Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00old
00:00:00of now and I'm not afraid for my own life, because I feel
00:00:04I am nearing the end of my life, but I worry
00:00:08about my children and grandchildren, I
00:00:10of want in them to be safe, they need safety more than I
00:00:14do, plenty officials say stringent safeguards incorporate
00:00:18lessons from previous nuclear
00:00:19accidents, shares some of her
00:00:23neighbors concerns, but power cuts make irrigating her land
00:00:29a difficult, for 24 hours without interruption as the plant is
00:00:33near my home. for Bangladesh, the promise extends well
00:00:36beyond, reliable electricity can keep factories running,
00:00:40farms irrigated and homes lit. after
00:00:43of years a of delays, the country is waiting for that to become part
00:00:45of the reality of everyday life.
00:00:49a Euromirolu, TRT World. A state
00:00:52emergency has been declared in parts of Pakistan, as thousands
00:00:56there protest in support
00:00:58of the jailed former Prime
00:00:59of Minister. of Imran khan police fired warning shots at demonstrators
00:01:03in Kaiber Bakdunkwa, northwestern province
00:01:07governed by the PTA (PTI) the party of Imran
00:01:11Khan. The state of emergency ruling brings the province under direct
00:01:15federal control. At Germany's
00:01:19fragile ruling coalition has suffered another major setback with the
00:01:22surprise resignation of Barbel Bass, the labour minister.
00:01:26Bass has also stepped down as leader
00:01:29of the social. Democratic Party, main coalition
00:01:32of partner of Chancellor Friedrich Metz's CDU, barcited
00:01:36the death of her step-daughter and subsequent political attacks on her,
00:01:40including from coalition allies for her
00:01:43decision. Thousands of people have been
00:01:47marching through Barcelona on Spain's national
00:01:50of day
00:01:50in a right-wing protest against the government's handling
00:01:54of the migrant crisis in the North African enclave of
00:01:57Seuta. More than 70,00 people
00:01:59of entered.
00:02:00of from Morocco over two days at the end of July and protesters
00:02:04say residents
00:02:05of the enclave have been neglected by
00:02:07Madrid.
00:02:11That's the news for now, right now, it's
00:02:17of Nexust.
00:02:21of
00:02:34of "we have the best economic numbers of any
00:02:38president in the history of our country. Donald Trump is betting the
00:02:42economy will win his party the mid-terms
00:02:44of next month, but the odds don't look good,
00:02:47especially after the latest shocking jobs report. The US economy
00:02:51added 29,00 jobs in September that was less than
00:02:55expected. The disappointing
00:02:57of report comes a month before Americans head to the polls from..." term elections
00:03:00even worse near record high gas prices. This is
00:03:04Trump's fault, this should not be this high, it needs to
00:03:08of end, ridiculous. President Trump though is telling
00:03:11Americans a different story. The poverty
00:03:14a rate of has just reach its lowest
00:03:18of level in American history. The stock market has reached an
00:03:22all-time high every night, night after night.
00:03:26I drives me crazy. So ladies and gentlemen, the golden.
00:03:30of America is upon
00:03:31of us, so Trump's betting the house literally on the economy,
00:03:35but which way will Americans call it? No, you can't save now,
00:03:39every dollar you have has to go to gas, groceries, bills,
00:03:42a rent,
00:03:42of the democrats are rubbing their hands, they think the Republicans are
00:03:47a of finished, frankly it's going to be a white out, so what I'm going to do
00:03:50is ask you to just pretend that I'm running, because if we
00:03:54do, and if you draw the people, you're going to win, and we're going to win big, well is the
00:03:58economy a winner? or
00:04:03of a not, we'll ask our panel in just moment, but first here's how Trump is scoring himself: greatest tax cuts
00:04:07in history, the best economy in history, more money coming into our
00:04:11country in history. love him or loth him, Trump is a great
00:04:15salesman, but he's got an uphill battle, trying to sell
00:04:18his economy
00:04:20of ahead of
00:04:20of of the crucial mid-terms to nation still struggling with
00:04:24the cost of living. so far he's held
00:04:26of rallies in Ohio, Oklahoma, Texas, Alabama. and
00:04:30more are coming, including New York and Nebraska. I love being with you,
00:04:34I really do, I
00:04:35of mean it's it's great, it's incredible, you're incredible people. When President Trump says
00:04:39he's built the best economy ever, he's not making it up, not
00:04:43entirely. By some
00:04:45of measures, his scorecard looks pretty
00:04:47of good. The GDP figures back Trump up. Real
00:04:50GDP rose 2.1% in the second quarter this year,
00:04:54compared to the same period last year, far ahead
00:04:57of the UK on 1.4%, and the euro zone at
00:05:01just 1.2 percent. Real GDP strips out
00:05:05inflation, so it's real growth, not just higher prices.
