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Speaker 1: This is Bloomberg Surveillance says, if a big bank gets

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Speaker 1: into trouble, the people put their money there, other than

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Speaker 1: the insure deposits, you will expect to take losses. Wulfeck

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Speaker 1: and cease to exists as an affected cartel. The action

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Speaker 1: has shifted to American fractors. There's a large amount of

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Speaker 1: debt out there and there's very little room in most countries,

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Speaker 1: with the exception of China, for more fiscal stimulus. Bloomberg

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Speaker 1: Surveillance your link to the world of economics, finance, and investment.

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Speaker 1: On Bloomberg Radio, Good morning, everyone is super Tuesday nationwide.

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Speaker 1: This is Bloomberg Surveillance. Good morning of Bloomberg nine sixty

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Speaker 1: the Bay Area, Bloomber twelve, Boston, Blooming eleven three oh

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Speaker 1: in New York, and here in Washington FM. We said

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Speaker 1: good morning to all of Washington and Baltimore and on

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Speaker 1: Serious Sex Temp Channel one nineteen, across Canada and across America.

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Speaker 1: It will be a most unusual day. I can't say

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Speaker 1: enough about our plans for coverage. You're led by Marty

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Speaker 1: Schenker from Washington on government and economics today leading up

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Speaker 1: to with all due respect, Mark Alpert and John Hilman.

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Speaker 1: Look for that tonight, a special broadcast to make you

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Speaker 1: smarter about what are presumed and I mean presumed landslides

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Speaker 1: for Secretary Clinton and Mr Trump. Will see how that

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Speaker 1: plays out, particularly in the Great state of Texas. Right now,

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Speaker 1: we need to do the great state of the foreign

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Speaker 1: exchange market. The Forex Brief brought to my Interactive Broker's

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Speaker 1: to the markets the euro one O eight seventy five

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Speaker 1: again one thirteen oh four as well. Michael's got some

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Speaker 1: news out as well. Yeah, we have a headline crossing

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Speaker 1: the Boomberg Professional terminal here. Honeywell is no longer going

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Speaker 1: to pursue accommodation with United Technologies, so they're giving up

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Speaker 1: on that effort. And that's an interesting backstory from our

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Speaker 1: our work with Michael Holland and Peter Arenett of stern

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Speaker 1: Age particularly. Both of them focused Mike on how the

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Speaker 1: Honeywell board would react to the spirited effort to go back.

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Speaker 1: Both were rather pessimistic about the immediate acquisition of Honeywell

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Speaker 1: acquiring U t X. Yes, we will well it, says UM.

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Speaker 1: Honeywell disagrees with U t x is characterization of the

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Speaker 1: deal risk, but apparently United Technologies unwilling to negotiate. According

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Speaker 1: to Honeywell, concerned about I guess anti trust the other possibilities.

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Speaker 1: We have no choice. We can't negotiate. We must go

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Speaker 1: to David Wilson and look at the markets this morning. David,

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Speaker 1: good morning, Good morning Tom. You're seeing an immediate reaction

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Speaker 1: in the shares of both United Technologies and Honeywell to

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Speaker 1: the news that these companies are no longer potential merger

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Speaker 1: targets UH. United Technologies down four percent in early training

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Speaker 1: and Honeywell up about three percent. The Chrysler's up four percent.

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Speaker 1: The carmakers US sales rose eleven point eight percent last month.

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Speaker 1: That was faster than analyst expected the average projection calling

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Speaker 1: for growth of nine point two percent. Sales figures from

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Speaker 1: Ford Motor and General Motors are due later today, so

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Speaker 1: the auto stocks will be worth watching. UH shares of

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Speaker 1: Macau casino owners are higher after the Chinese city said

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Speaker 1: February revenue fell just one tenth per percent. That was

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Speaker 1: actually the best performance in twenty one months. Analyst expected

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Speaker 1: to drop a two percent on average. So you've got

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Speaker 1: Los Vegas Sands hired by two percent, Mjam Resorts up

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Speaker 1: two and a half percent, Win Resorts up three percent,

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Speaker 1: and Melco Crown also about three percent higher. In early trading,

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Speaker 1: met Tronic down four and a half percent. The medical

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Speaker 1: device makers earnings failed to beat the average estimate in

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Speaker 1: the Bloomberg survey for the first time in five quarters.

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Speaker 1: Metronics revenue trailed analysts average projections as well. Marathon Oil

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Speaker 1: down four and a half percent. The energy producer raised

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Speaker 1: one point one billion dollars by some a hundred forty

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Speaker 1: five million shares, equivalent to an eighteen percent steak. Marathon

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Speaker 1: following the lead of Devon Energy, Hess and other oil

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Speaker 1: care Enter Continental Exchange down one percent. The owner of

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Speaker 1: the New York Stock Exchange is exploring an offer for

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Speaker 1: the London Stock Exchange, which is in merger talks with

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Speaker 1: Joy Deutsche bors Ice confirmed a report from Bloomberg News

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Speaker 1: yesterday about the deliberations and uh why not. Son Edison

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Speaker 1: down twenties six percent. The solar plant developer de lated

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Speaker 1: t annual report to US regulators. Son Edison attributed the

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Speaker 1: postponent to a probe into accusations of financial wrongdoy made

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Speaker 1: by former executives as well as current and former employees.

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Speaker 1: David Wilson, thank you so much. We've write digressed now

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Speaker 1: from our political economics of the morning to talk FED

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Speaker 1: and monetary policy. Thirty five years ago. He was in

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Speaker 1: the sub sub sub sub basement of the FED were

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Speaker 1: of Research. This means he's the only guy we know,

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Speaker 1: Mike who won't blather on about the dots, got to

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Speaker 1: He he ended up as director of the Division of

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Speaker 1: Research and Statistics at the Board of Governors. Now works

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Speaker 1: helped put together and present the teal book, the FEDS

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Speaker 1: compilation of how things are going in the economy and

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Speaker 1: the markets, along with various possible monetary policy options that

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Speaker 1: they go over at every meeting. So give us a

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Speaker 1: teal book look at the economy right now, particularly the

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Speaker 1: idea that the markets are seeing something that we're not

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Speaker 1: the key question that the FED is going to be

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Speaker 1: struggling with this point. You know, I think the issue

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Speaker 1: is the tension between the relatively UH well maintained growth

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Speaker 1: there was some UH weakening of the economy and the

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Speaker 1: fourth quarter, things look like they're bouncing back to a

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Speaker 1: two percent range here in the current quarter. I think

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Speaker 1: the FED is going to be both concerned about the

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Speaker 1: consequences of the financial tightening that's taken place since their

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Speaker 1: December meeting UM, but not necessarily yet buying into a

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Speaker 1: they be a self fulfilling prophecy. It can be, And

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Speaker 1: think there can be some self fulfilling prophecy. On the

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Speaker 1: other hand, if some of the rits, some of the

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Speaker 1: financial conditions, that we would be reinforced by improving economic data,

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Speaker 1: and in fact that would put the fedback on a

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Speaker 1: path of its gradual tightening. The word we're using a

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Speaker 1: lot is uncertainty. Chairman Greenspan, use the word advice Chairman

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Speaker 1: Fisher recently user or you're the king of degrees of confidence?

