WEBVTT - Rattner: Trump has deep psychological problems

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<v Speaker 1>Broadcasting live to New York, Bloomberg eleventh Rio to Washington,

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<v Speaker 1>This is Bloomberg Surveillance. It is a thirty on Wall

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<v Speaker 1>Street and Michael McKee along with Tom Keener Economic Indicators

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<v Speaker 1>Today brought to you by Commonwealth Financial Network. When it's

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<v Speaker 1>time to change the conversation, talk with a broker dealer

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<v Speaker 1>Here's Vinedale Judais at the First Word Desk, Michael Economic

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<v Speaker 1>News jobless claims they are up by six thousand a

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<v Speaker 1>two hundred seventy eight thousand topping forecast. Revised data on

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<v Speaker 1>fourth quarter productivity, meantime down two point two percent less

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<v Speaker 1>than forecast, unt labor costs up three point three percent again,

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<v Speaker 1>jobless claims rising last week up by six thousand to

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<v Speaker 1>seventy eight thousand. At the First Work Desk, I'm vide

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<v Speaker 1>de junice. Let's go back to New York Videl junk Uh. Well,

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<v Speaker 1>I don't know whether you call a move from a

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<v Speaker 1>negative three percent, a three percent contraction in productivity to

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<v Speaker 1>a two point two percent contraction is good news or not.

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<v Speaker 1>I suppose on a relative thesis, but the unit labor

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<v Speaker 1>costs jop three point three percent is catch people's eye.

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<v Speaker 1>Can you adjust the mic of our next steam guest?

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<v Speaker 1>He is um, he's been he's been searching for something

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<v Speaker 1>to do, moving into spring and summer in onto Cleveland

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<v Speaker 1>and Philadelphia. Maybe we could get him to be the

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<v Speaker 1>GOP SR. I mean, I mean, I think there's a

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<v Speaker 1>job opportunity. I don't. I don't think I'm qualified, but

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<v Speaker 1>they definitely need somebody go ahead. Where we're watching what's

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<v Speaker 1>going on with fascination and wondering. Were talking over the

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<v Speaker 1>last two days while we were done in Washington about

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<v Speaker 1>how Wall Street is seeing all this, I mean, leaving

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<v Speaker 1>aside individual candidates, but the fracturing of one party, um,

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<v Speaker 1>the move to the left uh and in the other party, UM,

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<v Speaker 1>the people with the money and a lot at stake,

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<v Speaker 1>how they're viewing all of this at this point I

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<v Speaker 1>think with fear, in trepidation, I think people on Wall Street.

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<v Speaker 1>People on Wall Street are basically not that ideological in

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<v Speaker 1>many ways. They have, you know, they have a point

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<v Speaker 1>of view, they have they may belong to a party,

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<v Speaker 1>but they're not extremists. They're kind of pragmatists. They're kind

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<v Speaker 1>of centrists, a bit like the majority owner of Bloomberg LP.

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<v Speaker 1>And there's our there's our Disclaimers radio station, uh and

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<v Speaker 1>and so they view all this with alarm. They they

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<v Speaker 1>you know, in an extreme case, they worry that we

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<v Speaker 1>could go off the deep end into into some unknown

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<v Speaker 1>political area, the way countries in Europe have from time

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<v Speaker 1>to time. And even short of that, they worry about about,

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<v Speaker 1>you know, who's going to be in the White House.

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<v Speaker 1>Mr Trump enjoys, as far as I can tell, zero

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<v Speaker 1>support on Wall Street. I don't know anybody in the

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<v Speaker 1>business community, but I shouldn't say anybody, but virtually nobody

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<v Speaker 1>in the business can be supporting him for any number

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<v Speaker 1>of reasons. I think on the Democratic side, things have

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<v Speaker 1>gotten a bit what I would call better, in that

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<v Speaker 1>I think Hillary Clinton's path to the nomination is now

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<v Speaker 1>quite clear, and so while she may have moved a

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<v Speaker 1>bit to the left during this primary season, I think

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<v Speaker 1>I don't think we're gonna have a socialist as the

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<v Speaker 1>Democratic nominee. But Steve, right now, that's the issue. You

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<v Speaker 1>nail it. Absolutely. People shift through an election year. Do

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<v Speaker 1>you see any perception that any of the three Republican

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<v Speaker 1>front runners right now can shift as Raygan did, to

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<v Speaker 1>the middle of this nation's psychology. I would say, I

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<v Speaker 1>would say, I think I think it's possible that Rubio

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<v Speaker 1>can and and I don't know whether this is a

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<v Speaker 1>backhanded compliment, but I think he's shown that he is,

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<v Speaker 1>how shall I put it, flexible in his opinions, pragmatic

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<v Speaker 1>on immigration. As you know, he's had a variety of

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<v Speaker 1>opinions on choice, He's had a variety of pro choice, choice,

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<v Speaker 1>choice versus life issues. He's had a variety of opinions.

