according to aei, the real crisis was not enough americans were takingg oxycontin.ect ad copy, no different from a glossy insert counting the life enhancing benefits of consumer products, in one key way it was very different. if readers had no idea it was an ad for oxycontin. they assumed it was what it claimed to be, scientific research by a well respected free-market think tank. there was no mention of funding from purdue pharma, aei kept that information to itself. meanwhile, thousands kept dying. many ironically in this country's reddest states. so a conservative think tank ran interference for a company whose products were disproportionately killing conservatives. just another day in washington. if you're starting to suspect the conservative establishment doesn't represent your n'interests, there's a reason fr that. they are every bit as corrupt as you think they are. feminism is one of the dominant ideologies in modern life, every democratic presidential candidate swears allegiance to the theory but is feminism actually making women, real women, happy? onee wo

type aei in the search box at the top of the home page. senator toomey's remarks focusing on the usmca trade agreement. you should know the u.s. house has the usmca on the agenda today. debate expected later this morning and a final passage vote expected around 1:15 eastern. you can watch that live on our companion network c-span. the senate has indicated that if the usmca passes the house, they will take it up in the new year for ratification. usmca may also be a topic at today's briefing with nancy pelosi. and certainly yesterday's impeachment vote. she holds her weekly briefing with reporters today at 10:45 eastern here on c-span3. expect more on impeachment with kevin mccarthy. he holds his weekly news conference at 11:30 eastern and we'll have that live for you here on c-span3 as well.

david: aey you made a lot of m masayoshi: yeah, $1.7 million. david: so what dido with $1.7 million then? masayoshi: well, i use to start softbank. david: so, did you move back? masayoshi: i d one more project and made another $1.5 million. so i made $3.2 million in 18 months, so that is better than $10,000 per month. david: right. i told tha gto my friends, "look, $3.2 million, "and i kept working only 5 minutes a day, as i promised you." i had to use several professors and assistant professors in my team. and i told my professor, "you work for me." [laughter] the professor told me, "work r you? i'm your professor." i said, "yes, but i have the idea. i inveed idea. "you hp me make a prototype, "i pay you whatever the hourly rate. you decide. "i don't negotiate "you want to charge me $500 a day--an hour, "or $250, $600 per hour, you decide. hater "you want to charge me $500you ask me.hour, "or $250, $600 per hour, i don't have cash." [laughte "so we make a prototype i go and sell. after i get the money, i give you 100% of the money you ask. davi

from a fellow aei scholar with that horrible environment for republicans both party voters to what the party elders wanted. it was a great opportunity we will elect more progressive candidates. especially those that were really scared he would blow the election. but at the same time the republicans nominated the most moderate candidate they had running and in doing so by going with someone with john mccain. that the biggest example is that i was convinced and i think a lot of people up here and marco rubio may have done better than to flip some of the upper midwestern states. certainly something i did not see but other primary voter saw. by off-topic shifting gears it is an interesting observation in this book and then to predict elections for the economic models. but it goes back to the 19 sixties. and they don't have very good polling and aching them on - - economic data that they rely on is sparse but before that elections like 19 oh eight were republicans held onto power handily. that election doesn't fit that mold or 1876 they don't fit that mold so one of the observations the boo

new cfo aey hired a few years ago. it has done a good job of driving that.s market would say, going forward, the idea is you look at these different businesses and you say is this going to work out? if it's not, maybe we need to kiss it goodbye even though it is exciting and it sounds good. drones, driverless vehicles, another health thing. it seems like all of their businesses that have really started to take ground, you think about youtube and google cloud platform and their artificial intelligence all being folded under the parent. you get an idea that wall street likes profit growth. they don't like cost expenses. it's an idea that going forward, google is going to be more efficient and is going to focus on driving the bottom line. that's what washington wants to see. how he do we know about views some of those offshoot companies that lose up to $2 billion per year? >> we don't have much insight. he deflected the cut -- questions about those companies. the cfo dealt with them. we can see why their investment strategy three or four years ago, they were in

