Cross their businesses. Businesses saw increase in materials due to tariffs. Higher labor costs act to pass on with higher prices remained constrained due to brisk competition. Worker shortages continue across the country. In the northeast, manufacturers and i. T. Companies reduced workers. Part of that had to do with a visa worker shortage. Overall the out look remains positive despite the trade uncertainty. Bottom line, charles, this report underscores the fed concerns that trade uncertainty is weighing on manufacturers and business spending. Back to you. Neil jennifer, thank you very, very much. Really appreciate it. Markets are moving a little bit on this. The dow is off six or seven points. President trump ramping up his threat saying he is taking toughest action ever to combat chinas chronic trade abuse. Peter navarro is defending possible new tariffs against china unless they take action and fulfill their promise to buy more american goods. Joining me peter navarro. Before we talk about the president s frustration and and the tariffs tabled for a moment, you guys have some amazing news. This is topic no one knows b the universal postal union, were a part of it, it has been around 1874. Essentially weve been subsidizing chinese mail, chinese products, helping their government and online businesses compete against americans. Really incredible, charles. It is cheaper to send a package from beijing to new york than l. A. To new york. Last year when the president found out about it, he told me fix it. What we did last october we issued a notice of withdrawal from the universal postal union. Basically said in no Uncertain Terms unless our post office can car selfdeclared rates, which allows to us cover full costs of servicing foreign mail, we would exit the universal postal union. What we have now coming up in september is an Extraordinary Congress that was called basically to see if we could come to some kind of an agreement on this well know in september, whether they allow us to basically declare our rates. The Postal Regulatory Commission just this week paved the way for freedom from this bondage, charles. So well find out in september which way we go. Right. This is an example of President Trump doing something for American People, american manufacturers, in trump time. This issue goes back to Ronald Reagan of the at one point Ronald Reagan looked at this, what is this all about . No president has done anything about it. Were doing something about it. Well be in the epu with fair rates or out with fair rates. Well know in october. Charles this gets to the point we are in a whole lot of International Agreements that are antiquated. They made up this decision in 1969 that the country taking in these the mail would bear the cost of it if the other country was a poor country. Chinas circumstances changed dramatically since 1969. By the way underscoring all of this, america, the post office lost 300 million from 2010 to 2014. Those numbers skyrocketing. 2016, 134 billion. 2,017,170,000,000,000. Theyre buying things off chinese website the theyre mailing it here. The government is paying for it. It is crazy. Not just taxpayers and post office, businesses, retailers, online american retailers, they cant compete because theyre subsidizing the chinese rivals. How nuts is that . It is crazy, charles. Were subsidizing china sending us sub sy sized products, fentanyl, everything in between. China the second largest economy in the world by purchasing power parity. It treats us like a piggybank. The president is fixing it. This is getting fix. This is trump time stuff. This is getting done in october. One way or the other, President Trump gets it done. Charles an update on the Opportunity Zones. There is a lot of excitement about the Opportunity Zones, what they could mean for poor urban areas and poor rural areas. Give us an update. Were on a business show, anybody out there with 100 million of captain gains, form a corporation, partnership, llc, invest the money in the Opportunity Zone fund to build a restaurant or hotel or tech Startup Center anything in between. Seven years you get 10 off capital gains. If you hold off 10 years you dont pay any capital gains. Charles anyone taking administration up on this. Tens of billions of dollars are flooding into this. Projects over erie, pennsylvania, miami, ohio, mesa, arizona. This is one of the sneaky best things this president has done creating opportunity in this country for investors and minority communities alike because its a real partnership. So the way these Opportunity Zones work is that, the money comes in, but state and local governments work closely to, in partnership. Charles right. Streamline regulations. Move things through. It is getting done. It is a beautiful thing this is why our economy grows so fast. Were hitting our marks, things of buy america order we did on monday, third in a series, that dramatically increases the amount of americanmade steel and iron. Charles what was that about, peter . I saw pictures, tractors, all these things made in america, but what is the gist here . Whats going on . That was made in america day. We had products from around the country, all 50 state, the president signed what we call buy america iii. The third in a series of buy america orders. Back in 1956 president eisenhower signed an executive order, you shall have 50 iron and steel in all public projects financed by taxpayer. He did it before the biggest project in world history, our highway system. That was great boon for the steel industry. President trump signed an order, almost