1 00:00:01,560 --> 00:00:05,000 Speaker 1: You're listening to Taking Stock with Pim Box and Kathleen 2 00:00:05,080 --> 00:00:10,560 Speaker 1: Hayes on Bloomberg Radio. The United Kingdom has voted to 3 00:00:10,920 --> 00:00:15,320 Speaker 1: leave the European Union, but the president, President Obama says 4 00:00:15,400 --> 00:00:18,400 Speaker 1: that the United States and the UK have an enduring 5 00:00:18,720 --> 00:00:23,160 Speaker 1: special relationship even after Brexit. Here to help us understand 6 00:00:23,200 --> 00:00:25,680 Speaker 1: more about the relationship between the United Kingdom and the 7 00:00:25,760 --> 00:00:29,400 Speaker 1: United States politically is Ed Rendell. He is a former 8 00:00:29,440 --> 00:00:33,800 Speaker 1: Pennsylvania governor and Democratic National Committee chairman. He joins us 9 00:00:33,880 --> 00:00:38,440 Speaker 1: from Washington, d C. Home to Bloomberg. Governor Rendell, thank 10 00:00:38,479 --> 00:00:42,879 Speaker 1: you very much for being with us UH today. President 11 00:00:43,320 --> 00:00:48,159 Speaker 1: Barack Obama spoke about the vote for Brexit, and he 12 00:00:48,240 --> 00:00:51,279 Speaker 1: said that it speaks to the ongoing changes and challenges 13 00:00:51,320 --> 00:00:55,520 Speaker 1: that are raised by globalization. Do you think that that 14 00:00:55,640 --> 00:00:59,680 Speaker 1: is what this vote was about. I mean, you know, 15 00:00:59,720 --> 00:01:01,520 Speaker 1: when you get a vote on a referendum, just like 16 00:01:01,560 --> 00:01:05,840 Speaker 1: a vote in the presidential election, they are usually complex 17 00:01:06,680 --> 00:01:09,759 Speaker 1: number of things that motivate voters. I think that's part 18 00:01:09,760 --> 00:01:14,640 Speaker 1: of it. Globalization, trade, immigration certainly played a role in 19 00:01:15,600 --> 00:01:20,280 Speaker 1: the Brexit vote, so did just general frustration about the 20 00:01:20,920 --> 00:01:24,600 Speaker 1: overall pace of the world's economy. Even though Ironically, that's 21 00:01:24,720 --> 00:01:28,039 Speaker 1: manifested itself at the polls in the US and and 22 00:01:28,200 --> 00:01:31,679 Speaker 1: the UK, and they're probably the two healthiest economies in 23 00:01:31,720 --> 00:01:34,640 Speaker 1: the in the world today. But still that frustration is 24 00:01:34,680 --> 00:01:38,840 Speaker 1: there there among ordinary people and and I think they 25 00:01:39,040 --> 00:01:43,000 Speaker 1: that was one of the motivating factors that caused the vote. Well, 26 00:01:43,000 --> 00:01:45,640 Speaker 1: so do you ever get the sense that that's motivating 27 00:01:45,680 --> 00:01:49,000 Speaker 1: the people who were in the vote to exit are 28 00:01:49,080 --> 00:01:53,280 Speaker 1: similar votes like this is they feel like someone can say, oh, 29 00:01:53,280 --> 00:01:56,480 Speaker 1: it's frustration about globalization. These people are just frustrated. They 30 00:01:56,480 --> 00:01:58,720 Speaker 1: don't really know that globalization is good for them. And 31 00:01:58,720 --> 00:02:00,440 Speaker 1: I'm not picking on the president because lot of people 32 00:02:00,480 --> 00:02:03,800 Speaker 1: say this and they feel like, no, it's not. Globalization 33 00:02:03,840 --> 00:02:05,559 Speaker 1: hasn't helped me. You don't know what you're talking about. 34 00:02:05,600 --> 00:02:07,120 Speaker 1: And that's why I'm going to vote to leave. That's 35 00:02:07,120 --> 00:02:09,800 Speaker 1: Why'm gonna vote for Donald Trump or Bernie Sanders. Yeah, 36 00:02:09,840 --> 00:02:11,960 Speaker 1: I think there's something to do that. I mean, there's 37 00:02:12,480 --> 00:02:15,519 Speaker 1: a little bit of isolation as tends to the frustration 38 00:02:15,600 --> 00:02:18,680 Speaker 1: and the anger. And why should we trade with countries 39 00:02:18,720 --> 00:02:22,120 Speaker 1: that pay their workers far less than we do. Why 40 00:02:22,160 --> 00:02:25,760 Speaker 1: don't we just you know, not have trade and keep 41 00:02:25,800 --> 00:02:30,000 Speaker 1: everything in the United states, Why don't we outsourced, steal, etcetera, etcetera, 42 00:02:30,080 --> 00:02:35,600 Speaker 1: all those things, Governor Rendell. According to the Polls sixties, 43 00:02:35,680 --> 00:02:38,639 Speaker 1: this is the UK polls for the Brexit votes. Of 44 00:02:38,680 --> 00:02:42,680 Speaker 1: people who left school at age sixteen voted to leave. 