Tier levels of candidates include senator Kamala Harris from california. She will look to have one of those breakout night to try to continue her momentum into the top tier. Miami, i can type a lot of folks from other campaigns are talking about bullying castro are talking about julian castro, the former hud secretary who went headtohead on immigration policy with beto orourke. Elizabeth warren laying out her Economic Vision for the Democratic Party and for the country. She attacked not just President Trump but big tech, big business, and big pharma. David i want to come back to you on that subject. First, lets turn to erik on capitol hill. Were all mindful of what is going on the southern border. We have a bill from the house in the senate for emerging for emergency funding to take care of the unaccompanied minors at the border. Where does it stand . Nancy pelosi and Mitch Mcconnell are in a standoff over competing versions of the bill. The house wants to add a 24 page amendment to the bill to pass the senate by overwhelming 84 to eight vote yesterday. , buts a bipartisan vote Mitch Mcconnell does not feel he needs to do anything. Polo see says there needs to be a guard rail pelosi says her needs to be a guard rail to help the children at the border. There are been reports they lack so, toothbrushes, and other basic needs. The house will vote early this afternoon on a version of this. Then the standoff will continue. Has been chosen by President Trump to try to negotiate a solution and both sides are saying they will not leave for their july 4 recess until this get started. Until this gets done. David youre talking about a standoff. Democrats want more aid to people on the border, republicans want more enforcement. We have that tragic photo of the father with his young daughter who had drowned at the border. Our members of congress feeling pressure from their constituents who say however you get it done, we have to get it fixed . Erik there is a lot of pressure. We are hearing from all sides that they cannot go home without this getting fixed. They cannot take another photo of a dead fodder a dead father and daughter in the river. There is a lot of squabbling. That itte is afraid could set a bad precedent for future talks in the budget. Many members are saying lets put this aside and get it done. The compromise could happen. They could drop other things liberals have been demanding. Liberals want to cut funding to ice and cut money going to the defense department. Perhaps if they put that back in, they can get this wrapped up today. Much forank you so your report. Lets go to the Supreme Court just behind where eric is. We have two Big Decisions. Lets talk about the gerrymandering decision that basically said we are not touching it. You will start with the easy one. Decision said 54 you cannot challenge congressional legislative maps as being so partisan they violate the constitution. That is a question that has been open for decades. The Supreme Court at one point said you could challenge them but they have never come up with standards. They have never struck down a map as being too partisan and john roberts shut the door. He said this of the political matter and something the court should not be involved in. David it was too hot of a potato to take on. They did get involved in a census. What that was was whether they can include a question about race in the census, and the court said you cannot do it with the justification you have. Where does that leave it . Greg the question is whether the Census Bureau data question asking is this person a citizen on the census. The administration tried to do that, a lower court blocked that. The Supreme Court agreed to some degree with the lower court and disagreed with others. It kicked it back to the commerce department. What the court said was the explanation you gave was not good enough. It was contextual. The evidence showed that wilbur ross came into his job determined to at the question. He eventually got the Justice Department to say it would help us enforce the Voting Rights act , which is designed to protect minority rights at the polls, and the Supreme Court is a splintered court. Roberts with the four liberals said that explanation cannot be squared with the evidence and kicked it back to the commerce department. Now the question is do they have time to get a better explanation and that is not clear. David thanks a much reporting from the Supreme Court. Lets go back to kevin cirilli. You were mentioning some of the things discussed last night. One of the things that struck me was how much substance. Among them was health care. This is part of what Elizabeth Warren had to say. Sen. Warren what is the Business Model of an Insurance Company . To bring in as many dollars as they can in premiums and payout as few dollars as possible for your health care. Medicare for all salts that problem. David it seems like everyone on the stage said we should have universal health care, they disagreed about how to go about it. Is that a subtle distinction voters will pick up on . Kevin it will be completely exacerbated in that divide