1
00:00:00,080 --> 00:00:13,040
Speaker 1: Ye, Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene

2
00:00:13,480 --> 00:00:16,960
Speaker 1: Jai Ley. We bring you insight from the best in economics, finance,

3
00:00:17,040 --> 00:00:23,520
Speaker 1: investment and international relations. Find Bloomberg Surveillance on Apple Podcasts, SoundCloud,

4
00:00:23,600 --> 00:00:32,720
Speaker 1: Bloomberg dot Com and of course on the Bloomberg Joining

5
00:00:32,800 --> 00:00:34,520
Speaker 1: Us Now, I'm pleased to say in a World Cup

6
00:00:34,560 --> 00:00:37,519
Speaker 1: free zone because the Netherlands aren't in it is um

7
00:00:37,560 --> 00:00:41,839
Speaker 1: Philam Bouncer, City Special Economic Advisor and of course a

8
00:00:41,960 --> 00:00:44,920
Speaker 1: former policymaker at the Bank of England. Back on thread

9
00:00:45,000 --> 00:00:47,479
Speaker 1: Needle Street, Philliam, Good morning to you, sir, Good morning.

10
00:00:47,600 --> 00:00:50,440
Speaker 1: What do you think of the latest trade handlines. Well,

11
00:00:50,520 --> 00:00:53,720
Speaker 1: the w DO story is of course worrying, even though

12
00:00:54,200 --> 00:00:58,279
Speaker 1: I interpreted this more noise than than substance. Remember, there

13
00:00:58,320 --> 00:01:01,600
Speaker 1: is President for the West on the President Trump is

14
00:01:01,680 --> 00:01:04,600
Speaker 1: drawing for international agreements right when we had the Paris

15
00:01:04,600 --> 00:01:08,720
Speaker 1: Accord that was abandoned. Admittedly hadn't been legislated yet, but

16
00:01:09,080 --> 00:01:14,319
Speaker 1: my view is that this is part of aggressive rhetoric

17
00:01:14,680 --> 00:01:18,560
Speaker 1: to get something from the w t O, to get

18
00:01:18,600 --> 00:01:23,520
Speaker 1: it to say, declare cursy manipulation to be an actionable

19
00:01:23,560 --> 00:01:26,280
Speaker 1: offense within the UCO which she then can use to

20
00:01:26,400 --> 00:01:28,840
Speaker 1: hit other country over the head with. What do you

21
00:01:28,840 --> 00:01:30,960
Speaker 1: think the w T needs to do? How does it

22
00:01:31,000 --> 00:01:33,039
Speaker 1: need to change to accommodate some of the concerns the

23
00:01:33,080 --> 00:01:38,800
Speaker 1: United States has. It's hard to see how the CEO

24
00:01:39,760 --> 00:01:44,640
Speaker 1: could change, not other than dissolving itself in order to

25
00:01:44,680 --> 00:01:48,840
Speaker 1: media objectives of of of Mr Trump in the in

26
00:01:48,880 --> 00:01:52,720
Speaker 1: the US, I think it would be nice, Uh, there's

27
00:01:52,760 --> 00:01:57,600
Speaker 1: not the Trump position, but to have services brought firmly

28
00:01:57,800 --> 00:02:04,000
Speaker 1: under its no under its cover, so that the US,

29
00:02:04,080 --> 00:02:08,080
Speaker 1: which is a big exporter of services and growing export

30
00:02:08,160 --> 00:02:12,320
Speaker 1: or services, can benefit from the interest of trading arrangement

31
00:02:12,360 --> 00:02:17,880
Speaker 1: the way goods exporters do within trade and within where

32
00:02:17,919 --> 00:02:21,680
Speaker 1: we are now, there's the European view as well. Trade

33
00:02:21,680 --> 00:02:25,480
Speaker 1: has been US China, China, US US China. How should

34
00:02:25,560 --> 00:02:29,080
Speaker 1: Europe respond to all this? Well, Europe is really in

35
00:02:29,120 --> 00:02:34,040
Speaker 1: the in the cross head um, it's more open than

36
00:02:34,240 --> 00:02:37,760
Speaker 1: than the US. It's in terms of export and input

37
00:02:37,840 --> 00:02:42,080
Speaker 1: chose of GDP. It's basically is open as China, and

38
00:02:43,639 --> 00:02:48,760
Speaker 1: it is vulnerable to everything that the US is imposing

39
00:02:49,360 --> 00:02:51,760
Speaker 1: on on China and the rest of the world and

40
00:02:51,800 --> 00:02:54,320
Speaker 1: has imposed so far. And what in the way China

41
00:02:54,400 --> 00:02:58,880
Speaker 1: is retaliating if only to the diversion of exported peoplesly

42
00:02:58,960 --> 00:03:03,040
Speaker 1: went to the US, two UH to Europe, which would

43
00:03:03,080 --> 00:03:08,680
Speaker 1: be disruptive there. So I think they have to keep

44
00:03:08,720 --> 00:03:15,160
Speaker 1: beating the multilateral drum and UM no take measured steps

45
00:03:15,200 --> 00:03:19,800
Speaker 1: to respond to provocations from the US rather than engage

46
00:03:19,919 --> 00:03:23,840
Speaker 1: in a pointless for that film, what is the multilateral

47
00:03:24,040 --> 00:03:28,720
Speaker 1: drum and how productive is beating it? Well, it has

48
00:03:29,120 --> 00:03:37,840
Speaker 1: given US seventy years almost of unparalleled prosperity. So UM

49
00:03:38,920 --> 00:03:43,560
Speaker 1: the notion that trade barriers are there to be removed

50
00:03:44,200 --> 00:03:49,080
Speaker 1: and that they're victims of trade liberalization or those who

51
00:03:49,080 --> 00:03:52,280
Speaker 1: don't share in the games must be compensated to domestic

52
00:03:52,400 --> 00:03:58,000
Speaker 1: fiscal mechanisms and so domestic educational training programs. That message

53
00:03:58,280 --> 00:04:01,880
Speaker 1: has to be aid very clear. I think overwhelmingly most

54
00:04:01,880 --> 00:04:03,680
Speaker 1: of our listeners would agree with you. I also think

55
00:04:03,720 --> 00:04:05,760
Speaker 1: they'd agree with you that over the last seventy years,

56
00:04:06,000 --> 00:04:08,760
Speaker 1: liberalizing trade regimes is something that has really helped in

57
00:04:08,840 --> 00:04:11,000
Speaker 1: terms of prosperity, not just in the developed world, but

58
00:04:11,040 --> 00:04:13,760
Speaker 1: elsewhere as well. I think where people have an issue

59
00:04:13,800 --> 00:04:16,320
Speaker 1: villain is that one country came along and didn't play

60
00:04:16,400 --> 00:04:19,239
Speaker 1: by the rules and didn't liberalize quickly enough. And that's China.

