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Speaker 1: Live from our Nation's how do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at Tobby kenneddates for different vaccines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with kevin'sur

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Speaker 1: Relate on Bloomberg and one oh fiem HD two. The

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Speaker 1: Center for Disease Control tells states to get ready for

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Speaker 1: a November first vaccination distribution. Plus the latest on the race.

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Speaker 1: How will the politics, the economics of the pandemic and

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Speaker 1: the vaccinations I'm talking about it impact the twenty twenty race.

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Speaker 1: All that and the latest on Kenosha. Plus we check

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Speaker 1: in on the markets. Lots to get through the sm

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Speaker 1: be five. Next, jumping to the biggest game in two months.

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Speaker 1: I do want to bring in. I want to talk

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Speaker 1: about Wisconsin because this story has really upended political dynamics

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Speaker 1: of this race. The polls in the battleground states are intensifying.

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Speaker 1: There's a new mom At University poll that came out

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Speaker 1: today that has Joe Biden, the Democratic presidential nominee, leading

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Speaker 1: by ten percentage points. But folks, I say it, I

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Speaker 1: feel like a broken record. You gotta look at the

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Speaker 1: swing state polls. You gotta look at the swing state polls,

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Speaker 1: because it's really there. It's a single digits uh difference

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Speaker 1: in states like Wisconsin, Michigan, Pennsylvania. Get this. The Biden

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Speaker 1: campaign announced that Joe Biden's going to Shanksville, PA on

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Speaker 1: September eleven to commemorate it southwestern portion. I guess technically

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Speaker 1: just outside of the southwestern portion of the state. And uh,

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Speaker 1: you know it's the second time he's going to be

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Speaker 1: headed to that region. You know, he's been headquartered his

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Speaker 1: campaigns headquartered in Philly. It's kind of interesting that he's

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Speaker 1: starting a campaign and he's he's really focusing on Pennsylvania.

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Speaker 1: Peggy James joins us. I'm thrilled to have Peggy on

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Speaker 1: the line. She is a professor of political science at

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Speaker 1: the University of Wisconsin Park Side. She's literally based in Kenosha, Wisconsin.

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Speaker 1: I said to our producer said, We've got to find

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Speaker 1: somewhere from Kenosha, and Professor James, I'm thrilled, thrilled to

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Speaker 1: welcome you to the program. I got to ask you

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Speaker 1: what has it been like in your community and as

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Speaker 1: an academic. Well, first of all, thank you for having me.

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Speaker 1: I appreciate the opportunity to talk to UM. It's UH.

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Speaker 1: I suppose in some ways I could describe it as

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Speaker 1: just a sense of being stunned because Kenosha, as probably

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Speaker 1: many people know, Kenosha is a small community, and it's

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Speaker 1: now often in the news, certainly not in the national news.

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Speaker 1: And so to have this, uh, this sort of thing

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Speaker 1: occur at all in our community has uh has put

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Speaker 1: people on their on their heels. And academically, of course,

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Speaker 1: it has been UH sort of a channel lunch because

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Speaker 1: our our campus is located right in Kenosha County, and

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Speaker 1: it has impacted obviously our students, are our courses, and

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Speaker 1: even some of our professors have been impacted by this.

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Speaker 1: You know. It's it's really remarkable just to see just

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Speaker 1: how upended it has become. And we've just gotten word

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Speaker 1: that tomorrow, UH Democratic presidential nominee Joe Biden is going

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Speaker 1: to be visiting Kenosha. The President was there earlier this week.

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Speaker 1: I'm not going to ask you, professor, to weigh in

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Speaker 1: in terms of the politics, but I do want you

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Speaker 1: to cut to the chase and help me with the

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Speaker 1: policy and help me with the analytical side of this.

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Speaker 1: That the two presidential candidates in the same week, just

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Speaker 1: seventy two hours apart from one another, are are going

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Speaker 1: to this battle ground county. Well, I think what we're

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Speaker 1: finding is is that this event, I mean, obviously is

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Speaker 1: important in and of itself, but it's important I think

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Speaker 1: because of the fact that it's occurred in the place

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Speaker 1: where no one expected it too. And so this becomes

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Speaker 1: a real wake up call in terms of what exactly

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Speaker 1: is the is the social, political economic situation that we're facing, uh,

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Speaker 1: in terms of Kenosha and Wisconsin and the country. And Wisconsin,

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Speaker 1: as you say, is a battleground state. Up until last election,

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Speaker 1: it was primarily a state that voted for the Democratic

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Speaker 1: candidate for president. But last last time in sixteen, there

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Speaker 1: was a narrow victory for Trump. As you know, a

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Speaker 1: narrow victory in the in the electoral college means all

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Speaker 1: the votes and Wisconsin has approximately I believe nineties six

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Speaker 1: electoral votes, which makes it a pretty important state to

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Speaker 1: make sure that that at least in this case, the

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Speaker 1: candidates pay some attention to It's remarkable. And you know,

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Speaker 1: I was crunching the numbers on the Wisconsin Uh. I

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Speaker 1: always I always feel like I bring out my fake

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Speaker 1: Wisconsin accent Kenosha. I can't help it, Professor James, I,

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Speaker 1: I can't help it. But but and my pal, my

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Speaker 1: colleague Lisa Brando with y anchors Bloomberg Surveillance. You know,

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Speaker 1: she's from Wisconsin, and we were we were joking about

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Speaker 1: about how I how I sometimes get that that fake accent.

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Speaker 1: But but you mentioned something really precise and and and

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Speaker 1: it's brilliant point because in Kenosha County, when you look

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Speaker 1: at the election results in two thousand and sixteen, it

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Speaker 1: was Donald J. Trump. I've got it right in front

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Speaker 1: of me, folks, Donald J. Trump forty six point eight

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Speaker 1: five Hillary Clinton forty six point five two percent. I mean,

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Speaker 1: are you a kid in me? It doesn't get closer

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Speaker 1: than that. It's what point three percentage points? A couple

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Speaker 1: of hundred. I mean, the math I don't have, I'm

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Speaker 1: gonna have to do the math in the break, but

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Speaker 1: only a couple of hundred votes separated this thing, and

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Speaker 1: it really does mean everything. And so to have people

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Speaker 1: from there, and as you describe it, what I would

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Speaker 1: say is every town America, you know, to have that

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Speaker 1: happen is just dynamic. Tell me about some of the

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Speaker 1: economic issues that are being discussed in Kenosha County. Well,

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Speaker 1: I mean the Kenosha and Racine, which is also a

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Speaker 1: neighboring community, are in the urban corridor between Milwaukee and Chicago,

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Speaker 1: and their their economies haven't time has been very dependent

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Speaker 1: upon Milwaukee or Chicago as what people used to call

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Speaker 1: bedroom communities, But recently there has been a real upswing

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Speaker 1: in terms of trying to get some economic development done

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Speaker 1: independently from those two larger urban areas and and to

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Speaker 1: move things up. And of course Kenosha has been working

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Speaker 1: on developing their downtown and their Uptown area for the

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Speaker 1: last few years. So this I don't know if you've

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Speaker 1: seen the pictures of Uptown, but the devastation to the

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Speaker 1: businesses in that area is phenomenal there. It's it's really

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Speaker 1: just pictures of rubble, and so there's a lot of

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Speaker 1: extra work to be done just to get people back

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Speaker 1: to a position where they can be uh they just

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Speaker 1: open for business, let alone actually be successful. And of

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Speaker 1: course doing this in the in the backdrop of COVID

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Speaker 1: nineteen makes it even more difficult as you as you

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Speaker 1: study politics and government in your in your profession, and

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Speaker 1: you look at this from a historical perspective. Here we

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Speaker 1: are in the midst of a global pandemic and the

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Speaker 1: unrest just gripping the country. Americans really wrestling with the

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Speaker 1: economic anxiety, the medical anxiety, and the and the the

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Speaker 1: facing whether or not their kids are going to go

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Speaker 1: back to school. And then you're you look out your window, professor,

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Speaker 1: and you see this unrest in your town. What's that like? Well,

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Speaker 1: I think it's it's it's unsettling, to say the least.

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Speaker 1: I think everyone is finding out that perhaps the the

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Speaker 1: level of what we think is is uh stable institutional

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Speaker 1: foundations that we have grown to count on, is it's

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Speaker 1: not as deep as we thought it might be. We

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Speaker 1: we're seeing how easily things can be upended and disrupted,

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Speaker 1: and and perhaps underneath there's a lot of things that

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Speaker 1: we need to confront that we've been sort of keeping

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Speaker 1: under wraps. I think and This is that question that

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Speaker 1: people have been raising. Someone raised it to President Trump

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Speaker 1: yesterday about um structural racism and and whether or not

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Speaker 1: this is simply an example where structural racism is now

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Speaker 1: sort of bubbling up in places where you never would

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Speaker 1: expect it to. But it doesn't mean that it's unique

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Speaker 1: to those to those areas. As a matter of fact,

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Speaker 1: given that it happened in a place like Kenosha, I

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Speaker 1: think we need to start thinking about the fact that

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Speaker 1: it is it is something that could happen in almost

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Speaker 1: every corner of the nation. Two hundred and fifty five.

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Speaker 1: Two hundred and fifty five that is the number of

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Speaker 1: votes that Trump beat Clinton by in Kenosha County. Wow.

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Speaker 1: Two votes. I'm telling you, folks, every single vote counts. Hey,

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Speaker 1: Professor Peggy James, Professor of political science at the University

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Speaker 1: of Wisconsin, Park Side. I'm sorry, I can't help it.

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Speaker 1: I can't help it, Professor, but I really appreciate your time,

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Speaker 1: and would you come back on again. Thank you for

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Speaker 1: your time. I appreciate the opportunity. Great, hopefully we'll have

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Speaker 1: you back on again. And Orson Wells, I didn't know this.

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Speaker 1: Orson Wells Uh was from Kenosha County as is uh

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Speaker 1: who else? Here's the list of famous folks from Kenosha.

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Speaker 1: Uh oh, here's one Margaret Landon, she wrote The King

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Speaker 1: and I and Orson Wells, of course, the author of

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Speaker 1: the best science fiction novel in the world, in the history.

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Speaker 1: I shouldn't be biased, but the War of the World's

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Speaker 1: great great book, great great movie. I'm Kevin Surreali Moore.

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Speaker 1: Next on the Chief Washington Course monitor for Bloomberg Television,

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Speaker 1: uh for Bloomberg Television, Boomberg Radio. And you're listening, so Bloomberg.

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Speaker 1: This is Bloomberg's sound on with Kevin Surreley on Bloomberg

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Speaker 1: and one oh five point seven FM HD two. I'm

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Speaker 1: Kevin Sirelli, and I gotta issue a correction. In the break,

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Speaker 1: my producer Matt Shirley, he said, keV, you got get

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Speaker 1: you messed up. You messed up. Orson Wells, who is

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Speaker 1: from Kenosha. I gotta get this right. Orson Wells is

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Speaker 1: from Kenosha. And and he's the writer and actor of

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Speaker 1: Citizen Kane. Okay, he did not write, he did not

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Speaker 1: write War of the World's but he directed the movie.

