ian bremmer, president of the eurasia group.we will digest the latest jobs report with diane swonk. this is "balance of power" on bloomberg television and radio. ♪ d radio. ♪ david: thi this is "balance of power" on bloomberg television and radio. i'm david westin. in the midst of a continuing drama over the election, we heard from the federal reserve yesterday and got u.s. job numbers this morning which were drunker than expected. for a review of the state of the economy is diane swonk. sooner or later, the new president, whoever it is, will have to deal with the economy. first let's talk about where the economy is. is the fed basically forgettable? diane: it was in the sense that they didn't want to make any news amidst all the news we are seeing with regard to the election. that said, there were some tiles -- tells from chairman powell. he is concerned about how inhibited the recovery could be if we don't get stimulus package. manydn't go into as prescriptive issues as he has done in the past, not wanting to step out of his l

let's get to ian bremmer of the eurasia group, president.very brief commentary from president trump moments ago? ian: he is not doing a lot of governing, right? coronavirus continues to be the most important story out there. until january 20, you would want the president to be out in front of it. that is not the case. we also have not seen a concession from president trump. in fact, he fired christopher krebs. i know that felt like a year ago but it was a week ago. with --the man insured trusted for ensuring election security. he was fired for not upholding president trump's allegations of election fraud. ultimately, it doesn't matter to the outcome, but it matters because he has an enormous megaphone, and a lot of people believe him. you have a large number of trump supporters in the country that actually think the election was rigged. that means their willingness to believe in the institutions of the united states are deteriorating. it makes it a lot harder to govern, lead by example internationally. do you think anyone is going to listen

but he has no idea how close to home for more tonight i'm joined by ian bremmer. he is president of the eurasia group which specializes in global risk assessment. and it's good to see you again. i want to pick up on afghanistan for a moment. there is talk of a purge at the pentagon right now, president trump installing loyalists who have 2 things in common. their opposition to u.s. troops remaining in afghanistan and their desire to bring those troops home. what is the likelihood in your opinion that trump will order a total withdrawal by year's end? you know, they're also really inexperienced. and the news that i'm getting indeed is that disagreement on afghanistan was a top reason why president trump decided to sort of call the top of the d. o. d. look that this is the longest standing or in american history. and president trump campaigned on many things, but one of them was bringing the troops home. so even though frankly this, this issue is not going to have any impact on the elections. and nor is he going to have any real impact on trump's level. i do think t

but he has no idea how you hope for more tonight i'm joined by ian bremmer. he is president of the eurasia group which specializes in global risk assessment. and it's good to see you again. i want to pick up on afghanistan for a moment. there is talk of a purge at the pentagon right now, president trump installing loyalists who have 2 things in common. their opposition to u.s. troops remaining in afghanistan and their desire to bring those troops home. what is the likelihood in your opinion that trouble order a total withdrawal by year's end? you know, they're also really inexperienced. and the news that i'm getting indeed is that disagreement on afghanistan was a top reason why president trump decided to sort of call the top of the d.o.d. look that this is the longest standing or in american history. and president trump campaigned on many things, but one of them was bringing the troops home. so even though frankly, this decision is not going to have any impact on the elections, and nor is he going to have any real impact on trump's level. i do think that he

i spoke earlier with ian br bremmer, he is president of the consulting firm, eurasia group. i asked why some americans look at one another with such hostility. >> i think one big reason and why you don't see it in japan is because, inequality in the united states, in so many manifestations, has grown so much. i mean, think about, not just the fact that a lot of americans have lost their jobs through free trade or through automation. and now, accelerating with the technologies that we all need for -- to get through coronavirus. think about the wars that we fought in iraq and afghanistan. and it's the poorest sections of society that we're sending over to fight in these countries. and they come back and we haven't won these wars, and they haven't been treated all that well. i think that, structurally, these things in the united states have made a lot of officials in the political establishment and the mainstream media and the ceos and the bankers, and even the scientists and the doctors that are saying you got to lock down, while people are losing their jobs. they're -- they'r

but he has no idea how close to home for more tonight i'm joined by ian bremmer. he is president of the eurasia group which specializes in global risk assessment. and it's good to see you again. i want to pick up on afghanistan for a moment. there is talk of a purge at the pentagon right now, president trump installing loyalists who have 2 things in common. their opposition to u.s. troops remaining in afghanistan and their desire to bring those troops home. what is the likelihood in your opinion that trump will order a total withdrawal by year's end? you know, they're also really inexperienced. and the news that i'm getting indeed is that disagreement on afghanistan was a top reason why president trump decided to sort of call the top of the d. o. d. look that this is the longest standing or in american history. and president trump campaigned on many things, but one of them was bringing the troops home. so even though frankly, this decision is not going to have any impact on the elections, and nor is he going to have any real impact on trump's level. i do think tha

