1 00:00:01,639 --> 00:00:06,160 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On, 2 00:00:07,240 --> 00:00:10,680 Speaker 1: where is it written so that says America can be 3 00:00:10,760 --> 00:00:13,840 Speaker 1: the leading manufacturing the world of dude? Where is that written? 4 00:00:13,880 --> 00:00:16,919 Speaker 1: While we did lose fifty people from the labor force, 5 00:00:16,960 --> 00:00:18,599 Speaker 1: they certainly don't want to see the unemployment them to 6 00:00:18,680 --> 00:00:21,439 Speaker 1: go up. I'd like to see people working. Bloomberg Sound 7 00:00:21,480 --> 00:00:25,759 Speaker 1: On Politics, Policy and Perspective from DC's top name. I 8 00:00:25,760 --> 00:00:28,040 Speaker 1: think we all know guys like this. You know, guys 9 00:00:28,080 --> 00:00:31,440 Speaker 1: that think they know better than everyone about everything. Is 10 00:00:31,520 --> 00:00:35,520 Speaker 1: Joe Biden, the legitimately elected President of the United States. 11 00:00:35,560 --> 00:00:37,879 Speaker 1: Joe Biden's absolutely the president. I mean, my gosh, have 12 00:00:37,920 --> 00:00:40,920 Speaker 1: you seen the gas practice? Like Bloomberg Sound On with 13 00:00:41,040 --> 00:00:45,839 Speaker 1: Joe Matthew on Bloomberg Radio, Unemployment falls back to the 14 00:00:45,880 --> 00:00:48,960 Speaker 1: lowest in five decades, and no one seems to feel 15 00:00:49,000 --> 00:00:52,600 Speaker 1: good about it. Welcome to the fastest hour in politics, 16 00:00:52,600 --> 00:00:56,440 Speaker 1: as President Biden celebrates the job's numbers even as Wall 17 00:00:56,480 --> 00:00:59,640 Speaker 1: Street tumbles on worries about higher interest rates the possible 18 00:00:59,680 --> 00:01:02,760 Speaker 1: recept action. We're gonna spend time this Friday with the 19 00:01:02,880 --> 00:01:07,040 Speaker 1: stalwart Bloomberg's Joe Wisenthal, co host of The Odd Lots 20 00:01:07,080 --> 00:01:09,840 Speaker 1: podcast is with us in just a moment. Later, the 21 00:01:09,880 --> 00:01:14,479 Speaker 1: Senate debate in Arizona shows another election denier, softening some edges. 22 00:01:15,080 --> 00:01:17,800 Speaker 1: We'll talk with Bloomberg Politics reporter Ryan teak Beck with 23 00:01:18,319 --> 00:01:21,280 Speaker 1: about politics on the mid term trail. As Liz Cheney 24 00:01:21,319 --> 00:01:24,399 Speaker 1: calls out Republicans in Arizona. We'll get into that with 25 00:01:24,440 --> 00:01:27,920 Speaker 1: our signature panel. Rick Davis is back today, Genie Chanzano, 26 00:01:27,959 --> 00:01:31,800 Speaker 1: Bloomberg Politics contributors for the Hour. Welcome to Friday and 27 00:01:31,840 --> 00:01:35,240 Speaker 1: the threshold of the weekend. As we return to Washington 28 00:01:35,240 --> 00:01:38,560 Speaker 1: today on Sound On with this job's day with stronger 29 00:01:38,560 --> 00:01:41,600 Speaker 1: than expected numbers that you've been hearing about all day 30 00:01:41,680 --> 00:01:44,200 Speaker 1: on Bloomberg seeing through the eyes of the fete, of course, 31 00:01:44,240 --> 00:01:48,240 Speaker 1: and against the backdrop of inflation. But President Biden speaking today, 32 00:01:48,280 --> 00:01:51,280 Speaker 1: he was not going there when he spoke to supporters 33 00:01:51,280 --> 00:01:54,960 Speaker 1: at Evolvo power train plant in Maryland. Here he is. 34 00:01:55,240 --> 00:01:59,040 Speaker 1: Our economy created two sixty three thousand jobs last month, 35 00:02:00,040 --> 00:02:03,200 Speaker 1: as ten million jobs since I've come into office. That's 36 00:02:03,200 --> 00:02:05,640 Speaker 1: the fastest job growth at any point of any president 37 00:02:05,680 --> 00:02:10,200 Speaker 1: in all American history, historic progress. The unemployment rate remains 38 00:02:10,200 --> 00:02:14,400 Speaker 1: at historic low three point five unemployment that includes the 39 00:02:14,440 --> 00:02:17,640 Speaker 1: lowest unemployment among Hispanic Americans ever in the history of 40 00:02:17,680 --> 00:02:21,200 Speaker 1: this country, the second lowest employment of black teenagers ever. 41 00:02:22,960 --> 00:02:25,360 Speaker 1: He shows up, thinks he's got a great story to tell. 42 00:02:25,760 --> 00:02:29,720 Speaker 1: Market does not agree. Labor Secretary Marty Walsh was on 43 00:02:29,760 --> 00:02:32,640 Speaker 1: Blueberg this morning talking about it. Also, you know, happy 44 00:02:32,680 --> 00:02:35,800 Speaker 1: to see more hiring, but quick to acknowledge the elephant 45 00:02:35,840 --> 00:02:37,919 Speaker 1: in the room here he is we need to continue 46 00:02:37,960 --> 00:02:40,520 Speaker 1: to bring down the flash every pressures that people have. 47 00:02:40,680 --> 00:02:43,720 Speaker 1: Certainly what OPAC made a decision on this week to 48 00:02:43,800 --> 00:02:46,840 Speaker 1: do was not helpful to us. The President was disappointed, 49 00:02:46,840 --> 00:02:49,600 Speaker 1: were disappointed his administration. But we need to continue to 50 00:02:49,600 --> 00:02:52,919 Speaker 1: bring down those pressures. And so here we are lessan 51 00:02:52,960 --> 00:02:55,160 Speaker 1: five weeks from the mid terms. Now it's about four 52 00:02:55,160 --> 00:02:58,680 Speaker 1: weeks away. Gossip, interest rate hikes that have hurt the 53 00:02:58,720 --> 00:03:02,440 Speaker 1: markets have not put a dent in the job market. 54 00:03:03,560 --> 00:03:05,000 Speaker 1: And so they've got to be sitting around on the 55 00:03:05,000 --> 00:03:08,880 Speaker 1: White House with the Economic Advisor, UH, the economic advisors, 56 00:03:08,919 --> 00:03:12,040 Speaker 1: the whole economic team, saying what what are we gonna 57 00:03:12,080 --> 00:03:13,799 Speaker 1: do now? This story is not going to change between 58 00:03:13,840 --> 00:03:16,400 Speaker 1: now and voting right, Get another FED meeting, get another 59 00:03:16,440 --> 00:03:20,800 Speaker 1: jobs report. One of the more provocative takes that I 60 00:03:20,840 --> 00:03:23,800 Speaker 1: saw today on Twitter came from our very own Joe 61 00:03:23,840 --> 00:03:27,760 Speaker 1: Wise and full, who I love talking to about this 62 00:03:27,760 --> 00:03:30,000 Speaker 1: stuff because he's just got a very different view, and 63 00:03:30,120 --> 00:03:34,000 Speaker 1: in a more provocative one on things scrolling through my 64 00:03:34,760 --> 00:03:39,640 Speaker 1: How you doing, Joe, It's well, it's my great pleasure, 65 00:03:39,680 --> 00:03:44,119 Speaker 1: thank you. Here we go, yield bugs getting yield workers 66 00:03:44,200 --> 00:03:47,920 Speaker 1: getting jobs, elite seeing their portfolios with her. And yet 67 00:03:47,960 --> 00:03:52,520 Speaker 1: the z H crowd remains apoplectic, almost, like Joe writes, 68 00:03:52,560 --> 00:03:54,760 Speaker 1: almost like the whole thing is an affinity scheme to 69 00:03:54,800 --> 00:03:57,840 Speaker 1: play on the political biases of the investor class as 70 00:03:57,840 --> 00:04:00,960 Speaker 1: opposed to a coherent economic world view. You've got over 71 00:04:01,000 --> 00:04:04,880 Speaker 1: six d likes. The comments are a riot. I just wonder, 72 00:04:05,000 --> 00:04:07,360 Speaker 1: you know, But this is what Joe Biden is thinking, right, 73 00:04:07,360 --> 00:04:09,280 Speaker 1: It's like the old Saturday Night Live skin. I can't 74 00:04:09,280 --> 00:04:11,920 Speaker 1: believe I'm losing to this guy. He's telling this crazy 75 00:04:12,200 --> 00:04:14,400 Speaker 1: job story that seems to get better every month in 76 00:04:14,400 --> 00:04:18,440 Speaker 1: a vacuum. But my goodness. You know, inflation is dogging 77 00:04:18,520 --> 00:04:21,880 Speaker 1: some of the least privileged people in the country. Yes, 78 00:04:22,640 --> 00:04:26,240 Speaker 1: you know. Look, clearly, inflation is a very is a 79 00:04:26,320 --> 00:04:30,920 Speaker 1: problem for consumers, particularly those who have you know, limited 80 00:04:30,960 --> 00:04:33,560 Speaker 1: incomes and a lot of people are seeing their money 81 00:04:33,600 --> 00:04:36,760 Speaker 1: get very stretched, seeing a decline in their standard of living. 82 00:04:37,240 --> 00:04:39,880 Speaker 1: On the other hand, if you just look at what's 83 00:04:39,880 --> 00:04:42,560 Speaker 1: happened in the US this year, we've seen rates go up, 84 00:04:42,600 --> 00:04:44,920 Speaker 1: which is something people were asking for for years during 85 00:04:44,960 --> 00:04:47,679 Speaker 1: dessert era, it's like, oh, savers can't get any money. 