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Transcripts For FBC The Journal Editorial Report 20171009

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Mourning. We struggle are to the words to explain to our children how such evil can exist. How there can be such cruelty and such suffering but we can not be defined by the evil that threatens us or the violence that incites such terror. Words can not describe the bravery that the whole world witnessed on sunday knight. Americans defied death and hatred with love and with courage. We will all have to wrestle with the horror of what has unfolded this week, but we will struggle through it together, and we will overcome together as americans. Lets bring in wall street journal columnist and Deputy Editor Dan Henninger and columnist, mary ogrady and bill mcgurn. Bill, what do you make of the president s response . I think it was right. It was the right tone. A president needs to to and visit. He is a national figure. I also think the tone of the people out there, we saw incredible stories of bravery and its a very american story. People in official positions standing up and not running away from the fire. There was a marine that stole a car to drive people to the hospital. The Security Guard who got shot and doctors, it is an incredible story. The government has a big role. A lot of people took initiative themselves. Amid the heart rake there is a lot of inspiration how people, ordinary people based. Yeah. I think in the aftermath also the Law Enforcement in las vegas has been really impressive. Sheriff lombardo has been holding these press conferences and speaking very clearly being careful what he knows and what he didnt know. The press is hounding him and they he held his composure, like bill, said, very heroic story. Days when events like this get so widely publicized, horrible event, the company is bereft, they feel completely shocked down to their shoes and the president goes out there as representative for all of us. He is saying what we feel and convey to those people if we were there. Donald trump did it in extraordinarily appropriate way representing the american people. Not polarizing at all. Not at all. Speaking to our own better angels. Yeah. Marry, what about the way the debate has turned elsewhere pretty quickly desolved into another debate over gun control . Yeah, well you know, it is another crisis that some people dont want to let go to waste and certainly there is a lot of cynical, i think politicians and entertainers but i think one of the big problems as dan says, the American Public is just so shocked and stunned at this, that their first reaction is, do something. Can we do something . Because, we cant abide this. And so therefore, it opens the door for these, you know, discussions about gun control, even though people basically know that there is no easy answer to this problem. What does it say, i think the most of us, certainly my reaction to this was, oh, my god, is anybody i know in this crowd . Right. These are people that went to a concert in a place where you know, most americans in their lifetime will visit, las vegas. Right. And you dont expect to be shot at. Right. And have people falling all around you. Right. I was looking at the New York Post pictures of all the dead. The largest chunk seemed to be 30 old women out for a night out. Mary characteristically was nicer than i am on this i dont think the reaction youre speaking of is there is a reaction not just for gun control but to characterize those who disagree as haters and evil. I mean, when you have jimmy kimmel, it means you have lost the argument. Depending on him to make the case. To make the case. These people do not want a rational argument. Look at twitter, all about blood on their hands and this. We could have a sensible argument what are practical measures that may not eliminate this but might make it less possible. They dont want that this is wedge, i think frankly its, despite what they want. It is playing into Donald Trumps hands. Is anything, dan, that you have seen proposed here, on, in the wake of this, whether it be eliminating bump stocks to make a stem automatic weapon fire rapidly than it is supposed to or more background checks, would anything have prevented paddock from doing this. Nothing we know of right now. The focus is misplaced. It shouldnt so much be on the weaponry itself in the United States but on sorts of individuals who committees crimes. Whether theyre deranged or a terrorist. But paddock didnt fit each of those profiles. I understand that. For instance, Stephen Paddock bought rifles in four different states. If we used Big Data Software the fact he was buying rifles in four different states, just as a terrorist is buying fertilizer elements into four difficult stores in central database. Then you could focus on Something Like that. I know there are privacy concerns but we have to look at that. New call for gun control measures in the wake of Las Vegas Massacre but will more laws stop the next mass shooting. Im also calling on President Trump to bring together the leaders of congress and let both sides know he is ready and willing to address this issue of gun safety. Copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. This country has the loosest set of gun laws allowing dangerous people to own dangerous