1 00:00:00,080 --> 00:00:03,920 Speaker 1: It's more and more, mister New York on sevent ten 2 00:00:04,320 --> 00:00:05,040 Speaker 1: w R. 3 00:00:07,040 --> 00:00:12,719 Speaker 2: Well, welcome to the hunt for Steve Moore. Uh, we're 4 00:00:12,720 --> 00:00:16,040 Speaker 2: going to get him right. We've made contact with him, 5 00:00:16,040 --> 00:00:23,520 Speaker 2: the great economist, and he leads the Great Committee Unleashed Prosperity. 6 00:00:24,040 --> 00:00:26,280 Speaker 2: By the way, every day they put out the best 7 00:00:26,400 --> 00:00:30,040 Speaker 2: daily briefing with news and analysis. You'll love it. It's free, 8 00:00:30,080 --> 00:00:32,599 Speaker 2: it'll come write to your email. Go sign up for it. 9 00:00:32,680 --> 00:00:37,559 Speaker 2: Go to Unleash Prosperity dot com. Unleash Prosperity dot com 10 00:00:37,600 --> 00:00:41,159 Speaker 2: and get Steve Moore's latest book, The Trump Economic Miracle. 11 00:00:41,240 --> 00:00:43,720 Speaker 2: You'll love it. Steve Moore, How you doing. 12 00:00:44,800 --> 00:00:48,280 Speaker 3: They Mark? I am doing really well. I think that 13 00:00:48,360 --> 00:00:51,360 Speaker 3: this economy is flying high. I think all the signals 14 00:00:52,120 --> 00:00:56,200 Speaker 3: are pointing north, whether it's incomes, and we're seeing a 15 00:00:56,200 --> 00:00:58,400 Speaker 3: lot of new jobs, a lot of new manufacturing, a 16 00:00:58,400 --> 00:01:00,720 Speaker 3: lot of money poor into the United States. I think 17 00:01:00,760 --> 00:01:05,000 Speaker 3: were they out economy? And so I'm very bullish right 18 00:01:05,000 --> 00:01:05,679 Speaker 3: now about you. 19 00:01:06,080 --> 00:01:08,119 Speaker 2: Yeah, you know, well, I'm not an expert like you are. 20 00:01:08,120 --> 00:01:11,000 Speaker 2: But the jobs number looked okay, not great, But if 21 00:01:11,040 --> 00:01:13,920 Speaker 2: you look at the household survey, it looked great. What 22 00:01:14,319 --> 00:01:16,200 Speaker 2: is the difference between the two things. 23 00:01:16,880 --> 00:01:18,959 Speaker 3: Well, I don't want to get too far into the weeds. 24 00:01:19,600 --> 00:01:22,120 Speaker 3: I don't want to be a nerdy coniser. But basically 25 00:01:22,120 --> 00:01:24,680 Speaker 3: they do serves one of us households and one of 26 00:01:24,720 --> 00:01:27,720 Speaker 3: the businesses, and they pointed in different directions, and so 27 00:01:28,920 --> 00:01:35,040 Speaker 3: the household survey showed a big gain in jobs and 28 00:01:35,080 --> 00:01:37,560 Speaker 3: the other one just showed a little tiny game. I 29 00:01:37,640 --> 00:01:39,920 Speaker 3: don't know which one to believe. I think maybe somewhere 30 00:01:39,959 --> 00:01:42,000 Speaker 3: in the middle. But look, the problem in the United 31 00:01:42,040 --> 00:01:45,440 Speaker 3: States is not a shortage of jobs. It isn't it's 32 00:01:45,440 --> 00:01:48,360 Speaker 3: a shortage of workers. I mean, we have eleven thousand 33 00:01:48,440 --> 00:01:51,920 Speaker 3: American retirement every day and eight thousand people that work 34 00:01:52,000 --> 00:01:57,240 Speaker 3: for so just do the math there are our labor 35 00:01:57,240 --> 00:01:59,440 Speaker 3: force is going to be shrinking unless we have immigration 36 00:01:59,520 --> 00:02:01,880 Speaker 3: and unless get the people who are on employed in 37 00:02:01,880 --> 00:02:06,440 Speaker 3: into jobs. So if you talk to most businesses, they say, look, 38 00:02:06,440 --> 00:02:08,360 Speaker 3: we're hiring, we just can't find the people with the 39 00:02:08,400 --> 00:02:10,960 Speaker 3: skills we need. You saw Bill Ford, you