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Speaker 1: He directed them. No, he didn't well he wrote the

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Speaker 1: on the radio, the whole alien thing. Remember that I'm

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Speaker 1: not going to do that on the show. Uh. But

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Speaker 1: and then of course H. G. Wells wrote War of

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Speaker 1: the World. So you know, I apologize, won't happen again,

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Speaker 1: but I want to make sure that I get my

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Speaker 1: my famous Kenosha Wisconsin folks. Right. Okay, let's switch gears

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Speaker 1: now and uh talk about the markets, because it was

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Speaker 1: another another fascinating day on the market's. US equities rose

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Speaker 1: alongside European stocks as the nearly relentless rally and risk

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Speaker 1: assets continued, but with a twist as tech shares underperformed,

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Speaker 1: the SMP five jumped the most and almost two months

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Speaker 1: to an all time high. Was some of this year's

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Speaker 1: latest lead. I'm sorry some of this year's least loved

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Speaker 1: shares helping fuel the rally. So it's it's been remarkable,

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Speaker 1: but some more so. Much of the conversation from Wall

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Speaker 1: Street as they look at the final sprint into the

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Speaker 1: election has been with the volatility index and really whom

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Speaker 1: the stock market is pricing to see when and the

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Speaker 1: volatility index. So I'm thrilled to welcome to the program

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Speaker 1: someone who's been tracking all of this for Medley Global Advisors.

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Speaker 1: He is the managing director of Global macro Strategy at

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Speaker 1: Medley Global Advisors. Ben Emmon's Ben. You and I chat

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Speaker 1: offline on the on the terminal, and I just I

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Speaker 1: am fascinated by your notes. So we were talking about

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Speaker 1: this on air earlier today. Where are we in terms

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Speaker 1: of so much electoral uncertainty? The vix is at a

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Speaker 1: record indeed, Kevin, and thank you for having us on

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Speaker 1: the show. And you know, there is of course uncertainty

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Speaker 1: about this election. You know, for one, if it isn't

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Speaker 1: contested outcome because of the challenges with the mail in

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Speaker 1: ballots and the environment that we deal with, then that

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Speaker 1: may be delay. And that I think what the volatility

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Speaker 1: is saying is that if we do have after the

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Speaker 1: election day no clear vision on who will be our

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Speaker 1: next leader, our next president, then the marketble price in

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Speaker 1: a little bit of that sort of leadership, you know, Vogue,

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Speaker 1: if you will, like a little bit of a gap there.

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Speaker 1: But other than that, it's really about what's the direction

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Speaker 1: of the economy from there, because at the moment, the

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Speaker 1: markets are rallying so much because we're in this momentum

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Speaker 1: of the reopening that supporters basically by both both parties

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Speaker 1: right as a bipartisan effort behind it, and obviously with

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Speaker 1: all the clearly support on top of it. So when

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Speaker 1: we get into the election thereafter, there will be a

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Speaker 1: period of uncertainty coming because the market will start the

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Speaker 1: pricing like what will be the new policy, whoever will

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Speaker 1: be in the White House, and when when will the

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Speaker 1: White House be you know, really occupied from from their

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Speaker 1: own you know, I think the market is a bit

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Speaker 1: nervous about it may not be decided on that day.

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Speaker 1: You know, it is fascinated because we in the media,

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Speaker 1: we in the media have been you know, trying to

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Speaker 1: talk about how because of the increase in mail in

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Speaker 1: voting regardless of of the states or whatnot, even if

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Speaker 1: it's a single percentage point increase in a state like

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Speaker 1: Wisconsin or North Carolina or Florida, these battleground states and

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Speaker 1: they're post stamped on election day, it's gonna take a

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Speaker 1: couple of days for them to get counted, for them

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Speaker 1: to get counted and tallied. And as a result of that,

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Speaker 1: if these know, you look at Kenosha County, we're talking

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Speaker 1: about it earlier, only two and fifty votes separated Kenosha County.

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Speaker 1: So I mean, because of that, we really might not

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Speaker 1: have the results of the election on November three, or

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Speaker 1: even in the early morning hours of November four. But

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Speaker 1: I've hearn from you, Ben Emmons, Global macro Strategy Managing

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Speaker 1: Director at Medley Global Advisors, is that the markets are

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Speaker 1: figuring that out and coming to terms with that as well.

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Speaker 1: I think the market is figuring that out, and of course,

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Speaker 1: you know, a few days will not be that significant,

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Speaker 1: but if it becomes weeks at a time, then it

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Speaker 1: will again because it will leave us in some sort

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Speaker 1: of a void of like what what we're going to

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Speaker 1: be facing with after the election to the direction is

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Speaker 1: it the status quo or not? I, by the way,

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Speaker 1: think Kevin that the market is not pricing in volatility

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Speaker 1: because people are nervous about, say that Joe Biden wins

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Speaker 1: the election and we'll get core porate text heights heights

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Speaker 1: right after that. That's not the case, and I don't

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Speaker 1: think the market is worried about that. Is worried about

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Speaker 1: is lingering uncertainty right after the election because of this

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Speaker 1: mill and voting. In addition that, you know, it is

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Speaker 1: of course a really difficult election because of the stakes

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Speaker 1: are so high, so let's play a bit in the

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Speaker 1: minds of people trying to hedge that because, by the way,

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Speaker 1: it's not only happening in the equity market, but also

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Speaker 1: currency and interest rate markets, which again there's also a

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Speaker 1: lot to do with the four quarter in general. Right

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Speaker 1: right now we have a major bounds in the third

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Speaker 1: quarter that was to be expected. The fourth quarter is

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Speaker 1: still to be uncertain about. The will the reopening actually

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Speaker 1: proceeds smoothly because of a second wave and the winter

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Speaker 1: and all these things, two on top of the election, right,

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Speaker 1: so that plays a role too. I think how the

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Speaker 1: economy will behave under you know, maybe a void of

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Speaker 1: leadership for period of time. And I got some more

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Speaker 1: topics that I want to heit with you from a

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Speaker 1: market perspective, and coming up, we're gonna check in with

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Speaker 1: Mario Parker, Bloomberg White House reporter about the developments on

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Speaker 1: the CDC telling states to get prepared by November one

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Speaker 1: for a vaccine. And that's where I want to take this.

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Speaker 1: How much of vaccination implementation is that going to impact

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Speaker 1: the markets? I think that's a major factor for markets.

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Speaker 1: I mean, so indeed, it was important news today and

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Speaker 1: I think it did help the market as well, market

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Speaker 1: sentiments because the bushes there, they get this vaccine out there,

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Speaker 1: even though it may not be the perfect vaccine. The importance,

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Speaker 1: let's say, the symbolism of the vaccine, if you will, right,

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Speaker 1: is that the severity of the crisis will be will

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Speaker 1: be resolved because the vaccine is the true solution to

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Speaker 1: the crisis. The social distancing and other efforts are to

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Speaker 1: mitigate the crisis, but the solution is the vaccine really

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Speaker 1: because ultimately it will protect people if if it's effective.

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Speaker 1: And so markets are looking at this date. Now obviously

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Speaker 1: there's the political angle, right, there's clearly an effort here

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Speaker 1: to try to make it happen before the election, you know,

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Speaker 1: to vote to influence voting neverthelass I mean for markets,

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Speaker 1: that's that's an important point in time and also and

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Speaker 1: also it gives it gives business owners the continent the vaccination.

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Speaker 1: I mean that the thinking you know of of people

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Speaker 1: not getting back into the office next calendar year, a

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Speaker 1: lot of that has to do with with vaccinations. And

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Speaker 1: so the rollout of that is going to be huge

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Speaker 1: in terms of politics. But even from uh economic standpoint,

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Speaker 1: with the markets, it's going to be massive, totally, totally

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Speaker 1: here you on that point. All right, finally, and we

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Speaker 1: joke about this that there's never any new news. It's

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Speaker 1: like day by day, repeat, rerun, no news on the

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Speaker 1: fiscal stimulus front. How does that factor intolve this, because

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Speaker 1: the markets have really baked in the expectation of at

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Speaker 1: least a trillion dollar stimulus. Yeah, it's it's definitely there.

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Speaker 1: Like you know, the fact is that now if we

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Speaker 1: do really hit the cliff, the fiscal cliff we call it, right,

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Speaker 1: but basically the the extent, the enhanced benefits, the extension

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Speaker 1: that this is basically expired. But I'm really sort of

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Speaker 1: hit the economy that would be at the end of September.

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Speaker 1: In addition to that, there is a looming thread of

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Speaker 1: the government shutdown again, which although in the past does

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Speaker 1: not matter much for the economy just a ten to

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Speaker 1: two tents of a percentage GDP, this time around it

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Speaker 1: will matter a lot, I guess. You know. They will

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Speaker 1: have additional uncertainty simply because of the election environment as

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Speaker 1: it is. So, yes, the the markets is banking on

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Speaker 1: that the deal will will be there. There's a bush

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Speaker 1: there to get there. There's just still a trillion or

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Speaker 1: so dollars difference between the two sides. I think we

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Speaker 1: think that all that we will get to resolve like

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Speaker 1: it has happened before. It sounds a bit like Europe

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Speaker 1: right where they get in the last together in this

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Speaker 1: case too, and so that that is a risk of

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Speaker 1: the markets to right if it doesn't happen and it

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Speaker 1: gets delayed, and that that will be risk of markets

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Speaker 1: fascinating and historically September always having been the worst performing

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Speaker 1: month for stocks. Hey, Ben Emmon's I'm thrilled, thrilled to

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Speaker 1: have you on the program. Come back anytime, Managing director

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Speaker 1: of Global macro Strategy at Medley Global Advisors. I will

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Speaker 1: talk to you soon. Ben Emmon's, Managing director of Global

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Speaker 1: macro Strategy at Medley Global Advisors. Coming up, we head

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Speaker 1: to the White House beat Mario Parker is going to

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Speaker 1: dish out his reporter's notebook. Lots to get through. Download

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Speaker 1: the Bloomberg Sound on podcast on appleaduanes a, Bloomberg dot com,

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Speaker 1: or by downloading the Bloomberg Business App. You can also

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Speaker 1: find me on Radio dot com, I Heart Radio and Spotify.

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Speaker 1: This is a good song you're listening to Bloomberg. Why

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Speaker 1: from our nation's ca how do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seventy kennidates for different vaccines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: on Bloomberg two CDC. It tells the States to get

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Speaker 1: ready for a vaccine by November one, and Democratic presidential

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Speaker 1: nominee Joe Biden heads to Kenosha tomorrow. The latest on

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Speaker 1: the front plus the polite, the political fallout for Congressman

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Speaker 1: Joe Kennedy, the third who lost to Senator Ed Markey.

