WEBVTT - U.S. To Ship Pfizer Shots Globally 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:04.440 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovick. We're here every day bringing 0:00:07.280 --> 0:00:09.799 you the latest news from the worlds of business and finance, 0:00:09.840 --> 0:00:13.600 plus technology, politics, economics, all harnessing the power of Business 0:00:13.640 --> 0:00:17.119 Week reporters and editors, not to mention our journalists and 0:00:17.120 --> 0:00:19.600 analyst in more than one and twenty countries. You can 0:00:19.640 --> 0:00:23.160 download Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg dot Com. 0:00:23.400 --> 0:00:25.120 You can also listen to our radio show at two 0:00:25.160 --> 0:00:27.840 pm Eastern Time on Bloomberg Radio, or watch us on 0:00:27.880 --> 0:00:32.839 YouTube search Bloomberg Global News. Well. President Biden says donated 0:00:32.960 --> 0:00:35.960 viser shots will start to ship globally. In August, he 0:00:36.000 --> 0:00:38.479 announced that the US will begin shipping a half billion 0:00:38.520 --> 0:00:42.479 donated doses of viser coronavirus vaccines to countries in quote 0:00:42.479 --> 0:00:45.400 dire need. In August that making good on a promise 0:00:45.479 --> 0:00:49.400 to lead the global campaign against the pandemic. Joining US 0:00:49.440 --> 0:00:52.080 now on this and more is Dr Amish Adalga, Senior 0:00:52.120 --> 0:00:55.040 scholar and infectious disease physician at the Center for Health 0:00:55.040 --> 0:00:57.640 Security at the Johns Hopkins Bloomberg School of Public Health. 0:00:57.640 --> 0:01:00.400 He joins us on the phone from Pittsburgh. Dr Adulge, 0:01:00.400 --> 0:01:02.320 it is great to have you back on the show. 0:01:03.360 --> 0:01:05.920 I want to start with this half a billion donated 0:01:05.959 --> 0:01:10.000 doses of Visor vaccine. It sounds like a lot, and 0:01:10.040 --> 0:01:12.840 to be sure, it is a massive number. But given 0:01:12.880 --> 0:01:16.479 that the the globe needs billions to get past this pandemic, 0:01:17.040 --> 0:01:19.759 isn't it still just somewhat I don't want to say, 0:01:19.760 --> 0:01:23.120 a drop in the bucket, but not quite enough. Well, 0:01:23.160 --> 0:01:25.880 it's it's a step in the right direction, and there 0:01:25.920 --> 0:01:29.360 are going to be more donations, more purchases of vaccines 0:01:29.440 --> 0:01:33.520 by the developing world, the Kovacs program, other organizations getting 0:01:33.560 --> 0:01:37.119 vaccines into people. But the more the more vaccines, even 0:01:37.160 --> 0:01:40.080 if it's not enough, the more that are getting into 0:01:40.120 --> 0:01:42.720 people's arms, the better the global trajectory of the pandemic looks, 0:01:42.800 --> 0:01:46.400 especially if you're trying to vaccinate healthcare workers, high risk individuals. 0:01:46.440 --> 0:01:49.440 I think this is a significant a significant donation, and 0:01:49.760 --> 0:01:52.720 it is something that would be very welcome in those countries. 0:01:53.600 --> 0:01:57.160 Availability of vaccine is certainly one thing, but the administration 0:01:57.160 --> 0:01:59.360 of vaccine, especially of vaccine, that has to be stored 0:01:59.400 --> 0:02:00.760 in a way that the Visor m R and a 0:02:00.880 --> 0:02:03.640 vaccine has to be stored is a completely different thing. 0:02:04.400 --> 0:02:06.080 What do these countries need to be doing ahead of 0:02:06.080 --> 0:02:07.960 time to make sure that they can actually have a 0:02:08.000 --> 0:02:12.680 campaign that effectively can administer this vaccine. The first thing 0:02:12.680 --> 0:02:14.000 they have to do is make sure that they can 0:02:14.080 --> 0:02:17.360 ensure the coal chain. The visor vaccine has, as you said, 0:02:17.400 --> 0:02:19.480 really owner restorage requirements. They have to make sure that 0:02:19.520 --> 0:02:23.200 they can actually handle that vaccine. Then it's about logistically 0:02:23.200 --> 0:02:25.560 figuring out where you're going to vaccinate people. Is this 0:02:25.639 --> 0:02:27.280 going to be a vaccine centers? Are they're going to 0:02:27.360 --> 0:02:29.280 be Is it