will grow larger as the debates continue. That particular moment you drew upon was precisely one that laid a marker amongst progressives. Elizabeth warren as well as bill de blasio the only does go candidates on the stage to raise their hand when asked by lester holt whether or not they would get rid of private Health Insurance in order to advocate for government Health Insurance. I was able to speak briefly with Elizabeth Warren in the spin room. She told me after i asked her what a warrant administration what a Elizabeth Warren administration would do on day having the courage to take on big pharma and big business, and she said she would look at the department of justice as using that as an apparatus to accomplish some of her regulatory goals. David thank you for that terrific reporting in miami. He will have more coverage throughout the day leading up tonight two of the democratic debate. The swiss government confirms it is banning trading in swiss shares in the European Union starting july 1. This was government activated the measure to protect the stock market. Switzerland and the eu have failed to make progress on a political deal governing the relationship. Now we have switzerland at odds with the European Union. We will keep covering that as it develops. In the meantime we will get a check on the markets with abigail doolittle. Abigial looking at mixed moves on this thursday. The dow is down fractionally, on pace for its third down day in a row. It will be the first losing streak going back to february, which is extraordinary. The s p 500 snapping a fourday losing streak and the nasdaq up. 5 . These major averages not matching their trading action as they sometimes do. Investors skittish ahead of the g20 and consolidating a number of weeks of gains. You see outperformance in the Asian Session from the csi 300, up 1 . Perhaps optimism by chinese Equity Investors ahead of the g20 starting tomorrow into saturday. ,f we take a look at the sox this is one area of outperformance in the u. S. Climbing as micron put up a blowout quarter and the guidance was good. Plus, shipping some of their pieces to huawei, moving around that dan. Investors seeing some hope for the chip space and a bottom. Other movers in the u. S. , lets look at the stocks that are dragging on the s p 500. Conagra plunging 12. 8 . They missed estimates for their quarterly results. Guidance week. The growth margins a problem. Investors wanted more. Nor nordstrom downgraded by Goldman Sachs to a sell. The analyst saying the second half could be difficult. Boeing down 2. 4 as the faa is saying there could be more safety fixes ahead for the 737 max. Finally, if we going to the bloomberg ahead of the g20, we are seeing a small bit for bonds with some investors seeking safety on the year. Goldman sachs just slashed their 10 year yield forecast to 1. 75 from 2. 8 . In blue we have the 10 year yield and in white we have the forecast. We see that the market is well ahead of the forecast. The forecast at 2. 35 for current expectations. The 10 year yield above 2 . We do have Goldman Sachs saying it could be 1. 75 by the end of the year. Investors seeking the safety of bonds and thinking about the fed and does go rate cuts by the end of the year. David now we have news. Twitter has announced a new plan that could affect its most famous user, president donald trump. Twitter will now hide questionable tweets behind a warning label that explains the tweed is against Company Guidelines but has been left up because it is deemed newsworthy. Users will have to click past the label to see the post. A Company Spokesperson says the action is not aimed at one specific user, but it will only be used at verified government accounts or those running for all press more than 100,000 followers. The miami to osaka, while democratic president ial hopefuls look to the debate stage, President Trump to the g20 in osaka. Will legal trade breakthrough . We will ask Libby Cantrill of pimco. That is next. This is bloomberg. David this is balance of power. We turned to Mark Crumpton for bloomberg first word news. Mark two Big Decisions from the Supreme Court. Justices rolled the constitution does not let judges throw out voting maps for being too partisan. That could boost republicans. The courts five republican appointees voted in the majority. Justice is also blocked and Citizenship Question on the census for now. The court says the trump administrations explanation was contrived. The president is in osaka japan and kicked off meetings with a includingeaders australian Prime MinisterScott Morrison who praise the bonds between australia and the u. S. He says he raise the issue of Collateral Damage from the ongoing u. S. China trade war but the leaders did not discuss the issue with reporters resin. Asked with reporters present. Asked whether his America First policies weakened ties with allies, President Trump said the countries worked closely together on trade issues. The president has added another highprofile meeting. He will have breakfast with saudi arabias Crown Prince Mohammed Bin Salman saturday before sitting down with xi