1 00:00:01,200 --> 00:00:05,920 Speaker 1: Live from our Nation's how do we reopen this economy? 2 00:00:06,000 --> 00:00:09,119 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:09,240 --> 00:00:12,240 Speaker 1: does this do for the United States relationship with China? 4 00:00:12,400 --> 00:00:17,320 Speaker 1: Bloomberg Sound On, The Insiders, the Influencers, the inside. We're 5 00:00:17,360 --> 00:00:20,560 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:20,680 --> 00:00:24,200 Speaker 1: never before. We're looking at seventy kennidates for different vaccines. 7 00:00:24,280 --> 00:00:26,960 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:27,000 --> 00:00:31,080 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:31,160 --> 00:00:35,440 Speaker 1: Surrelate on Bloomberg and one oh five point seven f 10 00:00:35,560 --> 00:00:38,280 Speaker 1: m h D two by Dan says they're gonna have 11 00:00:38,320 --> 00:00:41,879 Speaker 1: a TikTok I p O within a year. The latest 12 00:00:41,920 --> 00:00:45,200 Speaker 1: on TikTok and Sipius. All of that, plus new hope 13 00:00:45,240 --> 00:00:48,880 Speaker 1: for fiscal stimulus and Joe Biden gets ready to unveil 14 00:00:49,600 --> 00:00:53,440 Speaker 1: his own economic plan. We have the live the deep 15 00:00:53,479 --> 00:00:56,360 Speaker 1: dive on that, plus my exclusive interview with Ken Cucinelli. 16 00:00:56,560 --> 00:00:58,840 Speaker 1: What does it mean for escalating tensions between the US 17 00:00:58,920 --> 00:01:01,240 Speaker 1: and China? Lots to get coming up. We're gonna have 18 00:01:01,280 --> 00:01:04,959 Speaker 1: the latest on that TikTok developments, as well as what's 19 00:01:04,959 --> 00:01:07,440 Speaker 1: going on with the fiscal stimulus. But earlier this week 20 00:01:07,480 --> 00:01:09,360 Speaker 1: I spoke to ken Ku Chinelli. He of course is 21 00:01:09,360 --> 00:01:13,440 Speaker 1: the acting Homeland Security Deputy Secretary, and I asked him 22 00:01:13,440 --> 00:01:18,120 Speaker 1: about the government's plan to possibly sees all cotton imports 23 00:01:18,120 --> 00:01:20,840 Speaker 1: from china Shinchang region. This would be a move to 24 00:01:20,840 --> 00:01:24,440 Speaker 1: penalize Beijing for the treatment of the minority weaker group 25 00:01:24,480 --> 00:01:26,679 Speaker 1: and well, take a listen to take a listen to 26 00:01:26,680 --> 00:01:32,160 Speaker 1: the conversation. You have just announced some incredibly important measures 27 00:01:32,200 --> 00:01:37,200 Speaker 1: known as withholding release orders for China in response to 28 00:01:37,240 --> 00:01:40,880 Speaker 1: the Communist Party of China's human rights abuses against the 29 00:01:40,920 --> 00:01:44,360 Speaker 1: weaker Muslim minorities. Explain to us, sir, what you did 30 00:01:45,240 --> 00:01:48,880 Speaker 1: so specifically, it isn't just because the Communist Party of 31 00:01:48,960 --> 00:01:54,320 Speaker 1: China is running concentration camps with wagers and others um 32 00:01:54,400 --> 00:01:58,400 Speaker 1: what they considered dissidents, um, but that we have targeted 33 00:01:58,480 --> 00:02:03,080 Speaker 1: specific facilities and specific companies who we have more than 34 00:02:03,240 --> 00:02:07,440 Speaker 1: enough evidence to demonstrate are participating in the slave labor 35 00:02:08,200 --> 00:02:11,519 Speaker 1: effort of the Chinese Communist Party. And in fact, one 36 00:02:11,560 --> 00:02:14,200 Speaker 1: of the withhold release orders, which we refer to as 37 00:02:14,400 --> 00:02:18,799 Speaker 1: w r os UH, is directed at a Chinese Communist 38 00:02:18,880 --> 00:02:23,000 Speaker 1: Party entity. It is a what they call a vocational 39 00:02:23,160 --> 00:02:28,000 Speaker 1: education center, what we call a concentration camp, and they 40 00:02:28,040 --> 00:02:31,120 Speaker 1: are providing that's Lop County number four. If you look 41 00:02:31,160 --> 00:02:34,000 Speaker 1: at the list of the w r os, they're providing 42 00:02:34,480 --> 00:02:39,120 Speaker 1: slave labor to two other entities in the same industrial park, 43 00:02:39,639 --> 00:02:44,239 Speaker 1: which the Customs Border Protection CBP has also issued w 44 00:02:44,560 --> 00:02:47,000 Speaker 1: r O s against. So the total value of the 45 00:02:47,000 --> 00:02:51,480 Speaker 1: trade involved here is around four hundred million dollars annually UM. 46 00:02:51,639 --> 00:02:56,760 Speaker 1: And this is what I would call the continuation of 47 00:02:57,680 --> 00:03:00,760 Speaker 1: investigations that have been run by the US government and 48 00:03:00,880 --> 00:03:04,480 Speaker 1: our partners. We we refer to you all in the 49 00:03:04,520 --> 00:03:08,639 Speaker 1: media the information you gather, as well as we work 50 00:03:08,680 --> 00:03:11,800 Speaker 1: with our partners like the Australians and who have been 51 00:03:11,800 --> 00:03:14,600 Speaker 1: really aggressive in this area and n g O S 52 00:03:14,680 --> 00:03:19,000 Speaker 1: to gather the information necessary to demonstrate facility by facility, 53 00:03:19,440 --> 00:03:23,040 Speaker 1: company by company that they're using the slave labor for 54 00:03:23,080 --> 00:03:26,520 Speaker 1: their own profit and to the disadvantage of American workers 55 00:03:26,520 --> 00:03:31,880 Speaker 1: and businesses. The overwhelming majority of cotton exports from China 56 00:03:32,120 --> 00:03:35,240 Speaker 1: are come from the Shinchang region UH and the US. 57 00:03:35,480 --> 00:03:40,040 Speaker 1: A considerable amount of cotton that the US gets into 58 00:03:40,080 --> 00:03:44,080 Speaker 1: the country comes from the shin Chang region. How how 59 00:03:44,120 --> 00:03:48,160 Speaker 1: would these w r os impact the cotton market. So 60 00:03:48,320 --> 00:03:51,280 Speaker 1: the biggest hit of the five w r os is 61 00:03:51,320 --> 00:03:55,760 Speaker 1: actually on a computer manufacturer UM and to their credit, 62 00:03:56,440 --> 00:03:59,160 Speaker 1: through the course of this process, Lenovo, one of the 63 00:03:59,240 --> 00:04:04,320 Speaker 1: firms you would recognize, UH disentangled itself from that provider 64 00:04:04,360 --> 00:04:06,840 Speaker 1: in terms of imports to the United States. So this 65 00:04:06,920 --> 00:04:10,839 Speaker 1: is already having an effect. There are cotton providers jung 66 00:04:10,880 --> 00:04:14,680 Speaker 1: Are Cotton and others UM and we continue to look 67 00:04:15,320 --> 00:04:20,679 Speaker 1: at the whole region because this entire region is really 68 00:04:20,720 --> 00:04:24,760 Speaker 1: operated and very heavily under this slave labor force labor regime. 69 00:04:25,200 --> 00:04:29,760 Speaker 1: And we're doing the the analysis of the possibility of 70 00:04:29,760 --> 00:04:33,200 Speaker 1: a region y w R O and cotton. And to 71 00:04:33,360 --> 00:04:39,080 Speaker 1: your point, Kevin, of China's cotton production can trace back 72 00:04:39,200 --> 00:04:43,640 Speaker 1: to the Shinjong province, so that would be a huge 73 00:04:44,120 --> 00:04:48,120 Speaker 1: huge change. We're also, by the way, working on technology 74 00:04:48,160 --> 00:04:50,360 Speaker 1: that in the not too distant future will allow us 75 00:04:50,400 --> 00:04:54,679 Speaker 1: to identify whether a particular product traces its cotton back 76 00:04:55,160 --> 00:04:58,480 Speaker 1: to that region. Along with the products. I want to 77 00:04:58,480 --> 00:05:01,840 Speaker 1: get to technology in a second. Just sticking with with textile, 78 00:05:01,920 --> 00:05:04,360 Speaker 1: sticking with with cotton just for a second, because the 79 00:05:04,400 --> 00:05:06,960 Speaker 1: impact that that would have that regional w r O 80 00:05:07,040 --> 00:05:12,560 Speaker 1: would have on on the retail industry, on on retailer 81 00:05:12,720 --> 00:05:16,120 Speaker 1: retailers across the country and the supply chain in particular, 82 00:05:16,320 --> 00:05:19,960 Speaker 1: as well as contact tracing technology in order to track 83 00:05:20,279 --> 00:05:24,359 Speaker 1: cotton as well. You know this, I mean many US 84 00:05:24,440 --> 00:05:28,920 Speaker 1: businesses are carefully watching and monitoring what that w r 85 00:05:28,960 --> 00:05:32,880 Speaker 1: O would look like. Are you factoring in the economic 86 00:05:33,160 --> 00:05:37,360 Speaker 1: impact that it would have on US businesses uh in 87 00:05:37,640 --> 00:05:42,520 Speaker 1: in your investigation? A no is the short answer, um 88 00:05:42,880 --> 00:05:46,479 Speaker 1: you know to the longer answer is yes. If you 89 00:05:46,560 --> 00:05:49,560 Speaker 1: look back a few months, we issued a business advisory 90 00:05:49,600 --> 00:05:52,800 Speaker 1: the Department Homeland Security together with the Departments of State, 91 00:05:53,200 --> 00:05:57,400 Speaker 1: Labor and Treasury and really broadcast to the business community 92 00:05:57,800 --> 00:06:01,799 Speaker 1: the major problems in would do business with a supply 93 00:06:01,880 --> 00:06:05,480 Speaker 1: chain that reaches into the Shinjong province and um So 94 00:06:05,520 --> 00:06:09,920 Speaker 1: we really do want to encourage businesses to disentangle themselves 95 00:06:10,600 --> 00:06:14,640 Speaker 1: with these human rights abuses, recognizing they don't all have 96 00:06:15,120 --> 00:06:19,480 Speaker 1: perfect transparency uh into their own supply chains. And so 97 00:06:19,600 --> 00:06:22,520 Speaker 1: what we have seen in part is a greater effort 98 00:06:22,600 --> 00:06:25,720 Speaker 1: on the part of respectable businesses to determine that question 99 00:06:25,800 --> 00:06:29,240 Speaker 1: and to make adjustments. I mentioned Lenovo for instance, as 100 00:06:29,279 --> 00:06:32,880 Speaker 1: one example in the computer arena. It will have a 101 00:06:32,920 --> 00:06:37,240 Speaker 1: significant impact as we continue to expand the investigations and 102 00:06:37,279 --> 00:06:41,600 Speaker 1: efforts in the content textile industry. UM and in fact, 103 00:06:42,279 --> 00:06:45,640 Speaker 1: let's face it, that's the point, right, is that Americans 104 00:06:45,680 --> 00:06:48,240 Speaker 1: don't want to be doing business and don't want to 105 00:06:48,279 --> 00:06:52,000 Speaker 1: be consumers even entangled with this sort of slave labor, 106 00:06:52,480 --> 00:06:56,280 Speaker 1: with these concentration camps and the w r os are 107 00:06:56,320 --> 00:06:59,560 Speaker 1: designed to break that connection. And before I guess the 108 00:06:59,600 --> 00:07:02,919 Speaker 1: technolog just what is your message to the American consumer 109 00:07:03,000 --> 00:07:07,320 Speaker 1: who is purchasing hair extension products, who is purchasing a 110 00:07:07,640 --> 00:07:11,640 Speaker 1: clothing caught and clothing what should should they know when 111 00:07:11,680 --> 00:07:16,960 Speaker 1: they make those purchases. Well, you know, we don't necessarily 112 00:07:16,960 --> 00:07:19,440 Speaker 1: expect people to figure out the supply chain of every 113 00:07:19,440 --> 00:07:21,920 Speaker 1: product they work on. But the best thing they can 114 00:07:21,960 --> 00:07:25,600 Speaker 1: do is if, as most Americans do, they feel strongly 115 00:07:25,640 --> 00:07:28,880 Speaker 1: against the use of slave labor, of forced labor, that 116 00:07:29,000 --> 00:07:32,360 Speaker 1: they let that be known because businesses that they buy 117 00:07:32,480 --> 00:07:35,800 Speaker 1: from will respond to them. And uh, look, we all 118 00:07:35,840 --> 00:07:37,200 Speaker 1: know this, any of us who have been in the 119 00:07:37,200 --> 00:07:41,560 Speaker 1: private sector. The customer is always right, is uh is 120 00:07:41,640 --> 00:07:47,360 Speaker 1: a ancient mantra, And with enough customer pressure of businesses 121 00:07:47,440 --> 00:07:50,800 Speaker 1: change their course even if they aren't themselves inclined to 122 00:07:50,840 --> 00:07:54,440 Speaker 1: do so. Now, I will say that our experience is 123 00:07:54,880 --> 00:07:59,440 Speaker 1: that when educated UH, the vast majority of American based 124 00:07:59,440 --> 00:08:04,480 Speaker 1: businesses is UH do want to extricate themselves from these relationships. 