Look I've come down here, a long time, I'm used to The lies and amused the deception and I'm used to the cowardice and I'm used to the hypocrisy. But what I am not used to is the casual cruelty so all these folks here that have been working for decade or more to help veterans who are sitting dying finally had an exhale moment finally to breathe easy for a moment and that's what they pulled out from them. John stewart sounding off on Senate republicans after they blocked a bipartisan bill, aimed at expanding health benefits to veterans exposed to toxins in war zones. The question this morning is why did twenty five republicans, who supported a previous version of the bill, change their boats to know steward, who Outspoken advocate for military vaccines will join us a little. later this morning,

the following new developments from January six committee, top aids and cabinet members to former president donald trump testify. I closed doors, including one official who resigned the day after the attack, will tell you that is and more messages from the time of the attack disappear first from the secret service. Now the washington reporting text between members of trumps homeland security team, the leadership there are met. as well good morning walk into morning Joe, it is Friday July. Twenty ninth unwilling geiss with us. We ve got the host of way too early whitehouse bureau, chief at political and the author of the big lie: jonathan le mere MSNBC contributor, MIKE barnacles with us, and the presence of the cap, on foreign relations, richard house, gentlemen, good morning to your left to begin with those text messages from the leaders of former president trumps homeland security department from around the time of the capital attack that have been deleted according to the washington post, the loss messages are from both

acting homeland security secretary, Chad, wolf and acting deputies, terry ken cuccinelli, the post reporting. This quote of homeland security notify the agency's inspector general late february that wolf said cushion alleys tax were lost in a We set of their government phones when they left their jobs in january of twenty twenty one. The office of inspector general Joseph a did not press the department leadership at that time to explain why they did not preserve these records. Nor seek ways recover the lost data. That's according to the four people briefed on the watchdogs actions Gee, also failed to alert congress to the potential destruction of government records. This comes, of course, after we learned the secret service deleted tax from the day before, and the day of the sir so jotham amir. The more we hear the worst this gets is not just the secret service. It's not just a few. guys at homeland security. It's the leadership of homeland security, who can

currently much like the secret service went through some kind of you, upgrade that apparently deleted tax that maybe now lost time, nothing suspense, about this at all, will I know it is. It just adds to the growing believed that there is a cover up in government, whether secret service homeland security about what happened around january six. These text messages, of course, would provide useful, really useful information to investigators, not just the january sixth committee, but of course, the department of justice as they piece together exactly what happened that day. Exactly what the four president's response was that day was a coordination to try to any sort of law enforcement or military presence. There. We heard from the then defence secretary testimony released just this week. The tramp of course, despite his life, did not send the national guard there. In fact that was the vice president having to do so and it just it just looks bad for This government to seemingly trying to cover extract for what happened that day were jos. You worked in the government, yours,

to preserve records even on normal days, even on boring days, even on january forth and you're certain those two on january, sixth, obviously yeah government is nothing if not hostile protective of its communications When you worked at the white house, do you have any interaction with the president? In particular, you know when you remember when you, when you leave government everything you have, it gets filed, said one. You owe it to history. The short of loyal most people in government by the way are not involved in legal investigations, but this is This is the historical record, and you owe it to history. You ok your successors- but this is obviously different people or put on notice. They knew that something show in this is not an ordinary january sex said the idea that things were casually lost by recesses, preposterous, it simply doesn't pass became credulity test. You know, really it's also a kind of a metaphor for the entire administration that is

out of office now the trump administration, in the terms of the destruction of elements of government that they cared not equipped for so all the text messages are gone. There have been destroyed. Homeland security, the directive, this head of homer, security, his assistant there too. messages are gone, but richard use work in the state department and the state department was gutted substantially during the four years other departments we got it the functions of government were destroyed, so that's it apt metaphor and disturbing metaphor for what happened in the course of four years, but especially the we, january six, it is interesting to note that chad wolf actually laughed. He resigned about five days after the attack on the cap on the acting head of the of the age ass and was goal of donald trump around that time in january, right went down

trump was leaving office, leaving washington so it'd be interesting to know what was going on on his phone in those days around january six, we're going to talk to carol leonnig of the washington post, who broke this story coming up just a little bit here on morning, Joe. Meanwhile, the saudi funded live golf tours teen off its second. U s pace tournaments this morning at trump now Golf club in bed minster, new jersey, play an approach event on the course. Yesterday, former president donald trump respond to criticism from families of september eleven victims who are urging americans to protests the tournament from repressed. defended his decision to host the event by catch doubt on any connection between Saudi Arabia and the nine eleven attacks. I've known these people for a long time in saudi arabia, and they ve been friends of mine for a long time nobody's got to the bottom of nine eleven. Unfortunately, they should have as to the maniac stead did that horrible

