And I find that to be kind of unbelievable.

Yeah, I'm very involved in this debate.

We are starting to get money from some of these tech companies because we obviously need data centers in this country if we're going to lead the technology wars against China and other countries.

But I was telling these tech executives, look, 80% of your workers are voting Democrat.

We're the ones who are trying to...

I mean, the biggest enemy of AI is Bernie Sanders, and it's like, why are you supporting his agenda? I just wrote a piece with Robert Wolf, who's a Democrat.

He worked for Obama, but he's a smart...

What's going on here? Well, we can't

all.

So a lot of people made a lot of money yesterday, and then today a lot of people lost a lot of money.

I think there are two factors.

I think that people are looking at some of the Democrats who've been elected, and let's face it, they're not exactly free market conservatives.

And I think there's some worried that the Democratic Party may move more in a socialist direction, and that's obviously bad for markets.

But I think the major factor was what you just mentioned, Elizabeth, that we need data centers in this country.

I mean, I'm a big fan of our technology sector.

You say, quote, That's quite a paragraph.

And those are rural voters in Michigan.

They stayed red, those areas.

Yeah, all red.

Well, but, you know, Detroit and Dearborn are two of the biggest, you know, I mean, Detroit's a big part of the state, but... you know i guess my message today is you know uh that the economy is strong we because of the tax cuts the pro uh you know american energy policies the the deregulations uh and what worries me i don't know but i think that the first thing i was about they're gonna try to impeach the guy again for the fourth time i mean these people are deranged they're gonna try to pick up every you know they're gonna be have them in court and and uh they're gonna bring up all of the trump uh you know cabinet members and rake them over the coals i don't think that's what americans want we just want a good economy we want the jobs and the at the end of inflation the war was very unpopular in the in the you know in the in the exit polling you know 70 percent of americans were against the uh the iran bombing so um That's where we're at, but I I've lived through this before.

I think Democrats are likely to overplay their hand.

And I think there will be people will say, wait a minute.

I wasn't voting for, for this.

not another example of tariffs being a problem.

Where do we go from here now that Democrats have control of both chambers? And then I'll ask a follow up on that.

Well, Katie, you get an A in economics today for your discussion about this because you're spot on.

I mean, government spending definitely leads to more inflation, especially when it's met with higher tax increases.

But the other part of this that's really important is if you get a booming economy, And the economy is more productive and it produces more goods and services.

So the supply of goods and services goes up.

Then what happens to the price of things? It goes down.

And so that's been really Trump's approach is to try to increase the growth rate of the economy.

What do you make of that for the economy moving forward since that's been such a big discussion point in terms of the future?

And I also want to know your general impressions, midterms, and what does it mean for our economic well-being, sir?

Well, thanks.

And by the way, I'm always at your beck and call, so happy to come on the show.

Well, listen, I mean, it was...

You know, obviously people were angry about the price of gas and, you know, they're angry about the quote affordability.

I would say just as a lead, you know, we have a healthy economy.

I mean, we do have a good economy.

Do you think like J.D. Vance thinks that the war was the number one issue? I can't believe that.

And I also want to know your general impressions, midterms, and what does it mean for our economic well-being, sir?

Well, thanks.

And by the way, I'm always at your beck and call, so happy to come on the show.

Well, listen, I mean, it was, you know, obviously people were angry about the price of gas and, you know, they're angry about the quote affordability.

I would say just as a lead, you know, we have a healthy economy.

I mean, we do have a good economy.

It's not an A plus plus economy, like Trump says.

Do you think like J.D. Vance thinks that the war was the number one issue? I can't believe that.

Steve, thanks for joining us.

Well, I was going to say good morning, but it's not a good morning.

It was a bloodbath, no question about it.

And I listened to everything you just said, and you're spot on in your analysis.

I would add one thing that also went wrong.

And by the way, I'm a Trump guy.

I do think – look, this is a strong economy.

difference, but they're still here illegally.

And by the way, do you read that, Steve, that just they're happy there's some stability? And Trump came out and said he will work with

Democrats.

I think the fact is that the oil price fell, and we get that oil price back down to $80, $70 a barrel.

I think we've got...

Look, Trump, it's a strong economy, folks.

I mean, I know people are very angry about...

But I agree with my buddy Larry Kudlow.

