1 00:00:00,360 --> 00:00:05,080 Speaker 1: Live from Our Nation's how do we reopen this economy? 2 00:00:05,160 --> 00:00:08,280 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,400 --> 00:00:11,400 Speaker 1: does this do for the United States relationship with China? 4 00:00:11,560 --> 00:00:16,480 Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're 5 00:00:16,520 --> 00:00:19,720 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:19,840 --> 00:00:23,360 Speaker 1: never before. We're looking at seventy kennidates for different vectories. 7 00:00:23,440 --> 00:00:26,080 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,160 --> 00:00:30,240 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:30,320 --> 00:00:34,600 Speaker 1: Surrelate on Bloomberg and one oh five point seven f 10 00:00:34,720 --> 00:00:37,640 Speaker 1: m h D two. The latest on TikTok? Are they 11 00:00:37,640 --> 00:00:39,720 Speaker 1: going to shut it down by next week? We dive 12 00:00:39,760 --> 00:00:43,519 Speaker 1: into the specifics of that TikTok Oracle deal, reach out 13 00:00:43,560 --> 00:00:46,800 Speaker 1: iPhone download surge in the US ahead of that Trump 14 00:00:46,840 --> 00:00:51,720 Speaker 1: band re chat. Also now wraps up in those negotiations. 15 00:00:51,760 --> 00:00:55,200 Speaker 1: Plus the latest on fiscal stimulus. David Weston spoke with 16 00:00:55,240 --> 00:00:58,240 Speaker 1: Speaker Pelosi? Are they going to get a deal? All 17 00:00:58,280 --> 00:01:01,680 Speaker 1: of that, plus an exclusive inner you with one person 18 00:01:02,080 --> 00:01:05,119 Speaker 1: who says that health and wellness could not only help 19 00:01:05,319 --> 00:01:10,399 Speaker 1: cure americans obesity crisis, but also could help balance the budget. 20 00:01:10,440 --> 00:01:13,880 Speaker 1: You don't want to miss that conversation coming up. Earlier today, 21 00:01:14,120 --> 00:01:16,800 Speaker 1: I spoke with Senator Chris Coons. He's a Democrat from Delaware, 22 00:01:16,840 --> 00:01:21,080 Speaker 1: and we discussed Joe Biden's China policy, and I asked 23 00:01:21,080 --> 00:01:24,520 Speaker 1: whether he would serve as Secretary of State in a 24 00:01:24,560 --> 00:01:28,040 Speaker 1: Biden administration if he was asked to do so. He 25 00:01:28,160 --> 00:01:30,800 Speaker 1: joins a long list of folks who could be in 26 00:01:30,840 --> 00:01:34,800 Speaker 1: the running for Biden's Secretary of State position, including Susan Rice, 27 00:01:34,840 --> 00:01:39,199 Speaker 1: Tony B. Lincoln, Samantha power Uh, as well as others. 28 00:01:39,600 --> 00:01:42,560 Speaker 1: But first though, I got his take on the different 29 00:01:42,600 --> 00:01:45,679 Speaker 1: campaigning styles between Vice President Biden and President Trump. Take 30 00:01:45,680 --> 00:01:47,600 Speaker 1: a listen to what he said, Well, Kevin, there was 31 00:01:47,600 --> 00:01:52,040 Speaker 1: a stark contrast in both tone and substance between Donald 32 00:01:52,040 --> 00:01:55,720 Speaker 1: Trump's rally, President Trump's rally in Wisconsin, and former Vice 33 00:01:55,800 --> 00:01:59,640 Speaker 1: President Biden's rally in Scranton. The Scranton rally was socially 34 00:01:59,680 --> 00:02:03,000 Speaker 1: disc in folks wearing masks, was calm. Was one where 35 00:02:03,080 --> 00:02:07,360 Speaker 1: Joe Biden talked about fighting for America's veterans, supporting our 36 00:02:07,360 --> 00:02:11,080 Speaker 1: first responders, and um putting forward a concrete plan for 37 00:02:11,200 --> 00:02:14,519 Speaker 1: how he will reduce taxes. On the working class, on 38 00:02:14,560 --> 00:02:17,640 Speaker 1: the middle class of America, and raise taxes on the 39 00:02:17,800 --> 00:02:22,399 Speaker 1: very wealthiest corporations, the very wealthiest Americans as a way 40 00:02:22,400 --> 00:02:25,359 Speaker 1: to get us out of this pandemic and help recover 41 00:02:25,480 --> 00:02:30,280 Speaker 1: our economy. Donald Trump went on a rambling rant in Wisconsin, 42 00:02:30,320 --> 00:02:33,560 Speaker 1: where frankly, it's hard to know exactly what his proposals are, 43 00:02:34,040 --> 00:02:37,240 Speaker 1: but he's insisting that he will continue on giving tax 44 00:02:37,280 --> 00:02:40,480 Speaker 1: breaks to the very wealthiest Americans and to the very 45 00:02:40,600 --> 00:02:44,440 Speaker 1: most profitable corporations. Are you competent that there still is 46 00:02:44,480 --> 00:02:47,000 Speaker 1: a chance for physical stimulus the head of the election. 47 00:02:47,639 --> 00:02:50,799 Speaker 1: I'm gonna keep working, Kevin. I've been talking with my colleagues, 48 00:02:51,080 --> 00:02:54,120 Speaker 1: both Democrats and Republicans about what we can do to 49 00:02:54,200 --> 00:02:58,120 Speaker 1: close this gap. But frankly, Majority Leader McConnell in the 50 00:02:58,200 --> 00:03:01,239 Speaker 1: Senate hasn't been a part of these nego ciations. Uh, 51 00:03:01,240 --> 00:03:05,280 Speaker 1: And without some movement by either the Republican majority in 52 00:03:05,320 --> 00:03:08,760 Speaker 1: the Senate or by President Trump's chief of staff Mark Meadows, 53 00:03:09,200 --> 00:03:11,000 Speaker 1: I think it will be very difficult for there to 54 00:03:11,040 --> 00:03:15,000 Speaker 1: be a closing of this significant gap. Speaker Pelosi um 55 00:03:15,000 --> 00:03:17,760 Speaker 1: speaking on behalf of the House that several months ago 56 00:03:18,160 --> 00:03:21,000 Speaker 1: passed a three and a half trillion dollar relief bill 57 00:03:21,400 --> 00:03:24,880 Speaker 1: that would provide support and relief to small businesses, families, 58 00:03:25,360 --> 00:03:28,960 Speaker 1: first responders, a very wide range of those. Indeed, has 59 00:03:29,000 --> 00:03:33,320 Speaker 1: already agreed publicly to come down first to two excuse me, 60 00:03:33,360 --> 00:03:35,560 Speaker 1: two and a half trillion UH and then to just 61 00:03:35,720 --> 00:03:38,920 Speaker 1: over two trillion, and she and Minority Leader Schumer are 62 00:03:38,960 --> 00:03:43,000 Speaker 1: waiting for some counter proposal that meets them halfway. The 63 00:03:43,040 --> 00:03:45,880 Speaker 1: so called skinny bill, which was just a few hundred billion, 64 00:03:46,360 --> 00:03:49,800 Speaker 1: left out whole sections of what we need in order 65 00:03:49,840 --> 00:03:52,920 Speaker 1: for there to be effective relief for Middle America, for 66 00:03:53,040 --> 00:03:57,600 Speaker 1: public employees, for nutrition, and for those going back to school. UH. 67 00:03:57,600 --> 00:03:59,640 Speaker 1: And my hope is that we can still find some 68 00:03:59,680 --> 00:04:03,600 Speaker 1: responsibill compromise. Senator. When I talked to two Democrats, they 69 00:04:03,640 --> 00:04:07,200 Speaker 1: say that should Biden win the upcoming election, that there 70 00:04:07,240 --> 00:04:11,000 Speaker 1: would likely be massive, more, much more economic stimulus coming 71 00:04:11,040 --> 00:04:14,240 Speaker 1: even in the first quarter of next calendar year, especially 72 00:04:14,240 --> 00:04:17,600 Speaker 1: as it relates to infrastructure. UH, and that more and 73 00:04:17,680 --> 00:04:20,320 Speaker 1: now economists are starting to factor that in in terms 74 00:04:20,360 --> 00:04:24,800 Speaker 1: of their expectations of UH, should Joe Biden win the election. 75 00:04:24,960 --> 00:04:27,160 Speaker 1: Is that something that you here, I mean infrastructure has 76 00:04:27,200 --> 00:04:29,680 Speaker 1: been something that he's talked about for quite some time, 77 00:04:29,720 --> 00:04:31,159 Speaker 1: but is that going to be one of the major 78 00:04:31,400 --> 00:04:35,159 Speaker 1: first priorities in a Biden administration. I do think putting 79 00:04:35,200 --> 00:04:39,400 Speaker 1: money back into our economy by rebuilding American infrastructure, which 80 00:04:39,480 --> 00:04:42,440 Speaker 1: is sadly antiquated in a lot of different ways, our 81 00:04:42,480 --> 00:04:45,680 Speaker 1: bridges and tunnels and roads and highways. UM, that's something 82 00:04:45,720 --> 00:04:48,520 Speaker 1: that would both help put people back to work, um, 83 00:04:48,600 --> 00:04:53,080 Speaker 1: stimulate our economy. And if we build resilient infrastructure that 84 00:04:53,120 --> 00:04:56,760 Speaker 1: makes us better prepared for the hurricanes and wildfires and 85 00:04:56,880 --> 00:05:00,800 Speaker 1: natural disasters that we're seeing across our country. We could 86 00:05:00,800 --> 00:05:04,240 Speaker 1: also begin to deal with addressing climate change. I was 87 00:05:04,320 --> 00:05:07,320 Speaker 1: encouraged to see that the hundreds of businesses that make 88 00:05:07,400 --> 00:05:11,360 Speaker 1: up the Business Roundtable just this past week recognized climate 89 00:05:11,440 --> 00:05:14,680 Speaker 1: change is real and we have to do something about it. UM. 90 00:05:14,680 --> 00:05:16,760 Speaker 1: So I think this is one way that Joe Biden 91 00:05:16,839 --> 00:05:20,719 Speaker 1: can help us build back better, make a stronger economy 92 00:05:20,760 --> 00:05:23,120 Speaker 1: and a more resilient economy as we come out of 93 00:05:23,120 --> 00:05:26,280 Speaker 1: this pandemic next year. You know, manufacturing is is just 94 00:05:26,400 --> 00:05:29,000 Speaker 1: so much at the at the forefront of these kind 95 00:05:29,000 --> 00:05:34,120 Speaker 1: of these conversations. Uh, they were getting waxed before the pandemic. 96 00:05:34,160 --> 00:05:38,480 Speaker 1: They've obviously taken another hit the manufacturing sector during the pandemic, 97 00:05:39,000 --> 00:05:43,000 Speaker 1: particularly on the issue of manufacturing. How do you protect 98 00:05:43,120 --> 00:05:46,559 Speaker 1: manufacturing jobs so that they don't go overseas to China, 99 00:05:46,640 --> 00:05:49,720 Speaker 1: so that they don't get influenced by the geopolitical, geo 100 00:05:49,760 --> 00:05:52,960 Speaker 1: political winds of the day. Kevin, one of the things 101 00:05:53,000 --> 00:05:55,200 Speaker 1: that many of us in Congress are looking at is 102 00:05:55,480 --> 00:05:59,720 Speaker 1: how we can onshore manufacturing of critical components of the 103 00:05:59,760 --> 00:06:03,880 Speaker 1: sub fly chains that for decades have now gone overseas 104 00:06:03,880 --> 00:06:07,159 Speaker 1: and often to China. A lot of the bungled federal 105 00:06:07,200 --> 00:06:10,000 Speaker 1: response in the first few months of this year was 106 00:06:10,080 --> 00:06:14,800 Speaker 1: around trying to provide ppe or personal protective equipment or 107 00:06:15,040 --> 00:06:18,320 Speaker 1: badly needed medical devices and other supplies that are mostly 108 00:06:18,360 --> 00:06:21,279 Speaker 1: made overseas, a lot of it in China. I have 109 00:06:21,320 --> 00:06:24,400 Speaker 1: a bipartisan bill with Senator Rubio of Florida that would 110 00:06:24,400 --> 00:06:27,600 Speaker 1: accelerate that on shoring, there's a number of different proposals, 111 00:06:28,080 --> 00:06:31,679 Speaker 1: but former Vice President Biden, who grew up in manufacturing 112 00:06:31,720 --> 00:06:35,279 Speaker 1: towns in Scranton, Pennsylvania and claim On, Delaware, understands what 113 00:06:35,360 --> 00:06:39,640 Speaker 1: it's going to take to restore support for American manufacturing. 