WEBVTT - Trump's Decisive Victory: What Does It Tell Us and What Comes Next? 0:00:03.120 --> 0:00:18.520 Bloomberg Audio Studios, Podcasts, radio News. Welcome to our twenty 0:00:18.560 --> 0:00:22.320 twenty four US election edition of voter Nomics, the Bloomberg 0:00:22.360 --> 0:00:26.560 podcast where politics and economics collide. All year, we've been 0:00:26.600 --> 0:00:29.080 talking about how voters around the world have the ability 0:00:29.120 --> 0:00:33.440 to affect markets, countries, and economies like never before. We're 0:00:33.440 --> 0:00:36.800 going to focus on arguably the biggest of them all, 0:00:37.040 --> 0:00:41.239 the American election. As we speak, victory has just been 0:00:41.280 --> 0:00:44.920 called for Donald Trump. It came as he won Wisconsin. 0:00:45.360 --> 0:00:49.160 The SMP five hundred reacted positively, did the News, as 0:00:49.200 --> 0:00:53.599 did companies like Tesla. Donald Trump's fellow Republicans won control 0:00:53.720 --> 0:00:56.240 of the Senate, and in every state where most votes 0:00:56.280 --> 0:01:00.000 had been counted, Trump's performance was stronger than in twenty twenty. 0:01:00.520 --> 0:01:03.440 So on today's Votomics, we're sharing an episode from The 0:01:03.440 --> 0:01:07.479 Big Take podcast, Bloomberg's daily podcast, which features in depth 0:01:07.600 --> 0:01:11.319 original reporting from around the globe. In their quick reaction 0:01:11.600 --> 0:01:15.640 US election special, Big Take hosts Sarah Holder and Bloomberg's 0:01:15.640 --> 0:01:20.120 Wendy Benjaminson break down how election Day played out and 0:01:20.160 --> 0:01:23.440 get reactions from around the world, plus what we can 0:01:23.520 --> 0:01:27.560 expect from a second Trump administration. But before all of that, 0:01:27.920 --> 0:01:29.720 I'm a Lego Stratton and I made. 0:01:29.600 --> 0:01:31.199 Room waldron Oge. 0:01:31.400 --> 0:01:32.360 Did you get any sleep? 0:01:32.640 --> 0:01:36.120 I didn't. Actually, I was very foolish because I started 0:01:36.200 --> 0:01:40.080 just looking at my twitter feed, x feed, whatever you 0:01:40.160 --> 0:01:43.120 want to call it, at about midnight, and that I 0:01:43.120 --> 0:01:47.319 did a musk feed and I didn't stop, unfortunately, until 0:01:47.440 --> 0:01:49.720 until about four point thirty five in the morning. I 0:01:49.800 --> 0:01:52.480 just I just I just kept going because what we 0:01:52.480 --> 0:01:55.600 were seeing in real time was a very surprising story. 0:01:56.480 --> 0:01:58.800 Because it wasn't night Federal Quintine exactly. 0:01:58.840 --> 0:02:02.800 I mean, we people had expect did either Harris victory 0:02:03.200 --> 0:02:05.840 or a very very close election, which we'd still be 0:02:05.920 --> 0:02:08.720 litigating at the moment, And what we saw was clear, 0:02:09.120 --> 0:02:11.360 was very clear, and it was a clear Trump victory. 0:02:11.480 --> 0:02:14.760 I don't think many pundits were expecting that at all. 0:02:14.960 --> 0:02:18.440 And the inquest started very quickly as well, certainly in 0:02:18.480 --> 0:02:23.640 the corresponds, I was getting around how did the left 0:02:23.760 --> 0:02:27.720 or Democrats misjudge this, and whether or not it's worse 0:02:27.760 --> 0:02:30.680 for them than the Hillary Clinton defeat. I mean, certainly 0:02:30.720 --> 0:02:34.320 that sense that America wasn't yet ready for a female president, 0:02:34.520 --> 0:02:36.400 whether or not that is the take home point in 0:02:36.440 --> 0:02:40.960 the days ahead, but it feels that there's questions around 0:02:40.960 --> 0:02:43.440 gender as well as questions around whether she was the 0:02:43.520 --> 0:02:44.160 right candidate. 