Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Varney: QE Not Solution for Economic Woes

Details

  • Description

    FBN’s Stuart Varney breaks down the latest announcement by Fed Chairman Ben Bernanke.

  • Duration 7:42
  • Date

Clips

Also in this playlist...

Regulation

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The Ben Bernanke's those who solution -- -- print more money.

Solution for -- -- -- for the college note for America's middle class note if you own stock and yet what did news you just hit the bonanza.

Because -- prints about eighty billion dollars a months for a long long time to come.

A lot of that money finds its way on to Wall Street and that's what happened yesterday it's gonna happen again today.

-- stock whatever you do zero in stocks gonna go up today the problem is the price of oil also goes -- And the price of oil has reached a hundred dollars a barrel this morning.

That means gas is gonna go up some more probably to around four dollars a gallon.

That means that the average Joseph in the street is gonna be paying more.

And losing ground financial -- right now hundred dollars a barrel -- oil because primarily.

Ben is printing up a stool -- what's going on I don't understand.

-- and you know and not really don't number you you gotta keep it simple count -- -- just keep the relationship simple he -- -- -- money up goes oil.

Up goes gold.

-- -- stocks that's it -- want answered because you're flawed but look at the primary reason.

Is that when you print a lot of dollars the actual value of those dollars goes down parent and anything denominated in dollars is -- -- more expensive.

Oil the world oil market is demoralized and Dulles the value of the dollar goes down that for the price of oil -- to go up but that's exactly what happened.

By anybody's.

Of error analysis.

The economy is -- -- or abortion yes there's awful yes.

-- the president's handling.

All of -- This crisis has crises.

Middle Middle East -- it -- affect us market.

I'll YSE leading in the polls have very good question I don't have an exploration -- he is leading in the polls the only there's there's a partial explanation.

In the sense that most of the polls that we're looking apps are all registered to vote news.

You call him up -- -- registered -- who you gonna vote well that's the story.

A registered vote -- is very different from -- likely vote to.

A likely -- yet they're registered -- gonna vote they say I'm gonna vote therefore if you polled them.

You get a more accurate view of the actual result at the poll.

Now Rasmussen.

And I -- Rasmussen on Varney and company L Fox Business Network are use Ramsey.

And he uses.

They're going to you and I saw actually -- don't they don't do that they were asked him browser.

Mr.

Israel Asimov burning a crime in America -- rather was going nominally did you not allowed to -- you know that Scott Rasmussen.

Is -- regional founder of ESPN.

Did you know that under a lot of -- -- Yet he wants he sold -- Anyway he uses likely voters I think his polls a more accurate and -- Yesterday.

It depends on the nature of the pole and which poll you look at -- That is our rates in Paris this summer Jindal are doctor was Stuart Varney ventured out on my boss David -- us from -- -- loan.

Hello Charles and the Brit Hume and an industrial you know but my point was.

I had these I have these feuds with them.

But for these for the most of its -- -- reasons.

Having nothing to do.

Did you do it deliberately don't know about IQ cut I want at all this that's positive Imus -- -- sound -- Barbara's disparaging.

But our goal is -- believe -- I was out.

-- -- -- -- -- We're certainly not to Dell's friend who's a great reporter don't ever -- on chills and he's like part -- -- and company for what I did tonight it is a good man.

I'm Kevin -- regard -- out of an immediate newsletter don't check my emails while during national alliance.

I don't doubt and I don't -- Let me just say are received the message.

Back anyway.

I was speaking of that now I mentioned you know we're back and make -- And I don't -- -- -- little Erica thank -- I I I said though I came in a 5:30 is morning.

At our stop in -- lobby to try to get my breath.

And as the guys stand and then looked like a brutal.

Move -- -- -- little -- But you're saying -- I don't know.

And industrial loans from -- took.

-- -- -- Yeah are you truck trying to create about if senator everything.

So let me say very publicly.

Neil Cavuto is right to -- gone I now know is I mean as a person as a human and I was talks a good Mandela that -- federal ban on -- on our -- it comes -- Cavuto is a really good -- And I mean that as a man has imposed as a human being.

Is also.

Probably the most successful.

Business news Ankara of his generation.

And that's what he has great -- -- -- successful man professionally.

Don't say would against humans -- not you wanna pick coming.

No armed I was gonna report what I'm okay I'm job as a girl at the public's been doing what he's Abu journalists can just an automatic met him in the hallway I saw -- -- you do -- -- -- -- -- I said now said that he's one of the -- -- a lot of people but around Lana -- -- -- smartest people I've ever met.

You bristled -- that I didn't know I don't object out of my -- -- thank you very much bristled at what -- Grist for the Imus -- a meeting between you and I suggest that -- -- -- 55 in the make -- room some gossip -- -- until there are there on the Imus in the morning program what would -- made.

Bernanke.

A bike to emphasize that decide to bring more money if thought -- the -- not economy.

He is told that -- part of his mandate.

As being chairman of the Federal Reserve is to get unemployment down.

While unemployment is at eight point wamp a scientist in the FO 43 months of really unfortunate gap but the really yup you're quite obvious that the real rate is way above that but the official standard issue that is -- the Seneca.

His job is to get it down.

Well what's he gonna do.

I mean the politicians on helping -- -- policy in DC from the Obama administration or anybody else that's not helping him that's not helping the economy what's he gonna do all he's got left is.

Print some more money didn't look in the past but -- -- it'll work in the future.

So that's what he does it -- his -- -- disease mandates.

To get that unemployment rate down.

Does -- do that unencumbered by.

The Russian president.

He couldn't get advice from the president and the Fed is supposed to be independent the point days.

That his job depends upon the president will he'd be reappointed.

Mitt Romney says not.

I'm gonna get somebody else.

So along comes Ben Bernanke and may -- I mean this is what some people -- Maybe he's printing all -- money trying to get things going to help Barack Obama who would appoint him to a second to.

Now what is gonna pump comparable -- song.

We have Coolidge or one and don't give people -- to go by to ask you realize work yet the stock market is now within a few hundred points of its absolute all time high I did not know them yet -- that's what we all this morning about five year high for office -- prices but the other side of the -- -- -- right.

Oil goes straight -- hundred dollars a barrel this morning and gold.

Now that's about 1770.

-- --

Load More