tv The Evening Edit FOX Business August 14, 2019 6:00pm-7:00pm EDT
the tax could potentially work given the methane cows potentially put out in the air. >> cows aren't the problem, it's the politicians we have to worry about. melissa: the dow falling 800 points. new warnings of a potential recession. after yesterday's monster rally it was the deepest sell-off for the dow this year. in hong kong, violent clashes between pro-democracy protesters and riot police spread from one of the busiest airports on to the streets of one of the world's biggest financial capitals. the battle for the border. san francisco filing suit against the trump administration over its new rules that could make it harder for folks to get green card if they use certain
ssi programs. google employees are trying to not -- trying to get going toll not bid 0 a cloud contract for border and immigration and customs enforcement. several probes under underwear into what happened inside that jail that was holding jeffrey epstein before he died. you are looking at live pictures. authorities say multiple police officers have been shot and wounded reportedly involving some kind of narcotics operation or call. officials say the shooting situation is active and ongoing. with the gunmen on the loose after firing directly at police. hundreds of rounds have reportedly been fired. there are reports two narcotics officers are still inside the
building hold up with three prisoners. one of the injured officers is in critical condition. it's an active scene. we are going to bring you more information the second we get it. miem melissa francis in on this very busy night for islet macdonald. the evening edit starts right now. [♪] the dow plunging 800 points after the fed flashes a recession warning. reporter: red on your screen. the dow, s & p 500 and nasdaq closing low. the dow went down more than 800 points. 11 out of 11 main industry
groups on the s & p 500 closed down because of this inserted yield curve. if you look, yields on 2-year treasuries, that's a pattern that's not been broken since 2011. so a lot of investors anxious, tech, energy, financials, these were the groups that fell off the most of. it will be interesting to see what the fed does next in september. melissa, back to you. melissa: let's get to the director of operations at freedom works. john tamny. i have heard that this isn't to quote another expert your dad's bond market any longer. the inverted yield curve doesn't mean the same thing it used to mean, in the way we borrow and
use money is different than it used to be. >> when you talk about credit, you can't just talk about the two and ten year. credit is a global concept when capital flows from all points around the world coming into the united states where yield curving are not inverted. the fed is one player with an artificial interest rate. credit constantly moves to higher and lower uses. it's so tight in silicon valley you can hardy get equity financed. in hollywood it's hard to get a movie financed. to suggest the crunch in the market is road in something artificial is overstated.
melissa: some say it's a bubble in the bond market. >> it seems there is extra bidding up particularly of the 10-year bond which some would say overexcitement about that or a bit of overcaution. to me the bigger story is something trump's top economic advisor larry kudlow said for decade. when you talk down the dollar you are talking down the economy and the stock market. notice what president trump has been doing a lot of late. he has been stressing the importance of a weak dollar. what are investors doing when they put money to work? they are buying future returns in dollars. when you are talking the dollar down, you are talking down the investment returns that bring economic growth to the economy in the first place. melissa: larry kudlow has been
saying for decade about the king dollar. the president does have the bully pulpit and he has the power to talk up and down the stock market. one of the ways he's doing that is with this tariff fight. but he could declare victory and stop the trade war. the market would bounce higher and the economy would expand. maybe he's saving that for closer to the election. >> i think there is a strong argument to that. i think he wants to have some kind of big rally to point to and he would like it to be around the election. but you don't want it to necessarily play with fire. let's never forget while we are a huge market for chinese companies. apple sells a fifth of its iphones in china. gm sells more of its cars in china than it does in north
america. there are more starbucks in china than north america. if we put a bull's-eye on china's economy we are putting the bull's-eye on the american economy. melissa: we are seeing companies try to move business out of there. at this point a lot of people may man to do other businesses where. they are putting so many tariffs on our companies trying to sell there, it wasn't such a reliable market anyway. >> i think it was a growing market for the u.s. no one produces more that they don't want to consume. the people are producing feverishly. to visit china is to be
