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Mark interviews Chairman of Forbes Media, Steve Forbes. · The Mark Simone Show

• 0:00
  Speaker 1: Live from the WOR LifeVac studios, the Mark Simone Show. Well,
• 0:06
  Speaker 1: Steve Forbes, of course, the chairman, editor-in-chief, Forbes Media, and
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  Speaker 1: best-selling author. You should get his latest book, Inflation. You'll
• 0:15
  Speaker 1: learn a lot from this book. It's an excellent book.
• 0:17
  Speaker 1: You can get it at Amazon or wherever you get books.
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  Speaker 1: Steve Forbes, how are you doing?
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  Speaker 2: Doing fine, thanks. How are you?
• 0:24
  Speaker 1: I'm good.
• 0:25
  Speaker 2: Enjoy the weather while we can. Yeah.
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  Speaker 1: Hey, Scott Bessett yesterday announced the sanctions on Iran. He
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  Speaker 1: announced the intervention in the– I didn't understand one thing
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  Speaker 1: he said, did you?
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  Speaker 2: Well, on the sanctions against Iran, the president, of course,
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  Speaker 2: calls it D-Day, economic version of D-Day. However, big exception,
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  Speaker 2: Chinese banks. If you're not going to go after the
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  Speaker 2: Chinese banks, then you've just given a whole loophole that's
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  Speaker 2: the size of a dump truck. Yeah. And so I'm afraid, ultimately,
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  Speaker 2: even though Secretary of State Marco Rubio says we're not
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  Speaker 2: going to use force against Iran, I think ultimately, to
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  Speaker 2: get this regime out, we're going to have to go
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  Speaker 2: back to what we stopped doing in April. This is
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  Speaker 2: an evil regime, and sanctions aren't going to do it.
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  Speaker 2: The Pakistanis and the Turks, they say they'll go along,
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  Speaker 2: but you know they really won't. We know what the
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  Speaker 2: Chinese are going to do.
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  Speaker 1: They've been doing it.
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  Speaker 2: And fortunately, the United Arab Emirates, the UAE, which has
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  Speaker 2: been a big pipeline for the Iranians to the outside world,
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  Speaker 2: they say they're going to shut that window to the world.
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  Speaker 2: But somehow those windows get rather leaky. So I'm afraid
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  Speaker 2: we're going to have to go back to finish what
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  Speaker 2: we started in February. Sad but true.
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  Speaker 1: So this is a battle with Canada.
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  Speaker 2: Is it true?
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  Speaker 1: I mean, Canada needs us economically a lot more than
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  Speaker 1: we need them, isn't that the case? No, I.
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  Speaker 2: Don't know how we got into this thing because we're
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  Speaker 2: already in negotiations with Canada and with Mexico on updating
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  Speaker 2: the USMCA agreement, the United States-Mexico-Canada agreement. that President Trump
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  Speaker 2: renegotiated the old NAFTA thing in his first term, did
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  Speaker 2: a pretty good job. And so we're doing the process again.
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  Speaker 2: And how this thing spun out of control the way
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  Speaker 2: it did, I don't know, but I wish we'd stop
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  Speaker 2: it because it's not going to help our senatorial candidates
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  Speaker 2: in Michigan and Maine having this spat. So hopefully they
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  Speaker 2: come quickly to a ceasefire. And they go back to
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  Speaker 2: the backdoor rooms and negotiate the kind of agreement that
• 2:44
  Speaker 2: the president did in his first term, update these things. Yeah.
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  Speaker 1: You know, we've never had a billionaire businessman as president.
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  Speaker 1: Usually it's just a politician who behaves like a politician.
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  Speaker 1: And as you know, many of these billionaire entrepreneurs, they've
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  Speaker 1: got to be doing 50 things at once. They've got
• 3:02
  Speaker 1: to have 27 projects going. So is that the problem
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  Speaker 1: here that maybe President Trump needs to reel in some
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  Speaker 1: of these, just Focus a little more on a couple
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  Speaker 1: of things.
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  Speaker 2: Well, as chief executive, he's got to focus in on
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  Speaker 2: a couple of things. And on the trade front, he's
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  Speaker 2: got plenty of experienced negotiators. But he's right to focus
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  Speaker 2: on Iran. We've got a real problem with China. And
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  Speaker 2: the other thing that he's going to eventually have to
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  Speaker 2: get involved with is the Federal Reserve. As you know,
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  Speaker 2: they're having a big hoo-ha. The Fed and poobahs around
• 3:40
  Speaker 2: the world, financial poobahs and central bank biggies come together
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  Speaker 2: in Jackson Hole, Wyoming, beautiful part of the country at
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  Speaker 2: this time of year. No coincidence they would do that.