86 00:04:47,920 --> 00:04:51,160 Speaker 1: We've seen job growth remain robust, which has been a 87 00:04:51,200 --> 00:04:54,240 Speaker 1: real surprise, and nominal wage of growth has still been impressive, 88 00:04:54,279 --> 00:04:57,120 Speaker 1: but just a month after month we see the unemployment 89 00:04:57,200 --> 00:05:00,680 Speaker 1: rate going back down. And we've seen asset holders who 90 00:05:00,720 --> 00:05:03,240 Speaker 1: did fantastically well for the ten years after the Great 91 00:05:03,240 --> 00:05:05,200 Speaker 1: Financial Crisis, if you had real estate, if you had 92 00:05:05,200 --> 00:05:07,480 Speaker 1: tech stocks, if you had bonds, if you had normal stocks, 93 00:05:07,839 --> 00:05:10,480 Speaker 1: they've had a pretty well, you know, a dismal year. 94 00:05:10,760 --> 00:05:13,000 Speaker 1: So there's a story you could tell, and I think 95 00:05:13,000 --> 00:05:16,640 Speaker 1: it's legitimate where you say, like, look, this is like, uh, 96 00:05:16,680 --> 00:05:20,480 Speaker 1: we are seeing a major inequality compression in two If 97 00:05:20,480 --> 00:05:23,920 Speaker 1: you're thinking of like, well, what would compressing inequality, which 98 00:05:23,960 --> 00:05:27,080 Speaker 1: people have been talking about for years look like what? 99 00:05:27,160 --> 00:05:29,040 Speaker 1: It would not look that different, would it. It It would 100 00:05:29,040 --> 00:05:32,440 Speaker 1: look like robust wage growth, rock solid or sorry, robust 101 00:05:32,520 --> 00:05:35,719 Speaker 1: job growth rock solid job growth and a compression in 102 00:05:35,800 --> 00:05:38,880 Speaker 1: asset valuations, and that's what we're seeing this year. And 103 00:05:38,960 --> 00:05:41,000 Speaker 1: so I do find it interesting. You know, look like 104 00:05:41,040 --> 00:05:43,440 Speaker 1: my my, my tweet was a big tongue in cheek 105 00:05:43,480 --> 00:05:45,720 Speaker 1: and trying to be provocative, but I do think it's 106 00:05:45,760 --> 00:05:48,479 Speaker 1: interesting that in some sense what we've seen in the 107 00:05:48,480 --> 00:05:50,880 Speaker 1: economy in two is what a lot of people have 108 00:05:50,960 --> 00:05:54,320 Speaker 1: been frankly asking for for a long time. Well, you 109 00:05:54,360 --> 00:05:57,680 Speaker 1: know when Joe Biden talks about, yeah, the from the 110 00:05:57,720 --> 00:06:00,599 Speaker 1: bottom out than the from the middle after remember the 111 00:06:00,600 --> 00:06:03,240 Speaker 1: whole thing as opposed to trickle down, Isn't that kind 112 00:06:03,240 --> 00:06:05,640 Speaker 1: of what he's trying to say? And you know, my goodness, 113 00:06:05,680 --> 00:06:07,360 Speaker 1: you're not putting that on a bumper sticker that we're 114 00:06:07,360 --> 00:06:10,800 Speaker 1: going to restructure the economy for something more stable the 115 00:06:10,880 --> 00:06:13,920 Speaker 1: years from now. Yeah, vote for vote for Joe Biden, 116 00:06:14,360 --> 00:06:19,039 Speaker 1: the president who brought three point five percent unemployment, you know, 117 00:06:19,200 --> 00:06:25,000 Speaker 1: six point eight percent inflation and decline of the S ANDP. No, 118 00:06:25,120 --> 00:06:28,120 Speaker 1: It's like it's not a great slogan. And inflation is 119 00:06:28,360 --> 00:06:32,040 Speaker 1: you know, obviously a very salient topic. Gas prices specifically, 120 00:06:32,040 --> 00:06:36,480 Speaker 1: assailant rent prices specifically are sailant but on the other hand, look, 121 00:06:36,960 --> 00:06:39,240 Speaker 1: you know, we have seen this historic pace of job 122 00:06:39,320 --> 00:06:42,640 Speaker 1: creation that is real. It is also real that it's 123 00:06:42,640 --> 00:06:45,320 Speaker 1: surprised many people. The upside. A lot of the jobs 124 00:06:45,360 --> 00:06:47,839 Speaker 1: that we've seen, we're just you know, of course, like uh, 125 00:06:48,000 --> 00:06:51,400 Speaker 1: erasing the losses that we experienced during the pandemic. But 126 00:06:51,520 --> 00:06:54,680 Speaker 1: at this point, the strength of the job market continues 127 00:06:54,720 --> 00:06:57,400 Speaker 1: to surprise economists to the upside, both in terms of 128 00:06:57,400 --> 00:07:00,880 Speaker 1: the falling unemployment rate, the durability of job gains, and 129 00:07:00,920 --> 00:07:03,400 Speaker 1: of course you know, just yeah, and the durability of 130 00:07:03,440 --> 00:07:05,760 Speaker 1: job games. So from a sort of like if you 131 00:07:05,800 --> 00:07:08,080 Speaker 1: don't have any money in the market and you're sort 132 00:07:08,080 --> 00:07:11,240 Speaker 1: of the main source of wealth is your job, which 133 00:07:11,320 --> 00:07:13,520 Speaker 1: for many people that's the case, you could make the 134 00:07:13,600 --> 00:07:17,280 Speaker 1: argument this is a this is a very pro worker economy. 135 00:07:17,680 --> 00:07:20,320 Speaker 1: You know, when you think about interest rates getting back 136 00:07:20,360 --> 00:07:22,679 Speaker 1: to you know, you can buy a CD or something 137 00:07:22,760 --> 00:07:25,320 Speaker 1: for like four or five percent. Uh. You know, I 138 00:07:25,320 --> 00:07:28,560 Speaker 1: think about my parents looking at their at their you know, 139 00:07:28,560 --> 00:07:31,040 Speaker 1: they're trying to live through retirement on a fixed income, 140 00:07:31,360 --> 00:07:33,480 Speaker 1: and and you can look at that from both ways, 141 00:07:33,760 --> 00:07:36,200 Speaker 1: do you when you when you sort of think about 142 00:07:36,280 --> 00:07:38,800 Speaker 1: the real scary stuff, you know, the stuff that can 143 00:07:38,840 --> 00:07:40,720 Speaker 1: go wrong with this economy, and you think about the 144 00:07:40,800 --> 00:07:45,040 Speaker 1: number of boomers retiring now who were watching this evaporate 145 00:07:45,040 --> 00:07:47,760 Speaker 1: while they're trying to figure out how to make ends meet. 146 00:07:48,680 --> 00:07:51,160 Speaker 1: How do you reconcile that with people who actually can 147 00:07:51,360 --> 00:07:55,840 Speaker 1: make you know, a pretty risk free return now suddenly 148 00:07:56,160 --> 00:08:00,640 Speaker 1: on fixed income. Yeah, it's really tricky. And what I think, Uh, 149 00:08:00,680 --> 00:08:02,560 Speaker 1: you know, it's sort of interesting to think if you 150 00:08:02,600 --> 00:08:07,000 Speaker 1: think back to like the stock market boom of one 151 00:08:07,080 --> 00:08:09,560 Speaker 1: in particular, I suspect there are probably a lot of 152 00:08:09,560 --> 00:08:12,360 Speaker 1: people I don't know the exact numbers who left the 153 00:08:12,360 --> 00:08:14,960 Speaker 1: workforce because it's like they hit their mark, whether it's 154 00:08:15,000 --> 00:08:17,440 Speaker 1: the value of their homes, the value of their stocks. 155 00:08:17,640 --> 00:08:20,040 Speaker 1: You might have a valuable home right now, but the 156 00:08:20,120 --> 00:08:23,000 Speaker 1: housing market is kind of frozen. So mortgage trades are 157 00:08:23,000 --> 00:08:25,680 Speaker 1: at seven. It's a it's not a great time to 158 00:08:25,720 --> 00:08:27,400 Speaker 1: buy a house. It's also not a great time to 159 00:08:27,440 --> 00:08:29,960 Speaker 1: sell a house. Not a lot of forced sellers. So 160 00:08:30,040 --> 00:08:32,800 Speaker 1: the expectation is that will keep inventories tight and that 161 00:08:32,840 --> 00:08:36,640 Speaker 1: will keep a bid under home prices. But you know, 162 00:08:36,679 --> 00:08:39,120 Speaker 1: you could have nominally a lot of housing wealth in 163 00:08:39,160 --> 00:08:41,360 Speaker 1: a very difficult time unlocking it and then you see 164 00:08:41,400 --> 00:08:44,840 Speaker 1: the value of the stock market decline. Is it's tricky. 165 00:08:44,920 --> 00:08:46,960 Speaker 1: There's a lot of tricky things right now that is 166 00:08:47,160 --> 00:08:51,240 Speaker 1: very tough for retirees. The labor shortage or the difficulty 167 00:08:51,240 --> 00:08:54,520 Speaker 1: in hiring is also a tricky time for retireas. And 168 00:08:54,559 --> 00:08:57,079 Speaker 1: this could be a long term story in the U. S. Economy. 169 00:08:57,440 --> 00:08:59,800 Speaker 1: The fact that you know, if you are retired and 170 00:09:00,000 --> 00:09:02,520 Speaker 1: as you get older you need more help with more 171 00:09:02,520 --> 00:09:05,000 Speaker 1: and more things. You know, you need human labor. Set 172 00:09:05,040 --> 00:09:06,920 Speaker 1: it aside of the price setting, aside whether you have 173 00:09:07,000 --> 00:09:10,240 Speaker 1: money in your bank account to hire someone. You need someone. 