I got a one-page ad in the New York Post tomorrow, and it's calling upon all Democrats and Republicans to act as Americans and pull together for America's sake and stop being like in kindergarten.

And by the way, do you read that, Steve, that just they're happy there's some stability? And Trump came out and said he will work with

Democrats.

I think the fact is that the oil price fell, and we get that oil price back down to $80, $70 a barrel.

I think we've got – look, Trump, it's a strong economy, folks.

I mean, I know people are very angry about – but I agree with my buddy, Larry Kudlow.

It's a strong economy.

You got strong manufacturing, strong construction numbers.

I got a one-page ad in the New York Post tomorrow, and it's calling upon all Democrats and Republicans to act as Americans and pull together for America's sake and stop being like in kindergarten.

And by the way, do you read that, Steve, that just they're happy there's some stability? And Trump came out and said he will work with

Democrats.

I think the fact is that the oil price fell, and we get that oil price back down to $80, $70 a barrel.

I think we've got...

Look, Trump, it's a strong economy, folks.

I mean, I know people are very angry about...

But I agree with my buddy Larry Kudlow.

I got a one-page ad in the New York Post tomorrow, and it's calling upon all Democrats and Republicans to act as Americans and pull together for America's sake and stop being like in kindergarten.

He wasn't clear or convincing for a lot of voters.

Well, I think there's three or four things that I think went wrong.

We have this in our hotline today, by the way.

One is that, you know, tariffs turned out very unpopular.

And they raised prices on farmers and, you know, small businesses.

And so, you know, the terrorists were clearly now moves away from terrorists.

The second issue was these ice raids.

Where was it? It wasn't there.

He wasn't clear or convincing for a lot of voters.

Well, I think there's three or four things that I think went wrong.

We have this in our outline today, by the way.

One is that, you know, tariffs turned out very unpopular.

and they raised prices and farmers and, you know, small businesses.

And so, uh, you know, the terrorists were clearly now moves away from terrorists.

The second issue was these, uh, ice raids.

Where was it? It wasn't there.

He wasn't clear or convincing for a lot of voters.

Well, I think there's three or four things that I think went wrong.

We have this in our hotline today, by the way.

One is that, you know, tariffs turned out very unpopular.

and they raised prices and farmers and, you know, small businesses.

And so, uh, you know, the terrorists were clearly now moves away from terrorists.

The second issue was these, uh, ice raids.

uh but again not just the president but the congress the congressional leaders the republicans they didn't have clear concise messaging where was it it wasn't there

We're staying positive, but what are you thinking? What are you thinking, boss? What's going on?

Yeah.

Well, I feel like I got run over by a truck.

But listen, I mean, this is a president who got a spanking last night.

But my God, you know, what we've talked about so many times on your show, I mean, this is a president who's done so much for the American economy.

I mean, you look at that.

The big, beautiful tax bill, the deregulation, the pro-American energy policies, the fact that we have the lowest poverty rate.

don't you think? I think so, and it's so frustrating when the people say affordability, and Donald Trump has done so well keeping our stock markets

chance to explain this but but help me understand because i think you want to look at the blue line right which is a as a share of wealth where maya just directed our attention to gdp but even if you look at the blue line since 2007 the debt has more than doubled

yeah What am I looking at, first of all? So the red line, of course, is what Maya was talking about.

That's the debt as a zero of our GDP, and that's a very worrisome number.

And what I was saying, and the reason you brought me on the show, I think, is because I do think you should look at, you know, think of a household.

You are going to look at your debt as a relation to how much you actually own.

You know, so I have a lot of debt, but I also own a home.

I have, you know, $800,000 in, you know, stock and things like that.

I was going to

They're both happening at the same time, it seems like.

Well, the problem for Trump, and then this is a lesson we've learned throughout, you know, the last 50 years is one thing Americans hate is high gas prices, you know, because it's the one thing, it's always one of the first parameters we use for how well the economy is doing.

We're in a good mood when gas prices go down and we're in a bad mood when the gas prices go up.

And that has been one of the frustrating things.

I mean, you know, I have an Audi, uh, I think I mentioned this the other day on your show and it's a big tank 16, but, the gallons but you know i filled up my tank and it was 110 you know i'm like oh my gosh you know so now diesel is more expensive than gas but uh you know so that is a problem for trump in the republicans because people's gas prices are so high we also have a tendency to look at you know the food, you know, grocery prices are high too.

