1
00:00:00,240 --> 00:00:02,679
Speaker 1: Where you York comes for common sense.

2
00:00:02,960 --> 00:00:06,000
Speaker 2: Mark Simon on sevent ten wo r.

3
00:00:07,560 --> 00:00:11,200
Speaker 1: Hey, Steve Moore, the brilliant economist and of course you

4
00:00:11,240 --> 00:00:13,880
Speaker 1: see them all over television. Read his columns. Make sure

5
00:00:13,880 --> 00:00:16,279
Speaker 1: you get his book. Steve Moore's latest book is The

6
00:00:16,280 --> 00:00:19,919
Speaker 1: Trump Economic Miracle. It's excellent. He runs the Committee to

7
00:00:20,000 --> 00:00:23,160
Speaker 1: Unleashed Prosperity. Every day they put out the best news

8
00:00:23,160 --> 00:00:26,520
Speaker 1: and analysis. If you want to be really smart, have this.

9
00:00:27,000 --> 00:00:29,360
Speaker 1: Sign up for this. It's free, it'll come right to

10
00:00:29,360 --> 00:00:32,960
Speaker 1: your email. Just go to Unleash Prosperity dot com sign

11
00:00:33,040 --> 00:00:35,519
Speaker 1: up for the hotline. Steve Moore, how you doing.

12
00:00:37,560 --> 00:00:40,960
Speaker 2: Well, Happy to East and everyone. And so we got

13
00:00:41,000 --> 00:00:43,360
Speaker 2: to I thought Trump was good last night. I think

14
00:00:43,400 --> 00:00:47,760
Speaker 2: we are coming to the conclusion of the situation around

15
00:00:47,800 --> 00:00:49,760
Speaker 2: and we're going to get those straights of moves open.

16
00:00:49,800 --> 00:00:51,760
Speaker 2: And when that happens, I'm here to tell you that

17
00:00:51,840 --> 00:00:54,960
Speaker 2: the gas price will head back down to both to

18
00:00:55,080 --> 00:00:57,040
Speaker 2: three dollars or least. Now. I know in New York

19
00:00:57,120 --> 00:01:01,280
Speaker 2: area pay maybe a little bit more than that, but nationwide,

20
00:01:01,320 --> 00:01:03,440
Speaker 2: I think we're going to see gas prices back down

21
00:01:03,440 --> 00:01:06,600
Speaker 2: to three dollars galleon and it'll take maybe a month.

22
00:01:07,120 --> 00:01:10,920
Speaker 2: But this is a temporary situation and we're going to

23
00:01:11,000 --> 00:01:13,720
Speaker 2: see once we get that gas price back down, the

24
00:01:13,840 --> 00:01:16,240
Speaker 2: economy is going to be roaring back to life.

25
00:01:16,400 --> 00:01:19,399
Speaker 1: Yeah, we don't get any oil from the Straits horm

26
00:01:19,720 --> 00:01:23,280
Speaker 1: I mean really almost nothing. So the WTI and these

27
00:01:23,480 --> 00:01:27,440
Speaker 1: people that just raise the price anyway, it just shows you,

28
00:01:27,480 --> 00:01:31,360
Speaker 1: how j are youing these guys? Are You can't trust

29
00:01:31,440 --> 00:01:32,240
Speaker 1: these guys, can you?

30
00:01:33,520 --> 00:01:35,840
Speaker 2: Well? So what's going on? Because I get asked this

31
00:01:35,920 --> 00:01:38,160
Speaker 2: question all the time? How come? I want to give

32
00:01:38,160 --> 00:01:41,319
Speaker 2: you a few statistics. Number One, the United States is

33
00:01:41,319 --> 00:01:43,240
Speaker 2: the number one oil and gas producer in the world.

34
00:01:43,400 --> 00:01:45,039
Speaker 2: I don't know if you're aware of that, but we are.

35
00:01:45,080 --> 00:01:48,160
Speaker 2: We produce more oil and gas than Saudi Arabia, than Russia,

36
00:01:48,240 --> 00:01:52,400
Speaker 2: than Iran, than Venezuela, and so we're number one in

37
00:01:52,440 --> 00:01:55,400
Speaker 2: the world. Number two, we are actually an oil and

38
00:01:55,400 --> 00:01:58,400
Speaker 2: gas exporter. On that did you know that we export?

