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Mister ed Yard Denny and he joins us this morning, and I gotta go to you on bitcoin at ninety three thousand. How do you invest or speculate in something where there's no underlying there's no profit, there's no free cash flow, there's no history of gold.
How do you do that?
Ed Yard Denny?
I guess you just have to be a believer. It's kind of a faith asset. The view that there'll be more and more buyers of this particular asset just keeps driving it up. And I guess in terms of trading it, all you can really do is be a technical analyst. You know, there's a little consolidation pattern there. Then Trump wins and it goes straight up. So you know, I think a lot of it's a news dependent and if the news is favorable, it goes up. That's kind of the story, Denny.
America has turned upside down. Republicans, Democrats, Independence, We're going from press release to press release, some thrilled, some.
Not, etc.
Denny, how do you invest in this if you have a minimum time hold of three years? How do we emotionally get through the political maelstrom?
Well, I think, first and foremost, it's pretty well known that the best way to invest is to ignore politics, or at least not let your personal political views influence your stock portfolio. Market tends to go up whether it's Democrats or Republicans in the White House. I guess sometimes we have to be a little bit more specific about the extent to which they're Also the same party that's
in the White House is also in Congress. But all in all, the market's pe time z And as long as the earnings outlook is for more growth, and the longer is that outlook for growth, the higher the pe. And that's kind of the environment we're in right now.
So, Ed, how did your outlook on this market change if at all with the election last.
Two Yeah, more bullish, not for political reasons, but simply because I think animal spirits have been unleashed. Trump is definitely viewed as being a more pro business president than Harris would have been. He wants to cut taxes again and corporations as well as cut some taxes on lower
income workers. He wants to deregulate, and then I think the market it is also excited about the possibility that some of these intractable geopolitical crises might have a chance of getting resolved as kind of Trump does his deal deal making magic, perhaps between Ukraine and Russia, and I don't think it's going to be deal making in the Middle East. I think it's going to be sort of a free ticket for the Israelis to take out Iran ed.
What are there any sectors that kind of jump out at you that might be particular beneficiaries of this new Republican led government.
Well, I'm not too creative here. I'm still recommending that. I'm still recommending the same sectors that we've been recommending for a while here. Three out of four of work one hasn't. And the recommendation is to overweight technology, including communications services, kind of counting that as one sector that's worked extremely well and I think should continue to do well, so we'd overweight that. Industrials has done very well, Financials and the only clunker has been.
Energy and Jo Danny, give me a MAG seven update. Dan Ives is in the house. He's been the acolyte of Apple forever, Planet here, forever. Take a sector view on MAG seven.
Can you add shares? Here? Do you hold? Do you lighten up? Well?
I think lightning up hasn't been a wise thing to do.
Thank everybody's joining that, though.
Everybody's scratching their head about why Warren Buffett's getting out of Apple?
Why is he getting out of Apple?
Dr That's one of the great mysteries of life these days, is why he's scrambling to raise so much cash. And one of the interpretations is he knows something, or he thinks he knows something about things turning sour pretty quickly here, and he likes to buy things cheap, And may simply be that is that he just views it not only doesn't have anything to buy with the cash he had, but some of these assets that he have of appreciated to such an extent that he just wants to roll
it into cash. And the cash, by the way, is looking pretty good. It's still yielding three and a half to four and a half percent, So I think I think it's an inscrutable situation and I can't, but the life may figure it out. I guess after the fact that everything blows apart, we'll say that Warren Bucket was the only one's thought coming.
There was a wonder child out of the Midwest pre World War two, and he took some exams of Paul out of the Blue to get into Harvard without applying to Harvard. Harvard took him full scholarship, the whole thing sterling career, and he ended up at a small school in New Haven. And James Tobin, even if you disagreed with him, was always this light, this light of intellect and size. And he is the one in nineteen seventy
seven with James Mead who said nominal gdpte matters. This was revolutionary at the time, to this day hugely controversial. Edgyard Denny carries his spirit forward by looking at animal spirit, which, in the definition of Bloomberg's surveillance is real GDP plus inflation. Ed Yard Denny, what would James Tobin say about the new animal spirit of a Trump administration?
Well, I think he would approve of the concept, though not necessarily the context in which it occurs. I mean, animal spirits was a phrase that was concocted by This is a Hero, which is John Maynard Keynes and John Maynard Kaines described it as spontaneous optimism. And I think Tobin was very much of a liberal and a Democrat, so I think he would prefer to describe animal spirits as occurring under a democratic rather than a Republican administration. But he was objective and it is what it is.
