1 00:00:00,720 --> 00:00:05,479 Speaker 1: Why from our nations? How do we reopen this economy? 2 00:00:05,600 --> 00:00:08,720 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,800 --> 00:00:11,800 Speaker 1: does this do for the United States relationship with China? 4 00:00:11,960 --> 00:00:16,919 Speaker 1: Bloomberg Sound on, the Insiders, the influencers, the insides. We're 5 00:00:16,920 --> 00:00:20,119 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:20,239 --> 00:00:23,760 Speaker 1: never before. You're looking at seveny Kennedy for different vectores. 7 00:00:23,840 --> 00:00:26,560 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,600 --> 00:00:30,760 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin's 9 00:00:30,920 --> 00:00:35,000 Speaker 1: relate on Bloomberg and one oh five point seven f 10 00:00:35,159 --> 00:00:38,960 Speaker 1: m HD two count down to the first presidential debate? 11 00:00:39,840 --> 00:00:41,640 Speaker 1: Can you believe it's only a couple of days away? 12 00:00:41,840 --> 00:00:45,440 Speaker 1: Plus stocks whipsaw as Trader's Way, odds of a stimulus, 13 00:00:45,800 --> 00:00:48,320 Speaker 1: what's going on with the stimulus? All of that, plus 14 00:00:48,320 --> 00:00:51,880 Speaker 1: Democrats crafting a new fiscal stimulus bill. We've got a 15 00:00:51,920 --> 00:00:54,800 Speaker 1: lot to get through. President Trump refusing to commit to 16 00:00:54,840 --> 00:00:58,680 Speaker 1: a peaceful power peaceful power transfer post election. All that, 17 00:00:58,960 --> 00:01:01,800 Speaker 1: you believe you We're a couple of days away from 18 00:01:01,840 --> 00:01:05,119 Speaker 1: the first presidential debate coming up. We're gonna check in 19 00:01:05,160 --> 00:01:09,240 Speaker 1: with the lawmaker down and in Florida. Uh, just another 20 00:01:09,280 --> 00:01:13,280 Speaker 1: battleground state. Yesterday we we dipped into a former governor 21 00:01:13,840 --> 00:01:18,600 Speaker 1: of Arizona, another key battleground state, Cham Brewer. And these 22 00:01:18,600 --> 00:01:20,840 Speaker 1: battleground states, I mean, the polls are just up and down, 23 00:01:20,920 --> 00:01:22,600 Speaker 1: up and down. Every day I wake up, I check 24 00:01:22,640 --> 00:01:24,440 Speaker 1: Morning Consult. It's one of the many things I read 25 00:01:24,440 --> 00:01:26,680 Speaker 1: every morning. But Morning Consult, you know, I checked their 26 00:01:26,680 --> 00:01:29,399 Speaker 1: polls and whatnot, and they've been really ahead of what 27 00:01:29,520 --> 00:01:31,320 Speaker 1: I think is one of the most important stories. And 28 00:01:31,400 --> 00:01:34,400 Speaker 1: Lisa Bramo wits on Bloomberg Surveillance with Tom Keene and 29 00:01:34,440 --> 00:01:37,440 Speaker 1: Jonathan Farrell always asked me about it, the shy Trump voters, 30 00:01:37,920 --> 00:01:40,080 Speaker 1: the shy Trump voters. And let me tell you something, folks, 31 00:01:40,400 --> 00:01:42,200 Speaker 1: I'm related to some of them. I come from a 32 00:01:42,280 --> 00:01:45,399 Speaker 1: very politically diverse family, so I know it's real, but 33 00:01:45,520 --> 00:01:49,120 Speaker 1: it's hard to quantify. It's hard for the political scientists 34 00:01:49,120 --> 00:01:54,560 Speaker 1: to quantify the shy Trump voters in Arizona, in Florida, 35 00:01:54,640 --> 00:01:58,480 Speaker 1: in Pennsylvania. That's why I am thrilled to welcome to 36 00:01:58,520 --> 00:02:02,600 Speaker 1: the program. Dr wild Drop He's a PhD. Kyle Dropped. 37 00:02:02,640 --> 00:02:07,120 Speaker 1: He's co founder and chief research officer of Morning Consult, Kyle, 38 00:02:07,640 --> 00:02:11,320 Speaker 1: Welcome to the program. You've released a white paper about 39 00:02:11,360 --> 00:02:14,720 Speaker 1: the shy Trump voters. It's it's brilliant. It's brilliant. Tell 40 00:02:14,800 --> 00:02:18,000 Speaker 1: us what, tell us what you found? Thanks so much, 41 00:02:18,080 --> 00:02:22,080 Speaker 1: Kevin Well. We've been tracking the possible existence of shike 42 00:02:22,080 --> 00:02:27,480 Speaker 1: Trump voters for two presidential cycles. Now. In late we 43 00:02:27,560 --> 00:02:31,120 Speaker 1: looked at thousands of Republican primary voters and found that 44 00:02:31,720 --> 00:02:36,119 Speaker 1: then candidate Trump did better anonymously online than he did 45 00:02:36,120 --> 00:02:41,639 Speaker 1: on the phone. Then in late right before the presidential election, 46 00:02:42,120 --> 00:02:44,840 Speaker 1: we repeated it and we found that there was no 47 00:02:45,000 --> 00:02:50,280 Speaker 1: overall facts that is uh then then President Uh. Then 48 00:02:50,520 --> 00:02:54,280 Speaker 1: then candidate uh Trump did about as well on phone 49 00:02:54,320 --> 00:02:57,640 Speaker 1: now was online. And fast forward to today, four years later, 50 00:02:57,840 --> 00:03:02,560 Speaker 1: we interviewed about voters and we ask them the exact 51 00:03:02,639 --> 00:03:06,040 Speaker 1: same questions on phone and online, and we found that 52 00:03:06,680 --> 00:03:09,560 Speaker 1: President Trump and Vice President buy and do equally well 53 00:03:09,600 --> 00:03:12,520 Speaker 1: on phone and online. And this suggests that there are 54 00:03:12,840 --> 00:03:16,760 Speaker 1: few shy Trump voters in the current electorate. When we're 55 00:03:16,760 --> 00:03:20,680 Speaker 1: looking nationally now, there's some interesting follow up findings when 56 00:03:20,680 --> 00:03:24,680 Speaker 1: you look at income and certainly many adults answer questions 57 00:03:24,960 --> 00:03:29,799 Speaker 1: either on the phone with others versus online anonymously differently 58 00:03:30,040 --> 00:03:34,480 Speaker 1: on matters like discrimination or race, or views towards the police, 59 00:03:34,520 --> 00:03:39,400 Speaker 1: say testers. So so this is interesting because when we 60 00:03:39,400 --> 00:03:43,160 Speaker 1: look at the data set of online polls versus the 61 00:03:43,200 --> 00:03:49,000 Speaker 1: phone polls, it's it's really interesting as it relates to 62 00:03:49,560 --> 00:03:52,200 Speaker 1: if people are embarrassed to say that there's a candidate 63 00:03:52,240 --> 00:03:57,000 Speaker 1: that they're voting for. What did you find on that regard? Oh, 64 00:03:57,080 --> 00:03:59,200 Speaker 1: of course, And that's a great question. I know that 65 00:03:59,440 --> 00:04:01,640 Speaker 1: if I zoom bud a little bit. We've been doing 66 00:04:01,680 --> 00:04:07,200 Speaker 1: about interviews every day nationally in our political tracking, and 67 00:04:07,240 --> 00:04:10,240 Speaker 1: so every day nationally and in most of the key states, 68 00:04:10,440 --> 00:04:14,240 Speaker 1: we're asking that head to head question on Biden and Trump. 69 00:04:14,440 --> 00:04:17,160 Speaker 1: And I would say the most common question asked question 70 00:04:17,279 --> 00:04:20,320 Speaker 1: I've been getting asked is regularly whether there are hidden 71 00:04:20,400 --> 00:04:23,919 Speaker 1: or shy Trump type voters. And you know, the results 72 00:04:23,920 --> 00:04:28,039 Speaker 1: in our study are are pretty conclusive. Vice President Biden 73 00:04:28,400 --> 00:04:31,920 Speaker 1: has a similar lead regardless of whether you ask people 74 00:04:32,000 --> 00:04:35,000 Speaker 1: on the phone or online, it looks the same, you know, 75 00:04:35,080 --> 00:04:38,800 Speaker 1: anywhere from eight to ten points nationally. Now we are 76 00:04:38,880 --> 00:04:43,240 Speaker 1: seeing that adults in households that earned seventy k or more, 77 00:04:43,640 --> 00:04:45,279 Speaker 1: there does seem to be a little bit of a 78 00:04:45,320 --> 00:04:48,599 Speaker 1: difference for example, Vice President Biden does better on the 79 00:04:48,600 --> 00:04:51,880 Speaker 1: phone among these more well to do adults than he 80 00:04:51,960 --> 00:04:55,040 Speaker 1: does online in our finding a couple of reasons that 81 00:04:55,360 --> 00:04:58,120 Speaker 1: I might suggest that, but it could be the more 82 00:04:58,200 --> 00:05:01,040 Speaker 1: well to do people are socializing with people who might 83 00:05:01,080 --> 00:05:04,359 Speaker 1: be more pro U Biden. I would also highlight that 84 00:05:04,960 --> 00:05:08,400 Speaker 1: maybe the most striking finding of the study is how 85 00:05:08,520 --> 00:05:12,000 Speaker 1: large differences can be when you're asking somebody about a 86 00:05:12,080 --> 00:05:14,960 Speaker 1: question in public or with a person, then when you're 87 00:05:15,120 --> 00:05:19,040 Speaker 1: asking somebody online. For example, we found that voters were 88 00:05:19,040 --> 00:05:22,520 Speaker 1: about ten points more likely to say there's discrimination against 89 00:05:23,240 --> 00:05:27,799 Speaker 1: Hispanic Americans on the phone versus online, and similarly about 90 00:05:27,800 --> 00:05:32,159 Speaker 1: ten percent more likely to say there's discrimination against Black Americans, 91 00:05:32,200 --> 00:05:35,560 Speaker 1: and uh twenty points more likely to say there's discrimination 92 00:05:35,600 --> 00:05:38,920 Speaker 1: against Jewish Americans. Why is that? Why do you think 93 00:05:38,960 --> 00:05:40,240 Speaker 1: that is? I mean, what is the what is the 94 00:05:40,279 --> 00:05:42,760 Speaker 1: social what do the social scientists tell us about that? 95 00:05:42,880 --> 00:05:45,239 Speaker 1: Dr Caryle's drop, he's co founder and chief research officer. 96 00:05:45,360 --> 00:05:47,760 Speaker 1: More than consult He's on the line, Kyle, why is that? 97 00:05:47,800 --> 00:05:50,120 Speaker 1: Why do you think that is well at all? It 98 00:05:50,160 --> 00:05:53,440 Speaker 1: all boils down to something they call social desirability bias. 99 00:05:53,440 --> 00:05:56,679 Speaker 1: Now you can social let's let's way this bears repeating 100 00:05:57,080 --> 00:06:04,039 Speaker 1: social desirability biased, social desirability bias. Okay, let's pay attention, folks. 101 00:06:04,120 --> 00:06:07,320 Speaker 1: Is this is important? Go ahead, Kyle, Okay. So sometimes 102 00:06:07,360 --> 00:06:10,400 Speaker 1: there's a distinction between what you have in your mind, 103 00:06:10,680 --> 00:06:13,640 Speaker 1: your true view, and what you may say to somebody else, 104 00:06:13,960 --> 00:06:17,800 Speaker 1: and social desirability bias. Is this tendency for people to 105 00:06:18,000 --> 00:06:23,000 Speaker 1: state socially acceptable or more popular answers when they asked 106 00:06:23,000 --> 00:06:25,599 Speaker 1: a question rather than their true view. We see it 107 00:06:25,640 --> 00:06:27,640 Speaker 1: in all cases. If you ask somebody hawks and they 108 00:06:27,680 --> 00:06:30,920 Speaker 1: go to the gym, whether they're watching the local news 109 00:06:31,400 --> 00:06:34,280 Speaker 1: each night, in fact, even sometimes whether they're going to vote. 110 00:06:34,400 --> 00:06:36,760 Speaker 1: Things that people expect you to do or that maybe 111 00:06:36,760 --> 00:06:40,040 Speaker 1: good citizens do. People are going to overreport whether they 112 00:06:40,040 --> 00:06:42,880 Speaker 1: do those things when they're asked in public, they're asked 113 00:06:42,880 --> 00:06:46,600 Speaker 1: in front of friends or people. Now you know, I'm 114 00:06:46,640 --> 00:06:50,120 Speaker 1: learning control. We're interviewing about twenty people every day around 115 00:06:50,120 --> 00:06:52,240 Speaker 1: the globe, and almost all the interviews were doing our 116 00:06:52,320 --> 00:06:56,440 Speaker 1: online and anonymous, and we we securely believe that we 117 00:06:56,520 --> 00:06:59,159 Speaker 1: overcome these sort of biases because people are able to 118 00:06:59,160 --> 00:07:03,479 Speaker 1: provide their to authentic views and a private sat in 119 00:07:03,520 --> 00:07:06,320 Speaker 1: a private setting so you know, I'm kind of closed 120 00:07:06,360 --> 00:07:08,840 Speaker 1: every by saying, the more you can take to reduce 121 00:07:08,960 --> 00:07:12,560 Speaker 1: uncertainty about the questions that you're asking, the can be 122 00:07:12,640 --> 00:07:15,000 Speaker 1: in the more confidence we have in the info dot 123 00:07:15,040 --> 00:07:19,880 Speaker 1: work collecting. You know, I just gotta say, social desirability bias. 124 00:07:20,240 --> 00:07:22,280 Speaker 1: We don't have that in Delco, Kyle, where I grew up. 125 00:07:22,320 --> 00:07:24,240 Speaker 1: We just tell it like it is. We say it 126 00:07:24,280 --> 00:07:26,440 Speaker 1: like it is. You know, we just say if we 127 00:07:26,520 --> 00:07:28,400 Speaker 1: did something. We know. This is why people love me 128 00:07:28,440 --> 00:07:31,440 Speaker 1: and load me is because I you know, I I say, 129 00:07:31,720 --> 00:07:33,680 Speaker 1: we say what's on our minds. You know, it's a 130 00:07:33,680 --> 00:07:37,480 Speaker 1: bunch of Philadelphia. You should do your polls in Delaware County, Kyle. 131 00:07:37,720 --> 00:07:39,880 Speaker 1: And I'm telling you you should do a focus group 132 00:07:39,880 --> 00:07:42,160 Speaker 1: on Delco because I'm telling you you will be we 133 00:07:42,200 --> 00:07:45,360 Speaker 1: will be off the charts, off the charts. Okay, Kyle. 134 00:07:45,400 --> 00:07:47,480 Speaker 1: Before I let you go, I got two minutes of Uh, 135 00:07:47,640 --> 00:07:51,520 Speaker 1: tell us about right now? We're China factors into this 136 00:07:51,560 --> 00:07:54,520 Speaker 1: because I always talked to your to your employees about 137 00:07:54,560 --> 00:07:56,880 Speaker 1: this and your and your colleagues just about how this 138 00:07:57,040 --> 00:07:59,120 Speaker 1: really is a non part is an issue. The Americans 139 00:07:59,120 --> 00:08:03,160 Speaker 1: are very, very distrusting of China. Both on the left 140 00:08:03,160 --> 00:08:06,440 Speaker 1: and on the right. What do we know? Oh, this 141 00:08:06,720 --> 00:08:09,280 Speaker 1: is a central question to what we're tracking. Let me 142 00:08:09,280 --> 00:08:12,200 Speaker 1: mention a few things. So over the past few years. 