00:05:09More Americans are working today
00:05:12in a our country than any time by far
00:05:16in history. It's true, the number of Americans in work is a near
00:05:20record. 163 million people working just
00:05:23behind Trump's first year, which holds the top spot ever. We're
00:05:27doing better than any country in the world, economically. The typical
00:05:31American household is bringing in
00:05:33$87,460, that's
00:05:37the highest since records began in 1967,
00:05:41and median is a good. measure because it's right in the middle of
00:05:45all American households, not skewed by a handful of billionaires
00:05:49and once again it's real, in other words, adjusted for
00:05:52inflation, but poverty rates are all at their lowest levels
00:05:56ever recorded, think of that. The official poverty
00:06:00rate is at record low, 10.2% in
00:06:042025, down from 10.7%, and it's
00:06:08the lowest since records began in 1959.
00:06:11It's a stock. market is sored to 81 all-time record
00:06:15highs since the election. again, true, all three
00:06:19major US induces are at or very close to
00:06:23all-time highs. the tech heavy Nasdaq is up the most around
00:06:2735% since Trump took office in January
00:06:312025, thanks to soaring AI stocks of
00:06:34course. Inflation is still a soore point at
00:06:383.4%. It's still higher than the Fed's 2%
00:06:41target. but it's still much lower than the peak under Joe
00:06:45Biden when inflation hit 9%.
00:06:49gas prices too are at record highs right now due to the Iran
00:06:52war, but still lower than the peak under Biden,
00:06:56but the problem for Trump in the midterms is that ordinary people
00:06:59aren't feeling better off. have you been to the grocery store later,
00:07:03you'll know what I'm talking about, buse prices are not going down
00:07:07or going up. Just one in four Americans
00:07:10approve of Trump's handling the... economy, an all-time low for
00:07:14him, and here's the really troubling figure: around two-thirds of
00:07:18Americans blame him personally for the high cost of
00:07:21living. well, let's bring in our guests now, we have investment
00:07:25banker and chairman of Republicans overseas, Greg Swenson.
00:07:28Republican political commentator, Angi Wong, and the
00:07:32economist and co-founder the Center for economic and policy
00:07:35research, Dean Baker. Welcome to the program everybody. The first question
00:07:39is, what do you each give Trump? in terms of a, b, c,
00:07:43d, what, what score do you give him? let's start with you,
00:07:46Greg. yeah, a for sure,
00:07:49matthew, a plus even. oh, my goodness. okay,
00:07:52angie. give president Trump a B plus. i think
00:07:56he could do lot better in the messaging on the economy. yep, and
00:08:00dean. no doubt enough. he was sanded
00:08:04a very good economy and really took it through the ring. and well, no surprises
00:08:07there. dean, let's let's start with you and let's get into the specifics, the different
00:08:11metrics. Trump is using to boast. Okay, US
00:08:15economy has grown faster than the United Kingdom and the
00:08:18Eurozone. Uh, what do you make the headline GDP
00:08:21figures? We've been growing faster before
00:08:25he took office, maybe he doesn't know that, but uh, the U.S. Economy, it was
00:08:29called the uh, wonder the world by the Economist magazine
00:08:33back in November of 224, so again, I don't know what World
00:08:36Trump's in, but that that's the real world. Greg, uh, GDP
00:08:40growth for the United States. is that down to Trump, is it down to other
00:08:44things? Well, I think the president's
00:08:48really planning for the long-term, with the reinvestment in the country,
00:08:52deregulation, tax reform, uh, liberation the
00:08:55energy sector, basically rewarding capital formation, so
00:08:59yeah, these things are starting to show already, we're seeing it in manufacturing
00:09:03productivity, we're seeing it in unit labor cos, I don't want to get too technical,
00:09:07but really the the it's about to explode, but it's actually
00:09:11exploded already. the challenge is we had