I mean, we have seen so far spontaneous optimism, animal spirits with the election of President Trump. Some of that maybe that the election turned out to be not even close. It wasn't contested, so it was over with and done. But on the other hand, Trump's policies are good for nominal GDP for the most part, though there clearly are some potential negatives.
When you work with Eric Wallerstein on this and you get to the roaring twenties of Edyard Denny. Is it as simple as high we underestimate revenue growth in American corporations.
Well, I'm not sure that the revenues is the issue. Revenues I think are going to be okay, but revenues are generated on a global basis, and while the US economy looks pretty good, good actually stands out compared to the rest of the world, China, Europe, some of these other areas look pretty weak. It's really all about earnings. The profit margin is going to automatically go up when Trump. I think one of the first things they'll do is get through Congress it cut of the corporate tax rate
from twenty one percent to fifteen percent. And then deregulation is unknown. We don't know how much of it will occur and how much will be reflected in profit margins. But oh, by the way, before the election, we were still talking about the roaring twenty twenties, figuring that productivity is going to make a comeback no matter who's in the White House.
And is inflation a concern here? I think some folks are concerned that tariffs number two, you know, cuts in tax rates could fuel inflation.
Is that a concern of yours?
Well? I think on balance, when you include the potential for deregulation and tax cuts, that may be sort of a wash. But yeah, I have to be concerned about it. We all have to be concerned about it. The bond markets certainly concerned about it. My friends, the bond vigilanis have taken the bond deal up by about seventy seventy five basis points since the FED cut the FED funds
rate by seventy five basis points. So somebody's wrong here, and the bond market's basically saying, no, Moss, we don't need any rate cuts because the economy is doing well and the so called neutral rate is higher than Fed officials believe, as evidenced by the strength of the economy.
So, Ed, what do you think the Fed will do? And what do you think the Fed maybe should do?
The Fed should do nothing, which is what they should have done last week, but they just won't listen to me.
I don't know why.
What is that They've got their own agenda. And look, ever since Jackson holes the speech that Powell gave was extraordinarily dubblish. He was almost wokeish, reminiscent of the kind of folk just an unemployment that we had before the inflation surge of twenty twenty two and twenty twenty three. So I think we are seeing some stickiness in the inflation rate, the so called supercore inflation rate that not too long ago Paul said was a key number. Suddenly he is ignoring.
That Edgiar Denny, we got to get it on the record. You've just been you know, with our question the equity strategist of the last twenty four months, I got futures at six thousand and twenty two. Remind us, Edgar Denny, where we are with your seven percent growth rate in one three Dare I say in ten years?
Well, when when Trump was elected, we thought about it. We thought about the animal spirits and what could happen to earnings as a result of the profit margin, and we turn more bullish. The reality is we haven't been bullish enough, and we've been among the most bullish. But so now we're looking for sixty one hundred by the end of the year on the S and P five hundred.
That's almost a layup. And then I think we're then we're looking for seven thousand by the end of next year, and eight thousand by the end of twenty twenty six, and eight to ten thousand by the end of the decade, probably closer to ten than to eight.
I want you to fold this, folks of doctor Yard Denny with doctor Manil yesterday, to have Alicia manel on yesterday on the failure of our retirement plan, and yeah, we got to put more money aside. But mostly what we have to do is listen to Ed yard Denny. If you're scared stiff, you're in.
Cash, you're in bonds.
Maybe you can get the confidence of Yard Denny by looking at three years and five years carefully to the kind of vector, the kind of glide path he sees. Edjar Denny.
Thank you.
You're listening to The Bloomberg Surveillance Podcast live weekday afternoons from seven to ten am. Easter Listen on Apple car Play and Android Otto with a Bloomberg Business app, or watch us live on YouTube.
Danny Blenchflower with us from Dartmouth thirty years The Wage Curve.
Was his book.
It changed the discussion of aggregation. Do you sum everything together or do you have the courage to disaggregate? Like Blanchflower is saying, how does the fact that people can migrate from New Mexico to New Hampshire change our economics? David Blanchflower, John Edwards stood on a lawn in Louisiana and he said, there's two Americas this political election we just had. What does it say about two Americas our disaggregation?
Well, what a great question. Tom.
