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Speaker 1: Live from our nation's camera. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do from the United States relationship with China?

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Speaker 1: Bloomberg Sound On, the Insiders, the influencers, the inside. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. You're looking at Beebany Kennedys for different ductams.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven f

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Speaker 1: m h D two Jobs Day and better than expected

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Speaker 1: numbers and the political chatter as President Trump face his

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Speaker 1: election followed out after reportedly insulting troops. We're gonna check

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Speaker 1: in with Trump campaigne. We're also going to check in

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Speaker 1: with Maddie Duppler and an exclusive conversation with the one

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Speaker 1: and only David Rubinstein on his new book. It is

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Speaker 1: a brilliant new book about lessons in leadership. Yeah, you

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Speaker 1: got to check it out, and he tells us what

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Speaker 1: Lauren Michael's Oprah Winfrey, Conna Leeza, Rice RBG and Coach

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Speaker 1: k Where do they all have in common. We'll get

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Speaker 1: to that too, but first let's gotta check in the

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Speaker 1: headlines from my good friend Nancy lions Nants, Thanks Kevin.

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Speaker 1: President Trump is denying an Atlantic report that says he

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Speaker 1: canceled a visit to a French cemetery where American troops

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Speaker 1: are buried, saying, why should I go to that cemetery?

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Speaker 1: It's filled with losers. Now, it was a fake story

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Speaker 1: written by a magazine that was probably not going to

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Speaker 1: be around much longer. His former National Security advisor, John

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Speaker 1: Bolton tells Bloomberg Radio. To him, the Atlantic story is believable.

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Speaker 1: I have not heard anybody say that the remarks attributed

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Speaker 1: to him, which I'll just repeat, I did not hear,

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Speaker 1: but I I have not heard anybody say, oh, that

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Speaker 1: doesn't sound like the Donald Trump. I know. Democratic presidential

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Speaker 1: hopeful Joe Biden says it is disgraceful if the reports

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Speaker 1: of the President's comments are true. The coronavirus pandemic is

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Speaker 1: impacting the University of Maryland athletic program is Bloomberg's Amy

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Speaker 1: Morris reports the school is suspending all athletic activities. The

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Speaker 1: athletic department brought student athletes back to campus in June

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Speaker 1: four summer workouts and has been periodically testing them. The

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Speaker 1: Baltimore Sun reports the school found a spike in coronavirus

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Speaker 1: cases forty six positive tests on ten different teams. Student

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Speaker 1: athletes will be tested again on Tuesday. The University of

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Speaker 1: Maryland resumed classes this week, many of them online. The

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Speaker 1: Big Ten Conference in August announced it would postpone fall

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Speaker 1: sports Amy Morris Bloomberg one and one oh five point

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Speaker 1: seven f m HD two. The Washington football team is

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Speaker 1: releasing running back Adrian Peterson. ESPNS Diana Rossini says his

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Speaker 1: age was the issue. Talking to a source in Washington

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Speaker 1: right now, and he said, for us, it's really just

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Speaker 1: because we like our younger guys. It's really just about

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Speaker 1: an age thing for us and the fit, and for us,

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Speaker 1: it's time to move on. Peterson is thirty five years old.

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Speaker 1: On Wall Street, it was a down day. The DAL

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Speaker 1: fell a hundred and fifty nine points to twenty eight thousand,

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Speaker 1: one thirty three. The NASDAC lost a hundred forty five

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Speaker 1: points at eleven thousand three. The SNP was down twenty

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Speaker 1: eight points. Global News twenty four hours a day on

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Speaker 1: air and on Bloomberg Quick Take, powered by more than

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Speaker 1: twenty journalists and analysts in more than a hundred twenty countries.

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Speaker 1: Nancy A lions back to you, Kevin. Thank you, Nancy.

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Speaker 1: My name is Kevin Surly. I'm the chief Washington correspondent

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Speaker 1: for Bloomberg Television and for Bloomberg Radio. A wicked day

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Speaker 1: on Wall Street as the pickup in US employment complicates

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Speaker 1: talks on fiscal stimulus, and plus the SMP five hundred

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Speaker 1: posting their worst week since June. We have complete policy

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Speaker 1: coverage and the political fallout coming up throughout the program.

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Speaker 1: But I want to begin with the special conversation with

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Speaker 1: someone who knows a thing or two about how Washington

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Speaker 1: and Wall Street collide, and that is, of course, a

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Speaker 1: man who needs no introduction. His name is David reuben Stein.

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Speaker 1: He is the founder and co executive chairman of the

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Speaker 1: Carlyle Group. He is also the host of The David

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Speaker 1: Rubinstein Show on Bloomberg Television. And he's got this great

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Speaker 1: new book called How to Lead Wisdom from the world's

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Speaker 1: greatest CEOs, founders and game changers. And what he did

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Speaker 1: was he took the TV show on Bloomberg Television and

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Speaker 1: turned it into a book that chronicles some of America's

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Speaker 1: greatest leaders. Take a listen to our conversation. All of

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Speaker 1: them are people that know how to share the credit.

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Speaker 1: They all overcame um, I would say, problems in their

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Speaker 1: in their life because they all had failed at something

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Speaker 1: or another, couldn't succeeded everything they did, and they all,

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Speaker 1: in the end, I think, learned how to create people

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Speaker 1: to follow them by being a really effective leader in

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Speaker 1: whatever they did. They master the skill and they had

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Speaker 1: other people follow them. And I want to thank you

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Speaker 1: at Bloomberg for helping make this possible, because my show

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Speaker 1: on Bloomberg is really what led to the book. Virtually

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Speaker 1: all of the interviews were done originally on peer to

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Speaker 1: peer on Bloomberg TV, and then I've edited and down

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Speaker 1: a little bit with the help of the people I

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Speaker 1: interviewed with the interviewed and then I summarize them a

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Speaker 1: little bit. So really, Bloomberg is very much involved in

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Speaker 1: the book, and you know, I think it's it's fascinating

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Speaker 1: just to see your background. Of course, you also of

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Speaker 1: course wrote the American Story. And where do you find

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Speaker 1: time to write? I mean, where do you find time

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Speaker 1: to do all of these things given your your your

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Speaker 1: other job, which, of course with the Carlisle group, well, um,

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Speaker 1: I probably not that good an athletes, so I don't

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Speaker 1: probably spend that much time playing golf or or or tennis,

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Speaker 1: and um, you know this is what I do. I enjoy.

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Speaker 1: So when when you're doing the kind of things I'm doing,

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Speaker 1: I I don't think it's work. In other words, if

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Speaker 1: you love what you're doing, it's not work. I love

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Speaker 1: everything I'm doing. I'm now financially in a position where

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Speaker 1: I don't have to do anything, but I want to

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Speaker 1: do the things that give me the greatest pleasure. Interviewing

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Speaker 1: gives me a lot of pleasure. Writing a book gives

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Speaker 1: me a lot of pleasure, but not the reason I

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Speaker 1: wanted to do this book. Because I wanted to inspire

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Speaker 1: younger people to read about people who are leaders today

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Speaker 1: and say, yes, I could do what they did, and

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Speaker 1: I can figure out how to overcome obstacles, and I

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Speaker 1: would like to be a leader like these people. So

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Speaker 1: I hope that people will get that out of the book.

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Speaker 1: And I'm giving all the proceeds uh that the author

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Speaker 1: would get to the Johns Hopkins Children's Center. I'm on

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Speaker 1: the board of Johns Hopkins Medicine. I think at the

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Speaker 1: wonderful job, and I do think that it's a worthy cause.

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Speaker 1: You know, David, When I was looking at this book

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Speaker 1: and reading about it, one of the the you know,

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Speaker 1: I often think of one of a similar book, Profiles Encourage,

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Speaker 1: which of course was by JFK. When the Poets are launched,

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Speaker 1: many think helped him ascend to the political ranks. But

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Speaker 1: from your perspective, what are some of the nuanced tips

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Speaker 1: that people can apply in their day to day lives?

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Speaker 1: You know, I think of General mccraven saying, make your bed,

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Speaker 1: make your bed at every morning. What are some of

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Speaker 1: those daily tips and tidbits that people can can practically

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Speaker 1: implement in their day to day Try to focus on

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Speaker 1: one thing. Make one skill your own so you're the

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Speaker 1: master at it. So don't try to do everything at once.

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Speaker 1: Try to master one thing. Also, don't be upset if

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Speaker 1: something doesn't work out. You'll learn a lot from that. Also,

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Speaker 1: try to explain to other people what you're doing. You

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Speaker 1: can't be a leader without followers. You have to get

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Speaker 1: other people to follow you. And I also think you

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Speaker 1: should uh continuously read. People have to exercise their brain

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Speaker 1: all the time of American college graduates never read another

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Speaker 1: book in their life after they graduate from college. Exercise

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Speaker 1: their brain. You've got to keep exercising your brain. Learn, learn, Learn.

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Speaker 1: In the end um, I do think that you have

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Speaker 1: to make your own luck a little bit. Luck is

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Speaker 1: very important, but you can make your luck by making

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Speaker 1: good contacts, by learning how to get along with people,

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Speaker 1: and by sharing the credit. Ronald Reagan famously said there's

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Speaker 1: no limit to what humans can accomplish if they're willing

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Speaker 1: to share the credit. And all right, what did you

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Speaker 1: learn from Lauren Michaels of Saturday Night Live. I learned

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Speaker 1: that here's a man for forty five years, he's been

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Speaker 1: producing one of the most popular TV shows, and he's

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Speaker 1: still as enthusiastic as he I imagine he was forty

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Speaker 1: five years ago. But he's also told me, and he

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Speaker 1: said in the book, humor has changed over the last

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Speaker 1: forty five years. Things that were funny twenty years ago

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Speaker 1: you can't make fun of today. So he's had to

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Speaker 1: evolve it all the time, and he has to keep

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Speaker 1: everybody's ego and check. He's got a lot of famous

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Speaker 1: people on that show, all of them think are the

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Speaker 1: most important person of the funniest person. But he's managed

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Speaker 1: to do that, and he's managed to do it. But

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Speaker 1: he says by listening to other people, he does he

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Speaker 1: takes the best ideas. He doesn't say, I'm Lauren Michael's

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Speaker 1: this is where we're gonna do it. He listens to

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Speaker 1: people for their ideas and he takes the best idea.

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Speaker 1: So he's quite impressive what he's achieved in that forty

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Speaker 1: five years. I think when I opened the book, I

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Speaker 1: went right to that chapter because I think, especially now

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Speaker 1: in an election cycle, everybody needs to laugh and it's

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Speaker 1: a fascinating. Look. All right, I got a couple more

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Speaker 1: people I want to go through. What about Condoleeza Rice?

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Speaker 1: What makes a good leader for Condoleeza Rice? Condo Lisa

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Speaker 1: Rice was somebody that grew up in a segregated South.

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Speaker 1: She went to the the University of Denver, and it turns

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Speaker 1: out her professor was actually Metelin Albright's father, and he

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Speaker 1: inspired her to go in foreign policy, and she ultimately

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Speaker 1: became very close to George W. Bush became his Nation

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Speaker 1: Security by and then his Secretary of State. But she

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Speaker 1: had originally thought she was going to be a classical pianist,

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Speaker 1: and she still was very accomplished in that area. And

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Speaker 1: she's a person who I think has overcome a lot

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Speaker 1: of disadvantages. And she grew up in a segregated South. Uh.

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Speaker 1: The chances for an African American woman to become what

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Speaker 1: she became were very, very limited when she was growing up.

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Speaker 1: And she's quite quite impressive, very smart, very charming, and

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Speaker 1: a really interesting person to interview. And finally, this will

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Speaker 1: be the last one. Coach k Well, I just before

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Speaker 1: if I got to be honest here, I'm not a

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Speaker 1: Duke basketball fan, but I do respect Coach k Where

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Speaker 1: did you go to school? You went to U n

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Speaker 1: C or something? Now, I went to Penn State, which

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Speaker 1: doesn't really even have a good football team. Nontlions can

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Speaker 1: get mad at me, but you know I always rooted

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Speaker 1: for U n C because I like Michael Jordan. But anyway,

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Speaker 1: go ahead, okay, Well, um, I went to Duke. I

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Speaker 1: was the chairman of the board for a number of years,

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Speaker 1: and I've gotten a no coach k quite Well, and

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Speaker 1: he's great. I mean, now I'm gonna put it all

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Speaker 1: back in my mouth. Five national championships, three Olympic gold medal.

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Speaker 1: He's a guy that he's had to change because in

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Speaker 1: the old days, you recruit a grand Hill. He was

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Speaker 1: stayed there for four years. Christian later stay there for

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Speaker 1: four years. Now every year he's in his early seventies,

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Speaker 1: he has to go recruit seventeen year olds and really

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Speaker 1: for just one year, so he's got to go keep

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Speaker 1: recruiting all the time. It's changed a lot, but he's

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Speaker 1: really made a lot of impressive people um out of

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Speaker 1: his program become successful adults. And I mean he he

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Speaker 1: kind of molds seventeen eighteen year old very few of

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Speaker 1: whom are actually going to be NBA superstars. Most of

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Speaker 1: them are going to go into different types of living

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Speaker 1: a different type of life. But he's actually made a

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Speaker 1: lot of very impressive people out of that program. And

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Speaker 1: it's his His tribute to coach Thompson of Georgetown, who

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Speaker 1: of course passed away not just the other week, was

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Speaker 1: just so moving and and that's you know, any any

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Speaker 1: athlete or coach that can really capture the human condition

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Speaker 1: in athletics, And that's really what you touch upon and

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Speaker 1: as the thread through many of your of your chapters, Uh,

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Speaker 1: it's really really remarkable. I just want to ask you,

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Speaker 1: just from your perspective, David, you grew up in Baltimore

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Speaker 1: and you've send it to the top of the ranks

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Speaker 1: in the financial world, in the political world, and now

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Speaker 1: in the author world. What's one piece of advice that

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Speaker 1: you would give yourself at the age of thirty when

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Speaker 1: you were just starting out that you maybe wish you

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Speaker 1: would have known or wish you would have focused on, uh,

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Speaker 1: back when you were just starting out. Well, don't be

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Speaker 1: upset if things don't work out all the time that

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Speaker 1: you know, just be passionate and find something you up.

