People on it that are in close circle of advisers. We have the interior minister minister. This is all coming up in the buildup to sundays election for plandent nicolas maduros to rewrite the constitution. David he has been pushing for this assembly that would take place in august will stop what has the president in august. There have been reporting that something was coming for the past several weeks. The opposition which has been protesting this plan to hold had 7. 5 million supporters in a unofficial ballot. President trump has promised swift action should maduro proceed with this vote which so far, maduro has shown no signs of backing down. David if i am not mistaken, we had an Assembly Like this back in 1999 when chavez called for it. What is this new president proposing doing that is different . Is formerference president hugo chavez, when he we wrote the constitution, he had a widespread mandate to do so. He was elected with high popularity. Ist you are seeing maduro do only about 20 of venezuelans actually supporting this plan to rewrite the constitution. Once this assembly is convened, it will sit on top of all branches of government and it will not be put to a vote whether or not people actually want the assembly. What people are voting for is the actual delegates and with the opposition sitting it out, the only delegates on the ballot are supporters of maduro. There is not a popular mandate for this proposal and the government is showing no signs of backing down. David great to speak with you on this breaking news. Senate republicans are on their way to what could be a very unpredictable and chaotic for debate aimed at repealing the Affordable Care act. With is a lot on the table proposals varying from appeal and replace to a full repeal to what is called a skinny repeal which would eliminate the individual mandate and the requirement that Companies Give coverage to fulltime workers. There with us is marty shanker. I saw the senate gavel dan at 9 30 this morning. They were debating one piece of legislation. Give us a lay of the land, what they are going toward what they are going through. Marty they are trying to figure out a way to get a win. The gop is desperate to leave this city with something in their pocket that they can come home and talk about. If they spend all this time, the next two days, voting on what could be hundreds of amendments late into the morning on friday, and come away with nothing, is going to look extremely bad for the republicans and that is what they want to avoid. David let me ask you about the term votearama. It was used back in the 19th century. What does it mean . Marty it connotes the ability to open up the legislative process to both democrats and republicans, where essentially, it is no holds barred amendments can be offered by any senator on any part of the Health Care Bill and they take votes on it. Somehow at the end of the process, they cobble together a unified bill that would be the Health Care Policy and it allows you to actually go to a conference with the house and work out what would be a final bill. Chaotic andlicated, especially if it happens into the Early Morning on friday, it will be a challenge for anyone to understand what they voted for. David not the usual way of going about passing legislation. You have this compressed timetable. Get it byhe odds we friday . Marty 5050. I will say Donald Trumps push to get something out of this senate has been fairly effective. Up until about two it three weeks ago, people thought they did not have enough support to even go to about. Now that they have passed that hurdle, there is from and is pressure to come up with something that they can say they achieved on repeal and replace. David many days where we look at the president s twitter feed for guidance on policy. Three separate tweets, the president decided he was going to overturn something that was put into place in 2016, allowing transgender individuals to serve in the u. S. Military. The reaction from the pentagon in particular seems like they may have been caught unaware that this was happening. Marty that was quite odd. In a administration maria used to things coming out of the blue, this came from the outer atmosphere. He says he consulted with his military experts and decided to ban transgenders, and is john mccain pointed out, this is no way to make policy in a tweet because it leaves hundreds of finance Unanswered Questions like what do you do about transgenders who are now serving in the military . It is throw them out . Funny that he is doing it on heroes week, when people, transgenders were putting the lives in the line for this country are being told they cannot serve. Thes a curious thing and pentagon seems to not have known nothing about it, let alone congress. David he tweeted about Jeff Sessions and we will talk about that, and a little bit. Thank you very much, marty schenker, bloomberg Senior Editor of international government. Lets see what the markets stand, this afternoon where the market stand, this afternoon. As we see some push and pull between earnings winners and losers, earnings still the primary driver of what is going on. People also turning their attention to the fed and to some degree, to what is going on in washington. The dow is the best performer, helped in part by Strong Performance from boeing. We are also taking a look at steelmakers. A combination of earnings and politics. Comingeel bouncing back, back with earnings that beat analyst estimates after a rough second quarter. The company improving its productivity and efficiency and those shares are rising. The rest of the Steel Industry is under pressure because of comments from President Trump to the wall street