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Mark interviews economist Steve Moore. · The Mark Simone Show

• 0:01
  Speaker 1: Well, Steve Moore, the brilliant economist, best-selling author, you should
• 0:05
  Speaker 1: get his book, The Trump Economic Miracle. You'll learn a
• 0:08
  Speaker 1: lot about all of this from that book. And make
• 0:11
  Speaker 1: sure you sign up for, he runs the Committee to
• 0:14
  Speaker 1: Unleash Prosperity, and every day they put out the best
• 0:16
  Speaker 1: daily newsletter and analysis. It's news issues analysis. You'll really
• 0:21
  Speaker 1: love it. It's free. It comes right to your email.
• 0:23
  Speaker 1: Just go to UnleashProsperity.com and sign up. UnleashProsperity.com. Steve Moore,
• 0:30
  Speaker 1: how you doing?
• 0:31
  Speaker 2: Well, good morning, Mark. I am in Dallas for the
• 0:34
  Speaker 2: big convention, and I'm getting very excited about my $ 5, 000 check.
• 0:37
  Speaker 1: Yeah, well, but now they're calling it a bribe, as
• 0:42
  Speaker 1: is discussed, but every president candidate does this. Obama with
• 0:46
  Speaker 1: the phones. Obama phones, right? I forgot about that. Yeah,
• 0:50
  Speaker 1: Biden with the student loan forgiveness. They all do this,
• 0:53
  Speaker 1: but how.
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  Speaker 2: Would you actually... We shouldn't... We shouldn't, as Republicans, try.
• 0:57
  Speaker 1: To outbid the Democrats. Because you know what?
• 0:59
  Speaker 2: The Democrats are going to say, you vote for us,
• 1:01
  Speaker 2: we'll give you $ 10, 000.
• 1:02
  Speaker 1: How would you actually execute that? You can't actually do that.
• 1:08
  Speaker 2: What's that?
• 1:09
  Speaker 1: How would you actually execute that?
• 1:11
  Speaker 2: Yeah, well, it would cost a trillion dollars if you
• 1:14
  Speaker 2: did the $ 5, 000 bonus. um look i think the economy
• 1:20
  Speaker 2: is decent speech by the president economy really is strong
• 1:24
  Speaker 2: it's a much much stronger than the media is portraying
• 1:26
  Speaker 2: it as now we i am nervous about the the
• 1:29
  Speaker 2: oil price it continues to rise we're up about let's
• 1:32
  Speaker 2: say oh a hundred dollars now that's a bad bad
• 1:34
  Speaker 2: bad bad bad sign yeah the first thing i usually
• 1:37
  Speaker 2: look at when i get up in the morning is
• 1:38
  Speaker 2: what's happening to the crude oil price uh because we
• 1:42
  Speaker 2: can't see inflation come down until that oil price comes
• 1:44
  Speaker 2: down so That's disturbing. But, you know, everything else in
• 1:49
  Speaker 2: the economy is going so well. That's what's so frustrating.
• 1:52
  Speaker 2: I mean, we've got more jobs. I don't think I've
• 1:54
  Speaker 2: talked to you since we came out with the jobs
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  Speaker 2: report last Friday. That was a blockbuster number, really good number.
• 2:00
  Speaker 2: And we have more jobs available than people willing and
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  Speaker 2: looking for work. So, you know, it depends on what
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  Speaker 2: your profession is, obviously. But it is a situation where
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  Speaker 2: all the investment money around the world is coming to
• 2:12
  Speaker 2: the United States. So that's a good thing.
• 2:14
  Speaker 1: Isn't this one of the few job reports where it's
• 2:17
  Speaker 1: way up in its actual private sector? It's not government jobs?
• 2:21
  Speaker 2: There were some added government jobs, although Trump has really
• 2:24
  Speaker 2: drained the swamp. He's reduced the federal employment level to
• 2:28
  Speaker 2: its lowest level in like 50 years. Did you know that? No.
• 2:32
  Speaker 2: So he has been draining that swamp, and that's been
• 2:35
  Speaker 2: a good thing. There was a slight tick up in
• 2:37
  Speaker 2: state and local hiring in the last report, but it
• 2:39
  Speaker 2: was almost all private sector jobs. By the way, we
• 2:41
  Speaker 2: have something in our hotline, and I know you read
• 2:43
  Speaker 2: it very religiously.
