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Speaker 2: Shabana Versacci is with Bloomberg Television all of our media
Speaker 2: worldwide to say that she is someone doing Horizons, doing
Speaker 2: Daybreak Middle East. She is definitive on her Middle East,
Speaker 2: and as Robert D. Kaplan talks about from Morocco to Persia,
Speaker 2: we are honored that she would join us this morning
Speaker 2: from her Dubai Jubani. I think the war coverage, particularly
Speaker 2: over the weekend is almost wrote almost cursory in the
Speaker 2: United States. Let us start with the airports. Do you
Speaker 2: have an airport in Dubai by the you have another
Speaker 2: airport towards Abu Dhabi being built out as well. The
Speaker 2: distance maybe it's a forty fifty minute drive to the two.
Speaker 2: What is a state of tension at the Dubai airports
Speaker 2: this morning?
Speaker 3: Hi Tomboll, good morning, Good to be on your show.
Speaker 3: Let me just run you through what happened specifically with
Speaker 3: Dubai International Airport DXP. That is the main one that's
Speaker 3: operational right now. It was hit in the early hours
Speaker 3: of the morning. A fuel depot exploded into flames. Later on,
Speaker 3: the Dubai Media Office came out to say that it
Speaker 3: caused limited damage and no injuries. But for a while
Speaker 3: the Dubai Civil Aviation Authority moved to suspend flights temporarily.
Speaker 3: They have resumed now, a lot of them have resumed.
Speaker 3: Many flights were canceled that the state owned airline Emirates
Speaker 3: has resumed travel now. But I think what you're referring
Speaker 3: to is the fact that some of those flights were
Speaker 3: redirected to a new air that's being built, as you say,
Speaker 3: around forty five minutes away Dubai Mactoom. But again, you know,
Speaker 3: this is just part of parts of the bigger picture here,
Speaker 3: which is that Iran continues to strike not necessarily US
Speaker 3: assets in the region, but key transportation on the dist
Speaker 3: six hubs.
Speaker 2: What is the tension in Dubai, I think within the
Speaker 2: media coverage in America, do we don't know the tension
Speaker 2: in Kuwait? We don't know the tension in Cutter across
Speaker 2: the United Arab Emirates. What is the tension in Dubai
Speaker 2: or is it just a random missile that may come in.
Speaker 3: Let me tell you that UAE alone have received two
Speaker 3: thirds of the projectiles that Iran have fired over so
Speaker 3: more than any other Gulf nation. They have successfully intercepted
Speaker 3: around one thousand, six hundred drones around three hundred missiles.
Speaker 3: The interception rates is anything between ninety two percent and
Speaker 3: ninety four percent, depending on whether you're talking about drones
Speaker 3: or missiles. So the interception rate is very high. But
Speaker 3: that's not to say that some debris or interceptions of
Speaker 3: debris is causing a damage to some Skyrise buildings, as
Speaker 3: you may have seen reports of that. But increasingly, I
Speaker 3: would say what has happened in the last twenty four
Speaker 3: to forty eight hours is Iran seem to be targeting
Speaker 3: a lot more strategic assets in the region that aren't
Speaker 3: necessarily linked to US bases or US control centers. And
Speaker 3: this I think is perhaps marks a new chapter in
Speaker 3: this war, because they have attempted to strike at the
Speaker 3: Fugeaport a couple of times of the course of this weekend,
Speaker 3: a key strategic port not on the Strait. I should
Speaker 3: also remind viewers this is a port that is on
Speaker 3: the Gulf of Aman, a key outlet to get UAE
Speaker 3: oil out of the region. The fact that they keep
Speaker 3: going after it suggests that not only is Iran focusing
Speaker 3: on that one choke point around the Strait of Hormas,
Speaker 3: but there also begins to target some of the key
Speaker 3: ports around the Arabian Gulf and the Gulf of Aman
Speaker 3: as well.
Speaker 4: Jumana.
Speaker 5: The Strait of Humus is clearly one of the areas
Speaker 5: of focus here. President Trump has asked other nations to
Speaker 5: help secure the passage through the Strait of Hormus. What
Speaker 5: do we know about any responses from any of our allies.
