Transcripts For CNBC Squawk On The Street 20160311

Futures echoing their tone before the opening fade. Europe with some pretty nice gains at the moment. Oils in the green as goldman now getting a little more positive on crude. A large part of this morning, jim, is about stocks reacting to the ecb the way you thought they were going to yesterday again. We have got to stop with this process. The traders take our stocks up because europes up. Europes up because the dollar is up. And then the dollar goes down, so their stocks sell off, so our stocks sell off. People add midday realize, wait a second, the dollar is down. Lets go buy stocks. I know people dont think thats conceivable. Thats exactly what happened. And the rally was entirely because the dollar fell. You now the dollar getting stronger, no reason to buy stocks. Chasing stocks at the open will almost certainly be a success unless the one wild card is will oil go higher because the iea says the bottom is at hand and the goldman call, by the way, which is worth reading, says were going from 20 to 40, new range 25 to 45. That was a significant call because what that says is youre not going to necessarily need more equity. Remember apc said they dont need more equity. Take apc dubai along with chevron. And chevrons been a redhot stock, one of the best performers. Watch the weatherford. They did 100 million shares. And 100 million shares at 565. Goldman went to hold the buy, it wasnt their deal. Wow. They weighed in on something that they werent going to benefit from. Maybe it was this new Bernie Sanders presidency thing. Upgrade something call Bernie Sanders, listen, look at this. We didnt even do that deal when we did this. Now we have boj next week. We have the fed on wednesday. Next week so you dont this notion that the markets are a lot of people talking about what draghi did with Corporate Bonds and the way it opens the door to changing the composition further. You dont think that explains some of this . Deutsche bank, stocks, were at the center of the 10 and 11 credit freeze. Remember Deutsche Bank . I dont understand why they dont take a page out of weatherford, out of newfield, do 100 million shares. I think the problem there is theres no real demand no one really wants to borrow because they dont feel like we do which is that if you borrow you can get a good return which is why people are still waiting. This is merkel versus draghi. Better return than a negative return . If i go to the tuscany place, do you think i should get an italian mortgage . With tenyear yields at 1. 32 , i think you might. Will they lend to individuals in . I dont have any idea. I just think going to an italian bank doesnt sound like, if youre a corporation trying to get a startup, a Small Business loan, i think maybe japan when they have a tenyear negative yield of 0. 21 do they have to pay you when you borrow from them . Thats what im thinking. If i get a mortgage to buy a house in italy, how much will they give me . Honestly, when you look at this. Is the loan at 1 . Im going to find out. Im going to test case. Good. Because i dont think you have enough homes in enough places. Some wonder why a bank would lend when they already have a guaranteed profit with the negative rate, why would you then take a risk . You have some in the bank i went over this last night, something, carl, i could not figure that out. Why would you do it . Right. Just to offset the small gain youre getting. Greenspan took the short rates up to rebuild the banks capital, remember, in the 90s after the savings loan crisis. Draghi is doing everything he can and the governments themselves are not borrowing. Its draghi versus merkel. Merkel gets time person of the year but where is the 100 billion were going to open house for all the refugees . When is that going to happen . And this globalization that is now at the heart of our debate, thats about the dollar going higher and theyre taking our jobs. By the way, its very real now. Come on. Its very real. Without, listen, as we await mr. Trump speaking momentarily . At the very least it has elevated the issue of trade to the very top, and, in a good way, as it should during this process. A lot of people are talking about it and reexamining our trade policy and saying, well, all right, a lot of people ive always believed in free trade. I think its the right thing. Maybe theres a down side here that we havent fully understood. Have you looked at the nafta numbers . About people used to sell clothes here. They dont make clothes here. But youd like to think that were able to compete with anybody no matter what. We dont need to close our markets to any extent to protect ourselves because were the best. Carrier hvac, u. S. , mexico, raising numbers, united technologies. Well, thats the video about the workers being laid off. I know, jim. Obviously manufacturing is not done in this country anywhere near it once was. You are the factory for ideas. Were still the factory how about a factory for factories . My kids have to be to cal tech to get a job . What happens to the people who cant get that engineering degree . What happens if you dont get into that program in stanford . Whats left . You have to understand that a lot of those products people now rely on and become cheaper will no longer be that. The cost of living will certainly increase in a significant way. You have to hope you get a job at chipotle and become a store manager where you get a car and good stock allowance. The jobs i think the president denigrates. I said that to our labor secretary friend. A huge part of the discussion this morning as donald trump is sent to host