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Speaker 1: Live from our nation's came this budget thing is going

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Speaker 1: to do nothing space Forts. I still think it's interesting

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Speaker 1: President Trump not playing his cards yet. Headlines Policy and

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Speaker 1: politics colliding Floomberg Sound On, the Insiders, the influencers, the insides.

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Speaker 1: I would rather see a congressional solution. It's part of

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Speaker 1: my DNA. The Senate map in looks a lot different

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Speaker 1: than it looked in. You really have a divide within

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Speaker 1: Team Trump. The present has to do exactly what people

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Speaker 1: send him here to do, which is to get it done.

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Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg

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Speaker 1: and one oh five point seven h D two Breaking

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Speaker 1: news tonight. President Trump's attorneys responding, it's the House Democrats

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Speaker 1: on the impeachment just within the last hour. I'll bring

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Speaker 1: you that letter live from the White House. What they

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Speaker 1: had to say. Meanwhile, job's day, jobs, markets decade, and

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Speaker 1: bang risks fizzling in the less roaring twenties. That's the

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Speaker 1: headline on the Bloomberg terminal, Smashing expectations, booming expectations. The

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Speaker 1: latest on the job payroll gain of two hundred and

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Speaker 1: sixty six thousand jobs added in the last month, all

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Speaker 1: of that, plus the latest on the campaign trail and

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Speaker 1: on the trade front. We begin tonight with serious news

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Speaker 1: reading from the a p an aviation student from Saudi

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Speaker 1: Arabia opened fire in a classroom at the Naval Air

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Speaker 1: Station Pensacola on Friday morning. The Florida Governor said, an

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Speaker 1: attack that left three dead. In addition to the assailant

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Speaker 1: joining me now here live in studio, Ben Chang, He,

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Speaker 1: of course, is the former White House National Security Council

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Speaker 1: Director of Communications. Currently he serves as the Deputy Vice

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Speaker 1: president for Communications and spokesperson for Princeton University. Also with

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Speaker 1: me in studio, Al Weaver, national political reporter at the Hill,

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Speaker 1: and Eli Yoakley, a political reporter for Morning Consult. Ben

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Speaker 1: Saudi aray B has put out a statement saying that

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Speaker 1: they have been in contact with the White House. The

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Speaker 1: President has spoken with Saudi officials regarding this. Twelve people

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Speaker 1: were hurt in this attack, including two sheriff's deputies, according

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Speaker 1: to the Associated Press, who were the first to respond,

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Speaker 1: one of whom killed the shooter. UH And meanwhile, the

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Speaker 1: shooting takes place in one classroom and the shooter used

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Speaker 1: a handgun according to authorities. UH. President Trump declined to

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Speaker 1: say whether the shooting was terrorism related, but currently, let's

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Speaker 1: focus on the breaking news situation. Saudi state media did

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Speaker 1: not immediately report on the shooting, but the kingdom has

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Speaker 1: relied on the US to train the military. Look, our

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Speaker 1: first thought is to the those injured and those UM

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Speaker 1: who responded, and we're grateful that this UM incident has ended.

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Speaker 1: It does, of course bring back memories of UH similar

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Speaker 1: situations and does call to question not only the safeguards

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Speaker 1: we have in place, but or overall relations with the

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Speaker 1: Kingdom of Saudi Rabi. I mean, this is without question,

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Speaker 1: one of the Navy's most historic basis, and this is

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Speaker 1: the second shooting. This is the second shooting at a

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Speaker 1: US naval base this week alone. There was a submarine

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Speaker 1: that was Dr Pearl Harbor and Hawaii were open fire

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Speaker 1: on three civilian employees on Wednesday, killing two before before

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Speaker 1: taking his own life. So take us behind the scenes

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Speaker 1: in terms of what our national security officials in the

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Speaker 1: government right now are doing and military officials are doing

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Speaker 1: UM heading into this weekend absolutely so well. The first

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Speaker 1: thing that that that UM, the National Security Council would

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Speaker 1: do and all the agencies involved is being a heightened

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Speaker 1: state of alert. And so whether you see it or not,

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Speaker 1: whether you're in Washington or outside of Washington, whether or

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Speaker 1: near these bases or in them, UM, extra measures are

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Speaker 1: being taken, Extra precautions are being put in place. UH.

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Speaker 1: What's very important is the messaging that we've seen both

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Speaker 1: from the White House and from the Kingdom of Saudi

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Speaker 1: Arabia that no one is going too far in speculating

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Speaker 1: exactly what happened. UM, there's measured tones. We need to

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Speaker 1: get to the bottom of how this occurred. UH. To

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Speaker 1: be sure, on the domestic side, Department of Homeland Security

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Speaker 1: and others are going to take into account that the

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Speaker 1: fact there are two shootings, to the point you made,

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Speaker 1: that's of grave concern. And we're also going to have

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Speaker 1: to heighten our intelligence efforts around the world, UM and

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Speaker 1: look at vulnerabilities we might have a basis overseas as well.

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Speaker 1: This is a great concern that this happened on the homeland.

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Speaker 1: Politically speaking, Governor Ron de Santis, a Republican. The Florida

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Speaker 1: governor said that he has spoken to President Trump with

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Speaker 1: regards to the Saudi Air Force connection. With regards to

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Speaker 1: the from the White House, the President's tweeting out just

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Speaker 1: this afternoon. Quote, King Salomon of Saudi Arabia just called

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Speaker 1: to express his sincere condolences and give his simp these

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Speaker 1: two the families and friends of the warriors who were

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Speaker 1: killed and wounded in the attack that took place in Pensacola, Florida.

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Speaker 1: The king said that the Saudi people are greatly angered

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Speaker 1: by the barbaric actions of the shooter and that this

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Speaker 1: person in no way, shape or form represents the feelings

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Speaker 1: of the Saudi people who love the American people. So again, folks,

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Speaker 1: this is the second time this week that there's been

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Speaker 1: a shooting, a deadly shooting at a U. S. Navy base.

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Speaker 1: I mean, it is it, it is thought just the

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Speaker 1: news unfortunately, and Kevin, it's you know, look, we're entering

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Speaker 1: the holiday season. Um, we're constantly reminded that, uh, there

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Speaker 1: are people who put their lives on the line here

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Speaker 1: at home and overseas um, and sometimes this is the

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Speaker 1: price that they paid for our for our safety and security.

