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Apr 24, 2024
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alan greenspan, maestro. [applause] let me tell you a quick story with alan greenspan.ator. everyone was so enthralled by you know what he was going to do they had this sort of way he carried the brief cast or whatever, they would sort of get a hint. my opinion on green green is i think he might have actually though created a monster because the federal reserve is far too big and far too important to other economy and our stock market, it really is. and right now we're in in the mt perhaps of another mistake by the federal reserve. the business cycle has all blown up. you can't really start a business. you don't know if interest rates will be up or will be down. it is an absolute unmitigated nightmare. they need to stop trying to save the stock market. they need to stop being popular. if it is time to put down some pain, it is time to put down some pain. folks here we go. are you ready? what year did green grind give his famous irrational exuberance speech? was it 1990, 2000, 1996, or 1986? ♪. you only have one letter you can choose though. my man got all of them, g, h,
alan greenspan, maestro. [applause] let me tell you a quick story with alan greenspan.ator. everyone was so enthralled by you know what he was going to do they had this sort of way he carried the brief cast or whatever, they would sort of get a hint. my opinion on green green is i think he might have actually though created a monster because the federal reserve is far too big and far too important to other economy and our stock market, it really is. and right now we're in in the mt perhaps of...
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Apr 1, 2024
04/24
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chairman greenspan appreciated the value of productivity to driving non-inflationary growth.also had inflation about 3% for the entire decade and a 10 year that adverse 5-7% for the entire decade. if you get the right fed action and it may be wise to pull from the 1995 playbook, you can get stock appreciation coexisting with higher adjust rates in relatively higher inflation. that's where i think we are. katie: it feels there are a lot of parallels to the 1990's in terms of the price action on the market but also when it comes to the monetary policy. when you think about these tech companies, it seems everyone loves to hate them but they can provide reliable growth when you are not necessarily getting that in the economic backdrop at you think about the environment right now and the u.s. economy is on strong footing and yet you have tech leading the way. do you see any batons being passed off to the cyclical market? >> i think we started to see it already. if you look at industrials, they have done quite well and some financials but not every financial. i think the health car
chairman greenspan appreciated the value of productivity to driving non-inflationary growth.also had inflation about 3% for the entire decade and a 10 year that adverse 5-7% for the entire decade. if you get the right fed action and it may be wise to pull from the 1995 playbook, you can get stock appreciation coexisting with higher adjust rates in relatively higher inflation. that's where i think we are. katie: it feels there are a lot of parallels to the 1990's in terms of the price action on...
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Apr 23, 2024
04/24
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chairman greenspan was aware that fiscal spending was inflationary he went to congress and when they him, he said, stop spending money >> nancy, great to see you i really commiserate with that third of a mile commute. nancy tingler, appreciate it cnbc pro ran a screen and found six s&p 500 stocks that tend to rise when tesla shares fall. ebay and wells fargo are among them for the full list, go to cnbc.com/pro >>> coming up, the house passing the measure that could result in a tiktok ban here in the u.s but bytedance showing it's not going down without a fight a very expensive fight we'll dig into big tech's lobbying spend, next sometimes they need help cutting through the noise, to ensure fresh investment ideas keep flowing, and to analyze the market from every angle. at allspring, we deliver the unexpected, by relentlessly exploring where others don't. allspring, follow the insight. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for
chairman greenspan was aware that fiscal spending was inflationary he went to congress and when they him, he said, stop spending money >> nancy, great to see you i really commiserate with that third of a mile commute. nancy tingler, appreciate it cnbc pro ran a screen and found six s&p 500 stocks that tend to rise when tesla shares fall. ebay and wells fargo are among them for the full list, go to cnbc.com/pro >>> coming up, the house passing the measure that could result in...
