Joining us now with the latest on trade talks, uh the future of Tik Tok and more, Treasury Secretary Scott Bessen. Mr. . Secretary, uh it's good to have you on up.Even I can figure out where you are from that backdrop, >> Joe. Good to see you. Good to be here in London.>> And it's good to have you on. So we I I think you got obviously you have an earpiece in. So you heard what was in our headlines.We can Let's just go in order. um and talk about some of the things with uh with Steve Meyer that that we talke ...

I want to talk about uh Tik Tok, but I also this the market's at new highs again, Mr. . Secretary, and and I I made the point again that most of the stock markets, maybe not the Dow, but the S&P and the NASDAQ indicated higher today with everything we've heard about and worried about in terms of global trade rebalancing and tariffs and, you know, the labor market and everything else. Do you think it does it deserve to be there.does uh is it because of the anticipation of some rate cuts or is it something mo ...

Home affordability is a national crisis.Local governments have to deregulate and allow for more supply to be built, while the Fed should cut interest rates significantly.Obvious solutions to a painful problem. ...

Economic Overview - The current economic situation is perceived to be worse than many realize, with significant payroll losses and stagnant private payroll growth [14][15] - The inflation rate is above the Federal Reserve's target, with a three-month change in the Consumer Price Index (CPI) at 3.5%, and goods inflation at 3.0% [5][6] Tariffs and Inflation - Tariffs are believed to have contributed to inflation, with costs being passed on to consumers, although there are arguments that tax cuts and deregulation have also played a role in lowering costs [7][8] - The debate exists on whether the inflation caused by tariffs is a one-time issue or a more persistent problem [6][10] Income Distribution - Under Biden's presidency, the middle class saw no gains when adjusted for inflation, while the poor became poorer, contrasting with the economic growth experienced during Trump's first term [17][18] - The discussion highlights a philosophical difference in economic policies, with a focus on the impact of income redistribution efforts [18] Employment and Immigration - A significant drop in immigration numbers is noted, which could affect employment figures, with estimates suggesting a reduction from millions to potentially negative numbers [19][20] - The importance of analyzing both current and past inflation numbers is emphasized, as they can influence perceptions of economic health [21] Stock Market Sentiment - The stock market is viewed as a more reliable indicator of economic health than inflation numbers, with current market performance being described as positive [22]

Muhammad, let's jump on a potential third option. As Steve was talking about these two options, is it the buyers that are doing it. It is the sellers who are paying for it.There's a a subsection, a third category that could come up. Part of this, and maybe it ties back to the fact that the jobs market is so weak. are the makers of this stuff eating it but making up for it by squeezing as much productivity out of as they can out of their existing job base not hiring new people and maybe relying a little on A ...

Fiscal Policy & Economic Growth - The analysis suggests tariffs are running at an annual rate between $400 billion and $500 billion, potentially improving the deficit, but real GDP growth is considered the key to significantly reducing the deficit as a percentage of GDP [1] - The report anticipates real GDP growth will surprise on the high side of expectations later in the year and into 2026, driven by innovation platforms like robotics, energy storage, AI, multiomic sequencing, and blockchain technology, all catalyzed by AI [1] - The analysis highlights deregulation, particularly in crypto, AI, and nuclear energy, as a significant factor for economic growth, with tax changes encouraging manufacturing and innovation through accelerated depreciation schedules and full expensing of equipment, R&D, and software [1] Inflation & Monetary Policy - The report indicates that while inflation may seem stuck in the 2% to 3% range, innovation-driven productivity gains could lead to deflation in the coming years [2] - The analysis points out that M2 money supply growth has significantly dropped compared to the COVID boom, and the velocity of money is declining, potentially diffusing inflationary pressures [2] - The yield curve, measured by the two-year Treasury yield relative to the three-month Treasury yield, indicates tight monetary policy, which is expected to have disinflationary or deflationary effects [3] - True inflation CPI is reported at 19%, even with tariffs factored in, and consumer inflation expectations are expected to decline [3] Market Indicators & Investment Strategy - The analysis notes that manufacturing has been contracting for the last three years, and services are not in great shape, signaling potential economic concerns [4] - The report highlights that AI-powered capital spending is increasing, supported by new tax rules, while the trade deficit is being addressed [5] - The analysis observes that pending home sales are deteriorating, and new home inventory is high, potentially leading to price cuts and impacting the CPI [5] - The report suggests that the return on investment in the US is expected to increase due to innovation, tax laws, and deregulation, potentially strengthening the dollar [5] - The analysis notes that corporate profits are healthy, but quality of earnings and harnessing new technologies will be crucial for future growth [5] - The report observes that commodity prices are going nowhere, and gold is breaking out to all-time highs relative to metals, possibly signaling deflationary concerns [5]

