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Speaker 1: Live from Our Nation's how do we reopen this economy?

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

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

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Speaker 1: Bloomberg Sound On, the Insiders, the influencers, the insides. We're

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

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Speaker 1: never before. You're looking at seventy Kennedys for different vectories.

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

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

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Speaker 1: Surrelate on Bloomberg and one oh five f h D two.

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Speaker 1: President Trump signs an executive order on police reform. We

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Speaker 1: check in with House Majority with James Cliburne for the

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Speaker 1: Democratic response, and FED Chair j Powell sounding the alarm

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Speaker 1: bells of a slow Nike Swoosh recovery? Why do Republicans disagree?

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Speaker 1: All of that? Plus we head for geopolitics, new tensions

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Speaker 1: rising between India and China. A jam packed day of news. First,

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Speaker 1: let's get a check of the headlines from my good

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Speaker 1: friend Nancy Llions nets. President Trump is taking action on

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Speaker 1: police reform, signing an executive order in the Rose Garden

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Speaker 1: today that calls for better training on the use of force.

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Speaker 1: He says choke holds will be banned nationwide except when

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Speaker 1: the officer's life is at risk. We're looking at new

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Speaker 1: advanced and powerful, less lethal weapons to help prevent deadly interactions.

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Speaker 1: Some strongly denounced efforts though, to defund police departments, saying

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Speaker 1: that would be chaos. Senior Administration official state departments that

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Speaker 1: implement reforms will be rewarded with federal grants. Researchers in

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Speaker 1: England say they have the first evidence of drug can

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Speaker 1: improve survival from COVID nineteen as steroid called dexametha zone

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Speaker 1: reduced deaths up to one third in severely ill hospitalized patients.

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Speaker 1: The study was led by the University of Oxford, involved

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Speaker 1: thousands of patients randomly assign ring to get the drug

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Speaker 1: or a placebo. Dex a metha zone reduced deaths by

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Speaker 1: thirty percent, and patients who needed treatment with breathing machines

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Speaker 1: by and those who needed supplemental oxygen. It showed very

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Speaker 1: little effect, however, on less ill patients. The d C

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Speaker 1: statehood movement has reached a watershed moment. The Democrat led

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Speaker 1: House will vote on a bill making the district the

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Speaker 1: fifty first state. Democrats are trying to capitalize on the

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Speaker 1: uproar caused by the Trump administration's heavy handed treatment of

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Speaker 1: street protests near the White House. House leaders held the

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Speaker 1: news conference with Mayor Muriel Bowser, who explained why the

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Speaker 1: district should be made a state. There shouldn't be troops

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Speaker 1: from other states in Washington, d C. There shouldn't be

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Speaker 1: federal forces advancing against Americans. House Majority leaders Stenny Hoyer

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Speaker 1: opposed DC statehood until last year, but now he's scheduling

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Speaker 1: a vote in the House on June. The statehood movement

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Speaker 1: has no Republican support in the Senate, Martin DeCaro Bloomberg

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Speaker 1: and one of five point seven h D two. Virginia

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Speaker 1: Governor Ralph Northam says state executive branch workers will now

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Speaker 1: observe June nineteenth or Juneteenth, as a state holiday beginning

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Speaker 1: this Friday. Juneteenth is the day that's been celebrated as

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Speaker 1: the end of slavery in the US. We are changing

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Speaker 1: what we honor in Virginia. Northam says it's time to

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Speaker 1: start the process of reparations in a state that was

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Speaker 1: once home to the capital of the Confederacy. Singer for

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Speaker 1: l Williams and native of the state, was on hand

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Speaker 1: for today's announcement. He applauded the move and the movement

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Speaker 1: he's seen over the past few weeks. This new generation

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Speaker 1: is speaking up and staring down. They are staring down

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Speaker 1: systemic racism with so much bravery, and it's super inspiring.

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Speaker 1: Juneteenth will now be a paid holiday for as I

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Speaker 1: said executive branch employees. Northam is moving to make it

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Speaker 1: a paid state holiday for all employees in the state.

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Speaker 1: And the city of Richmond is in need of a

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Speaker 1: new police chief. Today, Mayor LaVar Stoney requested and accepted

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Speaker 1: the resignation of police Chief Williams Smith after two nights

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Speaker 1: of tents demonstrations. Officers used chemical gas, flash bangs, and

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Speaker 1: rubber bullets on the crowd. Stoney says the city needs

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Speaker 1: a new approach to public safety. It's time now for

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Speaker 1: the Beltway Business Report. Here is Bloomberg's Tracy john Kie Fancy.

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Speaker 1: A record retail sales rebound in May did all lots

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Speaker 1: for investor confidence. Today the Dow of five hundred twenty

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Speaker 1: seven points at twenty six thousands to ninety. The NASDAC

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Speaker 1: up a hundred seventy points at the SMBs up fifty

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Speaker 1: eight points. We have never seen anything like the seventeen

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Speaker 1: point seven percent and jump and may retail sales Every

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Speaker 1: type of retailer improved on April's numbers, according to the

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Speaker 1: Commerce Department. A T and T says one thing it

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Speaker 1: has learned from lockdowns is it doesn't need as many stores.

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Speaker 1: Two hundred fifties stores will be closed as part of

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Speaker 1: a T and t s six billion dollar cost cutting plan.

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Speaker 1: A T and t s main employee union says the

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Speaker 1: company is cutting nearly five thousand jobs, litting more than

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Speaker 1: a thousand in retail, and Tech Crunch says T Mobile

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Speaker 1: is eliminating hundreds of jobs at Sprint, the two mobile

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Speaker 1: carriers merged in April. McLean based Hilton Worldwide is laying

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Speaker 1: off more than two thousand corporate employees while it waits

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Speaker 1: for the hospitality industry to bounce back, and it is

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Speaker 1: extending for a loads and pay cuts for the rest

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Speaker 1: of its corporate workforce for as many as ninety days.

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Speaker 1: You have to date on business from the belt Way

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Speaker 1: to Baltimore. I'm Tracy john Ky. This is Bloomberg and

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Speaker 1: one oh five point seven f M HD two. Thanks Tracy.

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Quick Take by Bloomberg, powered by more than twenty

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Speaker 1: seven hundred journalists and analyst and more than one hundred

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Speaker 1: and twenty countries. I'm Nancy Lions. Back to you, Kevin. Thanks.