114 00:06:40,000 --> 00:06:42,320 Speaker 1: We can use the power of the federal government to 115 00:06:42,400 --> 00:06:46,240 Speaker 1: buy more American made goods, and we can provide incentives, 116 00:06:46,240 --> 00:06:51,600 Speaker 1: tax incentives for those manufacturers who are going to onshore manufacturing. Uh, 117 00:06:51,600 --> 00:06:54,240 Speaker 1: and stop providing tax incentives that have been in our 118 00:06:54,279 --> 00:06:58,719 Speaker 1: code for too long for businesses that offshore manufacturing. And Senator, 119 00:06:58,720 --> 00:07:02,320 Speaker 1: it's not just you s versus China competition for jobs. 120 00:07:02,360 --> 00:07:05,680 Speaker 1: I mean it's also a geopolitical chess game, as you know. 121 00:07:05,760 --> 00:07:09,800 Speaker 1: I mean, you've got China trying to make inroads everywhere, uh, 122 00:07:09,880 --> 00:07:12,600 Speaker 1: including in Africa. And it was just this week that 123 00:07:12,640 --> 00:07:15,720 Speaker 1: the Treasury Department had issued sanctions on a on a 124 00:07:15,800 --> 00:07:20,200 Speaker 1: firm and Cambodia that was posing as as a manufacturing 125 00:07:20,240 --> 00:07:23,480 Speaker 1: company but actually was trying to build a military base. 126 00:07:23,520 --> 00:07:25,960 Speaker 1: I mean, how do you reign in China? How would 127 00:07:25,960 --> 00:07:30,240 Speaker 1: a president Joe Biden reign in China from a national 128 00:07:30,320 --> 00:07:34,679 Speaker 1: security perspective but also from a competitive economic perspective should 129 00:07:34,720 --> 00:07:38,600 Speaker 1: he win the presidency. Well, Kevin, there's three critical parts 130 00:07:38,600 --> 00:07:42,800 Speaker 1: to a Biden strategy to confront and aggressive China that 131 00:07:42,880 --> 00:07:46,160 Speaker 1: has been taking more and more steps globally to be 132 00:07:46,280 --> 00:07:49,320 Speaker 1: directly competitive with US. We actually had a hearing on 133 00:07:49,360 --> 00:07:52,960 Speaker 1: this topic on the Foreign Relations Committee yesterday about China's 134 00:07:53,000 --> 00:07:56,920 Speaker 1: expansionist activities in Central and South America. Um. First, it 135 00:07:57,040 --> 00:08:00,480 Speaker 1: begins with strengthening the United States with rein vesting in 136 00:08:00,520 --> 00:08:04,280 Speaker 1: our own manufacturing, education, and bringing us together as a 137 00:08:04,280 --> 00:08:08,040 Speaker 1: country so that we are more of a functional, vibrant democracy, 138 00:08:08,120 --> 00:08:11,600 Speaker 1: so that our model continues to be attractive to the world. Second, 139 00:08:11,960 --> 00:08:15,080 Speaker 1: it's re engaging with our allies. Some of our most 140 00:08:15,240 --> 00:08:18,200 Speaker 1: vital allies around the world, from Canada to the UK, 141 00:08:18,360 --> 00:08:22,680 Speaker 1: to Germany, to South Korea to Japan, have faced withering 142 00:08:22,840 --> 00:08:26,600 Speaker 1: insults and attacks from pre President Trump, who's either demanded 143 00:08:26,640 --> 00:08:31,680 Speaker 1: they pay more for their own security or has imposed 144 00:08:31,720 --> 00:08:34,880 Speaker 1: on them punishing tariffs that have distanced us from some 145 00:08:34,960 --> 00:08:37,760 Speaker 1: of our core allies. Re Engaging with our allies and 146 00:08:37,800 --> 00:08:42,480 Speaker 1: reuniting the democracies of the world to jointly confront China's 147 00:08:42,480 --> 00:08:46,720 Speaker 1: innovative mercantil is MUH is the next step. And then third, 148 00:08:47,200 --> 00:08:50,160 Speaker 1: I expect Joe Biden as presidents, someone with decades of 149 00:08:50,200 --> 00:08:54,880 Speaker 1: experience in foreign policy, will re engage with the multilateral 150 00:08:54,880 --> 00:08:58,160 Speaker 1: institutions of the world. Uh, not just NATO in Europe, 151 00:08:58,520 --> 00:09:01,280 Speaker 1: but in the Asia Pacific. There are ways in which 152 00:09:01,320 --> 00:09:04,280 Speaker 1: we can and should strengthen our standing in the world 153 00:09:04,559 --> 00:09:08,080 Speaker 1: and confront China on everything from I p theft UH 154 00:09:08,160 --> 00:09:10,640 Speaker 1: to their actions in the South China See, to their 155 00:09:10,720 --> 00:09:14,120 Speaker 1: human rights violations against the weakers in Shin John Province, 156 00:09:14,120 --> 00:09:17,120 Speaker 1: and their steps in Hong Kong UH to constrain that 157 00:09:17,200 --> 00:09:20,160 Speaker 1: little island that has for long enjoyed more freedom than 158 00:09:20,200 --> 00:09:23,400 Speaker 1: anywhere else in China. All of these are steps Joe 159 00:09:23,400 --> 00:09:26,560 Speaker 1: Biden as president, would understand how to take, and they're 160 00:09:26,559 --> 00:09:29,480 Speaker 1: in sharp contrast to the ways that President Trump has 161 00:09:29,559 --> 00:09:33,120 Speaker 1: caddle dictators, has distanced us from our vital allies, and 162 00:09:33,160 --> 00:09:36,000 Speaker 1: has used the wrong tools in trying to confront China. So, 163 00:09:36,160 --> 00:09:38,960 Speaker 1: someone who has such a close personal relationship with the 164 00:09:39,040 --> 00:09:43,000 Speaker 1: Democratic presidential nominee Joe Biden, would Secretary of State be 165 00:09:43,080 --> 00:09:47,240 Speaker 1: a position in his cabinet that you would consider accepting 166 00:09:47,280 --> 00:09:50,960 Speaker 1: should you be offered it, Kevin, there is a lot 167 00:09:51,000 --> 00:09:52,920 Speaker 1: of work to do in the world. Um. There are 168 00:09:53,000 --> 00:09:57,479 Speaker 1: so many different places where the United States has receded 169 00:09:57,559 --> 00:10:00,440 Speaker 1: in its reach and its engagement UH, and I would 170 00:10:00,440 --> 00:10:02,920 Speaker 1: be honored to play some role in helping to strengthen 171 00:10:03,559 --> 00:10:05,679 Speaker 1: America's place in the world. Joe Biden is going to 172 00:10:05,760 --> 00:10:09,200 Speaker 1: have a lot of very qualified and experienced people from 173 00:10:09,200 --> 00:10:12,480 Speaker 1: whom he may choose his senior team. I look forward 174 00:10:12,520 --> 00:10:16,360 Speaker 1: to doing whatever I can to help Biden Harris administration 175 00:10:16,720 --> 00:10:18,920 Speaker 1: UM strengthen our place in the world and to build 176 00:10:18,920 --> 00:10:22,199 Speaker 1: back better our global leadership. Whether that's in the Senate, 177 00:10:22,240 --> 00:10:25,120 Speaker 1: which is what I expect will most likely happen, or 178 00:10:25,160 --> 00:10:28,160 Speaker 1: whether I got that opportunity to serve alongside him, it 179 00:10:28,160 --> 00:10:30,400 Speaker 1: would be the honor of a lifetime. That was my 180 00:10:30,480 --> 00:10:34,400 Speaker 1: interview earlier today with the Senator Chris Cotton's, a Democrat 181 00:10:34,400 --> 00:10:36,840 Speaker 1: from Delaware. We should note that the attorney general in 182 00:10:36,920 --> 00:10:39,960 Speaker 1: Delaware is a Democrat, so that gets that starts to 183 00:10:40,000 --> 00:10:45,920 Speaker 1: matter folks when uh, whenever a president appoint someone for 184 00:10:46,000 --> 00:10:48,320 Speaker 1: the cabinet, they don't want to change the math in 185 00:10:48,360 --> 00:10:52,120 Speaker 1: the Senate. Now, a lot has to happen, but you know, look, 186 00:10:52,320 --> 00:10:56,840 Speaker 1: Senator Coon's has a very close personal relationship with Joe Biden, 187 00:10:56,920 --> 00:10:59,680 Speaker 1: given that they're both served from the from the state 188 00:10:59,720 --> 00:11:02,319 Speaker 1: of del where so you know who knows who knows um. 189 00:11:02,360 --> 00:11:05,679 Speaker 1: He was also, as a freshman, the only freshman senator 190 00:11:05,760 --> 00:11:08,800 Speaker 1: in his Congress to be a subcommittee chterminan on form 191 00:11:08,800 --> 00:11:10,920 Speaker 1: relations More coming up decks, we check in with the markets. 192 00:11:10,920 --> 00:11:17,200 Speaker 1: I'm Kevin Sirelli. You're listening to Bloomberg. You're listening to Bloomberg. 193 00:11:17,280 --> 00:11:21,400 Speaker 1: Sound on with Kevin Surrele on Bloomberg and one oh 194 00:11:21,480 --> 00:11:24,360 Speaker 1: five point seven f M h D two. My name 195 00:11:24,400 --> 00:11:27,480 Speaker 1: is Kevin Cirelli. I'm the chief Washington correspondent for Bloomberg 196 00:11:27,520 --> 00:11:30,559 Speaker 1: Television and from Bloomberg Radio. Let's check in on the 197 00:11:30,600 --> 00:11:34,800 Speaker 1: Bloomberg terminal. Stocks hitting a six week low as tech 198 00:11:34,880 --> 00:11:39,240 Speaker 1: slide accelerates. Reading from the Bloomberg terminal technology shares pushed 199 00:11:39,600 --> 00:11:44,000 Speaker 1: US stocks to a six week low as investors searched 200 00:11:44,080 --> 00:11:48,400 Speaker 1: for new catalyst to give direction to global markets. Dollar 201 00:11:48,440 --> 00:11:51,839 Speaker 1: strengthened and treasuries were a little changed. The SMP five 202 00:11:51,880 --> 00:11:55,280 Speaker 1: hundred fell for a third day after fluctuating between gains 203 00:11:55,280 --> 00:11:59,000 Speaker 1: and losses ahead of a so called quadruple witching on Friday, 204 00:11:59,280 --> 00:12:04,120 Speaker 1: a quarterly event that typically fuels trading and sometimes volatility 205 00:12:04,200 --> 00:12:07,960 Speaker 1: is large derivative positions roll over. Okay, so that's what 206 00:12:08,080 --> 00:12:10,200 Speaker 1: happened in terms of the markets. But take a listen 207 00:12:10,200 --> 00:12:12,400 Speaker 1: to what President Trump had to say about TikTok, because 208 00:12:12,440 --> 00:12:15,360 Speaker 1: that was what everybody was obsessed about. This morning and 209 00:12:15,400 --> 00:12:17,560 Speaker 1: throughout the day. We actually have a sound bite of 210 00:12:17,640 --> 00:12:21,199 Speaker 1: President Trump discussing TikTok, and then I'll give you the latest. 211 00:12:21,240 --> 00:12:24,400 Speaker 1: Here's the President talking about TikTok earlier today. I think 212 00:12:24,440 --> 00:12:28,000 Speaker 1: you go quickly. We have great companies talking to us 213 00:12:28,120 --> 00:12:31,080 Speaker 1: about it. You know about Oracle, you know Microsoft has 214 00:12:31,120 --> 00:12:33,840 Speaker 1: been involved, and let's see whether or not they're continuing 215 00:12:33,960 --> 00:12:38,800 Speaker 1: to be involved. Walmart is truly a great company. They're 216 00:12:38,880 --> 00:12:41,640 Speaker 1: very much involved. They want to do something. So we 217 00:12:41,720 --> 00:12:44,320 Speaker 1: have some great options and maybe we can keep a 218 00:12:44,320 --> 00:12:47,120 Speaker 1: lot of people happy, but have the security that we need. 219 00:12:47,200 --> 00:12:50,200 Speaker 1: We have to have the total security from China. So 220 00:12:50,240 --> 00:12:53,040 Speaker 1: that was President Trump talking earlier today about TikTok. Because 221 00:12:53,080 --> 00:12:56,320 Speaker 1: the US move to expel the Chinese owned we Chat 222 00:12:56,760 --> 00:13:01,440 Speaker 1: and TikTok apps from the US app stores as of Sunday, 223 00:13:01,480 --> 00:13:05,280 Speaker 1: while reserving the right to reverse a ban on TikTok's 224 00:13:05,400 --> 00:13:09,000 Speaker 1: video streaming service once it can hammer out a deal 225 00:13:09,080 --> 00:13:13,480 Speaker 1: to satisfy national security concerns. So there's they're really going 226 00:13:13,559 --> 00:13:16,200 Speaker 1: to limit the amount of transactions that Americans can do 227 00:13:16,520 --> 00:13:18,920 Speaker 1: on we Chat and TikTok, and you're not going to 228 00:13:18,960 --> 00:13:22,720 Speaker 1: be able, uh to download an update of TikTok come 229 00:13:23,120 --> 00:13:27,200 Speaker 1: uh midnight Sunday at twelve o one am Monday morning. Now, 230 00:13:27,520 --> 00:13:30,040 Speaker 1: the President had originally said that he wanted to have 231 00:13:30,200 --> 00:13:35,000 Speaker 1: the United States, the companies Walmart oracles of the world 232 00:13:35,360 --> 00:13:38,320 Speaker 1: to be able to get a deal by September fifteen, 233 00:13:38,400 --> 00:13:41,320 Speaker 1: But now he's saying November twelve. So he got himself 234 00:13:41,360 --> 00:13:44,120 Speaker 1: some wig over him as uh, not just himself, but 235 00:13:44,200 --> 00:13:47,319 Speaker 1: as the AS folks are hammering out behind the scenes, 236 00:13:47,760 --> 00:13:52,040 Speaker 1: what's going to happen. The real reason that this is 237 00:13:52,040 --> 00:13:56,360 Speaker 1: is an issue is from a national security perspective. That's 238 00:13:56,360 --> 00:14:01,240 Speaker 1: what the administrations arguing. They're saying that the algorithm is 239 00:14:01,600 --> 00:14:05,440 Speaker 1: something that the US really wants to make sure that 240 00:14:05,480 --> 00:14:09,400 Speaker 1: they have because they don't like that the Communist Party 241 00:14:09,400 --> 00:14:12,960 Speaker 1: of China can be pushing videos onto the phones of 242 00:14:13,120 --> 00:14:16,880 Speaker 1: millions of of Americans. I want to bring in Julia Herman. 