Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00"I guess the central banks will use AI to help them come up with
00:00:03new frameworks for measuring inflation,
00:00:07but
00:00:07of the more serious problem is how
00:00:10of consumers can budget their own household expenses, if they don't know what the
00:00:14price is going to be between deciding what they need and
00:00:18getting to the supermarket or even going online and seeing that
00:00:22price changing in real time, it becomes exceptionally difficult to
00:00:26manage finances, and for that reason I believe that there will be
00:00:29a clamp down. on AI based personalized
00:00:32pricing right, and we will have to leave it there for now, arthur goldsteck in
00:00:35Johannesburg, thank you very much for speaking to us, thank
00:00:38you, well that's the business news for
00:00:42now, thanks for
00:00:43of watching,
00:00:52a journey across a dynamic
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00:01:28of World.
00:01:32of
00:01:45of We have the best economic numbers of any
00:01:49president in the history of our candidate. Donald Trump is betting the
00:01:52economy will win his party the midterms
00:01:55of next month, but the odds don't look good, especially
00:01:59after the... latest shocking jobs report. The US economy added
00:02:0329,00 jobs in September
00:02:05that was less than expected. The disappointing
00:02:08of report comes a month before Americans head to the polls for mid-term
00:02:11elections. Even worse, near record high gas prices.
00:02:15This truck's fault, this should not be this high. It needs to
00:02:19of end, ridiculous. President Trump though is telling Americans
00:02:22a different story. The poverty
00:02:25a rate of has just reached its lowest
00:02:30in of level. a in American history, the stock market has reached an all-time
00:02:33high every night, night after night, I guys to
00:02:37be crazy, so ladies and gentlemen, the golden age of
00:02:41America is upon
00:02:42of us, so Trump's betting the house literally on the
00:02:46a economy, but which way will Americans call it? No, you can't save now,
00:02:50every dollar you have has to go to gas, groceries, bills,
00:02:53a rent, the
00:02:54of democrats are rubbing their hands, they think the Republicans are
00:02:58a finished,
00:02:58of frankly it's going to be a wipe out. so what I'm going to do is ask
00:03:02you to just pretend that I'm running, because if we do, and if you
00:03:06draw the people, you're going to win, and we're going to win big, well, is the
00:03:09economy a winner or
00:03:14of a not? we'll ask our panel in just moment, but first here's how Trump is scoring himself, greatest tax
00:03:18cuts in history, the best economy in history, more money coming into
00:03:22our country in history, love him aloth him, Trump is a great
00:03:25salesman, but he's got an uphill battle, trying to sell his...
00:03:30economy ahead
00:03:31of of of the of crucial mid-terms to nation still struggling with the
00:03:35cost of living. So far, he's held
00:03:37of rallies in Ohio, Oklahoma, Texas, Alabama, and
00:03:41more are coming, including New York and Nebraska. I love being with
00:03:45you, I really do, I mean
00:03:46of it's it's great, it's incredible, you're incredible people. When President Trump says
00:03:50he's built the best economy ever, he's not making it up,
00:03:54not entirely. By
00:03:55of some measures, his scorecard looks
00:03:58of pretty good. The GDP figures, back Trump up, real GDP
00:04:02rose 2.1% in the second quarter this year
00:04:05compared to the same period last year, far ahead
00:04:08of the UK on 1.4% and the eurozone at
00:04:12just 1.2%. Real GDP strips out
00:04:16inflation, so it's real growth, not just higher
00:04:19prices. More Americans are working today
00:04:23in our
00:04:24of country than any time by far in history.
00:04:28It's true, the number of Americans
00:04:29in work. is a near
00:04:31in record, 163 million people
00:04:34of working just behind Trump's first year, which holds the top spot
00:04:37ever. We're doing better than any country in the world
00:04:40economically. The typical American household is bringing in
00:04:4487,460. That's
00:04:48the highest since records began in 1967.
