1 00:00:02,520 --> 00:00:10,080 Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. You're listening to the 2 00:00:10,119 --> 00:00:13,880 Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at 3 00:00:13,920 --> 00:00:17,440 Speaker 1: noon and five pm Eastern on Applecarclay and Android Auto 4 00:00:17,520 --> 00:00:20,680 Speaker 1: with the Bloomberg Business App. Listen on demand wherever you 5 00:00:20,720 --> 00:00:24,520 Speaker 1: get your podcasts, or watch us live on YouTube. 6 00:00:25,480 --> 00:00:28,040 Speaker 2: Peeking out of one eye after a late Super Bowl night, 7 00:00:28,160 --> 00:00:32,239 Speaker 2: Charlie Pellett had a very important morning as well. Did 8 00:00:32,240 --> 00:00:35,640 Speaker 2: you see who rang the opening bell New York Stock Exchange? 9 00:00:35,720 --> 00:00:38,879 Speaker 2: Sydney Sweeney was apparently asking for Charlie Pellet because she 10 00:00:39,000 --> 00:00:41,640 Speaker 2: thought he was at the Stock Exchange this whole time. 11 00:00:41,680 --> 00:00:45,360 Speaker 2: Of course, he's up at World Headquarters on Lexington Avenue. 12 00:00:46,120 --> 00:00:49,159 Speaker 2: The voice of Wall Street not forgotten. I hope you 13 00:00:49,200 --> 00:00:51,560 Speaker 2: had a good night. We're back to reality. Welcome to 14 00:00:51,600 --> 00:00:54,440 Speaker 2: the Monday edition of Balance of Power here on Bloomberg Radio. 15 00:00:55,280 --> 00:00:57,320 Speaker 3: And yes, we express. 16 00:00:57,040 --> 00:01:00,960 Speaker 2: Condolences to those listening on ninety two nine streaming live 17 00:01:01,600 --> 00:01:04,960 Speaker 2: on YouTube unless you're watching us right now on Bloomberg Originals. 18 00:01:04,959 --> 00:01:08,840 Speaker 2: Thanks for being with us. Bitcoin just sliding back below seventy. 19 00:01:08,880 --> 00:01:11,000 Speaker 2: I thought crypto would get a lift out of the 20 00:01:11,040 --> 00:01:14,960 Speaker 2: Super Bowl with alphabets, dollar bond sale drawing over one 21 00:01:15,040 --> 00:01:17,240 Speaker 2: hundred billion dollars in demand. This is something that we're 22 00:01:17,240 --> 00:01:19,240 Speaker 2: going to be talking about quite a bit. Google shares 23 00:01:19,280 --> 00:01:22,720 Speaker 2: Alphabet up one percent, three hundred and twenty six dollars. 24 00:01:23,280 --> 00:01:24,200 Speaker 3: I have news. 25 00:01:24,520 --> 00:01:26,840 Speaker 2: It has nothing to do with the Epstein files or 26 00:01:26,920 --> 00:01:29,880 Speaker 2: the potential closure of the Department of Homeland Security, because 27 00:01:29,920 --> 00:01:32,160 Speaker 2: tomorrow is a big day around here, and I want 28 00:01:32,200 --> 00:01:37,720 Speaker 2: you to just file this away for Balance of Power 29 00:01:37,760 --> 00:01:38,800 Speaker 2: Tuesday editions. 30 00:01:38,840 --> 00:01:41,600 Speaker 3: Do you know who's coming back? Producer James knows. 31 00:01:42,120 --> 00:01:44,600 Speaker 2: We told her we'd keep the seat warm, and I 32 00:01:44,640 --> 00:01:48,600 Speaker 2: want you to know that Bloomberg's Kaylee Lines is going 33 00:01:48,680 --> 00:01:52,560 Speaker 2: to be back here tomorrow on Bloomberg TV and Radio. 34 00:01:52,840 --> 00:01:55,200 Speaker 2: It's been a six month walk through the desert, although 35 00:01:55,240 --> 00:01:58,240 Speaker 2: I met many roadside profits along the way, and if 36 00:01:58,280 --> 00:02:00,360 Speaker 2: you were with us, you know exactly who I'm talking about, 37 00:02:00,520 --> 00:02:03,160 Speaker 2: being able to spend time with some great professionals. But 38 00:02:03,200 --> 00:02:04,880 Speaker 2: we're super excited to have Kaylee back. 39 00:02:05,000 --> 00:02:06,400 Speaker 3: Yeah. I just went right on the terminal. 40 00:02:06,400 --> 00:02:08,799 Speaker 2: I said it out loud, and I hope that Kaylee 41 00:02:08,840 --> 00:02:11,519 Speaker 2: is listening and watching. Actually I hope not just wait 42 00:02:11,560 --> 00:02:15,400 Speaker 2: till tomorrow. It was like a walk through the Revenant 43 00:02:15,400 --> 00:02:18,320 Speaker 2: getting in here this morning, Washington, DC is still in 44 00:02:18,360 --> 00:02:22,040 Speaker 2: sconstin ice. It is so cold outside. I might have 45 00:02:22,120 --> 00:02:25,520 Speaker 2: to sleep inside a horse to stay alive. Watch the movie. 46 00:02:27,760 --> 00:02:30,400 Speaker 2: And as we come off this super Bowl, I know 47 00:02:30,440 --> 00:02:33,880 Speaker 2: you're feeling terrible right now. If you're listening to us 48 00:02:33,880 --> 00:02:37,160 Speaker 2: on ninety two nine, you've experienced this feeling before. But 49 00:02:37,200 --> 00:02:39,720 Speaker 2: a bit of consolation, the Super Bowl Indicator. Does Charlie 50 00:02:39,720 --> 00:02:43,239 Speaker 2: know about this? I haven't heard anybody talk about Super 51 00:02:43,240 --> 00:02:45,440 Speaker 2: Bowl Indicator this year, but think about this. 52 00:02:45,440 --> 00:02:47,680 Speaker 3: This goes back to the nineteen seventies New York Times. 53 00:02:48,280 --> 00:02:50,640 Speaker 2: The indicator suggests that a Super Bowl victory for the 54 00:02:50,720 --> 00:02:57,519 Speaker 2: NFL's National Football Conference team, the guys who won portends 55 00:02:57,600 --> 00:03:00,800 Speaker 2: a bull market for stocks in the year ahead, will 56 00:03:00,840 --> 00:03:03,720 Speaker 2: win for the American Football Conference team a bear market. 57 00:03:03,800 --> 00:03:04,440 Speaker 3: So there you go. 58 00:03:04,560 --> 00:03:06,760 Speaker 2: Now, you're going to tell me that this hasn't been 59 00:03:06,760 --> 00:03:09,640 Speaker 2: so accurate in years past, but consider starting from Super 60 00:03:09,680 --> 00:03:13,200 Speaker 2: Bowl one, have you guys seen this? This is amazing stuff. 61 00:03:13,639 --> 00:03:17,360 Speaker 2: The LA Coliseum, nineteen sixty seven, Tracking market reaction to 62 00:03:17,400 --> 00:03:19,720 Speaker 2: the various champions. All the way to nineteen ninety seven, 63 00:03:20,280 --> 00:03:24,280 Speaker 2: the Super Bowl Indicator had a ninety percent success rate. 64 00:03:24,680 --> 00:03:26,480 Speaker 3: This was a big talker back then. 65 00:03:27,880 --> 00:03:30,320 Speaker 2: Granted it has slumped to around forty percent since then, 66 00:03:30,360 --> 00:03:31,720 Speaker 2: so we don't talk about it as much. 67 00:03:31,760 --> 00:03:37,440 Speaker 3: But hey, Seahawks rally. Now. 68 00:03:37,480 --> 00:03:39,720 Speaker 2: The president's been talking about the Super Bowl. He was 69 00:03:39,800 --> 00:03:42,600 Speaker 2: posting about the halftime show. You knew he wasn't gonna 70 00:03:42,680 --> 00:03:44,200 Speaker 2: like it, even though we know for a fact we've 71 00:03:44,200 --> 00:03:47,240 Speaker 2: seen the videos that the halftime show with Bad Bunny 72 00:03:47,360 --> 00:03:49,480 Speaker 2: was on the big screens at mar A Lago last 73 00:03:49,520 --> 00:03:53,080 Speaker 2: night for the Super Bowl party. There are big questions 74 00:03:53,080 --> 00:03:56,200 Speaker 2: as everybody gets back to reality here about yeah, the 75 00:03:56,200 --> 00:04:00,520 Speaker 2: Epstein Files. Lawmakers are getting their first unredacted did view 76 00:04:00,640 --> 00:04:04,800 Speaker 2: in a private room without electronic devices today, and the 77 00:04:04,840 --> 00:04:06,720 Speaker 2: fact that no one's getting along in the Department of 78 00:04:06,760 --> 00:04:09,240 Speaker 2: Homeland Security is likely to run out of money on Friday. 79 00:04:09,360 --> 00:04:12,000 Speaker 2: We're five days out from a partial shutdown a single 80 00:04:12,040 --> 00:04:15,720 Speaker 2: department that includes some pretty important stuff like FEMA and 81 00:04:15,760 --> 00:04:17,080 Speaker 2: the TSA. 82 00:04:18,160 --> 00:04:18,719 Speaker 3: And Bloomberg. 83 00:04:18,760 --> 00:04:22,360 Speaker 2: Washington correspondent Tyler Kendall's been spending half of her career 84 00:04:22,400 --> 00:04:23,400 Speaker 2: counting down to shutdown. 85 00:04:23,520 --> 00:04:24,239 Speaker 3: Here we go again. 