243 00:14:16,960 --> 00:14:22,040 Speaker 1: She's senior global strategy analysts at Cardika Management. And you know, Julia, 244 00:14:22,120 --> 00:14:28,040 Speaker 1: are we entering into a tech cold war with China? Um? 245 00:14:28,080 --> 00:14:30,360 Speaker 1: I think we can call it whatever we want. Thank 246 00:14:30,400 --> 00:14:32,880 Speaker 1: you so much for having me, but you're very right 247 00:14:32,880 --> 00:14:35,520 Speaker 1: that we need to contextualize all of this within the 248 00:14:35,560 --> 00:14:39,160 Speaker 1: expansion of the US definition of national security. Uh, the 249 00:14:39,160 --> 00:14:41,720 Speaker 1: tech side of things has been simmering for some time, 250 00:14:41,960 --> 00:14:45,040 Speaker 1: but the newer angles of that debate are also healthcare 251 00:14:45,120 --> 00:14:48,160 Speaker 1: and capital markets, which I can elaborate on, but just 252 00:14:48,240 --> 00:14:50,400 Speaker 1: to highlight on the health side, I think that the 253 00:14:50,480 --> 00:14:53,240 Speaker 1: US has also woken up to the fact that it 254 00:14:53,280 --> 00:14:56,920 Speaker 1: gets the vast majority of its pharmaceutical, medical supplies and 255 00:14:56,960 --> 00:15:01,480 Speaker 1: protective equipment from China. Um. We get a of our 256 00:15:01,520 --> 00:15:04,240 Speaker 1: advil entailennal inputs from China. I mean, who would have 257 00:15:04,280 --> 00:15:08,280 Speaker 1: thought that those medications would be involved in national security? UM, 258 00:15:08,360 --> 00:15:11,880 Speaker 1: So we're definitely seeing a much broader scope there. You know, 259 00:15:12,040 --> 00:15:14,920 Speaker 1: and and you know so much of what we hear, uh, 260 00:15:15,080 --> 00:15:18,920 Speaker 1: Julia Herman, senior Global strategy analysts at Cardiico Management, You 261 00:15:18,960 --> 00:15:22,120 Speaker 1: know so much of what we hear from folks in Washington. 262 00:15:22,360 --> 00:15:24,480 Speaker 1: And what while streets looking for clarity on is whether 263 00:15:24,560 --> 00:15:26,920 Speaker 1: or not there's going to be this decoupling, whether or 264 00:15:26,960 --> 00:15:30,440 Speaker 1: not there's going to be this disentanglement. Based upon your 265 00:15:30,480 --> 00:15:33,880 Speaker 1: analysis and what you're tracking, do you think that there's 266 00:15:33,920 --> 00:15:36,520 Speaker 1: going to be a significant decoupling? How do we even 267 00:15:36,520 --> 00:15:43,960 Speaker 1: define decoupling in this globalized economy. I think a decoupling 268 00:15:44,160 --> 00:15:47,240 Speaker 1: is pretty aspirational if we're thinking about that in terms 269 00:15:47,280 --> 00:15:51,480 Speaker 1: of a true separation of these economies, these markets. Um, 270 00:15:51,520 --> 00:15:55,920 Speaker 1: they're really intercally interlinked, like it or not. And obviously 271 00:15:55,920 --> 00:15:59,120 Speaker 1: both countries have had these uncomfortable realizations of how they 272 00:15:59,200 --> 00:16:01,640 Speaker 1: depend on each other there for their growth and development. 273 00:16:02,040 --> 00:16:05,200 Speaker 1: But both countries are up against a really huge economic 274 00:16:05,240 --> 00:16:09,160 Speaker 1: relationship here. Um, the value that they traded between each 275 00:16:09,160 --> 00:16:12,560 Speaker 1: other in twenty nineteen was almost worth the entire GDP 276 00:16:12,720 --> 00:16:17,520 Speaker 1: of Taiwan. And that's just the trade side. So when 277 00:16:18,160 --> 00:16:22,040 Speaker 1: when you look at the main key differences in terms 278 00:16:22,080 --> 00:16:26,160 Speaker 1: of how a Biden administration or how a Trump administration 279 00:16:26,320 --> 00:16:28,840 Speaker 1: term too would deal which I mean, do you think 280 00:16:28,880 --> 00:16:32,480 Speaker 1: that there's that this is becoming a nonpartisan issue, or 281 00:16:32,480 --> 00:16:35,920 Speaker 1: do you think that a democratic administration would seek to 282 00:16:36,040 --> 00:16:40,960 Speaker 1: utilize more multilateralism or how how do you view it? 283 00:16:40,960 --> 00:16:43,280 Speaker 1: It is clear that a tougher stance on China is 284 00:16:43,320 --> 00:16:47,040 Speaker 1: becoming a more bipartisan topic in the US and here 285 00:16:47,080 --> 00:16:49,720 Speaker 1: in Washington, we often hear an assumption that the US 286 00:16:49,800 --> 00:16:52,120 Speaker 1: has the upper hand when it comes to China, But 287 00:16:52,200 --> 00:16:54,680 Speaker 1: we need to remember that China has one thing here 288 00:16:54,680 --> 00:16:57,640 Speaker 1: that the US doesn't, and that is a geopolitical stance 289 00:16:57,760 --> 00:17:00,400 Speaker 1: that's aligned with the interests of its company needs and 290 00:17:00,440 --> 00:17:03,800 Speaker 1: its domestic investors. A big thing that She Jumping did 291 00:17:03,840 --> 00:17:06,760 Speaker 1: this week was rally the private sector of China. He 292 00:17:06,840 --> 00:17:10,080 Speaker 1: issued a directive that called for absolute party loyalty and 293 00:17:10,119 --> 00:17:13,159 Speaker 1: a queer direction of the private sector in tandem with 294 00:17:13,200 --> 00:17:16,320 Speaker 1: the party. And that is what they're calling a united front, 295 00:17:16,320 --> 00:17:20,120 Speaker 1: which signals a very coordinated response in UH in relation 296 00:17:20,160 --> 00:17:23,080 Speaker 1: to these tensions with the US. On the other hand, 297 00:17:23,240 --> 00:17:26,480 Speaker 1: sometimes the incentives in the US are less aligned. Many 298 00:17:26,560 --> 00:17:30,040 Speaker 1: companies view China as a massive consumer market, and they 299 00:17:30,080 --> 00:17:33,159 Speaker 1: certainly don't look favorably on their products or their inputs 300 00:17:33,200 --> 00:17:37,359 Speaker 1: inputs for their products being subjected to tariffs. Speaking from 301 00:17:37,400 --> 00:17:41,640 Speaker 1: the international investor perspective, the global recovery has absolutely come 302 00:17:41,640 --> 00:17:45,679 Speaker 1: out of China. It comprises a huge share of global indexes, 303 00:17:45,840 --> 00:17:49,680 Speaker 1: especially in the emerging markets. So I gotta I gotta interrupt, 304 00:17:49,720 --> 00:17:53,400 Speaker 1: I gotta politely interrupt my friend Julia, because listen, I mean, look, 305 00:17:53,680 --> 00:17:57,320 Speaker 1: I I the global recovery coming out of China. What 306 00:17:57,400 --> 00:17:59,320 Speaker 1: do you mean by that? I mean, yes, their GDP 307 00:17:59,480 --> 00:18:02,040 Speaker 1: is projected to grow by single digits. But look, there's 308 00:18:02,040 --> 00:18:05,239 Speaker 1: no global recovery without America. There's no global recovery if 309 00:18:05,280 --> 00:18:08,520 Speaker 1: America is enable. I mean, we're still number one economy 310 00:18:08,520 --> 00:18:10,879 Speaker 1: in the world. So I mean I hear you on 311 00:18:10,920 --> 00:18:13,800 Speaker 1: the sense that the Chinese are are they at the 312 00:18:13,800 --> 00:18:16,080 Speaker 1: player role? You can't ignore them. Their number two, You 313 00:18:16,119 --> 00:18:19,480 Speaker 1: can't ignore number two. But listen, number one still has 314 00:18:19,640 --> 00:18:22,640 Speaker 1: is still you know, has A, has A has a 315 00:18:22,680 --> 00:18:25,159 Speaker 1: major major role to play here. Look no further than 316 00:18:25,200 --> 00:18:28,040 Speaker 1: the front page of the Wall Street Journal today, where 317 00:18:28,080 --> 00:18:33,760 Speaker 1: you've got Germany, Germany German Chancellor Angela Markel taking a 318 00:18:33,840 --> 00:18:36,679 Speaker 1: second look at how they're dealing with the Chinese. And 319 00:18:36,680 --> 00:18:38,560 Speaker 1: there may be thinking, you know what, maybe we've got 320 00:18:38,600 --> 00:18:43,080 Speaker 1: to take a more aggressive approach, right, But I mean, 321 00:18:43,240 --> 00:18:45,960 Speaker 1: like it or not, China is the only major global 322 00:18:46,040 --> 00:18:49,639 Speaker 1: economy that's expected to post any positive growth this year. 323 00:18:49,720 --> 00:18:53,200 Speaker 1: And why is the function? Why is that? That's really 324 00:18:53,240 --> 00:18:55,480 Speaker 1: because they were first in and first out when it 325 00:18:55,520 --> 00:18:58,960 Speaker 1: came to the coronavirus, and they've had an extremely targeted 326 00:18:59,040 --> 00:19:02,159 Speaker 1: and effective emulus that actually I think shows a lot 327 00:19:02,200 --> 00:19:05,240 Speaker 1: of restraint on their part, and they've seen a large 328 00:19:05,320 --> 00:19:10,360 Speaker 1: manufacturing export recovery Interestingly, August activity figures for China came 329 00:19:10,400 --> 00:19:14,200 Speaker 1: out recently and it showed that exports of medical equipment 330 00:19:14,200 --> 00:19:18,040 Speaker 1: and protective gear were a big contributor to Chinese growth. 331 00:19:18,160 --> 00:19:20,479 Speaker 1: So that's kind of building on what we hear of 332 00:19:20,520 --> 00:19:24,159 Speaker 1: as mask diplomacy, in which China is reaching out and 333 00:19:24,200 --> 00:19:26,960 Speaker 1: sending more medical supplies around certain parts of the world 334 00:19:27,520 --> 00:19:31,359 Speaker 1: for a price. Let's not let's not forget. I mean 335 00:19:31,400 --> 00:19:33,919 Speaker 1: they're doing it in Africa for for a price. You know, 336 00:19:34,040 --> 00:19:35,320 Speaker 1: That's what I want to ask. And once we are 337 00:19:35,359 --> 00:19:38,119 Speaker 1: finally out of that thing, this thing is general, is 338 00:19:38,200 --> 00:19:43,000 Speaker 1: president she going to have to face more scrutiny from 339 00:19:43,000 --> 00:19:47,920 Speaker 1: the international community? What do you think? UM? I think 340 00:19:47,960 --> 00:19:53,000 Speaker 1: that that's probably likely. Um. Obviously the main geopolitical touch points, 341 00:19:53,000 --> 00:19:55,439 Speaker 1: it's been a noisy week on the news front, and 342 00:19:55,520 --> 00:19:58,400 Speaker 1: the one that's top of mind for us as investors 343 00:19:58,560 --> 00:20:02,080 Speaker 1: is obviously Hong Kong. Fortunately, I think that that's one 344 00:20:02,119 --> 00:20:05,600 Speaker 1: part of this we don't need to lose much sleepover. UM. 345 00:20:05,640 --> 00:20:07,920 Speaker 1: I think that she will need to reckon with Hong 346 00:20:08,000 --> 00:20:10,359 Speaker 1: Kong when it comes to two things, rule of law 347 00:20:10,480 --> 00:20:14,120 Speaker 1: and the freely traded pegged currency that it has Hong 348 00:20:14,200 --> 00:20:17,240 Speaker 1: Kong is the conduit for so many flows into China, 349 00:20:17,440 --> 00:20:18,840 Speaker 1: and we gotta live it there. I got, I got 350 00:20:18,920 --> 00:20:20,800 Speaker 1: up against the heartbreak. Plus you know they've got answer 351 00:20:20,800 --> 00:20:22,600 Speaker 1: for what they're going to the weaker, all right. Julia Herman, 352 00:20:22,680 --> 00:20:25,320 Speaker 1: Senior Global Strategy Analysts of Carter Cole Management. Coming up. 353 00:20:25,400 --> 00:20:28,520 Speaker 1: We jumped Capitol Hill on fiscal stimulus. I'm Kevin's really 354 00:20:28,560 --> 00:20:31,600 Speaker 1: chief Washington correspondent for Bloomberg Television of Bloomberg Radio. You're 355 00:20:31,600 --> 00:20:38,679 Speaker 1: listening to Bloomberg. Why how do we reopen this economy? 356 00:20:38,800 --> 00:20:41,919 Speaker 1: The latest on how this pandemic is impacting farmers? What 357 00:20:42,040 --> 00:20:45,040 Speaker 1: does this do for the United States relationship with China? 358 00:20:45,200 --> 00:20:50,120 Speaker 1: Bloomberg Sound on the insiders, the influencers, the inside. We're 359 00:20:50,160 --> 00:20:53,320 Speaker 1: responding to this crisis and manufacturers are stepping up like 360 00:20:53,480 --> 00:20:57,040 Speaker 1: never before. We're looking at seventy kimmidys for different vaccines. 