thing to our city, to our country, to the world, so nobody's really been there, but I can tell you that there are a lot of really great people that around here today and will have a lot of fun and willing to celebrate noble got into the bottom of nine eleven says the former president of the united states. We do know, of course, that fifteen of the nineteen hijackers tamar eleventh where sadie nationals richard has just listening to that. It's what donald trump Does let me cast some doubt where it benefits me in some way? Let me plant the seeds, or at least allude to conspiracy theories of some kind, even about nine eleven. What were your thoughts? as you heard that yesterday A lot of thoughts when I heard that yesterday I will look for the nine eleven families are. I would think they would be ours. They are already unhappy about the EL. I ve golf tour playing at that bed minster for their reasons because they blame saudi arabia. Even though there is not evidence of saudi government of fish well,

This was yet we had a commission last. I remember the nine eleven commissioner Leon into this osama bin laden. We know what happened out of afghanistan. The last I check. We had a war that yeah. We removed the government of afghanistan because they were providing torreon support to these people who carried out this attack. Yes, the preponderant What what Surely national, but we know what happened with the president's trying to do is justified the fact as he's gotten into bed with this golf tour that is funded by the sovereign wealth fund of saudi arabia, so this was a self serving thing about his relationship with saudi arabia, but if I were the nine eleven families, I would not have taken the maltiness now that we know the former president were critical of anyone who supports him, and at this point you grace point out. He in the saudis. There are very, We know that september eleventh, his initial reaction was when he called into

for a radio interview was to note that his building now was the tallest in lower manhattan after the twin towers fell. We also know that he lie to that day about seeing what he claimed were a group. muslim, celebrating in new jersey for the towers falling in my particle I mean we do know what happened on September eleventh, but even if there had but any doubt he was for four years. He could have looked into it. He chose to this. Is Another example of him not caring about who we are several other families that where there are protesting that torment as long You could try to of deflect any sort of blame Jonathan to willie's question posed to richard. What were you thinking when you just heard that that clip that we just play. I thought it immediately, not for the first time we will to survive. Four years of him in the white house, we are working to be where we are today and we're not in great shaped today, thank god for Joe Biden for beating him, but this man

on the verge of perhaps again running. The presidency, the united states, but really should stop and think about this. Think about him. Think about exactly what you just said, everything is about him thing he says. Even today is about him. and how he was bennett, he's been attacked, he's been simplified, moses, five person in the history of the united states of america and we think walls around him. He is the first occupant of that oval shaped office who thought he was bigger than the office. Everybody else had this the knowledge and the self awareness that they were temporary custodians of a sacred historical name, from a democratic trust. He is the one outlier and yet

ways of victim. Even to this day, as he watches the january six committee do its work. I will come back to the story in just a bit again that golf termer the live golf term. It gets under way just a few hours at trumps. Bed minster course in new jersey back on capital. Hell Senate democrats are racing against the clock now to pass that wide, ranging spending bill through the process of reconciliation just about a week to go before congress leave for the month long recess a source says: Senate majority leader chuck Schumer called on his caucus to stick together during a closed door meeting. Yesterday, the majority leader says he plans to bring inflation reduction act of two thousand twenty two package to, the floor for a vote next week and despite the timeline democrats, are expressing some cautious optimism that its chances of moving forward. That includes president by who had this to say at the white house yesterday. I know I can be sometimes seem like nothing is done, and why should I know across any of your minds, but

the work of the government can be slow and frustrating sometimes infuriating Then the hard work of hours and days and months from people who refuse to give up pays off history is made life searches, legislation were and up to some of our biggest problems and we're taking a job step forward as a nation. My message to congress, is this this is the strongest bill you can pass to lower inflation cut today, reduce health care costs tackled I'm a crisis and primp primp promote energy security, the as we told you yesterday facing criticism already from republican senator John barrasso of wyoming called the bill quote. Thing short of an attack on the american family and a member of the senate, finance committee chuck grassland iowa had this to say,

at that time to increase taxes or spending is going to feed the fires of inflation, and this administration has a terrible economic policy setting susan columns of main meanwhile reportedly believes the bill. May compromise efforts push to gather. Support in the republican party codified, same sex, marriage, less bringing heather she's, a political strategies and board chair at that profit, civil rights, advocacy blue color of changed. She also the author the best selling book title the some of us, what racism costs everyone and how we can prosper either an she's out with new podcast series. Now by the same name, we will get to that in a moment had a good morning. It's great to see. Congratulations on the pod cast up. Let's about this reconciliation bill that surprised a lot of people. A couple of days ago, when the news broke, the chuck, humor and Joe mansion had been sort of honey together for a couple of weeks to get this done.

