WEBVTT - Single Best Idea with Tom Keene: Constance Hunter & Wendy Schiller

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>Single best Idea on a September eleventh, Thank to our

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<v Speaker 2>team with three four major news stories here across Drive

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<v Speaker 2>Time America. Thank you for the comments on Apple CarPlay,

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<v Speaker 2>Android Auto on all of our stations in the corridor,

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<v Speaker 2>the East Coast, Washington ninety ninety one FM and our

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<v Speaker 2>flagship station Bloomberg eleven three to zero AM in New

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<v Speaker 2>York City. On this day, just stunning to see the

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<v Speaker 2>leadership of the nation in this presidential election lined up

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<v Speaker 2>at the Memorial in New York City, to see Vice

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<v Speaker 2>President Harrison, former President Trump shake hands, and to see

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<v Speaker 2>those in attendants, including former Mayor Michael Bloomberg, you know,

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<v Speaker 2>sponsoring all that I do, and also to see former

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<v Speaker 2>Mayor Giuliani. There was memorable as well. On the economic front,

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<v Speaker 2>there was an inflation item. Liz Young had a wonderful

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<v Speaker 2>tweet out that eighty seven percent of the rise in

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<v Speaker 2>inflation had to do a shelter. I was stunned by

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<v Speaker 2>that number. Thing. Liz, got to get you back on

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<v Speaker 2>here soon. That's just just stunning. Here's Constance Hunter of

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<v Speaker 2>EIU talking about our service sector inflation.

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<v Speaker 1>What I think is so interesting if we look around

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<v Speaker 1>the world, the stickiness of services inflation is global, and

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<v Speaker 1>so what is that about? That is about the bounce

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<v Speaker 1>back from the pandemic, and so therefore, you know, we

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<v Speaker 1>think about what is that that stickiness is because people

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<v Speaker 1>didn't participate in goods and service in services activities and

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<v Speaker 1>now they're bringing that forward, whether we're talking about travel out, concerts,

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<v Speaker 1>medical services, and so we see this everywhere from from

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<v Speaker 1>Chile to Europe to the US. It's a global phenomenon

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<v Speaker 1>and that is that is the long tail of the

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<v Speaker 1>pandemic still working its way through the inflation statistic.

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<v Speaker 2>Conscience Hunter too short a conversation today with the Newslow,

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<v Speaker 2>but we thank her for her attendance. The format era

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<v Speaker 2>at Bloomberg of Matt Winkler, the founder of Bloomberg News,

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<v Speaker 2>and codified again by John michaels Waite, our editor in

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<v Speaker 2>chief is we don't give opinions, So I'm going to

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<v Speaker 2>tread lightly here off of the debate last night. And

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<v Speaker 2>you know, my opinion on Harris Trump Trump Harris doesn't matter,

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<v Speaker 2>but I do want to say that the discussion alluded

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<v Speaker 2>to and directly by both parties a terriff economics I

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<v Speaker 2>can't find in a textbook bonus round. We have experience

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<v Speaker 2>with the tariffs in the nineteenth century and certainly within

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<v Speaker 2>what's called blockism, bloc blockism of the nineteen twenties and

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<v Speaker 2>into the dreadful nineteen thirties. Nobody knows this politically, Like

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<v Speaker 2>the professor from Brown University, Wendy Schiller, on a debate

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<v Speaker 2>and tariffs, it's really.

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<v Speaker 3>Important to bring back Smooth Hauley as an example of

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<v Speaker 3>what not to do to exacerbate any kind of economic condition,

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<v Speaker 3>because what really sent us into a depression was that

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<v Speaker 3>bill and that you know, it is always much more

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<v Speaker 3>expensive for the American consumer for tariffs, you know, eighteen nineties,

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<v Speaker 3>nineteen thirties, you know, and it cost us billions of

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<v Speaker 3>dollars when Trump had these tariffs in place, in subsidies

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<v Speaker 3>to farmers to pay them for lost product sales in China.

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<v Speaker 3>So you know, it is a dangerous tool I believe

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<v Speaker 3>to use sort of as a political or diplomatic weapon

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<v Speaker 3>against a country because it backfires on the United States.

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<v Speaker 3>And tell Myras was okay on that, but you know,

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<v Speaker 3>a little bit not much wiggle room since Biden has

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<v Speaker 3>kept these tariffs in place for the most part.

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<v Speaker 2>One day, Shiller on a bipartisan effort to raise t

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<v Speaker 2>tarriffs on Apple podcasts. It is single best I do