00:09:14minus 4% wage growth real wage growth in the
00:09:18bidon year, so you might have had GDP growth, but that's
00:09:21because
00:09:22the the administration threw trillions of dollars at an already overheated
00:09:26economy starting in 2021, so that helped GDP growth, but real
00:09:30wages went down 4%. Dean, just back to you quickly uh,
00:09:33GDP, I don't want to play games, real wages were growing 1 and
00:09:37a/2% year the last two years the Biden administration, we had
00:09:40pandemic, I know Trump. has problems with his memory, but we had a
00:09:44worldwide pandemic that hit the whole world, that was under his
00:09:48first term in office, that created huge problems that Biden had to deal
00:09:52with, he got us out by the end of his administration, real wages were growing
00:09:56very rapidly, they are not now, they're falling. Angie Wong, how much the
00:09:59GDP growth is down to President Trump setting the
00:10:02scene? Oh, all of it, I think President Trump has done an
00:10:06amazing job over the last two years. Greg is absolutely right, he has been
00:10:10plotting and planning, and now we're starting to... see the fruits of his labor, he's
00:10:14completely rejged the energy market, he's brought back
00:10:17manufacturing, he's reshored pretty much everything, he's doing deals left and
00:10:21right around the world to bring the best practices back to the United States.
00:10:25so he is delivering on the America first economy, the problem
00:10:28is that the messaging is not there, and it's very
00:10:32difficult to explain the economy to voters, it's just too
00:10:36long-winded, they don't understand necessarily macroeconomics and
00:10:40tariffs and how that trickles down to their savings, so I think President Trump said it
00:10:44best himself just last week that he's doing a terrible job at the
00:10:48messaging, but certainly certainly Americans will be
00:10:51benefiting benefiting from his economic policy. So Angy, do you think...
00:10:57first off in terms of manufacturing coming back, manufacturing factory
00:11:01construction sort under biting, adjusting for inflation, it more than
00:11:05doubled from pre-pandemic levels, 219 to 224, we've
00:11:08never seen anything like that, now we've seen the reverse under Trump, it's
00:11:12down by a third, just incredible, um, I know he's made a
00:11:16big deal trade, uh, well trade deficit was at the second highest levels
00:11:20ever in August, 105 billion, he's going the wrong way, I'm not
00:11:24a trade. panic, I'm not going to panic about that, but it's the wrong way by his own
00:11:28measure, so it's very hard to see, and yeah, it's hard to explain
00:11:32to people that gas prices are up 50% from when you took office,
00:11:35diesel prices have nearly doubled, yeah, it's hard to explain, record high beef
00:11:39prices, yeah, I grant, that's hard to explain to people, well Dean, just on the
00:11:43gas prices, I mean, he's saying you, we're at $4.36 a
00:11:47gallon, under Biden, it peaked at 5.2 a
00:11:50gallon, yeah, I know, Trump has memory
00:11:53problems, it wasn't. had f over $5 a gallon when he took
00:11:57office, we had pandemic, recovering from the pandemic was a
00:12:00problem worldwide, I know Trump has a really bad memory,
00:12:04most of us don't, so we saw the gas prices come down to
00:12:08just around $3 a gallon at the point where Biden left office and Trump walked
00:12:12in. Greg, quick rebottle and then we're going to get to the poverty rate. So
00:12:16yes, people do have short memories and and perhaps the president does, but but
00:12:20I do think that it's important to understand that the the economy was
00:12:24not as bad in 24 in Biden's last year as it was in
00:12:2822, but it was still pretty bad, so we're we've recovered
00:12:31one-third of that wage loss. Dean, let's just examine the poverty rate
00:12:35claim. He says that the United States has the lowest poverty
00:12:38rate on record. Is that just
00:12:40fact? We expect the
00:12:44poverty rate to fall through time. It's kind of like saying the tree in my backyard is
00:12:48taller today than it was last year. Trees grow.
