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Signs the economy might be starting to bounce back Dow is up nearly 6% this year housing numbers that are -- Because next year isn't looking too -- remember he predicted the financial crisis years before it happened so I would listen to a I was -- terrible thank you yes I -- -- back to the program by.
What what's your take on 2013.
Well we've made it through the Mayan calendar were going off the fiscal -- -- so much -- -- get a we look -- when he thirteen is more of the same but worse.
Well that's not good yeah -- what it is sending to look what's going on in Washington I mean the -- in the incompetence.
And they they're not doing anything to make things better you know.
You look at all the money that's being dumped into the system not only in the United States worldwide.
We just have a new prime minister of Japan day.
Who now has told the Bank of Japan print that money catch up to the United States catch up to Europe catch up to China.
So they just dumping this money into the system to keep it going as you mentioned.
-- housing sale of the housing starts to better.
But I want to put my genitalia I think when your camp may be on this from new -- may be more gloomier than -- on how the did I don't see the fundamentals.
Are still wrong the people that are buying homes are investors pain all cash.
Maybe some starter homes down there but the mortgages are still tough to get.
The there appraisers are still.
Tough appraisals to get.
And -- you've got one out of three people in this country that are underwater I still won't see the fundamentals.
Of the you'll buy and still transactions happening yeah.
Vote for they -- make things better you have to exact -- -- -- 100% right the only reason the housing markets is going up.
Is because interest rates are so low.
I'm up in upstate Kingston.
And -- -- the most historic corner in the United States the only place on each corner with is a stone building their pre -- the revolution.
And I just -- one.
The -- Rogen house is 1750s -- -- -- I just got the commercial loan.
At 3.2 5%.
They covered closing costs.
Ten years locked him.
That's what sparing the real estate -- if -- borrowing money for free.
And you're paying it back as I was talking about devaluing the currency that's -- they doing in Japan that's it be doing any US their -- which that you see in the market.
-- you you're kind of a macro guy you look at that the broad market place and I have to ask -- Is a market place bigger than Washington because even though they're.
The -- it -- debt -- under hedged their right on the place.
Ten and I know the make a lot of policy and we the media give a lot of attention but doesn't the market cycle.
Override what they can do.
This is a global collapse.
Pick up today's Wall Street Journal read what's going on an Amsterdam with prime property being vacant.
Look what's going on in Spain millions of people taking to the streets they still call -- a recession with 25%.
In Spain in Greece things are getting worse everywhere.
You austerity measures what -- or security measures I got one of and make up the story albeit bank I'll make a bid that.
I don't want to take my losses on the take the money from you missed a citizen.
And on the tax you more -- -- cut its services what you do get you gonna pay more for.
And on the cut you pensions and venerable house call health oldest gonna end are we gonna wind up with pitchforks what went with -- it's happening now.
You -- what -- -- they don't call it class warfare that's what's going on over there room -- look what's going.
There was no Arab Spring again we wrote about it before it happened.
There was nothing about a pro democracy movement it was fought too few had much too much away too many had much too little it's of people in the street they want to -- piece of the -- And it's going on around the world.
And for some reason people who oblivious to look in this country look at college grads there there income has decline -- eight to 10% up.
Since the recession -- can't get a job can't part of 50% of them have jobs and paying high school wages.
So no you're right it's not getting better and again we have the incompetence in the -- in Washington.
Making things worse.
You look at the numbers and you see the numbers there -- she's up a little bit we're getting a little bit of growth we got -- the little bit of inflation.
We've got a little bit of a decline in the unemployment -- to all these numbers accounted scratching in the right direction that why people and they're so anxious for it there's so hungry for that there that there there you.
Praising any little tiny movement why is it happen.
Because -- adopting the cheap money into the sister who would have believed we had interest rates at zero -- Who would I say so I can end end end Bernanke says it.
We're not looking at any change on that until May -- 2015.
Last year to 2014.
Year before it was and he is acting as bush and exactly who you can't make this stuff up you know.
We would've never believed.
For words killed America.
In my estimation.
That kill capitalism too big to fail.
That was the beginning yeah.
Moral -- gone it's gone and I don't know I'm worried about the fact that there's another generation that.
Will come along that won't know what moral hazard even is.
And why should they do not now be look what they look what's going on with the banks have you seen one head roll on Wall Street.
They pay these massive fines.
And hope I can give it reflects well on all of that packing my only he had had a note here -- always good to get to take -- -- -- had plenty thanks much for coming along.
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