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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, Bloomberg Money.

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Speaker 2: This is the Bloomberg Money Podcast. I'm Tom Keene with

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Speaker 2: Scarlet Foo. Join us each week for a smart look

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Speaker 2: at the forces shaping your financial life. On Personal Finance,

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Speaker 2: on Retirement, and Wealth Management. We will explore how people

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Speaker 2: are earning, investing, and building wealth. We are live Fridays

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Speaker 2: at noon Eastern on Bloomberg Television. Subscribe to the podcast

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Speaker 2: wherever you listen, and as always on the Bloomberg Terminal

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Speaker 2: and the Bloomberg Business app.

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Speaker 3: Good Moon.

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Speaker 2: Everyone is Bloomberg Money, on Personal Finance, on Retirement, on

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Speaker 2: health Manager as well. Scott Fu and Tom King, thank

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Speaker 2: you for being with us today. A great set of

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Speaker 2: people coming up. At first, we got to talk a

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Speaker 2: FED meeting next week, and it's got to have something

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Speaker 2: to do with my personal finance.

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Speaker 3: I don't know what yet.

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Speaker 4: They're going to talk about inflation, it's definitely going to come.

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Speaker 3: Are they going to raise rates?

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Speaker 5: Uh?

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Speaker 1: Some people think so.

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Speaker 2: What the rate market district? Tho'k at first Personal Finance

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Speaker 2: the rate market this week?

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Speaker 3: What does it? Exactly? Due to the housing market.

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Speaker 4: It makes it more expensive if you're looking to get

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Speaker 4: a mortgage. Mortgage rates have creep back up again.

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Speaker 2: And of course the whole thing here is everything's getting

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Speaker 2: more expensive. We talked about this for week after week,

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Speaker 2: but the.

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Speaker 4: Fact gas prices are more expensive now because of oil.

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Speaker 3: It was an eventful week.

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Speaker 4: It's certainly stopped by the fact that Lebron James is

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Speaker 4: going to the filly.

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Speaker 3: All the clock up. That took folks nineteen seconds.

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Speaker 2: You're about the script right now, return to Akron Ohio's

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Speaker 2: Nikki Waller here.

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Speaker 3: You almost canceled being on this show, right Yeah, I

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Speaker 3: had to drive to Philly. Are you going to Philly?

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Speaker 3: Did you just assume he go back to Cleveland?

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Speaker 1: I was home.

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Speaker 6: I mean, what a great pre retirement move.

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Speaker 2: The control room's going what in God's name of the

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Speaker 2: two on Bloomberg Money. Here's what we're doing. Edward Jardenny

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Speaker 2: is in the building. It's incredibly important to speak to

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Speaker 2: ed Yard Denny. He is optimistic about the Roaring twenties.

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Speaker 2: He is optimistic that the bond vigilantes won't get.

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Speaker 4: Us Scarlett and later this hour was week with Tricia Scarlatta.

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Speaker 4: She's head of Education Savings at JP Morgan Asset Management.

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Speaker 4: Just a few more weeks ago before it's back to school,

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Speaker 4: so saving for college and all things five twenty nine

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Speaker 4: are top of thee.

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Speaker 2: And I love her because she's got huge enthusiasm. Most

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Speaker 2: people in education are boring, boring, boring, boring, and Tricia

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Speaker 2: just kills it. I mean as a real enthusiasm there

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Speaker 2: about taking hundreds of thousands of dollars from.

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Speaker 4: Us, well, you know, I mean, she's got to be

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Speaker 4: the cheerleader for everyone's saving.

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Speaker 2: Let's look at our first discussion here with good Bloomberg people.

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Speaker 2: Nikki Waller is with us from personal financier, and you

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Speaker 2: get to them two important stories there at a moment.

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Speaker 2: Stacy Vanix Smith with us today as well. Everybody's business

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Speaker 2: are wonderful podcasts. And David Gerr has chosen to be

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Speaker 2: with us. And this is after driving by Reds and me.

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Speaker 2: You came all the way back.

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Speaker 3: I had to be here. The Lineyer's like the odyssey

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Speaker 3: a mile long.

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Speaker 7: I was driving an odyssey as it was anyway, Yes.

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Speaker 1: It's likes good.

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Speaker 2: This came up this week out of the blue, and

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Speaker 2: we're totally we don't just scripts here.

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Speaker 3: David doesn't want to go throw I don't gridlock gridlock.

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Speaker 2: Do we are we rooting for gridlock in twenty twenty seven.

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Speaker 3: Oh, that's a great question. And Washington are just broadly speaking.

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Speaker 3: Broadly speaking, but in Washington, the Washington and David.

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Speaker 7: I think we're facing a lot of gridlock here as

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Speaker 7: we get closer and closer to the election. Look, there's

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Speaker 7: talk here of a government shutdown in October of this year.

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Speaker 7: We just had this vote on a war powers resolution

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Speaker 7: in the House. We saw four Republicans come over to

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Speaker 7: join their Democrats on the other side of the isle.

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Speaker 7: I think that people are aware of the fact that

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Speaker 7: given the pressures that we're seeing overseas now manifest and

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Speaker 7: domestic pressures as well, it's it's unlikely that we're going

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Speaker 7: to see a lot of movement and watch.

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Speaker 1: So I was speak of domestic pressures.

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Speaker 4: Teriffs are back, David and just white President Trump's claim

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Speaker 4: that other countries pay for it. The duties are all

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Speaker 4: basically born by American companies and at the end of

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Speaker 4: the day, American consumers absolutely right.

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Speaker 7: So we see the present using Section three or one

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Speaker 7: of that Trade Act of nineteen seventy four to impose

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Speaker 7: ten to twelve and a half percent tariffs on sixty

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Speaker 7: countries and more perhaps are on the way here. Look,

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Speaker 7: it's an interesting moment at which this is happening. You're

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Speaker 7: going to talk about inflation. I'm sure over the course

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Speaker 7: of the show we know that these are going to

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Speaker 7: be inflationary.

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Speaker 1: It is a choice, to say.

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Speaker 7: The least that the administration is doing this is they

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Speaker 7: look at this war in the Middle East widening and

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Speaker 7: lasting longer than they thought it would be. I think

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Speaker 7: it's still incumbent upon them to try to make the

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Speaker 7: sale to explain to the American people why this is

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Speaker 7: the route that they're going down, these latest tariffs on

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Speaker 7: human rights grounds at least a name, and we'll see

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Speaker 7: sort of the American people.

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Speaker 3: I think people are numbed. Were numbed into the summer.

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Speaker 4: They're customed to a lot of things flying around. Absolutely,

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Speaker 4: but it is a picture of economic anxiety, and you

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Speaker 4: see it in the price action and Nikki. It's fascinating

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Speaker 4: to see how people respond, especially young people, which is

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Speaker 4: a real picture of it. Dreams right, you've got financial

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Speaker 4: nihilism on the one end, and then you've got what

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Speaker 4: some people are calling retirement maxing on the other end.

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Speaker 6: Yes, we took a look this week at this cohort

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Speaker 6: of gen z who are not the ones on prediction markets,

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Speaker 6: who are not the ones taking these yolo bets in

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Speaker 6: the stock market.

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Speaker 1: But instead they are, and we use this with.

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Speaker 6: Our tongue in cheek, a little bit retirement maxing. And

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Speaker 6: they're putting away money into savings rather than spending in

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Speaker 6: the moment, sometimes even ignoring them us most of them,

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Speaker 6: not yet because around people under thirty, yeah, sure that'll

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Speaker 6: take care of your excess emerging. But yeah, people putting

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Speaker 6: into iras and their four one case as much as

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Speaker 6: they can because they don't know what's coming ahead.

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Speaker 4: Right, And this idea that they're not even spending on

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Speaker 4: themselves because they're just saving in every way, Stacy, you

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Speaker 4: have written or you've written about, and you've talked about

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Speaker 4: on your podcast, this idea that Americans are spending less

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Speaker 4: time on enjoying themselves, on spending for themselves recreational products.

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Speaker 4: There's something called funflation taking place.

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Speaker 8: Yes, there's a little bit of funflation taking place because

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Speaker 8: things have gotten so expensive. Obviously since the pandemic, we've

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Speaker 8: spent a lot more money on experiences rather than just goods.

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Speaker 8: We've we've tended to spend on services. Demand for services

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Speaker 8: is up, prices for services are up. Even going to

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Speaker 8: see The Odyssey this weekend could cost.

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Speaker 9: A lot of money.

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Speaker 8: The tickets for IMAX are on sale on the secondary

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Speaker 8: market for several hundred dollars.

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Speaker 9: But this, I mean, if you have kids.

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Speaker 8: For instance, just going out for ice cream, just going out,

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Speaker 8: you know, to try to movie and pizza, can can

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Speaker 8: easily go into the hurre.

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Speaker 2: Toptic two hundred dollars and Brooklyn ones going to going

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Speaker 2: to the movies, right, got a whole meal at the

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Speaker 2: the whole mail and all that stagey.

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Speaker 3: I got to ask you.

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Speaker 2: I talked to Nashville today, I talked to Austin, Texas.

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Speaker 3: You know Boise Cold with Micron and the boom there.

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Speaker 3: I mean, part of.

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Speaker 2: This nation has explosively boom cities, don't they.

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Speaker 9: Oh yeah, yeah.

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Speaker 8: I grew up in Boise and right now everyone's talking

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Speaker 8: about them Micron millionaires.

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Speaker 1: So Micron is based.

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Speaker 3: In Should we congratulate you?

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Speaker 8: I tragically, I'm not a micro' sure I did.

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Speaker 9: I went into journalism.

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Speaker 8: I don't know what I was thinking, but yeah, I

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Speaker 8: mean it's the it's one of the biggest employers in

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Speaker 8: the state. It's been making ship since nineteen seventy two,

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Speaker 8: a lot of ups and downs, but now thanks to you, AI.

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Speaker 8: I mean, it's just it's going not to say.

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Speaker 3: I want to get this in. It's just too important.

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Speaker 2: We do personal finance, we do retirement, we do wealth management,

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Speaker 2: and Nikki Waller and Suzanne Willie have without question the

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Speaker 2: essay of the day. It comes to Marlin over at Fidelity.

