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Speaker 1: Live from our nations. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do? From the United States relationship with China,

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Speaker 1: Bloomberg Sound on the Inside, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. You're looking at seveny Kennedys for different vectines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven m

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Speaker 1: h D two night too of the Virtual Republican National Convention,

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Speaker 1: featuring speeches from First Lady Melanie Trump as well as

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Speaker 1: Secretary of State Mike Pompeio. What will they say? What

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Speaker 1: will the reaction be? A complete preview and the latest

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Speaker 1: front coming from the U S coronavirus cases. I'm also

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Speaker 1: going to give you my exclusive interview with Donald Trump Jr.

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Speaker 1: For US Equity. These rose to all time highs for

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Speaker 1: a third day, with investors counting on the Federal Reserve

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Speaker 1: to stay accommodative as the economy recovers from the Corona virus. Pandemic,

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Speaker 1: complete economic policy, and of course political ramifications all throughout

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Speaker 1: the next ninety minutes, and we begin though with a

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Speaker 1: preview of tonight's second night of the Republican National Convention,

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Speaker 1: the Virtual Convention. Andy Puzzers on the line, senior fellow

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Speaker 1: at the Pepperdine University School of Public Policy, is the

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Speaker 1: former CEO of c k E Restaurants and the author

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Speaker 1: of Getting America Back to Work. Andy, there really couldn't

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Speaker 1: be a better person for our a block than you, sir,

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Speaker 1: since you're in the middle of all of the Republican

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Speaker 1: ideology and the economy and the markets. But let me

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Speaker 1: let me first get your your take on what you

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Speaker 1: think we're gonna hear from Secretary Pompeo and First Lady

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Speaker 1: Milania later this evening. What do you think tonight is

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Speaker 1: going to be about. It'll be a very positive message,

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Speaker 1: a very pro American message, I think, Uh, Secretary Pompeo,

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Speaker 1: we'll talk about the President's achievements overseas, which have been

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Speaker 1: remarkable and I would say remarkably underreported, but remarkable. Nonetheless,

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Speaker 1: and Malania Trump is you know, she's a very a

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Speaker 1: very empathetic figure, and she I think she'll talk about

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Speaker 1: what the president has done for America, what he's done

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Speaker 1: for American children, what he's done for American families. As

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Speaker 1: an immigrant, I think she comes with a unique perspective

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Speaker 1: and an ancestor. What she has to say, you know,

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Speaker 1: it will be interesting. And you know, earlier today I

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Speaker 1: was at the Trump Hotel, sourcing and I spoke with

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Speaker 1: Donald Trump Jr. I'll bring you that interview uh this hour,

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Speaker 1: and of course an interview with the chairwoman of the

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Speaker 1: Republican Party, Rona McDaniels. But I'm struck by this economic

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Speaker 1: debate because Andy, I was reading the journal over the weekend,

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Speaker 1: in that NBC News while student a poll that came

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Speaker 1: out as the president leading by ten percentage points on

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Speaker 1: who voters trust to handle the economy. Now, voters overall

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Speaker 1: disapprove of the president, the president's handling of the pandemic,

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Speaker 1: and he trails national polls, but he's in striking distance

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Speaker 1: in the swing states. How do you boost if your

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Speaker 1: your Republican, how do you boost his his approval rating

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Speaker 1: on the on the pandemic and try to try to

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Speaker 1: capitalize on that economic message, because that's that's everyone I talked.

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Speaker 1: He says, if Problicans are gonna do it, that's how

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Speaker 1: they're gonna do it. You know, I think on the pandemic,

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Speaker 1: and I think you'll hears some of this tonight. You'll

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Speaker 1: hear more of it as we go forward. The President's

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Speaker 1: policies have really been very effective. I think he's not

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Speaker 1: getting credit for what he did. That One remarkable thing

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Speaker 1: is that the individuals who advice he's been taking and following,

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Speaker 1: like Dr Fauci and Dr Bricks, very very high approval rating.

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Speaker 1: So the people he's been listening to, the policies he's

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Speaker 1: been he's been following, uh, have seemed to have great approval.

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Speaker 1: But I think the media's coverage of President Ump, I

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Speaker 1: don't think it's been particularly well balanced. And I think

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Speaker 1: he needs to get the message out as to what

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Speaker 1: he's done and to point out that all of the

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Speaker 1: things Joe Biden talked about that he would do if president,

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Speaker 1: other than a national mask mandate, which I'm not even

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Speaker 1: sure the president has the authority to do, but other

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Speaker 1: than that, all of the things that Biden says he

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Speaker 1: would be doing, the President has already done. And he's

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Speaker 1: got this Operation Warp Speed going to get a vaccine.

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Speaker 1: Uh So, I think he needs to get out there

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Speaker 1: and make his case and get credit for what he's

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Speaker 1: accomplished on the economy. You know, Americans, Americans, they pick

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Speaker 1: up on what this president's done economically, and I think

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Speaker 1: the poling you just mentioned in the cases. I don't

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Speaker 1: blame him for what happened with the pandemic shutdown, nor

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Speaker 1: should they blame him. It was really was a very

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Speaker 1: bipartisan shutdown. Fifty governors in fifty states shut down their economies.

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Speaker 1: They were Republicans, they were Democrats. Everybody took, to different

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Speaker 1: differing degrees a lockdown attitude at first, So they shouldn't

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Speaker 1: blame him for the economic consequences. And I'm hopefully he's

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Speaker 1: going to get credit for what's happened since the lockdown.

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Speaker 1: The economy is coming back very strong, and that people

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Speaker 1: will acknowledge that prior to the lockdown, we had more

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Speaker 1: job openings and people unemployed for twenty four months. It

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Speaker 1: had never happened for a single month under Obama or

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Speaker 1: under any previous president. Since the government began reporting that data,

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Speaker 1: wages are up over three percent for twenty months, and

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Speaker 1: people were rejoining the labor for so I think people

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Speaker 1: know what happened prior to the pandemic and that we

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Speaker 1: can get back there again. Andy, we got two minutes

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Speaker 1: left that I want to get. I want you to

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Speaker 1: get into the weeds for us. Put on your CEO

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Speaker 1: of cap for me, because they're they're still negotiating. I

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Speaker 1: guess quietly on the fiscal stimulus, what needs to be

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Speaker 1: included in the next round of stimulus, And don't just

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Speaker 1: give me the talking points. Get specific for me, because

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Speaker 1: I know you know the stuff inside it out well.

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Speaker 1: We first of all, we need to help people who

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Speaker 1: lost their jobs because of this, and we need to

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Speaker 1: get some money in their hands. And I think that

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Speaker 1: sending checks out to individuals. The President is very supportive

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Speaker 1: of that. I know Democrats are supported by the two

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Speaker 1: So why we just don't it is a mystery to me.

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Speaker 1: We need to continue some form of benefit for people

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Speaker 1: who are on unemployment. The the traditional benefits are too low.

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Speaker 1: I think the president's strandard dollars might actually be a

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Speaker 1: little high. I think it should be around two. But

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Speaker 1: we need to do something for those individuals, and we

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Speaker 1: need to do something definitive with respect to this payroll

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Speaker 1: tax waiver through the INDs. I was going to ask

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Speaker 1: you it should be longer. We need to reward people

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Speaker 1: who are working. What what could be more sensible than that.

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Speaker 1: We need to reward people for working, and we need

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Speaker 1: to reward employers for hiring those individuals. And we can

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Speaker 1: do that with payroll tax cuts. They should be made permanent,

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Speaker 1: they should be it should be done by and I

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Speaker 1: mean that we should permanently forgive those amounts through the

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Speaker 1: end of the year. And that's going to take an

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Speaker 1: Act of Congress, and Congress should get off its so

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Speaker 1: let's say, but should get off and get that done.

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Speaker 1: And senior fellow at the Pepperdine University School of Public Policy,

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Speaker 1: former CEO of c k E Restaurants, and author of

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Speaker 1: Getting America Back to Work. And it's on my nightstand

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Speaker 1: to read this book. So when I read it, I'm

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Speaker 1: gonna have you back on because I I should have

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Speaker 1: led with the payroll tax cut because I wanted to

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Speaker 1: get real in the weeds with it. But I'm serious,

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Speaker 1: all right. I appreciate that because I'm telling you folks,

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Speaker 1: the payroll tax cut. You know, it was all the

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Speaker 1: talk of the Trump Hotel earlier today, they're pushing this

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Speaker 1: payroll tax cut and they feel that it's gonna help

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Speaker 1: them make inroads uh in in in the uh in

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Speaker 1: the suburbs. So I'm gonna, you know, we the payroll

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Speaker 1: tax cut, I think is going to be something that's

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Speaker 1: really interesting, especially for the Mattie Doublers of the world,

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Speaker 1: for her to dissect. In terms of that, download Bloomberg

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Speaker 1: sound On podcasts on Apple it Tunes and Bloomberg dot Com,

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Speaker 1: or by downloading the Bloomberg Business app. You can also

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Speaker 1: find me on radio dot com, I Heart Radio, and Spotify.

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Speaker 1: My name is Kevin Serelli. I'm the chief Washington correspondent

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Speaker 1: for Bloomberg Television and Bloomberg Radio. And you're listening to Bloomberg.

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Speaker 1: You're listening to Bloomberg Sound On with Kevin Currel on

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Speaker 1: Bloomberg and one oh five point seven f M h

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Speaker 1: D two. My name is Kevin Cirelli. I'm the chief

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Speaker 1: Washington correspondent for Bloomberg Television and from Bloomberg Radio. I

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Speaker 1: was at dog Tag Bakery earlier getting myself a nice

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Speaker 1: iced cup of show a couple of days ago, not today,

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Speaker 1: and uh I was reminded by just how much. I

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Speaker 1: love that place really and how much they're doing for veterans,

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Speaker 1: and they went completely virtual, and I'm just so grateful

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Speaker 1: that places like that exists in our community. It makes

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Speaker 1: you feel connected, you know, and in these times, you

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Speaker 1: got to feel connected, all right. As a pivot, earlier today,

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Speaker 1: I spoke with the Republican National Committee Chairwoman Ron McDaniel.

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Speaker 1: I asked her about a host of different issues, but

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Speaker 1: I also asked her about the economy. And so I

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Speaker 1: want to first start about my first question, which is

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Speaker 1: what should we expect from the convention here? She is

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Speaker 1: the theme of our convention is the great American story,

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Speaker 1: and I think you heard through the speakers last night

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Speaker 1: the reason why they love the United States of America

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Speaker 1: and the freedoms and the opportunity it's brought to people

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Speaker 1: like Tim Scott or Maximo Alvarez. And you're going to

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Speaker 1: see more of that as we go into Land of Heroes,

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Speaker 1: uh and Land of Promises. Tonight you'll hear from the

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Speaker 1: first Lady, which I would be very exciting. You're gonna

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Speaker 1: have venue changes every day, but the overall theme is

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Speaker 1: this is the greatest country on earth. We love this

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Speaker 1: country and we want to have the opportunity and the

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Speaker 1: freedoms that we enjoy as Americans available forever, and that's

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Speaker 1: at risk if we choose a Joe Biden or Kamala Harris. Now,

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Speaker 1: swing state polls have the President trailing just behind Joe Biden.

