Strong jobs report, unemployment ticks up.

0:00 Speaker 1 What is today? Iss Lou Dobbs is a national figure, a political and financial commentator, an author, a television host, and one smart guy. Lou Dobbs tell us, where the heck is the economy going? Where this is Labor day weekend?

0:18 Do we have something good to look forward to?

0:21 Speaker 2 I genuinely think so, John, If I repeat if if we can rationalize a number of conflicts within the economy and certainly in the background noise of our political system right now, but we are seeing the reintroduction of some confidence and I think even optimism in the markets. Now.

0:43 How long that will last, I’m not sure, but I do know that the effect of the Fed’s interest rate policy, they’ve gotten way ahead of the markets. But the fact is the right now the economy is adjusting to it.

0:57 We’re watching, We’re watching in the most recent unemployment rate, the unemployment right rising to three point eight percent. The fact is that isn’t terrible, because this is the longest sustain period of unemployment below four percent in the country’s history, and that is good. The fact that wages are moderating, I would prove, frankly, prefer frankly that they go up

1:26 a wild because there’s a big hole to dig out for the middle class, working men and women in this family, this country’s families. It’s really going to be quite an interesting challenge. But the capital flows a moderating into some of the turbulence and chaos. We’re watching crude oil prices rise.

1:49 That is a real warning signal on inflation. But on the other hand, as economists like to say, we are looking at falling inventories, we still have the capacity, with the right political choices, to remove those higher prices, those inflationary prices by going back to a policy of energy independence, which I think most Americans right now would sooner see.

2:18 Speaker 1 And if they don’t, if we don’t bring oil within lower prices, Powell is going to continue raising interest rates, which you will destroy the country. That’s my opinion.

2:32 Speaker 2 Well, and I agree with you. It’s if they were to if they were failed to pause on interest rate hikes this month, I think that would be not disastrous, but it would be a tremendous setback for the advancement of the economy. And by that I mean slow but strong growth economically and continued continued low unemployment. These rates

3:01 are if this fed. Besides if Jerome Palell decides to get to get out in front, way up in front of these markets. He’s a He’s a bigger problem than even I had believed him to be. This is just we’re seeing very clear science. Over the last year. We have been averaging much higher levels of inflation, but we

3:23 are now seeing that moderate as well. We have lots of good sound developments within the economy. We’re seeing prices on housing that have risen tremendously moderate a bit. We’re going to see the construction industry catch up to demand again.

3:44 We have low inventories and housing as well, which is in high rates that are just basically shutting down the sector. I mean, we’re very close to that point. John, and I would like to see them just acknowledge the Fed just ignowledg what the consequences of any of any of the decisions that they’re likely to take will have.

4:07 Speaker 1 Well, we’re under attack in many parts of the world, and we’re under attack internally by our own people. My humble opinion. The other day, President Biden announced that he wants to make a proposal that anybody with the rank of supervisor, and I think there’s three and a half million of the people like that that makes less than

4:31 ninety five a year should be eligible for overtime. Any opinion on.

4:36 Speaker 2 It, well, I think that the Biden Advisory Group group should take a bow, because again, we used to call this walking around money, didn’t we? John In the old days, when the guys were handing out money on the streets trying to buy a vote.

4:55 Speaker 1 Here, we’ll walk away. They were giving away dollar bills and if you promised to vote for my candidate.

5:00 Speaker 2 Exactly, And he’s taken this to warp speed and lofty levels that of her. Imagine he’s not only becoming a benefactor to that three and a half million people group, but he is using OPM, which is genius. He’s taking money, he’s taking the employer’s money and heading it over to the employees. And he doesn’t have to worry about going

5:29 to Congress for approval or even taking the trouble as he usually does to have to put pen to paper and sign an executive order and rule by theiot. So I have to give whoever is advising the president big, big props for clever.

5:44 Speaker 1 Pop lou jobs enjoyed a labor Day weekend, And I pray for a country.

5:50 Speaker 2 And we’ll talk next week AYMN John, thanks about Amen,