Also in this playlist...
This transcript is automatically generated
You look at the Dow trading below 101000 the final hour trading.
And at the -- if you're that we are still settling we could stay as David noted below ten.
Let's get to our very special edition of the Bulls and -- -- rock legend and this -- -- Gene Simmons along with Gary v.s net.
Scott Martin and Caroline Helmand -- a lot of -- stocks today lately -- it's a sign of what you see across the country.
I think this volatility comes down to one thing there is very very little confidence.
And how the captain is running the ship.
For those of you that tune in and watch fox and -- business let me explain it to him and hold up a sign.
This is a T shirt that everybody in the administration should be wearing -- hop on there you go on land so there you go -- we have another big words like gymnasium -- sort of a unit.
Here's what it means stop hiring college professors who make sixty -- a week of Berkeley.
To be your economic advisors and government get some seals who have actually run some companies.
Is simply based on a lack of confidence on the street and big business we although the same thing there are trillions and trillions of dollars.
That are ready and waiting to be to come back into the economy when everybody's scared that with regulation and people don't know what they're doing it's going to be mishandled so.
That there's a lot of good stuff we just have to clear where the garbage got the -- -- -- to teaching.
Ideology and in Berkeley and get some get some Goldman Sachs guys in there -- ought to run aboard somebody forestalled.
Very good I think I think Gene Simmons makes his superb point which is -- fact that these academics.
Don't really care or they don't notice is much what's going on in reality.
As folks who were on the front lines of small business decides even even the Goldman Sachs people they know more about it.
And these guys are nowhere to be found in this administration.
Exactly well 11 thing I will -- is that I'm glad lives claim in Berkeley grad is not sitting next to -- Right now other right to get a sharp elbow in the stomach but.
He does make an excellent point as far as I can tell I've looked pretty closely there is no one.
In the Obama administration is certainly at the cabinet level that is ever had a payroll -- hire someone ever -- someone.
Ever had to deal with a captured -- so exactly to that point.
There's a huge difference between ideology is -- said and practical applications.
Business people know out there for example you can't just give a business a tax credit.
To hire someone has to be your reason and -- the reason is either their revenues are up or their costs are down and the only -- costs can go down.
Is from the government by cutting taxes and yet they the administration just.
Doesn't see that or they think they know better and and and Jane's right that's a large part of the kind of hopelessness out there in the market but I think -- -- getting it right.
I'm so I respectfully you raise the real core of the problem.
President Obama who I'm guilty of having voted for.
I am guilty as charged and I think the Fed and the entire administration is guilty as charged.
-- when we got exactly what we voted for a man who we believed in the idea that we got an idealist.
A man who's got two years of experience in government and has never run a company we got exactly what we voted for.
They are girls yeah.
You know ironic really hang on Carolina want to get to Scott Martin.
-- -- being Gene Simmons points dot Barton Biggs big hedge fund manager saying that soft patch that we are and is headed into a double dip.
Because of about the withdrawal of all the government's stimulus speed autos -- homes be -- for appliances.
He's seeing negative GDP for the next two or three quarters we know -- we're gonna see it downward revision in GDP.
Likely tomorrow what do you see I think you agree with Barton Biggs.
The Mac there's probably I don't think -- -- Good numbers coming to be honest with -- I think there's probably a couple more quarters of positive growth but hey.
Positive growth less than 1% might as well being negative now to the consumer side certainly -- -- stimulus being pulled out hurts but I will tell you guys.
If you're talking about private businesses wanted to get involved with the government especially Goldman Sachs I -- I'm in DC today.
I'm a little too close to the government here for my liking I'm from Chicago.
I'm done -- nobody in the private sector wants to go anywhere near the government.
Because the government shot there representation.
Are there -- third reputation with those private businesses that they need the help from.
Arnold Caroline you're shaking your head no I know you want to object a lot of what's been said but I got to -- one other name Paul lot -- The CEO of Intel Silicon Valley has long.
-- together -- Democrats marching in lockstep with -- with the Clinton administration.
With Obama but -- -- -- -- is now saying I think this group.
Does not understand what it takes to create jobs and I think they're flummoxed.
By their experiments in keynesian economics not working and is -- Ottawa this -- Silicon Valley Caroline.
Look the entire premise here is flawed.
This economic downturn started in 2000 an aids.
President Obama wouldn't take office for over another year so what we're doing is we are blaming the the -- -- for the actual problem it's a flawed premise the idea that the stimulus hasn't worked is also flawed.
On it is increase GDP six point 5%.
It is kind of change your unemployment number -- million -- hasn't changed socks and.
I'm currently have a wide enough that he hasn't done even that the that -- administration says -- should have done would you say would you Moody's and SCB I'll have come out and said that two point eight million jobs have been either saved or created let's agree let's in my heart speculation of an adult can we agree on what can we agree on one thing in my will offer this.
As food for thought.
Would you say it's fair to say politics aside.
Whether you blame our president -- the previous presidential any president would you agree that Wall Street and big business are very cautious about putting.
Money back into the system would you agree that the people of the United States of America don't trust.
What's going on would you agree that there -- mass unemployment look the mortgage.
Problem one in every ten is in is in danger one and every time.
-- of government mr.
Simmons what complimentary -- Government -- he did well with my economic downturn the government can take to help the government can choose when it wants to come in and -- into our fares up and let it doesn't this show.
I -- -- on the floor -- -- just some final points from -- go ahead and complete uncertainty from the government at the crisis of confidence.
No got no business wants the higher they don't know what the rules of the game not completely changing and they don't want to do how.
All I -- catch up because we got a guest coming up who's got a very tight schedule he's got a big thank you.
Filter by section