
Gita Gopinath Talks Middle East Conflict
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Discussing Inflation Rates and Central Bank Targets in a Fragmented World
Exploring the necessity for central banks to reconsider inflation targets in the face of increased fragmentation and shocks, with a proposal to aim for a higher inflation rate of 2% to 3%. The chapter closes with an invitation to the Carter Economic Forum in Doha and a friendly farewell exchange.
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Speaker 2
like because they're the barista equivalent i mean doesn't it annoy you when
Speaker 1
some guy in like alabama's like man crime in new york is out of control and you're like dude shut the fuck up every time i go on rogan i have to tell him oh yeah new york is still dangerous it's always been dangerous yeah i mean it's also not that it's not like empirically it's just like not it's dangerous it's got worse for sure for them yeah fair enough right if you live in a suburb sure but any city is dangerous for anybody who lives in a suburb but that's what i'm saying like The delta is minimal. Yeah, absolutely. I totally agree. My point is just I do think there would be something. People need to stand up for America's cities because I think what's unfortunate right now is that a lot of Republicans have psyoped themselves, especially younger guys. They don't want to come move to a city anymore. And I'm like, no. The city is the greatest place that you should move to. That's where commerce, connection. That's where you're going to meet everybody. You're young. You can meet your wife whatever like that's where you can get shit done you can go out you can have a good time you want to compete and move to some later but not this is where shit happens this is where you can yeah this is where you compete that's why i moved here yeah yeah yeah no it's a uh like i want somebody to stand up and this is like almost a liberal but like i want someone to stand up for fucking America's cities. Like Chicago. I'm doing it right now. You just called me a cop. No, no. It's a good thing. I think liberals need to do it in a more credible way. Instead of being like, actually, crime statistics is like, no, bitch. Like, New York is fucking awesome.
Speaker 4
Yes, it is awesome. Here's the issue. Don't they get identified as city elites and who can't relate? Yeah, we are elite. We're elite. Why are we afraid of being elite? We think we're better. We do. And when you move here, we
Speaker 2
don't even consider you from here. We treat everybody who moved to New York like an immigrant. We go, there you go, I'm from New York. We go, well, when did you move here? And then you go, oh, seven years ago.
Speaker 4
You're from Montana. But that pisses off the rest of the country. Until they move here and they want to be from here. I would be pissed
Speaker 2
off if I live where y'all live, too. I travel the country. I know what it's like. We are elite, and it's good that we're elite. I agree. There needs to be this confidence moving again. That's what I'm saying. 100%. Get the migrants out. What? When I'm talking about migrants, I mean everybody from Maine, everybody from New Hampshire, everybody from Pennsylvania. Exactly. Get out of here.
Speaker 3
Mark is cool.
Speaker 5
Mark is cool. I'm late to go. I'm late to go.
Speaker 3
You know, the problem with the coffee party, though, is self-loathing is intrinsic to their existence. That's exactly what I'm talking about. They cannot exist without hating themselves and everything about them. Yes. So I have to hate New York City even though I live here. I have to hate America even though I live here because I hate myself.
Speaker 2
Can I ask you a question about that? Does it come from, and I'm curious about this. Does it come from actual self-hatred or does it come from a need to be liked and accepted and the feeling of if I shit on my existence, these minorities might accept me? Aren't those kind of one in the same? Doesn't one feed into the other? Again, I don't know chicken or the egg, but I don't think that they're doing it just because they hate themselves. They might hate themselves, but they desperately care about the approval. Because people who hate themselves, they just kill themselves. And it's like, you know, solid. I like that. I love that. I'm not saying you should. Suicide hotline. They shouldn't do that. I'm not saying you should do that. But if you just have this pure hatred for self. But don't you feel like sometimes there's this need of approval from these people of
Speaker 3
self-loathing yeah it is diametrically
Speaker 2
opposed to
Speaker 3
stand up for a big city yeah when you're like your whole existence appears to be shit on everything that is my existence i also think it might be education like there's this guilt that is like in
Speaker 1
ingrained in you in the college system right like america's bad you know it's like the existence of the country is bad. Like the things that we do are awful. And there's like this thing that gets embedded within you. Whereas like a working class kids or whatever built with much more patriotism, both in the home and probably just around like the way that they think about things. They're like, yeah, we do bad stuff, but it's a great place.