health benefits which was good for employers because they don't pay taxes or payroll taxes the way aey do on the wages so it was win-win but a lot of union members ended up with generous plans and a lot of those plans would have been hit. one of the biggest issues with th thedillac tax from beginning was a 40% tax based on a dollar amount of how much the plan cost and as i mentioned earlier, healthcare costs are different amounts at different parts of the country and not necessarily urban rural, it is oddd and corky the way the systm has grown up and therefore people in expensive places were more likely to get hit with the cadillac tax simply by their insurance is more expensive. and i think they never got to the issue because it never took effect. everybody agreed the cadillac tax was probably not very workable. host: enterprise alabama, johnny is underinsured. >> caller: i am actually insured through tricare, i'm 64 years old and in one year or nine months from now my tricare and and i must join medicare. after 34 years of military service in a combat towards bronze star i have to go

they were saying in would have aey fleet of self-driving cars. go e is a long way to before it's operational. before they actually have eople in cars without a driver in the front seat. and those are day-to-day changes. the alphabet c.e.o. is -- okay, waymo this quarter.ey for the this much to google cloud. this to youtube. decide, going to here are the businesses we're investing in and here are the ones which we aren't. bloomberg, thank you for joining us. >> and coming up, the and fall ofrise weworks. we'll break down what was supposed to be one of the biggest ipo's, that's next. this is bloomberg. >> let's get to our week long series big tech 2019 look at the we world's biggest technology companies in. less than a year, weworks from a $47 billion valuation to needing an $8 to avoid fusion running out of money. at the start of the year rebrand. a big it was broken up into three lines t business wework, welive and wegrow. looking to go public in september and is targeting a share sale of 3,000.5 billion but september came and the company was sai

aey have traditionally done better job of using the court as a political tool, now that may be changing. you are seeing a lot of anti-choice laws eating brought about. moving towards the supreme court. that is going to be an issue in certain places. who isas speculating going to retire i really don't know. that may have to do with who wins in 2020. i cannot really speak to that. phillip: it is a huge issue for republicans. trump has nominated and confirmed over 150 or maybe 180 judges, this is a big issue internally within the republican party. this is a great branding tool. we do talk about this within the republican party, it is taken very seriously. -- itmp putting on his was a very transparent move, here is who i'm going to nominate and it had a big effect. if i was a democratic strategist i would say, it's a good question. democrats have gained traction by saying "here is my list of judges." that would benefit the candidate over time. host: there is still a lot of campaign you can watch and 2019 and you can watch it on the c-span network including today. a town hall inng petersburg

. >> the aey e barrier should hav been higher. when you have an election like this with such repudiation of the establishment make sure you aren't saying you people shouldn't have voted this way. william barr should be higher, not lower, no one is above the law, no one is below the law, no crime alleged, no thorough investigation done in democrat saying we are not done with our investigation. the house might continue investigating and senator schumer wanting to investigate, couldn't they do their work before they get to this point? >> anything that backfires for democrats? i would say this.t people point the clinton hearings in 98, democrats picked up 5 seats for the first time in hundred years but george w. bush got elected to the white house because he ran on saying i will restore honor and dignity to the white house. 1000 times. but for the ou clinton impeachment, the economy was going well, that is why he beat out gore by 5000 votes, that's why he won.n. >> in the electoral college that is how it works. >> not saying he didn't

aey could have empowered select committee to do that.there's nothing in the rules that says it has to go to the house judiciary committee and in the way you are taking a big risk. you had a brand-new chair, peter --ina, five new members robert jordan, me, may thorton, two others -- three. so, it was a big risk. if the special committee had been selected to vote for , then thet republicans or the president could have said you have step to the deck against me. and this way, by taking the house judiciary committee, whose members had been a pointed totally without knowing there would be any impeachment, to -- i can't speak for barbara jordan or the others. i think that was a critical decision and showed how very smart the leadership was. odino was so smart r no extraneous questions would arrive and it would all be focused on the substance of what the president did and what judgment should be made about that. how did the revelation affect the perceiving? -- the revelation of the tapes affect the proceedings? the tapes became the focus of the

