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Speaker 1: Why from our nation's camera la President Joe Biden's one

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Speaker 1: point nine trillion dollar pandemic relief package. We're not going

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Speaker 1: to hear any more about Operation Warp Speed. They're gonna

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Speaker 1: be calling it the COVID response. We're talking right now

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Speaker 1: about jockeying amongst Republicans. Bloomberg Sound On, the insiders, the influencers,

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Speaker 1: the inside. Biding has promised again and again it able

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Speaker 1: to unite the country. Who do you think Biden has

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Speaker 1: to watch in terms of moderate defectors. The House has

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Speaker 1: been voting for this stimulus package basically for months. This

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Speaker 1: is Bloomberg Sound On with Kevin Shirley on Bloomberg Radio,

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Speaker 1: Impeachment day two. And meanwhile, Mitch McConnell signals that a

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Speaker 1: Trump conviction would be a GOP conscience vote. Vote your

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Speaker 1: conscience is what Leader McConnell now is telling the Republican

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Speaker 1: caucus a lot to get through. I gotta be honest, folks,

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Speaker 1: I'm a little speechless right now because a colleague of

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Speaker 1: mine and and a produced are on the program. Matthew Shirley,

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Speaker 1: who's uh as part of the sound On family here

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Speaker 1: on Bloomberg Radio, is in the office socially distance, of course,

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Speaker 1: but I was not expecting to see one of my

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Speaker 1: indefatigable teammates, Christine Barratto, when you're coming in and I

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Speaker 1: am a little bit speechless. So I you know, it's

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Speaker 1: awkward to be speechless on a radio show. But it's

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Speaker 1: great to have Matt in the office. It's it's a

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Speaker 1: lonely office here in these socially distant times. Enough of that.

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Speaker 1: I'm Kevin CURRELLI Chief Washington correspondent for Bloomberg Television and

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Speaker 1: for Bloomberg Radio. We begin tonight, of course, with day

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Speaker 1: two of the impeachment trial against former President Donald Trump

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Speaker 1: uh and and the testimony on Capitol Hill from the

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Speaker 1: first of two days of Democratic House managers making their

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Speaker 1: case against the former president. I've got sounds on this

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Speaker 1: from Congressman Jamie Raskin, a Democrat from Michigan, who is

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Speaker 1: the lead House impeachment manager, and he kicked off the

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Speaker 1: proceedings today. Take a list of It makes no difference

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Speaker 1: what the ideological content of the mob was. And if

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Speaker 1: we license and forgive incitement to violent insurruction by militant

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Speaker 1: Trump followers this week, you can be sure there will

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Speaker 1: be a whole bunch of new ideological flavors coming soon. Meanwhile,

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Speaker 1: House Impeachment Manager Joe Nagus of Colorado outlined the actions

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Speaker 1: of President Trump before and on January six, then says

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Speaker 1: that the president, the former president now didn't want to

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Speaker 1: stop his supporters who were engaged in the capital siege.

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Speaker 1: Here's the sound on that. If as soon as this

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Speaker 1: had started, President Trump had simply gone on to TV,

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Speaker 1: just logged onto Twitter and said stop the attack. If

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Speaker 1: he had done so with even half as much force

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Speaker 1: as he said stop the steel, how many lives would

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Speaker 1: we have saved. The Republican response has been largely critical

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Speaker 1: of the Democrats and the argument that they are making.

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Speaker 1: Senator Tim Scott, a Republican from South Carolina, said earlier

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Speaker 1: today on Fox News that he believed it was nothing

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Speaker 1: more than political theater, and Senator Mike Brawn, a Republican

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Speaker 1: from Indiana, noted that it would take seventeen Republican senators

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Speaker 1: who would have to side with Democrats in order to

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Speaker 1: convict Trump. Here sound on that from Senator Braun. After that,

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Speaker 1: when you had one senator and then changed a point

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Speaker 1: of view, I think that's uh says a lot so

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Speaker 1: I think that pretty well fixes in place what you

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Speaker 1: might see as the eventual outcome. He was alluding to

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Speaker 1: Senator Bill Cassidy, a Republican who last evening switched his

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Speaker 1: thoughts on whether or not the Constitution, whether or not

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Speaker 1: the trial itself that they are conducting is constitutional. A Senator,

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Speaker 1: Cassidy was one of seven Republican senators who voted that

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Speaker 1: it was in fact constitutional, joining with the Democrats, and

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Speaker 1: the trial again continues. Most folks expect that that final

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Speaker 1: vote again a long shot that former President Trump will

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Speaker 1: be convicted. Uh, will happen early, ear Lee. Uh. Next week,

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Speaker 1: let's bring in the all star panel Jeannie Shann Zano,

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Speaker 1: a Bloomberg Politics contributor, and George c a CEO of

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Speaker 1: Annandale Capital, Texas businessman and a former senior advisor to

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Speaker 1: Marco Rubio's sixteen presidential campaign. He has also served at

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Speaker 1: the State's Department as well, and we're thrilled to have

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Speaker 1: him back on the program. George, I'll start with you,

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Speaker 1: because the divide right now and the focus on the

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Speaker 1: impeachment is really a reconciliation, so to speak, for the

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Speaker 1: future of the Republican Party. What are your Republican sources

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Speaker 1: telling you in Texas in the business community in particular,

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Speaker 1: about where the Republican Party goes post impeachment round two. Well, Hi, Kevin,

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Speaker 1: I think that's a good line of inquiry, and it's

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Speaker 1: it's fitting in terms of being outside of the swamp

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Speaker 1: fever lands and the highly partisan blue centers of the

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Speaker 1: to be fair, but down down here in Texas were

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Speaker 1: more focused on the accou to me and getting things

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Speaker 1: started up, and getting past the pandemic and getting people

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Speaker 1: vaccinated who are most at risk, and China and Russia

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Speaker 1: and North Korea and some of these major issues that

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Speaker 1: really affect the country. And I would disagree with Republicans

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Speaker 1: that say this is all politics. This is really serious business.

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Speaker 1: But what I would agree with Republicans on is that

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Speaker 1: this is going to amount to a bunch of nothing.

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Speaker 1: He's already been impeached once before. He's not going to

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Speaker 1: be convicted. They're not gonna get sixty seven votes to

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Speaker 1: convict him on this, And I think it's it's really

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Speaker 1: a waste of the people's time and money. I don't

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Speaker 1: think it's gonna amount to anything substantive at all. But

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Speaker 1: it will play out as it will play out. You know.