know, who, 40 00:02:11,160 --> 00:02:13,359 Speaker 3: of course is the president of Ford Motor Company, Yeah, 41 00:02:13,480 --> 00:02:16,320 Speaker 3: saying we have fifteen thousand mechanic jobs open and those 42 00:02:16,400 --> 00:02:17,919 Speaker 3: day over one hundred thousand dollars a year. And we 43 00:02:17,960 --> 00:02:18,600 Speaker 3: can't fill them. 44 00:02:19,320 --> 00:02:22,079 Speaker 2: Wow. Yeah, I know that's and for it's an example 45 00:02:22,120 --> 00:02:25,720 Speaker 2: of a great American company that's a coming back manufacturing 46 00:02:25,720 --> 00:02:26,400 Speaker 2: in America. 47 00:02:26,560 --> 00:02:28,040 Speaker 1: Yep and yep. 48 00:02:28,280 --> 00:02:31,280 Speaker 3: I mean, you know it's interesting, Mark, because you probably 49 00:02:31,360 --> 00:02:33,640 Speaker 3: said a lot of your listeners, and I'm sure you 50 00:02:33,680 --> 00:02:35,959 Speaker 3: saw Trump, you know, give that little talk at the 51 00:02:36,720 --> 00:02:39,640 Speaker 3: Ford plant where they make the F one fifty. And 52 00:02:39,800 --> 00:02:42,519 Speaker 3: you know, when I was a kid, you know, I 53 00:02:43,320 --> 00:02:45,360 Speaker 3: in the early seventies, when I grew up in Chicago, 54 00:02:45,400 --> 00:02:46,040 Speaker 3: we took a trip. 55 00:02:46,080 --> 00:02:47,720 Speaker 1: We drove to Detroit and. 56 00:02:47,600 --> 00:02:50,040 Speaker 3: We went to the Kellogg's factory, and we went to 57 00:02:50,040 --> 00:02:52,880 Speaker 3: the steel plants, and we went to the Ford you 58 00:02:52,919 --> 00:02:56,400 Speaker 3: know plant there. And back then this was nearly seventy 59 00:02:56,760 --> 00:02:59,800 Speaker 3: like sweatshops. I mean, those are tough factory jobs, you know. 60 00:03:00,200 --> 00:03:02,880 Speaker 3: And I looked at the factories, you know, that factory, 61 00:03:02,960 --> 00:03:05,760 Speaker 3: that four factory today. It didn't look at anything like 62 00:03:05,800 --> 00:03:08,280 Speaker 3: that fifty years ago. And so my point is, you 63 00:03:08,320 --> 00:03:12,480 Speaker 3: know that it's changed a lot, these kind of manufacturing jobs, 64 00:03:12,560 --> 00:03:15,519 Speaker 3: and it so much is done with automation now, and 65 00:03:17,360 --> 00:03:19,600 Speaker 3: so it's it's amazing and the fact that we're now, 66 00:03:20,080 --> 00:03:23,079 Speaker 3: you know, producing more cars is a really positive thing 67 00:03:23,160 --> 00:03:26,440 Speaker 3: and producing America. Trump that it used to be the factory. 68 00:03:26,520 --> 00:03:30,880 Speaker 3: We're moving from Michigan to Mexico. And now they're moving 69 00:03:30,880 --> 00:03:32,080 Speaker 3: from Mexicano Michigan. 70 00:03:32,320 --> 00:03:35,480 Speaker 2: Yeah. Hey, speaking of all that, you know, years ago, 71 00:03:35,640 --> 00:03:38,320 Speaker 2: the Democratic Party was the party of the working class. 72 00:03:38,360 --> 00:03:41,160 Speaker 2: You thought of a Democrat voter, you thought of the factory, 73 00:03:41,720 --> 00:03:44,680 Speaker 2: the lunch bucket, the hard hat. Now you think of 74 00:03:44,720 --> 00:03:46,280 Speaker 2: a Democrat vot do you think of a nose ring, 75 00:03:46,480 --> 00:03:50,680 Speaker 2: pink hair? They don't work. Chasing the ice around what happened. 