Value is no longer the main focus of some of americas top business leaders. Hi, everybody im david asman. Thank you for joining me, joining me on on the panel is jonathan hoenig, christina partsinevelos, Gary Kaltbaum and liz peek. So the Business Roundtable is comprised of 200 ceos from major u. S. Businesses dropping the ageold notion that corporations function first and foremost is to serve their shareholders, and maximize profits. Jpmorgan Ceo Jamie Dimon leading the reimaged ideas stating, the American Dream is alive but fray ing, and all is happening amid a growing National Debate about the responsibilities of corporations, so is all this just a pr stunt . This is a terrible move, david. Its really the sanction of a victim and these companies are the victims here. Where is this all coming from here . Not the companies but the leftist professors. This is this whole notion of stakeholder value. Its not the shareholders that own the company. Its the stakeholders who is everyone. Literally the guy that delivers the paper to the employees, to the environment, to the government, so this is a way to weaken Property Rights and also as youll see down the line there will be more regulations and everything from ceo pay to the type of environmental damage im so sorry to see the business round table and all these successful ceos sanction this type of you know what. Jonathan nice new look by the way. Two points first one i think maybe theres been an increase in arguments between shareholder s and managers that could be propelling this type of movement and the second thing is increase and focus on sustainability and impacted investing. You have more and more Companies Creating executive positions for sustainability, and so people and this round table maybe say theyre caring more about the environment and everything around it as opposed to just maximizing shareholder profits so this could be part of a growing trend and even make the comparison to Climate Change and they talk about the environment the fact that were talking a lot about it more with politicians because it votes well. I would also argue that the big Business Community, corporate america, has lost its political grounding a little bit it used to be that Establishment Republicans whoever was a republican president , for example, was totally in the corner of the business round table and other large Multi National corporations. That really has changed and i dont think its gotten the attention that it deserves in the political analysis world but donald trump is not a big fan of big business, because he is actually trying to confront their involvement with china, and other countries where they pay lower wages so his big pitch is hes really trying to help workers and i think this group of companies has sort of adrift politically and trying to fasten on to increasing public opinion, Getting Better place in the world, because they need that right now. Okay theres only one thing going on here. It is the preparation, the just in case the Bernie Sanders or Elizabeth Warren types win the white house. They crush business and big business on a daily basis. They call big business corrupt and how they cheat and steal and rob and hurt their employees, when all theyve ever done is produce wealth and jobs, so they had to get in front of it. I actually dont blame them for doing some of this but i have to tell you im in orlando. Companies like disney and darden and tupperware, universal, Lockheed Martin they are the greatest Philanthropic Companies youll ever find that are always doing great things for the community and children and you name it. They are all going green all doing the things. You dont need the business round table to do all of this, but i get it. David ive got to say theres one bottom line here, which i think youre absolutely right. They are hedging their bets, but absolutely. David but to say theyve never done anything right now im all for the free market but you look at the banks themselves. Look at what happened to society when the banks overleveraged themselves tremendously in 2005, 2006, 2007 hear me out jonathan, you do that ruined the trust and a trust is a very important part of the banks business without trust, we cannot have a Financial Institution in the United States. They let us down and part of the reason, hold on let me finish. Part of the reason why this is coming first and foremost by james foley is because hes part of the banking institution. Hes the most respected banker and they have to, they have to make amends for what they did back in the early 2000. I would argue exporting jobs is just as unpopular as having basically brought on the financial crisis. I think thats something this country is very aware of. Everybody talks about it now. It was something nobody talked about before. Your turn jonathan. Let me point out this whole notion david that you seem to suggest the big banks cause a financial crisis . David i didnt say that. Did i say that . I never said that. You know that i dont feel that way. I second that too, jonathan. He didnt say that but what about ceo pay . Dont you think theres a large or increasing discrepancy between how much theyre making . Im sorry . It all comes down to this point of who owns the company and gary is right. Elizabeth warren is the proto typical type of professor whose been ex powsing this for decades and decades on college campuses. This is why its popular and why christina youre going to see votes on everything, ceo pay to environmental waste, and it ends up being a major expense. To jonathans point we have had an example in the past