Wall Street Week | Blue Wave Economic Impacts, European Welfare Woes
Channel: Bloomberg Television
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Read a transcript preview of “Wall Street Week | Blue Wave Economic Impacts, European Welfare Woes” from Bloomberg Television, uploaded on 2026-11-07.
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Language: English (creator captions)
[0:13] David Westin: This is "Wall Street Week."
[0:15] I'm David Westin, bringing you stories of capitalism.
[0:18] Americans are reeling from the high cost of diesel
[0:20] and other fuel in the wake of the Iran conflict.
[0:24] We visit one state where people could break even,
[0:27] or even come out ahead.
[0:29] Plus, we continue our site visits
[0:31] with regional Fed presidents,
[0:33] this time with Richmond's Tom Barkin
[0:35] on his visit to a manufacturing plant
[0:36] in Union, South Carolina.
[0:39] And demonstrations in the streets of Paris
[0:42] show the stress on the French social welfare system.
[0:45] Can Europe still afford
[0:46] what it put in place decades ago?
[0:50] But we start with the aftermath
[0:52] of the midterm elections this week,
[0:54] and what they may mean for the policies,
[0:56] or lack of policies,
[0:58] on the economic issues that matter to voters.
[1:00] We talked with Glenn Hubbard of the Columbia Business School,
[1:03] who served as Chair
[1:04] of the Council of Economic Advisers
[1:06] under President George W. Bush.
[1:10] -I think there are two messages,
[1:12] and I don't think the press has really picked up on them.
[1:15] The first is that voters want what works.
[1:18] The second is that voters want you
[1:20] to actually look at their problems.
[1:23] I think there's a view that, well,
[1:25] the Democrats won because their ideas are better.
[1:27] Well, they may or may not be,
[1:28] but that's not what the electorate was saying.
[1:30] I think the electorate is just saying,
[1:31] give me something that works.
[1:33] Affordability is an example.
[1:34] But really we've had decades of big change in the economy.
[1:37] Politicians on both sides of the aisle have nodded,
[1:40] but have n