76 00:03:52,480 --> 00:03:54,680 Speaker 3: It's a great point, I think one of the real 77 00:03:54,920 --> 00:04:01,120 Speaker 3: uh political positions that has happened in the last fifteen repointers, 78 00:04:01,200 --> 00:04:04,400 Speaker 3: especially in the Europe Trump, it's been Trump really has 79 00:04:04,440 --> 00:04:07,880 Speaker 3: turned the Republican Party into the party of the working class, 80 00:04:08,520 --> 00:04:13,120 Speaker 3: and Democrats have become the party of the league. And 81 00:04:13,160 --> 00:04:17,440 Speaker 3: so that's why you're seeing you know, uh they have 82 00:04:17,680 --> 00:04:19,839 Speaker 3: in the cities and so on. I mean, you look 83 00:04:19,880 --> 00:04:22,279 Speaker 3: at what's happening in New York City and it's just 84 00:04:22,400 --> 00:04:26,000 Speaker 3: it breaks my home mark. I mean, you live there 85 00:04:26,040 --> 00:04:30,520 Speaker 3: in the New York It's just how can you who 86 00:04:30,560 --> 00:04:34,080 Speaker 3: admits that he's a socialist, where is socialism? Point to 87 00:04:34,080 --> 00:04:35,880 Speaker 3: a cit place where it works. 88 00:04:36,279 --> 00:04:36,479 Speaker 1: Yeah. 89 00:04:37,080 --> 00:04:39,600 Speaker 2: Uh, well, but the president seems to have a good 90 00:04:39,640 --> 00:04:44,760 Speaker 2: relationship with mom Donnie, not that it's ye done anything relationship. 91 00:04:44,920 --> 00:04:47,239 Speaker 3: He also has a good relationship now with pok. 92 00:04:47,160 --> 00:04:55,320 Speaker 1: Honest up, Steve, are you there a credit cards? 93 00:04:55,440 --> 00:04:55,680 Speaker 2: Yeah? 94 00:04:56,240 --> 00:04:57,320 Speaker 1: Uh hey? 95 00:04:57,520 --> 00:05:01,880 Speaker 2: Speaking of credit cards, this idea of capping, because they're interesting, Well, 96 00:05:01,920 --> 00:05:06,400 Speaker 2: the interest rate on a credit card can be ridiculously high. 97 00:05:06,640 --> 00:05:07,520 Speaker 2: Why not a cap? 98 00:05:08,960 --> 00:05:12,920 Speaker 3: Well, because if you do that, it's because they've tried 99 00:05:12,920 --> 00:05:15,359 Speaker 3: this before. When you put these kind of caps on, 100 00:05:15,920 --> 00:05:18,560 Speaker 3: then then they issue fewer credit cards, and we estimated 101 00:05:18,600 --> 00:05:23,200 Speaker 3: millions of Americans will lose, especially lower income Americans, Americans 102 00:05:23,200 --> 00:05:25,560 Speaker 3: with poorer credit ratings, and then they're not going to 103 00:05:25,600 --> 00:05:27,320 Speaker 3: have access to credit at Oh then what are they 104 00:05:27,320 --> 00:05:28,800 Speaker 3: gonna have to do? They're gonna have to go to 105 00:05:29,360 --> 00:05:32,440 Speaker 3: you know, Guido the loan Shark you can get money. 106 00:05:33,160 --> 00:05:37,240 Speaker 3: So I think it's a really bad idea. And I'm 107 00:05:37,240 --> 00:05:39,440 Speaker 3: not a financial advisor, but I will advise this to 108 00:05:39,520 --> 00:05:42,440 Speaker 3: your listeners. The worst way to borrow is to borrow 109 00:05:42,440 --> 00:05:44,480 Speaker 3: off your credit card. People are stupid to do that, 110 00:05:45,040 --> 00:05:47,880 Speaker 3: and we should. We need more financial literacy in this country. 111 00:05:47,920 --> 00:05:50,120 Speaker 3: You're better off taking a loan at a bank than 112 00:05:50,160 --> 00:05:52,400 Speaker 3: borrowing off your credit cards because you said they'll pay you, 113 00:05:52,480 --> 00:05:55,760 Speaker 3: they'll charge your twenty two percent interest. So don't that. 114 00:05:55,839 --> 00:05:58,480 Speaker 3: Credit cards are not for borrowing. And if you get 115 00:05:58,600 --> 00:06:00,320 Speaker 3: if you get into debt on your credit card, try 116 00:06:00,360 --> 00:06:04,160 Speaker 3: to pay it back as quickly as possible. So, but look, 117 00:06:04,160 --> 00:06:07,200 Speaker 3: the banks don't make money when people go, uh, you know, 118 00:06:07,279 --> 00:06:09,360 Speaker 3: go don't link went on their credit cards. But they 119 00:06:09,360 --> 00:06:11,839 Speaker 3: have to recapture, you know, they pay you know, they're 120 00:06:11,839 --> 00:06:13,960 Speaker 3: paying the same four percent interest rate, they pay six 121 00:06:14,000 --> 00:06:17,120 Speaker 3: percent on the capture. They pay all these costs. So 122 00:06:18,480 --> 00:06:22,280 Speaker 3: there's way. But I saw at two trillion dollars of 123 00:06:22,320 --> 00:06:24,400 Speaker 3: debt on people's credit cards. That's bad. 124 00:06:25,520 --> 00:06:29,479 Speaker 2: Yeah, I remember that Warren Buffett. That old woman said, uh, 125 00:06:29,520 --> 00:06:30,880 Speaker 2: he said, well what do you Oh, it's well my 126 00:06:30,920 --> 00:06:32,600 Speaker 2: credit card did well, how much you're paying a twenty 127 00:06:32,600 --> 00:06:34,960 Speaker 2: two percent? And he said pay it off immediately. She said, 128 00:06:34,960 --> 00:06:37,360 Speaker 2: well I need money. He said, I'll give you all 129 00:06:37,400 --> 00:06:39,359 Speaker 2: the money you want if you're paying twenty two percent. 130 00:06:39,960 --> 00:06:43,320 Speaker 3: So right, exactly. So it's just a bad way to burow. 131 00:06:43,320 --> 00:06:46,039 Speaker 3: And people are gonna look, I'm I have relatives who've 132 00:06:46,040 --> 00:06:48,520 Speaker 3: gotten into the card trouble. And then the problem is 133 00:06:48,520 --> 00:06:51,000 Speaker 3: then if you don't pay the credit card, you know, 134 00:06:51,040 --> 00:06:53,840 Speaker 3: then you lose your credit rating. So we just need 135 00:06:54,080 --> 00:06:57,120 Speaker 3: need to be more disciplined, uh, in terms of you know, 136 00:06:57,360 --> 00:07:02,440 Speaker 3: not overspending. But I don't think look taking away credit card. 137 00:07:02,480 --> 00:07:04,920 Speaker 3: Look it used to be when I grew up, only 138 00:07:05,080 --> 00:07:07,480 Speaker 3: in the less half of the population even had access 139 00:07:07,520 --> 00:07:10,200 Speaker 3: to credit cards. Now almost everybody has a credit card, 140 00:07:10,560 --> 00:07:13,320 Speaker 3: and that's a good thing. It means we've democratized credit 141 00:07:13,800 --> 00:07:15,880 Speaker 3: and innocently. Have you noticed this. I don't know if 142 00:07:15,920 --> 00:07:18,200 Speaker 3: it's true in New York City, but a lot of 143 00:07:18,280 --> 00:07:22,960 Speaker 3: stores where I live, they say, we don't take cash anymore. Well, 144 00:07:23,080 --> 00:07:24,680 Speaker 3: if they don't take cash and you can't get a 145 00:07:24,680 --> 00:07:26,200 Speaker 3: credit card, are you going to pay for anything? 146 00:07:27,240 --> 00:07:29,200 Speaker 2: But in five years, I don't think we'll have any 147 00:07:29,240 --> 00:07:30,760 Speaker 2: cash anywhere. Everything will be I. 148 00:07:30,760 --> 00:07:32,920 Speaker 3: Don't think so either. So that you know, well, how 149 00:07:32,960 --> 00:07:34,880 Speaker 3: are people going to you know, people are going to 150 00:07:35,000 --> 00:07:39,280 Speaker 3: use electronic transfers, and so we want everybody to have 151 00:07:39,320 --> 00:07:42,280 Speaker 3: access to credit. And but look, I agree with you. 152 00:07:42,320 --> 00:07:44,559 Speaker 3: I think though some of those interest rates are really high. 153 00:07:44,880 --> 00:07:45,520 Speaker 1: But I don't think. 154 00:07:45,600 --> 00:07:47,320 Speaker 3: I don't like the government setting price. 155 00:07:47,120 --> 00:07:50,320 Speaker 2: Controls Yeah, if we're not going to have any cash anymore. 156 00:07:50,680 --> 00:07:52,960 Speaker 2: Is that the reason we really have to have crypto? 