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Speaker 1: When I was thirty, uh, the thirty one, Jimmy Carter

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Speaker 1: lost his reelection, So I was a White House aide

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Speaker 1: and I was now out of a job, and I

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Speaker 1: had to go recreate my career and I had to

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Speaker 1: start from the bottom again. And you know, it was

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Speaker 1: difficult to be a White House aide one day and

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Speaker 1: then starting off at the bottom of a law firm.

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Speaker 1: But I did it, and ultimately I found something I

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Speaker 1: really love, which is business and ultimately philanthropy. So you

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Speaker 1: don't despair if if roadblocks hit you. You know, if

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Speaker 1: you work hard, you can overcome almost anything. David Rubinstein,

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Speaker 1: We're gonna leave it there, of course, and co executive

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Speaker 1: chairman of the Carlisle Group, host of The David Rubinstein

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Speaker 1: Show on Bloomberg Television, and the author of the must

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Speaker 1: read new book How to Lead, Wisdom from the world's

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Speaker 1: greatest CEOs, founders and game changers. More. Next, I'm Kevin Cereli.

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Speaker 1: This is Bloomberg. This is Bloomberg's Sound On with Kevin

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Speaker 1: Shirley on Bloomberg and one oh five point seven F

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Speaker 1: m h D two Rob Day on Wall Street. But

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Speaker 1: some good economic news, folks, as it relates to the

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Speaker 1: unimp floyment rate, which really did beat expectations. My name

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Speaker 1: is Kevin, so really, I'm the chief Washington corresponded for

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Speaker 1: Bloomberg Television and for Bloomberg Radio. Let's head right into

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Speaker 1: the Bloomberg terminal. August increase in Americans entering the labor

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Speaker 1: market helped drive the unemployment rate down almost two percentage

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Speaker 1: points to eight point four percent, better than all economists estimates,

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Speaker 1: those still well above the pre crisis level. Employers added

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Speaker 1: one point three seven million people to pay rolls, about

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Speaker 1: one six of whom we're temporary workers. For UH. The

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Speaker 1: sense census that we have had. So all of this

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Speaker 1: now sets up a fascinating dynamic as we intercloser to

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Speaker 1: election day, and of course the fiscal stimulus issue as well.

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Speaker 1: Hogan Gidley's on the line. He returned to the program.

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Speaker 1: He has Trump National Press Secretary Hogan, welcome back to

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Speaker 1: the program. Thank you, sir for your time. Eight point

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Speaker 1: four percent unemployment rate beat expectations. Absolutely. I think it's

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Speaker 1: a great day for this country, a great day for

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Speaker 1: the President's policies. Is an exclamation point on what we've seen.

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Speaker 1: Has been a difficult time with the coronavirus, but we're

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Speaker 1: starting to clar our way back. The President rebuilt this

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Speaker 1: economy once, so we know he's doing it again. The

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Speaker 1: last four months have been historic job growth in this country,

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Speaker 1: shattering expectations. Um, you know, it's it's kind of interesting

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Speaker 1: to watch. With one point four million jobs, it's the

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Speaker 1: fourth highest one month job gain in US history. Very impressive,

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Speaker 1: and it's good for the people. There are still a

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Speaker 1: lot of a lot of citizens across this country hurting

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Speaker 1: because of businesses being shut down and slow to reopen. Uh.

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Speaker 1: We understand that we're far from finished, but we've literally

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Speaker 1: gained back almost half of the jobs that were lost

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Speaker 1: forty have been gained back. That's good news. It's a

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Speaker 1: great indicator of where this economy is headed. Uh And

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Speaker 1: while we were at record highs before coronavirus, we expect

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Speaker 1: to make even new highs afterwards. Of the major private

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Speaker 1: sector industry, folks, just to dive into the numbers a

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Speaker 1: little bit, retail added the most jobs two hundred thousand

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Speaker 1: and two hundred and forty nine thousand jobs for retail

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Speaker 1: two hundred and forty nine thousand jobs in retail, particularly

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Speaker 1: in general merchandise and motor vehicles. A lot of people

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Speaker 1: buying cars, restaurants, and bars, along with temporary help services

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Speaker 1: also accounted for the significant part of the hiring. Hogan.

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Speaker 1: I want to get in the weeds here because do

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Speaker 1: you think that this is going to take some of

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Speaker 1: the pressure off of their getting fiscal stimulus coming out

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Speaker 1: of Washington, d C. Just because as as these as

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Speaker 1: we get more information on the recovery, it takes some

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Speaker 1: of the pressure off of their being a massive stimulus

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Speaker 1: bill that remains to be seen. I hear talks are

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Speaker 1: going really well. Obviously, I'm no longer on the official

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Speaker 1: side over at the White House anymore. Here at the campaign,

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Speaker 1: I'm hearing some good news from the negotiations and the conversations. Look,

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Speaker 1: I understand that that the White House and and Mark

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Speaker 1: Meadows and and Steve Manuta and Larry Cudlo have been

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Speaker 1: worked night and day to try and come up with

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Speaker 1: something that um, you know Democrats will even uh sniff

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Speaker 1: at right now, they're they're still on vacation refusing to

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Speaker 1: come back. I mean, I guess Pelosi has time to

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Speaker 1: get her hair done during a shutdown in a quarantine.

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Speaker 1: But regardless of that, um, it looks like, h you know,

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Speaker 1: the American people still need help. They still need assistance.

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Speaker 1: The President forced folks to uh to stop all of

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Speaker 1: their their um uh evictions just just the other day too,

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Speaker 1: So he's taking bold action to make sure the American

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Speaker 1: people are safe and protected at this time and that

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Speaker 1: they have some money in their pockets to put food

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Speaker 1: on the table and close on their kids backs, pay rent,

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Speaker 1: pay the car note, all those things. I mean, we've

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Speaker 1: spent trillions and trillions of dollars so far, uh in

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Speaker 1: this and that's why these job numbers today are so important. Um,

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Speaker 1: We've got to continue to to to to move on

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Speaker 1: the track of of you know, lower regulations, lower taxes.

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Speaker 1: That's what's really spawning on the economy because the President

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Speaker 1: puts such good policies in place that when this coronavirus iris,

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Speaker 1: this unforeseen, unprecedented pandemic begins to move on the downswing

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Speaker 1: and get out of this country, and the therapeutics come online,

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Speaker 1: hopefully a vaccine this year as well, that will be

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Speaker 1: in prime position, uh to to reach those record highs

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Speaker 1: all over again. I want to focus on two sectors

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Speaker 1: in particular. Let's start with manufacturing. The Democrats have said

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Speaker 1: that manufacturing was in a slump before the pandemic, and

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Speaker 1: a lot of folks, obviously in battleground states very much

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Speaker 1: care about manufacturing. What policies with the president enacting a

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Speaker 1: second term, Holden Gidley, national Press Secretary for the President's relaxed,

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Speaker 1: specifically as it relates to manufacturing jobs. Well, first of all,

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Speaker 1: it's rich that Democrats would talk about the ills and

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Speaker 1: woes of of a manufacturing sector when it was their

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Speaker 1: positions that caused um, you know, three and a half

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Speaker 1: million jobs to leave American workers and go straight to China.

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Speaker 1: It was the horrific Map to Deal that kicked the

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Speaker 1: American workers squarely in the teeth, crushed the American middle

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Speaker 1: class that Joe Biden was all full and all excite

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Speaker 1: about killing eight hundred and fifty thousand jobs. It's the

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Speaker 1: Green New Deal that would kill ten million jobs in

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Speaker 1: the energy sector as well. So this president came in

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Speaker 1: and in a short amount of time, we had about

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Speaker 1: seven hundred thousand manufacturing jobs come back, more jobs in

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Speaker 1: this country than there were people to fill them. Record

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Speaker 1: low unemployment for African American, Asian American, Hispanic American women

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Speaker 1: employed at record numbers as well. So the President's policies

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Speaker 1: need to continue. He's talked about tax cuts two point oh.

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Speaker 1: We talked about that heading into the election. Here it

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Speaker 1: looks like that's something that that obviously won't happen as

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Speaker 1: everyone's focused on the re elect right now. The Democrats

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Speaker 1: refused to have conversations about anything that doesn't involve politics.

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Speaker 1: Of course that's not really a new thing for them,

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Speaker 1: but still, um, it's those types of policies that got

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Speaker 1: us to those record highs that we want to continue.

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Speaker 1: I mean, let's not forget early on in the administration

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Speaker 1: it was he was. He promised to cut two regulations

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Speaker 1: for every one he put in place. There was an

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Speaker 1: average there for a while when it was twenty two

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Speaker 1: regulations for everyone they put in place. So that's the

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Speaker 1: kind of thing that we believe spurs the economy on

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Speaker 1: and we're going to continue to push that. The President

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Speaker 1: has been adamant about it, and he thinks that's what

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Speaker 1: it works. And I think the proof is in the pudding,

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Speaker 1: and when it did work the first time again before

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Speaker 1: the virus, we know it will work a second time

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Speaker 1: as well. I want to focus on energy. You mentioned energy. Uh.

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Speaker 1: There is a big Democratic primary in Massachusetts where Senator

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Speaker 1: at Market this week beat uh, the more centrist candidate,

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Speaker 1: Congressman Joe Kennedy the third. And then the same week

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Speaker 1: you've got Democratic presidential nominee Joe Biden Uh in southwestern

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Speaker 1: Pennsylvania saying that he is not against fracking. So I mean,

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Speaker 1: is that, especially in the state like Pennsylvania, we're fracking

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Speaker 1: is so incredibly an important issue. How important from a

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Speaker 1: strategic standpoint for your campaign? Is the issue of fracking

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Speaker 1: going to be especially in a battleground state like Pennsylvania,

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Speaker 1: It's very important Uh. And look, I think, um, the

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Speaker 1: Joe Biden record on on energy is one and that

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Speaker 1: that most definitely needs to be challenged. Let's talk about energy.

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Speaker 1: This President Donald Trump unleashed energy production in this in

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Speaker 1: this country, allowing drilling in an war, allowing pipelines to

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Speaker 1: to run like they should. Uh. We saw for the

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Speaker 1: first time in decades a country in the United States

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Speaker 1: that is now a net exporter of energy. Um. And

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Speaker 1: that does another thing for us to forget the fact

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Speaker 1: that we have cheaper prices at the pump, or that

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Speaker 1: it costs less for us to heat and cool our homes. Um.

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Speaker 1: It's a national security issue. No longer is this country

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Speaker 1: but holding to the whims of countries in the Middle East,

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Speaker 1: or to Russia or China. Joe Biden wants to reverse

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Speaker 1: all of that. And now he's trying to pretend as

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Speaker 1: though he is okay with fracking. That's just not the case.

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Speaker 1: He was pressed countless times during the democrat Um Um

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Speaker 1: primary and said over and over and over, we're gonna

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Speaker 1: eliminate track, I'm gonna I'm gonna not give any more

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Speaker 1: permits for fracking. Well, that would crush the industry. That's

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Speaker 1: hundreds of thousands of jobs in Pennsylvania alone. I mean,

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Speaker 1: it's a really horrific idea about the energy sector. Who

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Speaker 1: put us, like I said, beholding other countries for pricing, um,

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Speaker 1: and also it would hurt jobs in this country. So uh,

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Speaker 1: you know, we're ready to have that conversation if that's

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Speaker 1: if that's what this election is going to be about

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Speaker 1: energy production and the jobs that creates, where we're going

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Speaker 1: to be in better shape than we are now. All right,

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Speaker 1: And just one final topic. I mean, there's been so

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Speaker 1: much fodder in the Washington Press quarterday about that Atlantic article.

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Speaker 1: There's some reports as that President Trump and actually nominee

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Speaker 1: Biden might be it might be in the same part

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Speaker 1: of Pennsylvania to honor the September eleventh Memorial and Shanksville, Pennsylvania.

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Speaker 1: Can you give us first of all, I mean, the

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Speaker 1: campaign is refuting the Atlantic article, correct, and the president's

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Speaker 1: refuting in oh absolutely, And I was there, by the way,

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Speaker 1: I was in Paris with the President and my capacity

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Speaker 1: as deputy Press secretary, and um, you know he never

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Speaker 1: said that. I mean, it's disgusting, uh and cowardly for

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Speaker 1: these quote unquote sources to refuse to put their name

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Speaker 1: to such a vile comment because they know it's fake,

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Speaker 1: they know it's fictitious, and they don't want to be

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Speaker 1: pressed on it. They don't want to be challenged on it.