143 00:08:12,440 --> 00:08:14,360 Speaker 1: If you look a few years back, China is not 144 00:08:14,480 --> 00:08:17,400 Speaker 1: popular among Americans. About half of Americans had a negative 145 00:08:17,480 --> 00:08:21,040 Speaker 1: view of China. However, today about haven and ten Americans 146 00:08:21,080 --> 00:08:24,840 Speaker 1: have a negative view of China, and even more Republicans 147 00:08:24,880 --> 00:08:27,640 Speaker 1: and even more Republicans in fact have an unfair real vice. 148 00:08:27,840 --> 00:08:31,960 Speaker 1: Now if you look even broader, So we're doing daily 149 00:08:32,040 --> 00:08:35,079 Speaker 1: tracking and about fifteen countries around the world, and if 150 00:08:35,080 --> 00:08:37,840 Speaker 1: you ask as adults in each of these countries whether 151 00:08:37,880 --> 00:08:40,720 Speaker 1: they have a positive or negative view of each other's country, 152 00:08:41,120 --> 00:08:44,640 Speaker 1: China in fact does the worst among people in Australia, 153 00:08:44,920 --> 00:08:48,560 Speaker 1: among people in Japan, among people in South Korea, even 154 00:08:48,600 --> 00:08:52,959 Speaker 1: among adults in India. So China and not just in 155 00:08:53,000 --> 00:08:57,360 Speaker 1: the United States, but globally has a more polarizing reputation. 156 00:08:57,559 --> 00:08:59,439 Speaker 1: And so you know, this is just one question do 157 00:08:59,480 --> 00:09:02,240 Speaker 1: you have a havative or negative view about um China? 158 00:09:02,280 --> 00:09:06,280 Speaker 1: But it is certainly infusing uh the debate and force 159 00:09:06,400 --> 00:09:09,120 Speaker 1: tracking not just what people think of countries, but what 160 00:09:09,200 --> 00:09:11,520 Speaker 1: people think of you know, the key companies that are 161 00:09:11,559 --> 00:09:14,560 Speaker 1: associated with China, and of course all of the issues 162 00:09:14,600 --> 00:09:18,760 Speaker 1: associated with it, whether it's privacye. Your data security or 163 00:09:18,800 --> 00:09:23,120 Speaker 1: intellectual property consideration, human rights abuses with the Wagers, human 164 00:09:23,200 --> 00:09:25,640 Speaker 1: rights abuses with the Wagers, or how they kicked out 165 00:09:25,640 --> 00:09:29,320 Speaker 1: Australian a news anchor, or the expansion on the Indian 166 00:09:29,400 --> 00:09:31,600 Speaker 1: China border and the Himalayans. I mean, there's a lot 167 00:09:31,600 --> 00:09:34,400 Speaker 1: of reasons people are mistrusting in China, but Kyle, we 168 00:09:34,480 --> 00:09:37,480 Speaker 1: gotta leave it there. I really appreciate your insights. Kyle. 169 00:09:37,679 --> 00:09:39,719 Speaker 1: Thank you so much, seriously, Kyle, thank you so much 170 00:09:39,720 --> 00:09:43,280 Speaker 1: for coming on. Appreciate the time as well. I'm telling you, folks, 171 00:09:43,280 --> 00:09:45,439 Speaker 1: if you've got to read the Morning Console, all their 172 00:09:45,520 --> 00:09:47,880 Speaker 1: data is just so on point. Kyle Droppings, co founder 173 00:09:47,880 --> 00:09:50,880 Speaker 1: and chief research officer of The Morning Consult. They do 174 00:09:51,000 --> 00:09:53,880 Speaker 1: just brilliant, brilliant work. Read this white paper on the 175 00:09:53,960 --> 00:09:56,400 Speaker 1: shy Trump voters if you have a minute, it's about 176 00:09:56,440 --> 00:09:58,880 Speaker 1: thirteen pages and uh it's you can find it online 177 00:09:58,880 --> 00:10:02,040 Speaker 1: and Morning Consult I'll drop everybody coming up. We check 178 00:10:02,080 --> 00:10:05,080 Speaker 1: in on the markets, what's going on in the markets today, uh, 179 00:10:05,200 --> 00:10:08,160 Speaker 1: and the need for more for fiscal stimulus. They want 180 00:10:08,160 --> 00:10:10,800 Speaker 1: more fiscal stimulus. Everybody wants it. Are they gonna get it? 181 00:10:11,000 --> 00:10:13,680 Speaker 1: Democrats are back at the negotiating table. We'll dive into 182 00:10:13,679 --> 00:10:15,960 Speaker 1: that as well. Download the Bloomberg Sound On podcast on 183 00:10:16,000 --> 00:10:18,559 Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the 184 00:10:18,679 --> 00:10:20,880 Speaker 1: Bloomberg Business App. You can also find me on Radio 185 00:10:20,960 --> 00:10:24,040 Speaker 1: dot com, I Heart Radio and Spotify. My name is 186 00:10:24,120 --> 00:10:26,840 Speaker 1: Kevin Cirelli. I had a great breakfast at the Hey 187 00:10:26,920 --> 00:10:29,160 Speaker 1: Adams today, so I feel like I'm gonna have a 188 00:10:29,200 --> 00:10:50,840 Speaker 1: good day. You're listening to Bloomberg. My name is Kevin CEREALI. 189 00:10:51,360 --> 00:10:54,720 Speaker 1: I'm the chief Ashington correspondent for Bloomberg Television and for 190 00:10:54,800 --> 00:11:01,600 Speaker 1: Bloomberg Radio. Happy birthday Bruce Springsteen, the Boss. It's his birthday. 191 00:11:01,920 --> 00:11:03,920 Speaker 1: We love Bruce Springsteen on the show. I told Marty 192 00:11:03,960 --> 00:11:08,280 Speaker 1: Shanker that in my Bloomberg interview for this job. Uh anyway, 193 00:11:08,320 --> 00:11:11,400 Speaker 1: Happy birthday to Bruce Springsteen. Michael Reagan's on the line. 194 00:11:11,640 --> 00:11:14,600 Speaker 1: He is a senior editor and lead blogger for Bloomberg 195 00:11:14,840 --> 00:11:20,160 Speaker 1: Markets Live. Michael, Are you a Bruce Springsteen fan? Absolutely? Kevin. 196 00:11:20,160 --> 00:11:22,559 Speaker 1: I'm a Jersey guy now born in Pennsylvania, but a 197 00:11:22,920 --> 00:11:25,160 Speaker 1: Jersey guy, But I hate to do this to you, buddy. 198 00:11:25,400 --> 00:11:29,960 Speaker 1: His birthday was yesterday. No, hey, correction, correction. I have 199 00:11:30,080 --> 00:11:33,319 Speaker 1: to issue a correction. I'm like the markets. I'm entering 200 00:11:33,400 --> 00:11:36,120 Speaker 1: correction territory. See I'm making jokes about the markets. Look 201 00:11:36,120 --> 00:11:39,599 Speaker 1: at that Bloomberg. I uhh, yeah, my bad. It was 202 00:11:39,600 --> 00:11:42,160 Speaker 1: his birthday yesterday. Go ahead, what's your favorite Bruce song? 203 00:11:43,120 --> 00:11:44,839 Speaker 1: It should be a birthday week as far as I 204 00:11:45,880 --> 00:11:49,000 Speaker 1: think we could support that here in Jersey. But yeah, 205 00:11:49,240 --> 00:11:52,440 Speaker 1: as to point out correction in the stock market almost, 206 00:11:52,520 --> 00:11:56,720 Speaker 1: I mean, we're flirting with that dropped from the last 207 00:11:56,760 --> 00:12:00,880 Speaker 1: record on September two for the sp five hundred, and 208 00:12:01,080 --> 00:12:03,640 Speaker 1: it makes me wonder if that level. Um there's a 209 00:12:03,640 --> 00:12:06,520 Speaker 1: few sort of technical levels. I hate to where people 210 00:12:06,520 --> 00:12:08,840 Speaker 1: to death talking about them, but they're kind of important 211 00:12:08,840 --> 00:12:10,960 Speaker 1: when looking looking at the market today, I think that 212 00:12:11,040 --> 00:12:14,200 Speaker 1: tempercent drop is one of them. Also, it's right near 213 00:12:14,520 --> 00:12:18,720 Speaker 1: that two level in the spire that's where we closed 214 00:12:18,800 --> 00:12:22,319 Speaker 1: at the end of And you also have a hundred 215 00:12:22,400 --> 00:12:24,640 Speaker 1: day moving average right around there. So if you're at 216 00:12:24,640 --> 00:12:27,800 Speaker 1: all those three together, I suspect there is some buy 217 00:12:28,080 --> 00:12:31,440 Speaker 1: orders clustered at summer all of those levels that might 218 00:12:32,120 --> 00:12:36,480 Speaker 1: help explain why the market stabilized a bit today. But 219 00:12:36,640 --> 00:12:39,000 Speaker 1: at the same time, there was a lot of news 220 00:12:39,040 --> 00:12:42,679 Speaker 1: at Your World that people were talking about um Closey 221 00:12:42,840 --> 00:12:47,880 Speaker 1: and Stephen manusing getting back to the negotiating table. Um. 222 00:12:47,920 --> 00:12:50,160 Speaker 1: I think that that drip feed of news kind of 223 00:12:50,440 --> 00:12:52,760 Speaker 1: turned later in the day when we learned that the 224 00:12:52,880 --> 00:12:55,840 Speaker 1: Democrats were now still looking at at two point four 225 00:12:55,960 --> 00:12:59,040 Speaker 1: trillion dollars stimulus package. In other words, it doesn't sound 226 00:12:59,080 --> 00:13:02,080 Speaker 1: like they're giving uh much of an inch to the 227 00:13:02,080 --> 00:13:05,440 Speaker 1: Republicans who want a much smaller package. So I think 228 00:13:05,440 --> 00:13:07,520 Speaker 1: the market is kind of kind of really trying to 229 00:13:07,559 --> 00:13:10,520 Speaker 1: absorb all that news and digested and not really sure 230 00:13:10,960 --> 00:13:13,280 Speaker 1: what's the make of it, not really sure whether or 231 00:13:13,280 --> 00:13:16,480 Speaker 1: not we're actually closer to any sort of stimulu steal 232 00:13:16,800 --> 00:13:19,040 Speaker 1: and a lack of that semiliar sels Really I kicked 233 00:13:19,080 --> 00:13:22,160 Speaker 1: the story of September. Why we've seen this almost temper 234 00:13:22,160 --> 00:13:24,880 Speaker 1: sent dropped since the beginning of September, Well, you just 235 00:13:24,960 --> 00:13:27,080 Speaker 1: hit it up so well, right, I mean, I look 236 00:13:27,120 --> 00:13:28,840 Speaker 1: at it. You got to like go through the daily 237 00:13:28,920 --> 00:13:32,320 Speaker 1: checklist in terms of what the volatility and investors are 238 00:13:32,400 --> 00:13:35,800 Speaker 1: are really eyeing up. Let's start with Larry Cudlow because 239 00:13:35,800 --> 00:13:38,280 Speaker 1: the stock market is recovering from losses earlier in the 240 00:13:38,360 --> 00:13:43,280 Speaker 1: day traders initially reacting to Thursday's unemployment report. You've got 241 00:13:43,280 --> 00:13:47,200 Speaker 1: the Labor Department reporting that eight hundred and seventy thousand 242 00:13:47,280 --> 00:13:50,880 Speaker 1: Americans filed for unemployment benefits for the first time last week. 243 00:13:50,920 --> 00:13:53,760 Speaker 1: That's slightly higher than was expected, and it's a small 244 00:13:53,840 --> 00:13:57,400 Speaker 1: increase over the prior week. I still, I still cringe 245 00:13:57,440 --> 00:13:59,440 Speaker 1: every time I have to do this once a week 246 00:13:59,480 --> 00:14:03,040 Speaker 1: because it's it's still above the peak levels in in 247 00:14:03,080 --> 00:14:05,319 Speaker 1: the two thousand and eight crash, which is just alarming 248 00:14:05,320 --> 00:14:08,199 Speaker 1: to anyone who you know, all of us who experience 249 00:14:08,520 --> 00:14:10,600 Speaker 1: the two thousand and eight crash and and and the 250 00:14:10,640 --> 00:14:13,319 Speaker 1: impacts that that had on families. So it's just these 251 00:14:13,400 --> 00:14:16,439 Speaker 1: numbers are almost they are unreal. They feel unreal, but 252 00:14:16,480 --> 00:14:18,760 Speaker 1: they're very real. Take a listen to what Larry Cudlo 253 00:14:18,800 --> 00:14:20,960 Speaker 1: had to say about that the latest round of economic 254 00:14:21,040 --> 00:14:23,920 Speaker 1: indicators on that here is I'm in the v shade 255 00:14:23,920 --> 00:14:27,240 Speaker 1: recovery camp. I think all the recent data, we had 256 00:14:27,320 --> 00:14:30,360 Speaker 1: very good home sales numbers again, actually new home sales strong, 257 00:14:30,760 --> 00:14:33,560 Speaker 1: and then there too ago existing home sales was strong. 