July 15, 2025 • 40 mins
President Trump is once again threatening tariffs against friendly countries and foes alike! While many are concerned about the President’s latest round of tariff rates that have reached their highest level since 1910, inflation has remained fairly stable this year. While inflation is up, it’s not as high as many economists expected when Trump first started rolling out tariffs. Gregory Stoller, professor at Boston University’s Questrom School of Business joined us to discuss Trump’s tariffs and the current state of the U.S. economy.
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Speaker 1 (00:01):
It's night with Dan Ray.
Speaker 2 (00:03):
I'm telling you Boston's niche radio.
Speaker 3 (00:07):
Well, I am very pleased to announce that in my
entire career here in radio, never have I had a
guest volunteer to stay a second hour, and we are delighted.
I got to be honest with you. I didn't want
to be presumptuous. Professor Greg Staller of Boston University Questrom
School of Business said, I'll be happy to stay a
(00:29):
second hour. As I say, I love his passion for
this subject. He's a great professor, great teacher, and we
are all benefited by his presence. Greg, thank you so
much for doing No one else has ever done that
for me, and I thank you well.
Speaker 1 (00:42):
I really enjoy connecting with you and the listeners. It's
it's just all good. And you know, let's let's keep
talking about it, you know, Democrat Republican, tall, tall, short, thin, fat,
let's let's talk it out.
Speaker 3 (00:53):
Absolutely, and I think it's important for people to understand this.
We're going to go to my friend theater in Baltimore.
He is not what you call a Donald Trump fan,
and Theodore we're going to try to stay on tariffs.
How are you tonight? Where is Theodore. Okay, let's put
(01:15):
Theodore on hold and hopefully we can reconnect with Theodore.
He was waiting for the news. Anyway, Let's go next
to Matt and Brighton. Matt and you were next on nightside.
Go right ahead, Matt.
Speaker 4 (01:27):
Hey, then, good to see you back, and happy birthday
and you're welcome. Listen. You know right now, I think
there's a very diverse set of financial.
Speaker 1 (01:46):
What I would call is.
Speaker 4 (01:49):
Diversity. Actually should have said that, laugh, And you know
with the tariffs and stuff, you know, Okay, I'm not
going to bring the president to this. Who I do support?
And then he asked, but I think that there is
a certain section of people that are going to be
affected in many ways by this. I have to be honest.
(02:11):
It doesn't affect me.
Speaker 3 (02:14):
Okay, so you, for whatever reason, they are not going
to be affected, but others are. Who do you think
will most be affected? And I want to get you
to comment and then get Professor Staller to comment on that.
Speaker 4 (02:27):
Okay, yeah, I apologize. I didn't know the professor was
still on the line. I'm who I think is going
to be most affected is I think most of the
blue collar workers and the workers where the you know,
one of the people who came on before the break
(02:48):
had said, even the American made cars and American made items,
you know, are bringing in this foreign parts that are
being made. And I think that is going to play
a massive effect into people who work in that sector,
and it's going to bring the wages down in my opinion,
(03:11):
because let's see if you hit with.
Speaker 3 (03:14):
A lot of lot here, Matt, and I'm trying to
string up together. Yeh, go ahead, so let's get Professor
Staller on that.
Speaker 1 (03:21):
I'm sorry, but I don't follow the thought process. I mean,
in theory, I'm having it too just and again I'm
trying to give the benefit of the dellt here if
I've misunderstood, But if tariffs are helping the US automotive
industry and they are protecting US jobs, in theory, that's
going to get US consumers to buy more US cars,
(03:42):
which should at least keep labor rates stable and unemployment
rates down in the automotive sector, unless you're talking about
a move to evs as opposed to companies that specialize
in combustion engines. But if I misunderstood you, I apologize, Matt.
Speaker 3 (03:59):
Yeah, I think that that if indeed we are losing
automotive automobile manufacturing and now it's going to pick up,
I think that that's going to be a lot of
blue collar jobs which would be saved. I don't follow
your analysis. Go ahead, fair enough.
Speaker 4 (04:20):
I appreciate it, and I apologize I didn't when I
called him, I didn't realize that Professor was still on there,
so I thought it was more of a generalized sense
before I called them. In terms of automotive, what I'm
actually saying is, although there may be more drop that,
I think it's actually going to affect negatively the wages
of most of these workers. That is going to go down,
(04:43):
and a lot of these workers in the American automotive
industry are going to be harmed. I don't know about
the industry itself, but if we're bringing in foreign parts
on these companies is going to have to pay less.
These are paying importation and therapies.
Speaker 1 (05:00):
So I think I understand what you're saying, Matt. Even
American made cars have forty percent of non American made parts.
What you're saying is if those parts are going up
because of the tariffs, is are the labor rates going
to have to be cut down proportionately so the companies
can still make their margins. I'm not so sure it's
(05:21):
going to happen immediately. I think that if I were
a betting man, which I'm not, I would assume that
labor rates are going to stay stable, employment is going
to stay stable before foreign parts with tariffs on them
are going to arbitrarily increase the cost of American cars.
Speaker 4 (05:37):
Okay, yeah, good image the question, and that's exactly what
I asked. And I'm sorry I was joking around there.
Speaker 3 (05:42):
No problem, no problem, we got it out. It's as
simple as that. Thank you, Matt, I appreciate it. Going
to take very quick break here on nightside. Professor greg Staller,
Professor Gregorystaller of Boston University Questroom School of Business is
remaining with us, which I'm delighted, and we're going to
continue to talk about tariffs and we can broaden it
a little bit to the economy as a whole. So
(06:04):
if you'd like to participate and tell us how you
think you're going to do. There's a whole other aspects
that we haven't touched upon, and that is the you know,
five thousand pounds elephant in the room is the whole
question about artificial intelligence and what impact that's going to
(06:25):
have on the economy as well, So we can we
can broaden the conversation remain focused on tariffs. If you
have some thoughts on AI, we certainly are going to
want to hear those as well, Professor, but we gotta
take a very quick break. Remind folks, I got one
line at six one seven, two, five, four to ten thirty,
and I got a couple of lines at six one seven,
nine three one ten thirty. This is an opportunity to
(06:48):
talk to someone who has really traveled the world, particularly
to Asia with students over the last forty years, and
he has seen Asia evolve, and we can talk about
that a little bit as well. Back on night Side
with my guests and your phone calls. Right after this.
Speaker 1 (07:05):
Night Side with Dan Ray, I'm WBZ Boston's news Radio.
Speaker 3 (07:12):
Back to the phones. We go to a veteran caller
from Baltimore, Theodore. We know how you feel about Donald Trump.
Let's try to stay on tarifs. Theodore, welcome back, Thank.
Speaker 5 (07:23):
You very much, Professor Turffs.
Speaker 2 (07:27):
Eventually, like one of your prior callers said, they're going
to be paid by the people.
Speaker 1 (07:31):
Oh, drop the statement.
Speaker 2 (07:33):
We getting one hundred million dollars in receipt at the
same time you're laying off up to a million and
a half government workers. You're cutting benefits all those people.
They won't be buying these so called manufactured cars. They
won't be buying clothes from the thousands of looms that
went silent when our clothing industry went overseas. So all
(07:56):
this stuff about tariffs and him looking good now, as
Dan said, he's not looking good because he's playing a game.
He's playing a one of those games where it's under
what shell is it? Onder? What sholl is it under?
You get ae hundred million dollars with the turfs, but
you're losing half of it, if not more, because of
unemployment going up, people not bond cars. Do you think
(08:18):
him laying off thousands of people is gonna result and
I'm going out bond cars. No, We're here for a recession,
It's no doubt about it.
Speaker 1 (08:26):
Number two, Professor, How about.
Speaker 3 (08:30):
A question, Theodore. I know your point of view, and
I really would prefer if you could at least try
to phrase it as a question. You know, do you
know what I'm saying? I mean, I gotta he's here
to answer questions and to you know, educate me and
you uh, I'll do that. Got to listen to, you know,
to what is a dry trick?
Speaker 2 (08:49):
Go ahead, Yes, sir, professor, what I said? Is it true?
Speaker 1 (08:54):
So I, as I said in the first hour, I
think it depends what side of the defense you're on.
I have come out and said that I'm not going
to comment on whether I'm a Democrat or Republican. That's
not the point of this show. But I will tell
you that over the long term, I believe in free trade,
and over the long term, I don't think tariffs are effective.
To your points, Theodore, that is what I'm concerned about economically,
(09:18):
nothing to do with politics. I'm concerned that if you
lay off enough people and the economy starts to sputter,
and those people are out of work. Exactly to your point,
I don't care whether it's an American made car or
car that's made on the moon. If somebody is not working,
they're not going to be able to afford a new car.
Speaker 2 (09:34):
You are a profit, You are truly a prophet. You
agree with me?
