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Mark interviews economist Steve Moore. · The Mark Simone Show

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  Speaker 1: The Mark Simone Show on Wrway.
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  Speaker 2: With Us right now that ye have brilliant economist Steve Moore.
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  Speaker 2: Get his latest book, The Trump Economic Miracle. Read it
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  Speaker 2: You'll learn a lot. You love that book. And he
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  Speaker 2: runs the Committee to Unleash Prosperity and their website unleash
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  Speaker 2: Prosperity dot com. You can go there and sign up
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  Speaker 2: for the hotline. It is the best daily news, briefing,
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  Speaker 2: analysis free comes right to your email every day. Free
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  Speaker 2: go sign up for it Unleash Prosperity dot com. Steve Moore,
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  Speaker 2: how you doing, Hey.
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  Speaker 1: Mark, I'm doing well, by the way that you know,
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  Speaker 1: we've got some really good news on the economy this week.
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  Speaker 2: Yeah.
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  Speaker 1: Obviously, the stock markets through the roof, and then you know,
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  Speaker 1: the consumer Price Index show just a slight increase in
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  Speaker 1: prices in the month of July, bringing the overall in
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  Speaker 1: place rate found close to three percent. And then we
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  Speaker 1: got the producer Price Index that came out just very
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  Speaker 1: recently showing who was flat in other words, no increase
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  Speaker 1: in prices. And if when when producer prices come down,
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  Speaker 1: as you know now, that means that you know, consumer
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  Speaker 1: prices usually follow because those those savings get passed on
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  Speaker 1: to consumer. So that's good news. We've got a lot
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  Speaker 1: of investment coming into the country. We got a lot
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  Speaker 1: of going on in manufacturing, construction. So feeling good about
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  Speaker 1: things were we. As I said last week on your show,
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  Speaker 1: I'll say it again, we have the best economy in
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  Speaker 1: the world right now of all the major countries. And
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  Speaker 1: yet consumers aren't feeling the love.
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  Speaker 2: Well, that's because you can give all that great news.
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  Speaker 2: And I was watching Cudlow yesterday and he gave all
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  Speaker 2: this great economic news, great inflation reportment. Then I watched
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  Speaker 2: the CBS, NBC, ABC Evening News. All I hear is
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  Speaker 2: affordability crisis. Yeah, right, well what do you do about it?
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  Speaker 1: Even there? Even then, let me let me tell you
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  Speaker 1: kind of interesting statistic. So four years ago, exactly four
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  Speaker 1: years ago this month, do you know what do you
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  Speaker 1: want to think? I guess what the inflation rate was
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  Speaker 1: four years ago under Biden at this.
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  Speaker 2: In this month, six percent.
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  Speaker 1: Nine Well, so we're at three percent today and we're
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  Speaker 1: at nine percent. You know, it's the highest rate of
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  Speaker 1: inflation we had since Jimmy Carter was president. And so
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  Speaker 1: if you're angry about prices, yeah, the guy to blame
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  Speaker 1: was that was Biden. You know that the food prices
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  Speaker 1: went way up, medical care prices went up, housing prices
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  Speaker 1: went way up. You know, even energy prices were higher
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  Speaker 1: on average under under Biden than Trump. So, you know,
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  Speaker 1: I get it. The people are ungry about affordability. The
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  Speaker 1: people in my family are upset about it. But I
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  Speaker 1: think the villain really here is is Biden and as
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  Speaker 1: we and by the way, I want to do a
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  Speaker 1: nod to to Kevin Warsh, who's the FED chairman, who's
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  Speaker 1: off to a great start that The Wall Street Journal
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  Speaker 1: had a very good editorial about this. You know, they
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  Speaker 1: were saying, Oh, he's going to just you know, run
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  Speaker 1: up the money supply for Trump. No, he's he's getting
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  Speaker 1: inflation down, which is exactly what he promised he would do.
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  Speaker 1: I think you're going to be an inflation hawk. Keep
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  Speaker 1: keep prices stable, and that's that's what we want from
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  Speaker 1: the Fed.
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  Speaker 2: Well, now, besides inflation, good numbers and prices down. Aren't
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  Speaker 2: wages up since the Biden days?
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  Speaker 1: Yes, yes they are. So if you look at our report,
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  Speaker 1: people should go to our own leased prosperity report. We
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  Speaker 1: have the monthly numbers and what's happened to median income
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  Speaker 1: in the United States. So those people you know right
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  Speaker 1: exactly in the middle of the income spectrum. And do
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  Speaker 1: you know what the media and income in the United
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  Speaker 1: States is today for a household, I have no idea.
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  Speaker 1: Just take a while, guess.
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  Speaker 2: Eighty thousand dollars.
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  Speaker 1: Yeah, you're pretty close eighty but you're too low. It's
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  Speaker 1: actually eighty six thousand, five hundred dollars. So that's a
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  Speaker 1: remarkable number because in most countries in the world mark
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  Speaker 1: if you have eighty six thousand, five hundred dollars, you're
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  Speaker 1: pretty rich.