And my wife gets so angry, you know, when she comes home from the store, but I say, well, yeah, the prices are higher, but our income is higher.

So people tend to look at just what's happened to prices and not what's happening to their income.

yeah and you know i don't think that people also understand the the massive expansion of government you know i think of course the democrats would have to get the white house in 2028 to really take this uh full steam ahead but the leftist economic policies that are being presented very openly and honestly and in practice in new york city among a few other places across the country it's un-american

They're both happening at the same time, it seems like.

Well, the problem for Trump, and then this is a lesson we've learned throughout, you know, the last 50 years is one thing Americans hate is high gas prices, you know, because it's the one thing, it's always one of the first barometers we use for how well the economy is doing.

We're in a good mood when gas prices go down and we're in a bad mood when the gas prices go up.

And that has been one of the frustrating things.

I mean, you know, I have an Audi, uh, I think I mentioned this the other day on your show and it's a big tank 16, but, the gallons but you know i filled up my tank and it was 110 you know like oh my gosh you know so now diesel is more expensive than gas but uh you know so that is a problem for trump in the republicans because people say ah gas prices are so high we also have a tendency to look at you know the food, you know, grocery prices are high too.

And my wife gets so angry, you know, when she comes home from the store.

But I say, well, yeah, prices are higher, but our income is higher.

yeah and you know i don't think that people also understand the the massive expansion of government you know i think of course the democrats would have to get the white house in 2028 to really take this uh full steam ahead but the leftist economic policies that are being presented very openly and honestly and in practice in new york city among a few other places across the country it's un-american

They're both happening at the same time, it seems like.

Well, the problem for Trump, and this is a lesson we've learned throughout, you know, the last 50 years is one thing Americans hate is high gas prices, you know, because it's the one thing it's always one of the first barometers we use for how well the economy is doing.

We're in a good mood when gas prices go down and we're in a bad mood when the gas prices go up.

And that has been one of the frustrating things.

I mean, you know, I have an Audi, uh, I think I mentioned this the other day on your show and it's a, you know, big tank 16, but, uh, But, you know, I filled up my tank and it was one hundred and ten dollars.

Oh, my God.

You know, so now diesel is more expensive than gas.

But the The leftist economic policies that are being presented very openly and honestly and in practice in New York City, among a few other places across the country, it's un-American.

It's just

unthinkable.

Exactly.

So it doesn't make really any sense.

I know people are angry at Trump, but come on, you're going to put somebody who wants to destroy your major industry and job producer.

You know, what worries me is that the two states I've talked about this so many times on your guy's show, and you can go to votewithyourfeet.com and you can look at these data.

But what two states are just cleaning up in the last 10 years? Florida and Texas.

I

I'm surprised he's here this morning because I think if I'm not mistaken, and I'm going to ask him, did you have a big soiree last night?

Oh, my gosh, Ray, I am so hungover.

We had, you know, Art Laffer and Steve Forbes and Glenn Youngkin and just, oh, we had Nick Shirley.

You know, Nick Shirley was the hero who was one exposed to all the fraud in, you know, the Somalian daycare centers and so on.

And what a hero that guy is.

And by the way, the guy has to have full time a bodyguard because his life is in danger because he's nutcases on the left.

who, uh, who want to kill him because he's exposing all the waste in our government.

This problem solely lies on the Democrats because by this time, should Kamala Harris or Joe Biden been back in office, we were all going to be driving around in battery-powered cars.

Appreciate it.

Well, good morning, Dan.

And by the way, I agree with just about everything that Jay Diamond said in that interview.

I mean, we are... we are doing so much better economically right now than China is.

You know, their stock market, people don't realize that the story of China really was the big, big boom in the 1990s and 2000s when they moved to free market capitalism.

And when President Xi came in, they moved back towards a much more centrally controlled, you know, control and command economy out of Beijing.

And since then, they've been pretty flat.

Your thoughts?

hey steve moore they keep acting like the number one issue is gas prices it's the number one issue well a gas price is going up well that could cost somebody you know an extra hundred dollars a month but democrats have raised your electric bill an extra 200 a month so isn't that the bigger problem your electric costs

well that's a big problem and and it's true that the uh the blue states have much higher electric power costs you know we we use uh in addition to gasoline you know oil uh that that we use in our uh in our tank for our cars you know we are massive producers of natural gas and that's part of the uh their great bounty from trump's drill baby drill policy And natural gas is how we get most of our electric power.