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Speaker 2: I was shocked at the chart the jump condition in

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Speaker 2: healthcare costs for retirees.

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Speaker 6: Yeah, it is, absolutely, It's been rising for years.

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Speaker 1: And what we're seeing is that.

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Speaker 6: If you are retiring this year, your health cost that

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Speaker 6: you will pay out of pocket, if you're a couple,

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Speaker 6: it's up to three hundred and seventy one thousand dollars.

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Speaker 6: That is an almost eight percent jump from last year.

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Speaker 2: Is supposed to be almost like free, like fifteen thousand dollars.

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Speaker 1: Yeah, no, that doesn't happen anymore.

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Speaker 4: And if you're a genetser like David Gurrow myself, you're

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Speaker 4: also thinking about really paying for your parents' care and

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Speaker 4: saving for your kids college tuition.

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Speaker 1: At the same time. So this just adds to it.

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Speaker 1: We'll be working.

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Speaker 7: Forever incredibly don't think yes, I agree, Okay, David Gurrow,

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Speaker 7: thank you so much, thank you for coming in.

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Speaker 2: Nice to have you next time and bring something from

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Speaker 2: Red Side and maybe with you. Stacy Vanixmith thinking well

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Speaker 2: or thank you so much as well. You know, I

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Speaker 2: look at this and I know the theme of the show.

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Speaker 2: It should be called Bloomberg Inflation. It should be the.

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Speaker 1: You know brand.

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Speaker 3: But this has been a really stressful week.

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Speaker 2: I mean, yeah, I'm sorry that Wednesday it was like vibrating,

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Speaker 2: I know.

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Speaker 4: But it's calmed down a little bit here on this Friday,

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Speaker 4: and you know, next week we've got a lot to

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Speaker 4: look ahead to, especially this hyperscaler earnings, because it looks

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Speaker 4: like AI is driving this entire economy.

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Speaker 2: And everybody involved with Bloomberg money, retirement, wealth management, they

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Speaker 2: all own it, don't they. We don't want we're going

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Speaker 2: to talk about that. We have a wonderful lineup here

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Speaker 2: coming up. Edward Yardeni of your Denning research. He is

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Speaker 2: definitive across the linkage of economics into the markets.

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Speaker 3: He is a true decade optimist.

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Speaker 2: And your Denny on these oring twenties from New York City,

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Speaker 2: it is Bloomberg Money this weekend.

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Speaker 3: Here it ago. I'm not now maybe I'll go.

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Speaker 2: You're listening to Bloomberg Money, stay with us with more

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Speaker 2: to come after this.

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Speaker 3: Bloomberg Money.

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Speaker 2: A perfect Friday in New York City. We had someone

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Speaker 2: in from Austin to the scarlet one hundred and five degrees.

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Speaker 2: Hundred five degrees, they said in Austin some of the South.

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Speaker 2: You know you expect it as well, but did you

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Speaker 2: get your utility bill?

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Speaker 3: For what?

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Speaker 1: I want to look at it?

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Speaker 3: I looked at it last night. It's painful.

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Speaker 2: Yeah, after thought of the air conditioning twenty fourth and

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Speaker 2: for thirty days in a row.

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Speaker 3: Let's do this.

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Speaker 2: Let's look at inflation, look at our optimism within the markets.

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Speaker 3: Joining us now definitive on Wall Street.

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Speaker 5: It's C. J.

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Speaker 3: Lawrence.

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Speaker 2: Just a few years ago he helped invent the synthesis

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Speaker 2: of economics into stock market analysis. Ed Yard Danny joins

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Speaker 2: us your Denny research Ed. We got a one hour conversation.

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Speaker 3: We're going to cram in here.

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Speaker 2: I got a first go to the therapy that's needed

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Speaker 2: as you go to retirement, which is you've got Max, Chloe,

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Speaker 2: Cooper and Bailey at the Yard Denning House.

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Speaker 3: It's a four dog night, Yeah, it certainly is.

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Speaker 10: It's their king Charles Cavaliers and the cash potato dogs

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Speaker 10: are They're always on the couch and they're sleeping.

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Speaker 2: What are the canel fees to do? I mean, the

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Speaker 2: vet bill must be just like seriously off.

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Speaker 10: But child, you have to get health insurance for your dogs.

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Speaker 10: I mean it's it's that that's your Bloomberg? Were any advice?

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Speaker 10: Thank you very much.

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Speaker 3: Here let me go to the chart right now.

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Speaker 2: Pull up an important chart here coming out of COVID.

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Speaker 2: In an our over of twenty two, a guy named

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Speaker 2: Ankomport in the chart area in Yar Denny and the

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Speaker 2: Economics and Finance said, courage by here, what did you

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Speaker 2: see in October twenty two that gives you continued confidence

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Speaker 2: in the market.

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Speaker 10: Well, October twenty two was a very strange bear market.

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Speaker 10: Usually bear markets are associated with recessions. There was no recession.

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Speaker 10: As a matter of fact. At the time, I kept

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Speaker 10: saying that we are experiencing the most widely anticipated recession

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Speaker 10: of all times. That just isn't going to happen. It

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Speaker 10: was the goodeaux recession, if you will. I just kept

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Speaker 10: betting on the resilience of the economy, and so I

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Speaker 10: kind of viewed the bear market as the aberration rather

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Speaker 10: than the economy, which remained very strong. The earnings were

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Speaker 10: holding up reasonably well, so I kind of viewed that

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Speaker 10: as a panic attack. Now, look, there were good reasons

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Speaker 10: for concerns. The Fed was raising interest rates from zero

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Speaker 10: to five point five percent of the Fed funds rate,

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Speaker 10: the bond dealer was going up. Oil price has got

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Speaker 10: a big spike, and yet the resiliency economy came through remarkably.

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Speaker 3: Well.

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Speaker 10: We were betting on that, and we're still betting on

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Speaker 10: the resilience of the economy.

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Speaker 4: Yeah, So I want to take it to what we're

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Speaker 4: seeing right now. Because you said bonnialds were going up,

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Speaker 4: oil prices are going up. That's exactly what's happening now.

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Speaker 4: The stock market has kind of slowed down a little bit.

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Speaker 4: So the parallels between then and now, one could say

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Speaker 4: is noteworthy.

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Speaker 10: Well, there's definitely parallels, but one of the big differences

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Speaker 10: is earnings. We've got what I call you know, everybody

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Speaker 10: talks about FOMO fear of missing out. I'm talking about

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Speaker 10: FEMO and that is fabulous earnings momentum. We didn't have

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Speaker 10: that back in twenty twenty two. And it was really

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Speaker 10: at the end of twenty twenty twenty November that we

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Speaker 10: suddenly had chat GPT and AI revolution just starting.

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Speaker 3: And the arc of this.

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Speaker 2: And I just finished Justin BER's wonderful book on Ned

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Speaker 2: Johnson and you know the industry from Arisa nineteen seventy

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Speaker 2: four forward. My basic take is we've read tionalized in

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Speaker 2: ownership of bonds, which has been really difficult since twenty two.

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Speaker 2: Since twenty one as well, is the basic psychology of

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Speaker 2: retirement now afraid of stocks.

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Speaker 3: I don't think so. I think actually quite the opposite.

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Speaker 10: I think a lot of my friends are retiring where

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Speaker 10: the baby boomers. I'm still working for a living because

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Speaker 10: I don't play golf, so I don't know what I

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Speaker 10: would do with myself. I know by the way I

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Speaker 10: get seasick on cruises. My friends are all going on cruises.

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Speaker 10: They used to go one every three years, now they

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Speaker 10: go three a year. And I get text messages for

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Speaker 10: them saying, I don't know what you're doing, but keep

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Speaker 10: this market going up because we're spending money like crazy and.

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Speaker 2: Are not worthing suns. Last week's Girl it was brilliant

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Speaker 2: on this setting. The stock market's become the American retirements

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Speaker 2: It absolutely ends.

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Speaker 10: Do you know that the baby boomers have ninety trillion

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Speaker 10: dollars trillion trillion dollars of net worth and by the way,

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Speaker 10: there's still some people left from the so called silent

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Speaker 10: generation older than the Baby Boomers. They have twenty trillion dollars.

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Speaker 10: So we're talking over one hundred trillion dollars of retirement

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Speaker 10: net worth assets for the largest generation ever that is retiring.

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Speaker 1: Are they going to use that?

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Speaker 4: Are they going to actualize that, or are they going

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Speaker 4: to just pass it on to their You know, the.

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Speaker 10: Kids didn't listen and they did they didn't like we

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Speaker 10: didn't like their friends, and they were noisy.

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Speaker 3: So why leave them anything? Just spend like crazy.

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Speaker 10: But look, a lot of people have been talking about

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Speaker 10: the k economy that you know, the rich are getting

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Speaker 10: rich or the poor are getting poor. I think that's missus.

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Speaker 10: What's really going on, and that's the demography. We've got

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Speaker 10: a very very well off Baby Boom generation and they're

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Speaker 10: helping their younger children and grandchildren. The affordability crisis is

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Speaker 10: really old versus young retiring people. They don't really care

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Speaker 10: if the Fed titans retiring people really don't care much

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Speaker 10: about the labor market because they're retired. All they really

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Speaker 10: care about really is the stock market. How should our

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Speaker 10: audience of retirement, of personal finance, how should they synthesize

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Speaker 10: the FED madness? You and I remember when Arthur Burns

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Speaker 10: had smoke coming out of the pipe and we interpreted that.

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Speaker 3: Now we've got this parlor game.

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Speaker 2: How does ed your Denny filter that if it's for

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Speaker 2: long term investment.

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Speaker 10: Well, I think you focus on the economy, if you

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Speaker 10: believe in the resilience of the economy, if you believe

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Speaker 10: that the labor market is in balance. We got a

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Speaker 10: four point three percent unemployment rate, which is awfully good.

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Speaker 3: We have an inflation problem.

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Speaker 10: The FED is going to have to probably raise interest

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Speaker 10: rates at least once, maybe a second time, maybe even

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Speaker 10: a third time, according to where the two year treasury

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Speaker 10: no yield is right now, I think you kind of

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Speaker 10: grin and Barrett and try to enjoy your retirement life,

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Speaker 10: because I think the market will continue to defy the bears,

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Speaker 10: because the economy will continue to defy the pessimists.

