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Speaker 1: Why from our nation's camera this budget thing is going

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Speaker 1: to do nothing with space forts. I still think it's

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

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Speaker 1: and Politics Colliding Floomberg Sound On, The Insiders, the influencers,

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Speaker 1: the insides. I would rather see a congressional solution. It's

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Speaker 1: part of my DNA. The Senate map in looks a

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Speaker 1: lot different than it looked in. You really have a

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Speaker 1: divide within Team Trump. The President has to do exactly

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Speaker 1: what people send him here to do, which is to

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Speaker 1: get it done. This is Bloomberg Sound On with Kevin

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Speaker 1: Shirley on Bloomberg and one oh five point h D two.

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Speaker 1: US China trade jolts. President Trump bows to economic concerns

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Speaker 1: in a move to delay China tariffs. But for how long.

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Speaker 1: We'll dive into the policy weeds to help you cipher

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Speaker 1: through what's going on and what is a busy August

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Speaker 1: recess for US China trade talks. Meanwhile, President Trump just

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Speaker 1: this afternoon says that China is moving troops to its

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Speaker 1: board with Hong Kong. The President has had a lot

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Speaker 1: to say this afternoon via social media regarding the Hong

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Speaker 1: Kong protests. Will dive into that as well, plus the

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Speaker 1: latest from the presidential campaign trail as Kamala Harris tries

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Speaker 1: to revive her faltering poll numbers on an Iowa bus tour,

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Speaker 1: All Star panel to help us navigate through the policy

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Speaker 1: and politics of a beautiful Tuesday here in Washington, d C. A. B. Standard,

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Speaker 1: Associate editor and columnists at Real Clear Politics. Joe Crowley,

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Speaker 1: former New York Congressman and Democratic Caucus Chairman. It was

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Speaker 1: a busy, busy day in terms of policy news, and

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Speaker 1: it really spans around the globe with the US and China.

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Speaker 1: I want to start with the developments regarding trade policy,

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Speaker 1: and coming up later on in the program will discuss

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Speaker 1: the Hong Kong element because the President weighing in on

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Speaker 1: the protests in Hong Kong and the U US China

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Speaker 1: trade talks really front and center this morning. Here with

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Speaker 1: me for the hour. A. B. Stoddard, Associate editor and

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Speaker 1: columnists at Real Clear Politics, A friend of the show,

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Speaker 1: a friend of mine, as is Joe Crowley, former New

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Speaker 1: York congressman and Democratic Caucus chair Thank you both for

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Speaker 1: being here. So the news earlier today President Donald Trump

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Speaker 1: is how it's being interpreted. Bowing to pressure from US

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Speaker 1: businesses and concerns over the economic fallout of the trade

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Speaker 1: war with China, and what he decided to do a

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Speaker 1: B was delay the imposition of new tariffs on a

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Speaker 1: wide variety of consumer products, including toys, toys i e.

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Speaker 1: Holiday shopping until December. So if you're if you're in

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Speaker 1: the laptop industry, with how the chips are made to

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Speaker 1: make laptops as well as toy products, we can talk

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Speaker 1: all about intellectual property with toys and plastics and other commodities.

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Speaker 1: Those tariffs have been delayed until mid December. Wow out

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Speaker 1: back off a recalibration. It definitely is because his people

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Speaker 1: around President Trump, as they often do, have been talking

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Speaker 1: to the media behind his back on background about how

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Speaker 1: much they have objected to his recent decisions, about how

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Speaker 1: he tweeted out the currency manipulation designation, and that the

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Speaker 1: Treasury Department had to scramble five hours later to officially

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Speaker 1: make a formal statement that they object to the new

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Speaker 1: round of tariffs, that he's alone, ranger and he's not

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Speaker 1: listening to anybody anymore. Uh, And they think it's a

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Speaker 1: bad idea and someone must have the message that he

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Speaker 1: was going to risk his reelection in a serious way

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Speaker 1: must have penetrated. There were alway also a devastating round

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Speaker 1: of stories about farmers in the last thirty six hours.

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Speaker 1: And I do think that, um, the president did retreat.

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Speaker 1: I did think the holiday reference was a bit of

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Speaker 1: a canard because this is I mean, basically December fifteen.

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Speaker 1: People he could still slept tariffs down and ruin everyone's

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Speaker 1: holiday season and really depressed consumer confidence and throw the

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Speaker 1: markets into a bigger state of despair. So I think

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Speaker 1: that's sort of an excuse, but it was definitely a retreat.

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Speaker 1: And I think it's actually Kevin, you know, given new

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Speaker 1: meanings to shoot from the hip. You know. It's like

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Speaker 1: I think it was right. It's it's the president, you know,

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Speaker 1: goes off without much of a script, I think, and

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Speaker 1: hoping they can reel back in, and when they can't,

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Speaker 1: they use other resources to try to get him to

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Speaker 1: see the light. I think here, you know, with with

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Speaker 1: the the the holiday shopping coming up, at some point,

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Speaker 1: people realize that, you know, this really probably wasn't a

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Speaker 1: really good idea. Uh and uh, I think you're right

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Speaker 1: about the farmers. I think they're really suffering. And I've

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Speaker 1: seen some footage of farmers um in Iowa talking about

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Speaker 1: how they're struggling right now. They don't want to hand out,

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Speaker 1: They're not looking there. They're looking for free markets, are

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Speaker 1: looking for markets to sustain them, and that that's not

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Speaker 1: happening right now. And Kevin, I think that what the

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Speaker 1: Chinese have concluded, or at least President's top trade advisors

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Speaker 1: except for Peter Navarro have conclude. Did that the Chinese

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Speaker 1: have concluded is that they can ride Trump out and

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Speaker 1: in a pre election panic, he'll give them an egg

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Speaker 1: only deal that doesn't satisfy his original mandate. I p THEFT,

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Speaker 1: I want to build that underline it highlighted, but I

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Speaker 1: mean the fact that they said this week no more

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Speaker 1: I purchases at all. I mean the farmers have been

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Speaker 1: holding on to, you know, anything they could hold on to.

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Speaker 1: As the Congressman said, they want markets, not bailouts. They

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Speaker 1: want certainty, not chaos. And this long term, this sort

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Speaker 1: of new picture where the Chinese look like they're digging

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Speaker 1: in for the long term, is really bleak. Uh. And

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Speaker 1: I think that the long term damage, as we've discussed

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Speaker 1: in your show many times, Kevin to the supply chain.