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<v Speaker 1>So I think he is capable of moving. Ted Cruiz

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<v Speaker 1>is a complete extreme idealogue who in some ways would

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<v Speaker 1>be worse for the Republican Party I think in a

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<v Speaker 1>general election than Trump, and Trump has Trump has deep

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<v Speaker 1>psychological problems that make him really unfit to were a

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<v Speaker 1>student of our history on this, I think of William Jennings,

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<v Speaker 1>Bryan or any of the other movements coalescing eight forward

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<v Speaker 1>coming out of the civil or the word the last

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<v Speaker 1>few days has been movement. If it is a movement

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<v Speaker 1>that Mr Trump is affecting, how to institutions staunch that

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<v Speaker 1>movement so it doesn't get over thirty x percent of

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<v Speaker 1>the electorate in the long run. This is what I'm

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<v Speaker 1>about to say. Has been discussed many times, but but

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<v Speaker 1>what seems very clear to all of us is that

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<v Speaker 1>Trump represents a group of Americans who have not done

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<v Speaker 1>well economically over the last five, ten, fifteen, twenty years,

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<v Speaker 1>who feel marginalized, who therefore feel threatened by immigrants and

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<v Speaker 1>things like that, and makes them more nativists. And the

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<v Speaker 1>way to deal with this is not there's no short

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<v Speaker 1>term fix. The way to deal with this in the

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<v Speaker 1>long term is to take care of these people and

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<v Speaker 1>find them jobs, help them with increase their incomes, and

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<v Speaker 1>give them a better life. That's really what that's really

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<v Speaker 1>what's bothering them? Why are we doing When you look

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<v Speaker 1>at the markets, there doesn't seem to be any reflection

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<v Speaker 1>of horror in what's been going on at the in

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<v Speaker 1>the stock market versus what's going on in the campaign trail.

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<v Speaker 1>Investors have to discount the future even as they look

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<v Speaker 1>at this and the negatives that you're sighting with these candidates,

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<v Speaker 1>is their a view as they game things out, that yes,

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<v Speaker 1>these people may get elected, but the way the American

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<v Speaker 1>system works, not much terrible is going to happen. I

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<v Speaker 1>think there's a few things are going First of all,

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<v Speaker 1>I think that, uh, the probability of any one candidate

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<v Speaker 1>getting elected is obviously not even because you still have

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<v Speaker 1>primaries going on. Then you have a general election, and

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<v Speaker 1>so if you started doing probability math, I think you'd

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<v Speaker 1>calculate that the chance of Trump being elected are maybe

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<v Speaker 1>twenty or between having to get nominated and then having

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<v Speaker 1>to get past Hillary Clinton. I think the market probably

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<v Speaker 1>today we guess that Hillary Clinton is going to be

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<v Speaker 1>the next president, and I don't know that that's that threatening. Yes,

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<v Speaker 1>she has some different ideas, but she's a sensible, rational person.

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<v Speaker 1>But I think the other thing you alluded to that

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<v Speaker 1>the market is relying on is the gridlock in Washington

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<v Speaker 1>and the fact that it's unlikely that no matter who

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<v Speaker 1>gets elected, there's gonna be some massive policy shift. Uh.

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<v Speaker 1>Getting from Congress, Steve Redner, thank you so much. And

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<v Speaker 1>then Governor Romney you can speaking. This will be cover

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<v Speaker 1>Michael Barrow have full coverage of this UH through the

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<v Speaker 1>morning and into the afternoon. Is well onto Michigan and

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<v Speaker 1>then onto Florida. Look for the announcement of the ratners.

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<v Speaker 1>Gops are coming from the White House sometime in the

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<v Speaker 1>near in the near future. Futures negative to down, futures

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<v Speaker 1>negative ten UH West Texas thirty four barrel. Let's spring

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<v Speaker 1>in Michael bar and get the latest news. Like Mike

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<v Speaker 1>tom thank you very much. Former Republican presidential nominee mid

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<v Speaker 1>Romney plans to deliver some strong words against Donald Trump.

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<v Speaker 1>Romney plans to call Trump in a speech later today

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<v Speaker 1>a phony and a fraud. The former Massachusetts governor says

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<v Speaker 1>Trump is playing the American public for suckers. The excerpts

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<v Speaker 1>are from the speech Romney plans to give later today

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<v Speaker 1>at the University of Utah in the bids who dis

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<v Speaker 1>launched Trump from the top of the Republican Party's presidential race. Meanwhile,

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<v Speaker 1>Trump fired back on ABC. Trump called Romney a failed

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<v Speaker 1>candidate and should have beaten Barack Obama. Millions of people

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<v Speaker 1>are joining the Republican Party because of me, and you

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<v Speaker 1>know what the republic establishment. Republican Establishment's probably going to

