tv Cavuto Coast to Coast FOX Business December 11, 2019 12:00pm-2:00pm EST
>> 9-year deal, the deal is so long because he's 29 year's old. 326 strikeouts last year, by the way. stuart: $36 million a year. >> per year. stuart: more than a million per start, how about that? time is up for stuart. neil: we are following clock tickings here, four days away from deadline, we will know by then whether the administration is ahead of the green to push back those tariff that is were supposed to kick in, $165 billion worth of chinese goods. the guy who investigated what got them going on in the first place and separately you have a lot of ceo's talking around the country, including morgan stanley or chase morgan ceo with his view of where he see it is economy going, we will get updates on all of the above. let's go to craig of the wall
street journal, first on china, greg, everyone seems to think that if you don't get a deal, if you can push back tariffs, for now that might be just as good as one, what do you think? >> certainly we are past the days where every sickle things got worse, things look worse, the markets took it on the chin, we are now in a stage where things aren't getting worse, that's okay, nice if we got better, nice of phase 1 deal but honestly just like staying where we are is satisfactory for the markets. i think, neil, the way to think about it on the trade front we reached a new equilibrium, higher uncertainty, more unilateral action but the markets having sort of got use today the new equilibrium and will take it hard if the equilibrium gets worse. neil: let's say we don't get a
delay on tariffs, i imagine that would not be well received? >> people are putting 75% probability that we delay the -- the december 15th tariff increases that would be my expectation as well, i don't expect things to be terrible. neil: all right, so the president has a lot of power in his hands right now to decide on that, he's going to be the point person on this. when you talked to reporters and everybody else, is it their sense that he will go ahead and delay it without any guaranty that he's going to stop up but might be a delay, the question is how long of one? >> yeah, well, essentially that's been the amo thus far, isn't it? neil: right. >> he has delayed implementation of particular tariffs, he's a guy that likes to deal, likes to negotiate, he thinks deadlines are helpful in terms of getting adversaries to the table and helpful in focusing him as well. his negotiating room isn't
getting better, it's getting worse, it's not in his interest to weak tennessee markets, weaken the investment climate or anything like that, he's very much fixated on things not getting worse. neil: i got you here, we are talking about another deadline that's immediate, a couple of hours from now when we get word from federal reserve on interest rates,jp -- jamie dimon says fed cutting rates doesn't help but mentally -- generally as people think or expect? >> i think that a lot of people who will take advantage of low-boring cost already has, you get offsetting behavior, for example, one of the reasons people like jamie dimon don't like it that lower interest rates actually hurt the profits of banks, so at some level that might actually interfere with lending and so on, listen, it's too soon to say, it affects the strong dollar, the strong dollar
apparently hurt a lot of the merging markets, so it's not enough -- i wouldn't say that rate cuts are going to help a lot, it's definitely the case for the rate increases would be destabilizing, though, what you will hear from the fed chairman, he thinks interest rates are where they ought to be, neil, what i will be watching what is the body language, what is, for example, where they think rates gogo next, my sense is at follows, they will say that in the long run they want rates to go higher but i think they will talk a lot of downside risk including the china trade stuff which lead me to believe it's more likely that the next move is down rather than up. neil: interesting, greg, it's always good catching up with you, my friend, thank you. >> thank you, neil. neil: today's milestone notwithstanding, they have been resilient in the face of impeachment and you name it. investors are monitoring the inspector general michael horowitz who has done exhaustive investigation, close to 500 worth that looked at the genesis
of what prompted the -- the examination of the trump campaign in the first place. chad with the latest on all of that and the timetable, where we go from impeachment, chad? >> long awaited hearing, this is with the event on capitol hill, a lot of drama this morning, let's listen to reaction during the hearing this morning with michael horowitz and lindsey graham among others. >> mr. horowitz, 17 irregularities that you found, some of them are earth shattering, it's trump today, it could be me or you tomorrow. >> this was not a politically motivated investigation. there is no deep state. >> the current department and fbi policies are not sufficient to ensure appropriate oversight and accountability when such operations potentially include protected activity and requiring consultation at a minimum would
be appropriate. >> now big hearing going on capitol hill, hearing looking at boeing and some of the issues with the 737 jet, tonight the focus on impeachment, markup session, this is where they actually formalize the article of -- articles of impeachment and entertain other proposals, maybe amendments of articles of impeachment, they go through that for about 3 to 4 hours tonight and resume tomorrow morning, the next question is will they have the votes to pass the articles of impeachment on the house floor. here is the house majority whip jim clyburn of south carolina. >> you know, i all said being united doesn't mean being unanimous. we are united. >> it's important to note that they are not actually whipping this vote but there's a laundry list of things that they have to do, they have to knock out defense bill today, they have to deal with a bill tomorrow to try to lower the cost of prescription drugs and then next week becomes a bit of a muddle,
the uscma, impeachment and trying to fund the government, not just about an hour ago there was a meeting in the speaker's office with the chair of the house appropriation's committee along with speaker and congressional hispanic caucus, there's concern about the dhs funding portion as they go into this deadline december 20th to fund the government, that's the flash point dealing with the wall and also the treatment of migrants. i talked to alexandria ocasio-cortez, the freshman democrat from the bronx, she said we want to get as much dignity and protections for migrants as possible and can they get the government funded and not have another christmas time, shutdown, neil, appropriation's committee told no progress since yesterday, republicans must respond in a more efficient way to our offers, in other words, the democrats have made an offer and they're not hearing back for 24 to 48 hours, that's not moving in an expeditious fashion as they approach the deadline to fund the government, 11:59 p.m.
on december 20th, neil. neil: the thing about the timeline of that, that's 5 days after supposedly tariffs might or might not kick in on chinese goods but that one is a more immediate concern, do we have the possibility, the middle of the holidays of the government shutting down in. >> absolutely as long as they haven't worked something out, i was rather surprised when i talked to her, again that's why the dhs funding bill is so critical. that's been the issue last year, that's what caused the government shutdown dealing with the border wall, you listen to the treatment of migrant issues that ocasio-cortez races, money for puerto rico, hurricane relief aid, that's all balled up, that's one of the 12 spending bills and do they do a combo bill where they knock out 2 or 3 and then do an interim spending bill to keep the government open. they can't have another government shutdown like they did at the holidays last year, neil.
