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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Amy

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Speaker 1: Morris and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Karen, we begin this morning with the passing of a

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Speaker 2: former US president. Jimmy Carter, the thirty ninth President of

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Speaker 2: the United States, died at his home in Georgia Sunday

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Speaker 2: at the age of one hundred, the longest living president

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Speaker 2: in US history. Carter's accomplishments during his one term in

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Speaker 2: the nation's highest office included brokering and historic peace accord

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Speaker 2: between Israel and Egypt. He faced several domestic and foreign

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Speaker 2: challenges throughout his presidency, but he refined the post presidency

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Speaker 2: for US leaders. Bloomberg's John Tucker takes a look back

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Speaker 2: at Jimmy Carter's political career and legacy.

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Speaker 3: Jimmy Carter served as state senator and governor of Georgia

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Speaker 3: before becoming the thirty ninth President of the United States.

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Speaker 4: I Jimmy Carter do selling this sware that I will

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Speaker 4: faithfully acute Bravo.

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Speaker 3: Carter's tenure in the Oval office was tumultuous, marked by inflation,

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Speaker 3: a recession, and an energy crisis.

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Speaker 5: Our dependence on four and all will be stopped Dead.

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Speaker 6: In its tract right Now.

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Speaker 3: Carter encouraged energy conservation by all US citizens and created

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Speaker 3: the Department of Energy. His final year in office was

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Speaker 3: marred by the Iran hostage crisis, which contributed to his

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Speaker 3: loss to Ronald Reagan in nineteen eighty. After politics, Carter

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Speaker 3: committed much of his time to peacekeeping and humanitarian efforts

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Speaker 3: like Habitat for Humanity.

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Speaker 7: Join us with Habitat for Humanity as we rebuilt Holmes

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Speaker 7: and Live.

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Speaker 3: Jimmy Carter was the longest retired president and the first

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Speaker 3: to live past the age of ninety five. John Tucker

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Speaker 3: Bloomberg Radio.

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Speaker 1: All right, John, thank you well. After leaving office, Jimmy

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Speaker 1: Carter founded the Carter Center and was awarded the Nobel

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Speaker 1: Peace Prize in two thousand and two for his decades

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Speaker 1: long efforts to promote peace, democracy, and human rights.

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Speaker 6: President Biden paid tribute.

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Speaker 7: He worked to eradicate disease, not nicess at home, but

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Speaker 7: around the world. He forge peace, advanced civil rights, human rights,

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Speaker 7: promoter free and fair elections around the world. He built

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Speaker 7: housing and homeless for the hopeless without hands, and his

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Speaker 7: compassion and moral clerk to clarity lifts the people up

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Speaker 7: and changed lives and saved lives.

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Speaker 8: All over the globe.

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Speaker 1: President Biden also recalled his long friendship with Carter.

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Speaker 7: I've been hanging out with Jimmy Carter for over fifty

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Speaker 7: years at Dawn Dummy, and I had countless conversation over

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Speaker 7: those years. Well, I find extraordinary about Jimmy Carter. Goof,

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Speaker 7: there's millions of people all around the world, all over

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Speaker 7: the world feel they lost a friend as well.

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Speaker 1: President Biden says he'll order a state funeral for Carter

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Speaker 1: in Washington and designated January ninth as a National Day

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Speaker 1: of mourning. The US stock market traditionally closes on the

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Speaker 1: day of presidential funerals, and no announcement has been made

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Speaker 1: as of yet by Exchange overseers.

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Speaker 2: President elect Donald Trump also paid to Carter on social media.

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Speaker 2: While Trump often spoke negatively about Carter's presidency during the campaign,

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Speaker 2: he wrote on Truth Social yesterday that Carter quote did

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Speaker 2: everything in his power to improve the lives of all Americans.

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Speaker 2: For that we all owe him a gret of gratitude.

