37 Burst results for "Stephen Moore"
What crisis? Nasdaq nears all-time highs, defying toll of economic shutdown
"The president has he's noted he wants to see society reopen once see the economy reopen but we do want to do so safely and there are institutions that are put into place the social distancing measures yeah I had to you know we talk about the economy all won the baby get numbers that came and that was up from the Florida legislative office of economic and demographic research yesterday how big was the April hit two fours economy are pretty big we exceeded the the first quarter revenue estimates every month even March where things you know began to hit the skids but in April revenue came in twenty five percent below pre pandemic estimates and the shortfall your every year more than seven hundred million dollars loss revenue for the state of Florida just that one month and it's going to put additional pressure obviously I just on the state's economy but also the budget talk about governor de Santis the judicial nominations to be spring court wife doesn't big decisions on his on his hands here including the budget it was passed at a record ninety three point two billion dollars we are getting I nearly five billion dollars in relief under the cures act but it looks like there's going to have to be some significant budget cutting so we talk about the economy joining us now one of the preeminent condiments Stephen Moore you may call him at Stephen Moore on Twitter as stable we take a look at the economy right now there's been a bit of a disconnect I think with the economic reality purses yeah the stock market for example what do you see what's real and what isn't right now hi Brian good to be with you well first of all remember that that you know people have been asking me this question the last couple days like the stock market doing well when the economy is doing so poorly and and it's the first wall of stock market investing that the stock market is looking ahead right it's like you know what the economy's gonna look like you know two months from now three months six months one year two years three years down the line where are the numbers that you're reporting which are awful just awful I mean we've done significant damage to our economic infrastructure because of this crazy shut down which I think is three Bucks we'll look back and say this was one of the greatest errors and mistakes out of work you know in our nation's history but in any case we are where we are and the good news that the stock market is looking ahead at the Hague there is a light at the end of this tunnel that's why when I get up in the morning you know the first thing I look at is it a lot what is the stock market telling us not because I'm interested in greed of making money off of that making money everyone I'm like you know fifty five percent America that you have money in the stock market but I'm interested in what is one of the investors around the world think of the prognosis for the economy and right now you have a cat big stock plunged another wall we're only down fifteen percent of the stock market for more war before court of Irish ship that's an amazing statistic about a nasdaq is higher than it was today than it was before at the beginning of the year it's pretty wild how much of this though is the federal reserve backstopping trillions of dollars to end and popping that into the markets and then just investors having a place where they want to put their money ultimately so the what I just wrote a column on this the biggest danger other than the you know qualifiers right now is deflation we have we've deflationary economy I know when I see the people of Iraq we have deflation the fed has been poured money into the economy they've been putting a lot of money they've gotten by now stops at even lower interest rates but they need to do more not less that's because if you look at consumer prices they've been falling electric commodity prices have been falling remember what the office which is actually starting to make a recovery sell a lot you know at the beginning of a step back so we do need dot more dollar liquidity some people are gonna probably weren't alive I wish you more say that we've already put so much dollar liquidity in the economy that's because whenever you have an international crisis remember this is not just a crisis night stated happening around the globe the first thing that people buy weapons when you have a whether it's a terrorist event or a war or you know a major earthquake or natural disaster people flat why what we need to buy dollars so there's been a mass rush to buy dollars not bad have to accommodate that by putting more dollars into the economy so I'm I believe that that lack of monetary policy has been pretty much doing the right thing all they need to do more of it one of things we need right now by the way is to suspend the payroll tax you know it's just on the payroll tax right now so that you know you want to get people back to work like a business will help you got wanna give everyone of twenty eight million small business in this country aftermath without reduction okay all cost and then you give every single worker in America some hapless okay right what if your recovery that's the single most important thing we can do is to find the payroll tax
Fresh update on "stephen moore" discussed on Mark Simone
"Simone show. Steve Moore is the one of the biggest best economist in the world. You got art, Laffer Steam or Larry Kudlow, and they've helped the president all along. And if you want to read it first you follow Stephen Moore on Twitter. You can read him at heritage. Get the book Trump a nomics one of the best books on the subject. Seymour, How you doing? Pretty well, How you doing? I hope you have a great summer. And you know, we're in the in the thick of this debate right now on whether President Trump might be able to do this payroll tax cut as a stimulus to the economy, So we're trying to advise the president every day on that one. Yeah, that looks pretty good looks pretty promising. But let me ask you a question for those of us in these terrible, terribly run places like New York where everybody has fled. Crime is now everywhere. So nobody's coming back. What are we going to be going through next year when there's no tax revenue? What these crazy officials you're going to do? Well, you mean in New York? Yeah, Country. Well, well, New York is going to get hit hard. Yeah, it is. I mean, there's no substitute for getting the economy up and running. You know, I was in Manhattan about two weeks ago, and it just was so sad to see so many businesses still shuttered and so many, you know, immigrant businesses, and I saw a report about from New York Crane's about hollowed out black businesses that there's just destroyed. It's time to get things reopens. I mean, New York, the virus has gone through New York. You've got record low cases now. Ah, A lot of mistakes were made obviously in April in May on a lot of unnecessary does, But the fact is, it's time to get things open and I don't care Mark how many trillions of dollars the federal government spans If we don't have our businesses open if we don't have the workers working, you're not gonna have a functioning economy is that simple? Yeah, on that's tax revenue that pays for the police. That baby that pays for everything on E. I guess it's not just New York but around the country, lot of people who can have fled the cities and move to the suburbs and outside the city's. It's happening in Boston, right? So inner cities have really been hit hard New York obviously being the prime example and you know the questions whether people will move back, I might. My feeling is it's going to take Maybe five years for a New York City to rebound to what it once was. That's a long time, I think. Five. Thanks. Yes. Thanks for cheering Well, Some people are saying 10 years. I mean, look, there's a lot of damage. Some people have moved out of New York left 300,000 people since the Court of Anisette I mean, Some of those people moved back, But others are gonna be afraid It's the double effect is not just the virus. It's the rioting. It's the fact that the black Geo did nothing to keep citizens sake, and that has a very negative effect on people's willingness to live in cities, especially Older people who have been have been moving back into the city. So you know I love cities. I love I'm from Chicago. I think it's a great city. It's it's facing a lot of the same problems. ST. Louis Seattle. Can you imagine moving to Portland right now? Now, uh, like mob rule in Portland right now, and Seattle's the same way, so a lot of cities and it's at, say, this market's corrupt liberal democratic leadership and I'm not. I don't corrupt is the right word, maybe incompetent. I don't think the body because corrupted, he assist incompetent and that that leadership matters. New York learned that lesson number. On the Rudy Giuliani When you saw incredible rejuvenation of that city, and I just it breaks my heart to see New York sliding back to where it was pretty, Rudy. Yeah, You know the problem Thes de Blasio types. These progressives, for instance, the leaders of the Broadway community went to him once and he said to them. I'm not interested in Broadway. That's just a bunch of elites that go to see, you know, and he dismissed them. Not realizing they bring in about 50 million tourists a year and that ripples out into all the restaurants, hotels. He had no understanding what that does for the economy of New York. What we must help you're right, American. I know personally and I don't even live New York I know. At least 25 people who are employed in the in the Broadway shows and doing music and On all of the theater stuff, and and those people haven't worked for six months now, you know, and and that's from cooperating. And these are not rich people. Working middle class folks who need you know Broadway, you said, is a major major cultural social activity in New York that makes it into general place to live and for De Blasio to say that all this is just a bunch of rich people, 83 rich people. I mean, it's really insulting to the working people who make make Broadway. Kable. Steve Moore, the great economist. So what's next? A ce faras relief stimulus. What can we expect? So I had this piece in The Wall Street Journal on Monday. That still is getting a lot of attention, especially at the White House, where I argued that President Trump doesn't have to negotiate with Nancy Pelosi that he can unilaterally. Cut the payroll tax for the rest of the year, so every worker would get a seven man for some pay raise. So raise your hand if you don't want to 7% boost in your paycheck Starting next paycheck on Trump doesn't need congressional approval to do that, under an emergency situation as we're in right now, the president has the authority to suspend federal taxes. And so I've been urging Trump to do that. He is very interested in it. Meanwhile, they proceed with these negotiations with Pelosi. I feel very strongly that they cannot go forward with the $600 a week unemployment benefit, not because I want to be stingy, but because I think it's having a very negative affect on working. I mean, you've got a situation now we're in many states. Workers getting more than double what they got when they were working. So in other words, the government's unemployment checks for twice what you get for returning to the job. So guess what most we have 25 million unemployed people in this country today and yet, you know what the biggest problem for small businesses today Finding workers. Any workers. You know, I talked to my friend who owns a construction company says I can't get the people back there making more money watching TV. I don't talk to people who own restaurants. They can't get the waiters. I talk to people. You know, one working, you know, Bun factories. I mean truckers. It's a It's a real problem. And economics is all about incentive, right Mark and incentivize people to work and pay them or the work will work. And if you paid people more to stay be unemployed, though, stay unemployed and Pelosi so you don't care about Or people? No, wait a minute. I don't think it's fair. I bet most of the people listen to show would agree with me. It is not fair that somebody's working hard, a nurse or a doctor, a sanitation worker, a construction worker, or, you know whatever it might be, and they get paid less than the first time government unemployment folks, That's not there. You know, I hate to say we're out of time, but it's always great to see everybody should go read. Well, A little Well got started a little late, but we'll do it again soon, but everybody go read Stephen Morris article is great piece in the Wall Street Journal on Monday and make sure you get the book Trump a nomics. It's a very good book on this subject. But the Wall Street Journal piece and follows Steven Mohr on Twitter and Read him a heritage. Steve Moore. Thanks for being with us, Mark, it's good to be on the radio with you and I You know, the casualties of this of this pandemic is I haven't been able to see you for expense. Six months since we had dinner together, so I'm looking for Miss Alert. We have the zoom calls. All right. Thanks for being with us. Take care. O every check out the Web page. Got some great stuff up there. Hey, this new Oprah show That's that's a little weird. This Oprah show. Take a look at it. This is Ah! Ah! Greg Kelly put together piece of I don't know what this new Oprah show. Take A look at it. Also, Here's another great Regis Philbin. Moment is.
Trump should have implemented lockdown in sanctuary cities, not entire U.S.
"The great Stephen Moore is with us online ten Mr mora from the heritage foundation and working for Donald Trump welcome to the show so this is what you're after eight ten Steven with breaking up we're breaking up on the on the cell phone Mister Moore can you hear us I can hear you loud and clear can you hear me yeah now I can't okay let's make it simple for everyone listening to this great show you know what you're talking about mmhm your member the journal's editorial board you return to the heritage of twenty fourteen you are not are you advising the trump administration on the economic devastation that we're living through right now and I'm on the president's economic recovery as for C. endocrinologist about few minutes late your show I was I was commenting on the president's side he just got done with his foster brother Michael he said the last thing by the way was we are going to get this economy help and he said that is my top priority you know I I do think Michael that when we look back at the six months or a year or two or five years from now I think people will say this was one of the greatest mistake our nation ever made I really deal well that's we've been talking about right now which is the virus is not a hoax but the virus is not a hoax but the lockdown of entire societies is a hoax it is so devastating I think most Americans think that we can just go right back to work when this is over but you know Michael every day I get calls that are heartbreaking for men and women who spent their whole life building a small business put every penny of their life savings into it and then the government is right at that you look at what's happening with the lines in places like Pittsburgh and Philadelphia here on the east coast where you have people waiting in line for an hour and a half mile long it's a food trucks because they don't have food because the government take away the jobs it is really so sad that we didn't need to do this we obviously when they take a lot of sticky stuff to make sure people stay safe and we need to keep our home safe and we needed to keep people with existing conditions safe but this idea of just locking down our economy we don't truly the valance dollars of damage that number recoverable it breaks my heart it does let's just never do that god will get the state's open and what's even that's the Stephen fry for seven weeks I've been screaming about first selective quarantines I emailed governor Newsom on it I said at least open the six counties that have no cases fell on deaf ears I said the same thing two of Cuomo's office opened in New York state counties with no cases and they did a one size fits all it's part of the power man this is what you have to admit would you say I wanted you know Michael did you know that about almost half of the counties in the United States almost half of those counties have had virtually zero corona virus now most deaths so what well I'm it's one thing to shut down New York City or New Orleans or subtract out all right dot net but there are a number well over half of Americans ever had a problem with the right why did they lump in all of America with the the cesspools of the cities by the way the sanctuary cities is where the largest a cluster of this disease the largest clusters of this disease are in sanctuary cities would you agree with the data well I'm thinking about that from New York yeah San Francisco yeah Seattle yeah yes Los Angeles yes yeah the downtown Chicago yes Washington D. C. S.
