1 00:00:00,600 --> 00:00:03,480 Speaker 1: Why from our nations came this budget thing is going 2 00:00:03,520 --> 00:00:06,600 Speaker 1: to do nothing spaceports. I still think it's interesting President 3 00:00:06,640 --> 00:00:10,520 Speaker 1: Trump not playing his cards yet. Headlines Policy and Politics 4 00:00:10,600 --> 00:00:16,240 Speaker 1: colliding to Bloomberg Sound On, The Insiders, the Influencers, the insides. 5 00:00:16,400 --> 00:00:18,799 Speaker 1: I would rather see a congressional solution. It's part of 6 00:00:18,800 --> 00:00:22,160 Speaker 1: my DNA. The Senate map in looks a lot different 7 00:00:22,200 --> 00:00:25,160 Speaker 1: than it looked in. You really have a divide within 8 00:00:25,440 --> 00:00:28,160 Speaker 1: Team Trump. The President has to do exactly what people 9 00:00:28,160 --> 00:00:29,960 Speaker 1: sent him here to do, which is to get it done. 10 00:00:30,320 --> 00:00:34,880 Speaker 1: This is Bloomberg Sound On with Heaven Shirley on Bloomberg 11 00:00:36,120 --> 00:00:40,760 Speaker 1: and World five two. Buckle up. It's been a wild Monday. 12 00:00:40,960 --> 00:00:44,720 Speaker 1: US stocks plunge the most in twenty nineteen on trade 13 00:00:45,000 --> 00:00:48,400 Speaker 1: and Tom Keane Bloomberg's Tom King will give us the 14 00:00:48,479 --> 00:00:52,080 Speaker 1: latest on the market Mayhem. Plus President Donald Trump proposing 15 00:00:52,400 --> 00:00:57,200 Speaker 1: new gun control restrictions, but can he build a bipartisan coalition? 16 00:00:57,480 --> 00:01:01,120 Speaker 1: Housing Secretary Ben Carson calls in to give us an 17 00:01:01,160 --> 00:01:04,440 Speaker 1: inside look at how the administration is looking to tackle 18 00:01:04,959 --> 00:01:08,120 Speaker 1: this problem. Plus two political all stars here with me 19 00:01:08,240 --> 00:01:12,119 Speaker 1: for the hour. Terry Sullivan, a partner at Firehouse Strategies, 20 00:01:12,160 --> 00:01:17,720 Speaker 1: The former Marco Rubio presidential campaign manager and Roger Fisk, 21 00:01:17,920 --> 00:01:22,000 Speaker 1: a Democratic strategist and former Senior eight communication and policy 22 00:01:22,280 --> 00:01:25,560 Speaker 1: to Senator John Kerry. So much to get to rushed 23 00:01:25,680 --> 00:01:29,479 Speaker 1: off of the developments over the horrific shooting tragedies over 24 00:01:29,520 --> 00:01:32,760 Speaker 1: the weekend in Texas and Ohio. We have wall to 25 00:01:32,800 --> 00:01:35,640 Speaker 1: wall coverage of that coming up on in the program, 26 00:01:35,640 --> 00:01:39,200 Speaker 1: and Housing Secretary Ben Carson will phone in to give 27 00:01:39,319 --> 00:01:42,679 Speaker 1: us how the administration is planning to respond. But a 28 00:01:42,800 --> 00:01:47,080 Speaker 1: wild day on Wall Street as well surrounding US China 29 00:01:47,160 --> 00:01:50,400 Speaker 1: trade tensions. It's why we're so grateful that Bloomberg's very 30 00:01:50,440 --> 00:01:53,680 Speaker 1: own Tom Keene is joining us on the telephone line. 31 00:01:53,720 --> 00:01:57,400 Speaker 1: Tom Financial Markets, I'm reading from the Bloomberg terminal buckled 32 00:01:57,760 --> 00:02:01,120 Speaker 1: after China escalated the trade war with the US, sending 33 00:02:01,120 --> 00:02:04,920 Speaker 1: American stocks to the biggest drop this year and sparking 34 00:02:04,920 --> 00:02:09,440 Speaker 1: a rally and global bonds. Help us make sense of 35 00:02:09,480 --> 00:02:12,040 Speaker 1: all of this. For folks getting in their car and 36 00:02:12,120 --> 00:02:14,880 Speaker 1: on their way home from work, all the nation is, 37 00:02:14,880 --> 00:02:18,799 Speaker 1: you know, hugely distracted by the events in Texas and Ohio. 38 00:02:19,080 --> 00:02:22,359 Speaker 1: What we do in the racket, Kevin, is we don't 39 00:02:22,720 --> 00:02:25,840 Speaker 1: look at the stock market when the stock market plunges. 40 00:02:26,280 --> 00:02:28,880 Speaker 1: What we do, and you know I do the cross 41 00:02:28,960 --> 00:02:33,239 Speaker 1: asset thing. I'll say, let's look at equities, bonds, currencies, commodities, 42 00:02:33,680 --> 00:02:38,200 Speaker 1: the signals when the market drops three or the precipitous 43 00:02:38,200 --> 00:02:41,000 Speaker 1: decline of the last number of days. It's found in 44 00:02:41,040 --> 00:02:44,240 Speaker 1: the bond market. And what the bond market said today 45 00:02:44,960 --> 00:02:50,360 Speaker 1: comparing the different yields is there will be an economic slowdown. 46 00:02:50,440 --> 00:02:54,320 Speaker 1: The resounding message the first thing I looked at when 47 00:02:54,320 --> 00:02:57,560 Speaker 1: I use the Bloomberg terminal and myself phone to look 48 00:02:57,600 --> 00:03:00,560 Speaker 1: at bonds, and they don't say anything about China or 49 00:03:00,560 --> 00:03:04,919 Speaker 1: the US or that they say further economic flow down. 50 00:03:05,520 --> 00:03:10,800 Speaker 1: So it looks like investors are now essentially grappling and 51 00:03:10,919 --> 00:03:16,000 Speaker 1: accepting the new geo political reality that the US and 52 00:03:16,240 --> 00:03:20,720 Speaker 1: China are really headed to a long term trade battle. No, 53 00:03:21,360 --> 00:03:23,679 Speaker 1: then maybe that maybe one same Kevin, but you know, 54 00:03:23,720 --> 00:03:26,960 Speaker 1: I would point out there's a whole nother group of optimists. 55 00:03:27,040 --> 00:03:31,200 Speaker 1: Yackum Fells was quoted twenty minutes ago in the Washington Post. 56 00:03:31,639 --> 00:03:36,320 Speaker 1: He's a giant strategist of SIMCO and Dr Fells was 57 00:03:36,440 --> 00:03:40,279 Speaker 1: quite adamant that this is the pain before the solution 58 00:03:41,120 --> 00:03:43,840 Speaker 1: of the trade war. Of course, you're frankly better vers 59 00:03:43,920 --> 00:03:46,600 Speaker 1: at this than I am. Where's the solution out there 60 00:03:47,000 --> 00:03:50,040 Speaker 1: for a trade war? And well, it doesn't appear that 61 00:03:50,080 --> 00:03:52,080 Speaker 1: there is one of the People's Bank of China Governor 62 00:03:52,200 --> 00:03:55,560 Speaker 1: Ye Gang saying the nation will not use exchange rates 63 00:03:55,600 --> 00:03:59,120 Speaker 1: as a tool in the escalating dispute. Tom Keane Bloomberg 64 00:03:59,160 --> 00:04:02,400 Speaker 1: Surveillance is area and Tom Keane joining us on the line, Tom, 65 00:04:02,760 --> 00:04:05,560 Speaker 1: what just help me sort through this? Just for the 66 00:04:05,760 --> 00:04:08,200 Speaker 1: for the for the two are just coming home from work, 67 00:04:08,240 --> 00:04:11,000 Speaker 1: who want to know what all of this volatility in 68 00:04:11,040 --> 00:04:13,400 Speaker 1: the marketplace, what does it mean for their retirements? What 69 00:04:13,480 --> 00:04:15,720 Speaker 1: does it mean in terms of real estate? What's the 70 00:04:15,800 --> 00:04:20,400 Speaker 1: bottom line here? Because the market was bersark today, so 71 00:04:20,560 --> 00:04:23,080 Speaker 1: some it up for us precisely about what it means 72 00:04:23,120 --> 00:04:26,760 Speaker 1: for for main street, for women, means for main street. 