of someone with a dual mandate it was the gses if you remember freddie mac and fannie mae and they got completely scrambled because they didnt know what their objectives were. Government entities. Let me just say serenity now , first off, but lets talk about the shareholders who have made so much money throughout the dow started at one, its now 26,000, so something on wall street has been going right, forever. Not wrong, and yeah, theres been some outlier events and yeah, people pay the price, but the majority of corporations just go to work every day and do the right thing. Im so tired of hearing how theyre so bad and thats what the Bernie Sanders is. What about affordability . I know were just going to wrap up and im not saying capitalism is bad but what about the growing increase people complaining they cant afford anything and that brings up the discrepancy as ceo pay but one point to jonathans comment in school its true during my mba program they highlighted they are a school that focus on impacting investing that really pushed that through the Education System there. David by the way can government do it better . No. On that, you and i and jonathan and gary are absolutely in Union President trump slamming democrats and the Mainstream Media for soaking fears of an impending recession when he says the economy is very strong. Does he have a point . We will debate that, coming next its nice to see the media finally cover the trump economy. They seem to cover it only when you can use the second word of the day recession. Hmm. Exactly. 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Lease the gla 250 suv for just 329 a month with credit toward your first months payment at the mercedesbenz summer event. Mercedesbenz. The best or nothing. President trump i dont think were having a recession. Were doing tremendously well. Our consumers are rich, i gave a tremendous tax cut and theyre loaded up with money. David President Trump and members of his administration pushing back on recession fears that he says are driven by the democrats, tweeting this out earlier. Our economy is very strong, despite the horrendous lack of vision by jay powell and the fed , but the democrats are trying to will the economy to be bad, for purposes of the 2020 election. Our dollar is so strong that it is sadly hurting other parts of the world so does he have a point . Liz are we being talked into a recession . Yes, i think we are and theres no question the manufacturing sector, the industrial sector in this country has slowed down, the consumer still is very strong and theres no sign of a recession. I have read every Economic Forecast out there in the last 4872 hours. What about the inverted yield curve . Yes, it would be an inverted yield curve which generally speaking on average takes six to eight months to translate into a slow down but most people are looking at this inverted yield curve and saying no, it is no longer a predictor including janet yellen a whole lot of other people and i think as long as the consumer stays positive and positive is the word because the liberal media is attacking the economy so aggressively that theyre casting doubt on people s spending and Everything Else and that is the one thing that could actually slow us down in my view. Im sorry, you cant talk your way into a recession. You sure can, gary. Hold on. Let me finish. Let me finish. All right but you can tariff your way into a recession , and yes, what youre seeing i speak to companies all the time and theyre worried about it and worried the uncertainty of going back and forth with the tariff and i must tell you with the president right now, he is worried. Thats why he is jaw boning the fed to lower rates by a whole percentage point and print money again and now were hearing late in the day they want a payroll tax cut but unfortunately, with the house run by the dems they couldnt pass wind right now let alone a tax cut. [laughter] gary do you not think our Interest Rates are higher than they should be given whats going on around the world . The fed is always behind, i agree but ive got news for you rates are already down, they would just be playing catchup, and they cant help the economy. They can only help the markets right now. They could help the dollar. Which is why the fed should be focused. The dollar should be strong and should focus on data and if were saying that the economy is doing well then we shouldnt be talking about the Federal Reserve cutting Interest Rates any time in the near future and to jonathans point about the yield curve in version you can possibly say it was overstated given its predictive powers are overstated given how many Central Banks have been infusing money into the economies around the globe. Times have changed. David with negative Interest Rates. We have a new norm however on the flip side there are arguments. Look at the wall street journal rv sales are a good predictor of a looming recession going forward. David the rv index. Recreational vehicles down 20 , maybe you can find reports and arguments. Thats what sales are doing. There are indications, you know, look and neil cavuto always says its not red or blue its green so take the politics out of it for just a second. This notion gary says you can talk yourself into a recession. This is classic consciousness. Its all in your head. Its not it actually exists in reality and theres really quite a few indicators of a slowing economy, globally, plunging yields. David well globally its happening. Globally we have germany and the uk already reporting negative first quarters, if they have two of