Fresh update on "stephen moore" discussed on Frank Beckmann
"Well, let's goto Lavonia Mark here on the Frank Beckmann Show. Good morning to you, sir. Yeah. I just wanted to make two points, one on Debbie Dingell, whose family has been in politics for 90 years combined. Uh, she tugs at your heartstrings with all these people calling about getting extra morning. I thought what was a very good idea that the president had to cut the payroll acts? Absolutely. And you know what? They are going to take that up in Washington. I'm guaranteeing you were warm or rumblings that that is catching on. Okay, So now if you work for any of the big factories here, stuff they never work 40 hours multiple, always 48 to 50 hours a week. A growth $1500 a week. They only take home nine. You know, are just under nine somewhere in there. They would be $600 more a week going backto work that would cause a lot of them because I know people that are staying at home. Because they're making more money staying at home, but they would go back to work, knowing that they could make an extra $600 a week. Make it $1500 a week. That's a lot of money. And that would cause a lot of people used to go backto work would lessen the unemployment numbers. The whole shot, it would trickle down into a really a great thing for the economy. No. Now our buddy Stephen Maura, the official national economist of our program from from Freedomworks. He is on record. He was on Neil Cavuto show on Fox News. And, uh And he said that a Corona virus emergency induced payroll tax holiday like the president's talkingabout attacks today. I would work, but it could also have a big effect on us down the road economically, because even though people like the idea on that President Trump, according to Stephen Moore has the authority to act this payroll tax holiday. Hey warns that it could lead to some problems for our economy down the road if we if we stop collecting the 7.5% tax, right, But remember the first stimulus when everyone got 1200 bucks Man. The stores were packed. People are buying things they never bought before. They know because a lot of people, even people that are fiscally conservative. A lot of people will put 10 20% of their check into a fora one and then just try to live Wi Fi weak so that they have a lot of money when they retire. You no good son. But now they've got $1200. You can buy a bike. You can't buy a grill. You can't buy a camper. You can't You don't think that putting money in people's pockets won't stimulate the economy? In another. What's the argument? That's the argument of Stephen Moore. He says that first of all, Donald Trump has the what he calls unquestionable authority to suspend collection of the payroll tax by an emergency procedure that has spelled out in the tax code. So there's that to begin with. And what for two months, even Yeah, well, let me tell you more. About what I heard that That would mean that employers with no longer withhold that tax from people's paychecks. Ah, Donald Trump could say if I'm re elected, I'm going to forgive that tax, so it's sort of a way of cutting taxes without Congress necessarily authorising it so hard. He doesn't need Nancy Pelosi's approval and, Ah, it could take some pressure off the economy, reduce government spending, put more money back into our own pockets. Those of us who work in this country. And so you know how many 1,000,000 people would go backto work off of unemployment. Now. There you go. That's it would be a guess right now, wouldn't it? But more than one, you know that. I appreciate the call. Thank you so very much. Mark will get two more of your phone calls coming up. 808 590957 In the final hour of the show. We hope because we've got the governor after the bottom of the hour news break, and then after 11 o'clock we hope she'll be done with her news briefing, and we'll be back on the Frank Beckmann show..
Trump Adviser: Social Distancing Protestors Are the Second Coming of Rosa Parks
"My life listen to this this is trump adviser I don't trump only hires the best Stephen Moore ladies government areas that's the no we're going to see a lot more of those in Ohio we saw more protests today I'm working with a group of Wisconsin that wants to do a drive in Hey are you remember the old sentence with this degree of drive and they're gonna shut down the capital sh don't tell anybody but they think they can get fifteen hundred people to come and and this is great yeah you guys all so that we have a one big going on Wisconsin I'm not gonna mention his name and I told about this you said Steve I promise I will pay the bail and legal fees for anyone who gets arrested so this is a great time gentlemen and ladies for civil disobedience we need to be the Rosa Parks here and protest against these government injustice ladies and gentlemen Donald Trump adviser Stephen Moore just compared Rosa Parks to some of these protesters it is one of the dumbest and by the way can you quite a few one of the dumbest comments that anybody in Donald trump's cabinet has made JD you can't possibly defend that statement he said we need to be the Rosa Parks here like we need to be like Rosa Parks yeah and he made a reference to some of these protesters running out there and protest the war the protesting you're so you're comparing it to think all about best what the protests and I'm asking you are you okay with that they want they want America to open back up they want their jobs back they want their lives back if anything that's an outdated they think this is a no brainer
Paul Ehrlich - Uncensored on Earth Day 50th Anniversary
"This is the growth busters. Podcast about sustainable living. We are deep into overshoot. So we're busy trying to save the planet. If we succeed with your help maybe there'll be something left for the next generation and the one after that. Sometimes we talk about simple things we can all do in our daily lives to shrink our footprint. Sometimes we dig into deep heavy duty subjects like it's been fifty years since the first Earth Day. What the happened. I'm Dave Gardner. One of your guides on this journey to sustainability and I'm Eric Areas Co host and Co producer of the growth busters podcast for cutting edge information about our cultures unsustainable love affair with growth. And what we can do about it. Visit GROWTH BUSTERS DOT ORG. The special day episode is really extra special because we are joined by. Stanford biologist. Dr Paul Ehrlich the man who launched me on this path of planet saving. But before we talk to Paul. I have a couple of quick bits of News Erica. We also want to do a quick follow up on her last episode forty to the silver lining of Kobe induced recession with Brian. Check Executive Director of the Center for the advancement of the steady state economy. We discussed how reduced economic activity like we're having now during. The Corona virus lockdown is actually a step in the right direction for preservation of her life. Supporting Ecosystems will since we published that episode. Erica to interesting. Commentaries have been published. That are quite relevant. Maybe even read it. We should talk about briefly but try to keep this pretty quick. Because we know everybody's waiting to hear from Dr Paul Erlich. There's one that I hesitate to even mention. I really hate to give it any oxygen. It was called. Beware the left's De Growth Movement and it was written by Stephen Moore. He's got a syndicated column which is a tragedy in itself green and that name may ring a bell to you. Stephen Moore was floated for a while as potential fed position. Donald Trump wanted Stephen Moore but the guy just looked qualifications and eventually they had to pull his name basically works for these think. Tanks that are propaganda machines for growth pushers and growth profiteers. So this piece. Beware the Left de Growth Movement by Stephen Moore. We just want Issue a warning about I guess and you know what I remember. Erica evening that I I read that. I sent you an email with a link to that and boy. I got your attention. If you know growl when I get mad and this article definitely deserved a few girls from me. I found it hilarious. How Stephen Moore? Who is supposed to be? You know sort of a big deal out there in his area. I thought it was really funny that he refers to the growth movement as sort of this chic fad as if environmental protection which is the quintessential of the De Growth Movement. Somehow became fashionable. Sure let's go ahead and talk about how sexy climate changes and all the catastrophe that's happening because of the climate change. Let's go ahead and talk about how sexy that as people started carrying about the planet a longtime ago when it became apparent that there's an everybody else's health and social wellbeing are actually dependent on the planet's ability to support kind of water is all about in fact because that was kind of the peak of environmental care little. Did people know back in nineteen seventy that. It was peeking. They thought it was just beginning and we should talk about that a little bit so we will include Lincoln the show notes to this piece of garbage. And if you do go and read it be sure to scroll down and read the notes because there are some good notes in effect. Brian Check. Who was our guest on the last episode about the silver lining of the coveted induced recession? Rebrand check wrote a comment to that piece that made a very good rebuttal and it didn't take him long because the truth is this thing is just full of unsubstantiated generalizations. Wouldn't you say Erica? But there's hope because we got the antidote and shortly after sent you the link to that I sent you a link to this really amazing and wonderful essay that we cannot recommend to highly. We're GONNA definitely put the link in the show notes and all whatever I can do to star in highlight it and bring it to your attention will and we have to sell it because it's I don't know it takes a little while to read a little bit a time. Rating that myself. It's titled the end of Economic Growth by going to butcher those SAR Mitijda sub Ramadan survey on an Subramanian. Somebody awesome somebody. I'm GonNa Start Worshiping so a shout out to you. Sobre Mista and forgiveness for butchering your name. But boy we love you in your work and this is actually going to be in the May print issue of mcleans which is a big magazine in Canada but they posted at mcleans dot ca on April fifteenth. And we will put a link in the show notes so online. It's called the end of the economic growth and imprint. The headline is the death of growth. I think we've kind of already obscene. That disasters have a way of slowing climate. Change not to mention slowing down economy and when we also start to see oil prices decline and suddenly there's no more funds available to invest in all these green technologies that all of our techno enthusiasts friends have been raving about. What do we do what we left with? Is Technology still going to save? The world is at saving the world right. Now it's kind of a really scary time that I hope. More people are starting to question whether that is going to be the fix for everything going forward and another positive thing. I took from. This article was just hope for the future where people begin to see how one person's or even just a group of people's misfortune collective misfortune affects all of us economically health wise a now more than ever those most vulnerable to climate and deuce catastrophe while this might seem like it's such a faraway problem and that doesn't directly affect us. I hope that we're starting to see that it really does. It really does. And it's only a matter of time before it does directly affect us. I think what excites me? Most about this is. This is a really Almost like a little mini course for for people with short attention span. Or if you don't have the time or you can't find a good semester long college course in real economics that understands that the economy is a subset of the Environment. This is a good primer. She talks about polar limits to growth Vaclav smell than I think. One of the most important things in here is this notion. And apparently more and more economists and other smart people are starting to talk about the fact that you know what comic growth is slowing down. And maybe that's just a normal part of the process. Maybe that's a sign of a a mature economy. In fact a she mentions a book called fully grown. Why stagnant economy is a sign of success. Imagine that I mean this is blasphemy to somebody like Stephen Moore. But this is intelligent. This isn't full of unsubstantiated generalizations. This is a really good piece. That's required reading. So if you're a little bit new to the idea that pursuit of robust economic growth is a suicide mission. This'll be a good primer for you if you've been following along with what we've been talking about for years now and this isn't a new idea to you. This is something you can share with somebody who might be rational enough and open minded enough that you can say that's what I'm talking about.
"stephen moore" Discussed on KDWN 720AM
"It Stephen Moore sees were heading as a country and thinks the worst is over you know he's an esteemed economists cut twelve I'm feeling a lot better today about where we are and I was a week or two ago things have really looks like we may have turned a corner but I like this approach Donny what I believe in federalism that states should lead the way that one state can we learn from another I think you're gonna see more laissez are an opening of the unique in the western and midwestern states I think the east coast are gonna be a little flower and that is often the cats roundtable discreetly can show for John casta TD's city had us even more on so he is saying he feels a bit better about things what about you we'll talk about that with congressman **** more chip Roy should say but for the most part I was shocked at this they did a poll and ask people are you ready to get out sixty percent of Americans say they're more concerned that loosening up stay home measures will further spread the coronavirus wow that's the NBC Wall Street journal poll by comparison thirty two percent or more concerned about the country that the country will take too much time to ease the restrictions seventy seven percent of Democrats responded to fifty some percent fifty three percent of independents report they're more concerned about the spread of the virus Republicans are more divided thirty nine percent more worried about the pandemic forty eight percent reporting their greatest concern is the economy I'm actually with the one with the latter I'm I'm more concerned about the economy Sally it everybody this is septa below this point and we're keeping the safety make sure the supply make sure they have a some money on and make sure when things get safe there first to get out and and get some care but for the most part they're not gonna be the same country if we continue to wait Derek listen Wes in west Bridgewater Massachusetts Hey Derek Brian it's out west Bridgewater yeah I'm just just coincidently not really coincidently but about six months ago all their faults governor Baker will be here in Massachusetts do the temporary shut down of all the vape shops here in Massachusetts it was wrong we did it for the wrong reasons it ends up that by the time he realized that he made a mistake in the bait shops weren't causing the problem over here ninety percent of me re opened all the shops after a few months ninety percent of jobs went bankrupt so this this model has been proven right now across the whole nation if we keep our businesses shut down we're gonna have bankruptcies like you don't want to believe the Majority Leader McCarthy a hundred percent right the policy is killing businesses every moment every day every hour she weighed every business is a dying I hear yeah it's inexcusable don't tell me as part of politics as usual as he sits there and our our mansion overlooking the water.
