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Speaker 1: It's nice, I'm telling you easy Boston News Radio, everybody,

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Speaker 1: as we move into the nine o'clock hour here on

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Speaker 1: a Friday night, about four weeks ago, the war with

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Speaker 1: Iran between Iran and the United States and Israel began.

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Speaker 1: It is now about to get to its fifth week.

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Speaker 1: We're on the cusp of that, and we're delighted to

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Speaker 1: be joined by the Israeli Console General to New England

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Speaker 1: gentleman who's been a guest on this program before, Console General,

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Speaker 1: Benny SHARONI, welcome back, Console General.

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Speaker 2: How are you tonight?

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Speaker 3: Good evening, Dan, Good evening to the listeners. It's all

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Speaker 3: as pleasure to be at your show. I'm okay personally

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Speaker 3: this evening, though my thoughts and my feelings and my

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Speaker 3: hearts with my people back home. I'm following latest reports

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Speaker 3: on another batch of Iranian missiles lending in Israel over

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Speaker 3: the last couple of hours, including in some places in

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Speaker 3: Tel Aviv. That that's of course concerning.

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Speaker 1: Yeah, it's concerning, and to me it's a little perplexing

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Speaker 1: that that that they have been able to last this long.

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Speaker 1: I know that during the last four weeks there have

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Speaker 1: been reports that the percentage of missiles that are fired

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Speaker 1: on any given day or any given night have been

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Speaker 1: diminishing over time. But I don't think that's a straight

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Speaker 1: line diminution, meaning it's not like it goes from one

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Speaker 1: hundred percent to sixty percent, to forty percent to twenty percent, and.

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Speaker 2: Now we're down.

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Speaker 1: What is the guestimate, if you will, of how long Iran,

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Speaker 1: which is been hit a lot by not only the

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Speaker 1: United States but by Israel, How how vast, how deep

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Speaker 1: are the resources that they have.

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Speaker 2: To use against the state of Israel.

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Speaker 3: Yeah, you see then this is this is exactly proves

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Speaker 3: the point of how hard Iran has been working, This

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Speaker 3: murder's regime has been working for the last four decades

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Speaker 3: in order to build its arms and ammunitions and arsenals

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Speaker 3: of missiles, and they most probably have been building a lot. Now,

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Speaker 3: the good news is that we managed to hit many

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Speaker 3: of the launchers, many of the missiles depots. That's true.

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Speaker 3: They still manage to manage to launch over here and there,

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Speaker 3: but definitely not the same amount that they used to

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Speaker 3: launch in the first couple of days of the operation.

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Speaker 3: And that ability although they still they still have that ability.

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Speaker 3: This is you know, this is going down and in parallel,

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Speaker 3: it's important to highlight that we continue to work in

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Speaker 3: order to target those launchers, those missiles in order to

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Speaker 3: even further degrade those URNS capabilities.

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Speaker 1: What does your nation make of the fact that last

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Speaker 1: weekend they launched, as I understand it, and if I'm wrong,

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Speaker 1: please correct me, two long range missiles at a US

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Speaker 1: joint US military base on the island of Diego Marcilla

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Speaker 1: in the middle of the Atlantic Ocean, about twenty five

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Speaker 1: hundred miles. I don't think our intelligence services believed that

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Speaker 1: iron had that throw capability to fire a missile twenty

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Speaker 1: five hundred miles. That Israel suspect that maybe they they

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Speaker 1: had a greater capacity to hit targets further away than

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Speaker 1: maybe the United States knew.

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Speaker 3: I think we never under a stimated the Iranian capabilities,

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Speaker 3: not the Iranian desire. Again, they've been building this this

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Speaker 3: arsenal for many years now, not just on the missiles

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Speaker 3: but also on the nuclear path. And they also built

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Speaker 3: that network of terror proxies across the Middle East. Yeah,

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Speaker 3: and you know, they had successfully demonstrated the ability to

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Speaker 3: launch miss out that covers not just Israel, but you

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Speaker 3: know half of Europe and even beyond. Again again this

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Speaker 3: is this is demonstrated. Well, you know, they were trying

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Speaker 3: to claim sometimes the second week of the operation. I

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Speaker 3: guess that the only reason that they're attacking, you know,

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Speaker 3: neighboring countries because of the US presence there in their

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Speaker 3: neighboring country. Well, no one buys into that. And you

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Speaker 3: know it is clearly, you know to everyone that you know,

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Speaker 3: based on the amount, based on the the range, based

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Speaker 3: of the kind of munitions that they've been using, that

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Speaker 3: they have no but all kinds of malign intention towards Israel,

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Speaker 3: towards the United States, toward the Middle East, but apparently

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Speaker 3: even beyond the Middle East.

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Speaker 1: So so, since hostilities have been going on for four weeks,

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Speaker 1: and I know President Trump has been talking about they

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Speaker 1: want to make a deal, meaning Iran, I have a

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Speaker 1: right to look at the situation myself, and if I

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Speaker 1: ask you a question which is inappropriate, feel free. But

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Speaker 1: I don't see or perceive, and the President has much

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Speaker 1: better information than I have, for sure, But it doesn't

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Speaker 1: seem to me that Iran wants to make a deal.

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Speaker 1: It sounds to me like they want to fight to

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Speaker 1: the death. How How am I overly pessimistic when I

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Speaker 1: say that, And do you think the president is right

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Speaker 1: there that they really want to make a deal. I

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Speaker 1: think they want to play like they're making a deal.

