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Speaker 1: Brought to you by Bank of America. Merrill Lynch. Seeing

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Speaker 1: what others have seen, but uncovering what others may not.

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Speaker 1: Global Research that helps You Harness disruption voted top global

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Speaker 1: research from five years running. Mary Lynch, Pierce, Fenner and

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Speaker 1: Smith Incorporated. How would they feel about the idea that

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Speaker 1: they booted a descendant of aristocrats out of Downing Straight? Well,

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Speaker 1: I think my my mammal, who I write about, is

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Speaker 1: sort of the hero of the book. She'd probably feel

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Speaker 1: pretty proud of herself. Hi, and welcome back to Bloomberg Benchmark,

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Speaker 1: a show about the global economy. I'm Daniel Moss, executive

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Speaker 1: editor for Global Economics in New York. It's Thursday, October six.

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Speaker 1: I'm joined by my co host, Scott Lanman, an economics

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Speaker 1: editor in Washington. Hey, Dan, So, today we're going to

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Speaker 1: hear about how an impoverished, relatively uneducated group of people

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Speaker 1: in a part of the US often regarded as a

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Speaker 1: backwater has actually cheaking up the political and economic order

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Speaker 1: around the world, and how their lack of power has

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Speaker 1: ironically increased their cloud. That's right, a steadily diminishing chunk

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Speaker 1: of the American economy has sent shock waves far beyond

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Speaker 1: these shores, the kind of phenomenon that booted Brittain out

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Speaker 1: of the EU, David Cameron out of Downing Street, and

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Speaker 1: perhaps set the French far right on a course to

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Speaker 1: the Alisa Palace. So what gives what connects these threads? JD.

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Speaker 1: Vance and his new book Hillbilly Elegy, a story about

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Speaker 1: his journey and his family's journey from Kentucky to Ohio,

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Speaker 1: to the Marines, to Iraq and now to the world

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Speaker 1: of venture capital in San Francisco. So JD welcomed the show,

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Speaker 1: Guy Arios, congratulations on the book and the remarkable story

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Speaker 1: that you've kind of described as an escape. It's a

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Speaker 1: very timely book. Much of the commentary about it has

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Speaker 1: he never to be focused on the presidential rice. I

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Speaker 1: suspect there's a lot more going on than just whether

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Speaker 1: Trump or Clinton. Thanks the Oath on January twenty. But

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Speaker 1: let's stop that. Why do you think your book has

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Speaker 1: captured this sense of the moment. Sure, this is a

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Speaker 1: group of people who are relatively neglected by the media,

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Speaker 1: and consequently, not a whole lot of folks really understand

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Speaker 1: who they are, where they come from, what they think about.

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Speaker 1: And so I really I think through the book and

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Speaker 1: through the story of my family's history, sort of shed

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Speaker 1: a light on this population that is relatively neglected and

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Speaker 1: that folks are very curious about because of and this

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Speaker 1: is the second reason, because of Donald Trump. This is

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Speaker 1: an area of the country, a part of the population

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Speaker 1: that is heavily supportive of Donald Trump. And so it's

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Speaker 1: causing a lot of people to ask why who are

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Speaker 1: these people? Why are they so supportive of Donald Trump.

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Speaker 1: Of course I don't talk about Trump at all in

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Speaker 1: the book, but because I do talk a little bit

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Speaker 1: about the political frustrations and some of the underlying cultural

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Speaker 1: frustrations that exist, I think that people have sort of

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Speaker 1: grabbed onto my book as an explanation or a partial

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Speaker 1: explanation for the Trump phenomenon. Now, you didn't really set

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Speaker 1: out to write that kind of story to weave what's

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Speaker 1: really a morality tale of the contest? Was that more

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Speaker 1: of an accident? But first, just to go back, I mean,

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Speaker 1: what really made you put the pen to paper or

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Speaker 1: fingers on the keyboard to start writing this book? So

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Speaker 1: it was definitely an accident, non intentional at all. And

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Speaker 1: what caused me to put pen to paper is that

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Speaker 1: when I was a third year law student at Yale.

