WEBVTT - Government Shutdown Looming; Another Debate Without Trump

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<v Speaker 1>Good morning.

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<v Speaker 2>I'm Nathan Hager and I'm Karen Moscow. Here are the

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<v Speaker 2>stories we're following today.

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<v Speaker 3>First, it is a busy morning on the political front,

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<v Speaker 3>and we begin with a looming government shutdown. A last

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<v Speaker 3>minute deal does not appear likely. Bloomberg Zamy Morris has

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<v Speaker 3>the latest from Washington.

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<v Speaker 4>House Speaker Kevin McCarthy and Republican hardliners want to make

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<v Speaker 4>the shutdown about the surge of migrants across the southern border,

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<v Speaker 4>but they're not united on exactly what they want. President

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<v Speaker 4>Biden and his advisors consider these new demands to be

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<v Speaker 4>renegging on the deal on spending levels that McCarthy made

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<v Speaker 4>during the debt sealing standoff. And now moderate Republicans are

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<v Speaker 4>looking to work with Democrats by passing a bipartisan stopgap measure,

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<v Speaker 4>and they could force the House to vote on that,

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<v Speaker 4>but not before the October first deadline. In Washington, I

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<v Speaker 4>Maymy Morris, Bloomberg Radio. All right, Amy, thank you.

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<v Speaker 2>But we're also following reaction to the second Republican presidential debate.

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<v Speaker 2>Seven candidates took this stage at the Reagan Presidential Library,

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<v Speaker 2>hosted by Fox Business. The autoworkers strike was a prominent theme,

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<v Speaker 2>with front runner Donald Trump rallying workers in Michigan instead

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<v Speaker 2>of taking part. Entrepreneur vivek Ramaswami had some advice for

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<v Speaker 2>the United Auto Workers.

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<v Speaker 5>I would say, go pick it in front of the

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<v Speaker 5>White House in Washington, DC. That's really where the protest

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<v Speaker 5>needs to be. Disastrous economic policies that have driven up prices,

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<v Speaker 5>that have driven up interest rates and mortgage rates at

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<v Speaker 5>the same time wage's remaining stagnant.

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<v Speaker 2>The candidates also took more aim at the front runner,

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<v Speaker 2>including Florida Governor Rond De Santis.

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<v Speaker 6>Donald Trump is missing in action. He should be on

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<v Speaker 6>this stage tonight. He owes it to you to defend

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<v Speaker 6>his record where they added seven point eight trillion to

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<v Speaker 6>the debt that set the stage for the inflation that

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<v Speaker 6>we have now.

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<v Speaker 2>The candidates also called for tougher border enforcement and a

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<v Speaker 2>harder line on China, but they were split on supporting Ukraine.

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<v Speaker 2>Senator Tim Scott argued to continue funding.

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<v Speaker 7>Our national vital interests is in degrading the Russian military.

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<v Speaker 2>And at one point the moderators asked which candidate they

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<v Speaker 2>choose to vote off the island. All seven refused to answer.

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<v Speaker 3>Well, Karen, this was the second debate that Donald Trump

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<v Speaker 3>chose to skip during his day he was in Michigan

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<v Speaker 3>and issued his support for the striking United otto Workers.

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<v Speaker 6>I sided with the auto workers of American with those

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<v Speaker 6>who want to make America great again, and I always will.

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<v Speaker 3>Former President Trump's trip came a day after President Biden

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<v Speaker 3>became the first sitting president in US history to walk

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<v Speaker 3>a picket line as he joined the United Auto Workers

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<v Speaker 3>outside Detroit.

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<v Speaker 2>Well Nathan. In addition to Donald Trump, another critic of

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<v Speaker 2>Joe Biden has been Texas Governor Greg Abbott. He blames

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<v Speaker 2>the administration's immigration policies for a crisis at the border.

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<v Speaker 7>I will be endorsing on the primary at the right time.

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<v Speaker 7>That said, I think that any Republican can beat Joe Biden.

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<v Speaker 7>Joe Biden is more underwater than any president in American history.

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<v Speaker 7>He is disfavored even by people in the Democrat Party

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<v Speaker 7>and by independence and of course Republicans.

