Latest / Trumponomics / Trump's Decisive Victory: What Does It Tell Us and What Comes Next?

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Trump's Decisive Victory: What Does It Tell Us and What Comes Next? · Trumponomics

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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Welcome to our twenty
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Speaker 1: twenty four US election edition of voter Nomics, the Bloomberg
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Speaker 1: podcast where politics and economics collide. All year, we've been
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Speaker 1: talking about how voters around the world have the ability
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Speaker 1: to affect markets, countries, and economies like never before. We're
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Speaker 1: going to focus on arguably the biggest of them all,
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Speaker 1: the American election. As we speak, victory has just been
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Speaker 1: called for Donald Trump. It came as he won Wisconsin.
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Speaker 1: The SMP five hundred reacted positively, did the News, as
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Speaker 1: did companies like Tesla. Donald Trump's fellow Republicans won control
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Speaker 1: of the Senate, and in every state where most votes
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Speaker 1: had been counted, Trump's performance was stronger than in twenty twenty.
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Speaker 1: So on today's Votomics, we're sharing an episode from The
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Speaker 1: Big Take podcast, Bloomberg's daily podcast, which features in depth
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Speaker 1: original reporting from around the globe. In their quick reaction
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Speaker 1: US election special, Big Take hosts Sarah Holder and Bloomberg's
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Speaker 1: Wendy Benjaminson break down how election Day played out and
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Speaker 1: get reactions from around the world, plus what we can
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Speaker 1: expect from a second Trump administration. But before all of that,
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Speaker 1: I'm a Lego Stratton and I made.
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Speaker 2: Room waldron Oge.
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Speaker 1: Did you get any sleep?
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Speaker 2: I didn't. Actually, I was very foolish because I started
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Speaker 2: just looking at my twitter feed, x feed, whatever you
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Speaker 2: want to call it, at about midnight, and that I
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Speaker 2: did a musk feed and I didn't stop, unfortunately, until
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Speaker 2: until about four point thirty five in the morning. I
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Speaker 2: just I just I just kept going because what we
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Speaker 2: were seeing in real time was a very surprising story.
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Speaker 1: Because it wasn't night Federal Quintine exactly.
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Speaker 2: I mean, we people had expect did either Harris victory
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Speaker 2: or a very very close election, which we'd still be
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Speaker 2: litigating at the moment, And what we saw was clear,
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Speaker 2: was very clear, and it was a clear Trump victory.
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Speaker 2: I don't think many pundits were expecting that at all.
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Speaker 1: And the inquest started very quickly as well, certainly in
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Speaker 1: the corresponds, I was getting around how did the left
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Speaker 1: or Democrats misjudge this, and whether or not it's worse
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Speaker 1: for them than the Hillary Clinton defeat. I mean, certainly
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Speaker 1: that sense that America wasn't yet ready for a female president,
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Speaker 1: whether or not that is the take home point in
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Speaker 1: the days ahead, but it feels that there's questions around
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Speaker 1: gender as well as questions around whether she was the
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Speaker 1: right candidate.
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Speaker 2: Yeah, we had a very peculiar sort of set of
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Speaker 2: expectations because Kamala Harris did very well in the debate
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Speaker 2: with Trump and her stocks rose, and in the last
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Speaker 2: few days before the vote, it looked as though she
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Speaker 2: was really regaining momentum, partly because of the Madison Square
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Speaker 2: Gardens absurdities, and probably because Trump seemed to be losing
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Speaker 2: a bit of his focus and flair. But clearly that
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Speaker 2: was absolutely wrong. One of the big stories of this
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Speaker 2: election is that the democratic notion of what democratic politics
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Speaker 2: is about has been exploded. They have basically been an
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Speaker 2: alliance between the educated, upper middle class elite and various
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Speaker 2: ethnic minorities. And their assumption was that they could just
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Speaker 2: keep adding ethnic minorities. They've got a big advantage with
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Speaker 2: black voters, and they could just add more and more
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Speaker 2: and more Latinos or whoever was coming in, and that's
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Speaker 2: clearly not the case. You saw Black voters voting in
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Speaker 2: surprising numbers for Trump, you saw Latino voters voting in
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Speaker 2: very surprising numbers for Trump, and Asian voters also shifting
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Speaker 2: in some significant ways. We haven't seen numbers like this since,
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Speaker 2: you know, for the Latino since since George W. Bush.
