Latest / The 47 Morning Update with Ben Ferguson / BoA Predicts ‘Outright Boom’ Under Trump Policies

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BoA Predicts ‘Outright Boom’ Under Trump Policies · The 47 Morning Update with Ben Ferguson

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  Speaker 1: Did you get to see my driver in the first hall?
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  Speaker 2: You get a freight pretty long, pretty long.
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  Speaker 1: That's that's not Joe Biden.
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  Speaker 3: Let me tell you.
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  Speaker 1: That's sound Biden Bright. It's a good a good time.
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  Speaker 4: You're listening to the forty seven Morning Update with Ben ferguson.
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  Speaker 3: Good Wednesday morning. Nice to have you with us on
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  Speaker 3: the forty seven Morning Update. We've got two major stories
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  Speaker 3: for you this morning coming out of the White House.
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  Speaker 3: First up, the media finally having to tell the real story. Yes,
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  Speaker 3: there isn't just a recovery, it is a boom. Bank
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  Speaker 3: of America now saying the key tail risk is well
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  Speaker 3: that the Trump economy will actually start to take off.
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  Speaker 3: We're gonna break that down for you in just a moment. Also,
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  Speaker 3: the President of the United States shocking the world saying
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  Speaker 3: that ggping wants me to go to China, will most
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  Speaker 3: likely be going and maybe this year. This is more
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  Speaker 3: tariff agreements have been agreed to by the White House,
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  Speaker 3: yet again proving the media wrong. We'll have that. Also,
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  Speaker 3: it's a forty seven Morning Update and it starts right now.
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  Speaker 4: Story number one, not just.
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  Speaker 3: A cycled recovery, but a boom. That is how Bank
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  Speaker 3: of America is talking about Donald Trump's economy in a
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  Speaker 3: market landscape that is fixated on fear or stagnation and
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  Speaker 3: modest recoveries. Because Donald Trump's in office and they want
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  Speaker 3: everything to be doom and gloom, the Bank of America
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  Speaker 3: is now having to tell us the truth. They're sounding
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  Speaker 3: the reality and even deciding that they are bullish on
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  Speaker 3: where we are headed. According to a new note from
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  Speaker 3: a Bank of America research analysts, the next phase for
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  Speaker 3: the US economy and equities might not be a routine recovery,
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  Speaker 3: but quote an outright boom. Today, a confluence of factors
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  Speaker 3: argue that the key tale risk that may not be
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  Speaker 3: priced in is not just a cyclical recovery, but a boom.
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  Speaker 3: The note says, exactly so, why is this happening? Well,
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  Speaker 3: there's five reasons, they state for a boom. Bank of
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  Speaker 3: America analysts, citing these five pillars, they say support this
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  Speaker 3: more than bullish case. First is political will. They argue
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  Speaker 3: that the US midterm elections a few quarters away, policymakers
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  Speaker 3: have strong incentive for near term pro growth initiatives. Why
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  Speaker 3: because everybody in Congress, right on the House side is
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  Speaker 3: up for reelection. And there's a lot of members of
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  Speaker 3: the Senate that are up as well. Second, they say,
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  Speaker 3: is Washington's One Big Beautiful Bill Act. Yes, you may
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  Speaker 3: remember the media said it was going to destroy our economy. Nope,
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  Speaker 3: now they're saying the One Big Beautiful Bill. Well, it
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  Speaker 3: is targeting domestic manufacturing and having a huge impact. The
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  Speaker 3: third thing they say is the massive overseas jolt gathering
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  Speaker 3: now with Germany recently enacting the largest stimulus package in
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  Speaker 3: EU history, while global reflationary forces are building elsewhere. Bank
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  Speaker 3: of America says, fourth, they see a broad expansion of
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  Speaker 3: capital expenditures in the US. Companies like Amazon, Meta, Microsoft,
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  Speaker 3: and Alphabet set for nearly seven hundred billion in capital
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  Speaker 3: expenditures between twenty twenty five and twenty twenty six alone.