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Speaker 1: We already have now double digit folks from the administration

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Speaker 1: who would have had firsthand knowledge saying it was complete,

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Speaker 1: complete and total lie. The President's never talked about the

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Speaker 1: military like that, and all you have to do is

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Speaker 1: look back at his record. My goodness, he rebuilt the

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Speaker 1: military trillions of dollars for tanks and guns and bullets

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Speaker 1: and rockets and planes and ships. Uh, he did that.

429
00:22:40,080 --> 00:22:44,160
Speaker 1: He expanded choice for healthcare for veterans like we've never

430
00:22:44,200 --> 00:22:47,560
Speaker 1: seen before. He's the one um who has done so

431
00:22:47,640 --> 00:22:50,399
Speaker 1: much to ensure the v A is cleaned up that

432
00:22:50,440 --> 00:22:52,760
Speaker 1: they could actually fire people who weren't doing their jobs

433
00:22:52,760 --> 00:22:56,320
Speaker 1: and serving the veterans. Changing the rules of engagement that

434
00:22:56,480 --> 00:23:01,040
Speaker 1: protected people in Afghanistan. Um maimings it down like five

435
00:23:02,080 --> 00:23:05,119
Speaker 1: death went down a because he changed the rules of

436
00:23:05,160 --> 00:23:07,480
Speaker 1: engagement and allow the military to actually fight and not

437
00:23:07,560 --> 00:23:10,480
Speaker 1: be hamstrong. That's what this president has done for the military.

438
00:23:10,680 --> 00:23:13,159
Speaker 1: Nobody else has done that. It was the it was

439
00:23:13,200 --> 00:23:17,240
Speaker 1: the sequester of the Democrats that caused so much of

440
00:23:17,240 --> 00:23:20,359
Speaker 1: the problems. They insisted that it include the military, and

441
00:23:20,400 --> 00:23:23,159
Speaker 1: then they took money from the military, shutting down some

442
00:23:23,240 --> 00:23:26,280
Speaker 1: of their bases. That's the Democrats philosophy. It's not ours,

443
00:23:26,280 --> 00:23:29,199
Speaker 1: it's not the presidents. He respects those who have served,

444
00:23:29,880 --> 00:23:33,320
Speaker 1: he respects those who have died. Every single engagement he

445
00:23:33,359 --> 00:23:37,200
Speaker 1: has has been impactful to his life. It's a meaningful situation.

446
00:23:37,280 --> 00:23:41,919
Speaker 1: But he reveres the members of the military. Um just

447
00:23:41,920 --> 00:23:45,359
Speaker 1: just with with a with a height that I've not

448
00:23:45,480 --> 00:23:48,600
Speaker 1: seen before. Politics isn't be magnus is one of those

449
00:23:49,080 --> 00:23:54,000
Speaker 1: really just uh intense to put it, mildly, political discussions.

450
00:23:54,000 --> 00:23:56,359
Speaker 1: That is, people are talking about But do you think

451
00:23:56,800 --> 00:23:59,160
Speaker 1: the President and Biden could meet? I mean would he

452
00:23:59,200 --> 00:24:01,280
Speaker 1: would he meet with but Biden at at a nine

453
00:24:01,280 --> 00:24:03,159
Speaker 1: eleven memorial That's my last question for you, because the

454
00:24:03,160 --> 00:24:05,520
Speaker 1: Biden campaign seems to suggest that they're open to that.

455
00:24:05,800 --> 00:24:09,880
Speaker 1: And last cycle, uh, Hillary Clinton and of course then

456
00:24:09,920 --> 00:24:14,640
Speaker 1: candidate Trump, they they were all at the same memorial

457
00:24:14,680 --> 00:24:18,880
Speaker 1: service for nine eleven, and I just figured out to ask. Yeah,

458
00:24:18,920 --> 00:24:21,600
Speaker 1: I'm not sure. Obviously I can't predict the future, but

459
00:24:21,680 --> 00:24:23,240
Speaker 1: but I mean, look, I think it's one of the

460
00:24:23,240 --> 00:24:26,600
Speaker 1: most significant days in American history, and it's as a somber,

461
00:24:27,000 --> 00:24:29,959
Speaker 1: serious day. And I imagine that that both candidates are

462
00:24:30,000 --> 00:24:33,720
Speaker 1: going to um, you know, participate in in a in

463
00:24:33,840 --> 00:24:36,440
Speaker 1: a memorial in some form or fashion. Whether they actually

464
00:24:36,480 --> 00:24:38,760
Speaker 1: end up seeing each other or talking um, you know,

465
00:24:38,960 --> 00:24:41,960
Speaker 1: I just can't tell. Okay, thank you so much, Hogan Goodley.

466
00:24:42,000 --> 00:24:45,000
Speaker 1: I really appreciate your time on this busy, busy Friday.

467
00:24:45,000 --> 00:24:48,640
Speaker 1: Thank you, Hogan, appreciate the time anytime. He is, of course,

468
00:24:48,640 --> 00:24:52,040
Speaker 1: the national Press secretary for the President's re election campaign.

469
00:24:52,160 --> 00:24:55,080
Speaker 1: Much more coming up next, Policy and politics on a

470
00:24:55,080 --> 00:24:57,720
Speaker 1: busy day for Wall Street and for Washington. I'm Kevin's

471
00:24:57,720 --> 00:25:00,840
Speaker 1: a really chief Washington correspondent for Bloomber Television and for

472
00:25:00,920 --> 00:25:06,120
Speaker 1: Bloomberg Radio. This is Bloomberg Why from our Nation's how

473
00:25:06,160 --> 00:25:09,879
Speaker 1: do we reopen this economy? The latest on how this

474
00:25:10,000 --> 00:25:13,000
Speaker 1: pandemic is impacting farmers? What does this do for the

475
00:25:13,080 --> 00:25:17,840
Speaker 1: United States relationship with China? Bloomberg sound on the insiders,

476
00:25:17,960 --> 00:25:21,600
Speaker 1: the influencers, the insides. We're responding to this crisis and

477
00:25:21,720 --> 00:25:25,040
Speaker 1: manufacturers are stepping up like never before. We're looking at

478
00:25:25,080 --> 00:25:28,120
Speaker 1: seventy kennidates for different vectis. How do we make sure

479
00:25:28,280 --> 00:25:31,760
Speaker 1: a pandemic of this scale never happens again? This is

480
00:25:31,760 --> 00:25:37,160
Speaker 1: Bloomberg Sound On with Kevin Surrelate on Bloomberg and one

481
00:25:37,200 --> 00:25:40,480
Speaker 1: oh five point seven fm h D two jobs number

482
00:25:40,560 --> 00:25:46,200
Speaker 1: smashes expectations, what does it mean for the fiscal stimulus talks?

483
00:25:46,280 --> 00:25:49,520
Speaker 1: And a wild day on Wall Street. Washington and Wall

484
00:25:49,520 --> 00:25:52,080
Speaker 1: Street seemingly on a collision course. We will get you

485
00:25:52,480 --> 00:25:54,800
Speaker 1: the latest on that as well. As I mentioned, We're

486
00:25:54,800 --> 00:25:57,919
Speaker 1: on standby for President Trump's press conference and what a

487
00:25:57,920 --> 00:26:02,719
Speaker 1: wild day in Washington is talk in full gear, in

488
00:26:02,920 --> 00:26:07,920
Speaker 1: full full swing. After that, the Atlantic report that had

489
00:26:07,960 --> 00:26:12,040
Speaker 1: the President citing fore unnamed sources. Uh the Atlantic report

490
00:26:12,119 --> 00:26:16,800
Speaker 1: says that the President had some disparaging remarks for veterans

491
00:26:16,840 --> 00:26:19,760
Speaker 1: and this is something that the re election campaign is

492
00:26:19,800 --> 00:26:23,040
Speaker 1: forcefully hitting back upon and no doubt though, shaking up

493
00:26:23,640 --> 00:26:26,520
Speaker 1: this Labor Day weekend, we begin tonight with a big story.

494
00:26:26,840 --> 00:26:29,760
Speaker 1: That is, of course, the economic numbers and the data

495
00:26:29,880 --> 00:26:33,119
Speaker 1: that we got today, plus a wild day on Wall

496
00:26:33,160 --> 00:26:37,000
Speaker 1: Street at the Labor Department. August increase in Americans entering

497
00:26:37,040 --> 00:26:41,240
Speaker 1: the labor market helped drive the unemployment rate down almost

498
00:26:41,280 --> 00:26:45,720
Speaker 1: two percentage points to eight point four percent. That's better

499
00:26:45,760 --> 00:26:49,280
Speaker 1: than all of the economist estimates, though it's still well

500
00:26:49,320 --> 00:26:53,240
Speaker 1: above the pre crisis level, but still eight point four

501
00:26:53,520 --> 00:26:58,959
Speaker 1: percent eight point four percent level unemployment. Joining us on

502
00:26:59,160 --> 00:27:02,840
Speaker 1: the sound On hotline is Mattie Doubler, founder of Forward Strategies,

503
00:27:03,040 --> 00:27:06,280
Speaker 1: senior fellow at the National Taxpayers Union, and the former

504
00:27:06,400 --> 00:27:10,880
Speaker 1: Coalitions director for the House Republican Conference. All right, Maddie,

505
00:27:11,520 --> 00:27:13,800
Speaker 1: we got a wild ay on Wall Street, but positive

506
00:27:13,880 --> 00:27:18,040
Speaker 1: unemployment numbers. Let's start with the unemployment A point four percent?

507
00:27:18,119 --> 00:27:22,399
Speaker 1: What gave Alright, so we finally are under ten percent,

508
00:27:22,440 --> 00:27:24,600
Speaker 1: which of course was the height of the unemployment rate

509
00:27:24,680 --> 00:27:27,159
Speaker 1: during the last recession, of the o o oh oh

510
00:27:27,280 --> 00:27:32,240
Speaker 1: nine great recession. Um that was really uh the surprise here.

511
00:27:32,400 --> 00:27:34,840
Speaker 1: The number of jobs at in August one point four

512
00:27:34,880 --> 00:27:38,159
Speaker 1: million was right at expectations. But the number, the reason

513
00:27:38,200 --> 00:27:40,600
Speaker 1: that the unemployment rate came down was for good reasons.

514
00:27:40,600 --> 00:27:43,040
Speaker 1: Sometimes the unemployment rate comes down because people fall out

515
00:27:43,040 --> 00:27:45,320
Speaker 1: of the labor market. That's not what we want to see.

516
00:27:45,600 --> 00:27:47,359
Speaker 1: That's not what we saw in August and August we

517
00:27:47,359 --> 00:27:50,440
Speaker 1: saw people get pulled back into the labor market. You

518
00:27:50,480 --> 00:27:53,359
Speaker 1: had the labor force participation rates go up. That's exactly

519
00:27:53,400 --> 00:27:56,560
Speaker 1: what you need to have a robust recovery. Now, there's

520
00:27:56,600 --> 00:27:59,920
Speaker 1: not to say that it was going gangbusters here, right.

521
00:28:00,000 --> 00:28:02,439
Speaker 1: I mean, we still have not recovered half of the

522
00:28:02,520 --> 00:28:05,600
Speaker 1: jobs or just under half the jobs that we lost

523
00:28:05,600 --> 00:28:07,800
Speaker 1: because of coronavirus. So there's still a lot of work

524
00:28:07,840 --> 00:28:09,840
Speaker 1: to be done. And I think that there's a number

525
00:28:09,840 --> 00:28:12,760
Speaker 1: of reasons that September might not be as rosy as August.

526
00:28:12,760 --> 00:28:14,720
Speaker 1: But this is a strong jobs report. Like I said,

527
00:28:14,720 --> 00:28:18,200
Speaker 1: that number of Keman expectations and getting that unemployment rate

528
00:28:18,240 --> 00:28:22,840
Speaker 1: below ten per cent is significant because most economists thought

529
00:28:22,840 --> 00:28:24,919
Speaker 1: that we would be at the lowest rate right now

530
00:28:25,000 --> 00:28:27,240
Speaker 1: would be around nine percent. So we're already looking a

531
00:28:27,280 --> 00:28:29,280
Speaker 1: little bit better than most of the expectations were back

532
00:28:29,320 --> 00:28:33,360
Speaker 1: in the spring. It's remarkable because of the fiscal stimulus

533
00:28:33,400 --> 00:28:40,200
Speaker 1: talks that are at an impasse and a standstill. Here's

534
00:28:40,200 --> 00:28:42,640
Speaker 1: what yeah, here's what I'll say about that. I think

535
00:28:42,720 --> 00:28:45,600
Speaker 1: that this is my challenge of the job numbers every month,

536
00:28:45,640 --> 00:28:48,280
Speaker 1: because I think that there's that old quotation and some

537
00:28:48,320 --> 00:28:51,600
Speaker 1: march way in quotation about data and facts and people

538
00:28:51,680 --> 00:28:54,040
Speaker 1: using them to their own, to flex to their own narrative,

539
00:28:54,080 --> 00:28:55,520
Speaker 1: and I think people do out with the jobs data

540
00:28:55,560 --> 00:28:57,480
Speaker 1: because you can look at this one at one point

541
00:28:57,480 --> 00:29:00,680
Speaker 1: and say, look, a million point four jobs, the unemployment

542
00:29:00,760 --> 00:29:03,720
Speaker 1: rate below ten percent. Obviously we don't need a ton

543
00:29:03,720 --> 00:29:06,600
Speaker 1: of fiscal stimula from Washington because the recovery is underway.