weapons in the industrialized world, and so what is unacceptable in the wake of the most deadly mass shooting in the history of the country is for this utter silence, this unintentional complicity from congress to continue. Renewed calls on capitol hill for gun control legislation in the wake of the Las Vegas Massacre, but would more laws prevented sundays killings and can they stop future mass casualty events . I earlier spoke to law professor, david coppell, Research Director of Independence Institute and author of the book, the truth about gun control. David coppell, good to have you with us. New calls for gun control in the wake of las vegas. I want to take these arguments, based on what we know one by one. Start with automatic weapons, if Stephen Paddock had automatic weapons that was illegal under the law, correct . Yes. 1986 federal law said no new automatics can be sold to anyone in the public. Ever since 1934 even owning a old one has been process that requires about nine months to get federal permission to do so. Okay. Letslets go to semiautomatic weapons, fire single pull of the trigger with unshot. He had a lot of those apparently including ar15s which are a popular form of semiautomatic weapon. If he adapted those to make more rapid firing like a automatic weapon that is also illegal under federal law, right . Depends how the adaptation is done. It appears he used something called a bump stock is currently legal under the federal statutory definition. That is something the congress should have hearings on. Lets talk about that because that has gotten a lot of attention. Why would have normal person who has a rifle want to use a bump stock . For people that want to go to the range to shoot rounds off quickly. That is the market for it. It is something that degrades the accuracy of the gun. Makes it less useful for selfdefense. Obviously would be unlawful probably to use it in hunting. Is there another way to adapt, without a bump stock, to adapt a semiautomatic in a way to allow it to become automatic . There are conversion kits which genuinely change a semiautomatic into a fully automatic but those are already regulated the same as a real automatic. So post1986 it is impossible to buy a new one. Okay. But if youre a determined killer, youre somebody like paddock, you can find a way, can you not, to take a semiautomatic weapon and turn it into a rapid fire automatic . Well, you could go to someone who is sophisticated with machine shop skills. If they can work down to tolerances of a thousandth of an inch iting possible to do that modification with tools. Okay. So i think what a lot of people who are just average citizens who say, you know what . Ii want to go to a concert which is safe, i dont want to have to worry about my son or daughter getting shot at public event, Country Music concert or anything else, do we really need rifles like the ar15 to be legal . Why not band them all . You cant the risk of anyone adapting them into a killing machine. You can understand why people think that because it seems so incomprehensible. As you say, people have a right to be safe when theyre out in Public Places but if youre going to go down that road which australia went down, youre talking about gun confiscation from tens of millions of people, that is unlikely to work out. The drug war hasnt been too successful in it country. This would be something much, much worse than that besides getting rid of the Second Amendment, we would have to get rid of the fourth and fifth amendment too. Your argument it would be illegal under the Second Amendment to ban these kinds of guns in the first place. Even if you did succeed making, changing the Second Amendment or passing a law that the court said was legal, you would have a major, major problem just politically on your hands getting ahold of those guns . Yeah. This is a country that was founded in part in 1775 when gun fistcation program was Confiscation Program was implemented in lexington and concord. People didnt like it then. This would cause danger for Law Enforcement if they tried to confiscate guns from the public. Australia did it. As you know they outlawed many guns in the 1990s. They had a big Buyback Program to purchase guns. They purchased more than 650,000 guns. A lot of people point to as you you australia, you know what that worked. They havent had mass casualty events they have in the United States. What is your response to that . The fact is true and new zealand hasnt had those mass casualty events and new zealand didnt change its gun laws. Countries like norway or france with much more oppressive gun laws than in the United States, still have mass casualty events, with many more mass casualties than even in las vegas. In general, australia and the United States have both seen a longterm decline in their murder rates. Asaustralia at a time when it confiscated guns and United States when we added 80 million guns to the gun supply. What would you tell the average american who says i want to go to events, i want my family to be safe . What can we do to stop mass casualty events with gun regulation or is that simply impossible . I think it depends on, from a event to event. I think, in this case, the issue of bump stocks which can, it is allegedly seems to be true, make a semiautomatic firearm fire as fast as automatic probably