Speaker 1: You're listening to Taking Stock with Pim Box and Kathleen
Speaker 1: Hayes on Bloomberg Radio. The United Kingdom has voted to
Speaker 1: leave the European Union, but the president, President Obama says
Speaker 1: that the United States and the UK have an enduring
Speaker 1: special relationship even after Brexit. Here to help us understand
Speaker 1: more about the relationship between the United Kingdom and the
Speaker 1: United States politically is Ed Rendell. He is a former
Speaker 1: Pennsylvania governor and Democratic National Committee chairman. He joins us
Speaker 1: from Washington, d C. Home to Bloomberg. Governor Rendell, thank
Speaker 1: you very much for being with us UH today. President
Speaker 1: Barack Obama spoke about the vote for Brexit, and he
Speaker 1: said that it speaks to the ongoing changes and challenges
Speaker 1: that are raised by globalization. Do you think that that
Speaker 1: is what this vote was about. I mean, you know,
Speaker 1: when you get a vote on a referendum, just like
Speaker 1: a vote in the presidential election, they are usually complex
Speaker 1: number of things that motivate voters. I think that's part
Speaker 1: of it. Globalization, trade, immigration certainly played a role in
Speaker 1: the Brexit vote, so did just general frustration about the
Speaker 1: overall pace of the world's economy. Even though Ironically, that's
Speaker 1: manifested itself at the polls in the US and and
Speaker 1: the UK, and they're probably the two healthiest economies in
Speaker 1: the in the world today. But still that frustration is
Speaker 1: there there among ordinary people and and I think they
Speaker 1: that was one of the motivating factors that caused the vote. Well,
Speaker 1: so do you ever get the sense that that's motivating
Speaker 1: the people who were in the vote to exit are
Speaker 1: similar votes like this is they feel like someone can say, oh,
Speaker 1: it's frustration about globalization. These people are just frustrated. They
Speaker 1: don't really know that globalization is good for them. And
Speaker 1: I'm not picking on the president because lot of people
Speaker 1: say this and they feel like, no, it's not. Globalization
Speaker 1: hasn't helped me. You don't know what you're talking about.
Speaker 1: And that's why I'm going to vote to leave. That's
Speaker 1: Why'm gonna vote for Donald Trump or Bernie Sanders. Yeah,
Speaker 1: I think there's something to do that. I mean, there's
Speaker 1: a little bit of isolation as tends to the frustration
Speaker 1: and the anger. And why should we trade with countries
Speaker 1: that pay their workers far less than we do. Why
Speaker 1: don't we just you know, not have trade and keep
Speaker 1: everything in the United states, Why don't we outsourced, steal, etcetera, etcetera,
Speaker 1: all those things, Governor Rendell. According to the Polls sixties,
Speaker 1: this is the UK polls for the Brexit votes. Of
Speaker 1: people who left school at age sixteen voted to leave.
Speaker 1: Cent of those with university degrees voted to remain. Can
Speaker 1: we draw any similarities between that vote and what might
Speaker 1: happen in November? Sure? I mean Donald Trump's even throughout
Speaker 1: the Republican primary, Donald Trump's best demographic was people with
Speaker 1: less than high school diploma. That he did by far
Speaker 1: the best. He dominated that demographic. So what's the implication
Speaker 1: of that? Is that those people are the most frustrated,
Speaker 1: There's no question about it. And are but again, our
Speaker 1: elected officials in many countries not paying enough attention to
Speaker 1: their frustration. Are they not really getting it? I think
Speaker 1: that's what this seems to me, that that's what a
Speaker 1: lot of these people are saying with their votes. Well,
Speaker 1: I think that's right. I think that's right. Although you
Speaker 1: can say that the people tend when they get frustrated,
Speaker 1: that did not listen very much. So I would say
Speaker 1: that's an unemployed let's just say an unemployed factory worker.
Speaker 1: If if I was talking to him in America, I'd say, look,
Speaker 1: it was the Democrats that wanted to keep extending your
Speaker 1: unemployment cop. We wanted to keep extending and because of
Speaker 1: the slow recovery, we wanted to cover you way past
Speaker 1: the normal amount of weeks. But the Republicans voted no,
Speaker 1: they don't get it. We did get it. We're the
Speaker 1: ones who want to raise the minimum wage. They don't
Speaker 1: get it. We do get it, all right. So if
Speaker 1: they get it, then will the Democrats in the November election,
Speaker 1: will they position themselves to support what some are calling
Speaker 1: increased desire for independence and sovereignty or will it be
Speaker 1: more of an economic argument. I think in this country
Speaker 1: it's more of an economic argument. I don't think we've
Speaker 1: got this the same independence a sovereignty. Although one of
Speaker 1: the curious things about the UK election the referendum was
Speaker 1: Scotland and Northern Ireland, where there's a great uh emotion
Speaker 1: behind independence, they voted to remain, and they voted fairly
Speaker 1: significantly to remain. So stepping onto the presidential race a
Speaker 1: little more specifically, what to you are the biggest issues
Speaker 1: right now? You recently, in fact, just yesterday, you we're
Speaker 1: throwing cold water on Donald Trump's speech where he attacked
Speaker 1: Hillary Clinton, saying she was a world class liar, etcetera.