00:04:52And median is
00:04:53a a good measure because it's right in the middle of all American
00:04:56households, not skewed by a handful of billionaires. and
00:05:00once again it's real, in other words, adjusted for
00:05:03inflation, but
00:05:05a poverty rates
00:05:06of are all at their lowest levels ever recorded, think
00:05:09of that, the official poverty rate is a record low,
00:05:1310.2% in 2025, down from
00:05:1710.7%, and it's the lowest since records began
00:05:21in 1959. the stock market is sored
00:05:24to 81 all-time record highs since the
00:05:27election. again, true, all three major us
00:05:31indices are at or very close to all-time
00:05:34highs. the tech heavy Nazdach is up the most around
00:05:3835% since Trump took office in January
00:05:422020. thanks to soaring AI stocks of
00:05:45course. Inflation is still a sore point at
00:05:493.4%. It's still higher than the Fed's 2%
00:05:52target, but it's still much lower than the peak under Joe
00:05:56Biden when inflation hit 9%.
00:06:00Gas prices to are at record highs right now due to the Iran
00:06:03war, but still lower than the peak under Biden, but
00:06:07the problem for Trump in the midterms is that ordinary people
00:06:10aren't feeling better. off. have you been to the grocery store laty,
00:06:14you'll know what I'm talking about, buse prices are not going down,
00:06:18they're going up. Just one in four Americans approve of Trump's
00:06:22handling the economy, an all-time low for him. And here's the
00:06:26really troubling figure: around two thirds of Americans blame him
00:06:30personally for the high cost of living. Well, let's bring in our
00:06:34guests now, we have Investment Banker and chairman of Republicans
00:06:38overseas Greg Swenson. Republican political
00:06:41commentator, Ang. and the economist and co-founder the
00:06:45center for economic and policy research, dean Baker. Welcome to the
00:06:48program everybody. The first question is, what do you each give
00:06:52Trump in terms of a, b,
00:06:54c, d, what, what score do you give him? Let's start with you,
00:06:57Greg. Yeah, a for sure, Matthew,
00:07:01a plus, even. Oh, my goodness, okay, angie.
00:07:05I give President Trump a b plus, I think he could do lot better in the
00:07:08messaging on the economy. Yep, and Dean.
00:07:13No doubt enough, he was handed very good economy and really took it through the
00:07:17ringer, well no surprises there. Dean, let's let's start with you, and let's get
00:07:21into the specifics, the different metrics that Trump is using to
00:07:24boast. Okay, US economy has grown faster than the
00:07:28United Kingdom and the Eurozone. Uh, what
00:07:31do you make the headline GDP figures? We've been
00:07:35growing faster before he took office, maybe he doesn't know
00:07:38that, but uh, the US economy was called the uh wonder the world. by
00:07:42the economist magazine back in November of 224,
00:07:46so again I don't what World Trump's in, but that that's the real world.
00:07:50Greg, GDP growth for the United States, is that down to Trump,
00:07:54is it down to other things? Well, I think the
00:07:58president's really planning for the long-term, with the reinvestment in
00:08:02the country, deregulation, tax reform,
00:08:05liberation the energy sector, basically rewarding
00:08:09capital formation, so yeah, these things are starting to show already. we're seeing it
00:08:13in manufacturing productivity, we're seeing it in unit labor cos,
00:08:16i don't want to get too technical, but really the the it's about to
00:08:20explode, but it's actually exploded already, the challenge is
00:08:24we had minus 4% wage real wage
00:08:28growth in the biden year, so you might have had GDP growth, but that's
00:08:32because the the administration threw trillions of dollars at an
00:08:36already overheated economy starting in 2021, so that helped
00:08:40GDP growth, but real wages went down for. Dean, just back to you
00:08:43quickly, uh, GDP, GDP,
00:08:45I don't want
00:08:46to play games, real wages were growing one and a half percent year, the last two years
00:08:50the Biden administration, we had pandemic, I know Trump has problems with
00:08:54his memory, but we had a worldwide pandemic that hit the whole world, that was
00:08:58under his first term in office, that created huge problems
00:09:01that Biden had to deal with, he got us out by the end of his
00:09:05administration, real wages were growing very rapidly, they are not now, they're
00:09:09falling, angie wong, how much the GDP growth is down to President
00:09:12Trump setting the scene. Oh, all of it. I think President
00:09:16Trump has done an amazing job over the last two years. Greg is absolutely right, he
00:09:20has been plotting and planning, and now we're starting to see the fruits of his labor.
