1
00:00:01,600 --> 00:00:04,320
Speaker 1: Live from our nation's cale. This budget thing is going

2
00:00:04,360 --> 00:00:06,800
Speaker 1: to do nothing space forces. I still think it's interesting

3
00:00:06,840 --> 00:00:10,160
Speaker 1: President Trump not playing his cards yet. Headlines Policy and

4
00:00:10,320 --> 00:00:16,400
Speaker 1: Politics colliding Floomberg Sound On, the Insiders, the Influencers. I

5
00:00:16,400 --> 00:00:19,080
Speaker 1: would rather see a congressional solution. It's part of my DNA.

6
00:00:19,360 --> 00:00:22,000
Speaker 1: The Senate map in looks a lot different than it

7
00:00:22,000 --> 00:00:25,360
Speaker 1: looked in. You really have a divide within Team Trump.

8
00:00:25,440 --> 00:00:27,760
Speaker 1: The present has to do exactly what people send him

9
00:00:27,800 --> 00:00:29,680
Speaker 1: here to do, which is to get it done. This

10
00:00:30,120 --> 00:00:35,320
Speaker 1: is Bloomberg Sound On with Kevin Shirley on Bloomberg and

11
00:00:35,479 --> 00:00:39,040
Speaker 1: one oh five point seven fm h D two. Speaker

12
00:00:39,080 --> 00:00:43,479
Speaker 1: of the House Nancy Pelosi speaking exclusively to Bloomberg's David Weston.

13
00:00:43,640 --> 00:00:47,000
Speaker 1: She says she's not a big fan of Medicare for All.

14
00:00:47,400 --> 00:00:51,040
Speaker 1: This is Elizabeth Warren touts her new Medicare for All planned.

15
00:00:51,400 --> 00:00:55,720
Speaker 1: We dive into the specifics and job today smashing expectations,

16
00:00:56,200 --> 00:00:59,800
Speaker 1: really surpassing expectations. I'll give you the number coming up

17
00:00:59,800 --> 00:01:03,160
Speaker 1: in just a few and beyond that, new talks on

18
00:01:03,200 --> 00:01:05,800
Speaker 1: the horizon for U s m C a U s

19
00:01:05,920 --> 00:01:09,080
Speaker 1: m C a quote the easiest trade deal that could

20
00:01:09,080 --> 00:01:12,559
Speaker 1: get a vote in all of this, plus an all

21
00:01:12,640 --> 00:01:17,480
Speaker 1: star panel. Jack Kingston's here, former Georgia Congressman trum campaign

22
00:01:17,600 --> 00:01:21,440
Speaker 1: Sir again, Eli Yokley, political reporter for the Morning consult

23
00:01:21,680 --> 00:01:25,559
Speaker 1: and Pedro Da Costa, director of communications at the Economic

24
00:01:25,640 --> 00:01:28,480
Speaker 1: Policy Institute, thrilled to have all of you here. Check

25
00:01:28,520 --> 00:01:32,080
Speaker 1: the parades tomorrow. The parade is too late in the

26
00:01:32,200 --> 00:01:35,800
Speaker 1: day at used to be in the morning. Said that

27
00:01:35,800 --> 00:01:38,040
Speaker 1: we can take our kids to the tea ball diamond

28
00:01:38,120 --> 00:01:41,520
Speaker 1: afterwards and start practicing them. We get back at four o'clock,

29
00:01:41,520 --> 00:01:44,960
Speaker 1: it'll be dark, they'll have a bad attitude, they'll have jack.

30
00:01:45,000 --> 00:01:47,440
Speaker 1: They won the World Series. Come on, well, okay, let

31
00:01:47,440 --> 00:01:49,600
Speaker 1: me say this. You know what, It is a great

32
00:01:49,680 --> 00:01:53,000
Speaker 1: moment for Washington d c. In the nation because if

33
00:01:53,000 --> 00:01:57,800
Speaker 1: you look at that moment, yeah, well yes, if you

34
00:01:57,840 --> 00:01:59,960
Speaker 1: look at the crowd. And by the way, I was

35
00:02:00,080 --> 00:02:03,000
Speaker 1: watching the game with Ted Cruz because at the same

36
00:02:03,080 --> 00:02:06,360
Speaker 1: time I already we were at the basketball game when

37
00:02:06,360 --> 00:02:10,920
Speaker 1: the Rockets beat the Washington Wizards in a game that

38
00:02:10,960 --> 00:02:12,919
Speaker 1: went down to the last nine seconds, one of the

39
00:02:12,960 --> 00:02:17,200
Speaker 1: highest scoring basketball games in history, one fifty nine to

40
00:02:17,320 --> 00:02:21,080
Speaker 1: one fifty six. So the baseball was being looking for

41
00:02:21,240 --> 00:02:23,840
Speaker 1: runs the basketball team could have given him a few

42
00:02:23,960 --> 00:02:26,320
Speaker 1: How about that win last night and and that storm.

43
00:02:26,320 --> 00:02:27,960
Speaker 1: And all I kept thinking was, look, you can win

44
00:02:28,000 --> 00:02:29,960
Speaker 1: the World Series and you still have to land at

45
00:02:30,000 --> 00:02:32,880
Speaker 1: dullas Eli. I just can't believe Ted Cruz wasn't there

46
00:02:32,880 --> 00:02:35,160
Speaker 1: to watch the last game of the World Series. That's

47
00:02:35,160 --> 00:02:37,280
Speaker 1: gonna be news to some Texans, like all duty, he

48
00:02:37,360 --> 00:02:40,119
Speaker 1: was there, He was there all the other games. Had

49
00:02:40,160 --> 00:02:42,720
Speaker 1: to come back and vote. Wow, wow, I have to

50
00:02:42,720 --> 00:02:44,600
Speaker 1: have a great vote. All right, So did you guys

51
00:02:44,600 --> 00:02:47,280
Speaker 1: see this big interview? Speaker of the House Nancy Pelosi

52
00:02:47,400 --> 00:02:50,800
Speaker 1: was in New York at Bloomberg World headquarters earlier today

53
00:02:50,840 --> 00:02:54,000
Speaker 1: and she spoke exclusively with Bloomberg's David Weston. He did

54
00:02:54,040 --> 00:02:56,600
Speaker 1: such a great job on this interview. And I want

55
00:02:56,600 --> 00:02:59,880
Speaker 1: to start with impeachment because obviously that's really the dry

56
00:03:00,120 --> 00:03:03,280
Speaker 1: being forced for the next I don't know to the

57
00:03:03,400 --> 00:03:06,080
Speaker 1: four months. Is that the time window? Now? Take a

58
00:03:06,120 --> 00:03:09,440
Speaker 1: listen to what Speaker Pelosi told my colleague David Weston

59
00:03:09,560 --> 00:03:12,200
Speaker 1: about the impeachment and not having a choice to do it.

60
00:03:12,240 --> 00:03:14,560
Speaker 1: Here she is, we have no choice. We took an

61
00:03:14,560 --> 00:03:17,840
Speaker 1: oath to protect and defend our democracy, and that is

62
00:03:17,919 --> 00:03:20,639
Speaker 1: what he hasn't made an assault on. And as the

63
00:03:20,720 --> 00:03:24,680
Speaker 1: Republicans have a higher loyalty to the president than they

64
00:03:24,680 --> 00:03:28,960
Speaker 1: do to their oath of office, that's their problem. On

65
00:03:29,000 --> 00:03:31,480
Speaker 1: the one hand, Jack, I kind of agree with her

66
00:03:31,520 --> 00:03:33,239
Speaker 1: in the sense that she really didn't have a choice

67
00:03:33,240 --> 00:03:35,640
Speaker 1: because she was under so much pressure from the progressive

68
00:03:35,680 --> 00:03:38,480
Speaker 1: base of her party. Uh, you know, she had a

69
00:03:38,560 --> 00:03:42,520
Speaker 1: choice in terms of making it fair. Instead, with a

70
00:03:42,560 --> 00:03:48,920
Speaker 1: Democrat versus Republican rules committee, nine Democrats versus four Republicans,

71
00:03:48,960 --> 00:03:52,200
Speaker 1: they voted out a rules on impeachment package which does

72
00:03:52,240 --> 00:03:57,600
Speaker 1: not give equal witnesses, equal time allocation, equal release of

73
00:03:57,680 --> 00:04:01,720
Speaker 1: documents and transcripts. And so let's just let's just take

74
00:04:01,760 --> 00:04:04,240
Speaker 1: her out of word that suddenly she's the most patriotic

75
00:04:04,280 --> 00:04:07,120
Speaker 1: purist in America right now, and that she loves the

76
00:04:07,160 --> 00:04:10,040
Speaker 1: flag and she hated doing this impeachment even though they

77
00:04:10,040 --> 00:04:13,280
Speaker 1: started on in November two thousand and sixteen. But let's

78
00:04:13,320 --> 00:04:15,640
Speaker 1: just say all that is true, why didn't they do

79
00:04:15,680 --> 00:04:18,559
Speaker 1: a fair process, particularly if he's as guilty as they'd

80
00:04:18,560 --> 00:04:21,159
Speaker 1: like us to believe. So, Eli, how is how is

81
00:04:21,160 --> 00:04:24,600
Speaker 1: impeachment polling right now? Because the polls suggests that Americans

82
00:04:24,600 --> 00:04:28,280
Speaker 1: are behind the impeachment inquiry, that it remains a politically

83
00:04:28,320 --> 00:04:33,480
Speaker 1: divisive issue. But do the polls show if Americans are

84
00:04:34,520 --> 00:04:36,800
Speaker 1: actively I don't want to say actively following this, but

85
00:04:36,880 --> 00:04:39,560
Speaker 1: are as as obsessed with the impeachment as Washington, d

86
00:04:39,600 --> 00:04:42,440
Speaker 1: C seems to be. Well, they're certainly not one of

87
00:04:42,480 --> 00:04:44,680
Speaker 1: these big one of these big moments are breaking through?