A lot of people don't actually even know where we get our electric power comes from.

A lot of it comes from natural gas and a lot of it comes from good old fashioned coal.

And so we are paying about half as much as Europe pays because they went in all in for the green stuff, you know, the wind and solar, which is fine, but it's not scalable.

It's very expensive to produce and it's not reliable.

So we have a big advantage when it comes to energy.

yeah but here in new york kathy ogle blocking the natural gas cuomo shutting down indian point that quadrupled everybody's electric bill so uh what what is the actual opposition natural gas it's as clean as can be

So isn't that the bigger problem, your electric costs?

Well, that's a big problem.

And, and it's true that the, uh, that the blue states have much higher electric power costs.

We use, in addition to gasoline, oil that we use in our tank for our cars, we are massive producers of natural gas.

And that's part of the great bounty from Trump's drill baby drill policy.

natural gas is how we get most of our electric power a lot of people don't actually even know where we get electric power comes from a lot of it comes from natural gas and a lot of it comes from good old-fashioned coal and so uh we are paying about half as much as europe pays because they went on in all in for the green stuff you know the wind and solar which is fine but it's not it's not scalable it's very expensive to produce and it's not reliable so we have a big advantage when it comes to energy Now, on the gas prices, yes, they are up, but one of the things we point out on our hotline yesterday was that, guess what states, Mark, have the highest gas prices? Wild guess, blue states? Yeah, guess which one? California, New York? Yeah, I was just in Los Angeles about a week ago, and it was like $6.49 a gallon there.

It's like $1 to $1.50 higher than... other other states so you know i don't get the logic if you're angry about gas prices i am i hate you know paying 80 to fill up my tank but you know you pay the highest gas prices in the states that are run by democrats so do you think they're going to lower the price when they get into power i i doubt it

but here in new york kathy ogle blocking the natural gas cuomo shutting down indian point that quadrupled everybody's electric bill so uh what what is the actual opposition to natural gas it's as clean as can be

yeah hey steve moore they keep acting like the number one issue is gas prices it's the number one issue well a gas price is going up well that could cost somebody you know an extra hundred dollars a month but democrats have raised your electric bill an extra 200 a month so isn't that the bigger problem your electric costs

well that's a big problem and and it's true that the uh that the blue states have much higher electric power costs.

We use, in addition to gasoline, oil that we use in our tank for our cars, we are massive producers of natural gas.

And that's part of the great bounty from Trump's drill baby drill policy.

natural gas is how we get most of our electric power a lot of people don't actually even know where we get electric power comes from a lot of it comes from natural gas and a lot of it comes from good old-fashioned coal and so uh we are paying about half as much as europe pays because they went on in all in for the green stuff you know the wind and solar which is fine but it's not it's not scalable it's very expensive to produce and it's not reliable so we have a big advantage when it comes to energy Now, on the gas prices, yes, they are up, but one of the things we point out in our hotline yesterday was that guess what states, Mark, have the highest gas prices? uh prices uh wild guess blue states yeah guess which one uh california new york yeah cal yeah i was just in los angeles uh about a week ago and it was like 649 a gallon there it's like a dollar to a dollar 50 higher than other other states so you know I don't get the logic.

If you're angry about gas prices, I am.

I hate paying $80 to fill up my tank.

So what is the actual opposition to natural gas? It's as clean as can be.

something that's not a that's not a kind of frosty thing to talk about people go oh well they're not going to understand it look at your retirement it's up at least by 35,000 maybe more even more 50 and 60,000 you know so people don't understand it I got to get these things out the last week I want to do all the positive things that the president has done and there's been so much that you know what Stephen if I may before we go into the economics of it all the border alone if there was a president that closed the border the way this president has in and he did it in five weeks with borders are home and if he if anybody in for eight years that would be that would be the monumental achievement of any president he did it in five weeks and it's still thank god because otherwise we'll be spain will be italy we'd be france for crying out loud steven right yeah

i mean you know The problem is that he fixed it so quickly.

You know, I remember we had two million illegal immigrants coming in every year under Biden.

I mean, they basically they basically were shoveling them in.

Now, come on in.

There was no border security whatsoever.

It's one of the reasons Trump won the election.

mean,