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Speaker 1: This is Bloomberg surveillance. You can't take fiscal policy out

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Speaker 1: of the political process. It is the political process, and

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Speaker 1: essentially it's gridlock in most countries. The massive flows out

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Speaker 1: of active and enter passive have I think we had

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Speaker 1: more irrational pricing at the stock level than we've seen

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Speaker 1: sometimes at the end of the oil age in the

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Speaker 1: twenty five centuries. Of the twentieth century, with the age

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Speaker 1: of oil will be the age of electricity. Bloomberg surveillance

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Speaker 1: your link to the world of economics, finance, and investment

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Speaker 1: on Bloomberg Radio. Good Morning, I Michael McKey along with

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Speaker 1: Tom Kenadian is seven am on Wall Street. Seven pm

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Speaker 1: in Tokyo, where overnight nothing happened, and that is news.

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Speaker 1: The Bank of Japan decides to stand pat adds no

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Speaker 1: new stimulus and that is disappointing investors worldwide today the

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Speaker 1: no monetary fixed dts sending the knick down seven t

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Speaker 1: hangover that has continued in the up in the in

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Speaker 1: Europe and the US stock six right now down by

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Speaker 1: a three point five percent three point five points rather

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Speaker 1: that is one percent on the day uh the docks

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Speaker 1: is off by fifty points, that is half a percent

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Speaker 1: The euro is down from yesterday, a little bit stronger,

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Speaker 1: a little bit weaker rather, but it is um at

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Speaker 1: this point UM little changed on the day one tight six.

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Speaker 1: The foot see is down by thirty nine points right

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Speaker 1: now six tents of eight percent, and the pounds going

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Speaker 1: for seven. That's down a full percentage point. The Bank

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Speaker 1: of England does not meet until Thursday. UH. Nothing expected

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Speaker 1: here as the Fed begins it's two day meeting, but

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Speaker 1: equities are off. The SMP evening futures are down eleven

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Speaker 1: points half a percent of four tents drop. For down

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Speaker 1: futures they're down seventy four points, and NASDAI futures down

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Speaker 1: eighteen points, four tenths of eight percent. In the bond market,

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Speaker 1: we have seen some games. Four bonds yields off a

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Speaker 1: little bit. One point nine three is the yield on

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Speaker 1: the tenure the five year one point for six ninety

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Speaker 1: four basis points for your two year. The dollar index

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Speaker 1: at ninety six point seven six nine tad stronger but

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Speaker 1: still in the nineties six range for UH. Most of

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Speaker 1: the last week. Oil maybe a driver. Hard to separate

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Speaker 1: out oil prices from what's going on with the central banks.

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Speaker 1: But West Texas down two and a a half percent to

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Speaker 1: four bread Crew thirty fifty five two and a half

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Speaker 1: percent as well, some people saying, now we've put in

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Speaker 1: a top for the time being, we'll have to consider

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Speaker 1: that possibility. Major economic dated this morning, retail sales in

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Speaker 1: the US doing eight thirty well Street Time. Mark Handler

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Speaker 1: is head of forex at Brown Brothers Harmon, and he

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Speaker 1: kicks off our look at the central bank world today. Mark,

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Speaker 1: with all the things I just mentioned, what's the dollar

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Speaker 1: trading on these days? We've had central banks move, We've

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Speaker 1: had central banks in one place. Uh, and yet we're

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Speaker 1: not seeing the dollar as represented by the dollar indexes

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Speaker 1: move a hole heck of a lot either way. Yeah,

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Speaker 1: I think it's kind of quiet. I think people are waiting,

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Speaker 1: really for the most part. Two things. One of course,

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Speaker 1: of the settle deserved tomorrow. And the key issue I

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Speaker 1: think is really not so much to risk a deestment,

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Speaker 1: but really how many how many dots plots are there?

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Speaker 1: That is to say, in December they they pointed to

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Speaker 1: four rate hikes this year. Uh, are they gonna move

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Speaker 1: it to two or the three? My sense is probably

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Speaker 1: the three, But the market needs the way to see

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Speaker 1: that tomorrow. And the other thing I think you mentioned

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Speaker 1: is about the possible UH near term top in oil prices,

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Speaker 1: UH selling off again today and that I think is

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Speaker 1: one of the weights on the commodity so called commodity

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Speaker 1: currencies Canada. Ausi Kiwi, I find sterling interesting to showing

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Speaker 1: is down to heavy. As you mentioned on one person

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Speaker 1: is really down the most are the major currencies, and

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Speaker 1: I think it's just some nervousness ahead of ahead of

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Speaker 1: the budget tomorrow and more talk about directsit and the

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Speaker 1: possibility that the the UK leaves the EU and that

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Speaker 1: votes late in June. Can I ask a stupid question, um?

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Speaker 1: The dot plots are not a consensus forecast for the

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Speaker 1: fat The fat is does not present them that way,

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Speaker 1: and they're never they never end up being right, to

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Speaker 1: end up being adjusted in terms of what the fens

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Speaker 1: going to do. So why did the guys on trading

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Speaker 1: desks pay any attention at all? Yeah? A good question.

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Speaker 1: I mean a couple of reasons. One is that the

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Speaker 1: closest thing we have, I think, to a transparent sense

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Speaker 1: of where Federal Reserve officials think could be an appropriate

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Speaker 1: level for FETCH funds, which strikes me. Um, I guess

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Speaker 1: that the market is often critical of of yelling and

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Speaker 1: the photos ever being dubblish, But yet the fits dot

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Speaker 1: plots point to a more hawkish Federal Reserve than the market.

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Speaker 1: Is it just I think a way to see where

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Speaker 1: the market is relative to monetary officials, and I do

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Speaker 1: think that the market pays attention to it, perhaps more

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Speaker 1: int and the Federal Reserve would like What I suggested

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Speaker 1: is to avoid some of this, is if the Federate

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Speaker 1: had dropped this dot plot completely, since it's maybe adds

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Speaker 1: more confusion than it might be worth. I had suggested

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Speaker 1: the Federoserve to think about having a press content after

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Speaker 1: every meeting, the way the ECB and the Bank of

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Speaker 1: Japan do, and that way that would help avoid this

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Speaker 1: kind of gaming of which meetings and which means that

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Speaker 1: fedos there could move and and would help diminished this

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Speaker 1: the confusion by the dot plots. I think Tom I

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Speaker 1: would like to have a dot plot for how long

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Speaker 1: the dot plot lasts well, which which so so silly

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Speaker 1: it is. It really just goes back to the study

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Speaker 1: of communication and central banks, which goes back to Timberlake

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Speaker 1: and Bernanke and other academics over the years marked the

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Speaker 1: same old, same old disease institutions by definition or reactive,

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Speaker 1: aren't they? I suppose I think that. I mean, I've

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Speaker 1: still would give the Federal Reserve credit for raising rates

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Speaker 1: last year. And despite the market thinking that the Fedoserve

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Speaker 1: made a mistake, many people in the market thing, and

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Speaker 1: I said, made a mistake. I think the fact that

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Speaker 1: Settle Reserve is going to continue to press ahead with

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Speaker 1: his normalization of monetary policy is important. My sense is

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Speaker 1: that almost everything the Federal Reserve had expected in December

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Speaker 1: has panned out. Inflation, core measures inflation are creeping higher.

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Speaker 1: I think that the core a PC one point seven.

