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<v Speaker 1>It's Night Side with Dan Ray on WBS Boston Radio.

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<v Speaker 2>Thank you very much to call. I want our audience

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<v Speaker 2>to know for sure that they will be well served

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<v Speaker 2>by us tonight. This program will be much more exciting,

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<v Speaker 2>much more satisfying, and much more informative than any football

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<v Speaker 2>game anywhere in the United States of America tonight. And

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<v Speaker 2>I wasn't sure what Nicole was talking about, but don't

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<v Speaker 2>even worry about that game, because it matters. Not. What

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<v Speaker 2>matters is all the great guests we have for you

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<v Speaker 2>here on Nightside. My name is Dan Ray, and I

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<v Speaker 2>will take you all the way until midnight, and we

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<v Speaker 2>will talk with some great guests in the first hour,

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<v Speaker 2>and we'll talk later on tonight with the wz car

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<v Speaker 2>guys from ten until midnight, which will give you an

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<v Speaker 2>opportunity to get all of your automotive questions answered. And

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<v Speaker 2>then we're going at nine o'clock talk about that horrific

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<v Speaker 2>attack that some of the guards up at the state

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<v Speaker 2>prison in Lancaster, Massachusetts were objected to last night. We'll

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<v Speaker 2>get to all of that, but first I want to

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<v Speaker 2>remind you that Rob Brooks is back in the control

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<v Speaker 2>room and he will take care of you when we

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<v Speaker 2>do get time to take phone calls. There are no

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<v Speaker 2>phone calls during the first hour, however, and the reason

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<v Speaker 2>for that is we have four great guests. We're going

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<v Speaker 2>to start off with Professor John Kelly. He is a

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<v Speaker 2>professor at Endicott College, which happens to be one of

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<v Speaker 2>my favorite colleges I think the most beautiful college campus

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<v Speaker 2>in maybe all of the country, never mind certainly here

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<v Speaker 2>in New England. Professor John Kelly, Welcome to Nightside.

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<v Speaker 3>How are you, hi, Dan, I'm very well, Thank you

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<v Speaker 3>very much. That's a great I agree with you about

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<v Speaker 3>our campus, a beautiful, beautiful place.

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<v Speaker 2>Well, it's also you know President Richard Wiley, or Dick

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<v Speaker 2>Wiley as we knew him. I was very close with

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<v Speaker 2>Professor Wiley actually delivered the commencement address at Endicott College

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<v Speaker 2>in two thousand and nine. Yes, and I you know,

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<v Speaker 2>I've been there on the campus many times. We've done

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<v Speaker 2>some talk the votes up there during election seasons pre COVID, Yes, absolutely,

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<v Speaker 2>gathered together unmasked. But so you're a psychology professor up

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<v Speaker 2>there and you have been there, Rob tells me for

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<v Speaker 2>close to a couple of decades. So if I've met

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<v Speaker 2>you at some point on campus.

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<v Speaker 3>I've seen you only you know in the audience. We

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<v Speaker 3>have not personally met before. But yeah, it's great to

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<v Speaker 3>meet you teleponically anyway.

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<v Speaker 2>Absolutely, So you are going to explain to us something

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<v Speaker 2>called the no cibo effect. It's sort of the opposite

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<v Speaker 2>of the plus ebo effect. You were quoted very prominently

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<v Speaker 2>in an article in the Washington Post about a month

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<v Speaker 2>and a half ago. And I think everybody knows what

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<v Speaker 2>a placebo is. If why don't you give us the

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<v Speaker 2>easy definition.

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<v Speaker 3>Of a placebo.

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<v Speaker 2>Because I think everyone knows what a placebo is, and

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<v Speaker 2>I think that will set up the explanation of the

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<v Speaker 2>no cebo very well if you don't.

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<v Speaker 3>Mind, well, sure, I mean, placebo really is just any

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<v Speaker 3>kind of treatment it can be. Usually people think of

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<v Speaker 3>it as a pill with really no active ingredient. It

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<v Speaker 3>could have sugar in it. More often it has cellulocin

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<v Speaker 3>itch or something very inert that is used often in

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<v Speaker 3>randomized control trials to determine whether the real drug actually

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<v Speaker 3>works better than what would happen if the person takes

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<v Speaker 3>the drug and has positive expectancies and expecting to do

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<v Speaker 3>well even though they're not getting a real drug they

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<v Speaker 3>think they might be, and they often show dramatic improvement.

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<v Speaker 3>So that's a placebo effect essentially, and so it's.

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<v Speaker 2>All in the mind, it's not within the physical system.

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<v Speaker 3>Well, that's very interesting that you say. I mean that's

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<v Speaker 3>the way we kind of think about it. The way

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<v Speaker 3>I just describe it, it sounds like it's sort of

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<v Speaker 3>all in your head, which makes one think, oh, it's

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<v Speaker 3>not a real phenomenon. It's kind of fague and if

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<v Speaker 3>it's for a period of time. That was the way

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<v Speaker 3>it was thought about, But there has been a lot

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<v Speaker 3>of research to show that there are real physic theological

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<v Speaker 3>changes that occur for people. And if you think about it,

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<v Speaker 3>I think psychology, yes, it's something's happening in the mind.

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<v Speaker 3>But the mind is, you know, is a part of

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<v Speaker 3>the brain, a part of the body, so it's all connected,

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<v Speaker 3>and so if you have a feel like you're doing better,

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<v Speaker 3>there are actual physiological changes.

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<v Speaker 2>Sure, Okay, So a no Sebel effect is the flip

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<v Speaker 2>side of it. This is not something that happens in

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<v Speaker 2>regularly scheduled tests, but this is something that some of

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<v Speaker 2>us go through. And why don't you explain it? What

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<v Speaker 2>the no Sebel effect.

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<v Speaker 3>Is sure, and I would argue that we all experience

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<v Speaker 3>this in one way or the other, both no cibo

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<v Speaker 3>and placebo effects. I also will just say, just to

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<v Speaker 3>preface this, that not only could this occur in reference

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<v Speaker 3>to an inert treatment, you know, a sugar pill, but

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<v Speaker 3>it can also occur with real treatments. That real treatments

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<v Speaker 3>could be the effects of them, could be increased or

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<v Speaker 3>decreased through psychological mechanisms. But anyway, the no sebo effect,

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<v Speaker 3>some people think about it as sort of the dark

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<v Speaker 3>side of the placebo, the evil twin of placebo, And

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<v Speaker 3>it's basically just the notion that if you take a treatment,

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<v Speaker 3>even if it's a placebo, but even if it's a

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<v Speaker 3>real treatment, and you hear about some negative side effects,

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<v Speaker 3>that you may experience those side effects, maybe because the

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<v Speaker 3>drugs causing it, but the no cbo effect would because

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<v Speaker 3>of this sort of mind body situation where you are

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<v Speaker 3>thinking about you have a negative expectancy, and that produces

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<v Speaker 3>the symptoms that we call the no cibo effect.

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<v Speaker 2>So this to me shows pretty clearly how powerful our

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<v Speaker 2>minds are and how we can be I mean, some

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<v Speaker 2>of us suffer from how closely Is this related to

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<v Speaker 2>just people who are generally more anxious than other people.

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<v Speaker 2>I don't know if there's been a study done, is

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<v Speaker 2>there a correlation there.

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<v Speaker 3>Well, there's been a lot of search for who is

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<v Speaker 3>the placebo responder, who is a no CIBO responder, And

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<v Speaker 3>I would say, I'm sure that there's their variabilities and

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<v Speaker 3>this sort of thing. But I think let me give

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<v Speaker 3>an example of what you could consider a no CBO

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<v Speaker 3>effect in a sense, Like an example of this would

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<v Speaker 3>be if you are exercising. You know, it's hard for

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<v Speaker 3>people sometimes they're working out, and if they're staring at

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<v Speaker 3>the clock, you know, waiting for it to be over,

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<v Speaker 3>it's much more painful than if you distract yourself. If

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<v Speaker 3>you're paying attention to a movie that's very engaging, the

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<v Speaker 3>pain seems like it's less than it would otherwise be,

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<v Speaker 3>even though you're experiencing the exact same sort of physiological challenge.

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<v Speaker 3>So our mind has an effect, you know, depending on

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<v Speaker 3>whether we're focusing on the pain.

