Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Did Economy Grow in 1Q of 2012?

Details

  • Description

    Keith Fitz-Gerald of Money Map Press argues that the economy has slowed down to start 2012.

  • Duration 3:34
  • Date

Clips

Also in this playlist...

Latest News

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Big number coming this Friday when we get the first reading on the -- -- -- overall performance this year.

It will show if we are indeed slowing down and if so by how much.

Keith FitzGerald from money map press joins us now -- do you ship my opinion which is.

That we have now tonne to around for the third time in three years.

And hopes of a promising recovery have been dashed a -- looking to be weak job -- those -- enormous what do you site.

I'm with you Stuart I think they were gonna come in at about 2% now after having spent fourteen trillion dollars I got a problem with that's not very good it was 3% -- the end of last year.

Down to 2% now now it put that in the context of the -- -- News this morning that Europe is clearly in recession China slowing down.

Looks markets worldwide is that this is a global recession or not not recession global slowdown.

Well I would take a little bit of the issue with that because Germany and -- that despite the fact we've got data suggesting there's slowing down.

Both have very solid manufacturing basis.

And I would look to those two which are extraordinarily.

They they trade with each other quite -- -- I would look to those two to be the stronger player in the global set up right now.

-- that a strong apply as I -- I would agree with that Germany and China clearly the stronger applies in -- -- of of declines.

Is this a good time to be investing in stocks amid a lot of people right now looking at the 401K is that IRAs shifting the money around.

Should they really be shifting into stocks with the world economy looking like this.

Well I tell you what -- they may feel good to shift around but history suggests that's an extraordinarily bad idea.

Most investors shifted actually the worst possible moment if anything I would counsel investors to Begin looking at those sectors that you know we're gonna be needed and assembled by list right now because stuff is gonna get put on sale in the next few weeks.

That is going to be in your portfolio for years to come that's oil that's water that some of the resources they may feel bad now but it is time to hold your nose and in -- But would you avoid Europe altogether I mean -- -- at the end of the day when is this gonna look like for the next year.

Well I don't think that you need to need to portray it that way I think it's much bigger than Europe look at what's gonna happen to Africa look at what's gonna happen segments of the Middle East south America's got good growth in key industries.

And again China is part of I hate to use this phrase the new world order but it is leading the way.

May not look good now but it is leading the way.

You know case.

You know I'm -- for the first time in a long time -- not convincing me I'm telling you that you are not convincing me sorry.

Well I tell you what -- there is no easy answer here this stuff that we have had foisted upon us.

The recovery if you could call it that fourteen trillion dollars of debt that the American public did not sign up for.

Is going to be witness for years the question is how you -- -- navigated.

With maximum safety your portfolio it's not about returns now it's preserving the money you -- Microsoft is the only down -- which is up this morning and is yielding two and a half percent full disclosure I own some Microsoft why don't you.

Well truth be told I missed Microsoft on the IPO it's one of the greatest investing mistakes of my lifetime.

But I view Microsoft -- very much -- state performer and I would rather -- to energy and water because I think they're more stable than Microsoft I don't believe they have the upside.

You know -- -- do you.

I do not and there's no hope for you some.

-- -- the money -- -- -- there thank you very much -- sage advice that was good stuff we appreciate being with us as always thank you.

Load More