tv Countdown to the Closing Bell With Liz Claman FOX Business January 23, 2019 3:00pm-4:00pm EST
any one name, but some are up, some are down. it didn't really move the market all that much. charles: thank you very much. the dow is up 95 points. we have been through a roller coaster ride and it's just beginning. liz claman, you have the most exciting part. liz: how about it. what do you think? suddenly we're up again. pretty impressive. charles: it really is. i was impressed with yesterday's down 300 points day. even though it was down 300, it showed resolve. liz: i don't know. i was kind of thinking if the market were a hospital patient, it's been revived for the third time. as we head into this final hour, we should remind you the strong earnings reports from some of the bluest of blue chips juiced the markets but then hours later, we have a complete reversal. team trump warned a few hours later that gdp could hit zero during the first quarter due to the government shutdown now in day 33, so we lost that air. moments ago, president trump speaking at a roundtable at the white house on high health care costs so the market is up.
he said he's not surprised that nancy pelosi, the speaker of the house, has pushed back on his request to hold the state of the union next tuesday, the latest on the shutdown straight ahead. meanwhile, the extradition of huawei's chief financial officer meng wanzhou to the united states may not be a done deal. canada's ambassador to china goes on youtube to say the executive arrested by canada but accused by the u.s. of violating iran sanctions may actually have a strong argument against canada handing her over to u.s. authorities. the international scandal forcing many companies with operations in china to be on high alert, including canada's elite brand of extreme weather gear. bain capital was the one that brought canada goose to its hugely successful ipo. the co-chairman wearing a canada goose jacket and joins us from the snowy alps of davos, switzerland on how canada goose is faring in subzero diplomatic
temperatures between the u.s. and china. brooks running ceo jim weber also depends on china for his production. is he considering kicking up his heels and moving operations to the u.s.? we will ask him in a fox business exclusive. less than an hour to the closing bell. charlie has some scoop out of davos. people going out of davos. let's start the "countdown." liz: we have some breaking news. a very serious situation is developing at this hour in venezuela. we just got this tape in. security forces are firing tear gas at opposition demonstrators who are blocking the highway in the capital. the country is inflamed as opposition leader today declared himself interim president in a bid to end maduro's tenure. maduro accused of violent
tactics against those who tried to end democracy in the embattled country is under pressure as thousands take to the streets. just minutes after he declared himself head of state, president trump announced the u.s. recognizes him as the interim president. meantime, we bring it back to the united states. we have a volatile session in play on wall street at this hour. the s&p 500 and nasdaq can't really seem to make up their minds if they want to be up or down. for now, they are down but the dow is a solid shade of green, up 119 points, propped up by blue chips. ibm, united technology, procter & gamble combined are adding 130 points to the dow jones industrials. we should look at oil, though. oil has been in the red and we have it trading down as the european union is potentially bypassing u.s. sanctions against iran. reuters is also reporting that the eu may work out a non-dollar
denominated trade with iran. currently oil is traded in u.s. dollars. meanwhile, fed ex and ups, not delivering gains to investors today thanks to the amazon effect. "wall street journal" reporting that the e-commerce giant which is rolling out its own delivery network, is now trying to woo shippers from those two companies which are down 1% and 2%, by offering lower delivery fees. yes. amazon is now a delivery company. at least it's trying to be. amazon flat on the session. the state of the union is still shut down for a record-shattering 33 days now. but this just in. speaker of the house nancy pelosi responding to president trump's request to hold his state of the union speech in the house chamber next week. this is how the president had requested a couple of hours ago that he give his address in a letter to nancy pelosi, it came out this morning. here's a quote. i look forward to seeing you on the evening on january 29th in
the chamber of the house of representatives. it would be so very sad for our country if the state of the union were not delivered on time, on schedule and very importantly, on location. to edward lawrence, edward, what is the speaker's reaction? reporter: you know, at this point she's saying she's not going to consider the resolution to bring essentially the formality to allow the president to come into the chamber. she told, in response to the minority leader in the house, she said she's not going to even consider that resolution going forward so kind of holding this over the president's head at this point. again, they can do that resolution day of, but at this point, there is also a new democratic plan coming out of the house that is sort of grumbling and trying to take form to reopen the government. this one would reopen the government and allow $5 billion for border security with the stipulation that none of it be used for a border wall. house speaker nancy pelosi has been adamant about the fact she will not support a wall at all.