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Speaker 3: You know what this is. They are not this this

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Speaker 3: kind of regime, this this atula leadership. They don't think

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Speaker 3: the same way that you and I are thinking. This

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Speaker 3: is a death cult that we are dealing with. You know,

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Speaker 3: our normal calculation the life and death does not. They

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Speaker 3: just don't think that that's kind of overweight. You know,

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Speaker 3: we went into this jointly together with the United States,

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Speaker 3: into this military campaign with very you know, we'd fall

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Speaker 3: very strict and very precise things that we would like

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Speaker 3: to achieve. First, one of them is to make sure

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Speaker 3: that they no longer possess the nuclear capabilities that they

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Speaker 3: have been building to completely blocked the run path towards

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Speaker 3: nuclear bombs. Now, we're also are aiming at their myth

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Speaker 3: of both the production and the and the depots and

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Speaker 3: the arsenal and everything, and also the network of proxies

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Speaker 3: across the beast. But at the same time, it's also

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Speaker 3: the intention of this military campaign to weaken the Irani energy,

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Speaker 3: to weaken it and by doing so, to allow the

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Speaker 3: Iranian people an opportunity maybe to take responsibility on their

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Speaker 3: own path, on their own future. And I think those

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Speaker 3: are the most important saying this is I think what

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Speaker 3: United States and Israel are concentrating on at the moment

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Speaker 3: to achieve those four aims. I think we are making

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Speaker 3: a very good progress and a nice progress in each

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Speaker 3: one of those four pillars of the operation. I can

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Speaker 3: tell that it's a very high level of coordination between

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Speaker 3: the United States and Israel, both on the political level

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Speaker 3: and also in the military level. Actually, United States Armed

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Speaker 3: Forces and the Usually Defense Force are finding shoulders to

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Speaker 3: shoulder in an untrecedented manner. And I think we are

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Speaker 3: all encouraged by the pace this whole thing is getting forward.

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Speaker 3: And I think this is this is the focus. This

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Speaker 3: is the focus in Jerusalem. This is the focus I

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Speaker 3: think of all of us together to continue this campaign,

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Speaker 3: and the aims will be compaignies are just highlighted, will

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Speaker 3: be achieved.

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Speaker 1: I have to take a commercial break. Can I keep

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Speaker 1: you just for a few more minutes?

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Speaker 2: I know.

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Speaker 1: You've had a long day. If it's possible, I have

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Speaker 1: to take this commercial break. But I do have a

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Speaker 1: couple of other questions that I think are important, and

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Speaker 1: I think i'd love you have an opportunity to address

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Speaker 1: because I think you speak with clarity that I want

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Speaker 1: to hear more clarity from Washington goals, timeline achievement, and

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Speaker 1: will the job be finished? Can can you give us

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Speaker 1: a few more minutes? Sure, thank you, I'll be right,

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Speaker 1: but we'll be back in just two or three minutes,

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Speaker 1: and I promise I'll let you go by nine point

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Speaker 1: thirty and we won't deal with phone calls tonight, We'll

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Speaker 1: just deal with them. I think what you're saying is

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Speaker 1: so refreshing to hear. Clearly, Israel has been under the

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Speaker 1: gun for a long time, a long time since its

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Speaker 1: birth in in May of nineteen forty eight, and this

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Speaker 1: is probably the most important battle that your country has

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Speaker 1: ever fought, and if not the most important battle that

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Speaker 1: the United States has fought. We did have World War

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Speaker 1: Two and World War One, so I don't want to

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Speaker 1: downplay those, but this is a very critical battle for

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Speaker 1: the future of the world, and particularly for the part

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Speaker 1: of the world in which Israel and these other Gulf

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Speaker 1: states hopefully can live and work and going.

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Speaker 2: Forward in the future.

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Speaker 1: Back on Nightside with the Israeli Consul General to New England,

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Speaker 1: Benny Sharoni. Back after this, It's Night Side with Dan

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Speaker 1: Ray on w Boston's News Radio. My guest for a

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Speaker 1: few more minutes is the Consul General of the State

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Speaker 1: of the Nation of Israel to New England, Benny Sharoni.

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Speaker 1: Mister Consul General, what success is Israel having or what

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Speaker 1: difficulty is Israel having in southern Lebanon. I know that

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Speaker 1: Israeli groups are in there fighting what is left at Hezbollah.

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Speaker 1: That's not covered back here in our media as closely

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Speaker 1: as it should be. Can you just give us a

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Speaker 1: sense of how that that front is going.

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Speaker 3: Sure, thank you for asking them. So. Israel has been,

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Speaker 3: you know, operating in some sites next to our northern

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Speaker 3: border inside Lebanon over the last two or three weeks,

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Speaker 3: shortly after the campaign with the round started, his Bala

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Speaker 3: decided to join and start to launch missiles from southern

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Speaker 3: Lebanon into northern Israel. Are you and then the listeners

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Speaker 3: probably recalled that back in twenty twenty four there was

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Speaker 3: an agreement and the government of Lebanon took upon itself

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Speaker 3: in a phased manner to make sure that his Bala

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Speaker 3: no longer south of the Tiny River, no longer for

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Speaker 3: those military capabilities. By apparently his Bala is still there

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Speaker 3: and Sibald is still launching missus, still abusing Lebanon Lebanon

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Speaker 3: sovereignty in order to attack as well. Now, even the

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Speaker 3: listeners probably remember October seven, which is a very important,

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Speaker 3: very painful point in time for Israel. We change our

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Speaker 3: security strategy right after Waktober seven. We came to a conclusion,

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Speaker 3: a decision that we will not allow jihadists leave on

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Speaker 3: our border. We saw what happened October seven when that

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Speaker 3: was the situation, and we will not allow that situation

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Speaker 3: to repeat, neither in Gods nor in Lebanon. We've been

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Speaker 3: operating in the last two three weeks in places here

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Speaker 3: and there, uh and actually every every will that we

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Speaker 3: are operating. We are finding missiles, we are finding weapons,

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Speaker 3: we are finding his Bala operatives, again an indication that

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Speaker 3: his Bala is still there, and we are determined to

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Speaker 3: not allow that continue to be the situation. Now, you know,

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Speaker 3: by the end of the day, it is up to

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Speaker 3: the government of Lebanon to take care of those challenges

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Speaker 3: by herself. This is part of the Lebanese state responsibility. However,

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Speaker 3: from our perspective, if Lebanon is not going to do

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Speaker 3: that in an effective manner, we have more choice back

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Speaker 3: to differend also to do the job we all Again,

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Speaker 3: it all goes back to what happened in October seventh

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Speaker 3: and our determination not to let that happen again. I

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Speaker 3: don't think that the United States or any other country

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Speaker 3: would have allow itself to live under such a threat,

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Speaker 3: knowing that potentially someone tomorrow might cross the border and

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Speaker 3: kill and you know, hundreds or thousands of civilians.