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Speaker 1: Well, Amy, We'll have more on the passing of Jimmy

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Speaker 1: Carter throughout the program but we continue now with other

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Speaker 1: headlines this morning. Elsewhere in politics, and Republican hardliners have

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Speaker 1: not committed to re electing GOP leader Mike Johnson his

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Speaker 1: House speaker after he backed a temporary spending deal that

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Speaker 1: did not include President elect Trump's initial demand for lifting

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Speaker 1: the US debt ceiling, but others are pushing back. New

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Speaker 1: York Republican Congressman Mike Lawler says the infighting is a

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Speaker 1: waste of time.

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Speaker 9: Matt Gates and several of my colleagues teamed up with

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Speaker 9: two hundred and eight Democrats to remove Kevin McCarthy, which

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Speaker 9: will go down as the single stupidest thing I've ever

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Speaker 9: seen in politics. With that said, removing Mike Johnson would

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Speaker 9: equally be as stupid looking Congress and Mike Lawler told

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Speaker 9: ABC's This Week the party is playing with fire if

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Speaker 9: it removes Johnson as speaker in January.

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Speaker 1: Johnson can only afford to lose one vote among his

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Speaker 1: slim Republican majority when the House votes on its new leader.

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Speaker 1: If removed, a battle to replace Johnson could delay other

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Speaker 1: aspects of Congress, including certifying Trump's election win. How speakership

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Speaker 1: vote is scheduled for January third.

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Speaker 2: And Karen We also saw political infighting this weekend on

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Speaker 2: social media over immigration. An online debate ensued over the

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Speaker 2: H one B visa program, which allows companies to hire

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Speaker 2: foreign workers in specialty occupations. Trump's appointment of Saram Krishnan

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Speaker 2: as senior policy advisor sparked some pushback from far right

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Speaker 2: activist Laura Lumer and former Trump advisor Steve Bannon, and

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Speaker 2: in the past, Chrishnan has supported an extension of visas

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Speaker 2: and green cards for skilled workers. Trump advisor Elon Musk

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Speaker 2: wade in, however, saying he supports the H one B

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Speaker 2: visa program for highly skilled workers and criticized those in

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Speaker 2: Trump's base of support who don't back it.

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Speaker 6: Trump seemed to take.

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Speaker 2: Musk's side, telling the New York Post quote, it's a

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Speaker 2: great program and has always been in favor of the visus.

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Speaker 1: Hey while oversees amy Elon Musk making waves as he

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Speaker 1: weighs into international politics. The world's richest man doubled down

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Speaker 1: on his support for the far right Alternative for Germany

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Speaker 1: Party two months ahead of the country's elections. Musk wrote

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Speaker 1: the AfD party was the last spark of hope for Germany.

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Speaker 1: In an opinion piece in a German newspaper. Three stage

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Speaker 1: chapters of the AfD are classified as extremists and are

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Speaker 1: under surveillance by Germany's domestic intelligence service.

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Speaker 2: Staying overseas, we're also following the deadly plane crash in

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Speaker 2: South Korea. One hundred and seventy nine people were killed

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Speaker 2: when a Boeing seven thirty seven crash landed at one

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Speaker 2: international airport Sunday morning. Investigators in South Korea are probing

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Speaker 2: the cause of the country's worst ever ever civil aviation accident.

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Speaker 2: Bloomberg Asia aviation reporter Danny Lee says the pilot issued

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Speaker 2: a may day minutes after the controls hour warned of

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Speaker 2: a bird strike.

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Speaker 10: So the bird strike warning was given to pilots by

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Speaker 10: the airport staff and airtraft control in the minutes before

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Speaker 10: the landing, and this is a critical phase of flight

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Speaker 10: for pilots to obviously navigate safely in land. And after

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Speaker 10: this bird strike warning there was a made a call

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Speaker 10: from the pilots they had suffered a bird strike, and

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Speaker 10: then subsequently, minutes later the crash happened.

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Speaker 2: Bloomberg's Danny Lie says investigators will focus on an unusual

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Speaker 2: landing gear failure in the final moments of the flight.

