Also in this playlist...
This transcript is automatically generated
The Dow Jones Industrial Average is up one point thirteen 100458.
The real movement in the markets today is oil.
0:1 point this morning we -- below ninety dollars would close about now 907.
Right now to be precise now wanna stay on the markets and bringing -- FitzGerald with the money map press he joins us from Oregon frequent guest program.
When you see violence.
And we saw that again overnight and a general striking Greece.
When you wake up in the morning you see that kind of thing does it make any difference to the way you invest -- -- did do you decide to buy one stock and sell another because of scenes like this.
-- -- -- it doesn't cause me to make instant adjustments it's more electric constant process and I watching the -- community go out.
There's three things to come to mind when I see violence on the streets of Spain.
I think K is it gonna spread to Italy for example is in next up in France.
Are we going to see further run in treasuries -- strength -- the dollar those kinds of things I think will happen as a result of this I think we haven't seen anything yet and expect to get worse there.
OK another question about the news of the day.
Today don't -- law.
Ahmadinejad president of Iran it will make a speech to the United Nations almost certainly condemning Israel may be calling for the elimination of Israel on this of -- -- young people.
Now when you get out of bed in the morning you see that kind of news development -- kind of thing.
Does it make you -- -- -- investing in oil all gold does -- make any difference Ahmadinejad.
To your investment day.
Ahmadinejad is a wild -- I think the guy is loose cannon in many ways I think that these psychological repercussions of anything that comes out of his mouth -- significant.
Yes it causes me to look at gold very hard yes -- caused me to look specifically at oil as a buying opportunity because if he does start shooting he whips out his terrorists.
Nuclear weapons come to the forefront.
Both of those things are gonna run high fast and hard.
A way to explain why the Dow Industrials were at thirteen 1400.
Less than a thousand points away from the all time record high.
And yet you've got events like this in Europe you've got Ahmadinejad -- the United Nations the Iran situation going up.
You've got a decline in Americans middle America's income very slow economy 8% unemployment.
Why is it that we've got the Dow thirteen 1450.
-- -- comes down Bernanke cheap money and I put it this way you give me a trillion dollars -- show you a good time to.
But you know missed applause saw one of the Fed governors he came out yesterday does -- this is split in the Fed that not real happy about printing up petroleum.
Does that factor it.
-- you about it does because the Fed has been lost for some time now they have no clue how real money actually works and their policies are basically threw everything but the kitchen sink into the mix and lately you're beginning to wonder the kitchen sinks actually gonna go in.
So I think that that is says something that we really need to be careful about above all else is that they.
Are for the first time beginning to come to the rationalizations that they haven't got a clue what to do.
All right here's another news event President Obama leads in the polls he may well win this election.
What does that does that make a difference to you.
You -- it does huge swaths of this of this country pay no taxes whatsoever I think that fundamentally changes psychology election.
Where that comes down is that it used to be you voted for the candidate that would do the best for you and for your country.
Now you vote for the -- potentially who's the least likely to take away your handouts very very big difference.
You sound very skeptical about further gains for stock prices -- -- Yes I am we are encouraging folks to gradually lighten up we're taking advantage of the rally to sell and bring some of the -- to the sidelines.
That said we are actively looking at opportunities in gold oil we're looking out for treasuries or continue their run just a little bit longer and then we're gonna are setting up for -- reversal.
Thanks very much -- this journal -- appreciate you.
Filter by section