1 00:00:03,120 --> 00:00:11,840 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The US presidential election 2 00:00:12,080 --> 00:00:15,040 Speaker 1: is less than a month away, and most major polls, 3 00:00:15,240 --> 00:00:18,799 Speaker 1: including surveys conducted by Bloomberg and Morning Consults, indicate the 4 00:00:18,880 --> 00:00:23,560 Speaker 1: race is incredibly close. Most importantly in the seven Swing States, 5 00:00:24,200 --> 00:00:27,400 Speaker 1: the persistent number one issue for voters is the economy. 6 00:00:27,800 --> 00:00:31,120 Speaker 1: Vice President Kamala Harris and former President Donald Trump are 7 00:00:31,160 --> 00:00:34,240 Speaker 1: putting it front and center as they crisscross the country 8 00:00:34,280 --> 00:00:37,360 Speaker 1: in the final weeks of the campaign, and on Tuesday, 9 00:00:37,600 --> 00:00:40,040 Speaker 1: Trump sat down for an interview at the Economic Club 10 00:00:40,080 --> 00:00:44,040 Speaker 1: of Chicago with Bloomberg editor in chief John micklethway. 11 00:00:44,240 --> 00:00:47,199 Speaker 2: We're going to focus on business and the economy, and 12 00:00:47,240 --> 00:00:50,880 Speaker 2: that's partly because this is a business audience. It is 13 00:00:50,920 --> 00:00:54,680 Speaker 2: also because voters insist that the economy is the main 14 00:00:54,800 --> 00:00:58,240 Speaker 2: issue that matters when they vote. 15 00:00:58,320 --> 00:01:01,760 Speaker 1: For about an hour, asked Trump about his platform. They 16 00:01:01,840 --> 00:01:05,640 Speaker 1: talked about tariffs and immigration and the so called Trump Trade. 17 00:01:05,720 --> 00:01:08,240 Speaker 1: John also noted that Bloomberg and the Economic Club of 18 00:01:08,319 --> 00:01:11,760 Speaker 1: Chicago have invited Harris to participate in a similar event 19 00:01:12,319 --> 00:01:14,360 Speaker 1: and that invitation remains open. 20 00:01:15,440 --> 00:01:19,840 Speaker 2: So on that note, let me invite on stage President Trump. 21 00:01:26,720 --> 00:01:29,399 Speaker 1: This is the big take from Bloomberg News. I'm David Gera. 22 00:01:30,000 --> 00:01:33,680 Speaker 1: On today's episode, Bloomberg editor in chief John Micklethwaite's interview 23 00:01:33,840 --> 00:01:37,839 Speaker 1: with former President Donald Trump. It's been condensed for this podcast. 24 00:01:38,160 --> 00:01:41,200 Speaker 1: You can hear the full conversation at Bloomberg dot com 25 00:01:41,240 --> 00:01:49,880 Speaker 1: and on the Bloomberg terminal. Former President Trump has proposed 26 00:01:49,920 --> 00:01:52,640 Speaker 1: a series of changes to the tax code. He said 27 00:01:52,640 --> 00:01:55,840 Speaker 1: the US should eliminate taxes on tips, for instance. He 28 00:01:55,960 --> 00:01:59,080 Speaker 1: said interest on car loan should be tax deductible like 29 00:01:59,160 --> 00:02:01,840 Speaker 1: mortgage interest, and Trump is said he's in favor of 30 00:02:01,880 --> 00:02:04,600 Speaker 1: removing a ten thousand dollars cap on the state and 31 00:02:04,680 --> 00:02:07,840 Speaker 1: local tax deduction, a limit by the way he put 32 00:02:07,880 --> 00:02:11,000 Speaker 1: in place when he was the president. He's offered limited 33 00:02:11,040 --> 00:02:13,680 Speaker 1: detail on how he'd pay for these tax cuts, which 34 00:02:13,720 --> 00:02:17,200 Speaker 1: Congress would have to approve. John started the interview by 35 00:02:17,240 --> 00:02:20,320 Speaker 1: asking the former president how he plans to cover the cost. 36 00:02:20,600 --> 00:02:24,240 Speaker 2: The Committee for Responsible Federal Budget, which is a bipartisan outfit, 37 00:02:25,240 --> 00:02:27,320 Speaker 2: put some predictions the other day. If you add up 38 00:02:27,360 --> 00:02:30,680 Speaker 2: all the promises you've made and your plans would add 39 00:02:30,760 --> 00:02:35,200 Speaker 2: seven point five trillion dollars to the debt. That's more 40 00:02:35,200 --> 00:02:39,720 Speaker 2: than twice the total for Vice President Harris, you're on 41 00:02:39,840 --> 00:02:41,760 Speaker 2: course to push up debts up to one hundred and 42 00:02:41,800 --> 00:02:45,720 Speaker 2: fifty percent of GDP. This is a very business like audience. 43 00:02:45,960 --> 00:02:47,200 Speaker 2: Why should they trust you with that? 44 00:02:47,680 --> 00:02:50,920 Speaker 3: Because we're about growth. She's got no growth whatsoever, and 45 00:02:50,960 --> 00:02:53,919 Speaker 3: we're all about growth. We're going to bring companies back 46 00:02:53,960 --> 00:02:56,919 Speaker 3: to our country. You look at even today as I 47 00:02:56,919 --> 00:03:00,360 Speaker 3: was driving over, I see these empty, old, beautiful like 48 00:03:00,440 --> 00:03:04,000 Speaker 3: steel mills and factories that are empty and falling down. 49 00:03:05,000 --> 00:03:07,760 Speaker 3: Some have been converted to senior citizens' homes. But that's 50 00:03:07,800 --> 00:03:09,720 Speaker 3: not going to do the trick. And we're going to 51 00:03:09,720 --> 00:03:12,600 Speaker 3: bring the companies back. We're going to lower taxes still 52 00:03:12,639 --> 00:03:15,560 Speaker 3: further for companies that are going to make their product 53 00:03:15,919 --> 00:03:19,360 Speaker 3: in the USA. We're going to protect those companies with 54 00:03:19,480 --> 00:03:22,840 Speaker 3: strong tariffs. Because I'm a believer in tariffs. I'm not 55 00:03:22,880 --> 00:03:24,680 Speaker 3: sure that you are. I don't think you are, but 56 00:03:25,040 --> 00:03:29,840 Speaker 3: I congratulate you in your career. But to me, the 57 00:03:29,880 --> 00:03:33,839 Speaker 3: most beautiful word in the dictionary is tariff, and it's 58 00:03:33,880 --> 00:03:39,720 Speaker 3: my favorite word. It needs a public relations firm just 59 00:03:39,760 --> 00:03:43,280 Speaker 3: to help, but it's the most beautiful word in the tariffs. 60 00:03:43,280 --> 00:03:45,040 Speaker 2: Do you think that will bring in the revenues to 61 00:03:45,160 --> 00:03:48,800 Speaker 2: use another bipartisan group. Yeah, I said, I only bring 62 00:03:48,800 --> 00:03:52,120 Speaker 2: in two hundred billion dollars that is only that's barely 63 00:03:52,160 --> 00:03:53,680 Speaker 2: the cost of two of your promises. 