those, thats a classic definition of a recession, so we could have a recession in europe we already are effected by their negative Interest Rates. We are not an island, but we are a strong economy. Im just wondering how much longer before the effects of the outside world hit us. Can i just say we are a stronger economy. David gary, gary, in our lifetime weve never seen a jobs market like this. Listen im not arguing the point but what im saying is we are now in slow down mode in so many places in the United States , in manufacturing, and others, and lets not forget what ive been talking about forever. The massive debt and deficits are a head wind and one day will come back and there will be repercussions and i do believe what happens around the globe does effect here, i dont think were immune so im watching closely at this point. Look i think the biggest negative we have right now is the pessimism in the Business Community and i agree with gary that the negativity of the obama regulatory tsunami that went on for eight years has now become the uncertainty about tariffs and about trade, but it is only the industrial sector and it is only slowing its not going negative yet, but i think its the consumer we have to watch and what im hearing from people who serve in it like esi, the economist group, is that in fact backtoschool sales and other measures retail is great. Right now coincidentally, not last quarter are doing extremely well. The Retail Stocks fyi are not great theyve gotten decimated. David last weeks retail sales were terrific. The real retail stock, david , thats why i always say you got to watch the market. They didnt call the recession in 2001 up until the market had been plunging for a year. David thats true. Same thing the market started falling in 2007 we called a recession in 2009. Watch the dow. One quick thing capital expenditureses were expecting that the to decrease and thats concerning. Why arent we investing in employees who dont have good quality. David by the way just remember its only 11 months ago when we had a 25year high for capital expenditures, 11 months, so we could get back but youre right it is slowing down a bit here. Big tech railing against what appears to be a cash grab from france, in the form of a new tax , just what we need, right . President trump considering retaliation, so how should we respond . Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. 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At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. David tech leaders are sound ing off in a big way at the u. S. Trade reps office today, testifying against a new french tax that they claim unfairly targets them. Hillary vaughn is standing by outside the trade office, hillary youre right in the middle of everything, were dying to know because were thinking about retaliation. What besides wine im wondering might they retaliate against for the french . Thats really up in the air. The commenting period ends a week from today and thats when you could really see the u. S. Rollout retaliatory action whatever that looks like we dont know yet but what we did hear today was u. S. Firms tell the u. S. Trade representative that not only could this tax be passed down to users in france but it also could have larger implications for the industry. Google is saying this in his testimony today. This is a concern for International Trade and the wider economy of countries followed the model and select specific sectors and groups of Foreign Companies for targeted tax policies. This new tax means that more data will have to be collected on users, specific to their location, and their actions online, which could raise more questions about privacy and if the government would then have access to that information through an audit and amazon testified they have not been collecting the data they would need to figure out how much they actually owe france through this dst tax or how much revenue they are french users bring the company as a whole. Facebook says that the tax requires a mass reengineering effort at the company to track and filter revenue by a users geolocation or their ip address. This is a discriminatory retroactive tax thats been gerrymandered to specifically single out successful u. S. Technology services that are very popular in the french marketplace. The objective is for french authorities to increase their tax base at the expense of u. S. Firms. The u. S. Tech Companies Like facebook, google and amazon have to make their first payment to france in november but whats up in the air here is they dont have the system they need to calculate how much money they owe france and a lot of the data they need to figure that out. Also may not exist. David . David hillary thank you very much so is this new tax worth another trade war . You can look at this from two perspectives. The one is up and this is brought up by the finance minister in france saying its unfair that a Corporation Like amazon pays less tax than a large bakery in i think that creates a real problem so there is one side the large corporations getting away with hiding their money and the second side is maybe this is a movement to appease the voters because it could resonate quite well. Oh, look its just a money grab. There are very few companies that really satisfy the requirements for this tax and almost all americans are Tech Companies, and to your point Tech Companies generally have done a good job of hiding profits not paying income taxes in a lot of countries. This one though in france is going to hurt thousands of small sellers, because amazon