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Speaker 1: Let me follow up here before Jeanie and I talk

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Speaker 1: about this, But do you think that the vote on

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Speaker 1: Sunday or Monday, whenever it ultimately comes down. And again, folks,

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Speaker 1: in terms of the process, Democrats are going to wrap

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Speaker 1: up their case tomorrow and then the Republicans are the

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Speaker 1: rather President Trump's defense will have eight hours and then

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Speaker 1: they'll have that final vote. But do you think that

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Speaker 1: if a Republican votes to convict that that is a

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Speaker 1: bad vote in the sense that the Republican party in

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Speaker 1: his or her state would revolt against them. I think

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Speaker 1: it depends on the state. I think somebody like Ben

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Speaker 1: of things. But if if a Senator from Texas voted

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Speaker 1: to convict, or a Senator in South Dakota voted to convict,

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Speaker 1: I think there would be political ramifications. I think it's

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Speaker 1: a state by state consideration, and I think the politics

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Speaker 1: are less important than the fact that something terrible happened

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Speaker 1: on January six, and we all would acknowledge that. And

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Speaker 1: I think, you know, people who want to move on

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Speaker 1: with the country and think it's in the best interests

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Speaker 1: of the country to move on, would like to just

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Speaker 1: get this over with because it's not going to lead

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Speaker 1: to anything. Substitute, Genie genie Z, no come in here

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Speaker 1: in terms of the developments of today. There was some

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Speaker 1: other gripping testimony when one of the Democratic House impeachment

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Speaker 1: managers showed the video of Capitol Hill police directing Senator

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Speaker 1: Romney Uh that George just mentioned to move away from

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Speaker 1: the rioters who were on site inside of the Capitol

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Speaker 1: Uh and and in many ways UH prevented him from

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Speaker 1: a very close encounter with some of those individuals. Jeanie.

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Speaker 1: So another another day of reliving January six, Yes, and

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Speaker 1: would agree with you. Gripping is the word that comes

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Speaker 1: to mind. The prosecutors are doing an absolutely stellar job

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Speaker 1: of presenting their case. They have been very methodical, going

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Speaker 1: through minute by minute of what occurred, and of course

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Speaker 1: they started well before January six to make the case

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Speaker 1: against the president. Um I I would like to jump

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Speaker 1: onto what you and George Orge is talking about, because

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Speaker 1: it's really important when George says, this is going to

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Speaker 1: amount to nothing, and and that is you know, we

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Speaker 1: can't prognosticate, can't read the future, but that is likely

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Speaker 1: the case. Very hard to imagine. You get seventeen Republicans

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Speaker 1: since the Testament yesterday was so gripping, and we only

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Speaker 1: got one to move, and so that really raises a

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Speaker 1: broader question in my mind. You can see, or I

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Speaker 1: can see, why Americans are really really frustrated with American

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Speaker 1: government and politics because, let's face it, we're engaging in

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Speaker 1: all of this and we know the outcome is going

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Speaker 1: to be an acquittal. What is the point? And when

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Speaker 1: you ask members of Congress, and you ask other people,

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Speaker 1: particularly Democrats, who are going to vote in favor of it,

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Speaker 1: it's really hard for me to get a good answer,

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Speaker 1: which to me suggests we need another way to keep presidents,

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Speaker 1: you know, hold responsible if impeachment is going to be

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Speaker 1: sort of this empty vessel. A case like this is

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Speaker 1: a case if any of them should work, should work,

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Speaker 1: and it's clearly not going to Well, what do you

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Speaker 1: say to folks who say that that voting is the

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Speaker 1: is the mechanism voting at the ballot box that voters

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Speaker 1: make their uh and and and make their make their

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Speaker 1: case heard, and that they're the ones who are holding

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Speaker 1: the folks accountable. They absolutely did, they changed administrations. I

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Speaker 1: would just suggest that another way to do this would

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Speaker 1: be give us a mechanism for a vote of no

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Speaker 1: confidence in between election cycles, which are every four years

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Speaker 1: for the president, you know. Means like that to hold

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Speaker 1: people accountable seem in my mind, to be a better

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Speaker 1: option than these impeachment trials, which I am concerned are

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Speaker 1: going to become more and more common in our lifetime.

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Speaker 1: They already have been and absolutely amount to a hill

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Speaker 1: of beans. I mean, we've got a current president who

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Speaker 1: tells us that he's not even paying attention to the trial,

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Speaker 1: and rightly so for political reasons. But of course it's

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Speaker 1: great political theater. But this should be more than theater,

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Speaker 1: you know. It's it's it's fascinating, I think, to live through, uh,

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Speaker 1: this moment of history that we're all going through collectively,

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Speaker 1: and and just to see how the political culture and

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Speaker 1: all that that that those two words and encompass, right

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Speaker 1: including political journalists as well as the divided and polarized

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Speaker 1: political um journalism landscape, and how that and social media

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Speaker 1: platforms and the like. How all of that will one

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Speaker 1: day be remembered. It's it's it's going to be fascinating

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Speaker 1: to watch that evolution. Coming up on the program, we're

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Speaker 1: going to continue this conversation with Congressman John Gara Mendi.

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Speaker 1: He is a Democrat, of course from California, and I'm

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Speaker 1: also gonna ask him about some geopolitics, and we're gonna

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Speaker 1: get to, of course, the stimulus talk because earlier today

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Speaker 1: President Biden uh spoke to members of the Defense Department.

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Speaker 1: So there's a lot going on in the geopolitical front.

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Speaker 1: So and I'm on the US China front as well.

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Speaker 1: But to wrap up our impeachment and our lead story today,

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Speaker 1: George just in the in the minute that I have

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Speaker 1: left for right now. Uh, is it a political risk

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Speaker 1: for four for any of the prospective candidates in the

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Speaker 1: Republican Party to vote to convict President Trump. I think

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Speaker 1: they're dead if they do that. It's a matter of conscience.

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Speaker 1: Like Mitch McConnell said that they shouldn't bothe their conscience.

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Speaker 1: I'm fine with that. But there's so much anger out

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Speaker 1: there on the left and the right boat and a

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Speaker 1: lot of people see this through a purely political prison,

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Speaker 1: unlike a substant prison, because we all know we're not

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Speaker 1: going to get to the substance on this matter and

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Speaker 1: in this point in time, and so they're gonna look

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Speaker 1: at it politically. And if you try to run in

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Speaker 1: a primary after you voted to convict Trump, you're you're

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Speaker 1: you're dead on arrival. It's not gonna work, you know.

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Speaker 1: And that is that is a really uh let me

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Speaker 1: tell you something, folks, George C knows the Republican landscape

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Speaker 1: and the players and the candidates and the prospect of candidate.