39
00:01:58,560 --> 00:02:02,040
Speaker 2: We produce more oil and gas them we consume. That's

40
00:02:02,080 --> 00:02:04,680
Speaker 2: about the first time and a long long long time

41
00:02:04,720 --> 00:02:07,040
Speaker 2: that that's happened. And it's partly because the you know,

42
00:02:07,160 --> 00:02:11,720
Speaker 2: the shale revolution and Trump's drill baby drill strategies. So

43
00:02:12,160 --> 00:02:14,079
Speaker 2: then people ask, Okay, well, if that's the case, why

44
00:02:14,080 --> 00:02:16,600
Speaker 2: are we paying you know, one hundred dollars a barrel

45
00:02:16,720 --> 00:02:19,880
Speaker 2: for oil. It's because it's a globally traded commodity. So

46
00:02:20,320 --> 00:02:23,200
Speaker 2: the price is not set any in any country. It's

47
00:02:23,240 --> 00:02:26,720
Speaker 2: set by world demand and world supply. And the fact

48
00:02:26,760 --> 00:02:28,720
Speaker 2: that you know about you know, I think it's about

49
00:02:28,720 --> 00:02:31,919
Speaker 2: twenty percent of the world's oil, maybe a little higher

50
00:02:31,960 --> 00:02:34,520
Speaker 2: than that comes from the straits of Romus. You've got

51
00:02:34,520 --> 00:02:36,720
Speaker 2: a supply chain problem, and when that happens, the price

52
00:02:36,800 --> 00:02:40,440
Speaker 2: goes up. But my point is Mark that what goes

53
00:02:40,520 --> 00:02:44,680
Speaker 2: up quickly can come down quickly, and when that happens,

54
00:02:44,720 --> 00:02:46,839
Speaker 2: you're going to see the stock market war back to life,

55
00:02:46,880 --> 00:02:48,800
Speaker 2: and you're going to see prices. Now, look, we're going

56
00:02:48,840 --> 00:02:51,280
Speaker 2: to get a lousy number for the March consumer price.

57
00:02:52,120 --> 00:02:54,240
Speaker 2: It'll probably come out in a week or two, and

58
00:02:54,280 --> 00:02:56,800
Speaker 2: it's going to show, you know, a big increase in

59
00:02:56,919 --> 00:03:01,160
Speaker 2: consumer prices because gas is higher, and when entergy prices

60
00:03:01,200 --> 00:03:03,040
Speaker 2: go up, price, if a lot of things go up.

61
00:03:03,320 --> 00:03:06,000
Speaker 2: But I'm feeling pretty good that that's going to be

62
00:03:06,240 --> 00:03:10,359
Speaker 2: a situation that is that has resolved, because I want

63
00:03:10,360 --> 00:03:12,720
Speaker 2: to get the economy booming and it was. Remember twenty

64
00:03:12,720 --> 00:03:15,160
Speaker 2: twenty five was a blockbuster. You're for the economy, as

65
00:03:15,360 --> 00:03:16,760
Speaker 2: was Trump's first term.

66
00:03:17,040 --> 00:03:19,920
Speaker 1: Yeah, so when the oil price, when it drops the

67
00:03:20,160 --> 00:03:23,080
Speaker 1: sixty dollars a barrel, those oil company heads aren't that

68
00:03:23,160 --> 00:03:24,800
Speaker 1: thrilled about that, are they? They kind of like it?