going to be a healthcare centers? There 0:02:29.320 --> 0:02:31.920 are there going to be other places where this vaccine 0:02:31.960 --> 0:02:34.079 is going to be available. You also have to think 0:02:34.080 --> 0:02:36.720 do you have enough syringes, do you have enough needles, 0:02:36.720 --> 0:02:38.600 do you have the alcohol swabs? Do you have enough 0:02:38.600 --> 0:02:42.480 personnel to actually administer the shots. All of that planning 0:02:42.560 --> 0:02:44.840 has to be put into place when you're planning something 0:02:44.880 --> 0:02:47.160 like this, and that's going to be really important for 0:02:47.200 --> 0:02:49.880 those countries to to pre to kind of pre position 0:02:49.919 --> 0:02:53.079 and be ready to go when they get the vaccine. Now, 0:02:53.120 --> 0:02:54.800 i'm i'm. We've talked to you a lot in the 0:02:54.840 --> 0:02:57.400 past here on Bloomberg Radio and on quick Take about 0:02:57.919 --> 0:03:00.880 variants of concern that have upped around the world, and 0:03:00.919 --> 0:03:03.919 one narrative that has emerged over the last few months 0:03:03.960 --> 0:03:07.160 as the US has been vaccinated increasingly but other countries 0:03:07.160 --> 0:03:09.920 have not, is the idea that we're not on the 0:03:09.919 --> 0:03:12.200 other side of this pandemic until the entire world is. 0:03:12.240 --> 0:03:14.280 And it's not just an economic story, but it's also 0:03:14.320 --> 0:03:16.800 a story of public health, and the concern worst case 0:03:16.840 --> 0:03:19.560 scenario was that some sort of variant develops and it 0:03:19.600 --> 0:03:22.640 goes kind of unchecked in a country that is not 0:03:22.800 --> 0:03:25.680 completely vaccinated or does not have a high level of vaccine, 0:03:25.840 --> 0:03:30.840 and that variant then can get past the vaccines that 0:03:30.919 --> 0:03:34.160 have been approved for emergency use authorization in certain countries. 0:03:34.560 --> 0:03:36.680 And I wonder if there's any evidence at this point 0:03:36.880 --> 0:03:39.840 here we are June tenth, that that could still happen, 0:03:39.920 --> 0:03:43.880 or that that has happened. There's no evidence in any 0:03:44.160 --> 0:03:46.400 of what we would call variants of high consequence, ones 0:03:46.440 --> 0:03:49.440 that are able to cause serious disease and fully vaccinated 0:03:49.440 --> 0:03:51.600 people have emerged. And it's it's a very hard thing 0:03:51.640 --> 0:03:53.760 for a virus to do, because it's not just that 0:03:53.800 --> 0:03:57.000 they have to evade the antibodies generated by the vaccine. 0:03:57.000 --> 0:03:58.880 It's also the T cell immunity, and it seems that 0:03:58.920 --> 0:04:01.400 T sell immunity, which is a whole different arm of 0:04:01.400 --> 0:04:04.920 your immune system, is very robust and when faced with 0:04:04.960 --> 0:04:07.240 the variant, even if it can get around the antibodies, 0:04:07.400 --> 0:04:10.800 the T cells prevent the infection from progressing to serious 0:04:10.840 --> 0:04:15.000 illness or needing hospitalization. And I think that's almost like 0:04:15.000 --> 0:04:17.320 a biological fact that it's going to be a very 0:04:17.320 --> 0:04:19.880 hard constraint for that virus to get around. Yes, it's 0:04:19.920 --> 0:04:22.560 biologically plausible, But do I think it's going to happen. No. 0:04:22.720 --> 0:04:25.719 But I think the other point is is that even 0:04:26.200 --> 0:04:29.400 from an individual perspective, we have a significant proportion of 0:04:29.440 --> 0:04:32.679 the US population that is not vaccinated, and those variants 0:04:32.720 --> 0:04:36.520 are going to be able to uh to infect them. 0:04:36.600 --> 0:04:38.560 Those variants are going to be able to cause serious disease. 0:04:39.040 --> 0:04:41.880 Even if hospitals aren't in crisis, there's still an individual 0:04:41.920 --> 0:04:44.560 threat to health from COVID nineteen. So that's why we 0:04:44.600 --> 0:04:47.640 want to get vaccine vaccine rates as high as possible, 0:04:47.839 --> 0:04:50.880 even when the public health emergency aspect of this pandemic 0:04:50.960 --> 0:04:53.640 is over in his country. But President Biden has the goal, 0:04:53.680 --> 0:04:56.000 and he laid out this goal weeks ago to have 0:04:57.279 --> 0:04:59.800 of American adults have received one shot since the fourth 0:04:59.839 --> 0:05:02.880 of a live we're just over right now. Do you 0:05:02.880 --> 0:05:06.359 think we're gonna make it? It's going to be very challenging. 