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Mark interviews economist Steve Moore. · The Mark Simone Show

• 0:00
  Speaker 1: Live from the WOR LifeVac studios, Mark Simone. Well, Steve Moore,
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  Speaker 1: the brilliant economist, you should get his latest book, The
• 0:11
  Speaker 1: Trump Economic Miracle. And also, of course, sign up for,
• 0:15
  Speaker 1: he puts out the best daily briefing news analysis. It's
• 0:19
  Speaker 1: the hotline. Just go to UnleashProsperity.com. UnleashProsperity.com. It's free. It'll
• 0:25
  Speaker 1: come right to your email. Sign up for the hotline there.
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  Speaker 1: Steve Moore, how you doing?
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  Speaker 2: Hey, Mark, I'm doing well. By the way, you mentioned
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  Speaker 2: our hotline. I don't know if you saw yesterday that
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  Speaker 2: we reported on one of the biggest economic stories of
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  Speaker 2: the year that almost no one else has even picked up,
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  Speaker 2: which is the gold standard of our economic indicators comes
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  Speaker 2: from the Census Bureau once a year that tracks what
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  Speaker 2: happened with family income, what happened with poverty rates in
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  Speaker 2: the United States. And this report was such a blockbuster.
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  Speaker 2: It showed that the median family income for the year 2025,
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  Speaker 2: Trump's first year in office, rose to an all-time high, $ 87, 500.
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  Speaker 2: And by the way, that's adjusted for inflation. We also
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  Speaker 2: saw a record low poverty rate in the United States,
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  Speaker 2: the lowest poverty rate ever in the United States for blacks, Hispanics, children,
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  Speaker 2: so forth. And guess, female women's earnings went up higher
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  Speaker 2: than men, so the pay gap between men and women fell.
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  Speaker 2: All of this good news. Did you read that in
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  Speaker 2: The New York Times? Did you read that in The
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  Speaker 2: Wall Street Journal? Did you read that in The Washington Post?
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  Speaker 2: Did you see that on CNN? Yeah.
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  Speaker 1: I wonder why they wouldn't cover that story.
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  Speaker 2: They didn't cover it at all. I mean, I guarantee you,
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  Speaker 2: I guarantee you, Mark, if this had happened under Obama,
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  Speaker 2: it would have been a banner headline in every newspaper
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  Speaker 2: in the country.
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  Speaker 1: It would have been breaking news on TV. They would
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  Speaker 1: have cut into every program. So, yeah.
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  Speaker 2: I mean, Trump cannot get a fair shake from the media.
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  Speaker 2: You know, and then people are so depressed about the economy. Look,
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  Speaker 2: I get it. Oil prices and gas prices are too high,
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  Speaker 2: and that is a problem. But you look at all
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  Speaker 2: of these other factors in the economy that are so positive.
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  Speaker 2: Trump is right. We're bringing in trillions of dollars of
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  Speaker 2: new money. You've got a construction boom going on in
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  Speaker 2: this country. You've got a lot of new job creation.
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  Speaker 2: And yet the media, you would think that this was
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  Speaker 2: the Great Depression. Well.
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  Speaker 1: That's true. Fake news has taken over. I don't know.
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  Speaker 1: You know, it started 10 years ago when Trump first
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  Speaker 1: ran and he said, well, when will this fake news end?
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  Speaker 1: It's locked in now. This fake news will be with
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  Speaker 1: us forever.
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  Speaker 2: By the way, all of these numbers I mentioned, by
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  Speaker 2: the way, are reversals from Obama. I mean, from Biden.
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  Speaker 1: Yeah.
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  Speaker 2: They are gaining income under Trump. Here's another one. The
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  Speaker 2: average 401k plan, and I bet most of the people
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  Speaker 2: who are listening to this show have some kind of
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  Speaker 2: retirement plan, either a 401k or invest their money for
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  Speaker 2: retirement and pension plan is invest in the market. The
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  Speaker 2: average plan is up $ 24, 500 in just 18 months, whereas
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  Speaker 2: under Biden, because of the high inflation rate, The average
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  Speaker 2: plan lost money. Again, nobody covers this.
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  Speaker 1: Yeah, but the other problem is the Republicans stink at messaging.
