1 00:00:00,560 --> 00:00:05,279 Speaker 1: Live from our nations. How do we reopen this economy? 2 00:00:05,400 --> 00:00:08,520 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,600 --> 00:00:11,600 Speaker 1: does this do from the United States relationship with China? 4 00:00:11,760 --> 00:00:16,720 Speaker 1: Bloomberg Sound on, the insiders, the influencers, the insides. We're 5 00:00:16,720 --> 00:00:19,919 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:20,040 --> 00:00:23,560 Speaker 1: never before. You're looking at seventy Kennedy for different vaccines. 7 00:00:23,680 --> 00:00:26,360 Speaker 1: How do we make sure a pandemic of this gale 8 00:00:26,400 --> 00:00:30,680 Speaker 1: never happens again? This is Bloomberg Sound On with kevin'sur 9 00:00:30,720 --> 00:00:34,640 Speaker 1: relate on Bloomberg one and one oh five point seven 10 00:00:34,760 --> 00:00:37,680 Speaker 1: f m h D two. President Trump moving to revoke 11 00:00:37,880 --> 00:00:42,400 Speaker 1: Hong Kong's trade status, this stoking China ripped even further 12 00:00:42,640 --> 00:00:45,400 Speaker 1: and the latest out of Minneapolis. We're going to check 13 00:00:45,400 --> 00:00:48,040 Speaker 1: in with the Washington Post. James Holman. What does it 14 00:00:48,159 --> 00:00:52,519 Speaker 1: all mean for Marianne Williamson is in the house. She 15 00:00:52,640 --> 00:00:56,200 Speaker 1: will give us her take and a complete update on 16 00:00:56,440 --> 00:01:00,120 Speaker 1: what is going on with the economy. A lot to 17 00:01:00,240 --> 00:01:03,880 Speaker 1: get through on what has been a dizzying newsday inside 18 00:01:03,920 --> 00:01:05,800 Speaker 1: of the nation's capital. I'll tell you what I heard 19 00:01:05,840 --> 00:01:09,680 Speaker 1: about on Capitol Hill from Congressman Brad Sherman as well. 20 00:01:10,200 --> 00:01:12,319 Speaker 1: You know, I started off the morning I got off 21 00:01:12,400 --> 00:01:15,400 Speaker 1: of Bloomberg Surveillance and I thought, I gotta get my coffee. 22 00:01:15,680 --> 00:01:17,800 Speaker 1: So I go to Starbucks. You know, not wah wah, 23 00:01:17,880 --> 00:01:20,479 Speaker 1: because it's closer. So I go in and I'm used 24 00:01:20,480 --> 00:01:23,880 Speaker 1: to the curbside pickup folks. Next thing I know, they say, no, 25 00:01:24,040 --> 00:01:26,360 Speaker 1: you can come in, and I got filled with tears. 26 00:01:26,680 --> 00:01:29,400 Speaker 1: I thought, I can go into a coffee shop. Mayor Bowser, 27 00:01:29,480 --> 00:01:33,560 Speaker 1: Mayor Muriel Bowser, Democrat, mayor of the city. It's all 28 00:01:33,640 --> 00:01:37,040 Speaker 1: in full effect, folks. We can now go into coffee shop. See, 29 00:01:37,080 --> 00:01:39,200 Speaker 1: we're making it through. We're gonna get to a very 30 00:01:39,240 --> 00:01:41,280 Speaker 1: special guest, Maria and Williamsons here. You moved to d 31 00:01:41,400 --> 00:01:44,640 Speaker 1: C yesterday or recently. Yeah, well, we have a lot 32 00:01:44,720 --> 00:01:47,200 Speaker 1: to catch up on, my fach. So we're gonna hold that. 33 00:01:47,360 --> 00:01:50,960 Speaker 1: Because it was a dizzy, dizzying news day. And that's 34 00:01:50,960 --> 00:01:54,000 Speaker 1: why I'm so grateful to have James Holman, national political 35 00:01:54,080 --> 00:01:56,440 Speaker 1: correspondent for the Washington Post and author of the daily 36 00:01:56,520 --> 00:01:59,120 Speaker 1: two oh two. James, you must have had a busy 37 00:01:59,240 --> 00:02:02,600 Speaker 1: day as well. Let's start with the president's decision to 38 00:02:03,040 --> 00:02:06,960 Speaker 1: revoke Hong Kong trade status. It wasn't much of a 39 00:02:07,040 --> 00:02:09,760 Speaker 1: press conference this afternoon in the Rose Garden. He just 40 00:02:09,919 --> 00:02:13,440 Speaker 1: spoke for about ten minutes. But this is a monumental 41 00:02:13,639 --> 00:02:18,480 Speaker 1: shift in US China policy, is it not, James, Yeah, Kevin, 42 00:02:18,520 --> 00:02:21,480 Speaker 1: it's a huge shift, and it really is uh. You know, 43 00:02:21,600 --> 00:02:24,680 Speaker 1: for Hong Kong, they see it a double edged sword, 44 00:02:24,960 --> 00:02:28,280 Speaker 1: where this is the kind of the end of Hong 45 00:02:28,400 --> 00:02:32,040 Speaker 1: Kong as a second system. And the president, you know, 46 00:02:32,120 --> 00:02:34,239 Speaker 1: we always have to see the fine print and we 47 00:02:34,240 --> 00:02:36,799 Speaker 1: always have to see what actually happened. He nodded that 48 00:02:36,880 --> 00:02:40,200 Speaker 1: there will be a few exceptions. We don't know fully 49 00:02:40,240 --> 00:02:42,600 Speaker 1: what those exceptions are. But the president taking a very 50 00:02:42,680 --> 00:02:46,480 Speaker 1: hard line against Hong Kong as part of UH, we've 51 00:02:47,000 --> 00:02:48,880 Speaker 1: much more hard line against China. And it's really notable 52 00:02:48,919 --> 00:02:51,400 Speaker 1: because you know, I wrote a lot last year about 53 00:02:51,440 --> 00:02:55,280 Speaker 1: how during the mass protests UH in the streets, the 54 00:02:55,400 --> 00:02:58,959 Speaker 1: president wasn't taking a hard line. The president, you know, 55 00:02:59,440 --> 00:03:04,239 Speaker 1: wasn't speaking up for the demonstrators, and so this was 56 00:03:04,320 --> 00:03:08,239 Speaker 1: kind of a jarring shift after after how cautious he 57 00:03:08,440 --> 00:03:11,120 Speaker 1: was all of last year. And you can't separate this 58 00:03:11,280 --> 00:03:14,480 Speaker 1: or divorce this from the China's the Communist Party of 59 00:03:14,560 --> 00:03:19,000 Speaker 1: China's lack of transparency uh from COVID nineteen. You know, 60 00:03:19,040 --> 00:03:20,959 Speaker 1: I was up on Capitol Hill earlier today, James, and 61 00:03:21,000 --> 00:03:24,480 Speaker 1: I was speaking with Congressman Brad Sherman, a Democrat from California, 62 00:03:24,760 --> 00:03:26,519 Speaker 1: and I asked him point blank, I said, you know, 63 00:03:27,200 --> 00:03:31,000 Speaker 1: did COVID nineteen and China's lack of transparency around this 64 00:03:31,720 --> 00:03:34,680 Speaker 1: really lead to some of these policies that we're seeing 65 00:03:34,720 --> 00:03:37,480 Speaker 1: And he said yes. I mean, he was really candid 66 00:03:37,520 --> 00:03:40,800 Speaker 1: about this. And he's a Democrat, he's a liberal. He said, Look, 67 00:03:40,840 --> 00:03:43,600 Speaker 1: a lot of Democrats want to turn turn around every 68 00:03:43,640 --> 00:03:46,080 Speaker 1: time the President tweets, but he's you know, on the 69 00:03:46,240 --> 00:03:50,000 Speaker 1: issue of China. Whether it's Mark Warner, whether it's Brad Sherman, 70 00:03:50,120 --> 00:03:54,200 Speaker 1: whether it's Chris Van Holland, they're all aligned. And understand 71 00:03:54,280 --> 00:03:57,560 Speaker 1: that what we're watching right now is a significant change 72 00:03:57,600 --> 00:04:00,640 Speaker 1: and how the United States conducts it's four and policy 73 00:04:00,920 --> 00:04:03,280 Speaker 1: with China, not how the Republicans do it, not how 74 00:04:03,320 --> 00:04:06,280 Speaker 1: the Democrats do it, but collectively, how the United States 75 00:04:06,360 --> 00:04:09,200 Speaker 1: do it. And you know, let's not forget that there 76 00:04:09,240 --> 00:04:13,200 Speaker 1: were hundreds, more than two hundred businesses, James, that we're 77 00:04:13,480 --> 00:04:17,760 Speaker 1: trading on US exchanges from China not having to do disclosures. 