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Speaker 1: Global business news twenty four hours a day. That's Bloomberg

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Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow.

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Speaker 1: eight percent yield on the two year point seven six percent.

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Speaker 1: dollar ten o four, the n at one twelve. And

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Speaker 1: that's a Bloomberg Business Flash. Tom and Mike, Thank you, Karen.

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Speaker 1: It is selection day again, yet a end. This time

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Speaker 1: it is the Nevada Republican Caucus is underway where they

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Speaker 1: will be when people wake up out there. Good morning,

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Speaker 1: Las Vegas, and good morning to Chuck Todd. He's the

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Speaker 1: host of NBC's Meet the Press. You can hear it's

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Speaker 1: Sunday's here on Bloomberg Radio eleven o'clock and three o'clock. Chuck,

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Speaker 1: did you manage a scamma trip to Vegas for this

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Speaker 1: so you can report on this? Well? I I was

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Speaker 1: in Vegas last week like this. I don't want to

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Speaker 1: people to get their hopes. So this is the Nevada

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Speaker 1: Republican Party last year took three days to count thirty

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Speaker 1: three thousand balance. I'm not I'm that very confident that

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Speaker 1: we're gonna know much tonight. So anybody that thought about

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Speaker 1: staying up to watch coverage tonight. UM, I know my

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Speaker 1: bosses won't like me saying this, but it isn't worth it.

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Speaker 1: Just get up in the morning, UM, turn on Bloomberg

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Speaker 1: Radio and and find out what happened. He's got the

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Speaker 1: shameless plug. Um is this gonna matter in the long run?

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Speaker 1: Given the Davada all better a bit unless unless somehow

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Speaker 1: Trump loses. Is there any chance that The reason I

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Speaker 1: think there's a chance is this is such an arcane

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Speaker 1: nobody knows about it and and ut meaning you know

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Speaker 1: it had a and it's a cultural turnout four years ago.

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Speaker 1: Marco Rubio is the only person that's organized. So you

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Speaker 1: know it's the last test that's all about organization for

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Speaker 1: the popularity. So look, I I know everybody assumes Trump's

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Speaker 1: gonna win, and you know if just the casual, if

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Speaker 1: casual people show up, you will, but you know I wouldn't.

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Speaker 1: I'd be surprised but not shocked if somehow Rubyo want

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Speaker 1: I want to stand the Republicans for a moment and

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Speaker 1: talk about Super Tuesday. The narrative on the Democratic side,

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Speaker 1: as we go into the Super Tuesday Southern states, you

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Speaker 1: bring in the minority voters and that helps Hillary Clinton.

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Speaker 1: We go into Super Tuesday, we bring in the minority

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Speaker 1: voters to the extent they vote in the Republican primaries.

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Speaker 1: How does that affect the Donald and or Marco Rubio

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Speaker 1: ted Cruise. Well, there's not that many minority voters wrote

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Speaker 1: in the Republican primary um outside of Formida, Texas. There

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Speaker 1: is a chunk of the Hispanic vote in both states

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Speaker 1: that will show up in Texas, you know, ten, but

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Speaker 1: not not a significant amount to have to have much

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Speaker 1: of an impact on the Republican side. I mean, it's

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Speaker 1: just it's just the nature of the Republican electorate right now.

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Speaker 1: But going into Super Tuesday, look, I think Super Tuesday

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Speaker 1: is more about trying to figure out if you're Marco Rubio,

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Speaker 1: You're you're you're secretly hoping for Trump to win at

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Speaker 1: least one state, and that state of Texas, because the

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Speaker 1: completed it takes that cruise. The cleanest way for Rubio

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Speaker 1: to game into it one on one is to get

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Speaker 1: Cruise out of this, And the fastest way to to

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Speaker 1: sort of force Cruise out is to embarrass them, is

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Speaker 1: to basically say, hey, you couldn't even win your home state.

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Speaker 1: It's time to right chuck what you do so well

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Speaker 1: as a national Minutia. Mr Kasich enjoying the Sandy Spring

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Speaker 1: City Hall last night in New Gingrich is Georgia. I

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Speaker 1: remember newt four years ago. I guess he took Georgia.

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Speaker 1: Tell me about adjacent c in the Super Tuesday states.

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Speaker 1: We understand Mr Sanders and adjacent cet to New Hampshire.