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Speaker 1: It's just I mean, it might not be irreparable, but

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Speaker 1: he'll take years to turn around. You know else, Kevin,

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Speaker 1: You think about the farmers, They really, I think, genuinely

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Speaker 1: believe that they are Americans beyond anything else. They really

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Speaker 1: are willing to sacrifice for the country if they know

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Speaker 1: what the end goal is here, and no one seems

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Speaker 1: to really know what that is. The president knows where

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Speaker 1: it's going to end. They see it's not a planet.

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Speaker 1: Are you're asking it to sacrifice to what end? I mean?

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Speaker 1: I think they want to be good Americans. They want to,

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Speaker 1: you know, support the government to do the right thing.

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Speaker 1: But at the same time, they don't see an end here,

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Speaker 1: and and and they're really suffering. Markets don't see Ina either.

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Speaker 1: Bloomberg News Bloomberg did an analysis based off of the

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Speaker 1: trade developments earlier today, and I'm looking at the Bloomberg

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Speaker 1: terminal as I speak, as as I try to crunch

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Speaker 1: these numbers, because essentially, what the President had said earlier

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Speaker 1: a couple of weeks ago, is that he was going

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Speaker 1: to raise tariffs on three hundred billion dollars worth of

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Speaker 1: products from China. What they did today is essentially split

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Speaker 1: that in half, so that you've got one chunk of

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Speaker 1: about a hundred and ten billion dollars, and that includes clothes, kitchenwear,

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Speaker 1: footwear that is still going to be tariffed on September one,

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Speaker 1: according to the Bloomberg News analysis. But the big ticket

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Speaker 1: categories smartphones, laptops, toys worth about a hundred and sixty

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Speaker 1: billion dollars, they're gonna get that extension to be subject

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Speaker 1: to tariffs until after December fifteen. So, I mean, it

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Speaker 1: is it is fascinating you a couple that a B

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Speaker 1: and Joe too, to both of your points in terms

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Speaker 1: of what a jeep I did at the FCC today

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Speaker 1: with earlier this week in terms of trying to expand

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Speaker 1: five G coverage to rural America. They're they're given the

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Speaker 1: you know, carrots and carrots away to to to rural

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Speaker 1: communities and and to to so many of these folks

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Speaker 1: who are are hit by by this. But you know,

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Speaker 1: I'm still waiting and coming up we're gonna dive into

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Speaker 1: but I'm still waiting for the Democrats to have a

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Speaker 1: debate on tariffs because and this is where I'm really

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Speaker 1: interested in terms of the Chinese, because if they are

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Speaker 1: playing a long game. I mean, what if it's President

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Speaker 1: Elizabeth Warren, what if it's President what if it's President

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Speaker 1: Bernie Sanders. They've advocated to use tariffs in the past,

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Speaker 1: time and time again. Yeah, I think the Congressman can

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Speaker 1: speak to where the party is on this. I think

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Speaker 1: it's um you know, coming from the center. Uh you know.

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Speaker 1: And I think the fact that the party has abandoned

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Speaker 1: free trade is a huge mistake. The numbers for free

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Speaker 1: trade are going through the roof in terms of support

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Speaker 1: among Americans. That Donald Trump has made this country love

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Speaker 1: trade again because his unilateral approach to trade is dysfunctional.

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Speaker 1: The way we bring China um to the table and

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Speaker 1: to scare them about their cheating is together with our allies,

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Speaker 1: not alone. And so if you hear the answers on

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Speaker 1: the debate stage from the Democrats, it's like, uh, better

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Speaker 1: is the only one who could stand up and say

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Speaker 1: tariffs are bad? And so I I really I think,

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Speaker 1: but I don't feel like Okay, I do think also,

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Speaker 1: just too quickly, and I do want to hear from

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Speaker 1: the congressman. I just want to say, appreciate, appreciate your data.

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Speaker 1: From the weeds Kevin. But just the farmers know more

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Speaker 1: about trade than like a lot of them, and so

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Speaker 1: they have here President Trump say, I don't have a plan,

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Speaker 1: because what he's saying is we'll see what happens. China

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Speaker 1: wants to make a deal, and they know China doesn't

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Speaker 1: want to make a deal, certainly not before the elections.

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Speaker 1: I think they're gonna wait till that the elections for

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Speaker 1: any deal. But I do agree, I think the party

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Speaker 1: position is schizophrenic at this point in time, and I

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Speaker 1: think the President has turned trade upside down on its

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Speaker 1: head a bit and certainly times but look at you know,

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Speaker 1: Democrats have been talking about you know, currency manipulation for

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Speaker 1: decades fairly with China, and you know, to some degree

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Speaker 1: the president but they're liking it. And I think he

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Speaker 1: has no plan um is making these moves. So it

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Speaker 1: makes it sometimes difficult to say, like a Tim Ryan

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Speaker 1: who has been talking about you know, currency manipulation for

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Speaker 1: the past few years, and other Democrats really cry foul.

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Speaker 1: But um, you know, I do think you're right, Um,

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Speaker 1: that Democrats are a bit confused here. All right, you

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Speaker 1: can't talk about China policy and a vacuum coming up.

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Speaker 1: We're gonna talk about the latest with regards to Hong Kong.

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Speaker 1: The President weighing in this afternoon via Twitter with regards

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Speaker 1: to the protests in Hong Kong. We'll dive into that

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Speaker 1: with Joe Crawley ab stodd Download the Bloomberg Sound On

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Speaker 1: podcast on Apple, iTunes, at Bloomberg dot com, or by

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Speaker 1: downloading Bloomberg Business App. You can also find me on

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Speaker 1: Radio dot com, I Heart Radio and Spotify. I'm Kevin Cerelli,

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Speaker 1: Chief Washington correspondent from Bloomberg TV and Bloomberg Radio. And

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Speaker 1: you're listening to Bloomberg. This is Bloomberg's Sound On with

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Speaker 1: Kevin Surreley on Bloomberg one and one oh five point

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

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Speaker 1: Chief Washington Correspondent FRO Bloomberg Television, Bloomberg Radio. I'm brought.

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Speaker 1: I'm back from New York after that Jason Greenlett interview yesterday.