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Speaker 1: He knows them personally. So I mean to hear that

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Speaker 1: is that is great analysis. All right? Coming up next,

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Speaker 1: we talked about the fiscal stimulus. I'm Kevin s Really

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Speaker 1: this is Bloomer. This is Bloomberg Sound On with Kevin

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Speaker 1: Surrele on Bloomberg Radio. My name is Kevin Curreli. I'm

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Speaker 1: the chief Washington correspondent for Bloomberg Television and from Bloomberg

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Speaker 1: of Radio. I was talking to a source today over lunch,

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Speaker 1: and a Republican source, and and and essentially we were

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Speaker 1: talking about US China relations and how Republicans are going

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Speaker 1: to be really critical of Democrats for not going far

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Speaker 1: enough in terms of being tough on China. But there's

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Speaker 1: this acceptance amongst Republicans and Democrats when I talked to Republicans,

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Speaker 1: especially on background, that there's a lot of agreement on

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Speaker 1: many of the issues. Um. And we're gonna talk more

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Speaker 1: geopolitics coming up, and we've got an all star panel

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Speaker 1: to do so, with Jennie sawn zenas with me as

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Speaker 1: well as George Ciavanadelle Capital Cap. George, I'm gonna get

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Speaker 1: it out here. It comes the CEO of Annandale Capital. Uh,

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Speaker 1: tongue tied George. UM. On the what's no, it's or

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Speaker 1: or I've had too much coffee today, It's one or

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Speaker 1: the other. I think I think it's the latter. But

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Speaker 1: before we do that on the geo political front, let's

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Speaker 1: first discuss the stimulus because earlier today, a senior Senate

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Speaker 1: Democrat highlighted comments by Federal Reserve Chairman Jerome Powell on

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Speaker 1: the weak state of the job market in his push

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Speaker 1: for a longer period of enhanced unemployment benefits. Top House

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Speaker 1: Republicans have criticized President Biden and congressional Democrats for continuing

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Speaker 1: to pursue a legislative strategy for the administration's one point

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Speaker 1: nine trillion dollar relief plan that sets the GOP aside.

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Speaker 1: But five House committees have already begun acting on their

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Speaker 1: parts of the stimulus bill. So it's it's going through committee,

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Speaker 1: as we've been reporting, as we've been discussing, and it's

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Speaker 1: happening incredibly quickly because as Democrats have decided that they

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Speaker 1: are not going to pursue bringing in Republicans. How much

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Speaker 1: is that a political miscalculation, George and why it's a

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Speaker 1: complete miscalculation. But the Democrats have sees all three areas,

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Speaker 1: the executive branch and both houses in the Congress, and

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Speaker 1: they're gonna gram road through what they want to get through,

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Speaker 1: and they're gonna be held accountable one way or another

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Speaker 1: what the American people thinks of it in the elections.

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Speaker 1: And I think they're going to lose the House as

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Speaker 1: a result, and they may lose the Senate. But I

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Speaker 1: just wish they had come to a compromise and gotten

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Speaker 1: somewhere between the six hundred billion that the Republicans offered,

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Speaker 1: which is a huge amount of money, on top of

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Speaker 1: the nine hundred billion we did about a month and

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Speaker 1: a half ago and the one point nine trillion, which

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Speaker 1: is laden with Democrat wish list goodies on the top end,

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Speaker 1: and settle for a billion or somewhere in there that

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Speaker 1: would help the people most suffering and most hurting from

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Speaker 1: from this pandemic and this economy that's been on its

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Speaker 1: back for a while and not over like the economy.

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Speaker 1: So we get inflation and maybe stagflation after that, and

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Speaker 1: it seems like we're on a sugar high and and

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Speaker 1: too much is not enough, and eventually our debt is

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Speaker 1: gonna get so high it's gonna be really hard to

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Speaker 1: service it. And let's interest rate stay low, and that's

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Speaker 1: a really bad bet. So I think it's they think

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Speaker 1: it's good politics. I don't think so. I think it's

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Speaker 1: gonna backfire. Get this. I mean, here's here's something that

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Speaker 1: you know, you can hear the campaign ads being being

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Speaker 1: written and recorded virtually right now. Uh, the Senate Finance

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Speaker 1: Committee as well as other Senate panels in the in

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Speaker 1: the upper Chamber, they're skipping formal hearings and votes on

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Speaker 1: the stimulus Why because of the time taken up by

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Speaker 1: the impeachment trial. Jeanie Schanza, No, that is not gonna sit. Well,

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Speaker 1: you can't you hear them now that out on the

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Speaker 1: on the re election campaign trail, Democrats are more interested

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Speaker 1: in the impeachment than they were on on having a

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Speaker 1: hearing on the stimulus gene and addressing COVID relief to

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Speaker 1: your point, And you know, I think what we're seeing

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Speaker 1: here is Joe Biden, who lived through the OH nine

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Speaker 1: uh what many people has described it described as a

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Speaker 1: you know a mistake in the Obama years when many

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Speaker 1: people felt the stimulus was too small, the recovery was

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Speaker 1: too weak. But to George's point, more importantly, probably from

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Speaker 1: their perspective, it was a political disaster for them in

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Speaker 1: the midterms. So I think there's an effort here to

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Speaker 1: try not to repeat the mistake of OH nine that

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Speaker 1: resulted in the I can't remember if that was the

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Speaker 1: shellacking year, which year that was, but it all blurs together. Um,

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Speaker 1: So I think that's what we're seeing here. And I

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Speaker 1: think that Democrats feel strongly that if they can get

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Speaker 1: close to this to trillion, this one point nine trillion,

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Speaker 1: then they will avoid that. And I think that is

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Speaker 1: a big, big question yet to be answered. But I

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Speaker 1: would also ask, I mean, I have asked my Democratic friends,

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Speaker 1: if you're going to do that and we face inflation,

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Speaker 1: as Larry Summer says, told have told us, how are

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Speaker 1: you going to fulfill the mission of building back better

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Speaker 1: all the things that need to be done from infrastructure

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Speaker 1: on down, Because you can't do both unless you raise taxes,

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Speaker 1: and that's unpalatable as well. So to me, that question

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Speaker 1: has yet to be answered well. And and to your

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Speaker 1: point precisely, I mean former Treasury Secretary Larry Summers, he

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Speaker 1: warned just the other week in that WAPO UH column

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Speaker 1: that that there could be a one point that the

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Speaker 1: one point nine trillion dollar stimulus bill could overheat the economy.