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  Speaker 2: Now, Steve Moore, there's also these studies that show, you know,
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  Speaker 2: when people you know getting squeezed and the financial that
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  Speaker 2: the biggest expense they have his taxes now, which we've
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  Speaker 2: never had that situation before where taxes.
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  Speaker 1: Yeah, we had something again on our highline about this
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  Speaker 1: that if you take the taxes on average that a
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  Speaker 1: family pays, it is more than they pay for housing, food,
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  Speaker 1: and healthcare combined. What that's ridiculous, absolute icular, The number
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  Speaker 1: one expenditure of a family today is the taxes that
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  Speaker 1: we pay.
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  Speaker 2: Unbelievable. And we've never been in that situation before ever
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  Speaker 2: in this country.
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  Speaker 1: Have we? So, now that's the average. Some people pay
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  Speaker 1: less than that. Obviously some people pay more, and obviously
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  Speaker 1: the rich pay a lot of taxes. But when you
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  Speaker 1: think about it, you know, are you getting your money's worth? Folks?
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  Speaker 1: I mean I don't think I am no.
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  Speaker 2: And when they talk about eraising taxes, raising revenue New York,
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  Speaker 2: it's a spending problem. They overspend like crazy. When you
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  Speaker 2: try to fix that, like Elon Musk, did you get
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  Speaker 2: run out of town? So how do you ever fix
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  Speaker 2: that government spending? It will never cure that, will we?
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  Speaker 1: Yeah? Well, you're making a really good point. And you
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  Speaker 1: know when they keep talking about raising taxes to deal
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  Speaker 1: with this, and that's what the left is saying, yew tax,
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  Speaker 1: the red tax, this guy, that guy, that guy. Wait
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  Speaker 1: a minute. First of all, as you know, we've talked
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  Speaker 1: about this week after week on your show. There's no
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  Speaker 1: revenue problem in Washington. We have plenty of revenues. It's
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  Speaker 1: just we're spending. We have record amounts of revenues. In fact,
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  Speaker 1: it's just the spending goes up so fast. And so
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  Speaker 1: if you think you're going to solve this problem that
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  Speaker 1: we have the overspending and debt problem we have in Washington,
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  Speaker 1: which is a real curse. If you think you're going
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  Speaker 1: to solve that by just raising taxes, it ain't gonna work.
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  Speaker 1: I mean Reagan said this best in the early nineteen
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  Speaker 1: eighties when he was president. He said, you know, raising
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  Speaker 1: taxes to solve a debt problem is like you know,
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  Speaker 1: giving an alcoholic another drink.
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  Speaker 2: Yeah, that's a good way to put it. Hey, Also,
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  Speaker 2: the green scheme never goes away. In Europe, they finally
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  Speaker 2: started tearing down the windmills that got rid of those
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  Speaker 2: solar panels. It doesn't work. But why is New York
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  Speaker 2: State destroying taking away farms and just covering them with
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  Speaker 2: solar panels. What is that all about.
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  Speaker 1: Well, the good news is the trend is really dramatically
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  Speaker 1: in favor of producing them as much energy as we
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  Speaker 1: can here, and that includes our you know, nuclear power.
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  Speaker 1: We want to of course produce more oil, more gas.
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  Speaker 1: I think we should be producing more coal in this country.
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  Speaker 1: And coal was at one time in America our number
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  Speaker 1: one source of energy was what created and really powered
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  Speaker 1: the big movement in the American economy, and the Industrial
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  Speaker 1: Revolution was powered by coal. We want to have clean
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  Speaker 1: coal and we do have clean coal, so let's use
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  Speaker 1: it all. Let's use our oil or gas, our coal
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  Speaker 1: and nuclear power. You know, when appropriate we can use
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  Speaker 1: solar and when. But you know, i'd laugh because you know,
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  Speaker 1: so many of your listeners are there right in the
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  Speaker 1: state of New York. You know, Kathy Hochl on the
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  Speaker 1: one has no more data centers, no, no, on the weekend,
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  Speaker 1: have data centers here, blah blah blah. And then she
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  Speaker 1: wants to pave over half, you know, half of the
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  Speaker 1: state with solar panel and you're thinking, well, all those
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  Speaker 1: prime farmland and down an upstate New York out of
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  Speaker 1: circulation so they can build solar powers. Does that make
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  Speaker 1: any sense? By the way, I've been upstate New York.
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  Speaker 1: Sun doesn't shine all that much. I don't know if
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  Speaker 1: the solar panels are going to get that much energy.
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  Speaker 2: Hey, speak of those data centers. We've had these data
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  Speaker 2: centers in parts of America now for many, many, many
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  Speaker 2: many months. What's the impact? I mean, is it ruin
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  Speaker 2: these counties? Does it helped the counties that have them?
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  Speaker 1: So that's so interesting you should answer ask me that question.
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  Speaker 1: Because Mark, on Tuesday night of this week, we did
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  Speaker 1: a focus group in a Colepepper, Virginia, which is a
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  Speaker 1: kind of rural agricultural town about fifty miles outside of DC,
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  Speaker 1: and we had about twenty people. Most of them were
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  Speaker 1: either retirees or working class folks, very nice people, and
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  Speaker 1: we asked them about data centers and what do you
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  Speaker 1: think of them? And oh, my gosh, the hostility was unbelievable.