in fact, tomorrow, two plans in the senate now will come up for a vote. the senate majority leader mitch mcconnell bringing the republican plan up which reopens the government, $5.7 billion for border security, including a wall, also concessions on immigration. he will also bring up a democratic plan that funds the government, reopens the government, but kicks the can down the road to february 8th on funding for department of homeland security. >> these two votes are not equivalent. it's not on the one hand, on the other hand. the president's proposal demands a wall and radical legal immigration changes in exchange for opening up the government. the second vote demands nothing in exchange for opening up the government. reporter: those radical changes he's talking about would just be an extension, three-year extension for daca recipients. we will go back to you. liz: okay. keep us posted, because this
seems to be a two-way communication -- they don't seem to be hearing each other. reporter: exactly. liz: at least they're communicating. edward, thank you. the shutdown, the economy, the state of the union, venezuela unrest we just showed you, it's all on the table right here, 8:00 p.m. eastern when trish regan conducts an exclusive interview with vice president mike pence tonight on fox business. all right. we are watching the s&p 500. it so looks like it's just about to turn positive. a second ago it was down just a third of a point so it's really kind of right there. it's hard right now for the moment for a lot of companies to see green signs. why? because you had the top economic adviser to president trump who is now saying that we could see, it could be possible, zero gdp growth for this quarter if this shutdown continues. but yesterday, allianz's top
economic mind, mohammad el-erian, right here on fox business, when asked whether he agreed we are facing a really difficult time, here's what he said. >> i think the u.s. economy is in a really good place. just look at the last labor report. the u.s. economy produced twice as many jobs as people expected. wages are going up by 3.2%. people are coming back into the labor force. liz: to the floor show right now. i just want to know, guys, is now the time to batten down the hatches or keep investing? teddy? >> well, i think we have been battening down the hatches for three or four months now, with all this uncertainty out there, whether it's the economy, geopolitical, tariffs or the fed, clearly there's a lot of unknowns and markets have trouble and difficulty with unknowns. but battening down the hatches means different things to different people. i think cash is king. it's probably smart to kind of stay on the sidelines here and let the dust settle.
at the end of the day, there is always opportunity and as investors with long-term horizons, these downdrafts, you create opportunities to put some money to work for the longer term. liz: teddy, investors should always be nervous? that means we should always carry clonopin? i don't want to always be nervous. >> i have been nervous for 52 years and i'm still standing. i know a lot of people that aren't nervous that are long gone. i dhiepg think keeping an eye o exit is always a good idea. liz: okay. phil, let's get to you in chicago. i know you guys in the midwest aren't as anxious and nervous as the new yorkers are on wall street but tell me how you see it here. >> you know, listen, i think mohammad el-erian's got it exactly right. you look at that jobs number, it was explosive and it really throws an egg into the face of all the doom and gloomers we are hearing about the economy. listen, you look at the imf, the
market acted terribly. we're going from 3.7% growth to 3.5% growth. we would have killed for 3.5% growth globally a few years ago. yeah, there are some headwinds in the market, but most of these problems are not insurmountable. they are very easily solved. if you look at the government shutdown, when the polls start to blame both parties, we are going to get a deal, it's going to happen. i just know it is. it's moving that direction. fu lo if you look at the trade war with china, we are making progress, china is buying soybeans. they are telling us the communist party may not survive if the economy doesn't grow so they will be back to the table. in the meantime, you can get caught up in this negative feeling and you do miss out on good opportunities. but i have to tell teddy, i do still get nervous. >> thank you. thank you. liz: thank you so much. teddy and phil.
well, both sides in this china/u.s. trade war are out at this hour though showing optimism a trade deal can get done. but will it come in time? the trade battle ruffling one retailer's feathers. just as it attempted to spread its wings to the chinese consumer, shares of one of the hottest high end names in winter apparel getting all caught up in tariff tiffs and the tit for tat when it comes to dan acanada an china and the diplomatic battle. up next, canada goose's biggest backer, bain capital's co-chair on the international political brouhaha adding turbulence to the flight path. or is it?