69
00:03:24,840 --> 00:03:28,560
Speaker 2: High, of course they like it. I I mean, of

70
00:03:28,600 --> 00:03:30,799
Speaker 2: course they do. If you're if you have if you

71
00:03:31,080 --> 00:03:33,800
Speaker 2: have a lemonade stand and nobody else says lemon lemonade,

72
00:03:33,840 --> 00:03:35,920
Speaker 2: you're gonna make a lot of money, right, And so

73
00:03:36,120 --> 00:03:38,480
Speaker 2: that's the way the free market works. But I'm afraid

74
00:03:38,520 --> 00:03:40,960
Speaker 2: that we're going to try mark some of the stupid

75
00:03:40,960 --> 00:03:43,640
Speaker 2: policies that Jimmy Carter put in place in the nineteen

76
00:03:43,680 --> 00:03:46,120
Speaker 2: seventies the last time we had a big oil spike

77
00:03:46,200 --> 00:03:47,920
Speaker 2: up and that wasn't the last time, but one of

78
00:03:47,920 --> 00:03:50,400
Speaker 2: the more recent times when I don't know if you

79
00:03:50,680 --> 00:03:55,560
Speaker 2: remember the Iranian hostage situation at the embass and so on,

80
00:03:55,640 --> 00:03:59,080
Speaker 2: but we had we had all these stupid policies that

81
00:03:59,200 --> 00:04:01,920
Speaker 2: came out of Washington, including a what they call a

82
00:04:01,960 --> 00:04:05,080
Speaker 2: windfall profits tax. Of the old companies says, oh no,

83
00:04:05,160 --> 00:04:07,040
Speaker 2: you can't make money up. So guess what they stopped

84
00:04:07,080 --> 00:04:09,760
Speaker 2: producing because they put in this, and so then the

85
00:04:09,760 --> 00:04:10,960
Speaker 2: price wentn't even higher.

86
00:04:11,160 --> 00:04:15,640
Speaker 1: Yeah, the stock market. We always look to the stock market,

87
00:04:15,640 --> 00:04:17,400
Speaker 1: what do they think? What are they? Aren't they really

88
00:04:17,400 --> 00:04:20,880
Speaker 1: always overreacting to everything. They're not the best barometer of anything,

89
00:04:20,880 --> 00:04:21,320
Speaker 1: are they.

90
00:04:22,400 --> 00:04:24,960
Speaker 2: Well, it's compared to what you know, he's going to

91
00:04:25,000 --> 00:04:28,520
Speaker 2: ask a bunch of economists on a CNBC here. I mean,

92
00:04:28,560 --> 00:04:31,839
Speaker 2: so I think that it's probably the best forward looking

93
00:04:31,880 --> 00:04:35,200
Speaker 2: barometer we have. But it, you know, it really moves,

94
00:04:35,240 --> 00:04:38,279
Speaker 2: you know, still saying it moves on feed fear and

95
00:04:38,320 --> 00:04:42,200
Speaker 2: greed would drive the stock market, and right now the

96
00:04:42,320 --> 00:04:46,279
Speaker 2: fear is prevailing. But look, we I've told you this

97
00:04:46,360 --> 00:04:48,240
Speaker 2: many times. When I got started in this business that

98
00:04:48,320 --> 00:04:51,800
Speaker 2: Dow Jones was about one thousand. Now we're close to

99
00:04:51,839 --> 00:04:54,160
Speaker 2: fifty thousand, so you know, we've had a nice run up.

100
00:04:54,200 --> 00:04:57,159
Speaker 2: And look, the United States is in a such a

101
00:04:57,200 --> 00:04:59,680
Speaker 2: great position to be the dominant country. We've got to

102
00:04:59,760 --> 00:05:03,200
Speaker 2: keep you know, the dominant energy country. And more of

103
00:05:03,240 --> 00:05:05,360
Speaker 2: the lessons of this is, by the way, let's produce

104
00:05:05,400 --> 00:05:07,919
Speaker 2: so much oil and gas here at home that we

105
00:05:07,920 --> 00:05:11,680
Speaker 2: don't have to worry about what's happening. And countries like

106
00:05:11,760 --> 00:05:15,000
Speaker 2: Iran or Russia, or remember that we saw big spike

107
00:05:15,080 --> 00:05:17,880
Speaker 2: up when the Russians invaded Ukraine. You know that. Yeah,

108
00:05:18,400 --> 00:05:21,479
Speaker 2: you know, so we keep living through this and I

109
00:05:21,560 --> 00:05:24,600
Speaker 2: want to disengage from a lot of these other countries

110
00:05:24,600 --> 00:05:27,320
Speaker 2: by just making us energy self sufficient, which basically Trump

111
00:05:27,400 --> 00:05:27,760
Speaker 2: is done.