174 00:09:10,320 --> 00:09:14,120 Speaker 1: People need help and they get older, and the shape 175 00:09:14,120 --> 00:09:16,559 Speaker 1: of the sort of demographic period is going to make 176 00:09:16,559 --> 00:09:18,440 Speaker 1: a tricky So I think there are gonna be some 177 00:09:18,520 --> 00:09:23,240 Speaker 1: like real stresses long term even after or hopefully assume this. 178 00:09:23,400 --> 00:09:26,360 Speaker 1: You know, this period of high inflation gets gets um 179 00:09:26,679 --> 00:09:30,040 Speaker 1: gets addressed. So Joe Wisenthal, when when President Biden looked 180 00:09:30,080 --> 00:09:33,559 Speaker 1: across the resolute desk this morning and looked Bryan Deese 181 00:09:33,559 --> 00:09:35,400 Speaker 1: in the eyes, whirst they knew what this number was. 182 00:09:35,440 --> 00:09:38,360 Speaker 1: I'm assuming before eight thirty h Brian Diese gets it 183 00:09:38,400 --> 00:09:39,800 Speaker 1: a day or two early. Here, I don't know about 184 00:09:39,880 --> 00:09:42,880 Speaker 1: Joe Biden. Did they say, okay, you know what, there 185 00:09:42,880 --> 00:09:45,200 Speaker 1: goes your soft landing? Well? Is that? I mean that 186 00:09:45,480 --> 00:09:47,920 Speaker 1: was that the realization? So so it's a it's a 187 00:09:47,920 --> 00:09:51,160 Speaker 1: good question. But the way I see it is, as 188 00:09:51,280 --> 00:09:54,400 Speaker 1: long as the labor market is strong, we can't rule 189 00:09:54,440 --> 00:09:56,840 Speaker 1: out the prospect of a soft landing. Yes, it will 190 00:09:56,880 --> 00:09:59,520 Speaker 1: mean that there's no imminent FED pivot. Right. Okay, so 191 00:09:59,559 --> 00:10:01,880 Speaker 1: we saw short term rates in the US jump again 192 00:10:01,920 --> 00:10:04,440 Speaker 1: further today because yeah, there's if you're hoping that the 193 00:10:04,440 --> 00:10:07,000 Speaker 1: FED was about to pivot, they're not going to. But 194 00:10:07,040 --> 00:10:09,640 Speaker 1: I don't think that the idea of a soft landing 195 00:10:09,720 --> 00:10:11,679 Speaker 1: could be ruled out until we really start seeing the 196 00:10:11,760 --> 00:10:13,640 Speaker 1: unemployment rate shoot up. And right now it's going in 197 00:10:13,679 --> 00:10:15,640 Speaker 1: the right, It's it's going in a good direction. And 198 00:10:15,679 --> 00:10:19,480 Speaker 1: I think that look from the Biden White House perspective, 199 00:10:20,880 --> 00:10:25,439 Speaker 1: I suspect still just from a politics standpoint, more jobs 200 00:10:25,480 --> 00:10:29,360 Speaker 1: are still better than uh sure, fewer jobs. But swell 201 00:10:29,440 --> 00:10:31,600 Speaker 1: picking up this canon in the background, right like, oh 202 00:10:31,640 --> 00:10:33,720 Speaker 1: my god, this is really gonna They're gonna really do 203 00:10:33,840 --> 00:10:36,559 Speaker 1: something serious. Yeah, but you know, and that's for real, 204 00:10:36,600 --> 00:10:38,520 Speaker 1: But you know they've already to be clear, they've this 205 00:10:38,559 --> 00:10:40,559 Speaker 1: has been like one of the fastest pace of hiking 206 00:10:40,600 --> 00:10:43,520 Speaker 1: cycles already in history. So they have done something very 207 00:10:43,559 --> 00:10:46,200 Speaker 1: serious already. And what we're starting to see, and of 208 00:10:46,200 --> 00:10:48,920 Speaker 1: course the story of the last two weeks is there's 209 00:10:48,920 --> 00:10:51,960 Speaker 1: the economic story and there's the financial story. We see 210 00:10:52,000 --> 00:10:55,080 Speaker 1: this extreme tightening and financial conditions, you know, as they say, 211 00:10:55,120 --> 00:10:57,440 Speaker 1: like things are starting to break a little bit, most 212 00:10:57,480 --> 00:10:59,760 Speaker 1: notably with the guilt market in the UK, and that 213 00:10:59,840 --> 00:11:02,839 Speaker 1: the entire financial system is kind of on tenter hooks here, 214 00:11:03,200 --> 00:11:07,240 Speaker 1: and so there are reasons for the FED to not 215 00:11:07,440 --> 00:11:11,680 Speaker 1: necessarily pivot, but to start thinking like, okay, like how 216 00:11:11,720 --> 00:11:13,480 Speaker 1: far do we want to push this before we start 217 00:11:13,520 --> 00:11:17,080 Speaker 1: causing real trouble. And the financial system is you know, 218 00:11:17,360 --> 00:11:20,079 Speaker 1: the financial markets are not great by many measures. They're 219 00:11:20,080 --> 00:11:23,160 Speaker 1: going down, spreads are widening, liquidity is bad. We saw 220 00:11:23,160 --> 00:11:25,880 Speaker 1: what happened with guilt, so you know, there may be 221 00:11:26,120 --> 00:11:31,280 Speaker 1: forces on the horizon that cause some FED officials to 222 00:11:31,320 --> 00:11:34,000 Speaker 1: want to temper the aggressiveness of the rate hikes from here. 223 00:11:35,080 --> 00:11:37,320 Speaker 1: A lot to think about here, and I just always 224 00:11:37,400 --> 00:11:39,840 Speaker 1: love talking through with Joe Wisen. You can find by 225 00:11:39,840 --> 00:11:43,559 Speaker 1: the way, the full Guilt Market episode of Joe's podcast 226 00:11:43,840 --> 00:11:46,600 Speaker 1: Odd Lots. I gotta get a beer with you sometime 227 00:11:46,600 --> 00:11:49,360 Speaker 1: when I'm up there. Thank you again as always for 228 00:11:49,400 --> 00:11:52,400 Speaker 1: the insights Joe wisen Fall on the Fastest Hour in Politics. 229 00:11:52,400 --> 00:11:54,440 Speaker 1: What do we do now? Is we assemble the panel? 230 00:11:54,920 --> 00:11:57,679 Speaker 1: Rick Davis is back with us and Jennie Schanzano of 231 00:11:57,679 --> 00:12:02,480 Speaker 1: Bloomberg Politics contributors on, Joe Matthew and Washington. This is Bloomberg. 232 00:12:05,880 --> 00:12:10,240 Speaker 1: You're listening to Bloomberg. Sound On with Joe Matthew on 233 00:12:10,400 --> 00:12:16,040 Speaker 1: Bloomberg Radio, the Fastest Hour in Politics with an eye 234 00:12:16,080 --> 00:12:19,000 Speaker 1: on inflation and the job markets. Just to start the 235 00:12:19,040 --> 00:12:21,480 Speaker 1: conversation here, we'll have the panel with us in just 236 00:12:21,559 --> 00:12:25,800 Speaker 1: a second. As the job market, of course shows not 237 00:12:26,000 --> 00:12:31,840 Speaker 1: just tightness across the board, but further tightness as drillers 238 00:12:32,400 --> 00:12:36,280 Speaker 1: struggle to find enough workers to meet output targets this year. 239 00:12:36,400 --> 00:12:41,040 Speaker 1: So think about this. Of course, inflation, being driven by 240 00:12:41,200 --> 00:12:44,520 Speaker 1: rising energy prices, has created the need for more production, 241 00:12:45,400 --> 00:12:48,360 Speaker 1: but the job market is too tight to get the 242 00:12:48,400 --> 00:12:52,160 Speaker 1: work done. The number of workers employed in US oil 243 00:12:52,200 --> 00:12:54,760 Speaker 1: and gas jobs total a hundred thirty three thousand, eight 244 00:12:54,800 --> 00:12:58,960 Speaker 1: hundred last month, down almost five from this year's peak. 245 00:12:59,040 --> 00:13:03,800 Speaker 1: Just in July. So when you consider the impact that 246 00:13:03,920 --> 00:13:06,640 Speaker 1: this is having on elements of our economy, it's far 247 00:13:06,760 --> 00:13:11,040 Speaker 1: more complicated as usual than the headline numbers. Rick Davis 248 00:13:11,120 --> 00:13:13,440 Speaker 1: is back with us today, joined of course, with Jeanie 249 00:13:13,480 --> 00:13:16,520 Speaker 1: Schanzano to make our signature panel on sound on Bloomberg 250 00:13:16,520 --> 00:13:19,800 Speaker 1: Politics contributors. Rick, it's great to have you here. This 251 00:13:19,840 --> 00:13:23,720 Speaker 1: story is not getting any easier for the White House. Uh, 252 00:13:23,880 --> 00:13:27,160 Speaker 1: it's just incredible, you know that that the president cannot 253 00:13:27,280 --> 00:13:30,840 Speaker 1: sell one of the strongest job markets in history because 254 00:13:30,880 --> 00:13:35,160 Speaker 1: of everything that it's basically causing. Yeah, Joe, I mean, 255 00:13:35,200 --> 00:13:37,679 Speaker 1: this is a real quandary for the White House and 256 00:13:37,720 --> 00:13:40,280 Speaker 1: the messaging team. Uh. They want to go out and 257 00:13:40,280 --> 00:13:43,160 Speaker 1: claim victory around jobs, but