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Speaker 1: Obviously we're still a ways out from election day. He's

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Speaker 1: still within striking district distance in these polls. But on

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Speaker 1: the issue of the economy, President Trump, according to the

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Speaker 1: Walsh Journal NBC News poll, is up by ten percentage

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Speaker 1: point despite some disapproval in handling of the pandemic. When

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Speaker 1: you look at those two issues, handling of the pandemic

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Speaker 1: as well as the economy, how do you reconcile that

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Speaker 1: and and use the invention as an opportunity potentially to

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Speaker 1: tell the Republican story on the handling of the pandemic, Well,

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Speaker 1: you've seen Democrats really try and politicize the pandemic and

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Speaker 1: use that as a way to criticize the president, and

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Speaker 1: I think most Americans recognized this is never happened in

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Speaker 1: our country. It's a global pandemic. The President took decisive

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Speaker 1: action cutting down travel to China early on with the

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Speaker 1: p p P loans with a ppe that he's made

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Speaker 1: available with ventilators, with warp speed vaccines. So he's addressing that.

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Speaker 1: But I think more than anything, as we talked about

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Speaker 1: the economy, Joe Biden just said I will shut down

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Speaker 1: America again. I think that is such an elitist view.

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Speaker 1: Not many people can afford to stop. Point to work

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Speaker 1: right now. People live h check to paycheck. We don't

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Speaker 1: see Democrats here trying to pass a stimulus bill. Instead,

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Speaker 1: they're trying to pass a USPS bill to make sure

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Speaker 1: that they get elected again. They're not working on behalf

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Speaker 1: of the American people. And when Joe Biden says we're

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Speaker 1: gonna shut it down again, you know who can shut

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Speaker 1: down again Hollywood celebrities and the politically elite. Most average

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Speaker 1: Americans need this economy to continue growing, and that's what

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Speaker 1: President Trump has done, balancing health and safety with getting

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Speaker 1: the economy open. And on the issue though of the economy.

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Speaker 1: You look at a state like Michigan, a course, chairwoman,

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Speaker 1: that you're incredibly familiar with, such a key battleground state

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Speaker 1: UH in this UH in this election. But you look

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Speaker 1: at some of these suburbs in particular that are swing

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Speaker 1: districts that have gone blue in two thousand and eighteen,

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Speaker 1: that that if Republicans want to win, they gotta win

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Speaker 1: them back. How will the Republican Party try to make

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Speaker 1: some inroads in those swing districts? Is it school choice?

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Speaker 1: Is it law and order? A both? And the economy?

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Speaker 1: School choice, lawn order, and the economy are things that

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Speaker 1: are going to help bring back suburban voters, especially as

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Speaker 1: they see Joe Biden embrace the policies of Bernie Sanders

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Speaker 1: that are very extreme. There's a reason why they didn't

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Speaker 1: talk about these policies during their convention because they know

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Speaker 1: that they don't appeal to mainstream Americans. When you say

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Speaker 1: we're going to give free healthcare to people who come

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Speaker 1: here illegally, what does that mean. It means it will

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Speaker 1: create a magnet for people to come here illegally, and

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Speaker 1: it will increase the cost of healthcare. When they say

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Speaker 1: we're gonna give away four year colleges for your college degrees,

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Speaker 1: moms in the suburbs, we know that's not true. That

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Speaker 1: just means our taxes are going to go up. And

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Speaker 1: you know what, why don't you focus on getting kids

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Speaker 1: graduating from high school before we give away free college.

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Speaker 1: There's so many things that they're putting forward that aren't

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Speaker 1: being vetted. And I think suburban women are especially are

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Speaker 1: looking at this and recognizing Joe Biden's policies will bankrupt

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Speaker 1: this country. So so the Republicans are making an argument

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Speaker 1: on policies. When I talk to Democrats, they're making an

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Speaker 1: argument more on on ethos or, as Joe Biden says,

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Speaker 1: fighting for the soul of the country. And they raised

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Speaker 1: this notion of the the the chaos, so to speak,

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Speaker 1: coming in their words, coming from the administration. How do

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Speaker 1: Republicans counter that about about the pushback that Democrats have

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Speaker 1: really been been lobbing as a criticism, Well, the cast

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Speaker 1: we're seeing is only coming from Democrat run cities that

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Speaker 1: are allowing rioting and looting and all types of mayhem

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Speaker 1: to unfold in their cities, with mayors abandoning their police forces,

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Speaker 1: like we've seen in Seattle, like we've seen in New York.

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Speaker 1: Everyone's watching this in the country. It's the president who's

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Speaker 1: saying we need law and order. But on the second

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Speaker 1: point I said this last night, Joe Biden is running

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Speaker 1: as a nice guy. It is not nice to run

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Speaker 1: raise taxes on of American families. It is not nice

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Speaker 1: to get rid of ten million energy jobs, which means

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Speaker 1: we're going to have to pay more to fuel our

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Speaker 1: car and heat our homes. So all Biden might be nice,

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Speaker 1: but his policies are not. Donald Trump is tough, and

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Speaker 1: he's tough when he takes on China, and he's and

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Speaker 1: he's tough when he fights for the American people because

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Speaker 1: nice guys like Joe have given away too much two

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Speaker 1: countries like China and Iran. And I think there's a

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Speaker 1: real difference between saying he's a nice guy and looking

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Speaker 1: at a leader that's decisive and action oriented like President Trump.

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Speaker 1: And just one final question that I have, I want

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Speaker 1: to ask you about about navigating through a virtual convention

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Speaker 1: and with a fewer campaign rallies. But on the issue

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Speaker 1: of foreign policy, you mentioned the Iran steel, you mentioned

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Speaker 1: China in particular. Later this evening, Secretary of State Mike

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Speaker 1: Popeo is going to be addressing the convention from speaking overseas.

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Speaker 1: UH Democrats say that they want to take a multilateral

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Speaker 1: approach in the world. The President and this administration have

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Speaker 1: argued that the US being able to be a little

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Speaker 1: bit more independent for lack of a better word has

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Speaker 1: enabled the administrator should to better make their case for

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Speaker 1: America in the world. What are we going to hear

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Speaker 1: from Secretary Pompeo tonight. Well, I'm not gonna prove you

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Speaker 1: everything he's gonna say, and he's going to be addressing

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Speaker 1: the nation as Mike Pompeo. Uh, and he's in Israel.

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Speaker 1: But all the production costs will be paid for by

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Speaker 1: the RNC and the campaign. I do think it's critical

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Speaker 1: to note, like you said, Barack Obama and Joe Biden

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Speaker 1: engaged in trade deals that did not benefit the American people.

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Speaker 1: Everything was multilateral, and Donald Trump said, We're gonna go

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Speaker 1: back to unilateral trade deals. I'm going to deal with

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Speaker 1: countries individually, and we're gonna make our country stronger by

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Speaker 1: doing that. And you see what he's done with U, S. M.

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Speaker 1: C A. You see what he's done recently, not on

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Speaker 1: a trade deal, but with this historic peace deal with

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Speaker 1: you A, E and Israel. So this is a president

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Speaker 1: who has addressed foreign policy in a very different way,

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Speaker 1: and he has made significantly more strides than Joe Biden

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Speaker 1: and Obama, and they're failing trade. Paula sees that did

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Speaker 1: not put America first, and then final question, just how

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Speaker 1: have have you as a as a business organization as

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Speaker 1: well as the course of the r and C. How

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Speaker 1: you had to shift the strategy during the pandemic. Well,

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Speaker 1: of course we all had to adjust to COVID. The

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Speaker 1: RNC went virtual within twenty four hours. But now we

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Speaker 1: are re engaging. We're knocking doors again, We're registering voters.

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Speaker 1: We've outregistered the Democrats in six battleground states. These are

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Speaker 1: things that are getting unnoticed but are going to be

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Speaker 1: critical as we're turning out that vote in November. Uh.

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Speaker 1: The r n C it has been a well oiled machine.

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Speaker 1: We've raised record money, we have two thousand staff on

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Speaker 1: the ground, We've activated two million volunteers, and this is

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Speaker 1: going to be instrumental as we're turning out our vote

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Speaker 1: towards November and beyond that. We have the message on

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Speaker 1: our side. President Trump is talking about the great American comeback,

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Speaker 1: and Joe Biden is talking about transforming the greatest nation

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Speaker 1: on earth that has provided the most opportunity for the

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Speaker 1: most people, and it's why so many people want to

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Speaker 1: come to the United States of America. Joe's version of

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Speaker 1: America is doom and gloom. President Trump, He's a bright future.

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Speaker 1: That was my interview with Ron and Rodney McDaniel. She

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Speaker 1: is the chairwoman of the Republican National Convention, and of

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Speaker 1: course last week we spoke with Tom Perez, who chairs

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Speaker 1: the Democratic National Convention. Coming up more policy and politics

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Speaker 1: ab Stoddard Lesser months and I'm Kevin Sirelli. You're listening

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Speaker 1: to Bloomberg and died I want live from our nation.

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Speaker 1: How do we reopen this economy? The latest on how

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Speaker 1: this pandemic is impacting farmers? What does this do for

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Speaker 1: the United States relationship with China? Floomberg Sound on the insiders,

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Speaker 1: the influencers, the inside. We're responding to this crisis and

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Speaker 1: manufacturers are stepping up like never before. You're looking at

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Speaker 1: Trebney Kennedy for different backs. How do we make sure

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Speaker 1: a pandemic of the Gale never happens again? This is

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Speaker 1: Bloomberg Sound On with Kevin on Bloomberg. My name is

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Speaker 1: Kevin's really And we've got full coverage of night too

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Speaker 1: of the Virtual Republican National Convention, plus an interview with

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Speaker 1: Donald Trump Jr. From the Trump Hotel, and of course

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Speaker 1: the latest market moving news on Wall Street tonight, First

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Speaker 1: Lady Melania Trump speaks highlights the marquee speech at the

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Speaker 1: second night of the virtual Virtual Republican National Conventions, as

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Speaker 1: does Secretary of State Mike Pompeo. Here to give us

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Speaker 1: a complete preview, A B. Stoddard, Associate editor at Real

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Speaker 1: Clear Politics, and Lester Monthson, principal at the government relations

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Speaker 1: firm b g R Group. We're gonna talk policy and

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Speaker 1: politics all throughout the hour, but let's kick things off

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Speaker 1: with a preview a b of what we're going to

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Speaker 1: see tonight. Maybe, Oh, we're going to see a lot

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Speaker 1: of Trump family members. We're gonna see the sector of

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Speaker 1: state in his quote personal capacity, obviously making a policy

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Speaker 1: argument for the Trump administration's accomplishments and what they would continue,

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Speaker 1: um to be striving for in a second term. I

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Speaker 1: don't know how that's a personal capacity, but um, it'll

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Speaker 1: be I think a continuation of what its land of opportunity.

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Speaker 1: I think is a theme. What I found last night,

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Speaker 1: in between a lot of dire fearmongering, was actually a

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Speaker 1: really effective presentation of the of the president's accomplishments in

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Speaker 1: his first term, using credible validators, the people who non

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Speaker 1: white validators who do not think he's a racist, and um,

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Speaker 1: I think they actually, in between the doom and gloom

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Speaker 1: about the socialist anarchists takeover under a Biden administration, UH,

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Speaker 1: put on a pretty good show about what the incumbent

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Speaker 1: has done. And I expect more of that tonight. So

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Speaker 1: you think it was pretty good. I mean, you're you're

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Speaker 1: not one to pull a punch from from your criticism

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Speaker 1: of Republicans these days, but but you thought it was

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Speaker 1: pretty good. I did. I thought that, you know, bringing out. Look,

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Speaker 1: the president knows he has to roll up his base.

