Transcripts For FBC Cavuto Coast To Coast 20240714

From the Administration Last week. You period potus, President Trump, they could wait until after 2020, to possibly sign a deal with the u. S. Larry kudlow says dont expect any grand bargain this week. The first facetoface with the g20. Robert lighthizer along with steve much, treasury secretary. They are in shanghai and talking to their opponents on the chinese side. What is expected theyre looking to get tax back to where they were at the end of may, before all of this broke down. And four areas of discussion including huawei. Right now we have a general reprieve for huawei. 90 days at least for all u. S. Companies that supply to huawei. I guess well get more details on that, trying to buying up more u. S. Agriculture, namely in soybeans. Intellectual property protection, a lot of u. S. Companies are calling for. Ending china state subsidies. That will be dependent in terms of how far china is willing to go. How far the u. S. Is willing to go. We do have u. S. Trade goods from china. The trade relationship down 3 First Six Months of this year because of the increased tariffs. We do know there are 25 so far according to our brain room on 250 billion worth of chinese goods. Of course the president threatened to tariff another 10 on the rest of the trading relationship. Aroundhundred billion dollars or so that he doesnt have tariffs on. Now the u. S. China trade relationship is worth 650 billion each and every year. There is a big deficit on the u. S. Side. Around 400 billion last year. So far in 2019, that is at around 130 billion or so. But, neil, dont hold your breath for any sort of breakthrough. There are of course if there was a breakthrough, more facetoface between the u. S. President trump and chinese president xi xinping. I think right now they are trying to temper down the expectations and steady as she goes status quo until past 2020. Back to you. Neil better than no talks. Susan that is true. Neil well have the fed decision as it meets tuesday and wednesday. We know wednesday afternoon where we stand. Deirdre bolton at the New York Stock Exchange where we might expect . A lot to follow, neil, this week. Hi. Investors price a quarter of a point cut on wednesday. So 76 chance that would happen with fed funds futures this is the First Time Since 2018, we see a cut, so more than a decade. Oddly enough former fed chair, janet yellen weighing in supporting this 25 basis point cut. She talks about a weaker Global Economy and low inflation. I will quote her here. The u. S. Is not an island. Were part of the Global Economy. What happens in the rest of the world, europe, asia, affects the u. S. On top of that fed rate decision, were in the busiest week of secondquarter earnings season. Seven dow members a third of the s p 500 are reporting. Apple, the biggest ones tomorrow. All eyes on that company. Ge, Fiat Chrysler on wednesday. Gm, cigna, verizon thursday. Oil giants, exxon and chevron on friday. Earnings are tracking better than expected 6. 4 . That is far exceeding the 4. 6 decline analysts expected. Wrapping it all up on friday, that all important jobs numbers for union. Back to you. Neil talk about a busy week. Thank you, deirdre, very, very much. Trade talks are stalled. That could be good news for markets anticipating more rate cuts, the longer they are stalled. Sort of consensus building on the corner of wall and broad, more importantly in chicago where they make these bets, that well see at least three cuts this year. To market watcher jack mcintyre. Do you stand by that consensus bet . It is always risky, but what do you think . So im not sure well see three rate hikes, or rate cuts, excuse me from the fed this year. I mean obviously well see one this week. I think it is going to be followed by september at some point the fed has to shift back to being data dependent and theyre not there yet because all these rate cuts up to this point will be more just preemptive, hey the Global Economy is slowing down. If the u. S. Economy gets more traction, i dont think well see the thirdrate cut. Neil it is a weird world. Jack, if you think about it, we are hoping for, you know, boomerang on the trade front, trade deal would give the economy a lift, you wouldnt have to worry about rate cuts . I would rather see a deal done between the u. S. And china than rate cuts. Until we get growth, you have to have rate cuts. Until china has a huge footprint on Global Economy. U. S. Would benefit from that. I would take a trade deal any day over a rate cut. Neil there is a play on the old analogy, recoveries dont die on their own. Theyre murdered. What would murder this one, do you think . So i think inflation coming back would murder this recovery. I dont expect that to be the case historically. The fed worries about inflation and they cut, excuse me, they tighten policy too much. They end business cycles. I dont see that. I think inflation remains tame. It means that the fed can do what they are going to do, pull back on rates, and extend the recovery. So, right, this recovery doesnt have to die of old age. Neil what i worry about as well, i guess im in a worrying mood, we changed the environment that necessitates a rate cut. By my reckoning, who am i, things are looking pretty good and certainly i would say what few arrows we have in our quiver with what few hikes weve seen what brought up the old lending rate of overnight fund, we dont have a lot of arrows there . You are right. We, hey, we have some monetary ammunition. The fed tightening to the degree they have. They have built out some. Neil right. Youre right, what is effectiveness of Monetary Policy . We had a decade of very low estimate la live policy we havent seen monetary growth. Fiscal stimulus, regulatory reform, and Monetary Policy. We need a Global Economy that is doing better. You know the u. S. Is not this economic island. Were not immune to a slowdown globally. This has to be a broadbased approach not just from the fed but the Global Central Bank community. We are actually seeing that. Were seeing more and more Central Banks cut rates. That ultimately is a net positive for the Global Economy. Neil chuck mcintyre, thank you very much. My pleasure. Neil meanwhile, china is con delling all of these constant outburst and hong kong protests. They sort of held their own on this and not really gotten into these protesters face. After seven straight weekends of this stuff. Chinese signaling they might take more drastic action. Kitly logan is, what are you hearing . Reporter that something the protesters are wary of. Weve seen chinese officials backing the government, backing the leadership in hong kong as well as the police there. The chinese officials are blaming unspecified western countries for the unrest. They accuse countries interfering causing problems in hong kong and they say the Current Situation sudden not be tolerated of the comments follow another weekend of clashes between police and protesters. Police were seen firing tear gas and rubber bullets to force back crowds, blocking streets with street signs and umbrellas. The protests started in early union. They have been happening once a week, show no sign of slowing down. Initially the protesters were calling for the extradition bill to be withdrawn. The government of hong kong withdrawn it and they want greater democracy overall. The protesters want freedoms they have in hong kong, greater than main land china to stay. They are fearful the Chinese Government could at some point crack down even harder than they are doing now. Back to you. Neil everyone says the environment is lot different now than it was 30 years ago when the chinese orchestrated Tianamen Square crackdown. China has much more on the line as a Global Economic powerhouse. They wont even risk a crackdown on hong kong protesters but i have always come to believe that at their core, superpowers are, are going to want to remain a superpower. And in chinas kind of warped view of things, sometimes, that can mean a military roll here. What are you hearing . China has an agreement when they took over from the uk. This used to be a british colony until 1997. Neil right. This is one wintry, two systems. The hong kong system is greater freedom, greater sense of democracy. A lot of chinese laws dont apply. This is what people in hong kong are afraid of, this could change. The china could decide to impose its own lifestyle, its own system on hong kong. People dont really want that. Having said that, there is a Younger Generation growing up in hong kong never experienced under british rule. Neil kitly logan reporting on all of this. You heard what is at stake with the employment report at the end. Week. Twoday fed meeting wraps up on wednesday with the assumption were going to see a cut in rates. In between we have a lot of aggressive socalled racial taunts back and forth admits the president and number of democratic luminaries. His latest missive is against al sharpton, who he calls a con man and troublemaker. It gets worse. Is the president getting in the way of otherwise what is positive economic developments . After this. Great riches will find you when Liberty Mutual customizes your Car Insurance, so you only pay for what you need. Wow. Thanks, zoltar. How can i ever repay you . Maybe you could free zoltar . Thanks, lady. Taxi only pay for what you need. Liberty. Liberty. Liberty. Liberty. Neil all right. You think about it, things are going the president s way. This isnt a rightleft issue, but if you look at voter ratings on the economy most folks like what they see going on. Supreme court rule the border funding using military funds as the president wished to continue to build the wall. No bombshells in the mueller hearing. Where is that going . Then you have these tweets ever since, back and forth, some deemed racist, what have you, is it getting the eye off the proverbial good economic ball here . Blake burman at the white house with more on these developments. Hey, blake. Reporter it was a twofold attack from President Trump today as he continuing to talk about the city of baltimore and