Sound On: Manchin Permitting Bill Fate, Global Markets Rout

monitor the global markets. It's as if we were over the Indie five hundred when we stopped maneuvering, and then we simply have to coast all the way to Baltimore.

Bloomberg Sound On with Joe Matthew on Bloomberg Radio. The government set to run out of funding on Friday, and there's still no plan to vote on Today, Welcome to the fastest hour in politics, as we begin the final week of September with big questions about the congressional agenda and of course, the outcome of the midterm elections, now only seven weeks off. We're joined today by Congressman Chuck fly Been, Republican from Tennessee, who's on the front lines

of the budget debate as a member of the Appropriations Committee. Later, world markets spooked by massive tax cuts plan in the UK and now the election of a new prime minister in Italy will get the view and hopefully some sense from you and Relli of b D A partners analysis on these stories and more coming up with our signature panel. They're both with us today Bloomberg Politics contributors Rick Davis and Gen Chanzano. No one is predicting a government shutdown

on Friday. I want to say that up front, but lawmakers have still not come to agreement on a bill to keep the government running. The Senate is set to hold a vote tomorrow procedural vote on legislation that we've talked about, including Joe Mansion's energy permitting bill. If you listen to this program, you already know that that may not fly unless Mansion can convince enough Republicans to say yes. He showed up on Fox News Sunday yesterday to make

the case. And this is not about me, my Republican friends. I've been working for twelve years with them, and I know their number one item that they've had, a number one priority they've had is permitting reform. We can't build anything in America. It takes five to ten years. They develop a world takes one to three years. And why should we be so far behind the developer world to bringing products to market, to be able to have the

infrastructure to move energy around. And we're asking people around the world to do things for us we won't do for ourselves. My Republican friends know exactly where we are, all right. So there's the elevator pitch, and that's where we start with Congressman Chuck Fleishman, Republican from Tennessee who serves on the House Appropriations Committee. Congressman, I thank you for coming back to talk to us. Would you support a government funding bill if it included Joe Mansion's permitting reform?

What do you make of his argument? I don't think it's going to see the light of day. Let me say this, I am generally not a fan of continuing resolutions, but the worst thing that we could have right now I think would be a government shutdown. But I think that the reality is is Joe man Anson was duped by his own party, specifically by Chuck Schumer for the ill fated or for the ill named Inflation Reduction Act. This was supposed to be his big chip that he

was going to get. The reality is two Democrats, senator Senators and I believe Senator Kane have already said no to Joe Mansion, and he's going to have to get at least ten or more Republican vote. I just don't think he's going to get it in the Senate, so I don't think it ever gets to the House. In that posture on principle, Uh, Mansion is right about the permitting problems. The problem is he's been misplayed because of this, this prior ill lead on the Inflation Reduction Act, and

now his his bill is probably gonna suffer for it. Well, he calls this Joe Mansion calls this lack of support, particularly from Republicans and some progressive Democrats too. He calls it revenge politics. If you agree with the need to reform permitting, is he not wrong? Well, Uh, you have to look at this as a progression or in my case, I call what the Democrats have done from the Inflation

Reduction back all the way forward. This year, we have seen pieces of legislation that they have wanted to cram down for quite some time. They couldn't do it in one bite, so they did it in little bites, and they duped humor literally duped him into believing this, as did other Democrats. So I'm not going to call it

revenge politics. I'm gonna call it common sense politics. But the reality is we're gonna probably have to have a cleaner uh c R if we're going to avoid a government shutdown, and nobody wants a government so would Republicans if if you want the majority, would Republicans come back and do this on their own? As permitting reform something that you want to see happen in the New York term. Okay, you just don't want your mansion's name on it yet, Well, no,