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Speaker 1: One of the things that really troubled me is that

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Speaker 1: I felt like this cultural outsider. It occurred to me

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Speaker 1: that there weren't many other kids like me, meaning white

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Speaker 1: working class kids or black working class kids frankly, who

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Speaker 1: existed at Yale Law School. And so I really wanted

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Speaker 1: to sort of understand this this problem of upward mobility

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Speaker 1: in the United States, why we had so little of it,

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Speaker 1: Why perhaps the area that I came from could sort

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Speaker 1: of explain why there were so few kids like me

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Speaker 1: at places like Yale. And that's really what I set

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Speaker 1: out to do. I wanted to try to answer that question,

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Speaker 1: and that's why I started writing the book. Of course,

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Speaker 1: that Donald's Trump thing has been um has caused a

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Speaker 1: lot of attention and and positive press to go to

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Speaker 1: the book, which I'm appreciative in certain ways, But as

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Speaker 1: I as I told my wife, maybe it's it's a

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Speaker 1: bad for the country, but good for j D's books.

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Speaker 1: So I guess on balance, maybe not a good thing.

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Speaker 1: Has there been much interest in your book from across

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Speaker 1: the pond? You know, the first global primal roar of

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Speaker 1: the white working class was perceived to be the Brexit vote,

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Speaker 1: Brexit voters and the people you lovingly described essentially the

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Speaker 1: same kind of person. Is there some global connection here, Yeah,

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Speaker 1: there has definitely been some interest in the UK, and

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Speaker 1: we actually when we first started to try to sell

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Speaker 1: the book to overseas publishers, no one was really interested.

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Speaker 1: But since then we've actually gotten a UK publisher and

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Speaker 1: there's been a lot of interest in the UK from

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Speaker 1: the UK press, from UK media. So, and I definitely

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Speaker 1: think that comes from this, this sense that the same

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Speaker 1: population of voter is that caused Brexit are the same

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Speaker 1: population of voters that may very well cause a Trump presidency.

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Speaker 1: And so I do think that there's some connection. There

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Speaker 1: is definitely a large segment of the population of both

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Speaker 1: of these countries and other countries too, that feel a

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Speaker 1: little neglected and a little left behind by the world economy,

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Speaker 1: So there is some connection. I'm not an expert on Brexit,

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Speaker 1: so I won't draw the line to finally, but I

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Speaker 1: do think that there are some similarities in the group,

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Speaker 1: just from what I've read and what I've seen on

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Speaker 1: both in both countries. Now, you think some of the

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Speaker 1: characters in the book that again, just to be clear,

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Speaker 1: you lovingly and in some cases reverentially described it's a

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Speaker 1: very hot felt story. How would they feel about the

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Speaker 1: idea that they booted a descendant of aristocrats out of

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Speaker 1: Downing Straight. Well, I think my my mammal, who I

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Speaker 1: write about, is sort of the hero of the book.

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Speaker 1: I think that if you put it like that, she'd

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Speaker 1: probably feel pretty proud of herself. Yeah, you know, it's

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Speaker 1: it's a very there's a very strong, long undercurrent of

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Speaker 1: anti elitism that that exists in this population. And you know,

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Speaker 1: in some ways it goes back to Andrew Jackson and

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Speaker 1: sort of the populist movement in the early eighteen hundreds,

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Speaker 1: but I even think it predates that. I think it

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Speaker 1: goes back to sort of the ancestral history of some

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Speaker 1: of these places, and so there there's definitely an anti

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Speaker 1: rich and anti elitism cinnamon that runs through a lot

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Speaker 1: of my family, a lot of my culture, and so

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Speaker 1: I I do think maybe my grandma would feel pretty

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Speaker 1: happy to think that she had booted in aristocrat tin

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Speaker 1: Downing Street. Now, you talk a lot in your book

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Speaker 1: about how it's not necessarily these kind of global economic

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Speaker 1: forces that are buffeting the working class people in Ohio

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Speaker 1: and Kentucky. It's more their own choices that have added

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Speaker 1: up over time, the multiple partners, taking drugs, things like that.

