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tv   Bloomberg Markets Balance of Power  Bloomberg  November 6, 2019 12:00pm-1:00pm EST

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chief washington correspondent kevin cirilli is at the white house. we want to talk about the elections yesterday, but first we have to turn that reuters report just out that the u.s. china trade deal may have to wait until december. this is a reuters report. certainly the market does not like it. did not like it at all. markets reacting on the news that president trump did not get to finalize or sign that deal until december. a key part of that agreement is that potentially those tariffs set to go into effect on billions of dollars worth of chinese imports into the united states would be off the table in mid december, december 15. reuters reporting that scheduling conflicts might have to prevent president trump and president xi from getting together to sign the deal. originally they had planned to
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sign it at the economic summit in july. that was postponed indefinite -- in chile. that was postponed indefinitely due to the protest. then president trump circulating they would sign that agreement in iowa or alaska or somewhere in china. reuters reporting that they might have to wait until december. david: is not just the december 15 tariffs. yesterday the reports there might -- they might roll back the september ones. i wonder if it is scheduling problems or there is more to be done? kevin: i have talked with several sources working with the white house in terms of negotiating with the chinese, and what they indicated is this has been an incredibly volatile negotiation, to put it mildly. in addition to key aspects related to access to financial service industries in china, agricultural purchases have been on the negotiating table, with
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china saying they would be open to purchasing more agricultural products from the u.s. let's not lose sight of the more contentious issues, including intellectual property theft. david: intellectual property is something that came up in connection with the possible rollback on september 1. some were saying at the white house that if china wants to rollback, you will have to give us more on intellectual property. we know that is a sticking point for the chinese. they say they might need legislation to get it done. that, it is one area where the president enjoys bipartisan support on capitol hill and pushes back against the chinese narrative that president xi would be able to outlast the trump administration, whether it be for another year or another five years. there is a sense republicans and democrats in washington have been incredibly critical for beijing over how they have handled the issue of intellectual property. david: thanks so much, kevin.
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we welcome republican senator mike braun of indiana. we have a lot to talk you about before this happened, but let's turn to this report from reuters that any signing of a first phase agreement might be rolled until december. do you know anything about that? flashust saw the news moment to go. it does not surprise me. i think the chinese have been doing the two step on the negotiating process from the point where it was going to get in several months ago. they are calculating this politically back home. there economy is probably as weak as it has been. we do it from a position of strength, where they are more dependent on us that we are on them. when it comes to anything concrete, i believe you will find them fishtailing on getting it on paper. even if they do put something on paper, i would bid sure we are verifying. they have shown us that they are
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not negotiating in good faith in my mind. that is because i think they are still calculating to try to do this two step right into the november 2020 elections. david: the u.s. economy is doing ok despite what is going on with tariffs. it has come off a little bit, but it is doing ok. at the same time, we've not hit the consumers as much. are you worried about the economy or your constituents back in indiana if those tariffs go on consumer goods just before christmas? end end up that could reading a glitch, but as a main street entrepreneur, what a purred back in december of 2017 was the tax cut and jobs act. that has been what is driving the economy. that is solely responsible for why we have not slept -- why we have not slipped into poor economic performance.
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that is the one significant difference not in place for decades leading up to it. i think that underlies the strengthen our economy. i am more worried about not getting derailed -- more worried about that getting derailed if the other agenda takes place, which hopefully does not per through november of 2020. this is the best economy. i've been at it for 38 years for main street america. the job producers are healthy and thriving. that is what puts us in a strong bargaining position with china. david: i will make a guess the other agenda is the impeachment inquiry. are you suggesting if that goes forward the way the democrats want, that could interfere with u.s. economic performance? sen. braun: not only that, but the policy agenda that stretches from the green new deal, medicare for all, free college tuition, let's maybe get rid of the electoral college, that kind
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of stuff is going to resonate, especially when the economy keeps doing well. i think it will do well generally through the election, and i think that is when all of the craziness when it comes to driving a partisan impeachment inquiry that occurred from the day president trump got elected in november of 2016 to all the things they are talkingthings tf they do take the reins over. there is no way we can pay for it. i guarantee it would take the economy. david: we are talking with senator mike braun, republican from indiana. we talked about the u.s. china trade deal. let's talk about the other big trade issue, the usmca. we talked last friday with the speaker of the house nancy pelosi. this is what she said. she said she did not have a majority of her caucus to go with her. listen to what she said. >> it is about having agreement on the trade agreement.