125 00:08:04,760 --> 00:08:09,560 Speaker 1: To your earlier point, Kevin, that can be challenging for them, nonetheless, 126 00:08:10,120 --> 00:08:13,440 Speaker 1: which includes driving prices up and other there are other factors, 127 00:08:13,520 --> 00:08:15,960 Speaker 1: and we have to accept that that's going to happen. 128 00:08:16,360 --> 00:08:20,080 Speaker 1: But the price goes up, UM because we drive them 129 00:08:20,080 --> 00:08:22,559 Speaker 1: to a to a fair market as opposed to using 130 00:08:22,600 --> 00:08:26,240 Speaker 1: slave labor. UM. The point of slave labor is to 131 00:08:26,280 --> 00:08:29,480 Speaker 1: gain a price advantage and to oppress the people involved, 132 00:08:29,920 --> 00:08:33,280 Speaker 1: and both of those things happen to the disadvantage of 133 00:08:33,280 --> 00:08:36,920 Speaker 1: our workers and our businesses, UM. And I believe and 134 00:08:36,960 --> 00:08:41,120 Speaker 1: the President strongly believes that American consumers are willing to 135 00:08:41,160 --> 00:08:44,480 Speaker 1: accept the disruption and to accept somewhat higher prices to 136 00:08:44,600 --> 00:08:48,280 Speaker 1: avoid slave labor. That was my interview from earlier this 137 00:08:48,320 --> 00:08:51,559 Speaker 1: week with Kenkuchennelli. He of course is the acting Homeland 138 00:08:51,600 --> 00:08:54,720 Speaker 1: Security Deputy Secretary, and we talked a lot about UH 139 00:08:54,920 --> 00:08:57,640 Speaker 1: exports textiles and what in fact that would have on 140 00:08:57,640 --> 00:09:01,800 Speaker 1: the supply chain, especially for retailers all across the country. 141 00:09:01,880 --> 00:09:05,640 Speaker 1: They're still uh analyzing just the effect that that would 142 00:09:05,679 --> 00:09:09,040 Speaker 1: have should they have that withholding release of order over 143 00:09:09,080 --> 00:09:12,560 Speaker 1: the entire Shenjang region because of the human rights abuses 144 00:09:12,600 --> 00:09:16,400 Speaker 1: that are occurring against the weaker Muslim minorities in the 145 00:09:16,480 --> 00:09:19,880 Speaker 1: Shinjang region. Coming up, we talked about the economy. Robert 146 00:09:19,880 --> 00:09:24,040 Speaker 1: Shapiro joins us. He's advised virtually every single Democratic candidate 147 00:09:24,320 --> 00:09:27,079 Speaker 1: in the past several decades, and we're gonna ask him 148 00:09:27,120 --> 00:09:30,600 Speaker 1: about Joe Biden's economic plan as well as what's going 149 00:09:30,679 --> 00:09:35,439 Speaker 1: on in the markets, and they continued uh stock slumps 150 00:09:35,520 --> 00:09:37,680 Speaker 1: most in the week. With the market trap, We're gonna 151 00:09:37,679 --> 00:09:40,559 Speaker 1: get a complete market trap from our friend Robert Shapiro. 152 00:09:41,000 --> 00:09:44,679 Speaker 1: Download the Bloomberg Sounds on podcast on Apple iTunes, at 153 00:09:44,679 --> 00:09:48,040 Speaker 1: Bloomberg dot com, or by downloading the Bloomberg Business App. 154 00:09:48,120 --> 00:09:51,160 Speaker 1: You can also find me on Amazon dot com, UH 155 00:09:51,480 --> 00:09:55,880 Speaker 1: radio dot com, and Spotify and wherever you get your Bloomberg. 156 00:09:56,280 --> 00:09:58,240 Speaker 1: Did you see this? I just got this headline. I 157 00:09:58,240 --> 00:10:02,120 Speaker 1: saw it on the social media feeds. Jim Kerry, Jim 158 00:10:02,200 --> 00:10:06,560 Speaker 1: Carrey of Dumb and Dumber. Great great movie, Jim Carrey's 159 00:10:06,559 --> 00:10:11,280 Speaker 1: gonna play Joe Biden Saturday Night Live. Can't make it up, 160 00:10:11,960 --> 00:10:17,280 Speaker 1: cannot make it up. I'll be watching, I will be watching. 161 00:10:17,480 --> 00:10:41,079 Speaker 1: You're listening to Bloomberg. You're listening to Bloomberg Sound On 162 00:10:41,160 --> 00:10:45,160 Speaker 1: with Kevin Surrele on Bloomberg and one oh five point 163 00:10:45,240 --> 00:10:48,640 Speaker 1: seven FM h D two. My name is Kevin Currell. 164 00:10:48,760 --> 00:10:52,079 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 165 00:10:52,160 --> 00:10:56,880 Speaker 1: Bloomberg Radio. Tomorrow, I'm gonna check in with Senator Chris Coons, 166 00:10:56,880 --> 00:11:02,120 Speaker 1: Democrat Delaware. He's friendly with Joe Biden, who of course 167 00:11:02,200 --> 00:11:05,679 Speaker 1: is the Democratic presidential nominee for president. Let's get a 168 00:11:05,760 --> 00:11:08,560 Speaker 1: check on the market's. US stocks fell and treasuries gained 169 00:11:08,559 --> 00:11:13,000 Speaker 1: as investors mold whether the levels of stimulus being provided 170 00:11:13,080 --> 00:11:16,599 Speaker 1: are enough amid a gradual economic recovery. Reading from the 171 00:11:16,600 --> 00:11:19,920 Speaker 1: Bloomberg terminal, the benchmark SMP five hundred dropped for a 172 00:11:20,040 --> 00:11:25,160 Speaker 1: second day that it found some support after bouncing off 173 00:11:25,240 --> 00:11:28,720 Speaker 1: it's fifty day moving average. Technology shares were the biggest decliners, 174 00:11:28,720 --> 00:11:33,679 Speaker 1: with Apple, Facebook, and Microsoft Wang on the NASA deck. Composite. 175 00:11:33,720 --> 00:11:36,400 Speaker 1: Investors snapped up long term treasuries capturing a brief spike 176 00:11:36,480 --> 00:11:39,400 Speaker 1: higher in the yields following the Federal reserves policy decision 177 00:11:39,440 --> 00:11:42,640 Speaker 1: on Wednesday. All right, so I say all of that 178 00:11:42,720 --> 00:11:47,280 Speaker 1: because I want to bring in our next guest, Robert Shapiro. 179 00:11:47,600 --> 00:11:50,480 Speaker 1: Robert Shapiro is chairman of Sonic Con and former senior 180 00:11:50,520 --> 00:11:54,760 Speaker 1: economic advisor for Democratic presidential candidates, including Bill Clinton and 181 00:11:54,880 --> 00:11:59,360 Speaker 1: Barack oh Obama. Mr Shapiro, welcome back to the program. 182 00:11:59,360 --> 00:12:04,360 Speaker 1: What happened in the markets today? Well, the markets basically 183 00:12:05,320 --> 00:12:09,800 Speaker 1: liked what the Fed said, and but also took caution 184 00:12:09,960 --> 00:12:14,280 Speaker 1: from what the Fed said. What the Fed said was 185 00:12:14,840 --> 00:12:18,360 Speaker 1: they were going to keep interest rates very low for 186 00:12:18,480 --> 00:12:24,520 Speaker 1: at least two to three more years. And that's On 187 00:12:24,559 --> 00:12:28,760 Speaker 1: the one hand, markets like low interest rates tiki stock 188 00:12:28,840 --> 00:12:33,320 Speaker 1: markets because you can't get anything from bonds when interest 189 00:12:33,400 --> 00:12:37,640 Speaker 1: rates of that low. UM. On the other hand, they 190 00:12:37,679 --> 00:12:41,480 Speaker 1: recognize what it means, and what it means is that 191 00:12:43,000 --> 00:12:47,360 Speaker 1: the FED see structural damage to the economy that will 192 00:12:47,360 --> 00:12:51,680 Speaker 1: take several years to repair, and that's not so great 193 00:12:51,679 --> 00:12:58,080 Speaker 1: for profits. So, UM, it's a it's a mixed message. UM. 194 00:12:58,120 --> 00:13:02,160 Speaker 1: It is interesting. Incidentally, you know this is what the 195 00:13:02,240 --> 00:13:07,239 Speaker 1: FED and the economy economists who follow it call forward guidance. 196 00:13:07,800 --> 00:13:09,840 Speaker 1: We're going to tell you what we're going to do 197 00:13:09,880 --> 00:13:14,240 Speaker 1: in the future. This is a total reversal of many, many, 198 00:13:14,280 --> 00:13:20,040 Speaker 1: many decades of uh FED policy. The Fed used to 199 00:13:20,080 --> 00:13:25,559 Speaker 1: be incredibly secretive. The view was that if they said 200 00:13:26,040 --> 00:13:30,360 Speaker 1: what they were going to do, then the markets would 201 00:13:30,400 --> 00:13:36,080 Speaker 1: in effect um offset it and take it into account 202 00:13:36,200 --> 00:13:40,559 Speaker 1: before they actually did it, and so consequently they try 203 00:13:40,640 --> 00:13:47,080 Speaker 1: to be mysterious um and um. The FED has under 204 00:13:47,160 --> 00:13:53,280 Speaker 1: Janet Yellen, they shifted to forward guidance, saying, look, everybody 205 00:13:53,320 --> 00:13:57,520 Speaker 1: knows we're in a very tough period, and what we 206 00:13:57,600 --> 00:14:01,520 Speaker 1: need to do is give a insurance to the markets 207 00:14:02,080 --> 00:14:04,719 Speaker 1: that will give us a little more stability. And we 208 00:14:04,840 --> 00:14:09,520 Speaker 1: got some economic indicators today, Mr Shapiro. The number of 209 00:14:09,559 --> 00:14:14,560 Speaker 1: Americans applying for jobless benefits resumed its declined, signaling a 210 00:14:14,640 --> 00:14:19,600 Speaker 1: gradual improvement in the battered labor market. Uh The number 211 00:14:19,640 --> 00:14:23,880 Speaker 1: of people who in regular state programs for jobless claims 212 00:14:23,920 --> 00:14:27,000 Speaker 1: decreased by thirty three thousand to eight hundred and sixty 213 00:14:27,600 --> 00:14:33,400 Speaker 1: thousand Americans in the week that ended September twelve, which 214 00:14:33,480 --> 00:14:37,400 Speaker 1: coincides uh with the reference period for the government's monthly 215 00:14:37,520 --> 00:14:40,960 Speaker 1: Jobs report. Continuing claims are The total number of Americans 216 00:14:40,960 --> 00:14:44,440 Speaker 1: on state benefit rolls rolls of fell by almost one 217 00:14:44,480 --> 00:14:46,720 Speaker 1: million to twelve point six million in the week that 218 00:14:46,920 --> 00:14:50,240 Speaker 1: ended UH September five. So I want to get your 219 00:14:50,240 --> 00:14:54,560 Speaker 1: reaction to that. But our Bloomberg economist Eliza Winger wrote, 220 00:14:54,880 --> 00:14:57,480 Speaker 1: the recovery in the labor market appears to be slowing 221 00:14:57,520 --> 00:15:01,720 Speaker 1: but not reversing. Still jobs out of remains welsh shy 222 00:15:01,760 --> 00:15:04,440 Speaker 1: of the pre pandemic peak, and well targeted fiscal aid 223 00:15:04,560 --> 00:15:08,240 Speaker 1: is needed to sustain momentum and spending through year and 224 00:15:08,480 --> 00:15:11,360 Speaker 1: into So they, I mean, all of this says that 225 00:15:11,440 --> 00:15:15,920 Speaker 1: they need they need more fiscal stimulus coming from d