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Speaker 1: Do you have confidence in our guestimate of our uncertainty.

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Speaker 1: So that's a good question, you know. I try to

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Speaker 1: avoid always saying now is more uncertain than it's ever

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Speaker 1: been before. The economists are almost always saying that yes,

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Speaker 1: But in this case it might actually be true. I

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Speaker 1: think we're facing a broader range of uncertainties, not just

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Speaker 1: economic uncertainties, and not just economic uncertainties abroad, but also

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Speaker 1: geopolitical uncertainties that we see the geopolitical uncertainties in Europe,

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Speaker 1: in Asia, in the Middle East. I think all of

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Speaker 1: that is is weighing on on UH certainly business sentiment,

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Speaker 1: less so on consumer sentiment remains, which remains relatively well maintained. UM.

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Speaker 1: But I do think businesses in particular, you can see

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Speaker 1: it in the investment data themselves just very reluctant to

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Speaker 1: the uncertainties of their Thingsan Greenspan, Yeah, well you you

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Speaker 1: are also UH the chief macro economist at l H.

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Speaker 1: Meyer Larry Meyers firm. When you talk to clients, what

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Speaker 1: is it that they're afraid of? Why are they holding back?

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Speaker 1: What needs to change for them to start investing? So

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Speaker 1: I think a couple of things. One would be some clarification,

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Speaker 1: certainly on the geopolitical front that there aren't any major

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Speaker 1: UH breaks here that would cause some significant problems, and

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Speaker 1: of course those have been reinforced recently by the migrants

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Speaker 1: in Europe. But I think in addition to that, there's

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Speaker 1: a general sense that concern that in fact China is

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Speaker 1: weakening more than people currently anticipate, and that that could

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Speaker 1: have major spillovers to the global economy. And I think

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Speaker 1: they right now are reluctant UH in that environment with

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Speaker 1: a downside risk that might be associated with not just

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Speaker 1: for China, spillovers to emerging markets and then feedback in

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Speaker 1: terms of our own financial markets and the time we

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Speaker 1: got left with you. You work with Lawrence Meyer, the

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Speaker 1: former governor. His wonderful book A Ternam at the Fed.

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Speaker 1: I tell every kid to read. It was a time

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Speaker 1: of a different communication. Is there too much communication now

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Speaker 1: in your world? Is the FED so um? I would

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Speaker 1: say there's not necessarily too much in quantity. I think

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Speaker 1: communication is always good, but unfortunately in terms of the

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Speaker 1: quality of that communication I think has suffered some. I

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Speaker 1: do think the FED is UH not sort of bringing

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Speaker 1: I think communication could be reinforcing a sense of where

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Speaker 1: the uncertainties were, but instead we have many different UH

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Speaker 1: speakers to the FED that are I think, perhaps increasing

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Speaker 1: the uncertainty about the outlook for policy, then reducing it

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Speaker 1: or at least highlighting where the uncertainties are going to be. Well.

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Speaker 1: We want to continue this discussion with you, David Stockton,

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Speaker 1: with us with the Peterson Institute for International Economics, and

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Speaker 1: also with L. H. Meyer. Is to be direct and esteemed.

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Speaker 1: UH analysis of the American economy, futures up thirteen, down,

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Speaker 1: futures up eighty seven this morning, um a quiescent tate.

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Speaker 1: Maybe that's because politics is front and center. I promise

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Speaker 1: we're gonna talk to David Stockton. I don't think we'll

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Speaker 1: get into the America's politics. Can you somehow get Super

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Speaker 1: Tuesday into it? Mike, there's a challenge. There's a challenge

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Speaker 1: we'll get. We'll get politics into our discussion with David

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Speaker 1: Stockton to get futures up thirteen. All right, let's check

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Speaker 1: it with Michael Yer now and get the latest world

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Speaker 1: in national headlines. Michael, Mike, Tom, thank you very much. Today.

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Speaker 1: Voters in several states so heading to the polls you

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Speaker 1: vote in primaries for Super Tuesday, and Democrat Bernie Sanders

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Speaker 1: already has voted in his hometown of Burlington, Vermont, saying

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Speaker 1: your voter turnout is high. We are going to do well.

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Speaker 1: Front runner Donald Trump says it is the media that

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Speaker 1: keeps controversy going, involving former KKK leader David Duke, who

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Speaker 1: has told people to support Trump. Trump says he has

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Speaker 1: disavowed Duke several times. Bloomberg will have NonStop Super Tuesday

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Speaker 1: coverage throughout the night, starting with a special edition of

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Speaker 1: With All Due Respect starting at five pm Wall Street Time.

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Speaker 1: The United States has asked the U N Security Council

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Speaker 1: to schedule a vote today on the resolution that was

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Speaker 1: set new sanctions against North Korea. It's in response to

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Speaker 1: Beyond Gang's latest nuclear test. President Obama will meet later

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Speaker 1: today with Republican Senate leaders who have vowed to block

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Speaker 1: his nomination to the U. S. Supreme Court. Global News

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Speaker 1: twenty four hours a day. I'm Michael Barn, Mike Tom,

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Speaker 1: Michael Bart, Thanks so much. Futures up thirteen ridges of mine.

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Speaker 1: You won the super Tuesday from Washington. Bloomberg Surveillance. Marcot

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Speaker 1: slash cme group. The automakers are reporting their US sales

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Speaker 1: figures for a February for It adjust out saying sales

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Speaker 1: rose more than twenty percent, beating analysts estimates. Nissan also beat,

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Speaker 1: as did Fiat Chrysler Unsack Index futures. Meanwhile, higher SNP

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Speaker 1: Emni futures up thirteen points, Dowie Mini futures of eighty

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Speaker 1: eight and Nasdachi mini futures have thirty one dacks. In

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Speaker 1: Germany's have one and a half percent ten. Your treasury

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Speaker 1: up to thirty seconds, the yield one point seven two percent.

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Speaker 1: No max Scrude oil up nine tenths per cent or

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Speaker 1: twenty nine cents at thirty four oh for a barrel

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Speaker 1: Comex gold up six tenths percent or seven dollars sixty

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Speaker 1: cents at twelve twenty an ounce. The euro a dollar

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Speaker 1: oh eight seven one, the n one thirteen point oh eight.

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Speaker 1: That's a Bloomberg business flash. Tom and Mike, thanks so much,

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Speaker 1: Karen greatly appreciate it. Good morning everyone, Bloomberg's surveillance from

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Speaker 1: Washington this Super Tuesday. We welcome all of you. Right now,

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Speaker 1: do we just talk about econometrics, about the greater economy

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Speaker 1: in the macroeconomics of the nation. Let's talk about the

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Speaker 1: statistical analysis. Who's going to vote? Tom Vannier is with

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Speaker 1: clarity and has been instrumental clarity campaign labs Target Target

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Speaker 1: smart right. I can't keep track of the names. I mean,

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Speaker 1: we're switching from progressive back to liberal as well. But

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Speaker 1: we're gonna talked now to someone who actually tries to

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Speaker 1: figure out what we're going to do. How is the

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Speaker 1: world now different than the simple days of the gallop pole.

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Speaker 1: It's it's really infinitely different in so many ways. Um.