0:02:44.440 --> 0:02:46.240 Yeah, we had a very peculiar sort of set of 0:02:46.280 --> 0:02:50.320 expectations because Kamala Harris did very well in the debate 0:02:50.480 --> 0:02:53.840 with Trump and her stocks rose, and in the last 0:02:53.960 --> 0:02:56.480 few days before the vote, it looked as though she 0:02:56.560 --> 0:03:00.000 was really regaining momentum, partly because of the Madison Square 0:03:00.200 --> 0:03:04.280 Gardens absurdities, and probably because Trump seemed to be losing 0:03:04.360 --> 0:03:07.520 a bit of his focus and flair. But clearly that 0:03:07.639 --> 0:03:11.119 was absolutely wrong. One of the big stories of this 0:03:11.400 --> 0:03:16.840 election is that the democratic notion of what democratic politics 0:03:16.880 --> 0:03:20.680 is about has been exploded. They have basically been an 0:03:20.720 --> 0:03:26.160 alliance between the educated, upper middle class elite and various 0:03:26.160 --> 0:03:28.760 ethnic minorities. And their assumption was that they could just 0:03:28.880 --> 0:03:32.240 keep adding ethnic minorities. They've got a big advantage with 0:03:32.400 --> 0:03:34.639 black voters, and they could just add more and more 0:03:34.639 --> 0:03:37.800 and more Latinos or whoever was coming in, and that's 0:03:37.840 --> 0:03:43.000 clearly not the case. You saw Black voters voting in 0:03:43.640 --> 0:03:46.880 surprising numbers for Trump, you saw Latino voters voting in 0:03:47.080 --> 0:03:52.120 very surprising numbers for Trump, and Asian voters also shifting 0:03:52.200 --> 0:03:55.560 in some significant ways. We haven't seen numbers like this since, 0:03:55.720 --> 0:03:58.760 you know, for the Latino since since George W. Bush. 0:03:58.960 --> 0:04:02.960 And that's as really skewered the whole way of thinking 0:04:03.160 --> 0:04:05.680 of Democrats, because Democrats tend to think of these people 0:04:05.720 --> 0:04:08.800 as being exploited, as being victims, as in some way 0:04:08.840 --> 0:04:12.920 being marginal. They certainly think of the immigration issue cutting 0:04:13.440 --> 0:04:16.080 in favor of the Democrats, and this hasn't happened. I 0:04:16.120 --> 0:04:20.240 think it's partly because class is the overriding thing. And 0:04:20.640 --> 0:04:24.960 I think that what the liberal elite, hyper educated, hyperwoke, 0:04:25.839 --> 0:04:29.120 very status conscious liberal elite has done is it's basically 0:04:29.200 --> 0:04:32.839 driven the white working class out of the Democratic coalition. 0:04:32.839 --> 0:04:35.560 They've shifted to the Republicans. And now it's doing exactly 0:04:35.560 --> 0:04:39.600 the same thing for ethnic minorities, slowly but very significantly. 0:04:39.839 --> 0:04:41.839 So if we just take the helicopter view of what 0:04:41.920 --> 0:04:44.280 this podcast why You and I and Stephanie when she's 0:04:44.279 --> 0:04:46.520 with us, have been discussing over the last year, through 0:04:46.640 --> 0:04:49.160 lots of ballots, lots of different elections, is this or 0:04:49.200 --> 0:04:52.200 not since this fact that incumbents have struggled, is this 0:04:52.320 --> 0:04:55.440 that trend playing out? Kamala Harris came in, took over 0:04:55.480 --> 0:04:59.040 from Biden, ran very, very tight and well executed hundred 0:04:59.080 --> 0:05:02.360 days the less probably realized too late she had to 0:05:02.440 --> 0:05:05.440 convey that she was changed. She didn't manage to do that. 0:05:05.600 --> 0:05:08.719 So my question is was it just she felt foul 0:05:08.800 --> 0:05:11.920 of that tide that is beating up on the incumbent, 0:05:11.920 --> 0:05:14.279 by which we mean the people in power they just 0:05:14.680 --> 0:05:17.680 the electra and not feeling they're benefiting doing well enough 0:05:17.760 --> 0:05:20.400 out of it. Or was it actually she wasn't good 0:05:20.480 --> 0:05:21.599 enough or was it both? 0:05:21.760 --> 0:05:26.560 I think economic discontent and inflation underlay this. People just 0:05:26.880 --> 0:05:30.280 felt poorer and they felt angry because they felt poorer. 0:05:30.440 --> 0:05:32.640 But there are a lot of important cultural issues as well. 0:05:32.680 --> 0:05:35.960 There was the immigration issue that people felt that Biden 0:05:36.120 --> 0:05:39.800 and Harris, by implication, had not taken that seriously enough. 