neil: amazing, no one covers it better, thank god he is with us, all right, in the meantime the possibility of a government shutdown, that's something that i don't believe wall street has been prepared for, larry glacier on all of that. what if it were to come to pass and we have wall street grappling with that? what do you think? >> you know, neil, i think it's a really good point. we've just gotten comfortable with trifecta of economy news, whether it's trade, whether it's the fed coming out and then finally impeachment, throw in a shutdown and you really run the risk of pushing investors off to the sidelines, you know, there's 3 and a half trillion dollars worth of cash sitting in money markets looking for a reason to come into the financial markets, this time last year, fed chairman jay powell was the grinch that almost stole christmas, this year he is santa delivering toys, boys and girls, over the wall of worry, bringing all the joy with the fed and stimulus and i think if that fed
running into 70 miles an hour hits a speed bump, we will spill those stock market gains all over the road. and that speed bump could be impeachment, should be a shutdown, should be trade issues, we want to be mindful of the fact that investors don't like uncertainty, more importantly small businesses have been the champion of this economy, the consumer has been the champion of the economy, they really don't like uncertainty, they haven't had and don't want it before year end. neil: no matter what we say about the theater in washington, what's deciding the up and down of the markets, the up and down progress on trade talks, i'm throwing you a hypothetical, but if the president were to push back these tariffs on china, would that alone we leave the market, get them surging offsetting what could happen in the event of a partial or full government shutdown? >> you know, neil, it's interesting, the trade issues really affect businesses differently, large businesses have been able to absorb concerns, the small businesses
deal with everything and they are much more affected by this, if you're in manufacturing, it's a huge issue, if you're in the shoe business, 75% of goods come from china, it's a huge issue. if you sell lobsters to china, it's a huge issue. but the for the who i as -- as a whole it hasn't had significant impact yet. 2020, that start to change. this is a story that needs to play out. we need to have a good deal for future generations, we can't kick everything down the road, we kick trade down the rays, i can wick death down the road, we have to have the battle and even if it means a little bit of pain, there's no good time to do it, we just hope we can get a good deal with the american people and the american workers who have had a bad deal so far. neil: all right, larry, good chatting with you. >> my pleasure, take care. neil: you too, my friend, saudi
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latest on all of the above, hey, grady. >> hey, neil, as you said the valuation of the company now $1.9 trillion, making saudi aramco by far the largest most valuable publicly trading company ever, beating out apple, microsoft, aramco it's different because it's only giving up for public trading 1 and a half percent of the company, the rest is controlled by insiders and the at a time which owns the company, now let's talk about the ipo a little bit by the numbers, stock surged immediately to 939 u.s. dollars per share, that's up 10% almost immediately when it started trading, there was also allow turnover in the first day of trading because investors largely wanted to hold onto this stock, all of that points to saudi aramco being positive investment but american investments kind of steering clear from it for the most part for a few reasons, for one, they
say it's overvalued because it's dependent on oil prices and another reason is because it's a vulnerable company, it's been the target of attacks already this year, remember that drone attack on several of its refineries, so depending on geopolitical changes and also state run which means the government takes a loyalty when crude prices rise, that's something that does not happen with the american energy companies like chevron and exxon mobile but all things pointing to good ipo, we will have to keep an eye on it as we look at second day of trading tomorrow, neil. neil: holiday bonus tops any i've seen in recent years, after this.
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neither for hong kong authorities who want to crack down on chinese overlords, and so they are between both sides, rock and hard place going for it. south china post, he's here on the reading of the situation. china wants to avoid any possibility square, can it? >> a lot of people are drawing the comparison of what is happening in hong kong with square 30 years ago, there are some differences there, i mean, 30 years ago the democracy movement happened right in beijing, in the capital of china. under the nose of the communist party and then the demand is actually directly addressed to
the china -- but this time the movement in hong kong is targeting the hong kong government, additional demand like the demand for universal suffrage, greater political freedom, that's where beijing is involved but the target in mind is directly addressing by the protestors. >> clearly sending a signal with china. at first it was about hong kong residents shipped to china and, you know, go to trial, go to jail, disappear, whatever and a lot of protestors say that ought to stop, it's not enough, do you think the genie is out of the bottle and now they are sensing the whole democracy, protestors and they are not going to stop? >> you put it very right, the genie is out of the bottle,
initially the movement is about particular view and by now after view, it has a life of its own, to next demand is looking inside independent inquiry into alleged police brutality but beyond that is for greater political freedom. 5 years ago when hong kong had police call reform was end game of having a direct election to elect -- that supposed to be stop because two sides cannot agree on the arrangement. ever since then we don't actually see a road map of how hong kong can have a strategy to -- to get ongoing, again, some of that is frustration, driving a lot of people to this protest, but on the other hand, i think
that it will be depending on the movement simply as democracy, i would rather put as movement, has elements to that. fighting for democracy is part of it but it's not the entire, enticing about it. >> the u.s. congress and the president just signed off condemning the actions, i'm just wonder if they become part of the trade talks, so far not really, but they could then what? >> i don't think it will get too directly linked to with trade talks, certainly in beijing's interest, beijing doesn't want to mess the -- mix the two things together. neil: president trump is leaving out of trade discussions. >> yeah, the trade discussion is very complicated. it has effect and the first is
because -- a lot of the chinese public, particularly among the young people, they have very different view. neil: but do they see it? i know it's everywhere being around the world. not too many name chinese see it. >> it's true but a lot of people actually do find about what's going on in hong kong because we have a lot of students studying in hong kong. neil: that's true. >> they actually through social media, whatever, back to what they observed, what they see, the second part is also a lot of the information is actually not as strictly controlled as you will believe. a lot of the people actually read it from other channels. the one thing about this movement is actually we reported this before, in the beginning
when the movement first started we have -- we see a lot of the young students in hong kong coming out to support the movement which is not surprising because they come to hong kong to study precisely because they like the lifestyle in hong kong, the like political freedom, they come out to defend it as well, but this is why i call movement, it's very simply against everything chinese, everything particularly -- a lot gets vandalized, the banks getting attacked, a lot of the mainland people cannot speak chinese feel
unsafe. we interviewed those students in hong kong, you find that the mood completely flips to the other side, so there's a rising tide of sea of hong kong, very different lives. >> hong kong is in a recession, i don't know how reliably the figures are, knowing what a draw it is for businesses and those businesses are working on abbreviated schedules, not all of them, it can become a filling economic prophesy where it gets worse and worse. then what does china do? >> yeah, i think the strange thing about hong kong right now is us, the economy is basically viewed on the finance, finance industry and the property. we tracted the data and up until
september, actually the money flow through hong kong into china, increased the 8.5 billion? neil: is that right? >> if you look at the stock market, actually in the beginning a lot of the investors get spooked and put on hold plan to leasing hong kong but now you start to see more company coming to hong kong. neil: you think this not passes but stabilizes? >> because it's complicated in the sense that all the unrest happened at the street level. >> right. >> they don't really have immediate impact on the financial sector. this do business mostly through internet. >> yeah. >> they don't even have to actually in the street of hong kong as long as your company gets registered in hong kong, then you can use the benefits,
