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Speaker 3: Breaking news that RUNI and state media reporting mediators have
Speaker 3: submitted their response to the US proposal and the war
Speaker 3: via Pakistan.
Speaker 2: This comes ten weeks into the conflict and frankly into
Speaker 2: our show, which launched the same weekend as those attacks.
Speaker 2: The conflict has disrupted global energy supplies. We're still waiting,
Speaker 2: as Lisa mentioned, on more details on what exactly is
Speaker 2: in that Ron response. But joining us now is Bloomberg
Speaker 2: News White House correspondent Jeff Mason, who is on White
Speaker 2: House duty this weekend. Jeff, are we hearing anything from
Speaker 2: the White House yet? Were we expecting this today or
Speaker 2: we all just kind of waiting to see when this
Speaker 2: popped into our inboxes and flashed across a terminal.
Speaker 5: It's a wait and see situation, Christina, I have asked
Speaker 5: the White House act for a reaction or a response,
Speaker 5: and haven't heard back from them yet. I imagine that
Speaker 5: the White House and the US administration broadly is still
Speaker 5: digesting this response in terms of when we expected it.
Speaker 6: The President had told reporters.
Speaker 5: On Friday that he was expecting to have that response
Speaker 5: that night, So they've been waiting all weekend for it
Speaker 5: to come in, and now it's in. And now what
Speaker 5: we'll want to be asking and seeing is whether or
Speaker 5: not it's acceptable to President Trump what they've responded to,
Speaker 5: and whether the conditions are enough that this ceasefire will
Speaker 5: continue so that they can move on to talk about
Speaker 5: the nuclear program at Iran that President Trump said was
Speaker 5: the actual reason for getting into this war in the
Speaker 5: first place.
Speaker 3: Jeff, we talked about a ceasefire. It's a funny kind
Speaker 3: of ceasefire because the attacks keep coming. We saw drone
Speaker 3: attacks this morning on some tankers in the straight of
Speaker 3: hor moves. Of course, we saw the US retaliate on
Speaker 3: Iran after some attacks earlier in the week on other vessels. Here,
Speaker 3: the President continues to be so adamant that we do
Speaker 3: have a ceasefire in place. He talks about the prospects
Speaker 3: of extending one. To go back to what I said,
Speaker 3: it is a funny one in that there still seems
Speaker 3: to be a lot of attacks taking place in the
Speaker 3: region while this is in place.
Speaker 5: Yeah, I couldn't say it beout her David. It's a
Speaker 5: war and a messaging of contradiction. And that's really been
Speaker 5: characteristic of how the President and the US has talked
Speaker 5: about or engaged in this war from the very beginning,
Speaker 5: from some confusion over what the actual aims were, to
Speaker 5: the status of the ceasefire, to what is acceptable now
Speaker 5: during a ceasefire. I think the President has wanted to
Speaker 5: portray this ceasefire as not being threatened because he wants
Speaker 5: it to continue, and he wants there to be a deal.
Speaker 5: And I might add he wants there not to be
Speaker 5: any major hostilities going into his trip next week or
Speaker 5: this week now, I should say on Tuesday to China. China,
Speaker 5: of course, will excuse me, I ran, of course, will
Speaker 5: be one of the big topics on that summit between
Speaker 5: President Trump and President she and it's not the backdrop
Speaker 5: he wants to have continued fighting in there, even if
Speaker 5: they haven't agreed on a full on piece deal yet.
Speaker 2: And speaking of that, Jeff, there is also this sequencing
Speaker 2: issue wherein if the US agrees to the ceasefire and
Speaker 2: reopening up the Strait, the US will then lose a
Speaker 2: lot of their leverage going into nuclear negotiations which are
Speaker 2: supposed to take place maybe possibly after this is settled.
Speaker 2: Has any of that been resolved and what are the
Speaker 2: two big sticking points that still exist between these two
Speaker 2: proposals in these two nations.
Speaker 5: Well, nothing has been resolved that I can tell anyway.
Speaker 5: I mean, they haven't announced any progress yet other than
Speaker 5: the fact that they are talking, and that is something,
Speaker 5: and talking through the Pakistani mediators of course.
Speaker 6: But you're spot on.
Speaker 5: Christina to mention that in terms of the straight of
Speaker 5: hour moves, and that is another broader consequence of this war.
Speaker 5: In general, Iran has ended up flexing its muscles and
Speaker 5: its leverage with the Strait in a way that it
Speaker 5: never had before this war.
Speaker 6: And so that will.
Speaker 5: Be a really interesting thing to see, is how the
Speaker 5: two sides work that out going forward. I think the
Speaker 5: US would like to see Iran not involved at all
Speaker 5: in governing House ships get through the straight of hour moves. Iran, however,
Speaker 5: has realized that that is a huge piece of leverage
Speaker 5: that it has and seems unlikely to just throw that
Speaker 5: away or give that up. But that is in terms
Speaker 5: of sequencing. As you said, that's the first question. Getting
Speaker 5: that fixed so that Iran can start getting more money
Speaker 5: back into its economy and so that the global economy
Speaker 5: is not hamstrung.