0:05:06.360 --> 0:05:08.720 It's very difficult to now find people who want to 0:05:08.760 --> 0:05:11.760 be vaccinated. We've kind of gone through everybody that wants 0:05:11.760 --> 0:05:13.720 to be vaccinated. We've made it very convenient. You can 0:05:13.760 --> 0:05:15.880 get vaccinated in the subway in New York City. You 0:05:15.880 --> 0:05:18.279 can get vaccinated at strip bars in Las Vegas. You 0:05:18.279 --> 0:05:21.040 can get vaccinated on the beach. You get free beer, 0:05:21.160 --> 0:05:24.680 free donuts, you get lottery tickets so you get bonds. 0:05:24.720 --> 0:05:27.320 In West Virginia, a lot of incentives are there. So 0:05:27.360 --> 0:05:28.880 it's becoming hard. I don't know that we're going to 0:05:28.960 --> 0:05:31.240 actually reach that goal, but to me, I think it's 0:05:31.279 --> 0:05:33.400 important to strive for it and to continue even if 0:05:33.440 --> 0:05:35.600 we don't meet that goal fourth of July, to still 0:05:35.600 --> 0:05:38.200 continue to push forward with vaccines because the more this 0:05:38.320 --> 0:05:41.599 population and in our country is vaccinated, the more resilient 0:05:41.640 --> 0:05:44.039 we're going to be, the less disruptive COVID nineteen is 0:05:44.080 --> 0:05:46.159 going to be, and the quicker we can kind of 0:05:46.160 --> 0:05:50.039 put all of this behind us. In addition to those prizes, 0:05:50.080 --> 0:05:52.839 in some places, you also do get protection from something 0:05:52.839 --> 0:05:56.479 that a lot of people really don't want. Uh. I wonder, 0:05:56.560 --> 0:05:58.040 Dr Adulter, just in the last minute we have and 0:05:58.080 --> 0:05:59.880 then you're gonna come back with us after we do 0:06:00.040 --> 0:06:03.160 some news. What from a public health perspective messaging perspective, 0:06:03.200 --> 0:06:05.520 seems to be working to get those people who have 0:06:05.600 --> 0:06:09.039 held out in the last thirty seconds. The best The 0:06:09.080 --> 0:06:11.400 best message is the fact that these vaccines improve your 0:06:11.400 --> 0:06:13.520 personal Like just as you said that this protects you 0:06:13.600 --> 0:06:16.640 from a serious infectious disease. It makes you no longer 0:06:16.680 --> 0:06:18.240 a threat to others, and it makes the virus no 0:06:18.279 --> 0:06:19.719 longer a threat to you, and it allows you to 0:06:19.720 --> 0:06:21.440 get your your life back. And I think that's the 0:06:21.480 --> 0:06:23.599 best way to message this. And it took some time 0:06:23.640 --> 0:06:25.720 for the CDC to actually get on board with that message, 0:06:25.720 --> 0:06:27.880 but that's the true one and that's the correct Yeah. 0:06:27.920 --> 0:06:29.920 I feel like I'm a superhero. I've said this before, 0:06:30.080 --> 0:06:32.440 but you know, I feel totally comfortable doing things that 0:06:32.440 --> 0:06:34.800 for the last fourteen months I was not comfortable doing. 0:06:34.960 --> 0:06:37.680 Let's get right back to dr Amish Adulga, Senior scholar 0:06:37.680 --> 0:06:40.000 an infectious disease physician at the Center for Health Security, 0:06:40.040 --> 0:06:42.520 I think JOHNS Hopkins, Bloomberg School of Public Health. He 0:06:42.640 --> 0:06:45.480 joins us on the phone from Pittsburgh. We just heard 0:06:45.520 --> 0:06:48.279 from your colleague, Dr Jennifer Nuso about how important it 0:06:48.320 --> 0:06:51.479 is to get those vaccines in arms as soon as possible, 0:06:51.560 --> 0:06:54.760 Dr Adlga. And one reason that we like to talk 0:06:54.800 --> 0:06:57.440 to you each and every week and as much as possible, 0:06:57.480 --> 0:07:01.400 really is that you're out there each week on the 0:07:01.400 --> 0:07:03.600 front lines still and you have been throughout the pandemic 0:07:03.680 --> 0:07:06.480 visiting patients, and we've been able to