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tv   Bloomberg Markets Balance of Power  Bloomberg  February 26, 2020 12:00pm-1:00pm EST

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where the world of politics meets the world of business. on the brief today, the continuing spread of the coronavirus across the globe. and what the united states will do to try to contain the virus right here. so much for your continued reporting in hong kong. where are we on the spread of the coronavirus? thinksnt trump said he we are getting it under control. >> thinks we are getting it under control. >> he said that the other day, and xi jinping said they had the capacity to limit what was going on and that was working. mr. trump will be addressing the nation and the world in about six hours from now to give an idea as to what they might be doing next to prevent an expansion of this. chuck schumer also trying to finalize plans for an $8.5 billion program according to
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reports bloomberg has seen. nonetheless we have a virus which continues to spread. in iran we have 19 deaths. the first case in latin america that,zil on top of greece, bahrain, and kuwait adding to numbers they have already. the disease control of the european commission battening down the hatches as in italy we see the death toll mount and the number of cases multiply. in britain we have an isolation facility being set up at london's heathrow airport. this is in the backdrop of an overseas expansion. i mean outside of china. in china itself, the spread seems to be getting slower. anomaly, 400is an one new cases in the last 24 401 ins opposed to -- the province. there are economic consequences. david: let's talk about the
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economic consequences. we always want to remember this is a human tragedy, but it has economic and business consequences. they come in two different forms. ies shutting down of factor and the effect on consumer confidence, the willingness to spend money. rishaad: we were talking yesterday about how you could cut interest rates by 25 basis points, but what difference would it make on families are so concerned about their loved ones health and do not want to go out on the streets. every hong kong permanent resident will be getting $1284, helicopter money. it is a very serious problem. resident will bevietnam halfingh projections for this year. they were looking at 10.5%. cathay pacific based in hong kong, 25,000 staff have been asked to pay -- have been asked to take an unpaid leave of three
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weeks. parked on the side of the airport, which is over there. i want to end on something. how thealked about suppression of information made things worse. i want to go back to 102 years ago, to the spanish flu, which led to the death of about 50 million people. i'm not saying this is anything on that scale. part of that was blamed on wartime censorship so people cannot get information as to what was going on. they hope history does not repeat itself. david: absolutely. i was not even around for the spanish flu. great reporting in hong kong. now let's go back to new york and drew armstrong to talk about what united states is doing or can be doing to deter the virus. we have the president addressing us at 6:00 this evening eastern time. drew: two key things to keep in
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mind. we only have about a dozen cases that have been diagnosed in the united states. most of those are travelers from china and the flow of travel from china has been great read reduced -- have been greatly reduced. on the other hand you have cdc officials warning we are going to see more cases and we need to situationsd to see like we have beginning to emerge in europe in the united states. giving very dire sounding outlooks about what that would look like in the u.s. in terms of the response. there are two sets of ideas people need to be able to combine. if you look at how this is beginning to slowly spread around the world or at least emerge around the world, that probably does happen in the united states. david: are we confident we know the way it is transmitted? that seems to be a key element in figuring out how to stop it. drew: from what we know, it is like any other respiratory
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disease, and the steps you would take to not get the flu or a cold if you live in new york city are exactly the same ones you would take to not get the coronavirus. wash your hands, use hand sanitizer, covering your mouth when you cough. not holding onto a subway pole and rubbing uri. all of the things we hopefully -- and rubbing your eye. all of the things we hopefully practice in: flu season. david: thanks to drew armstrong. we will bring you president trump's news conference at 6:00 this evening. at what iset a look going on the markets. we have an uptick today. abigial: we had an uptick but a bearish development over the last 10 to 15 minutes. at the highs, the s&p at what is going on the markets. 500 had been up 1.7%. now the s&p 500 is up just .5%. even when each of the major indices was up more than 1%, there were cracks in today's rebound rally.