this News Conference where dr. Ben carson is expected to endorse him. That looks to start pretty soon. The debate last night has been widely said was more civil, more muted, his exchange between donald trump and ted cruz talking tariffs. Take a listen. The effect of the 45 tearif would be when you go to the store, when you go to walmart, when youre shopping for your kids, the prices you pay go up 45 . But not only that, when you put those in place, because a tariff is a tax on you, the American People, but the response of that is that the countries we trade with put in their own tariffs. The 45 tax is a threat. It was not a tax. It was a threat. It will be a tax if they dont behave. Trump was asked about the tone of the debate last night, said it was a debate they probably needed at this stage. I needed it. I wanted to go to bed early. It was the most perfect example to go to bed. Hey, guys, how are you doing . There was more disputes at the summit elks club. This is probably what debates until the most recent series of debates high end . At least not overly contentious and not people talking about their private parts. Can we admit the elites believe in globalization . And this is a very substantive discussion. Now forget the tariff at 43 but focus on nafta. Focus on the jobs taken away by nafta. And it is a legitimate discussion. Its not. No longer something both parties are in favor of. Sanders has a lot of votes. All one of them has to do is throw in Global Warming and theyll get a lot of the younger people. 17 of the pollution in california is from china. A well documented fact. But, to me, they dont want to talk the republicans dont believe in Global Warming and the democrats seem to have not caught on to that windfall story. You add that, a carbon tax, listen to the president with trude trudeau, they are shutting down the coal industry. There is no coal. Theres no coal. Trudeau, theyre highfiving, theyre done with the coal industry. Meanwhile, you have Hillary Clinton moving to the left of potus on immigration. Unbelievable. As the sanders effect is moving the direction of the democratic party. These guys are so extreme. Im like, wow, last night in this excellent cfo conference we had cnbc, the left and the right are so wide but the one thing they have in common is the globalization is no longer religion. Globalization has been the end of the people who didnt go to college to get a job. So whats the answer, jim . Well, training people so that they can live in the new world. Weve heard a lot about training for a lot of years now, jim. Doesnt exactly start on a dime. 15 years before we see the results of that. Got to start somewhere. Or we start praising the people who started at dominos and now the stock went to 133. I can give you jobs that are denigrated by everybody in washington. Theyre good. This is about globalization. Today a note out. The main point is that flows indicate a contrarian cell signal. Whether its the election here, whether its boj, those risks are too much for whatever momentum we see in nearterm earnings. And thats why home depot is a great stock. Thats why you say whole foods turned around. Thats why you buy tjx. Here we go. Lets take trump. It was fun. It was different. It got wonderful a lot of good feelings in the room. I think its something, frankly, the Republican Party needed. And today is something very, very special because dr. Ben carson was respected by everybody. Everybody wanted his endorsement and Everybody Loves him and truly, truly admires what hes done. His life has been an incredible life. Its been an aweinspiring life. I want to tell you having his support adds just total credence to what im trying to do and to what were all trying to do. I just want to introduce dr. Ben carson, special, special person, special man. Thank you very much. This whole process getting involved in the political process was something that i never particularly intended to do. But, you know, i listened to the people. It continues to be about the people. Its not about the Republican Party or the democratic party. Its about the people of america. And what i have been seeing recently is political operatives and parties once again trying to assert themselves and thwart the will of the people. I thought that was a dangerous place to be right now. I want the voice of the people to be heard, the political process to play out in the way that it should play out and i think the Republican Party will be very wise not to adopt lets stop this guy and promote this guy policy but rather think about what are the things that will be helpful for america . Right now were in a process of going off the deep end. Were going off the cliff for fiscal lly irresponsible. Were a house dedivided. It cannot stab. Were failing to take a leadership position on the world stage. Why would you get behind a man like donald trump . Ill tell you why. Ive come to know donald trump over the last few years. Hes a very intelligent man who cares deeply about america. Two different Donald Trumps. The one you see on this stage and the one who is very cerebral, sits there and considers things carefully. You can have a good conversation with him. And thats the donald trump youll see more and more of right now. Some people said, he said terrible things about you, how can you support him . First of all, we buried the hatchet. That was political stuff. And, you know, that happens in american politics, all of that. Its not something that i particularly believe in or that i get involved in. I do recognize it is a part of the process. We move on because its not about me. Its not about mr. Trump. Its about america. This