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Single Best Idea with Tom Keene: Jordan Rochester & Gautam Mukunda
In this episode of 'Single Best Idea,' Tom Keene engages with experts Jordan Rochester and Gautam Mukunda to explore the chaotic dynamics affecting global markets and American politics. They...
Single Best Idea with Tom Keene: Jordan Rochester & Gautam Mukunda
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Speaker A
Hi, I'm Stephen Carroll.
Speaker B
And I'm Caroline Hepker, here to introduce you to a podcast that brings you the news you need to start your day in just 15 minutes.
Speaker A
It's called Bloomberg Daybreak Europe Edition, covering all the top stories across Europe and around the world. Each weekday morning, we're up early to bring you the Latest news. By 7am, we've got everything you need.
Speaker B
To know, from geopolitics and global events to economics and what's moving markets. I'm covering it all from London and.
Speaker A
I'm in the EU's capital, Brussels. We have 3,000 journalists and analysts around the world to tell you what's happening, what it means and why it matters.
Speaker B
It's more than just business headlines, from the price of your breakfast to global shifts in power. Economics and money aren't just part of the story, they're often the driving force.
Speaker A
So start your day with us on Bloomberg Daybreak Europe Edition for the news you need to know and the context to make sense of it.
Speaker B
Find new episodes of Bloomberg Daybreak Europe edition by 7am London time on Apple, Spotify or wherever you get your podcasts.
Speaker A
Bloomberg Audio Studios podcasts, radio news.
Speaker C
Single best idea on the single most chaotic day I've seen since we started doing this. Not over, you know, 20 years plus, but just in the last year and a half. Two years. Today was nuts. There was a great cartoon on Nickelodeon years ago called Angry Beavers and the two beavers were like brothers, I think, I can't remember, and they go, that's nuts. The entire day was like that. Lisa Mateo saved us from the get go. I can't say enough about Lisa Mateo's ability to coalesce all the different information that's coming in. We were focused on talking conversations with people that actually know what they're talking about. Mandeep Singh was brilliant on AMD. I still don't understand AMD and OpenAid. If you know, let me know as well, and many others as well. Jordan Rochester joined us from Mizuho on the politics of LDP in Japan. It moved the markets. Japanese equities higher, the yen weaker, and critically, bond prices depressed. Here is Jordan Rochester on immigration dynamics in Japan.
Speaker D
You've actually seen a big increase in the number of foreign workers in Japan. So it's close to 3.8%. 4% of total employees in Japan are foreign born. And this is because of the demographic problem. Roughly around 600,000 people less in Japan due to more deaths than births is happening right here and now. And that could be rising to a million in a decade or so. So Japan needs immigration to fix that gap. But you have now elected a conservative pm. She's conservative in her ideals. And there is, there's also another party called the Senseito Party in Japan, which is essentially a position which is not as pro immigration as the other parties are. So there is a backlash to the rise in immigration. There is a backlash to the rise in tourism as well culturally, and that's taking place in Japanese politics.
Speaker C
Jordan Rochester, and he looks at yen weakness here as perhaps an opportun opportunity. I'm sure he'll write about that. Look to Mizuho to get Jordan Rochester's thoughts on strong Japanese yen. We finished strong in a chaotic show with Gautam and Kunda of Yale University. Absolutely phenomenal on American politics, our civics as well here on the centrist Republicans and the centrist Democrats. Professor Makunda of Yale, you are seeing.
Speaker E
People trying to push back. The New York Times had an article saying that Seth Moulton was going to challenge Ed Markey in Massachusetts. And if, if Moulton runs, he's not going to run for the left, right. Like, he's a Marine. He's like, that's just not, that's not.
Speaker C
What his campaign is doing. Pretty good in Virginia, right?
Speaker E
That's right.
Speaker C
Are there more of those people out there? I don't observe them.
Speaker E
Andy Beshear in Kentucky I think is trying to sort of do that. But what they'll have to thread the needle is being moderate on policy but not moderate and opposing Trump. Because if you're just sort of saying, look like we saw Gretchen Whitmer really hurt herself by trying, by seeing too willing to work with Trump in ways that Democratic Party voters just don't like.
Speaker C
Gautam McCunde, Yale University his book Picking Presidents is a must read on the tensions of the 20th century. Again, a major shout out today for Lisa Mateo her for keeping the show on the rails. We're on podcasts on Apple and Spotify, on YouTube podcasts, it's single best idea.
Speaker B
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