73 00:04:27,240 --> 00:04:30,799 Speaker 1: And what every professional will say is ignore this volatility. 74 00:04:31,200 --> 00:04:33,440 Speaker 1: You've got a long term plan and stick to it. 75 00:04:34,040 --> 00:04:38,320 Speaker 1: The problem is fear, and this instability is the word 76 00:04:38,400 --> 00:04:41,960 Speaker 1: that pros use. This instability that we see that some 77 00:04:42,080 --> 00:04:47,039 Speaker 1: would say comes from political instability, This instability creates a 78 00:04:47,040 --> 00:04:50,200 Speaker 1: lot of fear, and each of us have to deal 79 00:04:50,520 --> 00:04:53,960 Speaker 1: with what we think the outcome of the fear will be. 80 00:04:54,080 --> 00:04:56,279 Speaker 1: And then back to what you cover every day, Kevin, 81 00:04:56,680 --> 00:05:00,000 Speaker 1: will this be the Chinese blinking, Will it be present 82 00:05:00,200 --> 00:05:04,400 Speaker 1: Trump blinking within the trade war, or frankly, will it 83 00:05:04,480 --> 00:05:09,520 Speaker 1: come from another place? Um, I must admit that every 84 00:05:09,520 --> 00:05:13,040 Speaker 1: single discussion from the FED meeting, which seems ages ago 85 00:05:13,720 --> 00:05:17,640 Speaker 1: it was a Wednesday last week, every single discussion is 86 00:05:18,120 --> 00:05:23,640 Speaker 1: we need clarity on the president's unilowed or approach to trade. Well, 87 00:05:23,760 --> 00:05:26,320 Speaker 1: good luck wishing for that, because I don't see clarity coming. 88 00:05:26,360 --> 00:05:28,720 Speaker 1: The President just within the last week saying that he 89 00:05:28,760 --> 00:05:32,039 Speaker 1: isn't anticipating a US China trade deal potentially until after 90 00:05:33,080 --> 00:05:34,920 Speaker 1: I can tell you that I talked to sources inside 91 00:05:34,960 --> 00:05:37,920 Speaker 1: the administration who say that come the fall, in order 92 00:05:37,960 --> 00:05:41,520 Speaker 1: to ramp up pressure on Speaker Pelosi's House of Repetitives 93 00:05:41,520 --> 00:05:43,279 Speaker 1: to get U S m c A passed, we could 94 00:05:43,279 --> 00:05:46,960 Speaker 1: see additional tariff threats with regards to Mexico. So that's 95 00:05:46,960 --> 00:05:49,360 Speaker 1: on the short term horizon. And then, of course you've 96 00:05:49,400 --> 00:05:52,200 Speaker 1: got populism not just running rampant on the right but 97 00:05:52,400 --> 00:05:56,320 Speaker 1: also on the left. Left. Tom Keen bottom line parting words, 98 00:05:56,360 --> 00:05:59,040 Speaker 1: I know you've got to go appreciate your time. Final 99 00:05:59,080 --> 00:06:02,320 Speaker 1: thoughts all. My final thoughts is we're gonna come in 100 00:06:02,320 --> 00:06:05,440 Speaker 1: tomorrow morning. We're gonna see Asia open and we're gonna 101 00:06:05,480 --> 00:06:09,120 Speaker 1: see London open. What I would focus on tomorrow on 102 00:06:09,160 --> 00:06:12,480 Speaker 1: this is sort of insight baseball, Kevin. I'm gonna watch 103 00:06:12,600 --> 00:06:17,599 Speaker 1: for any action by a Chinese including further you want 104 00:06:17,720 --> 00:06:21,279 Speaker 1: evaluation that could have happened. And then I'm gonna watch 105 00:06:21,560 --> 00:06:26,560 Speaker 1: for European interest rates because the banking system will begin 106 00:06:26,600 --> 00:06:32,000 Speaker 1: to react and the German interest rates are That's a thermometer, 107 00:06:32,440 --> 00:06:35,480 Speaker 1: the litmusphere that the pros will look at. So by 108 00:06:35,520 --> 00:06:38,640 Speaker 1: the time we get morrow warning, we're gonna already have 109 00:06:38,760 --> 00:06:41,840 Speaker 1: the Asian markets and then the German bond market to 110 00:06:41,880 --> 00:06:44,920 Speaker 1: look at. Buckle up. Bloomberg Surveillance is Tom Keene, Tom, 111 00:06:44,920 --> 00:06:47,279 Speaker 1: I'll see you tomorrow on Bloomberg Television. Bright and Early. 112 00:06:47,320 --> 00:06:51,680 Speaker 1: Appreciate you coming on. Coming up, Panel Reacts Terry Sullivan, 113 00:06:51,960 --> 00:06:56,799 Speaker 1: partner at fire House Strategies, former Marco Rubio presidential campaign manager, 114 00:06:57,080 --> 00:07:00,520 Speaker 1: and Roger Fisk democratic strategist. Former c and your Aid 115 00:07:00,839 --> 00:07:05,839 Speaker 1: Just Senator John Kerry. Also coming up, Housing Secretary Ben Carson. 116 00:07:05,920 --> 00:07:09,520 Speaker 1: You can download Bloomberg Surveillance, as well as Bloomberg Sound 117 00:07:09,560 --> 00:07:13,200 Speaker 1: On podcast on Apple iTunes, at Bloomberg dot com, or 118 00:07:13,240 --> 00:07:16,080 Speaker 1: by downloading the Bloomberg Business app. You can also find 119 00:07:16,160 --> 00:07:18,960 Speaker 1: us on Radio dot Com, I Heart Radio, and Spotify. 120 00:07:19,080 --> 00:07:26,800 Speaker 1: I'm Kevin Cirelli. You're listening to Bloomberg. You're listening to 121 00:07:26,840 --> 00:07:31,480 Speaker 1: Bloomberg Sound On with Kevin Surrele on Bloomberg and one 122 00:07:31,480 --> 00:07:34,160 Speaker 1: oh five point seven f M h D two. I'm 123 00:07:34,240 --> 00:07:38,360 Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and Bloomberg 124 00:07:38,760 --> 00:07:43,040 Speaker 1: Radio and work. Joined by two political all stars, Terry Sullivan, 125 00:07:43,360 --> 00:07:48,800 Speaker 1: partner at Firehouse Strategies, former Mark of Rubio presidential campaign manager, 126 00:07:49,080 --> 00:07:52,680 Speaker 1: and Roger Fiske. He is a Democratic strategist and also 127 00:07:52,760 --> 00:07:56,480 Speaker 1: a principal at New Day Strategy. He's also a a 128 00:07:56,520 --> 00:08:01,440 Speaker 1: twelve year Obama administration alum, having worked on his campaigns 129 00:08:01,440 --> 00:08:04,960 Speaker 1: and within the Obama administration. A gentleman, thanks for being here. 130 00:08:05,040 --> 00:08:07,560 Speaker 1: We were talking earlier with lucilence is Tom Keene about 131 00:08:07,560 --> 00:08:11,920 Speaker 1: the wild day on Wall Street financial markets buckling following 132 00:08:11,960 --> 00:08:14,280 Speaker 1: the escalation between the U S and China, and just 133 00:08:14,320 --> 00:08:17,960 Speaker 1: to get everybody caught up to speed on what transpired 134 00:08:18,680 --> 00:08:21,320 Speaker 1: was at the end of last week President Trump threatening 135 00:08:21,360 --> 00:08:25,240 Speaker 1: three hundred billion dollars worth of additional tariffs on the 136 00:08:25,400 --> 00:08:31,640 Speaker 1: already impacted trade goods that he has h tariffs. And 137 00:08:31,680 --> 00:08:35,880 Speaker 1: then beyond that you have China threatening tariffs of their 138 00:08:35,880 --> 00:08:40,360 Speaker 1: own and also instructing state run UH firm state run 139 00:08:40,400 --> 00:08:45,000 Speaker 1: businesses UH to make some limitations with the agricultural sector. 