86 00:04:24,320 --> 00:04:27,600 Speaker 2: She's with us in our Washington bureau. You must have 87 00:04:27,680 --> 00:04:32,479 Speaker 2: been exhausted this morning. Super Bowl day after. Yeah, okay, 88 00:04:32,839 --> 00:04:36,440 Speaker 2: five days from now, what happens. Well, I'm going to 89 00:04:36,440 --> 00:04:38,599 Speaker 2: ask Nathan Dean that too, so I'm not putting you 90 00:04:38,720 --> 00:04:39,520 Speaker 2: on the spot here. 91 00:04:39,640 --> 00:04:42,480 Speaker 4: Well, as you alluded to, it appears that Congress loves 92 00:04:42,560 --> 00:04:47,200 Speaker 4: a deadline, particularly one that goes up against a holiday, 93 00:04:47,920 --> 00:04:50,200 Speaker 4: a long weekend. Lommaker's going to be out of town 94 00:04:50,360 --> 00:04:53,039 Speaker 4: next week, so perhaps that could spur some momentum, But 95 00:04:53,080 --> 00:04:55,880 Speaker 4: at this point, Joe, it doesn't look that likely. And 96 00:04:55,920 --> 00:04:58,520 Speaker 4: to your question about what's going to happen, we know 97 00:04:58,640 --> 00:05:02,080 Speaker 4: that a partial show down, a shutdown that only impacts 98 00:05:02,279 --> 00:05:05,159 Speaker 4: the Department of Homeland Security is ultimately not going to 99 00:05:05,160 --> 00:05:08,400 Speaker 4: have that big an impact on Immigration and Customs enforcement 100 00:05:08,480 --> 00:05:13,160 Speaker 4: because that agency received federal funding under the One Big 101 00:05:13,200 --> 00:05:16,279 Speaker 4: Beautiful Bill to the tune of seventy five billion dollars 102 00:05:16,320 --> 00:05:18,640 Speaker 4: they can use over four years. So that means that 103 00:05:18,680 --> 00:05:21,920 Speaker 4: we are looking for potential implications here for other agencies 104 00:05:22,000 --> 00:05:26,200 Speaker 4: under DHS, like FEMA, like TSA, which we know was 105 00:05:26,279 --> 00:05:29,880 Speaker 4: really impacted during the last and longest government shut down 106 00:05:29,920 --> 00:05:33,360 Speaker 4: in US history and ultimately helped to spur a compromise. 107 00:05:33,440 --> 00:05:35,960 Speaker 4: And I would expect Republicans to really hit on this 108 00:05:36,040 --> 00:05:39,039 Speaker 4: point this week, they're going to try to blame Democrats 109 00:05:39,040 --> 00:05:41,400 Speaker 4: for any delays that you may see, saying that this 110 00:05:42,880 --> 00:05:46,240 Speaker 4: tactic to try to codify some changes to ICE, tack 111 00:05:46,279 --> 00:05:49,520 Speaker 4: it on to tangible legislation isn't going to impact ICE 112 00:05:49,600 --> 00:05:51,720 Speaker 4: if the government is shut down when it comes to 113 00:05:51,800 --> 00:05:53,520 Speaker 4: that specific department. 114 00:05:53,200 --> 00:05:55,120 Speaker 2: Well, all right, So then it becomes a question of 115 00:05:55,760 --> 00:05:58,080 Speaker 2: could they put together a patch? And I know that 116 00:05:58,080 --> 00:06:01,440 Speaker 2: that is something that's a bit elusive right now. Remember 117 00:06:02,400 --> 00:06:04,960 Speaker 2: for the last partial shutdown, there was a debate over 118 00:06:05,040 --> 00:06:07,680 Speaker 2: how long the continuing resolution should be. They landed on 119 00:06:07,720 --> 00:06:10,200 Speaker 2: two weeks, which clearly was not enough. Are we talking 120 00:06:10,240 --> 00:06:13,839 Speaker 2: about another two couple of months full year? 121 00:06:14,160 --> 00:06:16,560 Speaker 4: I actually asked a few lawmakers this on the hill 122 00:06:16,680 --> 00:06:18,520 Speaker 4: last week. I was up there running around towards the 123 00:06:18,600 --> 00:06:20,560 Speaker 4: end of the week, and nobody seemed to really have 124 00:06:20,600 --> 00:06:22,520 Speaker 4: an answer on how long it could take to actually 125 00:06:22,560 --> 00:06:25,120 Speaker 4: hammer out a deal. Because at this point Democrats have 126 00:06:25,160 --> 00:06:27,719 Speaker 4: put on the table a list of their ten perhaps 127 00:06:27,800 --> 00:06:31,280 Speaker 4: concrete demands that they want to see. These new requirements 128 00:06:31,320 --> 00:06:35,480 Speaker 4: for judicial warrants what has been called demasking of federal agents, 129 00:06:35,520 --> 00:06:38,200 Speaker 4: having them not wear and ask a mask during any 130 00:06:38,200 --> 00:06:41,400 Speaker 4: sort of immigration operations, and some of them, especially that 131 00:06:41,480 --> 00:06:44,480 Speaker 4: latter one, feels like a non starter for Republicans. They 132 00:06:44,480 --> 00:06:47,400 Speaker 4: feel very far apart on this issue. In fact, President 133 00:06:47,400 --> 00:06:50,560 Speaker 4: Trump himself has said that at this point they're not 134 00:06:50,600 --> 00:06:53,719 Speaker 4: negotiating on those So that leads to questions about how 135 00:06:53,839 --> 00:06:57,440 Speaker 4: long this could potentially be drawn out for maybe something 136 00:06:57,480 --> 00:06:59,799 Speaker 4: could happen. It was our understanding that over the weekend 137 00:06:59,800 --> 00:07:04,200 Speaker 4: Democrats had floated actually a more concrete proposal to Republicans. 138 00:07:04,200 --> 00:07:06,800 Speaker 4: But any indications we've gotten so far is that it 139 00:07:06,880 --> 00:07:08,480 Speaker 4: doesn't seem like they're biting. 140 00:07:08,640 --> 00:07:11,000 Speaker 2: Boy, this is a tough moment here, because they do 141 00:07:11,080 --> 00:07:14,760 Speaker 2: seem like they are far apart on some really key issues. 142 00:07:14,800 --> 00:07:15,120 Speaker 3: Here. 143 00:07:15,440 --> 00:07:17,440 Speaker 2: We could be in a world, I guess, where the 144 00:07:17,480 --> 00:07:20,800 Speaker 2: rest of the government is chugged along, but this one department, 145 00:07:22,400 --> 00:07:25,880 Speaker 2: dare I say, is on ice? Tyler, talk to me 146 00:07:25,920 --> 00:07:29,720 Speaker 2: about Jeffrey Epstein today. The President coming off the halftime 147 00:07:29,760 --> 00:07:32,320 Speaker 2: show last night, as watching all this from the sidelines, 148 00:07:33,080 --> 00:07:36,160 Speaker 2: knowing that his name, Howard Lutnik's, and other members of 149 00:07:36,160 --> 00:07:39,920 Speaker 2: the administration are named, realizing not accused of any wrongdoing. 150 00:07:40,680 --> 00:07:43,160 Speaker 2: But Keer Starmer's name is not in the files, and 151 00:07:43,200 --> 00:07:45,600 Speaker 2: he could be looking at the end of his political career. 152 00:07:45,640 --> 00:07:46,160 Speaker 3: What's happening. 153 00:07:46,280 --> 00:07:49,400 Speaker 4: No, you're outlining a really keen split screen here that 154 00:07:49,480 --> 00:07:52,480 Speaker 4: we're seeing. There has been this mounting pressure on the 155 00:07:52,600 --> 00:07:56,680 Speaker 4: United Kingdom Prime Minister here Starmer to step down after 156 00:07:56,720 --> 00:07:59,440 Speaker 4: we saw a flurry of his key aids step down 157 00:07:59,480 --> 00:08:02,400 Speaker 4: from their posts over the weekend. This has to do 158 00:08:02,640 --> 00:08:05,880 Speaker 4: with how Starmer had appointed Peter Mendelssohn to be the 159 00:08:05,960 --> 00:08:08,400 Speaker 4: UK ambassador to the US. He removed him from that 160 00:08:08,440 --> 00:08:11,640 Speaker 4: post back in September, but as we keep seeing these 161 00:08:11,720 --> 00:08:14,520 Speaker 4: tranches of files come out in recent weeks, that's really 162 00:08:14,560 --> 00:08:18,840 Speaker 4: renewed spotlight on that relationship. Now, one of Starmer's key 163 00:08:18,880 --> 00:08:22,040 Speaker 4: aides took what he said was full responsibility for recommending 164 00:08:22,080 --> 00:08:26,080 Speaker 4: Mendelssohn for that role, but there have been some prominent 165 00:08:26,200 --> 00:08:28,480 Speaker 4: members in that government that say that the man that 166 00:08:28,520 --> 00:08:32,000 Speaker 4: actually appointed him should step down. With that said, Starmer 167 00:08:32,040 --> 00:08:35,120 Speaker 4: has actually gotten a lot of support in just the 168 00:08:35,120 --> 00:08:38,600 Speaker 4: past few hours from some key cabinet members. The Chancellor 169 00:08:38,640 --> 00:08:41,760 Speaker 4: of the Exchequer, Rachel Reeves, for example, through horse support 170 00:08:41,800 --> 00:08:46,600 Speaker 4: behind him, and he's expected to convene and perhaps release 171 00:08:46,679 --> 00:08:50,199 Speaker 4: more information he suggested about how the nomination of Mendelssohn 172 00:08:50,600 --> 00:08:53,760 Speaker 4: ultimately came to be. But you're exactly right. He's not 173 00:08:53,840 --> 00:08:57,000 Speaker 4: implicated in the files at all. He didn't know Epstein, 174 00:08:57,040 --> 00:08:59,240 Speaker 4: and that is perhaps the split screen that we're seeing 175 00:08:59,559 --> 00:09:02,200 Speaker 4: as the White House faces pressure and President Trump himself 176 00:09:02,200 --> 00:09:04,439 Speaker 4: says that it is time for the US to move on. 177 00:09:04,600 --> 00:09:07,360 Speaker 3: In his words, wait, it's really something. 