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  Speaker 3: They also said, in addition, more non US companies plan
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  Speaker 3: to expand manufacturing capacity in the US. Wow, municipalities are
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  Speaker 3: focused on updating aging infrastructure. Now, this goes back to
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  Speaker 3: what Donald Trump promised. If you put American workers in
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  Speaker 3: manufacturing first, and in these tariff agreements that you're doing,
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  Speaker 3: these trade deals you're doing, you make sure that companies
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  Speaker 3: are forced to come back and do work in the
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  Speaker 3: United States of America, it could explode our economy. Bank
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  Speaker 3: of America is saying that is actually working and a reality. Finally,
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  Speaker 3: the last thing on the list the Bank of America
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  Speaker 3: sided is proprietary regime indicator that is a blend of
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  Speaker 3: macro signals including corporate revisions to earnings per share as
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  Speaker 3: well as GDP forecasts and other emerging signals. They say
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  Speaker 3: it's on the verge of flipping from a downturn to
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  Speaker 3: a quote recovery, a change it historically means a rally
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  Speaker 3: in value stocks now the dominant narrative and the indicator
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  Speaker 3: remains conservative. According to the Bank of America team, it
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  Speaker 3: is one they say. In June, seventy percent of fund
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  Speaker 3: managers still predicted stagflation, with only ten percent for seeing
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  Speaker 3: a boom a above trend growth and inflation. Yet Bank
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  Speaker 3: of America argues the catalyst for an upside breakout is
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  Speaker 3: real and now imminent. If the regime Indicator does indeed
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  Speaker 3: flip to recovery in early August, historical presence suggests a
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  Speaker 3: rapid rotation is quote likely. So these are the big
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  Speaker 3: factors that even the banks are now saying are going
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  Speaker 3: to have a huge impact on your life. This also
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  Speaker 3: is going to be a major issue come the midterm elections.
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  Speaker 3: This is exactly why so many people trusted Donald Trump
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  Speaker 3: and voted for him the first time. Well, let's be clear,
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  Speaker 3: the midterms is a referendum on the president's agenda, and
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  Speaker 3: many conservatives have been supporting and advocating for the president,
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  Speaker 3: voting for things like the Big Beautiful Bill. If they
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  Speaker 3: run on it, there's a very good chance the president
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  Speaker 3: will have even more power after the midterms, and that's
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  Speaker 3: good for all Americans.
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  Speaker 4: Now, story number two.
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  Speaker 3: President Donald Trump in Scotland, sitting down talking about how
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  Speaker 3: it's time for a meeting with Chinese President Ggping. He
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  Speaker 3: also said that Ggping has been clamoring for a meeting
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  Speaker 3: in person with him soon and that that may happen
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  Speaker 3: as soon as sometime this year, either in China or
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  Speaker 3: at the White House else in the United States of America. Now,
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  Speaker 3: President Trumps sitting down for an exclusive interview with Bright
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  Speaker 3: Martin News and said, not only am my willing to
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  Speaker 3: meet with you, who have had a long and cordial
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  Speaker 3: personal relationship with despite the rising tensions between the US
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  Speaker 3: and China, He also went into detail about the tariffs
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  Speaker 3: and how it worked and Chinese factory shutting down after
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  Speaker 3: the tariffs he put on the country that lasted thirty
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  Speaker 3: days at extremely high level. And now China is moving
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  Speaker 3: forward with a very good deal for American workers because
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  Speaker 3: Trump has all the leverage. Trump has also made it
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  Speaker 3: clears in no rush to accommodate what China is doing
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  Speaker 3: right now. He said, We've got the leverage. I'm a
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  Speaker 3: deal maker in chief. I want to cut several other
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  Speaker 3: massive trade deals as well, and so we're working with China.
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  Speaker 3: Having these meetings, I want you to hear what the
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  Speaker 3: President had to say. And you may notice he's telling
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  Speaker 3: a story. He's very calm, he's not that excited. He's
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  Speaker 3: explained this takes time, and he's putting American workers and
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  Speaker 3: manufacturers first.
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  Speaker 2: Yet again, so announced in recent weeks deals with Japan,
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  Speaker 2: the Philippines.
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  Speaker 1: So with the Philippines, which was wonderful, and they're opening
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  Speaker 1: up also everyone. We want everyone to open up. Frankly,
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  Speaker 1: we want China open up. If we could get China
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  Speaker 1: to open up, that's what I've been working on, and
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  Speaker 1: it would be good for unity. Good. You know, our
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  Speaker 1: companies would go in there, they'd compete, they become friends.
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  Speaker 1: A lot of good things happen when you open up.
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  Speaker 1: The European Union was essentially closed to doing business with
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  Speaker 1: the United States. You couldn't really get in. They didn't
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  Speaker 1: take cars, they didn't take agriculture, they didn't take very much.