C. Absolutely, 226 00:15:15,960 --> 00:15:21,400 Speaker 1: they need more fiscal stimulus. They need to support spending 227 00:15:21,560 --> 00:15:26,200 Speaker 1: by tens of millions of households. They need to support 228 00:15:26,280 --> 00:15:32,320 Speaker 1: the continued operations of hundreds of thousands of businesses. Uh 229 00:15:32,480 --> 00:15:36,960 Speaker 1: this economy. I mean, look, eight hundred sixty thousand or 230 00:15:37,000 --> 00:15:40,680 Speaker 1: whatever it was in the last week UM is better 231 00:15:40,760 --> 00:15:44,560 Speaker 1: than when it was one million to one point two 232 00:15:44,680 --> 00:15:48,360 Speaker 1: or three million per week. But over eight hundred thousands 233 00:15:48,400 --> 00:15:51,800 Speaker 1: of new unemployment claims in a week would be would 234 00:15:51,840 --> 00:15:56,680 Speaker 1: have been catastrophic news at any other time. Um, it's 235 00:15:56,720 --> 00:16:00,640 Speaker 1: still greater than what we saw in the financial crisis, 236 00:16:01,160 --> 00:16:04,200 Speaker 1: with the exception of a couple of weeks. So this 237 00:16:04,360 --> 00:16:09,120 Speaker 1: is a very injured economy we're dealing with now. Uh 238 00:16:09,280 --> 00:16:12,000 Speaker 1: you know, I am, I was just looking at some 239 00:16:12,120 --> 00:16:21,880 Speaker 1: data and at manufacturing jobs, and you know, until um February, 240 00:16:22,400 --> 00:16:28,320 Speaker 1: Trump had a decent record or manufacturing jobs, had added 241 00:16:29,480 --> 00:16:36,320 Speaker 1: a couple of hundred thousand jobs brought since January, and 242 00:16:36,480 --> 00:16:46,080 Speaker 1: today he's two fifty jobs below January. So it not 243 00:16:46,120 --> 00:16:50,880 Speaker 1: only wiped out every all the progress done in manufacturing 244 00:16:51,000 --> 00:16:57,240 Speaker 1: jobs under him, it wiped out almost all the progress 245 00:16:57,360 --> 00:17:03,280 Speaker 1: made in manufacturing jobs, um, in the last four years 246 00:17:03,320 --> 00:17:07,600 Speaker 1: of the Obama administration. So this is so you're winking 247 00:17:07,600 --> 00:17:12,280 Speaker 1: out seven years of job gains in manufacturing. Why is that? 248 00:17:12,320 --> 00:17:16,000 Speaker 1: I mean? Is that? Is that? And I say this respectful, 249 00:17:16,040 --> 00:17:19,159 Speaker 1: I mean is that because of structural changes regardless of 250 00:17:19,200 --> 00:17:25,680 Speaker 1: which political party occupies the White House? Um? No, it's 251 00:17:25,920 --> 00:17:31,199 Speaker 1: it's because of damage that's been done recently. UM to 252 00:17:31,480 --> 00:17:37,399 Speaker 1: the now. If you mean would it have um, would 253 00:17:37,400 --> 00:17:42,640 Speaker 1: it have happened under a democratic president? Well, there would 254 00:17:42,640 --> 00:17:47,919 Speaker 1: have been certainly some losses, but UM, I think there 255 00:17:47,960 --> 00:17:50,720 Speaker 1: are very few people who are not who don't work 256 00:17:50,760 --> 00:17:55,320 Speaker 1: for either the administration or the Republican Party, who would 257 00:17:55,400 --> 00:18:02,080 Speaker 1: claim that the management of this crisis by by this 258 00:18:02,240 --> 00:18:10,359 Speaker 1: administration um has been not only terrible but consequently imposed 259 00:18:11,119 --> 00:18:18,400 Speaker 1: much greater economic costs than if like every other advanced country, 260 00:18:18,520 --> 00:18:22,800 Speaker 1: we had taken the steps, both by government and as 261 00:18:22,840 --> 00:18:28,640 Speaker 1: a society to bring this under control a lot sooner. 262 00:18:28,800 --> 00:18:30,280 Speaker 1: All right, So let me ask you this, Let me 263 00:18:30,400 --> 00:18:34,040 Speaker 1: let me let me get your your your get on 264 00:18:34,040 --> 00:18:36,520 Speaker 1: your prediction cap. Do you think that there will there 265 00:18:36,560 --> 00:18:38,639 Speaker 1: will be more fiscal stimulus and we only got like 266 00:18:38,720 --> 00:18:40,440 Speaker 1: ninety left. Do you think there's going to be more 267 00:18:40,440 --> 00:18:44,240 Speaker 1: fiscal stimulus before the November three election or is it 268 00:18:44,240 --> 00:18:46,720 Speaker 1: going to wait until after the results of the election. 269 00:18:47,320 --> 00:18:50,280 Speaker 1: I think there will be more fiscal stimulus. Yes, I 270 00:18:50,280 --> 00:18:53,240 Speaker 1: think there'll be more stimulus before the election. And I 271 00:18:53,280 --> 00:18:57,600 Speaker 1: think in fact, the White House is trying to time 272 00:18:57,600 --> 00:19:02,560 Speaker 1: it of so that at the stimulus hits, you know, 273 00:19:02,720 --> 00:19:07,760 Speaker 1: in in the last month UM before the election. To 274 00:19:07,920 --> 00:19:09,800 Speaker 1: do so, they need to reach a deal in the 275 00:19:09,840 --> 00:19:13,040 Speaker 1: next couple of weeks. In the next two weeks UM. 276 00:19:13,400 --> 00:19:19,560 Speaker 1: There will also be more if uma, particularly if Vice 277 00:19:19,600 --> 00:19:23,920 Speaker 1: President Biden is elected, they will be more much more 278 00:19:24,000 --> 00:19:29,640 Speaker 1: physical stimulus u uh in uh giants starting in January, 279 00:19:29,680 --> 00:19:32,840 Speaker 1: which is exactly what the Fed has said it needs. 280 00:19:33,080 --> 00:19:35,120 Speaker 1: All Right, we're gonna leave it there. Robert Shapiro, Chairman, 281 00:19:35,160 --> 00:19:38,520 Speaker 1: a sonic of former senior economic advisor for Democratic presidential candidates, 282 00:19:38,560 --> 00:19:42,879 Speaker 1: including former president's Bill Clinton and Barack Obama, whose new memoir, 283 00:19:43,000 --> 00:19:45,919 Speaker 1: two part memoir is going to come out after November three, 284 00:19:45,960 --> 00:19:49,600 Speaker 1: in the week right before Thanksgiving. More Next, I'm Kevin's 285 00:19:49,720 --> 00:19:52,440 Speaker 1: really chief Washington corresponded from Blomber TV and Radio. You're 286 00:19:52,480 --> 00:20:09,480 Speaker 1: listening to Bloomberg one. Why from our nation's camera? How 287 00:20:09,520 --> 00:20:13,280 Speaker 1: do we reopen this economy? The latest on how this 288 00:20:13,400 --> 00:20:16,359 Speaker 1: pandemic is impacting farmers? What does this do for the 289 00:20:16,480 --> 00:20:21,160 Speaker 1: United States relationship with China? Bloomberg sound on, the insiders, 290 00:20:21,359 --> 00:20:24,960 Speaker 1: the influencers, the insides. We're responding to this crisis and 291 00:20:25,080 --> 00:20:28,400 Speaker 1: manufacturers are stepping up like never before. We're looking at 292 00:20:28,440 --> 00:20:31,480 Speaker 1: seventy Kennedys for different vaccines. How do we make sure 293 00:20:31,680 --> 00:20:35,119 Speaker 1: a pandemic of this scale never happens again? This is 294 00:20:35,119 --> 00:20:40,560 Speaker 1: Bloomberg Sound On with Kevin Surrelate on Bloomberg and one 295 00:20:40,560 --> 00:20:43,040 Speaker 1: oh five point seven f M h D two, the 296 00:20:43,119 --> 00:20:46,760 Speaker 1: latest on TikTok and the US China relations, plus the 297 00:20:46,800 --> 00:20:50,200 Speaker 1: complete markets wrap and the need for more fiscal stimulus. 298 00:20:50,280 --> 00:20:52,480 Speaker 1: Are they going to get it? All of that? Plus 299 00:20:52,560 --> 00:20:55,760 Speaker 1: Joe Biden unveils a new economic plan ahead of this 300 00:20:55,840 --> 00:20:59,600 Speaker 1: town hall tonight, and we check in with one Republican 301 00:20:59,640 --> 00:21:03,840 Speaker 1: from a Zona in a state that now could turn blue. 302 00:21:03,880 --> 00:21:07,280 Speaker 1: A lot to get through. Let's start with the economy tonight, folks. 303 00:21:07,320 --> 00:21:12,000 Speaker 1: This ahead of Joe Biden, the Democratic presidential nominee. He's 304 00:21:12,000 --> 00:21:15,159 Speaker 1: speaking in that town hall seen in the town hall tonight. 305 00:21:15,480 --> 00:21:17,760 Speaker 1: He's going to talk about the economy. So here's where 306 00:21:17,800 --> 00:21:20,800 Speaker 1: things stand. Then, as Jack one hundreds sank as much 307 00:21:20,840 --> 00:21:23,719 Speaker 1: as two point eight percent on Thursday, dragged down by 308 00:21:23,720 --> 00:21:26,800 Speaker 1: a slump in the mega cap technology stocks that have 309 00:21:26,880 --> 00:21:32,000 Speaker 1: powered this year's rebound UH and the slide came after 310 00:21:32,040 --> 00:21:36,000 Speaker 1: the Fed policymakers pledged to keep interest rates low until 311 00:21:36,080 --> 00:21:40,480 Speaker 1: inflation averages m over two percent, while failing to give 312 00:21:40,520 --> 00:21:43,840 Speaker 1: any fresh details on the central banks bond buying plans. 313 00:21:43,840 --> 00:21:46,119 Speaker 1: All right, so that's what's happening with the Fed and 314 00:21:46,200 --> 00:21:49,960 Speaker 1: the markets. And then we got some new economic indicators 315 00:21:50,440 --> 00:21:54,280 Speaker 1: from jobless claims. Because jobless claims in regular state programs 316 00:21:54,320 --> 00:21:57,840 Speaker 1: decreased by thirty three thousand to eight hundred and sixty 317 00:21:57,920 --> 00:22:00,959 Speaker 1: thousand in the week that ended September twelve. That happens 318 00:22:01,000 --> 00:22:03,680 Speaker 1: to coincide with the reference period for the government's monthly 319 00:22:03,800 --> 00:22:11,520 Speaker 1: jobs report according to the Labor Department figures released earlier today. UM, 320 00:22:11,640 --> 00:22:15,720 Speaker 1: so it's still below a million, which is still rather 321 00:22:15,800 --> 00:22:19,240 Speaker 1: difficult to wrap your head around when it's we're talking 322 00:22:19,600 --> 00:22:24,119 Speaker 1: literally a million per week people filing for jobless claims, 323 00:22:24,119 --> 00:22:25,800 Speaker 1: and even during the peak of the two thousand and 324 00:22:25,840 --> 00:22:29,560 Speaker 1: eight recession, that was not uh, it wasn't even near there. 325 00:22:29,840 --> 00:22:33,040 Speaker 1: But regardless, that's where things stand. And it also is 326 00:22:33,080 --> 00:22:36,960 Speaker 1: where things stand because the Central Bank, Wall Street, mainstream, 327 00:22:37,000 --> 00:22:39,439 Speaker 1: everyone's pushing for there to be more fiscal stimulus to 328 00:22:39,480 --> 00:22:41,280 Speaker 1: come out of Washington, d C. And Speaker of the 329 00:22:41,280 --> 00:22:45,520 Speaker 1: House Nancy Pelosi, who was asked about this, uh, and 330 00:22:45,800 --> 00:22:48,359 Speaker 1: take a listen to what she said today. The fact 331 00:22:48,480 --> 00:22:51,760 Speaker 1: is we want to have an agreement, and we will 332 00:22:51,840 --> 00:22:56,159 Speaker 1: stay until we have an agreement. So I interpret that 333 00:22:56,200 --> 00:22:58,439 Speaker 1: based upon the conversations that I had yesterday with the 334 00:22:58,440 --> 00:23:02,159 Speaker 1: problem Solvers Caucus, Republics and Democrats as her starting to 335 00:23:02,200 --> 00:23:04,320 Speaker 1: feel some of the pressure, and not just Speaker polar 336 00:23:04,320 --> 00:23:07,760 Speaker 1: See the Democrats, but also Republican leadership as well starting 337 00:23:07,760 --> 00:23:09,840 Speaker 1: to feel some of the pressure that there needs to 338 00:23:09,880 --> 00:23:14,000 Speaker 1: be more fiscal stimulus at some point, and it likely 339 00:23:14,119 --> 00:23:18,760 Speaker 1: is going to have to happen before the November three election. 