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tv   Bulls Bears  FOX Business  May 30, 2019 5:00pm-6:00pm EDT

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connell: that was cool. we covered it all today. melissa: now to the moon. "bulls and bears" starts right now. >> you want this done by summer. >> we're in discussions as we speak. u.s. trade represent will be on capitol hill when congress reconvenes this week, in discussion with members of democrat majority, i can tell you president trump is ready to go. as soon as we believe there is a pathway forward, for approval we'll send the usmcarc tca to te hill. david: mike pence in canada speaking to our maria bartiromo, a fox business exclusive a moment ago, vice president is in
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canada, rallies support for president's new nafta trade deal, promising canada prime minister trudeau that usmcarc will get passed this summer and president could make a bold move to force nancy pelosi's hand, this is "bulls and bears," i am david asman, a busy day. joining me on the panel today, christina, liz peek, jonathan hoenig and gary kaltbaum. the clock is ticking accords to post, white house is planning to trigger a fast track process that would allow the president to send his own new u.s.-mexico-canada trade deal to congress within 30 day. despite democrat request for more time too review the deal, this would squash any attempts for nancy pelosi to delay a
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vote, speaker pelosi saying this not a positive step. canada and mexico are moving quickly on their own parts toward ratifying the deal,. what do you make of this news. >> you have canada moving ahead, because they have elections. mexico will try to ratify it through senate, late news over last, we know nancy pelosi has issued concerns about labor en forenforcements. but then "washington post" comes out with this article saying that president will use fast track, then a response from nancy pelosi within the first few minutes of this show, saying there is a lack of knowledge on the part of the administration, this is not a good sign for bipartisanship, or congress because they have 30 days to get it going. >> look this just highlights partisan game playing that nancy pelosi is engaged in. congress for the record had this deal to look at for over 6
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months, they breezed through mueller's 468 page report in a nano second, they can figure out what is in this deal, this good for farmers, if they don't ratify this nafta per sigh persh all things that are injurious to our workers, farmer and industrial manufacture everies, so shame on nancy pelosi, she needs to get this done. >> now going on 7 months tip, seems like everything is a snail's pace in washington dc right now. and we have enough uncertainty in washington dc right now that affects the economy right now. so, actually, i do not mind this fast track, but i have news, i do not think that this democratic party wants to give any type of a win to the president right now, i suspect they will fighting too and --
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toothetooth and nail, which by y i believe came by under the obama administration. david: 2015 under president obama, nancy pelosi supported that, ironically it was used to support the tpp . the deal that president trump got rid of. >> you point out, almost like nancy pelosi, just is playing politics, does not want to give the president's win or a perceived win. this is not about going to war with iran. this about trade, already the average american household spends a thousand dollar on tariffs with china, now we have trade issues with mexico and canada. sooner these issues get resolved the more money americans can keep in their pocket. david: hypocrisy is just -- liz said, took nadler about 30 seconds to comment on what mule ar--mueller said yesterday, they have been looking at this for
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months, but their are a lot of democrats, who come from states that trump won. who may not vote with pelosi on this i am wondering, you have all republicans in congress. plus what -- might there be enough democrats to vote with republicans against pelosi. >> that is the betting, there is so many people in that situation, it would pass, that is why pass has our. , if you will, to push it forward, he knows there is widespread support. david: red state democrats support the president on trade issues. >> i am that nancy pelosi was showing a little bit of here i'm giving you by saying they will go to mexico to make sure it is enforced. however, i think now that the president has done this move of fast tracking that the anger her and that side. david: she voted for fast track. >> right, and it biting her in
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the butt if i can say that. david: you just did. >> you can say it. >> butt is not that bad. david: don't listen to gary. >> think about business person they want to invest, make deals and think long-term, longer neez issuethese issued are played ou, more difficult it is for business. >> right now the enemy of the democratic party, enemy offed by whoan is leadinbiden who is leae economy is success of economy and trade deals, which hopefully would help the economy. i am worried there are going to be feet stuck in cement right now to play it out as far as as can see and do the mueller, mueller, mueller, impeachment, impeachment, impeachment deal instead of what really needs to
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get done, hopefully the fast track works. >> should system democrat add anyone extra, there is a slim chance that mexico and canada would accept it. >> it is not easy to get canada and mexico to come along with you on these issues. >> they are ready in there was a lot of hard work done on that usmca, i am wondering with china hanging over, don't we need a trade wind right now? >> that is right, it shows the world that u.s. u.s is provide, we're not protectionists. this is a good deal, to christina's point, nancy pelosi knows full well they can't start