Interview With Jeffrey Howard On The Coronavirus Situation In the United STates
"Joining me to discuss the latest twist and turn stateside is the political philosopher and US politics expert at UC L. A Good Friend of Monaco Twenty Four Geoffrey Howard Jeffrey. Good morning to you. You're listening to that. I was quite striking. Some of Ed had to say it's been tracking obviously trump's presses in this kind of thing this idea that he's oscillating between attack mode and a more conciliatory tone on the latter. It's not something that he does particularly. Well it people. We're talking just a couple of weeks ago that we're seeing a new tone from the president on this topic and people wondered whether this was a a moment of pivoting to a more conciliatory manner may be one. That would be bipartisan. That would engage people on both sides of the Aisle. A but every time people think that that's happening We're disappointed within hours. And the president reverts to really what his is natural tendency which is to be compatible. Cabada to be extremely defensive into interpret any attempts to have a thoughtful inquiry about the best next steps regarding this price process as a criticism of his administration. Well to that point and then Jeffrey do you go along with this reading. Because perhaps of essentially a lack of national strategy on this trump is happy to play this. Blame game you know. He's got governors Left and right. Oh it must be said in his in his crosshairs. Is that what? He's decided his way to deflect that. Scrutiny that you mentioned that is to simply turntables on a on governors and of course the regions and say you know. These are the people who are letting the nation down. There's no doubt that his intention is to declare victory and then point whatever bad fallout transpires. And of course they're always been already been thousands dead point two governors and say it was their fault. I think that's clearly. His strategy take responsibility for the good stuff for the progress. That's been made and place responsibility for all the bad stuff on the governor's and we're already seeing him. Turning this debate into a kind of culture war. Such that one's position on the lockdown Will be a matter of partisan affiliation so It was so striking Lake Friday that he tweeted out. Liberate Minnesota Liberate Michigan Liberate Virginia What's he talking about? So He's essentially encouraging the public to disobey State Public Health Advisories and stay at home orders. Many of which his own administration Encouraged the creation of and. I think it's important to remember here in the context of the battle against Corona virus. That it it's not about you when the government tells you to stay home of it's not about restricting your freedom in order to make your life go worse. It's about the moral obligation. All of us have not to endanger one another by spreading the transmission of the virus and thereby risking infecting others and therefore risking the overwhelming of hospitals and the fact that he couches it in terms of liberation That he couches this requirement that people look out for one another in the community is tantamount to oppression is is so striking. I think one of the worst things I saw in the last few days is a quote by Stephen Moore. Who's of one of the White House advisers to trump on corona virus new called the protesters quote? Modern Day Rosa Parks. They're protesting against injustice at a loss of liberties and quote. Rosa parks being famous civil rights activists of the African American woman. Who In nineteen fifty five famously sat at the front of the the busted. The whites only section. Right it's just absurd to be calling people who are literally endangered one another Tantamount to Rosa parks. But that's where we're at. That's where I'm struggling through the process. That comparison in my mind Jeffrey. Let's move on just in terms of I mentioned rounded up this show. It's hard to see that trump has anything other than the general election later this year In his personal crosshairs. And you can see how this fits his old narrative his this this rabble-rousing citing the second amendment in tweets. And this stuff you said about oppression and liberation again designed to play too and I use the quote marks his base. Do we know how both his really hard coal committed supporters Following him suggestions are that his poll ratings are are off amongst that demographic but with anyone who may be I don't know if flip-flopping little or or or or open to possibly voting Democrat in the Autumn House this actually playing this narrative especially this crazy new authoritarianism. I guess you'd call it. I mean what's striking about these? These protests does that. They're certainly attempting to appear. Grass roots. There certainly the kinds of scrappy movements of people that suggests that it was a a bunch of people on who just decided to get up and go out in protest. But if we've learned that's not quite true. We know that. For example the Michigan protests were explicitly funded by organizations like the Michigan Conservative coalition. The Michigan Freedom Fund of quite striking that the Michigan Conservative coalition also goes by the name the Michigan Trump Republicans according to the Washington Post. So it looks like this is not really grassroots. It's what we would instead. Call ask her turf. Fake grass roots at a concerted attempt by powerful interests to make. It seem like the people are rising up. And I think it's a difficult question because generally speaking we're having widespread compliance would stay at home. Orders were not having tens of thousands or hundreds of thousands of people out in the streets protesting relatively speaking. The protests are somewhat small but online. They have a very large presence on facebook. They have a very large presence. And I think already we're seeing the president. You Use Corona virus as a way to whip up agitation against mostly Democratic governor so in Michigan for example. The governor is Gretchen Whitmer. Who's a democrat? Who's been named as a potential potential vice presidential pick for Joe Biden? A very popular Democratic Governor Michigan and she has absolutely in trump's crosshairs in terms of his rhetoric and he's very much Trying to lower her public opinion in the state and lower the public opinion of other democratic governors around the country. And I think it's not that trump oscillates between a mood where he's thinking about how we genuinely solve this public health crisis and then shifts to the political register to think about how the politics plays out. He's I think always in the political register he's always thinking about how this impacts his popularity how it impacts his electoral prospects in November November twenty twenty and it seems all decisions are being made in light of that well given that then Jeffrey. What are the prospects to the US? It's interesting if you track the data points this weekend. It just seems they've kind of another grim allstone North of forty thousand deaths. Which is I think over. A quarter of the global total Three quarters of a million infections which I think is more than a third of the global total feels out of control with his focus so unrelenting unrelentingly on domestic political maneuverings is there a risk that the US doesn't develop a coherent strategy in the weeks. Ahead I mean. There isn't a coherent strategy even now so the president has outlined a three step phased reopening of the economy that he's encouraging governors to to pursue a book. Governors are very insistent that you have to link the reopening of the economy with testing. And we know that there have been considerable. Shortages of testing kits considerable shortages of supplies of the governors have been complaining about this. We know that that particular issue has been a disaster where states have been trying to bid against one another. They've been trying to bid against various government agencies rather than having a unified federal response. And because of that. I think it's going to push the reopening later and later now I think what seems likely is that trump is going to say. We need to do this. We need to move forward and states with trump loyalists as governors will move. We already saw beaches reopening in Florida. Just this past weekend now. It looked like people were practising reasonably good social distancing on those beaches but the point remains that if trump says let's reopen. Let's do it now. A lot of Republican states are GonNa follow suit and then you might have a really terrible situation where you have states that favor the president in greater peril than states that don't favor the president and I think it's just a very sad state of affairs that you have people who like the president who were essentially being lied to by the President about what's in their own Public Health interest in. What's actually going to protect people in their communities. Jeffrey is Great. Salt with you as always. That was our friend. Geoffrey
"stephen moore" Discussed on The Takeout
"Working from home has been for many many weeks. He Moore's our special guests devore's an advisor to the president of the United States in good times he's a member of the reopening American Economy Task Force now and these crisis times of Kobe. Nineteen it was a significant adviser to the president during his campaign in two thousand sixteen and in the formulation and ultimate legislative approval of the president's tax cuts of two thousand seventeen so he's a significant voice in talking about where we are and where the economy could be heading in the not too distant future. Steve along those lines. I was having a conversation with a friend of mine who has a large chain of restaurants in the Dallas area. He had to lay off. Eighteen hundred employees and his immediate reaction is some of my employees are not coming back because they're getting construction jobs. They're doing other things and he was other thing he was worried about it. He's like well in the two point. Three trillion dollar lifeline bridge bill that was passed and signed by. Congress passed by the signed by the president. Unemployment benefits are of a not extravagant but generous nature. And some of my people won't come back because they will earn more dot coming back then they would've earned working for me. Is that a concern. You have yeah talk about the law of unintended consequences. In fact I did an analysis of that and your friend is correct that we this another mistake. We made in the two trillion dollar bill. I don't have a problem with providing people with unemployment benefits because so many millions of people become unemployed. There are no jobs out there right now but you don't give people a hundred percent of what they were getting before because then you do give an incentive for people to leave the front who has you do Who owns a construction company? And he has about one hundred employees and he said the day after the Pasta Bill. Thirty of his voice. Walk off the job because a construction job. That's that's tough work. You and I have fun jobs. And that's really tough in a grueling work to be on construction growth and so think about this system prepareness I was at bear for the seventy two are continue to work getting up at six in the morning and working forty forty five hours a week and the other guy goes home and watches. Tv and he could get his macho warm or even more than the people working south. We gotta fix that. Are you glad that the legislation covered unemployment benefits of people in this so-called GIG economy and self employed contractors and things like that which had not historically been covered by unemployment benefits? I guess so I mean I don't like unemployment benefits employment unemployment. WanNa get people back to recognizing them as parts of the economy in ways. They hadn't been recognized before that is an emerging part of the economy. It's a real part is. It's getting bigger every single day and does the new decisions. I'll see decisions. I haven't really thought about that one so I don't have a great answer. Got It so we have three threshold questions. We ask all of our guest in this fun and games portion of it so in no particular order. Take these whichever order. You prefer Most influential book in Your Life. All time favorite movie or one of your favorite movies. And if you've got a lot of time at home now you're gonNA put some headphones on and really get into some great music. What is it artist or genre so lots of the last one I because I've been listening this over and over again. The greatest movies ever made is the second side of Abbey Road. Incredible with mean Mr Mustard and You know the end and all of those great great size I mean I just listen to that over and over again. Amazing Talents Book Number Nine on the bestseller list right now in a fiction is is nineteen eighty by George L. or well given the times were. I think it'd be great for people to read that. And what was the first the first one The second one. You got the first into third the second. Oh Gosh I'M GONNA have to go with bill. Murray's what about Bob I watch it. I laugh and laugh and laugh some humor now right we we definitely. We definitely need humor. I was but everybody says that people say the Godfather for sure that's a repeater on the show. No doubt about it and for good reason. So how much do you regret not being on the Federal Reserve Board? You know I was thinking about when you asked me about earlier you know in new saying PhD. Economists I actually think that was one of my attributes. I'M SERIOUS. That kind of a club over there via she economists and some people can't defend that said. Hey maybe having a different perspective would be a good thing and by the way Paul. Volcker was not an economist. Did you know that he was a heart rate? Fed Chairman. So Do I regret it times like now? I do because the fattest meat we didn't even get into this. Maybe next time Major the Fed is making decisions that trillions and trillions of dollars decisions. They've never done before they become a massive commercial bank lawn lending companies stuff. We should be thinking about whether that we want. Some kind of on elected officials making these major major decisions affecting our country. Do oppose those interventions from the In this in this particular crisis has done. Mostly the right thing. We need massive dollar liquidity in the economy. You saw consumer price are falling. That means. There's not enough dollars. Just keep getting dollars into the economy because remember during the Great Depression. That was an era of deflation. Deflation can be as bad as inflation Do you still believe that. Climate Change as it is colloquially referred to as the biggest scam or the last two decades. I think it's I think we are way overreacting to this and the idea that governments are gonna come together and changing the patterns of of Of the weather and the climate on the planet is absurd and to those who are saying. Well we need to growth and progress and technology are going to save the planet not governmental action. And before I let you go what it. How do you react when you see stories like well? Silver lining of covert nineteen. It's cleaner skies less crowded streets and Better environmental it's the de Growth Movement. I mean think about how clean the environment would be if there were none of us. That's why the other great book that people should read. I'll say this on the way out. Is Julian Simon Scrape the ultimate resource? It'll change your perspective on the world and it was written thirty years ago but as relevant today as Upper Steve More pleasure. I think he'd be will be safe. Be Healthy you want the food. I want the drinks all that stuff when again. We're on the other side of this. I guarantee you all will be provided I enjoyed. They do that. Ladies.
"stephen moore" Discussed on The Rubin Report
"To the show we literally no I I. Why don't we have five minutes left? 'cause you you gotta get to Calais. Can I come out. Yeah absolutely come back and we'll do it with no we'll do it with no time but in five minutes. This is going to be almost impossible. Can you give me a a sort of basic breakdown of where we're at with China. I think this is pretty much the most confusing right now. People have no idea what is being ramp so so it's not just confusing. This is the issue of our time. Okay this is. I've called congratulations. I'm giving you five minutes. I know it's the epic battle time. Just as you know in the from the nineteen fifties. He's through you know the late eighties. You know it was this the Cold War with with the Soviet Union now. We have an epic battle. I think this is the new Cold War I really do around. I think that this is World War for you know that we've got. I mean China. Skip three they're probably. Why discworld? Well I think you could say the Cold War was sort of well okay But in any case I mean exaggerating. What my point I'm making? China is becoming increasingly menace on the world scene They marched towards towards freedom. Look Ma was the single greatest villain. Maybe whoever walked on the planet earth I mean he killed you know tens and tens of millions of his own people And then finally finally they moved away from Communism which we were talking about four and they br- they started to embrace privatization and free enterprise not fully but moved in that direction and he had a boom. I mean one of the great booms. uh-huh ever in history. What happened in China the last thirty years? Yeah the problem has been. They've moved more in a stalinistic direction. Now and so. They're building up their military cheating on trade deals else. They've never opened up their markets to us. It's we're in the way I describe it to Donald Trump not that he needed any urging on this because he got this. We are an abusive trade trade relationship with China. We've our markets to them. They have not opened up their market. US they're stealing our intellectual property we I applaud trump for finally calling them out on this. It's about time we're this is right now. The ball's in their court. We have a mini deal right now but China could. You can't trust these people as far as you could spend I'm the problem is they also. Don't keep their word so it's a tricky situation but this is this is a battle. That's not going to be resolved in the next three months or six months or a year or two. It's probably probably GONNA go on for a decade or two and the big issue is will the United States or China be the World Economic Superpower over the next twenty five thirty years. You know who I'M GONNA put my money money on. I think you know why because we still do have a free enterprise system. They are command and control. They have the you know they have those with Warren type of okay so you think so you think ultimately that sort of thing might work at some level for some period of time but ultimately it fails anytime I would say to my liberal. Show me anytime. Anyplace replace anywhere where that models worked. It didn't work for the Soviet Union. It hasn't worked for North Korea. It didn't work for who shot as a met his way. Length and work for Castro. I I mean it's never worked anywhere because the genius of Free Enterprise System the millions of actors who make decisions the idea that you can have a few politicians in a central polit. It Bureau that can make the decisions about an economy with you know millions and millions of decisions I mean. It's it's ludicrous. It will break down. I'm putting my money on Silicon Valley Alley and they've got their own set of problems though because of how lefty they've gone but that that's a whole other topic that we'll have to discuss. I think you prove to me. You're managed convert China. Yeah I always say this speeches are Chinese are smarter than their Chinese. I think you prove to me. You're an economist here. Because we probably got the most amount of ideas packed into the short show as bad as Z. There you go. You guys can follow Steve at Stephen Moore on twitter and we will have them back for for a full episode. Soon enough. All right thanks..
