Transcripts For FBC WSJ At Large With Gerry Baker 20240713

Financial markets have continued their relentless move upwards as the threat of war has eased. Emily learned a a ukrainian plane that crashed just outside tehran just about the same time is that missile attack was probably shut shutdown by by an iranian missile. By accident. This puts further pressure on the islamic republic. While these are early days, many critics here and around the world denounced president trumps decision to kill general soleimani are not looking quite so clever. And for the moment at least iran seems to be on the defensive. Meanwhile back in the United States members of congress return from their holiday break and the party dispute on the impeachment trial for the president left off just as it did before christmas. Democrats wanted witnesses called when mcconnell said the decision does not need to be made until after the trial is underway. Now after weeks of delay House Speaker pelosi will move next week to finally send the articles of impeachment. 2020 we are to conflicts one domestic. Facing radical change in domestic politics and in the international order. Americas reevaluating its world role of the world even while at home it seems to be wired in a deeply decisive debate about its own political and economic future. Will this week to discuss this with the changing democracy im joined by where the the sharpest minds out there. A leading political activist a critic of many president s and of course he was for many years the world chess champion. He is now chairman of the renewed market of initiative he helped to found helping to restore democracy which he feels is on the threat not only in russia but here in the United States and wider west two. Lets start with the situation in the middle east if we may. I want to get on to the challenges facing at home. But lets start with the situation in the middle east. We saw that attack last week the check at general soleimani and their response. It was the United States a stronger position now was a week or two ago . May be yes. But i think we should recognize that the Current Crisis in the middle east and the global one as a result of americas repeats. Not just with trump and obama, but all the way back to 1992. The end of the cold war, because thats what happened. When you have the end of one, the leading power or powers we had to come up with a new plan or strategy. And what happens was a very steady plan from the end of world war ii. That eventually brought a victory in the cold war. It started with harry truman belting like nato and cia, voice of America National Security Council and ended with Ronald Reagans attacks. So america. [inaudible] its Foreign Policy became transactional. So instead of being steady its more like a pendulums swinging back and forth but in the 19 90s it was clearly the dominant power in the world. Winning a war in the balkans. But they were tactical resolves. So again its not about winning wars. Many wars of the same time. Lets go back to the 90s. But its more about the plans of the strategy. So whats it about in the next ten or 20 years. What about executions. What about the new united nations. That was built in 1945 to freeze future conflicts. But if you want solutions, you dont use exit cue show that was built for freezing conflicts. So specifically on the middle east how do we get where we are . We had president bush with the war in afghanistan and that one very badly. [inaudible] postwar management. But it was stabilized by 2016 with the serbs. By 2008 it was establishe stabilized. Then president obama comes in and its kind of a mix and policies he wants to get anyone to get forces out, hed attacked libya. Okay famous phrase probably not firm obama but from those leading from behind, thats not working. Although back in 1951 truman said that we could not lead forces of freedom from behind. Until the results because obama believed that america was to blame for many crisis. And if america moves back, and reaches out and embrace our former enemies, we could solve all of the problems. Even with failed policy of what the results . We sought in the middle east. Gerry exactly we had a vacuum. Ironic russia too. Again the question of the latest developments the week or so, is iran reading back a little bit . I think its very difficult to decide whether its actually improved. Obviously killing or assassinating soleimani who was the mastermind was a good move. It had to happen. But again, its a one shot. What about the plan . What about the strategy . Because a big if they were to continue and theres a plan, and it seems that americas most powerful country in the world. Because americans could bring troops back at will. It has no plan. And thats a danger. Iran has a plan, pollutant has a plan, its important for america to come up with the policy. Because right now i dont see any. This can be pushed back again. Gerry theres pushback by taking about soleimani. Is this an opportunity for the United States to now reassert itself in the middle east and establish a plan and a stronger presence . Upland yes dont forget i used to be a chess player a plan is important strategy is paramount. There is no strategy. When i hear pompeo talk about running around competing with china and building relations with russia, he sounds like jon kerry. So thats wrong. We want russia to be an ally where russia is defying the United States everywhere in the globe it can. Or they are helping at some point. [inaudible] gerry i strongly disagree. We can argue about the role of russia because few commanders came from chechnya. Somehow they found a way going by turkey was some sort of document, and ended up in syria and iraq. Gerry weve got to take a break. To the u. S. Should develop a strategy to confront russian ironic middle east. Its more about u. S. Strategy they have to build out allies. Whats happy with the courage is a problem its resignation in other states prayed right now the u. S. Reputation with the bush, obama, and now trump. Its very low and strategy. I hope that will help to build the trust. Gerry gary we have to take out break but i want to get garys views on democracy in the world. Stay with us. The epson ecotank. No more buying cartridges. Look at all this ink it comes with. Big ink tanks. Lots of ink. No more cartridges. Incredible amount of ink. The epson ecotank. Just fill and chill. My agerelated macular degenso today i made a plan with my doctor, which includes preservision. Because he said a multi vitamin alone may not be enough. And its my vision, my morning walk, my sunday drive, my grandsons beautiful face. 