88
00:04:44,720 --> 00:04:47,800
Speaker 1: We do this? Are are not? Are not breaking through?

89
00:04:47,839 --> 00:04:50,479
Speaker 1: That's important? Go ahead and do this track called seen

90
00:04:50,560 --> 00:04:51,840
Speaker 1: right Herd where we look at a lot of news

91
00:04:51,880 --> 00:04:54,400
Speaker 1: events and see what people have heard about it, different

92
00:04:54,440 --> 00:04:57,080
Speaker 1: things and and things like the Bill Taylor testimony that

93
00:04:57,120 --> 00:04:59,520
Speaker 1: everybody in d C was obsessed over broke through to

94
00:04:59,560 --> 00:05:03,000
Speaker 1: about of voters nationwide. That's not a lot. Look, the

95
00:05:03,000 --> 00:05:05,920
Speaker 1: polls are on Democrats side in terms of whether they

96
00:05:06,000 --> 00:05:09,320
Speaker 1: like the impeachment inquiry itself. Um. The problem, and this

97
00:05:09,360 --> 00:05:11,479
Speaker 1: is what Ancy Polsy was facing, was half voters didn't

98
00:05:11,520 --> 00:05:14,360
Speaker 1: like how Democrats were handling it at this messaging. Republican

99
00:05:14,800 --> 00:05:18,560
Speaker 1: voters didn't like how Democrats were the same shares of

100
00:05:18,640 --> 00:05:21,440
Speaker 1: voters who support the impeachment inquiry opposed to how Democrats

101
00:05:21,480 --> 00:05:23,240
Speaker 1: were handling it, and so she had to do something.

102
00:05:23,279 --> 00:05:24,679
Speaker 1: I think in the eyes of a lot of voters.

103
00:05:24,839 --> 00:05:27,640
Speaker 1: So where does this go in terms of from here?

104
00:05:27,800 --> 00:05:29,719
Speaker 1: I mean, we're hearing that there's going to be Eli

105
00:05:29,839 --> 00:05:32,560
Speaker 1: Moore public hearings over the next couple of weeks, but

106
00:05:32,640 --> 00:05:35,920
Speaker 1: we don't have a timetable still with regards to articles

107
00:05:35,960 --> 00:05:38,560
Speaker 1: of impeachment. No, we don't. And the Nancy Possy said

108
00:05:38,560 --> 00:05:40,080
Speaker 1: today that they're going to be investigating this and it

109
00:05:40,120 --> 00:05:44,640
Speaker 1: might go into which would be some some maybe tough

110
00:05:44,680 --> 00:05:46,760
Speaker 1: news with some of these Democratic presidential kadas having this

111
00:05:46,800 --> 00:05:49,599
Speaker 1: from following them around as they kicked their campaigns in

112
00:05:49,600 --> 00:05:52,520
Speaker 1: the full gear. Pedro DaCosta, I want to get your

113
00:05:52,560 --> 00:05:55,440
Speaker 1: take on precisely where Eli just led us, which is

114
00:05:55,440 --> 00:06:00,200
Speaker 1: that if you're Senator Kamala Harris, Corey Booker, Elizabeth Warren

115
00:06:00,200 --> 00:06:03,520
Speaker 1: who will talk about coming up about her Medicare for

116
00:06:03,560 --> 00:06:06,160
Speaker 1: All plans, and some of these other senators who are

117
00:06:06,240 --> 00:06:10,200
Speaker 1: running for president Bernie Sanders Um two of them are

118
00:06:10,240 --> 00:06:14,880
Speaker 1: top to your candidates, does impeachment create a hurdle for

119
00:06:14,920 --> 00:06:17,320
Speaker 1: you when you want to be spending time on the

120
00:06:17,360 --> 00:06:21,599
Speaker 1: campaign trail in Iowa and New Hampshire. I think it

121
00:06:21,640 --> 00:06:24,920
Speaker 1: definitely creates, you know, yeah, I wouldn't call it a hurdle.

122
00:06:25,040 --> 00:06:28,279
Speaker 1: It creates, uh diversions as far as the news focus

123
00:06:28,360 --> 00:06:32,080
Speaker 1: and for people itinerary headache. Yeah, and for people who

124
00:06:32,080 --> 00:06:35,560
Speaker 1: are for Canada to Wars policy focuses as Bernie Sanders,

125
00:06:35,560 --> 00:06:38,520
Speaker 1: Elizabeth Warren and all the ones you cited. It creates

126
00:06:38,560 --> 00:06:40,960
Speaker 1: a diversion, but at the same time it it's not

127
00:06:41,040 --> 00:06:44,479
Speaker 1: a diversion that is misaligned with their message that the

128
00:06:44,560 --> 00:06:49,720
Speaker 1: current president is uh, you know, mishandling the economy and

129
00:06:49,800 --> 00:06:53,600
Speaker 1: the States. So I think it's you know, it diverts

130
00:06:53,640 --> 00:06:56,160
Speaker 1: the attention, but it's not necessarily bad for their momentum.

131
00:06:56,200 --> 00:06:58,159
Speaker 1: See this is by patriot. Acosta is just so on

132
00:06:58,240 --> 00:07:00,880
Speaker 1: point with this because he mentioned pop Lacy right and

133
00:07:00,880 --> 00:07:04,919
Speaker 1: and and Bernie Sanders, Elizabeth Woren presenting themselves to progressive

134
00:07:05,000 --> 00:07:08,760
Speaker 1: voters as policy wonks. And David Weston asked Speaker of

135
00:07:08,760 --> 00:07:12,040
Speaker 1: the House Nancy Pelosi about one of the biggest policies

136
00:07:12,400 --> 00:07:17,120
Speaker 1: that Wall Street, main Street, big banks, small banks, agriculture,

137
00:07:17,640 --> 00:07:20,800
Speaker 1: every sector cares about right now, when that's U s

138
00:07:20,920 --> 00:07:22,720
Speaker 1: m c A in the passage of U s m

139
00:07:22,800 --> 00:07:25,720
Speaker 1: c A and whether or not it's going to get done.

140
00:07:25,720 --> 00:07:28,520
Speaker 1: We've been reporting on this on this program as well

141
00:07:28,520 --> 00:07:33,920
Speaker 1: as elsewhere that virtually everyone saying they believe the impeachment

142
00:07:33,920 --> 00:07:38,680
Speaker 1: inquiry has actually spurred both sides to get to a

143
00:07:38,720 --> 00:07:40,320
Speaker 1: deal on U s m c A so that they

144
00:07:40,320 --> 00:07:43,120
Speaker 1: can say they were able to deliver a win, a

145
00:07:43,200 --> 00:07:46,760
Speaker 1: policy win to their respective particies in the midst of

146
00:07:46,800 --> 00:07:50,880
Speaker 1: this partisan UH impeachment process. Take a listen to what

147
00:07:50,920 --> 00:07:54,120
Speaker 1: Speaker of the House Nancy Pelosi said earlier today exclusively

148
00:07:54,160 --> 00:07:57,440
Speaker 1: to Bloomberg David Weston about U s m c A.

