Biden, 4,000 dow points. Warren, 8,000 dow points. David hes got it all figured out. Sanders, a good 12,000 dow points. By the way, im serious when i say that. These people want to take a ton of equity out of the economy and put it in their hands. They want to tax the heck out of people and business and put it in their hands. Their hands, inefficient, ineffective, give them a dollar of tax, maybe 20 cents rolls down to what its used for, 80 cents goes to the bureaucracy. It is the worst thing that can happen. I got to tell you, some of these people running for president right now are making barack obama looking quite conservative these days. Gary, gary, they are going to say look at the economy and look at the market under barack obama. Look, i think this is a pretty ineffectual scare tactic. The president should be making the point about the free economy. Free economies are always the most process posperous. Government intervention is what causes the crashes. He should make that point, keeping a free economy. People point to sweden and nordic countries as great examples of biden, et cetera. If sweden was a state it would be poorer than all but about 12 american states. He should be emphasizing freedom, not intervening in the daytoday affairs. Part of what President Trump has done is in fact infuse more freedom into our markets with the exception of the trade war which i know you guys are going to talk about, but the truth is hes rolled back regulations and i think actually, the biggest argument he has is not just that the economy has done well, but that you have a huge spike in ceo optimism, Consumer Sentiment optimism, et cetera. We have an election where when a democrat wins, that all gets reversed. I know everybody is going to say its already reversing and i agree the trade war put a damper on that, but the truth is i think what happened in 2016 will indeed reverse itself if Elizabeth Warren or Bernie Sanders or any of these people gets elected. I think hes not far off the mark. Let me sound a dissonnant note to the amen chorus. If i could have a clear crystal ball that told me what would happen with the dow based on a president ial election i would not be sitting here talking about it, i would be sitting here trading it. Whatever happens in a year and a half, i think companies, ultimately markets can have a sharp shortterm reaction negative or positive, depending on who wins this election thats still a year and a half off, but companies are going to trade and markets i think are going to trade based on the david by the way, you said Government Intervention didnt affect the markets negatively in 2008 . I said didnt cause david i would argue it caused it but beyond that, we saw Government Intervention in a huge way after president obama was elected, even before that, with the bailout itself, but then he began to really turn the screws on the regulatory front and tax front and we had the slowest recovery in history. The market, separate from the economic recovery, the market after march 2009 did incredibly well, doubling in the next year. You do not have jfk running for the democratic nominee right now. You are talking some left of left of left. I think biden is more moderate, hes going left right now in the primary, so if i had if somebody had to lose to the democrat it would be biden. But sanders and warren, my goodness, the state taking over complete businesses and industries, that is what they are calling for and what industry has the government taken over that they have done well with . They have been over budget, over time, over everything. It would be an absolute unadulterated disaster. May i just remind everyone david i sense you dont like it. It is also the push by the government to make sure everyone bought a home, that got us into the financial crisis in 2000. That is not a fiction. That actually happened. The narrative has been rewritten now but thats really what happened. It was Government Intervention and it was a catastrophe. The worst in decades. As a general market rule, this is separate from whether or not these policies are terrible. Dont trade on campaign rhetoric. Markets i think will move based on what actually becomes policy. I disagree. The markets doomed the minute trump was elected. David it was more than a campaign promise. It was his election oh, exactly. Then you see what actually happens. We didnt need to wait. The minute he was elected president , the markets started to go up. They continued to go up because earnings have been unbelievably powerful. It was more than that. It was ceos and consumers saying yes, we agree with whats going to happen, we are unshackled, ready to invest, ready to spend, and we have seen the results of that. The most powerful thing that could have happened. Sorry, jonathan. No. Look, theres no question i believe this is a scare tactic and to zachs point, the market ultimately is free people and voluntary trade so yes, you have amazing Innovative Companies like uber, but theres just no denying that free economy, the more free economy, the more prosperous. The more socialist the economy, the less prosperous. Thats what the president in my opinion should advocate for. Liz, to your point, he has deregulated in a lot of areas and they soared as a result. We need that economy wide. David we have been talking a lot about Bernie Sanders, the 2020 candidate, of course. Hes now conceding that just