361 00:20:57,080 --> 00:20:59,760 Speaker 1: How do we make sure a pandemic of this scale 362 00:20:59,760 --> 00:21:03,879 Speaker 1: never happens again? This is Bloomberg Sound On with Ken 363 00:21:04,640 --> 00:21:12,040 Speaker 1: on Bloomberg Two. Can President Trump bad TikTok's citing national 364 00:21:12,240 --> 00:21:15,960 Speaker 1: concert security concerns. We'll bring you the latest on that 365 00:21:16,080 --> 00:21:20,199 Speaker 1: tech intellectual property to bacable, He's citing national security from 366 00:21:20,200 --> 00:21:22,840 Speaker 1: the Communist Party of China, plus the latest on fiscal 367 00:21:22,960 --> 00:21:29,840 Speaker 1: stimulus and can eating healthy save our community's money. An 368 00:21:29,880 --> 00:21:32,920 Speaker 1: exclusive conversation with one of the leading health and wellness 369 00:21:33,040 --> 00:21:35,720 Speaker 1: experts in the world, Dr Mark Kheyman. Lots to get through, 370 00:21:35,760 --> 00:21:38,399 Speaker 1: but first we made it to Friday, folks. Congratulations, another 371 00:21:38,440 --> 00:21:42,600 Speaker 1: week down under our belts. We've got a lot to 372 00:21:42,600 --> 00:21:44,959 Speaker 1: get through today. I want to start things off with 373 00:21:45,080 --> 00:21:49,560 Speaker 1: physical stimulus because we've got former Alaska Senator Mark Beggatt here, 374 00:21:49,560 --> 00:21:53,479 Speaker 1: he's now a strategic consulting advisor Bouncing Hyatt, Farber and Shrek, 375 00:21:53,720 --> 00:21:56,560 Speaker 1: as well as Brendan Buck who is a partner at 376 00:21:56,640 --> 00:21:59,639 Speaker 1: seven Letter, and former spokesman and adviser to House Speaker 377 00:22:00,040 --> 00:22:03,120 Speaker 1: Paul Ryan. All Right, but first, folks, I want to 378 00:22:03,200 --> 00:22:06,560 Speaker 1: play for you a portion of an interview that my 379 00:22:06,720 --> 00:22:10,480 Speaker 1: colleague David Weston did today with Speaker of the House 380 00:22:10,560 --> 00:22:16,159 Speaker 1: Nancy Pelosi. Yes, Speaker Pelosi and Speaker Pelosi uh was 381 00:22:16,240 --> 00:22:18,320 Speaker 1: talking about whether or not there's going to be a 382 00:22:18,320 --> 00:22:21,320 Speaker 1: fiscal stimulus before the election, and she was also talking 383 00:22:21,359 --> 00:22:24,840 Speaker 1: about another pressing matter that lawmakers in the House have 384 00:22:24,960 --> 00:22:27,240 Speaker 1: to get done by the end of the month, and 385 00:22:27,280 --> 00:22:31,800 Speaker 1: that is passing a stop gap government funding bill so 386 00:22:31,840 --> 00:22:34,119 Speaker 1: that it can get to a floor vote by early 387 00:22:34,160 --> 00:22:36,320 Speaker 1: next week. Take a listen to what she said. Now, 388 00:22:36,320 --> 00:22:40,199 Speaker 1: we're just working out the details, but we hope to 389 00:22:40,240 --> 00:22:41,960 Speaker 1: have it today so that we can bring it to 390 00:22:42,000 --> 00:22:45,280 Speaker 1: the floor early next week and then go to the Senate, 391 00:22:45,440 --> 00:22:47,800 Speaker 1: which usually takes a little bit longer in terms of 392 00:22:47,840 --> 00:22:50,760 Speaker 1: their process, so that by the end of the fiscal year, 393 00:22:50,800 --> 00:22:54,199 Speaker 1: which is septem there will be no question that the 394 00:22:54,240 --> 00:22:56,880 Speaker 1: government will be open. All right. So she went on 395 00:22:56,920 --> 00:23:00,960 Speaker 1: to say in that interview, uh, the she's willing to 396 00:23:01,000 --> 00:23:05,240 Speaker 1: negotiate on some democratic priorities for a stimulus package to 397 00:23:05,400 --> 00:23:08,960 Speaker 1: include aid for industries such as airlines and restaurants that 398 00:23:09,000 --> 00:23:12,880 Speaker 1: are continuing uh to struggle, But she's not backing away 399 00:23:13,000 --> 00:23:16,199 Speaker 1: from that two point to trillion dollar package that she 400 00:23:16,800 --> 00:23:20,600 Speaker 1: and Senate Democratic Leader Chuck Schumer had proposed, So that 401 00:23:20,760 --> 00:23:24,320 Speaker 1: top line two point to trill is still her her 402 00:23:24,359 --> 00:23:27,480 Speaker 1: bottom line. Former Senator Mark Beggit, I mean, is she 403 00:23:27,600 --> 00:23:29,800 Speaker 1: gonna have to walk away from that? I mean, this 404 00:23:29,880 --> 00:23:33,719 Speaker 1: is just a lot of political volatility. Yeah. I well, 405 00:23:33,720 --> 00:23:35,600 Speaker 1: there's two things I wanted just to hit on if 406 00:23:35,600 --> 00:23:37,600 Speaker 1: I could just the second on the cr You know, 407 00:23:37,680 --> 00:23:40,840 Speaker 1: that's like deja vu every time they hear you know, 408 00:23:40,920 --> 00:23:43,600 Speaker 1: it doesn't matter who's in charge, that is cannot help 409 00:23:43,680 --> 00:23:47,960 Speaker 1: themselves in stringing the government and the public and the 410 00:23:48,000 --> 00:23:52,200 Speaker 1: whole ECONMOMY to the brink because they're incapable of making decisions. 411 00:23:52,200 --> 00:23:54,119 Speaker 1: Now I can say that I was there, I know 412 00:23:54,160 --> 00:23:57,560 Speaker 1: what it was like now and I'm sure I'll hear 413 00:23:57,600 --> 00:24:00,040 Speaker 1: from my former colleagues on both sides. Aisle, now that 414 00:24:00,119 --> 00:24:03,440 Speaker 1: I've said this, but let me say that I think 415 00:24:03,840 --> 00:24:07,080 Speaker 1: the number is going to still be big no matter 416 00:24:07,119 --> 00:24:09,040 Speaker 1: how you got a two point two. You might have 417 00:24:09,080 --> 00:24:11,520 Speaker 1: to come off of that. But I think there's clear 418 00:24:12,240 --> 00:24:16,000 Speaker 1: need uh for local and state support with a lot 419 00:24:16,000 --> 00:24:18,679 Speaker 1: of flexibility because of some of the situations are running 420 00:24:18,680 --> 00:24:24,200 Speaker 1: into the airlines and restaurants, especially the restaurant industry. Hospitality 421 00:24:24,240 --> 00:24:28,920 Speaker 1: industry has been hit really hard, disproportionate in many ways 422 00:24:28,960 --> 00:24:32,000 Speaker 1: from any of the parts of the economy. The Democrats 423 00:24:32,080 --> 00:24:34,119 Speaker 1: will have to come to the table on that issue 424 00:24:34,119 --> 00:24:38,840 Speaker 1: without question, because the people who are working in those industries, 425 00:24:39,520 --> 00:24:42,760 Speaker 1: a lot of them are unemployment, which is a democratic priority. 426 00:24:42,840 --> 00:24:46,120 Speaker 1: So why not try to help create the job put 427 00:24:46,160 --> 00:24:47,760 Speaker 1: them back to work. So I think there's going to 428 00:24:47,840 --> 00:24:51,280 Speaker 1: be a tuggle war. But you know, we're fifty days 429 00:24:51,359 --> 00:24:53,439 Speaker 1: or so from the election, and people are just going 430 00:24:53,520 --> 00:24:55,800 Speaker 1: to plant their flag and fight their fight and try 431 00:24:55,800 --> 00:24:58,600 Speaker 1: to get their fight percent here to percent their and voters. 432 00:24:58,760 --> 00:25:00,840 Speaker 1: That's what you're seeing I think right now out is 433 00:25:00,840 --> 00:25:02,400 Speaker 1: that what we're seeing, Brendan, I mean, is that what's 434 00:25:02,440 --> 00:25:05,320 Speaker 1: really going going on when the sausage gets made behind 435 00:25:05,359 --> 00:25:07,879 Speaker 1: the scenes right now, is that they're actually saying, I 436 00:25:07,920 --> 00:25:10,480 Speaker 1: want this much for this project in McCombe County, I 437 00:25:10,520 --> 00:25:12,679 Speaker 1: want this for Kenosha. You know, is that is that 438 00:25:12,720 --> 00:25:15,800 Speaker 1: really what we're seeing or or are they just are? 439 00:25:15,920 --> 00:25:18,960 Speaker 1: Are Leader McConnell and Speaker Pelosi is still staring each 440 00:25:18,960 --> 00:25:22,720 Speaker 1: other down and saying who's gonna blink first? Yeah, Hey, Kevin, 441 00:25:22,840 --> 00:25:25,960 Speaker 1: you know I think that Pelosi is actually really just 442 00:25:26,040 --> 00:25:28,560 Speaker 1: running out the clock. I really can't look at it 443 00:25:28,560 --> 00:25:30,399 Speaker 1: any other way. I mean, we we are at a 444 00:25:30,440 --> 00:25:33,399 Speaker 1: time basically, you both know as well as I do. 445 00:25:33,440 --> 00:25:36,000 Speaker 1: When they found the government next week, that's it. They're 446 00:25:36,040 --> 00:25:39,399 Speaker 1: out of here until the election. Um and I have 447 00:25:39,600 --> 00:25:42,880 Speaker 1: been involved in a number of negotiations with Speaker Pelosi. 448 00:25:43,000 --> 00:25:45,359 Speaker 1: Over my years, I know what it's like when she 449 00:25:45,440 --> 00:25:47,800 Speaker 1: wants something. This is not what it looks like when 450 00:25:47,800 --> 00:25:50,520 Speaker 1: she wants something. She she is running out the clock. 451 00:25:50,640 --> 00:25:53,960 Speaker 1: She she's making excuses. I thought, I do think there's 452 00:25:54,000 --> 00:25:56,399 Speaker 1: a chance for a deal still to come together, but 453 00:25:56,440 --> 00:25:59,080 Speaker 1: that's only because she's really started to get pressure from 454 00:25:59,080 --> 00:26:03,080 Speaker 1: her own side. You saw Rankin's file members come together, 455 00:26:03,200 --> 00:26:06,040 Speaker 1: the Problem Solvers Caucus put together a bill. You saw 456 00:26:06,119 --> 00:26:09,480 Speaker 1: some uh sort of swing state moderate Democrats starting to 457 00:26:09,480 --> 00:26:12,640 Speaker 1: put pressure on her thing we need to do something. Um. 458 00:26:13,320 --> 00:26:15,800 Speaker 1: But you know, if she wanted to work towards the deal, 459 00:26:15,960 --> 00:26:18,560 Speaker 1: she would be meeting with with Mark Meadows and steep 460 00:26:18,600 --> 00:26:21,080 Speaker 1: manitution She's just not doing that. So I've come to 461 00:26:21,080 --> 00:26:23,720 Speaker 1: to really no other conclusion than that that she's waiting 462 00:26:23,760 --> 00:26:26,000 Speaker 1: for this, for this to the clock to run out, 463 00:26:26,040 --> 00:26:28,119 Speaker 1: because she thinks that there's political benefit to doing this 464 00:26:28,200 --> 00:26:30,560 Speaker 1: after the election, you know, And I got it. Let 465 00:26:30,600 --> 00:26:32,600 Speaker 1: me follow up with Brandon before I bring before I 466 00:26:32,640 --> 00:26:34,400 Speaker 1: bring it back to the center, because I mean, this 467 00:26:34,480 --> 00:26:39,040 Speaker 1: is a massive political gamble for the for the minority 468 00:26:39,160 --> 00:26:42,119 Speaker 1: party right now, the party not occupying the White House. 469 00:26:42,640 --> 00:26:45,199 Speaker 1: Just forget about the names for a second. But but 470 00:26:45,280 --> 00:26:49,000 Speaker 1: the calculation that the Speaker is making right now is 471 00:26:49,040 --> 00:26:53,120 Speaker 1: that the current party that occupies the White House will 472 00:26:53,160 --> 00:26:57,360 Speaker 1: lose the election and then in a lame duck they 473 00:26:57,400 --> 00:27:03,240 Speaker 1: will have more of more leverage in terms of negotiating. 474 00:27:03,400 --> 00:27:06,959 Speaker 1: That's a lot of what ifs, especially when they're just 475 00:27:07,080 --> 00:27:12,080 Speaker 1: appears to be so much one economic pain and secondly 476 00:27:12,600 --> 00:27:16,880 Speaker 1: a lot of uncertainties just about how the election process 477 00:27:17,040 --> 00:27:20,120 Speaker 1: is going to even play out even if they do win. 478 00:27:20,480 --> 00:27:23,119 Speaker 1: But but with the mail and voting, I mean, this 479 00:27:23,240 --> 00:27:27,879 Speaker 1: is going to be a very volatile, volatile November, arguably. 480 00:27:27,920 --> 00:27:32,280 Speaker 1: Brendan Buck I thought I thought that the uh, there 481 00:27:32,320 --> 00:27:34,679 Speaker 1: was a conventional wisdom coming into all this was that 482 00:27:34,720 --> 00:27:36,080 Speaker 1: there was going to be a deal and that it 483 00:27:36,119 --> 00:27:37,760 Speaker 1: would be crazy for them not to do a deal. 484 00:27:37,760 --> 00:27:40,000 Speaker 1: And I brought into that. But everything that I have 485 00:27:40,119 --> 00:27:43,199 Speaker 1: seen leads me to believe that she doesn't want one. Um. 486 00:27:43,240 --> 00:27:46,880 Speaker 1: You know, not only did a compromised deal come out 487 00:27:47,000 --> 00:27:49,880 Speaker 1: this week and she said no, she actually organized her 488 00:27:50,040 --> 00:27:53,000 Speaker 1: entire leadership, all of her committee chairs, to stop on it. 489 00:27:53,280 --> 00:27:54,840 Speaker 1: You know, she was trying to make a point, no, 490 00:27:55,040 --> 00:27:58,160 Speaker 1: you're not going to negotiate without me. Um And maybe 491 00:27:58,200 --> 00:27:59,959 Speaker 1: one thing if she was doing that and then stepping 492 00:28:00,000 --> 00:28:02,000 Speaker 1: into a room with somebody to try to work something out. 493 00:28:02,000 --> 00:28:03,960 Speaker 1: But she is holding a firm line and really showing 494 00:28:04,040 --> 00:28:06,159 Speaker 1: no evidence that you want to negotiate it. It's one 495 00:28:06,160 --> 00:28:08,199 Speaker 1: thing to take out a heart position when you're a 496 00:28:08,280 --> 00:28:10,560 Speaker 1: month out. You know, we basically have five days for 497 00:28:10,600 --> 00:28:13,520 Speaker 1: them to figure this out. It's really difficult for them 498 00:28:13,520 --> 00:28:16,320 Speaker 1: to be able to pull that off before. Yeah, I 499 00:28:16,359 --> 00:28:18,080 Speaker 1: was gonna say, but you know, it's on the flip 500 00:28:18,119 --> 00:28:21,040 Speaker 1: side to you know, Mitch McConnell, and I don't think 501 00:28:21,240 --> 00:28:23,840 Speaker 1: there's so much politics right now. Who's going to score 502 00:28:23,840 --> 00:28:26,080 Speaker 1: out of this and the day and you know, the 503 00:28:26,160 --> 00:28:28,840 Speaker 1: load line is the people who loses, the jaxpayers at 504 00:28:28,880 --> 00:28:30,640 Speaker 1: the end of the day in the public. But Mitch 505 00:28:30,720 --> 00:28:34,840 Speaker 1: McConnell puts out that you know thin, you know stiments Bill, 506 00:28:35,080 --> 00:28:37,360 Speaker 1: that was just a shot of his base over there, 507 00:28:37,359 --> 00:28:39,960 Speaker 1: of his people, and then you don't hear Pete problem. 