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oil was lower, bonds were higher. at this point, the dow transports down 1%. it seems like the bulls wanted to buy into the by the depth mentality -- buy the dip mentality not working. the coronavirus fear is back into the picture. the dow transports sliced below the 200 day moving average in the past. without exception that means the s&p 500 will go down to at least its 200 day moving average. david: as you follow these keying off it just of whatever we get good bad or indifferent about the coronavirus? at 6:00 this evening, will the markets be looking toward what president trump has to say with his cdc officials? abigial: the futures market will be open it so be possible to track the live reaction to what president trump does say. at this point, in terms of the markets themselves, there is so
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much technical buying and selling. these key technical levels and moving averages traders and investors want to pay attention to algorithm seem to be programmed into the 200 day moving averages on a number of different entities. even in europe, the stoxx 600 went below its 200 day moving averages. all of this does suggest -- we have a commodity complex on the year down 9%, the s&p 500 down 2%. when you have a divergence of that sort among risk assets it tends to suggest a disagreement, more volatility ahead. we had been in that period last year of the melt up of small moves. now we're into a period of the moves and they seem to be more toward the downside. david: very helpful. thank you to abigail doolittle for that report on the markets. our crumpton is here with bloomberg first word news. -- mark crumpton is here with first word news. mark: the coronavirus continues to spread. brazil has confirmed its first case. a 61-year-old brazilian who
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recently traveled to italy tested positive for the illness while dozens have been tested from mexico to brazil with similar symptoms. this marks the first confirmed case in latin america. president trump will hold a news conference at 6:00 p.m. new york time to discuss the outbreak. you can watch it on bloomberg television. hong kong is trying to push in the economic blow from the coronavirus and political unrest. the government unveiled a budget packed with giveaways. one of them is a one-time cash payment of almost $1300 for every adult permanent resident. economists are forecasting hong kong's economy will shrink for a second year in a row. turkey is signaling it may try to challenge russian control of syrian airspace. the turkish president said he is looking for ways to strike attacking syrian government forces from their own skies. turkey has raised about 10,000 lib in its biggest
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move to counter the syrian government offensive. in the u.k., jeremy corbyn accused boris johnson of being a part-time prime minister. johnson failed to visit flood strip and parts of the u.k. last week and instead stated government owned country mansion. it was also criticized by members of his own conservative party. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. crumpton. this is bloomberg. david? david: coming up, palmetto state firewall. joe biden picks up a key endorsement in south carolina. will it be enough? we had to charleston, next. ons is "balance of power" bloomberg television and radio. ♪
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david: this is "balance of power" on bloomberg television and radio. i'm david westin. the democratic candidates ripped into each other ahead of the democratic primary saturday in south carolina. most of the attacks were aimed at bernie sanders. >> not only is this a way to get donald trump reelected, we have a house story about, we have a senate to worry about. >> i like bernie. we came in together in the senate. i do not think this person is the best to lead the ticket. >> i did the work and bernie's team trashed me for it. >> bernie's team has not passed much of anything. >> donald trump thinks it would be better if he is president. i do not think so. vladimir putin thinks donald trump should be president and that is why russia is helping you get elected.
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for more on the big takeaways, let's go to charleston, south carolina, where kevin cirilli is standing by. give us your take on that debate. biden, they are hoping this will be a launchpad into the south carolina primary this weekend, where he is still leading the pack amongst democratic presidential candidates. they are then hoping that momentum will fuel them into super tuesday one week from today. talking with several the top advisors to the biden campaign they feel confident at his performance last night. beyond that, bernie sanders also saying that if he is not able to get the 1991 delegates needed to clinch the nomination, that he would get a plurality of those delegates and that will allow him to say he is the democratic nominee. from there, the whispers and the
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chatter in the center is that expect people to drop out sometime after super tuesday next week. that would mean that the next round of contests, this field will be very much more narrow and the contrast will grow sharper. david: thanks very much to kevin cirilli, who has done a terrific job in south carolina covering that debate. for their analysis, we welcome bloomberg contributor jeanne zaino in new york and in washington, lanhee chen, a fellow at the hoover institution. what will make a difference in this primary? let me start with one thing. we had congressman clyburn endorsing vice president biden. this is what he had to say. >> i've known him for a long decided i had not whether to share my vote with the public. i want the public to know that i'm voting for joe biden.