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changing and amending this agreement, labor was onboard with this negotiation from the first day, this is hypocrisy. nancy pelosi the democrat have been on don for not agreeing to international commitments, he is trying to do that here. >> in real world, people try to do business. trade wars affects on steel and aluminum industries. what worries me is the market. we're seeing a lot of flashing warning signals. david: you mentioned real world, what does beltway know about the real world? this is a perfect example how cohen ocontrary to real world ws
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on inside the beltway is. >> if this does not get done that means china deal will lose momentum, i think they go hand in hand. all the trade stocks, ones that get affected most by trade not get done are getting squashed. whether it is boeing or caterpillar or a semiconductor, you mentioned u.s. steel. david: retailers. >> down about 70%. >> retailers are getting smoked. look out for the economy as we move forward. >> gary, you said, that is what democrats want this is their big problem, is a boom could economy great jobs market, rising wages, they would not be so unhappy to see that tempered by this action in congress. david: all right. >> i hope you are young. david: more with steve moore coming up. >> president trump teasing what he says will be biz biggest
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j.b.: breaking news -- uber, up more than 3%, in response first ever quarterly report. let's go to susan lee, why did it pop? >> on earnings call, executive both sayin say we'll stop subsig so much in second quarter. you can't sustain cash burn. also one more point from earnings call, compensation, we heard from lyft as well. as for actual metrics and the report card, it was on the higher end was scale, revenue
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beat estimates, profit is coming in line, growth grew. when to we see a profit from uber. and that is something that investors, as we inch closer to the ipo price of dollars 45,. david: all right. thank you very much. >> >> i'm going to have probably today, a major statement on the border. this is a big league statement. but we're going to do something very dramatic on the border. david: president trump this morning, promising a dramatic course of action at u.s.-mexico border, saying it will deal with people coming over from border illegally, after sources concern to u.s. app hende apprehended lt
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number of illegal immigrants. >> let's ask texas attorney general ken paxton who is here in new york, what do you want to see in president's big league plan. >> we have a crisis, run reds of thousand -- hundreds of people coming across the border there is a silence loophole, issue of children coming with their parent is a green light then no consequences. >> this is gary kaltbaum in florida, simple question from me on outside looking in. the numbers that are coming in are mind boggling, how can your great country not get together to come up with fundamental understanding with how to handle
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this. seeming we've been talking immigration for 20 years, and we're in worse position that we've been in. >> i think you are right, this an issue that we've talked about for years and years. we have a hot wh president who y trying to address this congress is the problem, they put the laws into place. they are those who need to correct this. david: i want to hoes a question for you. >> you deal with criminals all of the time. you mention people across border, to work, to work in texas, to shop, to live there. whose rights are they violating? how and what way do they violate the rights of i citizens of tex.
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>> we have people coming across the border who are traps porting drugs, and human traffickers, they are killing people. >> is there something that president trump could do via executive order to change the asylum law. that seems to be greenspan greenspan -- green light. >> i don't know, but i know that something they have looked at, that is right now loophole that everyone is advised to use if you walk across the border. >> i think that the number are staggering, you talked about over a thousand people apprehended last. last month it was 444. you have president that wants border wall then you have issue of everyone crowding the border centers, if you had to disease
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between the two, which do you address first and why. >> the people that are there flow. >> that not money for a border wall. >> long-term you have to have wall protect against that continuing to happen, this is a dual column, we need to resolve immediate crisis and how can we prevents if in the -- in the en. >> immigrant community, if you put -- go in other direction, which is catch and release, opposite direction, put it in wall, make it harder, fewer people will come. i have to ask about beto o'rourke, a month ago he said there was no problem but now he messed up, he side asylum seeking migrants when they
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connext with case managers, in a have 99 percent of leading their course race and the word ice. >> i never heard. i don't know percentage but they are small. that actually show up for second -- they disappear into the wind. >> at the time difficult to track, i don't know how they could track it. >> we don't have enough judges, given the numbers of people coming across. they don't have the resources to addresses issue, he did not be be a. >> is there anything that we're doing as a country, where people come from, we are hear stories about how bad things are, this gangs and crime and i get that fact they want to come here to this great country, what do we do with their government to maybe stop some.