Speaker 1 (09:38):
Number two?
Speaker 2 (09:40):
Everybody heredore it.
Speaker 3 (09:43):
It took hold on. I'm going to allow you number two.
But there it's not going to be number three or
four tonight, go ahead.
Speaker 2 (09:54):
Number two, Professor. This is a question and a statement
in the same in the same way.
Speaker 1 (09:59):
I I have never heard a person who.
Speaker 2 (10:02):
Is confident in life like you, like Dan, Like the
billionaires we're talking about, I've never heard them say I'm
willing for them to take the camp off of Social
Security because the professor, here's the point where I think
you're gonna agree with me. If they took the camp
off of the Social Security taxes, soci scurity will be
solvent for the next five hundred years.
Speaker 3 (10:25):
You know, not true, theater. You may think that's true,
but that is not true. Okay, that's a that's a
little bit of properly five hundred years. What are you
going to raise What are you going to raise the
cap to?
Speaker 2 (10:37):
Theater say that again.
Speaker 3 (10:39):
What are you gonna raise the cap to?
Speaker 2 (10:41):
You're gonna take it's go. It's gonna be paid out
of all Social Security over and above the cap, which
is one hundred and seventy six thousand dollars. So if
Dan makes another five million dollars this year, which is
probably low by my estimate.
Speaker 3 (10:56):
Oh, it's at least thirty or forty million. If that
makes it no way Theodore that I would put up
with conversations with you everything less than forty or forty
million dollars.
Speaker 2 (11:08):
So, yeah, you're right, Theodore.
Speaker 1 (11:10):
Unfortunately, I'm gonna have to agree with Dad on this.
I understand where you're going theoretically, but I don't think
it's that easy. And I don't think I think Dan's
suggestion in the first hour to increase the retirement age
by a couple of years or ten more as you
get older is going familiar with.
Speaker 2 (11:28):
You, Professor. If you increase the retirement age, that's still
not going to say. Look, it's just pushed the problem down.
And I have never I would pay I get Social Security.
I bets you one hundred dollars. You in your position,
and Dan, you couldn't find a man who's comfortable making
the seven million dollars A yeah, that Dan makes you
(11:49):
couldn't find a person to say you.
Speaker 3 (11:51):
Make more than seven Don't insult me, Theodore. Come on,
I make more than seven million dollars. I mean, I'll
allow you to say whatever you want, but you can't
under underestimate the amount of money that I make here, Come.
Speaker 2 (12:02):
On, Dan, I'm sorry, I forgive me any theater.
Speaker 3 (12:06):
I hate to end our conversation. This is one of
the most entertaining conversations of the evening, on a on
a subject that even Professor Staller is able to make interesting.
But thank you. As always, we will we will have
another conversation, I'm sure.
Speaker 2 (12:21):
Sometimes briefly, Dan, I think they need to open up
the Dan Ray files.
Speaker 3 (12:34):
Have a good one.
Speaker 5 (12:35):
Theater.
Speaker 3 (12:36):
They don't pay me in checks, by the way, theater.
Speaker 6 (12:38):
They pay me every week.
Speaker 3 (12:40):
They have a big Brinks truck pull up.
Speaker 7 (12:43):
To my driveway and they have.
Speaker 3 (12:45):
Men loading gold bars off the back of the truck.
That's what That's the way I do it. Thanks. Look
at professor, you thought you had a tough job. Huh.
Let's go to Steve. Steve, you were next. I'm not
sure where you're from, Steve. Where about you calling in from.
Speaker 5 (13:06):
I'm in Virginia beach.
Speaker 3 (13:08):
Virginia Beach, Virginia, go right ahead with just like Baltimore.
Now we're in Virginia Beach. Go ahead, Steve.
Speaker 5 (13:15):
Yeah, I'm a third time caller.
Speaker 3 (13:17):
All right, no ahp plausible. We appreciate you. Keeping track
right here.
Speaker 5 (13:20):
Yeah, yeah, right, Well, I know you were on vacation, Well,
welcome back. You were a vacation on July fourth, and
I was hoping that I would hear, because I don't
live in Boston, that you maybe rented a white horse
and drove through the streets at night yelling the tariffs
are coming, the tariffs are coming.
Speaker 3 (13:36):
I thought about it seriously, but unfortunately I couldn't get
a horse.
Speaker 5 (13:40):
And Okay, I'd be like one if by Ups, two
by that up, yeah.
Speaker 3 (13:47):
Yeah or whatever. One if one if by Trump, two
if by other countries, we'll figure it out.
Speaker 7 (13:54):
Yeah.
Speaker 5 (13:55):
So well, anyway, here's my thoughts on the whole thing is.
You know, I took call before and I say, let's
look at the big picture. And it seems to me,
and see if you agree that it's like the poor
countries are trying to have a lot of kids because
that's their social security. The kids will take care of
the parents as they get older, and so they have
(14:15):
a whole different culture and they're coming like we're depending
on their wages being low to keep products cheap here
so that we if we bring the manufacturing about to us,
we're going to be paying higher labor costs for the
same products and then therefore paying more for the products.
(14:36):
And it seems like it's a I'm not against you know,
tiers completely. I could see in certain circumstances and things,
but this general tarer stuff is, you know, it's shaking
up our normal supply lines. Like people in Canada are
maybe going to trade with other countries more now than
the US. We've got that going on too, opinion, If
(14:59):
you don't mind, Joyce, let's.
Speaker 3 (15:01):
Get Professor Stoller too. Yeah, I mean I think so.
Speaker 1 (15:05):
I'm also a contributor for the Financial Times newspaper, and
I was working on a piece with them about this
very topic. I think to your point, it's very scary
for manufacturers right now in countries like China or other
countries that are looking down the barrel of a gun,
you know, the forty six percent tariff. The fact of
(15:25):
the matter is the United States is in a position
that we can source products from elsewhere and all of
the sudden manufacturers that might have had a thirty year
relationship with the United States potentially going to be left
with nothing, you know, because US manufacturers aren't going to
want to pass on those price increases to consumers. I
think that's what those countries are most concerned about. However,
(15:51):
if those countries say, the heck with the United States,
we're going to do business with Canada, We're going to
do business with France, We're going to do business with Italy,
They're going to say too bad, so sad. When the
United States says, oh, we overreacted, we want to come
back to you, they're going to say, we don't have
the capacity to support you right now. So I think
it's a double edge sword. I think it's a really
good point though.
Speaker 5 (16:12):
Yeah, it's a very concerned. I mean, I don't hear
any economists thinking that tariffs are good, and I you know,
people are just drawing back.
Speaker 3 (16:21):
There's a few economists in the White House.
Speaker 1 (16:25):
Yeah that's true. Yeah. So, as I said, just just
to give a balanced view on this this evening, I think.
Speaker 8 (16:33):
That one would argue that why would we need quote
unquote foreign imports if those same products are produced by
US labor, and why wouldn't we.
Speaker 1 (16:44):
Want to buy Americans? So I think that's the antidote
to your belief. But to Dam's point, it's not something
that happens over a two week period.
Speaker 5 (16:55):
Yeah, well, it's distressing that the supply lines is one thing,
and it's causing you know, Canadians aren't thinking too well
as Americans in general, a believe, and you know it's
causing other destructions.
Speaker 1 (17:07):
Oh yeah, I mean I can tell you that a
lot of people that I know. I'm in touch with
a lot of people because I do a lot of
writing on this stuff. And there are hoteliers that are
on Cape cod that depend on Canadian florists to come
to the Cape and they're not coming. There are a
whole host of other industries that are planning on getting
(17:28):
imports from Canada or other visitors from Canada. It's not
happening right now because the average Canadian is losing faith in.
Speaker 5 (17:36):
The United States exactly. And that's stuff you can't just
repair right away. He's just got to build that every years.
Speaker 1 (17:46):
And that's what I worry about, is that all of
a sudden, if whoever's in the White House decides to
change course, whether that be tomorrow, whether that be six
months from now, whether that be after the midterm elections,
you can't do control the undou like he would on
the computer and said, oh it's all good we're gonna revert,
you know, to where we were before. There might not
(18:07):
be something to revert too.
Speaker 5 (18:10):
Exactly.
Speaker 3 (18:11):
Yeah. I also think, and let me throw this in here,
that this is a complicated subject because if let us say,
the hotel years in Maine or the Cape of Vermont
do not have as many Canadian tourists this year as
they want. If you are an automobile line worker in
(18:37):
Michigan or Ohio, you might be thrilled about the impact
that tariffs will have if somehow that keeps US automobileve
automotive factories functioning here in America and maybe even bring
some factories back, whether it's over two years or five
years the longer term view. So this cuts different ways
(18:58):
for different people.