508 00:28:39,960 --> 00:28:41,920 Speaker 1: So it kind of goes both ways. They're all playing, 509 00:28:42,360 --> 00:28:45,240 Speaker 1: you know, and that's a dangerous thing in an economy 510 00:28:45,280 --> 00:28:48,640 Speaker 1: that I believe it's still very very fragile. I think 511 00:28:48,680 --> 00:28:53,000 Speaker 1: you're underlying issues that you see from companies tell you that, um, 512 00:28:53,120 --> 00:28:55,920 Speaker 1: And so they're all kind of jocking to see who 513 00:28:56,240 --> 00:28:59,680 Speaker 1: is going to win in November, and we're all kind 514 00:28:59,720 --> 00:29:03,720 Speaker 1: of hanging out there in the public or do something, 515 00:29:03,760 --> 00:29:05,920 Speaker 1: because I think at the end of the day, the 516 00:29:06,040 --> 00:29:08,080 Speaker 1: voter is gonna walk into that boot and they're gonna 517 00:29:08,080 --> 00:29:11,680 Speaker 1: blame everybody, and they're gonna say I've had it. And 518 00:29:11,720 --> 00:29:13,640 Speaker 1: if you happen to be an incumbent that doesn't have 519 00:29:13,680 --> 00:29:17,440 Speaker 1: a wide margin of victory, you better buckle in. And 520 00:29:17,520 --> 00:29:19,720 Speaker 1: so that's kind of how I see it. It's just 521 00:29:19,800 --> 00:29:23,800 Speaker 1: remarkable just to see how oh at breaking news headline 522 00:29:23,800 --> 00:29:26,520 Speaker 1: crossing the Bloomberg terminal right now, a red headline crossing 523 00:29:26,520 --> 00:29:30,200 Speaker 1: the Bloomberg terminal right now that Democrats and Republicans have 524 00:29:30,320 --> 00:29:33,960 Speaker 1: reached a deal on the stop gap to avert the 525 00:29:34,040 --> 00:29:38,920 Speaker 1: October first shutdown again. Uh, that they have reached a 526 00:29:38,960 --> 00:29:41,440 Speaker 1: deal for the stop gap, but no deal on the 527 00:29:41,480 --> 00:29:44,080 Speaker 1: fiscal stimulus. All right, So they're gonna keep the government 528 00:29:44,080 --> 00:29:48,320 Speaker 1: open to to avoid that October for for a couple 529 00:29:48,320 --> 00:29:50,960 Speaker 1: of months. They're going to kick the can down the road, alright, 530 00:29:50,960 --> 00:29:53,160 Speaker 1: Panel States with me coming up, we're gonna talk about 531 00:29:53,280 --> 00:29:55,440 Speaker 1: US China relations. My name is Kevin Curley. I'm the 532 00:29:55,520 --> 00:29:59,840 Speaker 1: chief Washington correspondent for Bloomberg Television and Bloomberg Radio. I 533 00:30:00,000 --> 00:30:01,920 Speaker 1: guess the news gods were smiling down to me. Here 534 00:30:01,960 --> 00:30:04,440 Speaker 1: we are talking about it, and then bamp, you get 535 00:30:04,440 --> 00:30:07,800 Speaker 1: the red headline. It's Friday, folks, granting our rhythm. It's 536 00:30:07,880 --> 00:30:11,040 Speaker 1: right into the weekend, beautiful day here in the nation's capital. 537 00:30:11,160 --> 00:30:17,280 Speaker 1: You're listening Bloomberg. This is Bloomberg Sound On with Kevin 538 00:30:17,360 --> 00:30:21,560 Speaker 1: Shirley on Bloomberg and one oh five point seven f 539 00:30:21,720 --> 00:30:24,680 Speaker 1: M h D two. My name is Kevin, Sir. Really, 540 00:30:25,680 --> 00:30:30,560 Speaker 1: I am the chief Washington correspondent for Bloomberg Television in 541 00:30:30,560 --> 00:30:36,840 Speaker 1: Bloomberg Radio. And uh, we're approaching a very dark new 542 00:30:36,920 --> 00:30:41,960 Speaker 1: milestone two hundred thousand virus deaths. I'm reading from Emma 543 00:30:42,040 --> 00:30:44,840 Speaker 1: Courts reporting on the Bloomberg terminal. The US will top 544 00:30:44,840 --> 00:30:47,320 Speaker 1: two hundred thousand deaths from the novel coronavirus in the 545 00:30:47,360 --> 00:30:50,840 Speaker 1: coming days, a devastating milestone that comes eight months after 546 00:30:50,880 --> 00:30:54,800 Speaker 1: the pathogen was first confirmed on American soil. The US, 547 00:30:54,840 --> 00:30:57,600 Speaker 1: with four percent of the world's population, accounts for about 548 00:30:59,120 --> 00:31:05,720 Speaker 1: of global corona virus deaths. A really, really dark headline 549 00:31:06,240 --> 00:31:09,520 Speaker 1: on on a Friday as we head into the weekend 550 00:31:09,560 --> 00:31:12,840 Speaker 1: running bucks with me. He's a Republican and a partner 551 00:31:12,880 --> 00:31:16,520 Speaker 1: at seven Letter, former partner at seven Letter and former 552 00:31:16,520 --> 00:31:19,480 Speaker 1: spokesman and advisor to House Speaker Paul Ryan and former 553 00:31:19,520 --> 00:31:23,160 Speaker 1: Alaska Senator Mark Beggett, who is a strategic consulting advisor 554 00:31:23,160 --> 00:31:27,000 Speaker 1: at Brownsteing Hyatt Farber and check you know Mark Senator Beggat. 555 00:31:27,480 --> 00:31:32,160 Speaker 1: I just so it's a number I can't comprehend. Yeah, 556 00:31:32,480 --> 00:31:34,440 Speaker 1: it's it's a big number. And I think it's hard 557 00:31:34,480 --> 00:31:38,760 Speaker 1: for anyone to comprehend it. And I think, you know, besides, uh, 558 00:31:38,800 --> 00:31:41,000 Speaker 1: you know, the ATHLETs we all have to make, you know, 559 00:31:41,280 --> 00:31:44,800 Speaker 1: every effort beside the socialist name the mass that people 560 00:31:44,840 --> 00:31:47,760 Speaker 1: need to where I know there's people that believe it's 561 00:31:47,760 --> 00:31:50,960 Speaker 1: a conspiracy and its mask. People are dying, and you 562 00:31:51,000 --> 00:31:54,800 Speaker 1: need to do everything you can to prevent yourself from 563 00:31:55,360 --> 00:31:58,280 Speaker 1: uh catching it or sharing it with someone if you 564 00:31:58,320 --> 00:32:01,959 Speaker 1: have it. But saying all at, I think you know, 565 00:32:02,120 --> 00:32:05,320 Speaker 1: we have to do everything we can on the medical land, 566 00:32:05,560 --> 00:32:08,160 Speaker 1: and we shouldn't push it. We should get at the 567 00:32:08,200 --> 00:32:09,880 Speaker 1: folks do what they need to do. There's a lot 568 00:32:09,960 --> 00:32:13,080 Speaker 1: of vaccines in play right now. And you know, we 569 00:32:13,200 --> 00:32:16,120 Speaker 1: got great scientists, not only of course in our country 570 00:32:16,120 --> 00:32:19,080 Speaker 1: but around the world. But it's an amazing, staggering number. 571 00:32:19,120 --> 00:32:21,480 Speaker 1: And you know, my wife and son just left on 572 00:32:21,520 --> 00:32:23,920 Speaker 1: a plane today. They did their rapid test. They're doing 573 00:32:23,960 --> 00:32:26,720 Speaker 1: all the things. They got the shield. I mean, it's 574 00:32:26,720 --> 00:32:28,800 Speaker 1: a whole new day until we figure this out. But 575 00:32:28,880 --> 00:32:31,080 Speaker 1: you've got to take the precautions. But it's a big number. 576 00:32:31,080 --> 00:32:32,959 Speaker 1: It's not a good number to have on a on 577 00:32:32,960 --> 00:32:35,040 Speaker 1: a Friday, that's for sure. No, it's not take a 578 00:32:35,040 --> 00:32:36,800 Speaker 1: listen to what President Trump had to say about the 579 00:32:36,840 --> 00:32:40,280 Speaker 1: vaccine update here is hundreds of millions of doses will 580 00:32:40,280 --> 00:32:43,640 Speaker 1: be available every month, and we expect to have enough 581 00:32:43,720 --> 00:32:50,240 Speaker 1: vaccines for every American by April. You know, Brendan I 582 00:32:50,280 --> 00:32:52,280 Speaker 1: have said this and I and it's you know, we're 583 00:32:52,320 --> 00:32:55,840 Speaker 1: living in such politicized times. I don't have to convinced 584 00:32:55,920 --> 00:32:58,160 Speaker 1: either of you of that. Uh. And we have to 585 00:32:58,200 --> 00:33:01,320 Speaker 1: be so incredibly careful, especially in the media, with how 586 00:33:01,320 --> 00:33:04,800 Speaker 1: we talk about vaccines, because they're so incredibly important to 587 00:33:04,880 --> 00:33:08,960 Speaker 1: the public health and wellness of society. Even you know, 588 00:33:09,040 --> 00:33:11,880 Speaker 1: vaccinations as a whole are just a crucial tool that 589 00:33:11,920 --> 00:33:15,240 Speaker 1: we have for public health and public safety, and so 590 00:33:15,800 --> 00:33:21,800 Speaker 1: it's remarkable that February of this year, something like a 591 00:33:21,920 --> 00:33:25,239 Speaker 1: vaccine would never be politicized, and yet here we are 592 00:33:25,280 --> 00:33:28,240 Speaker 1: Brendan Buck, where a couple you know, forty plus days 593 00:33:28,240 --> 00:33:34,600 Speaker 1: out from from an election and the are the most 594 00:33:34,640 --> 00:33:38,480 Speaker 1: important vaccination process that this country has seen and you know, 595 00:33:39,120 --> 00:33:45,000 Speaker 1: decades is politicized. That's where we find ourselves. Brennan Buck. Yeah, 596 00:33:45,040 --> 00:33:49,000 Speaker 1: you know, I think the ultimately comes from obviously a 597 00:33:49,680 --> 00:33:52,440 Speaker 1: long track record of the president of being fast and 598 00:33:52,480 --> 00:33:56,640 Speaker 1: loose with the facts, UM and attacking institutions. You know, 599 00:33:56,720 --> 00:33:59,480 Speaker 1: the one thing that gives me hope and confidence in 600 00:33:59,480 --> 00:34:01,960 Speaker 1: this whole situation Wation UM is that there still are 601 00:34:02,000 --> 00:34:04,520 Speaker 1: a lot of really serious people who are working on 602 00:34:04,600 --> 00:34:07,360 Speaker 1: this throughout the government and in the private sector. It's 603 00:34:07,360 --> 00:34:10,840 Speaker 1: a it's a strange situation where I think perhaps American 604 00:34:10,920 --> 00:34:14,640 Speaker 1: drugmakers have more credibility than the President United States UM 605 00:34:14,920 --> 00:34:16,800 Speaker 1: in this situation. I think they really do. And I 606 00:34:16,840 --> 00:34:19,799 Speaker 1: don't think that any of them are UM I really 607 00:34:19,800 --> 00:34:23,840 Speaker 1: have any motive to to advance some type of therapy 608 00:34:23,880 --> 00:34:25,400 Speaker 1: that is going to hurt people. So, you know, I 609 00:34:25,640 --> 00:34:28,680 Speaker 1: think that a lot of the rhetoric on the Democratic 610 00:34:28,719 --> 00:34:33,560 Speaker 1: side in particular about being wary of vaccines is really unfortunate. 611 00:34:33,600 --> 00:34:35,840 Speaker 1: I understand where it comes from, with the President who 612 00:34:35,880 --> 00:34:39,520 Speaker 1: has sort of undermined uh science and public health throughout 613 00:34:39,520 --> 00:34:42,360 Speaker 1: this process. Um, but I still think, uh, you know 614 00:34:42,640 --> 00:34:44,560 Speaker 1: that we still have should have a lot of confidence 615 00:34:44,600 --> 00:34:46,640 Speaker 1: in the people who are ultimately responsible for those people 616 00:34:46,680 --> 00:34:50,360 Speaker 1: who are going to be presenting uh US a vaccine eventually. 617 00:34:50,880 --> 00:34:53,239 Speaker 1: And I think that, you know, whether it's in three 618 00:34:53,239 --> 00:34:55,400 Speaker 1: months or in six months, I do think that we 619 00:34:55,480 --> 00:34:57,239 Speaker 1: have hopefully some some light at the end of the 620 00:34:57,239 --> 00:35:02,040 Speaker 1: tunnel mark. You know, is enough sacred anymore? I mean 621 00:35:02,160 --> 00:35:05,319 Speaker 1: I say this not with naivety of someone who has 622 00:35:05,360 --> 00:35:09,800 Speaker 1: now been in covering Washington politics for close to a decade, 623 00:35:09,840 --> 00:35:12,919 Speaker 1: but as someone who's really trying to just figure this out. 624 00:35:12,960 --> 00:35:17,160 Speaker 1: I get the mistry, trust me, I get the mistrust 625 00:35:17,440 --> 00:35:21,160 Speaker 1: and institutions. I get it. I understand it. But is 626 00:35:21,239 --> 00:35:25,840 Speaker 1: nothing sacred anymore where when you've got you know, political parties, 627 00:35:25,880 --> 00:35:29,520 Speaker 1: politicians of all stripes throwing And I'm not excusing anyone. 