journal, saying there has been a delay in these antidumping measures that he has been talking about because it has been more complex to get studies done. You see copper and gold one of the gains, today. The other politically oriented group we are watching his health care. Hospitals specifically. Universal Health Services becoming the Second Hospital chain operator in two days to come out and say earnings were below estimates. That company also suffering from lower volume. There is still the focus on the Health Insurance issue, as well and what it cut to medicaid could mean for some of the hospital chains and insurers. That worth pointing out health care is one of the better performing sectors, this year. It is in white versus the s p in orange. Financials and blue, energy and yellow. Tech is the only group that has done better than the health care group. Part of this has to do with strength in a wide variety of different types of health care stocks. Hospitals have risen on the year. David thank you. Coming up, tom perez joins us, head of the Democratic National committee with the plan for the democrats to win back the hearts and minds of the forgotten americans as he puts it. This is bloomberg. David this is Bloomberg Markets the trump economy. Lets check in on the first word news. Mark crumpton has more. Mark President Trump is banning transgender people from serving in the military. On twitter, he said the military must be focused on victory, cannot be burdened with the tremendous medical costs and disruption that transgender and transgender in the military would entail. Senator John Mccain Ruth release a statement slamming the president , saying his tweets were unclear and that quote, any american who needs current meets current medical and readiness standards should be allowed to continue serving. Chelsea manning, the transgender u. S. Army soldier whos been seven years in prison also tweeted her disapproval, writing so biggest, baddest, most expensive military on earth cries about a few trans people but funds the f35 . Sounds like cowardice. Warned lawmakers there is a cost to delaying an increase to the Government Debt limit. Secretary mnuchin says the prolonging prolonging the decision burdens taxpayers and creates unease among investors while he reiterated that the that the government cannot finance itself through september. He urged lawmakers to raise the debt limit as soon as possible. The European Commission is keeping the door open for sanctions on poland. The ec says the conservative government has been limiting Judicial Independence since coming to power in 2015. The polish government says it will not accept the quote, blackmail and has the right to decide how to organize its judicial system. The ec has given poland a month judiciale its overhaul. Global news 24 hours a day. This is bloomberg. David thank you. Invariable, virginia, Democratic Leaders unveiled a plan they are calling a better deal for americans. An economic blueprint that that aims to raise worker salaries and break up m a deals. Kevin cirilli caught up with the chairman of the Democratic National committee and asked him about breaking up large corporations. Corporations in this country, and you look at where the balance of power is, the little guy is getting screwed and there is too much power concentrated into few and we have seen that manifest itself in so many different ways. That is why people feel like the system is absolutely rigged against them. And then you look at the debate right now in congress, where the republicans and President Trump want to basically emasculate the Consumer FinancialProtection Bureau which was a critical part of the infrastructure of consumer protection, established after the great recession. It has done wonders to help average americans get access to basic fairness. You see republicans have not learned the lessons of history. They believe if we concentrate power in the hands of a few, benefits will trickle down. Trickle down economics have not worked. Kevin is this a more populist message as we head into the midterms, that the Democratic Party is trying to adopt more populism, go more toward the left . Is that what this is about . Tom we are fighting for what my former boss fought for, his entire life in the senate, there and its an opportunity for everyone. We want to make sure we are fighting for the issues everyone cares the most about. They want to make sure that if you work 40 hours a week, you can feed your family. They want to make sure that health care is a right for all, not a privilege for a few. When you work 40 years and get a pension, that you can count on that pension. Those are the issues democrats have been fighting for. That is the essence of the better deal, to make sure the people get a better shake. When you wonder kids to go to college, you dont have to take out to a educational mortgage. We should make sure that pathways to college or apprenticeship or any sort of Career Readiness potential is accessible. Too many people feel like the doors are closed for them, that the system does not work for them. What we are doing is democrats is articulating what we stand for and putting those values into action and contrasting them with the idle chatter and empty talk of this and administration. Tom lets kevin lets talk more about that and health care. That is dominating the discussion in washington. Do you think that a skinny version would attract any democratic support in either the senate or the house . No know, and here is why and here is why. A skinny version just gets to a Conference Committee. A Conference Committee will be hijacked by the freedom caucus. We should be following two rules. Goal number one is do no harm to the millions