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Speaker 1: At the same time, so much needs to be done

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Speaker 1: to make sure that we have the safeguards in place,

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Speaker 1: and then we get to the bottom of exactly how

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Speaker 1: this happened. At least three people killed, several injured. This

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Speaker 1: is something that UM, we will have agencies working over

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Speaker 1: time on through the weekend. Mean pivoting now to other

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Speaker 1: developments lie from Capitol Hill, where the White House has

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Speaker 1: sent a letter Eli Yoakley, political reporter from Morning Console,

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Speaker 1: saying that the White House will not participate, will not

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Speaker 1: participate in the impeachment proceedings. What can you tell us, Well,

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Speaker 1: I think it's building Unpresident Trump's perspective on all that

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Speaker 1: that's happened so far. I mean, we've seen them take

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Speaker 1: a pretty strong position against the House Intelligence Committee. I

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Speaker 1: think that's what we're gonna see as this plays out

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Speaker 1: in the rest of the House. We saw some reporting

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Speaker 1: earlier this week about senators saying that the White House

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Speaker 1: wants to take a much heavier role when it comes

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Speaker 1: to the or if it comes to the Senate for

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Speaker 1: a trial. So we'll see how how things change their

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Speaker 1: um somehow, Trump has got to get his message out

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Speaker 1: there that you know, half the public right now says

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Speaker 1: that they support the impeachment of him and removing him

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Speaker 1: from office. This is not moving, but it's not getting

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Speaker 1: any better for him. Hold that thought, I want to

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Speaker 1: dive into the morning Console polls that you guys have

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Speaker 1: this week. I mean, I'm addicted the morning Consults polling.

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Speaker 1: But uh, I almost said um Al Weaver before Al Weaver,

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Speaker 1: national political reporter at the Hill. Al this letter, this

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Speaker 1: letter that was sent out just at four forty pm,

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Speaker 1: I was I was literally reading it on my film

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Speaker 1: and I was prepping for the show. And the White

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Speaker 1: House will not participate in Monday's hearing by the House

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Speaker 1: Judiciary Committee, according to White House counsel Pat Sippoloni. Alright,

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Speaker 1: so Pat says that the impeachment inquiry is a quote

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Speaker 1: unquote abusive power in his letter to Chairman Jerry Nadler.

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Speaker 1: House Democrats have wasted enough of America's time with the charade,

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Speaker 1: Sipiloni rights, and you should end this inquiry now and

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Speaker 1: not waste even more time with additional hearings. Adopting articles

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Speaker 1: of impeachment would be a reckless, abusive power by House deems.

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Speaker 1: I mean, I actually think it's the one thing behind

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Speaker 1: the scenes should they should if there were to exist

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Speaker 1: bipartisan back rooms anymore in in Washington, d C. Where

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Speaker 1: Speaker Pelosi and President Trump would say, yeah, I kind

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Speaker 1: of agree. I kind of do want a fast impeachment

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Speaker 1: process so we can put this whole saga behind us. Well,

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Speaker 1: just one with one of side. I think it's funny

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Speaker 1: that it's a kind of an abusive power off, you know,

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Speaker 1: Sipeloni says that Democrats are doing in abuse power. They're

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Speaker 1: obviously saying the report that Trump is anyway, I think

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Speaker 1: the I think one of the things that's interesting, you know,

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Speaker 1: we we talk about this letter that came out today

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Speaker 1: and one of my couple of my colleagues, Morgan Schalfont

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Speaker 1: and Brett Samuels, had a really good piece yesterday basically

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Speaker 1: talking about how, you know, one of the reason the

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Speaker 1: White House isn't going we're going along with this is

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Speaker 1: because they view this as an illegitimate investigation. They that

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Speaker 1: they don't want to legitimize the thing that they don't

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Speaker 1: you know, find credence in. And there's a reason why

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Speaker 1: they're not or they're not cooperating with this, and I

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Speaker 1: think that's the main reason. And um, you know, it's

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Speaker 1: it's a kind of a gut move on the President's part.

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Speaker 1: That's my opinion, at least that's my take. Um, And

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Speaker 1: you know, we're gonna see where this goes. I don't

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Speaker 1: I don't know if it's gonna help them that they're

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Speaker 1: not playing into it. But you know, this is the

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Speaker 1: least surprising thing as far as I can tell, on

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Speaker 1: the president's end. You know what, you know it was

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Speaker 1: very surprising was last night at the Wizards game, just

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Speaker 1: seeing my sixers completely get destroyed. Everybody was there. It

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Speaker 1: was like, once again, there's more Washington. I'm not trying

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Speaker 1: to knock you, but there's always more Philly fans in

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Speaker 1: a in a Philly Washington matchup in the stadium for

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Speaker 1: whatever reason, maybe it's because we're from Philadelphia, but they

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Speaker 1: were awful. So, I mean, you know, it's been a

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Speaker 1: tough week if you're a Philadelphia sports fan. Coming up

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Speaker 1: much more reaction on Jobs Day panel stays Eli Yoakley Al.

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Speaker 1: We were Ben Chang. Download the Bloomberg su On podcast

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Speaker 1: on Apple, it Tunes and Bloomberg dot com, or by

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Speaker 1: downloading the Bloomberg Business App. You can also find us

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Speaker 1: on Radio dot Com, I Heart Radio, and Spotify. I'm

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Speaker 1: Kevin Sirelli and I'm sorry I was a little bit

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Speaker 1: off Mike when we kicked off the show, but I

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Speaker 1: readjusted you're listening to Bloomberg. You're listening to Bloomberg. Sound

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Speaker 1: On with Kevin Surley on Bloomberg and one oh five

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Speaker 1: point seven f m h D two. I'm Kevin Cirelli,

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Speaker 1: Chief Washington correspondent with Bloomberg Television and Bloomberg Radio. My

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Speaker 1: guests are Al Weaver, national political reporter at the Hill,

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Speaker 1: Eli Yoakley, political reporter from Morning consult and Ben Chang,

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Speaker 1: who was the former White House National Security Council Director

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Speaker 1: of the Communications. And Maddie Doppler. I finally reached her.