Speaker 2: I guess.
Speaker 3: That's right. So that was the main us overnight. He's
Speaker 3: calling on what he says around seven nations to join
Speaker 3: in on this coalition to help secure the safe passage
Speaker 3: of vessels through the straits, including the likes of UK
Speaker 3: and France, obviously NATO allies. In an FT interview, he
Speaker 3: hinted that there would be diplomatic repercussions if the NATO
Speaker 3: allies did not join in on these efforts. He's also
Speaker 3: suggested that South Korea Japan join in we've heard from
Speaker 3: the Japanese Minister of Defense overnight. He said that the
Speaker 3: threshold for them to get involved is super high. And
Speaker 3: then the big one is China. Of course, the lion's
Speaker 3: share of the oil that's transported through the strait ends
Speaker 3: up in China's hands. From an economic perspective, of course,
Speaker 3: they have a prerogative to ensure the safe passage of vessels,
Speaker 3: but they so far have not put out any official
Speaker 3: commentary suggesting that they're willing to sign up to this.
Speaker 2: Jaman One final question here into your busy afternoon and
Speaker 2: into the evening in Dubai. Are the Arab nations together
Speaker 2: in a you know, ancient view against Persia or is
Speaker 2: it every tribe for themselves.
Speaker 3: Well, let me just point you to a call that
Speaker 3: took place between the Saudi Crown Princes Royal Highness MBS
Speaker 3: with the President of the UEE MBZ. And you know,
Speaker 3: for anyone who's been following the news in the region,
Speaker 3: even before this war erupted, there had started to be
Speaker 3: some more regional friction between the UAE and Saudi Arabia
Speaker 3: over there differing objectives around the war in Yemen, also
Speaker 3: in Sudan, as well, what we see in since the
Speaker 3: inception of this war is a reproshment of sorts, and
Speaker 3: what you are getting are these United Communicats from GCC
Speaker 3: foreign ministers, more and more of these calls taking place,
Speaker 3: all of them at condemning the attacks, the Iranian attacks,
Speaker 3: and in fact going so far as calling them terrorist
Speaker 3: attacks in their territory, also reiterating the right to self defense.
Speaker 3: But none of them, and I should say, have gone
Speaker 3: so far as to suggest that they would get militarily
Speaker 3: involved in this war. For the time being, they're just
Speaker 3: emphasizing their right to self preservation and to self defense.
Speaker 3: And then of course later on down the track they're
Speaker 3: going to have to do maybe a little bit of
Speaker 3: soul searching about the types of strategic alliances that they have.
Speaker 2: A terrific brief, Thank you so much. Giovanni Briscacci is
Speaker 2: shoes of course, driving all of our Middle East coverage
Speaker 2: with Bloomberg Horizon out of Dubai. Stay with us. More
Speaker 2: from Bloomberg Surveillance coming up after this.
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Speaker 2: We agree with true Excellence and hydrocarbons at an LC
Speaker 2: operational research. Julian Lee is definitive with Bloomberg News and oil.
Speaker 2: What's the story Julian right now? In oil that's not visible?
Speaker 6: I think what's not visible at the moment is exports
Speaker 6: out of the Persian Gulf. What we're seeing is a
Speaker 6: near total closure of the straight offor moves. Yes, there've
Speaker 6: been a couple of small Indian oil tankers going through
Speaker 6: over the weekend. They were likely carrying liquefied petroleum gases,
Speaker 6: which are popular as a cooking fuel in India. One
Speaker 6: thing I think that's interesting about those vessels is that
Speaker 6: they took a much more northerly passage through Hormus than
Speaker 6: is usual, much closer to the Iranian coast, outside of
Speaker 6: the normal shipping lanes. They could mean a number of things.
Speaker 6: I mean it could mean that those shipping lanes have
Speaker 6: been mined, as the Uranians would like us to believe.