Speaker 3
The easiest way to deal with privilege is to apologize for it and not actually do anything. It's just to apologize. It's the main point. Yeah. Whereas people like I didn't grow up poor by any stretch, but I feel like I worked up. I started in comedy. So I don't feel like I have to apologize for this. Yes. If I my kids, God willing, I'm successful. I want it. They might feel a little bit apologetic. I didn't earn this. So, you know what? Instead of actually like going on doing community service, why don't I just apologize all the time for my existence? And I think that's a lot of times why those guys are the loudest ones in the Democratic Party and they've taken control of the narrative. Well,
Speaker 1
a lot of it is also about this need for control. That's where I think that if you were talking about how the right wasn't cool in the mid-2000s, because they were trying to tell people what to do but like the modern right has basically become a socially libertarian right yeah i mean i don't think he likes when i say this but i've for years i've been like i think dave portnoy is one of the most important political figures in the country he would love this go on no he would not i don't think he likes it because i think what i always say is like barstool republicanism is the new basically wave of conservatism in america which is you do what you want to do uh but don't fucking tell me how to speak right because i think dave would love that and i don't know i'm not sure republican and democrat well that's what i'm saying he doesn't want it to say republican but
Speaker 2
like they are a cultural influence yes yeah i think that he would really appreciate that i think you're right that guy could be it's like
Speaker 1
the thing about portnoy barstool whatever is it's about it's about saying fuck you to the man and like in the 2000s the man was george w bush in the church trying to tell us yeah people or whatever not to get married now it's uh oh you don't know bipoc you fucking racist you're not just race you're not just you can't just be not be racist you have to be anti-racist you read this stupid fucking book by this grifter abraham kendy or not all sudden nonsense right yeah America is very socially libertarian because we're not really religious anymore. And so now we're like, oh, I'm going to live my life. Like all the grill dad conservatism, there's a lot of different like words for it, but it's like, just fuck off and don't tell my kids about transgenderism or whatever at age seven. And I think that like barstool kind of, the brand exemplifies what I'm saying, which is saying, fuck you to the cultural elite well americans in
Speaker 2
general love to say fuck you of course that's who we are that's literally yeah we love and we also love and this is something i hope democrats start to understand is we love abundance you have to sell us on abundance yeah absolutely and i think that's one thing that like the democrats
Speaker 1
haven't done what they're with what oh you would love the new ezra klein stuff they have they're writing a book about abundance. Okay, so I want to talk to this guy. You should have him on. I would love to have him on. I'd love to go on his show. His co-author is named Derek Thompson. Fuck that guy. Fuck him. No, no, no. I'm joking. He's got a great podcast. No, no, no. Shout out. I'm kidding. It is a great podcast. Yeah, it's a great podcast.
Speaker 2
I'd love to go on. let's just talk about like culture because obviously things shift right if the republicans were the party of censorship and now they're the party of like libertarians it's not really a dem republican thing it's just like which party is is accessing the things that americans need or care about yes and this idea of like we're dreamers right it's like in our DNA, we are risk-taking dreamers. We need people who are talking shit and willing to take risks. We're the frontier. That's who we are. Everybody in our family, if you go back a generation, left their entire existence to just try to make it here, right? So when a Democrat is coming in, I need them to say some wild shit. I want them to say, listen, there are all these developers in New York and they're trying to put these fucking buildings up. So yeah, we're dead in that. Matter of fact, we're going to take that land over there. We're going to build 10,000 fucking units. That shit is going to be cheap. And now you can live in Manhattan for under $3,000. Even if they don't do it. Yeah. People tell me that. Yeah, absolutely. If Trump can say we're taking Greenland, you could say you're taking a little patch of land in Manhattan and building affordable housing. Say some wild shit that makes people go, whoa, whoa, that kind of sounds that sounds fire. I totally agree. And don't make it. Yeah, we're going to shoot every kid up with the fucking horn or whatever the fuck. They don't actually say that, but that is the rhetoric. But there's a tacit acceptance. It's pretty wild. There's an acceptance.
Speaker 4
Then you have politicians who just make a bunch of bold claims that they never do. Oh, welcome to America. Then we go right back to losing trust in our politicians hey you got to do some of it the trust is zero the trust is at least doing the shit that he's gonna say where's the wall like it or not he's doing it i i wouldn't say that man i i actually am not like
Speaker 1
the real that's my problem with doge is i feel like the whole Doge thing is not really how it was sold to me. What's the Democrat
Speaker 2
build the wall?
Speaker 1
There's no wall. Healthcare. But the problem is I go, okay, what about illegal immigrants? So like, and I go, is it going to cover transgender? Is it going to cover abortion? It's like low key. You almost got to stay away from healthcare because they're all
Speaker 2
in the pockets of healthcare. Give me the Democrat build the wall. If Democrats go, yo, eggs are a dollar. That's it. Don't even tell me how you're going to do it. Eggs are a dollar. We subsidize corn. We subsidize milk. We subsidize all this other shit. We're subsidizing chickens. Eggs are a dollar. And then have Republicans go, oh, well, actually. Press control. That's rid of it. And then you go, you sound gay. Eggs a dollar.
