Transcripts For FBC Mornings With Maria Bartiromo 20240714

Partner Mitch Roschelle and jessica and chief strategist david, welcome one and all. Good morning. Jeff, already on the way to the polls. [laughter] dagen we got another poll the quinnipiac comes out. Fantastic, bring it on. Dagen we talk about polls because its interesting, thats why. Also on deck attorney general from the state of North Carolina jack to talk about the states concerns over vaping and what North Carolina is doing, partner to talk china, pennsylvania congressman and member of house labor to veteran affairs and chief of staff to Vice President mike pence marc short on trade and former fed official wrote the resistance among former fed officials, i will leave it at that. Lets look at futures, 44point gain, gains across at the moment amid more uncertainty of any trade deal between United States and china, the Chinese Foreign ministry not aware of any weekend phone calls between china and u. S. Trade representatives, President Trump said there were two calls at the g7 summit, counselor to the president Kellyanne Conway to talk to martha on story last night weighing on on whether a deal would be reached with president xi . The president is open to continuing talks and negotiations, hes made that very clear, this is about trade and protests in hong kong, we see how it is last year. The president doesnt mind waiting if its a better deal for america and in the meantime, he think that is tariffs are working and japan at the g7, this is a huge trade agreement. Dagen mitch, what do you make of this . Where do we go from here . Theres absolutely no transparency whatsoever. In an effort to be transparent the president is tweeting but muddying the waters considerably its 9. The fact of the matter theyre confused and treating it like white noise and low volume in the markets, theyll be bigger things, no transparency, markets like transparency and almost throwing their hands in, thats probably safer bet than making deal. Dagen i want to bring something that Jon Hilsenrath has talked about several times this week, yesterday and even monday, ceos are sitting down in september to plan their budgets for the following year and if theres uncertainty, if they are unsure about the road ahead, how will that Impact Business investment which already fell in the second quarter, factory activity contracting in august in the United States and also hiring and so these are questions that you cant even answer at its showing up in some of the numbers, if you look at revisions for s p 500, they have been falling since september last year long before the trade dynamic started. 177 a year ago, now 10, we will be down year on year, part of the problem the market contraction that we are getting from good news, rising wages but i think ceos are resetting expectations, i think the likelihood of trade deal is not going to happen before 2020. I think the calculus on president xi has been to push closer and closer to 2020, drag your feet on the key issues like ip theft, cybersecurity and staterun economy that continues to defy all norms, he wants to negotiate with the other side of the aisle and hoping for a political win there. Dagen if you listen to some of the candidates, Elizabeth Warren and Bernie Sanders, they are very close to President Trumps ideas on trade and they kind of will say, Elizabeth Warren said something like, i dont believe in negotiating trade deals by a tweet, something to that effect, paraphrasing, of course, their idea on taking on china because large majority of americans think china is unfair in trade practices when in general they are in favor of free trade, so its hard for the candidates differentiate themselves from this. Its definitely tricky especially for farleft candidates, one of the main reason that is Bernie Sanders and donald trump were sharing any voters, right, kind of rustbelt union voters that want tough talk on trade, that said, the candidates have got to figure out a china platform differentiated on trade war. If you saw Amy Klobuchar join Chris Wallace and pushing her on china, trying to distill what it is thats different about a democratic policy in terms of dealing with a mysterious regime as you mentioned there and total lack of transparency and you havent gotten really solid enough answers and people know that they want Something Different than how President Trump is executing this, its hurting americans, we pay for tariffs and i wish democrats would advocate policies. Dagen one thing i will say about hurting americans, theres a lot of estimates about the cost that is would be shouldered by american households, a thousand dollars per household. Former ceo of toy are us was with us, its now practice if youre a company and youre not doing something about trying to offset tariffs and offset production that youre importing from china, i think that those estimates are 2 to 3 to even 5 times too high. Companies really work to mitigate any cost rather than passing them onto consumers, i dont think its a big deal right now in terms of tariffs. I spoke to somebody on the long drive, importer from china, supply chain is china, he cant get out of there, everything is there and he said he cant pass the costs along because he sales big retailest that will not pay more money. Dagen theres the issue do you get lower wages or do you stop passing along wage increases to your employees or you lay people off, these are all questions i raised. I think its as ceo today you will think hard to commit to that part of the world, sometimes billions of dollars and decades in the making, they will not make the mistake twice. Political calculus changed in the United States. Dagen also the companies and executives are realizing the American People are not on board with this, they are finally doing the right thing for americans rather than using as Corporate Tax break, if you will by importing goods produced in china. Bill wrote oped, the fed shouldnt enable donald trump. Presents threat to u. S. And Global Economy to the feds independence and ability to achieve employment and inflation objectives, if goal is to achieve best longterm economic outcome fed officials should consider how decisions will affect the political outcome in 2020. Federal reserve had to fire back, the fed reserve policy decisions are guided solely by congressional mandate to maintain price stability and maximum employment. Political considerations play absolutely no role. Mitch, this makes jay powells job harder and it looks like bill dudley is campaigning to be the next fed chief because this is just beyond comprehension that he would make such a political statement. And if the point is to not politicize, this guy is 100 politicizing. The fed needs to be independent, no question about it. Thats the way our market works and i think they are independent. I obviously disagree with doing that, it opens up a whole set of conversation that is we shouldnt be having, i will say a little bit in defense of argument being made there, the president has politicized, ordered the fed to do his bidding, i dont know who the bigger threat to the United States of america, president xi or jay powell, i mean, thats the kind of rhetoric thats so dangerous that was basely basically it. Dagen this is calling on members of the fed to act. Hes essentially calling on the fed to sit back and allow recession to happen. Thats what i find its clear now that we look back to last year when trump started talking about this, not only policy mistake, what they are doing this year they are actually trying to inwind the mistakes from last year, they were devastating. We were together for a number on friday, looking at the tweets that were coming out versus what jay powell had said and what jay powell said was not bad, wasnt bad news about the economy and start going after him personally and starting to amp up the trade war with china via tweet, not justifying what was said in that dagen but if you believe in an independent fed, then you do not want official who was in favor of all the bondbuying that propped up all president obamas economy among other initiatives at the fed, he just left in 2018 and if if you believe in independent fed, this exdude is making hard to do their job, basically attack the Federal Reserve more because their weird psycho dynamics of saying things to insight the president. People pants on fire about the rhetoric but their rhetoric is even worse. Im not sure that their rhetoric is even worse. Dagen in this instance. The fed did distance themselves as far as they could from the comment. Dagen i wish we could have a little hear what they actually said. [laughter] dagen yeah, exactly, lets talk about real transparency, lets put in cameras. [laughter] dagen opioid deal, Perdue Pharma reportedly ready to settle thousands of lawsuits, up to 12 billion, the family behind the company could give up ownership, details ahead, wild weather wash, Tropical Storm dorian slams into the caribbean as puerto rico braces for impact, the forecast next. Kevin, meet your father. Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Val, vern. Im off to college and im not gonna be around. Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Yeah, i think theyll be fine. Voya. Helping you to and through retirement. Dagen Tropical Storm dorian taking aim at puerto rico, Cheryl Casone has more, cheryl. Cheryl President Trump has declared state of emergency, Tropical Storm dorian heads right to puerto rico, allow quicker federal aid to help island to recover, dorian left mess of island of martin, heavy rains, washing out entire roads, look at the pictures weve gotten from there, the storm eventually on track to hit florida over the weekend, one weather model is showing it could pack Hurricane Force winds when arrived at the sunshine state, we shall see. Turn your attention to google now, former engineer aztec giant , 33 counts alleged stolen information from Google Parent Company and took it to uber, pleaded not guilty in san jose, hes free on bail right now, new data ahead official public offering, major financial losses, the companys net loss of 2019, 245. 7 million, that is sharply higher from nearly 48 million in 2018, fell ipo in june, another unicorn startup valued at more than a billion dollars. And looks like political message didnt get far as she would have liked, ratings hit alltime low, thats down from 2 and a quarter million from last year. We said this i think dagen, all award shows are down in ratings and political, coincidence, i think not. Dagen on every award show and have perform incredible message for all women, all people about finding beauty in yourself and shes an incredible artist, popup shop in my neighborhood that i have not gone in with new album. Two or three songs im listening, amazing. My mom is going to see her in tampa in a few days and performing and coming to our big festival, headliner september 27th, we are really excited to have her huge. Monet did it last year. [laughter] you know someone with influence. Dagen i dont know anybody of influence other than you. [laughter] dagen quickly paleton, what do you think, at least they are recurring revenue stream in line . Installed base matters and they have a Huge Installed base. We have it at our gym, fabulous tool, here is where i take the issue dagen im waiting for the but. One vote for me, one vote for you, 20 votes for them, this is how corporate insiders maintain control after their sell their stock. Dagen when will that disappear, i do not know. Coming up cosco chaos, massive crowd storm china store opening causing traffic nightmare and forcing the store to close for the day. 