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Up to big economic reports that forty come out first thing this morning Joseph mobile goods orders for June came in better than expected at one point 6% however.
You strip out the transportation sector -- especially the plane makers airplanes and those durable goods orders were actually down one point 1% dig deep and it's not such a rosy picture.
New claims for jobless benefits last week better than expected few or I should say.
Now what we all one day away from the latest read on the overall health of the economy.
Joining us is Michelle Girard senior -- colors with.
I went to us and you that we don't -- and a long long thought he'd been hiding from us so are we to aggressively.
To the economy is growing 3%.
-- -- Well you know be available on dot exact I have I've been saying and I -- I expect a pretty grim number tomorrow.
Growth of an annualized basis of one point 5% all less what you -- them.
Yeah out at one point force elaborate in this same.
Exactly in the same ballpark it's you know it's a disappointing results.
I think it you know our reflects the economy is really -- of it's all here at in the face of increased uncertainty.
Both consumers and businesses -- noted that -- I don't think it's gonna get much better either the third fourth -- and that's what I tried to be the most disappointing out.
As we head towards the election and beyond with still not exactly flatten out back but it's grim but I wanna ask -- -- the big argument on the set this morning about Ben Bernanke.
If -- pumps out some more money and he keeps interest rates at rock bottom levels.
Is that not gonna help the economy -- all Michelle.
Well I think it's gonna help the economy on the margin let's face it it's not as if interest rates -- already -- up but I.
I agree with what you're saying you know when you're talking earlier about housing it's funny and that they'll low interest rates in general that we're seeing I -- it -- housing.
And it in a different weight you know -- the big stories -- the investor demand and is very low rate environment.
People are looking for any ways to get return NME and what area that's become very popular.
It is a lot of -- in our people buying real estate -- a lot these distressed properties fixing them up but renting them back out and that's actually when we talk about that big gain in Phoenix that's being part of that story so.
In that way you know there is a case to be made at what some actions the Fed has taken -- helping to boost the economy perhaps and ways we had anticipated it would.
Give us your opinion please what would get -- back to 3% growth.
You couldn't get pretty easily if you could get uncertainty premier space -- it cut fundamentally.
Does Apollo -- Michelle -- what do what I think of uncertainty.
I don't just think of the tax cliff.
I think of financial regulation I think of Obama can I think of all kinds of EPA regulations I think of that back -- that's on the -- the private sector from regulation.
Not you not telling me.
I would gonna remove that uncertainty anytime soon -- now.
You're right but -- -- all of that was gone -- colony looking at growth in the five to 6% range.
Given the amount of juice that this economy is actually -- in terms of liquidity have a clue what you are reaganomics.
I never put you down as the Reagan -- -- -- yes yes I mean there's -- -- I think we've been living under.
Really I think we -- had -- handcuffs on his entire recovery.
Whether it's uncertainty over Europe -- -- about fiscal policy issues that the regulatory burden -- economy could get free from Matt.
Former -- at and an even if we still ahead is that regulation but.
The bottom line is that we had a sense of the country was moving back toward somebody who believe more free markets that the right within might -- and if we have the you know more certainty and clarity about the fiscal policy outlook here and -- your -- -- economy could go.
-- you -- with what -- important.
And -- all -- that she is no record fresher and full disclosure you and I work together for us in the Reagan years and you haven't changed a bit the come on back consistent OK good to save -- show -- -- Now.
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