I think it needs to look different. But clearly, clearly we have got the streamline the permitting process in this country. It's too laborious, is too lengthy. We can't get anything done. Um, it's it's it's it's a problem. But Joe Mansion's problem are not Republicans. Joe Mansion's problems are now Democrats. And the reality is he guessed wrong in the last chess move, and that was in the checkmate position on the wrong side of it. Man, That's that's some tough stuff. You

work in a heck of a business. Congressman, you don't think the government's going to shut down though, right? A clean CR passes on Friday, as your thought, I hope and pray that we get to that point. Yes, let me explain where I think we're going to be. The Senate will take it up first, and what they will take up is basically a house shell bill, so they'll there'll be a house of vehicle that doesn't do anything,

goes to the Senate, they will vote on it. I think at that point in time, Mansion's efforts will fail. That's a prediction, and we'll get a cleaner CR back, and we should. We should do that, hopefully by Friday. Now, God for it, it bombs down. It has happened before in my twelve year congressional tenure, where we slip into a government shutdown mode. I don't see that. I don't think either party has an appetite for that. I know the markets don't, the American people don't. Well, I'll tell

you start walking up to the edge. To your point, things can happen. But the idea here then is we kick the candle mid December. Right, the CR would go through the middle of December, won't that just set up another standoff right before the new year in the next session. Well, absolutely correct, I think you've called that right. The The CR will go to either December theo or sixteenth, but

we will have had a major event by then. We will had mid term election affecting the House and the Senate, and I think the fate of the CR or the budget for fiscal twenty three will rest on the results of the mid terms. If Republicans have and I hope as we do, a huge win in the House, probably a more narrow win in the Senate. When we take over both chambers, I think we will see a very different view. And of course you've got another dynamic Senator

Leahy and Senator Shelby are both retiring. They will not be in the next Congress. So there are a lot of factors affecting this. But really the results of the mid term will probably dictate what happens in December. We're talking with Congressman Chuck Fleishman, Republican from Tennessee here on Bloomberg Sound On. I want to ask you about border security, knowing that Republicans are in fact writing a menu here

for what what you might want to pursue. And I think that's pretty high on the list if if you were to take the house. Kirsten Cinema and the next door in the Senate, who appeared today with Mitch McConnell at his full endorsement apparently at the University of Kentucky, gave her a wonderful introduction. She was asked, you know what's next for you? What is it you want to do? She picked one issue. It was immigration, says she wants to tackle it after the mid terms. Here's what she said.

There is a challenge that I and that I still want to accomplish, and um, it's close to home for me. You know, I was born and raised near the border in southern Arizona, and for my entire lifetime, the federal

government has absolutely failed, absolutely failed. Congressman, do you believe she says she's gonna call John Cornyn after the mid terms to get the ball rolling as immigration reform even possible in this divided country after watching it come up and be knocked down over and over again over the last two decades. I think border control is and has to be in all politics is local and first. In cinema is a very student politician. She is going to

be up for election. She is in the state Arizona that is directly affected as this Texas by the border. As the ranking member, the highest Republican myself on the Homeland Security Subcommittee, I have worked to fund the wall, border security, border technology, and this administration rebuffs it at every level. Every time we come up with a new technology or something that could keep the borders closed. They basically work against us, as do progressives in the House

and Senate. And what have you got? Open borders? Over two billion illegals this year. We don't even know who all has gotten over. They're speaking of over a hundred and thirty different languages. This is not just the Triangle countries. This is a matter of national security. So it's a border security first, possibly an immigration bill after that. It will be much more difficult. But remember, let's give kudos to former President Trump. He wanted to talk about uh

immigration reform. He actually had a plan for DOCCA and who killed it? The Democrats? Why because dealing with the current state of affairs. Though, you're saying that a comprehensive bill is not realistic. If I'm trying to just read between the lines, you'd have to get security first and then you would deal with immigration later. They're not coming in the same swing. That's correct. I think first and foremost,

you've got to stop the bleeding at the border. It's open, it's poorous, it's dangerous, it's crime, it's drugs, it's it's dehumanizing to to to UH, to the people coming over. It is a catastrophe. And the sad part about it everything that was in place that was working the buffer UH practice in Mexico. UH. Basically Biden is doing away with this. They they they have taken every step, we come up with, technologies, we come up with solutions, and their depth to us and it gives us the conclusion.