0:05:40.000 --> 0:05:42.400 And there's a sort of set of cultural issues that 0:05:42.640 --> 0:05:45.960 also motivated people to sern that you might feel grumpy 0:05:46.000 --> 0:05:48.560 and angry about inflation, but do you go to rallies 0:05:48.600 --> 0:05:51.880 and cheer. Do you really turn out and wave banners 0:05:52.000 --> 0:05:55.160 just because you're angry about the economy. I think Trump 0:05:55.279 --> 0:05:59.240 was motivating a lot of resentment about the way a 0:05:59.360 --> 0:06:01.839 very insula to the elite has been running the country 0:06:01.839 --> 0:06:05.440 in ways that go against the opinions of large numbers 0:06:05.440 --> 0:06:08.560 of people. So yes, underlying it all inflation and the 0:06:08.600 --> 0:06:12.839 economy driving all of this, but we're a very rich man. 0:06:12.920 --> 0:06:17.520 He's incredibly successful at conveying the the underdog, and it's 0:06:17.800 --> 0:06:20.760 it's both economic, but it's also a vibe he has 0:06:20.960 --> 0:06:25.480 that he just cuts through the blandness of the political establishment. 0:06:25.480 --> 0:06:30.880 So you have a very sort of twee cultivated, cerebral, 0:06:31.240 --> 0:06:34.440 rather bossy political elite out there, and you have this 0:06:34.720 --> 0:06:38.360 vulgan we do, we do, but you have this vulgar, 0:06:38.640 --> 0:06:43.400 boisterous man and people identify with him. They more identified 0:06:43.680 --> 0:06:45.359 with him rather than with the Harvard yachts than in 0:06:45.400 --> 0:06:49.520 the nineteenth century. And he's brilliant at summing up big 0:06:49.560 --> 0:06:52.680 things in small phrases. I mean, make America great again. 0:06:52.720 --> 0:06:55.040 It's just such a powerful thing. He's a demagogue. 0:06:55.200 --> 0:06:58.640 Just on this question about Kamala Harris and the kind 0:06:58.680 --> 0:07:02.400 of aloofness, did she do everything she possibly could? 0:07:02.600 --> 0:07:05.120 I thought she was a terribly weak candidate in the 0:07:05.200 --> 0:07:08.520 sense that she didn't really have a set of policies 0:07:08.560 --> 0:07:11.040 and a gender. She did very well in the debate, 0:07:11.360 --> 0:07:13.800 and then she sort of fizzled out. If you don't 0:07:13.880 --> 0:07:17.320 present a compelling message as to why you should be 0:07:17.400 --> 0:07:19.880 voted for, and if you don't present a set of 0:07:19.920 --> 0:07:23.120 policies to solve people's problems, particularly the problem of the border, 0:07:23.360 --> 0:07:26.080 then it looks as though you assume that you should 0:07:26.080 --> 0:07:28.320 be voted for just because of the person that you are. 0:07:28.600 --> 0:07:32.120 Now we go back to Biden. Had Biden stepped down 0:07:32.320 --> 0:07:35.840 when he should have done, had he created an open 0:07:35.880 --> 0:07:40.360 primary system, had the strongest democrat one, then that would 0:07:40.400 --> 0:07:45.360 have been possible, even in difficult circumstances, for a democratic victory. 0:07:45.680 --> 0:07:47.559 One of the things we will see in the coming 0:07:47.640 --> 0:07:50.480 days when we do the kind of analysis of the 0:07:50.520 --> 0:07:56.320 demographics is I think we thought and expected that women 0:07:56.520 --> 0:08:00.200 on mass would come out for Kamala Harris across the 0:08:00.240 --> 0:08:06.240 divide concerned about abortion rights being restricted. I wonder in 0:08:06.280 --> 0:08:08.480 the end whether that wasn't strong enough either. You certainly 0:08:08.520 --> 0:08:11.400 saw Kamala Harris make it front and center of many 0:08:11.400 --> 0:08:11.960 things she did. 0:08:12.120 --> 0:08:15.760 Absolutely. I think we will know more over the next 0:08:15.760 --> 0:08:19.080 few days about the precise demographic makeup, but I think 0:08:19.120 --> 0:08:23.680 Soccer Mum's women did not turn out for Harris in 0:08:23.760 --> 0:08:27.040 the sort of numbers that we expected. Also, underneath it all. 0:08:27.080 --> 0:08:30.600 Do people care more about that issue or do they 0:08:30.600 --> 0:08:32.920 care more about immigration? And I think it's immigration. 