killed other officers from inside the police department building chase the suspect who died in a near aeyofficer and the suspect have not been released. n motive has been found. new details following the deadly mass shooting at a florida naval base that killed 4 people inclung the gunman today community still in mourning as the fbi tries to find so answers chad petri has the story. >>many questions as the community still tries to deal th people lined the main highway outside the naval base to pay the respects. >>as the bodies of victims of past 5 sunday morning, the fbi and other federal officials held a news conference with some limited updas. officials confirm the shooter mohammad alshamrani purchased his handgun legally. the fbi said they pesume from the start the shooting was terrorism related to allow them broader investigative tools. wee also learning offials have recovered video evidence that includes video taken by serity cameras and a bystander outside. but perhaps the most stunning revelation sunday, defense secretary mike esper saying on fox news sunday. that another saudi nion

bryson.that was matt soared to aey record high this week, hovering near elon musk's goal.ou may recall that back in august 2018, he tweeted that he sought to take tesla private at 420 a share. most recent stock surge came from a report that tesla is considering cutting the price of its china belt model three by 20% or more. more on that story, i talked to bloomberg's greg trudeau. electricve a lot of vehicles and cars in general that are priced below where you see the tesla model three. when the price came out for the made in china model three, it caught a lot of people by surprise because it is not that big of a difference. the whole different -- the whole reason for -- doing they could bring the price down by avoiding import duties. you're seeing tesla make a bet here. there is going to be a natural goodwill of getting a plan open, getting government on board. there is a lot of purchases of electric vehicles in china. tesla is making a bet that the initial buzz about having the model three built in china will itself carry them for the first six months next year, then you

type aei in the search box at the top of the home page. senator toomey's remarks focusing on the usmca trade agreement. you should know the u.s. house has the usmca on the agenda today. debate expected later this morning and a final passage vote expected around 1:15 eastern. you can watch that live on our companion network c-span. the senate has indicated that if the usmca passes the house, they will take it up in the new year for ratification. usmca may also be a topic at today's briefing with nancy pelosi. and certainly yesterday's impeachment vote. she holds her weekly briefing with reporters today at 10:45 eastern here on c-span3. expect more on impeachment with kevin mccarthy. he holds his weekly news conference at 11:30 eastern and we'll have that live for you here on c-span3 as well. and a little bit later, a house oversight subcommittee holds a hearing to look at the economic impact of climate change. watch this live this afternoon at 3:00 p.m. eastern here on c-span3 or listen live with the free c-span radio app. >>> let's show yo

capitol hill fresh high earlier today for the s&p and the nasdaq we've got more "squawkll" teth bak aey'm tom er, and i approve this message. climate is the number one priority. i would declare a state of emergency on day one. congress has never passed an important climate bill, ever. this is a problem which continues to get worse. i've spent a decade fighting and beating oil companies, stopping pipelines, stopping fossil fuel plants, ensuring clean energy across the country. how are we going to pull this country together? we take on the biggest challenge in history, we save the world and we do it together. >>> european markets are closed and seema mody joins us with a look at today's action. >> jon, it's those comments from fedex's management on europe that are being passed around by traders today. while we have seen a slight improvement in economic data as of late across europe, fedex ceo fred smith flagging eurozone concerns saying the industrial economy, particularly in europe, was hit by the ricochet bullets of a u.s./china trade war and it still hasn't recovered, and germany in pa

lag on whatre is a aey added, the fed has added choice in dollars back into the market.the largest month pumping since december 2018. it only takes a couple of months to feed through, and we are seeing the largest central banks increase their balance sheets and that is helping the dollar weakened. theo not get the data, december froms of the fed, the ecb and the boj, they are increasing again. we will have a tailwind into the new year. anna: thank you very much, mark cudmore, bloomberg mliv managing editor. you can get involved in our question of the day, how involved will central banks be in 2020? up next, we look at stocks to watch including u.k. banks as the bank of england plans to lift a key capital demand the biggest u.k. lenders after they all pass the stress test. bloomberg radio is live on your mobile device or dab digital in the london area. tune in. this is bloomberg. ♪ anna: welcome back to "bloomberg markets: european open." consolidation after recent gains expected at the start of the european trading day. where will we go after? let's get a first word news