Speaker 6: It could simply mean that the Uranians want to keep
Speaker 6: a better eye on what's going through Hormos. Most of
Speaker 6: the rest of what's gone through is either Iranian owned
Speaker 6: or linked to China, but that the movements to Hormus
Speaker 6: are very very small.
Speaker 2: Paint the window in Singapore, the Straits of Malacca of
Speaker 2: the transformation of oil to naphtha, naphtha to ethylene in
Speaker 2: ethylene into all the plastics and petrochemicals that are out there.
Speaker 2: That sequence of what we do with oil is that
Speaker 2: shattered as well.
Speaker 6: I think it's certainly coming under strain. You know, this
Speaker 6: is perhaps the other side of the oil market that
Speaker 6: we don't appreciate quite so much. We're very used to
Speaker 6: crude oil going into refineries being turned into gasoline and
Speaker 6: diesel fuel and jet fuel and heating oil. The other
Speaker 6: side of that, on the side where all the sort
Speaker 6: of longer term growth is is in feedstocks for plastics,
Speaker 6: but that is perhaps less the sort of base load
Speaker 6: coming out of the Middle East. A lot of that
Speaker 6: is heavier crude that tends to go into refineries for
Speaker 6: processing into fuels. But at some point this is going
Speaker 6: to pinch perhaps, And you know, the big problem I
Speaker 6: think at the moment is just that the amount of
Speaker 6: oil that has been prevented from coming out of the
Speaker 6: Persian Gulf is bigger than the amount that can be
Speaker 6: divert elsewhere by Saudi Arabia, the United Arab Emirates, and
Speaker 6: to some extent to Rock Julian Lee.
Speaker 2: Please stay with us right now. We've got to get
Speaker 2: to the market open, and we're going to come back
Speaker 2: with doctor Lee in London, of course, expert on all
Speaker 2: that we see here in hydrocarbons. And we do that
Speaker 2: with oil under one oh two barely one oh one
Speaker 2: point ninety three, generally signaling what we see in the
Speaker 2: equity markets, with futures up sixty one previcts under twenty
Speaker 2: five earlier. A better take on a Monday morning with
Speaker 2: our market opening, Alexis.
Speaker 7: Christophorus, Thanks so much, Tom, And we had a nice
Speaker 7: rally for stock futures heading into this Monday morning opening
Speaker 7: bell and it looks like it's dipping over into regular trading.
Speaker 7: S and P five hundred up now about sixty points
Speaker 7: at sixty six ninety one. Dow Jones industrial leverage right
Speaker 7: out of the gate, up three hundred and seventy seven
Speaker 7: points level at forty six nine fifty four. NASDA composite
Speaker 7: climbing two hundred twenty eight points now twenty two thousand
Speaker 7: and three twenty nine. The Russell two thousand coming along
Speaker 7: for the ride, up now thirty three points. We do
Speaker 7: have oil pulling back a bit. Brent is at one
Speaker 7: oh one ninety the barrel, WTI crewed ninety four to
Speaker 7: seventy one the barrel. We've also got precious medals mixed
Speaker 7: spot gold now at fifty twenty two the ounce, and
Speaker 7: bitcoin at seventy three nine hundred and sixteen dollars. Early
Speaker 7: movers shares of Nebius up thirteen and a half percent
Speaker 7: after Facebook parent Meta said it's going to pay up
Speaker 7: to twenty seven billion dollars over the next five years
Speaker 7: for access to AI infrastructure from the Neo Cloud company.
Speaker 7: That's your Bloomberg opening bell report, Tom and Paul Alexis.
Speaker 2: Thank you so much. I appreciate it. Right now around
Speaker 2: the world, across this nation, it is Bloomberg surveillance. Paul
Speaker 2: Sweeney with Julian Lee at Queenten Victoria Street.
Speaker 4: Julian, just for argument's sake, let's assume they were ended today.
Speaker 5: Where would Brent be, would Brent get back to its
Speaker 5: pre war levels and over what time frame might that occur?
