You're watching...
Economaney.com founder Dave Maney and Republican National fundraiser Noelle Nikpour on the economic impact of White House policies.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- No idea why I think that the warning interfere and I think that -- -- Obama administration's ignoring warnings at some.
I think I mean fuel looked at Wal-Mart it's a perfect -- I'm I'm from Arkansas and and that's -- Wal-Mart was founded.
And northwest Arkansas and if you can look at the spending -- they have -- -- we should you said it's kind of that have that they get a huge.
Because if somebody if not spending that's middle America and they should tell you that a lot of people are very worried about that.
And you know what the problem evidence we have a community organizer.
Running the country.
And I'd like to say if he was you know running the center for the community thinner and he would pay the -- -- for the community center then maybe he would understand how business goes.
And he would.
Releasing his -- has more spending.
Because obviously that's -- what's given -- economy to win them.
You cannot injure Y eight out of a recession I'm not in the continent's cut your way you can your weight -- to at least make up for the difference but there is no -- and only fact.
That you can raise enough taxes -- -- look it's even more even announced that you can't tax the rich and not.
Two to make up for the deficit and to pick -- crying and -- you know.
Take the fall for everything.
Yeah you know -- you have to look at the markets later today to -- -- -- -- concerns about Italy and whether the center left government that will be formed.
Where -- without Berlusconi.
Is going to be less inclined to like austerity and that rattled markets here.
What's what is gonna drive our markets are they seeing this as well or they -- impasse here on collective global -- here what.
Well I think there's a little bit of -- direction it goes on I think our economy's changing all locked I think that it is being driven heavily by the Internet and information technologies and -- restructuring the economy and all sorts of ways.
They're very tough for traditional measures to gate.
One of the things that's happening.
Is that the -- returns to that information that technology are flowing to really Smart people at the high end of the market so in effect.
In some ways the rich are getting richer because they know a lot exploit that technology.
But that technology.
Is kind of taking getting that those middle class and lower middle class people you're talking about.
So what you get is this phenomenon where things at the top -- look great -- you -- housing markets in New York to California showing some life but then you go to the heart of the country.
And they're taking it right in the -- Right -- busy -- pick up now all of sudden you know Lou good housing completions starts and all are added a little bit do that because of that list but if they bite.
Republicans have been saying for a long long time that this.
Recovery whatever the presence going at it -- his -- on -- hello Sam.
Now what happens what do you see happening now on whether they see happening.
It is built on -- Palestinian and the reason being it's Wallach and -- the jobless rate that that's a bunch of junk and I'll tell you lines because the numbers for that you can't really trust.
A lot of people quit looking for a job a lot of people -- -- taken a job part time in accounting that and you know as part of the makeup of the job numbers.
-- I don't today the markets have been merrily dancing along on.
Do you think to their detriment -- tested did not think it's gonna end I think its home market -- it is is gonna -- did you believe that -- that this is -- lending now and today it was a preview coming attractions you know -- I would say that my job is looking at the economy and the economic future more than the market -- tougher media.
-- this directly on the markets what I would tell you.
Is that.
What's going on in washing team is not helping the people that the president says he wants to help.
So when you when you look at you -- the number employers that say hey.
I can't deal with and I cannot afford this Obama care system -- I'm gonna keep all of these people under thirty hours -- week.
What you think that's crushing the CEO.
-- or the folks working in the wal -- more or working at the Applebee's.
That's where they -- -- so is that affecting corporate profits and therefore how the markets valuing them I'm not sure.
Is it punching that middle class and working class American right in the gut.
You bet it is and the problem and I have much like what -- is saying is.
You have -- you have an administration.
That is.
Wildly.
Economically.
Illiterate.
And so has no kind of sense other than -- very academic about what might be happening.
And the law of unintended consequence -- -- fed up with good intentions to say I want to help make sure coverages there I want people to do well I wanna fix these income inequality.
And because they can't speak through the reality of the chain of events what ends up happening is exactly the opposite of what they set out to do and -- you may constrain -- addresses.
Why it's also a trickle down effect -- -- it's not just Wal-Mart knew what it goes further than that both should not shopping at Wal-Mart they're not spending money on Kraft.
Tyson Foods all the other products which affects that made it if I'm right and out warnings to that effect well I mean -- it's a trickle down effect when.
Guys thank you very much in the meantime if it's.
