1
00:00:02,480 --> 00:00:03,040
Speaker 1: Good morning.

2
00:00:03,080 --> 00:00:05,920
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

3
00:00:05,960 --> 00:00:07,480
Speaker 2: stories we're following today.

4
00:00:07,920 --> 00:00:10,639
Speaker 3: Let's start with the latest on the speakership fight on

5
00:00:10,720 --> 00:00:14,280
Speaker 3: Capitol Hill. So far, too Republicans have announced their running

6
00:00:14,280 --> 00:00:17,880
Speaker 3: to replace Kevin McCarthy, House Majority Leader Steve Scalise and

7
00:00:18,079 --> 00:00:20,920
Speaker 3: Jim Jordan, who leads the Judiciary Committee and is running

8
00:00:20,920 --> 00:00:24,400
Speaker 3: one of the impeachment inquiries and to President Biden. Matt Gates,

9
00:00:24,480 --> 00:00:27,720
Speaker 3: the Florida Republican who led McCarthy's ouster, says he'd be

10
00:00:27,760 --> 00:00:29,240
Speaker 3: happy with either one of them.

11
00:00:29,760 --> 00:00:32,239
Speaker 4: I'm eager to hear their plans and their vision. But

12
00:00:32,320 --> 00:00:35,080
Speaker 4: if the House of Representatives goes from the stewardship of

13
00:00:35,200 --> 00:00:38,560
Speaker 4: Kevin McCarthy to either the stewardship of Jim Jordan or

14
00:00:38,600 --> 00:00:41,280
Speaker 4: Steve Scalise, that's going to come to the delight of

15
00:00:41,400 --> 00:00:44,959
Speaker 4: many Conservatives and certainly many of the Floridians that I represent.

16
00:00:45,440 --> 00:00:48,680
Speaker 3: Congressman Gates tells Bloomberg he opposes further aid to Ukraine.

17
00:00:48,880 --> 00:00:51,880
Speaker 3: Scalise has voted Ford in the past, but Gates says

18
00:00:51,880 --> 00:00:53,720
Speaker 3: that would not be a deal breaker for him. Hear

19
00:00:53,800 --> 00:00:56,240
Speaker 3: more of our interview with Congressman Matt Gates on the

20
00:00:56,280 --> 00:00:58,120
Speaker 3: Bloomberg Talks podcast.

21
00:00:57,920 --> 00:01:01,080
Speaker 2: Well, Nathan, the infighting on Capitol Hill, as President Biden

22
00:01:01,200 --> 00:01:04,440
Speaker 2: calling for an end to what he calls poisonous politics.

23
00:01:04,760 --> 00:01:07,720
Speaker 5: No, we have strong disagreements, but we need to stop

24
00:01:07,800 --> 00:01:10,640
Speaker 5: seeing each other as enemies. We need to talk to

25
00:01:10,680 --> 00:01:13,759
Speaker 5: one another, listen to on our work, and we can

26
00:01:13,840 --> 00:01:14,200
Speaker 5: do that.

27
00:01:14,520 --> 00:01:17,320
Speaker 2: The President is urging House Republicans to work with Democrats

28
00:01:17,319 --> 00:01:20,240
Speaker 2: on a spending bill to averted government shutdown next month.

29
00:01:20,440 --> 00:01:23,760
Speaker 2: Former Speaker McCarthy says the President did not communicate with

30
00:01:23,840 --> 00:01:28,119
Speaker 2: him enough during past budget negotiations. Biden says any conversations

31
00:01:28,240 --> 00:01:31,759
Speaker 2: wouldn't have fixed problems in McCarthy's own conference, Well.

32
00:01:31,600 --> 00:01:34,840
Speaker 3: Staying with politics, Karen, Former President Donald Trump has raised

33
00:01:34,840 --> 00:01:37,400
Speaker 3: more than forty five million dollars in the third quarter

34
00:01:37,480 --> 00:01:40,760
Speaker 3: for his campaign as he capitalized on publicity from his

35
00:01:40,920 --> 00:01:43,560
Speaker 3: legal woes. This week, Trump's been appearing in a New

36
00:01:43,640 --> 00:01:46,120
Speaker 3: York City courtroom for the civil case accusing him of

37
00:01:46,160 --> 00:01:49,040
Speaker 3: overstating his asset values and lying about his wealth, and

38
00:01:49,120 --> 00:01:52,720
Speaker 3: he blasted New York Attorney General Letitia James. I'm stuck

39
00:01:52,840 --> 00:01:53,640
Speaker 3: here because.

40
00:01:53,400 --> 00:01:57,320
Speaker 6: I have a prewept attorney General that intermmunicates with the

41
00:01:57,440 --> 00:02:00,520
Speaker 6: DK in Washington to keep me nice and miss an.