should be regulated at same level as a machine gun. You should have to go through the same federal process to purchase one. Okay. All right. David kopel, appreciate you being here. Thank you. When we come back, unusual, public denial from secretary of state Rex Tillerson this week as he seeks to dispel reports of bad blood with President Trump. Im not from this place but the places i come from we dont deal with that kind of petty nonsense. Today were going to talk about trucks. Which of these truck brands do you think offers best in class hd horsepower and the most capable offroad midsize pickup . Id go ram. I would put it on ford. Lets find out. Noooooooo. Chevy. Thats right, its chevy. They look amazing. Wow. Chevys killin it. Yeah, definitely. Trade up to this light duty silverado all star and get a total value of over eleven thousand two hundred dollars. Or during truck month, get 0 financing for 72 months on our most popular chevy trucks. Find new roads at your local chevy dealer. Whentertaining us,es getting us back on track,hing . And finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Nye commitment to the success of our president and country is as strong as it was the day i accepted his offer to serve as secretary of state. There has never been a consideration of my mind to leave. I serve at the appointment of president and i am here as long as the president feels i can be useful to achieving his objectives. That was secretary of state Rex Tillerson this week in unusually public denial of a report said he was on the verge of resigning over his cabinet post over the summer. Tillerson condemned as petty nonsense rumors that he called the president a moron in a pentagon meeting this came days after President Trump seemed to undercut tillerson in a tweet. He said, the americas top diplomat is wasting his time to negotiate with little rocket man, north koreas kim jongun. The president is announced next week whether he will decertify the pact. Lets bring in dan hen anyone officer, merry an establish that ogrady and bill mcgurn. What does it tell us about the team. Is it dysfunctional . I dont know that. President trump is unusual president in his conduct of Foreign Policy or anything else. That is not news. President s wax and wane in enthusiasm for the secretary of state and state department. Nixon didnt care for it so much until he put Henry Kissinger over there. John kerry able to execute president obamas Foreign Policy on iran with susan rice calling shuts. He is running Foreign Policy out of National Security council and department of defense. Rex tillerson is something of an outsider. The problem because trump has nonstop battle going on with the press, any distance perceived between tillerson and trump will be elevated and used as a wedge between him and Donald Trumps Foreign Policy. Okay, but you have put this in the context of trump and his cabinet. He publicly attacked Jeff Sessions, mary. Publicly fired tom price after humiliating him in public. He is two or three times at least, at least two, contradicted tillerson publicly, most recently in the tweet on north korea we talked about. Tough to work for a guy who does that. Yeah. I would say that they could kind of patch that up if they can fix the, what you would call strategic communication, sort of get on the same page but theres north problem that tillerson has which is that he came into the state department with this idea that he would overhaul the place. So he has got these consultants going through and looking at what the problems are and so forth. Deputy secretary John Sullivan last week went before the state, the House Foreign Affairs committee and said, were almost done. Which is, going to be a good thing. And but in the meantime, secretary, the secretary has not, has left 22 vacancies in a assistant or deputy positions. And those are key policy decision. Exactly, and the problem is in their place are Career Foreign Service officers who tend to be bringing with them all the baggage of the former administration. So i think thats part of where the clash is coming with president. There are some policy disputes. We mentioned the iran deal. We mentioned the north korean exchange. Qatar versus saudis and trump was with the saudis. Tillerson wanted to be mediator. The climate deal where he disagreed with the president. There is major policy disputes. Right. You have to get on board with your president. If youre outlining differences there, that is a problem for me. I say one thing, trump obviously is very difficult man to work with, but if you called your president a moron at a meeting of, at the pentagon, youre a moron. There are very few places where you can call your boss a moron and survive of the. Wall street journal being one. Now i, i actually feel a little more optimistic about state having read this politico argument saying he is destroying the state department. This was written by a staffer samantha power. Maybe he is doing something good. Substance on north korean thing. I think trump was actually right in the tweet. If it is good cop, bad cop next, if its a good cop, bad cop thing im not so sure that is bad. Tillerson pose through negotiations and trump saying well, were not really sure. The problem is, the real problem there weve been talking to the north koreans for 25 years. We actually reach agreements