one of his major proposals, medicare for all, will cost 32 trillion. Take a listen. First of all, you use the number 32 trillion which is roughly probably right. It sounds like a lot of money but you know what happens if we keep the Current System which is the most wasteful and expensive system in the world over a tenyear period . There are estimates the cost will be 50 trillion. Health care costs go up, every study shows that medicare for all will be less expensive than continuing the current dysfunctional health care system. David sanders is admitting that just one of his proposals would practically double the entire federal budget. Is this kind of socialist accounting the reason his poll numbers are dropping . Well, look, it is true, we spend 25 of our gdp on health care costs, and if you amortize that over the next ten years you will get to 50 trillion of gdp. David two different things. We collectively will spend this amount of money. David we are spending in the private sector, the other is asking the government to double it. Im not sure anyone on the panel would disagree we spend it radically ineffectively the way we currently spend it within the private sector because of this unbelievably messy lattice of free market on the one hand and public good guaranteed on the other. We dont have a good system. The system is broken. I dont disagree with that at all. I wish chris wallace, who i think was the interviewer in that interview that took place, had pressed him on where those savings would come from, because the real issue that people should be thinking about, how do you save money in health care. That was something obamacare was supposed to provide for us, never did, but the difference between these numbers are ridiculous, 35 trillion and 50 trillion, believe me, no one has a clue, is basically rationing. Its basically taking down the Services Available to people, its also eliminating all kinds of fees and reimbursements for doctors, doctor pay is going to be shrunk. I think people need to kind of begin to question where the savings come from, how does that affect a patient. The answer is not well. First of all go ahead, john. I got to say, i think we lose when you make this argument based on financial, because people like Bernie Sanders or aoc will say so what if its 30 trillion, we will find a way to pay for it. The rich will pay for it. We will make the spreadsheet where the numbers work. You have to advocate for this on a moral basis. In america you dont have a right to health care, a right to force other people to pay for your health care. Unfortunately, i think the gop has kind of given up on that. We talk to a lot of gop Congress People who say yes, we will make sure everyone is covered. What makes america exceptional is that you are an individual. This notion of a right to health care, right to education, this is just the basic premise of what makes this country great. First off, when you get a number from anybody in government, just think the big dig from boston. Thats number one. 32 trillion means 96 trillion. We know that just from experience. But the most important part of the equation, he will destroy health care if he takes over health care. In the united kingdom, with all their best efforts, the amazing part of it, sixmonth waits for surgery, to get in line for doctors, for anything. Why . Because you take away all competition when you take away competition, party over. So again, we started out with this thing about how much things are going to cost. The cost is going to be on our lives and how we go about health care. Thats going to be a huge, huge problem. David the other thing is he doesnt seem to see any difference between Government Spending 32 trillion and the private sector. I know its a mix, the health system, of private and public, but there is a difference. To double the budget of the federal government, he doesnt like allusions to venezuela but you have to do what venezuela did which is print phony money which means hyperinflation. This is part of the challenge of responding to rhetoric as policy. There is no chance in our lifetime that we are going to have a completely socialized david i hope youre right. There is certainly a mandate for a more effective and costeffective because if you are a middle class family paying 9,000 a year for a statesponsored obamacare exchange, thats just too much money. David got to leave it there. Thats a good place to leave it. We all agree with that. Tariffs are becoming one of President Trumps primary negotiating tools for trade deals but is this the best way to go . Curtis ellis, America First policy director, is back with us coming next. We had a deal with china. It was over 150 pages, on seven chapters. I think its always useful to remind the American People what we are trying to negotiate an end to. 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It helps, its very inflationary so it helps make sure that Companies Either arent going to be in business or they are going to be passing prices along. Reporter these tariffs would have a Significant Impact on the toy industry. 