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Speaker 1: I mean when Larry Summers making that argument. So you

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Speaker 1: know for a fact, a genie that that when you

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Speaker 1: have people like the Finance Committee Chairman Ron Widen of

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Speaker 1: Oregon and Democrat UH quoting quoting UH FED Chairman j Powell,

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Speaker 1: who says that quote, we are still very far from

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Speaker 1: a strong labor market whose benefits are broadly shared end quote. UH.

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Speaker 1: You know that they were they were thankful for the

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Speaker 1: political cover quickly, Jue absolutely thankful for the cover. And

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Speaker 1: I think Biden still has to be careful about losing

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Speaker 1: even one of Mansion or Cinema or one of these folks.

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Speaker 1: They go and this effort to push this through is

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Speaker 1: gonna be be stonewalled. And I still go back. I

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Speaker 1: think when I talked to a mansion aid earlier this

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Speaker 1: week yesterday, and they're on board for the stimulus. It's

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Speaker 1: the other issues coming up and the political capital that

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Speaker 1: the Biden administration is expending right now. That's why, candidly,

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Speaker 1: and the shorter, longer term is that even a word, uh,

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Speaker 1: it matters. I'm Kevin Surleimore. Next, this is Bloomberg. You're

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Speaker 1: listening to Bloomberg Sound On with Kevin surrele on Bloomberg Radio.

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Speaker 1: I'm Kevin Sireley, Chief Washington correspondent for Bloomberg Television and

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Speaker 1: from Bloomberg Radio. Coming up, we talked to you a

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Speaker 1: politics as well as an interview with Congressman John Garamendi,

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Speaker 1: Democrat from Cali, California. I'm joined by none other than

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Speaker 1: Jennie Shawn's they know, as well as George c CEO

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Speaker 1: of Antendale Capital. I want to continue our conversation about

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Speaker 1: some new remarks from FED Chairman J Powell, who discussed

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Speaker 1: the state of the economy and whether or not there's

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Speaker 1: a need for more economic stimulus. I've got sound on

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Speaker 1: this from the FED chairman tickelism. Given the number of

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Speaker 1: people who have lost their jobs and the likelihood that

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Speaker 1: some will struggle to find work in the post pandemic economy,

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Speaker 1: achieving and sustaining maximum employment will require more than supportive

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Speaker 1: monetary policy. It will require a society wide commitment with

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Speaker 1: contributions from across government and the private sector. That was

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Speaker 1: the Central Bank chairman. I mean, George, you you said

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Speaker 1: what many Republicans are saying publicly is that this is

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Speaker 1: a sugar high and that that we can't afford this.

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Speaker 1: I mean, when you hear FED Chairman j. Powe will

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Speaker 1: make those remarks, what are you What are you seeing

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Speaker 1: in the economy in Texas that is different than what

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Speaker 1: FED chairman policing. Yeah. I think what the chairman and

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Speaker 1: is not recognizing is that in the Obama administration, which

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Speaker 1: when they took Para two thousand nine, the inflation the

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Speaker 1: unemployment rate did not fall below six point seven percent

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Speaker 1: until six years later. We're an unemployment of six point

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Speaker 1: seven percent today. So the job market is actually much

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Speaker 1: more robust than it was after the Great Recession. It's

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Speaker 1: it's actually not in good shape, but it's not in

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Speaker 1: terrible shape either, and we we are likely to overheat.

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Speaker 1: And I would go back to the federal debt and

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Speaker 1: the interests on the federal debt. If we were to

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Speaker 1: go back to a four percent average rate on the

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Speaker 1: federal debt, which is pretty low skilled by historical standards,

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Speaker 1: at thirty trillion in in federal debt, which is where

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Speaker 1: we're headed, that would be one point two trillion in

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Speaker 1: interest costs alone. And that's where we've got to be

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Speaker 1: really careful about all this. All this fiscal stimulus, it's

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Speaker 1: it's it's probably more than we need. I think we

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Speaker 1: do need one more round the stimulus, but very targeted

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Speaker 1: towards pandemic relief, vaccine relief, and spurring mains tread and

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Speaker 1: spurring jobs for for the economy. And the Democrats have

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Speaker 1: got an awful lot more in their package than that.

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Speaker 1: And it's unnecessary, and it's wasteful spinning, and it's going

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Speaker 1: to move the debt up, and it's gonna put us

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Speaker 1: in a very precarious financial situation. So I want to

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Speaker 1: I want to be clear here. You're saying that that

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Speaker 1: you and other Republicans support. They're being additional funds and

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Speaker 1: stimulus to to make sure that the vaccination effort stays

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Speaker 1: on track, is efficient, the millions, hundreds of millions of

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Speaker 1: vaccines that were ultimately going to need a hundred million

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Speaker 1: in the next couple of months. That that's well executed.

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Speaker 1: But what you don't like is that it's it's close

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Speaker 1: to two trillion dollars. Yeah, and and bailing out blue

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Speaker 1: states that have been recklessly spending for a very very

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Speaker 1: long period of time because it's politically expedient for the

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Speaker 1: Democrats to do so, and being discically profligate, and and

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Speaker 1: doing irresponsible stuff that's gonna hurt our country in the

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Speaker 1: long run. I just really don't. I don't think that's

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Speaker 1: a Republican viewpoint. I think Larry Summers, who I'd probably

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Speaker 1: agree with less than half the time, very smart. I

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Speaker 1: would say less than that, I'd George, I know you're

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Speaker 1: pretty well, buddy. I don't think you agree with Larry Summers.

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Speaker 1: I would say ten percent at the time, but hey,

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Speaker 1: who am I go ahead, But he's in our camp

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Speaker 1: on this deal, and he's right. I agree with it

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Speaker 1: a Genie come in here, because I mean, it's it's

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Speaker 1: fascinating to to see George. I used that when I

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Speaker 1: said yesterday that the word that has not been used

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Speaker 1: as frequently as was utilized during two thousand and eight,

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Speaker 1: and that's the bail out word. Yes, And one thing

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Speaker 1: I would question, because I too think that Larry Summers

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Speaker 1: makes a really important point, and I support more targeted assistance,

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Speaker 1: if you will, or a more targeted stimulus. That said,

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Speaker 1: something my Republican friends don't seem to be able to address,

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Speaker 1: at least as far as I've heard, is that the

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Speaker 1: other thing Powell said, which was the unemployment rate, and

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Speaker 1: George is right, it's fallen from about fifteen percent a

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Speaker 1: little less than to six percent. Yet it is dramatically understated,

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Speaker 1: according to Powell, and it is amongst the biggest twelve

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Speaker 1: months drops in the labor force participation rate since nine