bombarded with american goods. these will come down naturally either way. probably no need for a trade war to get that to happen. melissa: violent protests parade to the street in hong kong. satellite images show hundreds of chinese military vehicles lined up along the hong kong border. this officials say means china could be preparing for a tienanmen square-type response to the protests. do you think that's what's going to happen here? >> it's hard to say. certainly the chinese authorities want to be prepared to move in if they feel they have to. but i suspect at this point they are allowing this imagery and reporting to go on to pressure the hong kong protesters to go home before the chinese have to
intervene. melissa: do you think the mainland government gives any concessions and takes the threat away from hong kong the way they moved in ominously and proposed the idea of extraditing people from hong kong to mainland china. the signal it did send, is there any possibility china take the reverse signal back to hong kong, that that's not okay? >> extra digs issue was an interning in --an internal hong. the hong kong authorities were to completely kill the bill, and formally withdraw it and say we are not going to go there, it's possible the protesters would go home and you might see a de-escalation. the chinese authorities understand that if they do go in, especially with this president, the optics will be awful and the idea of
negotiating a trade agreement may come to a halt. i doubt the u.s. government will want to sign an agreement with the chinese government rolling tanks down queens road. melissa: i am sure the president is aware of that. the internal bill that came from inside hong kong, that's one of the reasons why the people in hong kong are rejecting their local leaders. they feel they have been placed there by mainland, china. it may technically be even evene an internal bill inside hong congress but they feel like it has been put there by china. >> they are saying we are not ready to unify until 2047. that's the message they are trying to send to beijing. melissa: the city of
san francisco suing the trump administration suing the trump administration that will keep out up grants that are on public assistance. reports that guard falsified record and may have been asleep at the time of jeffrey epstein's apparent suicide. we have details next. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere.
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melissa: several developments in the case of jeffrey epstein. reporter: court documents have been filed saying the immunity provide immunity to the potential co-conspirators that helped him allegedly in that sex trafficking network. it includes four women who helped him and vague language that could prevent any co-spor from being charged nationwide.
a major lawsuit was filed against he sign's estate. former staffers. one claims epstein sexually assaulted her when she was 13 and 14. she claims maxwell was the primary recruiter. maxwell's whereabouts have been a mystery. but the "daily mail" reported she was living in a mansion with max borgeson. but he denies that and says he doesn't know the last time he saw her. surveillance cameras at the metropolitan corrections sr. sos the two guard did not check in on epstein even though the logs indicate that they did.
reports are that the guards fell asleep and went three hours without check on epstein. melissa: a lot of new details there, it's hard to know where to start. let's start with the one accuser or victim who filed suit against the ex girlfriend they are looking for and the other three staffers. how hard is it going to be to prove those cases. >> what stakes knee me a little bit, if the immunity agreement can be shown to have been made in bad faith and it's based on lies, i'm sure they will have a hard time trying to enforce that immunity agreement against other four individuals who have been
named. melissa: what would be the best thing to try and prove her civil case against those other four women. it's her word against other people who wouldn't be cooperative. >> i think they probably think they have witnesses who are not going to testify. but i believe that will change. with the right immunity agreement for those people, you can rest assured that they will be speaking on her behalf. if they have that kind of information to do so. she is -- if she is a victim at 14 or 15 years old. that's a difficult set of city, for anybody. and i have done a lot of work with victimization. women abused at that age are damaged for the rest of hire lives for the most of part.
>> it isn't actually about what happens in the metropolitan correctional holding facility. it's about what happened to these young women'. what do you think are the larger implications of holes could be punished as this went on for so long. how would you prove that as an investigator. >> look for the enablers and getting more victims to come forward. they will name the enablers. they will add dimension to the prosecution and to the incidents that may or may not have happened. and when you bring a young woman who has been abused in her teens, you are going to have some jury sympathy.