140 00:08:45,040 --> 00:08:50,240 Speaker 1: The bottom line, this is being interpreted as a longer 141 00:08:50,360 --> 00:08:57,480 Speaker 1: term trade struggle between Washington and Beijing. Terry. In terms 142 00:08:57,520 --> 00:09:02,000 Speaker 1: of the policy implications of this, I think what everyone 143 00:09:02,080 --> 00:09:05,440 Speaker 1: is looking for Wall Street, Main Street is some type 144 00:09:05,440 --> 00:09:09,880 Speaker 1: of endpoint for when this will stop. And I'm not 145 00:09:09,880 --> 00:09:12,800 Speaker 1: sure that we're gonna get one. Yeah, I mean the 146 00:09:12,880 --> 00:09:16,640 Speaker 1: endpoint will be when the pain just gets too great. UM. 147 00:09:17,160 --> 00:09:19,680 Speaker 1: No one's gonna win this trade war. There's just gonna 148 00:09:19,679 --> 00:09:23,359 Speaker 1: be degrees of losers UH and and sadly, the losers 149 00:09:23,400 --> 00:09:26,960 Speaker 1: that we care about is the American consumer UM. And 150 00:09:27,040 --> 00:09:30,480 Speaker 1: eventually it's going to be painful enough where President Trump 151 00:09:30,840 --> 00:09:33,840 Speaker 1: will probably just quit this. But but this is just 152 00:09:34,320 --> 00:09:38,400 Speaker 1: crazy policy that is UH the U S economy. I've 153 00:09:38,400 --> 00:09:41,280 Speaker 1: never seen a guy do so much UH to help 154 00:09:41,400 --> 00:09:45,200 Speaker 1: the the economy while at the same time trying to 155 00:09:45,240 --> 00:09:47,880 Speaker 1: do so much to hurt it. Roger, I mean your 156 00:09:48,080 --> 00:09:52,280 Speaker 1: your synopsis of this well, listening to your colleague and 157 00:09:52,440 --> 00:09:54,559 Speaker 1: looking at our allies and the other markets around the world. 158 00:09:54,600 --> 00:09:56,240 Speaker 1: I mean, one of the one of the main things 159 00:09:56,240 --> 00:10:01,200 Speaker 1: that they all share is a complete allergy to uncertainty, 160 00:10:01,320 --> 00:10:04,240 Speaker 1: right um. And to Terry's point, there's there's not a 161 00:10:04,360 --> 00:10:08,200 Speaker 1: sense that there's any kind of structure or agenda or 162 00:10:08,320 --> 00:10:13,920 Speaker 1: cohesive policy kind of framework that the president is operating with. 163 00:10:14,040 --> 00:10:15,760 Speaker 1: And I think the story of the first year of 164 00:10:15,760 --> 00:10:18,360 Speaker 1: the Trump administration is going to be that this guy 165 00:10:18,400 --> 00:10:22,480 Speaker 1: has no idea what he's doing. The second year story 166 00:10:22,559 --> 00:10:24,680 Speaker 1: is he has no intention of learning what he's doing. 167 00:10:24,679 --> 00:10:27,840 Speaker 1: And the third year is there's he's evacuated the White 168 00:10:27,880 --> 00:10:31,640 Speaker 1: House of anyone that can have a sober adult conversation 169 00:10:31,679 --> 00:10:33,880 Speaker 1: with him. For example, the fact that he still is 170 00:10:33,920 --> 00:10:37,360 Speaker 1: going around saying that China, the government of China, is 171 00:10:37,360 --> 00:10:40,080 Speaker 1: paying billions of dollars into the U. S. Treasury, which 172 00:10:40,160 --> 00:10:45,920 Speaker 1: is just so patentently false and incorrect and wrong and dishonest. 173 00:10:46,200 --> 00:10:48,080 Speaker 1: And the fact that there's not a single adult in 174 00:10:48,120 --> 00:10:49,760 Speaker 1: the White House that can sit down and have a 175 00:10:49,840 --> 00:10:52,920 Speaker 1: conversation with him and divest him of That is emblematic 176 00:10:52,960 --> 00:10:55,559 Speaker 1: of of the much bigger problem. Roger Fisk is here. 177 00:10:55,640 --> 00:10:57,560 Speaker 1: He has a partner at New Day Strategy. He's a 178 00:10:57,559 --> 00:11:01,600 Speaker 1: Democratic strategist, twelve year Obama a law as is Terry Sullivan, 179 00:11:01,720 --> 00:11:05,440 Speaker 1: a Republican strategist partner at Firehouse Strategies, the former campaign 180 00:11:05,440 --> 00:11:09,280 Speaker 1: manager to Marco Rubio's presidential run. Stock suffering their biggest 181 00:11:09,280 --> 00:11:12,840 Speaker 1: one day decline of twenty nineteen on Monday, according to 182 00:11:12,920 --> 00:11:15,720 Speaker 1: Market Watches, China allowed its currency to fall to a 183 00:11:15,760 --> 00:11:19,000 Speaker 1: more than ten year low versus the dollar. I want 184 00:11:19,000 --> 00:11:21,920 Speaker 1: to read for you the tweets coming from President Trump 185 00:11:22,000 --> 00:11:25,640 Speaker 1: earlier this morning, and he said, quote, China is intent 186 00:11:25,800 --> 00:11:28,800 Speaker 1: on continuing to receive the hundreds of billions of dollars 187 00:11:28,840 --> 00:11:32,160 Speaker 1: they have been taking from the US with unfair trade 188 00:11:32,160 --> 00:11:36,400 Speaker 1: practices and currency manipulation so one sided. It should have 189 00:11:36,440 --> 00:11:40,320 Speaker 1: been stopped many years ago. I was at the White 190 00:11:40,320 --> 00:11:43,280 Speaker 1: House earlier today, Terry, and I was struck by as 191 00:11:43,320 --> 00:11:47,480 Speaker 1: the tweets were coming out because he President Trump keeps 192 00:11:47,480 --> 00:11:51,840 Speaker 1: saying currency manipulation, and we all know that should the 193 00:11:51,880 --> 00:11:56,240 Speaker 1: administration label China as a currency manipulator, that that would 194 00:11:56,280 --> 00:12:00,200 Speaker 1: even be a further escalation, and the President had in 195 00:12:00,240 --> 00:12:04,120 Speaker 1: recent weeks suggested publicly as well as via social media 196 00:12:04,200 --> 00:12:07,040 Speaker 1: and other accounts through through top economic advisors, that he 197 00:12:07,080 --> 00:12:11,840 Speaker 1: has backed off, backed off of labeling Beijing and President 198 00:12:11,920 --> 00:12:16,559 Speaker 1: shi jing Ping a currency manipulator. But by all accounts, 199 00:12:16,679 --> 00:12:20,400 Speaker 1: when the President today is tweeting and using the words 200 00:12:20,440 --> 00:12:23,520 Speaker 1: currency manipulator, I just you know, I hear Roger's point 201 00:12:23,520 --> 00:12:26,400 Speaker 1: and hear your point, but I think we would all agree. 202 00:12:26,400 --> 00:12:29,280 Speaker 1: I don't think President Trump is listening to these concerns. 