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scott shellady

Slowing But Growing

Is there no other choice but to continue on the path we’re on now to keep the economy growing? Where does all the free stuff end? Should workers’ representation be reinstated in boardrooms? Fox Business contributor, Scott “The Cow Guy” Shellady joins Dan and Amy to discuss.

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Economic Nationalism

Is Warren’s “economic nationalism” that Tucker Carlson is supporting just exporting inflation? Is the Fed doing what Trump wants? Does the economic outlook show that it’s not the best time to get into tariff wars with other countries? Are the jobs numbers slowing? Fox Business contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss.

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No Spin Zone On Booming Economy

Is this a tough day for the left to spin the April jobs numbers that beat the estimates again? Where can we still be doing better? Is the opioid epidemic keeping people from participating in the booming economy? Is there anyone out there that Trump can nominate for the Fed Board that the media and Democrats wouldn’t smear? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Kristen McQueary to discuss the April job numbers.

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March Jobs’ Numbers Beat The Estimates Again

Is there a chance of a recession in any given year? Why can’t we stoke inflation? Will Steve Moore and Herman Cain be able to figure it out if they make it on the Fed Board? Does a hot housing market portend another housing bubble burst? Will the “participation trophy” generations ruin our economy? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss.

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Great Time To Be An American Worker

Why are we still not seeing the fruits of the stimulus that has been put into the economy? Is the $15 minimum wage sustainable? Why are we always talking about new taxes and not spending cuts? Fox Business Contributor, Scott “The Cow Guy” Shellady joins Dan and Amy to discuss.  

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Jobs’ Report Surpasses Expectations

Is there reason to be optimistic about economic growth in 2019? Do the January numbers prove how “non-essential” federal employees really didn’t matter to the economy? Is Brexit important to America’s growth? How much will the UK save if they leave the European Union? Is there anything more important for the economy than the trade deal with China? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss the January jobs report.

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Slow Growth

Will we see slow economic growth in the coming months? What is causing the whiplash in the stock market? What message should we take from the stock market? Will President Trump soften his hard-line stance on tariffs? Is all of Europe going the way of France? Dan & Amy talk with Scott Shellady, Fox Business Contributor on the November unemployment numbers and the economy.

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How Bout Them October Jobs Numbers?

Will the good jobs report before the midterm elections move the needle at all? Will the rally continue? Is the economy finally bringing people off the sidelines into the workforce? How can Democrats run against Republicans in this booming economy? Fox Business Contributor, Scott “The Cow Guy” Shellady joins Dan and Amy to discuss. 

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Should There Be Panic About The Market?

Despite the market downturn is it still good to be us? Are liberals still not getting in the market because of their dislike of Trump? Is the social media part of the tech sector going to take a hit? Is it worse for the stock market to go up for no reason but better to go down for a few good reasons? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Kristen McQueary to discuss the market pullback. 

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What’s The Good News?

Were the jobs numbers just okay? Is inflation going to affect interest rates? Should we be celebrating the lowest unemployment rate since 1969? Are the spiraling premium costs burdening Americans and their employers? Did Obama’s ramming through of the healthcare bill begin the divisiveness of politics that we’re experiencing today? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss.

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Analyzing The State Of Jobs And The Economy With Scott "The Cow Guy" Shellady

Is the U.S. headed for a serious trade war? What does the national jobs picture look like moving forward? The noise around economic news can sometimes make it difficult to keep up, but Scott "the Cow Guy" Shellady – trader and Fox Business analyst – constantly has his eye on market trends. On this installment of "Against the Current," Dan Proft and Shellady explore a range of pressing economic issues – from trade and fiscal policy, to forecasting the health of manufacturing, agriculture and other sectors. Does innovation always help economic growth? Does the Trump administration inspire much confidence for free market advocates? Proft and Shellady answer all these questions and more in an in-depth look at the current state of the economy.

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An End To Easy Money

Despite Chicago’s potential new mayor’s opposition to self employment, how is the rest of the country doing? Good job numbers, decent wage gains, but what is needed to really set the economy off? Has there been too much easy money from the Fed? What will be the impact of the unwinding of this? Fox Business Network Contributor, Scott "The Cow Guy" Shellady joins Dan to discuss.

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Happy Days Again?

Should profitability be driven by market competition or government selection? Have we already reached the high water mark on GDP growth? Are we going to make it to a zero tariff trade agreement? Before we discuss tax cuts 2.0, are we still waiting for good things to come from the current tax cuts and deregulation? Fox Business Network’s Scott “The Cow Guy” Shellady joins Dan and Amy to discuss.

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Tariff Tantrum

Is the labor force participation rate holding the economy back? Should we be concerned about another real estate bubble bursting soon? Will Trump’s tariff policies affect the everyday consumer? Fox Business Contributor, Scott “The Cow Guy” Shellady joins Dan and Amy to discuss the May job numbers.