0:08:33.160 --> 0:08:36.520 When you glance at the polls and the returns on 0:08:36.559 --> 0:08:39.400 why the things that motivated people to vote, democracy comes up, 0:08:39.520 --> 0:08:43.080 and at first glance, the kind of complacent view is 0:08:43.080 --> 0:08:46.400 that that favored Kamala Harris. But actually you dig deeper, 0:08:46.400 --> 0:08:48.760 and if you've done any reporting around either America or 0:08:48.800 --> 0:08:52.320 the UK or lots of countries, actually it does us 0:08:52.320 --> 0:08:54.760 stand to reason that that might be something that motivated 0:08:54.760 --> 0:08:56.920 people to vote for Trump. This sense, as you've been 0:08:56.960 --> 0:08:59.920 talking eloquently throughout the podcast about this sense that it 0:09:00.160 --> 0:09:02.640 was sort of, you know, the establishment was a done deal, 0:09:02.720 --> 0:09:05.199 sewn up and an impenetrable fortress that you couldn't get 0:09:05.200 --> 0:09:08.400 into if you were normal working pass Absolutely no, there's 0:09:08.400 --> 0:09:11.800 this extraordinary result, which was I think the number. 0:09:11.520 --> 0:09:15.560 Two issue that people were worried about after the economy 0:09:15.640 --> 0:09:17.600 was the state of democracy. And you think, well, that's 0:09:17.600 --> 0:09:21.040 a very very good indicator for Harris, and then in 0:09:21.080 --> 0:09:25.200 fact those people broke towards Trump. So you know, we 0:09:25.320 --> 0:09:27.680 in the media tend to think about January the sixth 0:09:27.679 --> 0:09:30.560 and Trump's sort of contempt for due process. But in fact, 0:09:30.559 --> 0:09:33.520 what a lot of people believe is that the media 0:09:33.920 --> 0:09:37.160 is part of a cartel which tells a story to 0:09:37.240 --> 0:09:39.680 other members of the media and doesn't really relate to 0:09:39.760 --> 0:09:41.600 ordinary people. And I think this is a huge problem 0:09:41.640 --> 0:09:45.960 for our profession that I think thirteen percent of Republicans 0:09:46.280 --> 0:09:50.240 now believe the mainstream media, and the mainstream media quite 0:09:50.240 --> 0:09:53.760 Franklin was in the tank for Kamala all the way 0:09:53.800 --> 0:09:56.520 through this election. I think there's a crisis of confidence 0:09:56.640 --> 0:10:00.480 that we have to as a profession, get out of bubble, 0:10:00.920 --> 0:10:05.080 report on the country, on America, report on the actual 0:10:05.200 --> 0:10:09.040 angs and Anxietism, worries about regular people, and do a 0:10:09.080 --> 0:10:12.040 better job of reflecting what's going on out there rather 0:10:12.040 --> 0:10:13.040 than talking to each other. 0:10:13.120 --> 0:10:15.880 But Adrian, I mean everything you've just said, you could 0:10:15.880 --> 0:10:18.360 have said after the Brexit vote. You could have said 0:10:18.400 --> 0:10:20.439 after the first Trump victory. When do we learn? 0:10:20.960 --> 0:10:25.240 And it's the corporations, the universities, the professional elite, and 0:10:25.240 --> 0:10:27.160 they've got to reconnect with their country or we'll keep 0:10:27.160 --> 0:10:29.839 getting these sort of surprises, not only in the United States, 0:10:29.880 --> 0:10:30.720 but also in Europe. 0:10:31.080 --> 0:10:33.520 Taking a step across the pond, back across the pond, 0:10:33.600 --> 0:10:36.160 we're in London. We're in the UK reflecting on all 0:10:36.200 --> 0:10:39.480 of this and what about the impact it has on 0:10:39.800 --> 0:10:43.880 UK politics? Not UK politics, Actually, I think more interesting 0:10:44.040 --> 0:10:46.560 is the economic impact. I think this morning has been 0:10:46.640 --> 0:10:48.320 quite expensive for the government. 0:10:48.440 --> 0:10:51.199 Absolutely. I mean I think it's all in the short term, 0:10:51.280 --> 0:10:53.240 or in the simplest sense, it's a disaster for the 0:10:53.320 --> 0:10:56.640 Labor Party. Because the Labor Party is interlinked with the 0:10:56.679 --> 0:10:59.880 Democratic Party but also very hostile to Trump. 0:11:00.000 --> 0:11:02.439 People have been speculating there might be a star a reshuffler. 0:11:02.480 --> 0:11:04.400 Yeah, I would have thought so. I think it's very 0:11:04.400 --> 0:11:07.640 difficult to keep this current position in place. But also 0:11:07.679 --> 0:11:10.600 we're interlinked economies. We're going to get a big economic 0:11:10.600 --> 0:11:13.959 boom in the United States, lower corporation tax, lower personal tax. 0:11:14.200 --> 0:11:18.000 I think a lot of talent will shift from this country, 0:11:18.040 --> 0:11:20.880 which is being more and more heavily taxed, to the 0:11:21.040 --> 0:11:22.800 United States. So that to Trump world. 