Bloomberg Audio Studios, podcasts, radio news. A single best idea, and it's a special edition, a single best idea. There's no other way to put it. When Ed Heyman walks in the door for a generous half hour conversation, he touches upon a lot of points. I want to explain the why here. Part of so much of what we do at Bloomberg Surveillance and before that at Bloomberg on the economy is actually trying to understand who is this guy. It's like Butch Cassidy, who is this guy? Who is
this woman? And the guests are different. Ed Heiman was at CJ. Lawrence before Ed Yard Danny, both of them world class economists, and ed Heiman codified what I call chart paragraph, chart paragraph, chart paragraph. There's a chart and then a quick paragraph and then another chart. That's the entire report. There's not a lot of discussion going on here. It's a lot of pictures that tell a story. And all of that came out of the technical work of
one Alan Greenspan years ago. We just look at the data and it's not a small idea that the leading chart in Ed's latest note was a Trucker's survey falling off a cliff is too negative, but it's diminished, it's slowing down, and of course that folds into what the FED will do and Hymen on a FED.
I think the FED has been doing a pretty good job, and I'm generally critical of the Fed. Okay, but either my luck or my skill, they have the path set now for cutting rates and we got claimed this morning solo. It makes me have a headache. And so they're you know, they got different mandate, So I don't necessarily think they should have will know better to answer to that question. I do think that they were way off on raising rates.
Edheimen there and Jerom Powell and what the Federal do for it clearly indicated he needs to see data to get to fifty basis point cut. That's out there. Anna Wong Bloomberg Economics said the difficulties in the labor economy shown yesterday in the data doesn't tilt to fifty basis points, but she says it's part of the discussion to say the least ed Hymen for years. This is way before Evercore took out Isi at Hymen's ISI, he's really stayed away from the politics of the moment, he doesn't put
on an obligatory political discussion at the end. It's a very rare thing here he is ed Heyman on an election in November.
It's a dance. And Everquore has its roots in the very democratic group of people as founders Roger Roger Altman and Ralph Slashdain and they're terrific, and so I have to be a little careful he as a Republican, you're not. It's their firm and I don't want to get in the way. But as we all know, it's fifty to fifty and so it's too early to try and figure out the economic implications.
Not too early to listen to the debate. We'll do that across Bloomberg. The ABC debate in Philadelphia, and we're thrilled that David Girl will lead our coverage for the debate on September tenth. Thank you. What day is that? Is it? Tuesday? Tuesday, September tenth. Yeah, it's spending this time of year, you know, you need how much for school supplies? Like that's the major question going on right now. Finally, with that, Heimen, I asked them a delicate question, and
that is the debate on unrealized gains. Let me explain this quickly. You buy Apple and it goes up, and you owned it for five years, six years, eight years, whatever, and you have a huge profit and you don't want to sell. You just carry the gain forward until you sell or death or whatever. Some out there want to tax the gain along the way, even if you don't sell the apple shares. This is new Edhimen.
I think it harms everybody. Why because it hurts the whole capitalistic system, and so I mean that's one of the things that I would find the most discouraging. It also is impossible to administer, so I don't think that's going to make it, but it definitely is low on life. So broadly, listening.
At Heimen there on this idea of taxing gains that have not been taken, the only thing I'll editorialize there is I just sort of gut feeling, and you know, I don't want to get into the politics of it. But if they do text unrealized capital gains, I think you could rename the document the Accountant Employment Act of two thousand whatever. That's sort of where I would go on that Jobs Day tomorrow will go beneath the headline day to day thirty. Let me go through our distribution.
We are thunderstruck by the August numbers. Granted we had a small affair early in the month of the stock market which helped out. But thank you, thank you so much for your support. Across Android Auto, Apple car play on YouTube. Subscribe to Bloomberg podcast Let me see that
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