I mean, I think the question going forward is whether people are going to be able to deliver on what they say they plan to do, and whether the people who voted for things are going to get what they expect. And I think the answer to that is it's pretty darned unlikely. I mean, we're going to talk a bit about tariffs, we're also going to talk about inflation and unemployment.
And I worked on this, Tom, with the sort of.
Analysis that I did, and the evidence there was that people really didn't like unemployment. Roughly a one percent point rise in unemployment was five times worse than a one percent point rise in inflation.
Well that turns out to be wrong. And I think the way I would think of it is, and I never really, I never expected to be saying.
This, people seem to really not like inflation. So if that's what you really don't like, it must mean that you really prefer unemployment.
And so we have this great dilemma.
Well, okay, if inflation's bad, then there's ways we can get rid of it.
The ways we can get rid of it.
Is to raise interest rates and to generate unemployment, and that will get inflation.
So I think that's really interesting.
The other thing which is kind of interesting, I think as an old time central banker, is that inflation is not what people are really focused on. They've actually focused on price levels. So price levels are the big deal, even though you talk about inflation being relatively low. You know, the way I always think of it, prices are one hundred and year one, they go to one hundred and ten inflations ten percent, and then in the next year it goes to one hundred and ten inflation zero.
But everybody's hung up. So we're really in a.
World where essentially people I don't think express things in quite the way they find the consequences that are coming. And if you put, if you impose, Charis will talk about that too. So this is a world of oh my goodness, me, I didn't really understand this, But if you voted for this, then there's going to be consequence.
Let's do this.
It's like the consequences.
Paul wants to get to terrorists with Danny Blanchard the book Folks, More Accessible is not working?
Where have all the good jobs gone?
That's the heart I get you.
Blanched Flower is recent the.
Heart of it, right, Yeah, I mean you go back to the heart of it, I think is where have all the good paying jobs gone?
And in a sense, what I.
Think what you see is a big bunch of America says we have not been doing well. We've had a you know, we've had inflation rising. He's not kept up, kept pace with it. And it's a shout and a cry for help. But obviously there are issues we've We've heard people talk about, oh well, you know, we'll abolish a barbaca, and we'll go after social Security, and we'll go after medicate and all kinds of things. How any of that is actually intended to help the well being of the working man and woman.
Danny, let's get Paul Sweeney in here, because he understands the Harvard b Dartmouth and football thinks.
I know, Danny, just for our listeners, for our viewers, any tariffs, can you give us your three cents on terriffs? What do they do?
What did they not do?
Well?
My good pal who's in the office two doors from me, Dougah, we've taught me most of what I know, and I think we're taught Tom most of what.
He knows too.
I mean the story I always had it in my head was that free trades are really good idea. I mean, I've come from I've come from the UK, as you gather, and obviously i've seen Brexit. Brexit was in essentially tree trade between a big group of countries with a barrier outside it, and the UK voted, which I think is the worst economic suicide know ever written to go to Brexit. And what we're going to see here is essentially whereth this happens, We're going to see tariffs. And what tariffs
do is it generates winners and it generates losers. So winners would be those who see suddenly the price of goods rising and so there are rents to share. So imagine if you raise the price of cars, then the union say, well this is great because I can raise my I can raise my wages because the price of cars have risen, and I'm going to do really well. So the people for whom prices rise, they're going to do well. But for the consumer, prices will prices will rise,
and that will hurt them. And the big question, and I think we should talk a little bit about, is well, first, what's what are other country is going to do? Is Mexico going to retaliate, the China going to retaliate, and then second, well can you can you go to substitute? So I've been through three hurricanes in the last three years, and one of the big things I recall was that you know Terris rose on aluminum or what happened. Well,
nobody's buying aluminum windows anymore. They all buy a crylic right, So the question is can you substitute from those things? And in the long run is there going to be import substitution where you end up making your own stuff. But this is such a long run process that this is chaos.
Jenny, I'm gotta get one more I got to get one more question in here before you go off to fight with Irwin today. Are we entering, even though we don't know it, just a further monopsony where there's a power of big business, a power of big corporations, a power of the rich guys.
With this election, Well, it's it certainly seems that way.
I mean that gath Elon Musk has moved into Marrow Lago. I mean, it certainly seems that way. But I do think that in a sense that the lesson I would draw in some ways from the UK. And the lesson I draw from from Liz Trust is that actually, yes, that may be true, but markets do stop people doing stupid stuff. So think about Liz Trust passes a set of stuff on the Friday, and basically it's done on Monday.
