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First Trust Advisors’ Brian Wesbury argues that the current economy isn’t great, but could be worse.
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Joining the company now from Chicago is Brian west break he's the chief economist with the first trust advisors hi Brian.
By say the current situation is bad and you -- and now what I'm talking about the current situation I'm talking about the economy.
I'm talking about the jobs picture I say bad you say.
I don't really know what bad -- -- I'm not trying to be argumentative but it's not.
Perfect and that's for sure I call this a plow horse economy and he ain't gonna win the Belmont.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- That's a trend how and that suggests weakening Ryan.
-- we've grown for eleven quarters in a row even though today's jobs number was weaker than most people expected.
Private payrolls are up 27.
Months in a row.
We've had a number of times in the last three years where that trend is started down but -- it kick back up again.
And so sure you you can you can take this trend and extrapolated just like you did last year.
When the economy slowed down you said we were gonna have a recession I said we work.
And it bounced back up and now it's slowing down again.
And we don't know the future yet but I believe it will not slide into recession alt and we will actually start heading back up always always -- in for a period of years.
Well we just bumping along a miserable bottom slight bit like Japan in the 1990s in the first decade of the century is that what we're in -- Yet you know Japan in the 1990s Stewart and it's a good analogy.
It was actually it in a depression it was a deeply -- Mary recession that lasted almost a decade.
GDP was falling living standards were going down.
We aren't at that spot yet if we don't cut government spending if we allow -- tax rates to go up.
We will be in a really bad shape but I believe this year and we have not the Scott Walker recall election next Tuesday the Supreme Court will rule at the end of June.
We have an election in November if those things go.
The the right way in other words towards smaller government and the and the less regulation.
We could actually have a boom on our hands -- I look at the stock market today.
Profits are up over a 100%.
Since the bottom in 09.
The stock market has not kept pace -- those profits the stock market is cheap today.
And so for investors what one.
That -- key -- Stewart is my constituency.
Is the investor.
It's not the Republican it's not gonna damage and -- -- -- -- the investor and the stock market is -- okay.
Brian west -- always a pleasure thanks for joining us -- we do appreciate it thanks.
