February 10, 2025 • 6 mins
Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.
In this episode, we feature conversations with Michael Purves & Robert D. Kaplan.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF
See omnystudio.com/listener for privacy information.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:14):
Single best idea? What's the purpose here? The purpose here
is you have won two three fifteen twenty minute podcasts
that you listen to every day. So I said, does
the world need another twenty minute podcast to listen to
every day? I don't think so, because everybody's glued to
Odd Lots, Tracy Loay and Joe Wisenthaler, David Gurr's wonderful
(00:37):
work with a big take. So what do you need?
How about a single best idea? Which two ideas? And
if it's three minutes or four minutes or five minutes, great,
that's what we do. We're building it out. You know.
Trying to figure out who to put on today was easy.
What a wonderful Monday. It was after the Super Bowl,
way too much football talk. Michael Purvis was with us.
(00:59):
The highlight was talking about Llban and his wonderful three
months he spends in New Hampshire. It's like I'm Golden
Pond with Henry Fonda years ago and Captain Hepburn. Michael
Purvis was in our studios here in the dead of winter,
and he talked about the spirit that's out there, not
real GDP, but GDP plus the inflation component or current
(01:23):
or nominal GDP.
Speaker 3 (01:25):
Just to put politics to the cipher A second, I
would say, regard if Harris was president of Preparess, I
think we have been in the midst of a nominal
GDP shift that's going higher. There's a lot of structural reasons,
really nothing to do with COVID or anything like that.
These are just structural trends that have been that have
been occurring slowly and steadily. And I think I've been
very constructive on the economy. I wasn't a hard landing
(01:48):
guy a year ago, and I'm not a softer hard
landing effect here. I think what's happening here is we're
really normalizing to something other than twenty nineteen, twenty eighteen,
twenty seventeen. I think we're normally back to some other things.
And there's a lot of structural forces that are going
to keep inflation from getting to the FEDCE target. But
also they'll be growth supportive too.
Speaker 2 (02:08):
Can't say enough about this. The great miss call that
I've observed on Bloomberg surveillance is not understanding growth supportive.
That's what we've had quarter after quarter, even this weekend,
I said to myself, what if his growth continues, what
if we continue with four and a half four point
(02:29):
eight percent five percent plus nominal GDP. I'm not predicting that.
I don't have a clue what's going to happen. But
it's been the great miss call the growthiness out there
from COVID stimulus and on to perhaps a new productivity.
Michael Purvis of tallbacking, it's always a surprise to come in.
I really never look at the schedule. When I come in,
(02:51):
I sort of like the shock of, oh, this is
who we've got today. Linda Dissel was on from Federator
a mess, absolutely spectacular on the need to be in
the market even if you're scared. Staff, We thank her
Eagles fan. She celebrated Eric belchun Is emailed in getting
ready for the Philadelphia Parade down in his Philadelphia. But
the real honor today was to have Robert T. Kaplin
(03:13):
with us. My book of the year last year is
The Loom of Time. It is spectacular. It's a walk
through Morocco east to Persia. Just a wonderful, wonderful book
across the Mediterranean, through the Levant to Iran. He made
very clear. Iran is a key point in his look
right now. His new book out is waste Land, and
(03:36):
we talked to him about something that's come up a
number of times, the destruction of the American middle.
Speaker 4 (03:43):
One of the problems with America in terms of American
power and America's trajectory is that it is is that
the center is gone. Rather than a center right and
the center left governing the country where elect presidential elections
were not existential, you now have a progressive left and
(04:06):
a populist right. Neither seems to talk to the other.
I think after Trump, what you're likely to get is
another populist right regime, or go back to the progressive left.
The real story in American politics is the destruction of
(04:27):
the center, the destruction of the political center, which is
partly the result of the end of the print and
typewriter age and the beginning of the digital video era,
where news is not in the middle nuanced. It's all
(04:48):
about passion and anxiety and short bursts of simplicity through
social media.
Speaker 2 (04:56):
Robert Kaplan there out in social and Twitter and LinkedIn.
In the coming day, in celebration of his new book, Wasteland,
I'll feature the loom of time waste Landing. He has
a wonderful book on tyranny, sort of buried from a
couple of years ago. It's a monograph of one hundred
and ten pages of show feature that on tragedy as well.
(05:17):
Robert D. Kappan an acclaimed author, And thank you so
much to Michael Purvis and others today on your commute
across the nation in Kansas City, in Philadelphia, we're on
Apple car Play, Android Auto, and Sirius, and of course
on the Eastern Shore in the Corrider ninety nine one FM,
Bloomberg eleven three AM and ninety two nine from Aunt
(05:38):
Cataden down to Block Island. We're on YouTube. Subscribe to
Bloomberg podcasts and on YouTube podcasts. It's single best idea.
