Donald Trump, Stephen Moore, NJ discussed on Biz Talk Radio Show

Automatic TRANSCRIPT

Bring me a garden state host of eyes on NJ and politically politically direct on eyes on NJ. Fernando join us a little later in the hour. We're lucky enough to have Ah! One of Donald Trump, one of the top men on Donald Trump's economic team. Stephen Moore joining us in just a moment here. 1 25 Mr. Market likes the fact that this $1.9 trillion coming in, I don't but these are things we're facing here and As you see more and more and more spending on dit looks like the magic printing press in the sky is gonna be running for quite some time now. Global institutional players like Black Rock, the largest asset holder, asset manager in the world. $7.1 Trillion, announced just two weeks ago that they're gonna let some of their funds stopped by crypto currency, namely Bitcoin, the woman most widely adopted at this point. You know, way back in the day old people who are afraid of that. They would buy gold on. I think some younger people are looking at Bitcoin as the new gold and If you continue to see unchecked spending from the new administration than we can expect the dollar to work full. As you see, the dollar is Global oil prices are spiking and many Of the allure of the major commodities in the world are priced in you. It Priced in U. S dollars, and I think the little bit of a full of the dollar is causing also rising commodity. Someone who knows a heck of a lot more about this stuff than I do. Joins us right now. Stephen War with us once again. Mr Moore. I am scared for the dollar. And I know Donald Trump had to do some emergency spending to get us out of the pandemic, but another two trillion on top of it. I think this is Really going to hurt the dollar and I think You know global commodity prices. I think you're right about that. You know, we've seen Look what's happened to the 30 year Treasury, you know? Well, now, Tonto close to 2% on that Now That's a really great you know, in historical terms, but still you know what was less than 1.5%. No, no. It's a pretty significant rise. If we continue to see these interest rates rise by the way, then obviously the cost of federal borrowing rises every 1% point increase. In the in the interest rates causes a trillion dollars increase in our debt load on, so you know, you become a dog chasing its tail where you're just paint. Just to pay the interest on the debt. You know, I also worry about the dollar. I also worry about, You know, inflation. You mentioned oil prices up. I've noticed that I don't know if you notice it where you are, But in the DC area where I live, you're starting to see gas prices go up. They Bruce about 25 to 30 cents a gallon over the last Answer. The reason for that is simple. When you reduce the supply of something what happens to its price? It goes up and all of these assaults against American energy or very negative my opinion, not just for jobs, but also these, you know, important companies like Exxon and Chevron and the small drillers. Yeah, and, Yeah, I was seeing it here in New York like lickety split. That the pump of flying up the other thing that scared me and you meant mentioned inflation. A lot of my audience. They're small business owners and entrepreneurs and a lot of them are in the construction field, and they're telling me J T. The prices for building materials are through the roof right now, um and you know Jack Terry, with Donald Trump Highest home ownership from minorities highest on new stuff. New starts for new homes on Tao Building materials and inflation could even put that to an end. Now that I mean, obviously be more expensive to build new homes, and that means that the houses Will be obviously. Doesn't cost more to build them. It's interesting because we're gonna economy that is teed up. Ready to just you know, like a golf already be hit $250 yards right down the middle of the fairway if we don't screw it up. With new regulations, more energy costs, more taxes, more death, But so I am worried about this. The 1.9 Trillion, by the way, I think you know this, but it's worth repeating. I think they said this on your show last week. We have the Children dollars out there in Kobe relief money that still hasn't even been spent. Environments, Russia out of the gates to spend another one point not 90 Million. That's absurd to me. Why don't they first spend the money we body authorized and Back in six months, and we can debate this, But this is really not a covert relief bill. This is a bill that's really worried it towards helping left wing groups like helping the blue states get bailed out because of their problems. The teachers unions want $150 billion more, even though they're illegally on strike in place, But Many states haven't even been in front of the classroom for 11 months now, so the keys of Get the economy opened in the business is open in these blue states, Get the school's open and get the vaccine out. There we do those things. I think you get up five or 6% road for the rest of this year. I wish Donald Trump were still in office of Like, many like Other Americans, But you know, I could see a place. You know. Randi Weingarten, the head of the American Federation of Teachers, and Michael Mulgrew, here in New York, the biggest teachers union in pretty much the country, the UFT. They're acting like mob bosses right that they basically saying we are not gonna honor Because we don't want to vaccinate our teachers. Now many nurses, health care workers, X ray technicians air out their frontline workers. They get in the vaccine and do what they gotta do. Um I almost feel like if Donald Trump was in there he do a Ronald Reagan with the air traffic controllers and say, All right, all you teachers unions, you're gone. Anybody who wants Back, But Joe Biden is not going to do something like that. You know, great minds think alike. I've been saying exactly the same thing. I remember when I first came to Washington. It was right about the time that Reagan fired day or traffic controllers because they were illegally striking. Had you know they were putting our nation's you know, health and safety of risk..

Coming up next