What's inside it that you like, and do you have any concerns that it will get through even with reconciliation it. Thank you it's great to be with you this is really something to celebrate. Were members all of the american community, the celebrate, because dealing with some of the greatest threats of our time, with inflation, we're dealing with I think healthcare costs and the fact that we can't, Right now use the government's power, and I like the power to negotiate tribal bargain on prescription broad prices, since the great for senior than people of chronic disease and most importantly, this is what the match few generations need to buy some time on global climate change. We are already seeing the worst impacts on our doorstep And if we didn't act in visit illustration with a trifecta democratic support in congress. It would be

on the party and on this generation of readers and so im glad to see your mansion. Companies Answers recognised bad. You know you, don't we flooding and wild fired and beckoned temperatures are infrastructure is not ready for cod, at change, and this is the biggest congrats act on climate that we have ever seen and it's not as we already know bill back there the american job numerical famines plan- there's a lot, that's not in there, but it's me we're going to try to go into the mid chance as democrats without anything done on these threats economy, on healthcare among climate. It wouldn't and pretty bad. on board eyes. Now, turning to senator kherson cinema, the white house fishes, I spoke yesterday, cautious optimistic I bet she will come on board, though she seems to pride herself on being an enigma and has yet to comment to this point. But heathered to your point, this is certainly good

democrats, a real boost heading into the mid terms, but it all may change how we view. To this point, the presidency of Joe by But I mean I I have always thought that, MR president, who inherited the mass as often Democrats do when they inherited the white house from republicans. Didn't extraordinary. Now, like we often talk about the fact that the EU s poverty rate alone, level on record in the first, are the vital administration I enlarge are due to be reformed and the american rescue plan. I will show I don't have any republican support- Slower child poverty is the lowest level. It's been on record now. Provided millions in american camels with disbelief on housing that will be on healthcare. The biggest cost and americans live or tackle. at the administration's efforts and then the problem

inflation, which is a problem that I think, is driven by a mix of corporate greed. Jane issues. I am what going on the macro economy globally. miss fear? Now we're going to be a way for us to finally make the wealthiest american and biggest operations that had been profit on all of americans, investments all of our workers and our people and our customers will giving anything back. nation that makes their success possible. Say you know what you're in this country too, with a minimum tax on preparations making some of the world He has traders pay more in taxes then, do now, would you got less than their their secretaries and nannies engendering partner so this is a really important. Regulation of what the democratic party stands for cool there inside there on and there really to make a proud to be part of the american community.

John, let me turn your question asks me to heather back to your new peace and political share. Byline that you say Joe Biden is bad. In the game is on the brink of turning this around. Obviously, his approval numbers are still low. His party faces big headwinds, going into the mid terms as fall, just this week, these two pieces of legislation, if the reconciliation build, does go through and then make its way through to his ass for signature, would be the landmark for him in his administration in these first two years about a year ago. Willie things started to go south for the vitamin illustration that withdraw from Afghanistan and in the delta variants surge sure through them, author gain and a bed. They struggled to rig their footing since, beyond the bipartisan infrastructure deal, which we should note, is certainly If I get a and there are still decisions on the horizon. The president has the floor What we should do about student loves the president and his teams carter immense pressure to try to expand abortion rights in the aftermath of the

roby wade overturn. Of course, we know- inflation remains high and he's got forces policy challenges as well the wireless router I spoke yesterday for this peace caution, optimistic that things are about to turn around. They feel like this could give his presence and also the party some real momentum into in before november, and also revealing some strategy to this point. One us pray, pray, pray, hands off, They let mansion and Schuman broker this deal, though, of course they were in frequent contact with structural or might barnacle, but they Another president looms if needed, if it First and cinema, or some other potential pickup arrives the eleventh hour, president Biden shortly strange and set, it can step in and act as the core or you know, Jonathan. This is something you know and you've written about it and you wrote about it in some political today. There's one job in this country, one job that is twenty four hours seven days a week- and this is the presidency of the united states of america and Joe biden- does the job sometimes too

