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Well whoever is the -- breadwinner in your family and fortunately it looks like they won't be able to give up the gig any time soon.
A new report showing wealth of the average household is still far below the pre recession level.
And with more on this Rick elements CEO of -- financial services Rick welcome back to the show good to see you.
-- -- -- Our -- and drill down on us for us household wealth is down people are having a hard time.
Getting back on track it's interesting that stocks are providing really the major push to getting back on track.
It's really the case and it's really fascinating that not a lot of folks on Capitol Hill are talking about the incredible performance of the economy in the stock market.
Of -- thirteen.
The stock market's doing very well reflecting corporate profits and people are still in disbelief a lot of folks to want to believe that it's real or sustainable.
But in fact it really yes.
You know I think a lot of people out there you worry at about the stock market there and -- -- -- -- they're worried it's a bubble.
And of course you know Americans have seen a lot of bubbles in the past Bayside dot com bubble they think they're saying a bond bubble they've seen housing bubble.
What do you think the right response to that is what is the right action for any regular investor to take.
We have to understand how bubbles occur and try to correlate whether there is one right now bubbles occur when investors throw a lot of money at stocks not because -- fundamental values but because they simply believe stocks we'll continue to rise.
What we see right now is based on corporate profits.
The stock market is priced very fairly.
That is not the case back in 2000 with the dot com bubble certainly wasn't the case in 2008.
But right now based on where the corporate profits are based on economic growth.
There is no bubble at present stocks are price fairly and we're.
Probably going to see a continuation in the markets not gonna continue to grow the rest of this year the way it has so far that would put the market about 50% profit for the year -- won't happen.
But we will see the stocks are likely higher at the end of this year -- they were at the beginning of the year what that really means is you can.
And it's safe to get back in the water and you don't have to have this fear that we're gonna have a returned the 2008.
That's not on the table -- into his car and -- it really counts is the bigger risk rising interest rates at this point inflation at some point.
Yes and take a look the bond market over the past month is good evidence of this -- -- bond market's been down dramatically.
Interest rates are now higher mortgage rates higher than they were a year ago this is bad news for bond holders and the risks that you would I've talked about many times on on your show over the past several months.
Has been the fact that rising interest rates means bad news for bombs.
So it's ironic people who -- fearful of stocks worry you're gonna lose money have run to bonds for safety and it's bonds -- -- gonna call them to lose money.
So you have to wonder what are people thinking and -- have a rational basis for the strategy.
While -- thanks for coming on is always good to hear from you hear our voice of Marines and a -- wife crazy people out there thanks so much.
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