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it all springs from what is in the trade agreement. i have gone in the past to a floor with a man i already -- with a minority of my members. this is about policy we are -- justhing that is not to pass it -- to pass something less that has true enforcement. david: that was the speaker of the house saying she wants a majority of her caucus. at least on the enforcement side. will she get it? when will we get the usmca approved? sen. braun: she could do this immediately. she might be laying the blame on her caucus. --an guarantee there are not there are enough blue state congressmen that needed along the line along with manufacturing across the country. her caucus is for getting this past. she is playing political ftse because she is afraid it will be a feather in president trump's cap.
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i think they will pay a political price for dragging their feet. she is orchestrating it. she can lay the blame more broadly on the caucus. i do not think that is the case. she is measuring those along with the impeachment inquiry in a calculated way that i think denies president trump anything leading into the 2020 election good david: we are talking about potential political prices. let's talk about the appropriations not getting done. we have increased the debt ceiling and do not have the money appropriated. if we end up shutting the government, would be over the wall, and who gets the blame for that? sen. braun: i believe we should not shut the federal government down through these negotiations. republicans always get left holding the bag politically. somehow, it is our fault. we are not getting any of that done. i was involved in did a lot in the private sector reforming health care, creating a great
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plan for my own company. all of is on the shelf. that is still the biggest issue, the cost of health care. none of that is moving in the impeachment inquiry is now occupying the limited calendar space that was there to begin with. i think there will be a political accountability for that as well. we are not getting any of the things most americans expect us to do because we are focused on other stuff. david: thank you so much. always a pleasure to have you. that is senator mike braun, republican from indiana. now let's check on the markets. we ask how markets are reacting to world event. maybe today there is an answer. abigial: you're right. we have something to talk about. you're talking about a reuters headline about the possibility the u.s. and china not sign that trade deal until december. relative to the reaction from the markets, you asked a key question to kevin cirilli, and that is whether this a matter of
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scheduling in place or does it tell us there is more negotiating going on. the fact that the markets are down so little suggests it is scheduling. the japanese yen, haven assets, and bonds are also rallying. you have a stealth rally for those haven assets. deal,y deal is a delay not as good as a signed deal. what elseides trade, is weighing on the markets or lifting the markets? the markets are doing quite well. abigial: very well. this year the s&p 500 up for its best year since 2013. the bulls in charge. xeroxg story is hp q and and that xerox is interested in buying out hp you. -- hp x. -- hp q. is the huge company, but carl icahn has helped a
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turnaround direct. -- has helped a turnaround xenox. vonnie: the headline crossed -- david: the headline crossed just a few moments ago that xerox has bid for hp. it is a fascinating story because it is two companies who have been tech companies on the wane saying let's get together. abigial: they are trying to combine. the idea would be cost synergies. these are two hardware companies and a time where software and internet companies are doing so much better. you put them together and they save $2 billion or $3 billion. smart folks behind the scenes. i was mentioning carl icahn and the companies come together and 18%.e hp q had been up still right now, up 10%. david: xerox is up as well. he did not always have the
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acquired and the acquirer going up. abigial: that tells you investors and traders like the idea of these two old-school companies coming together. they could save money together and create some sort of hardware giant. got a lot of cash out of the fujifilm deal. a little money to work with. abigial: and they have financing from citi. david: thanks to abigail doolittle for that report on the markets. boris johnson is heading toward an election but seems to have trouble pulling together his own party. that is coming up next. this is "balance of power" on bloomberg television and radio. ♪
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david: this is "balance of
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power" on bloomberg television and radio. we turn to ritika gupta for bloomberg first word news. >> the agreement between president trump and xi jinping to sign their trade deal could be delayed until december. a white house official says iowa is now unlikely to be the venue for the ceremony. sweden and switzerland are under consideration. meanwhile, the house of representatives will begin public impeachment hearings on president trump next week. house intelligence committee chairman adam schiff made the announcement today. three house panels have been interviewing witnesses in private over the last few weeks. amongst them is former ambassador to ukraine. her public hearing is scheduled for november 15. new york city's retiring police commissioner will not have much time off before starting his new job. james o'neill will joint visa as its new senior vice president and global head of physical
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security. o'neill announced his departure from the nypd monday. he said he will be leaving for an unspecified private sector job, calling it "something i cannot pass up." global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. david? david: thanks so much. boris johnson launched his campaign for reelection by going to visit the queen today. he has already suffered a setback when a member of his cabinet was forced to resign. we welcome teresa rafael coming to us from london. forlso had to apologize another making comments. it is not going well. a smootht has not been start for the prime minister. first you had jacob rees-mogg suggesting the survivor of the
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greenfield tower that resulted in so many deaths were somehow responsible. then you have the first ministerial resignation during the campaign since 1974, which complicates the conservative attempt to win seats in wales. this is a welsh secretary who resigned. it has been a rough start. that said, johnson is ahead in the polls and is trying to shift the focus onto parliament, which he blames for failing to allow brexit to be delivered and onto opposition leader jeremy corbyn, who he likened to stalin in an op-ed piece in which he said jeremy corbyn's disdain for the private sector and wealth creation was similar to the soviet dictator. david: the last time we had a general election called by theresa may, it did not go well. it is thought that boris johnson much more charismatic.