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  Speaker 2: And he's giving a speech, Kevin Wurst, the head of
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  Speaker 2: the Federal Reserve, to these eminences on Friday. And I
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  Speaker 2: hope he uses the occasion to announce that. We're no
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  Speaker 2: longer going to buy into the idea that the way
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  Speaker 2: you fight inflation is by raising interest rates and depressing
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  Speaker 2: the economy. The way you fight inflation is stop devaluing
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  Speaker 2: the value of the dollar. Also, make clear that if
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  Speaker 2: we have disruptions from oil or whatever, a war, which
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  Speaker 2: may send prices up for a while, raising interest rates
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  Speaker 2: is not the way you respond. Focus on a stable
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  Speaker 2: value for the dollar. And if he does that, I
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  Speaker 2: think it's going to be, in that world, an earthquake
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  Speaker 2: and ultimately going to help us and the world. Stability
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  Speaker 2: is what we want, not these crazy things of, oh,
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  Speaker 2: we must depress the economy because people are starting to
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  Speaker 2: do well. It's insane for normal people to think that's
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  Speaker 2: what motivates these people.
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  Speaker 1: It is really bizarre. And Steve Forbes, you literally wrote
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  Speaker 1: the book on this. If you want the best book
• 4:55
  Speaker 1: on the subject, get his book, Inflation. You can go
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  Speaker 1: order it right now. Hey, this DSA movement, the socialist nonsense,
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  Speaker 1: even the ultimate weathervane, Hillary Clinton, was jumping on the
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  Speaker 1: bandwagon yesterday. Where is this movement going?
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  Speaker 2: What it's doing is, I almost think they're secretly working
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  Speaker 2: for the Republican Party. You saw that interview with Jesse
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  Speaker 2: Waters and Dr. El-Said, the Democratic socialist communist candidate for
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  Speaker 2: Senate in Michigan. And what a bizarro bunch of answers
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  Speaker 2: that guy gave. And people want prosperity. People want stable prices.
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  Speaker 2: I can't believe we're discussing issues like should men play
• 5:44
  Speaker 2: in women's sports. Come on. And circumcision. I mean, that
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  Speaker 2: just is weirdo. But anyway, it's amazing. You think socialism
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  Speaker 2: and communism after the horrors of the last century. But
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  Speaker 2: they're like bad ideas, Mark, are like Hollywood movies. The
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  Speaker 2: monsters keep coming back from the swamp in new disguises
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  Speaker 2: to terrorize us. So the monster's back again from the swamp.
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  Speaker 2: We're going to have to fight it again.
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  Speaker 1: Hey, Steve Forbes, reassure us again. You did this a
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  Speaker 1: couple of times. AI, you know, everybody's trying to gin
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  Speaker 1: up this AI panic, fear, the data centers, the AI.
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  Speaker 1: It's going to take over, kill us all. What's the reason?
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  Speaker 1: What should we really be feeling about AI?
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  Speaker 2: AI is potentially, and is already having real effects, a
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  Speaker 2: fantastic tool if used right. Like anything, if you misuse it,
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  Speaker 2: bad things are going to happen. But use it right,
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  Speaker 2: it's fantastic. And you're starting to see it in some
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  Speaker 2: of the things they're doing in healthcare, both in being
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  Speaker 2: able to determine what medicine might work for you that
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  Speaker 2: would be a disaster for me. And there was a
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  Speaker 2: case a few months back. I won't get technical on
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  Speaker 2: it because I'm not a doctor, but a baby was
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  Speaker 2: born with a very, very rare genetic disorder. They were able,
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  Speaker 2: thanks to AI, to find what they call the genetic letter,
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  Speaker 2: deal with that letter, and the baby is alive, who
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  Speaker 2: would have normally been doomed. So there's some fantastic things
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  Speaker 2: coming along. in terms of making drugs faster, in terms
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  Speaker 2: of making them more effective. And so I'm at an
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  Speaker 2: age where I think that's splendid. I want more of that.
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  Speaker 1: Hey, but people were afraid in 2000 of the digital stuff,
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  Speaker 1: the computers taken over the, there was fear then. And you,
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  Speaker 1: explain that again. You pointed out when electricity was invented,
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  Speaker 1: there was panic over it.
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  Speaker 2: Yes. And there was fear that electricity could be used
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  Speaker 2: to turn and inanimate objects into a living thing. So
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  Speaker 2: you had these medical students get cadavers, give it a
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  Speaker 2: jolt of electricity, and see it bounce around, and they thought,
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  Speaker 2: oh my goodness, we could bring people back from the dead.
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  Speaker 2: And it led to a great novel called Frankenstein. Electricity
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  Speaker 2: could create these monsters.
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  Speaker 1: Well, it didn't.
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  Speaker 2: Great entertainment came from it, but Frankenstein didn't take over
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  Speaker 2: the world.
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  Speaker 1: That's such a great story. That's an amazing point. So
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  Speaker 1: relevant today. But Steve Forbes, great stuff as always. Hey,
• 8:31
  Speaker 1: make sure you follow him on Twitter. He's got a
• 8:33
  Speaker 1: really good Twitter feed. You'll learn a lot. Steve Forbes
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  Speaker 1: at Twitter. Get his book, Inflation. And of course, read
• 8:40
  Speaker 1: Forbes online. Get a subscription. Sign up for Forbes. And
• 8:44
  Speaker 1: Steve Forbes, thanks for being with us.
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  Speaker 2: Thank you, Mark. Keep up the good fight.
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  Speaker 1: We need it these days. All right. Thanks. Take care. Yeah,
• 8:53
  Speaker 1: one of the smartest guys on earth, Steve Forbes. Hey,
• 8:56
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• 8:59
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• 9:02
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• 9:05
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• 9:24
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