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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 buy a new samsung note. Click, call or visit a store today. Dagen welcome back, futures are pointing to a mixed open modest open, if you will, we do have plus signs, 5point gain on dow futures after markets finished lower yesterday, dow back optimism over u. S. China trade deal this as the yield curve, this is critically important, the difference between the 2year and the 10year is inverted. The 2year yield higher than 10year invert today deepest level in more than a decade, this is fueling fears of a recession, the 3month and 10year inversion has been ongoing for more than 3 months. Joining us now the guy at merrick solutions, scott shellady, scott, good to see you. Good morning. Dagen scott, what you make about the yield curve inversion and it was actually a trending topic on twitter last night which Mitch Roschelle was tweeting about . Well, its interesting to see that the general public now starting to wake up and learn about it, but i dont think its anything, generally speaking, yes, can mean a recession, 2 years which is not right around the corner number one, but a lot of isnt our own doing, with all the other bonds and negative Interest Rates around the world is weighing in longend as well. Victim of success and inverted yield curve, im not worried about it because it should be inverted right now with whats happening around the world, now if we were in own vacuum and we didnt have to worry about everything else, i dont think it would be as serious but the used to follow say 1955 with play books, since 2008 when we started with quantitative easing and fed in back pockets and flooding the world with cash, lute of the things dont hold true like they used to. Dagen right, i will point out since late 70s, mitch can correct me if im wrong, the yield curve inverted 7 times and only in four of those instances did it result in a recession, some months out, as you said about 2 years, lets talk about stocks versus bonds, when you look at the 30year yield thats dropped before the yield on s p by 500 for the First Time Since 2009, when whats does that say about attractiveness of stock here, scott . Well, it should start to get more attractive as you see the 10year, make run at half percent if the world keeps doing what they are doing and surely make look stocks look better, we have europe in serious negative Interest Rate environment and just not working, all the things that we are throwing are really only place holders for true growth, hoping around the corner sometime soon, we dont know how to grow anymore especially europe, while the u. S. Is doing okay, the bond market is more corrected about our economy than stock market is and also another jab that they will have to worry about himself, will get the president reelected and we are talking quantitative easing and rate cuts, those two things dont go together, i still think the bond market is the one thats telling us the truth now. Scott, good morning, its mitch, one of the things that i worry about is investors chasing yield and are there any sectors that are whether be utility that look bubbly because investors are chasing yields . Well, i was just talking about, i think investors will chase yields everywhere and i think thats dangerous and i hate to say it 1 and a half percent will probably look expensive in 6 to 12months time. Thats okay, look what we have done, all the work that we have done on equity market, its okay if we back off a little bit here, i think its fine, i dont want to see a quick selloff like we had last december, so i think that theyre going to run to the equity market which is probably a false and bond market will be the safe place to stay in shortterm until we get some of this cappulation. Dagen curving the teen vaping epidemic, we will speak with the attorney general of North Carolina trying to reverse this trend and Rob Gronkowski new venture could put any future work with the nfl in jeopardy, we will take a look. Our 18 yes 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. carrying up to 50 times its tbody weight. Essly marches on. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now my body is truly powerful. 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Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Dagen welcome back, im Dagen Mcdowell in for Maria Bartiromo, its wednesday august 28th, top stories at 6 30 a. M. Eastern, futures looking for direction as uncertainty of u. S. China trade continues just days before new round of tariffs is set to go into effect. Also in focus a recession warning that we are watching from bond market, inversion between the 2 and 10year treasury yield, that inversion deepening yesterday, take a look if youre watching on the tv, 1. 52 on the 2year, the 10year now at 1. 4, almost 7 , thats something not seen since 2007. This after early gains yesterday were raised as uncertainty over trade and the bond yield inversion sent investors running for exits and stock, 120point loss on the dow yesterday, checking Global Market action in europe, losses in france and germany, slight gain on ftse 100 in england, Boris Johnson asking queen to suspend parliament in order to oppositions time to try to overt a nodeal brexit. Markets were mixed as investors looking for direction in the trade battle between u. S. And china, we have nikkei if japan and kospi in south korea, another major opioid settlement, Perdue Pharma reportedly ready to spend 12 billion to settle thousands of lawsuits and put the company into bankruptcy, we will hear from one attorney general who has filed a suit against the Company Straight ahead. Cosco opening in china to massive crowds so big the store had to shut down, the company and police turning people away. The fastfood wars chicken or fake chicken, consumers flocking to popeyes and kfc for latest offering but animals dont die for kfc version. [laughter] dagen might be a while until you can get your hands on either the popeyes sandwich or kfc nuggets, plus gronk speaking out, former new England Patriots Emotional Message to fans and what he plans to do now. To our top story this half hour, the focus on ecigarettes an vaping, next guest is suing 8 Companies Say they aggressive target children and do not enforce age restrictions and new university of texas study show that is teen who is are exposed to vaping and ecigarettes are more likely to purchase the product. 20. 8 of High Schoolers and 4. 9 of middle schoolers reportedly vape, unregulated to advertising could be a factor, joining us now North Carolina attorney general john stein, josh attorney general, good to see you. Thank you for having me on. Dagen what is the state doing to stop this . Theres an epidemic of vaping among High Schoolers and middle schoolers and not only in North Carolina, its across the country. In one year from 2017 to 2018 we saw like an 80 increase in reported use just in one year, so we dont even know what the 2019 numbers are going to show. It affects the childrens lungs, the heart, leads to addiction to nicotine that can cause lives to spiral, luka in efforts to be cool in ninth grade he became addicted to jewel and life spiraled out of control and grades tumbled, he lost, he dropped off crosscountry team, boy scots, boy scouts and consequences are major and i will do everything in my power as attorney general to protect young people from becoming addicted to the very dangerous products. Dagen you filed suit against 8 Different Companies related to this, what are you looking for and just tell us about those lawsuits. Sure, i sued jewel which is the 800pound gorilla of the industry earlier this year, they are responsible 75 or 85 teen vaping market but all the smaller players that are engaged in what i allege to be outrageous behavior, they use flavors like cotton candy, gummy bear, french toast, unicorn, flavors that are known to appeal to children, they design the products in a way to appeal to kids by making them look like usb ports and market in social networking channels like snapchat that teens use and use picture of one of their products and, no, mom its a usb port, that could be direct today a young person and not to you or me. Finally they are either holy failing to do any verification which violates carolina law. Ive gone to court because i want the courts to shut practices down so we do not lose another generation of teenagers to nicotine addiction. Dagen what about going after the stores that sell these products to teens, again, rest stops, you know throughout North Carolina, i can of of kioks,s about more than targeting companies that make evaping products. I agree with you, we need a multifacet approach. They are the ones who are advertising to young people to induce them to use and ultimately become addicted to their products which i find to be unconscionable but unlawful here in North Carolina and i want to shut them down. Dagen i want to turn to opioid prices, Perdue Pharma, maker of oxycodone are reportedly offering to settle lawsuits 12 billion, accused of being partially responsible for the opioid crisis, attorney general in North Carolina filed suit in may 2018, what is the role in carolina . I cannot comment on discussions but what i can tell you that Perdue Pharma is responsible for opioid epidemic, we lose about 5 north carolinians every day to opioid overdoes, it is devastating, individuals, families, communities, and i believe that the drug manufacturers and the drug distributors who all play a role of fueling this epidemic must play a role in addressing it. Dagen what additional steps could you as attorney general in North Carolina take on this, we covered yesterday heavily the half a billion dollar fine against Johnson Johnson out of oklahoma which came in great deal lower than many people were expecting . Well, i have gone to court. Ive sued Perdue Pharma, so litigation is an Important Role that the attorney general plays but i am trying to take a very broad notion of what i can do to fight this epidemic, so we are fighting to reduce the number of people who become addicted through public education, we have a wonderful website morepowerfulnc. Org. Stop act that reduces overprescribing by doctors, im advocating that we have more Treatment Options by expanding medicaid here in North Carolina and, of course, we are going to go aggressively after drug dealers and dug traffickers who are exploiting peoples addictions to make millions of dollars. Dagen i want to raise this issue carefully, though, attorney general, and this is not what you do for a living but left out of these conversations about vaping and ecigarettes and the abuse of opioids is personal responsibility, and at what point responsibility of parents of teenagers to make sure they are not buying out devices and also when people get addicted that its somebody elses responsibility because ultimately it hurts with opioids the very people who need these drugs to manage catastrophic pain . Well, for instance, in the stop act that we passed in North Carolina, set limit on prescribing for acute pain when you break your arm or have wisdom teeth taken out, does not address chronic pain which is real and must be treated, so there are ways to distinguish between people with catastrophic pain and just folks who have a minor medical procedure, but, look, teenagers are teenagers, im a parent of 3 so i understand and you cannot expect a parent to know every 40dollar purchase your child makes at a convenient store, you just cant and people think they can, they dont have the first clue of parenting. So kids, their brains are not fully developed, the brain doesnt stop developing until 25, they will not always make good decisions which is why we as parents, we as a state should protect them from corporations that want to exploit that immaturity and create addiction and its inexcusable and i as attorney general will do everything i can from stopping that in my state. Dagen thank you so much for being here. Please come back very soon. Headlines across america this morning, the kansas city star, leaving other prohibition intact, now on hold, procedure is ban for reasons including gender, race, down syndrome diagnosis, decision handed right before the law was supposed to go into effect. Anchorage daily news writing bp will sell alaska assets to hillcore, significant shakeup in oil business in alaska, longtime operator of oil field selling assets in the state to hill corp for 5. 6 billion, bp operated in alaska since 1959. The denver post says colorados rough highway pavements gets knocked again as state slides in 5 spots, failing marks in colorado when it comes to highways, the state finishing close to last for pavement quality, the reason foundation, annual highway report ranked colorado 47th for world interstate pavement conditions which is next to last, highway in delaware dont have rural interstates and arent part of survey. I will say ohio wins in the michigan, ohio, pennsylvania, new jersey, new york. Pennsylvania . Dagen pennsylvania is one of the worse, pennsylvania, 78 federal highway is awful. I took 80 the whole way and i have to say ohio was nice. [laughter] dagen you need to get a car and hit the road. Are you going to pay my parking . Dagen no. Rent a car. Coming up crazy at cosco, store opening in china forcing workers to close doors, fastfood chicken craze, kfc nuggets flying out of stores and popeyes to keep up with demand after selloff, stay with us. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Dagen new concerns about north korea, Cheryl Casone has the details, cheryl. Cheryl thats right, dagen, satellite images taken of north Korean Shipyard suggesting the country could be building a submarine capable of launching nuclear missile. The photos show vessels and cranes that can be used to haul missile out to sea for launch and could significantly improve the regimes ability to conduct Long Distance attacks. The cosco is now limiting the number of customers allowed into its new store in shanghai after massive crowds forced the pane to close early on first day yesterday, cosco said only 2,000 shoppers can come in. The large crowds forced cosco to text, please joust dont come, they had direct traffic, shares of cosco rallied more than 35 so far this year, kfc could have another hit on its hands, the company tested plantbased chicken substitute yesterday, sold out, guys n5 hours, according to kfc they sold more than Fried Chicken, kfc will study the test and decide whether to do another larger test or go for the full rollout, second option, folks, okay, kfc is not the only one crowing this morning, popeyes with chicken sandwich sold out, extraordinary demand, sandwich lasting until october as originally estimating, lets just say chicken is the story of the day. Dagen popeyes Fried Chicken has always been better, so much better than kfc. Sandwiches are better, the chicken is better than chickfila sandwich chicken so why wouldnt you slap that on a bun, why wouldnt it be delicious. If i did eat something that was like that, it would be Fried Chicken, chef art smith, i would call art smith and ask him to make Fried Chicken. Can we quickly talk about vaping because again raised interesting point, used to be the good kids and the bad kids who smoke or didnt smoke. Theres not like the interesting bad boy standing outside of school with one leg up against the wall smoking a cigarette and its every kid that you see. If youre not doing it youre left out. Dagen mitch, what happened one of my kids who is college freshman, last year was vaping, i dont think people realize how much nicotine is brought into your body, more nicotine than smoking cigarettes, he had a rapid heart rate as a result and ended up walking down the street because heart was palpatating. Dagen coming up water bottle recall, millions of childrens water bottle sold at target and walmart called back for potential choking hazard, what you need to know and gronk speaking out, Rob Gronkowskis plans and what he plans to do now. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on car insurance. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Oh. Thank you. Yeah. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories 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. Dagen former patriots star Ron Gronkowski on why he retired and new cbd business. Jared how about this in span of 72 hours two of the nfls premier players essentially said they retired from the game that they love at age 29 because the physical pain that comes with the game, well, sucked the joy out of life. I need today recover, i was not in a good place. Football was bringing me down and i didnt like it and i was losing that joy in life. The night the patriots won the super bowl he layed in bed for slept for 5 minutes in tears last night dealing with quad injury, gronkowski said hes pain free for the first time in a long time and can play now but use of cbd products that got him here and thats why he has partnered with advocates health and one issue if he were to decide to come back to play in the nfl, he would be facing suspension because the nfl doesnt allow any connection with cannabis products yet. I thought he was setting up to come back in. He seemed to open up the door, a few months from now its not on radar, doesnt plan to but didnt exactly said what andrew luck said, you compare what he and andrew luck said, the similarities, andrew luck says i havent been able to live the life i want to live, taken the joy out of the game, gron says it was bringing me down. Two premier players. Why doesnt the nfl allow cbd because it doesnt have the active one, thc, whats the holdup . Roger goodell to answer that one. You can all go phones and order it right now. I have cbd lip gloss. I was watching it when andrew luck came out and started getting booed, what i think its so interesting the difference between how fans reacted versus other players, other players have been supportive of the decisions and understand whats going on and you look at the guys in their 20s, theres no reason to have a miserable life, to entertain a bunch of people. Dagen yeah, people sitting at home in dirty sweat pants and never played professionally and upset about it. Jared fox news 24 7, siriusxm 115, futures trade, the yield curve, we will break it all down. Ners arrive, well inform them that Liberty Mutual customizes home insurance, so theyll only pay for what they need. Your turn to keep watch, limu. Wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Dagen good morning. Im Dagen Mcdowell, in for Maria Bartiromo. Its wednesday, august 28th. U. S. China trade uncertainty, a new weapon in the battle could be emerging. Find out what it is. Plus, more than 100 Companies Reportedly asking the u. S. Government to allow them to sell items to black listed huawei. Futures looking for direction as the questions about these trade negotiations continue, just days before a new round of tariffs go into effect. Futures are to the plus side, 19 point gain on the dow futures. And also in focus, a recession warning from the bond market. The two and 10 year treasury yield inversion deepening yesterday to levels not seen since 2007. This morning you can take a look and, again, that inversion definitely in place and every recession since world war ii has been preceded by one of these inversions. This after early gains were erased yesterday as uncertainty over trade, the bond yield inversion continued, 120 point loss on the dow yesterday. We have gains in europe to tell you about, in england, losses in france and germany. Boris johnson asking the queen to suspend parliament in order to limit the oppositions time to try to avert a no deal brexit. In asia overnight, markets were mixed as investors were wringing their hands about the trade situation but we did have gains in japan and south korea. A recall alert for parents. Millions of kids Water Bottles sold at costco, target and walmart taken off shelves over a choking risk. What you need to know. And spacex has liftoff. Its star hopper rocket successfully soars into the sky. Did it blow any peoples windows out . We will investigate. All that and so much more coming up this morning. Chief strategist, david nelson is here, democratic strategist, jessica t a arloff and mitch rochell. Good to see you one and all. We have polls coming out. All the polls. Dagen we have a usa today poll thats out, we have a poll that comes out in an hour and it will probably tamp down what was happening with the montmoth. When Bernie Sanders was king of the world. Dagen and l Elizabeth Warren. You can tell about a campaign by their reaction to polls. Elizabeth warrens team has been cautious and consistently looked at the averages and if you do look at the averages, she is the player on the rise right here. Joe biden is maintaining steady support but warren, her curve is like this. Or is that a curve. She shows energy on stage and the other two candidates are falling by the wayside, especially joe biden. He his strength, his supports hanging tight. I dont know if you can ride on the electability factor if its the only thing youre running on. Did you watch the healthcare ad he put out yesterday . It was astounding. It was deeply personal to him. He was sworn in by his childs bedside at the hospital. Hes had brain surgery. His son passed away of glioblastoma and the ad really puts the focus on the people that he needs and it highlights this thing that he does where he says give me your number, im going to call you and joe biden actually calls people, he calls strangers that he meets. A young man ove over the weeken, came up to him, he had a stutter which joe biden had when he was growing up. He is personable and people know him. Dagen when joe biden talks about loss and recovery and healing, he is at his best. But again, Elizabeth Warren is shes running the best campaign. Dagen before we tease the guest coming up, ill say this. What happened with President Trump is people were not at these rallies and they were not on the ground and it was people who as i always say who wear makeup for a living and sit in front of tv cameras making judgments about what they werent seeing and you have to be careful to not do the same thing about Elizabeth Warren and im speaking from personal experience. Coming up this morning, pennsylvania congressman, member of the house budget, labor and Veterans Affairs committee, dan muser is here. Mike pence, mark short on trade and former Campaign Policy director, lonnie chen on 2020, chris hogan on student debt and scams and dr. Mik on the new ecigarette ad study and the linker to teen vaping, cant wait to have a discussion with dr. Mik about all of that. Our top story this hour, china trade uncertainty, chinas Foreign Ministry saying its not aware of calls made to the u. S. In an effort to restart trade talks, clashing with President Trumps comments earlier this week that high level calls were placed. Kellyanne conway talked about the statements last night. The president said they tried to make a deal several times. The president didnt like the deal. This president is taking the long view on china because it was neglected for so many decades, martha, that it left us with a half a trillion dollar trade deficit with the number two economy in the world, china, the forced technology transfers, the stolen intellectual property, the president doesnt mind waiting if its a better other president s didnt even bother to make any deal. The industries that the president has as part of his incredible economy include industries that were flat on their back in part because of the poor relationship with china on trade. Dagen the clock is ticking on President Trumps tariffs. The latest round set to go into effect on sunday. Joining us now, former white house trade official, partner at aiken gump, cleat williams. You were involved in the china trade negotiations from july 2018 to this past april. Give us perspective because, again, were sitting around on television and in the media asking a lot of questions and quite frankly not having any answers. Right, right. Well, look, theres a lot of uncertainty out there and a lot of noise and i think you need to try to cut through the noise. And the president was very clear in france that some of this is by design. You get positive signals one day, negative signals the next day and thats the way he negotiates. He thinks that uncertainty creates learning. If youre out canning through the noise, what cutting through the noise, what do you need to look at . Im not worried about did a phone call take place or not. What matters is this. This is going to sound overly simplistic. What this is going to take is its going to take bob lighthizer, steve mnuchin, getting in a room with their counter. Hillarycounterparts from china d talking about the structural issues. Its not going to happen over the phone. Even when the leadsers get together, its too short, its too high level to get into the weeds here. The question is are those guys getting together, talking about the things that matter and they havent been doing it much lately. You had the meeting in shanghai in july. Other than that, they really havent gotten together since may and so through all this noise, the one thing im looking for is are they getting in a room because thats only way i think this thing is going to get done. Dagen mitch, i want to bring you in here. The central question for markets and our economy is from Business Executives and ceos, theyre looking ahead and saying we dont know what the next year looks like, we dont know two years looks like, how do we invest here, what about our Investment Decisions and what about our hiring decisions. That is the great uncertainty thats hanging over the u. S. Economy at this point. Theres a planning problem not yet crisis but theres a planning problem in corporate amongst corporate managers, even in boardrooms about how to make decisions. Im curious if that kind of consternation on the part of businesses is on its got be on the minds of lighthizer and mnuchin because of their backgrounds. Are they pushing to get this done . Wheres the holdup . Who is going to pull out their weapon first to get this thing moving . I think the uncertainty is a real concern. And its something that i hear from business as well. I do think its something that is on the white house and on the negotiators radar screen. What i would say is this. If the white house wants to have a free hand with china, if the white house wants to be able to play out this strategy with china, it needs certainty in other areas. It really needs to get usmca democrats, republicans, need to Work Together to get that across the finish line. That will create a certainty for business. And then you need to improve things with japan, with the eu, and in that regard i think the given wag7 was a bigsuccess for. You look at the agreement in principle