149
00:07:57,560 --> 00:08:00,560
Speaker 1: Here she is, we're working now on a missile Mexico

150
00:08:00,680 --> 00:08:05,400
Speaker 1: US Canada trade agreement, and I'm optimistic that we can

151
00:08:05,480 --> 00:08:08,680
Speaker 1: be successful with that. Well, we don't have the assurances

152
00:08:08,760 --> 00:08:11,720
Speaker 1: that we need on enforcement. I myself voted for an

153
00:08:11,720 --> 00:08:14,960
Speaker 1: after I had some disappointments, but one of the big

154
00:08:15,000 --> 00:08:18,360
Speaker 1: disappoinments is if you don't have enforcement, you are just

155
00:08:18,360 --> 00:08:21,760
Speaker 1: sending a conversation nice things that are listed, but you

156
00:08:21,880 --> 00:08:24,760
Speaker 1: don't have enforcement. And I think that we can come

157
00:08:25,040 --> 00:08:28,720
Speaker 1: to a place on this. I think the optics about

158
00:08:28,720 --> 00:08:31,920
Speaker 1: this shack are really important to note because I'm going

159
00:08:32,000 --> 00:08:34,760
Speaker 1: to read for you also what she told our Bloomberg

160
00:08:34,840 --> 00:08:38,080
Speaker 1: Editorial board which is quote, we are on a path too, yes,

161
00:08:38,480 --> 00:08:41,559
Speaker 1: and I think every day brings us closer to agreement.

162
00:08:41,920 --> 00:08:43,560
Speaker 1: I would like to have it done as soon as

163
00:08:43,600 --> 00:08:46,280
Speaker 1: it's ready. I wouldn't rule it out next year. Hopefully

164
00:08:46,320 --> 00:08:48,920
Speaker 1: we can do it sooner. But I said, when it's ready,

165
00:08:49,360 --> 00:08:51,920
Speaker 1: we will do it. So the optics of this Jack Kingston,

166
00:08:52,000 --> 00:08:57,800
Speaker 1: former Republican Congressman a Trumpgate are one day, literally one

167
00:08:57,880 --> 00:09:02,600
Speaker 1: day after the first impeachment vote on the House floor,

168
00:09:02,679 --> 00:09:06,760
Speaker 1: Speaker Pelosi goes to Bloomberg World headquarters and makes this

169
00:09:06,840 --> 00:09:09,000
Speaker 1: news about U S m c A. She clearly wants

170
00:09:09,000 --> 00:09:11,760
Speaker 1: to get to Yes, she wants to she wants to

171
00:09:11,760 --> 00:09:15,320
Speaker 1: be working on other things, but unfortunately she's held hostage

172
00:09:15,360 --> 00:09:17,640
Speaker 1: by the extremists in her party, which seems to be

173
00:09:17,679 --> 00:09:20,280
Speaker 1: the majority of her party right now. But um, when

174
00:09:20,320 --> 00:09:24,000
Speaker 1: you when when I was there during the Clinton administration, Um,

175
00:09:24,120 --> 00:09:30,280
Speaker 1: and we dealt with uh, um anything even uh including impeachment,

176
00:09:30,320 --> 00:09:33,920
Speaker 1: but other issues. New Gingrich, Henry Hide, Bill Archer, Dick

177
00:09:34,000 --> 00:09:37,320
Speaker 1: Army always insisted, look, you gotta pass your appropriation bills.

178
00:09:37,520 --> 00:09:41,320
Speaker 1: The Democrats under Pelosi haven't had one appropriation bill get

179
00:09:41,360 --> 00:09:45,160
Speaker 1: to the president yet you gotta do something about something

180
00:09:45,200 --> 00:09:49,000
Speaker 1: like drug pricing. Again, nothing's gone to the president yet.

181
00:09:49,280 --> 00:09:52,160
Speaker 1: You gotta work on these trade bills. These trade bills

182
00:09:52,160 --> 00:09:54,319
Speaker 1: were difficult. They could have moved U S M c

183
00:09:54,520 --> 00:09:56,840
Speaker 1: A last spring, but they haven't done it. She's not

184
00:09:56,880 --> 00:10:00,560
Speaker 1: taken any serious whip jacks on it. She's just trying

185
00:10:00,600 --> 00:10:04,319
Speaker 1: to assure Wall Street that everything's okay to impeach a

186
00:10:04,400 --> 00:10:07,200
Speaker 1: president under some phony excuse, and we're gonna get a

187
00:10:07,200 --> 00:10:09,240
Speaker 1: trade agreement. Why don't she? Why don't it? She just

188
00:10:09,320 --> 00:10:11,720
Speaker 1: moved the trade agreement and show that she can walk

189
00:10:11,800 --> 00:10:13,760
Speaker 1: and I peach at the same time. All right, coming up,

190
00:10:13,760 --> 00:10:16,600
Speaker 1: we're gonna talk more policy and politics with our panel.

191
00:10:16,640 --> 00:10:18,960
Speaker 1: I'm also going to tell you that the about the

192
00:10:19,000 --> 00:10:22,680
Speaker 1: company behind the song baby Shark. Way, do you hear

193
00:10:22,760 --> 00:10:27,480
Speaker 1: how much money they've made off Baby Shark? That's all

194
00:10:27,520 --> 00:10:29,959
Speaker 1: I'm gonna say. It's on the Bloomberg terminal. It's my

195
00:10:30,000 --> 00:10:32,600
Speaker 1: favorite story of the day. It's really what's been on

196
00:10:32,640 --> 00:10:36,160
Speaker 1: my radar panel stays. Download the Bloomberg Sound On podcast

197
00:10:36,200 --> 00:10:39,240
Speaker 1: on Apple iTunes, at Bloomberg dot com, or by downloading

198
00:10:39,240 --> 00:10:41,640
Speaker 1: the Bloomberg Business App. You can also find us on

199
00:10:41,760 --> 00:10:44,520
Speaker 1: Radio dot com, I Heart Radio and Spotify. I'm Kevin

200
00:10:44,559 --> 00:10:46,600
Speaker 1: s Really, I can't wait to tell you about this

201
00:10:46,640 --> 00:10:59,520
Speaker 1: baby shark story. You're listening to Bloomberg Baby Dinner Baby,

202
00:10:59,600 --> 00:11:03,640
Speaker 1: So I'm Kevin CURRELLI you're listening to Bloomberg Radio. Sound on.

203
00:11:03,840 --> 00:11:05,720
Speaker 1: The more that I can play that song, the better

204
00:11:05,840 --> 00:11:09,080
Speaker 1: it's It never gets all folks, and hey, World series champs.

205
00:11:09,480 --> 00:11:12,439
Speaker 1: I'm Kevin's really, chief Washington correspondent from Bloomberg TV and

206
00:11:12,480 --> 00:11:16,680
Speaker 1: Bloomberg Radio. I'm joined by Jack Kingston, former Georgia congressman,

207
00:11:16,679 --> 00:11:20,760
Speaker 1: who was doing the shark the shark along and you know,

208
00:11:20,800 --> 00:11:23,320
Speaker 1: I gotta do the baby shark or the mama shark

209
00:11:23,400 --> 00:11:26,079
Speaker 1: because the daddy shark looks like I'm a Florida gator

210
00:11:26,360 --> 00:11:29,320
Speaker 1: in the University of Georgia Territory. You don't pretend to

211
00:11:29,360 --> 00:11:31,560
Speaker 1: be a Florida alligator because they do that same thing.

212
00:11:31,920 --> 00:11:34,880
Speaker 1: But that is one of the craziest stories in the world.

213
00:11:35,400 --> 00:11:37,720
Speaker 1: And you're right. The song does not grow old. It

214
00:11:38,080 --> 00:11:40,640
Speaker 1: does catch on even if you're a crossing a guy

215
00:11:40,880 --> 00:11:44,000
Speaker 1: like Jack Kingston, former Georgia congressman. Here he's a Trump

216
00:11:44,000 --> 00:11:48,120
Speaker 1: twenty campaign. Eli Yoakley, political reporter for Mornan Console and

217
00:11:48,160 --> 00:11:51,040
Speaker 1: Pedro Diacosta, who was not moving along. He's the with

218
00:11:51,320 --> 00:11:55,080
Speaker 1: the Baby Shark. He works over at the Economic Policy Institute.

219
00:11:55,640 --> 00:11:59,400
Speaker 1: This story about I get enough at my house having

220
00:11:59,480 --> 00:12:00,760
Speaker 1: four and a half off year old and a one

221
00:12:00,840 --> 00:12:05,440
Speaker 1: year old. You're gonna doing the motion. You're gonna go

222
00:12:05,520 --> 00:12:07,040
Speaker 1: home and say you I was on this big time

223
00:12:07,160 --> 00:12:13,400
Speaker 1: radio show, but I did not. And she's gonna and

224
00:12:13,520 --> 00:12:16,160
Speaker 1: my daughter is gonna be okay, we'll get this. So

225
00:12:16,160 --> 00:12:19,120
Speaker 1: so this song, which I guess I came out a

226
00:12:19,120 --> 00:12:22,360
Speaker 1: couple of years ago. Kim Min Siak, he co founded

227
00:12:22,440 --> 00:12:26,160
Speaker 1: this company called Smart Study Company in two thousand and ten.