Speaker 1 (19:03):
I think that time will tell. I also think, and
I've said this repeatedly over the past ninety minutes, it
really depends on what side of the fence you want
to play on. Is that if you are liking Trump,
if you're liking tariffs, you're thrilled. If you're not, you're
in for a very sobering third quarter and fourth quarter
(19:23):
of the calendar.
Speaker 3 (19:24):
Year, no doubt. But the point is that sometimes people
will in effect switch sides of the fence, meaning there
could be hotel yers who were staunch Republicans who if
they feel a negative impact from tariffs, they may decide
to switch their side of the fence, just as some
(19:45):
of those union guys you know in the UAW who
traditionally have been Democrats might find this president more to
their liking than any Republican president.
Speaker 1 (19:59):
Agreed agreement.
Speaker 3 (20:01):
Yeah, Steve, great points. Thank you much as always looking
forward to call number four from Steve from Virginia Beach.
Speaker 5 (20:09):
I appreciate it, and welcome back, and I love your show.
Speaker 3 (20:12):
Thank you, appreciate it very much. You have kind all
right six one seven, two, five, four ten thirty. Couple
lines there and one at six one seven, nine three
one ten thirty. We got the news at the bottom
of the hour and we will continue on again. It's
this is an interesting subject, and I do think people
bring their own political bias to the conversation, at least
(20:35):
some of our listeners. But what I'm trying to do
as best I can under these circumstances, have you just
think about the subject and understand the subject and what
tariffs are all about. From a professor who has seen them,
I guess the good, the bad, and the ugly over
forty years of traveling back and forth between this country,
(20:56):
uh and in Asia, which is just a huge part
of the world. We'll be right back on Nightside right after.
Speaker 7 (21:04):
This, when you're on nights Side with.
Speaker 1 (21:11):
Radio.
Speaker 3 (21:13):
All right, Dan Watkins, thank you very much. Let's get
back to the calls. And by the way, I don't
make like the money that Theodore. Don't tell Theodore that.
Speaker 7 (21:22):
Okay.
Speaker 3 (21:23):
I want Theodore to go to bed tonight and dream
about brestruck pulling up with gold brick gold bars. Okay,
So hopefully Theodore is not listening, but I just wanted
to spell any ugly rumors to the contrary. I'm sorry,
that's that's a personal prerogative. I've done here because I
(21:45):
always am afraid that some listeners might not get my
sarcast Professor stillars. Let's keep rolling. Yeah, well it's iHeart.
CBS News used to love me, not any more. I
loved you even more exactly with iHeart. All right, let's
(22:06):
go next to Tim and Woburn. Tim, you were next
on Nightside.
Speaker 6 (22:10):
Welcome, Hi, Dana needs to take my call hap me birthday.
Speaker 3 (22:15):
Thank you very much. A little belated, but I know
you were thinking. I mean, Tim, I appreciate that.
Speaker 6 (22:20):
Can I asked you, was it eighty your birthday?
Speaker 8 (22:23):
Eighty?
Speaker 3 (22:24):
No, it's July eighth.
Speaker 6 (22:27):
No, but we're you eighty years old?
Speaker 3 (22:28):
Oh? No old. I was in the early nineties. I'm
the oldest show. I'll tell you America.
Speaker 6 (22:36):
We were twenty nine. Andy, how welcome back. I missed you.
Speaker 3 (22:40):
Thank you, Tim. Let's say hi to Professor Greg Staller
of Boston University.
Speaker 6 (22:47):
Hilaria, be you good. Boston University is the best I
saw Bob Dylon there wanted againis arena.
Speaker 1 (22:55):
I'm very, very, very lucky to be here.
Speaker 2 (22:57):
I love it.
Speaker 1 (22:58):
Yes, what's your question now?
Speaker 6 (22:59):
You anyhow?
Speaker 8 (23:01):
Uh?
Speaker 6 (23:02):
The economy. I'm doing great in this economy.
Speaker 3 (23:07):
You're doing great in the economy. Okay. Do you have
a question about tariffs or about the economy?
Speaker 6 (23:14):
Well, the tariffs, right, I think they're necessary. Anyhow, you
guys had to bring struck comes to your house to
pay you. You should have two brinks trucks come.
Speaker 3 (23:25):
You're very kind. You're much too kind, Tim. Now that's
going to even upset theater even more.
Speaker 6 (23:33):
Maybe three brinks. Everything passed through the work, all right,
it's great to talk here.
Speaker 3 (23:40):
Thanks to that.
Speaker 1 (23:41):
You love the show.
Speaker 3 (23:44):
Be well. I know that you had a little accident,
a little bit of any head injury. I hope, I
hope you're doing well.
Speaker 6 (23:52):
The stitches come out Thursday, ten of them. I'm hearing good.
The lady clinics taking care of.
Speaker 3 (23:57):
Me excellent, excellent.
Speaker 6 (24:00):
Thanks him, be well, care about me and I care
about you.
Speaker 3 (24:04):
Back at you, my friend, Thank you much.
Speaker 6 (24:05):
You're always well all right, Thanks him.
Speaker 3 (24:09):
Thank you so much. Have a great night. Let me
go next to Terry in Harvard's Port and Harwich on
Cape Cord. Terry, welcome back to night Side.
Speaker 7 (24:17):
How are you, hi, Dan, I'm okay and happy belated
birthday you.
Speaker 3 (24:23):
Thank you, thank you so much.
Speaker 7 (24:26):
No matter how many bank truck comes, someone's.
Speaker 3 (24:33):
Going to believe that, and it's going to be horrible.
Speaker 7 (24:37):
Just a half of one over to me, and that
would be great, Kerry.
Speaker 3 (24:41):
If I had a brinkstruck coming to me, you definitely
would get happy. You're such a loyal listener. And uh
and and my cape caught correspondent. You're professor Greg Staller
of Boston University, the Question School of Business. You can
ask anything you like or make any comment you want,
you go right ahead. Day.
Speaker 7 (25:02):
So that's it's it's a real pleasure to get to
speak to you, sir. I'm going to a swim ast
little slice of the global picture that you look at,
because my little pea brain can't look at the whole
thing anymore.
Speaker 8 (25:20):
So.
Speaker 7 (25:20):
In my little town, which Dan is very familiar with,
we have the majority of seniors about sixteen thousand, seven
hundred taxpayers, and I see many of them, and some
of them are doing extremely well because they are well off,
(25:45):
and others are just barely squeaking by and are really scared.
So how do you see seniors on fixed incomes maneuvering thing?
Speaker 1 (26:02):
Yeah, that's very difficult, great question, that's a very good question. Actually,
that was what we have been talking about for now
almost two hours. Is the one negative of tariffs is
their causing inflation. And inflation is the absolute scariest thing
(26:23):
if you're on a fixed income, because your cost of
living adjustment, if you're getting attention, is not going to
keep up, even if you are depending on your investment returns.
This year you have been lucky to make six percent,
and that's before you have to pay any taxes. I
think that is what keeps me up at night about
these tariffs over the long term is what's going to
(26:44):
happen with inflation, And again attempting to remain nonpartisan, if
Chairman Powell lowers interest rates or his success or lowers
interest rates, that could further stoke the embers of inflation
and cause a bad situation get any worse.
Speaker 3 (27:02):
Well, I guess the argument against that, the Trump argument
would be, I believe is that if interest rates were lowered,
there'd be a lot more a lot more people who
could get involved in the housing market because right now
housing prices for young people, particularly people starting out, are
(27:24):
very high. How do you balance those interests? Professor Staller
and I think so.
Speaker 1 (27:31):
Interestingly enough, there is a new term that has been
bantered about called revenge saving, where millennials and gen zs
are making a point to reduce non to reduce discretionary purchases,
to put money towards the house support toward four to
one k. I think, on the face of it, that
(27:52):
makes a lot of sense. But you can't just save
if you're trying to buy a one million dollar house
two hundred and fifty thousand dollars or a twenty five
percent payment between now and next Tuesday. It's going to
take time, but I think that it can only help
over the long term to have lower interest rates. But
as you've been saying all evening, Dan, this is a
(28:13):
three legged stool in the sense that you know, you
make the adjustments on one leg, and it's not like
the stool is going to be perfectly fixed. You're going
to have to catch up on you know, legs two
or three of that stool. It's just not obvious. But
I will tell you, Terry, that fixed income is really scary.
I know a lot of people who are seniors. I
volunteer for a Massachusetts healthcare nonprofit and we talk about
(28:37):
this on a regular basis. It's really really scary stuff.
Speaker 7 (28:41):
Yes, And the thing is people like elder services, everybody's
not getting any help because everybody lost always their donators
for people to look.
Speaker 3 (29:02):
Terry, are you want social security? Is that your primary
source of income?
Speaker 7 (29:07):
Absolutely?