with them. And then they defy them. Theyre not going to, theyre not going to, even if we reached a deal, there is no way they are going to obey it. You made the point that certain secretaries of state often been isolated and so on but it really does mean that when Rex Tillerson goes out to asia as he did, to be the sherpa for the president s trip in november, people dont know, can i, does he represent the president or not . That makes it a very hard thing for him to do his job. I think that applies to some extent to other individuals you mentioned who have been criticized by the president , Jeff Sessions is, tom price, who is no longer here. You end up in a situation the cabinet secretaries are not working out loyalty to the person or presidency but to a country or a cause, and that matters. If Rex Tillerson still thinks he can contribute to the causes he is working for he should stay. If he decides at some point he can no longer do that, he should step away. One thing, it should be the president s agenda. If he says i will stay, i will undermine him getting out of paris and not with him on north korea, i dont think you serve someone and undermine their goals. Rex tillerson is seasoned executive. He has to be very, very frustrated to say a president is a moron at a meeting. Shows the level of frustration for a lot of people in the cabinet. I should add his spokeswoman said that he didnt say that. Right. Just for the record, we dont know of course what really happened. Still ahead as the Supreme Court kicks off what is shaping to be a block buster term well look at cases and justices to watch. I accept i dont bike as far as i used to. I even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. But no matter where i ride, i go for my best. So if theres Something Better than warfarin, ill go for that too. Eliquis. Eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. Eliquis had both. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily. And it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Im still going for my best. And for eliquis. Ask your doctor about eliquis. The Supreme Court returned to this weekend, religious liberty, union dues, it should be shaping up what Justice Ginsburg said would be a momentous term. Here are cases and justices to watch, ilya shapiro, constitutional studies at Cato Institute and editorinchief of the cato Supreme Court review. Welcome, good to have you here. Good to be on. Do you agree with Justice Ginsburg this could be a blockbuster . I think so especially with last term, scalias absence, eight member court they were not taking highprofile cases. We have already, five or six that are legitimate blockbusters. Give us a couple here. Partisan gerrymandering case, oral argument this week that could remake american politics by getting judiciary right in the middle of every electoral map in the states. Absolutely. You would have even more lawsuits about every district drawing after, already, Cottage Industry for lawyers in washington and elsewhere. This would be election lawyer full empeople act. We would never see the end of it. We would have judges drawing districts all over the place if they uphold the challenge. You follow that im sure. How do you read where that comes out . Looks like Justice Anthony kennedy, once again the swing vote . Not surprisingly, like the last couple times court taken up the issue, all on whether Justice Kennedy feels now is the time to constitutionalize some sort of a standard for evaluating when politicians use too much politics in drawing district lines. Did you get any reading where he would come out from the oral . I mean, no. You can guess but unless you hear it from him directly, i wouldnt believe it. What about the big religious liberty case which is the one coming up with the cake baker who declined based on conscience, religious conscience to bake a cake for a day marriage . That is another big one where kennedy is also a swing vote. This is called Masterpiece Cake shop and here i think kennedy is again the swing but really brings attention two things that he has become known for, what his legacy will be. He is a very strong supporter of First Amendment, freedom of speech. He is also written all the courts opinions expanding gay rights over the years. Now i, the Cato Institute weve been filing institute in support of day marriage. Were supporting the baker or others in private business who dont want to work with gay marriage. Private businesses are different than the government. For us easy to square the kiril. Well see how kennedy does. Of the different ways you can slice the case business, expressive kind of business, they send a message, versus nonexpressive businesses limo drivers or caterers. Or contract sell offtheshelf. This will be explosive case. Another one related to free speech is the socalled union fees case where the court, which was close a couple years ago to ruling on this, then Justice Scalia died. Now with nine justices it has come back. This is a case where it is going to be, concerns whether or not the government can compel somebody to Pay Union Dues that goes for speech that they dont support. Well, the argument is, by the state, about half the states allow this for unions to charge nonunion members in the Public Sector with union dues, to support collective bargaining. Theyre called fair share