Jan 2, 2013|
Automatically Generated Transcript (may not be 100% accurate)
Tony the fiscal clip was averted and the stock market reacted. With two -- plus point game. Any surprise to that first ball. Not necessarily because -- The market is a voting machines short term it's sort of like the House of Representatives. Weird is -- extend the you know fervor days. Longer term the market and it will be more like the senate where the council board deliberative and and you really you know finding out what to -- securities are so really wasn't surprised -- He had a very brief relief -- Today. And how much longer do you think this fiscal -- -- can. Roll on for momentum as far as Wall Street Joe's. Well the interesting thing is yet to maybe five -- -- these previously. You know the market was selling off. Series first Monday you know we had a really about a 1066 points. And then today -- over 200 points markets so basically the market was. Sort of predicting that this is going to happen based on the ball -- into Monday. Today you know these picnics camping and we can't move up. You know my expensive European markets were repeated stronger than domestic market. And in -- candy ever up. You know January tends to be stronger and be your anyway in Arkansas my expectation is that we probably are going -- -- -- A little bit longer but you know we still do it sequestration. Issues to deal with in a couple of months. And we also had the debt ceiling you know perhaps and other markets could be dealt with so -- -- probably going to be relatively short life. You brought up the point of the debt ceiling debate. How much lower worker with the -- go because of this debt ceiling debate. Well it all depends. How cold. On the one hand you know the Republicans. Means a lot you know we've got -- got tax increases that would locked in permanent rate. Four of the top 1% as well -- actress. Now we're going to these budget negotiation. Concern debt ceiling. Where you get revenue from. These -- market did for the people who -- under four fatigue now. You already at the ones they're -- to -- up pretty good. President. And again. You know and deficit reduction is an accomplice to dish out. So we really don't know where it's coming from what is happening there provide some degree certain where it will say is there. The fiscal cliff in the event. Went over click here and do it higher taxes the market would of sold off. You know perhaps a thousand points because it's sort of predicting economies slow corporate here in the slow. We're back in a position right now but the problem. In. Republicans. Begin to look at these correctly. Of the -- Jeopardizing. That if something America probably would you know. Person to.