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FBN's David Asman, Sandra Smith and Charles Payne discuss jobs and the shutdown of the White House jobs council.
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-- We'll jobless claims higher this morning but that isn't stopping the White House jobs council from.
Shutting down after meeting only four times and this comes as the Dow stalls out on -- push toward fourteen K an all time high.
We -- joined by our fox -- all stars.
We got sandy Smith at the CM.
David happen and Charles Payne in studio what -- Charles.
Do you think that this that unemployment could just kind of went up for weekly jobless claims overall its gonna stop us from getting to fourteen K.
-- the tomorrow's jobs numbers big the market needs a catalyst -- up on a lot of you know people sort of -- is.
We -- we had a couple of -- -- potential catalyst that didn't happen this week right.
Consumer confidence once GDP one so we get another -- -- tomorrow but this market to get to a new high.
In all the emotions that are tied to that -- that are tied -- that you need a true catalyst yeah.
About the jobs counselor for -- well.
Let me get this had a thorough but fair to say I'm statement.
-- -- -- -- -- But now I think idea -- an -- because look at night upbeat -- and biggest hit the thinking Sandra.
Eligibility estimates for tomorrow but -- that -- the traders talking about the estimates for the jobs report tomorrow.
There's still fairly low we were -- at what -- hunters is -- thousand the private sector these numbers just aren't great they can't be that excited about -- Right now unemployment rate -- expected to hold steady at seven point 8% but that doesn't seem to get in the way of the bullish sentiment that's down here for the stock market right now.
When you consider that historically low interest rate environment and the Fed just yesterday saying it's gonna continue to pump money into the economy to stimulate it you're.
See the stock market continue to rally despite any bad news this stock market know is that the government is gonna continue to try to prop things up and that's gonna continue to push -- stock prices higher but.
How much longer can continue to punish the private sector which is what this administration spent the first term doing and it looks like they're doing it once again I mean this this firing of the jobs council is very significant I think because -- is not so much.
For the act itself and how they explained that the fact that they're not continue -- jobs because this is the only.
Direct interchange that the administration had on a regular basis or -- regular basis I should say with the business community they say they don't needed -- -- because they wanna find new ways to engage with the business community like Expedia -- permits for instance infrastructure projects what does that mean.
That means that they want to go back to that government engineered industrial policy program that cuts the private sector out.
They really think they can guide this economy much better -- the private sector can and I think that's dangerous and eventually it's gonna show up.
In the stock market Charles you know in the first term President Obama cannot.
Got diverted away from the economy and jobs and onto onto Obama -- now at the inauguration.
He talked about global warming and and and green technology he talked about gun control.
I didn't hear him talk much about jobs while they hide the fact is he wasn't diverted it was never on his plate he -- listen this is not important to the president.
And I think this that I think the reason the jobs council's dissolved.
Is at this point it's a second term he doesn't have to have put up the facade any -- The fact and by the way money citizens' desire for a non partisan almost everybody on there was liberal anyway but the to your point.
The president now is going to work on his legacy his legacy had never had anything to do wood Johnson had to do with fairness rewriting the wrongs of yesteryear.
Redistribution of wealth.
-- that kind of stuff they had nothing to do the job -- -- has more on the question sandy because of folks -- in Chicago or so down to -- If we begin to hear the rhetoric again about the fat cat to have bankers and -- and really direct attacks against against private sector like we heard at some points in the first -- Aren't the folks they're gonna turn around and start thing -- she's made a private sector won't do so well under these conditions.
That -- be feds ignore what's going on in Washington right now they're looking at the basic fundamentals of this market when you look at the stock market how many of these stocks.
Despite the fact that we're sitting near all time highs are still very cheap when you look at the job count police got -- walking on the floor here this morning thing.
What they met four times over the past two years.
This not these are not regular meetings this is just an appearance.
That the White House created to make it look like they were out there on the job.
Sandy did give -- some things they came out what car I went through their report they had roadmap to renewal report but they had specific.
Suggestions all of which by the way just like Simpson Bowles -- -- commission the administration created that they didn't -- was -- so they create these commissions admissions do good reports I think Simpson Bowles was good.
I think the report of the jobs -- was good but then the administration ignores it.
It was -- a lot of -- thing.
Highlight -- -- we don't have much time they do wanna get Charles pay back in here before we before we go to break because Charles.
The one thing that we're gonna see tomorrow with this jobs report you've been watching these markets you are coming on talking about stocks how to make money on the right.
We cannot break through these technical level on the -- S&P there's a big piece -- resistance there do you think it's the economy do you think it's jobs.
I think is the economy is the jobs it's it's the unknown and it's a lack of a catalyst we've had a huge rally so far that's hard for a lot of people to justify the get to the next level.
You really do need some sort of really good -- not some news that we can pick and choose.
Like you know the GDP report being read that you cancer that was good and look at consumer confidence -- you can't say that was good government interfering yet again in yet another big take over -- -- -- Alameda naval.
Last month guys kids are you -- the numbers -- -- -- come.
Through the roof the highest since march of 2008 that could move the needle because people didn't spend that money.
Paying David Asman Sanders met I'm not gonna placing they have a promise -- mark I think these are lies my word that is that is -- heading home yeah all right guys thank you very much.