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This is the epson no more buying cartridges. Big ink tanks. Lots of ink. Print about. This many pages. The epson ecotank. Just fill and chill. Gerry my guest is gary chris favre. Gary you mommy quote from the menace best of your website. It says it being in peril. For greater its being wristed being bent back. Towards political authoritarianism, economic stagnation, ideological extremism and disorder. Its a pretty bleak picture you paint. Why do you think things are as bleak as you characterize them . Because i have been watching the rise of extreme on both spectrums but not just this country but across the ocean in europe. So we have more and more power shifted to political groups and they are typically not in the United States you have. [inaudible] [inaudible] you had one going to the left in 1964 democrats 1974 were public in spirit right now you can see its all about primaries. Its all about kowtowing and building the base. And basically ignoring the center. And the Political Center is a problem and i think we have to go from history that is democracy is in peril. Not with the one side rising against. But both political extremes attacking the purists of the free world. Democracy as an institution and free market. Gerry but liberal democracy has failed people it has been great for the likes of you and me, frankly who have been recently successful. But for a lot of people it is created huge inequality. It has alienated a lot of people from their leadership. It has created these remote accountable elites who work around the world and run the world. And it has actually undermined democracy itself it, undermined ruled by the people. But it doesnt mean we have to throw it away. You described what is attending the voters mind. But at the same time look at character. Look at the new devices now that helps us to communicate to everyone around the world. So its unequal, there are inequalities, but at the same time we should recognize its not because capitalism failed us. I believe we are failing capitalism. So we are violating the fundamental rules that i believe of the free markets. And the attacks on the free market now, they become very popular and you can see it on the left, they are not just simple calls for redistribution of benefits. But to abandon the fundamental principles of it. People are not shy to call themselves socials. Gerry you check nationalism but isnt that just an inevitable response ruled by the global elite weve seen in the last 20 years. Again free trade, free capital movement, borderless world or people could move from one country to another specially if they have the opportunity to do so that many people feel is undermining the traditional culture and institutions, the way in which they live their life. Nationalism is responsible . Nationalism has never brought positive results. Gerry it did in the soviet union nationalism is the reason they russia broke up is that right . [inaudible] the socialist system failed to compete against the free world. Thousands dramatic victory. Gerry but the social awakening in russia . Its a system that could be provided with things they knew were available in the free world. So i think its the young generation now, the millennials are younger people that dont recognize the significance of the victor of the free world over communism. That was in the late 80s. Thats overseeing a revival. I am shocked because everyone in the world, you look at south america, europe, asia, socialism has failed. Theres not a single success story. The socialism in this country is not about following the swedish model, its social democrat. But its about promoting ideas to the very engine of socialism. He understands the emphasis on social. And its quite good because many young people follow him without understanding the dramatic consequences of this idea. Gerry work and take one more quick break and next we will talk more about these issues of democracy we will also talk about a historic chess match with the computer that gary had and that changes the way we think and work with Artificial Intelligence. Stay with us. Any comments doug . Yeah. Only pay for what you need with Liberty Mutual. Only pay for what you need with Liberty Mutual. Con Liberty Mutual solo pagas lo que necesitas. Only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Aleits a master stroke ofes heartachew. And redemption. The lexus nx. Modern utility for modern obstacles. Lease the 2020 nx 300 for 359 a month for 36 months. Experience amazing at your lexus dealer. Everything your trip needs, for everyone you love. Expedia. For everyone you love. As a doctor, i agree with cdc guidance. 