WEBVTT - Bloomberg Daybreak: January 20, 2023

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<v Speaker 1>Live from the Bloomberg Interacted Burger Studios. This is Bloomberg

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<v Speaker 1>day Break for Friday January. Coming up this hour, the

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<v Speaker 1>US hits the debt ceiling. Now the debate over what

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<v Speaker 1>to do about it is just beginning. I'm all Street.

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<v Speaker 1>Netflix shares rally, a subscriber growth tops estimates, More feed

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<v Speaker 1>officials call for higher rates even as inflation eases, and

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<v Speaker 1>another crypto firm files for bankruptcy in the wake of

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<v Speaker 1>the ft X collapse. I'm a me Morris of federal

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<v Speaker 1>court orders Donald Trump to pay a million dollars for

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<v Speaker 1>a bogus lawsuit, and New York state revenue tops estimates

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<v Speaker 1>by billions of dollars. I'm John Stash and sports. The

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<v Speaker 1>net slump continued with the laws in Phoenix, the Rangers

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<v Speaker 1>lost to the Bruins. The Devils and Islanders both lost

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<v Speaker 1>in overtime. That's all s traded ahead on Bloomberg Daybreak

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<v Speaker 1>on Bloomberg eleven, Free on New York, Bloomberg one, Washington,

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<v Speaker 1>d C, Bloomberg one oh six one, Boston, Bloomberg nine

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<v Speaker 1>sixties and Francisco Sirius x M one nineteen and around

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<v Speaker 1>the world on Bloomberg Radio. Dot Com and via The

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<v Speaker 1>Bloomberg Business. Good morning, I'm Nathan Hagar and I'm Cameron Moscow.

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<v Speaker 1>Here are the stories we're following today. Let's start in

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<v Speaker 1>Washington this morning, where a dispute could have market implications

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<v Speaker 1>over the next several months. The US has reached its

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<v Speaker 1>debt ceiling and now the Treasury departments stepping into retirement

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<v Speaker 1>funds to avoid a default. But those extraordinary measures, as

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<v Speaker 1>they're called, will only last till June. Democratic Senator Joe

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<v Speaker 1>Mansion is floating a compromise, raised the debt ceiling and

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<v Speaker 1>vote to create bipartisan panels to study government spending. We're

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<v Speaker 1>going to target basically the debt and increasing of the

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<v Speaker 1>debt to how we can basically prevent that from continue

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<v Speaker 1>to increase as it does and start downward trend. And

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<v Speaker 1>there has to be some discipline and there has to

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<v Speaker 1>be some sacrifice. Senator Mansion spoke with Bloomberg's David Weston

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<v Speaker 1>from the World Economic Forum in Davos, but his plan

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<v Speaker 1>is unlikely to fly in a deeply divided Congress. That's

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<v Speaker 1>according to Bloomberg Politics contributor Jeanie chan Zano, as whuch

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<v Speaker 1>as I give him credit for trying to push forward

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<v Speaker 1>the idea of a bipartisan anything that the reality is

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<v Speaker 1>tying together. The lifting or suspension of the debt ceiling

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<v Speaker 1>with spending is a non starter. Jennie Chanzano spoke with

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<v Speaker 1>our Washington corresponded Joe Matthew on Bloomberg Sound On. You

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<v Speaker 1>can catch the show weekdays at five pm Eastern on

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<v Speaker 1>Bloomberg Radio, and we'll have more of our interview with

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<v Speaker 1>Senator Mansion from Davos coming up shortly on Bloomberg Daybreak. Well,

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<v Speaker 1>Nathan returned to the markets. Now in US futures are

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<v Speaker 1>little change this Friday morning. We're closing out a week

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<v Speaker 1>that saw the S and P five hundred fall for

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<v Speaker 1>three straight sessions thanks to week economic data. Hank Smith,

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<v Speaker 1>as chief investment officer at Haverford Trust, I think there