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Obama Era Jobs Report

Does the low unemployment rate really mean anything? Do CEOs have more confidence but no numbers to show for it? Is it going to take more than a year for the tax cuts to start kicking in? What’s going to fix the leak in the Fed? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss the April jobs report.

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Growing Population=Growing Market

Were the March job numbers what people were hoping for? Is Kudlow correct in predicting there will still be high GDP growth this year? Is Trump’s rhetoric to blame for the ups and downs in the market? In a trade war, no one wins, but doesn’t someone lose more? Fox Business Network Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss.

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Trump Is Doing Something Right

Are the successes of Trump’s economic policies making it hard for his opponents to not like him? Will his imposed tariffs bring people to the table for negotiations? What is the market going to be bracing for when Trump rolls out his infrastructure plan? Fox Business Contributor, Scott "The Cow Guy" Shellady joins Dan and Amy to discuss the February jobs report.

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200,000 Jobs Added

Are the 200,000 more jobs a good sign for the start of 2018? Does Trump deserve credit for the low unemployment rates? Is Trump bringing common sense economic policy back?  Do the markets care about the national debt? What impact will potential Trump tariffs or other trade protections have on the market? Fox Business Contributor, Scott Shellady (The Cow Guy) joins Dan and Kristen McQueary to discuss. 

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Trump's Approval Rating Same As Obama's After 1st Year

Has Trump succeeded in the hardest task of turning around the sentiment of CEOs? How will cryptocurrency affect the markets? How much longer until government gets involved? Does the current success of the markets have anything to do with the previous administration’s lack of experience in the private sector, unlike the current one? Is the market on stable footing yet? Fox Business Contributor, Scott Shellady joins Dan and Amy to discuss.

