Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: A single best idea, what an odd Monday? Always after
Speaker 2: a jobs report. It's an odd Monday after the huge
Speaker 2: flow of data that we get out of the labor
Speaker 2: economy on a given Friday, but this one more so
Speaker 2: with the President planning a trip to China on Wednesday,
Speaker 2: but just great conversations. It was sort of this word
Speaker 2: a nudjie day, is how I'd put it. But around
Speaker 2: that there were some really really smart conversations, many thanks
Speaker 2: to Dan Ives from London. He had to work to
Speaker 2: get on the zoom and all that stuff, but dan
Speaker 2: Ives was really wonderful as he lifts his estimate on
Speaker 2: Apple computer Tally Laziere with us as well. He has
Speaker 2: been dead on about this bullmarket juggernaut and Lawrence McDonald.
Speaker 2: Before Tally was some real caution about the nation's debt
Speaker 2: and deficit and how it could tie into inflation. We
Speaker 2: started strong with the way Lee of Black Rock. I
Speaker 2: talked to her about free cash flow. Here's way Lee
Speaker 2: on the path forward.
Speaker 1: When it comes to valuing risk assets, it's a discounting
Speaker 1: future cash flow. So even though R is going higher,
Speaker 1: if G is going faster, and higher. Still, we can
Speaker 1: still have a rosy market, which is what we have
Speaker 1: had so far.
Speaker 2: Our minus G. We didn't stop the show to do it.
Speaker 2: I'll do a little bit here on it. Thomas Piketty,
Speaker 2: the French questioner of Western Growth, is very big on
Speaker 2: the concept of our minus g, the real rate minus
Speaker 2: some form of growth rate. One of the most articulate
Speaker 2: people I've seen on it was a laureate. Joe Stiglitz
Speaker 2: has been very good on it. But that's a core concept.
Speaker 2: You can look it up on your chosen AI as well.
Speaker 2: Leslie Benja Murray with us from Chathamhouse and now at
Speaker 2: the Chicago Council. Actor vin Ja Murray. He just did
Speaker 2: a blurb for Valley Nassar's spectacular book on Iran. You'll
Speaker 2: be hearing me on Nassar's book over the coming weeks
Speaker 2: and months. It truly is a required read on Iran.
Speaker 2: Here is Leslie vin Ja Murray on the war.
Speaker 3: You've got a country that's thinking very strategically about its future,
Speaker 3: and I think this is you know, if you if
Speaker 3: you look at Valley Nasar's analysis of the of the
Speaker 3: current conflict, you know it's very clear Iran's got its
Speaker 3: eyes on the prize, It's in a winning position, It's
Speaker 3: used its leverage very effectively. What we thought was very
Speaker 3: asymmetric has turned to less asymmetric than you might think.
Speaker 3: And we're seeing that, you know, as those as President
Speaker 3: Trump sort of throws up his hands and says the
Speaker 3: deal's not good enough or he doesn't like what they
Speaker 3: what they wish to have. Iran looking unfortunately quite powerful,
Speaker 3: and the US, as President Trump goes to China, look
Speaker 3: not very strong.
Speaker 2: Well, I'm much more on the news flow of the
Speaker 2: war here, I'm sure as we go to the trip
Speaker 2: to China, leslie Vinjiburi there from the Chicago Council. On podcasts,
Speaker 2: we're out at Apple and Spotify, a YouTube podcasts at
Speaker 2: Single Best Idea