So markets will respond to things. People will respond, and so yes, that that there's there's going to be one heck of an I agree, doesn't look like.
We gotta go.
We gotta go, Danny, but I promised me, I want you to come out next Bank of England meeting to push against Catherine Mann trying to keep rates high in the United Kingdom.
That will get That's like Cardiff, that will get on going.
That's like Cardiff taken on Man City.
I mean, that's what we're talking about.
Well, I would always lose that game, so I would hopefully win this one.
A professor, thank you so much.
Danny bleishfar with us from Dartmouth College here just outstanding on the wage of America.
This is the Bloomberg Surveillance Podcast. Listen live each weekday starting at seven am Eastern on applecar Play and Android Auto with the Bloomberg Business app. You can also listen live on Amazon Alexa from our flagship New York station. Just say Alexa playing Bloomberg eleven thirty.
Wendy Schiller in red today of the Taupman Center joining us, of course, professor of Civics for all of America. Wendy, what a perfect time to talk to you about the heritage of Senate independence. John Thune is labeled a I know, but talk to me. Take me from say in the modern era, from Senator Bird of West Virginia over to the Senator from the Dakota Is how independent is Senate independence?
Well, Tom, the Senate has the capacity to be totally independent from the President and even you know, very independent from the House. But partisanship has enveloped our sort of separation of powers and our branches of government in the last twenty to twenty five years, so that this institutional break between the president is elected separately.
It's unlike most.
Of the other industrialized countries of the world where the you know, the majority party in the legislature chooses the prime minister who runs the country. So we have separation, excuse me, And the partisanship has really shrunk that separation.
So now when you run for the House and when you run for the Senate, especially if you're a Republican, you really have to swear an oath of allegiance to the presidential candidate and promised to carry out their agenda in a way that is really more pronounced than it's ever been before.
Excuse me, so, professor, taking that as a backdrop here, how do you think about some of these cabinet appointments that we've seen from President Trump? Here it seems to be I guess one of the commonalities is loyalty, professed loyalty to President Trump. What do you make of some of his appointments?
Yeah, I mean this is really in a second term.
You'd expect sort of a president to have made connections and replace the first set of cabinet people with a sort of more loyal group in a second term. That's not you know, something that's surprising. Up until yesterday, I was saying, this looks like any other Republican administration.
George W.
Bush, George Herbert Walker Busch, these nominees would be fairly typical for anybody. So I found that a little bit surprising, given that Trump is not typical in any way. But you know, with Tulcy, Gabert and Matt gets on the list one to run the intelligence and want to run be the nation's top law enforcement officer. That, I mean, that was surprising, and that sort of suggests to me.
That he's using that Justice.
Department to nominations to really get back at people who investigated him.
We'll see if Matt Gates gets confirmed.
He did resign from the House yesterday, so that's pretty big confidence that he's going to get confirmed. Will the Senate exercise its advice and consent constitution responsibility?
Okay, we'll get out the Brown University Crystal Ball here, I mean, Wenda Schiller. What are we going to observe? Are we going to have like Sam Irvin and Howard Baker in a smokefield Senate room and mister Gates is going to sit there with X number of people lined up Republicans and Democrats?
And what do they do? Do they ask him questions?
How does the process work?
What will we visually see?
Well, Tom and Ball, I can tell you that I'm not sure you'll visually see anything. It really depends on how John Thune has now been elected as a Senate Republican leader to withstand the Trump pressure to really adjourn and let him just do recess appointments, which would make these people sort of temporary until the end.
Of the Congress in twenty twenty six.
That Trump likes that, you know, he likes a little bit of instability in his cabinet. So I don't know if the Senate can withstand that pressure. If they don't, they'll have very quick softball hearings in the first week after Trump is inaugurated, probably and get these cabinet nominees, you know, situated within just maybe a week or two.
You will not see extended hearings.
Trump will put too much pressure on Fune, and if Pune wants to maintain that constitutional prerogative, in the face of that pressure, he'll have to act very soply to confirm all of Trump's pigs.
Paul wants to jump in here, but I got to ask this, So you're telling me within the Maelstone right now, the Lieutenant Colonel Gibbard and a turning gets will go through a normal process.
Well when I say normal, I don't mean a deep and thoughtful investigation and hearings. But I think that Thune, in order to maintain the Senate's bargaining power.
With the president at all.