fees. But the challengers, Municipal Workers out of chicago and illinois two years ago in that case you mentioned, that was out of california, same issue. Theyre saying in the Public Sector anything unions collectively bargain is a matter of public policy, is a matter of speech because theyre dealing with public financing. Theyre dealing with education priorities, whether to give tenure protections versus higher salaries, all these sorts of things and we might not like what the union supposedly doing in our favor. I think the court is poised to strike down these laws. I think they were two years ago. They will do the same thing now. That would really remove a lot of money from Public Sector unions as they go about politicking. That would change american politics as well. This is the first term neil gorsuch, the first full term neil gorsuch would sit, based on cases what you know about him from last year, how will he change the dynamics of court . You dont know how things go behind the scenes. Justice byron white who gorsuch clerked, says every new justice makes for a new court. I dont think you will see difference in voting patterns. I think gorsuch is somewhere between scalia and thomas range and substance and doctrines. Im seeing green shoots from rules on the lower court in terms of not being deferential even as scalia to government, administrative law, regulatory matters. Cases he sate insofar, month 1 2 last term he voted together with thomas on every single one and he has been active in terms of questioning, in terms of writing concurrences and dissents. So he is certainly adding a strong voice, we thought maybe losing scalia more time for advocates to talk but we havent seen that. From where i sit im very much looking forward to the constitutional seriousness that gorsuch is bringing. Sounds to me what well see, it will go back to the kind of Court Dynamics at least in votes and ideology we saw before justice squeal law did. Briefly. It is left and right against the middle, weve seen that this week in couple arguments where gorsuch joining liberals protecting constitutional defendants for criminal defendants. Thank you, appreciate it. When we come back Supreme Court Justice Neil Gorsuch, just one of President Trumps judicial successes. Well look at his efforts to remake lower courts when we come back. This is what its all about, jamie helping small businesses. Damage your vehicle . We got you covered. [ glass shatters ] Property Damage . Thats what general liabilitys for. What . injured employee . Ow. Workers comp helps you pay for a replacement. Whats happening . This is carla. Hows it going . And if anything comes up, our experts are standing by. Boo Supreme Court Justice Neil Gorsuch begins his first Supreme Court term, President Trump is rapidly make reworking the low you are courts. The white house announced the 8th batch of nominees with notable picks. Were back with Dan Henninger, bill mcgurn and wall street Journal Editorial Board member, alicia finley. This is below the radar with everything going on in washington and people focusing on the Supreme Court but trump is rapidly remaking the lower courts. He made 18 nominations to the federal appeals courts 39 to the district courts. He made another four to the fifth district. Four on one circuit. This is traditionally more conservative circuit. The reason why this is incredibly important, obama really packed the courts when he was in office, especially d. C. Circuit. What youre see something lot of these judges are striking down some of trumps rule makings already, or decisions to pause rules. Okay. So what kind of judges is he nominating . Lets take those fifth circuit. You have Stuart Duncan was one of them. He was from the beckett fund for religious liberty and argued the hobby lobby case that said closelyheld companies dont have to abide by obama care rules on abortion for example . You have don will let, a lot of people know from his witty twitter feed. He had, was on the texas Supreme Court as well as james hogue, former solicitor general in texas. These are generally really very solid, conservative judges. Some of them originalists in their interpretation of the constitution. In the mold of gorsuch and scalia. Right. That is partly because he has used the Federalists Society as a clearinghouse. That allowed expedited selections. Federalist society being, kind of its a group of conservative judges, lawyers, not just judges, lawyers and so, trump has put them in a very prominent position, dan, on vetting judicial nominees. Yeah. I think it is had very positive effect. If there is any criticism weve heard that there could be more nominees that are from the law and Economics School which is applies economic rationality to the law. In the way that say the very famous judge richard pozner, the 7th circuit just retired. Pozner was one of the godfathers on law and economics. Perhaps over time well see more of that introduced in the nominees. And i mean i think, bill, trump promised this in the campaign. Right. And delivered. I think actually the dare, he promised it in response to a ted cruz attack on what kind of judges it helped trump because he is on the record saying these are the kind of judges im going to pick. It also, look in the republican party, judges are one thing people understand. It is very important Unifying