Speaker 3 (29:08):
Okay, Yeah. Now, the good thing about social Security is
that there is a cost of living adjustment that comes
to or one of the good things about social Security
is there is a cola people who are on pensions
that generally is no at least from my experience, there's
(29:29):
no cost of living increase on a pension.
Speaker 7 (29:33):
And some people Dan, unfortunately, have outlived their pensions. Yeah, yeah,
social Security and everybody's like, oh my god, what am
I going to do now?
Speaker 1 (29:48):
And that's what Dan was talking about in the first hour,
is that the blessing and the curse of the US
healthcare system is that we're living longer. And when you
live longer, it's not like your costs go down, especially
if you need more healthcare, et cetera. It is it
is something that I think politicians and economists are giving
(30:09):
a lot more thought to in in my opinion, in
the past five or ten years, because people's life expectancy
is going up, which is obviously terrific, but you know
that doesn't come cost free.
Speaker 7 (30:21):
Exactly. I just wonder if maybe you had a new
bit of wisdom to pass on to folks. And I
appreciate your time, professor, thank you.
Speaker 1 (30:37):
For its call. Terry. I appreciate your perspective and thank
you for uh, you know, making the Harwich sports community
so special.
Speaker 3 (30:44):
All Right, thanks Terry, talk to you soon.
Speaker 7 (30:46):
Bye bye bye Dan, Bye bye Derry.
Speaker 3 (30:49):
All right, we have just about fifteen minutes left here
and I have some open lines if you'd like six
one seven, two, five, four, ten thirty, six, one seven,
nine thirty. My guest is Professor Gregory Stoller of Boston University,
the Questrum School of Business. Uh he has he's a
young man, but he has been a business school professor
(31:12):
at Boston College and at Boston University for a long
time both schools, and even more importantly, he has led
for forty years student on student trips to Asia. And
I have questions about that, but I love to again.
I don't want to deprive any caller who wants to
(31:34):
call in and ask a question. Mekea comments six one seven,
two four to ten thirty six one seven, nine three,
ten thirty be backed with Professor greg Staller. Feel free
join the conversation. I've I've loved the hour and forty
five minutes to have spent, and I hope the next
fifteen minutes will top it off very very effectively. As
(31:56):
we've learned a lot about again about tariffs and how
they will affect different people differently, and how they will
have a big impact. The one thing we haven't talked
about is the arrival. The additional issue of artificial intelligence
and how that will affect us not only here but
(32:18):
in other countries around the world. Back on night Side.
Speaker 1 (32:21):
Right after this, it's Night Side with Boston's news Radio.
Speaker 3 (32:29):
Back to the phones, we go with Professor Greg Staller
of Boston University quest from School of Business. Who're talking
about tarifs and about the economy affects everyone. Eric is
in Boston. Eric, appreciate your calling in. You're next on
Nice Side with Professor Staller.
Speaker 1 (32:44):
Go right ahead, So Ron, thanks so much.
Speaker 9 (32:48):
Stand is a great show.
Speaker 3 (32:49):
Thank you.
Speaker 9 (32:50):
First question for you is what is the impact of
AI on business?
Speaker 3 (32:54):
Wow, that's a that's a pretty broad question and I'm
going to leave that one to Professor Stallar it is.
Speaker 1 (33:03):
It's a good question, Eric. I think that I would
answer that by saying that, once again, like tariffs, I
don't think this is something that's going to be resolved
in a year or two. I think that AI is
certainly going to make international business a lot easier. I
think it's going to make it a lot faster. I'm
(33:23):
not so sure that I ube that it's going to
cost you know, thirty percent of the workforce to lose
their jobs within six to eight months. I think it's gradual,
and I think that as people get more fluent with AI.
I think as people get more comfortable with it, a
lot of the stigma is going to go away. And
I think people are simply going to be more productive.
(33:45):
And I think that is very much part and parcel
to what's happening with the tariffs.
Speaker 7 (33:51):
Now.
Speaker 9 (33:51):
The mindset in today's world is that AI has the
great potential have taken away jobs or taken away valuable
people who operate those jobs. Do you think that long term,
once AI develops a more rigorous and primary use of operations,
that will open the door for more jobs or do
(34:13):
you think it still has our people thinking of job
long term?
Speaker 1 (34:19):
Good collar Dan, Yeah, Eric, I think it's a really
good follow up. I think that if you tend to
educate yourself and you become more fluent about AI, I
think that you can start developing the prompts and know
how to use AI effectively, and you can become more productive.
If you're going to say, oh, this is a problem,
(34:41):
I'm potentially going to lose my job, then that is
the people who are going to be at the whim
of the computer.
Speaker 3 (34:53):
The other thing change to remember is that that, you know,
everything seems to be moving so fast. I mean, if
you want to talk about cell phones, you know, in
terms of what they do today compared to when when
there was sort of like I don't remember in the
(35:16):
nineteen eighties, they were portable phones that people had. We
had portable phones in television, but they were bulky. All
they were was just portable phones. That looks like the
dark ages. So is there something coming along that's going
to eclipse AI. I wouldn't take a guess at that,
Professor Staller. I assume that what we don't we don't
(35:41):
know what we don't know, that's correct.
Speaker 1 (35:44):
I think that, like tariffs, it's something that is easy
to talk about. I think it attracts eyeballs to websites.
I think it gets people to read newspapers. I'm not
so sure that it's going to be an immediate impact,
and I certainly would not put that right now on
the same level of tariffs. I think tariffs are going
to have a much more immediate impact on the economy,
(36:07):
either good or bad, than AI is going to be
over the long term.
Speaker 3 (36:10):
All right, Eric, appreciate you call great questions. Thank you
so much.
Speaker 9 (36:15):
Thank you good night.
Speaker 3 (36:16):
Let me go to Vinnie in Brighton. Vinnie, you're gonna
wrap the hour for us, Go right ahead, Vinnie.
Speaker 10 (36:22):
Hey, thank you so much. Dan, it's nice to be
on your show. How are you doing tonight?
Speaker 3 (36:26):
I'm doing just great. It's been a different type show.
I so appreciate that Professor Staller would not only give
us an hour of his time, but two hours of
his time. It's we're very lucky. You go right ahead.
You got the final compentent question for Professor Greg Staller
of the question School of Business, Very Mustage University.
Speaker 10 (36:46):
Understood. I'm not sure if this professor has any competencies
in AI, as I'm just now tuning in, so forgive
my ignorance, but go ahead.
Speaker 9 (36:57):
Thank you.
Speaker 10 (36:58):
My curiosities as to or your all's perception of AI
coming to subsume more jobs than new jobs it puts forth.
I am a PhD student in computer science. I leverage
AI in my research. In fact, I'm working on my
(37:21):
own take of a model, my own architecture of AI,
and I love it. I mean, by all means, I'm
stimulated to work on this. But my fear at a
societal level is that we're already experiencing difficulties in the
job market when it comes to recent grads in tech
fields because entry level positions are oftentimes easily subsumable by
(37:48):
persons at higher levels in that industry who have some
AI competencies. I want to know if you share this
concern that AI will be causing a social problem by
making let's let's.
Speaker 3 (38:04):
Get a quick let's get a quick response from him
on that. You phrased the question really well, Vini appreciated it.
Go right ahead.
Speaker 1 (38:10):
I know, again this isn't my expertise, but I don't
necessarily buy that it's going to be a sort of
nuclear type option that everybody's going to lose their job.
I will remind you, Vinnie, that in the late eighties
and early nineties, as personal computers started to get popular,
you know, the TRSA Model three, a lot of people
were saying, oh my god, computers are going to cost
(38:33):
me my job, and oh my god, what's going to
happen if computers replace manual if manual data entry or
stuff of that ilk you know, the economy survived, you know,
employment survived. And I would argue that because of computers,
jobs have been created in the past five or ten
years that never existed twenty or thirty years ago. I
(38:56):
think the same is true of AI. Yes, I do
think there's going to be some collateral damage, but I
think on net, it's going to be better for the
economy and better for employment over the long term when
people like you are getting their PhDs a data science
and you're gonna be able to run these computers as
opposed to getting run by them.
Speaker 3 (39:15):
All right, Vinnie, at that point we got to wrap
it up. I apologize, but we've run out of time.
Thanks Vinnie. I'm glad you got it. Was a great
timely question to end the hour. There were a couple
of callers in the line who were too late. Professor
Greg Staller of Boston University questionrom School of Business two hours.
I thank you very much, as like pitching a doubleheader.
Speaker 1 (39:36):
Thanks Professor, Thanks, Thanks Jeb for everything.
Speaker 3 (39:38):
Dan Top soon, not soon, Absolutely, we're done for the night.
I'll be on night side with Dan Ray on Facebook
at about five three or three or four minutes. I'll end,
as always on Dogs on Cats, All pets go to Heaven.