228
00:12:26,360 --> 00:12:32,079
Speaker 1: Five years later, it's children's educational brand. Pink Thong releases

229
00:12:32,120 --> 00:12:34,800
Speaker 1: that song baby Shark, which now, of course has become

230
00:12:34,840 --> 00:12:37,200
Speaker 1: an anthem of sorts for the for the World Series Champs.

231
00:12:37,720 --> 00:12:43,079
Speaker 1: So kim Min Siak's dad runs Samsung Publishing company that

232
00:12:43,120 --> 00:12:45,760
Speaker 1: owns part of the startup. They're worth a hundred and

233
00:12:45,800 --> 00:12:51,160
Speaker 1: twenty five million dolliver a million dollars, much of it

234
00:12:51,200 --> 00:12:53,360
Speaker 1: thanks to the song. And this is this is the

235
00:12:53,400 --> 00:12:59,280
Speaker 1: stat which I can't even fathom. Shares of Samsung Publishing

236
00:12:59,400 --> 00:13:05,240
Speaker 1: sword are you ready? Eighty nine percent the week. This week,

237
00:13:05,520 --> 00:13:08,840
Speaker 1: the World Series began, as local media reported on the

238
00:13:08,880 --> 00:13:14,480
Speaker 1: song surging popularity amongst US baseball fans. Uh and wow.

239
00:13:14,760 --> 00:13:16,480
Speaker 1: So it just goes to show you. I'm reading from

240
00:13:16,480 --> 00:13:19,000
Speaker 1: my colleague you Jung Lee's reporting on the Bloomberg terminal

241
00:13:19,280 --> 00:13:22,960
Speaker 1: shares one of eight for the company behind Baby Shark Pedro.

242
00:13:24,200 --> 00:13:26,640
Speaker 1: What do you think Elizabeth Warren thinks about that? I

243
00:13:26,640 --> 00:13:28,400
Speaker 1: don't know what Elizabeth Moorean thinks about I know my

244
00:13:28,480 --> 00:13:33,640
Speaker 1: one year old would be like jumping up and well.

245
00:13:33,679 --> 00:13:40,360
Speaker 1: Another another number, statistics for all the motions and the difference.

246
00:13:40,640 --> 00:13:42,760
Speaker 1: Like everything else, it's the second verse that gets you.

247
00:13:43,200 --> 00:13:45,720
Speaker 1: I have no idea what they're saying. Well, Jack Kickson, Okay.

248
00:13:46,120 --> 00:13:49,199
Speaker 1: Another I'm gonna ask my nephew and niece this weekend

249
00:13:49,200 --> 00:13:52,880
Speaker 1: if if they're fans of this song. Another another number

250
00:13:52,960 --> 00:13:56,080
Speaker 1: that caught our today. Jobstay, Big, Big Job Stay, and

251
00:13:56,320 --> 00:13:59,160
Speaker 1: a hundred and twenty eight thousand jobs were added to

252
00:13:59,200 --> 00:14:04,800
Speaker 1: the US economy in the month of October, smashing expectations.

253
00:14:04,840 --> 00:14:07,720
Speaker 1: I was at the Department of Labor earlier today, Padre Acosta,

254
00:14:07,800 --> 00:14:09,840
Speaker 1: and I'll be candid. I went in, I did all

255
00:14:09,840 --> 00:14:12,480
Speaker 1: the prep work. I was anticipating that it was gonna

256
00:14:12,520 --> 00:14:16,720
Speaker 1: show a weaker hiring and really the General Motors strike

257
00:14:17,240 --> 00:14:21,400
Speaker 1: impacting the forty six thousand workers who went on strike

258
00:14:21,480 --> 00:14:23,960
Speaker 1: for General motors workers, we were all anticipating that that

259
00:14:24,040 --> 00:14:27,120
Speaker 1: was going to slow down the October jobs numbers, but

260
00:14:27,200 --> 00:14:31,520
Speaker 1: candidly didn't have any effect. That's right, and I think

261
00:14:31,560 --> 00:14:35,400
Speaker 1: the VLS specifically mentioned this, and uh, not only was

262
00:14:35,440 --> 00:14:39,200
Speaker 1: the number about fifty thousand stronger than market expectations, which

263
00:14:39,240 --> 00:14:42,280
Speaker 1: were fairly low at eighty five tho uh, there were

264
00:14:42,600 --> 00:14:45,040
Speaker 1: upward revisions to the prior two months that added about

265
00:14:45,080 --> 00:14:48,440
Speaker 1: a hundred thousand jobs total. So you have a continued

266
00:14:48,800 --> 00:14:52,520
Speaker 1: decent UH growth in jobs, which is it's still a

267
00:14:52,600 --> 00:14:56,240
Speaker 1: slowdown from last year, but it's decent given how long

268
00:14:56,280 --> 00:14:58,920
Speaker 1: this recovery has been. This is the longest economic recovery

269
00:14:58,920 --> 00:15:01,520
Speaker 1: in history, it's and it's a in the year uh,

270
00:15:01,560 --> 00:15:04,120
Speaker 1: and so you know, it's good. I would say that

271
00:15:04,240 --> 00:15:06,240
Speaker 1: looking at wage growth, which is a number that I

272
00:15:06,320 --> 00:15:09,160
Speaker 1: pay most attention to and is the number that is

273
00:15:09,200 --> 00:15:12,200
Speaker 1: where you should look for seeing where whether the economy

274
00:15:12,280 --> 00:15:15,480
Speaker 1: is hot, that's still kind of treading water at about

275
00:15:15,520 --> 00:15:18,800
Speaker 1: three percent, and it's really not sufficient to make up

276
00:15:18,840 --> 00:15:21,280
Speaker 1: for the stagnation that we've had over the last let's

277
00:15:21,320 --> 00:15:24,280
Speaker 1: dive deeper into the numbers. The jobless rate edged up

278
00:15:24,320 --> 00:15:27,320
Speaker 1: to three point six percent from a half century low,

279
00:15:27,640 --> 00:15:31,400
Speaker 1: still still largely on part little to no change. African

280
00:15:31,400 --> 00:15:34,760
Speaker 1: American unemployment fell to a new record low of five

281
00:15:34,840 --> 00:15:39,480
Speaker 1: point four percent. Average hourly earnings climbed three percent from

282
00:15:39,480 --> 00:15:43,600
Speaker 1: a year earlier, matching projections. It's a solid jobs number.

283
00:15:43,800 --> 00:15:47,000
Speaker 1: I'm struck pedro that the that we talk about trade

284
00:15:47,040 --> 00:15:50,800
Speaker 1: and tariffs and the impact of trade policy consistently on

285
00:15:51,440 --> 00:15:54,720
Speaker 1: every day on the US China trade dealing and the like,

286
00:15:55,280 --> 00:15:59,960
Speaker 1: but we have we've seen some uncertainty, obviously market volatile

287
00:16:00,000 --> 00:16:02,800
Speaker 1: city as a result of such. But when it comes

288
00:16:02,800 --> 00:16:06,680
Speaker 1: to the jobs numbers, I mean, you can't you objectively

289
00:16:06,720 --> 00:16:09,360
Speaker 1: can look at this report and say that the tariffs

290
00:16:09,440 --> 00:16:13,040
Speaker 1: haven't had a disastrous impact on the monthly jobs numbers.

291
00:16:13,200 --> 00:16:14,920
Speaker 1: I think you're right. The one place that I would

292
00:16:14,960 --> 00:16:18,560
Speaker 1: point out that where that has been the case is manufacturing,

293
00:16:18,560 --> 00:16:21,080
Speaker 1: which I think saw the third month of contraction this month,

294
00:16:21,160 --> 00:16:26,000
Speaker 1: and so specifically manufacturing, which obviously is the core of trade. UH,

295
00:16:26,040 --> 00:16:28,800
Speaker 1: we are seeing a lot of weakness there, but it

296
00:16:28,880 --> 00:16:31,000
Speaker 1: has not spread to the rest of the economy, and

297
00:16:31,200 --> 00:16:34,960
Speaker 1: the U S economy is fairly strong despite the trade war,

298
00:16:35,000 --> 00:16:38,080
Speaker 1: and so I think you're right. I think that market

299
00:16:38,480 --> 00:16:43,320
Speaker 1: UH market concerns get expressed in ways that are overstated

300
00:16:43,360 --> 00:16:46,440
Speaker 1: compared to the day to day economic impact. That said,

301
00:16:46,840 --> 00:16:51,400
Speaker 1: there is a long term grinding impact of this uncertainty

302
00:16:51,480 --> 00:16:57,200
Speaker 1: and lack of UH stability on US economic potential, potential

303
00:16:57,200 --> 00:17:01,600
Speaker 1: and decision to make a business investments. Uh so Uh,

304
00:17:01,720 --> 00:17:05,960
Speaker 1: Carl Rickadonna are our very own Carl Ricadonna, Bloomberg's chief

305
00:17:06,160 --> 00:17:10,080
Speaker 1: chief economist, friend, your old friend when you're not friends anymore.