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Speaker 1: Well, I know that there were at least twelve hundred

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Speaker 1: Israeli citizens, from as young as babies to older elderly

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Speaker 1: grandparents who were slaughtered on October seventh, And in terms

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Speaker 1: of the relationship between that number and the population of Israel,

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Speaker 1: if anything like that happened on the United States territory,

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Speaker 1: it was the equivalent of US losing about forty thousand

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Speaker 1: people as you lost twelve hundred on that one morning.

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Speaker 1: Our population is obviously larger than the States, is significantly

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Speaker 1: larger than the state of Israel. So let me come

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Speaker 1: back with a couple of final questions here, just in

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Speaker 1: terms of an update, would you say that from Israel's perspective,

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Speaker 1: they your military forces are accomplishing most, if not all,

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Speaker 1: of what you had hoped to accomplish at this point

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Speaker 1: four weeks in.

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Speaker 2: That's that's the first question.

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Speaker 3: So I'll say, you know, I'm going back to the

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Speaker 3: four aims that we defined together. So this campaign in

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Speaker 3: the nuclear capabilities, the ballistic missile capabilities, the network of

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Speaker 3: terror process acrossing the list, and by weakening the run

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Speaker 3: in the gym, and I can say clearly that we're

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Speaker 3: making progress on all each one of those four pillows

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Speaker 3: of this campaign. Now it's a joint campaign. This is

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Speaker 3: conducted jointly by the United States and as well, we

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Speaker 3: started it together. We are making a very nice progress

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Speaker 3: together in this military campaign. Again, Use troops and Israeli

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Speaker 3: troops are fighting shoulder to shoulder. And then we will

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Speaker 3: continue together until the achievement of those military aims that

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Speaker 3: I just mentioned.

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Speaker 1: Okay, it gets me to my last question, and that

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Speaker 1: is will it be a horrible, horrible mistake by either

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Speaker 1: Israel and of the United States. And I know you

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Speaker 1: represent the nation of Israel, but would it be, in

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Speaker 1: your opinion, a horrible mistake if the job is not

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Speaker 1: finished and completed, and all of those are not achieved.

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Speaker 1: And how long will our two countries, our two groups

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Speaker 1: of citizens allow this campaign to go on. Obviously, it

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Speaker 1: cannot go on forever. There's no reason for to go

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Speaker 1: on forever. But is there any sort of a timeframe

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Speaker 1: that you can provide us that that you think might

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Speaker 1: be somewhat realistic? President Trump has and I think Secretary

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Speaker 1: Secretary of State Rubio suggested that we are fairly close

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Speaker 1: to the end of this. But I don't think that

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Speaker 1: it should be ended, you know, without it being accomplished.

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Speaker 1: And It's easy for me to say because I'm not

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Speaker 1: in Israel and I'm not on the ground, But I'd

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Speaker 1: love to know if you think that makes any sense.

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Speaker 3: Sure, I think, I say Secretary of State Rubio mentioned

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Speaker 3: earlier to be you know, he was speaking about weeks.

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Speaker 3: I think this is more or less similar to the

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Speaker 3: way that we are seeing the dynamic. I'd say, you know,

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Speaker 3: when you engage in such a military campaign, you know

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Speaker 3: there is no you know, a very specific, you know,

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Speaker 3: program that that you can prepare in advance, knowing that

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Speaker 3: on Wednesday twelve pm, right, and we are we are

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Speaker 3: looking at a very complicated business. We are, you know,

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Speaker 3: fighting together an adversary that have been building those capabilities

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Speaker 3: for you know, more than than forty years now, so

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Speaker 3: you know, this is not the business of running a

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Speaker 3: military campaign with the stop watch doesn't work this way.

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Speaker 3: I can say that, you know, after four weeks, we

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Speaker 3: are making a good progress together. And you know what,

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Speaker 3: I don't think that, you know, what we are witnessing

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Speaker 3: now is the end of it. I think we have

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Speaker 3: to remember after the last confrontation back in June, it

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Speaker 3: took the running people something like six months to go

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Speaker 3: to go out of the streets. But they went down

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Speaker 3: in the street. We all witnessed what happened in January.

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Speaker 3: They were encouraged, they were motivated to try to do

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Speaker 3: something to change the course of Iran, to have different leadership,

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Speaker 3: to have different kind of life and future for themselves.

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Speaker 3: It took them a while, but you know, eventually they

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Speaker 3: went out of the street. So I'm quite confident and

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Speaker 3: what we are witnessing now is definitely not the end

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Speaker 3: of it. And again I can definitely tell we are

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Speaker 3: making a very nice progress together and those armed forces

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Speaker 3: continue to fight together for the achievements of the aims

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Speaker 3: the goals that I just mentioned before.

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Speaker 1: I think it will be a wonderful sign if the

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Speaker 1: Iranian people are able to join in this battle for

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Speaker 1: the freedom. And I will leave it at that with you.