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Speaker 1: NAT's My name is Kevin Curreli on the chief Washington

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Speaker 1: correspondent for Bloomberg Television and for Bloomberg Radio. Let's start

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Speaker 1: with some optimism? Should we start with some optimism? Stocks

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Speaker 1: rose for a third day as optimism over a recovering

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Speaker 1: US economy overwrote any concerns of the coronavirus cases are

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Speaker 1: worsening in locations ranging from Texas to China. The SMB

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Speaker 1: five hundred climbed one nine, with energy, healthcare, and Materials

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Speaker 1: leading all eleven industry sectors higher in the biggest gain

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Speaker 1: in more than a week. That's according to my colleagues

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Speaker 1: reporting on the Bloomberg terminal. James Holmans on the line. He,

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Speaker 1: of course, is a reporter for the Washington Posts and

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Speaker 1: the author of the all important policy based newsletter The

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Speaker 1: Daily to Oh two. James, you don't there's optimism on

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Speaker 1: Wall Street, but fed share J. Powell. He testified before

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Speaker 1: State Banking and he wasn't so optimistic. Yeah, Kevin, And

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Speaker 1: there is still kind of a feeling that may will

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Speaker 1: eventually need to be done. Obviously optimism. I think you're

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Speaker 1: exactly right the workford right now, but there's also kind

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Speaker 1: of some anxiety and nervousness about um about some of

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Speaker 1: these wingering reports and the numbers that are coming in

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Speaker 1: and and you know, how much can we kind of

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Speaker 1: power through this and how much more help are we

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Speaker 1: going to need? Yeah? You know, and it is it

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Speaker 1: is really fascinating because FED Chair J. Powell. Uh he

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Speaker 1: he said earlier today via video conference before the Senate

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Speaker 1: Banking Committee, quote, we would expect to see large numbers

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Speaker 1: of people during this period coming back to work, during

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Speaker 1: this second period, call it the bounce back or the

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Speaker 1: beginning of a recovery. Then we think, and I think most,

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Speaker 1: if not all forecasters think that will leave us well

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Speaker 1: short of where we were in February. What he's saying,

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Speaker 1: fed share J. Palell not to translate, but you know

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Speaker 1: what he's saying, is it that the v the people

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Speaker 1: had hoped for, economists are now saying could be starting

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Speaker 1: out as a V recovery of a dramatic decline in

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Speaker 1: jobs followed by a dramatic uh comeback of jobs. And

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Speaker 1: that V that's where you get that V into a

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Speaker 1: you or even a swoosh type of figure um. And

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Speaker 1: so that's really a delayed, prolonged recovery. How does that

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Speaker 1: a prolonged recovery? How does that impact the politics not

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Speaker 1: just at the presidential level, James Holman, but in the Senate,

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Speaker 1: in the House for election, it's very much inplinted and

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Speaker 1: and you know, we saw the weetend that shows Theator

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Speaker 1: is down, and it's because people are hurting. People are

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Speaker 1: gonna blame incumbents. There's another people are more unhappy than

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Speaker 1: they've been in decades. There was a pool from Gallup

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Speaker 1: yesterday they showed people are less proud to be Americans

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Speaker 1: than they've been uh in the whole time gallops ever

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Speaker 1: asked that question. And so there's this feeling that the

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Speaker 1: countries on the wrong track, and the more that you

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Speaker 1: know are pulling shows that a lot of people who

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Speaker 1: think that they're going to get their jobs back and

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Speaker 1: are confident that their jobs are going to come back,

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Speaker 1: probably aren't going to see their jobs come back right away,

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Speaker 1: and so that becomes a political headache in the in

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Speaker 1: the coming months. And it's important for incumbents at either party,

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Speaker 1: but especially Republicans because they're defending their Senate majority in

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Speaker 1: the White House, to convey that they still care about

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Speaker 1: those people. And obviously, you know that you have the

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Speaker 1: uneployment benefits expiring in July, that the federal extension, and

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Speaker 1: so there would be a lot of politics played around that.

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Speaker 1: And uh in both parties are going to have to

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Speaker 1: kind of convey to these voters in states for their

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Speaker 1: competitive races, and that's places like North Carolina and Colorado,

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Speaker 1: Maine or an even uh Montana where Democrats can pick

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Speaker 1: up seats and they're gonna have to Republicans are gonna

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Speaker 1: have to show they even if they don't want to

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Speaker 1: do another massive stimulus, that they still are trying to

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Speaker 1: do something for these people. You know, James Summons on

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Speaker 1: the line. He's a reporter for the Washington Post, author

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Speaker 1: of the Daily two oh two, and he's talking about

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Speaker 1: the shock factor. That's what economists are calling this the

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Speaker 1: shock factor, folks about job losses due to reallocation. Shock

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Speaker 1: that won't be quickly able to be recouped. And so

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Speaker 1: it is really really unfortunate because the way the policymakers

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Speaker 1: presented this was a fifteen day UH hiatus, so to speak,

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Speaker 1: to to to flatten the curve, and now it's turning

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Speaker 1: into a much longer type of a recovery. From a

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Speaker 1: policy standpoint, James Holman, that would And I'm I'm sure

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Speaker 1: I'm curious if you're hearing this, because in the conversations

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Speaker 1: that I've had UH and reporting that I've done here

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Speaker 1: in the Beltway, many think tanks on both sides of

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Speaker 1: the aisle are trying to figure out precisely what you

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Speaker 1: just raised. How do we communicate two the how do

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Speaker 1: we communicate to those folks who, quite frankly, their jobs

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Speaker 1: might not be coming back right? And and it becomes

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Speaker 1: from a policy standpoint, it becomes arguments about insurance, arguments

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Speaker 1: about unemployment insurance. How do you back that up? How

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Speaker 1: do you how do you provide unemployment benefits for folks

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Speaker 1: in the gig economy and the like? No, yeah, and

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Speaker 1: that's and and how do you I mean, there is

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Speaker 1: a lot of trepidation now on the right among you know,

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Speaker 1: my folks, I talk to you on the Hill, who

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Speaker 1: don't want to spend another trillion dollars or two trillion dollars,

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Speaker 1: you know, who feel like the kind of stomach turning

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Speaker 1: when they start to realize within the cares that they've

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Speaker 1: run in for. And you're gonna start to see more

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Speaker 1: and more stories about waste, fraud and abuse, and people

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Speaker 1: getting loans who shouldn't have gotten loans, and people taking

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Speaker 1: advantage of the system. And so that's going to create

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Speaker 1: a lot of pressure on the right not to do

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Speaker 1: another massive package. But at the same time, again to

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Speaker 1: show these independents are sort of moving away, uh from

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Speaker 1: Republicans in the polls right now, and and we'll probably

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Speaker 1: come home if these Republican senators can convince them that

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Speaker 1: they actually are fighting for them. And so I think

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Speaker 1: it's it's politically imperative not to get bogged down in

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Speaker 1: our cane debates, but to show that, you know, there's

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Speaker 1: the hair, to show some empathy and not just empathy.