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i know joe. we know joe. us. importantly, joe knows we know jim clyburn has been a very influential democratic figure in south carolina. do endorsements mean this year what they have meant in past years? jeanne: he is so well-respected and has such a big voice in the state, yet we have seen these typical endorsements from more establishment figures like clyburn, who has a powerful position in the house close to nancy pelosi, may not carry the weight they used to, particularly with voters supporting bernie sanders and particularly with young people. for joe biden this is an important moment, and it should matter that i do not know if we will see that. in nevada, the lack of an endorsement by the culinary
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union did not do much. members still went out and supported bernie sanders despite their clinics is a -- their criticism. david: what is going to make a difference? maybe endorsements? maybe not endorsements. there were issues mentioned along the way but that did not seem to be a debate about issues. lanhee: it was not a debate about issues. i think this contrast on medicare for all elizabeth warren and bernie sanders have embraced, and the more moderate options proposed by pete buttigieg and joe biden, i think that dividing line will be important as we move ahead in this campaign. i think what is coming down to, what democratic voters are looking at as far as i can tell is who has the fire in the belly to go against donald trump. who will be a candidate who can present and prosecute a case against trump. not so much the substance of that case, but who has the wherewithal to take him on.
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that is why you saw joe biden get more aggressive last night. i thought it was his best debate of the season so far. it is going to be those personality elements, those elements of the style with which these candidates take on donald trump that will be more significant in this campaign. david: i find that fascinating and it goes to the electability we talked about before. is it turning into who can be as trump as trump is? explosive?d elizabeth warren was combative. jeanne: she was combative. pete buttigieg is a good debater. i agree that joe biden had his best performance. it is the one thing that unifies all democrats, who can be donald trump. it is striking that last night just like in the debate in nevada, very little was taken to donald trump. they were fighting each other in a circular firing squad, yet very little fire on donald trump. in my mind and the mind of other
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people, donald trump came out a winner. democrats will have to take it to donald trump. maybe they will do that after super tuesday when the field winnows. this will get very tight with donald trump very quick if they do not winnow the field fast and look at donald trump and start to take him on. david: did donald trump when the debate last night? lanhee: any time democrats are focusing their fire on one another and not him i think it is a benefit. the reason why the trump team has to be feeling good about where they are positioned is because of bernie sanders's continued success. you have the leading candidate for the democratic party who has repressiveba at the history of the cuban regime. that does not even seem to trigger a response amongst the electric. i guess we will -- amongst the electorate. it has not seemingly been a factor. i think for the trump team they
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are looking at this gleefully. they liked the fact candidates are attacking one another. having been involved in a number of these competitive primaries, i can say it is not necessarily a bad thing when candidates are trying to make each other better. there is not a bad thing in candidates attacking each other. you see what happens in uncompetitive situations, people come out unprepared. there is a silver lining to the yelling we saw last night goi. david: people do not typically elect presidents on foreign affairs. it is domestic issues. it is not just that bernie sanders was saying there are good things about castro in russia, but he also took on the united states and said we have had terrible foreign policy in respect to overflowing -- overthrowing the shaw of iran and guatemala in the 1950's. will that work on the democratic side? jeanne: i do not think it will work in the swing states democrats need to win the
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election. it will not be a selling point to have bernie sanders in florida talking about the benefits of reading and literacy in cuba under fidel castro without at the very least taking on the people aspects of that regime, of which there are many. i think this is a problem for democrats. i agree that foreign policy seldom elect presidents unless we are in a crisis time, but this is broader than a foreign policy issue. this is who bernie sanders is and has been. as the american public gets more and more introduced, i think it will be hard to sell in places like virginia, south carolina, florida, pennsylvania, and elsewhere. panel ofank you to our jeanne zaino and lanhee chen in washington. don't forget to tune into our special coverage on super tuesday. --will have the allows us the analysis of the democratic contest march 3 at; -- at 7:00 eastern time.
