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About this if if five business owner and I'm worried about demand and I -- consumers not spending money.
I may not want to expand right now and we're hearing that loans from banks are actually up they were up in the fourth quarter SNL financial actually put out some statistics were they talked about.
One point 45 trillion and business loans on the books in the third quarter.
And loans in the fourth quarter up four point 4%.
You think businesses might hold back are they having trouble getting loans are they going to be more discouraged by this lack of demand by consumers who have less money.
Yeah I'm -- flummoxed by the fact that banks are giving money right now it doesn't make any sense to me why they wouldn't.
So your small business is someone's offer you money right now at low rates I -- take it because you're not really get a much longer.
I I think this is gonna change very quickly and we're gonna start seeing rate skyrocket up.
Cut to Tom I want to ask about rates skyrocketing up because like general -- hearing over and over again from small business owners that they couldn't get loans.
Now they have been some articles side in different papers that -- getting so many offers for loans.
That people are worried that perhaps the qualifications.
For alone are being overlooked is this a danger that we -- Well I think yet to really segment what you're talking about when -- talk about a large profitable enterprises.
There's a lot more loan availability -- -- today in the markets becoming quite competitive.
For small business particularly those stolen customer profitability and you know we have some portfolio companies vitality consumer fund that -- that bill.
It still challenge -- loans it's a more accessible and it was a year or two ago but still much more challenging than has been over -- over long periods of time.
Would you agree with and that isn't -- problem bubble and ask you would you agree with Clinton now's the time to strike if you're small business get that loan while to get -- -- -- -- -- -- Me.
Written in general we tell our companies and what I learned this at Staples all the companies thousand -- was.
Raise money when you don't need it because you do need is when he can't get.
But what it cannot -- -- let me go back to -- Why would you raise money if you don't need it if demand right now and I realize your clients that that demand is good.
But look wal mart's demanded -- they're they're talking about.
Demand not destruction but people pulling back why would you want to risk having debt at a time when markets may not be growing.
Well the interest rate rights and the interest rates being offered now on -- are considerably low if you look at the historical perspective and I also think that in some weak economies are sometimes down economies.
That's the time to strike to advertise to build your brand and to get market share from your competitors.
So while I might be concerned about the macro economics I also think it might be a great opportunity for us to grow market share.
-- -- -- -- -- -- Is this an anomaly what we saw out of Wal-Mart or do you think we're going to see a pullback.
Across all kinds of retail outlets as well -- into the next quarter's people not spending money because of the tax -- I think it's highly likely that we're gonna see this continue to get worse before it gets better they as long as as his war on business a war on the taxpayer.
We're gonna have some serious troubles before finally gets fixed I wanna turn attention to something that's got a lot of headlines.
Regarding the US workers the most productive.
Worker throughout the world the -- labour the statistics bureau of labor bureau.
Bureau of Labor Statistics rather average American works roughly 34 point four hours a lot of us -- more than that.
There was a comment from CEO recently about doing business in France and he was very.
Well he pointed out that French unions make it very difficult but we actually asked a question and found out that in France the average employees working about 37 point five hours take it for what it's worth the the source of that was the labor force survey.
But at the end of the day the American worker is very efficient but is getting squeeze.
I mean to -- some.
What does the American worker do one more dollars a week for gas 2% off the paycheck and taxes -- -- cut because that's what's happening.
Well -- come back to something that you showed your screen which I know -- person a wrong.
In and friends as a matter of fact and law if your employee works more than 35 hours a week you go to jail.
So what are those people are working 37 and a half hours a week there on their way to the -- because he can't do them friends.
I'm glad you pointed it out because I got you know it's I do think the American -- that -- statistics are the American worker is the most efficient most productive worker.
Still on the planet but let the American workers get squeeze and as I wrap this up -- give each of view.
One last question let's start with bomb.
What happens in the future does the American worker make it through this because we have more tax hikes coming through obamacare.
Well you know I'm worried about taxes I'm also worried about regulation -- the job creators alliance.
We're looking at all aspects of how -- small emerging enterprises begin to great jobs.
And to do so.
We could talk about taxes we that would simplify taxes but we also the -- regulation army regulations of all kinds.
Sarbanes Oxley Dodd-Frank EPA.
Ocean we will have to talk about -- getting an environment that does not resemble friends in that aspect of business life.
-- what about you we think the American worker that we we need tax cut -- you think the American workers and for even worse go it.
I think France is reading the same book we're reading -- tempers behind them.
As long as you have this unholy marriage of government in unions together the workers isn't a tough spies on the book view the worker -- the workers the government unions vs government unions -- you get -- to wrap this saw a lot you see this getting any better for the American worker.
Well I am always gonna believe in America and the American worker and the American people and I'm gonna remain the optimist that we got election coming up and you know about two years -- that maybe we can have a -- -- -- change and get some better heads in Washington making some better pro business pro growth decisions 'cause it's all about growth.
It's not about -- about allowing businesses.
To unleash the -- Potential potential and high dazzling -- Thank you all for joining us here on money have a good afternoon good evening now call.