jinping. U. S. Relations with the saudis have been rocked by the mortar by the murder of Jamal Khashoggi and the war in yemen. Democrats took to the stage in miami for the first of two nights of president ial debates. Senator Elizabeth Warren was the only high polling candidate to take the stage. The democratic hopefuls disagreed on immigration and how to confront companies but they were work they were not on the same page of the economy, saying it needed to be made remake. Tonights debate will focus on joe biden and senator Bernie Sanders. Global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. David . David American Voters have their eyes on miami, but World Leaders are looking at japan. The summit may be overshadowed by the u. S. China trade conflict. The chinese leader on its position that the United States has to take a different tact on its negotiation. Chinast was said core concerns need to be addressed properly. We hope the United States can drop its wrong practices and we can solve the problems through equal dialogue and concentration. , head ofibby cantrill Public Policy of pimco. Listening to what the spokesperson said, and report from the wall street journal that china is saying you have to let one way back in, are both sides toughening their positions before the meeting . Libby what china is saying is consistent with the white paper they are put out a few weeks ago. Also their conditions for negotiations getting back on track. They are consistent with what they have already put out in public. The fact they are reiterating these so close to the xi trump meeting is of interest. President trump also said he could ratchet up tariffs if the chinese do not exceed to the u. S. Demands. Some of this is posturing, but i think it does underscore how far away these countries are on a big settlement. David they seems to be a consensus that they will say nice things, decide not to impose more tariffs, and agreed to talk some more. If in fact that is the most likely result, is it likely president xi and President Trump have already decided that because they were not going to the meeting. They will not going to the meeting to have it blowup. Libby i think there is some of that. In our view that as a best Case Scenario that these negotiations get back on track. It does seem plum back channeling it does seem from back channel that this is a precondition from xi. The u. S. Will not walk out of the meeting and go to tariffs. But President Trump has said he believes tariffs are a tool to extract leverage. I do not think we can discount the chance of escalation, even though i think youre right that that is the base case, especially in the markets that we see some sort of truce rather than a settlement. David lets turn to the democratic debates. I but there was more policy discussed and i thought there might be. There was a lot of talk, whether it is health care or antitrust enforcement, lots of things. It tended to be toward the spectrum,e end of the particularly against big business. Libby i wrote a note to our clients saying the candidates are trying to out progressive each other and i think that was, for some of the candidates, on display. In some ways senator warren was anchoring the debate by some of her bold policy prognostications. From a markets perspective, the things we care about at pimco, im encouraging people to Pay Attention but not take too seriously at this point this early in the democratic contest. You will not even have the convention it is a year away. We are early days here. Certainly it is interesting that the rhetoric was as left as it was, but from a market perspective im not sure how credibly we should take this. David there is the question of theher you can achieve in general what you can in the primary. You can say things in the primary you have to change when you get to the general. Libby this is the beauty or the difficulty of our democracy. For the primary, because you are trying to get your own voters within your party to turn out, and then you have to tact center. It will interesting it will be interesting to see some of the positions staked out last night on medicare for all, or a private option, whether that would haunt Elizabeth Warren if she is the nominee. The general, you bring up a good point about who will win the general. You look at the states that a candidate needs to win in order to be trump, it is michigan, pennsylvania, ohio, it is wisconsin and florida, where that progressive rhetoric will not resonate as much in the general population. David we also heard that nancy pelosi said she would reopen usmca with the specter toward enforcement, surgically, what does that mean for the prospects of getting that ratified . Libby it is interesting because the white house has been adamant through u. S. Trade representative ambassador lighthizer that that is a no go. They do not want to reopen nafta 2. 0 or the usmca under any terms. The fact that Speaker Pelosi said that on the record is quite interesting. I think it increases the chances we get to a standoff between Speaker Pelosi and President Trump, a game of chicken over this. Our concern from a market perspective is that President Trump hollow throughs with his threat from withdrawing with nafta to force the vote on nafta 2. 