Speaker 6: Well, you know, fortunately I'm not in the business of
Speaker 6: price forecasting any longer. I gave that up twelve years
Speaker 6: ago and when I came to Bloomberg, so I you know,
Speaker 6: I can't give you a forecast. If you look at
Speaker 6: the market fundamentals, if you get the flow through hor
Speaker 6: moves normalized, the market was relatively weak. There's nothing significant
Speaker 6: that has changed in the supply demand dynamics other than
Speaker 6: the closure of hor Moos. We haven't had significant damage
Speaker 6: to oil production installations in the Middle East or in Iran, thankfully,
Speaker 6: so you know, the supply side in time would get
Speaker 6: back to where it was. But I think that would
Speaker 6: take time. I mean, it's it's not a matter of
Speaker 6: simply turning on a tap and everything's back to normal.
Speaker 6: There's there's all sorts of logistics that have to be
Speaker 6: sorted out. And if we look at right at what's
Speaker 6: happening now, Saudi Arabia has said it will divert crude
Speaker 6: to the Red Sea. It has a pipeline that has
Speaker 6: the capacity to take seven million barrels a day. The
Speaker 6: CEO of Saudi Aramco said last Tuesday that they were
Speaker 6: ramping up to that capacity. But that's a seven hundred
Speaker 6: and fifty mile pipeline. Oil doesn't move very fast through pipelines.
Speaker 6: I mean, you know, perhaps not much faster than a
Speaker 6: decent runner can run. So that means it could take
Speaker 6: anywhere from you know, four to ten days for an
Speaker 6: additional input into that pipeline to turn up in increased
Speaker 6: volumes coming out at the other end. So that's the
Speaker 6: sort of logistical disruption or the sort of time frames
Speaker 6: that we're looking at just to make that switch from
Speaker 6: east to west. Putting the whole thing back together would
Speaker 6: perhaps take even longer.
Speaker 2: Julian Ly, thank you so much in London, writing for
Speaker 2: Bloomberg News. Stay with us more from Bloomberg Surveillance coming
Speaker 2: up after this.
Speaker 1: You're listening to the Bloomberg Surveillance podcast. Catch us live
Speaker 1: weekday afternoons from seven to ten am Eastern. Listen on Apple,
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Speaker 2: Tricia Scarlatta joins us a diverse get out the calendar
Speaker 2: Paul March College admissions. If you're not early decision or
Speaker 2: whatever the other eight kinds of decision are. Tricia Scarlatta
Speaker 2: has the worst worst job at JP Morgan has Jamie
Speaker 2: Diamond ever called you up and said, how about that
Speaker 2: tuition I'm paying?
Speaker 8: Jamie has not, but I've had have other senior executives
Speaker 8: who have called me for some advice.
Speaker 2: For sure, for someone Jamie Okay, Jasuine Lee kills it
Speaker 2: in the Wall Street Journal this week and the four
Speaker 2: zillion East Coast brats going to Saint Andrews. They go
Speaker 2: out on the pier walk there with their red robes
Speaker 2: and all that give us an update on the insanity
Speaker 2: of the college process. As you see it at JP Markets.
Speaker 8: The process is insanity. And I love that you mentioned
Speaker 8: the international schools because they are certainly more cost effective.
Speaker 8: And as I mentioned earlier, I had a nephew that
Speaker 8: went to Saint Andrews and did tremendously well. You know,
Speaker 8: I wish I could tell you that I thought costs
Speaker 8: were coming down. They are not coming down. They historically
Speaker 8: have never come down. They are up five to seven
Speaker 8: percent every year. Even during COVID, costs continued to go up,
Speaker 8: So I don't see that changing. I think what we
Speaker 8: need to make sure we tell families is they need
Speaker 8: to start early and do it as often as they can.
Speaker 8: Make those contributions. You know, look The reality is we're
Speaker 8: getting less international students come to the US. Right those
Speaker 8: were the people paying the full vote because they didn't
Speaker 8: get aid. We also just have less kids, so that
Speaker 8: means less tuition being paid. These schools have created institutions
Speaker 8: that are so expensive because they have so many programs.
Speaker 8: When we went to college, there weren't two hundred three
Speaker 8: hundred programs. They have to pay for that. They've got
Speaker 8: to generate revenue, so the costs are not going to
Speaker 8: come down, and unfortunately there's just not enough free money
Speaker 8: to go around.