with japan. This is something thats going to really help our farmers. Its something that ultimately will provide some clarity for the auto sector by taking the threat of tariffs off the table and then you look at the eu. Good meetings with Boris Johnson to try to provide a little clarity around the relationship well have with the u. K. Coming out of brexit. Good meetings with merkel. And then really macron to me was the biggest story. And you had the u. S. And france talking about a way forward on Digital Services tax that hopefully will find a way to not discriminate against u. S. Tech companies and also in the process avoid tariffs on france. So these are all really positive things. I need to see more of that i want to he see more out of that, out of the administration, put aside your differences with the allies, give businesses certainty there and that will give you more of a free hand with china. With china, i think as my former colleague Kellyanne Conway was saying in the segment you played, this is a longterm issue and the president needs to be able to have a little bit of shortterm uncertainty, a little bit of shortterm pain to do whats right for the economy over the long run. Dagen this was a relationship, an adverse relationship with china in many ways thats was 30 to 40 years in the making, quite frankly. One thing really quickly on usmca, well talk about it next hour with mark short, but there are some swing district democrats who are pushing for a vote on the usmca. Collin allred, democrat in texas, is one of those democrats who are pushing for a vote. So well see what happens on that. In terms of the u. S. Versus huawei, the Commerce Department has received more than 130 applications from u. S. Companies for licenses to sell goods to the chinese tech giant. This is according to reuters. The flood of applications coming just two months after President Trump said some sales would be allowed. Cleat, your reaction to that . Well, this is something that is a difficult issue where the u. S. I think is trying to Balance National security with the economic issues. And i think youre going to see that continue to happen and that is a difficult issue. We talked about this before. I do think theres a nuanced way forward. But this goes back to i want to just take a moment, go back to working with allies. This is an issue where we need to Work Together with our allies, where there were conversations at the g7 and we need to build on how do we Work Together on all of these china issues and one that i think is critical, you talk about huawei, i also want to talk about the wto. President macron and the statement that he made coming out of the g7 talked about how the wto needs to better deal with things like forced technology transfer, needs to deal with these unfair practices and that shows there is a unified front here. We need to Work Together on huawei, we need to Work Together on the wto, we need to Work Together on china. Thats going to give us a certainty we need to be able to prevail here. Dagen good to see you. Thank you for being here. Coming up, a popular water bottle recalled details on the potential health hazard. Plus, a successful launch, spacexs star p hopper finally lifting off a day after a major glitch. Stay with us. You i like me better when im with you. I like me better when im with you. Whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. 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Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Yeah, i think theyll be fine. Voya. Helping you to and through retirement. Dagen a bold move by britains Prime Minister in his effort to leave the European Union. Cheryl casone has the details. Cheryl british Prime Minister Boris Johnson will temporarily suspend parliament in midoctober, limiting the l time the opposition has to block a no deal brexit. Johnson said britain will leave the eu on october 31st with or without a deal. Supporters of a second referendum on brexit says johnsons is trashing the constitution. The company that runs the sat test is dropping the controversial adversity score. The idea to include socioeconomic factors to supplement a students test score faced backlash from students, parents and educators. The College Board says it will use a tool called landscape which provides Background Information about schools and neighborhoods. Well, millions of popular Water Bottles are being recalled. County hrecalled. Theyre being k because silicone spouts can separate from the bottles, causing a potential choking risks. Over 5. 7 million bottles were sold between april 2018 and june of 2019. And we finally got liftoff and we got good pictures out of it. Spacexs star hopper successfully launched about 500 feet off the ground and then gently touched down. This happened in south texas. This is a day after a glitch that caused the test to be aborted just seconds before launch. The star hopper, one of many tests designed to eventually send people to mars and the moon. But again, dagen, pictures are pretty incredible, actually. The video is kind of fun to watch. Dagen its is. Space. Cheryl the final frontier. Dagen thank you for finishing my thoughts. How to manage skyrocketing Student Loan Debt, next. And nissan has a gadget that will turn any golf player into a pro. You cant use it on the course, though. In a real round of golf. But we will show you. Its awesome. Straight ahead. I find its very, very easy to be true. I find myself alone when each day is through. Yes, ill admit that im a fool for you. Because your mine. I walk the line. Im looking at that truck wow thats awesome this labor day, everyones excited about chevrolet. Theyre all really cool cars. Woo, i love it i cant stop staring at it. Ride out the summer in a new chevrolet this labor day. Wooh its time to upgrade. Get zero percent financing for seventytwo months plus two thousand dollars on all 2019 silverado double cab pickups. And, during the labor day sales event, make no Monthly Payments for 90 days. The labor day sales event ends september 3rd. This is jamie. 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Dagen skyrocketing student debt creating ample opportunity for scam artists. Student loan Debt Relief Companies may be a breeding ground for such schemes according to a new wall street journal investigation. Joining us now financial expert, author of everyday millionaires, chris hogan. Chris, this is a fascinating investigation by the journal and its frightening. It really is, dagen. I mean, we know this student loan situation is a real crisis. We have almost 1. 5 trillion in Student Loan Debt and almost 11 of that, 160 billion of it, is 90 days or more delinquent. People are struggling. Theyre willing to look for whatever relief is out there. Unfortunately, this is a breeding ground for people to be taken advantage of. I want to give people three tips to scammers. Number one, if youre being charged an upfront fee or monthly fee, this is a problem. Its illegal. They cant do this. And if a Company Promises you immediate student loan relief, thats also an indicator of a scam. And then finally, if youre asked to provide personal information, information about your Social Security number or your federal id, this is also a scam. So i want you to be careful. Defend yourself and get off the phone immediately. Dagen dave nelson has a question for you, chris. Yeah. A lot of millennials are obviously affected by this and they have a lot of Student Loan Debt. Im surprised this would proliferate in an environment right now where a lot of these kids are probably on the left side of the political aisle and the talk about eliminating the Student Loan Debt. Why is it so exciting for them right now to do this . Well, you hit the nail on the head. Right now, this has become political fodder to talk about ways to eliminate Student Loan Debt or certain candidates are promising this is their focus. All this is an emotional ploy to try to get your vote. Ultimately, we cant delegate obligation to Student Loan Debt. We have to get focused. I dont care what side of the political aisle youre on, your financial future matters. When you have money going out to Student Loan Debt, you cant save for your future. I want everyone to help themselves and attack debt. List the debt out, smallest to biggest. We helped over 5 Million People in the last 20 years get themselves out of debt and be able to build wealth. I want people to know they can do it as well. Dagen i will say one thing, chris, though. That i understand i do understand the emotion attached to a bailout of Student Loan Debt generations of people sat back and watched the banks get bailed out. Right or wrong, the money got paid back. The federal government lost money on gm. People sat back and said the banks got bailed out, a lot of fat cats kept their jobs, wheres my bailout. Its bailout culture. It happens with the government. I understand the hell motio thf that. I agree. Any time you hear someone is going to help you or theres a potential to get help, theres a part of all of us that wants to be supportive. I want people to understand, this has been information thats been talked about for the last eight to 10 years and weve not seen any real progress. So i dont want people sitting back anymore. I want them to help themselves. That means getting intentional. They can get plugged into financial piece university, a nine week course that we teach to help people get out of debt. Im seeing people do it. I talked to a couple on my show, the chris hogan show, last week that paid off 250,000 in Student Loan Debt. It took them four years but they were able to do it. They downgraded lifestyle and threw every extra dime towards that debt. So its possible. Dont wait on the government to cab you. Save you. Dagen Credit Card Debt, this will set your seat on fire. A new bank p rate study finds more than 68 of credit card users are focusing on maximizing rewards rather than paying off the debt. So again, they dont do the matt had of like math of the rewards are less than the actual the interest that youre paying on existing debt. Thats right, dagen. This boils down to doing simple math. This gets my hair on fire, both of them. I want people to learn how to count. We have to learn how to count. Heres the deal. I did the largest study on millionaires in the country. We talked to over 10 you thousand o10,000 ofthem. Not one of the millionaires that i talked to told me that credit card points or reward points caused them to get to millionaire status. The reality is, this is a marketing scam and a smoke screen. Most of these points and rewards never get redeemed. I dont want people falling for this trick anymore. Weve got to wake up and learn how to count. Dagen good to see you, my friend. Good to see you too. Dagen i didnt even bring up that 401k loan thing. Yeah, i just did, didnt i. [ laughter ] well save that battle for next time. Dagen i wanted to make you laugh, thats all. Coming up, china trade tensions, lawmakers pushing a nafta replacement. Dan muser joins us to talk about usmca. Plus, never miss a putt. Nissans selfnavigation technology hitting the links with a ball that cant miss a shot. Love it. On my darker day. When im losing pay. It aint going to change. I just need, i just need you. vo the hamsters, run hopelessly in their cage. Content on their endless quest, to nowhere. But perhaps this year, a more exhilarating endeavor awaits. Defy the laws of human nature,at the summer of audi sales event. Get exceptional offers now. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Dagen welcome back. Im Dagen Mcdowell, in for Maria Bartiromo. Its wednesday, august 28th. Your top stories at 7 30 a. M. Eastern. Futures looking for direction as uncertainty remains about u. S. China trade even talks. Just days before a new round of tariffs are set to go into effect and selling has picked up steam, we had slight gains earlier but the dow futures are now down 63 points. One thing i might point to, if you want to take a look at the 30year treasury, the 30year long bond has soared to the yield there, a record low. So if you want to look at the buying in the 30year bond, maybe thats unnerving markets a little bit. And then also the warning sign on a recession that the bond market has been sending with the inversion, with the twoyear yield being higher than the 10year yield, that inversion hitting a breadth, a level not seen since 2007. You see the inversion is still present this morning but money is rushing into the long bond. This at after early gains were erased yesterday on uncertainty over trade. The bond yield inversion, 120 point loss on the blue chips yesterday but losses across the board. Checking Global Market action in europe, we have losses in england, france and germany now. Prime minister Boris Johnson in britain asking the queen to suspend parliament in order to limit the oppositions time to try and avert a no deal brexit and mitch, the pound has collapsed by 1 . Over 1 , the biggest drop this month right on the news of Boris Johnson reaching out to the queen. Dagen thats a stunning move for any currency. In asia overnight, markets mixed as investors looking for direction. The nikkei up, also the kospi in south korea. A push for trade deal, farmers hit by u. S. Tariffs against china with the retaliation from china, not buying agricultural products, are looking for a deal toward mexico and canada, the rat phi case of the usmca. This as mike pence pushes for democrats pass the trade deal. The big business of video games, a popular Fortnite Player announcing a Major Partnership with adidas. Find out who it is and what the deal involves. And never miss a putt, nissans selfnavigation technology hitting the golf links with a l ball that never misses. Plunk. In the hole. Our top story this half hour, replacing nafta. Many are pushing congress to pass the usmca. Some lawmakers see the deal as a potential source of certainty in the markets aa mid the china impasse. Joining us now, housed cas congn muser. Good to see you. Theres an article in the wall street journal that there are democrats in swing districts say in texas, for example, that are really trying to push this forward. Do you see movement that it will be ratified by the house when everybody gets back to work . Well, it needs to. Anyone who is rational in congress and believes that this will be helpful to our economy and to americans in general will be onboard with the usmca. Its ready to go as you well know, canadas ratified it, mexicos ratified it. Ambassador lighthizer briefed us a couple weeks ago where things were and he does have regular conversations with Speaker Pelosi and other members of democrat leadership and theyre building their base to assure they have a large number of votes. But republicans are entirely for it. Its ready to go. It will be great for my district, from a dairy perspective, aluminum trade. So we need to do it. It will add 70 billion, minimum, to our economy. Thats basically a new state, a new idaho being added because of this deal. You know, hopefully Speaker Pelosi can let go of the politics, bring this to the floor, and it will pass. Congressman, good morning, mitch rochell. The labor unions are behind it, the Republican Caucus is behind it. Some of the democrats have remarked that the pharmaceutical provisions in there are troubling. If you went back and gave some concessions to the democrats, what would that mean for mexico and canada that we may have to go back with and retrade the deal . Is that something thats even doable or is the deal so inked with our counterparties there that it has to be signed and passed into law as is . These things have come up and ambassador lighthizer has to the best of his ability assured us that some of these things can be a handled on a regulatory basis but if there are a couple of tweaks, i dont necessarily think it would require full ratification from the other countries, from my understanding. And listen, regarding the heres a a lot of issues related to icalndustry. We need to bring those costs down so that would be something that would be favorable. But this thing is ready to go. We need to sign it. We need to help it advance our economy. We just did a great deal. The president did a great deal with japan where the china trade discussions are continuing. Weve got our best people on it, right, from larry kudlow to Peter Navarro to am bass r doorr lighthizer who is probably the best in the country at this juncture in time. So i feel very positive and the Economic Outlook will be far stronger once we make this progress. I mean, our longterm growth, that inverted yield curve should get normalized when we can get some of these things completed. Usmca is first on the docket. Dagen i want to bring in jessie on the usmca. Insight into the thinking of democrats. Cleaverly, you have clearly, you have. I was pointing to the wall street journal story where you have congressman Collin Allred in texas pushing for this, talking to business leaders, essentially telling them that he understands what is going on here and hes on the side of moving for ratification of the usmca. Yeah, there are a few democrat whose have been open about this, probably a few more who arent talking about it publicly. We have control of the house right now, the people in those positions, its tricky. Nancy pelosi was very good during the election, leting the candidates be the candidates. She said if you need to bash me on the trail, go ahead and bash me, say you dont support me, whatever it might b this is different because this is bigtime legislation and nancy pelosi and Chuck Schumer have been more dug in about it. I see an opportunity to at least have these conversations and if congressman muser you are correct that there can be modifications about pharmaceuticals, i feel like this is a chance for boat sides to get a win out of both sides to get a win. Its a binary event, either youre for the usmca deal or you want to return to nafta which is obviously flawed. What do you think about that . Of nafta has had its day. Im one that actually believes that nafta did a lot of good things. I was in manufacturing and it was necessary. But it needs great reforms. Its no longer in our best interest and usmca will be in our best interest. And like i said, back to my district, dairy alone will make a large difference. Canada is going to open up its markets for our dairy producers. This is something thats very important. There are various requirements from mexico. Its upgraded. Its modernized. Its the right legislation for trade for north america. We need to pass it. And congressman allred and others, theyre levelheaded people. That know whats best for our economy. Dagen congressman, good to see you. Thanks for being here this morning. Thank you. Dagen coming up, teen vaping, a new study shows e greets cigarettecigarette ads arelinks vaping. Plus, the big business of video game, a popular Fortnite Player announcing a Major Partnership with adidas. So glad you made it. Youve got to give me some loving. Give me, give me some loving. Give me some loving. Give me, give me some loving. Can i get some help. Watch his head. Im so happy. Whatever they went through, they went through together. Welcome guys. Life well planned. See what a Raymond James Financial Advisor can do for you. Sleep number 360 smart bed. St sale of the year on a you can adjust your comfort on both sides your sleep number setting. Can it help us fall asleep faster . Yes, by gently warming your feet. But can it help keep us asleep . 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Turning out to protest the airlines move to fire employees for apparently supporting pro democracy demonstrators. 20 employees have been dismissed or forced to resign including the ceo. Well, fortnite and streaming star tyler ninja blevins entering into a Multiyear Partnership adidas. Blevins says he cant say whats in the works with adidas but he told fans to use their imagination. Adidas said the deal could lead to real world or virtual products out there. For frustrated golfers, this is for you. Imagine never missing a putt. Nissan promises to deliver such a miracle with its high tech golf ball. The car Company Released a video of the pro pilot golf ball in action. This is a 4yearold hitting the ball way off course i before it changes path and directs itself into the hole. It has the same technology as a that found in selfdriving cars. These arent for sale. Its a concept. We have a lot more coming up. Focus on ecigarettes, dr. Mik is going to be joining us to talk about a new study linking ecig ads to teen vaping. Players going to play, play, play, play. And the haters going to hate, hate, hate. Baby, im just going to shake, shake, shake. Shake it off, shake it off. They answered 410 questions in 8 categories 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. [ soft piano music playing ] mm, uh, what do you do for fun . Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. He has pics of you on his phone. 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. Dagen welcome back. North carolinas top prosecutor, the attorney general in the state, of on the show earlier this morning, was talking about suing eight producers of vaping products to fight teen use. Heres what josh stein had to say. It has to be education of young people. We have to go after retailers who are flouting the law. It starts with the corporations. Theyre the ones manufacturing the products, theyre the ones who are advertising to young people to try to induce them to use and ultimately become add indicteaddicted to their produc. Its unlawful in North Carolina. I want to shut them down. Dagen joining us now, doctor mikmikhail varshavski, known as. Mike. What is your take on this . I really just want to get out there and say right away, it is horrible to have these companies advertise directly to the youth and thats exactly what theyre doing when theyre selling products that are gummy bear flavored, Graham Cracker flavored, showing young people vaping and putting it on instagram, on snapchat, going to schools and talking about it as a healthier alternative to smoking. Here are startling statistics for us. In 2000, we had about 20, 25 of children smoking, teen smoking. That dropped to below 5 in 2017, 2018. Now, guess what its getting replaced by . Vapeing. 30 of our High School Teens have vaped at some point. Thats horrible. There are side effects to these products. The most dangerous one is that nicotine is an ad addictive sube that triggers the young mind to fall down the cascade of addiction, it goes to cigarettes and other drugs, changes the way the young mind develops. Thats my biggest problem with this. My kids who are 19 now, theyre hopefully off of vaping, but they wouldnt have touched a cigarette in a million years because they were so well educateeducate fromeducated froe young that cigarettes were awful. From an intervention perspective, how do we get the kind of education about vaping that existed about tobacco product. We need to get the misinformation offline, where we say this is a healthier alternative to smoking. The only thing that belongs into your lungs is natural air, nothing else, absolutely, including vaping. The second thing that children need be aware of, children need to be protected from is from this rogue advertising that sneaks into their stores and social media accounts. If theyre exposed to it, theyre going to want to use it. Theyre tempted to use it if they think its cool. If we allow it to happen, it becomes a systemic problem that children dont have the power to control that. Dagen lets stay on the ads. Theres a new study from the university of texas that shows that ecigarette ads increase the odds of a young adult or teen vaping. If you look at this, the data in this, in terms of the likelihood that it increases it, its really a astonishing. The thing they noticed in the study was that instore advertising had the biggest effect on whether or not teens began vaping. And they notice that change over the last two years. In addition to creating all of these problems related to addiction, now were seeing actual lung Problems Develop from what we suspect are vaping products. Dagen and the ceo of juul, juul labs, was on cbs this morning and i dont know if we have the sound but i will tell you what he was asked. This is kevin burns, the ceo of juul. The centers of Disease Control is looking into nearly 200 possible cases of severe lung disease, possibly tied to the use of ecigarettes. And he said this is worrisome for the category, worrisome for us if we contributed to it. I mean, worrisome. I dont know how as an average human being, let alone a doctor, you cant suspect youre putting in chemicals into your lungs where theyre not supposed to be and you suspect something bad shouldnt happen . Just by looking at the way the products are made, we should expect some sort of side effects, especially the amount that people vape. This isnt a problem you vape a little bit, you put it down, dont use it for the rest of the day. This is a chronic habit people get addicted to. Parents come into my office and say they cant get my child off of this. They have it on them at all times. It took nearly a century for us to recognize the Health Effects from to tobacco and the last two decades weve had a dramatic decline in teen usage. This is a staggering rise. The delta, the curve here is very, very high here. What are we looking at . What were looking at is exponential growth of a product that outpaced our medical ability to say that this is harmful. So this new Technology Comes out, medical Research Takes time to conduct. We need to have the idea of longterm effects. Because we didnt have