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<v Speaker 2>And Texas Governor Greg Abbott made the comments in an

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<v Speaker 2>interview with a Bloomberg. Get the full conversation on the

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<v Speaker 2>Bloomberg Talks podcast feed, available wherever you get your podcasts.

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<v Speaker 3>Well Karen, another Texas resident, is in the news this morning,

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<v Speaker 3>Elon Musk and he's deepening his ties to the Pentagon

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<v Speaker 3>with a new contract. Bloomberg's Ed Baxter has that story.

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<v Speaker 8>This is Musk's first deal with a US space force,

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<v Speaker 8>the object to provide customized satellite communications for the military

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<v Speaker 8>out of the company's Starshield program. SpaceX is competing with

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<v Speaker 8>fifteen companies for nine hundred million dollars in work orders

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<v Speaker 8>through twenty twenty eight as part of the Low Earth

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<v Speaker 8>Orbit program. As process would incorporate the already existing Starlink

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<v Speaker 8>communication satellite network. Some Senators have expressed concerns to the

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<v Speaker 8>DoD that Musk could have a major impact on defense

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<v Speaker 8>at a whim. At Baxter Bloomberg.

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<v Speaker 9>Radio, all right, Ed, thanks well.

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<v Speaker 2>Checking some stocks on the move this morning, Shares of

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<v Speaker 2>Micron Technology down five percent. The shipmaker is predicting a

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<v Speaker 2>steeper loss than anticipated in the current quarter for Micron

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<v Speaker 2>and its competitors. It's been a brutal year. Personal computers

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<v Speaker 2>and smartphone customers of slashed orders as they deal with

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<v Speaker 2>lower demand and stockpiles of excess parts.

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<v Speaker 3>Another mover this morning, Karen is Peloton. Those shares are

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<v Speaker 3>surging thirteen percent on News. The fitness companies agreed to

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<v Speaker 3>a five year partnership with clothing company Lulu Lemon. Lulu

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<v Speaker 3>Lemon will make athletic War that Peloton will sell, and

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<v Speaker 3>Peloton's online classes will be offered to users of Lululemon's

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<v Speaker 3>studio mirror in Asia.

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<v Speaker 2>Nathan a developing story from one of China's property giants, Evergrand,

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<v Speaker 2>and its units have suspended trading in their shares on

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<v Speaker 2>Bloomberg's Brian Curtis has more from Hong Kong.

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<v Speaker 10>No reason given for the halt. It comes a day

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<v Speaker 10>after sources told us Evergrand's chairman Hai Kai Yan was

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<v Speaker 10>taken away by police. Way is said to be under

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<v Speaker 10>residential surveillance. It comes at a delicate time for the

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<v Speaker 10>big developer. Evergrand has scrapped key creditor meetings and revealed

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<v Speaker 10>that it cannot issue new bonds. That's a setback to

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<v Speaker 10>a planned restructuring and would seem to suggest an existential crisis.

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<v Speaker 10>You know, Hong Kong. Brian Curtis, Bloomberg.

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<v Speaker 3>Radio Brian Here in the US, Apple's getting heat in

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<v Speaker 3>early reviews of the new iPhone. Let's get the details

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<v Speaker 3>from Bloomberg's John Tucker.

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<v Speaker 11>John Nathans. Some of the first users of the iPhone

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<v Speaker 11>fifteen pro and promac say they're too hot to handle. Literally.

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<v Speaker 11>The gripes of spread across Apple online forums and social

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<v Speaker 11>media networks that the back or the side of the

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<v Speaker 11>phone becomes hot to the touch while gaming or we're

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<v Speaker 11>conducting a phone call or FaceTime video chat. For some users,

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<v Speaker 11>the issue is more prominent while the device is plugged

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<v Speaker 11>into charge. Apple technical support staffers referred customers to an

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<v Speaker 11>old support article on how to handle an iPhone in

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<v Speaker 11>New York. I'm John Tucker, Bloomberg Radio.

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<v Speaker 9>Thanks Nathan.

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<v Speaker 2>Time now for a look at some of the other

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<v Speaker 2>stories making news around the world. For that, we're joined

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<v Speaker 2>by Bloomberg Amy Morris Amy, Good morning.