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Speaker 1: She's gonna call in its job's day and I can't

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Speaker 1: do jobs day without Maddie Duppler. Uh to to break

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Speaker 1: down everything? All right? Well here to break down everything

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Speaker 1: on the campaign trail is Eli? Look all right? So

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Speaker 1: where did Kings stand for the Democrats as we head

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Speaker 1: into this because people are going after Pee boodh Jedge. Yes, Um,

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Speaker 1: he's kind of been on the rise. Laurence Elizabeth Warren

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Speaker 1: has been falling. And we have this wild card right

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Speaker 1: now about Kamala Harris. We did an interesting study this week.

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Speaker 1: The found that of her five percent support that she

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Speaker 1: had before she dropped out, of the race. It's what

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Speaker 1: about evenly among everybody, doesn't it it's about a wash

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Speaker 1: um they some of them go to Bernie something, go

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Speaker 1: to Warren something, go to Biden, and Buda is just

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Speaker 1: kind of hanging out there. Over the past few months,

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Speaker 1: we've really seen Elizabeth Warren fall. It really started whenever

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Speaker 1: she got into this debate about Medicare for all and

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Speaker 1: health care that has sort of defined her campaign up

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Speaker 1: at this point. And the biggest beneficiary of that we've

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Speaker 1: seen has been Mayor Pete. So this is a real

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Speaker 1: contender that's listened to what Senator Elizabeth moore and had

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Speaker 1: to say today where she went after booted judge uh

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Speaker 1: And about his disclosures from working out working at McKenzie

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Speaker 1: as well as some of his donors. Here's Senator Elizabeth

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Speaker 1: morn open anyone those shouldn't be posed and no one

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Speaker 1: should be left on what kind of promises they make.

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Speaker 1: People have been pulling out big bus, terrible audience. I

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Speaker 1: mean like, I don't know anyway, but if you can

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Speaker 1: make it, if you can make it out. What she

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Speaker 1: said was that, uh, he should he should disclose. Yeah. No,

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Speaker 1: I think the striking thing about Buddha Judge right now

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Speaker 1: is excuse me, ab Elizabeth Warren, is that Uh, throughout

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Speaker 1: her campaign, she's really made it a point not to

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Speaker 1: specifically go after candidates like she hasn't done that until

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Speaker 1: the last month obviously when after Mike Bloomberg, after he

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Speaker 1: got in uh to say he's trying to buy the election,

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Speaker 1: and now right now she's going after Buddha Judge, and

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Speaker 1: I think that's interesting. And then the other thing for

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Speaker 1: Buddha Judge. He's kind of getting on both sides at

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Speaker 1: this point more so than anybody. Progressives are angry on

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Speaker 1: the Biden. He's getting it from Biden saying that he

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Speaker 1: directly he said he stole his men his public option

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Speaker 1: plan earlier this week. So uh, he's starting to get

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Speaker 1: it on both sides of it's a little bit a

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Speaker 1: little bit of space. I'm blanking on which publication, but

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Speaker 1: today it was essentially how it was pretty much like

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Speaker 1: Joe Biden survives despite the Twitter mob and like every

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Speaker 1: single scandal that Twitter has said is going to annihilate

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Speaker 1: Joe Biden. It it really hasn't. Even it has it

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Speaker 1: made a tent. It's because the supporters aren't on Twitter. Well, also,

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Speaker 1: it's because never I'm not going to just go ahead

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Speaker 1: and whenever we look at we've done studies on business issues,

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Speaker 1: and whenever United had a scandal um over over a

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Speaker 1: dog or something, there's a scandal in loving them. And

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Speaker 1: it was a big deal. It's a big deal. Was

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Speaker 1: taking of the Boeing thing go ahead. It was a

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Speaker 1: big deal on Twitter, and the Twitter mobs got really

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Speaker 1: fired up, and then the Twitter things kind of calmed down.

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Speaker 1: But throughout this there brand didn't really take a hit.

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Speaker 1: And it's sort of like the same thing with Biden

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Speaker 1: is he has these Twitter scandals that fire up all

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Speaker 1: the left. Twitter is Twitter is the high school cafeteria

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Speaker 1: where everybody fights and then they have to go to

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Speaker 1: Mr Roper's English class and no one says a word

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Speaker 1: because it's professional. Again, it's a bubble. I mean, it's

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Speaker 1: just people living in their news bubbles. So you think

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Speaker 1: that everything's bad about Joe, take a listen to what

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Speaker 1: John John Carey, former Secretary State campaigning with Joe Biden

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Speaker 1: today out in Cedar Rapids, Iowa, your neck of the woods.

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Speaker 1: Ben Chang not see the rapids Iowa. But John Kerry,

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Speaker 1: take a listen to Princeton's in New Jersey. But I

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Speaker 1: met It's Friday. Take a listen to here to play

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Speaker 1: play the thing. KO. Thank you on each for a

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Speaker 1: long time. But we spent twenty four years together in

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Speaker 1: the United States Senate. We worked together as a team.

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Speaker 1: The only team that's worked more closely than us is

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Speaker 1: Donald Trump and Vladimir Putin. So listen, what we're hearing

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Speaker 1: here is this is the Joe Biden that you know. Uh,

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Speaker 1: he was reliable. Uh, He's the one that can get

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Speaker 1: the machinery of Washington moving to get the results that

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Speaker 1: you need. I think that's the message that Secretary Kerry

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Speaker 1: is delivering that I hear on the trail and then

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Speaker 1: slipping in the don't forget. The more insidious pairings are

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Speaker 1: are the pairings like Puttin and Trump. Alright, alright, so

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Speaker 1: like come in here. I mean this mackenzie stuff. Is

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Speaker 1: it gonna stick with budded judge. I don't know. I

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Speaker 1: don't think so. I mean, that's that's kind of in

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Speaker 1: the weeds. I think, I think it kind of is.

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Speaker 1: But it has the potential to stick because it's it's

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Speaker 1: a double attack in terms of the disclosure but also

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Speaker 1: the African American. I do think people to judge had

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Speaker 1: a strong week with those trio of Obama. Obama endorsements,

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Speaker 1: particularly Reggie Love, because Reggie is an insider, and Reggie

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Speaker 1: can go down to South Carolina not draw crowds. Maybe

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Speaker 1: he could, but but more so, he knows exactly who

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Speaker 1: to talk to in South Carolina, exactly who to talk

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Speaker 1: to in Iowa, in New Hampshire, uh to to maybe

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Speaker 1: give him some some inroads across multiple different constituencies. Look,

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Speaker 1: on paper, May Pete is a strong candidate. He's where

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Speaker 1: the Democratic Party is today. This is not a lefty party.

