There's so much news happening around the world that we're somehow supposed to stay on top of.

That's why we launched The Big Take. It's a daily podcast from Bloomberg and I Heart

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I'm Wes Kossova.

Each weekday I dig into one important story and talk about why it matters.

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Apple Podcasts, we bring you insights. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene.

Daily, we bring you insight from the best in economics, finance, investment,

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Bloomberg surveillance from London and from New York.

Paul Sweeney in New York this morning. It has been a dreary and rainy day in New York.

And now the sad news of Paul Volker has died here. I can't convey folks the courage, the intellectual courage of Paul

Volker in the crucible of the late 1970s and into the early 1980s. There is no precedent in our financial history with an important

report on Bob Moon.

Inflation is our friend.

When Saturday Night Live made fun of Jimmy Carter's inflation

headaches in the late 1970s, it was rapidly becoming no laughing matter.

In the year 2000, the current trends continued, the average blue-collar annual wage in this country will be

five hundred and sixty-eight thousand dollars. Good evening, prices in the United

States during the first three months of 1979 went up at an annual rate of 13%.

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