And what's the point of being a senator if you're just going to sort of lay down and say, forget it, We're not going to do any of our constitutional responsibilities.
It's not much fun.
I mean, I can't imagine most senators want to act that way. But he will have to get these things through very quickly because Trump has a lot of momentum right now.
And you know, each of these leaders in these congresss they depend on Trump. You know, Mike Johnson, John Thune.
If Trump really raises a ruckus, who knows if the Senate Republicans stay with Thune.
So it's a very unstable time.
So they have to appease the president and try to maintain their constitutional powers.
We're going to see just how good John Thune is at that in the coming months, Professor.
Are there checks and balances in this government?
Here?
We've got a Republican president, Senate, now House, and one could argue a Supreme Court. Are there viable checks and balances on this president?
The Madisonian checks and balance relies on the ambition of individuals in these institutions, the House, the Senate, the Supreme Court to enjoy their power to recognize that they have a role in the system, that their voice should be heard visa VI the president. If partisanship wholly subsumes that and they abdicate that power, that responsibility, there will be literally no institutional checks and molts.
So is that a material risk here going forward over the next to four years? How do you think about that? Because one could spin some crazy scenarios.
Yes, I mean you could see an attempt to sort of unravel and undermine the sort of institutional framework that we've been operating under for a long time. You could see that if there was coordination and agreement across all Trump cabinet people and Trump himself. But he is someone who is a little bit mercurial. He changes his mind a lot, and he's also.
You know, creating a team of rivals.
I can't imagine that Jdvan is happy about either Marco Rubio or.
Even Matt Gates being in the cabinet.
Right these are competitors for twenty twenty eight theoretically, so they'll be competition and discord as there always is. And Trump likes that, he fomens that he feeds off it. So do I think it will be systematic?
And what they can do.
No.
Do I think there'll be some chaos?
Yes, Professor Schiller got one more question. It's an audible George Will with a brilliant essay in the Washington Post. Whether you agree or disagreement doesn't matter. He pulls out the history of Wendy Schiller. Like no one, George Will goes where I was a couple days ago. Professor Schiller saying, you know what twenty twenty eight is. Bore this before
the census of two thousand and thirty. His numbers, his guestimates on where the electoral votes are in two thousand and thirty is still a massive shift to the south. It's just unbelievable how the electoral votes built in Florida, Arizona, et cetera, at the expense of New York, Illinois and California. Are we going to see that radical of an electoral shift six years out?
You know, I think we've learned that the elections in America are now very much about the candidates themselves. It's a choice between two alternatives, and we've seen an interesting candidate win now twice who isn't typical. I don't know if we can make any assumptions about how people will vote until we know the choice, set the idea that a Midwestern governor will be the choice and easily win.
I think in twenty thirty two, I think you're pointing to a point that it's probably going to return to the South.
But remember Bill Clinton and.
Al Gore quote unquote saved the Democrats in nineteen ninety two, So the Democrats themselves returned to the South to win the presidency not that long ago, so it won't be surprising if they have to do the same thing in twenty thirty two.
Whendy, I learn more from you in the last four minutes, six minutes than all the hot air of the last three days on Senate confirmation. Just hugely valuable, Wendy Schiller. They're definitive of Brown University in the Taalbyn Center.
This is the Bloomberg Surveillance Podcast. Listen live each weekday starting at seven am Eastern on applecar Play and Android Auto with the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg terminal.
You take a look at the front pages that Lisa Matteo hour starts strong, Lisa, what do you have.
All right, I'm probably gonna get you in trouble for this, but a new place to take missus kean shopping. A temporary Louis Vuitton store. It's on Billionaire's Row in Manhattan. Okay, the flagship stores across the street they're getting renovated, so now they have this temporary store opening. But it's got the fifty foot ceilings. It has le cafe where you can sit down for luxury snacking.
That's the biggest racket going.
You don't want the waffles with caviar for forty eight dollars?
Are you serious?
Yes, I'm telling you a cheeseburger thirty two bucks. It has a bar, it has a library space, so it's all there for you to just relax.
But just temporary store.
Is can be there for like a couple of years.
A couple of years.
You're complete folks in New York City. It is iconic in this time of year. Special fifty seventh Street at Fifth Avenue. At least it'll be clear they're tearing down their corner store, Is that right?