we want to turn back to the bloomberg new economy forum with ian bremmer, eurasia group. >> we inviteou as well to participate in a global town hall discussion moderated by eurasia group founder and president ian bremmer. ian will be joined by imf managing director chris to linda georgieva -- director kristalina porat, and mike bloomberg. we employ you to send us our thoughts on twitter. we also encourage our new economy forum delegates to submit questions with the q and date have under your video player. if you are watching on the bloomberg, send me your questions on ib on the bloomberg terminal. it has been a pleasure to be your host these past few days, and i thank you for joining us. be well and safe everyone. right now i am going to hand it over to ian for your closing town hall. ian: thank you so much. great to be with all of you. we are going to spend the next 45 minutes talking about the global order in a post-covid world. a few things we know. one, the good news. acceleration of innovation, not just in response to the disease, the improvements and treatment of vaccines, but m

ian bremmer is right on that we know increasingly how long the tunnel is because we now visibility on the timeline surrounding the vaccine. in the here and now, we will see a difficult winter. that is what the markets are focusing on. a move lower and then a sideways drift for european equities. what is interesting is in the states, but we could go last monday when we got the pfizer news, equity markets have gone nowhere. in europe it is much more positive picture. the move higher, that is when the pfizer news came out. equity markets in europe have moved through that and carried on going higher. u.s. equity markets have not delivered the same thing, which is fascinating in terms of the relative outperformance we are seeing on both sides of the atlantic. both focusing on this narrative on what is happening in the here and now. it looks like we have seen a suspension of the talks. i suspect there will be a way of dealing with it, but nevertheless we have seen covid pace on the eu side -- a covid case on the eu side in those talks have been suspended. i expect downing street to get that

taylor: bear with me here. , talkingrlier today about with ian bremmer talking about this transition,his theme of america first, it came after eight years of obama. returning to stability, some of the fixing what is broken. thiswas the rise of america first theme to begin with. >> it has only been four years since democrats have been out of power. you have to go back to george h to find another president taking over for another president of the same party in a shorter period of time. they are all getting promotions to the cabinet level positions here so far. it looks very much like what an obama cabinet might look like in an obama third term. it philosophically is aligned with those obama-biden principles. areign, multilateralism, rejection of america first. you heard it in trump come out reiterate the phrase of america first, saying it away be a mistake to go from that principle. taylor: we got a nomination here of treasury secretary for janet yellen. that is at least what the markets are still focused on, the stability and relationship with the federal reserve that she provides as w

wolfgang, i want to take brexit and go off an ian bremmer yt which is every nation for itself.ery european union on brexit now or is it britain and six other voices on fishing rights, agricultural rights, the nitty-gritty of brexit. >> it is interesting. angela merkel never -- she kind of held it together by not evoking national interest. macron, the fishing industry. the question many germans are asking themselves were we right to withhold on the interest and having a trading with the u.k. en macron is threatening about the fishing. the unity held up so far. the germans kept it together quite well. but as we approach the end game and we are approaching it at some point, nobody wants to make predictions when it is going to happen. the case of covid-19 and negotiating on hold for now. there may not be a deal next eek. also emergency provisions going on and being prepared for what happens if there is a delay. they are going to keep negotiating. they are not going to let a deadline get in the way. the unity to have e.u. will at one time come under some strain unless there is a dea

speaking of weak dollar, yen 100 103.39 is really struck neri. 107.56., withg up, ian bremmer david westinalance of power." this is bloomberg. ♪ when you switch to xfinity mobile, you're choosing to get connected to the most reliable network nationwide, now with 5g included. discover how to save up to $400 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. that's simple, easy, awesome. visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. tom: election 2020. good morning, everybody. bloomberg "surveillance." as we continue, well into tuesday evening. if you're just joining us, georgia has gone positive for mr. biden by ever so a bit. under 1,000 votes but it is noted as well. there are many other stories among the five states. san francisco. he is hoping the race is decided so he can focus on chelsea tomorrow. arizona and nevada, i've been dyin