doubled it. 50 . To 90 . Charles do we have the capacity to do that . Of course we do. We are investing in steel mill capacity across this great country. Ohios is humming. Pennsylvania is humming. Wisconsin is humming. I was in the iron range, duluth, the ion ore from the Northern Range in minnesota comes, from off the great lakes to the steel mills across the midwest, that places humming. This country, steel mills are humming. These are kinds of things that the president does, that we dont talk enough about, to make this economy grow. Thats why the market is reflecting a strong economy, moving forward. Retail sales this week. Charles phenomenal. Phenomenal. That number was off the charts. Charles we have minute 1 2 left, but i want to delve into this a little bit more. The markets, the economy, and trade, that retail sales report was phenomenal. Continues to belie the notion that President Trumps trade war would cripple the american consumer. That being said, you know there was a reset button we think or ceasefire of sort. President trump though expressing some anxiety even frustration. China is not living up to their obligations. Where are we this, these negotiations . Charles, i have got to say this, that beige book report that comes out, the fed needs to look in the mirror. It is complaining about trade tensions slowing things down. The reason why was slowed down because the fed raised Interest Rates 100 basis points, drove the dollar up, suppressed the export. That is the only Thing Holding the trump economy back. The fed needs to do deep reflection when it puts out reports, doesnt mention the big drag on the economy has been higher Interest Rates. Charles i think they get it. Honestly peter i hope so. Charles i will delve into that later on with couple market guests. I want to get from you how frustrated is the president . He is not frustrated at all. Charles when he mentioned it the other day the market went down but didnt go down much. The dow down 50 point at this level. People are kind of shrugging it off, is there sense something is going to happen . Here is my advice. Let Robert Lighthizer work his magic behind closed doors with the chinese. Were in quiet period. Focus on usmca, getting that passed. Focus on fed lowering Interest Rates starting this july. And guess what . If we do that, well cruise past 30,000 on the dow. Well keep this prosperity cycle going. That is where were focused. Were in a quiet period with the chinese. Lets let that happen. Charles you must have heard me before. Honestly im glad you said that. I prefer only lighthizer chime in on this, maybe, maybe mnuchin but no one else i dont think. They move markets. It is all speculation. Those are it is all speculation, charles. Everything you hear that doesnt come from the lips of Robert Lighthizer or donald j. Trump is pure speculation designed to move markets in bad ways, to shape narratives. It is garbage. Charles real quick, usmca you mentioned it, can you handicap the possibility of it getting through this year . Well we would love to see it happen. The only thing that is holding up is the house of representatives. We saw how quickly nancy pelosi can get a vote if she wants to. Well see what happens. It is a great deal for america. It will mean hundreds of thousands of jobs. Charles any drama, speaking of nancy pelosi, her and mnuchin are talking closely. Any debt ceiling drama, should we be braced for that . I dont do drama, charles. I let mnuchin handle that lane. Charles so, maybe . [laughter]. Well leave it there, peter. No drama here, a little comedy perhaps but no drama. Charles peter, appreciate the update. Thanks. Charles President Trump heading to North Carolina for a rally amid the firestorm of criticism over his criticism of those freshmen democrats. The base, well, they remain supportive. People started camping out at 5 00 a. M. Wait until you hear who else shares worrisome views on Central American migration. It will blow you away. Later in the show, most parent find it embarrassing to stay on the payroll past age 27. Most millenials expect to keep tapping the bank of mom and dad well into their 30s. Well break down the generational gap. Hi im joan lunden. Todays Senior Living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. And theres never been an easier way to get great advice. A place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. A place for mom. You know your family we know Senior Living. Together well make the right choice. 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. Hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Charles President Trump will be leaving in two hours headed to a rally in greenville, North Carolina. President trump tweeted about this event. Lots of great things to tell you about including about the economy best its ever been, best employment and stock market numbers ever. I will talk about people that love and hate our country, mostly love. On the floor last night, lawmakers mostly along party lines voted to condemn the president about four progressive congresswoman as racist. Bring in the political panel, rick ungar, founder and president of turning point usa, charlie kirk. Let me ask you about this vote, this whole brouhaha. It is talk of the town. What do you make of it . I mean i cant quite understand how the house of representatives putting time towards this to condemn trumps tweets, where there is nothing to condemn, while there is attempted terror attack in the washington of the last week of member of antifa, members of the democrat caucus refuse to condemn antifa directly confronted