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Single Best Idea and a special edition. We'll get to my essay of the Year in a moment. What a joy A whole wide set of guests today, thanks to Keith Cowing of NASA Watch for giving us great perspective on Elon Musk in his space effort and what mister Bezos is doing with Blue Origin. Everybody got safe back to Earth after going up sixty two. As they call it Shepherd, but it's sort of like Alan Shephard and Mercury One where we're here, we're going up and we're
coming right back down. I think it's sort of cool that they call it the Shepherd Mission. Our mission today was good conversation Man Deep singh on Ai. Will have him more and more tomorrow to look ahead at gold at four thousand, maybe forty one hundred by the time James Steele comes in the studio tomorrow from HSBC. Really looking forward to that. Richard Clarina with a former vice chairman of the Federal Reserve System with PIMCO and always
with Columbia. Richard Clarita and the turmoil, the Tumult of Japan.
Japan went through about a two decade period where they had deflation. It wasn't a spiral, but prices were negative. I think to me, Tom, one of the interesting things about Japan is although the boj was trying to reflate the economy, the politicians in the public actually didn't get a vote. They actually liked deflation. You know, you've got your savings in yen under the mattress. You know deflation
is good for you. So I think a challenge right now in Japan is they finally, after twenty five years, achieved the positive two or three percent inflation, but it's creating substantial political tension.
Richard Clarina of PIMCO there and of course all of us work at Columbia University, Bloomberg News off our Tokyo desk today with a spectacular bar chart showing the agony of an inflation to the Japanese. Their real wage, their inflation adjusted wage is there's only one word for it. It's grim. A special day my essay of the year, and it is Professor Susie Welch of New York University.
Susie Welch, with some legitimate data study of this generational divide between the goals aspirations of a older generation from gen Z. It was an essay in the Wall Street Journal. It's created a firestorm of comment. She was just brilliant. Today here is Professor Welch.
They can't do what they would need to do, which is promise a long term employment. I mean people feel loyal when they feel like, Okay, I'm investing my time in a company and I'm going to be here in two or three years and my boss is going to be.
Here disclosure Bloomberg LP every day. It's a privilege. I mean, that's where we come from, right, the three of us.
Right, Well, you've got probably a sense that, look, this company is healthy and it's thriving, and we're all going to be here, and I'm willing to get myself to this organization and to work the extra hours because we're all going to be here together. But for most people going into organizations, there's this constant sense of fragility and we may not be here. I could be gone tomorrow. Why would you invest in yourself in that? And so
that contract is pretty much over now. There are places, I think JP Morgan Goldman Zachs you can go and think I could try to build my whole career here. But there's not a lot of companies I've done anymore.
Susie Welch a riveting conversation. We hope to get that out in its entirety for you on a podcast. We'll see if we can pull that off. Today, I will get the essay out on Twitter and LinkedIn and again she's created with all of this is real academics. This is not opinion, folks. This is like looking at complex adult academic data about the emotions of gen Z versus the emotions of the people on the hiring front at corporations.
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