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liz: okay. to the s&p, now down the tineiest fraction of a percent. let let's see if it can turn positive. depending on the day, a u.s./china trade deal takes one step forward, two steps back. today it looked like it was two steps forward. first, white house economic adviser kevin hassett said he's confident the two countries can and will reach a trade deal by the march 1st deadline imposed
back on december 1st at the g-20 meeting. second step forward, china's securities regulator revealed in davos he thinks there will be a trade deal between the u.s. and china because quote, donald trump measures his own success by the rise and fall of the u.s. stock market. but the step back, the u.s. department of justice standing firm on xextraditing huawei executive meng wanzhou who was arrested in canada at the u.s.'s request, accused of bypassing sanctions to sell networking equipment her company makes to the iranians. from the moment she was arrested, chatter in china about boycotting canadian products started to bubble up in state-run newspapers. one target, extreme weather outerwear giant, canada goose, which bain capital invested in back in 2013 and brought it public four years later. to davos, switzerland, where we are joined by bain capital co-chairman, stephen pagliuca.
canadian brands might eventually be what gets hit by collateral damage in this battle between the u.s. and china and shares of canada goose have pulled back since then. how closely would a rebound depend on both a resolution to both the huawei situation and a trade deal between the u.s. and china? >> i think the bigger picture is resolving the whole trade situation and hopefully there's enough on the table for both sides to do that. obviously it's a big trade issue and i think there are exports into the u.s. of about $500 billion and that's a big number, and we export $130 billion, so i think both sides want this to happen and it will probably happen as a package deal. hopefully we will get through that, because with brexit and all the other economic things out there, it's just not good to have that uncertainty. liz: not at all. then you have the uncertainty of china's economy. china's 2018 gdp was just reported over the weekend, slowest in nearly three decades. up until now, the rising middle and upper class chinese, were so
to speak the goose that laid the golden retail egg. they loved these golden goose jackets, when it comes to canada goose. are they scaling back? tell me about the sales you're seeing. >> you have to say their progress over the last 20 years has been unprecedented and they have kind of gotten through almost every blip that's been out there. and they are very smart folks and i think they realize what's at stake and so do we. i hope clear minds will prevail. i'm hearing that, that these talks are going the right direction. liz: i was just in paris and i went to the paris flea market and there were so many knockoffs of all brands, hermes, gucci, but i saw a lot of knockoffs of canada goose jackets. i would only imagine that's happening in china, too. is that an issue? how are you guys tackling that problem? >> well, the company has a robust policy to try to prevent that and they are working with various agents and governments to do it. the good news is fundamentally, there's nothing better than a
canada goose jacket so they really can't knock off what really the product is and consumers are smart. so many are buying those, they are not getting the quality or turning them away. it's very hard to kind of replicate the warmness. as you know from being in davos, five, six years ago i started wearing the coat. it was the first time i was ever warm in davos and could talk articulately in interviews when it's 50 below behind me. liz: bain has been in retail for decades but retail has changed. having gone through what you guys did with toys "r" us bankrupt, gymboree, what must any investment you and bain make in retail offer today before you put money behind it? >> well, we have really got to look at the impact of the internet and technology on every business, including retail. every firm today has to be a technology company fundamentally, because it affects the supply chain, distribution, retail, and all those things included.
