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tv   Bulls Bears  FOX Business  October 16, 2019 5:00pm-6:01pm EDT

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meltdown. connell: bottom line, the speaker walked out, the democratic leadership of this meeting, so. >> that does it for us. connell: "bulls and bears" starts right now. david: 12, 2020 democrat hopefuls trying to outdo each other last night. a brand-new election model is showing president trump with a strong chance at reelect. this "bulls and bears," thank you for joining us, i am david aldrich, odavedavid asman, on t. moody's analytics with three separate economic models they all show trump likely to win next we're based on the strength of the economy. with stock gains and jobs number, moody's model has only been wrong once in nearly 40
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years, will the economic progress made under trump overcome the negative polls about his style? >> i have been saying this for months, welcome to the program moody's. a strong economy would be very difficult for democrats to overcome, they can impeach him, knock him down in the press. but people love prosperity, he will win reelection if the economy remains as strong a year from now, i say, that moody's poll, they were wrong to donald trump's elect in 2016. >> its. >> steve took my last few words, they were wrong most recently. david: they were wrong in underweightinunderweighting tru. >> no, they were just wrong.
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it is clear that good economy is going to be good for the president. it is good for the incumbent always with a good economy. with this president we should throw out polls and models, they have not work. like today has biden up 14%, we know that the dems are not ringing the bell on that. we're a year away, right now the economy feels okay. there are signs of negative tie, manufacturing numbers look poor, retail numbers look poor. we're not sure it is to be determined. >> on the screen are the different economic models, those are the electoral votes that moody said -- >> i want a good economy. i am not one of the dems that don't want a good economy.
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>> i think it actually benefits from when i go around i talk to small business owners. they tell me, i might not agree with everything that trump does, but boy, my business has been so much better since he has been in office. assuming that economy holds up, even just sluggish growth, as long as it holds up to that level, a lot of people to your face may say, not sure if i am voting in that direct but at the end of the day at the voting being they remember their bank -- voting booth they remember their bank account they will vote for trump. david: all right. >> some point, because, seeing policy layout democrats on stage that are the leader, what that would potentially do to stock
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market gains going forward. and business confidence number, luckily manufacturing, 10% of our economy, not that big of a deal any more. service sector bigger. but that will get just as bad if not worse if we get the democrats in with their crazy ideas. david: elizabeth warren may look like the frontrunner now, but she still is dodging the main question that everyone wants to know. >> will you raise taxes on the middle class to pay for it, yes or no. >> so, i am have made clear what my principles are here, costs go up for wealthy and big corporations, hard working middle class families, costs will go down. >> we heard it tonight, yes or no question that did not get a yes or no answer. >> senator sanders acknowledges he will raise taxes on middle
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class to pay for med car fo -- medicare for all, you have endorsed his plan, would you acknowledge it too. >> it is about what kind of costs middle class family face. >> at least bernie is being honest in saying how he will pay for this taxes will go up. david: robert, how long can she tap dance around this. >> politicians deflect on a lot of things, that is why we're not politics. it is clear that if medicare for all was to be the health care plan for the nation taxes would go up to pay for it 3 plus trillion a year. i am not for medicare for all, i am for -- extending public option people to buy into it but i am also keeping private insurances that the employees have benefit of. as you know, i am more aligned on healthcare with mayor pete and former vice president.