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Speaker 4: You were saying that the boomers don't care about the

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Speaker 4: FED raising rate. They're going to enjoy their retirement.

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Speaker 1: I'm not a boomer.

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Speaker 4: I'm a gen xer, so I got to work for longer.

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Speaker 4: And I'm wondering whether a higher for longer interest rates

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Speaker 4: means that I have to rethink, reassess, pivot my investment strategy.

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Speaker 10: Well, the short answer is yes, But I'm not a

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Speaker 10: big fan of the higher for longer idea about interest rates.

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Speaker 10: I think interest rates are back to normal. In other words,

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Speaker 10: four to five ten year treasury body is a sign

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Speaker 10: of a very healthy economy. It's it's a yield that

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Speaker 10: made sense before the Great Financial Crisis. The aberration higher

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Speaker 10: for longer implies we're going to be going back to

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Speaker 10: the zero. I see what, You're closer to zero interest rates?

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Speaker 1: This is it, This is this is probably the abnormal.

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Speaker 10: Yeah, now, six six, six and a half percent, seven

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Speaker 10: percent mortgage rates came awfully high to a lot of

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Speaker 10: people compared to what compared to where they were when

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Speaker 10: the economy wasn't doing so well.

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Speaker 2: And I know that you're seeing the odyssey. I guess

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Speaker 2: it's tonight. You're going to see Friday today.

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Speaker 3: They don't know that you were writing a.

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Speaker 2: Newsletter in Sparta a few years ago. We all know

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Speaker 2: that the nineteen twenties Roaring twenties, it wasn't pretty. What

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Speaker 2: happens after the Yardeni Roaring twenties of this twenty first.

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Speaker 10: Century, Yeah, I'm trying to sort that out now. I

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Speaker 10: think that if the Roaring twenty twenties works, and then

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Speaker 10: in other words, that the economy doesn't have a recession,

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Speaker 10: the stock market continues to go up. I've got ten

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Speaker 10: thousands on the S and P five hundred by the

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Speaker 10: end of the decade. If that works, there's no particular

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Speaker 10: reason why it couldn't be the Roaring twenty thirties. As

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Speaker 10: a matter of fact, that talking about a decade is roaring.

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Speaker 10: That's what the stock market usually does during decades. I've

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Speaker 10: only been a few decades where the market was just

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Speaker 10: kind of flat, where it was a nothing kind of environment,

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Speaker 10: And certainly that was the nineteen thirties were terrible, and

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Speaker 10: the nineteen seventies were no picnic, and then the period

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Speaker 10: around the Great Financial Crisis was So We've had decades

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Speaker 10: where you made nothing, but there have been lots of

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Speaker 10: decades where the market's done very well.

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Speaker 2: Not just the nineteen twenties, be nice to the nineteen seventies.

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Speaker 2: We had Bob Seger and so we got through it somehow,

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Speaker 2: Ede and he's with us, and we'll continue with this.

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Speaker 4: You're bullish on the equity market, You've long been bullish

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Speaker 4: on the equity market. You talk about boomers, this generation

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Speaker 4: that is feeling pretty good with the giche that they've seen.

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Speaker 4: What'll surprise other people about how you spend, how you

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Speaker 4: save money given what has happened.

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Speaker 10: Well, I found over the years that I can't really trade,

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Speaker 10: I can't really manage my own money because I'm too

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Speaker 10: busy doing.

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Speaker 3: My day job.

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Speaker 10: And the other thing is there's been kind of a

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Speaker 10: conflict of interest if my portfolio suddenly is thinking and

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Speaker 10: turns me pessimistic, and then I'm writing pessimistic, and it's

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Speaker 10: kind of just reflecting my own personal angst. So I

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Speaker 10: try to basically stay an ETFs and.

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Speaker 3: Keep things somewhat liquid.

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Speaker 10: Also have stocks and bonds, but mostly in an ETF portfolio.

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Speaker 4: How far out do you go? How colorful do you

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Speaker 4: go to your ETFs?

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Speaker 10: Well, you know, as I as I get old, as

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Speaker 10: I get older, I don't need bonds that go to

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Speaker 10: for thirty years, so maybe, you know, maybe I should

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Speaker 10: do that. Maybe I think you should say my triple

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Speaker 10: leveraged all cash, it would be secure.

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Speaker 3: Yeah.

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Speaker 10: But basically, I believe in the market. I believe that,

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Speaker 10: you know, the S and P five hundred has been

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Speaker 10: awfully good, and even better has been the Nasdaq one hundred.

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Speaker 10: Technology has been a leading sector in our economy.

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Speaker 4: Okay, So it looks like growth all the way for

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Speaker 4: doctor Eduard Denny.

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Speaker 10: Yeah, and I think you know a lot of these

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Speaker 10: so called Trump accounts probably will get.

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Speaker 3: Invested that way.

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Speaker 4: All right, of your Denny Research, Bloomberg Money.

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Speaker 2: Good afternoon everyone, Tom keenan scarlet. If we've got to

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Speaker 2: do a data check, it's not as frenzy as Wednesday

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Speaker 2: or Thursday, but you know, there it is.

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Speaker 4: It's calmed down quite a bit. In fact, we started

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Speaker 4: the day kind of unchanged. Now we're at session highs

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Speaker 4: the S and P five hundred gaining two thirds of

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Speaker 4: one percent for the week.

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Speaker 1: However, we're still looking at two straight.

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Speaker 4: Weeks of losses and the Vics coming down to seventeen

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Speaker 4: and a half.

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Speaker 2: John gallibed seaport he had thirty four percent. I believe

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Speaker 2: it is of SPX is next week's number. He is

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Speaker 2: shape huge renumber cross hand set is the way we roll.

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Speaker 2: We look at equities, bonds, currencies, commodities. Oil pulls back.

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Speaker 2: That's American oil from a ninety two back to eighty eight.

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Speaker 2: D xy premnch solid. Your strong dollar watched again over

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Speaker 2: the weekend, and again equity markets are up today.

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Speaker 4: All right, Well, you know the thing that so many

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Speaker 4: families save for higher education, It's in trouble. Costs are

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Speaker 4: out of control, schools are closing, and Americans are increasingly

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Speaker 4: questioning the return on investment of a college degree. This

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Speaker 4: was the thrust of a Bloomberg News story written by

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Speaker 4: Liam Knox, our education policy reporter who finds himself in

441
00:20:51,040 --> 00:20:51,400
Speaker 4: New York.

442
00:20:51,480 --> 00:20:53,200
Speaker 1: So we brought him in. Thank you so much, Liam.

443
00:20:53,480 --> 00:20:56,600
Speaker 4: Having it so, I want to focus on grad school programs,

444
00:20:56,600 --> 00:20:59,879
Speaker 4: which you recently wrote about. Master's and PhD programs are

445
00:21:00,080 --> 00:21:02,960
Speaker 4: in even bigger trouble than college programs as a whole.

446
00:21:02,960 --> 00:21:03,520
Speaker 1: Why is that?

447
00:21:03,840 --> 00:21:05,760
Speaker 11: Well, there are many factors to that, but right now,

448
00:21:05,840 --> 00:21:09,080
Speaker 11: chief among them is President Donald Trump. The Trump administration

449
00:21:09,160 --> 00:21:12,760
Speaker 11: has been working to reshape higher education in general, but

450
00:21:13,520 --> 00:21:17,640
Speaker 11: a kind of perfect storm of political threats has hit

451
00:21:17,880 --> 00:21:22,720
Speaker 11: master's programs and PhD programs especially hard. There's the crackdown

452
00:21:22,760 --> 00:21:26,120
Speaker 11: on student visa applicants and international students, who make up

453
00:21:26,280 --> 00:21:30,080
Speaker 11: a disproportionate amount of grad students in this country compared

454
00:21:30,080 --> 00:21:34,680
Speaker 11: to undergrads. There is the curtailing of federal research money

455
00:21:34,720 --> 00:21:38,760
Speaker 11: and the huge historic uncertainty around that relationship between the

456
00:21:38,800 --> 00:21:42,280
Speaker 11: federal government and research universities, which are hitting grad programs

457
00:21:42,359 --> 00:21:46,000
Speaker 11: especially hard, PhD programs in particular, but also master's programs,

458
00:21:46,160 --> 00:21:51,400
Speaker 11: particularly in stem fields. And then there's also new strict

459
00:21:51,480 --> 00:21:54,359
Speaker 11: limits on federal lending for grad students who used to

460
00:21:54,400 --> 00:21:57,280
Speaker 11: be able to borrow practically unlimited amounts of money to

461
00:21:57,359 --> 00:21:59,600
Speaker 11: attend grad school and are now going to have some

462
00:21:59,640 --> 00:22:02,359
Speaker 11: pretty strict new caps on that lending.

463
00:22:02,440 --> 00:22:04,280
Speaker 4: And a lot of people say that it was those

464
00:22:04,359 --> 00:22:06,800
Speaker 4: uncapped loans that kind of fueled the rise of grad

465
00:22:06,800 --> 00:22:09,520
Speaker 4: school programs, making them the cash cow for universities. I

466
00:22:09,560 --> 00:22:12,280
Speaker 4: actually recently sat down with Ken Ridguero of a cent

467
00:22:12,400 --> 00:22:15,800
Speaker 4: Funding about student borrowing from the private loan perspective, because

468
00:22:15,800 --> 00:22:16,640
Speaker 4: they're a private lender.

469
00:22:16,720 --> 00:22:18,639
Speaker 1: Let's take a listen, and.

470
00:22:18,720 --> 00:22:22,760
Speaker 12: About fifty to seventy five percent of the student situation.

471
00:22:23,000 --> 00:22:26,159
Speaker 12: The private sector can support the student with all the

472
00:22:26,200 --> 00:22:29,960
Speaker 12: borrowing they need at rates that are either a little

473
00:22:30,040 --> 00:22:33,119
Speaker 12: less than the current federal loan or a little bit

474
00:22:33,200 --> 00:22:34,480
Speaker 12: higher than the federal loan.

475
00:22:34,680 --> 00:22:37,240
Speaker 4: Why is there a difference in the rate that some

476
00:22:37,359 --> 00:22:39,560
Speaker 4: private lenders would charge versus the federal government.

