Bloomberg Audio Studios, Podcasts, radio news, Single Best Idea. Thank you for the comments and Ed YARDNNY yesterday. Yesterday we spent our entire Single Best Idea with Yardanny, who's looking at the Roaring twenties and has some huge numbers. But to I want to make this clear because people are like, OMG, Dow fifty thousand, Dow sixty thousand, SPX eight thousand, and Ed brought this up, but it got buried in the conversation.
If you extrapolate the trend line to get you to those targets on a per year basis, it's not all that much of a lift. I want to make clear that in the Yard Denny Roaring twenties, he's looking at seven or eight percent per year return. It may happen sooner, may happen later, but these are not outlandish numbers across the X axis. I think we'll leave it at that. The Roaring twenties out there got a note from UBS today. Will will effort at Ubs as they use the phrase
Roaring twenties. We used it with Sofia Drosis. She's the point seven to two. This is Steve Cohen Shop and she has the privilege. You're working with Dean Mackie. Sofia Drosis, a nominal GDP and the Roaring twenties.
I don't know about Roaring twenties exactly, but I'll tell you a little bit about my forecast. I'm looking for nominal GDP five five and a half percent this year, and that's pretty strong, and that it sort of entails
that corporate profits will remain strong. So we are seeing the consumer remain strong, and I think maybe that there are some misconceptions about the relative strength of the consumer, maybe some concerns about the fact that goods prices are slowing, and so maybe that's restraining some of the things we're
seeing in retail sales. But recently the consumers also spending on services, and so when I look at consumption overall, it remains at a trend pace, which again makes it hard to see a recession.
Sophia Drosis there informed comments the optimism that she has. She's again at point seven to two. We love to get outside three zip codes. I'm as guilty of this as anyone. Look far west to sixth Avenue. We all want to do that. We want to go across this nation, and it's really important when people fly in from the left coast from San Francisco, and he is iconic. Mark Lehmann is with JMP, not JPMGP Morgan, j MP, which
is the aggregate of San Francisco technology history. You go back to Montgomery Securities, Thomas Weisel, Robertson Stevens, the rest of it. Well, there's the technology that's always been in San Francisco. He had wonderful comments his optimism on the resurrection of San Francisco. But here's Mark Lehman of JMP on the new tech age.
I think a lot has to do with Back then, the hype was just show up, have a meeting, get your capital.
Yep.
Now it's a much more discipline discussion. I think there's way fewer of these kind of larks, if you will, that are being created. And I think the big firms are collaborating. So it's not just the venture capital it's but the big install tech companies. We mentioned Google. Obviously Microsoft's got a big stake, but I think the dynamism of the investment is way different than it was years ago, way different.
Mark Leman of JMP. As we go into Google's announcements this afternoon, and on to August first, Amazon and other worthies of this tech era that we're living in did an experiment today. We tied Zach Cohen and David Gurr at the same time. On the politics. I really want to say, I've had all sorts of anecdotal evidence people coming up at lunch or whatever thanking us for a political coverage. We're sort of in a mailstream mirror where we're just trying to survive and get through the day
and stay up with the zeitgeist. And the news flow is reported by our wonderful news bureau led by Margaret Collins. But I'm really taken by the comments of how we're trying to stay away from the punditry and talk about the more granularity. What a successful effort today was Zach Cohen and David Gurrow. We'll try to do that again. We're on YouTube. Subscribe to Bloomberg podcast That's all I can say. I sound like everybody else on YouTube. That's
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