00:09:24He's completely rejged the energy market. He's brought back
00:09:28manufacturing. Uh, he's reshored pretty much everything. He's doing deals left and
00:09:32right around the world to bring the best practices back to the United
00:09:35States. So he is delivering on the America first economy. The
00:09:39problem is that the messaging is not there. "and it's
00:09:43very difficult to explain the economy to voters, it's just
00:09:47too long-winded, they don't understand necessarily macroeconomics
00:09:50and tariffs and how that trickles down to their savings. so I think President
00:09:54Trump said it best himself just last week that he's doing terrible
00:09:58job at the messaging, but certainly certainly Americans will be
00:10:02benefiting benefiting from his economic policy. So Angy, do you think as
00:10:06correct? come in, first off, in terms of
00:10:09manufacturing, coming back, manufacturing factory." destruction sored
00:10:13under Biden, adjusting for inflation, it more than doubled from
00:10:17pre-pandemic levels, 219 to 224, we've never seen anything
00:10:20like that, now we've seen the reverse under Trump, it's down by a
00:10:24third. just incredible. um, I know he's made a big deal of
00:10:28trade. well, trade deficit was at the second highest levels ever
00:10:32in August, 15 billion. He's going the wrong way. I'm not a trade
00:10:35panic, I'm not going to panic about that, but it's the wrong way by his own
00:10:39measure, so it's very hard to see, and yeah, it's hard to explain
00:10:42to people that gas prices are up 50% from when you took office,
00:10:46diesel prices have nearly doubled. Yeah, it's hard to explain record high beef
00:10:50prices, yeah, I grant, that's hard to explain to people. Well, Dean, just on the
00:10:54gas price. is, I mean, he's saying you, we're at $4.36 a
00:10:57gallon, under Biden, it peaked at $5.2 a
00:11:01gallon. Yeah, I know, Trump has memory
00:11:04problems, it wasn't at over $5 a gallon when he took
00:11:08office, we had pandemic, recovering from the pandemic was a
00:11:11problem, worldwide. I know Trump has a really bad memory,
00:11:15most of us don't, so we saw the gas prices come down to
00:11:19just around $3 a gallon at the point where Biden left office and Trump
00:11:23walked in. Great. quick rebottle and then we're going to get to the poverty
00:11:26rate, so yes, people do have short memories and and perhaps the president
00:11:30does, but but I do think that it's important to understand that the the
00:11:34economy was not as bad in 24 in Biden's last year as it
00:11:38was in 22, but it was still pretty bad, so we're we've
00:11:42recovered one third of that wage loss. Dean, let's just examine the poverty
00:11:46rate claim, he says that the United States has the lowest poverty
00:11:49rate on record, is that just
00:11:51fact? We expect the
00:11:55poverty rate to fall through time, it's kind of like saying the tree in my backyard is
00:11:59taller today than it was last year, trees
00:12:02grow, we're supposed to get richer as a country and yes there's
00:12:06been a modest drop in the poverty rate, there are different measures, i don't want to bore people with the
00:12:09technical thing, so some them actually show it going up, but as a
00:12:13country grows as time pass as it gets richer, you expect poverty
00:12:17rate to fall. that's right, angie, there are different ways of
00:12:21calculating the poverty rate, and another version of it doesn't flatter.
00:12:25Trump's economy at all, but uh, what do you make of
00:12:27it? Yeah, I mean, not only has the Trump
00:12:31administration pulled many Americans out the property rate. They're now moving
00:12:35to helping young Americans, because we're hearing the other side, we're
00:12:39hearing the left, and we understand that there's a real problem with young
00:12:42Americans and getting them into the market. It is really sad
00:12:46that today you can start your very first real paying job and still
00:12:50not be able to afford a house and a car and all your lifestyle, you have to get second
00:12:54job.