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Speaker 2: And that's as really skewered the whole way of thinking
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Speaker 2: of Democrats, because Democrats tend to think of these people
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Speaker 2: as being exploited, as being victims, as in some way
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Speaker 2: being marginal. They certainly think of the immigration issue cutting
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Speaker 2: in favor of the Democrats, and this hasn't happened. I
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Speaker 2: think it's partly because class is the overriding thing. And
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Speaker 2: I think that what the liberal elite, hyper educated, hyperwoke,
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Speaker 2: very status conscious liberal elite has done is it's basically
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Speaker 2: driven the white working class out of the Democratic coalition.
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Speaker 2: They've shifted to the Republicans. And now it's doing exactly
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Speaker 2: the same thing for ethnic minorities, slowly but very significantly.
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Speaker 1: So if we just take the helicopter view of what
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Speaker 1: this podcast why You and I and Stephanie when she's
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Speaker 1: with us, have been discussing over the last year, through
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Speaker 1: lots of ballots, lots of different elections, is this or
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Speaker 1: not since this fact that incumbents have struggled, is this
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Speaker 1: that trend playing out? Kamala Harris came in, took over
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Speaker 1: from Biden, ran very, very tight and well executed hundred
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Speaker 1: days the less probably realized too late she had to
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Speaker 1: convey that she was changed. She didn't manage to do that.
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Speaker 1: So my question is was it just she felt foul
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Speaker 1: of that tide that is beating up on the incumbent,
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Speaker 1: by which we mean the people in power they just
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Speaker 1: the electra and not feeling they're benefiting doing well enough
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Speaker 1: out of it. Or was it actually she wasn't good
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Speaker 1: enough or was it both?
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Speaker 2: I think economic discontent and inflation underlay this. People just
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Speaker 2: felt poorer and they felt angry because they felt poorer.
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Speaker 2: But there are a lot of important cultural issues as well.
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Speaker 2: There was the immigration issue that people felt that Biden
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Speaker 2: and Harris, by implication, had not taken that seriously enough.
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Speaker 2: And there's a sort of set of cultural issues that
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Speaker 2: also motivated people to sern that you might feel grumpy
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Speaker 2: and angry about inflation, but do you go to rallies
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Speaker 2: and cheer. Do you really turn out and wave banners
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Speaker 2: just because you're angry about the economy. I think Trump
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Speaker 2: was motivating a lot of resentment about the way a
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Speaker 2: very insula to the elite has been running the country
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Speaker 2: in ways that go against the opinions of large numbers
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Speaker 2: of people. So yes, underlying it all inflation and the
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Speaker 2: economy driving all of this, but we're a very rich man.
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Speaker 1: He's incredibly successful at conveying the the underdog, and it's
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Speaker 1: it's both economic, but it's also a vibe he has
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Speaker 1: that he just cuts through the blandness of the political establishment.
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Speaker 2: So you have a very sort of twee cultivated, cerebral,
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Speaker 2: rather bossy political elite out there, and you have this
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Speaker 2: vulgan we do, we do, but you have this vulgar,
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Speaker 2: boisterous man and people identify with him. They more identified
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Speaker 2: with him rather than with the Harvard yachts than in
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Speaker 2: the nineteenth century. And he's brilliant at summing up big
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Speaker 2: things in small phrases. I mean, make America great again.
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Speaker 2: It's just such a powerful thing. He's a demagogue.
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Speaker 1: Just on this question about Kamala Harris and the kind
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Speaker 1: of aloofness, did she do everything she possibly could?