0:11:22.920 --> 0:11:24.839 It is the case that Labor has pledged to spend 0:11:24.840 --> 0:11:28.000 more on defense, but that number wasn't actually in last 0:11:28.040 --> 0:11:30.600 week's budget, And when you look at last week's budget 0:11:30.679 --> 0:11:34.080 and how her head room was reduced in it, it's 0:11:34.120 --> 0:11:36.680 hard to see that she has much room for maneuver well. 0:11:36.679 --> 0:11:38.960 I think there's a bigger European problem over the defense 0:11:39.000 --> 0:11:41.640 because Europe as a whole has to face the fact 0:11:41.720 --> 0:11:45.640 that it is in hawk to Trump to defend it. 0:11:45.679 --> 0:11:51.760 That Trump is not a stable or predictable or reliable ally, 0:11:52.120 --> 0:11:54.960 And I think that Europe and Britain will have to 0:11:54.960 --> 0:11:57.200 get closer and closer together. They'll have to put aside 0:11:57.200 --> 0:12:00.440 their quarrels and really deal with this defense isship. Whatever 0:12:00.480 --> 0:12:02.840 Trump does, and I think there is a big set 0:12:02.880 --> 0:12:06.600 of variables in what Trump does, we can't presume that 0:12:06.640 --> 0:12:07.120 you'll do so. 0:12:07.240 --> 0:12:10.440 At the last time round, internationally, there was some softening 0:12:10.480 --> 0:12:13.120 of his joy. They say things to get into power. 0:12:13.280 --> 0:12:16.720 And he likes to say very extravagant and provocative things. 0:12:16.760 --> 0:12:19.640 But nevertheless, even if he's not as radical as he 0:12:19.679 --> 0:12:22.880 claims he is, can we continue to be in hock 0:12:23.040 --> 0:12:24.640 to a country that's so unpredictable. 0:12:24.760 --> 0:12:25.960 Well, we're going to pick up on a lot of 0:12:26.000 --> 0:12:28.240 these themes in a special edition we're going to do 0:12:28.600 --> 0:12:32.600 next week to close the year of these elections that 0:12:32.640 --> 0:12:35.920 we have been covering in depth, and we look forward 0:12:35.920 --> 0:12:38.280 to hearing from Steph again. Steph right now is I 0:12:38.320 --> 0:12:42.199 don't know, recovering retreating from a spin room somewhere anyway, 0:12:42.760 --> 0:12:44.920 Now on to the rest of the show. This is 0:12:44.960 --> 0:12:48.440 our Big Take special podcast on the American election. 0:12:57.000 --> 0:13:00.000 At around two thirty on Wednesday morning, Donald Trump took 0:13:00.080 --> 0:13:02.720 the stage at his campaign headquarters in mar A Lago 0:13:03.120 --> 0:13:05.680 to claim victory in the US presidential election. 0:13:06.280 --> 0:13:07.360 Look what happened? 0:13:07.440 --> 0:13:08.199 Is this crazy? 0:13:14.640 --> 0:13:19.160 But it's a political victory that our country has never 0:13:19.200 --> 0:13:21.800 seen before, nothing like this. I want to thank the 0:13:21.840 --> 0:13:26.520 American people for the extraordinary honor of being elected your 0:13:27.400 --> 0:13:30.679 forty seventh president, and you're forty fifth president. 0:13:31.040 --> 0:13:34.360 Earlier, as the campaign watch party for Vice President Kamala 0:13:34.360 --> 0:13:38.280 Harris wound down at her alma mater, Howard University, her 0:13:38.320 --> 0:13:42.280 campaign co chair Cedric Richmond, briefly addressed the crowd. 0:13:42.120 --> 0:13:47.520 So you won't hear from the Vice president tonight, but 0:13:47.679 --> 0:13:50.720 you will hear from her tomorrow. 0:13:51.960 --> 0:13:55.200 When Trump spoke alongside his family, in her circle and 0:13:55.280 --> 0:13:58.960 running mate JD. Vance, he'd already secured two hundred and 0:13:59.000 --> 0:14:02.320 sixty seven of the two hundred and seventy Electoral College 0:14:02.400 --> 0:14:06.120 votes he needed, clinching wins in the key battleground states 0:14:06.160 --> 0:14:11.559 of Georgia, North Carolina, and Pennsylvania. And at five thirty am, 0:14:11.679 --> 0:14:15.800 Trump was declared the projected winner of Wisconsin's ten electoral 0:14:15.840 --> 0:14:19.920 College votes, bringing his total to two hundred and seventy seven. 