the positive is that we have invested in a lot of things like blue nile which benefit from the internet bump and have experts in that, and we can transform businesses and get them more online. liz: you were warned a year ago at davos to proceed with caution when it came to investing in 2018. you were spot-on. what did you see then and do you feel the same or different about this year, because we are getting headlines out of davos of everybody being completely terrified of a recession. >> i think the longer we have gone without having recession, there's obviously more probability. kind of the issues they are talking about here that could bring us into more problems are will there be a hard brexit. that's a big discussion topic here. the second topic would be how long does this trade war last. the third topic which is a little less talked about is the fact that many of these economies, including the u.s., have big national deficits now. so up to $troo trilli22 trillio. we are at $22 trillion now. that was probably okay when interest rates were kind of --
treasury was paying less than 1% for the debt. but as that goes up, if you look five years from now -- liz: it's horrific. >> so there's got to be some concern there. that being said, the united states economy is still going strong, but i would say again, the watch word for bain capital is proceed with caution and really look at businesses we can fundamentally transform and change, but plain vanilla businesses, you can count on the multiple going up, not going to happen. liz: great to see you. i miss our times at davos, holding the gigantic wheels of cheese. >> well, if i had room in my suitcase maybe i can bring you back a small wheel. at least you're there in 72 degrees climate controlled. they gave me water here and it was frozen. liz: i will take the briere. we talked about so much more. as if he's not doing enough, he's also the co-owner of the boston celtics.
find out what he thinks about the way the national basketball association is handling gambling when it comes to the sport. an online exclusive you can find at lizclaman.com. we will have more from davos tomorrow with vladimir putin's banker. yes. vtb bank's andre costin. a lot to talk to him about. stay tuned for that tomorrow. to earnings. i have a question. would you get excited if a company you owned reported revenues down 3% year over year? with the closing bell ringing in 38 minutes, ibm investors must be so beaten down that they are jumping for joy over this. they are sending ibm skyrocketing 11 bucks to the top of the dow 30 heat map. fourth quarter sales, while down, yes, 3%, still beat estimates. plus big blue did issue an upbeat outlook for 2019, so the stock is bouncing on the leap of faith. tesla stock, grounded in the final hour of trade, just as the
company reveals it's reducing production hours of its model s and x. rbc is predicting the elon premium swirling around the always colorful ceo elon musk has quote, come and gone so it's cut the stock to underperform. it's down 4%. plus short seller david einhorn piling it on, calling out tesla in a letter today, saying supply shortages will soon shift to a demand shortage. so tesla shares are currently sputtering out. we'll be right back. alerts -- wouldn't you like one from the market
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capital of venezuela, due to the fact that the opposition leader is now claiming he's the interim president, and president trump says he supports that opposition leader. you should know venezuela is a major oil producer. it is a member of opec. we are looking at oil prices which were down pretty much all day long on other reasons but you have to know venezuela, 98% of its exports involve oil, so they are heavily dependent on this. president trump reacting to this while he was having a roundtable discussion at the white house. let me get right to blake burman. blake? reporter: yes, we heard from president trump on this and a host of issues here at the white house. one of the stories today is that the white house is recognizing the opposition leader, juan guaido, as the freely elected leader of venezuela right now. we have the headlines you just rattled through of the response from nicholas maduro.