340 00:23:19,240 --> 00:23:22,240 Speaker 1: Matt Brooks returned to the program. He is a Republican 341 00:23:22,280 --> 00:23:26,520 Speaker 1: strategist and also the executive director of the Republican Jewish Coalition, 342 00:23:26,800 --> 00:23:30,960 Speaker 1: and Joel Ruben Democratic strategists and the former Deputy Assistant 343 00:23:31,000 --> 00:23:36,639 Speaker 1: Secretary for Legilative Legislative Affairs at the State Department. Matt, 344 00:23:36,840 --> 00:23:40,640 Speaker 1: are we getting fiscal stimulus? Yeah, we will get some 345 00:23:40,800 --> 00:23:44,640 Speaker 1: fiscal stimulus. Kevin, is is if you recall when we 346 00:23:44,640 --> 00:23:48,000 Speaker 1: were laughed on with with Joel. In fact, you know, 347 00:23:48,119 --> 00:23:49,720 Speaker 1: I made the point that this is a lot like 348 00:23:49,760 --> 00:23:53,480 Speaker 1: the government shutdown, and the interesting dynamic is this gets 349 00:23:53,520 --> 00:23:55,800 Speaker 1: more and more like the government shutdown because we're heading 350 00:23:55,880 --> 00:23:59,760 Speaker 1: toward another possible government shutdown if they don't get the 351 00:24:00,080 --> 00:24:04,040 Speaker 1: ending bill taken care of. So everything is coming together. Um, 352 00:24:04,119 --> 00:24:06,240 Speaker 1: I think this is pure politics on the part of 353 00:24:06,280 --> 00:24:11,080 Speaker 1: the of the Democrats. Neither Um Senate Leader Schumer nor 354 00:24:11,640 --> 00:24:15,560 Speaker 1: Speaker Pelosi, who have had ample opportunities to negotiate a deal, 355 00:24:16,800 --> 00:24:21,400 Speaker 1: have taken the steps to to meet the Republicans halfway 356 00:24:21,440 --> 00:24:25,080 Speaker 1: at all. Mark Meadows and Steve Manuchin have literally been 357 00:24:25,160 --> 00:24:28,160 Speaker 1: camped down in Congress, in the halls of Congress trying 358 00:24:28,160 --> 00:24:31,280 Speaker 1: to get a deal, uh, and the Democrats have refused 359 00:24:31,280 --> 00:24:33,639 Speaker 1: to play ball. And that's the biggest reason why we 360 00:24:33,680 --> 00:24:39,280 Speaker 1: don't have any UH stimulus bill right now, all right, Joel, 361 00:24:39,320 --> 00:24:43,080 Speaker 1: I mean in terms of their being just a very 362 00:24:43,160 --> 00:24:46,720 Speaker 1: narrow path for fiscal stimulus. Do you think that when 363 00:24:46,760 --> 00:24:50,280 Speaker 1: you hear Speaker Pelosi make those comments that they that 364 00:24:50,320 --> 00:24:52,880 Speaker 1: they're going to stay until they have an agreement, that's 365 00:24:52,880 --> 00:24:55,480 Speaker 1: a big, big sign that they're going to get something 366 00:24:55,520 --> 00:25:00,880 Speaker 1: before the election. Yeah, Kevin, I it's things like we're 367 00:25:00,920 --> 00:25:04,280 Speaker 1: turning a bit of a corner. And actually, I think Matt, 368 00:25:05,000 --> 00:25:07,119 Speaker 1: it was it was me who said that it was 369 00:25:07,119 --> 00:25:08,919 Speaker 1: going to come before the end of September, not you, 370 00:25:09,000 --> 00:25:15,159 Speaker 1: but joking, joking, we both agreed. We both agreed on 371 00:25:15,280 --> 00:25:19,159 Speaker 1: that at least, and you know, I think frankly, they 372 00:25:19,200 --> 00:25:21,480 Speaker 1: have to get it done before the end of of 373 00:25:21,480 --> 00:25:23,119 Speaker 1: of the month because then they want to get home, 374 00:25:23,119 --> 00:25:24,679 Speaker 1: and they want a politic and the last thing they 375 00:25:24,720 --> 00:25:27,399 Speaker 1: want to do is to go home and say that 376 00:25:27,480 --> 00:25:30,120 Speaker 1: you should return me to Congress when I didn't get 377 00:25:30,160 --> 00:25:33,720 Speaker 1: anything done for you. But the interesting dynamic is that 378 00:25:33,800 --> 00:25:36,520 Speaker 1: President Trump seems to be the one who's finally realizing 379 00:25:37,000 --> 00:25:39,080 Speaker 1: that needs to get done, and he's off the golf 380 00:25:39,080 --> 00:25:42,679 Speaker 1: course and he is deciding to publicly tell Republicans that 381 00:25:42,760 --> 00:25:45,240 Speaker 1: they need to move off of their their extreme bill 382 00:25:45,440 --> 00:25:48,200 Speaker 1: that that they haven't been able to get passed even 383 00:25:48,200 --> 00:25:51,240 Speaker 1: in their own chamber, and negotiate with the Democrats who've 384 00:25:51,240 --> 00:25:54,440 Speaker 1: had to build through the House into May. So hopefully 385 00:25:54,440 --> 00:25:57,159 Speaker 1: they're going to get something done. Hopefully. The President weighs 386 00:25:57,200 --> 00:26:00,440 Speaker 1: in and and Americans need this money. I mean, these 387 00:26:00,520 --> 00:26:04,480 Speaker 1: job numbers that you're citing are not good news. When 388 00:26:04,600 --> 00:26:07,480 Speaker 1: nearly a million people are finally for unemployment every month, 389 00:26:08,000 --> 00:26:12,679 Speaker 1: this country is again on the verge of another economic collapse. 390 00:26:12,760 --> 00:26:15,640 Speaker 1: We've just diverted one because of the last major stimulus 391 00:26:15,720 --> 00:26:18,399 Speaker 1: programs that were bipartisan. We need to get that done 392 00:26:18,840 --> 00:26:22,160 Speaker 1: a sap and hopefully yes, before the end of this month. Yeah, 393 00:26:22,640 --> 00:26:27,280 Speaker 1: it's you know, and I've I've always been very skeptical 394 00:26:27,359 --> 00:26:29,720 Speaker 1: about this notion that there's not going to be fiscal 395 00:26:29,720 --> 00:26:32,600 Speaker 1: stimulus by the end of the year. I am somewhat 396 00:26:32,760 --> 00:26:35,600 Speaker 1: skeptical that there wouldn't be some type of stimulus, maybe 397 00:26:35,640 --> 00:26:38,840 Speaker 1: not what everybody wants, but some type of stimulus by 398 00:26:38,960 --> 00:26:42,040 Speaker 1: by the November third election. I mean. Senator John Kennedy, 399 00:26:42,119 --> 00:26:47,160 Speaker 1: a Republican from Louisiana. Senator John Kennedy, a Republican from Louisiana. 400 00:26:47,200 --> 00:26:50,280 Speaker 1: He was asked about, you know, whether or not Republicans 401 00:26:50,320 --> 00:26:54,399 Speaker 1: are are are really willing to be on the hook 402 00:26:54,480 --> 00:26:57,640 Speaker 1: for funding some of these state and local governments because 403 00:26:57,640 --> 00:27:00,080 Speaker 1: this has been one of the thorniest sticking points of 404 00:27:00,119 --> 00:27:04,119 Speaker 1: Republicans for conservatives like Senator John Kennedy, and whether or 405 00:27:04,160 --> 00:27:06,520 Speaker 1: not Republicans should have to bail out some of these 406 00:27:06,560 --> 00:27:09,200 Speaker 1: more some of these states that have not been able 407 00:27:09,240 --> 00:27:12,760 Speaker 1: to to to have their fiscal house in order. That's 408 00:27:12,800 --> 00:27:15,760 Speaker 1: the conservative argument. Take a listen to Senator John Kennedy. 409 00:27:15,960 --> 00:27:17,560 Speaker 1: I don't want to do anything to hurt state and 410 00:27:17,640 --> 00:27:20,440 Speaker 1: local government. But state and local government's not my priority 411 00:27:20,520 --> 00:27:22,480 Speaker 1: right now. We already gave them a hundred and fifty 412 00:27:22,480 --> 00:27:27,560 Speaker 1: billion dollars. My priority is people and small businesses. So, 413 00:27:27,720 --> 00:27:30,800 Speaker 1: Matt Brooks, how do you get the Republicans like Senator 414 00:27:30,920 --> 00:27:34,280 Speaker 1: Kennedy to go on board with some of the moderates, 415 00:27:34,359 --> 00:27:39,240 Speaker 1: like like Congressman Tom Reid of New York. Look, I 416 00:27:39,240 --> 00:27:43,159 Speaker 1: think that's gonna happen organically. I think that that. I 417 00:27:43,200 --> 00:27:46,120 Speaker 1: think that what Senator Kennedy is saying is he makes 418 00:27:46,119 --> 00:27:48,320 Speaker 1: a lot of valet concerns and it's it's a it's 419 00:27:48,359 --> 00:27:51,760 Speaker 1: a you know, a vein that runs through a lot 420 00:27:51,800 --> 00:27:54,359 Speaker 1: of folks in the Republican Caucus, in the House and Senate. 421 00:27:54,359 --> 00:27:58,439 Speaker 1: But ultimately, going to Joel's point, Uh, this is about 422 00:27:58,440 --> 00:28:02,159 Speaker 1: helping people. And I think the real politique of an 423 00:28:02,160 --> 00:28:06,720 Speaker 1: impending election in forty seven days, uh, and people really 424 00:28:06,800 --> 00:28:08,639 Speaker 1: hurting and none of these guys wanting to have to 425 00:28:08,680 --> 00:28:12,120 Speaker 1: go back to their states of their districts without some 426 00:28:12,240 --> 00:28:15,919 Speaker 1: sort of bill to to help them. I think it's 427 00:28:16,000 --> 00:28:18,480 Speaker 1: what's ultimately going to drive this to the finish line, 428 00:28:18,640 --> 00:28:21,160 Speaker 1: you know what. I like? But I think is interesting 429 00:28:21,200 --> 00:28:23,119 Speaker 1: and I actually think it could be in the final 430 00:28:23,200 --> 00:28:25,480 Speaker 1: bill based upon the conversations that I have. But what 431 00:28:25,520 --> 00:28:28,720 Speaker 1: do I know. It's what the Problem Solvers Caucus UH 432 00:28:28,840 --> 00:28:31,399 Speaker 1: put out yesterday I'm gonna call it the Fiddler on 433 00:28:31,440 --> 00:28:34,919 Speaker 1: the Roof clause. It's both a sunrise at a sunset 434 00:28:34,960 --> 00:28:39,320 Speaker 1: clause in March. Stay with me. Stay with me, you know, 435 00:28:39,520 --> 00:28:43,480 Speaker 1: because if if come March the science says, hey, the 436 00:28:43,800 --> 00:28:47,440 Speaker 1: virus is receding, then they take away some of the 437 00:28:47,720 --> 00:28:50,400 Speaker 1: fiscal stimulus that kicks in. They they they they sun 438 00:28:50,520 --> 00:28:52,720 Speaker 1: set it. But if the virus isn't going in the 439 00:28:52,760 --> 00:28:56,360 Speaker 1: direction that we hope, then they then it automatically increases 440 00:28:56,400 --> 00:29:01,080 Speaker 1: to avoid another drama, you know, for politics theater. Look 441 00:29:01,080 --> 00:29:04,640 Speaker 1: at my punts today team, my political theater coming from 442 00:29:04,680 --> 00:29:08,960 Speaker 1: from Capitol Hill. So that sunrise sunset clause could happen, uh, 443 00:29:09,400 --> 00:29:13,240 Speaker 1: in the in the final talks, I'm Kevin CEREALI chief 444 00:29:13,280 --> 00:29:16,680 Speaker 1: Washington correspondent for Fiddler on the Roof, just ketting, uh, 445 00:29:16,760 --> 00:29:20,360 Speaker 1: for Bloomberg Television of Bloomberg Radio. And you're listening to 446 00:29:20,400 --> 00:29:32,720 Speaker 1: Bloomberg ninety one. This is Bloomberg Sound On with Kevin 447 00:29:32,800 --> 00:29:37,000 Speaker 1: Surreley on Bloomberg and one oh five point seven f 448 00:29:37,120 --> 00:29:39,680 Speaker 1: m HD two. My name is Kevin curreally on, the 449 00:29:39,720 --> 00:29:43,920 Speaker 1: chief Washington correspondent for Bloomberg Television and for Bloomberg of Radio. 