258 00:14:33,880 --> 00:14:36,880 Speaker 1: That's another one of the vs. But the home sales, 259 00:14:36,920 --> 00:14:40,560 Speaker 1: an I mean, aren't the homesales strongs? Because aren't the 260 00:14:40,640 --> 00:14:44,360 Speaker 1: home sales strong because of the low interest rates? You 261 00:14:44,400 --> 00:14:45,840 Speaker 1: know what I mean. I mean, it's almost like there's 262 00:14:45,840 --> 00:14:48,000 Speaker 1: a shmore export and and it's it's like a puzzle 263 00:14:48,000 --> 00:14:51,920 Speaker 1: that we gotta put together. Right. Absolutely, the ultra low 264 00:14:52,000 --> 00:14:55,000 Speaker 1: iNeST rates, but also that bottle there, I think of activity. 265 00:14:55,480 --> 00:14:57,840 Speaker 1: When most of the economy was shut down earlier than 266 00:14:57,840 --> 00:15:00,360 Speaker 1: the year, we're still working through sort of at pent 267 00:15:00,480 --> 00:15:03,480 Speaker 1: up real estate action that that would have happened earlier 268 00:15:03,520 --> 00:15:05,800 Speaker 1: in the year. But you make a great point about 269 00:15:05,840 --> 00:15:08,880 Speaker 1: the jobless claimed, Kevin. I mean, people had sort of 270 00:15:08,920 --> 00:15:12,680 Speaker 1: been looking at these numbers over the last month. Was 271 00:15:12,840 --> 00:15:16,960 Speaker 1: very much a glass full approach, saying, well, they're they're 272 00:15:17,000 --> 00:15:19,680 Speaker 1: moving in the right direction. They're they're back below a million, 273 00:15:20,200 --> 00:15:22,560 Speaker 1: a little bit of an upside surprise today, Like you said, 274 00:15:22,560 --> 00:15:27,480 Speaker 1: eight seventy thousand versus the survey expected eight hundred forty thousand, 275 00:15:27,880 --> 00:15:31,280 Speaker 1: So at this point, not moving in the right direction anymore. 276 00:15:31,320 --> 00:15:35,840 Speaker 1: And I think it does sort of underline, uh put 277 00:15:35,840 --> 00:15:38,960 Speaker 1: an underline over the idea that the market is starting 278 00:15:39,000 --> 00:15:42,600 Speaker 1: to really how so a bit of a tantrum over 279 00:15:42,640 --> 00:15:45,400 Speaker 1: the lack of progress on this fiscal stimulus deal. I 280 00:15:45,400 --> 00:15:48,760 Speaker 1: mean it was sort of surprising the watch over the summer. 281 00:15:48,760 --> 00:15:51,320 Speaker 1: They seem to be very optimistic that that that the 282 00:15:51,360 --> 00:15:54,360 Speaker 1: deal would be made. Then progress comes back in early 283 00:15:54,400 --> 00:15:57,480 Speaker 1: September and it's just silar to be seen. And I 284 00:15:57,520 --> 00:16:00,560 Speaker 1: think that's really coming home to Ruth right now. Well, 285 00:16:00,760 --> 00:16:02,800 Speaker 1: Michael Reagan's on the line. He's senior editor and lead 286 00:16:02,800 --> 00:16:05,360 Speaker 1: blogger for Bloomberg Markets Live. I mean, he's just no 287 00:16:05,440 --> 00:16:08,320 Speaker 1: one's more brilliant than Michael. You know. I keep saying this, 288 00:16:08,520 --> 00:16:12,160 Speaker 1: Jonathan Farrell. I there's gonna be a stimulus. No one 289 00:16:12,240 --> 00:16:15,040 Speaker 1: that I talked to, whether it's Matt Gates or or 290 00:16:15,080 --> 00:16:20,280 Speaker 1: the the Democratic Socialist staffers, they are all saying there's 291 00:16:20,280 --> 00:16:22,480 Speaker 1: going to be stimulus. It's just a question of when. 292 00:16:22,720 --> 00:16:24,720 Speaker 1: And it's just and and the when here the gold 293 00:16:24,720 --> 00:16:30,920 Speaker 1: marks this week and March literally and so the centrist wanted, 294 00:16:31,040 --> 00:16:33,360 Speaker 1: the far right ones that the far left wants it. 295 00:16:33,360 --> 00:16:35,520 Speaker 1: It's just there's a lot of moving pieces. But I 296 00:16:35,560 --> 00:16:38,680 Speaker 1: want to play for you because some of the Fed officials, 297 00:16:38,680 --> 00:16:41,600 Speaker 1: because they're all calling all calling for more stimulus to 298 00:16:41,640 --> 00:16:44,320 Speaker 1: your point. And we've heard from the FED Chairman j Powell, 299 00:16:44,720 --> 00:16:47,640 Speaker 1: Richard Clara, and Robert Kaplan, James Bullard, I mean, all 300 00:16:47,640 --> 00:16:49,800 Speaker 1: of them on where the U. S economy stands, and 301 00:16:49,880 --> 00:16:52,840 Speaker 1: both Chairman Powell and Vice chair McClaren are urging more 302 00:16:52,880 --> 00:16:56,240 Speaker 1: fiscal stimulus. Well, Kaplan and Bullard are saying no, which 303 00:16:56,240 --> 00:16:57,720 Speaker 1: is kind of nuance, but I want to get your 304 00:16:57,720 --> 00:16:59,360 Speaker 1: take on that as well. Anyway, let's listen to this 305 00:16:59,400 --> 00:17:04,040 Speaker 1: sad string. About eleven million jobs have returned, but there's 306 00:17:04,040 --> 00:17:07,639 Speaker 1: still a deep hole. We could start to approach an 307 00:17:07,680 --> 00:17:11,119 Speaker 1: unemployment rate certainly below four percent, say three and a 308 00:17:11,160 --> 00:17:13,840 Speaker 1: half to four percent. I think that it is likely 309 00:17:13,880 --> 00:17:16,440 Speaker 1: that more fiscal support will be needed, and so yes, 310 00:17:16,480 --> 00:17:19,640 Speaker 1: additional fiscal support will likely be needed. I do think 311 00:17:19,680 --> 00:17:23,400 Speaker 1: small businesses would benefit from more PPP support. A lot 312 00:17:23,440 --> 00:17:25,760 Speaker 1: of that is going to depend on how will we 313 00:17:25,800 --> 00:17:29,040 Speaker 1: manage this virus, fiscal policy and a whole range of 314 00:17:29,040 --> 00:17:31,960 Speaker 1: other decisions. I don't think there's as much of an 315 00:17:31,960 --> 00:17:37,400 Speaker 1: imperative about a new fiscal packages there might have been, uh, 316 00:17:37,440 --> 00:17:40,560 Speaker 1: you know, in July. So that's James Bullard. The last 317 00:17:40,600 --> 00:17:43,320 Speaker 1: voice there was James Bullard. He's said he's he's the 318 00:17:43,600 --> 00:17:47,440 Speaker 1: odd man out. Why why is that? To me? That 319 00:17:47,680 --> 00:17:51,119 Speaker 1: the takeaways when you hear UM so many of the 320 00:17:51,119 --> 00:17:54,400 Speaker 1: pedificials talk about the need for fiscal students. It's kind 321 00:17:54,400 --> 00:17:57,720 Speaker 1: of a confusing uh to the notion that they've pretty 322 00:17:57,760 --> 00:18:00,080 Speaker 1: much done all they can do. When you say, of 323 00:18:00,200 --> 00:18:03,160 Speaker 1: the other steps the FED could possibly take, people were 324 00:18:03,160 --> 00:18:06,439 Speaker 1: wondering if maybe they'd considered negative interest rates. They've pretty 325 00:18:06,480 --> 00:18:08,680 Speaker 1: much taken that off the table. There was a lot 326 00:18:08,680 --> 00:18:11,960 Speaker 1: of disappointment from the last meeting that they didn't commit 327 00:18:12,000 --> 00:18:15,280 Speaker 1: the sort of uh, some quantitative easing to buy some 328 00:18:15,440 --> 00:18:19,520 Speaker 1: longer dated treasuries to keep those rates camp. So I think, 329 00:18:20,000 --> 00:18:22,080 Speaker 1: what you know, when the market here's the FED talking 330 00:18:22,240 --> 00:18:25,240 Speaker 1: about the need for more fiscal stimulus than the notion, 331 00:18:26,080 --> 00:18:28,720 Speaker 1: I think the way they interpreted is the Fed is 332 00:18:28,800 --> 00:18:32,480 Speaker 1: kind of done pretty much all I can for now, 333 00:18:32,520 --> 00:18:35,080 Speaker 1: and there's not much more that they're willing or able 334 00:18:35,119 --> 00:18:38,320 Speaker 1: to do. Um and So, Kevin, the one thing I 335 00:18:38,320 --> 00:18:42,119 Speaker 1: would add to the conversation is, and you probably know 336 00:18:42,200 --> 00:18:44,520 Speaker 1: this better than me, but a lot of the investing 337 00:18:44,560 --> 00:18:48,320 Speaker 1: sources I've talked to have pointed out that the battle 338 00:18:48,359 --> 00:18:52,000 Speaker 1: over the Supreme Court now has sort of sifted the 339 00:18:52,040 --> 00:18:55,400 Speaker 1: focus to that issue and maybe made the political situation, 340 00:18:55,520 --> 00:18:59,359 Speaker 1: the polarization a little bit worse than it was. The 341 00:18:59,440 --> 00:19:04,560 Speaker 1: idea of um, they're fighting over the Supreme Court nomination. 342 00:19:05,359 --> 00:19:08,159 Speaker 1: Can I tell you something the oxygen in the room argument. 343 00:19:08,160 --> 00:19:10,120 Speaker 1: And I don't mean to interrupt you. I don't buy 344 00:19:10,119 --> 00:19:13,399 Speaker 1: that anymore. I really don't, because here's why they passed 345 00:19:13,400 --> 00:19:16,879 Speaker 1: the CR And they did that literally a day or 346 00:19:16,880 --> 00:19:20,040 Speaker 1: two after the the RBG passing. And they're kicking the 347 00:19:20,080 --> 00:19:23,399 Speaker 1: Canada December eleventh, and they're creating another artificial cliff. I 348 00:19:23,400 --> 00:19:25,199 Speaker 1: I think where there's a will, there's a way to 349 00:19:25,240 --> 00:19:27,640 Speaker 1: get money, you know what I'm trying to say, especially 350 00:19:27,640 --> 00:19:30,040 Speaker 1: in Washington, d C. Hey, Michael, I wish we were 351 00:19:30,080 --> 00:19:32,520 Speaker 1: at the Stone Pony. I wish we were listening to 352 00:19:32,520 --> 00:19:35,560 Speaker 1: to some Bruce in Asbury Park. I was in Asbury 353 00:19:35,640 --> 00:19:38,600 Speaker 1: Park a couple of months pre pandemic. Of course, that 354 00:19:38,680 --> 00:19:42,280 Speaker 1: town is beautiful, you know, it's it's it's especially this 355 00:19:42,320 --> 00:19:43,960 Speaker 1: time of year and what they do for the holidays. 356 00:19:44,000 --> 00:19:47,240 Speaker 1: I hope they still do it. Anyway. Michael Reagan, senior 357 00:19:47,320 --> 00:19:50,320 Speaker 1: editor and lead blogger from Bloomberg Marketside, thank you for 358 00:19:50,400 --> 00:19:52,600 Speaker 1: joining US more coming up next. I'm Kevin Sireli. This 359 00:19:52,640 --> 00:20:12,320 Speaker 1: is Bloomberg One. Why from our nations? How do we 360 00:20:12,440 --> 00:20:16,560 Speaker 1: reopen this economy? The latest on how this pandemic is 361 00:20:16,600 --> 00:20:19,719 Speaker 1: impacting farmers? What does this do for the United States 362 00:20:19,720 --> 00:20:24,879 Speaker 1: relationship with China? Bloomberg Sound on, the Insiders, the influencers, 363 00:20:24,960 --> 00:20:28,480 Speaker 1: the insides. We're responding to this crisis and manufacturers are 364 00:20:28,520 --> 00:20:31,880 Speaker 1: stepping up like never before. We're looking at seventy kennidates 365 00:20:31,960 --> 00:20:34,959 Speaker 1: for different vaccines. How do we make sure a pandemic 366 00:20:35,040 --> 00:20:38,800 Speaker 1: of this scale never happens again? This is Bloomberg Sound 367 00:20:38,840 --> 00:20:43,480 Speaker 1: on with Kevin Surrelate on Bloomberg and one oh five 368 00:20:43,480 --> 00:20:46,400 Speaker 1: point seven FM HD two. We're just stays away from 369 00:20:46,400 --> 00:20:49,720 Speaker 1: the first presidential debate. We're heading to Cleveland next week. 370 00:20:50,000 --> 00:20:51,679 Speaker 1: What's it gonna happen? Is this shake up? On the 371 00:20:51,720 --> 00:20:54,600 Speaker 1: campaign show? We got some pulls out. We're gonna figure 372 00:20:54,600 --> 00:20:57,000 Speaker 1: it out. What impact all this is happening? Plus Speaker 373 00:20:57,040 --> 00:21:02,120 Speaker 1: the House Nancy Pelosi huddling Democrats on a new fiscal 374 00:21:02,280 --> 00:21:06,480 Speaker 1: stimulus deal. All of that plus the latest on Scotus Watch. 