203 00:12:29,440 --> 00:12:32,600 Speaker 1: I think this could get even more intense. Yeah, that's 204 00:12:32,679 --> 00:12:34,839 Speaker 1: I guess maybe that maybe I misspoke, but that was 205 00:12:34,880 --> 00:12:36,760 Speaker 1: my point. This is gonna get a lot worse before 206 00:12:36,760 --> 00:12:40,199 Speaker 1: it gets better. UM. It is. It's going to the 207 00:12:40,720 --> 00:12:42,680 Speaker 1: only thing that is going to make him stop. This 208 00:12:42,880 --> 00:12:48,120 Speaker 1: is an overwhelming amount of pressure. UH that it isn't working. Um, 209 00:12:48,320 --> 00:12:50,480 Speaker 1: And he doesn't seem to have his finger on the 210 00:12:50,520 --> 00:12:53,600 Speaker 1: pulse of much. So do you believe that he will 211 00:12:54,440 --> 00:12:57,280 Speaker 1: It will take a blunt object to UH to help 212 00:12:57,480 --> 00:13:01,120 Speaker 1: coax him along on this. Roger I was in essentially 213 00:13:01,160 --> 00:13:03,400 Speaker 1: one of the ground zeros in America last week for 214 00:13:03,480 --> 00:13:08,240 Speaker 1: trade policy, Detroit, Michigan, the Motor City. And when I 215 00:13:08,280 --> 00:13:11,160 Speaker 1: was listening to the Democratic presidential candidates, all twenty of 216 00:13:11,200 --> 00:13:14,679 Speaker 1: them night, and even the ones off the stage. I 217 00:13:14,679 --> 00:13:17,880 Speaker 1: mean I when I listened to Senator Bernie Sanders, when 218 00:13:17,920 --> 00:13:20,400 Speaker 1: I listened to Senator Elizabeth Warren and some of these 219 00:13:20,400 --> 00:13:25,800 Speaker 1: other more progressive candidates speak, they yes, there are differences 220 00:13:25,840 --> 00:13:27,880 Speaker 1: between President Trump and I'm not going to suggest that 221 00:13:27,920 --> 00:13:30,000 Speaker 1: there isn't that there aren't any differences. But on the 222 00:13:30,040 --> 00:13:32,920 Speaker 1: issue with tariffs, there are candidates in that Democratic party 223 00:13:32,920 --> 00:13:36,960 Speaker 1: who who to subscribe to to using cariiffs as a 224 00:13:36,960 --> 00:13:40,240 Speaker 1: as a tool in order to negotiate trade. Are there not? 225 00:13:42,240 --> 00:13:43,680 Speaker 1: I mean, I'll take your word for it. I don't 226 00:13:43,679 --> 00:13:46,880 Speaker 1: remember a specific exchange where people came out as pro terror. 227 00:13:46,920 --> 00:13:49,680 Speaker 1: They didn't even talk much about trade, which is I 228 00:13:49,720 --> 00:13:51,720 Speaker 1: think a big mistake for the Democrats. I think what's 229 00:13:51,720 --> 00:13:53,959 Speaker 1: really missing right now on the Democratic side, because I 230 00:13:53,960 --> 00:13:56,800 Speaker 1: don't mind being kind of self scrutinous in this conversation, 231 00:13:57,280 --> 00:14:01,000 Speaker 1: is a broad, cohesive kind of success narrative. Right Like 232 00:14:01,040 --> 00:14:05,839 Speaker 1: everything is about spending an aid and assistance and programs, 233 00:14:05,880 --> 00:14:10,880 Speaker 1: setting aside the whole uh infrastructure of how wealth is created, 234 00:14:11,280 --> 00:14:13,880 Speaker 1: and I think some there's still room for someone to 235 00:14:14,480 --> 00:14:18,480 Speaker 1: come forward with a much more comprehensive and robust kind 236 00:14:18,480 --> 00:14:21,240 Speaker 1: of success narrative to talk about the free market and 237 00:14:21,280 --> 00:14:23,040 Speaker 1: the virtues of the free market and how that can 238 00:14:23,120 --> 00:14:26,040 Speaker 1: lift families and communities. And no one's doing that right now. 239 00:14:26,520 --> 00:14:29,800 Speaker 1: Um yeah, but that that would be a Republican debate. Actually, 240 00:14:29,840 --> 00:14:32,080 Speaker 1: I mean, look, at the end of the day, if 241 00:14:32,160 --> 00:14:35,480 Speaker 1: if like that debate was was a race to show 242 00:14:35,800 --> 00:14:40,600 Speaker 1: how extremely conservative Barack Obama was, it was it was 243 00:14:40,840 --> 00:14:43,640 Speaker 1: mind boggling to me how far left those folks are 244 00:14:43,680 --> 00:14:47,000 Speaker 1: willing to run and and and the way I saw it, 245 00:14:47,000 --> 00:14:51,240 Speaker 1: it was, you know, demagogria, how awful wealth is. And 246 00:14:51,320 --> 00:14:53,960 Speaker 1: so I mean, I I guess what I'm saying that 247 00:14:53,960 --> 00:14:56,160 Speaker 1: I kind of agree with you, but it it's pretty 248 00:14:56,720 --> 00:15:00,480 Speaker 1: uh jarring that the Democrats are going to get Donald 249 00:15:00,480 --> 00:15:04,160 Speaker 1: Trump reelected because they're just going to keep running further 250 00:15:04,160 --> 00:15:06,520 Speaker 1: and further to the left, Which is somewhat my point. 251 00:15:06,520 --> 00:15:08,600 Speaker 1: We're kind of arriving at the same place, obviously from 252 00:15:08,600 --> 00:15:13,280 Speaker 1: different directions. But um, the since World War Two, the 253 00:15:13,280 --> 00:15:15,520 Speaker 1: stock market in the economy has traditionally done much better 254 00:15:15,560 --> 00:15:21,120 Speaker 1: under Democrats. For example, than Republicans, um. And what is missing, um, 255 00:15:21,280 --> 00:15:27,120 Speaker 1: is that, uh, that discussion of economic wealth generation and 256 00:15:27,240 --> 00:15:31,840 Speaker 1: success and which has not always been a complete orphan 257 00:15:32,000 --> 00:15:34,920 Speaker 1: within the democratic conversation, within the Democratic Party. So I 258 00:15:34,960 --> 00:15:37,360 Speaker 1: agree with you that it's it's it's by virtue of 259 00:15:37,360 --> 00:15:39,840 Speaker 1: of the primary pushing folks to the left. But I 260 00:15:39,880 --> 00:15:43,920 Speaker 1: do think, uh, if if if someone were to step 261 00:15:43,960 --> 00:15:47,400 Speaker 1: forward and put together a concept program about small businesses 262 00:15:47,400 --> 00:15:51,400 Speaker 1: and entrepreneurship and at the same time pledged to audit 263 00:15:51,440 --> 00:15:53,200 Speaker 1: the U S Tax code, and I bet we could 264 00:15:53,200 --> 00:15:55,120 Speaker 1: go through and find ten things that we could either 265 00:15:55,120 --> 00:15:58,400 Speaker 1: tweak or remove that would harm a single worker or child, 266 00:15:58,520 --> 00:16:02,000 Speaker 1: or forest or stream, that that would not only serve 267 00:16:02,040 --> 00:16:04,880 Speaker 1: them well in a in a big field like this, 268 00:16:04,960 --> 00:16:07,280 Speaker 1: it would probably be the death knew in a small field, 269 00:16:07,280 --> 00:16:08,760 Speaker 1: but at least for right now in a big field, 270 00:16:08,800 --> 00:16:12,800 Speaker 1: and it would inoculate them against the socialist label for 271 00:16:12,920 --> 00:16:14,800 Speaker 1: a year from now, because as we all know, the 272 00:16:14,800 --> 00:16:19,720 Speaker 1: Democrats could nominate Bull Connor and Um and Father Coughlin 273 00:16:19,840 --> 00:16:23,320 Speaker 1: as a ticket and the current occupant of the White 274 00:16:23,320 --> 00:16:26,720 Speaker 1: House is gonna label them socialist anyway. It's it's it's 275 00:16:26,720 --> 00:16:29,720 Speaker 1: a fascinating debate and I think just as you, as 276 00:16:29,760 --> 00:16:32,640 Speaker 1: you try to get a long term sense, everybody says 277 00:16:32,680 --> 00:16:35,720 Speaker 1: the president chi Jing Ping is playing a long game 278 00:16:35,760 --> 00:16:38,840 Speaker 1: and just trying to outweight a Trump administration. Well, I 279 00:16:39,280 --> 00:16:41,600 Speaker 1: would say Beijing ought to look to the left because 280 00:16:41,720 --> 00:16:44,000 Speaker 1: I'm looking at the left, and I'm looking at the 281 00:16:44,080 --> 00:16:46,520 Speaker 1: progressive