00:12:52We're supposed to get richer as a country and yes. "there's been a monost drop
00:12:56in the poverty rate, they're different measures, I don't want to bore people at the technical things, so some them
00:13:00actually show it going up, but as a country grows as
00:13:04time passes, it gets richer, you expect poverty rate to fall. That's
00:13:07right, uh, Angie, there are different ways of calculating the poverty
00:13:11rate, and another version of it doesn't flatter Trump's economy at all,
00:13:15but what do you make of it? Yeah, I mean, not only
00:13:19has the Trump administration pulled many Americans out the property rate,
00:13:23they're now moving to helping..." young Americans, because we're
00:13:26hearing the other side, we're hearing the left, and we understand that there's a
00:13:30real problem with young Americans and getting them into the
00:13:34market. It is really sad that today you can start your very first
00:13:38real-paying job and still not be able to afford a house and a car
00:13:41and all your lifestyle, you have to get second job, and so we realize that that is
00:13:45issue and President Trump is addressing it, he knows now to not just
00:13:49talk about the stock market and how great it's doing, because a
00:13:5323-year-old with...
00:14:06among young are down well below what they were under the
00:14:09home ownership rates bin administration and really below what they were most the first Trump administration
00:14:13we have mortgage rates at 7 and a half percent um people can't afford
00:14:17homes that's right and lot of that's because of trump let's move to the next economic
00:14:20indicator that we saw in that report median household income uh that has
00:14:25gone up to record high and as it says in that report
00:14:29this is a real measure so it stripped
00:14:30out for inflation
00:14:32and uh it is the median so it's not skewed by
00:14:35billionaires. this would seem on the face of it a pretty reliable
00:14:38metric. it is good and again
00:14:42this is something that normal time rises year to year and keep in mind what you're looking at
00:14:46is data for 225 compared to 224, much
00:14:50that was what happened in 224 when Joe Buden was in the white house so
00:14:54it's... in the right direction, but lot
00:14:56of that had nothing to do with Trump, so again, it's the tree in my
00:15:00yard's taller today than it was yesterday. Dean critics, Trump's
00:15:04critics have said, look, that's all very well and good, but it doesn't really paint the real picture for
00:15:08ordinary Americans, because lot more their budget is taken up on things,
00:15:12the essentials like rent and fuel and groceries, and
00:15:15that's why they're not really feeling it as much as the headline figure
00:15:19there. Well, I don't think the headline figures are particularly good to
00:15:23begin with, but yeah, um, we're... seeing an explosion in gas prices,
00:15:26diesel prices, all because of Trump, I mean there's no ambiguity there, and then top of
00:15:30that, lot of people are losing their healthcare coverage again buse of Trump, he's cut back
00:15:34on the the affordable care act, President Obama's. program, he's thrown people off
00:15:38medicaid, he's thrown people off food stamps, so you have
00:15:42lot of people that are really, really struggling, so they're not wrong to feel pressed,
00:15:46trump's making them feel pressed. Greg, you have lot of experience in the
00:15:50United Kingdom and in the United States, you got one foot in both countries, the
00:15:54median household income is much, much higher in the United States than
00:15:57it is in the United Kingdom, but of course people in
00:16:01Britain don't have to pay so much for things like
00:16:03healthcare, well they do, they just pay through
00:16:07different. mechanism because they're taxed to lot higher rates
00:16:10and as you know the national healthcare uh the national health system here
00:16:13is government run so you know we prefer the private sector we
00:16:17Republicans and again we're seeing repositioning the economy back
00:16:21toward the private sector I would love to see that in the UK as well. Angy let's move to
00:16:25Wall Street and all the major industies are higher especially the
00:16:29Nasdaq now some would say that's merely because of a
00:16:33great increase in the value the AI stocks and that it's not actually
00:16:36reflective the economy: yeah, and
00:16:40president Trump has brought a lot of great confidence to investors and I
00:16:44think that in itself, just having the confidence to invest in US
00:16:48companies, whether it be AI or other industries, that helps
00:16:51investors say, yeah,
00:16:53I think I want
00:16:53to put some money in. Dean, when stocks are up, does that mean the
00:16:57economy broadly is pretty healthy or is it just so skewed
00:17:01now towards the big, the major, the mag 7 if you like, that it doesn't tell us
00:17:04anything. I'm old enough to have lived through two. um, this
00:17:08looks an awful like both them, we had lot of people were supposed to be
00:17:12really smart, we thought the housing bubble was just great, they put
00:17:16trillions of dollars in subprime mortgage back securities, um,
00:17:20we're seeing that now, the only question is when does the bubble burst, how
00:17:24bad will it be, we're already seeing lot of it, oracles that, the smallest
00:17:27the hyperscalers is now at junk, um, you're and we're
00:17:31seeing deteriorations with you, Microsoft, with Amazon, the most
00:17:35profitable companies in the world, "you're now seeing credit default spreads
00:17:39increasing about 60-80 basis points, the idea that these
00:17:43companies could actually go bankrupt, kind of incredible, so I don't
00:17:47know when it collapses, it would be better if it were tomorrow than you, three
00:17:50months, six months, two years down the road, but it will collapse. Greg, it will
00:17:54collapse, there there's always that risk, and look,
00:17:58housing was up 5.3% under Biden, it's only up
00:18:013.7% under Trump, we want housing to lower, we don't want that
00:18:05growth rate to continue."