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Speaker 2: I thought she was a terribly weak candidate in the
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Speaker 2: sense that she didn't really have a set of policies
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Speaker 2: and a gender. She did very well in the debate,
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Speaker 2: and then she sort of fizzled out. If you don't
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Speaker 2: present a compelling message as to why you should be
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Speaker 2: voted for, and if you don't present a set of
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Speaker 2: policies to solve people's problems, particularly the problem of the border,
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Speaker 2: then it looks as though you assume that you should
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Speaker 2: be voted for just because of the person that you are.
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Speaker 2: Now we go back to Biden. Had Biden stepped down
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Speaker 2: when he should have done, had he created an open
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Speaker 2: primary system, had the strongest democrat one, then that would
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Speaker 2: have been possible, even in difficult circumstances, for a democratic victory.
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Speaker 1: One of the things we will see in the coming
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Speaker 1: days when we do the kind of analysis of the
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Speaker 1: demographics is I think we thought and expected that women
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Speaker 1: on mass would come out for Kamala Harris across the
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Speaker 1: divide concerned about abortion rights being restricted. I wonder in
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Speaker 1: the end whether that wasn't strong enough either. You certainly
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Speaker 1: saw Kamala Harris make it front and center of many
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Speaker 1: things she did.
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Speaker 2: Absolutely. I think we will know more over the next
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Speaker 2: few days about the precise demographic makeup, but I think
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Speaker 2: Soccer Mum's women did not turn out for Harris in
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Speaker 2: the sort of numbers that we expected. Also, underneath it all.
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Speaker 2: Do people care more about that issue or do they
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Speaker 2: care more about immigration? And I think it's immigration.
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Speaker 1: When you glance at the polls and the returns on
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Speaker 1: why the things that motivated people to vote, democracy comes up,
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Speaker 1: and at first glance, the kind of complacent view is
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Speaker 1: that that favored Kamala Harris. But actually you dig deeper,
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Speaker 1: and if you've done any reporting around either America or
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Speaker 1: the UK or lots of countries, actually it does us
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Speaker 1: stand to reason that that might be something that motivated
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Speaker 1: people to vote for Trump. This sense, as you've been
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Speaker 1: talking eloquently throughout the podcast about this sense that it
9:00
Speaker 1: was sort of, you know, the establishment was a done deal,
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Speaker 1: sewn up and an impenetrable fortress that you couldn't get
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Speaker 1: into if you were normal working pass Absolutely no, there's
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Speaker 1: this extraordinary result, which was I think the number.
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Speaker 2: Two issue that people were worried about after the economy
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Speaker 2: was the state of democracy. And you think, well, that's
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Speaker 2: a very very good indicator for Harris, and then in
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Speaker 2: fact those people broke towards Trump. So you know, we
9:25
Speaker 2: in the media tend to think about January the sixth
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Speaker 2: and Trump's sort of contempt for due process. But in fact,
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Speaker 2: what a lot of people believe is that the media
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Speaker 2: is part of a cartel which tells a story to
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Speaker 2: other members of the media and doesn't really relate to
9:39
Speaker 2: ordinary people. And I think this is a huge problem
9:41
Speaker 2: for our profession that I think thirteen percent of Republicans
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Speaker 2: now believe the mainstream media, and the mainstream media quite
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Speaker 2: Franklin was in the tank for Kamala all the way
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Speaker 2: through this election. I think there's a crisis of confidence
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Speaker 2: that we have to as a profession, get out of bubble,
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Speaker 2: report on the country, on America, report on the actual
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Speaker 2: angs and Anxietism, worries about regular people, and do a
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Speaker 2: better job of reflecting what's going on out there rather
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Speaker 2: than talking to each other.
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Speaker 1: But Adrian, I mean everything you've just said, you could
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Speaker 1: have said after the Brexit vote. You could have said
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Speaker 1: after the first Trump victory. When do we learn?
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Speaker 2: And it's the corporations, the universities, the professional elite, and
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Speaker 2: they've got to reconnect with their country or we'll keep
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Speaker 2: getting these sort of surprises, not only in the United States,
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Speaker 2: but also in Europe.
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Speaker 1: Taking a step across the pond, back across the pond,
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Speaker 1: we're in London. We're in the UK reflecting on all
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Speaker 1: of this and what about the impact it has on
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Speaker 1: UK politics? Not UK politics, Actually, I think more interesting
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Speaker 1: is the economic impact. I think this morning has been
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Speaker 1: quite expensive for the government.