congressman elijah cummings, democratic chairman of House Oversight committee. In a tweet talking about cummings and baltimore, the president said, quote, 25 years of all talk, no action. So tired of listening to the same old bull. Now the president also pushed back on the critics who called him racist for calling baltimore, a quote, rat and rodentinfested mess by citing these comments from Bernie Sanders back in 2015. Watch. America is the wealthiest country in the history of the world but anyone who took the walk that we took, we took around this neighborhood would not think youre in a wealthy nation. You would think you were in a third world country. Reporter that is part of the defense for President Trump today. He is also focusing as well on the reverend al sharpton who finds himself in baltimore. The president called sharpton a troublemaker and a con man. This was part of sharptons response. With central park, dealt with him on the birther issue. I can say what he wants. Call me a troublemaker. Yes i make trouble for bigots. Reporter neil, there happens to be some news here at the white house, throughout washington today, over the president just earlier this morning in the rose garden, signed a 9 11 firstresponders bill into law. Tomorrow the treasury secretary steve mnuchin, u. S. Trade representative Robert Lighthizer find themselves for the first two days of talks into shanghai. Try to move that in a positive direction. Of course wednesday we get the news out of the Federal Reserve what theyre doing with rates. The president continued to attack the fed on twitter as well this morning. None of that gets pickup or play. If anything is below the fold because of these criticisms of congressman cummings and baltimore of, the fallout with all of it. Neil . Neil thank you very much, blake burman. All of that. When it comes to al sharpton, people have their own prism, we live in our own world. We all remember tawanna brawly, remember the comments the africanamerican woman made proven to be false, four white men raped her. He is calling the president on igniting racial tensions. I think we each live in our little worlds here but i think youre obligated to report on those worlds and not side with one over the other. Just step back, calm down, look at the charges that have gone back and forth. I mean, im not talking from the right or left. Im talking as a fair and balance human being on this stuff. A lot of people are playing a lot of games. Fox news contributor liz peek is with us. She will be on bulls bears at 5 00 p. M. Eastern time. We love having her around, she calmly makes sense of all this stuff. I find it interesting, liz, the racism charges comes up again and i do think the president has to set a higher bar, go back to your country, those are lightning words, but im just finding the approach to all of this, it is all onesided. And i dont think that is very fair and balanced. I think it is interesting, racist to me is ignoring the troubles in a city like baltimore. There really are problems in baltimore. Neil said no less than Bernie Sanders. No less than barack obama. Former mayor, one of three in the last several administrations who had to step down because of scandals and corruption. For example, 17 high schools in baltimore, in innercity, not one black kid was proficient in math. That to me is the most damning thing you can possibly say about the mismanagement of this city, by the way the hypocrisy of democrats who including naacp opposed Charter Schools which we know in new york city is one of the few routes out for innercity kids. That is the kind of hypocrisy that makes me crazy. Is President Trump immune to the idea, that he is stepping on his own good news . I dont think he is is at all. When he stood up in 2016 and said to black voters, what have you got to lose, that resonated. He got more black votes than mitt romney. Shockingly considering all we hear about what a racist he is, his polling with hispanics is going up pretty sharply. I dont think people get it. Blacks hispanics, whites, everybody cares about wages, about salaries, which by the way were up 5. 4 in the second quarter. Have you ever heard that mentioned . No. Neil for minorities. Im talking about overall. 5. 4 . This has not been cited. Neil i understand, you hate donald trump, you hate him, if you love him, you love him. If you hate his critics you hate them, time to report both. My two hours here, another hour, i report both. People will see things in the perceived bias through their own lens. I get that, i understand that but on the economy you cannot deny, whether you want to give the president credit for that, that is fair game, god knows we would blame him if it were the opposite, i wonder whether that is doing justice. I think it gets lost in the heated argument. Here i put a little little bit e on the president , fanning flames on that role, denies him, i understand he doesnt feel he gets a fair shake of the economy coverage and certain amount is right he steps on his good message. I totally agree with that. You know his advisors are sitting there, please talk about the economy. Only thing i would say about that, americans now, with almost foul employment, the whole jobs story isnt quite as compelling as it was three or four years ago a lot of people were looking for work. Not only people are finding jobs, theyre moving to better jobs. The quits rate tells you that. All of that is very positive. I think people need to think it will continue. They need to think that maybe were going to have infrastructure come along, Infrastructure Spending that will help it. There are other things to come. I think he has to also talk about those things, importantly, health care. But, i hear you. I think he, you know, everybody wants him to talk about the economy. The democrats were successful in 2018, partly because of republicans did not talk about the economy. Amazing. It wasnt just donald trump. It was across the board. Neil inroads because of the economy with minorities . I do. Neil that seems pronounced in some of these polls. A little less so with africanamericans. Does this hurt him there with that group of voters. I dont think the economy can hurt you with any group of voters. Everybody wants higher wages and opportunity and those thing are more plentiful today than they were and by the way to your point about reporting on the economy, the imf recently did a review of Global Growth and downgraded Global Growth slightly because of china and europe. They upgraded the u. S. From 2. 2 to 2. 6 i think this year. That was never reported. I looked at every single major news organization. Nobody reported that. 2. 2 to 2. 6 is pretty big revision upward, right . It was last week. Nobody mentioned it. I find that offensive. It is not fair and balanced reporting. I think that is what we all want. Neil see a coverage where a lot of headlines are belittling. President brings on a lot of this, but so does the other side but that side doesnt nearly get the amount of attention. It kind of sticks in my craw there is no attempt to just step back hear both sides. When it is one side is loses its audience. I think it loses its potency, things like calling the president a race ive. That is every day language now. Everybody is a racist. Neil nazi. I always say for nazises save it for nazi. That is a good point. Neil everyone, if youre ripping one side, go back, step back, look at this, look at sharpton comments, put that in context the people who are preaching, theyre not being fair, theyre not being balanced. More after this. Vestments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. Neil boeing just cant get out of its own way with all the 737 max troubles, if they ever fly again. All other airlines are waiting, waiting whether they will fly them again. Fox businesss newest reporter, grady tribble. How great of a name is that by the way . Good to have you my friend, welcome aboard. Boeing is not getting better, is it . No the company taking a big hit in quarter two profits, big losses. Were getting a clear picture how the other airlines are being affected that operate these planes. We have a full screen. That shows you some airlines affected. Southwest the biggest one, of course it will stop flying out of newark, new jersey in the fall, with cancellations in january. Smaller low Cost Airlines outside of the u. S. , theyre seeing the biggest losses. In europe Budget Airline ryanair cut its passenger growing forecast more than half. Fly dubai, the largest max customer in the middle east had orders for 251 max planes. That airline has had to cancel 17 of its scheduled flights after the grounding. Oman air has canceled more than 800 flights through august. Over in southeast asia, singapore airlines, runs budget carrier, silk air. That airline is passengers to drop 3 over the next year. Were not sure how much the grounding will affect profits for the airlines. Ryanair says it will certainly take a hit. Boeing is trying to do the part in some small way. A lot of money, five billion dollars going from boeing to the airlines. Well wait to see if that is enough. Neil you wonder, grady, who women be the first brave airline to put these back up in the air. No one wants to be the first one. Exactly. Its a waiting game at this point. Neil youve been with us less than a week . Today, marks one week exactly, you were reporting out of florida . Im from tampa, florida, clearwater to be specific. So i was at a local station there. There is me, action shots there. That is after hurricane irma. I grew up with hurricanes. So nothing new there. Neil youre in the blood. Exactly. Neil what got your interest in just business and Everything Else . Well, the business side of reporting is new to me obviously coming from local news. That is something that of affects everybody. With the good economy, they are paying attention to it. I grew up during the recess. So you know, you learn a lot from neil last recession. Yes, yes. Neil i grew up during the depression. That was, youre young. But, it is interesting, you had a week now. You had a chance to sort of be introduced to some of the players here. Who are you the most suspicious of . Who do you think is the so far, you. Neil thank you. I think the guy you should avoid is gasparino. I saw his stuff on the tmobile sprint merger. You know, i dont know if i can trust him. Neil he makes it all up. Now he has this pushup contest that he likes to do with new recruits. Are you good at that . I can do a few. I played soccer in college. We had to work out. It has been a few years. Neil what about varney, keep your distance from him . Havent met him yet. That is maybe a good thing. Neil weirdest thing. He has no reflection. A vampire. Neil very good to have you. I heard great things about you. You have a cool name. It is real. I didnt have to change it for tv. My parents had good foresight. Neil i changed mine for tv to cavuto to see what people would do. Grady, good to have you. Jeff flock in chicago, phil flynn. A lot of great people to learn from. Suspicious, cautious. Neil nishi ages rights, grade did i. Thank you very much. France, they want to start taxing our tech companies. The president responded. He wants to start taxing french wine. The president famously doesnt drink. He already knows that american wines look better than french wines. How would know that . After this. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for Auto Insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Can the past help you write the future . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company a cockroach can survive submergede guy. Underwater for 30 minutes. Wow. Yeah, wow. Not getting in today. Not on my watch. Pests never stop trying to get in. We never stop working to keep them out. Terminix. Defenders of home. Neil secretary of state mike pompeo has been addressing what is going on in iran and korea. He has a whirlwind trip through asia. Hillary vaughn from capitol hill with the latest on how that trip es going. Reporter neil, secretary of state mike pompeo at the d. C. Economic club this morning says there is no plans for a third summit in north korea. He says a key player in all of this is china. They have been more helpful enforcing u. N. Resolutions than they have in the past. He also said that it is up to kim jongun to decide if he is ready to back up his claims he is ready to denuke. He is now repeated he is prepared to dedenuclearization. It is time to execute. I head to asia tomorrow. Midday i will be in bangkok a couple days. We hope we have working level discussions so we can unlock the rubics cube. He is a real challenge he has presented with the leader of north korea. We hope he sees his way clear. Reporter pompeo doesnt have a timeline for a new iran nuclear agreement. Saying a timeline is a fools errand in his line of work and he also says their strategy to bleed iran dry of their resources has been working. Our chosen strategy was to take 180degree turn from what the Previous Administration has done. Were trying to reduce their resources to conduct terror campaigns around the world, build out missile systems, the nuclear program. We have been incredibly effective. I remember, david, im sure no one in this room, many in washington said american sanctions alone wont work. Well they have worked. We have taken over 95 of the crude oil being shipped by iriran around the world. We have taken it off the market. Reporter theyre working for amiri time security plan in the strait of hormuz. Theyre working with the british and any other country which has vested interest in the waterway to keep it open and free and clear. Neil. Neil Hillary Vaughn on capitol hill. I thought he was enroute. He will be in enroute tomorrow to china. France not backing down on the tech saks. The president responded they start taxing our technology, well tax their wine. Stanford School Lecturer dave dotson. Where is this going . I think its a ploy to get the napa valley vote to tax french wine . Neil it could. As tax policy goes this is pretty fascinating stuff. Ill tell you why. France trying to form a union between the European Union and oecd countries decide to fire the first cannon shot in what is a 7. 6 trillion shell fame between multinational organizations and sovereign nations trying to collect tax revenue. The reason for this is really interesting. The tax code that governs about our International Tax treaties was written 80 years ago. Over the last Decades Congress has changed intellectual property, patents and so forth and selling information over the internet. This tax code writen 80 years ago does not know how to deal with that. That is why we have the multinational corporations, plenty are located in the night paying ridiculously low tax rates. What i find interesting, neil, is the side that the u. S. Is taking right now. Remember, it was year ago, 2 1 2 years ago the u. S. Was pounding their fist on the table because apple diverted 128 billion of profits, from the u. S. , our country to ireland. Neil right. Right. What is interesting at that time the whole concept or genesis behind Corporate Tax cuts was to make ourselves more competitive to they didnt have to do the irish thing or go seek out lower tax shelters eye broad. Now, what i am wondering, what are the french up to here . Obviously theyre looking for revenue. It is not enough that the items these Companies Sell in france are taxed if the local currency or the euro in this case but they want more. I where is this going . Some says this goes beyond just a single tech concern t could widen out, all of a sudden youre upping the ante not with tariffs but with taxes . Yeah. No, it is going to widen out because this is a big issue. Like i said it is close to 8 trillion of taxes not being collected by sovereign nations. So what france tried to do, is they tried to get the European Union together and say, lets have what they thought would be a 3 tax rate on revenue. There is curious reason why they picked revenue, but they said on revenue but you have to have all the countries, all 38 countries agree to it, no surprise, ireland, for example, said no. They have a good thing going, they dont want to end that. Much france said fine, well get the party started. They are issuing this tax rate. Italy, spain, britain, they will all probably be on board with this, because everybody is losing a massive amount of tax revenue. Well see something play out i think will be the beginning after rewriting of a 80yearold global tax code. Neil while i have you, professor, well address it in the next segment, curious your take on britain by hook or crook, one way or the other to leave the European Union by halloween with a deal, without a deal, who does it hurt more . The consensus is the brits are putting themselves on the short end of the stick. Others are arguing that europeans are concerned, because if britain lives another day, the sun comes up, all those fears might have been overplayed and it is the European Union has to worry . First of all i think it is curious that they picked halloween to make the makeorbreak day. He boxed himself in a corner. He probably will have to stick with that date. Neil Boris Johnson youre talking about . Pardon me . Neil Boris Johnson youre talking about, correct . Yes. Neil go ahead. What is interesting most of the commerce between britain and the eu, outside of the eu already sort of taken into consideration what happens when britain leaves. So the exact terms how britain leaves will not have a big impact on the Global Economy. It is interesting that you brought up both of these topics because the whole issue how corporations are moving the old tax code was about how to build things and sell things and as we move to the new technology, new Information Technology you have this shell game going. With britain stepping away from the eu, saying well go it alone they have an interesting opportunity, they could either seize that, take advantage of that, at the expense of the European Union or it could go the other way around. That will be the real thing to watch going forward. Neil very interesting. We know soon enough. Professor, good seeing you again. My pleasure. Neil to the professors point the british pound is getting sort of banged around, in and out of the hoest levels in two years. Decidedly brexit. The fear that the brits are going to get the shorter end of the stick on that. Too early to say. Well have more on it after this but allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . People dont want government or anyone to take away their choices and so our medicare for all plan, my medicare for all plan will allow private insurers to be a part of our plan, if they play by the rules. Lets be clear about the rules. The rules are they will not get to do business as usual. They will not get to do what they have been doing, which is gouging and higher premiums and under our plan there will be no more copays or more deductibles. Neil does that mean there will be no more private insurance. Kamala harris is not exactly saying that. But she is confusing a lot of folks with this plan a lot of americans are trying to get to the bottom of here. Keep in mind, 90 of us do have private insurance. Were not all tickled pink with it but we have it. For the sake of the 10 who dont have such coverage, are we ruining it for the 90 who do . If it sounds like a familiar argument, just that during the obama administration. We came up with obamacare. For the daily caller editorial director vince collagnese is on this. Seems like history is being repeated, what do you think . Including everything you like you will get and no cost for this. Medicare for all projections somewhere between 35 trillion and 40 trillion of expenses over 10 years and in this case this is the big dream of the democratic party. If they can put a gigantic option into play, we will get sently to singlepayer. There will be no issue with Insurance Companies because they will be out of the game. Neil were told this would take a number of years to reach fruition before private guys are essentially phased out, maybe up to a decade. I dont know how that works, but what are you hearing on that front . As far as kamala hairs plan its a 10year phasein