Can Someone Watch This For Me & Tell Me What Mr. Marble Is Saying?

Here is the conversation according to my ears. Glasses guy: Meanwhile in real life... Chris Marble CPA with CCM financial. A lot of us were looking at what was happening to the market this last week. People tryin ta get mortgages. The government shut down was bad fer finance. We're gonna go through it again here as the starting of December the sorts(??) that lead up to another one these debt ceiling battles. What's the big picture if you're a family er small business? Marble: Well there's a lot of concern out thar. People are have a lot of unrest, there's a lot of uncertainy, uh you hear the word cautiousness a lot when it comes to the American public. Um there's all these people that are gonna be getting back pay now because they're gonna be returning to work. Ya know... Glasses guy: Are they gonna go spend it? Marble: No, they're actually not gonna go spend it. Uh there's a lot of people sayin that they don't know if they're gonna turn around and be furlowed here in a couple of months and... Glasses guy: So it could impact Christmas sales. Marble: Yeah, it could have a big impact on the holiday season which is obviously a time during the economy where money's spent rampantly and right now these people might be just holding onto their money, puttin it under their mattress er somethin like that. Glasses guy: Not investing. Investing's come to a screeching halt in many places. Look, I'm not sure anybody in congress knows how to read a balance sheet, but I do know this: People who're tryin ta get mortgages you gotta have those transcripts by IRS. That was shut down. There was a lot of commerce in terms of home mortgages. The recovery in that field has not been great. So in terms of what yer hearin in the mortgage market, are rates goin up, is it back to normal pretty soon er what could we expect for first quarter? Marble: Well, I'm thinkin because of the hesitancy with the Treasury bills um and the bonds n everything uh the rates could escalate um a little bit. One of the things that just came out the other day is that uh lenders are actually reducing the stipulations on credit scores by a little bit which is the first time this has happened since 2008 and I believe it's a result of all this other negativity. They're trying to kind of buffer it a little bit. Glasses guy: Okay. One of the things that's keepin mortgage rates down is Bimbert Anky's (??) been selling bonds like crazy. You look at what the Chinese did. They down graded. The Chinese basically are our landlords okay? Cause our bank, the United States um it has to be something that they have to sell these bonds, but who's buyin em? Marble: I don't..I don't know who's buyin the bonds, but ya know it's really bad because of the downgrade from the Chinese and uh you know really the we know how the uh bonds and the treasury bills how they have a trickle effect into the rates fer people that are wantin ta go out and buy cars, people that are wantin ta go out and buy homes..So this is um you know there's a lot of people out there that are nervous about goin n gettin a new home, goin in gettin a new vehicle, what are the interest rates gonna be.. Glasses guy: You counsel small businesses and families. Do ya take on a little debt right now because interest rates are gonna rise? I know that you don't like debt, but it's 6 er one half dozen er the other. What do you do? Marble: Yeah what's interesting too is ya know just now small businesses can go out and get loans again as a result of this. So that does come into play whether er not to do that. Uh I typically advice not to do that even in these type of situations if at all possible not to do that, but some small businesses.. there's a lot of reports right now that some small businesses are having a very difficult time trying to recover from this government shut down. Glasses guy: And we're goin through it in um a couple of months again. Any big, real big uh head line about what do do if yer a family er small business. 10 seconds. Marble: Yeah. People just need to um be cautious because ya know we don't know exactly what's gonna happen. Our government has continued to kinda kick the can down the road and looks like that may continue to happen. Glasses guy: Oh boy. Merry Christmas. Chris Marble, thanks fer bein here on the hot seat today. Marble: Thanks.