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<v Speaker 4>Good morning, Karen. A House panel will hold the first

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<v Speaker 4>Biden impeachment hearing today, focusing on the business dealings of

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<v Speaker 4>the first family. Political expert Amy Daisy says House Speaker

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<v Speaker 4>Kevin McCarthy's facing pressure from his rights flank to open

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<v Speaker 4>that inquiry in the first place.

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<v Speaker 12>The Republicans haven't shown yet what they think the wrong

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<v Speaker 12>doing is. I think the bigger thing for me is

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<v Speaker 12>to witness kind of this procedure that's supposed to be

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<v Speaker 12>a matter of checks and balances, how it's become so politicized.

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<v Speaker 4>The House Oversight Committee plans to call three witnesses at

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<v Speaker 4>this first hearing, a forensic accountant, a former government tax attorney,

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<v Speaker 4>and a conservative legal scholar. New Jersey Senator Robert Menendez

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<v Speaker 4>has set to address his Democratic colleagues today concerning the

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<v Speaker 4>bribery charges he's facing. Bloomberg's Nancy Lyons brings us an update.

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<v Speaker 13>More than half his Democratic colleagues in the Senate have

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<v Speaker 13>called for Senator Menendez to step down. Senate Majority Leader

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<v Speaker 13>Chuck Schumer has stopped short of calling for him to quit,

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<v Speaker 13>but he has said his conduct fell below Senate standards. Menendez,

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<v Speaker 13>who has temporarily been replaced as chair the Senate Foreign

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<v Speaker 13>Relations Committee, is facing charges that he took gold, bars

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<v Speaker 13>and cash as payment for illegally helping three businessmen as

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<v Speaker 13>well as the country of Egypt. During his arraignment Wednesday,

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<v Speaker 13>he pleaded not guilty to the charges and was released

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<v Speaker 13>on one hundred thousand dollars bond. In Washington, Nancy Lyons

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<v Speaker 13>Bloomberg Radio.

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<v Speaker 4>The federal judge overseeing former President Trump's federal twenty twenty

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<v Speaker 4>election interference case has denied his request that she'd be removed.

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<v Speaker 4>Trump's lawyers claims the Obama appointed judge made disqualifying statements

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<v Speaker 4>while sentencing two people for their roles at the January

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<v Speaker 4>sixth Capitol Riot. President Biden says the US needs to

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<v Speaker 4>make investments in science and technology.

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<v Speaker 8>I don't know how we can be the safest, most secure,

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<v Speaker 8>and healthiest nation in the world without significant investment and

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<v Speaker 8>science and technology.

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<v Speaker 4>Speaking at a meeting with the Council of Advisors on

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<v Speaker 4>Science and Technology in San Francisco, President Biden noted the

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<v Speaker 4>profound risk if artificial intelligence isn't handled with care. He

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<v Speaker 4>acknowledged the fifteen American tech companies who already made commitments

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<v Speaker 4>to making sure AI technology is safe before releasing it

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<v Speaker 4>to the public. Global News twenty four hours a day,

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<v Speaker 4>powered by more than twenty seven hundred journalists and analysts

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<v Speaker 4>in more than one hundred twenty countries. I Amy Morrison,

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<v Speaker 4>this is Bloomberg Karen all.

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<v Speaker 2>Right, Amy, thank you, while we bring in the news

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<v Speaker 2>throughout the day here on Bloomberg Radio Own. But now

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<v Speaker 2>you can get the latest news on demand whenever you

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<v Speaker 2>want it. Subscribe to Bloomberg News Now to get the

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<v Speaker 2>latest headlines if the click of a button, get informed

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<v Speaker 2>plus apples, Spotify, and anywhere else you get your podcasts.

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<v Speaker 2>It is time now for the Bloomberg Sports Update, and

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<v Speaker 2>here's John stash Hour, John.