Speaker 5: And having sat on a university board, I'll tell you
Speaker 5: right now, cut your costs by fifty percent.
Speaker 4: Start there. Then come talk to your students and the families.
Speaker 4: But they won't do that. Now talk to just about
Speaker 4: five twenty nine plans? What are they? How do they
Speaker 4: help parents?
Speaker 8: Very very simple. The best thing about a five to
Speaker 8: twenty nine account is the fact that you can actually
Speaker 8: save on taxes. So you're going to take your after
Speaker 8: tax dollars, make a contribution into a five to twenty
Speaker 8: nine plan, and that's going to grow tax deferred over
Speaker 8: the lifetime of the account till you start making those withdrawals.
Speaker 8: And there are tons of qualified draw withdraws that you
Speaker 8: can make, and as long as it's qualified, there are
Speaker 8: no taxes to be happening.
Speaker 2: Use a five twenty nine not enough?
Speaker 8: So about forty percent now, so we're you're and if
Speaker 8: you look at it, about fifty percent of Americans don't
Speaker 8: even know what a five to twenty nine account is.
Speaker 7: Can I just interject, because.
Speaker 2: We're wonderful, here's the rule days. You just butt in.
Speaker 2: You don't ask the politenesses out here, ladies and johnman
Speaker 2: the rules.
Speaker 7: I love the fact that you can roll over a
Speaker 7: five twenty like, let's say, yeah, since my kids don't
Speaker 7: use all the money in there, which fat chance, Yeah
Speaker 7: I can. I can send it to my grandkids.
Speaker 8: Absolutely, Look, everybody worries they're going to overfund these accounts.
Speaker 8: Trust me, you are not going to overfund. We just
Speaker 8: all talked about it. You're not overfunding. The average account
Speaker 8: size is somewhere in the forty to fifty thousand dollars range.
Speaker 8: Families are not oversaving. But yes, you can change beneficiaries.
Speaker 8: There's so much flexibility in these accounts. And we just
Speaker 8: did a survey on LinkedIn. What's your biggest reason why
Speaker 8: you're not opening a five to twenty nine account, And
Speaker 8: the biggest reason was because we don't think it's flexible.
Speaker 8: You've got tons of flexibility now you are. So if
Speaker 8: you have too much money, you can roll over to
Speaker 8: a roth Ira up to thirty five thousand dollars. There's
Speaker 8: so much flexibility in terms of the withdrawals. It's not
Speaker 8: just college anymore. It's K through twelve, it's credentialing, it's tutoring.
Speaker 8: It continuously expands. Yes, can you use.
Speaker 2: Five twenty nine for SAYT prep?
Speaker 8: Yep, you can. You can think about all the money
Speaker 8: we spend as parents on SAT prep exactly.
Speaker 4: How about just aid? A lot of schools offer a
Speaker 4: lot of aid.
Speaker 5: If you know where to look for it, you bet
Speaker 5: talk to us about how that factors into the equation.
Speaker 8: Listen, I adore the families that have the conversation and
Speaker 8: say we can't pay ninety thousand dollars a year. There
Speaker 8: are tons of state institutions that are wonderful that you
Speaker 8: could pay in state tuition. There are also things called
Speaker 8: a safety a safety school. So if you're somebody who
Speaker 8: because of your income level, which is probably somewhere around
Speaker 8: two hundred plus you're not really going to get anything.
Speaker 8: It's probably a little bit lower than that. The key
Speaker 8: is to be to be applying to safeties because that
Speaker 8: school will give you money off the top because you're
Speaker 8: still more attractive than somebody getting financially Okay, just.
Speaker 2: As a decide, she mentioned full Bote. I saw full
Speaker 2: Boat play at the Cave at Durham is a great band.
Speaker 2: The fact of the matter is there's all this media
Speaker 2: blather about schools giving out tons of scholarships. Anybody who
Speaker 2: makes over fourteen thousand a year gets to go see
Speaker 2: and all sort. What I hear from our listeners and
Speaker 2: viewers is at the travesty, we're all paying full tuition,
Speaker 2: room and board. What percentage of people that in your
Speaker 2: research are paying.
