Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea. It is not a slow Friday. There's
Speaker 2: no other way to put it. We're supposed to slide
Speaker 2: into the late August and get through and be sure
Speaker 2: the kids get the summer reading done and launch off
Speaker 2: of Labor Day into whatever not. This August it is exceptional.
Speaker 2: Thank you to Anne Marie Horden for coverage. In the
Speaker 2: very early morning of Anchorage, Alaska, we saw the President
Speaker 2: leave Washington on Air Force one, a report of mister
Speaker 2: Putin in Siberia over by very eastern Russia and Magadan.
Speaker 2: I hope I'm pronouncing that correctly. We tried to stay
Speaker 2: to economics, finance, investment as well. Peter Sheer looking at
Speaker 2: the great separation between study of the labor economy and
Speaker 2: study of interest rates, sure of academy securities.
Speaker 3: Part of the reason I'm slightly nervous, more maybe nervous
Speaker 3: than most guests about the economy is I'm worried about
Speaker 3: the job situation. I'm particularly worried about, you know, the
Speaker 3: recent college graduate situation. Right, the unemployment rate seems to
Speaker 3: be fairly high. They're not getting jobs. I look at
Speaker 3: law school applications they're skyrocketing. That to me is another
Speaker 3: sign that jobs are very tough, especially for the college graduates.
Speaker 3: And those are the people I think who currently are
Speaker 3: being displaced by AI.
Speaker 1: Right.
Speaker 3: That's people are comfortable kind of giving those sorts of
Speaker 3: assignments to AI, and you know, they're not going to
Speaker 3: let big decisions being made, but they're letting some of
Speaker 3: that work be done. And I'm not sure what that
Speaker 3: does for that job market opportunity. I'm not sure what
Speaker 3: that does for a future where those people supposed to
Speaker 3: get those jobs that lead them into management and things
Speaker 3: like that over time. So some of this I think
Speaker 3: we're getting close probably you know, six months a year away.
Speaker 3: There's going to be a little bit of pushback on
Speaker 3: AI the deployment, and you know, you keep looking at
Speaker 3: the cost of electricity rising, that's going to be an issue.
Speaker 2: Peter Shure. They're on artificial intelligence, the overlay of technology
Speaker 2: on this economy, and of course that will be a
Speaker 2: theme of Jackson Hole here in a matter of days.
Speaker 2: A major thank you to Ed Ludlow of Bloomberg Technology
Speaker 2: for joining us on very short notice on Google Chrome,
Speaker 2: on perplexity, on Sam Altman just it's an area I'm
Speaker 2: not up to speed on and to get ed. Ludlow's
Speaker 2: expertise is valuable with the Bank of Montreal BEMO Capital Markets.
Speaker 2: Jennifer Lee here on the economy.
Speaker 1: Forward, I was very torn.
Speaker 4: I was like, do I want a strong number to signify,
Speaker 4: you know, that the US economy remains resilient, or do
Speaker 4: I want a weak number because it shows that that
Speaker 4: that is going to have to start cutting rates starting
Speaker 4: next month and by how much it's always torn. But
Speaker 4: you know, I'm kind of lying. I kind of lean toward,
Speaker 4: you know, I want a stronger economy, more resilient economy,
Speaker 4: And the retail sales numbers approved that it wasn't wall
Speaker 4: to wall strength. We saw some pullback and play things
Speaker 4: like eating out, dining out, for example, which is something
Speaker 4: I like to keep an eye on all the time.
Speaker 4: But there's more spending on things like sporting goods and
Speaker 4: on clothing and things like that. So cannot right off
Speaker 4: the US can seer jest yet you know it's we
Speaker 4: should almost never write right off the US consumer. But
Speaker 4: it shows that the US economy is still holding up there.
Speaker 4: The backward revisions, by the way, show that there's a
Speaker 4: lot more momentum coming in into the second half. But
Speaker 4: what happens at this point on with signs of higher
Speaker 4: inflation bubbling, You know, this is where everything hits the fan.
Speaker 2: Jennifer Lee be most capital market, It's a most eventful week.
Speaker 2: Will stagger into next week, of course, continuing to look
Speaker 2: at the technology overlay on economics, finance, investment, and international
Speaker 2: relations on your podcast on Apple, on Spotify, at YouTube podcasts.
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