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no less than the attorney general of the united states bill barr, facebook, for example, has turned down a request he had, it was not subtle one to staff encryption strategies an plans going forward. susan li with a lot more on that, susan. >> definitely not settled, neil, they want to protect privacy of the users and on the other hand, you have attorney william barr wanting to help police and patrolling bad actors, end to end encryption, no one can see or hack your messages function that by the way also shields the bad guys according to the attorney general, listen. >> whether it's with whatsapp or facebook messenger, is that something that you want to address? >> criminals organizations and i'm talking about terrorist organizations, drug cartels, child molesting rings and kiddy porn type ring are moving to encryption. we have increasing number of
horror stories about how people are dying or being molested or whatever that we cannot get into, we know it's happening but we can't get into the communications. >> now n response facebook executives in charge of whatsapp and messenger sending a letter to barr saying they need to protect users, it would be a gift to criminals, hackers and repressive regimes creating a way for them to enter our systems and leave every person on the platforms more vulnerable to real-life harm. connecting all the facebook platforms, that's a new direction that facebook founder mark zuckerberg has taken in. new path after cambridge analytica scandal, but facebook isn't the first tech company to get pressure for back door access, remember apple also facing government demands to hack in iphone that belonged to san bernardino shooter, apple fighting and resisting say that the move would undermine
hundreds of millions of iphone users, neil, ongoing debate, i'm sure. neil: one we are told the justice department wants to see wrap up by next year, i don't know. we will see, susan, great job as always. another guy that does a great job as always charlie gasparino and no one has been on the sprint-t-mobile talk settlement issue than he. >> can i make one point, this is important the justice department tech crack-down, barr says he wants to see resolved next year the investigation, the antitrust investigation. not the side issue about the access to the emails. he's basically saying that there's a -- a cloud over the stocks of facebook, amazon. neil: is that even his -- >> it could be, it could be. the justice department and criminal enforcement department. the antitrust division is looking at google and facebook in particular in antitrust violation, he wants those things
done because it's a cloud over the stock, just to make that clear. the other thing that's interesting the stocks of t-mobile and sprint which have been trading wildly off, california ag lawsuit to break up the merger, we do hear right now they are -- neil: by the way, concern is too much power in. >> too much power, antitrust concerns. neil: got it. >> when t-mobile bought sprint, they say you basically, you know, subtracted a wireless carrier even though the justice department in formulating this whole thing creating a fourth carrier in dish, they are saying dish isn't a real fourth carrier, they are not that strong, they will not provide price competition. t-mobile and sprint say, no, they will, justice department says no, they won't. new york state ag and california ag to break up the merger on the grounds. what we do know that there are low-level settlement discussions
between the t-mobile lawyers and the lawyers for the state ag's, low level, i mean, that doesn't mean this thing will get settled but they are talking about what are the condition that is could settle this thing. son-in-law of the things that i -- some of the things that thati know t-mobile was willing to broach, they don't have access, people don't have access to the union, apparently that's one of the concessions, other concessions is broadband. neil: they would consider going union. >> they are talking about it, okay that doesn't mean they will. some of the things that could be on the table that i know t-mobile is talking about, broadband build-out for poor communities, no price increases, more of the same sort of stuff, the other stuff that you saw that got the justice department to nod off on it. what we do know is this, the trial is continuing, there's no settlement right now, but i -- from what i'm hearing, from sources close to both sides and we should point out the new york ag spokesman did not deny this, all he said we are continuing with the trial, so apparently
they haven't said anything. i don't want to weigher, man. listen, they are before a federal judge that's a republican -- that's a democrat, clinton appointee, you could make the case you take out a wireless carrier even though you replace them with new that's not going to have much difference. neil: could one of them go out of business? >> sprint will go out of business if they are not bought, they cannot survive, but listen, a little bit of a game of chicken, maybe the state ag's will says, well, maybe they will give us a little more because we will lose maybe the company say, well, we don't want to roll the dice, let's give them more in con -- concessions, we do know lawyer to lawyer settlement stage right now. neil: thank you, my friend, the best one on the planet and proved it again. way too early but you never know. meanwhile there was a community
in florida, you know if you heard about this, a big grocery store went out of business and they were looking for others to step in, they didn't, so the government stepped in, opened its own grocery store and people are looking and saying, you know, interesting, very interest ing. did not work well enough. xeljanz xr can reduce pain, swelling and further joint damage, even without methotrexate. xeljanz can lower your ability to fight infections like tb; don't start xeljanz if you have an infection.
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neil: all right, this might not warn an alert but the market not responding favorably of the news that 737 max, it ain't going to be flying this year, that might not strike some of you as a surprise but a whistleblower was reporting an investigation uncovering sort of confirmed the obvious that that plane is still in world of hurt, hillary vaughn
covering it all on capitol hill. >> hey, neil, the head of faa telling lawmakers that they are considering slapping boeing with civil penalty for the way this all played out that ultimately led to grounding of 737 max, the faa administrator steven dickson saying he also may consider taking further action beyond just a fine. >> i think that it almost borders on criminal, they have knowledge of a defect and they don't give notice and they invite the flying public onto those planes. >> i don't have an opinion on that. i haven't ruled out other actions as necessary and as you point out and i will take those actions. >> the faa administrator was also grilled over an internal 2018 analysis at the faa that found that the 737 max could have had an average of one fatal crash every 2 to 3 years without
faa intervention, that analysis came out in 2018 before the ethiopian air crash and the administrator who took faa four months ago, he thinks that that process need to be looked at closely, who in the faa made the decision not to ground max in immediate response to that report, we will also hear from the boeing whistleblower who in prepared testimony will tell lawmakers today that despite issues and concerns that boeing continued a highly-publicized push to increase production at rent in washington plant, pearson will tell lawmakers, this, boeing said nothing about the chaos that such goals created on production floor, i realize recovery operations were prioritizing production speed over quality placing manufacturing employees and the flying public at risk. we reached out to bowing in response to this, they gave us this statement saying that they took pearson's concerns very seriously and did not risk quality in an effort to increase
output of planes saying, although mr. pearson did not provide specific information or detail about any particular defect or quality issue, boeing took as concerns about 737 production and neil a lot of pressure on faa headed to in this hearing to admit that they made a mistake by not grounding the plane earlier but so far he has not been able to say the word mistake and several lawmakers have tried to convince him to do it, neil. neil: hillary, thank you very much. a lot of bosses don't share the loop with their workers, i want you to meet the one and share the story about the one that just gave away 10 million bucks to its workers, after this
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nearest other store for fresh meats and produce and so the mayor and city council decided that they would run the store, the idea of a government grocer is unique especially for a conservative community such as baldwin. >> this is definitely america and a lot of republicans in this area and it never dawned on anybody to think about it being socialism and we never had the intention of being that way, it's just pure necessity. >> and we certainly don't see it as making a political statement, this is us looking out for ourselves taking care of our own the way i think it's supposed to be done. >> it's an unusual solution to a common problem that's changed, serving remote areas is costly for already low margin business, and grocers play a key role having planning and share for
the past decade. >> increasingly difficult to find sole proprietorships. >> residents see as public good. food ask the public resource, the water work you pay to get the food directly to your home, neil. neil: nays story, jonathan, thank you very much, my friend. the season of giving, you always hear that, but get a load of this guy at holiday party announces he's giving away $10 million in bonuses to everyone at the company. take a look. >> you're all participating in a bonus based on the number of years of $10 million.