is passing on the 3 to those companies, its a very smart political move because im assuming all of those companies will be a big sort of Public Interest story that some lady is crocheting baby clothes all of a sudden goes out of business or something but look, this is the approach to taxation. These guys have money and france wants it. David jonathan, go ahead. Go for it, baby. France is a terrible place lets just put out there. Whoa, whoa. Whoa. France has youth unemployment of 20 for years and years and years, here in the United States, its 8 and its because of their ideas. This has been the classic entitlement state, big caltech big spending Big Government and we see theres rioting on the streets for weeks and weeks and weeks what we should do to combat this david here in the states is not tax french wine. Thats what i dont get here. The answer to an entitlement state in europe isnt to make america a high tax state but really to make America Great again get rid of all of those taxes and the notion of taxing french wine that americans want to buy to get back at france just cut taxes for america. Make this a free country, a low tax country and business will prosper. Local businesses will be very angry. Think of all of the people in california thinking oh, gosh these wines from france is so cheap they takeaway from my business. Reagan once said something to the effect of if it moves and breathes it gets taxed, and france is famous, theres not a tax hike they dont like and not a tax cut they do like and this is nothing new and correct me if im wrong this is on sales not just profit. David thats correct. And already amazon is raising prices on the french so who pays the french people pay for the stupidity of the government. What else . David and if you want less of something you tax it so since this is a tax on sales they will have less commerce. They will have less sales. Their economies already slowing, its going to go into the dumps if they do this. Well and i think the french government probably thought there was no cost to this tax in a sense that whose paying it, the Tech Companies in america and im sure its quite popular but again amazon turned the tables on them. David well garys lights just went on so lets move on. The politically explosive clash between israel and democrat congresswoman Rashida Tlaib and illham omar intensified today as the two members of the squad held a News Conference that just ended moments ago. Israeli ambassador to the United Nations danny dannon joins us next in an exclusive interview with his reaction to what the two congresswoman and Top Democrats are now threatening to do about israels actions. Its unfortunate that Prime MinisterBenjamin Netanyahu has apparently take taken a page out of trumps book and a direction from trump to deny this opportunity. My insurance rates are probably gonna double. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . What might seem like a small cough can be a big bad problem for your grandchildren. Babies too young to be vaccinated against whooping cough are the most at risk for severe illness. Help prevent this talk to your doctor or pharmacist today about getting vaccinated against whooping cough. We give israel more than 3 million in aid every year, but denying business to duly elected members of congress is not consistent with being an allie. It is unfortunate that Prime Minister has apparently taken a page out of trumps book, and even just direction from trump to deny this opportunity, and yes, while folks are shocked that this happened to us, but today we will hear from folks who help show the reality for many, who have been barred from going into israel. David democrat congresswoman Rashida Tlaib and illham omar just wrapping up a News Conference addressing israels decision to deny them entry into the country because of their support for the boycott divest ment and sanctions movement against israel. Its known as bds. Its the first time the two congresswoman have addressed the ban in public and theres been a lot of pushback recently including this from hbo host bill maher. Listen. Its a test, bds is a purity test, by people who want to appear woke but actually slept through history class, as if the occupation came right out of the blue, that this completely peaceful people found themselves occupied. David well now the congresswoman want to boycott ma her, so are they gaining or losing support for their cause . Hopefully, losing. Look i had no idea antisemitism can do standup comedy. The first time i went to israel, seven out of the 10 days i was there, we had rockets going overhead, we had to run out of the market because of it and that was coming from the palestinian leadership just next door. Thats whats causing the problems there. They plunder all of the assets, all of the money they keep their people down, israel is one of the greatest places on earth. We have muslims, jews, christians, every race, creed, color, gender, live, play, and work side by side. This was an absolute joke and im at hopes the Democratic Party says no to this but im not so sure. I mean its almost bewildering gary to your point israel is the most open pluralistic protective of free speech, the property, capitalism , in the entire middle east. Their neighbors are the ones who stone adulters and throw homosexuals off buildings. They are savage and tribal and to your point maybe the best thing would have been to let these Congress People visit the middle east and visit israel. Everyone should visit israel and just see what a little bit of freedom and capitalism can do with it really ugliness. David