628 00:35:29,560 --> 00:35:31,120 Speaker 1: I don't want to weigh in on that. It's not 629 00:35:31,200 --> 00:35:34,320 Speaker 1: my job, but it's nothing sacred anymore? When you've got 630 00:35:34,480 --> 00:35:39,400 Speaker 1: literally frontline workers and hospitals, you know, in the medical community, 631 00:35:39,719 --> 00:35:44,680 Speaker 1: people who are absolutely just hovering over microscopes trying to 632 00:35:44,800 --> 00:35:48,800 Speaker 1: figure out the vaccine. People who are you know, truck 633 00:35:48,880 --> 00:35:52,600 Speaker 1: drivers even shipping all of the equipment across the country 634 00:35:52,640 --> 00:35:56,600 Speaker 1: around the clock, from refrigerators to two glass vials. Just 635 00:35:56,680 --> 00:35:59,319 Speaker 1: to make sure we have the right number of equipment 636 00:35:59,680 --> 00:36:04,000 Speaker 1: so that the military and other frontline people can get 637 00:36:04,080 --> 00:36:07,560 Speaker 1: a vaccine once it's approved. Is nothing. I mean, I 638 00:36:07,600 --> 00:36:10,040 Speaker 1: don't know. It used to be that this would be 639 00:36:10,080 --> 00:36:13,719 Speaker 1: the one issue that no one would argue over. Yeah, 640 00:36:13,800 --> 00:36:16,719 Speaker 1: I agree with you. I think it seems like we 641 00:36:16,800 --> 00:36:21,319 Speaker 1: have gone far beyond what should have been done in 642 00:36:21,400 --> 00:36:23,880 Speaker 1: regards to the politics. I mean, I get the politics 643 00:36:23,920 --> 00:36:27,160 Speaker 1: as you get to election, but when you're now, Paul, 644 00:36:27,320 --> 00:36:28,920 Speaker 1: you know, doing politics. I mean, you can have a 645 00:36:28,960 --> 00:36:32,400 Speaker 1: debate over health care right as a broad policy, but 646 00:36:32,520 --> 00:36:35,160 Speaker 1: this is a little different. And I think there's not 647 00:36:35,280 --> 00:36:38,480 Speaker 1: a lot that seems to be sacred anymore. And I 648 00:36:38,480 --> 00:36:42,240 Speaker 1: think it's a it's it does damage to the political 649 00:36:42,280 --> 00:36:46,120 Speaker 1: process and the faith and institutions, which is critical for 650 00:36:46,160 --> 00:36:49,800 Speaker 1: a government or a society or a community to survive. 651 00:36:49,840 --> 00:36:54,120 Speaker 1: If you don't have faith in the institutions to some degree, Um, 652 00:36:54,440 --> 00:36:57,080 Speaker 1: then how do you know what's going to happen next? 653 00:36:57,120 --> 00:36:58,920 Speaker 1: And with you know what the rule of law or 654 00:36:58,960 --> 00:37:00,920 Speaker 1: whatever it might be going on. So I agree. I 655 00:37:00,960 --> 00:37:04,799 Speaker 1: think part of it also is the you know, I 656 00:37:04,960 --> 00:37:07,640 Speaker 1: like to comment that you know that was just said. 657 00:37:07,719 --> 00:37:12,560 Speaker 1: That was you know, pharmaceutical companies may be more popular 658 00:37:12,600 --> 00:37:15,680 Speaker 1: than the president. That's a rare thing in our world 659 00:37:15,760 --> 00:37:17,840 Speaker 1: that we live in, and I think people need to 660 00:37:18,080 --> 00:37:20,319 Speaker 1: kind of bring it down a few notches. And I 661 00:37:20,320 --> 00:37:22,400 Speaker 1: don't want to be partisan, but the president needs to 662 00:37:22,400 --> 00:37:24,480 Speaker 1: bring it down a few notches. Even his own party 663 00:37:24,520 --> 00:37:28,800 Speaker 1: taels of that. Because people may not like their leaders, 664 00:37:29,320 --> 00:37:31,680 Speaker 1: but they do listen to their leaders and hear what 665 00:37:31,719 --> 00:37:35,399 Speaker 1: they say. And so you've got to understand that and 666 00:37:35,560 --> 00:37:39,840 Speaker 1: be careful because you have an obligation and a responsibility 667 00:37:39,880 --> 00:37:42,840 Speaker 1: to lead your country or your city or your community. 668 00:37:43,360 --> 00:37:46,239 Speaker 1: And when you hyperventilate here and with all this kind 669 00:37:46,239 --> 00:37:49,760 Speaker 1: of uh, you know, I like to say, jibber jabber, 670 00:37:49,920 --> 00:37:51,759 Speaker 1: you end up in a lot of problems. There's a 671 00:37:52,600 --> 00:37:55,880 Speaker 1: technical word there, so you know, jibber jabber. On Friday 672 00:37:55,960 --> 00:37:58,880 Speaker 1: with Bred and Buck in former Laska Senator Mark Beggage. 673 00:37:58,880 --> 00:38:02,640 Speaker 1: I appreciate. Hey, I can jibberja jibber jabber every day. 674 00:38:02,760 --> 00:38:06,920 Speaker 1: You know. I'm Kevin surreally jibber jabber, chief Washington correspondent, 675 00:38:07,360 --> 00:38:11,839 Speaker 1: uh for Bloomberg. This is Bloomberg. I'm Kevin cereally, chief 676 00:38:11,880 --> 00:38:15,440 Speaker 1: Washington correspondent for Bloomberg Television and from Bloomberg Radio. And 677 00:38:15,480 --> 00:38:19,200 Speaker 1: I'm thrilled. So welcome to the program. Dr Mark Hyman, 678 00:38:19,280 --> 00:38:21,080 Speaker 1: he of course is the best selling author. He's got 679 00:38:21,120 --> 00:38:24,200 Speaker 1: a new book out called Food Fixed. I read it. 680 00:38:24,200 --> 00:38:27,160 Speaker 1: It really helped me. How do I say this, stay 681 00:38:27,400 --> 00:38:31,000 Speaker 1: stay in the healthy and wellness area during the COVID 682 00:38:31,120 --> 00:38:34,120 Speaker 1: nineteen struggle when all of those cookies and cheese, steaks 683 00:38:34,120 --> 00:38:39,319 Speaker 1: and dotr rhymon, they were looking pretty good during the lockdowns. 684 00:38:39,840 --> 00:38:42,680 Speaker 1: So you posted on Instagram something that really stayed with me, 685 00:38:43,080 --> 00:38:47,799 Speaker 1: and you posted a meal in a hospital, and it 686 00:38:47,960 --> 00:38:52,320 Speaker 1: really got me thinking about the the food that folks 687 00:38:52,360 --> 00:38:57,959 Speaker 1: are given in hospitals. Isn't that healthy? What is that illustrated? Well? 688 00:38:58,000 --> 00:39:01,239 Speaker 1: I had recently had back surgery and sort of just 689 00:39:01,560 --> 00:39:04,920 Speaker 1: shocked at the post quote surgical meal that I was 690 00:39:05,000 --> 00:39:06,719 Speaker 1: given in the morning. I woke up and it was 691 00:39:06,760 --> 00:39:08,520 Speaker 1: sitting by my bedside. I didn't order it, but it 692 00:39:08,560 --> 00:39:15,000 Speaker 1: was essentially cheerios, very sugary muffin, orange juice, more sugar, uh, 693 00:39:15,600 --> 00:39:19,400 Speaker 1: basically French toast with syrup. Uh. There was a banana 694 00:39:19,440 --> 00:39:22,680 Speaker 1: which I guess was healthy, but still high carbohydrate and 695 00:39:22,920 --> 00:39:26,360 Speaker 1: hydrogenated fats in a creamer, which is basically ruled by 696 00:39:26,360 --> 00:39:28,600 Speaker 1: the FDA is not actually safe to eat anymore, and 697 00:39:28,600 --> 00:39:31,120 Speaker 1: it's still in served in hospitals, And I'm like, well, 698 00:39:31,160 --> 00:39:33,600 Speaker 1: this is what they're serving a post out patient, which 699 00:39:33,640 --> 00:39:37,080 Speaker 1: is in diet that's driving inflammation. How is that a 700 00:39:37,120 --> 00:39:39,719 Speaker 1: good thing? And this is the same diet that we're 701 00:39:39,719 --> 00:39:42,840 Speaker 1: eating in America. It's the same diet that's driving diabetes, obesity, 702 00:39:42,840 --> 00:39:47,360 Speaker 1: heart disease, cancer, even dimension and depression. And it's also 703 00:39:47,560 --> 00:39:50,759 Speaker 1: the diet that is causing us to be increasingly susceptible 704 00:39:50,800 --> 00:39:54,600 Speaker 1: to COVID nineteen to more severe illness, to the risk 705 00:39:54,640 --> 00:39:58,280 Speaker 1: of hospital emission and even death. So diet and COVID 706 00:39:58,320 --> 00:40:01,759 Speaker 1: are highly connected, and it's why we're seeing this increasing 707 00:40:01,840 --> 00:40:05,760 Speaker 1: levels of death and disability and disease from COVID America. 708 00:40:05,800 --> 00:40:07,840 Speaker 1: There are other reasons, but this is a large reason. 709 00:40:07,920 --> 00:40:09,880 Speaker 1: I mean, if you look at Vietnam, one percent of 710 00:40:09,920 --> 00:40:13,759 Speaker 1: the populations obese, Here's they have one death. We have 711 00:40:14,120 --> 00:40:16,920 Speaker 1: almost two hundred thousand deaths. So that may play a 712 00:40:17,000 --> 00:40:20,200 Speaker 1: role in what we're seeing here in COVID as well. Sea. 713 00:40:20,280 --> 00:40:23,719 Speaker 1: I find this, this entire complex issue fascinating, and it's 714 00:40:23,760 --> 00:40:27,440 Speaker 1: only really recently, in the past several years where policymakers 715 00:40:27,520 --> 00:40:30,160 Speaker 1: have really begun to wake up to this. What are 716 00:40:30,400 --> 00:40:33,960 Speaker 1: three things that immediately could shift in Washington, d c. 717 00:40:34,560 --> 00:40:37,680 Speaker 1: That might put a dent in some of the problems 718 00:40:37,719 --> 00:40:41,160 Speaker 1: that you just outlined. Well, I think the Food Fixed 719 00:40:41,160 --> 00:40:44,360 Speaker 1: book really is attempt to define the problem and define 720 00:40:44,400 --> 00:40:47,200 Speaker 1: the solutions. It's called Food Fixed, not Food Apocalypse. And 721 00:40:47,239 --> 00:40:49,800 Speaker 1: the reason is there are great clear actions from policy 722 00:40:49,800 --> 00:40:53,120 Speaker 1: point of view that the government could take to actually 723 00:40:53,200 --> 00:40:56,680 Speaker 1: coordinate and implement a food policy that makes sense, that's coordinated. 724 00:40:57,040 --> 00:40:59,280 Speaker 1: Right now, we have I think nine or ten different 725 00:40:59,280 --> 00:41:02,560 Speaker 1: agencies all all working on different aspects of food policy. Uh, 726 00:41:02,600 --> 00:41:05,440 Speaker 1: they're not coordinated, they're not coherent. For example, the Dietary 727 00:41:05,440 --> 00:41:09,600 Speaker 1: Guidelines tell Americans need healthy and the same agency provides 728 00:41:09,760 --> 00:41:12,560 Speaker 1: snap benefits which are seventy five percent jung food and 729 00:41:12,600 --> 00:41:16,680 Speaker 1: temper sent soda. We have uh, you know, programs that 730 00:41:16,760 --> 00:41:21,799 Speaker 1: actually are fomenting and helping the growth of food products. 731 00:41:22,000 --> 00:41:25,200 Speaker 1: They're not really food, their food products like soy, wheat 732 00:41:25,200 --> 00:41:28,279 Speaker 1: and corn that are turned into process foods the agricultural subsidies. 733 00:41:28,600 --> 00:41:32,560 Speaker 1: So having a coordinating Director of Food policy in America 734 00:41:32,640 --> 00:41:35,120 Speaker 1: would be a major action to take to coordinate and 735 00:41:35,120 --> 00:41:37,759 Speaker 1: integrate all these policies to make them an alignment with 736 00:41:38,040 --> 00:41:40,680 Speaker 1: good health and nutrition. The second, if I were, if 737 00:41:40,680 --> 00:41:43,120 Speaker 1: I were a president, or if I had the authority, 738 00:41:43,200 --> 00:41:46,440 Speaker 1: I would I would create a simple principle of infusing 739 00:41:47,560 --> 00:41:52,080 Speaker 1: the idea of nutritional quality into every single policy. So 740 00:41:52,120 --> 00:41:55,000 Speaker 1: the government, whether it's providing foods for schools or for 741 00:41:55,160 --> 00:41:58,200 Speaker 1: the Department of Fence, or that the dietary guidelines or 742 00:41:58,239 --> 00:42:01,560 Speaker 1: for snap or women intention controller, the FDA regulations or 743 00:42:01,560 --> 00:42:05,800 Speaker 1: food marketing, we can only support those foods and food 744 00:42:05,800 --> 00:42:09,560 Speaker 1: products that actually promote health and that disease. Very simple idea, 745 00:42:09,600 --> 00:42:11,759 Speaker 1: but could be very powerful. And the third pillar I 746 00:42:11,800 --> 00:42:14,640 Speaker 1: think it's really powerful, would be, you know, considering food 747 00:42:14,680 --> 00:42:17,320 Speaker 1: is medicine. Within all of our all of our food policy, 748 00:42:17,320 --> 00:42:20,680 Speaker 1: whether there's Medicare, reimbursement, guysing are put in a study 749 00:42:21,000 --> 00:42:23,640 Speaker 1: where they looked at diabetics who are food and secure. 750 00:42:23,719 --> 00:42:26,720 Speaker 1: We're costing twitter and forty eight thou dollars per patient. 