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Apr 22, 2024
04/24
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i wrote a big piece on greenspan over the weekend. volatility, the big volatility.ere is what is interesting. listen the vix, i don't know. it has been down for a long time. we haven't had this volatility. when it got above 20 and went above 21 okay everyone is saying now volatility is back. we didn't close there. in fact now we're below 18. how concerned should we be it will become more of a volatile ride? >> i think it will be a bit of volatility but it is a short-term story. the macro in a good macro environments you tend to get typically lower volatility. the spikes are not as high, they're not as enduring, et cetera, et cetera. charles: right. >> yes, i don't think this correction is done yet, completely finished. we're bouncing but volatility will not do what it did in 2022 i think. the macro doesn't support that. charles: liquidity is a big factor of the market. a lot of folks are worried about the reverse repo program. i read your note. you have concerns about it as well. on its way to zero. what happens there? >> i think that is what the market might be ant
i wrote a big piece on greenspan over the weekend. volatility, the big volatility.ere is what is interesting. listen the vix, i don't know. it has been down for a long time. we haven't had this volatility. when it got above 20 and went above 21 okay everyone is saying now volatility is back. we didn't close there. in fact now we're below 18. how concerned should we be it will become more of a volatile ride? >> i think it will be a bit of volatility but it is a short-term story. the macro...
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Apr 16, 2024
04/24
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stabilize the dollar, make the dollar as good add gold add gree greenspan did. you will see the economy grow, and fed could take a languaa long-term vacation. larry: there will be a million polls, but, the gdp tracker from atlanta fed is now moved to 2. 8%, for the first quarter. which ended march 31. this would mark third straight quarter of all call it 3% plus growth. the economy surprise you? >> well, yeah. it is better than i thought it would be, but reminding you, you know what fastest growing sector of economy is. >> i do. >> government. >> right. >> real counts -- >> i passed ireland test, i have to know government spending. >> we should not count government spending as part of the gdp . larry: so, government spending. >> i'm dead. >> presumably stimulating consumer spending, we have demand. are we getting it on the business side? or and or is that demand outstripping supply of business equipment machin machinery. how lopsided is this economy? >> it is very lopsided. and you mentioned right thing, equipment investment has been declining for a few quarters
stabilize the dollar, make the dollar as good add gold add gree greenspan did. you will see the economy grow, and fed could take a languaa long-term vacation. larry: there will be a million polls, but, the gdp tracker from atlanta fed is now moved to 2. 8%, for the first quarter. which ended march 31. this would mark third straight quarter of all call it 3% plus growth. the economy surprise you? >> well, yeah. it is better than i thought it would be, but reminding you, you know what...
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Apr 16, 2024
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it is similar to 1995 in our view under greenspan's leadership at the fed orchestrated the state of landingeconomy i think the same this year positive for banks. maria: maybe that won't happen we won't get a soft landing, we won't actually see interest rate cuts i spoke with james grant the other day, the editor founder of grant interest rate object vr he through out idea of a like in interest rates here walk in march before anybody was talking higher rates, watch this. >> you are not expecting a cut in rates anytime soon. >> no, the thing well they say -- the three-ish is fine. >> 3% inflation. >> yes, it is concern over inflation, and to focus on financial stability if they would define it so but i think also a chance maria that the fed raises if they are confronted with an accelerating rate of the inflation, feel they have no choice who is to say that 3.2% thing couldn't go up, to 80 dollar oil price no longer 70. maria: now oil up to 85, so who is to say that we are going to get this you know -- scenario here especially when you got customarily real estate being questioned, interest rat
it is similar to 1995 in our view under greenspan's leadership at the fed orchestrated the state of landingeconomy i think the same this year positive for banks. maria: maybe that won't happen we won't get a soft landing, we won't actually see interest rate cuts i spoke with james grant the other day, the editor founder of grant interest rate object vr he through out idea of a like in interest rates here walk in march before anybody was talking higher rates, watch this. >> you are not...