there is another layer to all of this. There are new reports out some senior House Democrats may be weighing legislative action against u. S. Ambassador to israel David Friedman and israel s ambassador to washington, ron dermer, as retaliation against israels band lets bring in the ambassador to the United Nations , danny dannon for an exclusive interview. So how would israel respond to some kind of congressional sanction . Well were very proud of it. We welcome every american to come and visit israel and by the way last week we had more than 70 common who came in with a bipartisan delegation, but what happened here we saw two representatives and i would call them santa fe i semites and when you look at the history, the tweet, they are antisemites. They tried to come to israel to instigate, to create provocation and we can say no. The u. S. Would be the same in the past when you add other leaders from other countries wanted to come and create provocation in the u. S. So we are saying its not about democrat or republicans. Those two representatives should be isolated. Should be condemned by democrats , and republicans, and if you talk about democrats and republicans, we value the bipartisan support of both parties. David but ambassador very quickly you didnt answer my question. If there is a sanction by the u. S. Congress against israel how would you deal with that . Im worried about that we have many friends and support in congress and in the democratic policy and i dont agree with what those congresswoman are saying, what they are doing. This is not the Democratic Party this is an extreme radical congresswoman and they should be isolated. Ambassador one of the reasons they were not let in presumably is because the meetings they were not going to be attending the meetings with israeli officials. At least thats what weve read is that the case that basically they had sort of laid out a trip that was going to be very sort of politically charged . Absolutely and look who invited them. An organization invited them to come to a radical Extremist Organization antisemitism id and connection to terrorist organization, so once we learn about who is inviting them we saw the itinerary and wanted to create it there and we said no thank you. You can do the provocation here in the u. S. , but not in the middle east. Ambassador youre bringing up harsh words further adding to this polarization and if we take politics out of the game both gary and jonathan brought it up about free speech and being a democracy. Isnt this just taking away from your image on the International Stage . So there was a debate in israel. Many people say we should have allowed them to come in, meet the people, look at the history, maybe they will learn something because you can tell they dont know the history, with tweets and facebook pages. A few tweets i dont think you can come to that conclusion. Well you see what they say i dont think they are that knowledgeable about the middle east. They are inciting against israel , about the jews in the u. S. , so yes, some people allowed them to come in in israel but when we talk about the provocation what can happen if we create provocation in israel, we decided not to allow them to come in and it was not an easy decision for us, because today every american can fly to israel and we welcome everybody to come. Can i just add one thing . I notice that these two women today did not mention that the Palestinian Authority banned lgbtq activities in the west bank because it says it hurts their whatever they do over there. So all this talk about israel and youve been right, they may need to look into their own house before they start commenting on others at this point in time. Yes. Ambassador how is this being played out in terms of the election coming up in israel . Its not a major issue in israel. To those representatives, and people coming against us, take england for example. You have been living on the opposition, who is also an antisemitism id who speaks to boycott israel, so we are unfortunately were used to it. Its unfortunate that its coming now to the u. S. We saw it in europe for many years and now unfortunately we sigh it also coming here. David jonathan go ahead. Quickly ambassador thank you for being with us. Whether or not these people were let in how should americans who want to fight bds approach it . How should they address it and fight these ideas here at home . So i think we do have the support and we spoke about the congress and the Congress Passed legislation, condemning bds, so i think the more we see the deflation at the state level the more we have the boycott israel, the u. S. Will boycott the boycotters that is very effective and we do have the support in the u. S. David by the way bds wants a palestinian state from the river to the sea. Anybody whose seen a map knows that that completely excludes israel. What happens to israel if they get their wish . We are not here to try it. We have what we want to achievement we are here to stay and when we have a dialogue with Muslim Leaders and we speak about the future and not these people who call us to go back. David ambassador thank you very much for being here. Thank you very much. David well the homeless crisis in california is spiraling out of control and residents there are blaming city officials and failed liberal policies that have turned the problem into a major nightmare. A live report from la coming next. We trust usaa more than any other company out there. They give us excellent customer service, every time. Our 18 year old was in an accident. 