program. We already know. Look at obamacare. How many Insurance Companies fled the markets when it became totally untenable for them. For those still there, democrats dont talk about outofpocket costs people on the exchanges actually pay. So yeah, you can go find a cheap health care plan, but effect you will pay 10,000, 20,000dollar deductible. People are making decisions not to get medical care because the deductibles are so expensive. She says you wont have deductibles, you wont have copays, wont will be on this great system. Every projection, neil, how much medicare for all costs in the end it will be more expensive than the Current Health care sim. These democrat are not talking about the costs because they think if they do nobody will like their plans. Neil the argument behind it with a heft after governmentrun program, like medicare you will forcibly reduce prices just by the sheer weight of the United States government, how many people participate in it but it has done little to tame, you know, drug inflation, all these other costs for mris, cat scans, you name it. Who is to say that at even larger level it would do that . Well, lets look at medicare on a small level, how many doctors have decided that they cant take too Many Medicare patients or it will drive them out of business . How many doctors took decision to get out of the medical practice. Neil she says they will get to the choice where they wont have a choice. Doctors will flee the job. If you Want Health Care to be affordable you need Health Care Available to you. The effect will definitely be, look at other countries, canada, for instance. The wait times increased. The amount of time required medical services increases, hip replacement, cat rath surgery. Doctors in the United States theyre saying theyre leaving the system because of medicare as it exists now, that does not bode well for a medicare for all system. Neil well watch closely. Vince, thank you, very, very much. Thank you, neil. Neil it will come down to as vince cited here, if you like what you have now, would you roll the dice and just disband it for this replacement that Kamala Harris and other candidates are envisioning . They were asked, man or woman this very question. They said they would. Would you . Well have more after this. Hey there people eligible for medicare. Gimme two minutes. And ill tell you some important things to know about medicare. First, it doesnt pay for everything. Say this pizza. Is your part b medical expenses. This much about 80 percent. Medicare will pay for. Whats left. This slice here. Well. You have to pay for that. And thats where an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company comes in. This type of plan helps pay some of what medicare doesnt. And these are the only plans to carry the aarp endorsement. Thats because they meet their high standards of quality and service. Review aarp Medicare Supplement plans and their rates in this free decision guide. Call United Healthcare Insurance Company or go online. Visit aarpmedsuppfacts. Com to request yours. Even apply online. Any time. Oh. Speaking of time. About a little over half way and theres more to tell. Like, how. With this type of plan, youll have the freedom to choose any doctor who accepts medicare patients. Great for staying with the one you know. Or finding. Somebody new, like a specialist. There are no networks and no referrals needed. None. And when you travel, your plan will go with you anywhere in the country. So, if youre in another state visiting the grandkids, stay awhile. Enjoy. And know that youll still be able to see any doctor who accepts medicare patients. Learn more with this free decision guide. Call or go online to request yours. Tick, tick, tick, time for a wrap up. A Medicare Supplement plan helps pay some of what medicare doesnt. You know, the pizza slice. It allows you to choose any doctor, who accepts medicare patients. And these are the only plans of their kind endorsed by aarp. Whew call or go online and find out more. Your world champion. Budha. Neil that 16yearold kyle gerdorf. He won 3 million at a fort knight cip taking place at arthur ashe stadium. His parent were complaining he was spending too much time playing the game, up to eight hours a day. I dont think theyre complaining anymore. All of sudden kids going back to their parents to say, about the fortnite thing . Digital trends editorinchief Jeremy Kaplan on all of this. Wow, i can imagine, all the parent across the country are saying, oh, my gosh, what do we do . You have to think that, right . 3 million is an incredible amount of money. If we call the guys athletes, they are not traditional athletes. Theyre not at the gym four or five hours bulging up. Not carboloading with endurance to make it through a round that is a lot of money for any kid to be making. I do want to stress these are athletes. These are a great event. They have the highs or lows of any sporting event. You have heroes and villains. You have epic contests, headtohead matches. Thrilling victories, stunning deneeds. The real payoff, the testimony how this has grown as a sport. Neil you had told me this a while ago, it would be book the fortnite phenomenon. The allure initially, you didnt pay anything, the adon, stream tag came with it. I was noticing that, entire prize fund for this fortnite tournament was in excess of 30 million. 30 million, insame, right . Neil what the heck . Seems like a terrifying amount of money. There is big business behind this. There are huge dollars at risk here. There is just a huge pool of people that are fascinating and intriguing. The money follows along where there is interest. Neil lets assume the kid doesnt fly back home via private jet and takes united airlines. Buying his own plane. Neil now he can get through security faster with some of the things united is kicking around like fingerprints, eye scans, get you through the lines faster. Is that it . Here is the thing. I will be snarky for a second. Think about the current biometrics we have at the airport. You have the picture, photo i. D. On passport, the guy there, tsa agent says, yeah, looks about right. We have biometrics that is terrible, lousy. A computer could do that better. Clear, united a couple technology companies, partnering up to bring biometric security to the checkin line. Maybe a fingerprint, face print. A couple of technologies. Neil it doesnt avoid the line but get you to the security quicker, right . In theory it will get you through faster. There will always be lines or process insane getting on airports or airplanes in theory this is a lot of good thing. The people worry about privacy s there a privacy risk here . I dont know, neil. I think people care as much about privacy as we talk about privacy. Neil youre right. It would be walloping the stocks. And it is not. Jeremy, thanks a lot. Always a pleasure, the president is back to pressuring the Federal Reserve again. Can you imagine if the fed, contrary to popular consensus doesnt cut Interest Rates this week . Wow. T 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. You wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Neil a backlash over baltimore continues. Hear why the president s fundraisers may not be backing out. They like what hes doing and saying and tweeting. The debt debate going on on capitol hill. A major republican says breaking with republicans is well worth it because he doesnt think they are acting like republicans. Then the debate over disney and anger over the happiest place on earth. Whats going on . Neil this is the week we are supposedly going to see for the First Time Since 2008 a cut in Interest Rates, and a lot of people have been saying if the president doesnt get that or see that, can you imagine the holy hell that could ensue. Hes always been critical of the Federal Reserve that it hiked too soon and did a lot of damage to a recovery that was going very robust before they got on to their sort of inflationary fear that prompted what he said was a much slower recovery than we could be seeing if they just kept their hands off the hike. To mike murphy, j jared levy an michelle mckinnon. Michelle, what would be the reaction if the fed were not to hike . I know its 8 out of 10 seem to think we are looking at a cut, i should say, of a quarter point in fed funds on wednesday. Correct. Correct. Im sure we would hear something on twitter but i mean, thats very much going against whats probably going to happen and obviously, the markets are very much bank williing on the fact l get a quarter percent lower. Thats probably what we will get. Neil you think its justified . I do. You guys cant even say cut. Neil you are absolutely right. I think its justified when you look at the global picture. I think also, its coming so you can fight it if you like but they are going to cut rates by a quarter point. The president has been calling for it. I think in order to keep up with low rates around the world, its something we need to do. They are trying to boost inflation here in this country so its coming. Lets see what happens. Neil janet yellen, Jerome Powells predecessor, recommended just that. Im wondering what after this, because we dont have a lot of arrows in the quiver. You dont. Theres part of me that wants to play devils advocate and say theres no way they would hike rates, its not the right time. Bottom line, everything points to that, the gdp report from last year, 2018, down another half percent from what it was. I think the system thats built into this marketplace right now, everything has been built on, remember when everything was falling apart, the markets were selling off, a lot of it is because we were on the wrong rate trajectory. I think its all about controlling the psychology of the marketplace right now. Neil i just worry that i see little reason to do this. I would save it for when its important to do. I dont dismiss what youre saying about whats going on globally. You are exactly right. I just think that its not a good time. Really, what they want to do, they want to be able to get inflation moving higher so the markets at alltime highs. Neil