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Speaker 1: He also said the impact has been particularly difficult on

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Speaker 1: low earners people in that bottom quartile. So those issues

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Speaker 1: have got to be addressed. We can't always look at

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Speaker 1: that top line unemployment rate and say, well, we're at

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Speaker 1: six percent now, six point three whatever we are right now,

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Speaker 1: and so we're doing a lot better than expected, because

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Speaker 1: you do have this enormous drop in participation, and you

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Speaker 1: do have a particularly difficult challenge for people who are

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Speaker 1: low earners, which of course is nothing new, even prior

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Speaker 1: to the pandemic. And that is not just an economic problem,

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Speaker 1: it's a societal problem as well. So when we talk

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Speaker 1: about a stimulus package, to me, that is what has

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Speaker 1: to be addressed. I agree small businesses, but those people

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Speaker 1: in those bottom segments, that has to be addressed. It's

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Speaker 1: a really interesting point. All right, let's pivot now to geopolitics,

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Speaker 1: diving into my Bloomberg terminal. Great report from my colleagues

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Speaker 1: Peter Martin Salamos and and Nick Wottoms. Biden and She

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Speaker 1: planned first call as soon as tonight. US President Joe

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Speaker 1: Biden and Chinese President Shi Jingping are preparing to speak

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Speaker 1: on Wednesday for the first time since the new administration

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Speaker 1: in Washington took office last month. According to two people

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Speaker 1: familiar with the matter, The conversation between the leaders of

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Speaker 1: the world's two biggest economies will take place as tensions

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Speaker 1: between them remains high over issues including Beijing's tightening grip

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Speaker 1: on Hong Kong trade, technology, and the South China Sea,

431
00:24:28,400 --> 00:24:34,080
Speaker 1: among other issues. It comes as Biden visited the Pentagon

432
00:24:35,040 --> 00:24:38,640
Speaker 1: the Pentagon earlier, the UH with today, and he had

433
00:24:38,720 --> 00:24:42,359
Speaker 1: directed Defense Secretary Lloyd Austin to establish a task force

434
00:24:42,640 --> 00:24:46,000
Speaker 1: to review the U S National security policy with respect

435
00:24:46,280 --> 00:24:49,000
Speaker 1: to China. George, what do you want to see? What

436
00:24:49,040 --> 00:24:50,280
Speaker 1: do you what do you hope to get? On the

437
00:24:50,320 --> 00:24:53,560
Speaker 1: read out between the call with Biden and she tonight,

438
00:24:55,359 --> 00:24:58,439
Speaker 1: I'm not optimistic. I think China is not a friendly

439
00:24:58,480 --> 00:25:00,879
Speaker 1: competitor anymore than an advert serry. And I think that

440
00:25:00,960 --> 00:25:04,160
Speaker 1: there are a real threat to global stability and and

441
00:25:04,320 --> 00:25:07,680
Speaker 1: freedom around the world, and all the the negative things

442
00:25:07,760 --> 00:25:10,720
Speaker 1: China has done the last several years, whether it's uh

443
00:25:10,880 --> 00:25:16,280
Speaker 1: imprisoning and and and UH profiling their their Muslim citizens

444
00:25:16,720 --> 00:25:20,600
Speaker 1: and the South China see warlike effort and the the

445
00:25:20,800 --> 00:25:22,920
Speaker 1: cover up of the pandemic and everything else. I think

446
00:25:22,960 --> 00:25:25,680
Speaker 1: the President's got is handsful, and I'm I'm cheering for him.

447
00:25:25,680 --> 00:25:27,600
Speaker 1: I think it's very important that we continue to do

448
00:25:27,640 --> 00:25:31,200
Speaker 1: business with China, but do so in a very wary, harsh,

449
00:25:31,440 --> 00:25:34,360
Speaker 1: tough way, because that's that's the only language they understand.

450
00:25:34,960 --> 00:25:37,920
Speaker 1: So what what specific policies on the business front, Because

451
00:25:37,960 --> 00:25:42,120
Speaker 1: I'm we'll continue this conversation, uh really throughout the next

452
00:25:42,160 --> 00:25:44,359
Speaker 1: couple of weeks and months, because when I talk to

453
00:25:44,400 --> 00:25:47,160
Speaker 1: folks in the business community, especially who have a more

454
00:25:47,280 --> 00:25:51,840
Speaker 1: conservative perspective, it's they understand, they recognize that we're in

455
00:25:51,880 --> 00:25:54,960
Speaker 1: a global economy. But it's that balancing act, that balancing

456
00:25:55,000 --> 00:25:58,879
Speaker 1: act of doing business with China that has just continued

457
00:25:58,960 --> 00:26:02,600
Speaker 1: to perplex uh United States at the sea level, c

458
00:26:02,760 --> 00:26:06,080
Speaker 1: suite level, and of course in the policy making. George,

459
00:26:06,400 --> 00:26:08,240
Speaker 1: my friend, thank you so much for spending time with me.

460
00:26:08,280 --> 00:26:09,760
Speaker 1: I know, I gotta let you go. You're always so

461
00:26:09,800 --> 00:26:13,440
Speaker 1: generous with your time. Genie is gonna stick around. That's George. See.

462
00:26:13,480 --> 00:26:16,359
Speaker 1: He is the CEO of Annandale Capital. He's worked in

463
00:26:16,440 --> 00:26:19,480
Speaker 1: the kind of he's worked at the State's apartment. He's

464
00:26:19,480 --> 00:26:21,680
Speaker 1: a Texas businessman, and he's a former senior advisor to

465
00:26:21,720 --> 00:26:27,400
Speaker 1: Marco Rubio's presidential campaign. I'm Kevin Cirelli, Congressman Garamendi. Up next,

466
00:26:27,440 --> 00:26:37,280
Speaker 1: this is Bloomberg. You're listening to Bloomberg Sound On with

467
00:26:37,400 --> 00:26:42,200
Speaker 1: Kevin Surley on Bloomberg Radio. My name is Kevin Cirelli.

468
00:26:42,520 --> 00:26:45,600
Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for

469
00:26:45,680 --> 00:26:49,760
Speaker 1: Bloomberg Radio, accompanying none other then by Jeanie Schanzano, a

470
00:26:49,760 --> 00:26:54,359
Speaker 1: Bloomberg Politics contributor, joining us on the line. Congressman John

471
00:26:54,400 --> 00:26:58,560
Speaker 1: Garamendi returning to the Bloomberg sound on radio platform programs.