00:12:55were throw under and the so we realize that that is issue and President Trump is
00:12:58addressing it, he knows now to not just talk about the stock market and
00:13:02how great it's doing, because a 23-year-old with college
00:13:06debt, maxed out credit cards, can't put gas in his car, he's not going
00:13:10to want to hear about the stock market, so Dean, we have the
00:13:13media, couple
00:13:14just things about the housing market, home ownership rates
00:13:17among young
00:13:19are down well below what Biden
00:13:20they administration
00:13:22and really below what they were most
00:13:23the first
00:13:24Trump administration, we have mor. rates at 7 and a half percent. um, people can't
00:13:27afford homes, that's right, and lot
00:13:29of that's because of trump. dean, let's move to the next economic indicator that we saw in that
00:13:32report, median household income, that has gone up to
00:13:36record high, and as it says in that report, this is a
00:13:40real measure, so it's stripped out for inflation, and uh, it is the
00:13:44median, so it's not skewed by billionaires. this would seem on the
00:13:48face of it, a pretty reliable metric.
00:13:52it is good, and again, this is something that normal time rises year
00:13:56to year and keep in mind what you're looking at is data for 225
00:13:59compared to 224, much that was what happened in 224 when
00:14:03Joe Biden was in the white house, so it's going in the right direction, but lot of that had
00:14:07nothing to do with Trump, so again it's the tree in my yards
00:14:11taller today than it was yesterday. Dean, critics, Trump's critics have
00:14:15said, look, that's all very well and good, but it doesn't really paint the real picture for ordinary
00:14:19Americans because lot more their budget is taken up on things, the
00:14:23essentials like rent. fuel and groceries and
00:14:26that's why they're not really feeling it as much as the headline figure
00:14:30there, well I don't think the headline figures are particularly good to begin
00:14:34with, but yeah um we're seeing an explosion in gas prices, diesel
00:14:38prices
00:14:38all because
00:14:38of Trump,
00:14:39I mean there's no ambiguity there, and then top of that lot of people are losing their
00:14:43healthcare coverage again because of Trump, he's cut back on
00:14:46the the affordable care act president Obama's program, he's thrown people off medicaid,
00:14:50he's thrown people off food stamps, so you have lot of people
00:14:54that are really really... struggling, so they're not willing to feel pressed, Trump's making them
00:14:58feel pressed. Greg, you have lot of experience in the United Kingdom and in the
00:15:02United States, you got one foot in both countries, the median household
00:15:05income is much, much higher in the United States than
00:15:08it is in the United Kingdom, but of course uh, people in
00:15:12Britain don't have to pay so much for things like
00:15:14healthcare, well they do, they just pay through
00:15:18different mechanism because they're taxed to lot higher rates, and as you know the
00:15:21national healthcare uh, the national health system here is... government run,
00:15:25so we prefer the private sector, we Republicans, and again we're
00:15:29seeing repositioning the economy back toward the private sector, I would love
00:15:33to see that in the UK as well. Any, let's move to Wall Street and
00:15:37"the major induses are higher, especially the NASDAC. now some would
00:15:41say that's merely because of a great increase in the value
00:15:45the AI stocks and that it's not actually reflective the broader
00:15:48economy. yeah, and
00:15:51you know what, president Trump has brought a lot of great confidence to investors,
00:15:55and I think that in itself, just having the confidence to invest in
00:15:59US companies, whether it be AI or other industries, that helps
00:16:02investors say, yeah, I think I want
00:16:04to put some money in. Dean, when stocks are up, does that?" the
00:16:08economy broadly is pretty healthy or is it just so skewed
00:16:12now towards the big the major the mag 7 if you like that it doesn't tell us
00:16:15anything. i'm old enough to have lived through two bubbles. um, this looks an
00:16:19awful like both them. we
00:16:21had lot of people were supposed to be really smart. we thought the housing bubble was just
00:16:25great. they put trillions of dollars in subprime mortgage back
00:16:29securities. we're seeing that now. the only question is when does
00:16:33the bubble burst, how bad will it be? we're already seeing lot of it.
