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My next guest says there's no surprise with a Fed's trial balloon today.
But the slowing of asset purchases won't end as soon as he would like -- like joining us now with its outlook Harvey Eisen chairman CEO.
Of Bedford oak advisors today -- here.
Well -- yours for quiet and it's this -- reaction to a market that unexpectedly sold -- and I have been.
Talking about this I mean but the -- the oldest thing in the book is the Fed has the punch poll and they've got to take it away and the only question is wanna.
But just remember one thing.
Nine team 37.
1930s because that was the year.
When most of the damage of the depression have been recovered and the Fed to move the wrong way right they tighten.
And thing went over the and it sounds.
A little like you're suggesting this may be 1937.
All over again.
If the Fed does that the slowdown those those asset purchase well quite the opposite -- Bernanke.
-- -- like Cameron -- one trick pony that is a student.
Of proof of the depression and what he knows is going to be over is dead body that they type.
What -- what.
Hi I'm trying to understand is that the conflicted Harvey -- here because you're you're reminding us of history assuring us that history won't be repeated but also at the same time bemoaning the fact.
That we're going to see continued liberal I think that may be a very.
-- word for it.
Liberal monetary policy.
Where are you.
In my world I have to -- unfortunately.
Because it involves my money and I'm -- he hoped that all I'm concerned about is not what these baboons say it's what they do.
And right now they will not tighten.
And is that helpful to the accumulation of more of that stuff -- so concerned about.
Well let me make -- -- the good news is in the short term always ago I -- for -- nonsense continues in the longer term.
Be an inevitable outcome of this is going to be.
But nobody worries about the longer term anymore in the stock market since this Bozo -- gotten off to a 130.
Even -- Well I think that he would be worthy of something besides Bozo if you're making more than double your money they get insult -- -- I'll put you down as they know about what but that the truth is.
Gold today selling off I mean we're watching quite a run back and that.
We've got people saying -- gosh this thing breaks through various levels are putting some and it's our -- -- You know it's character -- an auto workers poorly for the market what are you back.
I think the gold has been up.
The last time goals for that period of time.
It went down.
The goal that's correct that I mean these things don't go straight lines if PO like goal.
Which by bill.
You get a chance to buy some cheaper let me ask you dispute do you perceive the greatest threat right now the macro -- it to be deflationary -- always if they're -- The biggest risk is always -- -- Always bullish but the problem is they mask it by talking about the inflation which then perhaps it's so what you have now.
Is because of this miniscule growth in the -- And no inflation.
The Fed has complete there -- to continue this back its.
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