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We get a triple digit loss on the data they couldn't miss that could get and of course it was the worst decline this year so far -- this year pretty young.
S stocks sank from their highs reached on Friday and the Dow now.
Well below the 141000 mark what caused that sell off and will it happen again joining me now -- -- the editor of money news ultimate wealth report RH -- what happened and why why did we blow what we were doing so well -- for -- Well you get people they get the jitters when you come back to old highs these were old -- since 2007.
Companies have a little more cash now they've earned some more money now there there their payrolls -- a little tighter.
So they can afford really to yet ticket to take the market higher side do you believe that ultimately the market -- higher.
The Dow could go to the -- 1510155.
Fairly easily but we're gonna.
Didn't act or not you can't say that although given that -- -- we gotta get back -- neighbors.
You know a lot of people say that that the Dow cancer set sustain this -- to -- more of it even more of a pullback and we saw the day is -- because of valuations what's going on.
It's well initially it's because of fierce -- -- will be because of valuations where we're starting to cross that threshold where we're not quite over valuation levels yet on stocks but we're we're closer to.
The top of valuation levels -- we are to the bottom until -- -- longtime -- You see inflation around the corner which I think is interesting and -- in gas prices head higher.
We've already seen gas prices -- on fire here.
How much how high and will it impact the economy.
It will eventually impact the economy I think oil's gonna get it and -- 10010 dollars a barrel I think you're gonna see gasoline.
Obviously make its way back up to the four dollar a gallon mark yes and and horse that's gonna -- people's pocketbooks.
Cut -- -- consumer spending scares businesses they get a little more cautious on.
Hiring well so -- don't.
-- -- a lot of people talking about a double dip recession here we got negative GDP growth in the fourth quarter could it happen again.
It could I think it's gonna happen a little farther out than people think those so we're -- little bit.
Well that that's not very reached I.
-- pretty even -- going to 151000.
-- and you think prices are heading higher what's gonna propel a big move I.
I think we're okay this year because the valuations still -- rich you know -- -- p.s that.
Fifteen to eighteen -- -- go up to 2224.
On the S&P 500 before you really get top B.
In your paying too much for the valuation of our earnings at that point so we haven't quite gotten to -- and what we're paying for stocks but we're getting closer every day.
You say the Fed spent on do looting the dollar.
How so and why do you think.
You know they may love -- the dollar they look printing money because it is is supposedly stimulate the economy and helps employment really Waterloo road but it does.
Is pushes up inflation it was as it pushes up the price of everything from food to gas.
and so that's the biggest thing that it ends up doing so they want to pay back future debt with cheaper dollars and that's the biggest reason -- they end -- doing -- but if inflation is.
-- make sure you know when you look at these inflation numbers you're really not seeing.
Widespread inflation yet the -- gas prices have gone up little little bit here and they are not every single category.
People laughing -- when you say see inflation coming I.
-- part of it's because the the reported numbers for CPI to squelch a lot of that and really come out and report you can get a shadows best dot com.
See some of that because what we are honestly paying -- diversity sort of the pump is higher than what they end up reporting we we we all know that -- federal government lies to -- -- -- thanks for coming on tonight thank you ceiling ahead.
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