That nobody really knew how it would turn out as far as viewership goes, is a little bit disappointing on night one. We will see what happens tonight with dr. Jill biden as the anchor of tonights program and see if we can attract more viewers. David do they have much of a hope of doing that . Michelle obama was a pretty big gun the first night. You would expect her to have the draw. Im not sure whats going to happen. Jeanne yeah, i think we have to be a little careful because so much of this is streaming. All of the numbers rick is right. Viewership is down on live tv. There is streaming. Students do not watch anything live. And afterwards. One of the things that last night did, they talked about the fact that trump is not in their view qualified to be president. I think the democrats really have to think about, they want to pull over these voters but they need to persuade in these swing states. They will have to do much more than just talk about how he is not just qualified and what joe biden will do on the economy, on covid in terms of restoring america, restoring stability. Positivehat sort of folly policy message which is hard to do in any convention, that is what they need to persuade these independent to moderate voters and i dont know yet if they have gotten there. David it is early going in the week. Ehe move tonight, what jeann says is largely an attack on the current president , is in moving towards lets get to know joe biden and through his wife, jill biden . That is really the high point, i suspect, of tonight. Rick tonight, dr. Jill biden is going to do something the American Public is not seen. Talk about herself, talked about her experience in the classroom. The challenges of education and her background. Point of the spouses view how we should think about joe biden. Even though he has been around public life for as long as we have all been around, we dont really play know him that well. He has played second fiddle to people like barack obama. Certainly, joe biden has some catching up to do and tonight is the beginning of that sort of effort to try to portray joe biden as something other than a politician. David one thing im curious about the theme tonight is leadership matters. Leadership. Do people vote for president s built on leadership . That seems like an abstract concept. Jeanne certainly, people dont vote on Foreign Policy. Unless theres a crisis. If it is Foreign Policy, absolutely not. I think what they are trying to talk about is a restoration of the kind of leadership people remember prePresident Trump. I think they want to talk about that by bringing out some former president s which they have done tonight. Jimmy carter, bill clinton. I think the progressives in the party, bringing out a bill clinton, colin powell reminds them of things they dont want to think about like the iraq war. There is a positive and negative when they bring out some of these former leaders. And they say this is what joe biden is going to restore. What joe biden needs to do is break out from under the shadow of president obama and talk about what he is going to do differently in all of these areas. David our bloomberg contributors will be staying with us throughout the evening. Lets be frank, this entire convention is figuring out who will occupy the white house for the next four years and some but has that position. We turn now to mario parker. Mr. Trump occupies the white house. How is he reacting to all of this . Evening, her, this has been tweeting a little bit. Earlier this evening, he retweeted one of his supporters who was criticizing Colin Powells speech, characterizing colin powell as a puppet of the establishment. He has also tweeted about one reason so ago that the why we have more cases, more coronavirus cases is because we have more testing. Thes a familiar defense president has employed in recent months as cases have resurged in the u. S. , he has been on this counter programming tour, if you will. Visiting swing states to try to quell some of the attention the democrats are getting this week. David we have a rollcall call vote going on. We expect this to be orchestrated so delaware puts it over the top. Mario, we are seeing some republicans. Last night, we saw john kasich. Tonight, we are seeing colin powell. A brief appearance by the late john mccain as well. The republicans, particular the Trump Campaign worried about taking away some republicans from their base . Mario its an important counter move on the part of biden because the Trump Campaign has been trying to portray biden as a vessel or a puppet of the most radical parts, the most extreme parts of the party. They are trying to paint him as an empty vessel for the aspirations of Bernie Sanders and a. O. C. , as well. The fact that the bank Biden Campaign has put forth some centrists and republicans who may be disaffected with President Trump is very important. They are trying to make a lot more collateral palau to those individuals. David we want to go to the convention because joe biden has just gone over the top. The number needed for him to become candidate for the u. S. President. Skilled Union Workers like josh and the future will be made in america. Ohio casts 20 votes for senator Bernie Sanders and 134 votes for the next president , joe biden. Oh io today, hatred still lives in our nation, but so does resolve. Oklahoma refused to let ourselves be defined by division then in our nation must turn back the tide of violence now. Oklahoma casts 13 votes for Bernie Sanders and 24 votes for our next president , joe biden. Oregon. As black americans standing on native land, we probably represent oregon. Laid bareeason Unequal Health care access and deaths in communities of color. David what we are listening to is a roll call vote as we go through state after