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melissa: some. >> i think president trump struggled getting their cooperation, at times they cooperate, but they have not fully cooperated, i think part of reason he cut off aid. david: jonathan made a good point about workers who just came here on make work. we used to have a work guest program. >> i don't have a problem as long as congress is involved in setting up policy, there no doubt in my state we need people on tam. >> i feel like this is a -- acting homeland security secretary is in guatemala, we know president has been teasing they big announcement arm, he said he not closing the border, i wonder if maybe there will be
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a connection with some borders countries, i don't know. >> that might be a very good guess. it would not surprise me if you were right or close. >> private walls, we had a gift on, w.h.o. spend i think about 22 million dollars to put up a second of a private wall on private lapd, a half mile. smed this have a future, your feelings. >> private property, people have a right to put on their property want they want, ord naps. david: >>ing in against tens techs texs cheering, comment from federal reserve vice chairman what he said that gave stocks a boost, steve moore responding to that and more coming up. ♪ limu emu & doug
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david: stocks popped at noon on word that fed may are considering rate cuts, vice chairman saying they are ready to pull trigger to get outlook darkens, on a day we see first quarter gdp 3.1%, steve moore is joining us, steve, is it premature to talk about rate cuts with an economy growing this strong? >> you know. i have been arguing for a rate cut for 6 months. i think it is necessary. but it is -- you know rich the best guy over there at the fed, i think he has right prescription wher but wrong rea. you don't fix an economy growing too slowly printing money, i don't understand why that idea is so embedded in mind of so
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many economists, you want to cut or raise rates has to do with inflation. my complaint that the fed has been below their inflation target for 4 months in a row, look, you know he, i like to look atticanary -- the canary in -- coal mine that commodity prices. biggest threat to farmer is monetary policy, sweating down the prices of soybeans, and corn and cotton and white. we should cut rates because we don't -- we are facing deflation. >> to your pain, seems that this is a global phenomenon this fact that u inflation is below expectations, and i think that economists continue to be surprised. how do you see it changing, even if there is a rate cut, some
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trends seem really ir irk imout. >> the funds rate for them to cut interest rate on bank reserves that is had a negative effect on blan bank lending, thd can replace the economy, other thing there has been a long headed discussion about issue of inverted we'l yele we'll curve d curve that is a signal there is deflation, reason that people buy bonds at lower interest rates in future because have you high inflation, what happens? long-term goes through the roof, we have to fix that by reflating the economy, by cutting rates and reducing interest rate on
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the bank reserves. >> like you knew who i was thinking. i was about -- >> we think alike. >> to talk about yields, all over the globe, japan, australia, united states falling lower. that is tell a different story. i can make more money off a 3 year bond versus a 10 year. is there maybe a storm coming in that bond market is trying to tell us? >> well, everyone says that sign of coming recession, i say, youu are concerned about inverted yield curve, that is ease to fix put more money in the economy. this is -- not just a u.s. problem, a country of so many to the world, china trade you know situation, has cast a dark cloud over the economy.