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Proft: Good morning, Dan and Amy. And jobs numbers for December out. The projection...or the data collection by ADP and Moody's, had a big number, 250,000 jobs for December, meaning 2.54 million new jobs in the year 2017. The Labor Department's numbers a bit lower, 148,000 jobs added in December, bringing the total number of new jobs created in President Trump's first year to a fairly robust 2.1 million jobs, in addition to the nice 3%+ GDP growth. Again, something we saw for three straight quarters, and we didn't see for 8 years under President Obama. Jacobson: Yep, and the unemployment rate stayed the same at 4.1%. Proft: For more on the numbers, and the meaning, and Dow 25,000... Jacobson: Woo, yeah! Let's not bury the lead, Dan! Proft: Well, that's PART of the lead. I dunno, look...Scott "The Cow Guy", Scott Shellady...he's a bit of a cynic. Jacobson: Y'think? Proft: He's not...not a rosy optimist, he's been warning us about this "economy on a sugar high" for many moons, I wonder if he's changing his tune. I wonder if he has... Jacobson: ...swinging from chandeliers this morning? Proft: Well, I wonder if he's liquidated all his assets and put them in Bitcoin. Jacobson: Ohhhh... Proft: For more on all these topics, we're pleased to be joined now by "Scott the Cow Guy", Scott Shellady, Fox Business News Contributor, Hi Scott! Shellady: Good morning. Yes, good morning. Jacobson: So, are you happy this morning? Proft: Umm...well I don't know, there's lots to talk about. There's such a mish-mash. I mean, there's a few other extenuating circumstances out there. I'd like to add to the fact that we've seen...I mean, you probably have it on the tips of your tongues, but the Dow year over year last year was up 25%. Proft: Right. Shellady: And the NASDAQ was up 28%. I mean, those are HUGE numbers. But we just had some information come across our desk that said that in the last 5 years, so 2012 to 2017, individual retail investors pulled one trillion dollars out of the market. So, this rally really hasn't been participated like everyone thinks it has been, and a lot of the money that's been put in has been institutional, and/or stock buybacks and stuff like that. So, maybe when we start to see the retail investor get back in, that's when you should really get out. Because usually that's how this thing all works out. Proft: Well, elaborate on that. Especially with the tax cuts getting and the prospect by some of our more optimistic supply-side friends like our friend Steve Moore, 4% GDP growth this year. Shellady: Well, you know...I've been doing it 30 years, guys, and I think that one significant thing that's different with Donald Trump this time around, the presidents we've had in the near past, is that he's...one of the most difficult things to turn around is sentiment. You can start to turn some of these economic indicators around with policy like tax cuts and the like...but at the end of the day, we're finally starting to see the sentiment morph into CEO's buying property, opening up their pockets, you know, spending money on equipment and the like, and that is the hardest thing to get done. See, psychological problems in the financial world are so scared, right? Nobody wants to talk about a recession, or deflation, because a lot of those deflationary issues are psychological, right? Nobody's spending money even though things are okay. There's a ton of books written on how to combat inflation, because that's not a problem that's really a psychological issue, that's more the financials. So Trump has done a great job psychologically turning around the country's psyche, and then that has been, I think, a really large part of this rally in stocks. Jacobson: How do you think Bitcoin, and all that stuff that Dan is dabbling in... Proft: Cryptocurrency. Jacobson: Cryptocurrency!...is going to affect the Stock Market? Shellady: I think it's way too early to get involved with those things, and I mean, our business is regulated...OVER-regulated, just like everybody else's, and I've had to take so many tests and exams and refresher courses over the last twenty years, and one of the first things they always want to warn us about is money laundering, right? "Does this customer really have the money, or is it coming from Russia?" So I think that Bitcoin and the likes, all the other coins that are out there, are going to be ripe...rife...with people laundering money. And I still think there's no way you're not going to have the government get involved where there's that type of thing easily going on. So way too early to tell if thing's really going to...I mean I love the BlockChain technology, and it's going to have some great applications. But as far as these Bitcoins and cryptocurrencies, it's too early to tell. The best way to say it is now we're in the Pioneer stage...and my definition of pioneer is "a guy with a coonskin cap, facedown in a puddle of muddy water with an arrow in his back", okay? That's where we're at with Bitcoin right now. Proft: *laughing* That's vivid! Thank you for that! Now, Paul Manafort did ask me to hold some of his assets, and deploy them, so that's why I've gotten into cryptocurrency, so I'm just saying. But go back to what you were saying before, particularly about your business being over-regulated. It seems to me, one of the under-reported stories...and we've tried to over-report it here to make up the difference...is the deregulation that's occurred in Trump's first year, or just the restraining the government from continuing to pile on new regulations, Trump famously said towards the end of the year "22 regulations repealed for every new regulation". And so you started to see the sentiment turn around and that GDP growth spike up well before any taxes were cut. Shellady: Yeah, and then that goes back to my point. He's been able to turn sentiment around just by doing a few things like regulation. That's gonna make the CEO feel like "Hey! We've got a business-minded guy in office for the first time in a while!" I mean, take a look at the people that were in office under the last administration, see how many of them ever really worked in the private sector. I mean, it's shocking to find out how many of them NEVER worked in the private sector. So, I also saw something that was...you probably..I don't know if you reported on this Dan, but Rasmussen came out with a poll at the end of the year...only last week...that said that Obama and Trump, they had almost identical approval ratings at the end of their first years. And I think, you know, Obama started real high and then slid down, and I think that Trump has rallied a little bit. But it's interesting to see that...at the end of the day, love him or hate him, and you know, he's easy to hate, I get it...but when you have a Stock Market that rallies 25% in one year, and the sentiment has done such a big turnaround, it's hard not to be excited about the future if you're a CEO in America. Proft: But do you still have the concerns that you've expressed on this show before...I mean, this was still during the campaign so still during President Obama's tenure mostly, but about, you know, the Feds tinkering with the money supply, and quantitative easing, and this kind of sugar high that the market was on, the economy was on? Or do you think that as the Fed has receded in terms of its tinkering, and you see the deregulation and now tax relief, that we're kind of getting past that, and we're on more stable footing. Shellady: No, I don't think we're on more stable footing. Not at all. I mean, we're now running up against a record of the longest amount of trading days without a 5% pullback, and the record was set in 1929. So, we have a Stock Market that has benefitted from stock buybacks and I mean, we haven't...the mergers and acquisitions...we haven't seen...even the 4.1% unemployment, Dan and Amy...how can we have 4.1% unemployment, which is almost a full percentage point below what...economists used to say that 5% was "full employment"...and look at the wage growth...the wage growth numbers come out today. I mean, they're tepid. They're not going DOWN, but they're really...if we really have a 4.1% unemployment rate, we should be ripping the faces off each other trying to employ people with higher wages! It's just not happening. So something's broken. And that's the problem that we can't figure out, and the Fed doesn't know the answer, or they obviously would have done it already, number one, and number two is they've ALWAYS been wrong, they've been consistently wrong. So look, I don't even know how you can say, in this environment, you have to raise rates, except for the fact those are people like the Jimmy Ayerero's (?), a good friend of mine, of the world that want to see some quote-unquote "normalization", and normalization is getting interest rates back up to a healthier level. But look, in 30 years of doing this job, you only ever raise interest rates in order to get out in front of an overheated economy or an economy that's about to overheat. And can anybody tell me if our economy's close to overheating, though? No! So we've got problems, and the Fed's at the charts...they're at the helm, and they don't know what to do. NOBODY knows what to do, and that's the problem. Proft: Alright, you used up your two violent metaphors. You got your ripping faces off each other, and you got your Davy Crockett face down in a puddle with an arrow in his back. So that's all we allot to any guest, Scott. Shellady: *laughing* Alright. Proft: Scott Shellady, "Scott the Cow Guy" Fox Business Contributor, Scott thanks so much for joining us, appreciate it. Shellady: Alright, thank you.

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Is Trump Rewarding His Voters With Middle Class Tax Cuts?

Is there potential to spur growth with the broad strokes of the new House GOP tax plan? Are happy times here again or is the economy stuck in first gear? Did the appointment of Jerome Powell as Federal Reserve Chairman make the markets happy? Fox Business Contributor Scott Shellady joins Dan and John to discuss the October unemployment numbers and House Republicans' tax plan.

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