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his firstew ceo and challenge may be the coronavirus. that is our stock of the hour. ons is "balance of power" bloomberg television and radio. ♪
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david: this is "balance of power" on bloomberg television and radio. i am david westin. time for the stock of the hour. disney shares are in the red after the company named bob quebec as the new ceo -- bob chapek as the new ceo. down onend to double the exact same strategy bob has established 15 years ago that has served us so well. the thing i have taken away from bob iger's legacy is get the content right and everything will follow suit. we welcome abigail doolittle for what the move may mean for shareholders of the walt disney company. they are down right now.
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abigial: what is interesting about what he was just saying is he is planning on doubling down on bob iger's strategy. everyone knew he would step down as ceo but a lot of people were caught upside by the fact that it was so seven. the last quarter relative to streaming was very good. streaming just happened. that is one reason why the stock is down. the second is why bob chapek. many thought the head of streaming would get it. you can make the case and you would know more about me, that bob chapek will be just the seventh ceo at disney. loyalty is clearly a big deal. that could be a big piece. he started off with dvds back in the day and then went to retail. now he is -- was the head of parks. that is their biggest revenue segment so that might be the reason. david: i know kevin mayor, he is a smart dealmaker and has been the architect of many of the deals bob iger has done. bob chapek knows distribution
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and marketing. it may say something about where the market goes next. do they need good deals or do they need to execute on the deals bob iger has already done? abigial: that is a good point. the biggest deal, fox, and then over the last years pixar and lucasfilm, they have the legacy content in place. -- isoint that bob chapek someone who can get more done on a day-to-day basis, especially around the parks. this stock is almost in a bear market from its all-time high, much of that coming just in the last week on coronavirus fears. they have hong kong -- david: they have hong kong as well. also substantial cruise lines. abigial: that is an amazing point. all of the turmoil around the coronavirus in cruise lines. when you think about disney i think about those parts. they have closed the asian one. now we have the cdc saying it is
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when, not if that can affect operations here. who wants to get on a cruise line? believe cruise line is included in that 37% segment. that could be a real hit. david: they have great assets and they will come through at some point. thanks to abigail doolittle. up next, the united states prepares for a possible coronavirus pandemic. we will speak to a doctor who has been studying the coronavirus for more than four decades. that is coming up. this is "balance of power" on bloomberg television and radio. ♪
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david: from new york, this is balance of power. i'm david westin. we go now to mark crumpton. joe biden's struggling
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presidential campaign got a boost today. he claimed one of south carolina's most coveted endorsements. threwssman jim clyburn his support behind the former vice president. it's three days before south carolina's primary and six days before super tuesday. the pentagon says it needs at least 167 billion dollars over the next five years to strengthen and modernize the u.s. nuclear weapons program. the proposal includes 29 billion dollars for next year, increased gradually to 38 ilion dollars in 2025. the plan reflects a major boost to an effort started under president obama to replace aging nuclear systems. the violence in india has claimed more lives. officials say at least 24 people were killed and nearly 200 others injured in days of clashes in new delhi. the classes where the worst
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communal riots in the indian capital in decades. i 13.5 billion dollars settlement between victims of california's wildfires and pg&e. the utility blamed for causing them was supposed to bring peace to the victims. being forced to fight for their piece of the pie. individual homeowners worry they will be pushed to the back of the list. they are also unhappy that half the settlement will be paid in pg&e stock instead of cash. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. the trump administration reportedly has decided to pair exemptions for oil refineries from u.s. requirements to use biofuels. this comes in response to a federal court ruling last month.