but by the same token you need to take a good hard look at that poor woman. she is damaged forever. we can look at that jeff died in the prisons, that doesn't give me any problems. that will work itself out in the bureau of prisons through firing and prosecuting them. but these poor women who have been abused, you have got to get to the bottom of that. i believe other women will come forward with some names and these people will cooperate. melissa: it's not about feeling compassion for this monster that he killed himself. but is there not a lot of faith in our criminal justice system and there are questions about how justice is administered. hoping that potentially that's the fear, that's the conspiracy
theory that this is allowed to happen because of all the people implicated in the crime. that's why people focus on that. does it disturb you that these corrections officers apparently lied in the log? what is the punishment for that? >> it's a felony. if they took a snooze when they should have been up and paying attention. when you stop and think about it. this is a man who tried to commit suicide and went back into prison. don't you think somebody would at least have an iota of common sense to make sure he was looked at periodically to make sure he wasn't going to commit suicide. these guys falling asleep and not doing their job. they will get fired, i hope, and i hope they get prosecuted. if they fell asleep and falsified their records, they are look at a felony.
melissa: this situation ongoing in philadelphia. police say multiple officers have been shot. apparently there is a gunman holed up. there are officers there who also have other people that they were arresting that they are hanging on to. it's a situation that if -- does not look to be under control at this hour. your thoughts on that. >> it's a very volatile situation. i'm familiar with police headquarters. i think if they were going out there to make an arrest, they probably had back up from s.w.a.t. and what not ready on standby. but having six officers injured already with two more in a car crash, thought it' not a life-threatening thing, this guy is still in there shooting, he probably is hyped up on narcotics himself if it's a narcotics raid.
shooting through walls and the ceiling. this is a volatile and dangerous situation for people in the building living there and law enforcement in general. melissa: bill gavin, thank you. we appreciate it. we want to take you back to that situation in hong kong. susan li is there with the latest on the ground. susan? reporter: day is breaking. overnight we saw tear goose being lobbed. instead of amassing at the airport, they moved to a rural area across the waterway. they were greeted by the police and the teargas was locked they say after provocation by the protesters directly aiming laser beams at the police force. the hong kong airport itself was the main transport artery.
reopening after two days of disruption. trying to catch up on the hundreds of flights cash selled. 1,1000 cargo lights we see every day. talking to international passengers who landed, telling them why they are encroaching on their tenth week of protests against the extraditions fighting for their freedom and democracy. concerning pictures circulating, the satellite images the state department released showing there is a buildup of chinese tanks and artillery in sin jin. it's a few clon terse away from hong kong borders. president trump said u.s. intelligence shows there ised a
buildup of hong kong military forces along the hong kong border. melissa: accidents happen is what the kremlin said after addressing the deadly accident during a missile launch that killed five engineers and spread radiation. a group of goomg employees calling on the company to not wind on a border customs and immigration cloud project because they say they are participating in malign neglect. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand
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during a nuclear test saying aeh, accidents happen. what do you make of this, general scales? >> this is typical russia. it reminds you of the cold war days. this technology putin is motion around with is extremely difficult to fulfill and it's a very, very dangerous project. this is a nuclear powered rocket ramjet that moves at hypersonic speeds. if you can imagine that technology with a fission device in the middle of it. there is no safe way if it breaks up in flight, even if the war head doesn't go off, it spews radiation over a huge area. this is putin trying to achieve a technological leap ahead of
the americans by using dangerous technology. melissa: yesterday he said everything is fine saying we don't need to evacuate. area is fine. i am sure we don't believe that to be true. but if he's work on this technology and a lot of experts echoed what you said. this something the u.s. looks at in the 50s and 60s and said this is way too difficult and way too too dangerous. could he get thissing up and running further than what we have seen here where he obviously did damage to his own population. >> what we see if you watch his propaganda broadcast. any time he shows enthusiasm after a failed event, generally speaking that program is dead. we can talk about chernobyl and the horrible disasters that afflicted the russian submarine
fleet the last two or three decades. the russians don't have a very good safety record even when it comes to conventional munitions. but when you try to create his high-risk, cutting edge technology the outcouples almost inevitable. melissa: u.s. move to put missiles' -- >> the north koreans do a rip and read and they translate an option to stock missiles in various asian countries, and out of that they get a new cold war. as i understand the program, there is no intent for the united states to put intermediate range ballistic
missiles in south korea. it's mainly a deterrent move. the north koreans are so paranoid and so frightened of what the americans might do that even just a minor underlying document out of the d.o.d. has them spun up and talking about a nud cold war. melissa: let me ask you about this buildup of military troops in shin-jin outside of hong kong. >> the first two subjects are interesting, but this is the serious one. look at all these things coming to the fore today. the 800-point drop in the dow. unlike tienanmen square as you can see on your tv screen, the
social media in china is all over this, and the hong kong people are not going to back off easily. this is a tinder box, and this type of protest movement, particularly if it extends over days or weeks, this could have consequences that could shake the markets and the world for many years to come. melissa: north korea warns at putting nuclear missiles in the ground in south korea could spark new cold war. just a chair. that a handle is just a handle. or -- that you can't be both inside and outside.