00:16:37oracle's deb, the smallest the hyperscalers is now at junk
00:16:41um, you're and we're seeing deteriorations with you,
00:16:44Microsoft, with Amazon, the most profitable companies in the
00:16:47world, you're now seeing credit default spreads increasing about
00:16:5160-80 basis points, the idea that these companies could actually
00:16:55go bankrupt, kind of incredible, so I don't know when it collapses, it
00:16:59would be better if it were tomorrow than you, three months, six months, two years
00:17:03down the road, but it will collapse, greg, it will collapse,
00:17:07there's always that risk and look, housing was up
00:17:105.3% under Biden, it's only up
00:17:123.7% under Trump. We want housing to low, we don't want that
00:17:16growth rate to continue. Um, it's falling too.
00:17:20So, so I think there's there's green shoots in the housing market. We
00:17:23don't want that asset inflation that we saw in the Obama years and the Biden
00:17:27years. When the economy, the real economy was weak, real wages
00:17:31were down, and yet the stock markets were really great. That's
00:17:35just because you pump enough money into the... economy that you'll
00:17:39of course see asset inflation, so if you own stocks, bonds and real estate,
00:17:42you're doing well, if you're a working person, you're not doing well, so that's the difference
00:17:46between the Trump parallel economy, main street and Wall
00:17:50Street versus asset inflation that we had under both
00:17:53Biden uh, Biden and Obama, so so I'm not, I'm
00:17:57not worried too much as long as we could keep that asset inflation down, you're welcome to come
00:18:01in, yeah I just want
00:18:03to point out real wages have been falling the last year, so we're going the wrong way on that one.
00:18:07Last question, they're flat, but they're up, they're up 1.1% under
00:18:11Trump. Adean, I think it was Mark Tane who said, there are, there are lies,
00:18:15damned lies and statistics, and as if to prove it, let's take a look
00:18:19at one the numbers that Trump's putting forward in his favor, um, the there
00:18:23are record number of Americans in work last
00:18:27year, and just slightly less this year, but still close
00:18:31to record high, but isn't that because the population
00:18:34is also at record high? Yeah, exactly, I'm
00:18:38all enough Gerald Ford, I remember during the recession in 75 hit
00:18:42his presidency, he said, more people are working today than ever before, and it was a true statement,
00:18:46because we had rapidly growing population labor force at that point, um, if you
00:18:50look at measures, the percentage the population that's working, that's actually
00:18:54fallen, and it's rather ironic, he's made a big point of his mass
00:18:57deportation, um, the employment rate for native-born
00:19:00Americans is down a full percentage point from when he took office, and you just
00:19:04last question before we wrap up this segment at the beginning the program, "you said that
00:19:08Trump's main failure was his failure in messaging,
00:19:11getting the economy through to the American people. What did you mean by
00:19:15that? Oh, well, he spent the last two years rejigging the
00:19:18American economy to favor Americans, and here we go,
00:19:22he understands that he is billionaire mogal, and to
00:19:26talk to a common American, that's not going to work very well, so he's now
00:19:30had to rejig everything. We what we saw in the White House last week was that he
00:19:34gave a gift to Iowans with an 18 billion." steel
00:19:38plant, then he went over to Alaska with a proposed
00:19:41pipeline to South Korea for 54 billion, but that didn't work
00:19:45either, so
00:19:46he started going to various states like Nebraska and
00:19:49Texas, and every time he does rally there, he brings them a gift,
00:19:53whether it's a manufacturing plant or a diesel price
00:19:57lowering, he always brings them a gift. what I would love to see in the very
00:20:01last days the election, is the visual, the
00:20:04economic visuals that he used to do in the 2024. campaign, I want to see
00:20:08Trump back a garbage truck, I want to see Trump as the employee the month
00:20:12at McDonald's, I want those things to sell on his messaging
00:20:16on how much he's improved American lives, right now, economics,
00:20:20too hard to explain. Ang, Dean Baker and Greg Swinson, thank you all very much
00:20:24for your analysis today, really appreciate that, well, Angy was talking about messaging there,
00:20:28and as she said, nobody knows that he's falling short,
00:20:32better than Donald Trump. I've done a very bad job of
00:20:34explaining how how good the country. is doing, we're
00:20:38doing better than any country in the world economically, we're not getting the word
00:20:42out, I mean, we're just not getting, well republican commentators think the
00:20:45party should spend its massive war chest on countering the
00:20:49democrat. negative version of events, otherwise they
00:20:53warn it will end up like George Bush senior who lost
00:20:57to Bill Clinton in 1992 when the economy was doing all
00:21:00right, but the democrats including James Carville were telling
00:21:04Clinton and Gohr to target Bush's economic record,
00:21:08stay focused, talk about things that are matter to people, you
00:21:12know, it's the economy, stupid, 92, we thought the
00:21:16economy should be the filter through which everything we did went, where I was trying.