61
00:04:19,320 --> 00:04:23,160
Speaker 1: The flying the ointment of the last seven decades is

62
00:04:23,200 --> 00:04:27,680
Speaker 1: the Chinese economy. Well, there are many sinners in the

63
00:04:27,760 --> 00:04:31,480
Speaker 1: international trade field, right China is just the most visible

64
00:04:31,520 --> 00:04:36,080
Speaker 1: one because it's by far the largest but most emerging markets.

65
00:04:36,480 --> 00:04:40,799
Speaker 1: About the protectionist which makes sense as a country develops

66
00:04:40,839 --> 00:04:42,800
Speaker 1: to have barriers to entry to which that they can

67
00:04:42,800 --> 00:04:45,600
Speaker 1: protect industries and do well in the early stages. I

68
00:04:45,680 --> 00:04:48,919
Speaker 1: just don't think that we can compare China to say Indonesia. No.

69
00:04:49,000 --> 00:04:53,160
Speaker 1: But I'm talking not just China, I'm talking uh. I'm

70
00:04:53,160 --> 00:04:55,479
Speaker 1: talking Brazil as well, which is at least as protection

71
00:04:55,560 --> 00:05:00,359
Speaker 1: is as China, probably more so um And so yes

72
00:05:00,800 --> 00:05:04,800
Speaker 1: um uh. That is an infant industry protection argument which

73
00:05:04,880 --> 00:05:08,599
Speaker 1: I think k doesn't hold water. Way to protect industry

74
00:05:08,880 --> 00:05:13,160
Speaker 1: is to use domestic fiscal uh and reglatory measures, not

75
00:05:13,279 --> 00:05:16,040
Speaker 1: international state batries. If you're just joining US worldwide and

76
00:05:16,080 --> 00:05:19,599
Speaker 1: coast to coast across America, John Farrowe and Tom Keenan

77
00:05:19,640 --> 00:05:22,800
Speaker 1: with his Professor Powder, we have the gentleman from England

78
00:05:22,960 --> 00:05:26,760
Speaker 1: in Parugia, uh and also Professor Powder of Belgium in

79
00:05:26,800 --> 00:05:30,880
Speaker 1: the Netherlands. And you mentioned rules and trade, Professor, I'd

80
00:05:30,920 --> 00:05:36,520
Speaker 1: like to go to section thirty two, Item five, paragraphs

81
00:05:36,600 --> 00:05:39,560
Speaker 1: A to C, and down at the bottom. It says

82
00:05:39,600 --> 00:05:43,000
Speaker 1: fair play conduct of the teams based on yellow and

83
00:05:43,040 --> 00:05:47,040
Speaker 1: red cards received and all group matches. Would you, too,

84
00:05:47,120 --> 00:05:53,400
Speaker 1: please explain what would never occur in American sport Japan folks,

85
00:05:53,440 --> 00:05:56,880
Speaker 1: from those of you that missed this sand bagged game.

86
00:05:57,400 --> 00:06:00,240
Speaker 1: There's no other way to put it. So basically, your

87
00:06:00,360 --> 00:06:04,080
Speaker 1: level on points, when you're level on goal difference, when

88
00:06:04,120 --> 00:06:06,600
Speaker 1: you're level on head to head. The way they distinguish

89
00:06:06,680 --> 00:06:09,080
Speaker 1: between who goes to the next round and who stays

90
00:06:09,760 --> 00:06:14,040
Speaker 1: um down and goes home is fair play. Villa, you

91
00:06:14,080 --> 00:06:16,720
Speaker 1: know the number of red and yellow cards. I mean,

92
00:06:16,720 --> 00:06:19,320
Speaker 1: it's it's a bit ridiculous. But I don't get how

93
00:06:19,360 --> 00:06:21,200
Speaker 1: else they can really get around what did they flipping

94
00:06:21,240 --> 00:06:24,000
Speaker 1: a coin actually think this is good? Excuse me? Can't

95
00:06:24,040 --> 00:06:26,320
Speaker 1: they have like a shootout or actually like what they've

96
00:06:26,320 --> 00:06:29,000
Speaker 1: got to arrange to go somewhere else and and have

97
00:06:29,080 --> 00:06:31,760
Speaker 1: a shoot sound? I don't know, to me, how does

98
00:06:31,839 --> 00:06:34,719
Speaker 1: people let this stuff happen? You're offended by this? I

99
00:06:34,839 --> 00:06:39,800
Speaker 1: like the fair play? Do you clearly do you know

100
00:06:39,839 --> 00:06:42,880
Speaker 1: like fair play where like they move on because they

101
00:06:42,960 --> 00:06:47,560
Speaker 1: got less yellow cards. Yes, if all things are equal, yes,

102
00:06:48,640 --> 00:06:51,240
Speaker 1: but but in the next round they there's no like

103
00:06:51,400 --> 00:06:53,960
Speaker 1: ties or anything. No, no, no, it goes to extra time.

104
00:06:56,120 --> 00:06:58,200
Speaker 1: It's just a flute because they both played at the

105
00:06:58,240 --> 00:07:03,320
Speaker 1: same time, like's it was a coincidence. It was a coincidence.

106
00:07:03,360 --> 00:07:05,400
Speaker 1: It was very much a coincidence. The interesting thing about

107
00:07:05,480 --> 00:07:08,760
Speaker 1: England and that game is that they lose to Belgium.

108
00:07:08,800 --> 00:07:10,920
Speaker 1: So they had a choice to make. You either play

109
00:07:11,520 --> 00:07:14,400
Speaker 1: hard game against Columbia and then have an easy half

110
00:07:14,400 --> 00:07:16,800
Speaker 1: an easy route to the final after that, or you

111
00:07:16,880 --> 00:07:20,120
Speaker 1: play an easy game against Japan and then have a

112
00:07:20,240 --> 00:07:23,800
Speaker 1: much harder route to the final. But didn't do that.

113
00:07:24,560 --> 00:07:30,480
Speaker 1: Belgium played in sand bag. It is always bad policy.