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Speaker 1: Does Mr Rubio have adjacent CE with Georgia or is

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Speaker 1: he as just foreign there is Mr Trump. Yeah, it's

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Speaker 1: just it's born there. And that part of that is

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Speaker 1: because the look, it only helps if you share media markets. Right,

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Speaker 1: Vermont in New Hampshire actually share media markets. People that

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Speaker 1: live in Vermont watching New Hampshire television vice versa. Um,

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Speaker 1: that that's why you get that neighboring state thing helps.

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Speaker 1: Ditto with Massachusetts, New Hampshire, things like that. That doesn't

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Speaker 1: exist really with Florida and Georgia. I mean outside of Jacksonville.

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Speaker 1: You know that that is a shared media in Gallahatty

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Speaker 1: and once right, it's the largest cocktail party. It's really

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Speaker 1: only about a college football game to anything else. So

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Speaker 1: um no, there, there isn't that sort of uh, that

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Speaker 1: sort of impact actum, particularly Florida, just because Florida has

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Speaker 1: got so many of its home unique media market So

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Speaker 1: that isn't that isn't gonna help him. Look, what Rubio needs, actually,

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Speaker 1: what Rubio needs right now is casic to get out.

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Speaker 1: Arguably a bigger problem for him going into Super Tuesday

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Speaker 1: than Cruise eventually any screws out of the way, but

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Speaker 1: Kasek is in the way right now. Well, one of

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Speaker 1: the problems there is that Casey, while Rubio piles up

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Speaker 1: the political endorsements, Casey's piling up the money and i'nt

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Speaker 1: take a series of head fund helpers over the last

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Speaker 1: couple of days. Well, we'll see if if it's real.

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Speaker 1: I mean, you know, he's had a few people. But

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Speaker 1: how big of the checks are they gonna write? Are

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Speaker 1: they writing five billion dollars checks? Are they writing to

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Speaker 1: everything checks? The big difference, Chuck, What is the distinctive

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Speaker 1: feature of this Super Tuesday? I mean I went back

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Speaker 1: and I skimmed the history of them back to I

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Speaker 1: believe it was sixers when we started this ballet. You

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Speaker 1: were there, I know, covering all forty seven states, whatever

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Speaker 1: it was. But it's Super Tuesday. I get the southern thing.

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Speaker 1: Mass Tuesday's Burnie's going to do. This is the soul

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Speaker 1: What that we're a lot smarter on Super Wednesday the

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Speaker 1: day after? Well, I mean I think that. I mean,

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Speaker 1: if you say, what's the distinguishing characteristic of this one?

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Speaker 1: Is that it's back to be distinct mostly southern, you know,

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Speaker 1: the whole Super Tuesday started as the Southern idea was

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Speaker 1: back when Southern Democrats were looking for a way to

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Speaker 1: stop the rule from getting the Democratic nomination. So back

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Speaker 1: back in the day, that was its original origin. It

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Speaker 1: was about stopping the doing trying to come up with

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Speaker 1: a strategy that to get the Bill Clintons of the world,

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Speaker 1: or at the time, Chuck rob who was a rising

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Speaker 1: star at Virginia at the time, give them an opportunity

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Speaker 1: to time delegates. But it's never The irony is that

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Speaker 1: it never worked out that way. Um when when they

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Speaker 1: did it, and and it's not gonna work out this time.

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Speaker 1: This time. Super Tuesday was an attempt by conservatives as

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Speaker 1: a way to to just submit the conservative alternative, and

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Speaker 1: it was supposed to be Ted Cruzer Day and it's

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Speaker 1: not coming. Mike, I know you want to get the

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Speaker 1: serious politics. But I got a critically important question for

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Speaker 1: Mr Todd. Are you using the word liberal or progressive?

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Speaker 1: Now there's a shift going that's interesting. Look, I I

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Speaker 1: interchange it when I described the left of the party.