or claim sometimes to very little notice. This is one of those situations. He knew why so I assume untold, but the mansion negotiations were going on. He knew about them all away along he knows that every day when he gets up there's gonna, be something on the desk having to do either with china or so, it happens. Eleven zero indiana there's something every single day. He doesn't get a lot of publicity for it in order to seek a lot of publicity for it. Maybe that's part of the problem. The communications in this administration, but richard the nature of the job you ve been close to the presidency. The now sure of the job, is so all consuming eventually, I thank you- must accept the hits that you every day. With regard to the economy and new sort of say, how come you didn't get credit for helping with the consumers stuff. What you'd, which he did it

The irony of the presidency. You often get credit for things that you don't deserve. You often get blamed for things. You don't deserve stuff happens on your watch, people assume rightly or wrongly, that it's your doing, but I do think all things being equal. This is probably the best stretch, for the Biden administration. You began to see some domestic political decreases also, but pretty that stretch for american politics in addition to what I think the positive message of the january systematic were actually seeing a degree shockingly enough, a bi partisanship we're seeing some legislation passed. Amazingly enough farm policy, we got guy partners and support for the policy towards russia and Ukraine, which is really impressive, a significant, I believe so for foreign policy accomplishment for this administration. So again it's it's a couple of weeks stretch whatever a couple of months, but all things vehicle. I think this has been the best phase for this president in this administration, there before we let it go and ask you about the podcast, some of us, if they be this week on spotify and nine part serious same title, Mary

in the book and you went out on the roads, you went on a road trip. I did notice. You got the endorsement of a former crescent united states, Barack Obama, who likes your podcast congrats on that, did you find when you went out on the road? I you know, I think most p, experiences the conversation out in america when you go out and actually sit and talk with people and listen to them and hear about their lives is unlike what you see on twitter, for example, or or other place. which is that but are living their lives with each other and and trying in good faith to figure it all out. now I made the sun was cast with higher ground of the terrestrial incredible team, because I shall write. You know I, after reading the book that some of us about the costs of grace them to everyone, ended it on a hopeful. No better. we come together have cross lines of great. We can act gain the power we need to take on powerful interests, and we

on the sites that unite us, and that was an idea. I had a few examples, but, as I promoted the book the number one question people ask me: was half way: attain that solidarity dividend, which is what I call it, and how can you still have hope? and so I said no, let me get back on the road again and This series is documentary serious, it's all new stuff This is only one but actually overlaps with the book and its stories appeal Well in, unlike replaces crust, cultural, political. racial and ethnic divides in order to win in their communities. On big issues. Clean air and water abortion rights saying: healthcare, the things that really really matter to american families, and it's not always leading the news, and these are hero that you don't usually here about in politics they are rolling up their sleeves linking up arms and getting stuck done for their neighbour

it's a truly hopelessly series And- and I hope everyone likes it- while people are really enjoyed the enjoy two, the first two episodes of the pod cast. The some of us are available now stream, on spotify heather, Magee, always great to have you on the show thanks, romania. This morning we appreciate it. Still I had on morning Joe I'm used to all of it. but I'm not used to the cruelty. They lived up to their oath and yesterday they spit on it In abject cruelty, the thought they could finally breathe. You think troubles and because the pact that passes All it means is, they don't have decide between their cancer drugs and their house. There stood we'll continues.

Stewart will be our gas this morning following his blistering, take down at the united states Senate after republicans, blocked passage of a providing aid to veterans who are exposed to toxins. We'll talk to John and just a bit Plus the warning and his presence she reportedly made to president Biden over speaker, nancy policies, potential trip. To taiwan type richard about that more when morning Joe comes right back the

hey everyone, I'm Tom llamas, from top story on NBC news now, every night top story is your news. Playlist. We take you to the front lines of the story where it's actually happening with NBC news journalists on the ground from all over the world. We cover what you need to know and bring your news feed to life and now top stories available as a podcast. So you can listen anytime and anywhere subscribe now for new episodes. Every weekday the their objective, and if you, let me the press of some great and you can also get a daily dose of politics news, put analysis on our new show its press now everyday. Beyond the headlines to explain what's happening in politics we got here and why man matters also talk the folks from both

