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Speaker 1: Good morning. I'm Brian Curtis.

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Speaker 2: And I'm Doug Prisner. Here are the stories we're following today.

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Speaker 1: Rhonda Sentis has suspended his campaign for president, and back

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Speaker 1: to with that story and more from San Francisco.

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Speaker 3: And yeah, that's right, Brian, and we're going to cover

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Speaker 3: it too. There were two now for the GOP.

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Speaker 4: If there was anything I could do to produce a

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Speaker 4: favorable outcome, more campaign stops, more interviews, I would do it.

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Speaker 4: But I can't ask our supporters to volunteer their time

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Speaker 4: and donate their resources if we don't have a clear

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Speaker 4: path to victory. Accordingly, I am today suspending my campaign.

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Speaker 3: Running out of time, polling very poorly.

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Speaker 4: It's clear to me that a majority of Republican primary

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Speaker 4: voters want to give Donald Trump another chance. They watched

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Speaker 4: his presidency get stymied by relentless resistance, and they see

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Speaker 4: Democrats using lawfair this day to attack him.

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Speaker 3: And Bloomberg'slaura Davison is in New Hampshire for the Tuesday

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Speaker 3: primary and says that his campaign, well, they just knew

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Speaker 3: it was time.

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Speaker 5: Getting out now helps him both preserve his political career

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Speaker 5: going forward. Santas is a young guy He's in his forties,

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Speaker 5: so this would either help him, you know, kind of

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Speaker 5: set his sights on twenty twenty eight or some other

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Speaker 5: national job going forward. It's also possible he could be

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Speaker 5: potentially set himself up for a job in a Republican administration,

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Speaker 5: though that is not clear kind of what that would

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Speaker 5: look like yet, Arley.

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Speaker 3: So it leaves Trump and Haley, and Haley is out

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Speaker 3: swinging today. She's questioning Trump's mental fitness. The latest comes

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Speaker 3: with him trying to tie her to the January sixth insurrection,

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Speaker 3: confusing her, presumably with Nancy Pelosi.

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Speaker 1: NICKI, Haley is in judge of security. We offered her

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Speaker 1: ten thousand people soldiers, national guards, whatever they want.

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Speaker 6: They turned it down.

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Speaker 7: Recently, there have been multiple things. I mean, he claimed

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Speaker 7: that Joe Biden was going to get us into World

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Speaker 7: War two. I'm assuming he met World War three. He

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Speaker 7: said that he ran against President Obama. He never ran

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Speaker 7: against President Obama. He says that I'm the one that

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Speaker 7: kept security from the Capitol on January sixth. I was

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Speaker 7: nowhere near the Capitol on January sixth.

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Speaker 3: Haley on CBS has heard on Bloomberg. Trump still has

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Speaker 3: a huge lead in New Hampshire. We will have full

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Speaker 3: coverage on Tuesday. Israeli Prime Minister Benjaminette Yahoo has rejected

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Speaker 3: what he calls unacceptable terms presented by Hamas for a

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Speaker 3: new hostage deal. He says Hamas is demanding an end

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Speaker 3: of the war and withdrawal of forces from Gaza. He

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Speaker 3: says if he were to agree to to that, Israeli

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Speaker 3: soldiers would have fallen in vain and the next October

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Speaker 3: seventh would only be a matter of time. Meanwhile, in

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Speaker 3: the Middle East, US Central Commands says some American soldiers

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Speaker 3: are being evaluated following a large missile attack by in

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Speaker 3: Iran backed militia in Iraq and the Sea. Official John Kirby.

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Speaker 6: It's only a very small number of US troops that

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Speaker 6: were affected. They're being seen for traumatic brain injuries with

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Speaker 6: some symptoms of concussions.

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Speaker 3: And Deputy National Security Advisor John Finer on ABC has

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Speaker 3: heard on Bloomberg says the US is holding Iran a responsible.

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Speaker 6: We have held Iran responsible for this in a number

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Speaker 6: of ways. First and foremost, we have taken military action

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Speaker 6: against sites in i Rock and Syria that are also

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Speaker 6: tied to the IRGC, which supports these militias. We have

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Speaker 6: said quite clearly that we hold are on responsible for

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Speaker 6: the groups, the proxies that it supports and that it

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Speaker 6: provides weapons too.

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Speaker 3: And says the US will continue to attack Hoothie bases

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Speaker 3: an attempt to cut their ability to carry out the attacks.

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Speaker 3: Global lows twenty four hours a day and whatever you

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Speaker 3: want it with Bloomberg News now in San Francisco. I'm

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Speaker 3: at Baxter. This is Bloomberg Garbrian.

