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Speaker 1: Now from our nation's capital. This is Bloomberg's sound on

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Speaker 1: Democrats will have a majority in the Senate and I

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Speaker 1: will once again be majority leader. The victory is for

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Speaker 1: Nevada and all of us, all the hard work that

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Speaker 1: we put into it. We have still a slim path

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Speaker 1: to keeping the House. He's gonna show Nancy Pelosi the

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Speaker 1: door very short. Bloomberg's sound on politics, policy and perspective

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Speaker 1: from DC's top names. We were candid and clear with

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Speaker 1: one another across the board. We need to charge the

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Speaker 1: right course for the China U S relationship. Bloomberg Sound

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Speaker 1: On with Joe Matthew on Bloomberg Radio. Democrats keep the

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Speaker 1: Senates and still no call on the House. Welcome to

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Speaker 1: the fastest hour in politics, as we dissect the deciding

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Speaker 1: Senate race with the Dean of Nevada Politics, John Ralston

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Speaker 1: of the Nevada Independent, keeping an eye on votes still

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Speaker 1: being counted out West and laid or. The meeting of

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Speaker 1: the minds today in Bali will be joined by Kurt Tong,

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Speaker 1: former U S Ambassador for Asia Pacific Economic Cooperation. On

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Speaker 1: what President's Biden and she accomplished today, If anything, we

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Speaker 1: cover it all with our signature panel Bloomberg Politics contributors

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Speaker 1: Rick Davis and Gen Chanzano where this for the hour.

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Speaker 1: Still no call on which party controls the U. S.

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Speaker 1: House on this Monday, but Republicans are awfully closed six

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Speaker 1: seats away from the two eight team needed to control

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Speaker 1: the Chamber, and Congresswoman for Millagaya Paul, the Democrat from California,

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Speaker 1: chairs the progressive caucus in the House, says Democrats still

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Speaker 1: have a path. We have still a slim path to

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Speaker 1: keeping the House. I recognize as slim, but it's still possible.

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Speaker 1: There is no question that this will be the most

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Speaker 1: progressive Democratic caucus in decades. So you're saying there's a chance.

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Speaker 1: We'll talk a little bit later more specifically about this.

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Speaker 1: Democrats would have to run the table, which again could

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Speaker 1: happen with a lot of votes left account in California especially,

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Speaker 1: We could be talking about this still this time next week. Yeah.

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Speaker 1: It was one week ago tonight, no tomorrow, that Kevin

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Speaker 1: McCarthy declared victory and we're still actually not there yet.

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Speaker 1: Different story, of course, in the Senate was big news

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Speaker 1: over the weekend. First they got Arizona Mark Kelly the

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Speaker 1: race call the Senator will keep his job. It can

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Speaker 1: be tempting to remain focused on the things that divide us,

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Speaker 1: but we've seen the consequences that calm when leaders refused

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Speaker 1: to accept the truth and focus more on conspiracies of

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Speaker 1: the past than solving the challenges that we face today.

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Speaker 1: Beats Republican Blake Masters, who I believe has no plans

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Speaker 1: to concede, at least not yet. While in Nevada, the

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Speaker 1: senator said to be the most vulnerable Democrat in the country,

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Speaker 1: Catherine Cortez Masto, gets it done. This election. Nevaden's rejected

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Speaker 1: the far right politicians working to divide us, eating Adam

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Speaker 1: laxalt who again pretty sure has not conceded. Let's bring it,

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Speaker 1: John roused to the CEO of the Nevada Independent. John's

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Speaker 1: a journalist and an executive at the Nevada Independent, also

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Speaker 1: the dean of Nevada Political Journalists and back with us.

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Speaker 1: He was here last week and we promised we get

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Speaker 1: back together to read through some of the the leaves here. John,

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Speaker 1: welcome back to Bloomberg. Nice So as Adam Laxalts called

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Speaker 1: you to concede, yet he has not called me, nor

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Speaker 1: is he called Catherine Cordez mask don nor has he

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Speaker 1: put out any public statements, and it's about I don't know,

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Speaker 1: it's all the time runs together for me, Joe, but

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Speaker 1: I think it's about a one and a half days

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Speaker 1: since the race was called, suggesting he may never concede.

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Speaker 1: I'm not sure about that. I think he wants to

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Speaker 1: do something else. My guest, because it's ally potentially has

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Speaker 1: done is run for office, and so my guest as

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Speaker 1: he wants to run for something, So I doubt will

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Speaker 1: keep this up that long. Well, as you look back

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Speaker 1: here on the last couple of days in some of

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Speaker 1: the analysis that we've heard, nobody's deeper into these uh,

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Speaker 1: these districts than you are. When you when you look

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Speaker 1: at the people who actually voted, and why did this

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Speaker 1: have more to do with you know, quote unquote saving

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Speaker 1: democracy as the president likes to say, or was this

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Speaker 1: actually about policy? Were people talking about the accomplishments of democrats?

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Speaker 1: Or or was it neither of those? Well, when races

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Speaker 1: are relatively close, and the major ones in Nevada were closed,

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Speaker 1: it's hard to single out one factor, and you can

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Speaker 1: try to parse it with exit polling or friends, but

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Speaker 1: the bottom line is is that in the US Senate race,

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Speaker 1: which is very close. Catherine cortest Master did point out

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Speaker 1: that anim lacks all this an election deny in some

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Speaker 1: of the down ballot races that were also very close

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Speaker 1: for constitutional offices. Uh, the Democrats did point out that

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Speaker 1: there were elections den i ares running against them. Um,

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Speaker 1: you know the governor's race here, which is the only

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Speaker 1: really feather on the Republican Party's camp this time. Uh,

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Speaker 1: it was more a case of a governor hobbled by

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Speaker 1: COVID and and and uh hangover as I call it,

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Speaker 1: with the economy that really cost him that race. I

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Speaker 1: think there were some other factors too, But I just

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Speaker 1: think that you know, when people like me try to

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Speaker 1: pick apart these races, that it's just very difficult to

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Speaker 1: tell that there's only a few thousand votes. So ticket

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Speaker 1: splitting them was a big part of the story. In Nevada.

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Speaker 1: I think ticket splutters were a big part of the story.

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Speaker 1: I thought there would be, uh Cortes Masso Lombardo, Joe Lombardo,

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Speaker 1: Republican candidate for governor. Voters that seems to have been

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Speaker 1: born out. We're doing on a at the Nevada Independent.