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Speaker 1: I mean you you pulled Democrats and half of the

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Speaker 1: half of them identify as moderate or conservative there with him.

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Speaker 1: They want somebody who can build on Obama's legacy and

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Speaker 1: expand on it. And that that's his message on the

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Speaker 1: campaign trail and so and to have those folks is

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Speaker 1: very helpful. Um. He does have a challenge with black

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Speaker 1: voters and that's a big part of the Democratic base. UM.

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Speaker 1: And right now they're all going to Joe Biden, all right,

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Speaker 1: coming up, We're gonna talk policy. We're also gonna talk

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Speaker 1: jobs day. Maddy Duppler is gonna call in and break

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Speaker 1: down the LIDST jobs numbers, and I gotta retract something

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Speaker 1: I said. I said it was a rough week for

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Speaker 1: Philadelphia sports fans with the Cowboys lost last night. Download

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Speaker 1: the Bloomberg Sound On podcast on Apple iTunes, a Bloomberg

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Speaker 1: dot Com, or by downloading the Bloomberg Business App. You

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Speaker 1: can also find us on Radio dot Com, I Heart Radio,

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Speaker 1: and Spotify. I'm Kevin Sirelli. You're listening to Bloomberg nine

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Speaker 1: nine one. This is Bloomberg Sound On with Kevin Surreley

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Speaker 1: on Bloomberg and one or five point seven F M

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Speaker 1: H D two. I hate to say it, it doesn't

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Speaker 1: they can look as good. Of course, being a vain person,

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Speaker 1: that's really important to make. It's just like it gives

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Speaker 1: you an orange look. I don't want an orange look.

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Speaker 1: Has anyone noticed? So I'll have to change those bulbs

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Speaker 1: and at least a couple of rooms where I am

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Speaker 1: in the White House. He doesn't want to look orange.

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Speaker 1: President Trump speaking earlier today at the White House about

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Speaker 1: light bulbs, and I that was probably the funniest thing

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Speaker 1: I've heard all week, folks. I'm Kevin's really Chief Washington

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Speaker 1: correspondent from Bloomberg TV and Radio. Ben Shanks here, Ben,

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Speaker 1: you at your at Princeton. Now you're the previous Comms

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Speaker 1: director for the National Security Council, But you do this

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Speaker 1: thing at Princeton for an imprisoned graduate of Princeton. Tell

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Speaker 1: me a where thinks stand. Joe Wang, a graduate student American,

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Speaker 1: was studying researching Persian history UH and in prison three

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Speaker 1: years over three years ago and evan prison in Iran. UH.

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Speaker 1: He has been separated from his family UH and in

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Speaker 1: in um difficult conditions for the past three years. UH,

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Speaker 1: and we continue to advocate for his release. We believe

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Speaker 1: that his detention is unlawful and unwarranted. UH. The United

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Speaker 1: Nations has weighed in, as has the administration, and we

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Speaker 1: continue to hope for his UH speedy return to his family.

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Speaker 1: His young son who's six years old, and his wife

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Speaker 1: UH continue to um UH to not only miss UH

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Speaker 1: their husband and father, but hope for his return as

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Speaker 1: soon as possible. All right, I want to pivot now.

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Speaker 1: That's amazing work, and please keep us updated on that. UH.

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Speaker 1: I want to pivot now to a headline that really

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Speaker 1: grabbed my attention this week. Blame the Financial crisis for

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Speaker 1: more expensive Christmas trees consumers from the Bloomberg terminal. Consumers

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Speaker 1: in the market for a Christmas tree can expect to

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Speaker 1: pay more for this year, as a shortage of Christmas

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Speaker 1: trees has led to higher prices, thanks in part to

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Speaker 1: the lingering effects of the O eight finance financial crisis.

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Speaker 1: The average price, what do you think? Eli Yoakley of

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Speaker 1: a political reporter from Wargning consult And now we've we're

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Speaker 1: gonna have a game right now, national political reporter at

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Speaker 1: the hill. I want you both to tell me what

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Speaker 1: you think the average price per Christmas tree is last

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Speaker 1: year versus two thousand and eight. Where do you hear

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Speaker 1: this um last year? Yeah, well, because we don't know

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Speaker 1: this year's average price, sixty bucks? You think it's sixty

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Speaker 1: bucks for a Christmas tree? What do you think? Uh No, no,

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Speaker 1: not at all. Maddie Douffler's on the line, Maddie Tuppler,

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Speaker 1: I'm gonna ask you the same question, what do you

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Speaker 1: think the average prices for a Christmas tree? Well, Kevin,

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Speaker 1: I will tell you I overpaid because we're trying to

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Speaker 1: get before Thanksgiving, and I think we end up paying

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Speaker 1: like sixty five or seventy bucks for our Christmas. Okay,

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Speaker 1: so the average price for a Christmas tree last year,

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Speaker 1: and that's the most recent data, is seventy eight dollars.

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Speaker 1: Guess what it was in two thousand and eight before

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Speaker 1: the financial collapse. You're ready for this, Okay, we can't scream.

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Speaker 1: Oh my gosh, that hurt my years people. I apologize

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Speaker 1: on the half of al weever for screaming into the microphone. Huh.

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Speaker 1: All right, well, let's get some more financial data from

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Speaker 1: our good friend Maddie Duppler. Because the jobs numbers came

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Speaker 1: out two hundred and sixty six thousand jobs added in

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Speaker 1: the month of November, and that's a huge deal. Break

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Speaker 1: it down for us, Maddie, do your thing. Yeah, so

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Speaker 1: this is wild. The expectation was somewhere around one eight

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Speaker 1: thousand jobs added in the month of November. Of course,

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Speaker 1: as of every month, there's always some kind of peculiarities

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Speaker 1: you have to be aware of. People were wondering how

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Speaker 1: much the GM strike would add on some tracks. From

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Speaker 1: these numbers, well, as you said, two d five thousand

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Speaker 1: jobs or add in month November, only about four n

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Speaker 1: fifty thousand of those r d M workers coming back

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Speaker 1: to work. That means that this job, regardless of this

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Speaker 1: or the number regardless of the strike, still blew those

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Speaker 1: expectations out of the water. Now, I mean blew the

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Speaker 1: expectations out of the water, folks, I mean no one

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Speaker 1: was expecting this, because if you've been paying attention, you

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Speaker 1: knew that there was a slowdown in these numbers monthly.

