Transcripts For FBC Cavuto Coast To Coast 20240714

Prompted money guys to were in his camp. Neil the dow up 250 points. Edward lawrence what might be the fierce of all this an extended trade war. Reporter the president in almost a News Conference before he left, uploaded some very critical thoughts about a trade deal with china. Listen. Were talking with china. Were not ready to make a deal. Well see what happens. Weve been hurt by china for 25, 30 years, nobody has done anything about it. We have no choice but to do what were doing. Reporter the president upping the ante and pressure on the chinese economy. He says no u. S. Cop will do business with huawei. That will halt of process of 35 Companies Going through for a special license to sell to huawei. The u. S. Labeled china a currency manipulator. The yuan hovering seven to one with the dollar lessening impact on tariffs. The president doesnt want to artificially weaken the dollar but believes he needs more help from the Federal Reserve. We have virtually no inflation in our country. If the Federal Reserve brings down Interest Rates over a period of time. I would love to see a point or little more than that if they would stop quantitative tightening we would have a rocket ship. Reporter markets think there might be a rate cut at the next meeting in september. With the u. S. Growth the president took another shot, a parting shot at the chinese numbers. The president saying the gdp number the gdp growth number in china he believes is phony. He thinks it is flat or neutral. Neil were in a rocky month. Mostly october gets fingered for the worst month of the year but typically the month were in right now. Jackie deangelis at New York Stock Exchange with some of the latest news. Jackie. Reporter neil, it has been a rocky august to say the least but the sound bite in Edwards Point regarding china, coming straight from the horses mouth, if you will, a deal is not imminent. You saw stocks moving down to session lows. The dow trading 227 points lower. Traders told us since monday, expect a volatile week, expect a volatile month as this whole thing gets hashed out. Look at the 10year note though. That caused a lot of volatility this week as well. You can see that were seeing stabilization in the 10year. That is helping things out a little bit. Finally, take a look at the vix as well. The vix is sort of a fear gauge, a gauge of volatility, if you will. We did see a little bit after speak in the vix now trading at 19 and change. So a 12 spike up just today leaves people wondering how much longer is this going to take and how long will it go on . It was a rough week for the dow but you did have some winners mixed in there. Were looking at mcdonalds, cocacola and dow as weekly winners so far during the session. The losers, ibm, intel, 3m. You know the selloff and volatility weve seen was on a broad range of sectors, pretty much everybody was impacted. Neil all right. Welldone, appreciate the update, Jackie Deangelis joining us from the New York Stock Exchange. You heard jackie talking about the 10year note. There is a lot of fixation on inverted yield curves. Without getting too arcane about this, a lot of focus, the gap between a twoyear and 10year note, between a three month bill and a 10year note, between overnight Bank Lending Rate known as federal fund and the 10year note, there was inverted yield curve when it came to the latter maturities i was telling you about, threemonth bill, what was happening right now on the overnight Bank Lending Rate. There had not been an inverted yield curve when it came to the gap between the two year and the 10year note. Now there is with the 10year trading slightly under that rate. It has been jostling here. That completed sort of a hat trick for the markets. If all three were showing themselves inverted. In other words you were getting more rate return for shorterterm maturity than you were with the longerterm one, at the risk of boring you that i do so well anyway, that was a cause of concern. That kind of fueled this. This is technical sort of underpinning these guys who read chicken entrails and tea leaves. I dont know what to make of it myself. But sometimes it tends to pan out. We have rich karlgaard, david french with us. On the whole china thing. Rich, i think youre back from china. Maybe you can give me an eye from there, how theyre responding to all this, how theyre taking all this in . My flight from singapore to hong kong was a quarter full. The Hotel Occupancy rates are way down in hong kong. The airport looked like it had been bombed out. Just warrant that many people there. Hong kong, all these protests are going to exacerbate the situation because despite the nominal reason for these protests the extradition, you know, thing, its really an economic protest. You have got so many people in hong kong who cant afford a house, things like that. If they will lose their jobs in a weak hong kong economy, you can see this thing is going to get worse. Now the thing about president xi is, we dont know, at least i dont know what kind of internal support he has in china. He has a couple of major face saving issues going on at the same time. Hong kong and the fact that you know, the u. S. Has the upper hand in this trade war for the moment. So, you know, we assume, we call him president for life. I dont know thats necessarily true. Neil yeah. The last one ripped up the constitution and deemed himself the leader for life was mussolini. That didnt work out too well. Well get into that a little later. David french, from the retail side were told the latest wave of tariffs that kick in on september 1, those likely will be felt immediately, pegged to 10 , theyre on items already here and effect will be immediate, unless with some of these others we see on industrial side, American Distributors can absorb a lot of body blows, not pass along that much. What are you envisioning . Certainly the tariffs land right in the middle of the busy Holiday Shipping season. Our busiest months for import and shipping in retail are september, august, october. That sets up the Holiday Season of the pricing increases will be felt by consumers fairly quickly. Were talking about over the next year, apparel, 4. 4 billion more. For toys 3. 7 billion more. That is what people buy at the Holiday Seasons. It will cost more. Neil what do the retailers themselves do . This is the time of year, when they start stocking up ahead of the christmas Holiday Season, are you getting evidence that some are stocking up a little early, more just in case, this lingers for a while . What are you getting . Retailers are doing everything they can to mitigate the harm of the tariffs but the tariffs create a lot of uncertainty. Retailers just dont know when the next tweet is going to happen, when the next cost increase is going to be forced on their supply chain. But certainly theyre bringing in product earlier, maybe ahead of the tariffs if they can but only large retailers can successfully do that. Smaller retailers may not have the Storage Capacity and inventory and things like that. Smaller retailers are also very vulnerable to price increases from their wholesale suppliers. So it is really not a very pleasant environment in retail right now when you think about the cost of these tariffs. Neil you know, rich, at the outset you were starting to mention the wild card that is hong kong. Hong kong residents have fairly free and open access to what is going on in the world back in Mainland China not so much. Do we know, did you ever discover some of the things you were running into including airport is did are up shuns and like i guess disruptions will pick up team this weekend are getting pass along to mainland chinese who might not be aware . I would assume so, probably more than the Chinese Government would ever want to admit. You have giant shenzhen in Mainland China over the border from hong kong, a lot of travel back and forth. People can see what is going on. You have smartphones with cameras everywhere, probably the chinese. More information getting into china. The business class, ruling party knows all about it. So xi may be a little weaker than we suppose. Neil so when you go there now, do the protesters block access to the airport, outside, inside . Where are they . How do you get around them . Can you get around them . Well they have attempted to. The peak protest day earlier this beak in hong kong was monday. I happen to be there on tuesday. It was blessedly a kind of rest day for them. It will be gearing up again this weekend. It seems to go in surges like that. These are very smart protesters. They pop up here, they pop up there. They shield themselves with umbrellas. This thing, theyre really provoking some kind of a violent response from Mainland China. I certainly hope that doesnt happen. I think china is aware that they are on the global stage with billions of cameras around the world and smartphone users and social media users that, so, were at a stand off likely to go on for some many month. Neil wow. It is escalating there. Rich, final word. David, have a wonderful weekend. Thank you, neil. Neil speaking of the weekend well monitor what is going on in hong kong. Were messing around with a city, country airport, youre messing around with core commerce. The chinese are not taking that happily. Good thing were live 10 a. M. Eastern time on fox news channel. Live time reaction what is going on there and how it could impact the trade deal. These are more joined at the trade be hip than you think. Well connect. You will want to watch. Well have more after this. Ian buying a new car. Lets go. Limus right. Liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. Oh. Yeah, ive been a customer for years. Huh. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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. Neil it is good to be president. This one is expecting to raise 11 million in twin fundraisers today in the hamptons. The donors are not backing down despite a backlash that involved one key donor, stephen ross of course of equinox and soulcycle fame, among other things. A multibillionaire. He and the president were told goes back 40 years. He doesnt care about the dustup, but a lot of people who frequent these gym establishments are threatening to leave an not come back, how much impact this will have is anyones guest. We have a democratic strategist ted, and ted cruz former campaign pollster, well conducted in government circles. Jim wilson. Welcome to both of you. Thanks. Neil the fun raising issue for you yourself, chris, is it going to be a problem for the president. No. Bottom line it isnt. Donors like this dont care about this type of pressure. Theyre above it. If they care about it, they will switch support to superpac and write a larger check because it will irritate them so much. When you look at where the president s money is coming from in large swaths amazing amount of small dollar donations he is eliciting. Im on his list. Theyre already using this as a fundraising technique. Neil youre a guy i would certainly want to hit up. Theyre using emailing. Neil you have heard what chris said, brad, is this kind of thing that boomerangs . There is always some controversial financeer that raises eyebrows. I see it in every election cycle but, this seems a little overdone but what do you think . Look, first of all, i like activism. It is part of the democratic, you know, base is the activists. The fact that we can, you know, stand up and say, hey, youre giving a lot of money and we are customers of yours, and youre giving money to a candidate we dont like, who might be very divisive, and were going to do something about it, i think is a terrific thing. I think it is terrific thing for democracy. Neil you dont like economic pressure . A lot of people love ben jerrys ice cream. They know theyre liberal. They like chunky monkey. Thats great. Neil i like chugky monkey. Will they go that far. Im totally conservative with the conservative wants to eat chunky monkey and the liberal goes to soulcycle. Put all this at the fringe. Doesnt matter to them. If you want this to matter to you, you want to take action, the good thing is, we do have visibility who is making donations. Then we can expose them and public can do what they want. They make their choices. This is terrific for government. Neil i hear a lot of this going on when barack obama was president. An event, entertainer would behind that event. We dont lash out at entertainer or go to their moves veries, not go to their establishments. Seems this particular wrath is focused it was actually the other way around t was who is barack obama taking money from . Okay . It wasnt who are those, would blame, youre taking money from this person. Youre taking money from that person. That is no good. Neil did they go after any of the movie houses whose chieftans . No. There was an attempt to. Come on. This network did a great job of saying, oh, my god, liberal left coast, the liberal moviemakers, hollywood, that doesnt make their decision with all due respecific. Neil if you dont give them the chance its a little bit inintimidating here. Chris intimidating . Republicans are afraid of mean, tough democrats. Come on. Were not that scary. Neil depending on the day. Do you think republicans are being consistent on this issue . If youre so upset about this and establishment being targeted because thegy who runs them, albeit as passive investor, is giving money to a campaign, youre going after, not you specifically, youre going after twitter, trying to cut business arrangements with twitter because they took down the whole Mitch Mcconnell house protest . Took down. Neil cant have it both way. They shut down with Mitch Mcconnell. There is a lot wrapped up. For those want to protest, soulcycle, equinox, only people they are hurting, people that have jobs. They are not hurting owners. Not afford a new quarterback for Miami Dolphins next year. He will be fine. When it comes down neil that would be a nice effect. What twitter did is completely unrelated. That would be the same as if fox all of sudden said because the castro brothers exposed and doxxed a bunch of their donors, well not allow on our network. You have nothing else to say. The fcc would come down fox immediately for denying someone a voice you would be fined overnight. Twitter is doing that. Neil in remote cases this is slippery slope. Going after news personalities on msnbc or fox, something that offends conservatives, hear it on msnbc they lead a Boycott Movement or hear the same here. You target a personality an his or her show. I dont like that either. What im just saying is, youre quite right to say, in free country, youre free to take this to any level you want. I think it is an extra level of intimidation . Look, i dont disagree there. There is a point of no return here. When you start targeting individuals because they Say Something that you dont like, whether its a comedian, whether it is a talk show host neil dont watch them. Dont watch them, come on. Neil when you carry it next level where you hurt innocent people, say the guy working at exquinn knocks or, you know a trainer working at spin cycle, soulcycle, you see how wellversed i am, it goes a little too far . No, i dont disagree there. I think our society is reflective of divisive inness in our political, our political temperature here in this country. Really is bad. And like everything else, there are times we go too far. That is the nature of you know, having a democratic society. The pendulum swings too far. It tries to moderate at some point in time. Yeah, weve seen really ugly things occur with activists when they take target, put a target on somebody, i think later on history will say we regret having gone along, let them push us around. That is concerns me what happened with julian and joaquin castro, taking donors name to trump, some of his own donors, putting them on line. It is public but when you expose them that is the true definition of doxxing. Now, gives there are violent groups on the left in this country, on the right too and on the left, antifa is perfect example know who they are. That is unfortunate. One of the fundamental rights we have in the country is secret ballot. In essence that publicly exposes the secret ballot. Youre implying they vote reason we have secret ballot because people were threatened, their jobs were threatened, careers were threatened with all due respect. You dont have to give a donation. Yes your ballot is secret. When you vote. You dont have to gift donation. Once you give the donation that is public. That is different from putting it up on the fcc website. That is going too far. Neil they can get it. I mean look, i stand with castro in the ability to do that. You know, look, if something negative comes out of it, his neck is on the line for doing Something Like that. Look, there is risk and return in all of this kind of thing. It is dangerous game to play, especially in this day and age, but there are serious issues we have to confront in the next election. So everybody feels the, you know, that weve put this ante as high as it can get. Neil thank you, final word on that. I want to thank very much with calm rational debate. That is not always possible these days. Are they worried about joe biden, is it his latest blunder or are people antsy that he might become the latest nominee . Were on it after this. Ies about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. 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. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums i know i have republican colleagues who voted no on the manchintoomey bill in the past and rethinking that. Neil have you talked to Mitch Mcconnell whether he is open revisiting . I spoken with the president repeatedly. The president definitely has an interest. He has not made a commitment to a specific bill. I have spoken with senator mcconnell. As usual, Mitch Mcconnell is about getting a successful out come. Neil will the senate move on gun reforms. A lot of money at stake, not only in that community, but a lot of money interests that support these candidates to vote a certain way. Blake burman at the white house, where the president is saying a few moments ago, something has to get done, he talked to Mitch Mcconnell with indications something will. Sir . Reporter indeed. We got the president this morning 35 minutes on the south lawn, neil, as he left the white house which turned out to be a fairly wideranging News Conference which he ended up summing up his feelings with his reaction to guns or Mass Shootings saying quote, i dont want crazy people having guns. On multiple occasions the president suggested this time around there might be wideranging support for expanded background checks. The president saying in recent days he has spoken with nancy pelosi, Chuck Schumer and Mitch Mcconnell. That even the Top Republican senator has expressed an openness to some form of expanded background checks. Watch. Frankly