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Speaker 1: We're doing a story about that. We're interviewing people who

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Speaker 1: split their tickets, and I it was a real phenomenon

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Speaker 1: near the top of the ticket. And I think I

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Speaker 1: don't know if you heard from Chuck Schumer over the weekend,

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Speaker 1: but he spoke shortly after the Arizona and Nevada races

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Speaker 1: were called. He said there were three reasons why Democrats

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Speaker 1: maintained their majority in the Senate. Here he is one,

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Speaker 1: our terrific candidates. Two A the our agenda and our accomplishments.

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Speaker 1: And three the American people rejected the anti democratic extremist

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Speaker 1: MAGA Republicans. Do you buy Chuck Schumer's version of this election?

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Speaker 1: John Well? The first thing he said was certainly true

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Speaker 1: in Nevada. And it's really one of those old political

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Speaker 1: cliches that people say, and it's not always true, but

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Speaker 1: it is in this case. Candidates matter, Campaigns matter. Catherine

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Speaker 1: Cortez Masco's campaign was far superior to Adam Laxas, and

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Speaker 1: it needed to be in a year in which the

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Speaker 1: Democrats we're facing really really tough headwinds. She did everything

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Speaker 1: that she needed to do to make sure that she

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Speaker 1: kid get over the top. She barely did it. What's

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Speaker 1: the status of the Republican Party in Nevada coming out

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Speaker 1: of this election? The Republican Party in Nevada has been uh,

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Speaker 1: somewhat of a joke for probably a decade and a half,

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Speaker 1: and that the only reason that that Republicans win in

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Speaker 1: this state is if they have a great campaign team

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Speaker 1: and they run a near flawless campaign because the Democrats

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Speaker 1: have so many institutional and infrastructure advantages. So you know,

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Speaker 1: when you see people going to Republican Party going out

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Speaker 1: there and bragging about winning races for lieutenant governor and controller,

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Speaker 1: which are two of the most useless state offices, you

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Speaker 1: know that they're they're in a bad shape. Yeah. I

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Speaker 1: didn't think we'd be talking about the controller position in

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Speaker 1: this interview. Maybe we'll bring him back and do that.

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Speaker 1: John Ralston, thank you, CEO of the Nevada Independent. Getting

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Speaker 1: things started in our Monday edition. Here looking back on

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Speaker 1: Nevada and Arizona, we assemble our panel. Jeanie Schanz know

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Speaker 1: when Rick Davis are both back with us Bloomberg Politics

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Speaker 1: contributors having survived election week, although I guess election week

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Speaker 1: never actually ended. Genie, Uh, what's the takeaway from states

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Speaker 1: like Nevada, where we were told candidates like Katherine Cortez

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Speaker 1: Masta were about to be fired because they were vulnerable,

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Speaker 1: their stories were not resonating, and the president was dragging

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Speaker 1: them down. Well, well, what it suggests, and and again

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Speaker 1: the the win is by about six thousand, so extremely close,

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Speaker 1: and it's notable that he has not conceded yet. But um,

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Speaker 1: what it suggests is that candidates matter, the issue of

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Speaker 1: denialism matters. Democracy was on the ballot, and that extremism

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Speaker 1: was able to overcome the negatives for Democrats on the

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Speaker 1: economy and inflation, which was very, very real. And so

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Speaker 1: it ended up not being necessarily a referendum on Biden

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Speaker 1: as much as a referendum on the Republican Party, the

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Speaker 1: Trump wing of the party, and that didn't vote so

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Speaker 1: well for Republicans, although again very very narrowly in the

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Speaker 1: state like Nevada. All the while, Joe Lombardo wins the

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Speaker 1: race for governor. Here, the Democrat Steve Ceciliac, who got

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Speaker 1: the same rally from Barack Obama that that Cortez Masto got,

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Speaker 1: lost the race. How do we rationalize that? Yeah, I'm

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Speaker 1: not so sure. It's a a referendum on the Republican

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Speaker 1: Party a little bit more of a referendum on Donald Trump.

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Speaker 1: You know where he left his mark? Uh, it was

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Speaker 1: usually something negative for the candidate, and so I think

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Speaker 1: that helps explain some of what was going on with

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Speaker 1: voters when they they And I think that it's pretty

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Speaker 1: easy to assume that if you were an election denier,

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Speaker 1: you were an election denier because of your fealty to

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Speaker 1: Trump and so being uh, you know, maga supermga mega,

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Speaker 1: maga whatever it is is it was was a real

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Speaker 1: hang up on this election, and that would explain why

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Speaker 1: in some cases candidates ran away from that and did

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Speaker 1: frankly pretty well. And then those that said, no, no,

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Speaker 1: I'm election denier and I believe everything Donald Trump tells me.

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Speaker 1: H um, you know, fair very poorly. It seems like

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Speaker 1: the postmortem goes easier for Republicans than it does for Democrats, Genie,

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Speaker 1: isn't it. It's difficult for Democrats to really delineate. You know,

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Speaker 1: Joe Biden will tell you, oh my gosh, you know,

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Speaker 1: we got the we got the the the infrastructure deal,

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Speaker 1: we got the Inflation Reduction Act, we got the burn pits,

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Speaker 1: we got gun control, I'm not sure people were talking

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Speaker 1: about or even aware of a lot of those accomplishments.

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Speaker 1: If you see them as such, Republicans in many cases

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Speaker 1: thought they were policies that moved us in the wrong direction.

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Speaker 1: What can Joe Biden actually take credit for, Well, he

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Speaker 1: can take credit for getting out there and talking about abortion,

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Speaker 1: talking about extremism, talking about Mega maga as Rick was

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Speaker 1: just talking about. Um, those issues, those are the ones

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Speaker 1: that resonated with voters, because you're right, when it comes

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Speaker 1: to some of the issues foreign policy, crime, inflation, immigration,

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Speaker 1: the border, by and large, voters feel that they can

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Speaker 1: trust Republicans more than that. And that's what I mean

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Speaker 1: when I say it really ended up being a referendum

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Speaker 1: on the Republican Party that Donald Trump runs, and that's

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Speaker 1: how many people saw many of these candidates. But again,

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Speaker 1: I think we need to stress a very very narrow

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Speaker 1: victory in some of these states, and they're still counting

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Speaker 1: nineteen House races at this moment, that's right, and and

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Speaker 1: we're going to get to the House in a moment here, Rick,

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Speaker 1: do you remember when the President went to Philadelphia delivered

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Speaker 1: that speech in front of Independence Hall bathed in blood,

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Speaker 1: red lighting It was heavy duty rhetoric, and he was

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Speaker 1: panned for it as being decisive. Was that, in fact

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Speaker 1: the right speech to give at that moment? Yeah, I

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Speaker 1: mean probably not. Um. I think it's you know, the

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Speaker 1: reaction was so negative at the time, you wonder, you know,

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Speaker 1: did it turn people off? Um? You know, but this

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Speaker 1: has been a study drumbeat since the convention, you know,

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Speaker 1: two years ago the nominated you know, President Biden. This

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Speaker 1: was going to be a theme that the Democrats pushed,

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Speaker 1: regardless of how much traction it could get. Maybe it

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Speaker 1: did pay off Rick and Jeni or whether us For

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Speaker 1: the hour, We're gonna turn to Arizona next. It's a

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Speaker 1: whole different deck of carves there, and carry Lake is

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Speaker 1: hanging on as we also keep an eye on what's

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Speaker 1: happening in the house. When will we get a call?