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Speaker 1: A lot of observers were saying these means, you know,

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Speaker 1: even though the acting into care that we're going into

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Speaker 1: a recession, because jobs strows this flowing well. Now, even

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Speaker 1: with this good jobs number today, the last two months

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Speaker 1: were actually updated upwards as well, So that means we've

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Speaker 1: got a three month moving average of two hundred and

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Speaker 1: five thousand jobs added per month, which is still way

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Speaker 1: above what you need to keep place with population growth.

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Speaker 1: So the question, of course is are we at full employment?

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Speaker 1: Is this the end of the run. Every time we

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Speaker 1: have a good jobs number, the question is being asked,

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Speaker 1: will this be the last good number we see? Now?

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Speaker 1: We don't know. But the peculiar part is, you know,

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Speaker 1: if you look at the financial reserve, you look at

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Speaker 1: c v O, all of the bean counters, who who

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Speaker 1: who pay attention to these numbers, thought that full employment

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Speaker 1: but a heck of a lot worse than does right now.

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Speaker 1: They were saying, at this point in the expansion, full

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Speaker 1: employment would still have about four point six percent unemployment,

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Speaker 1: and of course the number of the unemployment rate dropped

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Speaker 1: to three point five percent today, So we don't know

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Speaker 1: where all these jobs are coming from. An enigma to

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Speaker 1: be this late in the expansion and having these kinds

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Speaker 1: of job numbers. But it is Nick, Well, I don't

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Speaker 1: slowing to the stay on the line because I want

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Speaker 1: to play for you. What Larry cud Love, the President's

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Speaker 1: chief economic adviser, had to say on Bloomberg Television earlier

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Speaker 1: today to my colleague Jonathan Pharaoh, take a listen to Cudlow.

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Speaker 1: Here is the jobs numbers are actually getting better in

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Speaker 1: recent months. And we scored two hundred and sixty six

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Speaker 1: this time around. Plus you got forty one thousand revision

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Speaker 1: so from the two prior months, so that actually gets

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Speaker 1: you about three hundred thousand. My point is, despite I

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Speaker 1: don't know a certain amount of pessimism, uh, the economy

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Speaker 1: is outperforming expectations. Economic policies from the president are working.

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Speaker 1: And Maddie just final question, before I let you go

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Speaker 1: and thank you so much, I said, I said, it

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Speaker 1: wouldn't be job today without Maudie Duppler. Um. I wanted

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Speaker 1: to ask you, uh, just something that you said about

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Speaker 1: whether or not this can be sustained. The uncertainty, the

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Speaker 1: largest uncertainty right now from market watchers as well as

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Speaker 1: geopolitical observers, relates to trade policy, especially not even just

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Speaker 1: the the U. S. China travelations, though that's the dominant uncertainty,

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Speaker 1: but the multi trade front issues now Europe. This week

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Speaker 1: was back in in the in the in the calculation,

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Speaker 1: I would my question to you would be, should U

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Speaker 1: S m c A likely get ratified and then early

428
00:23:19,600 --> 00:23:23,560
Speaker 1: next year or December fifteenth, that there be US China

429
00:23:23,880 --> 00:23:29,120
Speaker 1: stability and there's a stabilizing force in trade policy that

430
00:23:29,200 --> 00:23:33,520
Speaker 1: could benefit the economy in the first quarter of next

431
00:23:33,640 --> 00:23:38,960
Speaker 1: year for and and politically speaking, would benefit the status

432
00:23:39,040 --> 00:23:42,439
Speaker 1: quo environment. Yeah, yeah, and so here will be the

433
00:23:42,480 --> 00:23:45,320
Speaker 1: interesting thing to watch next year. You're absolutely right, Kevin.

434
00:23:45,600 --> 00:23:47,960
Speaker 1: And the question is how does this plan into trade tensions,

435
00:23:48,000 --> 00:23:50,200
Speaker 1: because remember where I just said, we don't know where

436
00:23:50,240 --> 00:23:52,240
Speaker 1: these jobs are coming from, the fact that people keep

437
00:23:52,240 --> 00:23:54,359
Speaker 1: coming out of the woodwork and are able to find

438
00:23:54,400 --> 00:23:57,560
Speaker 1: work is really really an astounding factor at this point.

439
00:23:57,560 --> 00:23:59,040
Speaker 1: So the question is if you get U, S M

440
00:23:59,080 --> 00:24:00,880
Speaker 1: C A Paths, which is to create a hundred eighty

441
00:24:00,880 --> 00:24:03,439
Speaker 1: thousand jobs, if you get us trying to trade at

442
00:24:03,480 --> 00:24:07,520
Speaker 1: tensions to ease, which up until this earlier, till the summer,

443
00:24:07,920 --> 00:24:10,320
Speaker 1: firms were saying US trying to trade was a problem

444
00:24:10,400 --> 00:24:12,800
Speaker 1: for them, but the bigger problem was finding qualified workers.

445
00:24:12,840 --> 00:24:16,320
Speaker 1: So those two huge economic benefits to the American economy.

446
00:24:16,480 --> 00:24:18,080
Speaker 1: What that's going to do is create a lot of jobs.

447
00:24:18,119 --> 00:24:19,840
Speaker 1: The question is where are we going to get workers

448
00:24:19,840 --> 00:24:22,560
Speaker 1: to still that? So yes, it will certainly look good

449
00:24:23,000 --> 00:24:25,240
Speaker 1: in a lot of these economic reflections, but it will

450
00:24:25,280 --> 00:24:27,560
Speaker 1: also create pressure on firms that we're already saying it

451
00:24:27,640 --> 00:24:29,640
Speaker 1: was difficult for them to find workers to begin with.