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but she deflected, did not answer she got caught. >> there is another problem with medicare for all, aside direct taxes, people don't realize, medicare, they keep their costs down low because as you know, it is a cross subsidy, private insurance companies and people with private insurance subsidize medicare, the problem they will confront, if everyone has medicare who will subsidize it, that means seniors will be paying more for health care. and why would you want gover to play a -- government to play a bigger role in our health care. david: biden was talking last night about what might have to be dropped like our defenses. to pay for it. if you eliminate the pentagon, everything. it would pay for 4 months in medicare for all. >> that is the whole thing. now it is goes from saying okay,
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if the tax raising part is difficult, we'll cut from other things that we feel we don't need, but in my opinion, like the pentagon they are important. robert mentioned, elizabeth warren got caught. i'm not sure. she got -- steven colbert caught or on this months ago, she is still going on with the same narrative, the tap dancing term is interesting, what is is, she will say, i meant really hard working middle class americans, or the different kind of middle class. at some point she will parse it so many ways from sunday it will get her in more trouble. >> let's be clear, very liberal mainstream media is not holding her accountable, they prop her up, they want her to be the candidate. i think that we'll have to wait until the primaries are done. then if she ends up being the winner of the primary that will
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be only time she will be forced to be held to task. they have pick their horse, they will let her get away with not saying the truth, that is that taxes for everyone, including middle class would go up and up significantly. david: in the real world. where money makes a differencing, look at shares of netflix. soaring after hours, we'll tell you why and if it is a buy next. hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ 2,000 fence posts. 900 acres.
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with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k. david: shares of netflix spiking after hours, deirdre bolton with results. reporter: they like the earnings beat, look at numbers, 104 is
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what wall street was expected, netflix ended up posting $1.47 per share. that is a plus. revenue, just in line, so superlatives, 5.25 billion is what came in, compare this quarter data with last year, same quarter, increase about 30 30%, 31%, in that case we think that is why you see the green. the puzzling thing, netflix said 4th quarter earnings will be disappointing, wall street looking for 81 cents, netflix said it will earn 51 cents a share and guiding slightly lower for revenue, saying 5.44 billion in sales, wall street was fire for fiscal 4th quarter, larger concerns, netflix is burning
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through cash, i took a look at cash burn, free cash flow, it is at negative 2.87 billion. that a lot of cash. they are keeping up, trying to produce this content, this is as other competitors come on-line. i think netflix had that first mover advantage, now they can hear the foot fall of disney plus, apple tv plus, and other two services in november are cheaper than netflix, even hope toker than netflix's cheapest. i saii will say, this one has performed weakest in if you like year-to-date. maybe -- one other little highlight. international growth net subscriptions a little bit better than forecast, to me, that is not that exciting, netflix said that u.s. market is more or less saturated.
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>> but nothing but good news now as far asthma, et cetera. deirdre bolton stick with us, stay along with us, scott? >> i am happy, as a netflix shareholder for ourselves and clients, as deirdre said this stock was up near 400 in june. it came off quite a bit in mid 2 hundreds, now bouncing because, i think wall street just got too negative on the name, that is what i think is a lesson in stock picking. as we go to earnings reports, when the boat gets loaded on one side whether shorts or people who sold the name, that is probably a time you get decent numbers. not great, the stock will rally, that is what it is doing after hours, it will be interesting to see how netflix ends in 24 hours, stock has done it before, rallied in after market sole off
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next day be careful. >> maria bartiromo sat down with barry diller in a fox business exclusive, and asked him about netflix dominance. >> is anyone catching up with threanetflix. >> nope. >> really. >> that does not mean that what disney is doing is not sound for disney. they are doing it, i have great admiration for bob iger, he made a determination he had to have direct engagement with the consumer, only way is through streaming. it not like he put his little toe in the water, he put both feet, both legs, the wholed about, he is going for this. and today has such appealing content they think they will do well. will they ever get to netflix's size? i can't imagine it. it seems incomprehensible to me that would happen.
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>> robert, is he right? >> he seems right. hard to dispute barry diller, he has been a pro, forever, netflix is a first mover. we all know in business, people actually keep what they have before they get rid of to try something else. they keep giving the -- their content keeps getting better and better. there will become petters, people will have to decide where they g people just love netflix, an extra dollar here and there. >> scott said, he is an investor in netflix, scott, i am an investor in a competitor company, clicks tv, i mention that, there is so much competition in this industry, i wonder, deirdre, you know how that stock can remain so high given the brute a brutal competn the market. >> it actually has got -- you look year-to-date, up around 7%,
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which i suppose you can make an argument it is till still up, but if you put is against say facebook, apple or amazon, they are up in 40s, netflix is under performing what most people consider to be its peer group. picking up on something robert said and you talk about with competition, i am reading from press release, netflix said with the new com competitors, they s, fine, they have great titles, but none have i quote from the press release, variety, diversity and quality of new original programming that we're producing around the world. they are trying to say we'll be pulling in from over a hundred countries and producing our own stuff. and the person who posted this from netflix said that launch of new services will be noisy, their term.
