Skip to main content

tv   Bloomberg Markets Balance of Power  Bloomberg  March 5, 2019 12:00pm-1:00pm EST

12:00 pm
on the brief today, peter coy on the new china economics. and josh wingrove on prime minister trudeau's struggle with his cabinet. and maria from brussels on the campaign to reassure europe on national security from huawei. we have a new plan out of europe. >> they are looking for growth about 6.5% versus the target last year of 6.5% and they came in around 6.6%, and this does not include the possibility of a cyclical recession. they are try to find ways to combat the slow down and there will be tax cuts. there will be value added tax cuts. cuts in social security premiums. and they are trying not to do it through more debt. but there will be in increase in the projected fiscal deficit by the government with
12:01 pm
extra government spending. david: not debt on the balance sheet, they are increasing nominal debt somewhat, but they are also allowing local municipalities to take out debt for specific projects. how big of an issue is that? peter: hsbc has estimated if you include all of that off-balance-sheet financing, it used to be called the local government financing vehicles, now it is special-purpose bonds, you will get toward a percent annual deficit -- 8% annual deficit, versus 3% by the conventional measure. david: a really big difference. peter, thank you very much. let's go north to hear from josh in ottawa. we have talked about prime minister to go, he now has -- prime minister trudeau, he now has another person leaving his cabinet. >> the treasury board minister
12:02 pm
leaving, is the minister of getting things done, she quit yesterday. it was a big shocker. this follows the resignation of jenny wasn't reynald, who had been attorney general and alleges justin trudeau and his a staff was leaning on her to end a criminal prosecution on corruption charges. it is a tool the government can do if it wants to help out companies, he wanted her to use it and she didn't. she quit the cabinet. but the following of a second minister out the door is -- or it raises absolutely the stakes for justin trudeau, this is by far the biggest political crisis he has faced. david: i guess the basic question is, can he afford to lose one more? i understand she was well-respected and there was nothing gesture she was on her way out. >> she was a star minister. all of the other ministers, right now qamar pledging their support for justin trudeau, so
12:03 pm
the question will be at whether others will follow. he might see members of his caucus, the non-cabinet level folks leave, but the question now is who is your best bet going into the 2018 election. and as long as justin trudeau is the answer to that, he will continue to have support. and then what will happen to sbc lapland. they say that this is lies, that the federal government could still do the thing that the original attorney general did not want to do and sparked this drama in the first place. david: that would take some courage at this point. now we would turn to maria in brussels, because we have heard a lot about huawei here in the u.s., but there is also news in brussels, as i understand it. maria: they are on a charm offensive in europe, just opening facility in brussels. and there is a reason why the selected brussels, that is because all of the digital
12:04 pm
innovation, 5g, will come out of the european commission. huawei said the allegations against them are unfounded, they are as good as any american company, and that really the u.s. is playing politics. none this has been proven. the reality is european officials are not naive. they are aware of the practices and they are concerned about the allegations, the industrial espionage, and a lot of it doing with personal information. but there is a tricky balance here, the fact that if you ban chinese technology altogether, the rollout of 5g could be delayed and the costs could go up. it is a difficult balance for the european union. the geopolitical story, but also the reality of business, that china provides services that are good and they do it for less money. david: cut about the source code, part of what huawei is saying is we will put source code in europe, so that will be
12:05 pm
like a hostage, you know we will behave ourselves because you could hurt us. maria: exactly. i would also say that, because this is key to the story, huawei will say we are willing to listen to you and we will do standards according to the european union, but the european commission and digital staff will say we have to be very strategic and careful about the kind of technology we use in certain areas. we have seen pushback from the german and french government, remember the failed merger , at thatwo companies time they said we face a threat from china. a lot of what they want to do sounds great, but the eu is not naive. one thing to keep in mind is pressure from the u.s. on europe is big and europe could advance abandoned china and they didn't. so the door is still open. david: now a check on the markets.