306
00:17:10,200 --> 00:17:16,440
Speaker 1: I haven't talked first that was that was Carl Ribott,

307
00:17:17,000 --> 00:17:20,960
Speaker 1: what Carl ricorbottle. Carl Rickadonna says that the labored data

308
00:17:21,240 --> 00:17:24,560
Speaker 1: continue to corroborate a moderation in the pace of economic

309
00:17:24,640 --> 00:17:26,840
Speaker 1: activity in the latter half of the year. But this

310
00:17:26,920 --> 00:17:29,119
Speaker 1: is the key part. The resilience in the pace of

311
00:17:29,200 --> 00:17:34,679
Speaker 1: hiring signals that growth is cooling, not collapsing. End quote.

312
00:17:34,960 --> 00:17:37,920
Speaker 1: President Trump just tweeted that it was a quote unquote blowout.

313
00:17:38,200 --> 00:17:41,080
Speaker 1: Much more with the panel coming up next, Policy and Politics.

314
00:17:41,080 --> 00:17:44,600
Speaker 1: Download Bloomberg sound on podcast on Apple iTunes. At Bloomberg

315
00:17:44,600 --> 00:17:47,320
Speaker 1: dot com or by downloading the Bloomberg Business app. You

316
00:17:47,320 --> 00:17:49,720
Speaker 1: can also find us on Radio dot com, I Heart

317
00:17:49,800 --> 00:17:53,520
Speaker 1: Radio and Spotify. I'm Kevin Cilli. Senator Elizabeth Warren releases

318
00:17:53,520 --> 00:18:00,280
Speaker 1: her Medicare for All plan. You're listening to Bloomberg. This

319
00:18:00,600 --> 00:18:05,840
Speaker 1: is Bloomberg Sound On with Kevin Shirl on Bloomberg and

320
00:18:05,880 --> 00:18:08,120
Speaker 1: one oh five point seven f M h D two

321
00:18:11,480 --> 00:18:16,200
Speaker 1: Born to Run. He is nuts better overorke is out?

322
00:18:16,440 --> 00:18:19,920
Speaker 1: According to the New York Times, the former Texas congressman

323
00:18:20,800 --> 00:18:28,240
Speaker 1: is now stepping down from the Democratic president presidential contenders primary.

324
00:18:28,400 --> 00:18:31,280
Speaker 1: Breaking news within the last couple of minutes in New

325
00:18:31,320 --> 00:18:33,440
Speaker 1: York Times reporting the better of Work is out of

326
00:18:33,480 --> 00:18:37,280
Speaker 1: the race. I'm Kevin Cirelli, Chief Washington correspondent from Bloomberg

327
00:18:37,320 --> 00:18:39,879
Speaker 1: Television of Bloomberg Radio. Remember, folks, he had that was

328
00:18:39,920 --> 00:18:45,399
Speaker 1: a Vanity Fair cover where Annie Leebowitz and Born to

329
00:18:45,560 --> 00:18:47,639
Speaker 1: Run was the headline. He had to walk back on

330
00:18:47,720 --> 00:18:51,200
Speaker 1: the view. It was the whole thing. Uh. Jack Kingston

331
00:18:51,280 --> 00:18:55,359
Speaker 1: tire former Georgia congressman Trump twenty campaign ser get Eli Yokley,

332
00:18:55,400 --> 00:18:58,119
Speaker 1: political reporter from Morning Consul to better even register on

333
00:18:58,160 --> 00:19:00,359
Speaker 1: the latest polls you know, he's think he's been going

334
00:19:00,400 --> 00:19:02,399
Speaker 1: down since he got in, but he picked up his

335
00:19:02,440 --> 00:19:04,280
Speaker 1: first day of his campaign. Never since then. It's just

336
00:19:04,359 --> 00:19:09,280
Speaker 1: dropped our latest pull on this. He was tired with Tulsi,

337
00:19:09,680 --> 00:19:13,400
Speaker 1: Amy Colbet char and Corey Booker. So okay, yeah, Patriot

338
00:19:13,400 --> 00:19:16,680
Speaker 1: acostas here, director of communications at the Economic Policy Institute,

339
00:19:16,920 --> 00:19:18,240
Speaker 1: as well. I didn't mean to laugh at that. It

340
00:19:18,280 --> 00:19:20,200
Speaker 1: was just the way you said it was was so,

341
00:19:20,840 --> 00:19:23,760
Speaker 1: but it is true. You know, if you start out

342
00:19:23,760 --> 00:19:26,880
Speaker 1: with a Vanity Fair endorsement, it's gonna go down. Now.

343
00:19:28,480 --> 00:19:30,399
Speaker 1: Were you ever on the cover of Vanity Fair, Jacks.

344
00:19:30,440 --> 00:19:36,720
Speaker 1: I don't think Vanity Fair ever, not qus like code

345
00:19:36,720 --> 00:19:40,000
Speaker 1: he might be. But if I borrow your coat, my

346
00:19:40,160 --> 00:19:43,520
Speaker 1: coat is really is really the talk of the commercial bread.

347
00:19:43,640 --> 00:19:45,800
Speaker 1: We want to invite everybody to watch you on TV

348
00:19:45,920 --> 00:19:47,600
Speaker 1: so they can see your good coat. But I need

349
00:19:47,640 --> 00:19:49,880
Speaker 1: to see your lumberjack coat. Right, this is the real meme,

350
00:19:49,960 --> 00:19:55,200
Speaker 1: you know, the campaign car hurt Jacks, it's the sandwich coat. Yeah.

351
00:19:55,400 --> 00:19:57,200
Speaker 1: I don't wear. I don't wear. I don't need subs.

352
00:19:57,200 --> 00:19:59,880
Speaker 1: I eat hoges um. Okay, let's get back to business.

353
00:20:00,359 --> 00:20:03,639
Speaker 1: Medicare for All. Elizabeth Warren has released her Medicare for

354
00:20:03,720 --> 00:20:07,639
Speaker 1: All plan. This is better work steps down from the race, Pedro,

355
00:20:07,800 --> 00:20:10,640
Speaker 1: I want you to to walk us through precisely what's

356
00:20:10,640 --> 00:20:12,520
Speaker 1: in the plan and how how she's going to be

357
00:20:12,920 --> 00:20:16,399
Speaker 1: attacked from both the left, from Bernie Sanders and also

358
00:20:16,480 --> 00:20:19,920
Speaker 1: from Biden. I don't know every detail of the plan

359
00:20:20,040 --> 00:20:21,879
Speaker 1: she's just released it, but I think, I mean, the

360
00:20:22,200 --> 00:20:24,960
Speaker 1: gist of it is that she can find the tax

361
00:20:25,000 --> 00:20:29,560
Speaker 1: revenues to raise funds to fund Medicare for All. I

362
00:20:29,600 --> 00:20:33,639
Speaker 1: think the figure that was floated for new funds is

363
00:20:33,680 --> 00:20:38,040
Speaker 1: about twenty trillion dollars. Uh. And I think she's emphasizing

364
00:20:38,080 --> 00:20:43,320
Speaker 1: the notion that healthcare costs are atrocious as they are,

365
00:20:43,440 --> 00:20:45,600
Speaker 1: and that they're going to go down for for millions

366
00:20:45,600 --> 00:20:49,680
Speaker 1: of Americans if if her planet is implemented. The criticisms

367
00:20:49,680 --> 00:20:54,520
Speaker 1: that she's going to get from the sort of center

368
00:20:54,560 --> 00:20:58,920
Speaker 1: and the right is that it's too costly and it's cumbersome. Uh.

369
00:20:58,960 --> 00:21:03,879
Speaker 1: There's also the the very real concern about transitions. I

370
00:21:03,920 --> 00:21:07,680
Speaker 1: think they're they're people who are a political I think

371
00:21:07,720 --> 00:21:12,000
Speaker 1: of a friend and acquaintance of mind, Peter Morley, patient advocate,

372
00:21:12,040 --> 00:21:16,200
Speaker 1: who you know, while he is all for universal healthcare.