And the American people know this. They do not want border security in the Democratic Party. We want it in the Republican Party. I think the American people want it. It's going to be a big issue in the midterms in states like Arizona, in states like Texas, and I really think in the states like mine, like Tennessee, is it right to be flying migrants around places like Martha's Vineyard to make a point In the meantime, do you

support that strategy? I I think both Uh, Governor de Santis and and and Governor Abbott have taken appropriate means to let those radical progressive states that have claimed that they want open borders to now to suffer under some of the real consequences that other border states have done. So the reality is they got a dose of reality in those states. And what did they say. They didn't like it. They couldn't afford it. Sure, so you do support that? Wake Okay, I read you. Here's our last one.

I've got less than a minute. Congressman, I'm just gonna throw this at you. We'll make it our pretend lightning round. Representative Nancy Mace, Republican, on Meet the Press yesterday talking about Republican potential to impeach Joe Biden. There's a lot of pressure on Republicans to have that vote, to put that that legislation forward, and to have that vote. I think that is uh something that some folks are considering.

Why are you hearing about that as well? Congressman, will be an effort to impeach the president if you take the majority. Here's the problem because of what the Democrats under Nancy Pelosi have done Donald Trump twice. So it's coming around is what you're saying. I'm gonna say now because of that horrible accident, horrible incident, the reality is a Congressman, Chuck Fleishman, this is Bloomberg. You're listening to Bloomberg.

You sound on with Joe Matthew on Bloomberg Radio. Just a taste of what's to come, not only this week, but potentially after a Republican takeover of the U. S. House. That's what everyone's predicting, right, Congressman Chuck Fleishman with us on the fastest Hour in politics, making it clear the Republican from Tennessee's on the Appropriations Committee says the government not likely gonna shut down on Friday. Nobody thinks that's

gonna happen. We'll probably jettison the Joe mansion permitting bill along the way. But fascinating remark there towards the end, as I asked him about Nancy Mace in her comments yesterday I meet the press as we prepared to assemble the panel. Remind you of what she said until Chuck Todd about the effort to impeach. I believe there's a lot of pressure on Republicans to have that vote, to put that that legislation forward and to have that vote.

I think that is uh, something that some folks are considering. Again, I'm someone who wants to Yeah, I want to follow the constitution. It's really important. Oversight is important. As we bring in Bloomberg Politics contributors Jeanne Chanzano and Rick Davis our signature panel here on sound On. It's great to have both of you back. I hope it was a great weekend. I'm sure you saw this conversation, Rick Davis.

Is that the first move that Republicans make if they take the House, Well, I think there'll be a spade of investigations. You know, must like Democrats open up all a lot of investigations when they took over. It's become sort of the norm. Right, instead of legislating, we're investigating. And uh, and so there is a fart hat you heard, uh Congressman Flashman say, well, you know they impeached Trump twice. We got to do at least once. I'm mean he didn't say that, but I mean that was the impression

I was left with. And uh, And to be honestly, it's an incredible weights at taxpayer dollars. Uh, you know, but look This is the politics that were left with these days, and I have no doubt that one of the largest agenda items of new Republican Congress will have is to launch investigations into various aspects of the Biden administration.

The tip for tat there also with regard to Joe Mansion's bill here, Jeannie, and I'll be curious to hear you a way in on the impeachment thing too, But the Congressman made it clear Republicans come back and and put up an energy permitting bill that does not have Joe Mansion's name on it, They're going to pass it. They will. And this has been the frustration. And we've seen as you played the clip Joe Mansion out on the Sunday shows. He you know, the op ed in

the Wall Street Journal. He is trying desperately to get the number of Republicans he needs to pass this thing. It's going to be very hard to do that. And his frustration has been just what you said, that that they want permitting reform, but he feels that they are just frustrated that he worked with Democrats on the I r Ay and they're taking it out on him. You know, I would suggest There is another element of this, and

that is the actual substance of the bill itself. There are Republicans who feel that the bill does not go far enough. Joe Mansion essentially says, you've got to take the best we can do, and I think he's making a fair point for those who want this kind of reform. But for some Republicans, they feel that the bill is a skinny version of what they would like to see, and so they're reluctant to pass this because, very much like Democrats with the gun bill, you pass this, people

say we did it, they don't revisit it again. And so there are several areas like litigation capping, for instance, that they're frustrated doesn't go far enough. Do either of you think the government is going to shut down this week, even for you know, the weekend while they get their act together? Rick, what's your phone? Yeah? No, I don't