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this has been an issue of some controversy. reportedly the trump administration will go along with that and cut back on the exemptions for biofuels. the coronavirus has continued to spread with the last confirmed case in latin america. trump will speak today about u.s. efforts to control the epidemic. we welcome dr. daniel perlman, professor of microbiology and immunology. thank you for being with us. how can one contract this virus as far as we know? >> most people who contract it via respiratory route. they will get it on their hands and convey it to their face, mouth or nose. it may also be spread through the air that this is much less
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likely. at a distance greater than three feet. and we an aerosol virus think it may have a component but we haven't really proven that. there is also some concern that it is spread by other roots such as through feces. again, this is all considered to be minor compared to the major respiratory and contact route of spread. david: there's been a lot of concern about this. i think it grew substantially when showed up in northern italy. now we have a case in brazil. is it surprising that it is popping up in various places? >> it doesn't surprise me. the virus spreads from person to person. somebody may not even know that they were near somebody who came from wuhan. given this kind of virus it's not a big surprise that it is
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spreading. david: the cdc said we should be prepared for the possibility that we will have immunities exposed to this in the united states. what is the basis for them saying that? is that your conclusion as well? >> i think it's very hard to keep respiratory viruses out. people are trying to do the best and can quarantine people identifying people at high risk for having the virus. if you have a virus that's going to be contagious when people start developing symptoms it's very hard to know how to detect them and who you are going to screen. it's just difficult and i think people are trying to do the best they can. david: what are the u.s. efforts? who is in charge? is it cdc? >> i think the department human health and services cares a lot about this as well. the cdc is at the frontline of this. david: what sorts of things should they be doing? are they taking the steps need
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to be taken? >> they are trying to make sure people come into the country free of the virus. that's about the best you can do right now and then after that if we start seeing cases you will have to figure out management of quarantining and identifying people who are potentially contagious. making sure that large mass gatherings, that could include a school, doesn't become a place where the virus can spread. putting everybody together in the cruise ships off of japan was a perfect set up for spreading the virus among people. david: we also think of things like factories and businesses. businesses are telling people to go work at home. a canary wharf over in london that happened yesterday. is that something we are prepared to do here in the united states? say you arene can't
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ever prepared to do it until it happens. people probably could and should be thinking about those scenarios. this is the way the virus will spread when you have large numbers of people in close proximity. infecting set up for more people. it's a practical sense rather than anything that's medical. david: i believe you have been studying coronavirus for almost 40 years now. is there anything out of the ordinary about this one? does it fit in with what you've seen before? had cold 2003 we coronavirus is and they spread similarly to this one in the sense that people had a cold and it spreads easily but no one really cared because it wasn't a spur -- upper respiratory tract mostly. sars that when we had the
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coronavirus and mers coronavirus, that seemed to be viruses confined to the lower lungs. they didn't care too much about the upper airways. a lot of people got really sick and 10% died in the case of sars. you weren't really contagious until you were sick. is a mix of the two. lowerrs virus uses the airways. you have a situation where most people get an upper airway kind of infection and then they will be better. for other people closer to the base of their lungs, they have the sars clinical disease we saw years ago. so it's a mix of both. you, dr. stanley perlman of the university of iowa. we will bring you president trump's news conference on the
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coronavirus. back to larryrn sabatino. he comes to us today from charlottesville. where do we stand as far as we can tell? we just had this endorsement from jim clyburn. where do we stand going into saturday? is bigurn's endorsement for biden. they have been privately promising this for a long time and now it has happened at the right moment just before saturday's south carolina primary which is do or die for joe biden. he either wins that convincingly or his campaign is over. he can certainly stay in through as many primaries as he wants. but he's never going to be able to accumulate the delegates he needs. however this is his one narrow path to come back. if he does really well in south carolina and i think that means
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or five points if not more against bernie sanders. then he goes into super tuesday. that's 14 states on tuesday including a lot of southern states where you have large african-american populations which is supposed to be biden's strength. so he could be on the comeback trail if he does well saturday and clyburn is key to his doing well on saturday. david: at this point is there anyone who can really get more delegates than bernie sanders going into the convention in milwaukee? more delegates than he will get. to be tough. i wouldn't say it's impossible because we really just started the delegate allocations and we have only had three small states vote. i'm not going to say it's impossible. i am going to say it's very difficult because everything i see indicates that while bernie
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sanders may only get 30 or 35% of a primary vote as opposed to a caucus where he does better and therefore maybe 35% of the delegates, there may be 60% of the delegates for other people but it's all divided up. so odds are he will end up getting a plurality of delegates. he's not going to have a majority. and notice what he's been saying. if i have the plurality, i must be nominated. and everyone else says, it's not going to be that way. we've always required a majority. and they are right. it has always been a majority. faced with ad be hobson's choice. either you give the nomination to bernie sanders and accept whatever is coming in november or you take it away from him, consolidate the 65% that's not with him and face a walk out by the sanders delegates and voters come november.