we need intelligent background checks. This is not a question of nra, republican or democrat. I will tell you i spoke to Mitch Mcconnell yesterday. He is totally on board. We dont want insane people, mentally ill people, bad people, dangerous people, we dont want guns in the hands of the wrong people. Reporter the president said he had multiple conversations in the last few days with the head of the nra, wayne laperriere. The nra said in a statement after last weekends Mass Shootings, that it quote opposes any legislation that unfairly infringes upon the rights of lawabiding citizens. The president is saying this morning he thinks the nra will either support what might come about legislatively or not provide resistance. I think in the end wayne and the nra will either be there or maybe it will be a little bit more neutral. That would be okay too. Reporter by the way, neil, over at the white house today there are stafflevel meetings as being described to us with members of the white house, other members within the administration across government and those certain representatives of Tech Companies and internet companies. The white house has been very tightlipped about this meeting though, not providing any sort of attendee list, or even when this might be taking place. The president though has talked about in recent days, the need to have social Media Companies work with the government to identify potential, those might be potentially posing harm to the community, as well as cracking down on videogames. This meeting over here at the white house, were told, will focus on extremism online, and violence on line. Neil . Neil we have not gotten a full list who be there, have we . The president is not going to be involved. He is currently in the hamptons normally there are couple different ways you can look at this. With the immediacy and urgency, what is talked about, violence online, the white house should put forth a list, who is involved, what are they talking about. Give us some sort of a readout. They havent. The other side of the argument, there are staff level meetings every day, month or year at white house. Maybe they dont feel they need to put out a list as it relates to this one. Neil interesting, blake burman at the white house. 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Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs. Oh, and happy birthday. Or retirement. In advance. Poor kids are just as bright and just as talented as white kids, wealthy kids, black kids, asian kids. I really mean it. [applause] how we think about it, we think we will dumb it down. They can do anything else anybody can do, just given a shot. Neil i know what he meant to say. But remarks like that have been sort of picking up steam, were told increasingly its a concern not only to the former Vice President s backers but some of the money folks who are behind investing in the man or woman they think is most likely to beat donald trump. Fox businesss Hillary Vaughn is in iowa right now, the iowa state fair where they all seem to be coalescing right now. Whats the latest, hillary . Reporter hey, neil. Biden is getting a lot of blow black for comments he made in iowa, not from his fellow 2020 democratic contenders. Theyre blowing it off as just a gaffe. I asked former hud secretary Julian Castro what his thoughts are on those comments, and if they are race it. Remember castro served with biden in the Obama Administration but castro today tell me this. Said yesterday that poor kids are just as bright as white kids. Do you think that is racist . Look, i dont believe that the Vice President was being racist in that moment. I think that, like a lot of us when were speaking he got tripped up in his words . Reporter President Trump today also choosing the frontrunner as the person he would like to face in november in 2020, saying that biden doesnt seem to be all there. Joe biden is not playing with a full deck. This is not somebody you can have as your president. But if he got the nomination id be thrilled. Reporter i also asked entrepeneur andrew yang who is also here at the fair speaking to caucusgoers if he thought bidens comments were off color . I think that is joe biden being joe biden. He clearly misspoke, using a poor choice of words. But we knew where he was going. Reporter neil, 2020 democrats really staying far away jumping at the opportunity to take on the frontrunner even over a gaffe. Well see if that stays that way especially headed into september for the next debate. Neil . Neil hillary, thank you very much. Any fair and balanced observer could say, all right, if had misspoken or said the wrong thing, he gets a pass, which is probably proper thing to do, if that is what you suspect, not so much the president of the united states. Maybe because well the other guy is the president of the united states. But just insight there. Washington examiner Senior Editor Kelly Jane Torrance on all of this. What we know right now, kelly jane, it has got some biden supporters a little bit nervous, money guys, more than a little bit nervous. Some seem to be hedging their bets. Hard to really pen to paper and quantify that, whether they will withdraw support as the campaign ensues, what do you think . What is going on behind the scenes . I think they are worried but, lets face it, joe biden has something very big going for him. That is his fellow competitors. When the rest of the field on the whole want open borders and wants to End Private Health Insurance in this country, what are donors going to do, there is not another good candidate that can appeal to a wide swath of American Public and transfer money to. Basically most of the polling Elizabeth Warren is the second place frontrunner this is not someone i think a lot of people will appeal to a lot of americans with her call to End Private Health Insurance. Theyre worried. They are concerned. But unless somebody surprisingly enters the race at this point, who like biden, appeals more to the progressive base. Neil im wondering, you talk about a nominee, either party, who can bring people out to vote, because that will make up, for general poll numbers that might not look strong. I mean that was, always a concern for both parties over the many years, but you can go too far. The passion on the left in 1972 was for this guy george mcgovern. Not so much ed muskie, a party stalwart in polls showed a pretty competitive race against president richard nixon. We later learned george mcgovern, popular with progressives in his party, went down to defeat in historical terms unprecedented prior to that. I think they wrestle with that ever since. Who you lover sus who you think will ultimately will win. Right now they still hold joe biden in the latter, someone who can win. I think youre right, neil. It was a striking moment at one of the last debates when Elizabeth Warren complaining about candidates were running to say what things we couldnt done. There were people like john delaney talking how outrageous, how unworkable her proposals were, especially medicare for all. She was complaining about, they didnt seem to be passionate about something. I found criticisms of her very sensible. But in the primary it is a different audience. The progressive base has a lot more sway right now. Honestly the debate performance is one reason joe biden isnt doing worse. If he made the gaffs he made yesterday in iowa, if he did that at a debate, i think that might be a different story. A lot more people are watching. Debate viewership is down from what it was. Recall rick perry, 2012, cycle, he had that big gaffe. He couldnt name the third government agency, department he wanted to shutter. His campaign was basically over after that. So either neil depends, like you say, depends on the moment. People want a smooth runway for a nomination. There is no such thing. It will be a bumpy ride. Kelly jane, thank you very much. Thanks, neil. Neil all right, walmart is pulling violent videogame displace in wake of recent Mass Shootings. Could there be something bigger brewing here youre not hearing now . After this. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. There is sluggish economy at this stage. The longterm is unquestionably negative. But there are positive signs in the short run which suggest that were not about to dip into a recession. Neil that was Alan Greenspan with Maria Bartiromo early this morning, the former fed head saying he does have longterm worries about the debt, all of that. You cant escape that. But for the near term, whatever you want to call near term, he is talking through the 2020 president ial election, there doesnt appear to be recession in sight. Bounce that off Fifth Third Bank chief economist strategist, chief investment strategist i should say. Jeff kornek. Good to have you. Do you agree with what mr. Greenspan is saying . There are long term wore roys that we wont have a recession but there are problems. Neil your problems are slowing down. Slowing down. Neil not necessarily reversing course, but slowing can be psychologically tough to handle. What happens if youre up against the limits of growth which are structurally sub2 in the u. S. Economy, we have poor workforce growth, if we dont have business confidence, we dont have productivity, if were going sub2 opt tim alley, what happens in something goes wrong . You ever wider credit spreads. Youre more vulnerable. Youre more vulnerable in the sense if youre pushing against the limits of the labor force which we are, and now you have undermined capex and productivity gains, if you push too hard against those labor force limits you start to get Wage Inflation that is not offset by productivity gains. Neil are we near that now . Well if you look at say, the atlanta feds wage tracker, it is pushing up towards 4 . That is not worrisome if you grow productivity by 2 f you slow productivity growth, that starts to seep into inflation. That is an intermediate term worry but it is part and parcel of the challenges that american businesses are having attracting labor. Neil all right. A lot are worried about trade, these business guys, even those directly impacted by or do business with china. Its a spillover effect. How do you think that sorts out, especially if there is no deal by even the election . Were already seeing it in our manufacturing customers. Were bankers to the industrial heartland. What were hearing from the small companies, small and mid sighed companies we bank theyre increasingly forced to play defense. Supply chains, decreasing margins, all of that is one more reason they would be unwilling to invest in the long term to that capex so critical to keeping the expansion going and getting it going faster. Neil in the meantime we left it to the fed to bail us out or have the administrations back on trade by continuing to cut Interest Rates. They have taken it as a given well have two more rate cuts. Idea of weakening your currency to match the other weak, pathetic currencies abroad is a bad idea. That worries me. That were chasing our own tail . These fundamentally arent monetary problems but if youre the fed, if all you have is a hammer, every problem looks like a nail and so neil very wellput. That is dangerous path to go on. It could lead us to the european solution which is a nonsolution. Neil am i weird thinking trying to stay ahead of the europeans doing what theyre doing, what theyre doing isnt helping, is a bad idea . Yeah, i mean, it is a case study in failure in many ways and i do believe our fed, from the officials with whom i have spoken dont want to go down that path. Neil they are, though. Markets are forcing that. Theyre inching towards that responding to markets. Neil when the president was mentioning today before hopping on the flight to the hamptons, the rates should be a full percentage point lower, he said that before, what did you think of that . Frankly disagreed because we were in the camp that the fed probably should not have started on this mini easing cycle. The fed likes to think it is 1995 when they had a successful easing cycle. We think it is more like 1966 the previous easing cycle, you didnt extend the Economic Life of the cycle that much longer. You didnt bring down unemployment a little bit. What you did started to unleash Inflationary Forces and the fed lost some control. Neil that was seminal year, if you think about it. 1966 we were piercing, getting closer to 1000 on the dow. We wouldnt convincingly do it until 1985. Collapse of the nifty 50. The fed reaction was in response to the markets which has analogies to today. Neil following the markets, a lot of free marketers, the markets you want to follow them. No. I think the fed, the benefit of the fed is its independence, that means independence from political pressure. Really frankly from market pressure as well. Neil all right, so play this out. Not a regression but a slowdown, from 2 growth what are we looking at . Probably 1 1 2 to 2 kind of growth. The challenge for businesses in this, if youre not going to embrace capex, that kind of commitment, you have to start thinking about workforce issues. Those will not go away even at the end of this cycle. You go back birth rates 20 years ago, were falling dramatically. We wont have workers in the future. At fifth third we became the First Regional Bank to increase our minimum wage to 18 an hour. Neil is that right. It is not a response to tightness. Learning that we have to embrace employees. This will be the new business challenge. We think the new skill set that will be required of next generation business leaders. Neil it could explain too, why you have the least turnover of top financial institutions. Were proud of our employees. Neil treat them well early on. Thank you very, very much, jeff. Very good seeing you. Meantime some fears about high drug prices that could turn to some very dangerous alternatives. This as the administration is writing its own Health Care Plan that might include this very issue, 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 to the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you preorder a new samsung note. Click, call or visit a store today. Neil all right. There are a lot of new worries about the cost of prescriptions as the president is expected to unveil his own Health Care Plan next month. Were told it is in concert with leading republicans. We dont know all the details. We have a associate professor at nyu school of medicine joining us dr. Devi. Im sure i screwed that up, doctor. You got it. Neil very good to have you. Im curious what you make of this, because so much of this will be targeting the price of drugs and trying to deal with the Opioid Crisis at the same time. So they will be sort of conflicting agendas there, but what do you think . There are a lot of policies being suggested, right . Each of them might have some merit and might work, but our biggest problem is the lack of transparency in terms of why the prices are so high right now. So some of the things that are being posed or thrown out there by pharmaceutical companies is that their costs for making things like insulin, livesaving drugs been around a long time are too high if they drop the prices. Is that true or isnt it . Hard to tell because there is not a lot of information out there. I think its probably not true that it is too high just on its face value but on the other hand, if theyre looking at could we spend our resources, spend our time and effort making more expensive patented drugs, versus making generic drugs more affordable maybe they are having an opportunity cost there. Maybe could do more money doing other things. I think as a government whatever we choose to do or as a country, we need to incentivize things, so people get live saving drugs they need at a cost they can afford. Neil do you think it is what the president said, americans pay higher prices for the same drugs available often abroad, by the same Companies Making them at a much or discounted price . I think thats true but there are some caveats. Some of the drugs available abroad might be lower quality than the ones that are here. It might not be the exact same formulation. For example, say insulin, which has been in the news a lot lately, we have perhaps better form, something called recompetent insulin. In other countries they have lower form made from animals still serves the purpose but may not be as high quality. There are differences there. The other thing is looking at Expiration Dates for the medications. If you look at a medication, it will have a Expiration Date where it is not at its full potency if you go past that date. I think some of these medications, even 95 effective, rather than close to 100 effective, still could be used. We wouldnt have as much waste. Maybe people could use something. Neil doctor, good ideas all, well see next week, were supposed to get the first hint what the Administration Want to do. Thank you for joining us. Were well off the lows right now. I dont know what is causing that. I dont overly focus on minute by minute developments. Suffice it to say were down 69 points. E 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 neil all right. There have been a lot of new doubts about if a china trade deal will come to pass. Now growing fears it might not happen before the election. You heard that earlier in the week. They are accelerating now. Ubers problems are now becoming users problems. We will explain how fear of price hikes has really quadrupled ever since we got indications out of ubers report its losing money hand over fist and has to do something to get that money back. Hikes in fares could be a possibility. Also, republican rift with twitter that could impact the social medias bottom line. A lot of republicans, lot of conservatives in general saying no more. We are talking to china. Were not ready to make a deal. What happened and whats happening with china now, we have an open dialogue. Well see whether or not we keep our meeting in september. The biggest problem we have is the fact that a lot of other continents, frankly, but a lot of other countries are not doing well. If the Federal Reserve would bring down Interest Rates over a period of time, i would love to see a point or even a little bit more than that. If they would stop quantitative tightening, we have a rocket ship. Neil all right. The president making clear how he feels about china trade talks, says they might not happen in september. That was something that surprised a few, the fact he was not optimistic they are going to be meeting throwing in that added wrinkle that maybe, maybe the talks that are scheduled to resume in september, dont. And of course the ongoing complaint about the Federal Reserve and how much he hates them. Now, we have Gary Kaltbaum, Lauren Simonetti and last but not least, kat. Welcome to all of you. Lauren, let me get your take on how people are taking the president s comments, obviously he knows hes leading the directives and his directive is maybe we dont get a deal. Maybe we dont talk