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Apr 27, 2024
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judy greenspan, a teacher from oakland, felt compelled to join them. >> it is very, very important that jewish educators come out in support of the students. palestinian, jewish progressive solidarity activists who are basically risking everything. >> organizers say these protests will continue until the university agrees to divest. now, a spokesman for uc berkeley tells us they won't be changing any investment policies here, but the university is allowing these protests to continue, they say, because there haven't been any disruptions to classes here on campus. greg. >> joey, other universities have seen a heavy police presence at these protests. is that happening at berkeley? >> you know, we haven't seen any police out here on this campus around the protests here for the several hours we've been here today, greg, we were told by a spokesman for berkeley that they were told by the uc system president's office not to call police unless there's any sort of threat to campus safety. they say that has not happened here during these protests. greg >> all right. joey horta, live at uc berkele
judy greenspan, a teacher from oakland, felt compelled to join them. >> it is very, very important that jewish educators come out in support of the students. palestinian, jewish progressive solidarity activists who are basically risking everything. >> organizers say these protests will continue until the university agrees to divest. now, a spokesman for uc berkeley tells us they won't be changing any investment policies here, but the university is allowing these protests to...
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Apr 11, 2024
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. >> there's the tightening like open occurred in '99 with greenspan, and there's the slam the brakes, which the fed did, to really control inflation. and that's a trickier tightening. so inflation has come down, but it doesn't have a two handle. it's likely not getting there so quickly. the important point as an investor is to buy stocks irrespective of what the fed is doing and whether they will tighten or not. maybe they'll tighten two times -- >> tighten? >> i'm sorry, loosen, the second hatch of the year. maybe not. the point is to identify names generating free cash flows that will do well in an environment irrespective of the fed. >> you've been negative of the market for a long time, right? are you still today? >> no. >> you're not? are you more -- let me ask you this. why don't you characterize your own level of constructiveness, if you want to put it that way, from someone decidedly negative for many, many months going back a year, it feels like. i think that's a fair assessment of your view. you tell us today where you're at. >> we raised cash 18, 20 months ago, and bought
. >> there's the tightening like open occurred in '99 with greenspan, and there's the slam the brakes, which the fed did, to really control inflation. and that's a trickier tightening. so inflation has come down, but it doesn't have a two handle. it's likely not getting there so quickly. the important point as an investor is to buy stocks irrespective of what the fed is doing and whether they will tighten or not. maybe they'll tighten two times -- >> tighten? >> i'm sorry,...
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the markets the last two days, i long for alan greenspan, going from building to building instead ofches for central bankers. three rate cuts, two, one, maybe 0. neil: gone are the days -- i don't want to break away from you. it hit the metropolitan area. see how things work there. >> we know how this could impact you. we are ready for the unexpected. this is new york city and we respond and update new yorkers as we get more information. i will now turn it over to the commissioner. >> thank you for being here today. thank you mr. mayor and by colleagues for their response to this. neil: we will monitor this, to update you there has been a 4. 8 earthquake in the new york metropolitan area, mostly at the epicenter in northeast new jersey. a lot of shaking, rattling and rolling going on, no injuries we know of but some buildings were clobbered a little bit. they are inspecting railroad tracks, we are keeping an eye on all the new york city area airports that are open for departing and arriving flights. they've checked their runways and seem to be in good shape. hope it starts that way.
the markets the last two days, i long for alan greenspan, going from building to building instead ofches for central bankers. three rate cuts, two, one, maybe 0. neil: gone are the days -- i don't want to break away from you. it hit the metropolitan area. see how things work there. >> we know how this could impact you. we are ready for the unexpected. this is new york city and we respond and update new yorkers as we get more information. i will now turn it over to the commissioner....