Summary of Nexstar Media Group (NXST) 2025 Conference Call Company Overview - **Company**: Nexstar Media Group (NXST) - **Industry**: Local Broadcast and Media Key Points and Arguments Regulatory Environment and Deregulation - Nexstar is optimistic about achieving regulatory approval for the acquisition of Tegna, citing a favorable environment under the Trump administration focused on deregulation [3][4][6] - The FCC is expected to eliminate the national ownership cap, which is crucial for the Tegna acquisition [7][8] - A unity petition from major broadcasters, including Nexstar, supports the elimination of outdated regulations, emphasizing competition against big tech rather than among traditional broadcasters [5][6] Local Media Strategy - Nexstar focuses on the local media space, which is seen as a less competitive but more stable revenue source compared to national media [9][10] - The company has a diverse customer base with over 43,000 different customer skews, providing a more resilient revenue model [10][11] - Nexstar's local sales force and journalistic resources create a competitive moat that is difficult for new entrants to replicate [11][12] Tegna Acquisition - The Tegna acquisition is viewed as a continuation of Nexstar's successful consolidation strategy, with significant overlap in markets [14][15] - The company anticipates synergies from the acquisition, although the current market has seen companies rationalizing their cost bases, leaving less room for cost-cutting [15][16] Future of the Media Industry - Nexstar predicts increased consolidation in the local broadcasting industry, potentially leading to only a few major players [19] - The company believes that maintaining a free and independent press at the local level is essential for democracy and consumer choice [19][49] Sports Broadcasting - Nexstar views the entry of unbundled sports streaming products from ESPN and Fox as potentially neutral or beneficial for the pay-TV ecosystem [21][22] - The company has seen positive ratings growth in sports programming, indicating a strong viewer engagement [25][30] The CW Network - Nexstar is on track for The CW to break even by 2026, having transformed its programming to include more sports content while reducing costs [26][27] - The CW has experienced growth in primetime audience ratings, indicating a successful turnaround [27][29] Advertising Revenue - The advertising market has been stable despite macroeconomic challenges, with Nexstar benefiting from a diversified revenue base [32][33] - Political advertising is expected to increase by 20% in the upcoming midterm cycle, with broadcast media remaining a preferred choice for candidates [34] Cord Cutting Trends - The company observes a potential stabilization in cord-cutting trends, with a focus on retaining subscribers interested in sports and live news [36][37] NewsNation Network - NewsNation has evolved into a 24/7 news channel with significant growth in awareness and viewership, employing the largest number of journalists in the U.S. [39][40] - The network aims to provide balanced news coverage, appealing to a broad audience [43][44] Spectrum and ATSC 3.0 - Nexstar is optimistic about the potential of ATSC 3.0 technology, which allows for more efficient use of spectrum and new revenue opportunities [53][54] - The company plans to leverage its existing infrastructure to capitalize on the benefits of ATSC 3.0, including potential applications in GPS and data casting [61][62] Capital Allocation Strategy - Nexstar plans to use excess free cash flow to pay down debt following the Tegna acquisition, aiming for a leverage ratio of around 4x by the time of closing [62][63] Additional Important Insights - The company emphasizes the importance of local journalism and the role of local broadcasters in providing unbiased news [49][52] - Nexstar's leadership expresses confidence in the future growth and opportunities within the local media industry, particularly in light of regulatory changes and technological advancements [52][56]

A major win for Google parent Alphabet in overtime here as a judge rules the company can keep its Chrome browser but can't do exclusive search deals. This ruling looks like a major win for Alphabet in a case that was originally filed by the DOJ in 2020. What could a ruling like this mean for overall tech VC market tech regulation.Well, joining me now is Paul Abraham Zade. He is partner at investment firm 1789 Capital. Paul, for the rest of tech, is this good because maybe the big companies can buy them, bad ...

Zimbabwe’s top industry body has asked government to implement a raft of deregulation reforms similar to steps taken by Argentina to help ease the cost of doing business https://t.co/NB4jViB0hi ...

Environmental Policy - The Trump administration proposed a wide range of environmental rollbacks [1] - Climate policy has become entangled in the culture wars [1] - Deregulation is the approach to climate policy [1]