Speaker 6: By the Strait being blocked.
Speaker 2: I think a lot of regional allies and Gulf nations
Speaker 2: have that same concern. All right, Jeff, thank you for
Speaker 2: the scrabble. Always nice to see you this morning. Thanks
Speaker 2: for breaking down that breaking news.
Speaker 7: Thanks so much, Jeff. We're gonna bring another voice now.
Speaker 3: Democratic Congressman from Maryland, Johny of Cheskey, known as Johnny
Speaker 3: Owe to his friends and constituents in the second Congression
Speaker 3: district there in Maryland, Baltimore City, Baltimore County, Carroll County
Speaker 3: as well, I believe.
Speaker 7: Congressman, thanks for being here.
Speaker 3: You sit on the Foreign Affairs Committee, and I just want
Speaker 3: to start with the news that we're kind of going
Speaker 3: through this morning. The fact that we have reporting that
Speaker 3: that response to the US proposal has been conveyed via
Speaker 3: the pakistanis to the US. Your reaction to that, and
Speaker 3: what do you need to see in that response to
Speaker 3: feel better about the prospects of this conflict coming to
Speaker 3: an end.
Speaker 8: Some great reporting there, and like everyone else, I'm waiting
Speaker 8: to see what the details are. But we have to
Speaker 8: take a step back and remember that we're waiting for
Speaker 8: agreement on a ceasefire that is only necessary because of
Speaker 8: a problem that President Trump created in the first place.
Speaker 8: You know, Iranians would not know that they had this
Speaker 8: potentially powerful tool in closing the strait of our moves
Speaker 8: but for our attack. And so this is, as you
Speaker 8: were pointing out, just one step and a much larger
Speaker 8: conversation about the very real concern about having a nuclear
Speaker 8: armed Iran. But we're really in a place now where
Speaker 8: the President, I think, is looking to save face as
Speaker 8: a war that we know now there was not a
Speaker 8: clear imminent threat.
Speaker 6: But as has been true throughout this war.
Speaker 8: As a member of the Foreign Affairs Committee, I've gotten
Speaker 8: zero up to date real time information from this administration.
Speaker 8: There have been no public hearings and so it's really
Speaker 8: a little bit like poking in the dark to try
Speaker 8: to figure out where we are and where this administration
Speaker 8: hopes to land ultimately.
Speaker 2: Are you concerned about the lack of what you just
Speaker 2: talked about consultation with Congress as well as something people
Speaker 2: keep talking about with US is the lack of technical
Speaker 2: experts going into these negotiations. When they negotiated the original
Speaker 2: Iran nuclear deal, which the Trump administration pulled out of
Speaker 2: during the first term, that was months and months of
Speaker 2: negotiations in Geneva with multilateral partners, with States Apartment officials,
Speaker 2: junior officials, people from IAEA. The State's Apartment, as far
Speaker 2: as we can tell, has been largely cut out of
Speaker 2: these negotiations. It has really only three people, and the
Speaker 2: President seems making these decisions. Are you confident that they
Speaker 2: have the knowledge they need to go into these rooms
Speaker 2: and come out with a deal that is advantageous to
Speaker 2: the United States?
Speaker 6: Fortunately, I'm not confident.
Speaker 8: What I can tell you is what I do know
Speaker 8: from sitting on the Foreign Affairs Committee is that even
Speaker 8: if the State Department were at the table, that department
Speaker 8: has been absolutely gutted. So a lot of the support
Speaker 8: infrastructure that should be in place doesn't exist. And the
Speaker 8: fact that this president also on top of that, likes
Speaker 8: to go it alone so much is really problematic for
Speaker 8: I think finding those kind of sustainable deals. What worries
Speaker 8: me in all of this is that we're going to
Speaker 8: end up with a deal that is equal to or
Speaker 8: maybe even worse than that JOA, which was imperfect by
Speaker 8: the way, there were opportunities for improvement. But President Trump
Speaker 8: created this environment in the first place by ripping up
Speaker 8: that original agreement, allowing Iran to really go at their
Speaker 8: enrichment program with great following, ripping up that deal that,
Speaker 8: as you mentioned, was very involved in, very detailed, and
Speaker 8: so now we're back at a place where if we
Speaker 8: can get through a ceasefire agreement and if we can
Speaker 8: get back to the table, I'm hopeful that we can
Speaker 8: get back to a place where there's not enrichment happening.
Speaker 6: But we have a long way to go.
