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Joining me now Wells Fargo chief economist John Silvia John good to have you here is an auspicious day yes that this selloff that -- that nasty nasty session was.
And I was intrigued by the list of companies as you -- throw.
Noting a number of manufacturing companies is when the economy looks like it's slowing down it's really manufacturing that's taking -- industrial production actually is down -- -- third quarter.
And what we'll see probably is set about a 2% welcome -- like we've seen the last two or three years actually more like 11 and a half -- And that will not -- anybody there.
Too excited now in the as we look at this market which we watched your -- I mean it started selling off strong this morning overnight Asian down but -- give him some mixed Asian performance.
Europe said the heck whether we're letting go just as it seem like we have an orderly process and weigh on the Euro zone what's going on over there.
Well I think phenomena and it's just a realization.
That number of countries can't pay their debts and is running out of -- they didn't get that -- get back in 2000 and they don't have the bailout what the Germans on this thing.
-- quality Austrians saying.
Hey we're gonna give you some extra money want to make this thing work I think there's a realization and it's not working.
And they don't have a plan as of yet after three or four years of bargaining on that there is a lot of viable -- You know as we say on this broadcast everyone's -- work where is Timothy Geithner.
What's he doing why is that there's some sort of com search and coordination among.
These powerful unions that have -- grown up formal and informal.
In fairly good shape and not so great shape why isn't he working visibly publicly.
And to lead -- Tristan and I gatherers and absence there -- -- yet again its leadership and you would think that the US would be.
A partner in the negotiations and Europe trying to I don't -- -- Just occurred to me -- courts.
Financially internationally we're doing the same thing that and the geopolitical side.
The geo economic -- we're leading from behind -- number we're all one of the themes that you sent over the last few weeks again is that the idea that.
To be a good leader on the diplomacy side you have to be a strong -- on the economic side.
And there's a link between the -- and some of the comments you've been in recently weeks suggest.
We don't have that link like we had in the past and so with son of falling back.
And not -- that economic leadership and therefore we on the diplomacy side -- weak as well.
And what about further further.
From the investor and equities.
-- bond market abuse or -- Give us some council here about what to do what we should be thinking about.
In the context of an economy that is you say is somewhere between one and a half percent in in GDP growth that I heard just a little optimism in that as you said it.
Well pot that growth that we're gonna see at the end of this week is is inventories right so there final sales -- pretty weak I think for an equity invest in the bottom line is you know weaker -- -- way you had expected.
You not so sure now about getting into the fiscal -- -- it's a difficult scenario in terms of the European situation cautions the work.
You've been part you know -- you can survive -- -- but Paul Krugman wrote a column.
And said the uncertainties overstated he even turned to Goldman fact.
Our lives in -- by the way wrote our great piece and you you've got to go to fox business dot com.
Because she takes -- awkward but apart.
Do you support her effort.
Yes because there has been actually some good academic -- -- suggests that economic uncertainty exactly very high today relative to even two or three years ago.
-- so it's always great to talk -- Angela.
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