Transcripts For FBC Bulls Bears 20240713

Lobbying rules and regulations. So you will have to ask about that. I just heard trey gowdy cant start till sometime after january because of the lobbying rules and regulations. So i dont know. We will have to see. [inaudible]. Go ahead. [inaudible]. Perhaps the last one, i hope. I hope the last one. Of the three, i hope it is going to be the last one. Look, we have no soldiers in syria. Weve won. Weve beat isis and we beat them badly and decisively. We have no soldiers. The last thing i want to do is bring thousands and thousands of soldiers in and defeat everybody again. Weve already done that. So what we have is really two choices. You have the choice of bringing in the military and defeating everybody again, or you have the choice of financially doing some very strong things to turkey so that they take it a little bit easy on really competition that is i dont think its been fairly treated in many ways. Okay . We have a very Good Relationship with the kurds, or we can mediate. I hope we can mediate, john. I hope we can mediate. Do you support sanctions . [inaudible]. Say it . [inaudible]. Turkey knows where i stand. And the last thing okay, very simple. We had a big victory. We left the area. I dont think the American People want to see us go back in with our military, go back in to that area again. We won. We left the area. I dont think we want to go back in. Lets see what happens. Were going to possibly do something very very tough with respect to sanctions and other financial things. [inaudible]. You would support sanctions . [inaudible]. I think we can win. Its been a long time since a republican won. We have a 20,000 seat auditorium. You know, we have essentially Madison Square garden and its sold out. Over 80,000 people requested tickets. It will be totally sold out. I dont know who is going, but it will be totally sold out. If you are not going to be there, im going to miss you, but they have a line now thats many blocks long. Its amazing. We have a line right now in minnesota thats many blocks long. I think i can win minnesota, yes. [inaudible]. I think omar is helping us win in minnesota and other places. Would you accept a smaller deal i will see you in minnesota. Smaller deal . I will see you in minnesota. David the president talking moments ago. He is on his way to a big rally in minnesota, a state he thinks he can win over for his reelection. Talking about a lot of things. You heard him talking about turkey and the decision to pull our troops out of syria, which some people said was a green light for turkey to go in and there is killing going on. Turkeys bragging about it. We will be talking about that later in the show. Also of course talking about china and the president telling reporters there that the trade talks today went very well. He says that he intends to meet with chinas top trade negotiator tomorrow, and we welcome you, folks. Thank you for being here on bulls bears. Im david asman. Joining me on the panel jonathan hoenig, kristina partsinevelos, Gary Kaltbaum and liz peek. Stocks surged while high level trade talks were still in progress. Trump tweeted the following big day negotiations with china. They want to make a deal, but do i . It is kind of cryptic. I meet with the vice premiere tomorrow at the white house. Is the table set for some kind of a deal . The table has been set for a deal for months. The question is, are the diners going to come to the table . The news today and the sort of positive reaction in the stock market was because over the last several days, any number of negative stories have surfaced about the trade delegation possibly going home early and how trump really wasnt going to meet with the vice premiere and all kind of bad things were going on in terms of us putting sanctions on Tech Companies in china, etc. Etc. So, you know, is that all posturing . Is it positioning in order to get together finally tomorrow and say look were willing to walk away from these things if you will do x y and z. That is now the hope. I think the chorus of people who want something done on china is getting louder and louder. I think the president s hearing that. I think they need to do this and particularly with the impeachment news and the pressure coming from congress this has got to be resolved. I still think it is quite impressive how traders still react the moment you get a tweet, even though the tweet has said absolutely nothing other than trade negotiations are going well. He uses the word good, well, all that and yet you see a huge up tick in the markets. I do believe theres going to be decent progress in order to claim a political victory. The progress most likely will revolve around the agricultural products. Today china has increased its purchases of u. S. Pork as well as 400,000 metric tons of soybeans so they are following through on that. However, the deal probably wont include the major point which is intellectual property, forced joint ventures i still think the president will come out and say it is a win. It is going to be a smaller deal. David lets bring in former Commerce Department Deputy Director chris garcia. New and higher tariffs are supposed to kick in on october 15th, less than a week away. Do you think they will be delayed, the new tariffs . Yeah, i read this as a positive signal. I think the chinese were going to have to make those purchases anyway. Theres a major concern right now about whether or not thes going to be that theres going to be that tariff increase. Theres also the agricultural purchases that china needs to make sure they buy because theres a sourcing problem, supply chain issue there. Even though theres significant tariffs on u. S. Pork, soybeans and so forth, they are at