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<v Speaker 2>You know, it's funny. I probably must be the exception

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<v Speaker 2>to the rule because when I work out and I'm

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<v Speaker 2>an elliptical guys, you stop eventually running and pounding knees

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<v Speaker 2>and ankles, and you get to the elliptical, which is

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<v Speaker 2>a great machine. I love the mathematics of the elliptical

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<v Speaker 2>because I don't know if you're an elliptical guy yourself,

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<v Speaker 2>but I.

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<v Speaker 3>Have used them quite a bit. I'm similarly to you.

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<v Speaker 3>No more running and all stationary bike, ellipticals, that kind

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<v Speaker 3>of stuff.

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<v Speaker 2>That's right. So, but but what I try to do is, Okay,

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<v Speaker 2>what's my projection. I've gone, you know, ten minutes here,

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<v Speaker 2>I'm gonna go twenty five, I'm gonna go thirty and

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<v Speaker 2>when I change and I move the resistance up or whatever. Okay,

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<v Speaker 2>how many? How many can I do more calories during

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<v Speaker 2>this five minute period? All of that, and it's my

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<v Speaker 2>mind stays active. I don't, you know, I don't put

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<v Speaker 2>your plugs in. I don't. I don't watch a movie,

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<v Speaker 2>you know, just the gym that I work out, and

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<v Speaker 2>it's a small gym, and there's no there's no TVs,

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<v Speaker 2>there's no movies. So I keep my mind active, which

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<v Speaker 2>helps the time go more quickly. But I do it

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<v Speaker 2>by doing mental mathematical gymnastics, which.

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<v Speaker 3>Yeah, and you're but your your focus then is on

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<v Speaker 3>the mental mathematical gymnastics, right, not on the pain itself.

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<v Speaker 3>You're and in fact, you're you're kind of almost wanting

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<v Speaker 3>to put yourself through more pain to achieve something. It's

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<v Speaker 3>like a runner, who's how do they, you know, keep going? Well,

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<v Speaker 3>they have this goal in mind and their mind is

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<v Speaker 3>focused on this and there it doesn't you know, the

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<v Speaker 3>example of going and not thinking about it all, Like

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<v Speaker 3>you know, a movie is one way to distract yourself

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<v Speaker 3>or at least turn your attention edit to a different way.

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<v Speaker 2>Yeah, yeah, well, look, it's interesting. I didn't I had

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<v Speaker 2>never heard of the nosibo effect. Based upon my conversation

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<v Speaker 2>with you, this is an effect that's not new. It's

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<v Speaker 2>been apparently around for a while, but this is the

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<v Speaker 2>first big article that I've ever read on it. And

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<v Speaker 2>you were quoted prominently in the Washington Post, and you've

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<v Speaker 2>explained it really well for me and for my audience,

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<v Speaker 2>and so thank you very much. And it's always great

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<v Speaker 2>to reconnect with Entercot College, which has the best in

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<v Speaker 2>addition to the best landscape and views of the Atlantic Ocean,

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<v Speaker 2>it also has the single best college student cafeteria, and

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<v Speaker 2>I've been to a lot of them.

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<v Speaker 3>Of any truly astounding.

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<v Speaker 2>Yes, and that, of course that is the part of

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<v Speaker 2>the legacy of doctor Wiley.

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<v Speaker 3>Absolutely a wonderful person. Yes, absolutely, yeah.

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<v Speaker 2>Well I look, next time i'm up that way, I'll stop.

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<v Speaker 3>I'll look for you. I'll make a point to shake

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<v Speaker 3>your hand, come up to you. Thank you very much

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<v Speaker 3>for I had.

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<v Speaker 2>An uncle named John Kelly, so we may somehow be

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<v Speaker 2>related to you.

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<v Speaker 3>By the way, I think everyone has an uncle named

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<v Speaker 3>John Kelly.

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<v Speaker 2>That's true. In this neck of the woods, it's fairly common.

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<v Speaker 3>Absolutely.

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<v Speaker 2>All right, thank you so much, professor.

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<v Speaker 3>You're welcome. Thank you.

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<v Speaker 2>I have a great night. Okay, So we were talking

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<v Speaker 2>about the no seeble effect. Well we're going to kind

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<v Speaker 2>of stay in the in the mind a little bit.

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<v Speaker 2>We're going to talk with Richard Sema. He's a neuroscientist.

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<v Speaker 2>We're getting pretty pretty psychological tonight here, a neuroscientist turned

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<v Speaker 2>science journalist who writes the Brain Matters column for the

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<v Speaker 2>Washington Post. So we're sticking with the Washington Post tonight,

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<v Speaker 2>and he's going to talk about intellectual humility is for

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<v Speaker 2>learning and getting along with others. I like that. We'll

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<v Speaker 2>talk to him right after this quick break here on Nightside.

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<v Speaker 1>Now back to Dan Ray live from the Window World

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<v Speaker 1>Nightside Studios. I'm WBZ News Radio.

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<v Speaker 2>Okay, so we talked about the no Seebele effect with

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<v Speaker 2>Professor John Kelly of Endicott College. We now are delighted

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<v Speaker 2>to welcome to the Nightside microphone Richard Seema. He's a

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<v Speaker 2>neuroscientist turned science journalist who writes the Brain Matters column

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<v Speaker 2>for The Washington Post. And intellectual humility is good for

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<v Speaker 2>learning and getting along with others. I don't think anyone

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<v Speaker 2>would argue with that, but let's give it a shot. Hi, Hi, Richard,

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<v Speaker 2>how are you tonight?

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<v Speaker 4>Doing well?

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<v Speaker 5>How are you?

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<v Speaker 2>I'm doing great. So intellectual humility, it sounds like a

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<v Speaker 2>good thing to have, and I think it is. I

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<v Speaker 2>read this column. Explain to us how you get it?

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<v Speaker 2>What percentages of people have any of it? And to

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<v Speaker 2>have some of it? How do you keep it in

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<v Speaker 2>this day and age.

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<v Speaker 4>Yeah, I mean, it's basically the acknowledgment that you know,

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<v Speaker 4>no one, including ourselves, knows everything. We have limits to

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<v Speaker 4>our knowledge or even our deepest hell beliefs can be valuable.

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<v Speaker 5>And just being.

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<v Speaker 4>Open to the fact that you know other people might

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<v Speaker 4>know some things that you don't or that things that

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<v Speaker 4>you believe maybe wrong. I think it's hard to.

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<v Speaker 2>You mean both you mean that both you and I

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<v Speaker 2>are are fallible.

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<v Speaker 4>Yeah, it's unfortunate. It's unfortunate, you know, But maybe I'm

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<v Speaker 4>wrong about that. Maybe you aren't valuable, very very likely.

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<v Speaker 2>Yeah, here's my ideal, Richard. I get to do a

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<v Speaker 2>talk show four five nights away, four hours a night,

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<v Speaker 2>and when I make a mistake on the show, I

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<v Speaker 2>go out of my way fact particularly a factual mistake.

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<v Speaker 2>I go out and to acknowledge it. I think that's

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<v Speaker 2>really healthy.

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<v Speaker 4>Yeah, I agree, you know.

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<v Speaker 2>I just think that it's a good idea. It's tougher,

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<v Speaker 2>I think when you're in personal relationships. So let's let's

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<v Speaker 2>talk about, you know, factual fallibility and then which is

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<v Speaker 2>pretty fine if you know, if you mentioned to me

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<v Speaker 2>or I mentioned to you that that I'm delighted that

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<v Speaker 2>we have forty eight states, and I have forgotten about

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<v Speaker 2>the last time I look it up, it's easier to say,

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<v Speaker 2>you know, Richie, you were right, I forgot. But what

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<v Speaker 2>do you do? How do you develop this when you're

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<v Speaker 2>in a contentious conversation. If idea, say about politics, or

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<v Speaker 2>maybe a personal matter with a member of your family.

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<v Speaker 2>How how how do you back out of it gracefully?

