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tv   Bloomberg Markets European Close  Bloomberg  February 15, 2019 11:00am-12:00pm EST

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get, they didn't build or didn't do what they could have done. it would have been great to have done it earlier, but i was a little new to the profession. we have a little disappointment for the first year-and-a-half. people that should have stepped up did not step up. it would have been easy. not that easy, but it would have been a lot easier. some people didn't step up. you are stepping up now. we have a chance of getting close to $8 billion, whether it is $8 billion or $2 billion, it is going to build a lot of wall. we are right now and construction with wall in some of the most important areas. we have renovated a tremendous amount of wall, making it just as good as new. that is where a lot of the money has been spent on renovations. we are restricted to renovating, which is ok, but we are going to
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run out of areas we can renovate recent. we need new walls. i want to thank everybody for being here. the angel monzon bats for being dads for beingd here. the people that really love our country, they love you. i just want you to know that. i know how hard you fight and how hard a fight you are having. i also want to thank all of the law enforcement for the job you do. believe me, our country loves you and respects you greatly. we are giving you a lot of surplus. we are giving you surplus military equipment, which a lot previous didn't like to this administration. hundreds of millions of surplus equipment. as we get it, we sent it down any have much better protection. i really appreciate you being here. the order is signed.
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i will find the final papers as soon as i get into the oval office and we will have a national emergency, and we will then be soon and they will sue us in the ninth circus even though it -- circuit even though it shouldn't be there. you will possibly get a bad ruling and then another that ruling and then end up in the supreme court, and hopefully we will get a fair shake and went in the supreme court just like the ban. we lost and then in the appellate division and then went to the supreme court and won. it was very interesting because yesterday they were talking about the ban. we have a ban. it is very helpful. without the ban, blue have a bigger problem. with have a ban on certain countries depending on what is going on in the world. somebody sent, president trump
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lost on the ban. he didn't say that we ultimately won at the united states supreme court. they didn't want to go that far. they were saying how i lost. donald trump lost on the ban. i did and then i lost a second time, and then it went to the supreme court and i won. didn't want to take it that far. we won on other things too. the easiest one to win is on declaring a national emergency because we are declaring it for virtual invasion purposes, drugs, traffickers and gangs. one of the things, just to finish, we have removed thousands of ms 13 gang monsters. thousands. they are out of this country. we take them out by the
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thousands and they are monsters. do you have any questions? you were prepared. mr. president, a lot of the --ey you are prepared for questions. a lot of the money that goes to count toward your $8 billion in money being reprogrammed in the dod budget. how can you guarantee to military families and our men and women of the military that none of the money that would be reprogrammed for the wall will take away from other technology, other renovations desperately needed in our military? >> we have certain funds being used at the discretion of generals and the military. some of them haven't been allocated yet.
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some of the generals inc. that this is more important. i was speaking to a couple of them and they think this is far more important than what they were going to use it for. think, i have gotten $700 billion for the military in year one. billion, and we are rebuilding our military, but we had a lot. under the previous administration, our military was badly depleted. they weren't spending -- they had a much lower amount of money. when i got $700 billion in than $716 million, in this year, it is going to be pretty big because there are few things more important in our military. i'm a big deficit believer in all of that. before we really start focusing on certain is, we have to build our military.
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we are buying all new jet fighters, all-new missiles and offensive equipment. we will soon have a military that we have never had before. when he think about the kind of numbers you're talking about, you have $700 billion, $716 billion, when i need $2 billion or $3 billion out of that for a while, which is a very important and very important for the military because of the drugs that pour in. --have a very specific roles rules and regulations where they had drugs and what you can do in order to stop drugs. we are taking a lot of money from that realm also. when you have that kind of money going into the military, this is a very small amount we are asking for. go ahead. abc, not nbc.