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Speaker 1: I'm Joe Matthew. This is Bloomberg. You're listening to Bloomberg.

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Speaker 1: You sound on with Joe Matthew on Bloomberg Radio. They

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Speaker 1: still have not called the governor's race in Arizona. To

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Speaker 1: be clear, the Senate race did go to Mark Kelly,

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Speaker 1: the Democrat, but we're still waiting for a call in

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Speaker 1: the race between Carry Lake, the Republican, the Donald Trump

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Speaker 1: endorsed election denier, and Katie Hobbs, the Democrat who's in

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Speaker 1: fact currently the Secretary of State. Just looking at the

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Speaker 1: numbers of your Hobbs is still ahead by one percentage point.

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Speaker 1: Although carry Lake did a little bit of narrowing earlier.

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Speaker 1: We expect another dump tonight here. Carry Lake, though doesn't

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Speaker 1: appear prepared to concede this race should she lose it,

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Speaker 1: having accused Maricopa County election workers of slow rolling the

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Speaker 1: count She says it should be election day and on

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Speaker 1: election week. Here we are a week later, and uh boy,

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Speaker 1: just not making a lot of friends with establishment Republicans.

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Speaker 1: While she's added, of course, remembering, this is the former

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Speaker 1: television news anchor in Phoenix in Arizona calling out what

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Speaker 1: the grandfather, the godfather of politics in Arizona this was,

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Speaker 1: I don't even know what this event was, but with

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Speaker 1: supporters and tweeted out an edited version tweeted out by

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Speaker 1: a guy named Tony Connie who was a deputy campaign

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Speaker 1: director in Arizona for Joe Biden. So this came from

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Speaker 1: a Democrat, but remarkable language. Nonetheless, we don't have any

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Speaker 1: McCaine Republicans in here, do we all right? Didn't you

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Speaker 1: want to hit the hell out? It was the party

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Speaker 1: of McCaine and it was it was bad boy. Arizona

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Speaker 1: has delivered some losers, haven't they, and then goes on

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Speaker 1: to point out Wendy Rogers, a white nationalist who she

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Speaker 1: calls a hero, uh standing in the crowd. Rick Davis,

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Speaker 1: of course knows a thing or two about Arizona politics.

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Speaker 1: He's part of our signature panel with Jeanie Schanzano. What's

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Speaker 1: the purpose of insulting John McCain here, Rick, When, oh

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Speaker 1: my gosh, I didn't think you could be a Republican

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Speaker 1: in Arizona without embracing John McCain. Well, there's certainly at

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Speaker 1: least twenty five thousand Republicans in Arizona that identify as

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Speaker 1: McCain Republicans, and that's what she needed to be able

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Speaker 1: to win this election. It looks like so, uh look,

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Speaker 1: I mean, you know, she she was an outsider. She

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Speaker 1: did not want to uh embrace a movement that's won

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Speaker 1: every election that John McCain never entered, four re elections

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Speaker 1: of the Senate, to presidential primaries, and a congressional election

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Speaker 1: so you know his track records, I think pretty clear.

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Speaker 1: I think his last reelection in sixteen he won by

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Speaker 1: fourteen points. That's just a little more than votes. Um

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Speaker 1: the bear of the party. You know. I scratch my head.

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Speaker 1: I have the same question. Why in the world would

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Speaker 1: anyone run for office and say they don't want your vote?

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Speaker 1: I mean, it's just like defies logic. She said, get

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Speaker 1: the hell out. I mean if anyone raised their hand

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Speaker 1: at that point, But that is a different campaign strategy

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Speaker 1: for sure. Actually, I'd love to meet the person who

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Speaker 1: to raise her hand, because that's the bravest person in

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Speaker 1: the state of Arizona. No doubt, I'll see myself out.

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Speaker 1: I don't know, Jeannie, look this, there could be a call,

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Speaker 1: I guess imminently. Here. Are we gonna just delve into

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Speaker 1: an endless legal battle no matter what happens. No, I

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Speaker 1: think she'll just accept defeat gracefully. Why not? No, I

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Speaker 1: think she's going to continue to fight. I mean, this

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Speaker 1: is her brand. If she had nothing to fight against,

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Speaker 1: what would she be out there saying? Because what she's

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Speaker 1: not doing is she's not telling people what she's going

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Speaker 1: to do as governor. She's not asking for their vote.

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Speaker 1: She's just shaming people who she feels don't support her.

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Speaker 1: And you know, it really gets down to and so

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Speaker 1: many of these races that Republicans have eaten, this case,

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Speaker 1: you know, looks like maybe narrowly lost. It looks like

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Speaker 1: Katie has liked votes ahead of her. It's the choice

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Speaker 1: of these primary candidates, many of them chosen by Donald Trump.

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Speaker 1: And that's what the Republican Party has to contend with.

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Speaker 1: How do you stop Donald Trump from choosing people who

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Speaker 1: are just you know, going to have fealty to him

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Speaker 1: as opposed to being people who can actually win these elections.

