>>> WHETHER YOU LIKE IT OR NOT
WE ARE FACING AN ELECTION NEXT
YEAR AND AS YOU PROBABLY KNOW,
THE ECONOMY AND HOW PEOPLE ARE
DOING IS ONE OF THOSE BIG
ISSUES, SEPARATE FROM WHAT
WE'VE BEEN TALKING ABOUT
INCLUDING AUTHORITARIANISM AND
CRUISE, THERE'S THE QUESTION OF
HOW YOUR JOB LIFE IS GOING,
WHETHER IT'S EASY TO GET
ANOTHER ONE.
DO YOU FEEL STRESS, THESE ARE
ALL STANDARD CAMPAIGN THINGS,
AND IF YOU LOOK AT TRUMP AS FAR
BACK AS 2019, ONE OF HIS BIG
THAT'S HAS BEEN THAT THE
INCUMBENT PRESIDENT WAS, PEOPLE
TRUST THE REPUBLICANS MORE TO
KEEP TAXES LOW AND HE WOULD DO
A DOOMSDAY ABOUT HOW IF BIDEN
GOT IN CHARGE, IT WOULD BE BAD
FOR THE ECONOMY.
A PREDICTION THAT HAS PROVED TO
BE WRONG.
>> IF YOU SELECTED THE STOCK
MARKET WILL CRASH. >> THAT MARKS A RECORD HIGH FOR
>> THAT MARKS A RECORD HIGH FOR
THE DOW JONES AVERAGE.
IT WILL CLOSE ABOVE 37,000 FOR
THE FIRST TIME EVER.
>> THERE IT IS, NOT EXACTLY A
STOCK MARKET CRASH, THE MARKETS
CHANGE, THEY GO BACK AND FORTH
BUT WE CAN TELL YOU THE DOW IS
HITTING RECORD HIGHS THIS WEEK
AND WENT UP AGAIN TODAY.
PART OF THE REASON IS THAT
INFLATION IS SLOWING, THAT'S
MACRO ECONOMIC, NO ONE POLITICIAN CAN TAKE CREDIT BUT
POLITICIAN CAN TAKE CREDIT BUT
IT'S CERTAINLY GOOD NEWS.
MEANWHILE, THERE'S BEEN A JOBS
SEARCH, UNEMPLOYMENT FALLING
BELOW 4% TO NEAR HISTORIC LOWS.
THAT'S GREAT NEWS FOR ANY
INCUMBENT PRESIDENT AND THE
INCUMBENT HAPPENS TO BE BIDEN
RIGHT NOW. THE U.S. HAS ADDED 14 MILLION
THE U.S. HAS ADDED 14 MILLION
JOBS.
REMEMBER, NOTHING ABOUT THIS IS
AUTOMATIC BECAUSE A LOT OF
PEOPLE AND ECONOMISTS HAVE BEEN
PREDICTING THAT THIS YEAR RIGHT
NOW I WOULD BE ON THE NEWS
TALKING TO YOU ABOUT A
RECESSION.
>> I'M SUGGESTING THAT THERE'S
A VERY HIGH RISK, 65% OR BETTER OF A RECESSION NEXT YEAR.
OF A RECESSION NEXT YEAR.
>> LIKELY HEADED TO A RECESSION
TOWARDS THE END OF THIS YEAR.
>> ECONOMISTS ARE NOW SAYING
THE U.S. WILL ENTER A RECESSION
WITHIN THE NEXT YEAR.
>> THERE IS AN EXTREMELY
ELEVATED CHANCE OF A RECESSION
AND IF YOU HAD TO PLACE YOUR
MONEY, I WOULD BET IT BE WITHIN 12 MONTHS THAT THE ECONOMY
12 MONTHS THAT THE ECONOMY
WOULD BE ANY DOWNTURN.
>> NOW, WE HAVEN'T SEEN THE
RECESSION YET AND I'M NOT HERE
TRYING TO TELL YOU WHAT WILL
HAPPEN TOMORROW BUT THE
PENDANTS DID AND IT DIDN'T TEAR
OUT YET BUT WE CAN'T REALLY
LOOK IN ANY CRYSTAL BALL AND KNOW WHAT WILL HAPPEN.
KNOW WHAT WILL HAPPEN.
ON THE POLITICAL SIDE WE KNOW
THE FEAR OR THE TALK OF
NEGATIVE FINANCIAL AND ECONOMIC
INFORMATION MAKES PEOPLE
NERVOUS, AND SOME OF THOSE
PEOPLE WERE JUST GIVING THEIR
EXPERTISE BUT ON THE RIGHT
LEASING AN EFFORT TO FAN THE
FLAMES, TO TRY TO OVERRIDE THE
GOOD NEWS THAT THE TITAN WHITE
HOUSE IS TOUTING.
THE TIME SAID IT'S TOO SOON TO
DECLARE VICTORY BUT THE OUTLOOK
IS SUNNIER THAN IT LOOKS A YEAR
AGO.
SO THAT'S WHAT'S GOING ON OUT
THERE.
WE LIKE TO BEGIN WITH THE
EVIDENCE AND FACTS, THAT'S WHAT'S BEEN HAPPENING.
WHAT'S BEEN HAPPENING.
IS THE ECONOMY STRONG AND IN
THE POLITICAL DOMAIN WE HEAR A
LOT OF THINGS.