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  Speaker 1: And they've opened up entirely and we'll be able to
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  Speaker 1: sell a full complement of cars, trucks, SUVs, everything, and
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  Speaker 1: ultimately it's going to be good for them. And I
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  Speaker 1: think they're also going to come over and build plants
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  Speaker 1: in the United States. And when you do that, you
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  Speaker 1: don't have to pay the tariffs, and they'll be paying
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  Speaker 1: a fifteen percent tariff and everything.
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  Speaker 2: So you've now with the deals that you've already announced,
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  Speaker 2: and now these latest ones. I would imagine that we're
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  Speaker 2: going to see deals with Highland and Cambodia soon, because
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  Speaker 2: that was the condition for the peace deal. But the
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  Speaker 2: point is that we've already seen close to sixty percent
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  Speaker 2: of worldwide GDP are now in deals with the United States.
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  Speaker 2: Close to two billion people worldwide population wise, are now
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  Speaker 2: in these trade packs that you've negotiated.
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  Speaker 1: The the biggest thing's ever happened. There's never been anything
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  Speaker 1: like it just the deal with Europe. If you look
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  Speaker 1: at that deal, that deal is bigger than any deal
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  Speaker 1: that's ever been made. But the biggest deal of all
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  Speaker 1: is the deal on tariffs. If you look at the
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  Speaker 1: tariff deal, the whole concept of terroiffs, which covers sort
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  Speaker 1: of everybody, the tariff deal that we made is by
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  Speaker 1: far the biggest deal ever made. There's never been a
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  Speaker 1: deal so big. You could buy IBM or one of
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  Speaker 1: our major companies one hundred times, maybe a thousand times,
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  Speaker 1: and it wouldn't equate to the kind of numbers you're
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  Speaker 1: talking about here, and we're taking in the United States.
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  Speaker 1: Is becoming very rich, very fair. Were taken in hundreds
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  Speaker 1: of billions of dollars. You saw last month that a
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  Speaker 1: surplus of twenty six billion dollars, and everyone said where
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  Speaker 1: did they come from? I said, it came from Taro
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  Speaker 1: swit had a surplus for the first time in forty
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  Speaker 1: years of twenty six billion dollars. Everyone was wondering, like,
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  Speaker 1: where did this come from? When I was in Saudi Arabia,
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  Speaker 1: the king and also other people throughout at NATO and
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  Speaker 1: other places, but the head of Qatar also and the
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  Speaker 1: head of UAE and the king in that particular region.
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  Speaker 1: They said almost the same word as they said, you know,
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  Speaker 1: one year ago your country was dead. They actually said dead.
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  Speaker 1: We had a dead country, that country, our country was
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  Speaker 1: maybe not going to make it. They said, now you
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  Speaker 1: have the hottest country in the world, and it's only
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  Speaker 1: been six months, you know, I mean six months, and
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  Speaker 1: we still have things to do. The border is great,
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  Speaker 1: but we have to get a lot of people out
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  Speaker 1: that came in here illegally, and that are criminals at
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  Speaker 1: the highest level, including murderers. We have to get them out.
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  Speaker 1: What the Democrats did to this country is unthinkable. But
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  Speaker 1: and we are getting them out of Tom Holme and
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  Speaker 1: Christie's you know, doing a great job. But we are
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  Speaker 1: really set to have I call it the Golden age,
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  Speaker 1: just as the golden age of America.
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  Speaker 2: On the tariffs front, with all of these successes and
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  Speaker 2: these deals that you're seeing. We saw a lot of
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  Speaker 2: people criticize your tariffs at the beginning of this thing.
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  Speaker 2: Do you think the critics are you know, they got
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  Speaker 2: egg on their face. Are they wrong? Here? Have you
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  Speaker 2: proven them wrong?
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  Speaker 1: Many of them have apologized, Many of them didn't understand tariffs.
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  Speaker 1: Even economists they didn't understand it's a negotiation basically. You know,
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  Speaker 1: when you say that you're going to pay x percent
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  Speaker 1: on any product that you put into our country, they're
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  Speaker 1: taking our jobs, they're closing our plants. When they do this,
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  Speaker 1: you know they have to pay a price for it.
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  Speaker 1: So our country was the richest from around eighteen seventy
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  Speaker 1: to nineteen thirteen. Proportionately it was the richest. That was
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  Speaker 1: a golden age in a sense. We were so rich,
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  Speaker 1: we had so much money, we didn't know what to
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  Speaker 1: do with it. That was when we had a tariff country.