is what we have to be thinking about. I have found in talking with him that theres a lot more alignment philosophically and spiritually i ever thought there was. He will speak to that. That actually surprised me more than anything. I do recognize how a persons image can be greatly distorted having been a victim of that. I probably understand it better than anybody. As the American People, we are focusing on, as they begin to see the real individual there and those helping the individual, were going to be comforted as a nation. We have to start working together. We cant allow the agents of division to continue to separate us. As a nation our strength is our unity. We have to ignore those people always trying to stir up strife, and im appealing to some degree to the media as well. Youre part of america, too. And should be interested in strengthening our nation not in creating divisions. Not in creating conflict all the time. If we start having that american attitude that made us great, took us to the pinnacle in no time at all, believe me, everybody will benefit from that. How can we make america a place thats successful for everybody . We have 330 million people. Were going to be competing with china with 11. 4 million people. Were not doing those people any favors by patting them on the head and saying, there, there, you poor thing. I will take care of all your needs. What we need to be doing instead is concentrating on mechanisms to allow those people to climb out of the state of dependency and become part of the strength and fabric of this nation. Thats what america is about. Its not about dependency and it certainly isnt about socialism. Socialism is seen as the panacea by some who dont really understand it. I think a lot of young people think socialism is just being concerned about other people. Thats not what it is. Its cradle the grave government. And you let them take care of you, but you give them all of your money. You give them control of your life. They all end up looking the same way, a small group of elites at the top controlling everything, a rampantly diminishing middle class and expanded dependent class. Thats not what made America Great. Donald trump talks a lot about makinging America Great, but its not just talk. He means it. Im going to be helping him. Others are going to be helping him. You know, one of the things ive discovered in this country, we have incredibly smart people. None of us knows everything, but when we begin to use those smart people effectively to accomplish the goals of america, youre going to see us once again begin to ascend to the pinnacle, to a much higher pinnacle than weve ever achieved before and thats where america should be. Thank you so much. [ applause ] thank you very much, ben. Ben and i were talking lengthily yesterday. One of the things i realized his great love is education and he was telling me things about education and it was so right on and so good and is such an important element for our country. I said, ben, congratulations. You just have to get involved with us with education because our educational system in the United States, as you heard from my speeches, were ranked at the bottom of the pack worldwide and yet we spend by far the most n money. Its not even close. Second doesnt even exist. So ben is going to get very much involved in that and very much involved in health care where hes an expert. And even during the debates i know ben when it came to health care and talking about health, ben was in really a class by himself. Its such an honor to have ben. Hes a friend. Hes become a friend. I really appreciate the endorsement, ben, thank you. Any questions, folks . Yes . David first. Mr. Trump, two questions. First of all, did you guys sort of gently or formally apologize to each other for some of the nasty things you said to each other on the trail . Yes, its politics. It is politics. Its tough stuff. Its a tough business. I thought real estate in manhattan was tough. This is a tough business this politics. A lot of things happen in politics that dont happen anywhere else. So we understand that. Go ahead. Secondly, sort of a question always comes up in big endorsements, has there been any discussion the two of you about a promise made for dr. Carson in your administration either as a running made or no. I thought it was lovely. He just wants to help. And he feels strongly about whats happening and you see the kind of grads we get. We get grads that are amazing and record setting. Well, i mean, its offer the cover of every magazine. Theres never been anything like it. Ben sees that and ben will have a big, big part. Ben maybe ben doesnt even know this yet but ben will have a big part. We want to keep that kind of talent. Yes . Mr. Trump, do you see dr. Carson playing a policy role for your campaign or as a surrogate on the campaign trail going places youre not going . And when he says there are two Donald Trumps, do you agree with that characterization and can you amplify on it . I probably do agree. I think there are two Donald Trumps. Theres the public version, people see that. I dont know what they see exactly, but it seems to have worked over my lifetime. Its probably different, i think, than the personal donald trump. Ben said it very well. Perhaps there are two Donald Trumps. Well, you know, im somebody that is a thinker. Im a big thinker. I have my ideas, and theyre strong. Typically theyve worked out. The theme, and ben alluded to it, the theme i have for this entire campaign is make America Great again. Thats what i want to do. Very simple. I want to make America Great again. We have so many problems whether its