64 00:03:53,920 --> 00:03:57,560 Speaker 3: Yeah, but that's like for what company you're talking about. Okay, look, 65 00:03:57,600 --> 00:04:00,240 Speaker 3: I've I've brought in with tariffs and I was just 66 00:04:00,280 --> 00:04:03,760 Speaker 3: getting started. Then COVID came and we had a which 67 00:04:03,840 --> 00:04:05,360 Speaker 3: you know, because I tell you what, I did a 68 00:04:05,440 --> 00:04:07,360 Speaker 3: very good job in COVID. Nobody knew what the hell 69 00:04:07,400 --> 00:04:09,240 Speaker 3: it was. I call it the China virus because I 70 00:04:09,360 --> 00:04:12,560 Speaker 3: like being a little more accurate. But when that came, 71 00:04:12,640 --> 00:04:16,680 Speaker 3: but we got hundreds of billions of dollars just from 72 00:04:16,760 --> 00:04:20,240 Speaker 3: China alone, and I hadn't even started yet. But tarif's 73 00:04:20,240 --> 00:04:23,680 Speaker 3: are two two things if you look at it. Number 74 00:04:23,720 --> 00:04:26,039 Speaker 3: one is for protection of the companies that we have 75 00:04:26,600 --> 00:04:28,960 Speaker 3: here and the new companies that will move in, because 76 00:04:29,000 --> 00:04:32,320 Speaker 3: we're going to have thousands of companies coming into this country. 77 00:04:32,360 --> 00:04:34,720 Speaker 3: We're going to grow it like it's never grown before. 78 00:04:35,279 --> 00:04:37,120 Speaker 3: And we're going to protect them when they come in 79 00:04:37,200 --> 00:04:39,520 Speaker 3: because we're not going to have somebody undercut them. 80 00:04:39,960 --> 00:04:42,919 Speaker 1: Here from shared and anecdotes. To illustrate his point, he 81 00:04:43,000 --> 00:04:46,840 Speaker 1: described a friend who builds car factories. That story, which 82 00:04:46,839 --> 00:04:49,880 Speaker 1: we weren't able to verify, went on for several minutes. 83 00:04:50,760 --> 00:04:53,160 Speaker 2: I let you give your example. Yeah, you talked a 84 00:04:53,200 --> 00:04:56,120 Speaker 2: lot about tariff's. You look at the American economy. Forty 85 00:04:56,160 --> 00:04:59,360 Speaker 2: million jobs rely on trade. It counts for twenty seven 86 00:04:59,360 --> 00:05:02,680 Speaker 2: percent of g If you cut that off, that's also 87 00:05:02,720 --> 00:05:06,120 Speaker 2: going to effect on many many business people here. Tariffs 88 00:05:06,200 --> 00:05:09,280 Speaker 2: also have another side. Isn't that something that you have 89 00:05:09,320 --> 00:05:12,000 Speaker 2: to acknowledge? You could be plunging America into the biggest 90 00:05:12,000 --> 00:05:15,720 Speaker 2: trade war since Smooththall you're going to stop, You're going 91 00:05:15,760 --> 00:05:17,320 Speaker 2: to there are tariffs already. 92 00:05:17,040 --> 00:05:18,800 Speaker 3: There are terriffs. All you have to do is build 93 00:05:18,839 --> 00:05:20,719 Speaker 3: your plant in the United States and you don't have 94 00:05:20,760 --> 00:05:21,520 Speaker 3: any tariffs. 95 00:05:22,200 --> 00:05:24,640 Speaker 2: People, there's a lot of places, a lot of places 96 00:05:24,680 --> 00:05:26,640 Speaker 2: like this, they rely There are a lot of jobs 97 00:05:26,640 --> 00:05:29,160 Speaker 2: that rely on foreigners coming here. You're going to basically 98 00:05:29,240 --> 00:05:33,360 Speaker 2: stop trade with China. You're talking about sixty percent trade 99 00:05:33,360 --> 00:05:35,560 Speaker 2: on that, sixty plent tariffs on that. You're talking, as 100 00:05:35,560 --> 00:05:38,080 Speaker 2: you said, one hundred two hundred percent of things you 101 00:05:38,120 --> 00:05:41,040 Speaker 2: don't really like. You're also talking about twenty ten, twenty 102 00:05:41,080 --> 00:05:43,599 Speaker 2: percent tariffs on the rest of the world. That is 103 00:05:43,640 --> 00:05:45,960 Speaker 2: going to have a serious effect on the overall economy. 104 00:05:45,960 --> 00:05:48,200 Speaker 2: And yes, you're going to find some people who were 105 00:05:48,240 --> 00:05:52,360 Speaker 2: gained from individual tariffs. The overall effect could be massive. 106 00:05:53,279 --> 00:05:56,800 Speaker 3: I agree, it's going to have a massive effect. Positive effect. 107 00:05:57,040 --> 00:06:00,279 Speaker 3: It's going to be a positive Let me just no, no, 108 00:06:00,360 --> 00:06:02,040 Speaker 3: let me tell me. I know how committed you are 109 00:06:02,040 --> 00:06:04,000 Speaker 3: to this, and it must be hard for you to, 110 00:06:04,120 --> 00:06:06,320 Speaker 3: you know, spend twenty five years talking about tariffs has 111 00:06:06,320 --> 00:06:08,960 Speaker 3: been negative and then have somebody explained to you that 112 00:06:09,000 --> 00:06:09,839 Speaker 3: you're totally wrong. 113 00:06:10,240 --> 00:06:15,040 Speaker 4: It'll have a negative, it will have other course if 114 00:06:15,040 --> 00:06:19,080 Speaker 4: you don't do this. Fourteen million jobs. There's a lot 115 00:06:19,120 --> 00:06:21,520 Speaker 4: of jobs to rely on. They're all coming back now. 116 00:06:21,520 --> 00:06:23,920 Speaker 2: If you belong jobs, those are fourteen million jobs in 117 00:06:24,000 --> 00:06:26,679 Speaker 2: America that rely on Ready. 118 00:06:26,880 --> 00:06:30,760 Speaker 3: John Deere, great company. They announced about a year ago 119 00:06:30,760 --> 00:06:34,480 Speaker 3: they're going to build big plants outside of the United States. Right, 120 00:06:34,480 --> 00:06:35,919 Speaker 3: They're going to build them in Mexican. 121 00:06:36,040 --> 00:06:38,680 Speaker 2: You thresh they're also going to build they still that's right. 