178 00:09:07,440 --> 00:09:09,760 Speaker 2: So the offense here is that he hired those who 179 00:09:09,760 --> 00:09:13,440 Speaker 2: were implicated in the Epstein files, which is a very 180 00:09:13,440 --> 00:09:15,720 Speaker 2: different scenario than we're dealing with here in the US. 181 00:09:16,000 --> 00:09:18,760 Speaker 2: Rocanna and Tom Massey, the D and the R, the 182 00:09:18,800 --> 00:09:21,360 Speaker 2: two members of Congress who forced the discharge petition on 183 00:09:21,400 --> 00:09:24,680 Speaker 2: releasing the files, are going to be marching over to 184 00:09:24,720 --> 00:09:28,160 Speaker 2: the DOJ today to review unredacted files. This's the first 185 00:09:28,200 --> 00:09:30,360 Speaker 2: day they are available, Tyler. They're going to be holding 186 00:09:30,360 --> 00:09:32,520 Speaker 2: a briefing later. Any sense of what we're going to. 187 00:09:32,520 --> 00:09:35,360 Speaker 4: Hear, well, at this point we'll have to see what 188 00:09:35,400 --> 00:09:38,920 Speaker 4: they ultimately are able to share and what they do learn. 189 00:09:39,000 --> 00:09:40,640 Speaker 4: I believe you were the one that actually pointed me 190 00:09:40,720 --> 00:09:42,480 Speaker 4: to the fact that Thomas Massey has been. 191 00:09:42,480 --> 00:09:43,840 Speaker 5: Crowdsourcing on XS. 192 00:09:43,960 --> 00:09:47,080 Speaker 4: If that's something white people of what specific files he 193 00:09:47,120 --> 00:09:49,960 Speaker 4: should be focused on ultimately see where it lands. They 194 00:09:50,000 --> 00:09:53,360 Speaker 4: can only make hard copies, written copies, no electronic copies 195 00:09:53,400 --> 00:09:53,640 Speaker 4: of what. 196 00:09:53,559 --> 00:09:55,719 Speaker 2: They see, not going to see screen grabs or photographs. 197 00:09:55,840 --> 00:09:58,560 Speaker 2: Really interesting here, Tyler, thank you so much. It's just 198 00:09:58,600 --> 00:10:02,160 Speaker 2: another Monday in Washington. Tyler Kendall, our Washington correspondent, getting 199 00:10:02,240 --> 00:10:05,000 Speaker 2: us rolling here on the Monday edition of Balance of Power. 200 00:10:05,120 --> 00:10:07,280 Speaker 3: Stay with us on Balance of Power. We'll have much 201 00:10:07,320 --> 00:10:08,520 Speaker 3: more coming up after this. 202 00:10:12,800 --> 00:10:16,280 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 203 00:10:16,360 --> 00:10:19,800 Speaker 1: us live weekdays at noon and five pm Eastern on Apple, 204 00:10:19,840 --> 00:10:22,880 Speaker 1: Cocklay and Android Auto with the Bloomberg Business App. You 205 00:10:22,920 --> 00:10:26,400 Speaker 1: can also listen live on Amazon Alexa from our flagship 206 00:10:26,440 --> 00:10:30,360 Speaker 1: New York station Just Say Alexa played Bloomberg eleven thirty, 207 00:10:31,840 --> 00:10:32,360 Speaker 1: a lot. 208 00:10:32,160 --> 00:10:34,839 Speaker 2: Of TV for a lot of folks freezing outside. You 209 00:10:34,920 --> 00:10:38,480 Speaker 2: hunker down on a Super Bowl weekend, and we saw 210 00:10:38,520 --> 00:10:41,120 Speaker 2: more ads than we can remember this morning. Interesting though, 211 00:10:41,120 --> 00:10:44,679 Speaker 2: what the ads told us right about American culture. It 212 00:10:44,760 --> 00:10:50,080 Speaker 2: was all AI gambling and GLP one, that right, And 213 00:10:50,120 --> 00:10:51,959 Speaker 2: maybe did you even see a beer at I think 214 00:10:52,000 --> 00:10:54,600 Speaker 2: maybe there was one in there. Nobody drinks beer anymore 215 00:10:54,720 --> 00:10:58,640 Speaker 2: because of GLP one. Then, of course we had the 216 00:10:58,840 --> 00:11:02,520 Speaker 2: halftime show and the standoff that was created for some 217 00:11:02,559 --> 00:11:07,960 Speaker 2: reason between Bad Bunny and Kid Rock. There were others 218 00:11:08,000 --> 00:11:10,560 Speaker 2: who were playing at the Turning Point USA thing, but 219 00:11:10,720 --> 00:11:14,000 Speaker 2: they had a lot of trouble with the lip sync 220 00:11:14,040 --> 00:11:17,600 Speaker 2: in there. For Kid Rock, they had pyrotechnics. He had 221 00:11:17,640 --> 00:11:20,640 Speaker 2: the denim shorts on. Maybe it was a monitor thing, 222 00:11:20,720 --> 00:11:23,840 Speaker 2: but he was really far off the lier. Anyway, they 223 00:11:23,840 --> 00:11:26,000 Speaker 2: were supposed to be on Twitter. That didn't work out, 224 00:11:26,040 --> 00:11:28,160 Speaker 2: so you had to get on YouTube. It was difficult 225 00:11:28,200 --> 00:11:33,120 Speaker 2: to see even with that six million people turned away 226 00:11:33,200 --> 00:11:37,559 Speaker 2: from the television broadcast and onto YouTube to watch Turning 227 00:11:37,559 --> 00:11:38,960 Speaker 2: Point Usay, not bad. 228 00:11:39,120 --> 00:11:41,920 Speaker 3: The weird part is mar A Lago was not among them. 229 00:11:41,960 --> 00:11:44,080 Speaker 2: If you look at the videos of the Big Ballroom, 230 00:11:44,480 --> 00:11:47,440 Speaker 2: you see Lindsey Graham and others looking up. There's Bad 231 00:11:47,480 --> 00:11:52,480 Speaker 2: Bunny with the grass on the field. So I guess 232 00:11:52,480 --> 00:11:54,000 Speaker 2: they did have a chance to see it. And that 233 00:11:54,040 --> 00:11:56,760 Speaker 2: explains why the President was posting about it last night. 234 00:11:57,840 --> 00:12:01,880 Speaker 2: The Super Bowl halftime show is absolutely terrible, he says, 235 00:12:01,960 --> 00:12:04,800 Speaker 2: one of the worst ever. Now this is written in 236 00:12:04,880 --> 00:12:07,760 Speaker 2: present tense. He posted it after it was done. It 237 00:12:07,800 --> 00:12:10,360 Speaker 2: makes no sense. Is an affront of the greatness of 238 00:12:10,360 --> 00:12:13,240 Speaker 2: America and does not represent our standards of success, creativity, 239 00:12:13,280 --> 00:12:16,960 Speaker 2: or excellence. This is a pretty long post. Nobody understands 240 00:12:16,960 --> 00:12:19,160 Speaker 2: a word this guy is saying, he writes, and the 241 00:12:19,240 --> 00:12:22,320 Speaker 2: dancing is disgusting, especially for young children watching from throughout 242 00:12:22,360 --> 00:12:24,160 Speaker 2: the USA and all over the world. The show is 243 00:12:24,200 --> 00:12:26,240 Speaker 2: a slap in the face to our country, which is 244 00:12:26,280 --> 00:12:31,240 Speaker 2: setting new standards and records every single day. That I mentioned, well, 245 00:12:31,240 --> 00:12:34,200 Speaker 2: it's interesting because there was no politics in this. I 246 00:12:34,200 --> 00:12:36,640 Speaker 2: guess he didn't like the dirty dancing, but actually there 247 00:12:36,720 --> 00:12:38,920 Speaker 2: was no mention of ice out or anything like that. 248 00:12:38,960 --> 00:12:41,160 Speaker 2: It was actually a message of inclusivity at the end 249 00:12:41,160 --> 00:12:46,760 Speaker 2: with the football and maybe you saw it the microcosm 250 00:12:47,960 --> 00:12:52,120 Speaker 2: of American politics and culture, remembering that it was right 251 00:12:52,360 --> 00:12:57,680 Speaker 2: young male Latino voters and to a smaller degree, young 252 00:12:57,720 --> 00:13:00,760 Speaker 2: black voters who delivered the Donald Trump back to the 253 00:13:00,760 --> 00:13:03,440 Speaker 2: White House on top of the usual base. That was 254 00:13:04,280 --> 00:13:08,280 Speaker 2: the demographic that broke Trump. And so there are questions 255 00:13:08,280 --> 00:13:12,559 Speaker 2: now about whether we're watching that evolve before our eyes, 256 00:13:12,720 --> 00:13:14,960 Speaker 2: and we assemble our political panel for their take on 257 00:13:15,080 --> 00:13:18,160 Speaker 2: all of this. You gotta love a dissecting a halftime 258 00:13:18,200 --> 00:13:21,520 Speaker 2: show with Rick and Jeanie Bloomberg Politics contributors Rick Davis 259 00:13:21,559 --> 00:13:24,400 Speaker 2: Genie Shanze no Rick is our Republican strategist and partner 260 00:13:24,400 --> 00:13:28,000 Speaker 2: at stone Court Capital, and Genie is our Democratic analyst 261 00:13:28,080 --> 00:13:31,960 Speaker 2: democracy visiting fellow at Harvard Kennedy School's Ash Center. Genie, 262 00:13:32,240 --> 00:13:35,960 Speaker 2: were you encouraged by the fact that Bad Bunny didn't 263 00:13:36,000 --> 00:13:38,880 Speaker 2: get political or terribly controversial last night? 264 00:13:40,480 --> 00:13:42,160 Speaker 6: Yeah, Joe, I have to say it was not a 265 00:13:42,200 --> 00:13:46,480 Speaker 6: great night for my children, who are both big Patriots fans, 266 00:13:46,559 --> 00:13:49,880 Speaker 6: so you know, it was a pretty ugly night, you know, 267 00:13:50,040 --> 00:13:53,440 Speaker 6: being from Massachusetts, I'm from Connecticut, they're big fans, so 268 00:13:53,760 --> 00:13:58,079 Speaker 6: it was ugly that way. You know Bad Bunny's performance. 