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Speaker 2: Absolutely. I mean I think it's all in the short term,
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Speaker 2: or in the simplest sense, it's a disaster for the
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Speaker 2: Labor Party. Because the Labor Party is interlinked with the
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Speaker 2: Democratic Party but also very hostile to Trump.
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Speaker 1: People have been speculating there might be a star a reshuffler.
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Speaker 2: Yeah, I would have thought so. I think it's very
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Speaker 2: difficult to keep this current position in place. But also
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Speaker 2: we're interlinked economies. We're going to get a big economic
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Speaker 2: boom in the United States, lower corporation tax, lower personal tax.
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Speaker 2: I think a lot of talent will shift from this country,
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Speaker 2: which is being more and more heavily taxed, to the
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Speaker 2: United States. So that to Trump world.
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Speaker 1: It is the case that Labor has pledged to spend
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Speaker 1: more on defense, but that number wasn't actually in last
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Speaker 1: week's budget, And when you look at last week's budget
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Speaker 1: and how her head room was reduced in it, it's
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Speaker 1: hard to see that she has much room for maneuver well.
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Speaker 2: I think there's a bigger European problem over the defense
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Speaker 2: because Europe as a whole has to face the fact
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Speaker 2: that it is in hawk to Trump to defend it.
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Speaker 2: That Trump is not a stable or predictable or reliable ally,
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Speaker 2: And I think that Europe and Britain will have to
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Speaker 2: get closer and closer together. They'll have to put aside
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Speaker 2: their quarrels and really deal with this defense isship. Whatever
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Speaker 2: Trump does, and I think there is a big set
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Speaker 2: of variables in what Trump does, we can't presume that
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Speaker 2: you'll do so.
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Speaker 1: At the last time round, internationally, there was some softening
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Speaker 1: of his joy. They say things to get into power.
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Speaker 2: And he likes to say very extravagant and provocative things.
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Speaker 2: But nevertheless, even if he's not as radical as he
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Speaker 2: claims he is, can we continue to be in hock
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Speaker 2: to a country that's so unpredictable.
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Speaker 1: Well, we're going to pick up on a lot of
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Speaker 1: these themes in a special edition we're going to do
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Speaker 1: next week to close the year of these elections that
12:32
Speaker 1: we have been covering in depth, and we look forward
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Speaker 1: to hearing from Steph again. Steph right now is I
12:38
Speaker 1: don't know, recovering retreating from a spin room somewhere anyway,
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Speaker 1: Now on to the rest of the show. This is
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Speaker 1: our Big Take special podcast on the American election.
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Speaker 3: At around two thirty on Wednesday morning, Donald Trump took
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Speaker 3: the stage at his campaign headquarters in mar A Lago
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Speaker 3: to claim victory in the US presidential election.
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Speaker 4: Look what happened?
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Speaker 5: Is this crazy?
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Speaker 4: But it's a political victory that our country has never
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Speaker 4: seen before, nothing like this. I want to thank the
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Speaker 4: American people for the extraordinary honor of being elected your
13:27
Speaker 4: forty seventh president, and you're forty fifth president.
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Speaker 3: Earlier, as the campaign watch party for Vice President Kamala
13:34
Speaker 3: Harris wound down at her alma mater, Howard University, her
13:38
Speaker 3: campaign co chair Cedric Richmond, briefly addressed the crowd.
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Speaker 4: So you won't hear from the Vice president tonight, but
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Speaker 4: you will hear from her tomorrow.
13:51
Speaker 3: When Trump spoke alongside his family, in her circle and
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Speaker 3: running mate JD. Vance, he'd already secured two hundred and
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Speaker 3: sixty seven of the two hundred and seventy Electoral College
14:02
Speaker 3: votes he needed, clinching wins in the key battleground states
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Speaker 3: of Georgia, North Carolina, and Pennsylvania. And at five thirty am,
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Speaker 3: Trump was declared the projected winner of Wisconsin's ten electoral
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Speaker 3: College votes, bringing his total to two hundred and seventy seven.