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david: deirdre. >> one of big thing that everyone will look at is disney is a cash cow. they have tons of cash available because they are diversified. as you said, netflix is burning cash. david: right. >> that is their achille's hill. >> it will be interesting. >> disney content does not cost as much that is the other concern. i love some netflix programming, like i am not afraid, a movie that on netflix, original the baby sitter, yes, that true. but stuff like chris rock special, tens of millions, their content they pay terro pay -- fh more. david: you know what they don't have that we have, commercials. >> and condemning president trump's withdrawal of u.s. forces in syria, will congress be able to stop the president from bringing our troops home? how do you do something like, that we ask president zhudi jasser, he is here next.
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>> i'm not going to lose potentially thousands and tens of thousands of american soldiers fighting a war between turkey and syria. i get it all the time. "have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go.
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>> why are we protecting syria's land? assad is not a friend of ours, syria has a relationship with the kurds, who are by way now angels, i can understand that, but what does that have to to with the united states of america, if they are fight over syria's land, are we supposed to fight a nato member. david: president trump doubling down on pulling u.s. troops out of syria. after the house vote condemning
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the withdrawal, vice president pence and secretary of state pompeo on the way. pompeo talked to maria bartiromo before he left, she asked if turkey would have invaded. >> 100%. 100%. i was very closely involved when president erdogan informed, notified us, he was prepared to move, and within hours, trump saw there were american solers in the way -- soldiers in the way, we didn't have wan have cao do that and to think we would have nato on nato fighting, the american made the right decision. to get the american forces out of the way. david: joining us, zhudi jasser.
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>> this was brought about by the obama. which was a disaster, we left with this when president trump was left with, a jenga game, with pieces that fit together, he pulled bottom it is falling apart, our closest allies save israel in the region have been the kurds, not one american life has been lost in kurdish region, we lost 4 american lives compared to tens of thousands of kurdish lives lost, i think it was not a smart move, right we want to remove troops, secretary pompeo is correct, turkey has been amassing troops on border for a while. we engage the u.n. and west say we're moving troops out, we should not allow turkey to move in, we should have put sanctions to turkey before, not pull the jenga game and let them massacre
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you on closes allies. >> to that point, i know a lot of people are concerned about growth of isis, wouldn't stoking the claims with turkey be a bigger session secon security t. >> i don't believe show. if you look at what isis came from. they were radicalized in syria over last 4 or 5 years, to say somehow we're worried about them making it worse, they will be far more radicalizing to northeastern syria as they takeover between mile corridor, they are now bombing neighborhoods, they are moving kurdish communities out. not just an act of war against military, they are bombing neighborhoods of kurds, and other minorities to get their troops into syria. >> zhudi, if i am not mistake ep whemistakenwhen i heard presidee
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seemed too mention we would be strategic with iran, sirria, russia with -- syria and russia with respect togoing a after is. that seemed surprising to us over here in the u.s. >> yeah, i'm not sure, i wish there was more coming out of the white house, of the strategy. i understand the house's resolution today, imagine if to the decided tomorrow to pull troops out of dmz, their there is no war there, if we pulled them out, there could be. you have to telegraph a strategy, i get it we're done with endless wars but this created more war, there was not hot conflict in the area, and nato has to mean something. and now we're rea realizing, atd of the day only good is that erdogan will be on his heels,
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kurds are not handing over that area. -- i'm not sure how we have gained any strategy and we lost a lot of intel on the ground >> now that russians take advantage of this, how long do you think they stay, if they don't stay long because of money for example who comes in? any anyone? >> i don't think there is a syria with assad in this that the russians will not be there bottom line, russia will be there like since 71, they had the base at tar -- they still have it. making syria a client state, they are in with them, and a kurds have been a thorn in their side, first time since revolution, you saw a melding of the strategy of erdogan, russia
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and iran since they all hate the kurds, we were their only allies, sadly we abandoned them. david: zhudi, we know have you family in syria, we wish them the best. >> thank you. david: drug companies considering a multibillion dollar settlement with state and local governments over the opioid epidemic, what does this mean for the actual victims? when do they start getting some of the? the money? we ask judge andrew napolitano, coming♪ next. a product of mastery. lease the 2019 es 350 for $379/month for 36 months. experience amazing at your lexus dealer.