477
00:22:40,200 --> 00:22:44,080
Speaker 12: The federal government doesn't pull credit. Credit is priced relative

478
00:22:44,119 --> 00:22:48,280
Speaker 12: to the expectation of repayment. So when there's a high

479
00:22:48,280 --> 00:22:52,120
Speaker 12: expectation of repayment, then we can give very very low

480
00:22:52,160 --> 00:22:54,200
Speaker 12: interest rates lower than the federal government.

481
00:22:55,200 --> 00:22:58,719
Speaker 4: Okay, so the economics are clearly changing for a grad school.

482
00:22:59,040 --> 00:23:01,240
Speaker 4: What are the schools themselves doing in response to this?

483
00:23:01,280 --> 00:23:02,359
Speaker 4: How are they dealing with this?

484
00:23:03,000 --> 00:23:04,879
Speaker 11: Some of the wealthiest schools are able to kind of

485
00:23:04,880 --> 00:23:08,119
Speaker 11: be more flexible, and some of them are actually setting

486
00:23:08,160 --> 00:23:11,040
Speaker 11: up their own federal loan programs with rather their own

487
00:23:11,080 --> 00:23:14,520
Speaker 11: loan programs to replace federal landing streams. Yale at this,

488
00:23:14,640 --> 00:23:17,639
Speaker 11: You Pen did this, and Harvard is doing it. Others

489
00:23:17,720 --> 00:23:21,360
Speaker 11: are going to be hedging by enrolling more undergraduate students.

490
00:23:21,880 --> 00:23:24,360
Speaker 11: The ones that can do that, that have deep applicant pools,

491
00:23:24,680 --> 00:23:29,960
Speaker 11: big brand names, money to expand physically their campuses. Colombia's

492
00:23:30,000 --> 00:23:34,600
Speaker 11: doing this the University of Chicago, Dartmouth College, other schools

493
00:23:34,640 --> 00:23:37,360
Speaker 11: that don't have the same kinds of brand name recognition.

494
00:23:37,400 --> 00:23:40,960
Speaker 11: They're setting up online programs, cheaper programs.

495
00:23:40,560 --> 00:23:41,359
Speaker 1: And things like AI.

496
00:23:41,520 --> 00:23:43,840
Speaker 11: But a lot of colleges are stretched too thin to

497
00:23:43,920 --> 00:23:46,439
Speaker 11: really adapt and are going to really feel this hit

498
00:23:46,480 --> 00:23:47,920
Speaker 11: them very hard financially.

499
00:23:48,000 --> 00:23:49,240
Speaker 4: All Right, they're going to have to come up with

500
00:23:49,280 --> 00:23:51,760
Speaker 4: some solution. Liam Knox, thank you so much. Our education

501
00:23:51,880 --> 00:23:54,560
Speaker 4: policy reporter normally in Washington, but here in New York

502
00:23:54,800 --> 00:23:56,040
Speaker 4: for the day, came.

503
00:23:55,880 --> 00:23:59,040
Speaker 3: Into the office. He did massive work from office. It's

504
00:23:59,040 --> 00:23:59,680
Speaker 3: a whole new thing.

505
00:24:00,000 --> 00:24:00,639
Speaker 1: We appreciate it.

506
00:24:00,760 --> 00:24:04,280
Speaker 2: We appreciate it. When we put Bloomberg money together. One

507
00:24:04,280 --> 00:24:06,199
Speaker 2: of the first names I said is we have to

508
00:24:06,240 --> 00:24:07,919
Speaker 2: have Tricia Scarlatta on.

509
00:24:08,400 --> 00:24:11,920
Speaker 3: She's head of Education Savings at JP Morgan Boring.

510
00:24:12,160 --> 00:24:15,840
Speaker 2: Like articles in five twenty nine's in this she brings

511
00:24:15,960 --> 00:24:20,400
Speaker 2: an energy and verve to this agony like no one

512
00:24:20,600 --> 00:24:20,840
Speaker 2: I know.

513
00:24:20,920 --> 00:24:22,840
Speaker 3: We're thrilled she could join us today.

514
00:24:23,000 --> 00:24:27,399
Speaker 2: Why is Wellesley one hundred thousand bucks a room board intuition?

515
00:24:27,560 --> 00:24:30,760
Speaker 9: He started so nicely, Tom, I think, look because people

516
00:24:30,800 --> 00:24:33,560
Speaker 9: want to go there, because everybody sees you kids on

517
00:24:33,640 --> 00:24:36,680
Speaker 9: social media having a great time, and every kid wants

518
00:24:36,720 --> 00:24:39,359
Speaker 9: to experience the same thing. When there's demand, there's demand,

519
00:24:39,440 --> 00:24:40,160
Speaker 9: people will pay.

520
00:24:40,280 --> 00:24:42,440
Speaker 2: So there's a top one hundred schools, the top two

521
00:24:42,480 --> 00:24:44,080
Speaker 2: hundred and fifty schools, there's a.

522
00:24:44,000 --> 00:24:46,560
Speaker 9: Top everything school don't if you read you could see

523
00:24:46,600 --> 00:24:50,240
Speaker 9: there's top party schools. There's top schools for degrees, and

524
00:24:50,280 --> 00:24:53,960
Speaker 9: there's top schools for experiences. So the competition is out

525
00:24:54,000 --> 00:24:55,760
Speaker 9: there and there are people that pay.

526
00:24:55,960 --> 00:24:58,760
Speaker 2: I mean a school like Cornell or Wellesley, Scarlett. You

527
00:24:58,800 --> 00:25:01,040
Speaker 2: look at it, what twenty app cancer one gets in.

528
00:25:01,359 --> 00:25:03,919
Speaker 1: I think that ratio is a lot smaller than I think.

529
00:25:03,960 --> 00:25:04,760
Speaker 9: It is a lot smaller.

530
00:25:04,920 --> 00:25:06,679
Speaker 1: Yeah, that's no work close. Okay.

531
00:25:06,760 --> 00:25:09,720
Speaker 4: My question is, given how much Wellsley or Cornell costs

532
00:25:09,800 --> 00:25:12,160
Speaker 4: right now, five twenty nine plans are meant to help

533
00:25:12,200 --> 00:25:14,560
Speaker 4: people save to pay up for that. Do we need

534
00:25:14,600 --> 00:25:16,320
Speaker 4: the five twenty nine plans to do much more than

535
00:25:16,359 --> 00:25:17,439
Speaker 4: what they're currently built to do.

536
00:25:18,880 --> 00:25:19,040
Speaker 5: No.

537
00:25:19,160 --> 00:25:21,800
Speaker 9: I think if you're doing it the right way, I

538
00:25:21,920 --> 00:25:23,920
Speaker 9: think what's the right way. The right way is starting

539
00:25:23,960 --> 00:25:26,840
Speaker 9: as early as possible, right, And so that's the problem

540
00:25:26,960 --> 00:25:30,840
Speaker 9: is is that most people just avoid it. They and look, Also,

541
00:25:30,920 --> 00:25:33,040
Speaker 9: problem is life is expensive, and it's hard to balance

542
00:25:33,040 --> 00:25:36,679
Speaker 9: all these things, retirement, saving for emergency, saving for college.

543
00:25:36,840 --> 00:25:41,520
Speaker 9: But if you start early right and save often, you

544
00:25:41,760 --> 00:25:44,720
Speaker 9: can do it. But the issue is people don't start

545
00:25:44,760 --> 00:25:48,520
Speaker 9: early enough. They don't they don't actually save and invest

546
00:25:48,560 --> 00:25:51,040
Speaker 9: early enough. So I do think that they can help

547
00:25:51,080 --> 00:25:55,400
Speaker 9: you get there for sure. I think the responsibility of parents, though,

548
00:25:55,960 --> 00:25:59,600
Speaker 9: is also being realistic. Know what you can afford. Not

549
00:25:59,640 --> 00:26:01,879
Speaker 9: everybody body has to go to Welles. Not everybody has

550
00:26:01,960 --> 00:26:05,400
Speaker 9: to go to the fancy school exactly. There's plenty of options.

551
00:26:05,480 --> 00:26:06,639
Speaker 3: What's the everg school cost?

552
00:26:06,680 --> 00:26:08,840
Speaker 2: If we're talking about the drama of one hundred thousand

553
00:26:09,040 --> 00:26:09,760
Speaker 2: NYU willsy?

554
00:26:09,920 --> 00:26:10,920
Speaker 3: What's the average.

555
00:26:10,640 --> 00:26:15,240
Speaker 9: Cost of america average private school today? They say is sixty.

556
00:26:14,920 --> 00:26:16,080
Speaker 3: Five thousand, sixty five.

557
00:26:16,119 --> 00:26:17,680
Speaker 9: That's assuming somebody's getting it.

558
00:26:17,800 --> 00:26:20,400
Speaker 2: We went out, we did a very careful survey. Here

559
00:26:20,440 --> 00:26:22,640
Speaker 2: went out in the street. We dragged into the studio

560
00:26:22,720 --> 00:26:27,080
Speaker 2: someone to talk about the future eighteen years out. Let's

561
00:26:27,160 --> 00:26:28,760
Speaker 2: listen for me.

562
00:26:28,840 --> 00:26:31,480
Speaker 13: I have a six month old son, Godulate, thank you,

563
00:26:31,720 --> 00:26:35,159
Speaker 13: and the team college savings team was calculating for me

564
00:26:35,200 --> 00:26:38,400
Speaker 13: how much it could cost in eighteen years to spend

565
00:26:38,480 --> 00:26:42,200
Speaker 13: his seven figures get my Alma Mater pen and they

566
00:26:42,280 --> 00:26:44,960
Speaker 13: estimate it could cost eight hundred thousand dollars. I think

567
00:26:45,280 --> 00:26:48,080
Speaker 13: separating right, you have your retirement money, which was still

568
00:26:48,200 --> 00:26:51,159
Speaker 13: really important to continue saving for what we see is

569
00:26:51,160 --> 00:26:54,000
Speaker 13: a lot of families end up actually using their retirement money.

570
00:26:54,080 --> 00:26:57,919
Speaker 2: He borrow from it because eight hundred thousand dollars and

571
00:26:57,960 --> 00:27:00,000
Speaker 2: I mean, you know it's gabriella scientists of course.