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<v Speaker 4>What's the best I think? Yeah, I spoke with a

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<v Speaker 4>bunch of experts who study intellectual humility, and you know,

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<v Speaker 4>they told me that basically, it's it's it's helpful because

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<v Speaker 4>it keeps you open to other people's perspectives. You're more

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<v Speaker 4>likely to be empathetic to the fact that others have

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<v Speaker 4>maybe different values or different things that you know they

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<v Speaker 4>find important to believe in. And yeah, this topic of

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<v Speaker 4>you know, what happens in a politically contentious environment or conversation,

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<v Speaker 4>which is very common these days, is like part of

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<v Speaker 4>it is keeping in mind what your goal is for

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<v Speaker 4>this conversation, Like is it about proving yourself right and

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<v Speaker 4>you know, dominating another person in conversation or is it like, oh,

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<v Speaker 4>you know, you're a family member that I still care about,

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<v Speaker 4>even if we don't see eye to eye on any

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<v Speaker 4>like something that's important to both of us. But you know,

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<v Speaker 4>I think what intellectual humility can give us is you

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<v Speaker 4>don't go into a conversation like already you know, you know,

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<v Speaker 4>set against someone like you you may believe you're right

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<v Speaker 4>and you may have many reasons or any really good reasons,

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<v Speaker 4>but you know you can, you know, be open to

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<v Speaker 4>that there's something that you might miss. It doesn't mean

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<v Speaker 4>you have to change your mind, but means you have

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<v Speaker 4>to at least give them an opportunity to not you know,

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<v Speaker 4>just come in like swinging with all your rhetoric arguments.

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<v Speaker 2>Yeah, commit commit like and there's dare I say, like

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<v Speaker 2>Hal Colgan?

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<v Speaker 4>Yeah, well I guess for Cogan that's your job and

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<v Speaker 4>you can do it in that context. But yeah, like

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<v Speaker 4>you know, take a moment where like what what do

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<v Speaker 4>you want out of this? Like, you know, and.

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<v Speaker 2>That Richard, you sound like a really reasonable guy. I

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<v Speaker 2>like to think you're fairly reasonable, but you sound much

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<v Speaker 2>more reasonable than do you actually you the column, the

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<v Speaker 2>article that you wrote was fascinating. Do you have you

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<v Speaker 2>adopted that in your own life? I mean, and I'm

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<v Speaker 2>not trying to be a wise guy when I asked.

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<v Speaker 6>That question, No, no, no, I think you've got to come.

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<v Speaker 2>To something like that. Naturally, don't you would you agree

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<v Speaker 2>or no?

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<v Speaker 1>Well?

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<v Speaker 4>I think what's interesting is the research shows that yeah,

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<v Speaker 4>you know, people are on a spectrum of how likely

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<v Speaker 4>there are to be intill actually humble, but for different topics,

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<v Speaker 4>like if you're looking at religion versus science, or you know,

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<v Speaker 4>culture like best sports team. You know, people vary, right,

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<v Speaker 4>Like some things, it's very easy to you know, acknowledge that,

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<v Speaker 4>you know, the Boston Red Sox are, you know, like

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<v Speaker 4>they're great, but maybe they're not the best. And but

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<v Speaker 4>that's harder for other people knowledge. I know, I know,

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<v Speaker 4>I know, I did no, no, no. But but that's

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<v Speaker 4>the thing, right, It's like there's certain places that we

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<v Speaker 4>you know, maybe more susceptible to you know, not being

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<v Speaker 4>open to other perspectives, but you know, even just keeping

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<v Speaker 4>like the door is slightly cracked open.

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<v Speaker 2>You know what I love. I love the piece, but

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<v Speaker 2>I loved the paragraph. And you probably can anticipate what

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<v Speaker 2>I'm going to say to you. We're talking about it.

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<v Speaker 2>A study in twenty nineteen of almost what almost twelve

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<v Speaker 2>hundred subjects and one of the experiments I'm quoting from

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<v Speaker 2>your column here so and acknowledging you had. One experiment

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<v Speaker 2>asked participants to rake their familiarities with pieces of general knowledge,

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<v Speaker 2>for example Napoleon. Crucially, however, in the experiment they also

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<v Speaker 2>mixed in fictitious items, for example, Queen Shattuck Murphy's last ride. Yeah,

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<v Speaker 2>so they were people old Murphy's last ride. I learned

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<v Speaker 2>about that in the seventh grade. That's that's brilliant. And

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<v Speaker 2>so there were people who actually were claiming that they

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<v Speaker 2>were familiar with, you know, Queen Shaddock who never existed.

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<v Speaker 4>That is not yeah person, yeah and no, And like

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<v Speaker 4>the study basically was fine name that, Yeah, you are

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<v Speaker 4>not only are people who rated to be were rated

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<v Speaker 4>to be more intellectually humble, like more knowledgeable about real things,

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<v Speaker 4>but they were less likely to overclaim that they knew

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<v Speaker 4>something that you know is fictitious. And you know, I

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<v Speaker 4>think that's important because it also opens us to learning

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<v Speaker 4>about new things or more curious, but also maybe more

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<v Speaker 4>discerning about how you process information. Just keeping yourself open

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<v Speaker 4>to yeah, the fact that you don't know everything. You'll

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<v Speaker 4>always encounter new stuff, and you know, it's it's up

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<v Speaker 4>to us to be like mindful about you know, what

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<v Speaker 4>we know and what we believe.

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<v Speaker 2>I think that there was a quote from Albert Einstein,

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<v Speaker 2>and I don't know if this was a neat quote

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<v Speaker 2>or if this was a real quote, but it sounded

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<v Speaker 2>it sounded pretty good Ifstein reportedly said that he wasn't

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<v Speaker 2>especially intelligent, but he had an unending curiosity, which I thought,

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<v Speaker 2>is even if it's made up, is a It's a

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<v Speaker 2>great way to look at life, be a little humble

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<v Speaker 2>if Albert Einstein can say something like that. He said,

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<v Speaker 2>and I think curiosity is the uh is Now again

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<v Speaker 2>I'm little biased to because I happen to consider me

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<v Speaker 2>I'm really curious. That is a sign of intelligence, not

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<v Speaker 2>necessarily a high IQ per se. But I think people

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<v Speaker 2>who are intellectually curious are more interesting, uh and they

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<v Speaker 2>have a wider breath of knowledge. I mean, when you

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<v Speaker 2>sit on an airplane, Richard, and I sit next to you,

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<v Speaker 2>do you, like just put your headphones on or do

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<v Speaker 2>you start a conversation? Because I'm the conversation guy, I'm

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<v Speaker 2>going to say, hey, what's going on?

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<v Speaker 4>Honestly depends if I'm to be honest, Like sometimes I

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<v Speaker 4>just need my own alone time. But yeah, Like, I mean,

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<v Speaker 4>that's the beauty of such a dast world as ours,

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<v Speaker 4>with so many different people with different experiences, right, Like

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<v Speaker 4>everyone can teach you something and you never know what

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<v Speaker 4>might change your life just from a random conversation with

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<v Speaker 4>your you know, neighbor.

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<v Speaker 2>Because I believe this. You know, everybody talks about what

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<v Speaker 2>what's your IQ and what's the IQ you're intelligent, emotion

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<v Speaker 2>and all that. I think we have like twenty different

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<v Speaker 2>areas of intelligence artistic, mechanical, you know, agility, intellectual, all

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<v Speaker 2>of that. I just think that this whole thing about

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<v Speaker 2>measuring someone's IQ and saying, okay, you're one oh five

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<v Speaker 2>or your T one twenty five. You see this with presidents,

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<v Speaker 2>who was the smartest president and all of that.

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<v Speaker 4>Yeah, I just think that's.

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<v Speaker 2>A huge waste of time because I have no mechanical ability.

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<v Speaker 2>I have no musical ability, I have no artistic ability.

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<v Speaker 2>I know my limitations. Okay, I got a couple of

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<v Speaker 2>areas where I'm pretty good, but that's it. That's it.

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<v Speaker 4>Yeah, But don't don't overlimit yourself either, Like you're also

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<v Speaker 4>a capacity. You have capacity to learn and tick up

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<v Speaker 4>new things. And even if you don't become the best

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<v Speaker 4>at you know, being a woodworker or an artist, you

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<v Speaker 4>can still gain something from the active trying it out,

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<v Speaker 4>like enjoying the process.

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<v Speaker 6>And you know, learning.

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<v Speaker 4>So don't get yourself out either.

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<v Speaker 6>I would say I.