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Speaker 1: I think that the but I have to just jump

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Speaker 1: in here because it's not just empathy, it's not just

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Speaker 1: that authenticity. I agree with you a thousand percent, and James,

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Speaker 1: you and I we are you know, very we can

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Speaker 1: walk out on this and be nerds because but from

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Speaker 1: policy standpoint, there has to be a conversation about, Okay,

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Speaker 1: if these jobs aren't going to come back for a year,

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Speaker 1: what are you gonna do for the millions of people

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Speaker 1: who are out of work to train them to so

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Speaker 1: that they can relocate into another sector. And that's the

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Speaker 1: smart policy conversation that uh that you know, I think

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Speaker 1: Republicans and Democrats need to start having because it's it's

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Speaker 1: it's less even about you know, just speaking, Oh, we

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Speaker 1: we feel so badly for you, And it's more this

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Speaker 1: economy is going to be rebuilt, but we need to

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Speaker 1: make sure the workforce is rebuilt for it. Because here's

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Speaker 1: the reality and this you know, we started with optimism,

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Speaker 1: but now we'll give a dose of reality. Fed Chair

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Speaker 1: j Powell, testifying before the Senate Banking Committee earlier today,

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Speaker 1: said quote, if not contained and reversed, the downturn could

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Speaker 1: further widen caps and economic well being, that the long

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Speaker 1: expansion had made some progress in closing end quote, meaning

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Speaker 1: this income inequality could only get worse if this recovery

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Speaker 1: is only beneficial for some, right, James, and you're gonna

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Speaker 1: you're going to see a lot of show votes on

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Speaker 1: capital health because we have divided government. So you'll see

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Speaker 1: House Democrats passing measures you know that are that are

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Speaker 1: kind of very generous that they know aren't going to

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Speaker 1: pass related to unemployment insurance in the like. And then

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Speaker 1: you're gonna see, you know, the President wants to have

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Speaker 1: capital gains tax holidays and and do various things that, uh,

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Speaker 1: you know, we wouldn't necessarily help with inequality. And so

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Speaker 1: you're gonna have the Senate passing its own package and

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Speaker 1: the House passing its package, and they'll both be trying

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Speaker 1: to convey that they're doing something. The question is whether

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Speaker 1: they'll be able to get pass that and actually get

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Speaker 1: something done. And frankly, if we're being realistic, I'm not

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Speaker 1: sure that that. Right now, they're pressure to bring the

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Speaker 1: two sides together. James Helman of The Daily two two

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Speaker 1: and The Washington Post More. Next, I'm Kevin Sireli. This

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Speaker 1: is Bloomberg. You're listening to Bloomberg Sound On with Kevin

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Speaker 1: Surrelei on Bloomberg and one of five point seven f

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Speaker 1: M h D two. Kevin Sireli, chief Washington correspondent for

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Speaker 1: Bloomberg Television and for Bloomberg Radio breaking news, breaking news headline,

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Speaker 1: crossing the Bloomberg terminal right now. The body campaign is

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Speaker 1: called President Trump's executive order insufficient, insufficient on policing reform.

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Speaker 1: President Trump earlier today having announced a policing reform executive order,

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Speaker 1: and essentially what he has said well in his words,

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Speaker 1: reducing crime, that laid bare the balance the Trump Uh.

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Speaker 1: He's essentially calling for more, for more law and order,

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Speaker 1: and and and for there to be more education vouchers

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Speaker 1: for individuals in order for folks to decide where they

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Speaker 1: go to school. I caught up with the House Majority

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Speaker 1: Whip James Clyburn earlier today on Bloomberg Television. I asked

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Speaker 1: him if it was sufficient. Take a listen to what

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Speaker 1: he said. Let me get your reaction to the President's

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Speaker 1: signing of that executive order. Do you think it will

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Speaker 1: make a difference and an impact on this country? Don't

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Speaker 1: think so. Thank you so much for having me. I

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Speaker 1: do believe that President's intentions, uh may be well found,

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Speaker 1: but I don't think they go quite far enough. The

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Speaker 1: fact of the matter is, he says in the language,

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Speaker 1: this is to incentivize UH police departmental police officials to

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Speaker 1: do right. I do believe we have to fight off

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Speaker 1: the institution that's constructed, the culture that's there, and so

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Speaker 1: there are a lot of things we've got to do.

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Speaker 1: We've got the de militarized policing in this country. For

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Speaker 1: some reason, we are now uh turning over armaments, armed

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Speaker 1: vehicles to local police departments. They've gotten no use for that.

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Speaker 1: It only enhances this culture that's eating the way at

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Speaker 1: policing in this country. We've got to do something about

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Speaker 1: these uh in human methods that are being used. Choke holds,

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Speaker 1: a need to the net. None of that is in

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Speaker 1: the police training, but he's developed in the police culture.

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Speaker 1: So if we're going to attack that, yes, well, Congress,

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Speaker 1: let me let me follow up on that. Because you

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Speaker 1: said we got to demilitarize the police. That's different than

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Speaker 1: saying defund the police. What do you say to folks

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Speaker 1: and Republicans and independence and as well as Democrats who

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Speaker 1: are on board with racial equality, but they get very

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Speaker 1: wary and they have safety concerns when they hear things

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Speaker 1: like defund the police. I say that that is a

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Speaker 1: term that is a good sound bite. It may make

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Speaker 1: a few people feel good, but it doesn't do anything

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Speaker 1: to make any headway. Sound Bites will get you a

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Speaker 1: lot of headlines, but they don't make much headway. So

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Speaker 1: I do believe we got the demilitarized, we got the restructure,

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Speaker 1: we got the reform. People get a little frightened when

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Speaker 1: you stop talking about defunding police. So let's not play

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Speaker 1: that game. Let's not give in about it in a cover.

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Speaker 1: And that's all Trump is looking for cover. He keeps

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Speaker 1: talking about this issue using that word or something similar.

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Speaker 1: That's not what they are talking about. The problem is

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Speaker 1: when you've got to explain what you mean, you're losing

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Speaker 1: the argument. In terms of reinvestment, which is something that

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Speaker 1: has also come up, reinvestment on underserved communities. You are

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Speaker 1: the chairman of the Select Subcommittee on the Coronavirus Crisis,

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Speaker 1: and you sent a letter to top banking CEOs of

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Speaker 1: Wells Fargo City p n C and also to Secretary Minution.

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Speaker 1: Are you concerned, sir, that the p p P loans

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Speaker 1: are going to big businesses and not to main street. Yes,

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Speaker 1: I am, And it's not just a concern. I think

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Speaker 1: a lot of them admitted it, and when they first

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Speaker 1: got the money, they favored their longtime customers. Many of

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Speaker 1: them look to see what, well not the ability to

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Speaker 1: repay was there. I know banking. I spent four for

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Speaker 1: teen years on predecessor backs to what it's now Back

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Speaker 1: of America, so I know how backs operate. I was

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Speaker 1: on the audit committee to back. I chaired the Committee

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Speaker 1: Reinvestment Committee of the band, so I know how this goes.

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Speaker 1: So I sent this out because we got complaints from

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Speaker 1: people that they were not being able to get business

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Speaker 1: business loans for their main street facilities. And so that's

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Speaker 1: why I mean we did the second tranch for kids.

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Speaker 1: We mandated the money had to go to UH these

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Speaker 1: community UH financial institutions, committed development financial institutions to credit unions,

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Speaker 1: people who deal with small businesses on a very small

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Speaker 1: basis that helped keep them alive. So I just want

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Speaker 1: to make sure that the people who got the money

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Speaker 1: were deserving and transparent about it. Make sure this is

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Speaker 1: what should the consequences be for financial institutions that are

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Speaker 1: transparent about where this money is going, or who are

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Speaker 1: acting improperly and not providing that liquidity to the main street. Well,

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Speaker 1: we've got a legal staff that worked on that. I'm

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Speaker 1: not an attorney and so I don't get into legal arguments.

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Speaker 1: We are gathering information. I want to know, well not

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Speaker 1: you did it right, and if you did, thank you

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Speaker 1: very much, congratulations. If you didn't, the consequences, I guess

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Speaker 1: the legal staff that helps determine what there should be.