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Speaker 1: He's losing part portions of his base, and small numbers

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Speaker 1: here and small numbers they're add up, right, So you

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Speaker 1: look at seniors, you look at non college white women, veterans,

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Speaker 1: people who have been um on the record upset with

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Speaker 1: the president. Um, he can't afford to do that, to

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Speaker 1: lose any of them. So it's very much aimed at

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Speaker 1: energizing them using fear, which is effective, which really was seniors,

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Speaker 1: the abolishment of the suburbs, all this stuff. But at

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Speaker 1: the same time they recognize that there is an empathy gap,

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Speaker 1: and so they tried to have him, you know, meeting

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Speaker 1: in the White House with first responders and then these

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Speaker 1: other people, you know, someone who needed experimental cancer treatments

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Speaker 1: and the right to try, legislation that was past criminal

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Speaker 1: justice reform, trade policies, freed hostages. Sitting with the president.

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Speaker 1: I thought it was a very Again, the President will

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Speaker 1: step on it the next morning with tweets. He's his

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Speaker 1: own worst enemy in terms of political messaging. But the

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Speaker 1: people who planned the convention I think have done a

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Speaker 1: pretty good job, you know, I I would. I thought

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Speaker 1: they were feeling pretty good at the Trump hotel. And

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Speaker 1: coming up you'll hear my conversation with Don JR. Lester,

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Speaker 1: what did you make of Nicky Haley? And put on

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Speaker 1: your foreign policy cap for a second. Nicky Haley and

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Speaker 1: of course Secretary Pompeo, what what do you think from

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Speaker 1: a foreign policy perspective? Lester? By the way, folks, I

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Speaker 1: used to be one of the top aids for the

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Speaker 1: chairman of the Center Form Relations Committee, Bob Corker, so

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Speaker 1: he knows a thing or two about foreign policy and

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Speaker 1: conservative ideology. To go ahead, Lester, Yeah, Bob Corker, who

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Speaker 1: was a Senator from Tennessee, of course, was born in

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Speaker 1: South Carolina, South Carolina's interesting place these days for Republicans.

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Speaker 1: Nicky Haley is a star. Tim Scott did a great job.

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Speaker 1: That's that's where they're all eyes are going to be

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Speaker 1: on that state in three years when we're thinking about

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Speaker 1: who's going to be the next Republican nominee. I think

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Speaker 1: Nicky Haley is a great candidate. I don't completely agree

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Speaker 1: with all of her statements, but she's done a nice

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Speaker 1: job of maintaining good offices with both mainstream Republicans and

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Speaker 1: more of the Trump Ike Republican wing of the party,

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Speaker 1: which which is a rare thing that she's probably the

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Speaker 1: only one, the only major national figure who's done that,

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Speaker 1: with the possible exception on Mike Pence. So I think

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Speaker 1: she did herself well. Tim Scott did a great job.

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Speaker 1: There were there were some real great moments last night.

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Speaker 1: Not all of them were perfect, but there were some

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Speaker 1: great moments, and she was one of them. Well, what

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Speaker 1: about Pompeo, give us a preview? What are you going

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Speaker 1: to be looking for? What are you going to be

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Speaker 1: listening for? Well, Pompeo is is breaking some norms by

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Speaker 1: being at the convention at all. Uh, he's breaking some

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Speaker 1: norms by being in Jerusalem, UH, And I think my senses,

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Speaker 1: the campaign is absolutely embracing that they want this to

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Speaker 1: be controversial. They want to break some China, as it were.

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Speaker 1: Mike Pompeio was going to make an appeal not just

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Speaker 1: for the evangelical vote, but also for the Jewish American

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Speaker 1: coach um. The decision by the administration to recognize Jerusalem

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Speaker 1: as the capital of Israel was controversial at the time.

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Speaker 1: It was widely condemned. People said it would lead to

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Speaker 1: bad things happening in the Middle East. It really didn't.

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Speaker 1: If anything, it helped us make some positive steps forward.

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Speaker 1: The the new deal between you a E And Israel,

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Speaker 1: where they're going to open diplomatic relations soon, which is

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Speaker 1: a big breakthrough. UH may have been helped by moving

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Speaker 1: UH the U. S. Embassy to Jerusalem. So I think

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Speaker 1: he's gonna brag about those things. He's going to talk

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Speaker 1: about how they're willing to take some risk to do

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Speaker 1: the right things for US national security. And in some

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Speaker 1: cases he's got a very he's got a very good

429
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Speaker 1: argument to make. And we just got these headlines today

430
00:23:44,840 --> 00:23:48,480
Speaker 1: actually that the first Israel you A commercial flight will

431
00:23:48,520 --> 00:23:53,680
Speaker 1: take off next Monday, and Jared Kushner, O'Brien, the National

432
00:23:53,720 --> 00:23:57,960
Speaker 1: Security Advisor, UH and Berkowitz. They're all going to be

433
00:23:58,840 --> 00:24:02,440
Speaker 1: participating in that flight. Abe, What is Mike Pompeo? Because

434
00:24:02,560 --> 00:24:06,480
Speaker 1: yesterday Tim Scott Nicky Haley obviously rumored to have ambitions

435
00:24:06,520 --> 00:24:08,960
Speaker 1: Mike Pompeo clearly and that mix as well. What are

436
00:24:08,960 --> 00:24:10,840
Speaker 1: you gonna be looking for for Secretary Pompeo or I

437
00:24:10,840 --> 00:24:14,040
Speaker 1: guess the Honorable Pompeo because if he's speaking at the convention,

438
00:24:14,080 --> 00:24:16,280
Speaker 1: we can't use his title because of the hat check.

439
00:24:16,280 --> 00:24:21,160
Speaker 1: Go ahead, Aby, Yeah, I don't know how he can

440
00:24:22,080 --> 00:24:28,800
Speaker 1: really distanced himself from the other players, um until Trump

441
00:24:30,000 --> 00:24:32,680
Speaker 1: is out of the picture. So you know, we were

442
00:24:32,720 --> 00:24:36,800
Speaker 1: all eyebrows raised a few weeks back, when would appear

443
00:24:36,920 --> 00:24:40,720
Speaker 1: to be a leak from Pompeo world appeared, I believe

444
00:24:40,720 --> 00:24:42,480
Speaker 1: in the New York Times about how upset he was

445
00:24:42,520 --> 00:24:44,760
Speaker 1: about the Russian bounties and that he had raised the

446
00:24:44,840 --> 00:24:49,720
Speaker 1: issue with his Russian counterpart in you know, some aggressive

447
00:24:50,119 --> 00:24:53,720
Speaker 1: way to make sure that the Russians knew that. Um,

448
00:24:54,040 --> 00:24:58,320
Speaker 1: you know, we were upset, and um there could be consequences,

449
00:24:58,400 --> 00:25:01,399
Speaker 1: something the President has not responded to in almost two months.

450
00:25:02,000 --> 00:25:04,000
Speaker 1: So this is not a night that I would expect

451
00:25:04,080 --> 00:25:07,200
Speaker 1: him to stand up and say something um off script

452
00:25:07,320 --> 00:25:10,320
Speaker 1: about confronting the Russians, because that's not something that Donald

453
00:25:10,359 --> 00:25:15,040
Speaker 1: Trump likes, um and supports. And while we saw this

454
00:25:15,160 --> 00:25:23,960
Speaker 1: interesting difference between Prospect NICKI Haley, Prospect Don Junior last night,

455
00:25:24,040 --> 00:25:27,120
Speaker 1: each sort of taking a different approach to Confederate statutes

456
00:25:27,200 --> 00:25:31,720
Speaker 1: or monuments or whatever, UM, I don't expect Pompeo to

457
00:25:31,760 --> 00:25:35,199
Speaker 1: do anything to distinguish himself from Mike Pence or Don Jr.

458
00:25:35,440 --> 00:25:38,600
Speaker 1: Or Tom Cotton or or Nicky Haley to night, just

459
00:25:38,640 --> 00:25:41,760
Speaker 1: to use the the you know, the the influence of

460
00:25:41,880 --> 00:25:44,560
Speaker 1: his high position and the fact remind voters that he

461
00:25:44,880 --> 00:25:49,080
Speaker 1: has also served President Trump a s CIA director, um,

462
00:25:49,160 --> 00:25:52,520
Speaker 1: and you know, just do a tour of the world

463
00:25:53,000 --> 00:25:56,440
Speaker 1: um and spin it, you know, as well as he can,

464
00:25:56,520 --> 00:26:00,840
Speaker 1: both for President Trump and himself, is what I would expect.

465
00:26:00,880 --> 00:26:03,040
Speaker 1: I think that there's no way for him to sort

466
00:26:03,080 --> 00:26:08,480
Speaker 1: of subtly position himself in field tonight. I think that's

467
00:26:08,760 --> 00:26:12,640
Speaker 1: I think I would be looking for. If he's he's

468
00:26:12,680 --> 00:26:14,480
Speaker 1: all in on China, I think that's gonna be a

469
00:26:14,520 --> 00:26:17,560
Speaker 1: lot what you're gonna hear from from from him. All Right,

470
00:26:17,600 --> 00:26:19,600
Speaker 1: you know, I think what's interesting Maybe what you did

471
00:26:19,600 --> 00:26:22,399
Speaker 1: there is something that I I was kind of, you know,

472
00:26:22,920 --> 00:26:24,960
Speaker 1: thinking about to last night when I was listening to

473
00:26:25,000 --> 00:26:28,040
Speaker 1: Don Jr. I because he was sandwiched between NICKI Haley

474
00:26:28,080 --> 00:26:32,280
Speaker 1: and Tim Scott, whose names frequently get mentioned. Everyone's been thinking, Oh,

475
00:26:32,440 --> 00:26:34,560
Speaker 1: is Don gonna run for Senate? Is he gonna run

476
00:26:34,600 --> 00:26:36,880
Speaker 1: for mayor in New York? I mean, maybe he has

477
00:26:36,920 --> 00:26:39,280
Speaker 1: his eyes on a different kind of political prize. And

478
00:26:39,320 --> 00:26:42,199
Speaker 1: it was a largely policy based speech last night for

479
00:26:42,240 --> 00:26:45,200
Speaker 1: Don Junior. It wasn't the typical tweets that were used

480
00:26:45,240 --> 00:26:47,720
Speaker 1: to what do I know? What do I know? Alright?