military, whether its trade, whether its borders, whether its terrorism. We have so many problems, the debt. You look at our debt, 19 trillion, going up to 21 trillion in a very short fashion. So were going to straighten things out. Were going to straighten them out correctly. Policy or politics for you . Dr. Carsons both. Dr. Carson is both but he will be very much on policy. Ben was always very strong on policy and hes going to be very much on policy. Mr. Trump . Thank you, mr. Trump. Youve been talking about unity on the campaign trail and in the debate. Can you fill us in on any outreach efforts youre making to capitol hill and i wanted to ask you an Islamic State question. We have been called by the biggest people in politics, not only republican politics but also the biggest people in republican politics. Over the last couple weeks, you saw paul ryan reached out and a terrific guy. Ive always respected him, liked him. Not necessarily agree on everything because im very strong on borders and very strong on security. I think paul will have his views and i think probably certain things will change. But paul ryan reached out. We had a great conversation. And many other people at the top, top level i sort of get a kick. I see you covering one person who is saying donald trump must be stopped. I talked to him two days before. Donald, we have to come together. Weve been contacted by many of the biggest people in republican politics. Congressional lawmakers as well proactively . Theyre really reaching out to us. They see whats happening. Were getting millions and millions of people, additional people, people that the Republican Party has never had before. Its the biggest story. I said it last night at the debate. The biggest story in politics is whats happening. We are having millions and millions of people come up and vote for the republicans. They get out. They register republican. Ive had so many people tell me ive never voted republican in my life. I left the democrats in order to register as a republican so i could vote for you. Independents, democrats, and you see it. Were up 65 more than that. Millions of people more. And thats what im saying. The republicans now want to embrace it. I see it. Tom . I wanted to ask you about Islamic State quickly. You talked about potentially sending up to 30,000 american troops to the middle east to fight Islamic State. Thats more troops than george bush sent to afghanistan. Were going to get rid and theyre going to get back real soon. We have to get rid of isis. Its up to the generals. But the generals will be able to play their own game. I want to find out if i have the right general, find out we have the right general, ben, right . We dont want the wrong general talking to us. Were going to find the right general, the right guy or person or woman. A law war . No, its going to be very quick. Were powerful. He we dont use our power. First on the burying the hatchet deal with you and dr. Ben carson, you mentioned politics is rough. Do you regret any of the things you said about dr. Carson . Its a funny thing. I was thinking about it yesterday because i have such respect for ben. If you notice, i mean, the cnn poll came out 49 to 15 . How do you like that, ben, he wouldnt have been happy. Have you noticed during this whole thing nationally, im talking about they say nationalism is important well, ultimately its probably the most important. So cnn comes out 49 a couple days ago 49 for trump and 15 for the two others, i think were at 15 . The one person that just kept sneaking up on me, i couldnt lose him, was dr. Ben carson. I could not lose that guy. And i was doing well and, you know, trump would be at 28 at that time. I remember when it was 28 and ben was 18 . And then he was 19 . And the next week it was 22 . I said, whoa, whoa. Whats happening here . I dont like this, right . And then he was 24 . And then i had a pretty good poll where i took a little lead in one, but then what happened is it was, i believe, nbc, wall street journal who always gives me bad polls, by the way. I have to tell you. Oh, thank you for the nice things you always say about me. You are so nice. Thank you. Sitting next to david. Ok okay . Thank you very much. Always so nice. Now shes embarrassed. I just want to thank you. So ben so ben would always, like hed be there, and then one poll where ben went ahead. It was the biggest story worldwide. I said, this guy is unbelievable. And so i started going after ben. And its politics. Ben understands it. I was impressed with the way he fought back because he fought back with silence and strength. And i even commented on it. Somebody else would have his great confidence in himself and i was very, very impressed and it is true hes the one person i use the expression i couldnt lose him. I couldnt shake him. He did it so well and just go up, up, up so steady, so solid. And i fought back and i hit him hard and he which is politics and ben understands and he understood it that because i talked to him about it yesterday, but he handled it with such dignity, i frankly thought it was amazing. I gained a lot of respect for him. So on that point, though, mr. Trump, you talked about the two Donald Trumps that there may be dr. Ben carson brought that up. When you say things like i want to punch a protester in the face or the things about dr. Ben carson, is it just politics . Are you playing a character there . Its politics and its fact. Let me just tell you. Weve had some violent people as protesters. Theyre not just people saying, oh these are people that punch, that are violent people. I get the biggest crowds by far. Not even a contest. You