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j.d. power dependability awards across cars, trucks and suvs. four years in a row. david: we are invested in you. we have three major drug distributors talking about there i pay outs, to settle casing with state and local governments and opioid crisis, here is us judge andrew napolitano. when will individual victims, not the states but the individual victims get a payoff. >> i don't know how to answer that, they have to sue or join a class action to be paid themselves this lawsuit, is unusual. this is a collection of many, many lawsuits. chief justice of u.s. assigned to a single federal trial judge
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in cleveland, in that lawsuit are manufacturers and distributors, it is rare for the distributor of a lawful drug, this is getting it from the manufacture to the drug store, where the patient goes to get it after they have a prescription from the doctor. it is very rare for distributor to be held liable. the reason they are settling for so much money this is toxic, they are terrified what a jury might do, j&j gets penalized for millions for talcum powder with one plaintiff. there is no certainty that the money will go to people who have been harmed, they will use it for whatever government uses money for. david: scott? >> judge, i think that is the people, not only not going to
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people but not going to education or programs that could help anyone. what is chances maybe if does not go all the way to the patient, what is chance that maybe counties can use some money to help educate people the risk of these medicine. >> you are asking government that condition deliver mail to -- can't deliver mail to be responsible with this kind of money. state of oklahoma settled its case, it built a new building, in medical school for 225 million, that is going to help a lot of people, but it has nothing what so ever to do with the opioid epidemic. we're in a new era with state attorneys re general and county lawyers to sue to transfer wealth, that started with tobacco that did not solve a single health problem just plugged hole in state budget. >> you are right about, that you know, i did a lot of work on
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those tobacco settlements, they did not use that money for public he'l health programs. it was to plug the holes in their budgets, we know judge, who is going to benefit in billions and billions from this, those are trial lawyers, is there anyway to put a cap on how much the trial lawyers make? >> different states have different caps, i don't know the cap in ohio is, standard cap 1/3, new jersey, my home state where i was a trial lawyer and a judge has a sliding scale that goes down, down, the bigger the settlement. the smaller percentage of the trial lawyer gets that is the except shane ratheexception rat. you are correct. this is a plaintiff's bar dream these settlements. >> how much do you think an average person who was a decked addicted would get.
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>> there is no duty on part of these country to distribute this to individuals, they are not plaintiffs in this case. >> unbelievable. >> i don't want to downplay how important of an issue this is, addiction is a really big issue, there are all sorts of things that people are addicted two, to alcohol, and kind of a precedent does this set for other makers of product that happen to be addictive, you could start withaal he col -- alcohol and move to sugar and chocolate. >> interesting what you say. there is a case in canada, i tell you why it cannot be brought here, in canada arguing that video games and video machines are addictive and spoiling the minds of young people, cannot be brought here, supreme court 3 years ago ruled 7-2 video games are free speech.
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>> judge this is just the beginning. >> yeah. >> we'll see incredible class action suit. >> yes, there was trickle down as steve knows, to where it will get to the therapy. in will change pharmacies ability to hand out like candy. >> you will probably see legislator change statue of limitation like for child abuse and child se sec traf sex traff. >> painkillers serve a good person for millions of people. >> rehnquist was arrested they thought for a dwi, he took that many painkillers. >> we don't want to sue them out of existence. judge napolitano. >> thank you. >> a terrific team you have. david: it is a terrific team. details on a tentative deal
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between the uaw and gm, 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. now that you know the truth... are you in good hands?
