11 Burst results for "Jim Yury"

"jim yury" Discussed on 77WABC Radio

77WABC Radio

08:27 min | 5 months ago

"jim yury" Discussed on 77WABC Radio

"Even more in the stock market mean copper iron, or a lot of things exploded as potential dollar hedges Because now we know the feds not going away forever if they start doing terrible policy. Yeah, I just I'm saying, I wonder if the market is suggesting the James Madison is still running the show that that separation of powers is working because it sort of seems to me that the market would have responded a lot worse than it did if they thought it was actually gonna happen by the way. I knew James Madison and he was a follower of Adam Smith. He wouldn't have approved of any of this stuff, man. Jolliffe Oranje you were going to say. Oh, yeah, I was just gonna Davis point. It's exactly right. So what's gonna happen is you're gonna get growth is going to slow my opinion markedly in 22 relatives were the consensus is right now, which is growth somewhere. Let's say a bit above 3%. But you're going to try to offset it by by easier money, which just creates a bigger misallocation of capital, which only reinforces. Poor growth tax policy, and in the short term, you get you get the sugar high, but boy long term it's really bad, not the least of which is that the separation of powers if you will Between the Treasury and the Fed basically been been eliminated. It's the 1951. Treasury, Tripp says address Treasury out saying the Treasury and the Fed on the problem, of course, will be that when growth weekends in 22 God forbid they may come with more stimulus because if it didn't you know of a lot, then worked and maybe even more will work the next time Joe you wrote. Really interesting report this week. Where you argued that While goods inflation. Frequently jumps up on a cyclical basis, but doesn't really cause the aggregate inflation rate for all prices to jump. You point out that services Inflation is going nowhere. In fact, maybe going down. Could you just Let everybody hear that argument because I It really caught my eye. Sure, Most people in the commodity story is for real. It's a global growth recovery led by the U. S that began last year, so copper palladium lies industrial metal prices are up, and that's causing goods. Prices to rise. Procter Gamble this week announced he was raising prices. Food prices are higher energy, etcetera, but in the cost of living index in the C P I, the bulk of Ones. Cost of living is what they pay for services and in aggregate in totality service prices, which you're about 75% of the index are growing well under 2%, and the trend is lower in the argument that I've made is still excess labor supply. Both here and globally. It is unlikely that service inflation goes higher and the less servants inflation goes higher. Inflation expectations remained low and contained, which has been the case. And instead all of this excess government spending and liquidity in the short term anyway goes into the stock market and the broader asset markets. So Jim Yury Oh, that argument says the inflation fears are over baked. Finally something we can disagree on this show. I love it. I think that is not true. And I'll point to a couple things. Okay? I think when you start talking about inflation we talked about you talked about the man will demand volatility and then demand spike Global demand Spike. We gotta throw in supply disruptions to and that's wonderful to talk about those and those things. Both might be transitory like we're being told by Jay Powell. But then you when you go to the dollar hedge part of it. And as we got, Friedman said, you know, it's inflation is always and everywhere a monetary phenomenon and then you look at things like Bitcoin. And I'm going to say the yield curve when I know the yield curve hasn't steepened a hugely and significantly But if you throw in the fact that 25% of the world's sovereign debt is trading negatively, and there's always this overhanging threat. That the Fed may come in and accelerate bond purchases. I think if you took those two things away, our yield curve would have been signaling to us mass inflation, and I think that the three factors that are pushing these higher price or known, of course, the industrial commodity there, right and if you drew a vent diagram, they'd be in the center of all of them, And that's why lumbers up, you know, three or four times. What was it Every time I look at that chart? I get sad about missed opportunity, But I think that there is an inflation worry that's being obligated by normal like gold, not rally because two chilling dollars have been sucked up into crypto currency. And I think that there's things that are signaling it that we're missing Joe Rebuttal. I would say Jim is just proving my point that the money isn't going to where it's where we typically think of it, which is good and service inflation. Let's not forget the C P. I is an urban index. Which heavily waits the major metropolitan regions, of which many people have left and rents there, which is the biggest single component of ones cost of living are really plunging. So I agree that you're going to see asset inflation elsewhere. But just not where the Fed wants it. Charge. Lee runs the risk Larry of a much bigger bust down the line, not in the short term, but down the line because the fundamentals the equity fundamentals will eventually become on anchored from the From from where prices are likely to go with easy money and excessive government spending day Benson, you're the tie breaker in this dispute. Well, that's good, because I got the right side on this one. And and it's that there is cyclical reflation in the midst of secular deflation and the entire argument Jim makes which I agreed with Milton Friedman, that inflation is always a monetary phenomenon. The problem that people are missing is that this is not monetary. It is staying in excess reserves. Because alone demand so suppressed because velocity is so low and you can get some cyclical movement hire mostly out of base effect and commodity prices, but really the secular deflationary pressures of a generation of access government spending Allah, Japan It is a deflationary phenomena. There's my vote, Larry the new Twitter rules. If we disagree on anything, we have to become mortal enemies and hate each other forever. You guys agree to those terms. No, no, no. No, no, no, no, I don't do twitter anymore. I used to, but I left it. I don't care what it's too crazy there. Too many crazy people in Twitter, however, uh, Jimmy area What is your investment strategy? I know on the On the fox business show. Kudlow you You indicated you'd be a little more cautious. Yes, That is true, too, because I do prior to all this tax nonsense, too. I do believe we're not some stage of a bubble. That's not completely inflated yet, but I do know there's some things I really liked this week. I like the fact that interest rates don't seem to be going up, particularly the long and like we were before, so remember that makes tackle little more attractive. One of the reasons that tech broke 13% is because interest rates were going up in that May. You know those future revenue streams that we bacon so high in tech so much more unappealing and in a higher rate environment, so now that they're stabilizes. Then as that goes back through 14,000 on guy want to see all those earnings? They're coming out this week, but I like Tech again. I also like banks because they bank did well, even though the yield curve stopped steepening, so they must be pricing in a bit of an economic boom as well. So I'm still relatively positive the stock market I am more cautious because of the bubble thesis. And I'm putting on some option hedges that last for the next few months, But I'm still relatively bullish. California What is the interest rate outlook? Not the Fed funds rate, but, you know, market rates fives, tens thirties. The interesting thing, Larry is that you get the last handful of business cycles. Long rates typically peak within 15 to 18 months of the recovery, which would tell you that wherever the peak and yields are, it's likely to be this year. Believe it or not, so we'll see. I mean, will depend on what happens with this infrastructure of playing the fight and put forward infrastructure with quotes around it. And then the second plan, their guest came out this past week. And doesn't get past because it seems to me that the race trajectory is going to be a function of how much more spending with God Despite there being a boom this year, the deficit to GDP ratio is going to be 16% 17%. I mean, that's unheard of in the peace time actually run during Global war. So that was really impact. I think in some sense where re yields going? Of course, Will the Fed monetize my guess is yes. Which can answer your question. I don't see the 10 year not getting above 2% and a sustained basis. But I don't I mean, okay..