122 00:06:38,600 --> 00:06:41,039 Speaker 3: I said, if John Deere builds those plants and not 123 00:06:41,120 --> 00:06:44,720 Speaker 3: selling anything into the United States. They just announced yesterday 124 00:06:44,720 --> 00:06:47,200 Speaker 3: they're probably not going to build the plants. Okay, I 125 00:06:47,320 --> 00:06:50,080 Speaker 3: kept the judge jobs here, and I'll keep them. John 126 00:06:50,120 --> 00:06:52,520 Speaker 3: Deere will stay here, and I'll tell John Deere if 127 00:06:52,560 --> 00:06:54,919 Speaker 3: you do build outside of the United States, you can 128 00:06:55,120 --> 00:06:55,680 Speaker 3: if you want. 129 00:06:55,760 --> 00:06:59,080 Speaker 1: For instance, the manufacturer responded to Trump's thread of tariffs 130 00:06:59,080 --> 00:07:02,279 Speaker 1: back in September, saying that less than five percent of 131 00:07:02,279 --> 00:07:05,640 Speaker 1: its US sales were manufactured in Mexico. They did not 132 00:07:05,720 --> 00:07:08,440 Speaker 1: make an announcement about plans in Mexico. The day before 133 00:07:08,440 --> 00:07:11,720 Speaker 1: Trump's interview, Trump went on to discuss trade deals with 134 00:07:11,800 --> 00:07:15,240 Speaker 1: India and China. Then he offered his assessment of US 135 00:07:15,280 --> 00:07:19,200 Speaker 1: trade deals with European countries. He believes there's an imbalance 136 00:07:19,240 --> 00:07:21,840 Speaker 1: between goods that come from other countries to the US, 137 00:07:22,040 --> 00:07:25,880 Speaker 1: including cars, and how many similar US made goods are 138 00:07:25,920 --> 00:07:30,000 Speaker 1: available in those countries. This interview continues in a moment 139 00:07:40,120 --> 00:07:43,040 Speaker 1: We've been playing key moments from Bloomberg editor in chief 140 00:07:43,080 --> 00:07:47,239 Speaker 1: John Micklethwaite's interview on Tuesday with former President Donald Trump. 141 00:07:47,800 --> 00:07:51,160 Speaker 1: Before the break, John was asking Trump about his proposal 142 00:07:51,240 --> 00:07:53,080 Speaker 1: to increase the use of tariffs. 143 00:07:53,240 --> 00:07:55,760 Speaker 2: What about consumers? People out there, They're going to be 144 00:07:55,800 --> 00:07:58,920 Speaker 2: the biggest textition. Critics say, your tariffs will end up 145 00:07:58,920 --> 00:08:02,160 Speaker 2: being like a national sale tax. Because the country had 146 00:08:02,400 --> 00:08:05,640 Speaker 2: If you have America the moment has three trillion dollars 147 00:08:05,640 --> 00:08:08,120 Speaker 2: worth of imputs. You're going to add tariffs to every 148 00:08:08,120 --> 00:08:09,840 Speaker 2: single one of them. That is going to push up 149 00:08:10,200 --> 00:08:11,960 Speaker 2: the cost for all those people who want to buy 150 00:08:11,960 --> 00:08:16,280 Speaker 2: foreign goods. Is just simple mathematics, present drump It's not this, Yeah, 151 00:08:16,280 --> 00:08:18,400 Speaker 2: it is, but not the way you've figured that was 152 00:08:18,440 --> 00:08:19,880 Speaker 2: always very good in mathematics. 153 00:08:20,120 --> 00:08:22,880 Speaker 3: Let me tell you you're saying three trainia, those company 154 00:08:23,880 --> 00:08:25,880 Speaker 3: it and they don't have to pay. And if by 155 00:08:26,200 --> 00:08:29,320 Speaker 3: the higher the tariff, the more likely it is to 156 00:08:29,760 --> 00:08:30,920 Speaker 3: have them come into. 157 00:08:30,760 --> 00:08:32,480 Speaker 2: The higher the tariff, the more you're going to put 158 00:08:32,520 --> 00:08:35,360 Speaker 2: on the value of that those goods, the higher people 159 00:08:35,400 --> 00:08:36,800 Speaker 2: are get able to pay in shops. 160 00:08:37,960 --> 00:08:41,440 Speaker 3: Ready, the higher the tariff, the more likely it is 161 00:08:41,520 --> 00:08:44,040 Speaker 3: that the company will come into the United States and 162 00:08:44,160 --> 00:08:46,480 Speaker 3: build a factory in the United States so it doesn't 163 00:08:46,480 --> 00:08:48,280 Speaker 3: have to pay the terraff that will that. 164 00:08:48,240 --> 00:08:51,120 Speaker 2: Would take That would take many many, that would take 165 00:08:51,200 --> 00:08:51,960 Speaker 2: many years. 166 00:08:52,200 --> 00:08:54,920 Speaker 3: In fact, I'll tell you you know, there's another theory 167 00:08:55,040 --> 00:08:59,800 Speaker 3: is that the tariff you make it so high, so horrible, 168 00:09:00,000 --> 00:09:03,080 Speaker 3: oh obnoxious, that they'll come right away. When I do 169 00:09:03,160 --> 00:09:06,839 Speaker 3: the ten percent ten percent is really first of all, 170 00:09:06,920 --> 00:09:11,160 Speaker 3: ten percent when you collect it is hundreds of billions 171 00:09:11,160 --> 00:09:14,800 Speaker 3: of doc numbers that you're talking all reducing our deficit. 172 00:09:15,320 --> 00:09:17,760 Speaker 3: But really so, there's two ways of looking at a tariff. 173 00:09:18,120 --> 00:09:21,360 Speaker 3: You can do it as a money making instrument, or 174 00:09:21,400 --> 00:09:24,640 Speaker 3: you can do it as something to get the companies. Now, 175 00:09:24,720 --> 00:09:27,080 Speaker 3: if you want the companies to come in, the traff 176 00:09:27,080 --> 00:09:29,120 Speaker 3: has to be a lot higher than ten percent, because 177 00:09:29,160 --> 00:09:31,719 Speaker 3: ten percent is not enough. They're not going to do 178 00:09:31,760 --> 00:09:34,439 Speaker 3: it for ten But you make a fifty percent tariff, 179 00:09:34,480 --> 00:09:36,360 Speaker 3: they're going to come in. Let me tell you the 180 00:09:36,400 --> 00:09:39,559 Speaker 3: other thing about tariffs that's great are steel companies. As 181 00:09:39,600 --> 00:09:41,120 Speaker 3: you know, three four years ago, they were well go. 182 00:09:41,280 --> 00:09:44,240 Speaker 3: When I was in office, I saw a man from 183 00:09:44,320 --> 00:09:46,800 Speaker 3: a big steel company and he was devastated. I knew 184 00:09:46,840 --> 00:09:49,760 Speaker 3: him for a long time, and it's been a tough business. 