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<v Speaker 1>is a chance that the gets lower low than the

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<v Speaker 1>October two low, But our view is it's likely that

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<v Speaker 1>we're going to have a recession, which equally as likely

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<v Speaker 1>that it's going to be mild and brief. Trust Hank

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<v Speaker 1>Smith says a key thing to watch today is the

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<v Speaker 1>mass expiration of options. It's said to be the biggest

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<v Speaker 1>January event in a decade. Well, one bright spot in

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<v Speaker 1>stocks this morning, Karen is Netflix. That company reported earnings

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<v Speaker 1>late yesterday that outperformed estimates, and we get the latest

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<v Speaker 1>Live with Bloomberg's John Tucker. Good morning, John, Good morning,

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<v Speaker 1>ninth of the streaming giant, adding seven point seven million

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<v Speaker 1>new subscribers in the fourth quarter that beat forecast. New

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<v Speaker 1>content brought in more viewers. The series Wednesday in Adam's

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<v Speaker 1>Family Spent Off was the company's third most popular series ever. Well,

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<v Speaker 1>the documentary Harry and Meghan was also a hit. Netflix

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<v Speaker 1>also had its own drama in the boardroom, the co

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<v Speaker 1>founder Read Hastings a stepping aside the CEO post now

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<v Speaker 1>being filled by his two longtime associates, Ted Surrandos and

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<v Speaker 1>Greg Peters. Shares are up over five percent pre market.

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<v Speaker 1>Last year, the company saw more than a third of

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<v Speaker 1>its value wiped out after poor showing in the first quarter.

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<v Speaker 1>Live in New York. I'm John Tucker, Bloomberg Daybreak. All right, John,

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<v Speaker 1>thank you. Well. On the economic front, we are seeing

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<v Speaker 1>more Fed officials call for high interest rate sense despite

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<v Speaker 1>signs inflation is cooling. Here's Federal Reserve Bank of New

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<v Speaker 1>York President John Williams some signs the inflations modtere. It

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<v Speaker 1>remains far too high, and it is my number one

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<v Speaker 1>concern going into twine twine free. And that sentiment from

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<v Speaker 1>John Williams was also echoed by the Vice Chair of

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<v Speaker 1>the Federal Reserve, Lyle brainerd. Inflation has declined in recent months,

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<v Speaker 1>but inflation is very high and it's going to take

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<v Speaker 1>time and resolve to get it back. And Vice Chair

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<v Speaker 1>Lyle brainer did not explicitly state a preference for the

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<v Speaker 1>size of the Fed's next rate. High traders are currently

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<v Speaker 1>pricing in a quarter point increase, the lowest yet in

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<v Speaker 1>the central banks current hiking cycle. We're wrapping up the

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<v Speaker 1>final day of the World Economic Forum today, Karen, and

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<v Speaker 1>one message is becoming clear. At Davos. Finance executives say

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<v Speaker 1>they now see reasons to be upbeat. We caught up

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<v Speaker 1>with Bank of America CEO Brian moynihan in the US

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<v Speaker 1>research team, which is the best in the business, as

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<v Speaker 1>a mild recession predicted sort of mid this year. In

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<v Speaker 1>next year, they pushed that out, and so why they

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<v Speaker 1>keep pushing out It's the strength of the US consumer.

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<v Speaker 1>They have the FED getting over five five five and

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<v Speaker 1>a quarter. Just this week, they moved at to three

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<v Speaker 1>bases point great rise as opposed to fifty. Bank of

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<v Speaker 1>America's CEO Brian moynihan spoke with Bloomberg's David Weston in Davos.

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<v Speaker 1>He joins Morgan Stanley's James Gorman and City Groups Jane

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<v Speaker 1>Frasier with signs of conscious optimism. Well. Speaking of Wall

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<v Speaker 1>Street's CEO, S Nathan JP, Morgan Chase is out with

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<v Speaker 1>fresh details on Jamie Diamond's pay. The bank is keeping

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<v Speaker 1>the CEO's total compensation unchanged. He'll get thirty four and

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<v Speaker 1>a half million for his work in two. It's a

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<v Speaker 1>year where the firm's profit fell by almost a quarter.

