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Stocks posting another record setting day I have -- fed chair Ben Bernanke's testimony in front of the joint economic committee tomorrow.
Joining me now with his public his perspective.
-- his savvy if you -- Michael Holland president -- the Holland balance -- It's his remark -- choked up with whatever up.
Whatever here good to have you with us and myself I was savvy enough to Wear yellow -- that was -- -- -- thank you well -- The terrible splendor of the yeah.
The idea that -- that this market is just continuing to set records I mean it's laughable.
22 records on the Dow off seventeen records on the -- and pay them.
And everyone says it can't happen and every week a dark what what's the deal.
We have been listening to -- those claims or four years now with the stocks have.
Move kind of grudgingly higher with all of the problems that all the viewers know about.
One problem with that with the negative view has been and continues to be.
Federal Reserve Ben Bernanke he said for years ago that no one else -- Washington in Washington this you know better than anybody is doing anything healthy economy.
His job is twofold one is price stability the other is it is the economy to get jobs.
And what he said -- I'll do what I can he continues he says whatever it takes it he's been doing it is continuing to do it.
You think it's really fair to say that Washington's anti and that the Democratic Party this administration's anti business.
They're throwing -- Rico statute and and that an insider trading investigation.
They're going after apple lumbered for taxes that they haven't paid -- -- they've you know.
If it just one thing after another they couldn't be more anti business it seems.
If they trying to.
The actions speak they can say whatever they want -- and speeches but they have to listen to the head of apple today give the -- Story it was wonderful.
He said every single dollar the company owns that's six billion of them as he reported few minutes ago.
They paid in fact they don't even I stopped it saying we'll pay everything that we will actually go in the spirit of what we and then the people who actually.
Drop the laws are the ones who are trying to land east of.
I'll -- -- Paulson and senators that brought somebody on the stand there but a premiere of the doctors -- terrific like they created the monster.
Gallup shows -- stock ownership of the -- -- nearly 2% and the since 1998.
Where's the retail market is it ever coming back and it and based on this do we really need to retail market.
Not to get stocks higher and.
Or -- who went went hysteria shown us is that people get enthused at the wrong time.
The viewers who are Smart enough to watch your show should be Smart enough to begin if they don't own stocks to own a few here.
Because they still really really mean -- values because of the fact that they are not owned by.
Most people there is in fact -- they came out last week.
The endowments universities used to be 50% of stocks.
Owned stocks two years ago.
It's now 30% -- -- ownership is way down so we you have a situation a little surprised JPMorgan apple their stocks yield more cash healed.
More than their bonds.
People are still buying bonds so that does make sense that there's a lot.
But that's one of the reasons -- all of Africa.
We're not entirely predictable.
Except for the stock market -- I'm asking you to predict where we've -- -- we have ahead of us this year I'm more up.
It's not over because of Bernanke and didn't until he says we -- creating enough jobs and we're not even close he's gonna keep.
Priming the pump.
Aren't all has always been everything from the markets.
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