think so. I've never heard a period of time in Congress where we had a government shutdown looming five days away and everybody was basically saying the same thing, which is we're going to fix this and pass the cr before that. So the fact that there's nobody driving the negat of nobody's actually saying I'm gonna hold this thing up. Then it indicates to me that it's going to get done. Well. We had a group of of Democrats gosh, they were over eighty of them. I think at last count Jennie,

who were threatening to do so. Is that that's not in the cards, is it? No? I don't think so. I mean, their their focus was on Joe Manchin's bill, you know bill that's that's you know, at this point, likely not to be included, likely not to pass. They would much rather get home to their districts. For these House members, they all have to be campaigning and that is the real focus now. So I think they're going to get out as soon as possible. They could end

up staying, you know, through the weekend. Um, we've already heard rumblings of that, but you know, I don't think we're going to see it a shutdown. I want to ask you about this. Uh. Comments today from Kirsten Cinema Rick And by the way, she mentioned she was introduced by Mitch McConnell called her the most effective first term senator in his career. This is not a Republican he's talking about he was introducing a Democrat at the University

of Kentucky. I believe it was the McConnell Center, that's a matter of fact. But kirst instead of says she's gonna call John corn and after the mid terms Rick and get the ball rolling on this. Uh. A few people know as much as you do about the difficulty here in the complexities of of crafting and passing comprehensive immigration reform. McCain Kennedy was a long time ago. Uh. Is she about to learn a tough lesson? You know?

I hope not. Uh. Certainly, the politics hasn't got any better for a bipartisan comprehensive immigration reform package to get through and to become law. I would say I had always thought that it would be a Republican president that got it, only because that's usually the stumbling block, is Republican leadership and getting a comprehensive bill passed. And and when uh George W. Bush tried it and failed, I thought, um, you know, maybe that might have been the best shot

we had. Christen Cinema has been underestimated all along her career, and she did pass some landmark legislation this last year in a bipartisan fashion and Republicans love to do business us with her. She does what she says she's gonna do and has the interest of the country ahead of her own self interests in Arizona. So she'll pull a

primary because of it. But she I wouldn't count around full of primary because Genie, wouldn't that be a great story to tell, you know, as a Democrat or is working with a Republican on that And no, go, Well, we've already seen one of her potential or possible primary challengers who seems to be commenting on Twitter and elsewhere about this, you know, relationship between her and Mitch McConnell in that high praise that you talked about. So it

is going noticed. It's going to be an issue for her in the primary, and it is something that she's going to have to contend with. Jennie Chantano and Rick Davis make up our signature panel. They're back coming up. We're gonna turn to the turmoil in the markets today and all Rhodes lead to politics. This is Bloomberg. It's Bloomberg sound on the fastest hour in politics time Joe Matthew in Washington. As we turned to the matter at hand.

You heard Doug get to some of the US her treasury yields surging and the superlatives are really starting to scare people. Sent the ten year up by the most since the March COVID crash. I thought I was seeing things. The tenure climbs more than twenty basis points to levels and that's happening here while things get complicated overseas. The Bank of England now UK Treasury failing in a joint

bid to calm financial markets. As both indicated, investors will need to wait until November for a real policy response to what we're saying on the terminal is the fallout from the new government's massive tax cuts. This is a big deal. Liz Trust remember about an hour after she became Prime Minister proposing massive tax cuts, talked about it, asked about it today considering the mark reaction by Sky News.

Britain has to be competitive and if we put up taxes, if we have allbitry taxes on energy companies, if we have high corporation tax we're not going to get that investment in grace. At the election of the apparent election of Georgia Maloney, the far right candidate in Italy that's got the Italian bond market in a tizzy. So this of course came up today at the White House Press Secretary Karine Jehan Pierre. We're going to continue to monitor

the global markets. What we are are laying out is what the meeting that the President had with his economic team, how seriously we're taking this, how closely that we are, you know, having conversations with our teams. So they're meeting, they're having conversations, but there's not a lot you can do when it's coming out of another country. And that's why we wanted to spend some time with you and Relly, co founder and managing partner of b d A partners