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Speaker 1: We're going live to Boston. There's just so much news

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Speaker 1: to get through today, and especially as it relates to vaccinations,

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Speaker 1: and this is the big story tonight. John Tozi and

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Speaker 1: Michelle fa Coursays reporting on the Bloomberg terminal. The US

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Speaker 1: Centers for Disease Control and Prevention the CDC. They've told

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Speaker 1: states to prepare for a COVID nineteen vaccine to be

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Speaker 1: ready by November one, and asked them to remove obstacles

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Speaker 1: that would prevent distribution sites from opening. The date suggests

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Speaker 1: that the federal government anticipates that a vaccine will become

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Speaker 1: available just days before President Trump stands for re election

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Speaker 1: on November three. This is an aggressive goal. It depends

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Speaker 1: on shots being tested and reviewed by then, and how

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Speaker 1: the rollout of this particular vaccination happens really could really

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Speaker 1: could impact uh the presidential election. Mario Parkers on the line.

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Speaker 1: He is Bloomberg's White House Reporter Vaccinations the October Surprise. Indeed,

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Speaker 1: we always had a failing just could happen, right, I mean,

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Speaker 1: the president We've been talking about it. Hey, any listener

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Speaker 1: to the show, I've been talking about it. What do

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Speaker 1: I know? Right, I'm just I'm just a kid from Dalko.

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Speaker 1: Go ahead, But yeah, President has been kind of telegraphing

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Speaker 1: this for a while now, right. His one of his

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Speaker 1: go to statements, in fact, is we'll have a vact

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Speaker 1: plain by the end of the year, And he sometimes

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Speaker 1: causes for effect and says maybe before you know, maybe

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Speaker 1: sooner than that. I mean, so that the subtext is

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Speaker 1: always that it could be November around the election. And

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Speaker 1: so how does this get political? Because clearly in the

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Speaker 1: month of October when there's three presidential debates and and

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Speaker 1: a vice presidential debate and uh, Penn States Verry owned

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Speaker 1: Steve sculldy C. Now we'll be moderating the debate. Chris

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Speaker 1: Wallace the Fox News will be doing the first debate,

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Speaker 1: Kristen Welkner of NBC News will be doing a debate,

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Speaker 1: and then Susan Page of USA Today doing the VP debate.

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Speaker 1: How is this going to impact the debates of the vaccine, Well,

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Speaker 1: it'll be a big deal. I mean, we saw Joe

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Speaker 1: Biden out there today talking about the coronavirus. So we

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Speaker 1: see Democrats wanting to keep the coronavirus and the handling

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Speaker 1: of the coronavirus front and center in the campaign. President Trump,

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Speaker 1: of course, has taken some hits on the handling of

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Speaker 1: the coronavirus, so he's wanted to He's desired to pivot

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Speaker 1: to other issues, and so you'll see the Democrats, of course,

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Speaker 1: try to try to put that in play. Uh. You'll also,

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Speaker 1: of course, I mean this is one of the biggest

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Speaker 1: things on American's mind. So you will see it, I'm

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Speaker 1: sure come up in the debate. But it's also again,

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Speaker 1: as he alluded to the timing, that people will be

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Speaker 1: serious about. Mario Parker's on the line. He has a

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Speaker 1: Boomberg White House reporter, Mario, as you look through your

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Speaker 1: reporter notebook and you think about just the policies in

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Speaker 1: these battleground states. Unstruck that Biden has headed to Shanksville, Pennsylvania,

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Speaker 1: to commemorate the September eleventh Memorial later this month. But

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Speaker 1: I was struck that when he was in Pittsburgh making

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Speaker 1: his remarks on Kenosha, he talked about fracking. He that

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Speaker 1: he was not opposed to ending fracking a massive, massive

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Speaker 1: issue in Pennsylvania. I mean literally, he does that, and

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Speaker 1: then the next day up in Massachusetts at Markie beats

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Speaker 1: Joe Kennedy and he's one of the co authors of

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Speaker 1: the Green New Deal Mary, and we'll get into that promise.

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Speaker 1: But but you know, from a policy standpoint, how effective

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Speaker 1: has Biden been on navigating the policies of the left

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Speaker 1: and the centrists. Uh, he has to get out more.

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Speaker 1: I think yesterday was the first, uh, first time he's

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Speaker 1: he's come out um and and talked pretty forcefully about

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Speaker 1: that issue. I think of the play that his campaign

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Speaker 1: was running where he had scarce public public appearances, I

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Speaker 1: think that's about run out now. And as you mentioned,

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Speaker 1: I mean in your home state of Pennsylvania. My former life,

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Speaker 1: I covered energy. Uh, fracking is a big deal. And

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Speaker 1: the last thing people want to hear is in a

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Speaker 1: severe session like the one we are in right now,

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Speaker 1: that there's even the possibility that they could lose their

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Speaker 1: jobs or their livelihood. So it's a message that the

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Speaker 1: Trump campaign has really been handling home. And it's to

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Speaker 1: Joe Biden's a response to this, and and just let's

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Speaker 1: dig deeper, especially on this, because I think so much

428
00:25:23,119 --> 00:25:28,240
Speaker 1: of the national conversation is about you know, dare I

429
00:25:28,280 --> 00:25:32,440
Speaker 1: say political water cooler talk, But whether it was health

430
00:25:32,480 --> 00:25:36,680
Speaker 1: insurance last cycle, and energy or energy policy, I would

431
00:25:36,760 --> 00:25:40,760
Speaker 1: argue this cycle, it's it's still brewing beneath the surface.

432
00:25:40,800 --> 00:25:47,040
Speaker 1: And you just so so masterfully uh said why it's

433
00:25:47,080 --> 00:25:51,840
Speaker 1: important to to southwestern Pennsylvania. Does does Joe Biden need

434
00:25:51,920 --> 00:25:55,280
Speaker 1: to do more? And if he does, amplify his message?

435
00:25:55,320 --> 00:25:59,800
Speaker 1: Mario on fracking for example, does he risk losing AOC

436
00:26:00,040 --> 00:26:05,520
Speaker 1: and that markets. It's a tough, tough dance, and it's

437
00:26:05,560 --> 00:26:09,199
Speaker 1: a dance that uh, the Trump campaign has picked up

438
00:26:09,240 --> 00:26:14,200
Speaker 1: on just this to split within, um, the Democrat Party

439
00:26:14,240 --> 00:26:18,040
Speaker 1: between the more liberal wing and then the more centrist wing.

440
00:26:18,320 --> 00:26:21,240
Speaker 1: Of course, Biden is known as a centrist, so it's

441
00:26:21,280 --> 00:26:24,680
Speaker 1: in his wheelhouse to do so. Um, it's not. I'm

442
00:26:24,880 --> 00:26:28,840
Speaker 1: unsure as to how he kind of retains uh, both

443
00:26:29,040 --> 00:26:32,480
Speaker 1: both sides of that party. But he really does have to.

444
00:26:32,840 --> 00:26:35,320
Speaker 1: He has no choice but to do more and speak

445
00:26:35,320 --> 00:26:39,600
Speaker 1: out more if his policies are you know, to call

446
00:26:39,680 --> 00:26:43,160
Speaker 1: the Trump campaign out on what he may being false,

447
00:26:43,240 --> 00:26:45,240
Speaker 1: as he has to fight back a lot more because

448
00:26:45,320 --> 00:26:49,000
Speaker 1: right now they are starting to define him. It's it's remarkable. Okay,

449
00:26:49,200 --> 00:26:51,040
Speaker 1: tell me something in your notebook that didn't get a

450
00:26:51,040 --> 00:26:53,360
Speaker 1: lot of press today that you want to hammer home

451
00:26:53,400 --> 00:26:57,920
Speaker 1: and you think should be talked about. I think Minnesota. Right.

452
00:26:58,000 --> 00:27:00,239
Speaker 1: We hear a lot about Wisconsin, we heard a lot

453
00:27:00,280 --> 00:27:04,159
Speaker 1: about Pennsylvania, but the Trump campaign feels like Minnesota is

454
00:27:04,200 --> 00:27:08,040
Speaker 1: in play. Um, Biden is hitting the campaign trail. He

455
00:27:08,160 --> 00:27:12,600
Speaker 1: mentioned Minnesota, a state that hasn't turned read since nineteen

456
00:27:12,680 --> 00:27:14,960
Speaker 1: seventy two, So it looks like it really isn't play,

457
00:27:15,160 --> 00:27:16,919
Speaker 1: and it's a play for all the reasons we just

458
00:27:16,960 --> 00:27:20,359
Speaker 1: talked about, because similar to Pennsylvania, it has an industrial

459
00:27:20,400 --> 00:27:23,480
Speaker 1: region as well. It's more mining, of course, but it

460
00:27:23,520 --> 00:27:25,640
Speaker 1: has some of these issues that we're talking about, whether

461
00:27:25,640 --> 00:27:29,000
Speaker 1: it's mining, where the metropolitan areas with the unrest or

462
00:27:29,520 --> 00:27:34,439
Speaker 1: trade and do you think it's kind of how does

463
00:27:34,480 --> 00:27:36,920
Speaker 1: Joe Biden hit the campaign trail but then at the

464
00:27:36,960 --> 00:27:41,439
Speaker 1: same time say well, we're not, you know, safe, but

465
00:27:41,480 --> 00:27:42,919
Speaker 1: you're on the campaign trail. Do you know what I mean?

466
00:27:42,960 --> 00:27:46,960
Speaker 1: I mean, it's it's it is the delicate balance. And

467
00:27:47,040 --> 00:27:50,920
Speaker 1: we saw his press conference today where he, uh, he

468
00:27:51,080 --> 00:27:53,159
Speaker 1: struggled to kind of come up with an answer for

469
00:27:53,200 --> 00:27:56,359
Speaker 1: that as to why he would travel, for example, to

470
00:27:56,800 --> 00:28:01,080
Speaker 1: Wisconsin tomorrow, but he didn't travel about three weeks ago.

471
00:28:01,440 --> 00:28:03,600
Speaker 1: So I mean, it is a delicate balance. I mean,

472
00:28:03,800 --> 00:28:07,000
Speaker 1: the easy answer for him probably is that voters need

473
00:28:07,040 --> 00:28:11,640
Speaker 1: to see him on the trail, But the real answer

474
00:28:11,720 --> 00:28:14,600
Speaker 1: is he needs to campaign because the swing states are tight. Alright,

475
00:28:14,640 --> 00:28:17,080
Speaker 1: Mario Parker, I always I could I could talk to

476
00:28:17,080 --> 00:28:19,920
Speaker 1: you for an hour. I appreciate you coming on. Mario Parker,

477
00:28:20,040 --> 00:28:23,399
Speaker 1: energy policy reporter. At heart, I'm a financial services reporter

478
00:28:23,480 --> 00:28:26,719
Speaker 1: at hart so Us nerds can nerd out together. Coming up,

479
00:28:26,760 --> 00:28:29,680
Speaker 1: we head to Massachusetts. I'm obsessed. The political junkie of

480
00:28:29,760 --> 00:28:33,399
Speaker 1: me is obsessed. Marky versus a Kennedy, an incumbent versus

481
00:28:33,400 --> 00:28:36,720
Speaker 1: a general, an upstart. Well, I guess he's a Kennedy.