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Speaker 2: A second aircraft from the same airline suffered a similar

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Speaker 2: fault this morning above Seoul before returning safely to the airport.

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Speaker 6: Well lamy a South Korea.

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Speaker 1: Morenst devastating plane crash, the country continues to experience political

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Speaker 1: turmoil and a restaurarrant being soft for South Korea's president.

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Speaker 1: Yunsak Yule, the MPH leader had repeatedly defined court summons

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Speaker 1: to a peer for questioning over his decision to declare

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Speaker 1: martial law and vow to keep defending himself.

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Speaker 6: And finally, a look at markets.

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Speaker 2: As Wall Street enters the holiday short and final trading

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Speaker 2: week of twenty twenty four, investors have seen a pullback

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Speaker 2: recently in the Magnificent seven tech stocks that have powered

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Speaker 2: two years of gains. Despite uncertainty about the FED and

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Speaker 2: economic policies in a second Trump administration, Lall Street strategists

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Speaker 2: are expression cautious optimism on US doocs heading into the

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Speaker 2: new year. Thomas Martin, senior portfolio manager with Global Tea Investments,

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Speaker 2: believes equities could continue to push higher.

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Speaker 11: The underlying fundamentals in the economy, the expected earnings growth

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Speaker 11: of companies and the expected growth rate of GDP and

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Speaker 11: potential for positive things that can happen really are forcing

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Speaker 11: strategists and people to be positive on the next year.

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Speaker 11: So you know, a ten percent rate of return in

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Speaker 11: the S and P five hundred is sort of the

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Speaker 11: long term average over the last three decades, and that's

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Speaker 11: sort of the centralcy that I'm seeing in the strategists

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Speaker 11: that I see surveyed. So it's quite possible we could

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Speaker 11: have up year.

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Speaker 2: Thomas Martin with Globald Investments believes the outcome range for

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Speaker 2: the S and P in twenty twenty five is likely

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Speaker 2: wider than investors are anticipating.

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Speaker 1: But it's time now for a look at some of

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Speaker 1: the other stories making news in New York and around

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Speaker 1: the world, and for that we're joined by Bloombergy's Michael Barr.

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Speaker 5: Michael, good morning, Good morning Karen, And as we've been reporting,

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Speaker 5: tributes continue to Poorian after the death of former President

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Speaker 5: Jimmy Carter, known as a champion of human rights. Former

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Speaker 5: New York Governor David Patterson is remembering Carter most.

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Speaker 12: Of all, he was able to mix his commitment spiritually

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Speaker 12: to his professionalism as an elected official, and very few

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Speaker 12: people that have ever held office in this country have

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Speaker 12: done that.

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Speaker 5: Former President Jimmy Carter, also the winner of the Nobel

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Speaker 5: Peace Prize night Sunday at the age of one hundred.

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Speaker 5: A strong storm system is threatening to whip up tornadoes

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Speaker 5: in parts of the US southeast, a day after severe

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Speaker 5: weather claimed at least two lives and injured six others

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Speaker 5: as twisters touched down in Texas and Mississippi. Strong storms

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Speaker 5: moving eastward are expected to continue producing gusty, damaging winds, hail,

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Speaker 5: and tornadoes. Terry hackel is with a Texas based rescue

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Speaker 5: group called On Point Rescue, who deployed volunteers to help

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Speaker 5: with the cleanup effort in the Montgomery County community of

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Speaker 5: Porter Heights.

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Speaker 13: This is bad, but people will recover. This community is tight,

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Speaker 13: so we're seeing that a lot. These are mostly people

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Speaker 13: that are out. They're not getting paid to be here.

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Speaker 13: This is volunteers that our entire team is volunteers.