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Speaker 1: Thanks very much, six minutes here past the hour. Nice

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Speaker 1: to have you with us on this Monday morning. Coming

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Speaker 1: up over the next hour, key interviews here live on

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Speaker 1: the program with the Dessantas pulled out with the Israeli

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Speaker 1: Hamas conflict, and also how the markets are setting up

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Speaker 1: as we get started here in the new trading week.

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Speaker 1: Now it's time for the top business stories of the hour.

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Speaker 1: Well three FED officials are emphasizing that it's incoming data

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Speaker 1: that will guide their decision on wind to cut interest rates.

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Speaker 1: San Francisco FED president Mary Daily noted that there just

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Speaker 1: is not enough evidence that inflation is going to stay down.

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Speaker 8: We don't want to loosen policy too quickly only to

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Speaker 8: find that inflation gets stuck. It way above target. That

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Speaker 8: would be a miss. That would be a very scarring miss.

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Speaker 8: And we don't want to try to get to two

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Speaker 8: so quickly, like overnight, just to get that squeezed out

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Speaker 8: that we end up having this big run up at

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Speaker 8: the unemployment rate.

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Speaker 1: That's Mary Daily. In the meantime, Atlanta FED President Raphael Bostick,

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Speaker 1: while open to changing his economic outlook, still thinks the

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Speaker 1: first rate cut will not be until the third quarter,

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Speaker 1: and Chicago FED President Austin Goolsby has a slightly different position,

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Speaker 1: saying officiers should consider cutting interest rates as inflation falls

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Speaker 1: to avoid being having policy be too tight.

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Speaker 2: Well, in terms of Kate, data points this week that

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Speaker 2: may influence the Fed's decision on Thursday, it's the government

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Speaker 2: report on fourth quarter GDP. Bloomberg's Denise Pellegreney has a preview.

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Speaker 9: Economists project the government's initial reading a fourth quarter gross

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Speaker 9: domestic product to show and annualize two percent increase. That's

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Speaker 9: apter a four point nine percent third quarter advance for

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Speaker 9: the measure of goods and services produced. The two numbers

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Speaker 9: together would make it the strongest back to back quarters

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Speaker 9: of growth since twenty twenty one. That might have you

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Speaker 9: worried about inflation. We have more on that coming as well. Friday,

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Speaker 9: we'll get a read on the Freed's preferred measure of inflation.

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Speaker 9: The government's Personal Income and Spending Report is seen showing

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Speaker 9: underlying inflation rows three percent of the year ending in December.

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Speaker 9: That would be an eleventh straight month of slowing annual

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Speaker 9: price growth. Denise Pellegriney Bloomberg Radio, And.

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Speaker 1: As we heard from Doug Krisner, it's another busy week

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Speaker 1: for earnings in the United States. Let's get a preview

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Speaker 1: here from Bloomberg's Charlie Pellett.

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Speaker 10: We'll be hearing from companies across a broad swath of

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Speaker 10: industries amid questions about how firms and their customers have

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Speaker 10: dealt with high interest rates. Emily Rowland is co Chief

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Speaker 10: Investment Strategistic JH Investments.

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Speaker 11: So what companies are dealing with now, of course, is

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Speaker 11: a much higher cost of capital as rates have gone

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Speaker 11: up at the same time that revenue growth this shrinking.

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Speaker 11: So those margins are really getting challenged here. And the

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Speaker 11: key for companies from here is who can manage that

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Speaker 11: best in an environment where it's going to become a

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Speaker 11: lot more difficult.

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Speaker 10: Among the names reporting this week three AM American Express, Blackstone,

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Speaker 10: AT and T, Northrop Grumman, Norfolk, Southern Union, Pacific, Tea Mobile,

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Speaker 10: and Visa in New York. Charlie Pellett Bloomberg Radio, Jet.

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Speaker 2: Blue and Spirit Airlines are appealing the decision to block

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Speaker 2: their planned merger. It is a last ditch effort to

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Speaker 2: save a deal that analysts believe is essentially dead. Last week,

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Speaker 2: a federal judge concluded the tie up would lead to

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Speaker 2: higher ticket prices or fewer choices for consumers. But late Friday,

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Speaker 2: the carriers filed a one sentence notice of appeal, and

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Speaker 2: in a separate regulatory filing, Spirit said it believes a

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Speaker 2: combination with Jet Blue is the best opportunity to increase

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Speaker 2: much needed competition and choice, and we had shares in

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Speaker 2: Spirit jumping as much as seventeen percent in the late

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Speaker 2: session after the appeal or the news of the appeal landed.