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  Speaker 1: We took from money from outside countries, and in nineteen
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  Speaker 1: thirteen they went to an income tax system and the
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  Speaker 1: rest is history. And you know it. Look it's done fine,
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  Speaker 1: But we owe thirty six trillion dollars. You wouldn't know
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  Speaker 1: thirty six trillion dollars with tariffs, and we'll be paying
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  Speaker 1: off debt and we'll be doing a lot of things
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  Speaker 1: with this money. This money that's coming in is at
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  Speaker 1: levels that nobody's ever seen before. Our country has never
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  Speaker 1: seen money, and you you covered better than anybody. Our
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  Speaker 1: country has never seen money come in at this level.
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  Speaker 1: Would you agree?
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  Speaker 2: I agree with you? Mister President. Yeah, So now your
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  Speaker 2: Treasury Secretary of Scott Bessen is while we're here meeting
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  Speaker 2: with the Chinese delegation on trade in Stockholm, Sweden. I
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  Speaker 2: believe it's this third such trip to meet with them.
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  Speaker 2: What are some of the things you're hoping happens on
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  Speaker 2: that front with China.
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  Speaker 1: Well, we want to have them open up, we want
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  Speaker 1: to have the certain things we want to be fair.
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  Speaker 1: We're getting along very well with China. The trade deals
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  Speaker 1: so far is good. I actually raised the tariffs. At
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  Speaker 1: one point there were hundred and forty five percent, which
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  Speaker 1: means you can't do any business. But it was a
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  Speaker 1: little bit excessive, to put it mildly, and basically that
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  Speaker 1: stopped trade between the United States and China for one month,
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  Speaker 1: and that was not good for China. That was you know,
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  Speaker 1: they had a tough period of time. They were losing factories,
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  Speaker 1: closing factories, and I don't want that to happen. But
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  Speaker 1: we're having very productive discussions with China. That's all I
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  Speaker 1: can tell you. It's a little bit different than China
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  Speaker 1: is different. The European interestingly is the biggest trading deal,
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  Speaker 1: but the China is very important to us.
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  Speaker 2: I know you have a great personal relationship with using ping.
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  Speaker 2: Is that do you envision a time down the road
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  Speaker 2: or an in person meeting between the two of you guys,
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  Speaker 2: possibly in China or possibly at the White House or.
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  Speaker 1: So he wants me to go there, and he's going
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  Speaker 1: to come here and we're just going to work out dates,
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  Speaker 1: but we look forward to it. Actually, it was one
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  Speaker 1: of the most incredible trips in my first term. It
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  Speaker 1: was I think maybe the most incredible trip nobody's ever
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  Speaker 1: I've seen, and Saudi Arabia was incredible also in particular,
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  Speaker 1: those two trips were nobody's ever seen anything like them,
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  Speaker 1: very different but equally incredible. But the China trip was
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  Speaker 1: with the great whole and I don't think you were
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  Speaker 1: there or wasn't, but it was something that was unparalleled.
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  Speaker 1: There's never been anything, and they said they're going to
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  Speaker 1: do it bigger and better this time. So we'll see
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  Speaker 1: what happens, but we'll most likely be going to China
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  Speaker 1: in the not too distant future, maybe before this year
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  Speaker 1: is out, and he'll be coming here.
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  Speaker 3: You won't be surprised by the way after the interview
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  Speaker 3: you just heard the media lied about exactly what the
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  Speaker 3: president was doing. The President having to send out a
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  Speaker 3: true social text saying this quote. The fake news is
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  Speaker 3: reporting that I am seeking a summit with President G
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  Speaker 3: of China. This is not correct. I'm not seeking anything.
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  Speaker 3: I may go to China, but it would only be
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  Speaker 3: at the invitation of Presion G, which has been extended. Otherwise,
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  Speaker 3: no interests. Thank you for your attention to this matter. Yep.
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  Speaker 3: Leave it to the liberal media to take a great
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  Speaker 3: moment where we're getting closer to a better trade deal
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  Speaker 3: that will help America to put out lies the present's
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  Speaker 3: begging for a meeting with you. Thank goodness, we have
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  Speaker 3: a present that continues to put American workers first and
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  Speaker 3: make sure that we are not getting taken advantage of
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  Speaker 3: any longer.
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  Speaker 4: Thank you for listening to the forty seven Morning Update
• 14:26
  Speaker 4: with Ben Ferguson. Please make sure you hit subscribe wherever
• 14:30
  Speaker 4: you're listening to this podcast right now and for more
• 14:33
  Speaker 4: in depth news, also subscribe to the Ben Ferguson podcast
• 14:37
  Speaker 4: and we will see you back here tomorrow.