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Valliere: Fed Has to Stimulate Economy

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  • Description

    Greg Valliere of the Potomac Research Group on the drop in the labor participation rate.

  • Duration 4:19
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Back to the big story to headlines for you today -- the oldest jobs report.

368000.

People just gave up looking for a job last month.

Greg value -- from the Potomac research group is involved correct I'm picking on back number.

I'm not picking on the number of new jobs -- -- 6000 not looking at the right.

I'm looking at 368000.

-- I think that tells the story of an America that's given up hope you all point please.

Well you had the right word story you corrected yourself when you said lousy but you probably should just sort of stuck for that word it really was a very disappointing report.

Obviously too big big implications number one the Fed's got to do something next week.

I think they will have to stimulate further at number two that this is no great prize for the Obama campaign and I thought they came out.

Last night -- Charlotte with some momentum that momentum is taking a hit this morning.

Now the unemployment rate eight point 1% -- 43 months of 8% plots for this president yet.

I believe President -- was reelected with seven point 3% but the rate was going down sharply.

It is is that right 8% is that that kill off for this presidential reelection campaign.

I'm not sure it's a killer but it certainly has a bummer in the it doesn't help him at all.

And as you correctly point out.

The economy was improving dramatically.

In the followed.

1984 when Reagan won reelection it certainly isn't improving dramatically now the with the one glimmer of hope for Obama on the economy.

Is that still a plurality of Americans not quite a majority but a plurality still blame bush and that's something they're gonna hammer -- over the next few weeks.

By Gregg the preamble -- this I know that you would down the middle on politics he you don't you know right you -- -- you'll strictly down the middle you'll completely down the middle now.

President Obama's speech last night the Washington -- called it a -- agenda.

Politico I think them on the liberal side of the fence they say it was down -- the dream.

What's your response to the president's speech.

I give it an a for style and delivery in the he's great -- you expect that attendees a rock star -- plays out that.

Image but when you look at the substance who was curious story he.

He conceded past mistakes.

Sort of the new Obama it -- is filled with bravado as he was four years ago but.

The important thing to me is that he re energize the base.

And we've all talked for the last few months and -- you talked to Rasmussen and other poll takers we've all talked about the enthusiasm gap.

I thinking Arab that a lot I think the base is excited I don't think he -- a lot much more for swing voters.

But when -- -- that many of the goals which he laid out which he wants which even a second -- There absolutely no different from the promises to be night for years ago cut the deficit four trillion.

Double exports by 2014.

A million new manufacturing jobs by 2016.

Cut in half oil imports.

I hope that four years ago and it didn't happen now why should -- be infused by the reiteration of precisely the same thing.

Yeah I think you're absolutely right and I think that they're stronger line of attack.

Was voiced by Joseph Biden and that is do we want to accept the policies of the Romney -- campaign which many of which.

Help to get us in this problem in the first place I think going negative is his only hope.

Because message of all I've got all these programs -- they didn't work so I think they're gonna have to go really aggressively negative.

For the next eight weeks would it look -- seriously would at this stage in the game from a sitting president heavy on the negative you think that would look.

Well it's the oldest adage in politics Stuart if you raise the other guy or other gals negatives.

To a point higher than your negatives you almost always win so that's gonna be the objective to paint Romney as -- Gordon -- -- invader.

You know what policies that are risky that's his only hope mr.

-- Romney's negatives because I don't see a lot -- the Obama agenda that's going to resonate.

Great value death was a pleasure thanks for coming by tomorrow we'll see again soon across.

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