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Speaker 1: I'm sure you are looking forward to that day, mister

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Speaker 1: Consul General. Thank you for your time tonight. I'd love

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Speaker 1: to check back with you in the days ahead, because

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Speaker 1: you speak with a lot of clarity, and I'm not

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Speaker 1: sure that we are getting the clarity that we need

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Speaker 1: from Washington. And I think clarity is something that that

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Speaker 1: the Israeli people and the people of the United States deserve,

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Speaker 1: and I appreciate your your willingness to chat, to talk

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Speaker 1: about it and to I think be very clear in

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Speaker 1: what the goals are and what the goals are that

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Speaker 1: must be achieved.

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Speaker 2: Thank you again, sir, and god speed.

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Speaker 3: Thank you then, thank you to the listeners. Good good

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Speaker 3: for everyone.

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Speaker 2: Thank you very much.

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Speaker 1: The Israeli Console General to New England, Beni SHARONI. When

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Speaker 1: we get back, we're going to stay on topic, but

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Speaker 1: look at it from a little bit of a different perspective,

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Speaker 1: and that is the United States's perspective. Will be joined

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Speaker 1: by Business School professor Professor Greg Staller, of the Questrum

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Speaker 1: School of Business at Boston University. Today and yesterday were

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Speaker 1: really bad days on the US stock market, and I

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Speaker 1: think bad days on the US stock market are something

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Speaker 1: that this president will be thinking about, and certainly there

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Speaker 1: will be polling done in the next few days which

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Speaker 1: are probably going to raise some concerns for him politically

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Speaker 1: meeting President Trump, and we're going to talk about that

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Speaker 1: with Greg Staller because he is an economist and certainly

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Speaker 1: understands the stock market. This has been a very tough

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Speaker 1: week and things have to I think they have to

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Speaker 1: be some changes in the most recent direction of the

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Speaker 1: war in order for the stock market to rebound, which

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Speaker 1: is also again critical for public opinion, and public opinion

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Speaker 1: is very critical for the support of this effort. It's

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Speaker 1: a little complicated. Stay with us. My name's Dan Ray

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Speaker 1: and this is Nights. I'd be right back.

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Speaker 2: It's Night Side.

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Speaker 3: Boston's News Radio.

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Speaker 1: We are now joined by Professor Greg Staller of the

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Speaker 1: Questrum School. He's a Master lecturer at the Boston University Questrum.

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Speaker 2: School of Business.

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Speaker 1: I had the pleasure in the honor of speaking to

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Speaker 1: his class last Monday. Little did I think that he

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Speaker 1: would be back with us here on Friday Night. Professor

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Speaker 1: Stall's a graduate of Cornell Cornell University as his master

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Speaker 1: his NBA from Harvard, and has his doctorate in Business

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Speaker 1: administration from Marymount University. Just finished his dissertation recently. And

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Speaker 1: by the way, if you don't think I'm able to

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Speaker 1: bring really interesting guests, he reads, speaks, and writes seven languages,

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Speaker 1: and for many decades now has been taking undergraduate students

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Speaker 1: and graduate students to trips to China. He truly is

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Speaker 1: one of the most interesting people I know. Greg's Doaller.

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Speaker 1: Welcome back to Night's side. The table is now reversed.

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Speaker 1: I'm the interview, you're the interview.

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Speaker 4: Before we get started with the autowazaars. Dan, it was

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Speaker 4: great having you on campus and the positive feedback just

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Speaker 4: keeps coming from our students.

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Speaker 3: So thanks for your time.

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Speaker 1: An amazing and amazing group of students from literally all

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Speaker 1: over the world. Look, the Dow has taken quite a

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Speaker 1: hit in the last few days, well in the last month.

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Speaker 1: You provided me with a summary which this is not

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Speaker 1: my work, but I think it sets it up very nicely.

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Speaker 1: The Dow was up nearly thirteen percent in twenty twenty

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Speaker 1: five and it had a very solid run, and it's

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Speaker 1: still up about one is that thirteen percent since since

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Speaker 1: the administration went into office in January of twenty No.

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Speaker 4: That was January first and December thirty first and twenty

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Speaker 4: twenty five.

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Speaker 1: Okay, fair enough, So that goes back to the time

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Speaker 1: that President Biden was still in the White House, Okay,

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Speaker 1: and of course President Trump came in and the market

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Speaker 1: has some of that was with Biden, but so it

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Speaker 1: was in anticipation of Trump. Still up about one point

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Speaker 1: nine percent, so it's almost lost all of the gains

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Speaker 1: that it had made in the first thirteen or fourteen

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Speaker 1: months of the Trump administration.

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Speaker 2: Since the war.

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Speaker 1: Began four weeks ago tomorrow, the dial has fallen about

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Speaker 1: seven point eight percent from its record high of that

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Speaker 1: were a tenth. It's now down ten percent, which is

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Speaker 1: which officially is a correction for the economists of the

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Speaker 1: world out there. Oil was seventy four dollars a barrel

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Speaker 1: or sixty nine before the war. It's now up to

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Speaker 1: one hundred and thirteen and one hundred dollars, respectfully. Everybody

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Speaker 1: knows what happens with gas prices at the pump. I

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Speaker 1: called you today because I feel that the White House

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Speaker 1: maybe having military successes in the Middle East, but I

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Speaker 1: think that the President has muddied the waters with the

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Speaker 1: American people. I don't think the American people understand as

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Speaker 1: well as the Israelis understand what is at stake here.

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Speaker 1: So if we could start with that, I told you

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Speaker 1: today that I was very surprised and disappointed when Donald

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Speaker 1: Trump was sort of teasing us the other day that

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Speaker 1: there was a big gift that was coming from the running,

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Speaker 1: running and government or whatever's left of it. Do you

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Speaker 1: think that that confusion of a couple of days has

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Speaker 1: contributed to this precipitous decline the last two days, or

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Speaker 1: am I imagining things?

