Nixon White House Tapes — Conversation 011-003
Date: Thursday, October 7, 1971 at 5:49 PM
Participants: Nixon, Richard M. (President); Safire, William L.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/011-003

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:01] Bill, I'm just checking back again to be sure we're correct on that.
[0:07] This is the first time in seven years that industrial prices have declined.
[0:13] That's what it says here.
[0:15] That's right.
[0:16] Declined.
[0:17] They've never gone down in seven years, or is it the biggest decline in seven years?
[0:21] See, the wholesale prices is the biggest decline in five years, and that I can buy.
[0:25] But what this says now is this is the first time in seven years that industrial prices have declined.
[0:32] Right.
[0:32] It's the first time in three and a half years that industrial prices have declined on an unadjusted basis.
[0:38] I don't give a damn about unadjusted because we'll call it declined.
[0:41] Okay.
[0:42] I'll double check it again.
[0:44] Well, I'm going to leave it at seven years.
[0:47] Right.
[0:47] Leave it the way it is.
[0:48] And then if it turns out that I'm wrong, I'll call it a big flop.
[0:51] Seven?
[0:52] It's seven years.
[0:53] That's in the text, isn't it?
[0:54] Yes.
[0:57] Seasonally adjusted.
[0:59] I didn't put seasonally adjusted.
[1:00] Well, I don't think you need to.
[1:01] You don't.
[1:02] You don't because that's good.
[1:03] I didn't make a difference to everybody.
[1:04] You just say, of course, that's what we always talk about.
[1:06] Okay.
[1:07] One other thing.
[1:08] Yeah.
[1:08] Don Rumsfeld is anxious to get... Yeah, I got that and I'm putting it in.
[1:12] You are putting it in?
[1:13] Yeah, if they want it.
[1:15] Yeah.
[1:15] You think there's a problem with that?
[1:17] Uh...
[1:18] No problem with it.
[1:19] It means a lot to him.
[1:20] That's the whole point.
[1:21] Well, he's given me a... No, no.
[1:23] I don't want his line.
[1:24] I know.
[1:24] I haven't got 40, 50 words.
[1:27] I've put it in five.
[1:28] Okay.
[1:29] Okay.