that they have, correct? see a positive things on the charts. you probably recovered most if not all money you lost in the great recession if you re in the stock market. all right. good news. you see? you see? stuart, coming up on your show at 9:20, one thing you got some hurdles, you got some cancellations. bad weather. but we re going to talk about 1 1/2 trillion dollars worth of debt. do we have a debt crisis? right. some say no, some say yes. you ll answer it. with or without cancellations you will have a better time than where steve is right now. because he had to go outside. steve? it s not bad. stuart, i don t understand why your people aren t showing up. 15 inches of snow, big deal. because they re doing a better job with the sidewalks than they are with the roads. our guys are working hard today. around the clock. there s a big mountain over here. as is the case throughout the northeast. in the meantime, straight ahead, the national anthem now off-lim
amoral. thank you very much. you do say one thing. that the news yesterday that came out that our deficit is going to be up significantly than everyone thought at $1.5 trillion, that could sober up the market. that could sober things up. that s such a huge number. it was unexpected. $1.48 trillion. that s the deficit this year. that was a huge shock. at that point, when that news was announced, the stock market did pull back from 12,000. the danger is that you got a debt crisis. the people stop lending money to the federal government. interest rates rise. the economy falls and corporate profits come down. let me ask you this, how can corporate profits be at record highs with all those other things we just mentioned? the top 500 companies in the united states of america, half the fortune 500 companies, they make half of their profits overseas. not in the united states. they make those profits overseas. but a lot of people see that in the mutual funds they might have inve
unemployment, the housing crisis, divided politicians? they don t care about any of that. what do you mean? they care about profits. how much money is this company gonna make if he s going to make a lot of money in the future, i ll buy into that stock. that s all they care about. but people but the people buying into the stocks are people like you and me who are facing some of these financial struggles. so how do you explain that? ok, the people who are unemployed are not investing in the stock market. the people who have lost their shirts in the housing market are not investing in the stock market but everybody else has the money the investable money, it s going to go to the place where they think there is the best profit available and the best profit available is the stock market because corporate profits are at or near record highs right now. that s all they care about. really? the stock market has no morality. they don t care about politics. they don t care about un