12:06 pm
abigail: investors are treading water on this tuesday. take a look at the small gains and losses for the dow, s&p 500 and nasdaq, all three flipping. higher, s&pow are 500 is lower. down, itw finishes will be the fifth down day in the last six days. and we had a big rally this year, but things can happen suddenly. thisa look at the chart, is a one-year charge of the s&p 500 and the heart of the range between 2600 and 2800, support where the buyers are stepping up around 2600, resistance at 2800. the buyers to get overexcited last summer, but they quickly corrected it. we see that the 2800 level has held like a glove, valuation retracement level, and a look at the overbought conditions, said just a we could see the s&p 500 move back into that range,
12:07 pm
especially with this year's uptrend breaking. that tells you the sellers are waiting to pounce, they just need information to do it on. not helping stocks today, the rising dollar, up about 1% over the last five days. this is the longest and best winning streak in about a month for the dollar. it will be interesting to see how that plays out. and that is not what the president wants, but we have a strengthening dollar. and also strengthening on the day, we have big gains for retailers. target and kohl's on pace for their best days of the year. target putting up a best quarter, the best annual traffic in more than a decade and their outlook for 2019 is positive. kohl's also put up a strong quarter. both are big box retailers, so that segment is doing ok. l brands are up. this is barrington capital urging the company to split the bath and body works line with the victoria's secret, which has really struggled, said they see some relief. david: thank you so much.
12:08 pm
coming up, the national people's congress in beijing gives the world an opportunity to see the face that they would like to put on their economy and leadership. we will talk to michael hinnant of brookings about what we have learned so far. this is bloomberg. ♪
12:09 pm
12:10 pm
12:11 pm
david: this is "balance of power" of bloomberg television. i'm david westin. we turn now to mark crumpton for first word news. mark: former white house special counsel considers robert mueller, "an american hero." ty cobb says he does not share president trump's opinion that robert mueller's probe into russian meddling in the 2016 election is a witchhunt. he made comments during a podcast, the investigation, that aired today. he says robert mueller is a justice oriented person and he says he does not believe the report will harm president trump politically. a lawyer for the president's former attorney reportedly asked
12:12 pm
about a presidential pardon. according to the wall street journal, his lawyer raised the possibility after federal agents raided his properties last april. he is said to have spoken to attorneys for the president and his company. those conversations are among those being investigated by a house committee. we are getting new details about how dangerous the tornado in alabama was. officials say at least 23 people were killed, 90 others injured in the small community of her regard. the national weather service says the damage path was nearly a mile wide and the twister with strong enough to bend a car around a tree. the storm had winds of 170 miles per hour. the president is making another move at unfair trade practices. the president has notified congress he will end key trade preferences for india and turkey, that starts a 60 day countdown before he can take action on his own authority.
12:13 pm
india says with a drawl benefit will not have much impact. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. david? david: thank you very much, mark. the national people's congress began today in beijing with a new economic plan, including monetary and fiscal stimulus, but there is a question even larger than the economy, what the last year has meant for the stature of xi jinping. we spoke with george magnus earlier today. asa year ago, he was hailed omnipotent and the term limits were abandoned for the president and so forth. and it is a year that has been difficult. he has encountered disquiet at home. david: we welcome now michael o'hanlon, a senior fellow and director of research in foreign
12:14 pm
policy at the brookings institution. i will put up a chart that illustrates how the economy has been slowing down in china over all and ask you, how does that stature inident xi china and within the region? michael: i think that president xi has built support for a number of reasons. and while this cannot help him, my guess is he may be able to not only survive it, but explain it away as partly the result of his anticorruption efforts, and i think that china is moving toward a different model based on consumption. and partly based on weathering this trade flap or trade war with the united states, which of course was a long time in the coming and was decided upon more iby president trump. in other words, it cannot be good and i am sure that like any china a leader will
12:15 pm
suffer as the economy suffers, but we also know that in autocratic regimes, often the narrative can be developed that explains away the slow down in broader context and emphasizes the accomplishments of this same later. so again, i am talking out of both sides of my mouth because i genuinely do not know. and i suspect it will not be a major hit on xi, as long as it is sort of temporary and this new model of growth that many economists have a favored really comes into being and restores a healthier growth rate in the years to come. david: an interesting part of the narrative came from the prime minister as he gave this economic address. because he said a lot of the problems were really because of the trade dispute in the united states, is that right, is president trump really bringing that much pressure to bear, or is this like the retailers blaming the weather for not