jobs isn't one of the 258 00:13:43,200 --> 00:13:47,079 Speaker 1: core elements of not getting inflation in check, and inflation 259 00:13:47,160 --> 00:13:49,920 Speaker 1: is what voters I think are feeling to pinch around 260 00:13:50,400 --> 00:13:53,480 Speaker 1: and and certainly it seems to indicate, uh, they're holding 261 00:13:53,520 --> 00:13:56,400 Speaker 1: him responsible for that. So he's got great news coming 262 00:13:56,440 --> 00:13:58,520 Speaker 1: in on the jobs front, but it's I don't think 263 00:13:58,559 --> 00:14:01,560 Speaker 1: it's even penetrating when you look at the survey data 264 00:14:01,600 --> 00:14:03,560 Speaker 1: around what people say the number one issue is, and 265 00:14:03,600 --> 00:14:06,800 Speaker 1: that's in placent. Listen to the language the message, Genie 266 00:14:06,800 --> 00:14:10,720 Speaker 1: that he used today. Hager's town, Maryland, is where we 267 00:14:10,800 --> 00:14:14,040 Speaker 1: found the president again. He was at a power train plant, 268 00:14:14,080 --> 00:14:17,960 Speaker 1: Evolvo plant, uh, talking to workers. There are some supporters there, 269 00:14:17,960 --> 00:14:20,240 Speaker 1: but they had workers collected. Here's how he tried to 270 00:14:20,320 --> 00:14:23,640 Speaker 1: sort of thread the needle on this. Listen. Now, the 271 00:14:23,680 --> 00:14:26,240 Speaker 1: pace of job goes as cooling while still powering our 272 00:14:26,280 --> 00:14:30,560 Speaker 1: recovery forward. Wage growth for workers remained solid, down from 273 00:14:30,600 --> 00:14:34,080 Speaker 1: historic high pace months ago, but still growing for workers 274 00:14:34,080 --> 00:14:37,200 Speaker 1: who deserve rays. And this is the progress we need 275 00:14:37,240 --> 00:14:41,040 Speaker 1: to see in the short term and transition to a 276 00:14:41,080 --> 00:14:43,840 Speaker 1: more stable growth that continues to deliver for workers and 277 00:14:43,880 --> 00:14:47,800 Speaker 1: families while bringing inflation down. In the long term, the 278 00:14:47,840 --> 00:14:52,360 Speaker 1: economy build on a firmer foundation, a transition two more 279 00:14:52,520 --> 00:14:55,440 Speaker 1: stable growth. We've been hearing that line more and more, 280 00:14:55,520 --> 00:14:59,400 Speaker 1: Genie from the President, from Brian Deese, his economic advisors. 281 00:14:59,720 --> 00:15:03,680 Speaker 1: I'd don't really know what that means, but when people 282 00:15:04,200 --> 00:15:08,280 Speaker 1: want more money and greater opportunities, you know, is that 283 00:15:08,320 --> 00:15:11,760 Speaker 1: the message they want to hear? You know? I was 284 00:15:11,800 --> 00:15:14,080 Speaker 1: thinking when the President got these numbers, he must have 285 00:15:14,160 --> 00:15:18,280 Speaker 1: felt just so frustrated, Like what a maddening situation to 286 00:15:18,360 --> 00:15:22,000 Speaker 1: have these historic labor numbers and the historic job growth, 287 00:15:22,280 --> 00:15:24,600 Speaker 1: and yet to have a public that is so anxious. 288 00:15:24,720 --> 00:15:27,720 Speaker 1: People are not feeling it. Many people feel, despite what 289 00:15:27,840 --> 00:15:30,000 Speaker 1: it common to say, that we are actually in a recession, 290 00:15:30,000 --> 00:15:32,360 Speaker 1: with most of commist say we're not. So I think 291 00:15:32,400 --> 00:15:34,840 Speaker 1: the President and the team are trying to make the 292 00:15:34,880 --> 00:15:38,240 Speaker 1: case that we are moving in the right direction. It's 293 00:15:38,240 --> 00:15:40,600 Speaker 1: going to take time, and I think that that is 294 00:15:40,640 --> 00:15:43,120 Speaker 1: the right message to send. But of course time is 295 00:15:43,160 --> 00:15:45,840 Speaker 1: not on their side. You know, as the Fed raises 296 00:15:45,920 --> 00:15:48,200 Speaker 1: interest rates, it takes what six to nine months for 297 00:15:48,320 --> 00:15:50,960 Speaker 1: that lag to actually have an impact. They are on 298 00:15:51,000 --> 00:15:53,480 Speaker 1: the right course, and yet it's not going to be 299 00:15:53,520 --> 00:15:56,160 Speaker 1: in time enough to help the midterms. And the piece 300 00:15:56,200 --> 00:15:58,600 Speaker 1: of really frustrating news for the president has to be 301 00:15:58,640 --> 00:16:01,000 Speaker 1: people like Larry Summer's coming and saying we're going to 302 00:16:01,120 --> 00:16:04,240 Speaker 1: actually be in a recession in eighteen months, because that's 303 00:16:04,320 --> 00:16:07,480 Speaker 1: right before the presidential election. So the timing here is 304 00:16:07,520 --> 00:16:10,280 Speaker 1: not good for the Biden administration all around. And I 305 00:16:10,280 --> 00:16:12,360 Speaker 1: feel like, you know, the show Stranger Things, an upside 306 00:16:12,360 --> 00:16:15,520 Speaker 1: down world. He can't even celebrate his labor growth and 307 00:16:15,600 --> 00:16:19,440 Speaker 1: jobs historic Johns right, I bet that's exactly how he feels. 308 00:16:20,200 --> 00:16:24,040 Speaker 1: Not to mention the geopolitics happening at the same time here, 309 00:16:24,240 --> 00:16:28,600 Speaker 1: uh rick, the the Opeque decision to cut by two 310 00:16:28,600 --> 00:16:32,240 Speaker 1: million barrels. It's remarkable to hear the Labor Secretary bring 311 00:16:32,280 --> 00:16:35,200 Speaker 1: that up Marty Walsh today and his sort of analysis 312 00:16:35,200 --> 00:16:37,360 Speaker 1: of the overall pictures is, you know, yeah, this is great, 313 00:16:37,360 --> 00:16:39,440 Speaker 1: but we gotta get this. We gotta get inflation down, 314 00:16:39,440 --> 00:16:42,640 Speaker 1: and OPEC just made it a lot more difficult. None 315 00:16:42,640 --> 00:16:45,040 Speaker 1: of this can be fixed between now in the mid terms. 316 00:16:45,040 --> 00:16:48,360 Speaker 1: We have to acknowledge that. Yeah, I mean, you know, 317 00:16:48,440 --> 00:16:51,880 Speaker 1: you're thirty two days away from the mid terms. Uh, 318 00:16:52,040 --> 00:16:55,720 Speaker 1: you can release all the strategic petroleum you want. Your 319 00:16:55,760 --> 00:16:58,400 Speaker 1: impact on the price of gas is gonna be a 320 00:16:58,480 --> 00:17:01,680 Speaker 1: negligible and the narrative is not great. Right. People remember 321 00:17:01,720 --> 00:17:06,560 Speaker 1: way too well a month ago having surging gasoline prices. 322 00:17:06,600 --> 00:17:09,880 Speaker 1: All they gotta hear is that OPEC plus is um 323 00:17:10,280 --> 00:17:13,080 Speaker 1: reduced output and they're going to be expecting the brace 324 00:17:13,119 --> 00:17:17,439 Speaker 1: and every day morning news today in Arizona where I am, um, 325 00:17:17,480 --> 00:17:20,359 Speaker 1: you know, the price of gasoline has gone up, so 326 00:17:20,400 --> 00:17:21,960 Speaker 1: they're gonna hear it every day on the on the 327 00:17:22,000 --> 00:17:24,040 Speaker 1: news and and they're gonna feel it. It's a pump 328 00:17:24,119 --> 00:17:27,879 Speaker 1: so uh at the end of the day, UH this 329 00:17:27,880 --> 00:17:31,600 Speaker 1: this administration, Democrats have been challenged by economic news going 330 00:17:31,640 --> 00:17:33,439 Speaker 1: to this cycle, and it doesn't look like they're going 331 00:17:33,480 --> 00:17:35,639 Speaker 1: to get any relief going in the next dirty days. 332 00:17:35,960 --> 00:17:40,000 Speaker 1: So then the question becomes, Gennie, is is row you know, 333 00:17:40,080 --> 00:17:43,359 Speaker 1: the issue of abortion rights combined with some of the 334 00:17:43,359 --> 00:17:48,480 Speaker 1: other sweeteners like student loan debt, like uh pardoning people 335 00:17:48,560 --> 00:17:53,440 Speaker 1: convicted of marijuana possession, do those add up to be 336 00:17:53,840 --> 00:17:57,440 Speaker 1: uh any kind of competition for for the big issue 337 00:17:57,480 --> 00:17:59,920 Speaker 1: of inflation. As we look at the pools, the answer 338 00:18:00,119 --> 00:18:03,160 Speaker 1: is clearly no. I mean jobs, the economy, inflation, those 339 00:18:03,200 --> 00:18:06,440 Speaker 1: are the big issues on people's minds, and unfortunately for Democrats, 340 00:18:06,440 --> 00:18:10,040 Speaker 1: followed by crime in many cases. But Dobbs still does 341 00:18:10,119 --> 00:18:12,960 Speaker 1: play big. And you know what else plays big, Donald 342 00:18:13,000 --> 00:18:17,080 Speaker 1: Trump election denial and extremism. And I think these numbers 343 00:18:17,080 --> 00:18:19,919 Speaker 1: are an indication that we might hear the President be 344 00:18:20,119 --> 00:18:23,160 Speaker 1: even louder on those scores as we as Rick said, 345 00:18:23,160 --> 00:18:25,639 Speaker 1: in the next thirty thirty two days, they pushed towards 346 00:18:25,640 --> 00:18:28,080 Speaker 1: this midterm to get their base out to vote, even 347 00:18:28,119 --> 00:18:33,040 Speaker 1: as another prominent election denier softens the edge on that story. 