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Speaker 1: Unemployment continued to fall, which means that the flack and

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Speaker 1: labor martn continue to be absorbed. We did have a

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Speaker 1: weakness in Q four last year, one percent growth kind

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Speaker 1: of dismal at an annualized pace. But here in Q two,

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Speaker 1: actually here in Q one, they kindly looks like it's

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Speaker 1: returning to a trend growth around two percent. What is

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Speaker 1: the ramifications of dollar strength when someone says to you,

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Speaker 1: without your expertise in the markets, oh, the dollar is

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Speaker 1: going to go up two percent or a big move

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Speaker 1: ten percent or whatever. How do you digest that? Well,

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Speaker 1: mostly people think, but I think what people mean I

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Speaker 1: think they mean by saying that is that probably hurts

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Speaker 1: the hurts of exports, and the reason for the settle

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Speaker 1: deserve not type not to tighten policy. My sense is

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Speaker 1: that you know, we talked about this before, that the

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Speaker 1: way US company service for demand is not really by

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Speaker 1: exporting the US the only export about fifteent of GDP

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Speaker 1: US companies building locally spelling locally is really the way

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Speaker 1: the primary way US company service for demand. And if anything,

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Speaker 1: in the past six weeks or so, the doll on

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Speaker 1: a trade weighted basis has pulled back and this might

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Speaker 1: give the feeders of more scope to raise rates. My

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Speaker 1: sense is that the Federals of Auto raise rates tomorrow,

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Speaker 1: but in uh my face, with doubts, the FED errors

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Speaker 1: on the side of caution like they did for the sapering,

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Speaker 1: like they did for the first rate hike, so too

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Speaker 1: with the second Hyke Mart Chandler with US Brown Brothers,

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Speaker 1: Harriman Bloomert Surveillance. This morning, roncher by Investco. Investco believes

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Speaker 1: it's time to say goodbye to the traditional sixty stock

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Speaker 1: bond allocations. Say hello two alternatives as a core part

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Speaker 1: of modern portfolios. Learning more and investco dot com, slash

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Speaker 1: Altar investco dot com, slash al A l T s Alts.

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Speaker 1: Michael Mark, We've got the retail sales report out today.

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Speaker 1: How much UH weight should we put on that? I mean,

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Speaker 1: obviously it's a trading event between eight thirty and eight

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Speaker 1: thirty five, But um, is it going to tell us

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Speaker 1: much about what the Fed is going to do? I

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Speaker 1: don't think so, Mike. I mean, we do have the

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Speaker 1: retail sales this morning. The headline is going to be

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Speaker 1: likely to be depressed by the dropping gasoline prices. We

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Speaker 1: also know auto sales sequentially we're flat. But the key,

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Speaker 1: the key to watch would be the what what what

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Speaker 1: Bloomberg called the control group, which is basically the component

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Speaker 1: of retail sales that used for GDP calculations, and that

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Speaker 1: would exclude autos, gasoline, building materials, and the flightly to

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Speaker 1: be up around point two percent, which you have to

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Speaker 1: point six in January. He'll tell this that the U

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Speaker 1: S consumer is off to a good start for the

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Speaker 1: Q one. Remember it's fueling consumption. Now, it's not unlike

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Speaker 1: paths cycle, it's not credit cards, evolving. That is flattish. Uh.

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Speaker 1: What's really what's really fueling consumption is a couple of things.

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Speaker 1: One is more people are working, they're getting paid a

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Speaker 1: little bit more per hour. And I'd say that the

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Speaker 1: dropping gasoline prices increases the disposable income for so less

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Speaker 1: money leaving the country in imported oil, more money staying

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Speaker 1: in the country buying buying food. Apparently, if we get

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Speaker 1: that kind of uh number, what does it tell us

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Speaker 1: about what the economy is going to do going forward? Well,

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Speaker 1: the good question, because we know that consumption is a

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Speaker 1: big part of the economy. Consumption seems to be going

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Speaker 1: growing about three percent, which is what it did last year,

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Speaker 1: which is the strongest in about a decade. Uh. So

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Speaker 1: I think that the Federal Reserve, I think, can feel

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Speaker 1: comfortable that as long as the consumer sector remains firm,

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Speaker 1: that the economy can do. Okay that if the capital expenditures,

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Speaker 1: that business investment still seems fairly slow U and we

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Speaker 1: spending might be a drag, but it's really the consumer

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Speaker 1: as the backbone and actually a function of job creation.

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Speaker 1: Mark excuse me not that the red button was so

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Speaker 1: dazzled by three Central Bank meetings back to back. I

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Speaker 1: can't even find the red button. We're by the red

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Speaker 1: phone waiting to see what the Fed will do. Tomorrow.

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Speaker 1: We'll do that. Mark Chandler with us with Brown Brothers Harriman.

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Speaker 1: Thank you so much, Mr Chandler. Uh this morning special program.

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Speaker 1: Note Tomorrow afternoon, Mike McKee and I will squeeze a

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Speaker 1: twenty hour day out of what a nine hour day?

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Speaker 1: Something like that. It'll be fun. One pm tomorrow, Scarlet Fool,

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Speaker 1: Michael McKee and myself. I'm Bloomberg Radio, Bloomberg Television with

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Speaker 1: special coverage of the FED meeting. Futures negative eleven down,

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Speaker 1: futures negative. This morning turned down to check out with

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Speaker 1: Michael R and get the latest world at national headlines

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Speaker 1: like Mike tom thank you very much. Donald Trump and

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Speaker 1: Hillary Clinton are hoping for a big day as five

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Speaker 1: states old primaries today. Trump could have more than fifty

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Speaker 1: of the Republican delegates if he runs the table today.

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Speaker 1: Florida's Marco Rubio and Ohio's John Kasy are looking to

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Speaker 1: win their home states for the Democrat. Hillary Clinton has

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Speaker 1: a big chance to pad her lead over rival Bernie Sanders.

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Speaker 1: North Korean leader Kim John Un has value to conduct

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Speaker 1: to know the nuclear test in a short time. North

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Speaker 1: Korea's official news agency says Kim made the vowel after

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Speaker 1: he watched assimilation of a rocket with a warhead re

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Speaker 1: entered the atmosphere. A senior Iraqi intelligence officials says top

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Speaker 1: Islamic State Group leader Omar al Shashani has died outside

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Speaker 1: the Islamic State stronghold of Rocca in Syria. Dallas c

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Speaker 1: V has won his fourth idelar Rod sleddald Race Global

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Speaker 1: News twenty four hours a day, powered by our journalists

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Speaker 1: and more than a hundred fifty news bureaus from around

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Speaker 1: the world. On Michael Barr. To Michael Barr, thanks so much.

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Speaker 1: You get futures neg of eleven, risk of field across

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Speaker 1: all assets OILS thirty six three. This is Bloomberg Surveillance.

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Speaker 1: and on your radio. This is a Bloomberg business flash

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Speaker 1: and I'm kerin Moscow. This updates brought to you by

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Speaker 1: Osner Amper. When entrepreneurs face challenges like choosing a business

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Speaker 1: advisors at Osender Amper connect with them Osner Emper, dot Com,

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Speaker 1: slash Tech and us dock Index. Future as are moving

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Speaker 1: lower this morning, with SNP eveny futures down eleven points down,

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Speaker 1: eveny futures down seventy six and as doc E many

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Speaker 1: futures down seventeen. The decks in Germany's down half per

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Speaker 1: cent ten Your Treasury up seven thirty seconds, the yield

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Speaker 1: one point nine three percent. Nimex screwed oil down two

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Speaker 1: and a half percent or ninety three cents at thirty

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Speaker 1: six a barrel. Coomax Gold is down eight tenths per

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Speaker 1: cent or ten dollars twenty cents to twelve and nine

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Speaker 1: announced the euro a dollar ten ninety three, the end

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Speaker 1: one thirteen point oh eight, and Jeffreys Groups trading revenue

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Speaker 1: tumbling a two pent in the fiscal first quarter, leading

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Speaker 1: to the firm's first loss for the period since two

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Speaker 1: thousand and eight mess of Bloomberg Business Flash, Tom and

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Speaker 1: Mike Karen Mosco, thank you very much. Well, the President

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Speaker 1: has made a decision about offshore drilling off the Atlantic

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Speaker 1: coast that was due out today and the question was

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Speaker 1: would he allow additional drilling leases off the coast of Virginia.

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Speaker 1: He says no, he is going to bar Atlantic coast

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Speaker 1: oil drilling. That's a reversal of earlier policies. However, Tom,

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Speaker 1: it's not clear exactly what impact that will have, given

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Speaker 1: that we have more oil than we want right now. Anyway, Yeah, well,

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Speaker 1: it's it's it's a debate and it's out there. I guess.

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Speaker 1: It's an active president, very high in the ratings and

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Speaker 1: as well. It's always good to have e j Deone

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Speaker 1: with us, of course, always writing up in the Washington Post.

