Conversation 501-024

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And that took me to my office afterwards and he said, I just want you to know that you, I think you and the President did something for the world and there are no pieces of life for the crowd to see.

This is tremendous.

He says it now.

Oh, yeah.

He took the initiative.

He said.

You know the story.

I gave it.

I got it.

You didn't give it.

I don't want them to feel that I sat here knowing something and didn't tell them.

And, uh,

I think you ought to tell Smith that he wanted to tell the group that I'm the president without saying so.

I meant to say there that when something happens here, it is because, it is because, you know, I mean, this, if you play a major role in it, oh, that's what I really wanted, but it's the result of their negotiations and so forth that makes possible developments.

Because I was, you know,

They're all smart enough to get a double slot tonight.

Oh, yeah.

I have a slot for two levels.

No problem.

Is there any issue about time?

Or do you want to cut us some more?

As a trustee, the cut-down version of the announcement was still too long.

Yeah.

Well, let me just...

But now, the one thing to bring in as may was... Oh, I see.

...to make it as brief as possible.

We are confident.

We believe.

We hope.

No, we are confident.

We are confident.

I hope it won't be any longer, just to be sure.

He's coming over to work out the scenario.

Uh oh.

He said you did something not just for this country, but for the world.

No, Percy hasn't got a chance.

I've read his amendments.

That's basically what I feel that he's trying to do.

I was thinking the same thing.

I resolved the negotiations at the highest level.

I announced today a breaking the deadlock.

It is significant in breaking the deadlock.

Then, I thought I would say, this agreement, and I will do this announcement, are forward in our, toward our goal of negotiation and confrontation

It's a step in our...

It is a major step forward in our rule of...

I don't think you should blame too much for it.

Others should blame it for you.

But here we've confirmed it.

We've said it's a major step in breaking the deadlock.

That is true.

I'll say that in the beginning.

This announcement is an announcement to the desire by both countries to bridge the gap between our positions.

I don't know if that paragraph is true.

The United States is the next crucial phase of negotiations to turn the bridge into a successful one.

Throughout that life, we will try to make even further progress on the future of negotiation.

That's the idea that there are other areas we can negotiate in.

That's two of them.

I can see my point.

Yeah, that's the conclusion.

and we will continue with something we will try to extend or make this truly an year of negotiation in other fields as well.

We'll get our allies so jumpy

to make it truly a theater of negotiation.

Maybe we won't say that either.

This says nothing.

We don't want to make it appear that we and the Soviets have spent it.

I think this idea that both sides can devote their energies and resources to weapons of war, like the works of peace, that's what you want.

I would say beyond that loss of task, it was an even more far-reaching agreement.

I think we're going to leave that on the United States.

Here's the way I see it.

It is what it is at the beginning.

And I think the beginning is a little better the way this goes, Mr. Regent.

The announcement today is a significant development in breaking the deadline and a toss on speech on Wednesday, the 29th of December.

The announcement now being a sign of contingency and a step forward toward our goal of reducing the impact of COVID-19.

Uh, the only problem is that the last part of it should not be red.

Oh, I'm sorry.

No, no, no, I'm not stating that.

I'm stating the television effect.

I have one thought on that element, if I could raise it now.

What's that?

Doing it in the Rose Garden.

Bob, it's going to be a much better presentation than that sonnet.

When are you done like that?

You're making a mistake, sir.

Yeah, but then the restroom, too.

We've got a live TV camera there.

And then I'm going to add it.

I think the first two sentences you had were better than our first two sentences.

You haven't got those.

Have you read the first two sentences?

No.

Go ahead.

The announcement I'm now reading is being made simultaneously.

I haven't got it all.

You said something about the highest level.

Yeah.

As a result, as a result, as a result of negotiations, negotiations, discussions.

As a result of negotiations involving the highest level.

Involving the highest level.

Involving.

I am announcing today a significant development in breaking the deadlock in the talks of the Soviet-American talks.

I don't know about that.

Go type the rest of it off and let me know what you think.

The less we say, the better.

Absolutely, Mr. President.

The less, the better.

The prelim.

You're talking like that.

I think you should talk like that.

The President himself is insistent on that.

He's very proud of the same will as Moscow.