this has been an issue the white house has been taking on or at least discussing here over the last several days. it was the florida delegation, of course, who has a high interest in this topic as well. that was over here at the white house discussing this with president trump yesterday. the vice president mike pence taped a message to venezuela and to venezuelans yesterday as well, so there's been a very forward-facing presence from this white house and from this president to try to change what is happening in venezuela and to recognize now the opposition leader as the leader of that country, and as you just mentioned, we are now getting reaction from venezuela in the form of nicholas maduro. liz? liz: okay. i believe the president was asked about this when the press was inside getting some shots during that roundtable. can you give us any indication of what he said? reporter: yeah. i don't have that in front of me. the story of the day here at the
white house we have been digging into has been on this nancy pelosi response. i don't have that on me, apologies on that one. busy day over here. one of a few different topics. liz: okay. we are getting this. sorry, i didn't mean to put you on the spot there. he said quote, regarding venezuela, donald trump saying all options are on the table. military as well, brad? military options as well. he was specifically asked about that. blake, at a time when we have a government shutdown and we have got a lot of turmoil here stateside, i'm wondering, this really seems to be pushed to the forefront of the plate the president has before him. reporter: yeah. i mean, look, it's part of being the president of the united states, right? you've got issues at home that you're dealing with. right now in the form of day 33 of the government shutdown, the state of the union as well, in which there's been this back and forth between him and nancy pelosi today, the latest of which nancy pelosi saying no, you are not going to be coming to the capitol next tuesday night to give the state of the
union. the president said earlier in the day he was going to, so you got that, day 33 of the shutdown, no real movement. the senate is going to be doing its thing tomorrow, though it doesn't appear as if that's going to shake out. and by the way, of course, the white house has had its eyes on venezuela for a couple days now. liz: blake, thank you. i want to let our viewers know, you can bet that trish regan will bring this up with vice president mike pence tonight. she's got him at 8:00 p.m. eastern. don't miss that interview. all right. run out of the biggest retail market in the world, who wants to see that? the closing bell ringing in 29 minutes. american-born athletic footwear and apparel maker brooks running warning us eight months ago that tariffs could force u.s. businesses to miss out on china's retail explosion. fast forward to today. with just one week to go until the high stakes u.s./china trade talks in d.c., the man behind the shoes, jim weber, is here with his take on who's really winning and losing this tariff race.
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liz: while the fate of the ongoing u.s./china trade negotiations remains a lingering question mark, more and more u.s. companies are being forced to consider pulling operations from china due to the tariff wars, including brooks running. this is a multi million dollar elite running shoe company owned by warren buffett's berkshire hathaway. the high performance running shoes and apparel for sale in more than 60 countries worldwide including china. jim weber is the ceo who issued that warning. he's joining us live from seattle in a fox business exclusive. jim, i remember back in 2017, you told me at the berkshire annual shareholder meeting you
were so excited about the prospect of both manufacturing in and selling to china. a lot has changed since then. are you weighing whether to move your chinese operations? >> well, you know, it's really mighty right now. we would rather not. we have great people there, employees and partners but in this situation, the size of these tariffs in our category is tremendous. we have been paying on a $130 running shoe a 20% tariff since the 1930s, another 25% would make that a 45% tariff. it's just untenable. so we have to look at all of our choices. it's not -- it's an unsettling situation. liz: those numbers are stunning and i want our viewers to hear that again. 20% and 24% just because of running shoes? >> well, the tariff, if the 25% tariff is issued on the rest of chinese products, a running shoe tariff from china would be 45%.
we are selling shoes so it's been in place for a long time and this would be an added tariff on top of that. it's tens of millions of dollars for our business alone. liz: yeah, i know. these are shoes that you would manufacture, your operations, i believe you have six different operations in china. when they leave the country and come to the u.s., that's where you get socked. >> that's right. the tariff happens at the border. it's basically a tax and we have been paying it for many, many years. but this increased amount would be untenable. we would have to find solutions and for us, it's probably not raising prices because we don't think the market will sustain that and our competitors won't all go there. absorbing it isn't an option. so we are having to plan possibly disrupting our operations there, trying to keep as much in place as we can but looking at other countries. liz: i get it. okay. to other countries. i know you're in taiwan, el salvad salvador. any chance you would move production or a slice of it to the united states? >> you know, we are looking at it. liz: really. >> i think there's going to be
more opportunities to do prototype and tests but at volume, it's really not in the radar for the next five years. it's just not possible. there's so much labor intensity still in a running shoe that there's really no good options in the states in the next five years. maybe with automation down the road, but in volume it's all going to be in asia. liz: yeah. i get it. i understand. but you've got some very hot shoes that americans love to buy. you've got the ghost 11, i love these names, the adrenaline gts. what are you most excited about when it comes to the running shoe world? this as you have really kind of -- do i want to say aced nike when it comes to the running category, because i have tried both and i run much better, not that i run that much, but brooks seems to be better padding and better support. i love nike for the look but how are you taking on the big boys in this market? >> you know, it's interesting,
there's an old cliche that consumers are in charge. oh, my gosh, is the runner in charge. the intensity of focus we have on what's going to make you run better, mile after mile, comfort fit, protection, et cetera, we have been at that game for decades but in the last two years, we doubled down in performance. so the shoes you mentioned are literally driving our sales. but we grew 26% last year to an all-time record 644 million all in premium performance running products. it was almost all market share. so you know, we are so intensely focused on the customer, i think that's the key to our success. there are so many opportunities i think for brands in the broader athletic footwear and apparel category. we picked our spot and i think runners are responding. liz: and that's why warren buffett bought you. he loves these niche businesses that are best in class. i'm just curious, have you talked to him? i know you don't report directly to him anymore. it's greg abel now who is in charge of a lot of the companies. but have you talked to him or heard from warren about this trade war? what's his stance?