114
00:07:30,560 --> 00:07:35,440
Speaker 1: I think, do not do your utmost to win any

115
00:07:35,600 --> 00:07:41,080
Speaker 1: given games. Shown improven that England is beautible and the

116
00:07:41,160 --> 00:07:44,119
Speaker 1: telegraph I believe it was a telegraph. Jan Faro today

117
00:07:44,240 --> 00:07:49,120
Speaker 1: highlights that psychologically this will change England because the players

118
00:07:49,240 --> 00:07:52,640
Speaker 1: know they slept walk through bowters Belgium. Right, it's gonna

119
00:07:52,680 --> 00:07:54,640
Speaker 1: be it's gonna be tough to beat Columbia. I don't

120
00:07:54,640 --> 00:07:57,120
Speaker 1: think we should sort of, you know, underestimate the Colombians.

121
00:07:57,200 --> 00:08:00,400
Speaker 1: It's gonna be tough to I think the could well

122
00:08:00,440 --> 00:08:07,760
Speaker 1: be exit for for England um after Brexit englectit. There

123
00:08:07,760 --> 00:08:12,480
Speaker 1: we go and then bound to just cool in glexit

124
00:08:12,960 --> 00:08:17,880
Speaker 1: in the World Cup. I'm loving that. Villain bartass City,

125
00:08:18,120 --> 00:08:23,120
Speaker 1: especially Advisor stick with it. Would never happened in American Tom,

126
00:08:23,160 --> 00:08:25,000
Speaker 1: I agree with you. Villiam agrees with it. I actually

127
00:08:25,040 --> 00:08:29,000
Speaker 1: agree with you. That's all there is. The w T

128
00:08:29,160 --> 00:08:30,880
Speaker 1: has got to change, FIFA's got to change. We're doing

129
00:08:30,920 --> 00:08:33,720
Speaker 1: it all this morning. The governor of Kazakhstan is doing

130
00:08:33,760 --> 00:08:38,360
Speaker 1: better in his bracket than I am. Really your bracket, Kat,

131
00:08:55,920 --> 00:09:00,400
Speaker 1: personal income, Yeah, not a whole lot. Trying to make

132
00:09:00,440 --> 00:09:02,760
Speaker 1: something up here and I can't do it. You're over

133
00:09:02,840 --> 00:09:06,400
Speaker 1: your PC deflator uppe tick. That's about all I got.

134
00:09:06,760 --> 00:09:08,400
Speaker 1: This is gonna be a joy for this half hour.

135
00:09:09,240 --> 00:09:12,199
Speaker 1: We're gonna try to go beneath the usual blatherer on

136
00:09:12,400 --> 00:09:15,120
Speaker 1: Vienna and oil, and we can do that with a

137
00:09:15,160 --> 00:09:19,359
Speaker 1: former vice chairman of Bank of America, Mr Petrie, Thomas Petrie,

138
00:09:19,760 --> 00:09:22,400
Speaker 1: who not only has a pedigree out of West Point,

139
00:09:22,480 --> 00:09:24,400
Speaker 1: but is dark in the door of the Colorado School

140
00:09:24,400 --> 00:09:28,720
Speaker 1: of Mines with an honorary doctorate years ago. Tell us

141
00:09:28,760 --> 00:09:32,480
Speaker 1: about the kids coming out of the School of Minds

142
00:09:32,679 --> 00:09:36,480
Speaker 1: and what they're going into in a heart, Hydrocarbon's Colorado

143
00:09:36,520 --> 00:09:39,200
Speaker 1: School of Mines was just ranked the best college in Colorado.

144
00:09:39,480 --> 00:09:42,000
Speaker 1: I say this after too many three two beers at

145
00:09:42,000 --> 00:09:46,040
Speaker 1: Tallagy's up in Boulder at Colorado and their great aerospace

146
00:09:46,080 --> 00:09:50,199
Speaker 1: engineering program. But the bottom line is this one of

147
00:09:50,200 --> 00:09:55,240
Speaker 1: the schools you're affiliated with is the nirvana of hydrocarbon engineering.

148
00:09:55,840 --> 00:09:59,000
Speaker 1: What industry are they going into when they're going into

149
00:09:59,040 --> 00:10:02,920
Speaker 1: a very different end street then uh, many of the

150
00:10:03,160 --> 00:10:08,760
Speaker 1: uh many of their predecessors. This industry is was reinvented

151
00:10:08,800 --> 00:10:12,600
Speaker 1: with the shale revolution and UH, and it coincidence with

152
00:10:12,679 --> 00:10:16,840
Speaker 1: a kind of technology we have today with information and

153
00:10:17,080 --> 00:10:21,480
Speaker 1: handling and processing of information. So they're coming out with

154
00:10:21,559 --> 00:10:26,400
Speaker 1: a tool kit that is beyond the tool kits known

155
00:10:27,120 --> 00:10:29,920
Speaker 1: uh even ten years ago, even ten years and so

156
00:10:30,000 --> 00:10:32,840
Speaker 1: within this, within this tool kit is what you just

157
00:10:32,920 --> 00:10:36,040
Speaker 1: observed in John Farrow and I just observed in Vienna.

158
00:10:36,360 --> 00:10:39,320
Speaker 1: Vienna looks like something out of Daniel Jurgen's Chapter three

159
00:10:39,320 --> 00:10:41,400
Speaker 1: of the Prize. I mean, it looks like it's out

160
00:10:41,400 --> 00:10:44,520
Speaker 1: of eighteen seventy or nineteen thirty. I'll let you pick

161
00:10:44,880 --> 00:10:47,920
Speaker 1: how out of touch is OPEC in the cartel. When

162
00:10:47,920 --> 00:10:51,280
Speaker 1: you see the rocket scientists coming out of school of minds, well,

163
00:10:51,520 --> 00:10:55,560
Speaker 1: you know they they they are struggling. And then they've

164
00:10:55,600 --> 00:10:59,040
Speaker 1: been struggling to want to understand what the shale revolution

165
00:10:59,080 --> 00:11:01,880
Speaker 1: was about and to get and say, well, if if

166
00:11:01,880 --> 00:11:05,360
Speaker 1: they've got it, we must have it because it's source rock,

167
00:11:05,960 --> 00:11:08,800
Speaker 1: and uh, and how do we get at it? And

168
00:11:08,800 --> 00:11:12,440
Speaker 1: and they're struggling mainly because there the business model that

169
00:11:12,559 --> 00:11:17,440
Speaker 1: they have with state oil companies UM doesn't particularly incentivize

170
00:11:17,480 --> 00:11:21,719
Speaker 1: the minds of their people. Now, technologically they can they

171
00:11:21,720 --> 00:11:23,920
Speaker 1: can play catch up on this and and and to

172
00:11:24,040 --> 00:11:28,400
Speaker 1: their credit Saudio Ramco as an example, it prides itself

173
00:11:28,440 --> 00:11:33,880
Speaker 1: on its technological capability and they they internalize that when

174
00:11:33,880 --> 00:11:36,920
Speaker 1: they took over a Ramco back in the late seventies.