12:16 pm
selling stuff? michael: without claiming to much expertise as an economist, i would simply say the analyses i have seen suggest that the gdp growth implications of the traded tariffs are in this half percent range, so in a broader cosmic sense, no, it is not right to blame president trump or the tariffs for the fact that china is heading toward 6% growth. on the other hand, between 6% and 6.5%, that differential might be largely explained by the recent trade difficulties. so in the near term level, there could be something to the argument. david: let's turn to the hanoi summit, the second summit between president trump and kim, that did not come out the way that president trump hoped it would. speaking on china, what role did they play in that, a positive one or otherwise? michael: most important way, china has been imposing and
12:17 pm
largely sustaining the economic sanctions that the un security council, with beijing's blessing as a veto welding member, had imposed for the last two or three years. and there is a lot of talk about how the sanctions have a road it, there is a little bit -- eroded, there is a little bit of truth to that, but most of it is exaggeration. theseis suffering from sanctions and it is mostly china reducing the trade, because china was 90% of north korean trade prior to the sanctions, and probably still is today with what is left of that trade. so i think we have to give china credit. again, they could do better. they do allow some evasion. they are inpatient, just as south korea is inpatient to see the regime relaxed, but so far they have kept their word and they have given us the leverage, which we only could wield if in
12:18 pm
fact the entire regional economy of east asia was pressuring north korea. because there was no substantial u.s. north korea trade before this. so the pressure from the sanctions is because other countries are complying with the sanctions, countries like china in particular. that is the most important thing. david: as you know, since shortly after the end of world war ii, this has been the most opaque country in the world, north korea, to know what is going on inside. might this give us reason to believe the president is in a stronger position to get north korea to come toward him on the deal, rather than president trump go to north korea, because they had two different deals and they could not bridge the gap? michael: i agree with you, although i will not predict that a deal will be struck. hands to decide if he wants to offer a better or and more reasonable -- better or more reasonable deal than what
12:19 pm
was offered in vietnam. so in that regard, yes, we have the stronger hand on the economic front, but of course kim jong-un keep stability more nuclear weapons with every passing month, so i do not want to go too far in arguing that time is on our side. it is a mixed situation. but we should not argue that time is fundamentally on kim jong-un's side. i do not think he can see a way out of his economic predicament unless the sanctions are relaxed. it is true their economy is partly privatized, it has become more flexible and there have been studies that have shown the price of rice and gasoline and other necessities has not gone up much in the last couple years, even as the sections have been imposed -- sanctions have been imposed, but every country wants to follow the vietnam model and attract external investment and enter the global economy in a more meaningful way
12:20 pm
and that cannot be realized under current conditions. david: to change direction to the middle east, we will call it west asia -- with saudi arabia, there is a bipartisan move in the senate with marco rubio and others to impose sanctions in saudi arabia for the murder of jamal khashoggi. is this likely going to result in substantive change or is it more for show? michael: well, i think that it is more for show, but i do not want to denigrate it. we have to send strong messages and maybe put a little bit of mind,f allah into saudi because they are used to weathering these blips in the relationship, especially after 9/11 when many of the hijackers were saudi arabian. saudi arabia could interpret that as, because the rest of the world depends on their oil so much, there is no way we will
12:21 pm
sustain our anger long. i would rather the saudis have to worry a little bit that we could find measures that are more than symbolic. they may not fundamentally dissolve the u.s. and saudi relationship, that is not realistic, neither is it necessary or appropriate, but we can do things that make them hurt a little bit and make them worry, and i applaud the senators for attempting that. david: michael, thank you very much. that is michael o'hanlon from the brookings institution. still ahead, our stock of the hour is target, up today on strong for guidance. we will go to their investor day with emma. that is next. this is bloomberg. ♪
12:22 pm
12:23 pm
david: you are watching "balance of power." i'm david westin. bucket announces fourth-quarter
12:24 pm
earnings this morning, beating earnings on same-store sales. and giving encouraging guidance going forward. we welcome not emma chandra, who no -- n emma chandraow -- w emma chandra who will bew interviewing the ceo at the top of the hour. what have you learned so far? emma: it has been very interesting. we heard from the ceo, as you mentioned, talking to analyst investors earlier this morning and he said there is no big billion dollar announcement, no huge initiative to tell you today. because, frankly the strategy is working, the strategy they set out a couple years ago including $700 billion of investment in stores and the brand. and we are doing well, executing well, the plan is to continue to scale and to mature that strategy. and he sort of really forced the message home, as well as saying