751 00:42:27,040 --> 00:42:29,520 Speaker 1: By giving them twenty dollars of food for a year, 752 00:42:29,520 --> 00:42:32,239 Speaker 1: and this is David Feinberg who's now Google Health. They 753 00:42:32,280 --> 00:42:35,680 Speaker 1: were able to not only improve their diabetes and improve 754 00:42:35,719 --> 00:42:37,360 Speaker 1: their over a health by giving them the food for 755 00:42:37,400 --> 00:42:39,719 Speaker 1: them and their families and some coaching and help in 756 00:42:39,760 --> 00:42:42,600 Speaker 1: the support network they needed, they were able to reduce 757 00:42:42,680 --> 00:42:45,120 Speaker 1: the cost per patient by a hundred and ninety two 758 00:42:45,200 --> 00:42:48,319 Speaker 1: thousand dollars. That's an eight percent cost reduction. And if 759 00:42:48,320 --> 00:42:51,200 Speaker 1: you look at diabetes, it's the number one line item 760 00:42:51,280 --> 00:42:54,919 Speaker 1: in Medicare payments. So this is a simple intervention using 761 00:42:54,920 --> 00:42:57,640 Speaker 1: food is medicine. They can have profound impact and if 762 00:42:57,840 --> 00:43:01,080 Speaker 1: if we apply it across our country, will have tremendous 763 00:43:01,120 --> 00:43:04,560 Speaker 1: reductions in healthcare costs. Dr Markim, I mean, that's really 764 00:43:04,640 --> 00:43:07,600 Speaker 1: one of the key messages that that you talk about 765 00:43:07,880 --> 00:43:11,920 Speaker 1: is looking at food uh as medicine. And when you 766 00:43:12,000 --> 00:43:15,120 Speaker 1: go to the grocery store or you're you know, ordering online, 767 00:43:15,160 --> 00:43:18,040 Speaker 1: your your basket of goods or whatnot, is really thinking 768 00:43:18,080 --> 00:43:20,759 Speaker 1: about whether that's going to contribute not just to your 769 00:43:20,800 --> 00:43:23,279 Speaker 1: physical health, which I think so much of the you know, 770 00:43:23,360 --> 00:43:27,319 Speaker 1: millennial conversation is about appearance, and it's about aesthetics, and 771 00:43:27,360 --> 00:43:29,760 Speaker 1: it's kind of plastic, to be honest, but but really 772 00:43:29,760 --> 00:43:33,040 Speaker 1: about the medicine that you're putting into your body. And 773 00:43:33,040 --> 00:43:35,920 Speaker 1: and and one of the things through through your readings 774 00:43:35,920 --> 00:43:39,719 Speaker 1: that you I think really illustrate is the mental health component. 775 00:43:39,920 --> 00:43:43,000 Speaker 1: And a lot of these chemicals that you know are 776 00:43:43,080 --> 00:43:46,480 Speaker 1: are in that we that we consume, can the science 777 00:43:46,520 --> 00:43:49,080 Speaker 1: is showing have an impact on mental health? Could you 778 00:43:49,120 --> 00:43:51,920 Speaker 1: touch on that? Sure? I mean, there was a macroeconomic 779 00:43:51,960 --> 00:43:54,839 Speaker 1: analysis looking at what were the costs to society gonna 780 00:43:54,880 --> 00:43:57,040 Speaker 1: be over the next thirty five years for chronic disease 781 00:43:57,560 --> 00:44:00,359 Speaker 1: uh and and and and cost both directing into cost 782 00:44:00,400 --> 00:44:04,279 Speaker 1: list of productivity and so forth, was trillion dollars. That's 783 00:44:04,320 --> 00:44:08,520 Speaker 1: almost more than the entire global economy every year. And 784 00:44:08,760 --> 00:44:12,839 Speaker 1: and a large part of that was depression. And we 785 00:44:12,920 --> 00:44:16,960 Speaker 1: know that food and mood are highly correlated and fact now, 786 00:44:17,000 --> 00:44:20,120 Speaker 1: I I'm sort of amazed to see that at Harvard 787 00:44:20,160 --> 00:44:24,400 Speaker 1: there's a Department of Nutritional psychiatry. At Stanford is a 788 00:44:24,440 --> 00:44:28,080 Speaker 1: department of Metabolic psychiatry. We know that food has an 789 00:44:28,160 --> 00:44:32,240 Speaker 1: enormous impact on depression, anxiety, mental health, and nobody's talking 790 00:44:32,280 --> 00:44:35,040 Speaker 1: about it because no one talks about it. No one 791 00:44:35,080 --> 00:44:37,840 Speaker 1: talks about In my book, I described not only the 792 00:44:37,880 --> 00:44:40,840 Speaker 1: studies that proved this is true, but even more shocking 793 00:44:40,840 --> 00:44:46,239 Speaker 1: studies around behavioral changes in violence. For example, we see 794 00:44:46,280 --> 00:44:49,319 Speaker 1: in prisons, by swapping out healthy food for junk food 795 00:44:49,560 --> 00:44:51,880 Speaker 1: in prisons, you can reduce violent crime by over fifty 796 00:44:52,280 --> 00:44:56,160 Speaker 1: And if you had a multi vitamin and juvenile detension centers, 797 00:44:56,160 --> 00:45:00,279 Speaker 1: you can reduce violent behavior and children by SUICI by 798 00:45:01,520 --> 00:45:03,759 Speaker 1: simply by giving these kids healthy food when they're all 799 00:45:03,760 --> 00:45:06,960 Speaker 1: eating junk which is screwing up their brain and making 800 00:45:06,960 --> 00:45:09,160 Speaker 1: their brain is not function well. So we have we 801 00:45:09,200 --> 00:45:11,040 Speaker 1: have a lot of works in this country to improve 802 00:45:11,040 --> 00:45:13,880 Speaker 1: our food system across the board for physical and mental 803 00:45:13,920 --> 00:45:17,920 Speaker 1: health and for our economic health. Is a nation. See this. 804 00:45:18,000 --> 00:45:19,920 Speaker 1: This fires me up because you know you and I 805 00:45:20,120 --> 00:45:24,040 Speaker 1: talked about this offline before, Dr Hyman. But the food marketing, 806 00:45:24,080 --> 00:45:26,120 Speaker 1: I mean, what role does that play, especially in how 807 00:45:26,120 --> 00:45:30,160 Speaker 1: we market food to kids and the regulations because if 808 00:45:30,320 --> 00:45:33,359 Speaker 1: if we're if we're if we're marketing it, you know, 809 00:45:33,760 --> 00:45:36,520 Speaker 1: in a way that is very dishonest, you know, and 810 00:45:36,600 --> 00:45:40,319 Speaker 1: maybe it's good for shareholders, but not good for I 811 00:45:40,320 --> 00:45:44,480 Speaker 1: don't know the future of our country. That's problematic. Yeah, well, 812 00:45:44,480 --> 00:45:46,480 Speaker 1: we have something in this country called the First Amendment 813 00:45:47,920 --> 00:45:51,359 Speaker 1: free speech, which the food companies high behind in order 814 00:45:51,440 --> 00:45:55,759 Speaker 1: to maintain the level of food marketing to uh, to everybody, 815 00:45:55,920 --> 00:45:58,720 Speaker 1: but particularly to children. They spend million billions and billions 816 00:45:58,719 --> 00:46:02,920 Speaker 1: and billions of dollars mark directly to kids, which uh, 817 00:46:03,120 --> 00:46:05,120 Speaker 1: we could argue, you know, they're not quite able to 818 00:46:05,120 --> 00:46:08,440 Speaker 1: distinguish reality from fiction until they're eight years old. And 819 00:46:08,440 --> 00:46:10,600 Speaker 1: they're targeting these children as young as two years old 820 00:46:10,640 --> 00:46:13,640 Speaker 1: or younger. Uh. And the worst products are the ones 821 00:46:13,640 --> 00:46:16,240 Speaker 1: that are most heavily marketed, the highest sugar, the highest 822 00:46:16,239 --> 00:46:19,360 Speaker 1: processed ingredients. Uh. And and the kids are eating it. 823 00:46:19,400 --> 00:46:22,319 Speaker 1: And not even not even just kids, but minorities are 824 00:46:22,320 --> 00:46:26,560 Speaker 1: targeted Preferentially's particularly Hispanic and black youth are targeted and 825 00:46:26,560 --> 00:46:28,839 Speaker 1: see far more ads. Uh. And it's not only just 826 00:46:28,880 --> 00:46:32,600 Speaker 1: the advertising on televisions, stealth advertising. There were five hundred 827 00:46:32,920 --> 00:46:37,520 Speaker 1: billion with a b ads for junk food on on Facebook. 828 00:46:37,840 --> 00:46:39,520 Speaker 1: So I think I think we have to take a 829 00:46:39,560 --> 00:46:41,680 Speaker 1: serious look at at what we're doing in terms of marketing, 830 00:46:41,680 --> 00:46:44,200 Speaker 1: particularly children. I mean, if if a foreign country we're 831 00:46:44,239 --> 00:46:46,360 Speaker 1: doing to our kids what we're doing with the food system, 832 00:46:46,520 --> 00:46:49,440 Speaker 1: we go to war to protect our children. Wow. I 833 00:46:49,440 --> 00:46:51,520 Speaker 1: mean that. That was part one of my conversation with 834 00:46:51,640 --> 00:46:54,080 Speaker 1: Dr Mark Himan, who uh is the author of the 835 00:46:54,080 --> 00:46:57,000 Speaker 1: best many books, but author of the new book Food Fix, 836 00:46:57,080 --> 00:47:00,319 Speaker 1: and it's if you're looking for It's not just health 837 00:47:00,320 --> 00:47:03,720 Speaker 1: and wellness and eating healthy. It also is about how 838 00:47:04,320 --> 00:47:06,759 Speaker 1: if you look at through medicine, you can actually save 839 00:47:06,760 --> 00:47:08,759 Speaker 1: a lot of money. Part two of my conversation coming 840 00:47:08,800 --> 00:47:11,480 Speaker 1: up with him on Monday, plus an exclusive interview with 841 00:47:11,520 --> 00:47:15,239 Speaker 1: Samantha Power, former UN Ambassador in the Obama administration. I'm 842 00:47:15,320 --> 00:47:20,080 Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and for 843 00:47:20,200 --> 00:47:23,759 Speaker 1: Bloomberg Radio, and we've got some breaking news that I 844 00:47:23,800 --> 00:47:27,920 Speaker 1: just want to catch everybody up to speed on. Democrats 845 00:47:27,920 --> 00:47:32,319 Speaker 1: Republicans reach a deal on stop gap to avert the 846 00:47:32,400 --> 00:47:36,719 Speaker 1: October one shutdown. My colleague Eric Wasson reporting on the 847 00:47:36,719 --> 00:47:40,080 Speaker 1: Bloomberg Terminal that the White House and Democrats have reached 848 00:47:40,080 --> 00:47:43,920 Speaker 1: a bipartisan deal in principle on a short term spending bill. 849 00:47:44,040 --> 00:47:47,239 Speaker 1: Democratic and Republican aids say the House is expected to 850 00:47:47,360 --> 00:47:52,279 Speaker 1: vote on the measure next week and they will keep 851 00:47:52,320 --> 00:47:57,759 Speaker 1: the government open through December eleven. Much more coming up 852 00:47:57,760 --> 00:48:01,399 Speaker 1: next plus what's on the panels? Ray are I'll give 853 00:48:01,400 --> 00:48:04,719 Speaker 1: you a hit. TikTok's on my radar. TikTok is all 854 00:48:04,719 --> 00:48:14,400 Speaker 1: my radar. You're listening to Bloomberg. You're listening to Bloomberg. 855 00:48:14,520 --> 00:48:18,600 Speaker 1: Sound on with Kevin Shirley on Bloomberg And one oh 856 00:48:18,680 --> 00:48:21,880 Speaker 1: five point seven f M h D two. Is that 857 00:48:22,000 --> 00:48:26,880 Speaker 1: the Irish embassy today or the Irish ambassador's residents them, mohall, 858 00:48:27,680 --> 00:48:32,600 Speaker 1: he's gonna be on the program next week. Barata or 859 00:48:32,800 --> 00:48:38,000 Speaker 1: executive producer Christine Barrata friendly reminded, we're gonna play that. 860 00:48:38,040 --> 00:48:41,640 Speaker 1: We're gonna play that ambassador ma Hall tape um next week. 861 00:48:41,719 --> 00:48:44,680 Speaker 1: And I asked him, I got I love talking to 862 00:48:44,680 --> 00:48:47,160 Speaker 1: the Irish, right, you know, they like they've got they 863 00:48:47,239 --> 00:48:50,040 Speaker 1: got eagles green everywhere you go, go, Eagles this weekend, Right, 864 00:48:50,080 --> 00:48:54,040 Speaker 1: we don't like the Rams. And and I said to 865 00:48:54,120 --> 00:48:57,560 Speaker 1: him the last question, I said, Mr Ambassador, I said, 866 00:48:57,560 --> 00:48:59,759 Speaker 1: what's it been like? You know, you go from I 867 00:49:00,400 --> 00:49:04,000 Speaker 1: forty shades of Green said, living in d C and 868 00:49:04,080 --> 00:49:08,759 Speaker 1: this very fancy, fancy residence. Um, and but what's it like? 869 00:49:08,880 --> 00:49:11,360 Speaker 1: You know, it's been a weird summer, to put it mildly, 870 00:49:11,840 --> 00:49:15,399 Speaker 1: as we've all navigated through COVID nineteen. And he goes, 871 00:49:15,480 --> 00:49:18,920 Speaker 1: and he gave me one word and listened Ambassador Mo Hall. 872 00:49:19,360 --> 00:49:21,680 Speaker 1: He's not He's got a lot of words, right, I 873 00:49:21,760 --> 00:49:23,799 Speaker 1: have listened to a radio show of Ambassador ma Hall. 874 00:49:23,840 --> 00:49:26,000 Speaker 1: From being honest, actually, I mean he's he could talk. 875 00:49:26,080 --> 00:49:28,360 Speaker 1: He's someone who could talk. And I appreciate that. I 876 00:49:28,440 --> 00:49:31,080 Speaker 1: respect that as someone who also my mother said as 877 00:49:31,120 --> 00:49:34,120 Speaker 1: a child, I talked too much. So and by the way, 878 00:49:34,120 --> 00:49:38,880 Speaker 1: my mom's Irish and my late grandmother, Mimi is a Irish. 879 00:49:38,880 --> 00:49:42,040 Speaker 1: You would have smiled today. But but anyway, he goes. 880 00:49:42,280 --> 00:49:44,839 Speaker 1: I said, so, what's it been like living here in 881 00:49:44,840 --> 00:49:47,720 Speaker 1: in in Washington, t C. The past couple of months 882 00:49:47,760 --> 00:49:51,919 Speaker 1: during COVID. He goes, strange. That was the only word 883 00:49:51,960 --> 00:49:55,600 Speaker 1: he gave me. Strange. I thought, if there's one word 884 00:49:56,040 --> 00:50:01,960 Speaker 1: to describe two thousand and twenty that everybody can agree on, folks, strange. 