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Centurion Holdings CEO Joe Grano on the outlook for the economy and the Presidential race’s impact on consumer confidence.
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So what is going on in this economy in these markets and here to help us make sense of -- all as one of my favorite thinkers in part because he's also a very successful -- work.
The chairman CEO of century holdings stroke -- also the former chairman and CEO.
-- -- -- -- -- -- -- Well let's start with.
This this economy today I looked at these numbers and but maybe a narrow trading range rose -- a bad result what do you make up.
Well first -- -- markets have been surprisingly resilient.
Even on very cautious not optimistic.
The economy itself it's somewhat stagnant if not anemic one and a half percent GDP growth.
I don't see that improving this year and certainly perhaps -- -- next year right so I think we've got to irrespective -- elected president.
Irrespective of who's looked for the markets may react favorably but -- -- I could turn around quickly.
We've got embedded problems that haven't been focused upon by our government either side of -- -- he decided yeah.
That's a concern that some of those problems certainly in -- it its interest in the way we played long term and short term now.
We've got to the so called fiscal cliff coming -- us that it's related obviously to tax policy.
It's related to the federal budget deficits and and the national debt.
Which are typically long term issues when it comes to fiscal policy.
In the public policy choices this government makes.
They problem altogether brushed at the -- was brilliant but who else.
I don't even see them making choices -- -- seems like there's only two agenda items getting elected and get reelected.
They're not focused on the problems were not coming -- solutions I read somewhere have validated this obviously but the 43 previous.
Presidents combined.
Increased national debt -- six point three trillion dollars.
Our president -- its author about sixty half -- three and a half years.
This run rate if it continues within seven years -- Greece.
And and and if we take away even the first year because that's -- that's baked in by the previous administration.
It's still five trillion dollars -- it's astounding.
It.
Or are you happy about Romney and Ryan and their discussions about entitlements on the budget and the direction of their -- Well I think part of the problem is no one is telling the American public the truth facts Americans will always react properly once they have facts.
All of this negative advertising which pretty much is being driven by the democratic side so far.
Is fraught with lies is not mr.
representations you know for instance -- Ryan plan.
Doesn't impact of these senior 55 years -- over you don't see that and and these that.
And what's happening here is they are exacerbating the problem.
By -- you don't say that -- -- of the Obama not not knowing you do not but my point is.
They're diluting the confidence.
That is required for rushed to solve our problems you can't split this country between rich and -- -- titled -- not entitled.
And that's where do we ever present that you stand up and say I came from me your background look at me -- impression that states it's -- -- -- -- We need confidence we need to coalesce the country.
Not provide this is very discouraging.
-- Andrea -- I Lafferty event that is solely speech -- Friday the thirteenth.
Last month well I wanted to try nuclear -- -- aren't required I have a lot because here's a man who's a beneficiary in every way of the society and this great nation and he is.
-- telling people they didn't do that.
-- Randall who does do that all the time thanks for being your concern.