452
00:24:29,920 --> 00:24:33,040
Speaker 1: So the question will be what public policy allows us

453
00:24:33,080 --> 00:24:36,120
Speaker 1: to keep that keep that turn going in a way

454
00:24:36,400 --> 00:24:39,719
Speaker 1: that doesn't disadvantage firm who need those workers when they

455
00:24:39,720 --> 00:24:41,600
Speaker 1: have so much demand and they don't know where to

456
00:24:41,640 --> 00:24:44,080
Speaker 1: find people to sell those jobs. So smart, Mattie Douppler,

457
00:24:44,160 --> 00:24:46,560
Speaker 1: have a great weekend. Thanks for calling in. You appreciate it,

458
00:24:46,600 --> 00:24:49,239
Speaker 1: and I'm sorry you over your over paid on your

459
00:24:49,280 --> 00:24:52,080
Speaker 1: Christmas tree. Me too. But it smells great, makes my

460
00:24:52,119 --> 00:24:53,919
Speaker 1: house fell great. It's a little bit of Okay, I'm

461
00:24:53,960 --> 00:24:56,480
Speaker 1: gonna I'm gonna totally out myself right now. I've got

462
00:24:56,480 --> 00:25:00,320
Speaker 1: a fake tree, but it's up, it's decorated. I know.

463
00:25:00,640 --> 00:25:03,359
Speaker 1: Coming up much more from the panel. What's on their radar?

464
00:25:03,520 --> 00:25:13,320
Speaker 1: I'm Kevin Cirelli. You're listening to Bloomberg One. You're listening

465
00:25:13,359 --> 00:25:17,919
Speaker 1: to Bloomberg Sound On with Kevin Surrele on Bloomberg and

466
00:25:18,000 --> 00:25:20,200
Speaker 1: one oh five point seven F M h D two.

467
00:25:20,920 --> 00:25:23,879
Speaker 1: I'm Kevin Sirelli, Chief Ashington correspondent for Bloomberg Television and

468
00:25:23,920 --> 00:25:27,320
Speaker 1: Bloomberg Radio. Just to catch everyone up on the breaking

469
00:25:27,320 --> 00:25:31,280
Speaker 1: news tonight, that we are following two major stories. Another

470
00:25:31,400 --> 00:25:35,920
Speaker 1: shooting in Florida at a naval base. Earlier this afternoon,

471
00:25:35,960 --> 00:25:39,399
Speaker 1: an aviation student from Saudi Arabia opened fire in a

472
00:25:39,480 --> 00:25:44,080
Speaker 1: classroom at the Naval Air Station Pensacola and attack the

473
00:25:44,119 --> 00:25:47,119
Speaker 1: Saudi government quickly condemned, and that the US officials are

474
00:25:47,160 --> 00:25:52,399
Speaker 1: investigating for possible links to terrorism. Remember this is the

475
00:25:52,520 --> 00:25:56,960
Speaker 1: second This is the second shooting this week at a

476
00:25:57,080 --> 00:26:01,200
Speaker 1: US naval base. Uh Here with me in studio. Al Weaver,

477
00:26:01,400 --> 00:26:05,000
Speaker 1: national political reporter at the Hill, Eli Yokally political reporter

478
00:26:05,080 --> 00:26:08,320
Speaker 1: from Morning consul, and Ben Chang, who previously was the

479
00:26:08,359 --> 00:26:12,399
Speaker 1: Director of Communications at the National Security Council. Then, what

480
00:26:12,400 --> 00:26:17,840
Speaker 1: what do these shootings mean for US Saudi relations? So Kevin,

481
00:26:18,000 --> 00:26:21,960
Speaker 1: sorry your Microsoft go ahead, Kevin, thanks for asking my

482
00:26:21,960 --> 00:26:24,960
Speaker 1: My first thought, my biggest concern, after just our hearts

483
00:26:25,000 --> 00:26:27,680
Speaker 1: going out to the families affected and those injured and killed,

484
00:26:28,240 --> 00:26:31,040
Speaker 1: is what's happening in the situation room right now, in particular,

485
00:26:31,280 --> 00:26:35,000
Speaker 1: what's happening amongst our intelligence agencies. Something so critical right now,

486
00:26:35,040 --> 00:26:37,840
Speaker 1: in the first hours and days after this sort of

487
00:26:37,880 --> 00:26:41,520
Speaker 1: incident in Pensacola, is how strong are the channels we

488
00:26:41,560 --> 00:26:44,160
Speaker 1: have with our intelligence counterparts in the Kingdom of Saudi Arabia.

489
00:26:44,160 --> 00:26:47,800
Speaker 1: And my concern, my worry is that those relationships are strained,

490
00:26:48,320 --> 00:26:51,879
Speaker 1: uh post Jamaica shogi, and that um, they're being tested

491
00:26:51,960 --> 00:26:54,600
Speaker 1: right now, and so we need to hope that are

492
00:26:55,000 --> 00:26:58,119
Speaker 1: are our counterparts and intelligence were able to speak with

493
00:26:58,160 --> 00:27:00,520
Speaker 1: each other and get to the bottom of what happened

494
00:27:00,680 --> 00:27:02,440
Speaker 1: so we can vent in the future. The White House

495
00:27:02,480 --> 00:27:05,880
Speaker 1: saying that the President has spoken directly with King Mohammed

496
00:27:06,000 --> 00:27:09,560
Speaker 1: and Salmon of Saudi of Rabia. The other big story tonight,

497
00:27:09,600 --> 00:27:11,960
Speaker 1: of course, that we're following, is that the White House

498
00:27:12,040 --> 00:27:17,399
Speaker 1: says that they will not participate in the impeachment inquiry hearing.

499
00:27:18,200 --> 00:27:22,080
Speaker 1: There's another one on the House Judiciary Committee scheduled for Monday,

500
00:27:22,160 --> 00:27:25,440
Speaker 1: So the White House will not be sending attorneys to

501
00:27:25,760 --> 00:27:29,760
Speaker 1: the hearing scheduled on Monday. That according to a letter

502
00:27:29,800 --> 00:27:32,879
Speaker 1: from White House Council Patsa Poloni that was sent to

503
00:27:32,920 --> 00:27:36,159
Speaker 1: Speaker of the House Nancy Pelosi. We're following all of

504
00:27:36,200 --> 00:27:39,160
Speaker 1: these developments, and now it's time for what else we're

505
00:27:39,160 --> 00:27:43,240
Speaker 1: following with what's on the panel's radar. Eli, I will

506
00:27:43,280 --> 00:27:45,360
Speaker 1: start with you, what is on your radar? Well, I'm

507
00:27:45,359 --> 00:27:47,840
Speaker 1: gonna watching impeachment and seeing a public support moves. The

508
00:27:48,760 --> 00:27:52,040
Speaker 1: one time we've seen public support moves significantly was when

509
00:27:52,119 --> 00:27:55,240
Speaker 1: Nancy Pelosi came out and announcer support for the impeachment inquiry.

