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because the progress happens in small steps, what it s happening. in palpable ways. this evening was interesting, the speech by president biden, they address from the white house, i thought what was interesting about it was it s quiet, normalcy. the idea that there are as a lack of superlatives, there s punditry all over the place. twitter is not, i mean it could be a tree falling in the woods. the president of the united states given important address and it s okay. and it said nice things about republicans, and nobody said their hair on fire. you pointed out that even in the obama days, it would ve been hard pressed to pay a compliment to the speaker of the house. and that s what joe biden did tonight. it was the normalcy that the part of amazing me today. it was paid by the, and welcoming refreshing change for a lot of people. yes, have a good night, see you next week. you two ali! think about this, do you remember where you are the first time you heard ....
about little changes, not that little, that do happen. they are smart but they all meaningful. they re meaningful. i think that s why you see a lot of tension in this country. because the progress happens in small steps, but it s happening. in palpable ways. it s happening. this evening was interesting, the speech by president biden, the address from the white house. i thought what was interesting about it was the quiet normalcy. the idea that the lack of superlatives, there isn t punditry all over the place. twitter is not it could be a tree falling in the woods. the president of the united states gives an important address. first of all. and it s okay. and said nice things about republicans and nobody set their hair on fire. that s the way it has to work. you pointed out, even in the obama days, it would ve been hard-pressed to pay a compliment to the speaker of the house. yes. that s what joe biden did tonight. the normalcy was the part that ama ....
That doesn t make any sense whatsoever. let s talk about that. inflation is coming down. there was always a fear that if you don t have a gold standard against which to measure your money, inflation will be out of control. then ever came to pass. no, it didn t. in fact, since we ve gone off, what you could say, officially the gold standard in 1971, the dollar has strengthened about 55% of the time. and weakened about 45% of the time. the dollar has performed remarkably well, post-gold standard era. so i did hear part of that conversation, this idea that modern monetary theory, or mmt, brought us unleashed to this inflation 40 year high or something. mmt is really a lens. it s a framework for analysis. it helps us understand what policy options are available to us. as you discussed in a previous segment, congress sees things very differently this time. they took advantage of the policy space that was available in ways that they did not after the financial crisis, and the ....
Is talking about out of control inflation. he said, modern monetary policy is to blame for that. i said we don t actually have modern monetary policy as a policy in place. that doesn t make any sense whatsoever. let s talk about that. inflation is coming down. there was always a fear that if you don t have a gold standard against which to measure your money, inflation will be out of control. then ever came to pass. no, it didn t. in fact, since we ve gone off, what you could say, officially the gold standard in 1971, the dollar has strengthened about 55% of the time. and weakened about 45% of the time. the dollar has performed remarkably well, post-gold standard era. so i did hear part of that conversation, this idea that modern monetary theory, or empty, brought us unleashed to this inflation 40 year high or something. empty is really a lens. ....
Our pundit Dave Nevison shares his fancies for an excellent card at Cheltenham, including his tip for the feature £130,000 Racing Post Gold Cup. Enjoy all the a ....