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Speaker 1: You know, how much of the problems besetting you know,

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Speaker 1: white working class people today are you know, as you

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Speaker 1: would you say, their own fault and how much are

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Speaker 1: the global economy's fault? Sure? Well, it's very complicated, and

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Speaker 1: I would say it's both. One of the reasons I

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Speaker 1: focused on the more cultural side of the equation is

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Speaker 1: that I felt that there had just been a lot

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Speaker 1: written about globalization in the way that it affected the

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Speaker 1: working class, so I decided to focus on something else.

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Speaker 1: But I do think that there's this strong element of

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Speaker 1: culture that that's underlying a lot of these problems. And

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Speaker 1: I don't know that I would say that it's about

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Speaker 1: individual choices so much as it is about cultural expectations.

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Speaker 1: I mean, one of the things I write right about

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Speaker 1: is that when you grow up in an area like this,

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Speaker 1: you really acquire this sense of helplessness, this sense that

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Speaker 1: your choices don't matter, that no matter how hard you work,

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Speaker 1: how much you try to get ahead, nothing that you

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Speaker 1: ever do will actually produce good outcomes. And so that

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Speaker 1: that's not so much a failure of individual responsibility or

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Speaker 1: individual morals. But I think it it is a cultural

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Speaker 1: problem that isn't necessarily amenable to, you know, flipping the

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Speaker 1: government policy switch or reversing globalization and making that stuff

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Speaker 1: go away. Now that said, I do buy into, you know,

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Speaker 1: the sort of of consensus thesis that globalization has been

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Speaker 1: very hard on these areas of the country. So again,

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Speaker 1: it's not so much to me in either or equation.

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Speaker 1: It's more about everything is going on here, and I'm

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Speaker 1: trying to understand one side of that. That that equation.

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Speaker 1: I mean, you sketch a community, uh, and it's coming

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Speaker 1: across in your comments. Now that feels like it has

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Speaker 1: no steak in the modern globalized economy. But JD, let

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Speaker 1: me just push you gently there. Should they have a steak?

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Speaker 1: I mean, these don't sound like the people who would

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Speaker 1: vote for a socialist. You talk in your book about

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Speaker 1: reverence for the military and indeed the transformative experience that

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Speaker 1: the military had in your life. This is a deeply

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Speaker 1: patriotic group of people. But what could be more American

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Speaker 1: than capitalism? Isn't this just part of the capital cycle?

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Speaker 1: Industries rise and fall, regions rise, and fall. I mean,

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Speaker 1: does an American as apple pie, isn't it? Well? In

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Speaker 1: some cases, I don't disagree with you. There's definitely a

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Speaker 1: part of the economy that's cyclical in nature. Industries rise

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Speaker 1: and fall. The steel jobs aren't coming back, the coal

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Speaker 1: mines aren't necessarily coming back. And it's definitely important to

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Speaker 1: recognize that as both someone who's living on the ground

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Speaker 1: in these areas, but as a policymaker or a businessman,

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Speaker 1: it's it's important to recognize that you can't reverse these trends.

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Speaker 1: You can't just go back to the nineteen sixties and

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Speaker 1: hope that everything is going to be okay. But what

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Speaker 1: I do think is unique about this, you know, relative

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Speaker 1: to prior periods of economic disruption, is that there is

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Speaker 1: a unique cultural isolation that's going on. So if you

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Speaker 1: think of you know, Date and Ohio, it may just

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Speaker 1: be the case that a fifty five year old worker

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Speaker 1: in Date in Ohio who spent his entire life in manufacturing,

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Speaker 1: that he may not be able to find a good

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Speaker 1: paying job for the rest of his working life. I

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Speaker 1: think that we we maybe have to fess up to

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Speaker 1: that and admit to that. Again, both on the Washington

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Speaker 1: side of the equation, but also for people in my

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Speaker 1: own community. But what I do think is really unique

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Speaker 1: is that that guy in Date No. I will increasingly

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Speaker 1: live in a concentrated enclave of people who are like him,

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Speaker 1: folks who don't have a whole lot of opportunity. And importantly,

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Speaker 1: his kids will grow up and that's sort of secluded

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Speaker 1: enclave of folks who don't have a lot of hope

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Speaker 1: for the future, don't have a lot of optimism about

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Speaker 1: what's possible. And so what's what's unique about this particular

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Speaker 1: moment in history isn't the economic disruption, which is always