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  Speaker 1: I do.
• 2:45
  Speaker 2: You probably haven't seen it yet because it just came out.
• 2:46
  Speaker 1: I just saw it.
• 2:47
  Speaker 2: But do you know what the premium is for government
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  Speaker 2: employees over what private sector workers make?
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  Speaker 1: Well, you see, I get the hotline every day.
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  Speaker 2: You haven't seen it yet.
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  Speaker 1: Forty percent.
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  Speaker 2: Forty percent.
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  Speaker 1: I read it in your hotline just now.
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  Speaker 2: There you go. That's amazing. I mean, I just want
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  Speaker 2: to make sure people understand. Okay. when you look at,
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  Speaker 2: you know, equally skilled people like a carpenter who works
• 3:12
  Speaker 2: for the government versus, you know, a carpenter in the
• 3:15
  Speaker 2: private sector or an accountant who works for the government
• 3:17
  Speaker 2: and an accountant in the private sector. So comparing apples
• 3:20
  Speaker 2: with apples, the private sector worker is paid about 25%
• 3:25
  Speaker 2: less than the government worker. But you know where the
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  Speaker 2: real disparity is? No. The benefits. The benefits. So you
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  Speaker 2: get That's lavish benefits. First of all, there's no, virtually
• 3:39
  Speaker 2: no one gets, until Trump came around, nobody ever gets
• 3:41
  Speaker 2: fired from the government. And then you have all these other,
• 3:45
  Speaker 2: you know, things that are going on as well, you know,
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  Speaker 2: like lavish retirement benefits. So those are about 70% higher.
• 3:52
  Speaker 2: So the problem with this is that, you know, who
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  Speaker 2: pays the government workers, the private sector workers? You can
• 3:58
  Speaker 2: only have a government worker if you have somebody in
• 4:00
  Speaker 2: the private sector working to pay their, so that's just
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  Speaker 2: not fair. I mean, that we're so overpaying these folks
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  Speaker 2: who are working for what I call club fed.
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  Speaker 1: I like that. Also, the manufacturing boom that we have
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  Speaker 1: going on now, that's great.
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  Speaker 2: Very real. That's another story that isn't being reported. We're
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  Speaker 2: in a manufacturing boom again. Remember, all these presidents always say,
• 4:29
  Speaker 2: we're going to bring back the good-paying jobs in manufacturing.
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  Speaker 2: They're back. In fact, there's been a big surge in
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  Speaker 2: employment and a big surge in pay for construction workers
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  Speaker 2: and manufacturing workers. And by the way, you know one
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  Speaker 2: of the biggest new sources of new jobs is? Data centers.
• 4:48
  Speaker 1: Oh, of course.
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  Speaker 2: Data centers. They're hiring like crazy. And the idiot governor
• 4:53
  Speaker 2: in New York says, no, we don't want data centers.
• 4:56
  Speaker 2: She's saying, we don't want the jobs. We don't want
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  Speaker 2: those jobs. Meanwhile, she wants to have 10,000 acres of
• 5:04
  Speaker 2: wind farms, but no, we can't have data centers. By
• 5:07
  Speaker 2: the way, there are data centers throughout New York. People
• 5:10
  Speaker 2: don't even realize they're there, but they're major sources of
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  Speaker 2: tax payments. They're major sources of jobs, and they're major
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  Speaker 2: sources of of blue collar workers. So I don't understand
• 5:21
  Speaker 2: why Kathy Hochul says no, no data centers.
• 5:24
  Speaker 1: Well, they did this with nuclear power.
• 5:27
  Speaker 2: Exactly. So, you know, let's hope that analogy doesn't hold
• 5:32
  Speaker 2: true because you remember that movie, the China syndrome with
• 5:36
  Speaker 2: Jane Fonda. Well, that, that movie shows how culture can
• 5:39
  Speaker 2: change things. I mean, that movie almost single-handedly destroyed the
• 5:42
  Speaker 2: nuclear energy industry. You know, for 25 years after that,
• 5:46
  Speaker 2: we didn't build any nuclear plants. And now I think
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  Speaker 2: another analogy, Mark, is the fracking revolution. Remember when fracking started?