175
00:11:37,559 --> 00:11:39,839
Speaker 1: But but this one is a challenging one and so

176
00:11:39,840 --> 00:11:41,920
Speaker 1: far they haven't had a lot of rewards. Always been

177
00:11:41,920 --> 00:11:44,719
Speaker 1: the story of the last decade, this technological improvement, that's

178
00:11:44,760 --> 00:11:47,040
Speaker 1: just ment. A place like the United States is now

179
00:11:47,080 --> 00:11:50,480
Speaker 1: swimming in oil. But I find it amazing how quickly

180
00:11:50,480 --> 00:11:53,000
Speaker 1: the conversation could turn. In the commodity market and in

181
00:11:53,040 --> 00:11:55,880
Speaker 1: the crude market, we go from oversupply too much, too much,

182
00:11:55,920 --> 00:11:57,920
Speaker 1: too much, too much. And now when I speak to

183
00:11:57,960 --> 00:12:01,240
Speaker 1: the guys like you, it's like the ain't gonna be enough. Well,

184
00:12:02,160 --> 00:12:04,000
Speaker 1: I'm not sure i'd say that, but I'd say that

185
00:12:04,559 --> 00:12:08,160
Speaker 1: we've got to develop more supply using these new tools,

186
00:12:08,200 --> 00:12:11,520
Speaker 1: because we are in a position where at the moment

187
00:12:11,559 --> 00:12:14,360
Speaker 1: we've got global demand growth that came along and surprised

188
00:12:14,760 --> 00:12:18,440
Speaker 1: against the backdrop of Venezuela in a financial meltdown or

189
00:12:19,400 --> 00:12:24,000
Speaker 1: really a systemic meltown humanitarian crisis as well. When you're

190
00:12:24,040 --> 00:12:27,720
Speaker 1: rascheting food to your people, you know the interesting numbers.

191
00:12:28,440 --> 00:12:31,840
Speaker 1: They have almost the same population as the inhabitants of

192
00:12:31,840 --> 00:12:35,760
Speaker 1: Saudi Arabia. They have almost the same stated reserves roundly

193
00:12:35,920 --> 00:12:42,120
Speaker 1: think to se um barrels um and and the same

194
00:12:42,160 --> 00:12:45,400
Speaker 1: populations thirty million plus a minus a million, and yet

195
00:12:45,720 --> 00:12:50,760
Speaker 1: one case systemic impoverishment, another case just the opposite. Do

196
00:12:50,800 --> 00:12:53,240
Speaker 1: you think we are going to have significant supply issues? Tho?

197
00:12:53,240 --> 00:12:55,240
Speaker 1: I would tell them that that will ultimately made this

198
00:12:55,320 --> 00:12:57,880
Speaker 1: crude prices it's called to go high. Well, the price

199
00:12:58,120 --> 00:13:01,360
Speaker 1: is the ultimate allocator when that happened, and yes, Uh,

200
00:13:01,920 --> 00:13:05,280
Speaker 1: but but the other part here, something else is happening,

201
00:13:05,400 --> 00:13:11,199
Speaker 1: and both China and Russia are very motivated. UH sanctions

202
00:13:11,200 --> 00:13:15,199
Speaker 1: on Russia have prompted a much closer relationship with China

203
00:13:15,280 --> 00:13:18,000
Speaker 1: than they would otherwise have. China has plenty of excess

204
00:13:18,040 --> 00:13:21,040
Speaker 1: money to put into the Russian oil industry, so that

205
00:13:21,160 --> 00:13:23,920
Speaker 1: the development of Russian supplies is going to come along

206
00:13:23,960 --> 00:13:28,280
Speaker 1: to in Russia other technology as well. They they that's

207
00:13:28,280 --> 00:13:31,760
Speaker 1: a good question. It remains to be seen how well

208
00:13:31,920 --> 00:13:34,400
Speaker 1: the big problem in Russia, and I talked about in

209
00:13:34,440 --> 00:13:38,640
Speaker 1: my book Following Oil top down, top down management of

210
00:13:38,679 --> 00:13:42,160
Speaker 1: these things without a bottom up bubbling and validation of

211
00:13:42,160 --> 00:13:47,200
Speaker 1: what you're doing, it gives you ultimately to Petrie with us,

212
00:13:47,600 --> 00:13:51,000
Speaker 1: with Petrie UH partners on the hydrocarbons and where we

213
00:13:51,040 --> 00:13:54,360
Speaker 1: are really, John. One of the surprises here at June

214
00:13:55,040 --> 00:14:06,400
Speaker 1: is brand quietly back through seventy without much discussion. Fifty yeah, yeah,

215
00:14:06,440 --> 00:14:08,400
Speaker 1: Tom Patree putting out for anyone that didn't hit that

216
00:14:08,480 --> 00:14:12,600
Speaker 1: the eleven dollars spread becoming five over the last few weeks.

217
00:14:12,640 --> 00:14:15,679
Speaker 1: We're at sixty. I don't know sixty sixty six is

218
00:14:15,720 --> 00:14:17,800
Speaker 1: we're up ten dollars over the first half of the year,

219
00:14:34,320 --> 00:14:37,600
Speaker 1: joining us now is she prepares for Face the Nation

220
00:14:37,680 --> 00:14:39,640
Speaker 1: Sunday morning. You Chris, you can hear it on Bloomberg

221
00:14:39,680 --> 00:14:43,400
Speaker 1: Radio Sunday afternoon. Is Margaret Brennan and Margaret I go

222
00:14:43,480 --> 00:14:47,000
Speaker 1: out on the Twitter feed of CBS News and there

223
00:14:47,080 --> 00:14:50,880
Speaker 1: is Nora O'Donnell trying to get us through another shooting

224
00:14:51,200 --> 00:14:55,520
Speaker 1: in Annapolis. Nora on the streets of Annapolis. Uh, this morning,

225
00:14:55,760 --> 00:14:58,480
Speaker 1: and I like what your tweet said, with great grace.

226
00:14:58,680 --> 00:15:01,360
Speaker 1: Authorities are still p us to seeing the crime scene.