12:25 pm
that they are focused on their stores and they say it not just as stores, they see them as fulfillment centers. and they see them as community hubs. and they are trying to improve the customer experience when it comes to the stores. currently, he is speaking with other members of the media, taking questions there, but he also said they have no plans to expand outside of the u.s. the see opportunity here in u.s. into they are not planning international expansion in the near future. he also talked about the new marketplace platform, something called target plus, which will be more curated than the market places we know from walmart and amazon. and we have some questions as to why it has taken them so long to get to that. our colleague matthew asked whether their relationship with revlon had changed, given the news from revlon with their shares plunging earlier. he says the relationship has not changed. and he is also taking cautions about what he sees in the years
12:26 pm
to come, if he is concerned about an economic slowdown. he says that in the case of a slowdown, they are well positioned. david: next hour, she will be interviewing the ceo live in new york, so tune in for that. dueling investigations, the house judiciary committee has joined in the core investigations of donald trump, his campaign and of those surrounding him. we will talk with two prosecutors on how this fits together, if it does fit together. that is next. this is bloomberg. ♪
12:27 pm
12:28 pm
12:29 pm
david: this is "balance of power" of bloomberg television. i'm david westin. from bloomberg first word news we go to the mark crumpton third mark: president trump -- to mark crumpton. mark: president trump is ready
12:30 pm
to walk away from china if they do not sick or imperfect deal -- not secure imperfect deal. "if it doesn't work, we will keep banging away at it." second try mike pompeo says he is confident that the two countries will come to an agreement. crews are still searching for victims in a gold mine that collapsed a week ago. authorities are not sure how many people were in the remote mine when it caved in, because of shifting soil and a large number of holes. officials say that rocks as big as trucks fell on the miners. 16 people are confirmed dead. more than 30 states want to replace aging voting machines before the 2020 elections, but do not have enough time or money to do so, that is according to a report from nyu's law school. states received $380 million in election secured grants from congress last year, but experts say that is only a fraction of
12:31 pm
what is needed. a london man appears to be free of the virus that causes aids after stem cell transplants. this is only the second time this has happened. the therapy had early success with timothy ray brown, the u.s. man treated in germany who is 12 years post transplant and still free of hiv. the case was published online in the journal nature, and it will be presented at an hiv conference in seattle. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. david? david: thank you very much. promised, the house judiciary committee under the chairman from new york, has begun an inquiry into the trump white house with demands from scores of people around the president. the president responded forcefully, calling it the
12:32 pm
greatest overreached in the history of the country, the democrats are obstructing justice and will not get anything done. a fishing expedition in search of a crime. we want to welcome two experienced federal prosecutors, jeffrey kramer who served in chicago and is the managing director at the berkeley research group. and michael moore, who is the u.s. attorney for the middle district of georgia. he is now at the law firm of polk gamer he. let's go first to atlanta. it is not a probable cause standard, but as you hear jerry nadler looking into possible impeachment, do you see enough from what we know now to just there is reason to believe that perhaps president trump could be impeached? >> i think so. it is not a probable cause standard, but here you have a situation where we know there was a meeting with russians in trump tower, we know there was effort, at least in the public
12:33 pm
record there is evidence, that they tried to cover the meeting by little don, maybe by donald trump, we do not know yet. we know about a business operation. and they realize a lot of this could be resolved if we had the tax returns. the president has played this game for several years and has refused to give that information, so now the democrats have control of the house it is a natural tendency to move toward a place where they can find out what was going on with the trump business. at the end of the day, this will be a case, this is going to be a case about following the money. and maybe jerry nadler, since he has taken over the chairmanship of the committee, is also looking at that and whether or not there will be russian money that was run through the trump organization that may have been played into decisions that he made about sanctions or otherwise. those things can lead to allegations of collusion, conspiracy, coverups,
12:34 pm