it's all about the issues this country faces and how what's happening in washington impacts. All of us. You could watch meet the press now, every weekday at four pm eastern streams free on NBC news now and it's available on all streaming platforms. It's been Biden spoke with chinese presence she yesterday and call the lasted for more than two hours. Among other issues, the two discussed type. And a contentious topic, of course, that lately has strain the relationship between the two countries. According to the white house, president Biden emphasise the united states quote strongly opposes any efforts to change the status quo or undermine peace and stability across taiwan. China, however, took it up. stand in a statement released after the call the chinese minutes, said she made it clear that beijing firmly opposes quote. Interference by external forces statement also read this way: those who play fire will perish by it. It is hoped the? U s we'll be clear. Eyed about this. Meanwhile,

a key reports bind, and she also exploring and in person meeting at a date in the near future. So richard has we don't know what a lot of the details about what happened on these com. This call you ve, been in the room for these kind of high level. Meeting and phone calls before, but the question of taiwan at the centre of this and the potential for a visit by speakers its policy, obviously inflaming things a bit, Actually, if there's any inflaming going on it's coming from china side there's nothing new and our policy. We have at the time and time again the president said it. Yesterday we stand by the one china policy. We do not favor taiwan's independence. The speaker of the house has made clear she's not going to taiwan to fan independence polls taiwan show there's no big push for independence. So, let's get real here. Dumping has all sorts of economic problems. He wants, unprecedented third term, to be green lighted. This fall and the party meets you want

to attract distracting attention away from china's economy. Maybe he thinks we're we're distracted by ukraine or internal things this year, I dont know how to say: wag the dog Mandarin willie, but that's what this is about. This is a self generated for domestic political consumption crisis and I don't think again we can debate the wisdom of the speaker going she's, not the first speaker to go to china. New Gingrich went cabin and officials the time again. This is taking place within the context of exists, in so are I think this is strange, isn't much more about chinese domestic politics than it is about american foreign policy should spell it out a little internally in china. What are his specific issues? What its specific problems that he's dealing with them on an everyday basis will fortunately wants an unprecedented third term that itself, as a real change of chinese constitutional and political traditions for tradition, he's got problems with cove. It

still hasn't come up with the formula is trying to doesn't have acted for that. We're back seen that works. Why not? Because they wanted anyone else's vaccine and set their own, because the chinese nationalist pride, how could they depend on western vaccines, given the superiority corner code of the chinese system? The problem is the sign of a vaccine is not affected, so you have these locked out which are causing tremendous hardship, chinese economy. It is important for years and years and years, the chinese communist party derived its legitimacy from one thing: double doubled good economic growth at the official numbers this year are five. The real numbers are probably three or something like that: China no longer stroke, they have massive youth unemployment, they have all sorts of demographic problems. The residue of the one china policy, real environmental.

but you ve got a long list. China faces all sorts of difficulties. They ve got few steep frightened. I can talk about it. The various financial bubbles, terrible real estate investments what they do. So what what? What did they had left? So, I think they're playing the nationalist car. That's what this is about. Serious special suggest that asia meeting before tat what we in the summits of egypt, the sidelines of the g20 summit this november in indonesia, a richer there's, two, our call, obviously, but now that for translations, but still that's plenty of time to get a lot of topics, and we know one thing: the president, one to put Biden wonderful she's in paying one a little bit anyway, would be cheap. His ongoing refusal to condemn what russia is doing in ukraine as a storyline. We've really been talking about as much lately give us an update there as to what sort of soft support beijing is still providing Moscow whether buying russian oil, as are the indians by the way and others they're happy to take coal of

We can tell, though, that, even though their giving diplomatic support, what we and economic support, what we don't see is direct military sport. That seems to be the american red line and the Chinese understand that they understand that if they get caught providing direct military support, that would open them up to sanctions and the like thing china needs right now, given their economic difficulties is, is, is to make themselves vulnerable to secondary american sanctions, but they're not going to back off support. Firstly, again comes back to my expression. She paying remember they issued the no limits to communicate with russia days before russia invaded ukraine. She I'm paying cast his vote so to speak with ladder mere putin. He now can't say I made a mistake. He now can paint clearly bet wrong ass to flatter prudent about how this war would play out. The train is a little bit stuck in that relationship. All that said, I am glad that

the conversation. Yes, I am actually do hope they have a face to face meeting. These are the two most important countries in the world has, as this relationship will go, show will go in some ways: important parts of this century. We need a private strategic conversation with china about ukraine about climate change about, at global health issues. We still we still never. You know china's never opened up totally about coven nineteen nuclear weapons and we've got a long long list. This is the north korea. I could go on and on so it's important. The united states and china stop these fire republic exchanges and actually have a serious private conversation. And remains to be seen. If speaker policy will in fact go to taiwan will find out very soon, which present he said would be playing with fire still. I had this morning at least eight people are dead. After with the governor of Kentucky is calling one of the world flooding disasters in the states. History will have alive report from