i counseled him to not listen to those entreat aeies and he did spn respond to me that giuliani was pressuring him and now we know in fact rudy giuliani and others were engaged in a coordinated campaign to get phrzelensky to interfere in the election in exchange to the white house and taxpayer funded aid. >> if i'm interpreting the scene correctly you know or you feel that president zelensky is in no position to say or complain to either one of you about what might be happening with the trump administration, so you put it out there. you say this is what i think i know about this. and in effect you're offering president zelensky among other things an opportunity to say, oh, no, senator, nothing like that's happening. don't worry about that at all, i haven't heard a word about this. nobody has said anything to me about doing investigations at all. that's what you heard from president zelensky. >> well, and i'd also had a conversation the night before with ambassador taylor, and ambassador taylor confirmed to me that in fact the work that giuliani was doing to try to undermine the embassy was in

when do you think, which is it, you are fighting, and soe direct aei, we fire for that may not win for some years but it's not just president trump. when do you think were going to get a a more pro-trade orientation? gc that three years or more like eight? i don't mean to be depressing because it's depressing for a lot of people in this room but i would add, even if republicans go back to a more pro-trade position, democrats are very likely to control house and you will not get better trade agreements through speaker pelosi. >> that's the problem, no doubt about it. we look at it historically the way we passed free-trade agreements has been very narrowly in the house with mostly republican support and very few democrats. but then with a big vote in the senate and invariably with the president supporting it, whether he's a democrat or republican. we've always had pro-trade presidents. this this is a first least pro-trade president since i i don't know, 100 years maybe. interestingly because american politics is so partisan and polarized, support for trait is much higher among democrats

aey have to hash out comprehensive free-trade agreement with the european union.to look like? we have a few clues in the future declaration. francine: is there any chance we have a no deal brexit? that has probably been taken off the table. will we get a vote on the withdrawal agreement before the end of the year? >> it is very likely we get a vote on the withdrawal agreement. he will push that through possibly even before christmas. no deal brexit is very unlikely. we have been talking about another cliff edge at the end of december. the size of this majority means he has a lot more leeway. he can do what he likes now. he is now the most powerful conservative prime minister since margaret thatcher. if he wants to ignore the erg and extend the transition or go for a softer brexit, he has the frieden -- freedom to do that. matt: absolutely fascinating indeed. today, we are asking the question on the mliv blog, what is the biggest risk left for markets? we have been talking about all of the gains that we see in equity indexes and futures around the world because of

come to you first on this german auto story because he may not think of autos when you , but it is aeik that they seem to be making. >> he pretty explicitly mentioned that china buys a lot of cars from germany. saying that if huawei is left wasof the network, that specifically mentioned. the tariffs did not go in on sunday. maybe they will get a little bit of a lift today. >> speaking of automakers, we have german homebuilders as well with some action. talk to us about what is going on in the market. about oneg for billion euro. on top of that, a stake in a german development firm. one of the top wheel estate firms. the berlin city government has been trying to hammer out this deal that has hit a lot of these companies. >> some guidance coming through. a little bit of a news flow for the fashion industry. >> the numbers are little bit weaker for sales, but it hit then this time because black friday came here in the year. to find anled auditor because the reputational risk brought with it. time, belgium looked at them and said that there were no material underreporting, but some clerica

to avoid this holiday season, let's welcome rosalynn lleyton cofounder of china tech threat.com and aeir and rosalynn, i identify with this whole segment because my alexa has never come out of the box. once i thought about it, honestly and it's just -- i'm not ready to move into the future like the rest of the lemmings now i have to worry about -- tell us about these four one at a time what do we have to worry about. >> sure. well, i have -- so for example i have a huawei phone with me today. you know, you've probably heard a lot about huawei in the news because of the network equipment, but this is a phone that you can buy, sell on amazon, but about half of all huawei phones have been identified to have a back door, security vulnerability that will allow your -- you to be watched, your data to be siffened away and you have no idea that that's going on that's one example the other would have lenova ideapad. it was once an american company owned by ibm and bought by the chinese. that company was fined by the federal trade commission last year for privacy violations where software was ins