472
00:26:58,800 --> 00:27:02,240
Speaker 1: He represents California third Congressional District, which is the upper

473
00:27:02,280 --> 00:27:08,200
Speaker 1: middle of California, suburb sub suburbs of Sacramento. A k.

474
00:27:08,640 --> 00:27:11,560
Speaker 1: This is in This is in Christine Verada's show notes

475
00:27:11,920 --> 00:27:16,200
Speaker 1: Wine Country. Joan Garamendi, You've got wine country in your district.

476
00:27:17,400 --> 00:27:19,679
Speaker 1: I have great wine country in my district. I have

477
00:27:19,720 --> 00:27:23,040
Speaker 1: a great agricultural district. It is just stretches out across

478
00:27:23,080 --> 00:27:26,359
Speaker 1: the Sacramento Valley, beginning just east of the Bay Area,

479
00:27:27,240 --> 00:27:29,679
Speaker 1: a hundred and ninety nine point six miles of the

480
00:27:29,680 --> 00:27:32,359
Speaker 1: Great Sacramento River, including part of the city in the

481
00:27:32,400 --> 00:27:34,880
Speaker 1: suburbs of Sacramento. You know, this is probably gonna sound

482
00:27:34,880 --> 00:27:37,520
Speaker 1: a little a little odd, but one of my favorite

483
00:27:37,520 --> 00:27:41,320
Speaker 1: parts of my job is getting to talk to house members, uh,

484
00:27:41,560 --> 00:27:44,959
Speaker 1: talk about their district because they light up, really they

485
00:27:45,000 --> 00:27:47,600
Speaker 1: do um anyway, But I want to talk to geo

486
00:27:47,640 --> 00:27:50,240
Speaker 1: politics before we talk about the impeachment because there's been

487
00:27:50,280 --> 00:27:53,080
Speaker 1: some really interesting developments. And you, sir, of course, are

488
00:27:53,080 --> 00:27:55,760
Speaker 1: a member of the House Armed Services Committee, and you

489
00:27:55,800 --> 00:27:58,359
Speaker 1: are the chairman of the Subcommittee on Readiness as and

490
00:27:58,400 --> 00:28:01,280
Speaker 1: you're a member of the Subcommittee on Stretch Agic Forces. UM.

491
00:28:01,440 --> 00:28:04,520
Speaker 1: President Biden tonight is expected to speak with Chinese President

492
00:28:04,560 --> 00:28:06,480
Speaker 1: shi Jing Ping. What do you hope comes out of

493
00:28:06,480 --> 00:28:12,600
Speaker 1: that conversation. I think a very honest, straightforward discussion about

494
00:28:12,640 --> 00:28:16,720
Speaker 1: the the competition that we now have and will have

495
00:28:16,840 --> 00:28:19,879
Speaker 1: for many years to come with China. Uh and that

496
00:28:19,960 --> 00:28:24,120
Speaker 1: competition can be just up and down commercial competition, which

497
00:28:24,160 --> 00:28:27,160
Speaker 1: would be good without one or the other of us

498
00:28:27,200 --> 00:28:30,800
Speaker 1: taking advantage. For example, China is for a long long

499
00:28:30,880 --> 00:28:35,919
Speaker 1: time taking advantage of its position as a non um

500
00:28:36,240 --> 00:28:40,160
Speaker 1: What am I looking for here as a developing country?

501
00:28:40,960 --> 00:28:44,160
Speaker 1: Hardly a developing country, but that's given an enormous advantage

502
00:28:44,160 --> 00:28:47,320
Speaker 1: in international trade issues. So you know, eliminate those and

503
00:28:47,440 --> 00:28:49,560
Speaker 1: let's go ahead to head and by the way, stop

504
00:28:49,600 --> 00:28:52,520
Speaker 1: stealing our stuff, and you're not going to push us

505
00:28:52,520 --> 00:28:54,760
Speaker 1: out of the South China Sea, and don't letting our

506
00:28:55,440 --> 00:28:58,440
Speaker 1: allies a lot of things to talk about there. Well,

507
00:28:58,480 --> 00:29:01,240
Speaker 1: they're going to talk about terroriffs and and President Biden

508
00:29:01,360 --> 00:29:03,640
Speaker 1: has said just the other week to The New York

509
00:29:03,640 --> 00:29:06,400
Speaker 1: Times that he's not immediately going to lift the tariffs

510
00:29:06,680 --> 00:29:10,560
Speaker 1: against Beijing that the Trump administration had had put in place.

511
00:29:10,760 --> 00:29:15,760
Speaker 1: How much bipartisanship is there, Congressman Garamendi, between your colleagues

512
00:29:15,760 --> 00:29:18,360
Speaker 1: and the Democratic Party and Republicans on how to best

513
00:29:18,400 --> 00:29:24,840
Speaker 1: deal with China. A deal withing straightforward, no huffing, no puffing. Uh,

514
00:29:25,000 --> 00:29:27,160
Speaker 1: you don't bound it. You don't have to pound your chest.

515
00:29:27,440 --> 00:29:29,680
Speaker 1: We are very strong in America is a strong country.

516
00:29:29,680 --> 00:29:33,479
Speaker 1: It has interest in the Pacific. China knows that. Let

517
00:29:33,560 --> 00:29:35,760
Speaker 1: them know that we're going to maintain those interests. We're

518
00:29:35,800 --> 00:29:38,640
Speaker 1: gonna build our allies, and then we're not going to

519
00:29:38,720 --> 00:29:42,040
Speaker 1: be pushed around. At the same time, we don't need

520
00:29:42,080 --> 00:29:46,920
Speaker 1: to threaten China, but we but both countries need to

521
00:29:46,960 --> 00:29:50,560
Speaker 1: understand that they're going to be in competition for years

522
00:29:50,600 --> 00:29:54,600
Speaker 1: to come, but it doesn't have to be military competition,

523
00:29:54,640 --> 00:29:57,560
Speaker 1: as long as China doesn't try to push us out

524
00:29:57,640 --> 00:30:03,360
Speaker 1: of certain key um interests that we have, including Japan

525
00:30:03,480 --> 00:30:08,480
Speaker 1: and South Korea and the South China Sea along the way,

526
00:30:08,720 --> 00:30:12,960
Speaker 1: we really need to spend time and Biden administration seems

527
00:30:12,960 --> 00:30:15,680
Speaker 1: to want to do this to build alliances and rebuild

528
00:30:15,720 --> 00:30:19,560
Speaker 1: the alliances throughout the world, and particularly in the specific

529
00:30:19,600 --> 00:30:22,480
Speaker 1: and that means trade deals. We have got to put

530
00:30:22,480 --> 00:30:25,760
Speaker 1: our trade deals back together. Trump basically through him aside

531
00:30:26,200 --> 00:30:32,400
Speaker 1: not good. Uh, the Trance specific partnership. Trump terminated that.