Force in the party. Unifying force. It is not only about we want people interpret the law and constitution, for democrats the apple courts and Supreme Courts that is their legislature. That is where they like to go ram through things they cant get through any Democratic Legislature in the states or at the federal level. So it is very important. They will come back to rule on things that donald trump does at president but it is something we understand. When i was in the Bush White House they understood process and kind of no niece. It is one area where republicans really do have their act together. I just say one last thing. The Supreme Court has a busy stockket, some really important cases. And i think at the end of the year, were all going to owe Mitch Mcconnell a huge thank you for getting neil gorsuch on there instead of merrick garland. That something, interesting, alicia, i think gorsuch, i think mcconnell is doing his best to get all of these nominees through. The democrats are throwing up every possible roadblock, taking every delay they can, but in the end, i have talked to republican senators, theyre saying everyone of these people is going to get through. Right. Just will take a little longer. Right. Unfortunately you cant to get them on. There. Is concern that the democrats could take the senate in 28 teen. You want these as quick as possible. There are new cases pending. Oral argument, dan, gerrymander case, do you have any tea leaf reading for Justice Kennedy goes because its a big case . Its a big case. He gerrymander is difficult. Gerrymander started this in 1788 and when patrick henry. Bill voted for it. There are gerrymanders in turkey and japan. People in power will try to draw districtses in the way to favor them. Is the question is there any fairway to do that . I would guess Justice Kennedy, the one solution de jure to turn it overto nonpartisan commissions in the states as they have done in some states, florida, california. You we cant do that as a matter of policy . He can not do that as a matter of policy, but he could suggest they go in the direction, rather than as plaintiffs are saying, judges should decide. Justice roberts. Chief Justice Robert was very clear not wanting judiciary to get involved in these really intense, political fights over gerrymandering. Where do you think it goes, alicia . Justice breyer teed this up to kennedy, setting out a test he could potentially use, one of those, the standard in the tests whether it was done by one party, which is kind of steering kennedy, could potentially say, that a commission would not, would not be subject to judicial review. Still ahead as President Trump visits hurricane ravaged puerto rico, just what will it take for the island to recover . And are promises of debt relief realistic . Realistic . Listen up, heart disease. You too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies, and data without insights. And fragmented care, stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. At optum, were partnering across the Health System to tackle its biggest challenges. Or a little internet machine . At optum, were partnering across the Health System it makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Were going to work something out. We have to look at their whole debt structure. They owe a lot of money to your friend on wall street. Well have to wipe that out that will have to be, you can say goodbye to that. I dont know if it is Goldman Sachs but you can wave goodbye to that. That was President Trump tuesday in puerto rico telling foxs Geraldo Rivera that they might have to wipe out puerto ricos debt to recover after a direct hit by the hurricane maria. The territory already owes creditors 70 billion, suffered 10 of billions of dollars more when the category 4 storm came ashore on september 20th. Were back with Dan Henninger, Mary Anastasia owe grade did i and jill finley. Donald trump did not have access to teleprompter in puerto rico. Our populist president speaking off the top of his head. He does not have the authority to do that. Nor would it be good even though it sounds good to people on the island. Will puerto rico will need capital to rebuild and need access to the private markets and it will not do that if it defaults and wipes away all of the debt. Plus, keep in mind, about 75 of that debt is held by moms and pops on the mainland who are, who own puerto rican debt through mutual funds and theyre pensioners. It is not wall street. Okay. Fair enough. The, the debt load though is severe. Going to be haircuts here for some of these lenders . Oh, sure. I mean, theyre already getting haircutted through this thing called permsso. Washington idea to basically come in with a financial Oversight Board and tell two parties you need to negotiate. If you cant negotiate. Then youre going to get haircut by a judge. They didnt negotiate. So, they are going to get that haircut. Alicia, what about, what else condition donald trump actually do to help puerto rico here . Well i think, just sending them with fema obviously plays a role, rebuild the electric grid. You have the u. S. Army corporation army corps will need funding and the entire island is without power. Waiving the jones act more than 10 days, the jones act requires any shipments made to the u. S. , to another u. S. Island or territory be made