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Speaker 4: I mean, I certainly think it plays the part, But

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Speaker 4: I think that Americans aren't stupid that beyond the twenty

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Speaker 4: four seconds of the twenty four hour news cycle, since

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Speaker 4: this thing started weeks ago, oil is up. And you know,

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Speaker 4: I think it's important to mention to your listeners that

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Speaker 4: energy and you know, whatever you call it is part

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Speaker 4: of everything in our economy, whether it's you know, gas

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Speaker 4: at the pump, heating, oil, jet fuel, shipping, logistics, plastics

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Speaker 4: and chemicals, fertilizer, It hits everything. So you know, to

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Speaker 4: the tariffs that I've been fortunate enough to be on

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Speaker 4: your show several times talking about that, that's to an

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Speaker 4: extent predictable. They're usually announced in advance, they're phased in

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Speaker 4: oil shocks or overnight with pricing. And do people want

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Speaker 4: the war to end? I'm sure do they want it

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Speaker 4: to go out with a bang?

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Speaker 3: No pun?

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Speaker 4: Intended in the sense that maybe President Trump can give

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Speaker 4: you know, all of the countries involved, Israeli around in

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Speaker 4: the United States the gift. But regardless of what it

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Speaker 4: is and how he does it, right now, it is

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Speaker 4: hitting everybody across the board in terms of their pocketbooks.

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Speaker 1: Yeah, and obviously, as I've said, when when gas prices

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Speaker 1: were dropping, I'm gonna have to say when gas prices

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Speaker 1: are going up, that everything that you buy is transported

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Speaker 1: by truck at some point, whether it's you know, the

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Speaker 1: oranges that you buy at the store, or the clothes

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Speaker 1: that you buy at.

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Speaker 2: Target or or Walmart or Walmart or whatever.

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Speaker 1: So So here's let me just play Devil's advocate a

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Speaker 1: little bit for a second.

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Speaker 2: The American people, I.

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Speaker 1: Think understand that Iran is a is a is a

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Speaker 1: bad country, uh to live in very few Americans would

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Speaker 1: want to live in Iran under a theocracy, at a

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Speaker 1: theocratic dictatorship. But I think that there's a portion of

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Speaker 1: America that says, well, that's not a none of our business.

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Speaker 1: I think that we have an isolationist streak within within

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Speaker 1: our genes. But this is once once you drop the

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Speaker 1: gloves here, the the administration has to finish the job.

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Speaker 1: I mean, I don't think that that this is going

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Speaker 1: to end with a you know, a Vietnam Paris type negotiations, uh, which.

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Speaker 4: Conflict I think, well, I think again, I can't speak

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Speaker 4: to politics, that's not you know how I'm trained. But

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Speaker 4: what I can what I can tell you is that

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Speaker 4: two thirds of the war of the world's oil comes

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Speaker 4: from you know, Europe, Africa, and the Middle East exports.

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Speaker 4: So if you assume, just for the purpose of this conversation,

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Speaker 4: that you split it down the middle one third from Europe,

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Speaker 4: one third from Africa, one third from the Middle East,

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Speaker 4: we're in trouble. And you know, for the benefit of

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Speaker 4: your listeners, there are two types of oil. There's Brent oil,

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Speaker 4: and that's what I was talking about before, from the

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Speaker 4: north from the North Sea, United Kingdom and Norway, WTI,

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Speaker 4: West Texas. Intermediate comes from Texas, especially the Permian Basin.

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Speaker 4: I don't think we can hide behind the cloak that

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Speaker 4: United States is no longer dependent on imported oil, that

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Speaker 4: we're completely self sufficient, that energy usage is down in

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Speaker 4: our country. It's still hitting us, and it's hitting us hard.

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Speaker 4: And you're, regardless of how the war ends, when the

439
00:28:03,640 --> 00:28:07,920
Speaker 4: war ends, or to what extent people walk away limping

440
00:28:08,119 --> 00:28:12,000
Speaker 4: or cheering in the interim, we are still paying more

441
00:28:12,080 --> 00:28:15,880
Speaker 4: money for everyday life that we go, that we experience.

442
00:28:16,280 --> 00:28:19,520
Speaker 1: Okay, so let me challenge you a little bit on that.

443
00:28:20,080 --> 00:28:23,680
Speaker 1: I'll leave this as a question. What is different about

444
00:28:23,680 --> 00:28:26,000
Speaker 1: this and about this danger?

445
00:28:27,760 --> 00:28:29,360
Speaker 2: We hung for.

446
00:28:29,359 --> 00:28:33,200
Speaker 1: Twenty years, which was much longer than we should have

447
00:28:33,640 --> 00:28:38,560
Speaker 1: in Iraq and Afghanistan. I don't think there was a

448
00:28:38,640 --> 00:28:43,280
Speaker 1: feeling after we were attacked by Japan in World War

449
00:28:43,320 --> 00:28:47,320
Speaker 1: Two that we weren't going to be people weren't going

450
00:28:47,360 --> 00:28:50,840
Speaker 1: to be doing stories about why have we not accomplished this?

451
00:28:51,560 --> 00:28:56,920
Speaker 1: Why is our is our patience so short at this moment?

452
00:29:00,240 --> 00:29:03,680
Speaker 1: Other times I'm seeking, specifically, let us say, World War two,

453
00:29:04,040 --> 00:29:07,040
Speaker 1: where everybody understood we're in this for the long haul.

454
00:29:07,280 --> 00:29:10,560
Speaker 1: I know nobody wants the long haul, but does the

455
00:29:10,600 --> 00:29:13,959
Speaker 1: admitted Again, I don't want to keep asking political questions,

456
00:29:13,960 --> 00:29:18,480
Speaker 1: but will this drop in the stock market force the

457
00:29:18,560 --> 00:29:23,040
Speaker 1: administration to maybe recognize a reality that you have talked

458
00:29:23,040 --> 00:29:27,560
Speaker 1: about to me before that maybe I don't understand.