481
00:26:47,720 --> 00:26:51,119
Speaker 1: Coming up next, we talk more policy and politics with

482
00:26:51,240 --> 00:26:54,639
Speaker 1: the panel, Lester months in principal government relations firms B

483
00:26:54,760 --> 00:26:56,879
Speaker 1: g R and of course the former Top the Top

484
00:26:57,000 --> 00:26:59,439
Speaker 1: individual for the former Chairman at the Center, former Lation

485
00:26:59,480 --> 00:27:02,800
Speaker 1: Committee Bob Corker, and ab Startdd associate editor at Real

486
00:27:02,880 --> 00:27:05,240
Speaker 1: Clear Politics, who are the best in the biz. Download

487
00:27:05,240 --> 00:27:07,480
Speaker 1: the Bloomberg sn On podcast on Apple, Itchiams and Bloomberg

488
00:27:07,480 --> 00:27:09,920
Speaker 1: dot com, or by downloading the Bloomberge Business app. You

489
00:27:09,960 --> 00:27:12,560
Speaker 1: can also find me on Radio dot com, I Heart

490
00:27:12,640 --> 00:27:16,399
Speaker 1: Radio and Spotify or wherever you get your Bloomberg. The

491
00:27:16,480 --> 00:27:23,080
Speaker 1: name's Kevin Cirelli. You're listening to Bloomberg. This is Bloomberg's

492
00:27:23,119 --> 00:27:27,719
Speaker 1: Sound On with Kevin Sireli on Bloomberg and one All

493
00:27:27,840 --> 00:27:30,680
Speaker 1: five point seven F M H D two. Let's talk

494
00:27:30,720 --> 00:27:32,920
Speaker 1: about the economy. My name is Kevin Cereli on the

495
00:27:32,960 --> 00:27:36,160
Speaker 1: Chief Washington correspondent for Bloomberg Television and from Bloomberg Radio.

496
00:27:36,200 --> 00:27:39,920
Speaker 1: Did you see the markets today? Us equities rose to

497
00:27:40,000 --> 00:27:44,200
Speaker 1: an all time high for a third day, with the

498
00:27:44,240 --> 00:27:48,280
Speaker 1: investors counting on the FED to stay accommodative as the

499
00:27:48,320 --> 00:27:54,480
Speaker 1: economy recovers from the Corona virus pandemic, and of course,

500
00:27:54,520 --> 00:27:58,040
Speaker 1: the S and P five hundred and the NASDAC composit

501
00:27:58,160 --> 00:28:02,679
Speaker 1: notched fresh highs, with Facebook rallying after unveiling a series

502
00:28:02,720 --> 00:28:06,920
Speaker 1: of tools designed to expand shopping on its social media platforms.

503
00:28:07,359 --> 00:28:10,280
Speaker 1: The Dow Jones Industrial Average declined for the first time

504
00:28:10,280 --> 00:28:14,679
Speaker 1: in four days. Salesforce jump ten percent following the close

505
00:28:14,880 --> 00:28:18,600
Speaker 1: of regular trading after raising its revenue outlook, and treasury

506
00:28:18,680 --> 00:28:22,480
Speaker 1: yields increase in the dollar weekend. ABE starters with me

507
00:28:22,520 --> 00:28:26,560
Speaker 1: Associate editor Real Clear Politics Lester months in principle at

508
00:28:26,600 --> 00:28:29,720
Speaker 1: government relations from BJR group, he's a Republican A b

509
00:28:29,960 --> 00:28:31,720
Speaker 1: Did you see that Wall Street Journal poll? I was.

510
00:28:31,800 --> 00:28:34,040
Speaker 1: I'm talking about it because I find it fascinating and

511
00:28:34,119 --> 00:28:37,560
Speaker 1: it really hits to the issue of the economy because

512
00:28:37,600 --> 00:28:40,760
Speaker 1: the President still beating Biden when it comes to who

513
00:28:40,800 --> 00:28:45,200
Speaker 1: Americans trust more with handling of the economy. Why is that? Aby?

514
00:28:45,240 --> 00:28:47,080
Speaker 1: They don't? They don't. They disapprove of his handling of

515
00:28:47,080 --> 00:28:49,800
Speaker 1: the pandemic. He's trailing in national polls, He's in striking

516
00:28:49,800 --> 00:28:53,719
Speaker 1: distance of battleground swing states. Why is it? Why has

517
00:28:53,760 --> 00:28:56,880
Speaker 1: he been able to to hold onto the economy? Aby Stoddard?

518
00:28:56,880 --> 00:28:59,400
Speaker 1: And does that? Is that a potential storm a bruin

519
00:29:00,040 --> 00:29:04,320
Speaker 1: for Joe Biden? Well, that is what I'm so curious

520
00:29:04,360 --> 00:29:09,080
Speaker 1: to see unfold, because the President has always gotten better

521
00:29:09,200 --> 00:29:12,320
Speaker 1: numbers on the economy than from from people who don't

522
00:29:12,360 --> 00:29:18,160
Speaker 1: approve of his job performance. Um. And so there's always

523
00:29:18,160 --> 00:29:21,760
Speaker 1: been this interesting gap between that number. This is before

524
00:29:21,800 --> 00:29:24,160
Speaker 1: Biden was the nominee, before COVID nineteen. All of this

525
00:29:24,840 --> 00:29:28,920
Speaker 1: um that he that they disapprove of him overall, despite

526
00:29:28,960 --> 00:29:31,560
Speaker 1: the fact that he is strong on the economy. And

527
00:29:31,600 --> 00:29:34,080
Speaker 1: then of course the people who support him strongly obviously

528
00:29:34,080 --> 00:29:37,479
Speaker 1: give him even stronger numbers. On the economy, He's produced

529
00:29:37,480 --> 00:29:40,440
Speaker 1: the best economy in a good long time. It is

530
00:29:40,480 --> 00:29:42,200
Speaker 1: not the best in the history of the world. As

531
00:29:42,240 --> 00:29:45,520
Speaker 1: he likes to say, Um what I'm watching as we know.

532
00:29:45,720 --> 00:29:47,320
Speaker 1: I mean, you know a lot more about this than

533
00:29:47,360 --> 00:29:50,560
Speaker 1: I do, Kevin. But the stock market is not the economy.

534
00:29:50,680 --> 00:29:53,920
Speaker 1: And we are looking at a whole bunch of evictions

535
00:29:53,920 --> 00:30:00,160
Speaker 1: and likely foreclosures UM, and some spiraling um, delitarious effects UM.

536
00:30:01,240 --> 00:30:05,760
Speaker 1: States and local uh municipalities, places where we have middle

537
00:30:05,760 --> 00:30:10,720
Speaker 1: class jobs UM, really on the line, you know, nurses, firefighters, teachers,

538
00:30:11,080 --> 00:30:16,560
Speaker 1: custodial workers hops um. And if those if those job

539
00:30:16,640 --> 00:30:20,400
Speaker 1: losses start to tumble, UM, We're really looking at a

540
00:30:20,480 --> 00:30:23,560
Speaker 1: at a really scary place. So I have no idea

541
00:30:24,080 --> 00:30:26,400
Speaker 1: what the Congress might do in September. I have no

542
00:30:26,560 --> 00:30:30,480
Speaker 1: idea what the picture will look like two months from

543
00:30:30,520 --> 00:30:34,120
Speaker 1: today on October. I think it's great the stock market

544
00:30:34,160 --> 00:30:39,600
Speaker 1: and investors remained so confident. I want nothing but good news.

545
00:30:39,960 --> 00:30:42,080
Speaker 1: It is certainly good news for the President of Americans

546
00:30:42,120 --> 00:30:44,840
Speaker 1: continue to believe that he will bring it back. But

547
00:30:44,960 --> 00:30:47,479
Speaker 1: I don't think what we're looking at is in the

548
00:30:47,480 --> 00:30:50,160
Speaker 1: indicators is an assurance that it's coming back well. And

549
00:30:50,160 --> 00:30:52,000
Speaker 1: I was struck by two headlines and I was prepping

550
00:30:52,040 --> 00:30:56,360
Speaker 1: for today's show. I mean Mary Schlangenstein on the Bloomberg Terminal.

551
00:30:56,400 --> 00:31:00,560
Speaker 1: The headline just speaks for itself. American Heirs ob cuts

552
00:31:00,720 --> 00:31:03,720
Speaker 1: once the US Payroll Aid ends. Reading from the Bloomberg Terminal,

553
00:31:03,760 --> 00:31:09,280
Speaker 1: American Airlines Group will cut nineteen thousand workers once federal

554
00:31:09,360 --> 00:31:14,280
Speaker 1: payroll Aid expires October one, capping a thirty percent workforce reduction.

555
00:31:14,600 --> 00:31:18,720
Speaker 1: Since the coronavirus pandemic began to torpedo travel demand, the

556
00:31:20,600 --> 00:31:24,800
Speaker 1: travel industry is only operating at thirty percent. Airlines thirty

557
00:31:24,840 --> 00:31:27,520
Speaker 1: percent of what they were doing a year ago, lester

558
00:31:27,640 --> 00:31:32,400
Speaker 1: months in and you know, I mean this, The total

559
00:31:32,480 --> 00:31:37,560
Speaker 1: cuts is gonna be forty just from American Airlines, and um,

560
00:31:37,720 --> 00:31:41,800
Speaker 1: you know it's a it's a staggering, depressing, depressing number.

561
00:31:41,840 --> 00:31:44,000
Speaker 1: We should know that American fell two point two percent

562
00:31:44,040 --> 00:31:47,160
Speaker 1: to thirteen point thirteen dollars and fourteen cents of share

563
00:31:47,440 --> 00:31:49,040
Speaker 1: at the close in New York. But it was still

564
00:31:49,080 --> 00:31:52,360
Speaker 1: a beating of what they had thought they were gonna

565
00:31:52,400 --> 00:31:55,560
Speaker 1: have to lay off, which was liked so that's one

566
00:31:55,960 --> 00:31:59,520
Speaker 1: of the realities that Aby was alluding to Lester. But

567
00:31:59,560 --> 00:32:01,560
Speaker 1: then there was the story that pop this afternoon in

568
00:32:01,600 --> 00:32:04,840
Speaker 1: the Journal. Did you see this? China's economy is bouncing

569
00:32:04,880 --> 00:32:07,640
Speaker 1: back and gaining ground on the US. The lead from

570
00:32:07,720 --> 00:32:11,160
Speaker 1: Jonathan Chang in Beijing quote, as much of the world

571
00:32:11,280 --> 00:32:15,760
Speaker 1: struggles to contain the coronavirus, China's recovery is gaining momentum,

572
00:32:15,800 --> 00:32:19,640
Speaker 1: positioning it to further close its gap with the US economy.

