You're watching...
Wells Fargo Senior Economist Mark Vitner, DHR International Chief Operating Officer Geoff Hoffman and Henssler Financial Principal Ted Parrish weigh i...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
I'm wondering -- bitten or what the Fed is thinking right now I mean you've got to be wondering what the conversations are there I mean many blame -- for the weak dollar policy that we have now.
And now they're looking at an economy that frankly this administration overall promise us would be back by now -- and we are far from back.
-- far from back -- I really wonder what that discussion is right now because it seems that.
A lot of people are debating how much of this weakness is temporary.
I think a lot of people want to believe that it's all tied to the the tsunami and the nuclear disaster in Japan which cut into.
Parts production in Japan and limited some motor vehicle -- here have been -- in the semiconductor output.
And there's no doubt that there was some temporary imports from that could throw in the tornadoes you throw in the impact from higher gasoline prices.
But even accounting for all of that becoming wasn't -- good before it slowed down.
So what makes people think it's gonna come roaring back I'm really surprised by folks that still have 4% GDP numbers.
Penciled in for for 2012.
And I can be anywhere close to that.
But the economy that isn't isn't on the the edge of a -- either.
This report was bad I mean -- he came in below our expectations we had some of the lowest that we're out here.
But it it it it's not cataclysmic.
-- we are going to see the numbers improve over the next couple of months you're still gonna be pretty soft but they are going to improve a little bit.
And we got pretty decent wage growth average hourly earnings increased.
In the total number of hours worked rose so it looks like personal -- -- it was half a percent.
Even with these dismal employment numbers.
Well mark I certainly am sorry I apologize for five insulting your estimates but everybody pretty much did miss the boat as you mentioned even a year -- lower let me go to Ted -- that you know we've had -- At that so far for the first quarter two quarters of this year decent earnings.
Returns from a lot of these major companies.
But I'm wondering if that tide is now gonna shift and equity investors are gonna have to finally take notice that may be stocks are gonna stop -- a way -- had been.
-- withstand a pull back and I think it was probably about time to see a slight pullback in the markets but.
Overall in general theme of a better earnings it has failed in fact I mean if you look at all -- estimates for the second quarter they've come up in the first quarter actually beat.
This to -- is happening to full year 2011.
Numbers look pretty good for first stocks in general so.
How that may end up -- how is that possible battle when you've got you've got major companies that are not hiring right now.
That says of the enemy about the fact that they're concerned that with both with the -- economy business won't pick up that's what the jobs number tells us tech.
Well that helps their bottom lines I mean they've they're still very efficient I expect to see a good productivity number in the second quarter.
I mean companies aren't harem but dig into the point where they're gonna have to I think that this sales figures.
-- growing and that's that's organic growth so it's not this.
Earnings gains from it efficiency gains as actual sales go -- is demand.
We focus on global companies because you know the global picture is -- -- is more I don't think the US Spitzer is totally dismal.
Me is what we're at a point now where I'm never gonna have to see companies have -- -- nothing they're gonna run up on near the capacities.
Why don't Ted -- dig it out with a multi national that we do cut continue to see strong performance of those in particular with the weaker dollar but overall Jim freshly.
Is still seems to me if we focus on the US picture only.
That we've got a pretty negative number to look at today and -- what does this mean for the rest of the of the third quarter fourth quarter when -- -- Thinking people this country I mean we along with a lot of folks who we're really looking at this number and and I think the concern was -- there was vulnerability if the numbers.
Missed expectations and and the fact of the number got to remember with bad.
Armed consumers' been hit the manufacturing economic releases are have been negative and I think this is kind of the next this is what people were hoping would be counter balance and it hasn't been so.
I know the buzzword out there the president talk about a lot of bullish economist talk about word temporary.
But but my concern is that I actually feel that the slog and and -- not -- and it's gonna take to recoup some of these jobs as much longer that people are estimate.
Let's say what doesn't and that's where that's coming up the next phrases double dip recession and minute and is so much for any type of recovery.
-- -- -- housing -- -- giving you but now we're talking more on QE three.
Can you say QE three I don't wanna I think Harry finally got -- -- And the question.
This morning from -- -- was on radio saying.
He doesn't believe will happen but I've spoken to justice from a several comments this morning not a high profile is bill certainly but he always credible who say that there's a likelihood that it could have.
Happen and not as a form of stimulus but just to keep us from fallen through the bottom so it's getting very scared.
-- can't -- -- ray what's say you know.
-- you know I actually talked to some fed officials -- recently.
And they basically said that they didn't think we were gonna do it can be very no matter what happened -- -- I think -- started to realize that.
That's not the answer here we need some help from Washington that's where the problem is right now we've got to get this budget situation.
Under control we've got to get this health care situation under control this is creating a freezing.
In the economy and an analyst it -- double this jobs -- let's say you know I think it was impacted by the storms -- them back about what's double or triple the jobs growth.
Even giving you still coming in below the lowest expectation.
And you're not see any any driver what it's gonna be the driver.
President Obama's prominent -- green jobs you know new energy jobs.
I don't see him and he's number I don't think -- -- I think you gotta go back to the only energy jobs let's not talk about natural death.
You know he's done more -- slowed down job creation with -- regulation and the energy industry.
I you know drilling moratorium you know we get it let's start focusing on developing natural gas sector create jobs and very quickly but in the meantime -- you know right now this is the -- Well you know what market meaning -- -- the Obama administration has told us that that this extra stimulus.
What what actually taken employment rate lower we should have been according to the administration is 7% by now mark we are.
At nine point 1% unemployment.
Well I think that high speed rail just isn't a -- is just not a very -- to create jobs you know it's it's got a great concept I -- trains but.
But I really just it would seem that if the big job you don't wanna waste waste your money on there if anything anything federal government is actually a trend now I -- we didn't we didn't see a lot of lost job losses.
In in federal when that we have seen a lot of layoffs the latest layoff numbers we got.
That were related aerospace and defense.
You know the -- -- space shuttle program.
These -- these are -- -- big job cuts so.
So if anything governments actually -- a bit of a drag on the stimulus that's pretty much run its course this will be very hard for for the federal government.
Do much else about in in the -- this is the political support just -- -- -- Not -- -- -- but at the same time some stimulus what may -- with on the equities side would be a good thing not -- -- Gonna happen but it's possible.
A couple of quick stock a lot of traders agree with -- that you don't really need these.
Stimulus right just get it out of the way that's artificially inflating the market but it does keep it afloat.
I just talk to Bobby -- -- on point execution.
He says the people gonna sell into the rally.
Last not least pertaining to the government dragging it's feet -- stagnant speed.
Obviously on our debt right deciding match and that's -- movies looking at -- still -- -- AAA rating and also an energy policy we -- -- clear energy policy.
Lot of traders someone like Ted Weisberg with -- that.
Lots -- -- the -- -- a -- to watch the markets they have busy day for you thank you see you thank you -- they'll let out Chicago for the rest of the panel.
Will stay with me and and -- you have been listening to our experts we want to hear from you now -- also pure argue in your job right now tell me what you think.
Email Casone of foxbusiness.com.
Reading -- answer.