450 00:29:44,000 --> 00:29:49,240 Speaker 1: We've got to geopolitical experts for the panel. Uh. And 451 00:29:49,280 --> 00:29:54,000 Speaker 1: we're gonna finish that conversation on fiscal stimulus with Congressman 452 00:29:54,520 --> 00:30:01,200 Speaker 1: uh with with Congressman Schweikert coming up, a Republican from Arizona. 453 00:30:01,280 --> 00:30:03,160 Speaker 1: But I do want to talk to you of politics 454 00:30:03,200 --> 00:30:04,800 Speaker 1: with our panel, because they're just so good at it. 455 00:30:04,840 --> 00:30:08,840 Speaker 1: Not Brooks, Republican strategist, executive director of the Republican Jewish Coalition, 456 00:30:08,880 --> 00:30:12,840 Speaker 1: And Joel Ruben, Democratic strategist and former Deputy Assistant Secretary 457 00:30:12,880 --> 00:30:19,800 Speaker 1: for Legislative Affairs at the State Department. All right, big week, 458 00:30:20,040 --> 00:30:23,280 Speaker 1: Big week for the Middle East, Joel. They got some 459 00:30:23,360 --> 00:30:28,360 Speaker 1: deals normalizing of the relations between the UAE Bahrain. You know, 460 00:30:28,480 --> 00:30:33,320 Speaker 1: word on the street is maybe Morocco, maybe Sudan. I 461 00:30:33,320 --> 00:30:37,520 Speaker 1: don't know, what do you think, Joe, Big week? Definitely 462 00:30:37,600 --> 00:30:40,720 Speaker 1: big week for Israel and in the Arab world. And 463 00:30:41,400 --> 00:30:45,040 Speaker 1: trudos to the Israelis and U A Bahrain for for 464 00:30:45,160 --> 00:30:49,280 Speaker 1: doing these deals and get the Trump administration for ussuring 465 00:30:49,320 --> 00:30:52,560 Speaker 1: them through. But I really think we need to be 466 00:30:52,680 --> 00:30:56,720 Speaker 1: careful about the dynamic that's underway to ensure that we 467 00:30:56,760 --> 00:31:01,720 Speaker 1: don't overstate this. These are important fields for normalizing Israel 468 00:31:01,800 --> 00:31:05,240 Speaker 1: in the Middle East. They helped move it forward, but 469 00:31:05,360 --> 00:31:08,680 Speaker 1: they are are lacking at the core hard issue in 470 00:31:08,680 --> 00:31:11,200 Speaker 1: the region, so which is the Palestinian issue. And even 471 00:31:11,240 --> 00:31:15,000 Speaker 1: the Bakraini and the m Rati foreign ministers when they 472 00:31:15,080 --> 00:31:17,760 Speaker 1: spoke at the White House, they spoke about the need 473 00:31:17,840 --> 00:31:20,880 Speaker 1: for peace on that issue as well. So I'm happy 474 00:31:20,920 --> 00:31:23,040 Speaker 1: about it. I think it's good for United States, it's 475 00:31:23,080 --> 00:31:25,840 Speaker 1: good for these countries. I'm worried about the F thirty 476 00:31:25,880 --> 00:31:27,920 Speaker 1: five sale. We could talk more about that. I think 477 00:31:27,960 --> 00:31:30,440 Speaker 1: it's gonna have a hard, hard road to hope with 478 00:31:30,480 --> 00:31:34,800 Speaker 1: our national security community, because there are worries about sending 479 00:31:34,960 --> 00:31:38,080 Speaker 1: this this text knowledgeely frankly to the U a E. 480 00:31:38,560 --> 00:31:42,000 Speaker 1: From a defense security perspective, and I also worry about 481 00:31:42,080 --> 00:31:45,240 Speaker 1: what we're willing to trade from the U. S national 482 00:31:45,560 --> 00:31:50,040 Speaker 1: perspective to get other countries to sign on supporting Israel. 483 00:31:50,360 --> 00:31:52,120 Speaker 1: There are lots of issues that we need to be 484 00:31:52,240 --> 00:31:56,520 Speaker 1: very cautious about and and and be be clearheaded. And 485 00:31:56,600 --> 00:32:00,200 Speaker 1: I really do hope the tr administration leans in on 486 00:32:00,440 --> 00:32:03,400 Speaker 1: the Palestine issue in ways that that that helped resolve 487 00:32:03,480 --> 00:32:07,120 Speaker 1: that conflicting in Israeli to close and say Israelies were 488 00:32:07,360 --> 00:32:10,200 Speaker 1: well pleased, certainly, but that's not what they're talking about 489 00:32:10,200 --> 00:32:11,960 Speaker 1: in the al right now, they're talking about how they're 490 00:32:12,000 --> 00:32:15,280 Speaker 1: going back into lockdown because time Mr Mettna, who led 491 00:32:15,360 --> 00:32:18,640 Speaker 1: israelis out the homes too quickly and now they've got 492 00:32:18,680 --> 00:32:22,720 Speaker 1: the worst cases at the rate of cases in the world. 493 00:32:22,920 --> 00:32:25,520 Speaker 1: So um, A lot a lot going on there, But 494 00:32:25,720 --> 00:32:30,120 Speaker 1: certainly I'm I'm definitely going to say positive things about 495 00:32:30,160 --> 00:32:32,600 Speaker 1: the idea that Israel and these two countries have established. 496 00:32:32,640 --> 00:32:36,160 Speaker 1: Good time, you know. I also a headline that jumped 497 00:32:36,160 --> 00:32:38,960 Speaker 1: out at me today was that the UAE has have 498 00:32:39,240 --> 00:32:41,560 Speaker 1: some they're having some synergy with China in terms of 499 00:32:41,640 --> 00:32:45,160 Speaker 1: vaccination distribution. You a becoming the first country really that 500 00:32:45,360 --> 00:32:50,080 Speaker 1: China has outsourced the vaccine to, which I thought was interesting. Brooks. 501 00:32:50,120 --> 00:32:52,760 Speaker 1: Let's talk about Palestine for a second, because when yesterday 502 00:32:52,840 --> 00:32:56,320 Speaker 1: when I interviewed the the U s Ambassador to Israel, 503 00:32:56,440 --> 00:32:58,760 Speaker 1: David Freedman, I asked him, you know, what is your 504 00:32:58,800 --> 00:33:01,680 Speaker 1: message for too to the Palestinians. He said, the trains 505 00:33:01,760 --> 00:33:05,800 Speaker 1: leaving the station. Yeah, I mean, I mean, there's no no, 506 00:33:06,120 --> 00:33:10,120 Speaker 1: no doubt. There were there were two places where uh 507 00:33:10,720 --> 00:33:14,360 Speaker 1: you know this this this peace treaty with the UA 508 00:33:14,600 --> 00:33:19,040 Speaker 1: and Bahrain in Israel UM was not celebrated. One was 509 00:33:19,160 --> 00:33:23,680 Speaker 1: in Grmala and one was in Tehran. And two regimes 510 00:33:23,680 --> 00:33:27,800 Speaker 1: are you know, finding themselves uh shunted more and more 511 00:33:27,960 --> 00:33:32,360 Speaker 1: on the international stage UH and and isolated more and more. 512 00:33:32,760 --> 00:33:37,360 Speaker 1: And I think the time of the Palestinians willfully trying 513 00:33:37,440 --> 00:33:39,920 Speaker 1: to sit on their hands and not take any meaningful 514 00:33:39,960 --> 00:33:44,720 Speaker 1: step for peace um, regardless of how many opportunities they 515 00:33:44,800 --> 00:33:48,280 Speaker 1: have had and they have they have passed on. I 516 00:33:48,400 --> 00:33:50,719 Speaker 1: think the time is they're getting the message loud included 517 00:33:50,760 --> 00:33:52,520 Speaker 1: that the time is now. It's either going to move 518 00:33:52,600 --> 00:33:55,440 Speaker 1: forward with you or without you. Uh. And it will 519 00:33:55,440 --> 00:33:57,280 Speaker 1: be very interesting to see what happens. There is no 520 00:33:57,440 --> 00:34:01,760 Speaker 1: doubt in my mind UH that if you're Mahmuda bas Um, 521 00:34:02,080 --> 00:34:05,320 Speaker 1: you have zero incentive to do anything uh in the 522 00:34:05,400 --> 00:34:07,280 Speaker 1: short term because they're gonna try and run out the 523 00:34:07,320 --> 00:34:10,120 Speaker 1: clock and hope that the President Trump loses and then 524 00:34:10,360 --> 00:34:12,440 Speaker 1: deal with Joe Biden they think will be much more 525 00:34:12,520 --> 00:34:15,600 Speaker 1: sympathetic to them. But the realities are gonna be wrong 526 00:34:15,680 --> 00:34:18,919 Speaker 1: again because President Trump is gonna win UH, and they're 527 00:34:18,960 --> 00:34:23,000 Speaker 1: going to continue to find themselves uh. Without a chair 528 00:34:23,120 --> 00:34:27,480 Speaker 1: once the music stops and and UH ultimately uh there 529 00:34:28,280 --> 00:34:32,359 Speaker 1: uh their ability to produce a meaningful deal for their 530 00:34:32,440 --> 00:34:34,920 Speaker 1: people and to bring the kind of economic prosperity and 531 00:34:35,000 --> 00:34:39,000 Speaker 1: the peace and security the Palestinians truly one UH is 532 00:34:39,040 --> 00:34:43,080 Speaker 1: going to have to be done by um overcoming the 533 00:34:43,160 --> 00:34:46,120 Speaker 1: failure of the Palestinian leadership. They're gonna have to step 534 00:34:46,239 --> 00:34:48,440 Speaker 1: up and do something either this. I don't know that 535 00:34:48,560 --> 00:34:51,400 Speaker 1: this generation can, but if the next generation of leaders 536 00:34:51,480 --> 00:34:53,520 Speaker 1: is gonna have to do it. Let me let me 537 00:34:53,520 --> 00:34:56,759 Speaker 1: ask you about the free five issue, because as part 538 00:34:56,840 --> 00:35:00,360 Speaker 1: of this deal with with the U A, the U 539 00:35:00,520 --> 00:35:02,480 Speaker 1: S has agreed to sell F thirty five to to 540 00:35:02,600 --> 00:35:06,360 Speaker 1: the U A, and some have raised concerns that that 541 00:35:06,520 --> 00:35:10,320 Speaker 1: might undercut Israel. Jeoel just alluded to it. Do you 542 00:35:10,440 --> 00:35:13,000 Speaker 1: have those concerns? How can the US make sure that 543 00:35:13,239 --> 00:35:19,439 Speaker 1: Israel's national security is protected even as we are making 544 00:35:19,520 --> 00:35:22,680 Speaker 1: good on our word to the U A. Look, I 545 00:35:22,760 --> 00:35:24,759 Speaker 1: think there is a real reason to be concerned, but 546 00:35:24,920 --> 00:35:26,920 Speaker 1: I think there is not a reason to be concerned 547 00:35:26,960 --> 00:35:30,120 Speaker 1: when it comes to President Trump. Everything he has said 548 00:35:30,160 --> 00:35:32,920 Speaker 1: and done, and even with regard to the F thirty 549 00:35:32,960 --> 00:35:37,200 Speaker 1: five deal, is that the United States will preserve Israel's 550 00:35:37,280 --> 00:35:40,239 Speaker 1: qualitative military advantage. So even though that the UA may 551 00:35:40,320 --> 00:35:43,000 Speaker 1: have state of the art technology, uh, the United States 552 00:35:43,080 --> 00:35:48,000 Speaker 1: will ensure that Israel's military capabilities are the most superior 553 00:35:48,120 --> 00:35:50,120 Speaker 1: in the region in order for them to defend themselves. 554 00:35:50,160 --> 00:35:53,239 Speaker 1: But also one thing to note about the F thirty five. 555 00:35:53,400 --> 00:35:56,840 Speaker 1: Not every F thirty five is created equal, and you 556 00:35:56,960 --> 00:35:59,879 Speaker 1: can sell F thirty five, but you can strip out 557 00:36:00,080 --> 00:36:03,920 Speaker 1: some of the critical avionics that Israel has or that 558 00:36:04,000 --> 00:36:07,600 Speaker 1: the US has, that we don't share with other countries. 