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david: factor money into it. super tuesday requires a lot of money for those television and radio guys as well as social media to succeed. who has the edge there? >> obviously bloomberg has a great deal of money. stier could do reasonably well in south carolina. he's put a lot of time and effort into it and a number of polls have had him in the mid and upper teens. he could be a factor there. i have a hard time seeing how he translates it to other states quickly. bloomberg has been everywhere all the time. his performance in the first debate and last nights debate in my view was mediocre to bad. were bloomberg ads leading up to the debate two hours, during the debate he had ads. after the debate he had ads. you add all that up and realize how much does his debate performance really matter. maybe not all that much.
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biden has almost no money. that's the problem. he has very little money. david: michael bloomberg is the founder and majority owner of our parent company. how much does the debate performance matter? i watch that debate last night. there was an awful lot of heat and light. are people looking at that and deciding who they want to be the next president of the united states? >> they have in. the debates to this point have driven some of the ups and downs in the polls. some of the candidates have really benefited from good debate performances. i didn't see anybody who had a good debate performance last night. how could you see anybody? they were interrupting one another. it was messy, nasty, unruly, out-of-control. i thought it was a disaster of a debate for the democratic party and for the candidates, not just the network.
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going tow much is it give them a candidate that will prevail over donald trump in november? >> the way things are going, we can expand that list quite a bit. all the basic factors are moving in trump's direction. i also have to say no donald trump and donald trump can disrupt those factors with some tweets or a rally or doing and saying all kinds of outrageous things at any moment. itthis is less certain than would be for a president who had a great economy and was let say normal. don't have that situation. so i'm not going to shut anything down until we have to pull the curtain down. politics a student of what do you make of the fact that we had donald trump who ran against the republican have ashment and now we bernie sanders as the frontrunner who certainly isn't
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embraced by the democratic establishment. pushingyou make of the aside of the traditional structure of the parties? >> our institutions, not just our parties. institutions have been in decline for a long time. and it's because many of us who study the process of democracy and how it works and how it doesn't work. it's caused us to be very concerned. i think there's plenty of justification for worry. we are not just being worry warts. we are going to have to see a reverse in this and i don't know how it's going to happen without leadership and we don't have that leadership right now potentially in either party. with usreat to have you as always, larry sabatino. up, jim hodges on what democrats need to do in his state to challenge president trump in november.
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this is balance of power on bloomberg television and radio. ♪
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david: this is balance of power on bloomberg television and radio. i'm david westin. south carolina is the center of the universe for democrats running for president at least for the next three days. inh the debate last night charleston, influential congressman clyburn endorsing joe biden today. welcome the only democrat to win the south carolina governorship in nearly 40 years, jim hodges. he is now a senior advisor at mcguire woods consulting. on thes us today program. carolinian, how much
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of that was addressed to people from south carolina and how much to people of the country overall? >> a little of both. i think a lot of it was dictated by the questions that were being asked. the history has been that south carolina is the place where the winner of the democratic primary here wins the race. so a candidate who does well in south carolina is more than likely to actually win the nomination. i think the discussions you heard that were appealing particularly to the african-american constituency 60 tohich will be roughly 65% of the primary vote, that is also a message to african-american voters in the super tuesday states and beyond. i think one of the reasons we are so important is the turnout here and the results here are pretty good proxy for what is likely to happen down the road in other states.