375 00:21:06,960 --> 00:21:08,800 Speaker 1: When will we get that announcement? What will it mean? 376 00:21:08,840 --> 00:21:11,000 Speaker 1: We got a lot to get through. Let's get set. 377 00:21:11,080 --> 00:21:15,040 Speaker 1: We're gonna talk about the transition to power coming up 378 00:21:15,520 --> 00:21:17,560 Speaker 1: later on in the program, but I really want to 379 00:21:17,600 --> 00:21:20,120 Speaker 1: start the issue this show off in our a block 380 00:21:20,240 --> 00:21:22,560 Speaker 1: with with the economy, because I really think we got 381 00:21:22,600 --> 00:21:27,160 Speaker 1: some fascinating developments, both both on the fiscal stimulus front 382 00:21:27,240 --> 00:21:30,280 Speaker 1: as well as from feed officials this week about the 383 00:21:30,320 --> 00:21:34,000 Speaker 1: need for there to be some more fiscal stimulus. Plus 384 00:21:34,000 --> 00:21:37,880 Speaker 1: oh yeah, the Labor Department reported earlier today that eight 385 00:21:37,960 --> 00:21:42,199 Speaker 1: hundred and seventy thousand Americans filed for unemployment benefits for 386 00:21:42,200 --> 00:21:45,639 Speaker 1: the first time last week. That's slightly higher than was 387 00:21:45,720 --> 00:21:49,919 Speaker 1: expected and a small increase over the prior week. You know, 388 00:21:49,960 --> 00:21:52,080 Speaker 1: it's still remarkable, folks, when you think of just the 389 00:21:52,440 --> 00:21:57,159 Speaker 1: millions of Americans who are still filing for unemployment. We 390 00:21:57,280 --> 00:22:01,040 Speaker 1: begin with that as the backdrop for a conversation we'll 391 00:22:01,040 --> 00:22:04,320 Speaker 1: have now with Tyler Deaton, a Republican strategist and fundraiser 392 00:22:04,600 --> 00:22:09,320 Speaker 1: president of Allegiance Strategies, and Laura Think, a Democratic strategist 393 00:22:09,400 --> 00:22:14,959 Speaker 1: and founder and CEO of Rebel Communications. Out in sunny 394 00:22:14,960 --> 00:22:18,440 Speaker 1: San Diego, Laura House, How San Diego these days it's 395 00:22:18,480 --> 00:22:21,639 Speaker 1: so gorgeous Today, it is the light in all of 396 00:22:21,680 --> 00:22:27,720 Speaker 1: the coronavirus. Uh badness. We're jealous, sorry, House Democrats. Meanwhile, 397 00:22:27,760 --> 00:22:30,760 Speaker 1: we've got this eight hundred and seventy thousand Americans filing 398 00:22:30,760 --> 00:22:35,520 Speaker 1: for unemployment. House Democrats have started drafting a stimulus proposal 399 00:22:35,560 --> 00:22:38,840 Speaker 1: of roughly two point four trillion that they can take 400 00:22:38,880 --> 00:22:42,320 Speaker 1: into possible negotiations with the White House and Senate Republicans, 401 00:22:42,320 --> 00:22:46,080 Speaker 1: according to Democratic officials. By colleagues Billy House Eric Wasson 402 00:22:46,440 --> 00:22:49,560 Speaker 1: report on the Bloomberg terminal, Tyler, is it too little, 403 00:22:49,600 --> 00:22:51,879 Speaker 1: too late or do you think we're still Are you 404 00:22:51,920 --> 00:22:55,480 Speaker 1: still optimistic that we're gonna get some fiscal relief before 405 00:22:55,520 --> 00:22:57,120 Speaker 1: the end of the year. I guess is the better 406 00:22:57,119 --> 00:23:00,320 Speaker 1: time for him to say, Oh, sure, I'm wildly up amistic. 407 00:23:00,359 --> 00:23:02,400 Speaker 1: We're gonna get stimulus by the end of the year. 408 00:23:02,560 --> 00:23:04,680 Speaker 1: It's just not going to be until after the election. 409 00:23:04,800 --> 00:23:07,720 Speaker 1: Nothing is moving until the Lame Duck. I think it's 410 00:23:07,720 --> 00:23:11,119 Speaker 1: important for people to know that the the cut in 411 00:23:11,160 --> 00:23:13,720 Speaker 1: the price tag here, the fact that Pelosi found one 412 00:23:13,760 --> 00:23:17,199 Speaker 1: trillion dollars to reduce her package is entirely by a 413 00:23:17,280 --> 00:23:20,919 Speaker 1: change to the timeline of her fiscal stimulus, And so 414 00:23:20,960 --> 00:23:23,720 Speaker 1: this really isn't a cut um. She still wants the 415 00:23:23,720 --> 00:23:25,879 Speaker 1: same amount of money. She's just now finally saying that 416 00:23:25,920 --> 00:23:28,560 Speaker 1: she's willing to spend it in a shorter chunk and 417 00:23:28,560 --> 00:23:31,160 Speaker 1: then ask for more later. So I still think that 418 00:23:31,160 --> 00:23:33,760 Speaker 1: this deal as of right now is dead on arrival 419 00:23:34,040 --> 00:23:36,960 Speaker 1: with the Republican cinemajority. But I also think that this 420 00:23:37,040 --> 00:23:39,800 Speaker 1: is probably helping us find a solution when we do 421 00:23:39,880 --> 00:23:41,919 Speaker 1: get to the lame duck session and the elections are 422 00:23:41,960 --> 00:23:44,040 Speaker 1: behind us. Well, I think it's I think it is. 423 00:23:44,480 --> 00:23:45,760 Speaker 1: You know, I think when you look at it a 424 00:23:45,840 --> 00:23:49,480 Speaker 1: face value, now it allows Laura for Democrats to get 425 00:23:49,480 --> 00:23:53,119 Speaker 1: out there if they pass this thing next week and say, hey, 426 00:23:53,320 --> 00:23:55,720 Speaker 1: you know we we we lowered it by about a 427 00:23:55,720 --> 00:23:59,560 Speaker 1: trillion dollars at two point four trillion dollars stimulus. Now 428 00:23:59,600 --> 00:24:02,880 Speaker 1: they can they have some some new uh some new uh. 429 00:24:03,160 --> 00:24:04,920 Speaker 1: I hate. I don't want to use the word, but 430 00:24:04,960 --> 00:24:08,359 Speaker 1: I gotta say talking points to get through Laura in 431 00:24:08,480 --> 00:24:12,600 Speaker 1: terms of the public side of the negotiations. I think 432 00:24:12,640 --> 00:24:14,520 Speaker 1: that's true. But I think that was a talking point 433 00:24:14,520 --> 00:24:16,960 Speaker 1: they possessed long ago, because not only did they put 434 00:24:17,040 --> 00:24:20,120 Speaker 1: forth their package pass it through their deliberative body, which 435 00:24:20,160 --> 00:24:22,360 Speaker 1: is something the Republicans have failed to do. I think 436 00:24:22,359 --> 00:24:26,040 Speaker 1: the other issue is that that Nancy Pelosian Negotiations was 437 00:24:26,080 --> 00:24:28,399 Speaker 1: willing to meet Republicans in the middle on the last 438 00:24:28,480 --> 00:24:32,560 Speaker 1: round of negotiations by by scaling back their proposal, so 439 00:24:33,040 --> 00:24:35,679 Speaker 1: you know, they owned this conversation. The question is how 440 00:24:35,720 --> 00:24:37,720 Speaker 1: effective is it going to be, you know, on the 441 00:24:37,760 --> 00:24:40,200 Speaker 1: trail or will they say a pox on both their houses? 442 00:24:40,240 --> 00:24:41,600 Speaker 1: I think there will be a little bit of that. 443 00:24:42,080 --> 00:24:44,600 Speaker 1: But the reality is, as you said, with the unemployment 444 00:24:44,680 --> 00:24:47,560 Speaker 1: numbers increasing, more and more people are going to be 445 00:24:47,600 --> 00:24:51,080 Speaker 1: looking at that and seeing who is taking action, who's 446 00:24:51,119 --> 00:24:53,679 Speaker 1: moving on this, and why isn't it important to the 447 00:24:53,720 --> 00:24:58,400 Speaker 1: other side well? Ben Cardon Senator Ben Cardon, Democrat of Maryland. 448 00:24:58,400 --> 00:25:01,320 Speaker 1: Ben Cardon said vote, I don't think we are going 449 00:25:01,359 --> 00:25:03,800 Speaker 1: to get it done before whatever break we have before 450 00:25:03,840 --> 00:25:07,000 Speaker 1: the elections end quote. And Senator Cardon is is very 451 00:25:07,119 --> 00:25:09,800 Speaker 1: in the know, especially in the upper echelons of the Senate. 452 00:25:10,200 --> 00:25:14,560 Speaker 1: And you know, for for I see that timeline, You've 453 00:25:14,600 --> 00:25:18,960 Speaker 1: got Senate Appropriations Committee Chairman Richard Shelby, I see that timeline. 454 00:25:19,440 --> 00:25:22,359 Speaker 1: You know they're they're they're downplaying the need or the 455 00:25:22,480 --> 00:25:25,879 Speaker 1: down not the need. They're downplaying the expectation rather Tyler 456 00:25:25,920 --> 00:25:29,240 Speaker 1: Deaton of this happening before the election. But when I 457 00:25:29,320 --> 00:25:35,280 Speaker 1: listened to FED officials one after another, Fed chair J. Powell, 458 00:25:35,800 --> 00:25:39,879 Speaker 1: Vice Chairman Clarida Bullard Kaplan, I mean they're all saying, 459 00:25:39,960 --> 00:25:42,320 Speaker 1: one after the other that that there needs to be 460 00:25:42,480 --> 00:25:46,399 Speaker 1: some type of support. So it really is remarkable, and 461 00:25:46,400 --> 00:25:48,919 Speaker 1: in fact we actually have and I want to play it. 462 00:25:48,960 --> 00:25:51,080 Speaker 1: I want to play it again because it's important. We have. 463 00:25:51,160 --> 00:25:53,440 Speaker 1: All the Fed officials this week you have said essentially 464 00:25:53,440 --> 00:25:55,320 Speaker 1: that there needs to be more fiscal support. Let's take 465 00:25:55,320 --> 00:25:58,920 Speaker 1: a listen to this here all the Fed officials, about 466 00:25:58,960 --> 00:26:02,600 Speaker 1: eleven million jobs have returned, but there's still a deep hole. 467 00:26:03,000 --> 00:26:07,399 Speaker 1: We could start to approach an unemployment rate certainly below 468 00:26:07,440 --> 00:26:09,800 Speaker 1: four percent, say three and a half to four percent. 469 00:26:10,160 --> 00:26:12,840 Speaker 1: I think that it is likely that more physical support 470 00:26:12,880 --> 00:26:15,600 Speaker 1: will be needed, and so yes, additional fiscal support will 471 00:26:15,640 --> 00:26:19,400 Speaker 1: likely be needed. I do think small businesses would benefit 472 00:26:19,480 --> 00:26:21,560 Speaker 1: from more PPP support. A lot of that is going 473 00:26:21,600 --> 00:26:25,880 Speaker 1: to depend on how will we manage this virus, fiscal policy, 474 00:26:25,920 --> 00:26:28,520 Speaker 1: and a whole range of other decisions. I don't think 475 00:26:28,520 --> 00:26:32,760 Speaker 1: there's as much of an imperative about a new fiscal packages. 476 00:26:32,800 --> 00:26:37,520 Speaker 1: There might have been uh, you know, in July Tyler. 477 00:26:37,760 --> 00:26:39,520 Speaker 1: So the Republicans are looking at Jay's Bullard that was 478 00:26:39,520 --> 00:26:42,080 Speaker 1: the last voice you heard there. Uh, and they're they're 479 00:26:42,080 --> 00:26:44,800 Speaker 1: agreeing with him, but there's still but everyone else is saying, 480 00:26:44,840 --> 00:26:47,120 Speaker 1: and including Bullard, I mean, they're saying that there needs 481 00:26:47,119 --> 00:26:49,359 Speaker 1: to be some type of more support. I just don't 482 00:26:49,440 --> 00:26:52,720 Speaker 1: understand why they don't want to get this done before 483 00:26:52,720 --> 00:26:55,320 Speaker 1: the election. It would it would seem that, especially if 484 00:26:55,359 --> 00:26:58,480 Speaker 1: you're an incumbent running in Congress, that you would want 485 00:26:58,560 --> 00:27:01,879 Speaker 1: this before the elections. I there, Well, I'll tell you what. 486 00:27:02,000 --> 00:27:04,359 Speaker 1: There's about a million different angles we could take on this. 487 00:27:04,480 --> 00:27:06,959 Speaker 1: We could talk about the fact that they agree on 488 00:27:07,160 --> 00:27:10,400 Speaker 1: PPP money, that Republicans the Democrats agree on some expansion 489 00:27:10,400 --> 00:27:12,480 Speaker 1: to unemployment insurance. We could talk about all of the 490 00:27:12,520 --> 00:27:14,960 Speaker 1: things where they agree. And I have to tell you, 491 00:27:15,040 --> 00:27:18,040 Speaker 1: Kevin that, uh, not to be cynical, but I think 492 00:27:18,040 --> 00:27:21,439 Speaker 1: that it's both leaders and both chambers, Speaker Pelosi and 493 00:27:21,520 --> 00:27:24,560 Speaker 1: Leader McConnell have to be comfortable with this being a 494 00:27:24,600 --> 00:27:27,399 Speaker 1: win win. And I think that that's actually what's holding 495 00:27:27,480 --> 00:27:33,040 Speaker 1: us up is that nobody wants nobody right now wants 496 00:27:33,080 --> 00:27:34,679 Speaker 1: the other side to be able to come out of 497 00:27:34,720 --> 00:27:37,959 Speaker 1: this saying that they got something right. And so until 498 00:27:38,160 --> 00:27:42,280 Speaker 1: people are okay with the American worker winning, and especially 499 00:27:42,320 --> 00:27:45,560 Speaker 1: the unemployed American workers winning, then we're just not going 500 00:27:45,600 --> 00:27:48,399 Speaker 1: to find a solution because everybody's afraid that, oh if 501 00:27:48,440 --> 00:27:50,360 Speaker 1: this will make President Trump look good, Oh, this will 502 00:27:50,400 --> 00:27:52,640 Speaker 1: make House Democrats look good, Oh, this will make Mitch 503 00:27:52,680 --> 00:27:55,520 Speaker 1: McConnell look good. We've got to get out of that mindset. 504 00:27:55,800 --> 00:27:57,600 Speaker 1: And the sooner we do, the better it is for 505 00:27:57,640 --> 00:27:59,600 Speaker 1: the country. Because I would tell you I could go 506 00:27:59,680 --> 00:28:03,639 Speaker 1: line eye line through every version of the House deals 507 00:28:03,640 --> 00:28:08,080 Speaker 1: and the Senate deals, and there's agreement and they're really 508 00:28:08,160 --> 00:28:11,440 Speaker 1: letting a few details jam this up. But even more 509 00:28:11,480 --> 00:28:13,040 Speaker 1: than that, And that's why I think it's important for 510 00:28:13,040 --> 00:28:15,840 Speaker 1: people to know. It's that they just don't want anyone 511 00:28:15,880 --> 00:28:18,480 Speaker 1: else to get any credit for a good deal going 512 00:28:18,520 --> 00:28:21,160 Speaker 1: through before the election. Tyler, you know what I think. 