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Speaker 1: going to be there. It's that the folks who are

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Speaker 1: economically disrupted are living increasingly segregated lives from the world

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Speaker 1: elites and from folks with financial power. Let's take a

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Speaker 1: break right now to hear a word from our sponsor,

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Speaker 1: and then we'll come back to this idea brought to

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Speaker 1: you by Bank of America Merrill Lynch. Seeing what others

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Speaker 1: have seen, but uncovering what others may not. Global Research

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Speaker 1: that helps You Harness Disruption voted top global research from

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Speaker 1: five years running. Merrill Lynch, Pierce, Venner and Smith Incorporated

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Speaker 1: all right, Well, I want to continue j D with

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Speaker 1: that idea of cultural isolation. I mean that that brings

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Speaker 1: true to me personally. I grew up in suburbs of

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Speaker 1: New Jersey, relatively more stable family, probably that than you had,

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Speaker 1: but culturally distinct. Culturally distinct, but still you know, it

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Speaker 1: wasn't until I was able to live for a few

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Speaker 1: years in San Francisco myself that I felt that I

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Speaker 1: was more exposed to the world than before. So I

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Speaker 1: want to ask you, how do you expand this idea

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Speaker 1: of becoming culturally less isolated. You refer a little bit

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Speaker 1: in your book to the idea of spreading out section

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Speaker 1: eight vouchers some more so they don't take over a community.

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Speaker 1: Does mixed income housing or mixed income communities carry a

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Speaker 1: lot of weight and maybe and having some kind of

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Speaker 1: remedy for this issue, well that that would definitely be

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Speaker 1: part of the solution. But my my much broader sense

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Speaker 1: is that folks from the elites and folks from the

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Speaker 1: working class just don't spend enough time to each other.

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Speaker 1: So part of that is a neighborhood problem. We don't

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Speaker 1: have nearly as many mixed income neighborhoods as we used

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Speaker 1: to part of that is is a much more broad

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Speaker 1: geographic isolation. So it's increasingly the case that folks who

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Speaker 1: go off to college get an education work in you know,

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Speaker 1: relatively high education, high income occupations. They're living in certain cities,

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Speaker 1: they're living in certain parts of the world, and so

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Speaker 1: my my, my sense is that there there's something very

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Speaker 1: unique about this moment in time where the folks who

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Speaker 1: have political and economic power, who are perceived to have

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Speaker 1: political and economic power, are more and more segregated from

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Speaker 1: the working classes. And I don't think it's surprising that

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Speaker 1: that segregation is creating a certain resentment and frustration, if

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Speaker 1: for no other reason that it's very easy to caricature,

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Speaker 1: you know, the financial and political elites, if you don't

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Speaker 1: have any idea what they're actually doing all day, if

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Speaker 1: you're only real exposure to them is you know, on

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Speaker 1: the Internet or on television or from some talk radio host.

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Speaker 1: But they now have the power. I mean, if you

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Speaker 1: look at the narrative of this election campaign and the

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Speaker 1: narrative of Bregg sit on I days, I We'll hear

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Speaker 1: more about it in France next year. I mean, they

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Speaker 1: have the power now. It's shaped seemingly the entire contools

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Speaker 1: of the rights. Well, they have political power in this

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Speaker 1: particular race, but I don't know that they have sort

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Speaker 1: of long term engagement with their communities. And those are

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Speaker 1: distinct concepts to me. It's one thing to be able

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Speaker 1: to vote your frustration. It's another thing to not be

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Speaker 1: frustrated in the first place. And my suspicion is that, again,

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Speaker 1: as expected as this economic dislocation is, what is what

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Speaker 1: is really unique is this very broad sense of shared frustration,

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Speaker 1: this idea that there are two classes in America. There

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Speaker 1: are the elites and the people with the political power,

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Speaker 1: and there's everybody else, the folks who are condescended to

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Speaker 1: by the elites, the folks that the elites don't care about.