269 00:13:58,480 --> 00:14:02,160 Speaker 6: I don't follow Bad Bunny. I don't know his music. 270 00:14:02,200 --> 00:14:05,280 Speaker 6: I'm probably like Lindsey Graham, not his target audience. 271 00:14:06,120 --> 00:14:08,080 Speaker 7: But he is the number one. 272 00:14:07,760 --> 00:14:10,920 Speaker 6: Streamed artist in the world, and boy he delivered. 273 00:14:10,960 --> 00:14:12,800 Speaker 7: As a fan of musical theater. 274 00:14:13,000 --> 00:14:16,560 Speaker 6: It felt a lot like watching a musical go off, 275 00:14:17,040 --> 00:14:20,280 Speaker 6: and the messaging was absolutely beautiful. 276 00:14:20,320 --> 00:14:22,560 Speaker 7: It was heartwarming. There was a live wedding. 277 00:14:22,920 --> 00:14:26,160 Speaker 6: He gave his Grammy Award to an adorable five year 278 00:14:26,240 --> 00:14:29,320 Speaker 6: old little boy. He's sang his heart out, and you know, 279 00:14:29,400 --> 00:14:31,920 Speaker 6: Donald Trump's got to go back and look at his statistics. 280 00:14:31,960 --> 00:14:36,960 Speaker 6: About forty to sixty million Americans speak Spanish, including almost 281 00:14:37,040 --> 00:14:39,960 Speaker 6: everybody that lives in Puerto Rico, who are all Americans. 282 00:14:40,000 --> 00:14:42,560 Speaker 6: So while he may not have good high school Spanish 283 00:14:42,600 --> 00:14:45,680 Speaker 6: to understand what was being sung, many millions of people 284 00:14:45,720 --> 00:14:47,920 Speaker 6: in the United States and around the world did. And 285 00:14:47,960 --> 00:14:51,960 Speaker 6: it was an absolutely upbeat and unifying performance where he 286 00:14:52,080 --> 00:14:55,880 Speaker 6: echoed what was said at the funeral that Donald Trump 287 00:14:56,000 --> 00:15:00,280 Speaker 6: talked so much about with Erica Kirk, where they talked about, 288 00:15:00,320 --> 00:15:04,720 Speaker 6: you know, the only thing that can overcome hate is love, 289 00:15:04,760 --> 00:15:07,240 Speaker 6: and that was absolutely the message that Bad Bunny was 290 00:15:07,280 --> 00:15:08,080 Speaker 6: sending last night. 291 00:15:09,120 --> 00:15:13,880 Speaker 2: Political compiled reactions from a number of Republicans and from 292 00:15:13,920 --> 00:15:17,520 Speaker 2: within the magisphere. In many cases, Harrison Fields left the 293 00:15:17,520 --> 00:15:21,680 Speaker 2: White House recently, former press aide to President Trump. Last 294 00:15:21,680 --> 00:15:25,680 Speaker 2: time I checked, he wrote on X my Puerto Rico 295 00:15:25,760 --> 00:15:28,520 Speaker 2: born grandmother was a full American citizen and she voted 296 00:15:28,520 --> 00:15:32,560 Speaker 2: for Trump. Former Trump campaign official Vianca Rodriguez is she 297 00:15:32,640 --> 00:15:36,240 Speaker 2: loved the show and attacked Magafans for complaining, way to 298 00:15:36,280 --> 00:15:39,000 Speaker 2: go alienating your Puerto Rican conservative base. 299 00:15:39,200 --> 00:15:43,000 Speaker 3: She wrote, is any of this going to matter? 300 00:15:43,040 --> 00:15:47,680 Speaker 2: In November Rick or is this very important for Republicans 301 00:15:47,680 --> 00:15:48,480 Speaker 2: to pay attention to. 302 00:15:50,440 --> 00:15:53,320 Speaker 8: I don't think it's that important to November. I think 303 00:15:53,320 --> 00:15:55,800 Speaker 8: this is one of those things that kind of drives 304 00:15:55,840 --> 00:15:56,880 Speaker 8: eyeballs for today. 305 00:15:56,920 --> 00:15:58,800 Speaker 3: We probably won't be talking about it tomorrow. 306 00:15:59,320 --> 00:16:01,920 Speaker 8: The fact that the Resident invested so much of his 307 00:16:02,040 --> 00:16:05,800 Speaker 8: time and effort talking about it in advance, complaining about it, 308 00:16:05,840 --> 00:16:10,160 Speaker 8: and then attacking it after the fact, it probably was 309 00:16:10,160 --> 00:16:12,960 Speaker 8: more of a base issue. I don't think anybody else 310 00:16:12,960 --> 00:16:15,840 Speaker 8: would be interested in this. I doubt if there were 311 00:16:15,920 --> 00:16:20,680 Speaker 8: very many swing independence watching the Turning Point program. Out 312 00:16:20,680 --> 00:16:23,680 Speaker 8: of that six million, let me see the trade one 313 00:16:23,760 --> 00:16:26,000 Speaker 8: hundred and twenty million for six million, which one would 314 00:16:26,000 --> 00:16:31,280 Speaker 8: you take? So yeah, I think this is an issue 315 00:16:31,320 --> 00:16:34,600 Speaker 8: that I think is symbolic, right, and when you use 316 00:16:34,640 --> 00:16:36,920 Speaker 8: the bully pulpit of the White House, of the of 317 00:16:36,960 --> 00:16:40,720 Speaker 8: the Oval Office to set a standard, and that standard 318 00:16:40,920 --> 00:16:44,560 Speaker 8: is you know that we're not going to entertain entertainment 319 00:16:45,280 --> 00:16:49,560 Speaker 8: in Spanish, we're not going to entertain excellence in performance, 320 00:16:50,640 --> 00:16:52,240 Speaker 8: and we're going to politicize it. 321 00:16:52,680 --> 00:16:54,440 Speaker 5: Actually is the opposite of what Donald. 322 00:16:54,200 --> 00:16:57,360 Speaker 8: Trump said in his statement, you know, which is he 323 00:16:57,480 --> 00:17:02,280 Speaker 8: wants you know, creativity and excellence, and I think Bad 324 00:17:02,280 --> 00:17:05,480 Speaker 8: Bunny like Genie, I'm not you know, I can't claim 325 00:17:05,480 --> 00:17:08,639 Speaker 8: I'm a bad Bunny fan, but you've got to admit 326 00:17:08,720 --> 00:17:13,200 Speaker 8: that he's been wildly successful, incredibly creative, and he has. 327 00:17:13,320 --> 00:17:14,560 Speaker 3: Created a level of excellence. 328 00:17:14,640 --> 00:17:17,800 Speaker 8: So he meets Donald Trump standards for what a halftime 329 00:17:17,840 --> 00:17:22,199 Speaker 8: show is personally Alabama football. You know what, if you 330 00:17:22,200 --> 00:17:25,359 Speaker 8: get the marching band out there, you'd make me perfectly happy. 331 00:17:26,760 --> 00:17:27,560 Speaker 3: Yeah, I've said that. 332 00:17:27,720 --> 00:17:30,399 Speaker 2: I got a lot of criticism last Thana, but there 333 00:17:30,480 --> 00:17:31,240 Speaker 2: is something to be. 334 00:17:31,240 --> 00:17:34,600 Speaker 3: Said for the big Brass band, Rick Davis. 335 00:17:35,359 --> 00:17:37,640 Speaker 2: If you were watching Jeanie at the very end there 336 00:17:37,640 --> 00:17:40,439 Speaker 2: and it's all over social media, Bad Bunny holds up 337 00:17:40,520 --> 00:17:44,400 Speaker 2: football and imprinted on the ball it says together we 338 00:17:44,440 --> 00:17:48,240 Speaker 2: are America. Then he said in Spanish, we're still here. 339 00:17:49,920 --> 00:17:52,639 Speaker 2: So is he going to be on the campaign trail 340 00:17:53,840 --> 00:17:55,680 Speaker 2: at some point between now and November? 341 00:17:57,480 --> 00:18:00,000 Speaker 7: You know, I don't think so, but who knows. 342 00:18:00,240 --> 00:18:03,920 Speaker 6: Joe Matthew, he has never been shy about his politics, 343 00:18:04,680 --> 00:18:07,560 Speaker 6: and last night there were some infused in there, but 344 00:18:08,080 --> 00:18:11,040 Speaker 6: you know, just watching and listening to it and with 345 00:18:11,160 --> 00:18:16,119 Speaker 6: the flags. You mentioned the unification message, particularly as it 346 00:18:16,200 --> 00:18:21,720 Speaker 6: pertains to the Americas is something that aligns very much 347 00:18:21,880 --> 00:18:26,120 Speaker 6: with what the Trump administration says or portrays as their 348 00:18:26,160 --> 00:18:31,440 Speaker 6: approach to foreign policy and the unification of the hemisphere. 349 00:18:32,119 --> 00:18:35,560 Speaker 6: So it is astonishing that he looked at it and 350 00:18:35,600 --> 00:18:37,880 Speaker 6: then posted what he did. But of course I had 351 00:18:37,880 --> 00:18:40,960 Speaker 6: a sense that he perhaps brot that in his mind 352 00:18:41,000 --> 00:18:43,480 Speaker 6: and then posted it before he even saw the show. 353 00:18:43,560 --> 00:18:44,200 Speaker 7: But who knows. 354 00:18:45,200 --> 00:18:49,560 Speaker 6: But absolutely, Bad Bunny is somebody who speaks to a 355 00:18:49,760 --> 00:18:53,000 Speaker 6: large contingent of people in the United States and around 356 00:18:53,080 --> 00:18:57,080 Speaker 6: the world who embraced his messaging, And what he talked 357 00:18:57,080 --> 00:19:02,440 Speaker 6: about last night was nothing controversial. It was a wonderful performance, 358 00:19:02,760 --> 00:19:05,240 Speaker 6: and so I don't think it is going to work 359 00:19:05,280 --> 00:19:08,640 Speaker 6: to Trump's advantage. In fact, I think he disadvantages himself 360 00:19:08,960 --> 00:19:12,000 Speaker 6: with posting this kind of stuff. If anybody is being 361 00:19:12,040 --> 00:19:14,840 Speaker 6: on American, it is the kind of things he has 362 00:19:14,920 --> 00:19:19,760 Speaker 6: said about poisoning the blood of our country, criticizing immigrants 363 00:19:19,760 --> 00:19:22,840 Speaker 6: for coming here speaking other languages that nobody has ever 364 00:19:22,920 --> 00:19:25,639 Speaker 6: heard of, which is a horrible thing. This is the 365 00:19:25,760 --> 00:19:28,080 Speaker 6: kind of thing that is indeed truly un American. 