513 00:28:21,920 --> 00:28:23,840 Speaker 1: I think they all need to go out to sunny 514 00:28:23,920 --> 00:28:27,480 Speaker 1: San Diego. They need to sit on the beach, socially distanced, 515 00:28:27,480 --> 00:28:29,720 Speaker 1: and they need to hammer out a deal. I think 516 00:28:29,760 --> 00:28:32,360 Speaker 1: I think people on the beach, Laura, I think they 517 00:28:32,400 --> 00:28:35,320 Speaker 1: need I think people have forgotten what a vacation feels like, 518 00:28:35,400 --> 00:28:39,120 Speaker 1: you know what I mean, Well, I don't I don't 519 00:28:39,120 --> 00:28:42,640 Speaker 1: know if it's a vacation or if it's that they've forgotten, 520 00:28:43,000 --> 00:28:45,760 Speaker 1: you know, what the what deal making looks like in Washington, 521 00:28:45,840 --> 00:28:48,160 Speaker 1: which has been really absent. That said, I don't know 522 00:28:48,200 --> 00:28:50,040 Speaker 1: that I agree with my colleague that they're that they're 523 00:28:50,080 --> 00:28:52,280 Speaker 1: that close. I mean, I think that the ticket price 524 00:28:52,600 --> 00:28:55,200 Speaker 1: is still very far apart. I think there are some 525 00:28:55,320 --> 00:28:58,120 Speaker 1: essential issues on the Democratic side, including you know, funding 526 00:28:58,120 --> 00:29:01,000 Speaker 1: for election protections at levels that are going to be impactful. 527 00:29:01,120 --> 00:29:02,840 Speaker 1: And I also think that what we don't talk about 528 00:29:02,840 --> 00:29:04,400 Speaker 1: a lot is the aid to the states. You know, 529 00:29:04,440 --> 00:29:06,920 Speaker 1: there's obviously the PPP to small businesses, but that age 530 00:29:06,920 --> 00:29:08,840 Speaker 1: of states is going to lead to layoffs. Right now, 531 00:29:08,920 --> 00:29:11,360 Speaker 1: Municipalities that, whether they're run by end states, whether they're 532 00:29:11,400 --> 00:29:14,000 Speaker 1: run by Democrats or Republicans, are are in a calf 533 00:29:14,120 --> 00:29:16,080 Speaker 1: or cash French and there's only one place to go, 534 00:29:16,200 --> 00:29:18,640 Speaker 1: and that's the federal government in this crisis. So so 535 00:29:18,680 --> 00:29:21,560 Speaker 1: by not providing that aid, which you know, the President 536 00:29:21,600 --> 00:29:24,720 Speaker 1: has been reticent about doing, and so did so and 537 00:29:24,760 --> 00:29:27,400 Speaker 1: so did half about half the pocket because the other thing. 538 00:29:27,440 --> 00:29:29,560 Speaker 1: We gotta where we got it. We gotta leave it there, 539 00:29:29,680 --> 00:29:31,600 Speaker 1: save it for out for the drump of Kevin Siley. 540 00:29:31,600 --> 00:29:38,640 Speaker 1: This is Bloomberg nine and nine one. You're listening to 541 00:29:38,760 --> 00:29:43,400 Speaker 1: Bloomberg Sound On with Kevin Surley on Bloomberg and one 542 00:29:43,400 --> 00:29:45,880 Speaker 1: All five point seven F M H D two. My 543 00:29:45,960 --> 00:29:48,200 Speaker 1: name is Kevin Curley. I'm the chief Washington correspondent for 544 00:29:48,200 --> 00:29:52,000 Speaker 1: Bloomberg Television and for Bloomberg Radio. I totally messed up yesterday. 545 00:29:52,840 --> 00:29:56,280 Speaker 1: I thought Bruce Springsteen's birthday was today. It was yesterday. 546 00:29:57,000 --> 00:29:58,600 Speaker 1: You know. I love Bruce, and I here I am, 547 00:29:58,720 --> 00:30:02,080 Speaker 1: you know, doing my show. Literally in my mind, I'm like, okay, 548 00:30:02,160 --> 00:30:06,000 Speaker 1: remember acknowledged the boss's birthday on today, but it was 549 00:30:06,040 --> 00:30:10,760 Speaker 1: really yesterday. So anyway, happy belated birthday, Bruce Springsteen. All right, 550 00:30:11,280 --> 00:30:12,840 Speaker 1: I want to welcome back. I want to talk about 551 00:30:12,840 --> 00:30:15,960 Speaker 1: the Supreme Court, but I had to. We got I 552 00:30:16,040 --> 00:30:19,400 Speaker 1: ran out of time. Mismanagement of the clock on my 553 00:30:19,840 --> 00:30:23,000 Speaker 1: on my part. Tyler Deaton's with us. He's a Republican insider, Laura, 554 00:30:23,040 --> 00:30:26,200 Speaker 1: facademic Democratic insider, Laura. I had to. I wanted you 555 00:30:26,280 --> 00:30:27,760 Speaker 1: to finish your thoughts. What were you saying about the 556 00:30:27,760 --> 00:30:30,520 Speaker 1: fiscal stimulus and how look, I mean, you're still saying 557 00:30:30,520 --> 00:30:34,280 Speaker 1: Democrats and Republicans are a world apart. They are, And 558 00:30:34,280 --> 00:30:35,800 Speaker 1: I think that some of that comes just if I'm 559 00:30:35,800 --> 00:30:38,720 Speaker 1: going to give the opposition a little credit. Mitch McConnell 560 00:30:38,760 --> 00:30:41,560 Speaker 1: has a divided caucus and there are some hardliners in 561 00:30:41,600 --> 00:30:43,480 Speaker 1: there that don't want to see a stimulus pass at all, 562 00:30:43,720 --> 00:30:45,280 Speaker 1: and so he's gonna need to kind of deal that 563 00:30:45,280 --> 00:30:47,760 Speaker 1: that that works with both Democrats and Republicans. So he's 564 00:30:47,760 --> 00:30:50,080 Speaker 1: got a numbers problem. But at the end of the day, 565 00:30:50,160 --> 00:30:52,320 Speaker 1: I mean, a meat in the middle is no longer 566 00:30:52,800 --> 00:30:56,240 Speaker 1: a penable negotiating position, which leaves the Democrats in a 567 00:30:56,440 --> 00:30:58,280 Speaker 1: in a tough spot. So that's all I was saying. 568 00:30:58,760 --> 00:31:01,400 Speaker 1: All right, let's let's let's we got to talk about 569 00:31:01,440 --> 00:31:06,080 Speaker 1: the Supreme Court, because, as I mentioned on Saturday, President Trump, 570 00:31:06,160 --> 00:31:09,440 Speaker 1: late Saturday afternoon, President Trump is going to announce the 571 00:31:09,680 --> 00:31:13,200 Speaker 1: U is going to announce the his his his selections 572 00:31:13,240 --> 00:31:17,160 Speaker 1: are replaced RBG to the to the Supreme Court. Take 573 00:31:17,160 --> 00:31:19,160 Speaker 1: a listen to what he said earlier today when asked 574 00:31:19,160 --> 00:31:21,120 Speaker 1: by reporters where things stand. Here's the President of the 575 00:31:21,160 --> 00:31:25,760 Speaker 1: United States talking about the Supreme Court. I'm getting very 576 00:31:25,760 --> 00:31:28,479 Speaker 1: close to a final choice, all right, So that if 577 00:31:28,560 --> 00:31:30,240 Speaker 1: you know, all the rumblings are that it's going to 578 00:31:30,280 --> 00:31:34,440 Speaker 1: be Judge Amy Coney Barrett to the Supreme Court, Tyler, 579 00:31:34,680 --> 00:31:37,720 Speaker 1: from a political standpoint, what does this pick means should 580 00:31:37,720 --> 00:31:40,600 Speaker 1: it be Judge at Amy Coney Barrett, what would it 581 00:31:40,640 --> 00:31:45,800 Speaker 1: mean for Republicans? It almost doesn't matter who he picks. 582 00:31:45,880 --> 00:31:48,560 Speaker 1: The pick is going to be polarizing, and it's going 583 00:31:48,600 --> 00:31:51,400 Speaker 1: to make red states redder, and it's going to make 584 00:31:51,440 --> 00:31:54,960 Speaker 1: blue states. And I think the biggest impact that this 585 00:31:55,040 --> 00:31:57,600 Speaker 1: will have is not on the presidential rates necessarily, but 586 00:31:57,680 --> 00:32:00,280 Speaker 1: on the various US Senate races that are happening around 587 00:32:00,320 --> 00:32:03,920 Speaker 1: the country. So, if you're a Republican senator voting to 588 00:32:04,040 --> 00:32:06,600 Speaker 1: confirm this judge in a red state, this is good 589 00:32:06,600 --> 00:32:09,320 Speaker 1: for you. Um if you're a Republican senator voting to 590 00:32:09,360 --> 00:32:11,720 Speaker 1: confirm this judge from a blue state, this is probably 591 00:32:11,760 --> 00:32:14,040 Speaker 1: bad for you. But it's going to be most interesting, 592 00:32:14,080 --> 00:32:16,560 Speaker 1: I think for Senator Susan Collins, who is a Republican 593 00:32:16,600 --> 00:32:19,360 Speaker 1: senator who has said that she's opposed to this process 594 00:32:19,400 --> 00:32:21,920 Speaker 1: moving forward. She's up in Maine right now. She's the 595 00:32:21,920 --> 00:32:24,480 Speaker 1: Republican representing the bluest state in the U. S. Senate 596 00:32:25,000 --> 00:32:27,560 Speaker 1: that's held by a Republican. It's about a D plus five. 597 00:32:28,040 --> 00:32:30,000 Speaker 1: And I think that for her this is really going 598 00:32:30,040 --> 00:32:33,480 Speaker 1: to complicate things. But I also think she's navigating it 599 00:32:33,520 --> 00:32:36,040 Speaker 1: as well as she can. Alright, So what does it 600 00:32:36,040 --> 00:32:39,840 Speaker 1: mean for the presidential Tyler? I think for the presidential race, 601 00:32:39,920 --> 00:32:42,800 Speaker 1: that's exactly what I'm saying. It's it's polarizing. If you're 602 00:32:42,800 --> 00:32:46,200 Speaker 1: an ideological voter, you're already a Republican or a Democrat. 603 00:32:46,280 --> 00:32:49,240 Speaker 1: From all the polling that I've seen. Independent voters don't 604 00:32:49,360 --> 00:32:52,000 Speaker 1: vote based on the Supreme Court, and so I think 605 00:32:52,000 --> 00:32:55,640 Speaker 1: that independent voters in places like Pennsylvania or Florida, they're 606 00:32:55,640 --> 00:32:58,240 Speaker 1: still voting on the issues We're all hearing about, the economy, 607 00:32:58,520 --> 00:33:02,440 Speaker 1: the pandemic, health, air, uh, this the sort of issues 608 00:33:02,480 --> 00:33:04,760 Speaker 1: that dominate the middle. I think that this is something 609 00:33:04,760 --> 00:33:07,800 Speaker 1: that's just going to drive up the base on both sides. 610 00:33:07,960 --> 00:33:11,120 Speaker 1: I don't know that it changes the turnout for either 611 00:33:11,280 --> 00:33:14,240 Speaker 1: one party in particular. I think it's just going to 612 00:33:14,320 --> 00:33:18,320 Speaker 1: make turnout much higher across the board as both sides 613 00:33:18,440 --> 00:33:20,880 Speaker 1: ramp up, and remember how much they care about the 614 00:33:20,880 --> 00:33:23,920 Speaker 1: Supreme Court, Laura, you know, I mean, I want to 615 00:33:23,960 --> 00:33:27,320 Speaker 1: pick up on something that Tyler just so brilliantly laid 616 00:33:27,360 --> 00:33:30,160 Speaker 1: out there, which is the impact it has on pulling 617 00:33:30,600 --> 00:33:34,000 Speaker 1: red states further red for the Senate races and blue 618 00:33:34,040 --> 00:33:38,400 Speaker 1: states further blue and complicating people like Senator Susan Collins, 619 00:33:38,400 --> 00:33:42,240 Speaker 1: because I think back to post Judge Kavanaugh, right, that 620 00:33:42,360 --> 00:33:46,600 Speaker 1: was a very contentious nomination process, and Republicans picked up 621 00:33:46,640 --> 00:33:49,320 Speaker 1: seats in the midterms in the Senate. Democrats picked up 622 00:33:49,360 --> 00:33:52,840 Speaker 1: seats in the House. But in the Senate where things 623 00:33:53,640 --> 00:33:55,840 Speaker 1: you know, were they were, they obviously have the confirmation 624 00:33:55,920 --> 00:33:59,240 Speaker 1: for for the Supreme Court, it went more red. Laura, 625 00:33:59,280 --> 00:34:01,320 Speaker 1: So how do you think, what what you know when 626 00:34:01,320 --> 00:34:05,000 Speaker 1: you when you talk to to to your political orbit, 627 00:34:05,200 --> 00:34:09,359 Speaker 1: how are they what are the political scientists saying on this? Well, 628 00:34:09,719 --> 00:34:12,280 Speaker 1: I think it's what I would say to be where 629 00:34:12,280 --> 00:34:15,600 Speaker 1: the women, I mean, like RBG was an icon of 630 00:34:15,719 --> 00:34:18,200 Speaker 1: both not just the feminist movement, but even women that 631 00:34:18,200 --> 00:34:21,239 Speaker 1: don't even consider themselves feminists recognize the work that she 632 00:34:21,480 --> 00:34:24,640 Speaker 1: in the list that she carried for women over history, 633 00:34:24,719 --> 00:34:28,320 Speaker 1: voting rights, workers rights, um. This is an energy boost 634 00:34:28,480 --> 00:34:30,920 Speaker 1: to the last in a way that the Supreme Court 635 00:34:31,080 --> 00:34:34,319 Speaker 1: doesn't generally do. There's sort of asymmetric because the right 636 00:34:34,360 --> 00:34:37,040 Speaker 1: tends to be energized around Supreme Court picks with conservative 637 00:34:37,120 --> 00:34:40,120 Speaker 1: Christian voters, etcetera, um, and the lesson is not as 638 00:34:40,160 --> 00:34:42,759 Speaker 1: motivated