INDEED, I'M NOT JUST HANGING
THIS ON THE BELTWAY WHICH HAS
ALL OF ITS SHORTCOMINGS, YOU
CAN ALSO SEE A DEBATE RAGING
AMONG GENERAL AMERICANS AROUND
THE COUNTRY DEPENDING ON WHERE
YOU LIVE, THE ECONOMY MAY NOT
BE GOOD YET OR THE BIDEN
BEATING INFLATION NARRATIVE
DOESN'T NEED THAT YOUR LIFE AND
THE FOOD ON YOUR TABLE IS GOOD
ENOUGH, SO IF YOU CHECK ONE OF
THE THINGS THAT PEOPLE USE MOST
TO TALK TODAY, TIKTOK, HERE IS
WHAT YOU HEAR. >> I KNOW YOU ARE NOT TRIPPING,
>> I KNOW YOU ARE NOT TRIPPING,
YOU'RE ASKING WHY DO I WANT
BIDEN AS PRESIDENT AGAIN, JOBS
CREATED, 13.2 MILLION,
UNEMPLOYMENT, DOWN TO 3.5.
>> SOME CHANGE?
>> SURE.
>> YOU DIDN'T PUT ANYTHING IN
THERE.
I PUT HOPE IN THERE.
>> BIDEN'S ECONOMIC POLICIES
HAVE BEEN A DISASTER FOR OUR
COUNTRY.
>> RIDING ON IT JUST WORKS, THE
NOVEMBER JOBS REPORT CAME OUT
AND UNDER PRESIDENT BIDEN'S
LEADERSHIP SAW A GAIN OF 199,000 JOBS.
199,000 JOBS.
>> SO, THOSE ARE ACTUALLY REAL
PEOPLE, HAVING THE DEBATE.
AND IT GOES TO SOMETHING THAT
WE ARE SEEING OUT HERE WHICH IS
A WIDER GAP PERHAPS UNUSUAL,
THE AP SAID THAT THE ECONOMY IS
GETTING STRONGER BUT VOTERS
FEEL, QUOTE, HORRIBLE ABOUT IT,
AND MANY AMERICANS WOULD EVEN
SAY THEIR PERSONAL FINANCES ARE
DECENT BUT WHEN THEY'RE ASKED
ABOUT THE BROADER ECONOMY THEY
STILL SAY IT'S BAD.
OUR COLLEAGUE HERE AT MSNBC
CHRIS HAYES WAS REPORTING ON
THE SAME ISSUE HERE.
THIS GAP BETWEEN WHAT WE CAN
UNDERSTAND WITH ECONOMIC DATA,
EVEN WITH THE CAVEATS THAT IT'S
COMPLEX AND HOW EVERYONE IS
FEELING.
>> YOU CAN SEE ON THE CHART,
THE BLUE LINE, HOW YOU WOULD
EXPECT PEOPLE TO FEEL ABOUT
ECONOMIC NUMBERS AND THE
REDLINE, HOW THEY ACTUALLY
FEEL, HAVE USUALLY BEEN INSYNC.
WHEN THINGS GET WORSE PEOPLE
FEEL WORSE.
RIGHT NOW THERE'S A HUGE BETWEEN THEM.
BETWEEN THEM.
THAT GOLF DOES NOT EXIST IN
SIMILAR WEALTHY COUNTRIES LIKE
FRANCE OR GERMANY AND THE UK.
IT'S ONLY HERE.
EVEN THOUGH WE ARE DOING BETTER
THAN THOSE PLACES.
>> CHRIS IS MAKING A VERY FAIR
POINT WITH THE DATA AND THE GAP
AND AS OUR FRIEND MARVIN GAYE
SAID, WHAT'S GOING ON?
WELL, I'M SORRY THE STORY ENDS
THIS WAY BUT WE ARE JUST
CHARTING THIS OUT.
IF IT'S NOT HAPPENING IN OTHER
PLACES THAT DON'T HAVE WELL
THIS KIND OF RIGHT WING ECHO
CHAMBER, THAT COULD BE A BIG
FACTOR, WHICH IS, FACING WHAT I
SHOWED YOU THAT TRUMP'S
PREDICTIONS DIDN'T COME TRUE
AND INFLATION TO DROP AND THE
WALL STREET RALLY IS HAPPENING
THIS WEEK EXCEEDS ME, SO
DRAMATIC, I'M LOSING MY VOICE,
AMIDST ALL OF THAT, YOU CAN
DEAL WITH THAT SO YOU MIGHT
HAVE TO JUST LIE ABOUT IT OR
SPIN IT OR HAVE A RELENTLESS
CONSERVATIVE ONSLAUGHT
SUGGESTING THERE SOMETHING
WRONG WITH "BIDENOMICS".
>> BETWEEN HIS ENDLESS RECKLESS
SPENDING AND SOARING INFLATION,
"BIDENOMICS" IS CRIPPLING OUR
ECONOMY.
>> WE'VE JUST SEEN DISASTROUS
RESULTS.
>> WHEN IT COMES TO ECONOMICS,
PRESIDENT BIDEN IS LIKE A HOG
ON ICE.
>> THEIR AGENDA, CAN BE SUMMED
UP IN THE ACRONYM, SPD,
SCARCITY, POVERTY AND
DEPRAVITY. >> INFLATION LOVES PRESENT
>> INFLATION LOVES PRESENT
BIDEN LIKE THE DEVIL LOVE SIN.
>> OKAY.
WHAT'S GOING ON THERE, THOSE
ARE CLIPS AND IF YOU KEEP YOUR
SANITY, THEY MIGHT BE LAUGHABLE