People say droll powells untalented in worthless but you see how difficult it is to blast the money got it takes some skill they have to go to the college coming and. Join me every thursday on the alex simon show and ill be speaking to guest of the world of politics sport this list im showbusiness ill see you then. This is boom thats the one business show you cant afford to miss unfair montecito going to washington coming out the next president of the United States in jail and the tide it but it doesnt seem to bother wall street well explain the big rally for attack as the vote continue to mend. Fences on enjoying things today and california voters approve the proposition to keep mover and left drivers contractors will try to economics professor richard wolf about what this means for our faith we have a lot to get to so lets get started. U. S. President ial Election Results theyre still coming in with some pretty big states still in question and really its it seems like its too close to call but its one joins us hes going to walk us through it and what do we have ok so i will reserve out now with some breaking news before we get into the numbers and the states of whats happening because apparently the Trump Campaign has filed 2 lawsuits in just the last hour one in the state of pennsylvania and one in the state of michigan in both cases they are asking judges to halt the count heres what theyre saying President Campaign says it is suing to temporarily stop the vote count in pennsylvania what are they saying theyre saying that the democratic Election Officials are hiding the ballot counting process from republican poll observers and that the campaign wants to temporarily halt the counting until there is meaningful transparency and republicans going to sure all counting is done above board and by law meanwhile in the state of michigan another lawsuit has been filed within the last hour in that case the same thing the campaign claims that republican poll watchers. Not been granted access to polling locations where votes are being counted they say that michigan law requires this to happen so in both cases they are trying to halt the vote count in again pennsylvania and in michigan that is the very latest also in the last hour the state of wisconsin has gone into joe bidens column for the presidency now this according to the Associated Press thats 10 electoral votes they go to biden putting him right now at our count as to 48 donald trump with 214 electoral votes so obviously a lot going on here again the Associated Press projected that with 95 percent of the vote really a little more than 29000 votes that joe biden has won the state of wisconsin so a big win for biden there its maybe what prompted the campaign to step up and attempt to block the counting in those other states but lets take a look at the map here and see what else is going on because in georgia the secretary of state says they will get their numbers today they say by the end of the day today and then theyll be off everybodys radar right now president trouble with about a 100000 vote lead in the state of georgia also North Carolina so this whole section the southeastern section of the country very important to the Trump Campaign right now troubling to around 80000 votes in North Carolina the North Carolina state board of Elections Official explain this afternoon that they stopped counting last night because there were no more ballots to count that were thats what were told and that they are now counting absentee ballots ok up in michigan as we mentioned right now the drum campaign has asked to stop the counting there thats because joe biden leads 49 percent to trumps 48 percent but its less than one percent a 30000. 00 vote difference pennsylvania also where that lawsuit has been filed to try to halt the counting only 64 percent of the vote has been counted right now trump has a 500000. 00 vote lead but many of the votes still to be counted are mail in ballots trump has about 53 percent of the vote there compared to 45 percent of the vote vote for biden by the way were. All of that but will not be completed until at least the end of this week also out here in the west biden right now he leads in the vattel with 67 percent of the vote confirmed 49 percent to 48 percent but biden only has an 8000. 00 vote lead in nevada about 588000 votes to trumps 580000 so obviously as we said a lot going on here with the president ial map and of course wisconsin as we mentioned theres less than one percent difference in the vote tally between trump and biden there and already the Trump Campaign has said that they will ask for a recount which you can do under Wisconsin Law as long as the final total is within one percent now lets shift over to the senate races because a lot going on with the u. S. Senate now keep in mind weve heard a lot about the u. S. Senate over the last few weeks and about how democrats were going to pick up not only retain the house pick up the white house but they would also win the senate well right now heres our count falls republicans have 48 senate seats compared to democratic control of 45 senate seats within the last hour the Associated Press has called the main seat for Susan Collins with 51 percent of the vote Susan Collins the incumbent in maine she was seen as vulnerable to democrats but she has retained that seat also in North Carolina thom tillis he is the republican incumbent it looks like he is defeating right now calcuttan him by roughly 100000 votes there an interesting race is one in michigan you have a republican challenger by the name of john james hes africanamerican he has 810000 vote lead right now over the democratic incumbent gary peters so if republicans were to pick up that seat it would actually increase their hold on the senate in alaska you have dan sullivan hes a republican that race is still up in the air but not sure should be right now he has a huge lead of 63 percent of the vote without grosss 31 percent now in georgia there are 2 senate races david perdue hes leading john arse off by roughly 160000 votes looks like hes going to pick up or retain his seat hes the incumbent excuse me theres also a. Special election and thats going to go to a runoff between Kelly Loffler and the income shes the incumbent there and Raphael Warnock he is the democratic challenger that race though will not be decided in a runoff until january and also keep in mind folks you know we heard so much about the senate races Mitch Mcconnell democrats spent 100000000. 