227
00:15:01,880 --> 00:15:07,800
Speaker 1: How will you process Annapolis on Face the Nations Sunday morning? Well,

228
00:15:08,000 --> 00:15:12,160
Speaker 1: we will, um, unfortunately carry on what has become a

229
00:15:12,240 --> 00:15:14,840
Speaker 1: kind of morbid tradition on the Show of China honor

230
00:15:14,880 --> 00:15:17,760
Speaker 1: the names of those been killed in this latest mass

231
00:15:17,800 --> 00:15:20,160
Speaker 1: shoo during this time, I know it's h it's close

232
00:15:20,240 --> 00:15:22,640
Speaker 1: to home for so many journalists and so many news

233
00:15:22,720 --> 00:15:28,040
Speaker 1: rooms across the country. UM, because these people were attacked

234
00:15:28,120 --> 00:15:30,280
Speaker 1: at their place of work, and it would appear the

235
00:15:30,320 --> 00:15:35,880
Speaker 1: motive is because this individual was upset at an article

236
00:15:35,920 --> 00:15:40,280
Speaker 1: published about him about his guilty plea to harassment charges. UM.

237
00:15:41,440 --> 00:15:44,200
Speaker 1: And so we will acknowledge them. We will talk about it,

238
00:15:44,280 --> 00:15:47,520
Speaker 1: but we will also talk about the news of what

239
00:15:47,800 --> 00:15:50,720
Speaker 1: looks to be a long, hot summer here in Washington

240
00:15:50,840 --> 00:15:53,080
Speaker 1: when it comes to this battle over the next Supreme

241
00:15:53,080 --> 00:15:55,920
Speaker 1: Court justice. Oh, you've got to look at that. How

242
00:15:56,000 --> 00:15:59,320
Speaker 1: soon within the reporting of CBS. How soon until the

243
00:15:59,360 --> 00:16:02,680
Speaker 1: president the answers, you know, with the mid terms, he's

244
00:16:02,680 --> 00:16:06,720
Speaker 1: in a rush, isn't he. Uh, he is in a

245
00:16:06,840 --> 00:16:10,200
Speaker 1: rush for a variety of reasons. As you just indicated.

246
00:16:10,320 --> 00:16:13,520
Speaker 1: This is something that could really get people to uh

247
00:16:13,640 --> 00:16:15,720
Speaker 1: go to the mattresses, go to their corners, and maybe

248
00:16:15,720 --> 00:16:19,640
Speaker 1: go to the voting booths in November, because, um, there

249
00:16:19,720 --> 00:16:22,560
Speaker 1: is so much significance around a Supreme Court justice and

250
00:16:22,800 --> 00:16:26,960
Speaker 1: some of the culture war issues, particularly abortion in terms

251
00:16:27,040 --> 00:16:32,040
Speaker 1: of uh, the possibility of relitigating what Sender Collins has says,

252
00:16:32,360 --> 00:16:35,400
Speaker 1: uh settled law in terms of Roe v. Waite. But

253
00:16:36,000 --> 00:16:38,560
Speaker 1: what we're gonna be talking about it looks like in

254
00:16:38,680 --> 00:16:41,160
Speaker 1: terms of the timeline from the president's pick, he said

255
00:16:41,160 --> 00:16:43,360
Speaker 1: he's already got this list. He's already would look down

256
00:16:43,360 --> 00:16:46,680
Speaker 1: it's already public. But we may get a name before

257
00:16:46,760 --> 00:16:50,520
Speaker 1: he departs for Europe, which is around the tens or

258
00:16:50,520 --> 00:16:53,680
Speaker 1: eleven So this is in the coming days, and the

259
00:16:53,720 --> 00:16:56,960
Speaker 1: White House is already courting some of those uh centrist

260
00:16:57,000 --> 00:16:59,280
Speaker 1: Democrats who have a D next to their name but

261
00:16:59,360 --> 00:17:02,600
Speaker 1: comes from that have voted for Trump. I'm talking about

262
00:17:02,640 --> 00:17:05,600
Speaker 1: people like Joe Manchin of West Virginia. And they're also

263
00:17:05,760 --> 00:17:09,480
Speaker 1: courting some key Republican votes like Senator Collins, who I

264
00:17:09,520 --> 00:17:13,399
Speaker 1: mentioned said for her, this is settled law. Margaret. I'm

265
00:17:13,440 --> 00:17:16,800
Speaker 1: sure you've heard the reports that from Axios at least

266
00:17:16,800 --> 00:17:20,800
Speaker 1: that the President may be interested in withdrawing the United

267
00:17:20,840 --> 00:17:24,600
Speaker 1: States from the World Trade Organization. What's the perspective going

268
00:17:24,640 --> 00:17:27,679
Speaker 1: to be for trade? And of course, uh, you know,

269
00:17:27,720 --> 00:17:29,639
Speaker 1: we've gone through a week in which the President was

270
00:17:29,680 --> 00:17:35,200
Speaker 1: in Wisconsin because of the new Fox con facility, right,

271
00:17:35,280 --> 00:17:39,280
Speaker 1: and you had that uh decision from Treasury saying that

272
00:17:39,320 --> 00:17:41,840
Speaker 1: President is going to ask Congress to try to rule

273
00:17:41,920 --> 00:17:45,359
Speaker 1: on investment restrictions coming out of China rather than going

274
00:17:45,359 --> 00:17:47,760
Speaker 1: with the harsher measures that the President had been weighing.

275
00:17:48,359 --> 00:17:50,920
Speaker 1: Um and that was a win for the Treasury Secretary,

276
00:17:50,960 --> 00:17:53,440
Speaker 1: who today is I guess camping down some of these

277
00:17:53,480 --> 00:17:57,000
Speaker 1: reports of w t O withdraw what we know that

278
00:17:57,040 --> 00:18:00,119
Speaker 1: he is in a very different camp ideologically than the

279
00:18:00,160 --> 00:18:03,359
Speaker 1: trade advisors like Peter Navarro on this or the U

280
00:18:03,400 --> 00:18:07,680
Speaker 1: s TR representative Lightheiser, but really of him. It's interesting

281
00:18:07,720 --> 00:18:09,760
Speaker 1: because if you put this into scheme something I've been

282
00:18:09,800 --> 00:18:12,080
Speaker 1: looking at just across this week. You have the President

283
00:18:12,200 --> 00:18:14,720
Speaker 1: standing at one of those rallies this week saying the

284
00:18:14,760 --> 00:18:18,879
Speaker 1: European Union was put together to sort of built the US,

285
00:18:19,000 --> 00:18:22,480
Speaker 1: take advantage of the US economically. You've got the concern

286
00:18:22,520 --> 00:18:25,160
Speaker 1: about the w d O, and now we're looking at

287
00:18:25,600 --> 00:18:28,159
Speaker 1: what makes a lot of people concerned. What's going to

288
00:18:28,240 --> 00:18:30,920
Speaker 1: happen at this next NATO meeting when the President goes

289
00:18:30,960 --> 00:18:34,280
Speaker 1: there to meet with our treaty allies, and does he