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Speaker 1: But he has trotted out a new book which he

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Speaker 1: is perfectly timed the collapse of the Republican Party, Why

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Speaker 1: the Right Went Wrong? Uh, e j deone on conservatism

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Speaker 1: and really a most interesting historical view of the path

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Speaker 1: of the right. Always to the prism of Mr Dione

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Speaker 1: e j Um. I love the phrase goldwater is m

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Speaker 1: which so much gets to the morphing of a U

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Speaker 1: H two oh into where we are as we go

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Speaker 1: to Florida and Ohio. This evening defined for us modern

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Speaker 1: day Goldwater is m I love that phrase. Well Goldwater. Um,

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Speaker 1: we remember him as a person, and he was a

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Speaker 1: very warm, agreeable, uh person. He was candid in principle.

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Speaker 1: So none of this is about gold Water the guy,

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Speaker 1: and later in life he actually became more moderate himself.

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Speaker 1: But to go back to the orig little gold Water

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Speaker 1: campaign in nineteen sixty four and the promises he made, um,

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Speaker 1: these were all basically tea party sort of promises, will

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Speaker 1: roll back government on every front. Uh. You know, he said,

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Speaker 1: I don't mean to reform government because I intend to

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Speaker 1: cut it. Uh. And that's where a large part of

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Speaker 1: the Republican Party has moved. UM say, if I thank

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Speaker 1: you so much for what you said about the book. UM,

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Speaker 1: I was very gratified by a review I just got

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Speaker 1: from National Review, which is a conservative magazine, disagrees with

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Speaker 1: the book, disagrees with me, and yet it argued the

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Speaker 1: review by a guy called a scholar called Henry Olsen,

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Speaker 1: argued that conservatives do have to come to terms of

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Speaker 1: my argument that if they carry goldwater Ism on indefinitely,

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Speaker 1: they will have a real problem because Goldwaterism doesn't speak

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Speaker 1: It was an anecology that came out of nineteen It

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Speaker 1: doesn't speak to what the party needs to do now.

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Speaker 1: In your ute, you used to be with al Hunt

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Speaker 1: in the smoke filled rooms at these conventions. Can you

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Speaker 1: fathom what Cleveland will be this summer? Smoke filled or not? Right,

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Speaker 1: there'll be smoke free, smoke filled rooms. How do you

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Speaker 1: how do you get your head around that? Um, it's

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Speaker 1: it's almost impossible to fathom. We haven't had anything like

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Speaker 1: this really since the fifties and in some ways since earlier.

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Speaker 1: Other than that, because and it tells you something about

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Speaker 1: the nature of the Trump candidacy. Normally, a candidate who

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Speaker 1: built this kind of lead would be embraced by his

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Speaker 1: party and the people. Leaders of the party would say,

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Speaker 1: all right, let's get out of the way. This guy

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Speaker 1: has secured the nomination. Let's end this thing. Uh. Instead,

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Speaker 1: quite the opposite is happening, and large parts of the

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Speaker 1: party are saying, no, let's keep this thing going to

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Speaker 1: keep him from getting the delegates. I think the Republicans,

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Speaker 1: if things turn out the way they well looked to

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Speaker 1: turn out. Now, which is Trump ends up with a

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Speaker 1: plurality but not a majority of delegates. Um, the party

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Speaker 1: faces bad choices either way. They don't put Trump on

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Speaker 1: the ticket, and you know, they don't nominate Trump, in

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Speaker 1: which case you've got a mass rebellion of all the

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Speaker 1: people who voted for him. I just somehow can't see

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Speaker 1: Trump accepting that lightly. Maybe he'll be gentle about it,

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Speaker 1: but I don't think so. Um. Or on the other side, Um,

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Speaker 1: they do nominate Trump and face substantial losses because he's

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Speaker 1: clearly running well behind Hillary Clinton. He's got a huge

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Speaker 1: disadvantage among women voters. Uh So it's gonna be very

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Speaker 1: tough on the party. Is it over for the Republicans? Um?

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Speaker 1: You know, I predicting the death of a major political

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Speaker 1: party is always problematic. The Republicans split down the middle

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Speaker 1: of nineteen twelve and actually William Howard Taffer in third.

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Speaker 1: Teddy Roosevelt, the dissenting Republican, ran second, running as a progressive.

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Speaker 1: They recouped after losing the Roosevelt in thirty six gold

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Speaker 1: Water and sixty four loss. Uh So, I don't know

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Speaker 1: if it's over. I think that the Republican Party as

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Speaker 1: it now exists. Maybe over I don't know, if you

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Speaker 1: replace the Republican Party, I think it's more likely that

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Speaker 1: they go through a period of turmoil and become something

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Speaker 1: a little different. Ronny of the Atlantic Group, you know

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Speaker 1: on UM old friend of mine. He has an interesting

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Speaker 1: piece in the Atlantic today suggesting that what this campaign

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Speaker 1: has done has defined deviancy down to use the old

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Speaker 1: Moyning hand phrase, in such a way that politics may

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Speaker 1: not recover for a very long time. Um again, I'm

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Speaker 1: sometimes you have to hit to come up and so UM.

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Speaker 1: I think that what we're going to have trouble we're

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Speaker 1: covering from is not this campaign. Although I agree with

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Speaker 1: ron that particularly I'm a Republican side, particularly after that

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Speaker 1: debate in which we were talking about the size of

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Speaker 1: body parts. I mean, if you had told me, I

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Speaker 1: think I've said this before, that you know, a group

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Speaker 1: of presidential candidates were talking the way they were talking,

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Speaker 1: I would have told you it's propaganda by enemies of

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Speaker 1: the United States. Um. But I think the real question

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Speaker 1: is can we govern ourselves after this election? Um? And

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Speaker 1: you know, one of the problems, one of the reasons

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Speaker 1: there is all this discontent um is because the Republicans

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Speaker 1: just haven't been able to or willing to work with

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Speaker 1: President Obama on anything. We've had this deep divide, and

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Speaker 1: I don't know if we're gonna this election. We'll heal

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Speaker 1: that at all. Let's come back with us the book

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Speaker 1: Why the Right Went Wrong? Conservatism from very Goldwater to

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Speaker 1: the Tea Party. E. J. Dion has the courage to

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Speaker 1: go beyond Why the Right Went Wrong. We'll come back

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Speaker 1: with Mr Dion and try to look beyond the first

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Speaker 1: Tuesday of November from New York, this is Bloomberg Surveillance.

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Speaker 1: Bloomberg Surveillance is brought to you by the all new

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Speaker 1: New York, Bloomberg eleventh WO to Washington, d C, Bloomberg

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Speaker 1: to Boston, Bloomberg Well One to San Francisco, Bloomberg to

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Speaker 1: the Country, Series X Channel one ninety and around the globe.

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Speaker 1: The Bloomberg Radio Plus happened. Bloomberg dot Com. This is

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Speaker 1: Bloomberg Surveillance. Marrio at seven thirty Well Street and Michael

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Speaker 1: McKee along with Tom Keene. We are being buffeted by

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Speaker 1: the winds of Central Banks, but there are some company

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Speaker 1: stories out there that you'll want to pay attention to

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Speaker 1: as you begin your investing day. Valiant giving a new

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Speaker 1: sales and fit forecast for two thousand sixteen, lower than

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Speaker 1: the drug maker had predicted in December. Sales eleven to

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Speaker 1: twelve eleven to eleven point two billion, down from twelve

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Speaker 1: and a half to twelve point seven. Earnings will be

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Speaker 1: nine dollars fifty cents to ten dollars fifty cents, down

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Speaker 1: from thirteen to thirteen seventy five. David Campari Milano, the

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Speaker 1: Italian distiller, is going to buy French kognac maker Grand

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Speaker 1: Magnier Group. UH seven hundred sixty million dollars is the

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Speaker 1: valuation for the company, and Sony paying seven and fifty

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Speaker 1: million to the estate of Michael Jackson for the late

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Speaker 1: pop stars Steak in their joint music business. He gets

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Speaker 1: control of a it gets control of the catalog that

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Speaker 1: includes the artist Sting and Alicia Keys. And now let's

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Speaker 1: check in with the artist Michael bar for the latest

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Speaker 1: World National hidlives Michael, Thank you very much, Mike. It

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Speaker 1: is primary day in five states. Democrat Hillary Clinton is

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Speaker 1: holping the stretcher lead over rybal Bernie Sanders. Donald Trump

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Speaker 1: is holping for a big day, especially in delegate rich

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Speaker 1: Ohio and Florida pad his lead. Meanwhile, an attack ad

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Speaker 1: against Donald Trump hit national cable television this week, showing

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Speaker 1: women reading quotes by Trump that many women might find offensive. Calling.