185 00:09:49,760 --> 00:09:51,959 Speaker 3: It was a great business many years ago. And I 186 00:09:51,960 --> 00:09:54,680 Speaker 3: would not let you are still be sold to Japanese, 187 00:09:54,720 --> 00:09:57,640 Speaker 3: by the way, just psychologically, I think it. 188 00:09:57,600 --> 00:10:00,600 Speaker 4: Would be snipp on steel as you Yeah, I wouldn't 189 00:10:00,600 --> 00:10:00,880 Speaker 4: have led. 190 00:10:01,200 --> 00:10:03,319 Speaker 3: Yeah, I would have let it yourself. But I would 191 00:10:03,600 --> 00:10:07,280 Speaker 3: if I would stop it if it hasn't been completed 192 00:10:07,679 --> 00:10:09,680 Speaker 3: by the time I'm president, because I think it's such 193 00:10:09,720 --> 00:10:12,080 Speaker 3: a horrible tale. But I had a lot to do 194 00:10:12,160 --> 00:10:13,840 Speaker 3: with steel. We were going to lose all our steel 195 00:10:13,840 --> 00:10:16,800 Speaker 3: companies because China, as you remember, was dumping steel at 196 00:10:16,880 --> 00:10:20,079 Speaker 3: levels that nobody's ever seen before. And I put a 197 00:10:20,120 --> 00:10:24,760 Speaker 3: fifty percent tax on that and tariff on that all 198 00:10:24,880 --> 00:10:27,240 Speaker 3: dumped steel. And it was also bad steal. It was dirty. 199 00:10:27,280 --> 00:10:29,560 Speaker 3: What they called dirty steel was a good steal, which 200 00:10:29,600 --> 00:10:33,640 Speaker 3: is a bad thing for structural components of buildings and 201 00:10:33,640 --> 00:10:37,160 Speaker 3: planes and things like that. They were dumping crap into 202 00:10:37,200 --> 00:10:40,240 Speaker 3: our country. And I put a fifty percent tariff. I 203 00:10:40,240 --> 00:10:42,440 Speaker 3: started at twenty five. I raised it to fifty because 204 00:10:42,480 --> 00:10:44,840 Speaker 3: the twenty five didn't quite do it. I raised it 205 00:10:44,840 --> 00:10:48,640 Speaker 3: to fifty, and that did it. They stopped dumping steel, 206 00:10:48,960 --> 00:10:52,120 Speaker 3: and I saved our steel by having that, We saved it. 207 00:10:52,640 --> 00:10:55,680 Speaker 3: We saved our steel. Now what was left because we've 208 00:10:55,720 --> 00:10:58,560 Speaker 3: lost so much. But there are certain companies you have 209 00:10:58,640 --> 00:11:00,760 Speaker 3: to have. There are certain things you have to have. Still, 210 00:11:00,920 --> 00:11:03,600 Speaker 3: you have to have if you go to war. You 211 00:11:03,679 --> 00:11:05,440 Speaker 3: know there's a possibility you go to war. 212 00:11:05,760 --> 00:11:08,680 Speaker 1: Trump then repeated a version of a claim he's made often, 213 00:11:09,000 --> 00:11:12,560 Speaker 1: saying he's the only president in eighty two years who's 214 00:11:12,640 --> 00:11:16,080 Speaker 1: kept the US out of war, which is inaccurate. He 215 00:11:16,120 --> 00:11:18,079 Speaker 1: also claimed that the wars in Ukraine and the Middle 216 00:11:18,120 --> 00:11:20,480 Speaker 1: East wouldn't have happened if he were the president. 217 00:11:20,600 --> 00:11:22,440 Speaker 2: I was asking about tariffs. You've gone off by that. 218 00:11:22,440 --> 00:11:25,280 Speaker 2: Seeing you've brought up tariffs and foreign policy, many people 219 00:11:25,320 --> 00:11:29,679 Speaker 2: would say the biggest problem with your tariffs is actually geopolitics. 220 00:11:29,840 --> 00:11:32,920 Speaker 2: You in your first term, you've got some credit for 221 00:11:32,960 --> 00:11:36,440 Speaker 2: effectively saying that there was a Cold War against China. 222 00:11:36,480 --> 00:11:39,280 Speaker 2: That's what America was in You look at the last 223 00:11:39,360 --> 00:11:42,560 Speaker 2: Cold War against the Soviet Union. America won it in 224 00:11:42,600 --> 00:11:46,040 Speaker 2: part because it rallied allies to it. You're talking about 225 00:11:46,080 --> 00:11:51,320 Speaker 2: slamming allies with thir tariffs. Isn't this time you're going 226 00:11:51,360 --> 00:11:53,160 Speaker 2: to end up trying to rally the West and you're 227 00:11:53,200 --> 00:11:56,520 Speaker 2: dividing it instead. Isn't that the real problem with tariffs, 228 00:11:56,760 --> 00:11:59,319 Speaker 2: even beyond all the problems to the economy, where you 229 00:11:59,800 --> 00:12:02,720 Speaker 2: keep won't bring out these individual examples, but the overall 230 00:12:02,760 --> 00:12:06,439 Speaker 2: effect is going to be dramatic. The answer first about 231 00:12:06,440 --> 00:12:08,760 Speaker 2: foreign policies, I'll do that. How does it help you 232 00:12:08,800 --> 00:12:11,360 Speaker 2: take on China? Turning all your allies again. 233 00:12:11,160 --> 00:12:16,640 Speaker 3: Tremendously because China thinks we're stupid country, a very stupid country. 234 00:12:16,720 --> 00:12:19,720 Speaker 3: They can't believe that somebody finally got wise to them. 235 00:12:20,840 --> 00:12:25,840 Speaker 3: Not one president Bush Obama, Barack Husain Obama. Have you 236 00:12:25,880 --> 00:12:29,559 Speaker 3: heard of him? Not one president, not think of it, 237 00:12:29,760 --> 00:12:34,439 Speaker 3: Not one president charge China anything. They said, Oh, they 238 00:12:34,440 --> 00:12:37,760 Speaker 3: are third world nation, they're developing. Well, we're a developing 239 00:12:37,840 --> 00:12:40,240 Speaker 3: nation too. Take a look at Detroit. Take a look 240 00:12:40,280 --> 00:12:42,920 Speaker 3: at our cities. We're a developing nation. We we have 241 00:12:43,000 --> 00:12:45,920 Speaker 3: to develop more than they do. That we're way behind them. 242 00:12:45,960 --> 00:12:47,840 Speaker 3: You take a look at what's happened to our cities. 243 00:12:48,160 --> 00:12:48,760 Speaker 3: So one of my. 244 00:12:49,320 --> 00:12:52,080 Speaker 2: Question is about your allies, not about China. You aren't 245 00:12:52,080 --> 00:12:55,520 Speaker 2: going to annoy our allies behind you. 246 00:12:55,559 --> 00:12:59,640 Speaker 3: But our allies have taken advantage of us more so 247 00:12:59,720 --> 00:13:03,360 Speaker 3: than our our enemies. Our allies are the European Union. 248 00:13:03,720 --> 00:13:06,360 Speaker 1: Trump's answer went on to cover trade with Japan and 249 00:13:06,480 --> 00:13:09,000 Speaker 1: a conversation he said he had with former Prime Minister 250 00:13:09,080 --> 00:13:12,920 Speaker 1: Shinzo Abbe on the topic of world leaders. John also 251 00:13:13,080 --> 00:13:16,320 Speaker 1: asked if Trump has spoken with Russian President Vladimir Putin 252 00:13:16,440 --> 00:13:19,960 Speaker 1: since leaving office. In his newest book, Reporter Bob Woodward 253 00:13:20,040 --> 00:13:22,920 Speaker 1: cites an unnamed aid who says Trump and Putin have 254 00:13:23,040 --> 00:13:24,480 Speaker 1: spoken several times. 