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does he have high hopes for his party? therese: it is such a different scenario on all fronts, from 2017. then you had a prime minister who was a fairly wooden campaigner. she called an election she did not have to call. she was up against and opposition leader who proved to be quite adept on the campaign trail. he was not well known. corbyn outperformed expectations, theresa may underperformed expectations. this is just a very different situation. we now have quite a charismatic campaign driven prime minister, a gridlocked parliament, a public that is tired of the brexit negotiations and quite familiar with jeremy corbyn. i do not think it is that similar to 2017. that said, we may get a lot of tactical voting. there is already talk about how that might play out. even though the conservatives
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are ahead in the polls substantially, i would not say this is predictable by any means. david: whatever you might call boris johnson, you would not call him would. many thanks to teresa rafael in london. i want to turn from london to saudi arabia. saudi aramco got a boost in its ipo with news that china is contemplating buying between $5 million and $2 million worth of stock. we welcome our reporter who covers deals for bloomberg in london. this is a big leg up for an ipo that was trouble because the valuations were coming down. dinesh: thanks for having me. this is quite a big boost for saudi arabia and aramco if the chinese end up being up $10 billion of the aramco ipo. obviously, this comes not just as a commercial decision for either party, it is also quite
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political. china is trying to build inroads into the middle east and saudi arabia is one of its key partners to double up its relations in the middle east. , asia is one of its key markets. if you can convince one of its key customers to put big money into the ipo, it will be a big win. david: when the crown prince first went out he talked about evaluation around $2 trillion. that has come down. of thetential interest chinese, i understand the russians have expressed interest. could that valuation go back up toward the $2 trillion mark? dinesh: yes. saudihe very beginning arabia has been keen on getting evaluation of at least $2 trillion, which is seen as ambitious by several investors. as we understand, saudi arabia
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has come down a bit on the valuation expectations. we think they are now looking at raising money at evaluation of about $1.6 trillion, which is still quite high. even at that number, the yield of aramco is likely to be less than the other majors. if they can get this kind of money from chinese and russians, that puts the whole situation in a different play and they can potentially get closer to that mark. $2of now, it looks like trillion is still in ambitious number. david: thank you so much for that great reporting from london . still ahead, cvs shares are higher after posting a healthy earnings report. power" onalance of bloomberg television and radio. ♪
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david: this is "balance of
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power" on bloomberg television and radio. time for the stop of the hour. cvs health is heading for its best day since august after the company raised its 2019 profit forecast. it also posted a strong performance in the pharmacy benefits business. kailey leinz is here to explain. business ispbm called caremark. it is doing well in the quarter. in part that was due to higher claims. the other part was higher drug prices, because as we negotiate those prices with drugmakers for those clients, which include insurers. the drug pricing has been running hot and heavy on capitol hill, and a lot of the conversation has been about pbm, the role they play in this. they seem to be doing well despite that. avid: senator grassley had
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series of hearings. you say they are doing too well because they make a lot of money. andey: a lot of kickbacks as a result they have been in the spotlight. theceo addressed this on call, saying the focus seems to be shifting from the pbm's to the manufacturing. that is why the list pricing of the drugs are what they are. nonetheless, they do have their rates revenue guidance for this business for the year and they're also raising their earnings guidance. it looks like the picture for the pbm guidance could be good. david: i expect manufacturers have a different point of view. there is also been news about walgreens. there might be a move to take it private. where does that stand? kailey: it does not stand anywhere now. it has not happened. reports are they are looking into a possible leveraged buyout. because will be the largest ever, that is more than double the second largest deal, the street does not see it is
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probable. when you actually love the numbers, the math does not work. you are seeing shares underperform as a result. it also has been underperforming cvs in the long term. david: cvs does better than walgreens for whatever reason. kailey: their strategy seems to be working more. walgreens has tilted toward partnership, where cvs is doing things like buying aetna and focusing on health insurance. david: great report. i learned from that. many thanks to bloombergs kailey leinz. up next, depositions continue behind closed doors on capitol hill even as republicans continue to call it unfair and plainly political. we ask our political panel whether that is right. ons is "balance of power" bloomberg tv and radio. ♪ sometimes your small screen is your big screen.