112
00:05:27,960 --> 00:05:31,120
Speaker 1: Yeah. Hey, Steve Moore, if you owned a restaurant, all

113
00:05:31,160 --> 00:05:33,640
Speaker 1: of a sudden thirty percent of your customers stopped coming,

114
00:05:33,760 --> 00:05:35,560
Speaker 1: you'd say, I got to change things. I got to

115
00:05:35,560 --> 00:05:38,760
Speaker 1: make some tea. You got these blue cities where in

116
00:05:38,839 --> 00:05:41,720
Speaker 1: New York, LA, everybody's moving out. Yes, why wouldn't a

117
00:05:41,760 --> 00:05:45,200
Speaker 1: politicians say, hey, we better change something our tax policy

118
00:05:45,320 --> 00:05:45,800
Speaker 1: or something.

119
00:05:47,240 --> 00:05:49,919
Speaker 2: So this is a very big story. We've covered it

120
00:05:49,960 --> 00:05:54,720
Speaker 2: in our hotline this morning, which is the three metro

121
00:05:54,839 --> 00:05:59,200
Speaker 2: areas that have lost the most population since twenty twenty.

122
00:05:59,279 --> 00:06:01,760
Speaker 1: You know what they are, I would say, New York

123
00:06:01,760 --> 00:06:02,160
Speaker 1: in LA.

124
00:06:02,839 --> 00:06:04,760
Speaker 2: Yes, yes, And you know what the third one is

125
00:06:05,320 --> 00:06:09,320
Speaker 2: my hometown, Chicago. Yeah, So those are you know, and

126
00:06:09,360 --> 00:06:12,640
Speaker 2: I look for for the last hundred years, those have

127
00:06:12,720 --> 00:06:15,800
Speaker 2: been the three of the most important cities in the world.

128
00:06:15,920 --> 00:06:19,080
Speaker 2: You know, New York was the financial capital, Los Angeles

129
00:06:19,120 --> 00:06:22,760
Speaker 2: became the entertainment capital. Chicago was the commodities capital. And

130
00:06:22,800 --> 00:06:26,760
Speaker 2: they are great, great cities and they're being destroyed by

131
00:06:27,120 --> 00:06:31,839
Speaker 2: by left wing socialist What does Mondomi call himself a

132
00:06:31,880 --> 00:06:36,159
Speaker 2: democrat socialist whatever that means? Well, you know, how is

133
00:06:36,160 --> 00:06:39,280
Speaker 2: it that such a great city like New York can

134
00:06:39,320 --> 00:06:42,080
Speaker 2: the voters of New York really be that stupid? I mean,

135
00:06:42,080 --> 00:06:44,120
Speaker 2: as I said in the Highline today, you wouldn't hire

136
00:06:44,160 --> 00:06:47,400
Speaker 2: these people to change a light bulb. You know Brendan Johnson,

137
00:06:47,440 --> 00:06:51,839
Speaker 2: the ones who's he's he's the mayor of Chicago. He's

138
00:06:52,680 --> 00:06:55,760
Speaker 2: got a nice smile, just like Mondommie has a nice smile.

139
00:06:55,800 --> 00:06:57,719
Speaker 2: He's a good speech. But it doesn't know how to

140
00:06:57,720 --> 00:07:00,520
Speaker 2: do anything. The same thing you know in California with

141
00:07:00,640 --> 00:07:03,680
Speaker 2: the mayor there allowed to burn Baby burn. Remember it

142
00:07:03,800 --> 00:07:07,280
Speaker 2: burned down all the areas of Los Angeles. So it's

143
00:07:07,320 --> 00:07:10,600
Speaker 2: sad to me, it really is. It's leadership matters. And

144
00:07:10,720 --> 00:07:13,760
Speaker 2: I remember, as you do, when Rudy Giuliani came in

145
00:07:14,120 --> 00:07:16,960
Speaker 2: and within eighteen months he fixed the city. Remember that.

146
00:07:17,200 --> 00:07:19,760
Speaker 1: Yeah, So, but the idea if you got rid of

147
00:07:19,760 --> 00:07:22,560
Speaker 1: the tax, no state tax, no this tax, that the

148
00:07:22,600 --> 00:07:24,920
Speaker 1: whole state would collapse. You wouldn't be able to fund anything.