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Speaker 1: In ABC's The Good Morning America, Trump was asked this morning,

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Speaker 1: have you seen that? I have seen it, and it

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Speaker 1: was a Romney deal. You know who ran one of

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Speaker 1: the worst races in the history of presidential politics. He

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Speaker 1: should have easily beaten the failed President Obama. And you

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Speaker 1: know they're just it's a lot of sour grapes. Former

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Speaker 1: Alaska Governor Sarah Palin was campaigning for Trump yesterday in Florida,

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Speaker 1: but had to return home after her husband was injured

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Speaker 1: in a snowmobile accident. President Obama predicts the Cuban and

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Speaker 1: Bargo will be lifted by his successor. President Obama spoke

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Speaker 1: to c ann just days before his Stewart visit to Cuba.

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Speaker 1: Dallas c V one, the thousand Mile I did a

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Speaker 1: rod sleddog race. Global News twenty four hours a day,

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Speaker 1: powered by our two d journalists more than a hundred

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Speaker 1: fifty news bureaus from around the world. I'm Michael bar Like.

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Speaker 1: Thank you, Michael. Time now for the Rankotina on a

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Speaker 1: group Bloomberg NBC Sports Update with Rob Bushman. Thank you Mike,

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Speaker 1: and good morning. You have just a few hours left

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Speaker 1: to get your brackets in as the n C A

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Speaker 1: A and n I T tournaments get underway today. And

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Speaker 1: good luck to fairly Dickinsons. The Nights got hot at

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Speaker 1: the right time. They're eighteen and fourteen. They take on

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Speaker 1: Florida Gulf Coast six forty is tip off from Dayton

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Speaker 1: is part of the East Region. That game to be

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Speaker 1: followed by Vanderbilt in Wichita State, the pair of eleven

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Speaker 1: seeds scheduled for a nine ten tip off on the ice.

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Speaker 1: Things are heating up with the Islanders with a minute

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Speaker 1: seconds the third period have taken up three to two

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Speaker 1: lead and if they were missed one, they'll have pulled

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Speaker 1: off MSG With the call of the Islanders down to

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Speaker 1: nothing entering the third score three times in five minutes

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Speaker 1: at forty one seconds and a Couple that with Thomas

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Speaker 1: christ who had twenty three saves, Islanders beat the Panthers

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Speaker 1: to pull ahead or two pull within a point of

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Speaker 1: the range years per second in the Metro Division, and

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Speaker 1: the baseball Tiger's gonna three run over from J. D.

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Speaker 1: Martinez to meat the mats nine to two. Of the

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Speaker 1: real story, David Wright, good to see him back in action.

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Speaker 1: You want one for five and an intra squad scrimmage game.

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Speaker 1: That's your NBC Sports Radio Bloomberg Up day, Mike, Thank

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Speaker 1: you very much, Rob Bka if you do have your

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Speaker 1: brackets filled out, um, you gotta of course wait and

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Speaker 1: see what happens with play in games. First one this afternoon,

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Speaker 1: Fairlee Dickinson against Florida Gulf Coast. That's at three this afternoon.

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00:24:32,840 --> 00:24:40,360
Speaker 1: This is Bloomberg Radio, and this is Bloomberg Surveillance. I'm

431
00:24:40,440 --> 00:24:43,640
Speaker 1: Michael McKee along with Tom Keane. On a day when

432
00:24:44,000 --> 00:24:47,800
Speaker 1: we see some disappointment in the markets over perhaps the

433
00:24:47,880 --> 00:24:51,639
Speaker 1: Japanese Central Bank doing nothing, or perhaps the anticipation of

434
00:24:51,680 --> 00:24:54,920
Speaker 1: the FED doing nothing. SMP features down eleven points right now,

435
00:24:54,960 --> 00:24:58,360
Speaker 1: six tenths. Dow features are off by four tenths. UH

436
00:24:58,440 --> 00:25:03,159
Speaker 1: seventy four points that index. It is time now for

437
00:25:03,200 --> 00:25:05,960
Speaker 1: the Bloomberg n j I T STEM Report, brought to

438
00:25:06,000 --> 00:25:08,760
Speaker 1: you by New Jersey Institute of Technology, partnering with government

439
00:25:08,800 --> 00:25:11,720
Speaker 1: and industry to apply the university's world class research assets

440
00:25:11,960 --> 00:25:14,600
Speaker 1: to innovate in spur economic growth. Learn more at n

441
00:25:14,680 --> 00:25:18,960
Speaker 1: j I T dot e d U. Here is Michael

442
00:25:18,960 --> 00:25:21,280
Speaker 1: good Morning, coming up on seven thirty five on Wall Street,

443
00:25:21,280 --> 00:25:24,159
Speaker 1: and here's what's making news in science, technology, engineering, And

444
00:25:24,240 --> 00:25:26,920
Speaker 1: Matt would you buy a self driving car from this man?

445
00:25:27,320 --> 00:25:30,640
Speaker 1: The Google executive in charge of the company's autonomous auto project,

446
00:25:30,680 --> 00:25:33,240
Speaker 1: is aiming to sell the concept to lawmakers on Capitol

447
00:25:33,280 --> 00:25:36,919
Speaker 1: Hill today. Chris Armson's prepared testimony points to the benefits

448
00:25:36,960 --> 00:25:41,080
Speaker 1: of less spending for roads, parking garages, and public transportation systems.

449
00:25:41,280 --> 00:25:44,280
Speaker 1: Here just Congress to see is a huge opportunity to

450
00:25:44,359 --> 00:25:47,480
Speaker 1: further the technology by enabling the Department of Transportation to

451
00:25:47,560 --> 00:25:51,320
Speaker 1: get behind deployment of self driving cars. Representatives of General Motors,

452
00:25:51,359 --> 00:25:55,200
Speaker 1: Delphi Automotive, and the ride booking service Lift also schedule

453
00:25:55,280 --> 00:25:58,360
Speaker 1: to testify. The next Twitter engineer who sued over alleged

454
00:25:58,400 --> 00:26:01,600
Speaker 1: gender bias probably won't get to expand her case to

455
00:26:01,760 --> 00:26:06,280
Speaker 1: challenge a contract provision barring departing employees from recruiting their colleagues.

456
00:26:06,720 --> 00:26:09,480
Speaker 1: That would let Twitter and other Silicon Valley companies dodge

457
00:26:09,480 --> 00:26:12,040
Speaker 1: a bullet that could force an end the hiring practice.

458
00:26:12,440 --> 00:26:15,119
Speaker 1: And what's causing warming of the planet. The answer may

459
00:26:15,160 --> 00:26:18,199
Speaker 1: be frozen in time, and science drilling down deep to

460
00:26:18,200 --> 00:26:21,080
Speaker 1: find it, sealed in an ice core that allows them

461
00:26:21,119 --> 00:26:23,639
Speaker 1: to see changes in the atmosphere over time. They'll need

462
00:26:23,680 --> 00:26:26,160
Speaker 1: to drill to find ice that's one and a half

463
00:26:26,280 --> 00:26:29,560
Speaker 1: million years old, about the time the interval between ice

464
00:26:29,600 --> 00:26:32,640
Speaker 1: ages grew to about a hundred thousand years. The composition

465
00:26:32,760 --> 00:26:36,159
Speaker 1: might offer clues to what causes Earth's climate cycles, and

466
00:26:36,200 --> 00:26:38,520
Speaker 1: that's the Bloomberg n J I T Stem Report. Mike,

467
00:26:38,560 --> 00:26:40,359
Speaker 1: If you want to know how far they need to

468
00:26:40,359 --> 00:26:42,440
Speaker 1: go for one and a half million year old ice,

469
00:26:42,880 --> 00:26:45,280
Speaker 1: think of a core sample that's something like a two

