Broadcasting live to New York, Bloomberg eleventh bo to Washington, d C. Bloomberg to Boston, Bloomberg twelve hundred to San Francisco, Bloomberg nine to the Countries series Exam General one nineteen and around the globe the Bloomberg Radio plus David Bloomberg dot Com. This is taking Stock. Coming up on taking stock George Schultz. He is one of only two individuals who have held four different federal cabinet posts. He's taught
at three of the country's great universities. He served as the U S Secretary of Labor, Director of the Office of Management and Budget, US Treasury Secretary, and Secretary of State. And he's got a new book, Blueprint for America. We're gonna have him on for a special interview right now. Let's get some special news from Charlie Pellet in the Bloomberg newsroom, and I thank you Vin Fox. We've got the DAL, the SMP, NEZ Dank all advancing right now.
Technology shares are rallying amid deal activity, a topic we were just talking about right here on taking stock, corporate earnings spurring optimism that results this season will be sturdy enough to help sustain equities at record levels. A Bloomberg exclusive. You heard it on Bloomberg Radio and Television. We sent down with Christine Lagarde, Managing Director of the International Monetary Fund.
She did talk about a number of topics, including Brexit and what it means for Europe and if anything, in Europe, the decision made by the British people to exit the European Union has accelerated enough of you the need to um consolidate the European Union to give a strong message to the European people about the benefit that Europe can actually deliver for them, Concentrating on the positive, focusing on
key shoes for the people of Europe. Hasbro is suffering its worst stock decline in nine months after reporting a slowdown in growth of boy oriented toys, hurt in part by the lack of a new Transformers film. Right now has Bros Down seven point two percent. Netflix gaining for a fifth day it does report after the closing bell today. Netflix up now by one point one percent. Equities higher, SMP five hundred Index up five to sixty six, a
gain of two tenths of one percent. NAS Stack up twenty nine, a gain of six tenths of one percent down, Industrial is up sixteen a gain of one tenth of one percent, Tenure down eight thirty seconds that yield one point five seven percent. Gold of a dollar ninety beyounced the thirty nine a game there are of point one percent, and crude oil down cents thirty four barrel a drop there of one point three percent. Add two thirty two on Wall Street. Now let's take a look at other
news from around the world. Thank you, Charlie from the Bloomberg News room. I'm Jill Schneider. As the Republican Convention opens in Cleveland, the Donald Trump campaign says hosts State Governor John Kasik of Ohio is being petulant by avoiding the event. As Bloomberg's Bob Moon tells us, who is aren't there may be as important as who is. Perhaps one of the most familiar faces tonight will be actor Scott theo GOP is now Trump's party, says campaign manager
Paul Manaford, and this is his convention. Here changed the face of the republic, says he can live without the support of the Bush family and with the absence of the last Republican president. I proudly accept your nomination. You also won't see the party's last two standard bearrasmt Romney or John Mcking. Trump's wife, Malania, will be speaking tonight along with Texas Governor Rick Perry and former New York Mayor Rudy Giuliani on the theme of quote making America
safe again. The mother of a Bengazi attack victim, and marine and Navy seal veterans will speak on that hot button issue Bob Moon Bloomberg Radio. Hillary Clinton is calling for people to stop targeting police officers. The presumptive Democratic nominee made the plea while speaking at the n Double Act National Convention in Cincinnati today. Three police officers murdered in an apparent premeditated ambush and baton rouge. This madness
has to stop. Clinton also took a swipe at Donald Trump for turning down an invitation from the Double A c P to speak at the convention. Baltimore's mayor says an officer who was acquitted today in the death of Freddie Gray will now face an administrative review by the police department. Mayor Stephanie Rawlings Blake tweeted the statement after Lieutenant Brian Rice was acquitted of manslaughter and other charges in Gray's death. He was critically injured in the back
of a police fan and died a week later. Global News twenty four hours a day, powered by more than journalists and analysts in more than one hundred twenty countries. I'm Jill Schneider, and this is Bloomberg, Charlie, and we thank you and again recapping stocks or higher SMP five hundred index up five now to sixty six, a gain of two tenths of one percent. I'm Charlie Pellett and that's a Bloomberg Business flash. Listening to taking Stock with