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i like abc a little bit more. not much. >> what do you say to those, including some of your republican allies that say you are violating the constitution with this move and setting a bad precedent that will be abused by possibly democratic presidents in the future. >> not too many people have said that, but the courts will determine the. i expect to be sued. i shouldn't be. other people say, you use it for this. we have to get rid of drugs and gangs and people. it's an invasion. we had an invasion of drugs and criminals coming into our country. it's very hard to stop. with a wall, it would be very easy. i think we will be very successful in court. i think it's clear. the people that say we create times, manya lot of
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of those are far less important than having a border. you don't have a border, you don't have a country. before i got here, we fight a over the world to create borders for countries, but we don't create a border for our own country. is ank what will happen sadly, we will be sued and it will go for a process and happily, we will win, i think. go ahead. let's hear it, nbc. when president obama tried to use executive action when it came to immigration, you said the whole that is not the way the country is supposed to be run.you said you're supposed to go through congress and make a deal . will you can see that you are unable to make the deal you
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promised in the past and that the deal you are ending up with now is less than what you could have had before a 35 day shutdown? >> i went through congress and made a deal. i got almost $1.4 billion when i wasn't supposed to get one dollar. it.not happy with i also got billions of dollars for other things, port of entry, lots of different things, the purchase of drug equipment. more than we were even requesting. the primary fight was on the wall. everything else, we have so much, i don't know what to do with it, we have so much money. on the wall, they skimped. sense,uccessful in that but i want to do it faster. i could do the wall over a longer period of time. i didn't need to do this, but i would rather do it much faster. to do it for the election, i have already done a lot of wall. the only reason we are appear here talking about this is because of the election. the want to try to win an
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election which it looks like they are not going to be able to do. this is one of the ways they think they can possibly win is by instruction and a lot of other nonsense. i think that i just want to get it done faster. go ahead. >> thank you. i wanted to ask about china. do you feel that enough progress has been made in the talks to head off the increase in terrorist scheduled for -- tariffs scheduled for march 1. >> you're talking to the wrong person because i happen to like tarffs. our steel industry is an example. much of it comes from china at 25%. of your industry is so vibrant again that building plants all over the united states. from a defensive standpoint and any standpoint, you need steel.
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you can do without certain industries, our country cannot do without steel. i love tariffs, but i also love them to negotiate. right now, china is paying as billions of dollars a year in tariffs. i haven't even started. here's the thing. if we make a deal, they won't have to pay. it will be a whole different story. deal.ill have a fair that will be intellectual-property theft, so many other things that have gone on and no other president has done this. we didn't have a deal with china. you have the wto, one of the worst trade deals ever made, probably even worse than nafta, which is hard to believe because i think it was a total disaster for our country. usmca, which is going to be a great deal. by the way, the usmca from mexico, that is the u.s.-mexico
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and canada, that is where the money is coming from indirectly for the wall and nobody wants to talk about it. we are saving billions of dollars a year if congress approves that deal. they might not want to approve a deal just because they will say -- one of the things i am thinking of doing, this has never been done before. no matter how good a deal i make china, if they sell me beijing for one dollar, if they give me 50% of their land and every ship they have built over the last two years, which is a lot, and they give them to me free, the democrats will say what a lousy deal. that is a terrible deal. than $1, i got more billion penalty. the democrats say, should have gotten more. when i made that deal, i said this is incredible, i got over a
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$1 million penalty plus they had to change the board of directors. i said what a deal. it took like a week. the democrats didn't even know there was a problem with zte. i'm the one that find them and settled it. over $1 billion. called me and said it would be important to him if they could get a deal. in a short period of time, the democrats went out and said they should have been better. when i am thinking of doing is getting chuck schumer, nancy pelosi, having them bring two or three of their brilliant representatives and we will all go down together and what we and do is we will negotiate put them in the room and let them speak up against any deal i make with china, it is going to anybodyr than any deal
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ever just possible, or i am not going to have a deal. any deal i make with china, schumer is going to stand up and say it should have been better. you know what? that is not acceptable to me. i'm thinking about doing something very different. i just don't want to be second-guessed, but that is called politics. sadly, i probably would do the same thing to them. any deal i make, toward the end, i'm going to bring humor and polosi-- schumer and -- pelosi. i see our new attorney general in the front row. please stand up. he has the easiest job in government. thank you and congratulations. that was a great vote yesterday. go ahead. >> in your remarks, you said you
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were too new to politics earlier in your administration when he would have preferred this be done. is that an admission of how you might be changing on the job? >> i am learning. .t's not like i have done this a senator kaine into my office and that i have been running for 30 years. i have never been politics before and now i do politics. i'm very disappointed at certain people for not having pushed this faster. >> you preferring to speaker ryan? >> let's not talk about it. what difference does it make? they should have pushed it faster and harder and they didn't. if they would have, it would have been a little bit better. in the meantime, i built a lot of wall. i have a lot of money and i don't a lot of all, but it would
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have been nice to have gotten done. i would like to see major immigration reform and maybe that is something we can all work on, bill where we all get together and do major immigration reform, not just for a wall or barrier or port of entry. we have a real problem. we have catch and release. you catch a criminal and you have to release them. we have so many other things. we have chain migration where a spring 22 comes in, or 23 or 35 of his damage members because he has his mother, grandmother, sister's, cousins, they are all in. you saw what happened on the west side highway. that wise man drove over and killed eight people and horribly -- going 60 miles an hour he made a right turn into a
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park on the west side highway alongside seine river in new york. he had many people brought in because he was in the united states. is called chain migration. and then you have the lottery. it is a horror show because when countries put people into the lottery, they are not putting you in. they are putting some very bad people in the lottery. is common sense. if i ran a country and i have a lottery system of people going to the united states, i'm not going to put in my stars. i'm going to put in people i don't want. the lottery system is a disaster. i'm stuck with it. it should have never happened. >> could you tell us to what degree some of the out-evident oysters helped to shape your conservativeide views helps to shape your views? >> sean hannity is a great supporter of what i do. rush limbaugh, i think he's a great guy.