149
00:07:24,960 --> 00:07:27,200
Speaker 1: It would be terrible. We've tried it out in Florida

150
00:07:27,280 --> 00:07:28,480
Speaker 1: and Texas and what were.

151
00:07:28,320 --> 00:07:31,800
Speaker 2: The rest exactly? Yeah, I mean New York. So we

152
00:07:31,920 --> 00:07:34,440
Speaker 2: mentioned the three cities that are, you know, in the

153
00:07:34,520 --> 00:07:38,160
Speaker 2: most rapid decline, and now, you know, here's the thing.

154
00:07:38,360 --> 00:07:44,640
Speaker 2: It's kind of amazing. San Antonio and Austin, Texas or

155
00:07:44,680 --> 00:07:48,320
Speaker 2: two of the fastest growing cities in America. They are

156
00:07:49,160 --> 00:07:51,360
Speaker 2: When you and I were growing up, they were kind

157
00:07:51,400 --> 00:07:54,880
Speaker 2: of sleepy southern, small southern towns. And how did you

158
00:07:54,880 --> 00:07:57,280
Speaker 2: know Austin and San Antonio are both in the top

159
00:07:57,360 --> 00:07:58,800
Speaker 2: ten of cities in the country.

160
00:07:58,840 --> 00:08:01,320
Speaker 1: What, oh my god, wow?

161
00:08:01,560 --> 00:08:06,000
Speaker 2: And with no tax amazing. So no income taxes. Yeah,

162
00:08:06,280 --> 00:08:08,920
Speaker 2: and that's because they have no income tacks that are growing.

163
00:08:09,120 --> 00:08:11,720
Speaker 2: And then you've got places like uh, I was just

164
00:08:11,800 --> 00:08:14,960
Speaker 2: in Naples, Florida, one of the fastest growing cities. You know,

165
00:08:15,040 --> 00:08:18,400
Speaker 2: Tampa is booming. So gee, what are all these cities

166
00:08:18,440 --> 00:08:20,120
Speaker 2: have a common? Oh, they have no income taxt What

167
00:08:20,160 --> 00:08:21,960
Speaker 2: are the cities they have the highest income tax? Oh,

168
00:08:22,040 --> 00:08:23,880
Speaker 2: Los Angeles and New York.

169
00:08:24,960 --> 00:08:27,520
Speaker 1: So when the mayor says, or any of these democrats,

170
00:08:27,600 --> 00:08:31,520
Speaker 1: the rich should start paying their fair share what is there?

171
00:08:31,680 --> 00:08:33,960
Speaker 1: What is their fair share? I think they're already paying

172
00:08:33,960 --> 00:08:36,320
Speaker 1: more than it, aren't they Well.

173
00:08:36,200 --> 00:08:39,120
Speaker 2: It's overall they do. But you know what's happened in

174
00:08:39,559 --> 00:08:43,480
Speaker 2: these states like California, Washington State, others that are looking

175
00:08:43,480 --> 00:08:46,840
Speaker 2: at these these wealth taxes. Now, guess what the wealth

176
00:08:46,960 --> 00:08:50,760
Speaker 2: wealthy move they moved to. You know, Seattle is going

177
00:08:50,840 --> 00:08:54,040
Speaker 2: to be see a big decline if they pass that

178
00:08:54,040 --> 00:08:57,400
Speaker 2: that wealth tax. In California, it is going to be uh,

179
00:08:58,360 --> 00:09:00,960
Speaker 2: it's just a sprint out of the state. But do

180
00:09:01,040 --> 00:09:04,200
Speaker 2: you see you know, Elizabeth Warren has a solution to this.

181
00:09:04,480 --> 00:09:07,800
Speaker 2: You know what her solution is, no tax everybody in

182
00:09:07,880 --> 00:09:10,640
Speaker 2: the country. Let's have a federal you know. Now there

183
00:09:10,679 --> 00:09:14,080
Speaker 2: are there were eleven European countries that have wealth taxes,

184
00:09:14,360 --> 00:09:16,480
Speaker 2: and ten of the eleven have repealed them because they

185
00:09:16,480 --> 00:09:20,560
Speaker 2: don't work. But they but liberals for Lauren Unbelieva.