95 of the industry is made up of ma of Small Businesses and many cant absorbed these increases. Reporter many are encouraging the president to stay on track with these tariffs, saying that in forcing this latest round of tariffs would actually help level the Playing Field with china as they think they continue to take advantage. Im here today to support the administrations 301 tariffs against china because it starts on an unlevel Playing Field and hopefully can insert manufacturing back into the western hemisphere. Reporter this new possible round of tariffs would have a big impact on consumer goods. They would be hit the hardest. The National Retail federation estimates that the latest proposal would mean that consumers would pay 4. 4 billion more for clothing every year, and 2. 5 billion more for shoes every year. David . David hillary, thank you very much. Now joining us on the panel is curtis ellis, America First policy director. Good to see you. We got about 300 Companies Making their case, most of them against the tariffs, not all, but most of them are. How would you make the case to those who are against the tariffs that it is in our best interest to have tariffs against china . Well, support the country that supported them. I would make the case to them they should move their supply chains back to the United States, back to the western hemisphere. If you outsource these jobs, which they did, beginning 20, 30 years ago, they are also outsourcing their consumers. People are earning less, they cant afford to buy the products they are trying to sell. Incomes are dropping. So look, these are the same companies that moved to china 20, 30 years ago. They made a bad business decision. How hard was it to build a Global Supply chain in the maoist era in china . It was hard. They can build a supply chain again back in the United States, back in the western hemisphere. If they start employing people in the United States or perhaps even in honduras and el salva r salvador, that will solve a host of problems. I dont think you can really say it was a bad business decision except they all concentrated their outsourcing in one country that was unreliable and definitely not a friend to the United States. Instead of going to turkey and mexico, they did partly that and other countries like thailand and vietnam which they are doing now. It seems to me they kind of put all their eggs in one basket. Heres what i would like to say. The letter that all those companies wrote to President Trump, they all said we agree with trying to do this, we think youre on the right track, just dont use tariffs but they dont really come up with an alternative way of making china level the Playing Field. What is the thinking there . Thats exactly right. They are very quick to point out what you shouldnt do. Right. Unilateral disarmament. I hear the tapping of neville chamberlains umbrella on the cobblestones of munich. Everybody agrees china is a bad actor. Maybe they will even interfere in our election to help joe biden win, who knows. Seriously, they are a threat to our way of life, to free markets, free enterprise, and nobody is suggesting what to do. Tariffs are bad, we cant do this, we cant do that, but youre right. One answer would be to treat the theft of intellectual property the same way that they treat intellectual property when it comes to gucci handbags. When a shipment of counterfeit handbags come into the country, those who peddle it are arrested. You guys come up with every excuse, i know you dont like to admit it, these tariffs are taxes. Optional taxes. Well, listen to the hundreds literally of american manufacturers, you know, they employ a lot of people, too, who are saying this is going to cost our bottom line a lot of money. They are willing to pay that bottom line to save our way of life. I met some of these manufacturers in ohio last week. The same conservatives who said that you shouldnt be forced to buy obamacare are now saying oh, no, but you should be forced to buy american its a real insult to freedom and your choice as an american to buy what you want to better your life. You sound remarkably like someone in the 1950s talking about the red peril thats going to sweep across the nation. There was a challenge from the so soviet union. There was no domestic red peril. China does not represent a threat to our domestic way of life. Its called the fortune 50. The u. S. Chamber of commerce. They are the fifth column right now. Wow. You are totally entitled to your point of view but rhetoric of saying this is a threat to our way of life does not make it so. New balance, by the way, let me finish, new balance which has committed itself to manufacturing, they are domestic american manufacturer that is one of the few bright spots of the economy, saying we live in a world of Global Supply chains. You cannot just go to thailand and honduras and turkey and not include one of the largest economies in the world, and to rebuild those supply chains is going to cost you way more than the 50 billion. You want to rebuild supply chains, absolutely. Do a trillion dollar spending plan that helps manufacturers rebuild it and then i might start agreeing with you. Tariffs at 50 billion relative to the Capital Spending cost a company like new balance has to do to totally reshore supply chains, forget it. It doesnt add up. It will take time to redo supply chains. Meantime they can apply for exemptions and exclusions. There is your cronyism. Theres your cronyism. Jonathan, you are making the old arguments of a libertarian. These libertarian arguments dont hold up because the entire theory of free trade doesnt hold up, because the entire theory of free trade is based on things that have been