00 trying to get rid of the Senate Majority leader Mitch Mcconnell they did not do so he cruised to reelection and so did South Carolina senator Lindsey Graham so again all this talk of democrats who are going to take the senate that part certainly has not panned out it doesnt look like anything is really panned out just yet then given those numbers and given what you just said about them now trying to halter Top Administration trying to halt the count how likely is that to happen we have so many states still up in the air and question and whether or not were even going to hear from those results today or tomorrow also up in the air well just kind of a 1st blush here it looks like the trumpet ministration excuse me from campaign may have made a huge mistake by give the president coming out last night and saying that he had already won and saying that this thing was rigged because now it looks like theyre looking for any reason to stop it as opposed to the very specific reasons theyre sitting in these lawsuits which is that they dont have poll workers who are adequately able to monitor now one of the things theyre probably citing here is there was a poll worker a poll watcher in the state of pennsylvania who was turned away you might have seen the video of that he was turned away when he showed up to watch the polls and told he couldnt come in eventually that was changed he says it was because he was a republican he says republicans were given one color card to show that they were a poll watcher democrats were given another color he says thats why he was forced out and Something Else is pretty interesting here so as we get all these numbers together i got to mention something the overall numbers for this election are absolutely staggering according to the Associated Press joe biden now has received more votes than any u. S. President ial candidate in history more than 70000000 votes have gone to joe biden. Thats more than a 1000000 votes higher than the previous record set by obama in 2008 so joe biden right now sits at 70000000 votes donald trump sits at 67000000 votes National Historical election that were seeing it take place here but either way they say that their votes were halted or of the ballots not counting right now none of these candidates have yet reached that level of the number of to 70 thats going to end up at the house what are we looking at well thats thats the point right there the reason the campaign wants to stop the voting now is the excuse me the county now is if you stop the counts as theyre coming in you potentially are able to block biden from reaching that to 70 if biden picks up pennsylvania he picks up michigan its game over so that what the Trump Campaign is trying to do is halted and throw out ballots that they say are invalid and count the ballots that they claim are valid of course theres going to be a big disagreement between these campaigns as to what is invalid and what is valid but thats the goal here is to ultimately get control of that narrative before biden hits to 70 because once he gets to 70 and by the way as we mentioned out in the in nevada right now biden is leading potentially could pick that up but if you keep adding these totals eventually biden hits that to 70 and gets to declare victory and thats what the Trump Campaign is trying to hold they dont want to look like hes declared victory and now theyre reacting to that would also be very interesting to see nevada flip hasnt happened in so long thats one stay with us. But the u. S. Election results still in limbo Global Markets rally and surged on wednesday for the 3rd straight day to explain this lets go to bill thats cohost chrystia and see you know of openness to having them around the ottavio we still dont have a clear winner we just heard ben break all the numbers down at the market is rallying the nasdaq up over 4 percent today whats driving this and is this all optimism really pretty premature. Well its quite a remarkable turn of events with this kind of contested election we were seeing a lot more volatility in the markets and our pressure and tech stocks are disappearing through the roof i think whats happening there is that basically there was sort of agreement amongst democrats and republicans that there was a need to regulate big tech more and do something about is one of the few points of agreement between democrats republicans because there was not agreement on how you should regulate what you do about something needed to be. With the democrats it looks like just a few days ago they were going to take the white house and the house and therefore be able to push through their victory gender and regulate big tech much more closely thats a battery so all these negotiated winds of it take thought they were going to face or just disappear you also see that moral level proposition 2210 the formula where is votes to allow. Left to basically carry on arent people as in and contractors of so i guess big tech is looking this is really sort of a sigh of relief and saying im not going to come off this and replace more intensely and so this the ice is going through the roof of the coast state as a result. There kristie i so that you know obviously were sitting here looking at a president ial race that is inconclusive to say the least who knows how long this goes on is this going to impact even damper Consumer Spending this Holiday Season considering where the retailers are right now or is that going to be more of an issue do you think of coronavirus and what lingers there. Its going to play into well yeah retailers have faced a tremendously difficult 2021st they had disrupted supply chain lines coming from china when china suffered from coronavirus then coronavirus hit our shores and all the retailers they had to shine or lay off and then attempt to reopen again then they had to board up again and hunker down during the george floyd protest so they went quite a lot this year and now they face another threat during the all important Holiday Season which is to create Consumer Spending in the face of this problem of the election so Consumer Spending has been pretty strong during this entire lockdown and coming out of lockdown but now were starting to go into the Holiday Season when its supposed to really really pick up and so far everything has been put on pause then has been put on pause until americans get some real clarity on whos actually going to wit a recent survey from Adobe Analytics which tracks internet retailers they showed a drop in spending its very likely you know as in 2016 online sales dropped 14 percent the day after the election and then they dropped 6 percent the day after the 2018 midterms so right now im currently 26 percent of consumers said that the president ial outcome will affect their Holiday Spending so the prolonged counting of votes and also the possibility of a court battle or civil unrest has prompted me to tell us in major cities such as d. C. New york chicago and l. A. To board up their windows again so on top of that as you mentioned millions of americans are still out of work and regardless of whether or biden winning the president will likely lead a divided government which will make it all the more difficult to strike a stimulus deal for consumers and businesses. Tabio the i assume Services Report came out today that slim to the weakest since may job growth its also showing some signs of slowdown how this is affect the u. S. Recovery story in the 4th quarter a story that President Trump had said was going to be the best story of the year. Well i think were sort of very very slight. Decrease to 56. 