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Speaker 3: As the results came into focus, markets reacted and the
14:23
Speaker 3: so called Trump trade searched. Bitcoin spiked, the dollar posted
14:29
Speaker 3: its biggest gain against major currencies since twenty twenty, clean
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Speaker 3: energy took a hit, and Treasury bonds humbled. Today on
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Speaker 3: the show how Election Day played out, reactions from around
14:45
Speaker 3: the world, and what we can expect from a second
14:48
Speaker 3: Trump term, I'm Sarah Holder, and this is the big
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Speaker 3: take from Bloomberg News. It's four am in walk Washington,
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Speaker 3: d C. I'm joined by Bloomberg Senior Washington editor Wendy Benjaminson. So, Wendy,
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Speaker 3: for people waking up today and catching up what happened overnight.
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Speaker 5: Donald Trump has won the presidency. It was not as
15:14
Speaker 5: close as we expected it to be.
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Speaker 3: Well, Wendy, how does this year's Trump win compared to
15:19
Speaker 3: his path to victory in twenty sixteen.
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Speaker 5: Well, it's not that dissimilar. He took all of the South,
15:28
Speaker 5: he took a large swath of the Midwest, the Plain States,
15:34
Speaker 5: and this time again he managed to break through that
15:39
Speaker 5: so called blue wall. I think we're going to have
15:41
Speaker 5: to rename that now because in twenty sixteen, Hillary Clinton
15:46
Speaker 5: failed to get all of the Pennsylvania, Michigan, Wisconsin, that
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Speaker 5: industrial blue wall the Democrats have to win, and it
15:54
Speaker 5: appears that Donald Trump succeeded in that blue wall.
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Speaker 3: What was Trump to do this campaign cycle that he
16:02
Speaker 3: failed to do in twenty twenty.
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Speaker 5: Well, this is one of those weird Donald Trump can
16:07
Speaker 5: get away with stuff sort of elections. He fared far
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Speaker 5: better with Hispanic voters than he did in twenty sixteen
16:15
Speaker 5: or twenty twenty. And remember, in twenty sixteen, one of
16:18
Speaker 5: his famous lines was Mexico is sending us their criminals
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Speaker 5: and rapists, and a lot of Hispanic voters took events
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Speaker 5: to that. The Sunday before October twenty seventh, he held
16:30
Speaker 5: a rally of Madison Square Garden where a comedian called
16:32
Speaker 5: Puerto Rico a floating island of garbage. And yet he
16:36
Speaker 5: fared far better, according to exit polls with Latino voters
16:40
Speaker 5: than he ever has.
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Speaker 3: That didn't seem to matter in the way that people
16:43
Speaker 3: thought it might.
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Speaker 5: Right, And remember Donald Trump also won this time against
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Speaker 5: twenty sixteen with thirty four felony convictions, a civil claim
16:56
Speaker 5: holding him responsible for rape, appointing Supreme or justices who
17:00
Speaker 5: overturned Roe versus Wade, and a number of other comments
17:05
Speaker 5: that he's made or proposals that he has put forward
17:08
Speaker 5: that seem anathema to most Americans. And yet here we are,
17:13
Speaker 5: and while the gender gap and reproductive rights were the
17:17
Speaker 5: issues that were going to push her over the top,
17:21
Speaker 5: it failed to materialize against the popular support that Donald
17:25
Speaker 5: Trump seems to have had.
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Speaker 3: You mentioned some of these issues that didn't seem to
17:29
Speaker 3: face voters when it came to Donald Trump. But let's
17:31
Speaker 3: talk about some of the issues that did decide this election.
17:34
Speaker 3: We've been talking all election season about the polls, including
17:37
Speaker 3: the Bloomberg News Morning Consult polls that showed that voters
17:40
Speaker 3: considered the economy their number one issue. Abortion also ranked
17:44
Speaker 3: highly immigration. What do we know at this point about
17:48
Speaker 3: how those issues specifically impacted the results we saw tonight?