885 00:50:02,120 --> 00:50:04,840 Speaker 1: All right, it's time now for my strangest part of 886 00:50:04,840 --> 00:50:09,520 Speaker 1: the program. What is on your radar? And joining me 887 00:50:09,560 --> 00:50:11,520 Speaker 1: are two folks who have a lot of things on 888 00:50:11,560 --> 00:50:13,840 Speaker 1: the radar. Brenda Buck, partner at seven Letter and former 889 00:50:13,840 --> 00:50:17,160 Speaker 1: spokesman and advisor to how Speaker Paul Ryan at former 890 00:50:17,200 --> 00:50:20,520 Speaker 1: Alaska Senator Mark Beggett. She is a strategic consulting advisor 891 00:50:20,560 --> 00:50:24,120 Speaker 1: at Brownstein, Hyatt Farber and Shrek. What's what's on your radar? 892 00:50:24,880 --> 00:50:28,840 Speaker 1: Senator Bega? And is it strange? Uh? It is strange. 893 00:50:28,880 --> 00:50:34,240 Speaker 1: So I just sent my son to college this morning. 894 00:50:34,440 --> 00:50:37,920 Speaker 1: Congratulation college, thank you. Well, it just means like a 895 00:50:37,920 --> 00:50:43,359 Speaker 1: lot of debt. So I'm excited for him. And he's 896 00:50:43,400 --> 00:50:48,200 Speaker 1: going to d C there in that region. But the challenges, um, 897 00:50:48,280 --> 00:50:50,680 Speaker 1: he's going to a school that is not doing in 898 00:50:50,800 --> 00:50:54,960 Speaker 1: person um classes. So he just wants to be close 899 00:50:55,080 --> 00:50:57,640 Speaker 1: enough that he feels like these experiences. So that is 900 00:50:58,040 --> 00:51:01,600 Speaker 1: on my mind, strange on personal level. On a broader sweep, 901 00:51:02,440 --> 00:51:05,799 Speaker 1: you know, I just want these elections over so we 902 00:51:05,800 --> 00:51:13,200 Speaker 1: can get on with getting this country moving some directions. Well, 903 00:51:13,239 --> 00:51:16,880 Speaker 1: I'm trying to be if you know, for you it's evening, 904 00:51:16,960 --> 00:51:19,480 Speaker 1: for me, it's midday, So you know, maybe if we 905 00:51:19,480 --> 00:51:22,200 Speaker 1: were doing a late night show, I might say something different. 906 00:51:22,760 --> 00:51:27,239 Speaker 1: But I think I get past all this and get 907 00:51:27,280 --> 00:51:31,200 Speaker 1: on with what people care most about, getting our country 908 00:51:31,200 --> 00:51:36,480 Speaker 1: moving and not in this political Yeah, it's uh, you know, 909 00:51:36,560 --> 00:51:39,880 Speaker 1: I think I think that's disappointing from non perspective. I 910 00:51:39,920 --> 00:51:42,640 Speaker 1: think that's a non partisan statement. I think I think 911 00:51:42,719 --> 00:51:45,839 Speaker 1: everyone can can agree on that. Brandon Buck what's on 912 00:51:45,880 --> 00:51:50,120 Speaker 1: your radar? Uh, Something I'm keeping an eye on is 913 00:51:51,360 --> 00:51:55,120 Speaker 1: down in Kentucky. The Attorney general down there. It's reported 914 00:51:55,160 --> 00:51:58,799 Speaker 1: that he is expected to make a decision soon in 915 00:51:58,840 --> 00:52:03,719 Speaker 1: the Brianna Taylor case. Obviously, that is the issue of 916 00:52:04,560 --> 00:52:08,720 Speaker 1: racial justice and police brutality was something that was so 917 00:52:08,719 --> 00:52:11,120 Speaker 1: so defined this summer, and it's sort of receded a 918 00:52:11,160 --> 00:52:15,440 Speaker 1: bit from our sort of national conversation. I expect whenever 919 00:52:15,480 --> 00:52:19,000 Speaker 1: that uh decision comes down, whether there's charges or not, 920 00:52:19,120 --> 00:52:21,120 Speaker 1: I imagine that is going to bring that back to 921 00:52:21,160 --> 00:52:25,120 Speaker 1: the forefront. Obviously important on its own right, and certainly 922 00:52:25,160 --> 00:52:31,440 Speaker 1: I expect would have implications politically. Obviously, Um, the racial 923 00:52:31,480 --> 00:52:34,280 Speaker 1: justice issue was one that the President I think struggled 924 00:52:34,320 --> 00:52:36,960 Speaker 1: with a bit. And then of course I think anybody 925 00:52:36,960 --> 00:52:40,240 Speaker 1: would expect that there's probably going to be protesting again 926 00:52:40,360 --> 00:52:43,000 Speaker 1: and those types of things that obviously had a lot 927 00:52:43,040 --> 00:52:45,759 Speaker 1: of impact on politics here. So we'll see if it's 928 00:52:45,800 --> 00:52:47,960 Speaker 1: next week that's what people are reporting. Um, I think 929 00:52:47,960 --> 00:52:50,120 Speaker 1: that will be really interesting to see what happens. Yeah, 930 00:52:50,239 --> 00:52:53,879 Speaker 1: definitely a thousand percent and and and something that will 931 00:52:54,160 --> 00:52:57,919 Speaker 1: be following closely. What's on my radar is US China 932 00:52:58,000 --> 00:53:04,160 Speaker 1: relations Surprise Surprise, UH TikTok, which the President says actually 933 00:53:04,840 --> 00:53:07,960 Speaker 1: might be banned from getting updates on the TikTok app 934 00:53:08,719 --> 00:53:15,240 Speaker 1: come Monday. Come Monday, and this is citing national security 935 00:53:15,400 --> 00:53:18,720 Speaker 1: concerns that that that that he's had. The US moved 936 00:53:18,719 --> 00:53:21,960 Speaker 1: to expel the Chinese zoned we Chat and TikTok apps 937 00:53:21,960 --> 00:53:26,000 Speaker 1: from US app stores as of Sunday, while reserving the 938 00:53:26,080 --> 00:53:29,640 Speaker 1: right to reverse a ban on TikTok's video streaming service 939 00:53:29,680 --> 00:53:32,960 Speaker 1: once it can hammer out a deal to satisfy national 940 00:53:33,040 --> 00:53:37,040 Speaker 1: security concerns. Commerce Secretary Wilbur Ross. He says that the 941 00:53:37,120 --> 00:53:41,320 Speaker 1: US is gonna prohibit cash transfers within the United States 942 00:53:41,320 --> 00:53:44,720 Speaker 1: related to we Chat and its parent company, Tensent Holdings Ltd. 943 00:53:45,200 --> 00:53:48,520 Speaker 1: Other measures are going to prohibit as of Monday, to 944 00:53:48,680 --> 00:53:52,240 Speaker 1: include distribution, maintenance, and updates of w Chat or TikTok 945 00:53:52,360 --> 00:53:56,120 Speaker 1: through the app stores in the United States. It doesn't extend. 946 00:53:56,160 --> 00:54:00,879 Speaker 1: This is important. The order doesn't extend overseas, which had 947 00:54:00,920 --> 00:54:04,799 Speaker 1: been candidly a concern for some of the companies. I mean, look, 948 00:54:05,120 --> 00:54:09,600 Speaker 1: the reason they're doing this is because Asciphius and whether 949 00:54:09,760 --> 00:54:12,120 Speaker 1: or not the US is going to have a majority 950 00:54:12,120 --> 00:54:16,759 Speaker 1: stake in the finalized deal, which now the President is 951 00:54:16,760 --> 00:54:19,200 Speaker 1: saying should come November twelve. It just goes to show 952 00:54:19,280 --> 00:54:22,839 Speaker 1: that come November twelve, that's after the election. Um, so 953 00:54:22,920 --> 00:54:25,640 Speaker 1: you've got that he's he's kind of bottomed bought the 954 00:54:25,719 --> 00:54:30,040 Speaker 1: United States and wiggle room there. But but fascinating. I mean, 955 00:54:30,040 --> 00:54:31,799 Speaker 1: if you look at the tech, Cold War and and 956 00:54:31,960 --> 00:54:34,640 Speaker 1: you know, intellectual property and whatnot, it's I say it 957 00:54:34,760 --> 00:54:36,720 Speaker 1: every day. It really is a non part of an issue. 958 00:54:36,800 --> 00:54:40,719 Speaker 1: Kamala Harris, Vice presidential Democratic nominee Kamala Harris was one 959 00:54:40,760 --> 00:54:42,680 Speaker 1: of the co sponsors and one of the most aggressive 960 00:54:42,840 --> 00:54:46,640 Speaker 1: intellectual property pieces of legislation that was introduced uh in 961 00:54:46,640 --> 00:54:48,919 Speaker 1: in last Congress. So it really is a non part 962 00:54:48,960 --> 00:54:51,880 Speaker 1: of an issue. So we're following that obviously, Oracle, Walmart, 963 00:54:52,640 --> 00:54:56,880 Speaker 1: TikTok ten cent, and Bye Dance as well, uh, I 964 00:54:56,920 --> 00:54:59,400 Speaker 1: want to. So that's that's the the segment on your radar. 965 00:54:59,719 --> 00:55:03,080 Speaker 1: I gonna ask one more question to each of you, 966 00:55:03,560 --> 00:55:08,360 Speaker 1: which is played the long Game, Mark Begette. Regardless of 967 00:55:08,400 --> 00:55:12,560 Speaker 1: the presidential outcome, the Democratic Party is having an open 968 00:55:12,640 --> 00:55:21,360 Speaker 1: debate about about the about the future of the party. 969 00:55:21,400 --> 00:55:23,080 Speaker 1: Do you think that's going to come to the forefront 970 00:55:23,120 --> 00:55:27,280 Speaker 1: next Congress. I think that Democratic Party has this debate 971 00:55:27,400 --> 00:55:32,000 Speaker 1: all the time because of Democratic Party now saying that. Um, 972 00:55:32,040 --> 00:55:34,960 Speaker 1: I think it is a pride, big challenge in something 973 00:55:35,000 --> 00:55:37,879 Speaker 1: that Democrats are going to have to figure out who 974 00:55:37,880 --> 00:55:40,880 Speaker 1: are they? What are they? And you know there's some 975 00:55:41,480 --> 00:55:44,600 Speaker 1: that believe I'm a much more moderate Democrats think that 976 00:55:44,640 --> 00:55:48,920 Speaker 1: it's going way too far left. And that's a great debate, 977 00:55:49,120 --> 00:55:51,400 Speaker 1: and you know, I don't know if it ever will 978 00:55:51,640 --> 00:55:56,000 Speaker 1: get solved because if you say X, like I disagreed 979 00:55:56,120 --> 00:55:58,920 Speaker 1: with the d m C when they said, you know, 980 00:55:59,000 --> 00:56:02,680 Speaker 1: we can't take candidate, shouldn't take's not make contributions for 981 00:56:02,800 --> 00:56:05,399 Speaker 1: all aastry, Well, I disagree with that. You know, that's 982 00:56:05,400 --> 00:56:07,839 Speaker 1: just a bunch of bunk. But I think it's gonna 983 00:56:07,840 --> 00:56:10,880 Speaker 1: be great debate and I think depending on what happens 984 00:56:10,880 --> 00:56:13,320 Speaker 1: in the elections. It could push you know, a little 985 00:56:13,320 --> 00:56:17,280 Speaker 1: more to laugh more than it should in my opinion. Yeah, alright, 986 00:56:17,400 --> 00:56:21,279 Speaker 1: and did offer you for the Republicans Brendan Buck and like, yeah, 987 00:56:21,280 --> 00:56:24,000 Speaker 1: I think our internal debate is going to be a long, 988 00:56:24,760 --> 00:56:27,920 Speaker 1: long road. I think no matter what happens in this election, 989 00:56:27,960 --> 00:56:30,760 Speaker 1: I think the Trump wing of it, and and actually 990 00:56:30,760 --> 00:56:34,680 Speaker 1: President Trump himself, UM, is going to hover over our 991 00:56:34,719 --> 00:56:36,319 Speaker 1: party for a long time. I know there's a lot 992 00:56:36,360 --> 00:56:39,799 Speaker 1: of people talking about the rebuild after him, or the 993 00:56:39,840 --> 00:56:42,200 Speaker 1: pivot or what the party looks like. I still think 994 00:56:42,239 --> 00:56:45,880 Speaker 1: that he has such a firm hold over our voters 995 00:56:46,480 --> 00:56:48,360 Speaker 1: that he's going to be the defining voice for a 996 00:56:48,360 --> 00:56:50,799 Speaker 1: long time. UM. I think if he loses, there's a 997 00:56:50,800 --> 00:56:53,480 Speaker 1: decent chance he flirts with running again. UM. So I 998 00:56:53,480 --> 00:56:55,920 Speaker 1: don't think the Trump years are over anytime soon. All right, 999 00:56:56,520 --> 00:56:58,759 Speaker 1: Well said by both of you. I couldn't you know. 1000 00:56:58,800 --> 00:57:00,600 Speaker 1: I think that's that's why I love this shows. I 1001 00:57:00,640 --> 00:57:03,920 Speaker 1: always feel like I learned something and Brendan Buck partner 1002 00:57:03,920 --> 00:57:06,600 Speaker 1: at seven Letter, former spokesman and advisor to House Speaker 1003 00:57:06,600 --> 00:57:09,160 Speaker 1: Paul Ryan. Hey, Brendon, thank you so much for for 1004 00:57:09,239 --> 00:57:12,120 Speaker 1: spending the hour with us. In Former Alaska Senator Mark Beggett, 1005 00:57:12,239 --> 00:57:15,960 Speaker 1: New College Dad Mark Beggett, strategic consulting advisor at Brownsteing, 1006 00:57:16,040 --> 00:57:19,400 Speaker 1: Hyatt Farber in Shrek, thank you too, sir for your time. 1007 00:57:19,480 --> 00:57:21,720 Speaker 1: That does it for me. Hey, have a great weekend. 1008 00:57:22,040 --> 00:57:23,880 Speaker 1: Have a great weekend, and I'll see the same time, 1009 00:57:23,920 --> 00:57:27,080 Speaker 1: same place on Monday. I'm Kevin Severally, Chief Washington correspondent 1010 00:57:27,120 --> 00:57:29,960 Speaker 1: for Bloomberg Television and Radio. Samantha Power joins me on Monday. 1011 00:57:30,000 --> 00:57:32,120 Speaker 1: If you're listening to Bloomberg one