1 00:00:02,960 --> 00:00:10,640 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,640 --> 00:00:14,600 Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at 3 00:00:14,600 --> 00:00:17,239 Speaker 1: noon Eastern on Applecarplay and then roun Otto with the 4 00:00:17,280 --> 00:00:21,239 Speaker 1: Bloomberg Business App. Listen on demand wherever you get your podcasts, 5 00:00:21,400 --> 00:00:25,400 Speaker 1: or watch us live on YouTube. 6 00:00:25,840 --> 00:00:29,200 Speaker 2: Welcome to the fastest show in politics. This is kind 7 00:00:29,200 --> 00:00:32,600 Speaker 2: of like the old days, Remember the fastest hour in politics. 8 00:00:32,640 --> 00:00:34,879 Speaker 2: That's what we have today. As we hand things off 9 00:00:34,920 --> 00:00:38,120 Speaker 2: to our colleagues a little early today at Bloomberg Business Week. 10 00:00:38,400 --> 00:00:41,760 Speaker 2: It is the tenth of October and we're tracking Milton 11 00:00:41,840 --> 00:00:46,280 Speaker 2: along with the candidates here as always, the President getting 12 00:00:46,320 --> 00:00:48,960 Speaker 2: his daily brief today and being brief throughout the day 13 00:00:49,040 --> 00:00:52,519 Speaker 2: on Hurricane Milton. With the storyline here could have been 14 00:00:52,560 --> 00:00:56,000 Speaker 2: a lot worse, certainly according to people on the ground. 15 00:00:56,120 --> 00:00:59,240 Speaker 2: There are still a lot of issues to deal with though, 16 00:00:59,280 --> 00:01:01,840 Speaker 2: more than three minute million people without power of storm 17 00:01:01,840 --> 00:01:05,520 Speaker 2: serves that has left floodwaters in many places contaminated. A 18 00:01:05,560 --> 00:01:08,800 Speaker 2: real issue today as rescue crews start their work here, 19 00:01:08,840 --> 00:01:11,920 Speaker 2: the storm is blasting out into the Atlantic, and we 20 00:01:12,000 --> 00:01:15,039 Speaker 2: have Lauren Rosenthal back with us. Has been an indispensable 21 00:01:15,120 --> 00:01:19,160 Speaker 2: voice since we first heard the word Helene. Now we've 22 00:01:19,200 --> 00:01:22,280 Speaker 2: added the name Milton. She is Bloomberg's weather reporter, and 23 00:01:22,360 --> 00:01:25,160 Speaker 2: Lauren joins us from world headquarters in New York, so 24 00:01:25,200 --> 00:01:27,679 Speaker 2: it's made its way across the state here. Lauren, how 25 00:01:27,680 --> 00:01:29,520 Speaker 2: would you describe the impact of this storm. 26 00:01:30,080 --> 00:01:32,120 Speaker 3: We knew that there would be a lot of water 27 00:01:32,200 --> 00:01:34,440 Speaker 3: and a lot of flooding from Hurricane Milton, and that 28 00:01:34,480 --> 00:01:38,039 Speaker 3: has definitely turned out to be the case. While storm 29 00:01:38,040 --> 00:01:40,679 Speaker 3: surge estimates are still rolling in and it's going to 30 00:01:40,720 --> 00:01:44,360 Speaker 3: take some time because you know, readings are difficult to confirm. 31 00:01:44,600 --> 00:01:46,560 Speaker 3: They'll have to get crews out to look at high 32 00:01:46,600 --> 00:01:49,320 Speaker 3: water marks on some buildings. It looks like surge was 33 00:01:49,360 --> 00:01:52,640 Speaker 3: about five to eight feet in the Tampa Bay area. 34 00:01:52,760 --> 00:01:55,320 Speaker 3: That is a lot of water. Has caused a lot 35 00:01:55,360 --> 00:01:58,280 Speaker 3: of localized flooding. And we also saw record breaking one 36 00:01:58,360 --> 00:02:01,520 Speaker 3: day rainfall from Hurricane Milk, and yesterday more than eighteen 37 00:02:01,600 --> 00:02:04,720 Speaker 3: inches of rain fell at an airport in Saint Petersburg. 38 00:02:05,160 --> 00:02:08,400 Speaker 3: That beats the existing record by more than half a foot. 39 00:02:08,919 --> 00:02:11,520 Speaker 3: So there is a lot of water. You know, it's 40 00:02:11,560 --> 00:02:14,840 Speaker 3: complicating efforts to get to people to see how communities 41 00:02:14,840 --> 00:02:17,720 Speaker 3: are doing, to try to start assessing the damage and 42 00:02:17,720 --> 00:02:20,800 Speaker 3: then figuring out where to go next to see. 43 00:02:20,600 --> 00:02:24,800 Speaker 2: The roof torn off Tropicana Field was pretty remarkable. Some 44 00:02:24,840 --> 00:02:27,360 Speaker 2: of the optics here. But the narrative, and you can 45 00:02:27,400 --> 00:02:30,359 Speaker 2: tell me if this is even fair, Lauren, is that 46 00:02:30,400 --> 00:02:34,320 Speaker 2: the state managed to avoid a worst case scenario. Is 47 00:02:34,320 --> 00:02:34,720 Speaker 2: that true? 48 00:02:35,639 --> 00:02:38,239 Speaker 3: That's definitely what we're hearing from. I think it was 49 00:02:38,280 --> 00:02:43,480 Speaker 3: Governor Ron De Santis said that at a briefing this morning. Yeah, 50 00:02:43,560 --> 00:02:47,200 Speaker 3: you know, there was the potential for significantly higher surge. 51 00:02:47,280 --> 00:02:50,119 Speaker 3: There was a real concern that Tampa Bay would see 52 00:02:50,120 --> 00:02:53,280 Speaker 3: its first direct hit from a landfalling hurricane in more 53 00:02:53,320 --> 00:02:56,960 Speaker 3: than a century, which would have caused catastrophic damage, you know, 54 00:02:57,000 --> 00:02:59,200 Speaker 3: in a region that's home to more than three million people. 55 00:02:59,240 --> 00:03:04,720 Speaker 3: The storm hit slightly further south, obviously, as some emergency 56 00:03:04,720 --> 00:03:08,639 Speaker 3: managers told me even before landfall. You know, if Tampa 57 00:03:08,760 --> 00:03:11,720 Speaker 3: is spared a direct hit, it is still really bad 58 00:03:11,760 --> 00:03:14,320 Speaker 3: for someone else. And I think that's still what we'll 59 00:03:14,360 --> 00:03:16,320 Speaker 3: be seeing over the coming days. This is going to 60 00:03:16,320 --> 00:03:19,840 Speaker 3: be a complicated recovery, especially on the heels of Hurricane 61 00:03:19,840 --> 00:03:21,600 Speaker 3: Helene just two weeks ago. 62 00:03:23,360 --> 00:03:26,320 Speaker 2: Understood, and it's a really important point that you that 63 00:03:26,360 --> 00:03:30,000 Speaker 2: you make. The National Hurricane Center says, as of at 64 00:03:30,080 --> 00:03:33,359 Speaker 2: least the update one hour ago, that Milton could still 65 00:03:33,400 --> 00:03:37,720 Speaker 2: cause quote considerable urban flooding unquote in some areas, as 66 00:03:37,760 --> 00:03:40,520 Speaker 2: additional rainfalls on a swath of the state between Orlando 67 00:03:40,600 --> 00:03:43,120 Speaker 2: and Jacksonville. Laura, and how how worried should we be 68 00:03:43,200 --> 00:03:44,160 Speaker 2: about what's left here? 69 00:03:44,640 --> 00:03:47,640 Speaker 3: I definitely think, you know, the risk is not over. 70 00:03:48,240 --> 00:03:51,040 Speaker 3: You know, Milton is a very large storm now. Its 71 00:03:51,080 --> 00:03:54,680 Speaker 3: tropical storm force winds extend for more than three hundred miles. 72 00:03:54,720 --> 00:03:59,240 Speaker 3: So even though Milton's eye is close to pushing back 73 00:03:59,280 --> 00:04:03,120 Speaker 3: out over the over the open ocean, it's winds and 74 00:04:03,400 --> 00:04:05,920 Speaker 3: rain are still going to leave lingering effects for the 75 00:04:05,960 --> 00:04:08,160 Speaker 3: eastern coast of Florida. They're definitely not out of the 76 00:04:08,200 --> 00:04:12,160 Speaker 3: woods yet. The Hurricane Center is advising people to please 77 00:04:12,200 --> 00:04:17,240 Speaker 3: pay attention to local flood warnings, to be careful with 78 00:04:17,320 --> 00:04:21,360 Speaker 3: those winds. Eighty miles an hour right now. Top sustained 79 00:04:21,360 --> 00:04:24,599 Speaker 3: winds in higher gusts possible. It's definitely not something you 80 00:04:25,320 --> 00:04:26,119 Speaker 3: want to take lightly. 