Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Fed Propping up the Markets?

Details

  • Description

    Bedford Oak Advisors CEO Harvey Eisen on the factors driving the markets higher despite negative news.

  • Duration 4:42
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Harvey -- he's the chairman the CEO of Bedford oak advisors one of the smartest folks in the country on this market and much more are -- to have you here.

13% plunge a durable goods orders one point three per -- GDP growth.

-- percent slack and well two point 6% -- In existing home sales and the market is in law.

What's going well number one you predicted it last night I was sitting there watching the show and you said market's been down five days and grow I will tell you.

That the market rarely.

Rarely goes down or opt for that matter success.

Of this is the balance that you could -- Irrespective.

Of the news on the account.

Total it.

And the fact of the matter is that this this market.

He's now being judged by many.

To be on -- trajectory through another leg of a massive bull run.

Thank you.

Fed chair Ben Bernanke I think is the way that includes well that's right I mean basically what you have today is this incredible Tug of war you've got the economy where people will agree that the recovery has been very slow.

And it's gonna now slowdown even more because we're gonna get it down third quarter which is the first down quarter earnings and night court -- number two.

News this -- -- and that's I mean it's just awful and the market goes up so people in your business have to find reasons as to why the market went up.

Market goes up because two thirds of the trading -- nothing to do with anything that correction of the market.

The shorts get said that I would now of those credits -- part of the daily stuff -- know.

Difference high frequency.

Trading.

Is this as well.

It's a substantial amount when you -- you are at a period now of pretty much balance.

And the Tug of war it's on the other side you've got Ben Bernanke.

Who's a one trick pony who says the way to deal with this problem.

Is to continue to stimulate so he has now put the pedal of -- floor.

Because it hasn't worked -- he's gonna continue to do the same thing you know.

Amongst the many reasons that that the -- watch this broadcast is trying to discern.

What is happening with our political economy is best.

It's best we can gather.

From a factual evidence and in some serious punches from time to time.

What is your best estimate as to -- is going to happen -- this -- and and what lies ahead because this.

That tension is rising between the real economy the financial economy and specifically the equities market seems to me to be moving toward area.

Well.

Well look my job is not predict the future because as Mark Twain once famously said -- that.

What my job is to recognize what's going -- And what's going on is you have this incredible.

Amount of negative news that doesn't it the mark -- why is that.

Because the system is a wash panel acquitted.

Individuals.

Want yield they can't get corporations.

Want returns -- can't give the they had.

You can mathematically.

Show why stocks will go up based on what the -- that get all the moves.

And this -- Obama.

Who's done a horrible job.

Terrible job on the economy forget everything else you got all those that are on the economy he's been off.

But his friend Ben Bernanke has been terrific.

Bernanke has done what he has been training to though it says on page 43 of the book this is what you -- he doesn't know what else to do.

And I haven't heard a very good prescription from anyone else to be honest well the problem is this political them because you have got the other side that's totally -- Function -- the but the bottom line is shipped cut.

The bottom line is that you -- in -- very very rare her.

And I can tell you what's gonna happen I just can't.

-- -- and are they tell us what's -- what's gonna happen is you and I've talked and the bond.

Market.

Has got to stop going up yields are going to rise because if Bernanke's right.

And it works the economy gets better -- yields rise there's going to be so much money lost in the -- The people are not gonna believe -- And that's the worst.

Force them to go on -- Are realizing the source thanks for being here chart went.

Up -- -- --

Load More