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Speaker 1: You can watch the full interview by following us on

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Speaker 1: all the different platforms iTunes, Radio dot Com, I Heart Radio, Spotify,

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Speaker 1: and of course on YouTube as well and Bloomberg TV

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Speaker 1: dot com. A B. Stoddard tire She's associate editor and

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Speaker 1: columnists at Real Clear Politics. Joe Crowley, former New York

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Speaker 1: Congressman and chairman of the Democratic Caucus. We were talking

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Speaker 1: earlier about US China trade relations, about the president's decision

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Speaker 1: to split off about hundred sixty billion dollars worth of

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Speaker 1: tariffs and punt kicked the can down the road, whatever analogy,

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Speaker 1: whatever phrase that we all use here in Washington, uh

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Speaker 1: overuse until December with regards to raising tariffs on China

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Speaker 1: trade goods. But the other major development brewing in the

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Speaker 1: background is what's happening the protests in Hong Kong. Because

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Speaker 1: protesters have continued to clash with police outside of Hong

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Speaker 1: Kong's Airport. There was a standoff. There's been viral social

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Speaker 1: media accounts of these protests as hundreds of black I'm

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Speaker 1: reading from the Bloomberg terminal, hundreds of black shirted protesters

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Speaker 1: staged a sit in at the departures hall at Hong

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Speaker 1: Kong International Airport, preventing some checked in passengers from reaching

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Speaker 1: their planes. I mean, have you guys ever been to

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Speaker 1: the Hong Kong's Airport. I was there coming back. Actually,

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Speaker 1: I had a layover when I was over in Vietnam

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Speaker 1: cover in the last summit. I mean, this is a massive,

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Speaker 1: massive airport and to have these protesters really there. Joe Crowley, Uh,

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Speaker 1: what does it mean? I mean, I don't even want

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Speaker 1: to go for the business angle yet. What does it

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Speaker 1: mean for China right now that once again Hong Kong

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Speaker 1: protests are are flaring up. Well, that's the big question.

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Speaker 1: Where where will this all end? It's been ten weeks

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Speaker 1: this has been going on now. Originally started over an

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Speaker 1: extradition treaty um that they were protesting, and now it

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Speaker 1: is it's really morphed into other issues, including police brutality

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Speaker 1: that they're protesting. But really we don't know exactly where

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Speaker 1: how it's gonna end. Like I can only anticipate, you know,

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Speaker 1: knowing tenement squad, knowing how the Chinese can crack down

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Speaker 1: that this this probably won't have a happy ending as well.

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Speaker 1: When I was at Where was It the other week,

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Speaker 1: Larry Cudlo spoke one of the thing tanks here and

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Speaker 1: I asked him about the protests and I said the

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Speaker 1: same question, you know, what, what what does the US

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Speaker 1: make of this? And he really gave a vague sort

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Speaker 1: is keeping watch on it. And that was really the

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Speaker 1: line that Secretary Pompeo gave to me when I interviewed

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Speaker 1: him the other week. But that changed today a be

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Speaker 1: because President Trump tweeting out just this afternoon quote, our

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Speaker 1: intelligence has informed us that the Chinese government is moving

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Speaker 1: troops to the border with Hong Kong. Everyone should be

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Speaker 1: calm and safe, And then in a tweet right before that,

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Speaker 1: he said, many are blaming me and the United States

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Speaker 1: for the problems going on in Hong Kong. I can't

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Speaker 1: imagine why. I mean, what he's what he's referencing is

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Speaker 1: the allegations from China state run media that this is

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Speaker 1: a color revolution and essentially that the US is behind this.

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Speaker 1: And it seems like he's sort of like poking them

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Speaker 1: a little bit. I mean, I am I misinterpreting. I

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Speaker 1: don't think he is. Actually I read it the reverse

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Speaker 1: way that he's refusing. He's put no pressure on the

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Speaker 1: Chinese over the detention of a million week ers. He

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Speaker 1: has no interest in um human rights, uh their violations

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Speaker 1: of human or religious rights with among their population. He

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Speaker 1: completely ignores it. And he has not offered any support

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Speaker 1: to the people in Hong Kong or warning to the

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Speaker 1: Chinese government about the potential for violence. And so my

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Speaker 1: my take on that tweet was like he's just being

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Speaker 1: an anchor of a TV show and telling us about

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Speaker 1: something really consequential that they're moving troops to the border, um,

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Speaker 1: which is which could cause the potential for for violence

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Speaker 1: against the protesters. And then he just says, be calmbies

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Speaker 1: save in this super detached neutral way. And this government

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Speaker 1: has taken pains, like you said, Larry Cutler did, to

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Speaker 1: just sort of not acknowledge that we have a voice

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Speaker 1: in this debate. Um. And I can't imagine another US

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Speaker 1: president just not having said something. I don't know if

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Speaker 1: if they're I hope they're privately warning the Chinese against

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Speaker 1: sunny bloodshed, um, but it really is. UM. So I

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Speaker 1: understand why the Chinese propaganda would entail, you know, blaming us,

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Speaker 1: because the protesters are using our flags and seeing our

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Speaker 1: anthem and doing things like that and talking about political reforms.

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Speaker 1: So it's sort of an easy out, uh to use

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Speaker 1: that now. But I think actually that there's a role

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Speaker 1: for a US administration in in saying something, um, you know,

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Speaker 1: in a way that his response might be his response

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Speaker 1: might be, if you commit violence, we might put tariffs

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Speaker 1: on your goods coming to America, you know, I mean

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Speaker 1: last he has never stood up for democracy even here

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Speaker 1: in America, you know, and never said up for democratic states.

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Speaker 1: I can, I can. I can't recall when he stood

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Speaker 1: up for a democratic state. Having difficulties overseas. Uh. And

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Speaker 1: he's coddled to dictators, He's coddled up with with with strongmen. Uh.

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Speaker 1: So you know what will the Chinese expect? Responsing that

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Speaker 1: states debate well. Senate Majority Leader Rich McConnell yesterday said

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Speaker 1: that any violent crackdown in Hong Kong would be quote

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Speaker 1: unquote completely unacceptable. And I do want to I do

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Speaker 1: want to read something that Morgan or Tegus if you

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Speaker 1: heard of her Morgan spokesperson at the State's Department, Morgan

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Speaker 1: or A Tegas, that she said on Friday because she

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Speaker 1: has she tweeted out, quote Chinese authorities know full well

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Speaker 1: our accredited consular consular personnel are just doing their jobs,

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Speaker 1: just like diplomats from every other country. Because what China did,

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Speaker 1: to AB's point was to push this narrative that the

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Speaker 1: US was somehow behind this, and they tweeted out this

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Speaker 1: picture of a diplomat. And not only did they did

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Speaker 1: did they tweet out the picture of the diplomat, but

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Speaker 1: they named the diplomat he was him and her children

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Speaker 1: they named her children, and she called Morgan said that

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Speaker 1: this was this was a quote unquote thugish regime. So

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Speaker 1: there are some folks who who are taking a much

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Speaker 1: more I think, you know what. I think that what

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Speaker 1: the Senate Majority leader did was the right thing. And

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Speaker 1: he's the highest ranking official in this separating, coequal branch

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Speaker 1: of government. But I think it's it's incumbent upon someone

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Speaker 1: higher up than Morgan. Artagas in a tweet to tell

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Speaker 1: this the rising aggressive China where the U S stands,

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Speaker 1: and it's I think it is incumbent on President Trump,

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Speaker 1: if not Vice President Mike Pence or Secretary of State

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Speaker 1: Mike Pompey. A great I think that, uh it begs

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Speaker 1: a response, and yet the President is going back to

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Speaker 1: it's not my fault. You know, he's always a victim.