Speaker 8: And in the meantime, there's been an incredible amount of
Speaker 8: pain inflicted upon not just Americans in terms of service members' lives, lost,
Speaker 8: hundreds of not at least tens of billions of dollars
Speaker 8: spent painted the pump for Americans and frankly across the globe.
Speaker 8: And so we're asking here, you know, to what end?
Speaker 8: And I think at this point the president can't really
Speaker 8: answer that question.
Speaker 3: Let's talk a bit about what this has to bear
Speaker 3: on US politics. I'm just going to note here Chris Wright,
Speaker 3: the Energy Secretaries on Meet the Press with Christen Weilcrin
Speaker 3: in NBC News. He said, the US isn't going to
Speaker 3: take off any options off the table when it comes
Speaker 3: to Iran. An interram run deal has got to be possible,
Speaker 3: he said. And then you noted gasoline and diesel prices
Speaker 3: are going to remain up while this war continues. I'm
Speaker 3: curious how you see that pressure mounting as you talked
Speaker 3: to constituents and make your way around the district. You
Speaker 3: mentioned you haven't been briefed formally by this administration on
Speaker 3: the Foreign Affairs Committee. We did see the Secretary of
Speaker 3: Defense gope and speak to the Armed Services Committee. There
Speaker 3: is some speculation that maybe we're reaching a greater appetite
Speaker 3: for war powers resolution on Capitol Hill. What's going to
Speaker 3: change the conversation or the political terrain?
Speaker 7: Is it going to be.
Speaker 3: Gas prices diesel prices continuing to rise a pace or
Speaker 3: is it going to be that the longer this lasts
Speaker 3: without any indication of sort of where the direction of
Speaker 3: this war is headed from the administration is going to
Speaker 3: finally lead you and your colleagues to do more, try
Speaker 3: to do more, to get administration officials up to Capitol
Speaker 3: Hill to give you some answers.
Speaker 8: Appreciate those questions. I'll start with the war power for resolution.
Speaker 8: I mean, this is now beyond the sixty days and
Speaker 8: the flexibility that my colleagues on the Republican side have
Speaker 8: said the president deserves. So it's not a suggestion, it's
Speaker 8: the law. If the president wants to continue military operations,
Speaker 8: he has to have authorization from Congress. At this point,
Speaker 8: I think the law is clear, and so on that point,
Speaker 8: I would.
Speaker 2: Say energy really quickly. Do you think that would concern
Speaker 2: this particular president. Do you think anything Congress passes, even
Speaker 2: if it would pass the war powers of resolution, do
Speaker 2: you think that would stop him?
Speaker 8: Well, that's not a reason for Congress not to try
Speaker 8: to stop him. But if the president blows past war
Speaker 8: powers restrictions, then I think we have to sort of
Speaker 8: up our game as members of Congress to hold this
Speaker 8: president accountable. This is a president who has consistently shown
Speaker 8: a disdain for any sort of check and unfortunately, my
Speaker 8: Republican colleagues have largely deferred to the President on those issues.
Speaker 8: And I hope that given the consequence and given the
Speaker 8: impact to the other point, I think that the costs
Speaker 8: at the pump, and it's not just that the pump.
Speaker 8: We're seeing it on airline tickets. We're seeing it through
Speaker 8: surcharges and places like Amazon, We're seeing it through what's
Speaker 8: happening with food prices. This is having impact across the
Speaker 8: lives of all Americans. And so I think what's happening
Speaker 8: is in particular, Republican colleagues in Congress are seeing that
Speaker 8: this is going to be a real drag on their
Speaker 8: election prospects in November. And I think this is really
Speaker 8: going to fuel a Democratic majority in the House of Representatives.
Speaker 8: I think we're going to see a closing, if not
Speaker 8: a democratic takeover of the Senate.
Speaker 6: So I think these issues are real. People are really hurting.
Speaker 8: As I talked to my constituents, and I think it's
Speaker 8: really interesting to note that usually when it's whether one
Speaker 8: of the secretaries or the President himself. These are millionaires
Speaker 8: and billionaires who are members of this administration, taling Americans
Speaker 8: it's going to be okay, it's only temporary. That's not
Speaker 8: acceptable to people who are trying to put a roof
Speaker 8: over their head and food on the table.
Speaker 3: Let's move if we can to the summit that's going
Speaker 3: to take place this week, invasion between the President and
Speaker 3: President ution Ping. And we had your colleague, your Democratic colleague,
Speaker 3: Rocana of California on the show yesterday and we asked
Speaker 3: him what he's looking for as an outcome from that
Speaker 3: meeting between those two world leaders. Let's take a listen
Speaker 3: to what he had The same reply, Well.
Speaker 9: He has a lot that he has to reverse, had
Speaker 9: China hold us hostage on rares and critical minerals. I
Speaker 9: want a deal that actually helps American farmers, American shipbuilders,
Speaker 9: American manufacturers, and I.