42
00:02:00,520 --> 00:02:03,200
Speaker 3: Attorney General James is firing back at Trump.

43
00:02:03,760 --> 00:02:07,400
Speaker 7: This case was brought simply because it was a case

44
00:02:07,440 --> 00:02:11,760
Speaker 7: where individuals have engaged in a patent and practice of fraud.

45
00:02:12,000 --> 00:02:15,000
Speaker 7: And I will not sit idly by and allow anyone

46
00:02:15,040 --> 00:02:20,079
Speaker 7: to subvert the law. And lastly, I will not be bullied.

47
00:02:21,160 --> 00:02:23,160
Speaker 7: And so mister Trump is no longer here. That Donald

48
00:02:23,200 --> 00:02:25,920
Speaker 7: Trump show is over. This was nothing more than a

49
00:02:25,960 --> 00:02:26,960
Speaker 7: political stunt.

50
00:02:27,639 --> 00:02:30,880
Speaker 3: New York Attorney General Letitia James accuses the former president

51
00:02:30,919 --> 00:02:33,639
Speaker 3: of inflating his assets by billions of dollars a year

52
00:02:33,680 --> 00:02:35,360
Speaker 3: to dupe banks and insurers.

53
00:02:35,800 --> 00:02:38,079
Speaker 2: Well staying in New York, Nathan. The trial of FTX

54
00:02:38,120 --> 00:02:41,480
Speaker 2: founder Sam Bankman Freed is underway, with the spotlight already

55
00:02:41,520 --> 00:02:43,920
Speaker 2: on those closest to him and Bloomberg, and Alli Bosik

56
00:02:44,040 --> 00:02:44,960
Speaker 2: is covering the case.

57
00:02:45,280 --> 00:02:49,160
Speaker 8: Over the six week trial. Dozens of high profile testimonies

58
00:02:49,200 --> 00:02:53,600
Speaker 8: will include Caroline Ellison, Bankman Freed's former girlfriend, and investor

59
00:02:53,680 --> 00:02:57,160
Speaker 8: Anthony Scaramucci, whose firm had taken money from Bankman Freed's firm.

60
00:02:57,560 --> 00:02:59,880
Speaker 8: They are expected to testify with dozens of others, and

61
00:03:00,080 --> 00:03:02,600
Speaker 8: the defense still says working at a startup is like

62
00:03:02,680 --> 00:03:05,600
Speaker 8: building a plane as you're flying it, and that no

63
00:03:05,680 --> 00:03:08,799
Speaker 8: one CEO or person can be everywhere all managing such

64
00:03:08,800 --> 00:03:12,280
Speaker 8: a fast rising firm. Remember, FTX had almost six million

65
00:03:12,320 --> 00:03:15,600
Speaker 8: customers at its peak. Bankman Freed may spend most of

66
00:03:15,639 --> 00:03:17,840
Speaker 8: his life in prison if found guilty.

67
00:03:18,240 --> 00:03:21,799
Speaker 2: Bloombercanelli Bosik says, bankmin Freed is accused of using billions

68
00:03:21,800 --> 00:03:25,680
Speaker 2: of dollars in customer deposits at FTX for speculative trading,

69
00:03:25,919 --> 00:03:29,440
Speaker 2: as well as for luxury real estate and for political contributions.

70
00:03:29,600 --> 00:03:31,600
Speaker 3: All right, Karen, Let's move west to legal news out

71
00:03:31,639 --> 00:03:35,480
Speaker 3: of California. Private testimony in the Justice Department's lawsuit against

72
00:03:35,560 --> 00:03:38,640
Speaker 3: Google will be released later this week. Bloomberg's at Baxter

73
00:03:38,760 --> 00:03:39,400
Speaker 3: has the story.

74
00:03:39,600 --> 00:03:42,360
Speaker 9: The judge has the testimony from behind closed doors of

75
00:03:42,400 --> 00:03:46,280
Speaker 9: the CEOs of Apple and search engine Duck duck Go

76
00:03:46,600 --> 00:03:49,240
Speaker 9: cut to the heart of the anti trust suit. Sources

77
00:03:49,280 --> 00:03:51,800
Speaker 9: say the two held discussions to have duck doc Go

78
00:03:52,360 --> 00:03:55,960
Speaker 9: replace Google and the private mode of Apple Safari browser,

79
00:03:56,000 --> 00:03:59,200
Speaker 9: but that Google used its size and its wealth to

80
00:03:59,240 --> 00:04:02,240
Speaker 9: pay billions of dollars to keep Google in play. It

81
00:04:02,400 --> 00:04:05,640
Speaker 9: is expected the information will be released later this week.