that, all these ika experts, i caw theylm that, i know all experts. They say its so much better than smoking and they convinced us to say i would rather my child vape rather than smoke. Absolutely not. This is just as problematic, just in a different way. Dagen thats the decision. But the kids wouldnt smoke in the first place. Thats the issue. Thats the point. Dagen this is a new drug and a new addiction that opens up a pathway because we were talking about it, because it used to be when i was a teenager, which was, again, like two centuries ago, but you couldnt smoke even then, even in the 80s, you couldnt smoke everywhere. It smells horrible. If you were an athlete, even as a teenager, you didnt feel good if you were smoking cigarettes. This is something new. And this is something new targetings positively every teenager with these flavors, chocolate, mo mocha. Ask dr. Mike a question if you want to. All the conversations were having make me think that sadly theres no society pushback, its not an ugly thing, doesnt make you stink. It makes me think of that movie, thank you for smoking. Great movie. It was a great movie. Im curious if we are hopefully going to move to a place where were going to try to wean teenagers and Young College kids off of these products, what does that look like . What is the process for becoming not addicted anymore, do you have to do nicotine replacements . Will they be chewing gum . Before doctors give advice, we need to have evidence. The lowest form of evidence is expert opinion. I sure can sit here an here and speculate. I dont have evidence to support it. That takes time to develop. We need to put money into research to figure out can we quit cold turkey. Is this reasonable . We dont have the answer to that question. What i think needs to happen is on a systemic level we need to address vaping, talk about how theyre advertising to young children, talk about the availability, can they go on ebay and buy it secondhand without an identification process. Unless we address flaws in how children can obtain vapes, it will never be enough. The thing i worry about, because this awful, the thing i worry about as a parent is grownups saying its bad korea itcreatesmore demand on the ki. Im trying to figure out how do we fix it and fast so it doesnt spiral out of control. I talked about my son having a rapid heart rate because he vaped too much and his heart started pal b beating fast as a result. The idea of access to vapes, whether or not they can be purchased without an Identification System in place and the second is that they shouldnt be advertised to children. Any time theres a possibility that a child can see an ad, thats a possibility that that child will want to vape and youre increasing the odds of it. To dagens point, thats the first thing they did with joe camel. They took the ads away. Dagen they was a very small issue compared to what youre seeing with the flavored vaping products. Joe camel of course for people who dont remember, the camel on the camel cigarettes was turned into a cartoon character and i think it was rj reynolds was accused of using it to try and target children. Was it scary enough for your son to avoid it . Maybe. Mitch doesnt know. Maybe in the short run but i think the longer term issue is how pervasive it is and how its part of a culture and if youre not doing it youre not not in. Dagen dr. Mike, what a great discussion. China trade session, chief of staff weighing in on the uncertainty still ahead. And the 201 2020 race, we have polls, joe biden at the moment not losing to Elizabeth Warren. Every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . 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I have it within me to lower my a1c. Ask your doctor about trulicity. Good morning i am Dagen Mcdowell in for Maria Bartiromo. Wednesday, august 289 your top stories at the 8 00 a. M. Eastern. U. S. China trade uncertainty, more than 100 Companies Reportedly asking u. S. Government to allow them to sell items to blacklisted huawei this comes amid backandforth over phone calls about trade negotiations. Efutures looking for direction but weve got losses across the board right now 59point loss on the dow futures as money is rushing into the lock bond rushing into the 30year treasury that yield there hitting a new record low earlier. Investors also watching you see 1. 92 , i can get a yield higher than that on s p 500 as we saw the yield curve nefrth to widest if you will since 2007 yesterday between 2 and 10 year seen as a sign of a recession, by many, not always an indicator but every recession in the post world war ii era has blen preceded by inverted yield curve blue chips yesterday shedding 120 point losses across the board there. Taking in Global Market action in europe we have losses in england, france, germany to report losses north 1 in france and germany, in england Prime Minister Boris Johnson asking the queen to suspend parliament in order to limit the opposition time to avert no deal brexit in asia overnight mixed markets there. Nikkei, kospi south korea eking out gains. The 2020 race clock ticking for a glats to make it into the debate hours, aloft who is in out who might have chance to meet requirements, and push for a trade deal, he farmers hurt by u. S. Tariffs gejz china looking toward a deal with mexican, and canada. This as Vice President mike pence pushing for democrats to pass usmca. Plus peloton going public, high end Equipment Company revealing losses rising so is revenue. To top guests coming up Hoover Institution Research Fellow loney chen Varney Company, cyberguy on deck top story this hour, u. S. China trade uncertainty the foreign minister nominate aware of calls President Trump saying there were two calls at g7 summit latest round on 300 billion dollars of chinese goods, settleing to into effect on sunday, some of those goods the tariffs are delayed and until december 15th joining me chief of staff to Vice President mike pence, mark schor can you give a reality check on backandforth over these phone calls. Sure the president said there have been some calls there continue to be conversations dagen the Bigger Picture i cant sit here tell you when there will be a deal i am optimistic eventually we will get a deal, but i think the president has been very clear about this is position here for many years weve had administrations basically provided china with about favorable terms in which theyve continued to vie rate those continues forced transfer ownership manipulation currency this president says he is not doing that to protect the American Worker because many jobs have been loss to the other countries he he is going to stand up to china unlike previous administrations. Dagen in order to stand up to china, and fight the theft of our intellectual property, the forced surrender of Technology Espionage to let around the globe if you look from 35,000 feet this is something that is likely not going to get resolved by the election next year. Is that safe to say how would you react to that . No, i wouldnt i wouldnt be that i think right now the reality is we continue to see stats manufacturing, leaving china and many cases going to parts of ib asia returning here to United States where this pet helped make a Regulatory Burden a lot lighter tax reform to encourage Companies Come back home so we think that chinese hurting, their economy is growing slowest pace in over 30 years, so we feel that there is a lot of pressure on china for them to reach a deal and to hold their commitment to that deal something we havent seen in the past no, i wouldnt say that a deal is not possible before election of 2020 i think that the pressure this administration, this president have applied to china has put the them in a position where they are more anxious to make a deal. He farmers in this country clearly are seeing the pressure from retaliation particularly from china we can get into the new trade deal with japan. But farmers are upset and china clearly targeting areas of the tun voters came out the for President Trump in 2016. Is it possible we see more aid for the farmers . I think by my calculation there are two with Financial Aid packages so far to the Farming Community totaling 28 billion dollars is that something additional funds something that is possible about . Days agoen do i think china will continue to target them, and i think that the president widespread support across agricultural communities across United States thing we can do most is actually get congress to pass usmca deal in many cases their markets you were closed Dairy Farmers this president opened with canada significant trade with mexico as well. So the best thing that we can do for them is continue to open up access to markets as this president else doing with japan in an effort of trying to do nu many cases, our markets our products have been closed, he is trying to he lower those barriers to entry so we have more free tradition i had. Lets talk about that the push for a vote on usmca. Vice president mike pence looking to swidemocrats to pres unanimous bring trade agreement to a vote the wall street journal also has an article about democrats like colin allred in texas, who really trying to push this talking to businesses, about the need for a vote on it. Can you give us any daem etail behind scenes. Ambassador rite liglighthize encouraging negotiations with pelosi Congressional Democrats we remain optimistic we will get a vote the Vice President as you know spent much summer traveling across the country many cases to democrat districts to talk about benefits of usmca to those districts you look at somebody like have colin person democrat chairman ag committee in minimum so the great deal for Dairy Farmers there you look auto manufactures jobs flee our country labor unionize sport for new deal much midwest that is where the Vice President has been traveling to make the case to those constituents, so Democrat Members go to Speaker Pelosi say we need to have a vote on this again we remain optimistic we will, but dagen step fact a second say if you essentially this democrats deny a vote what their he telling their constituents is we prefer nafta we prefer the deal that weve seen thousands of jobs flee thousands of jobs flow to south of the border that is preference to leave status quo of nafta says that essentially what they are saying if they deny a vote again we think we will get a vote fall we are confident if we get a vote will pass we i think this pet negotiated better deal with mexico canada time to get it done, as you said, it will benefit many communities in our country, agriculture and auto manufacturing. Dagen turning to border the department of Homeland Security plans to divert 271 Million Dollars worth funding llocate to detaining e relief removing illegal immigrants, your reaction to this . Because people on the other side of the aisle are losing their minds. Uh that is hysteria in reality is that this is something that republican and a democrat administrations do skajt reprogram dollars you do that submit reprogramming to congress, so this is this is pretty much standard of other administrations as well a this president said we have a National Security crisis on our border, democrats for many, many months have denied there was any sort of the crises now they at least accept there is a crises this president takes every action he can told American People make sure our southern border is secure, and part of that process is reprogramming dollars when you have available. I want to move on to lets talk about former new york Federal Reserve president bill dudley wrote oped for bloomberg he titled the fed shouldnt en able donald trump some of what he wrote trumps reelection arguably presents a threat to u. S. And Global Economy, to the feds independence and ability to achieve employment and inflation objectives if goal of Monetary Policy to achieve the best longterm economic outcome then fed officials should consider how decisions will affect the political outcome in 2020. The Federal Reserve had to take unique step to fire back in a statement, saying this is the wall street journal, the Federal Reserve policy decisions are guided solely by congressional mandate to main cries stability maximum employment political consideration play absolutely no role, your thoughts on this . Well, when you talked about threatening the economy look at what happened over the last few years, the average household, income is increased over 15,000 dollars, last two years donald trump as president you have seen unemployment now at historic 50 years lows under 4 longest time loest unemployment for hispanic americans ever lowest unemployment for African Americans over six million new jobs. Threat to economy . It will seems this president has done a dramatic turnaround to this economy if prenatal what weve seen a diversion between other countries Monetary Policy in essence providing negative yields at this point this president said fed should be focused on inflation by all accounts there is no measure of inflation your quote i think cites a concern for some of us, about a duel mandate that says inflation i want to play devils advocate if you listen to other side of the aisle they would say President Trump has in some nans rightfully attacked the fed policy particularly last year when they i think hindsight clearly made a policy a mistake President Trump ahead of that but President Trump has taxed say what he said about about jay powell about versus xi jinping on twitter somehow the president has opened the door to these kind of political politicization of the of the a central bank and these kind every attacks from somebody bill dudley who doesnt work in fed anymore what do you say to that. I think other president s have comments Monetary Policy many times this president feels strongly the Monetary Policy we are pursuing is hurting the economy he is going to speak out on. It good to see you we covered a lot of ground president tw tweeting so interesting to read and see all the free swroois from people tried theenl it you before failed missly they got taken to cleaners were doing very well with china this never happened to them before i am sure the president has more coming on twitter so that peloton ipo plan startup revealing losses but so is revenue fighting for americas farewells we take you live to illinois for a closer look into how farmers are modernizing the industry escalating trade tensions weigh on farmers pockets. Your business is up and running, but is it going beyond fast . Comcast business gives you high speed internet. 