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. David los angeles residents are now demanding change from city officials who they say talk the game but fail to deliver. The homelessness situation is spiraling out of control, with the city now facing a human waste crisis. Fox news william la jeunesse has been following the story. William the details arent very pleasant but they are very important. Reporter yeah, and its actually statewide, david. Homelessness isnt new to california but what theyre leaving behind is, and getting worse. In san francisco, last year, the city received 27,000 requests to pick up human waste. Residents now upload photos to alert the poop patrol, six cities employees paid 70,000 each a year to cleanup fecies. Also a website, shows excrement and used needles and this map shows complaints over eight years and in november voters approved a new tax there helping add 23 new mobile bathrooms and in may officials received 50,000 flushes, and thats progress but in nearby sacramento this woman had a message for governor gavin newsom. Ive been broken into, ive had my glass broken, i cleanup human excrement off my doorstep every week, cups of urine. Newsom recently blamed san franciscos homeless problem on texas transplants, and claim thoroughly debunked by statistics but finger pointing isnt new on this issue. Osha recently fined the city of la for unsanitary working conditions for failing to cleanup human waste near city hall, carrying pathogens that many claim city of officials, Police Officers maying them sick but officials downplayed that report so thanks to a recent Court Decision david cities here cannot remove the homeless from public property or cite them for camping illegally unless it provides shelter first, and thats something that the city and state hasnt done with 120,000 maybe 150,000 homeless here, not going to happen. Back to you. David william thank you very much. Well the state fails to tackle the waste issue san franciscos cracking down on plastic Water Bottles with the International Airport becoming the first airport to ban them starting tomorrow, but shouldnt the city be more focused on this waste and homeless problem which has become a direct threat to Public Health and safety . Yeah, the important things in life, Water Bottles at an airport. You know, its amazing when you can fillet couple of rose bowls with the homeless in california right now, and you know when i started seeing videos a few months back, i called some friends that lived in different parts of california and they all said yeah and its getting worse , and it is just amazing to me that the california, that is bashed enough, oh, we take care of our own, just sits and literally does nothing for these people who for whatever reason fell through the cracks. They keep telling us how much money they have and how theyre over budget and everything is great yet they absolutely do nothing and now youve got diseases, all kinds of worries and look theyre hiring people to cleanup, im not going to use the word. Its almost heartbreaking. It is heartbreaking at this point in time. I think that at this point if youre banning plastic bottle s its not really going to change the homeless situation. I think the airport wants to be the first zero waste airport by 2021 they already got rid of single use use utensils back in march. Shouldnt you get the waste off the street first . Regardless, i dont think, even if they werent doing this i dont think they would be focusing their attention on the poop thats on the street. I mean, thats whats so irritating is its going through the motions doing something that look, i think actually, its time to get rid of plastic Water Bottles i dont have an issue with that although id say being on an airplane is one of the few times where people need them because theres such dehydration but california is a mess and all that going along with current popular things like getting rid of Water Bottles and Plastic Straws and not addressing big profound heartbreaking issues i think its appalling and i dont see anything to change. And a lot of our issues were selfcaused for example, a lot of the homeless crisis is caused by building practices that restrict, you know, areas that you can actually build for example, but california has two things going for it, the weather , obviously and silicon valley. Once they depart, david then you should get nervous but look the bay area itself is the worlds 19 largest economy. So as long as those people stay there, theyre funding it all once they start the camp for texas or florida. Jonathan do you know whats really discouraging is everything they do for middle class middle income people, you know they raise Energy Prices and they have the highest in the country. They put in all these taxes, they dont allow you to build affordable housing. It all hurts people with modest income, and its a wildly democratic state. Someone should learn something. David the richest people can always put up higher walls, higher fences, which they are doing in los angeles and san francisco, keep out the homeless , keep out the poop control squad and you know it sounds like a joke but they do have typhoid fever now in los angeles. That is a sign of the lack of civilized culture when you begin to have that. Thats literally whats happening there. We wish them the best though. Canceling student debt is high on the list of many 2020 dems, but could it actually hurt our economy . Well have more on that, right after this. In my line of work, i come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. So noto 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. David all is forgiven 2020 democrats like Elizabeth Warren has the idea of getting rid of Student Loan Debt, but a new survey finds that more than half of business economists say definitely all or even a majority of this debt would have a negative impact on the economy , so are they right . Could forgiving 1. 