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Speaker 1: And that's the challenge they faced. Whether it's you know, Michigan,

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Speaker 1: whether it's Pennsylvania, whether it's Arizona. You go right down

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Speaker 1: the list, New Hampshire. So that's what the Republican Party

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Speaker 1: has to contend with as they go forward into Then

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Speaker 1: of course there's Georgia. We're still waiting for Georgia. That's

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Speaker 1: the Senate race, and there's a runoff coming on the

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Speaker 1: sixth of December. You do wonder how invested people like

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Speaker 1: Donald Trump might be having endorsed herschel Walker. If you

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Speaker 1: vote less, I'm gonna vote with me again. But have

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Speaker 1: the people that didn't vote for me need to vote

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Speaker 1: for me because they didn't vote with me, they're gonna

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Speaker 1: have the government running their life. Rick does does Donald

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Speaker 1: Trump go to Georgia as the as the presidential candidate

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Speaker 1: just to wait in there and make headlines in Georgia? Well,

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Speaker 1: he's done it before. Uh and um, uh, you gotta

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Speaker 1: assume he's gonna do it again. He's looking for relevance

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Speaker 1: in his own party. Uh, there's no question herschel Walker

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Speaker 1: is his candidate, lock Stock and barrel. And so I

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Speaker 1: can't imagine him not insisting. Um, which means he just

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Speaker 1: flies in there and does it himself. Uh, some presence

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Speaker 1: between now and December six, which is the which is

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Speaker 1: the runoff. So uh, it's it's it's I don't know

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Speaker 1: a single Republican on the national level who thinks that's

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Speaker 1: a good idea. But since when did that bother Donald Trump? Right? Uh?

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Speaker 1: Raphael Warnock, the Democratic Senator of the Incombing Genie, still

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Speaker 1: can't believe this is happen. He's not able to do

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Speaker 1: this work. He's damaged that he has neither the competence

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Speaker 1: nor the character. He doesn't understand the issues. And what's

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Speaker 1: further is he's demonstrated a lack of interest, yet they're

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Speaker 1: too close to call Genie. Does it matter what Raphael

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Speaker 1: Warnock says over the next three weeks. What's gonna matter

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Speaker 1: is can he get his voters out to the polls again?

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Speaker 1: Can he pull over some of those vot voters who

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Speaker 1: supported the Libertarian And you know what is really fascinating,

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Speaker 1: as you had Mitch McConnell calling on Brian Kemp to

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Speaker 1: get him to help with getting Herschel Walker quote unquote

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Speaker 1: over the line this time. And so Brian Kemp is

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Speaker 1: doing that. He is giving support to Walker, which he

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Speaker 1: did not do before. So this is going to be

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Speaker 1: a real battle to the end, even though control doesn't

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Speaker 1: depend on it any longer. That's gonna make Trump want

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Speaker 1: to go just for that reason alone, not letting Briant

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Speaker 1: Kemp take credit for this if it happens. Rick and

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Speaker 1: Jeanie will be here for the hour. We have a

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Speaker 1: lot more to talk about with our signature panel as

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Speaker 1: we turn our attention to geo politics. Next President's Biden

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Speaker 1: and She together today in Bali. This is Bloomberg. So

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Speaker 1: they met for three hours it actually seemed pleased to

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Speaker 1: see each other when President's Biden and she first met

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Speaker 1: front of the camera's a little handshake and some small

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Speaker 1: talk and then business. We were candid and clear with

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Speaker 1: one another across the board. And I do not think

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Speaker 1: there's any imminent attempt on the part of China to

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Speaker 1: invade Taiwan. I made it clear that we want to

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Speaker 1: see cross trade issues peacefully resolved and uh and so

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Speaker 1: it never has to come to that. From the news

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Speaker 1: conference in Bali that you saw and heard live on Bloomberg,

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Speaker 1: President Biden feeling pretty good about things coming off the

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Speaker 1: election and now telling our partners in the jeetswey that

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Speaker 1: America is back at the table, and he says they

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Speaker 1: were honest with each other. We were very blund with

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Speaker 1: one another about places where we disagreed or where we

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Speaker 1: were uncertain of each other's position, and we agreed we'd

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Speaker 1: set up and we did mechanisms whereby we would meet

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Speaker 1: in detail with our key people in each of our

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Speaker 1: administrations to discuss how we could resolve them. Sounds like

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Speaker 1: some progress, but what does this lead to. I want

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Speaker 1: to talk to Kurt Tong about all of the managing

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Speaker 1: partner at the Asia Group. Former US Consul General in

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Speaker 1: Hong Kong and Macau, former US Ambassador for Asia Pacific

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Speaker 1: Economic Cooperation Ambassador, welcome back to Bloomberg. Thank you very much. So,

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Speaker 1: no imminent invasion of Taiwan, an agreement that nuclear weapons

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Speaker 1: should not be used in Ukraine, and what I am

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Speaker 1: interpreting is a general sense of interest in avoiding a

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Speaker 1: cold war or worse between the United States and China.

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Speaker 1: Both presidents seem interested in moving beyond this current standoff.

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Speaker 1: Did you read it that way? Have the US and

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Speaker 1: China seen the worst of their relationship? Well, I think

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Speaker 1: in the short term at least they they succeeded in

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Speaker 1: their shared mission the two leaders of to use a phrase,

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Speaker 1: putting a floor under the relationship and limiting the short

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Speaker 1: term downside risk that that constant friction over a range

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Speaker 1: of issues, most importantly Taiwan, could lead to a cycle

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Speaker 1: of deterioration that would lead to outright conflict. So so

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Speaker 1: that that is a mission accomplished by the two of them.

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Speaker 1: So they succeeded in lowering the temperature. If nothing else, well,

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Speaker 1: they lowered the temperature. I think they also succeeded in

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Speaker 1: reaching some shared understandings which existed previously but were reaffirmed

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Speaker 1: on important topics, most importantly Taiwan, where the United States

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Speaker 1: repeated the full mantra of its policy and China did

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Speaker 1: the same. And that eases the fact that there are

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Speaker 1: in fact red lines intersecting over the Taiwan issue, but

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Speaker 1: there is there are diplomatic positions that each side takes

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Speaker 1: that uses the pressure. There there was a sense that

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Speaker 1: Beijing was accelerating its schedule in reincorporating Taiwan. Do you

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Speaker 1: take President she at his worth, um well, taking him

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Speaker 1: at his word or not? What what I think? The

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Speaker 1: analysis that China had a specific timetable or that timetable

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Speaker 1: was accelerating is in fact not correct analysis. I think

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Speaker 1: China was becoming increasingly concerned that Taiwan was slipping through

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Speaker 1: its fingers and that Taiwan might at some point declare

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Speaker 1: de facto or de jura independence, thereby forcing from the

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Speaker 1: Chinese perspective, forcing them to act, which is something that

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Speaker 1: I don't feel like China is prepared to do. The best.