255 00:13:24,920 --> 00:13:27,679 Speaker 2: Can you say yes or no whether you have talked 256 00:13:27,800 --> 00:13:30,880 Speaker 2: to Vladimir Putin since you stopped being president. 257 00:13:31,040 --> 00:13:32,800 Speaker 3: Well, I don't comment on that, but I will tell 258 00:13:32,840 --> 00:13:35,280 Speaker 3: you that if I did, it's a smart thing. If 259 00:13:35,320 --> 00:13:38,560 Speaker 3: I'm friendly with people, if I have a relationship with people, 260 00:13:39,200 --> 00:13:40,559 Speaker 3: that's a good thing, not a bit. I think in 261 00:13:40,679 --> 00:13:44,079 Speaker 3: terms of a country, He's got two thousand nuclear weapons, 262 00:13:44,120 --> 00:13:46,880 Speaker 3: and so do we. China has a lot less, but 263 00:13:46,920 --> 00:13:50,199 Speaker 3: they'll catch us within five years. I have a relationships 264 00:13:50,280 --> 00:13:52,800 Speaker 3: very much. I don't talk about I don't talk about No, 265 00:13:52,840 --> 00:13:54,920 Speaker 3: I don't talk about that. I talk about it. 266 00:13:56,520 --> 00:13:58,560 Speaker 2: I can tell you what these people Russia. 267 00:13:58,240 --> 00:14:02,280 Speaker 3: Has never had a president that they respect so much. 268 00:14:02,360 --> 00:14:04,840 Speaker 3: But more importantly or less importantly, I guess. 269 00:14:06,360 --> 00:14:10,320 Speaker 1: Coming up former President Trump's comments on Jerome Powell and 270 00:14:10,400 --> 00:14:13,000 Speaker 1: why he thinks the chair of the Federal Reserve has, 271 00:14:13,160 --> 00:14:23,960 Speaker 1: as he put it, the greatest job in government. Bloomberg 272 00:14:24,080 --> 00:14:27,120 Speaker 1: editor in chief John Mickelthwaite's interview on Tuesday with former 273 00:14:27,160 --> 00:14:30,840 Speaker 1: President Donald Trump lasted just over an hour, and while 274 00:14:30,880 --> 00:14:33,600 Speaker 1: the stated focus was on business in the economy, there 275 00:14:33,640 --> 00:14:37,760 Speaker 1: were some digressions. Trump said, this is his rhetorical stock 276 00:14:37,840 --> 00:14:42,000 Speaker 1: in trade. He described his lengthy, meandering speeches as doing 277 00:14:42,080 --> 00:14:43,560 Speaker 1: the weave and. 278 00:14:43,560 --> 00:14:46,080 Speaker 3: By the way, by the way, and I think it's 279 00:14:46,160 --> 00:14:47,720 Speaker 3: very important. You can go, you know, I call it 280 00:14:47,720 --> 00:14:50,480 Speaker 3: the weave. You can call it. You have the weave, 281 00:14:50,520 --> 00:14:52,400 Speaker 3: as long as you end up in the right location 282 00:14:52,520 --> 00:14:53,000 Speaker 3: at the end. 283 00:14:53,040 --> 00:14:56,000 Speaker 1: But there were a few questions that yielded answers that 284 00:14:56,400 --> 00:14:59,160 Speaker 1: didn't quite get there. A question about whether he'd be 285 00:14:59,160 --> 00:15:01,880 Speaker 1: in favor of breaking up Google, for instance, led to 286 00:15:01,880 --> 00:15:05,080 Speaker 1: Trump talking about a lawsuit brought by federal prosecutors in 287 00:15:05,160 --> 00:15:08,720 Speaker 1: Virginia against that state, accusing it of removing voters from 288 00:15:08,760 --> 00:15:12,240 Speaker 1: the rules too close to election day. But on several occasions, 289 00:15:12,320 --> 00:15:14,880 Speaker 1: John referenced the audience in the room, made up in 290 00:15:14,960 --> 00:15:17,960 Speaker 1: part of business leaders, noting many of them care about 291 00:15:17,960 --> 00:15:21,280 Speaker 1: the strength of the US economy, and brought his questions 292 00:15:21,360 --> 00:15:22,360 Speaker 1: back to that topic. 293 00:15:22,520 --> 00:15:25,360 Speaker 2: So, the New York Economic Club, you said that if 294 00:15:25,360 --> 00:15:27,680 Speaker 2: you lost the dollar as a reserve currency, it would 295 00:15:27,720 --> 00:15:30,720 Speaker 2: be like America losing a war. You look at what 296 00:15:30,760 --> 00:15:33,880 Speaker 2: you're going to do in terms of protectionism, drive countries 297 00:15:33,920 --> 00:15:36,720 Speaker 2: to use the other currencies and all that debt is 298 00:15:36,760 --> 00:15:39,840 Speaker 2: also going to lessen the dollar's statuses of the world's 299 00:15:39,840 --> 00:15:40,560 Speaker 2: reserve currency. 300 00:15:40,640 --> 00:15:43,800 Speaker 3: If you worry about the dollars, so secure your reserve 301 00:15:43,880 --> 00:15:45,760 Speaker 3: currency is the strongest it'll ever be. 302 00:15:46,640 --> 00:15:50,320 Speaker 2: And President Trump at the moment, there is a thing 303 00:15:50,360 --> 00:15:52,680 Speaker 2: called the Trump trade in the markets. Do you know 304 00:15:52,720 --> 00:15:54,920 Speaker 2: what that is? The Trump trade is very simple. People 305 00:15:54,960 --> 00:15:58,600 Speaker 2: are betting that your policies, they're going to drive up debt, 306 00:15:59,040 --> 00:16:01,360 Speaker 2: They're going to drive up inflation, so they're going to 307 00:16:01,400 --> 00:16:04,840 Speaker 2: drive up inflation interest rates. Are the investors wrong? 308 00:16:05,120 --> 00:16:08,320 Speaker 3: Yeah, I had four years no inflation. I had four 309 00:16:08,400 --> 00:16:09,480 Speaker 3: years no inflation, but. 310 00:16:09,480 --> 00:16:11,320 Speaker 2: That was that was when you had much. 311 00:16:11,360 --> 00:16:15,240 Speaker 3: I had four years. It's better than that. And Biden, 312 00:16:15,320 --> 00:16:17,600 Speaker 3: who has no idea where the hell he is? Okay, 313 00:16:18,240 --> 00:16:22,000 Speaker 3: Biden went two years with no inflation because he inherited 314 00:16:22,040 --> 00:16:25,960 Speaker 3: from me. And then they started spending money like drunken salers. 