348 00:18:33,119 --> 00:18:36,600 Speaker 1: We're gonna bring you to right where Rick Davis is Arizona, 349 00:18:36,640 --> 00:18:41,119 Speaker 1: the big Senate debate and a fascinating conversation with Liz Cheney, 350 00:18:41,160 --> 00:18:44,359 Speaker 1: who has a warning for Republicans in Arizona. That's next. 351 00:18:44,600 --> 00:18:49,000 Speaker 1: This is Bloomberg. I got a breaker here from the 352 00:18:49,000 --> 00:18:51,359 Speaker 1: New York Times on the campaign trail, and it brings 353 00:18:51,400 --> 00:18:54,560 Speaker 1: us back to Georgia. This is the story that just 354 00:18:54,720 --> 00:18:58,640 Speaker 1: keeps telling. As I read at the New York Times, 355 00:18:58,680 --> 00:19:02,080 Speaker 1: a woman who has said herschel Walker, of course, the 356 00:19:02,119 --> 00:19:05,119 Speaker 1: Republican Senate nominee and Georgia paid for her abortion. This 357 00:19:05,160 --> 00:19:08,399 Speaker 1: has been a big story, scandal, whatever you want to 358 00:19:08,440 --> 00:19:10,520 Speaker 1: call it, over the past couple of the days. This 359 00:19:10,600 --> 00:19:12,679 Speaker 1: woman told The New York Times that he urged her 360 00:19:12,720 --> 00:19:15,880 Speaker 1: to terminate a second pregnancy two years later, they ended 361 00:19:16,760 --> 00:19:22,480 Speaker 1: their relationship after she refused. We're gonna have more on 362 00:19:22,560 --> 00:19:24,760 Speaker 1: this coming up with the panel a little bit later 363 00:19:24,840 --> 00:19:26,560 Speaker 1: on this hour, but I just want to give you 364 00:19:26,600 --> 00:19:29,920 Speaker 1: a sense of what's happening as we speak. This following 365 00:19:30,600 --> 00:19:33,199 Speaker 1: the big throw down in Arizona, the debate last night 366 00:19:33,280 --> 00:19:36,919 Speaker 1: Senator Mark Kelly and Republican Blake Masters going at it 367 00:19:37,240 --> 00:19:39,600 Speaker 1: and what will likely be I'm assuming it's one and 368 00:19:39,640 --> 00:19:43,200 Speaker 1: done here the first and only debate in a race. 369 00:19:43,240 --> 00:19:45,919 Speaker 1: Again that may help to determine the balance of power 370 00:19:46,600 --> 00:19:49,040 Speaker 1: in the U. S. Senate. Of course, it's Arizona An 371 00:19:49,040 --> 00:19:52,359 Speaker 1: immigration loomed large. This is an area where Mark Kelly 372 00:19:52,680 --> 00:19:55,359 Speaker 1: kind of broke away from the Biden administration and even 373 00:19:55,440 --> 00:19:57,639 Speaker 1: his own party. Listen to Mark Kelly in the debate. 374 00:19:57,880 --> 00:19:59,800 Speaker 1: You know, when I got to UH Washington, d C. 375 00:20:00,119 --> 00:20:03,200 Speaker 1: One of the first things I realized was the Democrats 376 00:20:03,640 --> 00:20:07,520 Speaker 1: don't understand this issue, and Republicans just want to talk 377 00:20:07,560 --> 00:20:10,560 Speaker 1: about it and complain about it and actually not do 378 00:20:10,680 --> 00:20:13,919 Speaker 1: anything about it. They just want to politicize that. We 379 00:20:14,000 --> 00:20:17,399 Speaker 1: heard this tonight from my opponent, Blake Masters. You know, 380 00:20:17,520 --> 00:20:22,320 Speaker 1: he thinks he knows better than everyone about everything when 381 00:20:22,320 --> 00:20:24,960 Speaker 1: it comes to border security. I mean, I've been focused 382 00:20:24,960 --> 00:20:30,480 Speaker 1: on this and on immigration. Yes, we need comprehensive reform 383 00:20:30,880 --> 00:20:34,199 Speaker 1: the key word there. But interesting Democrats don't know what 384 00:20:34,240 --> 00:20:37,480 Speaker 1: to do with this issue, he says. Then again, Republicans 385 00:20:37,560 --> 00:20:39,479 Speaker 1: only want to talk about it. Here's the response from 386 00:20:39,520 --> 00:20:42,800 Speaker 1: Blake Masters. If this is the result of Senator Kelly 387 00:20:42,840 --> 00:20:45,360 Speaker 1: being focused on the border. My gosh, he's the most 388 00:20:45,359 --> 00:20:48,400 Speaker 1: ineffective and worst senator of all time. The borders wide open, 389 00:20:48,440 --> 00:20:51,000 Speaker 1: people are walking through by the hundreds of thousands. You know, 390 00:20:51,040 --> 00:20:53,760 Speaker 1: if the Mexican drug cartels, if these terrorists, narcos, if 391 00:20:53,760 --> 00:20:56,359 Speaker 1: they could vote in the selection, every single one of 392 00:20:56,400 --> 00:20:58,720 Speaker 1: them would vote for Senator Kelly because they get what 393 00:20:58,760 --> 00:21:01,400 Speaker 1: they want from him. Let's bring in Ryan take Back 394 00:21:01,440 --> 00:21:05,840 Speaker 1: with Bloomberg News national politics reporter who's been tracking, uh, 395 00:21:05,920 --> 00:21:09,080 Speaker 1: the races, of course, the debates, but also the evolving 396 00:21:09,160 --> 00:21:11,359 Speaker 1: language in some of them. Ryan, it's great to have you. 397 00:21:11,400 --> 00:21:14,600 Speaker 1: I really appreciate your being with us here on a Friday. 398 00:21:14,640 --> 00:21:18,200 Speaker 1: This felt a bit like a draw in Arizona. Is 399 00:21:18,240 --> 00:21:21,440 Speaker 1: that how you see it? Yeah? And in this race, um, 400 00:21:21,640 --> 00:21:26,000 Speaker 1: a draw is going to favor the Democrat. There's still 401 00:21:26,040 --> 00:21:29,119 Speaker 1: a lot of compentitive races in Arizona right now. I 402 00:21:29,119 --> 00:21:31,080 Speaker 1: don't think that we really know which way the governor's 403 00:21:31,160 --> 00:21:33,440 Speaker 1: race is going to go. Secretary of State place there 404 00:21:33,560 --> 00:21:36,479 Speaker 1: is still up for grabs. But I think that in 405 00:21:36,520 --> 00:21:39,000 Speaker 1: the in the Senate race, Kelly seems to have really 406 00:21:39,359 --> 00:21:41,520 Speaker 1: gotten the upper hand. And I don't think that this 407 00:21:41,640 --> 00:21:45,399 Speaker 1: debate changed that. I don't think that it was you know, 408 00:21:45,600 --> 00:21:48,879 Speaker 1: a you know, amazing performance by him, but he did 409 00:21:48,960 --> 00:21:52,480 Speaker 1: what he needed to do and Masters just wasn't able 410 00:21:52,560 --> 00:21:55,720 Speaker 1: to kind of break through. I'd like to ask you 411 00:21:55,760 --> 00:21:59,320 Speaker 1: about a little bit more about Blake Masters. Uh. You know, 412 00:21:59,400 --> 00:22:02,200 Speaker 1: at first he was asked about whether he had scrubbed 413 00:22:02,359 --> 00:22:06,040 Speaker 1: or what acknowledged that he had scrubbed his website of 414 00:22:06,040 --> 00:22:09,439 Speaker 1: of of what we're seen as some extreme views on 415 00:22:09,520 --> 00:22:13,080 Speaker 1: abortion with no exceptions. He said that's not true and 416 00:22:13,119 --> 00:22:16,720 Speaker 1: tried to qualify his stand on this. Then of course 417 00:22:16,880 --> 00:22:20,160 Speaker 1: came the whole idea. And he is a noted election 418 00:22:20,200 --> 00:22:24,240 Speaker 1: denier and certainly endorsed by Donald Trump. But when he 419 00:22:24,320 --> 00:22:27,280 Speaker 1: was asked about it, we saw we heard similar language 420 00:22:27,280 --> 00:22:29,920 Speaker 1: to what we heard from Don Baldock in in uh 421 00:22:29,960 --> 00:22:32,840 Speaker 1: in New Hampshire, who really took a turn away from 422 00:22:32,880 --> 00:22:35,320 Speaker 1: saying that the election was stolen. And last week on 423 00:22:35,359 --> 00:22:38,000 Speaker 1: the broadcast here on sound on Jeff Deal or just 424 00:22:38,040 --> 00:22:41,160 Speaker 1: a couple of days ago, Jeff Deal, the Republican running 425 00:22:41,160 --> 00:22:46,080 Speaker 1: for governor in Massachusetts, framed the so called rigging very 426 00:22:46,119 --> 00:22:49,359 Speaker 1: similarly to the way Blake Masters did. But let's start 427 00:22:49,440 --> 00:22:51,399 Speaker 1: with the way this, this went down in the debate. 