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Speaker 1: And just one final question, what are the prospects of

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Speaker 1: there being another round of economic stimulus before the August

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Speaker 1: recess or even an infrastructure package in the fall. I

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Speaker 1: think both are possible. I think both are needed. We

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Speaker 1: need to pass the Heroes Act. The Houses are ready

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Speaker 1: to pass it. It's a re tree in dollar bill,

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Speaker 1: one tree in dollar going to state and local government.

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Speaker 1: We are the past that we need to do at

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Speaker 1: broad infrastructure bill, not just for roach and bridges and

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Speaker 1: water and sewage, but for broadband deployment. We need to

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Speaker 1: have housing as an infrastructure issue. We need to have

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Speaker 1: a community healthcare centers as an infrastructure e g. These

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Speaker 1: things will not only provide jobs, but provide a tremendous

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Speaker 1: service that will do good throughout the neighborhood. That was

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Speaker 1: Congressman James Clyburn. He is a Democrat from South Carolina.

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Speaker 1: He is the House majority with and of course the

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Speaker 1: Subcommittee chairman on the Coronavirus UH Committee, that is select

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Speaker 1: commitee that's looking into the transparency on a host of

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Speaker 1: different topics. You can check out that full interview on

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Speaker 1: Bloomberg tv dot com and for the for the full

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Speaker 1: for the full interview. All right, coming up next, we're

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Speaker 1: gonna pivot to geopolitics. John to the Leady is gonna

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Speaker 1: join us. We're gonna talk about China and end the

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Speaker 1: India skirmish that has happened. I mean, I think this

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Speaker 1: has been really under Reporter John will break a town

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Speaker 1: for us. He of course as an advisor to the

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Speaker 1: State's department, so we're gonna check in with him. But

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Speaker 1: this story, Hey, Tom Keen, are you listening? Tom Keener?

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Speaker 1: Are you listening? The U s sues to block x

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Speaker 1: national security advisor John Bolton's book Thomas Grilla Me on Surveillance.

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Speaker 1: Earlier today about this, the US government sued to block

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Speaker 1: the publication of a tell all book by John Bolton,

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Speaker 1: Donald Trump's former national security advisor, who claims the president

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Speaker 1: was willing to endanger the nation in order to be

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Speaker 1: re elected. Will the book come out? He would not

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Speaker 1: come out? Can we get our hands on it more. Next,

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Speaker 1: I'm Kevin Sirelli. You're listening to Bloomberg. This is Bloomberg.

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Speaker 1: Sound On with Kevin Surreley on Bloomberg and one oh

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Speaker 1: five point seven f m h D two. This is

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Speaker 1: a crazy story. Matt Shirley, who is uh filling in

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Speaker 1: on the producing desk for us? Well, the indefatigable Christine

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Speaker 1: Barratto gets a couple of days of the KA. This

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Speaker 1: is a crazy story that surely just just flagged for

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Speaker 1: me from the Department of Justice. Are you ready for this?

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Speaker 1: Are you ready for this? Former bumble B CEO sentenced

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Speaker 1: to prison for fixing prices of cantuna tuna. Christopher lishu

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Speaker 1: Ski He's the former CEO and president of Bumblebe Foods LLC,

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Speaker 1: was sentenced to serve forty months in jail and pay

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Speaker 1: a hundred thousand dollars criminal fine for his leadership role

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Speaker 1: in a three year anti trust conspiracy to fix the

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Speaker 1: prices of cantuna. Do you believe tuna? John Celites is

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Speaker 1: on the line. John, you can't even have tuna anymore

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Speaker 1: without it being any trust violation. And I mean, who

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Speaker 1: fixed the price of tuna? John? Demand justice? I think

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Speaker 1: I think you're speechless. Who goes mad for finding this one? Ah,

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Speaker 1: he's in our video. I think he's a little flabbergasted

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Speaker 1: that I actually took him up on that. John's the

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Speaker 1: geopolitical strategist of Trilogy Advisors and diplomacy consultant to the

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Speaker 1: State's Department. And I guess our Tuna chief correspondent. Okay, John,

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Speaker 1: this is switching gears entirely a little bit. Yeah, you

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Speaker 1: might say, so there. I mean, on this very serious note,

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Speaker 1: there was a skirmish along the Indiana China border. What

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Speaker 1: do we know and why is this so incredibly volatile? Well,

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Speaker 1: let's let's make sure we put this in the proper context. Kevin.

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Speaker 1: We're working with still imperfect information because we're dealing I

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Speaker 1: think it's beyond skirmishes. Now, there are dozens of Indian

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Speaker 1: and Chinese soldiers who have been killed on the highest

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Speaker 1: mountain range in the world, very very dangerous area. And

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Speaker 1: the two countries, the two colossus countries of the Asian continent,

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Speaker 1: share a twenty one hundred mile border that has never

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Speaker 1: been fully demarketed. And remember also, China and India are

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Speaker 1: nuclear armed powers, so it's very important that we try

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Speaker 1: to encourage a de escalation of this situation as quickly

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Speaker 1: as possible. But what's happened essentially is that China and

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Speaker 1: India have had these disputes for decades. Kevin. And remember

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Speaker 1: these two countries went to war for one month in

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Speaker 1: nineteen sixty two, that was only sixty years ago, just

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Speaker 1: under sixty years. And they have these uh, these disputed

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Speaker 1: territorial claims on each other's border. And then you have

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Speaker 1: the small country of Nepal in between. And these three

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Speaker 1: countries have all been making claims China and Nepal against India,

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Speaker 1: India against China and Nepal. Then you've got the nationalism

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Speaker 1: inside of China and India, and you've had some road

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Speaker 1: construction by India in recent months they re jiggered the

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Speaker 1: maps of Kashmir that famous led Zeppelin song from physical

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Speaker 1: Graffiti in factually a very dangerous part of the world. Kevin.

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Speaker 1: And so you have nuclear armed powers who soldiers are

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Speaker 1: now killing each other, and the Himalayan plateaus and mountain ranges,

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Speaker 1: and there's really no way for this to de escalate

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Speaker 1: unless the two powers, Beijing and New Delhi decide they

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Speaker 1: have to find a framework for negotiating a standoff here

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Speaker 1: and some drawback to not peace, but at least an

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Speaker 1: end to hostilities. So, I mean, it's it's a very

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Speaker 1: very volatile region. But this caught everyone by surprise. What

429
00:25:40,560 --> 00:25:44,400
Speaker 1: are they fighting over? Well, let's just say, first of all,

430
00:25:44,400 --> 00:25:47,320
Speaker 1: it shouldn't have caught too many people by surprise. The

431
00:25:47,400 --> 00:25:50,600
Speaker 1: skirmishes actually began in May. So this has been going

432
00:25:50,600 --> 00:25:52,480
Speaker 1: on for about five or six weeks. And you may

433
00:25:52,520 --> 00:25:56,320
Speaker 1: recall the end of May, President Trump tweeted that he

434
00:25:56,359 --> 00:26:00,440
Speaker 1: would be happy to mediate between China and India. Won't

435
00:26:00,440 --> 00:26:02,800
Speaker 1: think the Chinese were, trust I think a lot of

436
00:26:02,800 --> 00:26:06,080
Speaker 1: people are coming into this new so. So, so, what

437
00:26:06,080 --> 00:26:08,800
Speaker 1: what are they fighting over? I mean, yes, there's the historic,

438
00:26:09,280 --> 00:26:12,359
Speaker 1: there's a historic of the nineteen sixties, but but currently,

439
00:26:12,520 --> 00:26:15,400
Speaker 1: what are they fighting over? It's the same story they've

440
00:26:15,440 --> 00:26:18,239
Speaker 1: been fighting over for decades. They're fighting over territory, and

441
00:26:18,359 --> 00:26:21,160
Speaker 1: territory Kevin is what sovereign countries go to war over.

