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Jay Pestrichelli of Zega Financial on the current market trend and whether the Obama Administration impacted the growth.
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Volatility at the top of the show that the Obama camp may start touting the market's rise since -- 2008 election so closer look at the chart here's the Dow up almost 9% this year alone.
But is that because of the White House joining the company now from Omaha state -- Shelley from -- zig financial.
JNL.
There's not a whole lot of good stuff out there with respect to the economy certainly this must look like.
Something really -- -- for the Obama administration say listen I held -- that.
Yeah hey good morning Charles you know.
The notion that Obama can take credit for -- for the rise in the stock market is is ridiculous to me if there's any government agency that that should take any credit forwarded me the Fed -- and not the White House I mean.
So let let's think about what what the president has done he's tried to take.
Some efforts in shovel ready projects -- that didn't work out so well he tried to take efforts into.
Green energy that didn't work consulate in it almost feels a little bit like.
He's learning on the job.
On what he needs to do to stimulate the economy quite frankly I don't think any of us want a president that's learning on the job -- with the state of the the the job situation we have and and yet.
You know might make sense for the president to say does and I've been an office I've created a backdrop for you've got to make a whole lot of money.
And now I like the start this year some of that money.
I mean that this I -- wanna talk about that Charles and it's it's frustrating to hear that what it what.
It's it's it's insane to think that he -- created wealth in the stock market that -- think about the stock market for -- it is a reflection of growth in earnings of companies right this is that's -- anything revolutionary it's a reflection of earnings.
And right now when you look at companies they are unwilling to invest -- CEOs.
If you were to -- them -- tell you that the reason why they have cash balances.
-- -- All time high on their books is because there are uncertain about investing because of the fiscal policies that the government is created.
Because of the unknown.
Tax implications of what is coming down from from from the government and I think that I hear about it to try to take another to take more of a share away from you know from from from capitalism and take -- -- -- share.
Away from the economy or at least from from those that are creating growth is is ridiculous to -- -- got to tell you today I'm I'd I would be surprised of this actually happens and I think more from our perspective.
Share the wealth you know you guys sitting on a whole bunch of money it's about time you start to hire people about time -- more willing to pay higher taxes day.
I understand where -- -- from -- understand your frustration because believe me -- -- in the trenches don't -- that way but it's a question of whether or not.
The masses will -- -- -- for your time this morning as usual but it.
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