with this question. This is a political stunt at best. It became a total circus on the house of representatives. If this is really how the democrat think they are going to win more voters so be it. But its a sad chapter in our country it has come to this, where this politicized over something that is being intentionally taken out of context for their own political advancement. Charles rick, it did look like theater though. I mean, it was fund to watch but event yesterday looked like theater but i will not surprise you i am going to disagree with charlie, pretty heavily here. I dont know why you would want to make light of the nature of tweet. Taking it out of context . You im not the brightest bulb in the box but can understand a tweet. I dont think there was any context all issues there. Whether the house of representatives should have spent time . Ultimately wont matter but i think we cannot blow this off as being some small thing. Charles before i go back to charlie, one second, charlie, i saw an article blew me away in the washington post. More than six in 10 mexicans say migrants are a burden to their country. They take jobs and benefit should belong to mexicans. 55 majority, support deporting mexicans that travel through mexico to reach the united states. That is shocking. Why . Charles it is not shocking that people believe that it is shocking as i read this, if it came from the lips of donald trump right now they would say it was a racist comment. Why . Charles you dont think media said if donald trump said this . Essentially isnt donald trump more or less saying this . No. Charles no . That is really not the way i see it. I think people, once youre here, once youre here legally, allowed to work charles operative legally, right . It is. Charles im saying though the idea at that people think this sort of migration into their country can hurt them economically, it is amazing. They do think that. I have seen the polls. I know youre accurate what youre citing, i have to tell you reality is actually different. You cant confuse two issues. Illegal is illegal. Charles i never confuse it. The mainstream media, say immigration. When i say you, i dont mean you. Charles i do believe if donald trump said, mexicans said in this poll they would say it came from a racist. I want to ask you guys, well have more on the squad coming up in a moment. Charlie, do you want to have a comment on that, please . Yeah. I should think we should talk about the specific text of the tweet. The left is trying to create racism where it doesnt exist in the tweet. The president simply said if you dont love the country. Dont leave the country. I cant explain it to you if you dont know, charlie. Please do. Half the america my friend charles might even back this up. When you use an old racist trope, saying love it or leave it, im sorry, but it is. You can say whoa you want. Youre projecting something that is not there. Im not. It is for real, charles. I will let you weigh in on this. Charles ive heard people say that to people from any country outside of america. Exactly right. Charles if you say it to european, you say it to someone who came here from czechoslovakia, would that be racist . You dont view it as racist trope . Charles no, personally honestly, as a kid, 18yearold, yellow cabs, someone European Company bitching about america in my mind, why the hell dont they leave . You were a doctor in romania. If you dont like it here, go back . I dont understand why that is racist. What i remember in the 70s, being opposed to vietnam war, hearing people say to me, love this country or leave it. To each one of those people, to anybody else i say if you dont charles you didnt think that was ratist though. That wasnt racist. Im a point. I will finish. If you. You just contributed yourself. If you dont think that being an american is all about being able to say what you have a right to say, without having to abandon your country, then you dont understand america. And that was racist. Charles we have blown which this. There is nuances to it. Assuming someone driving cab in new york is american citizen is whole different story. All im saying people who complain about america, should try to either fix it. But im, i personally was always tired of they ran for congress. Charles im not talking about them. You said this was old racial trope. I heard it applied to people from outside this country every race and nationality. That particular saying. Rick, charlie, producers are so angry at me. I think it was worth it. Thank you. Charles later in the show, can you catch which profession, happiest workers in america. Dont peek, not because of their paycheck. Despite their parents embarassment, most millenials expect to receive financial help from their parent well into the 30s. When should the bank of mom and dad cut them off . Dont ask me. Im a bad example. Limu emu doug what do all these people have in common, limu . [ paper rustling ] exactly, nothing. Theyre completely different people, thats why they need customized Car Insurance from liberty mutual. Theyll only pay for what they need [ gargling ] [ coins hitting the desk ] yes, and they could save a ton. Youve done it again, limu. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Doctor bob, what should i take for back pain . Before you take anything, i recommend applying topical relievers first. Salonpas lidocaine patch blocks pain receptors for effective, nonaddictive relief. Salonpas lidocaine. Patch, rollon or cream. Hisamitsu. Prpharmacist recommendedne memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. Or trips to mars. 