Interview with Anil Dash Discussing Web Development
"An ill welcome to the show thanks for having me it's kind of honor I feel like I've I've seen your work for a long time and I think the world is a better place because of what you do but for those who uh of for whatever reason they haven't encountered what you do the things that you are part of can you can give a basic background to the work that you're doing Jack make stuff on the web And so the first thing I became known for his I I started blogging about twenty years ago reading about software in pop culture and whatever else and then you didn't have to be he didn't have big late you consider tries though and then along the way I got to work a number of startups in the early days of social media out build a tool Co. movable type those sort of one of the first big long tools these billy's till the post and Gawker and things like that and then we'll recently a lot of my work has been around trying to enable collaboration creativity coating together so I'm on the board of Stack overflow and Sankara blow actually spun out of call our creed also travel links other products and about three years ago I took over the company and we launched so the latest in that series of products called glitch and it has become a very substantial very interesting community people creating web stuff together in it's both a platform we can code right your browser and instantly ship up to the entire web and also a really great creative community reconsider the People's work remix it in and and clower together and it's been a pretty you know knock on wood every night success and the gates we've had it just lots and lots devs come in and be like Oh this brings back creative feeling Ron cody and so we ended up actually rename the company to glitch and focusing all in on it and since we decided to do that about a year year and go it's really taken off people now built millions of APPs on the and that's one day to day is running the company and getting direct with the community and I'm GonNa ask you a intentionally broad and difficult question about glitch now I'm not sure Who is glitch made four and who is it made not for WHO's not made for I guess is a better with it and I can use English properly today who is it not made for that's a great question so the first thing I thought about is every Hamed a developer tool in the past it had always been this felt like they hadn't pictured guy sitting at a desk with a black turban screening green taxed on and that was the sort of the ethos in the aesthetic in and the mindset of this thing and who's GonNa prove your command line is this is how you became a developer and we actually have a great cohort of people that work that way and they're using this as a tools English but it wasn't that we put them I thought we know we check that box those kinds of developers but for people interestingly on other the opposite ends of the occur from that's the the middle of curve adopters on one enter a real experts who lobby on the web but have had you know any I be in differing views are created toward the tools of us and and I think they've lost some of the the joy the fun of just making stuff and sharing it because it's become very complicated you can't just ship stuff and all of a sudden you're negotiating your deployment environment and also stuff it's just in the way and so those very very experienced coders I think have lost the the fun of the soul of connecting them to creating an the other end are beginners in this can be a kid is learning to read the first line of each to mail it can be experienced over trying API that they haven't used before this sort of back to square one or somebody that doesn't take themselves coder at all maybe they do you know they edit formulas in spreadsheets workers like that the share in common you've got some technical skill but they're a little bit out of their comfort zone a little bit out of the norm in for them listing Louis they had the same needs that expert coder has when they just want to get an idea of their head which is I don't WanNa worry about the overhead and complexity I don't WanNa be distracted by getting something just the basics running I won't be expresses idea I wanNA capture this this little mood of inspiration than I had before evaporates because it's so fragile seen same way as like you know a lot of friends with musicians and all of us have in other guitar two new residents were sitting next to them so that they got it songs in their head they can just capture it and the same thing applies for for making stuff on the web were sometimes you said this fun idea you get out there on glitches as easy as remix it and change it tweet it to be exactly what you need for managed that's in your head we're making everybody that's ever had a moment that you don't be cool thank you know what the world should see this one little idea yeah that's super cool so there's a lot to be said for lowering the barrier to entry both for people who are you know well into the industry now the job and doing fine but also perhaps more importantly for people who are not in the industry who want to try something for the first time but they don't WanNA learn sixteen hours worth of coober netease material exactly right that's not what they're looking for and even like I can't I can't provisional serve on aws again the deploy script but my Gosh I don't want to you just WanNa make something in in back in the day I used to be able to go on Geo cities or journal or whatever the time and just sort of like shop something onto the Internet and it got worse and then it got hard you know and so he's got some difficult than it couldn't just you know try something can just experiment and so having I feel where it's like I said as joyful it's just like tapping out a song piano or something I it's a really Nice feeling yeah I think so so what you've said is this really cool the idea of of a quick idea get it out on paper and you know I think a lot of people may have a misconception about glitch based on our conversation so far that's only made for like these prototyping ideas but there's actually these like the ability to do production level thing right yeah so I mean we run glitch dot com visit south on which is estimated and that's obviously you know Michigan legal for us it's very important out but but either lots of companies where you you're not going to run your air traffic control system on it you're not gonna that's nine you're not gonNA run the Stock Exchange on it sure did that a lot of times or just like I wanted you know we have some old proprietary apple or company and we would like to have it ah you know drop something in the slack so we have a reporting system in I just wanted to set it up but I'm the one the president the office who has permission to launch production apt to do all the I'm stopping I don't WanNa ask the IT guys to do it for me in the third quarter of next year and so maybe I can just put something together and I think that that's the taste but I think it's true at home or somebody who's like I just wanted to you know put together a website to organize early neighborhood wants to clean up the park the playground I want to have to do a facebook group for it and there's a lot of different ways of capturing that impulse but their relapse and they really run and they there full stack and they are us any framework and toolkit API I do think a lot of times we start with that in Nicole were all of like in the technical bonafides and not so much the creative impulses destined care about the most is you actually figure out any tech you need to or any you will learn a teenage learn if there is an idea that just animates you so much that you need to create it in the world and Sony learn that way to begin with or at least started that way and And we wanted to sort of enable that because the expert coders are very well tended to there are tons of resource capabilities but the people who are like just need to get this idea out there and then maybe they got some experience coating or maybe you tone but will handle all that other complexity offer you WanNa go if you want to run the large scale production side like you are that's great that's all in there you don't have to think about that we start right yeah I think there's there's an interesting discussion here that kind of merges when when you start thinking about you know that seam between and I'm back when I was an agent he works especially I saw the same pronounce Stephen Moore but it's between the kind of creative people and technically adept people Zainur and develop per prototype kind of people where the designers kind of quarantines to this area where you know they might be able to make a motion prototypes they may even be able to work with HD on Java scrip- right but there's no way that that stuff is GonNa make it over that seem is not going to get into the quote real APP yet right and it got harder to because we introduce the frameworks of the toolkits build scripts that you couldn't just tweet it yourself now you you had have this knowledge
"stephen moore" Discussed on The Jason Stapleton Program
"That and yet they're they are and then I turn on the television and these knuckleheads on the right are just standing there like sheep oil chanting at trump and holding up their signs signs and I just I I just I realized that there are idiots everywhere. I'm surrounded by them and <HES> and all right. Maybe that makes me the idiot. I think amy took that personally. No trust me. I here's the thing aimee and Matt came up here with Me Vegas and they're leaving tomorrow because they got to go back and I'm terrified because I I don't know the I could not have done the last day and a half a day and a half to your Lord for only halfway we done. I could not have done the last day and a half without without Amien you guys have just been incredible and such a huge help and <hes> I don't know man. Is there anything else we need to talk about. This has been just kind of a relaxed show today tain <unk> Herman Cain way he said the way he says her name Oh Alexandria Casio Cortes Cortes it was it was pretty surreal sitting back there and listening to Herman Cain and Stephen Moore as they were sitting there having a conversation about their recent conversations with trump like Stephen Moore leans over news like talking to him and I couldn't quite hear what they were saying but just sitting there listening to them and they're like you see Donald was saying Blah Blah Blah Blah whatever yeah it's just it's. It's you see all of these people that live in this world but it's kind of it's indistinguishable from. I'm watching a T._v.. Show right. It's just these these aren't real people. These are just characters kind of but then you see them in real life. They're just ordinary. Ordinary human beings just like anybody else. I hate to break it to you. Make up twenty four hours in the day that we do the more that you're on camera. The more people are going to start to look at you that way away 'cause they're going to show up and people like <hes> like we met some really great people tonight <hes> and <hes> and I mean they walked back and they were super worried about overstaying their welcome and the you know about I don't know about acting <unk> rider being right and and I it's just that just comes with meeting people that that you've that you've been seeing on T._v.. Or on on listening to for so long and <hes> just wonderful wonderful folks I'm so glad I got a chance to meet him and that <hes> <hes> that they were that they wanted to come back and say hi so <hes> anyway. What are we getting any else Yeah Adam adamant at what was what was her name adamant e no Adams Wife's name Elissa Elissa Adam Melissa Yeah you guys would remember him from he was the one who you read the story about? Yes Yep about <hes> they lost their baby and <hes> and they came back and just <hes> just just the best people. I didn't WANNA mention their names I but <hes> thanks you did it so I didn't do it <hes> but <hes> anyway so just it's been. It's been a blast. I had a great time and we still got two more days left Glenn Beck Tomorrow <hes> and pendulum tomorrow so those guys this Candice Owens..
Trump says he intends to nominate Christopher Waller, Judy Shelton for Fed board
"President trump announced two new nominees for the federal reserve board today NPR's Scott Horsley reports two of trump's earlier picks for the central bank were forced to bow out trouble is that Twitter that he plans to nominate Christopher Waller and Judy Shelton to the fed seven member board of governors Waller has a conventional resume he was an economics professor at Notre Dame and now serves as director of research for the federal reserve bank of Saint Louis Sheldon is more of a wild card she's advocated a return to the gold standard and also told CNBC last month she like to cut interest rates to zero within a year or two the president's last two fed nominees Stephen Moore man Herman Cain dropped out of contention before either man was formally nominated critics describe more and Kane is overly political putting the central bank's independence in potential
Could the Great Depression Happen Again?
"Hey, brain stuff. Lauren voelpel bomb here. If you live through the great depression, that started in the late nineteen twenty s and lasted until the beginning of world or two, it's hard to imagine just how rough many ordinary Americans had it at the depressions peak in nineteen thirty three the nation's gross domestic product have been cut roughly in half and nearly one in four American workers was unemployed since they didn't have money to pay their mortgages, the foreclosure rate more than doubled, and people who lost their homes found themselves, arresting cardboard and scrap wood shacks and living in camps notice, Hoover villes on the edge of towns and cities, named after president Herbert Hoover who many blamed for the depression, in an interview published by the Federal Reserve Bank of Saint Louis in two thousand seven two men who survived, the depression, describe, how people around them often were so desperate for food that they eagerly routed through garbage bins at markets for discarded vegetables, and spoiled chicken carcasses, even after Franklin Roosevelt's new deal program eased, some of the deprivation the nation's battered, economy continue to struggle right up until the war. Brought a mass. Surge in government spending and created jobs at defense plans for those who didn't go off to fight overseas. But why did the great depression happen and could it ever happened again? The pressures causes have been a longtime subject of debate by historians and communists, though, there seems to be a consensus that the economic disaster was the result of multiple factors. Some of which led to the event, while others worsened or prolonged it, and while the nation's economy, the financial system and government regulation have changed considerably since the nineteen twenties. And thirties, experts warned that we're still not immune some of the same risks contributed to the catastrophe worse, yet some stakes of that era are now being repeated at the top of the list is income inequality. We spoke with Robert S MC, elven a history, professor at Millsaps college in Mississippi and author of the great depression, America nineteen twenty nine to nineteen forty one. He says the US shifted during the nineteen twenties. Twin economy, heavily dependent upon consumption of mass produced goods ranging from automobiles to radios while sales of those products. Drove up. Office for factory owners and retailers, most American workers wages grew much more slowly. Eventually he notes, people didn't have enough money to buy more things, and keep the economy, going businesses tried to cope by extending consumer credit and allowing people to gradually pay off their purchases. But they didn't have enough income to keep buying new stuff as well in the summer of nineteen twenty nine to avoid having inventory, pile-up factory started cutting back on production, and laying off workers those workers, then couldn't buy things which meant even more products piled up that started the economy on a downward spiral that contributed to a four day stock market crash in late October of nineteen twenty nine which raised a quarter of the value of the Dow Jones industrial average wiping out investors and severely damaging public confidence circa, nineteen twenties. Income inequality was exacerbated by a series of tax cuts pushed through congress by secretary of the treasury. Andrew w Mellon, extensively to stimulate the economy as one of the world's richest men Mellon personally benefited from the cuts more than. Practically all the tax payers in the state of Nebraska, as one political opponent of the Bill pointed out, ninety years later income, inequality is growing, and it's a threat to an economy, which depends upon personal consumption of two thirds of its economic output, and congress in two thousand seventeen past a massive tax cut package, which most Americans see themselves as not benefiting from. In addition to income inequality, there was a lot of investment speculation going on. There's a difference between investing and speculating, which invested pedia defines as putting your money into high risk investments in hopes of making a killing, but in the nineteen twenties, when everything seemed to be booming investors often were a bit too, trusting. We also spoke with Todd new p- a professor of economics and business at Cornell college in Vernon Iowa. He said, many people think of the dust bowl or the stock market crash, as the proximate cause of the great depression. But in reality, it was caused by the same factors that have caused financial crises throughout history in the US and elsewhere, debt financed speculation. In other words when people find it too easy to borrow other people's money to speculate on risky ventures. Stocks bonds, subprime housing, etc. Then people risk too much and prices boom, only to eventually bust decades later. Unfortunately, we're still vulnerable to that psychological flaw. Nuke said, markets are prone to. That this time it's different only to find out again. And again that it is usually not. In the nineteen twenties. The United States was also dealing with some bad Federal Reserve policy today were accustomed to thinking of the Federal Reserve, the nation central Bank as the guardian of the economy, that's because it's board could use monetary policy control of the supply of money and credit to stimulate the economy, when it needs a boost or to put on the brakes when inflation is starting to creep upward, but in a two thousand four lecture, former fed chairman, Ben banenky detailed his theory that ninety years ago. The fed dropped the ball with policy blunders that helped cause, prolonged the great depression, starting in nineteen twenty eight the fed hoping to put the brakes on Wall Street speculators who are investing borrowed money started raising interest rates that policy succeeded a little too, well as evidenced, by the stock market's catastrophic drop in October of nineteen twenty nine but then even after the stock market collapsed, the fed kept increasing interest rates, the reason was that the US like many other countries was on the gold standard, meaning that the dollar was redeemable in gold and pegged. To its value. When pennant investors started trading their dollars for gold, the fed moved to thwart them, Brennan key explained in his speech to stabilize the dollar the fed once, again raised interest rates sharply on the view that currency speculators would be less willing to liquidate dollar assets if they could earn a higher rate of return on them, but the high interest rates made it tough for businesses to borrow two whether the hard times, and many went bankrupt as a result at the same time according to banenky, the fed also didn't do enough to protect the nation's banks leading depositors to out their savings and hoard the cash further worsening the economic crisis. The US wasn't the only country with such problems. We also spoke with within you'll Klein and assistant professor of economics at the university of Redlands an expert on economic history. He said the gold standard helped things along by limited in the policy responsive nations around the world. Things like lower interest rates, and government deficit spending or made much more difficult. In addition, while Great Britain, provided global economic leadership before World War, One after. The war, the US, essentially, refused to lead despite being the new center of the world economy. Fortunately, this is one area where policymakers learned their lesson Klein said in the end countries dropped the gold standard and many engaged in deficit, spending, and monetary policy, and the US established its leadership under the Bretton Woods agreement about nineteen forty four packed created the World Bank, and the International Monetary Fund as well as eliminating gold standard internationally. On the other hand, as a candidate Donald Trump said that bringing back the gold standard, quote would be very hard to do. But boy, would it be wonderful as president, he considered nominating to the fed board, Herman Cain, who wrote in two thousand twelve in the Wall Street Journal that the dollar should be redefined as quote, a fixed quantity of gold, though. In a recent interview Kane backed away from that position. And Stephen Moore and other past gold standard advocate told CNN that he now favored, petting the currency to a quote, whole basket of commodities both later withdrew from consideration in the face of political opposition. One of the other big factors that led to the depression was trade wars, the smoot-hawley act, which was written in early nineteen twenty nine when the economy was still going strong but became law after the Wall Street crash raised US tariffs by an average of sixteen percent. The idea was to keep other countries from hurting US manufacturers by flooding the market with lower priced products. But when those countries responded by imposing their own tariffs result was a ruinous, global decline in trade, the deepened and lengthened the great depression, that bit of history, worries many people today due to President Trump's fondness for imposing tariffs in an effort to protect us industries. So many of the factors that contributed to the great depression are still risks whether they will ever combine an economic perfect storm is a harder question to answer.
