Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The single best idea
Speaker 1: to be quick here as we have huge newsflow in
Speaker 1: including the war of Israel and Iran. Robert Harmatz with
Speaker 1: US Today, Ambassador Harmatz with his public service in the
Speaker 1: State Department under Hillary Clinton. Robert Hormatz on the diplomacy
Speaker 1: of Iran, the history of Iran back to the Shah,
Speaker 1: and the distinction he made was they really don't want
Speaker 1: to take advice from.
Speaker 2: The West at the moment. The Iranian people are, but
Speaker 2: they do not want foreigners to be the ones to
Speaker 2: do it. There's a history in Iran of foreigners intervening
Speaker 2: with respect to say to most of that they still
Speaker 2: remember that the United States was involved in the overthrow
Speaker 2: of Mosedek and bringing back the Shaw, the new Shaw
Speaker 2: or the old Shaw now and they do not like
Speaker 2: the idea of foreign interventions. So they are very proud people.
Speaker 2: As you pointed out, there an old three thousand plus
Speaker 2: year old empire and regime change induced by.
Speaker 1: We have no template here.
Speaker 2: We do you have no temp We have no template,
Speaker 2: We have no ability to change the regime and the
Speaker 2: resin and the Uranians would resist that if his real
Speaker 2: did it or the United States did it. They don't
Speaker 2: want foreigners to intervene. If they do it themselves, it's
Speaker 2: a very different metic. If we do it, it's a
Speaker 2: very different matter, and a negative one.
Speaker 1: Robert Harmer's there before, Lisa Bramwoods and Dannyberger's conversation with
Speaker 1: the son of the former Shaw joining us today in studio.
Speaker 1: Wonderful to see Meredith Whitney. She's back out and far
Speaker 1: more visible than in recent years. The Meredith Whitney and
Speaker 1: the images of the debate, the back and forth is
Speaker 1: grounded in must read research reports. She did an absolute
Speaker 1: tuurtive force on the retirement health crisis of older Americans.
Speaker 1: Meredith Whitney on the boomers.
Speaker 3: Well as You and many other shows and written talk
Speaker 3: about they talk about the boomers being so wealthy, and
Speaker 3: that's just not true in terms of there's a segment
Speaker 3: of the boomers that's incredibly wealthy, but only one in
Speaker 3: ten boomers seniors can afford assisted living okay, so, and
Speaker 3: they're taking on debt at a more rapid rate than
Speaker 3: any other age cohort. So seniors own twenty five percent
Speaker 3: of total consumer debt outstanding. That's that's counterintuitive. Because you
Speaker 3: think as you get older, you get more conservative, you
Speaker 3: have less debt. So twenty five percent compares to twelve
Speaker 3: percent in two thousand. So it's if the economy was
Speaker 3: so great, why would why would seniors be taking on debt.
Speaker 3: One thing that seniors have is they're sitting on a
Speaker 3: tremendous amount of equity and they're starting to tap into that.
Speaker 3: So seniors have at least fourteen trillion of tappable equity
Speaker 3: that they can access that could make them be able
Speaker 3: to stay in their homes longer, agent plays, maybe get
Speaker 3: private home care, home healthcare, and they're doing it. So
Speaker 3: forty four percent of home equity outstanding is held by seniors.
Speaker 1: Meredith Whitney offer brilliant written, researched, great chart on mortgage
Speaker 1: holdings of America where we're literlely back to the eighties
Speaker 1: and how conservative we are in paying off our housing.
Speaker 1: Just a superb effort there. She had some single best
Speaker 1: idea stocks as a rocket mortgage came up a couple times,
Speaker 1: but to be honest, I don't know if that's a buy,
Speaker 1: a hold or a sell. We're on on YouTube. I
Speaker 1: can't say enough about the building of Bloomberg podcast. Its
Speaker 1: way out front of anything I thought, what ever happen?
Speaker 1: This podcast on Apple, on Spotify and a YouTube podcasts.
Speaker 1: This is single first idea