BIG MONEY SHOW," LISTEN TO OUR PICS.
PICS.
GOOD ONE.
TAYLOR: WALMART UNDER PRESSURE,
INFORMATION WILL IMPACT ITS
BUSINESS THIS YEAR.
THE RETAIL GIANT PLANS TO
SLOWEST PACE OF HIRING, GROWING
AUTOMATION TECHNOLOGY AMID THE
TIGHT LABOR MARKET.
MAKING MONEY HOST CHARLES
PAYNE.
INFLATION IS A PROBLEM.
SUPPLY CHAINS ARE CLEAR BUT THE
AUTOMATION, THE EFFICIENCY WE
KEEP HEARING ABOUT.
CHARLES: THIS WHOLE BATTLE
BETWEEN EMPLOYERS AND
EMPLOYEES, EMPLOYERS LEARNED A
VALUABLE LESSON AND WILL MAKE
THE INVESTMENTS SO THEY ARE
NEVER OVER A BARREL AGAIN.
YOU HAVE MIXED FEELINGS ABOUT
IT, THERE’ S A GREATER IMPETUS
OR SENSE OF URGENCY TO DO IT.
LET ME SAY ONE THING.
I CAME IN WITH SOME 8 TRACKS. I’M WORKING WITH THE TECHNOLOGY
I’M WORKING WITH THE TECHNOLOGY
TEAM HOW TO GET THE 8 TRACKs.
JACKIE: IF YOU LIKE CHARLES’S
MUSIC PUT IT ON MY SPOTIFY.
JACKIE: EXPERTS AT FANNIE MAE
ARE SAYING BANKING FAILURES AND
SIGNATURE BANK COULD TRIGGER A
RECESSION THE SECOND HALF OF
THIS YEAR.
JAMIE DIMON FALLS IN THIS CAMP
AND FAILURES OF CREDIT SUISSE
SIGNIFICANTLY CHANGED MARKET
EXPECTATIONS, PRICES RECOVERED
DRAMATICALLY, STOCK MARKET IS
DOWN, MARKET ODDS OF RECESSION
HAVE INCREASED AND WHILE IT IS
NOTHING LIKE 2,008 IT IS NOT
CLEAR WHEN THE CURRENT CRISIS
WILL END.
I COULDN’T AGREE MORE AND I’M
SURPRISED THE MARKET IS JUST
WAKING UP TO THIS.
CHARLES: IT WAS A CLARION CALL.
DON’T THINK IT CHANGED THE
ODDS, JUST MADE PEOPLE AWARE OF
THE ODDS.
THIS IS SOMETHING WE SHOULD
HAVE KNOWN A LONG TIME AGO.
IN THAT REGARD IT IS
INTERESTING THAT ALL OF A
SUDDEN, I THINK HE HAD A PART IN HIS LETTER THAT WAS HIDING
IN HIS LETTER THAT WAS HIDING IN PLAIN SIGHT, IT IS ALL -- I
IN PLAIN SIGHT, IT IS ALL -- I
DON’T GET THE FEDERAL RESERVE,
AND ON THE ONE HAND, SUSAN
COLLINS, ON THE ONE HAND THEY
ADMIT THINGS ARE WORKING, STILL
BELIEVE THEY CAN GET A SOFT
LANDING BUT TALKING ANOTHER
RATE HIKE.
THE ECONOMIC DATA, YOU WANT TO
TALK A RED FLAG, YOU HAVEN’T
BEEN PAYING ATTENTION, PLEASE
PAY ATTENTION.
YOU CAN TAKE YOUR PUT THEM -
YOUR FOOT OFF THE LITTLE.
THIS IS GOING TO BE
CATASTROPHIC IF THEY GO TOO
FAR.
BRIAN: WHEN YOU PUT POWER IN
THE HANDS OF A FEW PEOPLE, THEY
THINK LEGACY.
POLITICIANS THINK LEGACY.
THAT IS WHAT WE ARE GETTING,
THE FED WANTS TO LOOK TOUGH
BECAUSE THAT’S THE LOOK THEY
WANT TO HAVE IN THE HISTORY
BOOKS.
JACKIE: IF THEY WANTED TO LOOK
TOUGH THEY WOULD HAVE SAID
SOMETHING SOONER.
CHARLES: POWELL MISINTERPRETED
EVERYTHING.
EVEN FOR A LONG TIME, REMEMBER
THE PRESS CONFERENCE WHEN HE
SAID HE WOULD RETIRE THE WORD
TRANSITORY?
HE DIDN’T DO THAT BECAUSE HE
THOUGHT HE WAS WRONG BUT WAS
SORRY TO TAKE FLAK FOR IT.
THEY GET WEDDED TO THESE
POSITIONS AND STAY WEDDED TO
THEM AND THAT’S A PROBLEM WITH
POLITICIANS, UNELECTED
BUREAUCRATS, NOT AS ENOUGH
CHECKS AND BALANCES WITH THE
FEDERAL RESERVE.
JACKIE: CAN HE CANCEL THE WORD
TRANSITORY?
CHARLES: HE STOPPED SAYING IT.
WHEN HE ACKNOWLEDGED I MADE A
MISTAKE ON TRANSITORY YOU COULD
TELL HE DIDN’T, HE REALLY
BELIEVES HE CAN ENGINEER A SOFT
LANDING.
IF HE DOESN’T YOU WOULD THINK
THEY WOULD TAKE THEIR FOOT OFF
THE PEDAL.
LET’S SEE WHAT IS HAPPENING,
THE NUMBERS THAT HAVE COME IN
THIS WEEK ARE TOO FAST, THE TOO
FAST DECLINES, MANUFACTURING IS
DEEP INTO RECESSION, SERVICE
THIS MORNING, MASSIVELY UGLY
NUMBER.
STAND BACK AND GIVE YOURSELF A
ROUND OF APPLAUSE, YOU WRECKED
THE ECONOMY.
BRIAN: IT IS DATA-DRIVEN, IT IS
REPUTATION DRIVEN, IT IS NEVER
JUST THE DATA.
CHARLES: A COMBINATION OF BOTH.
THE ENCOUNTER POWELL HAD WITH
SHELBY LAST YEAR, THE TELL ALL,
WHEN SHELBY DRESSED THEM DOWN
AND SAID I REMEMBER PAUL