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[1:38] ..." mean that it's going to happen tomorrow you know even. Agreed that Greenspan was talking about irrational exuberance. The markets at 12000 and it was 6000 when he was talking about it so the trend"...
[0:00]" per hour before the bell stock report and WBZ financial editor -- Caruso was in this morning -- the morning -- a while markets certainly took a hit I guess it's all about oil."
[0:09]" Yeah it is in the and that's what's happened the world we're -- a lot of things the first basic Tenet is that the we call correlation -- efficient. And what it means to big purpose that it sometimes if things go up other things go down. And when you're looking at right now is an inverse correlation between gold goes up I couldn't when oil goes up. It helps almost nothing else and then we're seeing that just last week and we also saw at this week's volatility get it over to where oil is right now it's a it's a -- about 133 a barrel at this point in moving very quickly -- overnight it actually got 235 dollars and this morning in The Wall Street Journal we didn't get much help with that article from the International Energy Agency report saying that there are more -- long term. So it's built on hard to believe it's -- like -- good hitting a thousand dollars announces well. But there's two forces to look at you get the fundamental -- the speculative but fundamentalist just supply and demand and what we hear from you know most of the -- but it should be based on fundamentals 6080 dollars a barrel which -- still -- but -- semi reasonable. Year to date -- up 39%. So we know for certain is demand hasn't increased by 39%. Supply hasn't fallen by 39% so what's the rest of the stuff like. Well it's all about the long term unknown and it certainly that speculation in the traders and hedge funds in those. It's almost impossible to protect what that impact is but the reality is is that having a major impact in when you look at all these commodities. They all have gravity eventually what goes up will eventually come down but it doesn't mean that it's going to happen tomorrow you know even. Agreed that Greenspan was talking about irrational exuberance. The markets at 12000 and it was 6000 when he was talking about it so the trend is your friend that's what these speculators do they make money at some point comets gonna turn around but it may not be tomorrow so it's going to feel strongly about is that you know when you're looking at stock they're going to go down -- gonna get hit new evidence is that is is in the airlines stocks so. With all this being said it's going to be really hard for the market to go up after what's happening with oil and you've got let's excuse me all the -- being groped for the second day in Washington so we'll see anything about a particular market. -- down point three that was up eleven nasdaq's up one and not gold stock around five bucks."
[2:18]" A thirty seconds here David how does that all affect inflation."
[2:21]" Well you know every recession has often inflation can -- that we certainly seeing that we put gas prices in the bill big bill works out there when you look at all of inflation. When it really comes down to about half of inflation is in wages have another quarter that is in the housing which is certainly not going up and wages have been think so it's basically the point 5% and oil and gas and food and computer -- It is certainly going to be a factor the Fed reported yesterday so we're going to keep an -- out and everybody's looking at upper right now we just don't know what to do it really is acquire more. Thank you David --"
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