Single Best Idea with Tom Keene: Richard Portes
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Bloomberg Audio Studios. Podcasts. Radio. News. A single best idea, and this could be, you know, a legit 40-minute podcast today. An extraordinary effort today by our team. Jens Nordvik stopped by on foreign exchange. Just fiery on euro and risk to the dollar. He's with Exante Data. Anna Wong was on fire looking for a real shift in the American economy after 4th of July.

And I'm looking for a 4.8 percent unemployment rate and higher after that. Of course, that off the Fed meeting yesterday. Rick Atkinson showed up. We have two summer books this year. One is on economics and finance. Kenneth Rogoff. We'll have Ken Rogoff in here to talk about his just wonderful sprawl of a book across Russia.

Europe, across Japan, and then the future of the dollar. And another book which we featured today, Rick Atkinson joined us with his magisterial second volume titled

The fate of the day on the American Revolution. What an honor. Richard Portis joined us as well. He is esteemed at the London Business School. Professor Portis with a perspective of the transatlantic. It harkens back to World War II. Richard Portis here on the death of Joseph Nye of Harvard. I'm afraid it looks rather shaky now, sadly. Joe was a wonderful person and a terrific intellect.

and the soft power concept really made headway during the day when soft power could exercise power. Now, it seems that we've shifted away from that.

And the environment, the international environment is not conducive to the use of soft power. We are in chaos mode, honestly, internationally and to some extent domestically in this country, in the United States, and a bit in the UK, and some in Europe as well.

It's not good. The multilateral system is coming apart. And someone like Joe Nye, for example, was a great proponent and advocate of multilateral stability.

And it's going. What an honor to have Richard Portis on The Late Joseph and I. We continued with Professor Portis. Of course, so much to talk about, about domestic United Kingdom politics, Mr. Farage and all. But also, of course, the special relationship in some form of, quote,

comprehensive, unquote, agreement looking to Prime Minister Starmer? I think Starmer is, the Prime Minister of the UK, is treading a very fine line and not quite clear which side of that line he's falling on as between the European Union and the United States. And he's trying to have it both ways, good relationships with both, but it's not clear that that's going to be feasible.

So he may, in due course, have to make some tough choices. If he will portray this deal with the Trump is about to announce, he will portray that as a great step forward. As I've said, I don't think it's a great step forward. It's useful. But the baseline, as far as I can...

As far as I understand from the press, the baseline 10% tariff will stay. Richard Portis, with all of his academics in America, now at the London Business School. Just an honor to have him in Norio Beeney as well today. What a show it was. Across the nation on your commute.

Thank you so much for listening. And a major shout out to Google and all their technology with Android Auto. It's changing radically. They're really enhancing that software on YouTube around the world, including Richard Portis, London. Thank you for subscribing to Bloomberg Podcasts and out on YouTube podcasts. This is Single Best Idea.

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