state. We have not heard from delaware. It is expected they will come in at the very end. Hes already gone over the number required. Rick, i want to come back to you. Watching this, it does strike me going back to your point about the Convention Last night. This is a far cry from what we saw on the typical Convention Floor where someone is standing up and everybody is roaring, demonstrations going on. This is somewhat more subdued, is fair to say. Momentss missing those that conventions typically give you. Frankly, it is what those moments are is what people remember over years. Some turn of a phrase in a speech by the candidate or his family. The appearance for the first time in the hall by the candidate and his family. That finallyngs orchestrated. Good friend of mine who did this for Ronald Reagan thought the moments is what really pay off and it is its really hard to create these kind of moments on video. I think that is one of the things we are missing in this process. David such a great point. Even in the white house when president reagan was elected, every day there was one of those moments, one of those photos that would capture the administration. How do you create that moment, that image in this new virtual streaming world . Jeanne it is so hard to do. It is so hard to break through in this world. Just listening to what you were talking about. I was listening to end richards speech at the convention and it was such a magical moment. There has been so many of those over the years but its awfully hard to do when you dont have a live audience. When you dont have people to react. It is amazing what Michelle Obama did last night because she was able to give a really good speech with no audience. That is tough to do. That is sort of what is missing. These offthecuff moments that is hard to create. David stay with us. We are up to rhode island now. We will keep going until we get to delaware. Meantime, we want to get a check on where the asian markets are going. Theres a big storm brewing. We go to Sophie Kamaruddin in hong kong for a market check. Sophie that would be the typhoon that just shut down hong kong Public Transportation this morning. Were going to wait to see if the session will continue as normal. Take a look at the board. Chinese stockstill laggard in the region while the msci index index is extending gains. Gaugeout the tech heavy with the China Holding a threeday rally with a battery maker falling on its earnings. We have seen some diversions when it comes to the yuan. We have the offshore rate continuing to trade below 692 this morning. I want to pull out the chart on the terminal for a broader look at where asian stocks stand in relation to their u. S. Peers. You are seeing the correlation breakdown with the msci index first a correlation with the s p 500 in negative territory amid the diversions we are seeing on earnings, policies and now politics. David thank you to Sophie Kamaruddin for that market check. Whoever occupies the white house for the next four years will have his hands full with an economy battered by the pandemic and the shut they triggered, leading to a sharp drop in gdp despite massive monetary and fiscal intervention. For more on what a biden presidency would meet, we welcome adam, the president of the president is the twofer economics. Adam, thank you for being here. The economy will looms so large on the agenda of whoever sits in the white house come january. What are the challenges that a President Biden would have or for that matter President Trump would have . Adam thanks for having me. Obviously, the first challenge is recovery from the pandemic and that is first and foremost a Public Health concern. But the real issue is going to be what happens to the millions of workers in industries that are shrinking and the millions of workers who are permanently went to shrink like in person nail salons probably are not going to go back to normal. In person restaurants are not going to be the same size they were. You are going to have a lot of people who need to find new opportunities and need help. There are also millions of people will be goodlooking after children and elderly at home. We are already seeing that. It is going to have a huge transformation for the workforce. The second big challenge is how do we get from the kinds of furlough and stimulus that should be happening now to a longerterm path that is sustainable . Ont is going to rely as much congress has with the president. David what do we know about joe biden and his approach to those sorts of problems as opposed to President Trump . How would a joe biden differ in your estimation . Adam i think on the facts, it is easy to see a huge difference. Andt off, the stimulus whatever help is given will be more direct and more to low income people and less about tax cuts for people that are already working anyway. I think there will be better coronation of congress. To be fair, treasury secretary mnuchin and share kudlow have done a good job with this congress until the last month. On an ongoing basis, probably better with Congress Unless you get a clear republican majority in the senate. I think theres going to be a fundamental shift in terms of regulation and supervision of various industries. The question is how much does President Biden if elected turn everything around, particularly in environmental and labor areas through executive order versus how much restoring the status quo and try to change things through legislation . Otherwise, we keep swinging back and forth with every new president. Jeanne in terms of what you have heard so far during the campaign from joe biden, from the democrats, what would you like to hear them say . I deal a lot with young people and have to say students that graduated in may in the midst of this