Page 70 - Garyb News Today

What? the biggest ive ever seen, people if theyre going to hire are going to hire with temps because they dont know what the costs are going to be in six months and thats the thing that has me worried. >> brenda: gary b, what does history show us about back to back recessions? >> well, i looked at all the recessions for the la 60 years, because, thats the kind of exciting guy i am. [laughter] >> and i know. >> and especially, especially, fascinating stuff going on, in the house olds. and weve ne...

Taxes all of which are not sustainable. this is the lesson if you build a strong foundation, your city will continue. if you build unsustainable it goes down the tubes. >> jonas, there are victims here, what about the creditors and borrowers? >> all the lenders get hosted, yeah, the taxpayers made out there, but then, also, hurts everybody else lending to other states and counties and such because thisll-- other towns are solvent to to borrow at a higher rate because the loser town-- >> you didn...

Out loud. >> so youre saying that that could be a benefit, huh, well want to take greek vacations, cheaper euro, but what if the drachma comes into play? what will that do to the dollar, strengthen the dollar and weigh on the stock market and thats occurred-- >> and so little currency thats going to say 100 drachmas on it and sell for 50 drachmas, thats going to be-- >> toby, okay, take mcdonalds, you brought it up everything. 40% of theirs comes from-- >> euro implodes, the 401(k)s are down and...

Now. people have options, they adapt and thats-- >> gary, remember that the small business association has done this in a recent survey like a week, week and a half ago small businesses are supporting my point at the tipping point of raising prices because they cant absorb any more of the costs. remember, its not just gasoline, its the-- >> theyre also talking about not-- about changing their hiring practices, too, that the gas is hitting them so hard they may not be hiring and if that happens, ...

Predicting 25% increases just this year alone. gas is up 6%, it continues to rise, and its not going to stop soon. all of us need to be prepared and the economy, the global economy is at stake right now. because of the higher prices. >> gary b. youre seeing the same sticker shock, does it worry you as much? >> no, and no. to be dtsdz. >> what do you really think? >> well, look, look, if everything that we, you know, every dollar that he we made was spent on either food or gasoline, id be in todd...

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Unemployment is still stubbornly above 8%, doesnt that prove we do need some help. >> look at the trend and you know, gary b talks about the facts, what facts? >> i think this really is his opinion. if you look at since the stimulus in 2009, weve gained something like 4 million jobs, so, you keep saying the facts dont, you know, support the stimulus, but in fact, its the exact opposite and when it comes to the deficit, excuse me sh me, while i yawn here. can you find something else to get worrie...

>> but, jonas labor costs talking specifically about, they still remain low. >> thats the major cost-- and tobin said, the until the labors costs are of rising, lower rate than inflation, not as much as energy and not as much as food and more inflation than labor cost inflation and ultimately driving labor costs in addition, they just did overtime and not like they added all of these people with 5% unemployment rate and let them go because the economy. there is he a lot of people working overtim...

Is $5 a gallon national average, a good chance whats happening with the middle east right now we could see, you know, not only the recovery end, but what were going to see is people driving to and from work. i drive a car and this is going to hurt me. every good i buy is transported from the manufacturer to the retailer. and passed on to me. when i go to the store, ill buy something, higher than a few months ago and the bigger thing, confidence, if i walk by a big screen, and see gas at $5 then ...

Talking about, its just not-- and people now, the benefits of it as far as jobs, once you have a situation where you have different tax rates, you have game playing going on and this income, this rate, this, that company change the way they do the balance sheets and were going to pay dividends, not going to do this or this or this and all of this behavior goes away, once you have the income. and there are benefits to t and its a fantasy land to sauk talk about everybody paying of the tax rate. i...