>> you know, i haven't. but i think we are all watching it and you know, my own view is that, you know, global trade is so important to keeping the pie big. how the pie is sliced up, there are big issues in trade that need to be addressed. but my fear is that, you know, we curtail the excitement and demand for american brands all over the world, and people all over the world love american brands. so you know, i'm hopeful that we can settle it out because the opportunities we have to build our brand in europe and asia are just tremendous. we want to continue to do that. liz: maybe just keep coming up with designs like these. you are hugely popular, ugly christmas sweater running shoes which came out in december, how did they do? i was jumping all over it. they got bells on them. >> it's really been -- what's been so fun is a lot of the holidays have fantastic runs, fourth of july 5ks, but the jingle bell 5ks are maybe in
every major communities and city so we created this ugly sweater shoe and who knew. they sold out in 48 hours. we had none left. it's just a fun way to experience some of these running events that are happening all around the world. liz: sold out in 48 hours. maybe you will bring them back. bring them back next december. good to see you, jim. thank you very much. jim weber of brooks. we've got this breaking news as we are very closely following the developments in venezuela at this hour. let us set the reset button for the moment. nicholas maduro, the president, has warned u.s. diplomatic personnel to get out. they've got 72 hours to get out of venezuela. meanwhile, president trump has endorsed the new interim president, juan guaido, who has declared himself the new president. security forces are firing tear gas at thousands of opposition demonstrators that are gathering in an attempted takeover. i don't know if you want to call it a coup but breaking here, an
interview with trish regan that will be airing later tonight in full, vice president mike pence spoke to trish about venezuela's new president. let's listen in. >> today, freedom broke out in venezuela with the recognition of the new interim president, juan guaido, a courageous man that stepped forward, president of the national assembly that took the oath of office and i couldn't be more proud that at president trump's direction, the united states of america became the first country in the world to recognize president guaido and now many other nations join us as well. but the real work lies ahead. and the united states is going to continue to bring the full weight of our economic and diplomatic pressure until freedom and democracy and fair elections are restored for the people of venezuela. liz: and in the last hour and a half, the president donald trump has said that all options
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liz: we've got more breaking news, and these headlines just hitting the tape. you've got to stick with me here because there are a bunch of them. i will put on my glasses. sorry. number one, venezuela's president nicholas maduro under fire by the opposition and by multiple protesters right now. can we put up that video of the tear gas being shot around? he is calling on the military that he controls, apparently, at least he did up until now, to maintain quote, unity and discipline. donald trump has just reiterated that his administration is exploring cutting aid to central
american countries, including honduras, guatemala, el salva r salvador, doing nothing on immigration, but he's also said at the same time he completely supports the opposition group that is now trying to take control of venezuelan leadership. we've got multiple stories here. immigration and venezuela, and of course, i do want to just mention that the violence that's happening right now on the streets of caracas, remember 2018 you had serious, going back to january, serious protests in venezuela. you have people starving to death, looting because they can't find any food to eat, and this government that absolutely cannot control what they're doing because they are breaking all rules of democracy. i want to get to charlie gasparino on these developments. you think it will affect our markets at all? >> no. liz: okay. moving on to your story. by the way, as soon as we get any details from the white house on this, we will bring them to you. >> i should answer that
seriously. venezuela was a huge, huge oil producer. an opec member but its economy, listen, this is much needed for the economy of venezuela. it has almost no impact on our markets. although we do have the world economic forum going on in davos which i'm sure this will be brought up. couple things on that before i want to get to comcast news. liz: just a break from their usual panels. >> of drinking swiss miss. you know, here's the thing, liz. this year from what i understand, because there's a lack of political leaders there, trump has -- they are not boycotting, they are skipping it. we have a government shutdown here. theresa may i believe is not there. there are not many political leaders there. because of that, this is a conference people are leaving rather than going to. so it doesn't have the impact. so i'm just saying, there's a lot of ceos there. it's good to hear from them every now and then. liz: comcast ceo there? >> no, he's not. now let's get to comcast. fascinating story. comcast stock is way up today. liz: 5% to the upside.