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<v Speaker 2>Also think I get what you're saying, yeah, but I

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<v Speaker 2>also think that a lot of us who are overly

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<v Speaker 2>formally educated. I'm a lawyer as well as a practicing

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<v Speaker 2>journalist for many years, and a lot of my colleagues

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<v Speaker 2>I sense that they look down at the blue collar person.

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<v Speaker 2>I'm somebody who really believes in vocational schools. Not everybody

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<v Speaker 2>is wired to do four years as in college. And

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<v Speaker 2>that is also the IQ thing going on there, and again,

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<v Speaker 2>I'd probably love to talk to you about it more

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<v Speaker 2>because I think that we need to value different people

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<v Speaker 2>for different things. I mean, when you need a plumber,

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<v Speaker 2>you need a plumber. Don't tell me you don't need

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<v Speaker 2>an archaeology major. You need a plumber.

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<v Speaker 4>And I think that's that's the strength of the society

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<v Speaker 4>will live in right that we have, you know, such

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<v Speaker 4>diversity of talents, but also ways of hopefully training them

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<v Speaker 4>to get the best that we can, so we could

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<v Speaker 4>rely on each other to cover stuff that I don't

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<v Speaker 4>know how to do or I don't know anything about, right,

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<v Speaker 4>And that's you know, something that we need to keep

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<v Speaker 4>in mind, I think, and being intellectually humble makes it

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<v Speaker 4>more easy.

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<v Speaker 5>To accept that.

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<v Speaker 4>Oh yeah, I don't know how to you know, like

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<v Speaker 4>stop my toilet from overflowing. I need someone else who

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<v Speaker 4>can do this faster, keeper and all that.

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<v Speaker 2>Yeah, you might have two or three degrees the other thing.

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<v Speaker 2>And I'm going to be real quick with you that

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<v Speaker 2>I'm a big believer in and I'm so excited to

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<v Speaker 2>talk to you because this is an area that I've

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<v Speaker 2>never spent a lot of time on my show. I

404
00:21:32.799 --> 00:21:35.000
<v Speaker 2>do a lot of politics and current events, but this

405
00:21:35.039 --> 00:21:38.000
<v Speaker 2>is stuff that really gets me going. I am a

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<v Speaker 2>firm believer in going back to that airplane ride. I'm

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<v Speaker 2>a firm believer with the six degrees of separation that

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<v Speaker 2>if you and I talk, you know, on an hour flight, somehow,

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<v Speaker 2>some way through six degrees of separation, we'll have some connection.

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<v Speaker 6>Yeah.

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<v Speaker 4>Yeah, there's there's some interesting research. I think, like when

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<v Speaker 4>people are modeling social networks, basically you know how people

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<v Speaker 4>arennected with each other, and I think one of the

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<v Speaker 4>theories is like this. I think it's called the small

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<v Speaker 4>world hypothesis, where you know, you have a few people

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<v Speaker 4>who just know a lot of people, and then you

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<v Speaker 4>know it's like highways in across the country, you have

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<v Speaker 4>these main highways where you can connect and then you

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<v Speaker 4>find smaller connections, like as you get closer and closer.

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<v Speaker 4>So I'm sure if we talked like we would I

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<v Speaker 4>went to school in Boston. I shouldn't say that because

422
00:22:26.440 --> 00:22:28.400
<v Speaker 4>I went to Harvard and people would hate me for

423
00:22:28.480 --> 00:22:35.079
<v Speaker 4>saying near Boston. But like, I'm sure you like really okay,

424
00:22:35.119 --> 00:22:43.200
<v Speaker 4>so maybe it's it's I know what Harvard is, Richard.

425
00:22:43.240 --> 00:22:48.359
<v Speaker 2>I really enjoyed this conversation, and I'm sure that i'd

426
00:22:48.400 --> 00:22:50.480
<v Speaker 2>love to have you back that I'm going to start

427
00:22:50.519 --> 00:22:51.079
<v Speaker 2>to follow you st.

428
00:22:51.279 --> 00:22:52.960
<v Speaker 4>Yeah, I love this is a lot of fun.

429
00:22:53.440 --> 00:22:56.079
<v Speaker 2>Thank you very much. It was really enjoyable. We'll talk again,

430
00:22:56.680 --> 00:23:02.279
<v Speaker 2>Richard Seema uh brain matter in the Washington Post. Check

431
00:23:02.319 --> 00:23:05.359
<v Speaker 2>them out and there was no such thing as Queen

432
00:23:05.400 --> 00:23:09.400
<v Speaker 2>Shattuck or Murphy's last Ride. Thanks so much, Richard. We

433
00:23:09.480 --> 00:23:10.680
<v Speaker 2>got to take a break for the news at the

434
00:23:10.680 --> 00:23:13.680
<v Speaker 2>bottom of the hour. We always do that. You know,

435
00:23:13.720 --> 00:23:15.440
<v Speaker 2>when I get a great guest like Richard, I go

436
00:23:15.480 --> 00:23:17.640
<v Speaker 2>a little longer. I apologize. But we're gonna have another

437
00:23:17.680 --> 00:23:20.480
<v Speaker 2>great guest coming up, Nicol Maley. He's gonna tell us

438
00:23:20.519 --> 00:23:23.799
<v Speaker 2>about all the varieties of food at the Big E

439
00:23:24.359 --> 00:23:28.400
<v Speaker 2>got to find out how much weight he gained, and

440
00:23:28.839 --> 00:23:31.759
<v Speaker 2>we will talk with him right after the break here

441
00:23:31.880 --> 00:23:33.359
<v Speaker 2>on Nightside and right after.

442
00:23:33.200 --> 00:23:37.880
<v Speaker 1>The news You're on night Side with Dan Ray on WBZ,

443
00:23:38.279 --> 00:23:39.519
<v Speaker 1>Boston's news radio.

444
00:23:40.279 --> 00:23:42.720
<v Speaker 2>This is the time of year, as I think everyone

445
00:23:42.839 --> 00:23:46.079
<v Speaker 2>knows when they have the Big E, the Big Exhibition,

446
00:23:46.160 --> 00:23:49.079
<v Speaker 2>I guess is what it stands for out in Springfield.

447
00:23:49.160 --> 00:23:51.319
<v Speaker 2>I think it might be West Springfield technically, if it

448
00:23:51.319 --> 00:23:53.519
<v Speaker 2>doesn't matter. I think everyone knows what I'm talking about.

449
00:23:53.759 --> 00:23:56.000
<v Speaker 2>And one of the big attractions of the Big E

450
00:23:56.400 --> 00:24:01.039
<v Speaker 2>is food, lots of food, different type food. I'm delighted

451
00:24:01.039 --> 00:24:05.960
<v Speaker 2>to welcome Nick O'Malley, who's with Mass Live. And Nick,

452
00:24:06.000 --> 00:24:09.279
<v Speaker 2>you apparently ate your way through the Big EE this year.

453
00:24:10.319 --> 00:24:12.880
<v Speaker 2>How many different foods did you sample?

454
00:24:14.279 --> 00:24:17.599
<v Speaker 6>Well, on this most recent trip, I tried thirteen different

455
00:24:17.720 --> 00:24:19.920
<v Speaker 6>food There were a couple of drinks mixed in, so

456
00:24:20.160 --> 00:24:22.720
<v Speaker 6>you used to say eleven thirteen, but a whole lot.

457
00:24:23.920 --> 00:24:27.640
<v Speaker 2>Well, I'm just looking at your article here out of

458
00:24:27.680 --> 00:24:31.640
<v Speaker 2>Mass Live, and is the Biggie? Is it West Springfield

459
00:24:31.680 --> 00:24:32.759
<v Speaker 2>or Springfield proper?

460
00:24:33.279 --> 00:24:35.039
<v Speaker 6>It is West Springfield, Okay, it's good.

461
00:24:35.039 --> 00:24:37.759
<v Speaker 2>It's somebody that was buried in my mind, okay, and

462
00:24:37.799 --> 00:24:40.240
<v Speaker 2>it's been around for a long time. So you got

463
00:24:40.519 --> 00:24:44.640
<v Speaker 2>the quad Father burger. Why would you even try to

464
00:24:44.640 --> 00:24:47.599
<v Speaker 2>eat that? I mean it's four burgers and bacon and

465
00:24:47.640 --> 00:24:48.920
<v Speaker 2>all sorts of other stuff.