573
00:32:19,680 --> 00:32:23,400
Speaker 1: Across China, restaurants and gyms are busy again. Subway cars,

574
00:32:23,480 --> 00:32:27,040
Speaker 1: airport departure lounges are packed. Children are preparing to return

575
00:32:27,040 --> 00:32:30,720
Speaker 1: to classrooms with few of the restrictions and US officials

576
00:32:30,720 --> 00:32:33,600
Speaker 1: say US officials say will be hallmarks of the post

577
00:32:33,640 --> 00:32:38,040
Speaker 1: coronavirus life. You know, you read that and you think,

578
00:32:38,080 --> 00:32:42,560
Speaker 1: who's holding them accountable? Lester months in number one, But secondly,

579
00:32:43,120 --> 00:32:45,400
Speaker 1: they got the virus first. Maybe we're about two months

580
00:32:45,400 --> 00:32:51,520
Speaker 1: away from that, right, And I think, um, this situation,

581
00:32:51,640 --> 00:32:55,960
Speaker 1: I think is actually helpful to the incumbent. Right, We've

582
00:32:56,040 --> 00:32:59,200
Speaker 1: gone through in all likelihood, you know, I'm not the

583
00:32:59,240 --> 00:33:02,240
Speaker 1: public health X but we've gone through the tough part

584
00:33:02,360 --> 00:33:10,040
Speaker 1: of the pandemic here in the United States. Now things

585
00:33:10,080 --> 00:33:13,040
Speaker 1: are leveling off here after the second wave and maybe

586
00:33:13,080 --> 00:33:16,400
Speaker 1: even looking pretty good going forward. The stock market, while

587
00:33:16,440 --> 00:33:19,400
Speaker 1: as A. B. Points out, isn't necessarily the whole economy,

588
00:33:19,480 --> 00:33:23,120
Speaker 1: it is a leading indicator, is showing that folks who

589
00:33:23,160 --> 00:33:25,400
Speaker 1: want to invest here believe things are going to be

590
00:33:25,400 --> 00:33:29,920
Speaker 1: better soon. Um. The message of the Democrats last week

591
00:33:30,120 --> 00:33:34,160
Speaker 1: was the President has completely bollocks this h People are

592
00:33:34,240 --> 00:33:36,080
Speaker 1: dying and people are out of work because of him.

593
00:33:36,120 --> 00:33:38,600
Speaker 1: If it looks like over the next month or two

594
00:33:39,120 --> 00:33:41,560
Speaker 1: people are getting back to work and he can deal

595
00:33:41,600 --> 00:33:44,360
Speaker 1: with something like what's happening with American airlines, perhaps by

596
00:33:44,360 --> 00:33:49,400
Speaker 1: negotiating something with Congress, which is poison. Under the right circumstances,

597
00:33:49,800 --> 00:33:51,840
Speaker 1: it can look really good for Trump. People believe in

598
00:33:51,920 --> 00:33:54,440
Speaker 1: him on the economy. He's got a good record up

599
00:33:54,480 --> 00:33:58,640
Speaker 1: until uh COVID nineteen happened, and if he can show

600
00:33:58,680 --> 00:34:00,400
Speaker 1: that he can bring us back to that, I think

601
00:34:00,440 --> 00:34:02,440
Speaker 1: that is going to make a big difference in November

602
00:34:02,480 --> 00:34:04,800
Speaker 1: for him. Well. And A. B. Stoddard, I mean, we're

603
00:34:04,800 --> 00:34:07,480
Speaker 1: still waiting on this fiscal stimulus deal, and and whether

604
00:34:07,480 --> 00:34:10,000
Speaker 1: it happens next week or the week after that's another

605
00:34:10,080 --> 00:34:11,719
Speaker 1: round of headlines that the president is going to like

606
00:34:11,760 --> 00:34:14,719
Speaker 1: when they finally get to a deal before election day.

607
00:34:18,200 --> 00:34:21,080
Speaker 1: Does it does it really stop the bleeding? I mean

608
00:34:21,080 --> 00:34:23,799
Speaker 1: that that's that's what we don't know. We also don't

609
00:34:23,840 --> 00:34:29,440
Speaker 1: know how many schools are going to close. Yeah, opening

610
00:34:29,560 --> 00:34:33,400
Speaker 1: is the easy part. Staying open is the challenge. And

611
00:34:33,440 --> 00:34:36,560
Speaker 1: you know, I've said to you so many times since

612
00:34:36,719 --> 00:34:39,319
Speaker 1: we all walked down the weekend of March. There is

613
00:34:39,360 --> 00:34:41,880
Speaker 1: no plan to control the spread of the virus. And

614
00:34:41,920 --> 00:34:45,560
Speaker 1: it's August, all right, Well that you know here, you know,

615
00:34:45,640 --> 00:34:47,799
Speaker 1: and we'll be listening tonight to the First Lady and

616
00:34:47,840 --> 00:34:51,719
Speaker 1: of course to Secretary Pumpeo. Coming up, Don Jr. From

617
00:34:51,760 --> 00:34:55,040
Speaker 1: the Trump Hotel. I'm Kevin Sirelli, Chief Washington correspondent f

618
00:34:55,040 --> 00:34:58,040
Speaker 1: for Womberg Television and from Winberg Radio. You're listening to Bloomberg.

619
00:35:00,080 --> 00:35:26,480
Speaker 1: M M. Such a great song of the greatest song ever,

620
00:35:26,560 --> 00:35:29,080
Speaker 1: thunder Road. Earlier today I caught up with Donald Trump Jr.

621
00:35:29,120 --> 00:35:31,759
Speaker 1: The executive vice president at the Trump Organization. He, of course,

622
00:35:31,840 --> 00:35:35,240
Speaker 1: gave a speech last night. I asked him about the economy.

623
00:35:35,280 --> 00:35:37,960
Speaker 1: Take a listen to what he told me. Donald Trump

624
00:35:38,040 --> 00:35:39,879
Speaker 1: is the first guy to actually get a trade deal

625
00:35:39,920 --> 00:35:42,040
Speaker 1: done with China. And while there are short term pains,

626
00:35:42,080 --> 00:35:45,120
Speaker 1: because there is no instant gratification in the real world,

627
00:35:45,400 --> 00:35:47,239
Speaker 1: you do have to feel some short term pains. And

628
00:35:47,280 --> 00:35:50,080
Speaker 1: we did. And those people and those farmers, they were like, Wow,

629
00:35:50,120 --> 00:35:52,719
Speaker 1: Donald Trump actually got it done, the holy grail of

630
00:35:53,200 --> 00:35:55,680
Speaker 1: trade practice. He got a deal done with China. All

631
00:35:55,719 --> 00:35:57,880
Speaker 1: of these things that are politicians have spoken about for

632
00:35:57,880 --> 00:36:00,919
Speaker 1: decades but never actually been able to effectuate. Donald Trump

633
00:36:00,960 --> 00:36:03,160
Speaker 1: actually did it. So you can be tough on China.

634
00:36:03,200 --> 00:36:05,680
Speaker 1: And if you're tough on China, they realize that they

635
00:36:05,719 --> 00:36:08,640
Speaker 1: actually need us still more than we need them. That

636
00:36:08,680 --> 00:36:10,880
Speaker 1: may not be the case in another decade. So if

637
00:36:10,880 --> 00:36:13,520
Speaker 1: you don't put your foot down now, you never will

638
00:36:13,520 --> 00:36:14,840
Speaker 1: and you'll never be able to get that again. And

639
00:36:14,880 --> 00:36:18,960
Speaker 1: I don't think that anyone watching really believes that Joe Biden, again,

640
00:36:19,200 --> 00:36:22,640
Speaker 1: given his history, given his commentary about China not being

641
00:36:22,640 --> 00:36:25,560
Speaker 1: a true threat to US, given his son taking a

642
00:36:25,560 --> 00:36:27,680
Speaker 1: billion five into his fund, you thirty million a year

643
00:36:27,680 --> 00:36:29,640
Speaker 1: in fees, I'm sure he's gonna be very tough on China.

644
00:36:30,080 --> 00:36:33,160
Speaker 1: It's ridiculous. Donald Trump actually gotta did done. But more importantly,

645
00:36:33,200 --> 00:36:36,600
Speaker 1: Donald Trump got it done with an insane amount of

646
00:36:36,640 --> 00:36:40,040
Speaker 1: incoming uh more heat than any president has taken in

647
00:36:40,080 --> 00:36:42,080
Speaker 1: modern history, and he was still able to get that done.

648
00:36:42,280 --> 00:36:44,759
Speaker 1: If the Democrats see this election as a mandate and

649
00:36:44,840 --> 00:36:46,959
Speaker 1: Donald Trump gets what we gave back the House, maybe

650
00:36:46,960 --> 00:36:49,359
Speaker 1: they'll actually do something to work with us to help

651
00:36:49,440 --> 00:36:51,799
Speaker 1: make that happen. From a political standpoint, do you think

652
00:36:51,800 --> 00:36:53,920
Speaker 1: that's a that's a winning issue for swinging rotors, That

653
00:36:54,000 --> 00:36:56,480
Speaker 1: the issue of China, the mistrust in China, the mistrust

654
00:36:56,560 --> 00:36:59,120
Speaker 1: and the Communist Party of China, that that's that that's

655
00:36:59,120 --> 00:37:01,600
Speaker 1: a winning issue. First, I do. I think more so

656
00:37:01,680 --> 00:37:04,720
Speaker 1: now than ever before. I think people well because honestly,

657
00:37:04,840 --> 00:37:07,399
Speaker 1: like no one believes that China told the truth about

658
00:37:07,400 --> 00:37:10,239
Speaker 1: the coronavirus it started there. They lied to the World

659
00:37:10,280 --> 00:37:12,680
Speaker 1: Health Organization, they lied to the world about the effects

660
00:37:12,680 --> 00:37:15,279
Speaker 1: of this thing. They shut down travel from Wuhan to

661
00:37:15,400 --> 00:37:19,240
Speaker 1: Beijing and to Shanghai, while allowing air travel to Milan

662
00:37:19,320 --> 00:37:23,240
Speaker 1: and everywhere else in the world New York. They allowed

663
00:37:23,239 --> 00:37:26,239
Speaker 1: this thing to spread, and that's disgusting. So if you

664
00:37:26,360 --> 00:37:30,719
Speaker 1: aren't fed up, if you aren't upset with China, now,

665
00:37:30,760 --> 00:37:32,520
Speaker 1: you haven't been watching for six months now, you should

666
00:37:32,520 --> 00:37:35,320
Speaker 1: have been four years. But years prior it was actually

667
00:37:35,320 --> 00:37:38,000
Speaker 1: partially our fault. We had people like Joe Biden whose

668
00:37:38,080 --> 00:37:41,480
Speaker 1: entire policy was if we build up China, if we may,

669
00:37:41,520 --> 00:37:45,120
Speaker 1: maybe they'll become a democracy. That's not gonna happen. It

670
00:37:45,160 --> 00:37:47,359
Speaker 1: never happened. In fact, they have a genocide going on

671
00:37:47,480 --> 00:37:50,160
Speaker 1: right now, and the left is totally silent on the issue.

672
00:37:50,440 --> 00:37:52,200
Speaker 1: So I think we have to wake up to the

673
00:37:52,200 --> 00:37:54,640
Speaker 1: realities of the world, and we haven't done that. Other

674
00:37:54,680 --> 00:37:57,319
Speaker 1: than Donald Trump, you've been criticized. The administration has been

675
00:37:57,320 --> 00:38:00,880
Speaker 1: criticized by UH in terms of how how the rhetoric

676
00:38:01,080 --> 00:38:06,080
Speaker 1: surrounding race UH in this country has has been discussed.

