video transcript

I'm orders columnist -- A few days in corporate reporting season and so -- earnings looked pretty good. In part by the fact that expectations. For overall growth the low. Point one. One thing we can definitely expect to see is that some companies -- report disappointing earnings are gonna apple -- At least in part. On the fiscal -- And uncertain. Saying that game and their clients students spend money and couldn't make investments that they didn't know where there -- all. Undoubtedly for some of these companies this is shorter. But for a lot he's just another hundred years storm that kind of thing laying on time. The bigger issue I think is where profit growth is going to come from across the economy if we don't see stronger right. Margins. Across the economy is to share of GDP. Are -- near an all time -- -- just last. In fact they've only had three other times in the last century when margins than anywhere close to our. First in 1929. Just before the crash and the Great Depression. Check and during World War II which is an anomaly that has a total war really is quite good or crop that's. And finally. Asked before the crash we went through in the last game. I'm not sure I expect either -- war war or -- but I do think it's argues still wrong. That we're not going to see companies squeezing more profit out of the top line revenue. They are going to have to see growth. In that to happen. Stock market and large we're gonna have to error overall economic. Take your --