442
00:26:21,720 --> 00:26:25,399
Speaker 1: So it's very very dangerous. They had pretty much a

443
00:26:25,440 --> 00:26:28,600
Speaker 1: peaceful arrangement. They've had a number of minors skirmishes and

444
00:26:28,640 --> 00:26:31,800
Speaker 1: scuffles with soldiers beating each other up or using sticks

445
00:26:31,800 --> 00:26:35,240
Speaker 1: on each other, and they've been a number of skirmishes recently,

446
00:26:35,480 --> 00:26:39,080
Speaker 1: but this is now escalated significantly since November of last year,

447
00:26:39,080 --> 00:26:44,520
Speaker 1: ever since India unilaterally changed Kashmir's borders, angering China and Nepal.

448
00:26:44,880 --> 00:26:47,000
Speaker 1: But I think there's something else that's happening here. Also

449
00:26:47,240 --> 00:26:51,840
Speaker 1: a lot of infrastructure construction that's challenging each country's territorial claims.

450
00:26:52,080 --> 00:26:54,320
Speaker 1: But I think what's happening in China is very interesting.

451
00:26:54,400 --> 00:26:59,120
Speaker 1: Kevin COVID. The world has been distracted by COVID by

452
00:26:59,160 --> 00:27:02,840
Speaker 1: dealing with locked onto their respective countries. Also, many countries

453
00:27:02,840 --> 00:27:05,760
Speaker 1: are very angry at China food the way they deceptively

454
00:27:06,880 --> 00:27:10,680
Speaker 1: unleashed this virus on the world back in January and February.

455
00:27:10,840 --> 00:27:14,000
Speaker 1: And I think also China is very threatened by India

456
00:27:14,200 --> 00:27:16,840
Speaker 1: maybe looking to play above its way by partnering with

457
00:27:16,880 --> 00:27:21,119
Speaker 1: the United States to contain Chinese strategic ambitions in China

458
00:27:21,280 --> 00:27:23,920
Speaker 1: in the Indian Ocean. And so this is China trying

459
00:27:23,960 --> 00:27:29,520
Speaker 1: to cut India down to size. So I mean, it's

460
00:27:29,960 --> 00:27:33,480
Speaker 1: it's is this, I hear you. So it's China feeling

461
00:27:33,480 --> 00:27:38,520
Speaker 1: emboldened right now, I mean very much. I'm very confused.

462
00:27:38,600 --> 00:27:42,360
Speaker 1: This is where I'm very confused. Why are they feeling embolden?

463
00:27:42,520 --> 00:27:46,280
Speaker 1: Is it because Europe has not you know, adequately put

464
00:27:46,280 --> 00:27:48,240
Speaker 1: pressure on them? I mean why is why is the

465
00:27:48,280 --> 00:27:52,320
Speaker 1: Communist Party of China which lack transparency? I mean, by

466
00:27:52,359 --> 00:27:56,960
Speaker 1: every account from according to Republicans and Democrats, the intelligence community,

467
00:27:57,080 --> 00:27:59,960
Speaker 1: Europe has raised questions. I mean, why are they feel

468
00:28:00,160 --> 00:28:04,199
Speaker 1: emboldened at a moment when they've you know, when the

469
00:28:04,280 --> 00:28:08,119
Speaker 1: international community is raising these questions. I don't know that

470
00:28:08,240 --> 00:28:11,680
Speaker 1: China feels any pain from Europe in any way. I mean,

471
00:28:11,760 --> 00:28:15,720
Speaker 1: these things that they're able to handle in in the

472
00:28:15,760 --> 00:28:19,320
Speaker 1: fields of media and legal intervention and the like. You know,

473
00:28:19,480 --> 00:28:24,000
Speaker 1: what's happening here is a very muscular, belligerent Chinese strategy

474
00:28:24,040 --> 00:28:26,280
Speaker 1: that really you know, they've sort of you know, taken

475
00:28:26,640 --> 00:28:29,640
Speaker 1: the covers off and become much more embolden in Hong

476
00:28:29,720 --> 00:28:32,800
Speaker 1: Kong with the imposition of the National Security Law. They're

477
00:28:32,840 --> 00:28:36,679
Speaker 1: openly threatening Taiwan. Ever since, Taiwan's performance in dealing with

478
00:28:36,720 --> 00:28:39,560
Speaker 1: COVID has really made it a jewel of of the

479
00:28:39,600 --> 00:28:42,680
Speaker 1: Western Pacific and a model of what a more democratic,

480
00:28:42,720 --> 00:28:47,000
Speaker 1: free market China could eventually be. Uh. They sank a

481
00:28:47,080 --> 00:28:50,040
Speaker 1: Vietnamese ship in the South China see just several months ago,

482
00:28:50,440 --> 00:28:54,040
Speaker 1: they continue to threaten the United States Navy operating in

483
00:28:54,160 --> 00:28:57,280
Speaker 1: international waters in the South China see. And now you

484
00:28:57,360 --> 00:29:01,760
Speaker 1: see this emboldened activity on the dan border. There was

485
00:29:01,800 --> 00:29:05,440
Speaker 1: nothing going on before May of any serious consequence to China.

486
00:29:05,920 --> 00:29:08,680
Speaker 1: And this could also be Kevin tied to what's happening

487
00:29:08,720 --> 00:29:11,400
Speaker 1: inside of China now that they've got their third outbreak

488
00:29:11,800 --> 00:29:14,600
Speaker 1: in Beijing the last several days, and it's a good

489
00:29:14,600 --> 00:29:17,920
Speaker 1: way to build up nationalist sentiment in support of Chijing

490
00:29:17,960 --> 00:29:21,000
Speaker 1: Ping and the Communist Party, while the Chinese people are

491
00:29:21,080 --> 00:29:23,560
Speaker 1: very much concerned about what could be a serious outbreak

492
00:29:23,560 --> 00:29:26,320
Speaker 1: in the capital. So you've got a virus and you've

493
00:29:26,360 --> 00:29:32,440
Speaker 1: got now ing. Now, wow, remarkable. Do you think this

494
00:29:32,480 --> 00:29:34,200
Speaker 1: is going to further escalate? Do you think this gonna

495
00:29:34,240 --> 00:29:37,360
Speaker 1: lead to all out war? I don't believe it's going

496
00:29:37,400 --> 00:29:39,240
Speaker 1: to lead to all that war because I think the

497
00:29:39,600 --> 00:29:42,400
Speaker 1: leaders on both sides recognize it would be catastrophic for