Jay Powell Joe Jolliffe Oranje 13% Milton Friedman Joe Rebuttal 14,000 Friedman 16% 25% Jim twitter Twitter Jim Yury three last year Lee Procter Gamble Fed Adam Smith
"jim yury" Discussed on 77WABC Radio

77WABC Radio

08:17 min | 6 months ago

"jim yury" Discussed on 77WABC Radio

"Stimulus package, and we'll get to Jay Powell and possibly Operation Twist in the Yorker and blah, blah, blah, but nobody really nobody really factors. This tax thing. Into their investment decisions, and you think that people will still not factor tax hikes into their investment decisions? That's my belief. I think there's too much other things going on. Now that are positive of the stock market in the one negative. Obviously, there's you know, adjustment rate. So based on, you know, substitution theory that stocks become a little less. Attractive when rates are going higher, But I think we got to remember this. I mean, the sun's out the weather's turning state's opening up one Democrat, Saito had to read that headline five times before. I believe that Connecticut was actually announcing, opening up on March 19th. There's a lot of unbelievably good things happening with a tail wind of a stimulus package that's probably not even needed and it's obviously I think it's inflationary. I've been talking about that for for months. But it Z there. It's coming most probably, you know, so I think a lot of good things are lining up once. I had a great conversation earlier this morning with Governor Nada Lamont of Connecticut. Really has been a pragmatic, common sense. Connecticut governor working working the vaccines he's reopening 100% next week. Terrific stuff. A blue State Democrat. Really good. I mean, we had a great talk. I've known that a long time. My hat's off to him. Well, David Johnson survey the market Now you had more interest rate increases. But as kind of interested in this story member the old Greenspan put underneath the stock market stocks crashed. Then the Fed would come in under Greenspan, and it did under Bernanke. Um and just pump up the money supply, pour more liquidity. And I think now you got the bond market put hopes where the bond traders are waiting for the race. Keep going up there. Whether they won 55 on the 10 year, they're probably headed for 2% thereabouts. That could hurt the stock market. So the bond guys they're waiting for the Fed to come in and buy many more bonds and some few tile effort to reduce those interest rates that have Got up 50 or 60, or 70 basis points. They called Operation Twist controlling the yield curve and so forth. I basically hate all that stuff, but Is there a bond put, which translates into a stock put in case we have more corrections Is the Fed going to fiddle and faddle with Theo Curve, David Johnson. Yes, they sure are. And I'll tell you that's a really good way to put it the way you just kind of laid it out a bond foot. It becomes a stock. Put E think this idea that palace in to come out and say all this is kind of silly? I don't think traders that we're hoping on Thursday he was going to actually use the nomine creature Operation Twist, you know, have a realistic expectation. I think guys like I sort of know what they're doing. And I think that just the QB alone 80 billion months of Treasuries and 40 billion of mortgage backed they could stop doing the mortgage back tomorrow and do all 120 billion Treasuries and that holds the long end of the curve down there. There's a whole bunch of tools that they have. They're all manipulative that all interventionists that all distorted. Yes. They also are put to Bo David David. You think that there's comfortable with, you know, throughout 2019 10 year rates were between 1.5 and 2%. I personally don't think they start panicking and changing their rhetoric. Until it starts to threaten that 2% level or if it doesn't real quickly in the next couple weeks. You agree with that, right? I totally agree with that. 2019. It was more 2 to 2.5. I got down to 1.5 to 2 and I don't think they're figure is anything with a one handle. I mean, I don't think the stock market cares until you're closer to 2.5 even 2%. I don't think the earnings yield is threatened enough even at a 2% 10 year. I think the number gets more close to an ass, but I agree with you. I think that the Fed is watching it, but they're not going to go come out right out and say it because of the credibility factor, But it's just really hard for me to believe that people don't know. That this is what the feds objective is that there they really do believe they can perfectly massage this whole thing. I think it's utterly distorted. Here in the back of my neck stands up when you talk about sorry. Interrupt again. No, no, it is. It's terrifying that that they think they have that kind of control. And they probably do in the short run. But in the long run, it's terrifying. I'll save even probably due in the medium term. I mean, they can. They are very powerful. But then when I don't think the realizing that when they go too far, and the shit hits the rocks, what the devastation could be Venezuela just they issued a million dollar currency note because their their currency is such a touch. E. I know where the world is there. Not many and I? No. No way. We're not Venezuela. No guesswork. I want to hear this story. I was one of the Hawks in the administration trying to overthrow Madeira and his crazy Communist government. What are they doing? Jim Yury on Venezuela issuing. It's a million that boulevards is that with our community, all of our north worthless Bolivar's Boulevard and David, I'm not suggesting that we're Venezuela. But I am suggesting and I've given I've given talked on this for six months is that the possibility of hyper inflation is very, very remote, but it's become Slightly less remote over the last year with these policies and I don't I'm not saying that it's gonna happen and I'm not saying it's gonna happen in the next five years, But I'm going to say if there's a 1% chance that it's gonna happen now, in the next 10 to 15 years, that's significant, and that's what big points telling us and that's what some of these other commodities are. No, that's a very You know, I hadn't heard a lot of good talk about Venezuela recently kind of warms my heart. We tried so hard to overthrow that son of a You know what? Honest to God? I had plans with Bank Santander. This woman very wonderful, Smart woman. I can't remember her name. Who's the President? Bank Santander, which is ah, it's a Spanish bank, a very good Spanish bank operating in Latin America. And we had all these designs to give money to the poor people in Venezuela. If Maduro were overthrown, we were going to use churches. And MasterCard and banks. Antenna was gonna be the clearinghouse they offered to do it for free. And I tried so hard and at one point I had vice President Pence ready to give a news conference on it. But at the last minute he didn't And then I go in to try to sell it the trump and he didn't want to help them. I said no. So this we just have to show support. We're not gonna give it to him unless they overthrow Madeira. But anyway long story short, they we never did it. And the son of a gun is still there. So just before we take a break, Jim what they're selling a million dollars of what Million dollar currency because I mean just a million bolivars. Whatever I'm saying that their currency is so worthless that the denominations of their bills are just exponentially exploding, and by the way that they have gold they have gold in the Bank of England. Have a lot of gold in the Bank of England. Yes, they have a lot of gold, No cats and no rats and Caracas because they've become a food source for the people who are scrambling around. Oh, yeah, There's no gold in Venezuela that has all been stolen. Bye. Madero and his thugs and for other reasons, But there is a I'm sorry. I can't remember it. There is a god. They own a lot of gold. It's stashed away at the bank being on, however. I think the bank of Ellen has frozen it so they can't get their hands on. Anyway. We're going to come back with David Bronson, founder managing partner of the bonds, that group Jim Bureau, director of T, J M institutional Services and.

David Johnson Jim Yury 40 billion Latin America David Bronson March 19th 100% Theo Curve T, J M institutional Services 60 2% Jim 10 year Thursday six months Bank Santander next week 50 2019 Bo David David
"jim yury" Discussed on 77WABC Radio

