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Mark interviews economist Steve Moore. · The Mark Simone Show

• 0:00
  Speaker 1: Welcome back to the Mark Simone Show. Well, Steve Moore,
• 0:05
  Speaker 1: the brilliant economist, and you should get his latest book,
• 0:09
  Speaker 1: The Trump Economic Miracle. It's an excellent book. You'll learn
• 0:13
  Speaker 1: a lot. Hey, also, you should sign up for his
• 0:15
  Speaker 1: daily briefing. The Committee to Unleash Prosperity puts out the
• 0:19
  Speaker 1: best news and analysis every day. It's free. It'll come
• 0:22
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• 0:29
  Speaker 1: Steve Moore, how you doing?
• 0:31
  Speaker 2: Well, I'm doing well. We got the latest just about
• 0:36
  Speaker 2: an hour ago. We got the latest numbers on inflation.
• 0:38
  Speaker 2: You may have seen that the number creeped up just
• 0:41
  Speaker 2: a tiny bit, but we're at the three and a
• 0:44
  Speaker 2: half percent range on inflation, which is too high, obviously.
• 0:48
  Speaker 2: But you know what the inflation rate was four years
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  Speaker 2: ago when Biden was president? Zero? Zero. Nine percent. And,
• 1:00
  Speaker 2: you know, I understand people are angry about your grocery
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  Speaker 2: prices and filling up your tank. I am, too. But,
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  Speaker 2: you know, when I was a kid, or maybe you're
• 1:11
  Speaker 2: about the same age that I am, but I remember
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  Speaker 2: we had nine, ten, eleven percent inflation under Jimmy Carter. So,
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  Speaker 2: you know, that's real inflation.
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  Speaker 1: Now, in those days, the Carter days, Didn't they include
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  Speaker 1: energy costs in that back then and we don't do
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  Speaker 1: it now?
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  Speaker 2: I'm not so sure how they– you're quite right. They've
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  Speaker 2: made some changes in the way they calculate things. But
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  Speaker 2: back then– I mean, I remember it like it was
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  Speaker 2: yesterday because I was like a teenager– And literally every
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  Speaker 2: time you go to the store, everything works. And literally
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  Speaker 2: they'd have people. Remember, that was back in the days
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  Speaker 2: before they had all the barcodes. They would put those
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  Speaker 2: sticker machines. They put the sticker prices on that. And
• 1:56
  Speaker 2: the joke was you try to grab the merchandise before
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  Speaker 2: they could put a higher sticker on the stuff. So,
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  Speaker 2: you know, inflation was raging out of control. And that
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  Speaker 2: was that ruined the economy. So what is driving the inflation?
• 2:10
  Speaker 2: I just want to make sure your listeners and I
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  Speaker 2: think they do understand this. It's really one factor. It's
• 2:15
  Speaker 2: oil prices. And so if we can get those oil
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  Speaker 2: prices and the diesel prices down, that will drive down
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  Speaker 2: the cost of everything. I think that's going to happen
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  Speaker 2: in the next couple of months. I don't know if
• 2:25
  Speaker 2: it's going to happen fast enough to save the Republicans,
• 2:28
  Speaker 2: but that's where we are right now. But all the
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  Speaker 2: other indicators, Mark, on the economy are very strong. I mean,
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  Speaker 2: you've got construction jobs. You've got manufacturing jobs. You've got
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  Speaker 2: record low number of people on unemployment benefits. You've got...
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  Speaker 2: The poverty rate is the lowest it's ever been. So overall,
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  Speaker 2: I give this economy. I know Trump says it's a plus, plus, plus. No,
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  Speaker 2: I'd say it's a B-plus economy.
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  Speaker 1: Yeah. Now, the problem is the media, and they did
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  Speaker 1: this once before. They did it when Clinton and Bush
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  Speaker 1: were running against each other. CBS News every night had
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  Speaker 1: a feature called Economy in Crisis.
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  Speaker 2: Right, right, right.
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  Speaker 1: So they're doing that now. If you're just a guy
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  Speaker 1: who works hard all day and you only got time
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  Speaker 1: to watch the news at 630. They've convinced you the
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  Speaker 1: economy's in total crisis. Well, what can be done?
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  Speaker 2: Are you saying that the media doesn't like Donald Trump?
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  Speaker 2: Come on.
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  Speaker 1: Yeah.
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  Speaker 2: But it is true. I mean, there's a study that
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  Speaker 2: was done by my friends at the Media Research Center.
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  Speaker 2: They found that in 2025, and by the way, 2025
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  Speaker 2: was a real booming year for the economy. Yeah. 92%
• 3:34
  Speaker 2: of the news stories on the economy were negative. Yeah.