0:14:20.400 --> 0:14:23.680 As the results came into focus, markets reacted and the 0:14:23.720 --> 0:14:29.120 so called Trump trade searched. Bitcoin spiked, the dollar posted 0:14:29.160 --> 0:14:33.400 its biggest gain against major currencies since twenty twenty, clean 0:14:33.560 --> 0:14:40.800 energy took a hit, and Treasury bonds humbled. Today on 0:14:40.840 --> 0:14:45.080 the show how Election Day played out, reactions from around 0:14:45.120 --> 0:14:48.320 the world, and what we can expect from a second 0:14:48.440 --> 0:14:51.640 Trump term, I'm Sarah Holder, and this is the big 0:14:51.680 --> 0:15:00.360 take from Bloomberg News. It's four am in walk Washington, 0:15:00.400 --> 0:15:05.640 d C. I'm joined by Bloomberg Senior Washington editor Wendy Benjaminson. So, Wendy, 0:15:05.800 --> 0:15:10.680 for people waking up today and catching up what happened overnight. 0:15:11.200 --> 0:15:14.280 Donald Trump has won the presidency. It was not as 0:15:14.320 --> 0:15:16.520 close as we expected it to be. 0:15:16.880 --> 0:15:19.520 Well, Wendy, how does this year's Trump win compared to 0:15:19.560 --> 0:15:21.720 his path to victory in twenty sixteen. 0:15:22.400 --> 0:15:27.720 Well, it's not that dissimilar. He took all of the South, 0:15:28.480 --> 0:15:33.480 he took a large swath of the Midwest, the Plain States, 0:15:34.080 --> 0:15:38.880 and this time again he managed to break through that 0:15:39.160 --> 0:15:41.400 so called blue wall. I think we're going to have 0:15:41.400 --> 0:15:45.880 to rename that now because in twenty sixteen, Hillary Clinton 0:15:46.000 --> 0:15:50.680 failed to get all of the Pennsylvania, Michigan, Wisconsin, that 0:15:50.800 --> 0:15:54.640 industrial blue wall the Democrats have to win, and it 0:15:54.720 --> 0:15:58.880 appears that Donald Trump succeeded in that blue wall. 0:15:59.200 --> 0:16:02.120 What was Trump to do this campaign cycle that he 0:16:02.200 --> 0:16:03.880 failed to do in twenty twenty. 0:16:04.200 --> 0:16:06.960 Well, this is one of those weird Donald Trump can 0:16:07.040 --> 0:16:11.120 get away with stuff sort of elections. He fared far 0:16:11.200 --> 0:16:14.920 better with Hispanic voters than he did in twenty sixteen 0:16:15.000 --> 0:16:18.280 or twenty twenty. And remember, in twenty sixteen, one of 0:16:18.320 --> 0:16:21.640 his famous lines was Mexico is sending us their criminals 0:16:21.640 --> 0:16:24.840 and rapists, and a lot of Hispanic voters took events 0:16:24.880 --> 0:16:29.960 to that. The Sunday before October twenty seventh, he held 0:16:30.000 --> 0:16:32.640 a rally of Madison Square Garden where a comedian called 0:16:32.640 --> 0:16:36.560 Puerto Rico a floating island of garbage. And yet he 0:16:36.640 --> 0:16:40.120 fared far better, according to exit polls with Latino voters 0:16:40.360 --> 0:16:41.360 than he ever has. 0:16:41.720 --> 0:16:43.840 That didn't seem to matter in the way that people 0:16:43.840 --> 0:16:44.560 thought it might. 0:16:44.920 --> 0:16:50.480 Right, And remember Donald Trump also won this time against 0:16:50.520 --> 0:16:56.360 twenty sixteen with thirty four felony convictions, a civil claim 0:16:56.520 --> 0:17:00.920 holding him responsible for rape, appointing Supreme or justices who 0:17:00.960 --> 0:17:05.359 overturned Roe versus Wade, and a number of other comments 0:17:05.400 --> 0:17:08.440 that he's made or proposals that he has put forward 0:17:08.880 --> 0:17:13.200 that seem anathema to most Americans. And yet here we are, 0:17:13.640 --> 0:17:17.840 and while the gender gap and reproductive rights were the 0:17:17.920 --> 0:17:20.399 issues that were going to push her over the top, 0:17:21.080 --> 0:17:25.639 it failed to materialize against the popular support that Donald 0:17:25.680 --> 0:17:26.720 Trump seems to have had. 0:17:26.960 --> 0:17:29.240 You mentioned some of these issues that didn't seem to 0:17:29.240 --> 0:17:31.280 face voters when it came to Donald Trump. But let's 0:17:31.280 --> 0:17:33.919 talk about some of the issues that did decide this election. 