back with us on Bloomberg Radio. You and how worried are you that this just keeps getting worse, these policies having even taking effect yet. Well, Joe, it's not it's not good news. And I told one of your colleagues a week a week or two ago that the UK is uninvestable. Um, it didn't become any more investable. It's very very difficult to know how the how the new

administration is going to reassirt credibility. What do you make of the election in Italy and did that in fact spook you even more as it seemed to the market at large. The list of political worry points is quite long. Now. Um, we're worried about China, we're worried about Ukraine, we're worried about Russia, we're worried about the UK and now we're worried about Italy too. So it's an alarming list. The

fear factor is high in this market. And of course some would say that's, you know, the sign of the bottom, the capitulation, but I'm guessing you don't see it that way. If you think the UK is uninvestable, I'm afraid to say I think, Um, the new administration came in, let's trust some quasi court then came in very aggressively, as you said earlier, making quite reckless policy pronouncements on the first day of the administration. And uh, and I think it's going to take a while for them to figure

out how to how to correct their their positions. So so you and the story today really is elections have

consequences and this market has just comming to grips with them. Well, remember remember that Liz Trust was elected by something like seventy five thousand members of the Conservative Party um, which again is uh is painful for a lot of other investors, a lot of other elector you know, population In the UK, we have a population of sixty million people and and seventy members of one political party chose this prime minister. Is the story that that's unfolding in the UK as

well as Italy? If that, if that turns into a more protracted downturn in Europe, does that mean a more acted downturn? And if I can use the word recession here in the US, I think I think it's not all bad news for the US. I think, you know, invest we investors like certainty, we like predictability. There isn't much of that around at the moment. But conversely, I

think we will see a flight to quality. I think the UK, the US, despite its issues today political issues and economic issues, feels like a pretty sensible place all of a sudden. Well, I don't mean to get too cute, but does the does the opportunity to make a little money in the bond market, to get some returns on your savings bring any silver lining to the financial picture

here in the US? Yes, I think so. And I think you know, we've seen tax cuts in in Europe, so there are some oput, there will be some opportunities in the UK. Sorry, wee tax cuts, so there will be some opportunities U there as well. Um, and I think you know, it's just it just seems like a very volatile, uh moment in history. So it's not, you know, the right moment necessarily for conventional stock market investors. But

but of course we'll see the contrarians. Some hedge funds are going to do well in the next couple of months. I suspect you're not about to tell me to start buying CDs or something, are you. I wouldn't go that far. I wouldn't go that far, but but but i'd hold your breath for a day or two. Yeah, you and Rally's got way too much edge for CDs. Co founder and managing partner at b d A Partners. Really great pleasure of you, and thank you for always bringing some

sense to this conversation. I'm Joe Matthew in Washington. Thanks for being with us as we start. Gosh, another fascinating week here with some great unknowns and coming up. It was sixty two years ago today imagine this change the world of politics. And as we're gonna hear right now, the debate listen has not changed very much. The candidates need no introduction. The Republican candidate Vice President Richard M.

Nick and the Democratic candidate Senator John F. Kennada. Mr Crushav is in New York and he maintains the Communist defensive throughout the world because of the productive power of the Soviet Union itself. The Chinese Communists have always had a large population, but they are important and dangerous now because they are mounting a major efest within their own country.

There is no question but the this nation cannot stand still because we are in a deadly competition, a competition not only with the men in the Kremlin, but the men in Peking. We're ahead in this competition, as Senator Kennedy I think is implied. But when you're in a race, the only way to stay ahead is to move ahead. The first televised debate Nix and Kennedy, what were they

talking about? Russia and China? Fast forward too, We've got the best panel in the business and a lot of news to talk about connected to both Rick Davis and Jeanie Chantino, come in next. We picked the right place here to get informed on the fastest hour in politics. This is Bloomberg. You're listening to Bloomberg. You sound on with Joe Matthew on Bloomberg Radio. Yeah, that's just seven weeks to the mid term elections. It's really sneaking up