They're renovating. It's going to take a couple of years and rebuilding it and rebuilding it up. So now they're in the former Nike air. Nike used to know where that is? Ok so there before and yes, correct, correct you are okay, yeah, familiar with that. He knows exactly. But they still have the shopping jewelry accessories men's wear, yes, women's I.
Learned yesterday Van Cleef is taking a firm that's the mother is it?
That cif Is is a thing with gold and redland stones from Africa?
I don't know what. It's jewelry I can't afford.
Okay.
And they're taking a firm, which shocked me in that European luxuries figuring out a firm and you know, all the rest of the stuff that everybody dies with today.
Can we move on?
You can?
I hope missus Kane was listening. Okay, we've been talking about you know, if you want to date someone, just go to a bar. What happened with that whole thing? Okay? A lot of singles are taking that a consideration. The Wall Street Journal just great insight into it. They're saying singles are forgetting the dating apps. They want to go out, but their skills are a little rusty. They don't know how to go out and talk to people. They don't know how to make eye contact. They think it's awkward.
They say, social norms around dating, it's not the same. People think it's creepy when you approach someone, and they say that.
Describes me from about nineteen seventy one apps.
So they don't know. They've kind of they don't. They haven't developed the dating skills. Is that kind of what they just they forgot.
It's been so long and they had the dating apps and they're just used to someone kind of picking it for them. So they're saying, it's hard to go to a bar and make eye kind of because everyone's on their phone and no one's paying attention.
They're just phones and phone.
Yes, so they did have some advice. So here's the advice from the dating culture. Okay, you put away your phone, you remove your earbuds, you smile, and you say I don't believe we've met yet. Oh that would work work?
No, No, that would work all right.
They're saying, got to get back in the game.
I don't know.
Yes, that's the snip.
God, let's.
Ken. Is that how the Fella family started?
Though it is not another bar story with our global technical director continue.
Big thing happening today, the last supermoon of the year. Okay, he illuminated. Yeah, you've already seen it because it's already started, you know, to come out. Yes, correct, it came out this morning. It'll continue before if you hours sunrise Sunday. But the biggest peak, if you want to see it, the biggest, the brightest, it's four twenty nine pm Eastern time tomorrow, so keep that in your calendars. But full moons in November it's the beaver moon. And so why
they call it the beaver moon. It's not exactly clear the origin, but it's actually because mid fall is when the hunter set beaver traps before the swamps start to stream to freeze over. That's where it came from. The beaver is more active in November with full moons.
Do you see a bigger tide?
That's a great question.
I don't know.
I don't know, but I will nine tomorrow. I will be at the short I'm getting the early flight back from Boston tomorrow.
So you have the golf stream, Yes, I do.
We'll be zipping right into Belmore Airportborough Bellmar, Bellmar, Yeah, that's the little airport by my place.
I just yeah, I'm on the I can't even get on the asella, I'm on the slow train. The when I get back like PM next.
Okay, finally Mark zucker teaming up with the rapper Tee Pain. It's a new version of a hit Little John song. But he's not rapping. Okay, but if you remember, back in twenty two, two thousand and two, Little John the East Side Boys came out with get Low, So here it is if you want to hear from back in the day. All right, okay, that was the original two thousand and two. But Mark Zuckerberg, who was a big
fan of the song. Okay, but when he first met his wife Priscilla, it was playing twenty one years ago. That's how they fell in love apparently, so every year he plays it on their anniversary. But he went to do something different this year, so he teamed up with te Pain to do a little remake. Take a listenin.
Logan.
Okay, So he's not rapping, as you can tell, but he has the vocals. He's a little crooner. It has the raw lyrics. What I had I had a cut out. It was very hard to hint it. Yes, it's very raw. It sounds beautiful, but he's his wife called it very romantic.
That was romantic, very romantic. I didn't know this.
I'm glad you brought this up because after thoughts calling me t pain.
And it's not.
It's about the dishwasher and the unloading of said dishwasher.
I'm te pain. It's Tallahasse pain. That's where it comes from.
Okay, every seriously, every time you come on, I learned something's great.
What was the line for to pick up in a bar?
I don't believe we've met yet.
Lisa Mattea for the newspapers today. You can't do better than that.
Lisa Matteo there, and of course we're from Boston and Lisa Mateo driving the show forward.
Here.
This is the Bloomberg Surveillance podcast, available on Apple, Spotify, and anywhere else you get your podcasts. Listen live each weekday, seven to ten am Eastern on Bloomberg dot com, the iHeartRadio app, tune In, and the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg terminal