of people who have already benefited from the Affordable Care act. Will number two, when you are trying to improve or the on the Affordable Care act, does your proposal increase access to quality, Affordable Health care . Those are the rules that ought to govern. Every bill they have put forth fails miserably. The socalled skinny bill would make it more expensive for people to get health care because you are inviting Healthy People to leave the insurance market. They decry the fact that premiums are going up, ignoring that people get subsidies. The decry the fact that premiums go up and then they put a proposal on the table that will increase premiums. They are violating the basic hippocratic oath of policymaking. Kevin i have to ask a followup question. I hear you on that point, but then i look at the economic plan and i see the effort to appeal to states like pennsylvania, michigan and wisconsin. A lot of those voters voted for President Trump because of high premiums. Can the message you are saying on health care resonate with the economic message . Tom a lot of the voters who voted for donald trump are also confronting a Family Member who has a preexisting condition or a family or friend who is struggling with opioid abuse. Donald trump told them in the campaign that he was going to enhance access to health care. That he was not going to touch medicaid. Those were his promises, not my words. He is breaking those promises left and right because the house bill and the senate bill are both trying to change and under my medicaid as we know it. We believe that health care is a right for all and not a privilege for a few. If you are struggling with any of these challenges, whether it addiction, or opioid you need this health care and they are going to make it it make it harder to get. I think americans understand that democrats believe health care should be a right for all and not a privilege and what republicans want is a tax cut for wealthy people who dont need it and corporations that dont deserve it. Kevin opioid addictions, apprenticeship programs, hopefully somewhere in the middle, we can find some kind of bipartisan consensus. Thank you so much. David my colleague Kevin Cirilli sitting down with tom perez. President trump has been bragging about how the stock market has performed since he was elected. How a relationship between his agenda and the stock market. This is bloomberg. David this is Bloomberg Markets the trump economy. Well Senate Republicans have embarked on a unpredictable and potentially chaotic floor debate on health care, the rest of congresss to do list has not gotten shorter. Oliver brought some charts. You are drawing challengings more to do charts with politics, but as you guys pointed out, it is difficult to assess how much of the market gain since the election has been trump and whether or not it is still going on. A lot of people have gone back and try to rewrite the narrative. Regardless, there is something very clear that happened in november. It was an expectation for a new type of government that was seen as business friendly. It was an expectation for spending from the government in a way that would make make a difference for companies. The question is how do we feel now and that is where the first chart comes in. This is a look at a intraday chart of the s p 500. This is the comey email revelation act in may. You saw an immediate takedown in the market, right around the middle of the day, may 17. This was about a couple weeks ago when we have begun jr. When we had the john had the don jr. Emails,. There are Market Participants who are watching this and react. The only problem is given how much we have talked about what is happening in washington because there is so much that is unprecedented, what it does not match up with is the volatility. We have another chart that is looking at actual political volatility in markets. This is a index that we track and basically, it is looking at the number of instances of geopolitical surprises. Available on the terminal. If you want to take it over. We will bring it up to date. Year to date. Look out flat that is. It is pretty incredible. You can see the bump in january and november. It has not done much. There has not been anything from a markets perspective that has made them think about what is different. David help me understand the psychology of Market Participants. How much credence or important is getting through this lengthy congressional agenda . Oliver i think it is going to be very important. While a lot of folks say the trump trade has generally died out and their hopes have been dashed somewhat, there is still part of it built in. You see it when you look at financials and when you look at these other industries. These guys on days where emails, or there is something new about the russia investigation. They say i still have faith that this is going to be a more pro business friendly environment. There are a lot of people on wall street that are protrump in terms of their own political views and they are able to look past a lot of this stuff that is going to hold other voters back at center because they think about what this will mean for companies. Nothis legislation does move forward and health care falls through, i think questions will remain but it is about taxes and regulations. If that does not happen, it will mean trouble for the market. David oliver renick, also coanchor of bloomberg businessweek. The show is centered on the newly redesigned magazine. It airs every saturday and sunday on bloomberg television. Up next, the drama surrounding Jeff Sessions as President Trump continues to lash out publicly. We will bring you the latest, next. These days families want to