00:21:20do was get the campaign more focused, get the people in the campaign more focus, and it was
00:21:24like, it's the economy stupid. Let's bring in someone who was there
00:21:28at the time, economist Arthur Laffer. He was member of
00:21:31Ronald Reagan's economic policy advisory board. Welcome to the program, Mr.
00:21:35Laffer. As I mentioned, number of Republican commentators are
00:21:39saying Trump situation reminds them of what was
00:21:43happening to George Bush senior back in
00:21:4692. What do you think of that? I don't think...
00:21:50Correct, I mean, I think George Bush senior in 1992
00:21:54lost the election because he broke his promise of no new taxes, he broke
00:21:58it, he made that promise to me specifically, and once he broke that
00:22:01promise, his poll numbers tumbled and he lost the election to what turned
00:22:05out to be very good president Bill Clinton, I mean he turned out to be very good,
00:22:09and that's why he did it, and Donald Trump has done just the reverse, he's got a great
00:22:13economy going uh, and it's performing well, and
00:22:17uh, there are other things that are going on besides that, but... 'the economy today
00:22:21is pretty nice, well that's kind of interesting, you you sort of agree with them, but
00:22:25not on that example, you agree that Trump's messaging is actually falling
00:22:29behind his economic performance, I don't, I don't know if
00:22:33his messaging is, I mean there are lots of other things besides economics that
00:22:37causes things to happen, wars in Iran and other
00:22:40places, Ukraine, Russia problem, and there are all sorts of other
00:22:43issues, but from the standpoint the US economy, the economy is
00:22:47performing well, the stock market's great, low unemployment, people are
00:22:51fully employed, we've had good at labor force growth, exceptional, uh,
00:22:55we have new fed chairman who's about the best I've ever seen, so I
00:22:59am really excited about what's going on in the US economy, strictly from the
00:23:03economics standpoint, but politics is much more, much broader
00:23:07than just economics, you're happy with it, but the average American isn't,
00:23:10apparently, apparently, yeah, one in four Americans approve of
00:23:14Trump's handling the economy, that's record low for him, what is, what
00:23:17is acting against his record? "well, I don't, I
00:23:21don't know why they don't like it. I mean,
00:23:24you know, if you look any other country, we're doing better than other countries were doing better
00:23:28than previous administrations. I mean inflation is coming down, yes, of
00:23:31course there are problems and there are lots of problems, but they're not exceptional in
00:23:35this selection. I mean, yes, you have high prices of oil, that's
00:23:39true, but then again, we've removed Iran's capability of
00:23:43distort of having nuclear war, which is probably a good thing
00:23:46to have happened. If you look ahead to the midterms, how..."
00:23:50do you think the economy will will do for the republican
00:23:53party? all I can tell you is that the economy is in fine
00:23:57shape, it really is, and it portends to be in fine shape for a long
00:24:01time to come, so you know, I don't see, I'm not despondent
00:24:05about the economy at all, personally, and I don't think other people
00:24:09should be. I mean, if you want to see bad economies, you can look at bad economies,
00:24:13for example, I don't know if you've watched Britain lately, but it's not doing
00:24:17very well, or some these other countries are just doing.
