WEBVTT - Single Best Idea with Tom Keene: Joe Mysak & David Gura

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Single best idea and this is honor of Joseph Mysik.

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<v Speaker 2>There are journalists and then there are real journalists. Many

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<v Speaker 2>people think I'm a journalist. Well, you know what, folks,

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<v Speaker 2>there are real journalists, people like the late Mark Pittman

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<v Speaker 2>Fred Weigold at Bloomberg. And one of them clearly in

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<v Speaker 2>that category is Joe Mice. It is forty years plus

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<v Speaker 2>of grinding work in the bondmarket. He was iconic at Bonbeyer.

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<v Speaker 2>Matt Winkler, a bond guy at heart, the founder of

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<v Speaker 2>Bloomberg News, called up the bond guy at Bonbeyer and said,

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<v Speaker 2>come on over. He's health court at Bloomberg for a

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<v Speaker 2>long line time. Joe Isaac retires. He's working on a

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<v Speaker 2>wonderful and I should say important project with Tom Wolf,

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<v Speaker 2>the late Tom Wolf. And you'll see something on that

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<v Speaker 2>in a couple of years here. But Joe Meiak retiring today.

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<v Speaker 2>And we took a very careful view of New York City,

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<v Speaker 2>the New York City of nineteen seventy five. Drop dead

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<v Speaker 2>in the New York City. Now the governor said, no

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<v Speaker 2>congestion tax is its civil crisis. Let's listen.

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<v Speaker 3>You know, this is just a very short term spasm,

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<v Speaker 3>if you will, a political spasm. I think that congestion

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<v Speaker 3>pricing has been sort of the argument for it has

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<v Speaker 3>been proven. Anyone who goes out in the New York

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<v Speaker 3>City streets and highways now can see that. So I'm

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<v Speaker 3>not overly concerned. It's funny people want to think right

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<v Speaker 3>now that there's an immediate impact on the subway system,

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<v Speaker 3>but in fact, no on Thursdays, Thursdays and Fridays, subways

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<v Speaker 3>or a pleasant ride in.

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<v Speaker 2>Joe Isaac encyclopedic on all the different things. California going

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<v Speaker 2>under Joe Mysik said no, Illinois going under. Joe my

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<v Speaker 2>six said no. I remember Denver Airport the luggage didn't

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<v Speaker 2>work or something. Joe Isaac said no. And those are

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<v Speaker 2>the kind of crises that are out there. Here's Joe

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<v Speaker 2>Mysik on the state of play in Manhattan.

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<v Speaker 3>Oh. Absolutely, after the financial crisis. There's so many safeguards

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<v Speaker 3>put in place for investors, and there's so many you know,

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<v Speaker 3>you could have the state and the various oversight boards

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<v Speaker 3>a snap into action. Right now. It's not needed because

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<v Speaker 3>New York City makes so much money. But I wanted

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<v Speaker 3>to bring up a phrase silly as eggs. I only

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<v Speaker 3>caught that little bit of it, but I think I'm

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<v Speaker 3>going to adopt it from now on.

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<v Speaker 2>Oh, we talked about eggs today. We bring us up.

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<v Speaker 2>This is important and I'll digress here off of the

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<v Speaker 2>great work of Joe my Sick. There is inflation. There

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<v Speaker 2>is disinflation, which is a lesser inflation. There is deflation,

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<v Speaker 2>which is price decline. And Gary Schilling, the giant on deflation,

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<v Speaker 2>would say there are two types of deflation, good and

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<v Speaker 2>bad deflation. There's a thing that's sort of cosmic and

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<v Speaker 2>theoretical called reflation, where you reflate an economy. That's what

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<v Speaker 2>Japan is doing right now. Some say failing, some say

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<v Speaker 2>maybe succeeding. Daryl Meyer of the HSBC was just brilliant

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<v Speaker 2>on the reflation optimism of Japan. While they intervene, he

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<v Speaker 2>thinks Friday, they won't even get the Sunday. And he's

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<v Speaker 2>pretty constructive on intervention as well. But the idea here

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<v Speaker 2>of price change, and so we try to bring it

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<v Speaker 2>down to the real world. And Lisa Matteo has been

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<v Speaker 2>absolutely brilliant on eggs is just a core commodity. What

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<v Speaker 2>do they cost from she's buying like five six dozen

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<v Speaker 2>and she's down under three dollars a dozen. I think,

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<v Speaker 2>I mean, it's amazing what she's doing. And then Dana

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<v Speaker 2>Peterson at conference Board is looking at nine dollars ninety

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<v Speaker 2>nine cents per dozen eggs, and we get a huge

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<v Speaker 2>response thank you out on YouTube on the live chat

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<v Speaker 2>for that response, and has even Joe Maiesk picked up

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<v Speaker 2>on it. Having a forty dollars I'm on at the

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<v Speaker 2>four Seasons Hotel in Atlanta. Is our David Gurra with

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<v Speaker 2>our debate coverage tonight, we spoke to mister Gurra.

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<v Speaker 1>They're talking to the same people and those are sort

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<v Speaker 1>of working class people. And like Pennsylvania is interesting too

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<v Speaker 1>because you've got, you know, this huge population of workers

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<v Speaker 1>stealing the still in the steel business, and you know

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<v Speaker 1>that's this is this is a group of people that

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<v Speaker 1>Joe Biden claims to come from and wants to embrace.

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<v Speaker 1>Donald Trump of course, has appealed to them as well

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<v Speaker 1>through his tariff's policy. So yeah, I think it's a

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<v Speaker 1>you can bring that up for kind of like a

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<v Speaker 1>random raise of course how the pirates are doing. But

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<v Speaker 1>I think that it's actually a very important state because

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<v Speaker 1>it's a really going to be a really fought over

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<v Speaker 1>battleground state for these two candidates going forward, and you know,

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<v Speaker 1>we'll see how much these messages resonate. I think it

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<v Speaker 1>is a state in which there probably aren't as many

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<v Speaker 1>swing voters as you would have in others.

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<v Speaker 2>I think President Biden's got to go to Pennsylvania tonight

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<v Speaker 2>with his Scranton heritage as well. We'll see what former

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<v Speaker 2>President Trump does as well. Well. Of all our coverage tonight,

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<v Speaker 2>if you're listening up to eight pm, Joe, Matthew, Kayley

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<v Speaker 2>Lines and mister Gura in Atlanta with our debate cover

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<v Speaker 2>different twisted analysis than what you're going to see on

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<v Speaker 2>so many other networks. We're on YouTube, search and subscribe

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<v Speaker 2>to Bloomberg Podcast. It's easy. Just type it in and

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<v Speaker 2>there it is. Click on it three hours as a

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<v Speaker 2>replay of the three hours as well. Android Auto Apple

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<v Speaker 2>car Play I hear big news Coopertino tells me that

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<v Speaker 2>there's going to be a whole new Apple car play

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<v Speaker 2>coming out. I guess you could talk to your talk

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<v Speaker 2>to your dashboard and you'll be able to get Carol

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<v Speaker 2>Masser and Tim Stevenovic there as well, from New York

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<v Speaker 2>City on Apple Podcasts six minutes as smart as a single,

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<v Speaker 2>best Idea