482
00:28:36,840 --> 00:28:39,080
Speaker 1: But it's it's gonna be. It's it's just fascinating. All right,

483
00:28:39,120 --> 00:28:43,080
Speaker 1: We're gonna live to their next I'm Kevin Cereli. Take

484
00:28:43,120 --> 00:28:45,800
Speaker 1: a deep breath, Kevin the chief Washington correspondent Fromloomberg Television

485
00:28:45,800 --> 00:28:59,240
Speaker 1: and Radio. You're listening to Bloomberg. My name is Kevin Cereli.

486
00:28:59,440 --> 00:29:03,200
Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for

487
00:29:03,240 --> 00:29:08,360
Speaker 1: Bloomberg Radio. Keith Urban Days go by September, Folks. It's

488
00:29:08,360 --> 00:29:10,480
Speaker 1: a great song. First album, first country album. I ever

489
00:29:10,520 --> 00:29:15,120
Speaker 1: bought Keith Urban CDs? Remember them CDs? Um? Yeah, Keith

490
00:29:15,160 --> 00:29:19,080
Speaker 1: Urban legend legend. Okay, this is a race that I

491
00:29:19,120 --> 00:29:21,920
Speaker 1: am obsessed over. And if you're a political drunk, which

492
00:29:21,960 --> 00:29:24,640
Speaker 1: I am, I admit it, I own it. Then the

493
00:29:24,680 --> 00:29:30,720
Speaker 1: Massachusetts Senate primary is just riveting. Here's why you've got

494
00:29:30,840 --> 00:29:36,360
Speaker 1: Senator Ed Markey a seventy something, okay, progressive and Markey

495
00:29:36,640 --> 00:29:40,800
Speaker 1: he running for Senate and he gets challenged. He gets

496
00:29:40,920 --> 00:29:48,520
Speaker 1: challenged by Congressman Congressman Joe Kennedy, reading from the Bloomberg Terminal.

497
00:29:48,560 --> 00:29:51,800
Speaker 1: Senator and Market in Massachusetts defeated Representative Joe Kennedy and

498
00:29:51,840 --> 00:29:56,800
Speaker 1: the state's hotly contested Democratic Senate primary, besting the political

499
00:29:57,200 --> 00:30:02,160
Speaker 1: die the political dynasty by galvanizing the party's progressive wing.

500
00:30:02,360 --> 00:30:04,800
Speaker 1: It was a generational argument that the Kennedy tried to

501
00:30:04,840 --> 00:30:10,400
Speaker 1: make versus the progressive argument the AOC Bernie Sanders argument

502
00:30:10,760 --> 00:30:14,320
Speaker 1: that Ed Markey tried to make. With about eighty six

503
00:30:14,400 --> 00:30:17,600
Speaker 1: percent of precincts reporting, Markey had fifty five point five

504
00:30:17,600 --> 00:30:21,240
Speaker 1: percent of the vote to Kennedy's four point four percent

505
00:30:21,480 --> 00:30:23,520
Speaker 1: of the vote. When I knew we were going to

506
00:30:23,560 --> 00:30:25,600
Speaker 1: do a segment on this, I said, we got to

507
00:30:25,680 --> 00:30:28,960
Speaker 1: check in. We've got to check in with Scott. Scott

508
00:30:29,040 --> 00:30:30,719
Speaker 1: first first and is on the line. He's the founder

509
00:30:30,720 --> 00:30:33,600
Speaker 1: of Liberty Square Group and a long time Democratic strategist.

510
00:30:33,600 --> 00:30:37,920
Speaker 1: He's based in Boston, and uh, he is just knows

511
00:30:37,960 --> 00:30:41,920
Speaker 1: the Kennedy's world inside and out. Scott. I think so

512
00:30:42,000 --> 00:30:45,360
Speaker 1: much of the press today was, oh, the Kennedy lost

513
00:30:45,440 --> 00:30:48,959
Speaker 1: and and the Progressives won. But it was an uphill

514
00:30:49,040 --> 00:30:52,280
Speaker 1: climb for Kennedy to begin with, and he still has

515
00:30:52,320 --> 00:30:56,040
Speaker 1: a political future. What Let's first let's characterize what happened

516
00:30:56,080 --> 00:30:58,560
Speaker 1: last night, and then let's talk about his future. Sure,

517
00:30:58,600 --> 00:31:02,160
Speaker 1: I mean he does. Um he and in disclosure at markets, Uh,

518
00:31:02,520 --> 00:31:04,560
Speaker 1: it was my client through the through the primary, and

519
00:31:04,560 --> 00:31:07,720
Speaker 1: I used to work for Senator Kennedy. Um be A

520
00:31:07,800 --> 00:31:11,080
Speaker 1: poll show that that people in Massachusetts think very highly

521
00:31:11,160 --> 00:31:13,280
Speaker 1: of both of them. They both have still maintained very

522
00:31:13,360 --> 00:31:17,240
Speaker 1: high approval ratings um and And obviously the reason why

523
00:31:17,240 --> 00:31:20,200
Speaker 1: this is historic um And neither of them had ever

524
00:31:20,240 --> 00:31:22,200
Speaker 1: lost a race at markets since he was first deloyted

525
00:31:22,240 --> 00:31:24,960
Speaker 1: to Congress actually the Massachusetts House in nineteen seventy two

526
00:31:24,960 --> 00:31:27,440
Speaker 1: in Congress and seventy six. But this is the first

527
00:31:27,440 --> 00:31:31,000
Speaker 1: time in twenty six contests where the contested contest where

528
00:31:31,080 --> 00:31:35,760
Speaker 1: Kennedy has lost in Massachusetts s taking back to um

529
00:31:35,920 --> 00:31:38,880
Speaker 1: so it's it's and in the past seventy years, um

530
00:31:39,000 --> 00:31:41,960
Speaker 1: Ed Markey is the only Democratic United States senator who

531
00:31:41,960 --> 00:31:44,120
Speaker 1: has not run for president, So the stakes were quite

532
00:31:44,200 --> 00:31:47,600
Speaker 1: high in this and the expectations were as well. Joe

533
00:31:47,640 --> 00:31:50,920
Speaker 1: Kennedy a year ago. We announced in September the first

534
00:31:50,960 --> 00:31:54,479
Speaker 1: public polling started off fourteen points ahead of Ed Marquis

535
00:31:55,000 --> 00:31:57,840
Speaker 1: and that deteriorated over a period of time. In a

536
00:31:57,920 --> 00:32:01,080
Speaker 1: very expensive race where combined thirty million and dollars has

537
00:32:01,120 --> 00:32:03,800
Speaker 1: been spent just on the the candidate start on outside

538
00:32:03,840 --> 00:32:07,280
Speaker 1: money and h yesterday at market one by ten points.

539
00:32:08,120 --> 00:32:11,000
Speaker 1: So what does it mean? First of all, I mean,

540
00:32:11,160 --> 00:32:14,160
Speaker 1: there's always been this joke in political circles that Congressman

541
00:32:14,200 --> 00:32:17,400
Speaker 1: Kennedy is just waiting for Senator Warranted to make some

542
00:32:17,480 --> 00:32:19,960
Speaker 1: type of move or or whatnot that could could Kennedy

543
00:32:20,040 --> 00:32:24,520
Speaker 1: run for governor? Kennedy could run for government. Kennedy still

544
00:32:24,520 --> 00:32:27,960
Speaker 1: remains one of the most popular, um, you know, popular

545
00:32:28,200 --> 00:32:31,800
Speaker 1: elected officials in the state. UM. And I think despite

546
00:32:31,920 --> 00:32:34,600
Speaker 1: the race at the end got contentious that I think

547
00:32:34,600 --> 00:32:37,360
Speaker 1: we'll probably look back on and think it was more uh,

548
00:32:37,400 --> 00:32:41,400
Speaker 1: you know, more more less less light than heat and uh.

549
00:32:41,600 --> 00:32:44,920
Speaker 1: And and they've they've been very gracious Connerssman gave a

550
00:32:44,960 --> 00:32:48,040
Speaker 1: gracious concession uh speech last night and call and and

551
00:32:48,240 --> 00:32:51,880
Speaker 1: Senator was gracious to Joe Kennedy today, Um, and I

552
00:32:51,960 --> 00:32:54,440
Speaker 1: think it wasn't. I think there was the sense that

553
00:32:54,800 --> 00:32:56,880
Speaker 1: there was no reason to replace that Marky. I don't

554
00:32:56,880 --> 00:32:59,320
Speaker 1: think Joe. Um. If there was a feeling of his campaign,

555
00:32:59,360 --> 00:33:02,080
Speaker 1: it was articulate sting that he tried out different themes,

556
00:33:02,160 --> 00:33:07,000
Speaker 1: generational themes, family and effectiveness. You you're not up here,

557
00:33:07,440 --> 00:33:09,200
Speaker 1: you live down in Washington, and then you weren't down

558
00:33:09,200 --> 00:33:10,960
Speaker 1: in Washington for COVID votes. So I think it was

559
00:33:11,320 --> 00:33:15,560
Speaker 1: a muddied message. And um, you know with John Walsh,

560
00:33:15,640 --> 00:33:18,760
Speaker 1: the former executive director chair of the Democratic Party who

561
00:33:18,880 --> 00:33:21,520
Speaker 1: ran uh and the strategy to let that elected government

562
00:33:21,560 --> 00:33:25,080
Speaker 1: of all Patrick, he just ran a brilliant campaign. And

563
00:33:25,080 --> 00:33:29,480
Speaker 1: and Ed Markey, I think through the campaign emerged with

564
00:33:29,520 --> 00:33:33,000
Speaker 1: a real identity that people didn't know before. And John

565
00:33:33,000 --> 00:33:35,520
Speaker 1: Wals a year ago said, um, uh, you know, I

566
00:33:35,520 --> 00:33:37,080
Speaker 1: think at the end of this campaign, people will say

567
00:33:37,080 --> 00:33:39,200
Speaker 1: I didn't know that about Ed Markey, and I think

568
00:33:39,240 --> 00:33:40,880
Speaker 1: that that is where we are. People didn't know that

569
00:33:40,880 --> 00:33:43,800
Speaker 1: he had sponsored over five hundred bills, um, that that

570
00:33:43,920 --> 00:33:46,640
Speaker 1: had done, the leadership that he had on telecommunications and

571
00:33:46,680 --> 00:33:50,200
Speaker 1: climate change and nuclear freees and other things, and then

572
00:33:50,240 --> 00:33:55,120
Speaker 1: now he's become this real champion um, particularly the Democrats

573
00:33:55,160 --> 00:33:58,479
Speaker 1: take control of the Senate and president of of Climate

574
00:33:58,560 --> 00:34:01,000
Speaker 1: Change in Medicare for All. Scott Verson's on the line.