677
00:38:06,360 --> 00:38:09,520
Speaker 1: Last night, you mentioned George Floyd, you mentioned that the

678
00:38:09,560 --> 00:38:13,759
Speaker 1: Republican Party is against racism, and you also said UH

679
00:38:13,800 --> 00:38:15,759
Speaker 1: and it was a common theme, by the way, for

680
00:38:15,760 --> 00:38:19,000
Speaker 1: for last night. Why is that important and what do

681
00:38:19,040 --> 00:38:21,440
Speaker 1: you say to people who are incredibly uncomfortable with the

682
00:38:21,440 --> 00:38:25,200
Speaker 1: administration's rhetoric around race, especially against wing voters. Well, you know,

683
00:38:25,280 --> 00:38:26,719
Speaker 1: I don't I don't think there is this right. I

684
00:38:26,760 --> 00:38:29,319
Speaker 1: think this is a contrived thing put on by the

685
00:38:29,360 --> 00:38:33,360
Speaker 1: media that wants to stereotype Well, Republicans are all angry

686
00:38:33,400 --> 00:38:35,080
Speaker 1: old white guys. Well, that wasn't the case, and you

687
00:38:35,080 --> 00:38:37,400
Speaker 1: saw that in Seen where you had a larger African

688
00:38:37,440 --> 00:38:41,120
Speaker 1: American outreach there. Ever before now this administration has actually

689
00:38:41,120 --> 00:38:43,920
Speaker 1: done all of the things that if Obama Inbiden actually

690
00:38:43,920 --> 00:38:46,319
Speaker 1: cared about these issues, they could have done. They could

691
00:38:46,360 --> 00:38:49,520
Speaker 1: have done opportunities in legislation, they could have done prison reform,

692
00:38:49,640 --> 00:38:52,800
Speaker 1: but they didn't. Donald Trump actually did it. Now again

693
00:38:52,960 --> 00:38:56,239
Speaker 1: in a media that's negative against Donald Trump, that are

694
00:38:56,239 --> 00:39:00,560
Speaker 1: basically in most cases functioning purely as left wing activists. Yes,

695
00:39:00,600 --> 00:39:02,600
Speaker 1: of course they're gonna run with that message to try to,

696
00:39:02,880 --> 00:39:05,879
Speaker 1: you know, get the suburban housewife to really believe these things.

697
00:39:06,040 --> 00:39:09,160
Speaker 1: But it's actually asinine. And you saw that in the speeches. Uh,

698
00:39:09,200 --> 00:39:11,239
Speaker 1: you know, whether it was herschel Walker or so many

699
00:39:11,280 --> 00:39:13,320
Speaker 1: others who's like, you know, I've known no Drump for

700
00:39:13,360 --> 00:39:15,680
Speaker 1: thirties seven years. I don't think a guy would be

701
00:39:15,800 --> 00:39:18,080
Speaker 1: racist who's letting his six year old son vacation with

702
00:39:18,200 --> 00:39:21,120
Speaker 1: me at Disney World, Like, that's not something a racist

703
00:39:21,160 --> 00:39:24,439
Speaker 1: actually does. The media doesn't cover those things because that's

704
00:39:24,480 --> 00:39:28,359
Speaker 1: how they like to pigeonhole Republicans and so I think

705
00:39:28,400 --> 00:39:30,719
Speaker 1: they've overplayed their hand on the issue. We take it

706
00:39:30,800 --> 00:39:32,960
Speaker 1: very seriously. It is something that's very important to us,

707
00:39:33,239 --> 00:39:34,839
Speaker 1: and I think you saw that because it came out

708
00:39:34,960 --> 00:39:36,960
Speaker 1: very much so in the speeches last night. I want

709
00:39:36,960 --> 00:39:39,520
Speaker 1: to talk about those collar counties outside of Philadelphia, those

710
00:39:39,560 --> 00:39:42,360
Speaker 1: swing districts in two thousand and eighteen that flipped from

711
00:39:42,360 --> 00:39:45,160
Speaker 1: from red to blue, and based upon my reporting and

712
00:39:45,200 --> 00:39:48,440
Speaker 1: the conversations that I have with members of the President's

713
00:39:48,480 --> 00:39:50,800
Speaker 1: re election campaign, the reporting pointing to the issue of

714
00:39:50,840 --> 00:39:53,279
Speaker 1: law and order, they're also pointing to the issue of

715
00:39:53,320 --> 00:39:58,719
Speaker 1: school at school choice, especially as it relates to families

716
00:39:59,239 --> 00:40:01,680
Speaker 1: looking at the rest in the cities and also looking

717
00:40:01,960 --> 00:40:04,000
Speaker 1: at whether or not to send their kids back to school.

718
00:40:04,160 --> 00:40:06,200
Speaker 1: It's a percent. I mean, I brought up school choice

719
00:40:06,200 --> 00:40:08,840
Speaker 1: in my speech last night, right this notion. You saw it.

720
00:40:09,120 --> 00:40:12,000
Speaker 1: Even the New York Times wrote that, well, the teachers Union,

721
00:40:12,000 --> 00:40:13,880
Speaker 1: they don't want to do in classroom weren't learning. So

722
00:40:13,960 --> 00:40:16,240
Speaker 1: assume that's okay, even though it's against what the CDC

723
00:40:16,360 --> 00:40:17,920
Speaker 1: is saying. It's against what fout you're saying. When it's

724
00:40:17,920 --> 00:40:21,440
Speaker 1: against fine, they also don't want to do remote learning.

725
00:40:21,520 --> 00:40:23,680
Speaker 1: Oh oh, that's wonderful. So they don't want to do

726
00:40:23,760 --> 00:40:25,960
Speaker 1: incluinence room or remote, but they still want to get paid.

727
00:40:26,480 --> 00:40:29,680
Speaker 1: That's the reality our our schools, our education system. We

728
00:40:29,760 --> 00:40:32,359
Speaker 1: spend more money per capita than any nation in the world,

729
00:40:32,360 --> 00:40:34,480
Speaker 1: and we're like twenty eight in the world, behind a

730
00:40:34,520 --> 00:40:37,319
Speaker 1: long list in many cases third world countries. There's not

731
00:40:37,400 --> 00:40:41,600
Speaker 1: a single metric by which our education system, in terms

732
00:40:41,680 --> 00:40:45,600
Speaker 1: of public education system outperforms anyone in the world ever

733
00:40:45,960 --> 00:40:49,279
Speaker 1: spending again more money per capita because we're beholden to

734
00:40:49,400 --> 00:40:51,800
Speaker 1: union bosses. So we want people, We want people in

735
00:40:51,880 --> 00:40:53,239
Speaker 1: inderstees to be able to choose to go to a

736
00:40:53,280 --> 00:40:55,960
Speaker 1: charter school, to be able to do whatever it is

737
00:40:56,000 --> 00:40:58,279
Speaker 1: that they want to be able to choose what's best

738
00:40:58,280 --> 00:41:00,880
Speaker 1: for their kids. I have five kids. Each one of

739
00:41:00,920 --> 00:41:02,960
Speaker 1: them is unique, Each one of them is different, Each

740
00:41:02,960 --> 00:41:05,000
Speaker 1: one of them learns a little differently. Each one has

741
00:41:05,040 --> 00:41:08,920
Speaker 1: a nuance. Parents understand what that is. You jam them

742
00:41:08,920 --> 00:41:12,160
Speaker 1: into an overcrowded classroom with the same nonsense and the

743
00:41:12,160 --> 00:41:14,200
Speaker 1: indoctrination that you're seeing in so many of the public

744
00:41:14,200 --> 00:41:16,880
Speaker 1: schools based on a union curriculum that's designed not for

745
00:41:16,920 --> 00:41:20,239
Speaker 1: the students but for the union you're never gonna get

746
00:41:20,280 --> 00:41:23,080
Speaker 1: great results, and to think that after years of failure,

747
00:41:23,160 --> 00:41:25,800
Speaker 1: that's magically going to change without actually addressing the issue

748
00:41:26,000 --> 00:41:28,680
Speaker 1: is nonsense. So I think anyone who's watching and seeing

749
00:41:28,680 --> 00:41:30,799
Speaker 1: how big an issue this is for the Republicans and

750
00:41:30,880 --> 00:41:33,920
Speaker 1: for their kids future of their education, I think it's

751
00:41:33,920 --> 00:41:35,520
Speaker 1: a no brainer. I've got a couple more questions. I

752
00:41:35,560 --> 00:41:37,360
Speaker 1: want to talk about the payroll tax cut, because that

753
00:41:37,400 --> 00:41:39,919
Speaker 1: was something you also alluded to yesterday. Uh, and it's

754
00:41:39,960 --> 00:41:42,680
Speaker 1: something that the economic world has said it's impossible to

755
00:41:42,680 --> 00:41:46,000
Speaker 1: to implement. It would be incredibly difficult in this particular

756
00:41:46,040 --> 00:41:49,440
Speaker 1: time to implement that. Businesses might opt in, they might

757
00:41:49,520 --> 00:41:52,200
Speaker 1: opt out, and whatnot. But in terms of from a

758
00:41:52,239 --> 00:41:55,560
Speaker 1: middle class, suburban perspective, what I'm gathering from the reporting

759
00:41:55,640 --> 00:41:58,160
Speaker 1: is that the president's re election campaign thinks that that's

760
00:41:58,200 --> 00:42:00,840
Speaker 1: something that suburban voters want. I think they do. I

761
00:42:00,840 --> 00:42:03,200
Speaker 1: think people want to decide what to do with their money,

762
00:42:03,200 --> 00:42:05,120
Speaker 1: not give it to big government. They see what big

763
00:42:05,120 --> 00:42:07,600
Speaker 1: government does. It's just a money pit, it's a drain.

764
00:42:07,640 --> 00:42:10,400
Speaker 1: It's where everything you know, good ideas and efficiency go

765
00:42:10,480 --> 00:42:12,920
Speaker 1: to die. We want you to decide what to do

766
00:42:12,960 --> 00:42:15,560
Speaker 1: with your money. So while Nancy Pelosi was fighting for

767
00:42:16,120 --> 00:42:19,480
Speaker 1: salt deductions for you know, billionaires in California, in New York,

768
00:42:19,480 --> 00:42:21,560
Speaker 1: and you know, even people like myself would benefit from that.

769
00:42:21,600 --> 00:42:23,719
Speaker 1: My father is actually trying to get money back into

770
00:42:23,840 --> 00:42:26,960
Speaker 1: middle class Americans pockets, no different than the other stuff

771
00:42:26,960 --> 00:42:29,200
Speaker 1: the Democrats were doing. You know, we want millions of

772
00:42:29,239 --> 00:42:31,400
Speaker 1: dollars for the Kennedy sents up for the arts. I'm

773
00:42:31,400 --> 00:42:34,040
Speaker 1: sure it's wonderful, it's a great thing. It's never gonna

774
00:42:35,760 --> 00:42:37,879
Speaker 1: whatever it may be. It may be a great thing

775
00:42:38,280 --> 00:42:41,040
Speaker 1: in time, but not during a pandemic, not when millions

776
00:42:41,040 --> 00:42:44,200
Speaker 1: of Americans lost their job. Like the American taxpayer actually

777
00:42:44,280 --> 00:42:48,120
Speaker 1: needs their taxpayer dollars back, and Washington d C. Doesn't

778
00:42:48,160 --> 00:42:50,399
Speaker 1: look at it as though it's taxpayer dollars. It's DC.

779
00:42:50,480 --> 00:42:53,360
Speaker 1: It's government spending. It's not government's money, it's taxpayer spending.