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  Speaker 2: They stink. They're the worst communicators.
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  Speaker 1: Well, you just did. The one minute you just did.
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  Speaker 1: Why don't they do that? Why didn't they do that
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  Speaker 1: at the midterm convention?
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  Speaker 2: Yeah. I mean, good question. You know, my mission in
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  Speaker 2: life is to try to get them this information. I mean,
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  Speaker 2: that's why radio shows like yours are so important. because
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  Speaker 2: you are getting out the truth to people because you're
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  Speaker 2: not going to get it. I mean, look, I scoured
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  Speaker 2: through the New York Times and then there was a
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  Speaker 2: little article in the middle of the paper. Oh, by
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  Speaker 2: the way, record high income of last year. I mean,
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  Speaker 2: they practically, it was buried in between some ads in
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  Speaker 2: the middle of the paper. Nobody saw it.
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  Speaker 1: Now there's another story. Nobody's reporting.
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  Speaker 2: Only you.
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  Speaker 1: If you get the hotline, you'd get this story. Trump
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  Speaker 1: claimed Mar-a-Lago was worth $ 450 million. They took him to court.
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  Speaker 1: It's only worth $ 10 million. Explain this. A court yesterday
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  Speaker 1: ruled that Trump was too low. It was worth even
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  Speaker 1: more than he said.
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  Speaker 2: Yeah, this, again, is an incredible story. So people probably,
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  Speaker 2: what's her name? Letitia James. Yeah, Letitia James had basically
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  Speaker 2: prosecuted Trump for financial fraud. She said that he overvalued
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  Speaker 2: on his disclosure forms how much Mar-a-Lago was worth. She
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  Speaker 2: said it was worth, I forget the number, somewhere around
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  Speaker 2: $ 20 million. Now, by the way, have you ever been
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  Speaker 2: to Mar-a-Lago?
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  Speaker 1: Yeah.
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  Speaker 2: Anyone who would look at that property, this vast property,
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  Speaker 2: and say it's only worth $ 20 million has their head
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  Speaker 2: screwed on. I mean, you can't even buy a four-bedroom
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  Speaker 2: house for $ 20 million in Palm Beach. So Trump would say, no,
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  Speaker 2: we think it's worth like half a billion. And they
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  Speaker 2: accused him of fraud. And yesterday, earlier this week, the
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  Speaker 2: judge who looked at it and reviewed it said, oh, actually,
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  Speaker 2: it's worth $ 600 million. So it's even more worth more
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  Speaker 2: than Trump said it was, not less. And by the way,
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  Speaker 2: I really believe because of prosecutorial misconduct, Letitia, what's her name?
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  Speaker 1: Letitia James.
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  Speaker 2: Yeah. She should be dispowered. She should be taken out
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  Speaker 2: of office.
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  Speaker 1: Yeah. Well, good luck with that. It's New York. All
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  Speaker 1: the judges are Democrats.
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  Speaker 2: It's a good example of how Trump cannot get a
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  Speaker 2: fair shake from anybody with a D next to their name.
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  Speaker 2: They're out to get him. And the guy is like,
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  Speaker 2: he's bulletproof. I mean, the more they shoot at him,
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  Speaker 2: they just ricochets off of him. But he has a
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  Speaker 2: nerve of steel. Most people would wilt under this kind
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  Speaker 2: of pressure. It just makes him stronger.
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  Speaker 1: Hey, Steve Moore, the Fed yesterday increasing a quarter of
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  Speaker 1: a point. That was the right thing to do, wasn't it?
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  Speaker 2: Yeah, I think so. I mean, if I'd been on
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  Speaker 2: the Federal Reserve Board, as you know, Trump nominated me
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  Speaker 2: to be. I didn't make it through the process. But
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  Speaker 2: if I'd been on the Federal Reserve Board, I probably
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  Speaker 2: would have reluctantly, reluctantly voted yes. It's important for Kevin Warsh,
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  Speaker 2: who's a friend of mine, yours and Larry Kudlow's. And
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  Speaker 2: it was a great guy, I think, fantastic economist and
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  Speaker 2: perfect choice for the Fed. He wants to establish his
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  Speaker 2: inflation strategy. fighting bona fides, and I think he did
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  Speaker 2: that by raising the rates. Remember what they all said
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  Speaker 2: about all the liberals? Oh, no, he's going to do
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  Speaker 2: exactly what Trump tells him to do. The media didn't
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  Speaker 2: report that, did they? Trump wanted him to cut rates,
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  Speaker 2: and instead he, I think, did the right thing and
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  Speaker 2: raised them. So it proves that he's independent of Trump,
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  Speaker 2: but they didn't give him credit for that.