575
00:34:01,000 --> 00:34:02,800
Speaker 1: He's the founder of Liberty Square Group in a long

576
00:34:02,800 --> 00:34:06,000
Speaker 1: time Democratic strategist. He joins us from Boston, let's go Macro.

577
00:34:06,640 --> 00:34:11,359
Speaker 1: Let's go Macro, because Biden needs Connor Lamb country. And

578
00:34:11,480 --> 00:34:14,160
Speaker 1: Ed Markey just proved last night that up in Massachusetts,

579
00:34:14,440 --> 00:34:18,560
Speaker 1: a stronghold of the Democratic Party, that maybe Connor Lamb

580
00:34:18,600 --> 00:34:24,280
Speaker 1: Country is a little so far away from where AOC

581
00:34:24,600 --> 00:34:27,600
Speaker 1: is AOC of course, having backed Senator Market I mean,

582
00:34:27,760 --> 00:34:29,960
Speaker 1: and I say this because literally and I said it

583
00:34:30,000 --> 00:34:33,320
Speaker 1: earlier in the program. Here's Joe Biden campaigning in southwestern

584
00:34:33,360 --> 00:34:35,960
Speaker 1: Pennsylvania earlier this week and says that he is not

585
00:34:36,160 --> 00:34:40,640
Speaker 1: for ending fracking. Well, Ed Markey doesn't like fracking. And

586
00:34:40,680 --> 00:34:44,600
Speaker 1: so I guess if Joe Biden wants to beat Donald Trump,

587
00:34:44,680 --> 00:34:47,960
Speaker 1: he's gonna need and Marky crowd to turn out for

588
00:34:48,040 --> 00:34:50,320
Speaker 1: him and to be excited about it, especially some of

589
00:34:50,360 --> 00:34:53,360
Speaker 1: those younger voters. And so I guess how does he

590
00:34:53,480 --> 00:34:55,279
Speaker 1: how does he do that? And what is last night

591
00:34:55,320 --> 00:34:58,880
Speaker 1: illustrate about that tension in the Democratic Party. Well, I

592
00:34:58,880 --> 00:35:01,719
Speaker 1: think you know that big, a big chunk of Ed

593
00:35:01,760 --> 00:35:03,960
Speaker 1: Markey's victory speech last night was talking about the need

594
00:35:04,000 --> 00:35:05,360
Speaker 1: to get rid of Donald Trump and the need to

595
00:35:05,360 --> 00:35:08,600
Speaker 1: elect Joe Biden and talked about him by name. And

596
00:35:08,719 --> 00:35:10,800
Speaker 1: I think that is might be the key. I mean, obviously,

597
00:35:10,800 --> 00:35:14,040
Speaker 1: Massachusetts is not indicative of the rest of the country

598
00:35:14,120 --> 00:35:15,960
Speaker 1: in terms of where we are. I mean, in some

599
00:35:16,040 --> 00:35:19,279
Speaker 1: of the some of the progressive bastions of Somerville and Cambridge,

600
00:35:19,520 --> 00:35:23,120
Speaker 1: Ed Markey took eighty percent of the vote against against

601
00:35:23,160 --> 00:35:27,600
Speaker 1: Joe Kennedy, I mean, unbelievably stunning and and and u

602
00:35:28,239 --> 00:35:30,640
Speaker 1: Joe Kennedy was painted as the moderate. This race one

603
00:35:31,520 --> 00:35:33,360
Speaker 1: some of the you know, the gateway cities as we

604
00:35:33,400 --> 00:35:36,480
Speaker 1: call them up here, and the poor sections of Massachusetts.

605
00:35:36,520 --> 00:35:39,000
Speaker 1: But if you look at two congressional races, Richie Neal

606
00:35:39,040 --> 00:35:42,120
Speaker 1: the Triman Ways and Means and Stephen Lincoln Boston, a

607
00:35:42,160 --> 00:35:44,120
Speaker 1: lot of people voted for Ed Markey and voted for

608
00:35:44,239 --> 00:35:46,840
Speaker 1: both of them, and they were both reelected. So I

609
00:35:46,880 --> 00:35:49,880
Speaker 1: think there was this kind of resiliency to the Democratic coalition,

610
00:35:50,120 --> 00:35:54,360
Speaker 1: and certainly in Massachusetts UM where the governor remains the

611
00:35:54,400 --> 00:35:59,080
Speaker 1: Republican governor remains highly popular amongst Democrats in the and

612
00:35:59,480 --> 00:36:03,680
Speaker 1: is approval rating mass She's some Democrats. If he run

613
00:36:03,719 --> 00:36:06,040
Speaker 1: as a Democrat, he'd probably win bigger than he did

614
00:36:06,120 --> 00:36:09,400
Speaker 1: last time. Um, there's great resiliency to that coalition, and

615
00:36:09,440 --> 00:36:12,040
Speaker 1: I think the up here at least there's a united

616
00:36:12,080 --> 00:36:14,799
Speaker 1: front post from progressive and from the Joe Biden wing

617
00:36:14,800 --> 00:36:16,920
Speaker 1: of the party on defeating Donald Frump. You know what

618
00:36:16,960 --> 00:36:19,120
Speaker 1: I always say, Scott, I think the Kennedy's need to

619
00:36:19,120 --> 00:36:22,840
Speaker 1: bring back George Magazine. I read every back issue in college.

620
00:36:22,960 --> 00:36:24,640
Speaker 1: That just shows you how much of a nerd I was.

621
00:36:24,760 --> 00:36:29,440
Speaker 1: But uh, George macmember, George Scott, I do all right,

622
00:36:29,480 --> 00:36:31,279
Speaker 1: we gotta bring it back. Thanks Scott for joining us.

623
00:36:31,280 --> 00:36:34,600
Speaker 1: Founder of Liberty Square Group and longtime Democratic strategists. Coming

624
00:36:34,680 --> 00:36:37,719
Speaker 1: up next, WHI check in with the Trump campaign. I'm

625
00:36:37,800 --> 00:36:54,839
Speaker 1: Kevin Sirelli. You're listening to Bloomberg. You're listening to Bloomberg

626
00:36:54,920 --> 00:36:59,000
Speaker 1: Sound On with Kevin Surreley on Bloomberg and one oh

627
00:36:59,120 --> 00:37:02,600
Speaker 1: five point seven m h D two Kevin Cerelei'm the

628
00:37:02,640 --> 00:37:05,799
Speaker 1: chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

629
00:37:05,800 --> 00:37:08,479
Speaker 1: I was thinking a lot about George Magazine ever since

630
00:37:08,520 --> 00:37:11,440
Speaker 1: we got we were talking about the Kennedy's George Magazine.

631
00:37:11,440 --> 00:37:16,840
Speaker 1: One of my favorite quotes from uh jfk Jr. That

632
00:37:16,840 --> 00:37:19,480
Speaker 1: he wrote in the opening pages of one of the

633
00:37:19,560 --> 00:37:24,480
Speaker 1: early issues of George Magazine. In he said, quote, it's

634
00:37:24,520 --> 00:37:27,040
Speaker 1: hard for me to talk about a legacy or a mystique.

635
00:37:27,120 --> 00:37:29,600
Speaker 1: It's my family. The fact that there have been difficulties

636
00:37:29,600 --> 00:37:33,440
Speaker 1: and hardships or obstacles makes us closer end quote. That was,

637
00:37:33,480 --> 00:37:36,480
Speaker 1: of course, now the late jfk Jr. One of the

638
00:37:36,480 --> 00:37:38,399
Speaker 1: privileges of being a reporter is you got a front

639
00:37:38,480 --> 00:37:42,200
Speaker 1: row seat to history. You see the effect that politics

640
00:37:42,320 --> 00:37:45,560
Speaker 1: has on a family. It's very interesting, and it would

641
00:37:45,560 --> 00:37:48,920
Speaker 1: be in two thousand and more the February March issue

642
00:37:49,360 --> 00:37:52,040
Speaker 1: of George Magazine, this of course, after jfk Jr. Had

643
00:37:52,080 --> 00:37:56,080
Speaker 1: passed away, where Donald Trump would appear on the pages.

644
00:37:56,239 --> 00:38:00,400
Speaker 1: This during the throes of the Reform Party convert station

645
00:38:00,440 --> 00:38:04,440
Speaker 1: that was happening in two thousand, when he first flirted

646
00:38:04,480 --> 00:38:09,320
Speaker 1: with running for president of the United States. The secret

647
00:38:09,360 --> 00:38:12,640
Speaker 1: behind Trump's political fling was the cover story of George

648
00:38:12,640 --> 00:38:17,160
Speaker 1: Magazine back in the early months of two thousand, Joining

649
00:38:17,239 --> 00:38:21,120
Speaker 1: us now on the president's re election campaign. Mark Latter,

650
00:38:22,000 --> 00:38:26,360
Speaker 1: who is one of the top communications advisors on the

651
00:38:26,400 --> 00:38:29,920
Speaker 1: president's reelection campaign. Mark, I'm looking at the swing state

652
00:38:30,000 --> 00:38:34,080
Speaker 1: polls and their inching closer and closer together. I don't

653
00:38:34,120 --> 00:38:36,799
Speaker 1: think I think it's because of policy. I think it's

654
00:38:36,800 --> 00:38:40,480
Speaker 1: in terms of the messaging what we saw last cycle

655
00:38:40,560 --> 00:38:44,439
Speaker 1: with healthcare, I'm hearing more of an economic undertones, even

656
00:38:44,560 --> 00:38:48,040
Speaker 1: as more of the top line political water cooler talk

657
00:38:48,239 --> 00:38:51,920
Speaker 1: is about other issues. Well, I don't think you can

658
00:38:51,960 --> 00:38:54,960
Speaker 1: never point to any single issue, Kevin. I mean, I love,

659
00:38:55,040 --> 00:38:56,520
Speaker 1: I know, we love to do that because it makes

660
00:38:56,520 --> 00:38:58,560
Speaker 1: it easier. But yeah, I agree. But I always think

661
00:38:58,600 --> 00:39:01,760
Speaker 1: it's I think it's a combination of of of many factors.

662
00:39:01,800 --> 00:39:04,080
Speaker 1: I think obviously, as we heard in the lead in,

663
00:39:04,440 --> 00:39:06,640
Speaker 1: you have a soaring economy that's coming back. I think

664
00:39:06,640 --> 00:39:09,960
Speaker 1: people feel the optimism, even if they're still waiting to

665
00:39:10,000 --> 00:39:12,240
Speaker 1: get back to work. I think they're anxious and hopeful

666
00:39:12,280 --> 00:39:14,759
Speaker 1: for it. I also think that this law and the

667
00:39:15,239 --> 00:39:17,560
Speaker 1: law in order, which I know is is you know,

668
00:39:17,880 --> 00:39:20,560
Speaker 1: is a broad category. But when people watch on their

669
00:39:20,600 --> 00:39:24,840
Speaker 1: televisions and see what's going on in Portland, Minneapolis, Kenosha, Seattle,

670
00:39:25,520 --> 00:39:28,720
Speaker 1: d C, New York. They just shake their heads. And

671
00:39:28,880 --> 00:39:32,160
Speaker 1: especially when when it's paired with with the message that

672
00:39:32,239 --> 00:39:35,960
Speaker 1: you've heard from the Democrats of being anti police and

673
00:39:35,960 --> 00:39:38,960
Speaker 1: and wanting to in many parts, you know, defund the police,

674
00:39:39,000 --> 00:39:41,799
Speaker 1: cut funding from the police. And I think it's really

675
00:39:41,840 --> 00:39:43,799
Speaker 1: turning a lot of folks who are maybe in the middle,

676
00:39:43,800 --> 00:39:45,719
Speaker 1: maybe even a little bit slightly to the left, just

677
00:39:45,760 --> 00:39:49,000
Speaker 1: going that's too far. Mark, let me pass you on this.