77WABC Radio

06:08 min | 7 months ago

"jim yury" Discussed on 77WABC Radio

"The big issue was with the Dow ever get through 1000. And during the Reagan years that went up 12 fall during the Clinton years growing up, but we've had our crashes. We had the tech crash. We had the financial meltdown we've had coded We've had pretty much everything. 31,000 on the Dow. I mean, don't you think that's kind of amazing? That's about 31,000 on the Dow. Oh, I sure deal And I think that it is testimony to the stuff that you and I have kind of devoted our lives. Still, it's the testimony to free enterprise because it isn't like all the geopolitics has been great. It isn't like all the monetary policy has been great. There's been a lot of problems in that 40 45 year period. But right now the Dow and 31,000 and I would add even back last summer and that so called second wave. The market wasn't blinking. They never passed a second stimulus. The market didn't blink. Everyone says the market wants stimulates the market hasn't cared for months about stimulus about fiscal stimulus. Granted the market like the monetary side, But Larry, I just want to add to the answer. You're looking for about the market. We have to distinguish between NASDAQ and Big Tech on the rest of the market, because I think it's possible and I said that's under show two weeks ago that we're gonna have a binary outcome. We're a bunch of the really expensive frosty stuff does sell off this year. But a lot of the fundamental old line economy American enterprise that stuff might do just fine. And and that's really the perspective working. Why you guys are gonna make me be the voice of negativity here again. And I resent that. I want you to know, but I will point out that in 1981. The 10 year was on my chair right here. 15.842% in 1981 and has been in a persistent, pervasive move lower to where it's pretty much almost zeroed out. So I will say that if you want to look at the stock market and look at earnings field, is it the Greenspan model earnings yield versus the investable U. S Treasury rates. The stock market has been made more more attractive by Treasury yields. For the last 40 years. I agree with anything up behind him. Jim, I gotta feed something that's so important, Except for you're missing the most important thing. The E in the PD. The E in the PD has skyrocketed in the Dow right now. The Dow is not trading at 30 Times earnings like the NASDAQ in its trading of 16 or 17 times. The SNP's a little bit more, but you're right. It's been aided by declining bond deal. Then what happened that bond you'll got very low years ago. It couldn't get nowhere, but it just kind of flat lines. But what changed? Well, human, but he is also influenced by by debt service. And I mean, if you if you rolled back race, imagine a lot of these companies that have death that he would go down a little bit, too. And again. I'm mostly agreeing with you. I'm just trying to point out something that we weren't didn't talk about it enough, But I got to say on the debt service stuff. Take a look at the credit spreads and how narrow they are in the bond market. I mean, you compare junk to Treasuries. Corporate bond rates be double A's have edged up 40 or 50 basis points. But the spreads, which is a credit worthy matter, which gets you back to the E or profits, the spreads are really low. You want to take the other side of that to you? Can't I got more tools in here? I will say that by pervasive low rates you you forced this walk out the risk curve and you start buying things that perhaps you shouldn't and people start buying junk just cause it's an infield in town. Are you long, Jim Area, you long game stop. No, not to me. It's fun Peter, as long as it's legal, and there's an even playing field, and I think that that should be investigated very, very closely. But as long as that's going on, what do I give it? Diet. Those kids The ones want to do battle people using stimulus checks to buy game stop, so I would just conclude this has been a fabulous suit, half hour, but when I left Bear Stearns, the first time 1980 went on the Reagan transition group for the economic stuff. Uh, The 10 year was about 15% and the Fed funds rate was about 21%. So here we are, through many generations. Government Wall Street Broadcasting government broadcasting. I have no idea what that means in terms of my life. But the 10 years about 1.5% and the stock market is a 31,000. And when my friends Jim Glassman and Kevin Hassett rote Dow 35,000, which I think was about 15 or 20 years, and then we went into the tech meltdown. The fact of the matter is, if they stay the course they're going to be right. It's going to go to 35,000. David Box and I give you the last word free enterprise works. I guess that's the right conclusion. It really does. And you know what else is happening? There's about 40 years. We're talking about interest rates. The deficit went from below it. Excuse me. The national debt went from below a trillion almost 30. Treasury bond yields are down by nine. That's fabulous. Exactly Right. Maybe we should have bored deficits, all right. Thank you. You guys were great. Jim. Yury. Oh, David bonds and you make a great a great couple. I think this could be regular. A regular segment on our show. All right, We're gonna talk some money in politics. When we come back. We've got list Peak and we got Steve Moore. More bad news on the stimulus package. It could cost seven million jobs. I'm cut love. We'll be right back. Hi, everybody. It's your cousin received Guzzles tune into Channel 21. W L i W on Saturday March, the sixth at 10:30 P.m. as all these hoes TJ Lubinsky presents a classic concert where the legends of Motown soul.

Jim Glassman Kevin Hassett David Box TJ Lubinsky Steve Moore Jim 16 Larry Saturday March 30 Times NASDAQ 1981 15.842% Bear Stearns nine 31,000 1000 17 times 10 year 10 years
"jim yury" Discussed on 77WABC Radio

77WABC Radio

06:03 min | 7 months ago

"jim yury" Discussed on 77WABC Radio

"Yankees, Francisco Lindores. You see the future and the leader of my New York Mets and the Russians or at the Panera in he had to leave the Rangers. Cyd Sports Sunday this Sunday at noon. I can't wait on 77 w A. B. C From Wall Street to the White House. This is the Larry Kudlow Show on 77. W A. B c. Welcome back, everybody. I'm Larry Kudlow. Great to be with you. We're gonna turn to this stock market. Not a great week. Now is off 562 points. The NASDAQ off 682 points. NASDAQ dropped 5% last week and yes and P 500 dropped 2.5% 96 points so the market is hit some little problems and resistant points and jitters. Interest rates are rising. There may be a bond market revolt going on to Washington policies. And the economy's really strong great numbers this week across the board. Income savings, retail sales manufacturing Housing. Business equipment spending. Wow, everything booming. Maybe the market doesn't like the booming economy. Or maybe, you know all these Wall Street guys. Wanted stimulus They seem to love stimulus. Stimulus stimulus. But maybe you have to be careful what you wish for. Now the stimulus is coming. It isn't going to help Cove it which is already on autopilot because of the fabulous vaccines from Operation Warp speed. Maybe as a realizing. Whoa, wait a minute. We're gonna have to finance all this. The Fed's going to monetize it. Horn money that could be inflation, right? Don't want to get that excited about it. But you know, corrections come and go, So we're gonna talk to our experts on this. David Bronson, founder and managing partner of the bonds and Group And Jimmy Yuria, director of T. J M institutional services. Yeah, I say this to both of you. My old pal Ed Yardeni. Who's one of the smartest Wall Street economists. Hey. And and I and and Ed Hyman. We always fighting for the I I all star team and economics. And your daddy coined this phrase Bond market vigilantes. Coined it in the eighties. It was especially true in the nineties, because, um The Clinton administration ran into some bumps and the bond market seemed to steer their policies. Jim Carville, who was the Clinton adviser, said more or less that if he's ever reincarnated, he wanted to come back as a bond trader because bond traders intimidate the world and they impacted Clinton policies. Now I'll go to you, Jim. Yury a start up. I want you both take a whack at this. This looked to me like a bond market vigilante revolt. So it's not huge, but long term rates. Medium long term rates up 50 60 basis points in the last few weeks, a surprise And that seems to have negatively impacted the stock market. So where is this story Going? Is the bond market going to settle down? Jimmy Ario? Our stock's going to settle down or Is, are a lot of people going to be wrong. Who are, you know totally bullish. Lots of stimulus. Lots of more money to spend more money to buy stocks. What's the story here? Mr Yuri? Oh, I think the move in the bond market is a little bigger deal than you might be making it out. I think with the bond market is putting its foot down and with the bond market is saying to me very clearly is that These policies have been enacted, particularly her eyeball on the 1.9 trillion stimulus. These policies have been enacted to, you know, kind of make the lockdown easier for the population to stomach are not going to be accepted any longer. We're not going to turn a blind eye to inflation. Now the stock market Doesn't like a couple things It doesn't like when there's volatility in general in the bottom bond market or any huge market. The stocks get worried. They don't like, you know, they think there could be some sort of contagion. They don't like higher rates. But more importantly, I think this is the part that people miss a lot. Stock market is fine with inflation. But on Lee if they can convince themselves that the Fed is oblivious to it now, the bond market has rang the bell and said to the Fed that there is going to be inflation and we pulled We pulled tightenings into 2022 that big move on Thursday. I think it's I think it's a relatively big deal. Now. The stock market like most of my friends, were not in the finance world layout. That's the piece down 3%. What's the big deal? Now? This is everything is changing right now from a percentage basis points, probably Probably one of the biggest moves in history over seven months and race and that's not a fair comparison. Understand? Cause we're starting from basically zero s. So let's just pretend I didn't say that. But it's a big move. It's only been like three or four moves. This big in the seventh month period and rates tens and five in the last 20 years, So I think we're gonna have to get you. Something's gotta give very quickly lock down. They're not going to stay in place. If the government can't stimulate to make him easier to swallow, So something's got to give in the next couple weeks, and I don't But by the way, I still think the stock market's okay. It's kept above that 3800 level in the S and P and I'm still fine with it at the moment, but I think it's an interesting week. Wow. What is that mean? I don't want to make little of it. Because I think that you know the bond vigilantes are at work. Let me look. David Bunsen Year to date. The 10 year note has gone up 50 basis points Now that's 50. It's not 300. It's 1 42 with the clothes. On Friday, but I don't think people were expecting that 50 basis point move and I'm looking at The 10 year tips the breakevens Implied inflation. That's gone up..