♪ ♪ neil: isn't that beautiful? everyone including the newest worker got some of that loop. founder of saint john's, everyone here wants to join your company, we will talk about that later, why did you do it? >> we achieved our goal of 20 million square feet that we built and developed and leased and -- neil: you achieved early, much earlier than you thought? >> 2 years earlier than we had planned and even though the recession was four years, we were elated over that and i said we've got to rewarded the employees somehow that's got to be meaningful and so we did a spreadsheet on a million dollars and i didn't like the numbers and we did 2 million and then we did 5 million and i thought
about that for a day or so and i came in and i said, guys, if we can give 10 million away in charity contributions to a university, we can give 10 million to employees and it's going to mean something. neil: most certainly does and you based it on longevity, those who have been with you got the most, the highest paycheck would have been around 170 -- >> $172 million, thousand, excuse me. neil: even the newest of workers, they got $100. >> everybody. i was. neil: all right, what made you be that generous, though, a lot of ceo's get the idea, i have to share some loop but they give them a couple of turkeys, cheeses. not that there's anything wrong with that. >> i was looking at the numbers and we started with 1 and then 2 and then 3 and then 5 and i said it's just not enough, it's just not a wow, i want i want to really do something to thank
these people for achieving a goal i never thought we would ever get to and that's when i came in the next day and said we are going to give 10 million. neil: you became a saint overnight. [laughter] neil: what are you doing next? set new goal? >> new goal is 40 million square feet and you can guess. my goal is to give them 20 million. neil: 20 million. now, do you worry that some who got the top figure might not want to continue working, they might leave. >> they might. neil: what do you do? >> those guys have been there over 30 years. neil: now what was the reaction, some of them, you telegraphed something big was coming, you teased it, what was their reaction? >> they were stunned, we did say there's something to do with ten and the word got out it had something to do with tenure and we had the little quizzes each week for 5 weeks about the ten,
ten, ten and nobody knew 10 million. nobody. neil: yeah. >> they got the regular christmas bonus 4 days before, so when that happened -- neil: separately gave them christmas bonus. >> they had no none, none at all. neil: all right, so now, you know, i'm sure your company which is well known now it's well known and your personnel office has to be overwhelmed. >> they tell me the phone is ringing and ringing and ringing. neil: how do you look for the people you ultimately choose, obviously it's one thing to rewarded those to helped to get to this number, but you are no dummy, you want to have the best workers to get that rewarded? >> how do we look? neil: yeah. >> very well known and when we need somebody, people do come to
us and we have test that is we give and personality evaluations and we just go with it. neil: yeah, you try to pick good people too, core human beings, that's important to you. >> that's right. neil: generally they are the type who would be good workers. >> the morale of our company is very unique, we want people who get along with other people and the easiest way to be let go in our company is to not get along with colleagues. neil: very good seeing you, merry christmas, what a nice thing to do. all right, so let's say you don't work at a company like that and depending on what's happening with the economy, well, the federal reserve might or might not help you about an hour from now, we shall see. not that they're throwing out money but indicating what you could do with yours, after this.
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ask your doctor about trulicity. neil: all right. we have a fun hour coming up here, one of the more iconic figures in wall street history, stephen robert, will join me very very shortly. ahead of that we are waiting to hear what the federal reserve does. the expectation is when it wraps up its meeting at 2:00 p.m. eastern, about an hour from now, rates are going to be holding steady here. now, the white house of course has been talking up potential trade deal progress being made with china, but again, the fact that we are staring at tariffs that go into effect on the 15th could create some head winds if they're not put off. blake burman on what the fed will be wrestling with after they make that decision. hey, blake. reporter: we do await jay powell in the next hour, then probably a presidential tweet at some point after that.
here at the white house, we also await what the president may or may not do come sunday, december 15th, as the next batch of tariffs against china, some $160 billion worth, are slated to go into effect. we will see if the president decides to go forward with that or not. here in washington today, business leaders are gathered for an event among the business roundtable and we did hear from jamie dimon earlier today, who said he feels that a phase one trade deal between the u.s. and china will get done, but that it would also be harder to negotiate the next part of the deal after that. so that's china. the deal still outstanding. there is of course the deal that is already done or at least close to it, that being the usmca. today we are learning of the first republican defection in the senate. senator pat toomey of pennsylvania says that he's going to be voting against that trade deal. senator chuck grassley telling maria bartiromo this morning he does not believe that he's got really any concerns about the usmca and its vitality in the
senate. listen here. >> are you expecting any pushback here? do you think this passes? >> oh, yeah. just as soon as we get done with impeachment, it will pass the senate a lot easier than it passes the house of representatives. reporter: we heard from the business roundtable and chamber of commerce today regarding the usmca. they both say they support it but also have reservations about i.p. protection issues, for example, the brt said in the statement we are very disappointed the deal announced yesterday removes or weakens important intellectual property protection and could undermine life-saving innovations and technologies. the chamber specifically names the biologics provision which would have given u.s. drug companies longer protections in mexico and canada. they said in a statement today quote, now the only beneficiaries will be foreign governments and consumers who will continue to free-ride on the benefits of american research into new cures without
contributing to their development. so for the usmca, still some concerns. first republican defection up on the hill but back here at the white house, we await to see what the president decides to do come sunday with china. neil: we shall see. blake burman, thank you very very vp. what if the tariffs are not put off, what kind of head wind will the economy be facing? for that i go to former oppenheimer chairman and ceo stephen robert, who joins us exclusively. good to see you. how are you? >> nice to see you, neil. neil: let's talk a little about what's at risk if those tariffs go into effect. >> i think it would be bad for the economy. i think it creates an uncertainty in the worldwide economy, it discourages investment because people who are going to build a plant which has to be there for many years, don't know whether to go ahead because they don't know what the tariff situation is going to be. and i'm not sure that all these tariffs have done much good anyway but i agree -- neil: they have not done much
bad. the president says that if they were so damaging, we wouldn't be seeing the strong economic and market performance we have. what do you say to that? >> i think he's right in a way that they're not that damaging, they're not doing that much good but i think jamie dimon is right, we will get the first phase and china will buy a lot more soybeans and something else from us. the really tough stuff, though, is being left for the second phase. this is not a great victory to get the first phase. the really tough stuff is stopping them from stealing our intellectual property and stopping them from subsidizing their state-owned enterprises which give them an unfair advantage. those are the issues that -- neil: good luck getting them resolved any time soon. >> that's right. so what we are doing here is taking low-hanging fruit and getting that done. that's better than nothing. but the real tough stuff is for later on. neil: when you look at the
markets, do you think they are out of balance here? this is the time when you hear conflicting views out of the brokerage giants. some that are very optimistic, others like, you know, morgan stanley, less so, concerned about a slowdown. where do you stand amid all that? >> well, we have been hearing concerns about a slowdown for at least five years. every once in awhile the market reacts to it. they say a bull market climbs a wall of worry and this one certainly has. neil: also, a lot of bull markets die not of old age but they are taken out and murdered. what could take out and murder this one? >> i don't think -- i don't think too much. because the consumer is in such terrific shape. 70% of our economy is the consumer, and the consumer's getting 3.5% or 4% increases in his real income. he's got a lot of spending power. unfortunately, it's mostly the top 20% of consumers, that are
getting a lot of that money but nevertheless, as long as the consumer's in good shape in this country, it's hard to have a recession or any kind of a bad economy. so i think we are going to be just fine. by the way, manufacturing is picking up a bit, too. neil: talk about head wind, for democrats who like to bemoan and maybe rightly so, the dichotomy going on, the gap between those succeeding and those not, but it's an empty argument to some. the president always argues record low unemployment levels for blacks, hispanics, asians, women, et cetera, and that's what he took on the campaign stop to pennsylvania, he's going to do the same in michigan. how do democrats counter that? >> well, he will say that, but the fact is 80% of americans have not had an increase in their buying power in 30 years. think of it. neil: that transcends republican and democratic -- >> absolutely.