572
00:27:01,960 --> 00:27:05,240
Speaker 3: As well. So when you start, how do you start?

573
00:27:05,600 --> 00:27:08,080
Speaker 9: Well, well, if you want to pay for eight hundred

574
00:27:08,119 --> 00:27:10,280
Speaker 9: thousand dollars, you've got to be saving a couple thousand

575
00:27:10,320 --> 00:27:13,480
Speaker 9: dollars a month. It's a lot of money. So how

576
00:27:13,480 --> 00:27:15,359
Speaker 9: do you start. You start, like I said, when the

577
00:27:15,400 --> 00:27:18,600
Speaker 9: baby programs. Yeah, and I think you start when the

578
00:27:18,600 --> 00:27:21,159
Speaker 9: baby is born if you're expecting. Look that My my

579
00:27:21,240 --> 00:27:23,520
Speaker 9: most favorite clients are the ones that are actually starting

580
00:27:23,560 --> 00:27:26,399
Speaker 9: before they have a child, you know, and actually putting

581
00:27:26,440 --> 00:27:27,760
Speaker 9: money away before.

582
00:27:27,560 --> 00:27:29,240
Speaker 4: What a kiss, Just give us money for the kids.

583
00:27:29,400 --> 00:27:32,160
Speaker 9: I'll tell you it's so true. So really, but here's

584
00:27:32,200 --> 00:27:35,040
Speaker 9: the thing. You don't need to save one hundred percent.

585
00:27:35,640 --> 00:27:38,639
Speaker 9: Anything that you're putting away and investing is going.

586
00:27:38,400 --> 00:27:40,200
Speaker 1: To be less in the future.

587
00:27:40,440 --> 00:27:43,520
Speaker 2: Well you just heard there, folks, with precious scarletta bronze.

588
00:27:43,520 --> 00:27:47,520
Speaker 2: It this idea of saving for it all, particularly if

589
00:27:47,520 --> 00:27:49,440
Speaker 2: you have multiple children like you're doing.

590
00:27:49,520 --> 00:27:52,199
Speaker 3: You're like, oh, you think that's funny, Bronze that you

591
00:27:52,200 --> 00:27:53,120
Speaker 3: don't have to do it all.

592
00:27:53,119 --> 00:27:57,480
Speaker 9: You don't have to do it all, but be educated. Understand,

593
00:27:57,520 --> 00:28:00,639
Speaker 9: like you mentioned earlier, the return on investment. You know,

594
00:28:00,920 --> 00:28:03,280
Speaker 9: think about what is the return, what is the degram

595
00:28:03,440 --> 00:28:05,760
Speaker 9: not saying one degree is less valuable than another, but

596
00:28:05,840 --> 00:28:09,760
Speaker 9: monetarily there are differences. So so really go into it

597
00:28:10,240 --> 00:28:13,480
Speaker 9: understanding what is the cost of this institution, what is

598
00:28:13,520 --> 00:28:16,320
Speaker 9: the return going to be on that cost? And look

599
00:28:16,359 --> 00:28:19,119
Speaker 9: at state schools, there's plenty of options. Kids also go

600
00:28:19,200 --> 00:28:21,399
Speaker 9: half the time. They'll do start the first two years

601
00:28:21,560 --> 00:28:25,760
Speaker 9: in a community school and then do another That's I

602
00:28:25,760 --> 00:28:28,040
Speaker 9: know what it's a changing It's half the cost, it's

603
00:28:28,160 --> 00:28:30,520
Speaker 9: half the cost. If you do that, no one cares

604
00:28:30,520 --> 00:28:31,919
Speaker 9: where you went. They just want to know where you

605
00:28:31,960 --> 00:28:32,880
Speaker 9: got your degree from.

606
00:28:33,160 --> 00:28:35,240
Speaker 4: So this month also saw the introduction of the trump

607
00:28:35,240 --> 00:28:39,040
Speaker 4: accounts for babies. Does that change a saving hierarchy for parents?

608
00:28:39,200 --> 00:28:41,880
Speaker 4: I mean, which do prioritize if you can't put money

609
00:28:41,880 --> 00:28:42,440
Speaker 4: into both?

610
00:28:43,080 --> 00:28:45,320
Speaker 9: So that's a really great question, I think a Trump

611
00:28:45,360 --> 00:28:47,960
Speaker 9: account should be looked at as a wealth building account,

612
00:28:48,000 --> 00:28:51,480
Speaker 9: an early retirement plan. It should not really be looked

613
00:28:51,520 --> 00:28:54,920
Speaker 9: at for an education savings plan. So for those who

614
00:28:54,920 --> 00:28:57,360
Speaker 9: are going to get that seed money, you absolutely want

615
00:28:57,360 --> 00:29:00,320
Speaker 9: to get that free money, that thousand dollars. Today there's

616
00:29:00,360 --> 00:29:03,800
Speaker 9: about one point seven million people who have already gotten

617
00:29:03,840 --> 00:29:06,440
Speaker 9: that right, and so there's a lot more that are eligible.

618
00:29:06,680 --> 00:29:08,800
Speaker 9: So you want to get that seed money, for sure.

619
00:29:09,600 --> 00:29:11,800
Speaker 9: But for people that have to make a choice between

620
00:29:12,040 --> 00:29:14,080
Speaker 9: do I put money in a Trump account for education

621
00:29:14,240 --> 00:29:16,760
Speaker 9: or do I go five twenty nine, in my opinion,

622
00:29:16,840 --> 00:29:19,640
Speaker 9: you go five twenty nine because of the tax benefits,

623
00:29:19,680 --> 00:29:20,080
Speaker 9: for sure.

624
00:29:20,240 --> 00:29:21,200
Speaker 3: And then there's down the road.

625
00:29:21,240 --> 00:29:24,240
Speaker 2: Let's look at Tricia skyl out of writing in January. Here,

626
00:29:24,520 --> 00:29:27,440
Speaker 2: it's a money mustere for you this afternoon. One in

627
00:29:27,600 --> 00:29:30,800
Speaker 2: six they own federal student loans with an average of

628
00:29:30,840 --> 00:29:34,160
Speaker 2: thirty nine thy four hundred. It's four hundred and forty

629
00:29:34,160 --> 00:29:39,560
Speaker 2: five dollars every month could go for other financial priorities.

630
00:29:39,600 --> 00:29:41,520
Speaker 2: That's the reality, and some of those numbers are much

631
00:29:41,560 --> 00:29:42,840
Speaker 2: bet higher for people.

632
00:29:42,560 --> 00:29:44,760
Speaker 9: They're just putting off a lot because they have this debt.

633
00:29:44,840 --> 00:29:47,360
Speaker 9: So you're graduating college you're earning an income. You can't

634
00:29:47,400 --> 00:29:49,760
Speaker 9: move out, you can't move forward in life because you

635
00:29:49,800 --> 00:29:51,880
Speaker 9: have this, and then you have you know, parents who

636
00:29:51,920 --> 00:29:55,040
Speaker 9: take on debt take on more debt typically than the child,

637
00:29:55,280 --> 00:29:56,640
Speaker 9: and they're delaying their retirement.

638
00:29:57,560 --> 00:30:00,320
Speaker 4: So another question here about five twenty nine because I

639
00:30:00,320 --> 00:30:03,000
Speaker 4: think there's a lot of misconceptions and misperceptions about it too.

640
00:30:03,080 --> 00:30:05,840
Speaker 4: It's a lot more flexible than people realize. I mean,

641
00:30:05,880 --> 00:30:07,880
Speaker 4: Tom can use it for his grandchildren too.

642
00:30:07,960 --> 00:30:10,680
Speaker 9: You absolutely can. And another difference between a Trump account

643
00:30:10,680 --> 00:30:12,000
Speaker 9: of a five to twenty nine a Trump account has

644
00:30:12,000 --> 00:30:14,120
Speaker 9: to be opened by a parent or a guardian. Five

645
00:30:14,200 --> 00:30:16,280
Speaker 9: twenty nine account. Anyone can open the account.

646
00:30:16,280 --> 00:30:17,560
Speaker 4: I can open one to more if I wanted to

647
00:30:17,560 --> 00:30:18,480
Speaker 4: go back to school.

648
00:30:18,280 --> 00:30:19,800
Speaker 9: Yes, and you can open one for my kids if

649
00:30:19,840 --> 00:30:22,160
Speaker 9: you'd like. So, I mean, look, I think it's a

650
00:30:22,160 --> 00:30:24,880
Speaker 9: lot of flexibility. And again, I think the misconception is

651
00:30:24,880 --> 00:30:27,320
Speaker 9: that it's only for two and four year institutions. It's

652
00:30:27,440 --> 00:30:28,000
Speaker 9: much wider.

653
00:30:28,040 --> 00:30:29,760
Speaker 1: Now.

654
00:30:29,880 --> 00:30:32,840
Speaker 2: I just believe that Tricia Scarlotta has a statistic how

655
00:30:32,880 --> 00:30:34,440
Speaker 2: many people pay full boat.

656
00:30:35,720 --> 00:30:39,560
Speaker 9: It's about forty ish percent, probably one hundred percent of

657
00:30:39,560 --> 00:30:40,080
Speaker 9: our audience.

658
00:30:40,320 --> 00:30:43,280
Speaker 2: Yes, because you know, you look at the FAFSA, and

659
00:30:43,320 --> 00:30:46,520
Speaker 2: you go, you're kidding me, And so then there you are.

660
00:30:46,920 --> 00:30:48,600
Speaker 2: And if a kid can't put the puck in the

661
00:30:48,640 --> 00:30:52,520
Speaker 2: net when you were full boat at Cornell for hockey, right.

662
00:30:52,520 --> 00:30:53,720
Speaker 1: Oh, clearly, clearly.

663
00:30:54,200 --> 00:30:56,280
Speaker 3: But if he's put the puck in the net, it's

664
00:30:56,400 --> 00:30:56,880
Speaker 3: full boat.