559 00:36:07,719 --> 00:36:10,920 Speaker 1: So just because it has, you know, the label F 560 00:36:11,080 --> 00:36:13,719 Speaker 1: thirty five on it, there's different different types of F 561 00:36:13,840 --> 00:36:17,480 Speaker 1: thirty five, different capabilities, different avionics, And it doesn't mean 562 00:36:17,520 --> 00:36:20,360 Speaker 1: that we're you know, selling them the top of the line, 563 00:36:20,400 --> 00:36:22,880 Speaker 1: state of the art model. I think, uh, that's an 564 00:36:22,880 --> 00:36:26,880 Speaker 1: important consideration too. All right. I gotta buddy Ian Bremer 565 00:36:26,960 --> 00:36:30,000 Speaker 1: of the Eurasia Group really stepped in it today. He 566 00:36:30,200 --> 00:36:32,719 Speaker 1: was all over the social media feeds. Did you guys 567 00:36:32,760 --> 00:36:35,560 Speaker 1: see this? I gotta, I gotta, I gotta get shouldern right, 568 00:36:35,680 --> 00:36:38,000 Speaker 1: He's absolutely right, by the way. Okay, let me play 569 00:36:38,040 --> 00:36:39,799 Speaker 1: the clip, Let me play the clip, Let me play 570 00:36:39,800 --> 00:36:43,279 Speaker 1: the clips. Don't give it away. Don't give it away? Right, 571 00:36:43,320 --> 00:36:48,799 Speaker 1: here's them Bremer playm Bremer. Here we go, surprised me murder? 572 00:36:48,960 --> 00:36:53,120 Speaker 1: Can we play you? Am Bremer? You know what we're 573 00:36:53,120 --> 00:36:57,239 Speaker 1: gonna hold on deserves one more than Obama did. At 574 00:36:57,280 --> 00:36:59,640 Speaker 1: the time that Obama received it. Of course, that was 575 00:36:59,680 --> 00:37:03,520 Speaker 1: a bollock uh prize at that point. It was a 576 00:37:03,600 --> 00:37:08,120 Speaker 1: hopeful prize, It was aspirational, and it was overtly political. Alright. 577 00:37:08,200 --> 00:37:10,040 Speaker 1: So so there he was coming up. That was that 578 00:37:10,120 --> 00:37:14,839 Speaker 1: was im Bremer talking about the Nobel Peace Prize for uh, 579 00:37:15,120 --> 00:37:17,720 Speaker 1: Donald Trump and Barack Obama. I'm gonna get the panel 580 00:37:17,800 --> 00:37:19,680 Speaker 1: to think about that. There they already want to talk 581 00:37:19,719 --> 00:37:22,160 Speaker 1: about it. More coming up next. I'm Kevin Seili. You're 582 00:37:22,160 --> 00:37:31,240 Speaker 1: listening to Bloomberg Une and I want this is Bloomberg's 583 00:37:31,320 --> 00:37:35,920 Speaker 1: sound on with Kevin Surreley on Bloomberg and one or 584 00:37:36,040 --> 00:37:39,560 Speaker 1: five point seven f M h D two. I'm Kevin Sireli, 585 00:37:39,640 --> 00:37:43,640 Speaker 1: chief Washington correspondent for Bloomberg Television and from Bloomberg Radio. 586 00:37:43,719 --> 00:37:45,560 Speaker 1: You know something that I didn't get hit earlier that 587 00:37:45,600 --> 00:37:50,120 Speaker 1: I wanted to mention off of the the f O 588 00:37:50,280 --> 00:37:52,719 Speaker 1: m C meeting and the Central Bank, And what they 589 00:37:52,760 --> 00:37:55,920 Speaker 1: have to say now is that they're now expecting gross 590 00:37:56,000 --> 00:38:00,399 Speaker 1: domestic product GDP to fall three point seven per cent 591 00:38:01,000 --> 00:38:04,360 Speaker 1: this year. Back in June, they forecast that it was 592 00:38:04,440 --> 00:38:07,879 Speaker 1: going to fall six point five percent in this year. 593 00:38:08,520 --> 00:38:11,560 Speaker 1: So they shaved off nearly three percentage points of the drop. 594 00:38:11,880 --> 00:38:16,440 Speaker 1: So the so the GDP contraction for this year UM 595 00:38:17,480 --> 00:38:21,479 Speaker 1: is is not as severe as as what the FED 596 00:38:21,680 --> 00:38:25,320 Speaker 1: had been calling for back in in the summer. So 597 00:38:25,480 --> 00:38:27,600 Speaker 1: I I say that because I want to set it 598 00:38:27,680 --> 00:38:30,600 Speaker 1: up for our next guest, Congressman David Schweikert, who was 599 00:38:31,040 --> 00:38:35,160 Speaker 1: a congressman for Arizona's sixth congressional district. He's a Republican 600 00:38:35,239 --> 00:38:39,600 Speaker 1: and the district includes Phoenix suburbs including Scottsdale, as well 601 00:38:39,640 --> 00:38:42,840 Speaker 1: as sections America County. And Congressman, you know, one of 602 00:38:42,920 --> 00:38:47,080 Speaker 1: the things that I hear from the business community and 603 00:38:47,280 --> 00:38:49,879 Speaker 1: and reading the FED reports and the guidance from FED 604 00:38:49,960 --> 00:38:54,200 Speaker 1: Chair J Powell, is they really want some more fiscal stimulus. 605 00:38:54,239 --> 00:38:57,200 Speaker 1: They're saying it's crucial to continue to have this this 606 00:38:57,360 --> 00:38:59,600 Speaker 1: recovery occur. Do you think we're gonna get it before 607 00:38:59,640 --> 00:39:04,480 Speaker 1: November third? Um? I hope. So, But what we're looking at, 608 00:39:04,640 --> 00:39:07,080 Speaker 1: and I'm blessed to be one of the senior well 609 00:39:07,239 --> 00:39:09,920 Speaker 1: the senior Republican from the House on on something called 610 00:39:09,920 --> 00:39:12,879 Speaker 1: the Joint Economic Committee. I'm also on ways and means, 611 00:39:12,960 --> 00:39:16,680 Speaker 1: So um, we geek out a lot on this and 612 00:39:17,480 --> 00:39:23,120 Speaker 1: in Yeah, but some of the math is fascinating because 613 00:39:23,120 --> 00:39:27,080 Speaker 1: we're dealing with scenarios that we've never found in a textbook, 614 00:39:27,800 --> 00:39:31,279 Speaker 1: and that is, do you want a general stimulus or 615 00:39:31,360 --> 00:39:36,040 Speaker 1: do you also need to hit certain targeted industries hospitality, leisure, 616 00:39:36,160 --> 00:39:40,840 Speaker 1: airlines that, um, the recovery is just organically going to 617 00:39:40,920 --> 00:39:43,880 Speaker 1: be much slower as it comes to the cycle. And 618 00:39:43,960 --> 00:39:48,799 Speaker 1: then there's other industries um that have actually, if not benefited, 619 00:39:49,040 --> 00:39:53,200 Speaker 1: have stabilized much faster than we originally modeled. So I'm 620 00:39:53,280 --> 00:39:57,279 Speaker 1: hoping there's um some opportunity to do some stimulus out 621 00:39:57,320 --> 00:40:01,080 Speaker 1: there for unemployment for maybe the general population, but really 622 00:40:01,160 --> 00:40:05,839 Speaker 1: also focus on where the long term damages because as 623 00:40:05,920 --> 00:40:09,000 Speaker 1: we deal with the math, um, there's an intense concern 624 00:40:09,520 --> 00:40:13,400 Speaker 1: what job loss is permanent and is their policy we 625 00:40:13,480 --> 00:40:16,719 Speaker 1: can engage in to keep it from becoming permanent. And 626 00:40:16,880 --> 00:40:20,080 Speaker 1: so when you talk to Republicans and you talk to 627 00:40:20,160 --> 00:40:23,120 Speaker 1: your Democratic colleagues. Are they bullish? I mean when because 628 00:40:23,440 --> 00:40:26,040 Speaker 1: we heard from Speaker Pelosi earlier in the hour and 629 00:40:26,120 --> 00:40:29,000 Speaker 1: she said that she's going to keep everybody there until 630 00:40:29,080 --> 00:40:31,879 Speaker 1: you all get a deal on fiscal stimulus. Obviously you're 631 00:40:31,920 --> 00:40:34,160 Speaker 1: up against the keep the government open, but I mean, 632 00:40:34,800 --> 00:40:38,640 Speaker 1: are you bullish that this happens before November three? Well, 633 00:40:38,719 --> 00:40:42,320 Speaker 1: I want to back up first her hearing the Speaker's 634 00:40:42,520 --> 00:40:45,600 Speaker 1: first quote about that, I think she was being rhetorical 635 00:40:46,160 --> 00:40:50,560 Speaker 1: because they threw the gabble and Congress the houses left town. 636 00:40:51,280 --> 00:40:53,600 Speaker 1: The only one that can truly make this deal come 637 00:40:53,680 --> 00:40:57,120 Speaker 1: together is Speaker Pelosi marching over to the Senate and 638 00:40:57,160 --> 00:40:59,560 Speaker 1: on marching over to the White House. You need that 639 00:40:59,760 --> 00:41:02,200 Speaker 1: lead your ship to do it. And the rhetoric that 640 00:41:02,239 --> 00:41:05,880 Speaker 1: we're going to keep Congress open is great politically, but 641 00:41:06,000 --> 00:41:09,120 Speaker 1: that's just not how it's functioning right now. Um. I 642 00:41:09,239 --> 00:41:14,120 Speaker 1: think something will happen. My fear, though, is the bill 643 00:41:14,239 --> 00:41:17,120 Speaker 1: from a couple of months ago that had so many 644 00:41:17,239 --> 00:41:22,719 Speaker 1: constituencies that are political allies of the left and you know, 645 00:41:23,160 --> 00:41:26,719 Speaker 1: getting benefits. Will everyone sort of step up and say 646 00:41:27,480 --> 00:41:32,360 Speaker 1: this isn't about the election year, even though that seems pervasive. 647 00:41:32,760 --> 00:41:36,080 Speaker 1: We need the resources to go with what shores up 648 00:41:36,120 --> 00:41:40,600 Speaker 1: the economy so we can close this economic growth gap. 649 00:41:41,960 --> 00:41:44,120 Speaker 1: So do you think, I guess yes or no? Do 650 00:41:44,160 --> 00:41:46,239 Speaker 1: you think we're going to get a physical stimulus before 651 00:41:46,280 --> 00:41:50,680 Speaker 1: the election? Or I said, I believe something will happen, 652 00:41:50,719 --> 00:41:53,160 Speaker 1: but be a little careful. I'm fifty eight years old 653 00:41:53,200 --> 00:41:57,759 Speaker 1: with a five year old, so I'm pathologically optimistic. All right, Well, 654 00:41:57,840 --> 00:42:00,480 Speaker 1: that's a that's a very very interesting I want to 655 00:42:00,520 --> 00:42:05,440 Speaker 1: ask you about, uh the I find that funny. No, 656 00:42:05,600 --> 00:42:06,840 Speaker 1: I mean, you know, where do you go with that? 657 00:42:06,960 --> 00:42:09,759 Speaker 1: You know, I'm speechless. I'm the radio show said, I'm speechless. 658 00:42:10,040 --> 00:42:13,520 Speaker 1: Congressmen Strikers on the line. He's a Republican from Arizona. 659 00:42:14,040 --> 00:42:16,600 Speaker 1: I got to ask you about the fires in Arizona, uh, 660 00:42:16,680 --> 00:42:18,799 Speaker 1: and what's happening out there. Obviously you know a thing 661 00:42:18,920 --> 00:42:21,480 Speaker 1: or two about about these horrific fires that have been 662 00:42:21,560 --> 00:42:24,719 Speaker 1: ravaging parts of the country, and not just this year, 663 00:42:24,760 --> 00:42:27,160 Speaker 1: but in years past. You know, the way that the 664 00:42:27,239 --> 00:42:30,239 Speaker 1: debate often gets framed by the left is is it's 665 00:42:30,600 --> 00:42:33,760 Speaker 1: it's a matter of global warming and climate change versus 666 00:42:34,000 --> 00:42:37,320 Speaker 1: uh everything else where. Do you, as a Republican in Arizona, 667 00:42:37,760 --> 00:42:39,440 Speaker 1: you know how do you view this, how do how 668 00:42:39,480 --> 00:42:41,560 Speaker 1: do your how do Republicans in your state view this? 669 00:42:41,640 --> 00:42:47,439 Speaker 1: Because it's been been really a topic of national discourse. Yeah, 670 00:42:47,520 --> 00:42:50,560 Speaker 1: and I may be the odd ball here. Remember I 671 00:42:50,640 --> 00:42:54,839 Speaker 1: do taxes, trade, medicare, finance for my specialty. But nine 672 00:42:54,960 --> 00:42:59,320 Speaker 1: years ago we lost nineteen firefighters and in a horrible 673 00:42:59,360 --> 00:43:02,840 Speaker 1: fire in Area Zona, and so I took up an 674 00:43:02,880 --> 00:43:07,400 Speaker 1: interest in what makes our forest blow up? And it 675 00:43:07,480 --> 00:43:11,400 Speaker 1: turns out it's complicated, and and if you're not willing 676 00:43:11,440 --> 00:43:14,200 Speaker 1: to understand that, if you have someone that runs up 677 00:43:14,239 --> 00:43:15,960 Speaker 1: and say it's global warming, or if you have someone 678 00:43:16,000 --> 00:43:19,400 Speaker 1: that says it's only this, or that they're not understanding 679 00:43:19,560 --> 00:43:23,200 Speaker 1: the scale. Um. Some of the reviews of the huge 680 00:43:23,239 --> 00:43:26,719 Speaker 1: fires we had in Arizona years ago said it was 681 00:43:27,200 --> 00:43:30,160 Speaker 1: our failure to do thinging, our failure of almost a 682 00:43:30,280 --> 00:43:34,960 Speaker 1: hundred years of forest management, non native species like grasses 683 00:43:35,040 --> 00:43:37,120 Speaker 1: and things that we had never had to deal with 684 00:43:38,080 --> 00:43:41,880 Speaker 1: that are now throughout the Southwest. Member people forget, Arizona 685 00:43:41,920 --> 00:43:44,759 Speaker 1: has the largest Ponderosa pine forest in the country, and 686 00:43:44,880 --> 00:43:47,839 Speaker 1: parts of that just blew up because there had been 687 00:43:47,880 --> 00:43:51,160 Speaker 1: decades and decades and decades fireload. But you have other 688 00:43:51,280 --> 00:43:54,600 Speaker 1: issues around the world and the Amazon, it's you know, 689 00:43:55,000 --> 00:44:01,040 Speaker 1: um folks burning for cattle ranching and farming. In Um Siberia, 690 00:44:01,400 --> 00:44:04,680 Speaker 1: we have a real issue with fires there that could 691 00:44:04,760 --> 00:44:08,400 Speaker 1: be from warming and part of the box um burning. 