• 5:54
  Speaker 1: Yeah.
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  Speaker 2: Oh, we're going to have earthquakes. All the water is
• 5:57
  Speaker 2: going to be polluted. Oh, no, your water is going to...
• 6:00
  Speaker 2: They remember they would light the Bic lighter next to
• 6:02
  Speaker 2: the water from the faucet and would light up all
• 6:04
  Speaker 2: these focus... You know, well, we've created a $ 5 trillion...
• 6:08
  Speaker 2: Thank God we didn't listen to the fear mongers because
• 6:11
  Speaker 2: the U.S. economy has benefited by $ 5 trillion from fracking.
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  Speaker 2: But they tried to make it a dirty word, just
• 6:18
  Speaker 2: like they're making data centers a dirty word.
• 6:20
  Speaker 1: So these data centers, they figure out how to recycle
• 6:23
  Speaker 1: water so they don't need too much water. They'll figure out.
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  Speaker 2: Most of it is recycled.
• 6:26
  Speaker 1: Yes. They'll figure out.
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  Speaker 2: I went to a data center, Mark. I think I've
• 6:30
  Speaker 2: told you this. You know, I was out at the
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  Speaker 2: big one in Loudoun County, one of the biggest and
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  Speaker 2: first big data centers in the country. And first of all,
• 6:37
  Speaker 2: I never saw so many construction workers in my life.
• 6:39
  Speaker 2: You know, they say, oh, these are just temporary jobs. No,
• 6:41
  Speaker 2: they're not because they're constantly expanding, improving the facilities and
• 6:44
  Speaker 2: so on. You know, trucks coming in and out and,
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  Speaker 2: you know, the hard hat workers and they're making, you know,
• 6:48
  Speaker 2: 7,500 bucks an hour. And then, you know, you see
• 6:53
  Speaker 2: how much they're paying in taxes. They pay property taxes.
• 6:56
  Speaker 2: They pay huge, you know, bills for the, they pay
• 7:01
  Speaker 2: income taxes, et cetera, et cetera. So they are real
• 7:04
  Speaker 2: boons to the local communities, but people don't really realize that.
• 7:09
  Speaker 1: Yeah. Well, so they figured out the water problem. They'll
• 7:12
  Speaker 1: figure out how to power themselves. So that solves the
• 7:14
  Speaker 1: electricity problem. The problem is the noise.
• 7:16
  Speaker 2: Remember, that's what they said about the tracking. Oh, the
• 7:19
  Speaker 2: water is all going to get polluted. Now, most of
• 7:21
  Speaker 2: what you see in the data centers is that they
• 7:24
  Speaker 2: are recycling most of the water. They are not users
• 7:28
  Speaker 2: of water. But look, we're not running out of water.
• 7:31
  Speaker 2: We have plenty of water. But most of it just
• 7:36
  Speaker 2: is recirculated through the system. And by the way, just
• 7:39
  Speaker 2: so people understand, the reason they need the water is,
• 7:42
  Speaker 2: you know what they need it for?
• 7:42
  Speaker 1: To cool things down?
• 7:45
  Speaker 2: Yeah, exactly, Mark, because those computers, I mean, you see
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  Speaker 2: like football fields long of computers. That's what they're doing.
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  Speaker 2: They're processing all this data, you know, billions of transactions.
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  Speaker 2: Every time, I wouldn't be talking to you on the
• 7:58
  Speaker 2: cell phone right now if it weren't for data centers.
• 8:01
  Speaker 2: That's what's so crazy. People are like, I hate data centers.
• 8:04
  Speaker 2: I don't want data centers. They're terrible. Well, do you
• 8:07
  Speaker 2: like your cell phone? Yeah. Do you like your internet? Yeah.
• 8:10
  Speaker 2: Do you like your GPS system?
• 8:11
  Speaker 1: Yeah.
• 8:12
  Speaker 2: Do you like the fact that we have a system
• 8:14
  Speaker 2: of radars that we can detect missiles coming in? Yeah.
• 8:17
  Speaker 2: None of that works without data centers.
