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-- from Layfield energy -- I jumped three big numbers to talk about -- the first big number is 151000.
Do you think we get to 151000 in the -- soon and go up from that.
I think we get to venting about the value yes I don't know house you know that's that's -- dictating certain things that momentum shifts.
I definitely think we get there there is a disconnect between that this economy.
And the stock market that start -- -- for -- -- performed phenomenally.
Over the last couple years you can't say that about the economy so there is a disconnect.
And I think one of the reasons is because we are one of the safe -- -- see what happens in Cyprus people wanna come the US markets and we're still trading at -- -- that traditionally is for discount.
I see a centenarian paradise heavily to somewhere in the Caribbean on has a wonderful backdrop.
Even that even way you law.
You've got people looking to find that passwords so that you get into their investment account and see how much money that night I know that's happening where you law paradise alone though -- my rights.
I'll there's no doubt about it but you -- members -- where does back to where we were before the crash so you've seen people realized that -- gains come back to a home.
So are still not a feeling of wash well and so you're not really having that wealth effect yet.
And and as far as the consumer in our economy in the US at least.
Is 7% her -- consumer and they're not as invested in the stock market as.
You have people he's here in Bermuda for example here in Bermuda -- that is that's -- great place everybody here and Charles to come visit me just say that for a second all right shelves.
-- I notebook on audio you all clients looking for the past -- -- -- you vote luckily my clients are but you know I think John make a great point.
Unfortunately most of the American a lot of people watching this they sold already.
They sold at big losses already and one thing that's really interesting -- -- that come back in.
But you know what that that's different yes he did did he did did tiptoeing -- here's -- here's the most amazing stat of the week.
There's a dim American association for individual investors they do -- -- reading it.
The reading came in -- nineteen point three.
That's the same exact level was -- march of 2009.
8000 points difference that's the same exact level it was in 2009.
The only thing that's crashing so far this year is bullishness -- individual investors it's crazy.
I'm glad you spell that one -- far as I actually thought it was the other way around business that's interest all right -- life you'll still with us from Bermuda.
Got another number four -- four trillion dollars.
A president Obama's gonna be the first president ever to spend four trillion it a cousin he had 2015.
And you'll laugh and walked by.
This is -- disaster -- -- everybody says Simpson Bowles is the greatest thing ever and Obama a present Obama.
And the Republicans dismissed him before the report even came out and they've done nothing exists.
They also they need to cut spending or raise revenue that they're doing none of the above according to -- Obama's budget by the CBO.
We're still facing a trillion dollar deficits ten years from now at some point this becomes unsustainable.
Nobody is willing to do the right thing now because what you're gonna have happen as to what happened prime minister Cameron in the UK.
Now your your favorability we'll start falling because austere measures.
Do hurt the economy it's what we need no politician -- -- was willing to do that.
Well said John I got another -- before your 68%.
That's the people in a Wall Street Journal poll 68%.
Said they're worried very worried about making ends meet what does that tell you about.
We had the lowest labor participation rate since 1979.
We have structurally high unemployment.
Not cyclically high unemployment which is a problem that we have -- United States and were not built for structurally high unemployment which means the Fed keeping interest rates at zero.
Doesn't help structural problems it can help cyclical problems and I think that's what's weighing on consumer sentiment this budget.
But what have a budget we come up with it does not promote growth and we need growth.
-- -- anything else.
I mean 68% of the people say very hard time to make ends meet and Charles has given is great statistics on how well of people sold to.
Years ago didn't get back in not enjoying the fruits of the stock market -- at last would do your job before you go back to the beach got.
-- if we were only in nation in industrialized world about -- energy policy that's the one place we could have tremendous growth we're getting no support from the government now with.
Certain good things are happening.
We need we need a better policy is for job growth and that's not what we're getting on last what do you Charles I think does really Cuba -- JC I think -- -- -- -- -- that I don't -- -- beyond that if you think it's unlikely that we'll go to Q well -- I don't buses.
I'm zealots the I John it was great hearing from you please don't be a strange and Yvonne in company.
No matter where you all right that allowed his third race beyond yourself electoral I don't.
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