780
00:42:53,800 --> 00:42:55,919
Speaker 1: Wall Street right now, what do you think they don't

781
00:42:56,040 --> 00:43:00,680
Speaker 1: understand about? Are they're they're missing from the fiery rhetoric

782
00:43:00,719 --> 00:43:03,160
Speaker 1: on both sides that they're looking at this and they're

783
00:43:03,160 --> 00:43:05,680
Speaker 1: saying this is so volatile, this is a lot of

784
00:43:05,760 --> 00:43:08,040
Speaker 1: uncertainty and and and they don't know what to make

785
00:43:08,080 --> 00:43:11,560
Speaker 1: of it. What what what I'd say, look at your portfolios.

786
00:43:11,920 --> 00:43:14,400
Speaker 1: I mean Wall Street has performed onto the Trump administration

787
00:43:14,440 --> 00:43:16,920
Speaker 1: better than I mean, you just had more during a pandemic.

788
00:43:16,960 --> 00:43:20,120
Speaker 1: You had record SMP five, you had record as deck

789
00:43:20,200 --> 00:43:23,120
Speaker 1: break this week. You know, I think the results speak

790
00:43:23,160 --> 00:43:25,280
Speaker 1: for themselves. I mean, you had this slow growth Obama

791
00:43:25,320 --> 00:43:28,120
Speaker 1: thing this November nine. Trump doesn't even make a credit

792
00:43:28,160 --> 00:43:30,680
Speaker 1: for the sort of two month period between election day

793
00:43:30,680 --> 00:43:34,520
Speaker 1: and when he actually took office where businesses, small businesses

794
00:43:34,560 --> 00:43:37,480
Speaker 1: and big business alike said, wow, we have finally someone.

795
00:43:38,000 --> 00:43:39,719
Speaker 1: Not even even if he did nothing, at least he's

796
00:43:39,719 --> 00:43:42,120
Speaker 1: not going to be an enemy of business, with bureaucracy,

797
00:43:42,200 --> 00:43:47,640
Speaker 1: with inefficiency, with excessive regulation, excessive taxation. I mean, look

798
00:43:47,719 --> 00:43:50,080
Speaker 1: to your own stocks. I guarantee you they're doing better

799
00:43:50,120 --> 00:43:52,560
Speaker 1: than they wore under the Obama administration. So you know,

800
00:43:52,600 --> 00:43:54,880
Speaker 1: I get that sometimes once you get to these you know,

801
00:43:54,960 --> 00:43:57,279
Speaker 1: New York City billionaires, and you know, they just want

802
00:43:57,280 --> 00:43:58,879
Speaker 1: to be woke. They want to be loved because it's

803
00:43:58,960 --> 00:44:00,960
Speaker 1: much easier. It's not easy to be a conservative and

804
00:44:01,040 --> 00:44:03,000
Speaker 1: to be vocal and to fight for those things. So

805
00:44:03,239 --> 00:44:04,719
Speaker 1: it's easy to be woke when you're sitting in a

806
00:44:04,760 --> 00:44:07,480
Speaker 1: you know, a billion dollar home, and you know it's wonderful.

807
00:44:07,520 --> 00:44:10,800
Speaker 1: But I think you know again, real working class Americans.

808
00:44:10,840 --> 00:44:12,399
Speaker 1: I don't care about the stock market. I care about

809
00:44:12,400 --> 00:44:14,439
Speaker 1: your four oh one k. That's what my father cares about.

810
00:44:14,440 --> 00:44:17,000
Speaker 1: And I think that's what the American workers seeing their benefiting.

811
00:44:18,239 --> 00:44:22,120
Speaker 1: But Donald Trump Jr. The executive vice president of the

812
00:44:22,200 --> 00:44:25,600
Speaker 1: Trump Organization, coming up, panel reacts. They be Stoddard and

813
00:44:26,600 --> 00:45:00,319
Speaker 1: Lester Monson. I'm Kevin SERELLI. You're listening to Bloomberg. Yeah,

814
00:45:02,040 --> 00:45:05,239
Speaker 1: I love that song. That is my all time favorite song. Uh.

815
00:45:05,239 --> 00:45:07,680
Speaker 1: And the thing I love about this show, um, that

816
00:45:07,719 --> 00:45:11,240
Speaker 1: I'm proud of is that we featured voices on all

817
00:45:11,280 --> 00:45:14,640
Speaker 1: across the political ideology, and it is an opportunity for

818
00:45:14,680 --> 00:45:18,120
Speaker 1: you the listener to listen and to process and to

819
00:45:18,239 --> 00:45:21,120
Speaker 1: digest and take in as you choose. I don't want

820
00:45:21,120 --> 00:45:23,319
Speaker 1: to be the story. My name is Kevin Curreli. I'm

821
00:45:23,360 --> 00:45:27,920
Speaker 1: the chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

822
00:45:28,239 --> 00:45:31,040
Speaker 1: Today is the forty five anniversary. Do you believe this?

823
00:45:31,360 --> 00:45:36,640
Speaker 1: The forty five anniversary of Born to Run, the legendary

824
00:45:36,680 --> 00:45:39,359
Speaker 1: album by Bruce Springsteen. That is my favorite song. My

825
00:45:39,440 --> 00:45:41,719
Speaker 1: favorite lyric, well, there's two favorite lyrics that I have.

826
00:45:42,120 --> 00:45:44,640
Speaker 1: One of them is my high school yearbook quote, what

827
00:45:44,800 --> 00:45:47,040
Speaker 1: You've got They cannot steal it, No, they can't even

828
00:45:47,040 --> 00:45:49,839
Speaker 1: feel it. Walk on by YouTube. And that one it's

829
00:45:49,840 --> 00:45:52,200
Speaker 1: a town full of losers and I'm pulling out of

830
00:45:52,239 --> 00:45:55,120
Speaker 1: here to win. Uh. That's from thunder Road, which is

831
00:45:55,160 --> 00:45:58,399
Speaker 1: the greatest song ever. Abies Daughter, Associate editor, Real Clear

832
00:45:58,440 --> 00:46:01,640
Speaker 1: Politics and Lesser Months in Principle of Government Relations from

833
00:46:01,680 --> 00:46:03,759
Speaker 1: b g R Group. A B. Are you a Bruce fan?

834
00:46:05,680 --> 00:46:10,240
Speaker 1: I am not not at surly levels, but definitely um

835
00:46:10,600 --> 00:46:12,480
Speaker 1: hard to not be a Bruce fan. I love that

836
00:46:12,560 --> 00:46:16,080
Speaker 1: less There are you? I am? And I agree with

837
00:46:16,160 --> 00:46:19,279
Speaker 1: you on thunder Road, Kevin. It's one of the all

838
00:46:19,320 --> 00:46:22,520
Speaker 1: time greats. It really is. It's like poetic, you know

839
00:46:22,600 --> 00:46:25,160
Speaker 1: it's it's poetic. It really speaks to the Delpho guy

840
00:46:25,160 --> 00:46:29,839
Speaker 1: and me, especially these these days. Okay, it's time now

841
00:46:29,880 --> 00:46:31,840
Speaker 1: for my favorite part of the show, which is what

842
00:46:32,080 --> 00:46:37,600
Speaker 1: is on your radar? A B? What is on your radar? Um?

843
00:46:37,640 --> 00:46:41,799
Speaker 1: I'm just going to be looking to see if the

844
00:46:41,840 --> 00:46:43,839
Speaker 1: president gets a little bit of a bump. I think,

845
00:46:44,160 --> 00:46:47,880
Speaker 1: as I said before, he is using this convention to

846
00:46:48,000 --> 00:46:50,880
Speaker 1: appeal to his base, not so much reach out to

847
00:46:50,920 --> 00:46:54,560
Speaker 1: people beyond his coalition. But I think because his base

848
00:46:54,680 --> 00:46:57,920
Speaker 1: is eroded in support, he could see a little return.

849
00:46:58,239 --> 00:47:01,880
Speaker 1: Um And I'm going to be curious about those polls

850
00:47:01,920 --> 00:47:04,520
Speaker 1: and another ten days from now, all right, you know,

851
00:47:04,640 --> 00:47:07,120
Speaker 1: I think it will be fascinating, especially to see not

852
00:47:07,320 --> 00:47:10,399
Speaker 1: just how but how the cross tabs in the poll

853
00:47:10,440 --> 00:47:12,719
Speaker 1: go abe, especially if on the issue of the pandemic,

854
00:47:12,760 --> 00:47:14,640
Speaker 1: if that gets a bump at all. Uh. And and

855
00:47:14,719 --> 00:47:16,680
Speaker 1: to see what Mike Pence has to say. He's probably

856
00:47:16,680 --> 00:47:19,120
Speaker 1: one of the people that I'm really interested to see

857
00:47:19,800 --> 00:47:22,160
Speaker 1: what he has to say when he speaks. Uh. And

858
00:47:22,320 --> 00:47:24,720
Speaker 1: Rick Renell, who I bumped into at the Trump Hotel.

859
00:47:24,800 --> 00:47:27,360
Speaker 1: He was with Don Junior at the Trump Hotel. What

860
00:47:27,480 --> 00:47:29,000
Speaker 1: he's going to say as well, It's going to be

861
00:47:29,040 --> 00:47:33,200
Speaker 1: a really fascinating speech and moment for the convention as well. Lessar.

862
00:47:33,239 --> 00:47:37,960
Speaker 1: What's on your radar, Kevin? I thought your your interview

863
00:47:38,040 --> 00:47:43,160
Speaker 1: with UM uh, with with Trump Junior there was fascinating,

864
00:47:43,200 --> 00:47:48,000
Speaker 1: particularly him emphasizing this China deal, which you know I

865
00:47:48,120 --> 00:47:51,160
Speaker 1: view was a fantasm Uh. It's this is a deal

866
00:47:51,320 --> 00:47:55,480
Speaker 1: that was negotiated months ago, it's never really been implemented.

867
00:47:55,640 --> 00:47:59,399
Speaker 1: There was a phone call recently that makes people think

868
00:47:59,400 --> 00:48:02,320
Speaker 1: this is going to be reactivated. And I don't understand

869
00:48:02,360 --> 00:48:06,480
Speaker 1: the logic of the administration bragging about this deal, which

870
00:48:06,480 --> 00:48:08,600
Speaker 1: I don't think it's ever really going to come to fruition,

871
00:48:08,719 --> 00:48:11,319
Speaker 1: and I don't think other people do either. I think

872
00:48:11,320 --> 00:48:14,000
Speaker 1: the better play for the administration, frankly is to be

873
00:48:14,800 --> 00:48:17,280
Speaker 1: is to continue to be tough, tough, tough on China.

874
00:48:17,760 --> 00:48:20,520
Speaker 1: It's a real way to distinguish themselves from the Democrats,

875
00:48:20,719 --> 00:48:22,880
Speaker 1: and this kind of gets in the way of that message.