498
00:29:42,480 --> 00:29:45,760
Speaker 1: both especially because once it goes into an all outshooting war,

499
00:29:46,040 --> 00:29:49,840
Speaker 1: there's no way to control a conventional war not becoming nuclear,

500
00:29:49,880 --> 00:29:53,320
Speaker 1: and that would be absolutely catastrophic for those countries, and

501
00:29:53,400 --> 00:29:55,960
Speaker 1: really for the world economy. But I think what you're

502
00:29:55,960 --> 00:29:58,880
Speaker 1: going to see is is continue tensions for quite some

503
00:29:58,920 --> 00:30:02,200
Speaker 1: time because neither a hijinking northern ne Rendramodi, the Prime

504
00:30:02,240 --> 00:30:05,080
Speaker 1: Minister of India, can be seen as backing down while

505
00:30:05,080 --> 00:30:08,600
Speaker 1: the other country, their Great Asian rival, are seen as

506
00:30:08,640 --> 00:30:12,240
Speaker 1: occupying territory claimed by the respective country. So they have

507
00:30:12,360 --> 00:30:14,480
Speaker 1: to find a cooler way to de escalate. And this

508
00:30:14,600 --> 00:30:18,000
Speaker 1: may actually escalate first in order to put pressure on

509
00:30:18,040 --> 00:30:21,320
Speaker 1: each side to finally pull back in de escalate. John said,

510
00:30:21,400 --> 00:30:26,160
Speaker 1: Lady's breaking all of that down for us. Wow, a fasting, fascinating,

511
00:30:26,240 --> 00:30:31,000
Speaker 1: fascinating story. He's a geopolitical strategist at Trilogy Advisors and

512
00:30:31,040 --> 00:30:34,520
Speaker 1: the diplomacy consultant to the State Department. Coming up, we

513
00:30:34,640 --> 00:30:38,280
Speaker 1: pivot to Eli Yoakley, political reporter for the morning consult

514
00:30:38,360 --> 00:30:40,480
Speaker 1: is going to join us on the race for the

515
00:30:40,480 --> 00:30:44,400
Speaker 1: White House and Michigan, in particular, why is Joe Biden

516
00:30:44,440 --> 00:30:47,040
Speaker 1: leading by double digits in the battleground state. You can

517
00:30:47,040 --> 00:30:50,760
Speaker 1: download the Sound Odd podcast on applei Junes, at Bloomberg

518
00:30:50,880 --> 00:30:53,440
Speaker 1: dot com, or by downloading the Bloomberg Business app. You

519
00:30:53,480 --> 00:30:56,200
Speaker 1: can also find me on Radio dot com, I Heart

520
00:30:56,280 --> 00:30:59,040
Speaker 1: Radio and Spotify. My name is Kevin Cereli. I'm the

521
00:30:59,120 --> 00:31:02,000
Speaker 1: Chief Washington forest for Bloomberg TV and from Bloomberg Radio.

522
00:31:02,040 --> 00:31:09,080
Speaker 1: And you are listening to Bloomberg. This is Bloomberg's Sound

523
00:31:09,120 --> 00:31:13,680
Speaker 1: On with Kevin Surrele on Bloomberg and one oh five

524
00:31:13,720 --> 00:31:16,680
Speaker 1: point seven FM h D two. I'm Kevin Sirelli on

525
00:31:16,800 --> 00:31:22,479
Speaker 1: the Chief Washington correspondent for Bloomberg TV and Bloomberg Radio.

526
00:31:22,720 --> 00:31:26,600
Speaker 1: Let's talk about shall we actually before we talk about,

527
00:31:27,200 --> 00:31:29,720
Speaker 1: let's do some more optimism. We gotta end, we gotta last,

528
00:31:29,760 --> 00:31:32,280
Speaker 1: you know, last segment. We got end with some optimism.

529
00:31:32,360 --> 00:31:35,479
Speaker 1: Let's read from the Associated Press. American shoppers ramped up

530
00:31:35,520 --> 00:31:39,760
Speaker 1: there spending on store purchases by a record seventeen point

531
00:31:39,880 --> 00:31:43,880
Speaker 1: seven percent from April to May, delivering a dose of

532
00:31:43,960 --> 00:31:47,760
Speaker 1: energy for retailers that have been reeling since the coronavirus

533
00:31:47,800 --> 00:31:51,000
Speaker 1: shutdown businesses, flattened economy. All right, we know it ap

534
00:31:51,200 --> 00:31:55,640
Speaker 1: and paralyzed consumers during the previous two months. This is

535
00:31:56,360 --> 00:31:59,920
Speaker 1: good news. It's optimism. Eli Oakley, is a political report,

536
00:32:00,000 --> 00:32:05,720
Speaker 1: are for the morning consult? Eli? Tell me something optimistic? Well,

537
00:32:05,760 --> 00:32:10,640
Speaker 1: you know I have something the opposite for you. Kevin

538
00:32:11,040 --> 00:32:15,280
Speaker 1: on a Tuesday. I'm an optimist. Go ahead. Well, we've

539
00:32:15,280 --> 00:32:18,960
Speaker 1: talked some of the world like this. We've we've talked

540
00:32:19,000 --> 00:32:21,320
Speaker 1: some of the worst voter optimism we've seen since we

541
00:32:21,360 --> 00:32:23,400
Speaker 1: started doing this at the beginning of Trump's presidency and

542
00:32:23,440 --> 00:32:25,920
Speaker 1: the last week. Um. And so it's good to hear

543
00:32:25,960 --> 00:32:29,080
Speaker 1: consumers are okay, but voters aren't with him. All right,

544
00:32:29,200 --> 00:32:31,400
Speaker 1: So where do we stand? Give us the Lady Lamb.

545
00:32:31,400 --> 00:32:33,360
Speaker 1: Where the polls give us the Lady Lamb? Bidens up,

546
00:32:34,000 --> 00:32:36,400
Speaker 1: bidens up. Biden's up bigger than he's been all year,

547
00:32:36,400 --> 00:32:38,680
Speaker 1: by nine points in our tracking. Now we're seeing that

548
00:32:38,720 --> 00:32:41,080
Speaker 1: in some of the other polls that are popping up

549
00:32:41,080 --> 00:32:44,160
Speaker 1: across the country throughout this Black Lives Matter of protests

550
00:32:44,240 --> 00:32:48,400
Speaker 1: moment um that's kind of coupled with the coronavirus momentum.

551
00:32:48,480 --> 00:32:51,320
Speaker 1: In our tracking, we've seen that Biden's improvements have been

552
00:32:51,360 --> 00:32:55,760
Speaker 1: driven by younger voters. Aggressive voters. These guys who were

553
00:32:55,800 --> 00:32:57,920
Speaker 1: big supports of Bernie Sanders have been a bit weary

554
00:32:57,960 --> 00:33:00,600
Speaker 1: at him, seemed to be coming home a bit um.

555
00:33:00,680 --> 00:33:04,000
Speaker 1: And also young white people are really coming back behind him.

