tv Bloomberg Markets The Trump Economy Bloomberg June 5, 2017 1:00pm-2:01pm EDT
infrastructure week. latest, bloomberg's -- chief chief walk correspondent. corrects their release about a three page outline. thats interesting to note bill shuster was on hand. a type of transition bill that would use the cost of all this. similar to what we have seen in other industries. the -- the when for second part in this is where the not sayt it again not
set to testify thursday .ncluding fbi director the. in any event we are extreme vetting. the courts are slow. here's the president commenting this weekend. the release of this puzzle today that was carefully choreographed. the best way plans seem to have gone to your side. >> also, getting into spats with mayor.
, andrms of the travel ban -- also,ok at for jobs a rocky start to say the least because we are talking about things beyond infrastructure. there is a large appetite for infrastructure spending. ante,ats upping the saying they wanted to sign david: as the minute -- -- former fbi director james comey will testify on thursday. >> first and foremost, they are into comments that
market, just a small one on to and a 10 and two basis point on the 30. last month, you can in a little slow, but shows the economy is strong. the former considerable industry fast for the are saying the wrong proud indeed sure. is during one of those currently have reached out for comment. low.go is falling as
-- income is by his chief scientific officer at that meeting of oncologists. it has to do with one of his cancer drugs. there are some increases as well. finally, a quick check on amazon's --nd -- we have seen huge momentum behind these textures and they have been one of the driving forces of the rally we have seen. nato ts commander of
-- it left seven people dead and dozens injured. islamic state has claimed responsibility. the supreme court would now decide his fate. the president also called the courts slow and clinical. orange county sheriff describes whoshooter is a 45 your man had been a previously accused of a police officer the
supreme allied commander -- let's start with those attacks over the weekend. there was a line and i will try trade itore broadly strikes me as we talk about terrorist attacks. it is cyberuch technology, cybersecurity. it is selling artifacts, the use it is a lethal, improving. >> she says tech companies need
to do more to prevent cap from strike the balance between the government doing it -- they >> the first thing is interaction, getting governments together. publicthree, private, debt she should have the judgment to talk about. is a good example of how they find world can be hitting above its weight in this field. >> asked about them as asian. there are some endowments in the
>> we saw the isolation of cutter. u.s. fightoes the and trying to defuse what seems >> my gosh, setting we should be talking about that. are based of north is bahrain. we've got to get the two sides working and out of the from a maritime perspective, without question, it will be a hard-line in unfortunately to the fall line between saudi, the uae and david: you quit
someone in your book. his price if he would've gotten of the fleet. i wonder with the background you evidently, there was --e each would have strongly you are a real -- thank you, allies for not spending enough. they have not done that quite yet, but they are the best will the allies will ever have so to that ise and refuse, what has led to angela merkel saying maybe we have to take our
destiny in our hands. what that does is open the space for china to step into it just as our withdraw from the transpacific partnership. we need to be mindful that our allies want to be with us but we have to work with them. -- it was something i asked the secretary general to your looking at the u.k.. howard are you about our ability to share information? >> there has been an attitude at the white house by the president and whether or not he should sure things are not, how accurately they are portrayed
let's start with a broad question. ?re we in maritime nation maritime not only a nation, i would say we are almost an island nation. we have these two massive oceans on either side. north, and arctic ocean in this benign medical notion -- -- we have a very capable maritime capability and we have an incredible ability to search antsy if we have to. divided.ok is we see china spending on their
military. pacific is the expecting to change. >> you can take all the land and the rest of the world and put it in the pacific ocean freight 70% of the world is covered by the sea. pacific is see the they willyard and challenge us in the south china sea where they claim the entire area and at the same time, we remember that russia is a pacific naval power. >> bring of russia and i think of the arctic. a lot of natural resources there. navalt, the bulk of our
is going to be? >> probably not the bulk. i would say it will be divided. the mediterranean is going to continue to matter. think of it this way. -- it becomesing on one side russia and the other side, nato. we will be operating extensively. -- what more do we be doing you a better sense of what is going on in the pacific? >> it was more rhetoric than it was actual movement.
as we were trying to do that pavement,. a string -- i think this administration will find its way back in the we need to do is move more of our ships in forces there because if we don't, we will seize that space to china. >> let's look at the residence puzzles. what needs to change? >> number one is warships. we are well below are week need to the four global maritime powers.