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no question. that has slowed down growth,y estimate it could take a half percentage point off growth, but the fundamental problem, that is why i wanted to get in fed in first place, you know, they -- there is a view they can just turn the money supply on and off, som somehow that would afft real growth. david: have to switch from fed and money, breaking news, more on news on usmca, vice president pence saying that trump administration submitted a statement of administrative act to congress on canada, fast track, mexican/canada trade deal to spied uspeed up the congresso have them vote in 30 day,u trade rep. that it will attract broad
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bipartisan support. steve, you know how contentious people in congress are, how much pelosi and trump don't like each other, they are very vocal about that, is it possible you think this of animosity they could still pass a u.s.-mexico-canada trade deal. >> i think that pelosi will do nothing to give donald trump you know any legislative victory on anything. i -- but, look, i think it is the patriotic duty of these members of congress to at least have a vote, we're in a titanic struggle with china, this will be the epic battle of next decade, one way of winning that war -- it is a war against china. is to have free trade agreements with europe, canada, mexico, japan, and great britain and isolate the bad actor that is china. that is how we win, almost like nancy pelosi is rooting for the
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other side. >> why not tpp? >> a good question, i have been going back and forth on that one, there are a lot of problem with tpp and don's preference to do bilateral trade agreements, i can talk to the fact he might have made a mistake on this. david: christina is just the person to talk you into that. >> this is gar gary kaltbaum, ie central banks there is nothing that i like about them. >> socialism. >> my worry, we had 8 years of 0% rates that means all these savers got screwed, and enabled 22 debt, trillion dollar deficit, i believe that is causing the economy to not perk up to its big potential, all we're asking for is more easy
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money. >> where is the easy money. >> we're 2.5% fed fund. david: let him answer. >> if you think there is easy money, show me any inflation in the economy. if you could show, i would agree with you, but fed is below inflation benchmark, i don't believe this the idea of easy money, if you are worried about deficit, why do you want higher interest rates that increasing devestate making you know interest to pay on debt highary. david: steve, we have to go, we have breaking news but thank you, jonathan, i owe you one about pressure on speaker nancy pelosi, could plan backfire on democrat we break it down for you next. >> whole thing is a scam. a giant presidential harassment. ♪
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david: trump administration officially just making a move to push congress to fast track a vote on the us-canada-mexico trade deal. pelosi saying this is not a positive step, joining us fox news senior capitol hill producer chad, the fact that nanu nannancy pelosi was in favf fast tracking in 2015 when president obama worked out tpp deal. >> interesting, why are republicans in congress who' to move usmca fast but they didn't want to move the tpp . the administration does not have the support they need on capitol
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hill, it is about the math. if they don't have the votes they can't move it, i talked with a number of democrats i don't think that they could ever get assurances they need to vote for this. they don't have math right yet, that is why opening up this window to move this expeditious he is a problem, it hinders them, they might not have this worked out went that window of time. >> impeachment chad is still out there. debated among many democrats angry that nancy pelosi is not pursuing is more actively, where does it stand in is this a winning issue. >> probably not a winning issue, that is something democrats in house are mindful of, they are concerned about going too far down that road, i talkedded with a democrat from maryland, he is a member of judiciary committee,
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i asked him that same question about risk politically for democrat, said just because we open an impeachment inquiry does not mean it ends in impeachment, his argument is that most impeachment have not cull mated in that -- culminated in that, that is hard to parse, you talk about it on capitol hill, and trying to address other issues and a at least pivot the conversation to something out, that difficult, i asked jaime ras kin if he thought robert mueller would be subpoenaed or return to capitol hill and testify, he thought he would. >> chad, liz peek, question for you, you talked about math, what is that math right now on the impeachment process? it looks like a lot of people think that democrats could lose their majority if they go down this road? is it more favorable to them to
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have endless investigations. does that satisfy or scratch the itch they appear to have. >> math does not work for them in polling, they would rather talk about health care and other economic issues, the one thing you hear this attention focused on amendment, impeachment, there are 432 members of house 235 of deckcrat, and 44 total member of house, one republican, ash mas e for impeachment that i is 9.8%. for those who say you have all these democrats for impeachment you are a far cry from that. >> don't you need two thirds. >> no. simple majority. >> but actual to your point, we'll look at flip side, there is no infrastructure bill no
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wall funding no middle east iran deal, if you lead to impeachment and maybe the president this is you know, could get subjective with this, the president may want this, he knows he could win there would be no impeachment, it could be something toy it vert attention from -- to divert attention from the check boxes that have not been checked yet. >> this is why nancy pelosi has to finesse this. saying everything is in the open, nothing is off the table but not quite down that road, nancy pelosi did say something significant yesterday, it addressed point we raised if we go there it has to be iron clad and resonate in u.s. senate, that means 67 votes for a conviction, there have been 16 impeachment trials in history of republic, 8 time has is resulted in conviction, we had one with a
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federal judge in 2010. but it is rare, nancy pelosi is saying, we're not there yet, and she is winking and nodding. no impeachment. >> gary kaltbaum. the harvard-harris poll is 65 percent right now for no impeachment. do you think that needle would be moved say if it was 65% for impeachment? all of a sudden a bunch of democrat start to join the other 44. 44. >> keep in mind model in 1973 and 74 with nixon, there was a point where watergate committee in senate met. they thought they would not pursue this then saturday night massacre happened that is what house judiciary committee started its probe.
