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Mark interviews economist Steve Moore. · The Mark Simone Show

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  Speaker 1: When he's not on doubleuor he's on your phone or
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  Speaker 1: smart speaker, fick your device and tell it to play
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  Speaker 1: the Mark Simone podcast anytime. It's morea Mark Mark Simone
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  Speaker 1: on seven ten doubleor well. Steve Moore a great economist,
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  Speaker 1: one of the finest in the world. You should get
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  Speaker 1: his latest book that ca you need a good Christmas
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  Speaker 1: present for somebody excellent. Get his book The Trump Economic Miracle.
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  Speaker 1: Excellent book. Also, the best daily briefing comes from his group,
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  Speaker 1: the Committee to Unleashed Prosperity. It's free and have it
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  Speaker 1: come right to your email everyday best news analysis. Just
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  Speaker 1: go to Unleash Prosperity dot com and sign up. Unleash
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  Speaker 1: Prosperity dot com. Steve Moore, how you doing.
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  Speaker 2: Good, Mary Christmas? And boy, we got a nice Christmas
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  Speaker 2: present this morning with that low inflation number waves below expectations.
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  Speaker 2: And we're now down to about two point six percent
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  Speaker 2: inflation under Trump, which is, you know, half of what
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  Speaker 2: it was under Biden five percent. So you know enough
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  Speaker 2: about this affordability crisis. Prices, the rate of inflation has
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  Speaker 2: come down a lot in just the last six months.
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  Speaker 1: Well yeah, but it's an upsetting number. If you're a Democrat,
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  Speaker 1: they were looking for three, weren't they not two points?
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  Speaker 2: Yeah? Exactly. That's a big, big error. And incidentally, you know,
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  Speaker 2: the most recent numbers, you know, for the last couple
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  Speaker 2: of months were really low. That means that, you know,
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  Speaker 2: we're looking at an inflation rate that will stay low
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  Speaker 2: now for the months to come. I'm extremely bullish on
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  Speaker 2: twenty twenty six. I think we're going to see. I
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  Speaker 2: liked what Trump had to say last night that the
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  Speaker 2: best is yet to come. He's exactly right about that.
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  Speaker 2: So feeling good about things, and you know, I can
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  Speaker 2: even now go out nice and Christmas presents and with
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  Speaker 2: what six days the shop left.
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  Speaker 1: Yeah. Hey, but it's a great technique they've come up
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  Speaker 1: with the left and the Democrats, the media combined. You
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  Speaker 1: just drilled something into people's heads and thousand times a day,
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  Speaker 1: affordability crisis exactly, and they start to believe it.
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  Speaker 2: So didn't they use that? Why didn't they use that
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  Speaker 2: term when up Iden was president and inflation went up
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  Speaker 2: to nine percent?
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  Speaker 1: Let me guess he was a Democrat.
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  Speaker 2: It's unbelievable because you know, we've seen we're not bringing
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  Speaker 2: inflation down as quickly as i'd like, But we're seeing
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  Speaker 2: big improvement. And what about gas prices? Now, look, I
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  Speaker 2: know you're there in the New York area where you
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  Speaker 2: still pay what three four dollars a gallon, but in
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  Speaker 2: most places the price of gas is now down to
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  Speaker 2: about two seventy nine a gallon, which is really you know,
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  Speaker 2: remember it hit five dollars.
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  Speaker 1: Remember that Biden oil is fifty five dollars.
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  Speaker 2: Now, amazing, Yeah it was. It was eighty dollars when
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  Speaker 2: he came into office. Now it's fifty five. So that's
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  Speaker 2: what about a thirty percent reduction in the price of oil.
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  Speaker 2: And by the way, when the energy price goes down
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  Speaker 2: like that, mark everything, it's sort of the lead indicator
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  Speaker 2: where prices are headed because energy is a component of
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  Speaker 2: everything way by, from toys to food to you know,
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  Speaker 2: rent and housing. So look, it's a good economy. Trump
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  Speaker 2: was right about that last night. Now, I know people
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  Speaker 2: are hurting. I know people get angry when you say
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  Speaker 2: that because they want to value ground bee for a stake,
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  Speaker 2: and they get angry because it's really expensive. And my
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  Speaker 2: wife is among those people who complains every time she
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  Speaker 2: comes back to the grocery store. But no, we're cooking.
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  Speaker 2: We got to get a good decent jobs report. We
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  Speaker 2: got a really good inflation report, and so it's going
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  Speaker 2: to be a good Christmas Christmas Day for people. And
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  Speaker 2: twenty twenty six, Wow, I just wait the messes yet
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  Speaker 2: to come.