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Speaker 5: Donald Trump he pinned the economy, the post COVID economy,
17:57
Speaker 5: even though it has recovered by all all measures. He
18:03
Speaker 5: pinned that on Joe Biden and by extension, Kamala Harris.
18:06
Speaker 5: He kept doing that over and over again, even though
18:10
Speaker 5: his rhetoric on immigration was authoritarian, talking about deporting millions
18:15
Speaker 5: of people, closing the border, building the wall, all those
18:18
Speaker 5: sort of things. Voters want a secure border, and he
18:23
Speaker 5: talked about it constantly, even down to the falsehoods about
18:29
Speaker 5: Haitian immigrants eating cats in Springfield, Ohio. It all spoke
18:33
Speaker 5: to voters deep fears about the other. In quotes coming in,
18:38
Speaker 5: Kamala Harris talked a little about immigration, saying that she
18:43
Speaker 5: would sign the bill that Donald Trump killed last year
18:47
Speaker 5: in Congress. She talked about a caring economy and opportunity economy.
18:52
Speaker 5: But a lot of the time the Democrats focused on
18:56
Speaker 5: just how awful Donald Trump is, and people who think
19:00
Speaker 5: he's awful already think he's awful the people. Then there
19:03
Speaker 5: are people who think he's an awful person, but they
19:06
Speaker 5: like his policies. And then there's the people who actually
19:09
Speaker 5: don't think he's awful. Donald Trump is awful is now
19:13
Speaker 5: a proven two time losing strategy, And yet the Democrats
19:18
Speaker 5: kept doing that over and over again.
19:21
Speaker 3: And here we are, well, what about Trump's economic policies
19:24
Speaker 3: attracted voters and how much are we going to see
19:27
Speaker 3: the results.
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Speaker 5: Well, that's going to be the big question, Sarah, because
19:31
Speaker 5: his economic policies he promised to offer. He offered so
19:36
Speaker 5: many tax cuts that if every single one of them
19:39
Speaker 5: were enacted, I'm not even sure the US government could
19:42
Speaker 5: function because there just wouldn't be enough money coming in.
19:46
Speaker 5: So some of those will be enacted, but it couldn't
19:49
Speaker 5: be all of them. The tariffs he is proposing, placing
19:53
Speaker 5: sixty percent tariffs or more on imports from China that
19:58
Speaker 5: many economists say is going to raise prices for consumers.
20:02
Speaker 5: And his immigration policy if he carries out the deportation
20:07
Speaker 5: of twelve million undocumented workers in this country, an undertaking
20:13
Speaker 5: that I don't even know how something like that works
20:16
Speaker 5: or how long it would take. Nevertheless, that is going
20:19
Speaker 5: to put a huge hole in the construction industry, in
20:24
Speaker 5: the agricultural industry, and could possibly hurt the American economy.
20:28
Speaker 5: So we'll see how popular these ideas are after he
20:33
Speaker 5: begins to enact them.
20:34
Speaker 3: Well, despite these long term concerns, and even before some
20:38
Speaker 3: of these key states we're talking about were called, we
20:41
Speaker 3: saw markets responding to Trump's lead. How did they respond well?
20:46
Speaker 5: The dollar got stronger overnight in preparation for these tariffs
20:51
Speaker 5: to be enacted. It's very good news for bitcoin. He's
20:55
Speaker 5: a huge supporter of crypto, and a number of markets
20:59
Speaker 5: rose and anticipation of certainty. I think it is not
21:03
Speaker 5: necessarily that they are happy Donald Trump won. It's they
21:06
Speaker 5: know who the president is and they are reacting to them.
21:11
Speaker 3: After the break will dig deeper into the Trump campaign
21:14
Speaker 3: promises that could become the administration's policies and what it
21:19
Speaker 3: all means for the global economy. Wendy What if Donald
21:30
Speaker 3: Trump's promises on the campaign trail told us about what
21:34
Speaker 3: his next administration is likely to prioritize in office.