466
00:24:50.279 --> 00:24:52.480
<v Speaker 6>I mean it's kind of like a mount everest of

467
00:24:52.559 --> 00:24:55.519
<v Speaker 6>meat and cheese and buns. You gotta conquer it because

468
00:24:55.519 --> 00:24:56.000
<v Speaker 6>it's there.

469
00:24:56.400 --> 00:24:59.400
<v Speaker 2>Ye apsolutely you know something that is. That's a clear explanation.

470
00:24:59.519 --> 00:25:01.759
<v Speaker 2>And I can understand that. Did you get through the

471
00:25:01.799 --> 00:25:02.200
<v Speaker 2>whole thing?

472
00:25:03.319 --> 00:25:05.319
<v Speaker 6>Not quite through the whole thing. There was a lot

473
00:25:05.359 --> 00:25:07.839
<v Speaker 6>of foods in one day and a lot of steps

474
00:25:07.839 --> 00:25:09.680
<v Speaker 6>to get through, so you got to try and balance

475
00:25:09.720 --> 00:25:11.640
<v Speaker 6>it so they're not you know, taking me out on

476
00:25:11.680 --> 00:25:12.920
<v Speaker 6>a forklift when I'm done.

477
00:25:13.319 --> 00:25:15.640
<v Speaker 2>No, no, no, absolutely. I mean you know, if you're

478
00:25:15.720 --> 00:25:18.119
<v Speaker 2>if you're a baseball pitcher and you just throw fastballs

479
00:25:18.119 --> 00:25:20.079
<v Speaker 2>all day, you know by the third or fourth inning,

480
00:25:20.119 --> 00:25:22.480
<v Speaker 2>they're gonna they're gonna be on you. You got to mix

481
00:25:22.519 --> 00:25:24.960
<v Speaker 2>it up. So you mixed it up a lot. The

482
00:25:25.039 --> 00:25:28.960
<v Speaker 2>Freedo pie that's fifteen dollars. I hope you were on

483
00:25:29.000 --> 00:25:30.480
<v Speaker 2>an expense account here, by the way.

484
00:25:30.359 --> 00:25:33.519
<v Speaker 6>I hope we all make it work.

485
00:25:33.960 --> 00:25:36.680
<v Speaker 2>Listen, Yeah, okay, we don't have to know for tax

486
00:25:36.720 --> 00:25:39.480
<v Speaker 2>purposes the irs might be listening. You know what I'm saying. Listen,

487
00:25:39.559 --> 00:25:42.119
<v Speaker 2>let me go past that. I would draw that question. Okay,

488
00:25:42.599 --> 00:25:46.599
<v Speaker 2>there was one here that the stick this was, This

489
00:25:46.680 --> 00:25:49.480
<v Speaker 2>is one that I would be interested in. A stick

490
00:25:49.920 --> 00:25:55.720
<v Speaker 2>of s'mores smoked bacon candy. You couldn't put four words

491
00:25:55.759 --> 00:25:59.799
<v Speaker 2>that would that would make me my mouth water? Well

492
00:26:00.039 --> 00:26:03.799
<v Speaker 2>for better words than these moores smoked bacon candy. How

493
00:26:03.839 --> 00:26:04.480
<v Speaker 2>good was that?

494
00:26:05.400 --> 00:26:08.680
<v Speaker 6>It was really good? Listen, I'm a big fan of bacon.

495
00:26:08.880 --> 00:26:12.160
<v Speaker 6>I'm a big fan of candying that bacon and adding

496
00:26:12.160 --> 00:26:15.680
<v Speaker 6>a little extra, with a little extra, the marshmallow, that chocolate,

497
00:26:15.720 --> 00:26:20.359
<v Speaker 6>the Graham cracker. It's like all smoky and sweet, delicious.

498
00:26:20.319 --> 00:26:23.839
<v Speaker 2>Heaven, heaven, heaven. Okay, let's look at a couple of

499
00:26:23.839 --> 00:26:29.079
<v Speaker 2>others here. Mashed potato fries. Why would why would you

500
00:26:29.119 --> 00:26:33.039
<v Speaker 2>need mashed potato fries? What's regular fries are? Okay? What

501
00:26:33.240 --> 00:26:36.960
<v Speaker 2>you find what's the advantage of mashing the potato up

502
00:26:36.960 --> 00:26:37.799
<v Speaker 2>and then making.

503
00:26:37.519 --> 00:26:39.279
<v Speaker 1>A fry fry? You know?

504
00:26:40.599 --> 00:26:43.160
<v Speaker 6>Looking around at all these like crazy foods I'm looking

505
00:26:43.160 --> 00:26:46.519
<v Speaker 6>at like poutine and chili cheese fries and all these

506
00:26:46.559 --> 00:26:49.279
<v Speaker 6>crazy things, and really it's just a lot of like

507
00:26:49.319 --> 00:26:52.920
<v Speaker 6>stuff covering up the potato. And that's what that's what

508
00:26:53.000 --> 00:26:55.480
<v Speaker 6>this does. It takes a crazy topping something that you

509
00:26:55.519 --> 00:26:58.839
<v Speaker 6>wouldn't think of. It's creative and it's fun, and it

510
00:26:58.880 --> 00:27:01.839
<v Speaker 6>doubles up and celebrate. It's a potato, really doubles down

511
00:27:01.880 --> 00:27:02.640
<v Speaker 6>on the flavor.

512
00:27:03.240 --> 00:27:07.279
<v Speaker 2>I like that one. Here's one that's interesting, The Big Sexy. Now, people,

513
00:27:07.480 --> 00:27:09.279
<v Speaker 2>the Big Ee is still open for a while. So

514
00:27:09.359 --> 00:27:12.759
<v Speaker 2>if you're doing nothing this weekend and you want to,

515
00:27:12.839 --> 00:27:16.079
<v Speaker 2>you know, increase your choleresterol, go to the Bigie and

516
00:27:16.119 --> 00:27:18.519
<v Speaker 2>try any and all of these foods. The Big Sexy

517
00:27:19.079 --> 00:27:22.680
<v Speaker 2>from the Broccoli bar behind the Very Want building. You

518
00:27:22.720 --> 00:27:25.880
<v Speaker 2>give people exact locations, which is don't you just put

519
00:27:25.920 --> 00:27:29.480
<v Speaker 2>it in your GPS and you're there. It's fifteen dollars

520
00:27:29.519 --> 00:27:32.799
<v Speaker 2>for small in eighteen for large. Why would you do

521
00:27:32.839 --> 00:27:35.480
<v Speaker 2>with small when the large is only three dollars more right?

522
00:27:36.160 --> 00:27:38.680
<v Speaker 6>That was my exact thought. I mean it's called the

523
00:27:38.680 --> 00:27:40.920
<v Speaker 6>Big Sexy. I'm not going to get the small version

524
00:27:40.960 --> 00:27:43.599
<v Speaker 6>of it. I mean, there's a very nice man dressed

525
00:27:43.680 --> 00:27:45.720
<v Speaker 6>up in a broccoli costume making it for me. I

526
00:27:45.720 --> 00:27:46.599
<v Speaker 6>gotta go all out.

527
00:27:47.119 --> 00:27:51.119
<v Speaker 2>Oh my god, absolutely, what was the faith. What was

528
00:27:51.160 --> 00:27:53.640
<v Speaker 2>the best thing that you would recommend here? You got

529
00:27:53.640 --> 00:27:58.119
<v Speaker 2>some a cup of pretzel beer with a self car

530
00:27:58.359 --> 00:28:03.279
<v Speaker 2>with a salt caramel rim what what is the top

531
00:28:03.319 --> 00:28:06.359
<v Speaker 2>thing you would recommend? Would it be the quad Father?