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Apr 23, 2024
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maria: during greenspan era bob i want your take on a call this morning, ubs is lifting chinese stocksn't usually see this, less these days because of increasingly, business is turning away from china. or certainly raising the red flags of national security risks with china i have been railing on fact american investors are funding the expansion of our number one adversary over and over again with chinese stocks all of our indices ubs this morning raising recommendation on key chinese stock index to overweight telling people, bullish car msci china index what do you think about this? >> that is gutsy move china has a lot of problems as you know the real estate problem too many00 story buildings with debt nobody living inside them demographic problem trying to get economy going with only mixed success i think china is going to be touch-and-go you are right with competitive nature of china trying to take as many consumption tlardz for their kwun. >> national security threat to buy compensates making missiles, making military obviously, out there gutsy as you said how do you want to alloc
maria: during greenspan era bob i want your take on a call this morning, ubs is lifting chinese stocksn't usually see this, less these days because of increasingly, business is turning away from china. or certainly raising the red flags of national security risks with china i have been railing on fact american investors are funding the expansion of our number one adversary over and over again with chinese stocks all of our indices ubs this morning raising recommendation on key chinese stock...
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Apr 15, 2024
04/24
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>> you know, maria, if we go back in time with alan greenspan, i think jay powell is getting better athis. in the near term, the fed doesn't have to do anything and i think the financial media was talking six rate cuts early this year. we may not see any rate cuts this year, it might only be two, the second half of the year. for the riskier, risk-on investments that's going to throttle down, in part a valuation for growth equity. the u.s. economy is strong. they don't have to do anything right now. maria: we'll leave it there. great to see you this morning. have a great week. ken leon joining us. we'll be right back. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. hi, i'm ben and i've lost 60 pounds on golo. (guitar music) with other programs i've tried in t
>> you know, maria, if we go back in time with alan greenspan, i think jay powell is getting better athis. in the near term, the fed doesn't have to do anything and i think the financial media was talking six rate cuts early this year. we may not see any rate cuts this year, it might only be two, the second half of the year. for the riskier, risk-on investments that's going to throttle down, in part a valuation for growth equity. the u.s. economy is strong. they don't have to do anything...
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Apr 3, 2024
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greenspan back in the '80s made a call about the uncertainty of productivity.was right about that and kept the economy of having to suffer through higher interest rates. at some point, powell or the next fed chair will have to make a call on productivity and it will impact monetary policy. >> deidre, really quick. what matters now suspect productivity, it's labor force growth. that's extraordinary. that goes back to powell mentioned in his speech, much more important is the surge in foreign immigration. that's why we've been able to grow so fast and generate so many jobs and still wage growth is moderating, inflation is coming in. so the real story here, maybe steve is right, but it's really about labor force growth. that has more -- >> on that note, that better than expected adp number led goldman to up its forecast for this friday's jobs report. steve, do you see that in line with what you're thinking? >> yeah, let me just point out this labor report is great, but diana better figure out a place for these people to live. >> apartments, lots of supply. >> i do
greenspan back in the '80s made a call about the uncertainty of productivity.was right about that and kept the economy of having to suffer through higher interest rates. at some point, powell or the next fed chair will have to make a call on productivity and it will impact monetary policy. >> deidre, really quick. what matters now suspect productivity, it's labor force growth. that's extraordinary. that goes back to powell mentioned in his speech, much more important is the surge in...
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Apr 2, 2024
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what the greenspan moment that chair powell was having or was having a week ago. the idea that immigration and immaculate disinflation is good enough to avoid an uptick in inflation. i asked that we are going to have more inflation and more inflation volatility and more rate volatility for the next several years as a result of the inflationary backdrop we are in. >> you think the bulls need a rate cut this year for the market to continue to go up or not? i get the feeling kristin and dan will say no. not necessarily the economy. this trumps everything else which means earnings remain goodrich at the end of the day is probably more important. >> that is the big if. if earnings can remain strong. with an economic backdrop like we have it is possible that we are seeing the consistent wage inflation in particular. taking bites out of corporate margins. over the course of the year, earnings may very well be in to the weekend. in which case you absolutely need to suspend the market. if we are coming in june because we see the labor weakened, that might be a very tactica
what the greenspan moment that chair powell was having or was having a week ago. the idea that immigration and immaculate disinflation is good enough to avoid an uptick in inflation. i asked that we are going to have more inflation and more inflation volatility and more rate volatility for the next several years as a result of the inflationary backdrop we are in. >> you think the bulls need a rate cut this year for the market to continue to go up or not? i get the feeling kristin and dan...