81 00:04:27,880 --> 00:04:30,560 Speaker 2: Thank you so much, Lauren. Lauren Rosenthal Bloomberg Weather Report 82 00:04:30,600 --> 00:04:32,560 Speaker 2: are doing great work for us here to keep tabs 83 00:04:32,960 --> 00:04:35,800 Speaker 2: on this storm. It's not over yet. A boil water 84 00:04:35,920 --> 00:04:39,120 Speaker 2: notice issued. I see clearly here in Saint Petersburg due 85 00:04:39,160 --> 00:04:42,840 Speaker 2: to water main breaks from Hurricane Milton. A city wide 86 00:04:42,960 --> 00:04:46,000 Speaker 2: boil water notice is now in effect for Saint Peter's 87 00:04:46,040 --> 00:04:50,000 Speaker 2: purg Gulf Port, South Pasadena. Lielman, this is the case 88 00:04:51,560 --> 00:04:54,279 Speaker 2: all around a large swath of the Gulf Coast of Florida 89 00:04:54,279 --> 00:04:56,680 Speaker 2: where clean water is going to be an issue. A 90 00:04:56,680 --> 00:04:59,680 Speaker 2: lot of the floodwaters have been contaminated by sewage. So 91 00:04:59,720 --> 00:05:03,080 Speaker 2: we've got got a power situation, a water situation for 92 00:05:03,160 --> 00:05:04,920 Speaker 2: at least those who have been left behind, and they 93 00:05:04,920 --> 00:05:09,440 Speaker 2: include Kathy Caster, the Democrat from Florida's fourteenth district. The 94 00:05:09,440 --> 00:05:11,880 Speaker 2: congresswoman was with us ahead of the storm and is 95 00:05:11,920 --> 00:05:14,400 Speaker 2: back with us now on the line having lost power 96 00:05:14,680 --> 00:05:17,960 Speaker 2: with more than three million people out. Congresswoman, I thank 97 00:05:18,000 --> 00:05:20,960 Speaker 2: you for making the time to talk to us today 98 00:05:21,360 --> 00:05:23,880 Speaker 2: in the throes of the recovery of this storm. Can 99 00:05:23,960 --> 00:05:25,760 Speaker 2: you just give us the lay of the land where 100 00:05:25,800 --> 00:05:26,360 Speaker 2: you are now? 101 00:05:27,640 --> 00:05:30,599 Speaker 4: Yeah, thank you, Joe. This is a harsh double whammage, 102 00:05:31,600 --> 00:05:36,520 Speaker 4: Hurricane Helene then Hurricane Milton within two weeks. That so 103 00:05:37,080 --> 00:05:40,200 Speaker 4: we're grappling with the short term challenges that you've mentioned 104 00:05:40,320 --> 00:05:46,080 Speaker 4: power outages, fuel shortages, critical infrastructure, water and wastewater that 105 00:05:46,680 --> 00:05:51,520 Speaker 4: need to be repaired. But I'll tell you the long 106 00:05:51,680 --> 00:05:54,920 Speaker 4: term economic harm to our way of life in Florida 107 00:05:55,040 --> 00:06:01,479 Speaker 4: also is going to be critical. We're already suffering property 108 00:06:01,520 --> 00:06:05,840 Speaker 4: insurance crisis. We pay the highest rates by far than 109 00:06:05,920 --> 00:06:09,800 Speaker 4: any place across the country. Electric bills have been out 110 00:06:09,839 --> 00:06:12,800 Speaker 4: of sight, and this is the new abnormal. I'm afraid 111 00:06:12,839 --> 00:06:17,880 Speaker 4: because of extreme hot temperatures an overheating Gulf of Mexico. 112 00:06:18,000 --> 00:06:22,280 Speaker 4: It's my fear that this will become routine. So what 113 00:06:22,320 --> 00:06:26,159 Speaker 4: I'll be looking for in a disaster supplemental in Congress 114 00:06:26,760 --> 00:06:28,679 Speaker 4: is safeguarding taxpayer dollars. 115 00:06:28,760 --> 00:06:29,159 Speaker 2: Build it. 116 00:06:29,200 --> 00:06:32,320 Speaker 4: When we build back, do it in a more resilient way, 117 00:06:32,520 --> 00:06:35,640 Speaker 4: do it in a smarter way. For example, McDill air 118 00:06:35,640 --> 00:06:39,920 Speaker 4: Force Space is a critical economic engine here. They've had 119 00:06:40,000 --> 00:06:42,359 Speaker 4: some flooding. How do we safeguard the missions at the 120 00:06:42,400 --> 00:06:46,400 Speaker 4: base safe? Same thing for our Coastguard Air station and 121 00:06:46,560 --> 00:06:50,320 Speaker 4: clear water, and then the City of Tampa Kinells County 122 00:06:50,360 --> 00:06:53,280 Speaker 4: all of our water and wastewater rebuilding. We're going to 123 00:06:53,360 --> 00:06:54,920 Speaker 4: have to be smarter about how we'll do it. 124 00:06:56,080 --> 00:06:58,240 Speaker 2: Well, that's you just said a lot kid with someone. 125 00:06:58,279 --> 00:07:00,520 Speaker 2: I want to unpack some of the things that you 126 00:07:00,640 --> 00:07:02,159 Speaker 2: just said, if you can bear with me through a 127 00:07:02,160 --> 00:07:05,719 Speaker 2: couple of questions here. We understand that swift water teams 128 00:07:06,120 --> 00:07:10,200 Speaker 2: were active overnight and have continued with water rescues this morning. 129 00:07:10,240 --> 00:07:13,720 Speaker 2: Do those continue now? Are we getting beyond the rescue 130 00:07:13,760 --> 00:07:20,800 Speaker 2: phase of this operation? I think we may have lost 131 00:07:20,840 --> 00:07:23,640 Speaker 2: the congress woman. Can you hear me, congress Woman Caster, 132 00:07:24,920 --> 00:07:28,239 Speaker 2: I can hear you now, got you? Are there still 133 00:07:28,400 --> 00:07:29,760 Speaker 2: water rescues underway? 134 00:07:29,800 --> 00:07:29,960 Speaker 5: Now? 135 00:07:30,000 --> 00:07:32,240 Speaker 2: We know that swift boat teams were out overnight. 136 00:07:33,840 --> 00:07:38,320 Speaker 4: Yes, there are. There's one assisted living facility in Northampa 137 00:07:38,360 --> 00:07:41,240 Speaker 4: near the University of South Florida where they are sending 138 00:07:41,240 --> 00:07:45,400 Speaker 4: school buses over to get folks out. Because this was 139 00:07:45,480 --> 00:07:48,920 Speaker 4: much more of a rain event. There are places that 140 00:07:49,520 --> 00:07:52,400 Speaker 4: maybe they didn't flood during Helene. That was a coastal 141 00:07:52,480 --> 00:07:55,960 Speaker 4: flood surge event. So this is a real double whammy, 142 00:07:56,080 --> 00:07:59,560 Speaker 4: and the first course of business is making sure everyone 143 00:07:59,640 --> 00:08:03,880 Speaker 4: is is safe. Many that's a saving grace. They went 144 00:08:03,920 --> 00:08:07,880 Speaker 4: to shelters, they left the evacuation zones, and I think 145 00:08:07,920 --> 00:08:10,880 Speaker 4: that's why the loss of life is going to be 146 00:08:11,040 --> 00:08:13,760 Speaker 4: minimal here in the Tampa Bay area, But I really 147 00:08:13,800 --> 00:08:17,200 Speaker 4: feel for the folks who had to deal with these 148 00:08:17,600 --> 00:08:20,280 Speaker 4: outrageous tornadoes on the eastern side of the state. 149 00:08:21,640 --> 00:08:24,840 Speaker 2: It's very scary stuff. A congresswoman, we're showing our viewers 150 00:08:24,920 --> 00:08:29,840 Speaker 2: images of Tropicana Field, which is now convertible after last 151 00:08:29,920 --> 00:08:33,200 Speaker 2: night we saw actual rain water on the grass in 152 00:08:33,280 --> 00:08:35,959 Speaker 2: the park here. You mentioned people in shelters. There are 153 00:08:35,960 --> 00:08:39,600 Speaker 2: more than seventy thousand in government shelters now that stadium 154 00:08:39,679 --> 00:08:41,680 Speaker 2: was supposed to be one of them. Does Florida have 155 00:08:41,800 --> 00:08:44,480 Speaker 2: room for everyone? We do. 156 00:08:44,640 --> 00:08:48,920 Speaker 4: A lot of our public schools are converted over to shelters. 157 00:08:48,920 --> 00:08:52,120 Speaker 4: But I think a serious long term issue will be 158 00:08:52,640 --> 00:08:55,680 Speaker 4: the tens of thousands of my neighbors who were flooded 159 00:08:55,679 --> 00:08:59,840 Speaker 4: out by Hurricane Helene. And where are they going to go? 160 00:09:00,040 --> 00:09:03,439 Speaker 4: They have all of their their lives out on the 161 00:09:03,520 --> 00:09:06,280 Speaker 4: in their front yards. They tried to collect as much free, 162 00:09:06,360 --> 00:09:08,320 Speaker 4: but where where are we going to house them? And 163 00:09:08,360 --> 00:09:12,520 Speaker 4: thank goodness, FEMA is here delivering the disaster aid into 164 00:09:12,520 --> 00:09:17,360 Speaker 4: people's bank accounts that they need. I've heard of thousands 165 00:09:17,400 --> 00:09:19,680 Speaker 4: of dollars going into people's bank accounts to make sure 166 00:09:19,720 --> 00:09:23,400 Speaker 4: that they can relocate pay rent and get us the 167 00:09:23,440 --> 00:09:24,360 Speaker 4: assistance they need. 168 00:09:25,679 --> 00:09:28,920 Speaker 2: Well, that's awfully important based on some of the misinformation 169 00:09:29,040 --> 00:09:31,800 Speaker 2: that surrounded the response to Hurricane Helene. You can tell 170 00:09:31,880 --> 00:09:34,280 Speaker 2: us then that FEMA is on the ground and is 171 00:09:34,360 --> 00:09:37,040 Speaker 2: active now on this day after the storm. 172 00:09:38,360 --> 00:09:41,840 Speaker 4: Yes, they were, They were active in the days after Helene. 173 00:09:42,840 --> 00:09:46,800 Speaker 4: FEAMA Administrator Dan Chriswell was here last week talking with 174 00:09:47,160 --> 00:09:50,560 Speaker 4: Mayor Castor Tampa, Mayor Welch of Saint Petersburg. She's going 175 00:09:50,600 --> 00:09:53,959 Speaker 4: to be back. President Biden is checking in with all 176 00:09:54,000 --> 00:09:57,640 Speaker 4: of US. Vice President Harris. This is a this is 177 00:09:57,920 --> 00:10:01,199 Speaker 4: an unprecedented response I've seen by THEEMA of the largest 178 00:10:01,240 --> 00:10:05,080 Speaker 4: mobilization in recent history, and we're gonna need it. We're 179 00:10:05,080 --> 00:10:08,720 Speaker 4: going to need everyone's help to rebuild and do it 180 00:10:08,760 --> 00:10:11,320 Speaker 4: in a smarter way and take care of our neighbors. 