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<v Speaker 14>Darren Damian Lillard. I spent this entire eleven year NBA

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<v Speaker 14>career in portlet He made seven All Star Games, but

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<v Speaker 14>I'm happy with the Blazers, who've had five recent first

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<v Speaker 14>rand playoff exits and didn't make the playoffs the last

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<v Speaker 14>two seasons. He's been traded to Milwaukee, where he and

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<v Speaker 14>Giannis so to the Compo might just become the NBA's

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<v Speaker 14>top one two punch. The Bucks are now favored to

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<v Speaker 14>win the NBA Championship. He was a three team trade

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<v Speaker 14>with Phoenix. The Sons get four players, including Grayson Allen

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<v Speaker 14>and Joseph Nurkic.

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<v Speaker 11>The Blazers get Drew.

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<v Speaker 14>Holliday and DeAndre Eighton. Lillard averaged thirty two points a

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<v Speaker 14>game last season. No player who scored that much has

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<v Speaker 14>ever then changed teams. The two rookie quarterbacks who didn't

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<v Speaker 14>play last week are expected to return Sunday, Carolinas Bryce

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<v Speaker 14>Young from the injured ankle, and the Colts Anthony Richardson

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<v Speaker 14>from the concussion. The Raiders QB Jimmy Garoppolo is still

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<v Speaker 14>in concussion protocol, and the Saints Derek Carr says if

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<v Speaker 14>he can play Sunday to but an injured shoulder, he will.

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<v Speaker 14>The game tonight is Detroit and Green Bay, Texas Rangers

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<v Speaker 14>moving closer to winning the AL West with five nothing

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<v Speaker 14>win over the Angels. The Red Sox lost five nothing

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<v Speaker 14>at Fenway to Tampa Bay, the Orioles being Washington five

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<v Speaker 14>to one. Baltimore's ninety ninth win of the season. Giants

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<v Speaker 14>lost to San Diego five to two. The A's one

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<v Speaker 14>hundred and ten temp loss of the season was in Minnesota,

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<v Speaker 14>sixth to four. Terry Francona's final home game as manager

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<v Speaker 14>of the Cleveland Guardians. He's retiring after this weekend. Mepton

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<v Speaker 14>Marlin split a doubleheader in New York. The Marlins and

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<v Speaker 14>Cubs are now tied for the second wildcard of the

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<v Speaker 14>Nationalist John Stashie Our Bloomberg Sports.

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<v Speaker 8>From coast to coast, from New York to San Francisco,

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<v Speaker 8>Boston to Washington, DC, nationwide on Syrias Exam.

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<v Speaker 9>The Bloomberg Business app in Bloomberg dot com. This is

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<v Speaker 9>Bloomberg Daybreak.

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<v Speaker 1>Good morning.

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<v Speaker 3>I'm Nathan Hager. For more than a year, Texas Governor

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<v Speaker 3>Greg Abbott has been busing migrants from the southern border

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<v Speaker 3>to places like New York, Washington, and Chicago. That has

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<v Speaker 3>prompted angry complaints from Democratic leaders in those cities. Now,

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<v Speaker 3>the Republican governor is asking that they join him in

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<v Speaker 3>urging President Biden to enforce immigration laws that are already

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<v Speaker 3>on the books and take a harder stance on stemming

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<v Speaker 3>the migrant surge. Governor Abbott visited Bloomberg's World headquarters in

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<v Speaker 3>New York and spoke with Bloomberg's Julie Fine.

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<v Speaker 15>I want to return to the migrants here in New

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<v Speaker 15>York City. Mayor Adams has repeatedly warned of rising costs

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<v Speaker 15>to house and to care for them. Was your intention

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<v Speaker 15>in starting Operation Loan Star to get democratic cities like

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<v Speaker 15>New York and the federal government to do something to

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<v Speaker 15>put pressure on them with the border, Like what's the

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<v Speaker 15>endgame here, So.

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<v Speaker 7>That was not the intention at all. The beginning game

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<v Speaker 7>was to relieve the burden that was placed on small

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<v Speaker 7>Texas towns on the border. Eagle Pass population twenty eight thousand.

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<v Speaker 7>This past week they had ten thousand migrants coming to

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<v Speaker 7>the town. One third of the population of Eagle Pass

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<v Speaker 7>was occupied by migrants, and then del Rio, etc. And

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<v Speaker 7>then working with them, they said listen, we need help,

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<v Speaker 7>and that's what led to the bussing operations to Washington,

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<v Speaker 7>d C. New York, Chicago, LA, and elsewhere.

