Transcript
A (0:01)
Some follow the noise. Bloomberg follows the money. Because behind every headline is a bottom line, whether it's the funds fueling AI or crypto's trillion dollar swings.
B (0:13)
There's a money side to every story.
A (0:16)
And when you see the money side,
B (0:18)
you understand what others miss.
A (0:20)
Get the money side of the story. Subscribe now@bloomberg.com I wish I were exaggerating with you today, but I am not. Did Donald Trump and the Supreme Court just hand Republicans a roadmap to steal elections? The answer may be yes. A major voting rights ruling dropped from the Supreme Court and within an hour, Republicans were already trying to redraw maps to lock in more seats. They know they can't win by winning the will of the voters. So they're going to try to win with techniques and tactics that are on the edges of the law and would have been illegal, by the way, until the Supreme Court decision. We're also going to talk about a very blunt warning from the Fed chair, Jerome Powell, who Trump wants gone, who says gas prices are a problem, tariffs are a problem, growth is going to be affected, and by the way, inflation is creeping up. Meanwhile, there's a key detail in the White House correspondents dinner shooting that is increasingly in doubt. Officials still cannot say who fired their guns. And it increasingly seems like it may not have been the shooter. And finally, you've got to see this. A senior Pentagon official was asked a very simple question. Do you have signal on your phone? Do you, do you use the encrypted messaging app for official business? And he froze. And you can see the look on his face as he realizes this is not going to go well. All of that and more. And today. I can't believe that I have to start with this today, but Donald Trump and Republicans may have just stolen the election. And Trump's henchmen in this entire thing is the Supreme Court of the United States, one of the most radical right wing supreme courts that we have had in a very long time. For more election coverage, by the way, make sure to hit the like and subscribe buttons. We see which videos the likes and subscribes come from and that tells us, yes, cover these issues of elections more. We used to have this thing called the Voting Rights Act. The Supreme Court just gutted it in a 6 to 3 ruling. The right wing majority of the Supreme Court said no. And what they did is they struck down a majority black district in Louisiana. Now you might say, all right, well they struck down one district. What's the big deal? Why does this mean now they get to or potentially will be able to steal elections? Well, it's not quite just one district. The Supreme Court's decisions are precedent setters. Now that the Supreme Court has said that district in Louisiana is relying too heavily on race, there is the possibility of unwinding a whole bunch of other districts. Now, when we talk about stealing an election, you're right to think about the election that is just six months away. And this decision may well impact the midterm elections that are just six months away. But in fact, this is probably going to have an even bigger impact in 2028 because a lot of the filing deadlines have already passed this year. So that remains to be seen. Which election will it impact more? What is critical to understand here is that the Voting Rights act was a major accomplishment in the United States in increasing ballot access to black Americans and also in cutting down on overt racial discrimination that was taking place prior to the Voting Rights Act. And the Supreme Court has just come in and they have blown that away. They have completely destroyed that. And case in point, you might say, well, David, maybe you're just speculating, maybe you're being hyperbolic and saying Republicans are going to do something they're not really going. Well, within an hour of this Supreme Court decision, the Florida House of Representatives passed a new insane gerrymandered map, which is the Desanctis plan. Desanctimonious and has been for a very long time. This new Florida map could give Republicans four more congressional seats in 2026. Four more seats. Remember, it is a razor thin margin right now for Republicans in the House of Representatives. And so what we need to do now, I'm going to sort of skip to the answer because there's a understandable panic and despondency. Now what do we do? We need to redraw all the damn maps. What was done in California, what was done in Virginia and just a couple of other places, we have to do it everywhere. I'm not the only one who had this idea. Congresswoman AOC Alexandria Ocasio Cortez saying the exact same thing. If this is what they're going to do, then we need to redraw the maps. We have to all abide by the same rules. And so if Republicans are going to redraw North Carolina, if they're going to redraw Texas, if they're going to redraw and gerrymander every one of their states, then unfortunately, we have to provide balance to that until we get to the day where we can all finally Agree to put this behind us and pass nonpartisan gerrymandering federally, this is a key point. Okay. We on the left for the most part, I guess I, I know I agree with this and clearly AOC agrees with it and I know many in my audience do. We recognize that this entire district drawing game is a race to the bottom. It's a black hole. We are not going to over the long term improve the country big picture in a steady and robust way by having to go back and forth with these redistricting games. It just now. And we have solutions. There's a number of different solutions. You at this point we could use technology to redraw maps in a fair way and to take the drawing of the districts off the table that we know that we have the ability to do that. There are other ideas. For example, nonpartisan redistricting commissions that might have six people, three Democrats, three Republicans. They've got to all get on the same page or at least a majority, which means you need to have some bipartisanship about how these districts are going to be drawn. The idea of just whichever party is in power draws the districts in a completely whacked out way whenever they have an opportunity is not a long term sustainable solution for increasing overall ballot access and fairness. Now remember, Republicans don't want to increase overall ballot access and fairness. They're not going to be able to win elections with policies like I will lower your gas prices except they hit another new record today, which we will get to. They're not going to win that way. You're not going to convince people your policies are good. So Republicans don't want to win by increasing ballot access and having elections reflect the will of the people. They want to win by doing things like this. And for those saying, well, Democrats are doing the same thing. Yeah, Democrats really have no choice. Democrats support, have sponsored and voted for legislation to take this drawing of maps issue completely off the table. But the anti Democratic Democratic Republican Party wants to keep doing it. So what we must do is redraw every single map that we can in the immediate eliminate, eradicate the political power of the Republican Party. And by the way, let me briefly speak to my further left audience for a moment. The people to my left left, the, the socialists, the communists. Okay, a lot of you might be saying the Democratic Party is too far right. Why would I do anything to help the Democratic Party? Well, I want to speak directly to you. If you desire a real left in the United States, then help destroy the Republican Party. If you take the Republican Party out of contention and you leave the Democratic Party all of a sudden, that shifts the Overton window to the left and creates an opportunity for your true far left party. So even if you look at this and you go Republicans, Democrats, they're all kind of doing the same thing with these maps and well, if you want a real opportunity to go further left, then help eliminate the Republican Party. Because even if you say this sucks, but I hate Democrats, you would benefit from helping to destroy the modern Republican Party. So AOC is right. Let's prevent them from successfully using this to steal an election. But they're certainly going to try to do it. Fed Chairman Jerome Powell has dropped a little brutal warning on Donald Trump's economy. He just did massive, dangerous jumps of bad economic news right on Donald Trump's head. What Donald Trump and others want you to believe is that the economy has never been better, that this is an economy firing on all cylinders. But Jerome Powell has a different perspective. Trump despises Jerome Powell. Why? Because Jerome Powell does not allow himself to be bullied by political desires and simply tells it like it is. And here he is explaining that the higher gas prices that are resulting from the Iran war are reducing the disposable income that people have, which means they will spend less money on other things. This is called basic demand side economic analysis.