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Speaker 1: And I really think that that oaks, you know, like me,

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Speaker 1: and you, and and and everybody who's who's on the coast,

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Speaker 1: so to speak, that we have a certain responsibility to

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Speaker 1: make our fellow countrymen feel a little bit more engaged

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Speaker 1: with the world, a little bit more engaged with their

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Speaker 1: political and economic culture. Because if it's the case that

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Speaker 1: a guy in Daton, Ohio is not just disallocated from

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Speaker 1: the economy, but that his children and grandchildren have no

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Speaker 1: real opportunity to get an education and to integrate with

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Speaker 1: that new world economy. Then it's it's going to create

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Speaker 1: necessary frustrations and alienations. And I think that's what we're

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Speaker 1: really seeing. Let's dwell on that point about the world

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Speaker 1: economy a little bit, and it's not like the characters

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Speaker 1: in your book are completely unaware of things. I thought

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Speaker 1: that was a very interesting passage way you describe when uh,

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Speaker 1: the steel plant, the big employer took on a Japanese partner,

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Speaker 1: and I think it was your Paul Paul who said, well,

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Speaker 1: I'm not worried about the Japanese. I'm more worried about

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Speaker 1: the Chinese. Heck, we might end up fighting them one day. Sure,

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Speaker 1: How are they feeling about We've talked about elates in

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Speaker 1: the United States. How are they feeling about economic forces

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Speaker 1: or economic elates, or economic decisions that transcend the United States? Well,

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Speaker 1: I don't know how much they're thinking about economic forces

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Speaker 1: that transcend the United States. I mean, my sense is

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Speaker 1: that the perception is that the global economy is working

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Speaker 1: for a few select people in the United States, and

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Speaker 1: it's not working for most other people. And so I

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Speaker 1: actually read an article this morning by a Washington Post

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Speaker 1: reporter who went to my hometown, and it was interesting

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Speaker 1: that he interviewed some folks and they said something in

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Speaker 1: the effect of, they don't necessarily believe the recent positive

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Speaker 1: economic news that came out because they don't necessarily see

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Speaker 1: it in their own communities. And so to the degree

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Speaker 1: that they think about global economic trends, they probably perceive

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Speaker 1: that those trends are something that people in Washington or

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Speaker 1: New York have some control over, that those people living

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Speaker 1: in Washington and New York benefit from, and that they

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Speaker 1: don't really care how those trends impact people like my,

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Speaker 1: my papal or the folks who are still living in Middletown.

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Speaker 1: There there is a broad recognition that the global economy

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Speaker 1: is shifting in a really incredible way. But the perception

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Speaker 1: is that it's shifting in a way that benefits rich

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Speaker 1: people in rich countries and poor people in poor countries,

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Speaker 1: but that it doesn't benefit poor people in rich countries,

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Speaker 1: and that that that's a very real perception. I think

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Speaker 1: that that it's definitely rooted in some reality, and that

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Speaker 1: that again, I don't know that it's a super sophisticated perception,

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Speaker 1: but it does turn back towards those who they believe

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Speaker 1: are controlling those global currents and trends. Now, we we

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Speaker 1: can talk about these global economic forces and their effects

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Speaker 1: on on these communities for for a long time. But

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Speaker 1: to go back to another topic that really pervades your

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Speaker 1: book is the the drug use among members of your

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Speaker 1: family people in the communities that, as we know from

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Speaker 1: many many news reports and and statistics today is on

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Speaker 1: fortunately killing many many people. And I was struck that

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Speaker 1: you didn't really suggest that attacking the drug problem more

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Speaker 1: fiercely would be a you know, I would really help

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Speaker 1: the people in these places. Do you feel that more

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Speaker 1: resources need to be directed towards getting this problem at

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Speaker 1: its core, to take the drugs that are that are

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Speaker 1: the source of addiction for so many people out and

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Speaker 1: at least helping people get back on their feet or

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Speaker 1: avoid that kind of scourge. Yeah, so, so I definitely do.

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Speaker 1: And I think I should say that the book is

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Speaker 1: relatively light on policy prescriptions, partially because I felt like

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Speaker 1: it was already long enough, and partially just because I

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Speaker 1: didn't want to artificially start laying down a number of

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Speaker 1: policy prescriptions that I hadn't necessarily thought that well through.