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<v Speaker 15>But you specifically targeted democratic cities. We don't see them

0:11:58.480 --> 0:12:01.880
<v Speaker 15>going frequently to very red cities in red states.

0:12:01.880 --> 0:12:03.400
<v Speaker 9>You specifically targeted them.

0:12:03.679 --> 0:12:07.160
<v Speaker 7>Well, what we did, first of all, before anybody gets

0:12:07.160 --> 0:12:10.360
<v Speaker 7>on a bus and goes anywhere they go voluntarily, they

0:12:10.440 --> 0:12:13.640
<v Speaker 7>self identify what city they want to go to. So

0:12:13.920 --> 0:12:17.679
<v Speaker 7>the New York is purposefully chosen by the migrants as

0:12:17.720 --> 0:12:20.000
<v Speaker 7>a location to go to point one. But point two,

0:12:20.920 --> 0:12:24.120
<v Speaker 7>the only place that they are typically going to are

0:12:24.160 --> 0:12:27.200
<v Speaker 7>cities that self identify as sanctuary cities, which may be

0:12:27.200 --> 0:12:29.400
<v Speaker 7>one of the reasons why some of the migrants choose

0:12:29.440 --> 0:12:29.840
<v Speaker 7>to go there.

0:12:29.880 --> 0:12:31.880
<v Speaker 15>So you're saying, these migrants come off the bus and

0:12:31.880 --> 0:12:33.600
<v Speaker 15>say take me to New York or are they given

0:12:33.600 --> 0:12:37.320
<v Speaker 15>an option of democratic blue or cities?

0:12:37.400 --> 0:12:39.839
<v Speaker 7>They are given an option about anywhere they want to go,

0:12:40.240 --> 0:12:42.480
<v Speaker 7>and the number one choice of where they wanted to

0:12:42.520 --> 0:12:43.600
<v Speaker 7>go was New York City.

0:12:43.840 --> 0:12:45.920
<v Speaker 9>So they're not given a list of seven eight cities.

0:12:45.960 --> 0:12:48.600
<v Speaker 7>They're not given specific lists that they were given opportunities

0:12:48.760 --> 0:12:51.440
<v Speaker 7>tell us where you want to go, and they choose

0:12:51.520 --> 0:12:54.680
<v Speaker 7>New York, Chicago and other lar cities that they've heard

0:12:54.720 --> 0:12:56.760
<v Speaker 7>of before, or they may have family contacts in.

0:12:57.080 --> 0:12:59.440
<v Speaker 15>So are their buses then going to cities that we

0:12:59.440 --> 0:13:02.960
<v Speaker 15>don't know of, like Miami or in redder states?

0:13:03.280 --> 0:13:07.880
<v Speaker 7>So right now there may not be, but because of

0:13:07.920 --> 0:13:10.880
<v Speaker 7>the increase in the number of people coming across the border,

0:13:11.120 --> 0:13:13.880
<v Speaker 7>there likely will be new destinations that people would be

0:13:13.920 --> 0:13:15.160
<v Speaker 7>going to invesses.

0:13:14.880 --> 0:13:16.720
<v Speaker 15>And those will include red cities and red states.

0:13:16.760 --> 0:13:17.160
<v Speaker 9>We'll see.

0:13:17.360 --> 0:13:19.040
<v Speaker 7>It depends on whether the migras choose.

0:13:19.760 --> 0:13:21.640
<v Speaker 9>Okay, let's turn to the election here.

0:13:21.880 --> 0:13:24.240
<v Speaker 15>Oh, by the way, you do say you blame President

0:13:24.280 --> 0:13:27.000
<v Speaker 15>Biden for the current border situation. You've said that, you

0:13:27.040 --> 0:13:28.199
<v Speaker 15>said his policies.

0:13:28.760 --> 0:13:30.959
<v Speaker 9>Isn't there blame to go around? Though?

0:13:31.160 --> 0:13:35.360
<v Speaker 15>When you look at former presidents, haven't solved this border crisis.