186
00:09:20,559 --> 00:09:22,560
Speaker 1: Hey, yeah, if you want to get the best news

187
00:09:22,559 --> 00:09:25,200
Speaker 1: in the analysis, Steve Moore in a company they put

188
00:09:25,200 --> 00:09:28,839
Speaker 1: it out every morning, the hotline go to Unleashed Prosperity

189
00:09:28,960 --> 00:09:32,480
Speaker 1: dot com. Hey, I think Jamie Diamond reads your hotline. Boy,

190
00:09:32,720 --> 00:09:33,319
Speaker 1: who's out there?

191
00:09:33,400 --> 00:09:36,400
Speaker 2: Yeah, he said exactly what I just said on your

192
00:09:36,440 --> 00:09:39,080
Speaker 2: show that you know, if these states keep taxing the rich,

193
00:09:39,120 --> 00:09:40,559
Speaker 2: the rich are going to be gone.

194
00:09:41,320 --> 00:09:42,280
Speaker 1: Yeah.

195
00:09:42,400 --> 00:09:46,600
Speaker 2: So uh he's pretty rich himself, by the way.

196
00:09:48,360 --> 00:09:51,480
Speaker 1: Well, great stuff, and everybody get your book, The Trump

197
00:09:51,559 --> 00:09:53,640
Speaker 1: Economic Miracle. Are you working on a new book?

198
00:09:55,200 --> 00:09:58,160
Speaker 2: You know we are. It's it's a red state, Blue

199
00:09:58,160 --> 00:10:01,160
Speaker 2: state book about exactly what we've been talking about. Why

200
00:10:01,160 --> 00:10:04,360
Speaker 2: are these once great blue states and this in a

201
00:10:05,000 --> 00:10:09,000
Speaker 2: condition of such decline and it's outbreaking. So let's let's

202
00:10:09,000 --> 00:10:12,320
Speaker 2: make every state like Texas and Florida. Let's make everybody.

203
00:10:12,040 --> 00:10:15,480
Speaker 1: Richard gud Yeah, good idea. We'll see more great stuff.

204
00:10:15,679 --> 00:10:17,120
Speaker 1: Thanks for being with us.

205
00:10:17,600 --> 00:10:19,040
Speaker 2: Thank you, Happy Easter.

206
00:10:19,200 --> 00:10:21,960
Speaker 1: Take care, take care. Yeah, you actually should sign up

207
00:10:22,000 --> 00:10:24,640
Speaker 1: for it's called the hotline. Just go to Unleash prosperity

208
00:10:25,040 --> 00:10:27,320
Speaker 1: dot com. Every morning you get five or six major

209
00:10:27,840 --> 00:10:33,280
Speaker 1: news stories and great analysis. Unleash prosperity dot com. Hey,

210
00:10:33,559 --> 00:10:36,720
Speaker 1: coming up at noon, it's Buck Sexton Klay Travis. Buck's

211
00:10:36,720 --> 00:10:39,240
Speaker 1: got a great new book out too. Go to Amazon

212
00:10:39,480 --> 00:10:43,800
Speaker 1: order that Three o'clock the most listen to radio show

213
00:10:43,920 --> 00:10:47,319
Speaker 1: in America. Sean Hannity, Oh, actually today I'll be filling

214
00:10:47,360 --> 00:10:50,520
Speaker 1: in for Sean Hannity. I forgot today three to six,

215
00:10:50,559 --> 00:10:52,600
Speaker 1: I'll be filling in for Sean Hannity. Then you got

216
00:10:53,120 --> 00:10:55,880
Speaker 1: Jesse Kelly at six, and you know Jimmy Fala, who's

217
00:10:56,120 --> 00:10:58,960
Speaker 1: very funny, does a really good show here every night

218
00:10:59,000 --> 00:11:01,960
Speaker 1: at nine. Actually, he'll be with us in the next hour.

219
00:11:02,000 --> 00:11:03,760
Speaker 1: He'll be with us in the next hour here on

220
00:11:03,920 --> 00:11:05,640
Speaker 1: seven ten. Woir