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Speaker 1: Brian Well Skepticism over Chinese assets is spreading now beyond stocks.

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Speaker 1: That's as the latest data confirms the Chinese economy is

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Speaker 1: stuck in the doldrums. Investors are expecting the yuan and

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Speaker 1: government bonds also now to underperform. Mizuho, for instance, has

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Speaker 1: pressure on the currency, and the bank's narrow net interest

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Speaker 1: margins will limit the central bank's room for cutting rates.

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Speaker 1: Chinese banks will probably keep their loan prime rates on

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Speaker 1: hold a little bit. This lay later this morning here

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Speaker 1: on Monday our time, and we will be watching that

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Speaker 1: for you. Joining us on the program as Genie Chianzano,

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Speaker 1: professor Bloomberg Politics contributor and author of American Democracy in Crisis.

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Speaker 1: On Ronda Santis dropping out of the twenty twenty five race, GENNI,

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Speaker 1: thanks so much for being with us. So you hear

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Speaker 1: a lot funding is kind of running out, and also

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Speaker 1: that maybe, just maybe DeSantis has kind of looked at

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Speaker 1: the calculus and wants to preserve his political capital for

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Speaker 1: twenty twenty eight.

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Speaker 10: What are you hearing?

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Speaker 12: Yeah, I think both of those things are true. He

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Speaker 12: put all of his eggs in the Iowa basket to

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Speaker 12: come up as short as he did, even though he

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Speaker 12: got second place narrowly over Nikki Haley. And then as

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Speaker 12: you mentioned, you know, anybody who has been watching up

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Speaker 12: here where I am in New Hampshire, there hasn't been

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Speaker 12: a pro desantus ad on the airwaves. If you can

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Speaker 12: believe it, since before Thanksgiving he had no shot. Here

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Speaker 12: he's in the single digits. And then of course he

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Speaker 12: was going to try to move maybe to South Carolina.

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Speaker 12: He spent some time there and seemed to come up empty.

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Speaker 12: But I'll tell you, you know, a campaign imposion like

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Speaker 12: I don't think we've seen in the modern era, from

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Speaker 12: start to finish, the rocky Twitter live stream start to

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Speaker 12: a really really devastating finish today when he suspended his campaign,

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Speaker 12: and not.

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Speaker 2: A surprise that he would go on to endorse the

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Speaker 2: front runner, Donald Trump.

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Speaker 12: Right, No, not a surprise at all.

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Speaker 2: You know.

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Speaker 12: I think one thing that we forget is that in

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Speaker 12: twenty sixteen, Trump did not even get his first endorsement

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Speaker 12: from a sitting senator until February of that year. At

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Speaker 12: this point he has almost more institutional support in terms

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Speaker 12: of endorsements than any a non incumbent in modern history.

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Speaker 12: His endorsements have been remarkable, of course, I think, you know,

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Speaker 12: the Tim Scott endorsement the other day, a blow to

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Speaker 12: Nikki Haley, and you know, Ron de Santis like everyone else,

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Speaker 12: they think they see the writing on the wall that

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Speaker 12: Donald Trump has pretty much wrapped this up and they

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Speaker 12: don't want to be left behind in a Republican party

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Speaker 12: that is owned by Donald Trump.

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Speaker 1: Well, Nikki Hayley doesn't think that it's basically a done deal.

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Speaker 1: And of course we know from history that sometimes if

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Speaker 1: you don't win in Io, you can still go on

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Speaker 1: and get the nomination. But I meant what you say,

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Speaker 1: it sounds pretty obvious. And the other big story is

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Speaker 1: how Nikki Hayley is really taking on President Trump or

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Speaker 1: former President Trump in some of the comments that he's made,

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Speaker 1: as he's had some gaffes.

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Speaker 12: Yeah, that's right, and I do want to say to

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Speaker 12: your point, and New Hampshire is, you know, famous for

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Speaker 12: its surprises. It could deliver one on Tuesday, just as

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Speaker 12: John McCain and Hillary and Bill Clinton. So a lot

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Speaker 12: of surprises could be in store. And even if she

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Speaker 12: comes in a second, she certainly could continue that said.

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Speaker 12: She has been hitting him hard in the last few

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Speaker 12: days on the campaign trail as she chriss crosses this state.

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Speaker 12: And of course a lot of these are self inflicted

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Speaker 12: wounds on the part of the former president. And you know,

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Speaker 12: I heard you playing earlier one of those clips where

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Speaker 12: he confuses her with Nancy Pelosi and then, as she

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Speaker 12: said on CBS this morning, this is something he has

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Speaker 12: done repeatedly. He's you know, not sure who he's running against.