0. I do not think Speaker Pelosi will respond favorably to that. David the markets will react to that for sure. Libby, thank you so much for being with us. Pimco head of Public Policy, Libby Cantrill. Ford has been talking about cutbacks in europe but now we have the numbers putting its stock in the crosshairs today. That is next. This is bloomberg. David you are watching balance of power. I am david westin. Time for our stock of the hour. Our company today is for. The Company Announced it is cutting 25 cutting 20 of its workforce in europe. The stock is up. Kailey finally got clarity. Ford first said it would review europe six months ago and the market has been waiting for what that revamp would look like. It is coming up 12,000 of its workers in europe. Hardest hit will be germany and the u. K. And russia. They are shuttering some of their manufacturing facilities to 18 production sites. Six of those with a closed by the end of the year. Ford has been struggling in europe. They lost 400 million last year. Through may sales have slumped 8. 3 . Something needed to be done. A lot of these are out of fords control. The u. K. Being the biggest markets and the private investors are weighing on Consumer Sentiment and reducing the amount of cars they are buying. Yet emissions because it is europe. Hoping thisey are will help the reach some of their margin targets. They are targeting 6 margins, up from. 6 . David that is a real reach. You have a struggling Auto Industry in europe, and we have to turning to electric vehicles and Autonomous Vehicles at the same time which sounds like it costs money. Kailey right. That is why the Global Restructuring ford is doing, theyre trying to reduce costs so they can shift money into electric vehicles. They do not have a lot of share in the u. S. Only 2. 5 market share. That is where the industry is going. They need to build up that market share. Carbon emissions are a big deal. Reregulation is coming on and Research Suggests ford could be on the hook for a 3 billion fine because of that. They have to go electric, especially their. The company as part of its announcement set all of their new vehicles will have an electric option. David this is a challenge for all european automakers. Thank you so much for kailey leinz. Coming up next, we dont to we go to aspen to talk to David Rubenstein about income inequality and whether he supports a wealth tax. York, this is bloomberg. Hey im bill slowsky jr. , i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. David this is balance on bloomberg television. Balance of power on uber television. Esper addressed the growing tensions between the United States and iran. Secretary esper says he is concerned tensions are escalating out of control. The purpose was to come in and give them our perspective on what has happened in the last two to three months and how we see the uptick in iranian provocative activities whether otherwise, andr our concern that this could escalate out of control if we dont get it into the box. He also says the u. S. Prefers to use diplomacy rather than military action to resolve these concerns. Emmanuel macron once the u. S. To reconsider its maximum pressure policy on iran. The president macron president mccrone will try to persuade President Trump to remove sanctions and give negotiations a chance. Both leaders are in japan for the g 27. China says its demands for the g 20 summit. Demands for the tariffs havent been reached. And president xi jinping meet saturday in japan to try to get negotiations back on track. U. S. Unemployment filings more than expected. The Labor Department says jobless claims rose by 10,000 to 227,000. The unemploy in trade for for defense is 7 . Global news, 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. David thanks, mark. Its time for an exclusive interview. We go to the aspen ideas festival where our colleague Erik Schatzker is talking with David Rubenstein. Erik thanks very much. Great to be here in aspen. David r. my pleasure. Erik he spoke at Westminster College in missouri. In your remarks, you shared your concerns about the federal debt, the viability of Social Security, gun related deaths, obesity. I felt like i was watching a different David Rubenstein. 