532
00:28:07.960 --> 00:28:10.559
<v Speaker 6>The quad Father was a fun experience, It wasn't the

533
00:28:10.599 --> 00:28:15.079
<v Speaker 6>best tasting thing. And I go every year, so there's

534
00:28:15.119 --> 00:28:17.759
<v Speaker 6>stuff that returns that I think is like gonna be

535
00:28:17.799 --> 00:28:19.720
<v Speaker 6>a better pick for most folks. Like, one of my

536
00:28:19.759 --> 00:28:23.839
<v Speaker 6>favorite things to recommend is something called a barbecue Sunday,

537
00:28:24.400 --> 00:28:27.920
<v Speaker 6>which isn't ice cream. It's all a bunch of like

538
00:28:28.160 --> 00:28:32.119
<v Speaker 6>barbecue fixings of a corn bread, big beans, coal slaw,

539
00:28:32.279 --> 00:28:35.039
<v Speaker 6>mashed potatoes, and it's sort of piled up on like

540
00:28:35.079 --> 00:28:37.839
<v Speaker 6>a parfe and they put a cherry tomato on top

541
00:28:37.920 --> 00:28:40.559
<v Speaker 6>of the mashed potato whiped cream, so it looks like

542
00:28:40.599 --> 00:28:43.119
<v Speaker 6>a Sunday. But it's super fun to eat.

543
00:28:43.480 --> 00:28:46.680
<v Speaker 2>Sure, by the way. It interesting enough. And with some

544
00:28:46.720 --> 00:28:53.720
<v Speaker 2>of the finest French restaurants in Paris, you there, and

545
00:28:54.160 --> 00:28:56.519
<v Speaker 2>then there was one that you had here which I

546
00:28:56.559 --> 00:29:01.160
<v Speaker 2>don't think you liked particularly, was this the the deep

547
00:29:01.279 --> 00:29:03.880
<v Speaker 2>fried devil Eggs, in which.

548
00:29:03.720 --> 00:29:05.680
<v Speaker 6>Oh, I'm a big fan of the deep fried devil

549
00:29:05.720 --> 00:29:07.039
<v Speaker 6>egg you did.

550
00:29:07.079 --> 00:29:09.079
<v Speaker 2>Okay, then what is the one here says the sensation

551
00:29:09.200 --> 00:29:11.640
<v Speaker 2>of carrying a bowling ball of burger and eggs in

552
00:29:11.680 --> 00:29:13.200
<v Speaker 2>your stomach is not a great one.

553
00:29:14.240 --> 00:29:19.319
<v Speaker 6>I mean, listen, I I fully endorse ordering a nice

554
00:29:19.480 --> 00:29:22.559
<v Speaker 6>order of deep fried devil eggs. What I don't endorse

555
00:29:22.680 --> 00:29:26.599
<v Speaker 6>is doing that immediately after eating the quad Father, because

556
00:29:26.599 --> 00:29:27.440
<v Speaker 6>that's what I did.

557
00:29:27.519 --> 00:29:30.200
<v Speaker 2>You have to digest something before you can fully enjoy

558
00:29:30.279 --> 00:29:31.880
<v Speaker 2>the other. I get that. I get that.

559
00:29:32.119 --> 00:29:36.640
<v Speaker 6>Yes, I was treading the correct path. I just wasn't

560
00:29:36.680 --> 00:29:38.039
<v Speaker 6>taking the taking my time.

561
00:29:38.759 --> 00:29:40.960
<v Speaker 2>Yeah, No, well you were. You were out there on

562
00:29:41.000 --> 00:29:42.880
<v Speaker 2>a mission to help all of us, which we have

563
00:29:43.039 --> 00:29:46.839
<v Speaker 2>to respect and frankly acknowledge. And I just want to

564
00:29:46.839 --> 00:29:49.279
<v Speaker 2>thank you for coming. When you weighed yourself a couple

565
00:29:49.319 --> 00:29:52.519
<v Speaker 2>of days later, it's just curious were you able to

566
00:29:53.880 --> 00:29:56.359
<v Speaker 2>you know, did you did you? Did you pick up

567
00:29:56.400 --> 00:29:57.519
<v Speaker 2>a couple of pounds on the.

568
00:29:57.440 --> 00:30:01.160
<v Speaker 6>Scale and maybe, But the news about the big ee

569
00:30:01.160 --> 00:30:03.240
<v Speaker 6>is that everything sort of spread out. I had one

570
00:30:03.240 --> 00:30:05.799
<v Speaker 6>of the GPS trackers on my phone. I ended up

571
00:30:05.799 --> 00:30:08.960
<v Speaker 6>walking five miles that day, so you know, offset the

572
00:30:09.039 --> 00:30:13.480
<v Speaker 6>little bit. Yeah, definitely, eating a lot of spinach the

573
00:30:13.480 --> 00:30:14.200
<v Speaker 6>next day though.

574
00:30:17.480 --> 00:30:19.359
<v Speaker 2>This was a lot of fun and you're great sport,

575
00:30:19.920 --> 00:30:22.640
<v Speaker 2>Nic O'Malley giving us a tour of food tour at

576
00:30:22.640 --> 00:30:24.680
<v Speaker 2>the Big Easy. And of course you can go read

577
00:30:24.680 --> 00:30:27.519
<v Speaker 2>the article. It's it's a very well written and fun

578
00:30:27.599 --> 00:30:32.839
<v Speaker 2>piece and this is one that should be in your your, your, your,

579
00:30:32.880 --> 00:30:35.279
<v Speaker 2>your scrap book of This is a great piece. It

580
00:30:35.319 --> 00:30:39.759
<v Speaker 2>really is. So the biggie in mass Life by Nick O'Malley.

581
00:30:40.079 --> 00:30:42.960
<v Speaker 2>Please check it out, everybody. It's it's fun to talk about,

582
00:30:42.960 --> 00:30:45.160
<v Speaker 2>but it's even more fun to read. Thanks very much, Nick.

583
00:30:45.920 --> 00:30:46.839
<v Speaker 6>Thank you for having me.

584
00:30:47.240 --> 00:30:49.759
<v Speaker 2>All Right, when we get back, we're going to explain

585
00:30:50.240 --> 00:30:54.799
<v Speaker 2>the big story yesterday, the fed Rake cut. The stock

586
00:30:54.839 --> 00:30:57.240
<v Speaker 2>market had a very nice day to day. So we're

587
00:30:57.240 --> 00:31:01.160
<v Speaker 2>going to be talking with Bill Dendy, uh coming back

588
00:31:01.200 --> 00:31:02.960
<v Speaker 2>on the other side, and you're going to be able

589
00:31:03.039 --> 00:31:05.839
<v Speaker 2>to go to work tomorrow and explain the implications of

590
00:31:05.960 --> 00:31:09.359
<v Speaker 2>the big rate the long awaited rate cut with financial

591
00:31:09.400 --> 00:31:12.519
<v Speaker 2>strategist Bill Dendy from Raymond James coming back.

592
00:31:12.440 --> 00:31:16.279
<v Speaker 1>On night Side Now back to Dan ray Live from

593
00:31:16.279 --> 00:31:20.759
<v Speaker 1>the Window World night Side Studios on WBZ News Radio.

594
00:31:21.680 --> 00:31:25.480
<v Speaker 2>Well, yesterday the Fed cut interest rates by a half

595
00:31:25.480 --> 00:31:29.440
<v Speaker 2>a percentage point and with us to explain the implications

596
00:31:29.519 --> 00:31:32.640
<v Speaker 2>of that is Bill Dendy builds a financial strategist with

597
00:31:32.880 --> 00:31:36.640
<v Speaker 2>Raymond James. It was a long time coming, and I

598
00:31:36.680 --> 00:31:40.759
<v Speaker 2>know you're teaching a class tonight, so I'm only going

599
00:31:40.799 --> 00:31:43.079
<v Speaker 2>to keep you about six or seven minutes. Bill Dendy,

600
00:31:43.119 --> 00:31:45.720
<v Speaker 2>Welcome to Nightside in Boston. How are you hey?

601
00:31:45.759 --> 00:31:47.440
<v Speaker 5>It's great to be with you. And it was kind

602
00:31:47.440 --> 00:31:49.440
<v Speaker 5>of like the Fed was teasing us for a long time,

603
00:31:49.519 --> 00:31:52.960
<v Speaker 5>so they're going to lower those rates and finally did

604
00:31:54.119 --> 00:31:56.000
<v Speaker 5>they gave us a lot extra bonus.

