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Keith Fitz-Gerald of Money Map Press on the economic impact of Apple’s latest phone and more quantitative easing from the Federal Reserve.
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Is the question -- Could won't follow and make that much of a difference.
JPMorgan -- the iPhone 5 could contribute.
As much as a half percentage point to our economy's growth in the fourth quarter of this year half -- -- -- that's -- enormous amount of money.
-- the company from Portland Oregon is Keith FitzGerald -- money map press.
What do you make it back up to a half percentage point to GDP from Wal-Mart photo.
Is that are getting a little carried away case.
Well you know its interest in Stewart that report caught my -- and not one eyebrow went up but both eyebrows went up -- the reason is.
I don't know whether the economy's so bad that we're something as innocuous is a cell phone is gonna make that big a pop.
Or we've become so dependent on technology that that much money is really gonna pour into it what happened airplanes and cars and houses all these other things we used to depend on because we -- -- to bond.
The very latest cool technology we -- the Stoltz we will host will scrape together every last dollar we've got to get that cool lifeboat.
A least that's the conventional view.
-- -- -- -- -- -- -- -- -- -- -- -- I mean I IC consumer is going after a while they -- high tech and they seem to want the iPhone 5.
Well I think the -- -- the question is how much value does that really create is it something that's being sold.
Or for example is it something that's being used the carriers don't make a lot of money on -- apple makes money on the sale.
But -- a very unusual company they continue to produce new products which we somehow continue to -- Now there's no competitor in the wings there's nobody can take that crown from the right now.
So I would argue that if the prices hold -- -- probably gonna contribute that more to the economy.
OK so that's the private side of the equation the private sector doing well with the iPhone 5 in stimulating the economy.
Look -- on the -- -- the public sector for the moment I'm gonna say that Ben Bernanke -- the public sector.
If you -- small money that's public sector stimulus -- that'll do as much good.
Frankly no I don't because I think it's actually more damaging to the economy over the long term that something like apple -- actually creating real products that people want they're willing to part with cash.
Bernanke is printing money to make up access losses that were incurred by our financial system our regulators are all all over that are they should be.
And I think that's actually damaging to print because -- risks inflationary risks all kinds of other variables that are being kicked down the down the road right now do you think he's going to anyway regardless of the effect but what we think is the effect you think he -- -- Thursday afternoon that's the announcement is coming.
Or some variation -- -- even if he doesn't call printing money I think that's what he's gonna do that's what he knows that's what these guys knowing the central banking community got the keys in the printing presses and as long as they've got those -- the party's gonna continue yeah I think that's why the Dow is thirteen 1300 this morning with a declining economy fairly weak corporate profits -- These guys friends and up -- stocks -- -- I got you okay with that.
Yeah I think that's very accurate Stewart's unfortunate but it's very accurate Exxon knew I was right I Keith FitzGerald always have always a pleasure with UK -- -- -- and he was the answer -- here it is all.