290
00:18:34,480 --> 00:18:37,560
Speaker 1: have the kind of knockdown, drag a conversation he did

291
00:18:37,600 --> 00:18:40,959
Speaker 1: at the G seven where uh he looks like he

292
00:18:41,119 --> 00:18:46,679
Speaker 1: is being um at odds and uh dividing our alliance

293
00:18:46,720 --> 00:18:49,040
Speaker 1: there before he goes into a meeting with an adversary,

294
00:18:49,119 --> 00:18:51,800
Speaker 1: Vladimir Putin. There's a lot of concern among our European

295
00:18:51,840 --> 00:18:55,600
Speaker 1: allies here that our closest friends are being alienated and

296
00:18:55,600 --> 00:18:58,639
Speaker 1: our adversaries are being drawn closed. Margaret Brendon, thank you

297
00:18:58,720 --> 00:19:01,240
Speaker 1: so much. You can see facing nation, see it on

298
00:19:01,320 --> 00:19:04,480
Speaker 1: CBS Sunday Morning here at on Bloomberg Radio two pm.

299
00:19:04,560 --> 00:19:07,199
Speaker 1: We do that in New York, Washington, d C. And

300
00:19:07,200 --> 00:19:10,720
Speaker 1: now Bloomberg One of six one FM, Boston, Newberry Report,

301
00:19:11,400 --> 00:19:15,280
Speaker 1: Face the Nation two pm, as well as Metro West

302
00:19:15,320 --> 00:19:18,560
Speaker 1: in the South Shore. Just given the whole thing, you know,

303
00:19:19,680 --> 00:19:23,840
Speaker 1: it was like the circle, the circle. You know more

304
00:19:23,840 --> 00:19:41,320
Speaker 1: about it than I don't. Normally we speak with Brian Kelly,

305
00:19:41,359 --> 00:19:45,359
Speaker 1: the Points Guy, a revolutionized ear travel in America, but

306
00:19:45,480 --> 00:19:48,399
Speaker 1: he's unfortunately going to Mauritius on British Air today for

307
00:19:48,400 --> 00:19:51,840
Speaker 1: a hundred and twenty two dollars, so instead speaking to

308
00:19:51,920 --> 00:19:56,199
Speaker 1: us the famous and handsome Julian Mark Keel with the

309
00:19:56,240 --> 00:19:58,640
Speaker 1: Points Guy. Good morning, how are you okay? I got

310
00:19:58,640 --> 00:20:02,280
Speaker 1: a couple of fundamental questions, Tim and I have observed

311
00:20:02,320 --> 00:20:08,560
Speaker 1: that every seat is taken, aren't by definition? They want

312
00:20:08,600 --> 00:20:13,240
Speaker 1: to raise prices until there's a few empty seats. Absolutely,

313
00:20:13,280 --> 00:20:16,680
Speaker 1: and it is harder today than it was several years

314
00:20:16,680 --> 00:20:21,200
Speaker 1: ago to redeem points and miles for airline flights, simply

315
00:20:21,240 --> 00:20:24,480
Speaker 1: because there's more people traveling. The airlines want to redeem

316
00:20:24,720 --> 00:20:27,040
Speaker 1: I want to sell those seats. However, the airlines do

317
00:20:27,240 --> 00:20:32,600
Speaker 1: realize that their programs do are profitable because consumers see

318
00:20:32,600 --> 00:20:35,960
Speaker 1: them as a value. So if they completely eliminate all availability,

319
00:20:36,359 --> 00:20:38,720
Speaker 1: they're going to be killing their cash cow. Who is

320
00:20:38,800 --> 00:20:41,520
Speaker 1: paying for all this? Like if JP Morgan or City

321
00:20:41,520 --> 00:20:44,240
Speaker 1: Group or whatever. The banks they do all these charge

322
00:20:44,280 --> 00:20:46,600
Speaker 1: cards and you and Brian figure this out. I get it,

323
00:20:47,119 --> 00:20:51,720
Speaker 1: But when did they break even on all this mileage? Bologny?

324
00:20:51,720 --> 00:20:55,520
Speaker 1: We're all doing well. The banks when they give out

325
00:20:55,520 --> 00:20:58,000
Speaker 1: these points and miles, they are paying the airlines and

326
00:20:58,119 --> 00:21:02,240
Speaker 1: hotels for each in or mile that they are giving

327
00:21:02,240 --> 00:21:05,639
Speaker 1: out to a consumer. And obviously there's also quite a

328
00:21:05,640 --> 00:21:08,400
Speaker 1: bit of breakage there because not every point in mile

329
00:21:08,520 --> 00:21:12,080
Speaker 1: ends up getting consumed, it ends up getting redeemed. But

330
00:21:12,200 --> 00:21:15,240
Speaker 1: the credit card market domestically in the US is so

331
00:21:15,520 --> 00:21:19,560
Speaker 1: strong and so robust that banks like Chase and the

332
00:21:19,600 --> 00:21:23,480
Speaker 1: issuers like American Express can easily make back those costs

333
00:21:23,480 --> 00:21:26,160
Speaker 1: with swipe fees and annual fees and all the other

334
00:21:26,840 --> 00:21:28,679
Speaker 1: charge Did you pay with a credit card? Do you know?

335
00:21:28,800 --> 00:21:33,359
Speaker 1: I saw photo Brian Kelly in first class British air

336
00:21:33,480 --> 00:21:38,320
Speaker 1: eating caviar. I don't know. I don't even like if

337
00:21:38,359 --> 00:21:43,000
Speaker 1: they gave me caviare and coach I don't. It's all right,

338
00:21:43,200 --> 00:21:45,600
Speaker 1: it's all right, you don't have to worry. Do they

339
00:21:45,600 --> 00:21:48,280
Speaker 1: have caviar and premium economy? I have no. I have

340
00:21:48,359 --> 00:21:50,400
Speaker 1: no idea. I have no idea. I'm glad, but I'm

341
00:21:50,440 --> 00:21:52,800
Speaker 1: glad that you brought up British Airways because the parent

342
00:21:52,880 --> 00:21:57,080
Speaker 1: company of British Airways I A G. Has announced the

343
00:21:57,119 --> 00:22:02,160
Speaker 1: new low cost travel option, which is called Level. It's

344
00:22:02,200 --> 00:22:04,800
Speaker 1: flying out of Vienna and I believe you can do

345
00:22:05,400 --> 00:22:10,560
Speaker 1: Vienna Gatwick for something like thirty dollars. And my question

346
00:22:10,600 --> 00:22:12,880
Speaker 1: to you, Julian is when are we going to see

