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United Advisors Chief Market Strategist Scott Martin on the factors leading to America’s declining competitiveness and what FedEx’s earnings decli...
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Well the United States dropped two notches to seventh place in this year's global competitiveness survey.
It's an annual report released by the World Economic Forum and the reason for the dropped quote the report quote -- public trust in US politicians.
And a perceived lack of government efficiency.
-- -- away and Scott Martin chief market strategist at united advisors.
Com line you mean Nancy Pelosi and Harry Reid -- are making its uncompetitive.
This it's ridiculous.
Yeah oh it's funny Jerry exits like tell us something we don't know already about Washington admitted -- -- -- that.
-- it you know I think a funny thing about this report is let's look back in history.
When -- the United States last number one.
2008.
And what are we did after that it absolutely does maddening financial crisis and -- total business slowdown so look I'm not sure being number one is the best thing out there.
Being where US is now certainly not good either though.
OK so here countries that are ahead of us I what you weigh in on -- Switzerland.
Singapore.
Finland Sweden the Netherlands and Germany I mean come on we got to do better than that don't you think Scott.
-- better than a few of them -- I mean they're they're very interesting it's quite a cornucopia -- actually break it down right because you've got Switzerland on one hand that's a very big tax haven.
That companies like to be -- because of some of the benefits that they have -- but then on the other hand.
Finland and Sweden are very non tax friendly and so you have to countries kind of up there in the in the rankings that are not very good with regards to business -- accidents so.
They even get ahead -- US and yes that's a little bit insulting.
That's depressing and we've got lots of problems in this country we need to solve competitiveness is certainly one of them.
But we get a report today wanna ask you about from FedEx -- -- their first earnings decline since 2009.
You call in the canary in the coal mine.
This is a little worrying.
Are very much so in fact that the FedEx news I think would I'd put.
Next there's much disappointing is what happened Andy -- today about a half -- US open and losing its final match -- more important here come on yeah.
-- there what -- I like an erotic but here's the the only -- uses FedEx I mean.
Fedex's 30% now international jury that's an all time high for the -- does note is big part of international market there Europe hello slowdown.
In China already in a slowdown so you've got a big problem internationally for FedEx -- certainly the US being weak on growth you know 11 half percent GDP is not good either.
Quickly Friday's unemployment report what are you expecting can we get a surprise on the downside -- the upside.
I think there's potential for a surprise on the upside actually think -- we've seen the worst of the employment numbers not to say they're gonna get -- here but I'm guessing plus one point five.
And OK that's about consensus all right -- Scott thanks for coming on tonight appreciate your time.