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Speaker 1: All right, let me let me spin this just quickly

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Speaker 1: or come actually, you know what, I'm gonna save it.

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Speaker 1: Coming up, we're going to talk about whether or not

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Speaker 1: whether or not this is a is a long term

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Speaker 1: problem for China and whether or not it will have

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Speaker 1: impact on China's economy. Panel stays Abe's daughter Joe Crowley.

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Speaker 1: You can download the Bloomberg sound On podcast on Apple

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Speaker 1: iTunes and Bloomberg dot Com, or by downloading the Bloomberg

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Speaker 1: Business app. You can also find us on Radio dot Com,

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Speaker 1: I Heart Radio, and Spotify. I'm Kevin Sirelli. You're listening

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Speaker 1: to Bloomberg nine one. This is Bloomberg's sound On with

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Speaker 1: Kevin Surreley on Bloomberg one and one oh five point

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Speaker 1: seven FM h D two. I'm Kevin Cirelli, Chief Washington

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Speaker 1: correspondent with Bloomberg TV, Bloomberg Radio. Aby Stoddards here. She's

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Speaker 1: associate editor and columnists at Real Clear Politics. Joe Crawley's

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Speaker 1: tapping along to Bruce the Boss, former New York congressman

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Speaker 1: and Democratic Caucus chair. He named his dog after Bruce Springsteen.

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Speaker 1: You know, I'm kind of like I've been. My allergies

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Speaker 1: as I've gotten older, as I've come into myself, have

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Speaker 1: really started to pick up. I can't be around horses,

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Speaker 1: can't be around hey, can't be around hyper allergenic dogs.

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Speaker 1: But if I had a dog, I think I would

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Speaker 1: name it either Fits or Bruce, after Bruce Springsteen, Bruce

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Speaker 1: Springsteen dog, and it's Bruce Springsteen Crowley we have. UM.

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Speaker 1: I want to put a talk about a pivot that

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Speaker 1: I'm about to make. I want to put a period

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Speaker 1: on the conversation that we were having about Hong Kong,

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Speaker 1: just very quickly. Do you think that that the Hong

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Speaker 1: Kong protest posed any significant risk to China a President

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Speaker 1: Shi Jing Ping as they negotiate things like with the

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Speaker 1: US on on I don't. I don't think presents any

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Speaker 1: real physical threat. I think it's more perception. UM. I

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Speaker 1: think that's the issue here. The Chinese are very very

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Speaker 1: skittish about um, you know, what's proper China, uh. And

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Speaker 1: and they believe, and they certainly all right that after

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Speaker 1: the transfer back in the nineties from Britain to China,

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Speaker 1: it is there, it's part of them. But you know,

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Speaker 1: it's these these incremental this has been happens over some time,

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Speaker 1: incrementally in terms of restrictions that strictions have been brought, um,

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Speaker 1: but to the people of Hong Kong. And so it's

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Speaker 1: really what the reaction is going to be to this um,

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Speaker 1: you know, I I just don't see it. They they

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Speaker 1: haven't really ended well to begin with, so I'm not

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Speaker 1: all that hopeful. I mean, I think if the Chinese

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Speaker 1: end up with the military crackdown, that's going to be

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Speaker 1: a long term problem. UM. I think if they find

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Speaker 1: a way to uh bury the extradition bill um, which

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Speaker 1: has been um it's sort of I don't know, on

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Speaker 1: the back burner, but not officially dead. And so that's

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Speaker 1: why there's concerned. But as the Congressman said, now they're talking,

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Speaker 1: they're talking there. The protesters are talking about police brutality

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Speaker 1: as a result of the ten weeks and political reforms.

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Speaker 1: They want to see maybe if the Chinese can find

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Speaker 1: a way to sort of make this quiet down by

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Speaker 1: by just distancing themselves from the from the extradition bill,

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Speaker 1: they can quiet this down. There can be no bloodshed,

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Speaker 1: and they really can't have a violent scene because that

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Speaker 1: becomes a long term you know. And I don't want

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Speaker 1: to conflate stories, but it is I just want to

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Speaker 1: put a final marker on this before we move on

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Speaker 1: to I just was I was thinking about this and

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Speaker 1: I hate to be one of these people, but I'm

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Speaker 1: about to be one of those people on the ASCELA

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Speaker 1: back into Washington last night. And I mean, you look

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Speaker 1: at the protests in Hong Kong and what are we

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Speaker 1: talking about police brutality av That's what you just mentioned.

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Speaker 1: We all know very well the conversations that are being

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Speaker 1: had in America politics over the past several years with

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Speaker 1: regards to the relationship between the police and and police

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Speaker 1: force and criminal justice reform and whatnot. And then you

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Speaker 1: look at the protests over the weekend in Moscow as well,

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Speaker 1: where there was also massive protests and Moscow about expanding

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Speaker 1: the rights to opposition parties to be able to run

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Speaker 1: and down ballad elections coming up in Moscow. I mean,

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Speaker 1: it's a fascinating time in terms of global superpowers and

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Speaker 1: what's happening. Uh. And it's it. They're all very different,

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Speaker 1: but they do have similarities and we're living through it.