• 3:38
  Speaker 2: Even though we had a booming economy. So right now
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  Speaker 2: it's probably 98%. Yeah, but it works.
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  Speaker 1: You know, you talk to the average person who's not
• 3:45
  Speaker 1: following things too closely. You go, wow, it's an economy
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  Speaker 1: like this. I don't know how he's going to lose himself.
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  Speaker 1: Are you drinking something?
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  Speaker 2: The other point I wanted to make you, Mark, this morning,
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  Speaker 2: because I know you read our hotline every morning. I
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  Speaker 2: hope people do get it. Just go to at leastcostofliving.com.
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  Speaker 2: It's free. So do you know what color the 10
• 4:03
  Speaker 2: states with the highest cost of living are?
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  Speaker 1: Blue. Yeah.
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  Speaker 2: They're Democrat states. They're New York, New Jersey, California. In California,
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  Speaker 2: I know, you know, you're there in the New York
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  Speaker 2: City area. In California, they're paying well over $ 6 a
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  Speaker 2: gallon for gas because they put so many regulations and
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  Speaker 2: taxes on. They're paying $ 1. 50 more a gallon for gas
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  Speaker 2: than people pay in, you know, Nebraska.
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  Speaker 1: Wow. Hey, so let's just say, God forbid, the Democrats
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  Speaker 1: win in November.
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  Speaker 2: Exactly.
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  Speaker 1: What happens to the United States? What happens to the economy?
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  Speaker 1: What happens to the stock market?
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  Speaker 2: Well, listen, we've got a resilient economy and Trump will
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  Speaker 2: have a veto power. Let's say the worst case scenario
• 4:44
  Speaker 2: for Republicans, if they lose the house and Senate, uh,
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  Speaker 2: you know, Trump will have to play defense and stop
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  Speaker 2: these crazy ideas of, of, of adopting socialism and, and
• 4:54
  Speaker 2: massive tax increases. Um, So, you know, he's going to be,
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  Speaker 2: you know, and the stuff that he's going to be
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  Speaker 2: able to do will have to, most of it will
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  Speaker 2: have to be done through, you know, executive orders because
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  Speaker 2: I don't see, you know, a, you know, a party
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  Speaker 2: headed by AOC and El Sayed doing much to help
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  Speaker 2: Trump grow the economy. Do you?
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  Speaker 1: No, but how will they handle the impeachments? Will it
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  Speaker 1: be one a month, one a week?
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  Speaker 2: How are they going to do that? They won't be
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  Speaker 2: able to restrain themselves. And, you know, we saw two
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  Speaker 2: or three bogus impeachments. Remember the Russia collusion hoax, by
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  Speaker 2: the way?
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  Speaker 1: Yeah, of course.
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  Speaker 2: They spent an entire year and a half on CNN
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  Speaker 2: and MSNBC talking about that every night. And the whole
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  Speaker 2: thing turned out to be a complete hoax. So yes,
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  Speaker 2: of course, they're going to try to impeach him. They're
• 5:45
  Speaker 2: going to go after the people in his administration. And
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  Speaker 2: I think they'll probably overplay their hand on that, just
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  Speaker 2: as Republicans did remember when they tried to impeach Clinton.
• 5:55
  Speaker 2: for the Monica Lewinsky scandal. So, you know, we'll see.
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  Speaker 2: But overall, cheer up, folks, because this economy, yes, inflation
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  Speaker 2: is still too high, but the jobs are out there.
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  Speaker 2: A lot of the investment is coming in. The stock
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  Speaker 2: market's doing really well. I'm a little nervous about the
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  Speaker 2: increase in interest rates. That's something that's a little concerning
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  Speaker 2: because if interest rates go up, then the stock market
• 6:18
  Speaker 2: usually comes down a little bit.
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  Speaker 1: Yeah. Hey, the big fear with AI, the original fear
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  Speaker 1: was that it would put everybody out of work. That's
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  Speaker 1: not been the case. Why is that?
