Nixon White House Tapes — Conversation 298-035
Date: Thursday, November 11, 1971 at 5:25 PM
Participants: Nixon, Richard M. (President); Colson, Charles W.
Recording device: Old Executive Office Building
Source: https://www.easynixon.org/tapes/298-035

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 Do not cite it as authoritative.

[0:00] Yeah.
[0:02] Yeah.
[0:07] Yeah.
[0:09] Yeah.
[0:13] Yeah.
[0:25] Yeah.
[0:25] Yeah.
[0:25] Yeah.
[0:28] The situation is that they have to be in by next week.
[0:44] No, I'm sorry.
[0:45] By the end of this week.
[0:47] Yeah.
[0:49] So, I think it's all right.
[0:58] Yeah.
[1:21] Yeah.
[1:21] Yeah.
[1:22] Yeah.
[1:22] Yeah.
[1:22] Yeah.
[1:22] Yeah.
[1:22] Well, I figured I'd just take that.
[1:23] How much did the market go up today?
[1:24] Another 11.
[1:24] It worked.
[1:28] I don't care.
[1:47] They'll say it's uncertain.
[1:48] At least I don't know you.
[2:03] So it just got reduced, so the market went down again.
[2:19] Yeah.
[2:19] Yeah, the market went up.
[2:20] I don't think it went up well, pretty good.
[2:25] Probably the damn thing kind of went down because it burned.
[2:27] Ha ha.
[2:34] That's pretty much, what a bunch of goddamn, uh, timid, livid pastors.
[2:55] That's unbelievable.
[2:55] Pastors on the past, they all know that.
[2:56] And I'll tell you when it passes, they'll, they'll say, oh, well, we just found out already.
[2:58] And they thought it was going to be a negative or bearish statement or something.
[3:04] The market thing gets hit to the right looking around.
[3:30] How about Reagan?
[3:30] You can't touch him.
[3:30] He's a good man.
[3:31] Run to the end of the way.
[3:31] I must be worried.
[3:32] Are you still bullish on America?
[3:32] Uh-huh.
[3:33] Well, there it is.
[3:33] I'll leave it at that.
[3:35] I think this is going to hurt our bullpen on Tuesday night anyway.
[3:41] Business has always been the line of business to its great creditors in this country's history.
[3:59] They've always been ahead of the people, and they have forecast what people will do, and they lead the people.
[4:04] Now business, the people are ahead of business, and businessmen are leaders.
[4:08] They should lead and not be followers, and now the people are leading the business.
[4:12] On the other hand, looking at Main Street business, the Chamber of Commerce people who call their bullwish bulls pretty good.
[4:29] That's Main Street.
[4:30] They reflect folks.
[4:31] That's exactly my point.
[4:31] It's pretty, it's pretty.
[4:32] Chuck, as I said, the leader types, the leader business types are the ones that are sitting on their butts and so forth.
[4:38] Yeah.
[4:39] Oh, they're a sad bunch.
[4:41] They're a sad bunch.
[4:51] Well, the other thing is, too, is that to keep the heat on our Durham, there's a money supply thing now.
[5:09] Flannigan and the others, the other head of Wall Street, Patrick Archer, don't refuse to do that.
[5:10] Do we?
[5:11] I don't know what's going to happen.
[5:12] This is why I have the problem.
[5:21] I'm not sure it is junk.
[5:29] I'm not sure it is my supply.
[5:30] I'm not sure it is my supply.
[5:30] I know that's the shell story.
[5:31] I'm acquainted with it, but I've got a psychology that I don't understand.
[5:32] I'm not sure it is my supply.
[5:33] I'm not sure it is my supply.
[5:34] Two years ago, they said it was Cambodia.
[5:48] Well, it wasn't Cambodia.
[5:49] God damn it, you know.
[5:49] And they'd say, well, in certain reports, it's over in uncertainty.
[5:51] It's uncertainty over this or that.
[5:51] And what it really is, is we've got to have different people.
[5:53] I mean, this economy's been pretty damn good.
[5:54] Consumers, as Chelsea said, are the heroes of the whole thing.
[6:19] They kept right on buying, right?
[6:20] This year, they're buying cars, they're buying houses, they're buying retail stores.
[6:22] There we are.
[6:22] He can't just bring himself up to be incompetent.
[6:23] That's very hard.
[6:25] All right.
[6:48] How about Stan?
[6:48] Oh, boy.
[6:48] Here.
[6:48] I'm always amused when I see something like that.
[6:49] I'm always amused when I see something like that.
[6:50] You get too excited about these temporal boxes.
[6:55] We got along very well today at the Senate.
[7:06] Well, that was too then, but...
[7:20] The Senate, in other words, had to turn it around.
[7:22] Bullets.
[7:22] Bullets.
[7:23] They couldn't help very soon.
[7:23] It really must be given a lot of thought to it.
[7:24] But beyond that, the timeline of fortune, most of it's fairly bullish for next year or not.
[7:53] They're basing that on consumer stuff.
[8:15] They can't be basing it on the goddamn market.
[8:16] Yeah.
[8:16] They have a bunch of jobs.
[8:17] Well, anyway, it'll take, it's got to go up.
[8:18] Yeah.
[8:18] We better have the lift later.
[8:19] The lift now, that's for sure.
[8:19] Keep burning, burning, going.
[8:20] That's the thing, man.
[8:23] I've heard that he has.
[8:38] Good.
[8:39] Yeah.
[8:39] From this, now they get an initial situation, you know, which has nothing to do with most of it.
[8:47] That's the way they are, though.
[8:52] Yeah.
[8:52] Yeah.
[8:56] All right, we'll try that.
[9:12] Okay.
[9:12] All right.