373
00:21:16,280 --> 00:21:19,160
Speaker 1: He worries as a patient what a transition might look

374
00:21:19,160 --> 00:21:22,760
Speaker 1: like and whether people might lose care. And I think, uh,

375
00:21:22,920 --> 00:21:24,639
Speaker 1: I'm not sure what the critique will be from the

376
00:21:24,680 --> 00:21:27,960
Speaker 1: Bernie Sanders side. To be honest, they've been saying quietly

377
00:21:28,080 --> 00:21:30,480
Speaker 1: for weeks behind the scenes that he is the o

378
00:21:30,680 --> 00:21:33,800
Speaker 1: G for Medicare for All, that he was there first,

379
00:21:33,880 --> 00:21:36,199
Speaker 1: that he is the one who really was the driving

380
00:21:36,240 --> 00:21:40,640
Speaker 1: force to really making this become a national discussion. This

381
00:21:40,680 --> 00:21:44,359
Speaker 1: is as the Bloomberg terminal, uh define reports on a

382
00:21:44,440 --> 00:21:48,080
Speaker 1: defining moment that fleshes out her vision to remake one

383
00:21:48,600 --> 00:21:53,439
Speaker 1: five of the United States economy. I'm struck by this.

384
00:21:54,280 --> 00:21:57,840
Speaker 1: Her plan on estimates that Medicare for All that the

385
00:21:57,880 --> 00:22:00,399
Speaker 1: price tag for it would be twenty point five billion

386
00:22:00,520 --> 00:22:04,000
Speaker 1: dollars over ten years, but the Urban Institute, which is

387
00:22:04,000 --> 00:22:07,960
Speaker 1: pretty progressive, UM estimates that it would be thirty four

388
00:22:08,040 --> 00:22:11,119
Speaker 1: trillion dollars. So she's sliced some of the some of

389
00:22:11,160 --> 00:22:14,479
Speaker 1: the cost just a couple of trillion um. Jack Kingston,

390
00:22:15,200 --> 00:22:18,000
Speaker 1: obviously you disagree with Medicare for All, and candidly, Speaker

391
00:22:18,000 --> 00:22:20,960
Speaker 1: of the House Nancy Pelosi told our very own Bloomberg

392
00:22:21,040 --> 00:22:23,000
Speaker 1: David Weston today that she's not really a fan of

393
00:22:23,000 --> 00:22:25,720
Speaker 1: Medicare for All. But I don't want to have a

394
00:22:25,800 --> 00:22:27,760
Speaker 1: part of I don't want to have the back and

395
00:22:27,840 --> 00:22:31,720
Speaker 1: forth fight. I want to talk procedure here. In order

396
00:22:31,760 --> 00:22:36,720
Speaker 1: for Medicare for All to ever go into effect, Democrats

397
00:22:36,760 --> 00:22:39,440
Speaker 1: would need a super majority. They would have to win

398
00:22:40,560 --> 00:22:44,280
Speaker 1: clear majorities in the House, a super majority in the Senate,

399
00:22:44,720 --> 00:22:46,800
Speaker 1: and they would have to take back the White House.

400
00:22:46,840 --> 00:22:51,399
Speaker 1: So this is a really difficult It feels difficult to

401
00:22:51,440 --> 00:22:55,320
Speaker 1: see how this comes about, and as little more than

402
00:22:55,440 --> 00:22:59,160
Speaker 1: than a campaign policy, I don't see how it's possible

403
00:22:59,200 --> 00:23:03,000
Speaker 1: to get it through the US Congress, Senate, and House.

404
00:23:03,160 --> 00:23:07,119
Speaker 1: But remember Obama when he was president, did have that

405
00:23:07,240 --> 00:23:09,720
Speaker 1: brief moment when he had just the right numbers and

406
00:23:10,040 --> 00:23:12,720
Speaker 1: could pass Obamacare, which would not have happened if he

407
00:23:12,760 --> 00:23:15,280
Speaker 1: did not have a super majority in the Senate. But

408
00:23:15,480 --> 00:23:18,000
Speaker 1: I think, as American people say, wait a minute, this

409
00:23:18,080 --> 00:23:21,280
Speaker 1: means I give up my personal health care and I

410
00:23:21,400 --> 00:23:24,800
Speaker 1: turned my health care over to an agency that's gonna

411
00:23:24,880 --> 00:23:26,880
Speaker 1: run it like the V A are, the E P

412
00:23:26,960 --> 00:23:29,159
Speaker 1: A are, the I R S. I mean, tell me

413
00:23:29,359 --> 00:23:33,520
Speaker 1: one government agency that's efficient and effective more than a

414
00:23:33,600 --> 00:23:37,359
Speaker 1: local doctor and um, you know, insurance companies. As much

415
00:23:37,400 --> 00:23:39,840
Speaker 1: as you curse them, I still don't want to turn

416
00:23:39,880 --> 00:23:46,080
Speaker 1: it over to government bureaucracies that are insensitive to consumer complaints. Uh.

417
00:23:46,119 --> 00:23:49,560
Speaker 1: There's been criticism from some of her moderate rivals Eli Yoakley,

418
00:23:49,640 --> 00:23:54,439
Speaker 1: including Biden Mayor Pete Bodha, Pete Buddha Judge. What are

419
00:23:54,480 --> 00:23:58,280
Speaker 1: the polls suggests first and foremost about where Democrats are

420
00:23:58,280 --> 00:24:00,600
Speaker 1: on the issue of Medicare for all, but then also

421
00:24:00,760 --> 00:24:03,920
Speaker 1: where independent swing voters are on this as well. People

422
00:24:03,920 --> 00:24:05,639
Speaker 1: are generally for it until you tell them their taxes

423
00:24:05,680 --> 00:24:08,440
Speaker 1: go up, and then they don't the truth. I mean,

424
00:24:08,560 --> 00:24:10,320
Speaker 1: we did some point a couple of weeks ago, asking

425
00:24:10,359 --> 00:24:13,360
Speaker 1: if they believe this idea that your healthcare costs will

426
00:24:13,359 --> 00:24:15,280
Speaker 1: go down or your taxes will go up the same

427
00:24:15,320 --> 00:24:17,199
Speaker 1: as your healthcare costs go down there even out at

428
00:24:17,200 --> 00:24:19,080
Speaker 1: the end, and most people just don't buy it. And

429
00:24:19,080 --> 00:24:21,399
Speaker 1: that's a tough position Democrats are as I sell this

430
00:24:21,440 --> 00:24:23,200
Speaker 1: policy across the country right now. And that's what it

431
00:24:23,320 --> 00:24:25,120
Speaker 1: was with Warren leaned into today. I mean, she said

432
00:24:25,200 --> 00:24:29,240
Speaker 1: very clearly that middle class taxes won't go up. Um,

433
00:24:29,400 --> 00:24:31,640
Speaker 1: she didn't. I don't think she said that very clearly

434
00:24:31,800 --> 00:24:34,280
Speaker 1: that wasn't her plan. The challenge for her is she's

435
00:24:34,280 --> 00:24:36,480
Speaker 1: one of the least trusted candidate and her plan. She

436
00:24:36,520 --> 00:24:38,359
Speaker 1: writes that this is this is new to me, and

437
00:24:38,440 --> 00:24:42,439
Speaker 1: her plan. She's specifically she's dodged this question. She's dodged

438
00:24:42,480 --> 00:24:45,840
Speaker 1: this question repeatedly during the debates. So now she's she's

439
00:24:45,960 --> 00:24:47,959
Speaker 1: That's the whole point of her coming out today. I mean,

440
00:24:48,000 --> 00:24:51,080
Speaker 1: the debate pressure was kind of building for her, and

441
00:24:51,119 --> 00:24:52,359
Speaker 1: one of the things we saw was she's one of

442
00:24:52,400 --> 00:24:55,639
Speaker 1: the least trusted candidates among the top contenders on the

443
00:24:55,640 --> 00:24:58,560
Speaker 1: issue of healthcare costs. Voters are less likely to believe

444
00:24:58,600 --> 00:25:01,440
Speaker 1: her about um these ends that some of the other candidates.

445
00:25:02,119 --> 00:25:07,119
Speaker 1: Sanders has said the the plan would require higher middle

446
00:25:07,560 --> 00:25:10,399
Speaker 1: middle class taxes as well. I mean, all of this

447
00:25:10,560 --> 00:25:13,520
Speaker 1: just really, I think is going to to shape up

448
00:25:13,560 --> 00:25:18,359
Speaker 1: to a fascinating debate in Atlanta. You're not in the woods, Jack,

449
00:25:18,440 --> 00:25:20,680
Speaker 1: the next Democratic presidential debate, when they're all the same

450
00:25:20,720 --> 00:25:23,119
Speaker 1: state and we are looking forward to having them. I

451
00:25:23,240 --> 00:25:24,919
Speaker 1: just want you to know it's good for them to

452
00:25:24,960 --> 00:25:28,520
Speaker 1: do the geographic spread. So I welcome, welcomed them to

453
00:25:28,600 --> 00:25:30,760
Speaker 1: the state of Georgia. But I think the other problem

454
00:25:30,800 --> 00:25:34,160
Speaker 1: that Warren's going to have that is a simple communication messages.