69 are you beginning to speak out about these concerns of yours . David r. that speech was the 50th anniversary of the turtle museum, and that is a site where Winston Churchill gave his famous iron curtain speech. Country, is of the said we are not in a cold war, but we have problems. I laid out the problems. In my older age, maybe im trying to be more expressive of my views, because if i dont now, when will i do it . Erik what concerns you most, david . David r. generally, i would say, in terms of the u. S. Economy, i worry about the debt and deficit. At some point, we have to deal with it. Erik sounds like you are the only one. David r. modern monetary theory suggests not to worry about it so much. It is a theory that has not yet been proven. I worry about that. We have 22 trillion of debt. Im not sure we can print enough money to deal with it. Erik does the more outspoken David Rubenstein present a risk to Carlyle Group . Erik i havent heard it does come up david r. i havent heard it does, but if it does, im sure i will hear it soon enough. Im not saying anything that hurts our investors, im just giving my views on the subjects. People can accept them or not. One persons opinion. Erik you are not any old person. I am david r. i am an david r. i am and being old person. When i do interviewing, i try to not give my views. On speeches, i historically try to say, this could be this way or that way. Now, i probably feel strongly about some things, but not things that are so controversial. Erik you talked in a speech about the reality that 1 of americas population own half a half of americas wealth. How would you address that situation . David r. most people say the best way to do it is to confiscate the money from the wealthiest people or have higher tax rates. That can make you feel good at the beginning, but there are not enough wealthy people to make that difference. What you really have to do is educate the people at the bottom. Right now, 14 of the people in this country are functionary functionally illiterate. If we dont get the underclass literate, they will never rise up. Erik and you may well be right. Im inclined to believe the same thing, as are many other people, but the immediate problem is that that solution takes generations. David r. there arent enough extremely wealthy people that if you took their money away and redistributed it, it would make the problems of the poor go away. It isnt going to happen. You need more sensible positions. The best thing is to do things like get educated and be part of the American Dream. I believe in the American Dream, work hard, come from nothing, work your way up. I had some advantages over people. I had two parents, my father had a job, i recognized that was different than some people, but i think getting People Better educated in the k to 12 problem is the most serious educational problem we have. Erik you are a student of history. There was a time not so long ago when kids could get a Decent Public School education, but the likelihood is much lower now. Workingclass class income could support mortgage, it is pretty tough these days. Hard work enabled social mobility. That is the American Dream you talked about. What happened to that dream . David r. we have separated the economy in ways that there are very wealthy, pretty wealthy, and the real underclass. The underclass is not rising up in terms of income, but they dont feel they can work their way up. Erik and the really wealthy are getting wealthier. David r. there is no doubt about it. If you took all people in the forbes 100 and took all of their money and redistributed it, it will not solve the problem. You have to have people at the bottom of the economic class being educated. Worried, you at all david, about the hostility toward wall street and toward the wealthy and mechanisms of creation Wealth Creation that we see and hear at the moment in the Democratic Party . David r. the Democratic Party has drifted left from the time i worked under president carter. Carter was a nominee because he was the moderates person and liberals didnt get the nomination. His position was more moderate than the liberal democrats would have liked. Today, the party has drifted further left, alienating some people. If the party moves too far to the left, it is unlikely they can win the president ial election. Erik has it drifted too far left for David Rubenstein . David r. i stay out of politics. I dont give money to politicians dont it involved in political events. Im chairman of the Kennedy Center and smithsonian. Im divorced from politics. The Democratic Party, probably as an independent, if they dont nominate somebody seen as beewhat centrist, it will difficult to beat the incumbent president of the United States. Erik of the ideas taking hold in the democratic debates, of which we just saw the first, to the most . Ppear david r. medicaid for all is not likely something we can afford. I dont think we can afford that. A one Payer Health Care system, while it has been around for a long time as an idea, and canada has that, it hasnt worked as well as some people would like. Some people in canada come here for health care, for reasons you know. The United States is not likely to put all the Health Insurance companies out of business. It is unrealistic. We should try for solutions more realistic. Erik such as . David r. we can improve oh, care improve obamacare. Everything can be improved. We also have to address Social Security, which in a few years, will be technically bankrupt. When Social Security was started, there were roughly 30 workers for every retiree. Now, it is about two or three. There are not enough workers to support the people collecting Social Security. If we dont solve that problem, we will have to reduce benefits, increased taxes, or increase the age by which you take Social Security. Erik no one will