428 00:22:51,440 --> 00:22:56,359 Speaker 1: Here's Masters again, is Joe Biden the legitimately elected president 429 00:22:56,480 --> 00:22:59,840 Speaker 1: of the United States. Joe Biden's absolutely the president. I mean, 430 00:22:59,880 --> 00:23:04,160 Speaker 1: my gosh, have you seen the gas prices lately. I'm 431 00:23:04,200 --> 00:23:06,240 Speaker 1: not trying to trick you. He's duly sworn and certified. 432 00:23:06,240 --> 00:23:08,199 Speaker 1: He's the legitimate president. He's in the White House, and 433 00:23:08,280 --> 00:23:13,000 Speaker 1: unfortunately for all of us. Okay, so what did happen 434 00:23:13,040 --> 00:23:16,680 Speaker 1: then if somebody was thumbing the scale. Here's Blake Masters 435 00:23:16,680 --> 00:23:18,240 Speaker 1: with a with a little bit more of that answer. 436 00:23:18,560 --> 00:23:23,040 Speaker 1: I think it's a problem that the FBI forced Facebook. 437 00:23:23,040 --> 00:23:26,520 Speaker 1: They pressured Facebook and other big tech companies to censor 438 00:23:26,640 --> 00:23:31,159 Speaker 1: true information about Hunter Biden's crimes in the weeks before 439 00:23:31,400 --> 00:23:35,040 Speaker 1: the election, and so millions of Americans didn't get to 440 00:23:35,080 --> 00:23:37,080 Speaker 1: read about that. They didn't get to read about Hunter 441 00:23:37,160 --> 00:23:39,600 Speaker 1: Biden and his corrupt business dealings with China and the 442 00:23:39,720 --> 00:23:44,680 Speaker 1: Ukraine business dealings which credibly implicated Joe Biden. And then 443 00:23:44,680 --> 00:23:46,320 Speaker 1: the media lied to us about it. They said, oh, 444 00:23:46,320 --> 00:23:49,000 Speaker 1: that was Russian disinformation. No, it wasn't. It was true. 445 00:23:49,440 --> 00:23:52,119 Speaker 1: And so when the media is lying to people helping 446 00:23:52,160 --> 00:23:56,400 Speaker 1: big tech and apparently federal law enforcement censor information about 447 00:23:56,440 --> 00:23:59,199 Speaker 1: presidential candidates. I think people start to worry about the 448 00:23:59,200 --> 00:24:03,639 Speaker 1: integrity of their life actions the media, big tech, and 449 00:24:03,720 --> 00:24:06,760 Speaker 1: federal law enforcement. Ryan, This is exactly what we heard 450 00:24:07,320 --> 00:24:09,480 Speaker 1: just a couple of days ago from Jeff Deal. As 451 00:24:09,560 --> 00:24:13,680 Speaker 1: I mentioned, is that the new answer is it code 452 00:24:14,640 --> 00:24:16,399 Speaker 1: or is just that this is the only way an 453 00:24:16,400 --> 00:24:19,640 Speaker 1: election denier is going to back out of this? Yeah, 454 00:24:19,800 --> 00:24:22,840 Speaker 1: I mean to be very clear here, Blake Masters isn't 455 00:24:22,920 --> 00:24:26,520 Speaker 1: just an election denier. He spent his campaign money to 456 00:24:26,640 --> 00:24:29,720 Speaker 1: run an add in the primary that begins with him 457 00:24:29,760 --> 00:24:33,680 Speaker 1: looking directly at the camera and saying, I think Donald 458 00:24:33,680 --> 00:24:38,680 Speaker 1: Trump won in so so of all of the election 459 00:24:38,720 --> 00:24:40,280 Speaker 1: that I am that I've been talking and I've been 460 00:24:40,320 --> 00:24:45,479 Speaker 1: tracking more than the um you know they are. There 461 00:24:45,520 --> 00:24:47,760 Speaker 1: are lots of different ways that they have said that 462 00:24:47,880 --> 00:24:51,400 Speaker 1: where they have come tried to sort of said, well, 463 00:24:51,440 --> 00:24:55,240 Speaker 1: you know, I have some questions. That is really high 464 00:24:55,320 --> 00:24:57,439 Speaker 1: up there because it isn't just something he said. I mean, 465 00:24:57,440 --> 00:24:59,959 Speaker 1: he keap money to say it when he wrote us 466 00:25:00,040 --> 00:25:03,720 Speaker 1: script out and we proved that. So it's really hard 467 00:25:03,760 --> 00:25:05,960 Speaker 1: for him to bear in a way from that. Now 468 00:25:06,280 --> 00:25:08,840 Speaker 1: we've seen with John Buldock, you know, he did reverse 469 00:25:08,920 --> 00:25:12,560 Speaker 1: himself after the primary. In the primary, he said, you know, 470 00:25:12,760 --> 00:25:14,760 Speaker 1: I stand by a letter that I signed that that 471 00:25:14,880 --> 00:25:18,439 Speaker 1: the election was stolen. Then immediately after winning the nomination 472 00:25:18,440 --> 00:25:20,680 Speaker 1: he said, I've actually changed my mind. And then recently 473 00:25:20,720 --> 00:25:22,840 Speaker 1: he went back again and said, actually now he doesn't 474 00:25:22,880 --> 00:25:25,520 Speaker 1: know if the election was stolen or not. And it 475 00:25:25,640 --> 00:25:29,879 Speaker 1: is a very very hard sort of not untie, once 476 00:25:29,920 --> 00:25:32,840 Speaker 1: you have tied it. And I just think that Masters 477 00:25:32,880 --> 00:25:35,399 Speaker 1: is kind of talking himself in circles, and it's it's 478 00:25:35,480 --> 00:25:37,360 Speaker 1: kind of necessary to point out that what he said 479 00:25:37,359 --> 00:25:40,640 Speaker 1: there is not accurate. That the FBI did not order 480 00:25:40,680 --> 00:25:43,919 Speaker 1: a big tech to do anything. Uh. What happened was 481 00:25:43,960 --> 00:25:46,680 Speaker 1: that there was a story and the social media company 482 00:25:46,800 --> 00:25:50,880 Speaker 1: kind of on their own decided to not amplify it. Uh. 483 00:25:50,880 --> 00:25:53,040 Speaker 1: And I and you can doubt that PC issue. Well, 484 00:25:53,040 --> 00:25:55,080 Speaker 1: we're going to be hearing it again, then again and 485 00:25:55,320 --> 00:25:58,800 Speaker 1: again based on what we have already heard the last 486 00:25:58,800 --> 00:26:01,680 Speaker 1: couple of weeks. But this is this is an interesting trend. 487 00:26:01,680 --> 00:26:04,040 Speaker 1: We're gonna reassemble the panel and get their take on 488 00:26:04,119 --> 00:26:08,240 Speaker 1: this byan take back with great conversation. Have a great weekend, Ryan, 489 00:26:08,760 --> 00:26:11,160 Speaker 1: and stay with us on sound on This is Bloomberg. 490 00:26:13,600 --> 00:26:17,400 Speaker 1: You're listening to Bloomberg. You sound on with Joe Matthew 491 00:26:17,760 --> 00:26:24,359 Speaker 1: on Bloomberg Radio. Donald Trump said, just as recently as Wednesday, 492 00:26:24,760 --> 00:26:27,000 Speaker 1: there's two days ago in a speech in Miami, that 493 00:26:27,160 --> 00:26:31,000 Speaker 1: the election was stolen in that he was the winner 494 00:26:31,080 --> 00:26:35,000 Speaker 1: in and and easily won this. So how does that 495 00:26:35,200 --> 00:26:39,680 Speaker 1: square with what we're hearing from Blake Masters, Don Baldock, 496 00:26:40,720 --> 00:26:43,960 Speaker 1: Jeff Deal and what will that mean for their relationships? 497 00:26:44,000 --> 00:26:48,800 Speaker 1: He endorsed them and now they're not so sure. Well, actually, 498 00:26:48,800 --> 00:26:50,800 Speaker 1: you heard from Blake Masters. He made it clear he 499 00:26:50,840 --> 00:26:55,320 Speaker 1: thinks that Joe Biden is the legitimate presidents. Let's reassemble 500 00:26:55,359 --> 00:26:57,600 Speaker 1: the panel. Rick Davis G. D. Schanzano with us. Rick 501 00:26:57,600 --> 00:27:01,919 Speaker 1: actually is in Arizona where the debate took place and 502 00:27:02,080 --> 00:27:06,320 Speaker 1: was part of a really interesting event, fascinating conversation with 503 00:27:06,440 --> 00:27:09,600 Speaker 1: Liz Cheney. Rick actually put the whole thing together. It 504 00:27:09,600 --> 00:27:12,199 Speaker 1: took place at the McCain Institute at a s U 505 00:27:12,280 --> 00:27:15,600 Speaker 1: and Rick moderated this conversation that was newsmaking. Liz Cheney 506 00:27:15,680 --> 00:27:22,280 Speaker 1: was urging voters specifically in Arizona to reject Republican candidates 507 00:27:23,280 --> 00:27:26,879 Speaker 1: who were election deniers, not only for governor Senate but 508 00:27:26,920 --> 00:27:29,520 Speaker 1: also secretary of State. And she had a message as well. 509 00:27:29,560 --> 00:27:32,600 Speaker 1: I thought was fascinating for Glenn Yuncan, who went out 510 00:27:32,600 --> 00:27:37,200 Speaker 1: there to uh to stump for the election, denying Republican nominee. 