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  Speaker 2: Well, AI is pretty amazing. You know, it's interesting because
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  Speaker 2: we will literally, with AI, in the next 10, 15 years,
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  Speaker 2: have a cure for cancer. They have new technology that's
• 6:41
  Speaker 2: very nascent, but just that literally blind people will be
• 6:45
  Speaker 2: able to see. People will be able to rise out
• 6:47
  Speaker 2: of their wheelchairs. They'll have, how about this? Think about this. Mark,
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  Speaker 2: in 10 years' time, everybody might have their own little
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  Speaker 2: robot that will make your bed for you and will
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  Speaker 2: make your coffee for you in the morning. I mean,
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  Speaker 2: life is going to change a lot thanks to robotics
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  Speaker 2: and AI. I know people are a little bit worried
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  Speaker 2: about it. Look, I think it's mostly positive, but people
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  Speaker 2: are wondering what's this going to mean for my job
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  Speaker 2: and so on. But the economic advantages and the health
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  Speaker 2: benefits are going to be absolutely tremendous. I'm on the
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  Speaker 2: board of a company, you know this, that's called Lightspeed,
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  Speaker 2: and we build houses with robots. So we'll be able
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  Speaker 2: to cut the cost of building a home in half,
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  Speaker 2: and that means housing will become much more affordable. People
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  Speaker 2: will be able to move into bigger and more luxurious homes.
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  Speaker 2: So I'm excited about this. But sometimes, you know what
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  Speaker 2: drives me crazy, Mark, these CEOs of these AI companies
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  Speaker 2: are They're like their own worst enemies. Oh, it's going
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  Speaker 2: to be doomsday. I mean, who does that? Who talks about,
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  Speaker 2: you know, the new product? Oh, you don't want to
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  Speaker 2: buy this because it's going to be doomsday.
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  Speaker 1: Yeah. Hey, when you say this company is going to
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  Speaker 1: build homes with robots, what do you mean? The robot
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  Speaker 1: will actually have a hammer and be hammering a nail in?
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  Speaker 2: It's amazing. You and your listeners go to lightspeed.com and
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  Speaker 2: you'll see we have, you know, video of these robots built.
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  Speaker 2: And yes, they screw in the screws. They pound in
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  Speaker 2: the boards. Now, right now, they can only do the
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  Speaker 2: outside structure of the home. But the thing that's so amazing, Mark,
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  Speaker 2: is just every month that goes by, these robots get
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  Speaker 2: better and better and better at it. So yeah, within
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  Speaker 2: five years, they'll be able to build practically the whole house. Wow.
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  Speaker 1: So that's going to put a lot of construction workers
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  Speaker 1: out of work.
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  Speaker 2: Well, that's right. I mean, so people, the way we
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  Speaker 2: work and the kinds of jobs we do will change.
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  Speaker 2: A lot of the menial jobs, like somebody pounding a
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  Speaker 2: nail into a piece of wood, that kind of menial
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  Speaker 2: work of carrying huge... I remember when I was a
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  Speaker 2: kid and my parents would take me to some of
• 9:01
  Speaker 2: these factories. I mean, those were sweatshops for people. That
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  Speaker 2: was tough work. People carrying these huge... pieces of equipment
• 9:12
  Speaker 2: and so on. A lot of that will be done
• 9:14
  Speaker 2: through machines and robots, but that means, you know, you're
• 9:18
  Speaker 2: not going to have that back-breaking kind of work that
• 9:20
  Speaker 2: people used to do, and work will be actually more
• 9:24
  Speaker 2: based and more fun. We'll have more radio talk show hosts.
• 9:28
  Speaker 1: Yeah, a robot will be sitting here. You know, anytime
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  Speaker 1: you had a new technology that put people out of work,
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  Speaker 1: whether it was the industrial revolution, the digital revolution, It's
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  Speaker 1: just a matter of a couple of years before everything
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  Speaker 1: corrects and people find new jobs.
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  Speaker 2: That's right. I mean, the most famous example of that,
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  Speaker 2: you know what the invention probably led to the most,
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  Speaker 2: put the most people out of work temporarily? It was
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  Speaker 2: the farm tractor. Because when the farm tractor came, all
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  Speaker 2: of a sudden, you know, it used to be half
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  Speaker 2: of our workforce was growing food. You know, now it's 2%.
• 10:00
  Speaker 2: means the rest of us have more food than ever
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  Speaker 2: before and we get to do we don't have to
• 10:04
  Speaker 2: pick fruits and vegetables all.
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  Speaker 1: Day wow very interesting all right well steve moore great
• 10:08
  Speaker 1: talking to you everybody uh sign up your daily briefing
• 10:11
  Speaker 1: is the best topics news analysis it's free Just sign up.
• 10:16
  Speaker 1: Go to UnleashProsperity.com. Sign up for the hotline, UnleashProsperity.com. Get
• 10:22
  Speaker 1: Steve Moore's book, The Trump Economic Miracle. Steve Moore, thanks
• 10:26
  Speaker 1: for being with us.
• 10:28
  Speaker 2: Thank you, Mark. Have a great week. Take care. All right.
• 10:30
  Speaker 1: Take care. Hey, we've got a lot to get to.
• 10:34
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• 10:39
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