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Conversation 298-035

TapeTape 298StartThursday, November 11, 1971 at 5:25 PMEndThursday, November 11, 1971 at 5:50 PMTape start time03:30:32Tape end time03:39:45ParticipantsNixon, Richard M. (President);  Colson, Charles W.Recording deviceOld Executive Office Building
AudioNARA Description

On November 11, 1971, President Richard M. Nixon and Charles W. Colson met in the President's office in the Old Executive Office Building from 5:25 pm to 5:50 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 298-035 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 298-35

Date: November 11, 1971
Time: 5:25 pm - 5:50 pm
Location: Executive Office Building

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[Previous PRMPA Personal Returnable (G) withdrawal reviewed under deed of gift 09/20/2018.
Segment cleared for release.]
[Personal Returnable]
[298-035-w002]
[Duration: 14s]

The President talked with Charles W. Colson.

[See Conversation No. 14-53]

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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 Do not cite this transcript as authoritative.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.

Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
The situation is that they have to be in by next week.
No, I'm sorry.
By the end of this week.
Yeah.
So, I think it's all right.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Well, I figured I'd just take that.
How much did the market go up today?
Another 11.
It worked.
I don't care.
They'll say it's uncertain.
At least I don't know you.
So it just got reduced, so the market went down again.
Yeah.
Yeah, the market went up.
I don't think it went up well, pretty good.
Probably the damn thing kind of went down because it burned.
Ha ha.
That's pretty much, what a bunch of goddamn, uh, timid, livid pastors.
That's unbelievable.
Pastors on the past, they all know that.
And I'll tell you when it passes, they'll, they'll say, oh, well, we just found out already.
And they thought it was going to be a negative or bearish statement or something.
The market thing gets hit to the right looking around.
How about Reagan?
You can't touch him.
He's a good man.
Run to the end of the way.
I must be worried.
Are you still bullish on America?
Uh-huh.
Well, there it is.
I'll leave it at that.
I think this is going to hurt our bullpen on Tuesday night anyway.
Business has always been the line of business to its great creditors in this country's history.
They've always been ahead of the people, and they have forecast what people will do, and they lead the people.
Now business, the people are ahead of business, and businessmen are leaders.
They should lead and not be followers, and now the people are leading the business.
On the other hand, looking at Main Street business, the Chamber of Commerce people who call their bullwish bulls pretty good.
That's Main Street.
They reflect folks.
That's exactly my point.
It's pretty, it's pretty.
Chuck, as I said, the leader types, the leader business types are the ones that are sitting on their butts and so forth.
Yeah.
Oh, they're a sad bunch.
They're a sad bunch.
Well, the other thing is, too, is that to keep the heat on our Durham, there's a money supply thing now.
Flannigan and the others, the other head of Wall Street, Patrick Archer, don't refuse to do that.
Do we?
I don't know what's going to happen.
This is why I have the problem.
I'm not sure it is junk.
I'm not sure it is my supply.
I'm not sure it is my supply.
I know that's the shell story.
I'm acquainted with it, but I've got a psychology that I don't understand.
I'm not sure it is my supply.
I'm not sure it is my supply.
Two years ago, they said it was Cambodia.
Well, it wasn't Cambodia.
God damn it, you know.
And they'd say, well, in certain reports, it's over in uncertainty.
It's uncertainty over this or that.
And what it really is, is we've got to have different people.
I mean, this economy's been pretty damn good.
Consumers, as Chelsea said, are the heroes of the whole thing.
They kept right on buying, right?
This year, they're buying cars, they're buying houses, they're buying retail stores.
There we are.
He can't just bring himself up to be incompetent.
That's very hard.
All right.
How about Stan?
Oh, boy.
Here.
I'm always amused when I see something like that.
I'm always amused when I see something like that.
You get too excited about these temporal boxes.
We got along very well today at the Senate.
Well, that was too then, but...
The Senate, in other words, had to turn it around.
Bullets.
Bullets.
They couldn't help very soon.
It really must be given a lot of thought to it.
But beyond that, the timeline of fortune, most of it's fairly bullish for next year or not.
They're basing that on consumer stuff.
They can't be basing it on the goddamn market.
Yeah.
They have a bunch of jobs.
Well, anyway, it'll take, it's got to go up.
Yeah.
We better have the lift later.
The lift now, that's for sure.
Keep burning, burning, going.
That's the thing, man.
I've heard that he has.
Good.
Yeah.
From this, now they get an initial situation, you know, which has nothing to do with most of it.
That's the way they are, though.
Yeah.
Yeah.
All right, we'll try that.
Okay.
All right.
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