a much more attractive price than some of the other costly sources that they have. But this is not just about the interim purchases. I mean this is a significant Cultural Divide that were seeing. We wanted the same terms that china agreed to back in 2001, even lighter terms is what they agreed to in may but they walked out and backed out of this disagreement. When the vice premiere came if and he said that hes coming with great sincerity in these negotiations, they bring a delegation, i wish he could have said that hes coming with good faith and great honesty. The brilliant kristina said it exactly right. She nailed it. Were not going to get a marvelous fabulous big deal, were getting tweets from the president right now. You can overlay them to the tweets he put out every month over the last 18 months. They are all the same. But now were getting closer and closer to an election, and time is up, and we have to care about the markets and the economy. Thats been heading south. Manufacturing, so i suspect well get something on buying more agriculture. Theres not going to be any more higher tariffs, and we may even pull back on some. Were not going to see anything on ip. China is never going to change who they are. That is the one thing ive been standing by from day one, and were going to stick with that. It is going to be called the greatest deal on earth, but it will be just okay. David chris . Well, it will only be the greatest deal on earth if china agrees to the significant structural changes that they previously agreed to. If we could get them to agree to what they said they would do, what they signed on to in 2001, it would be much better off. In fact, what i would say is theres not going to be any deal. Were not going to be caving. Bob lighthizer and President Trump are not going to cave to any type of interim deal when they know that china is in a corner and has to eventually make a great deal. And chris, there wont be any deal. First of all, lets not underestimate the impact that as gary said all these tweets has on the market. Last night the 24 hours last night, you saw the market go up and down over three times 300 points all exactly. So it is having a cost. I have to tell you, i dont think the president wants a deal with china. As gary said, hes talked a big game, but he talks about how they are ripping us off, how were making money from his tariffs, those are his words and even as hes talking about lifting chinese tariffs, hes adding tariffs on scotch whiskey and french wine. Does the president want to get rid of tariffs . Does china want to get rid of the tariffs . Do they want to play by the rules . [speaking over each other] david one at a time. Everybody wants to blame the president. Why dont we look at the real bad actor. China doesnt play by the rules. Anybody who looks at the facts objectively has to look at president xi and the hardliners in beijing that dont want to play by a very very simple idea that when you keep your word and sign on to something, you agree to a certain agreement, you keep your word. David the other thing i think jonathan is overlooking and kristina i would like your thoughts on this, the fact is the president does want to get reelected. We know thats a fact. Maybe he claims too much or too little credit for the market depending on what the market is doing any day, but he knows that i think he knows he needs some kind of a deal in order to keep this economy keep it humming; right . To your point, often the marks and the economy often the markets and the economy are used interchangeably. Thats not the case. It should not be. We learned that in school. Gary, thank you for the shoutout, but i dont think a deal will encompass much more than the agriculture products. Maybe there will be something about fentanyl. Nobody seems to mention that. David they claim theres already progress thats a good thing. Overall, like chris and jonathan have pointed out, how can you change a country that has been so embedded in their own ways for so long and got away with it . So yes, kudos to the president for trying to change it but maybe trying to do too much at once especially bringing europe into the picture i would note that under this administration, not only have we ramped up tariffs, we have also brought to the worlds attention the wrongdoing that we perceive china is doing. I think thats been valuable. But secondly we have also gone to the world trade organization. Weve also had the fbi arresting Chinese People in america who are stealing trade secrets. We have gotten much more aggressive at calling out these bad actors. And i think that going forward, even if we have a smallish deal, involving commerce mainly, as long as we keep a really hardline on going after people violating the law, i think thats david we have to quit, but i just want chris to have the final word here because you are our guest, chris. Is the president going to end up the day with something in his hand, or at least an illusion to a smaller kind of trade deal, something less than we expected . I think there will be an amicable tone tomorrow with the president and vice premiere. Unfortunately he doesnt come with the special envoy tight that will he did previously, but title that he did previously, but i think there will be something that signals to the market that a goodwill conversation is happening but structural change wont happen tomorrow. David thank you for being here. Turkey attacking a u. S. Ally for a second day after President Trump pulled troops out of syria. The president just defending the move. We will play you his remarks from moments ago and get reaction from retird marine Lieutenant Colonel dakota wood. Hes coming next. To open an account. At fidelity those zeros really add