82
00:04:06,160 --> 00:04:09,040
Speaker 9: In San Francisco, I'm at Baxter Bloomberg Radio.

83
00:04:09,200 --> 00:04:12,160
Speaker 2: Right and thanks Will. Staying in California. There's some optimism

84
00:04:12,200 --> 00:04:15,280
Speaker 2: over the Hollywood actors strike. Both the union that represents

85
00:04:15,280 --> 00:04:18,800
Speaker 2: the actors and the Association of Motion Picture and Television Producers,

86
00:04:19,000 --> 00:04:22,000
Speaker 2: which represents Hollywood studios, have met for a full day

87
00:04:22,000 --> 00:04:25,039
Speaker 2: of negotiations. Talks are scheduled to continue tomorrow.

88
00:04:25,279 --> 00:04:28,080
Speaker 3: Turning to markets now, the route in treasuries that sent

89
00:04:28,160 --> 00:04:31,640
Speaker 3: shock waves through the global bond market appears to have subsided,

90
00:04:31,680 --> 00:04:35,320
Speaker 3: but still Barclay says global bonds are doomed to keep

91
00:04:35,360 --> 00:04:38,919
Speaker 3: falling unless it sustained slump inequities revives the appeal of

92
00:04:38,960 --> 00:04:42,560
Speaker 3: fixed income assets. Bill Gross, co founder of PIMCO, says

93
00:04:42,600 --> 00:04:45,080
Speaker 3: the bond market is quote a little over sold. In

94
00:04:45,120 --> 00:04:48,280
Speaker 3: an interview with Bloomberg, Gross also took aim at retail investors,

95
00:04:48,320 --> 00:04:50,560
Speaker 3: saying they've helped us scare the market by acting as

96
00:04:50,640 --> 00:04:52,560
Speaker 3: quote little bond vigilantes.

97
00:04:53,000 --> 00:04:56,880
Speaker 10: They've been spooked over the last week or so by

98
00:04:57,200 --> 00:05:00,680
Speaker 10: declines of two, three, four, five percent in their and

99
00:05:00,760 --> 00:05:04,240
Speaker 10: so I think they're joining the crowd in terms of selling.

100
00:05:04,440 --> 00:05:06,600
Speaker 10: And you know we're seeing a little bit of an

101
00:05:06,640 --> 00:05:09,440
Speaker 10: oversoul market here headed to five percent.

102
00:05:09,240 --> 00:05:11,400
Speaker 3: And you can hear our full conversation with Bill Gross

103
00:05:11,400 --> 00:05:12,880
Speaker 3: on the Bloomberg Talks podcast.

104
00:05:13,279 --> 00:05:13,440
Speaker 4: Well.

105
00:05:13,480 --> 00:05:16,120
Speaker 2: In corporate news, Nathan shares a Clorox are down almost

106
00:05:16,160 --> 00:05:18,839
Speaker 2: five percent this morning. The cleaning products maker is still

107
00:05:18,880 --> 00:05:22,120
Speaker 2: reeling from a cyber attack that diserupted production. Now it's

108
00:05:22,160 --> 00:05:24,960
Speaker 2: forecasting a sales decline of as much as twenty eight percent.

109
00:05:25,320 --> 00:05:28,240
Speaker 2: Prior to the attack, Chlorax had been expecting mid single

110
00:05:28,320 --> 00:05:30,240
Speaker 2: digit organic sales growth in the quarter.

111
00:05:30,560 --> 00:05:33,120
Speaker 3: Man AT and T's exploring options for its multi billion

112
00:05:33,160 --> 00:05:35,800
Speaker 3: dollar stake in Direct TV. AT and T Co owns

113
00:05:35,839 --> 00:05:38,880
Speaker 3: the PayTV provider with private equity firm TPG.

114
00:05:42,920 --> 00:05:44,600
Speaker 2: Nathan, thanks time now for a look at some of

115
00:05:44,600 --> 00:05:46,640
Speaker 2: the other stories making news around the world. For that,

116
00:05:46,680 --> 00:05:50,240
Speaker 2: we're joined by Bloomberg's John Tucker. John, Good morning, Yeah, Good.

117
00:05:50,120 --> 00:05:53,599
Speaker 11: Morning, Karen. A notorious group of hackers blamed for recent

118
00:05:53,680 --> 00:05:57,719
Speaker 11: breaches on major casino companies is also suspected of being

119
00:05:57,760 --> 00:06:01,400
Speaker 11: behind that recent cyber attack against Clorox that we just

120
00:06:01,440 --> 00:06:03,960
Speaker 11: heard about. Let's find out more on the attack from

121
00:06:03,960 --> 00:06:05,320
Speaker 11: Bloomberg's Charlie Pennett.