78 00:04:17,800 --> 00:04:20,400 Speaker 1: And that's what Congressman Sherman is working on a Democrat 79 00:04:20,480 --> 00:04:23,400 Speaker 1: with Republicans. So I asked him if more legislation is 80 00:04:23,440 --> 00:04:25,560 Speaker 1: gonna come out, James, He says congress he and Congressman 81 00:04:25,640 --> 00:04:32,200 Speaker 1: Yoho are actually developing additional legislation regarding China's interment camps 82 00:04:32,240 --> 00:04:36,800 Speaker 1: for the weaker religious people. I mean, it's so from 83 00:04:36,880 --> 00:04:39,640 Speaker 1: your reporting, James, what can you tell us about how 84 00:04:39,760 --> 00:04:42,000 Speaker 1: Republicans and Democrats are are kind of on the same 85 00:04:42,040 --> 00:04:46,400 Speaker 1: page on this. Yeah, Kevin, it really is remarkable because 86 00:04:46,440 --> 00:04:49,120 Speaker 1: it does feel like this is the sort of the 87 00:04:49,240 --> 00:04:52,800 Speaker 1: beginning of a new Cold War with Beijing, and the 88 00:04:53,279 --> 00:04:57,960 Speaker 1: attitude really has shifted so dramatically on Capitol Hill in 89 00:04:58,040 --> 00:05:01,320 Speaker 1: a in a really bipartisan way. Uh. And I think 90 00:05:01,400 --> 00:05:04,800 Speaker 1: that this coronavirus and the lack of transparency really was 91 00:05:05,600 --> 00:05:08,920 Speaker 1: the tipping point that that pushed us this direction. Okay, 92 00:05:09,000 --> 00:05:11,920 Speaker 1: and the United States will also terminate its support for 93 00:05:12,000 --> 00:05:16,160 Speaker 1: the World Health Organization, the President said earlier this afternoon. 94 00:05:16,200 --> 00:05:20,000 Speaker 1: He claims the agency has been manipulated by Beijing during 95 00:05:20,080 --> 00:05:23,839 Speaker 1: the pandemic and was under the total control of China. 96 00:05:24,279 --> 00:05:26,040 Speaker 1: Do we know specifically, are we're going to have to 97 00:05:26,120 --> 00:05:28,760 Speaker 1: wait a couple of days to find out what terminating 98 00:05:28,839 --> 00:05:32,280 Speaker 1: the support for the w h O means. Yes, so 99 00:05:32,320 --> 00:05:34,200 Speaker 1: we're gonna have to wait a little bit, you know. 100 00:05:34,320 --> 00:05:37,320 Speaker 1: The this has been a point of contention, and as 101 00:05:37,440 --> 00:05:39,720 Speaker 1: you know, and we know from our reporting inside the 102 00:05:39,760 --> 00:05:42,040 Speaker 1: White House, which is, you know, do you take ninety 103 00:05:42,080 --> 00:05:44,280 Speaker 1: percent of the money away so that you still have 104 00:05:44,360 --> 00:05:46,400 Speaker 1: a seat at the table and you're still getting some 105 00:05:46,520 --> 00:05:48,520 Speaker 1: of the work products that they're putting out, or you 106 00:05:48,640 --> 00:05:52,360 Speaker 1: really cut them off completely the president you know, again 107 00:05:52,560 --> 00:05:55,760 Speaker 1: the details always in the fine print, the President announcing 108 00:05:55,800 --> 00:05:59,280 Speaker 1: we're cutting them off completely. But we'll see what that 109 00:05:59,640 --> 00:06:01,840 Speaker 1: that stually it looks like. And we'll see if you know, 110 00:06:01,880 --> 00:06:04,520 Speaker 1: a notice actually goes to the w h O. Obviously 111 00:06:04,560 --> 00:06:08,560 Speaker 1: there's value when it comes to public health to cooperating, 112 00:06:08,640 --> 00:06:10,960 Speaker 1: but the Chinese have clearly been in the driver's seat 113 00:06:11,000 --> 00:06:15,680 Speaker 1: there and uh, you know, and the US government does 114 00:06:15,760 --> 00:06:17,920 Speaker 1: feel like at the very least, the w h O 115 00:06:18,040 --> 00:06:22,040 Speaker 1: needs significant reforms, and so this might give us some leverage, 116 00:06:22,800 --> 00:06:26,159 Speaker 1: uh to exact, you know, to negotiate some some changes 117 00:06:26,200 --> 00:06:28,400 Speaker 1: at the organization we're gonna check in with Johnson. Lady's 118 00:06:28,440 --> 00:06:30,560 Speaker 1: coming up later on in the program of a career 119 00:06:30,720 --> 00:06:33,440 Speaker 1: long State Department official. He's going to give us another 120 00:06:33,560 --> 00:06:36,120 Speaker 1: update and another look at the Hong Kong issue. James 121 00:06:36,320 --> 00:06:38,719 Speaker 1: Holmans on the line. He is a national political reporter 122 00:06:38,760 --> 00:06:40,480 Speaker 1: for the Washington Post, of course, the author of the 123 00:06:40,520 --> 00:06:43,080 Speaker 1: Daily two oh two, a must read here inside of 124 00:06:43,080 --> 00:06:47,600 Speaker 1: the Beltway. James, let's turn to domestic politics and race relations, 125 00:06:47,680 --> 00:06:49,720 Speaker 1: and we'll get Mary and Williamson to talk about this 126 00:06:49,800 --> 00:06:54,440 Speaker 1: as well coming up. But the President, I mean, how 127 00:06:54,560 --> 00:06:57,560 Speaker 1: has what are you hearing from your sources close to 128 00:06:57,640 --> 00:07:00,160 Speaker 1: the White House about how they feel the as it 129 00:07:00,240 --> 00:07:05,960 Speaker 1: it has handled Minneapolis and these tweets. Well, I just 130 00:07:06,040 --> 00:07:12,320 Speaker 1: think there's a lot of there's a lot of bafflement, frustration. 131 00:07:12,400 --> 00:07:14,600 Speaker 1: But also I mean, I think you know a lot 132 00:07:14,640 --> 00:07:17,480 Speaker 1: of Republicans actually that I talked to, including some congressional 133 00:07:17,520 --> 00:07:19,760 Speaker 1: Republicans today, don't think it's going to be his back 134 00:07:19,960 --> 00:07:23,480 Speaker 1: for the president. Uh, there were some Republicans I talked 135 00:07:23,480 --> 00:07:25,600 Speaker 1: to who thinks that it might sort of red down 136 00:07:25,680 --> 00:07:29,480 Speaker 1: to his advantage. Uh, that he looks like he's projecting 137 00:07:29,560 --> 00:07:32,480 Speaker 1: calls for law and order and that he uh, you 138 00:07:32,560 --> 00:07:35,840 Speaker 1: know that this issue that would have been a lot 139 00:07:35,920 --> 00:07:40,560 Speaker 1: tougher related to racial discord and justice for George Lloyd 140 00:07:41,040 --> 00:07:44,360 Speaker 1: is now kind of uh, you know, bring the peace, 141 00:07:44,760 --> 00:07:48,880 Speaker 1: you know, law and order situation. So there's actually, um, 142 00:07:50,040 --> 00:07:52,600 Speaker 1: I think people are in some ways kind of desensitized 143 00:07:52,680 --> 00:07:55,080 Speaker 1: to the language that we heard in the President's tweets 144 00:07:55,600 --> 00:07:58,200 Speaker 1: last night. The President cleaned up his language a little bit, 145 00:07:58,240 --> 00:08:01,200 Speaker 1: walked it back this afternoon. Um, you know, on on 146 00:08:01,320 --> 00:08:05,520 Speaker 1: the Democratic side, there's a you know, the focus is 147 00:08:05,640 --> 00:08:08,200 Speaker 1: very much on on kind of the long term racial 148 00:08:08,360 --> 00:08:12,040 Speaker 1: entities in the country and and police brutality. On the 149 00:08:12,080 --> 00:08:15,080 Speaker 1: Republican side, it's very much on kind of the riot 150 00:08:15,440 --> 00:08:18,560 Speaker 1: side of things, and um, you know, in the in 151 00:08:19,200 --> 00:08:23,720 Speaker 1: the kind of chaos and protests, you know, the Precinct 152 00:08:23,760 --> 00:08:27,600 Speaker 1: headquarters in Minneapolis on fire. All right, James Holmon, we're 153 00:08:27,600 --> 00:08:29,000 Speaker 1: gonna have to leave it. There are coming up. We'll 154 00:08:29,040 --> 00:08:32,160 Speaker 1: dive into the tech angle of this as well, censorship 155 00:08:32,400 --> 00:08:35,320 Speaker 1: potentially coming from Twitter, Facebook and Twitter having a very 156 00:08:35,400 --> 00:08:38,480 Speaker 1: different relationship right now with President Trump. James Holmon, thank you, 157 00:08:38,559 --> 00:08:40,480 Speaker 1: my friend. I appreciate it, buddy. Hey, great stuff in 158 00:08:40,480 --> 00:08:41,920 Speaker 1: the Daily two O two you've got to read it. 159 00:08:41,960 --> 00:08:44,640 Speaker 1: You've got to read the Washington Post Daily. Two oh two. 160 00:08:45,160 --> 00:08:48,880 Speaker 1: That's James Silmon, uh, national political reporter for the Washington Post. 161 00:08:48,920 --> 00:08:51,400 Speaker 1: I'm Kevin Cerelei. Marian Williamson is up next. She's here 162 00:08:51,480 --> 00:09:01,920 Speaker 1: in the house. You're listening to Bloomberg. This is Bloomberg 163 00:09:02,120 --> 00:09:06,760 Speaker 1: Sound On with Kevin Surley on Bloomberg and one or 164 00:09:06,880 --> 00:09:10,120 Speaker 1: five point seven f M h D two. In a way, 165 00:09:10,160 --> 00:09:12,120 Speaker 1: I think part of the value of this situation is 166 00:09:12,160 --> 00:09:15,160 Speaker 1: it's turned us into a wei And you know, we 167 00:09:15,240 --> 00:09:17,719 Speaker 1: were just a collection of means before. So it's what 168 00:09:17,840 --> 00:09:20,320 Speaker 1: matters for us to what matters for us as a nation, 169 00:09:20,400 --> 00:09:23,160 Speaker 1: and what matters for us as a world um to 170 00:09:23,440 --> 00:09:26,160 Speaker 1: to move our consciousness and you know, we've done so 171 00:09:26,280 --> 00:09:29,040 Speaker 1: much to spiritualize our own personal lives, but now to 172 00:09:29,160 --> 00:09:32,640 Speaker 1: extend that, so it's a spiritualization of the entire world. 