Bloomberg Audio Studios, Podcasts, radio news.
Single best idea and thank you for listening what we're trying to do here as a short podcast to fold into your other longer listens, including The Big Take, and you know many others that are out there just quietly building here with two ideas each day from the many conversations we have. Thank you to Henrietta Trees, who's really been with us it seems now every third day or so with ADA partners, explaining so nicely what's going on in Washington and particularly on Capitol Hill. She's just been
a real value add. We did three interviews today in a German election. Paul and I tried to take it broader than just here are the results. A particular thanks to Holger sch meeting a Barrenberg Bank who was really patient about explaining the path from Conrad Adenauer out to this immense turmoil in Germany and what it means for America. So we thank him for that. Did a lot of equity today. Bob Doles showed up with cross Mark some
caution on the market he wants to participate. Riveting was Mike Wilson of Morgan Stanley, and of course he was looking at Washington distractions, but any other.
Things that have been we've been focused on really in no particular order. Terrorists, as you already mentioned. Number two, we have immigration enforcement, which has been a huge fiscal boost and also a labor supply boost. And then we have dose right the Department government efficiency. They are off to an aggressive start. I'm optimistic that probably more optimistic
than most, that they can make some headway there. But remember the more successful they are in the short term, the more growth negative that is in the near term before you get to the good stuff. And then of course the positive effects of policy like deregulation, maybe extending the tax cuts on those come later in the year. Those those require congressional approval, and so that's just not you know, that's going to take six and twelve months, and so the bad stuff first, a good stuff comes later.
Mike Wilson with Morgan Stanley done a lot on gold recently. We'll get Dennis Gartman on who's got arguably the trade of the decade. Gold is measured in Japanese. Yeah, and of course with recent yen strength, maybe that's not as successful as it was. Off to look at the chart to check on that James Steele at HSBC has been absolutely fabulous to come in for lengthy conversations on gold.
He and I looked back to the boom from Nixon in thirty five dollars an ounce, through the seventies and on to the eighties.
There's a lot of discussion now about that gold is at new highest, and it is says at new Heinz and nominal TEMs. The all time high is eight hundred and fifty dollars in January of nineteen eighty with you and I may all remember it right here. That's how i'm standard deviations and not roughly as thirty four hundred dollars in today's money. So there is on that basis alone, and I'm not saying it would go there. There is on that basis a historical precedent for the market to
go higher. But it did drop afterwards for ten or fifteen years pretty so I dropped very quickly for the next ten years.
Oh and I measured that we didn't have time to get it on air, are you ready, folks from the peak in the eighties, the gold bugs and all that the price was down over fifty five percent in the length of time of that agony was substantial. I don't have an opinion on that. You will never get me to say buy, hold, sell on gold. What I'll say is we'd love for James Steel of HSBC to return. Really just wonderful perspective. At the end of it, we touched palladium. What does palladium do now with ev and
all that. I mean, you know, platinum and palladium, but particularly palladium. I have no idea. I mean, we used to talk about this stuff all the time time. Now we talk about Apple and mag seven and you know the rest of it. It is single best idea on your commute across the nation. Thank you for listening, particularly on Serious Exempt Channel one twenty one. On YouTube. Subscribe to Bloomberg podcast. It's growing each and every day. We're
dashing on to more subscribers. Humbled by that domestically, and it's just stunned the international reach of YouTube. Thank you so much on YouTube podcasts, this is single best idea.