Speaker 4
Yeah, I think tax the rich. Call this man. I think tax the rich
Speaker 1
would be- See, I actually think his is better because it's tangible. Like build a wall with something you could point to. Eggs are a dollar. As opposed to tax the rich is, it could be, it's been too coded and it could be
Speaker 2
attacked. They've been crying about it for years. This right here is just like- You're not going to tax the rich. They're going to find a way to get out of it. That's right. And also. That's what you just said. Say some shit that's not going to happen. This is a really important cultural distinction. Every poor American. Not every. But most think they're going to be rich. That's the problem. So if you start saying tax the rich. I'm going to be rich one day. Exactly. But you know what? Eggs a dollar right now. Say this in New eggs are a dollar just say it whoever says that first win if steven a smith goes yo eggs are a dollar hey listen steven call it it's that simple i need democrat build a wall give me give me five build a walls for democrat eggs are a dollar but you're touching the class problem and i think part of the self-loathing is the the
Speaker 4
social problem that they've been addressing for the last 10 years bring that like they're the i think the the self-loathing we're talking about from like the left comes from this idea of, Oh, we are,
Speaker 1
we're elitist. So we need to like bring ourselves down and we need to engratio ourselves with the disenfranchised, the trans, all that stuff. When the real problem underlying all of it is the class issue that eggs are too expensive and that there's no affordable housing. Well, I would say housing is number one. I actually think what you were saying i would mortgages or something like that i'd be like all mortgages are two percent from now on jp morgan fuck you done yeah people would be like what what figure it out no that's not positive jb diamonds on cnbc be like well actually uh
Speaker 2
we had
Speaker 4
this we had this you remember the guy that was running yo the rent is too damn hot.
Speaker 1
I do remember that. One line, the rent is too damn hot. And the guy lives forever. He was a celebrity. Well, he lost. He was part of that fringe party. He became nationally
Speaker 4
famous. He was a homeless guy. He ran and almost won. He lost really bad. He lost really
Speaker 2
bad. He's a homeless guy. It doesn't matter. But I'm just saying that's a very true damn high. You're homeless. That makes sense. But that's proof.
Speaker 4
I think that's proof of the point.
Speaker 2
If Stephen A. says
Speaker 1
the rain is too damn high and also has some fucking policy and is able to sell it and eggs, we're going to make them a dollar. I love that bill at the wall point. It can't just be the one thing, but if you have some credibility, I mean, that's one of the genius. The other thing about Trump and part of the reason
Speaker 2
that Democrats... Sorry, sorry, but like the guy from Squid Game that said he was going to give $1,000 to every person. Oh, that's right,
Speaker 1
yeah. Wait, which one? I mean, not exactly, but... gang.
Speaker 2
He said he was going to give a thousand dollars. I thought you were talking about the actual squid game in the new season. And I was like, well, they kind of did say that because they were giving, they're going to split all the money. Number 351 was running for president. He said he was going to give a thousand dollars. He was never in squid game. I don't think he was. Mark, stop fucking
Speaker 3
kidding me. You should have him on here. You know why he's bitter? Because we wanted him on when he ran for new york and he didn't come because he's risky i'm not better i'm not
Speaker 2
better and that's why andrew would that's why he got killed in this great game oh of course he's come on now he needs it what i told him what i told andrew is you cannot win you cannot become mayor of he's 351 oh that was injury that was you cannot become mayor of New York without coming on this podcast. It's a simple fact. Most people that voted for Eric Adams
Speaker 1
think it's Alex Mead. You gotta get Cuomo. Oh, is he running again? Dude, he just announced yesterday. You gotta get him on. Oh yeah, I would love that. That would be fucking incredible. Which one is the Cuomo?
Speaker 2
Andrew Cuomo. Andrew. He's going from, see that's the thing. Governor of New York. Chimp nipple sauce monkey. Yeah. I call him a chimp nipple sauce monkey. Yeah. I did call him a chimp nipple sauce monkey,
Speaker 5
but
Speaker 2
he doesn't have the COVID thing, right? Yeah. Yeah. Yeah. Yeah. I forgot about that. That's how powerful mayor of New York is. You go from governor to mayor. That is an upgrade. There you go. Yeah. I don't know who the governor of New York is.
Speaker 1
I'm going to be completely honest. Kathy Ho-Ho., come on, you fucking do that. We have a woman running this thing. Yeah, yeah, yeah.
Speaker 5
This guy is crazy. You can't
Speaker 2
be telling me that I'm not. You know we're the governor. The last governor I knew was the blind guy. That was the last governor of New York. Elliot Spitzer in New Jersey? No, no, no, no. There was a blind guy that went to the Yankees game.
Speaker 1
The black guy, right? Wait, what are you talking, Dinkins? No, there was
Speaker 2
a blind guy that took over after somebody stopped and he was blind and they brought him to the Yankees game and gave him a fucking... What the fuck are you talking about? What
Speaker 1
his name? David Patterson?
Speaker 4
David Patterson. Oh, man, when was that? Dude, do your research.
Speaker 1
Yeah, I thought you know shit. I don't fucking live in New York. It's not the capital of the world. Look at that fucking
Speaker 4
Simpson character. It's the capital of the world. was the governor of New York. No, he's Stevie Wonder Blonde. He's vegan. When was this? Yeah, I remember this. When was his term? I
Speaker 1
have no idea. Come on, man. Just get back space. The best term. Goddamn. Stop. Goddamn.
Speaker 5
These fucking shit names don't know. Who the fuck is this? Free Luigi. We need the Luigi back. What the hell?
The International Monetary Fund’s No. 2 official said further escalation of conflict in the Middle East could provoke a spike in global oil prices. IMF First Deputy Managing Director Gita Gopinath spoke with Bloomberg's Lisa Abramowicz on the sidelines of the IMF Spring Meetings in DC
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