proven untrue. Capital is mobile. Oh, really . Yes. Capital is mobile. People can move factories. David ricardo based his entire theory on the assumption no one basically they have. Curtis, curtis, we would we now see people are investing their capital all over the world. So the fact is production is mobile which they werent in 1903 when ricardo made up his little theory. Hold on. Curtis david without the insults, gary, go ahead. Yeah. We were told that tariffs were a tactic and all i know is 15 months later, heres a little scoreboard, the farmers got killed, the president gave the farmers 28 billion from the Commodity Credit Corp which is basically taxpayer money. Now we have maybe additional and you have very good businesspeople saying you cant do this or we may have to close shop, its going to cost money, its going to cost consumers. At what more cost do we get to the point where we say the tactic is no longer working, we have to do Something Else . China is taking the middle finger and sticking it back at us. The tactic is working. China is at the negotiating table. Mexico decided it would use its territory as a wall to stop the Central American migrants and these great businesspeople, the same people who told us if we invest in china back in 2000, it will become a democracy just like norway and sweden, and they wont be militarized and they wont be stealing from us. Well, they were wrong then and theyre wrong now. David curtis, you are our guest. You get the last word. Great to see you. Thank you for coming in. Appreciate it. The socialist versus the billionaire. Alexandria ocasiocortez slamming amazons Ceo Jeff Bezos. But amazon is now firing back. Why they say the congresswoman needs to get her facts straight. My experience with usaa has been excellent. They really appreciate the military family and it really shows. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. It was funny because when we would call another insurance company, hey would say oh we cant beat usaa were the webber family. Were the tenneys were the hayles, and were usaa members for life. Get your usaa Auto Insurance quote today. Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . 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Its his being a billionaire is predicated on paying people starvation wages and stripping them of their ability to Access Health care and also, its his ability to be a billionaire is predicated on the fact that his workers take food stamps so im paying for him to be a billionaire. David now, amazon firing back, tweeting out aoc is just wrong. Amazon is a leader on pay at 15 minimum wage and full benefits from day one. We also lobbied to raise federal minimum wage so has the congresswoman lost her argument by claiming that amazon owners are starving their employees . Well, let me put the pieces of the puzzle together. You have aoc that in part, and a lot because of her cost Long Island City about 40,000 amazon jobs. I think its a total of 100,000. Yet shes telling them what they have to do and how they do it and how much to pay. Yeah, this works out very well. Look, it all comes back to somebody who believes the state should be running the show and people who make too much money did not earn it so they have to give it away and basically, it has never worked. We have seen it in many other countries around the globe. I know they dont like being compared there but all these proposals of trying to tell people what to do dont work anywhere. What an unbelievable insult to jeff bezos. Jeff bezos is a billionaire not because he stole it from employees, but because he created, he changed the world. He created billions and billions, a win win relationship. Not to sound curt, but if these people are worth more than 10, 15, 20 an hour, go out and earn it. Aoc is out to lunch as usual when it comes to her micromanaging of the economy and peoples private individual choices. First, hopefully jeff bezos can handle the insult. Secondly, there are a lot of Seasonal Workers that amazon hires that are not workers so they can make the statement their workers are paid 15 plus benefits. Some of their Seasonal Workers are not. If aoc really wanted a better target she could probably go after dry cleaners and people who deliver food for grub hub or door dash or whoever they deliver for in Long Island City, none of whom are getting paid 15 an hour plus benefits. Its an easy target because we are talking about it. Its probably not a target that makes any sense for her constituents and not a target that really makes that much sense for the United States. I think this is offensive on two grounds. One is, im sort of tired of aoc simply not getting her facts straight. If she really wants to be a voice for the democratic party, know what shes talking about. It could be that there are big retailers, certainly walmart has fended off these kind of charges in the past. Amazon really is not in a position to have to defend itself on its pay. By the way, secondly, i agree with jonathan, people have free will. Why is it the democrats always assume that people are victims of everybody and everything because they have no free will. If you dont like working for amazon, heads up, there are other companies, particularly today, in this trump economy, that are offering pretty good jobs. So this is kind of a boneheaded thing. David im going to give jonathan another kudos. You are getting