in september, maybe i could just wait this one out, maybe they are the ones who are going to have to wait it out. What did you make of that . So how long can you wait it out for . What do companies do in the meantime when theres a big question mark riding over what the rules of the game are going to be. Do we just start to move supply chains because thats what we think we should do . How does this end . No one knows. There is zero certainty right now. Very much in a state of flux. I was off earlier this week, monday, when we had that huge tumble, on the beach playing with our kids and family. People were actually talking about the stock market, saying wow. What else do you talk about at the beach . Come on. I couldnt believe it. I was fielding questions. Neil its a small beach. I was off. Leave me alone. Neil you can never escape this stuff. Gary, you were saying a lot of companies have already made adjustments to laurens point, so when we get a deal its going to be a different world, and for china its going to be a different world, for us it will be a different world, for u. S. Companies that do business in this neck of the woods, its a different world. We have a lot of expectations that might not be realized. Neil, five minutes ago the market rallied 150 points because the white house clarified what he said on huawei this morning. We have the greatest roller coasters in orlando. They have nothing on whats going on with the white house and this china deal. We have been talking about this 15 months back and forth from tariffs back off, tariffs back off. We just had the g20, everythings great again, and boom, tariffs again. I think the biggest problem the president has now is i think he would have gotten rid of those 10 but china just gave him the shanghai middle finger, and guess what . I think they are going to keep going after them, going after them. They see them as being weak. I think maybe they are going to stop buying oil from us. Who knows what is next. Neil he sounded very tough there will be no part of this deal, then clarifying it, that its not a dead issue. Its only government thats not going to buy from huawei but regular corporations can. That just came out 150 dow points before. Neil you answered that for me. Im wondering in this environment, now you are hearing about the hong kong airport is all but closed because getting in and out of there with protesters, the whole weekend, thats another thing that makes traveling to that region such a risk. Yeah, absolutely. Its a mess. I have a friend down there who is covering it right now. It is a mess. But i think that President Trump likes to really highlight the ways that things are not going as well for china as they had been in the past which is true but he completely ignores the way its negatively affected things here. He always says china is paying for these tariffs. Thats just factually not true. The amount of money we have gotten from these tariffs arent even enough to pay for the farmer bailout, let alone all the other industries and businesses that have been impacted. Its a mess over there but its negatively affecting us as well. Neil throughout this environment, the backstop weve had is very accommodative fed. You report it very early in the morning each day and this latest wave is to more or less telegraph additional cuts to come. Whatevers needed to keep the economy afloat. Now, the commensurate kind of impact of that, youd think, would be possibly rushing to refinance, rushing to buy homes. A little bit of activity, tightened up with refi activity. Not to the degree you think. None at all on the housing front. Whats going on . Refi activity last week was up 12 but the problems in the Housing Market are still the problems in the Housing Market. That is inventory, dont have a lot of it, and also, this overall concern about where the economy would be headed. Back end of last year, Mortgage Rates were near 5 . Now theyre the 30year fixed is 3. 6 . But were not seeing people pour into the Housing Market. Its also christmas is over. The spring selling season is over. We might not see [ inaudible ] because of the inventory issues. Prices are at record highs. Its all about affordability. If prices were much lower, the Housing Market would skyrocket. Neil how does the market look in orlando . Decent but not fabulous. I can tell you the high end down in south florida, heading down, lot of high end areas across the country heading down. Normally when i watch neil is that a price issue . I believe so. When i watch the housing stocks, every time rates come down, used to be housing stocks skyrocket. Now theyre just sitting dead. That tells you everything you need to know right now. I think we are flatlining a little bit here. Neil what do you think . Im a millenial so i just rent because im spending all this money getting avocado toast delivered to my apartment. But interesting the way Interest Rates are, we havent seen more people taking advantage of it but its still early in the game. We have to wait and see. I think millenials are better seated right now than maybe people who are retiring or already retired, because millenials and the ability to pay off debt and whatnot. It depends if those are fixed loans or not. Neil was your generation burnt by the meltdown . I always subscribe to the view what they saw around them, their parents, other relatives, or in some cases, the older end of that millenials themselves dont want to risk that again, dont see the advantage of owning a home versus renting, and that is something thats changed regardless of the china issue and all this other nonsense. Oh, yeah. I think theres a lot of fear because we saw people just completely melting down. People who lost everything. We all know people personally whose parents went through that or whose families went through that, and i know that i am personally terrified to actually buy anything. Even though im wasting so much money on rent. Avocado toast is always a good investment. Neil what is it, though . Someone was saying on one of the shows this morning that older buyers are just like younger bi buyers, they want a smaller house. Theyre not interested in big houses like Gary Kaltbaum. You have to clean it and pay taxes on it. Neil thats whats complicating things. A lot of the Older Americans are looking to downsize a little bit, to keep, if you sell your big house and move into something more affordable, then you have money to play with, but we are talking about china and the effect on the Housing Market. A lot of the Housing Market, the allcash buyer, is and was foreign but its not necessarily china as much as it was. I think thats a good thing for you and millenials, if youre not afraid to buy a home because maybe prices will come down or it might be easier to get a home because youre not competing with all cash. Neil thats what i was asking about florida, because that was drawing and still drawing disgruntled high tax, you know, exiles from these northern states that are saying this is a more taxfriendly state to be in. When it comes to real estate, that doesnt necessarily transcend to a boom, right . Because of overbuilding. Too much supply. Where i live, there are a ton of buildings going up with tons of small, mid and Large Companies coming in and every day, something new, they are building new hospitals now to accommodate for all the people. Were seeing it. When i speak to a lot of people that are moving into my neighborhood, they are coming from, guess what, washington, new york, all these places. Neil because they hear Gary Kaltbaum lives there. Im here. Neil lets take a look, we are down about 116 points here. The president is going to be raising some money today. We are told up to 10 million. That could be for starters. Theres a great deal of fuss over stephen ross, of course, the man behind equinox and soulcycle. Right now, the protesters are saying stop going to equinox, stop going to soulcycle. Not exactly a fair and balanced way to handle things or is it . Is this the kind of pressure the president faces as the campaign ensues . After this. We all feel, we all love, we all cry. Its part of being human. Sonoma county declared a homeless emergency in 2018. You have to know the individuals youre serving to understand their needs. Working with ibm watson we can bring together data spread across dozens of departments. That gives us a fuller view of the people we serve. Dear tech, dear tech, we need to look after everyone in our community. And we want to help our fellow human beings. Neil welcome back dow down 93. Clarifying the president s sort of warpath against huawei and that theyre really not out i wasnt doubting, gary. Im not cutting any slack here. Hes right again, whatever. Meanwhile, republican groups are saying they are going to stop spending to advertise over twitter, over this entire Mitch Mcconnell campaign lockout. You might recall the video they were posting showing protesters gathering outside his home and threatening, so they ended up taking his site down and not the protest e protesters. But lauren, what exactly happened here . Earlier this week, there were protesters and they used profanity and physical threats against neil this was [ inaudible ]. Mitch mcconnell posted that video on twitter, twitter locked his account because the video went against their policies and twitter said okay, if you dont take this down, if you dont delete this, we are going to keep your account locked and locked, it is. The reason that this is getting so much outrage is that