That's where Mike Pal Charlie Ray is, who passed fifteen
years ago in February. That's where all your pets are
who have passed. They love you and you love them,
and I do believe you'll see them again. Hope to
(40:00):
see again tomorrow night on nightside. Have a great Wednesday, everyone,
stay safe, stay well, and thank you for calling, Thank
you for listening. My name's Dan Ray.
It's night with Dan Ray.
Speaker 2 (00:03):
I'm telling you Boston's niche radio.
Speaker 3 (00:07):
Well, I am very pleased to announce that in my
entire career here in radio, never have I had a
guest volunteer to stay a second hour, and we are delighted.
I got to be honest with you. I didn't want
to be presumptuous. Professor Greg Staller of Boston University Questrom
School of Business said, I'll be happy to stay a
(00:29):
second hour. As I say, I love his passion for
this subject. He's a great professor, great teacher, and we
are all benefited by his presence. Greg, thank you so
much for doing No one else has ever done that
for me, and I thank you well.
Speaker 1 (00:42):
I really enjoy connecting with you and the listeners. It's
it's just all good. And you know, let's let's keep
talking about it, you know, Democrat Republican, tall, tall, short, thin, fat,
let's let's talk it out.
Speaker 3 (00:53):
Absolutely, and I think it's important for people to understand this.
We're going to go to my friend theater in Baltimore.
He is not what you call a Donald Trump fan,
and Theodore we're going to try to stay on tariffs.
How are you tonight? Where is Theodore. Okay, let's put
(01:15):
Theodore on hold and hopefully we can reconnect with Theodore.
He was waiting for the news. Anyway, Let's go next
to Matt and Brighton. Matt and you were next on nightside.
Go right ahead, Matt.
Speaker 4 (01:27):
Hey, then, good to see you back, and happy birthday
and you're welcome. Listen. You know right now, I think
there's a very diverse set of financial.
Speaker 1 (01:46):
What I would call is.
Speaker 4 (01:49):
Diversity. Actually should have said that, laugh, And you know
with the tariffs and stuff, you know, Okay, I'm not
going to bring the president to this. Who I do support?
And then he asked, but I think that there is
a certain section of people that are going to be
affected in many ways by this. I have to be honest.
(02:11):
It doesn't affect me.
Speaker 3 (02:14):
Okay, so you, for whatever reason, they are not going
to be affected, but others are. Who do you think
will most be affected? And I want to get you
to comment and then get Professor Staller to comment on that.
Speaker 4 (02:27):
Okay, yeah, I apologize. I didn't know the professor was
still on the line. I'm who I think is going
to be most affected is I think most of the
blue collar workers and the workers where the you know,
one of the people who came on before the break
(02:48):
had said, even the American made cars and American made items,
you know, are bringing in this foreign parts that are
being made. And I think that is going to play
a massive effect into people who work in that sector,
and it's going to bring the wages down in my opinion,
(03:11):
because let's see if you hit with.
Speaker 3 (03:14):
A lot of lot here, Matt, and I'm trying to
string up together. Yeh, go ahead, so let's get Professor
Staller on that.
Speaker 1 (03:21):
I'm sorry, but I don't follow the thought process. I mean,
in theory, I'm having it too just and again I'm
trying to give the benefit of the dellt here if
I've misunderstood, But if tariffs are helping the US automotive
industry and they are protecting US jobs, in theory, that's
going to get US consumers to buy more US cars,
(03:42):
which should at least keep labor rates stable and unemployment
rates down in the automotive sector, unless you're talking about
a move to evs as opposed to companies that specialize
in combustion engines. But if I misunderstood you, I apologize, Matt.
Speaker 3 (03:59):
Yeah, I think that that if indeed we are losing
automotive automobile manufacturing and now it's going to pick up,
I think that that's going to be a lot of
blue collar jobs which would be saved. I don't follow
your analysis. Go ahead, fair enough.
Speaker 4 (04:20):
I appreciate it, and I apologize I didn't when I
called him, I didn't realize that Professor was still on there,
so I thought it was more of a generalized sense
before I called them. In terms of automotive, what I'm
actually saying is, although there may be more drop that,
I think it's actually going to affect negatively the wages
of most of these workers. That is going to go down,
(04:43):
and a lot of these workers in the American automotive
industry are going to be harmed. I don't know about
the industry itself, but if we're bringing in foreign parts
on these companies is going to have to pay less.
These are paying importation and therapies.
Speaker 1 (05:00):
So I think I understand what you're saying, Matt. Even
American made cars have forty percent of non American made parts.
What you're saying is if those parts are going up
because of the tariffs, is are the labor rates going
to have to be cut down proportionately so the companies
can still make their margins. I'm not so sure it's
(05:21):
going to happen immediately. I think that if I were
a betting man, which I'm not, I would assume that
labor rates are going to stay stable, employment is going
to stay stable before foreign parts with tariffs on them
are going to arbitrarily increase the cost of American cars.
Speaker 4 (05:37):
Okay, yeah, good image the question, and that's exactly what
I asked. And I'm sorry I was joking around there.
Speaker 3 (05:42):
No problem, no problem, we got it out. It's as
simple as that. Thank you, Matt, I appreciate it. Going
to take very quick break here on nightside. Professor greg Staller,
Professor Gregorystaller of Boston University Questroom School of Business is
remaining with us, which I'm delighted, and we're going to
continue to talk about tariffs and we can broaden it
a little bit to the economy as a whole. So
(06:04):
if you'd like to participate and tell us how you
think you're going to do. There's a whole other aspects
that we haven't touched upon, and that is the you know,
five thousand pounds elephant in the room is the whole
question about artificial intelligence and what impact that's going to
(06:25):
have on the economy as well, So we can we
can broaden the conversation remain focused on tariffs. If you
have some thoughts on AI, we certainly are going to
want to hear those as well, Professor, but we gotta
take a very quick break. Remind folks, I got one
line at six one seven, two, five, four to ten thirty,
and I got a couple of lines at six one seven,
nine three one ten thirty. This is an opportunity to
(06:48):
talk to someone who has really traveled the world, particularly
to Asia with students over the last forty years, and
he has seen Asia evolve, and we can talk about
that a little bit as well. Back on night Side
with my guests and your phone calls. Right after this.
Speaker 1 (07:05):
Night Side with Dan Ray, I'm WBZ Boston's news Radio.
Speaker 3 (07:12):
Back to the phones. We go to a veteran caller
from Baltimore, Theodore. We know how you feel about Donald Trump.
Let's try to stay on tarifs. Theodore, welcome back, Thank.
Speaker 5 (07:23):
You very much, Professor Turffs.
Speaker 2 (07:27):
Eventually, like one of your prior callers said, they're going
to be paid by the people.
Speaker 1 (07:31):
Oh, drop the statement.
Speaker 2 (07:33):
We getting one hundred million dollars in receipt at the
same time you're laying off up to a million and
a half government workers. You're cutting benefits all those people.
They won't be buying these so called manufactured cars. They
won't be buying clothes from the thousands of looms that
went silent when our clothing industry went overseas. So all
(07:56):
this stuff about tariffs and him looking good now, as
Dan said, he's not looking good because he's playing a game.
He's playing a one of those games where it's under
what shell is it? Onder? What sholl is it under?
You get ae hundred million dollars with the turfs, but
you're losing half of it, if not more, because of
unemployment going up, people not bond cars. Do you think
(08:18):
him laying off thousands of people is gonna result and
I'm going out bond cars. No, We're here for a recession,
It's no doubt about it.
Speaker 1 (08:26):
Number two, Professor, How about.
Speaker 3 (08:30):
A question, Theodore. I know your point of view, and
I really would prefer if you could at least try
to phrase it as a question. You know, do you
know what I'm saying? I mean, I gotta he's here
to answer questions and to you know, educate me and
you uh, I'll do that. Got to listen to, you know,
to what is a dry trick?
Speaker 2 (08:49):
Go ahead, Yes, sir, professor, what I said? Is it true?
Speaker 1 (08:54):
So I, as I said in the first hour, I
think it depends what side of the defense you're on.
I have come out and said that I'm not going
to comment on whether I'm a Democrat or Republican. That's
not the point of this show. But I will tell
you that over the long term, I believe in free trade,
and over the long term, I don't think tariffs are effective.
To your points, Theodore, that is what I'm concerned about economically,
(09:18):
nothing to do with politics. I'm concerned that if you
lay off enough people and the economy starts to sputter,
and those people are out of work. Exactly to your point,
I don't care whether it's an American made car or
car that's made on the moon. If somebody is not working,
they're not going to be able to afford a new car.
Speaker 2 (09:34):
You are a profit, You are truly a prophet. You
agree with me?
Speaker 1 (09:38):
Number two?
Speaker 2 (09:40):
Everybody heredore it.
Speaker 3 (09:43):
It took hold on. I'm going to allow you number two.
But there it's not going to be number three or
four tonight, go ahead.
