Single Best Idea with Tom Keene: Bob Hormats & Meredith Whitney

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Bob Hormats & Meredith Whitney.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news. The single best idea
to be quick here as we have huge newsflow in
including the war of Israel and Iran. Robert Harmatz with

(00:23):
US Today, Ambassador Harmatz with his public service in the
State Department under Hillary Clinton. Robert Hormatz on the diplomacy
of Iran, the history of Iran back to the Shah,
and the distinction he made was they really don't want
to take advice from.

Speaker 2 (00:43):
The West at the moment. The Iranian people are, but
they do not want foreigners to be the ones to
do it. There's a history in Iran of foreigners intervening
with respect to say to most of that they still
remember that the United States was involved in the overthrow
of Mosedek and bringing back the Shaw, the new Shaw

(01:05):
or the old Shaw now and they do not like
the idea of foreign interventions. So they are very proud people.
As you pointed out, there an old three thousand plus
year old empire and regime change induced by.

Speaker 1 (01:20):
We have no template here.

Speaker 2 (01:21):
We do you have no temp We have no template,
We have no ability to change the regime and the
resin and the Uranians would resist that if his real
did it or the United States did it. They don't
want foreigners to intervene. If they do it themselves, it's
a very different metic. If we do it, it's a
very different matter, and a negative one.

Speaker 1 (01:38):
Robert Harmer's there before, Lisa Bramwoods and Dannyberger's conversation with
the son of the former Shaw joining us today in studio.
Wonderful to see Meredith Whitney. She's back out and far
more visible than in recent years. The Meredith Whitney and
the images of the debate, the back and forth is
grounded in must read research reports. She did an absolute

(02:03):
tuurtive force on the retirement health crisis of older Americans.
Meredith Whitney on the boomers.

Speaker 3 (02:12):
Well as You and many other shows and written talk
about they talk about the boomers being so wealthy, and
that's just not true in terms of there's a segment
of the boomers that's incredibly wealthy, but only one in
ten boomers seniors can afford assisted living okay, so, and
they're taking on debt at a more rapid rate than
any other age cohort. So seniors own twenty five percent

(02:36):
of total consumer debt outstanding. That's that's counterintuitive. Because you
think as you get older, you get more conservative, you
have less debt. So twenty five percent compares to twelve
percent in two thousand. So it's if the economy was
so great, why would why would seniors be taking on debt.
One thing that seniors have is they're sitting on a

(02:57):
tremendous amount of equity and they're starting to tap into that.
So seniors have at least fourteen trillion of tappable equity
that they can access that could make them be able
to stay in their homes longer, agent plays, maybe get
private home care, home healthcare, and they're doing it. So
forty four percent of home equity outstanding is held by seniors.

Speaker 1 (03:21):
Meredith Whitney offer brilliant written, researched, great chart on mortgage
holdings of America where we're literlely back to the eighties
and how conservative we are in paying off our housing.
Just a superb effort there. She had some single best
idea stocks as a rocket mortgage came up a couple times,
but to be honest, I don't know if that's a buy,

(03:44):
a hold or a sell. We're on on YouTube. I
can't say enough about the building of Bloomberg podcast. Its
way out front of anything I thought, what ever happen?
This podcast on Apple, on Spotify and a YouTube podcasts.
This is single first idea