181 00:10:12,600 --> 00:10:16,520 Speaker 2: We're spending time talking with Congresswoman Kathy cast who represents 182 00:10:16,559 --> 00:10:19,600 Speaker 2: Florida's fourteenth district that includes the Tampa Bay area, and 183 00:10:19,640 --> 00:10:21,640 Speaker 2: she's on the phone right now because she has no 184 00:10:21,760 --> 00:10:26,160 Speaker 2: power like three million other people in that part of Florida. Congresswoman, 185 00:10:26,360 --> 00:10:30,120 Speaker 2: you mentioned funding for FEMA. We understand the agency does 186 00:10:30,160 --> 00:10:33,439 Speaker 2: have enough money for the Individual Assistance Program, but there 187 00:10:33,440 --> 00:10:36,560 Speaker 2: are some worries about the SBA not being able to 188 00:10:36,559 --> 00:10:39,400 Speaker 2: help businesses turn the lights back on. You mentioned the 189 00:10:39,440 --> 00:10:42,920 Speaker 2: possibility of a supplemental or an emergency request, and I 190 00:10:42,960 --> 00:10:47,760 Speaker 2: saw a posting on Twitter from your Republican colleague in 191 00:10:47,840 --> 00:10:52,920 Speaker 2: the House, Annapolina Luna of all People, Congresswoman. It looks 192 00:10:52,960 --> 00:10:55,240 Speaker 2: like she is working with President Biden. Here she says 193 00:10:55,320 --> 00:10:58,319 Speaker 2: he is personally overseeing that FEMA does not create problems 194 00:10:58,600 --> 00:11:02,440 Speaker 2: with debris removal and is supportive of fifteen billion in 195 00:11:02,559 --> 00:11:06,320 Speaker 2: FEMA funds only for hurricane victims. It sounds like the 196 00:11:06,360 --> 00:11:09,600 Speaker 2: Florida delegation is working with the administration on this. What 197 00:11:09,600 --> 00:11:12,240 Speaker 2: can you tell us. 198 00:11:11,520 --> 00:11:17,040 Speaker 4: It is going to take a bipartisan, cooperative response to 199 00:11:17,080 --> 00:11:20,760 Speaker 4: get the disaster supplemental that we need. I don't think 200 00:11:20,800 --> 00:11:23,320 Speaker 4: fifteen billion is going to cover everything that we're going 201 00:11:23,400 --> 00:11:28,559 Speaker 4: to need for Florida, Georgia, South Carolina, and North Carolina especially, 202 00:11:28,640 --> 00:11:31,760 Speaker 4: But okay, yes, we're going to need those SBA funds. 203 00:11:31,800 --> 00:11:35,679 Speaker 4: They're very important for business and individuals to rebuild over 204 00:11:35,720 --> 00:11:38,640 Speaker 4: the long term. And then all of the critical water 205 00:11:38,800 --> 00:11:42,600 Speaker 4: wastewater infrastructure is going to have a price tag to it. 206 00:11:43,920 --> 00:11:47,400 Speaker 2: Anna Paulina Luna writing on ex Congresswoman, this needs to happen. 207 00:11:47,480 --> 00:11:51,440 Speaker 2: Speaker Johnson call us back. Is that the case? And 208 00:11:51,480 --> 00:11:53,680 Speaker 2: have you heard from leadership about this yet? 209 00:11:55,280 --> 00:11:57,720 Speaker 4: I haven't heard from Republican leadership, but I just got 210 00:11:57,760 --> 00:12:02,679 Speaker 4: off the phone with the lead Democrat from Rosa Delaro 211 00:12:02,800 --> 00:12:06,960 Speaker 4: of Connecticut, who is asking for us to be working 212 00:12:07,000 --> 00:12:13,440 Speaker 4: with our local and federal partner track of the harm 213 00:12:13,679 --> 00:12:16,360 Speaker 4: and the damages here so that we can get things 214 00:12:16,440 --> 00:12:20,040 Speaker 4: rebuilt as quickly as possible. But this is going to 215 00:12:20,040 --> 00:12:22,440 Speaker 4: be job one for the Congress when we come back, 216 00:12:22,480 --> 00:12:25,240 Speaker 4: and it's and as I said, if we're going to 217 00:12:25,320 --> 00:12:29,240 Speaker 4: safeguard the taxpayer dollars, we have to rebuild in a 218 00:12:29,240 --> 00:12:33,160 Speaker 4: more resilient way in our energy systems, our water systems, 219 00:12:33,640 --> 00:12:37,440 Speaker 4: and where we allow development to. 220 00:12:40,880 --> 00:12:43,000 Speaker 2: Hopefully you're still with us, Congressman. I know that there's 221 00:12:43,040 --> 00:12:45,280 Speaker 2: a lot of demand on the cell phone infrastructure in 222 00:12:45,320 --> 00:12:48,560 Speaker 2: Florida right now without power especially, can you still hear us, Congresswoman? 223 00:12:49,559 --> 00:12:49,880 Speaker 4: I can? 224 00:12:50,960 --> 00:12:53,079 Speaker 2: Okay, great, I'll ask you lastly, and you've been very 225 00:12:53,080 --> 00:12:55,560 Speaker 2: generous with your time, that there was an executive order 226 00:12:55,640 --> 00:13:00,760 Speaker 2: issued by Governor Ron DeSantis allowing elections supervisors to consolidate 227 00:13:00,840 --> 00:13:05,319 Speaker 2: voting centers or relocate them if they're flooded or destroyed, 228 00:13:05,760 --> 00:13:08,720 Speaker 2: easing some rules as well for mail in ballots. Is 229 00:13:08,880 --> 00:13:12,400 Speaker 2: enough being done to help people access ballots as early 230 00:13:12,520 --> 00:13:14,120 Speaker 2: voting continues ahead. 231 00:13:13,880 --> 00:13:17,800 Speaker 4: Of November, this is going to be a primary focus, Joe, 232 00:13:17,800 --> 00:13:23,520 Speaker 4: because in Hillsborough County vote by mail ballots arrived in 233 00:13:23,600 --> 00:13:27,480 Speaker 4: mailboxes last Saturday, So if you had been flooded out 234 00:13:27,520 --> 00:13:31,199 Speaker 4: of your home like tens of thousands were during Helene, 235 00:13:31,320 --> 00:13:34,200 Speaker 4: I'm not sure you received that ballot. So we're going 236 00:13:34,280 --> 00:13:36,640 Speaker 4: to need a lot of flexibility. But right now it's 237 00:13:37,320 --> 00:13:40,440 Speaker 4: I think it's making sure everyone is safe. And then 238 00:13:40,800 --> 00:13:43,600 Speaker 4: there'll be plenty of times for elections, but will need 239 00:13:43,640 --> 00:13:46,280 Speaker 4: the extra time and extra flexibility for sure. 240 00:13:47,760 --> 00:13:50,160 Speaker 2: I can't thank you enough for giving us your time, 241 00:13:50,200 --> 00:13:52,960 Speaker 2: Congress On, I'm sure you're hearing not only from constituents 242 00:13:53,000 --> 00:13:55,840 Speaker 2: but family and friends, and I appreciate your time today. 243 00:13:55,920 --> 00:13:59,599 Speaker 2: Kathy cast Florida's fourteenth district, of course, right where the 244 00:13:59,640 --> 00:14:02,760 Speaker 2: hurricane went through in the wee hours of this morning 245 00:14:02,840 --> 00:14:06,080 Speaker 2: late last night. In fact, a congresswoman caster has no power, 246 00:14:06,120 --> 00:14:07,920 Speaker 2: which is why she was on the line with us, 247 00:14:08,280 --> 00:14:11,679 Speaker 2: and we appreciate the insights here. I'm Joe Matthew in Washington. 248 00:14:11,679 --> 00:14:13,800 Speaker 2: Glad you're with us today on balance of power as 249 00:14:13,800 --> 00:14:16,600 Speaker 2: we gauge the aftermath of this storm, the political impacts, 250 00:14:16,640 --> 00:14:20,000 Speaker 2: of course, the economic impacts as well. On this CPI day, 251 00:14:20,040 --> 00:14:23,440 Speaker 2: there are some concerns about the potential for inflation and 252 00:14:23,520 --> 00:14:27,000 Speaker 2: things like fertilizer and other items that are made in 253 00:14:27,120 --> 00:14:29,640 Speaker 2: the storm path. I will mention as well. The White 254 00:14:29,640 --> 00:14:33,480 Speaker 2: House has just added some remarks from the President who's 255 00:14:33,520 --> 00:14:36,200 Speaker 2: being briefed we're told throughout the day to day from 256 00:14:36,280 --> 00:14:39,840 Speaker 2: FEMA officials. Two pm Eastern time, Joe Biden will deliver 257 00:14:39,960 --> 00:14:43,480 Speaker 2: remarks on the initial impacts of Milton. I'm just reading 258 00:14:43,520 --> 00:14:46,840 Speaker 2: directly from the White House schedule here that was just released. 259 00:14:46,840 --> 00:14:49,400 Speaker 2: He will talk as well about the ongoing support to 260 00:14:49,480 --> 00:14:52,480 Speaker 2: state and local officials. Will do that from the old 261 00:14:52,480 --> 00:14:55,400 Speaker 2: Executive Office building next door across the driveway from the 262 00:14:55,440 --> 00:14:58,000 Speaker 2: West Wing. We'll have ears on that for you. Our 263 00:14:58,080 --> 00:15:00,880 Speaker 2: panel is on the way in next Davis and Genie 264 00:15:00,880 --> 00:15:04,480 Speaker 2: Shanzano this day after the storm, on the fastest hour 265 00:15:04,560 --> 00:15:08,040 Speaker 2: in politics. Glad you're with us. I'm Joe Matthew and Washington. 266 00:15:08,080 --> 00:15:09,120 Speaker 2: This is Bloomberg. 267 00:15:12,400 --> 00:15:15,800 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Kench 268 00:15:15,880 --> 00:15:18,920 Speaker 1: just live weekdays at noon Eastern on Applecarplay and then 269 00:15:19,000 --> 00:15:21,600 Speaker 1: ron Oo with the Bloomberg Business App. You can also 270 00:15:21,680 --> 00:15:25,160 Speaker 1: listen live on Amazon Alexa from our flagship New York station, 271 00:15:25,560 --> 00:15:28,600 Speaker 1: Just say Alexa Play Bloomberg eleven thirty. 