21:39
Speaker 5: His priorities will certainly be the economy and immigration first
21:42
Speaker 5: and foremost. The difference this time is that in twenty sixteen,
21:47
Speaker 5: a lot of traditional Republicans, because that was the only
21:50
Speaker 5: kind there was in twenty sixteen, joined his cabinet, joined
21:53
Speaker 5: his administration because they wanted to show this newcomer how
21:59
Speaker 5: government works and set up some guard rails for some
22:02
Speaker 5: of his more outlandish ideas. That's not happening this time.
22:07
Speaker 5: This time, he is going to be surrounded by people
22:09
Speaker 5: who are loyal to him. Loyal to him is the keyword,
22:13
Speaker 5: not the Constitution, the rule of law, things like that.
22:17
Speaker 5: So I think there is some fear out there about
22:19
Speaker 5: the disappearing of the guard rails that were there in
22:22
Speaker 5: his first term.
22:23
Speaker 3: What do tonight's results say about the future of abortion
22:27
Speaker 3: access in this country?
22:29
Speaker 5: Well, it is certainly now a state's issue. There is
22:32
Speaker 5: not enough Democrats or pro reproductive rights members of Congress
22:36
Speaker 5: to codify Roe Versus Way to put abortion rights back
22:40
Speaker 5: into law, and so the Supreme Court decision to send
22:44
Speaker 5: it to the states and have a patchwork of laws
22:46
Speaker 5: all over the country seems to be now the way
22:50
Speaker 5: it is. Remember also that there are still two Supreme
22:54
Speaker 5: Court justices who are nearing the age at which they
22:58
Speaker 5: might retire or pass on, and Donald Trump will have
23:04
Speaker 5: an opportunity with a Republican Senate, at least for the
23:08
Speaker 5: first two years, to appoint two more conservative justices on
23:14
Speaker 5: the Supreme Court, which would of course make the Supreme
23:18
Speaker 5: Court one of the most conservative in US history.
23:21
Speaker 3: So if Republicans do maintain control of both chambers of
23:25
Speaker 3: Congress and the Presidency, what will it mean for US
23:28
Speaker 3: spending on geopolitical conflicts like the war in Ukraine or
23:32
Speaker 3: in the Middle East.
23:33
Speaker 5: Well, the Ukrainian President Vladimir Lensky put out a statement
23:37
Speaker 5: this morning congratulating Trump and looking forward to his decisive leadership,
23:42
Speaker 5: and that was the right thing to say. Diplomatically, Donald
23:45
Speaker 5: Trump is very much into making deals. He wants to
23:49
Speaker 5: make a deal with Putin. He wants Putin and Zelenski
23:52
Speaker 5: to come to a table and come to terms. Those
23:55
Speaker 5: terms would end up probably being more favorable to Russia
23:59
Speaker 5: than to Ukraine, and the US would no longer support
24:03
Speaker 5: Ukraine and its fight against the invasion. It is also
24:06
Speaker 5: extremely good news for Israeli Prime Minister Benjamin net Niyaho.
24:10
Speaker 5: Kamala Harris had at least suggested some interest in the
24:15
Speaker 5: humanitarian crisis going on in Gaza, and what former President
24:19
Speaker 5: Trump has said is that bb Netanyaho's nickname Bib, needs
24:25
Speaker 5: to finish the job in Gaza. And so despite the
24:29
Speaker 5: fact that I think he got more Arab American support
24:31
Speaker 5: than one would have suspected, I think this is a
24:34
Speaker 5: very good day for Putin and Netanyahu.
24:40
Speaker 3: This is the big take from Bloomberg News. I'm Sarah Holder.
24:44
Speaker 3: This episode was produced by David Fox, Thomas lou and
24:47
Speaker 3: Julia Press. It was edited by Aaron Edwards and Wendy Benjaminson.
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Speaker 3: This episode was mixed by Alex Zuguia. It was fact
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Speaker 3: checked by Thomas Lou, Julia Press, and Jessica Beck. Our
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Speaker 3: senior producer is Taomi Shavin. Our senior editor is Elizabeth Ponso.
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Speaker 3: Our executive producer is Nicole beemster Boor. Sage Bauman is
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