122
00:06:05,560 --> 00:06:10,120
Speaker 12: Sources tell Bloomberg officials suspect that Scattered Spider is responsible

123
00:06:10,200 --> 00:06:14,560
Speaker 12: for a breach that Clorox first disclosed in August. Bloomberg

124
00:06:14,600 --> 00:06:17,839
Speaker 12: News has previously reported that the same group, known for

125
00:06:17,920 --> 00:06:21,760
Speaker 12: its so called social engineering tactics, was tied to attacks

126
00:06:21,800 --> 00:06:26,479
Speaker 12: on Caesar's Entertainment an MGM Resorts International in recent weeks.

127
00:06:26,760 --> 00:06:30,440
Speaker 12: Scattered Spider hackers specialize in targeting call centers and it

128
00:06:30,760 --> 00:06:35,440
Speaker 12: help desks, impersonating employees to trick support staff into coughing

129
00:06:35,520 --> 00:06:39,159
Speaker 12: up information to gain access to accounts. In New York,

130
00:06:39,320 --> 00:06:40,839
Speaker 12: Charlie Pellett Bloomberg.

131
00:06:40,560 --> 00:06:44,320
Speaker 11: Radio, President Biden detailed nine billion dollars a new student

132
00:06:44,400 --> 00:06:46,960
Speaker 11: loan relief, saying it would provide a boost to the

133
00:06:47,080 --> 00:06:47,880
Speaker 11: US economy.

134
00:06:48,040 --> 00:06:52,000
Speaker 5: I've three millions of Americans from the crushing burden studentetamies.

135
00:06:52,040 --> 00:06:54,919
Speaker 5: They can go and get their lives in order. They

136
00:06:55,000 --> 00:06:57,600
Speaker 5: can think about buying a house, they can start a business,

137
00:06:57,680 --> 00:06:59,120
Speaker 5: they can be starting a family.

138
00:06:59,279 --> 00:07:02,359
Speaker 11: The Administrator's latest steps will bring relief for one hundred

139
00:07:02,360 --> 00:07:06,080
Speaker 11: and twenty five thousand borrowers through changes to programs intended

140
00:07:06,120 --> 00:07:10,239
Speaker 11: to aid public servants, Americans with disabilities, and low income

141
00:07:10,880 --> 00:07:13,760
Speaker 11: Ukraine says air defense forces down twenty four to twenty

142
00:07:13,840 --> 00:07:17,480
Speaker 11: nine drones launched by Russia from Crimea to attack southern

143
00:07:17,480 --> 00:07:20,920
Speaker 11: and central regions of the nation. Meantime, Turkey preparing to

144
00:07:20,960 --> 00:07:24,960
Speaker 11: host a third international gathering of national security advisors working

145
00:07:25,000 --> 00:07:27,440
Speaker 11: to build support for a peace summit that Ukraine wants

146
00:07:27,480 --> 00:07:31,120
Speaker 11: to hold this year. Secretary State Anthony Blinken and other

147
00:07:31,280 --> 00:07:34,400
Speaker 11: top officials from the Biden administration are in Mexico the

148
00:07:34,560 --> 00:07:38,880
Speaker 11: discussing shared security issues. Latest round of talks brings together Blincoln,

149
00:07:39,160 --> 00:07:43,120
Speaker 11: the Attorney General Merrick Garland, and the Homeland Security Secretary

150
00:07:43,200 --> 00:07:48,240
Speaker 11: Alejandro Maiorcis, among others. And Dubai has cemented its status

151
00:07:48,280 --> 00:07:52,360
Speaker 11: as the world's busiest market for luxury homes, with buyers

152
00:07:52,360 --> 00:07:55,920
Speaker 11: pouring one point five nine billion dollars into high end

153
00:07:55,960 --> 00:07:59,360
Speaker 11: properties during the third quarter. The property consultant Knight franks

154
00:07:59,360 --> 00:08:01,960
Speaker 11: as the number of sales for homes where ten million

155
00:08:02,000 --> 00:08:05,240
Speaker 11: dollars or more reached a record two hundred and seventy seven,

156
00:08:05,560 --> 00:08:08,320
Speaker 11: putting the emmert firmly ahead of cities like New York.

157
00:08:08,720 --> 00:08:11,280
Speaker 11: Global News twenty four hours a day, Power Blind more

158
00:08:11,320 --> 00:08:14,000
Speaker 11: than twenty seven hundred journalist and analysts in more than

159
00:08:14,040 --> 00:08:17,320
Speaker 11: one hundred twenty countries. I'm John Tucker, and this is Bloomberg.

160
00:08:17,400 --> 00:08:18,320
Speaker 3: Karen right, John.