366 00:19:29,560 --> 00:19:32,320 Speaker 2: Rick, what'd you make of the fact that the Bad 367 00:19:32,400 --> 00:19:35,800 Speaker 2: Bunny halftime show was on at mar A Lago. There's 368 00:19:35,920 --> 00:19:38,800 Speaker 2: video everywhere from the ballroom last night. You see Lindsey Graham, 369 00:19:38,880 --> 00:19:41,239 Speaker 2: the President, looking up at the big show on this 370 00:19:41,359 --> 00:19:44,439 Speaker 2: jumbo screen. Kid Rock. I don't know if they had 371 00:19:44,480 --> 00:19:46,439 Speaker 2: him on in another room, but it wasn't where the 372 00:19:46,480 --> 00:19:50,040 Speaker 2: people were. Does that tell us all we need to know? 373 00:19:51,359 --> 00:19:53,760 Speaker 8: Well, it probably indicates that they need to update their 374 00:19:53,880 --> 00:19:56,600 Speaker 8: tach with some Roku TV so they can actually get 375 00:19:56,640 --> 00:19:58,080 Speaker 8: YouTube TV at. 376 00:19:57,920 --> 00:20:01,119 Speaker 3: Mar A Lago. That was my when I saw it. 377 00:20:01,160 --> 00:20:04,320 Speaker 8: Is their their standard cable isn't going to get them there. 378 00:20:05,080 --> 00:20:08,880 Speaker 3: So yeah, I think it's maken a lot to do. 379 00:20:08,960 --> 00:20:11,240 Speaker 8: But like look, Donald Trump was going to attack it, 380 00:20:11,280 --> 00:20:12,800 Speaker 8: so we had to watch it so he could say 381 00:20:12,840 --> 00:20:16,280 Speaker 8: I watched it and I was a gaff. The only 382 00:20:16,320 --> 00:20:18,520 Speaker 8: thing that would have allowed this to be a big 383 00:20:18,560 --> 00:20:21,320 Speaker 8: deal is if Donald Trump himself had actually attended the 384 00:20:21,480 --> 00:20:24,280 Speaker 8: Turning Point event. That would have been more interest and 385 00:20:24,480 --> 00:20:27,080 Speaker 8: more on brand for him. So the fact that he 386 00:20:27,119 --> 00:20:29,240 Speaker 8: didn't do that roboly doesn't mean much. 387 00:20:30,240 --> 00:20:33,199 Speaker 2: A lot of ads in this game, of course that 388 00:20:33,240 --> 00:20:35,440 Speaker 2: people are talking about Genie, and that's part of the fund. 389 00:20:35,520 --> 00:20:41,200 Speaker 2: You see Mike Tyson speaking from Maha and RFK Junior 390 00:20:41,600 --> 00:20:44,280 Speaker 2: were the most powerful country in the world and we 391 00:20:44,400 --> 00:20:48,000 Speaker 2: have the most fudgy people. I saw a picture of 392 00:20:48,119 --> 00:20:51,119 Speaker 2: RFK with the face tattoo that they tweeted out as well. 393 00:20:52,160 --> 00:20:55,399 Speaker 2: What do we make of the politics in this game, 394 00:20:55,800 --> 00:20:57,240 Speaker 2: especially from this administration. 395 00:20:59,080 --> 00:21:01,800 Speaker 6: Yeah, it's it's been infused throughout And I was trying 396 00:21:01,840 --> 00:21:04,960 Speaker 6: to think back, Joe, it feels like post nine to eleven, 397 00:21:05,480 --> 00:21:08,600 Speaker 6: when they started with you two and then when we 398 00:21:08,720 --> 00:21:13,280 Speaker 6: had the wardrobe malfunction with Janet Jackson. It seems from 399 00:21:13,359 --> 00:21:15,440 Speaker 6: then on this is what we've been getting with both 400 00:21:15,440 --> 00:21:19,000 Speaker 6: the halftime show and increasingly with ads. You know, somebody 401 00:21:19,040 --> 00:21:22,240 Speaker 6: reminded me that there wasn't that long ago when more 402 00:21:22,320 --> 00:21:25,040 Speaker 6: men were watching football than women. That a lot of 403 00:21:25,080 --> 00:21:28,359 Speaker 6: the ads were very different than mercying today, so. 404 00:21:28,680 --> 00:21:30,920 Speaker 7: Things have changed. A lot of them are infused. 405 00:21:30,920 --> 00:21:33,560 Speaker 6: But Joe, my favorite ad was the one with Neil 406 00:21:33,640 --> 00:21:36,200 Speaker 6: Diamond's song because Andy. 407 00:21:35,960 --> 00:21:38,560 Speaker 7: Samberg's Peek Caroline. I'm sorry. 408 00:21:38,640 --> 00:21:40,639 Speaker 6: I know I'm supposed to be talking politics, but you 409 00:21:40,720 --> 00:21:42,280 Speaker 6: can't get better than Neil Diamond. 410 00:21:42,400 --> 00:21:45,399 Speaker 7: So that was my favorite. And yeah, Mike Tyson, I 411 00:21:45,440 --> 00:21:48,600 Speaker 7: can do without RFK Junior. On Super Bowl. 412 00:21:48,520 --> 00:21:52,560 Speaker 3: Night, there's a Wall Street Journal story. 413 00:21:53,760 --> 00:21:56,359 Speaker 2: That says the food industry is not happy about this ad, 414 00:21:56,359 --> 00:21:58,919 Speaker 2: by the way, which was paid for by the MAHA Center, 415 00:22:00,080 --> 00:22:03,920 Speaker 2: the Consumer Brands Association, which represents the big food snack companies. 416 00:22:03,920 --> 00:22:06,400 Speaker 2: We're disappointed to see this kind of rhetoric on such 417 00:22:06,440 --> 00:22:14,040 Speaker 2: an important topic, seeding fear and misinformation. A interesting reaction here, 418 00:22:14,560 --> 00:22:17,480 Speaker 2: Rick Davis, you mentioned it one hundred and twenty million people. 419 00:22:17,560 --> 00:22:21,160 Speaker 2: Is this the right venue for that kind of political message. 420 00:22:22,400 --> 00:22:25,720 Speaker 8: Well, everybody had a political message some way in form 421 00:22:25,800 --> 00:22:28,159 Speaker 8: in the past, you know, with these ads. But I 422 00:22:28,200 --> 00:22:31,200 Speaker 8: got to tell you, MAHA, they really get the award 423 00:22:31,280 --> 00:22:34,000 Speaker 8: for being like totally out out of sink on this. 424 00:22:34,359 --> 00:22:37,439 Speaker 8: They have Mike Tyson in an ad in the Super 425 00:22:37,440 --> 00:22:40,959 Speaker 8: Bowl talking about wanting to eat real food. Last I 426 00:22:41,040 --> 00:22:44,040 Speaker 8: heard he ate Evander Hollifield's ear. 427 00:22:44,280 --> 00:22:45,560 Speaker 5: Do we want to talk about that? 428 00:22:46,119 --> 00:22:50,080 Speaker 8: I'm sorry, I have to nineteen ninety seven big bite 429 00:22:50,240 --> 00:22:51,120 Speaker 8: right out of that ear? 430 00:22:51,320 --> 00:22:52,320 Speaker 5: Does he consider that? 431 00:22:52,720 --> 00:22:53,120 Speaker 8: Maha? 432 00:22:53,160 --> 00:22:53,480 Speaker 3: Graid? 433 00:22:54,640 --> 00:22:56,639 Speaker 2: You know, we're all trying to get more protein in 434 00:22:56,680 --> 00:22:59,240 Speaker 2: our diets here. It's a GLP one world that we're 435 00:22:59,280 --> 00:23:01,320 Speaker 2: living in. I guess this as well. We better shut 436 00:23:01,359 --> 00:23:04,320 Speaker 2: this down before we go any further. I'm so glad 437 00:23:04,400 --> 00:23:06,480 Speaker 2: Rick and Jenie are with us this day after the 438 00:23:06,560 --> 00:23:07,560 Speaker 2: Mighty Super Bowl. 439 00:23:07,720 --> 00:23:09,880 Speaker 3: Stay with us on Balance of Power. We'll have much 440 00:23:09,920 --> 00:23:11,080 Speaker 3: more coming up after this. 441 00:23:16,520 --> 00:23:20,000 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 442 00:23:20,040 --> 00:23:23,960 Speaker 1: us live weekdays at noon and five pm Eastern on Almacarchlay, 443 00:23:24,000 --> 00:23:27,040 Speaker 1: and Android Auto with the Bloomberg Business App. Listen on 444 00:23:27,119 --> 00:23:30,359 Speaker 1: demand wherever you get your podcasts, or watch us live 445 00:23:30,440 --> 00:23:31,880 Speaker 1: on YouTube. 446 00:23:32,720 --> 00:23:34,920 Speaker 2: We take a deeper look under the hood just to 447 00:23:34,920 --> 00:23:38,080 Speaker 2: see exactly what's happening with quite a nice rebound in 448 00:23:38,160 --> 00:23:41,480 Speaker 2: tech following this severe selling that we saw last week, 449 00:23:42,040 --> 00:23:44,800 Speaker 2: culminating with this massive rally on Friday, and a lot 450 00:23:44,840 --> 00:23:46,560 Speaker 2: of questions over the weekend about what was going to 451 00:23:46,560 --> 00:23:50,040 Speaker 2: happen today. Nora is our markets correspondent live from World 452 00:23:50,040 --> 00:23:53,800 Speaker 2: headquarters in New York. It's like it never happened, almost, Nora. 453 00:23:54,040 --> 00:23:57,399 Speaker 2: Although I see the Nasdaq composite is still below the fifty, 454 00:23:57,520 --> 00:23:58,440 Speaker 2: we're charging. 