DAVID: THE NUMBER OF 401(K)S
WITH PLANS OVER A MILLION BUCKS
REACHING RECORD 187, 400.
UP 41% FROM A YEAR AGO, AVERAGE
401(K) ACCOUNT BALANCE ALSO
REACHED RECORD HIGH THAT IS VERY
IMPORTANT.
PROOF THAT TAX CUTS ARE BOOSTING
STOCKS.
NOT JUST ARE IN MILLIONAIRES BUT
MIDDLE CLASS AS WELL, LARRY
KUDLOW ALWAYS TALKS ABOUT
REMARK.
I
THING ABOUT THIS ECONOMY BOOM IT
IS A BLUE COLLAR ECONOMIC BOOM.
>> GREAT, WE WANT SO MANY TEAM
IN THIS COUNTRY, REGARDLESS
PARTY.
REALITY EVERY ONE REGARDLESS
PARTY SHOULD WANT TO SEE
ECONOMIC SUCCESS, LARRY IS
RIGHT, IT SCHMIDT EL CLASS
BENEFITING FROM THIS, I KNOW A
LOT OF PEOPLE WILL TRY TO TELL
YOU ONLY WEALTHY AND ONLY
CORPORATION, BUT, WAGES ARE
GOING UP.
YOU KNOW ROBERT WOLF, SOMETHING
TO BE HEARTENED BY WE'RE DOING
BETTER.
>> WELL, WE HAVE THE TWO LEADS
OF TRICKLE DOWN ECONOMICS, I'LL
GET MY 10 SECONDS IN BEFORE THEY
POUND THE TABLE.
I WAS ON WOOT FOR
I WAS ON WALT FOR
I WAS ON WALL FOR
I WAS ON WALL SOR
I WAS ON WALL STREET FOR 30 PLUS
YEARS, TRICKLE DOWN ECONOMICS
FROM 80S IS NOT SAME, I HAVE
DEBATED ART AND STEVE ON THIS
FOR YEARS.
I AM NOT AS MUCH A BELIEVER,
THERE IS NO QUESTION THAT TAX
CUT IS WORKING, I AM MORE
NERVOUS TO FISCAL DEFICITS, I
PASS BUCK TO THOSE WHO DEVIE THE
PLAN -- DEVISE THE PLAN.
>> ART, YOU WANT GROWTH FIRST,
RIGHT, GROW BEFORE YOU BUDGET.
>> YOU CAN'T CUT SPENDING WHEN
PEOPLE RELY ON IT WHEN THEY ARE
DESPERATE, WHETHER THEY ARE
UNEMPLOYED, YOU NEED TO WAIT TO
GET GROWTH, THEN YOU CUTBACK THE
ENTITLEMENT PROGRAMS, I FULLY
EXPECT TRUMP TO DO THAT IN
SECOND TERM, AND IT WILL BE A
GREAT PROCESS, BUT RIGHT NOW WE
NEED THE ECONOMIC GROWTH, TRISH
NOT JUST THAT WAGES ARE UP, BUT
ALSO NUMBER OF PEOPLE EMPLOYEES,
PEOPLE FROM 0 WAGE TO A POSITIVE
WAGE IS A BIG PLUS.
DAVID: 401(K)S ARE A BIG PART OF
MIDDLE CLASS AMERICANS OVER
MIDDLE CLASS AMERICANS NVER
MIDDLE CLASS AMERICANS NERR
MIDDLE CLASS AMERICANS NERVOUS,
IF THEIR 401(K)S ARE DEVASTATED,
EYE LOT KISS RETIREMENT
GOOD-BYE.
>> AND LOOK AT ART, IN ADDITION
TO WAGE -- THE NUMBER OF
WORKERS, LOOK AT HOURS WORKED.
BECAUSE IT IS A TIGHT LABOR
MARKET, ART AND I AND LARRY
KUDLOW WORKING FOR THEN
CANDIDATE TRUMP, WE SAID, YOU
TOP CREATE A TIGHTER LABOR MARK
WET MORE CAPITAL INVESTMENT TO
GET WAGES UP, NUMBER OF HOURS
WORKED, YOU TAKE INTO ECOUNT
THOSE THING ROBERT I AM LOOKING
4 OR 5% INCREASE IN TAKE HOME
PAY AND TAX CUT.
WHEN YOU HAVE CONSUMER
CONFIDENCE, DAVID, HIT ITS 18
YEAR HIGH LAST WEEK, THAT
INDICATION THAT PEOPLE HAVE
MONEY IN POCKETS AND FEELING
GOOD.
>> SINCE WE WORK TOGETHER, I
WON'T TOTAL HIT YOU, BUT USING
CONSUMER CONFIDENCE FROM 18
YEARS AGO, WE KNOW WHAT HAPPENED
FOLLOWING 6 MONTHS.
>> OKAY, YOU
>> OKAY -YOU
>> OKAY --OU
>> OKAY -- WOO HAD.COM BUBBLE
AND WORST MARKET.
I WAS SAYING WE SHOULD NOT USE
IT.
>> YOU SAY WE SHOULD HAVE LOW
CONFIDENCE, AND --
>> I WOULD NOT.
>> COME ON.
>> NO ONE SAYS THAT.
MAKING THAT ALL OF A SUDDEN THEN
THING WE LOOK AT, I WILL SAY, I
THINK TRISH, YOU WERE TALKING
ABOUT GDP LAST WEEK.
WE'VE SEEN GOOD GDP BASED ON
BENEFIT
BNEFIT
BASFIT
BASILT
BASILSMIKLED
BASELSMIKLED
BASE -MIKLED
BASE --IKLED
BASE --BALED
BASE --BASED ON GOVERNMENT SPED
BASE --BASED ON GOVERNMENT SPEN
BASE --BASED ON GOVERNMENT SPE.
>> I GET NERVOUS, I WORRY.
SOMETIMES YEARS BEFORE I SHOULD
BE.
I WAS WORRIED BEFORE 2000, I WAS
WORRIED IN 2004.
MY POINT IS THERE WERE SIGNS AT
THAT PERIOD IN TIME, WHAT ARE
SIGNS THAT YOU SO WORRIED ABOUT,
ASIDE FROM THE SIZE OF THE
DEFICIT.
BUT WHAT DO YOU THINK ARE DEBILL
DEBILITATING.
>> WE ONLY HAVE A HALF HOUR.
>> I DON'T WANT TO SEE IT
HAPPEN, I DON'T THINK IT WILL
HAPPEN.
LET ME PREFACE WE WANT A STRONG
ECONOMY AND STRONG MARKET.
I THINK LAST NUMBERS I SAW
BUSINESS INVENTORY WAS SLOW,
EXPERTS SLOW.
-- EXPORTS SLOW, GDP WAS ON TAX
CUT, CONSUMER CONFIDENCE AND
MARKETS OKAY
MARKETS AKAY
MARKETS AROY