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  Speaker 1: You know, the price of beef went up because the
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  Speaker 1: Biden administration did everything they could to reduce the amount
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  Speaker 1: of cattle we had. Remember they thought cows caused.
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  Speaker 2: Yeah, we have a record number of cows. You know,
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  Speaker 2: if you reduce the number of cows, what do you
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  Speaker 2: think is gonna happen to the beef prices? Simple economics, right.
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  Speaker 1: You know. The President rattled off all these things, Inflation
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  Speaker 1: way down, wages up for construction, all these different things.
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  Speaker 1: But if you watch it's like the NBC Nightly News,
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  Speaker 1: the way they phrase it is the President claimed to
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  Speaker 1: the reduced inflation, the present claim to How did they
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  Speaker 1: get away with that kind of language.
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  Speaker 2: Well, one mistake Trump made, and a lot of us
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  Speaker 2: make this mistake. Trump said, oh, I'm going to bring
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  Speaker 2: prices down now, you know we in fact, you don't
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  Speaker 2: want disinflation. Disinflation is even worse than inflation. I mean,
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  Speaker 2: we had disinflation throughout the Great Depression in nineteen thirties.
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  Speaker 2: What we want is price stability, and we want to
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  Speaker 2: bring that inflation rate down to the fat target of
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  Speaker 2: two percent. And we're well on the way. But that
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  Speaker 2: means that, you know, prices will still rise, but at
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  Speaker 2: a much a lower rate than they did Underbiden. So
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  Speaker 2: you know, I saw this poll the other day. This
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  Speaker 2: is a perfect example of how the media the source thing.
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  Speaker 2: They said, eighty six percent of American people say prices
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  Speaker 2: are everything's more expensive than ever. Well, that's true. I mean,
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  Speaker 2: prices are more expensive today than they were fifty years ago,
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  Speaker 2: you know, and everything gets more expensive over time. The
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  Speaker 2: point is that right now, the most important measurement is
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  Speaker 2: our price is rising faster than people's wages and salaries.
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  Speaker 2: And the answer to that is no. Right now, wages
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  Speaker 2: and salaries are rising faster than inflation, which means we
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  Speaker 2: have more after tax, after inflation income, which means we
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  Speaker 2: have more affordability.
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  Speaker 1: Now.
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  Speaker 2: Look, I understand housing is really expensive for young people.
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  Speaker 2: I understand b physics somanths of healthcare is out of control.
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  Speaker 2: And that's a mystery because gee, I thought we passed
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  Speaker 2: the Affordable Care Act. How could help there prices be
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  Speaker 2: out of control.
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  Speaker 1: Yeah. Now, Steve Moore, you're the expert economist. In one year,
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  Speaker 1: President Trump cut inflation in half, took it from five percent. Yes,
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  Speaker 1: is there anything? Is there any way you could have
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  Speaker 1: done more than that? I mean, you don't. You can't
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  Speaker 1: bring it down any faster than that, can you?
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  Speaker 2: We could have, I mean, we could have. I mean, look,
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  Speaker 2: there's no question that the terrorists did cause some inflation.
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  Speaker 2: And you know, we saw a perfect example of that
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  Speaker 2: is coffee prices rose a lot because we've put a
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  Speaker 2: big tariff on you know, coffee beans coming in from
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  Speaker 2: from Columbia and Brazil and so on. But it's been
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  Speaker 2: a good it's been a good year for the US economy.
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  Speaker 2: How about the fact that the economy has been growing
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  Speaker 2: at three and a half to four percent for the
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  Speaker 2: last nine months.
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  Speaker 1: Now, yeah, Now, the Big Beautiful Bill.
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  Speaker 2: That's a high growth number.
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  Speaker 1: Yeah. Yeah. The Big Beautiful Bill doesn't kick in for
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  Speaker 1: taxpayers until January. And I'm told they'll get a reduction
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  Speaker 1: in their taxes more in the Patriots. Yes, yeah, I'm
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  Speaker 1: told the amount is going to shock people, and how
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  Speaker 1: much of an increase they'll get.
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  Speaker 2: That's exactly right. So the people come up to me
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  Speaker 2: on the street and say, hey, well you know you
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  Speaker 2: were helped to pass that big beautiful bill. Where's my tax?
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  Speaker 2: And I said, just wait, it's coming in January. You know,
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  Speaker 2: the no tax on tips, the no tax on overtime
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  Speaker 2: that you know, people will change the withholding. So most
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  Speaker 2: Americans will get a boost in their paychecks starting in January.
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  Speaker 2: And that's going to be equivalent of about two thousand
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  Speaker 2: dollars for the average family.
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  Speaker 1: That ain't that ain't not no. Now, the only mine
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  Speaker 1: land mine out there that could go off is this
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  Speaker 1: Affordable Care Act. Healthcare costs. What are we going to
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  Speaker 1: do about that?