Ed Hyman Ed Yardeni Jim Carville David Bronson Jim David Bunsen Larry Kudlow 562 points Jimmy Ario 682 points 5% 2022 Jimmy Yuria Thursday 2.5% 10 year 300 3% Francisco Lindores Yuri
"jim yury" Discussed on 77WABC Radio

77WABC Radio

03:32 min | 7 months ago

"jim yury" Discussed on 77WABC Radio

"They sounded to me like the guy at the barbecue spray and the lighter fluid on the cold and can't get it started. And finally just which is made by the way, finally just emptied the whole can of lighter fluid on it to get their inflation And I think that you You have to structure somewhat of a portfolio with things with dollar hedges. I have platinum. I've gold of silver. I have this ST Joe's company That was Florida real estate. And yes, I have Bitcoin in all those things kind of fit in together if the dollar starts to decline precipitously, which I think it has already. So this is that yet the Dow's off 10% from the highs, but it's still In its long term trading range. But but but 10% against the euro and the yen, which is which is also currently you nose with huge debt loads, just like the dollar so measured by the dollar Insect index is one way but I think it's a lot But measured by the Bitcoin $2 crashed a man. All right, that measured by lumber the dollars Plus, I just thought of that right now. I don't know what that means. So I could take a break, but I want both of you. A little investment Vice Jimmy area. Would you advise people to buy Bitcoin? Yes, yes or no? Yes or no, I don't know what I do. I have Bitcoin and I keep it as a dollar hedge, And I think it's a good idea. I'm very comfortable with that. David's Bronson by it or not, yes or no up or down. No, no, no. I'm not worried about the voice of prudence. What you guys? No, No, It's so interesting. The voice you old unhip people. That's the young and you know that girl like me. Look, I'm very hip. I'm the hippest 73 year old Ryan, but I have I got to get my old power. Bi Cabe, Brian Kelly on here. He was an early early early. Oh, yeah, He's a man and he's terribly bright guy, but I'm just saying, See, David. Is a wealth manager David you're looking after people's long term financial interests right, which is a good thing, and that's for your expressing Strong degree of caution about this Bitcoin. Jimmy Aereo. You're more on your own. I mean, you have big client book. I'm not saying that. But you're more short term oriented and the Mo mentum is up up up in a way. Yes, But when I was speaking just then I was speaking more in terms of my longer term book. And I think that having some dollar hedges on is somewhat cautious. And I'm not talking about putting half your money in the Bitcoin at all. I'm talking about having small amounts of things that might rally if Cavalier currency policies persist. Cavalier currency That sounded good to me. That was. I don't know what that means. But that was a great line. Thank you so much David Box and take us out of this segment. We're coming right back. My Jim's point, having dollar hedges, but to make the point of how incredibly un cool this 47 year old wealth manager I like I like Procter and Gamble as the dollar head like that. You win this round. I'm worse. I'm worse. I would be buying index funds Exchange traded funds and never look at them until I retire. But then again, I'm never gonna retire. All right. You got the best of the best. David Bronson and Jim Yury. Oh, we're talking. I guess we'll get back to stocks for most. Talking about Bitcoin and the Biden rally in the stock market on my Lord, I'm kinda love we'll be right back, folks. Please stay. Numbers mean much to me because of prostate cancer. I'm Johnny brags the number two from my stepfather who died of prostate cancer..

David Bronson Jim Yury Jimmy Aereo David Brian Kelly Procter and Gamble Ryan David Box Johnny $2 10% Jim both Bi Cabe Florida 47 year old David's Bronson 73 year old half Bitcoin
"jim yury" Discussed on 77WABC Radio