470
00:26:45,280 --> 00:26:48,479
Speaker 1: mile long popsicle when it's laid from end. You know

471
00:26:48,600 --> 00:26:51,840
Speaker 1: some kids that would like that, uh, cherry flavored. If

472
00:26:51,960 --> 00:26:55,119
Speaker 1: if you play Bob, thank you very much. We're talking

473
00:26:55,200 --> 00:26:58,600
Speaker 1: with E. J. Dion, of course, the long time American

474
00:26:58,640 --> 00:27:01,760
Speaker 1: political journalist and Common tailor, a long time Op ed columnist,

475
00:27:01,800 --> 00:27:04,399
Speaker 1: for the Washington Post. He's a senior fellow in Government

476
00:27:04,480 --> 00:27:07,840
Speaker 1: Studies at the Brookings Institution. He's also a prolific author,

477
00:27:07,880 --> 00:27:09,840
Speaker 1: and I want to talk to you about some of

478
00:27:09,840 --> 00:27:13,479
Speaker 1: your books. Obviously, where Why the Right Went Wrong is

479
00:27:13,560 --> 00:27:17,359
Speaker 1: your latest book. Tom was talking about that just a

480
00:27:17,400 --> 00:27:19,000
Speaker 1: few moments ago. I want to go back to some

481
00:27:19,080 --> 00:27:21,080
Speaker 1: of some of your back catalogs. If we can sell

482
00:27:21,160 --> 00:27:23,760
Speaker 1: some of those, I'm all for that. Although I can't

483
00:27:23,800 --> 00:27:26,280
Speaker 1: get that two mile long popsicle out of my head.

484
00:27:26,800 --> 00:27:29,199
Speaker 1: I know you think you've got kids who would like

485
00:27:29,240 --> 00:27:35,040
Speaker 1: that too. I'm sure. Uh, why Americans hate politics? Um,

486
00:27:35,200 --> 00:27:37,840
Speaker 1: that was a long time ago. What would you what

487
00:27:37,920 --> 00:27:40,840
Speaker 1: would you update it with today? What would you say

488
00:27:40,840 --> 00:27:44,200
Speaker 1: if you were writing that today. Well, you know, that's

489
00:27:44,280 --> 00:27:47,080
Speaker 1: part of the core argument that I made. There is

490
00:27:47,160 --> 00:27:49,400
Speaker 1: something I still believe and I still think it's true

491
00:27:49,440 --> 00:27:53,840
Speaker 1: for a lot of Americans, which is um that politics

492
00:27:53,920 --> 00:27:57,639
Speaker 1: often presents itself as a series of false choices that

493
00:27:57,760 --> 00:28:01,359
Speaker 1: people don't accept as choices for you know, one of

494
00:28:01,359 --> 00:28:04,360
Speaker 1: the things I wrote about back then is at the time,

495
00:28:04,400 --> 00:28:05,960
Speaker 1: we were talking a lot about what you're either a

496
00:28:06,000 --> 00:28:08,840
Speaker 1: feminist or your pro family. Well, we know twenty five

497
00:28:08,920 --> 00:28:12,119
Speaker 1: years later that most people still care a lot about

498
00:28:12,160 --> 00:28:15,359
Speaker 1: the family, but they also believe that men and women

499
00:28:15,400 --> 00:28:18,360
Speaker 1: are equal. The another one was a false choice between

500
00:28:18,720 --> 00:28:21,760
Speaker 1: your your pro environment or your for economic growth. Well,

501
00:28:21,800 --> 00:28:24,159
Speaker 1: we've shown over a long period of time that we

502
00:28:24,200 --> 00:28:26,840
Speaker 1: could have economic growth and protect the environment at the

503
00:28:26,880 --> 00:28:30,480
Speaker 1: same time. So I think the argument about false choices,

504
00:28:30,600 --> 00:28:33,440
Speaker 1: I would I still think is very much is very

505
00:28:33,440 --> 00:28:37,200
Speaker 1: relevant to our politics now. Um I think back then

506
00:28:37,320 --> 00:28:42,320
Speaker 1: I did not anticipate that conservatives would move as resolutely

507
00:28:43,000 --> 00:28:46,120
Speaker 1: to the right as they have. Uh Now, I wrote

508
00:28:46,160 --> 00:28:51,160
Speaker 1: that book was written during the presidency of George H. W. Bush,

509
00:28:51,200 --> 00:28:55,360
Speaker 1: the first President Bush, who obviously presented a very different

510
00:28:55,360 --> 00:28:59,440
Speaker 1: profile than we're seeing today, particularly from Donald Trump, And

511
00:28:59,720 --> 00:29:02,560
Speaker 1: in this campaign we saw that, at least for now,

512
00:29:02,600 --> 00:29:05,800
Speaker 1: there are some more Bushes coming up, but the Bush

513
00:29:05,800 --> 00:29:09,040
Speaker 1: option is not an option that Americans wanted to take

514
00:29:09,080 --> 00:29:13,480
Speaker 1: this time. Another another book, you wrote, they only looked

515
00:29:13,520 --> 00:29:17,720
Speaker 1: yet why progressives will dominate the next political era? Maybe

516
00:29:17,720 --> 00:29:21,920
Speaker 1: a little early, but we're there now do they continue

517
00:29:22,040 --> 00:29:26,000
Speaker 1: to dominate? You know, we're looking at Sanders and Clinton

518
00:29:26,360 --> 00:29:28,960
Speaker 1: argue over who's more progressive. But four years from now,

519
00:29:28,960 --> 00:29:31,600
Speaker 1: are we going to be hearing the same well in

520
00:29:31,680 --> 00:29:36,120
Speaker 1: that book. My point was that in a period of

521
00:29:36,400 --> 00:29:40,520
Speaker 1: great economic change, which we were beginning to go through,

522
00:29:40,560 --> 00:29:44,640
Speaker 1: then the wise of the tech e era, Americans tend

523
00:29:44,720 --> 00:29:47,920
Speaker 1: to look to government to take some steps to make

524
00:29:48,000 --> 00:29:51,080
Speaker 1: things fairer. That a lot of people are dislocated in

525
00:29:51,200 --> 00:29:54,200
Speaker 1: periods of economic change. Um. You know, we went from

526
00:29:54,240 --> 00:29:57,040
Speaker 1: forum to factory, from small town to the big city

527
00:29:57,080 --> 00:30:00,280
Speaker 1: a hundred or so over a hundred years ago now,

528
00:30:00,800 --> 00:30:03,840
Speaker 1: and we were moving starting in the nineties, from an

529
00:30:03,880 --> 00:30:06,440
Speaker 1: industrial economy to a tech economy. And I think you're

530
00:30:06,480 --> 00:30:11,040
Speaker 1: seeing in the revolts of voters supporting Bertie Sanders, who's

531
00:30:11,080 --> 00:30:14,760
Speaker 1: clearly explicitly pro government, but also Trump, who's got this

532
00:30:14,880 --> 00:30:20,240
Speaker 1: very mixed complicated ideology with a dose of authoritarianism in it. Um,

533
00:30:20,440 --> 00:30:24,360
Speaker 1: you're seeing the same frustrations with our failure to manage

534
00:30:24,440 --> 00:30:27,760
Speaker 1: this economic transition. I think that so much of the

535
00:30:27,800 --> 00:30:31,000
Speaker 1: turmoil is so many people are being heard in this

536
00:30:31,080 --> 00:30:34,800
Speaker 1: economic transition and they're not getting much help getting through it.

537
00:30:35,320 --> 00:30:37,640
Speaker 1: Too much to talk about. E J. D own with

538
00:30:37,760 --> 00:30:40,200
Speaker 1: us UH with the Washington Post is a new book,

539
00:30:40,240 --> 00:30:43,720
Speaker 1: Why the Right Went Wrong? Conservatism from gold Water the

540
00:30:43,760 --> 00:30:47,640
Speaker 1: Tea Party and beyond an important perspective on a U

541
00:30:47,800 --> 00:30:50,760
Speaker 1: H two. Oh yeah, we'll definitely continue our conversation with

542
00:30:50,840 --> 00:30:54,400
Speaker 1: EJ throughout the political year. It is the most interesting thing.