he was the victim. He posted a video of things protesters angry with him because he wasnt calling the senate back to act on Gun Legislation thats been passed in the house. He posted the video of him as a victim, yet his accounts locked. Neil now they are upping the ante. They want, a lot of these groups believed connected to him and others, Republican National committee, chairwoman who was with Maria Bartiromo this morning was saying we are going to put the pressure on and maybe find other convenient usvenues message out. I dont blame them. When you think of the reason for twitters rules against threats and violence, its obviously so people dont make threats at other people on the platform. This is obviously, he was a victim, thats not what happened here. He was exposing threats against him. Thats not ever something you should be punished for. I think that its good that the Republican Party and gops kind of being proactive about it rather than just complaining. Neil isnt that inconsistent because theyre against the punishment being meted out on stephen ross, the gazillionaire behind soulcycle, equinox, theyre against the boycott many are saying because of this fundraiser. Thats an inconsistent message, isnt it . First off, the policy on twitter is based on who. There are Death Threats all over the place, people are on there, you got people deemed pretty much terror organizations on there and Mitch Mcconnell puts up a video of somebody threatening his life and his familys life in front of their house, and thats bad . I mean, its yujust complete insanity. Neil did twitter put out a statement on this . That he needs to delete the video. Republican groups and the Donald Trump Campaign pulled back their money. The Trump Campaign just in the month of august was prepared to spend 500,000. Twitter is not going to get that ad revenue. So the money could talk here in the end and we could see politico is reporting there will be some sort of executive action by the president against this sort of thing. What that looks like, we dont know. Im curious to see if that happens, because neil well, applying financial pressure, you can understand. I see it here. But you have to be consistent across the board. You cant complain then when liberals or those left of you are advocating a boycott of these centers owned by a guy who gave money. I just couldnt believe that boycott. Like these people are surprised that the rich people gym that charges 300 a month, theyre surprised the guy who owns that is a capitalist. Neil what do you think of using that lever to get what you want . I think that everyone is welcome to do what they want with their own money. It certainly doesnt bother me. Im a libertarian. My views arent represented in mainstream anything. If i boycotted everyone who disagreed with me, i would never eat or go anywhere. I have kind of got neil you are very thin. I have to grow my own food which is hard in my apartment. Neil avocados. In the next couple weeks we will see more of this, not less. You got an actor out right now blasting the ceo of marvel because he gave 600 grand to trump. Marvel entertainment. 78yearold man who led a great life and philanthropic, all of a sudden hes a bad guy. We will have everybody is a bad guy who gives money to trump. Neil solely because he created the antman character . Got to wonder about that. Neil useless character. We know what happened with castro. I feel like i think im like reading from the onion. Neil heres what i worry about. I dont know if you guys are of this mindset. Say you Say Something impolitic, then someone gets, you know, a fury in their bonnet and starts saying im going to protest any show that laurens on, that kats on, i will raise the next level, boycott any show that has lauren on, kat on, and we have seen it happen on the left, i dont like it when i see it done to msnbc anchors, i dont like it when its fox anchors targeted. If you dont like us, who can imagine, you dont have to watch. I just think using that lever, pulling that lever, is a slippery slope. I completely agree with you. It seems like we are morally inconsistent in the way that it happens. I feel like conservatives are more targeted. I feel like most people would agree with that. Neil fair and balanced, i dont remember people eyeing the businesses of those who gave money to barack obama when he was president in the entertainment field. People didnt stop seeing the movies that their firms created or a host of others. Maybe this is more of a glaring example of this rage against the president. Yeah. Are people really that mad or are they just trying to fit in . I saw so many people, theyre not just not going to soulcycle. They are posting on their instagram stories, im not going to soulcycle, you shouldnt go to soulcycle either. Im like okay, i have never been, im not an activist, im not a hero, do what you want to do. I think its so much more about being cool and accepted, its like the new hip thing to do now. Part of that crowd, imagine if soulcycle drops 15 and they have to get rid of 400 people. Thats the way i look at these things. That is potentially what can happen here. And i think will happen in some situations. Are these Celebrities Making themselves so selfimportant, putting themselves out there, look at me, im against this, im against that, so you love me and go against them, is that what they want . They want to see people actually lose their jobs, because that is what will happen. Neil you have a product or gym or food item you love so much, are you going to let the people who create it and their political alliances affect you . I love chunky monkey ice cream, right . Cherry garcia. Neil i dont really care who the founders are giving money to. I just love their product. End of story. Thats how i feel. But some people apparently do not feel that way. We might see the flipside. We might see people outraged by this, saying leave me alone, im entitled to do what i want with my money. They might support more to President Trump or whoever that person is. Neil thats what this guy says. Stephen rosss case, hes a billionaire, its different, hes not going to be affected by this, his fundraisers just wrapped up in the hamptons with the president , on his way to the second one. His view is i dont care, im going to do this, the companies separately put out statements, he doesnt speak for us and leave it at that. Im wondering if its going to give other company chieftains pause here. We live in a society where we want particularly millenials Want Companies to be very aligned with their own morals. The whole dogood atmosphere out there. In a sense, yes, if i were the head of a company, i would probably give to both sides equally. There are some heads of companies right now that back trump that are on the phones with their people saying okay, just in case something happens, how do you want to answer this. They are on the phone with their critical whatever Care Companies that do this for a living and how to act. Look, in steve rosss case, he got flack from Miami Dolphins players, too. Neil is he the sole owner of the dolphins . Hes the head hofrno. Big cheese. Neil it could affect if he can hire players. If you hate the dolphins, this is a good development. Cuts both ways. They have had not a very good team for awhile. Neil guys, thank you. Stick around because we are kind of dealing with Something Like this with walmart. I will explain after this. Introducing the allnew chevy silverado. With fifty industryfirsts. Its the strongest, most advanced silverado ever. past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Neil the dow down about 77 points. Its a good thing uber is not part of the dow. In one of its more painful days since going public some months back, posting a 5 billion loss. Again, the Financial Community expected a loss. It didnt expect one like this, nor sort of downbeat outlook. Market watcher dave meney on this. What is happening here . The giant block of losses are from stockbased compensation. In my mind, i kind of drag that away because thats about, i mean, its very much about their shareholders but its not about their operations. But they lost neil explain that. They are now in that period, they were able to sort of sell and cash in on their stock essentially, right . Yeah, exactly. But underneath that sits this very big, fat loss. If you lose a billion three in a quarter, you are losing 5 billion a year or thats the pace youre going at. They do have a giant pile of cash, but in my opinion, what it looks like to me after you parse through their statement, they are trying to do a whole lot of things. They are trying to compete with everybody in every category of the mobility space and it appears to me they are not clearly winning in any of those spaces from an investor point of view, and that certainly sets off a lot of flashing danger signals. Neil they say we are building Something Like amazon, it takes awhile to get some money off of them. 37, 22, 20, 14. Last four quarters sales growth year over year. Complete deceleration. Every time a ride occurs they lose about 60 cents. Not a great Business Model as far as im concerned. Neil they would have to increase the cost of the ride. No doubt they are going to have to. I think it will be the revenge of the yellow cab going forward, seriously. Daves right, i just think they are in too many things. They want to be all things to all people. They forgot about their main niche. Neil wouldnt lyft benefit in that environment . Lyft would. Uber is going for scale over profit, obviously. Add some numbers to that. 5. 