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<v Speaker 1>In JP Morgan Stock notched its worst annual performance in

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<v Speaker 1>more than a decade. Let's turn to crypto now, Karen

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<v Speaker 1>and another firm in the space filing for bankruptcy. It's

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<v Speaker 1>the latest fallout from the collapse of f t X Bloomberg.

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<v Speaker 1>Steve Rappaport joins US Live with the details. Good morning,

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<v Speaker 1>see Good Morning, Nathan and Karen. Genesis Global goes broke,

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<v Speaker 1>filing for Chapter eleven protection to keep running while the

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<v Speaker 1>crypto lender works to repay creditors. Genesis, in a statement,

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<v Speaker 1>says creditors will end up owning the reorganized business if

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<v Speaker 1>it fails to sell assets or raise money. The company

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<v Speaker 1>has one fifty million dollars to fund itself in bankruptcy.

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<v Speaker 1>Back in November, Genesis warned potential investors it was running

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<v Speaker 1>dry after ft X went under and halted customer withdrawals

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<v Speaker 1>to stay afloat. Live in New York. I'm Steve Rappaport,

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<v Speaker 1>Bloomberg Daybreak. It is forty degrees in Central Park. Clouds

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<v Speaker 1>breeze today, maybe a lingering shower. We'll get into the

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<v Speaker 1>upper forties. It'll turn partly cloudy tonight with a lone

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<v Speaker 1>near thirty five. Time now to take a look at

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<v Speaker 1>some of the other stories making news in New York

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<v Speaker 1>and around the world. Good morning, Amy Morris, Good morning,

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<v Speaker 1>Nathan Hagar. A federal judge has ruled Donald Trump has

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<v Speaker 1>to pay nearly a billion dollars for filing a bogus lawsuit.

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<v Speaker 1>The judge says the suit against Hillary Clinton and dozens

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<v Speaker 1>of the former presidents perceived political enemies was quote brought

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<v Speaker 1>in bad faith for an improper purpose. The New York

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<v Speaker 1>Times report The ruling was the latest setback for Trump,

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<v Speaker 1>who also faces a broad range of legal problems and

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<v Speaker 1>criminal investigations, and his lawyers are increasingly under scrutiny themselves

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<v Speaker 1>for their actions in those cases. New York State has

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<v Speaker 1>collected seven point seven billion dollars more in taxes in

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<v Speaker 1>the first nine months of the fiscal year than forecast.

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<v Speaker 1>State Comptroller Thomas Dinnapoli says much of that was from

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<v Speaker 1>personal income tax collections and that the tax collections are

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<v Speaker 1>exceeding expectations, but that concerns of an economic downturn create uncertainty.

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<v Speaker 1>A slowdown on Wall Street, lower banker bonuses, and a

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<v Speaker 1>potential recession could up end the state's finances. New York

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<v Speaker 1>Governor Kathy Hokel wants to bring one Buffalo Bill's player

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<v Speaker 1>to New York City. The governor was at an event

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<v Speaker 1>in East Harlem when she talked with Damar Hamlin. She

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<v Speaker 1>says he wants to use the gift of his story

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<v Speaker 1>to inspire others, and I said, you can be a

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<v Speaker 1>great voice to join with me and letting you know

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<v Speaker 1>people know that through sports or music, can culture and dance.

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<v Speaker 1>At places like this, they can have a better outcome,

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<v Speaker 1>so so I'm going to get him up here. Don't

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<v Speaker 1>know when Hamlin suffered cardiac arrest on the field during

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<v Speaker 1>a primetime game between the Bills and the Cincinnati Bengals.