>> here's what we know behind the scenes. the government, federal government, antitrust division of the justice department, is still considering an investigation into them following the american cable association lawsuit which says they engage in anticompetitive practices. the one thing that's holding it up, this is very interesting because by now, you know, you would think the government would have met with the aca already and sat down and decided whether to go forward with this or not. it's unclear. one thing that's holding it up is the government shutdown, that there was a meeting set up between the federal government, between the doj's antitrust division and the heads of the american cable association, that meeting was set up, it was postponed indefinitely because of what we have here. so i would just say this. you know, comcast had a good quarter, good company, good firm, they do have a threat still in the white house. there was some reports out there that said the trump administration was going to pass on investigating them. remember, they came under investigation by the obama administration.
they went into a consent decree when they bought nbcu. the trump administration has some problems with whether they followed through on that. there's been a lawsuit. now it becomes time that the government has to decide whether to go forward with an investigation. i will tell you that the aca lawsuit sparked them to look into it. it's been delayed by what's going on in washington right now. liz: speaking of washington, we want to go there right now. remember, i just told you that president trump has wrapped a roundtable but is making all kinds of comments on immigration but also in the situation in venezuela. as we roll that tape, here's the breaking news with the dow jones industrials up 154 points, the president is meeting with conservative leaders right now. >> lot of great friends and mr. vice president, thank you, and secretary nielsen, thank you very much. we're doing a great job at the border considering we don't have the tools. they don't give us the tools to work with, meaning we have to have a wall. we have to have a barricade of some kind, a steel barricade. it's already designed. we're building a lot of wall as
we speak, a tremendous amount, and we're renovating a lot of the otherwise by the way with what's coming up, because of the strong economy that we have, we haven't had an economy like this i guess in over 50 years, would you say that's correct, steve? and because of the strong economy, everyone is pouring up and we're stopping them but it's a lot of work. we have incredible people at the border and you have to think all of the border patrol agents and the i.c.e. agents i see in long island, they don't want i.c.e., the radical democrats don't want i.c.e. there because they're too good, they're doing too good a job, and i always talk about long island, that's one of the real hotbeds for the ms-13 gangs, and i just see this morning where the really radical democrats don't want them there, because they don't want to do anything to disturb ms-13. when you think about it, ms-13's about the most violent gang, they're saying one of the most violent anywhere in the world, and they have done, we are sending them out by the
thousands out of our country. so we think it's too bad. but i would say this, that the state of the union speech has been canceled by nancy pelosi because she doesn't want to hear the truth. she doesn't want the american public to hear what's going on. and she's afraid of the truth. and the super-left democrats, the radical democrats, what's going on in that party is shocking. i know many people that were democrats and they're switching over right now, they're switching over quickly. so i hope they know what they're doing for their party. so far, they haven't. if you know, i won the senate, meaning we won the senate all together, but we get no credit for that. they don't talk about that. they talk about the house. i didn't have any chance to, other than a couple of people like from kentucky, where i won a campaign for some others, they ended up winning their races but i couldn't campaign too much. too many people. but we did a great job with the
senate. and people don't want to talk about it. i will say that the american people want to hear the truth. they have to hear the truth. the truth is all about and said, and i hope well, we were planning on doing a really very important speech in front of the house and the senate, supreme court and everybody else that's there. it's called the state of the union. it's in the constitution. we're supposed to be doing it and now nancy pelosi or nancy, as i call her, she doesn't want to hear the truth and she doesn't want to hear more importantly, the american people hear the truth, so we just found out that she's canceled it. i think that's a great blotch on the incredible country that we all love. it's a great, great, horrible mark. i don't believe it's ever happened before and it's always good to be part of history but this is a very negative part of history. this is where people are afraid
