Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: A single best idea and the first conversation we have today.
Speaker 2: I really need to explain the heritage of what we
Speaker 2: do here is we don't prepare any questioning and long
Speaker 2: ago and far away, I just I have no memory
Speaker 2: of preparing for this. We came up with the idea
Speaker 2: of rip up the script. I detest scripts with a passion.
Speaker 2: We have scripted name and title of guests, and that's
Speaker 2: really about all. We have wonderful biographies prepared by our team,
Speaker 2: and there'll be a research note from somebody, or a
Speaker 2: couple paragraphs or that. Maybe somebody will send in three
Speaker 2: research notes. To be honest, I'll glance at them looking
Speaker 2: for key ideas. But always we've had this idea and
Speaker 2: the jargon is to prepare an audible where we rip
Speaker 2: up the script. You get lucky if you have someone
Speaker 2: like Ben Laidler now Bradesco, who has been the number
Speaker 2: one call in this bull market going back to Christmas
Speaker 2: Eve of twenty eighteen, and we're just to talk to
Speaker 2: Ben Ladler about the stock market, about the nasdack up,
Speaker 2: all this attention with technology, Microsoft earnings this afternoon and such.
Speaker 2: But I had to rip up the script and asked
Speaker 2: Ben Ladler about Venezuela, Latin America and his great em
Speaker 2: experience going back to JP Morgan decades ago.
Speaker 3: I think most investors are unfortunately spectators to this. Unfortunately,
Speaker 3: i've the last thirty years Venezuela has just shrunk to
Speaker 3: become a fraction besides economy, stock market, bond market that
Speaker 3: it used to be. Hopes are the altar this turns
Speaker 3: around and we see a reintegration of what used to
Speaker 3: be one of the biggest richest economies in Latin America
Speaker 3: back into the region. But right now I think, unfortunately
Speaker 3: we're right at the beginning of that, or maybe at
Speaker 3: the very earliest stages of that.
Speaker 2: Ben Laidler and I can't say enough for the delicacies
Speaker 2: of compliance and all that these are sometimes difficult questions
Speaker 2: for our guests to answer given their remit of where
Speaker 2: they are. We thank Ben Laidlor and Bridesco for some
Speaker 2: real informative clarity there on the unrest in Venezuela. Also
Speaker 2: thank you to ros Matheson, head of all of our
Speaker 2: government coverage, for her clarity there on just the agenda
Speaker 2: of Venezuela trying to get to Wednesday morning. We'll have
Speaker 2: continued coverage from our offices in Caracas as well our
Speaker 2: news bureau, I should say, in Caracas. So much coming up.
Speaker 2: It is the busiest week of the summer. A FED
Speaker 2: meeting tomorrow. We'll have the FED decides myself, John Pharaoh,
Speaker 2: Lisa Bramwenttz will bring that to you at the one
Speaker 2: thirty hour in the afternoon. Much more coming up as well,
Speaker 2: Microsoft earnings to dive into the tech frenzy of the
Speaker 2: next two three days. We'll do that in Nvidia, by
Speaker 2: the way, later this month, much later, I believe the
Speaker 2: date's August twenty eighth. Within this is the new dialogue
Speaker 2: and the FED setting the marker for that was the
Speaker 2: vice chairman, the former vice chairman of the FED, Alan
Speaker 2: Blinder of Princeton. He's been a wonderful friend of the show,
Speaker 2: who wrote a blistering Wall Street Journal piece on the
Speaker 2: FED and seasonality. Mike Green quite astute. It's simplify us
Speaker 2: at management. Mike Green on the silliness of our data dependency.
Speaker 1: Anecdotes are data in one form or another, right, but
Speaker 1: we need to actually have a theoretical model and understanding
Speaker 1: of what's really going on. We are looking at components
Speaker 1: of inflation that are deeply lagging, things like insurance that
Speaker 1: ensures the value of the car as of last year,
Speaker 1: right that it relates to behaviors of consumers who are
Speaker 1: increasingly and deciding to sue people for compensation in a
Speaker 1: variety of ways. We're seeing this insurance fraud is rising.
Speaker 1: Those are not inflationary. Those are market pressures and market powers,
Speaker 1: and the answer to them, of course, is fewer people
Speaker 1: drive cars. That's going to end up playing out even
Speaker 1: as the FED reacts.
Speaker 2: Mike Green, a Simplify Asset Management major shout out ed
Speaker 2: Ludlow's visiting us in New York this week. We're going
Speaker 2: to have him in a couple times through the week
Speaker 2: and we'll do the big tech thing in San Francisco
Speaker 2: in that But we did a wonderful segment today. Look
Speaker 2: for that on our replay out at Bloomberg Podcasts out
Speaker 2: at Bloomberg Surveillance. There you'll find the three hour replay.
Speaker 2: Halfway through it is Ed Ludlow on his experiment of
Speaker 2: driving at Tesla with no hands on the steering wheel,
Speaker 2: and he's been fabulous about putting this out on Twitter
Speaker 2: and frankly terrifying. Was just the trip across the Golden
Speaker 2: Gate Bridge in San Francisco, and it was pretty good
Speaker 2: and pretty smooth, but there was a butt. And I
Speaker 2: tell you, I don't understand where this self driving thing
Speaker 2: is going to. I do understand. We're on Apple CarPlay.
Speaker 2: Probably he was listening on Apple CarPlay to Bloomberg Surveillance
Speaker 2: at four a m. Or whatever in the morning in
Speaker 2: San Francisco on Android Auto and of course subscribe to
Speaker 2: Bloomberg Podcasts Our foundational effort on YouTube on Apple Podcasts.
Speaker 2: This is single best idea