Latest / Bloomberg Intelligence / CUNY's Brown: 'Messiness, Reconciliation' at Conventions(Audio)
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- 0:03Speaker 1: Broadcasting live to New York, Boolberg even to Washington, d C,
- 0:07Speaker 1: bloom to Boston, BLUEMBERG twelve D to San Francisco, Bloomberg
- 0:13Speaker 1: nine to the country. She is exam General one nine
- 0:16Speaker 1: and around the globe the Bloomberg Radio plus Appen Bloomberg
- 0:20Speaker 1: dot com. This is taking stock. I'm cathing Hayes along
- 0:24Speaker 1: with Pim Fox. It's not just about watching the feder Reserve.
- 0:28Speaker 1: This week, traders investors in the United States and actually
- 0:31Speaker 1: around the world are watching the Democratic National Convention, where
- 0:34Speaker 1: the opening yesterday in Philadelphia saw Hillary Clinton booed every
- 0:40Speaker 1: time her name was mentioned. She was boot though by
- 0:43Speaker 1: supporters of Bernie Sanders. PIM, We're gonna be looking about
- 0:46Speaker 1: what's going on there and the difficulties she may have
- 0:48Speaker 1: and pulling the party together. Now, yes, we'll also be
- 0:51Speaker 1: talking about the video game industry in the United States.
- 0:54Speaker 1: It is worth more than twenty three billion dollars. Are
- 0:57Speaker 1: talking PlayStation xbox. We're gonna get all the details right now.
- 1:00Speaker 1: Let's get details from Charlie Pellert and the Bloomberg News,
- 1:02Speaker 1: from the Bloomboog Bloomberg Business Flag and I thank you
- 1:05Speaker 1: very much, PIM, thank you. Kathleen Hayes a mixed picture
- 1:08Speaker 1: for US equities, A little change right now in the SMP,
- 1:11Speaker 1: fluctuating between gains and losses. It is down by less
- 1:15Speaker 1: than half a point down, Industrials down twenty eight A
- 1:18Speaker 1: dropped there of two tents of one percent, nes stank
- 1:20Speaker 1: of eight a game of two tents of one percent.
- 1:24Speaker 1: Got a trading halt now on shares of analog devices
- 1:27Speaker 1: and also linear technology. People familiar with the matters say
- 1:31Speaker 1: Analog is in advanced talks to acquire linear technology. Leco
- 1:35Speaker 1: Global acquiring Visio for two billion is the Chinese technology
- 1:39Speaker 1: conglomerate expands further in the US Visio as a maker
- 1:43Speaker 1: of inexpensive flat screen TVs. Earnings News Twitter after the
- 1:47Speaker 1: bell down one point seven percent, also reporting Apple it
- 1:52Speaker 1: is down eight tens of one percent. Tom Giles is
- 1:54Speaker 1: Bloomberg's executive editor for Technology. It's really hard to really
- 1:59Speaker 1: move the needle a company as large as Apple. We
- 2:02Speaker 1: hear a lot of talk about a TV product, but
- 2:04Speaker 1: they have a lot of problems getting all of the
- 2:06Speaker 1: different content providers behind that product. We hear a lot
- 2:09Speaker 1: about the car product that's not going to come along
- 2:13Speaker 1: for a long time, and when it does, how game
- 2:16Speaker 1: changing can it really be? So you do have Apple
- 2:18Speaker 1: coming in and doing things like returning cash to shareholders,
- 2:22Speaker 1: issuing dividends, acting like one of these comp like an
- 2:25Speaker 1: older company that's not high growth. Gold up ninety cents,
- 2:29Speaker 1: the gain of point one percent, Unce crude oil forty two,
- 2:33Speaker 1: Natia barrel for West Texas intermediate crude down twenty three
- 2:36Speaker 1: cents to drop there of point five percent, and a
- 2:40Speaker 1: three thirty two on Wall Street. Now we'll look at
- 2:42Speaker 1: the other stories making news. Thank you, Charlie from the
- 2:46Speaker 1: Bloomberg Newsroom. I'm Jill Schneider. This news update is brought
- 2:49Speaker 1: to you by the Jeep Grand Cherokee, the most awarded
- 2:52Speaker 1: suv ever. The Grand Cherokee continues to raise the bar
- 2:55Speaker 1: with its luxurious interior and legendary four by four capability.
- 3:00Speaker 1: I wanted your local Jeep dealer today. Vermont Senator Bernie
- 3:03Speaker 1: Sanders says he empathizes with young people who feel disappointed
- 3:07Speaker 1: after the results of the Democratic primary. Sanders spoke at
- 3:10Speaker 1: a Bloomberg Politics breakfast in Philadelphia this morning. I think
- 3:14Speaker 1: that Donald Trump is a danger to this country. I
- 3:18Speaker 1: think he's a demagogue. I think that it's not just
- 3:22Speaker 1: me who talked to some of his conservative Republican colleagues
- 3:26Speaker 1: who will tell you that they've perceived that he does
- 3:29Speaker 1: not understand the Constitution of the United States. Republican presidential
- 3:33Speaker 1: nominee Donald Trump says he has a ten point plan
- 3:36Speaker 1: to clean up the Veterans Affairs Department. Trump gave details
- 3:39Speaker 1: while speaking at the VFW National Convention in Charlotte, North Carolina. Today,
- 3:44Speaker 1: I'm going to use every lawful authority to remove and
- 3:49Speaker 1: discipline Federal employees are managers who reach their public trust.