455 00:23:58,200 --> 00:24:00,800 Speaker 5: Higher, Yeah, charging higher. 456 00:24:00,840 --> 00:24:03,600 Speaker 9: We're seeing the Nasdaq one hundred bouncing for a second 457 00:24:03,640 --> 00:24:07,160 Speaker 9: straight session. You're really seeing a reversal from what people 458 00:24:07,160 --> 00:24:09,639 Speaker 9: were doing last week, where we saw it was a 459 00:24:09,640 --> 00:24:12,080 Speaker 9: bit chaotic, it was a bit volatile. When we think 460 00:24:12,080 --> 00:24:13,960 Speaker 9: about all of the outflows that we saw from a 461 00:24:13,960 --> 00:24:16,760 Speaker 9: lot of those software stocks, I'm keeping an eye on 462 00:24:16,960 --> 00:24:22,000 Speaker 9: app Love in Pallenteer, Microsoft, all of these stocks charging higher. Essentially, 463 00:24:22,000 --> 00:24:24,639 Speaker 9: you're seeing people in the market out here. They're trying 464 00:24:24,640 --> 00:24:27,120 Speaker 9: to not only focus on the software stocks, but really 465 00:24:27,160 --> 00:24:29,679 Speaker 9: broadening out a lot of those gains. And when you 466 00:24:29,720 --> 00:24:31,760 Speaker 9: see gains in Microsoft, which we know tends to be 467 00:24:31,800 --> 00:24:34,439 Speaker 9: a bell weather in the space, it really shows you 468 00:24:34,520 --> 00:24:37,440 Speaker 9: that it's not just isolated to some of these smaller, 469 00:24:37,480 --> 00:24:40,879 Speaker 9: you know, the software names. It's really Microsoft pushing a 470 00:24:40,920 --> 00:24:43,880 Speaker 9: lot of these other names higher as well. So really 471 00:24:43,880 --> 00:24:46,120 Speaker 9: seeing a broad based rally as that pertains to tech 472 00:24:46,240 --> 00:24:48,720 Speaker 9: definitely a different story than what we saw most of 473 00:24:48,800 --> 00:24:49,600 Speaker 9: that last week. 474 00:24:50,520 --> 00:24:53,160 Speaker 2: Yeah, even Salesforce is catching the bid here, Nora, are 475 00:24:53,160 --> 00:24:55,400 Speaker 2: the analysts talking because I mean, it's not like we're 476 00:24:56,240 --> 00:24:58,879 Speaker 2: moving on earnings on a Monday here. Is this just 477 00:24:58,920 --> 00:25:01,040 Speaker 2: some bottom fishing that's going on after last week? 478 00:25:01,119 --> 00:25:02,919 Speaker 9: Yeah, from a lot of my sources, you're telling me 479 00:25:02,960 --> 00:25:05,000 Speaker 9: that people are buying the dip. They're really looking for 480 00:25:05,119 --> 00:25:08,760 Speaker 9: any areas where they can avoid risk and really just 481 00:25:08,800 --> 00:25:11,840 Speaker 9: trying to assess the landscape to see where opportunities lie. 482 00:25:11,880 --> 00:25:14,280 Speaker 9: But I mean you do have some people still a 483 00:25:14,320 --> 00:25:16,600 Speaker 9: bit split. I mean, we did see that Microsoft was 484 00:25:16,640 --> 00:25:19,159 Speaker 9: hit with its second downgrade in less than a week, 485 00:25:19,359 --> 00:25:21,000 Speaker 9: that coming from Melia's research. 486 00:25:21,080 --> 00:25:22,760 Speaker 5: So even as though there still. 487 00:25:22,600 --> 00:25:26,119 Speaker 9: Maintains and continues to be AI optimism on a broader scale, 488 00:25:26,200 --> 00:25:30,000 Speaker 9: you are still seeing people punching holes in the idea 489 00:25:30,119 --> 00:25:33,359 Speaker 9: of an optimistic forward looking event. 490 00:25:34,760 --> 00:25:37,520 Speaker 3: There's always somebody here to punch holes and things, Nora. 491 00:25:38,280 --> 00:25:42,080 Speaker 2: But bitcoins back above seventy thousand, so there does seem 492 00:25:42,119 --> 00:25:47,240 Speaker 2: to just be a broader sentiment here to move things 493 00:25:47,320 --> 00:25:49,920 Speaker 2: higher following last week? Do we think that this was 494 00:25:50,000 --> 00:25:51,240 Speaker 2: the big wash out? 495 00:25:51,600 --> 00:25:53,880 Speaker 9: I mean, you did see last week where we saw 496 00:25:54,080 --> 00:25:57,440 Speaker 9: bitcoin really falling for some historic lows, and you're really 497 00:25:57,520 --> 00:25:59,639 Speaker 9: seeing it trying to recoup a lot of its losses 498 00:25:59,640 --> 00:26:02,400 Speaker 9: as you make now, hanging around that seventy thousand handle. 499 00:26:02,680 --> 00:26:06,200 Speaker 9: But when we think about bitcoin more broadly, it's really speculative. 500 00:26:06,240 --> 00:26:07,159 Speaker 5: So the fact that you're. 501 00:26:07,040 --> 00:26:11,760 Speaker 9: Seeing it alongside tech rallying today, it really just shows 502 00:26:11,800 --> 00:26:14,040 Speaker 9: you that traders are out in the market and they're 503 00:26:14,080 --> 00:26:17,240 Speaker 9: really looking for opportunities and a way that they maybe 504 00:26:17,400 --> 00:26:20,359 Speaker 9: we're a little bit apprehensive about just last week. 505 00:26:21,400 --> 00:26:23,159 Speaker 2: We're through the bulk of the high tech earnings, right, 506 00:26:23,160 --> 00:26:27,040 Speaker 2: I said, McDonald's, Coke, Cisco, DraftKings this week. Anything have 507 00:26:27,119 --> 00:26:29,320 Speaker 2: your attention or we through the bumpy stuff. 508 00:26:29,600 --> 00:26:31,399 Speaker 9: Yeah, I mean we saw a lot of bumpy stuff, 509 00:26:31,400 --> 00:26:33,320 Speaker 9: that's for sure. But I mean, looking ahead, I've just 510 00:26:33,359 --> 00:26:35,119 Speaker 9: really got my eyes on a lot of the different 511 00:26:35,119 --> 00:26:38,040 Speaker 9: companies that are going to be reporting. You mentioned McDonald's. 512 00:26:38,080 --> 00:26:39,960 Speaker 9: I mean, so when we're thinking about the consumer, it's 513 00:26:39,960 --> 00:26:42,119 Speaker 9: going to be really interesting to get a read on 514 00:26:42,200 --> 00:26:45,280 Speaker 9: how the consumer is doing in terms of affordability. And 515 00:26:45,320 --> 00:26:47,440 Speaker 9: speaking of the consumer, we're also going to be getting 516 00:26:47,440 --> 00:26:49,000 Speaker 9: a lot of data out this week. We're going to 517 00:26:49,160 --> 00:26:52,400 Speaker 9: get that jobs report finally coming through on Wednesday. We're 518 00:26:52,400 --> 00:26:55,320 Speaker 9: going to get CPI a read on inflation as well 519 00:26:55,520 --> 00:26:58,040 Speaker 9: retail sales. So there's a lot to digest this week 520 00:26:58,280 --> 00:27:00,280 Speaker 9: in addition to the earnings that still contain you to 521 00:27:00,280 --> 00:27:00,960 Speaker 9: come through. Joe. 522 00:27:01,440 --> 00:27:04,360 Speaker 2: Yeah, all right, let's keep talking about it. Nora, thank 523 00:27:04,359 --> 00:27:06,520 Speaker 2: you so much. Noram me Linda live in New York. 524 00:27:07,000 --> 00:27:09,359 Speaker 2: As we watch the markets get closer to where they 525 00:27:09,400 --> 00:27:11,879 Speaker 2: were before last week's sell off, we're almost there on 526 00:27:11,920 --> 00:27:14,840 Speaker 2: the Nasdaq of one percent, up two hundred and thirty 527 00:27:14,880 --> 00:27:17,040 Speaker 2: four points twenty three two sixty four, and the S 528 00:27:17,080 --> 00:27:18,879 Speaker 2: and P five hundred is up about a half percent 529 00:27:19,000 --> 00:27:22,280 Speaker 2: right now sixty nine seventy. Thanks for being with us 530 00:27:22,320 --> 00:27:24,960 Speaker 2: here on balance of power as we turn back to Washington, 531 00:27:25,040 --> 00:27:29,440 Speaker 2: the prospect of a DHS shutdown, and of course which 532 00:27:29,480 --> 00:27:32,600 Speaker 2: halftime show you watched last night. Nothing has changed, well 533 00:27:32,640 --> 00:27:35,800 Speaker 2: maybe that last bar, but nothing really has changed in 534 00:27:35,840 --> 00:27:38,720 Speaker 2: the story since the last time we spoke with Patrick McHenry. 