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Speaker 1: You know, when we look at at the really the

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Speaker 1: last two presidential campaigns, the we look at especially President

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Speaker 1: Obama's campaigns, but also John McCain, uh Mitt Romney presidential

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Speaker 1: campaigns have become billion dollars startups that they ramp up

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Speaker 1: in no time and they're very high stakes and so

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Speaker 1: uh to go along with that, there's been uh more

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Speaker 1: accountability and how these campaigns spend their money and a

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Speaker 1: big part of that is data. Uh, it's data driven

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Speaker 1: decision making. Um. And and really the sort of data

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Speaker 1: that is available to campaigns today uh is infinitely different

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Speaker 1: from what campaigns used years ago, where really they relied

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Speaker 1: on relatively small sample survey a long surveys, but they

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Speaker 1: would dig deep into messaging and they deal with the

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Speaker 1: overall strategy, but they really didn't deal with the micro

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Speaker 1: aspects of campaigns really because they didn't have to, because

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Speaker 1: campaigns didn't really have the capacity nor the ability to

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Speaker 1: communicate on a one to one basis like we do

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Speaker 1: now you can, and you've worked for Democrats for years. Uh,

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Speaker 1: tell me who votes when Hillary Clinton and Bertie Sanders

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Speaker 1: face off in his state? Um, you know who's going

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Speaker 1: to vote, that's right? And and who is whose supporters

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Speaker 1: are actually getting out and voted. Well. Uh, So we

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Speaker 1: have an entire process that we go through where we

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Speaker 1: model the electorate and we actually apply probabilities to every

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Speaker 1: single voter a million rested voters in this country, and

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Speaker 1: we have a zero to one probability score assigned every

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Speaker 1: voter on the likelihood that they're going to vote in

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Speaker 1: both the primary election the general election. Now, generally these

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Speaker 1: primaries Uh, the people who vote tend to be older.

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Speaker 1: Other people have voted more in past elections. And really

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Speaker 1: the pattern that we've seen and the Democratic primary at

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Speaker 1: least thus far, has been fairly standard. And in the

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Speaker 1: two thousand and eight primary, you saw more younger uh,

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Speaker 1: more African American War Latino voters participate in the primaries, uh,

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Speaker 1: and and and that pattern is holding for the most part.

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Speaker 1: There's nothing all together unusual about the turnout pattern. Bernie

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Speaker 1: Sanders hasn't encouraged some more younger voters to participate in

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Speaker 1: some of the early states thus far, but early not

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Speaker 1: enough to make a substantial difference. So you get a

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Speaker 1: call tomorrow morning from Donald Trump's people and they say,

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Speaker 1: we love what you do. We know you're on the

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Speaker 1: other side of the fence. When you get a consultant

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Speaker 1: to tell us what to do, what's your advice to

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Speaker 1: a guy who, it appears to me hasn't done much

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Speaker 1: data collection? Well, well, well, first of all, I'd likely

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Speaker 1: tell him to take a hike, because not your offense,

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Speaker 1: yet not my side of the fence. The Trump campaign

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Speaker 1: is really fascinating, and that uh, he is running one

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Speaker 1: of the least sophisticated camp pains in terms of data technology,

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Speaker 1: uh analytics, yet he continues to win. It's it's a

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Speaker 1: very gut instinct driven campaign. He's obviously a very smart businessman.

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Speaker 1: He can walk into a room and he can know

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Speaker 1: immediately what people want to hear. And the room he's

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Speaker 1: in now is the Republican primary, and so he's saying

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Speaker 1: things that those people want to hear. I think we

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Speaker 1: hear something very different in the general election. Uh but

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Speaker 1: he has shunned the traditional concept of even pulling something

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Speaker 1: the campaigns have been doing for decades, where he somewhat

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Speaker 1: famously said, why should we pull when the media is

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Speaker 1: doing it for us? Anyhow? Uh So, so my advice

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Speaker 1: as a Democrat would be to keep doing what you're doing,

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Speaker 1: because he's really wreaking havoc on the Republican Well that's

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Speaker 1: where I want to go next. Um, if Trump is

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Speaker 1: a nominee, there's a lot of talk about what happens

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Speaker 1: down ballot. What do your numbers suggest? Do you have

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Speaker 1: enough information enough data to be able to make a forecast? Well,

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Speaker 1: I'll add this caveat at the outset that that Donald

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Speaker 1: Trump and in this election year, has made a lot

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Speaker 1: of very smart pundits look very stupid thus far. I

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Speaker 1: don't think anyone would have guessed or predicted that he

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Speaker 1: would be where he is now. It's I could look

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Speaker 1: anywhere and and and be accurate with that, even in myself.

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Speaker 1: So uh so uh In terms of predicting the impact,

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Speaker 1: uh A smart money would say that he would have

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Speaker 1: a catastrophic impact on Republicans up and down the ticket.

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Speaker 1: Uh and and and hearing your your guests earlier today,

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Speaker 1: Vin Weber, Secretary Cohen, it's it's really remarkable to hear

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Speaker 1: people like that running so far away from but the

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Speaker 1: way the districts have been jerry mandering, jerry mandering is

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Speaker 1: a significant issue, and we could talk about that for hours.

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Speaker 1: It's it's it's likely at the root of a lot

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Speaker 1: of the problems that this country is facing right now.

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Speaker 1: And so that does insulate uh a number of districts

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Speaker 1: against the way. But waves do happen, and we saw

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Speaker 1: them happen. That happened in We've seen that happen in

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Speaker 1: two thousand six when Democrats took the House back. So

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Speaker 1: this is really an unusual election year we're headed into.

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Speaker 1: So I think all bets are off and that's why

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Speaker 1: you're seeing so many uh nervous members of Congress on

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Speaker 1: that side. I didn't even have time to talk to

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Speaker 1: you today, Tom Bonnier, about the strange transformation from from

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Speaker 1: liberal to progressive in liberal as well. Please can we

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Speaker 1: speak to you again sometime soon? I would love that,

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Speaker 1: Thanks so much. When listening FM Washington and Baltimore, We've

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Speaker 1: got a lot to talk about on Super Tuesday, about

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Speaker 1: our economics, about our politics. Trying to give you that

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Speaker 1: this morning, a little less hysterian, a more uh take

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Speaker 1: towards information that you can use to help form your decision.

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Speaker 1: Futures up, four Team down, Futures up. This Bloomberg surveillance.

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Speaker 1: We are counting down to the opening bill, brought to

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Speaker 1: you by the Grand Cherokee, the most awarded suv ever.

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Speaker 1: The Grand Cherokee continues to raise the bar with its

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Speaker 1: luxurious interior and legendary four by four capability. Drive on

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Speaker 1: at your local jeep dealer today broadcasting live to New York,

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Speaker 1: Bloomberg eleventh, RYO through Washington, d C, Bloomberg one to Boston,

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Speaker 1: Bloomberg twelve one to San Francisco, Bloomberg to the country

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Speaker 1: sees XM Channel one ninety and around the globe the

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Speaker 1: Bloomberg Radio Plus appen Bloomberg dot com. This is Bloomberg Surveillance.

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Speaker 1: Good morning, I'm terror in Moscow and the opening gal

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Speaker 1: brought to you by se I Imagine, a global operating

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Speaker 1: platform designed to deliver a differentiated and technologically rich investor experience.

