Page 17 - Wealth Effect News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Right. if you look at interest rates, on the open market, two-year rates, 30 year government paper, which by the way is about equal to the fed fund rate, the rates have come down while the fed is hiking on the notes with respect to september. that tells you the fed has it wrong. what we have to be careful of, folks, if we get this rate cut next week and that's it? because data has started to look better again or do they keep on the rate cutting path that the market expects them to be on. >> one thing about this, the stock market rise, which has been gigantic, we're now up 50% since trump was e...

People trying to get into our country, now, i don't think it's necessarily a bad idea that our country has borders, think about how we communicate it, it's very simple but it's also very negative and both of these candidates do that. neil: does sanders tweet? >> he doesn't have the aoc snap on the twitter. [laughter] neil: one of the things the president tries to remind people about, the points that you mentioned, and all of the markets, they are going more his way although he doesn't mention the markets quite as much as he used to but how does that play, markets can be very strong and still n...

City paying rent to buy a house in spokane or somewhere else. it tells you about the wealth effect and the psychology of consumers. it is important that this turns around. what we do know from the home builders is foot traffic is starting to pick up again. one of the keys. once people look, the next thing if they can, they can get a loan they'll buy. >> sandra: china becoming the number one retail market over the united states? >> well, you know, they got a few more people than we do. 1.3 billion versus 300 million. their consumers are spending. they have a bifurcated economy. in beijing, for ...

Economy or we'd be in the er. in fact, and this has kind of been i think missed in recent commentary. the american economy is still really strong. the unemployment rate is well below 4%. consumer spending was booming in this retail season. wages are beginning to climb. i think it's pretty late in the game to get the wages up but finally we're seeing that. consumer spending is 70% of of this economy. if you go to europe, it's 65%. china, it's 40%. we're a big consumer spending economy. we're very inquisitive. >> if i was someone at home, i saw this happening, i saw my 401k dwindling. that means...

You look at the last inflation numbers. they're very low. >> bill: so you look at the economic number, new home construction is off more than five points. they blame it on rising interest rates. so that kind of goes to the point he is mange. what do you think? >> also mortgage applications were down 7%. that's a huge decline. they've been down 8 of the last 10 weeks. that's an important part of our economy. you could argue it's even more important than the stock market when it comes to the wealth effect. when we have homes worth a lot of money and know that we can sell them or live in them or ...