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Heritage Foundation, Steve Moore And Visiting Fellow discussed on Lars Larson

Lars Larson

08:53 min | 3 years ago

Heritage Foundation, Steve Moore And Visiting Fellow discussed on Lars Larson

"Tonight and Steve Moore joins us now distinguished visiting fellow at the project for economic growth at the heritage foundation the author most recently of trouble now makes inside the America first plan to revive our economy Steve before we get into talking about dixieland can I ask you what you make of the federal reserve's move I I know is anticipated ahead of time that this quarter point drop in interest rates and what your take is on the well as you know I've been a strong supporter for the last year of of lower rates and that's one of the reasons that Donald Trump had done nominated me to be on a summer resort because I I do want to say the fad you know but restore strong solid money in this country and is the fed's tightening actions of late last year it will not likely slow the economy and because of massive reduction in the stock market and so I think is the right move unfortunately that that chairman and see if that John Paul made a statement when he was making this nonsense that you know with this this may not may only be one you know rate cut and that was a mistake because the market wants more rate cuts and and their need to be at least one maybe two more and so the felt a market stall it was a big selloff day on the stock market today and I think that's because strong Powell signaled that he may not be continuing to cut rates and we need another one or two were great productions can I ask you this Steve does anybody measure what the market rate value of money would be not the artificial rate set by this you know sort of government agency the fed but I do believe it would be like saying well you know the actual because because the government sets the cost is acts five dollars but but if it was actually the free market it would be three dollars I mean does anybody measure that and and I I almost so you be worthwhile start pointing out the difference the actual market value of the money you know it it did this represented by the federal raid would be you know two and a half percent but the fed is set at three and and and then measure the differential it's a great question what this there's a there's so many mythologies about the fact that this is one of the reasons that I think a lot of people that mom and some reports that was exposing a lot less cells is one of them is that the United States federal reserve sets the interest rates it does not that's just the price in interest rates that's the price that that you know are calibrate states you know supply and demand of credit in that shot we are mostly by the private sector two people one of our people willing to lend the money install the fat you know the reason the sad needed to load lower interest rates not to lower the interest rates you know that thanks our church and so on but the issue is more money into the economy my line is that we create a really strong economy which record low unemployment you know a great sure you know stock welcome in the everybody wanting invest night stage the study has not accommodated that floats with an additional infusion of money so I I believe that the role of that should be the simply keep the dollar stable which is why you've got a great your question so white you know what the reason we have a currency is so the dollars today will be worth what they will be two years from now or five years or ten years from now travels around with Venezuela officials say is right because you all the blood of the initial Basil may not be worth anything so we want to keep the dollar strong as good as gold and I think one way of doing that right now is to lower rates getting more you'll get more growth with more money in the economy without inflation without inflation let's take a moment to talk about the south though the southern part of the United States because you you're an interesting take on this that that the south has been one of the hotter locations but but for some reason now is it falling behind no actually you know so I was responding to a piece in the Wall Street journal the news pages about a month ago it which was saying of the south is not you know that the heart region of the country anymore and now simulate a minute look at nine on the fourth side you know hot stage right now in the south you got Texas you got Florida got Tennessee you got shorter in North Carolina and those are five of the ten fastest growing states in the country right now next fall last you've got somebody's pretty fast growing states yes well states like Utah Idaho Washington Oregon but you know the shelters that is not coming to a screeching halt in fact it is growing and it's because it's taking a lot of jobs a lot of people out of the northern states especially in the northeast and allow those northern midwestern states and they continue to slide into the south because of low taxes right to work laws and they kind of pro business atmosphere and so we don't I mean my goodness Texas from two thousand seven to two thousand fourteen create more jobs and then the other forty nine states combined you know so Texas burn rate in Florida is now the new taxes and affordable myself now this is a mythology that somehow those houses slowing down and the northeast by the way those black I've called them the four states of the apocalypse and I think you know which a lot of you know my home state of Illinois New Jersey Connecticut New York the four states without papers with the highest taxes in the country have the biggest financial problems and a losing their people and I I'll tell you what they're gone they're going to Nashville they're going to Miami they're going to places like Austin Texas and so now the the rumors of the slow down in the south are greatly exaggerated so who's pushing that kind of mythology I mean in and walk out unions are and you know it's like this is very embarrassing to levels and I was listening to some of that debate you start up this conversation to talk about that the disgrace of what's happening on the democratic side of the island and its entry by the way to see you know what about what about nature to courage in this country is it you know the what terraced housing it Adam by you hours of eight well just to remind you no he kills you because I hear them saying last night things that a couple years ago I was telling my audience this is what's happening they said no no no the Democrats are not calling for the end of fossil fuels for the end of automobiles they're not calling for you know they're and they're saying and we're gonna make sure electric cars are made in union run plants and that the workers get part of the well the workers can have a piece of the action right now buy some stock in GM buy some stock in forward but by some stock in Toyota they've got the Toyotas understand makes more cars in America than it does in Japan so but but to have the government do yeah there are stylish thing eight no I I I think it's amazing and now there's a little bit off the top of your question but it's it's a heavy on my mind right now I've watched all three of these debates you know for that that each one last about an hour and a half right I'm not the whole thanks but I've watched most of them hello I can't think of one good idea that has come out of those debates not one maybe maybe have I missed one but it's all income redistribution raise taxes on the rich care down people are successful you know the the the the bowl of Americans to make all people which not to read make rich people poor and this idea that people are are villains because they've been Gretchen the drug companies are villains and the energy companies are villains are gonna tear them down high in and also so pessimistic and so this gets your question about why do people do you know why are people celebrating the south because the self does use this formula for taxes less regulation pro business and and none of those are the policies and Democrats are running nationally or in states like you know New York and Connecticut in California and in New Jersey and and you can see let's not make America look more like New Jersey let's make America look more like structures I couldn't agree with him I'm in fact I get curious about real estate around the country and I visited you know Louisiana and Mississippi I look at houses down there you can buy a house in in nice towns in Louisiana Mississippi I'm not talking right New Orleans but but in smaller towns of for what you could buy a parking spot New York City for which you can buy a nice house near the water down there I mean like a hundred a hundred thousand a hundred a quarter I mean we're the mortgages five hundred dollars a month or seven hundred dollars a month and you think well you could you could actually you know even if you are an average person making the minimum wage you know in in a family with two adults working you could easily afford that and and that what else flowers what are such a special here is that the right about that and I've talked to you know I know rich people in on another round needs of people are successful and you know millionaires and some of the universe and they moved out of California they've moved out of the level I did out of Michigan and northern New York and they've moved to Texas and Florida Tennessee and they tell me they can I I I Viewtiful host in Nashville or Miami or chairman Tony you know and and they can they can buy the house which is the money they save on the Traxxas reading and actually New York Connecticut rolling unbelievable his book is called trouble Namik she is Steve Moore from the

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