on us here. And we haven't seen a lot of debates. Actually, we haven't seen really a lot of them even scheduled yet. Dr Roz and Jhon Fetterman, they are finally going to get one. It looks like one debate for a seat that could decide the balance of power here in Washington. After recalling the debate of sixty two years ago, today it doesn't exactly feel like progress. Let's reassemble the panel, Bloomberg Politics contributors Jeannie Chanzano and Rick Davis. What's your

thought on that, Genie. As we watch, debates kind of become something of the past, at least the traditional televised debate. Sometimes they'll get together and you know, do something in in a friend the h a more friendly way, uh, with hosts that agree with them and so forth. But we're seeing a tradition slowly erode slowly leave us, aren't we We are? First of all, I loved the music,

and every debate should have that music. It should, But we are And you know, you think back to that and how much that debate transformed the way that we elect presidents in this country, and it brought those you know, the elections essentially into our kitchens, into our living rooms, and you had, you know, millions of Americans at the same time watching what was happening. And so much of that has changed now. I mean, just one example is that you know, young people today, many young people don't

watch live TV. Everything is streamed. So the idea that you'd be watching it in concert with millions of other people, you know, it may not be that way. And of course, you know there's other changes as well, so you know, we aren't likely to see that come back. And maybe for people that Richard Nixon, that might be a welcome a welcome thing. What's your thoughts on this, Rick? Is it because so many people have already made up their minds,

they're voting party? What? What? What leads to this? Because a lot of candidates think they can only get in trouble in a debate. Yeah, it's exactly that it's the ladder. Uh, it's risk risk management, right. I mean you get to this point where primaries are later and later, so there's less and less time. You're really not even starting these general elections till after Labor Day and then you've got a sixty days sprint, and who wants to upset the

Apple card? Even when you're behind, You know, maybe you chase your your opponent who's in the lead, to get a debate, and maybe they'll give you one, like in the situation with with Oz and Fetterman. But the reality is it just it does still matter, right, I mean, debates matter, which is why they're so high risk. And even though you know, they're not always based on a you know, an iPhone so that most people would watch them, as Genie says, they're very few of us relics sitting

around watching the evening news these days on television. Um, the reality is that in a political campaign, they introduce an element of risk that most people have become immune to. They just don't want it. They want those TV ads that they can control. They want the ground game they can operate by stick. So, uh, this is still the wild West in campaigns, And I'm glad that they people

think they're elevant enough to worry about them. Well, you're a specialist in preparing politicians for debates, you like, this is your game, Rick, Do they actually help voters? If we've decided they don't actually help the candidates? There have been many, many instances over time, including that debate you just played, where presidential elections were determined by the conduct of the candidate during the debate, the famous moments of George H. W. Bush looking at his watch while Bill

Clinton pontificated along. Uh, you know that the situation in in sixty eight where it wasn't even so much what was said but how you looked. Uh. And TV was a new thing then, But the reality is that, yes, people still watch him. Forty million people will watch a presidential debate. That's not a small thing. And uh and and I do think though, they need to be upgraded, right, I mean, we're tired of the show stuff, you know,

in front of crowds at cheer and boo. That presidential bate you played was in a studio with those two people and a moderator, and that's it. I think people would get a lot more out of that kind of a format a panel of moderators. You know who wants to debate Jennie wants to debate Joe Biden. It's not

Donald Trump. I challenged the president to join with us, let's go across the country and less debate what his policies has done to America and our plan for a new direction, and less let America make the decision for the best way for this country to go forward. It's Kevin McCarthy, of course, the minority leader who unveiled his commitment to America as you discussed on Friday, that came with a challenge to debate the president. I'm assuming, Genie,

he's not going to take that challenge. Yeah, I would assume Joe Biden would not. And interesting that Kevin McCarthy is, you know, challenging Joe Biden to a debate and says not one word about the leader of his own party who himself says he is likely running for president, which is Donald Trump. So that is interesting, and you know, we should say there is a debate coming up on Friday between Greg Abbott and Beta o'burke, I understand, is the only one that they're going to have for this election.

