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Independent Women’s Forum’s Sabrina Schaeffer, WSJ Editorial Page Editor Steve Moore and FBN’s Charles Payne on the impact of government on the ...
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I wondered Charles is feeling the he loves the rally as much as the next guy he just doesn't flip over the trigger coming.
-- from these guys and Sabrina Schaeffer.
And Steve Morse shares thanks Charles -- -- a party pooper but I got to see where you're coming from its point.
-- there's two things there's certainly -- that part of this rally which.
I I think a lot of people are aren't -- by getting you know listen the banks have gotten watched a lot of people down plus the housing market's -- back the stock market's coming back.
There's another part of this story that is legit though what these corporate earnings and it's the international broke the global growth.
If you look at the stocks have done extraordinarily well this week.
Priceline Joy Global monster.com.
Chicago bridge and iron after the bell today deckers domestic sales were -- 2%.
-- -- national sales up 16%.
So I think people watching have to understand you have to do is not a direct correlation between the stock market in the US economy for sure.
And what's lacking there the Fed is making up.
You know Sabrina what worries about the larger picture those examples notwithstanding Charles.
-- very nicely.
Been delineated.
Every time I I see -- hand a Ben Bernanke pulling back they sell off.
Every time I hear it -- that he's back did and and relax.
-- like crazy and and I'm reminded of all the federal rescue programs that they might bemoan and say as an end to capitalism as we know it.
Didn't have a problem of course when this -- was done for them.
But date they get DD -- detected it over just the course of the last five or six years.
We've all become.
Indentured servant.
Uncles and yeah yeah and as so often I think we.
Believed that government here is attack on big business but more and more refining that big government big business are really best friends and it's concerning look at you know.
Four billion dollars poured into cash for clunkers is it is drop and that had to look at our investments in green here this is where I am really concerned going -- the president's.
Literally handing out you know handouts to his political supporters and these are failed industries failed businesses.
I'm instead of allowing the market to direct resources went in knowing how long.
You know you think about -- -- -- be allowed them market to decide the fate of a lot of these green initiatives.
They'd be gone.
And and what has happened as defined as success of their survival is well they can't cut -- on their own will -- of up to see.
If that'll be the trek and I really don't undervalued and to the DNA -- local district.
You don't understand you know profitability is right around the corner and I -- Verizon and I happen that's been out -- just sort of you know that's -- just wait a wire or live -- a lot more -- that -- got caught up -- -- -- It out.
I'm a little mystified by how well the market is down over the last -- months I think everything government is doing is pretty bearish.
But you know the -- and I've learned in 45 years in this business has never -- against the American economy and ever -- against American.
Entrepreneur -- I mean the fact that they can make money.
In this kind of environment is a replay attribute.
Few American -- equity that they find ways but I said.
Some of the names and others that Charles mentioned isn't a lot of there's still by and large driven by cost cutting and when the numbers don't -- Then they cut more or even well Wall -- -- have been making a lot of money hand over this -- -- doing is smarter right they've been laying off thousands of Alaska.
Well but you know this look it's attribute I think to.
To business in America -- corporate America.
-- look at their visit their balance sheets today they're pretty pristine I mean they have become really lean their become very efficient.
They've gotten rid a lot of the leverage and and what I see -- but I -- yet -- Steve.
But but but luck that they've become more profitable when they do and they start rehire workers but what hasn't happened is that is exactly the kind of -- that's an efficiency.
In government they get a cut eighty billion out of a -- extra three point external about it I don't know I don't think they know here's the thing -- -- What you're describing this corporate welfare mentality by the way the fiscal -- -- was chalked full of corporate welfare -- -- Europe's Iraq it's actually it actually comes back to haunt you and haunt our economy this is why you listen.
A Caterpillar can sell 30% of -- things outside this country with the big Chicago bridge and ours that we got a gigantic deal Mozambique.
The problem though is that to the -- all the freebies from the federal government the Federal Reserve has made car companies in America.
Sloppy blasted -- there's no rush for them to go out do the right thing Portland noisy.