as much. Well that changes this year. And you know, 639 00:34:42,840 --> 00:34:44,960 Speaker 1: I just want to comment on the Senate racist because 640 00:34:45,160 --> 00:34:48,839 Speaker 1: I don't know what internal Corey Gardner, Marsha McSally, uh, 641 00:34:48,880 --> 00:34:52,040 Speaker 1: you know, and and Tom Tillis are seeing. But I 642 00:34:52,320 --> 00:34:54,719 Speaker 1: feel like they've given up because this is definitely going 643 00:34:54,800 --> 00:34:58,040 Speaker 1: to have an impact on those Purple states. Uh that 644 00:34:58,040 --> 00:35:00,760 Speaker 1: that where this is an issue, because we see obviously 645 00:35:00,800 --> 00:35:03,600 Speaker 1: it's the Supreme Court vote. The voters care less about process, 646 00:35:03,600 --> 00:35:06,560 Speaker 1: but they do care about the substance that they're potentially 647 00:35:06,640 --> 00:35:08,440 Speaker 1: going to lose the right to choose, the right to 648 00:35:08,480 --> 00:35:12,000 Speaker 1: access contraception, the rights to you know, equal pay on 649 00:35:12,040 --> 00:35:15,160 Speaker 1: the women's side, the right to re resurrecting the Voting 650 00:35:15,239 --> 00:35:18,239 Speaker 1: Rights Act and defending it once again, the rights to 651 00:35:18,360 --> 00:35:21,200 Speaker 1: organize in their workplace. I mean, those are all compelling 652 00:35:21,239 --> 00:35:23,600 Speaker 1: issues and there's an energy around them. So I don't 653 00:35:23,680 --> 00:35:26,120 Speaker 1: know that it's just we don't know how it's going 654 00:35:26,160 --> 00:35:28,560 Speaker 1: to play out definitively. But I just don't What I 655 00:35:28,600 --> 00:35:32,759 Speaker 1: truly don't understand is the Senators that are in those 656 00:35:32,760 --> 00:35:35,480 Speaker 1: swing states immediately coming and saying that they're going to 657 00:35:35,600 --> 00:35:37,560 Speaker 1: vote on the six you know, it is it is 658 00:35:37,640 --> 00:35:41,680 Speaker 1: quite remarkable Tyler especially, I would add healthcare to that list. 659 00:35:41,880 --> 00:35:44,440 Speaker 1: You know, I mean because absolutely, because you look at 660 00:35:44,600 --> 00:35:48,520 Speaker 1: because healthcare, you know, for Republicans and Democrats, you know, 661 00:35:48,560 --> 00:35:51,720 Speaker 1: they very much disagree on it. It's a very polarizing issue. 662 00:35:52,080 --> 00:35:56,040 Speaker 1: But one of the most important dates November ten, November ten, 663 00:35:56,120 --> 00:35:59,320 Speaker 1: November eleven, when they're scheduled, Tyler to have the opening 664 00:35:59,400 --> 00:36:03,360 Speaker 1: arguments on the Affordable Care Act, a massive case. And listen, 665 00:36:03,920 --> 00:36:06,040 Speaker 1: everybody always asked me, well, what what what is the 666 00:36:06,120 --> 00:36:10,920 Speaker 1: rush for for Republicans for getting the judge, forgetting the 667 00:36:10,719 --> 00:36:13,520 Speaker 1: the justice on the court, for filling the seats so quickly. 668 00:36:13,840 --> 00:36:17,160 Speaker 1: I say, the opening arguments of the a C. A case, 669 00:36:17,560 --> 00:36:20,120 Speaker 1: Because if the judges aren't on the court for the 670 00:36:20,200 --> 00:36:24,080 Speaker 1: opening arguments and they can't participate, and that's scheduled that case, 671 00:36:24,120 --> 00:36:26,960 Speaker 1: the a C. A case, the healthcare case is scheduled 672 00:36:27,280 --> 00:36:30,480 Speaker 1: for remember remember eleven likely going to happen then, so 673 00:36:30,520 --> 00:36:33,800 Speaker 1: that's why there's this, this this urgency. You know, Tyler, 674 00:36:33,840 --> 00:36:35,439 Speaker 1: we only have like a minute left, less than a minute, 675 00:36:35,480 --> 00:36:37,359 Speaker 1: so I just quickly keep just weigh in on on 676 00:36:37,440 --> 00:36:40,480 Speaker 1: just how healthcare is going to be so incredibly important 677 00:36:40,520 --> 00:36:44,240 Speaker 1: for the presidential election as well. Health Care is the 678 00:36:44,280 --> 00:36:46,640 Speaker 1: top issue in the race, regardless of what happens at 679 00:36:46,680 --> 00:36:50,600 Speaker 1: the Supreme Court. Um. Healthcare was already the top issue 680 00:36:51,040 --> 00:36:54,480 Speaker 1: in some of these battleground states before Ruth Fate Against 681 00:36:54,640 --> 00:36:57,800 Speaker 1: passed away. And so I agree. I think that Laura 682 00:36:57,840 --> 00:37:00,680 Speaker 1: has a point that if Democrats are able to turn 683 00:37:00,719 --> 00:37:04,719 Speaker 1: the Supreme Court vacancy into a healthcare issue, UM, then 684 00:37:04,760 --> 00:37:07,080 Speaker 1: that would be smart on their part. I also think though, 685 00:37:07,160 --> 00:37:09,640 Speaker 1: that you know, for for any side of the coin, 686 00:37:09,719 --> 00:37:12,239 Speaker 1: you've got another side, which is that nothing is more 687 00:37:12,560 --> 00:37:17,799 Speaker 1: unified mobilizing for Republican voters than having a judicial nomination 688 00:37:17,880 --> 00:37:20,120 Speaker 1: all the way up in the Supreme Court vacancy. I 689 00:37:20,200 --> 00:37:23,440 Speaker 1: have not seen the Republican Party I've energized as it 690 00:37:23,520 --> 00:37:26,200 Speaker 1: is right now. All right, there's the music again, Kevin's 691 00:37:26,239 --> 00:37:30,400 Speaker 1: poor clock management. I'm Kevin Surreli, chief Washington correspondent for 692 00:37:30,480 --> 00:37:38,480 Speaker 1: Bloomberg TV and Radio. You're listening to Bloomberg. This is 693 00:37:38,520 --> 00:37:43,640 Speaker 1: Bloomberg Sound On with Kevin Surreley on Bloomberg one and 694 00:37:43,680 --> 00:37:47,520 Speaker 1: one oh five point seven FM HD two. I'm Kevin Surreally. 695 00:37:47,560 --> 00:37:50,360 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 696 00:37:50,480 --> 00:37:53,120 Speaker 1: Bloomberg Radio. Coming up tomorrow, we're gonna have a complete 697 00:37:53,120 --> 00:37:55,840 Speaker 1: preview of the Supreme Court. We're gonna have some special 698 00:37:55,880 --> 00:37:58,800 Speaker 1: analysis as we await for the President of the United States, 699 00:37:58,800 --> 00:38:02,560 Speaker 1: and name is the election to pick the replacement for 700 00:38:02,960 --> 00:38:07,240 Speaker 1: the late Great Ruth Bader Ginsburgh. That announcement is coming 701 00:38:07,480 --> 00:38:12,840 Speaker 1: on Saturday in the five o'clock Eastern hour. Reportedly, I'm 702 00:38:13,000 --> 00:38:15,879 Speaker 1: very thrilled to welcome to the program someone who has 703 00:38:16,000 --> 00:38:19,399 Speaker 1: a deep, deep knowledge of the Supreme Court of race 704 00:38:19,440 --> 00:38:21,920 Speaker 1: relations in our country, someone who is, you know, an 705 00:38:21,960 --> 00:38:25,200 Speaker 1: award winning author. He is. In two thousand and six, 706 00:38:25,280 --> 00:38:28,480 Speaker 1: he received the Bradley Prize for his contributions to the 707 00:38:28,480 --> 00:38:31,600 Speaker 1: study of race in America. In two thousand and four, 708 00:38:31,880 --> 00:38:36,120 Speaker 1: he was awarded the National Humanities Medal. The National Humanities 709 00:38:36,160 --> 00:38:39,919 Speaker 1: Medal a huge honor. UH. And his name is Dr 710 00:38:39,960 --> 00:38:43,560 Speaker 1: Shelby Steele. UH and Dr Steel, thank you so much 711 00:38:43,600 --> 00:38:46,880 Speaker 1: for for joining us. I really appreciate you making the 712 00:38:46,920 --> 00:38:50,239 Speaker 1: time for me. You know, I just want to well, 713 00:38:50,320 --> 00:38:53,120 Speaker 1: I just want to get your perspective in terms of 714 00:38:53,120 --> 00:38:57,440 Speaker 1: of this particularly heightened, polarized, politicized time. I mean, a 715 00:38:57,480 --> 00:39:02,200 Speaker 1: Supreme Court pick is always always political, but it feels 716 00:39:02,200 --> 00:39:05,759 Speaker 1: different this, this pick feels different, just given how close 717 00:39:05,800 --> 00:39:08,400 Speaker 1: we are to an election, and also given you know 718 00:39:08,520 --> 00:39:15,080 Speaker 1: what what what happened last night in Louisville, Kentucky. Yes, yeah, boy, 719 00:39:15,160 --> 00:39:19,440 Speaker 1: Well a lot going on. Um and uh and hard 720 00:39:19,480 --> 00:39:23,080 Speaker 1: to the outlines are not altogether clear at this point, 721 00:39:23,160 --> 00:39:25,879 Speaker 1: but you can you can see certain things. I mean, 722 00:39:26,200 --> 00:39:31,239 Speaker 1: the Supreme Court. Uh, struggle is is um I think 723 00:39:31,360 --> 00:39:35,839 Speaker 1: more difficult these days because it's more cultural um as 724 00:39:36,000 --> 00:39:40,319 Speaker 1: cultural as it is political. Um and what kind of 725 00:39:40,360 --> 00:39:43,600 Speaker 1: culture are we today? And the left has one point 726 00:39:43,600 --> 00:39:45,600 Speaker 1: of view, the right has another point of view. There 727 00:39:46,239 --> 00:39:52,440 Speaker 1: both sides are deeply entrenched. Uh and uh so the 728 00:39:52,680 --> 00:39:56,319 Speaker 1: it's it is really, um, a kind of warfare. I mean, 729 00:39:56,400 --> 00:40:00,640 Speaker 1: it's it's really a serious kind Look. I guess it's 730 00:40:00,640 --> 00:40:05,000 Speaker 1: better than a civil war, certainly, but it's kind of 731 00:40:05,040 --> 00:40:07,960 Speaker 1: a non violent civil war. Well, you know, I want 732 00:40:07,960 --> 00:40:10,440 Speaker 1: to I want to unpack something that you just said. 733 00:40:10,520 --> 00:40:14,000 Speaker 1: Which which I hadn't heard it described that way, which is, 734 00:40:14,360 --> 00:40:17,839 Speaker 1: this feels like a more cultural pick and and and 735 00:40:17,920 --> 00:40:19,960 Speaker 1: I you know, I've never heard it described that way. 736 00:40:20,000 --> 00:40:22,080 Speaker 1: But I just had naha moment because the light bulb 737 00:40:22,160 --> 00:40:24,480 Speaker 1: just went off. It ties this feels that the that 738 00:40:24,560 --> 00:40:29,480 Speaker 1: the cultured debate around a host of various issues are 739 00:40:29,520 --> 00:40:33,880 Speaker 1: all conflating and being thrust upon the Supreme Court. Can 740 00:40:33,920 --> 00:40:35,840 Speaker 1: you just unpack that for me and put it in 741 00:40:35,880 --> 00:40:38,839 Speaker 1: a historical context, Because you do that so brilliantly, put 742 00:40:38,880 --> 00:40:41,719 Speaker 1: it in a historical context of of unrest that we've 743 00:40:41,719 --> 00:40:44,360 Speaker 1: seen in the nineties, seventies, to some extent of the 744 00:40:44,440 --> 00:40:49,480 Speaker 1: nineteen nineties and other points in our country's history. Well, 745 00:40:49,520 --> 00:40:54,760 Speaker 1: you know, I think, uh, boy, it's a it's the sixties. 746 00:40:54,800 --> 00:40:59,359 Speaker 1: I think changed everything. And um, this was an era 747 00:40:59,440 --> 00:41:03,000 Speaker 1: where I'm was confronted with all sorts of protests, the 748 00:41:03,000 --> 00:41:07,480 Speaker 1: civil rights movement, the anti war movement, the woman's movement. Uh, 749 00:41:07,520 --> 00:41:12,160 Speaker 1: and they're emerged from that era the idea that America 750 00:41:12,680 --> 00:41:17,920 Speaker 1: was in need of real redemption. Uh, that somehow we 751 00:41:17,920 --> 00:41:21,880 Speaker 1: we had it was honorable that we acknowledged our past, 752 00:41:23,080 --> 00:41:26,960 Speaker 1: but we now needed to redeem ourselves and a kind 753 00:41:27,080 --> 00:41:31,440 Speaker 1: of liberalism grew out of that, an activist social engineering, 754 00:41:32,280 --> 00:41:35,080 Speaker 1: uh sort of liberalism. And we wanted a supreme court 755 00:41:35,200 --> 00:41:40,920 Speaker 1: that would that would sanction things like affirmative action for example. Uh. 756 00:41:40,920 --> 00:41:45,160 Speaker 1: And um those were the big battles. Well, we're sort 757 00:41:45,200 --> 00:41:49,960 Speaker 1: of still uh in that kind of culture war where 758 00:41:51,360 --> 00:41:54,480 Speaker 1: both sides, um we on the on the on the right, 759 00:41:55,200 --> 00:41:57,919 Speaker 1: we want originalists. We want people who want it, who 760 00:41:57,920 --> 00:42:04,080 Speaker 1: take the Constitution literally lee, who don't want um, you know, 761 00:42:04,200 --> 00:42:07,759 Speaker 1: fashionable ideas to to have to be taken seriously. Rather, 762 00:42:08,280 --> 00:42:11,680 Speaker 1: they want the fundamental principles of the Constitution of health 763 00:42:11,719 --> 00:42:15,359 Speaker 1: and so forth. Um so. And then how does that 764 00:42:15,400 --> 00:42:18,000 Speaker 1: really you know, play down on the streets, so to speak, 765 00:42:18,040 --> 00:42:22,279 Speaker 1: How does with with actual candidates and what do they 766 00:42:22,320 --> 00:42:25,799 Speaker 1: believe and where do they stand? And how's that going 767 00:42:25,840 --> 00:42:30,520 Speaker 1: to take our our society forward? Um So, it's it's 768 00:42:30,520 --> 00:42:36,840 Speaker 1: a it's an interesting, interesting time. Uh, look forward to it. Actually, Well, 769 00:42:37,200 --> 00:42:39,560 Speaker 1: Dr Shelby Steals on the line. He has the Robert J. 770 00:42:39,719 --> 00:42:43,200 Speaker 1: And Mary and E. Auster Senior Fellow at the Hoover Institution. 