77WABC Radio

08:33 min | 7 months ago

"jim yury" Discussed on 77WABC Radio

"Trillion, just as they did last year late last year with the 900 billion stimulus package, etcetera, etcetera. The market. Really love all this spending stimulus is that part of the deal as well as zero interest rates from the Fed that love is probably the wrong word to you. But first, it's so good to have you back by the way she would be remiss if I didn't say that. Thank you very much for having me on And I heard what David, you both just said, and I agree with a lot of it. I think the market is is forward looking in it, and it likes the fact that we're coming out of this, you know, dark period regarding the economic ramifications of lockdowns and things like that. But on the same week that That Jay Powell spoke. And he I paraphrase, he said he's not thinking about thinking about thinking about raising rates. It's the kind of the equivalent of not shooting to see the whites of the eyes, but even more so and then you throw in talk of the $1.9 trillion Simmons packaged and, of course, the market is going to respond positively to that. But to me the reason I would take the word love out of it because it seems like it's almost the hideout. From what the market's thinks is somewhat of a precarious dollar position. And if you want any proof of that, you know that I mean you just Bitcoin when Bitcoin rallied up to 20,000 back in 2017. That was because of some weird religious orthodoxy regarding the technology. But now bit coming up 500% in the last You know, eight months is definitely has an element. Of worrying about, you know, Cavaliere currency policies. When you talk about a $1.8 trillion spending package continued lock down the gate again. We're coming out and I have a more positive than I'm sounding right now. I'm just trying to be the load of the counterpoint. But I still like the stock market, but somewhat from those more nefarious reasons than you guys were talking about. Well, I nefarious side. I'm going to process that. I want to talk about this Bitcoin stuff and crypto currencies. This is a big story, David. It's a very this is a more important story than my opinion. Then then the Robin Hood story, which I think was I won't say much ado about nothing but you know So what? Okay, stuff goes up stuff goes down Capital calls margin calls, But the Bitcoin story with, uh, you know, Elon Musk is buying Whatever he's buying. I don't know. He didn't buy a bit corner. Did you buy Bitcoin? I can't remember. Dodge Coin does Coin producer just Justin told me. But I like you on musk. I I got to know him pretty well now and my my house 10 year, and he's a very smart man. But David Bitcoin and crypto currencies are here to stay. And what does it mean to you? I think there's this huge confusion about the difference between Bitcoin and other kryptos either becoming legitimate means of exchange or not, versus the value of Bitcoin because I don't think those things are the same. And I think what's driving the value is not the potential increase of exchange, which, right now, for the most part, it has very little. It has a lot of use and utter criminality. But other than that pretty limited But look, it's expanding. But see what I don't get. Larry is how people don't see that the expansion of the utility Undermines the whole thesis. If all the sudden it becomes mainstream, that it's inviting regulation, the Fed is going to be getting involved. Congress gets involved. There's no way you can have Jamie Diamond and even Muska liking it. And all the people that have Dr have driven it up. Liking it. Those two things can't co exist. I'm very skeptical of anything that when the people who are buying it don't know why they're buying it that it's sustainable. Well, let's just stay with this. Let me I want to get Jim Euro and again too, But let me just ask you following on this Um The Treasury Department in our administration, the Trump Administration in which I served wants much more reporting requirements. About who's transacting. On who you are, And for the reasons you mentioned, incidentally, some of this stuff, eyes involved in criminality. Not all the Lord knows now, some of that, on the other hand, if if, if the old Melon Bank whatever it's called bank in New York Mellon If they're accepting Elektronik deposits via Bitcoin, musk and others. Air accepting Bitcoin is payment, so this is for real. This is different than digital currency. There's nothing behind this right. There's no gold is no commodity indexes. There's no Federal reserve, There's no central banks. There's a Blockchain there to enhance transactions as I understand it, But is this the wild West? Or Is this something that you know, ordinary folks? Should be using Well again. The problem, I think, is that empirically we've already seen it go down 80% and then back up 400%. So this idea that it represents us more stable substitute to Fiat currency and particularly U. S. Dollar is silly. People have a heart attack when the dollar dropped 2% of trade weighted basis That's a really important point. You're right. No, I totally agree with you. I think I think that what we're going to have to see is when this other regulation comes in, You know, First of all, they say, a public company like Tesla this week put 1.5 billion. You know, they have tens of billions of corporate cash. I think this was like 5% of their Treasury. But then how did a mark that on their books is? The stuff goes up and down against Mark like a security not like cash. Equivalent so gets regulated. And I think eventually that argument has been approved to not be real sustainable. By the way, Jim Yury. Oh, just on that brief point that David mentioned at the end, the SEC wants to regulate Bitcoin because they regarded they regardless right? Yeah, they regarded as an investment. They do not regard it as a currency they regarded as an investment. And I think at this point, there's some logic to that. But the Bitcoin and crypto currency supporters who Jim are more rather more libertarian, If you know if that's fair, and they don't want a government regulation fact this is a revolt against the government and central banks. So now here you are in Chicago. You know, trading futures Stocks, Bonds Come eyes every darn thing in the Earth. Fabulous commentator. What's the Bitcoin story as you see it, and what's the crypto currency story? As you see it? Well, 20 that, David said people buying big corner don't know why they're buying Big Clinton. That was me. I'd like to think I know a little bit more about it. Now. The fact that the government's Our particular government hasn't come down and tried to regulate it up to this point just blows me away. I don't understand why they wouldn't. I can't imagine any government on the planet wants a system of at this point now and David, right? Completely right now. I think people are viewing in a store of value, and it's being legitimized by a couple things by the Sea and me, the Chicago Mercantile Exchange launching futures on both Bitcoin and now a theory, Emma's well by companies like the camera for the big insurance company that bought a ton of Bitcoin. Castle buying a kind of Bitcoin. So it's being legitimized the store value, which is absolutely an impractical exchange mechanism out, But the orthodoxy will tell you that that's being worked on. But I think the next big plunge in Bitcoin is going to be when the government all the sudden decides to roll up his sleeves and try to figure out where they're cut is going to come from, and that's going to knock a lot of people out now. My people who are the zealots. The Bitcoins outs will say that they can't do that. They can't because it can easily go into a much more kind of mysterious, dark place for exchange, which is, you know, obviously place to the criminality portion of it, too, And that is and they will point out that countries that have made Bitcoin illegal in those places. Bitcoin trades at a premium, not at a discount, so and where does it fit into everybody? Well, I gave a speech of the New Orleans investment conference back in August, which was entitled If you're hedging dollar risk, and I think that as you look going forward when you have a fed that wants to zero out interest rates forever and keeps talking about how they're going to spur inflation, because when I hear James Bullard and Jay Powell talk to me, they're so frustrated. They couldn't get inflation..

Jim Yury James Bullard 1.5 billion David Justin 10 year 80% Jamie Diamond 2% 500% Jim Congress Chicago $1.9 trillion 400% Larry Simmons Tesla last year Elon Musk
"jim yury" Discussed on 77WABC Radio

77WABC Radio

06:21 min | 8 months ago

"jim yury" Discussed on 77WABC Radio

"I did this thing and the dude's everyone encouraging me to say so. I wanted it. I didn't want to do the offer, but I had Great respect will have tremendous respect for what I call the Shakespeare of America, which is the great American Songbook. So I asked a friend of mine. Bob Cavallo used to manage Prince and Earth, wind and fire. He was the head of Hollywood records. Disney music legendary manager and legendary producer of films 12 Monkeys, Lot of films but great guy and a good friend of close friend of mine. I said Bob, I want to get back to the music. Who should I study with, he said. Blah, blah, blah, Gary Wells. So I started to train. Yeah, Call them for me. I started to train every day. Then I did a demo Capitol records of four songs with a band. That's funny. You didn't I capital. Did the demo at Capitol Records? Yeah. With that Sinatra microphone. I played it and what was what happened was the head of capital Polish Salvatori. Books, everything. They're basically runs the studio. Was telling, and people heard like the great Al Schmidt. And the great Still, Ramon heard about a place that my film was the best. Yeah. Right. And then Wallace, who was one of the engineers along without Schmidt, and so they heard that I brought the demo to, uh Bob Cavallo with Disney, he said. You want the truth, you know, almost sarcastic because he's very pragmatic guy so and so he called his head of marketing down. He came down, he said. What do you think it if the 30 seconds of listening to guys said, Let's do this, And then Bob called the head of Universal Music. Jim Yury at the time? Yeah, and I had lunch with Jim. They played in the demo. And then I want it doing the whole out. This is good. But did you go to Mr Sinatra? First? I remember when I was a Saturday night Live the first thing I did, and it was a comedy version wasn't like you guys see Robert Davi and concerts phenomenal whose strings with everything with his strong voice that you hear on the radio with me Now, Joe Piscopo a W A. B C with the great Robert Davi. But when I did him on SNL, Robert, I wrote him a letter. I said I hope you don't mind. This is all done with respect, and we're just having fun with it. And he was like my best friend. After that you had to check with the Sinatra family before you went on the road. Yes. No. What happened? Was this What? What happened was the I did a film with Frank in 1977. My first film called Contract on Cherry can't bury way in New York. You shut that with the old man. Project. What does a legendary Frank Sinatra television, But this is great. So you've got to know him a little bit, Robert. Very well. No, no, I got it. Got it. Got it in a second. This is go anyway, He really respected me. And there was no reason for me Joe to do the American songbook. At this time. I did not want to do it when he was alive. It was he was there. Who else is gonna do it? You know, I mean or Sinatra. Thank you for six. I thank you for saying that because a lot of cats go out there they do. If they don't get it, they don't get it. There's only one Frank Sinatra, right, right. Right. There's one Frank Sinatra, you know, So the thing of it is, and so I had the You know the film career like he had a big film career I didn't have imagined I had. You know my own film career, but I still was in that and played edgy and I had a voice. I studied opera like he had. We had many conversations about Gustav Mahler and symphonies and music. He loved the dog. Wow, who stopped Moloch and also with Frank Jr. You know, but anyway So I when he passed away, I felt there was no one You know some great guys. We're doing it. Michael Boo Blay and Raj do it, But no one had the film presents nor the swagger of what Sinatra represented to the Italian American community. Into the world in terms of his and some books were coming up by people that would bad mountain which got me angry. I won't mention the names of other singers that had mentioned certain things and I wanted to pay tribute to Sinatra. In terms of his Picasso, his contribution to music and the Great American song Well said, So I did this thing. The album went to number six Billboard jazz. I did it first concerts on Long Island and Hops University to see if I could do this thing to follow came on. We did three performances thanks to Bob Spio to and they were sold out and standing ovations and successful and then the rest was so you know, putting the thing together. About the song book and then touring the world. China, Australia for the United Nations, Estonia, Latvia Sweet Budapest. Finland, Italy was the Italian guest artist on the Italian version of the voice. Just amazing, Robert. I gotta I gotta ask you and I know it's it's amazing if you look, by the way you could see some of this on video, you Google, Robert Davi. So you and the old man you are, Mr Sinatra. That's my money. I got to hear the stories and you know, and, uh, we got to keep it clean. We're live. So you know everything free except one little thing I said about the sperm, but that could be Thank killing me. Would you deal with me, huh? Wait. What? What happens is that happens is I'm doing the film Cherry Street. Now, Harry Guardino. He's a great friend of Sinatra. Did you know Harry? No, I didn't. But what a great talent man. Harry was one of the funniest men in the world. He would have Sinatra and fears he literally you know, this is when Harry first met Frank. It was through Jilly Rizzo, and you put on a waiter's jacket at Jilly's the Wrong way. And he kept trying to get Frank's attention. And he wasn't getting his attention. Really? Not over a glass of wine, Frankie. What the hell is wrong with you? I'm sure Harry with the jacket on backwards. It starts to crack up that night. He took him to Vegas. That's not the Vegas trip to the font on blue with him, He said, I don't have the clothes. You should let me Let me Don't worry about the clothes were leaving at eight o'clock. They left. They went there. He had a rack of clothes You have to tale has come in. For Harry. Oh, my cash. Franco's Harry was his protege, right, so they were busting each other's chops. These guys have the best sense of humor in the world. So Frank after he does his shit. He gets up because I want to introduce my protege because he was teasing about singing..