Speaker 6: Hope he will work to get that. He hasn't so far.
Speaker 3: Connors's been kind of looking for an economic resolution to
Speaker 3: come out of this meeting and engaging similar goals on
Speaker 3: your part, what would you like to see these two
Speaker 3: leaders announce at the end of those meetings.
Speaker 6: I think that's part of it.
Speaker 8: What I can tell you is this is a president
Speaker 8: who's been very soft on China. The one place where
Speaker 8: he's been hard is on tariffs, and that has negative
Speaker 8: impacts for everyone.
Speaker 6: No one wins in a trade war.
Speaker 8: But what we do know is that this president's been
Speaker 8: very soft in terms of advanced chips and the selling
Speaker 8: of those, and that really is, I think putting our
Speaker 8: national security at risk. You see a ton of pieces
Speaker 8: of legislation around export controls and the Foreign Affairs Committee.
Speaker 8: I think it speaks to this concern of the way
Speaker 8: this administration is acting and in general on the issue.
Speaker 8: So Yes, in addition to what Representative Kanna had said,
Speaker 8: I actually want to see our president take a heart
Speaker 8: stand on some of these expert control some of this
Speaker 8: advanced chips and looking more in the American interest. I'm
Speaker 8: also looking to making sure that this president, that President Trump,
Speaker 8: takes a much more affirmative stance and support of our
Speaker 8: friend and partner Taiwan. I know that I just introduced legislation,
Speaker 8: bipartisan legislation I'm a co league with Representative Kim that
Speaker 8: would have the United States do a survey of all
Speaker 8: the potential responses if there were to ever be an
Speaker 8: invasion of Taiwan by China, and so I'm hoping that
Speaker 8: the President not only step up for American farmers and
Speaker 8: American interests from a national security perspective, but also to
Speaker 8: be a much more ardent supporter of Taiwan's interest in
Speaker 8: these meetings.
Speaker 7: Johnny oh Carson, John L.
Speaker 3: Jesske joining us that I feel like we can. I
Speaker 3: feel the level of familiarity here. Over the course of
Speaker 3: this interview, people call you that I'm not making that up.
Speaker 7: Is that right?
Speaker 6: That's right, that's right.
Speaker 3: I'm former school teacher. I've read the bios.
Speaker 2: Thank you for being here and for putting up with
Speaker 2: us this morning. I will have to have you back sometime.
Speaker 3: Stay with us for more on Bloomberg this weekend. Right
Speaker 3: after this, all right, we have.
Speaker 2: More breaking news. This morning, the country's health minister, in
Speaker 2: coordination with WHO and twenty two other countries, began evacuating Haunt,
Speaker 2: a virus striking cruise ship in Spain's Canary Islands.
Speaker 10: All the passengers remain asymptomatic. The boat has arrived at
Speaker 10: six thirty am. The entire operation is proceeding normally, and
Speaker 10: I said the first to Disembard will be the Spanish
Speaker 10: citizens and then the flight to the Netherlands will depart.
Speaker 7: Choris now is doctor Carlos til Rio.
Speaker 3: He is a distinguished professor at Emory School of Medicine's
Speaker 3: Division of Infectious Diseases.
Speaker 7: Doctor del Rio, thank you very much for being here.
Speaker 3: And let's pick up from what we just heard there
Speaker 3: what we expect to happen here over these next few hours.
Speaker 3: It sounds like many countries are marshaling aircraft to the
Speaker 3: Canary Islands to bring their citizens back to their respective countries.
Speaker 3: Perhaps can just take the US as an example here.
Speaker 3: What's going to happen here over the next twenty four
Speaker 3: to thirty six hours.
Speaker 11: Well, thank you for having me. The first thing is that, unfortunately,
Speaker 11: what we hear is that the passengers that are being
Speaker 11: disembarked are old asymtomatic. In other words, they don't have
Speaker 11: any symptoms of ntavirus, which means maybe they're not infected yet.
Speaker 11: We don't know. They could still have been infected and
Speaker 11: they're going to have developed symptoms later. So the first
Speaker 11: thing that's going to happen is all passengers will undergo
Speaker 11: a health screening. They're going to be you know, question,
Speaker 11: they're going to have physical exams, they may draw some blood,
Speaker 11: and then after they decide whether they're truly a symtomatic
Speaker 11: or not, they'll put them on a plane and the
Speaker 11: American citizens are going to come over to a serious
Speaker 11: communical disease unit at the University of Nebraska, which is
Speaker 11: fairly large, and they're going to be then a process
Speaker 11: again over there, and if they happen to be sintomatic,
Speaker 11: if there's anything that suggestions of infection, they'll be kept
Speaker 11: in isolation. Otherwise that they still cline to be asyantobatic,
Speaker 11: they'll be sent home and encouraged to quarantine and to
Speaker 11: watch themselves for the next six to eight weeks.