0:13:35.640 --> 0:13:39.199
<v Speaker 15>Congress hasn't solved this border crisis. Republican and Democrat.

0:13:39.440 --> 0:13:43.200
<v Speaker 7>To be clear, all the laws that are needed already

0:13:43.240 --> 0:13:46.800
<v Speaker 7>in place. That was proven by President Trump three years ago.

0:13:46.880 --> 0:13:49.520
<v Speaker 7>When Trump was still president, we had the lowest illegal

0:13:49.559 --> 0:13:53.080
<v Speaker 7>border crossings in forty years. He had the remain in

0:13:53.120 --> 0:13:56.200
<v Speaker 7>Mexico policy, the Title forty two policy, the end of

0:13:56.240 --> 0:13:59.760
<v Speaker 7>catchum release, and building the border wall. When Biden was elected,

0:14:00.480 --> 0:14:03.920
<v Speaker 7>he eliminated all of those policies and send a message

0:14:03.960 --> 0:14:06.280
<v Speaker 7>to the entire world the border is open and he

0:14:06.360 --> 0:14:08.480
<v Speaker 7>was not going to do anything to stop people from

0:14:08.559 --> 0:14:11.440
<v Speaker 7>crossing the border illegally. All of what we are dealing with,

0:14:11.480 --> 0:14:13.680
<v Speaker 7>whether it be in Texas or in New York, is

0:14:13.720 --> 0:14:16.360
<v Speaker 7>a result of Joe Biden's open border policies. And I

0:14:16.400 --> 0:14:18.439
<v Speaker 7>need to add this to be clear to your audience,

0:14:18.880 --> 0:14:21.520
<v Speaker 7>and that is of all the migrats in New York City,

0:14:21.920 --> 0:14:24.640
<v Speaker 7>Texas busts only about ten percent of the people here.

0:14:24.920 --> 0:14:27.040
<v Speaker 7>Joe Biden sent the rest of them here.

0:14:27.720 --> 0:14:31.560
<v Speaker 15>So you know, President Biden, while you say he's saying

0:14:31.600 --> 0:14:35.560
<v Speaker 15>that it's open border policies, he has never said the words.

0:14:35.280 --> 0:14:36.520
<v Speaker 9>The border is open.

0:14:36.640 --> 0:14:39.520
<v Speaker 15>And again, do you think there's enough, you know, blame

0:14:39.640 --> 0:14:40.560
<v Speaker 15>to go round between.

0:14:40.640 --> 0:14:43.600
<v Speaker 7>Come to be clear, what he has said is you

0:14:43.680 --> 0:14:46.200
<v Speaker 7>come here illegally, We're not going to send you back.

0:14:46.600 --> 0:14:49.560
<v Speaker 7>That is messaging of open border policies. He has provided

0:14:49.600 --> 0:14:52.600
<v Speaker 7>the magnet for people to come here, which is the

0:14:52.680 --> 0:14:55.600
<v Speaker 7>opposite of what Trump did. Trump send a message that

0:14:55.680 --> 0:14:57.640
<v Speaker 7>if you come here, we're going to send you back.

0:14:57.840 --> 0:14:59.560
<v Speaker 7>If you try to come here, you're going to have

0:14:59.600 --> 0:15:03.040
<v Speaker 7>to remain in Mexico. Because Joe Biden eliminated all of that.

0:15:03.360 --> 0:15:06.240
<v Speaker 7>He said, basically, the border is open. We're going to

0:15:06.320 --> 0:15:10.000
<v Speaker 7>do nothing to stop you. Julie gets worse. This was

0:15:10.240 --> 0:15:14.400
<v Speaker 7>visual on TVs across the country. Texas erected razor wire

0:15:14.480 --> 0:15:19.840
<v Speaker 7>Constantina barriers, preventing migrants from entering Texas illegally. Joe Biden's

0:15:19.840 --> 0:15:23.200
<v Speaker 7>border patrol went and cut those wires, pulled them apart,

0:15:23.360 --> 0:15:27.160
<v Speaker 7>opened them up, allowing thousands of migrants to enter Texas illegally.

0:15:28.600 --> 0:15:29.000
<v Speaker 2>Wow.

0:15:29.520 --> 0:15:32.600
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