173 00:09:32,800 --> 00:09:34,959 Speaker 1: What matters for us as a human race, what matters 174 00:09:35,000 --> 00:09:38,480 Speaker 1: for us as a country. That was my first introduction 175 00:09:38,679 --> 00:09:40,800 Speaker 1: when I was a kid growing up in delko It's 176 00:09:40,960 --> 00:09:45,319 Speaker 1: Maryanne Williamson when she spoke on the Oprah Winfrey Show 177 00:09:46,120 --> 00:09:52,480 Speaker 1: shortly after September eleven, and she spoke about Muslims in America, 178 00:09:53,440 --> 00:09:56,559 Speaker 1: and I thought when I knew she was coming on 179 00:09:56,800 --> 00:09:59,839 Speaker 1: the program today to catch up with us and about 180 00:09:59,880 --> 00:10:02,760 Speaker 1: what she's been up to. But I thought, when I 181 00:10:02,880 --> 00:10:07,240 Speaker 1: was preparing for today's program, with this horrific spasm of 182 00:10:07,440 --> 00:10:11,959 Speaker 1: racial tension in our country coming out of Minneapolis and 183 00:10:12,040 --> 00:10:16,240 Speaker 1: the horrific tragedy of George Floyd, I really couldn't get 184 00:10:16,440 --> 00:10:19,280 Speaker 1: those remarks Marianne out of my mind. And so I 185 00:10:19,440 --> 00:10:23,680 Speaker 1: gotta ask you, as you've been processing what's been happening 186 00:10:23,720 --> 00:10:27,199 Speaker 1: in Minneapolis and what's been happening with the death of 187 00:10:27,320 --> 00:10:34,280 Speaker 1: George Floyd, how have you been processing that what happened 188 00:10:34,440 --> 00:10:37,960 Speaker 1: with George Floyd, this is not just about that. Every 189 00:10:38,040 --> 00:10:40,960 Speaker 1: crisis has to do with more than just the incident 190 00:10:41,400 --> 00:10:44,280 Speaker 1: that explodes. It has to do with the thousands of 191 00:10:44,400 --> 00:10:47,840 Speaker 1: men who preceded him, who met with such lack of justice, 192 00:10:47,920 --> 00:10:50,679 Speaker 1: such lack of mercy. And it's like this was just 193 00:10:50,920 --> 00:10:53,960 Speaker 1: one too many things. When I was running for president, 194 00:10:54,160 --> 00:10:57,599 Speaker 1: I was talking about racial reconciliation quite a bit, a 195 00:10:57,720 --> 00:11:01,040 Speaker 1: solid program of reparations talk, and quite a bit about 196 00:11:01,080 --> 00:11:05,319 Speaker 1: economic injustice towards black people, environmental injustice, towards black people, 197 00:11:05,640 --> 00:11:09,120 Speaker 1: criminal injustice towards black people. This did not just begin. 198 00:11:09,760 --> 00:11:12,719 Speaker 1: So we now have a stage four cancer, but many 199 00:11:12,800 --> 00:11:14,400 Speaker 1: of us were talking about it when it was at 200 00:11:14,440 --> 00:11:17,080 Speaker 1: a stage one and a stage two. I know throughout 201 00:11:17,120 --> 00:11:19,719 Speaker 1: my work for years, in my books, ceteran, certainly my 202 00:11:19,800 --> 00:11:23,000 Speaker 1: political campaign, I was very clear, we better do something 203 00:11:23,040 --> 00:11:25,520 Speaker 1: about this. So this is going to below because the 204 00:11:25,640 --> 00:11:28,719 Speaker 1: pressed people can be oppressed for just so long. You know, 205 00:11:28,840 --> 00:11:31,640 Speaker 1: today as John F. Kennedy's birthday, and he one of 206 00:11:31,760 --> 00:11:37,079 Speaker 1: his lines was those who make peaceful revolution impossible make 207 00:11:37,280 --> 00:11:41,440 Speaker 1: violent revolution inevitable. So there is so much that could 208 00:11:41,480 --> 00:11:43,480 Speaker 1: have been done and that should have been done over 209 00:11:43,559 --> 00:11:47,080 Speaker 1: the last forty and fifty years to continue our journey 210 00:11:47,400 --> 00:11:49,719 Speaker 1: of real racial justice in the United States. And in 211 00:11:49,880 --> 00:11:52,960 Speaker 1: some ways, not only have we not continued a journey 212 00:11:53,000 --> 00:11:55,640 Speaker 1: towards justice, but in many ways we have fallen backwards 213 00:11:55,880 --> 00:11:58,600 Speaker 1: and created more injustice than was even therapy. So here 214 00:11:58,640 --> 00:12:03,840 Speaker 1: we are on a Friday, as every news agency, including 215 00:12:03,840 --> 00:12:08,480 Speaker 1: Blueberg News has been reporting, the protests are now spreading 216 00:12:08,600 --> 00:12:11,199 Speaker 1: around the country. Here we are on the eve of 217 00:12:11,240 --> 00:12:14,520 Speaker 1: a Friday, and you see these images coming out of 218 00:12:14,559 --> 00:12:18,599 Speaker 1: Minneapolis last night. You see the flames. You see the protests, 219 00:12:18,679 --> 00:12:25,040 Speaker 1: you see the anger, the anger. What what type of 220 00:12:25,240 --> 00:12:29,800 Speaker 1: leadership needs to emerge? Not six months from now, not 221 00:12:30,000 --> 00:12:33,640 Speaker 1: four years from now, not in the next cycle, now tonight, 222 00:12:33,880 --> 00:12:37,319 Speaker 1: Friday evening in the communities, in the cities, what do 223 00:12:37,440 --> 00:12:41,160 Speaker 1: the what? What do the community leaders not? They don't 224 00:12:41,200 --> 00:12:45,120 Speaker 1: have titles. The community leaders need to be doing tonight 225 00:12:46,120 --> 00:12:48,760 Speaker 1: in this moment. I've been impressed by the speeches made 226 00:12:48,840 --> 00:12:51,760 Speaker 1: by the mayor of Minneapolis. I've been impressed by the 227 00:12:52,480 --> 00:12:56,199 Speaker 1: words of the Governor of Minnesota. I was certainly um 228 00:12:57,600 --> 00:13:01,360 Speaker 1: I've I felt very satisfied. But the fact that Chauvin 229 00:13:01,880 --> 00:13:05,079 Speaker 1: was taken into custody today and that they did bring 230 00:13:05,200 --> 00:13:08,959 Speaker 1: charges of third degree murder. However, I have seen so 231 00:13:09,080 --> 00:13:12,920 Speaker 1: many tweets from congressman and senators saying this same old, 232 00:13:12,960 --> 00:13:15,760 Speaker 1: same old justice must be done. And if I hear 233 00:13:15,880 --> 00:13:19,840 Speaker 1: one more of those, um uh, it's too It's too 234 00:13:19,960 --> 00:13:22,959 Speaker 1: late for that. It's time for action. The FBI said 235 00:13:23,240 --> 00:13:27,520 Speaker 1: ten years ago that the largest domestic terrorist threat in 236 00:13:27,600 --> 00:13:31,400 Speaker 1: the United States was white nationalism and white supremacy. White 237 00:13:31,440 --> 00:13:36,120 Speaker 1: supremacists have clearly infiltrated now some major American institutions and 238 00:13:36,320 --> 00:13:39,040 Speaker 1: clearly it is legitimate to talk about that in terms 239 00:13:39,080 --> 00:13:42,800 Speaker 1: of American law enforcement. Too many of these situations have occurred. 240 00:13:42,840 --> 00:13:46,440 Speaker 1: Now something is going on. We need full on congressional 241 00:13:46,600 --> 00:13:50,280 Speaker 1: hearings where the FBI gives a full public accounting of 242 00:13:50,440 --> 00:13:53,720 Speaker 1: everything that they know regarding the infiltration of American law 243 00:13:53,840 --> 00:13:58,360 Speaker 1: enforcement by white supremacist groups, almost a special commission. Enough 244 00:13:58,440 --> 00:14:01,079 Speaker 1: with the commission, Okay, enough with the mission because and 245 00:14:01,360 --> 00:14:03,880 Speaker 1: enough with a forum. I I noticed that on the 246 00:14:03,920 --> 00:14:07,360 Speaker 1: presidential campaign, we don't need another commission to to know 247 00:14:07,600 --> 00:14:10,360 Speaker 1: the ravages of slavery. We really kind of get it now. 248 00:14:10,679 --> 00:14:12,800 Speaker 1: It's time to put a number on the table. And 249 00:14:12,960 --> 00:14:16,800 Speaker 1: we don't need another commission about white supremacy in America. 