80% of our fellow citizens. neil: we have had 16 straight months of 3% wage growth at least. >> that's not too shabby. that helps but it's cyclical. neil: you don't think it will last? >> i don't know how long it will last but it will have to last many many years. neil: because in real terms with inflation this low, that's not too too shabby. >> that's not too shabby at all on a cyclical basis. the problem is, at least 50% of americans have to borrow money to put food on the table. they are in such a deep hole that these monthly improvements in statistics we're seeing almost don't affect them. the hole is too deep. you are going from down 10 feet to down 9 feet, 11 inches. neil: elizabeth warren is among those saying, then, to correct things for them, you got to zap the rich, you got to have a wealth tax, got to have surtaxes on the wealthy. to a candidate, individually, they all say variations of the same thing, not maybe to her extreme. what do you think of that? >> well, it was einstein who
said vision without execution is delusion. i think some of these -- neil: he wasn't even a day trader. >> he wasn't even a day trader, but he was smart. so people like elizabeth warren are proposing things that sound good and she kind of puts a harvard intellectual veil over them, but they don't work. neil: a lot of her democratic rivals say if she gets the nomination, the party is doomed. >> it might be. it might be. neil: would you like that? i know you are slightly left. >> i'm slightly left but moderately left. i think we can only win with a moderate. the way we picked up 40 house seats in 2018 -- neil: who is the moderate in your eyes? >> i think biden is a moderate. neil: what about mayor pete? >> mayor pete is moderate and very smart. neil: what about hillary clinton if she dashes in the race again? she's encouraged by the poll that shows her leading the field? >> i would be amazed if she dashed in the race and i hope
she doesn't. neil: what about michael bloomberg? >> michael bloomberg would be very strong. i would say if i had to pick two right now that might be likely to get the nomination, it would be mike bloomberg and pete buttigieg. neil: interesting. let me talk about the impeachment back-and-forth. to the markets, it's a non-event. should they be? >> i don't think they're a big event for the markets because don't forget, if trump were impeached, and i assume you mean convicted, too, when you say that -- we would have pence. so for the moment, the economic policy wouldn't be much changed. neil: you don't see -- >> mitch mcconnell would still control the senate. but i think, yes, i think the odds of trump being convicted by the senate are extraordinarily low. it ain't going to happen. neil: because you know what the president has said, you impeach me, might as well impeach these markets, impeach the recovery, it all goes away. >> well, it's his usual style to
make everything dependent on him. you remember in his campaign, he said we are in deep trouble and i'm the only one, the only person in the world, that can save this. i'm the stable genius. well -- neil: are you surprised republicans think he's doing a better job than abraham lincoln? >> i saw that poll. well, he certainly hasn't done a better job of ending racism than abraham lincoln did. but no, i don't think -- neil: you are a betting man, you think he gets re-elected? >> i think it's a close call right now but i honestly think it depends, he can be beat. he should be beat. but it depends on who the democrats nominate. if they go with elizabeth warren, trump will probably win, because the country isn't ready for that kind of irrational radicalism. if they go with a mike bloomberg or joe biden, i think we will win. neil: the impeachment issue for wall street, since it doesn't appear to be moving the needle,
what would, if we have a sudden development, a china crisis or something like that? barring that, what would it be? >> well, i think it would be a slowdown in demand in this country and around the world. neil: have to hit fast, right? >> it would have to hit fast. it's getting less and less likely that it's going to take place before the next election, which will help trump, after all an incumbent president running in a good economy usually wins. this good economy in my view is not due to trump. i remember that when barack obama was sworn in in 2009, that month he was sworn in, we lost 700,000 jobs in this country. 700,000 jobs. the country was on the verge of a depression, as was the world. in the next eight years, we got that turned around with the leadership of obama and other people -- neil: would you give this president any credit for continuing bringing it to a new level? >> no, i think probably his
corporate tax cut gave it a sugar high for awhile. i think that's over now. but i think that in the long run, he will have hurt the economy because the deficits are so big and we are going to have to confront them sooner or later. neil: we never do, though. we didn't under barack obama. >> not exactly, neil, because you remember bill clinton turned a big deficit into a surplus. neil: you're right about that. that was then. this is the world now. >> obama turned a trillion dollar deficit and lowered it to $400 billion. neil: we still ended up with $8 trillion plus more in debt. >> yes, because we still had those big deficits as it was going down to $400 billion. so we did end up -- neil: your argument, whoever gets in has to get a handle on that. >> somebody has to get a handle on that. at the same time, solve the problem of the 80% of the people who are doing very badly who can't send their kids to colleges, who can't afford their health insurance, who can't go
on a vacation, who have to borrow money to survive. so we have to get the deficit down because it's unsustainable. at the same time, we have to figure out ways, and there are ways, to help the very disadvantaged. one thing i think would be a great improvement, buttigieg is the only one i know of who has mentioned this, we need vocational training programs. the middle class lost their good jobs because used to be you could go to high school and get a great job in the manufacturing sector of the american economy and be middle class. that's how i grew up, in that environment. not true anymore. those jobs have either been outsourced to foreign countries or more so, they have been eliminated by technology. neil: we shouldn't forget that. >> they are going to continue to be. neil: all i know, my plumber has people. obviously they have a gift and they have -- >> there are jobs out there and there are jobs that take maybe six months to a year's training
beyond a high school education, and we -- so there's hundreds of thousands of jobs that are going unfilled because we don't have the people to fill them. if we invested tens of billions of dollars in training those people so that they could fill the jobs that are empty, those jobs tend to be in health care and technology and so forth, we would do a great deal to alleviate the pain of the middle class. neil: pretty important jobs. wish we had more time, my friend. hopefully have you back many many times. steven robert, a very calming, soothing voice here that goes against sort of the wall street grain. you are welcome here. i have known him for decades. he does make you think both with your head and your heart. we have a lot more coming up, including whether with your head or your heart, you plunk down better than $50,000 for a new apple mac pro. i'm not exaggerating. that's the price. are you in?