get updates from 0:07:06.520 --> 0:07:10.000 you about what it's been like throughout the pandemic. And 0:07:10.040 --> 0:07:14.200 I wonder now what you're seeing with the coronavirus, but 0:07:14.240 --> 0:07:18.240 also with other types of viruses that could be flaring 0:07:18.320 --> 0:07:22.200 up right now. So with coronavirus right now, it's very 0:07:22.240 --> 0:07:24.640 low and I work clinically in the Pittsburgh area and 0:07:24.680 --> 0:07:26.680 the hospitals are in good shape, and the people that 0:07:26.720 --> 0:07:29.400 we are seeing come in with coronavirus are those who 0:07:29.480 --> 0:07:33.400 are unvaccinated. It's largely become a disease of the unvaccinated 0:07:33.440 --> 0:07:36.800 now and it's not something where we see I see 0:07:36.800 --> 0:07:38.640 you is kind of busting at the seams or very 0:07:38.640 --> 0:07:41.280 many patients at all. UH. So it's a really good 0:07:41.480 --> 0:07:43.880 situation we're in with COVID, But what we are starting 0:07:43.920 --> 0:07:46.360 to see our other respiratory viruses kicked back up. Other 0:07:46.400 --> 0:07:49.480 coronavirus is not COVID nineteen, but others r s V. 0:07:49.680 --> 0:07:53.000 The CDC just released a health alert about rs V 0:07:53.200 --> 0:07:56.160 increasing in the South. That's a childhood viral illness. So 0:07:56.400 --> 0:07:59.680 we are seeing some normalcy returning to our to the 0:07:59.760 --> 0:08:03.640 kind of viral ecology. Whereas people stop social distancing, as 0:08:03.720 --> 0:08:06.239 people put away their masks for good, for good reasons, 0:08:06.240 --> 0:08:08.640 because they're fully vaccinated, you're going to start seeing some 0:08:08.720 --> 0:08:11.440 of our other old, you know, well known pathogens starting 0:08:11.480 --> 0:08:13.400 to come back, and we have to be prepared for 0:08:13.400 --> 0:08:15.760 those as well. Remind me, rs V is that something 0:08:15.800 --> 0:08:19.600 that kids can get vaccinated against. No. Rs V is 0:08:19.600 --> 0:08:22.200 not something kids can get vaccinated against. This is something 0:08:22.200 --> 0:08:24.360 that puts a lot of babies in the hospital, lots 0:08:24.360 --> 0:08:26.960 of young kids. It's often for older people that might 0:08:27.000 --> 0:08:29.760 be more of a bronchitis type of UH symptoms, but 0:08:30.000 --> 0:08:32.200 it's something that kind of plagues children every year. But 0:08:32.240 --> 0:08:34.600 we're starting to see that kick back up, and and 0:08:34.640 --> 0:08:36.720 I suspect you're going to start seeing cold people have 0:08:36.920 --> 0:08:39.240 been going a year without having any colds. Those are 0:08:39.240 --> 0:08:41.680 going to start coming back. And I've increasingly seen people 0:08:41.679 --> 0:08:44.840 who have viruses who have symptoms that you know, six 0:08:44.880 --> 0:08:47.080 months ago I thought would definitely be COVID, but they're 0:08:47.080 --> 0:08:50.120 testing negative for COVID because they're likely other viruses now 0:08:50.160 --> 0:08:53.160 that are just uh way chomping at the bit basically 0:08:53.200 --> 0:08:55.560 to get back to the work that they do every year. Yeah, 0:08:55.600 --> 0:08:57.840 it's it's it's interesting. It's not it's not good news 0:08:57.840 --> 0:09:00.319 by any means, but it is one measure of return 0:09:00.360 --> 0:09:03.839 to normalcy, right. Yeah. I don't think it's it's not 0:09:03.960 --> 0:09:06.360 good news, obviously, we don't. These are disruptive things. People 0:09:06.400 --> 0:09:08.719 get hospitalized with them, but it's something that you know, 0:09:08.800 --> 0:09:11.280 in the past, we it was very hard to even 0:09:11.400 --> 0:09:13.960 see any other viruses, which because COVID was so dominant 0:09:14.200 --> 0:09:16.960 and dominating the whole viral landscape that I think I 0:09:17.000 --> 0:09:20.119 took care of one flu influenza patient during this whole 0:09:20.240 --> 0:09:24.160 uh this pandemic. That's very very rare. So this tells 0:09:24.200 --> 0:09:26.000 you that you know, COVID is receiving that. This is 0:09:26.040 --> 0:09:28.440 a real signal that we're seeing with cases dropping and 0:09:28.480 --> 0:09:31.080 people getting back to life. And part of getting back 0:09:31.120 --> 0:09:33.520 to life is dealing with the respiratory viruses that we 0:09:33.520 --> 0:09:35.800 deal with every year, and eventually COVID is going to 0:09:35.880 --> 0:09:37.800 be one of those respiratory viruses that we deal with 0:09:37.840 --> 0:09:40.520 every year. Yeah, that's that's what we do. Keep hearing 0:09:40.559 --> 0:09:43.640 from experts like yourself, Dr Dlja. You you you mentioned 0:09:43.920 --> 0:09:46.640 what kids are are you what kids are being infected with? 0:09:46.679 --> 0:09:49.360 What you're seeing when you do your rounds. I'm I'm 0:09:49.360 --> 0:09:52.160 wondering back to coronavirus about how we should be thinking 0:09:52.160 --> 0:09:55.520 about vaccinating kids, especially those under twelve as we as 0:09:55.559 --> 0:09:57.760 we do know, there are trials happening in the United 0:09:57.760 --> 0:10:01.199 States to test the efvocacy and safe d of coronavirus 0:10:01.280 --> 0:10:04.440 vaccines and kids. Do you expect that that those will 0:10:04.440 --> 0:10:08.320 get approved for emergency use authorization? I do expect that 0:10:08.360 --> 0:10:11.000 they will get approved, likely at a lower dose. What's 0:10:11.000 --> 0:10:13.760 going on right now is that the clinical clinical trials, 0:10:13.760 --> 0:10:16.600 there will be data coming from there on both safety 0:10:16.600 --> 0:10:18.640 and efficacy, and I suspect that the FDA and the 0:10:18.679 --> 0:10:21.640 CDC will will recommend that for children. I think, you know, 0:10:21.679 --> 0:10:23.280 it's important to remember that you have to do trials 0:10:23.320 --> 0:10:25.080 in different age groups because as you get to those 0:10:25.200 --> 0:10:28.040 younger age groups, the risk of severe disease from COVID 0:10:28.080 --> 0:10:31.600 nineteen becomes very very small, and the risk of transmission 0:10:31.640 --> 0:10:35.040 of COVID nineteen from small children is also low. So 0:10:35.160 --> 0:10:37.880 there is the benefits of the vaccine are more blunted 0:10:37.960 --> 0:10:39.600 in a six year old than they are in a 0:10:39.640 --> 0:10:41.760 sixty year old. So that's why we have to do 0:10:41.800 --> 0:10:43.920 special trials. We have to have special discussions about the 0:10:43.960 --> 0:10:45.760 dosing and all of that. And I think it's going 0:10:45.800 --> 0:10:48.360 to progress, and I think we'll get there eventually. Uh, 0:10:48.440 --> 0:10:51.079 the impact is going to be more so on getting 0:10:51.120 --> 0:10:53.959 children back into activities in a safer manner because mostly 0:10:53.960 --> 0:10:57.280 because of the adults being kind of fearful of COVID nineteen, 0:10:57.360 --> 0:11:00.080 rather than actually like a huge epidemiological impact or going 0:11:00.120 --> 0:11:02.120 to see when we vaccinate below the age of twelve. 0:11:02.600 --> 0:11:04.240 When do you expect a date that we'll start to 0:11:04.240 --> 0:11:08.360 see this? Just in the last ten seconds, I've heard 0:11:08.440 --> 0:11:11.440 rumors that this likely will be before Thanksgiving. When when 0:11:11.440 --> 0:11:14.600 we'll see that? Dr Amischadales, Senior scholar, an infectious disease 0:11:14.600 --> 0:11:16.880 physician at the Center for Health Security the Johns Hopkins 0:11:16.920 --> 0:11:19.400 Bloomberg School of Public Health. He joins us on the 0:11:19.400 --> 0:11:22.400 phone from Pittsburgh, the Johns Hopkins Bloomberg School of Public 0:11:22.400 --> 0:11:24.520 Health that is supported by Michael R. Bloomberg, founder of 0:11:24.520 --> 0:11:29.520 Bloomberg LP and Bloomberg Philanthropies. This is Bloomberg Business Week 0:11:29.679 --> 0:11:33.600 with Carol Messer and Bloomberg Quick Takes Tim Stinovic on 0:11:33.760 --> 0:11:36.400 Bloomberg Radio. Well. A story in the new issue of 0:11:36.440 --> 0:11:40.079 Bloomberg Business Week magazine required national correspondent Josh Green to 0:11:40.360 --> 0:11:42.880 head south to Florida, where he spoke to many of 0:11:42.920 --> 0:11:46.800 those who have been lured south by sunshine, golf and money. 