315 00:16:26,000 --> 00:16:28,680 Speaker 3: They spent so much money. It was so ridiculous the 316 00:16:28,720 --> 00:16:31,480 Speaker 3: money they were spending. They were spending on the green 317 00:16:31,480 --> 00:16:34,720 Speaker 3: new scam, A green new scam, the Green New Deal. 318 00:16:35,520 --> 00:16:38,880 Speaker 3: You know, it was conceived of by AOC plus three. 319 00:16:39,480 --> 00:16:42,080 Speaker 3: She never even studied the environment in college. She went 320 00:16:42,120 --> 00:16:45,680 Speaker 3: to a nice college. She came out. She just said 321 00:16:46,040 --> 00:16:48,840 Speaker 3: the green new scam. She just named. All these things. 322 00:16:50,680 --> 00:16:52,640 Speaker 2: Meant the markets are looking at the fact you are 323 00:16:52,680 --> 00:16:56,680 Speaker 2: making all these promises. Latest one was carloans. You're flooding 324 00:16:56,720 --> 00:17:00,120 Speaker 2: the thing with giving giveaways. But when I rolled, I 325 00:17:00,160 --> 00:17:03,080 Speaker 2: was actually quite kind to you. I use seven trillion. 326 00:17:03,400 --> 00:17:06,480 Speaker 2: The upper estimate is fifteen trillion. People like the Wall 327 00:17:06,520 --> 00:17:09,480 Speaker 2: Street Journal, who's hardly a communist organization, but you don't. 328 00:17:09,520 --> 00:17:11,840 Speaker 2: They have criticized you on this as well. You are 329 00:17:11,920 --> 00:17:13,240 Speaker 2: running an enormous debt. 330 00:17:13,480 --> 00:17:15,280 Speaker 3: What is the Wall Street Journal? Now I'm meeting with 331 00:17:15,320 --> 00:17:16,880 Speaker 3: them tomorrow. What is the Wall Street Journal? 332 00:17:16,920 --> 00:17:16,960 Speaker 2: That? 333 00:17:16,960 --> 00:17:19,800 Speaker 3: They've been wrong about everything? So have you? By the way, 334 00:17:20,160 --> 00:17:20,680 Speaker 3: you've been wrong. 335 00:17:20,840 --> 00:17:23,000 Speaker 2: You're trying to turn this. You're trying to turn this 336 00:17:23,040 --> 00:17:25,120 Speaker 2: you've been wrong about You're trying to turn You're trying 337 00:17:25,119 --> 00:17:28,240 Speaker 2: to turn this into today's business people. 338 00:17:28,720 --> 00:17:31,240 Speaker 3: But you're wrong. You've been wrong. You've been wrong all 339 00:17:31,280 --> 00:17:33,920 Speaker 3: your life on this stuff. You've been Let me tell 340 00:17:33,920 --> 00:17:36,399 Speaker 3: you about currency. You're gonna you know, you're going jumping 341 00:17:36,440 --> 00:17:40,480 Speaker 3: a lot of a lot of different subjects. The reserve currents, 342 00:17:40,760 --> 00:17:43,800 Speaker 3: their reserve currency. That's where you're start right, the reserve 343 00:17:43,840 --> 00:17:49,040 Speaker 3: currency is under threat because you have Iran, you have Russia, 344 00:17:49,119 --> 00:17:51,199 Speaker 3: you have China. Once China is the one that you 345 00:17:51,240 --> 00:17:53,160 Speaker 3: have to worry about because they want it. They want 346 00:17:53,160 --> 00:17:56,720 Speaker 3: to have the wand be the you know, thing of power. 347 00:17:57,560 --> 00:18:00,359 Speaker 3: So here's what I'm doing again. I hate to go 348 00:18:00,440 --> 00:18:03,640 Speaker 3: back to it. If somebody says, and I know countries 349 00:18:03,680 --> 00:18:05,920 Speaker 3: want to get out because they don't respect our leadership, 350 00:18:05,960 --> 00:18:07,399 Speaker 3: they look at this guy, they say, you've got to 351 00:18:07,440 --> 00:18:09,280 Speaker 3: be kidding, And she's worse than him, by the way 352 00:18:09,320 --> 00:18:12,480 Speaker 3: she's I never thought i'd say this. She is not 353 00:18:12,520 --> 00:18:14,600 Speaker 3: as smart as Biden. If you can believe, this is 354 00:18:14,640 --> 00:18:18,160 Speaker 3: not what we had four years of this, this lunacy, 355 00:18:18,320 --> 00:18:20,000 Speaker 3: and we can't have anymore. We're not going to have 356 00:18:20,000 --> 00:18:24,639 Speaker 3: a country left. Okay. Currency very important, and if you 357 00:18:24,680 --> 00:18:26,520 Speaker 3: want to go to third world, if you want to 358 00:18:26,520 --> 00:18:30,199 Speaker 3: go to third world status, lose your reserve currency. We 359 00:18:30,320 --> 00:18:33,600 Speaker 3: have to have that. We cannot lose it if you'll 360 00:18:33,640 --> 00:18:35,879 Speaker 3: go to third world status in this country, because you 361 00:18:35,880 --> 00:18:38,400 Speaker 3: take a look at the way things are running. If 362 00:18:38,400 --> 00:18:42,000 Speaker 3: a country tells me, Sarah, we like you very much, 363 00:18:42,040 --> 00:18:44,399 Speaker 3: but we're going to no longer adhere to being in 364 00:18:44,480 --> 00:18:49,280 Speaker 3: the reserve currency. We're not going to salute the dollar anymore. 365 00:18:50,080 --> 00:18:53,679 Speaker 3: I'll say, that's okay, And you're going to pay one 366 00:18:53,800 --> 00:18:57,520 Speaker 3: hundred percent tariff for everything you sell into the United States. 367 00:18:58,080 --> 00:18:59,840 Speaker 3: And we love your product. I hope you sell a 368 00:18:59,840 --> 00:19:01,800 Speaker 3: lot of it into the United States, but you're going 369 00:19:01,800 --> 00:19:05,480 Speaker 3: to pay one hundred percent tariff. He will then follow 370 00:19:05,520 --> 00:19:07,719 Speaker 3: it up by saying, sir, it would be an honor 371 00:19:07,800 --> 00:19:11,360 Speaker 3: to stay with him reserve currency, I will be. That 372 00:19:11,400 --> 00:19:14,560 Speaker 3: will be like just playing That's not even chess, that's checkers. 373 00:19:14,600 --> 00:19:17,200 Speaker 1: Another issue that's been front and center in this campaign 374 00:19:17,520 --> 00:19:20,639 Speaker 1: is inflation, which the Federal Reserve has been fighting for 375 00:19:20,760 --> 00:19:21,399 Speaker 1: years now. 376 00:19:21,800 --> 00:19:21,960 Speaker 3: Well. 377 00:19:22,000 --> 00:19:25,439 Speaker 1: Trump has not been shy about criticizing Jerome Powell, the 378 00:19:25,480 --> 00:19:28,760 Speaker 1: current chair of the FED, despite the fact he nominated 379 00:19:28,760 --> 00:19:30,800 Speaker 1: Powell for the job in twenty seventeen. 380 00:19:31,400 --> 00:19:33,439 Speaker 2: You say you don't want interest rates to go higher. 