obstruction, why was the investigation halted, why was james comey fired -- those questions could be answered. david: i have a quote from jerrold nadler. he said over the weekend, "we do not now have the evidence sorted out. before you impeach somebody you have to persuade the american at it ought tot happen." why did they start with a rifle instead of a shotgun? jeffrey: you want to follow the money. what he is doing, as well as other committees, as they bring in testimony, this is really pent-up energy, and now we see it happening. and we see a little bit of a snippet of a courtroom happening in the last interrogation of michael cohen, where he brought forth documents. that is what a prosecutor would bring forth. you see some of it. but what jerry nadler is doing
12:35 pm
is trying to get his arms around it, as are the other committees. there is so much. so much of it is atmospherics, some of it there may not be material there, and with some of it there is evidence that could be reviewed. so i do not think it is scattershot, they are trying to pick the one or two or maybe three items that might bear the most fruit. and interactions with russia, and there are many things under that umbrella, it is the meeting, the decisions that mr. trump has made, and it is certainly money that mr. trump returns and tax will answer that. developer would do is duck away from that, so tax returns could reveal a lot. david: we have not heard from robert mueller, so the question is what gets done with that report and the information behind it? is there any chance all the
12:36 pm
information would not end up in the hands of the house judiciary committee? jeffrey: there is a possibility. once the dag leaves, the new attorney general takes over the investigation, so robert mueller will give it to ag barr. he then has options. he can give a summary, he can turn the whole thing over with maybe reductions. so we will get not necessarily a snippet, but not the whole picture. then it will be upon congress to call in robert mueller and ask them questions. there are a couple lines to this. the american public will not know everything that robert mueller knows. david: what about the claim of privilege? that is being talked about. that the white house will want to say, what is in the report, because some of it may be privileged. going back to president nixon, that privilege is more narrow than we think it is, right michael? michael: it is meant to allow the president to have playing,
12:37 pm
do communications, it is not meant to be a shield to cover up criminal conduct. so the reliance on the privilege to me has been misplaced. one place we look, you look at the testimony last week from michael cohen, one of the most damaging things was the fact that the president's lorries had reviewed the testimony given to congress. if that is true, then you have significant problems with the white house legal team, maybe not with the white house counsel, but maybe with his personal lawyers. if in fact they pushed testimony, guided testimony in a way that lied to congress, as michael cohen has pled guilty to, i do not think those guys will even be able to find a job doing records for a cemetery. this will be a disaster for his legal team, the president, and it will affect his arguments. so there are a lot of moving parts. i think we will have significant
12:38 pm
developments now that we have a change with the democrats taking over the house committees. i think the doors are beginning to open. we have heard about robert mueller wrapping up his investigation, people have been saying that for months. it may be true, but i think even if the attorney general, as my colleague indicated, if the attorney general decides to keep parts of the report very secret, you do not want to have innocent people paraded around in front of the public, but if the report is kept quiet you are likely to see the committee's move forward and bring the information to the forefront. david: you make an important point, we tend to focus on is there going to be a proceeding against the president, but there are many other people around the president, that even if the case is you cannot indict a sitting president, even if that is true there are other people that could be indicted. michael: that is right. there are people in his family,
12:39 pm
his inner circle, we have already seen people charged. but there is possibility of an indictment against the president's business, against the trump organization. we know that robert mueller would oppose that. we have had this long indictment of people involved. talkuld do a rico case, about conspiracy in that case. while he would not be violating the guidance of the justice department, he would be pointing a sharp finger at the president for misconduct during operation of that business. that will be talking about where the money went, where it came from, what promises perhaps were made in exchange for getting that finance. so this will be an interesting tale. we may not have the president indicted, but you could have his son in serious jeopardy, his son in law is in serious jeopardy, and perhaps his business. david: take the other side of
12:40 pm
this for a moment, that is to say assume there is not enough to indict the president for impeachment, how do you feel as a former prosecutor about the notion of a prosecutor saying, i will not indict, but here is all the bad news about him. that has not been the way it works. jim comey, at the same time, he opened this up a little bit and maybe the republicans on the hill opened it up more in the investigation of hillary clinton how do you feel about revealing information if you are not going to indict? jeffrey: that is the juxtaposition here. as an average citizen, charges are brought, that person is not indicted, the public does not hear about that. but it is not shocking to say it is a different animal with the president. i cannot imagine anyone who would not want to know if the a couple does -- owes hundred million dollars to a russian oligarch. i think the public has a right to know about that.