678
00:39:49,239 --> 00:39:52,960
Speaker 1: Talk to the voter who is is really undecided. Talk

679
00:39:53,040 --> 00:39:56,040
Speaker 1: to the voter who is is kind of taken aback

680
00:39:56,440 --> 00:39:59,800
Speaker 1: at the intensity surrounding the political debate on both sides,

681
00:40:00,239 --> 00:40:02,680
Speaker 1: and they look at at your boss, President Trump, and

682
00:40:02,719 --> 00:40:04,759
Speaker 1: they say, you know what, I don't like some of

683
00:40:04,760 --> 00:40:06,880
Speaker 1: the tweets. I don't like some of the racial rhetoric.

684
00:40:06,920 --> 00:40:09,520
Speaker 1: I don't like it. I'm put off by it. Why

685
00:40:09,560 --> 00:40:12,680
Speaker 1: should they vote for to give four more years to

686
00:40:12,680 --> 00:40:16,640
Speaker 1: President Trump? Well, it's there's multiple reasons, but I can

687
00:40:16,960 --> 00:40:19,239
Speaker 1: I'll boil it down, and it just want its security.

688
00:40:19,600 --> 00:40:24,279
Speaker 1: It's economic security because the man built the rocket ship

689
00:40:24,320 --> 00:40:27,440
Speaker 1: economy that saw the lowest unemployment rate for African Americans,

690
00:40:27,440 --> 00:40:30,799
Speaker 1: for Hiltino and Hispanic Americans, the lowest unemployment rate in

691
00:40:30,840 --> 00:40:33,040
Speaker 1: sixty five years for women, and more than half the

692
00:40:33,120 --> 00:40:34,960
Speaker 1: jobs created in those last three and a half years

693
00:40:35,000 --> 00:40:37,960
Speaker 1: went to women. We saw paychecks going up more at

694
00:40:37,960 --> 00:40:40,000
Speaker 1: the for people at the bottom than they were at

695
00:40:40,040 --> 00:40:43,080
Speaker 1: the top. And then it's about security in your own home.

696
00:40:43,200 --> 00:40:45,440
Speaker 1: And when you look at what's going on in this country.

697
00:40:45,480 --> 00:40:48,560
Speaker 1: You heard Joe Biden called police the enemy. Kamala Harris

698
00:40:48,600 --> 00:40:51,920
Speaker 1: compared them to the clan. They've talked about defunding police.

699
00:40:51,960 --> 00:40:54,640
Speaker 1: Joe Biden said, yes, absolutely, he would take money from

700
00:40:54,680 --> 00:40:59,120
Speaker 1: the police. And then even on national security, you look

701
00:40:59,160 --> 00:41:00,719
Speaker 1: at what's going on in a on the world. You know,

702
00:41:00,719 --> 00:41:02,440
Speaker 1: this is the first president who has a start of

703
00:41:02,480 --> 00:41:05,080
Speaker 1: a foreign conflict, uh, you know, in in a in

704
00:41:05,120 --> 00:41:07,640
Speaker 1: a very long time. And we took out the terrorists

705
00:41:08,200 --> 00:41:12,400
Speaker 1: and eliminated ISIS. And Joe Biden was against all of

706
00:41:12,480 --> 00:41:15,680
Speaker 1: these things. And he even argued against President Obama taking

707
00:41:15,719 --> 00:41:18,520
Speaker 1: the array that killed Osama bin Laden. So I think

708
00:41:18,560 --> 00:41:21,719
Speaker 1: you can look at many different issues, and while I

709
00:41:21,760 --> 00:41:24,080
Speaker 1: understand that some people may not always love every single

710
00:41:24,080 --> 00:41:27,000
Speaker 1: tweet or how things are always said, but look at

711
00:41:27,040 --> 00:41:29,560
Speaker 1: the results. All right, Well, I want to I want

712
00:41:29,560 --> 00:41:31,000
Speaker 1: to I wanna talk about something that a lot of

713
00:41:31,000 --> 00:41:33,360
Speaker 1: Americans are focusing in on, and this is this massive

714
00:41:33,400 --> 00:41:37,280
Speaker 1: story that just developed within the last couple of hours.

715
00:41:37,640 --> 00:41:40,800
Speaker 1: The CDC is telling states to get ready for November

716
00:41:40,880 --> 00:41:45,560
Speaker 1: one vaccination distribution. What is the how important of the

717
00:41:45,719 --> 00:41:48,320
Speaker 1: of the of a development is this? Should a vaccine

718
00:41:48,360 --> 00:41:52,320
Speaker 1: be distributed by November one? And what is the president

719
00:41:52,400 --> 00:41:54,720
Speaker 1: going to be doing to make sure that this doesn't

720
00:41:54,760 --> 00:41:59,640
Speaker 1: become a political hot potato because this is just crucial

721
00:42:00,120 --> 00:42:03,640
Speaker 1: to to to security in terms of in terms of

722
00:42:03,680 --> 00:42:06,480
Speaker 1: the country. Yeah, and well, in the first of all,

723
00:42:06,520 --> 00:42:08,560
Speaker 1: obviously I want to as you know this, Kevin I

724
00:42:08,640 --> 00:42:11,000
Speaker 1: worked for the campaigns, like don't speak for the administration

725
00:42:11,320 --> 00:42:13,920
Speaker 1: or any official action that might be taken. I wouldn't

726
00:42:13,920 --> 00:42:16,839
Speaker 1: know that. But look, we've been working towards this goal

727
00:42:16,960 --> 00:42:20,200
Speaker 1: with the creation of Operation Warp Speed. I know it's

728
00:42:20,239 --> 00:42:23,160
Speaker 1: been kind of morphed into the development of the vaccine,

729
00:42:23,440 --> 00:42:25,640
Speaker 1: but don't forget, you know, the President put you know,

730
00:42:26,200 --> 00:42:29,800
Speaker 1: logistics experts from the Department of Defense behind the scenes

731
00:42:30,120 --> 00:42:34,320
Speaker 1: getting everything ready, whether it's just procuring the needles, the syringes,

732
00:42:34,400 --> 00:42:37,839
Speaker 1: the cotton swabs for when we actually have a vaccine.

733
00:42:38,120 --> 00:42:40,799
Speaker 1: So everyone's ready to go to reproduce it, distribute it,

734
00:42:40,840 --> 00:42:43,880
Speaker 1: and get it out there. We've got now three vaccines

735
00:42:43,880 --> 00:42:47,160
Speaker 1: that are in stage three, the final phase three trials

736
00:42:47,200 --> 00:42:50,640
Speaker 1: of human trials, and what we're hearing publicly is that

737
00:42:51,000 --> 00:42:54,120
Speaker 1: the information is very encouraging. But we've also heard in

738
00:42:54,160 --> 00:42:56,239
Speaker 1: the FDA that they're not going to short circuit this thing.

739
00:42:56,640 --> 00:42:59,240
Speaker 1: And while yes, they're going to speed up the decision,

740
00:43:00,160 --> 00:43:02,600
Speaker 1: but they're still going to require all the basic information

741
00:43:02,600 --> 00:43:05,480
Speaker 1: that they always would require. Whether it happens in months

742
00:43:05,520 --> 00:43:08,520
Speaker 1: or it happens in years, everything's gonna be the boxes

743
00:43:08,560 --> 00:43:11,040
Speaker 1: are going to be checked. So that's good news if

744
00:43:11,040 --> 00:43:13,480
Speaker 1: we can get to that point. And I think what

745
00:43:13,520 --> 00:43:16,719
Speaker 1: you're seeing is the government getting people ready to say

746
00:43:16,800 --> 00:43:19,719
Speaker 1: it's coming. We're hopeful. Let's be ready and not be

747
00:43:19,760 --> 00:43:21,560
Speaker 1: caught off guard. Mark latter is on the line. He's

748
00:43:21,600 --> 00:43:24,480
Speaker 1: the director of strategic Communications for the President's reelection campaign.

749
00:43:24,520 --> 00:43:28,200
Speaker 1: He also previously worked with the Vice President, Mike Pence

750
00:43:28,239 --> 00:43:32,880
Speaker 1: and as the top communications officer uh director for for

751
00:43:33,400 --> 00:43:35,359
Speaker 1: the Vice president. You know, let me let me ask

752
00:43:35,400 --> 00:43:37,480
Speaker 1: you this again. And I do this because there are

753
00:43:37,520 --> 00:43:40,360
Speaker 1: so many people that I talked to in the business

754
00:43:40,400 --> 00:43:44,040
Speaker 1: community who again are just looking at the volatility for

755
00:43:44,200 --> 00:43:46,840
Speaker 1: from Biden from Trump and they're trying to just figure

756
00:43:46,880 --> 00:43:49,399
Speaker 1: out how do we get to a sense of com

757
00:43:49,440 --> 00:43:52,080
Speaker 1: And so as you look at the map and Mario

758
00:43:52,160 --> 00:43:55,640
Speaker 1: Parker are our White House reporter said that Minnesota is

759
00:43:56,000 --> 00:43:58,000
Speaker 1: a is a state that you guys are feeling bullish on.

760
00:43:58,400 --> 00:44:01,759
Speaker 1: What are what's your map in terms of the battleground state.

761
00:44:01,800 --> 00:44:04,759
Speaker 1: Put on your Politico cap for a second as we

762
00:44:04,920 --> 00:44:08,279
Speaker 1: dip away from policy. Yeah, well, I mean the map

763
00:44:08,320 --> 00:44:10,600
Speaker 1: hasn't Jay. I mean, we're gonna we want to defend

764
00:44:10,719 --> 00:44:14,160
Speaker 1: and we expect to defend every states president one that

765
00:44:14,200 --> 00:44:17,839
Speaker 1: includes you know, the big three, Michigan and Pennsylvania, Wisconsin.