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You can see a Democratic Party desperately trying to keep away hostile takeover. But it takes governed by principle but trumps daily tweets. If the vision of the nation and it always brings democracy down. I think instead of watching and looking for what makes the nation great its all about fighting each other. Gerry some will say trump is actually the manifestation of democracy because he is representing what many people in the country feel they have been deprived of for so long. The action of someone in the white house who speaks their language and does things they want to do. Represents their interest on trade or immigration or whatever. And they feel democracy is being renewed. No every time trump speaks or tweets, its a different language. I am not here to challenge an Electoral College but at the minority voted for trump. Its a followthrough. [inaudible] agreed, but again its very important institutions are being preserved. It seems now that every party is trying to bend the rules in its own favor. And personally if i feel the twopart system that we used to know, its exhausted we should consider doing other things because there are so many groups under one tent. Whether its left or right. So america should be more creative and reorganize its political system based on the constitutional principles of the founding fathers. Gerry i want to talk about Something Else really quickly something which i think you are even more famous. Considered by many, gary chris bars the greatest chess player in history not author of a number of books. His most asked recent experiences deep thinking when Machine Intelligence thinking in human creativity begins. Gary had a famous chess match. Two matches. Gerry is 20 years ago by a computer. One of the things again that is worrying so many people in the world today and causing some of these stresses we are talking about is the advance of technology. What are the limits of Artificial Intelligence . The computer managed to beat you and has beat others. Where is Artificial Intelligence going . Are we going to be redundant . Absolutely not. I speak almost every week now for different audiences mostly business, talking about the future. I am really concerned about doomsayers. All the doomsayers that are trying to terrorize our minds and maybe we should stop watching so many hollywood movies. Because the futures for our making. The machines helped us, they create problems, and Many Industries are facing the end. But jobs do not disappear, they evolve. So my book its based on my experience of the fighting machine. But now im arguing you have to work machines. The endless opportunities that could actually bring more benefits than problems and it has happened many times before. Its painted beautiful picture like a red roar or write a play like shakespeare . I doubt very much but you talk about something that might attract a few Million People were a billion will say no. So machines can do many, many, many things we dont know their limits. But its what we should consider as our imagination and our dreams are not limited. Gerry thank you very much. Just ahead despite their complaints no time to feel sorrfeel sorry for the prince and duchess of sussex. Ill explain more. Im your mother in law. And i like to question your every move. Like this left turn. Its the next one. You always drive this slow . How did you make someone i love . That must be why youre always so late. I do not speed. And thats saving me cash with drivewise. My son, he did say that you were the safe option. And thats the nicest thing you ever said to me. So get allstate. Stop bossing. Where good drivers save 40 for avoiding mayhem, like me. This is my sons favorite color, you should try it. [mayhem] you always drive like an old lady . [tina] youre an old lady. Are Critical Skills for scientists at 3m. One of the products i helped develop was a softer, more secure diaper closure. As a mom, i knew it had to work. There were babies involved. And they werent saying much. I envisioned what its like for babies to have diapers around them. Thats what we do at 3m, we listen to people, even those who dont have a voice. At the end of the day, we are people helping people. When you look at the world, even those who dont have a voice. What do you see . Where others see chaos, we see patterns. Connections. Relationships. When you use location technology, you can see where things happen, before they happen. With esri location technology, you can see what others cant. Gerry will now for something they say is completely different. First its a brexit and then its exit. The briton set to leave the european this month. Prince harry and Meghan Markel are are saying theyre going to step down from the royal duties and divided their time between the two countries. The queen said she was upset with the move and was had not been told of the situation. It cause palpitations around the kingdom at around the world. Supporters of the couple said they have been hounded i public life by the media. And they have talked about mixed race. And racism. So i will have to say this is nonsense. The cut the media adored megan when she first came on the scene. They have been using the platform to push all of their cultures and whiteness in education. But the royal family is not supposed to embrace causes because many of the public will quickly come to dislike them if they do. The reason the queen has been so successful for 58 years as she is explicitly avoided all this controversy. Now you cant have it both ways. Being a royal gives you some really nice perks. A big palace, fancy title, and exchange all you are asked to do is to stick quiets, smiled politely, opening hospitals and visiting foreign countries. Megan and harry should be able to support all of the puck what they like. But not while the British Public is financing their lifestyle. Thank you for joining me ill be back next week with more indepth interviews on wall street at large. Jack welcome to barrons roundtable where the sharpest minds on wall street meet to get behind the headlines and prepare you for the week ahead. Im jack otter