But that I think is going to be a very interesting and maybe even a heated debate. I'm not sure. At down in Texas, you know, Donald Trump was out again over the weekend. He held another rally. I guess this is like every Saturday night now, I'm not sure North Carolina. This time he's stomping for Ted Bud and he did the whole music thing again. He played the queue song again. Did you guys see this and what what it was like that? You know? He ends this

with two three minutes. It was much longer this time, though, and there was much more ad libbing. The speech even got to the the cleanliness of our airports. We are a nation who has once revered airports or dirty and a crowded mess where you sit and wait for hours and then are notified that the plane won't leave, and they have no idea when it will, and they should

wear ticket prices are through the roof. They don't have the pilots fly the planes, they don't want or see qualified air traffic controllers, and they don't know what they're doing. I'm not sure that last part was true. Uh, he doesn't, do you think he's flying in through airport? Go and spend a lot of time in the you know gates a terminal sea there for for Jet Blue. Rick, I'm

assuming that probably not Jet Blue. But I do remember the days that there was Trump Airlines, and that's from Washington to New York on that thing with leather seats, and in the summertime, you don't want to sit in atter seat on an airplane in gold buckles, you know, I'll tell you a genie. I have to admit, though in the middle of this he's doing the the airport routine and all this stuff, he still finds time to condemn the news media in the way that only he can.

We are a nation that no longer has a free and fair press. Fake news is all you get, and they are the enemy of the people. Okay, so it's been a while since we've been called that, maybe since last Saturday. But Jennie, there are a lot of concerns in this country about political violence and this is not helping. No,

it's not. And you know, we had the Republican candidate for governor in Michigan, how you know, making light of the kidnapping, you know, efforts attempts um that resulted in arrests and two convictions you know, just in the last few days, um, and we've all heard about reports of violence increasing as it pertains to public officials and political leaders.

So this is not a joking matter. And you know, the most astonishing part of this is that you have somebody who you know is facing six ager legal challenges, and yet he is doing more rallies than ever at this point, probably raising more money than ever. At this point, he remains the face of one of the major parties in our country, and he is flirting with a conspiracy theory in the name of q and on which embraces

really dangerous mission misinformation and rhetoric. And you know that has driven so many Republicans, including Liz Cheney from potentially she says, if he's the nominee from the party, so it is a confounding time from that person. Spent some time on Liz Cheney actually and said that he thought that Rick that her her loss in the primary was an indication that January six was quote unquote going away.

Uh are these words empty? Now when you hear an enemy of the American people, should we be worried about that? Or is this just about Trump? Again? It's just a it's it's another Trump is um, you know. I I think it is a lot of sort of checked in

and checked out. All right, The Trump is ms are rampant in these things we now, you know, Rick got regularly immune to the fact that he goes on these benders about everything from airport cleanliness that you brought up to you know, the lack of flushing capability in American toilets today. I mean, don't we really care about that? As Genie said, you know, there's a guy who could be president again and is a threat to democracy in

our own country, not mentioned potentially around the world. So you can't really, uh make it too much of a joke about it. But it's kind of becoming a joke that I don't know what has happened with this q and on music that they play, but it's like it has this zanex effect on the way he talks. I mean, it's just amazing that he just goes into this lull you to sleep kind of thing monitone. So there's something

weird going on in Trump world. Yeah, to end, we look, if you were with us last week, I gave you the background of the extent that we understand it, and by that I mean, we don't why this became a Q one on theme, but you know, he let this thing established before he started talking. They gave everything into the great ist and most powerful nation in the history of the world. Now let it rest. They love this, they go wild because of its implication. But now we

are a nation in Jacly Kleine. Uh, this is gonna be I presume Genie the rest of the campaign, right, and if we're gonna hear this song for the next two years, we will. It seems to be working for the people in the audience. And you know, just look at the Washington Post poll out over the weekend, Republicans preferred Donald Trump be their nominee in twenty four. That is where one of our major parties sit right now. Now.

Granted forty six want them to think about somebody else, but that is you know, this is somebody who is not just a sort of fringe candidate. He remains the most important leader and he has transformed this party. And that's where what we're facing in two We'll pick this up tomorrow with Rick and Jennie. Many thanks to both of you for a great conversation. Jeannie Chantano, when Rick Davis make up our signature panel Bloomberg Politics contributors. Something

real cool about to happen. Not long from now pm. The Dark Mission hits the asteroid. We'll talk about it tomorrow. This is Bloomberg