347
00:22:12,920 --> 00:22:16,960
Speaker 1: more of these low priced carriers, the low fare carriers,

348
00:22:17,240 --> 00:22:21,120
Speaker 1: UH really kind of start to take business away from

349
00:22:21,160 --> 00:22:23,960
Speaker 1: some of the legacy carriers. I'm thinking here of Wow,

350
00:22:24,240 --> 00:22:28,919
Speaker 1: I'm thinking of Norwegian. Uh, they're not going away. They

351
00:22:28,960 --> 00:22:32,320
Speaker 1: seem to be getting even stronger. In general, they are,

352
00:22:32,480 --> 00:22:36,120
Speaker 1: though Norwegian has had some financial difficulties, so it's it's

353
00:22:36,160 --> 00:22:38,200
Speaker 1: not all good. I don't mean for the companies, I

354
00:22:38,240 --> 00:22:41,160
Speaker 1: mean for the traveler. Oh. For the travelers, it's it's

355
00:22:41,160 --> 00:22:44,200
Speaker 1: a boom. This is there's never been a better time

356
00:22:44,240 --> 00:22:49,520
Speaker 1: to fly transatlantic, UH, for low fares, especially in economy,

357
00:22:50,480 --> 00:22:52,800
Speaker 1: the low fare carriers that the low cost carriers have

358
00:22:52,880 --> 00:22:57,480
Speaker 1: absolutely made a dent in the legacy carriers UH traffic

359
00:22:57,600 --> 00:23:01,120
Speaker 1: over the ocean. And we are seeing more and more

360
00:23:01,240 --> 00:23:05,679
Speaker 1: sales where you'll get fares to London, tarries to Paris

361
00:23:05,720 --> 00:23:09,240
Speaker 1: for three hundred four hundred dollars around trip, which would

362
00:23:09,240 --> 00:23:11,880
Speaker 1: be unheard of just five years ago. And what kind

363
00:23:11,880 --> 00:23:15,000
Speaker 1: of equipment should we expect to be on those routes.

364
00:23:15,080 --> 00:23:17,720
Speaker 1: Is it the seven three seven Maxes? Is it the

365
00:23:17,840 --> 00:23:20,800
Speaker 1: all single aisle what kind of stuff are we gonna Well,

366
00:23:20,920 --> 00:23:22,280
Speaker 1: you know, you've got to figure out a way to

367
00:23:22,320 --> 00:23:25,800
Speaker 1: buy Tom those three No, we'll get Tom three seats that.

368
00:23:25,920 --> 00:23:28,920
Speaker 1: We'll get to that in a second. Yeah, we are

369
00:23:29,000 --> 00:23:32,560
Speaker 1: seeing certainly moved to aircraft like the seven three seven

370
00:23:32,600 --> 00:23:36,280
Speaker 1: Max to make that transatlantic flight just a few years

371
00:23:36,320 --> 00:23:39,360
Speaker 1: ago that couldn't have been accomplished. Now that plane can

372
00:23:39,400 --> 00:23:41,880
Speaker 1: make the distance. The seven three seven For people who

373
00:23:41,960 --> 00:23:44,800
Speaker 1: may not know what that is or be familiar with it,

374
00:23:44,920 --> 00:23:49,680
Speaker 1: that's the plane that basically Southwest flies almost exclusively all

375
00:23:49,720 --> 00:23:54,320
Speaker 1: around the US. It's a single aisle jet, three seats

376
00:23:54,320 --> 00:23:57,359
Speaker 1: on each side. It's a workhorse of the industry. Hasn't

377
00:23:57,440 --> 00:24:00,720
Speaker 1: usually been used on overseas flights like that. But it's

378
00:24:00,760 --> 00:24:03,439
Speaker 1: definitely good. It's going to become very common. Julian marquire

379
00:24:03,480 --> 00:24:06,240
Speaker 1: with us through the Points Guy. We continue Julian, uh,

380
00:24:06,800 --> 00:24:10,320
Speaker 1: Marriott is merging hybrid with with SPG and all that.

381
00:24:10,440 --> 00:24:14,760
Speaker 1: So that's a hotel card, our airline miles cards better

382
00:24:14,840 --> 00:24:17,919
Speaker 1: cards to have than hotel cards or is it like

383
00:24:17,960 --> 00:24:21,800
Speaker 1: a New World with a combined Marry awards rewards. I

384
00:24:21,840 --> 00:24:25,520
Speaker 1: don't know universe that it is or monopoly that it is.

385
00:24:26,240 --> 00:24:29,880
Speaker 1: You know, it depends on what your travel focus is,

386
00:24:29,960 --> 00:24:32,640
Speaker 1: what your travel goals are, where you tend to how

387
00:24:32,680 --> 00:24:34,600
Speaker 1: you tend to travel, and where you tend to travel.

388
00:24:34,920 --> 00:24:38,360
Speaker 1: But what we recommend that the Points Guy is actually

389
00:24:38,440 --> 00:24:42,560
Speaker 1: neither airline co branded cards nor hotel quota branded cards,

390
00:24:42,640 --> 00:24:45,200
Speaker 1: although there is a place for them, but we look

391
00:24:45,320 --> 00:24:49,280
Speaker 1: towards flexible point currencies, and by that we mean Chase

392
00:24:49,359 --> 00:24:54,280
Speaker 1: Ultimate Rewards credit cards, American Express Membership rewards, City thank

393
00:24:54,320 --> 00:24:56,760
Speaker 1: You rewards, and the reasons to that is the point

394
00:24:56,840 --> 00:25:00,000
Speaker 1: you earn with those credit cards can then be transferred

395
00:25:00,280 --> 00:25:03,280
Speaker 1: at your at your discretion, to a lot of these

396
00:25:03,320 --> 00:25:06,600
Speaker 1: same airline and hotel programs um Each one of those

397
00:25:06,600 --> 00:25:09,560
Speaker 1: programs has at least a dozen transfer partners, so you're

398
00:25:09,600 --> 00:25:11,679
Speaker 1: kind of getting the best of both worlds when you

399
00:25:11,760 --> 00:25:14,840
Speaker 1: do it that way. Julian, I want to turn to

400
00:25:15,000 --> 00:25:18,600
Speaker 1: a topic that has been really popular online, and this

401
00:25:18,680 --> 00:25:23,760
Speaker 1: has to do with service animals flying the skies. The

402
00:25:23,880 --> 00:25:27,840
Speaker 1: airlines are cracking down on this, aren't they. Yes, there's

403
00:25:27,880 --> 00:25:33,440
Speaker 1: there's definitely been some very obvious abuse of the policy.