0:11:46.840 --> 0:11:49.079 A lot of them the former president's allies and hanger on, 0:11:49.320 --> 0:11:51.880 and they've formed an alternate universe that revolves around none 0:11:51.920 --> 0:11:55.040 other than Mara Lago. Joining me now is Josh Green, 0:11:55.120 --> 0:11:58.080 National correspondent at Bloomberg Business Week. He joins us on 0:11:58.080 --> 0:12:00.640 the phone from Washington, d C. All of Joel Webber, 0:12:00.800 --> 0:12:02.719 editor of Bloomberg Business Week. He's here with me in 0:12:02.760 --> 0:12:07.280 the Bloomberg Interactive Broker Studio. Joel. There was the question 0:12:07.320 --> 0:12:10.679 of what the post Trump president post presidency Trump would 0:12:10.720 --> 0:12:13.960 look like. And it turns out that he's still very 0:12:14.040 --> 0:12:17.200 much active in a kingmaker. I kind of don't think 0:12:17.280 --> 0:12:22.600 anybody saw what's what what what this now looks like coming? Um, 0:12:22.640 --> 0:12:25.680 And that's why when Josh mentioned that he wanted to 0:12:25.720 --> 0:12:28.800 do this story, uh, we were like, yes, yes, get 0:12:28.800 --> 0:12:30.480 on a plane. And he goes, I'm not vaccinated. I 0:12:30.559 --> 0:12:32.960 can't do it yet. And this was obviously months ago, 0:12:33.240 --> 0:12:35.200 and we were like, get vaccinated as quickly as you can. 0:12:35.320 --> 0:12:37.959 He was like, I'm trying. And when he finally got vaccinated, 0:12:38.040 --> 0:12:40.320 it all worked out and we got him down there. Um, Josh, 0:12:40.360 --> 0:12:43.840 tell us about what you found in South Florida. Yeah, well, 0:12:43.960 --> 0:12:45.920 I mean basically I went down to kind of solve 0:12:46.280 --> 0:12:48.120 a mystery that a lot of people have wondered about, 0:12:48.160 --> 0:12:50.480 which was, you know, after after January six, a lot 0:12:50.520 --> 0:12:53.160 of people wondered, will Trump maintain his grip on the 0:12:53.160 --> 0:12:55.680 party or will he kind of dwindle into insignificance. A 0:12:55.679 --> 0:12:58.000 lot of Republicans I talked to you back then, I 0:12:58.080 --> 0:12:59.680 thought he was just going to kind of go away 0:12:59.720 --> 0:13:02.120 and be forgotten about. But he hasn't been. And so 0:13:02.160 --> 0:13:04.920 I went down to Florida. To kind of investigator his world. 0:13:05.000 --> 0:13:08.240 What I found was, um, you know, Trump isn't like 0:13:08.360 --> 0:13:11.720 any typical ex president. He he really lives down in 0:13:11.760 --> 0:13:13.839 Mori Lago, kind of like I describe him as a 0:13:13.920 --> 0:13:17.760 foreign monarch cast into exile, because not only is Trump 0:13:17.840 --> 0:13:20.880 down in more Lago, but a big contingent of the 0:13:20.880 --> 0:13:25.439 Republican Party, including his own family and kind of ancillary 0:13:25.520 --> 0:13:29.160 Fox News figures, have moved down there with him. So 0:13:29.240 --> 0:13:31.880 it's sort of like, you know, an administration out of 0:13:31.920 --> 0:13:35.880 tower that has nonetheless managed to tighten its grip on 0:13:35.920 --> 0:13:38.199 the Republican Party at the time, and many people thought 0:13:38.240 --> 0:13:41.520 after the riots and the deadly violence on the Capitol 0:13:41.600 --> 0:13:44.000 that the party might move on from Trump. Yeah, well, 0:13:44.040 --> 0:13:46.240 I think there's probably no better example of the party 0:13:46.240 --> 0:13:49.080 not moving on from Trump than the physical moving of 0:13:49.200 --> 0:13:52.760 people from parts of Florida to other parts of Florida. 0:13:53.000 --> 0:13:55.960 You spoke to Eddie Vale, a Democratic strategist, who said, 0:13:55.960 --> 0:13:58.520 think about how bizarre that is, referring to Ivanka Trump, 0:13:58.520 --> 0:14:01.960 Sean Hannity, Neil Cavudo, Kevin Carthy, all people who have 0:14:02.120 --> 0:14:04.840 made their way down to this part of Florida. He said, 0:14:04.840 --> 0:14:07.440 it's like if Rachel Maddow and the Pod Save America 0:14:07.480 --> 0:14:10.520 guys all bought condos in Chicago because they wanted to 0:14:10.559 --> 0:14:13.240 be close to Barack Obama. How does this represent the 0:14:13.280 --> 0:14:16.960 future of the of the Republican Party. I mean, I 