543
00:30:54,400 --> 00:30:56,080
Speaker 1: And of course what we're trying to do, folks, is

544
00:30:56,160 --> 00:30:59,640
Speaker 1: less the horse race and much more driving forward to

545
00:31:00,800 --> 00:31:03,360
Speaker 1: We're going to say some part of the horse no no,

546
00:31:04,280 --> 00:31:07,040
Speaker 1: which which seems to me to begether's more after Florida

547
00:31:07,040 --> 00:31:11,920
Speaker 1: and Ohio. But the convention's beckon to say the least.

548
00:31:13,160 --> 00:31:18,120
Speaker 1: The futures negative ten, job futures negative sixty seven. Bloomberg's Deveillance.

549
00:31:20,880 --> 00:31:22,920
Speaker 1: Bloombergs Aveillance is brought to you by s c n B,

550
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Speaker 1: the bank for businesses on the move. Are you looking

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Speaker 1: Sunshine on Thursday with the best rode in and out

555
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Speaker 1: of the city option Crisban Bloomberg eleventh three oh Bloomberg

556
00:31:41,840 --> 00:31:48,840
Speaker 1: Surveillance now Gloobal Business News twenty four hours a day

557
00:31:48,840 --> 00:31:51,760
Speaker 1: at Bloomberg dot com, the radio plus mobile app and

558
00:31:51,920 --> 00:31:56,160
Speaker 1: on your radio is a Bloomberg business flash and I'm

559
00:31:56,160 --> 00:31:58,800
Speaker 1: throw in Moscow. This update is brought to you Bisector

560
00:31:58,880 --> 00:32:01,160
Speaker 1: Spider e t F to why by a single stock

561
00:32:01,200 --> 00:32:04,280
Speaker 1: when you can invest in the entire sector. Visits sector

562
00:32:04,520 --> 00:32:07,160
Speaker 1: s p d R S dot com are called six

563
00:32:07,200 --> 00:32:10,520
Speaker 1: sector et f U S DOT index futures are lower

564
00:32:10,720 --> 00:32:13,360
Speaker 1: this morning, with SMP eveny futures down ten and a

565
00:32:13,400 --> 00:32:16,440
Speaker 1: half points, now eveny futures down seventy two and NAS

566
00:32:16,480 --> 00:32:20,480
Speaker 1: documnity futures down fourteen. This is investors consider the capacity

567
00:32:20,520 --> 00:32:22,880
Speaker 1: of central banks to boost a global growth. Do you

568
00:32:22,960 --> 00:32:25,440
Speaker 1: check the markets every fifteen minutes throughout the trading day?

569
00:32:25,480 --> 00:32:28,360
Speaker 1: On Bloomberg, Dox in Germany is down six tenths per cent,

570
00:32:28,480 --> 00:32:30,520
Speaker 1: the FT one hundred down seven tenths per cent in

571
00:32:30,600 --> 00:32:33,320
Speaker 1: the CACH in Paris down nine tenths per cent. Tenure

572
00:32:33,360 --> 00:32:35,800
Speaker 1: Treasury is of six thirty seconds, the yield one point

573
00:32:35,880 --> 00:32:38,400
Speaker 1: nine three percent yield on the two year point nine

574
00:32:38,480 --> 00:32:41,920
Speaker 1: four percent. Nimex screwed oil is down two point three

575
00:32:41,960 --> 00:32:44,560
Speaker 1: percent or eighty seven cents at thirty six thirty one.

576
00:32:44,600 --> 00:32:47,120
Speaker 1: A barrel comex s goold down seven tenths per cent

577
00:32:47,240 --> 00:32:50,600
Speaker 1: or eight dollars seventy cents to twelve thirty six forty ounce,

578
00:32:50,960 --> 00:32:53,200
Speaker 1: the euros at a dollar ten ninety four, the yen

579
00:32:53,240 --> 00:32:57,840
Speaker 1: at one thirteen even. Valion Pharmaceuticals International down about seventeen

580
00:32:57,880 --> 00:33:01,000
Speaker 1: percent at early trading after lowering its sales and profit

581
00:33:01,080 --> 00:33:05,720
Speaker 1: forecast for six Freeport mcmaran down fourteen and a half

582
00:33:05,800 --> 00:33:08,880
Speaker 1: percent this morning. Is commodity prices declined for a second

583
00:33:09,080 --> 00:33:13,200
Speaker 1: day and Jefferies Group reporting a fiscal first quarter loss

584
00:33:13,960 --> 00:33:17,040
Speaker 1: as trading stocks and bonds tumbled two percent. And I'm

585
00:33:17,080 --> 00:33:21,160
Speaker 1: sorry Freeport mcmaran rather down four and a half percent

586
00:33:21,320 --> 00:33:23,600
Speaker 1: this as commodity prices declined for a second day. So

587
00:33:23,680 --> 00:33:26,600
Speaker 1: four and a half percent decline for Freeport mcmaran. That's

588
00:33:26,640 --> 00:33:31,160
Speaker 1: a Bloomberg business flash. Tom and Mike Karen Mosca, thank

589
00:33:31,240 --> 00:33:36,160
Speaker 1: you very much. Tom. Depressing tweet here out of Russia.

590
00:33:36,920 --> 00:33:40,680
Speaker 1: Uh someone in Russian quoting Vladimir Prutin this morning. The

591
00:33:40,800 --> 00:33:45,239
Speaker 1: people approve of repressive measures, even the Interior Ministry if

592
00:33:45,320 --> 00:33:48,640
Speaker 1: they are in the public interest. Wasn't that said this weekend?

593
00:33:48,920 --> 00:33:53,920
Speaker 1: And am yeah you would uh we would have laughed

594
00:33:53,920 --> 00:33:56,160
Speaker 1: about that at some point and made fun of them,

595
00:33:56,320 --> 00:33:59,240
Speaker 1: but no longer checked out. Is the host of NBC's

596
00:33:59,640 --> 00:34:03,560
Speaker 1: Meet the Press, also the political director for NBC News

597
00:34:03,800 --> 00:34:06,640
Speaker 1: and uh star of Bloomberg Radio because you can hear

598
00:34:06,680 --> 00:34:10,120
Speaker 1: me the Press every Sunday twelve and three here eleven

599
00:34:10,160 --> 00:34:13,319
Speaker 1: and three, rather here on a Bloomberg Radio A Good Morning, Chuck.

600
00:34:13,719 --> 00:34:16,759
Speaker 1: Is kind of weird that something like that could be

601
00:34:16,800 --> 00:34:19,560
Speaker 1: said in Russia and it could equally almost apply to

602
00:34:19,960 --> 00:34:22,560
Speaker 1: political candidate here in the United States. You know, it's

603
00:34:22,719 --> 00:34:26,439
Speaker 1: very interesting what's going on. David Brooks actually two shows

604
00:34:26,480 --> 00:34:29,160
Speaker 1: ago noted this as well, which is, you know, when

605
00:34:29,200 --> 00:34:32,680
Speaker 1: we're as a society exciety, there's always a portion in

606
00:34:32,719 --> 00:34:37,319
Speaker 1: a democratic society when they're frustrated with the mechanics of government, right,

607
00:34:37,320 --> 00:34:41,319
Speaker 1: when they're frustrated that things don't get done, where they

608
00:34:41,400 --> 00:34:46,160
Speaker 1: sit there and say, well, I'd like a more um.