771 00:42:43,640 --> 00:42:47,279 Speaker 1: He has the author of numerous books and including him 772 00:42:47,360 --> 00:42:50,920 Speaker 1: the National Book Critics Circle Award in n He is 773 00:42:50,960 --> 00:42:54,360 Speaker 1: an award winning author in the General nonfiction category for 774 00:42:54,400 --> 00:42:56,760 Speaker 1: the the award winning book. As I mentioned the content 775 00:42:56,840 --> 00:43:00,880 Speaker 1: of Our Our Character, a new vision of race in America. 776 00:43:01,480 --> 00:43:05,160 Speaker 1: You know, and I guess the follow up here is 777 00:43:05,239 --> 00:43:09,480 Speaker 1: at a time in which millions of Americans of all 778 00:43:09,520 --> 00:43:15,760 Speaker 1: different political stripes, Dr Steele feel a very strong opinion 779 00:43:15,800 --> 00:43:18,800 Speaker 1: about race. And and you see it in the streets 780 00:43:18,840 --> 00:43:21,840 Speaker 1: of Washington, d C. You saw it last night in Louisville, Kentucky. 781 00:43:22,400 --> 00:43:24,920 Speaker 1: You see it in in in in all of the 782 00:43:25,000 --> 00:43:27,840 Speaker 1: and and that's that's real emotion. And so in no 783 00:43:27,960 --> 00:43:30,399 Speaker 1: way do I want to ask a question that that 784 00:43:30,680 --> 00:43:35,200 Speaker 1: diminishes the real emotion and the real experiences that that 785 00:43:35,320 --> 00:43:38,440 Speaker 1: millions of Americans have experienced, that their families have experienced. 786 00:43:38,960 --> 00:43:43,160 Speaker 1: How do we as a country get to a place 787 00:43:43,200 --> 00:43:48,440 Speaker 1: where we're not screaming at each other but actually working 788 00:43:48,480 --> 00:43:53,000 Speaker 1: together to to enact change in a concrete way that 789 00:43:53,200 --> 00:43:58,719 Speaker 1: is both structural for our institutions but also respectful of 790 00:43:59,360 --> 00:44:04,680 Speaker 1: the millions of Americans who have had these experiences. Well, 791 00:44:04,719 --> 00:44:07,040 Speaker 1: I think one thing we have to Uh. I grew 792 00:44:07,080 --> 00:44:11,080 Speaker 1: up in the civil rights era, and um, the title 793 00:44:11,080 --> 00:44:13,400 Speaker 1: of my first book on race was the content of 794 00:44:13,440 --> 00:44:15,840 Speaker 1: our character as opposed to the color of our skin. 795 00:44:17,320 --> 00:44:21,440 Speaker 1: We have to get back to this idea that race 796 00:44:21,960 --> 00:44:30,200 Speaker 1: in itself inherently means nothing. It means nothing. It's something 797 00:44:30,239 --> 00:44:33,799 Speaker 1: that humans, we human beings, pick up and trade on, 798 00:44:33,920 --> 00:44:36,480 Speaker 1: and we try to assign different meanings to it and 799 00:44:37,000 --> 00:44:41,240 Speaker 1: different levels of important and we we always whenever we 800 00:44:41,239 --> 00:44:44,520 Speaker 1: we we touch race, whenever we pick it up, we 801 00:44:44,600 --> 00:44:49,040 Speaker 1: are usually using it as a means to power. Whether 802 00:44:49,200 --> 00:44:54,480 Speaker 1: that is the a segregationist of the nine nineteenth century 803 00:44:54,680 --> 00:45:00,520 Speaker 1: or some someone from Black Lives Matter today, uh, who 804 00:45:00,520 --> 00:45:03,200 Speaker 1: are picking up race and using it as a means 805 00:45:03,280 --> 00:45:08,400 Speaker 1: to power. That's the essential evil of race. That's its danger. 806 00:45:08,960 --> 00:45:12,160 Speaker 1: That's why it's so divisive, because I'll take race and 807 00:45:12,160 --> 00:45:14,640 Speaker 1: make it mean what I wanted to mean, and you 808 00:45:14,840 --> 00:45:17,000 Speaker 1: use it to it and there we are. We're gonna 809 00:45:17,239 --> 00:45:21,080 Speaker 1: there's no no option really but to have conflict and fight. 810 00:45:22,320 --> 00:45:24,320 Speaker 1: We have to get back I think to a commitment 811 00:45:24,360 --> 00:45:28,759 Speaker 1: in our democracy that race should mean nothing. It should 812 00:45:28,840 --> 00:45:32,520 Speaker 1: win you nothing, it should cost you nothing. We want 813 00:45:32,520 --> 00:45:34,920 Speaker 1: it out of our out of our purview, out of 814 00:45:34,960 --> 00:45:37,759 Speaker 1: our society, and we'll all be better for it. We 815 00:45:37,800 --> 00:45:42,120 Speaker 1: need to relate that citizens rather than members of a 816 00:45:42,360 --> 00:45:45,880 Speaker 1: there's nothing sacred of honor race. It doesn't it really 817 00:45:45,920 --> 00:45:48,280 Speaker 1: doesn't mean anything. I've only got you for two more minutes. 818 00:45:48,320 --> 00:45:51,400 Speaker 1: But but you know, and that's why I'm thinking Alleville, Kentucky, 819 00:45:51,719 --> 00:45:56,480 Speaker 1: and of course Brianna Taylor's murder. And I don't understand 820 00:45:57,080 --> 00:46:01,800 Speaker 1: why bipartisan policy changes when you've got people like Senator 821 00:46:01,880 --> 00:46:05,280 Speaker 1: Ram Paul working with progressives on a no knock band. 822 00:46:05,719 --> 00:46:09,080 Speaker 1: I don't I don't understand why Washington d C. This is, 823 00:46:09,640 --> 00:46:13,840 Speaker 1: this is a constructive criticism for the institutions of Congress. 824 00:46:13,920 --> 00:46:18,160 Speaker 1: I don't understand why they can't take bipartisan legislation and 825 00:46:18,280 --> 00:46:21,800 Speaker 1: quickly move it. And is that is that gotten worse 826 00:46:21,920 --> 00:46:24,520 Speaker 1: as time has gone on or has that always been 827 00:46:24,560 --> 00:46:28,600 Speaker 1: the case? Dr Shelby Steele, Well, I think it's it's uh, 828 00:46:28,920 --> 00:46:34,319 Speaker 1: it's pretty bad right now in any case. And both 829 00:46:34,320 --> 00:46:40,480 Speaker 1: sides are so ideological now and ideologically driven, that our 830 00:46:40,680 --> 00:46:47,960 Speaker 1: actual real problems recede. We've got a profoundly serious problem 831 00:46:48,120 --> 00:46:51,800 Speaker 1: in education in America, and we never even talked about 832 00:46:51,840 --> 00:46:55,040 Speaker 1: it in any serious way. There's no no movement for 833 00:46:55,239 --> 00:47:00,120 Speaker 1: change or improvement or anything really, uh yet it. It's 834 00:47:00,160 --> 00:47:04,080 Speaker 1: beginning to really corrode the our ability to communicate within 835 00:47:05,000 --> 00:47:11,000 Speaker 1: as a nation. Uh. And when you when everything is ideological, 836 00:47:11,840 --> 00:47:14,080 Speaker 1: then you know you're you're on the level where nothing 837 00:47:14,200 --> 00:47:18,919 Speaker 1: is really real and it's very it's very difficult. Let's 838 00:47:18,920 --> 00:47:21,800 Speaker 1: just leave it there, Dr Shelby Steel, that bears repeating. 839 00:47:21,800 --> 00:47:27,600 Speaker 1: When everything is ideological, nothing is really seems real. Dr 840 00:47:27,640 --> 00:47:30,000 Speaker 1: Shelby Steel, come back anytime on the program. Thank you 841 00:47:30,040 --> 00:47:32,520 Speaker 1: so much, sir for making time for me today. Dr 842 00:47:32,560 --> 00:47:34,279 Speaker 1: Shelby Steel is the Robert J. And Mary and the 843 00:47:34,360 --> 00:47:37,040 Speaker 1: Ascar Senior Fellow at the Hoover Institution and the award 844 00:47:37,080 --> 00:47:39,839 Speaker 1: winning author. You got the National Book Critic Circle Award 845 00:47:40,800 --> 00:47:44,359 Speaker 1: the Content of our Character. I'm Kevin SERELLI more coming 846 00:47:44,400 --> 00:48:04,920 Speaker 1: up next year. Listening to Blueberg. You're listening to Bloomberg 847 00:48:05,040 --> 00:48:09,080 Speaker 1: Sound On with Kevin Curl on Bloomberg and one or 848 00:48:09,200 --> 00:48:12,799 Speaker 1: five point seven FM h D two. Kevin's really chief 849 00:48:12,800 --> 00:48:15,560 Speaker 1: Ashington correspondent for Bomberg Television and for Blomberger Radio. I'm 850 00:48:15,600 --> 00:48:18,040 Speaker 1: starting to pack for Cleveland. I'll be headed there for 851 00:48:18,160 --> 00:48:23,160 Speaker 1: the first presidential debate on Tuesday. On Tuesday, so you 852 00:48:23,239 --> 00:48:26,200 Speaker 1: will have continuing coveragew next week on that front as well. 853 00:48:26,239 --> 00:48:29,040 Speaker 1: It's time now for my favorite part of the program, 854 00:48:29,040 --> 00:48:31,319 Speaker 1: What is on your Radar? And I do that with 855 00:48:31,400 --> 00:48:37,840 Speaker 1: two two very very insidery politicost Tyler Deaton, Republican strategist 856 00:48:37,840 --> 00:48:42,000 Speaker 1: and fundraiser, president of Allegiance Strategies, and Laura Think She's 857 00:48:42,000 --> 00:48:46,000 Speaker 1: a Democratic strategist and founder and CEO of Rebel Communications 858 00:48:46,040 --> 00:48:50,160 Speaker 1: out in San Diego. Laura, what is on your radar? 859 00:48:51,480 --> 00:48:54,359 Speaker 1: Oh God? So I'm looking at Pennsylvania right now and 860 00:48:54,440 --> 00:48:57,640 Speaker 1: the folk find mail will come. We love it. The 861 00:48:57,800 --> 00:49:00,399 Speaker 1: hope by mail request which right now there there's sort 862 00:49:00,400 --> 00:49:02,440 Speaker 1: of two groups of swing voters. The ones that are 863 00:49:02,560 --> 00:49:05,319 Speaker 1: voted for Trump and may now look to Biden. Uh. 864 00:49:05,320 --> 00:49:08,040 Speaker 1: And then there's also the folks that didn't vote in 865 00:49:08,040 --> 00:49:11,120 Speaker 1: ten that are looking at voting and and Biden wins 866 00:49:11,160 --> 00:49:13,719 Speaker 1: those numbers those that group by a March. So I'm 867 00:49:13,719 --> 00:49:16,040 Speaker 1: looking at vote by mail request and Democrats are out 868 00:49:16,040 --> 00:49:18,759 Speaker 1: pacing Republicans in states like Pennsylvania for the number of 869 00:49:18,840 --> 00:49:21,439 Speaker 1: voters who didn't vote in twenty but who are looking 870 00:49:21,480 --> 00:49:24,840 Speaker 1: to vote in So that is is something I'm watching 871 00:49:24,880 --> 00:49:27,600 Speaker 1: for across the states. Um as well as the idea 872 00:49:27,640 --> 00:49:31,080 Speaker 1: of different ballot provisions like the naked ballots in Pennsylvania, 873 00:49:31,120 --> 00:49:35,239 Speaker 1: which Conservatives won a court battle recently. That suggests that 874 00:49:35,280 --> 00:49:37,880 Speaker 1: you have to use both the enter in the outer envelope, 875 00:49:37,880 --> 00:49:42,000 Speaker 1: the privacy envelope, and the mailing envelope. And so that's 876 00:49:42,000 --> 00:49:43,920 Speaker 1: going to be a struggle a Democrats. They're gonna have 877 00:49:43,960 --> 00:49:47,000 Speaker 1: to make sure that their voters that double up in 878 00:49:47,000 --> 00:49:50,080 Speaker 1: in advance of election day. Talk about that more, because 879 00:49:50,080 --> 00:49:51,799 Speaker 1: we've got some time. And I think this is really 880 00:49:51,840 --> 00:49:54,360 Speaker 1: interesting because I noticed that too, and I flagged that 881 00:49:54,640 --> 00:49:58,279 Speaker 1: in Pennsylvania about how if you vote by mail in 882 00:49:58,320 --> 00:50:02,000 Speaker 1: Pennsylvania you have to put it into envelope then put 883 00:50:02,000 --> 00:50:04,160 Speaker 1: it in another envelope. But just bok us through that 884 00:50:04,239 --> 00:50:08,480 Speaker 1: issue and what Democrats concerns are about that. Uh, and 885 00:50:08,560 --> 00:50:11,759 Speaker 1: Republicans are saying that they feel that they have to 886 00:50:11,760 --> 00:50:14,040 Speaker 1: do that to protect the integrity of the ballot. But 887 00:50:14,200 --> 00:50:16,720 Speaker 1: talk talk me through what some of the Democratic concerns 888 00:50:16,719 --> 00:50:20,080 Speaker 1: are about that particular provision. Well, I think the concern 889 00:50:20,200 --> 00:50:23,279 Speaker 1: is twofold um that ton was not intended. But the 890 00:50:23,360 --> 00:50:26,960 Speaker 1: concern is that one that that just a voter education issue. 