45 00:02:44,680 --> 00:02:50,000 Speaker 1: Cent of those with university degrees voted to remain. Can 46 00:02:50,040 --> 00:02:54,919 Speaker 1: we draw any similarities between that vote and what might 47 00:02:55,000 --> 00:02:59,000 Speaker 1: happen in November? Sure? I mean Donald Trump's even throughout 48 00:02:59,000 --> 00:03:04,720 Speaker 1: the Republican primary, Donald Trump's best demographic was people with 49 00:03:06,240 --> 00:03:09,480 Speaker 1: less than high school diploma. That he did by far 50 00:03:09,560 --> 00:03:14,320 Speaker 1: the best. He dominated that demographic. So what's the implication 51 00:03:14,360 --> 00:03:16,920 Speaker 1: of that? Is that those people are the most frustrated, 52 00:03:16,960 --> 00:03:19,080 Speaker 1: There's no question about it. And are but again, our 53 00:03:19,120 --> 00:03:23,120 Speaker 1: elected officials in many countries not paying enough attention to 54 00:03:23,160 --> 00:03:25,760 Speaker 1: their frustration. Are they not really getting it? I think 55 00:03:25,800 --> 00:03:27,720 Speaker 1: that's what this seems to me, that that's what a 56 00:03:27,760 --> 00:03:31,560 Speaker 1: lot of these people are saying with their votes. Well, 57 00:03:31,600 --> 00:03:34,480 Speaker 1: I think that's right. I think that's right. Although you 58 00:03:34,520 --> 00:03:40,280 Speaker 1: can say that the people tend when they get frustrated, 59 00:03:40,320 --> 00:03:43,720 Speaker 1: that did not listen very much. So I would say 60 00:03:43,760 --> 00:03:47,560 Speaker 1: that's an unemployed let's just say an unemployed factory worker. 61 00:03:48,040 --> 00:03:51,080 Speaker 1: If if I was talking to him in America, I'd say, look, 62 00:03:51,480 --> 00:03:54,000 Speaker 1: it was the Democrats that wanted to keep extending your 63 00:03:54,040 --> 00:03:57,440 Speaker 1: unemployment cop. We wanted to keep extending and because of 64 00:03:58,120 --> 00:04:01,000 Speaker 1: the slow recovery, we wanted to cover you way past 65 00:04:01,040 --> 00:04:04,400 Speaker 1: the normal amount of weeks. But the Republicans voted no, 66 00:04:05,160 --> 00:04:07,880 Speaker 1: they don't get it. We did get it. We're the 67 00:04:07,880 --> 00:04:10,360 Speaker 1: ones who want to raise the minimum wage. They don't 68 00:04:10,360 --> 00:04:13,560 Speaker 1: get it. We do get it, all right. So if 69 00:04:13,600 --> 00:04:18,880 Speaker 1: they get it, then will the Democrats in the November election, 70 00:04:19,560 --> 00:04:23,920 Speaker 1: will they position themselves to support what some are calling 71 00:04:24,120 --> 00:04:28,159 Speaker 1: increased desire for independence and sovereignty or will it be 72 00:04:28,240 --> 00:04:32,279 Speaker 1: more of an economic argument. I think in this country 73 00:04:32,279 --> 00:04:34,880 Speaker 1: it's more of an economic argument. I don't think we've 74 00:04:34,880 --> 00:04:38,839 Speaker 1: got this the same independence a sovereignty. Although one of 75 00:04:38,880 --> 00:04:45,000 Speaker 1: the curious things about the UK election the referendum was 76 00:04:45,120 --> 00:04:50,520 Speaker 1: Scotland and Northern Ireland, where there's a great uh emotion 77 00:04:50,680 --> 00:04:54,640 Speaker 1: behind independence, they voted to remain, and they voted fairly 78 00:04:54,680 --> 00:05:00,920 Speaker 1: significantly to remain. So stepping onto the presidential race a 79 00:05:00,960 --> 00:05:06,120 Speaker 1: little more specifically, what to you are the biggest issues 80 00:05:06,400 --> 00:05:13,240 Speaker 1: right now? You recently, in fact, just yesterday, you we're 81 00:05:13,279 --> 00:05:17,599 Speaker 1: throwing cold water on Donald Trump's speech where he attacked 82 00:05:17,800 --> 00:05:22,039 Speaker 1: Hillary Clinton, saying she was a world class liar, etcetera. 