Storm rammers state that gotten more rain overnight, plus a major bipartisan victory and capitol hill after the house passes a bill to bolster domestic manufacturing and to boost competitiveness with china is the united states economy in a recession or not steve right. Joins us with charts to explain next morning job Hey it's crusades this week on my podcast as is happening, we revisit one of my favorite guess. Nba legend dirk and of its. What can you do? Me was ass ours, one work hard and I was gonna, be the first one in the last one house I always wanted more lead by example.

I stand up and hold forty five minute speeches. That was just not my personality, so I think I kind of over the years found my way of how I wanted to lead the team, and hopefully the team to gama. First, nine were tar that this week, and why is this happening search for? Why is this happening wherever you're listening right now and subscribe? these days, the news never stops the morning headlines changed by afternoon and by the end of the day, it's all totally different. So, let's get into it what's happening right now, what it all means for you for an hour every day I get it. I know that it can be hard to keep up. So let's get started together and go from there. Hey I'm Ali jackson, and we have a ton going on tonight. Here's the deal jackson now weekdays at five pm eastern on NBC news. Now Chairman pal, many of the sea we advocate to like him Personnel and economists.

Say we're not in recession, just give me what the facts are in turn The stated economy number one leave a record job market can unemployment of three point: six percent. Today we created nine million new jobs so far, justice become president. businesses are invested in america record rates, doesn't sound like recession. president Biden reacting to yesterday that economic news that the united states economy shrank for this in quarter in a row, less brain, former treasury, official and Joe economic, endless, steve ratner stable morning good to see you before we dive. your charts just your assessment as someone who's lived and worked in this stuff for his entire life about what, who consecutive quarters of economic contraction means there live people using this technical definition of recession. Obviously, politicians want to use it as a blunt instrument, but is

economy in a recession or not almost certainly not willing and we'll get into this with some data in the charts. But this quarters of negative gdp thing is a common layman's definition in the real world. What happens is a non partisan. Independent institution called the national bureau of each research comes in and decides one a recession begins and when it ends, probably won't do so for a good while because it, considers all the data, not just this too are staring, but our support in point out, what's going on in the job market, let's go, consumers. What's goin on investment also of data and then at them. For all that is said and done usually months, maybe even a year later they came in and and tell us whether in a recession or not, so it's a very pickle issue, and this too This thing is just shorthand all right. So let's take a look at the charts and you begin with the: u s economy, a trip back contracting again, but you take a little closer look at what that means. Shore

so first, let's just gotten all but a history. The solid red line is the how the gdp overall has been performing for the last eighteen months and action Can see for them last year in two thousand twenty one, we had very significant growth. We actually had five point: seven percent growth as the presidency also pointed out on many occasions that isn't it actually high rate of growth obviously had to do with coming out of the pandemic, a bet You can see the red line dipped below zero and those are three quarters of negative growth and all Colored bars, are basically the different pieces of gdp. The thing above the horizontal black fine or things that attitude gdp things below are things that attracted You can see that the call overall decline was small, and so this is almost as much stuff, above the bar line as below it and it's called on. Here are some technical factors that I'm gonna spare you about inventories and foreign trade and so on, but the thing to know this

turquoise line, which is how much services consumers are buying. This is the famous airline situation, hotels, cars? Lorries? All that stuff has stayed substantially positive throughout this period they are buying fewer goods. At the moment, that's the dark blue line, a dark blue square just below the line, but that's that's fairly normal after what's going on in the pandemic, I think the important things to note are that housing has begun to decline? You had a fourteen percent decline in housing last quarter and that's too bad acted when you raise interest rates and end mortgage rates, as you know, have doubled over the several months. It has an effect on housing. The last thing I would note on this chart is their daughter, red line to the right. That the consensus projection of economists for what could happen in the next two quarters, which is so we positive gdp, I not a contraction. I do think still, I very substantial chance, probably more than fifty percent that we have.