510
00:27:55,320 --> 00:27:57,440
Speaker 1: So I'm curious to see if things will change. Which

511
00:27:57,480 --> 00:28:00,840
Speaker 1: direction it went up. It went up dramatically um whenever

512
00:28:00,880 --> 00:28:03,080
Speaker 1: she came out and support the impeachment inquiry. Since then,

513
00:28:03,119 --> 00:28:05,320
Speaker 1: it's been flat. We just released strump State by state

514
00:28:05,320 --> 00:28:07,560
Speaker 1: approval ratings this week and in three seven states that

515
00:28:07,640 --> 00:28:11,000
Speaker 1: went unchanged since the impeachment inquiry, I mean, and the

516
00:28:11,040 --> 00:28:16,400
Speaker 1: economic number, I mean, the president is enjoying some pretty

517
00:28:16,560 --> 00:28:20,280
Speaker 1: good economic indicators. Two hundred and sixties six thousand jobs

518
00:28:20,280 --> 00:28:23,520
Speaker 1: added in the in the last in the last month

519
00:28:23,520 --> 00:28:26,440
Speaker 1: according to the job numbers today. Number when voters is

520
00:28:26,480 --> 00:28:29,720
Speaker 1: the economy still And I think it was playbook that

521
00:28:29,760 --> 00:28:32,080
Speaker 1: had it was Jaken and they pointed out that any

522
00:28:32,080 --> 00:28:35,920
Speaker 1: other president with those kinds of economic indicators would be

523
00:28:36,200 --> 00:28:40,280
Speaker 1: smooth sailing to re election. But the current dynamics are

524
00:28:40,280 --> 00:28:42,880
Speaker 1: so polarized. Republicans are fired up behind the touching you

525
00:28:42,960 --> 00:28:46,640
Speaker 1: meat mentioned polarization, UM. And this poll of like a

526
00:28:46,720 --> 00:28:49,880
Speaker 1: hundred and fifty thousand voters in November, we've found the

527
00:28:49,960 --> 00:28:53,160
Speaker 1: highest share of Republican voters saying they strongly approved of

528
00:28:53,240 --> 00:28:57,000
Speaker 1: him that we've got throughout his presidency. And so he's

529
00:28:57,000 --> 00:29:00,000
Speaker 1: really fired up his space. They're all rallying behind him. Um.

530
00:29:00,200 --> 00:29:02,160
Speaker 1: Everything else has been a pretty flat. Ever, what's on

531
00:29:02,200 --> 00:29:05,240
Speaker 1: your radar besides the eagles and the giants? I don't

532
00:29:05,240 --> 00:29:08,640
Speaker 1: want that to be on my radar. Crost faith zero

533
00:29:08,800 --> 00:29:11,960
Speaker 1: faith by me too. I have zero faith in them

534
00:29:12,000 --> 00:29:15,200
Speaker 1: as well. But I but I publicly say I have faith. Man,

535
00:29:15,240 --> 00:29:16,880
Speaker 1: I don't want to watch them Monday. But we'll say

536
00:29:16,960 --> 00:29:18,920
Speaker 1: that's not on my radar. What is on my radars?

537
00:29:18,960 --> 00:29:22,000
Speaker 1: Big two weeks on Capitol Hill, you've been outside of impeachment. Uh,

538
00:29:22,280 --> 00:29:23,640
Speaker 1: there has to be a spending deal that has to

539
00:29:23,680 --> 00:29:27,720
Speaker 1: get through. Uh. Your front funding runs out. UH, and

540
00:29:27,760 --> 00:29:29,560
Speaker 1: we're gonna see what happens on that end. I'm not

541
00:29:29,600 --> 00:29:31,560
Speaker 1: sure if I mean, they're talking about a CR that's

542
00:29:31,560 --> 00:29:33,400
Speaker 1: going to go through for a couple of months at

543
00:29:33,480 --> 00:29:37,320
Speaker 1: least through UH into into January. But we're really not

544
00:29:37,360 --> 00:29:39,000
Speaker 1: sure what's gonna happen on there. Mean, you never know

545
00:29:39,080 --> 00:29:41,280
Speaker 1: what the president, especially after last year we had a

546
00:29:41,280 --> 00:29:45,320
Speaker 1: thirty five days shutdown. UH, and impeach. You can throw

547
00:29:45,440 --> 00:29:48,760
Speaker 1: one wrench into that thing, you can't. The wrench is impeachment.

548
00:29:48,840 --> 00:29:52,720
Speaker 1: You can't. You know, the wrenches is a border walls

549
00:29:53,320 --> 00:29:55,840
Speaker 1: the other wrench. Okay, so you've got a border ball.

550
00:29:56,240 --> 00:29:58,120
Speaker 1: It's like a bad joke. A border ball and an

551
00:29:58,160 --> 00:30:02,720
Speaker 1: impeachment walk into a CR. What could go wrong? We

552
00:30:02,760 --> 00:30:05,400
Speaker 1: will find out if the government gets shut down. UH.

553
00:30:05,560 --> 00:30:08,280
Speaker 1: That's yes, we have not spent nearly enough time on

554
00:30:08,320 --> 00:30:11,200
Speaker 1: this program talking about the potential shutdown because of all

555
00:30:11,240 --> 00:30:13,360
Speaker 1: of the other developments. But I promise you, folks, we

556
00:30:13,400 --> 00:30:16,320
Speaker 1: will be carefully no. But you know, but it's such

557
00:30:16,320 --> 00:30:18,560
Speaker 1: an important story, these shutdowns, no matter which side of

558
00:30:18,560 --> 00:30:21,760
Speaker 1: the aisle you're on, especially for Washington, d C, Northern

559
00:30:21,840 --> 00:30:25,120
Speaker 1: Virginia at Baltimore. You know the economic impact that that

560
00:30:25,160 --> 00:30:28,960
Speaker 1: has on small businesses, especially around the holidays. It really

561
00:30:29,400 --> 00:30:34,600
Speaker 1: gets me angry because because it's it's just games, games

562
00:30:34,640 --> 00:30:36,160
Speaker 1: that no I know, and I'm not honest, so I

563
00:30:36,200 --> 00:30:39,560
Speaker 1: know my talent really soapbox. But it's you know, we've

564
00:30:39,600 --> 00:30:41,960
Speaker 1: all been doing this for how many years where you

565
00:30:42,040 --> 00:30:44,680
Speaker 1: cover this nonsense and you know who gets I'm gonna

566
00:30:44,680 --> 00:30:47,800
Speaker 1: watch you know who gets hit and punched in the gut.