459
00:29:28,760 --> 00:29:31,800
Speaker 4: I don't think it's a lack of understanding. I think

460
00:29:31,840 --> 00:29:35,200
Speaker 4: the world has changed in the sense that after World

461
00:29:35,240 --> 00:29:38,360
Speaker 4: War Two, how did Americans consume their news? How did

462
00:29:38,360 --> 00:29:43,080
Speaker 4: the world consume their news? They consumed it via newspapers, magazines,

463
00:29:43,320 --> 00:29:47,680
Speaker 4: and trustrial radio. Now how do you consume news? There

464
00:29:47,720 --> 00:29:51,080
Speaker 4: are ten or twelve different ways that you consume that news,

465
00:29:51,360 --> 00:29:54,120
Speaker 4: and the stock market is watching all of them. And

466
00:29:54,200 --> 00:29:57,360
Speaker 4: I think that after World War two was the stock

467
00:29:57,400 --> 00:30:00,120
Speaker 4: market effected? Of course the stock market was affected, but

468
00:30:00,200 --> 00:30:04,040
Speaker 4: it probably was affected once a day, maybe a couple

469
00:30:04,040 --> 00:30:06,640
Speaker 4: of times a week, depending on what came out in

470
00:30:06,680 --> 00:30:12,000
Speaker 4: the morning printed newspaper. Now somebody does something, it rattles

471
00:30:12,000 --> 00:30:16,640
Speaker 4: around on social media. The Dow can literally whipsaw during

472
00:30:17,040 --> 00:30:20,880
Speaker 4: intra day trading by a few hundred points, and nobody

473
00:30:21,200 --> 00:30:24,640
Speaker 4: can necessarily say it's because of X or Y or Z.

474
00:30:25,240 --> 00:30:29,120
Speaker 4: It's a little bit of everything. But yet the market Gyrates,

475
00:30:29,560 --> 00:30:32,720
Speaker 4: and I think we are probably a little bit more

476
00:30:32,760 --> 00:30:37,080
Speaker 4: nervous than we were after World War Two because we're

477
00:30:37,080 --> 00:30:40,360
Speaker 4: all interconnected. And I think if you go back, you know,

478
00:30:40,520 --> 00:30:44,040
Speaker 4: so many years, you know, a decade earlier, if you will,

479
00:30:44,040 --> 00:30:48,440
Speaker 4: we connected. Yeah, but it was sort of this this weird,

480
00:30:48,800 --> 00:30:51,800
Speaker 4: sort of exotic thing. You can get on a plane

481
00:30:51,840 --> 00:30:55,120
Speaker 4: and in the world of twa you know, trans world airways,

482
00:30:55,160 --> 00:30:57,640
Speaker 4: you go from one country to another. Now you can

483
00:30:57,680 --> 00:31:00,880
Speaker 4: do that in minutes. Literally go to the airport, you

484
00:31:00,880 --> 00:31:02,520
Speaker 4: get a ticket, and you know, you wake up and

485
00:31:02,560 --> 00:31:06,040
Speaker 4: you're in another country. So I think people are ultra

486
00:31:06,160 --> 00:31:09,640
Speaker 4: ultra sensitive to anything good news or bad news.

487
00:31:10,000 --> 00:31:13,120
Speaker 1: My guest is Professor Greg Staaler, Boston University, Question of

488
00:31:13,160 --> 00:31:17,200
Speaker 1: School of Business. Greg, let's we'll open up some phone

489
00:31:17,240 --> 00:31:21,320
Speaker 1: lines here and give people an opportunity to join the conversation. Obviously, uh,

490
00:31:21,840 --> 00:31:25,680
Speaker 1: the Consul general's comments on behalf of the nation of

491
00:31:25,720 --> 00:31:31,720
Speaker 1: Israel or diplomatic comments, but also there they're political comments,

492
00:31:32,040 --> 00:31:34,960
Speaker 1: yours are economic comments.

493
00:31:35,640 --> 00:31:35,920
Speaker 2: UH.

494
00:31:35,960 --> 00:31:39,160
Speaker 1: And I want to give people an opportunity to talk

495
00:31:39,200 --> 00:31:42,520
Speaker 1: to you, ask questions, UH, and also express their opinions

496
00:31:42,760 --> 00:31:46,440
Speaker 1: six one seven four ten, thirty six one seven nine three,

497
00:31:46,800 --> 00:31:49,600
Speaker 1: ten thirty. I don't think there's any other topic that

498
00:31:49,640 --> 00:31:52,800
Speaker 1: we can talk about tonight other than what the stock

499
00:31:52,880 --> 00:31:56,640
Speaker 1: market did today or did not do today, and how

500
00:31:56,840 --> 00:32:03,160
Speaker 1: that precipitous drop of two days will eventually impact the

501
00:32:03,280 --> 00:32:07,920
Speaker 1: polls that I'm sure of being taken tonight around the country,

502
00:32:08,120 --> 00:32:10,800
Speaker 1: and how in turn that will have an impact on

503
00:32:10,920 --> 00:32:14,400
Speaker 1: the conduct of the war. So open the lines up, Rob,

504
00:32:14,480 --> 00:32:17,760
Speaker 1: We'll be back with Professor Greg Staller, Boston University, Question

505
00:32:17,880 --> 00:32:20,960
Speaker 1: School of Business in your conversations and questions, and we

506
00:32:21,000 --> 00:32:24,720
Speaker 1: will do this only until eleven o'clock because at eleven

507
00:32:24,760 --> 00:32:27,240
Speaker 1: o'clock we're going twenty eighth hour as we always do,

508
00:32:27,360 --> 00:32:30,800
Speaker 1: coming back on Nightside. You're on Night Side with Dan

509
00:32:30,880 --> 00:32:36,560
Speaker 1: ray One you Bzy Boston's News Radio. We are delighted

510
00:32:36,560 --> 00:32:39,200
Speaker 1: to have on the line with us Professor Greg Staller

511
00:32:39,240 --> 00:32:43,240
Speaker 1: from the Question School of Business. He's a business professor.

