gary kaltbaum, kaltbaum capital management. own cheryl casone to add a little beauty to this panel of ugly guys here. i'm speaking for myself. zane, i want to go to you first. president obama, ceo of the world many would say. i'm not revealing anything. you said this before. you voted for him in 2008. is he a winner or loser for 2014? >> neither. he is a big loser. david: why? >> why? because that office carry the weight of the world. our lack of standing position in the world and our economy just started to turn around. benghazi, iraq, out of iraq, back into iraq. you name it. infringement on business, not letting businesses operate. the laws for the laws for the laws. david: gary kaltbaum, he did lose the election, he said election would be about him and his policies. a lost democrat didn't want that but that's what he said and he lost. >> well, i'm going to surprise the heck out of you. i think he is a big winner. david: why? >> look i disagree with everything he does from top to bottom but think about this. the democrats lo

let's bring in gary kaltbaum, kaltbaum asset management president.whole week but -- >> fed nothing but the fed are defining force in the market with easy monetary policy. it is about what they say. they will not do much this week. i'm looking to see if they are dovish or talk about tightening which i doubt they are going to do. liz: do you think they're stuck in a corner, a box so to speak if we see europe and china accelerate losses an weakness yet we start to look better and per, what does food do, gary. >> we are better and better. that's why you see much stronger dollar and weaker currencies over there. yeah, we are in a box and there is not much we can do right now because they have been very slow in moving. david: do you have an idea? frankly i don't think they really have clear idea how they bring down their portfolio. their portfolio is over $4 trillion. how do they get rid of that? >> they don't. they will roll it over. a lot of people believe they will tighten in 2015. i don't think they are because i think a lot of the market and a lot of

we're asking gary kaltbaum, owner and president of kaltbaum capital management, and peter morici, economistuniversity of maryland. on and on we flow here, guys. i'm surprised that the markets didn't react more postively although we had a 300 point gain at one point. what is your reaction, gary? >> i think it's the same old-same

we're asking gary kaltbaum, owner and president of kaltbaum capital management, and peter morici, economist and professor at the university of maryland. on and on we flow here, guys. i'm surprised that the markets didn't react more postively although we had a 300 point gain at one point. what is your reaction, gary? >> i think it's the same old-same old. the fed is easy, easy, easy. keep talking about data dependent but i think all they will do is keep interest rates at zero percent. i don't think they will ever raise rates. any blip in the economy and bad market they may start another round of quantitative easing. gerri: oh, my goodness. gary, peter, i'm sorry to you. do you agree with that? will they never raise rates? >> i believe they intend on raising rates. the real question whether russia or some other event disrupts global economy. we're in a situation where the u.s. economy is becoming the bright star and there is no reason to believe that we can't as we have in the past grow even in the face of poor economic conditions in japan and europe. after all there is nothing new about poor