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They're closed for Good Friday -- the Dow and S&P both closed at a record highs this week the S&P represented broader range of stocks that most Americans having their forum in case.
But despite what we're seeing in the market some are calling -- -- bull market for example.
Long term unemployment is still a very very big deal and some are asking where's the disconnect we had this crazy market but we -- -- that.
The labor market Ben Stein is an economist and author of how to really -- Your financial life and portfolio which is something we don't wanna do which is why we talked to baton so -- think what do you think about the stock market in what.
Well the stock market always you -- -- the rest of the economy generally.
That's fuses based on province not on unemployment in.
They're going to be 99%.
Unemployment and -- -- -- are good the stock market would still do well.
Skilled jobs will recover way way way before unskilled jobs general minor recovery so that's that's sort of standard -- -- and characteristic of recovery.
The unskilled labor will recover.
But we have an awful lot of people laborers who are so -- unskilled.
There's virtually nothing they can do we have a lot of you are unwilling to work and there's a brother problem -- them to do so.
They're going to be unemployed for a good long gone.
Let me think about one point he may wish is that the stock market it is the leader in their recovery.
Does that mean that we will see a dramatic improvement in the job market over the next year or so because -- -- when the stock market or tear your latter point.
Is there a part of the economy it's it's not gonna recover this time around.
Well I had predicting British as they say predicting the future is very very hard it's easy to predict the past but the the stock market -- a strong recovery.
Tells us usually that there is going to be you know Rory -- everybody as they say the stock market has predicted twelve out of the last six recoveries so -- there and there -- -- more -- the stock car market than there are real -- government but we are seeing a real recovery that a lot of jobs.
And -- the -- the government shedding jobs.
We -- doing extremely well and adding jobs unskilled labor is going to be a real problem the unskilled American worker.
Has to -- with the worker from China manufacturing things in China.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- From points south of the United States border here she is in a very bad situation that's going into the labor -- is virtually no skills is virtually a death sentence.
Hence the incredible interest in online schools and universities where a person virtually no skills can in a short period of time and fairly and it's.
Raise his skill level too little a level where he -- she is gonna get hired.
To the president going to be talking about the economy a little later on today.
Speaking up off the point there about these unskilled workers that we we want to get back into labor force because is better for everybody when there's more people unemployed.
How do we how do we help that is this the place for the government plays a roller is it's a place where it's -- to the private sector or.
An individual -- It's used to get back it's the marketing get those scales.
Well there's overwhelming data that government retraining programs do not work very well some of -- sometimes they work for the data is overwhelming it's usually money down the drain.
When people are motivated to do it themselves and actually put out there on money or borrow money for themselves to actually acquire skills themselves out again online universities I emphasize that -- work -- online university.
This is -- lives are.
The that there are much more likely to actually raise their skill levels and actually do something that'll get them -- jobs so.
I think it's partly -- the individual a little tiny bit ugly government but as I say the data is just -- overwhelming.
They're huge -- we're retraining programs don't work very well.
And it could click -- how he did quick final personal question for you.
Our -- I didn't -- that that you carry it back scratch -- with you an idea always at all -- why it's always nice to -- question why do you do that yet.
-- let's do that seat -- it's called -- back stretcher actually.
I think they could get you on her hate you might notice -- I -- -- -- my back and didn't cave at the back stats -- -- I just didn't.
-- -- -- -- Some guys some guy probably invented that and he's down manufacture them in Taiwan -- China and you got a millionaire whom and does that mean good back.
Specter that's a good point to the conversation comes full circle always which is why I really enjoy having on thanks for fielding.
That there -- anything -- clash that I think I think the badgers.
Then figure you could see his skin but can he carry it on -- -- a.
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