272 00:15:30,560 --> 00:15:35,560 Speaker 2: CPI Day. Charlie Pellett with the deep tease. Yeah, Molly 273 00:15:35,640 --> 00:15:38,160 Speaker 2: Smith is coming in. You heard the words, he said, 274 00:15:38,560 --> 00:15:41,760 Speaker 2: higher than expected and that's kind of all you need 275 00:15:41,800 --> 00:15:44,080 Speaker 2: to know today if you're paying attention to that job 276 00:15:44,120 --> 00:15:47,640 Speaker 2: support last week. Now everybody, all the naysayers have a 277 00:15:47,680 --> 00:15:50,160 Speaker 2: little more grist for the mill. And yes, Molly Smith 278 00:15:50,200 --> 00:15:52,520 Speaker 2: with us after an early morning editing the copy here 279 00:15:52,560 --> 00:15:55,760 Speaker 2: on the terminal and online. She's Bloomberg's economics editor. Molly. 280 00:15:55,760 --> 00:15:58,320 Speaker 2: It's great to see you. You connect the dots, and 281 00:15:58,360 --> 00:16:00,680 Speaker 2: you know, as journalists we like to try to reach 282 00:16:00,760 --> 00:16:03,600 Speaker 2: for a trend, and this is pouring a little bit 283 00:16:03,640 --> 00:16:06,840 Speaker 2: of cold water on the idea of winning the war 284 00:16:06,880 --> 00:16:09,160 Speaker 2: on inflation. But is that the case or does it 285 00:16:09,160 --> 00:16:11,840 Speaker 2: simply remind us that this doesn't move in a straight line. 286 00:16:12,080 --> 00:16:14,320 Speaker 6: Exactly. That's more of the takeaway that this is going 287 00:16:14,360 --> 00:16:16,920 Speaker 6: to be a bumpy path. We actually just heard New 288 00:16:17,000 --> 00:16:19,720 Speaker 6: York Fed President John Williams described that there were going 289 00:16:19,760 --> 00:16:21,960 Speaker 6: to be quote wiggles along the way. I thought that 290 00:16:22,000 --> 00:16:24,600 Speaker 6: was a fun way of describing it. So it's not 291 00:16:24,640 --> 00:16:27,280 Speaker 6: a straight line down. But that said, it does seem 292 00:16:27,320 --> 00:16:30,760 Speaker 6: to be that the fundamental drivers of disinflation are still intact, 293 00:16:30,760 --> 00:16:32,520 Speaker 6: and we got good news on that front, at least 294 00:16:32,720 --> 00:16:35,440 Speaker 6: in today's report showing that shelter costs, I mean, that's 295 00:16:35,480 --> 00:16:38,560 Speaker 6: really been the big one holding back the bigger progress. 296 00:16:38,720 --> 00:16:41,760 Speaker 6: That housing costs did moderate in September, so that was 297 00:16:42,880 --> 00:16:45,280 Speaker 6: very welcome to see. But of course you don't like 298 00:16:45,320 --> 00:16:47,560 Speaker 6: to see the things that flared up. You know, car 299 00:16:47,680 --> 00:16:51,359 Speaker 6: prices were a big one. Also saw apparel, car insurance, 300 00:16:52,320 --> 00:16:55,280 Speaker 6: stadium admissions for sporting events that tied in with the 301 00:16:55,280 --> 00:16:58,680 Speaker 6: start of the NFL season. So yeah, definitely a lot 302 00:16:58,680 --> 00:17:00,960 Speaker 6: of things there that I think think economists seemed to 303 00:17:01,000 --> 00:17:03,240 Speaker 6: be painting more is one offs and not so much 304 00:17:03,280 --> 00:17:06,160 Speaker 6: the big drivers of what's going to bring inflation down. 305 00:17:06,720 --> 00:17:09,800 Speaker 2: Okay, so that's good. We're not going to freak out today. 306 00:17:09,800 --> 00:17:11,720 Speaker 2: What do we learn about shelter prices this time. I 307 00:17:11,760 --> 00:17:13,240 Speaker 2: know that's something you've been watching closely. 308 00:17:13,480 --> 00:17:16,280 Speaker 6: Definitely, Yeah, this was really welcome to see that shelter 309 00:17:16,520 --> 00:17:18,840 Speaker 6: was up zero point two percent on the month, and 310 00:17:18,880 --> 00:17:21,439 Speaker 6: that's compared two point five percent in August, so a 311 00:17:21,480 --> 00:17:24,159 Speaker 6: really big step down there. The thing is, though a 312 00:17:24,160 --> 00:17:26,800 Speaker 6: lot of it was by hotel prices, which can be 313 00:17:26,880 --> 00:17:29,600 Speaker 6: really volatile from month to month, and people had actually 314 00:17:29,640 --> 00:17:33,000 Speaker 6: been expecting hotel prices to go up in September and 315 00:17:33,040 --> 00:17:35,639 Speaker 6: to see them fall was quite a big surprise. So 316 00:17:35,680 --> 00:17:38,920 Speaker 6: that dragged down the overall shelter measure. But the thing 317 00:17:38,920 --> 00:17:40,960 Speaker 6: that you really want to look at within shelter is 318 00:17:41,080 --> 00:17:43,560 Speaker 6: how people are, you know, their actual housing costs, not 319 00:17:43,640 --> 00:17:46,800 Speaker 6: just the hotel stays. So those ones were definitely more tame, 320 00:17:47,480 --> 00:17:50,399 Speaker 6: those rental measures. So was that was definitely good to 321 00:17:50,440 --> 00:17:50,960 Speaker 6: see today. 322 00:17:52,280 --> 00:17:54,160 Speaker 2: So the next question, of course, needs to be about 323 00:17:54,160 --> 00:17:55,959 Speaker 2: the FED, right, I was looking at writing from our 324 00:17:56,000 --> 00:17:59,520 Speaker 2: colleagues at Bloomberg Economicsannah Wong and Stuart Paul, despite the 325 00:17:59,600 --> 00:18:02,560 Speaker 2: upside surprise, they say, and this kind of echoes your point, 326 00:18:03,080 --> 00:18:05,880 Speaker 2: we do not think the report will alter the fomc's 327 00:18:05,960 --> 00:18:08,960 Speaker 2: view that inflation is on a down trend trajectory, So 328 00:18:09,000 --> 00:18:10,480 Speaker 2: what does that mean for rates going forward? 329 00:18:10,880 --> 00:18:12,960 Speaker 6: So it looks like, based on the trading in the 330 00:18:13,000 --> 00:18:15,920 Speaker 6: market today, that there's just more conviction for the November 331 00:18:16,000 --> 00:18:18,880 Speaker 6: meeting to be a twenty five basis point cut, which 332 00:18:19,160 --> 00:18:21,720 Speaker 6: was already moving in that direction after the strong jobs 333 00:18:21,720 --> 00:18:25,159 Speaker 6: report last week that you mentioned. Honestly, I'm I was 334 00:18:25,160 --> 00:18:27,360 Speaker 6: thinking there might be a bit more argument that there 335 00:18:27,359 --> 00:18:30,240 Speaker 6: could be some debate as to whether there's a pause 336 00:18:30,359 --> 00:18:33,480 Speaker 6: after these latest two data points that came in pretty strong. 337 00:18:33,520 --> 00:18:35,840 Speaker 6: But you also had jobless claims today rise to the 338 00:18:35,920 --> 00:18:39,680 Speaker 6: highest level in over a year. Definitely reflected some weakness 339 00:18:39,720 --> 00:18:42,600 Speaker 6: from Hurricane Helene in there, with claims in North Carolina 340 00:18:42,720 --> 00:18:45,400 Speaker 6: very high, but also a lot in Michigan. So might 341 00:18:45,400 --> 00:18:48,160 Speaker 6: be some more going on in the manufacturing sector there. 342 00:18:49,040 --> 00:18:51,760 Speaker 2: Gotcha great, Great to talk to Molly Smith. As always, 343 00:18:52,040 --> 00:18:54,359 Speaker 2: people get all worked up at eight thirty, right you 344 00:18:54,440 --> 00:18:57,840 Speaker 2: start calling in trades, everyone freaks out. Then you talk 345 00:18:57,920 --> 00:19:01,160 Speaker 2: to Molly. You reminded this will come up the next day. 346 00:19:01,200 --> 00:19:03,440 Speaker 2: Thank you, as always, Molly Smith in New York, Bloomberg 347 00:19:03,440 --> 00:19:06,439 Speaker 2: Economics Editor. As I remind you, now this is all 348 00:19:06,480 --> 00:19:09,800 Speaker 2: we're going to get this is it. September Consumer Price 349 00:19:09,840 --> 00:19:14,520 Speaker 2: Index report is the last one before the election, and 350 00:19:14,560 --> 00:19:17,280 Speaker 2: for that matter, before the next FED meeting, which is 351 00:19:17,440 --> 00:19:20,840 Speaker 2: at least it begins the day after the election. Our 352 00:19:20,880 --> 00:19:24,000 Speaker 2: signature panel is with us on this important economic day. 353 00:19:24,119 --> 00:19:26,880 Speaker 2: Rick Davis and Genie Shanzano are here, of course, both 354 00:19:26,880 --> 00:19:31,800 Speaker 2: Bloomberg Politics contributors. She is political science professor at Iona University. 355 00:19:31,840 --> 00:19:34,800 Speaker 2: He is a partner at stone Court Capital. So it's 356 00:19:34,840 --> 00:19:37,639 Speaker 2: an interesting moment here, Genie, this is all we're going 357 00:19:37,720 --> 00:19:40,280 Speaker 2: to get. There's no more debates. Donald Trump said just 358 00:19:40,400 --> 00:19:42,959 Speaker 2: yesterday he's not going to do it again with Kamala Harris, 359 00:19:43,320 --> 00:19:46,080 Speaker 2: and we're pretty much all out of the big economic data. 360 00:19:46,119 --> 00:19:47,880 Speaker 2: Is it time to start closing arguments? 