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>> the associated press reports british police have named two of the london bridge attack suspects. they have been identified as -- and --. british counterterrorism investigators searched to holmes yesterday and that's searched -- searched two homes yesterday. that attack sent in my left seven people dead theater there three days to go before the british election and the rhetoric is heating up over the saturday attacks. labor party leader jeremy corbyn said prime minister theresa may should resign over budget cuts police. she has a strong record dealing with extremism and says corbyn and -- corbyn opposed every counterterrorism law she has introduced. u.s. ambassador nikki haley introduces the human body rights
council tomorrow in geneva. she has called the council so corrupted ambassador hailey says several of the 47 nations on the rights have poor human records themselves, including cuba, china, and saudi arabia. down.s. up in court struck 28 house and senate districts in because theya violated the rights of african-american voters. the justices stop short of ordering the districts to be redrawn. bill cosby doesn't plan to testify in his trial that began today on sexual assault charges. gave could prove pivotal. he discussed his practice of -- invitinges women to parties that feature pills now call. powered by 2700 journalists and analysts in over 120 countries.
this is bloomberg. plottingny are president trump's infrastructure push. receiving a ofre criticism from executives. are his policies alienating the business community? marty, great to see you as always. this is a president who killed himself as a businessman president is what extent in order to be that you have to enjoy the support of fellow businessmen? >> it certainly doesn't hurt and if he wants to make the argument that his infrastructure plan supportnse, getting the of people like jamie dimon certainly does not hurt. it is a public-private partnership, the private part, which is businesses critical element in that plan.
>> am struck by how willing business leaders and investors are to have the in this administration based on the promise of their in some change. i think about the tax reform proposal in particular. many months we got this one-page list of principles. people are largely optimistic. how about infrastructure? he brought this up in a joint session to congress and we are seeing some indication of what it is going to be like. >> the big gorilla in the room is congress. they have so much legislation on their plate and where infrastructure fits and all that is unclear. there is the debt limit, there is budget, tax reform.
you have to think infrastructure sits behind all of those. even if you were to get any bipartisan agreement on the need for infrastructure. how are you going to get that accomplished in this lyrically charged atmosphere is very >> i think the conversation of tax reform, it couldn't happen until we got health care reform. saying it wrapped up in this package, some element of tax reform. they haven't be desigd th way. >> they are all part of a similar narrative. those pieces are all interdependent. and nobody is talking about repatriation of profits overseas. there were ways they figured out how to get that money back here,
tax it, and use it to fund infrastructure. they even produced a specific piece of legislation. even the optimistic among the trump camp think tax reform can't happen until the fall. all these pieces are interdependent and equally troublesome. >> the chairman of bridgewater was out with a statement. he wrote my inclinations art of you donald trump's policies to the lens of one exhibit economies and markets as well for my vantage point of being a global and u.s. citizen. not surprising for those of us that know his background. is that something the executive's share after the president announced his decision to withdraw from the paris accord? was that a bridge too far?
>> you are not seeing a lot of executives standing up and saying i'm no longer going to support this president. then you got jamie dimon saying the only way you can really eat at the table is to sit at the table. the peers according, most ceos were against us drawing -- against us withdrawing. the things they agree with they will support and the things they don't agree with it will express mild opposition. but i don't see corporate america in full revote -- revolt. >> conflict in this administration, right now also writing about that, saying i'm concerned about his path,
especially concerned about the consequences of him pursuing so much conflict. here i would like your observation about how he is running this white house to you -- white house. >> there were many people around who said it didn't cost us anything to stay in it. the optics of doing so may .ctually be beneficial decided to take the campaign donald trump and apply it to the paris agreement. he does pick conflict when he thinks it helps him politically.
some of the important critical he has shown a more reserved stance. china, he has moderated his stance on china. >> bloomberg senior executive editor for international politics joining us. a quick market update this afternoon. apple's worldwide developers conference is going on. makera medical device that provides continuous moderating -- continuous monitoring. apple devices are going to pull some of that data from some of these monitors so apple shares have not been searching even
asked this conference has been going on. it looks like they are awaiting some kind of device. if you want to follow along, it is your way to get there on the bloomberg. >> bloomberg editor at large, going throughout the afternoon on bloomberg television. tells is what concerns him about president trump's infrastructure. this is bloomberg.
the trump economy, i am david gura. i want to bring in cory johnson. along.llowing here to help me understand what that is his cory johnson. what are we learning today from apple? >> this is the stuff that gets developers excited. it is how the applications work and what they can do with the application. some really interesting development for developers. how the new bluetooth was going to work for applications were going to work.
up in arms, limiting trackers to track across the web. to make the adng community happy. these kindly developments are really important to developers and really important to the -- >> they care about the apps they are developing. there are going to be new brighter displays. they can produce a billion colors. departing?e >> part of it is they have gone behind in the market cycle. these new ones might. also the new operating system will have a beta download in june.