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<v Speaker 1>He tweeted later that he is excited to see how

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<v Speaker 1>their future collaborations will help Nasall County officials are pen

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<v Speaker 1>pointing the source of an increase in overdoses over the

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<v Speaker 1>past week. Police and health officials say many of the

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<v Speaker 1>recent overdoses are linked to counterfeit prescription pills or presses.

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<v Speaker 1>The pills that are being circulated may contain fentonil and

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<v Speaker 1>could be deadly. Global news twenty four hours a day

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<v Speaker 1>on air and on Bloomberg Quicktake, powered by more than

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<v Speaker 1>twenty journalists and analysts and more than one twenty countries.

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<v Speaker 1>I'm maybe Morris, this is Bloomberg. Nathan all right, Amy,

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<v Speaker 1>thank you time now for our Bloomberg Sports update, brought

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<v Speaker 1>to you by try Stay Dutie for that and bring

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<v Speaker 1>in John stash Our all Nathan, thanks. The Giants either

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<v Speaker 1>today hit the Turnpike heading South playoff game tomorrow night

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<v Speaker 1>with their division Riyals. Giants have lost their last nine

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<v Speaker 1>games that they have played in Philadelphia. The Giants quarterback

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<v Speaker 1>is Daniel Jones. Game is different. You know, I think

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<v Speaker 1>UH will approach this um like we would any other game.

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<v Speaker 1>But but they're good, good team. It's a good environment. Uh.

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<v Speaker 1>They bring a lot of energy. Fans are passionate UM.

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<v Speaker 1>But like any road game, will prepare for that and

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<v Speaker 1>be able to uh, you know, handle that UM as

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<v Speaker 1>part of the game. The Eagles, top seeds in the NFC,

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<v Speaker 1>beat the Giants twice this year. They had a by

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<v Speaker 1>last week's fifth ever playoff game between the two teams,

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<v Speaker 1>and they both won twice. Sunday in the NFC, it's

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<v Speaker 1>Dallas at San Francisco. Will see how Brett Maher kicks

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<v Speaker 1>for the Cowboys coming off four missed extra points. The

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<v Speaker 1>Cowboys did sign another kicker, but they say Maher made

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<v Speaker 1>all his kicks yesterday in practice. A blow to the

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<v Speaker 1>next center Mitchell Robinson, key player with his defense and rebound.

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<v Speaker 1>He's got a broken thumb, likely to miss a month.

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<v Speaker 1>Nick's played tonight in Atlanta. The networ in Phoenix. The

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<v Speaker 1>Sun's let by twenty and the third quarter then held

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<v Speaker 1>on one seventeen to one twelve, and the Nets are

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<v Speaker 1>owing four since the Kevin Duran injury at the Garden,

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<v Speaker 1>Rangers didn't score until late They lost to the Bruins,

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<v Speaker 1>of the best record in the NHL, three to one.

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<v Speaker 1>Devil's lost in overtime at Seattle for three in the

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<v Speaker 1>Islanders a three two overtime lost in Buffalo as the

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<v Speaker 1>Sabers scored twelve seconds into ot College hoops. The Rutgers

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<v Speaker 1>lost at Michigan State seventy to fifty seven. The x

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<v Speaker 1>Yankee closed our oldest Chapman signed with Kansas City Coco

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<v Speaker 1>Golf into the third round our fourth round at the

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<v Speaker 1>Australian Open. On Jabber, second seed on the women's side,

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<v Speaker 1>lost her match John Stashward Bloomberg Sports live from coast

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<v Speaker 1>to coast, from New York to San Francisco, Boston to Washington,

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<v Speaker 1>d C. Nationwide on Sirius x AMP, the Bloomberg Business app,

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<v Speaker 1>and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning.