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would you believe vote in house of representative to thundershowers committee to start inquiry was 414 -- excuse me, 410 to 4. david: that is clear what they wanted. wanted. >> point that has to be reckoned with my nancy pelosi, it is minority for impeachment, it is a person minority. can they afford to allow that minority, to leave the party before the erge -- election. that has always been a problem with this freshman class, they are most vocal, and this is where they talk about issues side tracked. with talib and alexandria
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ocasio-cortez, and omar. you know people in democratic party are sensitive to which direction is it going, it is a minority or a constituent see iy party that driving the train. david: chad thank you very much. >> disney sent to launch new streaming service competing with netflix and apple, ceo bob iger telling fox business, he is not worried. should he be? coming up.
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david: new streaming service coming soon from disney, disney plus joining a crowded field of competitors. our deirdre bolton sat down with disney ceo bob iger. >> we price disney plus to be very accessible. we're putting on is popular product disney animated movies back to snow white. and "star wars" film, and marvel films. and all new things that we're making. i actually don't believe that price will be much of an issue for us. for people who maybe condition -- can't afford to spend there
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are $7 a month possible they will give something else up for it sure, or wait. of course, there is a lot of competition, but we have competition in everything we have done for decades, we spend more time worries about focused on what we're making and how we deliver it on the consumer, less about the competition. david: is iger underestimates comp days. >> he has to be marveling a little bit, i wish we had this competition in healthcare or education. the areas monopolized by government. this is amazing, i would bet on disney, not threat net blix or -- not netflix ora or apple. the reason is their theme parks, it is over bought but as long as
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they continue to reinvest, disney is on top. >> a great point with theme park to question that david brought up about diverse case and competition, hulu we should talk about. disney also has full control over hulu. they have 28 billion subscribers, they are geared toward adult. david: they have kids and adults. >> yes, you have espn, and hulu under the disney brand, and now young kids they will transform to future adult buyers. >> is it just about content? there a big disruption they are all banks on fact that people can cherry pick what they want to watch and when, if you have a library such as disney library there is nothing like, that i think that netflix and amazon do an amazing job at creating new
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content, but nothing can replace that library. >> iger is a visionary, a once every00 years great ceo, there is competition for our eyes and ears. there always will be, but liz is right, library is huge. it will get bigger, there is a reason why with "star wars" and other things, ump and you know you mentioned disney world and theme parks, you can hardly get in they are packed, foreigners are flocking here left and right, does not matter if it cold or raining they sell ponchos. >> here for gary, he lives in orlando, he knows that very well, amazon prime video has a hundred million subscribers because part of whole prime package, i think think that disney has to package more than old disney movies. >> the panel says about library, it is not about the library, it is, you can go see you know
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r2-d2's house go to theme park, netflix does not have you can go to "breaking bad" meth lab and try it yourself. >> and merchandise. >> next "star wars" movie before the movie, guess it will be disney streaming sign up here. >> have to jump, new help making new friends, facebook latest idea could take snooping to a new level, wait until you hear what facebook has next. drive safely.. . with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.
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to kill 99.99% of odor causing bacteria. polident. clean. fresh. and confident. david: according to a new report facebook is designing sensitive robots that could scan faces of people and animals around them to analyze their emotions. what to we think. >> you really want to know. david: yes. >> i thought facebook would be a community that we go visit. they are stalkers, stalking us every day. >> come on. >> are you kidding, robots, what is this west world now. david: right. >> if mark zuckerberg allows me
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to follow him. >> you sound like a cranky old man. >> my head is exploding. >> this is a great idea, when the ufo's land, someone needs to talk to them. david: wow, who know? >> this is an idea to help people communicate. >> you like it. >> apple tried the newton that pda in -- it was a flop, this is nature of invasion innovation, t works maybe it does not. >> facebook is working on artificial intelligence, this week they develop a robot that is grasp b objects in a few attempts, this a bigger picture, ai, however they utilize it and
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help gary make friends. >> why do i need a robot to grasp anything, i need my friends. >> i think gary is for the idea. >> that does it for "bulls and bears" see you next time. >> crisis at border, new reports coming in about what president trump has been teasing to for his big border announcement tomorrow, president considering sweeping new restrictions that would effectively block central american migrants from entering the u.s. if they transit through a country other than theiron. get ready for a big court fight, to fight for 2020, how democrat are being accused of botching it. president trump runs on prosperity and economic great. and versus a


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