Duff, Credit Crisis, Alan Greenspan discussed on CNBC's 'Fast Money' - Fast Money 10/09/17

Automatic TRANSCRIPT

So much for the duff so it's not who's the fed governor it's what the inflation expectations are doing and that's what derails it if you really get a rampant inflation expectations that in verts the curve paul volcker style almost i think that is the only thing that could create the peak even 1987 wasn't peak it was ual credit crisis when they couldn't get financing a 1989 so it sounds like you think the thing that could derail the markets is very unlikely to happen i mean is that total that's totally so so i'm listening today a lot of folks are talking about how the fed manipulates the curve really do it every cycle and then they east too much i remember alan greenspan and one point saying you'll never see three percent again i don't know friedman on the upside he met on the downside so the fed always over stimulates and then it takes lag it in the data and then they have to overtightening the 10year stays there any invert the curve and you shut down credit he cannot fix credit with credit so it's going to end badly but we're still on the right side of tony thank you tony dwyer thank you guys that's always ominous where he's coming off i can't agree more on financials and i think banks are in record profits and i think they have more operational leverage to this economy and the growth we're talking about and i still think that the materials trade is very interesting a lot of these guys a run their businesses very different for the last few quarters i'm talking about integrated miners steel companies that's where i think there's upset we got city and jp morgan to if your holdings report this week thursday i think right i mean i don't like it when they run up into earnings is the bars higher but but this is not a quarter that is really going to be critically important.

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