Frank Sinatra Robert Davi Harry Guardino Frank Bob Cavallo Bob Disney Joe Piscopo Al Schmidt America Frank Jr Gary Wells Jim Yury Hollywood Jilly Rizzo head of marketing Gustav Mahler Polish Salvatori Universal Music producer
"jim yury" Discussed on 860AM The Answer

860AM The Answer

05:28 min | 9 months ago

"jim yury" Discussed on 860AM The Answer

"Welcome back to the damn cross show on Jim Yury Oh, sitting in for Dan today. Now we have Casey Mulligan, who's a professor of economics at Universe Chicago when he served as chief economist of the White House Council of Economic Advisers in 2018 19. And he's also the author of the recently released You're hired untold successes and failures of a populist president. Welcome, Casey. Glad to join you. Okay, good. There's a couple things that I want Impact, which I read the recent article of yours about how economics help down the pandemic, and you talked about the regular regulatory process being streamlined and it much easier to get approvals. Today. I had a difficult time ascertaining the tone. You think that's ultimately a very good thing? Correct? Yes, I mean, that's something we've got in our profession for for generations, said the FDA especially made it very hard to bring new treatments and new cures. To the market. And especially the pandemic. We don't have time to wait. So so let me ask you this now does it like Is there a part of you in your head? That worries a little bit that because I know there's people out there who think well, this was this was rushed through. This was rushed through. Are we just talking about eliminating all the dead time? All the government bureaucracy and actually getting down to the evaluation of the new drugs treatments vaccines quicker, So there's really we're not losing anything in the in the quality of the research. Yes, that's what they did in the warp speed. They didn't skip steps. I think they should have sticks Skip steps so we could have been doing vaccine much earlier. But they did not skip steps, but they gotta run red of the dead space. They allowed some steps to be done, simultaneous instead of Sequence. And that's why we got the vaccine and six or seven months instead of 18 months, like the experts were saying, OK, speak. So like what? Who's responsible for the changes that have been made along the way and the regulatory process in order to streamline this, Or was it just the pandemic itself? That kind of kicked everyone saying, Okay, we got to get going because things were really genuinely hang in the balance here. Was there something that happened pre pandemic. I'm sure there was both definitely before the pandemic. Nice. They said that it's been understood that these approval process is for too long. And President Trump. Had worked hard on this soon as he got an office. I don't think he knew a pandemic was coming. But it's not just pandemic treatments that were slow and particularly, he promises campaign to lower prescription drug prices. And one of the things we told him said, Well, one thing that makes drugs expensive is All this approval time. And he put in Scott Gottlieb, business person commissioner there and Scott immediately. Hold out and streamline. A lot of the processes for approving in that case was generic drugs, So there wasn't anything new. It's just red tape. And we saw actually the stocks of some companies crash that had gamed the system because they weren't gonna be able to overcharge consumers for generic drugs anymore. The president really learned from that he realized that number one you get results this way, And they also learned some of the bureaucratic maneuvers. You know, it's not easy to turn a bureaucratic ship, and he learned how to grab their way on, turn it. So when covert arrived He was ready to turn the ship again that that's a really interesting way You put it, cause I remember at the beginning of the pandemic and people on friends of mine and left were just just hammering Donald Trump on the fact that he either Cut funding to the CDC or talked about one cutting funding to the CDC. After time. I know it is, but you're saying that his movements he made prior to this actually were really good for how this has worked out. That's what you're saying, right? Yeah, He knew what had to be done, and he had practiced it. It's one thing to know and then, but you're doing it the first time. But this is not the first time he was streamlining approval process is, in fact is not the first time. He had looked at approval processes per pandemics. We had also done a report for him and he was so excited. He made an executive order around that in 2019, so cold was not on the radar. But we said, you know, pandemics do come every once in a while. We need to be ready and the number one way to be ready, the president said, is fast vaccine. So he had already laid the groundwork test for for this whole thing. Okay, So now when we talk about dr anything Fauci and the role he's played when he came on the scene, I was Very pleased this scene. Italian Americans position like that, but none of questions. Some of things he's done. Do you think this and this has to be a short answer before the break, and then we'll take it up again, But economics vs the medical handling of the pandemic. Do you think that that was ultimately mismanaged? You think the people were making decisions were just focused on medicine and not focused on the economic damage. Yeah. In fact, they were focused on just a narrow part of medicine, ignoring economics and most other medicine. That's okay. And you think that's ah, enormous source of frustration and should be for the American people correct. Yeah, we all have all experienced it firsthand. I'm afraid. OK, good. We're gonna take a little break here. We're talking to Casey Mulligan, whose economic professor of the universe Chicago, and you should be on the Council of Economic Advisors. And I'm going to to press him on my daughter's application to the universe. Chicago and what he can do to get her moved ahead of line. I'm just kidding. I'm not gonna do that. I don't want to end up in any sort of jail with Who was the lady from the full house who paid for her daughter to get into us, But we're gonna take a break. Now we'll take this up again in a.

Casey Mulligan president Chicago President Trump Scott Gottlieb White House Council of Economi Jim Yury Oh professor of economics CDC Council of Economic Advisors chief economist Dan FDA executive professor commissioner dr Fauci
"jim yury" Discussed on 860AM The Answer