(06:00):
N H were including d
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:14):
Single best idea? What's the purpose here? The purpose here
is you have won two three fifteen twenty minute podcasts
that you listen to every day. So I said, does
the world need another twenty minute podcast to listen to
every day? I don't think so, because everybody's glued to
Odd Lots, Tracy Loay and Joe Wisenthaler, David Gurr's wonderful
(00:37):
work with a big take. So what do you need?
How about a single best idea? Which two ideas? And
if it's three minutes or four minutes or five minutes, great,
that's what we do. We're building it out. You know.
Trying to figure out who to put on today was easy.
What a wonderful Monday. It was after the Super Bowl,
way too much football talk. Michael Purvis was with us.
(00:59):
The highlight was talking about Llban and his wonderful three
months he spends in New Hampshire. It's like I'm Golden
Pond with Henry Fonda years ago and Captain Hepburn. Michael
Purvis was in our studios here in the dead of winter,
and he talked about the spirit that's out there, not
real GDP, but GDP plus the inflation component or current
(01:23):
or nominal GDP.
Speaker 3 (01:25):
Just to put politics to the cipher A second, I
would say, regard if Harris was president of Preparess, I
think we have been in the midst of a nominal
GDP shift that's going higher. There's a lot of structural reasons,
really nothing to do with COVID or anything like that.
These are just structural trends that have been that have
been occurring slowly and steadily. And I think I've been
very constructive on the economy. I wasn't a hard landing
(01:48):
guy a year ago, and I'm not a softer hard
landing effect here. I think what's happening here is we're
really normalizing to something other than twenty nineteen, twenty eighteen,
twenty seventeen. I think we're normally back to some other things.
And there's a lot of structural forces that are going
to keep inflation from getting to the FEDCE target. But
also they'll be growth supportive too.
Speaker 2 (02:08):
Can't say enough about this. The great miss call that
I've observed on Bloomberg surveillance is not understanding growth supportive.
That's what we've had quarter after quarter, even this weekend,
I said to myself, what if his growth continues, what
if we continue with four and a half four point
(02:29):
eight percent five percent plus nominal GDP. I'm not predicting that.
I don't have a clue what's going to happen. But
it's been the great miss call the growthiness out there
from COVID stimulus and on to perhaps a new productivity.
Michael Purvis of tallbacking, it's always a surprise to come in.
I really never look at the schedule. When I come in,
(02:51):
I sort of like the shock of, oh, this is
who we've got today. Linda Dissel was on from Federator
a mess, absolutely spectacular on the need to be in
the market even if you're scared. Staff, We thank her
Eagles fan. She celebrated Eric belchun Is emailed in getting
ready for the Philadelphia Parade down in his Philadelphia. But
the real honor today was to have Robert T. Kaplin
(03:13):
with us. My book of the year last year is
The Loom of Time. It is spectacular. It's a walk
through Morocco east to Persia. Just a wonderful, wonderful book
across the Mediterranean, through the Levant to Iran. He made
very clear. Iran is a key point in his look
right now. His new book out is waste Land, and
(03:36):
we talked to him about something that's come up a
number of times, the destruction of the American middle.
Speaker 4 (03:43):
One of the problems with America in terms of American
power and America's trajectory is that it is is that
the center is gone. Rather than a center right and
the center left governing the country where elect presidential elections
were not existential, you now have a progressive left and
(04:06):
a populist right. Neither seems to talk to the other.
I think after Trump, what you're likely to get is
another populist right regime, or go back to the progressive left.
The real story in American politics is the destruction of
(04:27):
the center, the destruction of the political center, which is
partly the result of the end of the print and
typewriter age and the beginning of the digital video era,
where news is not in the middle nuanced. It's all
(04:48):
about passion and anxiety and short bursts of simplicity through
social media.
Speaker 2 (04:56):
Robert Kaplan there out in social and Twitter and LinkedIn.
In the coming day, in celebration of his new book, Wasteland,
I'll feature the loom of time waste Landing. He has
a wonderful book on tyranny, sort of buried from a
couple of years ago. It's a monograph of one hundred
and ten pages of show feature that on tragedy as well.
(05:17):
Robert D. Kappan an acclaimed author, And thank you so
much to Michael Purvis and others today on your commute
across the nation in Kansas City, in Philadelphia, we're on
Apple car Play, Android Auto, and Sirius, and of course
on the Eastern Shore in the Corrider ninety nine one FM,
Bloomberg eleven three AM and ninety two nine from Aunt
(05:38):
Cataden down to Block Island. We're on YouTube. Subscribe to
Bloomberg podcasts and on YouTube podcasts. It's single best idea.
(06:00):
N H were including d
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