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he can speak for three hours without a phone call. he has cut one of the biggest audiences in the history of the world. this guy is unbelievable. try speaking for three hours without taking calls. taking calls is easy. hours and hehree has got an audience that is fantastic. they don't decide policy. , and coulterosite i don't know her but the press loves saying ann coulter. i just the time to speak to her. i would, i have nothing against her.i like her for one reason . when they asked her at the beginning who is going to win the election, she said donald trump. the two people that after that question smiled and said, you are kidding, aren't you?
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she said nope. i liked her. shoes off the reservation, but anyone who knows her nose that. the press loves to bring up the name ann coulter. i think she is fine and good but i just don't be to her. laura anger has been great -- laura ingram has been great. dr. carlson has been great. i had some on msnbc the other day that a report on me and i said, where the hell did that come from? the crazy thing is, i just had 52% in the polls. that is my highest poll number. people get what we are doing. they get it. i'm honored by it. jim acosta. >> i wonder if you could comment on this disconnect that we seem
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to have in this country where you are presenting information about what is happening at the border, calling an invasion, talking about women with duct tape in our mouths and so on, and yet there is a lot of and homeland there security data that shows border crossings at a near record low. it shows undocumented criminals or immigrants committing crime at lower levels than nativeborn americans. >> you don't really believe that stat. take a look at our federal prisons. >> i believe in stats and statistics. your critics who say that you are creating a national emerged as a -- emergency in order to get your wall. >> do you think i am creating something? ask these incredible women who lost their daughters and sons
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because your question is a very political question because you have an agenda. you are cnn, you are fake news, you have an agenda. the numbers you gave are wrong. take a look at our federal prison population. see how many of them percentagewise are illegal aliens. go ahead and see. it's a fake question. go ahead. that,t to follow up on unifying crime statistics, numbers from this government show that the amount of illegal immigrants are down, there is -- violence on the border there is not as much violence on the border. let me finish the question. i understand what you are saying. i was there. i understand. that is not the question.
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and not forgetting about it i'm asking you to clarify where you get your numbers because most of the dea crimes reporting statistics that we see show that drugs are coming across at ports of entry, that illegal immigration is down and violence is down. what do you base your fax on? -- facts on? secondly? >> sit-down. sit down. you get one question. i get my numbers from a lot of sources like homeland security primarily. the numbers i have from homeland security are disaster. you know what else is a disaster? the numbers who come out of homeland security for the cost that we spend and money we lose because of illegal immigration. billions and billions of dollars a month. it is unnecessary. >> so your own government stats are wrong? >> no.
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i use many stats. use homeland security. next question. >> just a quick follow-up. >> go, please. >> i just want to bring you back to china for a second. the white house put out a statement talking about the march 1 deadline. the other day, you gave the possibility that maybe this slide. are you eyeing a possible extension? >> it's a very big deal. i guess you could say it must be the biggest deal ever made. usmca isok, at the right up there. complicated. there are many points we are bringing up that nobody ever brought up or thought to brought up, but are very important because we run the wrong side of every one of them. there is a possibility that i will extend the date. if i do that and see that we are
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close to a deal with the deal is going in the wrong direction, i would do that at the same tariffs we are charging now. >> let me also ask you about the debt because it is now a shade over $22 trillion and heading in the wrong direction.what are your plans to reverse it? >> it is all about growth. before i really focus on that -- president obama put on more debt on this country then every president in the history of our country combined. when i took over, we had one man that put on more debt than every other president combined. combine them all. you can't be talking about that, but i talked about it because i consider it very important. but first, i have to stick -- straight now the military. it was depleted. if we don't have a strong military, you don't have to worry about debt, you have bigger problems.