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Speaker 1: We're also living through the cusp of the dawn of

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Speaker 1: the presidential election. They were all in Iowa. I think

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Speaker 1: some of them still are. I think people to judge

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Speaker 1: is still in Iowa. Uh. And I don't know. I mean,

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Speaker 1: I think Senator Elizabeth Warren has continued to really be

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Speaker 1: the stealth sleeper candidate that's really ascended. She was in

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Speaker 1: New Hampshire today in upstate New Hampshire, and Bernie Sanders

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Speaker 1: has headed back there as well, and clearly, clearly she

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Speaker 1: has caught the attention of President Trump. Listened to what

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Speaker 1: President Trump had to say earlier today he was in

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Speaker 1: Pennsylvania as well as campaigning, and he sized up the

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Speaker 1: Democratic field. Here's President Trump. She's staging a comeback on

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Speaker 1: Sleepy Joe. I don't know who's gonna win, but we'll

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Speaker 1: have to hit Polka. Hunt is very hard again if

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Speaker 1: she does win, but she's staging a little bit of

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Speaker 1: a comeback. What a group PoCA Hunts and Sleepy Joe,

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Speaker 1: not not you Joe, probably what what a group? He

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Speaker 1: has another nickname for me, but that's okay, I'm not

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Speaker 1: I'm not here to again. But uh, you know, you know,

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Speaker 1: the polls have showed that Biden kind of crept up

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Speaker 1: a little bit, but Warren has really got a bit

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Speaker 1: of significant bump here. But I think it's really interesting, though,

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Speaker 1: is that how poorly Bernie's doing. I think that the

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Speaker 1: field certainly has is so expansive, unlike four years ago

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Speaker 1: when it was basically you put Martin aside for a moment,

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Speaker 1: Hillary and Bernie. If you didn't like Hillary, you had

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Speaker 1: to be for Bernie. That doesn't but that doesn't exist anymore.

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Speaker 1: Now you have multiple candidates, and especially lit with Warren,

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Speaker 1: who's going to give him a tough time in Iowa

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Speaker 1: and especially in New Hampshire. And I think it's it's

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Speaker 1: it's tough days of Bernie. I think ahead maybe well,

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Speaker 1: I have contended all along. The Bernie Sanders is for

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Speaker 1: his ego and he's going to stay in it as

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Speaker 1: long as he can retain a durable enough percentage of

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Speaker 1: the coalition that he can take it to the vention

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Speaker 1: and re elect Donald Trump. That's my personal view. Um.

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Speaker 1: But the hope of the Elizabeth Warren fans is that

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Speaker 1: she consolidated that Bernie, that Bernie is fading, and that

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Speaker 1: she will have a bigger chunk of that vote and

429
00:24:14,280 --> 00:24:16,679
Speaker 1: he she he will drop out and she will consolidate

430
00:24:16,720 --> 00:24:18,800
Speaker 1: his vote and she will have a larger margin than

431
00:24:18,920 --> 00:24:21,919
Speaker 1: Biden and become the front runner. And this is everything

432
00:24:21,920 --> 00:24:25,760
Speaker 1: you've said is true. Her army of true believers is everywhere.

433
00:24:25,760 --> 00:24:28,480
Speaker 1: They've laved the groundwork for months. They're hyper organized, they're

434
00:24:28,520 --> 00:24:32,160
Speaker 1: totally devoted. It's incredibly impressive. She has embraced the grind.

435
00:24:32,640 --> 00:24:36,000
Speaker 1: She wants to incrementally win this. She doesn't go for

436
00:24:36,119 --> 00:24:39,399
Speaker 1: viral moments. She wants to earn every vote, every minute,

437
00:24:39,480 --> 00:24:42,720
Speaker 1: the hard way. She wants to be president, which most

438
00:24:42,760 --> 00:24:45,640
Speaker 1: people run for president they think that they should be president.

439
00:24:45,960 --> 00:24:49,840
Speaker 1: I really respect her work ethic and her dedication, but

440
00:24:49,880 --> 00:24:52,800
Speaker 1: there are people in the party who genuinely believe she

441
00:24:52,880 --> 00:24:56,040
Speaker 1: can be the nominee and she can beat Joe Biden,

442
00:24:56,480 --> 00:24:59,360
Speaker 1: but that they will have an unelectable general election nominee.

443
00:24:59,400 --> 00:25:02,199
Speaker 1: I want to pause there. Coming up, we're gonna we're

444
00:25:02,240 --> 00:25:05,119
Speaker 1: gonna talk more about that with Abe Solderd and Joe Crowley.

445
00:25:05,160 --> 00:25:07,920
Speaker 1: You can download the Bloomberg Sound On podcast on Apple iTunes,

446
00:25:08,080 --> 00:25:10,920
Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business app.

447
00:25:10,960 --> 00:25:13,080
Speaker 1: You can also find me on Radio dot com, I

448
00:25:13,280 --> 00:25:17,040
Speaker 1: Heart Radio, and Spotify. On Kevin Cirelli, Chief Washington correspondent

449
00:25:17,080 --> 00:25:20,560
Speaker 1: for Bloomberg Television Bloomberg Radio, you're listening to Bloomberg one.

450
00:25:22,800 --> 00:25:27,400
Speaker 1: This is Bloomberg Sound On with Kevin Surreley on Bloomberg

451
00:25:28,520 --> 00:25:30,880
Speaker 1: and one oh five point seven f m h D two.

452
00:25:32,240 --> 00:25:35,000
Speaker 1: There's a bop. I'm Kevin Sireli, chief Washington correspondent for

453
00:25:35,000 --> 00:25:38,800
Speaker 1: Bloomberg Television Bloomberg Radio. We're talking to all things politics

454
00:25:38,800 --> 00:25:44,200
Speaker 1: and policy. We've pivoted back to the campaign trail. As

455
00:25:44,240 --> 00:25:49,200
Speaker 1: Senator Elizabeth Warren rises continues to rise to the top

456
00:25:49,200 --> 00:25:52,040
Speaker 1: of the pack. She's got a fend off Bernie Sanders.

457
00:25:52,040 --> 00:25:55,159
Speaker 1: They're both campaigning this week at upstate New Hampshire, much

458
00:25:55,200 --> 00:25:58,240
Speaker 1: more rural part of the country, very similar to Iowa.

459
00:25:58,600 --> 00:26:01,600
Speaker 1: But Joe Biden talk about teflon Don Joe Biden, the

460
00:26:01,600 --> 00:26:04,199
Speaker 1: former vice president. I mean, everyone's taken shots at the

461
00:26:04,200 --> 00:26:06,679
Speaker 1: guy except Tulca Gabbard, But for the rest of them,

462
00:26:06,680 --> 00:26:09,320
Speaker 1: they're all taking shot shots at him. He's still leading

463
00:26:09,359 --> 00:26:11,640
Speaker 1: the polls. And I was saying this the other day.