debate it needs to be fixed, but how . David r. a means test is something i looked at. It would be a good idea, but it turns out there are not enough people in the middle income that you can make a difference. If you set all wealthy people, all wealthy people that had an income of 200,000 or more per year dont collect Social Security, it would not make a difference. The Median Income for a family of four is roughly 65,000 to 70,000. If you are only affecting people 200,000 and above, you are talking about two to 3 2 or 3 of the population. Tot do you are going to have do is have higher growth rates, which is hard to do, increase the tax when Social Security first started, it was a 1 tax on the first 4000 of income. To will probably have increase it at some point or cut benefits by making the eight higher before you retire, or cut the level of benefits. None of those are attractive. That is why nobody wants to deal with. I hope we can form a president ial commission, similar to the one when Ronald Reagan president thats president. Erik its always great for you to share your opinion here. That is David Rubenstein. There is much more coming from myself and from mike. Stay tuned. David and its always good to hear from David Rubenstein. Thank you to erik. After the first night of democratic debate and on the eve of the second, we talked to a former governor of pennsylvania next. This is blue berg. Bloomberg. David you are watching balance of power. Of thea first taste democratic president ial debate last night when 10 candidates took to the state of miami. We get the second 10 tonight. As mayor of philadelphia, governor of pennsylvania, and as chair of the Democratic National committee during the 2016 election, we welcome him coming to bloomberg. Give us your sense as a former chair on what happened last night. Did it accomplish for the Democratic Party what you would have hoped . I thought it was a terrific discussion on the issues. There were differences between the candidates, not huge differences, but there were some key differences. I thought Elizabeth Warren, if you look at this as two lanes, the progressive lane there will be one progressive standing at the end, and the more moderate lane, there will be a moderate leftist Center Person at the end. Elizabeth warren, of all of the progressives in the debate last well, spoke with passion, spoke with intelligence. She had definitive plans out there. Some of which will cause her trouble, but she did well. I think castro did well and established real chops as a progressive candidate. Blasio tried to do shock and all, and we will see whether that works, but i think, right now, the battle in the progressive lane is between Elizabeth Warren and Bernie Sanders. Moderates went, the clear winner of moderates was amy klobuchar. She was smart, had good answers, and had fun answers and good oneliners. David lets pick up on one of the people you mentioned which was castro. He spoke on immigration eloquently. Lets play a little of what he had to say. I would sign an executive order that would get rid of trumps zerotolerance policy, the remain in mexico policy, and the metering policy. The metering policy is what the immigrants to make the risky swim across the river. David governor, you spoke very powerful on the subject of immigration and it is on the line given the photo that we saw of the father and his daughter in the southern border. Is that a winning issue, as it were, for democrats in 2020 . It can be, if we frame it correctly. Littleht julian went a too far in talking about facetsnalizing certain by drug dealers or others. He said there were other parts of the crime code, but that type of talk will be understood by americans and they will say, if democrats want open borders and i dont want open borders, and no one wants open borders, and most democrats dont want open borders either, but the passion with what he spoke the three things he outlined in the clip he just had, who could be against those things . We shouldnt have a policy separating people. Metering means you have to wait legitimatefile a asylum claim, which used to be when you reached the u. S. Border, you could file an asylum claim in 72 hours. What castro said, all democrats, even one like me who doesnt want to see anything close to open borders, agrees with that. If we can focus the issue of immigration on the humanitarian things, most americans agree with us what donald trump did with the metering program caused there is no question in my mind caused many people to have problems getting in, falling sick, and in some cases, trying to swim across the river to get here, and the tragic death you alluded to. I think it is important for us to present the issue well. And, to make sure people understand we want more Border Patrol cards, want more security, dont want open borders, but we also want the humane american policy. David one of the issues that got a lot of attention was health care. The ticket lily how we get to a world particularly how we get to a world where you get medicare for all or different approach. How are objective, making sure every single sick american in this country is able to get the health care they need, i believe medicare for all is the way to do that. A program that will reduce the administrative costs and reduce the bureaucratic costs and make sure everyone gets that Quality Health care. David governor, what about it . Everybody believes in health care. When we hear medicare for all, a lot of people think that is socialism. And by the way, can we think about it can we afford it . 