voices on the left, and and they are still 282 00:16:46,560 --> 00:16:50,320 Speaker 1: going to be impacting the party regardless of whomever the 283 00:16:50,400 --> 00:16:54,320 Speaker 1: nominee or president is going to be. So this idea 284 00:16:55,200 --> 00:16:58,200 Speaker 1: that all of a sudden there's gonna be president Chamber 285 00:16:58,240 --> 00:17:02,120 Speaker 1: of Commerce in it's just not It doesn't match with 286 00:17:02,160 --> 00:17:05,320 Speaker 1: the reporting or or really in terms of how how 287 00:17:05,400 --> 00:17:08,080 Speaker 1: you unify a party even uh So, I think that 288 00:17:08,080 --> 00:17:10,720 Speaker 1: that's that's interesting, really grateful to have two all stars, 289 00:17:10,800 --> 00:17:13,639 Speaker 1: Terry Sullivan Roger Fist to help us navigate through what 290 00:17:13,760 --> 00:17:16,480 Speaker 1: was a wild day on Wall Street, and coming up, 291 00:17:16,520 --> 00:17:20,280 Speaker 1: we have much more following the tragedies in Ohio and 292 00:17:20,320 --> 00:17:23,919 Speaker 1: in Texas and the mass shootings. President Trump calling on 293 00:17:24,000 --> 00:17:27,199 Speaker 1: bipartisan reform, but can he get it. I'll play for 294 00:17:27,240 --> 00:17:30,320 Speaker 1: you the remarks from President Trump earlier today at the 295 00:17:30,359 --> 00:17:33,760 Speaker 1: White House, and Housing Secretary Ben Carson calls in to 296 00:17:33,880 --> 00:17:38,119 Speaker 1: join us for his take on how the administration is 297 00:17:38,160 --> 00:17:42,080 Speaker 1: looking to pass some of these reforms. You can download 298 00:17:42,080 --> 00:17:45,320 Speaker 1: the Bloomberg Sound On podcast on Apple iTunes, at Bloomberg 299 00:17:45,320 --> 00:17:47,960 Speaker 1: dot com, or by downloading the Bloomberg Business app. You 300 00:17:48,000 --> 00:17:50,160 Speaker 1: can also find me on Radio dot Com, I Heart 301 00:17:50,240 --> 00:17:53,960 Speaker 1: Radio and Spotify. I'm Kevin CURRELLI, Chief Washington correspondent for 302 00:17:53,960 --> 00:17:57,280 Speaker 1: Bloomberg Television of Bloomberg Radio, and you're listening to Bloomberg. 303 00:18:03,280 --> 00:18:07,720 Speaker 1: This is Bloomberg Sound On with Kevin Surrele on Bloomberg 304 00:18:09,080 --> 00:18:13,800 Speaker 1: five h d two. In one voice, our nation must 305 00:18:13,800 --> 00:18:20,240 Speaker 1: condemn racism, bigotry, and white supremacy. That was President Trump 306 00:18:20,320 --> 00:18:24,040 Speaker 1: speaking earlier today at the White House following the shootings 307 00:18:24,040 --> 00:18:27,920 Speaker 1: in El Paso and Dayton, Ohio. I'm Kevin Cirelli, Chief 308 00:18:27,920 --> 00:18:31,880 Speaker 1: Washington correspondent from Bloomberg Television and Bloomberg Radio. Coming up 309 00:18:32,040 --> 00:18:34,359 Speaker 1: later on in the program, We're gonna hear from Housing 310 00:18:34,400 --> 00:18:37,400 Speaker 1: Secretary Ben Carson, who will give us an inside look 311 00:18:37,720 --> 00:18:41,720 Speaker 1: about his meetings with President Trump today regarding gun control. 312 00:18:42,160 --> 00:18:44,760 Speaker 1: Joining me now in studio Terry Sullivan, a partner at 313 00:18:44,800 --> 00:18:50,320 Speaker 1: Firehouse Strategies, former Ruby presidential campaign manager, and Roger Fisk 314 00:18:50,400 --> 00:18:55,080 Speaker 1: Democratic strategist, a Obama alum and a principal at New 315 00:18:55,160 --> 00:18:59,600 Speaker 1: Day Strategies. Gentlemen, uh, I'm reading from the Bloomberg Terminal. 316 00:18:59,640 --> 00:19:02,400 Speaker 1: There was a massive headline this afternoon following the President's 317 00:19:02,400 --> 00:19:06,480 Speaker 1: remarks regarding the violence over the weekends. Stephen T. Dennis, 318 00:19:06,560 --> 00:19:09,640 Speaker 1: reporting on the Bloomberg Terminal, headline reads, mass shootings give 319 00:19:09,680 --> 00:19:13,920 Speaker 1: gun bill urging red flags a boost in the Senate. 320 00:19:14,560 --> 00:19:18,840 Speaker 1: Trump ally and Senate Judiciary Committee Chairman Lindsey Graham said 321 00:19:18,920 --> 00:19:22,560 Speaker 1: Monday that he and Democratic Senator Richard Blumenthal, a gun 322 00:19:22,640 --> 00:19:26,480 Speaker 1: control advocate, had agreed to push through legislation to help 323 00:19:26,560 --> 00:19:31,280 Speaker 1: states adopt so called red flag laws intended to take 324 00:19:31,440 --> 00:19:36,879 Speaker 1: fire army from dangerous or mentally ill peep. That was 325 00:19:36,920 --> 00:19:40,919 Speaker 1: something that President Trump said that he would support in 326 00:19:41,240 --> 00:19:46,000 Speaker 1: his during his remarks at the White House earlier today. 327 00:19:46,040 --> 00:19:48,200 Speaker 1: And just to give a bit of a backstory, red 328 00:19:48,200 --> 00:19:51,240 Speaker 1: flag laws drew interest from the White House in Congress 329 00:19:51,280 --> 00:19:56,760 Speaker 1: after the mass shootings. But it really would be difficult, 330 00:19:57,760 --> 00:20:00,440 Speaker 1: Terry to get this on the ledge a slate of 331 00:20:00,520 --> 00:20:03,160 Speaker 1: calendar when you look at the political makeup of this 332 00:20:03,880 --> 00:20:07,080 Speaker 1: That said, more than a dozen states have already passed 333 00:20:07,640 --> 00:20:10,439 Speaker 1: similar laws and what this would do is create a 334 00:20:10,520 --> 00:20:15,440 Speaker 1: federal grant program to assist and encourage states to adopt 335 00:20:15,520 --> 00:20:19,680 Speaker 1: more stringent laws to timely intervene in situations when there 336 00:20:19,760 --> 00:20:23,080 Speaker 1: is an imminent threat of violence. So it would provide 337 00:20:23,080 --> 00:20:26,200 Speaker 1: funds to these states. Orry. Yeah, it seems like very 338 00:20:26,200 --> 00:20:30,280 Speaker 1: common sense legislation. Um, but there is a coarseness in 339 00:20:30,320 --> 00:20:34,400 Speaker 1: our political rhetoric now that even in a tragedy like this, 340 00:20:34,480 --> 00:20:38,040 Speaker 1: and and we see it more and more unfortunately, that 341 00:20:38,920 --> 00:20:42,640 Speaker 1: both sides just point to the other side. It's never 342 00:20:42,720 --> 00:20:45,480 Speaker 1: anyone's own fault. It's always the other guy's fault and 343 00:20:45,560 --> 00:20:51,760 Speaker 1: other guy's fault. And it's it's frustrating because there's not 344 00:20:51,800 --> 00:20:55,200 Speaker 1: going to be real movement on this unless both sides 345 00:20:55,280 --> 00:20:58,440 Speaker 1: work together. And I don't know that Lindsey Graham and 346 00:20:59,080 --> 00:21:03,000 Speaker 1: Richard blumenthals uh, there's the political capital or the willingness 347 00:21:03,119 --> 00:21:05,960 Speaker 1: to uh to spend that capital to do it. I 348 00:21:06,320 --> 00:21:08,800 Speaker 1: was struck by this, Roger. I remember I was a 349 00:21:08,840 --> 00:21:15,760 Speaker 1: reporter at Politico covering the fallout of the horrific tragedy 350 00:21:15,840 --> 