0:14:16.960 --> 0:14:20.840 think what it shows symbolically is that Trump is still 0:14:20.880 --> 0:14:23.000 the center of gravity, and then he isn't going to 0:14:23.120 --> 0:14:25.960 see the spotlight. I mean. One of the remarkable things 0:14:26.000 --> 0:14:29.480 about Trump's post presidency that I think we don't really 0:14:29.520 --> 0:14:32.880 step back and think about is that if you look 0:14:32.920 --> 0:14:35.880 at the last to one term presidents, you know, Jimmy Carter, 0:14:36.880 --> 0:14:41.480 George H. W. Bush, they were immediately branded as losers 0:14:41.520 --> 0:14:44.080 by their own party, which which was eager to move 0:14:44.120 --> 0:14:46.640 on from them and did so. And yet Trump, even 0:14:46.640 --> 0:14:51.200 though lost reelection by seven million votes, has managed to 0:14:51.240 --> 0:14:53.720 maintain a grip not just on the party, I mean, 0:14:53.720 --> 0:14:57.360 not just on kind of the institutional party, um, but 0:14:57.480 --> 0:15:01.640 on right wing media, on the hearts and minds of activists. UM. 0:15:01.720 --> 0:15:03.160 You know, all you have to do is look at 0:15:03.200 --> 0:15:07.240 House Minority Leader Kevin McCarthy, who criticized Trump in the 0:15:07.280 --> 0:15:11.760 wake of the insurrection, going back uh two weeks later 0:15:11.880 --> 0:15:14.800 tomorrow Lago to visit and try to raise money and 0:15:14.880 --> 0:15:17.680 kind of bend the knee to Trump to see that. 0:15:17.720 --> 0:15:20.920 You know, Republican politicians they're not going to stand up 0:15:20.920 --> 0:15:23.000 for him to him, and not only that, if you 0:15:23.040 --> 0:15:26.360 look at the direction of Republican policy, you know across 0:15:26.440 --> 0:15:29.640 the country and states across the country, there are new 0:15:29.760 --> 0:15:33.240 voter restriction laws in the works. All of this is 0:15:33.240 --> 0:15:37.440 a reflection of Trump's influence continuing influence on the party. Josh, 0:15:37.480 --> 0:15:41.200 you spoke to, uh, almost everybody I I could think 0:15:41.240 --> 0:15:43.520 of that you could that you could have quoted in 0:15:43.520 --> 0:15:45.960 the story you did. And I'm just wondering, you know, 0:15:46.040 --> 0:15:49.480 everybody from from Sean Spicer who's down there, like on 0:15:49.600 --> 0:15:52.440 down who is your most favorite person to speak to? 0:15:52.880 --> 0:15:57.080 Who gave you your most favorite insight? You know, I 0:15:57.440 --> 0:15:59.320 I think that the guy I like most and he 0:15:59.440 --> 0:16:02.160 is a key character with a memorable scene in the 0:16:02.200 --> 0:16:05.520 piece as a former White House spokesman named Hogan Gidley 0:16:05.600 --> 0:16:10.720 who was hanging out shirtless pool side at one of 0:16:10.720 --> 0:16:13.760 the hot Trump hotels down there. Uh. You know, Hogan 0:16:13.800 --> 0:16:15.840 had done a swing through there to raise money for 0:16:15.880 --> 0:16:19.120 a pro Trump group that he started. But he really 0:16:19.160 --> 0:16:23.440 explained the kind of sociology and taxonomy of the extended 0:16:23.480 --> 0:16:26.800 Trump universe. And I came away understanding that it isn't 0:16:26.840 --> 0:16:29.680 just that politicians are afraid of Trump. It's that the 0:16:29.840 --> 0:16:33.840 entire Republican consulting infrastructure, at least a large part of it, 0:16:33.880 --> 0:16:37.440 remains dependent on Trump for their livelihood. They can't go 0:16:37.480 --> 0:16:40.880 and get jobs at Uber and Amazon like Obama administration 0:16:40.920 --> 0:16:43.800 officials did. They're they're sort of considered radioactive, I think, 0:16:43.880 --> 0:16:47.600 especially after January six, and so they've gone out and 0:16:47.720 --> 0:16:52.440 started conservative groups to push things like voter restrictions. Um, 0:16:52.480 --> 0:16:55.440 they are very Trumpian and in doing so it kind 0:16:55.440 --> 0:16:58.520 of created a very real power structure that allows Trump 0:16:58.560 --> 0:17:01.280 to maintain his hold over the party. Uh and as I, 0:17:01.480 --> 0:17:04.199 as I say in the piece, position himself as the 0:17:04.200 --> 0:17:08.320 front runner