people dont like to report it. But the one good thing about protesters you have to go into these stadiums, these massive stadiums with 25,000 and 30,000 people and you have to see because the cameras never turn. Ben, cameras never turn and show the stadium. I say turn and show the stadium. They dont. When theres a protester in the corner, its great because the camera alters. Its a negative as oppose d to positive so they turn. Weve had a couple that were really violent and the particular one when i said, id like to bang them, that was a very vicious it was a guy who was swinging very loud and then started swinging at the audience. And you know what, the audience swung back and i thought it was very, very appropriate. He was swinging. He was hitting people, and the audience hit back. And thats what we need a little bit more of. Im not talking about just a protester, this was a guy who was should not have been allowed to do what he did and, frankly, if you want to nope the truth, the police were very, very restrained. The police have been amazing. The police were very, very restrained. Okay, yes . Mr. Trump, did the rnc ever come to you and i dont know if you know about the other candidates, but did they say this debate needs to be more no, they didnt. Why do you think . I just think it was time. It was time. It was very substantive last night. I said it before, it was a very elegant debate. It was substantive. Ben came in and he said that was a beautiful debate last night. Its gotten great reviews as a debate. I wont tell people that i won even though i did win, let me just say. I refuse to say that Time Magazine 84, fox 91 at fox. I dont believe it. I mean, we had a debate last night, and i think i did what i had to do, actually. But it was i dont know. Weve had enough debates in my opinion. Weve had debates these debates have been like Vince Mcmahon should have put them on because they were wwe and too much. And i think that it really i think last night was something that was very important that came off like that. We didnt speak about it. All right. Thats donald trump being endorsed by ben carson. Dont want to miss the opening bell, though. Lets get to the s p at the bottom of your screen. The big board today, it is fiat, chrysler and jeep celebrating its sponsorship of the big east conference. Over the nasdaq its the multiple Sclerosis Association of america. Weve been hearing donald trump talk about not just the bouts that he had with dr. Carson in iowa but commenting on the debate last night, protesters at his rallies calling it tough stuff. We know its a tough business, jim. Its interesting compared it to manhattan real estate which people always say how rough and tumble is that . I know people work with trump. It is tough to get a coalition going to get a building going. You tweet add veed a very interesting a post about carson. That was more than just manhattan real estate. List en to these guys, wrap this up really quick. 150 million and then out of nowhere theyre out of the race. Im proud of the race we won. Hes only been doing this for eight months, but i know the system better than anybody and the reason i know, because i was on the other side of the system. When they talk about Campaign Finance laws, ive been there. I know it much better than i know it from the real side not from the politicians side. Yes . Mr. Trump good job last night, by the way. Thank you, sir. I want to go back to what was asked about what dr. Carson said on the radio and here about the two Donald Trumps. So many people know you and like you because of your public persona. Is that the real donald trump or is it something that we dont see . Well, its an interesting question. I dont like to overanalyze myself, but i will tell you that i try and be who i am. I want to be honest. Certain questions are asked of me and i give a straight answer as opposed to a politically correct answer. I know the politically correct business better than anybody. If you were in private . No, i dont think so. I answer truthfully. Look, were at a point we have to start being truthful with our country. Like the question on islam, im answering the question. I know the exact answer. I could have given an answer the other night to Anderson Cooper which would have been perfect and nobody talking about it. It would have been fine. But there is a problem. And weve got to find out what the problem is. We have to solve the problem. And youre not going to solve the problem unless you know there is a problem. So i want to answer questions honestly and forthrightly and even if im on a big stage with all of these tremendous numbers of cameras around, i have to answer honestly. Its the only way were going to solve the difficulties of our country. Yes . Go ahead. Along the same lines, so why are there two Donald Trumps . Did you at some point make a conscious decision to behave differently in public . I dont think there are two Donald Trumps. I think theres one. Certainly you have, look, all of this and somebody else who sits and reads and thinks and im a thinker and i have been a thinker. And perhaps people dont think of me that way because you dont see me in that forum. I thought it was very nice what ben said actually because it is another side of me. Im a very deep thinker. I know whats happening. Okay . You start seeing more of that side of you. Can you elaborate on that . I will work with ben on so many different things. Ill be honest, when i was with ben, the thing that most impressed me, i know all about his views on health care because ive heard them and always felt that he knew more about it than the other people on the stage