404
00:25:34,280 --> 00:25:37,320
Speaker 1: First of all, there's a difference between service animals, certified

405
00:25:37,359 --> 00:25:41,159
Speaker 1: service animals who might be helping a disabled person, and

406
00:25:41,240 --> 00:25:45,240
Speaker 1: then emotional support animals. That's where the abuses have happened,

407
00:25:45,240 --> 00:25:49,760
Speaker 1: where people who simply don't want to have their animal

408
00:25:49,920 --> 00:25:53,080
Speaker 1: travel in cargo or stay at home are bringing them

409
00:25:53,119 --> 00:25:56,160
Speaker 1: into the cabin and for no fee and not having

410
00:25:56,200 --> 00:25:59,800
Speaker 1: to pay any fee, and oftentimes much bigger animals than

411
00:26:00,119 --> 00:26:03,480
Speaker 1: are appropriate for a large cabin. So that's where the

412
00:26:03,520 --> 00:26:06,080
Speaker 1: airlines have really started to I think Delta, for example,

413
00:26:06,160 --> 00:26:10,240
Speaker 1: they just prohibited what pit bulldogs from traveling, and there

414
00:26:10,320 --> 00:26:13,359
Speaker 1: was a petition to the Department of Transportation saying they

415
00:26:13,359 --> 00:26:17,600
Speaker 1: want to limit emotional support and service animals to just dogs.

416
00:26:17,640 --> 00:26:19,560
Speaker 1: You're not going to be able to bring your peacock

417
00:26:20,520 --> 00:26:23,480
Speaker 1: on the plane anymore or your duck. That's right. That

418
00:26:24,280 --> 00:26:26,280
Speaker 1: is where this all stems from, is the d OT

419
00:26:26,560 --> 00:26:30,120
Speaker 1: rules on what airlines should allow. But I think that

420
00:26:30,440 --> 00:26:32,960
Speaker 1: that's coming full circle at this point. In the next year,

421
00:26:33,200 --> 00:26:36,000
Speaker 1: we're going to see more and more airlines stopping these

422
00:26:36,080 --> 00:26:40,479
Speaker 1: questionable Where would you where would you send Tom on

423
00:26:40,520 --> 00:26:44,159
Speaker 1: a nice you know, like three day break? Right now? Tom,

424
00:26:44,160 --> 00:26:47,080
Speaker 1: how how does Zurich sound? How about Zurich? Would that be?

425
00:26:47,200 --> 00:26:49,960
Speaker 1: I we can get you on a business class flight

426
00:26:50,000 --> 00:26:52,680
Speaker 1: to Zurich for I think Brian can get you there

427
00:26:52,720 --> 00:26:58,760
Speaker 1: for about eighteen dollars If that works. Only Brian Kelly

428
00:26:58,760 --> 00:27:01,399
Speaker 1: can do that. Do you know that my bow tie

429
00:27:01,440 --> 00:27:03,800
Speaker 1: cost thirty dollars more in Zurich than it does in

430
00:27:03,800 --> 00:27:09,560
Speaker 1: New York for twice? I mean Tyler Burlet was on

431
00:27:09,600 --> 00:27:12,159
Speaker 1: the other day for Monica and he's loving zurch But uh,

432
00:27:12,960 --> 00:27:14,960
Speaker 1: I don't know. Julian, thank you so much, Julian, Mark

433
00:27:15,040 --> 00:27:17,320
Speaker 1: kill with the points guy to get us going on

434
00:27:17,400 --> 00:27:20,080
Speaker 1: the travel season. I mean, pim to the point. I

435
00:27:20,119 --> 00:27:23,760
Speaker 1: went to China, you went to Europe. Every seat's taken.

436
00:27:23,880 --> 00:27:26,480
Speaker 1: Remember when you go like, oh it was seventy five

437
00:27:26,560 --> 00:27:33,200
Speaker 1: percent capacity, it's gone it's it's like every these huge airplanes. Yeah,

438
00:27:33,520 --> 00:27:35,919
Speaker 1: I was on an A three eight. Every seat was

439
00:27:36,000 --> 00:27:39,320
Speaker 1: taken it. But I gotta say what I really liked

440
00:27:39,720 --> 00:27:41,960
Speaker 1: was the A three eight. Maybe this is just because

441
00:27:41,960 --> 00:27:44,040
Speaker 1: I don't know about it, but they've got the three

442
00:27:44,080 --> 00:27:47,920
Speaker 1: cameras on the exterior of the aircraft. They've got one

443
00:27:47,920 --> 00:27:50,040
Speaker 1: at the nose, they've got one on the tail underneath

444
00:27:50,040 --> 00:27:52,360
Speaker 1: the fuselage. And as a result that you can see

445
00:27:52,800 --> 00:27:56,560
Speaker 1: you know what's going on. I'm booking the Christmas vacation

446
00:27:56,640 --> 00:27:59,080
Speaker 1: this weekend. Are Yeah. Yeah, Mrs King goes, we should

447
00:27:59,080 --> 00:28:01,840
Speaker 1: go to Venice in the nails. So we're going to

448
00:28:01,920 --> 00:28:04,320
Speaker 1: San Antonio and they got that river, you know, the

449
00:28:06,080 --> 00:28:10,080
Speaker 1: southwest Vegas and we can do the Blajo thing. Yeah,

450
00:28:10,160 --> 00:28:13,560
Speaker 1: that's a good idea. Looks like Venice, San Antonio, Las Vegas.

451
00:28:13,600 --> 00:28:17,879
Speaker 1: It's a tough call, you know. Canals. That's great too.

452
00:28:19,160 --> 00:28:22,199
Speaker 1: Up tune and twenty points. We're finishing strong in the

453
00:28:22,280 --> 00:28:29,080
Speaker 1: first half of this year. Tune a new uh seven

454
00:28:29,160 --> 00:28:31,439
Speaker 1: eight seven Dreamliner. I would say, you know, you're good

455
00:28:31,520 --> 00:28:33,600
Speaker 1: luck with that. I really seriously, I still look to

456
00:28:33,640 --> 00:28:44,120
Speaker 1: fly seven forty seven's. Thanks for listening to the Bloomberg

457
00:28:44,120 --> 00:28:50,120
Speaker 1: Surveillance Podcast. Subscribe and listen to interviews on Apple Podcasts, SoundCloud,

458
00:28:50,480 --> 00:28:54,680
Speaker 1: or whichever podcast platform you prefer. I'm on Twitter at

459
00:28:54,720 --> 00:28:59,000
Speaker 1: Tom Keane before the podcast. You can always catch us worldwide.

460
00:28:59,440 --> 00:29:00,520
Speaker 1: I'm bloom and Radio