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that is why i did the $700 billion and $716 billion. you saw last month the trade deficit went way down. everybody said what happened. what is happening is growth. before i can focus too much on that, and very big expense is military and we have no choice but to straighten it out. >> is growth the only answer? >> yes ma'am, go ahead. >> on north korea, you guys can out with a pretty general agreement. i was wondering what you thought has been accomplished since the last summit and are we going to be seeing any concrete on denuclearization? >> a lot has been accomplished. we are dealing with them and talking to them. when i came into office, and that right there in the oval office with president obama. i sat in those beautiful chairs .nd we talked
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i said what is the biggest problem? he sent by far, north korea. i don't want to speak for him, but i believe he would have gone to work with north korea. i think he was ready to go to war. in fact, he told me he was so close to starting a big war with north korea. where are we now? rockets, nos, no nuclear testing. we have learned a lot. we have aimportantly, great relationship. i have a very good relationship with kim jong-un. i have done a job. in fact, i think i can say this. prime minister abe of japan gave me the most beautiful copy of a letter that he sent to the who give nothing a nobel
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prize. he said i have nominated you respectfully on behalf of japan. i'm asking them to give you the nobel peace prize. i said thank you. many other people feel that way. it. is ok, i will never get they gave it to obama and didn't even know what he got it for. with me, i probably will never get it. but if you look at syria, i stopped the slaughter of perhaps 3 million people. . nobody talks about that syria wereiran in going to go in and perhaps destroy 3 million people in order to get 45,000 terrorists. i heard about it from a woman who had her parents and brothers living there and she said please. i said no, it can't happen.
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paperi came home and i read a that they were actually forming to go into, to really do big destruction. and i put out a statement that, you better not do it. and in all fairness to russia and iran, and syria, they did not attack, or they are doing it surgically, at least. save a lot of people. this administration does a tremendous job and we do not get credit for it, but the people understand what we do. gaveime minister abe, he us the most beautiful five-page letter. nobel prize, he sent it to them. you know why? he had missiles flying over japan and they had alarms going off, you know that, now all of a sudden they feel good, they feel safe. i did that. it was a very tough dialogue,
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fire and fury, total annihilation. my button is bigger than yours, remember that? people said, trump is crazy. and it ended up being a very good relationship. nobody else would have done that. the obama administration could not have done it. they probably would not have done it. and number two, they did not have the capability. so i want to thank everybody and wish our new attorney great luck and a speed and enjoy your life. bill, good luck. a tremendous reputation, i know you will do a great job. thank you. thank you very much. vonnie: president trump declaring a national emergency to get additional funding for his border wall. we heard a lot in the original speech, and of course the
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question and answer session afterwards. he said, i will be declaring a national emergency. there has really been a problem before. nobody cares, they sign up for less important things. we will bring back michael mckee, our chief correspondent. and kevin cirilli at the white house. kevin, this was anticipated. he will have to sign this at some point. we are already getting pushed back. the new york attorney general saying she will use all the tools in her power to combat this. what kind of a blowback to you anticipate? kevin: the president saying, bring it on in terms of the looming legal battle that will not be triggered as a result of the declaration of the national emergency to secure $8 billion worth of additional funds for the walk along the u.s.-mexico border. other developments out of his comments, including he is open to delaying the margin one deadline of a tariff increase on
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a host of additional u.s., or chinese imports coming into the u.s. and he also signaled a path forward, potentially in a strategy to negotiate with xi jinping of china come offering to invite -- vonnie: ok, thank you for your coverage. we will be chatting with you again. now, michael mckee. the market has not reacted. we did not expected to react. nevertheless, this is a huge development, the president declaring a national emergency and making nothing of it, saying bute did not say this -- 28 national emergencies have been declared. he said we have an invasion of people and drugs and we are doing it. michael: here is the most interesting thing, he was asked about the emergency declaration and he said, i do not have to do this, but i want to build the wall faster.