careful what you wish for. Getting ahead of the curve is important. This is one way they see they can do it. I dont know exactly that it works. I can tell you the market believes its going to work and when they follow through, i think its new highs for the market. Forecasts are the issues. People are talking three rate hikes. I was looking at the cmes measurement of the probability of hikes this year and three neil cuts. I do the same thing. Got me again. Neil i do it all the time. Im all about it, refinanced my mortgage, im in. Now that we are sort of putting that out there, three rate cuts, now you set that expectation so now, okay, we are getting this cut. I dont care what you say. Now moving forward, controlling that story for the rest of the year, keeping the marketplace happy i think will be a difficult thing. Its going to want a glass of milk and i think thats probably going to happen. If history is any guide, thats what they did in july 1995. They cut in july, they cut again in december and they cut again in january 1996. Neil normally when you start a rate cut cycle for the markets, at least, down the road theyre not positively received. Depends on how far down the road you look. I think right now, this fed since powell came on board, have done a few things, a few mistakes, trying to give us, look out for rate hikes, for rate cuts. I think you just have to look at what theyre doing now. They are data dependent. They are looking at the data. If this helps and has the desired effect on the market, i think you will see more coming. Neil obviously, to your point, the markets are expecting it. You dont want to disappoint the market. But im wondering if the markets had a choice, to your point, of a china deal that might slow the need for rate cuts or no deal and keep them going, i think things are as perverse enough now they would actually prefer no deal in favor of rate cuts. I think thats weird. I mean, its a little more complicated than that, probably. But you know, i think companies that are already starting to move their supply chains and so who knows if we have a delayed deal, maybe companies have already moved. Neil say we get a deal. Tomorrow we get a deal. Unlikely though it is, we get a deal. Wouldnt the markets start saying i guess were not going to get three rate cuts . Well, like you said, i dont think we are going to get a deal. It comes to the scope of the deal, right . Whats going to happen. China is taking that hard line, is trump going to sort of cave, which i dont think he will, and get sort of take that partial deal. I think we need i think we need the deal and we need the rate cuts. Neil i dont know whats happened to any of you. Dip in inflation. Theres no inflation. Its good for the housing market. I dont think it makes sense to look out to the end of the year, whats going to happen in january. A lot will happen between now and january. We will take this rate cut wednesday and hopefully couple it with a china deal, then we will see where we are. Neil if we dont see a china deal, its pushed off, obviously you could see because the Federal Reserve all but telegraphed that, you could see this go on forever. We had a hard deadline for china back in february and here we are. We have been able to handle that. To your point, the reshuffling has already begun. Companies are moving to vietnam, moving to malaysia. They are restructuring. Apple is talking about restructuring how its supply chain works. Whats happening now is maybe not permanently move but they will have agreements in place with other countries, just in case no matter what. It may not just be with china. They have alternative avenues. Thats a problem for china who is really banking on neil we have changed the metrics here, havent we. All of a sudden were okay with a little growth, especially if it doesnt seem to translate at this point to much inflationary growth, right . I think thats why you are seeing a lot of money coming into the markets and you can expand upon that, that theres actually no other place to find yield so people are going into the markets and they are seeing growth and seeing a lot of these High Tech Companies from the private sector, like uber and lyft, coming into the market so they can invest, you can invest money there for a mutual fund or 401 k into now the public market. Theres growth out there. May not be gangbuster growth but theres growth. At least we have growth. I think thats what the markets look at. Neil are you surprised we havent seen more bang in the housing arena, then . These are record low Interest Rates we are experiencing on the mortgage front. So far, its not as if people, you know, are stomping all over themselves to find homes. I think i am surprised by that. I think the rental market has given so much to so many people that people are saying this works, its pretty easy to find a rental through your phone in a lot of big markets. People are going there. But im still of the belief the american dream, owning a home, will come back into vogue. Neil good luck with that. I disagree. As a millenial, i dont want to lock up my capital in a home. Dont want to lock up your capital. You think about the gig economy, you can go anywhere from your job moves you. There is so much fluidity in the economy today. Neil you would rather invest in the stock market than real estate . Yes. Neil why . Because of the ability of liquidity. I literally can place a trade and its 4. 95 versus an 8 commission, and its flexible. I can take a dividend, i can take it out, i can move to another country, being in a home is, as it is a great Growth Potential neil you like the mobility it allows you. Youre not stuck there. Exactly. As a millenial, if the stock market goes up forever as it has for the last ten years, i would probably think the same way. [ speaking simultaneously ] 200 years the markets have gone up. Neil where are you located . Like in new york . Yes. I rent. Neil someones a little sensitive. So you have looked at this and crunched the numbers, because you are good at this, and say its better and we had a group with us last week that was saying the last thing. Crunched the numbers and renting is actually better. Because you have the hoa fees and thats practically rent. When you pay mortgages, the first ten years is just interest. Basically im paying rent there. Then ive got neil limits to what you can write off. 8 commission on the front and back end i think the costs to carry here in new york is very unique. Real estate all over the u. S. Is expensive but you cant buy here in new york, rent it out and get income whereas dallas, texas, where im at totally different. We were talking about buying a string of apartment buildings. To me thats good recurring revenue, theres the tax writeoff element of it and again, people always need a place to live and Affordable Housing is nice. Look around major cities. Really hard to find a place and person earning the average living wage can function and again, thats why millenials are borrowing money, its a complex situation for sure. Neil you are going against the grain. You kids today. All right. Stay. Dont go anywhere. Meantime, we are looking right now at whats happening on the impeachment front because the democrats are saying we could rain on this whole party by going after the president of the United States and not letting go. Then theres tesla. They came up with the bright idea of allowing you to stream netflix as you are behind the wheel. What could possibly go wrong with that . After this. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for Auto Insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Termites, were on the move. 24 7. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. Neil all right. It is not just jerry nadler. Democrats are not letting go of these impeachment probes and investigations. In fact, they stand to go on for quite some time. Chad pergram in the middle of that, where things stand right now. Hey, chad. Reporter hey, there. We are looking at about 108, 109 members of the House Democratic caucus pushing for impeachment. There are 235 democratic members of the house so you can see where they are edging toward that halfway mark. Over the weekend here, we started to have some swing democrats, democrats from swing states or swing districts, announcing they were for impeachment. Lets look at california. You have mike levin, a freshman democrat from a district that flipped from red to blue, used to be Darrell Issas seat in southern california. In New Hampshire, now, thats a swing state, you had andy custer, but you had another district in New Hampshire that is probably one of the swingiest districts in the u. S. It swung back and forth multiple times since 2006. The democrats held on to that seat last term with pappas winning. You can see where this starts to edge into democrats who are not exactly from safe seats. Some wonder if maybe you have, you know, people concerned that they are going to get challenged in a primary from the left. Thats the issue here. Heres the nuance right now. Theres a lot of discrepancy as to whether or not lawmakers are for an impeachment inquiry or impeachment investigation, or are they for actual impeachment. I can say one thing. You try to create a narrative going into the august recess and when you have all these distinctions about impeachment inquiry or investigation or whatever, that starts to suck all the life about other issues when you are talking about paycheck fairness or prescription drugs or health care. Thats a problem for democrats trying to control the narrative here, and impeachment, are they for it, against it, there was this very puzzling press conference that democrats held on friday. It reminded me of a line, through the lookingglass. There was a scene where humpty du dumpty was talking to alice and he says a word is what i mean it to mean. Thats the question. What do democrats actually, actually mean. Are they for impeachment or for something else. Neil thats beautiful. Thats all im going to say. I will leave it there. Beautiful. Chad, thank you very, very much. Which means will they end up having