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and will it keep me in the holiday spirit? yes! with comfort and joy. so, you can really promise better sleep? not promise... prove. and now, 0% interest for 48 months on all smart beds. only for a limited time. neil: you know, i saw this and i wondered, this can't be right. apple selling a new mac pro, their top computer, that could cost you, the souped-up model, i guess, i hope it's the souped-up model, more than $52,000. only person i know who can afford there is deirdre bolton who has the details. is this true? deirdre: it is true. the base price is $6,000 so -- neil: how do you rachet it up? deirdre: they are basically adding every thing you can possibly add. i also want to note this is not a computer meant to be under our christmas tree. this is really for pros. these are for people who are working as video game developers or working in hollywood and editing film. this is not really meant to be a
consumer driven, it's really for businesses. neil: is it all the memory, all the hard drive stuff, everything else? souped it up? deirdre: you could create, edit, produce a film on one of these machines. so there are some people who say hang on, i still have to pay $400 just to get the wheels attached, this is on social media, then you have -- neil: they don't throw the wheels in? deirdre: exactly. that actually, of all the things, that caused a bigger hub-bub than you can imagine. when hp makes an enterprise level computer that's kind of similar that costs $80,000 -- neil: are you kidding? deirdre: yeah. no, these are for pros. it is the most expensive mac ever made, for sure. it's the first upgrade since 2013. so you did actually have a lot of professionals waiting for this upgrade. the other first is that it is 100% put together in texas. as we know, president trump went to austin, texas about two weeks ago, he toured that facility, so mostly parts of apple's, you know, has been in china, right,
that sort of supply chain and this is the first time, there's our president there from our two week ago footage, visiting that plant, and this was a big departure for tim cook, just saying okay, 100% made in america, put together here and of course, then they get to avoid any tariffs when these are shipped back to our country. no risk for them. neil: he has not run into the buzz saw of criticism fellow tech giants have. he has a nice way of working with the president. deirdre: he really does. i think as a ceo, that's part of your responsibility as a ceo is to get along with whatever administration is there. you're looking out for your business, for your shareholders, and tim cook has certainly done both. neil: let's talk a little while i have you here, disney plus. it's on fire. deirdre: it is on fire. so there's a mobile app research firm. they say disney plus has been downloaded 22 million times on mobile devices since its launch which was about four weeks ago. it is averaging apparently 9.5 million daily users.
so to your point, this is very much on fire. i actually was looking, you know, disney plus just as a reminder only rolled out in four countries outside the u.s. so this hasn't even hit latin america, it hasn't even hit europe yet. this may be one of the reasons why bob iger was just named businessperson of the year. i'm sure you saw that quote from the magazine just saying all odds were against big tech, big media and bob iger -- neil: they don't have, despite their incredibly impressive library, they don't have everything in it, on it yet. some things have to wait. deirdre: not yet. for most families who have little people in their household or who have "star wars" fans, disney plus seems to be a must go to. neil: i find it very easy to navigate. netflix, first of all, is very repetitive but this one is very easy to get through. for a dunce like me. deirdre: not at all. what they also did was package it well.
you can have that $12.99 per month package where you have disney plus, espn plus and hulu so they priced this right. even if you are just doing the disney plus at $6.99, that's much cheaper -- neil: if you are a verizon customer, whatever, some are getting a year free. deirdre: that's right. that's right. verizon did offer that free service to wireless subscribers. neil: not too shabby. deirdre: guess bob iger has well earned -- neil: he could afford that mac pro. deirdre: he certainly could. all kidding aside, because of his honor from "time" magazine i was looking up his background. he took over at ceo 15 years ago. if you bought on the day he took over, if you bought disney stock, you would have made 444% on your investment. that's how much the stock has risen during his tenure. neil: incredible. and there were concerns about him. remember? deirdre: yeah. neil: untested guy. deirdre: michael eisner is the perfect guy, who's going to take over for him. in 1974 he was a studio
supervisor for abc. he says it was some guy who was friends with his uncle, he didn't say took pity on me, when he was a young guy just said okay, we will help him get a job. now forbes has him estimated at something like $690 million. he said that first year in 1974, i think he made $7800 for the year. neil: yeah. all right. thank you very much. deirdre bolton on all of that. someone like that just rising to this status, you are saying okay, well, i think i will eat at a fancy restaurant tonight. how's that. meantime, cheap oil causing a big problem for chevron. we might say that's a nice problem to have. unfortunately not for chevron. we will explain after this. (chime) (shaq) magenta? i hate cartridges! not magenta! not magenta. i'm not going back to the store. magenta! cartridges are so...
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the bad thing is if you have a lot of energy in your portfolio, and it starts marking down in value, you have to start marking that down in value. chevron did it to the tune of $10 billion. others likely to follow suit. when a good thing can be a bad thing. phil flynn follows that very closely. phil, what do you think? >> i think it is a bad thing but it's also a good thing, because chevron realizes they have to put their money in a more efficient area to produce oil and natural gas. a couple years ago, everybody was like hey, we are going to be the biggest producer in the world, they spent a lot of money buying a lot of oil fields with the assumption that natural gas prices or oil prices were going to stay strong forever. guess what? when you produce more supply, that doesn't always happen. a lot of these fields that chevron is looking at writing off or walking away from are fields that, you know, in a
different environment would be very profitable oil fields. but when you've got prices very very low, they don't make any sense to produce. so this is a term they use called proven reserves. proven reserves are oil fields that they can use that they can make profitable but at this level or price, it's not profitable so the best thing to do is walk away, put your assets where it will be profitable. that's going to be good for the shareholder and ultimately it's going to be good for the market. neil: all right. phil, thank you very, very much. phil flynn following all of that very very closely. i don't know if you have heard this. tesla is looking out for you and you, you know, your windshield that maybe you can clean them up with lasers. that's right. a laser technology. where have we heard that before? laser to clean your window? stick around.
