Fed talks about rate cuts, markets soar.

0:00 Speaker 1 Well, the stock market, the interest rate markets, they’re all over the place with us today is are one of the top economists in our country? Steve Moore and Steve, what the heck is going on? Who the convention is over?

0:19 Whom do the American people trust more to go on for the next four years?

0:25 Speaker 2 Yeah, well, that I think is really the key issue. And we don’t know the answer to that right now. It’s basically a jump ball race. Democrats got a slight little bounce out of their convention, but not a big one, and so it’s a as I said, a jump ball right now. It’s going to depend on, you know, how

0:40 these candidates make their case. But if it is, look, John, I’m gonna make it really simple. If it comes down to the kitchen table issues, the kinds of things that you talk about all the time on WBC. If it comes down to you know, people’s real learnings, the price of eggs and the price of a local bread, and

0:56 the price of a gas fill up, and who’s better to handle you know, our overall economy and great jobs. I think you know, I think almost everyone agreed that Donald Trump had a power superior record. Then Biden and Kamala Harris. The Democrats want to talk about abortion, they want to talk about the social issues, they want to

1:16 talk about January depth. And so you know, Republicans are going to win. And look, I work for Donald Trump, so I pray that he does win. It’s going to have to be about the economy. Stupid.

1:26 Speaker 1 Well, you know, I was on Fox Business on Friday morning and I said that the comparison is not about being Democrats and the being Republicans. It’s about comparing to four years the President Trump was president in three and a half years that President Biden was president, and who do you trust to run the economy for the next

1:50 four years.

1:51 Speaker 2 Yeah, that’s exactly right. And so as you know, at Unleashed Prosperity, we put out a chart book. You’ve seen it, and I want people to is just go to only Prosperity dot Com and you can look at this and we compare to it about twenty to twenty five of the major statistics measure economic measurements of how the economy

2:09 performed under Trump versus how it performed under Biden and Kamala Harris, everything from employment to the inflation rate, to the price of gasoline to small business conditions, to interest rates, to the mortgage rates, all of those kinds of things.

2:24 And it turns out that on almost every one of those statistics Trump Trump’s, Kamala Harrison and Biden and in some ways a very significant way. So that’s why the Democrats don’t really want to talk about the economy very much. Because, by the way, the other big thing that happened this week on the economy that kind of got overshadowed because

2:47 of the Democratic Convention is Kamala Harris came out with their tax plan, and my god, folks, this is the biggest tax increase in the history of the world. That’s just in the history of United States and the history of the world. Most five trillion dollars over ten years of taxes. And who are they going to tax? Investors,

3:05 small businesses, medium sized businesses, big businesses. They’re going to pay the freight for this. The capital gains tax would double, a new tax on unrealized capital gains, a tax on stock transactions. That’s going to kill.

3:18 Speaker 1 Steve Steve Moore. At the end of the day, you got to tell people the truth. If they tax all those people, those people who do they reflect it back on the consumer ends up pans.

3:32 Speaker 2 Of course. Yes, if you tax businesses, business are going to have to pass on those classes to the consumers. So that’s why you’re so right to say that, John, this is the big lie. Oh, we’re just gonna get all these rich people. You know, you’re in the grocery business among others. You know, these grocery stores don’t have

3:48 very big I don’t even know how the grocery stores do it. They’re you know what, two or three or four percent margins.

3:53 Speaker 1 Well, the important thing that they have to realize, And Steve, I don’t want to look at the national numbers members on margins. Look at the numbers for the inner city stores. Almost all all the drug stores are closing in the inner cities. The supermarkets are closing in the inner cities.

4:13 Even Walmart is closing in the inner cities. So there’s a difference between the national numbers, good point, and the inner city numbers.

4:23 Speaker 2 Yeah, and that means what’s going to happen if you put price controls on is you’re not going to have grocery stores. You’re not going to have the you know, the fast Marks and the seven elevens in the inner cities because they won’t be able to cover their costs, and then the left is going to complain, Oh, gee,

4:37 you know we’re food we’re food deserts here in the inner cities. And Incinelli that in Chicago, my hometown, John, that the mayor there wants to have the government run the grocery stores.

4:48 Speaker 1 Now, let me ask you a question. When people go into those grocery stores that are owned by the city and they steal, will they allow them to steal?

4:57 Speaker 2 Yeah, good question. I totally answer to that one. But can you imagine the government that can’t fill the potholes, can’t keep the streets clean, you know, can’t balance the budgets, they’re going to run a grocery store. I mean, it’s the absurdity of this. But look, I really believe John when it really comes down to Kamala Harris is anti business.

5:14 She partly because she doesn’t know anything about business. And I’m talking to one of America’s great businessmen, and John Cassel Matiti’s here, but she knows nothing about business. She thinks we can just tax them, regulate them, and you know what, they’re going to go out of business. And if they can’t make a profit, the business doesn’t exist,

5:30 and if the business doesn’t exist, there are no jobs. It’s that simple.

5:33 Speaker 1 Dick Morris, thank you for your input. And by the way, the American people are going away from electric cars electric vehicles, and I’m moving more so. It’s a hybridge, which makes more sense than one hundred percent electric.

5:49 Speaker 2 That is true. And yet the government doesn’t want you to buy hybrids. They want to force you to buy a whole electric car. And I say, this is America. Peoples should be able to buy whatever car they want.

5:59 Speaker 1 John Steve Moore, thank you, and we’ll catch up with you again real soon. Thank you.