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All right now this -- doubt alerted the markets are shaking in their boots and -- and these guys are blithely buying into an abyss then.
The Dow was it's a closer to an all time high within ninety points -- one.
David Webb Sanderson at the so solicited.
On whether the markets see this silliness for what it is pointless brinkmanship.
Not -- -- Johnson and again.
Better than no cuts at all it's generally it is really going on him.
These markets have had enough in fact there -- -- in the market because they see the fact that the Fed Chairman Ben Bernanke this week -- Basically saying he's gonna continue to be a backstop for a weak economy and as long as he is the stock market's gonna go -- so it's almost comical.
The fact that we've gone up triple digits two straight days for the Dow we are mere points away from all time highs that so called fear gauge in the market -- Down 13%.
Today the -- There's fear out there the markets are telling us that a deal will get done.
-- you say a deal will get done his wanna be clear here.
Did steal the sequestration automatic deal and they can live with that or they take.
They'll be a midnight kind of a way to avoid missiles.
There's going to be a midnight way to avoid this whole thing as you just pointed out the Republicans have put it an option on the table that the president almost shouldn't or couldn't.
Review is -- at this point the president he look like us superstar if you wanted to leave the historical legacy.
Of making an eleventh hour deal here in yell and looking like he was being fair to both sides of the out of the -- He could walk away and have the stock market -- all time highs he look like -- hear how if you he comes up.
-- the DL here well you know -- videos and I don't see that -- I see the market jumping even in the face of these automatic cuts on Friday.
And Michelle what makes me think that is that the president's planning -- meeting.
With Democrat and Republican leaders at the white house on Friday.
Littlest accent so if you're trying to avoid something from ticking and -- -- -- that on the day it's kicking and it becomes a moot point which.
It's a factor gets -- back to what satirist on about on the markets.
I think they see this coming and they're not worried about.
Well -- surrender their not gonna solve anything -- this is a problem that's been going on for eighteen months since 2011 and the debt ceiling deal that.
But here's a white it's gonna go thrill but it'll only last for about three or four weeks is in March 27 we're gonna come -- against the funding bill that they need to pass and that could negate everything but.
For Obama it's really tough situation because then we're -- be operating from a lower spending level that the sequester caused an estimate the argument.
That we can still grow and pay for all the government programs he outlined in his state of the union and I don't think he has an argument there anymore.
On the -- she's right to vote credited -- about the next battle you know and com Dave and that is.
You know another possible government shutdown we run out of money you gotta gotta.
Just a few weeks after -- that planes are gonna fall out of this guy and you won't get taught your kids won't get -- the fire fires.
This is the fear and loathing game -- and what I don't like about this is we essentially have a president that's a petulant child.
In the ways -- -- any stamping his feet.
He owns the narrative because the Republicans gave it away.
I told you this when we went through this debt ceiling battle sequestration was a bad idea.
This was kicking the can down the road and the president doesn't believe in this so he's not going to cut -- isn't even -- -- It's -- slowly in the rate of growth.
So it's typically what happens in Washington they have -- come up with a solution.
And we have political gamesmanship over economic solutions sorry president petulant stamp your feet all you want hold your meeting on Friday the first.
The real danger here is the method in the sequester you've really do about it you don't.
And I'm sorry guys you know -- guys go back to that charges a lot of people see that did not know what it was -- about but this is whether -- -- about it and he said it -- eloquently.
Then then I think this chart even shows you that we are not cutting anything.
We are just slightly.
Curtailing what is other -- the inexorable growth.
In government it will just grow a little less inadvertently.
-- standard -- gets back to this notion.
Whether we get something -- do what you were saying a deal to avoid sequestration deal or something that I'm seeing this sequestration deal.
In the end it's no real big deal because we're still spending like drunken sailors and yet the markets.
Either seem okay with that or Ben Bernanke's going to rescue them from the fallout from that.
But that is just -- a precarious foundation on which to build a bowl.
Put nobody's really seeing -- as a real cuts that are on the table.
-- -- we're hearing threats of our multi.
Multiple -- lines that the TSA to get into the airport and -- say -- of your hamburgers can be compromise and even traders down here.
On the floor were warned that this could impact some of the trading of some of the products that they trade on a daily basis.
I mean -- scare tactics are out there -- how much money are we really talking about here.
You know the White House is -- 85 billion that Congressional Budget Office -- they have more like 44 billion so are we really talking about.
Real cuts that would really have a significant impact from the economy markets are telling had not home.
Markets -- -- -- -- lights and markets are telling us that they don't reflect what's going on with the economy needle the reality is that you can't connect to one to one correlation of the market to the American economy.
The economies weakened by the -- 44 billion dollars.
That's what about ten days worth of borrowings so what we essentially happening right now.
-- a government that has decided we're gonna take ten days off from borrowing which they really aren't.
It it doesn't affect us again it's the method that's the problem.
The men are fighting Iraq and show that is yesterday -- really what could be so the bottom line it's for Republicans are -- the short -- -- the -- stick around as there -- looked abundant being the villains the obstinate.
You know you know what's and and it's in the four president's trying to cobble together.
Something constructively how is it that they're always always on -- Well yeah it it's narrative of the media but look here's a thing.
Like you said it's a very small fraction and it if the American public is gonna blame Republicans are likely much to blame because this 85 billion dollars or cutting is just.
For example a fraction of what we spent an -- bail -- we're not gonna have the doomsday.
And it just doesn't do anything to stabilize our economy at a -- level of certainty because we're doing something to reduce our deficit.
The that'll be helpful for the economy and eventually may be helpful for Republicans guys I want to thank you wolf in.