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that undercuts his case. if he does not have to do a national emergency, then why is he doing a national emergency? the legal experts are chomping at the bit to get to this and put this in front of a federal judge. so it was a very bizarre rambling, fact challenged news conference on the part of the president, who touched on so many things. but the core of his argument was this was not necessarily true. that is the big takeaway on the national emergency. vonnie: yes, and he mentioned a platform and a said, we ran on make america great again, but he did not mention on making mexico pay for the wall and that part is conveniently forgotten. he said we have not been given the equipment, the wall, when it comes to stopping drugs coming into our country. and the sexuality of that, however the judge's -- the sexuality of that, however the of that,actuality
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however the drugs come in, that will play to the base, won't it? ched into a long rambling of the comments on how great specific, right-wing commentators like rush limbaugh and sean hannity are. so, citing the base, citing the people he likes, maybe they will enjoy this. but to the point about whether or not the drugs are coming into the country, he was asked twice, where does he get his numbers because he is talking about an epidemic of drugs coming in, women being tied up and driven into the country and all these things he is trying to stop and the data does not show that. he was asked, where do you get your facts, and he refused to say. he said from the department of homeland security. he was asked if you would ensure
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that information, he did not. vonnie: he did not mention a figure i heard. obviously, there is a bill he will sign either today or tomorrow and we know that there is $1.37 billion for the wall in there. but he did not say what the national emergency would pull in terms of money. we will get back to washington dc and bring in andrew harris, how is our government legal reporter, live in washington. we have the new york attorney general saying, she is going to put every tool she has at her disposal into protesting this national emergency. what tools are at his disposal disposal? >> no shortage of people turning sue. especially from the border
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states, where land will be appropriated, and where people will be directly affected by president trump's declaration. no shortage of people lining up to file lawsuits to stop the spirit vonnie: -in terms of- -- stop this. vonnie: in terms of the national emergency, effectively we are in a state of national emergency on this issue it seems now. what do you anticipate congress will do? andrew: that depends. as michael referenced, is it an emergency? that will be a question the courts will have to tackle. the president went to congress to get the funding he wanted and two times they said, no. the constitution gives congress, not the president, the power of the purse string. nancy pelosi has already said this. and in the federal court, there
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is a measure that the obama administration tried to put through without congressional preparation concerning obamacare and it was not to down by the court because there was no appropriation. so there is a standard for forcing the issue after congress has said no, or where there is no actual appropriation for the expenditure the president wants to make. he may be up against that. vonnie: he mentioned all of the courts he could potentially see this going through, it did not seem to stop his resolve. how on for a few moments, we will check the markets. as the president also said, the markets are up today. 1.2%.e dow jones is, up as a profound vision up -- the s&p 500 is up 8/10 1%. and some earnings of stories dragging on the nasdaq. 10 year yield at 2.66%. gold is around 1315.
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and the dollar index is just above 97. not much impact from all of this all risk assets. now we will go to the european close. now to london and to danny. >> european markets closed for the day and you can see how big of a gain it was. more than 1% from most of the region come even nearing 2% for ftse 100. global growth concerns taking a backseat. check out the other majors. the ftse 100, 7236. this is an underperformance from u.k. stocks, likely coming down the pound gain against the dollar by nearly .5%. putting a lid on how much u.k. stocks can gain for the day. and a turnaround in the dax. it started the day to the downside after european car sales came in weaker than expected. up now nearly 1.9% with a strong
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turnaround. trade headlines helping the dax. and when it comes to trade headlines helping indexes, of course we have to look out for the cac to outperform, because of all the luxury goods in there. then the, another -- vendi, another story helping the cac. up 5.6%. and they announced a dividend today, a buyback rather, this could be up to a fourth of their shares. dividend play, a buyback play, very large with european investors so far this year. that could be why we saw a positive reaction. and looking to sell part of the universal music group, a really profitable part of vivendi. and scout 24 ending up nearly 11%. they will accept a sweetened deal from helmet and blackstone. this will put it at 4.9 billion euros at 46 euros a share.
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that is right where scout 24 into the day. -- ended the day. telecom italia was the other big mover of the day. the state lender will take a stake in telecom italia, according to people familiar. 6.4%, one of the conditions of the stake that they have to spin out their landline business. something investors have wanted to see from telecom italia, analysts say it is worth 15 billion euros. and i also want to show you the volume picture. today, a lot of conviction behind the trade. we are ending with more volume, something we rarely see going into the weekend, but now investors are happy to hold onto their positions as market gained into the close. vonnie: and that was a look at the european close.