Economy added 263,000 jobs in April
"This morning's announcement of April unemployment is where we start two hundred sixty three thousand new jobs added to this economy last month, the employment rate fell to three point six percent. A generational low has to be pointed out on a Swanson is that the New York Times k Davidson is with the Wall Street Journal here to fully contextualized the past five days in this Konomi, everybody. Hake kay. Let me start with you. And this every time, and and certainly we've said it here. But every time the judge board has come out in the last guy. It's got to be like a year. We have said, oh, we're at full employment. This can't possibly go on any longer. And yet every month. It keeps going on. What gives amazing? Well, I think that I think that it's a sign of a couple things one seems to be that there are just more people out there. The the the economy because it's so strong right now is continuing to draw workers off of the sidelines. Now this month report showed a perhaps a little bit of a dip of the participation rate went down for the second straight month. But more broadly as you said over the past year or so that rate has been doing well, and I think that, you know, we've been hearing from employers that they're having a hard time finding workers in that low unemployment rate means would suggest as you said that there just aren't that many more people, but they're coming in. So they're being attracted by a couple of things, I think wages have we just wage gains have been much stronger up three point two percent in April come from year earlier. So yeah, it was a pretty strong report on a let me ask you this. And this is a large contextual question. But it does seem to have been a. A five or six day period of conundrum in this economy. Right. We got gross domestic product last week at three point two percent. We got jobs today. Really nice. Inflation came out on Monday Tuesday. It was really low the feds hanging on there's something unusual happening. Yes. Yeah. Absolutely. So this combination of super low unemployment, and and hike growth and low inflation is not really supposed to be possible. So when unemployment drafts this low job creation should should slow and inflation should surge. But we're just seeing the economy keep on trucking, and you know, the fed it's it's kind of a bizarre situation for the fed where softening inflation in straw job growth, are pointing them in two different directions. So this week the fed said it it was expected above trend growth to import inflation over time. And they indicated that they're on hold for now. They're basically on pas to see what what shakes out in this economy, so K to that. Point of Jay Powell, and the fed and them in essence on I'm gonna exaggerate her a little bit. But in essence, they're just kinda shrug their shoulders and saying we're guessing that inflation's gonna bounce back. The where we want to be around two percent, but they don't really know a little bit. Yeah. It's it's reminding me of this really funny speech from I think it was Randy quarrels on the fed. Vice chairman last year, he talked about his those trainings up those funny. But he he trained as a pilot, and he talked about how when he was starting out in flight school. They train them not to focus too much on the needle right where the dial is showing them, but they had to kinda learn to follow all of the signs and not target one direction too closely in particular, and he's he kind of said this is sort of where we what what we is officials feel like we need to do right now. And so instead of raising rates preemptively because job growth is strong and the expected to lead to more inflation, they're sort of switching their mode, and now they've gone from that to this kind of wait and see mode, and I think that that they signaled on Wednesday that they're they're pretty confident that that's working right now because of this positive data, and that was reaffirmed, of course, with Friday's jobs data. Let me take a very quick swing into the politicization of the fed on it. And then and then we'll moth the central Bank, Stephen Moore. The president's you know, floated nominee, but not officially named. To the fed board guy as withdrawn Larry cudlow said today, the president's chief economic adviser, the vice president United States also said today that they what they want the fed to do is actually got rates right now. Gimme like thirty seconds on politicization of the fed. And maybe has has this episode of mister Cain, and Mr. Moore taught the president anything. Well, I'm not sure I mean, I I don't necessarily think so because in a tweet earlier this week the president actually compared the fed to China China's adding great stimulus to its economy while at the same time keeping interest rates low. I mean, you know, the Federal Reserve is supposed to be it wide operates independently from the White House that's pretty different from China's managed economy. I think it's worth remembering that, this just isn't this isn't normal. And you know, we have seen the president's recent efforts to put his supporters on the fed failed with Herman Cain and Stephen Moore. Both withdrawing from consideration. It remains to be seen. What kind of candidate? They put up nex. Oughta let me stay with you for a second. Since you mentioned China. I do want to draw on your trade expertise, which is your beat at the times sexual nation. And Trade Representative Robert lighthizer have been in Beijing this week doing what one assumes will be the the very hard last few things in a US China trade deal. What can you tell us? It does seem like the administration is emphasizing that, you know, the the president could still walk away. He's ready to do that. But we could see China deal as early as next week. And you know, it does seem like it'll leave some of the Trump administration's goals on the cutting room floor like subsidies, cyber theft, data restrictions, but I think you can also credibly make the argument that President Trump is getting more here from China than past administrations have done. I mean, I think the big question for me is whether we should declare victory here for the more aggressive trade strategy and general, and you know, what the question is. What comes next? I mean, the China agree. Might still be setting us up for more tension between the two countries. If tariffs are brought back into the relationship. You could see a tit for tat tariff war kind of follow quickly here to an agreement.
"stephen moore" Discussed on 760 KFMB Radio
"Even more joins us our official. Economists more backs out has fed candidate is the above the fold headline remember newspapers. So this fed and things seemed like a good idea until it wasn't what happened if it's degenerated immediately into insults and personal smear campaign against me or documents and humorous pieces. I've written twenty years ago. Mitch s was day after day after day today lose I mean, the left is very well organized at the point where I just didn't wanna look at my emails in the morning. What's the latest women? I hate blacks eight you, Jim seven sixty talk and breaking news. The good person. Oh, that's a shame that Steve Moore got kicked out of the fed running. Because of stuff he's Britain in the past, which is really nothing. Eric who was the? I thought the story Herman Cain. Okay. Remember, Herman Cain? Herman Cain, Herman Cain, twenty twelve. Right. Yeah. Yeah. Yeah. What was that one eight eight thousand eight twenty twelve twenty whatever. So what's right with the pizza? What was his big policy? Oh, it was something. Flat tax wasn't your coughs. Close 'cause it's never on the. There was a certain type of tax plan that a nice catchy name to it. Oh, man. It was a certain number. I don't remember blank blank blank plan. No. It's not ringing any bells. I've got no. You did really good so far, but probably would pizza nine nine nine. Forget what it even was nine percent income nine percent sales nine percent corporate. Maybe something like that. Yeah. If it would work, but it doesn't just sound like a lot simpler. Yeah. I like the premise of it, and whatever, you know, right? A worthy conversation to have. Breath unwrapping, I'm the last segment here. I got an idea. Herman Cain because Stephen Moore was supposed to be fed chairman, and he took his name out of the running and Herman Cain was one of the other guys. I'm a red line about Herman Cain being nominated for. The Federal Reserve Board chuckled a little bit at it. Why Herman Cain all the people got Herman as Fox News. And then they're always articles like people like all it's the most ridiculous thing. Trump's in idiot. Bubba Herman Cain was here. This is Paul Krugman called Cana clown an incompetent dishonest hack, outrageously irresponsible pick. Yeah. Whatever hurricane for two years was the chairman of the Federal Reserve Bank of Kansas City, and then the deputy chairman for two years before that. So I'm looking hurricane. I think our pizza guy. Funny, kind of quirky candidate nine nine nine tax plan. Weirdo guy, who's now hosting a radio show. What we are always actually like one of the more qualified people for the job. Yeah. He's got experience in that particular job. Yeah. So it's funny. How things can be framed. And you get good people like Steve Moore who get kicked out because people only because we got you got to blow them up because he agree with them. Yeah. That's going on the economy is absolutely on fire. Best since nineteen sixty nine best for women's nineteen fifty three. Best jobs, look picture, sixty nine. And this is outstanding. I mean, this is so great the last thing that they had was the taking of the economy, and they didn't get it. So I don't know what they're gonna do now to Blasio's getting in the race next week, right? Wow. Why who's devising have on people are calling? He he is he's he's jumping in the race next week. So this is just this is phenomenal. I mean, this is this is going to be great. We are. You're just gonna have nincompoops dopes and reprobates on parade when it comes to economic. Any of them any of them is. Okay. So these numbers, but what are you doing surpass them? You have no excuse if you're not working in this Connie. The those numbers are only benefiting the wealthy. We need everyone to feel good. Growing a very good point. There are so many hedge fund managers working in manufacturing these days. I mean, it's a remarkable. They're the ones truly give me a break..
"stephen moore" Discussed on KLIF 570 AM
"I'm gonna make it through this process. And we have one other person he has to put on that board Nansen interview. Stephen Moore did for ABC's this week on Sunday. Now, he's withdrawn himself from consideration for the Federal Reserve Board. Bob Costantini, live at the White House with more on why he made the decision morning, Bob. Only the realization of a reality that again, the reading tea leaves whatever he wants to Stephen Moore founded the club for growth fiscal conservative person and the president. Apparently, there's already pull him from consideration whatnot nominated to sit on the federal or board. But he please. Writing. So the previous comments is raining than didn't necessarily -sarily believe in democracy thought that leaving capitalism was much more important than believing in democracy and things about women came back to sort of onto him in this and almost immediately by the way, once the president had tossed up his name as a possible nominee for the Federal Reserve for an Ally McCoist Africans in the Senate where he would have Luton firms decided that they could not support him onto female senators in particular. Made shows the fact that they would not support him because of his past writings some national review online regarding women he didn't like women commentators on sports programs. He wouldn't let his weight father. And during the basketball how it's basketball season some of those things that he said, well, just two thousand. The way we'll all ingest about a lot of that has come back to be problematic for him to the point where he just decided he wasn't that have the support in the Senate to be approved. All right, Bob. Thank you very much. And appreciate it. And have a good weekend. We this the in this day and age you cannot send to a high government position in Washington. If you have at anywhere in your past skeletons in your closet considered. What might have been considered? Okay. At the time. It's not is not okay. Now, he was making making fun of women as he said, or, you know, saying he doesn't like women sportscasters. Well, that might have been generally accepted shrugged off at the time. But now that don't fly. Lori lock Glenn. And her husband Mosima are looking for another fixer. I got him in trouble right to high level crisis management executives told CNN that they have been approached by the couple to improve their public image in the wake of the college admission scandals, you gotta know what a high level crisis management executive is. But it you tell me it's like PR tries to clean everything up. Yeah. Lachlan has been having some preliminary talks with some top crisis management firms on what she can do to change the public perception. One of the executives told CNN, I truly believe she thinks she's not going to serve jail time and return to work. I don't think that's gonna happen. What she she doesn't seem to have a firm. Have made is going to do jail time. And she she did it she won't do anywhere near as much time as Lachlan most likely this executive said Martha Stewart's comeback after her legal troubles were they talked about that in their conversations, and that Lachlan is agonizing out how to repair her reputation. It's killing her squeaky clean reputation. She apparently reads everything that's written about her. Well, that's the first mistake there. He's already thinking about how she can turn her image around. Why can't find any fault with that? Just you shouldn't have gotten involved in paying some guy half a million dollars to do something on the hand cheese. Okay. Yeah. Martha Stewart discount. Just kind of came back that you know to prison you see her walking along the fence line, picking flowers telling people how to clean their bedding and stuff like that. It is eight forty five. Let's get an update on traffic.
"stephen moore" Discussed on WSJ What's News
"Now, that's news. That's a big scoop. So, you know, the reason that he gave through this PR firm was essentially, not the real reason he mentioned unrelenting attacks on him and his family. Yeah, I'm sure that there's played into it. But what he mentioned to me was there was a lot of opposition from Republican senators to his candidacy, I think what typically happens in these scenarios is the White House. We'll have a Frank discussion with the candidate for an appointment about their odds. And typically they will make the decision to withdraw now. Mr. Morton say that he had come to a definitive decision last night. But he said he hadn't spoken with Larry cudlow since last night. And then Trump tweeted today that he withdrew so we don't know what happened in there. But we do know that he wasn't being entirely truthful when he said that he was not pulling out, and you mentioned the Republicans. There. There was enough Republican opposition to Mr. Boorda's sink this nomination or this plan nomination. We had half a dozen senators or so expressing concerns in the case of Herman Cain few weeks ago. We actually had four Republican senators going on the record saying they would not support him which was enough to sink the nomination in Mr Morris case, it didn't quite get that far. But there was a lot of concern being expressed. Which again at the stage is not a good sign. And this was another setback for President Trump. You know, this the second of two fed nominations are intended nominations to go down. So one point that a few observers had made was that in abandoning the conventional White House nomination process where you go through a shortlist of candidates, you vet them, you talk to people on Capitol Hill about their confirmation chances before you actually name them. Mr. Trump actually came out with two guys who had a lot of baggage Herman Cain and Stephen Moore and had from the get-go very low chances of actually getting confirmed. So. Yes. It was a setback. Mr. Trump's hopes of placing political allies on the Federal Reserve, and we've spent a month and a half on these two nominees and at the end of it. Mr. Trump isn't getting either one of them Paul the pick of Mr. Moore was controversial from the start. Tell us why. Well, he's he's got a lot of economic fuse that are well outside the mainstream as called for returning the US to the gold standard, and he's had a lot of inconsistency between two thousand ten and two thousand fourteen or so in the US economy was weak. He had argued against a quantitative easing argued for basically tighter policy at the Federal Reserve never the economy is strong. He's been arguing for looser monetary policy at the Federal Reserve, the only thing that's changed since then was in two thousand eleven twelve thirteen a democrat was president and in two thousand nineteen a Republican president. And he's also got some personal baggage. You know controversial articles on women and some personal financial issues. Yeah. He kind of made a career for himself writing these politically incorrect columns for the national review and other publications in which he kinda made inappropriate disparaging jokes about women again because he wasn't vetted by the White House before he was named..
