President Biden, Stone Court Capital, Biden discussed on Bloomberg Daybreak Asia


Being said, his major accomplishments short of just a couple that he's done just recently through reconciliation have really been bipartisan accomplishments. This massive bill for infrastructure was done with Republicans and Democrats in lockstep. And many other legislative achievements he's been able to get through. So he avoids wedge politics. That's who he is, but I think that's been disappointing to many Democrats who actually want to impose accountability on these manga Republicans, right? They want to prosecute these guys. They don't want to put a handout for them. And so I do think he's running a little bit counter to his own party's interests who sort of got a little bit of taste of victory with his election and would like to put the Republicans on the trash heap of history. I had a near open to see whether or not he would say anything along the lines of a conservative Supreme Court, that didn't happen. Talk to me, Rick about the timing. Is he setting the stage for another term? Is it too early for that to happen? Is this more about the midterms? He's got the wind at his back right now. Yeah, he's got the wind in his back. I think Democrats have convinced themselves that they've got a shot at maybe even leveling the playing field in the house and winning the Senate and there's good reason for that, right? They're pulling data looks good. They've had these great legislative achievements. And so this is, I think, purely focused on trying to get a ticket through the midterm elections and hold on to power because they know if that house flips to the Republicans and it doesn't matter by one vote or a hundred votes, then their legislative agenda is gone. They'll be not able to implement anything. It'll turn into all kinds of investigations by Republicans, and it'll be chaos. And that will not be good for Biden to think through a second term, right? And so this buys him an option if he's able to find success in the midterm elections. And this was all about what are the stakes of the midterms, the stakes are. You can descend in a darkness through the manga Republican agenda, or you can stick with me and see these great things I've achieved and we can continue to do it together. Just briefly in 20 seconds, so it sounded like a few moments ago that you were suggesting that the insurrectionists should not be hauled into court. Well, I mean, you'll notice he didn't say much about any of the legal activity, right? I mean, he clearly put the maga Republicans on extreme list. You know, he didn't take the language on fascism that we heard from him earlier. I don't think there's any doubt that the party and his administration would like to see people who have violated the law, whether it's the president of the United States or people who broke into the capitol to be prosecuted. But he's done a good job, I think, as president of staying out of the legal fray and preserving his options for the future. Yeah, that's respecting the constitution and the rule of law, I suppose. Anyway, Rick, thanks very much, Rick Davis, Bloomberg, politics, contributor, and partner at stone court capital. The time is 34 minutes past the hour. Let's get a check on the markets with Doug. Hey, so we're looking at kind of a mixed picture on early going across the apac region, a little bit of weakness coming through in Japan, Brian, and that yen now showing a little bit of strength we are on the weak side of one 40 here at one 39 90 thereabouts, strengthening against the greenback of around two tenths of 1%. The big event is tomorrow morning 8 30 a.m. Wall Street time. That's when we get the July employment report. Today we had some upbeat economic news and as a result of that yields pushed up across the US Treasury curve, particularly at the long end where the ten year right now at three 25, we were up about 6 basis points in New York trading. The dollar rallied quite a bit. We had the Bloomberg dollar spot index setting a record high. We were up around 7 tenths of 1%. The dollar showing a little bit of weakness now as the yen strengthens. Crude oil recovering, we had a great deal of weakness in New York trading. We were down more than 3%. A lot of the market psychology is really been dominated by worries over a week to mad, especially if you consider the lockdown in the Chinese megacity of Chengdu, WTI right now is at 87 66. Again, the nikkei weaker by about to two tenths of 1%, this pullback being led by energy, although as I just mentioned, oil is now recovering, insult the Cosby rising three tenths of 1% and in Sydney. We have the ASX 200 down about two tenths of 1%. We'll have more on markets in about 15 minutes, Brian. All right, the time is just about 36 minutes past the hour. It's time for a global news. While we've just been listening to President Biden asking Americans to reject political violence and maga Republicans and that the U.S. should be a Beacon of hope both domestically and internationally. For more let's get to the newsroom and Bloomberg's Denise Pellegrini Denise. That's right, Brian, and President Biden making that appeal from independence hall as we've been talking about in Philadelphia. Too much of what's happening in our country today is not normal. Donald Trump and the Republicans represent an extremism that threatens the very foundations of our republic. Now, I want to be very clear, very clear up front Not every Republican, not even a majority Republicans are mega Republicans. Not every Republican embraces their extreme ideology. I know, because I've been able to work with these mainstream Republicans. But there's no question that the Republican Party today is dominated driven intimidated by Donald Trump on the Republicans. And that is a threat to this country. And Biden also touting his progress on infrastructure, prescription drugs, gun safety, climate change, and encouraging people to get out and vote, vote, vote. Meantime we're hearing that Biden has not been briefed on the Department of Justice's latest filing on the classified documents found at Mar-a-Lago, White House press secretary karine Jean Pierre says The White House won't be discussing this matter either. We are just not going to comment on the investigation. Anything any underlying pieces of the investigation, any content of the investigation. In the meantime, no immediate ruling from that judge in Florida today on former president Trump's request for a special master to review those documents. Retired New York City police officer Thomas Webster has been sentenced to ten years in prison for attacking the U.S. capitol, and former president Trump meantime promising full pardons and a government apology for rioters if he is elected president again. Meantime, a Wall Street Journal poll says independence are now tilting toward Democrats in the upcoming midterm elections. That may have been President Biden's audience, as we've been talking about when he addressed that crowd in Philadelphia, just a few minutes ago. We clogged military exercises between India and Russia underway John Kirby National Security Council coordinator for a strategic communications calling it very troubling for the U.S. every nation has to make their own decisions that India's got to make its own decisions about its bilateral relations with other countries and certainly that countries that it's going to exercise militarily with. And Kirby unbalanced power there. Hong Kong targeting an end to hotel quarantines in November that were in place because of COVID and the head of the CDC backing Pfizer and Moderna omicron variant COVID vaccines those new shots could be in people's arms starting next week. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 cut trees. In the news reminded east Pellegrini, this is Bloomberg, Brian. Denise, thanks very much 38 minutes past the hour it's time for sports. Dan

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