6 from 57. 8 percent and they are still in positive territory anything above 50 percent as opposed to so it looks like things that expanding and i wouldnt read too much into one single malts operation that will get i think overall things look pretty good were not in the levels that we were. In that direction so i would expect to see the 4th quarter also showed very very strong growth strong growth this quarter but its going to come out pretty strong and i think as long as theres no lock downs going us were going to see a fairly strong economic shoot for this is a small but things are still looking at it doesnt look like there will be a lock down for that for that reason i exactly for it not affect the already hurting economy but kristie the night was full of surprises not just here in the United States but over in china the acrobat i. P. O. Was act halted it was also less than 48 hours before it was expected to be the largest i. P. O. In history what happen here. So this was completely unexpected and they left both bankers and Global Investors looking for answers because billions and billions of dollars have already been tied up into this i. P. O. Especially bankers looking for the 400000000. 00 payout with the Successful Listing so now the i. P. O. Has been halted after the founder jack ma was summoned and by the regulators who said that they had discovered an a ray of shortcomings so chinese authorities didnt give money detail about the issues behind the suspension so far saying only there had been significant changes in the Regulatory Environment and that this move was to protect the countrys Capital Markets there and i. P. O. Had created a frenzy both in hong kong and in shanghai months both institutional and smaller investors so following that whole quarter alibaba plunged over 7 percent in the hall call so the i. P. O. Is now expected to be delayed for about 6 months and the fund will be returned to the investors in the meantime but essentially this further reinforces the regulatory pressures building on these tech giants now in china and weve heard about whats happening with the tech giants in the u. S. As well so all this means that its good for banks bad for phantasy then Tech Companies like and they pose a major threat to traditional lenders regulators are now trying to tighten control in the country booming micro lending sector because right now and credit business is so huge that it now issues about 110th of all of china. And beijing sees that as a risk in the event of an economic slowdown absolutely all right very much both of you going to go to former Vice President joe biden is now taking to the podium lets listen in to what hes saying this afternoon just 90 minutes. God bless you all may god protect our troops. Thank you. So he was wrapping up right there as we get you into him but apparently he did not claim victory but he also we obviously did not concede defeat there look right now if were looking at the numbers and where they stand by the news in the strongest position in terms of moving forward he has the clearest path to 270 hes on his way to it the real question as we told you at the top of the hour really comes down to whether or not judges will grant a stay a hold if you will on the states of pennsylvania and michigan at the request of the Trump Campaign to stop counting right now so that they begin can begin to kind of survey the county how its being done and have what the Campaign Says are republican poll watchers in the room when you and i were discussing this earlier and he also is looking for a recount how likely is it that thats even going to happen that doesnt change things and doesnt usually change things so in wisconsin the recount absolutely will happen in the reason for that is because as long as you are within one percentage point which trump is in wisconsin he is at 6 tenths of a percentage point behind so yes he absolutely will get a recount in wisconsin but is it actually change thats a whole other question 29000 votes is a lot of votes typically a recount in a state like this with Something Like maybe 30025000 votes tops the chance of actually finding 29000 votes and going to reorganize in this very unlikely all we knew that neither one of them really possible planted to concede at least the National Action president now actually you know bringing out these legal cases against the states im sure there are more to come as we continue to follow those numbers absolutely well keep you updated on that. Time now for a quick break but hang here because when we return after hundreds of millions of dollars spent by hoover and left california voters are for the proposition to keep drivers of contractors talk to economics professor Richard Wolffe about what this. Means half a spark i think got a break for the number. As expected ballots are still being counted but what we do know about this election that its close in the country is deeply divided over the listeners to be learned was it enough to frame this election as a referendum on donald trump. Welcome back weve been talking all day about the president ial Election Results of the race well it continues to unfold but there are other issues that were on the ballot on election day you know one of the biggest is this socalled proposition 22 in california that proposition means that Companies Like lift and door dash will be exempt from having to reclassify their drivers as employees so what does that mean for those good workers are joining us out of this gus is a. Professor Richard Wolfe the. For being here professor wolf lets be clear goober left post mates insta card they have put collectively around 200000000. 