544
00:29:07,240 --> 00:29:08,960
Speaker 1: Or you can look at this and you can say, well,

545
00:29:08,960 --> 00:29:12,040
Speaker 1: this is the lowest pace of private employment job creation

546
00:29:12,080 --> 00:29:14,520
Speaker 1: that we've seen since we got out of the bottom

547
00:29:14,600 --> 00:29:18,560
Speaker 1: of the labor market in early March and April. So

548
00:29:18,960 --> 00:29:21,160
Speaker 1: I think that both guides probably look at the data

549
00:29:21,160 --> 00:29:23,719
Speaker 1: today and are using it to make their case. You

550
00:29:23,760 --> 00:29:26,840
Speaker 1: and I have talked time and time again about how

551
00:29:26,960 --> 00:29:30,880
Speaker 1: the situation is tenuous at best. Even if the resiliency

552
00:29:30,920 --> 00:29:33,640
Speaker 1: of the American economy and the American job market and

553
00:29:33,680 --> 00:29:37,240
Speaker 1: American employers is on full display, that is not enough

554
00:29:37,320 --> 00:29:39,920
Speaker 1: where a Congress still has a responsibility here to act

555
00:29:39,960 --> 00:29:42,000
Speaker 1: because we've got tens of millions of people who are

556
00:29:42,040 --> 00:29:44,640
Speaker 1: still out of work, because there's a lot of uncertainty

557
00:29:44,640 --> 00:29:47,280
Speaker 1: on that road ahead. Get your facts first, and then

558
00:29:47,320 --> 00:29:50,560
Speaker 1: you can distort them as much as you please. That's

559
00:29:50,800 --> 00:29:53,480
Speaker 1: the Twain quote from See to See that was quoted.

560
00:29:53,520 --> 00:29:56,320
Speaker 1: Of course, first by Brigard Kipling. All right, let's take

561
00:29:56,320 --> 00:29:58,600
Speaker 1: a listen about this unemployment rate and about the stimulus,

562
00:29:58,640 --> 00:30:02,920
Speaker 1: because Larry Cudlow spoke to my colleague John Farroh earlier

563
00:30:02,960 --> 00:30:08,000
Speaker 1: today on the open after this bombshell shattering expectations unemployment

564
00:30:08,080 --> 00:30:10,360
Speaker 1: number eight point four Take a listen to Larry Cudlough

565
00:30:10,360 --> 00:30:13,040
Speaker 1: from the White House. Here is today's number, eight point

566
00:30:13,040 --> 00:30:15,560
Speaker 1: four percent unemployment. I just want to note, I think

567
00:30:16,200 --> 00:30:20,800
Speaker 1: that shows that President Trump's idea of a generous unemployment

568
00:30:20,840 --> 00:30:24,200
Speaker 1: assistance plan that he's put as executive order, but not

569
00:30:24,280 --> 00:30:27,360
Speaker 1: necessarily an extravagant one. I think he's been born out

570
00:30:27,360 --> 00:30:30,520
Speaker 1: to be exactly right. Eight point four percent unemployment is

571
00:30:30,560 --> 00:30:34,800
Speaker 1: really the headline story of this massive jobs improvement report.

572
00:30:35,240 --> 00:30:37,760
Speaker 1: And then he went on in that interview Mattie Duppler

573
00:30:37,840 --> 00:30:41,080
Speaker 1: to say, essentially, quote, why don't we pass a more

574
00:30:41,160 --> 00:30:44,280
Speaker 1: modest package instead of something that goes into multi trillion

575
00:30:44,320 --> 00:30:47,040
Speaker 1: dollars of debt that we do not need and would

576
00:30:47,040 --> 00:30:50,080
Speaker 1: be counterproductive in the long term. Matti Duppler, you know

577
00:30:50,160 --> 00:30:53,160
Speaker 1: all the ins and outs of the Republican Caucus and

578
00:30:53,200 --> 00:30:57,520
Speaker 1: the and the various levels of differences of agreement. So

579
00:30:58,200 --> 00:31:00,960
Speaker 1: did Larry Cudlow sell that to the more moderate wing

580
00:31:00,960 --> 00:31:04,080
Speaker 1: of the Republican Party who are up there in the

581
00:31:04,120 --> 00:31:06,240
Speaker 1: Senate or the down ballot members who are up for

582
00:31:06,240 --> 00:31:09,400
Speaker 1: re election. Well, you know, Kevin, I'm not sure that

583
00:31:09,440 --> 00:31:12,120
Speaker 1: it matters, because the negotiations right now have to bend

584
00:31:12,200 --> 00:31:15,200
Speaker 1: between the administration. I mean, look, they've been between the

585
00:31:15,240 --> 00:31:18,760
Speaker 1: administration and Nancy Pelosi. Those are the only people talking

586
00:31:19,200 --> 00:31:21,600
Speaker 1: in Washington and are the only people who are involved

587
00:31:21,600 --> 00:31:24,520
Speaker 1: in getting a deal. So Republicans on the Hill are

588
00:31:24,520 --> 00:31:26,480
Speaker 1: going to have to hold their nose and agree to

589
00:31:26,560 --> 00:31:30,000
Speaker 1: whatever it is the administration gets. How Democrats to agree

590
00:31:30,040 --> 00:31:32,320
Speaker 1: to that. Those are how the negotiations are playing out

591
00:31:32,400 --> 00:31:35,240
Speaker 1: right now now. I do think it's quite silly how

592
00:31:35,320 --> 00:31:37,840
Speaker 1: both Democrats and Republicans have decided that to have a

593
00:31:37,880 --> 00:31:40,080
Speaker 1: top line number that they want to stick with Republicans

594
00:31:40,080 --> 00:31:42,480
Speaker 1: of course wanting that to be lower than Democrats because

595
00:31:42,480 --> 00:31:44,840
Speaker 1: they're concerned about the federal spending, federal spending in the

596
00:31:44,880 --> 00:31:48,320
Speaker 1: federal debt um. I think what we need policymakers to

597
00:31:48,360 --> 00:31:50,480
Speaker 1: be doing is asking where we get the biggest bang

598
00:31:50,560 --> 00:31:52,520
Speaker 1: for our book and where taxpayers are going to get

599
00:31:52,520 --> 00:31:54,640
Speaker 1: a return on the investment that they're going to make

600
00:31:54,680 --> 00:31:58,400
Speaker 1: for relief efforts. And I think that if policymakers could

601
00:31:58,760 --> 00:32:03,080
Speaker 1: frame the discussion in ways that they want a productive

602
00:32:03,160 --> 00:32:05,760
Speaker 1: use of taxpayer dollars, that would require them to do

603
00:32:05,800 --> 00:32:08,040
Speaker 1: a lot more negotiating than it's back and forth about

604
00:32:08,040 --> 00:32:10,560
Speaker 1: two trillion years, three trillion. There At the end of

605
00:32:10,560 --> 00:32:14,600
Speaker 1: the day, no one cares how much money Congress spends

606
00:32:14,640 --> 00:32:17,560
Speaker 1: if the economy can't recover, because the end of the day,

607
00:32:17,720 --> 00:32:20,040
Speaker 1: the economy is only going to do as well as

608
00:32:20,040 --> 00:32:22,280
Speaker 1: we're able to support it to get it through this

609
00:32:22,480 --> 00:32:28,400
Speaker 1: unprecedented contraption and economic uh in economic activity. So you know,

610
00:32:29,000 --> 00:32:32,200
Speaker 1: the negotiations have been have been a lackluster at best.

611
00:32:32,640 --> 00:32:35,080
Speaker 1: My hope is that Larry Cubo is whispering in the

612
00:32:35,080 --> 00:32:38,920
Speaker 1: ear of Treasury Secretary Seed Minution. Then next time you

613
00:32:38,960 --> 00:32:41,320
Speaker 1: talk to Nancy Pelosi so they can get some kind

614
00:32:41,360 --> 00:32:44,000
Speaker 1: of deal that can get through Congress. You know, it's

615
00:32:44,080 --> 00:32:48,800
Speaker 1: it's it's really remarkable just to see how you've got

616
00:32:49,000 --> 00:32:52,560
Speaker 1: the Wall Street getting a windfall with their fees in

617
00:32:52,680 --> 00:32:56,440
Speaker 1: terms of investment banking, but still the wild roller coaster

618
00:32:56,560 --> 00:32:59,040
Speaker 1: ride that we've seen in the markets, and just to

619
00:32:59,360 --> 00:33:02,320
Speaker 1: dive into my terminal for a second. US stocks bounced

620
00:33:02,360 --> 00:33:06,360
Speaker 1: back from a sharp sell off today, but still closed

621
00:33:06,360 --> 00:33:09,520
Speaker 1: at a two week low, Maddie as mega cap tech

622
00:33:09,600 --> 00:33:13,640
Speaker 1: shares sold off. Losses for Amazon, Microsoft, Facebook pushed the

623
00:33:13,640 --> 00:33:16,480
Speaker 1: tech heavy NASTAC A hundred one hundred down more than

624
00:33:16,520 --> 00:33:20,480
Speaker 1: five percent at one point, though it paired those declines

625
00:33:20,520 --> 00:33:23,000
Speaker 1: to just over one percent as the day warre on.

626
00:33:23,080 --> 00:33:26,680
Speaker 1: An investors spotted bargains gains in the financial shares, limited

627
00:33:26,720 --> 00:33:29,800
Speaker 1: losses in the SMP five index, which ended the week

628
00:33:29,960 --> 00:33:33,760
Speaker 1: down two point three percent, at the lowest level since

629
00:33:33,840 --> 00:33:41,360
Speaker 1: August one. Lest what you just said August one, that

630
00:33:41,480 --> 00:33:43,840
Speaker 1: was a short two weeks ago. And so you've got

631
00:33:43,840 --> 00:33:46,920
Speaker 1: the market. You've got mart, you've got market, You've got

632
00:33:46,960 --> 00:33:51,480
Speaker 1: investors and observers melting down over the fact that turns out,

633
00:33:51,560 --> 00:33:54,320
Speaker 1: stock don't only go up, they can come down because

634
00:33:54,320 --> 00:33:56,400
Speaker 1: the stock and an equity price is set by the

635
00:33:56,440 --> 00:33:59,000
Speaker 1: investment investors who are willing to pay that price for it.

636
00:33:59,360 --> 00:34:02,440
Speaker 1: At some going they're not willing to pay. And you know,

637
00:34:02,720 --> 00:34:05,520
Speaker 1: the amount where I just keeps going up. So you know,

638
00:34:05,640 --> 00:34:09,359
Speaker 1: I think that the recalibration on tech stox was coming

639
00:34:09,600 --> 00:34:12,120
Speaker 1: um and I do think that, particularly when you get

640
00:34:12,200 --> 00:34:15,040
Speaker 1: good job data, that's gonna start putting pressure on somebody

641
00:34:15,040 --> 00:34:17,480
Speaker 1: exacuity priced in somebody's tech names that were really imadening

642
00:34:17,680 --> 00:34:20,239
Speaker 1: from the track down economy. Stay because coming up, you're

643
00:34:20,239 --> 00:34:21,960
Speaker 1: gonna join the panel for the next block. Are You're

644
00:34:21,960 --> 00:34:23,840
Speaker 1: gonna tell me what's on your radar? Because we got

645
00:34:23,880 --> 00:34:25,960
Speaker 1: the president of five thirty now, so we're on standby

646
00:34:26,000 --> 00:34:28,280
Speaker 1: for that. I'm Kevin Surley Moore. Next, what's on your radar?

647
00:34:28,360 --> 00:34:33,960
Speaker 1: Find out you're listening to Bloomberg. You're listening to Bloomberg.

648
00:34:34,040 --> 00:34:37,799
Speaker 1: Sound on with Kevin s relate on Bloomberg one and

649
00:34:37,840 --> 00:34:40,000
Speaker 1: one Old five point seven f M h D two.

650
00:34:40,360 --> 00:34:42,800
Speaker 1: My name is Kevin Sireli. I'm the chief Washington correspondent

651
00:34:42,840 --> 00:34:48,400
Speaker 1: for Bloomberg Television and for Bloomberg Radio. It's a remarkable

652
00:34:48,440 --> 00:34:50,440
Speaker 1: that we should note this, but both President Trump and

653
00:34:50,560 --> 00:34:53,680
Speaker 1: Democratic presidential nominee Joe Biden are going to be in Shanksville,

654
00:34:53,760 --> 00:34:59,879
Speaker 1: Pennsylvania next week to honor the September eleventh anniversary date.

655
00:35:00,040 --> 00:35:03,239
Speaker 1: It's unclear whether or not their paths will cross. I

656
00:35:03,280 --> 00:35:06,600
Speaker 1: would note that back in two thousand and sixteen, during

657
00:35:06,640 --> 00:35:12,720
Speaker 1: the fifteenth year UH anniversary of of the horrific September

658
00:35:12,760 --> 00:35:16,799
Speaker 1: eleventh attacks, Hillary Clinton, then candidate Donald Trump, as well

659
00:35:16,840 --> 00:35:20,680
Speaker 1: as others Rudy Giuliani, former New York City mayors um

660
00:35:20,960 --> 00:35:24,080
Speaker 1: and others. They were all president for a New York

661
00:35:24,760 --> 00:35:29,640
Speaker 1: UH commemorative issues. So it wouldn't be out of thought

662
00:35:29,840 --> 00:35:34,040
Speaker 1: to think that Joe Biden and President Trump would would

663
00:35:34,280 --> 00:35:36,640
Speaker 1: see their paths crossed. But of course, given the heightened

664
00:35:36,800 --> 00:35:41,960
Speaker 1: US and the negativity of this UH wild virtual campaign season.