gabbard: multiple intelligence agencies from many different countries, even aei, said they i were not developing a nuclear weapon. it is imperfect, but we need to work to strengthen it because the only alternative is not to. >> the europeans are anxious to because they want to sell uranian goods. rep. gabbard: they are also concerned about nuclear weapons. >> it just reminds me so much of the rope wed -- hang them with. but thank you very much. rep. gabbard: thank you for coming. >> good luck. rep. gabbard: have a safe new year. >> thank you. >> i just wanted to say that we support you. rep. gabbard: thank you. thank you for all your support. thank you. let's get our picture. thank you so much. you are a powerful man, nick. >> i'm trying. rep. gabbard: keep it up. thank you. close. >> resume in. -- zoom in. >> can i get a video? >> sure. rep. gabbard: awesome, thank you. thank you for being here. >> thank you. rep. gabbard: have a good new year. >> same to you. rep. gabbard: have a safe new year. >> good night. rep. gabbard: thank you. is this your daughter? >> yes. rep. gabbard: it i

even better (laughs) rianna, vote to latino, chairman of the rnc, norm bernstein, resident scholar of aei, and just the wagon of the new york times editorial board, mike cusack, editor-in-chief of the hill. that's what's up next, it's worth doing, for you then. we >> will be back at 10:30.

that case, there is never a party that has won more than make aey always have to coalition. they sit around the table before they have the coalition, sit around the table and see where they can negotiate diplomacy with each other. before they start for years in government, you already know what is coming. that is [indiscernible] more transparency. >> [indiscernible] ok. gabbard: that is thank you for your service. thank you. i am glad you both came tonight. do you live. the -- do you live here? really? >> [indiscernible] rep. gabbard: i'm glad you could come tonight. thank you very much. >> i hope you become president. rep. gabbard: we are working on that. thank you very much. have a good night. how are you? >> good, how are you? rep. gabbard: i'm very good. >> nice to meet you. what is -- rep. gabbard: what is your name? you are fantastic. i watched your interview with joe rogan and it was awesome. have you ever considered debating bernie sanders one on one? on the rogan experience? he has been on there, as well. rep. gabbard: bernie has been on there, andrew has been on th

would support anything other than following the law completely regarding your business entanglements as aeyate to electedeach one t financial disclosure which enumerates all those potential conflict of interest, and everyone has to abide by that. and if you don't, you will be afoul of the law and that should be dealt with accordingly. his businesses, as a national security issue, once again, if they are in national security issue, then that needs to be determined, and the appropriate actions taken. whether there is a penalty for that, or whether the president and his family can just be divested of that. and if there are particular instances, i am happy to listen to them, but i think it is important we don't just make a blanket statement and make the accusation, that because he has a business interest, there is a national security problem. i am not sure there is, i am not sure there isn't, but i think we have to have an open mind about that. about the emoluments clause, we have regular hearings in multiple committees on the house of representatives. being concerned about it is one thing, but

took aey realized it, it long time to fix.be on it quicker or will there even be a next time? >> they are on it come ongoing, as john knows. they are adding editing daily. they started buying treasury bills directly to add liquidity. they have done a lot. they were a little late, people feel like, to get on it. how do we get three year-end? is it going to be outsized more than normal year-end? has the fed, what they've done, is it enough? francine: is there another part of the market like with the plumbing system that we should worry about? >> i heard this in some of my other reporting and the bis mentioned it, and i don't mean it as an insult, but managing daily liquidity was a daily thing for always before the crisis. now they talk about it like, you been out ofhave practice. i don't know if that is true, but that is something to look at. tom: were you out of practice at jp morgan? this happens months ago and weeks ago and everybody goes after the big banks holding their cash. you guys were victims of regulation, the rules c

aey have traditionally done better job of using the court as a political tool, now that may be changingu are seeing a lot of anti-choice laws eating brought about. moving towards the supreme court. that is going to be an issue in certain places. who isas speculating going to retire i really don't know. that may have to do with who wins in 2020. i cannot really speak to that. phillip: it is a huge issue for republicans. trump has nominated and confirmed over 150 or maybe 180 judges, this is a big issue internally within the republican party. this is a great branding tool. we do talk about this within the republican party, it is taken very seriously. -- itmp putting on his was a very transparent move, here is who i'm going to nominate and it had a big effect. if i was a democratic strategist i would say, it's a good question. democrats have gained traction by saying "here is my list of judges." that would benefit the candidate over time. host: there is still a lot of campaign you can watch and 2019 and you can watch it on the c-span network including today. a town hall inng petersburg, no