455
00:25:34,720 --> 00:25:38,440
Speaker 1: Not even Nancy Pelosi is supportive of this, and how

456
00:25:38,480 --> 00:25:40,560
Speaker 1: do you explain that? And if we look at how

457
00:25:40,800 --> 00:25:44,760
Speaker 1: klobs are attacked Elizabeth Warren incessantly in the last debate,

458
00:25:45,280 --> 00:25:47,240
Speaker 1: I think she's going to get that kind of inbound

459
00:25:47,280 --> 00:25:51,159
Speaker 1: criticism and question from everybody except her from burning. I

460
00:25:51,200 --> 00:25:53,119
Speaker 1: don't know how she handles it into debate, but I

461
00:25:53,119 --> 00:25:57,520
Speaker 1: would think of it as, Uh, you know, Trump likes

462
00:25:57,520 --> 00:26:00,040
Speaker 1: to sell himself as a master negotiator, but you know

463
00:26:00,080 --> 00:26:03,080
Speaker 1: who's gore great negotiators, senators because they know how to

464
00:26:03,080 --> 00:26:06,520
Speaker 1: negotiate legislation. And I think Elizabeth Warren and Bernie Sanders

465
00:26:06,520 --> 00:26:11,600
Speaker 1: know that any campaign proposal is the most is big

466
00:26:11,640 --> 00:26:15,240
Speaker 1: picture opening salvo in a proposal, and they're gonna get

467
00:26:15,400 --> 00:26:18,040
Speaker 1: They're gonna end up somewhere else. And so that's how

468
00:26:18,040 --> 00:26:21,840
Speaker 1: I'm looking. There's reaction from the Biden campaign. Cape Beddingfield, Uh,

469
00:26:22,200 --> 00:26:25,280
Speaker 1: Biden campaign spokeswoman said in a statement quote. For months,

470
00:26:25,280 --> 00:26:28,040
Speaker 1: Elizabeth Warren has refused to say if her healthcare plan

471
00:26:28,080 --> 00:26:30,480
Speaker 1: would raise taxes on the middle class, and now we

472
00:26:30,560 --> 00:26:34,399
Speaker 1: know why because it does. Senator Warren would place a tax,

473
00:26:34,760 --> 00:26:38,760
Speaker 1: a new tax of nearly nine trillion dollars that will

474
00:26:38,800 --> 00:26:42,000
Speaker 1: fall on American workers. So they're the battlegrounds. Coming up next.

475
00:26:42,040 --> 00:26:45,800
Speaker 1: What's on the panels radar on Kevin Cirelli, Chief Washington

476
00:26:45,840 --> 00:26:48,640
Speaker 1: Corps monitor for Bloomberg Television and Bloomberg Radio. And you're

477
00:26:48,640 --> 00:26:58,359
Speaker 1: listening to Bloomberg. This is Bloomberg Sound On with Kevin

478
00:26:58,359 --> 00:27:02,920
Speaker 1: Shirley on Bloomberg and one oh five seven m h

479
00:27:03,080 --> 00:27:05,919
Speaker 1: D two. Hell yes, we're gonna take your A R fifteen,

480
00:27:06,000 --> 00:27:13,680
Speaker 1: your A K forty seven. You're not allow That was better.

481
00:27:13,720 --> 00:27:17,960
Speaker 1: A Rourke from the Houston debate at Texas Southern University

482
00:27:18,040 --> 00:27:20,120
Speaker 1: the other month. He's out of the race. New York

483
00:27:20,119 --> 00:27:25,119
Speaker 1: Times reporting Beto O'Rourke has stepped out of the presidential

484
00:27:25,680 --> 00:27:29,359
Speaker 1: Democratic primary race. And there's also reports that Kamala Harris

485
00:27:29,440 --> 00:27:32,840
Speaker 1: is slashing offices in New Hampshire. She's, I guess trying

486
00:27:32,840 --> 00:27:36,560
Speaker 1: to go all in in Iowa. Another story that we've

487
00:27:36,560 --> 00:27:40,200
Speaker 1: been carefully monitoring here at Bloomberg is Saudi Crown Prince

488
00:27:40,520 --> 00:27:43,399
Speaker 1: MBS has given the green light for the Saudi A

489
00:27:43,480 --> 00:27:45,439
Speaker 1: Ramco I p O I'll just read the lead on

490
00:27:45,480 --> 00:27:49,040
Speaker 1: this story from my colleagues at the Bloomberg terminal. Saudi

491
00:27:49,119 --> 00:27:52,080
Speaker 1: Crown Prince Mohammed bin Salmon finally gave the go ahead

492
00:27:52,080 --> 00:27:55,800
Speaker 1: for the initial public offering of state oil producer a Ramco,

493
00:27:55,920 --> 00:27:58,840
Speaker 1: deciding there's enough support from local investors for what could

494
00:27:58,880 --> 00:28:03,879
Speaker 1: be a record share share sale and not Bloomberg cites

495
00:28:03,960 --> 00:28:08,280
Speaker 1: people familiar with with the situation. Um, it's now time

496
00:28:08,280 --> 00:28:10,000
Speaker 1: for what's on the panel's radar, and we've got an

497
00:28:10,040 --> 00:28:13,240
Speaker 1: all star panel. We've got Padre Acosta, who works over

498
00:28:13,280 --> 00:28:17,040
Speaker 1: at the Economic Policy Institute, Eli Yokley, political reporter for

499
00:28:17,080 --> 00:28:19,879
Speaker 1: the Morning consult and Jack Kinson, a former Republican Georgia

500
00:28:19,920 --> 00:28:22,840
Speaker 1: congressman and Trump twenty campaign circuit who asked me in

501
00:28:22,880 --> 00:28:24,720
Speaker 1: the break if I went to Harvard. No, I didn't

502
00:28:24,720 --> 00:28:27,199
Speaker 1: go to Harvard. I went to Penn State University. I'm

503
00:28:27,280 --> 00:28:28,919
Speaker 1: kind of offended that you thought I went to Harvard.

504
00:28:29,520 --> 00:28:34,040
Speaker 1: You kind of look like elatest to me. I think

505
00:28:34,040 --> 00:28:38,680
Speaker 1: it's just trying too hard to be I am so

506
00:28:39,080 --> 00:28:41,760
Speaker 1: deeply offended that you just that I just got called

507
00:28:41,920 --> 00:28:45,040
Speaker 1: for being an elitist. Well, can you say that you're

508
00:28:45,080 --> 00:28:48,880
Speaker 1: kidding because because because body language doesn't show on air.

509
00:28:49,160 --> 00:28:52,240
Speaker 1: I am kidding. Except for that couch yesterday that you

510
00:28:52,240 --> 00:28:55,120
Speaker 1: wore the White House, it looks very debonair, And so

511
00:28:55,720 --> 00:28:58,760
Speaker 1: thank you. I hope my boss is listening. Okay, Jack,

512
00:28:58,880 --> 00:29:01,440
Speaker 1: You're gonna go first. Is on your radar? Okay? Number one,

513
00:29:01,440 --> 00:29:03,960
Speaker 1: there is a growing scandal. Just I have to interrupt.

514
00:29:04,120 --> 00:29:06,760
Speaker 1: Christine Rodd, our executive producer, just put in our group

515
00:29:06,880 --> 00:29:11,440
Speaker 1: chat that she's now going to refer to me as debonair. keV. Thanks, Okay, Okay.

516
00:29:11,480 --> 00:29:15,120
Speaker 1: There's a growing scandal in business schools that's going unaddressed

517
00:29:15,160 --> 00:29:19,440
Speaker 1: by UM businesses throughout America. And the question is why

518
00:29:19,600 --> 00:29:22,480
Speaker 1: is it that on every single conference call in which

519
00:29:22,520 --> 00:29:25,600
Speaker 1: we have to attend, the one person who doesn't understand

520
00:29:25,640 --> 00:29:28,600
Speaker 1: how to push the mute button seems to be at

521
00:29:28,640 --> 00:29:32,120
Speaker 1: a hockey game, a basketball game, a rock concert, are

522
00:29:32,160 --> 00:29:37,600
Speaker 1: in an Airportiani talking to a report. Whether it's the

523
00:29:37,640 --> 00:29:40,000
Speaker 1: business school going to teach the graduates to use the

524
00:29:40,080 --> 00:29:44,440
Speaker 1: moot button? All right, Amen, that's your issue, and I

525
00:29:44,480 --> 00:29:47,440
Speaker 1: agree listen, But sometimes for US reporters that actually works

526
00:29:47,440 --> 00:29:50,400
Speaker 1: out well. Eli, Yokley, what's on your radar? Like that

527
00:29:50,560 --> 00:29:56,320
Speaker 1: free big governor's racist coming up Louisiana, Kentucky and Mississippi.