464
00:26:11,680 --> 00:26:14,320
Speaker 1: And Abe's daughter's here, she's associate editor and columnists at

465
00:26:14,359 --> 00:26:17,160
Speaker 1: Real Clear Politics. Joe Crowley is here, former New York

466
00:26:17,160 --> 00:26:20,280
Speaker 1: Congressman and Democratic Caucus chairman. Joe I was saying this

467
00:26:20,320 --> 00:26:22,560
Speaker 1: the other day. I'm like, that's what's hard about being

468
00:26:22,560 --> 00:26:24,320
Speaker 1: the leader of the pack. You've got nowhere to go

469
00:26:24,400 --> 00:26:26,840
Speaker 1: but down, and in such a crowded field, It's like

470
00:26:26,880 --> 00:26:29,840
Speaker 1: he's turned himself into a political pinata. But I think

471
00:26:29,840 --> 00:26:32,800
Speaker 1: he's taking blow after blow and he continues to stand.

472
00:26:33,240 --> 00:26:36,639
Speaker 1: You know, the question is what is his floor? You know,

473
00:26:36,760 --> 00:26:40,359
Speaker 1: what is the flow for Joe Biden? And and I think,

474
00:26:40,800 --> 00:26:43,280
Speaker 1: you know, for me personally, I think it's probably around

475
00:26:44,800 --> 00:26:47,760
Speaker 1: somewhere between there. He is close to it now. Uh.

476
00:26:47,800 --> 00:26:50,359
Speaker 1: And I think if he can get through this, he'll

477
00:26:50,400 --> 00:26:52,520
Speaker 1: continue to be the front runner. I think a b

478
00:26:52,840 --> 00:26:54,600
Speaker 1: I mean and listen, what do I know. I'm just

479
00:26:54,680 --> 00:26:58,560
Speaker 1: a reporter. But you see him make these so called gaffs.

480
00:26:59,520 --> 00:27:02,280
Speaker 1: You would argue that back during the Obama White House

481
00:27:02,320 --> 00:27:04,520
Speaker 1: that part of his appeal was that he did make gaffs,

482
00:27:04,560 --> 00:27:07,160
Speaker 1: that he was authentic. What do you say, I mean,

483
00:27:07,840 --> 00:27:10,560
Speaker 1: is there a notion that he's so insulated by all

484
00:27:10,600 --> 00:27:13,880
Speaker 1: of the A team political advisors who are telling him

485
00:27:14,200 --> 00:27:16,639
Speaker 1: don't say this and say this? I mean, why not?

486
00:27:17,000 --> 00:27:19,879
Speaker 1: The way that the way that Trump got elected was

487
00:27:19,880 --> 00:27:23,320
Speaker 1: he would just say one gaff. Arguably maybe he didn't

488
00:27:23,320 --> 00:27:25,320
Speaker 1: think it was a gaff, but would say one thing

489
00:27:25,440 --> 00:27:27,560
Speaker 1: that would dominate things in like the next hour. I

490
00:27:27,680 --> 00:27:32,440
Speaker 1: loved the poorly educated, but I remember that Alzheimer, right,

491
00:27:32,520 --> 00:27:37,280
Speaker 1: I remember that she's quoting President Trump, but but so,

492
00:27:37,280 --> 00:27:41,040
Speaker 1: why don't let him just out? Okay, So there's two

493
00:27:41,040 --> 00:27:43,199
Speaker 1: schools of thoughts right now. And I've been trying to

494
00:27:43,400 --> 00:27:45,960
Speaker 1: query people about this for the last thirty six hours

495
00:27:46,000 --> 00:27:49,560
Speaker 1: because he had this wonderful speech last Wednesday in response

496
00:27:49,600 --> 00:27:52,160
Speaker 1: to the mass shootings and about what you know, one

497
00:27:52,160 --> 00:27:55,840
Speaker 1: of his great lines in and his everyone including Trump supporters,

498
00:27:55,880 --> 00:27:58,240
Speaker 1: knows who he is. Why don't we show him who

499
00:27:58,280 --> 00:28:01,840
Speaker 1: we are? And his owners and his supporters in his campaign.

500
00:28:01,920 --> 00:28:04,840
Speaker 1: They were so psyched with the response. David Axelrod was

501
00:28:04,880 --> 00:28:06,800
Speaker 1: on Twitter saying, this is like him at his best.

502
00:28:06,840 --> 00:28:09,320
Speaker 1: You know, it's a real moment for Joe Biden, which

503
00:28:09,359 --> 00:28:11,400
Speaker 1: he ruined in the coming days with a whole bunch

504
00:28:11,400 --> 00:28:14,440
Speaker 1: of gaffs. Some of some of them seemed age related,

505
00:28:14,920 --> 00:28:17,600
Speaker 1: Like he's like not just that he mixed up Sandy

506
00:28:17,640 --> 00:28:20,240
Speaker 1: Hook with Parkland, but that he was making stuff up

507
00:28:20,280 --> 00:28:22,919
Speaker 1: and he's been you know, he plagiarized in the past,

508
00:28:22,960 --> 00:28:25,080
Speaker 1: and you don't want to get into that. You don't

509
00:28:25,080 --> 00:28:28,119
Speaker 1: want him to get into Donald Trump making things up Land. Okay.

510
00:28:28,119 --> 00:28:31,320
Speaker 1: So it's very concerning because it opens up a vulnerability

511
00:28:31,520 --> 00:28:33,600
Speaker 1: with him on the left. That the left who's gunning

512
00:28:33,640 --> 00:28:36,520
Speaker 1: for Warren and all of the you know, woke Democrats

513
00:28:36,560 --> 00:28:39,000
Speaker 1: who are never Joe are going to be able to say, see,

514
00:28:39,280 --> 00:28:40,800
Speaker 1: where's he going to be a year from now. He's

515
00:28:40,800 --> 00:28:43,560
Speaker 1: seventy six years old, He's stale, he's old, he's tired,

516
00:28:43,560 --> 00:28:46,640
Speaker 1: he's forgetful, he can't stand the heat. And so that's

517
00:28:46,680 --> 00:28:49,080
Speaker 1: the vulnerability. I think once if he was a general

518
00:28:49,120 --> 00:28:52,280
Speaker 1: election candidate today making Gaff draft for Gaff, there are

519
00:28:52,280 --> 00:28:55,040
Speaker 1: a bunch of of of voters in the general election

520
00:28:55,080 --> 00:28:57,920
Speaker 1: will say we'll take him. But it's it's the it's

521
00:28:57,960 --> 00:29:00,880
Speaker 1: the pressure from the left that is only a vulnerability.