665
00:35:42,760 --> 00:35:45,759
Speaker 1: With regards to the Atlantic Report, who knows? Who knows?

666
00:35:45,800 --> 00:35:47,839
Speaker 1: I asked Open Goodley. I put it right to home

667
00:35:47,880 --> 00:35:49,839
Speaker 1: at the top of the show. He's the national Press

668
00:35:49,880 --> 00:35:53,000
Speaker 1: secretary for the Trump re election campaign. He said, Hey,

669
00:35:53,200 --> 00:35:56,160
Speaker 1: he doesn't know yet. He doesn't know. Maybe there passible

670
00:35:56,200 --> 00:35:59,520
Speaker 1: cross maybe they won't. But well, we're gonna have to

671
00:35:59,600 --> 00:36:02,840
Speaker 1: wait and see. It's time now as we wait for

672
00:36:02,880 --> 00:36:05,640
Speaker 1: President Trump. Speaking of waiting, President Trump is set to

673
00:36:05,960 --> 00:36:11,440
Speaker 1: speak at the White House at five thirty Eastern time,

674
00:36:11,880 --> 00:36:15,200
Speaker 1: so we will go there when we get that. But

675
00:36:15,280 --> 00:36:17,080
Speaker 1: I want to I want to move up my favorite

676
00:36:17,080 --> 00:36:18,600
Speaker 1: part of the show just because I really want to

677
00:36:18,600 --> 00:36:22,959
Speaker 1: make sure that our esteemed guests on this Friday get there,

678
00:36:23,719 --> 00:36:26,960
Speaker 1: get their opportunity to tell me something that's on their radar.

679
00:36:27,000 --> 00:36:30,319
Speaker 1: So let's bring back into this conversation before she has

680
00:36:30,360 --> 00:36:33,040
Speaker 1: to jump off and perform all of her other duties.

681
00:36:33,280 --> 00:36:36,200
Speaker 1: Maddie Duppler, she has founder a foreword strategy, she's a

682
00:36:36,200 --> 00:36:39,120
Speaker 1: senior Fellow at the National Taxpayer Union, she's a former

683
00:36:39,160 --> 00:36:41,759
Speaker 1: Coalitions director for the House Republican Conference, and she's one

684
00:36:41,800 --> 00:36:46,120
Speaker 1: of the best in DC going through all of these issues. Maddie,

685
00:36:46,480 --> 00:36:55,520
Speaker 1: what's on your radar do we have? Maddie, Well, Maddie,

686
00:36:55,600 --> 00:36:57,800
Speaker 1: you cut out, so we gotta have your restart. Maddie,

687
00:36:57,840 --> 00:37:01,439
Speaker 1: you're leaving us hanging what what's on your I said

688
00:37:01,480 --> 00:37:03,480
Speaker 1: tod was first day that shout out. Because what I'm

689
00:37:03,480 --> 00:37:05,480
Speaker 1: gonna do is I'm gonna run down the thing that

690
00:37:05,520 --> 00:37:08,960
Speaker 1: worries the most about the August employment report that we

691
00:37:09,040 --> 00:37:12,080
Speaker 1: got today, which is down on a Friday, such a

692
00:37:12,160 --> 00:37:14,960
Speaker 1: downer on a three day weekend. I need to I'm

693
00:37:14,960 --> 00:37:17,040
Speaker 1: going to bring it up. But I want people to

694
00:37:17,040 --> 00:37:20,040
Speaker 1: be aware that labor fourth participation participation rate that I

695
00:37:20,040 --> 00:37:24,439
Speaker 1: talked about um for women, it was completely constant July

696
00:37:24,480 --> 00:37:27,080
Speaker 1: to August, for white women, for Black women, for Hispanic

697
00:37:27,120 --> 00:37:30,520
Speaker 1: women constant across July and August. That means that the

698
00:37:30,560 --> 00:37:33,600
Speaker 1: increase that labor fourth participation rate is coming mainly from

699
00:37:33,920 --> 00:37:37,160
Speaker 1: mail workers. Now, what happened in August. Of course, kids

700
00:37:37,200 --> 00:37:38,600
Speaker 1: were supposed to go back to school, and we know

701
00:37:38,600 --> 00:37:40,120
Speaker 1: in a lot of places in the country that wasn't

702
00:37:40,160 --> 00:37:42,640
Speaker 1: the case. So I think that that indicates and again

703
00:37:42,680 --> 00:37:44,640
Speaker 1: one month is not a trend make, but I think

704
00:37:44,640 --> 00:37:47,520
Speaker 1: that indicates that women are taking on a greater share

705
00:37:47,520 --> 00:37:49,880
Speaker 1: of these childcare responsibilities, that they try to figure out

706
00:37:49,880 --> 00:37:52,000
Speaker 1: what's going to happen with school, and that could make

707
00:37:52,040 --> 00:37:54,960
Speaker 1: for a very uneven recovery if that trend does in

708
00:37:55,120 --> 00:37:57,600
Speaker 1: fact materialize. So that's something that I'm watching. It was

709
00:37:57,640 --> 00:37:59,600
Speaker 1: incredible to look at this day to day and see

710
00:38:00,000 --> 00:38:04,160
Speaker 1: a flat across from July to August for across those

711
00:38:04,239 --> 00:38:07,799
Speaker 1: uh those great categories with all women workers, like I've

712
00:38:07,840 --> 00:38:10,759
Speaker 1: never seen that before. Well, I mean, and even to

713
00:38:10,800 --> 00:38:14,319
Speaker 1: that point, I mean, just the inequality that that that

714
00:38:14,440 --> 00:38:18,600
Speaker 1: this has exposed. I don't care what economic indicators you're

715
00:38:18,600 --> 00:38:23,240
Speaker 1: looking at. I mean, just to see how the minority

716
00:38:23,239 --> 00:38:26,880
Speaker 1: groups in this country disadvantaged lower socio economic income in

717
00:38:26,920 --> 00:38:30,040
Speaker 1: this country. Mattie you and I have talked about this offline.

718
00:38:30,080 --> 00:38:33,440
Speaker 1: I remember having facetimes with you and March talking precisely

719
00:38:33,560 --> 00:38:37,640
Speaker 1: about this issue. I mean, it is it's really really staggering.

720
00:38:37,719 --> 00:38:40,319
Speaker 1: It's not just in the United States, it's worldwide. Then

721
00:38:40,360 --> 00:38:43,320
Speaker 1: you start getting in the vaccinations. I mean, people, we

722
00:38:43,400 --> 00:38:47,120
Speaker 1: got to play this forward once they're finally is A

723
00:38:49,040 --> 00:38:53,840
Speaker 1: is A is a vaccination in terms of in the market.

724
00:38:54,040 --> 00:38:57,000
Speaker 1: Think about countries that don't have as developed of an

725
00:38:57,000 --> 00:39:00,520
Speaker 1: infrastructure for vaccine vaccination execution. I mean here in the

726
00:39:00,600 --> 00:39:03,719
Speaker 1: United States and in Europe and western countries we're debating,

727
00:39:04,120 --> 00:39:07,440
Speaker 1: you know, rightfully, so how do we execute a vaccination

728
00:39:07,480 --> 00:39:09,680
Speaker 1: and mass vaccination to make sure that people get it

729
00:39:09,960 --> 00:39:12,640
Speaker 1: and an efficient matter. We already have the infrastructure built right,

730
00:39:12,680 --> 00:39:16,520
Speaker 1: everyone can go to their their pharmaceutical, their local local

731
00:39:16,600 --> 00:39:20,200
Speaker 1: drug store to get a flu shot. But in other

732
00:39:20,239 --> 00:39:22,560
Speaker 1: countries around the world, they don't even have that infrastructure.

733
00:39:22,560 --> 00:39:26,400
Speaker 1: So it really is remarkable just how exposed the world is,

734
00:39:26,400 --> 00:39:29,760
Speaker 1: the global economy is as it relates to this. All right, Maddie,

735
00:39:29,800 --> 00:39:32,000
Speaker 1: that's great, kind of I have a fun one now

736
00:39:32,040 --> 00:39:36,880
Speaker 1: that you were so down, which which is a but

737
00:39:36,920 --> 00:39:38,440
Speaker 1: it's important, So I don't want to. I don't want

738
00:39:38,440 --> 00:39:40,920
Speaker 1: to make light of the of the important issue that

739
00:39:41,000 --> 00:39:44,560
Speaker 1: you that you raised. But here's mine. Drive in movie theaters.

740
00:39:44,960 --> 00:39:48,000
Speaker 1: Here we are on a three day weekend. Here we

741
00:39:48,040 --> 00:39:50,600
Speaker 1: are in a three day weekend, and Maddie, I think

742
00:39:50,640 --> 00:39:53,480
Speaker 1: this is great. Once fading, this is on the Bloomberg Terminal.

743
00:39:53,800 --> 00:39:58,879
Speaker 1: Once fading. Drive in theater stage a pandemic era come

744
00:39:58,920 --> 00:40:02,760
Speaker 1: back does lined for the suburbs of nineteen fifties America.

745
00:40:03,120 --> 00:40:05,600
Speaker 1: The drive in theater found a new role in the

746
00:40:05,640 --> 00:40:10,200
Speaker 1: summer of twenty as a COVID safe site for collective entertainment.

747
00:40:10,200 --> 00:40:11,319
Speaker 1: And all you have to do if you're in the

748
00:40:11,400 --> 00:40:13,800
Speaker 1: d m V is Google, go on a search engine

749
00:40:13,800 --> 00:40:16,680
Speaker 1: and put it in to find one. But it's it's

750
00:40:16,760 --> 00:40:21,160
Speaker 1: really really interesting to see how I have not I'm

751
00:40:21,239 --> 00:40:25,239
Speaker 1: dying to go. And they were doing a market for

752
00:40:25,280 --> 00:40:27,279
Speaker 1: a couple of months at the beginning of all this.

753
00:40:27,640 --> 00:40:31,160
Speaker 1: We'll get yeah, I mean, and it's it's it's really remarkable.

754
00:40:31,239 --> 00:40:34,239
Speaker 1: So the Parking theater the first When do you think

755
00:40:34,280 --> 00:40:41,600
Speaker 1: the first drive in movie theater opened m n No.

756
00:40:41,880 --> 00:40:46,320
Speaker 1: Nineteen thirty three, Jersey Parking Leave it to the Jerseys

757
00:40:46,840 --> 00:40:51,000
Speaker 1: UH nineteen thirty three, but the idea didn't really take

758
00:40:51,160 --> 00:40:54,719
Speaker 1: off until the fifties, and then there were two thousand

759
00:40:55,120 --> 00:40:57,759
Speaker 1: and in nineteen fifty eight it was a peak of

760
00:40:57,920 --> 00:41:02,279
Speaker 1: four thousand lined the highways of driving movie theaters of

761
00:41:02,320 --> 00:41:06,600
Speaker 1: an increasingly suburbanized and car centric nation, but in October

762
00:41:06,920 --> 00:41:09,600
Speaker 1: there was only three and five in the in the

763
00:41:09,719 --> 00:41:13,880
Speaker 1: entire United States. There's actually a really famous one. D Yeah,

764
00:41:13,920 --> 00:41:16,839
Speaker 1: but there's a really famous one out in um out

765
00:41:16,880 --> 00:41:20,640
Speaker 1: in Virginia that the folks can go to. It's actually

766
00:41:20,640 --> 00:41:22,400
Speaker 1: one of the one of the biggest ones. But I

767
00:41:22,400 --> 00:41:24,240
Speaker 1: don't think we have the data on how many many

768
00:41:24,280 --> 00:41:28,040
Speaker 1: there are now, but I'm sure it's it's skyrocketed. So

769
00:41:28,080 --> 00:41:31,959
Speaker 1: we've just gotten the two minute boarding. So I'm gonna

770
00:41:32,040 --> 00:41:34,640
Speaker 1: let you go. But I appreciate you calling in. I

771
00:41:34,680 --> 00:41:37,440
Speaker 1: forget that we're on the radio, and appreciate you telling

772
00:41:37,880 --> 00:41:39,680
Speaker 1: what's on your radar. We got the two minute warning

773
00:41:39,680 --> 00:41:41,719
Speaker 1: for President Trump. I want to bring into this conversation.

774
00:41:41,760 --> 00:41:45,040
Speaker 1: Brandon Neil. He's a Democratic strategist who previously worked in

775
00:41:45,080 --> 00:41:50,160
Speaker 1: the Obama administration. UH and uh. He's a former political

776
00:41:50,200 --> 00:41:53,320
Speaker 1: director for the d n C. In two thousand and sixteen,

777
00:41:53,840 --> 00:41:56,279
Speaker 1: Brandon Neil, talk to me about what you are going

778
00:41:56,320 --> 00:41:58,960
Speaker 1: to be listening for at this press conference with President Trump.

779
00:42:00,000 --> 00:42:01,919
Speaker 1: They be first, thanks for having me back on Gonna

780
00:42:01,960 --> 00:42:07,240
Speaker 1: really appreciate it absolutely, but thank you and happy Friday.

781
00:42:07,440 --> 00:42:10,520
Speaker 1: Look I am looking for I think every other American

782
00:42:10,560 --> 00:42:13,120
Speaker 1: looking for in terms of just some guidance, some structure,

783
00:42:13,520 --> 00:42:17,360
Speaker 1: and some leadership. We are sixty one days out for

784
00:42:17,600 --> 00:42:21,280
Speaker 1: the from the election, and we are going backwards wins unfortunately.