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Speaker 1: But my sense is that the drug problem is one

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Speaker 1: of the most significant social problems in these parts of

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Speaker 1: the country, and that we should definitely devote more resources

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Speaker 1: to trying to solve the I mean, there there are

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Speaker 1: a lot of things that we could do, and and

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Speaker 1: you know, one of the things that we should probably

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Speaker 1: be thinking about is trying to change the cultural perception

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Speaker 1: around some of these prescriptions that make it more difficult

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Speaker 1: for folks to overdose or to even have a craving

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Speaker 1: for in arcotics in the first place. And so you know,

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Speaker 1: things like methodone. There's a real intense cultural stigma around

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Speaker 1: folks who are using pharmaceuticals to try to combat their

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Speaker 1: drug problem. But again, I'm sort of in all of

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Speaker 1: the above type person. I think we have to fight

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Speaker 1: this on all fronts, and we really need to devote

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Speaker 1: a lot of resources and a lot of focus to

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Speaker 1: this area and this problem, because it is something that's

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Speaker 1: it's ripping families apart, it's having disastrous economic consequences, and

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Speaker 1: it's of course causing human life in a pretty outrageous way.

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Speaker 1: There's a statistic that I just find so outrageous, and

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Speaker 1: I learned after I wrote the book that in the

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Speaker 1: county that I grew up in, last year, deaths from

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Speaker 1: drug overdoses outnumbered deaths from natural causes. That's just an

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Speaker 1: extraordinarily bad j D. Again, I just want to come

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Speaker 1: back to you know, these global trends and the people

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Speaker 1: you describe in the book and their perceptions of their

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Speaker 1: place in the world. Now you know there are steel

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Speaker 1: rust belts in China as well. I visited one GM

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Speaker 1: gets a very large chunk of its revenue from China.

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Speaker 1: One of the biggest banks in Mexico is owned by

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Speaker 1: city group Banner Max. Is there any sense that this

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Speaker 1: flows both ways or is this just like a conversation

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Speaker 1: on another planet. Yeah, I have never heard much of

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Speaker 1: a recognition that there are rust belts in China. I

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Speaker 1: do know that there's a recognition that there are a

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Speaker 1: lot of Chinese workers who are probably mistreated, who don't

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Speaker 1: enjoy the same labor protections as folks in the United States.

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Speaker 1: And so what you'll hear a lot of times is

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Speaker 1: that people recognize that a lot of these jobs are

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Speaker 1: going to overseas, and the perception is that part of

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Speaker 1: the reason they're going overseas is that you don't have

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Speaker 1: to pay these workers as well, and you don't have

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Speaker 1: to treat these workers as well. So I don't know

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Speaker 1: that creates a ton of of sort of affinity or

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Speaker 1: bond between a steel mill worker in Ohio and a

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Speaker 1: steel mill worker in in China, But I do think

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Speaker 1: it feeds into this idea that there's this amorphous, faceless

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Speaker 1: set of elites who are sort of playing the puppet

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Speaker 1: strings to their own benefit that hurt everyone else in

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Speaker 1: the process. But you know, I will say that, you know, certainly,

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Speaker 1: recognizing that the Chinese labor laws are imperfect and that

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Speaker 1: Chinese workers don't have the best conditions, it is definitely

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Speaker 1: the case that globalization has radically reduced global inequality, even

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Speaker 1: as on these sort of microeconomy scales country by country,

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Speaker 1: it's sort of increased inequality. So there is something to

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Speaker 1: the perception that a lot of these global trends are

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Speaker 1: good for poor people in poor countries but not so

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Speaker 1: good for poor people in rich countries. Is they're totally

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Speaker 1: made up, right? But is there a perception that the

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Speaker 1: US and US employees benefit as much from globalization as

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Speaker 1: the supposed people in China in Mexico who are quote

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Speaker 1: aiding out launched unquote. Oh, absolutely, there's definitely a recognition.

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Speaker 1: It's it's sort of folks feel that there are two

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Speaker 1: people who are benefiting. It's it's the workers who are

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Speaker 1: poor but in other countries, not the workers who are

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Speaker 1: poor here at home, and the people who have access

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Speaker 1: to you know, financial power, political power, what have you.

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Speaker 1: There's there's definitely a sense and I think a certain

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Speaker 1: frustration at local, homegrown companies for not hiring more workers.