250 00:14:16,880 --> 00:14:19,960 Speaker 1: We can see it with our own eyes. That's right. 251 00:14:20,320 --> 00:14:22,400 Speaker 1: And the and that's part of the problem of leadership 252 00:14:22,480 --> 00:14:25,400 Speaker 1: not talking about it because it's it's making people go insane. 253 00:14:25,480 --> 00:14:27,400 Speaker 1: It's like, you know what this is like this is 254 00:14:27,480 --> 00:14:31,440 Speaker 1: like children in an alcoholic home with alcoholic parents, and 255 00:14:31,640 --> 00:14:33,840 Speaker 1: the kids know that this craziness is going on, and 256 00:14:33,880 --> 00:14:36,360 Speaker 1: the parents aren't speaking to it. As I said, before, 257 00:14:36,760 --> 00:14:40,320 Speaker 1: the FBI first talked about the infiltration of a law 258 00:14:40,440 --> 00:14:44,160 Speaker 1: enforcement by white supremacist groups ten years ago. I remember it, Kevin, 259 00:14:44,280 --> 00:14:47,800 Speaker 1: and I remember how certain politicians suppressed the conversation and 260 00:14:47,880 --> 00:14:50,120 Speaker 1: didn't want to talk about it. We have a problem 261 00:14:50,200 --> 00:14:53,960 Speaker 1: in this country with radicalization, just like the in the 262 00:14:54,000 --> 00:14:59,000 Speaker 1: Middle East, we talked about radicalization into fundamental you know, Islam. 263 00:14:59,320 --> 00:15:03,479 Speaker 1: We have a with radicalization into Nazi and white supremacy 264 00:15:03,560 --> 00:15:07,040 Speaker 1: in this country, and we need to stop pretending it's 265 00:15:07,120 --> 00:15:11,040 Speaker 1: not happening, and it's it's very This is a very 266 00:15:11,160 --> 00:15:15,320 Speaker 1: difficult story to report on for a host of different reasons. 267 00:15:15,400 --> 00:15:19,680 Speaker 1: But the President tweeted what he did, you know, he tweeted, quote, uh, 268 00:15:20,160 --> 00:15:23,520 Speaker 1: the when, when when comes the looting? There's the shooting. Now. 269 00:15:23,600 --> 00:15:25,680 Speaker 1: He has since tweeted in the past hour, and I 270 00:15:25,720 --> 00:15:30,360 Speaker 1: don't want to paraphrase the President's twitter largely being perceived 271 00:15:30,400 --> 00:15:31,760 Speaker 1: as you just said, it is trying to walk back 272 00:15:31,800 --> 00:15:34,160 Speaker 1: with heard from James Hommon. He said three hours ago, 273 00:15:34,200 --> 00:15:36,720 Speaker 1: he tweeted, quote, looting leads to shooting and that's why 274 00:15:36,760 --> 00:15:39,200 Speaker 1: a man was shot and killed in Minneapolis on Wednesday night. 275 00:15:39,320 --> 00:15:41,680 Speaker 1: Or look what just happened in Louisville with seven people shot. 276 00:15:41,920 --> 00:15:44,160 Speaker 1: I don't want this to happen and that's what the 277 00:15:44,240 --> 00:15:46,920 Speaker 1: expression put out last night means. It was spoken as 278 00:15:46,960 --> 00:15:49,720 Speaker 1: a fact, not a statement. It's very simple. Nobody should 279 00:15:49,720 --> 00:15:51,720 Speaker 1: have any problem with this other than the haters and 280 00:15:51,800 --> 00:15:54,560 Speaker 1: those looking to cause trouble on social media. Under the 281 00:15:54,600 --> 00:15:59,200 Speaker 1: memory of George Floyd. I. So there's that. He said 282 00:15:59,240 --> 00:16:01,480 Speaker 1: it is a warning. It was very clear that he 283 00:16:01,640 --> 00:16:03,880 Speaker 1: himself was making a warning. And if we look at 284 00:16:03,920 --> 00:16:07,000 Speaker 1: the whole tweet, that's obvious to any one. So what's 285 00:16:07,600 --> 00:16:10,840 Speaker 1: another layer to this is the President was sparring today 286 00:16:10,920 --> 00:16:14,840 Speaker 1: with Jack Dorsey of Twitter because Twitter last night labeled 287 00:16:14,960 --> 00:16:20,040 Speaker 1: the tweet from the president as inciting violence or glorifying violence. 288 00:16:20,640 --> 00:16:23,000 Speaker 1: That is for it. If that is coming at a 289 00:16:23,080 --> 00:16:25,960 Speaker 1: time in which less than a few hours before, the 290 00:16:26,040 --> 00:16:30,000 Speaker 1: President put out an executive order looking into how social 291 00:16:30,120 --> 00:16:35,120 Speaker 1: media platforms like Twitter and Facebook are censoring or not 292 00:16:35,320 --> 00:16:38,920 Speaker 1: censoring or monitoring some of this hate speech. It is 293 00:16:39,000 --> 00:16:41,520 Speaker 1: a very complex issue. That's why I'm so grateful that 294 00:16:41,560 --> 00:16:43,920 Speaker 1: you're here. We're gonna talk about it. Coming up, We're 295 00:16:43,960 --> 00:16:46,000 Speaker 1: also going to talk about the economy and what your 296 00:16:46,040 --> 00:16:49,080 Speaker 1: plans are for Washington, d C. Maryam Williamson is in 297 00:16:49,160 --> 00:16:51,280 Speaker 1: the house. You can download the Bloomberg sam On podcast 298 00:16:51,320 --> 00:16:54,040 Speaker 1: on Apple it Tunes or Bloomberg dot Com. I'm Kevin Cirelli, 299 00:16:54,120 --> 00:16:56,440 Speaker 1: Chief Washington correspondent for Bloomberg TV and Radio, and you're 300 00:16:56,480 --> 00:17:03,240 Speaker 1: listening to Bloomberg. This is Bloomberg Sound On with Kevin 301 00:17:03,320 --> 00:17:07,520 Speaker 1: Shirley on Bloomberg and one or five point seven f 302 00:17:07,680 --> 00:17:11,520 Speaker 1: m h D two. Kevin Silly, Chief Washington correspondent for 303 00:17:11,560 --> 00:17:15,239 Speaker 1: Bloomberg Television and for Bloomberg Radio. Hey, the restrictions are 304 00:17:15,240 --> 00:17:17,520 Speaker 1: starting to lift, but don't be foolish. You know, we 305 00:17:17,600 --> 00:17:20,000 Speaker 1: still got to wear the masks. You know, you still 306 00:17:20,080 --> 00:17:24,760 Speaker 1: gotta be socially distant. Follow the lines on the It's 307 00:17:24,760 --> 00:17:26,800 Speaker 1: like you're in kindergarten again with all those marking like 308 00:17:26,920 --> 00:17:29,720 Speaker 1: line leader, you know, door holder and line leader, you know, 309 00:17:30,240 --> 00:17:32,760 Speaker 1: get wash Congress Sherman on the hill the day he 310 00:17:32,800 --> 00:17:35,479 Speaker 1: had his masp him with his mask on and an elbow, 311 00:17:35,880 --> 00:17:39,800 Speaker 1: you know, no handshakes, no nothing, nothing. Marian Williamson still here. 312 00:17:39,840 --> 00:17:41,800 Speaker 1: Marianne's great to have you here. Thank you. It's what 313 00:17:41,920 --> 00:17:45,400 Speaker 1: have you been up to since the I mean since 314 00:17:45,480 --> 00:17:47,879 Speaker 1: the pandemic, since the campaign? What if? What is life like? 315 00:17:47,960 --> 00:17:50,760 Speaker 1: For Marian Williamson was the life for Marian Williamson is 316 00:17:50,840 --> 00:17:54,800 Speaker 1: like for everyone else during this pandemic. Um it's emotionally 317 00:17:54,800 --> 00:17:59,440 Speaker 1: and psychologically trying. But I also think that this has 318 00:17:59,480 --> 00:18:05,440 Speaker 1: been a a great reckoning for the United States. And 319 00:18:05,560 --> 00:18:10,080 Speaker 1: I'm very aware that there are millions of people who 320 00:18:10,240 --> 00:18:16,359 Speaker 1: have economic issues and um other other levels of horror 321 00:18:16,800 --> 00:18:20,040 Speaker 1: like avalanches upon them. Right now. We had, even before 322 00:18:20,080 --> 00:18:24,399 Speaker 1: the pandemic, four d of Americans who couldn't afford a 323 00:18:24,440 --> 00:18:28,320 Speaker 1: four hundred dollar unexpected expenditure. And now with all that 324 00:18:28,440 --> 00:18:30,840 Speaker 1: they have gotten for a bailout, is that one time 325 00:18:30,960 --> 00:18:36,920 Speaker 1: twelve hundred dollar UH payout plus an increase in employment, 326 00:18:37,040 --> 00:18:39,399 Speaker 1: how many have not been able to get there unemployment? 