by Anthony Wile, The Daily Bell:
Daily Bell: What?s going on with Wall Street? Things seem to be getting worse.
Charles Payne: Let?s talk about the stock market. The stock market is up over 100% in the last four years and while a lot of people point to the Fed money printing ? and that no doubt plays a role ? the fact of the matter is for the most part stocks are undervalued and the main reason for that is because American companies are uniquely positioned to take advantage of what is really a global boom. We spend so much time, especially in the financial media in America focused biopically on Europe and those fading empires that for the most part shot themselves in the foot, put it in neutral, lived off the fat, lived off their reputations, sank their teeth into socialism and now they?re on a precipice. But we don?t really talk about the 5 percent unemployment rate in Russia, we don?t talk about the money gushing into the Philippines, we don?t talk about the economic miracle in Turkey, we don?t talk about Indonesia. In fact, we don?t talk about Mexico, which is absolutely on fire.
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