00 into that campaign to support prop 20 which means they dont have to follow state law theres an exemption made for them that requires that they treat drivers as employees correct thats the gist of it yes absolutely this is a longstanding thats one of the Richest Companies to basically get out from. A century in the hands of a labor of protection that workers for war over the opposition of all the companies axial rears still want to try to get the protection not only for the workers who drive the cars and go on but also for the public that sits in that call at risk wifes and were writing there that what youve done is you know these Companies Want to do what we pay you dollars name tells you how much they want to make out it is allowed to be exempted and thats where their profit is their profit comes from being able to treat their workers it ways that a century or hamper of what the workers. Make impossible if you require to do you treat your workers as an employee its just that its state mechanism for the company were foster the company is told voters that they would provide Health Insurance for drivers who work 15 hours are more a week occupational Accident Insurance coverage and even 30 fans for every mile they drive among other protections that were noted is that a compromise or is it just a promise that these companies no longer have to keep. Its a promise and has no legal standing whatsoever they can say whatever they want that theyre going to do to get this vote actually they did that did make a promise to spend money by the chair and they dont want to die because if they had to do for their workers what the workers won the over the years then their profit would disappear and they wouldnt be any different from say a taxi company in terms of lift and so their prasad is how you move forward in the capital of the last sort by simply ignoring taking care of workers and then the tran missed something they like insurance if you have it believe insurance theres 800 ways of doing insurance which you could end up doing is giving them an insurance policy that is next to a huge list rather than the kind that they want and that their unions win for them in the trunk tracts thats what this is all about but there is something deeper here and you know in recent months the right sharon Delivery Companies they blasted ads and push notifications directly to drivers saying that only a fraction of them will be hired as employees fewer drivers would mean longer wait times what they were warning customers about they said that said all this and messages that were sent directly to mobile devices right the prices would rise because of higher costs associated with reclassification did these Companies Find a new way to kind of bully their message and force it onto users and force it on to those drivers in a way that were going to now see in this new kind of tech future. I dont think its new frankly then i think this is very you want to scare people into thinking they have a vested interest in the way you want them to so you tell them how much better off theyll be able to where the Company Wants are much worse off theyll be if they dont and you hope that grabbed well. You know a clever advertisement will get you through this difficult election i mean its a tragic day for the working class of this. Country so what are the rules protections for workers and leaflets against Companies Just like you were in and the list at least finally wanted now to have this legal move will get them out of having to observe what was literally a century and have struggled to reduce its a sign of going backwards in terms of the Rolling Stock of the working hours oh per professor wolf florida other say want to talk about here and highlight voted today to gradually hike the state wage to 15. 00 per hour obviously joining a growing list of states and of policies also taking a step what are your thoughts on the. Well i think its very interesting and in my judgment very positive its that even though the people of florida voted for mr trump over mr biden when it came to a real pocketbook issue what everyone can understand without all the fakery should you get this need in dollars minimum prograde rage for our everybody kind of knowledge what kind of life can you live even on so if being let alone last extends it was carefully worded and since it really will reach its being until i believe 2026 where the legislation a proposal is written this is a moderate modest way to do something for the worst paid off of the working class and to the credit of the people in florida despite the effort of so many interests to push the weight over and live it on there for the majority of the holders of florida wanted to have some kind of compassion for the for those earning so little not only florida but especially those states that are areas that are obviously way more expensive to live in what a 15. 00 probably do an hour those who are raising families even professor return wolf thank you so much for your time today and breaking this down for us. Thank you. For now catch you must on demand on the portable t. V. Up available on your apple and android form or simply check it out a portable dot t. V. See an extra. Sputnik 5 has the world. Just like its namesake the original. The forest craft to leave. Orbit the world. Many questions remain unanswered russias new vaccine the authorities are confident enough to go forward with mass production. Of the family states please when you. Do receive. Interest early in their requests. William. But see. All right this is happening all the way go and the reaction has been exactly the same as it was waved by. Journalists from the us. The world reaction is made of green cheese. Thank you. But. Its. True. If you can say someone might. Buy the small and direct means say a painting that you can then say there are thousands of other lives well my response is that the way we should think about that is just is that just as theres a child in a store experiment right there in front of you in this burning building you can say well also just thousands of children around the world millions of children on the. You could potentially state it with its light weight in the situation in being im facing a burning building just all the time. Donald trump cries foul filing a lawsuit to halt the vote counting in michigan pennsylvania and georgia and demanding a recount in wisconsin joe biden meanwhile is confident hes creeping ever closer towards the white house did not know after a long night of county its clear that we would do no states to reach 270. 00 electoral votes needed to win the presidency has the ballot tally in continues protesters march through several u. S. Cities demanding all votes be counted. And the fallout from a knife edge election could potentially drag on for days or even longer with neither side willing to concede. So well be going to the
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