381 00:19:33,480 --> 00:19:36,240 Speaker 2: You've gone backwards and forwards about It depends only you 382 00:19:36,240 --> 00:19:38,120 Speaker 2: want to keep Whether you want to keep Jerome put 383 00:19:38,160 --> 00:19:40,960 Speaker 2: Powell as Chair of the Federal Reserve. His term is 384 00:19:41,040 --> 00:19:44,399 Speaker 2: chair runs on to May twenty twenty six. Would you 385 00:19:44,440 --> 00:19:47,159 Speaker 2: seek to remove, remove, or demote him? 386 00:19:47,400 --> 00:19:51,919 Speaker 3: Look, I think it's the greatest job in government. You 387 00:19:52,000 --> 00:19:54,680 Speaker 3: show up to the office once a month and you say, 388 00:19:54,760 --> 00:19:59,520 Speaker 3: let's see Philip Acre, and everybody talks about you like 389 00:19:59,560 --> 00:20:01,440 Speaker 3: you're a guy. Oh what will he do? I mean 390 00:20:01,480 --> 00:20:03,639 Speaker 3: before the guy he used to walk into my office. 391 00:20:04,080 --> 00:20:07,640 Speaker 3: He was like the Beg and Hull host. He was fine. 392 00:20:07,760 --> 00:20:08,920 Speaker 3: You did you know? 393 00:20:09,440 --> 00:20:11,080 Speaker 2: You talked about removing him once. 394 00:20:11,440 --> 00:20:14,080 Speaker 3: I did because he was keeping the ridge too high, 395 00:20:14,359 --> 00:20:16,240 Speaker 3: and I was right, and you would do that again. 396 00:20:16,440 --> 00:20:20,240 Speaker 3: In fact, he actually dropped them too much when I 397 00:20:20,280 --> 00:20:24,560 Speaker 3: did this, because I said I was threatening to determinate him. 398 00:20:24,560 --> 00:20:26,600 Speaker 3: There was a question as to whether or not she could. 399 00:20:27,280 --> 00:20:29,200 Speaker 3: And there was an article on the New York Times 400 00:20:29,280 --> 00:20:31,880 Speaker 3: two half pages one page that I can do it 401 00:20:32,040 --> 00:20:34,639 Speaker 3: by lawyers, one half page that I couldn't. And that 402 00:20:34,720 --> 00:20:36,640 Speaker 3: was enough for him, and he dropped the hell out 403 00:20:36,640 --> 00:20:38,680 Speaker 3: of the rich. He dropped them too much. He went 404 00:20:38,800 --> 00:20:43,040 Speaker 3: so paous. He dropped them actually too much. Okay, here's 405 00:20:43,080 --> 00:20:47,480 Speaker 3: the story. I think that if you're a very good 406 00:20:47,480 --> 00:20:50,760 Speaker 3: president with good sense, you should be able to at 407 00:20:50,880 --> 00:20:53,360 Speaker 3: least talk to him. I don't say make the decision 408 00:20:53,440 --> 00:20:57,040 Speaker 3: at all, but I mean I've been a very successful businessman. 409 00:20:57,080 --> 00:21:00,000 Speaker 3: I've done really good much better. Now people are understand 410 00:21:00,280 --> 00:21:03,800 Speaker 3: how good I've done because they're seeing it much better 411 00:21:03,840 --> 00:21:05,600 Speaker 3: than the fake news wants to give me credit. But 412 00:21:07,640 --> 00:21:09,840 Speaker 3: I think I have the right to say, as a 413 00:21:09,960 --> 00:21:14,119 Speaker 3: very good businessman and somebody that's used a lot of sense, 414 00:21:14,840 --> 00:21:16,720 Speaker 3: I think I have the right to say that. You know, 415 00:21:17,280 --> 00:21:20,560 Speaker 3: I think I'm better than he would be. I think 416 00:21:20,560 --> 00:21:23,040 Speaker 3: I'm better than most people would be in that position. 417 00:21:23,400 --> 00:21:24,680 Speaker 3: I think I have the right to say I think 418 00:21:24,720 --> 00:21:26,800 Speaker 3: you should go up or down a little bit. I 419 00:21:26,840 --> 00:21:29,159 Speaker 3: don't think I should be allowed to order it, but 420 00:21:29,240 --> 00:21:31,240 Speaker 3: I think I have the right to put in comments 421 00:21:31,840 --> 00:21:34,199 Speaker 3: as to whether or not interest rates should go up 422 00:21:34,280 --> 00:21:34,600 Speaker 3: or down. 423 00:21:35,080 --> 00:21:37,960 Speaker 1: John's interview with Trump ended with what's become another hot 424 00:21:38,000 --> 00:21:42,080 Speaker 1: button issue in this campaign. Immigration. Trump has proposed to 425 00:21:42,160 --> 00:21:46,200 Speaker 1: porting as many as eleven million undocumented immigrants if he's reelected, 426 00:21:46,600 --> 00:21:49,840 Speaker 1: and John asked him about the economic implications of that. 427 00:21:50,240 --> 00:21:53,120 Speaker 2: Just facing on the economic thing, are you prepared to say, look, 428 00:21:53,160 --> 00:21:56,480 Speaker 2: it's fine to have a slightly smaller economy in exchange 429 00:21:56,560 --> 00:21:58,520 Speaker 2: for having the immigration control. 430 00:21:58,560 --> 00:22:01,480 Speaker 3: A simple answer. I want a lot of people to 431 00:22:01,520 --> 00:22:03,920 Speaker 3: come into our country, but I want them to come 432 00:22:03,960 --> 00:22:06,240 Speaker 3: in legally. I don't want to have. 433 00:22:09,840 --> 00:22:14,040 Speaker 2: That means that means he will have That means you 434 00:22:14,119 --> 00:22:16,160 Speaker 2: will have to depot You know, you are talking about 435 00:22:16,240 --> 00:22:19,040 Speaker 2: deposing eleven million people. That is a lot of people. 436 00:22:19,160 --> 00:22:24,600 Speaker 3: Start out. It came out last week that four hundred 437 00:22:24,600 --> 00:22:27,600 Speaker 3: and twenty five thousand people are horrible criminals at the 438 00:22:27,680 --> 00:22:31,720 Speaker 3: highest level. But it came out that thirteen thousand and 439 00:22:31,880 --> 00:22:36,560 Speaker 3: ninety nine were let in during their administration. They tried 440 00:22:36,560 --> 00:22:39,920 Speaker 3: to say longer wrong. During the over the last three 441 00:22:39,960 --> 00:22:44,399 Speaker 3: and a half years, thirteen thousand plus people came in murderers, 442 00:22:45,000 --> 00:22:48,920 Speaker 3: they're in jail for murder, some were having the death penalty. 443 00:22:49,200 --> 00:22:52,360 Speaker 3: That they were all released into our country. Thirteen thousand 444 00:22:52,359 --> 00:22:54,720 Speaker 3: and ninety nine people were released into our country. 