Bloomberg Audio Studios, Podcasts, radio news, the single best idea. After an emotional month, we're deep into May, and after an emotional week, and here with the jobs report doing
better than good. All in all, major shout out to anawog of Bloomberg Economics who certainly had a huge part of that buoyant seat to the job market, the trend up near here one's sixty and whether it's one seventy three month moving average one hundred and fifty five thousand, and the stock market reacting to it at least here on a Friday, as we tape at this moment, but in amongst it with some tension. It's always good to speak to people world acclaimed for their academics. Claudia Sam
leads our employment coverage definitive at Michigan. I'm thinking at the fat I should say, as well, thinking about what is recession? What the slowdown look like? First thing she said in her conversation today, this is not a recession. There is no recession out there. Late in the conversation and here Claudia Sam on the speed, the rapidity of our policy making.
They need to slow it down, right, you know, I disagree with the policies they're pursuing, but I'm strong, I'm very concerned about the way in which they're being pursued. This is very aggressive, this is very fast, and it
can potentially cause a lot of damage. So even if you're in the spirit of having more industrial policy, having higher tariffs, a smaller government, like, there's a way to do this that doesn't cause maximal damage, right, And I'm very concerned of and I think the White House and you hear some messaging from them that you know, terorfrates aren't sustainable with China, and we're doing negotiations, but like, we need to see some action that actually pulls back these costs before it's too late.
Claudia Sam there within this trade war, within this moment for America in the world. John Authur's writing up at Bloomberg Opinion. I thought the Martin Wolf essay I think it was two ago on the trade war was just brilliant over at the Financial Times. But the one essay that for me sticks out was Adam Posen. I'm guessing five ancient weeks ago, long weeks ago in Foreign Affairs, Adam Posen absolutely definitive and with a piercing paragraph on
the zero sum fallacy of our trade war. We touched on Adam Smith, the giant David Ricardo of about eighteen fifteen, but late in the conversation with Adam Posen at the Peterson Institute, we talked about his view on American education.
It's insane, no matter how valid the criticisms may or may not be. And I'm not going to touch that because I'm not an academic, thank god, but destroying the research capacity of the greatest research complex in human history, that has been the source of American advantage and well being and defense capacity for eighty years is possibly the
most destructive thing the Trump administration is doing. And I don't mean just Harvard, and I don't mean worrying about supposed anti Semitism, although I think that's not what really motivates them, but who the heck knows. I think you're destroying at National Institute of Health. You're destroying medical biomedical research across the board. You're undercutting standards for research by having an HHS secretary who makes stuff up in contrast to all known research. I mean, I could just spew
on this, sputtering for hours. This is the golden goose for the US economy for the world's wellbeing, and we are destroying it. And that's where the UK and a few other countries including Japan, Singapore, Australia, Germany, we have to help step up and fry a home for talent and find the money because this is something we can't replace.
And I'm posing there at the Peterson Institute a major shout out to an institution at Columbia University. There is one guy that is written and thought about this more than anyone I know. His name is Jonathan Cole Coillie, and he's written definitive books on this miracle that was wrought as a generalization out of World War Two, but I would suggest started before that, at least with the land grant program of the nineteenth century. Think the A and M's Texas A and M and the rest as well.
But Jonathan Cole will say that the research capabilities of this nation are centered around research universities bolted on to the great academics of your kid getting an undergraduate degree, and he centers there on the Johns Hopkins University and on the University of Chicago. Somehow this will be a theme forward. Janet Lauren is our expert on this at Bloomberg will speak to her as we can across the nation.
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