up. Maybe ill win saved by zero performance comes in lots of flavors. dramatic orchestra theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Colon Cancer Screening for people 50 and older at average risk. Honey, have you seen my glasses . Ive always had a knack for finding things. Colon cancer,to be exact. And i find it noninvasively. No need for time off or special prep. It all starts here. You collect your sample, and cologuard uses the dna in your stool to find 92 of colon cancers. You can always count on me to know where to look. Oh, i found them i can do this test now ask your doctor if cologuard is right for you. Covered by medicare and most major insurers 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. David President Trump defending his move to pull troops out of syria. Turkey attacks a u. S. Ally for a second day. Heres what he said just moments ago. Listen. We had a big victory. We left the area. I dont think the American People want to see us go back in with our military, go back into that area again. We won. We left the area. I dont think we want to go back in. Lets see what happens. We are going to possibly do something very very tough with respect to sanctions. David so there is a bipartisan senators pushing for sanctions targeting turkeys president and military. Here now is retired Lieutenant Colonel dakota wood. Thank you. The turkish president is actually bragging about killing what he calls terrorists in syria. Arent the people being killed are allies who helped us destroy the isis caliphate and should we do more to defend that . First reports are always wrong. We need healthy skepticism on this. We dont have eyes on the ground. What the turks and kurds are reporting, it takes a while to sort through the details. Turkey has had an issue with the kurds since turkey was formed in the 1920s. This is nothing new in terms of the peoples against each other. But i think erdogans approach here is certainly very heavyhanded thank you for joining us. This is christina partsinevelos. Do you believe this decision to pull out is reckless on three fronts, the first one being the isis resurgence, the possibility of that, the second front being that you are catching your allies by surprise when we really need to at least keep some allies on our plate and then the third point is the [inaudible] it seems like a lot of people at the white house were unaware of this move. Well, people criticize not being aware are usually the ones who wanted to be consulted first. So when they are not part of the decision, then they criticize they werent part of the process. But i dont think its reckless. I think that the president talks with his advisors. He usually doesnt get very quick responses or the establishment drags its feet. And he finally makes a decision and moves on. What hes trying to account for are what our interests . We dont want refugees flowing through europe. We dont want this to be a sanctuary for terror groups, and we want some kind of a sanctuary in place for the kurdish people. And i think those can be accomplished without a serious significant u. S. Military presence. Lieutenant colonel, this is Gary Kaltbaum. Thanks for being here. Theres one big thing that i just dont understand. We have been told for a long long time, erdogan is just a bad guy with bad intentions, and it looks like we just put the ball in his hands, and the first thing he does, the first initial thing he does is attacks and kills. We dont know how many. It could be 100. It could be ten, but thats his first move. Doesnt that worry you in any way, shape or form that this is the guy thats heading this up at this point in time . Yeah, hes not making a lot of good decisions. Buying the s400 air Defense System from russia, more authoritarian in his rule, imprisoning of senior military officials and academics following the reported coup. He doesnt have a good track record, but turkey as a country has been a longstanding ally that we certainly used as a strategic gateway into the region. So the pkk which is the terrorist element that even our own state department has recognized as such since 1997 has been problematic. They do get some support from factions of the kurds and trying to sort good from bad in that very chaotic region is difficult. So we hope that he doesnt use violence, trying to understand where his perspective is, but as the president has said, we have a lot of tools to try to rein him in economically and through diplomatic pressure another question, it seems we all know that President Trump is extremely transactional and it seemed to me there was a bargain made where he was going to allow turkey to do this, create this buffer zone, if you will, in exchange for turkey taking hold of and maintaining the tens of thousands of prisoners that are currently interred in syria, which are really a big problem. Trump has been asking europeans to take these isis fighters and so forth. Nobody wants them. My guess is erdogan said he would do that. Do you think thats maybe what happened here . In part. A lot of those Detention Centers are actually outside of the safe zone, whether its 10 miles or 20 miles in, been part of a debate. But yes a lot of European Countries are criticizing the move. They dont have troops on the ground or skin in game. They wont repatriate their own citizens who came to help islamic state. Turkey has been playing host to about 3. 