some kind of recession at some point to get inflation under control, but it is not where we are today. So We moved here second charts day, one of the points that people like Jerome pal and janet egeland have been making is when talking about whether werner recession is, if you look at the employment pact it's just not an economy and a recession. We have eleven million open jobs twice as many jobs as people. For them. It is does. square. With the argument that this is a recession, do do you agree with them on that. and this chart shows exactly what you just said. This goes back through. Every recession from the mid nineteen. Fifty is on what the accept the pandemic, because unemployment when so much it was literally off this chart. you can see that in every recession, since nineteen fifty seven you ve material increase in unemployment, all those blue bars black bars going up is essentially the amount by which unemployment went up in percentage. why, as you can see far from the left

Look over on the right and you see our little turquoise bar, which actually shows unemployment going down over the two quarters completely contrary recession and, as you said, three point, six percent unemployment rate huge number, one jobs just last month we create three hundred and seventy two thousand new jobs point eight million new jobs this year. This is not a recession that I've ever seen, and therefore I don't really think nobody really thinks this is actually a real recession. Now last chart the other side of this. What makes it feel whether or not it's technically a recession or not like one do a lotta people is the cost of things it's just too expensive to go out and you're, seeing that in consumer confidence Look, the economy is no doubt weakening, and that is part of the plan. We have to bring down this inflation. The only way known to man and economists is too this demand, which could eventually led to some unemployment, but just get people.

spend less and inflation unfortunately has been taken. At all so the chart on the left, as this is interesting numbers it just came out in the last Here, too, we ve seen a lot of consumer confidence numbers over the months there, all pretty terrible. Quite frankly, this italy indexes, and even as bad as some of the other ones that are out there. Can see that we ve had a fairly steady decline in consumer confidence for several months. One may this chart. new and interesting, perhaps to the viewers, is on the right. This chart actually or this index is based on facts different some some industries that are all that aggregated and the things they do is break question the consumers of. How do you feel now- and this is particularly about the job market and how you think in the future you can see on the red line- is at the moment consumers for obvious reasons, feel pretty darn good about the job market. They feel that plenty of jobs out there, but when you at the blue line. They are very. pessimistic about the future and

As we all know, elections are about the future. We are facing an election, this kind of stuff is not is not great for democrats going in the election and we really obviously need to hope that jobs in a common strong, and we get some kind of a reversal of that blue line people's expectations. about the future quite negative. At the moment, Steve a couple of questions about the lived economy. What's gonna happen interest rates on car loans, credit cards and do you suppose all the workers are. on the first question, might they're gonna go up? We have to be realistic about, what's going to be required to bring down nine point, one percent inflation, we had and five basis points three quarters of a percentage point and lay terms increase this week, the market, expecting more increases before it finally tops out. Mortgage rates have gone roughly from two and three quarters percent to five

percent for thirty or more years as I that has already had an effect on the housing market. You will see other interest rates follow suit. This is economics want one higher interest rates, mean borrowed less, which we spend less its painful its, fun for anybody, but unfair the price we pay for having been a little bit too exuberant with our stimulus both the fed and from wash from the central government the course of the pandemic enduring the recovery and the question is, can we land this plain say without a recession that would be one that is not supported by history. Tissue would tell you that we're not sophisticated enough to land the playin. It would be a bit like a civilian aircraft, airplane pilot like me, trying to land on an aircraft carrier it you might get lucky, but more likely you're gonna probably have a bit of an unpleasant experience, and I think we have to prepare ourselves for that possibility. Steve I have faith in europe

adding abilities to outlets. There's going to be more legislation coming and democrats believe they can get this reconciliation package anti inflation is right in the name of them from what you know of it and what it aims to do. What sort of impact will it actually have? First listen when the mansion we're package or whatever you like to call it. I think extraordinary achievement. I think to have first all pull it. From the jaws of defeat, but to produce package that action reduces the deficit in a meaningful way for the first time in eleven years and therefore presumably have some impact positive impact on inflation as well? getting corporate taxes, partly sorted out as well as the prescription draw. All that stuff is is quite amazing, but we have to be realistic. These are all small things relative to the size of the inflation problem. There are other small things the president could do that so far. He hasn't on relative to the size of the inflation prop, but their small relative to the size of the inflation problem