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<v Speaker 1>give it right back and go back to the old

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<v Speaker 1>days of Mitt Romney, who couldn't win. Trump will take

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<v Speaker 1>part in tonight's Republican presidential debate on Fox News. Only

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<v Speaker 1>four podiums will be on the stage tonight for the

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<v Speaker 1>debate in Detroit. Ben Carson issued a statement yesterday saying

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<v Speaker 1>he does not see a political path forward and will

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<v Speaker 1>be on No Show. South Korean officials say North Korea

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<v Speaker 1>fired six short range projectiles into the sea off its

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<v Speaker 1>east coast today. The launches came hours after the UN

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<v Speaker 1>Security Council approved tough sanctions on pyong Yang for its

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<v Speaker 1>recent nuclear tests. Global News twenty four hours a day,

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<v Speaker 1>powered by our journalists more than a hundred fifty news

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<v Speaker 1>bureaus from around the world. I Michael Barn, Mike Tom,

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<v Speaker 1>Thank you Michael all the time. Now for the Bloomberg

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<v Speaker 1>NBC sports update. Here's johns Teshi my greater that the

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<v Speaker 1>flake gate is back. Oral arguments today in New York

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<v Speaker 1>as the NFL appeals to a three judge panel. It's

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<v Speaker 1>lost last year in district corps. If balls were deflated,

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<v Speaker 1>and if so, how not really the issue here, the

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<v Speaker 1>NFL will argue Commissioner Roger Goodell had the collectively bargained

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<v Speaker 1>right to suspend Tom Brady for four games. The Union

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<v Speaker 1>will contend the NFL made mistakes in its application. Neither

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<v Speaker 1>Goodell or Brady will be in court, and decision could

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<v Speaker 1>be many months away. The Yankees exhibition opener in Tampa

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<v Speaker 1>was a wild one. Yankster down seven nothing ended up

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<v Speaker 1>winning ten to nine in a drop fly ball in

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<v Speaker 1>the ninth inning. Manitor Joe Girardi was asked about the

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<v Speaker 1>month long suspension just given to his new closure or

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<v Speaker 1>old As Chapman for domestic violence and use of a firearm.

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<v Speaker 1>The thing to do when you have issues like this

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<v Speaker 1>is to learn from him and try to be there

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<v Speaker 1>for people. And I think he's ready to move on.

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<v Speaker 1>And then he took responsibility for what happened, and he

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<v Speaker 1>wants to be better as a as a player and

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<v Speaker 1>a person. Chapman could pitch in spring training, but now

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<v Speaker 1>in the regular season until May ninth. Yankees and Phillies

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<v Speaker 1>today and the Mets opened up with the Nationals March

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<v Speaker 1>Madness Conference tournaments underway in the Northeast Winds for l

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<v Speaker 1>I youth fairly Dickinson and the top scene Wagner St.

0:09:59.440 --> 0:10:02.439
<v Speaker 1>Francis was nounsday in America East top seed stony Brook

0:10:02.760 --> 0:10:05.160
<v Speaker 1>moves on and gets help when second seed and three

0:10:05.160 --> 0:10:07.760
<v Speaker 1>times defending lenk jamp All, but he got upset. Seaton

0:10:07.800 --> 0:10:09.959
<v Speaker 1>All's four game Winsbay came to an end at butler

0:10:10.840 --> 0:10:14.120
<v Speaker 1>Fordham beat Ducane. Rutgers still winless in the Big Ten,

0:10:14.559 --> 0:10:16.880
<v Speaker 1>had to play second rank Michigan State and lost by

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<v Speaker 1>thirty one. With the Bloomberg game, be some sports update,

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<v Speaker 1>I'm John Stash John, thanks so much. A future is

0:10:23.000 --> 0:10:26.280
<v Speaker 1>thinking of two deaf futures at negative thirteen again a

0:10:26.440 --> 0:10:29.240
<v Speaker 1>churn all in all to the market. You really gotta

0:10:29.280 --> 0:10:33.520
<v Speaker 1>believe we're slotted into a job's day move. As we

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<v Speaker 1>moved to eight thirty tomorrow morning, Alan Krueger and Bill

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<v Speaker 1>Gross will join us UH to review that data. I've

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<v Speaker 1>got to scroll down here to get to a thousand

0:10:42.640 --> 0:10:44.960
<v Speaker 1>is the final sample. We make it a tick on

0:10:45.120 --> 0:10:48.400
<v Speaker 1>that here as we get to tomorrow, U with the

0:10:48.480 --> 0:10:53.520
<v Speaker 1>unemployment rates similar four point nine per cent. Michael McKee

0:10:53.520 --> 0:11:01.680
<v Speaker 1>and Tom Keene coast to coast worldwide Bloomberg surveillance Blieberg

0:11:01.720 --> 0:11:03.880
<v Speaker 1>surveillance is brought to you by NYCB as about their

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