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. Charles they may be out of their parents basement, but that doesnt mean theyre out of their wallets. A new study finds 1 5 of millenials expected to be financially reliant in their 30s of most mom and dads are not happy about it. Theyre embarrassed that the kids are still on their dime. How do we go further . We have david bahnsen. Thanks for having me. Charles we hear this apply to millenials, college debt, that is the main reason for all of this. Is this a legitimate reason for this, or is there Something Else . It plays in. Not the cause of it. It is a symptom of problem. Fundamentally there is kind of a twoheaded monster. There is cultural crisis. Our society encourages, extended adolescence where people dont have to grow up. That is a problem but that is not the solution. There are economic factors unfortunate for those folks in that age bracket, educated, working hard, wanting to do something. Housing prices are way too high. The student debt problem and financial education. Charles what about having your cake and eating it too . I know people in this boat. They go to big concerts, and they go away with their friend, they go kayaking. They come back home, live with mom and dad. There was a sense in the past you would sacrifice something ultimately move out by age 30, 27 . If Millenial Generation does not practice thrift, where they learned that from off their parents. We have a societal problem, not that edge bracket specific. I think there is greater need for fiscal responsibility, by the way from government all the way down to households. Charles were waiting for the government, it will never happen. Thank god were not. Households have to exercise fiscal responsibility when governments will not. In the case you talk about, there is a need for sacrifice. These are character traits. They will not be solved by policy. They will not be solved by government. It will be solved by bottom more culture. Charles is there a policy that would aid this along . Particularly myself as a conservative republican i get irritated of my folks of all side, permanently escalating housing houses, there is birthright people getting 10 per year in the home prices. You cant have housing prices go up more than wage growth forever. It makes no sense. We need better Housing Affordability policies. All environmental regulations, zoning issues, we need more housing supply to push prices lower. On lower end. Rental prices will go down. That is effectively a raise. Charles Government Intervention goes against conventional conservative orthodoxy . Im saying the opposite, im saying do less intervention. What is boosting prices up less intervention. Theyre restricting building of new houses. You wrote a book, how much is this the crisis of individual responsibility . Almost all of it is, charles, even where it isnt, we need to operate as if it is. You cant change policy overnight but you can look in the mirror, become more fiscally responsible and take assertion of things in your fiscal life. Charles david, thank you very much. Always appreciate it. Why wall street cant wrap their heads around what powell is trying to tell them. Nancy pelosi could be from reports that she is waiting to sit down with aoc. Republican congressman Rick Crawford will weigh in on all of this. He is next. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. Expedia. Everything you need to go. Expedia. Dto experiencer gthe luxury you desire on a full line of utility vehicles. At the lexus golden opportunity sales event. Lease the 2019 rx 350 for 389 a month, for 36 months, and well make your first months payment. Experience amazing. Corey is living with metastatic Breast Cancer, which is Breast Cancer that has spread to other parts of her body. Shes also taking ibrance with an aromatase inhibitor, which is for postmenopausal women or for men with hr her2 metastatic Breast Cancer as the first hormonal based therapy. Ibrance plus letrozole was significantly more effective at delaying disease progression versus letrozole. Patients taking ibrance can develop low white blood cell counts, which may cause serious infections that can lead to death. Before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection, liver or kidney problems, are pregnant, breastfeeding, or plan to become pregnant. Common side effects include low red blood cell and low platelet counts, infections, tiredness, nausea, sore mouth, abnormalities in liver blood tests, diarrhea, hair thinning or loss, vomiting, rash, and loss of appetite. Corey calls it her new normal because a lot has changed, but a lot hasnt. Ask your doctor about ibrance. The 1 prescribed fdaapproved oral Combination Treatment for hr her2 mbc. Charles google may be feeling the pressure after tech billionaire peter thiel said they should be investigated for treason for working with china. Senator mark warner says google has ended some of its partnerships with the communist nation. Joining me to discuss arkansas congressman, Intelligence Committee member, Rick Crawford. Thanks for joining us. Thanks for having me. Charles all of tech is sort of under fire right now, google specifically because they rejected Americas Department of defense, artificial intelligence, that could keep our country safe, sort of seemed to reembrace china. Where do you come down on this . Well i think, you know, we have to look at ourselves here, a little introspection in the united states, getting away from the idea of patriotic and loving your country is not a bad thing but its a good thing. It