556
00:33:04,040 --> 00:33:06,080
Speaker 1: As all these things kind of stuck on top of

557
00:33:06,120 --> 00:33:08,760
Speaker 1: each other. Donald Trump is getting his worst marks we've

558
00:33:08,840 --> 00:33:11,920
Speaker 1: seen on coronavirus, and Joe Biden is getting much better

559
00:33:11,960 --> 00:33:15,000
Speaker 1: marks for his handling of some of these protests. So

560
00:33:15,400 --> 00:33:18,280
Speaker 1: this is not a great time to be Donald Trump. Okay,

561
00:33:18,360 --> 00:33:22,320
Speaker 1: So yesterday before the show, I checked in with Matt Brooks,

562
00:33:22,320 --> 00:33:25,760
Speaker 1: he's the executive director of the Republican Jewish Coalition. We

563
00:33:25,760 --> 00:33:28,640
Speaker 1: were just catching up and he was saying that you

564
00:33:28,760 --> 00:33:31,000
Speaker 1: got to look at the not the top line numbers,

565
00:33:31,040 --> 00:33:34,120
Speaker 1: but the bottom or the cross taps, because from his perspective,

566
00:33:34,120 --> 00:33:38,760
Speaker 1: if you look at things, especially for suburban voters, if

567
00:33:38,800 --> 00:33:41,520
Speaker 1: you look at things pertaining to defunding the police, that's

568
00:33:41,520 --> 00:33:45,280
Speaker 1: incredibly unpopular. Even James Clyburn on this program said he

569
00:33:45,360 --> 00:33:48,280
Speaker 1: doesn't think defunding the police is something that should be

570
00:33:49,480 --> 00:33:53,640
Speaker 1: openly discussed in the sense that it's he doesn't like

571
00:33:53,720 --> 00:33:56,920
Speaker 1: that the way that that's framed. So Republicans feel confident

572
00:33:56,960 --> 00:34:00,200
Speaker 1: on the issue of defunding the police, and they've got

573
00:34:00,240 --> 00:34:04,080
Speaker 1: this broader issue eli locally political reporter for The Morning Consul.

574
00:34:04,480 --> 00:34:10,040
Speaker 1: They also feel that some of the President's actions as

575
00:34:10,080 --> 00:34:14,600
Speaker 1: it relates to the police are six months or four

576
00:34:14,640 --> 00:34:18,160
Speaker 1: months from now, going to be viewed very Differently, is

577
00:34:18,160 --> 00:34:21,160
Speaker 1: there any evidence to suggest that Republicans should be optimistic

578
00:34:21,160 --> 00:34:25,640
Speaker 1: about any of this playing out in a couple of months. Differently, Yeah,

579
00:34:25,680 --> 00:34:27,719
Speaker 1: I mean, to fund the police as a slogan is

580
00:34:27,719 --> 00:34:30,239
Speaker 1: not a popular slogan, but as a movement, I mean

581
00:34:30,280 --> 00:34:32,640
Speaker 1: we're seeing UM in some some of the indications we're

582
00:34:32,640 --> 00:34:35,319
Speaker 1: getting are some of the ideas behind it are sort

583
00:34:35,360 --> 00:34:39,160
Speaker 1: of popular, at least they split the suburbs maybe. Um. Look,

584
00:34:39,520 --> 00:34:41,920
Speaker 1: Donald Trump throughout his presidency has wanted to make the

585
00:34:42,960 --> 00:34:46,080
Speaker 1: political terrain about energizing his base, exchange with China during

586
00:34:46,120 --> 00:34:49,160
Speaker 1: coronavirus result, with immigration earlier on it his presidency. I

587
00:34:49,160 --> 00:34:52,000
Speaker 1: think we're seeing the same thing with his focus on

588
00:34:52,000 --> 00:34:54,120
Speaker 1: on pollem And by the way, I mean he embraced

589
00:34:54,160 --> 00:34:56,239
Speaker 1: some of the things that some of the black activists

590
00:34:56,440 --> 00:34:59,160
Speaker 1: in Barack Obama had been pushing for UM to a

591
00:34:59,239 --> 00:35:02,640
Speaker 1: lesser extent um in his executive orders today. Um, So

592
00:35:02,719 --> 00:35:05,000
Speaker 1: clearly he's thinking a little bigger than just his base.

593
00:35:05,120 --> 00:35:07,279
Speaker 1: But but clearly, I mean he's leaning into this to

594
00:35:07,320 --> 00:35:10,920
Speaker 1: fund the base, to fund the police, talk just to

595
00:35:11,040 --> 00:35:15,040
Speaker 1: energize his supporters and perhaps wedge Joe Biden. Although we've

596
00:35:15,040 --> 00:35:18,440
Speaker 1: seen some prominent Black leaders, including the head of the

597
00:35:18,880 --> 00:35:21,440
Speaker 1: Commercial Black Caucus, say that she thinks it's not a

598
00:35:21,520 --> 00:35:25,200
Speaker 1: very good slogan as Democrats on Capitol healthcon trying to

599
00:35:25,239 --> 00:35:28,239
Speaker 1: push their own thing. So I think, why wasn't this?

600
00:35:28,680 --> 00:35:30,440
Speaker 1: I mean, because he's going to get up on a

601
00:35:30,480 --> 00:35:34,239
Speaker 1: debate stage against Biden. He's gonna say, why didn't you

602
00:35:34,280 --> 00:35:36,919
Speaker 1: pass this? You had eight years? You had eight years

603
00:35:36,960 --> 00:35:39,839
Speaker 1: to pass this? I mean, and and respectfully, I mean,

604
00:35:40,080 --> 00:35:43,239
Speaker 1: it's a divided Congress, it's an incredibly polarized time. He's

605
00:35:43,280 --> 00:35:46,399
Speaker 1: a Republican in the White House, and he's the one

606
00:35:46,440 --> 00:35:48,080
Speaker 1: that's going to sign into law the band of the

607
00:35:48,120 --> 00:35:51,719
Speaker 1: Choke Cold. Why why was in this past during that

608
00:35:52,200 --> 00:35:54,560
Speaker 1: your window? You know, that's the argument Republicans are going

609
00:35:54,600 --> 00:35:56,840
Speaker 1: to say. Yeah, well, I'm certainly not here to speak

610
00:35:56,840 --> 00:35:59,799
Speaker 1: for Joe Biden's cap I know I'm not, but but yeah,

611
00:36:00,320 --> 00:36:05,640
Speaker 1: that's our friend Kevin Wellings job. But what I want

612
00:36:05,760 --> 00:36:09,200
Speaker 1: to We've got like three minutes dabs. But what I

613
00:36:09,200 --> 00:36:11,440
Speaker 1: would say would be that, I mean, these are policies

614
00:36:11,520 --> 00:36:14,759
Speaker 1: that Barack Obama UM got a task force together to

615
00:36:14,800 --> 00:36:18,160
Speaker 1: put into a big document at the Indivance presidency. After

616
00:36:18,239 --> 00:36:20,760
Speaker 1: person they've been sitting there on the shelf for a while.