665
00:30:57,040 --> 00:30:59,080
Speaker 9: It's full boat, it really is. And a lot of

666
00:30:59,120 --> 00:31:01,440
Speaker 9: these schools they you know, you get you get schools

667
00:31:01,440 --> 00:31:05,080
Speaker 9: like Villanova, Boston College. They don't need to give any

668
00:31:05,120 --> 00:31:07,479
Speaker 9: money because there are so many people lined up that

669
00:31:07,520 --> 00:31:10,200
Speaker 9: want to go there. So the University of Michigan, you know,

670
00:31:10,520 --> 00:31:12,400
Speaker 9: all those schools, they don't need to give them.

671
00:31:12,520 --> 00:31:14,440
Speaker 3: We just want to go to Villanova because of Jalen.

672
00:31:14,920 --> 00:31:16,080
Speaker 3: I mean, there's the reason.

673
00:31:16,200 --> 00:31:18,120
Speaker 9: Day Yeah, I mean, you know I wanted to go

674
00:31:18,200 --> 00:31:19,840
Speaker 9: to Villanova too, I didn't I want what's.

675
00:31:19,680 --> 00:31:21,800
Speaker 2: The number one question you get on a road working

676
00:31:21,800 --> 00:31:24,480
Speaker 2: for JP Morgan? What's the number one question in seminar as.

677
00:31:24,400 --> 00:31:27,320
Speaker 9: You get interesting? Now, it's about the roth Ira. Everyone

678
00:31:27,320 --> 00:31:29,600
Speaker 9: asks about the roth Ira. So people don't save enough

679
00:31:29,600 --> 00:31:31,240
Speaker 9: and invest enough in a five to twenty nine account,

680
00:31:31,240 --> 00:31:32,800
Speaker 9: but they're always so worried that I'm going to have

681
00:31:32,840 --> 00:31:35,560
Speaker 9: too much money in the account. Why is that that

682
00:31:35,680 --> 00:31:38,040
Speaker 9: is the biggest fear. I'm going to have too much money.

683
00:31:38,120 --> 00:31:40,120
Speaker 9: Yet I don't put enough money away, but I'm worried

684
00:31:40,160 --> 00:31:42,120
Speaker 9: I'm going to have too much. Then one of my options,

685
00:31:42,120 --> 00:31:45,360
Speaker 9: so now it's it really has helped us having the

686
00:31:45,360 --> 00:31:48,560
Speaker 9: flexibility of the roth Ira rollover, so that that this

687
00:31:48,720 --> 00:31:51,560
Speaker 9: year is the biggest question is Okay, I'm going to

688
00:31:51,640 --> 00:31:54,080
Speaker 9: if I'm overfunded, what can I do? And a great

689
00:31:54,160 --> 00:31:56,360
Speaker 9: people feel much better that they could do the rollover.

690
00:31:56,480 --> 00:31:59,120
Speaker 4: It just speaks again to the misperceptions and misconceptions out

691
00:31:59,120 --> 00:31:59,840
Speaker 4: there about all of this.

692
00:32:00,040 --> 00:32:01,680
Speaker 9: People are so afraid that they're going to put this

693
00:32:01,720 --> 00:32:03,640
Speaker 9: money away and the kid's not going to go to school.

694
00:32:03,680 --> 00:32:05,840
Speaker 9: Reality is seventy percent of kids go to school. And

695
00:32:05,920 --> 00:32:07,680
Speaker 9: like you said, it's not just for It's not just

696
00:32:07,760 --> 00:32:11,360
Speaker 9: two and four year institutions. You can vocation apprenticeship in economics.

697
00:32:12,080 --> 00:32:13,600
Speaker 9: You can go to a park twenty nine for you.

698
00:32:14,360 --> 00:32:15,360
Speaker 3: I need a five twenty.

699
00:32:15,760 --> 00:32:17,960
Speaker 2: The biggest problem there is a five twenty nine used

700
00:32:17,960 --> 00:32:21,680
Speaker 2: to be terribly restrictive. Right Fossils like me don't realize

701
00:32:21,720 --> 00:32:23,320
Speaker 2: how constructive it is.

702
00:32:23,280 --> 00:32:27,000
Speaker 9: Now correct And when you think about a qualified withdrawal,

703
00:32:27,040 --> 00:32:29,920
Speaker 9: I always use this as an example. Every child's qualified

704
00:32:29,920 --> 00:32:31,800
Speaker 9: withdrawal is going to be different. I have a child

705
00:32:31,840 --> 00:32:34,840
Speaker 9: who's a musician going for music. A qualified withdrawal for

706
00:32:34,920 --> 00:32:37,760
Speaker 9: him is the pedals for his equipment is the production

707
00:32:37,880 --> 00:32:40,080
Speaker 9: because he's a music major. But then if I got

708
00:32:40,120 --> 00:32:43,400
Speaker 9: an econ major, I can't use as a qualified withdrawal

709
00:32:43,400 --> 00:32:45,800
Speaker 9: a guitar. But it is going to be what that

710
00:32:46,000 --> 00:32:50,360
Speaker 9: child needs to get the degree is a qualified withdrawal.

711
00:32:50,800 --> 00:32:53,720
Speaker 9: It could be books for sure, it could be computer.

712
00:32:53,840 --> 00:32:56,880
Speaker 9: It's equipment, So think it's very expansive.

713
00:32:57,080 --> 00:33:01,320
Speaker 2: Your child needs the even tied H nine need a

714
00:33:01,360 --> 00:33:03,920
Speaker 2: new H nine pedal, it's exquisite.

715
00:33:04,520 --> 00:33:07,520
Speaker 9: You've had my Conrad on. We go to Mike all

716
00:33:07,520 --> 00:33:09,920
Speaker 9: the time. He's an incredible guitarist and he taels us

717
00:33:09,920 --> 00:33:10,640
Speaker 9: what he doesn't need.

718
00:33:11,360 --> 00:33:13,160
Speaker 1: Jisha, thank you so much for joining us today.

719
00:33:13,240 --> 00:33:13,719
Speaker 9: My pleasure.

720
00:33:13,720 --> 00:33:16,280
Speaker 4: Here's just scar a lot of JP Morgan Asset Management

721
00:33:16,400 --> 00:33:19,160
Speaker 4: coming up on Bloomberg Money, the money, the man, the

722
00:33:19,280 --> 00:33:22,080
Speaker 4: muse why people are digging deep into their pockets and

723
00:33:22,120 --> 00:33:24,800
Speaker 4: splashing the cash to see the odyssey.

724
00:33:25,360 --> 00:33:26,720
Speaker 1: You're going to go this weekend, right.

725
00:33:26,880 --> 00:33:29,080
Speaker 2: I'm not going this weekend, but I got to admit

726
00:33:29,240 --> 00:33:30,840
Speaker 2: across a cross section of people.

727
00:33:30,960 --> 00:33:33,400
Speaker 4: What a huge was I loved it and I wasn't

728
00:33:33,440 --> 00:33:37,200
Speaker 4: expecting to love it. This is Bloomberg Money, but Robert

729
00:33:37,240 --> 00:33:39,400
Speaker 4: Pattinson speaking an American accent, that was odd.

730
00:33:39,480 --> 00:33:39,800
Speaker 3: I'm not.

731
00:33:47,800 --> 00:33:50,960
Speaker 2: You're listening to Bloomberg Money. Stay with us with more

732
00:33:50,960 --> 00:33:52,120
Speaker 2: to come after this.

733
00:33:54,520 --> 00:33:57,280
Speaker 4: Bloomberg Money is your destination for personal finance is a

734
00:33:57,320 --> 00:34:00,600
Speaker 4: cross platform effort that extends beyond your TV, including our

735
00:34:00,640 --> 00:34:04,400
Speaker 4: new digital hub at Bloomberg dot Com, Slash Money and tom.

736
00:34:04,440 --> 00:34:04,840
Speaker 1: One of the.

737
00:34:04,840 --> 00:34:07,479
Speaker 4: Highlights this week is about the odyssey the movie got

738
00:34:07,600 --> 00:34:09,640
Speaker 4: to be and how some people are spending thousands of

739
00:34:09,640 --> 00:34:12,520
Speaker 4: dollars to watch it in It's full Imax Blender amazing.

740
00:34:12,560 --> 00:34:15,120
Speaker 2: I mean, I know IMAX from long, long ago, but

741
00:34:15,239 --> 00:34:17,719
Speaker 2: people say this is the IMAX and you have to

742
00:34:17,719 --> 00:34:18,040
Speaker 2: see it.

743
00:34:18,239 --> 00:34:20,040
Speaker 4: Well, this was the first movie that was built with

744
00:34:20,239 --> 00:34:22,840
Speaker 4: IMAX in mind. So joining us now to discuss as

745
00:34:22,880 --> 00:34:26,200
Speaker 4: Bloomberg Money reporter Sarah Foster and Sarah you guys went

746
00:34:26,239 --> 00:34:27,839
Speaker 4: out and talked to a whole bunch of people who

747
00:34:28,040 --> 00:34:30,719
Speaker 4: like figured this out a year ago and booked their

748
00:34:30,760 --> 00:34:33,640
Speaker 4: tickets in advance to see this on Imax.

749
00:34:33,920 --> 00:34:37,000
Speaker 5: My colleagues Michelle and Ponza, Michael Barkley. They really tracked

750
00:34:37,040 --> 00:34:40,960
Speaker 5: down some big spenders here. Some people were willing to

751
00:34:40,960 --> 00:34:44,200
Speaker 5: spend five hundred dollars travel cross country to see this,

752
00:34:44,640 --> 00:34:48,479
Speaker 5: as Chris Nolan intended. Others were even telling stories about

753
00:34:48,480 --> 00:34:50,839
Speaker 5: how they were staying up all night, you know, going

754
00:34:50,840 --> 00:34:54,080
Speaker 5: twenty four hours without sleep. What this really shows me

755
00:34:54,280 --> 00:34:57,279
Speaker 5: is that when you have these big cultural events like this,

756
00:34:57,480 --> 00:35:01,439
Speaker 5: young people in particular really are down to spend big

757
00:35:01,480 --> 00:35:02,640
Speaker 5: and to just be in the moment.

758
00:35:02,760 --> 00:35:05,080
Speaker 2: It's just kind of it's about this experiential thing. I mean,

759
00:35:05,160 --> 00:35:07,200
Speaker 2: which angels to get. I mean, it's it's beyond me.

760
00:35:07,280 --> 00:35:09,480
Speaker 2: But the answer is people like FIFA, like.

