the fed has kept interest rates at rock bottom levels for so long that it has helped the economy. we have seen nothing in the way of fiscal policy, nothing in the way of tax reform, regulatory reform. these are the things that are holding back business. the truth is, is when a company out there sees that they are seeing their costs go higher as a result of obamacare, their costs go higher as a result of higher taxes and their fees and expenses go higher as a result of the bureaucracy that is dodd-frank, not to mention the epa, what would you do if you were running a business? you re going to sit on cash. martha: exactly right. you re not saying, oh, i think i ll hire a million more people and take on all these went benefits. you re saying, no, i m going to sit on cash and see what s next. martha: you re exactly right, maria, of course. and how few employees can i get away with, essentially, because you want to be as lean and mean as you possibly can given the regulatory environment
crisis, a major milestone, and a good one for the markets. well, the reason for the record, the fed announced it would not stop the flow of easy money. and it is that easy money that has been keeping interest rates at rock bottom levels for the past five years. so what does it mean? brent wilsey of wilsey asset management is out in front. first of all, do you believe in this rally? would you actually buy into it? erin, i ve got to say i m happy about the rally but we got to be cautious here. and when i look at things right now, we have to realize we re at lofty levels. and today just gave us another push above that. if you ask do i believe the rally, i m about 30% or so in cash. not because i m trying to time the market but because i started selling companies because they hit the target sell prices and i can t find anything to buy replace those companies. and erin, you ve known me for a long time. i m usually optimistic. i m not so optimistic this time. i m really cautious here. yo
after the financial crash and crisis when this country is still facing an unemployment crisis, a major milestone and a good one for the markets. well, the reason for the record, the fed announced it would not stop the flow of easy money, and it is that easy money that s been keeping interest rates at rock bottom levels for the past five years. so what does it mean? brent wilsey is outfront. brent, it s great to talk to you again. i know you know this better than anyone. first of all, do you believe in this rally? would you actually buy into it? erin, i ve got to say i m happy about the rally, but we ve got to be cautious here. when i look at things right now, we have to realize we re at lofty levels, and today just gave us another push above that. if you ask if i believe in the rally, i m about 30% or so in cash, not because i m trying to time the market, but because i started selling companies because they hit their target sale prices and i can t find anything to buy to replace thos
to strengthen, we oftentimes will see gas and oil prices move up as well. so although the economic numbers are still extraordinarily weak, they are up from those rock bottom levels and a lot of analysts saying that s helping put a little bit of a bid in oil prices as well. but you re right, we re not used to seeing oil prices spike this high, this fast. rick what, could be an even more worrisome sign is that although these prices seem so high to us, they ve just kept pace with inflation over time. these price now, 3, $4, we consider to be high, this might be the new norm when it comes to gasoline in america. rick: that s crazy. the average person can t go and spend 60, 70 bucks to fill up their gas tank once a week or whenever they have to. something s got to give. well, we just might see the usage give. oftentimes when we see gas prices go up, consumers respond in not only in buying more fuel efficient cars, but also in driving less. that could be one of the net
empty? probably half empty. the economy did grow nicely in the fourth quarter, but the numbers fell below expectatione. everyone was hoping for the wow factor. we didn t see that. consumers spent in the fourth quarter, but numbers defied expeck tactation expectations. which is why rates are going to stay at rock bottom levels, at least until late 2014, which of course is is very good news for borrowers, consumers but not saver er es. how about citibank saying frequent flier miles are taxable and what are the implications. citibank s been sending out notices whom it rewarding miles as a thank you for opening up an account and now, they re saying these are taxable. so, if you get a notice from city bank, you re going to have