"stephen moore" Discussed on WSJ What's News
"Facebook is recruiting banks to help it with the effort, but the barriers are high. Crypto currencies have a relatively niche status and Facebook battered, reputation amongst users and regulators certainly doesn't help and Baltimore mayor, Catherine Pugh has resigned over a book scandal. Here's her resignation statement as read by her lawyer for the harm that I've caused to the image of the city of Baltimore and the credibility of the office of the mayor. Mr. you made more than five hundred thousand dollars selling herself published children's books, they were titled healthy Holly to companies, including some that benefited from her official actions were reporting that the resignation is a stunning fall for miss Pugh who up until this year seemed poised to run for and win another term. Now, our main story this morning Stephen Moore yesterday, he withdrew his name for consideration for fed seat. That makes him the second person to officially withdraw after President Trump said that he would prefer to nominate them for a seat on the fed board to get the backstory Charlie Turner spoke with our reporter Paul Kiernan from Washington just a half hour after Paul was speaking with Mr. Moore himself on the phone, President Trump says conservative commentators Stephen Moore has withdrawn from consideration for position on the Federal Reserve Board. Mr. Trump tweeted, the news of Mr. Moore's withdrawal. But didn't say why Mr. Moore changed mind? Let's get details on this from Wall Street Journal reporter, Paul Karen who joins us via Skype from Washington, Paul first of all this came after Mr. Moore, abruptly changed his mind, didn't well, I dunno changed. His mind is the right way to put it. I spoke with Mr. Moore a little while ago half an hour ago, or so, and he actually told me that. He and Lawrence Kudlow, the White House. Economic adviser had basically decided to withdraw him from the fed candidacy last night..
Stephen Moore withdraws from Fed consideration
"Now, our main story this morning Stephen Moore yesterday, he withdrew his name for consideration for fed seat. That makes him the second person to officially withdraw after President Trump said that he would prefer to nominate them for a seat on the fed board to get the backstory Charlie Turner spoke with our reporter Paul Kiernan from Washington just a half hour after Paul was speaking with Mr. Moore himself on the phone, President Trump says conservative commentators Stephen Moore has withdrawn from consideration for position on the Federal Reserve Board. Mr. Trump tweeted, the news of Mr. Moore's withdrawal. But didn't say why Mr. Moore changed mind? Let's get details on this from Wall Street Journal reporter, Paul Karen who joins us via Skype from Washington, Paul first of all this came after Mr. Moore, abruptly changed his mind, didn't well, I dunno changed. His mind is the right way to put it. I spoke with Mr. Moore a little while ago half an hour ago, or so, and he actually told me that. He and Lawrence Kudlow, the White House. Economic adviser had basically decided to withdraw him from the fed candidacy last night.
"stephen moore" Discussed on WSJ What's News
"You might know ADP as the biggest name payroll, but that's just the beginning. Because ADP is transforming the way great work gets done with HR talent time benefits and payroll informed by data and designed for people. That's ADP always designing for people. Stephen Moore withdraws his name from consideration for fed seat. Mr. Trump's pokes of placing political allies on the Federal Reserve and just how many jobs were created in April. Here's our guests economists that we survey expect that about one hundred ninety thousand jobs will be added Facebook is building a cryptocurrency payments system. This is what's news from the Wall Street Journal. I'm can get us in. Let's get started. Now before we get into our main story this morning. The tumultuous non nomination of Stephen Moore into a seat on the Federal Reserve's board. Here's what you missed. There were two big stories that had to do with Facebook which broke late yesterday. The first is Facebook's announcement that it would ban personalities whose views it deems to inflammatory to be shared that included the far right talk show host Alex Jones, Mr. Jones apologized in late March to the parents of the sandy hook victims for saying that he thought the shooting was a conspiracy. Wrong. But they were never wrong consciously to hurt people to move to ban Jones, and others comes as Facebook tries to be more proactive about removing controversial content. However, some of the people who were banned said the move constituted censorship separately. Here's a new one for you project. Libra that's the secret code name for a project within Facebook to help launch a cryptocurrency payments system..
Stephen Moore, Senate And Trump discussed on The Opening Bell
"First of all Stephen Moore has withdrawn his name from consideration for a seat on the board of the Federal Reserve, President Trump intended to nominate more Trump tweeted yesterday that Moore is a pro-trump a great pro growth economist and a truly fine person. But a number of Senate Republicans expressed doubts about his qualifications and controversial past comments, especially about women and child labor. The Senate responsible for confirming any presidential nominations to the
Trump's Federal Reserve Pick, Stephen Moore, Withdraws Nomination
"Conservative commentator, Stephen Moore, no longer under consideration for Federal Reserve Board post, President Trump tweeting more deciding to withdraw from the process became a kind of character assassination. I think in part because the left understood they couldn't eat night that he is more in an interview with Neil Cavuto on FOX business network's Komodo coast to coast, I feel bad because I feel like a lot of people are another president. Most of all
Stephen Moore, President Trump And Sarah Sanders discussed on Overnight re-air of day's programming
"Sarah Sanders is the White House press secretary with reporters today in the White House driveway. There was a question near the end about Stephen Moore potentially being nominated for spot on the Federal Reserve Board and Sarah Sanders said we're going to move forward with that. A couple of hours later, President Trump tweeted that Stephen Moore has withdrawn his nomination in the tweet the president described as a great pro growth, a communist any truly fine person Associated Press notes that the withdrawal comes after losing Republican support in the Senate largely over his past inflammatory writings about women and the democratic leader of the Senate Chuck Schumer put out a statement, saying, I Cain, referring to Herman Cain. Also, not going to be nominated now more. Thank goodness. Neither were actually nominated. The only thing less funny than some of Mr. Moore's casteless offensives, sexist sexist jokes with the idea that President Trump would even consider him for a seat on the federal.
"stephen moore" Discussed on KTAR 92.3FM
"Or to his liking. Stephen Moore has withdrawn from consideration the nomination in trouble. Since the president announced it in March election sparked backlash several Republican senators publicly expressed concerns about Moore's nomination amid controversy over his past writings and statements about women more insisted in an interview with the Wall Street Journal Thursday morning that he was not pulling out of the process ABC's. Karen Travers with Kerman canes dropping out earlier. This is the second time in two weeks. The president has lost a fed nominee after attorney general William Barr, refused to show the House Judiciary committee made contact with special counsel Muller's team about getting him to appear during Wednesday's Senate here, and it was divulged bar knew about mothers criticism of bars summary of the Russia report, but didn't tell house speaker Nancy Pelosi says that opens bardo impeachment attorney general of the United States of America is not telling the truth to the congress of the United States. That's a crime the Justice department called the comment, reckless responsible and false. The government reports on April unemployment on Friday optimistic economists expect to see creation of one hundred eighty thousand jobs, we've been getting wage growth along the lines of three percent. Plus that's a reasonable expectation with the job market as tight as it is right now Bank rates. Mark hamrick. Unemployment her three point eight percent. They've been waiting for seventeen years the cicadas. Brewed eight or about to emerge in western Pennsylvania. Parts of eastern Ohio on a small swath of West Virginia. They're quite the site with those bulging red eyes loud too that mating song, but they're harmless. Existing only to mate, they die shortly after mating. Their orphaned progeny will head underground emerge next in twenty thirty six. You're listening to ABC News. Arizona's.
President Trump, Federal Reserve Board And Herman Cain discussed on John Hancock
"President Trump's pick for the Federal Reserve Board is out as his support in the Senate falters. Numerous GOP Senator said they objected to Stephen Moore's disparaging past writings about women, which more conservative commentator wrote off as temps at humor. Trump's other fed board pick Herman Cain withdrew recently over past allegations of sexual harassment and
"stephen moore" Discussed on Bloomberg Radio New York
"Began Stephen Moore declaring the morning that he was all in as President Trump's choice to join the fed board of governors despite stiff opposition even from Republican lawmakers on Capitol Hill. Just because a Senator today says they won't vote for me doesn't mean free months from now they want that it's going to be a different world in two or three months from now when this comes up by this afternoon, he had withdrawn from consideration complaining that there were unrelenting attacks on his character that were untenable the president announced his withdrawal, by way of Twitter. President Trump invited religious leaders to celebrate the national day of prayer with him. Bloomberg's Irv Chapman reports from the White House. The president denounced the perpetrators of recent violent attacks on houses of worship around the world and brought on two men who pursued the gunman in powei, California. And the rabbi we will fight with all our str-. Strength to defeat anti-semitism to end the attacks on the Jewish people and to conquer all forms of persecution intolerance and hate the president also told the faith leaders he was amending regulations to allow physicians and other health professionals on charities to avoid procedures that violate their religious beliefs such as abortion at the White House, Irv Chapman, Bloomberg radio. House. Speaker Nancy Pelosi is asserting that attorney general Robert William Barr, I should say as committed a crime by lying to congress at a news conference today. Pelosi ramped up pressure on bar who boycotted a house hearing. But testified for several hours yesterday to a Senate panel about special counsel, Robert Muller's report.