761
00:35:09,440 --> 00:35:11,280
Speaker 1: The World Cup, or like meet Together.

762
00:35:11,400 --> 00:35:13,400
Speaker 3: They like being together. They want to spend some money

763
00:35:13,440 --> 00:35:13,839
Speaker 3: to do it.

764
00:35:13,880 --> 00:35:15,439
Speaker 4: Right right, and they want to be able to hear

765
00:35:15,480 --> 00:35:18,359
Speaker 4: the waves crashing in the movie again and it's full.

766
00:35:18,400 --> 00:35:21,239
Speaker 4: I'm explunder because it's loud. It's like a spectacle.

767
00:35:21,520 --> 00:35:24,040
Speaker 5: I think there's even something to be said about this

768
00:35:24,480 --> 00:35:28,080
Speaker 5: new version of luxury. You know, only twenty five theaters

769
00:35:28,120 --> 00:35:30,600
Speaker 5: in the US can show it the way krisnal And intended,

770
00:35:30,640 --> 00:35:32,120
Speaker 5: only forty one worldwide.

771
00:35:32,480 --> 00:35:34,720
Speaker 9: You know, it's almost a three hour runtime.

772
00:35:34,320 --> 00:35:35,800
Speaker 3: For a movie. Is it three hours?

773
00:35:35,840 --> 00:35:37,640
Speaker 1: You could be there and see it, you know you want?

774
00:35:37,760 --> 00:35:39,960
Speaker 2: So when you saw Scarlet, was it were you dragon here?

775
00:35:40,000 --> 00:35:42,200
Speaker 2: Where you're like, you know? Two hours thirty mins?

776
00:35:42,239 --> 00:35:44,000
Speaker 1: That was a little skeptical. I went in there. I

777
00:35:44,000 --> 00:35:46,240
Speaker 1: had to have a drink beforehand because I was like, I'm.

778
00:35:46,160 --> 00:35:50,080
Speaker 2: Shut, okay, can you make a banner please? Food at

779
00:35:50,200 --> 00:35:52,239
Speaker 2: the Odyssey had to have a beverage of her chore.

780
00:35:52,280 --> 00:35:53,759
Speaker 4: I had to have a drink ahead of time. But

781
00:35:54,000 --> 00:35:56,080
Speaker 4: I sat there through the whole thing and it was great.

782
00:35:56,320 --> 00:35:58,520
Speaker 3: Our books for the week. This is a joy and

783
00:35:58,560 --> 00:35:59,200
Speaker 3: an honor.

784
00:35:59,400 --> 00:36:01,680
Speaker 2: You go toge if you're ever so lucky, you have

785
00:36:01,719 --> 00:36:05,560
Speaker 2: a professor that can get it done. Barry Strauss is

786
00:36:05,719 --> 00:36:09,200
Speaker 2: definitive at Cornell and you had him in class. What

787
00:36:09,320 --> 00:36:12,360
Speaker 2: is it like to have the giant Barry Strauss lecturing

788
00:36:12,360 --> 00:36:13,439
Speaker 2: you on the Trojan War?

789
00:36:13,640 --> 00:36:13,799
Speaker 10: You know?

790
00:36:13,920 --> 00:36:16,520
Speaker 4: It was pretty cool because I did not know about

791
00:36:16,600 --> 00:36:19,120
Speaker 4: him beforehand. I took a class with him and another

792
00:36:19,160 --> 00:36:22,040
Speaker 4: professor where they compared the Korean War and the Peloponnesian War.

793
00:36:22,440 --> 00:36:25,560
Speaker 4: So it was like this cross historical analysis. It was

794
00:36:25,640 --> 00:36:28,520
Speaker 4: really really interesting. And then you pick that book, so

795
00:36:28,719 --> 00:36:29,120
Speaker 4: I know you can.

796
00:36:29,320 --> 00:36:30,880
Speaker 2: I picked it out of the blue, but folks, I

797
00:36:30,920 --> 00:36:32,600
Speaker 2: can't say enough about it. If you want to learn

798
00:36:32,640 --> 00:36:36,000
Speaker 2: about this beyond Matt Damon's good looks, the answer is

799
00:36:36,080 --> 00:36:38,800
Speaker 2: Professor Strauss of Cornell owns eye.

800
00:36:38,640 --> 00:36:41,960
Speaker 4: Ground absolutely and his book separates reality from myth. Right

801
00:36:42,040 --> 00:36:44,719
Speaker 4: Helen of Troy was a catalyst myth reality. It is

802
00:36:44,760 --> 00:36:48,080
Speaker 4: about control of shipping routes in the agenc which Matt

803
00:36:48,120 --> 00:36:50,160
Speaker 4: Damon actually says to Anne Hathaway in the movie. They

804
00:36:50,200 --> 00:36:52,319
Speaker 4: kind of whisper it, but it's there. So I just

805
00:36:52,320 --> 00:36:55,080
Speaker 4: gave you a spoiler. Your book is tied to the

806
00:36:55,120 --> 00:36:57,960
Speaker 4: Odyssey and to Homer. My book of the Week is

807
00:36:58,080 --> 00:37:03,000
Speaker 4: about Homer Wibson and his family and the people who

808
00:37:03,040 --> 00:37:04,920
Speaker 4: created the show and wrote for the show, like co

809
00:37:04,920 --> 00:37:07,680
Speaker 4: Conan O'Brien. It's called stupid TV. Be more funny how

810
00:37:07,719 --> 00:37:11,040
Speaker 4: the golden era of the Simpsons changed television in America forever.

811
00:37:11,080 --> 00:37:11,920
Speaker 1: Are you a Simpsons fan?

812
00:37:12,239 --> 00:37:14,040
Speaker 5: I am a Simpsons fan. It's hard not to be.

813
00:37:14,239 --> 00:37:16,520
Speaker 3: It's amazing how people are or they're not.

814
00:37:17,120 --> 00:37:17,520
Speaker 9: Are you not?

815
00:37:18,080 --> 00:37:21,080
Speaker 3: No, I'm a huge fan. Okay fan, I think the craft.

816
00:37:22,280 --> 00:37:24,600
Speaker 2: I could go on all day about this, but you know,

817
00:37:24,680 --> 00:37:27,520
Speaker 2: I mean, I think it's it's interesting. I was looking

818
00:37:27,600 --> 00:37:30,120
Speaker 2: up Homer and they thought on AI, they thought I

819
00:37:30,160 --> 00:37:31,399
Speaker 2: wanted Homer Simpsons, and.

820
00:37:31,360 --> 00:37:33,960
Speaker 1: They would be right. That's what I picked. Who's your

821
00:37:33,960 --> 00:37:35,160
Speaker 1: favorite Simpson's character.

822
00:37:37,239 --> 00:37:39,600
Speaker 2: You could go all day about it. I think I

823
00:37:39,680 --> 00:37:42,520
Speaker 2: like the soccer ones. We do the football ones on

824
00:37:42,680 --> 00:37:46,279
Speaker 2: the soccer I mean, it's great, and I think you

825
00:37:46,280 --> 00:37:48,280
Speaker 2: could do both. Frankie the heart of as it matters.

826
00:37:48,320 --> 00:37:50,640
Speaker 2: You can do Homer Simpson and Homer from a few

827
00:37:50,719 --> 00:37:52,399
Speaker 2: years ago with Odyssey as well.

828
00:37:52,400 --> 00:37:54,920
Speaker 4: Homer Simpson is most people's favorite character. Mine is kind

829
00:37:54,920 --> 00:37:57,240
Speaker 4: of a tangangial because it's a world building exercise.

830
00:37:57,280 --> 00:37:57,880
Speaker 1: The Simpsons.

831
00:37:58,040 --> 00:38:02,480
Speaker 4: I liked Patty and Selma, Marge's older sisters or the DMV. Yeah,

832
00:38:02,520 --> 00:38:07,840
Speaker 4: and there they are at Orlando Universal. The expression is priceless.

833
00:38:07,880 --> 00:38:08,440
Speaker 1: Tom.

834
00:38:08,840 --> 00:38:12,440
Speaker 2: They look like we're in the Bloomberg money planning meeting Tuesday.

835
00:38:12,960 --> 00:38:15,279
Speaker 2: That's what That's what it looks like.

836
00:38:15,800 --> 00:38:18,919
Speaker 1: Sara, do you have a favorite Simpsons character? Definitely Lisa Oh.

837
00:38:19,160 --> 00:38:22,319
Speaker 1: I identify with Lisa. She's ahead of her time, very

838
00:38:22,360 --> 00:38:22,960
Speaker 1: similar to her.

839
00:38:24,400 --> 00:38:27,120
Speaker 4: Lisa, by the way, predicted that Donald Trump would become

840
00:38:27,160 --> 00:38:29,359
Speaker 4: president toward the Simpsons did overall, so you know, there's

841
00:38:29,360 --> 00:38:31,720
Speaker 4: a lot of true telling in the Simpsons. Sarah Foster,

842
00:38:31,760 --> 00:38:34,640
Speaker 4: Thank you, nank you, Bloomberg Money reporter Sarah Foster. For

843
00:38:34,640 --> 00:38:37,440
Speaker 4: the latest reviews and recommendations from Bloomberg. Subscribe to the

844
00:38:37,520 --> 00:38:38,840
Speaker 4: on Books newsletter.

845
00:38:42,600 --> 00:38:45,960
Speaker 2: Welcome back to Celebrity Loadstone. It's sound Kay with Scarlet Fruit.

846
00:38:46,000 --> 00:38:48,440
Speaker 2: We've been talking about some of the people that like

847
00:38:48,560 --> 00:38:51,200
Speaker 2: to listen to us on the radio, Scarlett in the

848
00:38:51,239 --> 00:38:54,719
Speaker 2: Morning and myself as well, and of course here on television,

849
00:38:54,800 --> 00:38:57,799
Speaker 2: and it's just sort of like humbling, like they want

850
00:38:57,840 --> 00:39:01,799
Speaker 2: to know about economics, finance, sort of finance and also

851
00:39:01,880 --> 00:39:02,760
Speaker 2: wealth management.

852
00:39:02,800 --> 00:39:04,880
Speaker 4: It's a lot of people are emailing you out of

853
00:39:04,920 --> 00:39:08,720
Speaker 4: the blue who like I that's great.