161
00:08:18,360 --> 00:08:20,280
Speaker 2: Thanks. So we bring you news throughout the day here

162
00:08:20,320 --> 00:08:23,160
Speaker 2: on Bloomberg Radio. But now you can get the latest

163
00:08:23,160 --> 00:08:27,240
Speaker 2: news on demand whenever you wanted. Subscribe to Bloomberg News

164
00:08:27,280 --> 00:08:29,360
Speaker 2: Now to get the latest headlines at the click of

165
00:08:29,400 --> 00:08:32,320
Speaker 2: a button. Get informed on your schedule. You can listen

166
00:08:32,400 --> 00:08:35,600
Speaker 2: and subscribe to Bloomberg News Now on the Bloomberg Business app,

167
00:08:35,600 --> 00:08:39,480
Speaker 2: Bloomberg dot Com, plus apples, Spotify, and anywhere else you

168
00:08:39,520 --> 00:08:47,000
Speaker 2: get your podcasts. Time now for the Bloomberg Sports Update,

169
00:08:47,040 --> 00:08:48,280
Speaker 2: and here's John stash Hour.

170
00:08:48,400 --> 00:08:50,680
Speaker 13: John here, and they played best of three in the

171
00:08:50,720 --> 00:08:54,040
Speaker 13: Wildcard series and all four teams who won Game one

172
00:08:54,280 --> 00:08:57,360
Speaker 13: also won Game two, so all four series are over

173
00:08:57,559 --> 00:09:00,559
Speaker 13: in Swedes. That includes the Texas Rangers hadn't won a

174
00:09:00,600 --> 00:09:04,400
Speaker 13: postseason series since twenty eleven. They won seven to one

175
00:09:04,440 --> 00:09:06,960
Speaker 13: at Tampa Bay behind the pitching of Nathan Avaldi. They

176
00:09:06,960 --> 00:09:11,000
Speaker 13: outscored the Rays of the series eleven to one. Minnesota

177
00:09:11,320 --> 00:09:14,200
Speaker 13: moves on beating Toronto two to nothing, so the Blue

178
00:09:14,240 --> 00:09:16,800
Speaker 13: Jays only scored one run in the series. Sonny Gray

179
00:09:16,800 --> 00:09:19,280
Speaker 13: and five believers teaming on the shutout, and the Twins

180
00:09:19,320 --> 00:09:23,160
Speaker 13: get their first postseason series victory since two thousand and two.

181
00:09:23,240 --> 00:09:26,800
Speaker 13: In Game one, Arizona in Milwaukee trailed three nothing came

182
00:09:26,800 --> 00:09:29,320
Speaker 13: back to win sixty three. In Game two, Diamond back

183
00:09:29,360 --> 00:09:31,960
Speaker 13: to were down two nothing, won the game five to

184
00:09:32,040 --> 00:09:34,800
Speaker 13: two behind Zach Gallon, who was a seventeen game winner

185
00:09:34,840 --> 00:09:37,559
Speaker 13: in the regular season. In the Phillies beat the Marlins

186
00:09:37,600 --> 00:09:40,240
Speaker 13: seven to one. Aaron Nola went sevents, did not allow

187
00:09:40,240 --> 00:09:43,800
Speaker 13: a run only three hits. The division series begin on Saturday.

188
00:09:44,160 --> 00:09:47,200
Speaker 13: Texas will be in Baltimore, Minnesota will be in Houston,

189
00:09:47,600 --> 00:09:50,200
Speaker 13: Arizona will go to Los Angeles to play the Dodgers,

190
00:09:50,240 --> 00:09:53,520
Speaker 13: and the Phillies will be in Atlanta, NFL. A couple

191
00:09:53,520 --> 00:09:56,160
Speaker 13: of players who signed as free agents just a year

192
00:09:56,200 --> 00:09:59,400
Speaker 13: ago no longer with those teams. The Chargers have traded

193
00:09:59,400 --> 00:10:02,120
Speaker 13: in cornerback J. C. Jackson. He goes back to New England,

194
00:10:02,120 --> 00:10:03,840
Speaker 13: where he spent four years in one of Super Bowl

195
00:10:03,880 --> 00:10:06,800
Speaker 13: and was an All Pro, and Denver released pass rusher

196
00:10:06,920 --> 00:10:10,600
Speaker 13: Randy Gregory, he had formerly been with Dallas. The twenty

197
00:10:10,720 --> 00:10:12,840
Speaker 13: thirty World Cup is expected to take place for the

198
00:10:12,880 --> 00:10:15,800
Speaker 13: most part in Morocco, Spain, and Portugal, but also in

199
00:10:15,880 --> 00:10:19,120
Speaker 13: three other nations. John stashiew were Bloomberg.