00:21:20,360 Speaker 1: at Sandy Hook and in Newtown, Connecticut. And I remember 351 00:21:20,760 --> 00:21:24,280 Speaker 1: when Senator Joe Mansion, a centrist Democrat from West Virginia 352 00:21:24,440 --> 00:21:27,679 Speaker 1: and a conservative conservative Senator, Senator Pat to Me, a 353 00:21:27,720 --> 00:21:31,359 Speaker 1: Republican from Pennsylvania. They put forth the Mansion to Me 354 00:21:32,040 --> 00:21:36,639 Speaker 1: proposal that was supposed to be the bipartisan effort to 355 00:21:36,760 --> 00:21:44,000 Speaker 1: close loopholes. It didn't pass, and earlier today President Trump 356 00:21:44,000 --> 00:21:47,720 Speaker 1: reportedly calling Senator to Me and he is actually, he 357 00:21:47,840 --> 00:21:50,920 Speaker 1: actually told reporters today Senator to Me did that he's 358 00:21:51,040 --> 00:21:54,720 Speaker 1: urging Senate Majority Leader Mitch Monel to give the to 359 00:21:54,920 --> 00:21:59,320 Speaker 1: me mansion legislation another thought iteration. But for whatever reason, 360 00:21:59,359 --> 00:22:02,720 Speaker 1: it just doesn't look like it just doesn't look like 361 00:22:02,800 --> 00:22:07,720 Speaker 1: that the appetites there. Well, my frustration is even bigger 362 00:22:07,720 --> 00:22:10,480 Speaker 1: than that, which is, say to me and Mansion and 363 00:22:10,920 --> 00:22:13,399 Speaker 1: Graham and all those folks, decide to move forward and 364 00:22:13,440 --> 00:22:16,800 Speaker 1: put together a comprehensive strategy and and you know, bring 365 00:22:16,800 --> 00:22:18,760 Speaker 1: in the governors and do all the things that would 366 00:22:18,800 --> 00:22:22,720 Speaker 1: happen in any kind of normal administration or political calendar. 367 00:22:22,960 --> 00:22:25,760 Speaker 1: And then all you need to have happen is for 368 00:22:25,840 --> 00:22:28,480 Speaker 1: a coult or to tweet something or for a particular 369 00:22:28,480 --> 00:22:31,240 Speaker 1: guest on Fox and Friends, and the President will drop 370 00:22:31,440 --> 00:22:35,439 Speaker 1: the entire thing like a hot potato, as he has 371 00:22:35,480 --> 00:22:39,040 Speaker 1: done many other times, even sometimes when Vice President Pence 372 00:22:39,640 --> 00:22:41,879 Speaker 1: um for example, one of the one of the budget 373 00:22:42,200 --> 00:22:45,120 Speaker 1: to fix the shutdown, even while Pence is in meetings 374 00:22:45,119 --> 00:22:47,919 Speaker 1: on Capitol Hill, the President will take him out at 375 00:22:47,920 --> 00:22:51,040 Speaker 1: the knees as a response to having just seen like 376 00:22:51,119 --> 00:22:54,720 Speaker 1: some random guest on some random show. So having a 377 00:22:54,800 --> 00:22:57,920 Speaker 1: legislative strategy and all the things that were somewhat used 378 00:22:57,960 --> 00:23:00,480 Speaker 1: to in some of these initiatives can be blown apart 379 00:23:00,920 --> 00:23:05,119 Speaker 1: um by this erratic individual who is gonna react based 380 00:23:05,160 --> 00:23:07,280 Speaker 1: on something that he just saw in the last thirty seconds. 381 00:23:07,400 --> 00:23:09,840 Speaker 1: With with all due respect, that's kind of the BS 382 00:23:09,880 --> 00:23:14,520 Speaker 1: I'm talking about in that it's not a President Trump issue, 383 00:23:14,720 --> 00:23:18,160 Speaker 1: it's not a Democrat issue. Barack Obama didn't solve this 384 00:23:18,160 --> 00:23:21,040 Speaker 1: this issue either. Those those shootings you're talking about were 385 00:23:21,080 --> 00:23:23,639 Speaker 1: under President Obama. It's not his fault anymore than his 386 00:23:23,680 --> 00:23:26,600 Speaker 1: president's Trump's fault. But the problem is is that we 387 00:23:26,800 --> 00:23:30,040 Speaker 1: so quickly just dig into our sides of red Jersey, 388 00:23:30,040 --> 00:23:32,600 Speaker 1: Blue Jersey and start attacking each other and say it's 389 00:23:32,600 --> 00:23:34,600 Speaker 1: only the other side's fault, and this is why nothing 390 00:23:34,600 --> 00:23:38,000 Speaker 1: meaningful has happened. No, it's both sides faults. And I 391 00:23:38,000 --> 00:23:39,919 Speaker 1: will grant. I will grant Terry some of that, but 392 00:23:39,960 --> 00:23:41,840 Speaker 1: I want to be very clear about what I'm saying. 393 00:23:42,440 --> 00:23:47,040 Speaker 1: It's I'm not saying the president is wrong, even though 394 00:23:47,080 --> 00:23:50,560 Speaker 1: I believe he is. I'm saying that the on the 395 00:23:50,600 --> 00:23:53,320 Speaker 1: president can turn on a dime, and and and the 396 00:23:53,640 --> 00:23:56,280 Speaker 1: number of these situations. And I trust you wouldn't necessarily 397 00:23:56,280 --> 00:23:58,399 Speaker 1: debate me on whether or not this has happened before 398 00:23:58,880 --> 00:24:03,200 Speaker 1: where he will literally really course correct um based on 399 00:24:04,080 --> 00:24:06,800 Speaker 1: you know, I mean, he if Mark Meadows or Jim 400 00:24:06,880 --> 00:24:08,800 Speaker 1: Jordan or something call him and say we're not going 401 00:24:08,800 --> 00:24:12,160 Speaker 1: for this, he will drop Uh, he will drop McCarthy, 402 00:24:12,200 --> 00:24:13,840 Speaker 1: he will drop any of those other folks. So my 403 00:24:14,000 --> 00:24:17,000 Speaker 1: point is more processed, and I tried to not put 404 00:24:17,040 --> 00:24:20,080 Speaker 1: that into the cast of the mold that you um 405 00:24:20,400 --> 00:24:22,560 Speaker 1: referenced in your comment in your comment, which I actually 406 00:24:22,600 --> 00:24:25,520 Speaker 1: look largely with. My thing is this individual is so 407 00:24:25,680 --> 00:24:29,040 Speaker 1: erratic that nothing matters been you know, five minutes ago 408 00:24:29,200 --> 00:24:31,280 Speaker 1: and five minutes from now. Terry Sullivan's here. He's a 409 00:24:31,280 --> 00:24:34,520 Speaker 1: partner of Firehouse Strategies. Roser Roger Fisk is here as well. 410 00:24:34,600 --> 00:24:38,040 Speaker 1: He is a principal at New Day Strategy. I'm interested 411 00:24:38,240 --> 00:24:41,560 Speaker 1: in terms of the scure. To to Roger's point on process, 412 00:24:41,600 --> 00:24:44,880 Speaker 1: President Trump tweeting this morning, uh, suggesting that he would 413 00:24:44,920 --> 00:24:47,040 Speaker 1: like to have some type of gun control or gun 414 00:24:47,080 --> 00:24:53,320 Speaker 1: reform conversation linked to immigration immigration reform, Rogers rolling his eyes. 415 00:24:53,359 --> 00:24:56,280 Speaker 1: I mean, I'm not sure how how that would. I 416 00:24:56,320 --> 00:24:58,160 Speaker 1: don't see that there's an appetite for that. But then 417 00:24:58,200 --> 00:25:03,680 Speaker 1: just one more Jared tack it were issue, should take 418 00:25:03,680 --> 00:25:09,320 Speaker 1: it on, one more issue in terms of in terms 419 00:25:09,359 --> 00:25:12,480 Speaker 1: of the process was back following the horrific, horrific tragedy 420 00:25:12,720 --> 00:25:16,119 Speaker 1: at Sandy Hook. Republicans