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Speaker 5: Terry Hackele with On Point Rescue says many of those

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Speaker 5: affected don't have home insurance. Tony Award winning stage actress

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Speaker 5: Linda Levin became a working class icon as a waitress

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Speaker 5: on the TV sitcom Alice Has Died. Levin was already

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Speaker 5: a success on broad Way when she was chosen to start,

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Speaker 5: and at the time a new CBS sitcom in nineteen

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Speaker 5: seventy six based on the Oscar winning film Alice Doesn't

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Speaker 5: Live Here Anymore. Lavin's representative says she died Sunday of

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Speaker 5: complications from lung cancer at age eighty seven. Final preparations

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Speaker 5: underway in Times Squares New Year's celebration. The Crossroad of

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Speaker 5: the World is set to welcome millions as the ball

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Speaker 5: drops from the top of the one Time Square tower

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Speaker 5: to ring in twenty twenty five. Yesterday, workers at the

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Speaker 5: site rehearsed the confetti toss. New Year's Eve Executive producer

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Speaker 5: Jeffrey Strauss says cruise will be on rooftops around Time

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Speaker 5: Square to toss confetti by hand.

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Speaker 12: As the ball descends and innumerals light up twenty twenty five,

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Speaker 12: There's going to be a blizzard of colorful confetti.

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Speaker 5: New Year's Eve Executive producer Jeffrey Strauss says about three

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Speaker 5: thousand pounds of confetti will be released Global news twenty

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Speaker 5: four hours a day and whenever you want it. With

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Speaker 5: the Bloomberg news Now. I'm Michael Barr, and this is Bloomberg.

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Speaker 1: All right, Michael Barr, thank you time now for the

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Speaker 1: Bloombergy Sports update. Brown to you by Try State Outie.

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Speaker 1: Here's Dan Schwartzman, Dan, good morning.

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Speaker 6: Good morning Karen.

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Speaker 14: The Giants snapped their franchise record ten game losing streak.

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Speaker 15: The second half kickoff is take it out by Smith

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Speaker 15: bar Set, still going, Lemir Smith bar Set, the Jersey

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Speaker 15: native takes it all the way for a Giants.

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Speaker 14: Touchdown that's courtesy of Fox Sports. With a forty five

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Speaker 14: to thirty three winner of the Colts, the Giants avoid

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Speaker 14: becoming the first team to go win nine at.

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Speaker 6: Home in a season.

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Speaker 14: Drew Lock throwse for three hundred and nine yards and

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Speaker 14: four touchdowns with the win. Though the Giants lose their

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Speaker 14: grip on the first overall pick of the upcoming NFL Draft.

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Speaker 6: They now hold the fourth selection.

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Speaker 14: Jets get dominated in Buffalo forty to fourteen by the Bills,

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Speaker 14: Aaron Rodgers getting benched after throwing two interceptions.

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Speaker 6: Jets fought a four and twelve.

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Speaker 14: The Bills clinched his second seed in the AFC behind

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Speaker 14: the Chiefs. Elsewhere, Eagles dominate the Cowboys forty one to seven,

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Speaker 14: Saquon Barkley becoming just the ninth running back in history

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Speaker 14: to surpass two thousand yards rushing in a season. Barkley

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Speaker 14: is going to need one hundred and one yards next

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Speaker 14: Sunday versus the Rams to break Eric Dickerson's forty year

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Speaker 14: old rushing record of two one hundred and five yards

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Speaker 14: in a season. With the win, Eagles clinching the NFC

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Speaker 14: East Commanders improved eleven and five and overtime thirty to

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Speaker 14: twenty four win over the Falcons to clinch a playoff berth. Meanwhile,

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Speaker 14: the Vikings win their ninth game in a row. They

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Speaker 14: knock off the Packers twenty seven to twenty five. If

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Speaker 14: the Lines win tonight over the forty nine Ers, Vikings

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Speaker 14: and Lines will be playing next weekend in Detroit for

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Speaker 14: both the NFC North Crown as well as the top

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Speaker 14: seed in the NFC playoffs. Looking at the NBA, the

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Speaker 14: Celtics lose for the third time in four games. They

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Speaker 14: fall to the Pacers in Boston one twenty three to

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Speaker 14: one fourteen, while the Magic slip past the Nets one

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Speaker 14: oh two to one oh one.