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melissa: president trump just tweeted. good things were stated on the call with china the other day. american consumer is fine with or without the september date, but much good will come from the short deferral to december it helps china more than us but will be precip pro kaitd. millions of jobs are being lost in china to non-tariff cub
tris. china wants to make a deal. let them work with hong kong first. to immigration. san francisco and santa clara county filing a lawsuit against the trump administration saying the government's move to deny green cards to immigrants who use public assistance programs is unlawful. thoughts were are fired into a san antonio i.c.e. office
yesterday. joining me is antonio garza. i would ask you first about the laws that -- the changes being proposed by the trump administration. what impact do you think that would have on people thinking about or trying to come here? what message does it send? and does it have a pronounced impact. >> i think it has a potential to have a pronounced impact depending on how you interpret public charge. you have to look at it from the standpoint of people seeking access to the country and how whether or not they would be determined to ultimately perhaps the public charge will be determined as critical. what are the factors that are going to go into determining whether or not the person if admitted will take advantage of public services. that's very subjective. other aspect is those people
already in the country that may seek permanent resident status. there how you look at public charge. is it a majority of their benefits are snub or is it a small percentage? if i'm earning 95% of my support and a small percentage is coming from the public. it's being challenged largely the change in the rule and how it will be interpreted. melissa: the devil is in the details. germany does this already. you have to take a language test and prove you can support yourself and you have to have already purchased health insurance to stay. here it many greeted outrage. let me ask you about this situation in san antonio where they are firing at the i.c.e. agents there. is it a more dangerous time to work for i.c.e. and border patrol or are we just more
focused on what's going on? >> it's probably a little bit of both. i group along the southern tbhoard texas and have knowns ice agents and bored and customs patrol people throughout my life and realize they do important and difficult work. shots being fired into the i.c.e. agency. 14th floor, 3:00 in the morning. whether it was direct at i.c.e. or shots being fired in the night, in either case it's not acceptable. i'm glad to see the fbi is on it aggressively. i think they have somebody in custody and they will pursue this and prosecute it if that's -- if they can build a case it's tough work, perhaps a bit more visible now because of the discussions we are having on immigration. but it's always been tough work.
melissa: what do you think about the employees at google who are furious with their company and don't want the company to bid upon cloud services it follows a pattern of employees doing furious with their companies for doing business with border patrol or any immigration officials. >> it's two points and i'll trying to make them quick. i think we are at a point in the united states where we have had a polarizing and contentious debates about immigration and ways acceptable in the immigration. i think it administration and the democratic leadership have been at extremes and have not found a thoughtful, sensible way to discuss the issues. and it's been reflected in the workplace. i work with yoirntion and millennials. and they want a workplace to
work for companies there where there is a certain aflienlt their values. i think you will see it in the work space as well. i think these google employees feel they are taking a stand on principle. and it's another facet of the employer-employee relationship we'll have to work through. melissa: why a pair of american billionaires say taxing the rich is not the answer and making money is a patriotic act. why so many democrats including 2020 contenders are launching separate attacks on the media and the supreme court. ♪ ♪
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melissa: the white house issuing a statement that the president has been briefed on a shooting we are watching and still going on in philadelphia. the president continues to monitor the situation. multiple police officers have been shot. the scene is still active. we'll continue to bring you any updates as we get them in that situation. billionaires defending themselves pending an op-ed in
the "wall street journal" written by one of the guise who started home depot. they write, we are forever grateful to live in a nation that promotes free enterprise which allows us to achieve our dreams. both of us are sons of immigrants who came to these shores with almost nothing. no one would say we grew up privileged. and that's true of other highly successful business owners we know. we made it the sold fashioned way. we took risks and built and invest in made-in-america businesses. how has this sent i am been lost in our current dialogue. the idea that the american dream is alive and well. it's aspirational. to keep it alive you don't confiscate what these people
have built and earned. you allow them to continue to grow the economy. how has that been lost? >> i don't know. somewhere in the background noise of this extreme left movement that moved on, we have come -- not we, but many people -- i would like to think it's the minority, have come to demonize success instead of applauding success. i happen to know john personally. i am on volunteer boards with him where he's very generous where i would like to think i am as well in hoping people who are less fortunate. folks that want to take from the billionaires or the wealthy. want to take it and redistribute it. never before in the history of the world has the government redistributed funds better than the private sector.