7 million war refugees out of syria and not getting a whole lot of assistance from eu or nato allies or anything like that. I can understand theres mounting frustration. The use of military force into these areas to target civilian populations is completely unacceptable. From what the president has said he understands that and wants to try to rein in erdogans instincts here. Hes talked about sanctions, but what about something for example like calling for the withdrawal of turkey from nato . You know, the kurds are essentially much more western. They are much more western certainly compared to erdogan and increasingly the islamic turkish government. What about kicking turkey out of nato because of the violence against the kurds . Thats been interesting. There isnt a formal mechanism for kicking somebody out. You would have to get the nato members together and decide if you are going to take that kind of extreme step. We have an incident where theres a moment in time against the backdrop of 70 years or so of nato history, so do you want to, you know, do that nuclear, you know, weapon; right, in kicking somebody out when maybe there are other ways to resolve this in a much more diplomatic peaceful economic sort of way . David colonel, thank you very much for being here. We really appreciate your expertise. Please come back and see us; all right . Great pleasure of mine. David thanks a million. Guess who wrote a new oped saying theres one sure fire way for democrats to take down President Trump, and it has nothing to do with impeachment. Our own liz peek is our special guest next. Stay tuned. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. If you have postmenopausal osteoporosis and a high risk for fracture now might not be the best time to ask yourself are my bones strong . Life is full of make or break moments. Thats why its so important to help reduce your risk of fracture with prolia®. Only prolia® is proven to help strengthen and protect bones from fracture with 1 shot every 6 months. 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All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. Plus, get 250 back when you buy an eligible phone. Thats simple. Easy. Awesome. Call, click, or visit a store today. David while President Trump faces an impeachment probe, liz writes that may not be the direction to go in to beat him in 2020. It is a new oped shes written for the hill. And you say impeachment is unlikely to change any votes. I just want to say your piece is Excellent First of all. Thank you. David you begin with that great market forecaster paul krugman who says what about whats going to happen with the economy . The latest piece from paul krugman was here comes the trump slump. It really offended me because it is one of 8 million pieces in the New York Times and bloomberg and cnbc recently alerting people to the possibility of a slowdown. In august we had more mentions of the word recession in the media that we have seen since 2007. Why . Thats the way to beat donald trump. If the economy goes into a recession, his odds of being reelected are diminished clearly. What could bring us into a recession, Lower Consumer sentiment, lower sentiment on ceos, they know this is a fragile situation. If you look at the polling on the u. S. Consumer who has continued to be very upbeat, sentiments is still extremely high, continuing to spend, continuing to save, etc. , you know, there is no recession in sight. David by the way, that is paul krugman that you are seeing there on the left of your screen. Go ahead, jonathan. Not a halloween mask, thats the real thing. I enjoyed your piece over at foxbusiness. Com. You are right, the democrats are rooting for a recession. No question. But devils advocate here, didnt the republicans basically do the same thing . Look the market went up for eight years under obama and every year the republicans said it is funny money. Its the fed printing. You cant believe it. This is just a big bubble. Didnt the republicans do the same thing when the economy and the market were booming under obama . I think thats a really good point. Sure, any time there was some evidence that his antibusiness administration cause people to pull back in investments we all jumped on that. By the way people are jumping on the same thing with trump right now because what he did in terms of deregulating some Important Industries and lowering tack rates tax rates finally got businesses to invest and now it is waning because of the tariff wars with china. It is very discouraging to me. Basically if you want higher wages, you need to have productivity gains. You need to have investment. Thats the we were in even a year ago and it does seem to be falling off. But were not in a recession jonathan, thank you very much. I feel like you went exactly the same route i would have been to to add some balance. Krugman is an easy target. In your piece you said quote this guy really hates trump. Every single article he writes in the New York Times is the president. Hes not a representation of the full democratic party. Liz, you talked about you talked about every other media organization, but around the globe, there is a slowdown, even yesterday sure you had the imf head, the new head said the trade war could cost the Global Economy 700 billion dollars. Thats the size of switzerlands economy as a whole. Im not saying that things arent doing well right now. But we have to be cognizant of the other factors. I think its just [talking over each other] let me do a little bit but. Were at 3. 