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david: gm and the uaw have reached a tentative deal, grady is in detroit with latest. reporter: well, a lot of people thought they would reach a tentative agreement, automatically workers would go back to work. but you can see, they are still on the picket line. the details of the tentative agreement have not been released, there you reports it include wage increases and path to full time employment for temporary workers and a commitment by general motors to add thousands of new jobs in the u.s. those are just reports right now, nothing that we've been able to confirm. but you saw gm stock popped right up on the news of that tentative agreement, and so it fefiat chrysler.
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likely this will be used a template, throughout the duration of strike we've talked about the ripple affect, how dealerships and is up fl supplie been hit. the dealers had a backlog, they have not been able to get the parts they need to get repairs done for customer cars, th the e is that strike wil will en soon, we're told there say local leadership meeting tomorrow, that is when they are likely decide whether to keep describe going or end it -- but union members all 49 thousand of these gm workers have to officially ratify the contract, it could be several weeks, if the strike
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continues for that time it is possibility, that unlikely at-this-point. david: all right, grady thank you. >> so, will this deal encourage other unions to strike while the iron is hot. caroll have you chicago teachers in that direction? >> absolutely, any opportunity too strike they will do it, have you a precedent. and a good economy, you have low unemployment. harder to find skilled workers, that is the perfect storm to try to go out strike again. but the challenge is when you have a compensation that not market based it may work now when economy is going gangbusters, but the economy slows you are still stuck in the contract it could have big implications, that is why i am not a shareholder of gm. >> i am supportive of union and nonunion workers making sure they have their rights. i think this is a good thing, and also good this the strike is
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ending. i have been on come back city tours throughout michigan, ohio, and indiana. saw when the factories. i am hoping we as a country realize we need to change our skills to be ready for future. we talk about the great economy, there are 7 million jobs available with 6 million people looking for jobs, we should support workers, but we should make sure that we're train our workers. >> steve -- we know we have the best jobs market that i have seen in my life, that kind ironically empowers the unions, the unions owe a debt of gratitude to trump job economy. >> it is true. and robert that is a great sterling case for trump. you know, 7.1 million surplus jobs, it -- this is the whole theory behind tax cut and deregulation, to create a tight labor market, workers were on we an opportunity bid up their wages, only thing they worry
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about, and caroll was talking about this, are the companies going to you know fix themselves to wage increases and future years they might not be able to afford. >> we have to go. i'm afraid, before we head to break, see what is coming on "evening edit," elizabeth macdonald. >> we'll dig in to why debate momoderators did not ask a singe question on an issue that rates really high that voter polling shows is high on their radar screen for 2020, that is immigration and border. texas attorney general ken paxson and. we have that tonight. david: we'll be watching, liz thank you. >> is 100,000 dollars a year enough to buy yourself a home? the answer could shock you, next. credit cards right-
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david: edward lawrence was there, he is joining us from the white house. reporter: conversation, clearing some things up, in phase one deal, we have 7 original chapters in teal that we back -- deal in may that sort of fell apart, this chapter, the entire chapter on intellectual property will be included in the phase one deal, that includes protecting intellectual property for financial services but also other industries, that go into china. the entire relmen realm. and force transfer in phase one, but morse of force transfer of
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technology, will be dealt with in phase 2 as they go forward. he said next 30 to 45 days they focus on completing, finalizing the written words in the document, also they will work on usmca . very interesting all of intellectual property rights will be producted, very broad category and broad protections, no specifics, but broad and covers a lot, a bonus, a benefit for u.s. companies going into china to know, with that reassure an their intellectual property rights would be sort of sso solidified and protected. david: e edward lawrence thank you. >> if you make $100 thousand a year you should be able to afford your own home according to "wall street journal," more