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Speaker 12: Seems to think he's runn against Barack Obama. She is

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Speaker 12: raising the question of his age and his cognitive ability,

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Speaker 12: as she has done throughout the campaign. But you hear

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Speaker 12: here a lot of supporters and never Trumpers say they

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Speaker 12: wish she had done this asvciferously earlier than she has,

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Speaker 12: and they wish she had not renegged on that debate

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Speaker 12: with Ron DeSantis because she needs as much of an

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Speaker 12: opportunity to be on the airwaves and change what seems

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Speaker 12: to be the momentum of Donald Trump here.

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Speaker 2: So, Cheenie, am I right? New Hampshire has an open

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Speaker 2: primary which will allow not only independence but perhaps some

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Speaker 2: Democrats to throw their support behind Haley.

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Speaker 1: Right, that's right.

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Speaker 12: You know you can come in here and you can

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Speaker 12: play if you are an independent, a moderate, a Democrat

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Speaker 12: in the Republican primary. And so I think if Nicky

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Speaker 12: Haley has a surprise on Tuesday night in Store, it

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Speaker 12: is going to be because she has enormous which is

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Speaker 12: a possibility, the weather's supposed to be pretty good, and

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Speaker 12: because she wins independence. Nobody wins the New Hampshire primary

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Speaker 12: without winning big independence. So look for a big turnout

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Speaker 12: night and look for a big turnout among independents who

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Speaker 12: go her way. That'll be the key for Nicky Haley

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Speaker 12: to get a close second or a surprise win in

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Speaker 12: New Hampshire.

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Speaker 1: And some people may not realize this, but you have

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Speaker 1: about two hundred and sixty five thousand registered Democratic and

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Speaker 1: Republican voters and you have about three hundred and fifty

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Speaker 1: thousand independents. So there's a lot of muscle there that

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Speaker 1: can swing in a certain direction. But the question I

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Speaker 1: think is has she done the leg work there? Because

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Speaker 1: that was one of the issues, was that in the

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Speaker 1: past you had debates where somebody like Clinton performed very well,

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Speaker 1: or you had somebody who was on the road in

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Speaker 1: New Hampshire a lot. Did Nicki Haley put in that work?

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Speaker 12: She put in work. But we do hear people here

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Speaker 12: saying that they wish she had gone against Trump's very

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Speaker 12: hard to do given how this party is constructed now,

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Speaker 12: but they wish she had gone stronger against Trump. And

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Speaker 12: to your point, they wish that she had taken every

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Speaker 12: opportunity to be on the airwaves. Now that said, she

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Speaker 12: does have a lot of money and a lot of support.

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Speaker 12: She spent four million in or she is spending four

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Speaker 12: million in advertising here Justin's Iowa. And if they can

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Speaker 12: get out you know, the Secretary of State here saying

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Speaker 12: there's about maybe three hundred and twenty thousand plus the

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Speaker 12: American for Prosperity packs saying they'd be more in terms

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Speaker 12: of turnout on Tuesday. That would really hold her in

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Speaker 12: good stead to get the numbers that she needs. An

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Speaker 12: uphill battle, but if she can have something of a

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Speaker 12: perfect night here, that is still possible. And again New Hampshire,

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Speaker 12: herites will tell you all the time they like to

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Speaker 12: deliver surprises. They don't like the media or anybody else

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Speaker 12: commentators in other words, to say that they knew what

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Speaker 12: was going to happen in New Hampshire, so there could

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Speaker 12: be a surprise here.

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Speaker 2: Look at some of the political action committees and I'm

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Speaker 2: thinking of the one that is Coke backed in particular.

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Speaker 2: What type of support broad support does Haley enjoy.

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Speaker 12: She enjoys enormous support, both on the airwaves and importantly

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Speaker 12: in terms of organizations. Since this is now and has

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Speaker 12: been for a while a battle of turnout that's critically important.

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Speaker 12: And another thing she has on her side, or I

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Speaker 12: should say person, is the governor, very popular Kristanunu, who

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Speaker 12: has endorsed her and has been out on the airwaves.

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Speaker 12: He is very popular with independent moderates, of course, Republicans

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Speaker 12: and some Democrats. And of course when you are a

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Speaker 12: sitting governor with the support he has, you also have

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Speaker 12: a ground game. So she may benefit from that ground

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Speaker 12: game as well. And we haven't mentioned this, but she

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Speaker 12: did get an important endorsement today from the New Hampshire

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Speaker 12: Union Leader. It's a conservative editorial board. They endorsed her

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Speaker 12: today and so she is getting support here in New

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Speaker 12: Hampshire on the ground. An organizationally that can help her.

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