Economic prosperity. now american companies make their money abroad or make it by eliminating inefficiencies and increasing productivity with fewer workers and there s also the fed. low-interest rates and low inflation have conspired to make the stock market the only liquid investment game in town and that s pushing the dow to record highs. steven moore is a senior economics writer at the wall street journal. stephen, you are a deficit hawk, you must be ecstatic by the forced spending cuts in washington a week after the sequester, the sky hasn t fallen, despite the president s warnings, the dow is flying high. we ve got job creation continuing. you think we re on the right track, despite having a president that many consider anti-business? not quite as jubilant as you are, ali. but i think it was a very positive jobs report new york city question about it. these are the kinds of job numbers that we need as you quite correctly said for the next three or four years. and that we should expect given that we re in a recovery. now, i do think that the
You must be ecstatic about the forced spending cuts in washington one week into this sequester, the sky hasn t fallen despite the president s warnings, the dow is flying high, we ve got job creation continuing. do you think we re on the right track despite having a president many consider anti-business? not quite as jubilant as you are, ali, but it was a very positive jobs report, and these are the kind of numbers we need as you said correctly for the next three or four years and that we should expect give than we re in a kroefr. i do think that the sequester has really been a nonevent with respect to the financial markets. businesses are plowing ahead. and i think a lot of the dire forecasts that cutting government spending was going to hurt the economy, look, it just started so we ve only had this for a week or two, but i was one of the people who said, look, this might be a positive thing for the economy in terms of giving business some assurance that at least washington will start cutting somewhere.