Pressure On China To Agree To Trade Deal
"Radio. Even though we have a lot of liquidity offline from may happy made if you are taking today off there still some selected assets that are trading and some important events to look ahead to US equity futures advancing then he had apples upbeat forecasts. Traders expecting lower volumes throughout the day. Then bit of movement coming through in terms of US equity futures higher. You've got a bit of movement on the ASX two hundred straight up about eight tenths of one percent. Other than that. It's pretty quiet on the equity side in terms of the handover overnight. We did have course, they Tekere innings more generally with apple but also a little bit of a well, it was a weight on the shoulders from Google corporate earnings and develop the trade conflict between the US and China remain front and center, that's for sure I mean, running through some of the currency pairs here. You're looking here the Bloomberg dollar index. That's just barely about the flat line here quiet on the Major's front. So I mean, pretty much all of these pairs unchanged. Eurodollar one twelve twenty Donnie in one hundred and eleven fifty and cable is up less than a tenth of one percent. Short of one thirty fifty five commodities are on the pressure a little bit. Brent crude Coney down six tenths of one percent. We have higher inventories out of the US and the initial data overnight. Gold is lower by three tenths of one percent. So the metals on the pressure let me run through some of the news as well. In terms of the corporate earnings because we are getting of course, quite a few fast and furious start off with Sainsbury's fiscal year revenue at twenty nine point zero one billion pounds. You're looking here at fiscal year sales of thirty two point four one billion pounds to final dividend. Shares going to be seven point nine Pence. Few notes on guidance year Sainsbury saying the consumer outlook continues to be uncertain and that they are well-placed to navigate the external environment. So that's on the Sainsbury's front more retail input from next currently first quarter retail sales coming through a negative three point six percent. The market was looking for actually more of a contraction here down six point two one percents of slightly better than some of the analysts had pencilled in. I go to online sales eleven point eight percents the estimate heroes for twelve point eight percent. And so a little bit of a little bit better on the retail sales. But a little bit short of estimates on the online sales on guidance. They're still seeing fiscal year pre-tax at seven hundred and fifty million pounds and still see full price sales at up one point seven percent. And then also on the economic front. We've got some UK April house prices. They're up zero point four percent on the month. That's the nationwide. Up zero point nine percent on the years that is some economic input as well. So that's a bit of a flavor then on what's happening with these corporate earnings. Let's get now to some of the stories we're watching very carefully starting off with what's happening with the United States and China. The White House is ramping up pressure on China to reach a trade deal in the next two weeks. Bloomberg daybreak Asia anchor Bryan Curtis has more from Hong Kong, the US said once again, he would walk away from the talks if no deal, Mick Mulvaney, President Trump's acting chief of staff said negotiations would not go on forever. So the administration is making its impatience known a slight shift from the earlier more optimistic messaging still going into talks today. Treasury Secretary Steven Mnuchin said the US side had a nice working dinner last night with vice-president Leo hub, two of the quick notes. The F T says the US is likely to accept a watered-down commitment from China on security that to speed up a deal and. And Chinese regulators said today, both Chinese and foreign banks will no longer be subject to ownership caps on local banks Kong, Bryan Curtis. Bloomberg daybreak Europe. That means on world financial markets away. Today's Federal Reserve announcement on the US interest rates. Bloomberg's Michael Mckee has a preview. This fed meeting is widely expected to be a nun event except for that little possibility of a rate cut. No, not a policy cut to the fence target. But an adjustment to the rate of interest. The central Bank pays banks on excess reserves the effective federal funds rate traded a record five basis points above the excess reserves rate Tuesday most traders blamed technical rather than policy issues such as a rise in repo rates on other securities that suggests the fed doesn't need to do anything others note, though, it's been an ongoing problem and forecast a slight cut in the rake in Washington, Michael Mckee, Bloomberg daybreak Europe. And as the central Bank meant to weigh monetary policy. Donald Trump sought to pressure the fed to make drastic moves to boost and already healthy US economy in a pair of tweets Tuesday. Trump criticized the fed for having incessantly lifted interest rates and wonderfully low inflation Colfer steep interest rate cut and the resumption of bond purchases as well. The thing with the theme. The president's comments came as another political drama swirled around the central Bank on Capitol Hill Trump's plan nomination. He recalls Stephen Moore to the fed sports looks increasingly uncertain as a third Republican Senator voices downs. The story from Bloomberg's Charlie Pellett. Senator Lindsey Graham of South Carolina. A key ally of the president told reporters that Moore would be quote, a very problematic nomination, though, he has not made up his mind. Senator Joni Ernst of Iowa and Senator Richard Shelby of Alabama on Monday voice. Their own concerns about more a Heritage Foundation fellow and a former Trump campaign adviser Ernst the senate's fourth ranking Republican told reporters, quote, I am not enthused about what he has said in various articles later, Monday Shelby. The former chairman of the banking committee said he thought the proposed nomination, quote has some problems Charlie Pellett. Bloomberg daybreak Europe. That's something singing. Singapore where Mark Cranfield and markets live team joins us, Mark. Let's start off with the mlive question of the day. The fed odds in terms of the likelihood of a move very contradictory and not really in line with what we're seeing the job market. Yes. Good morning, certainly the market by some as strong as it's been since the nineteen sixties in the United States pretty healthy condition. We've also saying some pretty good wage growth as well. Even though it hasn't really fit injuring flation too much. So Fava certainly in the GDP data from Las week, as well already know the picture is pretty healthy economy. We go to started go to the payrolls not becoming up on Friday, and the fed will certainly be thinking about this as well because it probably reinforce this very strong picture of job market. So when you have that in the background certainly makes a bit curious as to why the mock is getting so excited about the polls. Not of the fed may take the opportunity to to try and rain the market back in a little bit and try and get them back more to a neutral territory because of that. Let's talk about the greenback. It's climbed against all but three of its group ten currency peers and twenty nineteen to folks at TD North America point out that any further strengthening any wheat test of some of those twenty eighteen is could mean trouble for stocks can be trouble for high your credit and currencies as well. More. Generally. You're seeing that dollar bears can return to hibernation after the FOMC run me through your thinking. Yeah. So we had a little bit of softness in the dollar towards the individual pro, and that's not unusual this month and maneuvering which goes on. And it's quite often the case where people are just have to tidy things up in the came off a little, but the fundamental case for is is pretty hard to ignore right now, particularly against the emerging market currencies. You've got short term rates in America, which are very high in comparison to other g ten currencies relatively high compared to the emerging market world. Plus as we were saying this pretty strong background of data from the United States. And they made it very. Clear it's on a long-term polls here. So he's not really going to be going anywhere. We've monetary policy at the same time. There's other countries that want to lower interest rates in in Asia. We've had India of moved already we've got to Malaysia looking at it, South Korea looking at it Philippines, Indonesia, they're all heading towards lower rates environment. So that certainly from an investor's point to you. They're probably thinking that the fed is beginning to look like a high yield currency here. So we could save it. If a rebound once the fed is out the way people start looking ahead to Friday's jobs report. It's always a pleasure catching up. Thank you for stopping buying. It's Mark Cranfield. Remember the for real time market commentary and analysis to markets. Lifelock. That's the only Bloomberg terminal. Let's get into some of the corporate news because apple their their numbers of projected quarterly sales top analysts estimates more from Bloomberg's Charlie Pellett. The reports suggest demand for iphones stabilized after a disappointing holiday period. The company also reported solid revenue. Growth from its services business as consumer sign up for a growing Schwartz board of digital subscriptions. Apple shares have surged more than forty percent from twenty one month low in early January after lacklustre iphone sales prompted the company to cut its holiday revenue forecast. So far this year. Apple is up twenty seven point two percent in New York. Charlie Pellett, Bloomberg daybreak Europe and do better as demand for all. The shares offered in its IPO just one day after kicked off throat show in London. That's according to people familiar with the matter, the ride hailing company will continue meeting potential buyers in New York and San Francisco as it seeks to raise as much as nine billion dollars right time now for the latest elsewhere in the world with Bloomberg's leeann guarantee, man. Good morning Yussef Kwun guidos gamble to take control. Venezuela appears to have flops the position need publicly called on the armed forces toback his attempts to oust nNcholas Maduro, but the military command. And state loyal to the president the US reiterated its support for quite, but it seems to have little effect. Japan has seen the first voluntary handy of the chrysanthemum throne in more than two hundred gays. Bloomberg's Crisan STI has this report from Tokyo Japan. Welcome to new emperor on Wednesday with hito acceding to the throne in a ceremony attended only by males symbolic, Hugh leader ushers in a new era Ray, or beautiful harmony, one of the emperor's first major tasks will be to entertain US President Donald Trump who arrives later this month for state visit interfere Chris Asti, Bloomberg daybreak. You're in the UK. There's around with a neighbor vets policy on another e referendum some of the party's MP's won't want an Olsen Kim stances, while others would prefer a better Brexit deal general election yesterday, the ponies governing buddy agreed to stick to its policy of simply keeping the option of another poll on the table it disappointed labor backbencher Mary Cray danger. We're trying to ride. To wholesalers on nicest. Theresa May has demonstrated over the last two years is that you end up leasing date. The country is looking to the labor party for leadership. They're looking to labour leader for leadership, and this may French police carrying out full, potentially violent protests across the country. Bloomberg's Caroline Conan reports for the first time the universe will join climate activists any traditional union marches, but as many as fifteen hundred black blocks anarchists are also expected in Paris. French president mccone came up with a new wave of reforms last tweak. The two-thirds of the French said they were not convinced in Paris, counting Kernen, Bloomberg daybreak Europe. Cable news twenty four hours a day on air take takes on Twitter,.
"stephen moore" Discussed on The Young Turks
"In K. He said, please don't make me more rich and powerful, please. And I'm going to respect his wishes rights, and then Herman Cain. This is that he was so happy that the president graciously decided tweet that on his behalf. All right, don't let the door hit you on the way out. Now, the second person in question is Stephen Moore, and he is still up for the Federal Reserve Board. So let's talk about him. Stephen Moore is one of the individuals that Donald Trump has nominated to serve on the Federal Reserve. But there's an issue apparently CNN has come across a number of articles and op EDS that Moore has written for the national review. Now, these to be fair, these op-eds are pretty old there from one thousand nine hundred eight to about two thousand three, but they say some pretty misogynistic things. And I'm honestly, that's kind of whitewashing it. Let me give you the details of what he had written. So in one of his calms for national review, more decried, the feminization of basketball, generally and wrote that it was an obscenity that a woman was allowed to referee a men's NCWA game an obscenity, so okay, there's this level where that came from going to be more coats. But so I'm look the question is did you change? So we'll. Get to the substance of that in a second. But I'm mainly greatly amused by some of his theories. Yeah. Oh, you're gonna love some of those stuff clear before before I read the rest, I want to explain why amuse for me reading the way that he feels about these issues shows just this, insecurity, and this fear that I love right? So there's a little more quality. Obviously, there's been even more progress for women since he's written these things, and the fact that he's crying and whining about it is hilarious to me. So it doesn't upset me. It doesn't anger me. I'm more amused at anything. Let me read you more is there no area in life. Where men can take vacation from women. What's next women invited to bachelor parties with which is by the way happening? Pretty sure that cut it happens parties where they're not invited. You might have gone to the wrong book. I love love one fan. Really what's nice women bachelorette parties? Okay. You correctly your mind. Correct. Went there. Right. And my mind went to because I'm a woman. So my mind went to well, you know, there are a lot of Ed a bachelor parties these days like, we're the we're the bride and the groom get their friends together and the all party. Thins? I'm just saying it's been going back through log. Knows. Stephen Moore one to I actually I like the other part of that too. Is there no place where men can take vacations for women? Well to actually are West Hollywood in LA the village in New York, it's a lot of places where you could take vacation for women else. Find amusing just giving a woman's perspective on this. So he's trying to make a point about like, oh, you know, as men. We need a break from these women. Yeah. Women need a break from you to trust me. So anyway, let me continue. Oh, yeah. Oh, yeah. So then he talks about women in combat. Oh, yeah. They've done that already. Why can't women rest the women's games and men the men's games, you know, these are the same guys who were always like America military's over one baby milk? Socials strong women have been in combat for all that time. What happened? I thought it was supposed to fall apart. Let me look one quick series point. You know, women were not allowed into certain business organizations like the rotary it cetera. And you know, what it costs them a lot of business? And so my dad was one of the people who voted yes. Allow women into the rotary because you know, that's how it was back in the day. And he's like, yes is they've come. You know, what's happened nothing? We just do the same thing we get get get together. Talking my business, we do some charity we choke Ronald little bit. And now they get to do business deals too. But like why is Stephen Moore?.
Pushback against Fed nominees Cain and Moore
"Start with the Federal Reserve and Herman Cain and Stephen Moore, the president's rumored choices he has said they are his choices but hasn't officially nominated them. Mr. Canaan seems is not getting the votes required. Mr moore. Stephen Moore, a longtime economic commentator is also in some trouble. But I want to ask you, this Republican senators are very slowly coming around to the idea that these men might not be suitable for the Federal Reserve, but they are not critiquing their economic views. They're relying instead on personal. That these two men have. And I wonder how you're thinking about that. Well, I think it's I think it's very interesting how these two picks came about they were very different the process here or lack thereof is different from what we've seen so far. So, you know, early on in the Trump administration. There were longtime fed watchers who are very nervous that the president would maybe try to put in very partisan political picks, and I would say at least initially the first round of of of nominees were fairly mainstream. And I think that gave a lot of comfort to markets into into people who worked within the fed or head, you know, former fed people that actually this is fairly typical folks drum Powell certainly he'd been there a long time views are fairly closely aligned with Jenny Yellen. Randy quarrels, rich Clarita, even the nomination of Nellie laying. She was a democrat. So that was a little bit unusual. But, but I think she was well regarded she ran into some problems. I think with with some resistance from the banking community and she ended up with. Drying. Now here comes Stephen Moore and Herman Cain in the previous process. That was run through the National Economic Council the president's advisors. They played a big role in finding candidates selecting them. And I think generally the president was, you know, not all that interested. He was happy to review those picks this time, he clearly selected these two P these two men himself announced them for the head and gone through any of the vetting so far. And I think that that that's a clear break from what we'd seen before? And I think it just demonstrates the president as we know has been frustrated with fed policy think it suggest he wants to take take the reins they're a little bit and inject some of his, you know, his own his own views in the central blank. She'll let me ask you this in and it's a semi-official question. But it goes like this what's wrong with that. Okay. And the hang on let me let me give you the part two of that question. Which is we call. It's gotta be ten or twelve conservative or right-leaning economists this past week. None of them would go on the record as criticizing these choices because we wanted to get a conservative. Say what is problematical with having the fed be politicized? So you do it. Well, visit the fed has this very long tradition of independence, and the people that will say, they're not really truly independent. I mean, the the the president in selecting nominees for the board that that is a way that that the White House does have political influence, and certainly I think if you look back at different picks in both administrations there picking people whose views presumably align with their own economic views. I think what's different in this instances, not that these two men are viewed as political, but that they're viewed as more partisan, and and also the fact that they they had they've they've really shifted their view of what is appropriate for the direction monetary policy, and their views seem to have swung based on who is in the White House. That is Steve Moore, for example, had been calling for much tighter policy during the Obama administration. Now, the economy's doing even better, and he seems to be. Supporting the view of President Trump that that the policy actually should be looser that the fed made a mistake and tightening. And and I think that if he makes it to nomination hearing. There will be LA number of lawmakers who want to hear him explain further, you know, how do you justify that shift as I think that's what gives people concern and their in laws the economic harm right because doing doing things for political gain becomes a problem. Economically, ready think the fed the fed would say that that their goal is to do. What's best for the economy over the long run? So obviously, you know politicians have different interests. So we have an election coming up in twenty twenty if the fed I mean, I think the fed is signal that they're they're done raising rates for this year. And who knows if they'll raise them again before the before the next presidential election. But, but obviously, I think folks in the White House would like to continue to see robust economic growth, and they really don't want the fed doing anything that might slow that down. That's where this sort of natural conflict comes from
Four Republican senators say they'd vote 'no' on Herman Cain
"We begin today with a math problem. A political math problem in some degree. Yes. I will grant you this. But one with an economic kicker Republicans control fifty three seats in the United States Senate as the politically inclined among you will know nominees to certain federal offices require fifty one votes to be confirmed. So if say four Republican senators decide they are not going to vote for giving nominee that person's Pathak confirmation becomes difficult. And that is where retired pizza mogul, and friend of President Trump Herman Cain finds himself today mister Cain. Also, a two thousand twelve presidential hopeful in a holder of unorthodox economic views has been floated by the president as a possible nominee to the Federal Reserve Board of governors today. As I alluded to a fourth GOP Senator came out and said, he would be a no on mister Cain. The official end from the White House, by the way in the person of National Economic Council director. Larry cudlow just this morning is that the White House still supports Mr. canes nomination. Not in the news so much the past couple of days as mister Cain has been getting all the heat or the controversies both political and personal and economic surrounding the president's other potential nominee, Stephen Moore, who you also might have heard of
"stephen moore" Discussed on On Point with Tom Ashbrook | Podcasts
"What makes Stephen Moore and Termine Cain? Very different. It is in the first place. Neither of them appears to have a particularly firm grasp on the details of monetary policy or on financial policy or the other areas that the fed concerns itself with and second both have been explicitly political in their views of monetary policy. They've advocated for the fed to make borrowing easier and less expensive for the purpose of supporting the president's economic agenda. They've made clear that they've you. The fed is a political institution that ought to serve the White House's short-term interests. That's a big departure for for the central Bank. And with specific regard to Herman canes claimed that experience it's really important to understand the role that he actually played at the Kansas City fed the Fed's regional banks have advisory boards comprised of local business people who get to come in infrequently have some coffee have some Danish here little bit about what's going on at the Bank. No, one should be under the impression that Herman Cain was playing a role in creating monetary policy. I see so important clarification there. I was gonna push you on that. Because he keeps talking about his service to the Kansas City fed. But Diane Swonk Binyamin did also say that in previous years previous administrations there have been economic technocrats on the fed board that also shared the president's ideology. Now. I mean, let me just press you on this. How is that distinctly different from what Stephen Moore and Herman Cain might be bringing to the fed. There is there is in the history. And I think it's important in Vigna really did under screw that. You know, they were still people who were experts in their areas. Maybe experts in regulatory changes, maybe they are ninety Yala g that matched up more with conservatives or an ideology that matched up more with liberals, but they still had something that was an expertise. They brought to the equation. So they still tried to make decisions that were independent not just for the whims of one person in particular that head appointed them, and I think that's very important to delineate. Now are there times on we've really? Sort of had lost control and lost complete independence of defend. Yes. There are times. You look back at the Nixon years and Nixon used ill and Greenspan who was helping the Nixon administration not working for it at that time, but still helping them and they had him deliver a message in Lordy, Lordy. There are tapes. The Watergate tapes revealed it that the Nixon administration had pressured the Arthur burns who was then chairman of the fed to ease up on monetary policy and ensure his reelection campaign in nineteen seventy two Alan Greenspan, actually as as went to his former mentor ill in burns. And let him know. Hey, you need to ease up or they're going to destroy.