to open up and say what's going on. so it's a very, very negative part of history. i would like to start today, we are talking about shutdown, we are talking about some conservative values. these are the great conservative leaders of our country and they have strong views and we will be doing that after the press leaves but they have very strong views on the shutdown, and it's not that we have a choice. i don't think we have a choice. we have to make the country safe. we have done such an incredible job with such poor tools. we have catch and release, where you catch somebody and then you have to release that person into our country. we have so many different elements of rule and regulation, it's a very sad thing that's gone on and this has happened over a long period of time. you take a look at the visa lottery, when there's a lottery, do you think they're putting their best people into those lotteries? it's a lottery. you know what a lottery is. does anybody think they're
putting their best people in? you have chain migration. where as an example, the killer, the man who ran over people on the west side highway in new york, eight people killed, 12 injured, and when you say 12 injured, nobody knows how badly injured they are. this isn't like they had a headache. this is big, big and horrible problems. loss of legs and arms and worse. and this man brought in many people. many, many people. through chain migration, it's called. so these are all democrat principles that are no good for our country, they're hurting our country, and if we did what we had to do, you would bring crime down in half in our country because so much of it comes through our southern border. honduras is doing nothing for us. guatemala is doing nothing for us. el salvador is doing nothing for us. and we pay them hundreds of millions of dollars a year but.
we're looking at it right now. we don't want to do it. because when caravans form in the middle of a country the country can very easily stop those caravans from forming, very easily. i actually think they encourage the caravans because they want to get rid of the people from their country, and certain people. a lot of gang members are there. the last caravan we had 618 people with criminal records, and some of them very serious records. i won't soon for get the man that was interviewed where he wanted some kind of a pardon or whatever when he came into the country and the network person said, well what did you do? and he said, murder, or something to that effect. and he goes, whoa, murder. well we have, that's what we have. we have a lot of very dangerous people that want to come into our country. we're not letting them in. we want people to come in based on merit.
we want people that can come in to help us successfully run all the companies pouring into the united states because of what we've done and because of all of the incentives that we've given. and because this is where the action is. steve moore is one of the great financial gurus. he would tell you how well we're doing as a country but we have a lot of people that really we need. we have the lowest unemployment rate we've had in much more than 50 years, with african-american, with asian-american, with hispanic-american, we have the lowest unemployment rate we've had in the history of our country. that is why when you look at the hispanic polls i'm up 19%. the reason i'm up 19%. i don't think it is even the unemployment. they in fact understand better than anybody what is going on at the border. president is trump is only one saying that it is right. around he is doing i right. people are so surprised when the
poll came out with up to 50% with hispanics and up 19 points in a short party. they know what is happening and at the border and they know it's a big scam. the democrats don't want to stop people. that means automatically massive amounts of crime and we're not going to put up with it. so nancy pelosi, knowing these facts and knowing that is something she can't win, that she just went out and said, let's cancel for the first time in the history of our country, let's cancel the state of the union address and it's a disgrace. so you know, she uses on basis of shutdown, when she asked me to make the address formally in writing, most of you have a copy of the letter, when she asked me to make the address, she did it during the shutdown, well into the shutdown by a couple of weeks. so the shutdown was going on. now
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