00:18:08um it's it's falling too, so I think there's there's green shoots in the
00:18:11housing market, we don't want that asset inflation that we saw in the Obama years
00:18:15and the Biden years, when the economy, the real economy was weak,
00:18:19real wages were down, and yet the stock markets were really
00:18:23great, that's just because you pump enough money into the economy
00:18:27that you'll of course see asset inflation, so if you own stocks bonds and
00:18:31real estate you're doing well, if you're a working person you're not doing well, so
00:18:35that's the difference between the Trump power. economy, main street
00:18:39and wall street versus asset inflation that we had under both
00:18:43biden uh, biden and Obama, so so I'm not, I'm
00:18:46not worried too much as long as we can keep that asset inflation down, you're welcome to come
00:18:50in, yeah I just want to point out real wages have been falling the last
00:18:54year, so we're going the wrong way on that one, last question, they're flat but
00:18:58they're up, they're up 1.1% under Trump, a Dean, I think it was Mark
00:19:02Twayn who said, there are, there are lies, damned lies and
00:19:05statistics, and as if to prove it, Let's take a look at one the
00:19:09numbers that Trump's putting forward in his favor, um, the there are record
00:19:13number of Americans in work last year and just
00:19:17slightly less this year, but still close to record
00:19:20high, but isn't that because the population is also at
00:19:24record high? yeah, exactly, I'm on enough
00:19:28Gerald Ford, I remember during the recession in 75, hit his
00:19:31presidency, he said, more people are working today than ever before, and it was a true statement,
00:19:35because we had rapidly growing popular. labor force at that point, if you
00:19:39look at measures, the percentage the population that's working, that's actually
00:19:43fallen, and it's rather ironic, he's made a big point of his mass
00:19:46deportation, the employment rate for native-born
00:19:49Americans is down a full percentage point from when he took office, and you just
00:19:53last question, before we wrap up this segment at beginning
00:19:55the the program, you said that Trump's main failure was his
00:19:59failure in messaging, getting the economy through to the
00:20:02American people, what did you mean by that? yeah, well he spent the last
00:20:06two years jigging the American economy to favor Americans, and here
00:20:10we go, he understands that he is billionaire
00:20:14mogal, and to talk to a common American, that's not going to
00:20:18work very well, so he's now had to rejg everything. We what we saw in the White House
00:20:22last week was that he gave a gift to Iowans with an
00:20:2518 billion dollar steel plant, then he went over to Alaska with a
00:20:29proposed uh uh pipeline to South Korea for
00:20:3254 billion, but that didn't work either, so he started going
00:20:35to states like Nebraska and Texas and
00:20:39every time he does rally there he brings them a gift, whether it's a manufacturing
00:20:43plant or a diesel price lowering, he always
00:20:47brings them a gift, what I would love to see in the... very last days the
00:20:51election is the visual, the economic visuals that he used
00:20:55to do in the 2024 campaign, I want to see Trump back a garbage truck,
00:20:59I want to see Trump as the employee the month at McDonald's, I
00:21:03want those things to sell on his messaging on how much he's improved
00:21:07American lives, right now, economics too hard to explain,
00:21:10ang, Dean Baker and Greg Swinson, thank you all very much for analysis today, really appreciate
00:21:14that, well Angie was talking about messaging there, and as she said,
00:21:18nobody knows that he's falling short, better than Donald Trump. I've done
00:21:22a very bad job of explaining how how good the
00:21:26country is doing. We're doing better than any country in the world
00:21:29economically. We're not getting the word out. I mean, we're just not getting. Well,
00:21:33Republican commentators think the party should spend its massive war chest
00:21:37on countering the democrat's negative version of
00:21:40events. Otherwise, they warn it will end up like George
00:21:44Bush senior, who lost to Bill Clinton in
00:21:471992 when the economy was doing. right, but the democrats
00:21:51including James Carville, were telling Clinton and Gore
00:21:55to target Bush's economic record. Stay focus, talk about
00:21:59things that are matter to people, you know, it's the
00:22:03economy, stupid. 92, we thought the economy should be the filter through which
00:22:06everything we did went. What I was trying to do was get the campaign more focused,