is a shame we have americanowned entities that want to play ftse with global threat like china. If you are paying attention at all that is not something you would embrace. I would hope American Companies would be prone to support america first. Charles google initially ejected doing business in china. To your point, they understood the human rights aspects of it. They understand the idea that every company that has worked in china complained about espionage, proper property theft. I know its a huge market. I know they want a huge piece of the action that doesnt explain why they rejected working with the department of defense on something that could save lives, american lives . If you will make a moral equivalency argument, well we dont want to get involved with the defense base on united states, turn around work with a company, whether or not that is wholehi owned subsidiary, that is taking a position with china and their military. Understanding their military is their government. Their government is their military. Essentially theyre one in the same. Making that argument to me is a little bit duplicitous. Charles great word for it, congressman. Stand by for a moment because Speaker Nancy Pelosi is reportedly planning to meet with freshman congresswoman alexandria ocasiocortez, this amid reports of tension within the Democratic Party. Kristina partsinevelos has more. Reporter alexandria ocasiocortez herself who reached out to pelosis office. You have reports right now that pelosis office did receive the request but they havent actually set up a meeting. We talked about some really big public fractures between the party, more specifically after the four congresswoman, often known as the squad including aoc, voted against the emergency aid package. Aoc rebuked pelosi for singling out the squad but today there was a press conference with nancy pelosi. She made absolutely no mention of aoc and there was a source for the wall street journal saying that they havent spoken in months. So despite some of these public fractures within the Democratic Party, you had alexandria ocasiocortez earlier this morning tell cbs news, that theyre still united. Listen in. Just as there are members who challenge her conclusions, who disagree with her, so do we from time to time but that does not mean that there is a fundamental fracture or a dehumanizing going on within our caucus. Reporter aocs comments youre hearing came less than a day after the house voted to condemn the president s tweets as racist. Meanwhile today nancy pelosi did address that but she went after the president s words and not the person himself, highlighting a difference of words between aoc, the squad and nancy pelosi. Back to you. Charles kristina, thank you very much. I want to go back to congressman crawford now. What do you make of this internal fight with the Democratic Party . It is pretty clear that alexandria ocasiocortez alluded to maybe some racial, or racist intent when nancy pelosi took on the socalled squad. Well i find it hard to believe that she has got all the time in the world to engage the media. She is on tv every day. And yet she doesnt have time to go and make an appointment to see the speaker and work out the differences. I havent spokenned to the speaker in months. That dog wont hunt. When we were in the majority, if i had a problem with the speaker, went to talk to the speaker as member of congressman. Didnt matter if i was freshman or fifth member of congress. Were all members of congress. Go talk to them. The speaker wont talk to me. Im being marginalized of in a sense what that does enhance her branded a an outsider, disruptive force. She has time to engage the media, no time to engage her own leadership. Charles what do you make for lack of a better word the spectacle last night . Now continued efforts by democrats to go for impeachment despite still pretty clear nancy pelosi does not want to touch that . With regard to last nights display, that was dogandpony show. If you dont like the president , thats fine, go out and say something. There is a rule on the floor that expressly forbids that type of behavior. They knew it in. Otherwise she wouldnt have said the remarks were cleared. That was a great big spectacle all for nothing. If you have a problem with the president , thats fine. That is not why were here. Were here to do the peoples business. We have done very little of it in this congress. Charles youre absolutely right. Before i let you go, i wanted to ask you real quick, were talking about google, facebook, all these others. They spent 48 million on lobbying in 2017. Call me cynical, if you will, but many folks out there including myself think they may find a way to buy themselves about the toughest measures congress may be thinking about. You make a good point. That is an astronomical sum. Two things, these people are getting paid awful lot of money to hang out and lobby members about con gross. Number two, what is the end result there . Do they expect to buy off members of congress to tee up their initiatives . I hope not. Charles i hope not either. Congressman, pleasure talking to. You thank you. Charles despite the market hitting new highs. There is persistent talk about recession running rampant. Jerome powell makes it clear it will not happen under his watch. What wall street keeps missing. Netflix leading a slew of earnings out after the bell. Well break down the possible reaction in that stock next. Complaining about trade tensions slowing things down. The reason why it slowed down the fed raised Interest Rates 100 basis points, drove the dollar up, suppressed exports. The only Thing Holding the trump economy back. The fed needs to do deep reflection when it puts out these kind of reports. Charles one of President Trumps advisors blasting the fed ahead after next meeting. Courtney dominguez, a group im not affiliated with, gary kaltbaum, kaltbaum capital management. Back back with us, jennifer schoenberger. I thought i was hearing gary k. For a moment there. Well, look, i look root canal a little more than i like the fed but im a big believer the fed stayed too easy for too long, eight years 0 rates for eight year hurt and screwed savers. I have no problem with powell easing a little bit now, why . Because the markets is cooperating. When you have the 10 years at 2 , fed at 2. 