It occurred to me that it was good to have a good idea

to have the assault delegation meet with the NSC.

Oh, yeah.

Now, unless you think that will replace it, I'm still in a position not to do that.

I don't have to call them.

I can just say, well, you can see.

That's why I'm the last person I'm going to let in there to come.

And we don't want to do it.

The rest of the doing would be to, I mean, before they go off, maybe with the NSC.

True about that.

You are handing them a letter and saying you're sending them off.

That's...

I'm just afraid they'll start all battling at once.

I thought it may build it up too much, too, that I... Yeah, yeah.

I guess you're right.

Why don't we, why don't you call Smith and tell him that I, we were just unable to get there.

I couldn't get the group together at that time, and I felt, and I think, and frankly, I think it's only fair that I also believe that the M's should be on their delegation, and

And he'll also like the fact that he doesn't want to be in a straitjacket.

He's floating on air right now.

I see my point.

But tell him that the president's thought over and he would appreciate it if he did not mention that to anybody in the population.

And we can't get that.

He should tell the others he couldn't work it out.

But I believe that we should not put him in a straitjacket.

He's not responsible.

He should be free tomorrow.

Mora says you've saved the country again.

He knows that all these pastors were heading for an ABM-only agreement.

And he will, whatever you want, he's a thousand percent for it.

Tremendous.

I told the president... Oh, he says he knows that all of us are going to have ABM-only.

Jerry Smith, after the meeting with the president, asked me to come to the... Well, he could see me in the office.

He said, I just want you to know...

What the President has said is not just for this country, but for the world.

And I don't think there are any personal feelings involved.

I'm proud to be associated with it.

You know, I do think one thing we must do is be an awful bunch of these guys happy right now.

Quite a lot of you invite them myself, or they've never had them socially.

Yes.

You can do that or they'll be back on the 28th, either way.

Check with all of them on the schedule to see if it's working out for you.

Yes, I will do that.

And also, Henry, the other thing is that I think that I want to give him a small dance.

He's here.

He's been very kind.

Oh, yes, he is.

Yes.

Why don't you get on there and hold?

I think the main purpose we want here, and we should do it as fast as we can, is 4 o'clock is to get our pictures.

Then to the pictures.

This is Paul.

He makes a lot of progress.

We want this picture to make a lot of progress.

Yes, sir.

I know that you don't care about the pictures, John.

Not anymore.

I think the pictures are all very well for you, from what I've heard recently.

The only thing that concerns me about the signal clip is that it costs about 400 million dollars and we're at a loss and we're only providing 50 million dollars.

Second thing, why didn't we ever ask the two questions?

I don't know.

I don't need all the other questions that have occurred to me.

I can't tell you.

It's a good problem and I'm going to look into that.

I'm going to look into your name on the back.

It's not about the blue.

It is a cop.

And it should have been out of the way, you know.

I thought we had done this in your office.

Yeah.

And I got slapped out of the way.

We're working.

Here I am today, and I will come to you again.

I don't know if you can hear me.

Check the weather, it's gonna rain hot and windy.

How do you do this?

How do I do this?

I don't know, it's up to me.

Remember I kept saying that the highest record commonly came back in on both hours.

This was a month ago.

You remember.

He talked to you, didn't he?

Yes, sir.

I don't know what happened with that article.

Yes, sir.

I don't know what happened with that period on the conference that maybe Kansas got us to win a vacation for two days.

But that's just a matter of time.

It is.

He said he had a wife at 72.

So then we did a violation.

So now we're trying to get another one.

And that is to make it.

Go ahead.

I'll speak for the change there.

So the fact that we didn't have a wife at 72 is a problem.

This is 50 million dollars.

Yes, sir.

But I think the truth is, the 50 million isn't going to be used in Texas at all for a moment.

And as I believe, this first half of this campaign, we're going to have to look at expanding this movement.

If you take the focus off the testers in Oklahoma, you can go with it nationally and spend a day.

It was the right thing to do.

The main thing we want to do is to help here.

When I get into this, I find in operating loans and ownership loans, these are two important categories, though the ceiling has not been lifted significantly since 1960.

And there's a group of South Carolina people, bureaucrats, that were in the United States some place that somehow managed to back this thing and stall it.