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Speaker 1: Find out how I see I can help you succeed

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Speaker 1: at se i c dot com. Slash Imagine and bocs

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Speaker 1: are higher at the open. The SNP five hundred is

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Speaker 1: up six tens per cent or eleven points to nineteen

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Speaker 1: forty three Dow Jones Industrial average of four ten percent

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Speaker 1: or seventy one points to sixteen thousand, five hundred eighty seven,

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Speaker 1: and then a stack up nine ten percent or forty

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Speaker 1: points to forty eight ten year Treasury up one thirty second,

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Speaker 1: the yield one point seven two percent yield on the

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Speaker 1: two year point seven seven percent nimex scrude oil. It'll

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Speaker 1: change at thirty three dollars seventy five cents in barrel.

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Speaker 1: Comics called up half percent or six dollars seventy cents

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Speaker 1: to twelve forty one. Announced the euro a dollar oh

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Speaker 1: eight fifty five, then one thirteen point one, eight, Tom

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Speaker 1: and Mike, and thank you so much, Bloomberg seven. Lets

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Speaker 1: from the nation's capital on the Super Tuesday from a

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Speaker 1: news bureau in Washington. Good Morning, FM Washington, Bloomberg eleventh,

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Speaker 1: three oh New York, in Boston, in San Francisco in

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Speaker 1: good morning. Across the South, What is it like SEC,

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Speaker 1: the Southern, Southeast, FM Eastern the Southeastern Conference, which is

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Speaker 1: the state of the nation. I'm not a football fan,

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Speaker 1: but anyways, it is the SEC. Like Super Tuesday, it

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Speaker 1: would be nice, Mike to know what the economy is

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Speaker 1: actually doing well, so much attention this Super Tuesday focused

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Speaker 1: on the South and centered around the state of Georgia.

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Speaker 1: Professor Rajiv Down at Georgia State University is the director

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Speaker 1: of the Economic Forecasting Center there at the Robinson School

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Speaker 1: of Business in Atlanta, so he's sort of at the

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Speaker 1: center of the SEC primary university. We wanted to talk

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Speaker 1: with him about what the economy is like they're right

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Speaker 1: now and why we are seeing people uh so enthusiastic

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Speaker 1: about someone like Donald Trump. Good morning to you. Professor

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Speaker 1: Down uh described the economy of the Southeast and how

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Speaker 1: it's playing out for people maybe on the lower socio

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Speaker 1: end of the socio economic scale. You know, the economy

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Speaker 1: in the Southeast has a very big, you know, spectrum,

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Speaker 1: like a broad spectrum. If you look at Texas, it's

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Speaker 1: not doing very well now, and we all know it's

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Speaker 1: because of the shale oil gas prices being down. And

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Speaker 1: on the other hand, we have Florida and Georgia which

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Speaker 1: are doing very well because we didn't have the shale

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Speaker 1: gas revolution, so we were insulated from it. So we

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Speaker 1: are suffering from the global headwinds a little bit because

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Speaker 1: we have the board activity. We have manufacturing over here,

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Speaker 1: cars and autos, and we also have a lot of tourism. Well,

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Speaker 1: we think in terms of the South often, as you know,

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Speaker 1: the leftovers of the textile industry, that sort of thing.

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Speaker 1: We don't focus as much on manufacturing. How inaccurate is

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Speaker 1: the general view of the Southern economy. You know, this

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Speaker 1: was the view of the early nineties when the textile

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Speaker 1: mills were being closed down and they were very big

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Speaker 1: proportion of the manufacturing over here. But the manufacturing has

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Speaker 1: changed quite a bit now. We have a lot more

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Speaker 1: paper and pulp products as we called the forestry. We

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Speaker 1: also have a lot of food processing and also have

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Speaker 1: a lot of auto manufacturing plants, both here in Georgia, Alabama,

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Speaker 1: South Carolina. I mean, you name it, they are here.

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Speaker 1: So the foreign auto manufacturers have come and put up

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Speaker 1: their base in the southeast of the U. S. Because

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Speaker 1: it's the right to work states and they don't have

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Speaker 1: too much unionization and when you start from scratch, you

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Speaker 1: can have the more basic productivity results. You know, what

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Speaker 1: does your take on the politics that we've observed, Oh,

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Speaker 1: in the last two weeks, even four weeks, across the

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Speaker 1: Super Tuesday States. You witnessed it personally in Georgia, I

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Speaker 1: understand major candidates populating Texas and moving on to some

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Speaker 1: of the northern states as well. Your take on the politics,

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Speaker 1: the polarity of the argument as you look at a

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Speaker 1: better economics in the South. Well, the thing is that

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Speaker 1: we we tend to think that it's the blue collar

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Speaker 1: worker affected by the global demand and supply, the global

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Speaker 1: hygiens in the manufacturing that's going to be the so

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Speaker 1: called Trump supporter or the other months. But I think

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Speaker 1: what I've felt it in the last few years, and

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Speaker 1: I go around the country also making speeches, is that

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Speaker 1: there is an angst amongst university educated people too, because

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Speaker 1: these days, when you get a university degree, there is

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Speaker 1: no guarantee you're going to get a job, and you

430
00:25:23,560 --> 00:25:28,000
Speaker 1: feel like you're getting outsourced to the other countries. And

431
00:25:28,119 --> 00:25:33,240
Speaker 1: when that feeling comes in, any populist candidate who we've

432
00:25:33,400 --> 00:25:35,200
Speaker 1: coming up and telling you he's gonna do he or

433
00:25:35,240 --> 00:25:37,520
Speaker 1: she's going to do something, it's going to be a

434
00:25:37,640 --> 00:25:41,960
Speaker 1: viable candidate. And that's what I'm feeling, you know, it's

435
00:25:42,080 --> 00:25:45,800
Speaker 1: the solid middle class that's feeling that my kids may

436
00:25:45,840 --> 00:25:48,520
Speaker 1: not have the same opportunities as I had because of

437
00:25:48,600 --> 00:25:55,480
Speaker 1: the so called globalization. What does pay like? What does

438
00:25:55,640 --> 00:25:59,080
Speaker 1: income inequality like? In that I realize it's a very

439
00:25:59,119 --> 00:26:02,280
Speaker 1: diverse region from Virginia to Texas in the in the

440
00:26:02,359 --> 00:26:05,800
Speaker 1: primaries today, but in general, is it follow the same

441
00:26:05,840 --> 00:26:08,399
Speaker 1: trend as the rest of the country where pay seems

442
00:26:08,440 --> 00:26:12,960
Speaker 1: to have stagnated and income inequality has widened significantly. I

443
00:26:13,000 --> 00:26:15,000
Speaker 1: don't have the exact data, but I would say it's

444
00:26:15,119 --> 00:26:17,879
Speaker 1: most probably most likely that maybe a little bit different

445
00:26:17,920 --> 00:26:20,080
Speaker 1: here and there, like every state is a little bit different.