891 00:50:26,960 --> 00:50:29,080 Speaker 1: I mean, Pennsylvania hasn't had in a lot of states 892 00:50:29,080 --> 00:50:31,440 Speaker 1: haven't had broad scale vote by mail, so this is 893 00:50:31,600 --> 00:50:33,640 Speaker 1: you know, the voters are you know, may not know 894 00:50:33,800 --> 00:50:36,120 Speaker 1: to use that into your envelope. You've got to make 895 00:50:36,160 --> 00:50:39,920 Speaker 1: sure everybody knows exactly how to vote to ensure that 896 00:50:39,960 --> 00:50:43,000 Speaker 1: their vote is counted and not tossed out. I think 897 00:50:43,080 --> 00:50:45,480 Speaker 1: having the more provisions you put in place, some more 898 00:50:45,560 --> 00:50:48,000 Speaker 1: rules you've got to learn, the harder it is for 899 00:50:48,120 --> 00:50:50,640 Speaker 1: voters that may not be picking every every box. You 900 00:50:50,640 --> 00:50:53,959 Speaker 1: don't want your voters confused. So I don't we don't 901 00:50:54,000 --> 00:50:57,120 Speaker 1: have that rule in California. We certainly have seen other states. 902 00:50:57,160 --> 00:50:59,799 Speaker 1: I don't think it exists in Colorado. Will vote by 903 00:50:59,800 --> 00:51:01,759 Speaker 1: minil been in place. Oregon, we're vote by mail has 904 00:51:01,800 --> 00:51:04,880 Speaker 1: been in place for quite some time, so I, you know, 905 00:51:04,960 --> 00:51:06,719 Speaker 1: I don't really see the purpose of it. But it's 906 00:51:06,760 --> 00:51:08,839 Speaker 1: you know, it's a state by state designation. So I think, 907 00:51:09,120 --> 00:51:10,640 Speaker 1: I don't know, are we gonna have make a valid 908 00:51:10,760 --> 00:51:13,800 Speaker 1: education out there in Pennsylvania? But this, you know, I 909 00:51:13,880 --> 00:51:15,760 Speaker 1: joke about this because it's kind of a funny word, 910 00:51:16,120 --> 00:51:18,840 Speaker 1: but really this is about looking at the nuance of 911 00:51:18,840 --> 00:51:21,160 Speaker 1: each state and the details that are going to be 912 00:51:21,520 --> 00:51:25,320 Speaker 1: doublished as campaigns are looking to ensure that their voters 913 00:51:25,360 --> 00:51:28,240 Speaker 1: get out to vote and that their votes are counted. Wait, Lauren, 914 00:51:28,360 --> 00:51:30,920 Speaker 1: I gotta be totally honest right now. One of our 915 00:51:30,920 --> 00:51:33,960 Speaker 1: producers just said, just put in our group chat, Wait, 916 00:51:34,000 --> 00:51:36,800 Speaker 1: didn't you get her pun? The twofold pun? And I didn't. 917 00:51:37,239 --> 00:51:39,640 Speaker 1: I didn't get it, And now I just got it. 918 00:51:39,719 --> 00:51:42,920 Speaker 1: So the two gues. So I'm I'm a little smart 919 00:51:43,000 --> 00:51:45,560 Speaker 1: at it, I know, but I now I get it. 920 00:51:45,600 --> 00:51:47,879 Speaker 1: And then in our group chat everyone got a really 921 00:51:47,880 --> 00:51:51,120 Speaker 1: good laugh about that because I guess I missed it, 922 00:51:51,160 --> 00:51:54,200 Speaker 1: but hey, you know the word play, it was very 923 00:51:54,320 --> 00:51:56,440 Speaker 1: very good. Okay, that's that's really interesting, and I think 924 00:51:56,440 --> 00:52:00,640 Speaker 1: it bears repeating just how each state has different, uh 925 00:52:01,120 --> 00:52:05,000 Speaker 1: vote by male laws, and it is incredibly different and 926 00:52:05,120 --> 00:52:08,680 Speaker 1: unique to each state, and and the state legislators are 927 00:52:08,719 --> 00:52:11,879 Speaker 1: coming into effect here so that it's hard. It's very 928 00:52:11,920 --> 00:52:15,080 Speaker 1: hard to track all of the different vote by male 929 00:52:15,320 --> 00:52:18,920 Speaker 1: regulations because they are all different, and so in the 930 00:52:18,920 --> 00:52:22,960 Speaker 1: battleground states in particular, they're all different. Okay, So that's great. 931 00:52:22,960 --> 00:52:25,359 Speaker 1: That's what's on Laura thinks radar. Tyler Deaton, what's on 932 00:52:25,400 --> 00:52:30,200 Speaker 1: your radar? Well, I'm I love that she highlighted that 933 00:52:30,360 --> 00:52:33,120 Speaker 1: I appreciate that, and look, the vote by male stuff. 934 00:52:33,120 --> 00:52:35,399 Speaker 1: It is complicated, and I wish that both parties would 935 00:52:35,480 --> 00:52:39,640 Speaker 1: just disarm a little bit and and focus on making 936 00:52:39,640 --> 00:52:42,640 Speaker 1: sure every single person can vote and educating them on 937 00:52:42,680 --> 00:52:44,400 Speaker 1: how to do it. So I love that. I have 938 00:52:44,680 --> 00:52:48,080 Speaker 1: a question for you, Kevin. Are you a Philadelphia Flyers fan? Yeah, 939 00:52:48,080 --> 00:52:51,800 Speaker 1: it's Gritti's Gritti's birthday today, That's what I was gonna 940 00:52:51,840 --> 00:52:54,799 Speaker 1: tell you. Yeah, birthday. So I got that mixed up 941 00:52:54,800 --> 00:52:57,480 Speaker 1: with Bruce Springsteen and I'm a huge Gritty fan. But 942 00:52:57,960 --> 00:53:00,200 Speaker 1: I you know that is that is good? That sign 943 00:53:00,200 --> 00:53:02,399 Speaker 1: your radar. Maybe we can get Gritty on the show 944 00:53:02,520 --> 00:53:06,080 Speaker 1: my radar, Well, do you have a policy Gritty speaks? 945 00:53:06,600 --> 00:53:08,080 Speaker 1: I think he tweets, but I don't know if he 946 00:53:08,120 --> 00:53:10,799 Speaker 1: has an actual voice for radio. That thing makes me 947 00:53:11,400 --> 00:53:14,319 Speaker 1: I think he's got a phase for television personally. I mean, 948 00:53:14,719 --> 00:53:19,360 Speaker 1: if they put I'll tell you there's I have. So 949 00:53:19,480 --> 00:53:21,600 Speaker 1: that's my fun thing on the radar. My saiest thing 950 00:53:21,600 --> 00:53:23,960 Speaker 1: on the radar is I just think people have to 951 00:53:23,960 --> 00:53:28,400 Speaker 1: remember right now, we don't technically have UM and a 952 00:53:28,719 --> 00:53:34,520 Speaker 1: legally appointed Secretary of Homeland Security and the President has 953 00:53:34,560 --> 00:53:38,600 Speaker 1: finally nominated this guy, Chad wolf His nomination is pending. 954 00:53:38,640 --> 00:53:40,759 Speaker 1: He had a hearing this week, and I just think 955 00:53:40,800 --> 00:53:43,520 Speaker 1: it's flying under everybody else's radar. So I want to 956 00:53:43,560 --> 00:53:47,640 Speaker 1: just highlight that that we have a penning nomination before 957 00:53:47,680 --> 00:53:51,200 Speaker 1: the Senate Um. The Senate Homeland Security and Government Affairs 958 00:53:51,200 --> 00:53:54,680 Speaker 1: Committee could vote on Mr. Wolfe's nomination as soon as 959 00:53:54,760 --> 00:53:57,960 Speaker 1: next week. And I just think now with everything happening 960 00:53:57,960 --> 00:54:00,840 Speaker 1: with Supreme Court, we're getting so close to the elections, 961 00:54:00,960 --> 00:54:03,000 Speaker 1: I don't know what will come of that. And obviously 962 00:54:03,040 --> 00:54:06,160 Speaker 1: if the President is not re elected, then this whole 963 00:54:06,239 --> 00:54:09,560 Speaker 1: nomination will just go up and spoke. But um, if 964 00:54:09,600 --> 00:54:11,920 Speaker 1: it doesn't, I think that's just something that's really important 965 00:54:11,960 --> 00:54:13,600 Speaker 1: for everybody to keep their eye on. This is a 966 00:54:13,680 --> 00:54:17,520 Speaker 1: very important position. Mr wolf has been a very controversial 967 00:54:18,040 --> 00:54:21,399 Speaker 1: leader at the Department of Homeland Security, and I don't 968 00:54:21,440 --> 00:54:24,200 Speaker 1: know that Republicans are going to stick by him forever. 969 00:54:24,239 --> 00:54:25,960 Speaker 1: It was just revealed this week that there have been 970 00:54:26,000 --> 00:54:29,440 Speaker 1: maybe some questionable contracts given to affirm that his wife 971 00:54:29,480 --> 00:54:31,920 Speaker 1: is at and I would just keep my eye on this. 972 00:54:32,120 --> 00:54:34,200 Speaker 1: I don't know that he is actually going to make 973 00:54:34,200 --> 00:54:37,840 Speaker 1: it across the finish line regardless of the president's election 974 00:54:37,920 --> 00:54:40,600 Speaker 1: or re election. Well can I can I just ask you, 975 00:54:40,760 --> 00:54:43,280 Speaker 1: just as a Republican, where do you think President Trump's 976 00:54:43,320 --> 00:54:49,040 Speaker 1: reelection hopes are right now? I think they're sub um 977 00:54:49,880 --> 00:54:52,960 Speaker 1: that I do. I think that, um, you know, just 978 00:54:53,000 --> 00:54:56,520 Speaker 1: going back to our Supreme Court conversation, I think that, 979 00:54:57,160 --> 00:54:58,960 Speaker 1: you know, we we were talking about some of these 980 00:54:58,960 --> 00:55:01,919 Speaker 1: purple states, and there are still purple states. I think that, 981 00:55:02,640 --> 00:55:05,080 Speaker 1: um you know, just from what I'm seeing in some 982 00:55:05,160 --> 00:55:08,920 Speaker 1: of the polling on Senate races, it might be helping 983 00:55:09,120 --> 00:55:11,800 Speaker 1: him more than hurting him in places like North Carolina 984 00:55:11,800 --> 00:55:15,400 Speaker 1: and Arizona, because while they are purple states, they still 985 00:55:15,440 --> 00:55:20,080 Speaker 1: have a reddish hue. And I just I wouldn't count 986 00:55:20,160 --> 00:55:23,560 Speaker 1: him out yet. I think that it's it's certainly not over, 987 00:55:23,600 --> 00:55:26,640 Speaker 1: and everybody should be voting. People should vote early in person, 988 00:55:26,880 --> 00:55:30,439 Speaker 1: people should vote by mail. Almost every single battleground state 989 00:55:30,480 --> 00:55:33,760 Speaker 1: now has both early voting and vote by mail options 990 00:55:33,760 --> 00:55:36,920 Speaker 1: available to voters with no excuse. Um. That's something we've 991 00:55:36,920 --> 00:55:38,960 Speaker 1: talked about a lot this year. But I think it's 992 00:55:39,000 --> 00:55:42,280 Speaker 1: important how to recognize that the only big, somewhat swingy 993 00:55:42,280 --> 00:55:45,760 Speaker 1: state left that does not have no excuse absincee voting 994 00:55:45,840 --> 00:55:49,640 Speaker 1: is Texas. Wow. And just at that point, my colleagues 995 00:55:49,640 --> 00:55:52,800 Speaker 1: Gregory Coartie, Bill Allison, and Mario Parker reported on the 996 00:55:52,880 --> 00:55:56,080 Speaker 1: terminal the President Trump's campaign is canceled four point five 997 00:55:56,120 --> 00:56:00,319 Speaker 1: million dollars and advis and key battleground states just this week. Uh. 998 00:56:00,360 --> 00:56:04,560 Speaker 1: They've canceled uh television ads and all but three states 999 00:56:04,560 --> 00:56:07,360 Speaker 1: where the races close Arizona, Florida, and Georgia. And his 1000 00:56:07,400 --> 00:56:11,000 Speaker 1: ads have disappeared from Muswin. States like Ohio and Iowa 1001 00:56:11,080 --> 00:56:14,960 Speaker 1: where he embided are essentially tied. Wow. Uh. The thing 1002 00:56:15,000 --> 00:56:17,960 Speaker 1: that's on my radar is the Justice Department proposing limits 1003 00:56:17,960 --> 00:56:19,640 Speaker 1: to text legal shield. I saw it in the Wall 1004 00:56:19,640 --> 00:56:22,480 Speaker 1: Street Journal today, Ryan Tracy and Brent Kendall. In the 1005 00:56:22,480 --> 00:56:25,800 Speaker 1: Wall Street Journal, the Justice Department proposed to Congress ways 1006 00:56:25,840 --> 00:56:29,680 Speaker 1: to curb longstanding legal protections for Internet companies such as Facebook, 1007 00:56:29,880 --> 00:56:34,160 Speaker 1: Alphabet and Twitter uh and forced them to shoulder more 1008 00:56:34,239 --> 00:56:37,799 Speaker 1: responsibility for managing content on their platforms. It comes mind 1009 00:56:37,840 --> 00:56:40,640 Speaker 1: you as lawmakers on Capitol Hill, are you know, thinking 1010 00:56:40,680 --> 00:56:44,439 Speaker 1: about issuing subpoenas for all the big tech CEOs? Uh 1011 00:56:44,480 --> 00:56:47,239 Speaker 1: for antitrust cases? So the big tech story has been 1012 00:56:47,280 --> 00:56:49,120 Speaker 1: really on the on the minds of a lot of 1013 00:56:49,120 --> 00:56:53,280 Speaker 1: policymakers and both parties. Uh, throughout the last couple of days. 1014 00:56:53,560 --> 00:56:56,120 Speaker 1: My thanks to Tyler Deaton, My thanks to Laura. Think 1015 00:56:56,320 --> 00:56:58,000 Speaker 1: we'll have to get Ben Bernie on and to walk 1016 00:56:58,080 --> 00:57:00,319 Speaker 1: us through some of the big tech stories. Uh. And 1017 00:57:00,920 --> 00:57:04,160 Speaker 1: thank you to you as well for listening. I'm Kevin Cirelli, 1018 00:57:04,239 --> 00:57:07,399 Speaker 1: Chief Washington correspondent for Bloomberg Television and for Bloomberg Radio. 1019 00:57:07,400 --> 00:57:11,520 Speaker 1: Happy Birthday, Gritty, Happy belated birthday, Bruce Springsteen, tomorrow full 1020 00:57:11,520 --> 00:57:13,360 Speaker 1: Supreme Court watch. You're listening to Bloomberg