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now, let's get analysis from our managing editor for rates and fx. we are just about 10 minutes into the friday close poll and one of the major things that move the markets in europe was the idea that the u.s. and europe are getting closer on trade. definitely one of the things people are talking about today. we are a little bit hs to see what might come -- bit anxious to see what might come with the tariffs on european cars. at the same time, the broader bigger picture, less trade attention and less friction, less chance of greater protectionism, that will be good for european assets. and then there is, or there was another factor as well today, from the currency. the bureau driving down again today, as -- euro driving down again today, as further comments
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came out from the ecb, a senior policy maker talking about the most in terms of longer-term loans. talking devilishly -- dovishly. another good reason to be excited about the stock market. vonnie: in terms of currencies, we have not seen a huge move. euro trading at 1.1267. and the british pound stronger, 1.5852. one thing the president said about the u.k., trade with the u.k. will increase. he cannot really talk about that at the moment because the u.k. is still in europe and it cannot negotiate trade deals, but he seems convinced that there is something to be said for talking about talking. paul: yes and that is a positive for the u.k. any good news right now for the
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pound and for investors, brexit negotiators, anybody is calling out for good news. there seems earlier today was a possibility as well from the european side, from the irish, just a little hint of maybe an olive branch of that could help theresa may find a compromise, just enough to get her deal through the yea -- the parliament. comments from ireland, saying we would not want a hard border if there is a no deal brexit, which is kind of impossible. digesting they want to avoid -- and said just want to avoid a no deal brexit. this is good news. vonnie: paul dobson, thank you. always insightful. and meanwhile, leaders in
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defense are in bavaria today for the munich secured a conference. and matt miller is on the scene. here hey, the big story before donald trump signed this emergency declaration to build his border wall really was the showdown between the u.s. and china in terms of security. so, while way -- huawei is a huge issue. they will want to use them here for a 5g network and i am sure paul dobson could've commented on this because the u.k. is in a similar situation. the the germans have not pleased the americans by supporting the building out of the nordstrom two gas pipeline, another issue the germans are not able to avoid. and the iran issue, the foreign minister is here. angela merkel is coming here and we are awaiting a number of u.s. politicians here, including
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nancy pelosi and the vice president. so this conference is really kicking off. i have to say that the reverberations of the press conference from donald trump are really now rolling around the campus. vonnie: absolutely. that happening a few minutes ago and i know you will be listening to everything and bringing us news from that conference. appreciation to matt miller in munich. and turning now to a company story, the company story for new york city. shares of amazon, still in the red today, with the company pulling out of their plan to build headquarters in new york city. now spencer in seattle. thes the second day of original euphoria or despair. it is running off from other side of the story. an analyst said earlier that this is gamesmanship. amazon is thinking about maybe
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coming back to the table, if new york reaches out. it that a little bit too conservatory -- conservative? >> who knows, this thing has gone in so many directions all of a sudden, it is anyone's guess. we have heard indications that it is nonnegotiable. and amazon could is simply keep growing there, they already have a presence there, they could try to keep growing under a low profile without all the pop and circumstance around tax breaks. it is clear that amazon certainly has made a big decision to pull out of this big office expansion in the deal that has been negotiated, but we do not know how they will regroup and where the bodies will fall now. vonnie: certainly, they are not doing tv interviews. anyway, we put out the request. spencer soper. , thank you.