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  Speaker 1: Yeah. What would be the argument to cut rates right now?
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  Speaker 2: Well, Trump is right about a couple of things. First
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  Speaker 2: of all, Trump said it very well. And so did,
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  Speaker 2: by the way, so did Kevin Warsh. Kevin Warsh's statement
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  Speaker 2: that he made after they announced the rate increase was
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  Speaker 2: very bullish. He said, look, I think the economy looks
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  Speaker 2: very strong. We've got a lot of investment, all the
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  Speaker 2: things that I just said. He recited all of those statistics.
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  Speaker 2: He said there's only one problem with the economy right now,
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  Speaker 2: and that's the high oil prices. And he said, look,
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  Speaker 2: as Fed chairman, I can't do anything about global oil prices. Um,
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  Speaker 2: but he said, look, we see this economy really taking off, uh,
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  Speaker 2: as soon as those oil prices come down. And I
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  Speaker 2: happen to agree with them. So it was a good
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  Speaker 2: assessment of where we're at right now. And, um, and, uh, he's,
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  Speaker 2: he is, uh, he's going to be a fantastic. We just,
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  Speaker 2: I don't know. I don't know how we get the
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  Speaker 2: oil prices down, but I guarantee you when they come
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  Speaker 2: down and they will, you're going to see, I agree
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  Speaker 2: with Kevin Warsh. You're going to see a big boom.
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  Speaker 1: You know, I was looking back at the Iraq war
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  Speaker 1: and the same thing straight after Hormuz closed. Oil prices
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  Speaker 1: went to $ 100 and whatever. When the war ended, it
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  Speaker 1: was all over. Oil prices went to $ 42 a barrel. Oh, yeah.
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  Speaker 2: There's no shortage of oil. The amount of oil in
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  Speaker 2: the world is huge. I mean, we would go back to, well,
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  Speaker 2: you live in the New York area, so you pay
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  Speaker 2: more than most people pay for gas. But, you know,
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  Speaker 2: around the country, we could see gas back down to
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  Speaker 2: below $ 2. 50 a gallon if we could just get the
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  Speaker 2: situation settled in the Middle East.
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  Speaker 1: Well, Steve Moore, great stuff. Everybody sign up for the hotline.
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  Speaker 1: You're going to love this. You get all kinds of
• 8:23
  Speaker 1: stories you won't get anywhere else. And the best news
• 8:25
  Speaker 1: and analysis, and it's free. It'll come right to your email.
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  Speaker 1: Go to UnleashProsperity.com. UnleashProsperity.com. Steve Moore, are you going to
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  Speaker 1: do a new book? I love the book, The Trap
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  Speaker 1: Economic Miracle.
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  Speaker 2: Well, I don't know how I can top that one.
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  Speaker 2: I'm going to try to do a new book, maybe
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  Speaker 2: on the how the blue states are burying themselves in
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  Speaker 2: taxes and regulations.
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  Speaker 1: Yeah, that would be good. But everybody also go to Amazon,
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  Speaker 1: order his book, The Trump Economic Miracle. Steve Moore, thanks
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  Speaker 1: for being with us.
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  Speaker 2: Okay, Mark, have a great weekend.
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  Speaker 1: Take care. Take care. Hey, coming up at noon, Buck
• 9:00
  Speaker 1: Saxton and Clay Travis, they're great every day. Sean Hannity,
• 9:04
  Speaker 1: he's the most listened to radio host in America at
• 9:06
  Speaker 1: 3 o'clock. Jesse Kelly at 6 o'clock. Jimmy Fela. What
• 9:10
  Speaker 1: a funny, great show he does every night at 9.
• 9:12
  Speaker 1: Jimmy Fela. In fact, he'll be with us in the
• 9:14
  Speaker 1: next hour right here on 710WOR.