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There is probably some work to do on the downside in the near term. this is something that s needed. a pullback is needed. we need to get back to more compelling evaluations in the index stocks generally speaking. so it s not as if this is completely destructive. it s a question of a longer period of trend. it s pruning. that s a great example. when you look at five years ago when this whole, they call it quantitative ease, basically, this free money he has been throwing into the economy to start it. every time he said maybe i m going to stop, stocks tankled. you see qe 1, that s the first bout of money, ben bernanke was going to stop t. second time around they fell 18%. so in a sense we have been through this before. this time it could be different because every other time he gave in when the markets started plunging and give people more money. this time he might say, hey, forget it. right. at this time there the a different narrative. the economic data he has used as a way of ....
When they ended qe-1 and qe-2, stocks fell because the economy wasn t in a self-sustaining recovery. every data point will get that scrutiny between now and the end of the year. i m going to ask both of you the question. stephen moore, what letter grade to you give the economy right now? you know, i would give it about a b-minus, but i m optimistic about the future. when you take into account the fact that corporate balance sheets still look beautiful, american companies are lean mean fighting machines, low interest rates, the housing recovery, i m optimistic we may see the b-minus turn into a p-plus. okay, jeff, your turn. i m right there, too. a b-minus. the economy has held up well. one thing i would point out that maybe i graded on a curve, the government sector is fading. remember, government job growth is fading. government is a drag on gdp. minus one percent was the fact, ....
This patriotism does for the debt. does it help it? will it help the economy? toby and gary b are right. i want the red white and blue on top and one way not to do it in the code words, check patriotism, redistribution of wealth, this just continues to facilitate qe 1, 2, 3, and 4 where we print and print more money and raise taxes into our way into complete insolvency. to toby s point about not being able to come back, he s exactly right. gary b? well, you look at the times that we have the greatest growth in our economy. when we were legitimately the world s super power. you know, after world war ii, during the 90s and look at the times, what was the size of government and the size of government spending. debt was small. government was small, and private enterprise was felt free to unleash its fury in the economic market why we have things like the internet, companies like google and apple. none of these things were the ....
The economy and deciding not to act because of the timing of election day. that to me one thing really quickly. he just said that the economy is getting better. who did? mitt romney just said that. some would argue rightly that qe 3 is in fact an admission that obama s policies are not working. and republicans have evidence to back it up. qe 2 has not worked. qe 1 has not worked. i ll point you to an interesting argument made in the guardian. essentially qe 2 and the fed posturing was responsible for the 2010 gains by republicans. viewed from the perspective of challengers seeking office. the fed essentially spent the entire election season telling americans that it stood ready to buy whatever treasury debt the obama administration deficits would generate. a simplistic conclusion that the fed was aiding the ....
championship. lebron james. the whole team. lebron james. doesn t everyone just think lebron james is the heat? good morning, everyone. nice to have you with us on this very, very early start. i m ashleigh banfield. i m zoraida sambolin. let s get started here. let s start with the developing news this morning out of egypt about the health of former president hosni mubarak. we re getting conflicting reports about his actual condition. a state news agency is reporting the 84-year-old is clinically dead. but his lawyer says that he is in a coma. the military says mubarak s condition is critical. but that he is, indeed, still alive. all this confusion coming at a very critical time for egypt. thousands gathering overnight in cairo s tahrir square to protest the military leaders who were supposed to oversee the transition to democracy. instead, they are grabbing more power. ivan watson is live in cairo. ivan, what is the latest on mubarak s condition? reporter: th ....