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Speaker 1: Military analysts really questioned the reliability with which China might

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Speaker 1: think that it could take Taiwan back um without great

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Speaker 1: risk of failure, and that I think is really there's

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Speaker 1: there's a lot more caution on all sides than than

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Speaker 1: some of the the media reporting has indicated. We know

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Speaker 1: that China cut off many routine contacts with the US

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Speaker 1: after Speaker Nancy Felosi went to Taiwan, and those contacts

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Speaker 1: are being re engaged now. For starters, were we in

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Speaker 1: worse shape than you thought at the time, And what

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Speaker 1: happens if these delegations continue to visit Taiwan as have

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Speaker 1: been promised. I think it depends on the nature of

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Speaker 1: the delegation and the degree of the of the steps

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Speaker 1: being taken by Taiwan. Importantly, Taiwan has elections coming up,

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Speaker 1: headed towards the presidential election in about one year, and

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Speaker 1: so all of these things are potential destabilizers. Potent congressional action,

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Speaker 1: the changes Taiwan's status under US law well now perhaps

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Speaker 1: less likely given the results of the mid term are

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Speaker 1: also a destabilizer. But the stabilizer is fundamentally the shared

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Speaker 1: interests of both nations in avoiding an outright conflict, which

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Speaker 1: could be a disaster for all concerns. Vladimir Putin is

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Speaker 1: watching this, of course, what will this meeting with Joe

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Speaker 1: Biden do to the She Putin relationship, Well, one could

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Speaker 1: hope that it would chastise Putin and make him realize

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Speaker 1: that that that from China's perspective, it's relationship with the

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Speaker 1: United States is vitally important, even as China values the

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Speaker 1: relationship with Russia. That's what one could hope for. I'm

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Speaker 1: not optimistic actually, given Vladimir Putin's mindset. Ambassador Kurt Tong,

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Speaker 1: we thank you for the time once again on Bloomberg.

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Speaker 1: Look forward to doing it again. Thank you. Take care.

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Speaker 1: I want to assemble the panel for a quick take

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Speaker 1: on this. Rick Davis and Jeanie Schanzano are here. Uh,

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Speaker 1: this seems to be another win in kind of a

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Speaker 1: string for Joe Biden. Is he's riding the momentum in

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Speaker 1: the G twenty Rick, what's the takeaway for him? Yeah,

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Speaker 1: just think about this. I mean, we're at the Olympics

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Speaker 1: and there's this, you know, significant deal cut between Putin

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Speaker 1: and g to be sort of the access of evil

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Speaker 1: against the rest of the world. We're gonna drive you

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Speaker 1: all out of business, and and and just a few

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Speaker 1: short months, i mean almost one year later. Um, you've

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Speaker 1: got a situation at the G twenty where Putin doesn't

428
00:25:35,760 --> 00:25:38,320
Speaker 1: even show up because he's so embarrassed and can't face

429
00:25:38,359 --> 00:25:40,520
Speaker 1: the rest of the world. And she's sitting down for

430
00:25:40,600 --> 00:25:42,680
Speaker 1: three hours with the President of States and actually saying

431
00:25:42,760 --> 00:25:45,880
Speaker 1: nice things. I mean like that is an extraordinary movement

432
00:25:45,880 --> 00:25:49,200
Speaker 1: of world affairs in one short year. So I can

433
00:25:49,240 --> 00:25:51,359
Speaker 1: just say, you know, let's hope it stays on this track,

434
00:25:51,440 --> 00:25:54,440
Speaker 1: because avoiding conflict is the number one issue. That's right.

435
00:25:54,480 --> 00:25:57,600
Speaker 1: Did Joe Biden buy some time on Taiwan Jini? He

436
00:25:57,720 --> 00:26:00,639
Speaker 1: absolutely did, And this is a right key point in

437
00:26:00,640 --> 00:26:03,720
Speaker 1: our US China relations. And he seems to have crossed

438
00:26:03,720 --> 00:26:06,119
Speaker 1: that mountain, across that bridge. And good for Joe Biden,

439
00:26:07,440 --> 00:26:10,639
Speaker 1: Ricky Genie, stay with us our signature panel. Next, Mike

440
00:26:10,760 --> 00:26:14,240
Speaker 1: Pence breaks his silence. If I can call it that

441
00:26:14,320 --> 00:26:19,640
Speaker 1: on Donald Trump, this is Bloomberg. You're listening to Bloomberg.

442
00:26:19,680 --> 00:26:25,560
Speaker 1: You sound on with Joe Matthew on Bloomberg Radio. The

443
00:26:25,680 --> 00:26:31,160
Speaker 1: two headlines in the competing newspapers tell the whole story.

444
00:26:31,320 --> 00:26:36,560
Speaker 1: New York Times Pence says Trump was reckless in assailing him.

445
00:26:36,720 --> 00:26:42,960
Speaker 1: On January six, Washington Post Pence is slowly arriving critique

446
00:26:43,000 --> 00:26:46,240
Speaker 1: of Trump is his party's entire problem. He went for

447
00:26:46,320 --> 00:26:48,920
Speaker 1: it today, Mike Pence. A lot of people are saying,

448
00:26:48,960 --> 00:26:51,040
Speaker 1: where have you been. Well, it turns out he's selling

449
00:26:51,040 --> 00:26:55,159
Speaker 1: a book and sitting for an exclusive interview here with

450
00:26:55,320 --> 00:27:01,960
Speaker 1: ABC News. I gotta a little peek behind the curtain

451
00:27:02,000 --> 00:27:03,919
Speaker 1: on this kind of thing. They actually have rules for

452
00:27:04,000 --> 00:27:06,040
Speaker 1: using this because it airs later tonight, I guess, and

453
00:27:07,840 --> 00:27:09,679
Speaker 1: I have to follow the rules if I want to

454
00:27:09,760 --> 00:27:11,879
Speaker 1: use any of it, even though there's this thing called

455
00:27:11,920 --> 00:27:14,960
Speaker 1: fair use out there. But there are nine rules, as

456
00:27:14,960 --> 00:27:19,320
Speaker 1: I read for people playing portions of the interview from

457
00:27:19,359 --> 00:27:22,040
Speaker 1: ABC News. Hang on, let's get to Mike Pence here.

