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Would Reaching the Fiscal Cliff Lead to Recession?

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    Bedford Oak Advisors CEO Harvey Eisen on the outlook for the markets and economy.

  • Duration 4:51
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This transcript is automatically generated

Joining us now -- help us make sense of this market the economy.

-- chairman CEO Bedford -- advisors -- great to have you with us.

I was thinking about those crude numbers as a crude slips and more.

Up it's it's nice to see it's one of those who feel good stories.

And then we look at the market.

We look at their economy and -- from scratch our heads.

Give us a sense of what you think is going on first with the market it's -- Well we've talked about this remain number one of the third quarter numbers are coming in weak.

And the market it doesn't like that number to re election has -- he'd gotten tight now.

In the eyes of the average person and and certainty is something that terror.

And -- Paul Krugman Paul Krugman pick it does normally I would not think there -- offer you know every.

And finally Bernanke has said he's he's out of here and Romney wins he certainly here.

And that's a big deal because this thing has been running on fumes it's been running on monetary policy this -- control.

And if that word change that -- have a huge negative impact.

So are you saying that.

Romney should hang on we don't have to worry about this by the way postal 2014 about -- Bernanke goes at least that's when his term ends -- Or are you saying you want to keep -- You gotta be -- -- by all I heard you about now what -- What I said is that people are now -- -- that there is the possibility that they could -- this.

Alcohol away from the alcoholic right and that would be withdrawal syndrome so that could make a big negative impact mark.

It's official.

But looking at what we have and that is Q we Infiniti Q.

Right report describing that we have a market that someone is paying attention to.

Micro economics it if -- well.

And somebody earnings matter more than we thought because of but it was looking at a projection of a two and a half percent decline in profits no matter what it's right -- like its gonna -- -- pretty close about you know.

And some of the market wants to sell off -- -- Are we gonna see a shift in direction here or is this -- for long correction give us your your -- -- greatness forward.

I don't have to worry about it for thirteen it's our right urban it's gonna worry about who gets elected and the results so I can't imagine anything serious barring some cataclysmic event happening on the market after that we're gonna go right in the fiscal -- Right in -- that boy we're getting ready for that now.

And that fiscal cliff that people getting a little anxious about right from day to day people get a little anxious about Europe.

Is that anxiety going to be -- as they're going to be resolution.

Is there a happy ending to this story or these stories my best number one I don't know.

Number two my best -- -- they will bring it to the eleventh hour and fifty ninth minute and 592.

Before they tell you that they're pushing an awful little they can't.

Let it happen because that they do it's an automatic double dip recession -- right back into recession.

And even these -- -- that can't seem to get anything right don't want that.

That's a politician's -- the reports I understand.

I understand and a your generous.

A label and -- the that the fact is that this this economy is struggling of the markets struggle.

Give us your outlook if you will over the next six months and and and depending on which candidate you think will -- We want I've talked about this I mean for goodness -- you know we're gonna continue to talk about this to you get it right well this is madness I mean as as as my friend in Omaha says Warren Buffett.

If somebody would've told you four years ago what was gonna happen you wouldn't have predicted the stock market was -- doubtful that period of time.

So the bottom line is one of these two guys Cisco when.

I think that that is something that is greater important have it has been in a long time because there are tremendous differentiation.

Some approach.

But the bottom line is one guy has not been a good job.

For the economy to get the more you comment that you talked about it earlier this unemployment is unacceptable was rated.

Romney has a chance as a business guy come in and it's -- her -- thanks more instruction.

Thirteen days pertain to what we're what part report about your future we're getting it from forecasts are come we'll reveal little -- -- -- up to election.

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