6 trillion in Student Loan Debt back fire . Three points. One it doesnt address the major issue as to why tuition is so expensive. The second point is its unfair because what about those that have housing debtor other particular kinds of debt. Why are we just wiping it out and the third point is that a student has chosen, myself for example, i chose to incur those costs, the high debt Level Society shouldnt have to pay for my choices. Wow i am shocked im surprised im delighted christina. Is that the real christina partsinevelos . I cant believe it. [laughter] because ive gone through this. I fit this category to a tee. I live in a major metropolitan city. The apartments are so expensive i found a cockroach. Ave thats just one possibility. David the first rule of economic s david there is no such thing as a free lunch. You cant just wave a magic wand and poof it disappears. Things are tremendously disruptive to the Global Economic system and they are inflationary and to christinas point they create a moral hazard when everyone says what about my debt . I want it taken care of as well. The real issue, why are people graduating with 50,000 in student debt, where its just 20 years ago they graduated with 15,000 or less. And by the way studies, forgive me, have shown that people who go to college do earn more money than people who dont , so presumably, were given the debt of people who are going to be over time earning more than average americans, they can afford to pay off this debt. Weve done stories about this, where people said oh, they had to stop going out to dinner four times a week in order to make their payments on their student debt. Maybe expectations were a little too high in terms of the lifestyle you can live while paying off your debt and trying to make your way in the world as you just come out of school. A few weeks ago i read a story about somebody who took on 200,000 of education debt, with a sociology major. Now, i have nothing against a sociology major but when the lenders are giving out that much money there inlies the problem right there and look theres three words that come to mind here by these people that want to do this. Redistribution of wealth. They will come up with anything. They will screw contract law. People cosign on the dotted line to take out these loans, but no that doesnt matter, so lets just give everything back, everything free, and just take it from one and give it to the other. Doesnt help anybody. Whoa i cant believe you just brought up that the lenders should be picking and discriminating against certain fields of education. I think thats completely wrong. David but if youre spending 200,000 for a sociology degree, come on, christina. Its not worth it is it . Christina . Who are we to judge . David i as a taxpayer am going to have to pay that back i think we do have something to say about it right . Im not going to get an auto loan for 100,000 on a 25,000 car. Thats whats happening in this. Are you going to say no i dont know how old your children are but if they wanted to study that would you say no . I am not talking about my kids im talking about people that may or may not be able to afford paying it back something called responsibility in all this. But thats the problem really with Student Lending is theres no rationale to it no cost benefit analysis. Every degree is treated as equally valuable and guess what folks they are not and in fact they have a lot of data to prove that. They call it malinvestment we should keep in mind when talking about lowering artificial intelligence, to gary s point people get a great Interest Rate on a degree. David what i loved about that segment we began with jonathan and christina totally agreeing with each other. It didnt last. Well youve heard of meat less meat, right . Well how about eggless eggs . One Major Grocery chain is taking a crack at it. Whoa will consumers buy in . Its a shell game all Money Managers might seem the same, but some give their clients cookie cutter portfolios. 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There are new Cyber Threats out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv david some are investing in plantbased pro teens as a substitute for animal products. Eggless eggs. Despite the name, it has no egg inside. Its made from plant based and coulandcanola. Could eggless eggs be the next craze. Mung bean protein. Just those words. Sign felseinfeld should be on t. Because they could do a segment on everything being fake. We are going the wrong way. If people want things that are not animal based, thats fine. If there is a group out there that eats mung bean protein. Its horrendous what they are putting into these products. Im betting in the near future they are going to get sued because they have the word egg on their product. In 1968 there was a book written called the population bomb. Look at america. We are creating new foods. Literally dreaming it up. Liz markets kicking off the market in rally mode after a threeweek losing streak. The president heads to the g7 meeting as he faces a world in turmoil. While the United States is economically strong, Vice President mike pence is warning chain and on the hong kong protests. The media moving on from russian to racism and now recession