two kudos in one segment which is unusual. You said this is a win win situation. Not only did the billionaires make billions of dollars but the people working for the billi billionaires very often improve their living situation. The aocs of the world dont see it that way. Maybe because they have been in office too long. The way they see it, its a zero sum game. The only way you get rich is if i get poor or the other way around, whichever it is. They cant see the rising tide lifts all boats as jfk used to say. Thats exactly right. They dont see that. What they dont see is the tremendous, i mean, anyone can publish a book, anyone can get out there. Its changed the world for the better. Hes created trillions of dollars. All aoc can see, his success and it reminds me of the old australian saying, cut down the tall poppies. She sees successful people, she wants to cut them down. Its the hallmark of socialism. With all due respect, Bernie Sanders resume in the real world of work, zero. Hes never created a dime of wealth, never created a job. But amazing, he goes after walmart, the greatest job creating machine in history, where 75 of the managers of their stores started at minimum wage. Thats the way its supposed to be. Now aoc is just following that template and its amazing, they are going after the greatest companies, the ones that have created all the wealth. I think amazon, what is it, like a trillion dollar market cap or Something Like that . It is insane. David got to stop this segment because gary is losing his voice. Hes getting so emotionally charged by all this stuff. Just days after two oil tankers were attacked in the gulf of oman, iran says it is set to surpass its nuclear limits. So how should the u. S. Respond . 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Who used expedia to book the Vacation Rental that led to the ride which took them to the place where they discovered that sometimes a little down time can lift you right up. Flights, hotels, cars, activities, Vacation Rentals. Expedia. Everything you need to go. When it comes to type 2 diabetes, are you thinking about your heart . Well, im managing my a1c, so i should be all set. Actually, youre still at risk for a fatal heart attack or stroke. Thats where jardiance comes in. 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We are confident we can take a set of actions that can restore deterrence which is our mission set. David secretary of state mike pompeo keeping all options on the table following last weeks suspected attack by iran on two oil tankers in the strait of hormuz. Now, this as an iranian official says the country will breach limits of the nuclear deal within the next ten days, and we are just getting this news in. U. S. Officials telling reuters that we are preparing to send more troops to the middle east in response to the threat. Lets bring in former state Department Senior adviser, Christian Whiton for more on this. We are still waiting to hear exactly what the troops might be used for, but is there a red line that iran has to cross before we see specific u. S. Action . I think realistically you have to realize we crossed that long ago. Dont just look at this announcement that iran is taking another giant leap forward when it comes to nuclear blackmail. Look at the pattern secretary pompeo has laid out. They tried to bomb our embassy in baghdad. They succeeded in injuring u. S. Troops in kabul. They have attacked not just the two tankers recently, but they sabotaged four tankers previously, making good on their promise to close the persian gulf or to affect commerce in the persian gulf, then look at their history since 1979. This is a regime that for 40 years has seen itself as at war with the United States, in charge of spreading war throughout the middle east and killing americans. They have been pushing on an open door with virtually no response, no serious response from successive u. S. Administrations and its time to push back. They attacked us with a maritime assault so that is a perfect avenue for retaliation, to strike their maritime capabilities and we can maintain escalation dominance by promising to disable their Nuclear Program if they take this any farther. Christian, its jonathan hoenig. As you mentioned, iran is the number one along with saudi arabia state sponsor of terrorism. They have been at war with this country since the late 1970s. What would it take in your professional opinion, remember reagans famous or very Successful Air strikes on the libyan outposts in the mid19 s mid198mid1980 mid1980s, what would it take for President Trump to enact the same sort of strike against some Nuclear Generation capabilities within iran . Yeah, i think thats a great example. I think he has what it needs. Iran doesnt need a Nuclear Program. It says this is for energy. Thats a lie. Iran is awash with energy resources, in particular hydrocarbons. Their centrifuges and stockpile of uranium is a pathway to a uranium bomb like the one we dropped on hiroshima. You think he will do it . You think President Trump would launch a preemptive strike . Its not preemptive at this point. This is a response and incidentally, as you point out, it could just be a punitive expedition like against libya. Its not like iraq or afghanistan, or libya. I think at this point, also, thats the way to prevent this from escalating further. We need to free up resources to focus on china