Speaker 2: Deta, I want to ask you how this spreads, because
Speaker 2: I know that it is usually something that you get
Speaker 2: by coming into contact with animal droppings that have this virus.
Speaker 2: It is not usually spread from person to person, or
Speaker 2: there can be prevailing wisdom is that if you get
Speaker 2: it from person person, you have to be in very
Speaker 2: close contact. That some of the reports we're seeing from
Speaker 2: the ship is that not all of these individuals who
Speaker 2: have tested positive for this virus were in close enough
Speaker 2: contact that virologists would usually assume they were susceptible to
Speaker 2: contracting the virus. I know this is a different strain
Speaker 2: than we have here in the US, and that is
Speaker 2: more possible. But is that concerning that this seems to
Speaker 2: be a method of transmission that this virus doesn't usually take.
Speaker 11: No, it actually does this, and hintavirus is the only
Speaker 11: one that's spressed person to person. And there was an
Speaker 11: outbreak in Argentina in twenty eighteen twenty nineteen where some
Speaker 11: of the things that you're mentioning actually had some person
Speaker 11: just got infected because they were in the same room
Speaker 11: with another person that was infected, or they were in
Speaker 11: the same bathroom. It is very clear that if you
Speaker 11: have very close intimate contact, for example, in this case
Speaker 11: the index case, then his wife got infected. They were
Speaker 11: in the same cabin, they could have been you know,
Speaker 11: intimate sexually. There's a lot of reasons why the wife
Speaker 11: got infected so quickly and then developed symptoms, But that
Speaker 11: doesn't mean, you know, it's an all or non phenomena.
Speaker 6: And clearly there's a lot.
Speaker 11: Of things about the transmission we don't fully understand. And
Speaker 11: I think this this outbreak is going to help us
Speaker 11: try to understand that it is very clear that the
Speaker 11: closer you are, the more intimate contact, the more likely
Speaker 11: you are to get infected. But that doesn't mean that
Speaker 11: we have not seen sort of what appears to be
Speaker 11: fairly casual mechanisms of infection.
Speaker 3: I'm curious about the global public health apparatus that's being
Speaker 3: marshaled to bear here in tenter Reef. So the United
Speaker 3: States has pulled out of the World Health Organization. That's
Speaker 3: something that's changed since the COVID nineteen pandemic, and I
Speaker 3: wonder what the consequences are to that as you see them,
Speaker 3: as we watch this this effort unfold, and what we
Speaker 3: can learn from this experience. Yes, this may not lead
Speaker 3: to the kind of global pandemic that we saw with
Speaker 3: with COVID nineteen, but what can we learn from the
Speaker 3: way that governments respond to this crisis that's breaking out
Speaker 3: on this ship.
Speaker 11: Well, you know, first of all, I want to say
Speaker 11: that the World Herald Organization has really done a remarkable job,
Speaker 11: starting with their Director General, doctor Tedrose, and then the
Speaker 11: rest of the WHO team, Maria van Kerhoven and her team,
Speaker 11: They've done a tremendous job. You know, doctor Tedros is
Speaker 11: there inside in Tenerief, helping and providing leadership and talking
Speaker 11: to the Spanish government and ensuring that the boat was
Speaker 11: able to dock over there and the passengers can be
Speaker 11: safely and securely disembarked. I think we have seen a
Speaker 11: much diminished CDC. If you think about a prior outbreak,
Speaker 11: let's think the outbreak of Ebola. CDC very quickly was involved,
Speaker 11: very CDC very quickly sent a team over there. CDC
Speaker 11: was providing something very important, which is technical assistance. We're
Speaker 11: not seeing a lot of technical assistance happening for CDC
Speaker 11: right now. In fact, it almost seems like the CDC
Speaker 11: response occurred after many, many days. It was almost too late,
Speaker 11: too little, too late. And that's unfortunate because you know,
Speaker 11: we need a strong CDC. As American citizens, we want
Speaker 11: a strong CDC. We want a CDC that as a
Speaker 11: leader in global health, not only naturally but globally. And
Speaker 11: to see such a diminish CDC to me, as an
Speaker 11: infectiousy physician and as a public health expert, is actually
Speaker 11: quite painful.
Speaker 2: And that seems to compound the concern. People really are
Speaker 2: stressed about this. We were talking yesterday about how we've
Speaker 2: literally heard people on the street in Manhattan talking about it,
Speaker 2: and then the WHO director, doctor Tedros, was talking about
Speaker 2: the concern of a wider spread of this virus. I
Speaker 2: want you to listen to what he said.
Speaker 12: The concern is legitimate because we have all experience because
Speaker 12: of COVID, especially in twenty twenty, and that trauma is
Speaker 12: still in our minds. So people will have questions, people
Speaker 12: who have concerns, and that's what I try to address
Speaker 12: in my message to the people of Tenerife. We hear you,
Speaker 12: we understand, but the situation is much better now.