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<v Speaker 1>I'm Nathan Hager, and we want to take you back

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<v Speaker 1>to Davos now to bring you our interview with Senator

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<v Speaker 1>Joe o Manship, the Democrat from West Virginia. He spoke

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<v Speaker 1>with Bloomberg's David weston about his call for a bipartisan

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<v Speaker 1>solution to avert a government default that threatens to jolt

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<v Speaker 1>global markets. Man should also addressed questions about his plans

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<v Speaker 1>for re election next year. Let's listen into that conversation. Now,

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<v Speaker 1>we will pay our debts. We always have, We always will.

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<v Speaker 1>How mess is going to get getting from point A

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<v Speaker 1>to point B, we don't know yet. But I'd like

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<v Speaker 1>to see really truly a coalition of a bipartisan bicameral

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<v Speaker 1>Democrats and Republicans putting a group together that says we're

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<v Speaker 1>gonna look at all the trust funds to find out

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<v Speaker 1>the deficiencies when they're going to be insolvent and what

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<v Speaker 1>we can do to prevent that, and then basically have

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<v Speaker 1>a piece of legislation that we're saying, Okay, we will

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<v Speaker 1>make this deal, will raise the debt setting if you

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<v Speaker 1>allow us to have give the American public a look

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<v Speaker 1>at what we're dealing with and recommendations will make and

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<v Speaker 1>have a vote on the floor whether it goes up

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<v Speaker 1>or not. But at least it identifies it's serious. And

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<v Speaker 1>the same thing with the thirty one plus trillion dollars

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<v Speaker 1>of debt. So that sounds a little bit like some

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<v Speaker 1>commissions we've seen in the past, like base closings and

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<v Speaker 1>on Social Security. Where are you on that? Are you

0:12:07.840 --> 0:12:10.480
<v Speaker 1>starting to put that together the prospect. I'm just strolling

0:12:10.520 --> 0:12:13.400
<v Speaker 1>it out to make people. My dear friend Mitt Romney

0:12:13.480 --> 0:12:15.480
<v Speaker 1>has been working on the Trust Act. I joined him

0:12:15.480 --> 0:12:18.160
<v Speaker 1>on that. I think it's it's tremendous to identify that

0:12:18.240 --> 0:12:21.240
<v Speaker 1>we've got social Security and Medicare, we got the Highway trust.

0:12:21.360 --> 0:12:23.679
<v Speaker 1>He's been very good leading that, And we talked about

0:12:23.920 --> 0:12:28.760
<v Speaker 1>remember the old uh the bowls Simpson, let's look at

0:12:28.760 --> 0:12:30.600
<v Speaker 1>a hybrid of something that we're gonna have to agree

0:12:30.679 --> 0:12:33.280
<v Speaker 1>that we have a tremendous amount of debt that we're

0:12:33.280 --> 0:12:36.600
<v Speaker 1>writing checks our kids can't cash. So if you want

0:12:36.679 --> 0:12:39.800
<v Speaker 1>to have concerns about should we or should we not,

0:12:39.960 --> 0:12:42.640
<v Speaker 1>absolutely we should. We should pay our debts. Should we

0:12:42.640 --> 0:12:44.959
<v Speaker 1>allow him to grow disproportionately to where we have more

0:12:45.000 --> 0:12:47.440
<v Speaker 1>trouble every year? Coming to that conclusion to pay the

0:12:47.440 --> 0:12:50.120
<v Speaker 1>debts when we could have done something Kevin McCarthy is

0:12:50.160 --> 0:12:52.760
<v Speaker 1>a wonderful opportunity for him to say, listen, let's act

0:12:52.800 --> 0:12:55.319
<v Speaker 1>like adults. We've got a debt. Whose foot fault? We're

0:12:55.320 --> 0:12:57.960
<v Speaker 1>all at fault. How do we fix it together and

0:12:58.000 --> 0:13:00.480
<v Speaker 1>move forward? Well, that sounds like eminently good sense to me.