much less better than the person who earned it. it's his, and he wants to see it goes into the proper channels so that "a" it can have more money returned which goes into the system, and "b," it's properly utilize, i.e. research and medicine. look at wings on great hospitals in this country. look at schools built in universities and colleges, all privately donated. melissa: those people who made the donations could have given their money to the government, but they didn't. the hypocritical billionaires who say they aren't taxed enough and the tax rate needs to go hire. they could have given their fortunes to the irs, but they didn't. they gave it to charity because they know almost any charity in the country does a better job of
helping people than the government. >> i would like to make all those wonderful people a great offer. any one of them who wants to pay my taxes, i would be willing to take, and i would redistribute my taxes to worthy cause of, i.e., medicine, research. if they are so angst to pay, they can pay for me and them, and i would like to make that offer public to any of them. you don't even have to be a billionaire. whoever wants to pay my taxes. melissa: that's a wonderful idea. it's interesting that i don't know if everybody realized the socialist movement when you look at aoc or bill deblasio or elizabeth warren saying rich people aren't paying their fair share, what they are doing is a power grab. they want to seize that money and they want to be the ones to
redistribute goods and services to the population according to their preference and desire. it's power grab. it's not about the people, it's about the individual person who wants more power. do you think everyday americans see that? >> i don't know if they see it. i call it recentment because they didn't do it and they didn't get there. i would call it demonizing that which they are not capable of doing. if you look at their back ground, they failed in the private sector. one worked at the marriott. aoc was a bartender. all of them have not been able to surface and work their way up through hot ranks much private sector. so they failed in my view in terms of what they have done. melissa: thank you for joining us. coming up. influential democrats including some 2020 candidate on the
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justices don't heal the court in future. senator democrats -- joining me now, christian tate, what do you make of this? >> i have to tell you, this is the height of hypocrisy. since day of trump's inauguration, democrats have accused him of trying to destroy constitutional and civic norm, but now many of the same, demand supreme court drop -- related to gun rights, packing the court would weaponize it. make it a tool of whatever political force that happens to be in power at any given moment. it is what a dictator would do, it is dangerous, in a republic like ours. a independent judiciary is essential. melissa: also ironic, they are talking about is changing structure, adding more justices.
and in truth, if they don't like the way laws are being reviewed it is their job to write different laws, they have power to do it but they blame someone else. >> right, there have been 9 justices on the supreme court since the 1800s,. this is a dangerous path, this is a game two can play, if a democratic resurgences implementing more justices the republicans can do the same the next time they take power this should really terrify americans on both sides of the aisle. melissa: i can look back 20 years from now, with a hundred supreme court justices. politics, makes you shake your head, thank you. we appreciate it. >> thank you melissa. melissa: well, a big day in the market, keep an eye on fox business, we have you a sell-off on the dow of more than 800 as a
result of everything in bond market and hong kong. we have walmart earnings before the bell tomorrow, you want to keep a close a on that. lou dobbs is next, right here. >> good evening, breaking news, 6 police officers in philadelphia, shot, this afternoon. all of them suffering nonlife-threatening injuries during a narcotics standoff. and today a trillion dollar sell-off on wall street. wall street firms, leftist national media talking down the trump stock market, and the trump economy today. is their focus is 2020. and putting a radical dimm in the white house. and investors, elated yesterday when president chose to delay more tariffs on about half of china's