609
00:34:46,440 --> 00:34:48,200
Speaker 1: You know, they don't want to say they want an autocrat,

610
00:34:48,560 --> 00:34:51,160
Speaker 1: but essentially they want a strong man, right, a strong man,

611
00:34:51,719 --> 00:34:53,960
Speaker 1: you know, you know when they trust. But there is

612
00:34:54,000 --> 00:34:56,600
Speaker 1: this idea of looking for strength. So but he is

613
00:34:56,680 --> 00:35:00,440
Speaker 1: appealing to this portion of the electorate that would what

614
00:35:00,680 --> 00:35:05,439
Speaker 1: wants an efficient manager. Um. And you know, I think

615
00:35:05,880 --> 00:35:09,440
Speaker 1: there is that fine line is from strong leader to

616
00:35:09,520 --> 00:35:13,440
Speaker 1: a strong man, you know it does. It's within degrees,

617
00:35:13,520 --> 00:35:16,160
Speaker 1: that's for sure. Chuck. We've got a back up here,

618
00:35:16,239 --> 00:35:19,880
Speaker 1: and for our global audience, make clear that Mr Todd

619
00:35:20,800 --> 00:35:27,160
Speaker 1: uh basically invented granularity and political analysis, is a ute

620
00:35:27,880 --> 00:35:30,240
Speaker 1: and that he has been a pinata from Mr Trump

621
00:35:30,400 --> 00:35:34,399
Speaker 1: long before Mr Trump decided to run for office. Mr

622
00:35:34,480 --> 00:35:37,759
Speaker 1: Trump taking after you out on Twitter, I think you've

623
00:35:37,800 --> 00:35:41,040
Speaker 1: got a more interesting take on this, arguably anybody in

624
00:35:41,080 --> 00:35:44,760
Speaker 1: the media. And the simple answer is if he moves

625
00:35:44,880 --> 00:35:49,640
Speaker 1: to the middle, is any candidate must did the people

626
00:35:49,760 --> 00:35:53,000
Speaker 1: that support him and taking shots at Chuck Todd among

627
00:35:53,080 --> 00:35:57,279
Speaker 1: other things, do they move with him? I can't get there. Well,

628
00:35:57,360 --> 00:35:59,359
Speaker 1: I think Kid's people move with him. What I don't

629
00:35:59,440 --> 00:36:01,839
Speaker 1: know is how does he grow? But his people are

630
00:36:01,880 --> 00:36:05,080
Speaker 1: his people. Okay, I think we have let's let's you know,

631
00:36:05,719 --> 00:36:09,279
Speaker 1: twenty two contests, now, how many times we go, oh boy,

632
00:36:09,440 --> 00:36:12,080
Speaker 1: this one could hurt him, this one could nothing. Heels

633
00:36:12,200 --> 00:36:15,600
Speaker 1: support away from him. Now the question is does he

634
00:36:15,680 --> 00:36:19,600
Speaker 1: add to it? Can he add on support um and

635
00:36:19,920 --> 00:36:22,279
Speaker 1: in in in the primaries, and that's where we haven't

636
00:36:22,280 --> 00:36:24,600
Speaker 1: seen any evidence that he can add on support. And

637
00:36:24,719 --> 00:36:27,480
Speaker 1: so as the field narrows, he seems to be getting

638
00:36:27,760 --> 00:36:30,560
Speaker 1: in depending on the states potentially vulnerable. So we'll find

639
00:36:30,560 --> 00:36:34,160
Speaker 1: out tonight. But I think that's the tectomy is still

640
00:36:34,280 --> 00:36:39,400
Speaker 1: an open question. Everything he does reinforces his support, including

641
00:36:39,480 --> 00:36:41,239
Speaker 1: the idea of saying, yeah, I'll look into pay in

642
00:36:41,280 --> 00:36:42,959
Speaker 1: the legal fees, or you know, I want to punch

643
00:36:43,040 --> 00:36:45,800
Speaker 1: these protests. His people love it, but it's not a

644
00:36:45,840 --> 00:36:48,760
Speaker 1: way to grow support. And if he doesn't grow support

645
00:36:49,120 --> 00:36:51,520
Speaker 1: and he's short of the delegates of the convention, I

646
00:36:51,600 --> 00:36:53,880
Speaker 1: think the party is going to feel as if a

647
00:36:54,000 --> 00:36:56,840
Speaker 1: majority of the Republican Party is saying stop him. And

648
00:36:56,960 --> 00:37:00,360
Speaker 1: if that's what the message is by the can engin,

649
00:37:00,760 --> 00:37:03,440
Speaker 1: he's not going to find the fifty delegacy may need

650
00:37:03,520 --> 00:37:06,120
Speaker 1: if he's fifty short, for instance, to get that nomination.

651
00:37:07,480 --> 00:37:10,239
Speaker 1: Ron Fournier in The Atlantic today and E J. D.

652
00:37:10,400 --> 00:37:14,800
Speaker 1: N was agreeing with the sentiment, suggesting that the ultimate

653
00:37:15,160 --> 00:37:19,640
Speaker 1: problem we're going to have is that because Trump is

654
00:37:19,760 --> 00:37:24,160
Speaker 1: so divisive and has lied so much, and because Hillary

655
00:37:24,200 --> 00:37:28,279
Speaker 1: Clinton is so untrusted by people that you know, even

656
00:37:28,320 --> 00:37:30,239
Speaker 1: if you get past the campaign, you're going to have

657
00:37:30,400 --> 00:37:33,720
Speaker 1: trouble governing no matter. I think it's ungovernable. It's funny

658
00:37:33,719 --> 00:37:35,719
Speaker 1: you said. I completely agree with Round and he and

659
00:37:35,800 --> 00:37:38,840
Speaker 1: I talked about this a lot. It doesn't matter what happened.

660
00:37:38,920 --> 00:37:40,680
Speaker 1: First of all, you're gonna have the country that's going

661
00:37:40,760 --> 00:37:43,719
Speaker 1: to think the election wasn't a legitimate Particularly Trump will

662
00:37:43,800 --> 00:37:45,160
Speaker 1: this is. I think his people are going to say

663
00:37:45,160 --> 00:37:48,200
Speaker 1: it would somehow taken away from him. Um, it doesn't matter.

664
00:37:48,920 --> 00:37:51,600
Speaker 1: You know, there's gonna be a legitimacy issue. I think

665
00:37:51,640 --> 00:37:54,480
Speaker 1: the second is there's going to be whoever becomes president,

666
00:37:54,520 --> 00:37:56,560
Speaker 1: whether it's Trump or Clinton, Let's say that's what happens,

667
00:37:56,680 --> 00:37:59,840
Speaker 1: that's the the general election. Whoever wins is going to

668
00:38:00,719 --> 00:38:03,239
Speaker 1: already have a negative approval rating. That's no way to govern.

669
00:38:03,320 --> 00:38:05,399
Speaker 1: There's no hay moon there, there's no way of sort

670
00:38:05,440 --> 00:38:08,160
Speaker 1: of turning a page or something about a presidential election

671
00:38:08,200 --> 00:38:11,120
Speaker 1: that usually we all want to take a brass and

672
00:38:11,320 --> 00:38:14,399
Speaker 1: and give the new guy, a new guy or gallant chance. Um,

673
00:38:14,719 --> 00:38:17,440
Speaker 1: under this scenario, there wouldn't be. It will be so destructive.

674
00:38:18,200 --> 00:38:20,040
Speaker 1: So I don't I don't know where this goes. Um,

675
00:38:20,160 --> 00:38:23,000
Speaker 1: I'm pretty pessimistic. I do think that gate all over again.

676
00:38:23,239 --> 00:38:26,399
Speaker 1: Please Si Nixon and Humphrey. I don't think it would

677
00:38:26,400 --> 00:38:28,000
Speaker 1: have mattered both. I think Humphrey would have had a

678
00:38:28,000 --> 00:38:31,640
Speaker 1: failed presidency too, you know, I mean struggle in either way.

679
00:38:31,840 --> 00:38:34,359
Speaker 1: That's the mood the country's in, Chuck. I looked at

680
00:38:34,640 --> 00:38:37,600
Speaker 1: Cleveland conventions and it took me back to Calvin cool.

681
00:38:37,640 --> 00:38:40,640
Speaker 1: It's twenty four in elf Land and six. I mean,

682
00:38:40,680 --> 00:38:43,680
Speaker 1: the Republican Party is allowed to morphous. Democratic Party doesn't.