0:13:00.559 --> 0:13:03.080
<v Speaker 1>Do you have time because we've heard from Janiellary already

0:13:03.120 --> 0:13:06.000
<v Speaker 1>she's taking extraordinary measures. There's a speculation about June July

0:13:06.120 --> 0:13:07.760
<v Speaker 1>we're gonna actually run out of the money. Do you

0:13:07.760 --> 0:13:10.800
<v Speaker 1>have time to get all that accomplisutions described before. We're

0:13:10.840 --> 0:13:13.679
<v Speaker 1>not talking about bills. We're talking about basically a framework

0:13:14.000 --> 0:13:15.640
<v Speaker 1>to bring a bill to the floor within a ninety

0:13:15.679 --> 0:13:18.320
<v Speaker 1>day period. If we agree, yes, we're gonna do. Target

0:13:18.400 --> 0:13:21.040
<v Speaker 1>that we're talking of the trust. Make sure that we

0:13:21.240 --> 0:13:24.160
<v Speaker 1>know what we're dealing with. We're gonna target basically the

0:13:24.240 --> 0:13:26.440
<v Speaker 1>debt and increasing of the debt to how we can

0:13:26.480 --> 0:13:30.000
<v Speaker 1>basically prevent that from continue to increase as it does

0:13:30.040 --> 0:13:32.480
<v Speaker 1>and started downward trend. And there has to be some

0:13:32.520 --> 0:13:34.960
<v Speaker 1>discipline and there has to be some sacrifice. What about

0:13:35.000 --> 0:13:37.560
<v Speaker 1>strings attached to an increase in the debt? Selling along

0:13:37.600 --> 0:13:39.240
<v Speaker 1>lines you're saying, say that we don't have time to

0:13:39.280 --> 0:13:41.560
<v Speaker 1>get all the work done, get all the approvals through,

0:13:41.920 --> 0:13:44.000
<v Speaker 1>but we want a commitment that we're going to go

0:13:44.000 --> 0:13:46.280
<v Speaker 1>on the path you're describing right now. If you were increased,

0:13:46.360 --> 0:13:48.160
<v Speaker 1>if you come here and says we're gonna cut military,

0:13:48.200 --> 0:13:50.560
<v Speaker 1>We're gonna cut the Social Security in and all the

0:13:50.600 --> 0:13:53.240
<v Speaker 1>different safety things. You have to have your military for

0:13:53.240 --> 0:13:55.840
<v Speaker 1>the defense. We have an a geo political unrest. You're

0:13:55.920 --> 0:13:58.720
<v Speaker 1>not going to leave senior citizens who have worked and

0:13:58.720 --> 0:14:01.680
<v Speaker 1>paid into it stranded. So quick talking and scaring them

0:14:01.800 --> 0:14:05.440
<v Speaker 1>Jesus out of people. Find a path that works, and

0:14:05.480 --> 0:14:07.480
<v Speaker 1>you can't do it, just okay, here's we gotta do.

0:14:07.679 --> 0:14:09.840
<v Speaker 1>If you do this, then I'll vote for If you

0:14:09.880 --> 0:14:12.280
<v Speaker 1>don't do this, I'm gonna vote against it. I'm not

0:14:12.280 --> 0:14:15.600
<v Speaker 1>going to hold hostage. I want to get a reasonable

0:14:15.880 --> 0:14:19.600
<v Speaker 1>approach to find something that has long lasting and has results,

0:14:19.800 --> 0:14:22.360
<v Speaker 1>long lasting results. What about the White House? What the present?