Speaker 2 (09:54):
Number two, Professor. This is a question and a statement
in the same in the same way.
Speaker 1 (09:59):
I I have never heard a person who.
Speaker 2 (10:02):
Is confident in life like you, like Dan, Like the
billionaires we're talking about, I've never heard them say I'm
willing for them to take the camp off of Social
Security because the professor, here's the point where I think
you're gonna agree with me. If they took the camp
off of the Social Security taxes, soci scurity will be
solvent for the next five hundred years.
Speaker 3 (10:25):
You know, not true, theater. You may think that's true,
but that is not true. Okay, that's a that's a
little bit of properly five hundred years. What are you
going to raise What are you going to raise the
cap to?
Speaker 2 (10:37):
Theater say that again.
Speaker 3 (10:39):
What are you gonna raise the cap to?
Speaker 2 (10:41):
You're gonna take it's go. It's gonna be paid out
of all Social Security over and above the cap, which
is one hundred and seventy six thousand dollars. So if
Dan makes another five million dollars this year, which is
probably low by my estimate.
Speaker 3 (10:56):
Oh, it's at least thirty or forty million. If that
makes it no way Theodore that I would put up
with conversations with you everything less than forty or forty
million dollars.
Speaker 2 (11:08):
So, yeah, you're right, Theodore.
Speaker 1 (11:10):
Unfortunately, I'm gonna have to agree with Dad on this.
I understand where you're going theoretically, but I don't think
it's that easy. And I don't think I think Dan's
suggestion in the first hour to increase the retirement age
by a couple of years or ten more as you
get older is going familiar with.
Speaker 2 (11:28):
You, Professor. If you increase the retirement age, that's still
not going to say. Look, it's just pushed the problem down.
And I have never I would pay I get Social Security.
I bets you one hundred dollars. You in your position,
and Dan, you couldn't find a man who's comfortable making
the seven million dollars A yeah, that Dan makes you
(11:49):
couldn't find a person to say you.
Speaker 3 (11:51):
Make more than seven Don't insult me, Theodore. Come on,
I make more than seven million dollars. I mean, I'll
allow you to say whatever you want, but you can't
under underestimate the amount of money that I make here, Come.
Speaker 2 (12:02):
On, Dan, I'm sorry, I forgive me any theater.
Speaker 3 (12:06):
I hate to end our conversation. This is one of
the most entertaining conversations of the evening, on a on
a subject that even Professor Staller is able to make interesting.
But thank you. As always, we will we will have
another conversation, I'm sure.
Speaker 2 (12:21):
Sometimes briefly, Dan, I think they need to open up
the Dan Ray files.
Speaker 3 (12:34):
Have a good one.
Speaker 5 (12:35):
Theater.
Speaker 3 (12:36):
They don't pay me in checks, by the way, theater.
Speaker 6 (12:38):
They pay me every week.
Speaker 3 (12:40):
They have a big Brinks truck pull up.
Speaker 7 (12:43):
To my driveway and they have.
Speaker 3 (12:45):
Men loading gold bars off the back of the truck.
That's what That's the way I do it. Thanks. Look
at professor, you thought you had a tough job. Huh.
Let's go to Steve. Steve, you were next. I'm not
sure where you're from, Steve. Where about you calling in from.
Speaker 5 (13:06):
I'm in Virginia beach.
Speaker 3 (13:08):
Virginia Beach, Virginia, go right ahead with just like Baltimore.
Now we're in Virginia Beach. Go ahead, Steve.
Speaker 5 (13:15):
Yeah, I'm a third time caller.
Speaker 3 (13:17):
All right, no ahp plausible. We appreciate you. Keeping track
right here.
Speaker 5 (13:20):
Yeah, yeah, right, Well, I know you were on vacation, Well,
welcome back. You were a vacation on July fourth, and
I was hoping that I would hear, because I don't
live in Boston, that you maybe rented a white horse
and drove through the streets at night yelling the tariffs
are coming, the tariffs are coming.
Speaker 3 (13:36):
I thought about it seriously, but unfortunately I couldn't get
a horse.
Speaker 5 (13:40):
And Okay, I'd be like one if by Ups, two
by that up, yeah.
Speaker 3 (13:47):
Yeah or whatever. One if one if by Trump, two
if by other countries, we'll figure it out.
Speaker 7 (13:54):
Yeah.
Speaker 5 (13:55):
So well, anyway, here's my thoughts on the whole thing is.
You know, I took call before and I say, let's
look at the big picture. And it seems to me,
and see if you agree that it's like the poor
countries are trying to have a lot of kids because
that's their social security. The kids will take care of
the parents as they get older, and so they have
(14:15):
a whole different culture and they're coming like we're depending
on their wages being low to keep products cheap here
so that we if we bring the manufacturing about to us,
we're going to be paying higher labor costs for the
same products and then therefore paying more for the products.
(14:36):
And it seems like it's a I'm not against you know,
tiers completely. I could see in certain circumstances and things,
but this general tarer stuff is, you know, it's shaking
up our normal supply lines. Like people in Canada are
maybe going to trade with other countries more now than
the US. We've got that going on too, opinion, If
(14:59):
you don't mind, Joyce, let's.
Speaker 3 (15:01):
Get Professor Stoller too. Yeah, I mean I think so.
Speaker 1 (15:05):
I'm also a contributor for the Financial Times newspaper, and
I was working on a piece with them about this
very topic. I think to your point, it's very scary
for manufacturers right now in countries like China or other
countries that are looking down the barrel of a gun,
you know, the forty six percent tariff. The fact of
(15:25):
the matter is the United States is in a position
that we can source products from elsewhere and all of
the sudden manufacturers that might have had a thirty year
relationship with the United States potentially going to be left
with nothing, you know, because US manufacturers aren't going to
want to pass on those price increases to consumers. I
think that's what those countries are most concerned about. However,
(15:51):
if those countries say, the heck with the United States,
we're going to do business with Canada, We're going to
do business with France, We're going to do business with Italy,
They're going to say too bad, so sad. When the
United States says, oh, we overreacted, we want to come
back to you, they're going to say, we don't have
the capacity to support you right now. So I think
it's a double edge sword. I think it's a really
good point though.
Speaker 5 (16:12):
Yeah, it's a very concerned. I mean, I don't hear
any economists thinking that tariffs are good, and I you know,
people are just drawing back.
Speaker 3 (16:21):
There's a few economists in the White House.
Speaker 1 (16:25):
Yeah that's true. Yeah. So, as I said, just just
to give a balanced view on this this evening, I think.
Speaker 8 (16:33):
That one would argue that why would we need quote
unquote foreign imports if those same products are produced by
US labor, and why wouldn't we.
Speaker 1 (16:44):
Want to buy Americans? So I think that's the antidote
to your belief. But to Dam's point, it's not something
that happens over a two week period.
Speaker 5 (16:55):
Yeah, well, it's distressing that the supply lines is one thing,
and it's causing you know, Canadians aren't thinking too well
as Americans in general, a believe, and you know it's
causing other destructions.
Speaker 1 (17:07):
Oh yeah, I mean I can tell you that a
lot of people that I know. I'm in touch with
a lot of people because I do a lot of
writing on this stuff. And there are hoteliers that are
on Cape cod that depend on Canadian florists to come
to the Cape and they're not coming. There are a
whole host of other industries that are planning on getting
(17:28):
imports from Canada or other visitors from Canada. It's not
happening right now because the average Canadian is losing faith in.
Speaker 5 (17:36):
The United States exactly. And that's stuff you can't just
repair right away. He's just got to build that every years.
Speaker 1 (17:46):
And that's what I worry about, is that all of
a sudden, if whoever's in the White House decides to
change course, whether that be tomorrow, whether that be six
months from now, whether that be after the midterm elections,
you can't do control the undou like he would on
the computer and said, oh it's all good we're gonna revert,
you know, to where we were before. There might not
(18:07):
be something to revert too.
Speaker 5 (18:10):
Exactly.
Speaker 3 (18:11):
Yeah. I also think, and let me throw this in here,
that this is a complicated subject because if let us say,
the hotel years in Maine or the Cape of Vermont
do not have as many Canadian tourists this year as
they want. If you are an automobile line worker in
(18:37):
Michigan or Ohio, you might be thrilled about the impact
that tariffs will have if somehow that keeps US automobileve
automotive factories functioning here in America and maybe even bring
some factories back, whether it's over two years or five
years the longer term view. So this cuts different ways
(18:58):
for different people.
Speaker 1 (19:03):
I think that time will tell. I also think, and
I've said this repeatedly over the past ninety minutes, it
really depends on what side of the fence you want
to play on. Is that if you are liking Trump,
if you're liking tariffs, you're thrilled. If you're not, you're
in for a very sobering third quarter and fourth quarter
(19:23):
of the calendar.