control the House of Representatives and 421 00:25:16,280 --> 00:25:20,480 Speaker 1: see the n r A having sunk uh or having 422 00:25:20,840 --> 00:25:25,640 Speaker 1: say that's that's having influenced the Republicans and the House 423 00:25:25,680 --> 00:25:28,600 Speaker 1: of Representatives this time with mansion And to me, there 424 00:25:28,680 --> 00:25:31,320 Speaker 1: there might be an opening because you've got Democrats in 425 00:25:31,359 --> 00:25:35,399 Speaker 1: control of the House, Leader McConnell, who is staring down 426 00:25:36,160 --> 00:25:39,320 Speaker 1: the mid term makeup. So who knows, I mean, who 427 00:25:39,320 --> 00:25:40,600 Speaker 1: knows where it's gonna come. I want to play a 428 00:25:40,640 --> 00:25:43,040 Speaker 1: little bit more from President Trump when he had to 429 00:25:43,040 --> 00:25:45,080 Speaker 1: say about the Internet. Take a listen to what President 430 00:25:45,080 --> 00:25:47,720 Speaker 1: Trump had to say about the Internet and its impact 431 00:25:47,760 --> 00:25:51,919 Speaker 1: on culture. Uh, I'm not sure serious. We must recognize 432 00:25:52,000 --> 00:25:56,840 Speaker 1: that the Internet has provided a dangerous avenue to radicalize 433 00:25:56,960 --> 00:26:02,080 Speaker 1: disturbed minds and perform the men did X. We must 434 00:26:02,080 --> 00:26:06,080 Speaker 1: shine light on the dark recesses of the Internet and 435 00:26:06,160 --> 00:26:10,680 Speaker 1: stop mass murders before they start. That was President Trump 436 00:26:10,800 --> 00:26:15,440 Speaker 1: speaking earlier today. Coming up, Housing Secretary Ben Carson calls 437 00:26:15,440 --> 00:26:19,119 Speaker 1: in to give us the administration's strategy in terms of 438 00:26:19,119 --> 00:26:22,159 Speaker 1: how to address this. And just to note, Michael Bloomberg, 439 00:26:22,160 --> 00:26:25,600 Speaker 1: owner of Bloomberg LP, the parent company of Bloomberg News, 440 00:26:25,920 --> 00:26:29,480 Speaker 1: founded and helps fund every Town for Gun Safety, a 441 00:26:29,520 --> 00:26:33,760 Speaker 1: nonprofit that advocates for universal background checks and other gun 442 00:26:33,960 --> 00:26:38,199 Speaker 1: violence prevention measures. You can load the Bloomberg Sound On 443 00:26:38,320 --> 00:26:41,960 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by 444 00:26:42,000 --> 00:26:44,679 Speaker 1: downloading the Bloomberg Business app. You can find us on 445 00:26:44,800 --> 00:26:49,320 Speaker 1: Radio dot com, I Heart Radio, and Spotify. I'm Kevin Cirelli, Washington, 446 00:26:49,359 --> 00:26:52,840 Speaker 1: correspondent for Bloomberg Television and Bloomberg Radio, and you are 447 00:26:52,880 --> 00:27:02,359 Speaker 1: listening to Bloomberg. This is Bloomberg Sound On with Kevin 448 00:27:02,359 --> 00:27:06,600 Speaker 1: Shirley on Bloomberg and one oh five point seven f 449 00:27:06,720 --> 00:27:09,840 Speaker 1: M H D two. It is incumbent upon all of us. 450 00:27:09,880 --> 00:27:13,000 Speaker 1: I don't care about your party affiliation or any other difference, 451 00:27:13,000 --> 00:27:16,400 Speaker 1: to stand up against this and stand for the best 452 00:27:16,440 --> 00:27:20,159 Speaker 1: traditions and interests of this country. That was former Congressman 453 00:27:20,200 --> 00:27:24,480 Speaker 1: Fedo O'Rourke speaking earlier today to reporters outside of the walmart. 454 00:27:24,920 --> 00:27:29,320 Speaker 1: We're more than twenty people were gunned down on Saturday. Uh, 455 00:27:29,400 --> 00:27:32,520 Speaker 1: former congressman of work as a Democratic presidential candidate. He 456 00:27:32,600 --> 00:27:35,000 Speaker 1: was born and raised in El Paso. Joining us on 457 00:27:35,040 --> 00:27:38,679 Speaker 1: the telephone line. Housing Secretary Ben Carson, who was at 458 00:27:38,680 --> 00:27:42,880 Speaker 1: the White House earlier today to meet with President Trump, 459 00:27:42,920 --> 00:27:45,840 Speaker 1: who gave remarks in which he called for there to 460 00:27:45,880 --> 00:27:52,960 Speaker 1: be bipartisan solutions two the gunsmash shooting epidemic that is 461 00:27:53,040 --> 00:27:56,840 Speaker 1: running rampant through our country. Mr Secretary, thank you for 462 00:27:56,920 --> 00:28:00,520 Speaker 1: calling in. How are we going to solve this problem? Well, 463 00:28:00,560 --> 00:28:02,399 Speaker 1: you know, we're only going to be able to solve 464 00:28:02,440 --> 00:28:06,119 Speaker 1: this if we decide that this is more important to 465 00:28:06,200 --> 00:28:10,800 Speaker 1: solve than gaining political points. And uh, you know, we 466 00:28:10,840 --> 00:28:13,760 Speaker 1: need to recognize that there's something deep going on here. 467 00:28:13,880 --> 00:28:16,640 Speaker 1: Is not just a matter of guns being available. Guns 468 00:28:16,640 --> 00:28:20,240 Speaker 1: have been available for hundreds of years. Uh, it's what's 469 00:28:20,280 --> 00:28:23,760 Speaker 1: happening to us as a nation. Where are we now 470 00:28:24,000 --> 00:28:28,879 Speaker 1: getting our moral compass from and you know, we're an 471 00:28:28,880 --> 00:28:31,439 Speaker 1: the plisso of throwing out a lot of our beliefs 472 00:28:32,000 --> 00:28:35,399 Speaker 1: and just sort of floating. And then you also have 473 00:28:35,520 --> 00:28:39,240 Speaker 1: a situation, I think where a lot of people don't 474 00:28:39,320 --> 00:28:42,760 Speaker 1: develop deep relationships with other people anymore. There they've spent 475 00:28:42,880 --> 00:28:46,720 Speaker 1: so much time on social media. So we're going to 476 00:28:46,800 --> 00:28:49,400 Speaker 1: have to start being able to talk about these things 477 00:28:49,440 --> 00:28:54,120 Speaker 1: without them being taboo. Uh as far as PC is concerned, 478 00:28:54,360 --> 00:28:58,160 Speaker 1: Housing Secretary Ben Harson joining us on the line, Mr Secretary, 479 00:28:58,200 --> 00:29:03,280 Speaker 1: you mentioned social media. The President also alluding to social media, 480 00:29:03,360 --> 00:29:07,560 Speaker 1: saying that social media companies have a responsibility to better 481 00:29:08,720 --> 00:29:12,600 Speaker 1: to better flag and to monitor uh these types of 482 00:29:12,720 --> 00:29:18,600 Speaker 1: postings that could ultimately tip off investigators into potential massacres. 483 00:29:19,080 --> 00:29:22,680 Speaker 1: What role do big what role does big tech play 484 00:29:23,080 --> 00:29:27,080 Speaker 1: in terms of monitoring these types of risks? But I 485 00:29:27,120 --> 00:29:31,360 Speaker 1: think you know, big tech has to uh be willing 486 00:29:31,680 --> 00:29:35,240 Speaker 1: to look at the data and not just to ignore 487 00:29:35,240 --> 00:29:41,400 Speaker 1: it and recognize that so many of these shooters have 488 00:29:41,960 --> 00:29:48,080 Speaker 1: obviously posted things on the internet, have derived some of 489 00:29:48,080 --> 00:29:52,520 Speaker 1: their relationships on the internet. Uh. And and that's part 490 00:29:52,560 --> 00:29:54,920 Speaker 1: of the problem that I was talking about before, when 491 00:29:54,920 --> 00:29:59,880 Speaker 1: we substitute real human to human relationships with these art 492 00:30:00,040 --> 00:30:06,400 Speaker 1: ficial relationships through electronic means. It kind of dehumanizes other people. 