785
00:42:21,280 --> 00:42:24,560
Speaker 1: I mean the Atlantic Sure that was presidented uh that

786
00:42:24,640 --> 00:42:28,080
Speaker 1: came out shows that we have a president unfortunately who

787
00:42:28,160 --> 00:42:31,960
Speaker 1: spends more time uh talking about the dead, more more

788
00:42:32,040 --> 00:42:37,280
Speaker 1: time talking about the lack of sacrifice, Uh, no sanctity

789
00:42:37,360 --> 00:42:40,120
Speaker 1: and no respect for our military, our men and women

790
00:42:40,120 --> 00:42:43,759
Speaker 1: who sacrificed their lives. This is unfortunately. So I want

791
00:42:43,760 --> 00:42:47,160
Speaker 1: from him, uh to explain and explain what exactly was

792
00:42:47,200 --> 00:42:49,640
Speaker 1: talking about. You know, it's very clear that he is

793
00:42:49,800 --> 00:42:52,880
Speaker 1: very caught up in terms of his I don't know,

794
00:42:52,920 --> 00:42:54,959
Speaker 1: it's fetish. I would say life of a better word

795
00:42:55,200 --> 00:42:58,560
Speaker 1: with the late Senator McCain, But to talk about really

796
00:42:58,600 --> 00:43:00,280
Speaker 1: clear that up and what he's talking about, and also

797
00:43:00,680 --> 00:43:02,759
Speaker 1: talk about something that he has not talked about he's

798
00:43:02,760 --> 00:43:07,240
Speaker 1: talked about Cornosha, talks about the law and order presidents.

799
00:43:07,280 --> 00:43:09,960
Speaker 1: He's not once mentioned anything about the family of Jacob

800
00:43:10,560 --> 00:43:14,520
Speaker 1: Blake in terms of uh, you know, checking in um

801
00:43:14,560 --> 00:43:17,000
Speaker 1: and being that type of leader and making sure he's

802
00:43:17,000 --> 00:43:20,080
Speaker 1: okay as well too, and also hearing more about the economy.

803
00:43:20,080 --> 00:43:25,359
Speaker 1: While we have a job loss deficit, we are still

804
00:43:25,360 --> 00:43:29,719
Speaker 1: eleven point five million people unemployed in You were listening

805
00:43:30,040 --> 00:43:35,600
Speaker 1: to President Trump speaking at a news conference where the

806
00:43:35,640 --> 00:43:40,120
Speaker 1: President went through a series series of comments as it

807
00:43:40,200 --> 00:43:44,080
Speaker 1: relates to the economy, the president taking a political victory

808
00:43:44,160 --> 00:43:46,719
Speaker 1: lap as it relates to that unemployment number eight point

809
00:43:46,760 --> 00:43:50,160
Speaker 1: four percent. He says that quote, you don't shut down

810
00:43:50,239 --> 00:43:53,960
Speaker 1: when we're setting records. Were rounding the corner on the virus.

811
00:43:54,520 --> 00:44:00,000
Speaker 1: We are rounding the corner on the virus. He also said, quote,

812
00:44:00,120 --> 00:44:04,160
Speaker 1: we had the greatest economy in history prior to the

813
00:44:04,280 --> 00:44:09,800
Speaker 1: China virus coming in. So that was President Trump. But

814
00:44:09,880 --> 00:44:11,640
Speaker 1: just to reset here, my name is Kevin curli On,

815
00:44:11,680 --> 00:44:15,280
Speaker 1: the chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

816
00:44:15,280 --> 00:44:18,080
Speaker 1: Matty Duppler is still with us. She is the founder

817
00:44:18,160 --> 00:44:22,040
Speaker 1: of Forward Strategies. Senior fellow at the National Taxpayers Union

818
00:44:22,360 --> 00:44:26,040
Speaker 1: and the former Coalitions director for the House Republican Conference.

819
00:44:26,080 --> 00:44:28,359
Speaker 1: We also are joined by Matt Brooks, who is a

820
00:44:28,400 --> 00:44:34,600
Speaker 1: Republican strategist and the executive director of the Republican Jewish Coalition. Matt,

821
00:44:34,680 --> 00:44:37,760
Speaker 1: you know here in Washington, as you know so much,

822
00:44:38,640 --> 00:44:41,880
Speaker 1: so much of the conversation, Mattie, I apologize so much

823
00:44:42,000 --> 00:44:46,560
Speaker 1: of the conversation has been about this Atlantic article, and

824
00:44:46,719 --> 00:44:49,440
Speaker 1: so much of the week had been about law and order.

825
00:44:49,920 --> 00:44:52,640
Speaker 1: But I'm wondering if if any of that is drowning

826
00:44:52,640 --> 00:44:56,879
Speaker 1: out the improving economy, what do you think? Well, so

827
00:44:57,480 --> 00:44:59,440
Speaker 1: from one Kevin, this is a challenge when I'm on

828
00:44:59,480 --> 00:45:01,120
Speaker 1: with Kevin calling on your show and we got to

829
00:45:01,280 --> 00:45:02,880
Speaker 1: Kevin's and Maddie you now he's had a matte and

830
00:45:02,960 --> 00:45:06,600
Speaker 1: Maddie and Kevin you know, we got we we need

831
00:45:06,640 --> 00:45:12,120
Speaker 1: new names. But I've definitely been called worse on air,

832
00:45:12,200 --> 00:45:15,400
Speaker 1: so it's fine. Anyways, getting back to the question of

833
00:45:15,520 --> 00:45:19,480
Speaker 1: what's breaking through, you know, I think that is the

834
00:45:19,520 --> 00:45:21,880
Speaker 1: pivotal question. We've talked about this on the show before.

835
00:45:21,960 --> 00:45:26,440
Speaker 1: Typically voters attitudes about the economy crystallized in the summer. Well,

836
00:45:26,680 --> 00:45:28,759
Speaker 1: throw out the window this summer, which has just been

837
00:45:28,800 --> 00:45:32,279
Speaker 1: a crazy, crazy time to think about anything beyond your

838
00:45:32,320 --> 00:45:35,040
Speaker 1: own survival or we're in the middle of a pandemic.

839
00:45:35,160 --> 00:45:39,799
Speaker 1: So I do think that as people are allowed to

840
00:45:39,920 --> 00:45:43,680
Speaker 1: return to some sense of normalcy in their lives, uh,

841
00:45:43,840 --> 00:45:45,960
Speaker 1: that will relate to how they feel about the economy.

842
00:45:45,960 --> 00:45:48,919
Speaker 1: Now that's different. I think send in a normal presidential year,

843
00:45:49,000 --> 00:45:51,120
Speaker 1: where how you solve what economy has to do with

844
00:45:51,400 --> 00:45:53,920
Speaker 1: your local job market, how your community is doing in

845
00:45:54,000 --> 00:45:56,319
Speaker 1: terms of employment, like those things really matter a lot.

846
00:45:56,440 --> 00:45:59,600
Speaker 1: Wage growth really matters a lot, uh in local or

847
00:45:59,600 --> 00:46:02,720
Speaker 1: excuse me, in in presidential elections. Typically that's how people

848
00:46:02,760 --> 00:46:06,319
Speaker 1: feel the economy. I think really the new measure might be,

849
00:46:06,600 --> 00:46:10,000
Speaker 1: you know, how normal people feel come November. How much

850
00:46:10,040 --> 00:46:12,600
Speaker 1: of their lives do they feel like they've gone back

851
00:46:12,760 --> 00:46:16,960
Speaker 1: to um comparing themselves the beginning of to where they

852
00:46:16,960 --> 00:46:18,920
Speaker 1: are in November. That might be kind of the new

853
00:46:19,000 --> 00:46:22,240
Speaker 1: economic metric for voters as we had towards the presidential election.

854
00:46:22,480 --> 00:46:24,080
Speaker 1: Right now we have Nut Brooks. So I want to

855
00:46:24,080 --> 00:46:26,279
Speaker 1: bring into this conversation that's so much of the week

856
00:46:26,400 --> 00:46:29,520
Speaker 1: was about law and order and now it's about veterans issues.

857
00:46:29,560 --> 00:46:32,480
Speaker 1: On a day in which the unemployment number drops SMA

858
00:46:32,760 --> 00:46:35,480
Speaker 1: smashes expectations to eight point four percent. But this is

859
00:46:35,560 --> 00:46:39,600
Speaker 1: really a potential vulnerability for the president, even even if

860
00:46:39,719 --> 00:46:41,600
Speaker 1: you know they're refuting the article in the Atlantic. But

861
00:46:41,640 --> 00:46:43,719
Speaker 1: what it does, and you know this not you know politics,

862
00:46:43,800 --> 00:46:46,279
Speaker 1: this is this is a way to drum up all

863
00:46:46,320 --> 00:46:48,680
Speaker 1: of the comments that the president is made in the

864
00:46:48,760 --> 00:46:52,000
Speaker 1: past about late Senator John McCain and others. Look, I

865
00:46:52,080 --> 00:46:56,279
Speaker 1: think that you know, this story is is a total fabrication.

866
00:46:56,400 --> 00:47:00,000
Speaker 1: I think the fact that there is nobody except unnamed

867
00:47:00,360 --> 00:47:04,840
Speaker 1: anonymous sources in this article seriously raised the credibility of

868
00:47:04,880 --> 00:47:07,040
Speaker 1: the entire piece. And as you know, Kevin and as

869
00:47:07,080 --> 00:47:10,640
Speaker 1: you've seen, John Bolton, who obviously has been no friend

870
00:47:10,680 --> 00:47:13,600
Speaker 1: of this president, has came out and said that he

871
00:47:13,640 --> 00:47:18,719
Speaker 1: doesn't believe the story to be true. Um, and you know,

872
00:47:18,800 --> 00:47:21,239
Speaker 1: I think this is you know, uh, you know, a

873
00:47:21,360 --> 00:47:23,959
Speaker 1: one day news story at best, and likely a half

874
00:47:24,080 --> 00:47:27,520
Speaker 1: news half a news cycle, especially with the jobs reports

875
00:47:27,520 --> 00:47:31,719
Speaker 1: and the economic uh data that's coming out today. And

876
00:47:31,760 --> 00:47:35,160
Speaker 1: I think, uh, this is a uh, you know, this

877
00:47:35,239 --> 00:47:38,279
Speaker 1: is a chance by the Democrats to to grasp it

878
00:47:38,400 --> 00:47:40,600
Speaker 1: some straws and try and change the debate. The reality

879
00:47:40,680 --> 00:47:44,160
Speaker 1: is it's not gonna work. So but but but it

880
00:47:44,239 --> 00:47:46,600
Speaker 1: hits in the sense that it brings up the previous combats.

881
00:47:46,640 --> 00:47:49,080
Speaker 1: I mean, and this is and it allows for Democrats

882
00:47:49,120 --> 00:47:51,920
Speaker 1: to turn the page on law and order. Would you,

883
00:47:52,200 --> 00:47:55,759
Speaker 1: I mean from a purely political strategic standpoint, Am I

884
00:47:55,840 --> 00:47:59,000
Speaker 1: wrong on that? Or no? No? I think because I

885
00:47:59,040 --> 00:48:03,000
Speaker 1: think no. I think the military and the soldiers and

886
00:48:03,200 --> 00:48:06,240
Speaker 1: you know, our men and women in uniform love this president.

887
00:48:06,280 --> 00:48:10,360
Speaker 1: And I think he has been incredibly supportive and uh,

888
00:48:10,400 --> 00:48:13,800
Speaker 1: the troops know that, uh, that he is a supporter

889
00:48:13,840 --> 00:48:15,520
Speaker 1: and a fan of those and he's got their back.

890
00:48:15,600 --> 00:48:17,960
Speaker 1: I mean, here's a guy who wants to bring the

891
00:48:17,960 --> 00:48:21,279
Speaker 1: troops home. Here's a guy who uh doesn't miss an

892
00:48:21,320 --> 00:48:24,880
Speaker 1: opportunity to travel around the world and visit with the troops. Um.

893
00:48:25,000 --> 00:48:27,200
Speaker 1: He loves the military. And it's clear to the people

894
00:48:27,200 --> 00:48:30,680
Speaker 1: who are who are serving that he's rebuilt the military. Uh.

895
00:48:30,719 --> 00:48:32,640
Speaker 1: And so I don't think this this is gonna be

896
00:48:32,640 --> 00:48:35,640
Speaker 1: credible in the eyes of veterans who you know, with

897
00:48:35,680 --> 00:48:38,040
Speaker 1: what he's done with performing the v A and getting

898
00:48:38,040 --> 00:48:41,520
Speaker 1: the v A back to some level of efficiency to

899
00:48:41,600 --> 00:48:45,560
Speaker 1: serve our great veterans. Um. I just don't think this

900
00:48:45,640 --> 00:48:49,600
Speaker 1: is a charge that sticks. Maddie coming here, just not

901
00:48:49,600 --> 00:48:51,840
Speaker 1: not not in the comments of the allegations, but on

902
00:48:51,880 --> 00:48:56,759
Speaker 1: the on the strategy behind it for both campaigns. Maddie Doubler, Right, So,

903
00:48:57,000 --> 00:49:01,640
Speaker 1: I think that I remember presidential pilot policy, our coalition politics.