617
00:36:21,200 --> 00:36:24,239
Speaker 1: Joe Biden was clearly involved in that um and and

618
00:36:25,000 --> 00:36:27,200
Speaker 1: what Donald Trump is doing is by executive action, So

619
00:36:27,239 --> 00:36:30,400
Speaker 1: someone this is going to take action from Congress. And

620
00:36:30,440 --> 00:36:32,840
Speaker 1: whether or not Congress can get on the same page

621
00:36:32,840 --> 00:36:35,840
Speaker 1: as the president in an election year on this issue

622
00:36:35,920 --> 00:36:38,680
Speaker 1: is still yet to be seen. I think, Okay, and

623
00:36:38,719 --> 00:36:42,040
Speaker 1: this is where I'm gonna interrupt, because this election is

624
00:36:42,080 --> 00:36:45,279
Speaker 1: going to be decided in the suburbs of Michigan, Wisconsin,

625
00:36:46,120 --> 00:36:49,200
Speaker 1: and those two states in particular. Biden has a double

626
00:36:49,239 --> 00:36:52,760
Speaker 1: digit lead in Michigan right now, and and and whatnot.

627
00:36:53,480 --> 00:36:56,920
Speaker 1: I'm we all got to get out of our ideological bubbles.

628
00:36:57,000 --> 00:36:59,480
Speaker 1: We all got to get out of our ideological clickbait

629
00:36:59,640 --> 00:37:01,399
Speaker 1: bubble is that we all click on. And we got

630
00:37:01,400 --> 00:37:05,160
Speaker 1: to think, how are those voters who who live out

631
00:37:05,280 --> 00:37:07,120
Speaker 1: in different parts of the country, how are they going

632
00:37:07,160 --> 00:37:11,120
Speaker 1: to interpret a debate when Donald Trump is on the stage.

633
00:37:11,160 --> 00:37:13,120
Speaker 1: President Trump is on the stage next to the former

634
00:37:13,200 --> 00:37:16,120
Speaker 1: vice president and turns at him and says, why didn't

635
00:37:16,200 --> 00:37:19,920
Speaker 1: you get this done? And that moment like it or

636
00:37:20,000 --> 00:37:22,879
Speaker 1: lump it? How that plays with independent voters? That Eli

637
00:37:23,160 --> 00:37:24,919
Speaker 1: Kle knows very well, from all the polling that morning,

638
00:37:24,960 --> 00:37:28,319
Speaker 1: consul does that's going to decide the election. I really

639
00:37:28,360 --> 00:37:31,440
Speaker 1: believe it. I really What I would say is this's

640
00:37:31,440 --> 00:37:33,359
Speaker 1: not the only thing. I mean, we thought a month

641
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Speaker 1: ago that all we'd be talking about this year is coronavirus.

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00:37:35,800 --> 00:37:38,160
Speaker 1: We thought four months or five months ago that all

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Speaker 1: we'd be talking about this year is impeachment. I think

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Speaker 1: Stue Rothenberg had a great comment roll call today just

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00:37:43,719 --> 00:37:46,520
Speaker 1: noting the fact that like we could be talking about

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Speaker 1: anything of six months from now. Well, you brought up,

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00:37:50,400 --> 00:37:53,719
Speaker 1: you brought up the coronavirus. How does the president pull

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00:37:53,760 --> 00:37:56,920
Speaker 1: on the economy. He's it okay on the economy. The

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00:37:56,920 --> 00:37:59,440
Speaker 1: economy is a strong point, and that's the election of

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00:37:59,520 --> 00:38:02,400
Speaker 1: spot on the economy. That's good for him. The bigger

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00:38:02,480 --> 00:38:08,040
Speaker 1: question is is whether the econmunal uh strengthening by November.

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Speaker 1: I mean, we're seeing across the map in increases in

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00:38:11,120 --> 00:38:15,200
Speaker 1: coronavirus cases. Voters are giving Trump his worst ratings on

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00:38:15,360 --> 00:38:18,880
Speaker 1: his handling of coronavirus since we started tracking it earlier

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00:38:18,920 --> 00:38:23,640
Speaker 1: this year. Um, they're clearly separating that from his economic performance.

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Speaker 1: But you know, if we've got a surge in the

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00:38:25,400 --> 00:38:27,839
Speaker 1: fall Um. You know, that's not that's not a good

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00:38:27,840 --> 00:38:29,560
Speaker 1: thing for the president. So there's a lot of open

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Speaker 1: questions were facing. I think that's really I think that's

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Speaker 1: the biggest unknown because I actually if you look at

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Speaker 1: the polls, Independence are siding with Trump in terms of

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00:38:38,160 --> 00:38:41,680
Speaker 1: the economy, They've got questions for Biden and and Trump

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00:38:41,719 --> 00:38:44,359
Speaker 1: has framed this as I want to reopen, Biden wants

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Speaker 1: to keep it shut down. So that's that. But to

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Speaker 1: your point, should there be a resurgence and China, and

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Speaker 1: you know, with China on lockdown again, are parts of

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00:38:54,040 --> 00:38:59,040
Speaker 1: Beijing on lockdown again? Uh? Who knows? But the science

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00:38:59,080 --> 00:39:01,680
Speaker 1: really could impact the reality in terms of whether or

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Speaker 1: not there's going to be another, hopefully not another strain

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Speaker 1: of this thing. And we've got like a minute epic ahead.

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Speaker 1: I'll just stay in the middle of the country. This

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00:39:08,920 --> 00:39:11,200
Speaker 1: is popping up. I read the Jopling Globe every morning

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00:39:11,239 --> 00:39:14,560
Speaker 1: first thing back home, And since reopening on May one,

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00:39:14,960 --> 00:39:17,640
Speaker 1: the number of cases in that southwest Missouri town have

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00:39:17,760 --> 00:39:21,320
Speaker 1: doubled in the last few weeks. The governor, who's facing

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00:39:21,360 --> 00:39:24,560
Speaker 1: a pretty wealth funded opponent and maybe a tough races

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Speaker 1: probably not Um. He's pushing for a reopen even some

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Speaker 1: of these smaller conservative towns, or like, wait a minute,

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00:39:31,280 --> 00:39:33,320
Speaker 1: let's slow down a little bit. So I think this

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Speaker 1: is a lot gonna be at played there in the

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00:39:34,640 --> 00:39:36,880
Speaker 1: next few months on this. That's why you know what,

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Speaker 1: what's the hometown paper called the Dropping Globe, the Choplin Globe.

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Speaker 1: I read the Dlker Times every morning, every single morning.

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Speaker 1: Um So, Eli, you know we're all homesick, especially these

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Speaker 1: That's right, Eli, Yuckly. He is a political reporter for

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Speaker 1: The Morning Consult. He does great stuff over at the

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00:39:55,360 --> 00:39:58,280
Speaker 1: Morning Consult. Go check out his reporting. He'd like explains

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00:39:58,280 --> 00:40:01,600
Speaker 1: the numbers in a way that don't think other posters do.

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Speaker 1: So thanks to Eli for coming on and talking about that.

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Speaker 1: Coming up tomorrow, we're gonna check in with sim Marza.

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Speaker 1: He is the communications director for the President's reelection campaign

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Speaker 1: and Marshall blackburn eby on Thursday of Kevin Cirelli, Chief

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Speaker 1: Washington correspondent f for MEMBERG Television on Woomberg Radio and

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Speaker 1: thanks for listening, So Bloomberg One