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Voya helps them to and through retirement. Dealing with todays expenses. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. Attorney general speaking out following reporters farmers in talks to settle more than 2000 opioid cases. Cheryl so he attorney general josh stein made it clear, to you earlier this morning, that is must beheld kvbl. I believe, that purdue is majorly responsible for the epidemic that is takinging lives across this country we lose about 15 north carolinians every day to opioid o over dose. They are negotiate to resolve case could be worth up to 12 billion dollars the former headed spoke four years ago suspended the marketing of oxy contin at the time. Which i did speak i didnt go on sales calls, conferences therl extremely enthusiastic about the effectiveness patients had to the product, that was what i was referring to. Because as i told you before, our goal was to make better product. Purdue accused of playing a key role in helping fuel americans opioid crisis. The First Federal opioid trial is set for cleveland later this year. Well President Trump declared a state of emergency strops dorian barrels towards puerto rico quicker federal aid to help recovery dorian left he a mess on island of martinique washed out roads you can see there on track to hit florida likely this weekend one model shows could pack hurricaneforce winds when it arrives we are monitoring that for you also watching, tiffany stocks getting a boost this morning, the jewelry reported jong quarterly numbers adequate earnings per share a wide margin missed revenue projections blamed strong u. S. Dollar hong kong the company did 1250ik with fullyear forecast despite spending dragged on sales shares higher almost 2 premarket right now sh, beering upon going green, the company manufactures aluminum cans metal packaging going to start recycle labl cups retail for 17 cents per cup confident that environmentally friendly younger consumers are going to pay the premium to help save the earth. Beering upon . A tie covered in red i dont know what is going on. In honor of children returning to college, i figured would i wear the the. You have a Christmas Gift for them. For the record i do not condone under ailing drinking for the record. Or vaping. Or vaping. I am not going to signing that hideous song one i have the worst every recorded. President trump tweeting about Tropical Storm dorian we are tracking he closely Tropical Storm dorian as it heads as usual to puerto rico fema, all others are ready and will do a great job when they do let them know it. Give them a big thank you. Not like last time, that includes from about incompetent mayor of san juan. Coming up hitting the trail the depth democratic debate deadline looms who is in who is out new polls modernizing americas heartland how farmers are trembling t many transforming the industry, next. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Sleep number 360 smart bed. St sale of the year on a it is already working in cities like tokyo. Can it help keep us asleep . 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Good morning dagen he have latest greatest Farming Technology on splay i want to show this next to us, this has been described to me as tbat mobl one of the products to look at here the idea of this show is to show the promising future that farming has obviously, lately with everything going on with china, and lack of passage of usmca things have been difficult for farmers not to mention it was a you tough growing season, so far. So i want to bring in evan on front lines this have trade war a grain farmer you basically decided to forgo soybeans this year case china is a big importer of u. S. Soybeans not buying. We couldnt make sense with with 2 abysmal market effects of the war. I want to show one graphic puts things in perspective for people soybean exports worldwide down 24 , that is largely because we just dont have a deal with china how long are you willing to put up with, you know, this backandforth with them before you need to strike a deal for your own sake . Sure. Hard thing to say, but the sooner the better. This uncertainty in markets our industry with trade war is make i go it hard to plan hard to gr our business. One thing you are growing this year is corn. Good news there is that mexico a huge importer growing year after year usmca stalled Vice President has been pushing to pass it lately, do you have faithed in our congress to putting this forward to pass it how badly would you like to see that. I think so i think it is a pretty good deal they brokered, you know we are looking for all handson deck you know kind of put politics aside make this happen give us a little more certainty, and something to hang our hat on. Because that is the whole thing right now there is so much uncertainty between the two major trade deals, that dont seem to be making as much progress as you would like. How much you know, you are not able to really buy any equipment this year because you dont know what the future holds. Yeah, well as i was telling skwon earlier we can plan a little bit in downturn economy handle that but this is just so uncertain weighing on ability to be profitable plan as a business, making things extremely stressful. We wish you best of luck dagen a lot of farmers feeling this impact lately, but they are all out here today we will be talking throughout the day bring you more you know about as the emotioning goes on. Dagen would you call it batmobile of combines. Exactly looks like could be in star wars, too. I spp to you learn how to grab that combine while you are at the show. I will be riding it around by the end of the day you got it. Just letting you know. Thank you, sir. Great interview hitting the trail deadline for the september democratic debate looming, as new polls find biden in the lead. Plus peloton ipo, in the details, fitness startedup losses but so is revenue rising. Buckle up for some insurance themed fun children yeah announcer ride the totally realistic traffic jam. Beep, beep, beep, beep children traffic jam announcer and the worlds first never bump bumper cars. Children never bump announcer its a real savings hootenanny with options that fit your budget. Thats fun for the whole family. Announcer only at progressive par. Maybe an insurance park was a bad idea. Yeah. Yep. On a scale of one to five . Wait. One to five . When it comes to feelings, its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry, clive actually, really angry. Thank you. And seat 36b angry. Youre clive owen. And youre barefoot. Yeah. Theres also apprehension. Regret. Relief. Oh and theres empathy. Ah, i got this in zurich actually, whats the opposite of empathy . But what if your business could understand what your customers are feeling. And then do something about it. You can turn disappointment into gratitude. Clive, you got to try this. I cant im working. Turn problems into opportunities. Thanks drone. Change the future of your business. Change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Dagen mcdowell for Maria Bartiromo he wednesday, august 28 top stories 8 30 a. M. Eastern. Futures motivating lower as uncertainty about with u. S. China trade continues, just definitives before a new round of tariffs go into effect, investors rushing into u. S. Treasury yield on 30 year, hitting a low in overnight session i think Mitch Roschelle as low as 1. 9 1. 910. The germ bond new low deep in negative new negative low deep into negative territory, so there is this rush in treasurys that is pulling money out of markets european markets down across the board, even ftse 100 england again germany 10 year bond falling to negative record over in uk Boris Johnson asking the queen to suspend parliament in order to limit the opposition time to try to avert no deal brexit. And asia overnight markets mixed gains in japan and south korea. Peloton, going public. The high end exercise Equipment Company revealings losses rising and revenue, 2020 clock ticking for democrats to make it into debate who is in who is out . Also who is leading in the new quinnipiac poll we will tell you how they stack up also the democrats in headtohead with donald trump p president , and hightech espionage a former goal engineer charged with stealing trade secrets the latest, futures pointing to lower he open yield on 30year treasury long bond alltime low, amid growing uncertainty not just about u. S. China trade but really the Global Economy, Kristina Partsinevelos on the floor at New York Stock Exchange with more. You said it you have the spread between two year and 10 year, increasing to level we havent since 2007 you are seeing 30 year hit a low this is the yield so that is pushing a lot of bank stocks lower across the board, though we have seeing the futures market in the red for all three nasdaq dow and s p 500. Peloton is another ipo that is going public, and still making losses the Company Released filing you are seeing sales grow 110 yearoveryear but losses declined dramatically one year last year loss 246 Million Dollars versus 48 million year prior they claim they have a first mover advancing 1. 4 Million People have become members of the peloton not cheap bikes cheapest on web site 2245 dollars does not include monthly fee so that you have live instructor or classes on the screen in front of you, to end quickly some evident potential risks for company not only the fact they pay a linesing fee for you music they have operating expenses they expect to increase people dont always spend money on fnts entire year so ebbs and flows when it comes to hiring staff. Kristina partsinevelos at New York Stock Exchange, 2020 race today is deadline to qualify for the third democratic debate, 10 are in 10 are out were those dont make the cut this time can still qualify for the october event, and new polls released this morning from Quinnipiac University show he former Vice President joe biden with kamala haris buttigieg, beating the president in matches up you can see headtohead matches up can we look where biden is versus sandsers warren again, this flies in face of monmouth poll joe biden in the lead moing us now former political director for mitt romney sr. , advisory to marco rubio current researcher fell he Hoover Institution lanhee chen. What do you make. More of the same biden benefiting from high name identification people know who he is at this stage when you still got a lot of candidates, that counts for a lot now we did have that outlier poll i am sure you have talked about a couple days ago that showed biden slips behind Bernie Sanders and Elizabeth Warren i think the most interesting question whether bidens number how that compares to the numbers that a sanders plus warren are getting that is ultimately going to be the contest here more moderate candidate like biden, versus a bloc off progressive candidates will probably pool votes monmouth poll showed biden down a few days ago the danger sign for biden there he was losing to combined share, and that combined share was a large plurality of the votes so we have to see how that develops but