766
00:44:18,320 --> 00:44:22,320
Speaker 1: But we also came oh so close in Minnesota point

767
00:44:22,400 --> 00:44:26,280
Speaker 1: and a half difference in Minnesota and in New Hampshire

768
00:44:26,280 --> 00:44:30,040
Speaker 1: where there was only twenty six I think votes separating

769
00:44:30,080 --> 00:44:33,120
Speaker 1: the two candidates. I would also not put h I

770
00:44:33,120 --> 00:44:35,920
Speaker 1: would also put Nevada on the table. And I just

771
00:44:35,960 --> 00:44:39,160
Speaker 1: spent three days on a bus tour across Colorado and

772
00:44:39,400 --> 00:44:41,920
Speaker 1: the number of people that I saw out there that

773
00:44:42,000 --> 00:44:45,680
Speaker 1: we're excited that we're working, that we're making the our

774
00:44:45,880 --> 00:44:49,920
Speaker 1: ground game made one quarter the number of phone calls

775
00:44:50,000 --> 00:44:54,759
Speaker 1: last weekend then they did in all of just in

776
00:44:54,840 --> 00:44:59,640
Speaker 1: one weekend. Is that because of the pandemic shifting strategy?

777
00:44:59,760 --> 00:45:02,960
Speaker 1: Or is is that is that because of organization? It's

778
00:45:03,000 --> 00:45:05,279
Speaker 1: because of organization. And they're also knocking on doors too.

779
00:45:05,280 --> 00:45:07,359
Speaker 1: I shouldn't say it's just phone calls, but it's also

780
00:45:07,480 --> 00:45:09,799
Speaker 1: knocking on doors. We've had people on the ground in

781
00:45:09,840 --> 00:45:13,200
Speaker 1: many of these battleground states since two thousand fifteen, definitely

782
00:45:13,239 --> 00:45:18,000
Speaker 1: two thousand, I'm sorry, in two thousand, uh nineteen, Sorry,

783
00:45:18,080 --> 00:45:20,800
Speaker 1: he doesn't nut team. We've had people on the ground

784
00:45:20,840 --> 00:45:23,799
Speaker 1: in many of these top states and they're put We

785
00:45:23,840 --> 00:45:26,160
Speaker 1: have twice as many volunteers as we did in sixteen.

786
00:45:26,239 --> 00:45:28,799
Speaker 1: So all ready I want to get this question because

787
00:45:28,800 --> 00:45:30,319
Speaker 1: they have a middle left. What's the different sistem what

788
00:45:30,400 --> 00:45:32,520
Speaker 1: happened in two thousand and eighteen in the suburbs of

789
00:45:32,560 --> 00:45:36,080
Speaker 1: the blue wave versus what you're sensing now? Quickly, sorry

790
00:45:36,080 --> 00:45:38,160
Speaker 1: that I'm running out of time. Well, first and foremost

791
00:45:38,239 --> 00:45:40,520
Speaker 1: is the presidential election year and the and the electorate

792
00:45:40,600 --> 00:45:43,000
Speaker 1: always looks different. You have much lower turnout in a

793
00:45:43,400 --> 00:45:46,160
Speaker 1: off year election. And I think what we saw in

794
00:45:46,200 --> 00:45:49,080
Speaker 1: the primaries with twenty three of the twenty seven states

795
00:45:49,320 --> 00:45:52,400
Speaker 1: that we're having primaries where President Trump got a record

796
00:45:52,480 --> 00:45:56,560
Speaker 1: number of votes of any incumbent president of either party,

797
00:45:56,960 --> 00:45:59,680
Speaker 1: shows there's a lot of energy. Our ground game works

798
00:45:59,719 --> 00:46:01,480
Speaker 1: are it out to vote work, and there's a lot

799
00:46:01,520 --> 00:46:04,319
Speaker 1: of energy for the president. Mark lauder Greg's catch up.

800
00:46:04,360 --> 00:46:06,920
Speaker 1: Thanks for spending some time with us. He's the director

801
00:46:06,920 --> 00:46:09,719
Speaker 1: of Strategic Communications with the Trump campaign, giving an inside

802
00:46:09,719 --> 00:46:14,080
Speaker 1: look of the political playbook that the Trump campaign is utilizing.

803
00:46:14,160 --> 00:46:16,719
Speaker 1: More nex, we talked foreign policy with Lester Munson. If

804
00:46:16,719 --> 00:46:29,759
Speaker 1: you're listening to Bloomberg, this is Bloomberg's sound on with

805
00:46:29,880 --> 00:46:34,320
Speaker 1: Kevin Surreley on Bloomberg and one all five point seven

806
00:46:34,360 --> 00:46:37,800
Speaker 1: f M h D two. I'm Kevin Sireley, chief Washington

807
00:46:37,840 --> 00:46:41,200
Speaker 1: correspondent for Bloomberg Television and for Bloomberg Radio. Get this headline.

808
00:46:41,239 --> 00:46:44,200
Speaker 1: Jess crossed over the Bloomberg terminal. President Trump is also

809
00:46:44,280 --> 00:46:48,840
Speaker 1: traveling to Shanksville, Pennsylvania, on September eleven. Joe Biden earlier

810
00:46:48,880 --> 00:46:53,400
Speaker 1: today announced he will be attending uh ceremonies in Shanksville, Pennsylvania,

811
00:46:53,400 --> 00:46:57,919
Speaker 1: which is the course is the location of the down

812
00:46:57,920 --> 00:47:01,840
Speaker 1: to plane from September eleventh attack in two and one. Ah,

813
00:47:02,160 --> 00:47:06,719
Speaker 1: so both Biden and Shanks. Uh, Biden and Trump will

814
00:47:06,719 --> 00:47:10,400
Speaker 1: both be there. And we should note that uh, Hillary

815
00:47:10,440 --> 00:47:14,680
Speaker 1: Clinton as well as others, commemorated nine eleven, four years

816
00:47:14,719 --> 00:47:19,279
Speaker 1: ago at an event, um several in New York City.

817
00:47:19,320 --> 00:47:23,239
Speaker 1: So there it is somewhat typical. Um. But anyway, let's

818
00:47:23,239 --> 00:47:26,200
Speaker 1: talk forign policy. Let's talk about whatever is on my

819
00:47:26,280 --> 00:47:30,359
Speaker 1: next guest radar, because he is such a individual who

820
00:47:30,360 --> 00:47:33,360
Speaker 1: knows everything about geo politics. Lester months in principal government

821
00:47:33,360 --> 00:47:35,960
Speaker 1: relations from b GR Group, former foreign policy advisor to

822
00:47:36,000 --> 00:47:39,879
Speaker 1: Senator Bob Corker. Lester, how are you, ken, I'm doing great.

823
00:47:40,680 --> 00:47:43,239
Speaker 1: I cannot complain. You know, I cannot complain. I've got

824
00:47:43,239 --> 00:47:46,000
Speaker 1: a nice hot cup of coffee. It's kind of a

825
00:47:46,000 --> 00:47:49,080
Speaker 1: a bad, weird weather day, but you know, we're getting

826
00:47:49,080 --> 00:47:51,480
Speaker 1: through it. We're getting through it. It's already September. Okay.

827
00:47:51,520 --> 00:47:57,520
Speaker 1: What's on your radar in terms of US China relations? Well, Uh,

828
00:47:57,880 --> 00:48:01,359
Speaker 1: there's a ton of stuff going on. Really. Um, they're

829
00:48:01,400 --> 00:48:05,719
Speaker 1: little blips of news from the South China Sea, from

830
00:48:05,800 --> 00:48:09,880
Speaker 1: islands off the coast of Taiwan that have been in

831
00:48:10,040 --> 00:48:16,000
Speaker 1: dispute between China and Japan. For decades um. There's, of course,

832
00:48:16,440 --> 00:48:20,840
Speaker 1: uh news coming out of Western China involving the wagers

833
00:48:21,040 --> 00:48:26,560
Speaker 1: in Xinjiang Province. Uh, there's troop movements for China along

834
00:48:26,560 --> 00:48:29,640
Speaker 1: the border with India. I think there's there's a lot

835
00:48:29,680 --> 00:48:34,359
Speaker 1: of expectations from folks that China's getting ready to make

836
00:48:34,400 --> 00:48:37,719
Speaker 1: another move. Will it have something to do with Taiwan,

837
00:48:38,400 --> 00:48:40,840
Speaker 1: will be something a little smaller. There's there's just a

838
00:48:40,840 --> 00:48:43,520
Speaker 1: lot of expectations on China right now. And then you

839
00:48:43,600 --> 00:48:46,719
Speaker 1: add on top of it all the things the administration

840
00:48:46,800 --> 00:48:49,919
Speaker 1: is doing in terms of trade, some of which are understandable,

841
00:48:49,960 --> 00:48:53,040
Speaker 1: some of which seem a little more mysterious to me. Uh,

842
00:48:53,080 --> 00:48:57,080
Speaker 1: It's it's quite a mix. So I'm struck by this

843
00:48:57,239 --> 00:49:01,040
Speaker 1: because from a military perspective, it's just seems to be

844
00:49:01,280 --> 00:49:07,560
Speaker 1: escalating action on behalf of of Beijing, with the tensions

845
00:49:07,640 --> 00:49:10,600
Speaker 1: on in the Himalayans on the India as well as

846
00:49:10,719 --> 00:49:15,360
Speaker 1: China border. How is and and then the how is

847
00:49:15,400 --> 00:49:18,040
Speaker 1: that factored into this? These these do I want to

848
00:49:18,120 --> 00:49:21,120
Speaker 1: use the word aggression or these these incidents that have

849
00:49:21,200 --> 00:49:25,279
Speaker 1: occurred from from Beijing. Yeah, I think you can call

850
00:49:25,320 --> 00:49:28,399
Speaker 1: it aggression on China's side. There's not. It's not like

851
00:49:28,800 --> 00:49:30,960
Speaker 1: they're operating in the vacuum. You know, there's politics on

852
00:49:31,000 --> 00:49:33,799
Speaker 1: the India side as well, and you've got a more

853
00:49:34,400 --> 00:49:36,960
Speaker 1: Hindu nationalist government there and then we've had in a while,

854
00:49:37,080 --> 00:49:39,319
Speaker 1: and so they're they've got their own internal politics to

855
00:49:39,360 --> 00:49:43,000
Speaker 1: deal with. But China is definitely testing the system and

856
00:49:43,080 --> 00:49:47,640
Speaker 1: it's making moves and seeing how the world reacts. It's

857
00:49:47,760 --> 00:49:50,080
Speaker 1: very similar to what it did with the virus when

858
00:49:50,640 --> 00:49:54,120
Speaker 1: uh You know, when when COVID nineteen first emerged in Wuhan,

859
00:49:54,840 --> 00:49:57,960
Speaker 1: China wasn't very forthright with the rest of the world,

860
00:49:58,360 --> 00:50:02,279
Speaker 1: um much much to our dismay. What are the consequences

861
00:50:02,320 --> 00:50:04,200
Speaker 1: for China from that? What are the consequence is going

862
00:50:04,239 --> 00:50:07,440
Speaker 1: to be for what it's doing along its border? Within me,

863
00:50:07,520 --> 00:50:08,799
Speaker 1: one of the top squence is going to be in

864
00:50:08,800 --> 00:50:12,399
Speaker 1: the south China see and in um in areas till

865
00:50:12,400 --> 00:50:15,200
Speaker 1: the north of there. They're they're testing, they're seeing how