361 00:19:49,280 --> 00:19:51,200 Speaker 5: Well, you know, and he not only said it, Joe, 362 00:19:51,240 --> 00:19:53,199 Speaker 5: as you know, he said it in all caps. So 363 00:19:53,359 --> 00:19:58,200 Speaker 5: I guess that means fair enough. Fine, No today, Maybe 364 00:19:58,200 --> 00:20:01,119 Speaker 5: he'll change his mind. But you know, I think, you know, 365 00:20:01,200 --> 00:20:04,560 Speaker 5: they are making something of closing arguments, but you just 366 00:20:04,600 --> 00:20:07,719 Speaker 5: got to underscore how important the news is today and 367 00:20:07,760 --> 00:20:11,960 Speaker 5: the economy is overall. I was really struck by the 368 00:20:12,040 --> 00:20:15,520 Speaker 5: latest Gallup pole which said that is the issue fifty 369 00:20:15,600 --> 00:20:19,560 Speaker 5: two percent of Americans agree on as the most important issue, 370 00:20:19,760 --> 00:20:24,359 Speaker 5: describing it as extremely important, another thirty eight saying very important. 371 00:20:24,440 --> 00:20:27,399 Speaker 5: So you're up in the eighty percent plus range of 372 00:20:27,440 --> 00:20:30,800 Speaker 5: Americans who say the economy is it for them when 373 00:20:30,800 --> 00:20:33,080 Speaker 5: they go in the polling booth. And so what that 374 00:20:33,240 --> 00:20:36,480 Speaker 5: means is in these closing statements, so to speak, they 375 00:20:36,640 --> 00:20:40,720 Speaker 5: better be focusing Harrison Trump on the economy and what 376 00:20:40,800 --> 00:20:43,679 Speaker 5: their plans are. That has got to be the number 377 00:20:43,760 --> 00:20:47,359 Speaker 5: one issue that they talk about. And so far, I 378 00:20:47,359 --> 00:20:49,479 Speaker 5: think the two of them have done that to a 379 00:20:49,480 --> 00:20:52,200 Speaker 5: certain extent. But you can't do it enough. So they've 380 00:20:52,240 --> 00:20:55,040 Speaker 5: got to get on this economic policy bandwagon. 381 00:20:56,440 --> 00:21:00,280 Speaker 2: It's a very important point that Genie makes here. That 382 00:21:00,359 --> 00:21:03,040 Speaker 2: gallup pulled out yesterday finds the economy is the number 383 00:21:03,080 --> 00:21:07,040 Speaker 2: one issue for both Republicans and Democrats. A majority of 384 00:21:07,080 --> 00:21:10,800 Speaker 2: voters put them together fifty two percent, with a pretty 385 00:21:10,800 --> 00:21:14,000 Speaker 2: start partisan divide. Rick On on the way you look 386 00:21:14,680 --> 00:21:17,840 Speaker 2: at the economy based on all the data, now we've 387 00:21:17,840 --> 00:21:20,600 Speaker 2: got what we're going to get. The snapshot of the 388 00:21:20,600 --> 00:21:25,359 Speaker 2: economy on the eve of this election favors whom look 389 00:21:25,440 --> 00:21:27,080 Speaker 2: I think that it. 390 00:21:27,119 --> 00:21:30,960 Speaker 7: Really it favors those who looking through the prism of 391 00:21:31,000 --> 00:21:33,120 Speaker 7: who you like for president. As you point out, if 392 00:21:33,119 --> 00:21:35,760 Speaker 7: you're a Republican, you think the economy is horrible, if 393 00:21:35,800 --> 00:21:37,680 Speaker 7: you think if you're a Democrat, you think the economy 394 00:21:37,720 --> 00:21:40,719 Speaker 7: is great. Now it helps that the news today, for instance, 395 00:21:40,760 --> 00:21:43,760 Speaker 7: on CPI is pretty good. It helps that this week 396 00:21:43,800 --> 00:21:49,200 Speaker 7: we've had a record you know, run up in the markets, 397 00:21:48,840 --> 00:21:54,720 Speaker 7: and so consumer attitudes are improving. But I would say, 398 00:21:54,880 --> 00:21:57,680 Speaker 7: if you're the Biden administration, if you're the Harris campaign, 399 00:21:58,040 --> 00:22:01,159 Speaker 7: you wanted to have seen a lot more improvement in 400 00:22:02,040 --> 00:22:04,879 Speaker 7: these metrics by now. How much of this is going 401 00:22:04,960 --> 00:22:08,840 Speaker 7: to seep in between now an election day? I really question, 402 00:22:09,000 --> 00:22:11,760 Speaker 7: because you have a lot of people voting today. They're 403 00:22:11,880 --> 00:22:14,479 Speaker 7: voting on the economy that they woke up to today, 404 00:22:15,000 --> 00:22:18,560 Speaker 7: and so do they feel better about it than they 405 00:22:18,600 --> 00:22:22,000 Speaker 7: did four years ago under Donald Trump? And I do 406 00:22:22,080 --> 00:22:24,840 Speaker 7: think one of the unique things in this election is 407 00:22:24,880 --> 00:22:28,600 Speaker 7: Donald Trump left office in twenty twenty with a thirty 408 00:22:28,880 --> 00:22:32,600 Speaker 7: five percent approval rating or something near there. Today he 409 00:22:32,760 --> 00:22:36,000 Speaker 7: has a fifty percent job approval rating as president. So 410 00:22:36,400 --> 00:22:39,200 Speaker 7: people have forgotten what they didn't like and have focus 411 00:22:39,280 --> 00:22:41,399 Speaker 7: on what they liked. So that's as much of what 412 00:22:41,440 --> 00:22:43,760 Speaker 7: they're battling as the economy itself. 413 00:22:44,840 --> 00:22:46,840 Speaker 2: So what do you think, Genie, The S and P 414 00:22:47,040 --> 00:22:52,280 Speaker 2: five hundred hit it's forty fourth record high of the 415 00:22:52,400 --> 00:22:56,320 Speaker 2: year yesterday. When you listen to what Rick Davis just said, 416 00:22:56,359 --> 00:23:00,439 Speaker 2: think about the broad snapshot on the economy, knowing the 417 00:23:00,560 --> 00:23:04,080 Speaker 2: different ways that d's and rs look at that, you 418 00:23:04,160 --> 00:23:06,720 Speaker 2: can't argue the forty fourth record high on the S 419 00:23:06,760 --> 00:23:09,680 Speaker 2: and P five hundred. To what extent does the wealth 420 00:23:09,680 --> 00:23:14,080 Speaker 2: effect from this market help the incumbent if at all? 421 00:23:14,240 --> 00:23:16,359 Speaker 2: Wall Street seems that at least there's a narrative that 422 00:23:16,400 --> 00:23:20,080 Speaker 2: Wall Street favors Donald Trump because of a lower corporate 423 00:23:20,160 --> 00:23:23,440 Speaker 2: tax rate. But is this something that the Harris campaign 424 00:23:23,520 --> 00:23:26,280 Speaker 2: needs to start highlighting in the closing hours of this campaign. 425 00:23:27,240 --> 00:23:31,000 Speaker 5: Oh? Absolutely, you know. I will go to my grave 426 00:23:31,080 --> 00:23:34,320 Speaker 5: hopefully not soon, so to speak, saying that September eighteenth 427 00:23:34,400 --> 00:23:37,840 Speaker 5: was the best day for Kamala Harris and the Harris 428 00:23:37,840 --> 00:23:42,679 Speaker 5: campaign because of the drop in interest rates. Those macroeconomic 429 00:23:42,840 --> 00:23:47,160 Speaker 5: numbers help them. They need to talk about them, and 430 00:23:47,240 --> 00:23:50,720 Speaker 5: they need to keep talking about them. But the reality 431 00:23:50,880 --> 00:23:54,280 Speaker 5: is they also have to understand where people are when 432 00:23:54,320 --> 00:23:56,560 Speaker 5: they go to the grocery store and go to get 433 00:23:56,600 --> 00:23:59,720 Speaker 5: gas and the costs are high, and so they've had 434 00:23:59,760 --> 00:24:03,600 Speaker 5: this really difficult challenge as the incumbent, so to speak, 435 00:24:03,840 --> 00:24:07,000 Speaker 5: of walking that line. And I thought, that's why what 436 00:24:07,119 --> 00:24:09,720 Speaker 5: Kamala Harris started to do on the View the other 437 00:24:09,800 --> 00:24:12,879 Speaker 5: day is something that she should do all the time, 438 00:24:13,160 --> 00:24:17,840 Speaker 5: which is keep introducing new economic policies. In this case, 439 00:24:17,880 --> 00:24:20,399 Speaker 5: she was talking about how to help the you know 440 00:24:20,440 --> 00:24:23,960 Speaker 5: about one hundred million Americans who are trying to care 441 00:24:24,000 --> 00:24:27,399 Speaker 5: for elderly people in their homes. Now, whether that is 442 00:24:27,480 --> 00:24:30,359 Speaker 5: economically sound I have some questions about, and of course 443 00:24:30,400 --> 00:24:33,480 Speaker 5: it got overshadowed by her hugging of Joe Biden. But 444 00:24:33,640 --> 00:24:36,760 Speaker 5: that aside, she needs to be putting out these economic 445 00:24:37,160 --> 00:24:40,000 Speaker 5: ideas and she needs to stick with them, and she 446 00:24:40,119 --> 00:24:42,800 Speaker 5: needs to talk about this at these macro numbers that 447 00:24:42,880 --> 00:24:46,080 Speaker 5: look good for them, and keep talking about how she's 448 00:24:46,119 --> 00:24:48,679 Speaker 5: going to do things better than Joe Biden did or 449 00:24:48,720 --> 00:24:51,680 Speaker 5: differently as it pertains to costs. Especially. 