160 million americans have health care from their employer, and two out of every three of them are satisfied with that health care. They dont want to be put into a government program. They would be afraid that they couldnt keep seeing their own doctor, afraid there would be long waiting times like in European Countries and canada, and places like that. So, the best proposal is Amy Klobuchars which is, if you want to go into medicare, you can. That is an option you can have, but you can also stick with your private employer if you want to stick with them, or you can have a combination. You can go onto medicare. Like a lot of seniors a medicare, you can buy medicare or a United Medicare plan or some other companys make sure you have total Prescription Drug coverage, which doesnt exist in simple medicare, to make sure you can see doctors without waiting two months for unemployment. For all whocare want it is the best way to go. David governor, i want to talk about somebody near and dear to your heart is heart, who is joe biden. Tell us what we will hear from them and is this a duel between him and Bernie Sanders . Gov. Rendell i think bernie will probably bring out policy differences. That is ok. As long as the debate is on policy, issues, that is ok. I said a couple of times earlier this week, if democrats go after joe biden, personally, or try to criticize them for some of the things he said or did 25 years ago, i think democratic voters will get ticked off by that, because there is one overriding emotion. Everyone who is watching those debates, and that is we have to get rid of donald trump. We will not shoot ourselves in the foot and destroy our own candidates. We have to think of the greater good, getting rid of donald trump. Its a fine line for burning to walk. I think he can do it on his issues. Answerser have on the issues, and i think he does. If he attacks bernie, joe biden, or anybody does, my advice to joe would be to answer the question about what is causing people to attack him but to pivot to what he wants to do about that specific problem and talk about donald trump. Canvoters want to hear we take on donald trump. Donald trump is wrong. There wasnt enough donald trump last night for the voters. [laughter] david many thanks and great to have you with us governor. That is ed rendell, the governor of state of pennsylvania. Everyone has a scorecard and we have our own. We call the winners and losers from last nights debates, debate and we are not talking debate. E democratic thats next. This is bloomberg. David this is balance of power on bluebird television. Im david weston. Winners and losers are what we look for in every debate. Last night was no exception. Contenders,nked the but it wasnt just candidates on the state you fared well or less than well as the evening went on. Take the spanishlanguage itself, more than one candidate used their time to put their spanish skills to the test. [speaking foreignlanguage] [eking foreignlanguag speaking foreignlanguage] you be the judge whether the spanishlanguage benefited from the attention. If engaging social media because of frequent mentions on the stage was the way of winning, there was one politician that came out ahead of all of the others. We are not talking about who you think we are talking about. It was not President Trump tweeting from air force one who everyone was googling. The top trending search was Mitch Mcconnell. Do you have a plan to deal with Mitch Mcconnell . Pres. Trump i do i do. Theres a political solution we have to come to grips with. First, take away the filibuster from Mitch Mcconnell to start with. [applause] if you want to beat Mitch Mcconnell, this better be a workingclass party if you want to go into kentucky and take his rear end out. David then again, maybe for some, it was a windbag win not to be the center of attention. Who went unmentioned during the evening . Joe biden, who contrary to expectations, was not subject to scrutiny at all. He is on the state himself tonight. We will see what comes. Coming up, commodities with alix steel. Show previews the opec meeting and looks at the big run in gold prices. On andve dan juergen he is the main you want to hear from when it comes to oil. Sign up for the Bloomberg News later and get the latest about politics in your inbox every single day. Live from new york, this is bloomberg. When you rest on a leesa hybrid mattress, bedtime is no longer simply the time you go to sleep. 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Prices had 1400 per ounce, down side on a trade deal or upside on geopolitics . Ivism in oil, we speak to and why u. S. Exploration Production Companies need more oversight