522
00:29:00,920 --> 00:29:03,240
Speaker 1: And I think you're right about that last point, especially

523
00:29:03,520 --> 00:29:05,800
Speaker 1: you know Democrats, if you want to win, that's what

524
00:29:05,840 --> 00:29:09,240
Speaker 1: they're looking at. Who is who who can beat Donald Trump?

525
00:29:09,520 --> 00:29:12,360
Speaker 1: And I think the polls are consistently showing that strength

526
00:29:12,440 --> 00:29:16,360
Speaker 1: is still there despite the attacks, that people perceive him

527
00:29:16,400 --> 00:29:18,920
Speaker 1: as someone who can beat Donald Trump. And you know,

528
00:29:19,680 --> 00:29:22,120
Speaker 1: it's not just him who's the it's not just Joe

529
00:29:22,120 --> 00:29:24,160
Speaker 1: Biden would be the president. It's him, it's his staff,

530
00:29:24,360 --> 00:29:26,840
Speaker 1: it's the people around him, it's a real state department

531
00:29:26,880 --> 00:29:29,520
Speaker 1: as opposed to an empty building here in Washington, d C.

532
00:29:29,960 --> 00:29:32,000
Speaker 1: It's not really engaging the world again. I think that's

533
00:29:32,040 --> 00:29:33,600
Speaker 1: what people are looking at. I want to I want

534
00:29:33,640 --> 00:29:36,200
Speaker 1: to talk Kamala Harris because she had that breakout moment

535
00:29:36,200 --> 00:29:39,520
Speaker 1: that really got all this started. Uh. She's a senator

536
00:29:39,520 --> 00:29:42,680
Speaker 1: from California. She took on Joe Biden at the first

537
00:29:42,680 --> 00:29:46,880
Speaker 1: debate in Miami, and she's she's really stumbled a little bit.

538
00:29:47,000 --> 00:29:51,280
Speaker 1: She hasn't really caught on. I I actually think it's

539
00:29:51,440 --> 00:29:54,680
Speaker 1: less to do with sort of the media viral moments.

540
00:29:54,680 --> 00:29:58,160
Speaker 1: And I mean, maybe I'm totally wrong, but the primary

541
00:29:58,200 --> 00:30:01,200
Speaker 1: and caucus voters are so plugged in, just like our audience,

542
00:30:01,240 --> 00:30:04,040
Speaker 1: so plugged into policy, and they know all of the

543
00:30:04,080 --> 00:30:08,000
Speaker 1: different policy nuances. I attribute this to her medicare plan

544
00:30:08,440 --> 00:30:11,160
Speaker 1: because I think that it doesn't go far enough to

545
00:30:11,240 --> 00:30:14,760
Speaker 1: satisfy the war in Sanders crowd. And I can tell

546
00:30:14,800 --> 00:30:17,480
Speaker 1: you that in private conversations with their staff, they bristle

547
00:30:17,920 --> 00:30:20,680
Speaker 1: at the notion that Kamala Harris's plan as medicare for all.

548
00:30:21,120 --> 00:30:24,720
Speaker 1: And I think that Biden successfully took down the plan

549
00:30:25,240 --> 00:30:28,520
Speaker 1: at the last debate and challenged her, and it was

550
00:30:28,800 --> 00:30:31,120
Speaker 1: a foreshadowing of how he will go after Sanders a

551
00:30:31,200 --> 00:30:33,760
Speaker 1: b by saying, you want to go to the unions

552
00:30:33,760 --> 00:30:35,800
Speaker 1: and tell them that they're that they that they can't

553
00:30:36,240 --> 00:30:38,000
Speaker 1: You want to go to the unions in Ohio, Michigan

554
00:30:38,000 --> 00:30:40,280
Speaker 1: with constin Pennsylvania where I grew up, and say that

555
00:30:40,360 --> 00:30:44,280
Speaker 1: you can't keep your healthcare. I think that Biden's takedown

556
00:30:44,440 --> 00:30:47,720
Speaker 1: of her plan just I agree with you, is very effective. Uh.

557
00:30:48,000 --> 00:30:50,160
Speaker 1: But what I think that those primary voters that you're

558
00:30:50,160 --> 00:30:52,160
Speaker 1: talking about who are so steeped in this no, is

559
00:30:52,200 --> 00:30:54,440
Speaker 1: that she's just not strong on policy. She's taken twelve

560
00:30:54,440 --> 00:30:57,440
Speaker 1: positions on healthcare, the number one defining issue of the

561
00:30:57,480 --> 00:31:02,640
Speaker 1: mid terms and likely action. She told Jake Tapper at

562
00:31:02,640 --> 00:31:04,880
Speaker 1: a cnntown hall in January that she's ready to go

563
00:31:04,960 --> 00:31:07,760
Speaker 1: full Medicare for all because we don't need any private insurance.

564
00:31:08,000 --> 00:31:10,560
Speaker 1: The day after the first debate, she said she she

565
00:31:10,640 --> 00:31:12,920
Speaker 1: misheard the question. She didn't want to take away everyone's

566
00:31:12,920 --> 00:31:15,640
Speaker 1: private insurance, just her own in order to have a

567
00:31:15,680 --> 00:31:20,200
Speaker 1: public program. It's it's been so bananas, and she's just

568
00:31:20,440 --> 00:31:23,280
Speaker 1: she's a really impressive candidate, but she has shown the

569
00:31:23,320 --> 00:31:27,000
Speaker 1: fact that she's no Elizabeth Warren. That's what I literally

570
00:31:27,040 --> 00:31:28,440
Speaker 1: took the words out of my mouth. I mean, that's

571
00:31:28,480 --> 00:31:30,480
Speaker 1: the difference between war and who I think has spent

572
00:31:30,520 --> 00:31:32,040
Speaker 1: the last I mean, I covered her since her first

573
00:31:32,120 --> 00:31:33,920
Speaker 1: day on the Senate Banking Committee. It was my first

574
00:31:34,000 --> 00:31:39,040
Speaker 1: day in covering Capitol Hill. Uh. And she has ingrained herself.

