1
00:00:02,520 --> 00:00:13,520
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, A single bust idea

2
00:00:13,600 --> 00:00:16,320
Speaker 1: write to it today on Venezuela and Greenland. I said

3
00:00:16,320 --> 00:00:19,360
Speaker 1: to Paul Sweeney, I think I learned more about Greenland

4
00:00:20,320 --> 00:00:24,000
Speaker 1: Monday in twenty four hours than in my entire life.

5
00:00:24,040 --> 00:00:25,720
Speaker 1: I really, you know, study up on it so I

6
00:00:25,720 --> 00:00:30,000
Speaker 1: could ask Tina Fordham smart questions and all that. But

7
00:00:30,040 --> 00:00:33,120
Speaker 1: there it is, Greenland and Venezuela. We extended the conversation

8
00:00:33,240 --> 00:00:35,839
Speaker 1: today with Wendy Schiller. Let me give you some background

9
00:00:35,880 --> 00:00:39,200
Speaker 1: besides her new book out on inequality State to State,

10
00:00:39,240 --> 00:00:42,280
Speaker 1: which is getting a It's a very academic book. They're

11
00:00:42,320 --> 00:00:44,280
Speaker 1: not going to do a Landman series out of it,

12
00:00:44,360 --> 00:00:48,640
Speaker 1: but it's a very academic book. And Professor Schiller is

13
00:00:48,640 --> 00:00:55,279
Speaker 1: acclaimed years ago for writing a basic Civics book like

14
00:00:55,360 --> 00:00:58,000
Speaker 1: it was a big deal back then. It was just

15
00:00:58,080 --> 00:01:01,560
Speaker 1: like Civics one on one for people who missed Civics

16
00:01:02,080 --> 00:01:05,480
Speaker 1: one oh one. And Wendy Schiller Brown claimed for that effort.

17
00:01:05,560 --> 00:01:09,880
Speaker 1: In that book is the Louisiana Purchase of eighteen oh

18
00:01:09,920 --> 00:01:13,480
Speaker 1: three Schiller on Greenland and Louisiana.

19
00:01:13,920 --> 00:01:16,000
Speaker 2: It is the Louisiana Purchase, and we're going to buy

20
00:01:16,280 --> 00:01:18,960
Speaker 2: a major territory. Now, you know a lot of people

21
00:01:19,000 --> 00:01:21,640
Speaker 2: don't know the scope of Louisiana purchase, how much land

22
00:01:21,680 --> 00:01:23,760
Speaker 2: that was, and why it was so important, you know,

23
00:01:23,880 --> 00:01:26,520
Speaker 2: to go west and sort of opening that entire gateway

24
00:01:27,280 --> 00:01:31,839
Speaker 2: and really solidifying I think, US expansion. So it's really

25
00:01:31,840 --> 00:01:34,440
Speaker 2: going to have to be a justification when again people

26
00:01:34,480 --> 00:01:37,920
Speaker 2: are worried about things at home, the president seems to

27
00:01:37,959 --> 00:01:40,920
Speaker 2: be focusing, with some exceptions, on matters abroad.

28
00:01:41,440 --> 00:01:44,280
Speaker 1: Wendy Schilder later on GUNA. Mccunda was with US of

29
00:01:44,360 --> 00:01:47,480
Speaker 1: Yale and Tough School, of the Fletcher School. I should

30
00:01:47,520 --> 00:01:50,680
Speaker 1: say at Tough, so Professor mccunda said the same thing

31
00:01:51,280 --> 00:01:55,120
Speaker 1: is it on Scaroid? Just what all presidents do? They

32
00:01:55,160 --> 00:01:59,520
Speaker 1: shift from the domestic angst over to foreign analysis policy

33
00:01:59,760 --> 00:02:02,680
Speaker 1: and maybe some inks there as well, and President Trump

34
00:02:02,760 --> 00:02:06,240
Speaker 1: is doing that right now. We start a strong today

35
00:02:06,240 --> 00:02:09,600
Speaker 1: with Jordan Rochester with Miszuo, and he went to something

36
00:02:09,639 --> 00:02:11,280
Speaker 1: that I think is really interesting, which is all the

37
00:02:11,320 --> 00:02:14,840
Speaker 1: outlooks come out and everybody reads them all. Samurai leads

38
00:02:14,960 --> 00:02:18,400
Speaker 1: on this better than anyone. Read the Outlook six pages,

39
00:02:18,440 --> 00:02:21,440
Speaker 1: ten pages. Dare I say an eighteen page outlook? I

40
00:02:21,520 --> 00:02:24,440
Speaker 1: hate you? We read them all, there's a zeitgeist, and

41
00:02:24,480 --> 00:02:27,600
Speaker 1: it all falls apart in the vicinity of mid January.

42
00:02:27,800 --> 00:02:30,880
Speaker 1: Jordan Rochester and the angst of January.

43
00:02:31,160 --> 00:02:34,280
Speaker 3: The hardest part of January every single year is we

44
00:02:34,360 --> 00:02:37,240
Speaker 3: tend to have those consensus trades that everybody read about

45
00:02:37,280 --> 00:02:41,120
Speaker 3: in those outlooks, ye start to unravel. It's quite famous, really,

46
00:02:41,360 --> 00:02:44,400
Speaker 3: So typically have a few banks that do ten top

47
00:02:44,480 --> 00:02:47,000
Speaker 3: trades and six out of ten maybe even higher, and

48
00:02:47,080 --> 00:02:50,640
Speaker 3: fall apart in the first two weeks. So far, that

49
00:02:50,680 --> 00:02:54,160
Speaker 3: hasn't been the case because volatierty has been relatively low.

50
00:02:54,280 --> 00:02:57,800
Speaker 3: If you look at volt typically in January, youurro dollar

51
00:02:57,880 --> 00:03:01,560
Speaker 3: volatility for example, falls in January around eight percent of

52
00:03:01,600 --> 00:03:03,720
Speaker 3: the time going over the past twenty years, So it

53
00:03:03,800 --> 00:03:05,120
Speaker 3: might be just a quiet January.

54
00:03:05,520 --> 00:03:10,160
Speaker 1: Join in Rochester of MISSOUO Jobs Day Tomorrow and podcasts

55
00:03:10,200 --> 00:03:15,000
Speaker 1: on Apple, on Spotify, on YouTube podcasts. It's single best

56
00:03:15,160 --> 00:03:25,079
Speaker 1: idea