we have a very significant inflation whole if you will, but every little bit of digging out is helpful and we should continue to try to dig ourselves out every I bet we can dig ourselves out by policies. like these. Take some pressure off the phone It means interest rates, don't have to go up quite as much, but I don't want to hold out false hope that you're going to suddenly see a meaningful drop in inflation simply because they pass this. conciliation will actually Explanation everything going on right. Now, all the cross currents and cities being humble. He actually was the technical coordinate, you're on top gun, maverick and wisely cut himself in the back end of that one point: two billion dollar steve ratner content I put a dime on an aircraft here any day that week great to see you see thanks. So much still, I had the unexpected reversal by republican senators on a bill to help veterans exposed to toxic fumes that had

John Stewart outside the capital and not happy, will break down what happened and speak with John stewart ahead on mornings I baseball, the new york yankees needed just one swing from them himself, Aaron judge to beat the kansas city. Royals judges, solo home, run a walk off in the bottom of the night thinning his leave, leading thirty nine of the season. His third walk off of the year, the aid withdrawals one. Do nothing only had two hits against them. One of them judges walk all over, baltimore. What might have been a memorable final played appearance and candid yards for long time. Member of the orioles tray men see me.

Nor does it say how can you may see the snakes in within inside of the park home run by redfield play from me The red sox school of outfield know actually, oh my those are just so my particle. We talk about tray men, see me perhaps leave in baltimore after a long career, their orioles plain really well this year, but who else Looking at trade deadline is coming up in a couple of days here who you think makes big moves over the contenders, need thanks. Walter Yankees the yankees need something: they'll probably make a move, not a major move.

Maybe the dodgers will end up with one soda. We ve soto is indeed moved. We have all the material all the personnel to make a deal like that or the cardinals they're in it, as well as the catcher for the chickens what comes he'll be moved almost gear into the cubs final phase. after the world series team they'll be bilbil Loans made em in trading deadline is always fun to war, to hang onto, but the last I think, he's game. We were going to hand it to you that to hear and one of them was was pretty big. We just showed an aaron judge, but yankees. The yankees. Are you know, thirty three games about five hundred living jonathan for three games about five well yeah dirty air war. Now they are, they are well positioned to lose the astros in the lcs and judge the aaron judge richard haass. Let's we were just talking about this offset first of all, we'll note that the red sox

they did when last night. I think we, both thinker, probably more likely to be sellers than buyers, come the deadline and a weak. Let's forget about them, they're only five hundred but aaron judge who is having no doubt about it: an mvp season he leads, the league in home runs he's had clutch it after clutch hit. He has carried that he bet on himself the toots he and the judge the yankees could not come to agreement about a contract extension before the season. This is the last year of his deal before. Being a free agent, his price tat going up. He also in an hour If the overall star break raised eyebrows, where he very much was asked ago or reassure your yankee fans that you'll stay and he was like you can root for me, Everytime I play with so is orange out the door What would you be willing, jars of years and money to pay him extent? Such annexes story in the rattlers conversation against inflation?

I guess that this is at least one hundred million dollars worth of extra stimulus to the: u s, economy, that our drugs is going to cost the yankees or or or somebody, and then the markets opened this, but after this season very very hard for the yankees to lose very hard, particularly essentially, they can't win If they win the series, they are he's the hero. They lose. How can you get rid of your best player after disappointing? Yet again, so I think the yankees made a hundred million dollar decision. Unfortunately, for them I want the wrong way, but good for our judge. We know the direction of Ratner chart errands judges contract simply going up, maybe better themselves, there's no way, no way the yankees led him walk, he's gonna get whatever ass, it were, and luckily the yankees have the money to give him whatever he wants. Plus Greece, like cheater great guidelines, love em, you ve read such one was not really. I noticed that buying Secondly, I for all

crawl out of the seller good for everybody up there. That's fantastic, coming out to nepal, number is out of the pennsylvania. Georgia Senate raises plus the late on the war in ukraine, russia again launches missiles at key as ukraine begins a counter offensive to break the countries hold on age or southern city, the chairman of the house armed services committee. We just turn from a trip to the region will be our guest whether it's the complex, he's of climate change. The challenge of racial injustice or the threat to american democracy. Get your daily I have enlightening articles at MSNBC, daily, written perspectives. people you know and trust. Many hoss Joyce bats and doktor computer patel, along with a groan list of experts offering their insights plus fresh takes pays brown and z. Finally, start Europe

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