528
00:29:56,360 --> 00:29:58,960
Speaker 1: Kentucky is a big deal. Democrats are really pushing to

529
00:29:59,000 --> 00:30:00,800
Speaker 1: win that one. It's gonna be Matt Bevan is the

530
00:30:00,880 --> 00:30:03,960
Speaker 1: least popular governor in the country. Um, and we're also

531
00:30:04,000 --> 00:30:07,480
Speaker 1: watching this Louisiana raised Donald Trump sitting there. Interesting? Interesting?

532
00:30:07,600 --> 00:30:11,240
Speaker 1: And what is on your radar? Pedrot Acosta? So what's

533
00:30:11,240 --> 00:30:13,760
Speaker 1: on my radar is so far? Sorry, Eli, but so

534
00:30:13,840 --> 00:30:17,040
Speaker 1: far Jack's beating for it's not coming ahead. That's like

535
00:30:17,080 --> 00:30:20,720
Speaker 1: more of an existential problems. Use the mute button on

536
00:30:20,760 --> 00:30:23,800
Speaker 1: a conference, guy. Yeah, just don't have conference calls, period.

537
00:30:23,800 --> 00:30:26,360
Speaker 1: Don't have meetings. Don't have conference calls. That's how I feel. Sorry.

538
00:30:26,400 --> 00:30:28,680
Speaker 1: I'm not a big meeting kind of guy. Anyway, enough

539
00:30:28,680 --> 00:30:32,640
Speaker 1: about I didn't go to hard I went to I'm

540
00:30:32,680 --> 00:30:34,800
Speaker 1: gonna get in trouble because I'm off topic and off focus.

541
00:30:34,800 --> 00:30:40,000
Speaker 1: Go ahead, Pedro. So I'm watching German politics actually just

542
00:30:40,080 --> 00:30:42,600
Speaker 1: to make it really exciting. And the reason I'm watching

543
00:30:42,640 --> 00:30:45,560
Speaker 1: German politics is that there's a debate in Germany. Germany

544
00:30:45,680 --> 00:30:48,000
Speaker 1: is basically close to recession and back to her the

545
00:30:48,600 --> 00:30:51,280
Speaker 1: economic debate. Earlier, we didn't talk about the I S

546
00:30:51,440 --> 00:30:55,240
Speaker 1: Manufacturing Index, which contracted for the third straight month. And

547
00:30:55,320 --> 00:30:58,120
Speaker 1: so the worry is that we're going to see the

548
00:30:58,120 --> 00:31:00,640
Speaker 1: trade ward turn into something like the global recession in

549
00:31:00,680 --> 00:31:02,640
Speaker 1: the place that we might see it and maybe already

550
00:31:02,640 --> 00:31:05,040
Speaker 1: seeing it as Germany. Now there's a political debate within

551
00:31:05,120 --> 00:31:06,680
Speaker 1: Germany as to whether or not they should do a

552
00:31:06,680 --> 00:31:09,680
Speaker 1: fiscal stimulus, and that's what I'm paying attention. And beyond that,

553
00:31:09,800 --> 00:31:14,440
Speaker 1: the president's decisions with regards to uh, the auto the

554
00:31:14,520 --> 00:31:18,040
Speaker 1: auto industry this week, how has that impacted what's what's

555
00:31:18,040 --> 00:31:22,120
Speaker 1: going on in Germany? I think just generally, the fact

556
00:31:22,200 --> 00:31:25,520
Speaker 1: that autos have been at the center of U of

557
00:31:25,880 --> 00:31:28,760
Speaker 1: the trade debacle and the fact that the auto sector

558
00:31:28,800 --> 00:31:31,400
Speaker 1: is so crucial to Germany has just made Germany vulnerable

559
00:31:31,440 --> 00:31:35,479
Speaker 1: and of course as the powerhouse within Europe. Uh, you know,

560
00:31:35,600 --> 00:31:39,880
Speaker 1: if a German, a German recession could actually drag the

561
00:31:40,000 --> 00:31:42,680
Speaker 1: entire years on into into a downturn. And some and

562
00:31:42,800 --> 00:31:47,080
Speaker 1: some folks by the way, have suggested that the excuse me,

563
00:31:47,120 --> 00:31:49,760
Speaker 1: the U S m c A, which would really go

564
00:31:49,840 --> 00:31:52,320
Speaker 1: into how many parts and what portion of the parts

565
00:31:52,360 --> 00:31:55,960
Speaker 1: in the auto sector are made in the United States. Obviously,

566
00:31:56,000 --> 00:31:59,680
Speaker 1: I'm giving a very very top line New Year that

567
00:31:59,680 --> 00:32:03,720
Speaker 1: thou actually benefit the US, Mexico and Canada against German competition.

568
00:32:03,880 --> 00:32:05,800
Speaker 1: That's correct the rules of I mean, if if they're

569
00:32:05,800 --> 00:32:09,680
Speaker 1: a deal, a deal would definitely benefit those three countries

570
00:32:09,720 --> 00:32:12,520
Speaker 1: at the expense of draw so one notes on my radar,

571
00:32:13,040 --> 00:32:16,560
Speaker 1: Ela Musk. Ela Musk has said that he is going offline,

572
00:32:17,240 --> 00:32:19,560
Speaker 1: that he's going to be taking a social media break.

573
00:32:19,560 --> 00:32:22,880
Speaker 1: Remember he got thank you God, he got a little

574
00:32:22,880 --> 00:32:26,760
Speaker 1: bit of trouble with the FEDS for some of his tweets.

575
00:32:26,800 --> 00:32:30,480
Speaker 1: Reason after my former colleague Lenette Lopez, a business insider,

576
00:32:30,600 --> 00:32:34,160
Speaker 1: like on a personal tirade, like he's yeah, all right,

577
00:32:34,360 --> 00:32:38,240
Speaker 1: well he uh okay, Well no, I'm not stepping in

578
00:32:38,280 --> 00:32:40,880
Speaker 1: the middle of anything. Twitter has fallen out of Elon

579
00:32:40,960 --> 00:32:44,080
Speaker 1: Musk's favor as the testlas CEO val to quote go

580
00:32:44,240 --> 00:32:48,440
Speaker 1: offline on Friday. It's unclear, however, when he would do so,

581
00:32:48,760 --> 00:32:51,840
Speaker 1: as the executive has teased the move before. I've been

582
00:32:51,880 --> 00:32:54,680
Speaker 1: taken to social media breaking. Hey listen, I think if

583
00:32:54,720 --> 00:32:58,120
Speaker 1: you need to get offline for a little bit, it's good. Eli.

584
00:32:58,160 --> 00:33:01,280
Speaker 1: You're you're going, You're just like the tweet of mine. Yeah,

585
00:33:01,280 --> 00:33:03,760
Speaker 1: but I'm not I'm not posting. I mean, you know

586
00:33:03,800 --> 00:33:06,280
Speaker 1: you're there, but you're not there, you know what I mean.

587
00:33:06,400 --> 00:33:09,280
Speaker 1: I think the funny thing is how how self important

588
00:33:09,280 --> 00:33:12,400
Speaker 1: we all like. We think we've disappeared nobody and nobody cares.

589
00:33:12,520 --> 00:33:16,040
Speaker 1: Nobody knows what people care about Elon Musk, people care

590
00:33:16,080 --> 00:33:19,760
Speaker 1: about you want. I wish you would start another Twitter.

591
00:33:23,440 --> 00:33:26,800
Speaker 1: Facebook needs competition. Twitter needs competition. I think that's what

592
00:33:27,000 --> 00:33:30,040
Speaker 1: has energy. Last word to Jack Cameston, We're gonna have

593
00:33:30,120 --> 00:33:33,040
Speaker 1: to leave it there. Congrats. Uh so the Nats again.

594
00:33:33,160 --> 00:33:36,480
Speaker 1: Have fun. Everybody be safe at the parade, Jack Eli,

595
00:33:36,640 --> 00:33:39,000
Speaker 1: I will I always enjoy Philly. That's it for me.

596
00:33:39,080 --> 00:33:41,600
Speaker 1: Patri thank you as well. I'm Kevin Silli. You're listening

597
00:33:41,600 --> 00:33:45,360
Speaker 1: to Bloomberg nine and nine one