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and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. whether you're travelling around the country or around the house,
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keep what you watch with you. download the xfinity stream app and watch all the shows you love. david: from new york, this is "balance of power," on bloomberg television and radio. i'm david westin. reporter: a surprise drop in
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u.s. productivity last month, the first time in almost four years, decreasing an annual rate of three tens of 1%, suggesting a pickup and efficiency was more than a temporary shift. aban onreed on e-cigarettes in san francisco. the biggest e-cigarette maker, juul led an effort to overturn the law. lawmakers in puerto rico are under arrest in connection with a corruption probe in the u.s. territory. fbi agents took a senator and other people into custody. says.s. attorney's office this includes former municipal employees indicted on allegations of theft/bribery involving programs receiving federal funds.
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russia set to deliver a sophisticated antiaircraft missile system to serbia after the u.s. warned of possible sanctions against the balkan country in the event such persons is -- in the event of such purchases. belgrade has pledged to stay out of nato. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: thanks. the number three state department official giving testimony today in front of the intelligence committee, chaired by adam schiff. hearings go public next week. panel.ome our political
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reverend watkins comes to us from the city of philadelphia. you are a democratic strategist. concludingean he is the investigation? they have had significant, the fact that it is going public, the hoopla the republicans made a couple weeks ago about not being included in the hearings, was blatantly false. i am not sure if he has concluded. i think it is important and he knows the public needs to be aware and privy to see what is going on. it is a public move. it is smart on his part. it is yet to be seen whether the general public, with what we are seeing in top districts, i work with a lot of moderate democrats in the house, people really don't know as much as you and i
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and everyone else paying attention to this everyday, know. it could be positive. it is yet to be seen whether voters in swing districts, independent voters, center-right voters, if this is really resonated with them. david: what about what kristin said? some people call it the republican wall, has been holding firm. the witchhunt, the president says. if you look across the country, peopleling is at 49% of think there should be impeachment and he should be driven from office. joe: it depends on who you ask and how you ask the question, from the standpoint of democrats, a majority, 80% plus of democrats would care to see the president impeached and removed. republicans, it would be the opposite. probably 80 plus percent don't wish to see him removed.
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democrats are wise to have a sober three citation of the facts. nancy pelosi has been sober in her delivery saying she takes no joy in this and is trying to do her job and get to the bottom of it. that is probably the best way for democrats to have a chance of moving the numbers in the direction they wish. the republican wall is firm now and likely not to change. david: kristin, two things. politics of the election year with the impeachment inquiry. nancy pelosi says they are separate. does it help or hurt democrats? generally, it is hurtful to certain democrats in the long-term. if you're looking at independent and center-right voters in tough districts where democrats we need in order to keep the house,
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ultimately it is probably hurtful for them. however, we are seeing in polls, district by district, that were not as far underwater as we thought on impeachment. i understand where the speaker is coming from. people are still voting on local issues, on the issue of health care, jobs. he will see a lot of members in districts, particularly in the house, also in the senate, focus on the issues and away from impeachment. david: our political panel, joe and kristin. joe, elections yesterday, state and local results. kentucky, we are not sure yet. looks like a democrat has taken it from a republican. not official. virginia, first time in 25 years you have both houses of legislature, democrat. how important is that? joe: these are important
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numbers. the fact that both houses in virginia have gone democrat, really is something for republicans to take note of as 2020 approaches. virginia is such an important state. right now it is a blue state, given last night. kentucky, not so easy to say yet. looks like the republican governor will lose his seat. had a blackou republican who won state, the first time a republican has been had a black elected statewide attorney general, certainly the first african-american to hold the seat. this african-american is a former aide to mitch mcconnell who has not had high numbers for approval but this bodes well for mitch mcconnell. doesn't have a problem growing in the suburbs?