327 00:18:39,480 --> 00:18:41,600 Speaker 1: How many were not eligible? You know, when you look 328 00:18:41,640 --> 00:18:45,600 Speaker 1: at that compared to other countries where other countries where 329 00:18:46,119 --> 00:18:49,080 Speaker 1: let's say in England, where of people's salary was given 330 00:18:49,119 --> 00:18:51,680 Speaker 1: to them in a matter of direct cash relief, that's 331 00:18:51,720 --> 00:18:53,720 Speaker 1: a kind of freezing of the economy that we needed. 332 00:18:53,920 --> 00:18:56,159 Speaker 1: You know, you were talking earlier about Hong Kong being 333 00:18:56,200 --> 00:19:00,800 Speaker 1: an a t M for China, in uh nor in Vietnam. 334 00:19:01,480 --> 00:19:03,840 Speaker 1: The way they have handled the pandemic, they have created 335 00:19:03,920 --> 00:19:07,840 Speaker 1: a t M like machines on the streets to dispense rice. So, 336 00:19:08,040 --> 00:19:11,080 Speaker 1: in addition to the horrible eviction problem that so many 337 00:19:11,119 --> 00:19:14,000 Speaker 1: millions of Americans are facing as we speak, there's also 338 00:19:14,200 --> 00:19:17,560 Speaker 1: a hunger issue. We had forty million hungry people in 339 00:19:17,600 --> 00:19:20,920 Speaker 1: the United States even before this happened. I think the 340 00:19:21,080 --> 00:19:23,000 Speaker 1: amount of horror, you know, when you ask me how 341 00:19:23,040 --> 00:19:25,600 Speaker 1: am I doing? It's stressful. What is that compared to 342 00:19:25,960 --> 00:19:28,359 Speaker 1: the millions, tents of millions of Americans for whom this 343 00:19:28,560 --> 00:19:32,000 Speaker 1: is devastating on a level of of the depression. This 344 00:19:32,200 --> 00:19:36,280 Speaker 1: is depression level social social I mean, we were reporting 345 00:19:36,280 --> 00:19:38,479 Speaker 1: on that. I mean, but we had my friends over 346 00:19:38,520 --> 00:19:40,480 Speaker 1: at DC Scores on just the other weekend. One of 347 00:19:40,520 --> 00:19:44,639 Speaker 1: the things that haunts me is this notion of you know, 348 00:19:44,760 --> 00:19:47,159 Speaker 1: DC Scores is such great work for literacy in our 349 00:19:47,480 --> 00:19:50,840 Speaker 1: in the district and uh free after school soccer programs 350 00:19:50,920 --> 00:19:55,359 Speaker 1: for for for students, And it haunts me that one 351 00:19:55,400 --> 00:19:57,719 Speaker 1: of the things they found that so many families right now, 352 00:19:58,200 --> 00:20:00,399 Speaker 1: they might have multiple children in their family and they're 353 00:20:00,400 --> 00:20:03,440 Speaker 1: asking their their sharing their their parents many times a 354 00:20:03,480 --> 00:20:06,359 Speaker 1: single parents cell phone to be educated. I mean, you 355 00:20:06,480 --> 00:20:10,240 Speaker 1: think of that just on a family level. Um, the 356 00:20:10,359 --> 00:20:13,680 Speaker 1: technological divide and are just in America. I mean, it's it's, 357 00:20:13,840 --> 00:20:16,840 Speaker 1: it's we have to try to comprehend it because because 358 00:20:16,920 --> 00:20:19,760 Speaker 1: it might feel incomprehensible, but you know what, for that family, 359 00:20:19,800 --> 00:20:21,200 Speaker 1: they've got to figure it out, So we should have 360 00:20:21,240 --> 00:20:22,879 Speaker 1: to figure it out too. The fact that we have 361 00:20:23,000 --> 00:20:25,399 Speaker 1: not been taking a deeper look at the suffering of 362 00:20:25,480 --> 00:20:27,600 Speaker 1: others is what got us part of what got us 363 00:20:27,640 --> 00:20:31,000 Speaker 1: into this position. We also have a high increase in 364 00:20:31,080 --> 00:20:34,560 Speaker 1: domestic violence because the the the abused is now even 365 00:20:34,640 --> 00:20:37,800 Speaker 1: spending twenty four hours with the abuser, and that includes, 366 00:20:37,840 --> 00:20:40,560 Speaker 1: of course, many children whose only safe space was when 367 00:20:40,600 --> 00:20:41,960 Speaker 1: they went to school. I do want to ask you 368 00:20:42,040 --> 00:20:43,840 Speaker 1: one question before we bring in our next guest into 369 00:20:43,880 --> 00:20:46,160 Speaker 1: the conversation to talk about the economy. But I want 370 00:20:46,200 --> 00:20:49,280 Speaker 1: to ask you about China, the Communist Party of China specifically. 371 00:20:49,280 --> 00:20:52,159 Speaker 1: You and I have talked about this offline, and uh, 372 00:20:52,359 --> 00:20:57,200 Speaker 1: you know, I'm curious for you. Do you must have 373 00:20:57,320 --> 00:20:59,240 Speaker 1: concerned I mean, I know you have concerns about the 374 00:20:59,280 --> 00:21:02,560 Speaker 1: Communist Party. Well, it's interesting. I agree the things you 375 00:21:02,640 --> 00:21:05,320 Speaker 1: were saying on your program earlier during my campaign, people 376 00:21:05,359 --> 00:21:07,679 Speaker 1: would say to me, can you can you say one 377 00:21:07,800 --> 00:21:10,000 Speaker 1: nice thing about Trump? Is there anything you could say 378 00:21:10,000 --> 00:21:12,520 Speaker 1: you agree with him, and I would often say, well, 379 00:21:12,800 --> 00:21:15,360 Speaker 1: I agree with some of his stuff about China. It's 380 00:21:15,560 --> 00:21:20,200 Speaker 1: time somebody stood up to China. How he has done it. 381 00:21:20,440 --> 00:21:23,080 Speaker 1: All of the specifics I don't necessarily always agree with, 382 00:21:23,640 --> 00:21:26,440 Speaker 1: but as you were, as you were reporting earlier, when 383 00:21:26,480 --> 00:21:29,680 Speaker 1: this first, the first problem happened with Hong Kong, I 384 00:21:29,920 --> 00:21:33,040 Speaker 1: was distressed by the by the president's silence and the 385 00:21:33,160 --> 00:21:37,520 Speaker 1: fact that he is taking some action. Um. I agree 386 00:21:37,600 --> 00:21:40,199 Speaker 1: also with the Washington Post reporter who said, let's wait 387 00:21:40,280 --> 00:21:44,520 Speaker 1: and see what's in some of these details. But yes, absolutely, 388 00:21:44,800 --> 00:21:47,040 Speaker 1: whether it has to do the weakers, these these people, 389 00:21:47,119 --> 00:21:48,920 Speaker 1: and of course look what they've been doing to Tibet 390 00:21:49,040 --> 00:21:52,400 Speaker 1: for many, many years. This is not new. They're very 391 00:21:52,520 --> 00:21:56,680 Speaker 1: oppressive behavior towards those that they do not who do 392 00:21:56,800 --> 00:21:58,879 Speaker 1: not tow the line as they see the line should 393 00:21:58,880 --> 00:22:01,119 Speaker 1: be told. We should stand always on the side of 394 00:22:01,200 --> 00:22:04,639 Speaker 1: those seeking equality and freedom and liberty. All right, Marianne, 395 00:22:04,640 --> 00:22:06,080 Speaker 1: stay with us, because I want to bring into the 396 00:22:06,119 --> 00:22:09,280 Speaker 1: conversation Steven Wood, who is an economist distorts who joins 397 00:22:09,359 --> 00:22:14,639 Speaker 1: us via telephone, Stephen, how are you do we have? Stephen? 398 00:22:15,520 --> 00:22:17,879 Speaker 1: Looks like we do not have Stephen yet. Okay, Oh 399 00:22:18,240 --> 00:22:20,080 Speaker 1: can you hear me now? Yes, I can hear you now. 400 00:22:20,240 --> 00:22:23,120 Speaker 1: Technologic listen. I've had so many work from home technological 401 00:22:23,200 --> 00:22:25,920 Speaker 1: difficulties during all of us I've had dogs barking on 402 00:22:26,040 --> 00:22:29,360 Speaker 1: air from sources at the State Department. I had everything, 403 00:22:29,440 --> 00:22:33,840 Speaker 1: So don't worry. How. We were talking about the economy 404 00:22:33,880 --> 00:22:37,160 Speaker 1: with Marianne, and I want to get your vantage point 405 00:22:37,400 --> 00:22:41,320 Speaker 1: on this, because the economic indicators here are just baffling. 