25, lower it down to 1. 75 to be fine. To think the economy is suffering because they raised rates in the 2 range is ridiculous. That is where i completely disagree with navarro on that. Charles jay powell spoke in paris. The fed will continue to keep the economic expansion going. He said something pretty interesting, in a sense Monetary Policy in one country can influence economic and financial conditions throughout the world, throughout financial markets. Jennifer, did you see anything else that was similar to that in the beige book . I mean, no, the beige book was more focused today, charles on impact of tariffs, inflation, whether companies are able to pass on these tariffs in form of higher prices were which were not seeing that much. Were not seeing consumer affected that much it is important to note the fed is coming around. Consumer in strong shape, retail sales in june, that have gone up consecutively for four months but powell is very well aware of risks to the out look. He continues to point out trade uncertainty. They want to put off recession. They dont want to see a recession. They want the insurance cut. How much is 25 basis point rate cut to help cushion the economy . Charles to that point you have to do 25 before you do the next 25, before you do the next 25. Let me bring in courtney for a minute. I have a different theory on jay powell. I think jay powell, i agree with jennifer in the sense he is determined never to have a recession. Yeah. Charles i dont think he wants flashing lights of a recession. He is proud of this recovery. He thinks the fed really engineered this recovery from the great recession. He is ready to be preemptive. That is one way looking at it. Im not surprised were having conversation of Interest Rates getting lower, how the economy continues to do. Charles that is old fed thinking. Wall street keeps thinking about the old fed. Im saying powell fed made it clear. They will be preemptive, we make sure we will never get to close to recession. Last rate cut cycles, began 50 basis points, 50 basis points. We began one with 150 basis points. What does that mean. The fed is always behind the curve. That is he is deathly afraid of that. If you look in the past, since 1971, every time the fed cut Interest Rates in expanding economy, 100 of the time the markets improved, three, six, nine, 12 months. On average the s p 500 has done very, very well that keep on track. S p 500, 3500 by next april. Charles 3500 in one year period . Nine month period actually. Charles wow. Go ahead, gary. I have to add something here. I just think powell and fed overrate themselves here. To think that they are bigger than the economy and not the 200 million or so people that go to work every day, to do better for themselves than their family, all the great smarts and ingenuity of our businesses large, small, medium, move Interest Rates a quarter, half a point that will save an economy, im sorry. I think people and economy is much bigger than that but hey, let him think what he wants, do what he wants. Charles jennifer . Two points, one they have to cut at the end of this month because the bond market already priced it in. Oh, yeah. Since bond yields have come down, that trickles through to Interest Rates across the economy, whether credit cards or mortgage rates. If they werent to do that, yields would pop back up, which would bite the consumer and hurt the economy. They have got to do that. To your point getting in front of the curve, they are very worried about inflation. Inflation expectations are slightly coming down based on university of Michigan Consumer sentiment report. They dont want to get caught in a cycle like japan where expectations are coming down, you get into a deflationary spiral. They want to stay ahead of that. Charles jay powell said on the record, it is very hard to arrest when it starts to happen. We couldnt get to netflix. I will let the audience know, the last four times they reported they beat but only once was the stock up of the last time it was up 6 . After that it was down 7 , down 4 , down 10 . Well have full coverage of netflix and other earnings after the bell, folks. Hold on to your seats. Courtney, gary, jennifer, fantastic conversation. Thank you all. Appreciate it. Thanks for having us. Charles before we go to break, check out this new study. Being a firefighter is the most satisfying job to have, this according to my plan. Com glass door survey. The job with the least satisfaction . Clerk, sorters, tv reporters. I couldnt help it. Cpb acting director mark morgan that Congress Finally do something about the border crisis. New survey find six in 10 mexicans are saying migrants are a burden on their country. Can anything be done . Congress needs to act on a bipartisan way to pass meaningful legislation to address the very real loopholes in our asylum that is causing this crisis. 