pim Box at Kathleen Hayes on Bloomberg Radio. George Schultz is that Thomas W. And Susan B. Ford Distinguished Fellow at the Hoover Institution, but he may be more widely known as one of only two Into vigils who has held four different federal cabinet posts, including Secretary of the Treasury, Secretary of State, as well as Secretary of Labor and the Director of the Office of Management and Budget. He
has a new book. It is entitled Blueprint for America, and he joins us now from the Hoover Institution in Stanford. California Secretary Schultz, thank you very much for being with us. Sir, good morning. Tell us a little bit about this new book, Blueprint for America, and particular, wonder if you could describe what you feel about campaigning and the political process related to a political campaign. Well, let's book arose out of
some discussions among people here at Hoover and Stanford. And as we discussed, we said, you know, the country has got a lot of problems. We ought to write about them and a nonpartisan kind of an effort to say what are the problems, what should we do? And the essays are by different people. We have booked at each other's essays, but they're all signed individual. That is the
principle of accountability is there in the book. So we've covered a lot of issues economic issues mainly, but some spending problems and governance problems so on in international problems. Now you've described campaigning as ultimately an act of division. What do you mean by that? Well, when you campaign, you're saying I'm better than you are, so vote for me. It's an act of empasizing a difference and saying my
side is right. So it's an act of division. But as soon as you get into the office, you have to govern, and governing is almost exactly the opposite. Governing is working with people and trying to find where you could get some common ground and get something accomplished. It's a different, different kind of activity, and in my opinion, we've over the last decade we've had too much campaign
and not enough governing. You write also about foreign and security policy and what you describe as the capacity to execute. What do you mean? And I'm wondering if you can offer an example. Well, at the start of World War Two, I'm in Marine Corps boot camp and the sergeant hands me my rifle. He says, take good care of this rifle. This is your best friend. And remember one thing. Never point this rifle to anybody unless you're willing to pull
a trigger. No empty threats. So that's boot camp wisdom. And of course, if you've got a rifle, you can pull a trigger and you can execute. But let me give you a different kind of example. Early in Ronald Reagan's presidency, the air traffic controllers struck and people came running into the office of Mr President's Presidents. Very complicated, he said, It's not complicated, it's simple. They took an oath of office, they violated it there out and all
over the world. People said, the guys a man crazy, these other guys keeping it from points flying. But he had experienced as governor of California, and he had as his secretary of Transportation a man who had been the chief executive of a large transportation company. So working together, they had military people, had management people running the towers, and then they had a very aggressive training program, and
they kept the paint flying. And all over the world people said, hey, watch out, the guy plays for keeps. So he established the fact that he meant he would speak, and he meant it, and he could carry through and execute.
You speak about self confidence and the strength of purpose in the United States, tell us more h Well, if you're going to accomplish something in the world, or domestically for that matter, you have to be able to say, I'd understand the problem, I'm realistic, and I have the capacity to deal with it, and I have a kind of spirit in the country that says we can solve
our problems and let's go get it done. Well again, I think during the Reagan period we were strong, we were realistic, but somehow Ronald Reagan lifted our spirits up so we felt good about the things we were doing, and they basically worked in describing current conditions around the world. You talk about religion and its role in foreign policy. Could you give us more about that. Well, for three centuries,
religion and war have been kept apart. But all of a sudden, now with the ISIS business in Al Qaeda, we find war and religion are joined. That means it's a different kind of war, and they have to do you're gonna wage it and be successfully. Have to say to yourself, what is this new kind of war? It has a place, but it's got more than one place,
evolving places, and it has tentacles that expressed themselves. So I have to say that's that's the nature of the least that we're fighting against, and now we have to adapt our tactics to that. Thank you very much. Former Secretary of State George Schultz joining us from the Hoover Institution, speaking about his new book entitled Blueprint for America. This
is Bloomberg coming up on taking stock. Turkey widens its purge as a crackdown on the military continues following a failed military coup we've got more details ahead.