860AM The Answer

06:26 min | 9 months ago

"jim yury" Discussed on 860AM The Answer

"To expose the political fakers, fixers and takers to help you make sense of it. All That person is damn Croft, and this is the damn profit show. Welcome back to the Dan Cross Show. This is Jim Yury. Oh, sitting in and we have Jeff Kilburg, Who's the CEO of Cake and Financial? Also CNBC contributor. Jeff and I have done a lot of work together on CNBC. He's a futures trader, market analyst. And you guys, not from the Midwest. I'm not sure this joke broadens out to the whole country wide. But around here we everyone. You know how you can tell someone went to Notre Dame because they tell you within the 1st 10 seconds, So I'm just going to get that out there real quickly kept with the Notre Dame and did play football there for Lou Holtz. And we are gonna talk about sports a little bit in this talk to Jeff. But first we're gonna hit finances and I want you let's start really broad. And let's look out to 2021. What do you want here? Let me put it this way. Over the last eight months, One of the themes been pushing equity markets, particularly or any other market. You wanna talk about it? What are the themes that are pushing it today and then out in 2021? What's going to be pushing financial markets, particularly equities? Well, Jimmy always great to be out of my friend. Yes. Would you go back over a decade, talking markets, arguing flight debate but also give each other some jazz and having a hard time. That's what we do. We bust chops, but being here in Chicago, you know It is an extraordinary year. But what we've taken away from this year Jimmy and 2020 giving interesting. Let's go back. We'll think of the history here. What happened post recession post, 2000 and 2009 months. The great recession. We saw a lot of Passive index. If you're just long yesterday, if I were you did Okay. And now all of a sudden in 2020 things have really changed for all the reasons we talking about. We're not gonna talk about obviously having to wear their pandemic on hand. I think you know that one, right? Jimmy 2020 is that If you have proper exposure to certain sectors, I think that's been a winning recipe. Maura Important. Do you see the way from some of the sectors if you have not? Had exposure. Some such is that also has been part of the winning recipe. So we look at some of the sectors that continue to prevail. We talked about Tech tech still his number one. We run a lot of each model portfolios not to get too wonky there. But while we're trying to do is figure out Where there's relative strength, which secretary veal in strength and more important with secretary thing weakness, So we talk about text. We talk about medical devices. You talk about home construction. These all kind of some of the sectors we can unpack and talk about some of the specific names that are inside of these each. Yes, but we understand that energy has been one of the worst sector's year to date financials that really struggled and figure banks. They're finally get a little bit of optimism. But my point is Talking about 2020 That really sets up 2021 for Jimmy. We see a lot of the sectors we see. A lot of the themes that worked in Troy 20 persisted in 2021. If agree, or disagree with the federal intervention, the Federal Reserve and all the money that they have taken their balance sheet in a dramatic increase in size ability to help support market. Believe that or not, Jimmy, this is what we're going to get the embrace that you have to have the proper sector exposure to 22. I want to try and seek to produce Alfa. So did you just say that producing Alfa is attacking energy are too that you like a lot and let me put in a denim on that question to you talked about relative strength and tech has been I mean to call it. Relative strength is an understatement. I think that you know the stay at home trade the flock to the stocks with good balance. He trade just boosted those techniques of Yeah, they have relative momentum to everything else and relative strength. But at what point time does that become stretch? Meaning is there at some point, I'm going to be Ah, great rotation out of those names that were the pandemic names, and you know the six names I'm talking about Amazon Google's You guys can fill in the blanks into the broader market. The smaller stocks, the Russell well, look, I know you're much older than me, Jimmy. So sometimes You didn't take it now when I talk too long, so clearly, I went too long. And he did not. She does what you're running from that I don't even I don't think you even said anything. I was like, What do you want? One of my buying here? Kilberg Energy is not effectively on if you would have paid attention, But technology certainly is. So we look at the tech sector by large. You know, you can look at that broader exposure. You're looking xlk that that's what you have to like to talk about. But Tech? Certainly we're relatives say perspective is the number one on our models. Number one for a couple of years, and I think you bring up a great point, and this is really important for active investments understand what the market cycle has been doing. So when you see the thanks, Doc, we talking nauseam about the things that his Facebook it's Amazon. It's Apple. We took out Netflix folks we put in Microsoft and, of course, last week's Google, but those paying stocks Make up nearly 25% of the S and P 500. So where those stocks go, the market goes And on top of that this gets a little bit tricky, but their market cap waited. All that means is the apples of two Children. Our company Amazon, the to turn our company, so they are weighted Maura and that tech Vendex. If you look historically, going back the last five decades, Jimmy an equal ways Judgy longer term will prevail over market cap. Alicia, No matter what your strategy, your approach to the equity markets are, so I think it's this moment. Time you have to consider maybe dimension, summon exposure, not walking away from Tech by the gifted mission from exposure in some of the names that we're looking at are some of the chapters I should say we're looking to rotate into are some of the laggards of 2020 looking some industrial names looking somebody consumer cyclical name. They're really fell out of favor. We stock over 19 years the marketplace. So are you. Are you saying right now? That you believe 2021 Let me let me I'll tell you what I think you said, and you tell me if I'm right that 2021. There's going to be a movement toward like actual growth, the coming back online. Of the U. S economy. Now do you are you s Oh, I got that part right now. When you look at your thesis to I talked about Earlier in the show about how I believe one of the biggest themes is that government spending zero interest rate policy you just a ton of being propped up by the government keeping rates low. And forcing money into risk assets. Is that a broader theme that you agree with his well 100% of Cambridge United agreed on something, Jimmy, but yes, you're absolutely spot on it. It hurts me to even say your spot on but you hit the nail on the head, and that's the whole component..

Jimmy Jeff Kilburg Maura Important CNBC Amazon Midwest Google Jim Yury Croft analyst Chicago Federal Reserve Lou Holtz CEO Apple secretary football
"jim yury" Discussed on 860AM The Answer

860AM The Answer

05:36 min | 10 months ago

"jim yury" Discussed on 860AM The Answer

"Did you see who's heading up the com shop, putting the band back together everywhere on the foreign policy front and the economics front as well as in the coms front? Also, this from the Babylon be the paper of record for this Biden administration. If there's to be one Biden all female communications team won't tell the nation. What's wrong. Nation should already know. On the economics front, Neera Tanden being described as the head of a center left. Organization called the Center for American Progress, which is not center left. There's nothing center about it. It's just hard left she as a lot of interesting she's been tapped to be the Office of Management and Budget director. She does not worry about debt and deficits. She basically said that any concern for the has previously said any concern for the dad is mostly tactical. She's also a climate obsessive in October of last year, she tweeted support for proposal with Sector specific deployment policies. Trillions of dollars of direct federal spending economy. Why price on carbon mandatory emissions reductions and communities historically overburdened pie pollution. And so on and so forth. She has drawn some criticism from the left as well. So maybe she doesn't survive a Senate confirmation. We'll see but much another unifying figure that will punctuate a potential Biden administration as well as the old Obama economists. You know, you've got Captain Kangaroo was going to go to Treasury and he got Jared Bernstein, the Architect of the Obama stimulus, who predicted that that rather modest bailout by today's standards of $750 billion would push unemployment rate below 7% by the autumn of 2010. He was Off by about 60%. It was a 10%. At that time you have other cane's Ian's of various stripes and climate tinkerers and central planners and so forth that make up this team. So you're going to see a massive spent by the way you also have one. Just f Y I because she's gotten some some profile. Cecilia Rouse. She would be his point person for the White House Council of Economic Advisers. She's from Princeton of the Candian from Princeton. She has focused in part Subjects like education and the labor market, and she her research is skeptical of the benefits of school choice. She's a school choice opponent. Just factoring that in his well getting into education policy at the federal level in terms of the 1 80 that you would potentially see from Trump to Biden for more on this. We're pleased to be joined by CNBC contributor Jim Yury. Oh, Jim. Thanks for joining us again. Appreciate it. Thanks for having me. So what do you think of the this a team of best and brightest that Biden has assembled so far? Well, she said that deficits don't matter. And if you turn the question me and saying, Do I think that if this matter it doesn't matter what I think Bitcoin is screaming at us right now that deficits do in fact matter, as is the gold market, and you can even throw in that stocks are as well. That's part of the whole team That's been going on these last seven or eight months is that if the government and the federal service well is going to be cavalier with currency policies, which they absolute We are. Then you have to find alternatives for a weaker dollar. And the dollar's been on a one way path low, not just measured against the basket curtsy because that's you know, that's measured against other currencies that are engaged in the same sort of malarkey loved. I wanted to use malarkey there, Bam and think I nailed it. I think that makes me hit you very biting. Very 2020. No, but I think Involved in the same sort of things. So that's not even a good measure of the dollar. The dollar is definitely going lower if you give a broad measure of it, and in that measure, you have to measure against things like Bitcoin gold silver things that people are using his proxies for CIA country. But the point is that like, she said, right now, deficits don't matter. That's the only thing I would say if we had a government that was did not have Kavaler currency qualities. In normal times. This would be a time provided that they are definitely putting these, you know, Draconian policies. Toe lockdown, people first. Tended periods of time. It was the right time, then to make up with that with extra spending. As long as we're confident that that will go away as we come out of this. I'm not confident of that at all. And neither is the Bitcoin market. So it seems to me what if you're thinking about staying in the market or putting all your money in Bitcoin? You stay in the market if in the short term, perhaps under the thinking that look, we have rent seekers all around a Biden administration. We have a spendthrift Congress and we would a white House of Biden is installed, and so they'll prop up. I mean, you know, corporate the corporate rent seekers combined with the profligate spenders in D. C. We'll continue to prop up this market until it collapses, and I'll bet that it won't collapse for a little while yet, so I'll stay in and expect to see the averages continue to bump up. That's been here the whole time, too. But I'm gonna throw in something that might not be the most popular thing on this show. And in our circles is that the Trump administration was Spencer Estas? Well, I mean, they racked up a tremendous amount of debt in time where it didn't seem like they really needed to. You know, of course, our economy needs ah lot of government spending and low rates just because of over Regulation that stat four different levels with I've never seen that is clearly as I have with the restaurant that when we bought it eight years ago, just being regulated by the federal government, the state the county, the local town you that makes small businesses and and I assume medium and large sized businesses to based on my experience is difficult to really navigate those waters. So do the Dutch economy needs. To be pushed along by the Fed and buy extra government spending, and that's always ends badly. It just takes a lot of time..

