Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the.
Speaker 2: Single best idea and really want to speak about subscribing
Speaker 2: to Bloomberg podcasts. Search Bloomberg Podcasts on YouTube to search
Speaker 2: Bloomberg Surveillance, but all of our other product over the
Speaker 2: weekend out of Apple Podcasts, extraordinary political coverage today. We'll
Speaker 2: get to that in a moment, but I just really
Speaker 2: can't emphasize enough the eclecticism away from what I'm doing
Speaker 2: every day here at Bloomberg News and across all of
Speaker 2: our audio and video product. It's just been an exhausting
Speaker 2: and extraordinary twenty four hours. Last night, seven pm ish,
Speaker 2: I did a quick call with the various people that
Speaker 2: tell me what to do, and I said, there's only
Speaker 2: one name I really want to talk to, and he's
Speaker 2: a prosecut and lo and behold, Eric hit the ball
Speaker 2: out of the park and we were able to line
Speaker 2: up someone it's tough to get and for those of
Speaker 2: you of a certain age, you will remember the name
Speaker 2: Leon Jeworski. Nick Ackerman was an assistant to Leon Jeworski
Speaker 2: at Watergate. He comes out of U mass Amherston, Harvard.
Speaker 2: He's absolutely definitive, literally the stereotype of the grizzled prosecutor,
Speaker 2: and he's hugely popular within the media because there's no flamboyancy.
Speaker 2: There's none of this modern theatric stuff. It's literally what
Speaker 2: Perry Mason tried to be fifty sixty years ago. It's
Speaker 2: just straightforward discussion. I was thunderstruck at Nick Ackerman's comments
Speaker 2: this morning.
Speaker 3: Let's listen based on at least the fact that Michael
Speaker 3: Cohen served three years for these violations, and that Alan Weiselberg,
Speaker 3: the CFO of Trump Org, who is instrumental in setting
Speaker 3: up the phony corporate records on this and the payments
Speaker 3: that went out to reimburse Michael Cohen. He's already served
Speaker 3: three months in Rikers Island for unrelated matters and now
Speaker 3: he's serving three months another three months in Rikers Island
Speaker 3: for Lyne. And I think the judge is going to
Speaker 3: have to consider that here are two people that were
Speaker 3: instrumental in this crime that did serve jail time, and
Speaker 3: I find it hard to believe that he is not
Speaker 3: going to feel compelled to give Donald Trump at least
Speaker 3: some jail time.
Speaker 2: Is it something creative and different or is it Are
Speaker 2: you telling me the former president of the United States
Speaker 2: could enjoy a month at Rikers Island.
Speaker 3: Yeah, absolutely. I mean I think what they'd have to
Speaker 3: do was create a presidential suite at Rikers Island because
Speaker 3: the Secret Service has to be there with him. Obviously,
Speaker 3: I think there is a very strong likelihood that he
Speaker 3: is going to be sentenced to imprison them. Will he
Speaker 3: be protected from other prisoners. I'll just be as direct
Speaker 3: about it as I can. Absolutely, I don't see how
Speaker 3: anyway he can be put into the general population.
Speaker 2: Nick Ackerman, and I can say, in multiple decades of
Speaker 2: doing this, that is one of the most extraordinary seven
Speaker 2: minute conversations I've ever ever heard. Thanks to Joe Matthew
Speaker 2: and Balance of Power for helping us deliver mister Ackerman
Speaker 2: to you. I'm Bloomberg surveillance. So there was economic data
Speaker 2: today as well, key inflation data, at least for the FED.
Speaker 2: Jason Furman was along from Harvard University's Slice and Dy said,
Speaker 2: I love Professor Furman's ecumenical inflation analysis, taking twenty four
Speaker 2: data points from I believe it's eight series, I can't remember,
Speaker 2: and he's got a fancy grid out there. You pass
Speaker 2: fail for X ten and you know where I am
Speaker 2: on that matrix. But Jason Furman, with an ecumenical CPI
Speaker 2: market economists in the trenches have to react to this
Speaker 2: very quickly. Here is Neil Dutta of Renaissance Macro on
Speaker 2: the economic data this morning.
Speaker 4: When economics you have often different ways of measuring the
Speaker 4: same kind of concept. You have cp GDI, you have
Speaker 4: PC and CPI, and the PCE number it just covers them.
Speaker 4: It has a much wider scope, right. That's why unlike
Speaker 4: CPI forty percent is not shelter, right, I mean, because
Speaker 4: they have it has a much wider scope. But also
Speaker 4: it looks at things covering payments made on behalf of
Speaker 4: an individual. I mean CPI only looks it out of
Speaker 4: pocket expenses. So I think one way of thinking about
Speaker 4: it is CPI kind of reflects what people think they
Speaker 4: spend their money on, and the PC data reflects what
Speaker 4: people accreate their money on. And I think that's one
Speaker 4: of the reasons why that looking at pcee.
Speaker 2: Neil Dudda there on the inflation report, the summary of it,
Speaker 2: I mean, in the blur of all we did this morning,
Speaker 2: I've got to admit I'm pretty much off target on it.
Speaker 2: Other than to say there was a negative statistic for
Speaker 2: inflation adjusted spending. That does get my attention. Some of
Speaker 2: the voices we spoke to said, well, that's just one
Speaker 2: data point and we'll have to see. But some very
Speaker 2: good charts out today. I think it was Neil Dudda
Speaker 2: Renmack that put up a chart showing the continued disinflation
Speaker 2: of certain inflation sectors out there. Of course, all of
Speaker 2: it wrapped around real estate as well. The single best
Speaker 2: idea is just a set of conversations, and those conversations
Speaker 2: happen in a blur. I can't begin to describe the
Speaker 2: blur when there's breaking news and important news about trying
Speaker 2: to get you the best voices that are out there.
Speaker 2: I thought we were successful today to stay away from
Speaker 2: punditry and to talk about the future the nation, the
Speaker 2: future of our executive branch, and of course what we'll
Speaker 2: see as we take this one hour exactly before scheduled
Speaker 2: comments from the former President of the United States. We're
Speaker 2: out an android on Apple car Play, look for that
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Speaker 2: to Bloomberg Podcasts. And that's important given just the wall
Speaker 2: of news we're being hit with here in the end
Speaker 2: of May, and on Apple podcasts of course, each day
Speaker 2: we can, we give you single best idea