0:17:34.480 --> 0:17:37.240 We've been talking all election season about the polls, including 0:17:37.240 --> 0:17:40.280 the Bloomberg News Morning Consult polls that showed that voters 0:17:40.359 --> 0:17:44.840 considered the economy their number one issue. Abortion also ranked 0:17:44.880 --> 0:17:48.159 highly immigration. What do we know at this point about 0:17:48.280 --> 0:17:51.760 how those issues specifically impacted the results we saw tonight? 0:17:52.040 --> 0:17:57.680 Donald Trump he pinned the economy, the post COVID economy, 0:17:57.720 --> 0:18:02.960 even though it has recovered by all all measures. He 0:18:03.080 --> 0:18:06.200 pinned that on Joe Biden and by extension, Kamala Harris. 0:18:06.440 --> 0:18:10.160 He kept doing that over and over again, even though 0:18:10.200 --> 0:18:15.280 his rhetoric on immigration was authoritarian, talking about deporting millions 0:18:15.320 --> 0:18:18.600 of people, closing the border, building the wall, all those 0:18:18.600 --> 0:18:23.119 sort of things. Voters want a secure border, and he 0:18:23.280 --> 0:18:28.679 talked about it constantly, even down to the falsehoods about 0:18:29.160 --> 0:18:33.040 Haitian immigrants eating cats in Springfield, Ohio. It all spoke 0:18:33.119 --> 0:18:37.840 to voters deep fears about the other. In quotes coming in, 0:18:38.280 --> 0:18:43.679 Kamala Harris talked a little about immigration, saying that she 0:18:43.760 --> 0:18:47.359 would sign the bill that Donald Trump killed last year 0:18:47.480 --> 0:18:52.159 in Congress. She talked about a caring economy and opportunity economy. 0:18:52.760 --> 0:18:55.959 But a lot of the time the Democrats focused on 0:18:56.160 --> 0:18:59.920 just how awful Donald Trump is, and people who think 0:19:00.080 --> 0:19:03.560 he's awful already think he's awful the people. Then there 0:19:03.560 --> 0:19:06.200 are people who think he's an awful person, but they 0:19:06.320 --> 0:19:09.159 like his policies. And then there's the people who actually 0:19:09.200 --> 0:19:13.800 don't think he's awful. Donald Trump is awful is now 0:19:13.840 --> 0:19:18.800 a proven two time losing strategy, And yet the Democrats 0:19:18.880 --> 0:19:21.119 kept doing that over and over again. 0:19:21.359 --> 0:19:24.720 And here we are, well, what about Trump's economic policies 0:19:24.920 --> 0:19:27.200 attracted voters and how much are we going to see 0:19:27.240 --> 0:19:28.040 the results. 0:19:28.720 --> 0:19:31.480 Well, that's going to be the big question, Sarah, because 0:19:31.720 --> 0:19:36.480 his economic policies he promised to offer. He offered so 0:19:36.600 --> 0:19:39.520 many tax cuts that if every single one of them 0:19:39.520 --> 0:19:42.720 were enacted, I'm not even sure the US government could 0:19:42.760 --> 0:19:46.080 function because there just wouldn't be enough money coming in. 0:19:46.720 --> 0:19:49.879 So some of those will be enacted, but it couldn't 0:19:49.920 --> 0:19:53.560 be all of them. The tariffs he is proposing, placing 0:19:53.640 --> 0:19:57.560 sixty percent tariffs or more on imports from China that 0:19:58.280 --> 0:20:01.800 many economists say is going to raise prices for consumers. 0:20:02.680 --> 0:20:07.320 And his immigration policy if he carries out the deportation 0:20:07.480 --> 0:20:12.960 of twelve million undocumented workers in this country, an undertaking 0:20:13.480 --> 0:20:16.400 that I don't even know how something like that works 0:20:16.480 --> 0:20:19.680 or how long it would take. Nevertheless, that is going 0:20:19.760 --> 0:20:23.920 to put a huge hole in the construction industry, in 0:20:24.119 --> 0:20:28.520 the agricultural industry, and could possibly hurt the American economy. 