12:41 pm
the most powerful man in the held, while not indicted, certainly had some things about him that may suggest split loyalties -- i think it is appropriate that i get a public airing, and that is in contrast to a normal case. this is not a normal case by any definition. david: we appreciate both of you being with us. that is jeffrey cramer coming to us from chicago, and michael moore in atlanta. we will speak with a self-professed trump intellectual on why trump is so critical of the conservative cause, that is coming up next. this is bloomberg. ♪
12:42 pm
12:43 pm
12:44 pm
david: this is "balance of power" of bloomberg television. i'm david westin. he first became known as a supporter of donald trump when no one knew his name, that is because he used the name of a roman consul that second face -- that sacrificed himself in a long-ago battle. now he is in the spotlight, a lecturer at the kirby center for constitutional studies in washington. he is also the author of a book. michael is the conversation in chief. thank you for being with us. i want to start out with a quote from your book. "th this on page, 34, way does occur equal rightse is federalism, the separation of powers, and especially limited government." is president trump following through on those?
12:45 pm
michael: i think he is following through the best he can, but the amount of opposition he is facing is higher than anything i have ever seen in my 30 years of observing politics. when i wrote the original essay that is the kernel of the new book, i used a metaphor that suggested if we do not turn things around quickly, we will lose the thing you talked about in that quote, probably forever. and the reaction to the president, the really furious reaction to take him down at all costs, block his policies, suggests i was not far wrong. i think all the trends i identified in 2016, have only really intensified in 2019, and they create headwinds for him to get anything done. he does speak for, and i think his heart is in the understanding of american
12:46 pm
12:47 pm
12:48 pm
you think about the constitution, is that appropriation of money begins in the house of representatives. yet we have a situation now with the southern border, where the president is a spending money, this is something that the representatives said no on, we will give you this much money, not that much money -- is that consistent with the separation of powers? michael: the president takes an oath to protect the american people. that is his job. he is required to do that. i would love our government to work better, the way it is supposed to work, but congress has said before, there should be a wall. rightole democratic party now and the republican party will say out of one side of their mouths, we want border security, and out of the other side, quietly, they do everything they can behind the scenes to prevent it from happening. that is identity mick that got him -- is a dynamic that got
12:49 pm
trump elected in the first place. so them telling the people one thing and doing another over and over again, people are fed up with it and they realize we are not getting what we ask for and what the politicians tell us. so there is frustration with the system and it looks to be, as the president said before, the system looks to be rigged. and no matter what people vote for or what they want, the ruling class will not let them have it. david: it is a lot of people in the country and they have a lot of different views. there is no doubt people are frustrated, but there are people on the other side who are frustrated as well. isn't this what the founders constructed, something where you needed to get together and compromise? that is why we have checks and balances. and even if the goal is a lofty goal and a noble goal and when we all agreed to, you have to compromise to get there, is that your argument, you should not
12:50 pm
have to put up with all that? michael: of course not, but nobody is willing to compromise. the political opponents of the president are not willing to compromise, they want him to lose across the board. democrats who 10 years ago were speaking firmly about border security, now the talking point of the democratic party from this bigger of the house herself is a wall is immoral, that border control is immoral. there have been people in the democratic party who have believed that for a long time, but they were a fringe of the party, and now that is the mainstream view of the party, or at least the base of the party. it is certainly the view of the leadership. but i do not think that anybody who voted for donald trump, nor anybody in the 20% of american voters who describe themselves as independents, who believe that extreme view. it is the grip that the bipartisan ruling class has, it