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Apr 8, 2024
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we're not in the greenspan era where his voice was the only one that had the microphone, that had the megaphone, and it is the way it is at this point and there are times where they're very aligned and you don't get a lot of volatility associated with fed speakers and this doesn't happen to be one of those moments and it wouldn't surprise me if at the point we get some sort of action on the part of the fed that you might not have everybody on the same page. let's assume the next move is the cut. we wouldn't surprise me if there was a dissent or two at that point. >> steve, this all raises the stakes for cpi and ppi upon. >> i take more comfort that there's more disagreement. it kind of bugs me when everyone is on the same page and it makes me think that the committee is all victim of the group think and i think liz ann would agree there are differences on the outlook on the market and those should be reflected, i think, on the fed. first of all, you asked the question, is it too much fed speak? when we get to a point where the market is misrepresenting the meeting and there's too much
we're not in the greenspan era where his voice was the only one that had the microphone, that had the megaphone, and it is the way it is at this point and there are times where they're very aligned and you don't get a lot of volatility associated with fed speakers and this doesn't happen to be one of those moments and it wouldn't surprise me if at the point we get some sort of action on the part of the fed that you might not have everybody on the same page. let's assume the next move is the...
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Apr 11, 2024
04/24
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now all of sudden he is trying to be alan greenspan. he is not trying to be paul volcker.esting class, not americans who are dealing with inflation. >> the investor class or less charitiably other interests in washington. james o'keefe came out with this investigative hidden camera interview with a fed economist. it looks like they have got a finger on the scale. so you know, this is really, i think the fed's credibility is on the line both their credibility in terms of fighting inflation. their credibility in terms of generally politically neutral. charles: quickly, before i let you go, speaking of the federal government, cbo coming out with first quarter deficit. a month ago they said, for the whole year we would be at 1.5 trillion. the current runway is four trillion. getting to the point, so absurd, a trillion here, a trillion there, who cares? >> it really is. and you know i think what's most distressing to people, there is no help on the way. it is a uniparty, bipartisan operation. they have fight over who gets to spend more money. at some point, really the bond vigi
now all of sudden he is trying to be alan greenspan. he is not trying to be paul volcker.esting class, not americans who are dealing with inflation. >> the investor class or less charitiably other interests in washington. james o'keefe came out with this investigative hidden camera interview with a fed economist. it looks like they have got a finger on the scale. so you know, this is really, i think the fed's credibility is on the line both their credibility in terms of fighting...
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Apr 15, 2024
04/24
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it by raising interest rates, depressing the economy of the stablize the dollar as good as gold as greenspanblize and the economy grow and the fed can take a long-term vacation. leave the economy alone. is, joe biden's numbers. larry: joe biden's numbers narrowed the in the "new york times/sienna poll." there will be a million polls. the gdp tracker from the atlanta fed has moved up to 2.8% in the first quarter ended march 31st. they're still tallying it. third straight quarter of i call it 3 plus percent growth. the economy surprise you? >> yeah it is better than i thought it would be, i want to remind you, you know what the fastest growing sector of economy is? larry: i do. >> government. larry: i passed the ireland test. i have to know about government spending. >> kevin we shouldn't even couldn't government spending as part of gdp. larry: so government spending -- >> and debt. larry: presumably stimulating consumer spending, are we getting it -- so we have demand. are we getting it on the business side or, and/or is that demand outstripping supply of business equipment, machinery and so
it by raising interest rates, depressing the economy of the stablize the dollar as good as gold as greenspanblize and the economy grow and the fed can take a long-term vacation. leave the economy alone. is, joe biden's numbers. larry: joe biden's numbers narrowed the in the "new york times/sienna poll." there will be a million polls. the gdp tracker from the atlanta fed has moved up to 2.8% in the first quarter ended march 31st. they're still tallying it. third straight quarter of i...