2 billion lost, 3. 2 billion in revenue. Thats a big difference. How forgiving will investors be. I think more forgiving than we might imagine. I was reading a couple of analysts notes on this. They say look, what they are doing is generational, its amazonesque and it might work out for them in the end as they go for that scale. But as you mentioned, they are trying to do too many things. I was reading about this and one of the things they are going to try to do is add scooters. Like what . Theres never been a problem in my life where im like if only i had a scooter. I just dont think scooters are how you solve problems ever. But they are investing more in their delivery food service which i think is smart because i did use it this morning. I got an egg mcmuffin from uber eats to my house. Neil you are so thin. I eat terribly. Companies like uber and the fake meat company are lucky we are in a bullish market. If we go into a bear market they are going to be cut in half before you can say boo, because in bear markets, the curtains come down and losses, good night irene. Then you cant raise money also. I would be really careful about them right now, valuations are an absolute joke. I think ubers stock should be worth about 15, not 40. I mean that. Neil what do you think of that, dave . Well, look, you know, interesting thing this morning. If you go search for instance, they touted well, we are going, look at the growth in the food delivery segment. If you go search top food delivery apps, you will find that theres a top ten, not that there are only ten competitors, but theres a top ten and they are one of ten. So this idea that we are going to run the table in all of these segments is phenomenally expensive, and many of these other companies are focusing on their one segment because they are trying to compete in scooters and mobility, they trying to compete in food delivery, trying to compete in cargo, trying to compete in airplanes and more focused competitors are nipping at their heels and getting higher in every one of those segments. Thats not a bet i would make. You know the worst stock in the market almost in the last year . Grub hub. Its just a very tough business. Too much competition and they got to fight each other on price. Some of these deliveries cost a ridiculous amount of money. Neil not if you take a scooter. And buy avocados. Neil quick break here. Thank you very much, dave. Meantime, Nbc Universal moving forward this movie about hunting deplorables. I kid you not. Every year a bunch of elites hunt normal folks like us. Where they get you from . Miami. Orlando. 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Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs. Oh, and happy birthday. Or retirement. In advance. Neil walmart is now removing displays of violent video games in the wake of these shootings. Dan henninger from wall street journal says it could be something deeper. Whats going on here, dan . I dont think the video games are really a problem, violent video games. They are part of the corrosion of the culture and its fine by me if walmart wants to push back against that. But lets understand the video games are basically a cartoon or kind of a cartoon shooting gallery. I think that the real problem is the rising incidence of anxiety, neurosis and Mental Illness caused by people immersing themselves daily or even hourly on online forums or factions like College Students who are constantly worrying about texting their relationship with their friends and so forth. There are many articles that appear for instance in the chronicle of Higher Education in recent years about Mental Health clinics on campuses being overwhelmed by visits from students, saying they are suffering from depression. One constant here i think is that people are spending so much time worrying about themselves online and if you push that out to scale along normal anxiety to serious neurosis and real Mental Illness, you get to the point where people like connor betts and the el paso shooter spending time on forums like 8chan, interact withiing with other pe feeding their neurosis about other people and they snap and you end up with the kind of shootings weve had. Its a very toxic atmosphere. Neil while you didnt cite games, a lot of games have streaming online communities who you are playing with online. Thats another wrinkle on the gaming thing. Youre not looking at that as a problem. As an observer, i know games have advanced over the years. They are pretty brutal. I think the latest wave of them outdo certainly earlier versions but thats not what youre concerned about. No, not so concerned about that, although i do think its a problem. No question about that. The level of violence in society. Neil and whats accepted. And whats accepted, reducing it to the cartoon level of these video games, it cannot have a positive effect. But for instance, you had over 40 murders in chicago in june and that is not really being caused by video games. This is being caused by people with, you know, living in conditions where they just sort of feel that the only outlet they have is to go out and start shooting people. So i think when you have individuals like these very troubled young men living online, immersing themselves in chat rooms where they talk to other people, raising this quality of neurosis about enemies, perceived and so forth, it is inevitable some of them are going to snap and go out and start looking for victims. So living your life online hourly the way many young people do has just got to be a path to trouble. Neil you have young kids. As a mom, do you worry about this is the wave of the future . 100 . I worry even more that i dont know what the solution is. And if i can ask dan a question, what do you do about these platforms . You cant deplatform them or cut off their funding or their power because they will just find another way to have a platform. As we talk about social media needing to do something, what is that something that we can do . Yeah. I know. The genie is out of the bottle. Theres nothing we can really do about that. It will be pretty hard to regulate these things. Im talking about young individuals who have become totally inner directed. They disappear into their own minds. I think the solution really is indeed cultural, is finding ways to become more outer directed, getting involved in things, like athletics, like religion even, like organized activities where youre not spending all of your time worrying about yourself, thinking about yourself. The human brain wasnt designed to do that. Its not natural. The natural thing is to be out in the world thinking about other people and somehow the culture has got to take hold of this problem and start pushing these young people out into the world, where they belong. Neil yeah. Im so glad they didnt have this technology when i was a kid. Dan, thank you very, very much. Switching gears a little bit here, i dont want to be remiss in addressing this. Nbc universal, talk about a violent backdrop to everything, is moving forward with a movie about hunting deplorables or those who might like donald trump. It only pushed it back one month. Its still coming out. This is a pretty violent theme here. It was only pushed back in light of these shootings. Yeah. I guess im someone who is always kind of rejected the idea that violent video games or violent movies are going to cause people to commit acts of violence. Japans very violent video games doesnt have a mass shooting problem. I played a lot of mario cart growing up. I dont walk around throwing banana peels everywhere. I think if or avocado skins. If you are going to blame this on the video game or movie, you clearly had some underlying issues and its more about those issues than the gamer movie itself. Neil gary . All i know is as my kids grew up, i watched, saw the video games they were playing, i looked at them like what . Just people blowing up with blood flowing out and prostitutes. Im like okay, hold on a second here. I would try to do something about it and they were on it the next day. It didnt affect them but unfortunately neil its the community. What i was trying to get there with fortnite and some of these other advanced games is that theres a community and you are playing with them. They are like this. Its very, very closeknit. Neil the violence, you might be right, theres no study thats confirming this, but im seeing now in light of whats going on with this movie, thats just pushed back a month, pretty violent, gruesome theme. And its political. Its hypocritical in the sense a lot of people are calling for gun control right now in the wake of these shootings and this is a movie where blue states is the assumption use guns and target red states, and part of the trailer that universal has released, it actually says lets get the deplorables, aka trump supporters, in the red states. Neil imagine if this were the reverse. You say its somewhat hypocritical. It is the definition of hypocritical. The people that are yelling and screaming on gun control are making a movie, going out, shooting the other side in a very volatile political environment, where people are screaming and yelling back at each other, and imagine if it was in reverse. Imagine if it was i cant. Obamaites, they would need paddles in some of those Network Offices for people having strokes over it and veins popping out of their heads. Its a shame. When it comes out, boycott. You just dont go. Neil it will be more popular than ever. Left to right, it gets kind of whacky. Quick break here. The dow has recouped most of its losses. Gary will probably say i told you so. Not allowing him to speak. Meanwhile, President Trump wants to maybe commute Rod Blagojevichs prison sentence. This is the guy who thought it was golden to have the power to select a replacement for then senator barack obama who was campaigning for president and became president. That opportunity landed him in jail. Now this president is apparently poised to get him out. After this. I dont know whats going on. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with Td Ameritrade. 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. past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Neil all right. President trump is indeed considering commuting Rod Blagojevichs sentence. Say that three times fast. We are following all of this. Where does it stand now . Well, the president now getting pushback from members of his own party. Illinois House Republicans put out a statement criticizing the president , basically for considering to free the former democratic governor. Heres part of their statement. Commuting the sentence of Rod Blagojevich, who has a clear and documented record of egregious corruption, sets a dangerous precedent and goes against the trust voters place in elected officials. So President Trump first brought this up about a year ago. Republicans in illinois opposed it then, too, and then the debate reignited wednesday when President Trump made some comments on air force one. He said hes been in jail for seven years over a phone call where nothing happened. He went on to say you have drug dealers who get not even 30 days and they killed 25 people. You may remember Rod Blagojevich was on Celebrity Apprentice in 2010 so thats how the two know each other. Blagojevich has been in prison in colorado since 2012. He was impeached and removed from office in 2009 after that federal investigation in which he was accused of corruption, then convicted on more than a dozen counts including the one where he offered to sell president Barack Obamas now Vacant Senate seat. This is a statement from patty blagojevich, rods wife. She says our president s comments on air force one last night which was wednesday night, make us very hopeful that our almost 11year nightmare might soon be over. We are very grateful. The president is getting some unlikely support from reverend Jesse Jackson as well as his son, who is a former congressman here in illinois. They both sent letters to the president last week asking him to go forward with this commute. Theres no timeline, though, on when or if anything official will happen. Neil . Neil thank you, my friend, very, very much. Again, we should know this fairly soon. In the meantime, the markets are doing something they have done twice before this week, overcoming huge losses from earlier in the day and trying to bounce back into positive territory. The dow now down about 44. Somethings going on here. I will talk to gary about that, lauren and kat about that. Then we will revisit this whole delivery issue that has kat out of sync with most of society because this isnt involving scooters. This involves rerobots delivering our food after this. Introducing the allnew chevy silverado. With fifty industryfirsts. Its the strongest, most advanced silverado ever. From the 5am wakers, to the 6am sleepers. Everyone uses their phone differently and in different places. Thats why Xfinity Mobile created a Wireless Network that auto connects you to millions of secure wifi hot spots. And the best lte everywhere else. Xfinity mobile is a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. Neil all right. We are back to this Delivery Service thing. I immediately thought of kat, thinking of scooters and all the overcharging that goes on. I dont know how amazon will deal with this. Right now we are told it is testing a robotic delivery program. Guess where, in southern california. What do you think of that . Robot delivery . I think its great. Im not ordering food to my apartment because i want to interact with other humans. First of all. So that takes that out of the equation. Also, its great for the company because if you see people fight for 15, robots not going to fight for 15. You dont got to pay for a robot at all. You dont got to give a robot health insurance. You dont got to give a robot time off to go to his nieces christening or whatever. R robots, people who are in low skilled jobs should be concerned. I would be. Neil would you tip the robot . No, you dont got to tip the robot. You got 15 minutes of standup on this subject. Neil you do. You do. Lauren, that puts you in a conundrum, right . What do you do . Well, they take up some sidewalk space, these are robots that are pretty wide that go down the sidewalk. Its kind of annoying. I kind of like it because it takes the cars and vans off the road and i feel like theres traffic everywhere. Neil if its a walkup if its a walkup, thats tough. You probably have to make robots with knees. What about the cars and the people that cant see the little robot on the ground as they drive . You dont drive into a driveway on the sidewalk . Listen, i always say neil you sound like a luddite. I have to ask what could go wrong with little robots visiting your house and kids in the street with little bb guns and Little Things like that. Neil they didnt see 2001 space odyssey. Say you live in an Apartment Building so you have to go put in a code and get your order. It would be take mine and take hers, too. Neil would you go to the lobby . Got to come to my door. Im not going to the lobby. Are we ever going to do anything, anymore . I hope not. Will everybody do everything for us . I certainly hope not. Neil there is some other news. I dont know if this is good or bad. Any vegans here . Burger king is introducing a plantbased impossible whopper. They already tested this thing. It tasted so good. Got a lot of sodium. Neil is that right . Yes. Neil i didnt know if its more calories but you would not know. Im wondering where you think this whole stuff is going. I think its a fad. Neil you do . I may get beaten up for that. I think the market isnt just vegetarians and vegans. Its also people like me who want to eat less meat because its more healthy but i still love meat and im probably going to take a juicy burger over a plantbased burger. Neil i dont know what they are using to imitate the juicy burger. They have even got that down. You liked it . Neil i was surprised, too. I liked it, too. It was peas and soy or something. Neil its all Natural Ingredients but its all combined together to give you this just like beef feeling, texture, taste, which it does. It does. Im a little disappointed we arent getting any on set. Last time we talked about this, we got some on set. Im disappointed. Neil high whining content. I am a millenial. What do you think we do all day . Neil you think this is going to come and go . Only reason i disagree with that, this changed the dynamics of this, when you have these alternatives, they really do taste awful and this didnt. There is a big following right now for it. But its what you said, sometimes when you go the healthier route, you are packing what you eat with neil hes a food elitist. Other chemical, if you will. They will have many more applications for this. It will continue to grow. Then its going to level off. Then its going to sink again. Its not a fad that will be here forever but its not going to be this big gigantic changing the world type thing. Simple as that. I remember in 91, Outback Steakhouse came public and somebody did an article saying nobody is going to eat meat anymore, the stocks going to zero. People love meat. Neil i agree with all that. But if you have an alternative that tastes just like it. It does. The veggie burgers of the past tasted like wet bean envelopes and this tastes exactly like meat. Neil take it from the vegan. All right, guys, i want to thank you. You did a great job, all of you. You are going to be on bulls bears later on. Great seeing you. Lauren, you worked a very long day. Always good. Kat, love the humor. Keep bringing it to us. Deal with the scooter issue. Progress. You have to deal with that. A lot more coming up. The dow down about 37 points or so. Its making another attempt to do something its done at least twice before this week, overcome a very rough start. I dont know what that signals. More after this. Let me ask you something. 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 . E. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums neil all right. Welcome back, everyone. The dow is down 54 point. Still those sensitive to what can happen in china, are taking it on the chin. Not across the board but it is noteworthy here we are with two hours to go, the markets clawing back from lows. Charles payne, i have seen that twice before. Have you . Charles microcosm of the week. The resolve of the market, whether speculation or earnings, it has shown a real ability to come back, hasnt it . Neil you called it early, my friend. Charles good afternoon, everyone, im charles payne. This is making money. Stocks are lower. There is sort of a calm as investors consider everything this week. News, speculation, of course the wild swings. I will tell you what i think the message of the market is right now. The President Trump blasting the strong dollar and blaming the fed. Well talk to perennial fed critic ron paul. We have that