605
00:31:56.359 --> 00:31:58.119
<v Speaker 2>Well, the market had a great day to day, I

606
00:31:58.160 --> 00:32:00.680
<v Speaker 2>mean a big day to day, but yes, the day

607
00:32:01.160 --> 00:32:04.079
<v Speaker 2>when the rates were lowered, it wasn't a great day

608
00:32:04.079 --> 00:32:06.880
<v Speaker 2>for the market. Why the delayed reaction today, Let's talk

609
00:32:06.880 --> 00:32:09.839
<v Speaker 2>about that first real quickly. What was this did Did

610
00:32:09.839 --> 00:32:11.680
<v Speaker 2>the traders wake up today and say, you know, they

611
00:32:11.720 --> 00:32:14.480
<v Speaker 2>really did cut the faces points yesterday? Was that what happened?

612
00:32:15.240 --> 00:32:17.319
<v Speaker 5>There was a lot of doubt when they saw a

613
00:32:17.400 --> 00:32:20.480
<v Speaker 5>bigger than expected brake cut, saying what does the SPED

614
00:32:20.599 --> 00:32:23.160
<v Speaker 5>know about the economy that we don't know? And of

615
00:32:23.200 --> 00:32:26.680
<v Speaker 5>course Jerome came out and said none, this is just

616
00:32:27.000 --> 00:32:29.119
<v Speaker 5>based upon our data and the things are good in

617
00:32:29.119 --> 00:32:32.319
<v Speaker 5>the economy, but we've leave inflations under control. And I

618
00:32:32.359 --> 00:32:34.759
<v Speaker 5>think enough people said, well, don't fight the Fed.

619
00:32:35.200 --> 00:32:35.880
<v Speaker 6>They don't lie.

620
00:32:36.119 --> 00:32:38.640
<v Speaker 5>They said they're going to lower rates. They did, and

621
00:32:38.880 --> 00:32:43.319
<v Speaker 5>rates are expected to continue to be lowered unless inflation

622
00:32:43.440 --> 00:32:46.000
<v Speaker 5>should rear back up. We would expect the Fed to

623
00:32:46.039 --> 00:32:48.160
<v Speaker 5>continue to lower rates for the next twelve to twenty

624
00:32:48.240 --> 00:32:51.079
<v Speaker 5>four months. And that's very positive the market. So we

625
00:32:51.160 --> 00:32:52.519
<v Speaker 5>got that boost today.

626
00:32:53.200 --> 00:32:56.359
<v Speaker 2>Yeah, and it Pow sort of looks like a FED chairman.

627
00:32:56.440 --> 00:32:58.839
<v Speaker 2>I mean, I think he does instill confidence in people

628
00:32:58.920 --> 00:33:01.240
<v Speaker 2>no matter what he does. Kind of he's able to

629
00:33:01.240 --> 00:33:06.039
<v Speaker 2>carry it off. You know, he looks, he looks the part.

630
00:33:06.119 --> 00:33:10.880
<v Speaker 2>So the impact for the average person with the rate cut,

631
00:33:10.880 --> 00:33:15.640
<v Speaker 2>what's that going to mean? Obviously hopefully the amount of

632
00:33:15.680 --> 00:33:17.079
<v Speaker 2>money that you're going to have to spend that a

633
00:33:17.119 --> 00:33:18.880
<v Speaker 2>mortgage is going to go down. Give us a couple

634
00:33:18.880 --> 00:33:21.519
<v Speaker 2>of the highlights so people can make it understandable to

635
00:33:22.440 --> 00:33:25.079
<v Speaker 2>the people who are listening tonight who maybe get lost

636
00:33:25.119 --> 00:33:26.359
<v Speaker 2>in some of the terminology.

637
00:33:27.359 --> 00:33:30.400
<v Speaker 5>Well, mortgage rates have already come down about a percent

638
00:33:30.400 --> 00:33:33.119
<v Speaker 5>and a half from their highs just a few months ago,

639
00:33:33.480 --> 00:33:36.480
<v Speaker 5>and so that redooced mortgage rate of a percent and

640
00:33:36.480 --> 00:33:39.079
<v Speaker 5>a half means that if you're buying a four hundred

641
00:33:39.079 --> 00:33:41.720
<v Speaker 5>thousand dollars home, Okay, that may not be enough home

642
00:33:41.759 --> 00:33:44.160
<v Speaker 5>for some folks, but at four hundred thousand dollars home,

643
00:33:44.680 --> 00:33:48.839
<v Speaker 5>you're saving four dollars a month on payments. Well, that's

644
00:33:49.119 --> 00:33:52.960
<v Speaker 5>phenomenal because for a lot of people there's low interest rates,

645
00:33:53.200 --> 00:33:55.359
<v Speaker 5>they can get more home for the dollars. They spent

646
00:33:55.839 --> 00:33:58.720
<v Speaker 5>less money going for the interest, more going for the home.

647
00:33:58.880 --> 00:34:01.079
<v Speaker 5>And so there were a lot of folks who were

648
00:34:01.119 --> 00:34:04.440
<v Speaker 5>sidelined as interest rates were so high that are feeling like, well,

649
00:34:04.480 --> 00:34:07.079
<v Speaker 5>maybe they can now look at getting into the market

650
00:34:07.400 --> 00:34:10.239
<v Speaker 5>and buying that home. Same thing for new and used

651
00:34:10.239 --> 00:34:13.480
<v Speaker 5>cars and credit card debt. It might not come down

652
00:34:13.559 --> 00:34:16.599
<v Speaker 5>real fast. People will probably saved a few dollars a month.

653
00:34:17.000 --> 00:34:19.079
<v Speaker 5>But again this is a sign of things to come,

654
00:34:19.159 --> 00:34:22.559
<v Speaker 5>because the federal really has one cut and stops. They're

655
00:34:22.599 --> 00:34:25.679
<v Speaker 5>going to cut, maybe pauls if inflation comes back, but

656
00:34:25.719 --> 00:34:28.119
<v Speaker 5>the hope is that they continue to cut and we

657
00:34:28.760 --> 00:34:33.719
<v Speaker 5>end up by the end of twenty twenty five being

658
00:34:33.760 --> 00:34:36.239
<v Speaker 5>down about another two percent from where we are today,

659
00:34:36.280 --> 00:34:40.199
<v Speaker 5>and that can make a significant difference for people across

660
00:34:40.239 --> 00:34:41.519
<v Speaker 5>the board now.

661
00:34:41.400 --> 00:34:43.599
<v Speaker 2>As rates come down. Mortgage rates come down, one of

662
00:34:43.639 --> 00:34:46.440
<v Speaker 2>the things that a lot of people who were holding

663
00:34:46.519 --> 00:34:49.199
<v Speaker 2>onto their homes, they wanted to put them on the market,

664
00:34:49.320 --> 00:34:52.559
<v Speaker 2>but they didn't want to trade a really nice mortgage

665
00:34:52.599 --> 00:34:54.440
<v Speaker 2>rate which they might have had six or seven years

666
00:34:54.440 --> 00:34:56.199
<v Speaker 2>ago when it was three and a half percent for

667
00:34:56.280 --> 00:34:59.000
<v Speaker 2>a six and a half percent mortgage. So that means

668
00:34:59.199 --> 00:35:02.000
<v Speaker 2>more more houses are going to come on the market,

669
00:35:02.360 --> 00:35:06.480
<v Speaker 2>which you would think greater supply would lower the cost,

670
00:35:07.000 --> 00:35:09.159
<v Speaker 2>but that's also means more people are going to come

671
00:35:09.159 --> 00:35:12.519
<v Speaker 2>into the market. So you might save on the mortgage rate,

672
00:35:12.880 --> 00:35:15.639
<v Speaker 2>but that four hundred thousand dollars house might get more

673
00:35:15.679 --> 00:35:19.519
<v Speaker 2>expensive in the next month or two as the market

674
00:35:19.519 --> 00:35:20.519
<v Speaker 2>develops right along.

675
00:35:20.920 --> 00:35:24.840
<v Speaker 5>That's an interesting point because what we'll probably see now

676
00:35:24.880 --> 00:35:27.360
<v Speaker 5>persons on their home, they may be buying another home.