445 00:22:55,200 --> 00:22:58,120 Speaker 1: Those stats are falls. Trump has been leaning on those 446 00:22:58,119 --> 00:23:00,640 Speaker 1: claims and similar ones on the campaign trail. 447 00:23:00,680 --> 00:23:01,080 Speaker 3: This month. 448 00:23:01,560 --> 00:23:04,879 Speaker 1: He also ticked through other debunked talking points about immigrants 449 00:23:04,920 --> 00:23:09,920 Speaker 1: being responsible for spikes in violent crime. Another major theme 450 00:23:09,960 --> 00:23:13,800 Speaker 1: in this election has been age. The race changed dramatically 451 00:23:13,880 --> 00:23:16,800 Speaker 1: in July when President Biden decided he would no longer 452 00:23:16,840 --> 00:23:20,600 Speaker 1: seek reelection amid growing concerns about his age. He's eighty 453 00:23:20,640 --> 00:23:24,600 Speaker 1: one years old. Donald Trump is seventy eight, almost two 454 00:23:24,600 --> 00:23:28,360 Speaker 1: decades older than Vice President Harris. At one point, when 455 00:23:28,400 --> 00:23:30,800 Speaker 1: he addressed how he picked nominees for the Supreme Court, 456 00:23:31,080 --> 00:23:34,520 Speaker 1: he talked about age as a disqualification. Toward the end 457 00:23:34,560 --> 00:23:36,760 Speaker 1: of their interview, John asked about that. 458 00:23:37,280 --> 00:23:40,240 Speaker 2: You've just said it. You don't too old. You own 459 00:23:40,600 --> 00:23:43,920 Speaker 2: and run businesses. Would you appoint a CEO who was 460 00:23:43,960 --> 00:23:46,679 Speaker 2: seventy eight You didn't give you Oh yeah, a. 461 00:23:46,760 --> 00:23:51,040 Speaker 3: Medical Yeah, well, it depends on I'd make people like Biden, 462 00:23:51,240 --> 00:23:54,520 Speaker 3: who's in bad shape. I wouldn't appoint him he's eighty 463 00:23:54,520 --> 00:23:57,360 Speaker 3: one or eighty two. He's four years older. But at 464 00:23:57,400 --> 00:24:00,600 Speaker 3: a point, I know some of the smartest people I know. 465 00:24:01,320 --> 00:24:04,200 Speaker 3: I know man that made all of his money from 466 00:24:04,240 --> 00:24:06,480 Speaker 3: the time he was eighty to ninety, and he was 467 00:24:06,520 --> 00:24:09,280 Speaker 3: a fair year all his life. He was in the 468 00:24:10,320 --> 00:24:12,440 Speaker 3: drink's business, the strange stranger. 469 00:24:12,480 --> 00:24:14,240 Speaker 2: You didn't bring this up when but you were running 470 00:24:14,240 --> 00:24:15,080 Speaker 2: against Joe Biden. 471 00:24:15,680 --> 00:24:17,920 Speaker 3: No, I never attacked him for his age. In fact, 472 00:24:17,960 --> 00:24:20,119 Speaker 3: I used to defend him on his age. I attacked 473 00:24:20,160 --> 00:24:21,520 Speaker 3: him for his lack of competence. 474 00:24:22,359 --> 00:24:25,840 Speaker 2: I asked you, I've asked you all these questions either way. 475 00:24:25,680 --> 00:24:29,359 Speaker 3: Just for that, because I think it's important and I 476 00:24:29,400 --> 00:24:32,359 Speaker 3: know you do too. I know so many people in 477 00:24:32,400 --> 00:24:37,080 Speaker 3: their eighties that are among Bernie Marcus is ninety five, 478 00:24:37,119 --> 00:24:39,760 Speaker 3: a founder of Home Deeople. You have the conversation with him. 479 00:24:40,200 --> 00:24:44,000 Speaker 3: He's just as sharp as he mentally, he's just as 480 00:24:44,000 --> 00:24:47,640 Speaker 3: sharp as you have was. He's ninety five. I could 481 00:24:47,680 --> 00:24:49,440 Speaker 3: tell you that in the nineties. I don't want to 482 00:24:49,440 --> 00:24:52,399 Speaker 3: get into the ninety stuff. But you know what, I 483 00:24:52,440 --> 00:24:55,200 Speaker 3: know many people in their eighties. I know guys in 484 00:24:55,240 --> 00:24:58,720 Speaker 3: their eighties that won't leave the company, like family companies 485 00:24:58,760 --> 00:25:00,720 Speaker 3: where they don't want the kids to take because they're 486 00:25:00,800 --> 00:25:03,200 Speaker 3: much more competent than their kids. I know them both, right, 487 00:25:03,720 --> 00:25:09,119 Speaker 3: So no, I would have no problem. 488 00:25:09,160 --> 00:25:11,879 Speaker 2: Well, you've given us a toady reason of where that 489 00:25:11,920 --> 00:25:14,679 Speaker 2: country might be going to. Thank you very much for much. 490 00:25:14,680 --> 00:25:15,200 Speaker 2: I appreciate you. 491 00:25:18,320 --> 00:25:22,040 Speaker 1: Former President Donald Trump in conversation with Bloomberg editor in 492 00:25:22,119 --> 00:25:25,280 Speaker 1: chief John Micklethwade at an event co hosted by Bloomberg 493 00:25:25,320 --> 00:25:28,520 Speaker 1: and the Economic Club of Chicago on Tuesday. You can 494 00:25:28,560 --> 00:25:31,720 Speaker 1: hear the interview in its entirety at bloomberg dot com 495 00:25:31,840 --> 00:25:35,359 Speaker 1: or on the Bloomberg terminal. And a quick note again 496 00:25:35,440 --> 00:25:38,399 Speaker 1: that Bloomberg and the Economic Club of Chicago have invited 497 00:25:38,480 --> 00:25:41,760 Speaker 1: Vice President Harris to participate in a similar event, and 498 00:25:41,840 --> 00:25:45,880 Speaker 1: she is so far declined. This is the Big Take 499 00:25:45,880 --> 00:25:49,159 Speaker 1: from Bloomberg News. I'm David Gura. This episode was produced 500 00:25:49,160 --> 00:25:52,280 Speaker 1: by Julia Press and David Fox. It was edited by 501 00:25:52,280 --> 00:25:55,800 Speaker 1: Aaron Edwards and Wendy Benjaminson. It was mixed by Alex Sekura, 502 00:25:56,119 --> 00:25:59,919 Speaker 1: fact check by Adriana Tapia. Our senior producer is Naomi Shaven, 503 00:26:00,200 --> 00:26:03,760 Speaker 1: Our senior editor is Elizabeth Ponso. Our executive producer is 504 00:26:03,840 --> 00:26:07,640 Speaker 1: Nicole Beemster Boor, and Sage Bauman is Bloomberg's head of Podcasts. 505 00:26:08,160 --> 00:26:10,520 Speaker 1: If you liked this episode, make sure to subscribe and 506 00:26:10,560 --> 00:26:13,240 Speaker 1: review The Big Take wherever you listen to podcasts. It 507 00:26:13,320 --> 00:26:16,359 Speaker 1: helps people find a show. Thanks for listening. We'll be 508 00:26:16,400 --> 00:26:16,960 Speaker 1: back tomorrow.