866
00:50:15,280 --> 00:50:18,520
Speaker 1: far they can go, seeing how the world reacts. Right now,

867
00:50:18,600 --> 00:50:22,319
Speaker 1: the US isn't exactly doing a great job under this

868
00:50:22,400 --> 00:50:25,560
Speaker 1: president of uniting the rest of the world to respond

869
00:50:25,560 --> 00:50:27,719
Speaker 1: to this. So there there's a lot of gaps, there's

870
00:50:27,760 --> 00:50:29,760
Speaker 1: a lot of scenes in the response and they're seeing

871
00:50:29,800 --> 00:50:33,319
Speaker 1: where those are uh as as you would if you

872
00:50:33,400 --> 00:50:36,880
Speaker 1: were a power obsessed cabal like the Chinese Communist Party

873
00:50:37,480 --> 00:50:40,080
Speaker 1: uh And they're and they're gonna take stock of what's

874
00:50:40,080 --> 00:50:42,960
Speaker 1: going on and make their next move. So I want

875
00:50:42,960 --> 00:50:44,640
Speaker 1: to go. I want to say with China just quickly

876
00:50:44,680 --> 00:50:46,719
Speaker 1: for for one more second, just as it relates to

877
00:50:46,719 --> 00:50:50,440
Speaker 1: TikTok and Beijing saying that they don't necessarily want to

878
00:50:50,520 --> 00:50:53,279
Speaker 1: give up the intellectual property, or as the Wall Street

879
00:50:53,360 --> 00:50:55,400
Speaker 1: Journal put it, it's like selling a fancy car with

880
00:50:55,440 --> 00:50:58,160
Speaker 1: a rusted engine earlier today, which I thought was an

881
00:50:58,160 --> 00:51:01,120
Speaker 1: incredibly good analogy. They want to take out the I

882
00:51:01,280 --> 00:51:05,320
Speaker 1: P of TikTok that makes the kids click on or

883
00:51:05,360 --> 00:51:08,040
Speaker 1: shows the kids which videos I guess that that go viral,

884
00:51:08,120 --> 00:51:11,120
Speaker 1: that the mathematical formula behind it. Why is this so important?

885
00:51:11,160 --> 00:51:14,560
Speaker 1: Because this right here is why this matters for companies

886
00:51:14,640 --> 00:51:18,320
Speaker 1: like Microsoft and Walmart that are looking at potentially purchasing TikTok.

887
00:51:18,719 --> 00:51:22,520
Speaker 1: Why is this IP issue so incredibly important as it

888
00:51:22,560 --> 00:51:29,040
Speaker 1: relates to TikTok and China. Well, the Chinese are entirely correct.

889
00:51:29,440 --> 00:51:32,439
Speaker 1: Um the intellectual property at the end of the day

890
00:51:32,600 --> 00:51:37,040
Speaker 1: is the most important asset any any country has these days.

891
00:51:37,120 --> 00:51:40,560
Speaker 1: China knows that they've known that for decades. UH. They've

892
00:51:40,600 --> 00:51:44,240
Speaker 1: done a pretty good job of stealing the intellectual property

893
00:51:44,239 --> 00:51:46,520
Speaker 1: of the United States and other countries over the last

894
00:51:46,560 --> 00:51:50,280
Speaker 1: couple of decades to advance their own economy. They worked

895
00:51:50,400 --> 00:51:53,720
Speaker 1: very well for them. They know the value of intellectual property.

896
00:51:54,320 --> 00:51:57,960
Speaker 1: We become a little more cavalier about it. We're concerned

897
00:51:58,000 --> 00:52:03,160
Speaker 1: about individual rights and privacy UH and things like that.

898
00:52:03,239 --> 00:52:06,560
Speaker 1: We're a little skeptical of big companies that seem to

899
00:52:06,600 --> 00:52:08,520
Speaker 1: be a little wealthier than they should be, you know,

900
00:52:08,600 --> 00:52:10,680
Speaker 1: with some of our tech companies being worth more than

901
00:52:10,719 --> 00:52:13,200
Speaker 1: two trillion dollars. So there's a little bit of a

902
00:52:13,239 --> 00:52:16,120
Speaker 1: culture clash there. I think we need to remember that

903
00:52:16,640 --> 00:52:20,960
Speaker 1: intellectual property is a is a hugely valuable aspect to

904
00:52:21,040 --> 00:52:23,400
Speaker 1: all of the stuff that's going on right now. China

905
00:52:23,480 --> 00:52:25,879
Speaker 1: knows that we need to be reminded of it. So

906
00:52:26,640 --> 00:52:29,240
Speaker 1: it's reciprocity, right, I mean, it comes down to intellectual

907
00:52:29,280 --> 00:52:33,360
Speaker 1: property reciprocity. Why should the Chinese have the ability to

908
00:52:33,480 --> 00:52:37,640
Speaker 1: launch a viral app that everyone sings and dances to

909
00:52:38,480 --> 00:52:42,839
Speaker 1: uh and then and then be able to to keep

910
00:52:42,840 --> 00:52:45,080
Speaker 1: their intellectual property. I mean, but the US not be

911
00:52:45,160 --> 00:52:47,879
Speaker 1: able to go into the Chinese markets and be able

912
00:52:47,880 --> 00:52:50,080
Speaker 1: to do that as well. Why why why, I mean,

913
00:52:50,400 --> 00:52:54,120
Speaker 1: why should that be able to happen? Well, that's that's

914
00:52:54,120 --> 00:52:58,080
Speaker 1: a great question. UM. The administration, to its credit, is

915
00:52:58,160 --> 00:53:00,520
Speaker 1: willing to fight back on these issues. We haven't really

916
00:53:00,520 --> 00:53:03,240
Speaker 1: done that before. This is new is new experience for America.

917
00:53:03,320 --> 00:53:06,120
Speaker 1: We've been willing to cut China a lot of slack

918
00:53:06,160 --> 00:53:09,080
Speaker 1: because we wanted them to do well. They did do well.

919
00:53:09,120 --> 00:53:11,680
Speaker 1: They and in fairness, they lifted hundreds of millions of

920
00:53:11,680 --> 00:53:14,640
Speaker 1: people out of poverty. But now we're seeing the consequences

921
00:53:14,840 --> 00:53:19,239
Speaker 1: of not really a free market system. And UM, at

922
00:53:19,280 --> 00:53:24,319
Speaker 1: the end of the day, Kevin, this works to China's disadvantage. Right,

923
00:53:24,640 --> 00:53:27,440
Speaker 1: we have an open system, we collaborate with other countries.

924
00:53:27,920 --> 00:53:31,400
Speaker 1: We're willing to um uh to work in a in

925
00:53:31,440 --> 00:53:34,920
Speaker 1: a multinational sense. We're not. We don't as jealously guard

926
00:53:35,000 --> 00:53:36,880
Speaker 1: our treasure as others. That's going to help us in

927
00:53:36,880 --> 00:53:38,439
Speaker 1: the long run. China is not going to make any

928
00:53:38,440 --> 00:53:40,160
Speaker 1: friends to him this it's going to help him in

929
00:53:40,160 --> 00:53:42,200
Speaker 1: the short term, but in the long run, this is

930
00:53:42,200 --> 00:53:44,120
Speaker 1: a very bad place for China. Al Right, tell me

931
00:53:44,160 --> 00:53:48,880
Speaker 1: one thing that's on your radar, on my radar, maybe

932
00:53:48,880 --> 00:53:54,040
Speaker 1: not on everyone else's radar, is is a dam being

933
00:53:54,080 --> 00:53:59,080
Speaker 1: built in Ethiopia, the Grand Ethiopian running before you even

934
00:53:59,120 --> 00:54:01,239
Speaker 1: tell me about the day of an Ethiopia. This is

935
00:54:01,239 --> 00:54:05,319
Speaker 1: why Leinster Mudson, he comes on, we get through the all,

936
00:54:05,360 --> 00:54:09,360
Speaker 1: shall we cover everything? And then we go to Ethiopia. Amazing?

937
00:54:09,920 --> 00:54:14,200
Speaker 1: Why should Why should I care about a dam in Ethiopia. So,

938
00:54:14,320 --> 00:54:17,080
Speaker 1: Ethiopia is a country of a hundred million people. It's

939
00:54:17,080 --> 00:54:21,359
Speaker 1: a big grown economy in East Africa. The Nile originates there,

940
00:54:21,400 --> 00:54:24,000
Speaker 1: or at least part of the Nile does. Ethiopia has

941
00:54:24,000 --> 00:54:27,920
Speaker 1: got a huge power deficit. They need electric power. That

942
00:54:28,080 --> 00:54:29,960
Speaker 1: they're building a damn it's going to be the biggest

943
00:54:29,960 --> 00:54:33,359
Speaker 1: in all of Africa. They've built it on the Nile River,

944
00:54:33,440 --> 00:54:37,080
Speaker 1: which of course flows into Egypt. Uh. Egypt is very

945
00:54:37,160 --> 00:54:39,400
Speaker 1: upset by this. They're worried that the flow of the

946
00:54:39,480 --> 00:54:43,439
Speaker 1: Nile will impact their economy. The us UM has been

947
00:54:44,080 --> 00:54:47,040
Speaker 1: the Trump administration has been trying to mediate the dispute

948
00:54:47,120 --> 00:54:51,359
Speaker 1: between Ethiopia and Egypt over this dam. It's not going

949
00:54:51,440 --> 00:54:55,360
Speaker 1: well for Ethiopia. The administration has decided the side with Egypt.

950
00:54:55,440 --> 00:54:57,759
Speaker 1: It's cutting off a big chunk of our foreign ad

951
00:54:57,800 --> 00:55:00,799
Speaker 1: programmed Ethiopia, which I think is a huge mistake to

952
00:55:00,920 --> 00:55:04,719
Speaker 1: pressure them to come to a pro Egypt agreement on

953
00:55:04,840 --> 00:55:07,160
Speaker 1: the damn So that's that's what I'm watching. It could

954
00:55:07,200 --> 00:55:10,760
Speaker 1: really impact lots of people in East Africa. Lester Monson

955
00:55:11,120 --> 00:55:14,920
Speaker 1: Fascinating developments. Lester Monson Principle of Government Relations from b

956
00:55:15,000 --> 00:55:17,960
Speaker 1: GR Group, former foreign policy advisor and sending to Bob Corker. Hey,

957
00:55:17,960 --> 00:55:20,320
Speaker 1: thank you so much, Lester for for coming on and

958
00:55:20,840 --> 00:55:23,680
Speaker 1: talking geopolitics with us. Here's what's on my radar. Bumble

959
00:55:24,520 --> 00:55:27,319
Speaker 1: Bumble could seek seeking an I p O and the

960
00:55:27,719 --> 00:55:32,400
Speaker 1: value could be anywhere from six billion to eight billion dollars.

961
00:55:32,440 --> 00:55:35,560
Speaker 1: Bumble dating app. You're listening to Bloomberg