Speaker 2: How worried should people be that this is not an
Speaker 2: isolated outbreak?
Speaker 11: I think about this one.
Speaker 6: I would not be worried.
Speaker 11: I agree with doctor Tenders. I think there's still a
Speaker 11: lot of trauma left from COVID, But I would say,
Speaker 11: don't be worried.
Speaker 6: But this is not.
Speaker 11: The first outbreak.
Speaker 6: This is not the last outbreak.
Speaker 11: What I were worried about is that we will continue
Speaker 11: to see these kind of outbreaks. Were continue to have
Speaker 11: outbreaks like this one. Believe me, a hand of ours
Speaker 11: in a cruise ship was not in my bigger card
Speaker 11: of things that was going to happen in a cruise ship,
Speaker 11: and yet it happened. So we're going to see more
Speaker 11: things like this one. And what people in the US
Speaker 11: need to be worried about is our public health infrastructure.
Speaker 11: They need to be worried about. We can CDC. The
Speaker 11: CDC has been significantly diminished in relevance and a lot
Speaker 11: of people have left, all lot of expertise have left CDC.
Speaker 11: So I would say that what.
Speaker 6: We need to ask for and what we need to
Speaker 6: be worried.
Speaker 11: About is the state or public health and global health
Speaker 11: expertise in our country rather than this specific outburg.
Speaker 3: Carlos Silrio, Professor, Demberg University, thank you very much for
Speaker 3: the time on this Sunday mornings who watched those images
Speaker 3: from tenor Reef, those passengers getting off of that cruise
Speaker 3: vessel getting onto a series of plans. Christina and I
Speaker 3: think what we heard there about what happens next is
Speaker 3: just fascinating. That US pastors will be brought to Nebraska.
Speaker 3: We talked a bit about that yesterday. The sophisticated facility
Speaker 3: there at the University of Nebraska has and they'll be
Speaker 3: a quarantine that I think will last many days, if
Speaker 3: not several weeks. It has been used for abola and
Speaker 3: for COVID nineteen.
Speaker 2: After that, stay with us for more on Bloomberg this Weekend.
Speaker 4: Right after this, welcome back to Bloomberg this weekend. I'm
Speaker 4: Lisa Matteo. Now as we take a moment today to
Speaker 4: reflect on the moms in our lives, we're also aware
Speaker 4: of the emotional but also the financial that parents are
Speaker 4: putting into their children. It is a topic of the
Speaker 4: Bloomberg Weekend essay as well as the book over Invested,
Speaker 4: The Emotional Economy of Modern Parenting. Joining us now is
Speaker 4: Nina Bundel. She is professor of sociology at U SEE Irvine.
Speaker 4: She is the author and joins me now. Nina, thank
Speaker 4: you and pleasure speaking with you today. This article itself,
Speaker 4: let's start there first, it's about how parenting is changing
Speaker 4: in the twenty first century. There's a lot of things
Speaker 4: that parents are going through, right, the money, the time,
Speaker 4: the investment into our children. The big question is always
Speaker 4: on our minds. Are we doing enough? My question to
Speaker 4: you is is enough? Exactly?
Speaker 2: Like?
Speaker 4: What is that enough? What is are we looking for?
Speaker 4: What is enough? Exactly?
Speaker 13: Well, thank you so much Lisa for asking this question,
Speaker 13: because lots of parents are so concerned and so exhausted
Speaker 13: this these days, because we invest emotionally in financially and
Speaker 13: we want to do the best for our children, and
Speaker 13: I think partly continuously asking this question is very burdensome.
Speaker 13: It creates this slow grade dread in our gut that
Speaker 13: we think we need to listen to all the time,
Speaker 13: and it's hard to quiet it. So I would say
Speaker 13: it's important to know that social forces influence how we
Speaker 13: behave as parents, how we even feel as parents, and
Speaker 13: these days, this exhaustion listening to all of the advice
Speaker 13: is making us really tired and drained.
Speaker 4: I feel you in it. I have to admit personally
Speaker 4: I've invested a lot, but both of my kids are athletes,
Speaker 4: and so the private lessons, the hotel stays, the car
Speaker 4: rental is the best top equipment. I mean, you name it,
Speaker 4: we've invested in it. But I want to bring you
Speaker 4: something something that you say. You say kids are viewed
Speaker 4: through the lens of human capital, So what exactly do
Speaker 4: you mean by that?
Speaker 13: So this investment that you just pointed to Lisa, in
Speaker 13: extracurricular activities in sports and skills that kids can develop
Speaker 13: in addition to going to school. Those are the capabilities
Speaker 13: and skills overall that we call human capital, and economists
Speaker 13: have proposed that if we invest in human capital of children,
Speaker 13: then children could reap returns on this investment in their adulthood.