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joe: republicans have to be careful about the message and the tone. america is becoming a more brown --ntry anymore diverse place and a more diverse place. people want to hear about lower taxes and less regulation but they also want to take into consideration this is a more diverse country. in pennsylvania, republicans have lost delaware county outside philadelphia. a very important county, that was just several years ago solidly republican. that is not democrat. 2000, president george w. bush, then governor, won with compassionate conservatism. do republicans have a problem here? kristin: i think so. i am not a republican strategist. i am from texas. compassion and conservatism, the republicans could take advantage of that now
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but they have a problem. it is the opposite with president trump. looking at the kentucky governor's race, yes, very unpopular. country and the rural districts. trump took it by 50%. beshear won those narrowly. taking those interesting pieces from the state and looking at how, what that means for 2020. david: many thanks. coming up, we talk with mayor randall woodson of birmingham, alabama, governing as a progressive in a red state. that is next. "bloomberg markets," "balance of power," on bloomberg television and radio. ♪
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david: this is "balance of power," on bloomberg television and radio. dfin was sworn in as the birmingham, alabama mayor two years ago. mr. mayor, thank you for coming in. >> happy to be on. david: let's start with some basics. what is the economic state of your city? randall: the largest city in the state of alabama. we make up 31% of the gdp for the state. our economy drives the state. i'm happy to report our employment rate is low. -- our unemployment rate is low. so many of our citizens have tapped out of the labor market trying to find of limit. since i have been in office, the
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, gearing toward that 3.1%. we always have to remember the birmingham population, probably including new york, like other cities, doubles during the daytime. comingriven by people outside of the city to have these jobs. in my position as mayor, we have to make sure residents who live in the city have gainful employment. david: president trump came to office a year before you did. he wanted progrowth and pro-jobs policies. to what extent, what he has done helped you in alabama? birmingham, alabama is a postindustrial economy. we are moving towards a knowledge based economy. we are in support of startups. my position, what we have tried to do is totally re-create how
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we engage and encourage business to grow and develop in the city of birmingham where we are not necessarily always looking at land and how incentives were done in the past. we look at what our employers and what small business owners need, from an employment standpoint, and investment in the workforce. the type of investments and incentives we have presented for potential people to come to our city is, how can we support your workforce caps? i cannot tell you necessarily where, what the president has done. what i can tell you is we are laser focused on making sure we have an economy that works for all birmingham. david: you are a progressive. donald trump did very well in the state, maybe not in birmingham. how does that work? what drives your campaign, your administration?
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visit economics, social? what drives voters to you in birmingham? mr. mayor: the city of birmingham is a blueberry in tomato soup. in that regards, it is important we are progressive and that i remind people in birmingham, we believe women's rights are human's rights. it is important we let people know we are open for business, whether it is social or on the economic side, that we have to drive a progressive agenda for all people that live in our city. going back to the social aspects of this, there are some things that have taken place at state level that the city of birmingham has not agreed with. we have to push our economic agenda harder. david: we are speaking with the -- how do mayor -- how doour
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you make your city hospitable to business? typically we think about tax incentives. mr. mayor: the first thing we want to remind people, in the city of birmingham, we are open for business. the second thing, around incentives, a knowledge-based economy, those incentives are not necessarily geared toward place. there more now geared toward how do you invest in the workforce? we have created various incentive packages that allow an employer or small business or a startup to receive an incentive, a tax rebate based on the investments we have made and they make in their actual personnel which includes hiring locally. our entire responsibility at let small is to businesses know, not just existing businesses in birmingham, but across america, that they can be successful in birmingham because we have created an ecosystem where we support them, lock arms with them and leverage capital.