200
00:10:18,720 --> 00:10:24,880
Speaker 6: Sports from coast to coast, from New York to San Francisco,

201
00:10:25,200 --> 00:10:30,520
Speaker 6: Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app,

202
00:10:30,520 --> 00:10:34,040
Speaker 6: and Bloomberg dot Com. This is Bloomberg Daybreak.

203
00:10:35,280 --> 00:10:38,880
Speaker 3: Good morning. I'm Nathan Hager. Republican Congressman Matt Gates of

204
00:10:38,920 --> 00:10:43,120
Speaker 3: Florida says he backs speakership bids by both representatives, Steve

205
00:10:43,160 --> 00:10:46,960
Speaker 3: Scalise and Jim Jordan. Gates tells Bloomberg's Joe Matthew and

206
00:10:46,960 --> 00:10:49,920
Speaker 3: Amrie Horder, and the person isn't as important as the

207
00:10:50,000 --> 00:10:51,959
Speaker 3: plan to cut government spending.

208
00:10:52,640 --> 00:10:54,880
Speaker 4: I'm for both of them right now. I'm eager to

209
00:10:54,880 --> 00:10:57,360
Speaker 4: hear their plans and their vision. But if the House

210
00:10:57,400 --> 00:11:00,960
Speaker 4: of Representatives goes from the stewardship of Kevin McCarthy to

211
00:11:01,080 --> 00:11:04,440
Speaker 4: either the stewardship of Jim Jordan or Steve Scalise, that's

212
00:11:04,480 --> 00:11:07,200
Speaker 4: going to come to the delight of many Conservatives and

213
00:11:07,240 --> 00:11:10,480
Speaker 4: certainly many of the Floridians that I represent. But it's

214
00:11:10,520 --> 00:11:13,440
Speaker 4: not just about the person. Both of these folks are

215
00:11:13,440 --> 00:11:16,360
Speaker 4: honorable man it's about the plan they have to reduce spending.

216
00:11:16,520 --> 00:11:18,960
Speaker 4: We sit a top of thirty three trillion dollar debt,

217
00:11:19,080 --> 00:11:22,480
Speaker 4: We're facing two trillion dollar plus annual deficits, and I

218
00:11:22,559 --> 00:11:26,040
Speaker 4: am worried about global dedollarization. I see what's going on

219
00:11:26,120 --> 00:11:28,400
Speaker 4: in the African Union where more of those countries are

220
00:11:28,440 --> 00:11:32,199
Speaker 4: using local currency when they're selling natural resources. I look

221
00:11:32,280 --> 00:11:34,560
Speaker 4: to a lot of the golf monarchies and energy producers

222
00:11:34,600 --> 00:11:36,560
Speaker 4: in the Middle East that are moving away from the

223
00:11:36,600 --> 00:11:38,760
Speaker 4: dollar and toward the One matter of fact, the United

224
00:11:38,920 --> 00:11:43,000
Speaker 4: Arab Emirates, Saudi Arabia and Iran just in August joined

225
00:11:43,040 --> 00:11:46,440
Speaker 4: the bricks system, the Brazil, Russia, India, China, South Africa

226
00:11:46,480 --> 00:11:50,640
Speaker 4: system to de dollarize. That with the latest Reuters survey

227
00:11:50,720 --> 00:11:53,400
Speaker 4: showing that economic analysts now believe that in twenty twenty

228
00:11:53,480 --> 00:11:55,400
Speaker 4: four you're really going to see a cooling off of

229
00:11:55,440 --> 00:11:57,560
Speaker 4: the dollar. So I believe we have done a lot

230
00:11:57,559 --> 00:11:59,080
Speaker 4: of creating stale plant.

231
00:11:59,200 --> 00:12:02,240
Speaker 14: A lot of critics do say that an expansion of bricks, though,

232
00:12:02,520 --> 00:12:05,640
Speaker 14: means it actually dilutes it. They cannot coalesce around anything,

233
00:12:05,679 --> 00:12:08,440
Speaker 14: and that actually helps the fact that the dollar remain

234
00:12:08,880 --> 00:12:13,160
Speaker 14: the primacy currency on the global stage.

235
00:12:12,840 --> 00:12:13,840
Speaker 3: I wonder.