157 00:07:53,040 --> 00:07:55,920 Speaker 2: For people that want to avoid taxes and all that 158 00:07:55,960 --> 00:07:58,840 Speaker 2: stuff and criminal activity, that's why they need crypto. 159 00:08:00,480 --> 00:08:03,360 Speaker 3: Well, I'm not an expert on cryptos. I'm very happy 160 00:08:03,440 --> 00:08:05,760 Speaker 3: we have them. And are you an investor in cryptos? 161 00:08:05,880 --> 00:08:06,560 Speaker 1: No? 162 00:08:06,560 --> 00:08:09,800 Speaker 3: No, no, I'm not either, but I'm happy that we 163 00:08:09,880 --> 00:08:12,360 Speaker 3: have them because, you know what, we've got a lot 164 00:08:12,400 --> 00:08:14,400 Speaker 3: of you know, we've got Jerome Paul up the FED 165 00:08:14,440 --> 00:08:16,280 Speaker 3: who doesn't know what he's doing. And you know what 166 00:08:16,320 --> 00:08:18,239 Speaker 3: does the government always do when we get in trouble 167 00:08:18,280 --> 00:08:21,120 Speaker 3: They inflate the currency. So this is a fact that 168 00:08:21,160 --> 00:08:23,960 Speaker 3: people can buy a private currency. I think it's going 169 00:08:24,000 --> 00:08:25,800 Speaker 3: to keep these central bankers honest. 170 00:08:26,840 --> 00:08:29,000 Speaker 1: Hey, we just petition is a good thing. 171 00:08:29,120 --> 00:08:31,840 Speaker 2: Yeah, we only got a few seconds. Jerome Paul, when 172 00:08:31,880 --> 00:08:34,120 Speaker 2: he is done is the FED chairman? Will he leave 173 00:08:34,240 --> 00:08:36,600 Speaker 2: or will he stay on the board and annoy everybody? 174 00:08:36,920 --> 00:08:39,040 Speaker 3: Does it matter? I just want him out of the 175 00:08:39,120 --> 00:08:41,640 Speaker 3: chairmanship as soon as possible. I'm with Trump. I think 176 00:08:41,640 --> 00:08:44,320 Speaker 3: he's been a total disaster at the FED. Uh and 177 00:08:44,360 --> 00:08:46,959 Speaker 3: he hates Trump and a lot of this. He's also 178 00:08:46,960 --> 00:08:50,280 Speaker 3: the most political fed chairman we've ever had. I cannot wait. 179 00:08:50,320 --> 00:08:51,600 Speaker 3: But my advice to Trump just. 180 00:08:51,600 --> 00:08:52,120 Speaker 1: Wait him out. 181 00:08:52,160 --> 00:08:53,840 Speaker 3: He'll be gone in four months and we'll he'll be 182 00:08:54,679 --> 00:08:56,080 Speaker 3: He'll be gone and forgotten. 183 00:08:56,120 --> 00:08:58,000 Speaker 2: Well, unlike you, I want him out of the building, 184 00:08:58,040 --> 00:09:00,360 Speaker 2: not on the board, not a vote. I want him gone, 185 00:09:01,120 --> 00:09:04,720 Speaker 2: leave Washington anyway. Steve Moore, great stuff. Everybody sign up 186 00:09:04,720 --> 00:09:07,720 Speaker 2: for his daily briefing is the best there is. It's free. 187 00:09:07,720 --> 00:09:09,920 Speaker 2: It'll come write to your email. Just go to Unleash 188 00:09:10,040 --> 00:09:14,800 Speaker 2: prosperity dot com. Unleash prosperity dot com. Steve Moore, thanks 189 00:09:14,800 --> 00:09:15,920 Speaker 2: for being with us. 190 00:09:16,480 --> 00:09:17,840 Speaker 3: Thanks Miro to have a great weekend. 191 00:09:17,840 --> 00:09:20,640 Speaker 2: Take care all right, take care hey, don't forget Buck 192 00:09:20,679 --> 00:09:24,000 Speaker 2: and Clay Noon Today excellent show. Then at three o'clock, 193 00:09:24,080 --> 00:09:28,199 Speaker 2: the most listened to radio show in America Sean Hannity, 194 00:09:28,280 --> 00:09:31,719 Speaker 2: Jesse Kelly at six, and the best news show we've 195 00:09:31,720 --> 00:09:34,800 Speaker 2: got is Jimmy Fayla every night at nine. Funny, interesting. 196 00:09:35,120 --> 00:09:36,920 Speaker 2: In fact, he'll be with us in the next hour 197 00:09:37,280 --> 00:09:39,760 Speaker 2: right here on seven to ten. WR