692 00:44:08,960 --> 00:44:11,400 Speaker 1: And I wish actually those who want to talk about 693 00:44:11,440 --> 00:44:15,040 Speaker 1: forest fires that we just talked to those folks who 694 00:44:15,160 --> 00:44:19,560 Speaker 1: actually specialize in the subject due forest management, and we 695 00:44:19,680 --> 00:44:22,359 Speaker 1: as a nation step up and understand those who say 696 00:44:22,400 --> 00:44:24,919 Speaker 1: you can't cut down a tree, you're the ones killing 697 00:44:24,920 --> 00:44:30,000 Speaker 1: our forests, and let's step up, come up with rational plans, 698 00:44:30,680 --> 00:44:33,200 Speaker 1: and that's how you preserve nature. You said something there 699 00:44:33,239 --> 00:44:35,320 Speaker 1: that I want to follow up on. You said, so 700 00:44:35,760 --> 00:44:38,920 Speaker 1: you're saying that it's important at some at certain times 701 00:44:39,520 --> 00:44:44,080 Speaker 1: for forest management, that's certain trees be taken down because 702 00:44:44,920 --> 00:44:46,520 Speaker 1: so that so that they don't try out and so 703 00:44:46,640 --> 00:44:49,960 Speaker 1: that they don't start to have Can you just explain that, 704 00:44:49,960 --> 00:44:52,800 Speaker 1: because I don't think most of you where it's listening. 705 00:44:53,719 --> 00:44:56,600 Speaker 1: Have you ever heard of a place called Flagstaff, Arizona. Yes, 706 00:44:56,640 --> 00:45:00,520 Speaker 1: it's beautiful. It's a great town. It's seven thousands some 707 00:45:00,640 --> 00:45:02,680 Speaker 1: feet up in the mountains. And I have a book 708 00:45:02,719 --> 00:45:05,960 Speaker 1: in my office that has a picture of this meadow 709 00:45:06,000 --> 00:45:07,920 Speaker 1: from a hundred years ago, and the picture of that 710 00:45:08,040 --> 00:45:10,480 Speaker 1: meadow today and on the side of the meadow you 711 00:45:10,640 --> 00:45:14,239 Speaker 1: see these pine trees. A hundred years ago you could 712 00:45:14,360 --> 00:45:19,320 Speaker 1: drive a wagon between the trees. Today you couldn't. You 713 00:45:19,600 --> 00:45:22,319 Speaker 1: can barely take an a TV through them. It's so thick. 714 00:45:22,840 --> 00:45:27,399 Speaker 1: Today the trees look sickly and unhealthy. Hundred years ago 715 00:45:27,520 --> 00:45:30,799 Speaker 1: they looked very healthy. What you're looking at is we've 716 00:45:30,840 --> 00:45:36,040 Speaker 1: allowed overgrowth in that force. There's been no thinning, no cleaning, 717 00:45:36,360 --> 00:45:39,800 Speaker 1: um large fireload, and now the trees are dying and 718 00:45:39,800 --> 00:45:42,040 Speaker 1: struggling because they can't get enough sunlight, they can't get 719 00:45:42,120 --> 00:45:46,760 Speaker 1: enough water. In many ways we have loved are forced 720 00:45:47,160 --> 00:45:51,719 Speaker 1: to death. And one of the intense ironies from a 721 00:45:51,800 --> 00:45:54,560 Speaker 1: decade ago when we when we had that huge fire 722 00:45:54,600 --> 00:45:58,520 Speaker 1: and lost the firefighters, there was a national attempt and 723 00:45:58,600 --> 00:46:01,120 Speaker 1: a local attempt to go win and do some thinning. 724 00:46:02,239 --> 00:46:06,399 Speaker 1: We were being sued, were the state and the forced 725 00:46:06,400 --> 00:46:09,120 Speaker 1: service were being sued to stop it. Now that force 726 00:46:09,239 --> 00:46:15,840 Speaker 1: has gone wow um and so yeah, it's you almost 727 00:46:15,880 --> 00:46:18,360 Speaker 1: wish you had the professionals and the adults in charge, 728 00:46:18,840 --> 00:46:20,440 Speaker 1: and those of those who are more in the political 729 00:46:20,520 --> 00:46:23,440 Speaker 1: class asked us to shut up, and those who in 730 00:46:23,480 --> 00:46:26,120 Speaker 1: the environmental community that don't want to cut down the tree, 731 00:46:26,160 --> 00:46:28,520 Speaker 1: ask them also to do the same. And let's let 732 00:46:28,600 --> 00:46:31,839 Speaker 1: the people that actually are the experts on forced health 733 00:46:32,400 --> 00:46:34,400 Speaker 1: be the ones that we like that quote. I like 734 00:46:34,560 --> 00:46:36,640 Speaker 1: that quote. I wanted for the intro borado. We gotta 735 00:46:36,680 --> 00:46:40,040 Speaker 1: cut that quote. US politicians should shut up. I like that. 736 00:46:40,280 --> 00:46:42,160 Speaker 1: I like that. You know why I seem to annoy 737 00:46:42,320 --> 00:46:48,360 Speaker 1: every Congressman David Schweiker public and from Arizona six Congressional District. 738 00:46:48,400 --> 00:46:51,239 Speaker 1: Good luck with the distance, learning with the five year old. 739 00:46:51,560 --> 00:46:55,239 Speaker 1: I hope everything is it. You're very kind, thank you, 740 00:46:55,400 --> 00:46:58,160 Speaker 1: But all right, I'll talk to you that Congressman David Schwiker. 741 00:46:58,239 --> 00:47:01,560 Speaker 1: He is a representative from a done As six Congressional District, 742 00:47:01,760 --> 00:47:06,680 Speaker 1: Republican district that includes Phoenix suburbs, Scottsdale, and sections of 743 00:47:06,760 --> 00:47:10,000 Speaker 1: Mayor Coopa County. Uh, coming up next, what's on the 744 00:47:10,040 --> 00:47:12,800 Speaker 1: panel's radar? And Uh, we're gonna talk about that Ian Bremer, 745 00:47:13,320 --> 00:47:15,960 Speaker 1: that Ian Bremer viral moment from our friend at the 746 00:47:15,960 --> 00:47:19,000 Speaker 1: Eurasia Group and the Nobel Peace Prize of Kevin's Really 747 00:47:19,280 --> 00:47:32,480 Speaker 1: you're listening to Bloomberg nine nine one you're listening to 748 00:47:32,640 --> 00:47:37,239 Speaker 1: Bloomberg Sound On with Kevin Surreley on Bloomberg and one 749 00:47:37,280 --> 00:47:40,279 Speaker 1: Old five point seven f m h D two. My 750 00:47:40,400 --> 00:47:42,640 Speaker 1: name is Kevin Curley. I'm the chief Washington correspondent for 751 00:47:42,640 --> 00:47:45,959 Speaker 1: Bloomberg Television and for Bloomberg Radio. I can't stop reading 752 00:47:45,960 --> 00:47:48,960 Speaker 1: about these wildfires. I mean, it is just really really 753 00:47:49,560 --> 00:47:52,520 Speaker 1: remarkable to see what's going on out there, and then 754 00:47:52,600 --> 00:47:54,560 Speaker 1: you know, you factor in again. I go back to 755 00:47:54,640 --> 00:47:57,239 Speaker 1: the issue of public land versus private land. I mean, 756 00:47:57,280 --> 00:47:59,600 Speaker 1: how do you manage all of the lumber, all of 757 00:47:59,640 --> 00:48:01,759 Speaker 1: the tree us in all of these parts of the 758 00:48:01,840 --> 00:48:04,640 Speaker 1: country when some of the land's own publicly some of 759 00:48:04,719 --> 00:48:07,640 Speaker 1: its own private. I mean, that's that's a whole legal quagmire. 760 00:48:08,120 --> 00:48:11,719 Speaker 1: It's a puzzle. It's a puzzle, but you know it's 761 00:48:11,880 --> 00:48:17,000 Speaker 1: it's it's a really really intense, intensely complicated, complicated issue. 762 00:48:17,000 --> 00:48:19,880 Speaker 1: Matt Brooks is with US Republican Strategists, Executive director of 763 00:48:19,880 --> 00:48:23,680 Speaker 1: the Republican Jewish Coalition. Joel Reuben, Democratic strategist, former Deputy 764 00:48:23,719 --> 00:48:27,000 Speaker 1: Assistant Secretary for Legislative Affairs at the State's Department, who 765 00:48:27,080 --> 00:48:30,000 Speaker 1: has me on speaker, Turn me off, speaker, please, and Joel. 766 00:48:30,080 --> 00:48:32,600 Speaker 1: Who do you think is gonna be Secretary of State 767 00:48:32,680 --> 00:48:37,240 Speaker 1: in a Biden administration? Who's on the shortlist? Oh goodness, 768 00:48:37,320 --> 00:48:41,600 Speaker 1: I was still ready for other questions. No, Um, well, 769 00:48:42,000 --> 00:48:43,759 Speaker 1: you know, I think I think there are several names 770 00:48:43,800 --> 00:48:46,760 Speaker 1: that are out there. Susan right clearly is one. Center. 771 00:48:46,880 --> 00:48:50,880 Speaker 1: Chris Coons is another. I think long shot center Chris Murphy. 772 00:48:51,360 --> 00:48:54,400 Speaker 1: Um is the name that is is a real popular 773 00:48:54,480 --> 00:48:57,359 Speaker 1: one in the party. Um. And then of course there's 774 00:48:57,400 --> 00:49:00,160 Speaker 1: the excellent people have been around the Vice president like 775 00:49:00,239 --> 00:49:04,920 Speaker 1: Tony Blanken and Senator has been around. It has been 776 00:49:04,920 --> 00:49:12,200 Speaker 1: around to senators has been around for Biden for a while. Dellware, 777 00:49:12,440 --> 00:49:21,440 Speaker 1: you got Tellaware Delaware a real, real leader on a 778 00:49:21,520 --> 00:49:23,920 Speaker 1: lot of a lot of the important national security issues 779 00:49:24,000 --> 00:49:26,680 Speaker 1: across the board. He he knows how to work it 780 00:49:26,760 --> 00:49:29,560 Speaker 1: on a bipartisan level. He's got strong views as a 781 00:49:29,640 --> 00:49:33,720 Speaker 1: strong Democrat and uh a real leader on on Africa 782 00:49:33,840 --> 00:49:38,719 Speaker 1: issues and issues that that oftentimes aren't focused on publicly, 783 00:49:38,840 --> 00:49:41,280 Speaker 1: but it really do matter for America's laun term position. 784 00:49:41,440 --> 00:49:43,560 Speaker 1: All Right, So here's what's on my radar. And by 785 00:49:43,600 --> 00:49:45,920 Speaker 1: the way, Senator is going to be on my show tomorrow, 786 00:49:46,080 --> 00:49:48,120 Speaker 1: So tuned in because we're gonna ask him about all that, 787 00:49:48,400 --> 00:49:51,359 Speaker 1: and of course Biden's town hall tonight, we'll ask him 788 00:49:51,360 --> 00:49:54,399 Speaker 1: about the economic rollout. That's tomorrow, Senator Christkins. Here's it's 789 00:49:54,400 --> 00:49:57,720 Speaker 1: all my radar, Tom Keene, my good friend, my mentor 790 00:49:58,520 --> 00:50:04,160 Speaker 1: Tom Keene. Bloomberg Surveillance HADIANM. Bremer on and from the 791 00:50:04,239 --> 00:50:06,800 Speaker 1: Eurasia Group replayed it earlier, but he asked him about 792 00:50:07,200 --> 00:50:11,920 Speaker 1: whether or not President Trump should get a Nobel Peace Prize. 