567
00:30:47,920 --> 00:30:51,120
Speaker 1: It's it's the folks who are going to work who

568
00:30:51,120 --> 00:30:53,960
Speaker 1: have to get a paycheck late, and that is not right.

569
00:30:54,040 --> 00:30:55,680
Speaker 1: I was one of those back in the day and

570
00:30:55,720 --> 00:30:57,880
Speaker 1: also native Washington I and so I agree with both

571
00:30:57,920 --> 00:31:00,360
Speaker 1: your points. Yeah, so here we go again, folks, right bench.

572
00:31:01,480 --> 00:31:04,640
Speaker 1: Sticking with national security, I would say North Korea, what

573
00:31:04,720 --> 00:31:07,240
Speaker 1: I would say is you use the high school cafeteria

574
00:31:07,440 --> 00:31:10,440
Speaker 1: analogy earlier. Uh, if all the kids are in the cafeteria,

575
00:31:10,480 --> 00:31:13,400
Speaker 1: who's out in the playground putting firecrackers and frogs? That

576
00:31:13,600 --> 00:31:17,440
Speaker 1: can that's the dear leader. That's North Korea. And we

577
00:31:17,480 --> 00:31:19,680
Speaker 1: need to keep an eye on the figure out in

578
00:31:19,760 --> 00:31:23,760
Speaker 1: the in the playground blowing stuff up. And um the

579
00:31:24,600 --> 00:31:29,320
Speaker 1: Christmas gift that uh North Koreama give us this war

580
00:31:29,560 --> 00:31:33,760
Speaker 1: of nicknames Dotard versus rocketman. Look between this and the

581
00:31:33,800 --> 00:31:38,440
Speaker 1: intelligence concern around the Pencacola shooting reminds us of the

582
00:31:38,840 --> 00:31:42,840
Speaker 1: value of career intelligence officer's career foreign service officers. In

583
00:31:42,960 --> 00:31:45,960
Speaker 1: light of what Julia Often the g g Q wrote

584
00:31:46,000 --> 00:31:48,480
Speaker 1: this week, um is great concern about the state of

585
00:31:48,480 --> 00:31:53,400
Speaker 1: our institutions, from diplomacy to intelligence. You're gonna apologize. I

586
00:31:53,440 --> 00:31:56,440
Speaker 1: will apologize as well. I got very excited about that.

587
00:31:56,760 --> 00:32:00,360
Speaker 1: All right, Well, okay, you know what's you don't you

588
00:32:00,400 --> 00:32:02,840
Speaker 1: know what kind of talk that is. That's that's toilet talk.

589
00:32:03,040 --> 00:32:09,600
Speaker 1: And that is to go with your analogies were done, buddy,

590
00:32:10,400 --> 00:32:13,760
Speaker 1: because now he's gonna get in trouble. keV Trump orders

591
00:32:13,840 --> 00:32:18,040
Speaker 1: toilet rule review saying people flush ten times. Take a

592
00:32:18,080 --> 00:32:20,400
Speaker 1: listen to what President Trump had to say about the

593
00:32:20,440 --> 00:32:22,880
Speaker 1: E p A earlier today at the White House, people

594
00:32:22,880 --> 00:32:27,400
Speaker 1: are flushing toilets ten times fifteen times as opposed to once,

595
00:32:27,920 --> 00:32:31,320
Speaker 1: they end up using more water. So E p A

596
00:32:31,360 --> 00:32:35,000
Speaker 1: is looking at that very strongly at my suggestion. The

597
00:32:35,040 --> 00:32:37,720
Speaker 1: President on Friday said he ordered a federal review of

598
00:32:37,800 --> 00:32:42,760
Speaker 1: water efficiency standards in bathroom fixtures and complained that people

599
00:32:42,760 --> 00:32:45,720
Speaker 1: are flushing too many times. As we just heard, the

600
00:32:46,560 --> 00:32:48,960
Speaker 1: President said it was common I'm not making this up.

601
00:32:49,240 --> 00:32:52,040
Speaker 1: The President said it was common sense to review standards

602
00:32:52,080 --> 00:32:55,680
Speaker 1: he said resulted in showers with water quietly dripping out

603
00:32:55,720 --> 00:33:00,240
Speaker 1: in toilets that end up using more water. Um, so

604
00:33:00,320 --> 00:33:02,840
Speaker 1: that's what I just you know, today it was a

605
00:33:02,880 --> 00:33:06,360
Speaker 1: weird newsday. ELI was strange. I wonder how the wonderful

606
00:33:06,400 --> 00:33:08,720
Speaker 1: how that came up? Is that like a White House problems?

607
00:33:09,480 --> 00:33:11,720
Speaker 1: How many people telling him that I don't want to know.

608
00:33:12,240 --> 00:33:13,440
Speaker 1: I don't want to know, and I'm not going to

609
00:33:13,480 --> 00:33:16,920
Speaker 1: talk about what else is all my uh you know

610
00:33:16,960 --> 00:33:19,080
Speaker 1: what else is on my radar? I I'm on vacation

611
00:33:19,200 --> 00:33:22,520
Speaker 1: Tuesday through Friday of next week, so I will I

612
00:33:22,560 --> 00:33:24,480
Speaker 1: don't know who's feeling in for me, but I um

613
00:33:24,800 --> 00:33:28,960
Speaker 1: on the show. I am very excited and I'm gonna

614
00:33:28,960 --> 00:33:31,120
Speaker 1: watch the Irishman and I'm gonna be rooting for the Eagles,

615
00:33:31,320 --> 00:33:33,160
Speaker 1: and but I will be here on Monday. But have

616
00:33:33,200 --> 00:33:35,400
Speaker 1: a great weekend everybody. Thank you, as always for listening.

617
00:33:35,400 --> 00:33:37,680
Speaker 1: I have a ton of gratitude for your listening. I'm

618
00:33:37,760 --> 00:33:39,600
Speaker 1: Kevin Severely. You're listening to Bloomberg