Speaker 8: Full bote about about forty percent, forty to fifty percent. Yeah,
Speaker 8: what's the good percentage? Now that number is going to
Speaker 8: come down again because our international students are going to
Speaker 8: come down. International students coming up just because of the
Speaker 8: whole thing with people coming into the country, so I'll.
Speaker 4: Feel comfortable coming that is correct.
Speaker 2: When does this end? I mean I mentioned today at
Speaker 2: some point Marlborough cigarettes became too expensive. I don't know
Speaker 2: we at a point where this just becomes too expensive.
Speaker 4: I don't know.
Speaker 8: I mean I have not seen it. If we look
Speaker 8: at history, history has not shown it at all. And
Speaker 8: we're looking at now. So eighteen years from now you
Speaker 8: want to send three kids to college. I mean it's
Speaker 8: you know, you're looking at millions.
Speaker 2: Have you ever had two pages in Jamie Diamond's annual
Speaker 2: report letter? You deserve that?
Speaker 4: Oh well, thank you.
Speaker 2: I appreciate that you'll work on that.
Speaker 7: It's a crisis.
Speaker 8: It for sure is a crisis. It is the family's
Speaker 8: biggest expense.
Speaker 2: Within the Vatican. I mean you can get two pages
Speaker 2: in or two paragraphs in to his work. I appreciate
Speaker 2: that this has been great. Don't be a stranger. Tricia
Speaker 2: Scarlatti here full vote for Alexis Christopherus and everybody else.
Speaker 2: That's what she's going to ring out of education savings
Speaker 2: at JP Morgan Asset Management. Stay with us. More from
Speaker 2: Bloomberg Surveillance coming up after this.
Speaker 1: You're listening to the Bloomberg Surveillance podcast. Catch us live
Speaker 1: weekday afternoons from seven to ten am, or live on YouTube.
Speaker 2: Giving us a lighter touch, Miss Pistopherus, what.
Speaker 7: Do you have this morning, I went, I went digging,
Speaker 7: and I found this one in the Wall Street Journal
Speaker 7: that says, when it comes to income tax red and
Speaker 7: blue states, they're growing further up.
Speaker 2: So that yeah, don't choices little charts.
Speaker 7: Yeah, it was, it's actually quite there's a love, lovely
Speaker 7: visual with this. So Republican led states are looking to
Speaker 7: entice new residents with lower taxes. Democratic led states are
Speaker 7: looking to hire taxes on top earners because they need
Speaker 7: to plug those budget gaps and also to fund social services.
Speaker 7: So in just the past five year, okay, twenty three
Speaker 7: states have lowered their top income tax income tax rates,
Speaker 7: Mississippi and Oklahoma looking to eliminate it all together. And then,
Speaker 7: of course here in New York City, we've also got
Speaker 7: Washington State looking to raise income taxes on high income households.
Speaker 7: And here's another. I mean, I just looked at this stat.
Speaker 7: I think this says it all. According to the Tax Foundation,
Speaker 7: the middle ground is quickly disappearing. Twenty years ago, fifteen
Speaker 7: states had top income tax rates on wage income below
Speaker 7: five percent, and just one exceeded ten percent. Today, more
Speaker 7: than half of the states have gone below five percent
Speaker 7: over the week, and.
Speaker 2: The guy I can't pronounce it runs uber dearra. I
Speaker 2: just can't. Yep, Yeah, I can't. I gave up. Okay,
Speaker 2: you know Mark Crumpton yelled at me Dari's movement. He's
Speaker 2: moving in California some point.
Speaker 7: That's right, another executive.
Speaker 2: You just see it.
Speaker 7: You're fleeing from Seattle from California, and they're actually thinking
Speaker 7: New York is a haven. I mean that's telling you something.
Speaker 2: Why is New York a haven? I think that would
Speaker 2: be surprised to people at Bloomberg eleven three yo.