0:14:22.360 --> 0:14:25.160
<v Speaker 1>But saying we're not gonna even negotiate, I'm not sure

0:14:25.160 --> 0:14:27.080
<v Speaker 1>how that works right now. What he's saying on negotiation,

0:14:27.160 --> 0:14:28.720
<v Speaker 1>he don't he's not. I don't blame it. Don't be

0:14:28.800 --> 0:14:31.520
<v Speaker 1>held hostage. They shouldn't be held hostage. You can't help

0:14:31.960 --> 0:14:34.520
<v Speaker 1>You can't hold the good faith of the greatest economy

0:14:34.560 --> 0:14:38.400
<v Speaker 1>in the world hostage by saying we're gonna destroy your

0:14:38.440 --> 0:14:40.640
<v Speaker 1>credit ratings. But the rest of the world and how

0:14:40.680 --> 0:14:42.840
<v Speaker 1>they think about our country, how they investor buy our

0:14:42.920 --> 0:14:45.800
<v Speaker 1>bonds and and and things of that sort, that that's

0:14:45.840 --> 0:14:48.360
<v Speaker 1>something that can happen. It was done in two thousand eleven,

0:14:48.400 --> 0:14:51.200
<v Speaker 1>two thou thirteen, it didn't work out. Well, why would

0:14:51.200 --> 0:14:53.280
<v Speaker 1>they try to get But there's an awful lot of

0:14:53.360 --> 0:14:56.920
<v Speaker 1>leverage to do something very very constructive that will be productive.

0:14:57.840 --> 0:14:59.400
<v Speaker 1>There are others that are willing to join. I think

0:14:59.400 --> 0:15:01.880
<v Speaker 1>there is, I there's there's there's a growing amount of

0:15:01.880 --> 0:15:03.720
<v Speaker 1>people that would like to say, Okay, how do we

0:15:03.800 --> 0:15:06.440
<v Speaker 1>fix this. I don't know until I get Democrats and

0:15:06.480 --> 0:15:09.560
<v Speaker 1>Republicans who are like mine that put the country before

0:15:09.560 --> 0:15:11.880
<v Speaker 1>the party. But if you're just thinking, well let me

0:15:11.920 --> 0:15:13.760
<v Speaker 1>see if we don't fix this, I can blame you

0:15:13.800 --> 0:15:15.680
<v Speaker 1>for that. And if you're a d or and are,

0:15:15.720 --> 0:15:17.600
<v Speaker 1>you're blaming one side or the other. So you're not

0:15:17.600 --> 0:15:21.080
<v Speaker 1>looking for solutions. You're looking at basically create more chaos

0:15:21.160 --> 0:15:23.560
<v Speaker 1>within the political and that's not what we need right now.

0:15:23.840 --> 0:15:27.040
<v Speaker 1>And I'm hoping that Kevin I'm I didn't tell Kevin

0:15:27.080 --> 0:15:28.920
<v Speaker 1>McArthur right now, whatever I can do to help you

0:15:28.960 --> 0:15:32.160
<v Speaker 1>and work with you, I want you to succeed election.

0:15:32.680 --> 0:15:38.440
<v Speaker 1>You get the wild one Democrat. I really haven't made

0:15:38.440 --> 0:15:42.320
<v Speaker 1>that decision. I really haven't. I'm I'm so engaged basically

0:15:42.320 --> 0:15:44.320
<v Speaker 1>in trying to bring this country together, to unite the

0:15:44.360 --> 0:15:47.960
<v Speaker 1>country to where people aren't afraid to say, hey day,

0:15:48.040 --> 0:15:49.640
<v Speaker 1>that makes sense. I'm gonna work with you on that.

0:15:49.760 --> 0:15:52.040
<v Speaker 1>It might be a the opposite party. They're almost afraid

0:15:52.080 --> 0:15:55.280
<v Speaker 1>to have a conversation. It used to be it used

0:15:55.320 --> 0:15:59.680
<v Speaker 1>to be guilt by by association. Now it's guilt by conversation.

0:16:00.680 --> 0:16:03.040
<v Speaker 1>That's awful. So we've got it. We've got to bring

0:16:03.080 --> 0:16:07.960
<v Speaker 1>this back. This is Bloomberg Daybreak Today, your morning brief

0:16:08.000 --> 0:16:10.920
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0:16:50.160 --> 0:16:53.640
<v Speaker 1>Hager and I'm Karen Moscow. Join us again tomorrow morning

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