Firefighter among service members killed in Afghanistan bombing
"Two of the three marines killed in a roadside bombing and ghanistan were from our area. The Pentagon confirming Tuesday night twenty five year old corporal, Robert Hendricks is among the dead marine from locust valley on Long Island killed alongside of stamps. Arjun who was called Bank service from his day job with the F D N Y, he bravely wore to uniforms as marine and for fifteen years. Chris Lutman was a member of the F D N Y. Stephen Moore was Chris's captain ladder. Twenty seven Chris was always individual just wanted to go above and beyond. He wanted the next challenge just his personality firefighter. Bobby Eustis road alongside Sluman Chris was phenomenal firefighter in phenomenal a man altogether. Everything he did he did it to this upmost Forty-three-year-old staff sergeant was among three servicemembers killed in a roadside bomb attack. Monday in Afghanistan is survived by his wife, Shannon and their three young
"stephen moore" Discussed on News-Talk 1400 The Patriot
"One live left that I'm going to fill it in a nano second right now because I'm gonna ask a question about I don't know who he is. I follow him. He's roby. Stop Bach on Twitter. We have to find out who use any. I've just read tweeted something he's got. This is. Beta Beato Roque has just said the following seeking to ban people of one religion what other country on the face of the pennant. Does that kind of thing? And he off he points out what I'm gonna put out the fully nobody is banned from coming to this country because of their religion, nobody, okay? The seven countries identified by the Obama Obama regime as hotbeds of terrorism had that access to America suspended, temporarily not religion, and then Robie ads this priceless. Beta doesn't know that is Rayleigh Jews of banned from fifteen Muslim countries and another eight ban anyone who's ever visited Israel. So I'm off the question who's the big imbecile ocasio Cortes Obeida Beato? That is your question of the day. I know I know it's a toughie. But that's all question. Eight three three three three golca eight three three three three four six seven five two. We have a guest in the ACC, we do this rally. But when it's important we break own rules because hey, we wrote them, and it is Stephen Moore follow him, Stephen h mole. He is the author of Trump a friend of this show. He isn't a communist with the Heritage Foundation. The mothership of conservativism he writes, the wolves regional and guess what? Ladies and gentlemen. He must be doing something very, very, right. Right. Because the left are coming off the him. They are smearing him in the last two days in disgusting ways little bit like the way, they smeared me and my family when I was in the White House. Could it be perhaps even related to the fact that the president has nominated you to the board of the Federal Reserve could that be a connection? Thank you so much for having me on the show. I was so honored when I got this. Call and congratulations congr- we have when we heard that. We were very excited. For all that Jackson personal on. That. An amazing the well-wishers I'm just so gratified for all the people said things about maybe the people said pretty pretty nasty things. But, you know, here's my point about this that, and you know, you can you want the same thing. I don't have any problem with anyone challenging economic ideas. Bring it on. That's why wanted this job. I wanna lively debate about how to create jobs out of crate price stability, how to make our economy works. But what I will not tolerate is these personal insults against me. Smear campaign looking divorce wrappers and things of that. I I I don't want people to read this stuff, especially because it's coming from the God in the most Comey rag in the UK possible, but you have been nominated to the Federal Reserve. So what's what what what are they doing digging through your divorce records and talking about what receipts were laying around your house, and who want t shirt, I mean, the point is key. Let's talk about policy county, Stephen because they'd lose that argument. And they won't. And so that's been what's been really frustrating to me Sebastian is that you know, I wanna I wanna talk about the canonic I worked as as you worked at senior security analyst for president. I worked with one of the senior economic advisor them damn proud of what we've got. I mean, you've got the jobs report today that had a hundred thousand jobs. I mean, I saw the president couple of weeks said Mr President stopped breathing somebody down. We don't have enough people to vote. But let's not forget the other detail not only two hundred thousand jobs created in one month, but whose wages are increasing. The mazing your number Sebastian a couple of weeks before the election. It was it was Barack Obama or said, you know, he's got great jobs and bring all these jobs back, you know, and greed, manufacturing jobs. I was gonna do that wave. A magic one guy. Where we are. Now, you the one who gave him his one. Is it you Stephen Moore was that you. Did you give him that? Magic one somebody that. For me. Just I mean you, and I talked about this so much during the campaign when you replace a community organizer where somebody who actually the business has actually done a payroll, right? He's actually met a payroll, right? Shoutout Herman Cain. You may have seen. He waits for the s he's been appointed for the report and boys the left wing. How can they be on that they don't have PHD's economic? The only thing economic trouble. The only thing the only thing that could be moved out and people did this off the ambassador Haley step down. And they said Gorka should be UNM Bassett. I mean, that's the same kind of the UN would have caught a flame. If I'd step into that building. But having you in home and going to the fed. Know, the loves you. And I just think that this guy is, you know, with the economy, and can you really I the Trump was going to be successful. But I didn't think it was gonna be like. In us. Not even Reagan was able to do it that quickly. I have one question for you. That's talk about economics. Does lots of theories out there right now to why the president has given Mexico a year to fix things is it is it because he wants to guarantee that the economic growth continues on feted was that the issue is their connection is an economic argument behind his decision. Do you have a sense even more? On the border. Yes. Yeah. Well, look, I'm an economic not a security guy. Obviously, I agree with that we have to score border. But also, I mean, we do a lot of commerce with with. I've been down there on the border a couple of times there are many areas of the country and in California, Texas that that depend on the commerce between Mexico and California. So I think it was you know, I think this guy master negotiator. That's one thing that right? I mean, you wanna understand down south? You gotta read the book. This guy knows the of the deal. And I think he was basically telling them actually get your act together. We're gonna show just he's doing by the way, if you noticed Sebastian. This is exactly what he's doing China. Leverage to get a good deal. I think we're gonna get good deal China. And by the way, you think the enemy strong now. Wait till we get the yield on with China. Well, van if I may this is we we don't quote them. I don't think we've ever quoted in three months, but this one New York Times, China has banned all types of feno now that only happened because of Donald Trump nobody else. Of course. I mean, he using used to say to me, and we can't trade with China. We sneeze if they catch Ray without today catch pneumonia, and he's using that leverage to get a better deal with China. I I don't free-trade guy. I disagree with them. You know in some of those I'm not a big deal since but I'll tell you this. I love what he's doing in terms of getting China. I think most Americans agree that China has become a major problem for the American economy. They cheat. They steal that. We're in a Beauce of relationship, and he's the first husband and lifetimes stance ODA till Beijing and say, no more, and you know for that. I completely applaud and getting up your free trade potentials, no free trade with the country that she steals, right? Yeah. Absolutely. I look I discuss this in my book, why we fight China is the only strategic level threat. We face will deal with all the others, but they wanna take us down. And this is the first man since Henry Kissinger who was read them the right? Act and rightly so we have been talking to Stephen Moore follow him on Twitter at Steven with Stephen M,.
"stephen moore" Discussed on WLAC
"We have is our chef coming in tonight. Yeah. Pat said that he would eat his underwear if veto of better wins. And it's the only reason why I'm considering maybe voting for Beto just. Not a good idea. It's not a good idea. It's not worth it. It's not worth it. But if he does win we do have a chef here preparing underpants in in many different many different cuisines. So we're going to appropriate somebody's culture with underpants. And Pat might eat them tonight. So a very different broadcast. The you don't wanna miss. Yeah. Maybe a tad different than we're going to get on MSNBC or CNN, although watching wolf Blitzer interact with three d graphics is. It's tempting. It's always tempting to see that or their panels. I love their panels to they have CNN. They always have the panel of like ninety one people, and it's really long table. And at all of them say like three words, and then they have to move onto the other person. And there's usually one person in there who can even tolerate Trump, right? Like, there's one person who doesn't think he's the worst person on earth, and they get I was listening to his last night. Stephen Moore was on. And they're talking about the economy and you hear like there's six other panels each time, you get a point it. They let it breathe they finish. It's two paragraph point the next person goes onto another in-depth point Stephen mortgage off one half of a sentence about how the economy's good and they all jump all over him cut him off. And don't let them finish every single time. Stephen moore. Yeah. Amazing. You know, it's like it's like the view with forty of them. Yeah. It's.
"stephen moore" Discussed on KTTH 770AM
"Straight talk with Stephen Moore, by the way, and it is interesting to talk to conservatives in business conservatives who were skeptical of Trump at first and one of the main reasons they were skeptical of Donald Trump was his immigration policy. Well, the more he stresses it the more mainstream. I it seems what was unthinkable a few years ago the idea of birthright citizenship. Nobody was willing to even challenge that president. Now says he might strike it down with an executive order. I would guarantee you that would be knocked down by the courts or challenged by the courts. But I think what would need to happen is we have to take it all the way up to the supreme court and see where it goes because I'm looking at the original. All the original information about the fourteenth amendment and the idea that it called for birthright citizenship to me seems ridiculous. Here's Chuck Todd. It is what it is. This is the last week of the campaign and for three weeks. Now, he has. Tried to get immigration as the front page story. And when other things get in the way, he's complained about it. As he did during the pipebombs. And so you do feel as if I tried I'll send troops to the border. Oh that doesn't got it on the front page. Now. It's like now, I wanna try I write citizenship. Maybe that will. I think he's desperately looking for a reaction on the left to fire up the right on immigration. We'll save a work feels like throwing mud at the wall. Feels like throwing mud at the wall. Do you think it is? Do you think it is all obviously the? The president. I would it would be wise to bring up issues that people care about before amid term election. There's a reason the Democrats are telling their candidates don't bring up immigration because the mainstream of America is more with the so-called extremists Donald Trump. That's what the how the the press paints him. They're closer to Trump on this than they are to Democrats, otherwise Democrats would be running on it. So that makes sense. Is there anything wrong with the president pulling out this issue and stressing it before an election? I don't know. Here's Donald Trump. When you look at that, thousands of people somebody said, you know, now that when they build it down. I'm pretty good at figuring out. How many people thousands and thousands of people in the bridge when you looked at that bridge loaded up with people that's called an invasion of our country. Okay. That's a word that people are when they use the word invasion. He's dehumanizing people. Well, is that dehumanizing? I mean, an invasion. It's a it's a descriptive term. What is what's happening with this caravan? What is it? Why does it become organized once a year? And then in an orderly fashion comes up toward the border. It's not an organic thing. Just you know, people who happen to be fleeing violence from their village, and they ended up collecting people along the way. No, this is organized by groups that want to increase the movement of people from South America to the United States of America. Right. Is that some kind of conspiracy theory that some people would call that say, oh that guy's doing a conspiracy theory. Donald Trump says they're wasting their time. What do you think of this? When you look at that caravan of largely very, you know, big percentage of men young strong, a lot of bad people a lot of bad people in there people that are in gangs. We don't want them in this country. If they wanna come into the country, you have to apply like other people we have millions of people coming in. They're applying. They're coming in legally, we have a very strong border. I called up the military. This caravan is not wasting their time says the caravan is wasting their time. Well, what we're going to see is if they get the caravan at the border, and he institutes the things that he said he's going to having big tent.
"stephen moore" Discussed on WNYC 93.9 FM
"That we don't and it's going to take a lot to convince them of that's not true but it would be a mistake with the administration to conclude that there is no limit to that phenomena that admiration for trump however grudging gives the president a lot of latitude with members of his own party as one russian shoe after enough other drops so far the bargain republicans made last year is holding they would put up with all the things they couldn't stand about donald trump in exchange for having a republican president to sign legislation on healthcare tax cuts and entitlement reform but says been weber things aren't working out the way they planned republicans are in a very took place right now and when we look to the subtle we thought my gosh we've got the prove in government and many years and a president who has a very ambitious agenda and that's where there were a lot of expectations including on my part of things happening much for rapidly than we had in the past unfortunately that did not happen why did not happen part of it is republicans own internal divisions part of it is the president's lack of interest and leading on policy and part of it is the ongoing distraction of the russian scandal stephen moore who was the trump campaign adviser says the best antidote to all of that for republicans is to pass something republicans are running scared right out there scoop by the fact that trump's uh in a over output will recognise of high they're worried about the fact that when i go back to the town hall meeting they shouted down and so on and my advice to them is what yet dish dot if y you know yet obamacare repeal get a tax cut on and that's your path victory republican consoled themselves by pointing out that.