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Nicole thank you so much for that let's just to recap those job numbers that we got this morning 80000 jobs were added in the month and -- That was short of the 9000 expected by economists unemployment rate did not budge it held at eight point 2%.
The -- sought a Raymond James points out to us that the unemployment rate has been over.
-- 8% since February of 2009.
The president's first full month in office.
And that is the longest stretch at that level since record keeping started back in 1948.
Not good news for the president Jeff what do you thing.
-- also not good news in recent history since late 1940s know what president has been reelected.
With the unemployment rate above seven point 3% so I think they're watching these figures fairly carefully.
What can that be because of James Carville is on -- in the morning this morning and he definitely seemed to suggest.
That if more had been done in terms of fiscal stimulus.
And eighty you know and the president -- start talking about that once again that the economy would not be in the shape that it's -- do you buy that do you think in more of that is necessary.
From the government -- an -- debt.
I think you need a plan and I think you need to lay out the plan.
The the word sound real nice but without a plan a specific ideas.
I mean -- small business owners I've talked to are scared to death about the cost escalation from Obama care.
They're worried about the regulations are worried about the regulators.
They're worried about the EPA and they're hesitant to hire people they.
-- additional won't let me back that out we're talking about stimulus let's talk about monetary stimulus from the Federer is our.
Do you think more is on the way given what we -- from.
-- Bank of England the ECB and the Jack Chinese Central Bank.
Wine and two would that make a difference at this point our economy and at.
-- -- It would certainly make a difference to risk assets and probably make the equity markets go up and I have every confidence.
That if you continue to get softening numbers.
That Ben Bernanke will indeed I don't know whether it's QE3 or whether it's gonna target GDP numbers are what other tricky might pull out of his hat.
However day and I think you -- in the same type of scare you seen the past two Summers.
People going in C a little softening statistics and they worry about the recession.
Stock market sells off between fifteen and 20% and then you going to the following when the recession doesn't show up the analysts have to raise -- earnings estimates again.
And the equity markets go up that's where I think we are in the cycle do you expect in the short -- a sell off.
I really don't I think that they selling is gonna be contained right here.
We got a little bit overbought the past few sessions you ran up into some resistance areas.
It was typical to -- the market pullback in here -- the employment numbers this morning where the cause approximate for that full whack.
I think you're gonna find support in the thirteen 35 to thirteen 45 level on the S&P.
Great Jeff thank you so much for being here -- -- with -- James my pleasure spot.