egg on their face. See what i did there . This is all basic cable, folks. I dont know what youre whining about. Back with me, mike murphy, jared levy, michelle mckinnon. The argument is, they have been saying to a man or woman we can walk and chew gum at the same time but history suggests they really cant. So if they go full throttle with this, whether justified or not, the impeachment process, little else gets done. I assume thats a given. Yeah. Thats a given. I think in terms of the way that i guide clients to think about it in terms of the markets, as a longterm investor, i dont think it would actually have much impact on the markets over the long term. Im sure shortterm markets will react but its probably just a buying opportunity. Neil all right. So this drags on, you think about it, you got 100 votes for impeachment right now without any of this stuff hitting the fan and hearings and all the rest. So the uncertainty around that, even though its i think safe to say no matter what happens in the house, its going nowhere in the senate. That could change. Do you have to play this as an investment cloud . I think theres a portion of risk you need to assign. Hes been kind of like the teflon don up until now. Hes been able to sort of deflect and work against a lot of people who are working against him. It is theres headline risk there. Do i think the chances of impeachment are high, no, but at the same time, i think its something investors probably should build in to our models. Again, i assign maybe a 5 , 7 chance of that. It will continue to be headline risk, moves things, if something is tangible, if he does something that, you know, is blatantly well, this is an impeachable offense. Vice president pence would be comparable to donald trump. He would carry the same policies. Neil i always think backdrop is important, too. It didnt help matters with all Richard Nixons troubles that was in the 70s, too. Neil granted. I remember them well. I do not. Neil im joking to make the point, i think wall street even though its kasht icharacterize republican conservative bastion, i think its green. They like to make money. This backdrop, the internet boom, the boom in the market, the economy that was going on, the jobs being created, made it less likely they would make progress impeaching the guy no matter the sin. I think whats really going to happen here is a lot of these people in the senate and in congress that are supporting impeachment right now, i think a lot of their voters, a lot of their constituents are going to look at whats happening right now and say what have you done for me lately. President trump, when he was campaigning, if you remember he said what do you have to lose, give it a shot, vote for me, has it been working for you for 50 years, people will start to realize with the internet, twitter, your smartphone, you can actually judge just like you get judged and graded for ratings, you can judge and grade your senator or congressman or local politician. If theyre not delivering for you, you can vote someone else in. Neil i understand why some like jerry nadler might push it. Hes going to be primaried and i think they all remember the crowley situation with alexandria ocasiocortez and say there but for the grace of god go i, so i have to look very aggressive on this front. Absolutely. If thats what the supporters want, thats what they have to deliver. Neil so could it gain steam is what im asking . You put it at about 5 . We dont know. Sometimes in hearings, things come up. We already have a report here. So its not as if we have any room for more surprises. Right . And that was my point. Theres nothing at the moment thats tangible that i see as well as big risk outside of what we have already assigned. 5 to 7 is a head line, sure. Can it create chaos, perhaps. We are so used to sensational, i mean, tweets from trump, tweets from the opposition, thats the world we live in. Its a sensational headline world. I think its a nonissue at this point based on the information we have. Neil let me switch gears. Maybe a little less controversial although judging from the coverage its getting, this is more controversial. This womans rant that went sort of viral worldwide that, you know, adults without kids shouldnt be going to disney. I mean, i went to disney world a lot in my 20s. This is crazy. I go quite a bit to disney. They love it. There are people of all chajs there. Its the magic kingdom. Theres no reason why adults shouldnt go. Everyone should go and have a good time. If you remember, there was a big fight in disney neil yes. So in todays disney, anything that happens is going to get caught on film somewhere and we will all hear about it. If its sensational enough it will go viral. People of all ages should go to disney. How dare her take my childhood. Go and hug mickey, feel good, maybe escape. Neil you visit the hall of president s . Of course. The whole nine yards. Neil i see lots of couples who get married at disney. Absolutely. Its a big business for disney. Neil where does this come from . It probably heightened the interest of people wanting to go. Free publicity for them. Neil free publicity for them. All a stunt. Neil it got us talking about it. Guys, thank you all very, very much. Good seeing you again. In the meantime, 3 million for winning a fortnite game. You have been lecturing your kids cool it on the gaming. Now the kid comes back, you let me keep doing this, i will pay you back in spades. This young man did just that. Hes 3 million richer. He claims he only plays the game eight hours a day. After this. See thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade when i walked through a snowthats when i knewtte, i had to quit. For real this time. Thats why im using nicorette. Only nicorette gum has patented dualcoated technology for great taste. Plus intense craving relief. Every great why, needs a great how. Gimme two minutes. And ill tell you some important things to know about medicare. First, it doesnt pay for everything. Say this pizza. Is your part b medical expenses. This much about 80 percent. Medicare will pay for. Whats left. This slice here. Well. You have to pay for that. And thats where an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company comes in. This type of plan helps pay some of what medicare doesnt. And these are the only plans to carry the aarp endorsement. Thats because they meet their high standards of quality and service. Review aarp Medicare Supplement plans and their rates in this free decision guide. Call United Healthcare Insurance Company or go online. Visit aarpmedsuppfacts. Com to request yours. Even apply online. Any time. Oh. Speaking of time. About a little over half way and theres more to tell. Like, how. With this type of plan, youll have the freedom to choose any doctor who accepts medicare patients. Great for staying with the one you know. Or finding. Somebody new, like a specialist. There are no networks and no referrals needed. None. And when you travel, your plan will go with you anywhere in the country. So, if youre in another state visiting the grandkids, stay awhile. Enjoy. And know that youll still be able to see any doctor who accepts medicare patients. Learn more with this free decision guide. Call or go online to request yours. Tick, tick, tick, time for a wrap up. A Medicare Supplement plan helps pay some of what medicare doesnt. You know, the pizza slice. It allows you to choose any doctor, who accepts medicare patients. And these are the only plans of their kind endorsed by aarp. Whew call or go online and find out more. To every 9 11 hero, you poured out your heart, your sweat, your soul and everything you had for your country. You ran toward the wreckage into a ball of flames like frankly nobody in this country had ever seen. For your entire lives, you have gone far beyond your duty to us and today, we strive to fulfill our sacred duty to you. Neil the president signing on to that 9 11 Victim Compensation fund bill that calls for, you know, continuing to keep funded right through almost the end of this century, and beyond. The funding for those directly, indirectly affected, either their descendents by what they encountered at ground zero. Thats done. It was only rejected by two senators, mike lee and of course, rand paul, who argued they wanted to find a way to pay for it first, but they were overwhelmingly overridden. Bottom line, its done. Meanwhile, President Trump is distracting from these type of developments with some tweets that have gone back and forth now over baltimore, over the condition of districts run by african americans. Political White House Reporter kathy orr with us on that. Now its just, you know, a mud fight. Im wondering even when the president is right, do some of his backers feel its sounding and being translated all wrong . What are you hearing . His campaign thinks that this is at least working to his advantage, neil, but if you look at poll after poll, when Republican Voters have been asked whether or not they think the president s twitter habits are beneficial to him and to his reelection campaign, they typically say that they wish he would tweet less. I think its moments like this where these controversies erupt where you see politicians on all sides, democrats and republicans, condemning the president s outbursts that it really does tend to hurt him. Again, if you talk to his campaign officials, they will tell you this is all part of a coherent strategy to capture the attention of disaffected voters who are worried about major cultural change in america. They are specifically targeting White Working Class voters and Union Households in places like the rust belt states that trump won in 2016, who they think they can reach by stirring up these controversies. Neil you know, so far, poll numbers within the Republican Party vindicate him and this approach that hes taking and maybe some people see through the hypocrisy of his critics like al sharpton, for example, saying tiwana brawley who lied about white men raping her, its a bit rich for him to claim about inciting racial attacks so maybe that is changing