446
00:26:20,520 --> 00:26:23,240
Speaker 1: But I'm saying to you is that that may have

447
00:26:23,520 --> 00:26:26,960
Speaker 1: been the story ten years ago the income inequality between

448
00:26:27,080 --> 00:26:29,960
Speaker 1: the blue collar workers and the top one. But now

449
00:26:30,359 --> 00:26:34,520
Speaker 1: it's the solid middle class that is very anxious. Their

450
00:26:34,600 --> 00:26:38,000
Speaker 1: income gains are not enough to keep up with the

451
00:26:38,080 --> 00:26:40,640
Speaker 1: way they want to live or the way they want

452
00:26:40,720 --> 00:26:44,240
Speaker 1: to do their spending on their kids, education or other things.

453
00:26:44,840 --> 00:26:48,680
Speaker 1: And they're feeling that they don't have those resources. What's

454
00:26:48,720 --> 00:26:51,960
Speaker 1: going on? What's wrong? You turn around and you always

455
00:26:51,960 --> 00:26:54,840
Speaker 1: suddenly say the first scape good that comes to your

456
00:26:54,880 --> 00:26:58,520
Speaker 1: mind is globalization. And I don't blame them. I'm not

457
00:26:58,720 --> 00:27:02,320
Speaker 1: looking at the How much money did the US corporations

458
00:27:02,359 --> 00:27:05,080
Speaker 1: spend on the stock buybacks last year, in the last

459
00:27:05,119 --> 00:27:07,840
Speaker 1: couple of years more than actually in each year, how

460
00:27:07,960 --> 00:27:11,120
Speaker 1: much money have they spent our macro economists on doing

461
00:27:11,200 --> 00:27:14,840
Speaker 1: investment on information processing equipment, and are in the and

462
00:27:14,920 --> 00:27:18,640
Speaker 1: intellectual property less than that. And if you don't do investment,

463
00:27:18,720 --> 00:27:23,120
Speaker 1: there's no jobs tomorrow. So that's change to the middle Classieling,

464
00:27:24,160 --> 00:27:26,720
Speaker 1: We have a stereotype of the expansion of the South,

465
00:27:26,920 --> 00:27:30,000
Speaker 1: and it doesn't go back to Clark Gable and gone

466
00:27:30,080 --> 00:27:32,440
Speaker 1: with the wind. But even in the last twenty years,

467
00:27:32,520 --> 00:27:36,800
Speaker 1: we carry our stereotypes. What is your singular message about

468
00:27:37,040 --> 00:27:41,159
Speaker 1: what Atlanta has to do to compete. I mean Atlanta

469
00:27:41,440 --> 00:27:44,240
Speaker 1: is actually competing very well. The growth head over here

470
00:27:44,440 --> 00:27:47,119
Speaker 1: has been pretty good. It had a very big downturn

471
00:27:47,720 --> 00:27:51,480
Speaker 1: after the Great Recession because we had a lot of overbuilding.

472
00:27:51,600 --> 00:27:53,639
Speaker 1: We had a lot of but you know, we were

473
00:27:53,640 --> 00:27:56,760
Speaker 1: building seventy thousand homes and our job growth was not

474
00:27:56,920 --> 00:28:00,560
Speaker 1: even fifty. When I started in this business, the rule

475
00:28:00,600 --> 00:28:03,800
Speaker 1: of tomb was that you built two homes you build,

476
00:28:04,119 --> 00:28:06,680
Speaker 1: you build one home for two jobs. We're building four

477
00:28:06,720 --> 00:28:09,280
Speaker 1: to one at that point. So we had an over building.

478
00:28:09,359 --> 00:28:11,400
Speaker 1: We didn't have a price crash. We had an over

479
00:28:11,480 --> 00:28:13,840
Speaker 1: building crash. So we took a while for us to

480
00:28:13,960 --> 00:28:17,440
Speaker 1: recover hospitalities of a big driver over here. And of

481
00:28:17,560 --> 00:28:20,080
Speaker 1: course we have the biggest airport in the Delta Airline,

482
00:28:20,440 --> 00:28:22,800
Speaker 1: so we have to suffer from the gerations of the

483
00:28:22,840 --> 00:28:25,879
Speaker 1: global economy a lot more now than they did it

484
00:28:26,000 --> 00:28:30,760
Speaker 1: fifteen twenty years ago. Georgie, thank you so much. One uh,

485
00:28:30,960 --> 00:28:35,359
Speaker 1: the Economic Forecasting Center for the mac Robinson College of Business,

486
00:28:35,400 --> 00:28:39,320
Speaker 1: Georgia State University. Mike, I know you brought Dr uh

487
00:28:39,640 --> 00:28:42,800
Speaker 1: Dolan too. That was really great. Yeah. And today the

488
00:28:43,400 --> 00:28:46,920
Speaker 1: SEC primary the states from the South voting in the

489
00:28:47,200 --> 00:28:52,160
Speaker 1: Super Tuesday primary Alabama, Arkansas, Georgia. You're putting Vermont, Tennessee, Texas,

490
00:28:52,240 --> 00:28:55,360
Speaker 1: and Virginia. We're gonna leave Vermont to the Northeastern and

491
00:28:55,440 --> 00:28:58,720
Speaker 1: Maple Hall primary. G im growing opposite of some of

492
00:28:58,760 --> 00:29:02,200
Speaker 1: the everybody else is coming strong. General Motors February US

493
00:29:02,240 --> 00:29:04,280
Speaker 1: auto sales are down one and a half percent. The

494
00:29:04,280 --> 00:29:07,680
Speaker 1: forecast was they would be others like a weather thing

495
00:29:07,760 --> 00:29:11,520
Speaker 1: going on in a presidential everybody else's has been strong.

496
00:29:11,680 --> 00:29:14,760
Speaker 1: Perhaps there was a shift in market share during the month.

497
00:29:15,160 --> 00:29:17,800
Speaker 1: Hard to tell, but we have seen an awful lot

498
00:29:17,840 --> 00:29:21,160
Speaker 1: of cars sold so far. Michael McKee and Tom Keane

499
00:29:21,240 --> 00:29:25,520
Speaker 1: in Washington, and we will be here tomorrow as well

500
00:29:25,640 --> 00:29:28,680
Speaker 1: to pick up the debris. Many people looking for landslides

501
00:29:29,240 --> 00:29:39,200
Speaker 1: for Clinton and Trump. Uh futures The Dow rather up Alright,

502
00:29:39,280 --> 00:29:41,120
Speaker 1: Time to check in now with Michael Barr and get

503
00:29:41,160 --> 00:29:43,880
Speaker 1: the latest world in national headlines. Michael, Mike time, Thank

504
00:29:43,960 --> 00:29:46,320
Speaker 1: you very much. Voters are heading to the polls today

505
00:29:46,520 --> 00:29:50,440
Speaker 1: for the big Super Tuesday primaries and caucuses. Republican Donald

506
00:29:50,480 --> 00:29:54,600
Speaker 1: Trump and Democratulary Clinton entered today as front runners for

507
00:29:54,720 --> 00:29:58,840
Speaker 1: their respective presidential nominations, with the chance to build nearly

508
00:29:58,920 --> 00:30:02,920
Speaker 1: an insurmountable le need. Democrat Bernie Sanders has already voted

509
00:30:02,960 --> 00:30:05,840
Speaker 1: in his home state of Vermont after a lot of deliberation,

510
00:30:05,960 --> 00:30:09,680
Speaker 1: I know that Bernie Sanders pot of one vote. Working

511
00:30:09,760 --> 00:30:15,560
Speaker 1: on my WFE, Bloomberg will have NonStop Super Tuesday coverage

512
00:30:15,600 --> 00:30:18,440
Speaker 1: throughout the night, starting with a special edition of With

513
00:30:18,560 --> 00:30:21,120
Speaker 1: All Due Respects starting at five pm, all Street time.