Speaker 13: So not only do we do this when kids get
Speaker 13: to school or even higher education to get their occupations,
Speaker 13: but parents should be concerned about this earlier and earlier,
Speaker 13: potentially even in the womb. Right, make the womb the
Speaker 13: first classroom by worrying a lot about what we do
Speaker 13: when we're even pregnant as moms.
Speaker 4: Well, let's talk about this parental shift in reasoning and thought.
Speaker 4: There's a quote you have in the article. I want
Speaker 4: to get to it. It says, a century ago, children labored
Speaker 4: for families. Today parents labor for their children, not just financially,
Speaker 4: We toil at parenting. So what driving this shift?
Speaker 13: That's an excellent question, a million dollar question, if I may,
Speaker 13: And it took me ten years to write this book
Speaker 13: and research this phenomenon over the course of decades, but
Speaker 13: to be very brief, we you know, at the turn
Speaker 13: of the twentieth century saw transformation when children were useful
Speaker 13: in the home, they were working, contributing to the family
Speaker 13: economically and even in the factories on the farm. Of course,
Speaker 13: a childhood chores in the home, and then they became
Speaker 13: emotionally priceless, mostly seen as vulnerable, and we would start
Speaker 13: investing into their education. And this new period is when
Speaker 13: we as parents think of children as investment projects. We
Speaker 13: in a way bring the logic from the workplace into
Speaker 13: the home. We think about all of the things that
Speaker 13: we need to do toil at parenting, as I say
Speaker 13: in the book, overinvested, and try to think about what
Speaker 13: is needed from us so that children could be set
Speaker 13: up as well as possible for success.
Speaker 4: And it seems like moms are taking a lot of
Speaker 4: the brunt of this to you, what are the consequences
Speaker 4: to what you call actually child rearing on steroids? Right?
Speaker 13: Trying to be a little bit provocative here to note
Speaker 13: that this is not just run of the mill child rearing.
Speaker 13: This is not natural, does not have to be the case.
Speaker 13: We've seen differences across time and in different countries. And
Speaker 13: so because it's exhausting us so much, it's time to
Speaker 13: ask the question, what do we really owe our children?
Speaker 13: Is it this exhausting, draining financially and emotionally parenting or
Speaker 13: is it time to think of about how much this
Speaker 13: impacts us as parents to the point of parental burnout
Speaker 13: that US Surgeon General noted in an advisory in twenty
Speaker 13: twenty four, calling it a public health crisis, but also
Speaker 13: the consequences for our children. Are they doing all right
Speaker 13: with all that over involved parenting?
Speaker 4: Well, Nina, you're a mother yourself. How do you find
Speaker 4: that right balance? What's the answer?
Speaker 2: Very?
Speaker 13: Very hard. I will be the first one to admit
Speaker 13: that it's so hard to change. It feels impossible to
Speaker 13: do differently. And I live in the same reality as
Speaker 13: everyone else. But it is social pressures and social norms
Speaker 13: and the structures that we have in our society that
Speaker 13: are not very supportive of families that influence how we
Speaker 13: are in this modern parenting reality, very troubled parenting reality.
Speaker 13: So I say to myself from time to time, Nina,
Speaker 13: your child is not an investment project. Parenting is not
Speaker 13: supposed to be grueling labor. It's not supposed to be
Speaker 13: so stressful. What can we do differently today? How can
Speaker 13: I seek other moms to think about this together? Because
Speaker 13: only as a society we can make true change.
Speaker 4: Oh, Nita, you make it sound so easy. Thank you
Speaker 4: so much, really appreciate the time. The name of the
Speaker 4: book again is over Invested the emotional Economy of modern parenting.
Speaker 4: Stay with us for more on Bloomberg this weekend. Right
Speaker 4: after this.
Speaker 7: Both time for this weekend's pointed news quiz. I'm excited
Speaker 7: as always to see how I fare.
Speaker 3: I know you're excited as well. Let's go to Lisa
Speaker 3: my Table's the categories.
Speaker 2: What torture do you have for today?
Speaker 4: Okay, So for those of you playing at home, maybe
Speaker 4: you're not familiar with the game. Okay, so we have
Speaker 4: three different categories. They each have ten chips and groups
Speaker 4: of three, so thirty ships total in front of them.
Speaker 4: They will base their bets on each category. So if
Speaker 4: they feel comfortable about the first one, you can maybe
Speaker 4: put ten, maybe you want to put twenty, depending on
Speaker 4: which you have your whiteboards and you write your answers.
Speaker 4: There are you ready for your Yeah.
Speaker 3: In the past, I've not put ten on each and it's.
Speaker 2: So I'm just gonna split.
Speaker 7: A strategy. I've watched her success week after week.
Speaker 4: I think he's onto. I think he's onto Christina.
Speaker 7: Okay.