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Apr 12, 2024
04/24
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i mean, listen, honestly, to be quite frank, listen, alan greenspan maybe set this in motion, the so-calledhest day in market history, but we've become so accustomed to the fed coming in. so many people have taken their eye off fundamentals. ultimately, is that what folks should be focused orange knowing what you own and knowing when they're on sale? >> at the end of the day, charles, it's a market of stocks, not necessarily the stock market. and one of your guests was talking about technology, energy. look, there's companies that irrespective of what's going to happen with the overall economy like technology, they're going to continue to do well because they're going to create efficiency, create economies of scale. so i think in these types of environments, i guess like always you have to look for individual plays that are going to be able to do well, and i think there's a lot of names that investors can hang their hat on. charles: all right, let's talk about a couple. i know you like a lot. i've got to go with netflix. now, i had netflix. we closed it out for a huge gain. what is it that
i mean, listen, honestly, to be quite frank, listen, alan greenspan maybe set this in motion, the so-calledhest day in market history, but we've become so accustomed to the fed coming in. so many people have taken their eye off fundamentals. ultimately, is that what folks should be focused orange knowing what you own and knowing when they're on sale? >> at the end of the day, charles, it's a market of stocks, not necessarily the stock market. and one of your guests was talking about...
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Apr 5, 2024
04/24
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remember, alan greenspan raised rates during the bill clinton election. people don't remember this. this is 32 years ago. and george herbert walker bush accused him of playing politics. the fed has the matrix of keeping the markets calm, getting inflation down to the number they want and not being accused of playing politics. so, that's a very tough matrix to run the gamut through. i think they have no choice, they cut the rates. we're not talking about the debt but let's talk about it for a second. over $1 trillion in interest payments at these rate levels. jerome powell himself and others have said we have a huge debt crisis in the country and we have to get that under control as well. i think the fed will help congress buy some time with lower than expected interest rates. >> at least three. anthony scaramucci never holds back. >> good to be here. >>> coming up, going beyond the mega caps. that's how one top money manager is looking to play the next leg of a.i. trade. dan chung is here at post 9 to lay his top ideas out and make his case for why the bull market is just getting st
remember, alan greenspan raised rates during the bill clinton election. people don't remember this. this is 32 years ago. and george herbert walker bush accused him of playing politics. the fed has the matrix of keeping the markets calm, getting inflation down to the number they want and not being accused of playing politics. so, that's a very tough matrix to run the gamut through. i think they have no choice, they cut the rates. we're not talking about the debt but let's talk about it for a...
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Apr 18, 2024
04/24
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>> you know, i think alan greenspan served more than 2 terms and i think did a very good job during hisbe up to the president to make the right call >> neil: it's a vary threading the needle answer, that was well played neil very good seeing again thank you ray much. >> take you for having me neil. >> neil: oddly spells his name differently but we are always fighting over that, number not actually peer i just noticed. we have a lot more coming up including you know what happened yesterday the impeachment effort to get rid of the homeland security secretary didn't work. but there was a plan in place that would've made the whole thing a moot point that sort of fell apart, the bipartisan deal crafted by 1 senator james langford who is next - it's apparent. not me. - yeah. nice going lou! nothing like a little confidence boost to help ease you back in to the dating scene. that includes having a smile you feel good about. fortunately, aspen dental specializes in dentures and implants made just for you. and with flexible financing, you don't need to sacrifice quality work for a price that fit
>> you know, i think alan greenspan served more than 2 terms and i think did a very good job during hisbe up to the president to make the right call >> neil: it's a vary threading the needle answer, that was well played neil very good seeing again thank you ray much. >> take you for having me neil. >> neil: oddly spells his name differently but we are always fighting over that, number not actually peer i just noticed. we have a lot more coming up including you know what...