575
00:31:39,080 --> 00:31:43,120
Speaker 1: Elizabeth Warren has ingrained herself Joe Crawley into the apparatus

576
00:31:43,120 --> 00:31:46,760
Speaker 1: of the Democratic National Committee in a way that Kavala

577
00:31:46,840 --> 00:31:49,200
Speaker 1: Harris just has not. Well. I think it's a couple

578
00:31:49,240 --> 00:31:51,200
Speaker 1: of things. One is, I think it's not just Kamala Harris,

579
00:31:51,280 --> 00:31:53,720
Speaker 1: but I think Medicare for All took a real big

580
00:31:53,840 --> 00:31:56,800
Speaker 1: hit in terms of the last couple of weeks. But

581
00:31:57,120 --> 00:31:59,560
Speaker 1: I think the other part about Elizabeth Warren, which I

582
00:31:59,560 --> 00:32:02,000
Speaker 1: think is in this thing as well. I think if

583
00:32:02,040 --> 00:32:05,800
Speaker 1: others were talking about some of her policies, um, that

584
00:32:06,040 --> 00:32:08,160
Speaker 1: may sound crazy to the rest of the world, but

585
00:32:08,200 --> 00:32:11,360
Speaker 1: if you ask the average worker in Middle America, can

586
00:32:11,920 --> 00:32:15,360
Speaker 1: someone who's earning fifty million dollars a year um for

587
00:32:15,440 --> 00:32:17,760
Speaker 1: every dollar over fifty million, can they spare an extra

588
00:32:17,800 --> 00:32:20,400
Speaker 1: two cents to the American government. Whether the numbers add

589
00:32:20,520 --> 00:32:24,240
Speaker 1: up or not is almost irrelevant. That's a very attractive

590
00:32:24,480 --> 00:32:28,280
Speaker 1: I think proposition to average voters. You know, they don't.

591
00:32:28,440 --> 00:32:30,040
Speaker 1: They don't look at it as a wealth text because

592
00:32:30,040 --> 00:32:31,960
Speaker 1: you get to keep the fifty million first. Your first

593
00:32:32,000 --> 00:32:34,479
Speaker 1: billion doesn't get touched until the three cents after your

594
00:32:34,480 --> 00:32:38,040
Speaker 1: first billion. As you both know, I'm a massive dorc

595
00:32:38,120 --> 00:32:40,840
Speaker 1: and I read all of these books. I think Biden's

596
00:32:40,880 --> 00:32:45,480
Speaker 1: book is riveting. It's a personal testament of the struggle

597
00:32:45,480 --> 00:32:48,160
Speaker 1: that he's had in his family. But her book is

598
00:32:48,400 --> 00:32:50,360
Speaker 1: is equally as good, and she talks about growing up

599
00:32:50,360 --> 00:32:52,720
Speaker 1: in Oklahoma. I think that's why she's catching on. And

600
00:32:52,800 --> 00:32:55,760
Speaker 1: I I mean, she has that folksiness to her. All right,

601
00:32:55,760 --> 00:32:57,280
Speaker 1: before I let you guys go, because we were talking

602
00:32:57,280 --> 00:33:00,000
Speaker 1: about this in the break, what are you watching on Netflix?

603
00:33:00,320 --> 00:33:05,600
Speaker 1: Ab standard, I'm watching I'm watching The Family and it

604
00:33:05,760 --> 00:33:10,800
Speaker 1: is about Christians working um silently and quietly and somewhat

605
00:33:10,840 --> 00:33:15,120
Speaker 1: secretly to um consolidate influence in Washington and around the

606
00:33:15,160 --> 00:33:18,280
Speaker 1: world with policy makers and leaders, and to try to

607
00:33:18,360 --> 00:33:23,920
Speaker 1: keep their their UM there mission out of the press. Uh.

608
00:33:24,000 --> 00:33:27,000
Speaker 1: And it's fascinating. I cannot wait to literally go home

609
00:33:27,040 --> 00:33:29,200
Speaker 1: tonight and watch this. And Joe probably you're like making

610
00:33:29,240 --> 00:33:31,240
Speaker 1: TV shows. Well, I don't know. If I'm making it.

611
00:33:31,240 --> 00:33:33,160
Speaker 1: But I've heard a room whether there's a TV show

612
00:33:33,200 --> 00:33:36,320
Speaker 1: called sunny Side coming out on NBC as a as

613
00:33:36,360 --> 00:33:38,960
Speaker 1: a neighbor in my old district, and the premise of

614
00:33:38,960 --> 00:33:43,240
Speaker 1: the story apparently is a city councilan unexpectedly loses his

615
00:33:43,440 --> 00:33:46,600
Speaker 1: reelection kind of kind of hits home a little bit.

616
00:33:47,120 --> 00:33:49,719
Speaker 1: We should go well, but I got a cameo if

617
00:33:49,720 --> 00:33:53,040
Speaker 1: anyone from NBC is listening, which is what we're gonna do.

618
00:33:53,040 --> 00:33:54,680
Speaker 1: We're gonna tweet it out, We're gonna bless it out.

619
00:33:54,720 --> 00:33:58,280
Speaker 1: I think that you deserve a cameo in NBC sunny Side.

620
00:33:58,280 --> 00:34:00,720
Speaker 1: You've hard it here first, Joe Crowd, the aby Starter,

621
00:34:00,840 --> 00:34:03,000
Speaker 1: two friends of mine, thank you so much for coming off.

622
00:34:03,000 --> 00:34:06,240
Speaker 1: This was an easy hour. This was just like we

623
00:34:06,280 --> 00:34:08,600
Speaker 1: didn't even get Jennifer Jacobs has a scoop out on

624
00:34:08,600 --> 00:34:13,279
Speaker 1: the Bloomberg terminal that Pompeo is telling donors to hold

625
00:34:13,280 --> 00:34:16,440
Speaker 1: off donating to the Kansas Senate race until he decides

626
00:34:16,520 --> 00:34:19,239
Speaker 1: whether or not to run. We'll dive into that and

627
00:34:19,239 --> 00:34:21,360
Speaker 1: hopefully I can convince jenn to come on the show.

628
00:34:21,400 --> 00:34:23,880
Speaker 1: My my friend Jen Jacobs. Download the Bloomberg sound on

629
00:34:23,920 --> 00:34:26,560
Speaker 1: podcast on Apple it tunes at Bloomberg dot com or

630
00:34:26,560 --> 00:34:30,800
Speaker 1: by downloading the Bloomberg Business App. Downloading the Bloomberg Business App,

631
00:34:31,320 --> 00:34:33,480
Speaker 1: that's a mouthful. You can also find us on Radio

632
00:34:33,560 --> 00:34:36,840
Speaker 1: dot com, I Heart Radio, and Spotify. I'm Kevin Sirelli.

633
00:34:36,880 --> 00:34:37,960
Speaker 1: You're listening to Bloomberg