joining me now ian bremmer. it's good to see you, ian.s your reaction to the team that biden is -- the foreign policy national security team that biden is putting together here? >> extraordinarily capable, qualified. and will not cause a great ruckus in the senate. these are people that are quite well known to senior senators both democrat and republican. and they're people i personally find to have decent judgment. it's not a very partisan group. it's interesting. i agree with former secretary mattis they'll throw out america first but tony blinken who i've known for a long time, i remember putting out a piece several months ago that actually wrote about what i considered to be the top trump successes in foreign policy over his four years, almost four years and he called me up and he had taken that piece and circulated it to every member of the biden foreign policy team wanting to make sure they understood, you know, what trump was up to, how to respond to it, but also that not everything trump has done is a flaming disaster. there aren'

but he has no idea how thin hope for more tonight i'm joined by ian bremmer. he is president of the eurasia group which specializes in global risk assessment. and it's good to see you again. i want to pick up on afghanistan for a moment. there is talk of a purge at the pentagon right now, president trump installing loyalists who have 2 things in common. their opposition to u.s. troops remaining in afghanistan and their desire to bring those troops home. what is the likelihood in your opinion that trouble order a total withdrawal by year's end? you know, they're also really inexperienced. and the news that i'm getting indeed is that disagreement on afghanistan is the top reason why president trump decided to sort of call the top of the d. o. d. look that this is the longest standing or in american history. and president trump campaigned on many things, but one of them was bringing the troops home. so even though frankly, this decision is not going to have any impact on the elections and nor is going to have any real impact on trump's level. i do think that he i

coming up, ian bremmer will be joining david westin on "balance of power" on bloomberg television andit has been an interesting week in the markets. the s&p pretty much flat. the nasdaq a touch lighter, but is the story of a reversal. tech outperforming. cyclicals taking a hit as a blue wave and a contested election got priced out of the market. the big action is what we saw in bond yields. points,ow in 82 basis the selling continues, up five or six basis points on the 10 year pureed oils continues to get hit. that is a virus demand story. -- the 10 year. oils continues to get hit. that is a virus demand story. you see that reflected in the oil price. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engag

. >> i'm ian bremmer. and today, i'm taking a lo >> welcome to this world. taking a look at the largest intergovernmental organization on e planet. this year, the united turns 75, a diamond anniversary. >>> when it comes to solving the biggest issues today, has the u.n. lost its luster? i'm talking this secretary- general. >>> i will take a look at

relationship with a number of countries has hit lows over these last four years let's bring in ian bremmercrete will 'ems welcome to both of you clete since you were a former trade adviser under president trump, i wanted to start there he ran in 2016 on trade. especially taking on china we did get a lot of drama during his administration, the tariffs, the trade fights, the war of words. clete what does he have to show for it >> i think the phase one deal is a major accomplishment if you look at the deal -- i don't focus as much on the purchasing side. i know that gets a lot of the media attention. but in that deal there are a lot of structural changes that china made into its intellectual property laws. there are a lot of changes that he made to agriculture to the underlying laws that' lou for market access for the united states i think you are going to see an uptick there in sales. i also think across a whole other range of issues, the export controls on huawei, whether it is cracking down on investments you do see a lot of chinese companies that are in pain right now that are going to ha

as other stocks cross the economy trading up joining me right now to is eurasia group president, ian bremmere you this morning thank you so much for being here great news on this vaccine. your take on this, i know that you are studying globalist issues do you think there is a global connection in terms of what fpl drug means you've got european markets rallying as well. >> absolutely doesn't make much of a difference in china, because of the authoritarian capacity that ensures complete lockdown, but in countries where people make decisions for themselves around issues like europe united states, canada, experiencing serious second he wave right now, news on vaccine especially if it turns out to be 90% effective most epidemiologists i was talking to say 67% would be pretty good news for initial vaccine this would he about a big deal! keep in mind, the extraordinary record numbers of cases seeing in u.s. even more in europe right now, more tally rates are down, all down 30 to 50%, in just 8 months as we even known this exists we should also recognize, that take credit for that, a that makes it

bremmer,ecan, like ian right? kevin: gobble. this is bloomberg tv and radio. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. >> let's get to the first word news. joe biden spoke with nbc news. meetings working out with the covid team in the white house and how to not only distribute but how to get from a vaccine being to stupid to a person being able to get vaccinated so i think we are going to not be so far behind the curve as we thought we might be. karina: joe biden and his team have access to current administration officials and classified information. european commission warns that the coming days will be decisive for b