514
00:30:21,560 --> 00:30:24,160
Speaker 1: President Obama plans to sit down today with the Senate

515
00:30:24,200 --> 00:30:27,800
Speaker 1: Republican leaders who are vowing to block his Supreme Court nominee.

516
00:30:28,160 --> 00:30:30,480
Speaker 1: The President says he will nominate a success here to

517
00:30:30,880 --> 00:30:35,280
Speaker 1: late Justice antonin Scalia within weeks. Attorney General Loretta Lynch

518
00:30:35,400 --> 00:30:38,360
Speaker 1: is calling on tech companies and the government to find

519
00:30:38,480 --> 00:30:41,960
Speaker 1: common ground. Lynch, and prepared remarks later today for the

520
00:30:42,120 --> 00:30:46,280
Speaker 1: rs A Cybersecurity conference in San Francisco, says, we do

521
00:30:46,480 --> 00:30:49,000
Speaker 1: have to be engaged in open dialogue so we can

522
00:30:49,080 --> 00:30:52,840
Speaker 1: draw upon each other's resources. Speech comes after a California

523
00:30:52,920 --> 00:30:55,760
Speaker 1: judge ruled that Apple should come up with software to

524
00:30:55,840 --> 00:30:58,960
Speaker 1: hack into the iPhone of the San Bernardino shooter. The

525
00:30:59,040 --> 00:31:02,840
Speaker 1: December incident fourteen people dead. Global News twenty four hours

526
00:31:02,880 --> 00:31:05,760
Speaker 1: a day, powered by our It's twenty four journalists more

527
00:31:05,800 --> 00:31:08,000
Speaker 1: than a d fifty news bureaus from around the world.

528
00:31:08,320 --> 00:31:12,240
Speaker 1: I'm Michael Barn, Mike Tom, Michael bar thank you so much.

529
00:31:13,000 --> 00:31:17,840
Speaker 1: Good morning Bloomberg FM in Washington and nationwide this Super Tuesday,

530
00:31:18,320 --> 00:31:23,520
Speaker 1: It's Bloomberg surveillance. One of the big questions of this

531
00:31:23,680 --> 00:31:27,320
Speaker 1: election year. How will Hispanics react to some of the

532
00:31:27,440 --> 00:31:30,160
Speaker 1: things said on the campaign trail? Loosia Potta is in

533
00:31:30,240 --> 00:31:33,880
Speaker 1: the business of selling politicians to Hispanics. We'll ask you

534
00:31:37,360 --> 00:31:40,720
Speaker 1: Global business news twenty four hours a day at Bloomberg

535
00:31:40,800 --> 00:31:43,880
Speaker 1: dot com, the Radio plus mobile app and on your radio.

536
00:31:44,200 --> 00:31:47,920
Speaker 1: This is a Bloomberg Business Flash and I'm Teren Moscow.

537
00:31:48,040 --> 00:31:50,560
Speaker 1: This updates brought to you by Sector Spider A t F.

538
00:31:50,640 --> 00:31:52,600
Speaker 1: Why buy a single stock when you can invest in

539
00:31:52,640 --> 00:31:56,240
Speaker 1: the entire sector? Visits sector spd r s dot Com

540
00:31:56,480 --> 00:32:00,360
Speaker 1: are called Sector e t F. Ford motor is Light

541
00:32:00,440 --> 00:32:03,760
Speaker 1: vehicle sales were twenty percent in February, while Fiat Chrysler

542
00:32:03,760 --> 00:32:08,360
Speaker 1: automobiles deliveries climbed twelve percent. Both exceeded analysts estimates thanks

543
00:32:08,440 --> 00:32:11,040
Speaker 1: to pay back from January storm promotions tied to the

544
00:32:11,080 --> 00:32:14,560
Speaker 1: President's Day holiday and continued strong demand for sport, utility

545
00:32:14,640 --> 00:32:18,040
Speaker 1: vehicles and pickups. Nissan also beat, while GM sales fell

546
00:32:18,120 --> 00:32:20,160
Speaker 1: one and a half percent last month and had missed

547
00:32:20,160 --> 00:32:24,680
Speaker 1: analysts estimates. U S talks, meanwhile, are rising amid investor

548
00:32:24,720 --> 00:32:28,080
Speaker 1: optimism about Central Bank support, who checked the markets every

549
00:32:28,120 --> 00:32:30,960
Speaker 1: fifteen minutes throughout the trading day. On bloomberg S and

550
00:32:31,040 --> 00:32:33,240
Speaker 1: P five hundred up half percent or nine points in

551
00:32:33,320 --> 00:32:36,440
Speaker 1: nineteen forty one Dow Jones industrial average of four tenths

552
00:32:36,440 --> 00:32:39,320
Speaker 1: percent or sixty seven points to sixteen thousand, five hundred

553
00:32:39,360 --> 00:32:41,720
Speaker 1: eighty three, the nav stack up six tenths percent or

554
00:32:41,760 --> 00:32:45,000
Speaker 1: twenty seven points to forty eighty five ten your treasury

555
00:32:45,040 --> 00:32:47,560
Speaker 1: little change. He had one point seven three percent yield

556
00:32:47,560 --> 00:32:50,680
Speaker 1: on the two year point seven seven percent. Nimax screwed

557
00:32:50,680 --> 00:32:53,000
Speaker 1: oil down one percent or thirty one cents to thirty

558
00:32:53,040 --> 00:32:55,880
Speaker 1: three forty two a barrel, Comacs gold up half percent

559
00:32:56,040 --> 00:32:58,600
Speaker 1: or six dollars fifty cents at twelve forty seventy an

560
00:32:58,640 --> 00:33:02,440
Speaker 1: ounce the euro the end one their teen point oh

561
00:33:02,600 --> 00:33:06,120
Speaker 1: six and Hoteywell International saying it would no longer pursue

562
00:33:06,160 --> 00:33:09,880
Speaker 1: a combination with United Technologies due to the target company's

563
00:33:09,960 --> 00:33:13,240
Speaker 1: unwillingness to negotiate as a Bloomberg Business Flash. Tom and

564
00:33:13,320 --> 00:33:16,880
Speaker 1: Mike and Karen, thank you so much. Good morning everyone,

565
00:33:17,280 --> 00:33:20,280
Speaker 1: this Super Tuesday from our news bureau in Washington. One

566
00:33:20,360 --> 00:33:23,080
Speaker 1: of our themes today is to speak to people with experience,

567
00:33:23,680 --> 00:33:26,160
Speaker 1: people that have linked to strategy and tactics of our

568
00:33:26,240 --> 00:33:30,800
Speaker 1: economic politics or political economics. Jose Par has done that.