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♪ neil: you know, christmas is two weeks from today. from today. not putting pressure on you right now but tis the season so you better get hopping. it's also the season for ugly sweaters and apparently it's become a multi-million dollar trend the likes of which white castle is rewarding by giving you big old discounts if you come in in an ugly sweater.
others are considering doing the same thing. we don't have to pay some of my guests today to do that. they came in that way regardless. i don't think this was by chance. talking about fox news headlines 24/7 reporter carly shipkin, melissa wegmeister and jonathan hoenig. i might instantly reward right now jonathan the ugly sweater reward and get it out of the way. all right. very good to have all of you. this is always the big thing but now they are trying to capitalize off it. >> it wasn't too long ago that ugly christmas sweaters were sort of this embarrassing thing around the holidays but like you said, it's now this multi-million dollar trend and it's because they are fun and festive. it has gone a little bit too far, though. walmart just had to apologize because they were selling an ugly christmas sweater that had santa doing cocaine and they had to pull it off -- neil: that's a problem.
>> for the most part it's innocent fun and even popeyes is selling these sweaters for like 45 bucks. so not cheap. neil: all right. but it is the trend now. it is the rage. some of it could be embarrassing and it's something that's rewarding. >> we are not embarrassed. neil: you would have been here like this anyway. >> absolutely. this one was red lobster. carly pointed out there's a pocket here for your biscuits to keep them warm. so it really is a business. clearly these restaurants are cashing in by having their logos and the food products on here but i did some research and if you just do a simple google search, you see christmas sweaters are sold everywhere. every retailer is getting in on the business. h & m sells one for $19.99. then you have midlevel, more high end retailers have them for like $350 but last year, gucci came out with a holiday sweater collection. they retail over $1200. one of them was $5,500.
you know gucci's business has been at an all-time high for two years. neil: that's hoenig kind of money right there. >> neil, we should be surprised, corporations are getting in on the act. the ugly christmas sweater trend, that represents the best thing about christmas. it's the materialism. it is the commercialization. it's the fact that we are so wealthy as a society now, we can actually have gifts that make fun of other gifts. it's not a religious, it's simply great holiday fun. that's why this condition continues to grow and is embraced by people who don't even celebrate christmas. neil: indeed. we should say that everything is back in vogue. this is where i want to cue dr. evil. take a listen. >> i have one simple request and that is to have sharks with fricking laser beams attached to their heads. neil: here's why i am doing this.
tesla has just filed a patent to use lasers that clean your car's windshield. what do you think? >> well, this is -- i didn't understand the dr. evil connection, but i loved the impersonation. it sounds like tesla is trying to remake the windshield wiper which i think is a really interesting idea. i don't think it's ever been done before. neil: with a laser. >> with a laser. neil: water but not laser. >> i think tesla needs to fix their shatterproof glass, because we know how that went, before they start shooting laser beams at their windshield. neil: they are applying for a patent and will likely get it. that could be a game changer, i guess. >> as someone who works in media, i always think of the headline, the attention it's going to get. your dr. evil impersonation was the best way to explain that. neil: that's how i roll. >> now we are all talking about it. neil: exactly. exactly. it's a brilliant move.
i don't know what was the demand for it but we are talking about it, right? >> something is happening besides a little bit of buzz. we know elon musk is a master at that. look at the stock, tesla stock. it's gone from about $250 a share to $350 a share just since october. so investors are believing in this. you got to give the guy credit. he really is almost the thomas edison of our day. without any public/private partnership he's re-inventing the way car windows have been washed for decades. this is a great step up and we the public are the ones who benefit from this innovation once again. neil: you ever worry, though, that you put the laser on, you know, your front window and all of a sudden, the thing shatters? >> well, certainly since tesla's little bit of botched rollout with the shatterproof glass, you know they will work out the kinks here. there will be tremendous innovation from tesla and those who come behind it. once again, it's only in a free economy with innovators like
elon musk. neil: absolutely. well said. meantime, just a few minutes ago, you might have seen ed st. john here, the multimillionaire who shared the wealth with his employees when they got to a goal sooner than he thought. take a look. >> why did you do it? >> well, we achieved our goal of 20 million square feet we built and developed and leased, so we did a spreadsheet on a million dollars and i didn't like the numbers. and we did two million, then five million, and i thought about that for a day or so and i came in, i said guys, if we can give ten million away in charity contributions to a university, we can give ten million to our employees and it's going to mean something. neil: you heard him right. that's $10 million. all right. i'm done. $10 million. the top worker, most experienced worker, been there the longest, will get $170,000. someone who just stepped in the door that day gets $100. not too bad.
what do you think? >> i actually just saw him backstage and said do you want to talk to my boss. he laughed. here's the thing. as a millenial, you know, today it's not the same as it used to be. people are not life-long career people that stay at the same company for their entire career. people jump around. i think that aside from being incredibly generous to your employees, this is not just showing them your loyalty, it's kind of getting their loyalty. this is a way to -- neil: very little turnover. >> i think that's such a good point. this is such a feel-good story and the video of all the employees crying was amazing. it's also an incredible display of the trickle-down effect of a successful company. there are so many negative stories about corporate greed in big business and this just totally flies in the face of that. neil: you share the loot with your workers, right, jonathan? >> that's how you keep them. especially in today's job environment, you have to compete to get those top workers. and this flies in the face of that leftist stereotype of the
evil ceo just sitting around counting his money. what this gentleman said was this bonus was afforded because they reached their productive goal, because they had been successful and profitable as a business. that's what affords this type of bonus and both the employees and the ceo should be commended. neil: it's definitely a feel-good story. it's already upped the ante. it's $20 million if they reach the next goal, doubling the square foot they have under management. their real estate concern much more than that. guys, thank you, ugly sweaters and all. would you buy marlon brando's apocalypse now watch for better than $1 million? guess what? someone bought it for more than $2 million. (vo) the flock blindly falls into formation.
voters. the prime minister of britain, boris johnson, using a sort of play off of "love actually." take a listen. ♪ ♪ neil: pretty clever, right? that's the prime minister doing that. joe, i don't know if that closes the deal and gives conservatives the victory they need to widen their lead in parliament, close the deal on brexit all at once, but what do you think? >> i don't know. i read yesterday boris johnson was saying it's going to be a
surge of babies like there was when london won the olympics because of the passing of brexit. i don't know if any of that is true. i think there's a lot of the uncertainty that's been priced in and it's reflecting nobody knows what's going to happen although there's a presumption that brexit will then pass through but nobody knows exactly what brexit is anymore, because we don't know if it's a real leave, a kind of leave, so again, i think it's priced into the market. i don't think there will be any big surprises tomorrow. it probably passes and johnson stays the prime minister. neil: he's got to widen that conservative lead. i'm wondering, doing something like this, you know, even those who don't flip over the conservative government like him, they get a kick out of him and doing that play off the movie "love actually" is probably another reason why. will he get that, you know, souped-up majority to do everything he wants? >> well, i think you make a great point. it isn't just winning.