. >> at aei and jimmy peas, a cnbc contributor.nto peter navarro's mind set you heard what he said is he pleased with the phase one deal or do you believe some of the scuttlebutt that he thought maybe we should -- i mean, he is a hawk earlier he said everybody is a hawk do you think it's a deal he's happy with >> i think what i saw in the interview is peter navarro is a good soldier i don't think he's necessarily pleased but he's not going to come on here and say that as he knows this is a done deal. he's laid out on this program a number of times his seven deadly sins and i'm not quite sure how many of those seven deadly sins are dealt with here, but i also think he's a bit of a realist. i think his statements about how he and other hawks within this administration has really changed the conversation in washington, d.c., and has changed the conversation nationally he's made the country more hawkish overall in raising some of these issues with china so from that perspective he absolutely has to be thrilled but ultimately i think he

that aey stopped that, insurance people off that can afford it.hat was the whole thing, if you can afford it you had to buy it. if you didn't, you got penalize. all of these insurance companies actually lose money because of that. they don't have the pole anymore. that, there is millions of dollars lost. i think there is difference between necessity and luxury here. paying people that are $10,000-$15,000 for insurance that are all the -- that are already making nationally people who are making 300,000 or $400,000 a year, it seems like they're the ones that are complaining about the insurance. i do not understand why. that does not affect them as much as it does people with a medium -- median income to low income. things, my wife had mentioned this. obamacare did get rid of these cheap insurance policies that these people were selling. these insurance companies were selling, that had a norma's amounts of reduction balls. -- deductibles. it didn't hardly -- line caller: i think we are -- dog eat dog. i think we're getting to the point for we are not

aey control every facet of legal crime along the border.se cartels operate in every single town along the southwest border and they are very violent. they are very dangerous. all you have to do is look at the murder rate in mexico to understand just how bad it is. the united states intelligence community has estimated that criminal cartels control somewhere around 80% of the country in mexico right now. that again is on the high-end. there are lower estimates. even if you go lower, the fact that criminal cartels are controlling any part of mexico should be concerning and it makes everything very, very dangerous. that is one of the reason that border control agents get so frustrated with politicians that say it is ok for people to cross the border illegally. --y are encouraging politicians are encouraging a very vulnerable segment of population in south america to put themselves in the hands of criminal cartels. these individuals at times are raped, enslaved, even murdered by the criminal can turn -- cartels and it is because we do not enfor

aey said that mr. trump had record in tweets yesterday, 123 -- is that correct?ost: that i don't know. caller: i think it was 123. i saw it on there one thing to think about. is a math problem. oneou are tweeting and each is over 140 characters, that is two to three minutes per tweet. he is spending five to six hours per day tweeting on the phone? that is insane. he is supposed to be the president of the united hates working for the people and the country, not -- united states working for the people and the country, not like a 15-year-old who cannot give up his cell phone. -- when it comes to the house vote coming up this week. according to the washington post web count so far, they have who have73 democrats said they are ready to support both articles of impeachment. , 60embers of the house democrats and one republican, have not said how they feel about one or both articles of impeachment, and 197 members of republicans and one democrat, have said they oppose both articles of impeachment. vote will be the taken later on this week in the house of representatives.

norm gordon's teen of aei, michael steele, former chair of the rnc. brown a common, evoked to latina, and jesse wagon, new york times editorial board. i was looking back at the states that were visited most by donald trump in the last election. not surprisingly it was ohio and north carolina, florida, pennsylvania, of course democrats wish that hillary clinton had visited wisconsin a bit more. the first question would be, if we did change the system, and norm, i'll start with you, what would be the impact of campaigns and their strategy? >> so, as you mentioned, bob, they visited the large speed it dates and i was kind of amused when senator kramer of north dakota defending the electoral college said this would make north dakota irrelevant. well, guess what? when it comes to presidential politics, north dakota is totally irrelevant right now. but let's say we had a presidential election that is looking awfully close in terms of popular votes. then every vote would count and candidates would have an incentive to try and maximize the turnout even in pla