458
00:27:22,080 --> 00:27:24,359
Speaker 1: You know, I guess the one that applies to me

459
00:27:24,480 --> 00:27:27,960
Speaker 1: here the excerpt must be introduced in an exclusive interview

460
00:27:27,960 --> 00:27:31,840
Speaker 1: with World News tonight anchor David Muir. So I got

461
00:27:31,880 --> 00:27:35,200
Speaker 1: that all right, so we can play it now. He's

462
00:27:35,200 --> 00:27:38,760
Speaker 1: asked about the tweet. David Muir asking Mike Pence about

463
00:27:38,760 --> 00:27:41,399
Speaker 1: the tweet as he's hiding in the bowels of the

464
00:27:41,480 --> 00:27:49,280
Speaker 1: Capitol when the President sent the salvo here that Mike

465
00:27:49,359 --> 00:27:53,840
Speaker 1: Pence did not do what he should have done to

466
00:27:53,960 --> 00:28:00,080
Speaker 1: protect him in codifying the election. This was clearly you know,

467
00:28:00,160 --> 00:28:02,000
Speaker 1: this is the big question. He knew was coming here.

468
00:28:03,880 --> 00:28:07,359
Speaker 1: Maybe it was rehearsed, maybe not, but things got really

469
00:28:07,680 --> 00:28:11,240
Speaker 1: spent a lot of time thinking about it and gave

470
00:28:11,280 --> 00:28:18,520
Speaker 1: his answer that anngered me. But I turned to my

471
00:28:18,600 --> 00:28:21,960
Speaker 1: daughter who was standing nearby, and I said, it doesn't

472
00:28:21,960 --> 00:28:25,320
Speaker 1: take courage to break the law. Takes courage to uphold

473
00:28:25,359 --> 00:28:30,400
Speaker 1: the law. I mean, the present's words were reckless. It's

474
00:28:30,400 --> 00:28:33,119
Speaker 1: clear he decided to be part of the problem. Mhm.

475
00:28:34,800 --> 00:28:38,560
Speaker 1: He's done a lot of interviews, the fireside chats, speeches,

476
00:28:40,600 --> 00:28:43,760
Speaker 1: but this was really the the most he has said

477
00:28:43,800 --> 00:28:46,320
Speaker 1: about this. Remember the tweet, Mike pat This is the

478
00:28:46,320 --> 00:28:53,680
Speaker 1: Trump tweet that day, January six, uh pm, at the

479
00:28:53,720 --> 00:28:55,480
Speaker 1: worst of the siege. Mike Pence did not have the

480
00:28:55,520 --> 00:29:01,600
Speaker 1: courage to do what should have been done. Let's reassemble

481
00:29:01,640 --> 00:29:03,240
Speaker 1: the panel here, Rick and Janie are with us. Like,

482
00:29:03,800 --> 00:29:05,959
Speaker 1: what's the name of a book? I've had it in

483
00:29:05,960 --> 00:29:11,360
Speaker 1: front of me. Something very predictable, actually, uh, Rick Davis.

484
00:29:12,200 --> 00:29:14,640
Speaker 1: Should Mike Pence have said this a year or you

485
00:29:14,640 --> 00:29:20,160
Speaker 1: willgo So help me God is the name of the book.

486
00:29:20,200 --> 00:29:23,200
Speaker 1: Thank you, and and so help me God. He should

487
00:29:23,200 --> 00:29:25,880
Speaker 1: have said this when it was happening. I mean, the

488
00:29:25,920 --> 00:29:28,440
Speaker 1: man went on, I mean, the President United States was

489
00:29:28,440 --> 00:29:33,040
Speaker 1: was under a uh an impeachment order by the House

490
00:29:33,080 --> 00:29:36,959
Speaker 1: of Representatives, and this guy stayed silent. I mean, he

491
00:29:37,000 --> 00:29:40,080
Speaker 1: says to his interviewer, it takes courage to obey the law.

492
00:29:40,160 --> 00:29:43,160
Speaker 1: We're all supposed to obey the law. What courage is that?

493
00:29:44,120 --> 00:29:46,600
Speaker 1: I mean, I can't figure this one out. I mean,

494
00:29:46,640 --> 00:29:48,720
Speaker 1: I like Mike Pence. I think he's a good guy,

495
00:29:48,840 --> 00:29:52,480
Speaker 1: but like, silence is consent. Do you ever hear that?

496
00:29:53,000 --> 00:29:56,120
Speaker 1: I mean, and he stayed silent for four years and

497
00:29:56,160 --> 00:29:58,800
Speaker 1: in two weeks and that was two weeks too long.

498
00:29:59,360 --> 00:30:03,400
Speaker 1: And I'm any six. Uh you know what, I like

499
00:30:03,520 --> 00:30:08,320
Speaker 1: to collect books of former UH candidates for office who

500
00:30:08,360 --> 00:30:13,400
Speaker 1: will never go any further. Oh boy, okay, wow, Rick Davis,

501
00:30:13,560 --> 00:30:17,160
Speaker 1: what are you feeling that same way about this genie? Well,

502
00:30:18,120 --> 00:30:22,080
Speaker 1: you know, reckless is quite an understatement. And what are

503
00:30:22,080 --> 00:30:24,880
Speaker 1: we engaged in? Mike Pence is one of the first

504
00:30:24,920 --> 00:30:27,840
Speaker 1: ones out the box in the Invisible Primary, and part

505
00:30:27,840 --> 00:30:30,320
Speaker 1: of the Invisible Primary for twenty four is to put

506
00:30:30,320 --> 00:30:33,400
Speaker 1: out the obligatory book. He has done that. He's getting

507
00:30:33,400 --> 00:30:36,400
Speaker 1: a lot of these interviews um, as you noted this

508
00:30:36,440 --> 00:30:41,000
Speaker 1: one from ABC as you rightly introduced. Um and you know,

509
00:30:41,200 --> 00:30:44,240
Speaker 1: so this is what this is and what didn't Mike

510
00:30:44,280 --> 00:30:46,719
Speaker 1: Pence do? To Rick's point, you know, he waited this

511
00:30:46,880 --> 00:30:50,360
Speaker 1: long to say anything. He also didn't testify before the

512
00:30:50,440 --> 00:30:54,440
Speaker 1: January sixth Committee, the body of Congress designed to get

513
00:30:54,480 --> 00:30:58,720
Speaker 1: for the American public a fair rendition and a fair

514
00:30:58,800 --> 00:31:02,240
Speaker 1: you know, historical and repretation of exactly what happened. Maybe

515
00:31:02,320 --> 00:31:05,160
Speaker 1: he sent them the book. Yeah, I'm sure he will

516
00:31:05,240 --> 00:31:07,280
Speaker 1: do that. Maybe he'll force them to buy it. But

517
00:31:08,200 --> 00:31:10,880
Speaker 1: this says, you know, it's it's a little too late.