512
00:32:44,160 --> 00:32:46,840
Speaker 1: We've had him many times. I think Greg tells me

513
00:32:46,880 --> 00:32:51,760
Speaker 1: this is his eighteenth appearance tonight, so we'll probably get

514
00:32:51,800 --> 00:32:56,800
Speaker 1: to twenty a lot quicker than people realize. Greg, I

515
00:32:56,840 --> 00:32:59,680
Speaker 1: have one of my best callers on the line, and

516
00:32:59,720 --> 00:33:02,960
Speaker 1: I'm this seriously. I want to bring him on because

517
00:33:03,000 --> 00:33:06,080
Speaker 1: I think that he will be a he'll ask some

518
00:33:06,160 --> 00:33:09,240
Speaker 1: observations that I think as proud as you are of

519
00:33:09,280 --> 00:33:13,920
Speaker 1: your students, and rightfully so. This is Steve from Cambridge. Hey, Steve, welcome.

520
00:33:13,960 --> 00:33:18,440
Speaker 1: You're Professor Greg Staller of Boston University. You have listened carefully,

521
00:33:18,480 --> 00:33:22,240
Speaker 1: I'm sure to the interview with Benny SHARONI and you've heard.

522
00:33:22,360 --> 00:33:26,400
Speaker 2: What Professor Staller has to say. You have the floor, Steve.

523
00:33:27,800 --> 00:33:31,160
Speaker 5: Good Evening, Dan Good evening. Professor, I have a general

524
00:33:31,840 --> 00:33:37,800
Speaker 5: question regarding economics, not necessarily related to what's going on now,

525
00:33:37,840 --> 00:33:42,560
Speaker 5: but perhaps you could enlighten us. When people get sick,

526
00:33:42,760 --> 00:33:46,200
Speaker 5: they always want to know what causes it, but sometimes

527
00:33:46,240 --> 00:33:48,760
Speaker 5: it's pretty hard to determine what the cause of an

528
00:33:48,760 --> 00:33:53,720
Speaker 5: illness is. Likewise, when the stock market goes up or

529
00:33:53,760 --> 00:33:57,880
Speaker 5: the stock market goes down, everyone is very quick to

530
00:33:58,000 --> 00:34:02,160
Speaker 5: assume it's because of this or because of that. How

531
00:34:02,160 --> 00:34:06,600
Speaker 5: do we know that, For example, in this case, the

532
00:34:06,640 --> 00:34:10,160
Speaker 5: war in Iran is what is causing the stock market

533
00:34:10,200 --> 00:34:13,120
Speaker 5: to go down. But in general, how do we know

534
00:34:13,520 --> 00:34:16,560
Speaker 5: what the cause of the fluctuations of this stock market is?

535
00:34:17,440 --> 00:34:22,200
Speaker 4: Great question, Steve. I would say that the reason that

536
00:34:22,239 --> 00:34:25,480
Speaker 4: I'm pretty confident. It's affecting the market is the market

537
00:34:25,640 --> 00:34:29,680
Speaker 4: is always trading on future news and future outlook. It

538
00:34:29,719 --> 00:34:34,120
Speaker 4: doesn't take here and now approach. It's trading on what

539
00:34:34,400 --> 00:34:36,640
Speaker 4: they think is going to happen, what the pundits think

540
00:34:36,680 --> 00:34:39,680
Speaker 4: is going to happen six, twelve, eighteen months in the future.

541
00:34:39,960 --> 00:34:43,040
Speaker 4: And people are general and when people get generate, the

542
00:34:43,040 --> 00:34:46,719
Speaker 4: markets get generating vice versa. And people are trying to

543
00:34:46,719 --> 00:34:49,000
Speaker 4: figure out how the heck they're going to get through

544
00:34:49,000 --> 00:34:53,919
Speaker 4: life in Massachusetts at you know, four dollars and three

545
00:34:53,960 --> 00:34:56,960
Speaker 4: dollars an audience at the gallon or even more depending

546
00:34:57,000 --> 00:34:57,720
Speaker 4: on where you are.

547
00:34:57,560 --> 00:34:58,120
Speaker 3: In the country.

548
00:34:58,120 --> 00:35:00,839
Speaker 4: And I think that that dollar for gall and when

549
00:35:00,880 --> 00:35:03,279
Speaker 4: people are so dependent on their car, and by the way,

550
00:35:03,280 --> 00:35:05,799
Speaker 4: if you have an EV it's the same. It just

551
00:35:05,840 --> 00:35:10,359
Speaker 4: electricity becomes more expensive, I think is not just agonizing

552
00:35:10,400 --> 00:35:11,400
Speaker 4: but terrifying for.

553
00:35:11,400 --> 00:35:12,760
Speaker 3: A certain portion of the population.

554
00:35:14,080 --> 00:35:16,680
Speaker 5: Well, what happened in the depression of twenty nine, I

555
00:35:16,719 --> 00:35:19,120
Speaker 5: mean to start right, the Byron fell out of it.

556
00:35:19,719 --> 00:35:23,640
Speaker 5: But did anyone say there was a cause or was

557
00:35:23,680 --> 00:35:24,880
Speaker 5: it just unknown?

558
00:35:26,400 --> 00:35:32,920
Speaker 4: I think that you're talking about two different periods of history.

559
00:35:33,840 --> 00:35:36,480
Speaker 4: You're talking about the market.

560
00:35:36,200 --> 00:35:38,960
Speaker 3: Being almost the.

561
00:35:38,239 --> 00:35:42,359
Speaker 4: Sole way that people saved money besides putting it under

562
00:35:42,400 --> 00:35:45,759
Speaker 4: a mattress. The bond market wasn't as developed as it

563
00:35:45,840 --> 00:35:48,359
Speaker 4: is now. The stock market was sort of the only

564
00:35:48,440 --> 00:35:51,400
Speaker 4: game in town outside of putting money under your mattress

565
00:35:51,440 --> 00:35:55,280
Speaker 4: or putting it into a bank. The stock market almost

566
00:35:56,000 --> 00:36:00,920
Speaker 4: evaporated completely, and people literally thought that they had lost everything.

