269: The Mythological Recession with Ron Insana
The Lincoln Project
The Lincoln Project
4.6 • 9.1K Ratings
🗓️ 16 August 2023
⏱️ 35 minutes
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Summary
Host Reed Galen is joined by Ron Insana (Senior Analyst and Commentator at CNBC) to discuss the current state of the American economy, how remote-work and other post-pandemic variables have greatly affected the commercial real estate market, and how the economic policies of authoritarian states like China never seem to work. Plus, the wise words of Princess Leia. If you’d like to ask a question or share a comment with The Lincoln Project, send an email to podcast@lincolnproject.us.
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Transcript
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| 0:00.0 | Hey, everyone, it's Reed. Before we get started, as we approach back to school, now is the time |
| 0:05.7 | to get ready for your kids, to get out of the house, and for you to have time to join the union. |
| 0:12.1 | That's right, join the union.us, become part of the field army that will help protect American |
| 0:18.4 | democracy for the next 15 months. |
| 0:22.7 | Guys, we need your help on the ground. |
| 0:24.3 | We need your help on the phones. |
| 0:26.7 | We need your help on texts on social media. |
| 0:30.3 | Visit jointheunion.us and sign up today. |
| 0:32.5 | And now on with the show. Welcome back to the LinkedIn Project. |
| 0:42.5 | I'm your host, Reid Yaly. |
| 0:45.2 | Today, I'm once again joined by Ron and Son, senior analyst and commentator at CNBC. |
| 0:51.5 | Ron has been a highly respected business journalist and money manager for over three decades. |
| 0:56.0 | He's written four books on Wall Street and is a sought-after lecturer on domestic and global |
| 1:00.4 | economics, financial markets, and economic policy issues. Today, he's coming to us from |
| 1:05.8 | Inglewood, New Jersey. Ron, welcome back. Always great to be back. Thanks for you for having me. |
| 1:27.6 | So, Ron, always love having you back because we never know where the conversation's going to take us, but I do know where I want the conversation to start. So tell us, from your years of experience, from sitting on the set of CNBC, tell us how you see the American economy. It feels like unemployment is down. It feels like wages are up. It feels like inflation is middling. And, you know, consumer goods purchases, as I saw as we're |
| 1:33.4 | recording this morning, were higher than expected. So with all that, I guess, relatively speaking, |
| 1:38.9 | good economic news, tell me why everybody's still so afraid of everything. It's a great question, |
| 1:56.1 | and it's one that I don't understand because, you know, a lot of times surround environments like this where people feel bad about the economy, even though it's doing well, you start worrying about this mythical, psychological recession, which is never a reality. |
| 1:57.2 | I mean, recessions are real. |
| 1:59.0 | They don't just occur in people's minds. |
| 2:01.5 | The reality is that the U.S. economy, both in absolute and relative terms, is doing quite well. As you mentioned, unemployment said |
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