532
00:30:32,480 --> 00:30:35,720
Speaker 1: The result of it was China stepped in and basically

533
00:30:35,880 --> 00:30:38,840
Speaker 1: took it over. So now we've got to catch up

534
00:30:38,880 --> 00:30:42,920
Speaker 1: on that. Representative Garamendi, it's a genie's anto coming to

535
00:30:42,960 --> 00:30:44,760
Speaker 1: you from New York. It's such a pleasure to talk

536
00:30:44,800 --> 00:30:48,560
Speaker 1: to you. I wanted to ask you given what we've

537
00:30:48,560 --> 00:30:51,360
Speaker 1: been seeing yesterday and today in terms of some of

538
00:30:51,360 --> 00:30:56,800
Speaker 1: these really horrific videos in the impeachment trial. We've heard

539
00:30:56,920 --> 00:31:00,120
Speaker 1: also talk that there were members of the military or

540
00:31:00,600 --> 00:31:03,720
Speaker 1: participating in the riot. And as a member of the

541
00:31:03,840 --> 00:31:08,080
Speaker 1: Armed Services Committee, what is your expectation of the new

542
00:31:08,120 --> 00:31:12,240
Speaker 1: Defense Secretary in terms of these efforts to combat extremism

543
00:31:12,320 --> 00:31:17,840
Speaker 1: and are you doing anything on Armed services to that end? Well,

544
00:31:17,840 --> 00:31:20,840
Speaker 1: first of all, the new secretary is on this issue.

545
00:31:21,320 --> 00:31:25,280
Speaker 1: He knows that this is a major problem. Being African American,

546
00:31:25,320 --> 00:31:29,120
Speaker 1: he fully understands the kind of discrimination he saw throughout

547
00:31:29,160 --> 00:31:33,080
Speaker 1: his career. Uh, and a lot of that is white nationalism.

548
00:31:33,160 --> 00:31:37,320
Speaker 1: It has to be rooted out of taken out of destroyed.

549
00:31:37,400 --> 00:31:41,000
Speaker 1: In the military. We can't simply can't have that, and

550
00:31:41,280 --> 00:31:43,320
Speaker 1: I believe you'll do it. With regard to what we've

551
00:31:43,360 --> 00:31:47,120
Speaker 1: been doing is to enable that. We've also taken steps

552
00:31:47,160 --> 00:31:52,240
Speaker 1: to eliminate the names of traders that dot the various

553
00:31:52,880 --> 00:31:56,880
Speaker 1: military basis. These are folks that were the high command

554
00:31:56,960 --> 00:32:01,280
Speaker 1: of the Confederates in the Civil War. So that is underway,

555
00:32:01,400 --> 00:32:07,200
Speaker 1: and we are providing specific authority and responsibility to the

556
00:32:07,280 --> 00:32:12,200
Speaker 1: military to deal both with systemic racism as well as

557
00:32:12,520 --> 00:32:19,800
Speaker 1: u uh um, I'm looking for the right word here,

558
00:32:21,000 --> 00:32:26,280
Speaker 1: but those that is underway within the military. Now beyond that, uh,

559
00:32:26,320 --> 00:32:31,640
Speaker 1: we're clearly looking at how we're going to address the

560
00:32:31,720 --> 00:32:38,200
Speaker 1: issue of military people former and current that the participated

561
00:32:38,240 --> 00:32:41,000
Speaker 1: in the mob will know who we now know who

562
00:32:41,040 --> 00:32:42,840
Speaker 1: many of them are, will know who more of them

563
00:32:42,840 --> 00:32:46,640
Speaker 1: are in the day's head, and they will be appropriately disciplined,

564
00:32:46,760 --> 00:32:50,520
Speaker 1: some of them in civil and others in the military courts.

565
00:32:51,240 --> 00:32:54,320
Speaker 1: How do you think the Democratic House impeachment managers. Congressman

566
00:32:54,400 --> 00:32:56,640
Speaker 1: John Garamendi, Democrat from California how do you think your

567
00:32:56,640 --> 00:32:59,560
Speaker 1: colleagues are doing and making their case to the country.

568
00:33:01,120 --> 00:33:04,440
Speaker 1: I think they're brilliant. I think the presentations that we've

569
00:33:04,480 --> 00:33:09,640
Speaker 1: saw yesterday, uh and again today, these are brilliant descriptions

570
00:33:09,680 --> 00:33:16,440
Speaker 1: of the problem, compelling, emotional, and thoughtful, and present a

571
00:33:16,480 --> 00:33:21,280
Speaker 1: clear case in which the president clearly brought to Washington

572
00:33:21,480 --> 00:33:25,040
Speaker 1: a mob and then incited them to not only attacked

573
00:33:25,080 --> 00:33:28,400
Speaker 1: the capital, which in and of itself is horrible, but

574
00:33:28,600 --> 00:33:33,080
Speaker 1: really to to overthrow the democracy, to stop the election.

575
00:33:33,800 --> 00:33:36,600
Speaker 1: That's what this was all about. That's why January six

576
00:33:36,760 --> 00:33:41,920
Speaker 1: was selected as the date for his counter demonstration here

577
00:33:41,920 --> 00:33:46,880
Speaker 1: in Washington. It was all about stopping the election. That

578
00:33:47,040 --> 00:33:51,520
Speaker 1: is the final certification of the election. So terms of

579
00:33:51,680 --> 00:33:54,600
Speaker 1: humaine in power to to the to the Republicans who

580
00:33:54,640 --> 00:33:57,120
Speaker 1: say that this is political theater and that the outcome

581
00:33:57,200 --> 00:33:59,120
Speaker 1: of the trial has already known, and that this is

582
00:33:59,120 --> 00:34:03,960
Speaker 1: a waste of time, responsibly, what my response is, if

583
00:34:04,000 --> 00:34:06,520
Speaker 1: a five year old kid is acting out in kindergarten,

584
00:34:06,960 --> 00:34:09,440
Speaker 1: then he needs to be held accountable. You know, go

585
00:34:09,520 --> 00:34:13,759
Speaker 1: to the corner. Uh, it's time out. Whatever. This is

586
00:34:13,800 --> 00:34:19,480
Speaker 1: a president that tried to overthrow the constitutional government of

587
00:34:19,480 --> 00:34:22,200
Speaker 1: the United States, he needs to be held accountable, not

588
00:34:22,280 --> 00:34:25,600
Speaker 1: just to make it clearer to him that it was wrong,

589
00:34:26,080 --> 00:34:30,799
Speaker 1: but also in the future that this is simply not

590
00:34:30,880 --> 00:34:33,879
Speaker 1: going to happen in America. There people have to be

591
00:34:33,960 --> 00:34:38,640
Speaker 1: held accountable for the misdeeds, and this was a major misdeeds.