236
00:12:14,120 --> 00:12:17,480
Speaker 4: I think that that is not a linear progression, right,

237
00:12:17,559 --> 00:12:22,120
Speaker 4: because as bricks becomes more institutionalized, you could see more

238
00:12:22,160 --> 00:12:24,760
Speaker 4: and more good. I mean, the real worry about bricks

239
00:12:24,800 --> 00:12:27,800
Speaker 4: is the movement of natural resources outside of the dollar

240
00:12:27,960 --> 00:12:30,840
Speaker 4: as the Global South continues to develop and pack an

241
00:12:30,880 --> 00:12:33,880
Speaker 4: even larger punch in the economy. You know, I think

242
00:12:33,880 --> 00:12:36,560
Speaker 4: that the downgrade from Fitch was largely driven by the

243
00:12:36,600 --> 00:12:39,280
Speaker 4: fact that there's no real backstop to spending. So here's

244
00:12:39,280 --> 00:12:41,360
Speaker 4: what we need, no matter who's the speaker. We need

245
00:12:41,400 --> 00:12:43,600
Speaker 4: a top line budget that at least in the House

246
00:12:43,600 --> 00:12:46,440
Speaker 4: of Representatives, returns to pre COVID spending levels. And then

247
00:12:46,480 --> 00:12:48,360
Speaker 4: we need to be able to have single subject spending

248
00:12:48,400 --> 00:12:52,480
Speaker 4: bills with open amendments, to have programmatic review of agency spending.

249
00:12:52,760 --> 00:12:54,480
Speaker 15: Well, Congress, well let's talk a little bit about what

250
00:12:54,559 --> 00:12:57,680
Speaker 15: just happened. Nobody's ever done this before. It was history

251
00:12:57,720 --> 00:13:01,240
Speaker 15: making the ouster of the speaker. We're told that you

252
00:13:01,240 --> 00:13:03,880
Speaker 15: are the least popular man in the House of Representatives,

253
00:13:03,960 --> 00:13:06,959
Speaker 15: or at least to the Republican Conference. In fact, just yesterday,

254
00:13:06,960 --> 00:13:10,360
Speaker 15: your Republican colleague from New York, Mike Lawler, suggested violence

255
00:13:10,400 --> 00:13:14,160
Speaker 15: against you in an interview right around this time yesterday.

256
00:13:14,520 --> 00:13:16,559
Speaker 15: I'd love for you to hear what he said.

257
00:13:16,520 --> 00:13:18,520
Speaker 3: And have you respond. Here's mister Lawler.

258
00:13:19,160 --> 00:13:21,160
Speaker 16: The only thing that I would have done differently is

259
00:13:21,240 --> 00:13:26,439
Speaker 16: flung it in the direction of one person. Look, he

260
00:13:26,520 --> 00:13:33,760
Speaker 16: absolutely epitomized the frustrations of the conference and the American people.

261
00:13:33,920 --> 00:13:36,040
Speaker 11: Is that person we need to get?

262
00:13:37,120 --> 00:13:37,240
Speaker 2: Oh?

263
00:13:37,360 --> 00:13:39,240
Speaker 16: Yeah, I would have hit him square between the eyes.

264
00:13:39,360 --> 00:13:41,000
Speaker 15: Who's going to hitch a square between the eyes with

265
00:13:41,040 --> 00:13:44,800
Speaker 15: the speaker's gavel? He was suggesting, Congressman, do you expect

266
00:13:44,800 --> 00:13:46,800
Speaker 15: to be expelled from the Republican Conference?

267
00:13:47,720 --> 00:13:47,920
Speaker 7: Oh?

268
00:13:48,200 --> 00:13:51,120
Speaker 4: I don't know. I think that that was a very

269
00:13:51,160 --> 00:13:53,880
Speaker 4: frustrated person who's having to come to grips with the

270
00:13:53,880 --> 00:13:56,520
Speaker 4: stages of grief. My mission is to ensure that the

271
00:13:56,520 --> 00:13:59,720
Speaker 4: House of Representatives runs better because the way we've been

272
00:13:59,800 --> 00:14:03,560
Speaker 4: right Washington, d C. For the last thirty years has

273
00:14:03,640 --> 00:14:05,920
Speaker 4: led us to a point where no one is really

274
00:14:05,960 --> 00:14:09,120
Speaker 4: responsible for the spending. We are backed up against shut

275
00:14:09,200 --> 00:14:12,760
Speaker 4: down politics. We are governed by crisis, and the biggest

276
00:14:12,760 --> 00:14:15,520
Speaker 4: problem is lawmakers have to take one up or down

277
00:14:15,600 --> 00:14:19,160
Speaker 4: vote on continuing resolutions and omnibus bills to either fund

278
00:14:19,320 --> 00:14:23,160
Speaker 4: or not fund the entire government that truncates the type

279
00:14:23,200 --> 00:14:27,480
Speaker 4: of thoughtful and serious analysis that we have to apply

280
00:14:27,560 --> 00:14:29,560
Speaker 4: to how the federal dollar is being spent at a

281
00:14:29,600 --> 00:14:32,320
Speaker 4: time like this. So I'm not much for political violence.

