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Empyrion Wealth Management President Kimberly Foss, United Advisors Chief Market Strategist Scott Martin and The Weekly Standard’s Steve Hayes on th...
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The prepared.
Yes got I mean I like these guys are disappointed.
That the Mayan apocalypse didn't happen that they were hoping that was gonna come in it's like the dog ate your -- -- only in the world had ended no one would notice that they didn't do any of their work.
Mean what would you deal and -- can't count on these guys what would you do to protect yourself right now to meet it seems like you've got to get -- hard assets gold.
Real estate I don't think stocks look attractive at this point.
No I don't think they're attractive but I will tell you that over the last couple days was I think people are kind of getting ahead of that trade so.
I'd be wary of say getting out after January because I think by then you know that the selling my damning look what -- -- the election and the market fell.
A quick seven -- 10% bounced right back I think the economy here is just a tad stronger than say people give it credit -- so I would stay in stocks if you're still and then at this point.
Gold I like Melissa but if you look at gold vs stocks -- last couple months hasn't been that great side and off that's a great place to chase say positive return.
Hasn't been that great because people were thinking that these guys -- -- rating get their act together get something done and obviously they're not gonna do that.
I don't know Steve it in my being too harsh too pessimistic is -- -- chance of they're gonna get together and come buy -- come up with a solution.
Don't -- my view from the very beginning of all this is that they would come due they would sort of slapped together some last minute solution that.
Basically nobody likes and certainly people who are in favor of smaller government lower taxes are not gonna like because the president and senate Democrats I think are are running the show now so.
They're gonna put together a smaller fiscal cliff package hope that they can win you know that that the couple dozen Republican House votes that they need.
And get this through there's a bright side for politically -- of bright side for Republicans if that happens because.
-- further drive the contrast from the president but it's typical of the way that -- seen them do business here in Washington you know for the past.
Couple years in the past couple -- See what that mean -- what -- -- cobbled together solution look like that they raise taxes on everybody who makes more than 250000 dollars they put off everything else indefinitely into the future.
Yes and I.
-- they pause the they probably pause the sequester.
May extend unemployment and I think there are things that the president has -- are important to him that he wants to get done.
That will allow him to say if he chooses to if he wants to.
To say look I drove the bus that that helped avert this fiscal cliff on this is this is something that I where I took leadership.
I don't know if they'll keep it at 250 might go a little bit above to look like he's had some give and maybe.
To attract some of those house upon everybody would need to get this through but it looks like it will be a slap -- product if there is in fact the product and it won't be pretty.
-- -- I -- so hung up on the fact that we are spending ourselves into oblivion.
And it seems immoral to meet that -- just passing this debt onto our children it's like racking up crazy credit card bills.
And just saying don't worry my two year old one day we'll be old enough to pay -- this for me.
And we have -- this.
-- I think you're absolutely right I mean we've -- had kids very young kids in.
And an an -- cards have kids an end and grandkids they Iraq is debt on -- there on sit there debt of their generation.
And in the reality is look at they're not playing fair and that -- and that in -- sandbox.
They really haven't done their homework before they -- have to play -- should say handbag example I think for the whole country -- -- -- On the floor for -- future generations.
Let's just stop but just rip the band dot let the wind -- heal I know what's -- hurt.
But gosh you know what -- we -- we grow small businesses will grow and -- -- opportunities for our kids again.
Scott what -- -- really mean we don't reforms spending going forward if we don't get a hold of entitlement spending and -- crazy growth of government what what do you think is the real implication of that down the road.
Has made -- -- and I shouldn't be that worried about it.
That blood loved the calm me down I mean listen let's say here's -- thing.
That's not a bad word I mean there's a lot worse for that -- the debt if you grow I mean I think the real key here is growth.
I don't -- Mattingly got here if we get GDP growing the problem isn't was I think businesses are so scared this this administration of the institution that is Washington.
They don't want -- grow anymore businesses don't wanna spend so to your question I think -- it -- debt does grow bigger and businesses don't grow and don't spend.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Come on yeah I don't I I don't know I'm meeting you can you can look to that today -- gas revolution I think you have.
You look to other things that where where you can see some some potential for broader economic growth but I think there's a lot.
That's happening based here in Washington that -- did that that gives people perverse incentives and we have not the kinds of of policies one would pursue.
If you want to encourage them to not -- broader economic growth but encouraged businesses to reinvest.
To invest in their workforce to reinvest in are indeed those kinds of things as well.
To my fabulous power panel thank you so much stick around we're gonna come.