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david: you are mayor of a significant city. mayors have a particular role. they have to get stuff done. another mayor is running for president now. what do you think of him? january,: i met pete, 2018 at a breakfast. he let me know he was running. he is a part of a cohort of other mayors across the nation having these conversations about our role and responsibility as far as if we cannot get it from the federal level, from the state level, then it is incumbent upon mayors to really drive economic growth in cities and invest in infrastructure, social justice issues as well. pete, like many other democratic presidential candidates, making their mark by saying and communicating to everyday residents in america how and why the white house should be different. what he is doing is a great job. david: the policies he espouses
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so far, do they resonate with you? we have a president in the white house, that did that, that would help me in birmingham? mr. mayor: the policies mayor pete is talking about and many of the other candidates are talking about, i like many of their policies. many of them speak to me in my position as mayor, but i think about mound mother, who was an african-american woman, 64. what are her issues? what is she concerned about? for all the candidates, they need to stay tuned to who makes up the base of the democratic party and in particular, pay closer attention to the south. although we respect what is going to happen in iowa and new hampshire, whatever happens in south carolina, the same thing will happen in mississippi, alabama, georgia, louisiana. david: we will have more with the mayor coming up at 1:00 this afternoon on radio. control ofin back
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virginia state government for the first time in decades. does this spell disaster for republicans in the suburbs? this is "balance of power," on bloomberg television and radio. ♪
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>> if you lose, it sends a bad message. sends a bad -- they will build it up. here's the story. if you win, they say ho-hum, if you lose, they say trump suffered the greatest defeat in the history of the world. this was the greatest. you cannot let that happen to me! david: that was president trump in lexington on monday. matt bevin did not get reelected. from charlottesville, virginia, editor-in-chief of the crystal ball. great to have you with us.
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in kentucky, it looks like, not official yet, but that mr. bevin has lost his position as governor. larry: it is an embarrassment for president trump. he predicted it himself on monday. it is the logical thing to say. he chose kentucky for election eve. normally pick something then you think you will really make a difference and get credit. he miscalculated. it is possible bevin would have lost by more had trump not appeared. i do not know. no one could know that based on polling. you either win or lose in politics. the rest is explanation. david: seems right. mississippi, the president wins. larry: that is true. it was by single digits.
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mississippi is as heavily republican as you will find. trump won by 17 percentage points. most republican candidates win in double digits. not, iternor elected, was around 6%. david: virginia, seems historic. , 1983 they have not have both houses and the governor all be democrat. what does it say from purple to blue? larry: it has been blueish for several years. this accelerated in the new century, especially since 2008, when barack obama became the first democrat since lyndon johnson to get virginia in a presidential contest. won aicans have not state election since 2009. they lost everything.
12:53 pm nothing left to did thehe question, elections tell us anything about what happens in 2020? policiesxtent the sum by democratic candidates infected the elections? we had governor bevin, the former governor of kentucky, go after universal health coverage. >> this is a battle. the president is saying, one size does not fit all. universal coverage is a pipe dream. it really is. david: is that resonating with voters? are people getting nervous? are, we did not see it yesterday. that does not mean it wouldn't happen in 2020 if it is a major
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focus of the presidential race. the off year election results reinforced the idea that obamacare is still popular. that is what democrats should be stressing. they may or may not want to go further than that. first, they need to make sure obamacare is stressed. it benefits them. david: key issue for the democratic party going into this election. you have a complicated it up there in the lead saying, we want to do away with the affordable care act, go with medicare for all. shealked to nancy pelosi, is anxious about what that does to her, 2020. larry: that was important. nancy pelosi is a liberal democrat. she would embrace the label. she is also pragmatic about elections. she wants to win them. well-off are usually if they listen to what she is saying. she wants to win. you can only get some of what
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you want if you win. you can talk about medicare for all and everything for all but if you do not win the election, you get nothing for all. david: given the economy, can president trump be unseated? economists say it doesn't have to be wild. inflation employment, -- the incumbent wins? larry: that is what the models say. one of those models and the proponent of it predicted using it, that hillary clinton would win easily in 2016. we all did badly in 2016. as far as 2020, how do you factor in donald trump's personality? how do you factor that in? tell me how you do it? the truth is, if the economy ran everything, democrats should
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have lost everything in 2018. there was a very good economy for the midterms. instead they took over the house and did well in governors races. people who attempt to model elections based on one thing or one big category of things usually are wrong. david: very wise counsel from larry. thank you so much. continues onower," uber radio. we will have more with the mayor of birmingham and we talk with cory booker's campaign manager. this is "balance of power," on bloomberg television and radio. ♪ here, it all starts with a simple...
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scarlett: i'm scarlet fu. this is bloomberg etf. scarlet: zero-sum game. darkside for funds that cost next to nothing. debbie will be our guide. -- or fomo.o the cost of missing out on the play. shippers race the clock to


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