793 00:50:12,000 --> 00:50:15,239 Speaker 1: Take a listen to what Ian Bremer told my friend 794 00:50:15,320 --> 00:50:18,680 Speaker 1: Tom King. I can say he deserves one more than 795 00:50:18,920 --> 00:50:22,719 Speaker 1: Obama did at the time that Obama received it. Of course, 796 00:50:22,760 --> 00:50:26,600 Speaker 1: that was a symbolic UH prize at that point. It 797 00:50:26,719 --> 00:50:29,120 Speaker 1: was a hopeful prize. It was aspirational, and it was 798 00:50:29,200 --> 00:50:34,000 Speaker 1: overtly political. Ian Bremer, who was one of the smartest 799 00:50:34,080 --> 00:50:38,239 Speaker 1: geo political minds, really going viral with leave at the 800 00:50:38,320 --> 00:50:40,759 Speaker 1: top game. All right, So I want I want to 801 00:50:40,800 --> 00:50:44,400 Speaker 1: get the panel's reaction. Joel, here's the question to you, 802 00:50:44,480 --> 00:50:46,680 Speaker 1: and then Matt when he's finished, go jump in. Was 803 00:50:46,840 --> 00:50:51,880 Speaker 1: Ian Bremer right, the legendary em Bremer. Ian Bremer was 804 00:50:52,000 --> 00:50:59,879 Speaker 1: confused and completely awesome balance and it's it's it's it's 805 00:51:00,080 --> 00:51:05,760 Speaker 1: founding that he would advocate for for President Trump, who 806 00:51:05,880 --> 00:51:08,800 Speaker 1: has been lying to Americans about the severity of COVID. 807 00:51:09,200 --> 00:51:12,000 Speaker 1: We've got a couple hundred thousand people dead now Americans 808 00:51:12,080 --> 00:51:14,840 Speaker 1: on his watch for a Nobel Prize. I I just 809 00:51:14,960 --> 00:51:17,799 Speaker 1: don't get it. And and there's this sort of uh, 810 00:51:18,800 --> 00:51:21,640 Speaker 1: revisionist history going on to some hip Barack Obama, who 811 00:51:21,680 --> 00:51:25,840 Speaker 1: actually did build international agreements to reduce the threat as 812 00:51:25,960 --> 00:51:29,680 Speaker 1: nuclear weapons, somehow wasn't deserving of a Nobel Prize. I 813 00:51:29,800 --> 00:51:32,600 Speaker 1: just find it astounding that he stepped right into it. Uh. 814 00:51:32,680 --> 00:51:37,400 Speaker 1: And clearly a very confused analyst right there, Matthew. I 815 00:51:37,520 --> 00:51:41,320 Speaker 1: think he was absolutely wanted to pot on and I 816 00:51:41,360 --> 00:51:44,239 Speaker 1: would reply to Joel. I would remind Joel, we're talking 817 00:51:44,239 --> 00:51:47,040 Speaker 1: about the Nobel Peace Prize, not the Nobel Prize for 818 00:51:47,160 --> 00:51:51,359 Speaker 1: medicine or science. Uh. This is about creating and having 819 00:51:51,400 --> 00:51:55,480 Speaker 1: a vision that brings a paradigm shift to one of 820 00:51:55,520 --> 00:51:57,960 Speaker 1: the most volatile regions in the country. It changes the 821 00:51:58,200 --> 00:52:01,080 Speaker 1: landscape of the Middle East. Uh. If this is not 822 00:52:01,239 --> 00:52:04,640 Speaker 1: deserving of the Nobel Peace Prize, I don't know what is. UH. 823 00:52:04,840 --> 00:52:07,520 Speaker 1: Certainly the one speech that Barack Obama gave that got 824 00:52:07,640 --> 00:52:10,839 Speaker 1: him a Nobel prize. Uh. This far sapas because it's 825 00:52:10,840 --> 00:52:14,719 Speaker 1: actually something tangible and real. Having said that, by the way, 826 00:52:14,719 --> 00:52:17,800 Speaker 1: I believe the Nobel Committee there's about zero chance that 827 00:52:17,880 --> 00:52:21,040 Speaker 1: they're gonna give Donald Trump. Uh. They would rather commit 828 00:52:21,120 --> 00:52:25,520 Speaker 1: Harry carry uh than give Donald Trump the Nobel Peace Prize. 829 00:52:25,640 --> 00:52:31,040 Speaker 1: So uh, you know what, stranger things have happened. We 830 00:52:31,120 --> 00:52:33,759 Speaker 1: all thought the Eagles were gonna beat the Washington football team. 831 00:52:37,320 --> 00:52:42,440 Speaker 1: I know, I couldn't. I couldn't. We literally lost to 832 00:52:42,560 --> 00:52:44,520 Speaker 1: a team. We lost to a team with no name, 833 00:52:45,080 --> 00:52:47,840 Speaker 1: you know. And hey, it's a great metaphor. I gotta 834 00:52:48,000 --> 00:52:49,799 Speaker 1: I see. I know, Barad is like, come on, Kevin, 835 00:52:49,880 --> 00:52:51,640 Speaker 1: rain it back and you were so focused, You've been 836 00:52:51,719 --> 00:52:54,520 Speaker 1: so focused these past few episodes. But I just gotta say, 837 00:52:54,800 --> 00:52:57,399 Speaker 1: if you need hold on, hold on, I have if 838 00:52:57,480 --> 00:53:02,040 Speaker 1: you need a metaphor for a first quarter. And then bam, 839 00:53:02,400 --> 00:53:07,680 Speaker 1: just all from the Great First Calf gatl Yeah. Well 840 00:53:08,080 --> 00:53:11,279 Speaker 1: all right, what's on your radar, Brooks? Well, first of all, 841 00:53:12,000 --> 00:53:16,279 Speaker 1: on my radar this weekend is the high Holy Days 842 00:53:16,400 --> 00:53:18,960 Speaker 1: for the for the Jewish faith. It's Russia. Shawn's part 843 00:53:19,000 --> 00:53:20,760 Speaker 1: of our New year. So I want to whip my friend, 844 00:53:20,920 --> 00:53:24,359 Speaker 1: uh doll Reuben very happy and a healthy new year 845 00:53:24,400 --> 00:53:29,160 Speaker 1: and uh Jewish Jewish listeners out there happy in the 846 00:53:29,239 --> 00:53:31,680 Speaker 1: healthy new year. Um. The thing that's on the on 847 00:53:31,800 --> 00:53:35,240 Speaker 1: my radar screen keV is is and it's it's talked 848 00:53:35,239 --> 00:53:38,880 Speaker 1: about a lot, but it's the practicality of the challenges 849 00:53:38,920 --> 00:53:40,560 Speaker 1: are starting to hit home now, which is the whole 850 00:53:41,120 --> 00:53:43,480 Speaker 1: vote by mail issue in terms of what we're doing. 851 00:53:43,600 --> 00:53:47,799 Speaker 1: For instance, we had an entire schedule of direct mail 852 00:53:47,920 --> 00:53:52,759 Speaker 1: designed to hit voters from the windows when you could 853 00:53:52,880 --> 00:53:55,080 Speaker 1: request an absentee ballot, so when they were due and 854 00:53:55,120 --> 00:53:58,920 Speaker 1: when they were gonna be um turned in Pennsylvania just 855 00:53:59,040 --> 00:54:01,919 Speaker 1: today has kept moving the date back of the vote 856 00:54:01,920 --> 00:54:05,239 Speaker 1: by mail because they're not equipped to handle it. I 857 00:54:05,360 --> 00:54:08,880 Speaker 1: think we're gonna see a lot of problems with absentee 858 00:54:09,040 --> 00:54:12,200 Speaker 1: voting and vote by mail this cycle, uh, in this election, 859 00:54:12,360 --> 00:54:14,880 Speaker 1: and it's gonna be uh not just a headache for 860 00:54:15,920 --> 00:54:19,160 Speaker 1: operatives and and uh book us on the fun lines 861 00:54:19,200 --> 00:54:22,160 Speaker 1: that campaigns to get our job done, but it's gonna 862 00:54:22,160 --> 00:54:27,080 Speaker 1: be a mess for the you know, for the election. Alright, alright, yeah, yeah, 863 00:54:27,239 --> 00:54:29,680 Speaker 1: thousand percent agree, it's going to be very interesting. To 864 00:54:29,760 --> 00:54:33,520 Speaker 1: cover all of that. Joel, what's on your radar? Yeah? 865 00:54:33,600 --> 00:54:35,880 Speaker 1: And and back at you man, and to all the listeners, 866 00:54:35,960 --> 00:54:39,319 Speaker 1: happy holidays, fights math uh for the sweet new year 867 00:54:39,520 --> 00:54:42,920 Speaker 1: in a very difficult calendar year. Um, look at you 868 00:54:43,040 --> 00:54:46,880 Speaker 1: to get along, go ahead. I you know, we've got 869 00:54:47,040 --> 00:54:50,360 Speaker 1: to do it right. So I want to build up 870 00:54:50,360 --> 00:54:52,960 Speaker 1: what Matt said though in a bit of a different angle, 871 00:54:53,200 --> 00:54:56,480 Speaker 1: and it's really popping, which is this idea that we 872 00:54:56,640 --> 00:54:59,520 Speaker 1: will not know who won the election on election need. 873 00:55:00,040 --> 00:55:02,560 Speaker 1: That doesn't mean we won't know who won, but that 874 00:55:02,800 --> 00:55:04,960 Speaker 1: just means that everyone needs to take a deep breath 875 00:55:05,360 --> 00:55:09,520 Speaker 1: that on election night it's quite likely nobody will be 876 00:55:09,600 --> 00:55:13,880 Speaker 1: called a winner, and we should ensure that we let 877 00:55:13,960 --> 00:55:16,719 Speaker 1: every vote get counted that should be counted, and that 878 00:55:16,880 --> 00:55:18,960 Speaker 1: might take some time, just like it didn't two thousand 879 00:55:19,040 --> 00:55:21,880 Speaker 1: took five is weeks. And I think for the media 880 00:55:22,000 --> 00:55:23,759 Speaker 1: and others, and there's a lot of talk about the 881 00:55:23,840 --> 00:55:26,520 Speaker 1: now about how to and Facebook and social media, how 882 00:55:26,600 --> 00:55:29,239 Speaker 1: to talk about the election not as a one night 883 00:55:29,320 --> 00:55:32,160 Speaker 1: event but as what may be a multiple day slash 884 00:55:32,239 --> 00:55:36,200 Speaker 1: week event, And that's really popping quite a bit in 885 00:55:36,880 --> 00:55:40,000 Speaker 1: the political conversation about how to ensure that we protect 886 00:55:40,080 --> 00:55:42,319 Speaker 1: that evening and don't buy its one way or the other, 887 00:55:42,680 --> 00:55:46,520 Speaker 1: and make sure honor of Constitution Day, which, by the way, 888 00:55:46,760 --> 00:55:49,799 Speaker 1: at this Constitution Day, we should dust off our old 889 00:55:49,880 --> 00:55:54,600 Speaker 1: copies of the Constitution, because the Constitution says that you 890 00:55:54,600 --> 00:55:56,840 Speaker 1: would have to have a new you'd have to ratify 891 00:55:56,880 --> 00:56:00,239 Speaker 1: the Constitution in order to get a change. Uged the 892 00:56:00,280 --> 00:56:03,360 Speaker 1: inauguration date. But Congress has the ability to change the 893 00:56:03,440 --> 00:56:07,400 Speaker 1: date of the electoral College vote. And actually Senator Marco Rubio, 894 00:56:07,480 --> 00:56:11,720 Speaker 1: a Republican from Florida, has already introduced legislation that would 895 00:56:11,800 --> 00:56:14,400 Speaker 1: make that would push back the date of the electoral 896 00:56:14,480 --> 00:56:18,040 Speaker 1: College vote to the like the first week in January, 897 00:56:18,120 --> 00:56:22,000 Speaker 1: just in preparation for what could be a very interesting 898 00:56:22,760 --> 00:56:25,480 Speaker 1: election season. My thanks to Matt Brooks, my thanks to 899 00:56:25,600 --> 00:56:27,960 Speaker 1: Joel Rubin, my thanks to you for listening. That does 900 00:56:28,000 --> 00:56:30,640 Speaker 1: it for me. Tomorrow, Senator Chris Coman's plus part one 901 00:56:30,680 --> 00:56:33,080 Speaker 1: of a very cool conversation if I do say so myself, 902 00:56:33,160 --> 00:56:35,360 Speaker 1: with Dr Mark Khyman. He's going to talk to you 903 00:56:35,440 --> 00:56:38,680 Speaker 1: about why eating healthy and investing in health and wellness 904 00:56:39,280 --> 00:56:43,880 Speaker 1: is actually better to help communities save money. That's tomorrow. 905 00:56:43,880 --> 00:56:46,120 Speaker 1: It's almost I'm Kevin Sirli, you're listening in Bloomberg