00:22:10get the people in the campaign more focused, and it was like, it's the economy,
00:22:14stupid. Let's bring in someone who was there at the time,
00:22:18economist Arthur Laffer. He was member of Ronald Reagan's
00:22:21economic policy advisory board. Welcome to the program, Mr. Laffa. As I
00:22:25mentioned, number of Republican commentators are saying Trump
00:22:29situation reminds them of what was happening to
00:22:32George Bush senior back in 92. What do you
00:22:36think of that? I don't think it's correct. I mean, I think
00:22:40George Bush senior in 1992 lost the election because he
00:22:44broke his promise of no new taxes, he broke it, he made that promise to
00:22:48me specifically and... once he broke that promise, his poll numbers
00:22:52tumbled and he lost the election to what turned out to be very good president
00:22:56Bill Clinton, I mean he turned out to be very good, and that's why he did it, and
00:22:59Donald Trump has done just the reverse, he's got a great economy going
00:23:03uh, and it's performing well, and uh, there are other things that are going
00:23:07on besides that, but uh, the economy today is pretty nice, well that's kind of
00:23:11interesting, you you sort of agree with them, but not on that
00:23:14example, you agree that Trump's messaging is actually falling behind
00:23:18his economic performance. "I don't, I don't know if his
00:23:22messaging is, I mean, there are lots of other things besides economics that
00:23:26causes things to happen, wars and Iran and other
00:23:29places, Ukraine, Russia problem, and there are all sorts of other
00:23:32issues, but from the standpoint the US economy, the economy is
00:23:36performing well, the stock market's great, low unemployment, people are
00:23:40fully employed, we've had good at labor force growth, exceptional, uh,
00:23:44we have new fed chairman who's about the best I've ever seen, so I
00:23:48am really excited about what's going." in the US economy strictly from the
00:23:52economics standpoint, but politics is much more, much broader
00:23:56than just economics, you're happy with it, but the average American isn't apparently,
00:24:00apparently yeah, one in four Americans approve of Trump's handling the
00:24:04economy, that's record low for him, what is, what is acting
00:24:07against his record? well, I don't, I don't know why
00:24:11they don't like it, I mean, if you look any other country, we're doing better
00:24:15than other countries, we're doing better than previous administrations, I mean inflation
00:24:19is...
00:24:20I mean now, yes, of course there are problems and there are lots of problems, but they are
00:24:23not exceptional in this election. I mean, yes, you have high prices of
00:24:27oil, that's true, but then again, we've removed Iran's
00:24:31capability of distort of having nuclear war, which is
00:24:34probably a good thing to have happened. If you look ahead to the midterms,
00:24:38how do you think the economy will will do for the Republican
00:24:42Party? All I can tell you is that the economy is in fine
00:24:46shape, it really is, and it portends to be in fine shape. for a long
00:24:50time to come, so - you know, I don't see, I'm not despondent
00:24:54about the economy at all, personally uh, and I don't think other
00:24:58people should be. I mean, if you want to see bad economies, you can look at bad
00:25:01economies, for example, I don't know if you've watched Britain lately, but it's not
00:25:05doing very well, or some these other countries are just doing terribly,
00:25:09Canada, some the US relative to Biden is doing much, much
00:25:13better than it had been under Biden, so when I look at this economy, I think it's
00:25:17a fine economy, there are always things wrong. here there and elsewhere, but
00:25:21those are minor compared to the overall economy, which is pretty good. and uh,
00:25:25we're coming towards the end the segment, but if you were in Trump's ear right now, and you've been in the
00:25:28year of many president, um, is there anything he could do to
00:25:32change the conversation between now and early
00:25:35November? I don't know if there's anything you can do now to
00:25:39change the conversation, but
00:25:40you know, I've always believed in low tax rates, uh, broad
00:25:44tax bases, spending restraints, sound money, minimal
00:25:47regulations, free trade and... all of those, if you put them
00:25:51together, you will have very prosperous and good economy, and that's
00:25:55what I think Trump should talk about, and that's what primarily he is talking
00:25:59about, he's got some other stuff in there, like I don't at all.