83 00:05:22,320 --> 00:05:25,120 Speaker 1: You say voters aren't are unlikely to be swayed. Is 84 00:05:25,120 --> 00:05:28,279 Speaker 1: that just voters who are for Hillary will it? Will 85 00:05:28,320 --> 00:05:31,279 Speaker 1: it as opposed to that, you know, the ones that 86 00:05:31,279 --> 00:05:35,240 Speaker 1: are for Donald Trump, and they'll go along with it. Absolutely. 87 00:05:35,279 --> 00:05:37,840 Speaker 1: The only voters that that type of rhetoric appeals to 88 00:05:37,960 --> 00:05:39,520 Speaker 1: are the ones that Donald Trump is going to get 89 00:05:39,880 --> 00:05:42,920 Speaker 1: the program and supposed no matter what. So I'm not 90 00:05:42,960 --> 00:05:45,520 Speaker 1: sure it's a wise line of attack. Why do you 91 00:05:45,520 --> 00:05:47,320 Speaker 1: say that's the only person that appeals to, the only 92 00:05:47,360 --> 00:05:51,520 Speaker 1: kind of person appeals to. Of course, there's charges that 93 00:05:51,600 --> 00:05:54,960 Speaker 1: he's leveled against Hillary Clinton have basically been levels for 94 00:05:55,000 --> 00:05:57,559 Speaker 1: the past two years, the past six years, the best 95 00:05:57,560 --> 00:06:01,440 Speaker 1: ten years, the past twenty years. I mean, at this point, 96 00:06:01,839 --> 00:06:05,799 Speaker 1: what people are looking for two things. And in presidential 97 00:06:05,880 --> 00:06:09,040 Speaker 1: elections and in governor's elections and in mayor's elections, when 98 00:06:09,080 --> 00:06:12,800 Speaker 1: we're electing an executive as opposed to a senator or 99 00:06:12,800 --> 00:06:16,280 Speaker 1: a congressman or a councilman. When we're voting for an executive, 100 00:06:16,680 --> 00:06:20,760 Speaker 1: people looking for leadership qualities. Is the person strong. Does 101 00:06:20,800 --> 00:06:23,000 Speaker 1: the person know the subject matter that he or she 102 00:06:23,080 --> 00:06:25,599 Speaker 1: has to deal with, do they have good ideas that 103 00:06:25,640 --> 00:06:30,960 Speaker 1: they articulated well, etcetera, etcetera, etcetera. So their personal characteristics. 104 00:06:31,440 --> 00:06:34,919 Speaker 1: And I think when you look at those things and 105 00:06:34,960 --> 00:06:37,640 Speaker 1: look at what's happened in the last month, Hillary Clinton 106 00:06:37,720 --> 00:06:40,760 Speaker 1: score is much more highly than Donald Trump. That's number one, 107 00:06:41,480 --> 00:06:45,200 Speaker 1: and then number two. They look at what plans they have. 108 00:06:45,360 --> 00:06:50,200 Speaker 1: So I'm a let's say I'm a sheet metal worker 109 00:06:50,680 --> 00:06:53,560 Speaker 1: and I have been out of work fifty of the 110 00:06:53,600 --> 00:06:56,320 Speaker 1: time for the last four years. So I'm looking for 111 00:06:56,360 --> 00:06:59,440 Speaker 1: someone who has plans to bring back American manufacturing and 112 00:06:59,520 --> 00:07:04,880 Speaker 1: American infrastructure. And I'm listening carefully to what they say. 113 00:07:05,040 --> 00:07:07,880 Speaker 1: And Donald Trump got away with during the primary to 114 00:07:07,920 --> 00:07:11,120 Speaker 1: say I've got a plan, I'll make good deals, etcetera, 115 00:07:11,240 --> 00:07:13,920 Speaker 1: I know how to deal with the Chinese, etcetera. Now 116 00:07:13,920 --> 00:07:16,680 Speaker 1: it's time for him to show some specifics to put 117 00:07:16,720 --> 00:07:19,160 Speaker 1: meat on the bones. That are only two candidates, so 118 00:07:19,240 --> 00:07:22,200 Speaker 1: people can focus on what they say and what their 119 00:07:22,200 --> 00:07:24,720 Speaker 1: plans are. And I think if Donald Trump is going 120 00:07:24,800 --> 00:07:27,800 Speaker 1: to be competitive, he's got to say more than I 121 00:07:27,840 --> 00:07:30,720 Speaker 1: can make good deals on that and negotiate i'd had 122 00:07:30,720 --> 00:07:35,200 Speaker 1: a great jobs Okay, tell us how in fairness, Hillary Clinton, 123 00:07:35,280 --> 00:07:39,080 Speaker 1: she's rolled out very specific people would say almost two 124 00:07:39,080 --> 00:07:44,520 Speaker 1: wonky plans for the rebuilding the American infrastructure, for revitalizing 125 00:07:44,520 --> 00:07:48,160 Speaker 1: the American manufacturing, for things like that. So I think 126 00:07:48,200 --> 00:07:50,960 Speaker 1: those are the two basic areas that are going to 127 00:07:51,000 --> 00:07:55,880 Speaker 1: decide the election, Governor Rendell. Just to continue on the theme, 128 00:07:55,920 --> 00:07:59,520 Speaker 1: I know that Donald Trump was visiting a golf course 129 00:07:59,560 --> 00:08:03,320 Speaker 1: in scott Outland, and he came out with a response 130 00:08:03,360 --> 00:08:05,080 Speaker 1: to the Brexit vote. He said, I think it's a 131 00:08:05,120 --> 00:08:08,200 Speaker 1: great thing. I think it's a fantastic thing. And he 132 00:08:08,280 --> 00:08:10,840 Speaker 1: also talked about the breakup of the European Union looking 133 00:08:10,880 --> 00:08:14,880 Speaker 1: like it's on its way. Do you believe that there 134 00:08:15,040 --> 00:08:18,280 Speaker 1: is an anti immigration, a wave of populism that can 135 00:08:18,360 --> 00:08:21,880 Speaker 1: sweep from Britain out of Europe to the United States 136 00:08:21,960 --> 00:08:25,800 Speaker 1: that would influence our presidential election. Well, remember there's a 137 00:08:25,920 --> 00:08:29,680 Speaker 1: huge difference in the geographics of the UK and the US. 138 00:08:30,280 --> 00:08:34,320 Speaker 1: In the UK, people are pretty much home genius. That's 139 00:08:34,320 --> 00:08:36,880 Speaker 1: not so in the United States, where minorities make up 140 00:08:38,200 --> 00:08:42,760 Speaker 1: of our population. Uh So right away, that that's that's 141 00:08:42,559 --> 00:08:47,520 Speaker 1: that's a significant difference. Uh And again Interestingly, the people 142 00:08:47,520 --> 00:08:51,400 Speaker 1: who are on the fringes in Scotland and Northern Ireland 143 00:08:51,600 --> 00:08:56,920 Speaker 1: voted germane. It's really tough to beg to vote on 144 00:08:56,920 --> 00:09:01,880 Speaker 1: one specific thing other than overall frustration, and frustration has 145 00:09:01,920 --> 00:09:07,400 Speaker 1: manifested itself in the American election on the Democratic side 146 00:09:07,520 --> 00:09:11,200 Speaker 1: for the Bernie Sanders vote on the Republican side with 147 00:09:11,280 --> 00:09:15,199 Speaker 1: the Donald Trump. Well, Governor Rendell, thank you so much 148 00:09:15,240 --> 00:09:16,880 Speaker 1: for joining us. I hope you will return to the 149 00:09:16,920 --> 00:09:18,959 Speaker 1: show soon. These issues are so important and you are 150 00:09:19,000 --> 00:09:21,040 Speaker 1: so well placed to discuss them with us. Will you 151 00:09:21,120 --> 00:09:26,959 Speaker 1: come back. It is complex and it's almost always impossible 152 00:09:27,000 --> 00:09:31,080 Speaker 1: to poll a referendum. Those are much more accurate on 153 00:09:31,760 --> 00:09:35,920 Speaker 1: contest than they are referendums. Edmundell Forward, Pennsylvania Governor and 154 00:09:36,080 --> 00:09:40,240 Speaker 1: Democratic National Committee Chairman, joining us from Washington, d C. 155 00:09:40,480 --> 00:09:43,480 Speaker 1: We thank you for joining us on our extended coverage 156 00:09:43,600 --> 00:09:47,360 Speaker 1: of the bregsit vote. Special edition of Surveillance tomorrow morning 157 00:09:47,440 --> 00:09:51,240 Speaker 1: from seven am to ten am with Michael McKee and 158 00:09:51,240 --> 00:09:54,280 Speaker 1: Tom Keane. I'm Kathleen Haeselam with pin Fox. This is 159 00:09:54,320 --> 00:09:55,839 Speaker 1: taking Stock on Bloomberg Radio.