518
00:31:11,440 --> 00:31:13,840
Speaker 1: Except this is a political move on his part and

519
00:31:13,880 --> 00:31:16,080
Speaker 1: he's out there doing it. Pretty amazing that this would

520
00:31:16,080 --> 00:31:21,280
Speaker 1: come on the eve of Donald Trump announcing his presidential campaign.

521
00:31:21,320 --> 00:31:23,720
Speaker 1: As do we all still think this is on He's

522
00:31:23,760 --> 00:31:26,800
Speaker 1: not He's not gonna waiver now, is he? Rick? Yeah?

523
00:31:26,840 --> 00:31:29,680
Speaker 1: I would doubt if you'd waiver. Um, he's too embarrassed.

524
00:31:30,040 --> 00:31:32,160
Speaker 1: Now take a step back. You know, this is the

525
00:31:32,200 --> 00:31:34,960
Speaker 1: problem when you get way out in front on something

526
00:31:35,000 --> 00:31:37,480
Speaker 1: because you think, opportunistically, now is the time to get

527
00:31:37,520 --> 00:31:39,600
Speaker 1: all the attention and I'm gonna need right before an

528
00:31:39,600 --> 00:31:43,600
Speaker 1: election and then realize that didn't turn out quite the

529
00:31:43,600 --> 00:31:45,959
Speaker 1: way I had hoped it had. And so rather than

530
00:31:46,000 --> 00:31:49,360
Speaker 1: taking a victory lap and announcing my own campaign, Um,

531
00:31:49,400 --> 00:31:51,200
Speaker 1: you know, he's gonna have a lot of explaining to do.

532
00:31:51,280 --> 00:31:55,400
Speaker 1: And of course none of this will include talking to reporters. So, um,

533
00:31:55,400 --> 00:31:58,320
Speaker 1: he'll have his moment, he'll go off the rails. He'll

534
00:31:58,360 --> 00:32:00,640
Speaker 1: say things that people scratch her and wonder, how do

535
00:32:00,640 --> 00:32:03,600
Speaker 1: you get elected president saying that? And of course he

536
00:32:03,760 --> 00:32:07,520
Speaker 1: did get elected president saying those. He won't be daunted

537
00:32:07,560 --> 00:32:10,080
Speaker 1: at all hearing from. And of course these are familiar

538
00:32:10,160 --> 00:32:13,080
Speaker 1: voices on well somewhat certainly Larry Hogan, the the the

539
00:32:13,120 --> 00:32:16,640
Speaker 1: outgoing Republican governor of Maryland who apparently has his own

540
00:32:16,680 --> 00:32:20,280
Speaker 1: designs on higher office. Uh. He let him have it

541
00:32:20,360 --> 00:32:22,960
Speaker 1: on CNN on State of the Union on Sunday morning.

542
00:32:23,000 --> 00:32:25,720
Speaker 1: His take on the Trump effect. Definition of insanity is

543
00:32:25,760 --> 00:32:27,680
Speaker 1: doing the same thing over and over again expecting a

544
00:32:27,680 --> 00:32:31,479
Speaker 1: different result. And Donald Trump, he kept saying, and we're

545
00:32:31,480 --> 00:32:33,320
Speaker 1: gonna be winning so much, we'll get tired of winning.

546
00:32:33,600 --> 00:32:35,520
Speaker 1: I'm tired of losing. I mean that's all he's done.

547
00:32:35,560 --> 00:32:38,800
Speaker 1: Tired of losing. Chris Sinnu, the Governor of New Hampshire

548
00:32:39,360 --> 00:32:41,880
Speaker 1: uh in his diagnosis of what happened in the election

549
00:32:41,920 --> 00:32:44,200
Speaker 1: with Republican but I think people said was, look, we

550
00:32:44,240 --> 00:32:47,080
Speaker 1: can work on these policies later, but as Americans, we

551
00:32:47,120 --> 00:32:50,240
Speaker 1: gotta fix extremism right now. Ultimately, I think the Democrats

552
00:32:50,280 --> 00:32:52,840
Speaker 1: did a very good job of of defining a lot

553
00:32:52,880 --> 00:32:54,760
Speaker 1: of these candidates before they even had a chance to

554
00:32:54,800 --> 00:32:57,400
Speaker 1: introduce themselves. And when asked on ABC, he said he

555
00:32:57,400 --> 00:33:01,840
Speaker 1: would not support Donald Trump in four Are these the

556
00:33:01,840 --> 00:33:05,000
Speaker 1: comments you would expect to hear from these names? Rick?

557
00:33:05,200 --> 00:33:08,400
Speaker 1: Or is there really something happening in in in a

558
00:33:08,520 --> 00:33:11,520
Speaker 1: large portion of the Republican Party distancing itself from Trump?

559
00:33:11,920 --> 00:33:14,080
Speaker 1: You know, It's just it's amazing to me that here

560
00:33:14,120 --> 00:33:16,680
Speaker 1: we are two years later after a mid term election

561
00:33:16,760 --> 00:33:20,840
Speaker 1: that arguably did not meet Republican expectations, and we're still

562
00:33:20,840 --> 00:33:23,240
Speaker 1: talking about Donald Trump. I mean, you know, and and

563
00:33:23,280 --> 00:33:25,760
Speaker 1: it's kind of like what Governor Hogan said, how many

564
00:33:25,800 --> 00:33:29,800
Speaker 1: elections in two thousand eighteen, two thousand two, one, two

565
00:33:29,800 --> 00:33:33,920
Speaker 1: thousand twenty two do we have to continuously lose and

566
00:33:34,040 --> 00:33:37,040
Speaker 1: still talk about Donald Trump? Um? I just think he

567
00:33:37,080 --> 00:33:40,200
Speaker 1: gets a bye with the party and party leadership, like

568
00:33:40,280 --> 00:33:44,960
Speaker 1: nobody I've ever seen in modern presidential history still not

569
00:33:45,080 --> 00:33:49,000
Speaker 1: on Twitter unless something just happened, Jeannie. He's sticking with truth,

570
00:33:49,200 --> 00:33:54,080
Speaker 1: he says truth social but we're watching Elon Musk of course,

571
00:33:54,120 --> 00:33:57,560
Speaker 1: refer people to the Republican Party here having bought Twitter,

572
00:33:57,600 --> 00:33:59,360
Speaker 1: and a lot of people are thinking that might happen.

573
00:33:59,400 --> 00:34:02,600
Speaker 1: But Ellen is I guess having a hard time as well.