904
00:49:01,719 --> 00:49:05,320
Speaker 1: So the challenge for a Biden campaign and really how

905
00:49:05,480 --> 00:49:08,479
Speaker 1: they get the progressive left, which is more and more

906
00:49:08,560 --> 00:49:11,960
Speaker 1: of the voting proportion of the Democratic Party, how they

907
00:49:11,960 --> 00:49:15,120
Speaker 1: get them excited to turn out to vote. Um, the

908
00:49:15,200 --> 00:49:18,280
Speaker 1: math Probiden, if you're looking at the map, he needs

909
00:49:18,640 --> 00:49:22,600
Speaker 1: some constellation of a scot in Michigan, Pennsylvania, Florida. How

910
00:49:22,640 --> 00:49:25,040
Speaker 1: does he play those states? Well? One way to do

911
00:49:25,040 --> 00:49:28,320
Speaker 1: that is to try and get a younger, urban progressive

912
00:49:28,440 --> 00:49:32,319
Speaker 1: vote out. Uh does this story do that? Does it

913
00:49:32,520 --> 00:49:36,720
Speaker 1: really inflame that portion of the base? I'm not sure

914
00:49:37,000 --> 00:49:39,680
Speaker 1: that it does. Now. If the play is in the

915
00:49:39,800 --> 00:49:45,080
Speaker 1: suburbs or moderate independence and potential Republican voters, then yeah.

916
00:49:45,120 --> 00:49:47,400
Speaker 1: This is something that again raises the ire of a

917
00:49:47,400 --> 00:49:50,000
Speaker 1: lot of modern Republicans who really chased at the last

918
00:49:50,080 --> 00:49:52,479
Speaker 1: four years of maybe agreeing with some of the things

919
00:49:52,520 --> 00:49:55,320
Speaker 1: that the president does in policy, but then in practice

920
00:49:55,400 --> 00:49:58,600
Speaker 1: and the style really having a challenge with it. That

921
00:49:58,680 --> 00:50:00,799
Speaker 1: might be the case, but I don't think that that's

922
00:50:00,920 --> 00:50:04,200
Speaker 1: really the primary, uh concern. I don't think that the

923
00:50:04,200 --> 00:50:07,080
Speaker 1: Binding campaign gets up every day really thinking that independent

924
00:50:07,120 --> 00:50:11,360
Speaker 1: and moderate Republican voters are their path to the presidency.

925
00:50:11,560 --> 00:50:14,280
Speaker 1: I think they're looking at the whole coalition and looking

926
00:50:14,280 --> 00:50:16,480
Speaker 1: at their base and thinking, how do we get people

927
00:50:16,520 --> 00:50:19,280
Speaker 1: excited to turn out? Because remember that was a challenge

928
00:50:19,280 --> 00:50:23,319
Speaker 1: in sixteen Enough people stayed home that Democrats didn't really

929
00:50:23,360 --> 00:50:25,239
Speaker 1: even seem to have I mean, I should put it

930
00:50:25,239 --> 00:50:27,120
Speaker 1: that away, but I was saying about fighting chance. But

931
00:50:27,160 --> 00:50:29,280
Speaker 1: you know, you look at the numbers and you think, like, wow,

932
00:50:29,520 --> 00:50:31,560
Speaker 1: people would rather stay home than vote for eight of

933
00:50:31,640 --> 00:50:35,640
Speaker 1: these candidates. That should instruct both these parties how to play.

934
00:50:35,680 --> 00:50:37,920
Speaker 1: And I'm not sure that Democrats have gotten the message up.

935
00:50:38,400 --> 00:50:43,160
Speaker 1: So you so you're saying it's it's purely turnout. Well,

936
00:50:43,200 --> 00:50:46,200
Speaker 1: I would say that, yes, and no. What I'm saying

937
00:50:46,320 --> 00:50:49,719
Speaker 1: is that people need to be excited enough to turn

938
00:50:49,760 --> 00:50:51,600
Speaker 1: out to vote. So yes, in that sense, it's turned out.

939
00:50:51,640 --> 00:50:54,120
Speaker 1: But I don't think that if you see, I think

940
00:50:54,120 --> 00:50:56,239
Speaker 1: that the Trump campaign is going to be able to

941
00:50:56,320 --> 00:51:00,120
Speaker 1: recreate its coalition and then potentially add to it. So

942
00:51:00,160 --> 00:51:02,400
Speaker 1: it can't just be turned out, has to be about

943
00:51:02,440 --> 00:51:05,880
Speaker 1: what the constellation of the coalition looks like work Democrats

944
00:51:05,880 --> 00:51:09,000
Speaker 1: and Republicans. I think the Republican coalition will look pretty

945
00:51:09,040 --> 00:51:11,080
Speaker 1: similar to what it looks like in twenty sixteen, which

946
00:51:11,120 --> 00:51:13,080
Speaker 1: was some of those Obama voters and some of those

947
00:51:13,080 --> 00:51:15,880
Speaker 1: swing states that I mentioned being compelled by this outsider,

948
00:51:15,960 --> 00:51:18,239
Speaker 1: populous message that a Trump campaign has. But I do

949
00:51:18,320 --> 00:51:20,839
Speaker 1: think that there's a possibility that you see Republicans who

950
00:51:21,080 --> 00:51:24,400
Speaker 1: were like mass on Trump in twenty sixteen able to

951
00:51:24,400 --> 00:51:26,279
Speaker 1: come that way because they like the policies they've neen

952
00:51:26,320 --> 00:51:28,879
Speaker 1: over the last four years. Compare that to Democrats, who

953
00:51:28,960 --> 00:51:31,640
Speaker 1: right now don't really have a policy platform that's really

954
00:51:31,680 --> 00:51:34,600
Speaker 1: getting people jinged up to vote about. They don't necessarily

955
00:51:34,640 --> 00:51:37,080
Speaker 1: have anything that unites the party because they have these

956
00:51:37,080 --> 00:51:38,880
Speaker 1: Internet in wars that we saw a lot of in

957
00:51:38,960 --> 00:51:41,440
Speaker 1: twenty town on the Republican side, where you've got a

958
00:51:41,560 --> 00:51:44,520
Speaker 1: really really inflamed base going after kind of a moderate,

959
00:51:45,040 --> 00:51:49,920
Speaker 1: uh moderate core of the party um And the question

960
00:51:50,000 --> 00:51:52,759
Speaker 1: is how does a candidate who comes from that moderate wing,

961
00:51:52,800 --> 00:51:55,600
Speaker 1: who stated his entire can who is states his entire

962
00:51:55,680 --> 00:51:58,400
Speaker 1: career on being a moderate guy who can reach across

963
00:51:58,440 --> 00:52:00,839
Speaker 1: the aisle. How does he feel like people that those

964
00:52:00,880 --> 00:52:03,760
Speaker 1: people don't stay home. I'm not sure the Biding campaign

965
00:52:03,760 --> 00:52:05,840
Speaker 1: has figured out how to do that yet because right

966
00:52:05,880 --> 00:52:08,239
Speaker 1: now the Democrats message Jesse Biden is not Trump and

967
00:52:08,239 --> 00:52:11,040
Speaker 1: that should be good enough for Anny Democrat. Alright, panels

968
00:52:11,040 --> 00:52:13,800
Speaker 1: gonna stay. Panel's gonna stay because we got another block

969
00:52:13,880 --> 00:52:15,600
Speaker 1: coming up, and I want to know what's on that.

970
00:52:16,000 --> 00:52:20,359
Speaker 1: Matt Brooks is radar mad Maddie featuring keV. I feel

971
00:52:20,360 --> 00:52:23,239
Speaker 1: like I don't do nothing. It's Friday, folks. We made

972
00:52:23,239 --> 00:52:25,920
Speaker 1: it a Friday much more policy and politics. But Maddie

973
00:52:25,920 --> 00:52:28,200
Speaker 1: and Matt coming up next. I'm Kevin si Really, chief

974
00:52:28,239 --> 00:52:31,000
Speaker 1: Washington correspondent for Bloomberg Television and for Bloomberg Radio. You're

975
00:52:31,000 --> 00:52:46,800
Speaker 1: listening to Bloomberg. This is Bloomberg's Sound On with Kevin

976
00:52:46,880 --> 00:52:51,000
Speaker 1: Surreley on Bloomberg one and one All five point seven

977
00:52:51,040 --> 00:52:54,840
Speaker 1: f m HD two. I'm Kevin Sireli, chief Washington correspondent

978
00:52:54,880 --> 00:52:59,160
Speaker 1: for Bloomberg Television and for Bloomberg Radio, joining us on

979
00:52:59,320 --> 00:53:03,279
Speaker 1: the panel for it today. Two of the greats Uh,

980
00:53:03,400 --> 00:53:06,400
Speaker 1: Matt Brooks Republican strategist and executive director at the Republican

981
00:53:06,480 --> 00:53:10,120
Speaker 1: Jewish Coalition. Mattie Duppler, founder of Forward Strategy, senior fellow

982
00:53:10,160 --> 00:53:13,440
Speaker 1: at the National Taxpayers Union, in former coalitions director for

983
00:53:13,480 --> 00:53:18,000
Speaker 1: the House Republican Conference. We have Brandon Neial, the Democratic strategist,

984
00:53:18,040 --> 00:53:20,279
Speaker 1: but he had to jump off. He started this three

985
00:53:20,320 --> 00:53:24,880
Speaker 1: day weekend early, you know, but he's welcome back anytime. Um,

986
00:53:24,920 --> 00:53:26,959
Speaker 1: all right, matt what's on your radar? Give me something

987
00:53:27,000 --> 00:53:30,319
Speaker 1: in the weeds, give me something geopolitical. I want to

988
00:53:30,320 --> 00:53:33,040
Speaker 1: know something on your radar as we head into a

989
00:53:33,120 --> 00:53:36,319
Speaker 1: three day weekend. I've got off Monday. What what's on

990
00:53:36,360 --> 00:53:43,680
Speaker 1: your radar? Well, the big side electoral presidential electoral politics

991
00:53:44,160 --> 00:53:51,120
Speaker 1: is the Flyers winning in Game seven and uh football

992
00:53:51,200 --> 00:53:56,600
Speaker 1: starting on September in our Philadelphia, our beloved Kevin Philadelphia. Okay, wait,

993
00:53:56,600 --> 00:53:58,920
Speaker 1: but wait before you tell me something, before you tell

994
00:53:58,960 --> 00:54:00,719
Speaker 1: me something political, I want to ask you this because

995
00:54:00,760 --> 00:54:03,000
Speaker 1: actually I haven't been able to figure this out. And

996
00:54:03,120 --> 00:54:05,520
Speaker 1: the look, are they gonna allow tailgates because they're not

997
00:54:05,560 --> 00:54:08,480
Speaker 1: allowing fans in the stadium, but you know Philly, like

998
00:54:08,520 --> 00:54:10,680
Speaker 1: I know Philly, they're going to be packing that stadium,

999
00:54:10,680 --> 00:54:13,600
Speaker 1: parking lot tailgating. It's going to be like a drive

1000
00:54:13,640 --> 00:54:17,680
Speaker 1: in NFL game. Yeah, I don't think. Yeah, I don't

1001
00:54:17,680 --> 00:54:20,120
Speaker 1: know what the mayor, what Kenny is going to be

1002
00:54:20,120 --> 00:54:22,040
Speaker 1: doing there. I don't think Kenny knows what he's gonna

1003
00:54:22,040 --> 00:54:24,600
Speaker 1: be doing. I said too much about the mayor. Yeah,

1004
00:54:24,600 --> 00:54:27,840
Speaker 1: they've taken a pretty restrictive Yeah, they've taken a pretty

1005
00:54:27,840 --> 00:54:32,400
Speaker 1: restrictive policy. So we can hope and if there are tailgates,

1006
00:54:32,440 --> 00:54:36,000
Speaker 1: I'll see you there. So, UH, it's gonna be a

1007
00:54:36,000 --> 00:54:40,839
Speaker 1: good all right. What's on your what's on serious note? Yeah,

1008
00:54:40,840 --> 00:54:43,319
Speaker 1: on a serious note. I think today we saw yet

1009
00:54:43,360 --> 00:54:47,720
Speaker 1: another diplomatic UH success from this president is that relates

1010
00:54:47,760 --> 00:54:52,200
Speaker 1: to UH the Middle East with the recognition by Kosovo

1011
00:54:52,360 --> 00:54:56,680
Speaker 1: of of Israel and agreeing to move their their embassy

1012
00:54:56,719 --> 00:54:59,680
Speaker 1: to Jerusalem. This comes on the heel of the historic

1013
00:55:00,080 --> 00:55:03,719
Speaker 1: him and that the president broker between Israel and the

1014
00:55:03,760 --> 00:55:07,520
Speaker 1: United Arab Emirates UH and reinforces again that this is

1015
00:55:07,560 --> 00:55:11,359
Speaker 1: the most pro Israel president history. And UM for my organization,

1016
00:55:11,440 --> 00:55:13,600
Speaker 1: we are in the midst of launching a ten million

1017
00:55:13,640 --> 00:55:16,759
Speaker 1: dollar effort UH targeted the Jewish community and I'm gonna

1018
00:55:16,800 --> 00:55:19,239
Speaker 1: make a Babe Ruth pointing to the stands prediction to

1019
00:55:19,320 --> 00:55:22,880
Speaker 1: you UH and your listeners that President Trump will do

1020
00:55:23,000 --> 00:55:28,000
Speaker 1: better among Jewish voters in than he did in Well,

1021
00:55:28,160 --> 00:55:30,360
Speaker 1: what why? Why is this? Why is the close of

1022
00:55:30,360 --> 00:55:32,560
Speaker 1: the announcement important? Because I do want to cover this

1023
00:55:32,600 --> 00:55:34,439
Speaker 1: and I'm glad you brought it up. Why did Why

1024
00:55:34,520 --> 00:55:39,640
Speaker 1: is that such an important announcement? You know it again?