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and more is no, record number of 6-figure income family rent as student debt and meager savings cloud their financial future. >> $100,000 is not what is used to be. i know that robert and his friends in democratic party think if you have $100 thousand you are rich, it is tough. i graduated from college, you had 19% mortgage interest rates, housing should be affordable now, now is a good time to buy a home. >> with rates down, i am surprised that numbers are dire, also location, if you look like in chicago outside my door, and new york and big cities, l.a., state and local taxes, ownius -r -- political environment has
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reduced the appetite for people to buy a home, others like florida, tennessee, texas, colorado, they are doing okay. >> and let me say, not just in cities, in the suburbs, if you can afford to buy a house, you cannot afford to maintain it, property taxes are so high. there are middle class family in expwushesuburbs of chicago seenr property tax increase 2 to 3 times last 5 years, if you have to pay 15,000 a year in property tax on a couple00 house dollar house is insane. david: and home appreciation has been a way for generations to build wealth, more and more fewer young americans are able to buy into that american dream. >> we learned hard way over last
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decade, it not a great investment asset. that your house should be something you live in, if it goes up, great. but you should look it as an alternative to renting, if the return versus renting makes sense then you should buy, that way you build up equity, as far as idea of guaranteed appreciation, we know it has not worked. in the last decade for the most part, so i think that people are nervous, also, caroll is spot on, people cannot afford the up keep, the taxes could maintenance, and everything. the service sector is increasing, and taxes increase. david: well, location is everything. try buying a 500,000 dollar house in washington d.c., steve moore, i don't think you can find one. >> blende in connecticut, bargain low prices no one wants to live in connecticut. david: you do. >> i don't live in connecticut. >> all right.
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>> i would find the, i like that town. david: moving to ir elon musk, e was the guy who infamously was puffing on pot last year during a podcast interview, now taxpayers believe it or not, you pay for what he was doing. we'll tell you why coming next. imagine a world where nothing gets in the way of doing great work. where an american icon uses the latest hr tools to stay true to the family recipe. where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. where the nation's biggest party store can staff up quickly as soon as it's time for fun. this is the world of adp. hr, talent, time, benefits and payroll. designed for people.
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or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. david: your tax dollars at work, a report by politico, nasa was so concerned about musk's pot smoking it ordered a mandatory review of his workplace culture at spacex, nasa paid spacex 5 million of your taxpayer money,
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scott? >> david, elon musk wins again. he has done it all. he sticks' his middle at sec, gets a slap on the wrist, but i have news for nasa and others, marijuana is legal in california. so it okay to smoke up in the country or in the state in county over there. they will come up with more challenges if this is only one they are trying to stop. >> all companies that elon musk owns and runs, have gotten by my estimate 5 billion in federal subsidies. my philosophy on investing do not buy stocks in a company whose ceo is smokes dope. >> a bigger issue, we're contending with, nobody will stop this. we have gotten the government so big so out of control, we have no fiscal conservatism any or
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where,py had a -- any more, we had a tril condolla conwill tri, no one is standing up to create accountability. elizabethaccountability. david: but it is our money. 5 million for an assessment on pot smoking? >> that is ridiculous, idea that government pays someone they are also paying to do their contract, service agreement to make sure, okay they don't smoke dope at work hours, that is just i don't know. david: his antics are bad enough when shareholders have to pay stock goes down, but taxpayers? >> i agree. that is reason -- one reason we have not own that stock it is risky based on musk's antics, i do believe he has good ideas, a good bit of influence iff if he
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could conjure up this contract, that worries me think about silicon valley and partisan -- see you next time. elizabeth: actio an explosive we house meeting on syria. nancy pelosi storms out, this after house vote method condemn president's decision to remove u.s. forces from northern syria. house minority leader mccarthy criticizing pelosi for walking out, chuck schumer firing back. and also breaking, a top democrat throws a wrench into the impeachment probe. potentially weakening the democrat push here. ruling out the use of a tool to go after white house officials.


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