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The Mark Simone Show

Mark Interviews Economist Steve Moore

The Mark Simone Show

iHeartRadio and Mark Simone

News

4.3694 Ratings

🗓️ 16 June 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

Mark and Steve talk about President Biden traveling to Saudi Arabia to beg for gas even though we have enough to be self-sufficient. Moore believes we may be in a slight recession right now.

Transcript

Click on a timestamp to play from that location

0:00.0

Well, Steve Moore is one of the top economists, the top three economists, Larry Cudlow, Art Laffer, Steve Moore, and get his new book, Govzilla.

0:09.3

This is an excellent book.

0:10.9

Govzilla.

0:11.5

Also, you can find him at FreedomWorks and go to the committee to unleash prosperity and sign up for the daily briefing.

0:18.5

Steve Moore, how you doing?

0:21.5

I'm doing just fine, Mark.

0:23.4

I'm not sure the country is doing so well.

0:25.5

I mean, I really worried that we're teetering right on the verge of a recession right now.

0:30.7

And, you know, we had the interest rate hike yesterday by the Fed to try to tame this 9% inflation that we have in this country. I don't know if that's enough. I mean, I'm with Larry Kudlow and our laffer. I think we need to take more aggressive action to get this inflation under control. And then I'm just still, my head is still spinning around, Mark, by what the president is now telling the oil companies. I don't know. Have you been following this? Yeah, the good news is he didn't really tell him. He published a letter, which is just a cheap gimmick. It's not like he called him and he talked to him. It's so gimmicky. But we were all on Cudlow yesterday at 4 o'clock every day on the Fox. Oh, yeah, you were on right after me. I, right, exactly.

1:11.5

But you said you believe the recession has begun, and Art Laffer didn't seem to disagree.

1:17.0

So that's pretty scary.

1:18.9

It is here.

1:19.8

You know, we had negative 1.5% growth in the first quarter.

1:24.3

The economy's really rapidly slowed.

1:26.3

It started, the second quarter started a pretty good,

1:28.3

Mark, and now it's slammed to zero growth, you know, for the whole second quarter. Now, we still

1:34.2

have a couple weeks left, but, you know, but I got to tell you, talking to people in the investment

1:39.2

business, talking to small business owners and CEOs of some major companies, they are telling me that about two

1:45.3

weeks ago, everything just, it looks like we just hit a brick wall. Funding investment fell off

1:51.7

dramatically. Consumers are starting to slow down on their spending. You're starting to see

1:56.2

companies declare either hiring freezers or in some cases, you know, some, some layoffs. It's here. And it's a

2:07.0

result of these policies of reversing what we did under Trump. You know, we did the tax cuts. We did

...

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