Speaker 7: Yeah, well, because I think relative to where income tax
Speaker 7: can go. When the states of Seattle in California looks.
Speaker 2: Like and we turn to a gentleman from Seattle, yeah,
Speaker 2: and he said, it's tangible.
Speaker 5: I mean, if you take there's state taxes down that,
Speaker 5: that's great, But how do you plug that hole? So
Speaker 5: if you're in Mississippi, where does I guess you just
Speaker 5: lose that revenue and there's less money for schools and social
Speaker 5: services and stuff like that.
Speaker 4: I don't know.
Speaker 2: It don't help.
Speaker 7: I don't know how they've thought it out.
Speaker 4: Asta has all different types of things that can take.
Speaker 2: You know it.
Speaker 7: It's definitely on the ballot in the midterm elections, that's
Speaker 7: for sure.
Speaker 4: Yep, all right, you had another one, of course I do.
Speaker 7: This is from the New York Times. Some Olympic officials
Speaker 7: want to have the Winter Games played in fixed cities,
Speaker 7: so no more, you know, I mean it's not this
Speaker 7: is just a proposal right now, but fewer cities are
Speaker 7: actually bidding for the Olympics because they can't accommodate every event.
Speaker 7: You just look at the Milan Games. So we have
Speaker 7: them in Courtina as well. It was sprawled out, spanning
Speaker 7: eighty five hundred square miles. It did work though, Yeah,
Speaker 7: but you know a lot of the they spend so
Speaker 7: much on the infrastructure and then they sit, you know,
Speaker 7: weeds grow in between, like the ski slide, you know,
Speaker 7: years later.
Speaker 5: So also an issue about the snow. Not every pay
Speaker 5: place that has historically hosted Winter Olympics. I feel like
Speaker 5: they can do it reliably with this lack of st
Speaker 5: But with.
Speaker 2: Snow, do they look at it as a one off
Speaker 2: year or is it is one off?
Speaker 5: It was a one off year that so they say,
Speaker 5: And you know, but we were up there twelve thirteen
Speaker 5: thousand feet snow is great.
Speaker 3: I don't know.
Speaker 6: One more?
Speaker 2: What do you do?
Speaker 3: All right?
Speaker 7: Oh, this one made me so happy.
Speaker 2: Tulips.
Speaker 7: Have you seen tulips? I saw on Park Avenue. I
Speaker 7: can see they want to come up and they're so
Speaker 7: confused that it's not warmer yet. But this year, for
Speaker 7: the first time ever, on the National Mall in DC,
Speaker 7: this was from the Washington Post, people were able to
Speaker 7: come out. They got free tickets, over twelve thousand people
Speaker 7: to come and pick ten tulips and make a little
Speaker 7: bouquet for themselves. This is sort of reminiscent of what
Speaker 7: like you see happening in Amsterdam and Berlin because they
Speaker 7: have big tulip celebrations. This was the first one on
Speaker 7: the National Mall in DC, and it was a big hit. Apparently.
Speaker 4: All right, those free tickets, what like that? Did they know? Okay,
Speaker 4: what's the Washington Mall. That's the cherry blossoms.
Speaker 7: Yes, the cherry blossoms. So now they have another thing. Okay, well,
Speaker 7: the cherry blossoms are happening. They're going to be happening.
Speaker 7: That haven't happened yet.
Speaker 2: Can I editorialize please? I love the tulip bulbs on
Speaker 2: Park Avenue. Yes, that's what they do. Is just building
Speaker 2: up the charity there. The government services except Park Avenues
Speaker 2: become Third Avenue because they ruined Third Avenue in the
Speaker 2: last six months, all most some of the traffic on
Speaker 2: Third Avenue Park Avenue for a whole bunch of blocks.
Speaker 2: Now every day is bumper to bumper yep.
Speaker 7: But at least you still don't have the stores on
Speaker 7: Park right, they're free of like the commerce and the
Speaker 7: way that Third Avenue is used to be.
Speaker 2: You know, that's the way it was, Alexis Christopher's thank
Speaker 2: you so much the newspapers.
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