12:51 pm
is so strong over our politics of that even when their view is a minority, whether it commands 30% or 40% of the voting electorate, i do not know, i do not think it is above 50%, they still get their way. david: i raise this because your book is so carefully written and you really pay attention to the language, even in your answers -- from border security to wall. as i understand it, the border control, they have come up with a plan which does include some wall, but importantly includes electronics and people, it is not support a wall going all the way across. why is it in order to have border security we have to have a wall the size of the president wants? michael: maybe we do not need a wall from california to the gulf of mexico, i am sure that experts could look at that and say that there are places where a wall makes sense or other barriers make sense it is so on, but i know from experience that a lot of the people, the
12:52 pm
non-experts, the political people making those arguments are not making them to say that i am trying to solve a problem and i do not want to waste money on a difficult past section of the border, what they are really trying to do is make sure that no effective border security is enacted. as i said, listen to recent democratic rhetoric. listen to the democrats, the senior democrats running for president, which means they have to appeal to the base, listen to what they are saying in 2019. they are not talking like barack obama did, or like joe biden did a few years ago, or like bill clinton in the 1990's, they have used those arguments, the things you are talking about like border security, wall here and not there, as a way to deflect attention from what they really want, no wall at all. and they are being more and more open about that in rhetoric as they appeal to the most radical elements of their base.
12:53 pm
and that is kind of helpful in one sense. i like clarity. i have always believed a big portion of the democratic party and of the political left, that is what they believe, but they used to find better ways of hiding it. now that they are being open about it, maybe that is good for us all. david: michael, it is a very illuminating book and has been an illuminating discussion. from new york, this is bloomberg. ♪
12:54 pm
12:55 pm
rbgd: we had the notorious , now it is miller time. he has a cult following for investigating interference in the 2016 election. the face of the bund up former fbi director has been stamped on t-shirts and even action figures. now in another first, that robert mueller never imagined
12:56 pm
could happen, his likeness is showing up on the streets of new orleans. today is mardi gras. the traditional last day of excess, celebrating with rich fatty food before ash wednesday and the start of the season of reflection and fasting for some christians. and robert mueller made a special appearance of the mardi gras parade floats. the notoriously rowdy crewe stout him as a proctologist, alongside a team of fbi agents, along with michael cohen and paul manafort. a whole cast of characters letting the good times roll. stay tuned for the exclusive interview of the ceo of target, brian cornell. ♪
12:57 pm
12:58 pm
12:59 pm
mark: i'm mark crumpton with bloomberg first word days. in alabama, we are learning about the 23 people killed when a massive tornado ripped through a small community, beauregard. the coroner bill harris of the
1:00 pm
youngest victim was six, the oldest, 89. one family lost seven members. the national weather service says the twisters damage path was nearly a mile wide and was strong enough to bend the frame of a car around a tree. a storm packed winds of 170 miles per hour. the afghan television has rejected a proposal that would result in american forces being withdrawn from the war-torn nation in five years. that poses a serious setback to the efforts aimed at ending america's longest war through negotiations. foreignl group wants troops to leave the country within a year, according to two former taliban leaders. in sudan, pressure is mounting on long time autocratic president omar al-bashir to step down. the country has faced more than two months of deadly protests. today, a strike shuttered businesses and empty streets. in the capital of card


info Stream Only

Uploaded by TV Archive on