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. Were the tenneys and were usaa members for life. Call usaa to start saving on insurance today. You know what im talking about when your little grandchild and were usaa members for life. Starts talking to you. 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[laughter] avo call our toll free number to start 30 day riskfree trial and book your free hearing evaluation at your locally owned miracleear today. Your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. Charles the aclu and other leftists groups are suing the trump administration. What else is new. This time its over efforts to end asylum seeking at the u. S. mexico border. The new rules blocking migrants from seeking asylum if they pass through another country first. Also, the survey shows more than 60 of mexicans say migrants are a burden on their country, too. Anna, lets start with the lawsuit, if you will. What do you make of it . If you are fleeing Economic Conditions and you happen to go to mexico, mexico is doing pretty good. Its a pretty good economy. Its a pretty safe place vis a vis these other nations in central america. Why wouldnt you stay there . I say aside from whats going on with mexico and the usmca, what the aclu is doing is straight up propaganda. They came out and said, this is a couple years ago in a report they put out, that Human Trafficking among Hispanic Women was at an alltime high. Right now, because of the immigration loophole system, we are seeing that the administration is really moving forward to push so that we can shut that down so this exploitation, these crimes against humanity can no longer take place. When the aclu came out to do that, in my opinion, its damaging. Its damaging to the very people they are pretty much trying to protect, mainly because you have this Human Trafficking aspect no one is really talking about anymore. Attempts to bait the entire nation into making it a racial topic when in actuality, enforcing your sovereignty of a nation within its borders, whether its mexico or the united states, is well within the rights of the country and its people. Charles do you think thats why according to a report in reuters, there was a survey done in the Republican Party since this brouhaha started, and apparently President Trumps Approval Rating amongst members in the party rose by five percentage points, that republicans are seeing this in a different way than is being messaged by the democrats and the media . Absolutely. I think whats happening now is you are seeing the American People as well as members of our government realizing that these four select women that are supposed to be standing up and representing not only the women of our nation, but americans, dont have the vested interests of the American People, that they in actuality are very hateful, the rhetoric they are putting out is not only damaging our people, our relationships with one another, but its really negatively impacting these very real issues they are choosing to ignore. There is rape of women and children happening every single day at our u. S. mexico border and it is because they are failing to work with this administration and the speaker of the house to fix this issue. Charles the mexican poll, 6 of 10 mexicans say migrants coming into the country are a burden on them, they take jobs and benefits. It seems like a logical conclusion but if President Trump said that i think the headlines would be another racist comment from President Trump. Why cant we just have an honest discussion about this, in your mind, with this topic in this country . Because they hate this president so much, they hate this administration, that they want to push their socialist marxist agenda that hes the one thing standing in the way between that and its unfortunate, because it is not racist to enforce your nations sovereignty. The people of mexico have the exact same ideologies we have here and everything thats correlated with it, the drug running, the trafficking, the organized crime, thats all something that mexico is feeling very strongly because people are using mexico as a funnel into the united states. You have people from 60 countries around the world that are going right through mexico to come here because you have leftist politicians that are making this a political talking point so that they can get reelected and in actuality its only hurting the innocent people of this country and other countries as well. Charles thats why we should fix it as soon as we can. Anna, thank you very much. Really appreciate it. Thank you. Charles folks, the markets really been sideways. Sort of anxiety, although that has been changing in the 3 00 hour. Liz claman, the markets really have moved a lot more so than normal in your hour and of course, ahead of netflix earnings today. Liz that is a huge story. It could very well be a driver. We encourage people even if they dont own netflix stock, stay with us right, because so many can move, its almost a domino effect. We are going to begin with this breaking news. Time is running out on congress to lock counsdown a debt ceilin deal. House Speaker Nancy Pelosi just confirmed about an hour ago that a budget deal must be in place by this friday in order to beat the clock for the actual vote to raise the debt ceiling. Its got to be by next thursday, because by end of business day thursday, congress skips out of town for the august recess. Debt ceiling fights can move markets. We are going to take you straight to capitol hill to see exactly where we stand