Speaker 4: The first one is Ted Turner, second is pharmaceuticals, and
Speaker 4: the third is finance. Great categories, all good categories. You
Speaker 4: ready for Ted Turner. For those of you playing at home,
Speaker 4: why not? There's no multiple choice for you if you're
Speaker 4: playing right now. Ted Turner's idea to broadcast the local
Speaker 4: station to a broader range of cable systems started a
Speaker 4: new TV concept called what what is this TV concept?
Speaker 7: New TV? Okay, all right, think about it.
Speaker 2: What it's called?
Speaker 11: This group?
Speaker 4: Okay reads superstation TVs, superstation super as well.
Speaker 3: I always wondered what that meant when I was a
Speaker 3: kid watching TV.
Speaker 13: That's what that means.
Speaker 4: Superstations, super station.
Speaker 2: Alright, you're going to ask the ex wife, was I
Speaker 2: was ready for that one?
Speaker 4: That's definitely not on.
Speaker 7: Very nice yeah, remarks upon the passing, you.
Speaker 2: Called him her favorite ex husband puts it on this aspire.
Speaker 7: There you go, such a memory.
Speaker 4: Pharmaceutic All right, there we go. Okay, Eli, Lilly's mon duro. Okay,
Speaker 4: it's surpast which mark cancer therapy as the world highest
Speaker 4: grossing prescription medication. What is the name of that cancer
Speaker 4: therapy medication? Prescription medication from.
Speaker 7: Merk pills kids. There, it's like a spelling Bee.
Speaker 2: This is not going well.
Speaker 4: But interesting though, right Monduro surpassed marks cancer therapy.
Speaker 2: It's kind of crazy.
Speaker 4: I know it's an interesting topic. What is the name
Speaker 4: of that cancer therapy description? Do you have no idea?
Speaker 7: You advertising?
Speaker 4: If if you're playing it online, they do give you
Speaker 4: multiple choices, you'll have a better chance.
Speaker 2: Going to.
Speaker 7: Finance is going to be the secret to our shared success.
Speaker 4: Oh you got this one? I know you don't have
Speaker 4: this one.
Speaker 7: I appreciate that you're going.
Speaker 4: To go all in. Okay, which billionaire ceo rallied against
Speaker 4: New York City Mayor Mondami for signaling him out in
Speaker 4: a plan to tax Second, you just talked we did.
Speaker 3: Yeah, talked about two of them though, So which one
Speaker 3: was it?
Speaker 2: I can't My brain is fried and I don't care
Speaker 2: a smile. All right, that's all I got. That's all
Speaker 2: I got.
Speaker 7: What'd you right, Ken Griff? I told you sweet as.
Speaker 4: The mayor called him out two hundred and thirty eight
Speaker 4: million dollars Central Park.
Speaker 3: So yes, Donna filed this video in which she showed
Speaker 3: that behind him and Ken Griffin didn't appreciate that. I
Speaker 3: should Saykim Griffin, I believe it doesn't live in that
Speaker 3: apartment very much.
Speaker 2: So he does.
Speaker 7: A plus million dollars. We're just gonna take these che No,
Speaker 7: you got a bonus. No, she lost, she's.
Speaker 4: Taking yet nothing, she's lost anything.
Speaker 3: Happening it for fun, doing it for fun, and I'm
Speaker 3: feeling great.
Speaker 7: He's feeling really good.
Speaker 4: Right now, we're going to talk about this elon Musk
Speaker 4: is a bonus. The question is SpaceX is proposing to
Speaker 4: spend at least fifty five billion dollar on a semiconductor
Speaker 4: facility alongside Tesla. It's the first step on what Musk project?
Speaker 4: What is the name of this project he's working on
Speaker 4: to make these trips? You remember I got the name
Speaker 4: of it HYPERI No, no, no, Terrafab, Tifab yes, Tarafab
Speaker 4: is it. He wants to make the chips for all
Speaker 4: his different enterprises, different business Listen, we didn't.
Speaker 3: Get that, boss, but I'm happy that I won the game.
Speaker 7: You have won.
Speaker 4: We have to mark this down.
Speaker 7: This is very thank you. Well, we don't have to
Speaker 7: make that big a deal about it. It's not like.
Speaker 13: I mean, but look at your face.
Speaker 2: Wait, a long weekend and lots of news are Tansburg
Speaker 2: very hard. It's a nice way to end the weekend.
Speaker 2: We'll give you this one, but I'm coming for.
Speaker 6: You next week.
Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast.
Speaker 2: Don't forget to tune in live for the show every
Speaker 2: Saturday and Sunday morning, starting at seven am Eastern.
Speaker 3: We're on Bloomberg Television Radio and the Bloomberg Business App,
Speaker 3: bringing you unique takes and in depth interviews on news, politics, lifestyle,
Speaker 3: and culture.