and if we do Something Like escorting tankers and pouring more resources in the middle east indefinitely, that will distract us from other more pressing issues. Christian, there was some writing over the weekend about how iran really cannot afford any kind of prolonged military conflict. Is that part of the reason that you are so confident that a targeted strike of some sort could sort of end this tit for tat that we are engaged in now . Yeah, liz, i think iran is at the end of its logistical chain. Its overextended. You have people in iran who are protesting actually the regime support for hamas, for hezbollah, these far away adventures as iranians have a very difficult time within. Its not, i dont think a strike would be done in the name of regime change or making the world safe for democracy but that is an added benefit that is paradoxical. You would think no one would want bombs dropped on their country but it would weaken the regime in the eyes of a people we know dont support this regime. Thats ultimately how you will get security in the region when this islamist regime is replaced by something more secular. Saudi arabia is also one of the great sponsors of state terrorism yet we cozy up to saudi arabia. Theres certainly no talk of military action against them. You are making a fullthroated advocacy for a military strike for which there is precious little domestic constituency for in a democracy. If you want to make that case, the president and his administration should go to congress, should talk about what they are allowed to do under the war powers act, especially because there has been no direct action against the United States. We pulled out of a multilateral agreement that was supposed to limit Irans Nuclear capacity. Im sure you would poohpooh that until the cows come home. You are basically making an argument without any particular democratic advocacy. I dont think he agrees with you. First of all, i think the families of the 1,000 plus dead americans killed by iran and their proxies dont Start Talking about that. We are talking about saudi arabia, too. Marines killed in beirut in 1983 would disagree with you. This regime has seen itself at war. You make an important point. Liberals in this country said we shouldnt support governments that werent fully democratic like the philippines, taiwan, south korea, but those regimes allied with the United States were capable of reform, as is saudi arabia. Theocratic islamist regimes, i cant think of one that reformed as something secular. They need to be put back in a box. Thats why we need a kinetic solution. David good last point. Got to leave it there. Thank you very much for being here. Christian whiton, always a pleasure. One big tech ceo calling out Silicon Valley for creating too much chaos and not taking responsibility for it. Does he have a point . We will play that next. G hey, who are you . Oh, hey jeff, im a car thief. What . im here to steal your car because, well, thats my job. What . What . . What . laughing what . . What . what . [crash] what . haha, it happens. And if youve got cutrate car insurance, paying for this could feel like getting robbed twice. So get allstate. And be better protected from mayhem. Like me. I come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. Every data breach, every privacy violation, every blind eye turned to hate speech, fake news poisoning our national conversati conversation, the false miracles in exchange for a single drop of your blood, too many seem to think that good intentions excuse away harmful outcomes. But if you built a chaos factory, you cant dodge responsibility for the chaos. Taking responsibility means having the courage to think things through. David apple ceo tim cook once again taking a shot at his big tech rivals over privacy issues, saying Companies Need to take responsibility for the chaos that they have caused, but does apple have a leg to stand on here . Well, apple doesnt have a leg to stand on if tim cook thinks its everybody but apple. I dont necessarily hear that in his language. I think he really is trying to acknowledge the unintended consequences of the Tech Revolution of the past 20, 25 years. And if you ask him not on a stage and not maybe on air and not on record, im sure he would admit the degree to which apple is complicit in an ecosystem that has created unbelievable wealth and done unbelievable good, but also created a lot of unintended and current harm that needs to be addressed. I think hes at least more than facebook is and more than these others trying to take responsibility for that. Zach, you used the word unintended. I use the word intended. I remember middle of april 2018, Mark Zuckerberg on capitol hill, we are about 14 months after that, i dont think there was one thing he said that was true on capitol hill. He said oh, privacy, were good, this, were good, that, were good. It seems like every month we are getting something new out of facebook that something they did that nobody knew about, something that was bad that nobody knew about, and enoughs enough. Im in hope they are all learning lessons from all this, because enoughs enough. They become nothing but data mining monsters and stalkers and it needs to end. Gee, i happened to catch you on facebook this afternoon. Whoa, whoa, whoa. Its a little bit tiresome. I mean, chaos . Thanks to apple i didnt say chaos. Look, to put them down, i just