it, but not so with independents and people for whom the president would probably want to reach out, right . Right. Its hard to see how this works to capture the attention or bring into the fold independent voters, centrist voters, people who might be disaffected or feel as though the Current Democratic Party doesnt represent their views but arent quite ready to embrace President Trump and certainly didnt vote for him in 2016. Of course, thats the group that hes going to need to target heading into 2020, to expand his base and find a path to reelection. If he cant get those voters into his fold, if he cant get them to vote for him in 2020, its difficult to see how beneficial this strategy actually is. Neil you and i have gotten into this before, the president s people remind me they think that support is there, its just that they are afraid to admit it in polls, and they talk about record low Unemployment Rates among hispanics and africanamericans, that that is surely going to resonate at the polls with groups who might not give him a majority, but they would certainly give him more of each vote sector than a republican has enjoyed in the past. What do you think of that . Well, look at the exit polls from 2016 and 2018. The president did do a decent job among hispanics and africanamerican voters but underperformed the previous two republican president ial nominees, mitt romney and john mccain. So to say that the Unemployment Rate among africanamericans is going to help him in 2020 or give him some type of an edge in the electoral college, his campaign will make that argument, they will continue to say that these are things that will help him with minority communities, but when you juxtapose that with the Media Coverage of these tweets and the racial animus that has been put at the center of his campaign, its just difficult to see how you square both of those things and whether this strategy actually does help the president as opposed to hurting him with those minority communities and with independent voters who are paying very close attention to his campaign. Neil all right. Well watch closely. Their argument is thats a differentiator. This time he has the lower Unemployment Rates among those groups to get that support. Its still early. We have to see. Thank you very much. Thanks, neil. Neil it looks like that debt deal is going to pass but not without a little bit of even republican grumbling. After this. 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. Neil all right. It avoids the debt ceiling fight for another couple of years but what they had to do to get there is sticking in the craw of a lot of republicans who say we kind of lost our mojo on this thing. We are all about fiscal discipline and were not showing it here. A number of key republicans on this agreement that is expected to pass are saying they would rather take a pass, people like mitt romney and senator josh hawley and senator rick scott, among those saying we cannot put pen to paper and sign off on this. The center for freedom and prosperitys dan mitchell, you know, you think about it, they have a right to be anxious because of the precedent it sets but its not unusual. This has been going on forever, right . Well, the best fiscal policy legislation we have had this century was the budget control act in 2011. The bad news is, in 2013, 2015, 2018 and now in 2019, politicians keep moving the goalpost to allow more spending. This by the way is just Discretionary Spending which is the least of our problems. We also have the giant entitlement programs that are going to swallow up our future. Its very hard not to be depressed and i applaud any republican senator who still has a shred of fiscal responsibility to oppose this turkey. Neil you know, whats odd to me, though, they will always justify, well, we are getting clos to an election year. Well, you know, the moon is out. Well, you know, its hot. You always come up with a variety of reasons not to do something. But the fact that both parties signed off on it knowing that whatever veil there might have been with restraints and budget caps, is long gone because these have blown past them and we are doing these in good economic times, not even bad ones. Thats whats really scary. When theres a recession, i dont know if that will be one year, five years, who knows. When theres a recession, spending goes up, tax revenues fall. The deficit doubles. We already have giant amounts of Government Debt because government is too big and spending too much and frankly, we are heading down the road to being greece. I think we have probably 15 years, 20 years before we actually get there, but if we dont make changes now, were in deep youknowwhat. Neil you know, we have been in this sort of predicament for awhile now. Yet you just heard today a lot of commentary about Interest Rates are going to go lower, worldwide rates are going to go lower so we can easily afford that. You and i know 22 trillion, 23 trillion debt, it doesnt take much, a quarter point, half point hike in rates and all bets are off. That will be a problem but i think the greater problem is debtfinanced Government Spending crowds out private capital spending. In other words, its sucking money out of private Capital Markets to be squandered by politicians. The tax finance spending is bad, the debt finance spending is bad. If we turn into argentina we will have printing money finance Government Spending. The real challenge is getting spending under control. We need to copy what colorado has with their taxpayer bill of rights. Its in the constitution. The politicians cant just change it every other year because they want to spend more money. Neil whatever safeguards they put up or guarantees to avoid this, they write them, then they can scratch them out. Thats the problem in washington. Or we dont we do what switzerland has with their debt brake which is a spending cap. Switzerland is in such great shape, they have negative Interest Rates on 50year bonds whereas we are heading toward a very very dangerous future situation, because our politicians are behaving like greek politicians. Neil we forget what happened to our downgrade a little more than a decade ago. Had nothing to do with the government shutting down but the theatrics around it that avoided it. Again, its a matter of trend lines and the trend line is that Government Spending is growing faster than the private economy and guess what, the private economys the tax base. If we dont reverse those lines, we are going to be in serious trouble and republicans including trump are just as much to blame, if not more than the democrats. Neil everyone stands for this. Dan, thank you very much. There ought to be a big fortnite tournament to pay off the debt. If one teenaged kid can win 3 million doing it, im sure we can get everyone together and make the prize 23 trillion. After this. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for Auto Insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Neil we are up about 55 points on the dow. It always helps to have deals percolating. Pfizer and mylan are the latest example of that. The environment is very allowing for that sort of thing and this is just the latest example. Deirdre bolton at the New York Stock Exchange with more on that. Deirdre hey, neil. This is merger monday in pharma. Analysts are saying more is to come in this sector in the next 12 to 18 months. Today, pfizer merging its offpatent drug unit with mylan. It will form a new s p. Mylan shareholders get 43 , pfizer shareholders own the rest. This newly combined company will have products such as lipitor, viagra, xanax and analysts say it will help pfizer focus on new medicines, new vaccines. For mylan it will give the company a bigger platform. That stock lost threefourths of its value since 2015 as a market for generics struggled in north america. The point for this is they are going to be able to sell the offpatent products in developing countries, so china, other parts of asia. Thats going to be in theory a big win for both. Some people think going meatless is a healthier choice. Not sure that has been proven yet. I want to highlight beyond meat. Its going to be reporting after the bell. Since its ipo in may, that stock is up 800 . One to watch. Back to you. Neil that is incredible. All right. Deirdre, thank you very, very much. Meantime, you have probably been following this story because it does sort of say whats more important, the drive or what you can watch while driving besides out the front window. Tesla cars will start streaming netflix and youtube while in park, while in park, not while youre driving. I dont know. The whole thing is kind of making me wonder if youre in park, why would you even want to be doing that. Anyway, Constellation Research ceo ray wong on all of this. Good to have you. Thanks for coming. Only in park you could be streaming this or once its there, is it there for you and the passenger to look at as youre driving . Its definitely about being in park. What happens is a lot of tesla users including myself, you get to supercharging station, its 30 to 60 minutes. I can play video games and finally, after seven years of waiting, we can actually stream video on youtube and netflix which will probably show up in an over the air update at some point in time. Neil im a little relieved. I thought it was happening while you were going 80 miles an hour on the highway. No, no, no. You dont do that. Neil i was worried. So what do you think of what tesla is doing . Obviously its been busy lately talking about a host of models and saying we still stand by our product and we are getting the cars out there. But theres a split view. People either love it or hate it. Obviously this is all about getting fannies in the seats. I always wonder, too, whether some of the competitors from volvo and all these others, renault, that are looking for not only selfdriving cars but complete lines of their own electric cars, does tesla have the risk of being passed by here . You know, i dont think so. I think im on the side that i love tesla as a consumer. As a stock, im iffy at the moment but