So that, uh, and Raymond and, uh, Brad Pitt, uh, in Greece, didn't ever, they never got it done, and they knocked this down for two years.

Well, there was no excuse for it because it was a fuzzy holiday item until now.

But it isn't from here on.

And there's just no damn sense.

In Farmerton, New York, uh, look at the bar, uh,

There's a little subsidy involved between the rate that goes for it and that, but it's the law of the land, and we often have this.

We ought to be able to tell these farmers that if you need it and you can justify it, it's your right.

And I hope you can put that out there.

Does everybody understand?

Does everyone understand it?

Does the white burger understand it?

Let me make sure of it.

Well, I don't know the problem.

Well, if we do another press conference, then I'll agree with that.

The principle here we're talking about is, from now on in this administration, we're going to do whatever is necessary to make enough of the money available for our military and the operating loans and partners of the administration.

So if we don't run out of money, we're going to have to cap down.

Well, I can't explain it to the president.

The president said it.

I'd like to see what the problem is.

If there's any question about it, it seems to me, with our enormous importance in agriculture.

But it argues very much that there isn't any evidence, what?

That there isn't enough evidence that they're running out of money.

Right.

What do you say?

Well, if you ever had in 1960, this was worse than

Who's going to watch this to be sure?

This is a very technical thing.

Can you watch it?

I just want to be sure that you understand.

I don't know how these farmers feel.

The economy is looking at very strong terms.

I don't want to make a budget decision.

We're talking about $50 a month.

I understand, John, this is not going to make a lot of money.

And it's a subsidy.

It's very small.

Let me say this to you.

that if it seems to me that this makes a lot of sense, I'd like to, I'd like to bring it to them, which would be good.

You're under my command.

Although, he's our low-interest rate man in the administration.

And apparently everybody else wants to raise the interest rates.

Margaret Byrne wants to raise the rates in order to save the dollar, not them, or the mark.

That's what we're trying to save, not the dollars.

To hell with it.

We're not going to raise the interest rates with you.

We've got to keep them down.

It's my view.

Margaret, I will...

But, John, Mr. President, my husband, John, that'll never happen when I say this, understand?

A little, a little.

But we have a big way to keep it.

Now, listen, and we're going to provide everything for them.

I want to be sure that they know that that subject has got to come up in this industry.

I mean, we're just not going to have it.

And the Fed, in a stupid way, you know, moved, you know, tied up on the lines there.

Are they going to?

That's what everybody did.

I, this morning, had done what's known as an operation of choice, which was to increase, try and increase the short-term rates while keeping the long-term rates down.

Didn't quite get it at the time of once we're moving out of here, but led up to this crisis abroad.

Now we've had the crisis.

At the Treasury meeting, it was agreed that John would talk to Chairman Burns and say, John, comment.

Yes, and no more operation of choice.

We want to keep those short-term rates down.

Absolutely.

Listen, I have a feeling myself, Judge Lee, and it affects housing and it affects farms and it affects everything else.

You as a banker know this, Farmer.

I think that interest rates could be even more important than a hell of a heartburn in the budget in terms of where this economy is going to be in terms of how people live.

Do you agree?

Yes, sir.

At some point, if it's moving fast enough,

We're not there yet.

That's right.

We're not there yet.

And of course, the interest rates have started to move a little bit.

I know Regan, I'm sorry.

Just to summarize, Regan was with us this week.

His whole argument was summed up by the fight because of the market crisis.

That's because it's not a dollar, right?

It's not a man mark.

This fellow Graham is a socialist, and he is spending wildly, and they have a hell of a high inflation, and zero unemployment in Germany, and he won't do a thing about it.

So the markers result of that, you know, I think we've got a problem.

I think that it's not going to get cleared across, but it should.

I mean, you know, it's going to get cleared across.

You know what I mean?

Parking and home building are present.

I know some home buildings are still open.

It's pretty good.

The PQ have about three or four months of those parking traits.

You told me they're present.

Mark told you that the market rates were sharply down.

Yes, is that true?

That was, as you know, about a month ago.

I had a hand with Mark this morning to find out what he thought was going to happen, both to the availability of money and cost of money, and how it would start throughout the rest of the year.