450 00:24:51,760 --> 00:24:55,680 Speaker 2: I don't know who keeping track I understand, Genie, I 451 00:24:55,680 --> 00:24:57,639 Speaker 2: don't know who's keeping track of all these proposals on 452 00:24:57,640 --> 00:24:59,800 Speaker 2: the daily though you mentioned that one from Kamala Harris 453 00:24:59,840 --> 00:25:03,800 Speaker 2: too days ago, right involving support for home health aids. Rick. 454 00:25:04,000 --> 00:25:07,000 Speaker 2: Last night, Donald Trump dropped another one, no income tax 455 00:25:07,080 --> 00:25:10,760 Speaker 2: on expats. We're the tenth of October. At what point 456 00:25:10,760 --> 00:25:14,240 Speaker 2: does the window close on new proposals? How much more 457 00:25:14,400 --> 00:25:17,480 Speaker 2: room do people have in their brains for this? Yeah? 458 00:25:17,760 --> 00:25:19,920 Speaker 7: I think the window closed a long time ago. I mean, 459 00:25:20,240 --> 00:25:23,639 Speaker 7: you you hit it, Joe. I mean, politics is about repetition. 460 00:25:24,000 --> 00:25:26,200 Speaker 7: There's gonna be no recall. If I took a poll 461 00:25:26,280 --> 00:25:28,920 Speaker 7: today and ask people, you know, what have you seen 462 00:25:29,000 --> 00:25:30,760 Speaker 7: right or heard about these campaigns lately? 463 00:25:31,160 --> 00:25:32,840 Speaker 2: And you asked Donald Trump. 464 00:25:32,600 --> 00:25:34,639 Speaker 7: Supporters, you know what they think, and they're not going 465 00:25:34,680 --> 00:25:36,160 Speaker 7: to be able to repeat any of this stuff. They've 466 00:25:36,160 --> 00:25:39,240 Speaker 7: heard it one time. That's why you do advertising over 467 00:25:39,280 --> 00:25:42,280 Speaker 7: and over and over on the same issue, because it's 468 00:25:42,359 --> 00:25:44,159 Speaker 7: hard to get through to these voters. They got a 469 00:25:44,160 --> 00:25:47,840 Speaker 7: few distractions in places like Georgia and Florida and North Carolina, 470 00:25:48,359 --> 00:25:51,320 Speaker 7: you know. And so this, this is an incredible mistake 471 00:25:51,400 --> 00:25:54,800 Speaker 7: that both campaigns are making that in the last you know, 472 00:25:54,920 --> 00:25:57,800 Speaker 7: four weeks of the election, they're introducing new ideas into 473 00:25:57,800 --> 00:26:00,920 Speaker 7: the voters. It's only going to add confusion. I mean, 474 00:26:01,560 --> 00:26:05,640 Speaker 7: Kamala Harris is fighting yesterday's battle yesterday's battle was you're 475 00:26:05,680 --> 00:26:06,560 Speaker 7: not detailed enough. 476 00:26:06,600 --> 00:26:07,880 Speaker 2: We don't know your proposals. 477 00:26:08,240 --> 00:26:10,239 Speaker 7: She's done as much as she could do on that, 478 00:26:10,359 --> 00:26:14,520 Speaker 7: and now's the time just to reinforce. Reinforce, reinforce. 479 00:26:15,760 --> 00:26:19,440 Speaker 2: Advice from Rick Davis and Jeanie Shanzano. I hope they're listening. 480 00:26:19,480 --> 00:26:21,760 Speaker 2: I know they like to get this program whenever they can, 481 00:26:22,280 --> 00:26:24,240 Speaker 2: not just on the radio, but on YouTube, where you 482 00:26:24,280 --> 00:26:27,080 Speaker 2: can find us now search Bloomberg Business News Live. Because 483 00:26:27,080 --> 00:26:29,639 Speaker 2: we're not done with our panel. Coming up next a 484 00:26:29,680 --> 00:26:32,000 Speaker 2: lot more with Rick Davis and Genie Shanzano and the 485 00:26:32,000 --> 00:26:34,800 Speaker 2: politics of a hurricane. We've just had another set of 486 00:26:34,840 --> 00:26:37,119 Speaker 2: remarks added by Joe Biden. He's going to address the 487 00:26:37,200 --> 00:26:40,680 Speaker 2: nation coming up at about ninety minutes with the initial 488 00:26:40,760 --> 00:26:47,480 Speaker 2: reaction the response to Hurricane Milton. Avoided the worst in Florida, 489 00:26:47,600 --> 00:26:50,439 Speaker 2: but they're still dealing with a very dangerous situation, as 490 00:26:50,480 --> 00:26:53,480 Speaker 2: we heard from Congresswoman Caster early this hour. We'll have 491 00:26:53,560 --> 00:26:56,600 Speaker 2: much more ahead on Balance of Power. This is Bloomberg. 492 00:27:00,280 --> 00:27:03,840 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 493 00:27:03,920 --> 00:27:06,840 Speaker 1: Just Live weekdays at noon Eastern on applecar Play. And 494 00:27:06,840 --> 00:27:09,960 Speaker 1: then Brounoro with the Bloomberg Business app Listen on demand 495 00:27:10,040 --> 00:27:15,880 Speaker 1: wherever you get your podcasts A watch us live on YouTube. 496 00:27:16,600 --> 00:27:19,760 Speaker 2: CPI Thursday, known to some as Little Friday. Welcome to 497 00:27:19,760 --> 00:27:22,480 Speaker 2: the fastest show in politics, the fastest hour in politics. 498 00:27:22,480 --> 00:27:24,720 Speaker 2: Today it's like the old days as we hand things 499 00:27:24,720 --> 00:27:26,679 Speaker 2: over a little early to Bloomberg Business Week and an 500 00:27:26,680 --> 00:27:30,120 Speaker 2: important series of conversations ahead coming up from screen time 501 00:27:30,240 --> 00:27:33,159 Speaker 2: in la they are convening a meeting as we speak 502 00:27:33,240 --> 00:27:36,280 Speaker 2: in the Situation Room at the White House. President Biden 503 00:27:36,560 --> 00:27:38,840 Speaker 2: and the Vice President, along with members of the administration, 504 00:27:38,960 --> 00:27:42,640 Speaker 2: getting together to talk about the impacts of hurricanes Milton 505 00:27:42,720 --> 00:27:45,200 Speaker 2: and Helen, of course within two weeks of each other. 506 00:27:45,520 --> 00:27:49,399 Speaker 2: At two pm Eastern time, Joe Biden will be holding 507 00:27:49,480 --> 00:27:52,320 Speaker 2: forth with an update from the White House. Much like yesterday, 508 00:27:52,359 --> 00:27:55,600 Speaker 2: He'll be addressing the American people about the initial impacts 509 00:27:55,680 --> 00:27:58,280 Speaker 2: of this storm. And of course we've got a lot 510 00:27:58,280 --> 00:28:02,760 Speaker 2: of different layers of polic surrounding natural disasters this week 511 00:28:02,800 --> 00:28:06,040 Speaker 2: that we want to talk about with our political panel. 512 00:28:06,440 --> 00:28:09,199 Speaker 2: But I have to first not only bring in Rick 513 00:28:09,320 --> 00:28:13,159 Speaker 2: Davis and Genie Shanzano, Bloomberg Politics contributors. You know them 514 00:28:13,160 --> 00:28:15,320 Speaker 2: well if you're here every day on this program. She 515 00:28:15,440 --> 00:28:18,960 Speaker 2: is political science professor at Iona University. He is partner 516 00:28:19,040 --> 00:28:21,840 Speaker 2: at stone Court Capital. But if you hear this hour 517 00:28:21,960 --> 00:28:23,879 Speaker 2: typically the twelve New hour, you never get to hang 518 00:28:23,920 --> 00:28:26,520 Speaker 2: out with Kaylee, and so we thought we'd bring Kaylee 519 00:28:26,560 --> 00:28:28,679 Speaker 2: Lines in as well. Of course, normally you hear her 520 00:28:28,720 --> 00:28:30,760 Speaker 2: at one pm Eastern time. Nice to see you, Thanks 521 00:28:30,760 --> 00:28:32,520 Speaker 2: for coming over. I thought we'd hang out for a 522 00:28:32,560 --> 00:28:36,360 Speaker 2: little bit. Absolutely. Yes, we have Rick, we have Genie, 523 00:28:36,359 --> 00:28:38,760 Speaker 2: we have Kaylee, which means that we can do anything here. 524 00:28:39,880 --> 00:28:42,360 Speaker 2: You know, last evening was something listening to Joe Biden 525 00:28:43,400 --> 00:28:46,040 Speaker 2: actually fact checking Donald Trump from the White House, and 526 00:28:46,080 --> 00:28:47,720 Speaker 2: you wonder if he gets into that more today. 527 00:28:48,000 --> 00:28:50,040 Speaker 8: Well, he very well might, as he is making the 528 00:28:50,080 --> 00:28:52,440 Speaker 8: case that the government is there to help people despite 529 00:28:52,480 --> 00:28:55,040 Speaker 8: some of the misinformation that is out there. The concern, 530 00:28:55,200 --> 00:28:58,760 Speaker 8: of course being that it is going to affect human lives. 531 00:28:58,760 --> 00:29:01,200 Speaker 8: We already have seen lives that were lost in the 532 00:29:01,240 --> 00:29:03,840 Speaker 8: storm when it made landfall in Florida yesterday. Still millions 533 00:29:03,880 --> 00:29:06,880 Speaker 8: without power. Access to clean drinking water an issue in 534 00:29:06,920 --> 00:29:09,880 Speaker 8: some areas, and when humanity hangs in the balance, perhaps 535 00:29:09,920 --> 00:29:12,120 Speaker 8: that underscores the need to make sure the facts. 536 00:29:11,840 --> 00:29:14,560 Speaker 2: Are out there yeah, and that's for sure. Let's start 537 00:29:14,560 --> 00:29:17,880 Speaker 2: with our panel and see how this is playing. I 538 00:29:17,880 --> 00:29:20,880 Speaker 2: can go in a lot of different directions here, Rick Davis, 539 00:29:20,920 --> 00:29:23,680 Speaker 2: whether it's misinformation or just actually getting the job done. 540 00:29:24,480 --> 00:29:27,000 Speaker 2: But there are political implications anytime you see the recovery 541 00:29:27,000 --> 00:29:29,160 Speaker 2: from a storm. Here is Florida. Now on the second storm, 542 00:29:29,200 --> 00:29:31,240 Speaker 2: I'm going to go through what we did the first 543 00:29:31,240 --> 00:29:35,280 Speaker 2: time with misinformation and rumors and social media and the 544 00:29:35,320 --> 00:29:36,840 Speaker 2: fact checking and all the rest of it. Or have 545 00:29:36,840 --> 00:29:38,160 Speaker 2: we've gotten that out of our systems? 