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  Speaker 1: So the only problem is the noise. The big turbines
• 8:22
  Speaker 1: make this noise. But Elon Musk has announced he's going
• 8:25
  Speaker 1: to figure out how to build his own turbines. Knowing him,
• 8:28
  Speaker 1: he'll figure out how to make them quiet. And then
• 8:31
  Speaker 1: what's the objection after that?
• 8:33
  Speaker 2: Also, he wants to build them in space. Yeah. So
• 8:36
  Speaker 2: who cares how loud they are in space? It's the
• 8:38
  Speaker 2: old thing, you know, in space, nobody can hear you scream.
• 8:43
  Speaker 1: So, well, the Democrats always have to create a boogeyman,
• 8:49
  Speaker 1: something to be afraid of, whether it's the nuclear plant.
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  Speaker 2: But you know what I don't understand is why they
• 8:54
  Speaker 2: would do that, because these are blue-collar jobs. I thought
• 8:57
  Speaker 2: the Democrats wanted more jobs. I thought they wanted the
• 8:59
  Speaker 2: high-paying jobs. I thought they cared about the middle class.
• 9:01
  Speaker 2: These are people making $ 75, 000, $ 80, 000, $ 100, 000, $ 125, 000 a year.
• 9:05
  Speaker 2: And they're getting overtime. Some of them are making $ 150, 000.
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  Speaker 2: That's not bad pay.
• 9:11
  Speaker 1: No, but Democrats like Schumer and Pelosi, they care about
• 9:14
  Speaker 1: getting reelected. Whatever they got to do to get reelected.
• 9:17
  Speaker 1: There you go. The convention, you're going to be there
• 9:20
  Speaker 1: for two days? You'll be there tonight?
• 9:22
  Speaker 2: Yeah, I'll be. Well, I was here last night. I
• 9:24
  Speaker 2: may sneak out a little early today. I think Trump
• 9:27
  Speaker 2: is speaking again tonight. Have you heard that?
• 9:30
  Speaker 1: Yeah.
• 9:31
  Speaker 2: But you know what the temperature is here because of
• 9:33
  Speaker 2: climate change? 100?
• 9:35
  Speaker 1: 101 degrees. Okay.
• 9:39
  Speaker 2: We need more windmills to stop that warming trend. Yeah.
• 9:44
  Speaker 1: Hey, the whole idea here at the convention, all these
• 9:46
  Speaker 1: people in the room are delegates. You've got to fire
• 9:48
  Speaker 1: them up, make sure they get out there and work hard.
• 9:50
  Speaker 1: Do you feel that spirit in the room.
• 9:52
  Speaker 2: When you're there? People are nervous, and they should be.
• 9:56
  Speaker 2: You know, look, you know, the pattern is very clear
• 9:59
  Speaker 2: in almost every midterm election for the last 40 years.
• 10:02
  Speaker 2: The party out of power, which would be the Democrats,
• 10:04
  Speaker 2: picks up a lot of seats. I mean, I was
• 10:07
  Speaker 2: there in 94. Remember, Republicans picked up like 60 seats
• 10:10
  Speaker 2: or something like that. So, you know, I think they're
• 10:12
  Speaker 2: nervous and they should be. because I think the party
• 10:17
  Speaker 2: is a little bit off message. You know the only
• 10:18
  Speaker 2: thing Republicans have going for themselves right now?
• 10:21
  Speaker 1: Donald Trump.
• 10:22
  Speaker 2: Democrats.
• 10:23
  Speaker 1: Democrats.
• 10:26
  Speaker 2: The one thing that the voters are more afraid of
• 10:29
  Speaker 2: than Republicans, and that's these crazy socialist Democrats.
• 10:32
  Speaker 1: They say no matter how bad Republicans get, Democrats can
• 10:35
  Speaker 1: make themselves worse, and they've done it again.
• 10:36
  Speaker 2: There you go.
• 10:37
  Speaker 1: Well, Steve Moore, great stuff. Everybody get his book, The
• 10:40
  Speaker 1: Trump Economic Miracle, and sign up for the hotline, UnleashProsperity.com.
• 10:44
  Speaker 1: Go sign up. Steve Moore, thanks for being with us.
• 10:48
  Speaker 2: Hey, take care of my friend. Have a great weekend.
• 10:49
  Speaker 1: Take care. It really is the best daily briefing, news analysis.
• 10:53
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• 10:58
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