see the same sort of demagogery that was held towards nuclear in the 1980s, big pharma in the 1990s, it was the oil companies, the democrats were behind that, in the 2000s. Now its big tech companies. If you dont like it, dont use it. But to lambaste Big Technology for creating devices that have improved our lives most of the time for free, i think its once again cutting down the tall poppies. You think its okay to lie to the public . I dont think Mark Zuckerberg intentionally lied to the public. Im totally with gary on that. I think Mark Zuckerberg lies for a living these days. Oh, come on. Lets go back to davids initial question. I think tim cook is indeed trying to distinguish apple and differentiate apple from the other big tech companies. And basically saying look, we arent in a data mining business, we arent invading everybodies privacy. You can argue that but their Business Model is different, they are selling gizmos most of the time. Its a different business. David i would defer to zach on this but google is getting into the stuff businesses, too. They have a phone now, 400 phone they said does everything the iphone does at a fraction of the cost. Maybe tim cook is beating up on competitors. Apple, to be fair, like amazon data mines its own data for its own customers. They have increasingly become a services business. Tim cook will fail if he tries to say you are all complicit but we are pure as the driven snow. David so selfrighteous. But hes on to something if he is going to say we need to collectively change. I think gary would agree with that. Meaning it is much better if this industry collectively says either we are going to get regulated by people who dont understand our business and come down with a sledge hammer and do great harm, or we will figure out a way to address very real, very pertinent public concern about how we use their data to sell to them. Well said. They have been doing that. They have had major upgrades. One thing big tech has is enemies on both sides of the aisle. Big technology is public enemy number one right now. They have no friends in washington. That regulation is coming and its coming from republicans and democrats. You could offset some of it by saying look, this is the Financial Services industry in part before the crisis, they said before to selfregulate and have buyin than to be regulated by people who dont understand. David i agree with that. I think we all get that. Thank you very much. Huawei admitting they are feeling the burn of the u. S. Ban of their products amid security concerns, as their vp tells Connell Mcshane in an exclusive interview. Huawei has no ties to the government of china. Do we believe them . All Money Managers might seem the same, but some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. Fisher investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. Develop next generation energy. Were using ai to help create more Accessible Health care. Were using iot to create new kinds of digital wallets. Lets see some more headlines about that. Lets expect more from technology. Lets put smart to work. 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No we shouldnt believe him. The founder of the company was a stormer military advisor. The government passed a law saying china can always demand information from its companies if furthers information gathering. If the government wants it, they are committed by law to turn it over to them. What i dont understand, i understand if the government feels huawei is a security threat, they dont want to use the infrastructure. But if private citizens want to use these twices, in a free country shouldnt they be able to use what they want for their own lives . There is a reality any private company in china technically has some relationship to the communist party. That. Those lines are plurred at the top. Whether that means the government can come on and say we are going to put a bug on a piece of data. The nsa or the chinese government. They want to mix and match their equipment. But everybody spies on everybody. Did i tell you i one the u. S. Golf championship yesterday. And i was also the mvp. Everybody knows this is chain app, inc. They are one and the same and there arent they are one and the same. They would do better if they just came clean and started to do the right thing and all would be much better. David the great thing that happened the last couple months is the blindfold has been ripped off all our eyes in terms of what this company has been doing. The question is whether its ripping off of technology. . The way they ripped off our technology, huawei has. But the question is whether its part and parcel of government policy. This gay says no, maybe they do things that mesh with government policy but they are not directed by the government. Does anybody believe that . Xi is running the whole thing. David thank you for watching. That does it for bulls and bears. Reporter reuters reports the u. S. Is preparing to send more troops to the middle east in response to the threat from iran after the pentagon released images showing what happened on the day the u. S. Says the iran yanl attacked two ships in the gulf of oman. Secretary of state mike pompeii or declaring that america does not want war but well take action if necessary. Pompeo double down on the claims that iran is behind the
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