or carried in a u. S. Ship. Right. And flagged. There is only about 99 of those ships that are available, and, and he waived it for 10 days, only 10 days. And that expires i think on sunday. Why, youre saying waive it for another year . Yes. Supplies to rebuild. And then for energy, i mean, they want to convert their power plants to liquified natural gas. Right now, they use oil. Much more expensive. Much more expensive. But because he is destroying the private sector markets, the taxpayers will be on the hook for all of that. Another thing is, a lot of people are talking about the jones act but another thing puerto rico could really use in terms of relief, some kind of exemption from u. S. Minimum wage, because the per capita gdp on the island is like 28,000 a year. They should not be subject to the higher minimum wage rates on the mainland. That is a big deterrent for rebuilding. Marrys point, the Labor Participation rate is 40 . They have terribly rigid labor laws. Compared to 60s in the United States. Exactly. Relieving them of minimum wage requirement would be just the beginning. This country has to be turned virtually another ireland, threw over the tax rates, allow the private economy to grow. They could use a lot of help in terms of devising a tax system that is both low and fair and simple but also that works where they can actually collect taxes because there is a huge black market on the island, an underground economy. There is real danger here, alicia, of a brain drain. Right. Young people on the island in particular, if they see that this is going to be an ordeal for several years, theyre going to florida, theyre going to georgia, theyre going to new york. Youre already seeing that. Projecting maybe up to a Million People may leave the island. Of 3. 4 million. 100,000 could, are already being expected just in the orlando, tampa area. And so the word is, that the people who are going to remain on the island will be more older, sicker people. Who will require more help. Nobody will be there to take care of them. That kind of, you know the pessimistic view. The optimistic view, people buy distressed debt. The phoenix rise out of the ashes. Lets make puerto rico a place to attract new fresh capital. People say look, there is opportunity. I will go there. Well take one more break when we come back. When we come back. Hits or misses of the week. Can i kick it . Yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone thisto a hilarioushing baudiobook on audible. G and this woman is laughing because shes pretending her bosss terrible story is funny. Still actually laughing. No longer making a human noise. Experience the comedy, not your commute. Dial starstaraudible on your smartphone to start listening today. No, im scheduling time to go to the bank to get a mortgage. Ugh, youre using a vacation day to go to the bank . I know, right . Just go to lendingtree dot com. Get up to five loan offers to compare side by side for free. Wow, thats great. Wait, how did you get in my kitchen . Oh, i followed a raccoon in through your doggie door. [gasps] get a Better Mortgage on your schedule. Not the banks. Lendingtree. When banks compete, you win. Just think of em as a big cat. With rabies. Paul time now for our hits and misses of the week. Bill, first to you. Paul, a miss to william and mary college. We are all familiar with the suppression of conservative voices on campus but, recently, a woman from the aclu was shut down when she tried to speak by a group affiliated with black lives matter which planned and live streamed the event. Next followed by a mealymouthed statement from the president which said nothing about bringing people to justice. The left is eating itself. The president of william and mary . Right. The left is eating its own. The First Amendment is suffering and our University Leaders are too craven to do anything about it. Paul mary . Paul, a hit for the state department which this week asked 15 cuban cints, aka spies to leave washington. Leave the embassy in washington. This was in response to 22 americans at the u. S. Embassy in half vanna getting sick with a mysterious disease that ranges from brain trauma to hearing loss. The cubans have not been able to tell us why our or how our diplomats were harmed. And the state department says, you know what . We had to withdraw these people. We want to get the numbers the same so they kicked out the 15. Paul dab . All right, paul. Im going to give a hit to king felipe of spain severely criticizing the leadership in catalonia for dividing the nation. This is spains biggest crisis in decades and democratic country that has been emerging successfully from the depths of the 2008 recession. And king felipes statement was an example of strong leadership saying something thats not popular but necessary. Paul all right. Thats it for this weeks show. Thanks to my panel and thanks to all of you for watching. Im paul guy tonight on war stories. The commander has fled. You are all going to b be captured. General macarthur abandons a country and his men to a brutal enemy. They just killed and killed. It was devastating. We were getting two ounce ohs of rice and thats all. Macarthur made a solemn vow. He promised to come back and believed it. Retaking the philippines, next on war stories

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