0:20:28.880 --> 0:20:33.080 So we'll see how popular these ideas are after he 0:20:33.160 --> 0:20:34.200 begins to enact them. 0:20:34.480 --> 0:20:38.080 Well, despite these long term concerns, and even before some 0:20:38.160 --> 0:20:41.119 of these key states we're talking about were called, we 0:20:41.200 --> 0:20:46.800 saw markets responding to Trump's lead. How did they respond well? 0:20:46.920 --> 0:20:51.200 The dollar got stronger overnight in preparation for these tariffs 0:20:51.400 --> 0:20:55.640 to be enacted. It's very good news for bitcoin. He's 0:20:55.680 --> 0:20:59.160 a huge supporter of crypto, and a number of markets 0:20:59.400 --> 0:21:03.240 rose and anticipation of certainty. I think it is not 0:21:03.320 --> 0:21:06.480 necessarily that they are happy Donald Trump won. It's they 0:21:06.520 --> 0:21:09.959 know who the president is and they are reacting to them. 0:21:11.560 --> 0:21:14.520 After the break will dig deeper into the Trump campaign 0:21:14.640 --> 0:21:19.199 promises that could become the administration's policies and what it 0:21:19.240 --> 0:21:30.240 all means for the global economy. Wendy What if Donald 0:21:30.320 --> 0:21:34.199 Trump's promises on the campaign trail told us about what 0:21:34.359 --> 0:21:38.919 his next administration is likely to prioritize in office. 0:21:39.000 --> 0:21:42.840 His priorities will certainly be the economy and immigration first 0:21:42.880 --> 0:21:47.080 and foremost. The difference this time is that in twenty sixteen, 0:21:47.240 --> 0:21:50.040 a lot of traditional Republicans, because that was the only 0:21:50.160 --> 0:21:53.879 kind there was in twenty sixteen, joined his cabinet, joined 0:21:53.880 --> 0:21:58.880 his administration because they wanted to show this newcomer how 0:21:59.080 --> 0:22:02.800 government works and set up some guard rails for some 0:22:02.840 --> 0:22:06.639 of his more outlandish ideas. That's not happening this time. 0:22:07.080 --> 0:22:09.600 This time, he is going to be surrounded by people 0:22:09.600 --> 0:22:13.200 who are loyal to him. Loyal to him is the keyword, 0:22:13.280 --> 0:22:16.560 not the Constitution, the rule of law, things like that. 0:22:17.040 --> 0:22:19.399 So I think there is some fear out there about 0:22:19.440 --> 0:22:22.600 the disappearing of the guard rails that were there in 0:22:22.640 --> 0:22:23.400 his first term. 0:22:23.720 --> 0:22:27.240 What do tonight's results say about the future of abortion 0:22:27.400 --> 0:22:28.760 access in this country? 0:22:29.480 --> 0:22:32.240 Well, it is certainly now a state's issue. There is 0:22:32.400 --> 0:22:36.560 not enough Democrats or pro reproductive rights members of Congress 0:22:36.800 --> 0:22:40.440 to codify Roe Versus Way to put abortion rights back 0:22:40.520 --> 0:22:44.400 into law, and so the Supreme Court decision to send 0:22:44.480 --> 0:22:46.800 it to the states and have a patchwork of laws 0:22:46.800 --> 0:22:50.520 all over the country seems to be now the way 0:22:50.560 --> 0:22:54.400 it is. Remember also that there are still two Supreme 0:22:54.400 --> 0:22:58.800 Court justices who are nearing the age at which they 0:22:58.920 --> 0:23:04.679 might retire or pass on, and Donald Trump will have 0:23:04.760 --> 0:23:08.679 an opportunity with a Republican Senate, at least for the 0:23:08.680 --> 0:23:14.840 first two years, to appoint two more conservative justices on 0:23:14.880 --> 0:23:18.880 the Supreme Court, which would of course make the Supreme 0:23:18.880 --> 0:23:21.320 Court one of the most conservative in US history. 0:23:21.600 --> 0:23:24.960 So if Republicans do maintain control of both chambers of 0:23:25.000 --> 0:23:28.320 Congress and the Presidency, what will it mean for US 0:23:28.359 --> 0:23:32.280 spending on geopolitical conflicts like the war in Ukraine or 0:23:32.400 --> 0:23:33.200 in the Middle East. 0:23:33.760 --> 0:23:37.160 Well, the Ukrainian President Vladimir Lensky put out a statement 0:23:37.200 --> 0:23:42.160 this morning congratulating Trump and looking forward to his decisive leadership, 0:23:42.200 --> 0:23:45.639 and that was the right thing to say. Diplomatically, Donald 0:23:45.680 --> 0:23:49.679 Trump is very much into making deals. He wants to 0:23:49.680 --> 0:23:52.200 make a deal with Putin. He wants Putin and Zelenski 0:23:52.280 --> 0:23:54.960 to come to a table and come to terms. Those 0:23:55.080 --> 0:23:59.680