574
00:34:02,640 --> 00:34:06,200
Speaker 1: He's fired close to three thousand, seven hundred people since

575
00:34:06,200 --> 00:34:10,719
Speaker 1: he bought Twitter. He's been threatening bankruptcy, and it sounds like,

576
00:34:11,520 --> 00:34:13,759
Speaker 1: you know, he's going to be in for it for

577
00:34:13,840 --> 00:34:17,840
Speaker 1: some time here. He spoke, uh in one of these

578
00:34:18,040 --> 00:34:21,759
Speaker 1: virtual um summit deals where his face is up on

579
00:34:21,800 --> 00:34:23,640
Speaker 1: the big screen. You know, he's talking on zoom. He's

580
00:34:23,640 --> 00:34:27,640
Speaker 1: at home, and he's he's starting to feel the workload.

581
00:34:27,800 --> 00:34:29,560
Speaker 1: I have too much work on my plate, that is

582
00:34:29,600 --> 00:34:32,840
Speaker 1: for sure. I'm really working at the absolute most amount

583
00:34:32,840 --> 00:34:35,680
Speaker 1: that I can work from morning ful ninth, seven days

584
00:34:35,680 --> 00:34:45,480
Speaker 1: a week. Um, So, is there's not something I'd recommend? Frankly? Um? Yeah,

585
00:34:45,800 --> 00:34:50,520
Speaker 1: Genie is he Okay? It was fascinating his face was glowing.

586
00:34:50,600 --> 00:34:53,520
Speaker 1: It looked like I guess black background. Yeah, like like

587
00:34:53,560 --> 00:34:56,680
Speaker 1: there was candlelight he's you know, apparently over working. Not

588
00:34:56,760 --> 00:34:59,120
Speaker 1: only fired those thousands of people, he tried to hire

589
00:34:59,200 --> 00:35:02,680
Speaker 1: some of them back there lunches for gosh sakes. You know,

590
00:35:03,000 --> 00:35:07,320
Speaker 1: it's it's hard to be him. He's wishing like yeah, yeah,

591
00:35:07,360 --> 00:35:10,000
Speaker 1: so you know, I'm not sure he's all right, but

592
00:35:10,000 --> 00:35:12,600
Speaker 1: but he's hanging in and um, you know, he still

593
00:35:12,640 --> 00:35:15,680
Speaker 1: had quite an audience there for this speech, even though

594
00:35:15,719 --> 00:35:18,560
Speaker 1: he wasn't there in person. But you know, he probably

595
00:35:18,640 --> 00:35:20,799
Speaker 1: is wishing that he could sell his sandals for two

596
00:35:21,840 --> 00:35:27,000
Speaker 1: dollars like they got Steep Jobs for maybe someday, but

597
00:35:27,080 --> 00:35:29,400
Speaker 1: the sandals come with an n f T, which you know,

598
00:35:29,440 --> 00:35:32,200
Speaker 1: I'm sure Steve Jobs himself would have laughed at. Uh.

599
00:35:32,200 --> 00:35:34,520
Speaker 1: It's a great story, by the way, you know, considering

600
00:35:34,560 --> 00:35:38,400
Speaker 1: this idea of Elon firing and then rehiring or unfiring

601
00:35:38,520 --> 00:35:42,799
Speaker 1: people somehow the worst ways to fire your staff. I

602
00:35:42,800 --> 00:35:45,000
Speaker 1: don't know if you guys have ever been fired from

603
00:35:45,000 --> 00:35:48,560
Speaker 1: a job, but this list is incredible. Uh. And of

604
00:35:48,600 --> 00:35:51,520
Speaker 1: course there's it's just impossible to beat this guy who

605
00:35:51,600 --> 00:35:55,680
Speaker 1: ran the company Better do remember this Vishal garg was

606
00:35:55,760 --> 00:35:58,479
Speaker 1: his name, the CEO of Better. This is the guy

607
00:35:58,520 --> 00:36:03,319
Speaker 1: who fired like nine read people on Zoom one day.

608
00:36:03,360 --> 00:36:05,480
Speaker 1: This was this is the second time in my career

609
00:36:05,520 --> 00:36:08,359
Speaker 1: I'm doing this and I do not do not want

610
00:36:08,400 --> 00:36:10,560
Speaker 1: to do this. The last time I did it, I

611
00:36:10,600 --> 00:36:15,920
Speaker 1: cried hope to be stronger by a worker. But we

612
00:36:16,000 --> 00:36:27,680
Speaker 1: are laying off about of the company efficiency and performances.

613
00:36:28,600 --> 00:36:33,640
Speaker 1: If you're on this call, you are part of the

614
00:36:33,719 --> 00:36:38,960
Speaker 1: unlucky group being laid off. Your employment here is terminated,

615
00:36:39,760 --> 00:36:42,440
Speaker 1: effective immediately. That was last year, in the throes of

616
00:36:42,840 --> 00:36:45,319
Speaker 1: the pandemic. There were four rounds of layoffs, as it

617
00:36:45,320 --> 00:36:48,040
Speaker 1: turned out. Real popular guy, he's back. By the way,

618
00:36:48,320 --> 00:36:51,640
Speaker 1: Rick Davis, you work in the business world. You've you've

619
00:36:51,680 --> 00:36:56,080
Speaker 1: moved from politics mostly into business. Is there actually a

620
00:36:56,080 --> 00:36:59,600
Speaker 1: wrong way to fire someone? Yeah? I mean look, I

621
00:36:59,600 --> 00:37:02,480
Speaker 1: mean these companies are part of the community that these

622
00:37:02,520 --> 00:37:05,640
Speaker 1: people live in the community. Uh. For every time you

623
00:37:05,719 --> 00:37:10,239
Speaker 1: have to fire people and maybe downsize, Uh, maybe you

624
00:37:10,280 --> 00:37:12,200
Speaker 1: hope to be able to build that back up and

625
00:37:12,239 --> 00:37:14,200
Speaker 1: you don't want to lose that connection with the community.

626
00:37:14,280 --> 00:37:18,400
Speaker 1: So she Zoom is out. Unless there's a global pandemic.

627
00:37:18,600 --> 00:37:22,120
Speaker 1: Voicemail anybody can you fire by voicemail? Not voicemail and

628
00:37:22,160 --> 00:37:27,680
Speaker 1: not text either. Oh, we'll somehow wake up together again.

629
00:37:27,719 --> 00:37:30,040
Speaker 1: Tomorrow I'll meet you back here. I'm Joe Matthew. This

630
00:37:30,320 --> 00:37:30,920
Speaker 1: is Bloomberg