they wantof showing to get people up to speed with the latest stuff. map.usage on the >> how much is apple investing and virtual reality? software going forward, how many are they putting into that? >> we are going to see about that. in the machine learning and artificial intelligence world, the top places to go to work our amazon, google, facebook, and apple. and weeding with bated breath. >> that is cory johnson in san jose.
blogging on the worldwide developers conference all day long. >> the two big international stories, one having to do with cutter and saudi arabia's. with thattions country. it is one that is fairly traded typically. it is one way to meure the effect here. here in the u.s., this is -- another way is to look at the sovereign bond market. it is 9129. you see the big drop we have in price. 1.8 percent reaction.
has this a patent in the oil market. there is concern that there be supply constraints. -- cutterike traders is a big exporter of liquefied natural gas. markets digested -- the other international story , anto do with mexico important election in the state and in that nation. party, enrique pena nieto is in that. we are seeing the dollar fall versus mexican peso. it looks like the peso is around its highest level. >> president trump's infrastructure -- as marty
spoke at the dimon china summit. he spoke about the importance of reform on u.s. growth. >> this economy has been chugging along. a very long recovery, a weak recovery. about half of the average recovery. wife -- ifwe may's we make wise policy decisions around corporate tax come infrastructure, regulatory can grow itink we more. i don't think we will relegate the slow growth. >> what needs to be done in the united states? >> we haven't built a major airport in 20 years. i'm told it takes 10 years to get the average permit to build one bridge. i just came from hong kong.
it is embarrassing. it is permitting and rules and requirement. we have to get back to a can-do attitude of infrastructure. and it damages growth. >> president, chairman and ceo of -- larry summers is also applauding president trump's decision to deal with infrastructure. they discuss the overhaul of air traffic control and gave his opinion on what the u.s. needs to do to regain growth. support big reform and air traffic control. here's the problem. needs tor of the plan the only nonprofit public
corporations to think of -- i it is a hugely successful formula. i want to see why they think tos change an organization change things. but to have air traffic control either leading edge. an aggressive are effective way going about it or are they going to use this buzzword. anxiouslybe watching -- >> if you can pick one thing though it changed the u.s., maybe 3% gdp in yield, what
would it be, the one thing? >> infrastructure investment and rational policy. >> what are the chances that you do that? >> well under 5050. budgets don't add up. america's problems are solvable. them andto focus on not focus on issues of personality. >> that was larry summers earlier on bloomberg daybreak. bloomberg in the market that bloomberg market coming up. -- bloomberg markets coming up.
fired fbi director james comey will get a chance to talk about private conversations with president donald trump publicly on thursday. a close session in the afternoon. joining me from the russell building in the capitol hill. it's going to be a hot ticket to get into heart to 16. look him we expect in terms of what the question like his that question mine is going to be like? what the question line is going to be like? >> two things we can expect, i expect democratic senators to push hard on this. two private conversations when he was fbi director. -- in which the
validating this publicly. department -- >> suffice to say the white house is not excited for the testimony to take place. outlets that the white house might consider trying to prevent the testimony from taking place. >> the president is a hard man to predict. there has been some reporting and talk from other reporters that the white house considering that legal experts have raised questions as to whether it is possible. move.a peerless
this would be an unprecedented move. the president has said, the white house has said they have nothing to hide. we have no evidence of collusion, but it ends up to be some evidence to cover it up, that democrats pounce on. >> national political reporter, count on him for coverage ahead of that hearing area -- hearing. i want to go to cory johnson. reports of a new apple macbook pro. i guess we are getting some indication on why they have updated the hardware. >> from a geek perspective, they are very stunning. they are putting some chips and this machine now that are very powerful.
if you think about it, the movies we have seen, the graphics that are created whether it is virtual reality or animation, they are quite often done on the mac but they require powerful processing. multiple reports up to eight court -- boon.could be a big >> bloomberg markets on bloomberg radio. more to come here.
scarlet: we're live in bloomberg world headquarters. in politics, changes in the air in washington. president trump unveiling his proposal to spin off the air traffic control system to a nonprofit, as part of his weeklong push for his infrastructure plan. jpmorgan ceo jamie dimon is optimistic about the president's economic agenda. he told bloomberg exclusively why he is hopefully even though he disagrees with the white house stance on trade. updates are coming to the apple watch and apple tv at its annual worldwide developers conference, with much more still to come. let's get a check and where stocks are moving with julie hyman.