406 00:22:41,760 --> 00:22:44,040 Speaker 1: Where do you see the economy do we Do you 407 00:22:44,160 --> 00:22:46,959 Speaker 1: think from a macro perspective that we've bottomed out yet 408 00:22:47,040 --> 00:22:48,600 Speaker 1: or is the are we still not to the worst 409 00:22:48,640 --> 00:22:53,760 Speaker 1: of it? Disconnect between what the market is saying and 410 00:22:53,920 --> 00:22:56,760 Speaker 1: what what I'm seeing. I spend most of my time 411 00:22:56,840 --> 00:23:01,000 Speaker 1: talking with business managers and it is UM. Just Marianne referenced, 412 00:23:01,080 --> 00:23:06,280 Speaker 1: it is we're seeing depression level statistics and conditions at 413 00:23:06,359 --> 00:23:09,480 Speaker 1: the same time. Uh. You know a company that I'm 414 00:23:09,480 --> 00:23:11,440 Speaker 1: on the board with, we do logistics for the entire 415 00:23:11,480 --> 00:23:15,879 Speaker 1: country of Portugal. We've seen a tremendous resilience of particularly 416 00:23:15,960 --> 00:23:19,560 Speaker 1: small and medium sized businesses UM that have been able 417 00:23:19,600 --> 00:23:22,800 Speaker 1: to some of them have been able to adapt. UM 418 00:23:23,000 --> 00:23:26,479 Speaker 1: and it's you know, the market thinks that it's only uh, Facebook, Amazon, 419 00:23:27,119 --> 00:23:31,120 Speaker 1: you know, Google winning, but it's actually we're seeing quite 420 00:23:31,119 --> 00:23:33,800 Speaker 1: a lot of small businesses actually make or breaking themselves 421 00:23:33,920 --> 00:23:36,959 Speaker 1: right now. The interesting thing and and and Marian can 422 00:23:37,000 --> 00:23:39,800 Speaker 1: speak to this, she's an expert in this. UM. A 423 00:23:39,880 --> 00:23:42,760 Speaker 1: lot of people are operating in a survival mode right now. 424 00:23:42,920 --> 00:23:46,080 Speaker 1: And that's the sort of the amygdala thinking. And and 425 00:23:46,320 --> 00:23:49,600 Speaker 1: and Marian and knows better than anyone. UM, when you're 426 00:23:49,640 --> 00:23:51,639 Speaker 1: operating from the amygdala, you tend to do things that 427 00:23:51,720 --> 00:23:54,159 Speaker 1: you you really regret. And so we're seeing a lot 428 00:23:54,240 --> 00:23:58,600 Speaker 1: of businesses UM treating their customers really almost in an 429 00:23:58,720 --> 00:24:01,840 Speaker 1: outright hospital manner, trying to get them to pay their 430 00:24:01,920 --> 00:24:06,719 Speaker 1: invoices when their own businesses in businesses are shut. UM. 431 00:24:06,920 --> 00:24:08,560 Speaker 1: But then at this at the other at the other 432 00:24:08,680 --> 00:24:12,360 Speaker 1: end of the spectrum, we're seeing UM, really fantastic businesses 433 00:24:12,480 --> 00:24:15,440 Speaker 1: rise to the occasion and actually within a matter of 434 00:24:15,760 --> 00:24:19,600 Speaker 1: months create a completely new enterprise. So it is a 435 00:24:19,680 --> 00:24:23,760 Speaker 1: period of adaptation. UH. To answer your questions specifically, I 436 00:24:23,920 --> 00:24:28,800 Speaker 1: don't believe in a general context the market reflects any remote, 437 00:24:29,680 --> 00:24:33,159 Speaker 1: remote semblance of of what's happening on the ground in 438 00:24:33,200 --> 00:24:35,200 Speaker 1: the economy. And I think you see that with a 439 00:24:35,320 --> 00:24:39,040 Speaker 1: lot of executives actually issuing equity in the most recent weeks. 440 00:24:39,640 --> 00:24:42,520 Speaker 1: Um there it's that's that's sort of them voting with 441 00:24:42,680 --> 00:24:45,520 Speaker 1: their with with their treasuries. You know. Stephen Woods on 442 00:24:45,520 --> 00:24:48,080 Speaker 1: the lines and he's and he's talking about UH sort 443 00:24:48,119 --> 00:24:51,159 Speaker 1: of how different business sectors have been responding to this. 444 00:24:51,320 --> 00:24:55,439 Speaker 1: You and I, Stephen, we're talking about UH landlords in particular, 445 00:24:55,600 --> 00:24:59,600 Speaker 1: and the housing crisis which has been exacerbated during this 446 00:24:59,760 --> 00:25:03,000 Speaker 1: p endemic the rent crisis in this country. Talk to 447 00:25:03,119 --> 00:25:04,760 Speaker 1: me a little bit, and my understanding is that you 448 00:25:04,880 --> 00:25:06,560 Speaker 1: have a little bit of delay, So just bear with 449 00:25:06,720 --> 00:25:08,199 Speaker 1: us with that delay, folks, is I want to get 450 00:25:08,240 --> 00:25:13,680 Speaker 1: this answer. Talk to us about how landlords have missed 451 00:25:13,720 --> 00:25:16,639 Speaker 1: the mark, many of them, in terms of dealing with 452 00:25:16,840 --> 00:25:21,879 Speaker 1: this housing crisis, rent crisis in America. So the amigula 453 00:25:22,119 --> 00:25:25,480 Speaker 1: is live and well with most landlords because their backs 454 00:25:25,520 --> 00:25:27,919 Speaker 1: are against the wall. They have debt obligations that they 455 00:25:27,960 --> 00:25:31,560 Speaker 1: need to satisfy that they can't actually uh go into 456 00:25:31,600 --> 00:25:35,040 Speaker 1: forbearance on. And so what they're doing many many landlords, 457 00:25:35,080 --> 00:25:38,560 Speaker 1: particularly the office and the retail space are our outright 458 00:25:38,640 --> 00:25:41,800 Speaker 1: treating their their their customers, their tenants in a in 459 00:25:41,880 --> 00:25:44,320 Speaker 1: a hostile manner, and I think that these are going 460 00:25:44,400 --> 00:25:47,520 Speaker 1: to end up being permanent destructions and relationships that are 461 00:25:47,560 --> 00:25:50,520 Speaker 1: happening there. Um, we we're not really seeing it as 462 00:25:50,640 --> 00:25:53,040 Speaker 1: much on the on the residential side, Kevin. It's much 463 00:25:53,080 --> 00:25:55,600 Speaker 1: more on the office and the retail side. No surprise 464 00:25:55,680 --> 00:25:59,399 Speaker 1: to anybody, But when a when a when a landlord turned, 465 00:25:59,560 --> 00:26:03,000 Speaker 1: you know, basically threatens litigation against some of its retail 466 00:26:03,080 --> 00:26:06,600 Speaker 1: clients who are forced to remain closed. Right now, Um, 467 00:26:07,000 --> 00:26:09,240 Speaker 1: I don't see those relationships being able to make it 468 00:26:09,320 --> 00:26:11,920 Speaker 1: to the other side. And and some of these assets 469 00:26:12,080 --> 00:26:15,399 Speaker 1: with very very very stretched balanced seats sheets are going 470 00:26:15,440 --> 00:26:19,080 Speaker 1: to have a very hard time, uh, basically returning back 471 00:26:19,119 --> 00:26:21,480 Speaker 1: to any sense of normals than Stephen, what thank you 472 00:26:21,560 --> 00:26:23,439 Speaker 1: so much for your insights. We'll definitely have you back 473 00:26:23,480 --> 00:26:26,000 Speaker 1: on the program. Appreciate that for your time. On that. 474 00:26:26,080 --> 00:26:27,760 Speaker 1: Coming up, we check in with Johnson the Ladies. I'm 475 00:26:27,760 --> 00:26:30,960 Speaker 1: more with Marion Williamson. I'm Kevin Cerelli, chief Washington correspondent 476 00:26:31,000 --> 00:26:33,680 Speaker 1: for Bloomberg TV and for Bloomberg Radio. You can download 477 00:26:33,800 --> 00:26:36,880 Speaker 1: the Bloomberg Sound on podcast on Apple iTunes at Bloomberg 478 00:26:36,920 --> 00:26:40,440 Speaker 1: dot Com or by downloading the Bloomberg Business app. You 479 00:26:40,480 --> 00:26:43,119 Speaker 1: can also find me on Radio dot com, I Heart Radio, 480 00:26:43,320 --> 00:26:46,560 Speaker 1: and Spotify. It's Friday, folks, It's Friday, folks. It really 481 00:26:46,720 --> 00:26:48,920 Speaker 1: is interesting to hear what Stephen had to say about 482 00:26:48,960 --> 00:26:53,200 Speaker 1: how different business sectors if they're not connecting one on 483 00:26:53,359 --> 00:26:56,760 Speaker 1: one with the individual wealth, then they're not going to 484 00:26:56,800 --> 00:27:04,520 Speaker 1: make it. If you're listening to Bloomberg, this is Bloomberg's 485 00:27:04,600 --> 00:27:09,239 Speaker 1: Sound On with Kevin Surley on Bloomberg and one oh 486 00:27:09,320 --> 00:27:12,760 Speaker 1: five point seven f M HD two. I'm Kevin Sireli, 487 00:27:12,880 --> 00:27:16,120 Speaker 1: Chief Washington correspondent for Bloomberg Television and form Bloomberg Radio. 