511 00:27:37,480 --> 00:27:40,520 Speaker 1: Here's Liz Cheney. I don't know that I have ever 512 00:27:40,600 --> 00:27:44,159 Speaker 1: voted for a Democrat, UM, but if I lived in 513 00:27:44,200 --> 00:27:48,520 Speaker 1: Arizona now, I absolutely would and for governor and for 514 00:27:48,600 --> 00:27:51,840 Speaker 1: secretary of state UM. And I think, you know, we 515 00:27:51,920 --> 00:27:55,400 Speaker 1: cannot be in a position where we elect people who 516 00:27:55,480 --> 00:27:58,560 Speaker 1: will not fundamentally uphold the sanctity of elections. And I 517 00:27:58,600 --> 00:28:01,639 Speaker 1: think that that's got a you know, more important than 518 00:28:01,640 --> 00:28:06,080 Speaker 1: anything else. That's pretty incredible to hear from anybody with 519 00:28:06,119 --> 00:28:08,439 Speaker 1: the last name Cheney, Rick that if I lived in 520 00:28:08,480 --> 00:28:10,679 Speaker 1: Arizona or in a state in a similar place, it's 521 00:28:10,720 --> 00:28:14,680 Speaker 1: not just Arizona. Looking at election denying secretaries of state 522 00:28:14,720 --> 00:28:17,879 Speaker 1: potentially being in office, she says she would vote democratic. 523 00:28:17,880 --> 00:28:22,480 Speaker 1: Did that surprise you? Uh? It didn't surprise me. Uh, 524 00:28:22,600 --> 00:28:26,199 Speaker 1: you know, following Liz Cheney's career. But more different than 525 00:28:26,240 --> 00:28:29,920 Speaker 1: not vert, that's different from not voting, uh. And that 526 00:28:30,080 --> 00:28:35,240 Speaker 1: is a significant departure from her family tradition. Uh. She's 527 00:28:35,280 --> 00:28:38,960 Speaker 1: got a rich family history of dedication to the principles 528 00:28:38,960 --> 00:28:42,160 Speaker 1: of the Republican Party in her own career, but it's 529 00:28:42,160 --> 00:28:48,200 Speaker 1: pretty obvious that when she looks at candidates who basically say, uh, 530 00:28:48,240 --> 00:28:52,800 Speaker 1: in their campaigns that they will refuse to honor an 531 00:28:52,800 --> 00:28:56,720 Speaker 1: election that they don't win, then I mean, it's what 532 00:28:56,800 --> 00:29:00,360 Speaker 1: else can you say? Uh? These are not people who 533 00:29:00,360 --> 00:29:03,800 Speaker 1: have agreed to play by the rules of democracy, and 534 00:29:03,800 --> 00:29:07,240 Speaker 1: we are a rules based country, and they decided to 535 00:29:07,280 --> 00:29:10,400 Speaker 1: go a different way. And I I think it's honorable 536 00:29:10,400 --> 00:29:15,600 Speaker 1: on her part. It was obviously a career changing decision 537 00:29:15,680 --> 00:29:19,200 Speaker 1: by her to get involved with the January six Commission. 538 00:29:19,280 --> 00:29:21,920 Speaker 1: But you know, she makes the point that the um 539 00:29:22,200 --> 00:29:26,600 Speaker 1: the president is unraveling our republic and that the fragility 540 00:29:26,640 --> 00:29:31,000 Speaker 1: of American democracy should be taken seriously. And she's a 541 00:29:31,160 --> 00:29:36,320 Speaker 1: very good spokesperson for that very important topic. Yeah. I mean, 542 00:29:36,400 --> 00:29:39,760 Speaker 1: look the results of her primary we're brutal, but she 543 00:29:39,840 --> 00:29:43,280 Speaker 1: has been an incredibly effective communicator when it comes to 544 00:29:43,320 --> 00:29:47,640 Speaker 1: this issue. Listen to Donald Trump genie from Wednesday Miami, 545 00:29:47,680 --> 00:29:52,200 Speaker 1: as I mentioned it was the Hispanic Leadership Conference, as 546 00:29:52,240 --> 00:29:56,240 Speaker 1: he talks about what he thought was an unbeatable position 547 00:29:56,920 --> 00:29:59,640 Speaker 1: going into the election of and he says it in 548 00:29:59,640 --> 00:30:02,280 Speaker 1: a way that only Donald Trump could he. I remember 549 00:30:02,320 --> 00:30:06,640 Speaker 1: a very famous polster, very well known, John McLaughlin, came 550 00:30:06,680 --> 00:30:09,400 Speaker 1: to my office just prior to the play coming in. 551 00:30:10,080 --> 00:30:15,800 Speaker 1: He said, Sir, if George Washington and Abraham Lincoln came 552 00:30:15,840 --> 00:30:20,200 Speaker 1: alive from the dead and they formed a president vice 553 00:30:20,280 --> 00:30:24,680 Speaker 1: president team, you would beat them by that's how good 554 00:30:24,680 --> 00:30:27,560 Speaker 1: our numbers were. He says this with a straight faced genie. 555 00:30:28,160 --> 00:30:31,920 Speaker 1: I'm assuming he doesn't really have the research to back 556 00:30:32,000 --> 00:30:35,960 Speaker 1: that up, but this is how headstrong he is. It is, 557 00:30:36,000 --> 00:30:40,760 Speaker 1: and it's how humble he is, gentlemen, humble man. Yes, 558 00:30:40,800 --> 00:30:43,080 Speaker 1: I could just hear four score and seven years ago 559 00:30:43,160 --> 00:30:45,560 Speaker 1: ringing out in my head as we listened to his 560 00:30:45,560 --> 00:30:49,080 Speaker 1: his waffs and waynes and you know, um, you know, 561 00:30:49,640 --> 00:30:52,520 Speaker 1: I I've never I can't imagine we'd see numbers of 562 00:30:52,560 --> 00:30:55,040 Speaker 1: that kind. We do know he still has a lot 563 00:30:55,080 --> 00:30:58,200 Speaker 1: of support in the Republican Party, that's for sure. And 564 00:30:58,240 --> 00:31:00,440 Speaker 1: I think, you know, this brings it back to what 565 00:31:00,560 --> 00:31:02,920 Speaker 1: you and Rick were just talking about in congratulations to 566 00:31:03,000 --> 00:31:06,280 Speaker 1: Rick on another really important McCain Institute event, I mean, 567 00:31:06,400 --> 00:31:09,760 Speaker 1: really a newsworthy event, and what I was struck by 568 00:31:09,800 --> 00:31:12,440 Speaker 1: at the event when Liz Cheney was asked how she 569 00:31:12,560 --> 00:31:15,320 Speaker 1: defines I believe she was asked how she defines her 570 00:31:15,360 --> 00:31:18,840 Speaker 1: patriotism or what the meaning of patriotism is. She said, 571 00:31:18,880 --> 00:31:23,520 Speaker 1: putting country above political party, and putting your own political 572 00:31:23,560 --> 00:31:29,240 Speaker 1: interests in political future and career above your party and politics. So, um, 573 00:31:29,360 --> 00:31:31,800 Speaker 1: you know, or put the reverse way. I can't say 574 00:31:31,800 --> 00:31:34,360 Speaker 1: it the way she said, um, but you know, that's 575 00:31:34,360 --> 00:31:36,760 Speaker 1: where we are at this point, and she's very much 576 00:31:36,840 --> 00:31:39,400 Speaker 1: in the minority as we look at her warnings about 577 00:31:39,400 --> 00:31:41,800 Speaker 1: what's going on in Arizona at the state level, and 578 00:31:41,840 --> 00:31:44,240 Speaker 1: then a Brookings report out the other day saying four 579 00:31:44,360 --> 00:31:47,440 Speaker 1: hundred and thirty five election deniers are on the ballot 580 00:31:47,760 --> 00:31:50,160 Speaker 1: and about close to sixty percent of them have a 581 00:31:50,200 --> 00:31:53,520 Speaker 1: real shot of winning at this point, Rick, what was 582 00:31:53,560 --> 00:31:56,680 Speaker 1: your take on the Arizona Senate debate. We spent some 583 00:31:56,760 --> 00:31:59,640 Speaker 1: time on it a bit earlier this hour. Uh Senator 584 00:31:59,760 --> 00:32:04,080 Speaker 1: Kelly uh Mark Kelly was considered in it to be 585 00:32:04,120 --> 00:32:06,920 Speaker 1: in a very vulnerable position. How has he strengthened his 586 00:32:07,000 --> 00:32:10,040 Speaker 1: hand over the last couple of weeks, You know, I don't, 587 00:32:10,040 --> 00:32:12,640 Speaker 1: I don't know if he's strengthened his hand. Um, any 588 00:32:12,680 --> 00:32:16,040 Speaker 1: candidate who's incumbent and going into a month before the 589 00:32:16,080 --> 00:32:23,160 Speaker 1: election and has a pulling of about anything over is 590 00:32:23,160 --> 00:32:25,720 Speaker 1: is a good is in good shape. Right. Um, the 591 00:32:26,040 --> 00:32:29,560 Speaker 1: election has closed, there's no question, as the Republicans have 592 00:32:29,680 --> 00:32:32,880 Speaker 1: sort of consolidated around Masters, who they did not know 593 00:32:33,040 --> 00:32:35,880 Speaker 1: very well when he won the nomination. Um, you know, 594 00:32:35,960 --> 00:32:38,680 Speaker 1: it's it's tightened up, but that's just primarily because the 595 00:32:38,680 --> 00:32:42,800 Speaker 1: Repulican Party has surrounded their nominee. Um whether or not 596 00:32:42,920 --> 00:32:47,160 Speaker 1: he can get any crossover independent votes, which independent votes 597 00:32:47,240 --> 00:32:51,200 Speaker 1: in Arizona are everything right there, the largest identifiable group, 598 00:32:51,520 --> 00:32:56,000 Speaker 1: bigger than Republicans and Democrats. So I would say advantage, 599 00:32:56,080 --> 00:32:59,520 Speaker 1: you know, like what Ryan Beck was said earlier, advantage Kelly. 