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david: congressman jim clyburn endorsed vice president biden. not a big surprise, but it happen today. it's generally thought that vice president biden is in a good position with the african-american voters. how do you think he stacks up right now in south carolina? >> i think he does very well. south carolina is a pretty moderate state. bernie sanders did very poorly here four years ago. i don't see any evidence that he has expanded his base here. i don't see much evidence that base has been expanded even in the earlier primary states. we don't have a lot of new voters showing up. to winsically been able with it the same percentage she had before. i think it's going to be a really good day for joe biden and moderate candidates in general saturday. david: senator sanders has come on. what would account for whatever popularity he does have in south carolina? >> the pole today has him down
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15 points which is certainly a butt kick in anybody's world. i think what you are likely seeing with senator sanders is consolidating what base there is available to vote for him and i don't think that is substantial here. the voters he appeals to aren't here in large numbers and i will say that in the last week i hear more and more from voters that they are concerned about picking the right candidate to be donald trump and that drumbeat has grown louder and discussions about things like the cost of medicare for all, the disruption of private health insurance and a range of other issues relating to bernie sanders i think hurt him here and will hurt him in other places as well. david: one of the things we isrd from pete to buttigieg people need to be thinking about down ticket. if bernie sanders is leaving the ticket, pete buttigieg thinks it could really hurt people down
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ticket. is that a factor? >> absolutely. particularly in a state where there aren't a lot of them chronic elected officials. we have a congressman in charleston named joe cunningham who is one of those candidates that won unexpectedly in the last election. for joe cunningham to be successful this time having someone who is an asset other than anchor at the top of the those sort of conversations have been occurring on a much greater frequency since the sanders success in nevada. it's important to remind everyone we've only had about 3% of the delegates chosen. the cats are notorious for being hand ringers over what might have happened in the primary states. i don't view them as particularly reflective of overall demographics of the democratic party and have always said people need to wait until south carolina votes to get a better sense of where the race might be.
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david: do you have any sense of the level of enthusiasm overall? we had a bit of a disappointment in the caucuses in iowa. it was better in new hampshire. do you have any sense of voter turnout in south carolina? >> it's hard to predict. i think there is interest and enthusiasm. i think people have generally been satisfied with the group of candidates that are out there. there is no kill i'm erring for new candidates to enter the race. they have been pretty pleased with the group. given the numbers of people here it's hard for people to whittle down their choices to who they want to vote for. there's incredible enthusiasm for november and interesting casting a vote against trump and putting someone new in the white house. there's a lot of enthusiasm regarding that and that's not going to change. david: former democratic governor from south carolina jim hodges. we will have more with the governor in our second hour on
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bloomberg radio. coming up, amid all of the heated back-and-forth in last night's debate, there were some lighter moments as well. we are going to take a look at some of those coming up next on balance of power on bloomberg television and on radio. ♪
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david: this is balance of power on bloomberg television and radio. i'm david westin. there was no shortage of democratic tension on the debate stage last night. at the end of the evening there was a lighter note when the candidates were asked to describe the biggest misperception people had about them. >> misconception and you are hearing it here tonight is that the ideas i'm talking about are radical. they are not. >> that i don't eat very much. in fact i eat all the time. gethat i'm not passionate i
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that i'm kind of level. some say unflappable. i don't think you want a president who is flexible. >> that i'm six feet tall. >> that i'm defined by business success and money. >> that i'm boring. >> i have more hair than i think i do. our second tuned for hour of balance of power on bloomberg radio. we will continue our conversation with jim hodges plus the latest development surrounding the coronavirus. this is balance of power on bloomberg television and radio. ♪
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