683
00:38:43,719 --> 00:38:47,400
Speaker 1: Any But when you sit around NBC with Ms Mitchell

684
00:38:47,600 --> 00:38:52,120
Speaker 1: and with Mr Williams and the others at MSNBC and NBC,

685
00:38:52,840 --> 00:38:58,160
Speaker 1: what is the framework of your discussion that the establishment

686
00:38:58,480 --> 00:39:01,440
Speaker 1: is going to reach out to Mr Trump? I haven't

687
00:39:01,480 --> 00:39:05,600
Speaker 1: observed that yet. I think he did a lot of

688
00:39:05,680 --> 00:39:08,600
Speaker 1: damage to himself this weekend. You know, look every all

689
00:39:08,640 --> 00:39:11,440
Speaker 1: these you know, the establishments not looking for much from Trump,

690
00:39:11,920 --> 00:39:13,759
Speaker 1: but they're looking for a little bit of effort, a

691
00:39:13,840 --> 00:39:16,200
Speaker 1: little bit of owning it down, a little bit of

692
00:39:16,280 --> 00:39:21,520
Speaker 1: presidential acting. And he'll do it for about um thirty minutes.

693
00:39:22,040 --> 00:39:24,680
Speaker 1: You know, he'll do it tonight, right, He's done it

694
00:39:24,760 --> 00:39:26,719
Speaker 1: this morning on the shows already, the morning shows that

695
00:39:26,760 --> 00:39:29,359
Speaker 1: he's called into. He'll come across reserving Comma and then

696
00:39:29,440 --> 00:39:32,040
Speaker 1: by tomorrow or the next day he'll say something outrageous,

697
00:39:32,360 --> 00:39:34,880
Speaker 1: say something outlandish, and then we go through this, we

698
00:39:34,960 --> 00:39:37,480
Speaker 1: go through the motions all over again. So I think

699
00:39:37,520 --> 00:39:42,480
Speaker 1: the establishment, you know, especially if if he loses Ohio tonight,

700
00:39:43,040 --> 00:39:47,920
Speaker 1: will feel like they shouldn't stop trying to stop him. Um,

701
00:39:48,040 --> 00:39:50,399
Speaker 1: they'll throw in the town if he wins Ohio because

702
00:39:50,440 --> 00:39:52,800
Speaker 1: he's probably gonna toward us to But if he doesn't,

703
00:39:52,840 --> 00:39:55,040
Speaker 1: I think it only is going to make the establishment

704
00:39:55,239 --> 00:39:58,360
Speaker 1: feel as if you know what they have, they have

705
00:39:58,560 --> 00:40:01,080
Speaker 1: a majority of the party behind to stop them. That's

706
00:40:01,360 --> 00:40:03,560
Speaker 1: that's going to be the mindsetiment and that is something

707
00:40:03,640 --> 00:40:06,480
Speaker 1: that is something that Trump needs to needs to do.

708
00:40:06,640 --> 00:40:08,239
Speaker 1: He still needs to win over a majority of the

709
00:40:08,280 --> 00:40:12,480
Speaker 1: party at some point. He's not there yet. Um. Super Tuesday,

710
00:40:13,120 --> 00:40:16,560
Speaker 1: Super Tuesday too, as we could call this is important,

711
00:40:16,600 --> 00:40:20,880
Speaker 1: of course, but uh even more important to most Americans

712
00:40:21,000 --> 00:40:24,879
Speaker 1: the n C Double A Tournament gets underway. You're you're

713
00:40:24,920 --> 00:40:28,200
Speaker 1: George Washington Colonials left out they'll play tomorrow in the

714
00:40:28,360 --> 00:40:30,080
Speaker 1: n I t But I know you also have a

715
00:40:30,160 --> 00:40:32,719
Speaker 1: rooting interest in how the University of Miami does. Yeah,

716
00:40:32,719 --> 00:40:34,360
Speaker 1: I was just gonna say I really started at the

717
00:40:34,360 --> 00:40:36,520
Speaker 1: beginning of the year. I'm going to get both of them, Attorney,

718
00:40:37,680 --> 00:40:39,480
Speaker 1: I still could make a case that g W should

719
00:40:39,480 --> 00:40:41,520
Speaker 1: have been in. They beat the biggest chance to even

720
00:40:41,560 --> 00:40:43,360
Speaker 1: all They beat U b A at number one seed.

721
00:40:43,440 --> 00:40:45,920
Speaker 1: So I'm just saying, you know, GW is one of

722
00:40:45,960 --> 00:40:48,280
Speaker 1: those bubble teams that deserve a little better treatment. Exactly

723
00:40:48,320 --> 00:40:51,759
Speaker 1: that said my arricade. I'll tell you that they got

724
00:40:51,880 --> 00:40:53,800
Speaker 1: they got a really tough draw. I think the toughest

725
00:40:53,840 --> 00:40:57,840
Speaker 1: bracket in the region that South Kansas, Villanova, Miami. Do

726
00:40:57,880 --> 00:40:59,840
Speaker 1: you know at one point all three of them work

727
00:41:00,000 --> 00:41:02,840
Speaker 1: considered one seats in the last two weeks, Miami that

728
00:41:02,960 --> 00:41:05,040
Speaker 1: they won the last two games in the SEC Tournament

729
00:41:05,400 --> 00:41:10,719
Speaker 1: v A, and they'd have been a one seat. So Chuck,

730
00:41:10,800 --> 00:41:13,760
Speaker 1: I just finished my bracket. Francie lak Over in London

731
00:41:13,880 --> 00:41:16,880
Speaker 1: helped me out. Um, we went with the blue uniforms.

732
00:41:17,680 --> 00:41:22,120
Speaker 1: So we've got North Carolina and Kansas and for the

733
00:41:22,200 --> 00:41:25,400
Speaker 1: Roy Williams the Roy Wayams final. Huh, who have you

734
00:41:25,520 --> 00:41:29,040
Speaker 1: got in your bracket? So I went some good advice.

735
00:41:29,640 --> 00:41:31,600
Speaker 1: I went hard overhead. I went ahead with the Miami

736
00:41:31,680 --> 00:41:37,600
Speaker 1: North Carolina final. Even I know that realistically, I think

737
00:41:37,640 --> 00:41:40,120
Speaker 1: Miami gets to the eight and loses. I think the

738
00:41:40,200 --> 00:41:42,000
Speaker 1: seniors matter, and that will get them to the eight.

739
00:41:42,040 --> 00:41:44,040
Speaker 1: I think Glennaga is a great coach, but I think

740
00:41:44,080 --> 00:41:46,359
Speaker 1: they lose the Kansas. But but my heart, I'm going

741
00:41:46,400 --> 00:41:49,040
Speaker 1: ahead and because they'll be it's more fun to at

742
00:41:49,120 --> 00:41:51,800
Speaker 1: least route for your team all the way. I recommend

743
00:41:51,880 --> 00:41:54,239
Speaker 1: you bring up this line of conversation with Mr Trump

744
00:41:54,280 --> 00:41:58,680
Speaker 1: the next time, and I'll speaking un realistically in the

745
00:41:59,200 --> 00:42:02,759
Speaker 1: non bias at uncating campus as well. Chuck Todd, thank

746
00:42:02,840 --> 00:42:05,640
Speaker 1: you so much opinion for Mr Trump. He is with

747
00:42:05,680 --> 00:42:10,239
Speaker 1: the NBC and doing work with MSNBC. So Mike, it's

748
00:42:10,360 --> 00:42:12,640
Speaker 1: hilarious to go back and look at the tweets from

749
00:42:12,719 --> 00:42:16,440
Speaker 1: Mr Trump. Mr, Well, it is and it isn't. I mean,

750
00:42:16,480 --> 00:42:19,360
Speaker 1: it's very it's very sad that that we have gotten

751
00:42:19,400 --> 00:42:21,800
Speaker 1: to the point. And I recommend everybody go to Atlantic

752
00:42:21,840 --> 00:42:24,839
Speaker 1: dot com look up round four years article. Uh. It's

753
00:42:25,640 --> 00:42:29,640
Speaker 1: it is very Uh. It's called Circling the Drain with Trump,

754
00:42:29,719 --> 00:42:33,879
Speaker 1: and it's very great dissection of what we have done

755
00:42:33,920 --> 00:42:37,800
Speaker 1: to ourselves. Just Trump, but it's us, our full discussion

756
00:42:37,880 --> 00:42:40,360
Speaker 1: with us tonight. With all due respect on Mark Halpern

757
00:42:40,400 --> 00:42:44,640
Speaker 1: and John Hilman with perspective on this Tuesday in Florida

758
00:42:45,160 --> 00:42:48,200
Speaker 1: and Ohio. Another hour of Bloomberg's surveillance,