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Speaker 1: I mean, that's why Made in America, Buy in America

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Speaker 1: has such cultural appeal, because people do recognize that there

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Speaker 1: are there are other people in the country who are

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Speaker 1: benefiting from some of these trends, even if they don't

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Speaker 1: understand precisely how. There's definitely that broad perception out there.

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Speaker 1: All right, well, JD, We've really covered a lot of

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Speaker 1: ground here, but one last question we we just can't

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Speaker 1: let you go without a prediction. Is going to carry

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Speaker 1: Ohio and who will win the presidential election? Will they

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Speaker 1: be the same person? I mean, usually they have been,

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Speaker 1: but this year might be different. Ohio might not go

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Speaker 1: the way of the country. So my prediction is that

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Speaker 1: Hillary Clinton will win the presidential election, and I think

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Speaker 1: that she'll eke out a small victory in Ohio. That's

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Speaker 1: my best guess, though I recognized I'm going out on

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Speaker 1: a limb because all the polls say that Trump is

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Speaker 1: up by three or four points. But you know, there's

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Speaker 1: something to be said for a relative conservatism in Ohio.

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Speaker 1: And it's not just the conservatism as it's used in

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Speaker 1: an ideological way, but it's the conservatism about fearing someone

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Speaker 1: who's potentially a little bit unstable or a little bit unpredictable.

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Speaker 1: And I do think that that that impulse in Ohio

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Speaker 1: politics may prevail, even though you know, there are a

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Speaker 1: lot of angry folks, a lot of people that I

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Speaker 1: love and care about, who are going to vote for

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Speaker 1: Donald Trump because they think, you know, let's let's sort

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Speaker 1: of throw the proverbial middle finger into this president initial race,

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Speaker 1: because things certainly aren't going to get better if we

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Speaker 1: stay on the path that we're staying on right now. Well,

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Speaker 1: J I, D. I can't sign off without asking you

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Speaker 1: how your sister is doing. One thing that comes across

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Speaker 1: repeatedly in the bookcase, what a load style she and

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Speaker 1: her family have been for you? How is she doing

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Speaker 1: and what does she think of all this? Well? My

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Speaker 1: sister is is my biggest fan, and it's one of

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Speaker 1: the most gratifying aspects of writing the book is that,

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Speaker 1: you know, whenever there's a criticism of the book on Facebook,

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Speaker 1: almost always it's my sister who's there defending me and saying,

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Speaker 1: don't don't you talk about about my brother. So she's

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Speaker 1: she's very proud of me, and I'm of course very

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Speaker 1: proud of her. She's doing really well. I actually saw

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Speaker 1: her last weekend and saw her beautiful daughter go to homecoming,

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Speaker 1: her first homecoming. So it really is is just wonderful

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00:23:46,440 --> 00:23:48,840
Speaker 1: to see my sister and and and a lot of

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Speaker 1: my family back home doing well. And they're my biggest fans,

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Speaker 1: and I'm glad that I have them in my corner.

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Speaker 1: We'd love to have you back here some time to

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Speaker 1: talk about global economic trends and their impacts on individual

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Speaker 1: country reason communities, because you know, again, I do feel

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Speaker 1: you've tapped into something here with your book. Great to

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Speaker 1: have you will be back next week, and until then,

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00:24:08,800 --> 00:24:11,560
Speaker 1: you can find us on the Bloomberg terminal and Bloomberg

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Speaker 1: dot com, as well as iTunes, pocket cast, and Stitcher.

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00:24:15,080 --> 00:24:17,520
Speaker 1: Why they take a minute to rate and review the

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Speaker 1: show so more people can find us, and you can

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Speaker 1: find me on Twitter at at Scott Landman and Dan

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Speaker 1: at at Daniel Moss d C. I am at j

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Speaker 1: d evans one on Twitter. Thank you guys for having me.

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Speaker 1: Thank you, See you next week. Brought to you by

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Speaker 1: Bank of America. Merrill Lynch Seeing what others have seen,

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Speaker 1: but uncovering what others may not. Global Research that helps

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Speaker 1: you harness disruption voted top global research from five years running.

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Speaker 1: Merrill Lynch, Pierce, Fenner and Smith Incorporated. I