David well the president tweet ing this response to the rate cut. Jay powell and the Federal Reserve fail again, no guts, no sense, no vision, a terrible communicator. That is an Economic Confidence index of the countrys top ceos sinks to its lowest level under President Trump due in part to u. S. Trade policy, and jpmorgan s jamie dimon says he does not think cutting rates will offset trade worries though he also reiterated he does not see a recession near, but should investors be concerned about a slowdown . Not to be cynical here, david, but i think that the Business Roundtable might have an alterior motive because they were very concerned about the Third Quarter but then six months out, they have all of this optimism so they have a slowing in sales in the Third Quarter but six months out they think they were going to have an increase the same thing with capex. I think what they are doing is trying to send a message they need more certainty in trade. I think that we continue with Slower Growth but i wouldnt get concerned quite yet. Carol those are all things they wont get and i guess business leaders, youve got to deal with. I know that being a executive in my firm. You have to deal with uncertainty. Everything is not laid out perfectly so to me the fed message today was pretty good. Ive got to give jay powell some credit, i think, david for learning onthejob. David its kind of a while but i agree. Which is fine because you look at the Market Reaction originally they sold into them pretty good but as the commentary came out, the economy slows down thats what the market wanted to hear an why we finished positive. You give jay powell credit . Credit for what . Gary he was coming from a negative position so anything was probably david doesnt take much to make it positive. Ill say it for the hundredth time theres 250 trillion of government global debt enabled by these Central Banks that nobody is doing anything about, one day theres going to be repercussions but here is how we will know. When the markets tank, when we go into a real bearish market thatll be the telltale that we are going into a recession and since thats not happened yet i dont think so but theres a definite slow down going on, its something that has to be watched very very closely not just because of here but around the globe china is not growing at 6 . I think they may not even be growing right now. Germany and points in europe are in recession right now themselves, and we are not immune, so we are definitely on watch and hopefully, we can re accelerate from here. We arent immune and the at t ceo just reiterated that on tuesday and he talks about u. S. Mca, weve been talking about china, but we have two big major, or mexico being a huge trading partner still getting blocked in congress not even going through congress, but regarding powell, you saw an uptick in the market the moment he used and were talking about those off camera, the Balance Sheet bringing up the fed Balance Sheet and that they are possibly considering organic growth, what a term to use, but at least its better than autopilot, remember when you saw the markets drop substantially and a keyword too that powell got up is we will learn a lot in the next six weeks to go through the followup rest of the quarter which i think hes alluding to Consumer Spending and backtoschool. David let me pick up because you said were not immune and i agree. Were not an island in the world economy. We have to Pay Attention to whats happening overseas and whats happening are negative Interest Rates. Thats why i think the president has a point when he says look, were not up to speed. Weve got to come, bring our Interest Rates down not to negative. He did say that at one point and i disagree with them there but part of the feds job is to make sure that our currency is that pairity. That is part of it. Go ahead, gary. Let me take the other side of that. Those Interest Rates are negative because they are basket cases there. Our Interest Rates are not supposed to match their Interest Rates. They are supposedly something called a free market. Let markets be themselves, the ten years david maybe we should get rid of the fed itself. Period. Thats a great idea. Here is the problem though, and the other issue we create this vicious cycle so every time we lower Interest Rates it gives them the ability to say well they lowered it so we have to lower again, if we were to stay in front for a little while maybe they would stop doing that david the only thing thats going to stop them from doing that is if they wake up one morning and say wait a minute the United States cut their tax rates, they got rid of a lot of bad regulations and their economy went booming. Maybe we should do the same and until that happens i dont think they turn things around. David thats the problem too though is because we arent doing that or havent done that say in some time a year or plus and were starting to see regulations, were seeing democrats pipe up about that stuff and talked about u. S. Mca, now the reliance is back on the fed to kind of fix this problem. China trade too, so to me, youre right. The fed is becoming maybe a little bit more insignificant because open marketrates dont forget guys, the fed did an okay job today, i almost said fine but i didnt want to upset gary any more. He did an okay job today but the fed was way behind for most of this year. For a long time this year, the long term rates in say the 10 year, the 30 year bond for the government paper were higher than say or lower rather than say the fed funds rate which was higher which was ridiculous. But not only did the Committee Members agree with you scott in that sense when you look at Consumer Spending, you look at the fact that it has been climbing higher and then inflation is a great one, its a little bit below 2 , but i wanted to bring up news were getting just within the last hour so the fact that microsoft too announcing they are increasing their dividend, buying back 40 billion worth of shares, which shows that corporations in america are flush with cash, apple being an excellent example. They are getting money from that Corporate Tax rate dropping to 41 . David theyre not getting money. Bringing it back from abroad , but i think it would be interesting, guys maybe anybody can answer this, do you think in the midterm given that dividend yield might actually be a better return for investors than Interest Rates, bonds and Interest Rate, so should we just keep parking our money in the marketplace and continue. Ill tell you what they arent going to do, is increase their Capital Spending which is what the fed lowering the Interest Rates is supposed to do its supposed to spur business and Consumer Spending and none of the businesses and consumers are holding back their spending because Interest Rates arent low. Let me just say this, the fed is just so overrated when it comes to the economy. What theyve been able to do is more markets. Do you know what moves the economy . 