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  Speaker 2: Well, with one good way to start is to make
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  Speaker 2: sure that we don't pass more Obamacare subsidies, which keep
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  Speaker 2: feeding the beast of the healthcare system. By the way,
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  Speaker 2: most of that money if we passed the increase in
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  Speaker 2: all those subsidies, you know who gets about sixty cents
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  Speaker 2: of every dollar of the increased subsidies the health insurance companies.
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  Speaker 1: So but we have to extend. We have to give
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  Speaker 1: an extension till we figure out a plan. I mean, right,
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  Speaker 1: we're going.
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  Speaker 2: To look, it's a disaster. The healthcare system is a disaster.
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  Speaker 2: They've ruined it. They've ruined it Mark and you know,
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  Speaker 2: it's it's unbelievable because it's the one thing we never have,
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  Speaker 2: how much is it going to cost?
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  Speaker 1: Right?
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  Speaker 2: We never ask when you know, when you go to
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  Speaker 2: the doctor or the physician or the hospital and they
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  Speaker 2: say you need to have a you do you ask
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  Speaker 2: three how much that's gonna cost? Nobody does. That's like
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  Speaker 2: you know, going to the grocery store and saying, oh,
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  Speaker 2: I'll take that and that and that and not looking
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  Speaker 2: at the price tag. So we got to get the
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  Speaker 2: consumer back in the market here, so everybody becomes and
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  Speaker 2: that way, you know, you need insurance for your you
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  Speaker 2: know those rare really expensive things like if you get
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  Speaker 2: canceled out forbid, or break your leg or you have,
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  Speaker 2: you know, a chronic disease, you want to be covered.
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  Speaker 2: But you know, we got to put the patient back
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  Speaker 2: in an equation and why not? How about this? This
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  Speaker 2: is an idea Trump is paid for. If you were
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  Speaker 2: to pay for some of these medical procedures, but with cash,
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  Speaker 2: you would pay twenty five to thirty percent less less.
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  Speaker 2: There are some places, by the way, an MRI. Literally
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  Speaker 2: in Washington, c one hospital charge with eight hundred dollars
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  Speaker 2: for an MRI. The other one costs you five charge
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  Speaker 2: you five thousand dollars. What yeah, I mean it's the
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  Speaker 2: pricing is unbelievable. We need price transparency. That's something Trump's
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  Speaker 2: been really good at. So anyway, I am I'm very optimist. Sick.
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  Speaker 2: Are we going to be on next week?
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  Speaker 1: I don't see. Actually I'll be gone. Yeah.
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  Speaker 2: Oh well, I have a merry, merry Christmas. I have
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  Speaker 2: a happy, happy New Year, and we I'm not going
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  Speaker 2: to get a pay raise for my weekly segment with
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  Speaker 2: you next year.
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  Speaker 1: We're giving you a triple triple next year.
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  Speaker 2: Triplet Wait, triple zero is still zero?
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  Speaker 1: All right, quadruple what you are a great negotiator?
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  Speaker 2: All right? Yeah. So anyway, Mark, have a great, great Christmas,
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  Speaker 2: and you can't wait to talk to the end of
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  Speaker 2: new year, and good things are to come. Bunks, and
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  Speaker 2: merry Christmas to all your listeners. And get the hotline.
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  Speaker 2: It's free.
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  Speaker 1: Yeah, that's a great present for yourself. It's free. Just
• 9:39
  Speaker 1: go to unleash Prosperity dot com and for somebody else
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  Speaker 1: gets Steve Moore's book The Trump Economic Miracle, be a
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  Speaker 1: great Christmas presents, really good book. Uh. Steve Moore, thanks
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  Speaker 1: for being with us. Talk to you next year.
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  Speaker 2: Thanks, Perry, Christmas.
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  Speaker 1: Take care. Uh yeah, I'll be uh actually, today's my
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  Speaker 1: last day of the year. Ken Rizzotto will be here tomorrow,
• 9:59
  Speaker 1: but then now next week and the week after for
• 10:01
  Speaker 1: two weeks, Curtis Sliwa will be filling in every day.
• 10:04
  Speaker 1: That'll be fascinating to hear what he's got to say
• 10:07
  Speaker 1: about the mayor race, the new mayor and everything else.
• 10:11
  Speaker 1: And don't forget Buck and Clay. They'll be here at
• 10:13
  Speaker 1: noon today right after this show. And then you got
• 10:17
  Speaker 1: Sean Hannity Most listened to radio show in America at three,
• 10:20
  Speaker 1: Jimmy Fayala, Great Show every United at nine, and he'll
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  Speaker 1: be with us in the next hour here on seven
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  Speaker 1: ten WR