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from new york, this is bloomberg. ♪
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vonnie: in new york, i'm vonnie quinn. the 20th annual nba all-star technology summit is underway. jason kelly and carol massar are there in charlotte and in the of one of the biggest names in sports management. >> ok, thank you. a heavy hitter when it comes to sports, but paul is with us -- rick paul is with us. you represent lebron james, and the davis -- and anthony davis. how did that go, not so well? >> that is not true. for the average viewer who does
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not understand our business, and if you listen to what the media gives you, you might say that did not go well. but what didn't go well? a guy stating his intentions? because you do not know the end goal. that was not to do anything today, or tomorrow, it was to say, hey, this is where i am matt and at some -- am at and at some point we will figure this out. >> so it is ok the trade did not happen? >> absolutely. >> how much of this speaks to the massive echo chamber we are living in, cable news and social media focusing on this. the nba has become a hot commodity and mrs. an out -- this is an outdated term, but a water cooler, 365 days a year. >> most people commenting on social media are commenting from
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a very negative perspective. it is very hard for the average human being to say, that is a really nice shirt you have on. it does not help them. going to bense is because they want to have a talk, but there is no negative to it. what anthony did was one of the most professional things an athlete in his position could do by letting the team understand what his thoughts are early on. the other side of the coin, you get to a point where you put the team up against a wall late in the game and say, no, i do not want to do that. i want to do something different. and they say, why didn't you tell us earlier? so, there is no right or wrong, it is just -- hey, i am telling
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you what i intend to do, so do what you need to do. we do not have control of them, right? >> carol mentioned you work with some of the biggest names. and we are at a time where the players are massive brands onto themselves. how do you balance the needs of a player, your clients, and the needs of a team in the modern nba? rich: it is very simple, the game is everything for us and that is what we focus on. we try to educate the new players coming into the league and their families to have a very realistic evaluation of what is actually available to them. this whole notion of marketing, people sell that because in their minds this is what the families want to hear, this is what the kids want to see, but i tell people all the time that there is no brand that will pay you $200 million, but your team
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will. it is about notoriety. and think about the billboards, putting your face up there, and let's focus on the game. the game is everything. and so, nine times out of 10 you get drafted to a team where the it player is already there. coming in, you want to have the opportunity that you may think, or your family may think. but if the game grows. steph curry, for instance. an mvp in, he became his business group. -- grew. that is how that works. everybody cannot be lebron james coming in where he had $100 million in his contract to start, but that was timing. think about the game then, the guys that basketball had lost.
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he was a new guy. opportunity hurts because everybody is a personality today. i just saw jay leno rose and mith on a mcdonald's -- smith on a mcdonald's commercial. now, the brands are not spending the money on the athlete because they need to align with somebody. but everybody is on tv, the smartphone is the new tv, right? so the partnership of yesterday became six tweets, two stories on instagram today, that is a six-month deal. carol: for somebody like lebron james, who has put his heart into the game, what are the conversations you have with him now about his brand? how do you play it in this type of environment? we started with lebron james at a young age, and we have always thought about doing partnerships that align with who
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he was. if you watch any commercial, most brands he had partnerships with was genuine to who he was as a person, what he believes in. and every commercial we did, it normally told a story, his story or there was a message, his message and it was always true to him, whether it was samsung, nike, sprite -- you never saw him do something -- even today i cannot get him off the couch for money. money does not move him today. and when you say that people are like, really? people say, you have lebron james, how do you have time to get a deal for me? i am like, lebron james is not moving. today, time with his family is more important. one thing you do not understand, when you have partnerships, they do not want days in the season,
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they want days in the summer. so the more partnerships you have, the less days in the summer you have and people do not understand that. jason: when lebron james moves, people notice. anytime he goes anywhere, people notice. he was at the duke game and all the sudden is was all about recruiting zion. what is the real story about what happens next in terms of pros and college. rich: that is good for tv, but the reality is, just love the game. nobody talked about, when we flew from cleveland to detroit and steph curry was playing at davis, nobody cared. why? i was not an agent. he was not playing in los angeles. we are there to see a game. the university of virginia's president took care of us. so, just to see a basketball
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game, it was not about anybody recruiting anybody. but people put this in the atmosphere. people run with it without making a phone call. it is like, that is not true. carol: thank you so much. i wish we had more time. rich paul, do not go anywhere. we are talking about two vonnie -- to vonnie. vonnie: a wonderful conversation. lots more interviews this afternoon. u.s. markets, the dow is up 1.4% with session highs. s&p 500 is up 9/10 of 1%. and continued coverage of the national emergency declared on "balance of power," next. ♪
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david: from bloomberg world headquarters in new york, i'm david westin.
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welcome to "balance of power," where the world of politics meets the world of business. on the brief today, kevin cirilli on the president moving forward on the wall. from brussels, on the snap spanish elections. and matt miller is reporting from the munich security conference. we start at the white house. we heard from the president, and it turns out that we have a national emergency. kevin: yes, the president declaring that national emergency, this receiving pushback from those on capitol hill. he is hoping to get a billion getars worth of funding -- $8 billion worth of funding. this as he signs a bill to keep the government open. but he has set up a legal battle, saying, bring it on. he is prepared to take this to the supreme court. republicans on capitol hill are nervous about the presidents --

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