it's getting the majority such that he can actually get through what it was the parliament's already agreed to, which was the deal that boris johnson struck with the eu to avert a hard brexit and get this to move forward by january 31st and on a path towards solving for what it was that the population agreed to three years ago. i think there's better than 50% odds that that does occur. he seems to be holding at least a double digit lead in the polls at the moment and probably at least isn't hurt by that infomercial. neil: if anything, it could help him. we do know depending on the poll, these are always spotty, that lead is slipping a little bit here, but be that as it may, i'm curious while i have you both here, the pressure this president is under on this side of the atlantic and how he is going to survive impeachment, the economy is a good backdrop for him. what do you think? >> i think the economy's obviously doing fantastic. we are up over 27% through yesterday. that's a heck of a move on the
s&p. unfortunately, a lot of people have missed it. they have been out for a lot of the last ten years and even now, there's been so much uncertainty with trade battles or brexit or the phantom recession we thought we were going to have, all of these things have kept a lot of folks out of this recovery which is very very sad because obviously it's been a very good year, recovering lots of the fourth quarter's decline. the president i think has shown that he knows how to get through a lot of the noise and unlikely, while it's possible the impeachment passes through congress, i don't think anything's going to happen in the senate. we will probably have a short window. this is probably gone by february and i don't think as you can see from the markets, it's really not having an impact on a day-to-day basis. unless some big bombshell happens which again, given all the scrutiny is unlikely, we are probably going to see more of the same in the markets which is that generally positive market,
little bit more volatility going forward. neil: you agree with that, more of what we've seen into the new year? >> i think we have another good year ahead of us in 2020 in the equity market. certainly that's our view. i don't think it's necessarily going to be similar to at least the order of magnitude we saw this year in which we had that 25%, 27% in u.s. stock prices but good nonetheless, particularly for international equities, as i stand to think growth abroad is looking very much like it's improving. not that it's necessarily going to do so much better than the u.s. but on a relative basis, that may be enough to draw sponsorship into overseas equities. but i think unlike what was mentioned, this isn't a phenomenon that's helping president trump by way of the stock market. i mean, it's the real economy that's also improved measurably under his administration relative to the strength in the labor market and wage growth and elevated confidence raising and household net worth. all the things that prime the
consumer to propel this economy in a positive basis. neil: gentlemen, thank you. great job as always. i appreciate it. the judge who blocked funding for the border wall, not all of it, but at least the part that the president wanted to do, with some extra funds, the judge said you know, you went too far. after this. ♪ i'm your 70lb st. bernard puppy,
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some people say that's ridiculous. i dress how i feel. yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real. what's your idea? i put it out there with a godaddy website. make the world you want. neil: all right. so much for the president spending all the money he could get his hands on to build that wall. a federal judge blocking some of it, a few billion dollars worth, that was emergency funds, she says were misappropriated to do that.
the we build the wall president joins us now. he is separately raising private funds to do just that. very good to have you, brian. what do you think first off what this judge did, that she is arguing the president sort of overstepped his authority by using these funds? they were essentially misappropriated? >> i think they are dead wrong. we elected the president to do a job and that was to build the wall, and the democrats are doing everything they can to stop president trump from building this border wall. you know, i think it's 100% legal what he's doing and we are seeing the trump derangement syndrome take place yet again. neil: all right. how are you doing on the private money raising for a wall? >> we are doing incredibly great. it's all american citizens who are donating to this project, to build the border wall. we are uniting americans to do this. we have been doing it ever since last year. we completed one border section in el paso, dhs chief just came out fully endorsed it, it's totally changed the game.
we are down to mission, texas right now building another wall. it's going to make a big opportunity for the president to step up because we can build 200 miles privately right now in the state of texas, if the president trump gives us the green light. we are ready to go for him. neil: you know, the big rap against a wall is that it doesn't effectively do the job. i know your wall comes with a couple caveats here where, you know, it tips off security monitors 100 yards or more before you get to the wall to notify authorities that people are trying to break through, right? >> right. it's a smart wall. i think that's what we need to take notice, that this is a wall doesn't stop everybody, but when you have a smart wall, it's going to deter people, allow detection and we built exactly what the border patrol agents asked us for, and that's why it works, and it's american people coming together to chip in and give five bucks and get the wall built. that's what we're doing. that's why we're doing it. neil: thank you very much.
apositively jazz flogize for ti. meantime, that boeing hearing on what led to the 737 max and all of its problems is in recess right now but if you are looking for any one solving this any time soon or that plane flying again, keep waiting. more after this. critical skills for scientists at 3m. one of the products i helped develop was a softer, more secure diaper closure. as a mom, i knew it had to work. there were babies involved... and they weren't saying much. i envisioned what it's like for babies to have diapers around them. that's what we do at 3m, we listen to people, even those who don't have a voice. at the end of the day, we are people helping people. most people thinkho as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences.
>> all right stock down again, the whistle-blower in case saying you know what the 737 max, should not be flying any time soon, here why is. >> i believe, production problems at factory may have contributed to these two kraishz don't believe rairths are make enough attention to that i am calling for further investigation. >> all right. so that means not going to be flying this year, it could be put into next year that is leading to selling, thousands ofdz plantation already, on the books, some just sitting on runways going nowhere fast we will continue monitoring
that fed decision that is due minutes from now, jackie to take you through all of that in for charles payne, to you -- >> good morning to you i am jackie deangelis for karpeles this is makeing money. >> we are moments away from finding out what central bank is going to do with interest rates, expected fed will leave rates unchanged then at 2:30 we are going to hear from fed reserve chairman jerome powell on state of our economy and global groepth conditions investors will be looking for any insight into fed past, 2020 will rates remain low into next year we've got all those words and phrases going to move stock market facts mixed ahead of announcement investors digesting news that president trump might delay a tariff hike on chinese goods set for sunday. also biggest ipo in the world
trading for the first time, saudi aramco shares surging above opening price we have that report in a little bit. but now, let's get straight to edward lawrence at the federal reserve, o dow. >> federal reserve levers rates unchanged federal reserve predicting they will keep the rates the same through 2020. they are proemgdz a rate hike, in 2020 -- 202 another hike in 2022 as we look out the funds rate within one and a half percent to one and three-quarters% a unanimous decision on this, breaking its string of dissension four in a row the last time we had a meeting without a dissension april 30 in the statement federal reserve committee says current stance of monetary o policy to support the sustained expansion, the fed will monitor global developments as well as muted inflation as they