- 3:55Speaker 1: Tim Kaine's wife has resigned as Virginia's Secretary of Education
- 3:59Speaker 1: and Holding, stepped down from the cabinet level post because
- 4:02Speaker 1: her husband has been picked to be Hillary Clinton's running mate.
- 4:05Speaker 1: Atlantic City plans to cover its upcoming bond payments even
- 4:09Speaker 1: though it has yet to receive a promised bridge loan
- 4:11Speaker 1: from New Jersey Ba's, according to the mayor's chief of staff,
- 4:14Speaker 1: who says the city has every intention of meeting all
- 4:17Speaker 1: financial obligations. This week, Global News twenty four hours a day,
- 4:21Speaker 1: powered by more than journalists and analysts in more than
- 4:25Speaker 1: one twenty countries. I'm Jill Schneider. This is Bloomberg, Charlie,
- 4:30Speaker 1: and we are brought to by National Realty Providers of
- 4:34Speaker 1: one hundred percent satisfaction guaranteed New York City realty investments.
- 4:39Speaker 1: See them at n r I, a dot net recapping stocks,
- 4:43Speaker 1: little change Desk and P five hundred indext down half
- 4:46Speaker 1: a point. I'm Charlie Peloton. That's a Bloomberg business flash.
- 4:50Speaker 1: This is taking stock with Pim Fox and Kathleen Hayes
- 4:54Speaker 1: on Bloomberg Radio. At the Democratic National Convention this evening,
- 4:59Speaker 1: form President Bill Clinton will officially nominate Hillary Clinton to
- 5:04Speaker 1: be the Democratic presidential candidate. Here to tell us more
- 5:07Speaker 1: as Heath Brown Assistant Professor of Public Policy at John
- 5:11Speaker 1: Jay College of Criminal Justice and the Graduate Center. He
- 5:14Speaker 1: is also the author of Pay to Play Politics, How
- 5:18Speaker 1: Money Defines the American Democracy. Heath Brown tell us about
- 5:24Speaker 1: the speakers at tonight's uh scheduled convention and what that
- 5:29Speaker 1: tells you about the effort of the Democrats to get
- 5:32Speaker 1: out the vote. Yeah. I think there's so many interesting
- 5:35Speaker 1: things that will see tonight that build off of what
- 5:38Speaker 1: we saw Monday night, highlighted by the participation of some
- 5:44Speaker 1: of the most visible political figures of the last number
- 5:47Speaker 1: of years, including the former president Bill Clinton. I think
- 5:50Speaker 1: that what we're going to see is the way in
- 5:53Speaker 1: which those figures can help to start to move the
- 5:56Speaker 1: campaign from the phase that we've been in, which is
- 5:59Speaker 1: choosing the candidate, to starting to turn out the vote.
- 6:02Speaker 1: And sometimes that's done with the motivation that comes from
- 6:06Speaker 1: seeing people like Bill Clinton and some of these other
- 6:09Speaker 1: very visible leaders take the stage and announce how they
- 6:13Speaker 1: see this election and why they see it as so important.
- 6:15Speaker 1: So I think that's some of what will see tonight.
- 6:18Speaker 1: M hmm. Well, I'm sure they want to ignore the
- 6:21Speaker 1: wiki leaks, uh leak on all the email from UH
- 6:27Speaker 1: in d n C. Now, of course w Wasser and
- 6:29Speaker 1: Schultz has stepped down as the head of the d
- 6:33Speaker 1: n C. But uh, to what extent does that somehow
- 6:36Speaker 1: have to be dealt with? To what extent does it
- 6:38Speaker 1: sort of linger? Um? And is it best just to
- 6:42Speaker 1: ignore it? Move on? Get Bernie Sanders supporters to your
- 6:44Speaker 1: supporters to not boo and Hillary Clinton's names mentioned? Um?
- 6:48Speaker 1: How do they deal with that part of it? Yeah?
- 6:50Speaker 1: I think what we're learning is conventions are not always tidy,
- 6:54Speaker 1: but they certainly can be exhilarating, and I think we
- 6:57Speaker 1: saw that demonstrated on Monday with the untidiness of the
- 7:02Speaker 1: afternoon and in the exhilaration of the first ladies. Can
- 7:05Speaker 1: I just champion there though, because they're reporting The media
- 7:08Speaker 1: reported on their Republican National Convention bedlam when there there
- 7:11Speaker 1: was a role call vote that was overwritten, and I
- 7:13Speaker 1: thought to myself, doesn't anybody watch political conventions? I mean,
- 7:16Speaker 1: to me, it is exciting. It's interesting to see in
- 7:18Speaker 1: a way the discord in a and in both parties,
- 7:21Speaker 1: some real, active, active actions. That's I couldn't agree more.