there is no question that joe biden, still is benefiting from being the name you know. I want to get you in here on this there is usa today University Poll also kind of turned that monmouth poll on headed biden back in lead in quinnipiac poll i think lead 32 what do you make of it before we o move on . Is if a xhp things, one biden frontrunner a lot strongerer more durable than people made it out to be the beginning lonnie saying a lot due to high name id i am not sure true he does have high name id so does Bernie Sanders, so does lz lz the monmouth poll because this was outlier does not the mean that is in highly respected poll important poll sometimes, you can have outlier that does spark a traebd it did see more ascension for Elizabeth Warren i think the most important trendline of all this have. I move to health care in 2020 an yeahed about how health care is personal issue for him take a look at it. The fact of the matter is health care is personal to me. Obamacare is personal to me. When i see the president try to tear down replace to start over that is personal to me too. You got build on what we did ever american zefrz affordable snook more of a hot at Elizabeth Warren Bernie Sanders sanders raising hands in earlier debate saying yes, we will get rid of private insurance in this country. Where do you what do you make of our Health Care System right here right now . Because, again, obamacare aca was note repealed under this administration. Well, you know, dagen i think people like the health care they have. That is one thing we know about the current Health Care System. It is not perfect the costs are too high, access can be limited in parts, but people enjoy the private Health Insurance coverage they have which is why joe biden making this argument is really going to be a good one for him in the the fall i think because it sets up a greats contrast building on obamacare versus Sanders Warren you rightly know are interested in tearing up all Current Health system starting over which is going to result in massive losses of coverage people have to go on government coverage not something i think a lot of americans want i thought that ad from biden was compelling not only because automobile to outline essentially the contrast but tie himself to president obama and able to tell a personal story i thought much better than previoused a talked poll snooubs story from rubin in the wall street journal about democrats coming out with plans to raise taxes and revenue, covers taxes for the journal i encourage everybody to he had are a it they are looking beyond income, targeting Elizabeth Warren, for example, targetings wealth Elizabeth Warren has wealth confiscation idea for very, very wealth americans but this is something that would be probably would be unconstitutional two didnt work in europe didnt work in france. Yeah, that is exactly right, i mean this kind of class well faa where the we expect from democrats right out of playbook of Elizabeth Warren, Bernie Sanders but, again, the challenge with taxes is countries have tried them and they end up not either being that successful, or they dont raise as much revenue as previously thought because people are able to engage in evasion techniques about so the challenge is this people want to do well in america, our Free Enterprise system about working hard playing by rules being able to build wealth not just for users but for future generations what sanderswarren confiscatory wealth tax does is say we dont believe in that value anymore we think you can work hard, but some point the government is not going to tax you just once it is going to tax you twice. That is a challenge i think they are going to have in explaining this going forward. Dagen you say confiscatory better than i say politicization. I always try to say politicization, and i always foul it up thank you it was good to see yyou can i request you quickly how hard hit is chinas economy i saw you on special reports the other night we focus on what about us but what about them . Oh look, they are definitely having a very difficult time i think the challenge for us, is we dont actually know how tough off a time they have because the mirs they reportedly we cant trust so even if they say look our Economic Growth is down to 6 , it is probably more 2 or 3 , we have to remember as country in a big with that much migration from rural to urban if that growth rate is not high they are going to have massive instability massive difficulty my sense they are having a locality more trouble than they let on. Lanhee great to see you. Is if uk he Prime Minister Boris Johnson requesting convene to suspend parliament, Stuart Stuart varney weighs in a former Google Engineer charged with stealing trade the secrets a special patriot from the tennis channel. Welcome back to tennis channel router for fox business, female stars headlined day two on tuesday 2019 u. S. Open. Defending champ osaka three tough steps to get get it world number one seeking a third career grabbed title her second about this season. 15yearold coco first main draw win tuesday after defeating 18yearoldrussian. After dropping he opening set wild card, wins 64 in the third next up cocoa hungarian qualifier tune in 8 00 automaam eastern. Its time for the biggest sale of the year on a sleep number 360 smart bed. You can adjust your comfort on both sides your sleep number setting. Can it help keep us asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. And snoring . No problem. And done. So you can really promise better sleep. Not promise. Prove. And now, all beds are on sale its the last chance to save 50 on the sleep number 360 limited Edition Smart bed. Plus 0 interest for 36months. Ends labor day. Boris johnson as red to suspend parliament in october could limit opposition from blocking a no deal brexit joining me host of Varney Company Stuart Varney what say you sir. Well, i have had a few questions from where american cliques and friends whats going on over there . What is real power of the queen because it is not Boris Johnson who is suspending parliament it is on the orders of Boris Johnson but the queen is suspending parliament. So she has some constitutional power. It will be the equivalent of the american president mr. Trump saying to congress, get out of here, take two, three weeks off because we dont want you getting in the way you see how things differ when a written constitutional here unwritten constitutional there the bottom line is this, the queen is going to pevidently rparole parliament they are out of business go to constituents that allows time for Boris Johnson to work unheeded towards getting out of Brexit European Union by october 3, if parliament were sitting would come women all kinds of legislative way to stop them from getting out but no they are going to be go home you people the queen and they will go home and Boris Johnson ever more likely to get out of the European Union by october 31. Going to happen. Dagen you also will talk about football american football. Not the brir kind coming up wi theismann, htcr you can google. It redskins. Wow i cant get anything past you i love you so much. Wait i got to tell the truth justin producer came right in my ear said that is it. I wasnt trying to stump you, we suffer in silence still cheer for the same, i cant wait for that interview your entire show my dear friend Stuart Varney, Varney Company top of the hour 9 00 a. M. To noon monday through friday. Mr. Varney. Coming up rough rods ahead forgettable going engineer charged with stealing trade secrets passing to rival ridesharing giant the very latest next. You got to im looking at that truck wow thats awesome this labor day, everyones excited about chevrolet. Theyre all really cool cars. Woo, i love it i cant stop staring at it. Ride out the summer in a new chevrolet this labor day. Wooh its time to upgrade. Get zero percent financing for seventytwo months plus two thousand dollars on all 2019 silverado double cab pickups. And, during the labor day sales event, make no Monthly Payments for 90 days. The labor day sales event ends september 3rd. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for Auto Insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Welcome back trade secrets in Silicon Valley a former going engineer charged with leaking inside information about googles selfdriving car unit waymo to uber joining us now the cyberguy, this is an incredible story. Dagen, good morning to you out here in california san jose yesterday, arrested dooitdz released we are talking about a guy has a 10 year track record, of really being the Industry Leader in innovating selfdriving technology jason levendowski his name worked for the waymo division and gave notice opened his company was acquired by uber, this now puts uber back in that scandal zone, they have been trying so hard to escape. And no telling if at this point, whether any charges will be filed against uber, but for him he has pleaded not guilty, to the charges, of taking trade secrets, and passing them along to federal government say 14,000 documents downloaded he carried off to future company to make value for uber. David nelson, is it true when engineer or scientist develops something at a company the company owns all the rights and the the rather scientist who developed it is completely out of the picture is is that always the case or exceptions sometimes . You know i think there are exceptions, and arrogantlying to you we are ta good morning to you a agreement he may have had at the time that might govern all i dont have that information, we dont have that as of yet as to what he did or did not have we know that defense attorney has said any download that he had done the government accuses him of doing happened at company, and not while he was at a Different Company in other words, that is a distinguishing mark according to defense attorney. Helping first responders. Very smarttive shooter happens realities now, and facebook now is coordinating with local government, for fire and police so they will have able to to push Emergency Alerts out to followers facebook promising to vet those to make sure those are legitimate agencies prior to allowing them to send out those alerts, but so many people on facebook having the ability to get a notification of something emergent around you that very moment might save lives in this case, i just want to make sure that facebook doesnt screw it up by doing many times about what thif done in the past not really governing very well, and allowing some bad actor to get control of Emergency Alert creating havoc not waking it trues trust worthy. Good to see you next time in person i hope still ahead final thoughts from allstar panel. Stay with us. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. 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Dagen that was a shot of the Chesapeake Bay bridge and the bridge tunnel. Oh, no, it was annapolis. Bridge tunnel used to scare the youknowwhat out of me. Love bridges. Final thoughts from this allstar panel. Dave, you first. Be very careful how you use the word. You talk to most americans about recession, they think of 2008 and the financial crisis. The next recession, whenever it is, wont look anything like that. That was a credit event married to a consumer recession. On top of that you had banks that were nearly insolvent. The next recession will be far more mild. Dagen it could be a credit event but it could be a credit event in government bonds. Jessica . I too love bridges. It looks like we are going to only have ten candidates for the democratic debate. Im sad not to see Steve Bullock onstage. I think he has a lot to offer this conversation being a red state governor. Dagen its exciting to watch these debates. I dont care what party you belong to. It just is exciting. Lets hope its a lively debate. Im sure it will be. Mitch . A lot of the recessions that have been happening in recent history have been driven by asset bubbles. We have an asset bubble right now in bonds. We are focusing on yield. The other side of yield is price, and price of bonds is very high. Im not calling a recession but we do have a bubblelike feeling with bonds right now. Dagen thank you all. Dave, jessica, mitch. Right now, mr. Varney, take it away. Stuart indeed i shall. Good morning, dagen. Good morning, everyone. The market with a very loud voice is telling the Federal Reserve lower Interest Rates and do it now. The reasons obvious. Rates everywhere else are lower than rates here, a lot lower, and that is disturbing the dollar, the stock market and the economy. Look whats happened to Interest Rates. They are tumbling. As money keeps pouring into america. The twoyear yields 1. 50 . Look at the tenyear, 1. 456 and the 30year treasury is down to 1. 91 . Okay. Interest rates are tumbling. Message to the fed, cut rates now. Before we