535 00:27:38,720 --> 00:27:41,159 Speaker 3: And that doesn't mean he isn't hearing things that I'm not. 536 00:27:41,600 --> 00:27:45,440 Speaker 2: Bloomberg Politics contributor, former Republican Congressman, former Speaker pro ten 537 00:27:45,520 --> 00:27:48,040 Speaker 2: with us here in studio, former Chair of the House 538 00:27:48,040 --> 00:27:51,879 Speaker 2: Financial Services Committee. Great to see you, sir, always you've 539 00:27:52,280 --> 00:27:54,320 Speaker 2: improved all of our Sunday morning. I want to just 540 00:27:54,359 --> 00:27:55,960 Speaker 2: let you know, and it's nice to see you back here. 541 00:27:56,040 --> 00:28:00,080 Speaker 2: So let's park the halftime show for a minute. This 542 00:28:00,119 --> 00:28:01,879 Speaker 2: is gonna be no deal this week, is there no? 543 00:28:02,880 --> 00:28:07,439 Speaker 10: Look, when we had this agreement for the Senate for 544 00:28:07,480 --> 00:28:10,680 Speaker 10: a two week continued resolution for Department of Homeland Security, 545 00:28:10,800 --> 00:28:13,440 Speaker 10: we talked about it here. There is obviously a deal 546 00:28:13,680 --> 00:28:16,800 Speaker 10: that you had in form in order to have such 547 00:28:16,800 --> 00:28:19,880 Speaker 10: a tight timeline for action on the next corporations bill. 548 00:28:20,119 --> 00:28:22,199 Speaker 10: It takes three or four days the Senate for the 549 00:28:22,200 --> 00:28:25,800 Speaker 10: Senate to do anything, and that is if you have agreement, 550 00:28:25,880 --> 00:28:29,880 Speaker 10: and if there's disagreement, takes longer. So I thought then 551 00:28:30,000 --> 00:28:32,440 Speaker 10: that there was a deal that we did not yet see. 552 00:28:33,040 --> 00:28:35,360 Speaker 10: But it's evident at the end of last week that 553 00:28:35,480 --> 00:28:39,080 Speaker 10: there was no deal coming into this week. They would 554 00:28:39,120 --> 00:28:41,400 Speaker 10: have to have an agreement within the next forty eight 555 00:28:41,440 --> 00:28:45,600 Speaker 10: hours in the Senate for some real deal to actually 556 00:28:45,640 --> 00:28:47,280 Speaker 10: be passed in a law in time to keep a 557 00:28:47,320 --> 00:28:50,440 Speaker 10: Department of Homeland Security open that's not going to have. 558 00:28:50,520 --> 00:28:53,040 Speaker 10: It's apparent that that will not happen. So then the 559 00:28:53,120 --> 00:28:55,560 Speaker 10: question is for the Democratic minority in the Senate, do 560 00:28:55,600 --> 00:28:58,800 Speaker 10: they permit a continued resolution to keep the Department of 561 00:28:58,840 --> 00:29:00,840 Speaker 10: Homeland Security open or do they have a shutdown? 562 00:29:01,520 --> 00:29:03,400 Speaker 5: And I think that's where the politics shift. 563 00:29:03,840 --> 00:29:06,000 Speaker 10: If you have a shutdown in the Department Homeland Security, 564 00:29:06,000 --> 00:29:11,120 Speaker 10: that would then advantage the administration and President Trump and 565 00:29:11,160 --> 00:29:13,800 Speaker 10: what has been a pretty rocky month that they've had, 566 00:29:14,680 --> 00:29:18,040 Speaker 10: So cr is the answer then eventually, and I guess 567 00:29:18,040 --> 00:29:20,200 Speaker 10: the question becomes duration and I can't get an answer 568 00:29:20,200 --> 00:29:22,120 Speaker 10: from anybody under we do another two weeks or just 569 00:29:22,120 --> 00:29:24,520 Speaker 10: say all right, rip off the band aid full year 570 00:29:25,200 --> 00:29:27,800 Speaker 10: check back in twenty twenty seven. I think a full 571 00:29:27,880 --> 00:29:31,600 Speaker 10: year is less likely because of the politics of the 572 00:29:31,720 --> 00:29:34,720 Speaker 10: left and what the left is saying to the leaders 573 00:29:34,720 --> 00:29:37,720 Speaker 10: of the Democratic Party. So then it's a question of 574 00:29:37,920 --> 00:29:40,880 Speaker 10: to what end if it's a shorter duration and there 575 00:29:40,920 --> 00:29:41,880 Speaker 10: is no deal evident? 576 00:29:42,120 --> 00:29:45,200 Speaker 5: Yes, why do that? Why extend the pain? 577 00:29:45,440 --> 00:29:48,680 Speaker 10: Why keep bringing this issue up if you can't come 578 00:29:48,760 --> 00:29:51,160 Speaker 10: up with some legislative when to advantage one party or 579 00:29:51,160 --> 00:29:55,959 Speaker 10: the other. Then so we're all watching, and we're all 580 00:29:55,960 --> 00:29:58,160 Speaker 10: going to watch in lifetime of what that number is. 581 00:29:58,200 --> 00:29:59,200 Speaker 5: It'll be something odd. 582 00:29:59,200 --> 00:30:02,560 Speaker 10: It's not going to be some some number built off 583 00:30:02,600 --> 00:30:07,360 Speaker 10: of science. But I think the best outcome for both 584 00:30:07,360 --> 00:30:10,040 Speaker 10: sides would be a long term, continued resolution for the 585 00:30:10,040 --> 00:30:12,560 Speaker 10: Department of Homeland Security and then fight it out on 586 00:30:12,600 --> 00:30:13,400 Speaker 10: the campaign trip. 587 00:30:13,520 --> 00:30:18,320 Speaker 2: I'm hearing chatter that Democrats might be impressed by a 588 00:30:18,360 --> 00:30:21,760 Speaker 2: deal that does not include their demands. Granted, body cams 589 00:30:21,760 --> 00:30:26,000 Speaker 2: are already out there per Order of Christinome, but in 590 00:30:26,040 --> 00:30:28,160 Speaker 2: fact a change at the top of the agency. We're 591 00:30:28,200 --> 00:30:30,920 Speaker 2: giving you body cams and we're giving you secretary nome. 592 00:30:30,960 --> 00:30:33,120 Speaker 3: Do we have a deal? Have you heard anything like that? 593 00:30:33,360 --> 00:30:35,640 Speaker 10: Oh, that's a nice rumor, But I don't think President 594 00:30:35,720 --> 00:30:37,560 Speaker 10: Trump is in that type of thing going to happen. 595 00:30:38,440 --> 00:30:41,920 Speaker 10: That is not And if you've listened to his response, yes, 596 00:30:42,000 --> 00:30:45,240 Speaker 10: he sent home and in to take over the Minneapolis situation, 597 00:30:45,560 --> 00:30:49,400 Speaker 10: which in traditional Washington parlance is the cabinet secretary getting 598 00:30:49,440 --> 00:30:53,120 Speaker 10: demoted and some special operator coming in to fix the problem. 599 00:30:53,440 --> 00:30:56,280 Speaker 10: It's clear that's what it was, but the President has 600 00:30:56,320 --> 00:30:58,760 Speaker 10: not talked in those terms, and the politics have it 601 00:30:58,840 --> 00:31:01,560 Speaker 10: evolved in those terms. So I don't think the President 602 00:31:01,640 --> 00:31:06,200 Speaker 10: is likely to sacrifice a cabinet secretary, and then that 603 00:31:06,240 --> 00:31:09,200 Speaker 10: cabinet secretary would have to be filled that goes through 604 00:31:09,200 --> 00:31:12,480 Speaker 10: the whole nominating process, which would be a huge challenge 605 00:31:13,040 --> 00:31:15,880 Speaker 10: to fill that secretary position. 606 00:31:16,000 --> 00:31:18,120 Speaker 3: There's nothing else that Republicans can offer, right. 607 00:31:18,400 --> 00:31:20,760 Speaker 10: No, And so this is a question of whether or 608 00:31:20,800 --> 00:31:25,760 Speaker 10: not Democrats see the political advantage of continuing to continue 609 00:31:25,800 --> 00:31:29,800 Speaker 10: the agency funding and then on the campaign trail to 610 00:31:29,920 --> 00:31:32,360 Speaker 10: let this go, or do they insist on a shutdown, 611 00:31:32,520 --> 00:31:35,760 Speaker 10: at which point they are potentially giving President Trump that 612 00:31:35,960 --> 00:31:40,400 Speaker 10: upper hand when the Democrats are shutting down Homeland Security. 613 00:31:40,560 --> 00:31:41,560 Speaker 5: Just the name. 614 00:31:41,880 --> 00:31:44,680 Speaker 10: Of the agency is enough that you should see the 615 00:31:44,800 --> 00:31:45,960 Speaker 10: bad politics of it. 616 00:31:45,960 --> 00:31:47,920 Speaker 2: It's fascinating. I'm just looking down at the calendar here. 617 00:31:47,960 --> 00:31:51,960 Speaker 2: It's two weeks from tomorrow State of the Union, Ver 618 00:31:52,120 --> 00:31:55,040 Speaker 2: twenty fourth, Big Night. Is that an inflection point in 619 00:31:55,040 --> 00:31:56,719 Speaker 2: this debate? Do they need to get something done by then? 620 00:31:56,800 --> 00:31:59,040 Speaker 2: Or does it advantage the president to say Democrats are 621 00:31:59,040 --> 00:32:01,440 Speaker 2: holding up the Department of Homeland Security when he's in 622 00:32:01,480 --> 00:32:02,320 Speaker 2: the speakers. 623 00:32:02,000 --> 00:32:05,520 Speaker 10: Roster and thus why a long term continued resolution is 624 00:32:05,520 --> 00:32:09,880 Speaker 10: to the Democratics Democratic Party favor and President Trump will 625 00:32:10,000 --> 00:32:12,480 Speaker 10: use that bully pulpit that every president has in the 626 00:32:12,480 --> 00:32:15,400 Speaker 10: State of Union to drive his message. That is the 627 00:32:15,440 --> 00:32:18,880 Speaker 10: opportunity for the president, if nothing happens before then, to 628 00:32:19,160 --> 00:32:22,600 Speaker 10: turn this debate on immigration back to his advantage. It 629 00:32:22,640 --> 00:32:24,840 Speaker 10: has been a political winner for him since he came 630 00:32:24,880 --> 00:32:29,560 Speaker 10: down that golden escalator a decade ago. Immigration has been 631 00:32:29,680 --> 00:32:36,840 Speaker 10: his biggest winning political I would say, not policy, but 632 00:32:36,400 --> 00:32:40,040 Speaker 10: the biggest, boldest, sort of statement of who he is 633 00:32:40,600 --> 00:32:43,360 Speaker 10: is built around immigration. He needs to get the advantage back. 634 00:32:43,520 --> 00:32:46,000 Speaker 10: He's got to get the groove back. And in order 635 00:32:46,000 --> 00:32:49,440 Speaker 10: to get on with the midterm elections and hopefully bring 636 00:32:49,720 --> 00:32:52,760 Speaker 10: a little more support for Republicans that we're currently seeing polls. 