5 unemployment. Thats a miracle. Thats number one. 50 year low. Two or three days a few weeks ago, if you turned on those certain networks, instead of mueller and russia, it was recession for 24 7, and i will tell you, they all look like they were about to pop the corks off the champagne bottles. [laughter] and a couple of days listen, i mean this. A couple of days later, i think the market went up 300 points, and i think they were acting like their dog died. [laughter] so there is definitely a move afoot, a hope, a recognition that oh, please, lets have the economy head south so something can change as far as the election, but lets be clear, republicans did the same under obama. Welcome to the world of politics. [speaking over each other] the media is plain insane on it. David one slight correction, if you want the see lizs column and you should read it yourself, it is in the hill. Com. Liz, congratulations. Thanks for bringing it to us. As more American Companies bow to chinas wishes, a tv show is taking a stand. We will play you the choice words south park had for the Chinese Government last night. You may have heard others, but you have got to hear this. Thats coming up. Lando isnt jue park capital of the world, it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on david south park taking stand against the Chinese Government in its latest episode, airing this last night on Comedy Central in response to its ban by the government. Look and enjoy. Working for a company thats regulated by a communist government okay, okay. No more selling to the chinese. Then say it. Say [ bleep ] the Chinese Government. [ bleep ] Chinese Government. I didnt hear you. [ bleep ] the Chinese Government. There. Well, you just got your partner back. [laughter] david they dont have a lot of corporate partners, like the nba, for example. The latest developments there, the Chinese Government allowing for the nets and lakers game to be played this morning in shanghai, but cancelling press availability for star players, including lebron james, a cnn reporter was actually blocked from asking Houston Rockets players about the china fallout from the teams own media relations. The nba has since apologized for that. Wouldnt you think that players who are quick to criticize this country could take a cue from south park and call out china for what is much worse . No pun intended these players were driving to the hoop on this president and this country when it was convenient, but now because of i know nothing. I have no idea what you are talking about. I have to look for more information. It is a shame to see. As you say, a cnn reporter was muzzled by just asking simple questions the players on china. You had espn put up a graphic of china owning the south china sea, pure propaganda also. It is a shame to see it. You know, this was a great opportunity for somebody to say take a screw china and change your ways because were allowed free speech here. If you dont like it, tough. Instead they took a big pass at the freethrow line. You cant blame the nba for chinas corruption. This is the risk you take as a company when you do business in a nonfree country whether its venezuela or china in this case. Gary, you are right. The nba has missed an opportunity here. They should have gotten the messaging straight from day one. Saying look we respect our employees, our partners right to say and speak their mind. Were not going to get involved politics. Instead they have gone the other way and they have been an even more detriment to their own brand. They could have had a chance to be a real american brand here. They are going the other way to their detriment arent we worried this shows the power china has to companies . Essentially its censorship, not only with the cnn reporter, but its censorship on u. S. Soil by the second largest economy in the world that were fighting a massive trade war. The fact that the nba has bowed down and chosen money over principle may be setting the bar very low and other companies are going to have to follow suit or they are going to continue to follow suit. I think this is a metaphor for our evolving relationship with china. I have watched American Companies kowtow to china for 20 years, so desperate to get in what they considered the Fastest Growing and most lucrative potential market in the world. They were right. A lot of them like apple 20 of their revenues come from china now. Its the devil you know. And they are willing to do that. But i do think again all of this is serving to inform the world and inform the American Consumers what were up against and in terms of investors, they really need to pay some attention to this. When Chinese Companies come and list in our stock exchanges, people should know that these are not companies that play by the same rules we do. That they are absolutely beholden to the Chinese Government, whether or not they have investment by the Chinese Government. It is a very different system and a different kind of country, and i frankly think its alarming that our companies are so sort of indebted to them. David scary. Perfect segway because you bring up the perfect segue because you bring up the companies. Apple is defending removing a crowd sourcing map service allowing hong kong protesters to track police activity. Then you have google removing a game that lets players role play as hong kong protesters. So much to lizs point, do you guys believe that these companies also deserve criticism . And by the way, tiffany just adding another one, took away an advertisement where someone had their hand over their eye because thats supposed to reference the hong kong demonstrator who had an lost an eye because of the police. It is going to go on. Go ahead, jonathan. The tiffany one seemed almost insane, just the fact that a model is covering her eye. That doesnt seem to make a difference. Kristina, apple has defended their decision to remove the app saying in effect the app could be used to create more violence and potentially put Police Officers at harm. This is the risk these Companies Take in doing business with china. It is not a free society. And they are having to tackle david as gary put in the dollar sign, the nba gets 4 billion dollars a year its estimated from china. It is all about the bucks and willing to go the distance with china apparently in order to keep the money flowing the big bucks. David the big bucks. Warren is vowing to reshape capitalism and big business believes her. Former council of Economic Advisor chair under president obama Austin Goolsby is here to weigh in on this and a lot more, coming next. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero the lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. David Elizabeth Warren gaining ground now neckandneck with former Vice President joe bide nn the latest real clear political poll. This as the wall street journals greg ip says businesses all over the country are bracing for warrens plans to remake capitalism from the ground up with all her proposals. The former council of Economic Advisors chair under president obama Austin Goolsby says dont believe the hype. Hes quoted in the article saying quote businesses have cried wolf far too many times for that to be taken at face value during a president ial campaign. Austin goolsby joins us now. Austin, great to see you. Thank you for being here. Dont you think that liz warren plans to carry through with her policys if elected . Well my reference was to the Business People saying the world is going to end if Elizabeth Warren is elected, and that is what i was referring to when i said they have cried wolf so many times that given its an Election Year david so you think she will follow through with her plans to reorganize capitalism to go for medicare for all, etc. . Well, the reorganizing of capitalism as i said to greg ip in that article, she calls for paying attention to more than just shareholders that we have, that business has multiple stake holders. She was attacked by her critics for socialism, and then less than a year later, the Business Roundtable of the Largest Companies in the country came out with a statement almost exactly in the spirit of what she had say one year before. Now, its not like i have endorsed Elizabeth Warren. I havent taken a position on her versus joe biden. I just think were in an environment in which corporations got a 2 trillion dollars tax cut, promising to massively increase investment and share the bounty with their workers and increase the growth rate, and none of that happened. So i think shes starting from a position of strength austin, you mentioned the companies are crying wolf, but when it comes to Elizabeth Warren, isnt she a wolf . All a company can do is offer you a trade, offer you a job, or offer you a product, but warren to davids point is talking about using Government Force, breaking up companies, wealth tax, dont these companies have a real right to be pretty scared about the prospect of Government Force in an i les beth warren presidency Elizabeth Warren presidency . I dont consider that. As i say, when she talked about the remaking capitalism, it was about paying attention to more than just shareholders, that there were a lot of stake holders, and the business critics said look, thats socialism. She wants to destroy the capitalist system. Like i say, less than a year later the Business Leaders themselves agreed with that. We heard that. You would admit that Elizabeth Warren is talking about very openly about using more Government Force in private businesses whether it be breaking them up, wealth tax, regulation. Youre saying that companies shouldnt worry about that or their bottom lines . Well, it is not that i feel nonchalant. It is that i think more aggressive, antitrust to stop monopolies and reraising tax rates on high income after they get a 2 trillion dollars tax cut with very little repay to the economy. I think those are good ideas and they are supported a majority of americans. I dont view that as being anticapitalist at all. I know it goes against the grain, but i would like to point out in the fiscal year just ended Corporate Income tax revenues actually rose 12 , sort of fulfilling the expectations of people who think when you lower tax rates, you actually get more in taxes. However, moving on, and to jonathans point, replacing boards of directors with 40 of employees, probably union representatives, thats pretty staggering, and i think a lot of people feel like that is a significant change in the Way Companies are run an Elizabeth Warren view of how they should be run. What do you say to that . Do you think thats a good idea . I would say theres two parts. On the first, go check your numbers because they are not accurate. These are government numbers. Income tax revenue Corporate Income tax revenue has come in more than 100 billion dollars lower than david this is a new report from the cbo, austin. Im sorry that you were unprepared for that. It is fiscal 2019 increase of 12 in Corporate Tax revenues. It increased 12 and its 100 billion dollars below what was expected and forecasted. David 12 above my guess is most people didnt see that coming. These tax cuts have not paid for themselves at all. Its why the tax bill is the most unpopular tax cut in the history of american polling. David were going to have to leave it at that. We have run out of time. Austin goolsby, youre going to have to come back. We love the conversation. Thanks for being here. You are a good man. Lets coming up lets see whats coming up on the evening edit. Ashley webster is in for liz the stakes are rising with the china trade war. We will talk about what to expect tomorrow when President Trump meets with one of chinas top envoys. Also a healthy dose of political intrigue. All coming up at the top of the hour. David . David looking forward to it. Do you have an amazon cloud cam . You may want to listen up because your Home Security footage may not be as private as you would hope and think. Who may be actually watching your clips besides you and your family and why, thats 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. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Call, click, or visit a store today. David first, alexa now your cloud cam . Amazon employees could be actually watching videos taken from inside your home. The camera which links up to alexa allows people to keep an eye on whats happening inside their home 24 7, but according to bloomberg, anonymous insiders say workers at the company in india and romania are watching up to 150, 20 to 30 second clips per day for troubleshooting purposes, they say, and to train Artificial Intelligence algorithms, they say. Now most of your footage intended to be private, how concerned should we all be about this . Gary . Oh, just fabulous. Just fabulous. [laughter] look, i will just repeat what ive been saying forever. They are data collecting monsters and they have all become stalkers. I shut down my alexa. I felt like it was watching me. I put it in the closet. It is unneither a bunch of laundry it is underneath a bunch of laundry and the laundry just sits there. Now we know that. [laughter] i just dont trust what they have all become. They have become what they said they werent going to be and now it is the norm. If you accept it, you accept it. I wont. Unfortunately a lot of people do. We see this with facebook and all other social media platforms because i know when i speak about something, then i will get an ad on instagram. To the cloud cam point, 20 to 30 second videos, and this is to determine according to them a real versus a fake threat. So if a paper is moving in your house, you will get a warning about it. And they have to learn; right . Because it is ai technology. But how often are we leaving these platforms . We are choosing convenience over everything else. You are choosing actually a service. You know, Everyone Wants technology to improve, but then when companies actually take steps to improve it, they say oh my god, oh my god, david what you didnt mention is that the company does take some severe security measures. Those people who review these short clips are all in a locked private office in india david oh, please, do you believe all that . Jonathan, we could take a phone and go in there and i could i could record 20 to 30 second clips of your cloud cam if im there studying it in india. I could do anything with that. It would be i wouldnt do that. The same paranoia we have over this type of stuff occurred back in the 90s. We were so scared about putting our credit card on the internet. David for good reason. Get hacked all the time. Im going to channel jonathan and say it is totally up to people if they want to have this product then they have to accept that some of the information, the videos may be misused. David thats true. We have to move on. Tired of having to get creative when transporting fido across town . Well uber could soon be throwing pet lovers a bone with a new feature, but is it worth it . Our panel who are dog and cat lovers, and we will show you the pictures coming up. You dont want to miss this. David uber may be hoping to make life a little less rough for some animal lovers. A new feature called uber pets set to launch in select cities starting october 16th. Its now going to allow riders to bring their Furry Friends along for rides. Riders will have to pay a 3 to 5 dollar surcharge. Other Ride Sharing Services such as lyft have a policy that leaves pick ups to the discretion of the driver. Jonathan, you have got a dog. Is this something you would use . Absolutely david. I take my dog in uber all the time. Look, this is innovation. This is really life ive taken thats my little puppy. If you try to take him in a new York City Taxi cab, they would literally throw you out. This is uber innovating and helping people live their lives at lower cost, a great advantage, not a great stock, but a great advantage for anyone who has a pup like myself. I think thats a good idea. David gary, we have a picture of your dog too. I take my dogs all over the place. They are in my car. They are in my bed. They dont leave me alone. They love me to death. Winston and cosmo. Winston for Winston Churchill and cosmo for cosmo kramer, two greatest dogs on earth. David i love it. I have a little dog. Luna, shes only 10 pounds. Luna fits inside of a bag. I bring her into cabs and nobody knows the difference when they are there. But the question is, what happens to people who are not dog owners who get into one of these cabs after wards . Can you smell it, kristina . I have a very sensitive nose so i can smell if you have spray on your body. I can smell everything. According to the website, drivers are responsible for any damages to their vehicles for those cars, and they are are you going to know . If you get in an uber car, are you going to know . [speaking over each other] put down pads. They put down pads. And then they take it off. They will figure it out. David if you are going to buy a dog, buy one 10 pounds or less. We will see you tomorrow. No, big, big. Ashley stocks climb on high hopes for tomorrows key meeting between President Trump and a leading chinese envoy. We will be talking to the top official at the u. S. Chamber of commerce about just whats at stake for the american economy, American Companies, and oh, yes, american jobs. At this hour, the president himself is on the way to minnesota for a rally there later tonight. We are live on the ground there for a preview coming up in just a little bit. To the battle by the way for 2020, Elizabeth Warren leading the democrats war on capitalism. We will tell you which sectors are in the crosshairs and how they cannot only prepare but how some may flourish believe it or not with an anticapitalism democrat in the white house