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Speaker 1: My feeling is I'm always one of those I call

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Speaker 1: people by what they want to be called by. You know,

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Speaker 1: if people want to be called pro life and the

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Speaker 1: abortion movement and pro choice in the abortion movement. Then

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Speaker 1: calling pro life and pro choice. I know there's this

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Speaker 1: argument internal in them communities old it's anti abortion rights active,

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Speaker 1: it's just pro abortion rights active. You know. Look, if

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Speaker 1: people want to be called progressive instead of liberal, time,

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Speaker 1: if you want to be called conservative instead of moderate time,

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Speaker 1: you know that you call people what they want to

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Speaker 1: be called. And the left of the Democratic Party wants

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Speaker 1: to be called progressive, okay, and some people get mad

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Speaker 1: if you don't call them progressive. Um, let's talk about

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Speaker 1: that side of the party. In the race of the

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Speaker 1: Super Tuesday race, how much Obviously Bertie Sander's gonna have

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Speaker 1: the money to compete, but how much competition is he

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Speaker 1: actually going to? Well, actually, I'm I'm he's he's got

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Speaker 1: less money than I expected. He's been out raising her,

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Speaker 1: but he uh, he spent more than I he we

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Speaker 1: went through more money than he should have been January.

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Speaker 1: He burned through a lot of cash. Um, that's money

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Speaker 1: that right now could be spent making a Virginia or

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Speaker 1: Texas more competitive. And this is the mistake that I

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Speaker 1: think he's made. He's not playing to win on Super Tuesday.

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Speaker 1: He's just playing to accumulate the elegance and that's fine.

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Speaker 1: He's gonna be able to accumulate for the delegates, and

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Speaker 1: that's not a bad that's not a bad showing if

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Speaker 1: you think about what Bernie Sanders was nine months ago.

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Speaker 1: But if you're playing the women nomination, you're gonna have

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Speaker 1: to beat her in a place like Texas or Virginia

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Speaker 1: or Tennessee or Georgia, the four biggest states before you know.

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Speaker 1: And I would argue that Tennessee, Virginia, Texas, look, none

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Speaker 1: of them demographically are ideal for Sanders, but those three

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Speaker 1: have African American electors that are under so it's it's

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Speaker 1: something that he should be making a more of an

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Speaker 1: effort to do, and he's not. Yeah, I've heard the

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Speaker 1: Sanders campaign say, well, Michigan is where we can really

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Speaker 1: do well a week later, because by then that's thirteenth stakes,

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Speaker 1: and and under the rules of the Democratic Party, especially

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Speaker 1: with the superdelegates already in Hillary's camp, then it becomes

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Speaker 1: impossible math almost well, forget, let's just let's set the

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Speaker 1: superdelegates aside. She's going to build a lead without superdelegates,

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Speaker 1: and then the superdelegates to the E and that that that's,

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Speaker 1: of course the only way really did to use the superdelegates.

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Speaker 1: You can't super delegates, sirt aren't gonna stick with you

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Speaker 1: if you're not winning. But uh, she's she's gonna build

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Speaker 1: a small but durable lead within the next ten days.

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Speaker 1: And and he won't deal with catcher Chuck hudd, Thank

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Speaker 1: you very much. We'll check next Uh, it will be

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Speaker 1: super Tuesday. Um, that's gonna be fascinating. It's gonna be

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Speaker 1: a very interesting day because it could go a very

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Speaker 1: long way to determine this whole race plays out. Mike,

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Speaker 1: what do we make of the Japanese yen one eleven nine? Um, yeah, well,

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Speaker 1: it's a gamy monetary policy. I thought it was. I

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Speaker 1: don't want to make of it. I thought it was

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Speaker 1: interesting earlier today when you were talking about the possibility

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Speaker 1: of parody and the yeah, that that it would be

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Speaker 1: certainly the worst nightmare forbeamics. But we heard from Kuroda,

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Speaker 1: the Central Bank govern corotas on over the overnight suggesting

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Speaker 1: that maybe monetary policy can't do it all, or at

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Speaker 1: least que can't do it all, and they may go

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Speaker 1: even more negative use interest rates to try to get

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Speaker 1: some movement there. Drop the of the end. There's some

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Speaker 1: really interesting nuances out there. Now. I don't want to

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Speaker 1: get hysterical this morning, because it's not that look. But nevertheless,

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Speaker 1: there's subtleties on the Bloomberg screen. Futures negative free down,

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Speaker 1: futures negative twelve boy a churn and flatten out all

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Speaker 1: over the place this morning. Thirty three twenty five an

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Speaker 1: American West Texas intermediate Michael McKeon Tom Kane bonus, another

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Speaker 1: hour of Bloomberg's surveillance