Biden Obama Neera Tanden Office of Management and Budge Center for American Progress federal government Cecilia Rouse Trump administration Jim Yury CNBC Princeton Senate White House Council of Economi Captain Kangaroo Fed Jared Bernstein Ian Trump
"jim yury" Discussed on WTVN

WTVN

07:03 min | 1 year ago

"jim yury" Discussed on WTVN

"Joined now. By Andy Field. ABC NEWS Washington The There's a bit of a tiff, Andy, I guess between the World Health Organization and the American Dental Association. What do you got for us? Well, they're telling you not to open your mouth wide and say on that is, ah, that seems to be what they're worried about is when you go to the dentist, the probably the least the pleasant part of it is when they started drilling and Little sparks and particles come flying out of your mouth and they're worried about that Spreading cove it of not only from you to other patients in the air that baby in the officer to the to the Workers in the office. And so they're saying that only essential dental procedures, things that are emergency should be taken care of. A CZ. You would imagine the dental American Dental Association and Dennis across the country are none too happy about this right? They have actually put in quite a few procedures, including what they call Haifa loss for the section, so that while they're drilling and doing things all that stuff is getting suctioned out of your mouth and they're going flying in the air. They They put up, uh, plexiglass partitions. They're using face shields. They're doing everything that pretty much any other medical professionals doing whether they're an emergency room and surgery and elsewhere. One solution to this would be something that just doesn't seem to be getting done in many places. So that is I have better testing Have those rapid test so that when you go into the dentist, everyone gets tested, You know? Well, no one has called it. We're good to go. They're doing him. Some states. My daughter lives in California. She's been tested five or six times. In various situations because she works in the entertainment industry. And you know, they have to make sure that the actors and Andi studio crews can actually be safely with each other. Sure, it's very It's very easy to get tests up here. It's not as easy to get test here where I live in Maryland. And some other places. So that is one solution, not just for for the dentist, but for schools and everything else that want to reopen. Well, I got to imagine if they're going to be drilling and stuff than that goes beyond routine dental work, right? I mean, if you got a cavity or you gotta have some drilling done, it probably is something that needs to be addressed sooner rather than later. I'm thinking Yeah, but there are people who put this off. There's also cosmetic surgery for putting caps on your teeth for or ah doing or the Dodger work where you're tightening things, and you have to move things around. So There's a lot of routine stuff and and even if you cleaning teeth, you're you know you're using those devices together, tartar and stuff and you're going to get aerosols there. Were you able to get in handy before before the cove? It really took over. I was lucky enough to get my last cleaning right before this stuff really hit the fan. Same thing happened to me. I actually keep clean. I think February 15th And you know, it was one of those Get in there. We're gonna ultrasonic all that Carter away. You said you were. So you lie to the dentist to Andy Field. Everyone does. And you know, it was great. You walk out of the dungeon. Wow, Boy, I gotta I gotta floss every day until maybe you know the day afterwards. You forget and kind of cutting down on the sweets as well. Yeah, that's all right, Andy. Thank you for the insight today. Andy Field ABC News in Washington. He's not right. I'm telling you right now it's easier to quit smoking than it is to start flossing. I'm telling you, man, I swear people it is not I would. I would argue that you have a rival cave of successful chance of quitting smoking, and they will starting to map it. I was a heavy smoker for you. I smoked two packs of cigarettes. Today. I finally kicked that habit. Probably about 23 years ago. Believe me, flossing your teeth. Isn't that hard? It's just not job, people. Good God, that that is the epitome of laziness. And if you can't flaws, especially now you've got these stupid floss picks that all you got to do is Jim Yury and tie it around his fingers in maneuver. Have you took a look around? Her country. Dave Laziness is the new patriotism the way people treated so I take it. You don't floss daily? I don't floss daily. No, I don't know you floss at all. Of course I sometimes you every day, a few days. You gotta like God get down on my teeth or whatever. But I'm not flossing every day. I'm not gonna pretend to floss every God, you've got a filthy mouth in more ways than one. I I can't stand that. I mean, I know that I feel the food caught in my teeth and I can't handle it. I mean, I floss before I go to bed, and I floss again in the morning. I don't know why. Because I haven't eaten anything since the last time. That's just wasteful. That's ways there's no reason to floss in the morning. You know that is that just You've just developed a routine that you're subconsciously going through, I think. Well, I'd rather do that than not flossing all our flaws, you know, like Ron Burgundy on the holidays, And then even then, sometimes he forgets because he's not perfect. I just saying, man like I'm at least honest with myself and there are not what is so hard about flossing. This is not a priority. How often do you shower? I don't shower every day if I haven't done anything like this. No. No shower daily. If I'm glad you're in that room If it's a day that I've been active, and I know I need to shower absolutely, but like there was a deal. No, I didn't shower when we're on vacation down in the Hocking hills on the one day that we didn't do anything. I mean, after the hiking and the sweating. Sure you did that. But on the one day we just kind of sat around, didn't do anything because it was raining. What would I shower for? Cut you some slack there. Okay. Plus, you know, if you watched the movies often, that's where people get murdered is in the shower. You know, in the in the cabin if you're watching, you know, Friday the 13th or something. I could understand you being a little bit cautious in that regard, but otherwise, I mean, Holy buckets. You think you know somebody that's been Rather I opening today, Um, Have you ever dreamt of living in a nineties movie? Nostalgia dream? Yeah, Me neither. Well, now your dream can come true. The last remaining blockbuster video store. This is in band Oregon. It has been converted to an overnight rental property. 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Andy Field Andy American Dental Association Washington officer ABC Haifa Maryland Dave Laziness Dennis World Health Organization Andi Jim Yury California Hocking hills Carter Oregon