He says that the demand has been so high on SNLs that they've moved from the 6.75% to the 6.75%.

up to seven, seven and a half.

That's what we're putting mortgages out at.

He says that the money is coming in to Escanal that will continue to do so through the third quarter.

Not sure about the fourth quarter.

He's perfectly satisfied with what we have in place.

housing starts at the $1.9 million, $2 million level through the third quarter.

We want it higher.

We've talked to them about what else we can do to make sure that in the fourth quarter, and in the first and second quarters of next year, it goes to the $2 million, $1 million, $2 million, $2 million.

And in that score, let me say that Max Fisher was in here.

He said that he had to talk about it as much as their main concern was about housing money.

You do, but it seems to me that John, there's nothing more important to our economy than to keep these damn interest rates in a place where they're going to build these houses.

May I have a question, Mr. President?

I've been the home builder of that for a long time.

You just want to be responsible.

I think we ought to keep it moving in an orderly pace and don't die too fast because some of the builders are already going to get a little bit concerned.

about over building in some areas.

So I would see some degree of agreement.

What I would like to see do is make an order for progression through this 7-2 and look on the outside then.

Not hit the outside, I think that would be too soon to be on the downside of the 7-2.

If I can, Mr. President, you've spoken with President Warren this morning.

His prediction on the assumption that we do what we can do and what we have in place is that in 9,

From now to the first half of the year, we'll go up to the 2,002,001 level through the second half of the year, ending the year at 2,002,001.

And he thinks we can move to the 2,002 next year.

60% of the housing starts are financed through his organizations, 20% through the commercial banks, another 20% through individual insurance companies, et cetera.

We are having meetings now with the Fed, Treasury,

et cetera, to make sure that they do what's necessary.

And I think, John, if you follow that schedule, you'll meet what you're looking for, which is climb right to the top.

I just saw this on the way down about November 7th.

We could just simply say that in this case, I just want to be sure that we don't appear to be negating or something.

We're just the farmers that we promised in that speech at Palm Springs.

Right.

Okay, but there is a technicality in there because you said FY72.

I never thought about the next part of that.

Well, this is not a part of the outline, really.

So, I think it would be great if we wrapped it up, attached it up, and now, in the next week or so, we've got the rest of it.

Now, let me get this one perfectly clear.

That is it.

This is not flat.

So, the fourth of this, this is one of the southwests.

Now, you just made a mess, so there's no... Just $48,000.

$48,000 on top.

We don't need $50,000 to stop this.

All right.

We'll make sure that if you have something, you know...

I'm sure.

Every application, every application, we've got to set it under setting.

That's what I'm talking about.

All right.

Well, let me say, let me say a whole lot.

I mean, I mean, you know, who's the senator from Minnesota?

Let me say, if you had a choice in Minnesota or Texas, you'd put the money in Texas.

Oh, we did.

We did.

We have.

Humphrey Lube.

That's right.

Listen, they didn't elect this man.

They don't have a spokesman.

They got a spokesman.

But I'm on the right way to take him down right now.

And we, uh, can't do it another year.

Okay.

That's right.

Thanks for your votes.

We had two guys.

We can all stand up.

I sit better.

Goodbye.

Thank you.

Thanks a lot.

I'm surprised we got a hell of a vote after we beat that thing so much.

Well, it wasn't exactly Liverpool.

It was not well thought out, Mr. President.

They had this question.

What is the reason?

What about the Mathias?

We're most concerned.

We're going to beat Nashville, Mr. President, out of ten.

The reason we're worried about Mathias is we can't figure out what the Democrats are trying to do.

A lot of people that should have been voting for him, were worried about the lie and did not vote.

So you think they could have promised Mathias?

We're a little worried that they may be.

Well, our guy's sticking around.

Oh, I just ran down your surface.

We've got a good group.

I'm going right back.

We've got a very good group.

We've got Ballou and Timmons.

We've got a good group of senators.

Oh, yes.

Oh, very good.

And Johnson.

I won't tell you why.

By the end of the week, they're going to rule the day.

And this young fellow is a fifth-year professor at the Penn Free.

Johnson is up there helping him do a good job.

Great.

Good luck.

Yes, sir.