600 00:33:00,200 --> 00:33:01,920 Speaker 1: You know, you've got to take it away from him. 601 00:33:01,960 --> 00:33:04,880 Speaker 1: It's his election to win right now. And uh, and 602 00:33:04,920 --> 00:33:09,200 Speaker 1: I don't think anything happened in that debate that otherwise 603 00:33:09,200 --> 00:33:11,000 Speaker 1: would have done it. Look, I mean, the issue set 604 00:33:11,040 --> 00:33:13,520 Speaker 1: doesn't break well for him right The border is a 605 00:33:13,520 --> 00:33:16,640 Speaker 1: major issue and the Blood administration has has screwed it up. 606 00:33:17,040 --> 00:33:20,680 Speaker 1: So insomuch as he's kind of running away from that. Um, 607 00:33:20,760 --> 00:33:24,280 Speaker 1: you see Masters running away from Donald Trump. I think 608 00:33:24,880 --> 00:33:26,880 Speaker 1: that's a foot race that I'd have to say Kelly's 609 00:33:26,920 --> 00:33:30,320 Speaker 1: got a more likely chance of winning, fascinating the real 610 00:33:30,400 --> 00:33:32,720 Speaker 1: clear average. By the way, the poll of pulls Kelly 611 00:33:32,800 --> 00:33:37,640 Speaker 1: up for point one. Uh. We've got a January six 612 00:33:37,720 --> 00:33:42,160 Speaker 1: committee hearing next week. This was rescheduled. Uh, and that's 613 00:33:42,200 --> 00:33:45,040 Speaker 1: going to be taking place on Thursday, by the way. 614 00:33:45,040 --> 00:33:48,320 Speaker 1: But I just I do wonder as we discussed this 615 00:33:48,400 --> 00:33:52,840 Speaker 1: idea of election denying, Uh, what you thought about both 616 00:33:52,840 --> 00:33:56,120 Speaker 1: of you? Which you thought about Liz Cheney name checking 617 00:33:56,200 --> 00:33:59,040 Speaker 1: Glenn Youngcan who many believe to be the future of 618 00:33:59,040 --> 00:34:02,440 Speaker 1: the Republican Party and could in fact be your presidential candidate. 619 00:34:02,720 --> 00:34:06,240 Speaker 1: He's been traveling the country helping Republicans raise money. Uh, 620 00:34:06,280 --> 00:34:09,719 Speaker 1: and you know he has PAULA Page was on the list. 621 00:34:09,760 --> 00:34:12,560 Speaker 1: Carry Lake was on the list, which got Liz Cheney's 622 00:34:12,560 --> 00:34:17,000 Speaker 1: attention in Arizona. Uh, Genie, is he mortgaging his reputation 623 00:34:17,160 --> 00:34:20,600 Speaker 1: by sharing stages with candidates like this? You know that's 624 00:34:20,600 --> 00:34:22,600 Speaker 1: the case that Liz Cheney is trying to make that 625 00:34:22,680 --> 00:34:25,520 Speaker 1: you can't have it both ways. You can't both try 626 00:34:25,560 --> 00:34:28,360 Speaker 1: to run as a moderate as he has and to 627 00:34:28,480 --> 00:34:30,840 Speaker 1: present yourself as a as a leader of the major 628 00:34:30,880 --> 00:34:33,200 Speaker 1: political party in the country, you know, one of the 629 00:34:33,239 --> 00:34:36,520 Speaker 1: major ones, and at the same time be courting funding 630 00:34:36,640 --> 00:34:40,920 Speaker 1: and electioneering on behalf of election deniers. And I think, 631 00:34:41,040 --> 00:34:44,440 Speaker 1: you know, at this point it's not a message unfortunately 632 00:34:44,480 --> 00:34:46,799 Speaker 1: for Liz Cheney that's resonating in the party. But I 633 00:34:46,840 --> 00:34:48,919 Speaker 1: think she is betting on the fact that as time 634 00:34:48,960 --> 00:34:52,600 Speaker 1: goes by, the message will resonate. And you mentioned January 635 00:34:52,680 --> 00:34:55,840 Speaker 1: six hearing. Um, you know, I think this is you know, 636 00:34:56,120 --> 00:34:58,520 Speaker 1: likely going to be the last public hearing we have, 637 00:34:58,960 --> 00:35:01,120 Speaker 1: and I think we're going to here an awful lot 638 00:35:01,239 --> 00:35:04,440 Speaker 1: in that vein as we as they make this case 639 00:35:04,560 --> 00:35:07,239 Speaker 1: over and over again before the election, we probably won't 640 00:35:07,239 --> 00:35:09,680 Speaker 1: hear from them again after. Is it unwise for Glenn 641 00:35:09,760 --> 00:35:14,160 Speaker 1: Youngcan to be cavorting with the carry lakes of the world. Rick, Yeah, 642 00:35:14,160 --> 00:35:15,960 Speaker 1: I just don't see what's in it for him. He 643 00:35:16,600 --> 00:35:21,480 Speaker 1: very definitely negotiated his way from having to do anything 644 00:35:21,560 --> 00:35:25,000 Speaker 1: related to Donald Trump in his primary and general election 645 00:35:25,080 --> 00:35:28,120 Speaker 1: in Virginia. Uh. Everyone looked at that and said, Wow, 646 00:35:28,160 --> 00:35:30,000 Speaker 1: this could be the model. We could actually get a 647 00:35:30,040 --> 00:35:33,680 Speaker 1: Republican elected without having to cow tow to Donald Trump. 648 00:35:33,719 --> 00:35:36,239 Speaker 1: And I wouldn't call him a moderate Genie. I mean, 649 00:35:36,320 --> 00:35:42,120 Speaker 1: he's a conservative Republican in a conservative state. But he 650 00:35:42,160 --> 00:35:47,560 Speaker 1: does mortgage some of that appeal by going around and 651 00:35:47,640 --> 00:35:51,279 Speaker 1: giving some of that positive impact that he's carrying with 652 00:35:51,360 --> 00:35:54,600 Speaker 1: him to candidates like Carry Lake, who who has has 653 00:35:54,920 --> 00:35:59,120 Speaker 1: tried to now do a backflip to very similar to Masters, 654 00:35:59,120 --> 00:36:01,600 Speaker 1: who's running in this and a race to convince people 655 00:36:01,600 --> 00:36:03,520 Speaker 1: in Arizona say oh no, no, I didn't need any 656 00:36:03,520 --> 00:36:05,280 Speaker 1: of that stuff I had to say in the primary. 657 00:36:05,800 --> 00:36:07,880 Speaker 1: Um So, so look, we used to run to the 658 00:36:08,000 --> 00:36:09,960 Speaker 1: right to win the primary and come back to the 659 00:36:10,000 --> 00:36:13,439 Speaker 1: center of politics to win a general. Now we run 660 00:36:13,480 --> 00:36:16,239 Speaker 1: to Jnald Trump in the primary and then try to 661 00:36:16,320 --> 00:36:18,520 Speaker 1: run away from him as fast as we can in 662 00:36:18,560 --> 00:36:22,839 Speaker 1: the in the general. So it's a big spin. I 663 00:36:22,960 --> 00:36:25,279 Speaker 1: promised to ask you both. We only have a minute left. 664 00:36:25,360 --> 00:36:27,440 Speaker 1: I we don't have to get obviously too far into this. 665 00:36:27,480 --> 00:36:30,040 Speaker 1: Did herschel Walker just make his life more difficult? Is 666 00:36:30,080 --> 00:36:34,200 Speaker 1: this story? Uh? In the New York Times? Genie change 667 00:36:34,320 --> 00:36:37,920 Speaker 1: what was already a mess. It makes the mess a 668 00:36:38,320 --> 00:36:40,520 Speaker 1: whole heck of a lot worse. And I think it's 669 00:36:40,520 --> 00:36:43,640 Speaker 1: going to keep getting worse. And you know, uh, the 670 00:36:44,040 --> 00:36:48,120 Speaker 1: fact that he simply does not have a response to this, 671 00:36:48,600 --> 00:36:51,759 Speaker 1: and the stories drip drip keep coming out, And I 672 00:36:51,760 --> 00:36:54,000 Speaker 1: would just tell Breck I call Young n a moderate 673 00:36:54,040 --> 00:36:56,960 Speaker 1: because in the Republican Party today he's pretty much it. Huh. 674 00:36:57,320 --> 00:37:00,319 Speaker 1: Well listen, And it was really more his lack of 675 00:37:00,520 --> 00:37:03,480 Speaker 1: relationship with Donald Trump writer appearances. But Rick, would you 676 00:37:03,520 --> 00:37:07,920 Speaker 1: put herschel Walker on Sunday Morning television this weekend? I 677 00:37:08,200 --> 00:37:10,759 Speaker 1: think I'd try to put him in a hotel room 678 00:37:10,800 --> 00:37:14,640 Speaker 1: and lock him up. I signed with Lieutenant Governor. You 679 00:37:14,680 --> 00:37:17,439 Speaker 1: pick a candidate like this, you better expect a rough ride. 680 00:37:17,680 --> 00:37:19,440 Speaker 1: Wow the next couple of days and you're gonna be 681 00:37:19,520 --> 00:37:21,880 Speaker 1: something on that story. I'm glad we could all be 682 00:37:21,920 --> 00:37:24,080 Speaker 1: together to usher in the weekend. Rick and Genie, thank 683 00:37:24,080 --> 00:37:26,759 Speaker 1: you so much. We'll be back with another edition of 684 00:37:26,760 --> 00:37:30,680 Speaker 1: Bloomberg Sound on Monday, the Fastest Hour in Politics. If 685 00:37:30,680 --> 00:37:33,160 Speaker 1: you showed up late, subscribe to the podcast. You'll see 686 00:37:33,200 --> 00:37:35,720 Speaker 1: what I mean. Have a great weekend. I'm Joe Matthew. 687 00:37:35,840 --> 00:37:36,920 Speaker 1: This is Bloomberg