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  Speaker 1: And actually they have several data centers already Cold Pepper.
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  Speaker 1: Oh no, these people are trying to rob our future.
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  Speaker 1: And there's too much noise and they're using too much water,
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  Speaker 1: and you know, I'm thinking gee. And then I said,
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  Speaker 1: do you want do you know why we have data centers?
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  Speaker 1: Everybody kind of they didn't know. Why do we have
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  Speaker 1: done it? Well? Do you like your cell phone?
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  Speaker 2: Yeah?
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  Speaker 1: I love my cell phone. I can't live without that.
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  Speaker 1: Do you like the Internet? Yeah, I can't live with that.
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  Speaker 1: Do you like GPS? Yeah? Yeah? Yeah. Well people don't
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  Speaker 1: realize without the data centers, uh, Mark, those things don't work.
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  Speaker 1: It's like you know sometimes when you're when you go
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  Speaker 1: to in an area and you don't get cell coverage,
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  Speaker 1: you know, and it just makes you so angry. Well,
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  Speaker 1: we're going to lose our cell coverage and things like that.
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  Speaker 1: If we don't build these data centers, but we better
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  Speaker 1: build them where people want them. You know. So if
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  Speaker 1: a community says, now we don't want them, like I
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  Speaker 1: think the Coco say no more data centers in New York,
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  Speaker 1: I mean that's crazy. Data centers are the heartbeat of
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  Speaker 1: the then the ignition switch to our technology age. And
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  Speaker 1: if we don't build them, you know who will build them? China? Uh.
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  Speaker 2: But the left always has to have one of these demons,
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  Speaker 2: one of these. It was nuclear plants ten years ago, fifty.
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  Speaker 1: Yeah, exactly, yeah, yeah. You know what's so interesting about
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  Speaker 1: this mark is that, you know a lot of these
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  Speaker 1: kind of communities, rural communities that you know, have sort
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  Speaker 1: of passed their prime and people have been leaving, and
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  Speaker 1: they're trying to bring businesses back, and they're trying to
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  Speaker 1: bring some economic development back. You know. They what they're
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  Speaker 1: doing a lot of these you know, little towns across
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  Speaker 1: America that are in decline is they're building prisons in
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  Speaker 1: these you know, because that does provide construction jobs and
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  Speaker 1: car jobs and things like that. And I'm like, wait
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  Speaker 1: a minute, you'd rather have a you know, maximum security
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  Speaker 1: prison in your area rather than the data center.
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  Speaker 2: For these data centers, they actually do employ a lot
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  Speaker 2: of people. I've seen some pictures with them. Oh yeah,
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  Speaker 2: they've got like a thousand car parking lot in some
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  Speaker 2: of these data centers.
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  Speaker 1: And well they well, especially during the construction phases of them.
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  Speaker 1: They you know, when we visited the data center at
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  Speaker 1: in Loudon County, I mean I've never seen so many
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  Speaker 1: construction trucks and hard had you know, guys that are
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  Speaker 1: making seventy five hundred bucks an hour and so. But
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  Speaker 1: when you go in the data center that itself, there
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  Speaker 1: aren't a lot of employees. They're like big warehouses with
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  Speaker 1: massive amounts of computers and stuff. And I was listening
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  Speaker 1: to one of these opponents of data center saying, oh,
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  Speaker 1: you know, we can't have because all the construction jobs
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  Speaker 1: are just temporary. And the union guy said, ma'am, every
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  Speaker 1: construction job is temporary.
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  Speaker 2: Well, unless the government is building it, then it could
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  Speaker 2: be a ten year jon that goes on forever. So
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  Speaker 2: great stuff. Steve Moore, are you right working on another book?
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  Speaker 1: That can be a little pause right now. Our latest
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  Speaker 1: group book, of course, was Without Laugher, and that was
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  Speaker 1: called the Trump Economic Miracle, and I'm here to tell
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  Speaker 1: you it is a miracle.
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  Speaker 2: Yeah, everybody should get that book and read it because
• 10:50
  Speaker 2: you'll really learn a lot. And it's well written and
• 10:52
  Speaker 2: it's easy to understand a lot, and you have great
• 10:55
  Speaker 2: charts and graphs and all sorts of things. So if
• 10:57
  Speaker 2: you really want to understand it all and sound much smarter,
• 11:00
  Speaker 2: get Steve Moore's book, The Trump Economic Miracle. And you
• 11:03
  Speaker 2: and your group you put out the best daily news
• 11:05
  Speaker 2: briefing every day with great stories, and it's free. Come
• 11:09
  Speaker 2: write to your email go to Unleash prosperity dot com.
• 11:13
  Speaker 2: Unleash prosperity dot com. Well, Steve Moore, keep up all
• 11:16
  Speaker 2: the great work and thanks for being with us.
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  Speaker 1: Thank you, MAK, have a great weekend.
• 11:21
  Speaker 2: Take care all right, take care. Yeah, it really is
• 11:24
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