Bank America, Embezzlement, Goldman discussed on Financial Exchange with Barry Armstrong
Think the world just got wait who negative and look I've been living and breathing this because I'm long both of these name. I've been long Bank America really for year. And just watch it kept going down my subscribers add to it. Same story with golden. I said, you know, the headlines are terrible around this whole Malaysia thing and embezzlement. Federal, but you know, golden got down to time. Earning. And I know it's very easy to just say, oh, they're bad guy. You know? Goldman fact, the vampires at six times earning you buy those bad guys because they also have the very Mark guy. And you know, I think we're finally getting some redemption and realizing there's not a recession around the quarter. The average American consumer doing pretty well the economy is doing really well, there may be a slowdown. But you know, banks are levered to the economy more. So than almost any other factor in the economy, and I think this is just proof positive that concept, and it gives us a little comfort to not only bailing. But even you know at some of the long as we get into twenty nine hundred I wanna talk to you a little bit about the the ongoing shutdown. I suspect this is an area where we may have some differences in that, you know, what we're starting to see is not just for the federal employees that aren't being paid. But contractors that do business with different agencies are able to be paid simply because those agencies are shut down. And so we're starting to see the spilling into the private sector a little bit as well. Now, I'm curious your thoughts as to how this is impacting the overall economy at this point. My guess is that what's ultimately going to happen is some sort of resolution the government will reopen and all the back pay. The people are do will ultimately find it way into people's account. Now, unfortunately, that's going to create a little hiccup between now. And then we don't even know when that it, but the president did signing order thing that everyone will get eight eventually what probably happens that some of the kind of discretionary purchases get postponed. Okay. If you don't have the money coming in. You're probably not going out to dinner. Right. So.