546 00:29:39,720 --> 00:29:41,440 Speaker 7: You know, I don't think we've gotten out of our systems. 547 00:29:41,480 --> 00:29:45,360 Speaker 7: I woke up this morning reading a piece that James 548 00:29:45,360 --> 00:29:49,000 Speaker 7: Carvell was talking about, and he was criticizing the Harris 549 00:29:49,000 --> 00:29:53,560 Speaker 7: and Biden administration for losing ground on the narrative about 550 00:29:53,680 --> 00:29:56,520 Speaker 7: how effective these kinds of responses are going to be. 551 00:29:56,680 --> 00:29:59,280 Speaker 7: And even though you have to sort through all this 552 00:29:59,280 --> 00:30:03,920 Speaker 7: this and MISSI and you know it's being done for primarily, 553 00:30:04,080 --> 00:30:08,040 Speaker 7: if not singularly, political purposes, you have to respect the 554 00:30:08,040 --> 00:30:10,880 Speaker 7: fact that James Carver makes the point that if you 555 00:30:11,000 --> 00:30:14,840 Speaker 7: lose the control of the narrative, then what is being 556 00:30:14,920 --> 00:30:18,680 Speaker 7: put out there as misinformation becomes the truth to many voters, 557 00:30:18,760 --> 00:30:22,560 Speaker 7: and so it doesn't surprise me that President of the 558 00:30:22,600 --> 00:30:24,719 Speaker 7: United States has to go out and knock down these 559 00:30:24,800 --> 00:30:29,360 Speaker 7: rumors because he runs the risk of getting and run 560 00:30:29,520 --> 00:30:33,320 Speaker 7: by a fake narrative that people have a tendency to 561 00:30:33,360 --> 00:30:36,479 Speaker 7: right now believe conspiracy theories, and some of them are 562 00:30:36,480 --> 00:30:39,000 Speaker 7: so outlantish you can dismiss them, but not all of them. 563 00:30:39,560 --> 00:30:42,360 Speaker 7: And so I think you're going to see a real 564 00:30:42,400 --> 00:30:45,440 Speaker 7: effort on the part of the Harris campaign and the 565 00:30:45,440 --> 00:30:47,920 Speaker 7: Biden White House to try and knock this stuff down 566 00:30:48,000 --> 00:30:51,239 Speaker 7: so they don't lose control over a narrative, which is 567 00:30:51,680 --> 00:30:54,760 Speaker 7: the American government stands by people who have been injured, 568 00:30:55,480 --> 00:30:59,920 Speaker 7: in lost property and lives from these natural disasters, and 569 00:31:00,120 --> 00:31:03,000 Speaker 7: that that should not be at all a question that 570 00:31:03,040 --> 00:31:05,240 Speaker 7: we're going to do everything we can to support. 571 00:31:04,920 --> 00:31:10,360 Speaker 8: Them, well everything they can, Genie doesn't necessarily mean that 572 00:31:10,480 --> 00:31:13,200 Speaker 8: rescue and recovery efforts will go perfectly, as we saw 573 00:31:13,200 --> 00:31:16,280 Speaker 8: in North Carolina. While there broadly was applauding for the 574 00:31:16,280 --> 00:31:18,920 Speaker 8: emergency personnel who did respond, we know there were some 575 00:31:19,120 --> 00:31:22,800 Speaker 8: delays in western parts of the state. Access was an issue. 576 00:31:22,960 --> 00:31:25,320 Speaker 8: The troops didn't necessarily get there on the timeline that 577 00:31:25,360 --> 00:31:28,880 Speaker 8: was originally proposed. If there are weaknesses any of them 578 00:31:28,920 --> 00:31:30,840 Speaker 8: in the federal response, even if by and large they 579 00:31:30,880 --> 00:31:32,960 Speaker 8: do try to show up in the best way possible 580 00:31:32,960 --> 00:31:35,920 Speaker 8: for these people who are affected, how poorly does that 581 00:31:36,000 --> 00:31:39,080 Speaker 8: reflect back on the Vice president herself since she is 582 00:31:39,120 --> 00:31:40,680 Speaker 8: the candidate in consideration here? 583 00:31:41,840 --> 00:31:46,000 Speaker 5: It's an enormous problem, And you know, I am surprised 584 00:31:46,080 --> 00:31:49,560 Speaker 5: I have to say that Joe Biden is going out 585 00:31:49,720 --> 00:31:53,239 Speaker 5: and trying to fact check on this. The reality is 586 00:31:53,600 --> 00:31:56,960 Speaker 5: Joe Biden is not a great communicator at this point. 587 00:31:57,320 --> 00:31:59,400 Speaker 5: God bless him. He wants to fact check, and he's 588 00:31:59,480 --> 00:32:02,720 Speaker 5: right to fact But the reality is the White House 589 00:32:02,880 --> 00:32:06,760 Speaker 5: and the Harris campaign need somebody front and center the 590 00:32:06,800 --> 00:32:10,160 Speaker 5: way they did or we did during COVID for instance, 591 00:32:10,600 --> 00:32:13,880 Speaker 5: to come out and say we are in a crisis, 592 00:32:14,040 --> 00:32:16,680 Speaker 5: this is what we're doing, this is the information we have. 593 00:32:17,080 --> 00:32:19,880 Speaker 5: There are a lot of great communicators in the White House, 594 00:32:19,920 --> 00:32:23,360 Speaker 5: in the Democratic Party, one person who's been named, you 595 00:32:23,400 --> 00:32:27,720 Speaker 5: guys know, well, Mitch Landrew. Get somebody out who can 596 00:32:28,160 --> 00:32:31,440 Speaker 5: correct this misinformation. And I would just add that I 597 00:32:31,600 --> 00:32:34,960 Speaker 5: spent a lot of yesterday with young people, and I 598 00:32:35,040 --> 00:32:40,120 Speaker 5: could repeat just enormously for a long time, the amount 599 00:32:40,160 --> 00:32:43,640 Speaker 5: of misinformation that they are getting, and they believe a 600 00:32:43,640 --> 00:32:46,120 Speaker 5: lot of what they are hearing. It's got to be 601 00:32:46,240 --> 00:32:48,960 Speaker 5: fact check. But Joe Biden is not the person to 602 00:32:49,040 --> 00:32:51,480 Speaker 5: do it out of the White House, and it's important 603 00:32:51,520 --> 00:32:54,760 Speaker 5: for the campaign and the people in the South who 604 00:32:54,760 --> 00:32:55,880 Speaker 5: are dealing with all of this. 605 00:32:57,240 --> 00:33:00,360 Speaker 2: We saw a post from Anapaulina Luna not to one 606 00:33:00,440 --> 00:33:03,920 Speaker 2: to be working with or complimenting Joe Biden Rick of 607 00:33:03,960 --> 00:33:07,800 Speaker 2: course representing chunk of Florida here, since you just got 608 00:33:07,840 --> 00:33:11,120 Speaker 2: off the phone with Joe Biden, who is personally overseeing 609 00:33:11,200 --> 00:33:14,120 Speaker 2: that FEMA does not create problems with the debris removal 610 00:33:14,560 --> 00:33:17,800 Speaker 2: and supportive of the fifteen billion in FEMA funds only 611 00:33:17,840 --> 00:33:21,720 Speaker 2: for hurricane victims. She ends the post by saying this 612 00:33:21,800 --> 00:33:26,200 Speaker 2: needs to happen. Congress a Special Session Speaker Johnson call 613 00:33:26,320 --> 00:33:29,920 Speaker 2: us back. Is that going to be the next step 614 00:33:30,040 --> 00:33:32,840 Speaker 2: in this reaction from Washington? Rick to lawmakers in fact, 615 00:33:33,600 --> 00:33:36,000 Speaker 2: need to come home despite or back to Washington, despite 616 00:33:36,040 --> 00:33:36,920 Speaker 2: what the speaker is saying. 617 00:33:38,440 --> 00:33:41,280 Speaker 7: Well, I certainly think it's good politics. What else are 618 00:33:41,320 --> 00:33:44,160 Speaker 7: they doing? I mean running for reelection? They got four 619 00:33:44,200 --> 00:33:48,040 Speaker 7: more weeks. You know, the reality is that they actually 620 00:33:48,440 --> 00:33:51,200 Speaker 7: make more friends and find more votes if they gain 621 00:33:51,320 --> 00:33:56,640 Speaker 7: back to Washington and hustled up a supplemental to help 622 00:33:56,680 --> 00:33:59,760 Speaker 7: support victims of these hurricanes. I mean, the reality is 623 00:33:59,800 --> 00:34:03,280 Speaker 7: the entire country, if not large portions of the world, 624 00:34:03,320 --> 00:34:07,080 Speaker 7: have been watching what's been happening here. It's an extraordinary 625 00:34:07,920 --> 00:34:11,319 Speaker 7: set of conditions that have existed, and it would just 626 00:34:11,400 --> 00:34:15,040 Speaker 7: be rational that the Republican leadership should would say, you 627 00:34:15,040 --> 00:34:17,120 Speaker 7: know what, we've got to get our piece of this. 628 00:34:17,160 --> 00:34:18,640 Speaker 7: We're going to come in and we're going to show 629 00:34:18,640 --> 00:34:21,000 Speaker 7: our support for these folks. But I think they've been 630 00:34:21,040 --> 00:34:25,360 Speaker 7: distracted by all this disinformation that's emanating from mar Lago 631 00:34:25,560 --> 00:34:28,200 Speaker 7: and they think somehow that now they can't be part 632 00:34:28,239 --> 00:34:31,520 Speaker 7: of the solution. They have to just point out the problems, 633 00:34:31,560 --> 00:34:34,760 Speaker 7: and that is taking politics in the wrong direction. And frankly, 634 00:34:34,800 --> 00:34:36,600 Speaker 7: I think going to hurt a lot of the momentum 635 00:34:36,800 --> 00:34:39,520 Speaker 7: of these Republican congressional candidates if they sign on to 636 00:34:39,600 --> 00:34:40,239 Speaker 7: this kind of thing. 