488 00:27:16,240 --> 00:27:18,560 Speaker 1: And this China attention is in a new Cold war. 489 00:27:19,080 --> 00:27:21,800 Speaker 1: That's where we're going to. That's where we are going 490 00:27:22,440 --> 00:27:27,280 Speaker 1: to continue the conversation with John Cieliti's geopolitical strategists at 491 00:27:27,320 --> 00:27:31,480 Speaker 1: Trilogy Advisors and diplomacy consultant to the State Department. John. 492 00:27:31,880 --> 00:27:35,760 Speaker 1: How are you? How's the family? How are the boys? Well? 493 00:27:35,840 --> 00:27:38,840 Speaker 1: Thank god, we're all healthy and well, trying to keep 494 00:27:38,880 --> 00:27:43,280 Speaker 1: our wits about us and longing for a haircut. Kevin, Wait, 495 00:27:43,359 --> 00:27:46,639 Speaker 1: so you have at Mary Williamson. You haven't, You haven't 496 00:27:46,680 --> 00:27:49,320 Speaker 1: done the barbershop. I was cutting my own hair week three. 497 00:27:50,920 --> 00:27:53,200 Speaker 1: No Governor Northam won't allow him. I think they just 498 00:27:53,320 --> 00:27:55,920 Speaker 1: opened up literally forty five minutes ago. I think five 499 00:27:55,960 --> 00:27:59,919 Speaker 1: o'clock today is when that next phase of reopening at 500 00:28:00,000 --> 00:28:03,600 Speaker 1: answers to the barbershops. You ad the State Department, but 501 00:28:03,760 --> 00:28:06,000 Speaker 1: you can't pull out a pair of clippers and help 502 00:28:06,160 --> 00:28:08,200 Speaker 1: give a buzz cut to the boys. John, come on, 503 00:28:09,480 --> 00:28:13,560 Speaker 1: I'm not a lawbreaker, all right. So what do you 504 00:28:13,640 --> 00:28:16,919 Speaker 1: make of these escalating tensions between the US and China? Uh? 505 00:28:17,040 --> 00:28:19,000 Speaker 1: And and and is this really the start of a 506 00:28:19,080 --> 00:28:24,120 Speaker 1: new Cold War between the U S and China? John? Well, Kevin, 507 00:28:24,280 --> 00:28:26,359 Speaker 1: let me just put some context to this, because what 508 00:28:26,520 --> 00:28:29,800 Speaker 1: we have here really is the culmination of a bipartisan 509 00:28:29,840 --> 00:28:33,920 Speaker 1: American failure to understand that China was always biding its 510 00:28:34,000 --> 00:28:36,600 Speaker 1: time until it was ready to compete with the United 511 00:28:36,680 --> 00:28:40,200 Speaker 1: States for global dominance. And this is probably the most 512 00:28:40,240 --> 00:28:44,560 Speaker 1: glaring failure of foreign policy of the past twenty years. 513 00:28:44,760 --> 00:28:47,760 Speaker 1: And history will likely look back and say among the 514 00:28:47,840 --> 00:28:51,600 Speaker 1: greatest strategic blunders since World War Two. So now you 515 00:28:51,680 --> 00:28:56,000 Speaker 1: have this bipartisan support for a campaign of accelerating the 516 00:28:56,120 --> 00:29:01,080 Speaker 1: strategic disengagement that China launched in twenty team when they 517 00:29:01,120 --> 00:29:04,560 Speaker 1: announced the policy of achieving technology and dependence from the 518 00:29:04,720 --> 00:29:08,040 Speaker 1: US and the West, and that was propelled in een 519 00:29:08,520 --> 00:29:14,080 Speaker 1: when General Secretary Shijin Ping achieved unbridled power and eliminated 520 00:29:14,160 --> 00:29:17,120 Speaker 1: term limits. And ever since then we've seen this aggressive 521 00:29:17,200 --> 00:29:21,360 Speaker 1: foreign policy in Hong Kong against Taiwan and the South 522 00:29:21,480 --> 00:29:25,160 Speaker 1: China Sea, sinking Vietnamese boats, and now the last week 523 00:29:25,280 --> 00:29:28,760 Speaker 1: or two weeks two incursions on the territory of India. 524 00:29:29,520 --> 00:29:32,440 Speaker 1: So we have a number of activities that the US 525 00:29:32,560 --> 00:29:35,400 Speaker 1: is finally responding to. And I think with this National 526 00:29:35,480 --> 00:29:38,320 Speaker 1: Security law that's being imposed in Hong Kong, you see 527 00:29:38,360 --> 00:29:42,719 Speaker 1: against sweeping bipartisan support for the president's policy of perhaps 528 00:29:42,800 --> 00:29:46,840 Speaker 1: targeted sanctions against Hong Kong. A very different relationship because 529 00:29:46,880 --> 00:29:50,080 Speaker 1: of Hong Kong no longer being autonomous and trying to 530 00:29:50,200 --> 00:29:54,640 Speaker 1: hold China accountable for repeated violations of promises, commitments and 531 00:29:54,760 --> 00:29:58,040 Speaker 1: international treaties. John Johnson leads is on the line. He's 532 00:29:58,040 --> 00:30:01,240 Speaker 1: Geopolitical Strategy as a trilogy, advised as diplomacy consultant to 533 00:30:01,320 --> 00:30:04,120 Speaker 1: the State Department. John, you know you mentioned India. The 534 00:30:04,280 --> 00:30:08,080 Speaker 1: US can't do you think the US needs to get 535 00:30:08,200 --> 00:30:12,000 Speaker 1: Europe on board. Europe has has had a very different approach. 536 00:30:12,040 --> 00:30:14,080 Speaker 1: Every country in Europe has had a very different approach 537 00:30:14,320 --> 00:30:18,120 Speaker 1: to how they've been handling China as it relates to 538 00:30:18,200 --> 00:30:20,400 Speaker 1: doing business on five G as it relates to doing 539 00:30:20,480 --> 00:30:25,040 Speaker 1: business uh in in the energy sector. And does Europe 540 00:30:25,080 --> 00:30:26,800 Speaker 1: in the United States need to be speaking from the 541 00:30:26,880 --> 00:30:31,520 Speaker 1: same on the same page when dealing with Beijing. Well, 542 00:30:31,640 --> 00:30:34,760 Speaker 1: this goes back to the classic problem Kevin of European 543 00:30:34,840 --> 00:30:38,000 Speaker 1: foreign policy, Right, who do you speak to to see 544 00:30:38,080 --> 00:30:41,280 Speaker 1: who speaks for Europe? There really isn't any unified voice. 545 00:30:41,360 --> 00:30:44,960 Speaker 1: And when times are good, Europe is unified, and when 546 00:30:45,040 --> 00:30:48,000 Speaker 1: times are rough, every country starts looking out for its 547 00:30:48,040 --> 00:30:51,000 Speaker 1: own interests. So I think we'll be working with the UK, 548 00:30:51,320 --> 00:30:55,040 Speaker 1: especially the Chinese have already threatened the United Kingdom if 549 00:30:55,080 --> 00:30:59,320 Speaker 1: they offer passport privileges to those who held UK passports 550 00:30:59,360 --> 00:31:02,400 Speaker 1: before nine when when Hong Kong was handed over to 551 00:31:02,480 --> 00:31:05,200 Speaker 1: the Chinese, and the Chinese are now threatening the UK 552 00:31:05,360 --> 00:31:09,440 Speaker 1: with retaliation. China is isolating itself in the region and 553 00:31:09,520 --> 00:31:13,640 Speaker 1: globally by these very aggressive actions against the whole host 554 00:31:13,720 --> 00:31:16,600 Speaker 1: of countries which which had enjoyed very good relations up 555 00:31:16,680 --> 00:31:19,040 Speaker 1: until just a year or so ago. And I think, 556 00:31:19,160 --> 00:31:23,200 Speaker 1: especially Kevin, given the way China has concealed its activities 557 00:31:23,240 --> 00:31:26,680 Speaker 1: regarding the unleashing of the virus on the world, I 558 00:31:26,760 --> 00:31:29,480 Speaker 1: think you'll see a lot more popular support in individual 559 00:31:29,560 --> 00:31:33,760 Speaker 1: European countries for a very serious, high level review of 560 00:31:33,880 --> 00:31:37,360 Speaker 1: their diplomatic and economic relations with China, especially if the 561 00:31:37,480 --> 00:31:40,800 Speaker 1: Chinese government continues with these policies. Well, and also, I mean, 562 00:31:40,920 --> 00:31:44,120 Speaker 1: and you mentioned populism in Europe, look no further than 563 00:31:44,200 --> 00:31:47,120 Speaker 1: here you've got According to the latest Morning Console Pull, 564 00:31:48,160 --> 00:31:52,000 Speaker 1: democrats want more transparency from China. Eighty more than eighty 565 00:31:52,040 --> 00:31:55,240 Speaker 1: percent of Republicans want more transparency from China. That's just 566 00:31:55,320 --> 00:31:58,000 Speaker 1: the Morning Console Pull. That's not even you know, and 567 00:31:58,080 --> 00:32:00,760 Speaker 1: not just one question. So I mean, this is not 568 00:32:00,880 --> 00:32:03,920 Speaker 1: this is not a controversial thing here that we're talking about. 