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Speaker 6: That's your Bloomberg Sports update. I'm Dan Schwartzman.

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Speaker 8: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 8: and around the world on Bloomberg dot Com and the

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Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: Five fourteen on Wall Street, and we're looking back this

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Speaker 2: morning at the life and legacy of former President Jimmy Carter.

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Speaker 2: We're joined now by Terry Haynes, the founder of Pangaea Policy.

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Speaker 6: Terry, good morning to you.

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Speaker 2: Jimmy Carter was a one term president, but it was

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Speaker 2: his post White House work that really seemed to define him.

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Speaker 4: Good morning, Amy, And you know, just so Carter, and

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Speaker 4: ironically Richard Nixon, who his own difficulties did so much

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Speaker 4: to bring Carter into the White House, ultimately really defined

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Speaker 4: the post presidency in a lot of different ways. A

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Speaker 4: lot of what a lot of what's been said about

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Speaker 4: Carter post presidency accurately about peace and advice and all

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Speaker 4: the kind of back scenes work was also engaged in

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Speaker 4: by Nixon to some extent, and they really changed the

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Speaker 4: way that presidents dealt with their post presidency. So all

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Speaker 4: credit to him for that. Two quick points on Carter

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Speaker 4: beyond that one for markets, because I always start there.

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Speaker 4: Carter really broke the back of inflation in the late

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Speaker 4: nineteen seventies and early nineteen eighties. Those with longer memories

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Speaker 4: will always say, well, Paul Vulker did this, Paul Vulker

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Speaker 4: did that. It was Carter that put Paul Vulker in there,

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Speaker 4: and it was Carter that told Vulker that he would

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Speaker 4: back Vulker's own views about this to the hilt and

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Speaker 4: deal with the political fallout. And ultimately Vulker got the

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Speaker 4: kudos and Carter got the short end of the stick.

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Speaker 4: But Carter should be remembered for that. Finally, Carter is

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Speaker 4: really the last Democratic president to challenge Democratic articles of

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Speaker 4: faith that more government and more money are always the

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Speaker 4: solution to problems, and he fell out with his own

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Speaker 4: Congress over that, and that contributed to his one term status.

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Speaker 2: Briefly, you also mentioned some of the ways he carried

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Speaker 2: through how Nixon performed in his post presidency. But Carter

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Speaker 2: also continued efforts that started during the Nixon administration to

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Speaker 2: normalize relations with China.

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Speaker 11: Oh.

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Speaker 4: Absolutely, And you know, I don't mean to engage or

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Speaker 4: suggest what about ism here. I just think it's the

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Speaker 4: parallel tracks are very very interesting Nixon. Nixon, of course

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Speaker 4: started the China Thought policy, and Carter really moved into

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Speaker 4: that and continued it with a vengeance. And from the

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Speaker 4: perspective of almost fifty years that was somewhat controversial to

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Speaker 4: continue that way, but he did it, and his created

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Speaker 4: I think unwittingly today, but I wouldn't fault him for this.

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Speaker 4: Back then created the Taiwan's Strategic Ambiguity policy that is

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Speaker 4: now so much front and center in China Taiwan relations.

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Speaker 2: Now we only have about thirty seconds here. What is

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Speaker 2: the main thing that stands out to you about former

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Speaker 2: President Jimmy Carter.

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Speaker 4: Well, look, this is a very good and decent man. Firstly,

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Speaker 4: and not as an aside, it is he is a

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Speaker 4: remarkable man in many reasons. You know, this is a

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Speaker 4: person who wanted to live a useful life and did

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Speaker 4: beyond that. His very maverick status within the Democratic Party

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Speaker 4: I think really helped doom him do a one term status.

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Speaker 6: I'm Karen Moscow and I'm Amy Morris.

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