567
00:36:01,440 --> 00:36:05,239
Speaker 4: I don't think a ten percent decline, you know, which

568
00:36:05,280 --> 00:36:08,759
Speaker 4: is officially a correction, is at all akin to what

569
00:36:08,920 --> 00:36:12,200
Speaker 4: happened in the Great Depression. But I will tell you

570
00:36:12,280 --> 00:36:16,560
Speaker 4: that without sounding melodramatic, it's not good. And if you

571
00:36:16,800 --> 00:36:21,319
Speaker 4: think about, you know, just the economic data at the

572
00:36:21,440 --> 00:36:23,920
Speaker 4: end of the day, you know, there have been twenty

573
00:36:24,000 --> 00:36:27,640
Speaker 4: seven market corrections since nineteen seventy four, only six of

574
00:36:27,680 --> 00:36:30,520
Speaker 4: them turned into bear markets. If this is a one

575
00:36:30,560 --> 00:36:33,000
Speaker 4: and done, to Dan's point earlier, and the war is

576
00:36:33,360 --> 00:36:36,680
Speaker 4: peacefully resolved, and I don't know, take a timeframe seven

577
00:36:36,760 --> 00:36:40,000
Speaker 4: to ten days from now and things revert to normal,

578
00:36:40,200 --> 00:36:42,440
Speaker 4: I think everybody's going to be okay. But if this

579
00:36:42,480 --> 00:36:45,200
Speaker 4: turns into a bear market or the very recession of

580
00:36:45,280 --> 00:36:49,000
Speaker 4: President Trump is concerned about, especially with the midterm elections

581
00:36:49,040 --> 00:36:52,080
Speaker 4: coming up this fall, then I think that's what's really

582
00:36:52,120 --> 00:36:55,719
Speaker 4: causing people to start biting your fingernails down to the boat.

583
00:36:56,880 --> 00:36:59,480
Speaker 5: All right, thank you very much, gentlemen, Thank you, Professor.

584
00:37:00,040 --> 00:37:01,600
Speaker 2: We appreciate, appreciate your call.

585
00:37:02,080 --> 00:37:04,879
Speaker 1: Not only are his questions good, but he also knows

586
00:37:04,920 --> 00:37:10,839
Speaker 1: we're coming up the ten o'clock news. So I've known

587
00:37:10,880 --> 00:37:13,319
Speaker 1: Steve for many years, never met him to the best

588
00:37:13,320 --> 00:37:16,040
Speaker 1: of my knowledge, but he is one of my the

589
00:37:16,120 --> 00:37:17,359
Speaker 1: callers that I'm so proud of.

590
00:37:17,840 --> 00:37:19,279
Speaker 3: But we have other calls.

591
00:37:20,239 --> 00:37:23,359
Speaker 1: Thanks thanks Steve. Talk so, but we will get other

592
00:37:23,440 --> 00:37:26,319
Speaker 1: callers on the other side. Let's continue the conversation. And

593
00:37:28,160 --> 00:37:32,640
Speaker 1: I know that you're not gonna wax political. I get that, okay. However,

594
00:37:32,680 --> 00:37:35,920
Speaker 1: there is sort of an intersection here of economics and

595
00:37:36,000 --> 00:37:39,600
Speaker 1: politics that we cannot ignore. And if I could get

596
00:37:39,600 --> 00:37:41,799
Speaker 1: you to stay into the next hour, I'd appreciate it

597
00:37:42,120 --> 00:37:44,759
Speaker 1: so that people can make maybe we can make them

598
00:37:44,880 --> 00:37:50,360
Speaker 1: understand and help me understand what happened in the last

599
00:37:50,560 --> 00:37:55,120
Speaker 1: two days that you almost felt that, okay, it was

600
00:37:55,160 --> 00:37:57,920
Speaker 1: going to bounce back, But now my feeling is a

601
00:37:57,960 --> 00:37:59,680
Speaker 1: little different than it was a few days ago.

602
00:37:59,719 --> 00:38:02,879
Speaker 2: We'll take can break. My guest is Professor Craig Staller.

603
00:38:02,560 --> 00:38:04,719
Speaker 1: Greg, you know the drill better than anybody, so we'll

604
00:38:04,760 --> 00:38:06,880
Speaker 1: be back in about six minutes or so. If you

605
00:38:06,880 --> 00:38:08,759
Speaker 1: want to get up and stretch your legs, that'd be great.

606
00:38:09,080 --> 00:38:12,640
Speaker 1: Those of you who are listening, here's the number six one, seven, two, five, four,

607
00:38:12,760 --> 00:38:16,280
Speaker 1: ten thirty six one seven, nine three one ten thirty.

608
00:38:16,960 --> 00:38:20,080
Speaker 1: I do want to talk about this next hour, and

609
00:38:20,160 --> 00:38:22,839
Speaker 1: we will, but we will end it no later than

610
00:38:22,880 --> 00:38:25,040
Speaker 1: eleven o'clock because we are going to the twentieth hour.

611
00:38:25,080 --> 00:38:27,400
Speaker 1: Feel free to light the lines up. There are no

612
00:38:27,560 --> 00:38:30,719
Speaker 1: dumb questions, only the ones. The only dumb questions are

613
00:38:30,719 --> 00:38:33,480
Speaker 1: the ones you're afraid to ask. We're blessed to have

614
00:38:33,920 --> 00:38:37,120
Speaker 1: to have doctor now Professor Staller with us. Let's take

615
00:38:37,160 --> 00:38:38,760
Speaker 1: advantage of it. Coming back on nightside