pandemic and those set to graduate next year awfully concerned about this job market. The costs of their debt, the cost of health care. What is the number one thing you would like joe biden and the democrats to say they are going to do day one if they get into the white house in terms of moving the economy through this difficult period . Adam its incredibly challenging. I think the number one thing they have to do is come up with a better way of supporting state and local governments, including their activities of Community Colleges of education, of Public Service jobs that that is going to have to be something on the first day if we cannot get the stimulus bill through. The second thing is reallocating the burden of taxes. We dont necessarily have to raise taxes a lot, but we need to change perceptions of fairness and economic efficiency. Where is the burden of taxes hit. Right now, it is too much on people. This is where the left wing of party does in this area think about antitrust for the digital age. How do we get dynamism back in this economy which will create new jobs . David what did you want to ask . Rick i was going to follow up on that. One of the things that is getting hotly debated in washington right now is the tax structure for these internet companies. Really, speaking as a republican, have been pretty progressive i going after these guys who they see is amassing an anonymous a math mount of wealth who then share a bigger burden personally on the tax code. Do you see there can be progress especially on a bipartisan basis in washington next year . For godless of who was elected. Adam theres certainly should be. There was a brief moment with the taxcut package passed at the end of President Trumps first year in office where there was some progress not just on changing those tax codes, but also the International Aspect which you need to do connecture not havingples, aare their money to the bahamas. Extentt politically how for is a Republican Senate would be. There is enormous support across a range of voters, states, across a range of policy analysts for some kind of change. You can look at the writings of some people at the cato institute, other think tanks that are normally associated with the Republican Party. They have been very open about the need to have more competition. That is a free market value as well as a progressive. David we have a lot more to talk to about. We are following this roll call vote going on at the convention. We are in the state of wisconsin now which is the host state, in some fashion. Right after wisconsin, we expect delaware to come in. That will be the moment joe bidens home state will announce. It has always been his northstar, delivering for families like his own. Working people who struggle and sacrifice to build a better life. Nobody has ever had to wonder who joe biden is in it for. Faces daunting challenges but i have known joe biden and there is no one i trust more to unite our party. He is humble, he tells the truth. He treats everybody he encounters with respect and builds bridges, not walls. Easily theyre made for this moment and the finest Public Servant i have ever known. Delaware is proud to cast its 32 votes for our favorite son and our next president delaware is Joe Biden David without the balloons falling, without the confetti. Although you can see some reaction on zoom. It appears joe biden is pleased, if not surprised. We see a lot of people applauding this. Normally we would have a big celebration but we dont have a real convention. Lets turn now to our washington correspondent, host of bloomberg radios sound on, kevin cirilli. Kevin a few points i would make here. First and foremost, this is largely trying on the democrats to have a widespread unifying appeal. Whether it is in certain cases republican speaking or freshman congresswoman alexander . Inause iria ocasiocortez which earlier this evening, she said is the beginning of a new kind of Democratic Coalition. The second point i would make is for the democrats, it really raises the question of whether or not this Broad Coalition is going to play well in key battleground states, in key swing districts like michigan, wisconsin, and parts of pennsylvania. The third point i would make is for other rising stars like freshman congressman conor lamb, another centrist democrat from pennsylvania, he was not given as much speaking time as someone like aoc. That contrast when i talked to my republican sources is something they are clearly aware of. They are looking at things like the Green New Deal and trying to portray this as a message of a party that has gone too far left and a nominee who has lost control of it. David thank you to kevin cirilli. We have been seeing joe biden and dr. Jill biden, his wife actually in a classroom where you will hear from her later on. She is a teacher, a doctorate in education. We will hear from her later on. Adam, i want to come back to you. One of the really interesting questions i see emerging right now is this a different approach to the economy . Certainly, Bernie Sanders thinks it is. At the same time, some people would like to portray joe biden as pretty much a moderate. Do we know what we are getting from joe biden when it comes to managing the economy . Adam i think we do. I think it is going to be further left in a frankly constructive way than some of the Obama Policies were but i think it is going to stop far short of Bernie Sanders or aoc. I think it is important to keep a perspective on this. There are a lot of economies in the world, including very freemarket allies of the u. S. Like the united kingdom, australia, canada, as well as places like south korea, japan and especially germany and and northern europe. Way and the private sector. It has not hurt that much. There was an ar