Jun 30, 2014|
Automatically Generated Transcript (may not be 100% accurate)
Chills -- CBS news senior business analyst is with us this morning as usual Monday morning and she's hosted two -- money to Saturday's four until six and WB. Channel. And stuff that -- She got into. -- -- And that really is an evening news last night you know my topic was what. Went on earth are Americans going to get rates. That's really the big question right now and we'd like to -- exactly. And you know this -- really the next me is the economic recovery because now we're starting to create jobs about you know 202101000. A month this year that's really played. But when you think about it no one's gotten a big race in a while. Average earnings of about two point 1% from a year ago but when you factor in inflation wages are down. By 10% so we make more Mexicans they'll spend more money in the economy. We and other radio station here recently -- about mine of one million dollar contract and -- 61 years from an AMOCO. -- I mean this is a tough thing because I say to people all the time -- like. Well you know -- they you know is it just is dated people get -- there for a one plays rise in value because the big question is the company seemed to be putting more money back -- shareholders' pockets then in your employees' pockets. And I would say this look personal it's a retirement accounts of people that will not spend money in your retirement account discreetly. And don't forget only about half the country has any investment at all on the spot market so. The fact that it's more than doubled over the last five years doesn't really help every. With the revised GDP from the first quarter I was lousy you know we saw that the economy actually shrank by two point 9% on an annualized basis but the only good news is that that is a lot weather related and we have seen indeed pick up over the last few months and I think we're sort of the on that it's going to mean net for the full year growth is gonna look. Not so hot but I think that we talked to a lot of economists they -- really excited they say look we think by the end of this year were kind of growing at about 3% annualized rate. That's average for what we've seen in the post World War II here. Except for the past week the stock market has been on fire. Is this trouble in Iraq the contributing factor you think. So I mean look -- oil prices have been up we see gas prices up by about twenty cents from a year ago. And we are seeing actually prices for the fourth of July weekend are gonna be the highest they've been in a long time probably about five or six years. I think the most important thing to them and magic when you're looking forward at the second half of the year you look at your part fully he says hey what could go wrong. I think you've got a seat in Middle East is a huge threat. Because obviously if -- the big shot there if there's any disruption to oil production that would cause prices to go up more dramatically here at home. And if that happens just think it really is attacks on everyone's so. We don't wanna see that happen hopefully it won't because the economy could be moving it to a nice higher gear for the second half of the year that we can get -- the June unemployment rate a little earlier this this week yet very exciting Thursday at 830 a day early because of Independence Day and and I get I think that this is going to be pretty decent report we're expecting about 2101000. New jobs. Hopefully the unemployment rate stays at six point 3%. If you were to go up. Know what should freak out I think -- -- big reason it might go up is that more people will be re entering the labor force that would be a good reason for the rate to go up. That said we're not expecting to occur until last week when we shattered. About Ralph Wilson's two Monet paintings that brought to all that big money assault -- Susan and I were wondering about all things. You know valuable work she'll bark like Ralph Wilson did those owning -- bring with -- any special advantages decides prestige. Well first of all art has actually gone up -- enormously. In the last five years powered a lot -- big Asian buyers. It used to be that you know rich Americans started buying it during the hedge fund heyday. But then at the Asian market went completely insane so if you look at -- work as an investment it's been a darn good investment of course most people can't do it. And it is completely illiquid so you know frankly it's a great investment if you really don't have to sell if you have to sell it it may not be the best investment for. We'll have a good short work week. Thank you YouTube are right that's just lessons here posted -- on money CBS news senior business analyst.