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-- today's market -- comes 24 hours before the Federal Reserve's policy meeting with investors waiting on the sidelines how we expect to hear what can we expect to hear from -- Bernanke and company tomorrow Lou Dobbs.
Is here with his -- -- what you think the soft that I.
Well I think -- -- it's just on natural or reflects and in this environment.
It annoying is that Dickens out of me as you know due to see the market start playing these games about looking toward Europe for direction.
Which is about as my analyst says it can be.
I got a kick out of the fact senator did mention the financial sector which is not doing so bought -- -- -- In large measure because what we're seeing in Europe and in anticipation of what may or may not going to be forthcoming from the Fed.
You know the conventional -- is the Fed can do nothing here it's not time to -- to extend the balance sheet.
It's not time to touch interest rates in the in the judgment of most.
What's your take though ion -- stock markets and -- would you use that word to describe how.
Stock investors view the -- in this easy money that we've enjoyed for several years now is that partially to blame for the sell off.
Addiction are persistent chronic dependency anyway you -- violent.
It is it is that and is as a matter regularly everyone down on the street are you.
Everyone's looking for QE3 RA on let's get pass this meeting let's -- to Joan let's talk.
Analysts are a little new refreshment.
But I don't think it's going to happen I really don't because I think we're seeing a lot of it.
Today's sell off and notwithstanding we're seeing a lot of helping things develop we're seeing strong overall strong earnings.
We're going to see what a third of the S&P report this week we'll have a better instinct and understanding.
What's happening at least with corporate America and earnings as a result of what we see this week.
-- -- -- if you look at you know one of the biggest indicators GDP this recovery has been slower and you know any we have seen in you know as far back as you wanna go right such a slow recovery so I don't I don't know that we're seeing things necessarily get a lot better and -- you said that that you know there's nothing effect can do but a lot of people are calling for QE3 more and.
And citizenry can do I said that it didn't think they would.
And obviously all they can do here.
They can't lower rates how low can you go because -- analysts think wanna look at it to new moves in the past they have been -- a twist which shall conclude in June and another 600 billion has been real -- alligator across the spectrum.
Talk of assets but the fact of the matter is they are out of bullets here -- -- -- -- and understand that they can extend the balance sheet but after that they're done.
And for what it's -- rates are staying -- on their -- be run as a geopolitics of everything going up when you -- there's -- -- with the market looks like if you just X out the Fed if you could.
Access amenities and there.
In the well and what do we think I -- -- to the market.
I think intellectually and abstract way that's a fascinating exercise -- I guess is they would I think yesterday Dickens out of most local to think of the pulling the Fed back here.
The Fed -- the end perhaps it shouldn't be in it shouldn't in.
Point of fact to be news you know taken out of the equation as you suggest -- and that would satisfy and and please many people.
But right now without the Fed I think we would have been in significant trouble I -- and I think Bernanke gets our real short shrift and unfair.
Criticism on the policies that he's put in place over the course last three years.
I just think they've become so used to it so accustomed to it simply don't think somehow maybe just -- lingle wage a little more hawkish with the language alone instead of the actual policy.
I take your point and I and I agree with you I -- I think I would like to see certainly a strong leadership.
On fiscal policy as well as monetary policy and what I have now passing for leadership in fiscal policy.
Whether it be from congress to whether it be from this president for that -- from Republicans and Democrats.
Is pitiful and -- Yeah well that we all agree on so that doesn't we'll see you hear everything what is the time I wanna -- when we finish on agree yeah there you get out and you can catch up representative Ted broad tonight finally got a show at 7 PM eastern -- look forward to that thank -- thank you live.
It is a quarter --
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