Speaker 3 (19:24):
Year, no doubt. But the point is that sometimes people
will in effect switch sides of the fence, meaning there
could be hotel yers who were staunch Republicans who if
they feel a negative impact from tariffs, they may decide
to switch their side of the fence, just as some
(19:45):
of those union guys you know in the UAW who
traditionally have been Democrats might find this president more to
their liking than any Republican president.
Speaker 1 (19:59):
Agreed agreement.
Speaker 3 (20:01):
Yeah, Steve, great points. Thank you much as always looking
forward to call number four from Steve from Virginia Beach.
Speaker 5 (20:09):
I appreciate it, and welcome back, and I love your show.
Speaker 3 (20:12):
Thank you, appreciate it very much. You have kind all
right six one seven, two, five, four ten thirty. Couple
lines there and one at six one seven, nine three
one ten thirty. We got the news at the bottom
of the hour and we will continue on again. It's
this is an interesting subject, and I do think people
bring their own political bias to the conversation, at least
(20:35):
some of our listeners. But what I'm trying to do
as best I can under these circumstances, have you just
think about the subject and understand the subject and what
tariffs are all about. From a professor who has seen them,
I guess the good, the bad, and the ugly over
forty years of traveling back and forth between this country,
(20:56):
uh and in Asia, which is just a huge part
of the world. We'll be right back on Nightside right after.
Speaker 7 (21:04):
This, when you're on nights Side with.
Speaker 1 (21:11):
Radio.
Speaker 3 (21:13):
All right, Dan Watkins, thank you very much. Let's get
back to the calls. And by the way, I don't
make like the money that Theodore. Don't tell Theodore that.
Speaker 7 (21:22):
Okay.
Speaker 3 (21:23):
I want Theodore to go to bed tonight and dream
about brestruck pulling up with gold brick gold bars. Okay,
So hopefully Theodore is not listening, but I just wanted
to spell any ugly rumors to the contrary. I'm sorry,
that's that's a personal prerogative. I've done here because I
(21:45):
always am afraid that some listeners might not get my
sarcast Professor stillars. Let's keep rolling. Yeah, well it's iHeart.
CBS News used to love me, not any more. I
loved you even more exactly with iHeart. All right, let's
(22:06):
go next to Tim and Woburn. Tim, you were next
on Nightside.
Speaker 6 (22:10):
Welcome, Hi, Dana needs to take my call hap me birthday.
Speaker 3 (22:15):
Thank you very much. A little belated, but I know
you were thinking. I mean, Tim, I appreciate that.
Speaker 6 (22:20):
Can I asked you, was it eighty your birthday?
Speaker 8 (22:23):
Eighty?
Speaker 3 (22:24):
No, it's July eighth.
Speaker 6 (22:27):
No, but we're you eighty years old?
Speaker 3 (22:28):
Oh? No old. I was in the early nineties. I'm
the oldest show. I'll tell you America.
Speaker 6 (22:36):
We were twenty nine. Andy, how welcome back. I missed you.
Speaker 3 (22:40):
Thank you, Tim. Let's say hi to Professor Greg Staller
of Boston University.
Speaker 6 (22:47):
Hilaria, be you good. Boston University is the best I
saw Bob Dylon there wanted againis arena.
Speaker 1 (22:55):
I'm very, very, very lucky to be here.
Speaker 2 (22:57):
I love it.
Speaker 1 (22:58):
Yes, what's your question now?
Speaker 6 (22:59):
You anyhow?
Speaker 8 (23:01):
Uh?
Speaker 6 (23:02):
The economy. I'm doing great in this economy.
Speaker 3 (23:07):
You're doing great in the economy. Okay. Do you have
a question about tariffs or about the economy?
Speaker 6 (23:14):
Well, the tariffs, right, I think they're necessary. Anyhow, you
guys had to bring struck comes to your house to
pay you. You should have two brinks trucks come.
Speaker 3 (23:25):
You're very kind. You're much too kind, Tim. Now that's
going to even upset theater even more.
Speaker 6 (23:33):
Maybe three brinks. Everything passed through the work, all right,
it's great to talk here.
Speaker 3 (23:40):
Thanks to that.
Speaker 1 (23:41):
You love the show.
Speaker 3 (23:44):
Be well. I know that you had a little accident,
a little bit of any head injury. I hope, I
hope you're doing well.
Speaker 6 (23:52):
The stitches come out Thursday, ten of them. I'm hearing good.
The lady clinics taking care of.
Speaker 3 (23:57):
Me excellent, excellent.
Speaker 6 (24:00):
Thanks him, be well, care about me and I care
about you.
Speaker 3 (24:04):
Back at you, my friend, Thank you much.
Speaker 6 (24:05):
You're always well all right, Thanks him.
Speaker 3 (24:09):
Thank you so much. Have a great night. Let me
go next to Terry in Harvard's Port and Harwich on
Cape Cord. Terry, welcome back to night Side.
Speaker 7 (24:17):
How are you, hi, Dan, I'm okay and happy belated
birthday you.
Speaker 3 (24:23):
Thank you, thank you so much.
Speaker 7 (24:26):
No matter how many bank truck comes, someone's.
Speaker 3 (24:33):
Going to believe that, and it's going to be horrible.
Speaker 7 (24:37):
Just a half of one over to me, and that
would be great, Kerry.
Speaker 3 (24:41):
If I had a brinkstruck coming to me, you definitely
would get happy. You're such a loyal listener. And uh
and and my cape caught correspondent. You're professor Greg Staller
of Boston University, the Question School of Business. You can
ask anything you like or make any comment you want,
you go right ahead. Day.
Speaker 7 (25:02):
So that's it's it's a real pleasure to get to
speak to you, sir. I'm going to a swim ast
little slice of the global picture that you look at,
because my little pea brain can't look at the whole
thing anymore.
Speaker 8 (25:20):
So.
Speaker 7 (25:20):
In my little town, which Dan is very familiar with,
we have the majority of seniors about sixteen thousand, seven
hundred taxpayers, and I see many of them, and some
of them are doing extremely well because they are well off,
(25:45):
and others are just barely squeaking by and are really scared.
So how do you see seniors on fixed incomes maneuvering thing?
Speaker 1 (26:02):
Yeah, that's very difficult, great question, that's a very good question. Actually,
that was what we have been talking about for now
almost two hours. Is the one negative of tariffs is
their causing inflation. And inflation is the absolute scariest thing
(26:23):
if you're on a fixed income, because your cost of
living adjustment, if you're getting attention, is not going to
keep up, even if you are depending on your investment returns.
This year you have been lucky to make six percent,
and that's before you have to pay any taxes. I
think that is what keeps me up at night about
these tariffs over the long term is what's going to
(26:44):
happen with inflation, And again attempting to remain nonpartisan, if
Chairman Powell lowers interest rates or his success or lowers
interest rates, that could further stoke the embers of inflation
and cause a bad situation get any worse.
Speaker 3 (27:02):
Well, I guess the argument against that, the Trump argument
would be, I believe is that if interest rates were lowered,
there'd be a lot more a lot more people who
could get involved in the housing market because right now
housing prices for young people, particularly people starting out, are
(27:24):
very high. How do you balance those interests? Professor Staller
and I think so.
Speaker 1 (27:31):
Interestingly enough, there is a new term that has been
bantered about called revenge saving, where millennials and gen zs
are making a point to reduce non to reduce discretionary purchases,
to put money towards the house support toward four to
one k. I think, on the face of it, that
(27:52):
makes a lot of sense. But you can't just save
if you're trying to buy a one million dollar house
two hundred and fifty thousand dollars or a twenty five
percent payment between now and next Tuesday. It's going to
take time, but I think that it can only help
over the long term to have lower interest rates. But
as you've been saying all evening, Dan, this is a
(28:13):
three legged stool in the sense that you know, you
make the adjustments on one leg, and it's not like
the stool is going to be perfectly fixed. You're going
to have to catch up on you know, legs two
or three of that stool. It's just not obvious. But
I will tell you, Terry, that fixed income is really scary.
I know a lot of people who are seniors. I
volunteer for a Massachusetts healthcare nonprofit and we talk about
(28:37):
this on a regular basis. It's really really scary stuff.
Speaker 7 (28:41):
Yes, And the thing is people like elder services, everybody's
not getting any help because everybody lost always their donators
for people to look.
Speaker 3 (29:02):
Terry, are you want social security? Is that your primary
source of income?
Speaker 7 (29:07):
Absolutely?
Speaker 3 (29:08):
Okay, Yeah. Now, the good thing about social Security is
that there is a cost of living adjustment that comes
to or one of the good things about social Security
is there is a cola people who are on pensions
that generally is no at least from my experience, there's
(29:29):
no cost of living increase on a pension.
Speaker 7 (29:33):
And some people Dan, unfortunately, have outlived their pensions. Yeah, yeah,
social Security and everybody's like, oh my god, what am
I going to do now?