592
00:34:38,840 --> 00:34:41,920
Speaker 1: Edition is the right word to be used here. I

593
00:34:41,960 --> 00:34:44,200
Speaker 1: want to pivot to geopolitics, and I only have you

594
00:34:44,280 --> 00:34:46,640
Speaker 1: for for ninety more seconds, so unfortunately this has to

595
00:34:46,640 --> 00:34:50,000
Speaker 1: be quick. UH. President Biden has said that he is

596
00:34:50,040 --> 00:34:54,560
Speaker 1: not going to lift sanctions against Ivron in order to

597
00:34:54,600 --> 00:34:57,359
Speaker 1: try to bring them back to the negotiations table for

598
00:34:57,400 --> 00:35:01,040
Speaker 1: the nuclear disarmament talks now early within the Within the

599
00:35:01,120 --> 00:35:04,840
Speaker 1: last twenty four hours, Iran's President Ruwani has said he

600
00:35:04,880 --> 00:35:09,000
Speaker 1: has urged world powers to rejoin the nuclear deal, most notably, UH,

601
00:35:09,040 --> 00:35:12,360
Speaker 1: the United States. Do you agree with President Biden that

602
00:35:12,680 --> 00:35:15,520
Speaker 1: tariff should be and restrictions should be left in place

603
00:35:16,520 --> 00:35:20,400
Speaker 1: until they start following uh, the terms of the agreement

604
00:35:20,400 --> 00:35:25,560
Speaker 1: that they had agreed to. This is a very complex

605
00:35:25,640 --> 00:35:31,920
Speaker 1: puzzle that was largely scattered by the by Trump when

606
00:35:31,960 --> 00:35:34,839
Speaker 1: he pulled the United States out of it. Putting those

607
00:35:34,880 --> 00:35:39,399
Speaker 1: pieces of the puzzle back together again is intricate and

608
00:35:39,880 --> 00:35:43,000
Speaker 1: time consuming. We need to take the time to put

609
00:35:43,000 --> 00:35:46,360
Speaker 1: the pieces back together so that Iran will not have

610
00:35:46,520 --> 00:35:49,279
Speaker 1: a nuclear weapon any time sooner or any time into

611
00:35:49,280 --> 00:35:52,239
Speaker 1: the future. But there are other pieces of this that

612
00:35:52,320 --> 00:35:55,560
Speaker 1: need to be considered. So I would get the president

613
00:35:55,880 --> 00:36:00,000
Speaker 1: sufficient time to work through the intricacies. Uh. And eventually,

614
00:36:00,080 --> 00:36:03,080
Speaker 1: like here said, he wants to get back into the deal. Fine,

615
00:36:03,160 --> 00:36:05,080
Speaker 1: let's do it in the right and the best way.

616
00:36:05,160 --> 00:36:07,360
Speaker 1: All right, My thanks to Congressman John Garamendy, and and

617
00:36:07,400 --> 00:36:09,560
Speaker 1: please come back on to continue to talk about the

618
00:36:09,560 --> 00:36:13,400
Speaker 1: pieces of that puzzle. It's a very important geopolitical issue.

619
00:36:13,760 --> 00:36:16,719
Speaker 1: February is Black History Month, and Bloomberg Radio is celebrating

620
00:36:16,719 --> 00:36:20,040
Speaker 1: pivotal moments in the U S Black history each day.

621
00:36:20,120 --> 00:36:23,200
Speaker 1: Here at today's installment is Bloomberg's for needing young on

622
00:36:23,280 --> 00:36:27,400
Speaker 1: this day in Black History. In nine, Attorney Ron Brown

623
00:36:27,520 --> 00:36:31,080
Speaker 1: becomes the first African American elected national chairman of the

624
00:36:31,120 --> 00:36:34,880
Speaker 1: Democratic Party. As Chairman, Brown played a key role in

625
00:36:35,040 --> 00:36:39,280
Speaker 1: securing the election of Bill Clinton, who was the first

626
00:36:39,320 --> 00:36:42,799
Speaker 1: Democrat to win the US presidency since Jimmy Carter in

627
00:36:42,920 --> 00:36:49,360
Speaker 1: nineteen seventy six. So in Clinton nominated Brown as Commerce Secretary,

628
00:36:49,440 --> 00:36:52,439
Speaker 1: and when the Senate confirmed him, Brown became the first

629
00:36:52,560 --> 00:36:56,800
Speaker 1: black person to hold that cabinet post in US history.

630
00:36:57,000 --> 00:37:00,800
Speaker 1: That's today in black history. I'm Gonnita Young Boomberg Radio.

631
00:37:01,640 --> 00:37:04,319
Speaker 1: All right, that says it for us today. Jeanie Schonz, Now,

632
00:37:04,360 --> 00:37:05,879
Speaker 1: I mean, what are you gonna be watching? Quickly? We've

633
00:37:05,920 --> 00:37:07,600
Speaker 1: only got like ten seconds, so you've got to keep

634
00:37:07,600 --> 00:37:09,000
Speaker 1: it quick. And when I say what are you going

635
00:37:09,040 --> 00:37:13,760
Speaker 1: to be watching? I mean on the geo political fronts Umm,

636
00:37:13,920 --> 00:37:16,799
Speaker 1: I'm really focused on this impeachment right now. But the

637
00:37:16,840 --> 00:37:20,280
Speaker 1: point you made earlier, I'm fascinated by that that people

638
00:37:20,320 --> 00:37:23,800
Speaker 1: in Washington see a wave to come to an agreement,

639
00:37:23,840 --> 00:37:26,120
Speaker 1: but people at home don't see that. So this sort

640
00:37:26,120 --> 00:37:28,960
Speaker 1: of division between Washington, d C. And what's going on

641
00:37:29,000 --> 00:37:31,839
Speaker 1: at home is really really tough to surmount, really tough

642
00:37:31,880 --> 00:37:33,920
Speaker 1: to surmount. I also just want to note that February

643
00:37:34,400 --> 00:37:37,279
Speaker 1: is the House Game Stop hearing, so next week we'll

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Speaker 1: get into that post Valentine's Day policy talk. I'm Kevin

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Speaker 1: SURREALI this is Bloomberg