569 00:32:04,160 --> 00:32:06,160 Speaker 1: But you know, so much of the reporting and the 570 00:32:06,240 --> 00:32:10,240 Speaker 1: framing around this discussion, Johnson elities is has been that 571 00:32:10,560 --> 00:32:14,600 Speaker 1: Europe is isn't is in disarray. Geo politically in the 572 00:32:14,720 --> 00:32:17,640 Speaker 1: United States is divided. And I hear that, I hear 573 00:32:17,760 --> 00:32:23,440 Speaker 1: that that said, did did She jing Ping miscalculate? Did 574 00:32:23,520 --> 00:32:27,760 Speaker 1: She Jing Ping make any miscalculations about the wealthy, the 575 00:32:27,880 --> 00:32:31,360 Speaker 1: wealthy class and China. They're gonna have questions if, if, 576 00:32:31,640 --> 00:32:34,280 Speaker 1: especially if they've got some financial interest in Hong Kong 577 00:32:34,320 --> 00:32:36,719 Speaker 1: and all of a sudden that financial luxury is going 578 00:32:36,800 --> 00:32:39,320 Speaker 1: to be revoked. I mean, is he gonna feel pressure. 579 00:32:39,440 --> 00:32:42,400 Speaker 1: This isn't like it's one person in China running policy. 580 00:32:42,680 --> 00:32:46,160 Speaker 1: This is a nuanced country with nuanced political ideologies and 581 00:32:46,360 --> 00:32:52,960 Speaker 1: nuanced uh different constituencies. You raise some very important points 582 00:32:53,000 --> 00:32:56,280 Speaker 1: in questions here, Kevin. However, there is a difference in 583 00:32:56,400 --> 00:33:00,520 Speaker 1: governance under General Secretary She he does have near absolute 584 00:33:00,560 --> 00:33:02,840 Speaker 1: power in a way that none of his predecess is 585 00:33:02,880 --> 00:33:06,200 Speaker 1: going back to Den Chaoping had when China was run 586 00:33:06,320 --> 00:33:10,320 Speaker 1: more by consensus among party elders. So Hujining is going 587 00:33:10,360 --> 00:33:13,760 Speaker 1: back to the Mausa tongue model and actually does have 588 00:33:13,960 --> 00:33:17,400 Speaker 1: near absolute authority. But on Hong Kong, keep in mind 589 00:33:17,520 --> 00:33:21,280 Speaker 1: that the Chinese Communist Party has been planning this transition 590 00:33:21,480 --> 00:33:25,040 Speaker 1: since nine and it's why you've seen all this investment 591 00:33:25,120 --> 00:33:30,400 Speaker 1: going into major financial megalopolis is like Shanghai and shen Xen. 592 00:33:30,960 --> 00:33:33,280 Speaker 1: So that you know where Hong Kong was accountable for 593 00:33:33,400 --> 00:33:39,440 Speaker 1: twenty percent of the Chinese economy in it's only valued 594 00:33:39,440 --> 00:33:42,000 Speaker 1: that about three percent of the Chinese economy today, so 595 00:33:42,520 --> 00:33:45,880 Speaker 1: it's going to be swallowed up by these larger financial 596 00:33:46,040 --> 00:33:50,200 Speaker 1: centers in Shanghai and Shenzen. So this the idea I 597 00:33:50,280 --> 00:33:53,560 Speaker 1: think now is a no more Chinese democracy for the 598 00:33:53,640 --> 00:33:56,600 Speaker 1: people of Hong Kong. And also this sent the geopolitical 599 00:33:56,680 --> 00:34:00,680 Speaker 1: message to Taiwan, which has been advancing. It's so international 600 00:34:00,800 --> 00:34:03,960 Speaker 1: statute because they handle the virus so much more effectively 601 00:34:04,000 --> 00:34:06,520 Speaker 1: than anyone else, and they want to make sure that 602 00:34:06,600 --> 00:34:12,080 Speaker 1: Taiwan gets no extra legroom, no additional space in any 603 00:34:12,160 --> 00:34:16,279 Speaker 1: international organization. They can't invade Taiwan, but they can send 604 00:34:16,360 --> 00:34:18,759 Speaker 1: a message to the world. We're gonna move into Hong 605 00:34:18,840 --> 00:34:22,000 Speaker 1: Kong and we'll threaten to escalate against Taiwan if you 606 00:34:22,080 --> 00:34:24,320 Speaker 1: force us to do so. All right, John said, Lady's 607 00:34:24,400 --> 00:34:27,560 Speaker 1: with the uh the truth on a Friday about us 608 00:34:27,600 --> 00:34:31,840 Speaker 1: and China. Geopolitical strategist of Trilogy Advisors and diplomacy consultant 609 00:34:31,880 --> 00:34:34,839 Speaker 1: to the State's Department not to mention in an All 610 00:34:34,920 --> 00:34:37,960 Speaker 1: Star Dad, John, thanks for checking in. Give my regards 611 00:34:38,000 --> 00:34:39,719 Speaker 1: to the family. MARYA. Williams. That we've got like a 612 00:34:39,760 --> 00:34:42,239 Speaker 1: minute left. You know, you hear that you listen to John, 613 00:34:42,480 --> 00:34:45,880 Speaker 1: but I still I Maybe it's because I'm younger, but 614 00:34:46,040 --> 00:34:48,680 Speaker 1: I still want to say, Okay, I get it, they're 615 00:34:48,719 --> 00:34:51,560 Speaker 1: the number two largest economy in the world, but we're 616 00:34:51,600 --> 00:34:54,600 Speaker 1: still number one, and the United States is still the 617 00:34:54,719 --> 00:34:57,200 Speaker 1: leader and innovation, and the United States is still the 618 00:34:57,360 --> 00:35:02,560 Speaker 1: leader in in democracy in the world. That's still still 619 00:35:03,000 --> 00:35:06,799 Speaker 1: even today has to be worth something. Well, first of all, 620 00:35:06,840 --> 00:35:09,319 Speaker 1: I'm not enrolled in your belief that we're the leader 621 00:35:09,400 --> 00:35:11,520 Speaker 1: in democracy. I don't think that we're the country that 622 00:35:11,680 --> 00:35:15,520 Speaker 1: is upholding democracy more than any other. Unfortunately, and as 623 00:35:15,560 --> 00:35:19,480 Speaker 1: far as our being our ideals are exceptional, that doesn't 624 00:35:19,480 --> 00:35:21,960 Speaker 1: mean we are embodying those ideals, and we need to 625 00:35:22,040 --> 00:35:24,680 Speaker 1: be honest with ourselves about that. Also, in terms of 626 00:35:24,719 --> 00:35:27,719 Speaker 1: our being a bigger economy, so many sectors of our 627 00:35:27,800 --> 00:35:31,080 Speaker 1: economy are bought and sold by China that we have 628 00:35:31,200 --> 00:35:33,200 Speaker 1: to really think about what it means to say that 629 00:35:33,239 --> 00:35:35,640 Speaker 1: we are number one. I agree with John, this has 630 00:35:35,680 --> 00:35:38,359 Speaker 1: been going on for so long we didn't China has 631 00:35:38,400 --> 00:35:41,399 Speaker 1: warned that this could lead to a to a cold war, 632 00:35:41,560 --> 00:35:43,799 Speaker 1: but there's a certain kind of cold trade board that's 633 00:35:43,800 --> 00:35:46,040 Speaker 1: been going on for so long they didn't have to 634 00:35:46,120 --> 00:35:48,759 Speaker 1: send soldiers. All they need to do is uh is 635 00:35:49,000 --> 00:35:51,839 Speaker 1: send trade negotiators. And we've been such horrors for short 636 00:35:51,920 --> 00:35:54,879 Speaker 1: term profit for US corporations. We've practically sold this country. Okay, 637 00:35:54,880 --> 00:35:56,840 Speaker 1: I gotta ask you a fun question because it's Friday, 638 00:35:56,840 --> 00:35:59,240 Speaker 1: And what are you streaming? What have you been streaming 639 00:35:59,280 --> 00:36:01,680 Speaker 1: through the pandemic? I have been obsessed with the Crown. 640 00:36:01,760 --> 00:36:05,239 Speaker 1: I can't okay, I can't wait for season four. We're 641 00:36:05,239 --> 00:36:07,880 Speaker 1: gonna leave it there. Marian Williamson's watching the crowd just 642 00:36:08,000 --> 00:36:10,399 Speaker 1: like the rest of us. All Right, thanks everybody for listening. 643 00:36:10,520 --> 00:36:12,840 Speaker 1: Much more coming up next week. Have a great, safe weekend. 644 00:36:12,880 --> 00:36:16,120 Speaker 1: Happy be Day. JFK. I'm Kevin's really you're listening to 645 00:36:16,120 --> 00:36:16,600 Speaker 1: Bloomberg