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Apr 24, 2024
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and bernanke took over for greenspan kept rates at about five the fed can cut a little bit manage itbut can't really whack rates like in the last decade. >> your view whether stocks continue to perform well is based op whether the fed cuts or not? >> no. fed is extremely important. rates driven, second delivery, machine. we think, just thought valuations some of the internet -- excuse me the a.i. hype a little overdone. looking for 10% correction off march 28th down to about 4750 on s&p 500. trade around these ranges. >> e okay, earnings, multiple already as good as it's going to get? >> had a minor earnings recession outside of tech. negative outside of just -- >> better now, aren't we >> yes you're seeing earnings, employment, these arela late-cycle phenomenal. after the pseudorecovery, fed has to be on guard. >> interesting correction earnings goal up 10%. >> just it earnings probabl struggling to do 10 this year. interest rates have -- normalizing of interest rates is up gets complicated has to do with r star neutral rates, term premium, but generally speaking, we think a higher
and bernanke took over for greenspan kept rates at about five the fed can cut a little bit manage itbut can't really whack rates like in the last decade. >> your view whether stocks continue to perform well is based op whether the fed cuts or not? >> no. fed is extremely important. rates driven, second delivery, machine. we think, just thought valuations some of the internet -- excuse me the a.i. hype a little overdone. looking for 10% correction off march 28th down to about 4750 on...
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Apr 2, 2024
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>> my view is, i feel ever since greenspan was in charge of the fed, the fed has always been extremelyct on markets. and when powell said -- i think it was last week, it feels like an eternity ago, that financial conditions are tight, i was like, what planet are you on? >> so, i mean, my view is the economy is fine, i think there should be no fed cuts this year, and the market will do whatever the market does, but the economy is fine and why would you cut -- my actual fear is that if the fed were actually to cut rates, the market goes into -- it becomes i guess bubblicious. and then we have a real problem. the fed should do nothing and because there's no weak data. >> we still argue, we look at rates in absolute terms or do you look at them -- >> that's a big -- >> but in absolute terms, they're not -- in absolute terms -- they're high. but they're up 500 basis points. >> has anything bad happened? nothing bad happened. >> i remember 7 and 8% in businesses that did just fine. >> the economy is good. it's reaccelerated somewhat. why would you -- on what basis would you cut rates? >> som
>> my view is, i feel ever since greenspan was in charge of the fed, the fed has always been extremelyct on markets. and when powell said -- i think it was last week, it feels like an eternity ago, that financial conditions are tight, i was like, what planet are you on? >> so, i mean, my view is the economy is fine, i think there should be no fed cuts this year, and the market will do whatever the market does, but the economy is fine and why would you cut -- my actual fear is that...
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Apr 8, 2024
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i wanted to speak about the housing because i remember when greenspan during the bush era had put theerest rate at zero and everybody wept to the races. everybody used their homes for second mortgages. they would buy a house, flip it, make money and at that time houses became an investment, a good moneymaker. then we had in 2007 the mortgage crisis where people who whatever reason they couldn't make their loans. they would try to negotiate with banks and the banks wouldn't negotiate. these people lost their homes. the only ones who could afford -- well, we had corporations buying up slews of housing and today it continues. the only people who really can afford homes are these companies, not the ordinary mom and pop. i say we should have a law, if you are going to buy a house you have to live there full time. and stop this investment in houses because we need places to live. you cannot build your way out of this. we have places like key west, environmentally sensitive, we cannot fit any more houses here. we are overpopulated. we have so much traffic. then you have pollution. you have o
i wanted to speak about the housing because i remember when greenspan during the bush era had put theerest rate at zero and everybody wept to the races. everybody used their homes for second mortgages. they would buy a house, flip it, make money and at that time houses became an investment, a good moneymaker. then we had in 2007 the mortgage crisis where people who whatever reason they couldn't make their loans. they would try to negotiate with banks and the banks wouldn't negotiate. these...