854
00:39:08,800 --> 00:39:11,719
Speaker 2: One day, I'm at JFK and I'm by the luggage

855
00:39:11,760 --> 00:39:15,040
Speaker 2: wrap next to this girl and everyone's looking at me,

856
00:39:15,280 --> 00:39:17,120
Speaker 2: and then they figured out that weren't looking at me.

857
00:39:17,600 --> 00:39:20,520
Speaker 2: I'm standing where this this woman and everybody's like, you know, da,

858
00:39:20,560 --> 00:39:20,960
Speaker 2: da da da.

859
00:39:21,040 --> 00:39:23,360
Speaker 3: It's Emily Blunt. And I was the only one in

860
00:39:23,360 --> 00:39:24,920
Speaker 3: the terminal who didn't know who she was.

861
00:39:25,120 --> 00:39:28,719
Speaker 4: My gosh, all right, well there you go. Maybe I'll

862
00:39:28,719 --> 00:39:30,920
Speaker 4: see Emily Blunt this weekend. Maybe you'll see you know,

863
00:39:31,000 --> 00:39:31,960
Speaker 4: another celebrity like.

864
00:39:31,920 --> 00:39:32,680
Speaker 1: That game this weekend.

865
00:39:32,760 --> 00:39:35,000
Speaker 4: Let's look ahead to the weekend and to next week.

866
00:39:35,000 --> 00:39:38,960
Speaker 4: Bloomberg This Weekend's Lisa Mitteil joined this out in studio.

867
00:39:39,280 --> 00:39:40,239
Speaker 1: What do you have your eye on?

868
00:39:40,400 --> 00:39:43,120
Speaker 14: Yeah, we're looking at Comic Con. Okay, this is this

869
00:39:43,160 --> 00:39:47,120
Speaker 14: is the nation. Emily there no think she'll be there,

870
00:39:47,280 --> 00:39:49,960
Speaker 14: but some of your favorite maybe at Chris Hemwerck, maybe whoever.

871
00:39:50,280 --> 00:39:51,880
Speaker 1: But you have all these folks.

872
00:39:51,920 --> 00:39:54,760
Speaker 14: Okay, so we're not just talking comics, right, we're talking TV.

873
00:39:54,920 --> 00:39:55,920
Speaker 9: We're talking gaming.

874
00:39:56,000 --> 00:39:58,360
Speaker 14: Gaming is huge for these You have all these people

875
00:39:58,440 --> 00:40:01,120
Speaker 14: dressed up. Cosplays a chorus, big thing for it. So

876
00:40:01,160 --> 00:40:03,720
Speaker 14: they're coming out and they're going to this. It started

877
00:40:03,880 --> 00:40:06,720
Speaker 14: yesterday in preview, so the big day is today through Sunday.

878
00:40:06,800 --> 00:40:09,000
Speaker 14: So it's a big thing. Tickets are like, you know,

879
00:40:09,040 --> 00:40:11,120
Speaker 14: about eighty five bucks or so. But the thing is

880
00:40:11,120 --> 00:40:13,319
Speaker 14: they sell out. So now on the secondary market, they're

881
00:40:13,320 --> 00:40:16,040
Speaker 14: going away from five hundred to like a thousand secondary market,

882
00:40:16,480 --> 00:40:19,879
Speaker 14: so it's it's a big problem, but it's also good

883
00:40:19,920 --> 00:40:22,000
Speaker 14: for for downtown San Diego. They're going to get a

884
00:40:22,000 --> 00:40:24,520
Speaker 14: big boost economic their people going to restaurants everywhere for

885
00:40:24,560 --> 00:40:25,840
Speaker 14: the parties in the area.

886
00:40:25,960 --> 00:40:27,560
Speaker 1: Did you say John Cena was going to be there?

887
00:40:28,080 --> 00:40:28,840
Speaker 1: I heard, I.

888
00:40:29,320 --> 00:40:32,080
Speaker 2: Heard thank you, though I hear we saw the list

889
00:40:32,160 --> 00:40:35,000
Speaker 2: of San Diego. It's a it's a it's a big thing.

890
00:40:35,040 --> 00:40:37,279
Speaker 2: I mean, San Diego is the biggest one, right, it is.

891
00:40:37,280 --> 00:40:37,839
Speaker 1: The biggest one.

892
00:40:37,960 --> 00:40:39,680
Speaker 14: I've been to the New York one. I've covered it

893
00:40:39,719 --> 00:40:41,640
Speaker 14: a number of times. There may may not have been

894
00:40:41,640 --> 00:40:45,959
Speaker 14: a Wonder Woman costume involved. It is a good time

895
00:40:46,040 --> 00:40:48,320
Speaker 14: and it's good to see, not just it's not just kids,

896
00:40:48,320 --> 00:40:49,719
Speaker 14: it's the adults.

897
00:40:49,200 --> 00:40:50,040
Speaker 1: Who come out to it.

898
00:40:50,160 --> 00:40:51,360
Speaker 14: So it's it's a good time.

899
00:40:51,200 --> 00:40:54,680
Speaker 2: For We just talked about education on the show Bloomberg Money,

900
00:40:54,719 --> 00:40:57,319
Speaker 2: and I know, Lisa, you've been through the gauntlet of

901
00:40:57,480 --> 00:40:59,400
Speaker 2: education here in the last twelve months. What was the

902
00:40:59,440 --> 00:41:03,759
Speaker 2: biggest prize getting a chairub on the path to college?

903
00:41:03,840 --> 00:41:06,000
Speaker 14: I think the biggest surprise was just how much it

904
00:41:06,080 --> 00:41:08,359
Speaker 14: was going to cost. I mean, the cost of it

905
00:41:08,400 --> 00:41:12,120
Speaker 14: was ridiculous, and looking at the number of scholarships, like

906
00:41:12,200 --> 00:41:14,799
Speaker 14: doing all the research into that and then finding, you know,

907
00:41:14,880 --> 00:41:17,240
Speaker 14: having to talk with your kid like here's the reality,

908
00:41:17,239 --> 00:41:19,960
Speaker 14: here's where you want to go here's where we can go.

909
00:41:20,120 --> 00:41:22,600
Speaker 14: And I think that is the toughest conversation, but it

910
00:41:22,680 --> 00:41:24,560
Speaker 14: has to be had. Yeah, most definitely.

911
00:41:24,680 --> 00:41:26,759
Speaker 4: All right, we also have earnings, and I know we've

912
00:41:26,760 --> 00:41:28,840
Speaker 4: talked a lot about the hyperscaler results, but there's a

913
00:41:28,840 --> 00:41:30,480
Speaker 4: bunch of companies that are going to tell us how

914
00:41:30,480 --> 00:41:31,600
Speaker 4: the consumer's.

915
00:41:31,120 --> 00:41:32,560
Speaker 14: Doing, of course, and that's why we want to look

916
00:41:32,600 --> 00:41:34,640
Speaker 14: to the consumer ones, because the big list would be

917
00:41:34,719 --> 00:41:36,120
Speaker 14: too much to get into it. So if you start

918
00:41:36,160 --> 00:41:38,480
Speaker 14: with Tuesday, we start with Coca Cola and then we

919
00:41:38,520 --> 00:41:40,400
Speaker 14: go to Visa, So that's for Tuesday. If we go

920
00:41:40,440 --> 00:41:43,040
Speaker 14: to Wednesday, Procter and Gamble, we have Microsoft and Meta

921
00:41:43,040 --> 00:41:47,840
Speaker 14: as well. Thursday we have MasterCard, Apple, Amazon, Friday, Colgate, Palmolive,

922
00:41:47,920 --> 00:41:48,840
Speaker 14: Chevron and Exceon.

923
00:41:48,920 --> 00:41:50,520
Speaker 1: So two big going Oh, Chevron and Exon.

924
00:41:50,520 --> 00:41:52,680
Speaker 4: They're raking it in right now. With oil prices the

925
00:41:52,719 --> 00:41:53,400
Speaker 4: way they've been.

926
00:41:53,640 --> 00:41:57,360
Speaker 2: They got to be in refinery products as well. To me, actually,

927
00:41:57,640 --> 00:42:00,960
Speaker 2: inside Baseball, the theme here this week of refining your

928
00:42:01,000 --> 00:42:02,920
Speaker 2: products up as a story for next week.

929
00:42:03,080 --> 00:42:05,560
Speaker 4: Well, we well, I mean especially with words.

930
00:42:05,200 --> 00:42:06,560
Speaker 3: Bloomberg money up and number ers.

931
00:42:06,960 --> 00:42:09,560
Speaker 4: No, it's actually squarely in the heart of Bloomberg money

932
00:42:09,640 --> 00:42:11,719
Speaker 4: from the oil prices where they are, Lisa, thank you

933
00:42:11,760 --> 00:42:15,040
Speaker 4: so much, Lisa Mateo of course on Bloomberg this weekend,

934
00:42:15,080 --> 00:42:18,320
Speaker 4: every Saturday and Sunday morning, starting at seven am Eastern Time.

935
00:42:18,680 --> 00:42:24,160
Speaker 1: That does it for Bloomberg Money. This is Bloomberg. We'll

936
00:42:24,160 --> 00:42:27,800
Speaker 1: get a tr choice. Yeah, I cred thought that you

937
00:42:27,840 --> 00:42:28,120
Speaker 1: how to have.

938
00:42:30,719 --> 00:42:34,400
Speaker 2: This is the Bloomberg Money podcast, bringing you a smart

939
00:42:34,400 --> 00:42:37,640
Speaker 2: look at the forces shaping your financial life.

940
00:42:37,840 --> 00:42:39,880
Speaker 3: I'm Tom Keen with Scarlet Food.

941
00:42:40,320 --> 00:42:43,360
Speaker 2: You can watch the show live on Bloomberg TV every

942
00:42:43,360 --> 00:42:47,280
Speaker 2: Friday at noon Wall Street Time. Subscribe to the podcast

943
00:42:47,320 --> 00:42:51,840
Speaker 2: on Apple, Spotify or wherever you listen, and as always,

944
00:42:51,920 --> 00:42:55,040
Speaker 2: on the Bloomberg Terminal and the Bloomberg Business app.