637 00:34:41,920 --> 00:34:45,160 Speaker 8: Well, it's not just the congressional candidates to consider, but 638 00:34:45,200 --> 00:34:47,960 Speaker 8: Senate ones as well as Senator Rick Scott, the Republican 639 00:34:47,960 --> 00:34:50,480 Speaker 8: incumbent in Florida who is up for reelection this cycle, 640 00:34:50,520 --> 00:34:55,040 Speaker 8: has also called for potentially supplemental funding emergency session. We 641 00:34:55,120 --> 00:34:57,520 Speaker 8: have new polling from The New York Times in Santa 642 00:34:57,560 --> 00:35:00,200 Speaker 8: College that finds while Trump is up thirteen points in 643 00:35:00,200 --> 00:35:03,200 Speaker 8: Florida and the presidential race, Senator Scott is ahead by 644 00:35:03,280 --> 00:35:06,480 Speaker 8: nine points. A separate Merist poll finds him up by 645 00:35:06,600 --> 00:35:09,520 Speaker 8: just two points against his Democratic opponent Rick. When you 646 00:35:09,560 --> 00:35:13,719 Speaker 8: consider the impact of this particular natural disaster, how does 647 00:35:13,719 --> 00:35:16,080 Speaker 8: it affect Senator Scott's rece. 648 00:35:17,239 --> 00:35:19,080 Speaker 7: Well, I think he's going to get graded on how 649 00:35:19,080 --> 00:35:24,080 Speaker 7: they feel the federal responses is occurring, and he can't 650 00:35:24,120 --> 00:35:28,560 Speaker 7: have the luxury of spreading misinformation and thinking that's somehow 651 00:35:28,600 --> 00:35:35,160 Speaker 7: going to help him. He is the primary elected official 652 00:35:35,160 --> 00:35:38,680 Speaker 7: who's connected to the federal response, connected to FEMA, connected 653 00:35:38,680 --> 00:35:41,640 Speaker 7: to the White House, who needs to make sure that 654 00:35:41,880 --> 00:35:45,279 Speaker 7: the people of Florida are taken care of. And so 655 00:35:46,080 --> 00:35:49,600 Speaker 7: I'm not surprised that he's calling for special session. I 656 00:35:49,680 --> 00:35:53,320 Speaker 7: know that it would show that he is doing something 657 00:35:54,080 --> 00:35:56,600 Speaker 7: in this regard. There's little he can do at home 658 00:35:56,760 --> 00:36:00,080 Speaker 7: directly other than be a catalyst for federal action. So 659 00:36:00,400 --> 00:36:03,560 Speaker 7: being a catalyst means getting something done. If he does 660 00:36:03,600 --> 00:36:05,600 Speaker 7: nothing in the next four weeks, it's not going to 661 00:36:05,640 --> 00:36:06,640 Speaker 7: help him get re elected. 662 00:36:07,800 --> 00:36:11,880 Speaker 2: Interesting, Kaylee points to this Siena College New York Times 663 00:36:11,920 --> 00:36:16,560 Speaker 2: poll Genie and it brings troubling news for Democrats in 664 00:36:16,600 --> 00:36:20,080 Speaker 2: these Senate races, not just Florida, but also Montana and Texas, 665 00:36:20,080 --> 00:36:22,880 Speaker 2: and they conclude here that the GOP is on a 666 00:36:23,000 --> 00:36:27,440 Speaker 2: clear path to winning Senate control. Does any element of 667 00:36:27,480 --> 00:36:30,360 Speaker 2: the response to these storms affect that outcome? 668 00:36:31,440 --> 00:36:33,759 Speaker 5: It absolutely does. First of all, you and Kaylee know 669 00:36:33,880 --> 00:36:36,040 Speaker 5: that this was very distressing for me as I have 670 00:36:36,080 --> 00:36:38,640 Speaker 5: a bet with Rick Davis about Texas. 671 00:36:38,200 --> 00:36:40,040 Speaker 1: And to see the thing by. 672 00:36:41,520 --> 00:36:44,520 Speaker 5: It's very distressing. Although I would add if I could, 673 00:36:44,960 --> 00:36:47,959 Speaker 5: that it's still that state is still the one where 674 00:36:48,000 --> 00:36:51,200 Speaker 5: the Democrats have the best shot. So Colin all Red 675 00:36:51,200 --> 00:36:54,480 Speaker 5: has got to come through just for me. Beyond that, 676 00:36:54,600 --> 00:36:57,400 Speaker 5: you know, this is I think where you know, forget 677 00:36:57,400 --> 00:37:00,239 Speaker 5: all the noise, forget the storm. We knew this was 678 00:37:00,280 --> 00:37:02,920 Speaker 5: going to be a really tough year for Democrats. The 679 00:37:03,080 --> 00:37:06,640 Speaker 5: map has totally worked against them, and we're seeing that. 680 00:37:06,800 --> 00:37:10,000 Speaker 5: And of course, you know Montana looks like it is 681 00:37:10,120 --> 00:37:14,520 Speaker 5: lost already. You were just talking about Florida. Sure this 682 00:37:14,719 --> 00:37:17,719 Speaker 5: you know the storm can change that, but you know, 683 00:37:17,800 --> 00:37:20,640 Speaker 5: you still have Scott up, and of course Colin already 684 00:37:20,680 --> 00:37:23,400 Speaker 5: is still down by fourig in Texas. So it is 685 00:37:23,440 --> 00:37:27,640 Speaker 5: looking very much like the Republicans have a very good 686 00:37:27,640 --> 00:37:30,520 Speaker 5: shot of taking the Senate. And you know, one thing 687 00:37:30,680 --> 00:37:33,160 Speaker 5: just to add to the conversation on Florida and Rick 688 00:37:33,239 --> 00:37:37,879 Speaker 5: Scott is the fact that housing and insurance costs are 689 00:37:38,320 --> 00:37:41,040 Speaker 5: just really really hard to get insurances, you know, in Florida, 690 00:37:41,080 --> 00:37:43,880 Speaker 5: and the costs are exorbitant. And that's something Democrats have 691 00:37:43,880 --> 00:37:47,279 Speaker 5: been talking about for the last several years. That may 692 00:37:47,480 --> 00:37:50,719 Speaker 5: help turn the state, but I don't think it's going 693 00:37:50,760 --> 00:37:51,920 Speaker 5: to happen this year. 694 00:37:53,120 --> 00:37:54,759 Speaker 8: All right. So that's a look down the ballot, if 695 00:37:54,760 --> 00:37:57,760 Speaker 8: we could zoom back up and look at the presidential race. 696 00:37:57,840 --> 00:38:00,480 Speaker 8: We've course learned yesterday that there will be no rematch 697 00:38:00,560 --> 00:38:03,120 Speaker 8: in terms of a debate between Donald Trump and Kamala Harris, 698 00:38:03,120 --> 00:38:05,240 Speaker 8: at least according to Trump. Harris of course had agreed 699 00:38:05,480 --> 00:38:08,600 Speaker 8: she went October twenty third debate on CNN. Now CNN 700 00:38:09,040 --> 00:38:13,000 Speaker 8: Today has proposed two separate town halls with the candidates 701 00:38:13,040 --> 00:38:15,480 Speaker 8: on the network on that date. We're getting reporting that 702 00:38:15,520 --> 00:38:20,440 Speaker 8: Harris has agreed to participate. Not sure yet on Donald Trump, Genie, 703 00:38:20,440 --> 00:38:23,759 Speaker 8: if he decides not to participate or to counter programming 704 00:38:23,840 --> 00:38:26,719 Speaker 8: in some way, net who benefits from that? 705 00:38:28,320 --> 00:38:28,560 Speaker 1: You know? 706 00:38:28,840 --> 00:38:31,399 Speaker 5: I think she it's important for her to go out 707 00:38:31,480 --> 00:38:34,120 Speaker 5: and to keep talking to voters. I say the same 708 00:38:34,160 --> 00:38:37,280 Speaker 5: thing about him. But if he's going to counter program, 709 00:38:37,320 --> 00:38:39,920 Speaker 5: I don't think his absence from CNN is going to 710 00:38:40,040 --> 00:38:43,680 Speaker 5: hurt him all that much. You know. The reality is 711 00:38:43,680 --> 00:38:47,200 Speaker 5: is that Donald Trump has been out there trying to 712 00:38:47,280 --> 00:38:50,560 Speaker 5: speak to the people in his base, and he has 713 00:38:50,600 --> 00:38:54,680 Speaker 5: been doing so successfully. CNN is not that audience, So 714 00:38:54,840 --> 00:38:56,800 Speaker 5: I don't think it hurts him that much if he 715 00:38:56,880 --> 00:38:59,839 Speaker 5: stays away from it. Maybe another story if he gets 716 00:38:59,840 --> 00:39:02,960 Speaker 5: invite from Fox and declines that. 717 00:39:05,560 --> 00:39:08,640 Speaker 2: All right, guys, great conversation as always, Genie Shanzano and 718 00:39:08,760 --> 00:39:11,799 Speaker 2: Rick Davis. A rare appearance by Kaylee Lyons here at 719 00:39:11,840 --> 00:39:14,440 Speaker 2: the noontime Eastern hour. Great to see both of you. 720 00:39:14,480 --> 00:39:17,120 Speaker 2: Partner at Stone Court Capital, Rick Davis and Genie Shanzano, 721 00:39:17,200 --> 00:39:24,520 Speaker 2: political science professor at Ionia University. Thanks for listening to 722 00:39:24,560 --> 00:39:27,920 Speaker 2: the Balance of Power podcast. Make sure to subscribe if 723 00:39:27,960 --> 00:39:30,680 Speaker 2: you haven't already, at Apple, Spotify, or wherever you get 724 00:39:30,719 --> 00:39:33,760 Speaker 2: your podcasts, and you can find us live every weekday 725 00:39:33,760 --> 00:39:37,560 Speaker 2: from Washington, DC, at noontime Eastern at bloomberg dot com.