and perhaps he should because that was what he was doing. I was most impressed with his views on education. Its a strength and its a tremendous strength. So ben will be involved with us in any aspect he wants to be but in particular on those two subjects. Yes . Go ahead. More of this tone the down version what we saw last night with dr. Carson referred to as your certificaebral side. Do you plan to tone down your performances as it depends. I didnt go there as a toned down person. I went and whatever happens happens. You have to swing with the punches. To be honest with you, i went there i didnt know if i was going to be if i was hit, i would have hit back. Now there are those people who said to me, i was telling people, those who said it doesnt matter. Let them call you names. Let them do whatever they want. Stand there and take it. Youre leading. You have a substantial lead. Nobodys going to beat you. Dont do anything. And i said i cant do that. I thought everybody did well. I thought it was an elegant debate last night. Yeah, go ahead. Two quick things. You said earlier you felt we had enough debates. There is potentially another debate scheduled on march 21st. Is your suggestion to the rnc at this point, guys, weve had enough . I think weve had enough debates. How many times do you have to give the same answer to the same question . Do you agree with that, ben . The same question, the same people, the same everything. It would be nice to finish off this one. Cnn did a fantastic job. I thought jake was a great moderator. It was just it was just a really nice way to finish off the debate season but i thought i really think its enough debates. I dont think theres any reason. I know theyre getting very big ratings. The democrats are not getting ratings at all and our debates are getting very big ratings but, you know, one of those things. I think we had enough. Look, the Networks Want them. I dont think any of the candidates want them. The networks very much want them. Theres a phrase youve been using the last several days on the trail. Youve said embrace it to the Republican Party. As you move forward now and as the contests start to limit, what are you going to do . Are you going to find yourself surrounding yourself with more people, speaking on your behalf . I was saying that the Republican Party should come together and embrace these millions of people that are going down and voting. Millions. South carolina, new hampshire. No matter where it is, its the millions and millions of people. Weve had some states up 102 from four years ago. 102 . Theres something beautiful. These are people in many cases, as i said last night, these are people that have never voted. Im talking 40, 50, 70 years old. Mr. Trump, ive never voted before and they have a trump shirt on. They never put a political shirt on in their lives. They never had confidence in the people that they were voting for. I have had literally when i shake hands with people or when i sign autographs, people are saying ive never voted before, mr. Trump, but i am so proud to be voting and some people go early voting. Its been an amazing thing. And what i said to the Republican Party, the establishment, if there is such a thing. I guess i used to be a member of the establishment eight months ago, but if there is such a thing im not sure there is i said embrace it instead of fighting it, instead of fighting me like these people from club for growth. These are people that came to my office, they asked me for 1 million. I said, who are they . I dont even know who they are. They asked me for a Million Dollars. And i said, well, let me think about it. Then i found out who they are. I said im not going to waste a Million Dollars. Why would i give them a Million Dollars . They started doing negleative a. They went negative on me. They wouldnt be doing negative ads. Theyre extortionists. Theyre extortionists. Thats all they are. I look on television and see negative ads which are all wrong, theyre lies, by the way, but, you know, so thats what you have. We should embrace it. The Republican Party should grab this and we will have a victory like the Republican Party has never had before. One of the things ben and i were talking about, i will win michigan. Thats not in the playbook for the Republican Party. I think i have a chance to win new york. Thats not in the playbook. Can you imagine if you win new york, they always talk about the six states you have to win, florida, virginia, just go down the line, pennsylvania, ohio. You have to win certain states. If you lose one of them, its over for the Republican Party. The fact is the structure, structurally its much more difficult for somebody to get elected from the Republican Party, Everybody Knows that. With me, i add a lot of states that arent in play for anybody else. I add all of the rust belt states, i own states that i will get states that are unbelievable, that are unthinkable for the Republican Party, and we should embrace it. A couple more. Plum trmr. Trump, you said d carson would be handling education. Its up to the states to handle that. So how would dr. Carson do something about the issue that a lot of people have with common core . Ben knows the education. He knows whats going on. Im personally very much opposed to common core. I like local education. Ben feels very much the same way. I think ben is going to do a Tremendous Service helping the states. We want to see it. Theres great love in education. And when you circle those schools with the parents and the teachers and Everything Else instead of a bureaucrat in washington, you will do a lot better. Okay . Senate majority