677
00:35:27.480 --> 00:35:31.280
<v Speaker 5>So that's a kind of a wash there as far

678
00:35:31.320 --> 00:35:34.000
<v Speaker 5>as they sell, So you've got to make inature house

679
00:35:34.039 --> 00:35:35.880
<v Speaker 5>in the market, but they're buying, so you have another

680
00:35:35.880 --> 00:35:38.800
<v Speaker 5>demand on the market, so they're kind of offsetting. But

681
00:35:38.840 --> 00:35:41.880
<v Speaker 5>the interesting thing is for those who've been waiting that

682
00:35:41.960 --> 00:35:45.360
<v Speaker 5>suddenly start going shopping to buy their new houses. All

683
00:35:45.480 --> 00:35:48.960
<v Speaker 5>that excitement to go ahead and take advantage of this

684
00:35:49.320 --> 00:35:51.920
<v Speaker 5>might actually cause the return of the thing that the

685
00:35:51.960 --> 00:35:54.880
<v Speaker 5>Fed was all about getting rid of. That's inflation, because

686
00:35:55.000 --> 00:35:59.519
<v Speaker 5>all that extra demand can be inflationary if you had to.

687
00:36:00.480 --> 00:36:04.760
<v Speaker 2>Everybody tries to point back and say, well, were where

688
00:36:04.800 --> 00:36:08.280
<v Speaker 2>were we in this the situation we find ourselves in

689
00:36:08.360 --> 00:36:14.039
<v Speaker 2>with the rates coming down and the housing market probably

690
00:36:14.079 --> 00:36:19.559
<v Speaker 2>loosening up. When did we last experience this sort of

691
00:36:19.599 --> 00:36:22.760
<v Speaker 2>trend or this phenomenon. How could we relate to this

692
00:36:22.840 --> 00:36:24.679
<v Speaker 2>if we were looking to learn from the past.

693
00:36:25.719 --> 00:36:28.360
<v Speaker 5>Well, it's kind of interesting looking at the last time

694
00:36:28.920 --> 00:36:32.760
<v Speaker 5>the Fed cut rates was in March or twenty twenty

695
00:36:33.079 --> 00:36:35.639
<v Speaker 5>during the pandemic, and that was because the whole world

696
00:36:35.679 --> 00:36:38.400
<v Speaker 5>shut down and they were trying to stimulate the economy.

697
00:36:38.960 --> 00:36:41.960
<v Speaker 5>The last time they cut rates a whole half a

698
00:36:42.000 --> 00:36:46.039
<v Speaker 5>percent at one time was two thousand and eight during

699
00:36:46.039 --> 00:36:49.920
<v Speaker 5>the Great Recession because economy had just about died on

700
00:36:50.000 --> 00:36:52.639
<v Speaker 5>us and they were trying to stimulate the economy. This time,

701
00:36:52.679 --> 00:36:54.920
<v Speaker 5>they're cutting a half a percent, not trying to stimulate

702
00:36:54.960 --> 00:36:58.360
<v Speaker 5>the economy, but trying to take the rates back to

703
00:36:58.519 --> 00:37:03.480
<v Speaker 5>a more I guess they put it normalized level, so

704
00:37:04.400 --> 00:37:06.000
<v Speaker 5>they're gonna want to reduce the rates, and they're gonna

705
00:37:06.039 --> 00:37:08.559
<v Speaker 5>want to make sure they're not doing it too quickly

706
00:37:08.800 --> 00:37:12.079
<v Speaker 5>and pouring gasoline on the fire that's already burning as

707
00:37:12.119 --> 00:37:13.079
<v Speaker 5>high as we wanted to burn.

708
00:37:13.599 --> 00:37:15.760
<v Speaker 2>So we have to come back quite quite a ways

709
00:37:15.760 --> 00:37:20.960
<v Speaker 2>to find an equivalent combination of factors. Obviously, twenty twenty

710
00:37:21.519 --> 00:37:24.280
<v Speaker 2>was an anomaly. Two thousand and eight was an anomaly

711
00:37:24.559 --> 00:37:28.039
<v Speaker 2>bad situations to cut the raids to get the market

712
00:37:28.079 --> 00:37:30.760
<v Speaker 2>going up, but to kind of slow it down for

713
00:37:30.840 --> 00:37:34.559
<v Speaker 2>the soft so called soft landing. Maybe we haven't seen

714
00:37:34.599 --> 00:37:37.440
<v Speaker 2>that in twenty or thirty years. A rate cut to

715
00:37:37.519 --> 00:37:40.840
<v Speaker 2>effectuate that result exactly.

716
00:37:42.440 --> 00:37:45.480
<v Speaker 5>That hopes we can nicely do this without too much

717
00:37:46.599 --> 00:37:48.920
<v Speaker 5>in place in coming back, But you know, it's the

718
00:37:48.960 --> 00:37:54.679
<v Speaker 5>markets responded pretty quickly. Interest rates fell in anticipation of

719
00:37:54.719 --> 00:37:57.599
<v Speaker 5>the rate cut, and they fell some more after the

720
00:37:57.639 --> 00:38:02.000
<v Speaker 5>rate cut. People who have stock market investments and bond

721
00:38:02.000 --> 00:38:07.039
<v Speaker 5>market investments saw those go up, And you know it,

722
00:38:07.039 --> 00:38:10.400
<v Speaker 5>what's good for the investors who already have those things

723
00:38:10.639 --> 00:38:14.119
<v Speaker 5>might not be so good. You know it's cutting rates

724
00:38:14.199 --> 00:38:16.480
<v Speaker 5>is great if you're a borrower, and it's great if

725
00:38:16.480 --> 00:38:18.800
<v Speaker 5>you were already in the stock or bond market. But

726
00:38:18.840 --> 00:38:21.519
<v Speaker 5>it's not so great if you were living on your

727
00:38:21.519 --> 00:38:23.639
<v Speaker 5>fixed income, if you were getting by on your CD

728
00:38:23.840 --> 00:38:27.079
<v Speaker 5>and bond income, and you have these things come and do.

729
00:38:27.280 --> 00:38:29.119
<v Speaker 5>Now you're not getting the same rate we were getting

730
00:38:29.159 --> 00:38:32.320
<v Speaker 5>last year. And so for all retire are like, gosh,

731
00:38:32.360 --> 00:38:34.119
<v Speaker 5>this isn't a benefit to us.

732
00:38:34.400 --> 00:38:38.400
<v Speaker 2>Social Security beneficiaries that have suggested that you're going to

733
00:38:38.400 --> 00:38:41.719
<v Speaker 2>see a two percent cola next year. There was a

734
00:38:41.800 --> 00:38:44.000
<v Speaker 2>Cohler a couple of years ago as much as nine percent.

735
00:38:44.159 --> 00:38:46.480
<v Speaker 2>So you have people on a fixed income not going

736
00:38:46.559 --> 00:38:48.880
<v Speaker 2>to help them. Bill Denny, you've explained it very well.

737
00:38:48.920 --> 00:38:52.800
<v Speaker 2>You with Raymond James, financial strategist, big company, and I

738
00:38:52.800 --> 00:38:55.360
<v Speaker 2>know you're teaching a class tonight and I was, I

739
00:38:55.440 --> 00:38:57.039
<v Speaker 2>promised to get you out in ten minutes, and I

740
00:38:57.039 --> 00:39:00.320
<v Speaker 2>think I've met that that that commitment. Thank you so

741
00:39:00.400 --> 00:39:03.599
<v Speaker 2>much for wonderful You're great lead. You have a pleasure

742
00:39:03.679 --> 00:39:05.719
<v Speaker 2>if you love to have you back. Thank you very much,

743
00:39:06.440 --> 00:39:09.320
<v Speaker 2>thank you, thank you very welcome. When we get back,

744
00:39:09.480 --> 00:39:11.599
<v Speaker 2>we're going to talk about what went on up at

745
00:39:11.599 --> 00:39:16.679
<v Speaker 2>Susan Baranowski. It was an ugly scene. Correction officers were hurt.

746
00:39:17.800 --> 00:39:21.039
<v Speaker 2>We will have reaction from Governor Heally and we'll also

747
00:39:21.079 --> 00:39:27.199
<v Speaker 2>talk with Republican State Senator Durant. Peter Durant, This was

748
00:39:27.239 --> 00:39:29.719
<v Speaker 2>an ugly scene out there a little over twenty four

749
00:39:29.719 --> 00:39:32.800
<v Speaker 2>hours ago. Dan Rayo Knightside back after the nine o'clock

750
00:39:32.840 --> 00:39:33.079
<v Speaker 2>news