00:24:20some the terribly canada US relative to Biden is doing much, much better than
00:24:24it had been under Biden, so when I look at this economy, I think it's a fine
00:24:28economy, there are always things wrong here, there and elsewhere, but those are
00:24:32minor compared to the overall economy, which is pretty good, and we're coming
00:24:36towards the end the segment, but if you were in Trump's ear right now, and you've been in the year of
00:24:40many president, um, is there anything he could do to change the
00:24:44conversation between now and early
00:24:46November? I don't know if there's anything you can do. now to
00:24:50change the conversation, but
00:24:52you know, I've always believed in low tax rates, broad tax
00:24:55basis, spending restraints, sound money, minimal regulations,
00:24:59free trade, and all of those, if you put them together, you will have
00:25:03very prosperous and good economy, and that's what I think Trump should talk
00:25:07about, and that's what primarily he is talking about, he's got some other
00:25:11stuff in there like, I don't know what it all, Trump accounts and this that and the
00:25:15other, but uh, on the economy, he's talking about it, and he's right, the
00:25:19economy's doing...
00:25:20Party, very well, and that's what I'd stick to. People, Matthew,
00:25:23people deserve the governments they get, and if they want to elect a
00:25:27different person than Donald Trump and the they'll
00:25:29Republican have to bear
00:25:31the consequences of it, and I can't imagine any incentive structure more
00:25:35serious than that. You're going to have to bear the consequences of what you
00:25:38do. Absolutely. The latest jobs report, the last one before the
00:25:42mid-terms, was actually shockingly low, and the
00:25:46worst for several months, only what, 28, 29,00 jobs.
00:25:51how do you grade that? there are two things there, that was the
00:25:55establishment report, the household report was the biggest increase in
00:25:59jobs ever, we have two jobs reports out. "and the they were
00:26:03completely cadumpuus, they were opposite each other uh, when you look at
00:26:07what's happened to jump employment over the longer period, the last two
00:26:11years, it's been amazing how good the employment growth has been,
00:26:14given that we are not importing three and a half million people
00:26:18into the country per year, and we are now exporting three and one and
00:26:22a half million people, which should reduce employment growth by about
00:26:26200 thousand people a month, and nothing like that has
00:26:30occurred, in fact employment growth. has been amazing given the
00:26:34change in the migration patterns into the US, so uh, I don't see
00:26:38anything about the employment ones except for this one where they two,
00:26:42the two measures completely disagree with each other, uh, other than that,
00:26:46they may be bad next month, but this month, I,
00:26:49I didn't take much notice to that difference, and just final question of all the presidents
00:26:53you worked with, who was your favorite, oh my
00:26:57god, they're all different in different ways, I loved Kennedy, I thought Kennedy was
00:27:00spectacular, I thought Reagan was on... unbelievable, I think Trump has done an
00:27:04exceptionally good job on the economy uh, and you know, I was a big
00:27:08fan of Bill Clinton's, as you probably know, I voted for him twice, he was a
00:27:12great president from the standpoint the economy, and then there have been some really
00:27:16bad ones like Nixon, like Ford, like Carter, I mean that
00:27:19Biden, these guys were really terrible on the economy, so it's not a
00:27:23partisan issue, I like low tax rates, sound money,
00:27:27minimal regulations, free trade, and then just get the heck out the way
00:27:31and let people solve their... own problems with a correct environment. Other
00:27:35Lapa, it was a pleasure having you on the program. Thank you for sharing your extensive
00:27:38experience with us, really appreciate that. Thank
00:30:14Hello and welcome to TRT World. This is the news hour live with
00:30:18me Yashni Padiachi. It's great to have you with us. Coming up in the next
00:30:2260 minutes. Saudi Arabia vows serious
00:30:25response after missiles hit Riyad's main airport twice
00:30:29over the weekend. The attacks killed at least. 14 and
00:30:33threaten to rais raise the stakes in the wider region.
00:30:36Iran's foreign minister is now offering to mediate between Saudi
00:30:40and Yemen's hoothies. Deal or no deal. Donald Trump
00:30:44announced an energy cease fire deal has come into effect between Russia
00:30:48and Ukraine. The Kremlin though hasn't responded, and
00:30:52Ukraine's president says it was all a surprise
00:30:55to him. The anger against India's government is
00:30:58growing. The cockro'.