Manufacturing procedures after door mishap on board an american Alaskan Airlines flight. Temporally grounded over one or 50 planes and ordered inspections by the house transportation subcommittee hearing is about three hours. [background noises] is mick. [background noises] a subcommittee on a visual consort is unescos at the chairman authorized to declare recess without objections ordered also ask you nose consent subcommittee and ask questions that objection prints ordered. I was reminded members wishing to insert documents in the record please also email the documents i dont recognize myself for the purpose of an Opening Statement for five minutes. Thank you for being here administrator whitaker. I want to first off congratulate you for your unanimous confirmation vote. As you know achieving Something Like that in todays times is quite remarkable. Really appreciate your expertise head look forward to working with you. I hope you understand the strong support from congress but also e
Inspections by the house transportation subcommittee hearing is about three hours. [background noises] is mick. [background noises] a subcommittee on a visual consort is unescos at the chairman authorized to declare recess without objections ordered also ask you nose consent subcommittee and ask questions that objection prints ordered. I was reminded members wishing to insert documents in the record please also email the documents i dont recognize myself for the purpose of an Opening Statement for five minutes. Thank you for being here administrator whitaker. I want to first off congratulate you for your unanimous confirmation vote. As you know achieving Something Like that in todays times is quite remarkable. Really appreciate your expertise head look forward to working with you. I hope you understand the strong support from congress but also enormous recognition of the responsibility of the job youve now taken on. We have heard a lot of descriptions about americas Aviation Industry.
We have been conditioned to believe that good news is bad news because it might make the fed raise rates. Now though when the fed has finally declared its going to raise rates we regard this strong jobs number as a sign that things are good enough for the fed to tighten so bring it on. Dow roaring 370 points. Just higher all day. S p rocketing 2. 5 . Nasdaq 208 . Is it correct . Theres a lot of weakness in the u. S. Manufacturing economy but thats now less than 10 so maybe it doesnt matter that much. Its almost as if were in some sort of weird post Industrial Society where we have accepted the fact that our country has already lost enough industrial jobs that any pain in that sector from a rate hike will be minuscule in its impact in the overall economy. Thats amazing. I mean, look, if this were 20 years ago i would tell you that we would go into recessions. Its a sad statement that theres not much industrial in this company but thats the way it is. Were now operating under the assumpt
Maybe it doesnt matter that much. Its almost as if were in some sort of weird post Industrial Society where we have accepted the fact that our country has already lost enough industrial jobs that any pain in that sector from a rate hike will be minuscule in its impact in the overall economy. Thats amazing. I mean, look, if this were 20 years ago i would tell you that we would go into recessions. Its a sad statement that theres not much industrial in this company but thats the way it is. Were now operating under the assumption that everyone with a pulse knows that the fed is going to raise rates and well just have to wait to see what it says in its commentary when it happens and its going to happen in a couple of weeks. A one and probably done for awhile statement accompanied with that rate hike will probably give us plenty more days like today. Until then, lets proceed with a business attitude and go to the all right. So next monday, after the close, we get earnings from h and r block.
Have less to fear if theheed raises because the fed will probably not hurt the economy when it does what its going to do in less than two wes. With that in mind we should be back to picking stocks in the expectation that theyll go o higher if the numbers are good and lower if the numbers are bad. Who knows . Maybe we could even leave crazy town soon afterwards. It is too nutty even for me. Terry in pennsylvania, terry. Cal`er jim, a great big booyah from scranton pennsylvania. Man, thats where my grandfathers relatives went. Fabulous town. Caller come on up to our parade some day. Scranton is beautiful. Underrated. Caller it is. Its not real through. Go ahead. Caller thats right. Listen my ughter has some cash and is looking for some longterm investmemts. She is thinking about bp but im afraid theyre going to cut their dividend and the stock you mentioned a good thing. Long. Term investments and one of the things that were seeing is a revulsion to all fuels for the longterm. So terry w