569
00:33:30,880 --> 00:33:33,880
Speaker 1: He's worked with Senator Read of Nevada, among others, of

570
00:33:34,080 --> 00:33:37,760
Speaker 1: actually doing something that a lot of people thirty years

571
00:33:37,800 --> 00:33:41,320
Speaker 1: ago weren't sure it was possible, which is organized, get

572
00:33:41,360 --> 00:33:44,520
Speaker 1: out and do the Hispanic vote. We could go for

573
00:33:44,720 --> 00:33:48,280
Speaker 1: three hours today based on what then Weber said earlier

574
00:33:48,760 --> 00:33:53,120
Speaker 1: of Hispanic strong old Minnesota about the importance of the world,

575
00:33:53,600 --> 00:33:57,000
Speaker 1: the Latino and the Hispanic vote. Give us the state

576
00:33:57,240 --> 00:34:00,360
Speaker 1: of the Latino vote. After what we learned in two

577
00:34:00,440 --> 00:34:04,560
Speaker 1: thousand eight, in two thousand twelve, all two eight and

578
00:34:04,680 --> 00:34:08,719
Speaker 1: two thousand ten, we're also um, we're seminal years. It's

579
00:34:08,719 --> 00:34:13,320
Speaker 1: obviously been growing by by leaps and bounds participations and

580
00:34:13,360 --> 00:34:15,520
Speaker 1: not is now where it should be if it were,

581
00:34:16,040 --> 00:34:18,960
Speaker 1: and this could be a limited lismuths test here for that.

582
00:34:19,800 --> 00:34:24,040
Speaker 1: For example, in you had about twenty three million eligible

583
00:34:24,080 --> 00:34:27,120
Speaker 1: Hispanic voters. Close to twelve million turned out to the polls,

584
00:34:27,480 --> 00:34:31,360
Speaker 1: so still underperforming, but still were They played a decisive

585
00:34:31,440 --> 00:34:35,040
Speaker 1: role in states like Florida and Nevada to help President

586
00:34:35,120 --> 00:34:41,600
Speaker 1: Obama win, and in we actually had presidential type turnout

587
00:34:42,320 --> 00:34:45,920
Speaker 1: to Uh in Nevada to back Center Reading. According to

588
00:34:45,960 --> 00:34:49,400
Speaker 1: the Firm of Funeral Decisions, Center read one of the

589
00:34:49,480 --> 00:34:52,320
Speaker 1: vote that year. Interestingly, if you want to compare that

590
00:34:52,560 --> 00:34:57,080
Speaker 1: year to what's occurring right now, the rhetoric was very much,

591
00:34:57,320 --> 00:35:01,560
Speaker 1: very similar. Sharon Angle Uh Center reads um fun at

592
00:35:01,640 --> 00:35:06,000
Speaker 1: the moment was um base air campaign on immigration, and

593
00:35:06,719 --> 00:35:09,239
Speaker 1: she spent about a third of her TV budget on

594
00:35:09,440 --> 00:35:13,160
Speaker 1: antiimmigrant ads, and that contrast between her and Center to

595
00:35:13,200 --> 00:35:17,560
Speaker 1: Read really helped turn the Latino vote out. Well, when

596
00:35:17,600 --> 00:35:20,000
Speaker 1: we speak of the Latino vote, I mean it's people

597
00:35:20,040 --> 00:35:23,200
Speaker 1: from Mexico, people from the Caribbean, people from South America.

598
00:35:23,280 --> 00:35:26,879
Speaker 1: You've got immigrant recent democrats, and you've got families who've

599
00:35:26,880 --> 00:35:31,240
Speaker 1: been here for generations. So what is the Latino slash

600
00:35:31,400 --> 00:35:37,000
Speaker 1: Hispanic vote? Are there issues that are common to all

601
00:35:37,760 --> 00:35:40,920
Speaker 1: or do we make a mistake by lumping everybody together? Well,

602
00:35:41,000 --> 00:35:44,239
Speaker 1: it is definitely a moving target, and no, anybody who

603
00:35:44,280 --> 00:35:47,719
Speaker 1: tells you that they've had the Hispanic vote, figure it out. UM,

604
00:35:48,239 --> 00:35:51,680
Speaker 1: They're they're selling me a bunch of goods because it

605
00:35:51,840 --> 00:35:54,360
Speaker 1: is a moving target, something you need to be measuring

606
00:35:54,440 --> 00:35:56,840
Speaker 1: all the time, and something you need to be And

607
00:35:56,960 --> 00:35:59,759
Speaker 1: then any public you need to be listening to constantly

608
00:35:59,840 --> 00:36:01,640
Speaker 1: in art you figure out where they are. You have

609
00:36:01,760 --> 00:36:05,200
Speaker 1: huge differences between Florida, for example, in Nevada, even in Florida.

610
00:36:05,880 --> 00:36:07,920
Speaker 1: In Florida you need to micro target. For example, you

611
00:36:08,000 --> 00:36:09,799
Speaker 1: need to talk to the Colombians, you need to talk

612
00:36:09,840 --> 00:36:12,879
Speaker 1: to Nicarago, you need to talk to Cubans. And each

613
00:36:12,960 --> 00:36:16,879
Speaker 1: one has different radio stations. For example, they listen to UM.

614
00:36:17,080 --> 00:36:21,160
Speaker 1: How can Mr Trump do so well against a departed

615
00:36:21,280 --> 00:36:25,279
Speaker 1: Bush and a present Rubio in that state given the

616
00:36:25,520 --> 00:36:30,680
Speaker 1: fabulous diversity in Florida advantage. A lot of Americans are

617
00:36:30,719 --> 00:36:33,200
Speaker 1: asking that question. Well, I think the biggest thing here

618
00:36:33,360 --> 00:36:37,759
Speaker 1: is that we're talking about UM, a fractured geop UM

619
00:36:38,000 --> 00:36:40,719
Speaker 1: and you're talking about a fraction of the goop, which

620
00:36:40,840 --> 00:36:46,880
Speaker 1: is a majority, but not I A a proper uh

621
00:36:47,400 --> 00:36:50,719
Speaker 1: big majority of the It's not fifty plus of the

622
00:36:50,960 --> 00:36:55,359
Speaker 1: goop field or geop voters. And uh, I think that's

623
00:36:55,520 --> 00:36:57,920
Speaker 1: what's happening there and he's turning out. I bet you

624
00:36:57,960 --> 00:37:01,200
Speaker 1: a lot of people in northern Florida, uh and roll

625
00:37:01,239 --> 00:37:03,759
Speaker 1: parts of Florida which are very similar to Alabama or

626
00:37:03,840 --> 00:37:08,759
Speaker 1: Georgia and it's demographic makeup. Are there Is there a

627
00:37:09,640 --> 00:37:12,960
Speaker 1: Latino vote that is committed to one side or another?

628
00:37:13,000 --> 00:37:15,320
Speaker 1: Because the Republican argument coming out of two thousand twelves

629
00:37:15,360 --> 00:37:19,840
Speaker 1: we need to appeal more because our issues, conservative issues,

630
00:37:20,280 --> 00:37:23,640
Speaker 1: religious issues would appeal to his banks on an economic basis.