637 00:32:52,800 --> 00:32:55,520 Speaker 2: Does Mike Johnson need to worry about decorum this year 638 00:32:55,640 --> 00:32:58,080 Speaker 2: or we're just we assume that this is the octagon. 639 00:32:58,240 --> 00:33:01,240 Speaker 10: Ever, I think when Nancy Pelosia ripped President Trump's speech, 640 00:33:02,360 --> 00:33:05,280 Speaker 10: I think we've got full blown no decorum in the House. 641 00:33:05,360 --> 00:33:07,200 Speaker 2: Represent What were you in the chamber for your last 642 00:33:07,280 --> 00:33:08,840 Speaker 2: date of the Union where you're sitting like right in 643 00:33:08,920 --> 00:33:10,640 Speaker 2: front of Marjorie Dealer Green. I mean, what was it 644 00:33:10,680 --> 00:33:12,680 Speaker 2: like to be in there with people who tell this, Yeah, 645 00:33:12,760 --> 00:33:14,760 Speaker 2: I bet yourself. I can't imagine. 646 00:33:15,520 --> 00:33:16,560 Speaker 5: Oh, I've seen everything. 647 00:33:16,880 --> 00:33:19,720 Speaker 10: I've seen everything, and nothing was surprising about the state 648 00:33:19,760 --> 00:33:22,840 Speaker 10: of the Union. And now you see the progressive activist 649 00:33:22,960 --> 00:33:25,280 Speaker 10: left when they're winning primers like a New Jersey special 650 00:33:25,280 --> 00:33:27,200 Speaker 10: election New Jersey a couple of weeks ago. You see 651 00:33:27,200 --> 00:33:30,040 Speaker 10: the energy of the Democratic Party is in those progressive, loud, 652 00:33:30,200 --> 00:33:34,560 Speaker 10: outspoken folks like a Jasmine Crockett and the far left 653 00:33:34,600 --> 00:33:36,560 Speaker 10: of the Democratic Party. So I think you're going to 654 00:33:36,600 --> 00:33:37,680 Speaker 10: see some shenanigans here. 655 00:33:37,720 --> 00:33:40,200 Speaker 2: Oh my god. Yeah, I don't doubt that at all. 656 00:33:40,240 --> 00:33:42,280 Speaker 2: And I guess it's made for TV. We'll be there 657 00:33:42,600 --> 00:33:44,360 Speaker 2: one way or the other. I'll be curious to hear 658 00:33:44,400 --> 00:33:48,880 Speaker 2: how the President attacks this whole issue and exactly what 659 00:33:48,920 --> 00:33:49,800 Speaker 2: the response will be. 660 00:33:51,120 --> 00:33:52,560 Speaker 3: Did you watch kid Rock last night? 661 00:33:54,360 --> 00:33:56,200 Speaker 5: So we can't even have one halftime show? 662 00:33:56,320 --> 00:33:57,240 Speaker 3: No, what do you mean of it? 663 00:33:57,560 --> 00:33:59,640 Speaker 2: That was the microcosm last night, wasn't it. You saw 664 00:33:59,640 --> 00:34:01,880 Speaker 2: the president this reaction. By the way, I'm sure all 665 00:34:01,880 --> 00:34:03,920 Speaker 2: your friends at mar A Laga were texting you Bad 666 00:34:03,920 --> 00:34:06,360 Speaker 2: Bunny is on the big screen. They had him on 667 00:34:06,400 --> 00:34:08,080 Speaker 2: the big screen. It wasn't kid Rock. We saw the 668 00:34:08,160 --> 00:34:12,319 Speaker 2: videos last evening. What does that tell us about our 669 00:34:12,360 --> 00:34:15,160 Speaker 2: politics and culture in the country where actually Bad Bunny, 670 00:34:15,200 --> 00:34:17,160 Speaker 2: you love him or hate him, didn't say anything about 671 00:34:17,200 --> 00:34:19,560 Speaker 2: ice or it was actually a pretty inclusive message and 672 00:34:19,600 --> 00:34:24,000 Speaker 2: the President had that very critical post waiting the second 673 00:34:24,040 --> 00:34:24,600 Speaker 2: he was done. 674 00:34:24,680 --> 00:34:27,399 Speaker 10: Well, But so the halftime show, let's just go back 675 00:34:27,400 --> 00:34:30,880 Speaker 10: in time. Sure, this has always been a standout performance 676 00:34:30,920 --> 00:34:34,280 Speaker 10: from a standouts global star and even a special moment 677 00:34:34,320 --> 00:34:37,640 Speaker 10: for whatever the biggest act on the planet is at 678 00:34:37,640 --> 00:34:40,520 Speaker 10: that moment. I think we saw that last night was 679 00:34:40,600 --> 00:34:44,200 Speaker 10: bad Bunny. I think you saw and you saw the 680 00:34:44,360 --> 00:34:47,320 Speaker 10: NFL seeking a new demographic here in the United States. 681 00:34:47,719 --> 00:34:49,840 Speaker 5: You saw this emphasis from Bad Bunny. 682 00:34:49,600 --> 00:34:53,480 Speaker 10: About Americans, right, the emphasis there, So there's a big 683 00:34:53,520 --> 00:34:55,279 Speaker 10: statement there. But you also had a big statement by 684 00:34:55,320 --> 00:34:58,040 Speaker 10: the President that this is a divided moment for America 685 00:34:58,040 --> 00:34:59,680 Speaker 10: and we need to think of it as a divided moment. 686 00:35:00,000 --> 00:35:03,040 Speaker 10: We'll see how the politics shake out on this. This 687 00:35:03,120 --> 00:35:07,120 Speaker 10: is more representative of the divide than in creating the divide. 688 00:35:08,160 --> 00:35:12,239 Speaker 10: And our politics have become far more tribal now than 689 00:35:12,280 --> 00:35:13,040 Speaker 10: in generations. 690 00:35:13,040 --> 00:35:15,000 Speaker 2: Well, yeah, it's the definition of tribal. I guess when 691 00:35:15,000 --> 00:35:18,480 Speaker 2: you have several halftime shows to pick from. But if 692 00:35:18,520 --> 00:35:22,360 Speaker 2: you're a congressman from North Carolina and you just saw 693 00:35:22,400 --> 00:35:26,239 Speaker 2: this president elected with the help of young Latino men, 694 00:35:26,320 --> 00:35:28,600 Speaker 2: and we've got a midterm election where we're going to 695 00:35:28,719 --> 00:35:31,120 Speaker 2: keep driving here, are you worried that the politics have 696 00:35:31,239 --> 00:35:32,399 Speaker 2: changed in a year? 697 00:35:32,520 --> 00:35:35,839 Speaker 10: You look for omens and the bad omens that Republicans 698 00:35:35,880 --> 00:35:39,400 Speaker 10: saw last was a special election in Texas that swung 699 00:35:39,520 --> 00:35:44,080 Speaker 10: thirty one points against my party. It is a message 700 00:35:44,080 --> 00:35:46,000 Speaker 10: that you have to focus in on what the American 701 00:35:46,040 --> 00:35:49,520 Speaker 10: people care about, and if you're listening to the American people, 702 00:35:49,840 --> 00:35:52,680 Speaker 10: they do want safety in their communities. They do want 703 00:35:52,840 --> 00:35:58,600 Speaker 10: criminals deported, criminal illegals deported. Yes, they want border skirted, yes, 704 00:35:58,640 --> 00:36:01,080 Speaker 10: but they don't want to see activists sure gunned down 705 00:36:01,080 --> 00:36:04,760 Speaker 10: in the streets and watch it over over on video. 706 00:36:05,400 --> 00:36:07,960 Speaker 10: So this is a moment where the president needs to 707 00:36:07,960 --> 00:36:10,440 Speaker 10: get back to immigration in the way that he was 708 00:36:10,560 --> 00:36:13,120 Speaker 10: winning on in the last selection. And he needs to 709 00:36:13,120 --> 00:36:15,920 Speaker 10: get back to an economic message and delivering on an 710 00:36:15,960 --> 00:36:19,640 Speaker 10: economic policy set on affordability. Those are the driving forces 711 00:36:19,680 --> 00:36:21,799 Speaker 10: of turnout for the midterm. We know he can get 712 00:36:21,840 --> 00:36:24,239 Speaker 10: along with anybody, Mom, Donnie and the Oval. Why doesn't 713 00:36:24,280 --> 00:36:26,160 Speaker 10: he have bad Bunny come to the Oval office. We'll 714 00:36:26,200 --> 00:36:28,200 Speaker 10: hang us out of the decks. That would not be something. 715 00:36:28,200 --> 00:36:30,040 Speaker 10: Play the tape bag. You heard it first? You heard 716 00:36:30,080 --> 00:36:30,800 Speaker 10: it first? 717 00:36:31,160 --> 00:36:34,560 Speaker 2: Patrick McHenry, I think I know which one you were watching. 718 00:36:34,640 --> 00:36:37,719 Speaker 2: Last evening, Kid Rock couldn't get the lip sync to work. 719 00:36:40,400 --> 00:36:43,600 Speaker 2: Thanks for listening to the Balance of Power podcast. Make 720 00:36:43,640 --> 00:36:46,560 Speaker 2: sure to subscribe if you haven't already, at Apple, Spotify, 721 00:36:46,680 --> 00:36:49,239 Speaker 2: or wherever you get your podcasts, and you can find 722 00:36:49,320 --> 00:36:52,560 Speaker 2: us live every weekday from Washington, DC at noontime Eastern 723 00:36:52,880 --> 00:36:54,360 Speaker 2: at Bloomberg dot com.