00:26:02trub counts and this that and the other, but uh, on the economy, he's
00:26:06talking about it, and he's right, the economy is doing very well, and that's what I'd stick
00:26:10to, you know, people, Matthew, people deserve the governments they
00:26:14get, and if they want to elect a different person than Donald Trump and the
00:26:17Republican Party, they'll have to bear the consequences of it, and I can't
00:26:21imagine any incentive structure more serious than that.
00:26:25You're going to have to bear the consequences of what you do. Absolutely. The latest
00:26:29jobs report, the last one before the mid-terms, was... actually
00:26:33shockingly low and the worst for several months,
00:26:37only what 28, 29,00 jobs created uh, how how
00:26:40do you grade that? well, there are two things there, that was the
00:26:44establishment report, the household report was the biggest increase in
00:26:48jobs ever, we have two jobs reports out and the they
00:26:52were completely catadompuus, they were opposite each other, when you
00:26:56look at what's happened to jump employment over the longer period, the last two
00:27:00years, it's been amazing how good employment growth has been,
00:27:04given that, we are not importing three and a half million people
00:27:08into the country per year, and we are now exporting three and one and
00:27:12a half million people, which should reduce employment growth by about
00:27:15200 thousand people a month, and nothing like that has
00:27:19occurred, in fact employment growth has been amazing given the
00:27:23change in the migration patterns into the US, so uh, I don't see
00:27:27anything about the employment ones except for this one where they two
00:27:31the two measures completely disagree with each other uh other than that,
00:27:35they may be bad next month, but this month, i didn't take much
00:27:39notice to that difference. and just final question of all the presidents you worked with,
00:27:43who was your favorite? oh my god, they're all different in
00:27:47different ways, loved kennedy, i thought Kennedy was spectacular, i thought Reagan was
00:27:51unbelievable, i think Trump has done an exceptionally good job on the
00:27:55economy uh, and you was a big fan of Bill Clinton's, as you
00:27:58probably know, I voted for him twice, he was a great president from the...
00:28:02standpoint the economy and then there have been some really bad ones like
00:28:06Nixon, like Ford, like Carter, I mean that Biden, these guys
00:28:09were really terrible on the economy, so it's not a partisan issue, I
00:28:13like low tax rates, sound money, minimal regulations,
00:28:17free trade, and then just get the heck out the way and let people solve their
00:28:21own problems with a correct environment. Off lafer, it was a pleasure
00:28:25having you on the program, thank you for sharing your extensive experience with us, really
00:28:29appreciate that, thank you, and thank you at home
00:28:31and on your phones for watching if you want to... This episode or any of our previous episodes, go to our
00:28:34channel on YouTube, just type in Nexus TRT World. Till next week then,
00:28:38goodbye.
00:29:06a journey across a dynamic
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00:29:38World!
00:30:16Saudi Arabia promises to retaliate after Ansar Allahuti's
00:30:20attacks on airports as the Yemani group claims its
00:30:23targeted Riyad in a fresh
00:30:25strike. Hello, welcome to TRT
00:30:29World Live from London. I'm Hazm Seaker also ahead on the program.
00:30:33The US Democratic Congresswoman Omar accuses President
00:30:37Donald Trump a political intimidation after immigration
00:30:41agents raided her home. Ukrainian president
00:30:45voladimir Zelenski says it's increasingly clear Russia does not
00:30:49want a US proposed energy ceasefire after strikes on
00:30:53six energy facilities.
00:30:56And a major cyber attack hit fridges and freezers in
00:30:59supermarkets across France spoiling food. Estimated to be worth
00:31:03millions of dollars.