in that's what he designs to do. The 0:17:08.320 --> 0:17:12.360 the line that Gidley gave gave you while uh while 0:17:12.400 --> 0:17:15.959 drinking what beverage? What beverage was not rush virgin virgin 0:17:16.040 --> 0:17:19.199 Barry spritzer. It sounds like soda. He wanted to emphasize 0:17:19.240 --> 0:17:21.560 it was virgin, not alcoholic, because it was like a 0:17:21.640 --> 0:17:24.080 ten in the morning. Um, So, so let the record 0:17:24.119 --> 0:17:27.400 show that that Gidley wasn't drinking alcohol. Um, but it's 0:17:27.440 --> 0:17:30.639 a very delicious sixteen dollar version, very spriss. But the 0:17:31.280 --> 0:17:33.560 line I just the or the quote that he gave 0:17:33.600 --> 0:17:35.920 you was so memorable to me. But you never take 0:17:35.960 --> 0:17:38.040 your line out of the water while the fish are 0:17:38.080 --> 0:17:40.560 still biting. And I just like, I got it, I 0:17:40.640 --> 0:17:42.720 got it when you when you did that so so 0:17:43.000 --> 0:17:45.119 and it really sums it up. That's that's that's what 0:17:45.200 --> 0:17:47.800 all the that's what all these Republicans consultants are doing. 0:17:47.800 --> 0:17:51.280 They understand that their livelihood still flows from Trump, and 0:17:51.359 --> 0:17:56.000 so they're they're response accordingly, what is this portend for two? 0:17:56.040 --> 0:18:01.680 And then well for too? It's clear. You know, when 0:18:01.680 --> 0:18:03.720 I was down there, I spoke to everybody, from former 0:18:03.800 --> 0:18:09.600 staffers to big billionaire Trump donors to consultants, and everyone 0:18:09.640 --> 0:18:13.480 for their own parochial reason is really depending on Trump 0:18:13.560 --> 0:18:17.000 to bring out the Republican vote in twenty two. They 0:18:17.040 --> 0:18:18.800 all want to, They all want Republicans to win back 0:18:18.840 --> 0:18:21.560 the House of Representatives, which I think is quite likely, 0:18:21.600 --> 0:18:24.640 but they understand, um, they need Trump to pull out 0:18:24.680 --> 0:18:26.800 as voters. So they have a kind of an instrumental 0:18:26.960 --> 0:18:29.200 youth for Trump that I think helps keep them front 0:18:29.240 --> 0:18:32.320 and center. The interesting dilemma for them is most of 0:18:32.359 --> 0:18:34.879 these people I think did not do not want Trump 0:18:34.960 --> 0:18:38.440 to run in four because they don't think he can win, 0:18:38.920 --> 0:18:41.919 and they're sort of stuck because nobody really has a 0:18:41.920 --> 0:18:45.320 convincing story for how they can use him next year. Uh, 0:18:45.320 --> 0:18:47.560 and then get rid of them before four. Well. It 0:18:47.600 --> 0:18:50.639 is a fantastic feature. That is any new issue of 0:18:50.640 --> 0:18:54.320 Bloomberg Business Week magazine. It's also Today's Bloomberg Big Take story. 0:18:54.359 --> 0:18:56.480 You can read more at Bloomberg dot Com slash of 0:18:56.560 --> 0:18:59.840 business Week. That's Josh Green, national correspondent at Bloomberg Business 0:18:59.880 --> 0:19:02.600 we and Joel Webber, Editor of Bloomberg Business Week, with 0:19:02.640 --> 0:19:06.439 me in the Bloomberg Interactive Broker Studio. This is Bloomberg 0:19:06.480 --> 0:19:10.160 Business Week with Carol Masser and Bloomberg Quick Takes Tim 0:19:10.200 --> 0:19:14.600 Stinovic on Bloomberg Radio. Well, in the fomo economy, everyone 0:19:15.000 --> 0:19:19.960 is making money, but you, whether you're into memestocks, crypto 0:19:20.119 --> 0:19:23.000 or real estate, buying seems driven by as much by 0:19:23.040 --> 0:19:26.840 anxiety by hope. Even professional investors who know better can't 0:19:26.840 --> 0:19:30.520 resist getting in on the action. It's the cover story 0:19:30.600 --> 0:19:33.040 for the international cover of the new issue of Bloomberg 0:19:33.080 --> 0:19:35.320 Business Week magazine. And you can read it at Bloomberg 0:19:35.320 --> 0:19:37.960 dot com. Slash of Business Week. Joining me now from 0:19:38.119 --> 0:19:42.640 Paris is Leonel Laurent, columnist at Bloomberg Opinion. Leonol, it's 0:19:42.640 --> 0:19:45.280 so great to have you back with us. What is 0:19:45.320 --> 0:19:50.520