part of the reason its working, they are basically saying we are rolling out more futures. Kind of like squirrel over here, check this out while by the way, we dont have a permit to actually build factories in china. Thats how i look at this. Its kind of interesting to see how they are managing this but the enthusiasts are there and as they go down the model lines, you see the different variations pop up. But longterm, i think tesla has a Better Future providing the power trains and power plants for everybody else, and i dont know when they are going to make that transition or if they still want to be an independent car company. I think thats what people are waiting to see. But the china trade deal will play a big deal whether they probably get that manufacturing permit, maybe. Neil but is it still a proprietary type situation . You get into a charging station designed for tesla but not for a leaf, you know what i mean . Will that ultimately be settled or what . You know, there are multiple formats today and i think teslas is probably the most prevalent. Its still very proprietary but its commodity. Panasonic batteries are strung together into layers, its the software that makes the battery very special. Neil all right. Got it. Im relaxed now. When you told me and warned me my fears were way overblown about tesla, cant stream this stuff as you are driving. Ray, always good seeing you. Thank you. Hey, take care. Neil meantime, millenials are taking money from their parents, a good many of them, each month, every month. What is this saying about our economy and more to the point, what is it saying about our kids . After this. Ture . Can you feel calm in the eye of a storm . Can you do more with less . Can you raise the bar while reducing your footprint . For our 100 years weve been answering the questions of today to meet the energy needs of tomorrow. Southern company neil you know, the economy might be running on all cylinders as the saying goes, but dont tell that to a lot of millenials, half of whom are still getting help every month from mom and dad. The amounts might differ, but the overall aggregate half does not. What to make of that . We have mike murphy joining us, jared levy and michelle mckinnon. Michelle, what do you make of that . Well, im curious to see how many were surveyed and are the parents paying the cell phone bills because they want to or because they have to. A lot of my friends, their parents pay because its easier, its on a family plan, its a lot cheaper. So does it really show millenials really need money . I dont know. I dont think so. Theres something to this. In our family, we have a couple millenials, im four years away from being a millenial. Lot of sharing going on. Sharing of phone bills, even Car Insurance plans and car sharing. I think a lot of it has to do with the lack of sort of commitment to how do i say this without offending anybody . Neil responsibility . I agree its just knowing there might be a better way without always having to sign a contract. Nl neil you might be right about that. It is more convenient with family plans and all that. The question then is millenials, are they paying back their portion to the parents . I will come to the defense of millenials. You are looking at stats that we didnt get in previous generations. We dont know how your parents helped you or my parents helped me. Now we are monitoring this. Neil on me, they kept moving. I always caught up with them and found out where they were going. I think parents are going to help their children regardless. Its just now that everything is measured and monitored and we are hearing about it because we want to knock millenials. Neil wasnt that long ago the world war ii generation lived in the same home. Maybe we are making a big deal about that. If it is true, and you hear young people talk about loans, college loans, you understand the appeal of candidates who reach out and say weve got that debt covered, weve got a host of things that right now are pressing you down, a way for you to look for something appealing. Absolutely. I definitely agree that student debt is a problem. Its interesting that i am seeing with my clients, we do a lot of family planning, that if they are one, two, five, they want to plan for College Education but they want an option where if their kid does not decide to go to school, that its not all in a 529 or something focused on college because i think parents are realizing not that you dont need a College Education, but there are vocational schools, so there are options out there that could be just as good. We have an investor that runs a Company Based in california. They have been very fortunate and helped several generations of their family start businesses, move into other areas so they are building good businesses with the help of someone who has been more fortunate before them. I think right now, the way things are set up in the u. S. For people who have been successful to help the current generation, i think its great. I think its whats contributing to a lot of our growth. Neil you heard before, we were talking about the reticence to participate in real estate, rent rather than own. That extends to a lot of institutional sort of favorites of the yuppie generation, where you invested in the markets, the percentage of young people in this market is the lowest its ever been. Why is that . Its different, right. Theyve got first of all, i think millenials should be singled out not in a bad way but they also changed the game. Also, there are 83 million of us. Bigger than baby boomers. Correct. You guys were pioneers in digital technology, social media, interaction, they are doing things. I have friends that are capitalizing on things that i never even thought about, like silicon dog tags, that guy, all these little ideas, looking at processes and mechanizing the processes. Maybe its not about owning real estate, its about keeping capital free and being flexible and mobile and thats perhaps the driver for millenials. Neil they are angry at my generation. Were to blame. I think we are always angry at older generations. We always want to Say Something bad about Younger Generations. Neil but when you leave me a bottle of prune juice on my desk i wouldnt do that. A lot of millenials lately like in finance talk about opportunity zones and the potential to make money in opportunity zones. They are coming around. They are getting neil every american generation does. Exactly. Neil i dont know if this is worth a big deal, but disney is cleaning up at the box office right now. Seven months into this, its made more than it has ever made for a full year. Its on fire. Its movies are the only reason why hollywood is doing well right now. What do they get that others are not . They get the franchise model is what i think. They go out and you see incredibles 1, 2 and 4, i cant keep up with neil they make them better. And when the movie comes out, you have young children, you have to go see the movie. They are appealing to all different age groups right now. Then they drive you into the theme parks to go on the rides that are tied to the movies. Neil whether they bring kids or not. But it is amazing, disney off of that purchase of getting a lot of the marvel movies, for example, its now worth 3 billion or 4 billion, they make 20 billion in revenue just off the movies. They are doing something right. Disney plus, kind of talking about the revenue they are generating from the box office and the families have to buy the disney plus. It will be a massive circle. Content is a difficult thing. Disney is executing brilliantly. I agree, the marvel franchise is a fantastic deal for them. They continue to capitalize on that. Remember, you could be hot one day, out the next. Look at hbo and the game of thrones county thrones thing. I think for now theyre hot. Neil they are giving netflix a run for their money. They are. As long as theres good content, you will pay the 7, 15 or have your parents pay for it. Neil that was a slap at millenials. You get the same plan. Guys, great as always. I appreciate it. Meantime, wall street journal reporting that netflix is indeed spending over half a billion dollars to make films. They are doing their thing while all the other guys are trying to do their thing. Lot of money in this. If they had this to apply to financial anchors and multiyear deals, we are talking major dineros. More after this. Why think about your heart . Because with my type 2 diabetes, im more likely to have a fatal heart attack or stroke. Lower a1c helps, but type 2 diabetes still increases my risk of a fatal cardiovascular event. Because type 2 diabetes is more than a1c. Wowthese are great answers and thats why theres jardiance the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known heart disease. Because jardiance can reduce my risk of dying from a cardiovascular event. And it lowers my a1c, with diet and exercise. Genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, now what do you think . While my a1c is important, theres so much more to think about. Ask your doctor about jardiance today. 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. Neil all right. Just talking to disney media entertainment. Shares are sliding. Barclays is warning that a new mobile network after the tmobile sprint deal will require heavy spending. Remember that is among some of the possibilities for dish, post that tmobilesprint pairing. Barclays argue it will cost them a the lot. To Charles Payne right now. Hey, charles. Charles neil, thank you very much. Good afternoon, im Charles Payne this is it making money. Stocks are off the record highs this week. A slew of earnings including beyond meat this afternoon and apple tomorrow. We have coverage all hour long. Two years of clashing with President Trump, dan coat is out as director of national intelligence. He already has a replacement in mind, a friendly face. President faces charges of racism after a set of tweets blasting baltimore and the representatives in conference he is meeting with innercity pastors. Darrell issa is here to weigh in. We have that and so muchor