876
00:48:22,880 --> 00:48:25,200
Speaker 1: So I thought I found that very confusing. I'm going

877
00:48:25,280 --> 00:48:26,880
Speaker 1: to keep watching that issue. I thought it was. It

878
00:48:26,920 --> 00:48:29,160
Speaker 1: was a good interview. Thank you for saying that, you know,

879
00:48:29,200 --> 00:48:32,400
Speaker 1: I thought, I think it's interesting in terms of uh

880
00:48:32,880 --> 00:48:34,960
Speaker 1: the dynamic of the trade deal, and was something I

881
00:48:35,040 --> 00:48:37,200
Speaker 1: was talking about on The Open with Taylor Riggs, my

882
00:48:37,280 --> 00:48:42,080
Speaker 1: colleague on Bloomberg Television earlier today about the readout as

883
00:48:42,120 --> 00:48:46,080
Speaker 1: it's called, that came out of that phone call between

884
00:48:46,600 --> 00:48:49,759
Speaker 1: the President's economic team and of course Vice Premier Laha

885
00:48:49,880 --> 00:48:53,040
Speaker 1: Uh in Beijing, and they said that they're still on track,

886
00:48:53,760 --> 00:48:56,880
Speaker 1: as you mentioned, Lester to implement phase one of the

887
00:48:56,880 --> 00:48:59,719
Speaker 1: trade deal. However, if you if you look at the

888
00:48:59,719 --> 00:49:03,840
Speaker 1: track acting agricultural purchases and as it relates to to

889
00:49:03,960 --> 00:49:06,800
Speaker 1: China making good or rather not making good on their

890
00:49:06,840 --> 00:49:11,520
Speaker 1: on their word to to make agriculture purchases, it tells

891
00:49:11,520 --> 00:49:14,760
Speaker 1: a different story. So that's gonna be really really interesting.

892
00:49:14,800 --> 00:49:16,520
Speaker 1: And maybe just coming here before I tell you what's

893
00:49:16,520 --> 00:49:19,080
Speaker 1: on my radar, because coming here about this this streak

894
00:49:19,160 --> 00:49:22,120
Speaker 1: of populism that runs on both sides, because you understand

895
00:49:22,160 --> 00:49:25,000
Speaker 1: this better than anyone just in the Democratic Party and

896
00:49:25,160 --> 00:49:28,160
Speaker 1: on the and the Republican Party, this populism streak, and

897
00:49:28,200 --> 00:49:31,480
Speaker 1: how Joe Biden and Kamala Harris and and President Trump

898
00:49:31,719 --> 00:49:34,360
Speaker 1: and Vice President Pence are going to be making this

899
00:49:34,520 --> 00:49:39,000
Speaker 1: populist pitch and competitive pitch about the American worker being

900
00:49:39,000 --> 00:49:43,200
Speaker 1: competitive against China. Right, So it's going to be very

901
00:49:43,200 --> 00:49:46,239
Speaker 1: interesting to see how Biden calibrates his message on this.

902
00:49:46,480 --> 00:49:50,160
Speaker 1: Considering that they didn't do a lot of discussion of

903
00:49:50,640 --> 00:49:56,040
Speaker 1: the injurious economic policies, trade policies, tariffs, um that that

904
00:49:56,120 --> 00:50:00,160
Speaker 1: the Trump administration imposed on their own supporters in agg

905
00:50:00,360 --> 00:50:03,840
Speaker 1: and other sectors and so um, they dig us a

906
00:50:03,840 --> 00:50:06,879
Speaker 1: lot of the populism out of their convention. They were

907
00:50:06,920 --> 00:50:09,360
Speaker 1: really playing to the center right to independence and former

908
00:50:09,680 --> 00:50:12,960
Speaker 1: Republicans and making sure that those voters who were persuadable

909
00:50:13,000 --> 00:50:15,600
Speaker 1: in their view didn't think Biden was scary. So I'm

910
00:50:15,600 --> 00:50:18,319
Speaker 1: going to be curious to see as Trump ramps it

911
00:50:18,400 --> 00:50:23,040
Speaker 1: up and goes after China, blames the entire pandemic on

912
00:50:23,080 --> 00:50:26,040
Speaker 1: the Chinese UM and and and really digs in on

913
00:50:26,120 --> 00:50:29,960
Speaker 1: that as a message UM with regard to trade. It's

914
00:50:30,000 --> 00:50:32,040
Speaker 1: going to be really interesting to see what Joe Biden

915
00:50:32,080 --> 00:50:34,239
Speaker 1: actually says about that stuff, because I think he does

916
00:50:34,400 --> 00:50:37,080
Speaker 1: know after the convention that that was a hole in

917
00:50:37,120 --> 00:50:39,360
Speaker 1: their convention and their messaging that they have to return

918
00:50:39,440 --> 00:50:42,880
Speaker 1: to that and speak to those voters. And how he

919
00:50:42,960 --> 00:50:46,800
Speaker 1: threads that, especially with regards to like a renegotiated TPP,

920
00:50:46,960 --> 00:50:49,680
Speaker 1: will be really interesting. I was so shocked by that too,

921
00:50:49,719 --> 00:50:51,560
Speaker 1: A b I'm so glad you mentioned that, because I

922
00:50:51,600 --> 00:50:54,400
Speaker 1: was absolutely blown away lesser months in principle of government

923
00:50:54,400 --> 00:50:58,040
Speaker 1: relations from BGR group that they did not mentioned China,

924
00:50:58,080 --> 00:51:00,719
Speaker 1: because when I talked to Tony Blanket, They're all China

925
00:51:00,800 --> 00:51:03,120
Speaker 1: at the time, you know, when I even Sheila Jackson

926
00:51:03,560 --> 00:51:06,000
Speaker 1: Lee Sheila Lee Jackson. You know when I when I

927
00:51:06,040 --> 00:51:09,399
Speaker 1: talked to her, she's she's talking about China as well.

928
00:51:09,400 --> 00:51:12,480
Speaker 1: So I was really struck, and I quite honestly, do

929
00:51:12,520 --> 00:51:14,400
Speaker 1: you think it was a missed opportunity, Lester for the

930
00:51:14,440 --> 00:51:18,360
Speaker 1: Democrats not to talk about China. I do think it

931
00:51:18,440 --> 00:51:21,320
Speaker 1: was a missed opportunity. It's it's really an issue where

932
00:51:21,440 --> 00:51:25,279
Speaker 1: the two parties are largely in agreement. Certainly on the

933
00:51:25,360 --> 00:51:29,160
Speaker 1: hill they are. UM, It's something that that is definitely

934
00:51:29,239 --> 00:51:33,920
Speaker 1: moving in the grassroots both parties. The Southern Baptist convention

935
00:51:34,080 --> 00:51:37,040
Speaker 1: is now focused on the plight of the weakers in

936
00:51:37,120 --> 00:51:41,000
Speaker 1: Western China or a genocide maybe going on. UM, there's

937
00:51:41,040 --> 00:51:43,400
Speaker 1: there's a real opportunity here for Biden to reach out

938
00:51:43,440 --> 00:51:46,839
Speaker 1: to those folks, and those are those voters might be

939
00:51:46,880 --> 00:51:50,320
Speaker 1: persuadable for him given some of the concerns with Trump.

940
00:51:50,719 --> 00:51:52,719
Speaker 1: So yeah, I think famous opportunity, But I also think

941
00:51:52,760 --> 00:51:56,719
Speaker 1: it's in the context of their convention was largely policy free.

942
00:51:56,800 --> 00:51:59,759
Speaker 1: It was it was about character, it was about celebrating

943
00:51:59,760 --> 00:52:02,960
Speaker 1: the city. It was about, um, you know, these are

944
00:52:03,000 --> 00:52:05,960
Speaker 1: good people versus Trump is a bad guy. It was

945
00:52:06,120 --> 00:52:11,160
Speaker 1: it was really very light on all policy areas. Overall,

946
00:52:11,239 --> 00:52:14,440
Speaker 1: the whole thing was way too white on polic ethos.

947
00:52:14,480 --> 00:52:16,239
Speaker 1: Here's the thing that's on my radar, because I would

948
00:52:16,320 --> 00:52:19,160
Speaker 1: much rather talk to you politics than domestic politics, if

949
00:52:19,200 --> 00:52:21,160
Speaker 1: you really want to know, I'm a nerd at heart,

950
00:52:21,480 --> 00:52:23,520
Speaker 1: and I would love to talk all about the shifting

951
00:52:23,520 --> 00:52:26,520
Speaker 1: geopolitical lester. You know this because you know we I

952
00:52:26,680 --> 00:52:29,160
Speaker 1: I geek out over this stuff, but it's it's a

953
00:52:29,239 --> 00:52:32,400
Speaker 1: it's a sign of the times. China's top diplomat is

954
00:52:32,440 --> 00:52:36,719
Speaker 1: actually touring Europe this week, Wang Ye, and he's going

955
00:52:36,760 --> 00:52:39,800
Speaker 1: to five European countries. And this, of course, as the

956
00:52:39,960 --> 00:52:42,560
Speaker 1: as I told you earlier in the program, China's economy

957
00:52:42,800 --> 00:52:46,480
Speaker 1: is doing better than the market had anticipated that they

958
00:52:46,480 --> 00:52:48,120
Speaker 1: had thought that they were going to do. It's actually

959
00:52:48,120 --> 00:52:50,400
Speaker 1: anticipated to grow at a rate of about two percentage

960
00:52:50,400 --> 00:52:53,920
Speaker 1: points GDP, as opposed to the one point something percentage

961
00:52:53,920 --> 00:52:57,040
Speaker 1: point that the market watchers had estimated. They're the only

962
00:52:57,640 --> 00:53:01,919
Speaker 1: economy in the world uh AT is growing this year,

963
00:53:02,360 --> 00:53:06,640
Speaker 1: and so that is remarkable when you look at this

964
00:53:06,719 --> 00:53:09,400
Speaker 1: in terms of the year. There's also a new report

965
00:53:09,400 --> 00:53:13,759
Speaker 1: out that Chinese diplomats helped visiting military scholars in the

966
00:53:13,840 --> 00:53:19,759
Speaker 1: United States evade FBI scrutiny, according to US officials that

967
00:53:19,880 --> 00:53:23,319
Speaker 1: from the Wall Street Journal. So a ton happening on

968
00:53:23,360 --> 00:53:26,680
Speaker 1: the China front this week during the convention, and a

969
00:53:26,719 --> 00:53:28,719
Speaker 1: ton happening last week as well, but we are going

970
00:53:28,760 --> 00:53:31,400
Speaker 1: to keep our eye on all of it. Abe Stoddard,

971
00:53:31,440 --> 00:53:33,840
Speaker 1: Associate editor at Real Clear Politics. Thank you a b

972
00:53:34,040 --> 00:53:37,840
Speaker 1: Thank you truly, thanks for making thank you wonderful. And

973
00:53:37,920 --> 00:53:41,160
Speaker 1: Lester and Lester months in principle of government relations from

974
00:53:41,200 --> 00:53:43,719
Speaker 1: bg R Group. Thank you sir as well for your time.

975
00:53:43,719 --> 00:53:45,640
Speaker 1: I hope both of you stay well. Be will and

976
00:53:45,719 --> 00:53:48,919
Speaker 1: thank you for listening to Bloomberg. Uh and I'm headed

977
00:53:48,960 --> 00:53:51,160
Speaker 1: to the White House. We're gonna do the coverage. Tune

978
00:53:51,160 --> 00:53:53,879
Speaker 1: in you're listening to. Bruce is going to take us out.

979
00:53:53,960 --> 00:53:58,960
Speaker 1: This is just forty five years. It's too good. It's

980
00:53:58,960 --> 00:54:01,480
Speaker 1: too good. And all the acoustic stuff he's releasing on

981
00:54:01,560 --> 00:54:04,000
Speaker 1: this album the best. You're listening to bliebarg n and

982
00:54:04,000 --> 00:54:08,200
Speaker 1: I wanted you feel s