150 Million People going to work every day, not these moving Interest Rates a quarter point here or there. Ive been saying this forever. If they would just leave be we would just be fine but no they have to interject themselves into everything every day. That means no cuts right . Just say we dont need them. Auto sales are strong, retail sales a little bit weaker , but stronger in august so that means no cuts then right david i think no fed. We can all agree no fed. Absolutely. I second that. David i say no fed. President trump set to announce new economic sanctions on iran in the next 48 hours but do we need a tougher response to iran s aggression. Well ask republican congressman mark green, next. President trump theres plenty of time to do some things, its very easy to start, and we have to do something well do it without hesitation. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. 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For the rest of the world this is an attack on our economic stability and i believe im very supportive of the president ramp ing up, matching out the sanctions on iran, and i think the rest of the world needs to join us in that effort, but i also believe that not responding would be a bad idea. It would embolden iran. Very clearly they continue to ratchet this up in an attempt to leverage the world against us and our sanctions, so not responding would be a bad idea. David but just to followup specifically, does that mean that we should be doing something more than just economic sanctions . I think the president s going to make the right decision and i trust the decision that he makes in terms of whether or not to get kinetic in this. David kind of an odd answer. Kind of a nonanswer hopefully youve got insider scoop about next week you have the United NationsGeneral Assembly occurring and the minister of finance as well, foreign minister im sorry and the president have not received their visas to enter the United States, are you hearing anything about that and what kind of situation could this like prevail if you have the president of iran stepping on u. S. Soil after this . Theres no talk about that in the halls of congress right now. No one is mentioning that. Clearly, its very concerning for us to have them come here, but the United States has allowed the United Nations to be here on our soil, so we have to participate in those agreements and allow those individuals like the president of iran to come here when they need to or want to. Congressman this is gary kaltbaum. Iran knows that we know that they did what they did which means that theyre something else. I know we talked that we will do something if they do but are we actually ready to amp this thing up which means attack something over there, which will escalate things over there. Are we ready for that . We absolutely have the capability on the ground. I went to the chairman of the joint chief of staff, general du nford and asked him several weeks ago, are we prepared if the iranians escalate this and he said absolutely. We have the assets on the ground we have the capability to respond in the region. We have, we can do a lot and youve heard the president s rhetoric about that, were ready congressman so building on that, what is that so to speak red line . What needs to happen in order for us to join in because right now its not our place. This is between saudi arabia and iran, so what is it thats going to take to pull us in because unfortunately, i feel like thats irans end game here. Theyve made it very clear, theyve said we can hurt americans in the region. They said that. I think when theres one american soldier, injured this president has made it clear he will not tolerate that, and if they hurt one american, you can bet there will be a kinetic response from this president. Congressman its scott martin. Lets say on saudi arabia what can we expect from them Going Forward as far as help if things do escalate as gary point out as they probably will with iran and also what can we expect from saudi arabia Going Forward, its a very rich country yet they cant protect such a very important element of their economy . It seems kind of interesting they arent the greatest actor in the middle east so what can we expect with them Going Forward as to how to prevent this stuff and get things better what youre really getting into is the entire middle east and whats happening and whats happening is an emergence of a bipolar situation where there is this iranian access and this saudi jordan, israel interesting ly enough, israel as a part of that access thats forming, and whats very concerning is typically you look back in history, whenever either a region or globally the world went bipolar, i believe i genuinely feel that thats when it became most unstable, now there are political theorists out there who say that gives stability but i dont think so, so im very concerned about this sort of alignment, thats happening in the middle east and now other countries are stepping up to either side with saudi arabia, or side with iran. Very concerning, and i think you now see cooperation even between israel and the kingdom sharing intelligence information and this is an unprecedented point in history, and so we need to be very careful. I believe the president s measured responses have been very good and very solid. David another quick question about saudi arabia though they didnt apparently have these Patriot Missile defenses around the oil field that was hit, and with all their, hundreds of billions of dollars, they cant buy missile defenses from us and surround these areas . Is that being discussed with saudi arabia . I am confident that those conversations are happening and the go forward, and i anticipate they will be better prepared next time. David congressman mark green always a measure to see you sir thank you for being here appreciate it. Thanks for having me. 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