493 00:30:06,800 --> 00:30:10,160 Speaker 1: And when you dehumanize people, makes it much easier for 494 00:30:10,200 --> 00:30:14,560 Speaker 1: you to see them as things and therefore to shoot them. 495 00:30:14,720 --> 00:30:17,320 Speaker 1: In terms of the congressional fix, is there a role 496 00:30:17,360 --> 00:30:21,400 Speaker 1: for Congress to to pass bipartisan legislation as it relates 497 00:30:21,440 --> 00:30:24,000 Speaker 1: to big tech or as Senator Lindsey Graham and Richard 498 00:30:24,040 --> 00:30:29,000 Speaker 1: Blumenthal announcing earlier today a bipartisan bill in getting states 499 00:30:29,040 --> 00:30:32,640 Speaker 1: to adopt red flag laws that Senator Graham says would 500 00:30:32,640 --> 00:30:36,080 Speaker 1: help assist and encourage states to get them grants so 501 00:30:36,120 --> 00:30:39,680 Speaker 1: that they can hire a consult with mental health professionals. 502 00:30:40,080 --> 00:30:43,560 Speaker 1: I think that would be extraordinarily useful. And this is 503 00:30:43,560 --> 00:30:46,760 Speaker 1: a time, you know, at the tragic time, and you know, 504 00:30:46,840 --> 00:30:49,400 Speaker 1: our hearts obviously go out to those families and these 505 00:30:49,440 --> 00:30:52,920 Speaker 1: that have been effected. But let's let this go to waste. 506 00:30:53,480 --> 00:30:57,120 Speaker 1: You know, red flag laws I think are very appropriate 507 00:30:57,200 --> 00:30:59,600 Speaker 1: at this point in time. You know, we need to 508 00:30:59,680 --> 00:31:02,960 Speaker 1: keep in mind that the Second Amendment is an important 509 00:31:03,040 --> 00:31:06,880 Speaker 1: part of who we are as Americans, but also compassion 510 00:31:07,400 --> 00:31:10,400 Speaker 1: and real caring about what's going on with our people 511 00:31:10,400 --> 00:31:14,960 Speaker 1: and being able to identify things before tragedies occur is 512 00:31:15,040 --> 00:31:17,280 Speaker 1: something that smart people do. You know, I want to 513 00:31:17,320 --> 00:31:20,440 Speaker 1: pick up on that point, Housing Secretary Ben Carson joining 514 00:31:20,560 --> 00:31:22,600 Speaker 1: us on the line. There are folks who are in 515 00:31:22,640 --> 00:31:25,640 Speaker 1: their car driving home from work as we speak, who 516 00:31:25,960 --> 00:31:29,440 Speaker 1: who respect the Second Amendment but have deep concerns about 517 00:31:29,440 --> 00:31:32,680 Speaker 1: the role that the n r A has played in 518 00:31:32,800 --> 00:31:36,440 Speaker 1: this debate. What do you say to those people? Well, 519 00:31:36,480 --> 00:31:39,400 Speaker 1: I mean, obviously we want to hear all the voices, 520 00:31:39,440 --> 00:31:44,200 Speaker 1: but you know, we don't really want extreme voices on 521 00:31:44,280 --> 00:31:47,680 Speaker 1: the side of this issue. And there there is a 522 00:31:47,720 --> 00:31:50,640 Speaker 1: place in our country still for logic and common sense, 523 00:31:51,440 --> 00:31:55,240 Speaker 1: and you know, this is one of those places. No one, 524 00:31:55,960 --> 00:32:00,000 Speaker 1: I think any on either side I'll wants to see 525 00:32:00,240 --> 00:32:05,800 Speaker 1: the Second Amendment removed, but we also want to be 526 00:32:06,000 --> 00:32:09,680 Speaker 1: smart enough to say, are there things that we can 527 00:32:09,720 --> 00:32:13,920 Speaker 1: be doing in terms of background checks, In terms of 528 00:32:13,960 --> 00:32:19,440 Speaker 1: putting information in a secure place where the police and 529 00:32:19,880 --> 00:32:22,640 Speaker 1: you know, someone who is a gun dealer can't access 530 00:32:22,760 --> 00:32:27,400 Speaker 1: that information before they put the guns into the hands 531 00:32:27,440 --> 00:32:30,360 Speaker 1: of the individual. We could this is something that we 532 00:32:30,400 --> 00:32:33,080 Speaker 1: can do. There are hippo laws right now, but those 533 00:32:33,160 --> 00:32:38,120 Speaker 1: hippo laws can be modified by Congress Housing Secretary Ben Carson. 534 00:32:38,200 --> 00:32:40,400 Speaker 1: We've got less than a minute left. You know you 535 00:32:40,520 --> 00:32:45,120 Speaker 1: previously being a brain surgeon. Doctors don't fight over which 536 00:32:45,200 --> 00:32:50,040 Speaker 1: doctor has the better cure. So why are politicians on 537 00:32:50,080 --> 00:32:52,600 Speaker 1: either side fighting over how to get rid of this 538 00:32:52,760 --> 00:32:57,200 Speaker 1: epidemic in our country? Because they see it as a 539 00:32:57,320 --> 00:33:01,320 Speaker 1: juicy political issue that might get them some more votes 540 00:33:01,320 --> 00:33:05,560 Speaker 1: and some more power. And quite frankly, that to me 541 00:33:05,720 --> 00:33:09,880 Speaker 1: is the saddest part of working in this town. Housing 542 00:33:09,920 --> 00:33:13,480 Speaker 1: secret Housing Secretary Ben Cars appreciate you calling in to 543 00:33:13,600 --> 00:33:18,280 Speaker 1: discuss these topics and more and breaking news. Redhead flashing 544 00:33:18,320 --> 00:33:21,800 Speaker 1: on the Bloomberg terminal as we speak. The Treasury Department 545 00:33:21,840 --> 00:33:26,840 Speaker 1: has designated China as a currency manipulator. Again, the Treasury 546 00:33:26,880 --> 00:33:31,080 Speaker 1: Department has designated China as a currency manipulator. We will 547 00:33:31,120 --> 00:33:33,840 Speaker 1: have walls of wall coverage of this and all other 548 00:33:34,000 --> 00:33:37,520 Speaker 1: topics on Bloomberg Television and Bloomberg Radio. My thanks to 549 00:33:37,560 --> 00:33:40,960 Speaker 1: Housing Secretary Ben Carson, as well as to Roger Fisk 550 00:33:41,360 --> 00:33:44,240 Speaker 1: and to Terry Sullivan. You can download the sounds on 551 00:33:44,360 --> 00:33:47,320 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by 552 00:33:47,320 --> 00:33:49,840 Speaker 1: downloading the Bloomberg Business app. You can also find us 553 00:33:49,840 --> 00:33:52,760 Speaker 1: on Radio dot Com, I Heart Radio, and Spotify. And 554 00:33:52,800 --> 00:33:55,760 Speaker 1: a reminder that Michael Bloomberg, owner of Bloomberg LP, the 555 00:33:55,800 --> 00:33:59,360 Speaker 1: parent company of Bloomberg News, founded and helps fund every 556 00:33:59,400 --> 00:34:03,120 Speaker 1: Town for Gun Safety, a nonprofit that advocates for universal 557 00:34:03,120 --> 00:34:07,680 Speaker 1: background checks and other gun violence prevention measures. I'm Kevin Cirelli, 558 00:34:07,920 --> 00:34:11,279 Speaker 1: Chief Washington correspondent for Bloomberg TV and Bloomberg Radio. You're 559 00:34:11,320 --> 00:34:12,320 Speaker 1: listening to Bloomberg