282
00:14:32,400 --> 00:14:34,960
Speaker 4: I don't want to hit anybody. If Mike Lawler comes

283
00:14:35,000 --> 00:14:37,400
Speaker 4: at me with a gavel, I'm not entirely sure that

284
00:14:37,440 --> 00:14:39,760
Speaker 4: would concern me. But that's not the direction I think

285
00:14:39,760 --> 00:14:41,120
Speaker 4: we ought to go. I think we ought to maybe

286
00:14:41,360 --> 00:14:44,000
Speaker 4: craft a budget before an attack strategy.

287
00:14:45,240 --> 00:14:47,880
Speaker 15: Well, you know, Kevin McCarthy says this was personal. He

288
00:14:48,000 --> 00:14:51,880
Speaker 15: spoke about this at length yesterday that he's seen texts,

289
00:14:51,920 --> 00:14:55,520
Speaker 15: he said involving an ethics probe against you. Congressman, what

290
00:14:55,600 --> 00:14:59,040
Speaker 15: do you know about the status of this investigation?

291
00:14:59,120 --> 00:15:00,840
Speaker 3: Have you been called to a peer personally?

292
00:15:01,720 --> 00:15:04,640
Speaker 4: No, I haven't. I've answered all the questions I've been asked,

293
00:15:04,640 --> 00:15:07,480
Speaker 4: and I am the most investigated man in the United

294
00:15:07,480 --> 00:15:11,040
Speaker 4: States Congress. I have been cleared by the FBI, the DOJ,

295
00:15:11,360 --> 00:15:14,040
Speaker 4: the Federal Elections Commission had a five to zero vote

296
00:15:14,080 --> 00:15:16,720
Speaker 4: to clear me, and the people who told vicious lies

297
00:15:16,760 --> 00:15:19,960
Speaker 4: about me two years ago are now sitting in federal

298
00:15:20,000 --> 00:15:23,240
Speaker 4: prison for being part of a criminal fraud scheme to

299
00:15:23,320 --> 00:15:27,000
Speaker 4: shake down my family, so I don't fear any investigation.

300
00:15:27,160 --> 00:15:29,840
Speaker 4: I have never asked Kevin McCarthy to assist me in

301
00:15:29,840 --> 00:15:34,119
Speaker 4: that matter. And sometimes people try to make policy failures

302
00:15:34,160 --> 00:15:38,480
Speaker 4: personal because those failures are so personally embarrassing to them.

303
00:15:38,760 --> 00:15:41,600
Speaker 4: So when Keviny McCarthy talks about this conflict being personal,

304
00:15:41,760 --> 00:15:44,960
Speaker 4: I think it's more projection than a sober analysis of

305
00:15:45,000 --> 00:15:45,840
Speaker 4: where the house stands.

306
00:15:48,160 --> 00:15:51,080
Speaker 1: This is Bloomberg day Break Today, your morning brief on

307
00:15:51,120 --> 00:15:54,680
Speaker 1: the stories making news from Wall Street to Washington and beyond.

308
00:15:54,960 --> 00:15:57,720
Speaker 2: Look for us on your podcast feed at six am

309
00:15:57,800 --> 00:16:01,720
Speaker 2: Eastern each morning, on apples and anywhere else you get

310
00:16:01,720 --> 00:16:02,560
Speaker 2: your podcasts.

311
00:16:02,800 --> 00:16:05,520
Speaker 1: You can also listen live each morning starting at five

312
00:16:05,560 --> 00:16:08,120
Speaker 1: am Wall Street time on Bloomberg eleven three to zero

313
00:16:08,200 --> 00:16:11,640
Speaker 1: in New York, Bloomberg ninety nine one in Washington, Bloomberg

314
00:16:11,680 --> 00:16:14,680
Speaker 1: one oh sixty one in Boston, and Bloomberg ninety sixty

315
00:16:14,840 --> 00:16:15,800
Speaker 1: in San Francisco.

316
00:16:16,160 --> 00:16:19,320
Speaker 2: Our flagship New York station is also available on your

317
00:16:19,360 --> 00:16:24,440
Speaker 2: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty.

318
00:16:24,480 --> 00:16:27,360
Speaker 1: Plus listen coast to coast on the Bloomberg Business app

319
00:16:27,440 --> 00:16:31,320
Speaker 1: serious XM Channel one nineteen. The iHeartRadio app and on

320
00:16:31,400 --> 00:16:33,800
Speaker 1: Bloomberg dot Com. I'm Nathan Hager.

321
00:16:33,680 --> 00:16:34,960
Speaker 3: And I'm Karen Moscow.

322
00:16:35,080 --> 00:16:37,840
Speaker 2: Join us again tomorrow morning for all the news you

323
00:16:37,960 --> 00:16:41,160
Speaker 2: need to start your day, right here on Bloomberg Daybreak