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All let's get back to Wal-Mart -- but -- -- right.
I'm taking Wal-Mart is an economic indicator yet and I'm saying it's not a good indicator for the economy and you say want what is no question about -- -- Wal-Mart Blaylock warmer sort of like the homeland for middle class America middle income America.
Mean I shop there as well as everybody else but that seems to be the indicated that we all use.
And the other CPI numbers out today and that you said a little while goes unchanged -- -- -- -- Flat out lie that's adjusted Stewart all the time vegetable prices are higher you we talk about gas prices every single thing we spend money on is going up and as a result of that there's less money people's pockets then you add -- that Q what started contribute to -- -- when people into the beginning of the year but you'll remember that through the end of September.
People's 401K contributions disappear so people -- less money in their pocket.
-- and that's why people are spending less and you know what we have higher taxes we have higher price for everything.
Less money in -- pocket people aren't getting raises people's lives are miserable right now people don't have money are we headed for recession.
There's absolutely no question everything a long time I told you -- almost six months ago this country.
Within stagflation and we are.
But you say recession and can let the technical for just for a sec -- a recession is back to back quarters that's my opinion -- what it really is back to back quarters with the economy shrinks.
Okay we hear first reading of the last part of last year that the economy shrank contracted.
You think that stretches over into this year and want to revised we will actually show we are in recession really what's changed.
-- has anything gotten better anywhere in this country.
Look I don't mean I we -- both the fourth quarter was a was contracting what does happen.
In the first quarter all right -- supposing we do go through would be spending cuts sequestration 25 billion dollars out of the economy and does that pushes into recession for sure.
Now I don't I don't -- sequestration.
Is obviously a big problem right but the same time to -- -- or -- -- relative to the size and economy it's my.
The biggest problem is this country is in stagflation -- word literally in rigor -- going absolutely nowhere but down okay our last question.
Cuts back on the printing a little bit yes it Wii console is spending in sequestration and if gas prices take this money out we got tax increase taking money out and you wouldn't invest in stocks in that environment would you well the funny thing is -- it affects stock prices.
You know then then obviously I wouldn't -- in terms of earnings but when you started seeing remember 44% of our earnings growth for major companies come from outside of our country.
-- got cigarettes so is that yes that is audience if you like multinationals let me -- a big corporation -- profits from overseas that is good -- details.
It's good for everybody time aren't we hey Ed thank you very much indeed a pleasure come -- back soon -- now.
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