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Conversation 006-070

TapeTape 6StartWednesday, June 30, 1971 at 7:46 PMEndWednesday, June 30, 1971 at 7:49 PMTape start time01:19:49Tape end time01:22:15ParticipantsNixon, Richard M. (President);  Haldeman, H. R. ("Bob")Recording deviceWhite House Telephone
AI Summary

President Nixon and H.R. Haldeman discuss positive economic indicators, specifically a significant drop in the unemployment rate and recent upward activity in the stock market. Nixon expresses a desire to downplay media reaction to the employment figures, while they analyze the technical factors behind the market shift, attributing it to end-of-quarter mutual fund adjustments. The conversation concludes with a brief, dismissive reference to Henry Kissinger’s moral perspective regarding ongoing administration challenges.

UnemploymentStock MarketMutual FundsNational EconomyPublic RelationsHenry Kissinger
AudioNARA Description

On June 30, 1971, President Richard M. Nixon and H. R. ("Bob") Haldeman talked on the telephone from 7:46 pm to 7:49 pm. The White House Telephone taping system captured this recording, which is known as Conversation 006-070 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 6-70

Date: June 30, 1971
Time: 7:46 pm - 7:49 pm
Location: White House Telephone

The President talked with H.R. (“Bob”) Haldeman.

     National economy
          -Unemployment rate
          -Commentators
          -George P. Shultz's view
          -Stock market activity
          -Mutual fund portfolio readjustment

     Pentagon Papers
          -Administration's reaction
          -Henry A. Kissinger's reaction
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

So, well, we're going to get a good break on unemployment.
I heard that.
Isn't that great?
Actually, a lot of it's technical.
No, but the other was technically otherwise.
But it could have been.
But the main point is that the damn commentators and the rest will squeal and scream around, and we don't need to make much of it.
But people will put them on.
The drop, you know, the 5.6 is a hell of a drop.
Now it'll probably creep up again in the summer.
That's all right, too.
Wow.
Good deal.
I think it will.
The market went up another 8.76% today.
8?
What's that?
Wasn't very big.
15 million or something.
Oh, that's big.
That's big for the summary.
Up $869,000 on $15,400,000.
That's a million more than it was yesterday.
$899,000.
$899,000.
Yeah, I'll tell you what this really is, I think.
My recollection is that the funds buy.
They have to buy before the end of their, you see, before July 1st in order to get there.
And you see that they want to make this work fully, those flip-flops.
And they buy at this point at a lower price.
July 31st through June 30th, report.
And they show that they've bought some at the lower price, you see.
All right, well, that's good.
I don't go along with Henry's morality, do I?
Okay, good.
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