631
00:37:23,719 --> 00:37:26,319
Speaker 1: The Democrats say we can compete. Is the vote still

632
00:37:26,400 --> 00:37:28,600
Speaker 1: up for grabs or has it hardened on one side

633
00:37:28,640 --> 00:37:31,839
Speaker 1: or there not? After what Trump has done, and there's

634
00:37:31,880 --> 00:37:36,920
Speaker 1: been an unfortunate trend within the GOP which Trump in reality,

635
00:37:36,960 --> 00:37:39,640
Speaker 1: what he did was harn as this trend and use

636
00:37:39,719 --> 00:37:43,040
Speaker 1: his megaphone as a media figure to protect it. Because

637
00:37:43,080 --> 00:37:45,080
Speaker 1: this type of language we've been hearing from Steve King,

638
00:37:45,320 --> 00:37:49,840
Speaker 1: from Moe Brooks, from Jan Brewer, and the the Arizona

639
00:37:50,080 --> 00:37:52,799
Speaker 1: Law of of two thousand and ten, which by the way,

640
00:37:52,880 --> 00:37:55,400
Speaker 1: Marco Rubio back to the time, which meant that if

641
00:37:55,440 --> 00:37:58,040
Speaker 1: you look Latino or Sano Latino, you could be stopped

642
00:37:58,680 --> 00:38:01,560
Speaker 1: and that started that turned a great an identity issue.

643
00:38:01,600 --> 00:38:04,000
Speaker 1: The background here for Washington, and we've heard this from

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00:38:04,840 --> 00:38:09,200
Speaker 1: FM Washington listeners over the last few days, is Robert

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Speaker 1: Kagan's important op ed in the Washington Post. He is

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Speaker 1: at the Brookings Institution and he just wrote a basic

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Speaker 1: theme of what you address about the gop um. The

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00:38:20,600 --> 00:38:24,400
Speaker 1: president is not only wrong but also anti American, un American,

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Speaker 1: non American, and his policies, though barely distinguishable from those

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Speaker 1: of previous liberal Democrats such as Michael dukaka sam Mario Cuomo,

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00:38:33,360 --> 00:38:38,880
Speaker 1: are somewhat representative of something subversive. Do they just lose

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Speaker 1: all of the minority vote in America with that language?

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Speaker 1: I mean they're pussing that language for a long long

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Speaker 1: time now, at least for eighty of Hispanics in the

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Speaker 1: Romney election for Mr Romney. About and that number and

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00:38:55,320 --> 00:38:57,000
Speaker 1: the and and and I would argue that the problem

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00:38:57,120 --> 00:39:00,800
Speaker 1: that number is probably lower because that's based on exit polling,

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Speaker 1: which tends to under measure minority communities. We talked about.

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Speaker 1: Donald Trump obviously is sort of the front runner in

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Speaker 1: the Republican side. Suppose you get a Hispanic, you get

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Speaker 1: Marco Rubio or Ted Cruz, who rests the nomination away

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Speaker 1: from him. How does that change the dynamic? I don't

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Speaker 1: think much, because what Trump has done is forced the

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Speaker 1: party to tach right in its message, on its tone,

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Speaker 1: and forced all these guys to chase him as as

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Speaker 1: far as rhetoric, maybe with uh much less crass language

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00:39:34,080 --> 00:39:36,200
Speaker 1: until this weekend when Marco will be going to for

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00:39:36,280 --> 00:39:40,320
Speaker 1: tat with uh with Trump. But um, even Jeff Bush,

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Speaker 1: who a lot of people consider a very pro immigrant

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Speaker 1: and and somebody steeped deeply in the and and Hispanic culture.

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Speaker 1: Uh use the term anchor babies for example, at some

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Speaker 1: point everybody was trying to catch up to Trump, and

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Speaker 1: it's gonna be very hard for these guys to come

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Speaker 1: back from that started the side of the spectrum. Secretary

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Speaker 1: go ahead. Well, I was just gonna say, can can

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Speaker 1: Secretary Clinton then take the Hispanic vote for granted? They're

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Speaker 1: going to come to her. No, she cannot take the

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Speaker 1: vote for granted, because um, the issue with Hispanics is

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Speaker 1: and Democrats and Republicans is not so much whether Latinos

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Speaker 1: will become Republicans and vote Republican. The question is whether

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Speaker 1: they will stay home. Has happened in the midterm of

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Speaker 1: For example, UH, in Nevada, we went to a participation

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Speaker 1: among Latinos of and we lost even a Latino majority

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Speaker 1: district CD four in Nevada. So turnout is the key,

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Speaker 1: and the turnout is everything. And you need to give

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Speaker 1: the and you need to give people a people and

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00:40:51,239 --> 00:40:52,800
Speaker 1: you need to give people not just the reason to

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Speaker 1: vote against something, but also an alternative to vote for.

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Speaker 1: We would love to have you come back when we

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00:40:59,000 --> 00:41:02,680
Speaker 1: visit was a part where this with its perspective working

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Speaker 1: with Senator to read of Nevada on Latino affairs. Prospero

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Speaker 1: Latino is a strategic insight organization. Mike, We're gonna go

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Speaker 1: to San Francisco. It's something we have not addressed today.

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Speaker 1: We're gonna go to San Francisco here in the next hour. Yes,

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Speaker 1: Carol Masser and uh Corey Johnson are cybersecurity conference. Um.

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Speaker 1: They have Actually they knew that we were going to

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00:41:25,840 --> 00:41:29,000
Speaker 1: go to them because they've been reading our computer messages earlier.

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Speaker 1: They've learned everything they need to learn about. They are

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00:41:32,719 --> 00:41:35,640
Speaker 1: conference and really front and center on Apple. We know,

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Speaker 1: and that is a major issue on Capital Hill today. UH,

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Speaker 1: with the hearings on Apple. Yeah, Carol, good morning, Hey,

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Speaker 1: good morning guys. Um. We do know everything, um, but yeah,

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Speaker 1: this is all about keeping our digital world safe. So

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00:41:49,800 --> 00:41:53,480
Speaker 1: you've got Google here, Adobe here, You've got the carmakers here,

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00:41:53,520 --> 00:41:54,960
Speaker 1: and we're gonna be talking to some of them just

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Speaker 1: some of the initiatives that are underway to protect everything

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Speaker 1: that's going on in the digital space. So kind of fascinating.

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Speaker 1: You're right. It's front and center up on Capitol Hill

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00:42:04,239 --> 00:42:07,719
Speaker 1: today with Apple there and also the Pentagon talking about

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00:42:07,719 --> 00:42:10,120
Speaker 1: some of the cybersecurity initiatives they need. So we're gonna

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Speaker 1: cover it all here from San Francisco and Carol Master,

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Speaker 1: thank you so much again. Super TUESI programming all day

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00:42:17,680 --> 00:42:20,560
Speaker 1: on Bloomberg Radio to give you a perspective we hope,

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00:42:20,560 --> 00:42:23,800
Speaker 1: away from the Husterian of course, important programming tonight with

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00:42:23,920 --> 00:42:28,359
Speaker 1: Mark Helper and John Heilman with all due respect as

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00:42:28,440 --> 00:42:30,560
Speaker 1: we begin to look at the returns for the many

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00:42:31,160 --> 00:42:34,200
Speaker 1: Super Tuesday states. The good news for me and Mike.

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Speaker 1: We'll be here tomorrow morning to pick up the debris

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Speaker 1: of the various elections and to give you perspective forward

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00:42:41,239 --> 00:42:46,520
Speaker 1: on the nation's very political economics. From Washington. This is

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Speaker 1: Bloomberg surveillance