Speaker 1 (29:48):
And that's what Dan was talking about in the first hour,
is that the blessing and the curse of the US
healthcare system is that we're living longer. And when you
live longer, it's not like your costs go down, especially
if you need more healthcare, et cetera. It is it
is something that I think politicians and economists are giving
(30:09):
a lot more thought to in in my opinion, in
the past five or ten years, because people's life expectancy
is going up, which is obviously terrific, but you know
that doesn't come cost free.
Speaker 7 (30:21):
Exactly. I just wonder if maybe you had a new
bit of wisdom to pass on to folks. And I
appreciate your time, professor, thank you.
Speaker 1 (30:37):
For its call. Terry. I appreciate your perspective and thank
you for uh, you know, making the Harwich sports community
so special.
Speaker 3 (30:44):
All Right, thanks Terry, talk to you soon.
Speaker 7 (30:46):
Bye bye bye Dan, Bye bye Derry.
Speaker 3 (30:49):
All right, we have just about fifteen minutes left here
and I have some open lines if you'd like six
one seven, two, five, four, ten thirty, six, one seven,
nine thirty. My guest is Professor Gregory Stoller of Boston University,
the Questrum School of Business. Uh he has he's a
young man, but he has been a business school professor
(31:12):
at Boston College and at Boston University for a long
time both schools, and even more importantly, he has led
for forty years student on student trips to Asia. And
I have questions about that, but I love to again.
I don't want to deprive any caller who wants to
(31:34):
call in and ask a question. Mekea comments six one seven,
two four to ten thirty six one seven, nine three,
ten thirty be backed with Professor greg Staller. Feel free
join the conversation. I've I've loved the hour and forty
five minutes to have spent, and I hope the next
fifteen minutes will top it off very very effectively. As
(31:56):
we've learned a lot about again about tariffs and how
they will affect different people differently, and how they will
have a big impact. The one thing we haven't talked
about is the arrival. The additional issue of artificial intelligence
and how that will affect us not only here but
(32:18):
in other countries around the world. Back on night Side.
Speaker 1 (32:21):
Right after this, it's Night Side with Boston's news Radio.
Speaker 3 (32:29):
Back to the phones, we go with Professor Greg Staller
of Boston University quest from School of Business. Who're talking
about tarifs and about the economy affects everyone. Eric is
in Boston. Eric, appreciate your calling in. You're next on
Nice Side with Professor Staller.
Speaker 1 (32:44):
Go right ahead, So Ron, thanks so much.
Speaker 9 (32:48):
Stand is a great show.
Speaker 3 (32:49):
Thank you.
Speaker 9 (32:50):
First question for you is what is the impact of
AI on business?
Speaker 3 (32:54):
Wow, that's a that's a pretty broad question and I'm
going to leave that one to Professor Stallar it is.
Speaker 1 (33:03):
It's a good question, Eric. I think that I would
answer that by saying that, once again, like tariffs, I
don't think this is something that's going to be resolved
in a year or two. I think that AI is
certainly going to make international business a lot easier. I
think it's going to make it a lot faster. I'm
(33:23):
not so sure that I ube that it's going to
cost you know, thirty percent of the workforce to lose
their jobs within six to eight months. I think it's gradual,
and I think that as people get more fluent with AI.
I think as people get more comfortable with it, a
lot of the stigma is going to go away. And
I think people are simply going to be more productive.
(33:45):
And I think that is very much part and parcel
to what's happening with the tariffs.
Speaker 7 (33:51):
Now.
Speaker 9 (33:51):
The mindset in today's world is that AI has the
great potential have taken away jobs or taken away valuable
people who operate those jobs. Do you think that long term,
once AI develops a more rigorous and primary use of operations,
that will open the door for more jobs or do
(34:13):
you think it still has our people thinking of job
long term?
Speaker 1 (34:19):
Good collar Dan, Yeah, Eric, I think it's a really
good follow up. I think that if you tend to
educate yourself and you become more fluent about AI, I
think that you can start developing the prompts and know
how to use AI effectively, and you can become more productive.
If you're going to say, oh, this is a problem,
(34:41):
I'm potentially going to lose my job, then that is
the people who are going to be at the whim
of the computer.
Speaker 3 (34:53):
The other thing change to remember is that that, you know,
everything seems to be moving so fast. I mean, if
you want to talk about cell phones, you know, in
terms of what they do today compared to when when
there was sort of like I don't remember in the
(35:16):
nineteen eighties, they were portable phones that people had. We
had portable phones in television, but they were bulky. All
they were was just portable phones. That looks like the
dark ages. So is there something coming along that's going
to eclipse AI. I wouldn't take a guess at that,
Professor Staller. I assume that what we don't we don't
(35:41):
know what we don't know, that's correct.
Speaker 1 (35:44):
I think that, like tariffs, it's something that is easy
to talk about. I think it attracts eyeballs to websites.
I think it gets people to read newspapers. I'm not
so sure that it's going to be an immediate impact,
and I certainly would not put that right now on
the same level of tariffs. I think tariffs are going
to have a much more immediate impact on the economy,
(36:07):
either good or bad, than AI is going to be
over the long term.
Speaker 3 (36:10):
All right, Eric, appreciate you call great questions. Thank you
so much.
Speaker 9 (36:15):
Thank you good night.
Speaker 3 (36:16):
Let me go to Vinnie in Brighton. Vinnie, you're gonna
wrap the hour for us, Go right ahead, Vinnie.
Speaker 10 (36:22):
Hey, thank you so much. Dan, it's nice to be
on your show. How are you doing tonight?
Speaker 3 (36:26):
I'm doing just great. It's been a different type show.
I so appreciate that Professor Staller would not only give
us an hour of his time, but two hours of
his time. It's we're very lucky. You go right ahead.
You got the final compentent question for Professor Greg Staller
of the question School of Business, Very Mustage University.
Speaker 10 (36:46):
Understood. I'm not sure if this professor has any competencies
in AI, as I'm just now tuning in, so forgive
my ignorance, but go ahead.
Speaker 9 (36:57):
Thank you.
Speaker 10 (36:58):
My curiosities as to or your all's perception of AI
coming to subsume more jobs than new jobs it puts forth.
I am a PhD student in computer science. I leverage
AI in my research. In fact, I'm working on my
(37:21):
own take of a model, my own architecture of AI,
and I love it. I mean, by all means, I'm
stimulated to work on this. But my fear at a
societal level is that we're already experiencing difficulties in the
job market when it comes to recent grads in tech
fields because entry level positions are oftentimes easily subsumable by
(37:48):
persons at higher levels in that industry who have some
AI competencies. I want to know if you share this
concern that AI will be causing a social problem by
making let's let's.
Speaker 3 (38:04):
Get a quick let's get a quick response from him
on that. You phrased the question really well, Vini appreciated it.
Go right ahead.
Speaker 1 (38:10):
I know, again this isn't my expertise, but I don't
necessarily buy that it's going to be a sort of
nuclear type option that everybody's going to lose their job.
I will remind you, Vinnie, that in the late eighties
and early nineties, as personal computers started to get popular,
you know, the TRSA Model three, a lot of people
were saying, oh my god, computers are going to cost
(38:33):
me my job, and oh my god, what's going to
happen if computers replace manual if manual data entry or
stuff of that ilk you know, the economy survived, you know,
employment survived. And I would argue that because of computers,
jobs have been created in the past five or ten
years that never existed twenty or thirty years ago. I
(38:56):
think the same is true of AI. Yes, I do
think there's going to be some collateral damage, but I
think on net, it's going to be better for the
economy and better for employment over the long term when
people like you are getting their PhDs a data science
and you're gonna be able to run these computers as
opposed to getting run by them.
Speaker 3 (39:15):
All right, Vinnie, at that point we got to wrap
it up. I apologize, but we've run out of time.
Thanks Vinnie. I'm glad you got it. Was a great
timely question to end the hour. There were a couple
of callers in the line who were too late. Professor
Greg Staller of Boston University questionrom School of Business two hours.
I thank you very much, as like pitching a doubleheader.
Speaker 1 (39:36):
Thanks Professor, Thanks, Thanks Jeb for everything.
Speaker 3 (39:38):
Dan Top soon, not soon, Absolutely, we're done for the night.
I'll be on night side with Dan Ray on Facebook
at about five three or three or four minutes. I'll end,
as always on Dogs on Cats, All pets go to Heaven.
That's where Mike Pal Charlie Ray is, who passed fifteen
years ago in February. That's where all your pets are
who have passed. They love you and you love them,
and I do believe you'll see them again. Hope to
(40:00):
see again tomorrow night on nightside. Have a great Wednesday, everyone,
stay safe, stay well, and thank you for calling, Thank
you for listening. My name's Dan Ray.
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