- 7:26Speaker 1: I think think what we're what we saw last week
- 7:28Speaker 1: and what we're seeing this week is the Democratic Party
- 7:31Speaker 1: and the Republican Party last week trying to reconcile all
- 7:35Speaker 1: sorts of internal conflicts over the chosen candidate and also
- 7:40Speaker 1: policy in real time on television. I think this shows
- 7:44Speaker 1: us a side of politics that we don't often get
- 7:46Speaker 1: to see, which is some of these disagreements. I think
- 7:49Speaker 1: this is one of the reasons why I think simply
- 7:51Speaker 1: watching these conventions is good for our democracy, even if
- 7:55Speaker 1: they're not exactly they don't play out in the scripted
- 7:58Speaker 1: way that we have come to a spect of political event.
- 8:01Speaker 1: I think those disagreements that that you're just you just
- 8:04Speaker 1: described make conventions a very very interesting part of the election,
- 8:10Speaker 1: and they they the messiness and the reconciliation of the differences,
- 8:15Speaker 1: including things like the wicked LEAs emails, is exactly what
- 8:19Speaker 1: makes them so very interesting. To the appearance of speakers
- 8:23Speaker 1: such as us a senator from New York, a Democrat,
- 8:27Speaker 1: Chuck Schumer, as well as former Secretary of State Madeline Albright,
- 8:31Speaker 1: a video message from a video message from former President
- 8:35Speaker 1: Jimmy Carter, and then I believe also an introduction by
- 8:39Speaker 1: Meryl Street. This is designed to give people in a sense,
- 8:42Speaker 1: speaking lines when they go out and try to get
- 8:45Speaker 1: people to the polls. Yeah, I think that's so interesting
- 8:48Speaker 1: in some ways. I think what we see at the
- 8:49Speaker 1: convention is the the largest and most visible focus group
- 8:53Speaker 1: that a party can hold. And so they know they've
- 8:56Speaker 1: got a number of months before their election and they
- 8:58Speaker 1: have to do political advertise eismans, and they have to
- 9:00Speaker 1: write stump speeches, they have to create the content of
- 9:04Speaker 1: their argument to the American people. They have this opportunity
- 9:08Speaker 1: to try out lots of different lines, different angles of attack,
- 9:13Speaker 1: different images that they might want to put put into
- 9:16Speaker 1: those ads, and I think we see that we've even
- 9:18Speaker 1: testing it with the amount of applause that comes from
- 9:21Speaker 1: the convening, from the reaction on social media, from the
- 9:25Speaker 1: response of pundit, and I think that for that reason,
- 9:29Speaker 1: exactly what you suggest is right. We see what might
- 9:32Speaker 1: work and might what might ring flat, and over the
- 9:36Speaker 1: next couple of months, we'll see that replayed numerous times
- 9:39Speaker 1: as the actual candidates go out onto the stump trying
- 9:43Speaker 1: to win votes. You entwers have made my question, Heath,
- 9:45Speaker 1: we saw Donald Trump getting a post convention bounds, moving
- 9:48Speaker 1: ahead of a CNN pull the last couple of days
- 9:50Speaker 1: for each candidate, what is the number one issue that
- 9:53Speaker 1: they are going to hammer on to be the one
- 9:56Speaker 1: that wins the race in November. Well, I think it's
- 9:59Speaker 1: really two too early to see that, but I think
- 10:01Speaker 1: in the convention, in the convention this week, we see
- 10:04Speaker 1: the Democrats starting to play a couple of these out.
- 10:06Speaker 1: I think that the repetition of the video and the
- 10:11Speaker 1: image of Donald Trump apparently making fun of a reporter
- 10:16Speaker 1: during the campaign is something that seems to be uh
- 10:19Speaker 1: an issue and an angle that the Democrats appear to
- 10:23Speaker 1: care about. And I think one of the interesting angle
- 10:27Speaker 1: aspects of that is that this connects to another thing
- 10:30Speaker 1: that was going on last night and we'll go on
- 10:32Speaker 1: again today, which is the Democrat taking credit for some
- 10:35Speaker 1: of their policy victories, like the Individuals with Disabilities Education Act.
- 10:40Speaker 1: That's something I think they're going to hit back on it.
- 10:42Speaker 1: Keith Brown, thank you so much for joining us, Assistant
- 10:45Speaker 1: Professor of Public Policy at the City University of New York.
- 10:48Speaker 1: That's tuney looking at the Democratic National Convention for US today.
- 10:52Speaker 1: I'm Caffeine Haslam with PM Fox. Is this taking Stock
- 10:55Speaker 1: on Bloomberg Radio? And this is Bloomberg coming up on
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