1025
00:55:39,880 --> 00:55:42,279
Speaker 1: You know, it's how it's part of a pattern we're seeing.

1026
00:55:42,320 --> 00:55:47,600
Speaker 1: We're seeing Saudi Arabia allowing UH Israel flyover rights over

1027
00:55:47,719 --> 00:55:51,160
Speaker 1: over Saudi territory. We see the same thing with Bahrain

1028
00:55:51,280 --> 00:55:56,040
Speaker 1: allowing uh is fly So we see the normalization with

1029
00:55:56,120 --> 00:55:59,000
Speaker 1: the U A e UH now close to which is

1030
00:55:59,080 --> 00:56:02,440
Speaker 1: which is a Muslim nation? UH? You know want to

1031
00:56:03,440 --> 00:56:06,959
Speaker 1: We're on the Rabic transformation of the old border UH

1032
00:56:07,120 --> 00:56:10,799
Speaker 1: in the Middle East, and Israel is the direct beneficiary

1033
00:56:10,800 --> 00:56:15,640
Speaker 1: of it, and is important. This all comes along uh

1034
00:56:15,680 --> 00:56:20,120
Speaker 1: an access between uh, uh Puni and Shia. And really

1035
00:56:20,280 --> 00:56:22,160
Speaker 1: this is a this is an effort at building a

1036
00:56:22,280 --> 00:56:26,799
Speaker 1: broad uh swath of Arab and Arab nations and in

1037
00:56:26,840 --> 00:56:29,960
Speaker 1: Israel to stand up to a Ram And I mean

1038
00:56:30,040 --> 00:56:33,800
Speaker 1: and it really I made this point earlier to Bloomberg

1039
00:56:33,800 --> 00:56:36,680
Speaker 1: Surveillance earlier in the week just about how Iran has

1040
00:56:36,800 --> 00:56:40,080
Speaker 1: really been a driving force for so many of these countries.

1041
00:56:40,080 --> 00:56:43,440
Speaker 1: And look no further than the announcement today with Serbia

1042
00:56:43,480 --> 00:56:47,360
Speaker 1: and Kosovo that they are normalizing economic relations. And of

1043
00:56:47,400 --> 00:56:51,319
Speaker 1: course this is a massive, massive development, uh, for the

1044
00:56:51,400 --> 00:56:55,920
Speaker 1: two Balkan nations that have resolved the decades long dispute

1045
00:56:56,280 --> 00:56:59,000
Speaker 1: that once had mill I mean, we we forget about this,

1046
00:56:59,080 --> 00:57:03,680
Speaker 1: we have such sort cited geopolitical memory. Uh, but the

1047
00:57:03,880 --> 00:57:08,279
Speaker 1: US military intervened in the region just a couple of

1048
00:57:08,280 --> 00:57:11,600
Speaker 1: decades ago. I mean, and now you've got Serbia and Kosovo,

1049
00:57:11,680 --> 00:57:15,839
Speaker 1: and as you rightfully point out, because of a rod

1050
00:57:16,320 --> 00:57:20,520
Speaker 1: and and and whatnot. So it's it's another major geopolitical

1051
00:57:20,600 --> 00:57:23,280
Speaker 1: shift that has occurred in as little as two and

1052
00:57:23,320 --> 00:57:27,720
Speaker 1: a half three weeks. But and and likely will will

1053
00:57:27,800 --> 00:57:33,640
Speaker 1: outlast the whomever whomever wins in November three. That's a

1054
00:57:33,680 --> 00:57:36,160
Speaker 1: that's a great point. I appreciate you bringing it up.

1055
00:57:36,200 --> 00:57:41,439
Speaker 1: You know, I'm a I'm a I'm a geopolitical nerd heart. Yeah. Yeah.

1056
00:57:41,520 --> 00:57:43,640
Speaker 1: One of the things Kevin, just to to to put

1057
00:57:43,640 --> 00:57:45,400
Speaker 1: a fine point on it. This is something that only

1058
00:57:45,440 --> 00:57:49,240
Speaker 1: Donald Trump to do, Joe Biden. Uh, here's the proposition

1059
00:57:49,320 --> 00:57:52,480
Speaker 1: of the of the here's the politics stuff it. Because

1060
00:57:52,520 --> 00:57:57,600
Speaker 1: the Obama and Biden administration UH forced the and wanted

1061
00:57:57,640 --> 00:58:02,160
Speaker 1: to have the Iran deal. It forced a wedge between UH,

1062
00:58:02,360 --> 00:58:04,920
Speaker 1: the United States and our our allies in the Gulf States.

1063
00:58:05,040 --> 00:58:08,240
Speaker 1: And and once this president may very clear our opposition

1064
00:58:08,280 --> 00:58:11,040
Speaker 1: and taking a strong stand against Ron and allowed them

1065
00:58:11,080 --> 00:58:14,200
Speaker 1: to have the trust and confidence. Are you know, our

1066
00:58:14,240 --> 00:58:16,320
Speaker 1: Gulf State allies to have the trust and confidence in

1067
00:58:16,360 --> 00:58:19,920
Speaker 1: the administration to stand shoulder to shoulder with them against

1068
00:58:19,960 --> 00:58:21,840
Speaker 1: the RAM but also to take the risks for peace

1069
00:58:21,840 --> 00:58:26,240
Speaker 1: that we're seeing now. Yeah, fascinating, fascinating, all right, Maddie,

1070
00:58:26,520 --> 00:58:28,919
Speaker 1: because you're just you know, it's it's Maddie Doubler's job's

1071
00:58:28,960 --> 00:58:31,400
Speaker 1: day fridayou startinging a job today and just call it

1072
00:58:31,440 --> 00:58:34,640
Speaker 1: Maddie Doufler Day. What what is on? What's another thing

1073
00:58:34,680 --> 00:58:37,240
Speaker 1: on your radar? Well? I have so many things that

1074
00:58:37,320 --> 00:58:41,640
Speaker 1: right radar. Cav Let's circle back real quick to the

1075
00:58:41,760 --> 00:58:44,880
Speaker 1: stock market and what's happening there, because it's all related.

1076
00:58:44,920 --> 00:58:46,960
Speaker 1: Of course maybe if not, but this is my hypothesis.

1077
00:58:47,000 --> 00:58:48,280
Speaker 1: I'm gonna put it out here for one of my

1078
00:58:48,320 --> 00:58:50,440
Speaker 1: things that I have on my radar is that, you know,

1079
00:58:50,600 --> 00:58:54,880
Speaker 1: a world long long ago, namely in when we got

1080
00:58:54,880 --> 00:58:57,360
Speaker 1: good economic news, the market would freak out because the

1081
00:58:57,360 --> 00:58:59,479
Speaker 1: concern would be at the Federal Reserve would raise rates.

1082
00:58:59,560 --> 00:59:02,919
Speaker 1: Right now, I think we're in a strange paradigm where

1083
00:59:02,920 --> 00:59:06,360
Speaker 1: when we get good economic news, we might be seeing

1084
00:59:06,400 --> 00:59:08,320
Speaker 1: a little bit of that in tech stocks. And why

1085
00:59:08,400 --> 00:59:10,720
Speaker 1: is that, Well, it's because we've had so many big

1086
00:59:10,880 --> 00:59:14,640
Speaker 1: tech names that have benefited from this strange era of

1087
00:59:14,720 --> 00:59:17,360
Speaker 1: lockdowns and being at home and when that's been the

1088
00:59:17,400 --> 00:59:20,200
Speaker 1: thing that's been dragging the NASDAC forward for the last

1089
00:59:20,200 --> 00:59:22,960
Speaker 1: several months. Um, so we might be seeing a little

1090
00:59:22,960 --> 00:59:25,120
Speaker 1: bit of that. Like some of this equity anxiety might

1091
00:59:25,120 --> 00:59:27,160
Speaker 1: have come from the fact that there are signs that

1092
00:59:27,240 --> 00:59:30,240
Speaker 1: there's recoveries and recovering the economy. There are signs that

1093
00:59:30,840 --> 00:59:34,400
Speaker 1: some of the employment landscape is returning to normal. And

1094
00:59:34,480 --> 00:59:37,080
Speaker 1: the other side of that coin, then, is that these

1095
00:59:37,080 --> 00:59:40,160
Speaker 1: tech names don't have much justification for being on the

1096
00:59:40,200 --> 00:59:42,520
Speaker 1: tear that they've been on besides the fact that the

1097
00:59:42,520 --> 00:59:46,080
Speaker 1: Federal Reserve has uh committed to injecting tons of liquidity

1098
00:59:46,160 --> 00:59:48,280
Speaker 1: to market. But that's true, you know that helps all

1099
00:59:48,320 --> 00:59:50,680
Speaker 1: stock prices, not just the tech names. So that's what

1100
00:59:50,720 --> 00:59:53,520
Speaker 1: I'm watching. That's something that I think we might see

1101
00:59:53,520 --> 00:59:56,440
Speaker 1: a little bit more connection as we wave through the

1102
00:59:56,480 --> 00:59:59,240
Speaker 1: next couple set trading sessions here and we see what

1103
00:59:59,320 --> 01:00:02,880
Speaker 1: happens in the mark Yet, Uh, that's okay, you know

1104
01:00:02,920 --> 01:00:05,920
Speaker 1: what's on my rinar. I'm sticking with this thread, this

1105
01:00:06,080 --> 01:00:09,959
Speaker 1: thread of drive ins because Keith Urban, who we play

1106
01:00:10,040 --> 01:00:13,080
Speaker 1: on this program for the inters and outros very frequently,

1107
01:00:13,120 --> 01:00:15,840
Speaker 1: because Keith Urban is one of my is my favorite

1108
01:00:16,240 --> 01:00:19,320
Speaker 1: country music artist ever. He is the first country music

1109
01:00:19,440 --> 01:00:22,960
Speaker 1: album that I ever purchased. He did something really cool.

1110
01:00:23,200 --> 01:00:25,360
Speaker 1: We were talking about driving movie theaters. He did a

1111
01:00:25,480 --> 01:00:31,200
Speaker 1: drive in concerts. He did a drive in concert Urban

1112
01:00:31,280 --> 01:00:34,640
Speaker 1: Underground he called it, and it was in um. It

1113
01:00:34,680 --> 01:00:39,560
Speaker 1: was for Tennessee, he's based in Nashville, for the Vanderbilt

1114
01:00:39,920 --> 01:00:44,520
Speaker 1: Vanderbilt Health Hospital frontline workers and about a hundred and

1115
01:00:44,520 --> 01:00:47,840
Speaker 1: fifty cars, all very socially distant, and he and Live

1116
01:00:47,920 --> 01:00:51,000
Speaker 1: Nations sponsored it and they did a concert for Keith

1117
01:00:51,080 --> 01:00:53,800
Speaker 1: Urban and a drive in lot and they did a concert.

1118
01:00:53,840 --> 01:00:56,920
Speaker 1: I thought that was really just awesome, and it's it's

1119
01:00:56,960 --> 01:00:59,840
Speaker 1: I looked at the Bluebird Terminal and there's actually a

1120
01:01:00,040 --> 01:01:02,640
Speaker 1: story on this. And one of the first driving concerts

1121
01:01:02,640 --> 01:01:04,959
Speaker 1: of the current pandemic era took place in mid March

1122
01:01:05,200 --> 01:01:08,040
Speaker 1: and it was at an l A supermarket. It's really

1123
01:01:08,080 --> 01:01:10,919
Speaker 1: interesting that live music, which I miss. When I tell

1124
01:01:10,960 --> 01:01:13,400
Speaker 1: you I miss live music, I miss live music. And

1125
01:01:13,440 --> 01:01:16,040
Speaker 1: not even you know Bruce and Billy, Joel and all that,

1126
01:01:16,080 --> 01:01:18,480
Speaker 1: but even just you know dive bart bands. I just

1127
01:01:18,600 --> 01:01:20,920
Speaker 1: missed that. But it'd be really cool if if some

1128
01:01:21,000 --> 01:01:25,320
Speaker 1: of these bands started packing some some empty lots. Maybe

1129
01:01:25,360 --> 01:01:28,840
Speaker 1: we'll start to see that in Washington, d C. Mayor Bowser,

1130
01:01:29,000 --> 01:01:32,000
Speaker 1: maybe we'll start to see some bands doing some drive

1131
01:01:32,080 --> 01:01:36,360
Speaker 1: in some driving lots there. There there's Keith Urban, Matt Brooks,

1132
01:01:36,400 --> 01:01:38,520
Speaker 1: Maddie Doubler, Keith's gonna take us out. Have a great

1133
01:01:38,520 --> 01:01:41,400
Speaker 1: holiday weekend. I'll be back on Tuesday. Enjoy it. Be grateful,

1134
01:01:41,520 --> 01:01:44,760
Speaker 1: Be grateful, Be grateful. I'm Kevin Surili, Cheap Washington correspondent

1135
01:01:44,760 --> 01:01:47,560
Speaker 1: fro Boomberg Television and from Boomberg Radio, and I'm incredibly

1136
01:01:47,560 --> 01:01:50,920
Speaker 1: grateful to uh everyone who listens. Thank you. Have a

1137
01:01:50,920 --> 01:02:08,080
Speaker 1: great weekend. You're listening to Woomberg. Can