WSJ’s O’Grady: We Are in a Long-Term Growing Economy and Eventually We Are Going To Hit a Recession

>> Ed Another wild ride ░░░░░░░░ Wall Street today after ░░░░░░░░ down more than 600 ░░░░░░░░ early in the day ░░░░░░░░ Dow staged a comeback ░░░░░░░░ the afternoon rallying more ░░░░░░░░ 850 points to close ░░░░░░░░ to 60 Continuing a ░░░░░░░░ of historic volatility in ░░░░░░░░ final days of 2018 ░░░░░░░░ many to wonder what ░░░░░░░░ ahead We want to ░░░░░░░░ you an idea about ░░░░░░░░ 401 k Among other ░░░░░░░░ Wall Street Journal editorial ░░░░░░░░ Dan Henninger a Fox ░░░░░░░░ contributor Good evening to ░░░░░░░░ of you Ladies first ░░░░░░░░ is going on Most ░░░░░░░░ the volatility I would ░░░░░░░░ up to program trading ░░░░░░░░ and so forth forth ░░░░░░░░ s not one individual ░░░░░░░░ groups who decide that ░░░░░░░░ are going to sell ░░░░░░░░ a movie Sal Cell ░░░░░░░░ It is triggered by ░░░░░░░░ program trading at the ░░░░░░░░ of the day stocks ░░░░░░░░ priced off of her ░░░░░░░░ There are lots of ░░░░░░░░ in the market about ░░░░░░░░ will happen next year ░░░░░░░░ are in a long ░░░░░░░░ growing economy and eventually ░░░░░░░░ are going to hit ░░░░░░░░ recession Interest rates are ░░░░░░░░ up I don t ░░░░░░░░ you can argue that ░░░░░░░░ increase in December can ░░░░░░░░ any of this The ░░░░░░░░ knows that rates are ░░░░░░░░ to be higher next ░░░░░░░░ that means that it ░░░░░░░░ the antifreeze credit which ░░░░░░░░ had during the years ░░░░░░░░ will change the equation ░░░░░░░░ terms of earnings That ░░░░░░░░ shifted sentiments People are ░░░░░░░░ nervous Ed Mary makes ░░░░░░░░ lot of good points ░░░░░░░░ decipher it for viewers ░░░░░░░░ thought I heard Kevin ░░░░░░░░ of the economic advisors ░░░░░░░░ that earnings are the ░░░░░░░░ milk This is important ░░░░░░░░ claims at least earnings ░░░░░░░░ been good and will ░░░░░░░░ to be good Is ░░░░░░░░ wrong They will be ░░░░░░░░ The estimates are they ░░░░░░░░ come back a little ░░░░░░░░ from the protections that ░░░░░░░░ were making about a ░░░░░░░░ ago which kind of ░░░░░░░░ Mary s point How ░░░░░░░░ the recovery is in ░░░░░░░░ growth is going into ░░░░░░░░ In your introduction before ░░░░░░░░ commercial break you said ░░░░░░░░ does it mean for ░░░░░░░░ in their wallets The ░░░░░░░░ is to hold onto ░░░░░░░░ that is what the ░░░░░░░░ money is doing on ░░░░░░░░ Street They are sitting ░░░░░░░░ a lot of they ░░░░░░░░ to see the bottom ░░░░░░░░ this market They don ░░░░░░░░ know where it is ░░░░░░░░ to be Marcus Lambrecht ░░░░░░░░ and now the word ░░░░░░░░ on collectibility Anywhere you ░░░░░░░░ periods Jerome Powell the ░░░░░░░░ has talked about rumors ░░░░░░░░ he wants to fire ░░░░░░░░ him He had to ░░░░░░░░ forth and say no ░░░░░░░░ president will not fire ░░░░░░░░ chairman of the Federal ░░░░░░░░ That introduces a lot ░░░░░░░░ unprotect ability Ed There ░░░░░░░░ political volatility James Mattis ░░░░░░░░ stepping down When art ░░░░░░░░ here algorithms and earnings ░░░░░░░░ dance point what does ░░░░░░░░ mean for their wallet ░░░░░░░░ the scenes I mean ░░░░░░░░ do have policy implications ░░░░░░░░ the trade for If ░░░░░░░░ gets worse You also ░░░░░░░░ they shut down it ░░░░░░░░ cost the economy I ░░░░░░░░ the main problem here ░░░░░░░░ that we don t ░░░░░░░░ how much free money ░░░░░░░░ so many years how ░░░░░░░░ did that inflate financial ░░░░░░░░ to levels that they ░░░░░░░░ t be at It ░░░░░░░░ an artificial world you ░░░░░░░░ when you have negative ░░░░░░░░ first to make interest ░░░░░░░░ and he of quantitative ░░░░░░░░ all of this extra ░░░░░░░░ walking around When we ░░░░░░░░ back to reality what ░░░░░░░░ those financial assets worth ░░░░░░░░ a world where you ░░░░░░░░ to pay for credit ░░░░░░░░ don t know that ░░░░░░░░ The last point We ░░░░░░░░ talking about the stock ░░░░░░░░ The real economy is ░░░░░░░░ and it is There ░░░░░░░░ people getting jobs Wages ░░░░░░░░ rising In terms of ░░░░░░░░ pocketbooks we are on ░░░░░░░░ solid ground right now ░░░░░░░░ An optimistic note to ░░░░░░░░ We appreciate you coming ░░░░░░░░