Speaker 1: You say voters aren't are unlikely to be swayed. Is
Speaker 1: that just voters who are for Hillary will it? Will
Speaker 1: it as opposed to that, you know, the ones that
Speaker 1: are for Donald Trump, and they'll go along with it. Absolutely.
Speaker 1: The only voters that that type of rhetoric appeals to
Speaker 1: are the ones that Donald Trump is going to get
Speaker 1: the program and supposed no matter what. So I'm not
Speaker 1: sure it's a wise line of attack. Why do you
Speaker 1: say that's the only person that appeals to, the only
Speaker 1: kind of person appeals to. Of course, there's charges that
Speaker 1: he's leveled against Hillary Clinton have basically been levels for
Speaker 1: the past two years, the past six years, the best
Speaker 1: ten years, the past twenty years. I mean, at this point,
Speaker 1: what people are looking for two things. And in presidential
Speaker 1: elections and in governor's elections and in mayor's elections, when
Speaker 1: we're electing an executive as opposed to a senator or
Speaker 1: a congressman or a councilman. When we're voting for an executive,
Speaker 1: people looking for leadership qualities. Is the person strong. Does
Speaker 1: the person know the subject matter that he or she
Speaker 1: has to deal with, do they have good ideas that
Speaker 1: they articulated well, etcetera, etcetera, etcetera. So their personal characteristics.
Speaker 1: And I think when you look at those things and
Speaker 1: look at what's happened in the last month, Hillary Clinton
Speaker 1: score is much more highly than Donald Trump. That's number one,
Speaker 1: and then number two. They look at what plans they have.
Speaker 1: So I'm a let's say I'm a sheet metal worker
Speaker 1: and I have been out of work fifty of the
Speaker 1: time for the last four years. So I'm looking for
Speaker 1: someone who has plans to bring back American manufacturing and
Speaker 1: American infrastructure. And I'm listening carefully to what they say.
Speaker 1: And Donald Trump got away with during the primary to
Speaker 1: say I've got a plan, I'll make good deals, etcetera,
Speaker 1: I know how to deal with the Chinese, etcetera. Now
Speaker 1: it's time for him to show some specifics to put
Speaker 1: meat on the bones. That are only two candidates, so
Speaker 1: people can focus on what they say and what their
Speaker 1: plans are. And I think if Donald Trump is going
Speaker 1: to be competitive, he's got to say more than I
Speaker 1: can make good deals on that and negotiate i'd had
Speaker 1: a great jobs Okay, tell us how in fairness, Hillary Clinton,
Speaker 1: she's rolled out very specific people would say almost two
Speaker 1: wonky plans for the rebuilding the American infrastructure, for revitalizing
Speaker 1: the American manufacturing, for things like that. So I think
Speaker 1: those are the two basic areas that are going to
Speaker 1: decide the election, Governor Rendell. Just to continue on the theme,
Speaker 1: I know that Donald Trump was visiting a golf course
Speaker 1: in scott Outland, and he came out with a response
Speaker 1: to the Brexit vote. He said, I think it's a
Speaker 1: great thing. I think it's a fantastic thing. And he
Speaker 1: also talked about the breakup of the European Union looking
Speaker 1: like it's on its way. Do you believe that there
Speaker 1: is an anti immigration, a wave of populism that can
Speaker 1: sweep from Britain out of Europe to the United States
Speaker 1: that would influence our presidential election. Well, remember there's a
Speaker 1: huge difference in the geographics of the UK and the US.
Speaker 1: In the UK, people are pretty much home genius. That's
Speaker 1: not so in the United States, where minorities make up
Speaker 1: of our population. Uh So right away, that that's that's
Speaker 1: that's a significant difference. Uh And again Interestingly, the people
Speaker 1: who are on the fringes in Scotland and Northern Ireland
Speaker 1: voted germane. It's really tough to beg to vote on
Speaker 1: one specific thing other than overall frustration, and frustration has
Speaker 1: manifested itself in the American election on the Democratic side
Speaker 1: for the Bernie Sanders vote on the Republican side with
Speaker 1: the Donald Trump. Well, Governor Rendell, thank you so much
Speaker 1: for joining us. I hope you will return to the
Speaker 1: show soon. These issues are so important and you are
Speaker 1: so well placed to discuss them with us. Will you
Speaker 1: come back. It is complex and it's almost always impossible
Speaker 1: to poll a referendum. Those are much more accurate on
Speaker 1: contest than they are referendums. Edmundell Forward, Pennsylvania Governor and
Speaker 1: Democratic National Committee Chairman, joining us from Washington, d C.
Speaker 1: We thank you for joining us on our extended coverage
Speaker 1: of the bregsit vote. Special edition of Surveillance tomorrow morning
Speaker 1: from seven am to ten am with Michael McKee and
Speaker 1: Tom Keane. I'm Kathleen Haeselam with pin Fox. This is
Speaker 1: taking Stock on Bloomberg Radio.