leader oconnell . I havent yet. Im sure i will. I have not yet. What is your reaction to the news that mr. Connell has Vulnerable Senate republicans on running away from you if you were the nominee . Im sure that will change. Yes . Do you think the Republican Party leadership, those in washington right now, are disconnected from the republican base, the electorate . Is that who youve seen dividing, against the Party Leadership . Its true. Theres a big disconnection between the socalled leadership. I dont even know what it is. Nobody knows what it is. But theres a big disconnect between the socalled leadership and the people, the people to me are much more important because theyre the onesing doing the voting. Thats why im standing up here today and other people arent. Why do you think there is a disconnect . What are they not understanding . The Republican Party lost its way. Theyve lost two elections that they should have won, certainly the last election they absolute ly should have won easily. That should have been an easy victory, much easier than the one we have coming up and they lost. So the Republican Party lost its way. The Republican Party now something has happened to call it a miracle, call it whatever you want to do, but theyre talking about it all over the world. Its the biggest story in all of politics. The millions and millions of people that are pouring into the Republican Party, not to the democrats, to the Republican Party. And these he are people that were disenfranchised, people that havent had a pay increase in 20 years, people that have seen their jobs go to china and to mexico and to japan and to vietnam and to every other country in it the world but us. Its going to all end. Its going to end. Believe me, its going to end. The democratic voters you get to the general election, democrats, what are you going to say to them . One of the things were going to do [ inaudible ]. Let me tell but the democratic voters. Its the democratic voters. One of the things were going to do is we are going to get so Many Democrats thats already been proven. So Many Democrats have come and signed registration forms for the primaries where theyre voting for me. They left. They said theyve never done this in life. They had an expression democrats for reagan years ago. Were going to have democrats for trump. Were going to get tremendous numbers of democrats. I have people in involved, friends of mine, saying everybody out there is voting for you, but theyre not going to admit it. I say, why . Arent you proud . No, because i have a tough stance on crime. I have a tough stance on borders. They know im right. Theyre liberal people. Theyre going to vote for trump. Ted cruz recently acknowledged this would come down to the convention. If this does come down to a convention fight, what are you doing . I think well do it without a convention. I think without going down into the convention without having a fight. I do feel, and i said it strongly, whoever has the most delegates at the end of this trip should win. Well, im prepared but im hoping to prepare. Look, ohio should be great for me because theyre losing tremendous numbers of jobs. Youve seen whats happened with the coal industry in ohio. I think ill beat john kasich. He has been an absentee governor. Hes been campaigning he lived in new hampshire. In fact, Chris Christie said that absolutely john kasich was there much more than him which is true. And john kasich then went, as you know, to other states, to different states, very big in south carolina. He was there. He didnt win. Didnt win in new hampshire, right . Didnt win in michigan. He guaranteed michigan. He said i will win michigan, and i thought he said, you can correct me if im wrong, but i thought he said if i dont win michigan ill drop out. Michigan is his neighboring state. I won michigan in a landslide. Hes living there. So john has been, you know, not really there. Hes very much in fafrp of transpacific partnership, tpp. That will be the destruction of ohio. And now that the oil is down, you know, ohio got lucky because they struck oil. The budget of ohio went up more than any budget in the entire United States. Higher than any budget. But they got lucky because oil was under their ground as opposed to some states where they dont have the oil. Now that the prices of oil are down, ohio will have a lot of problems. Mr. Trum snp. Maybe one more, two more. Go ahead. Just to be clear you will not be in Salt Lake City for the next debate . I didnt know there was a next debate. I thought we had our next debate last night . No . Theres yet another theres been a ratings bonanza and i would do debates, frankly, if the networks agreed to give all of the money to the lets say, the Wounded Warriors or to the veterans. But the networks are making a fortune on these debates. The ratings for the debates are through the roof. But, you know what, can i be honest with you . I think its time to end the debates. I didnt know about a debate in Salt Lake City. Just to clarify, you said youve been hearing from republicans like paul ryan. Have you personally reached out to anybody in the Republican Party, and do you think thats something id rather not say. Ive been hearing from virtually everybody in the Republican Party, and theyre congratulating me saying were going to get together. They want to embrace it. These are very smart people. They want to embrace it. What are they going to do take millions of these voters do you know if you look at the polls, and people tell me this every time. When i went to nevada, all of them, the people that work in the polling areas, theyve been there for 20, 25 years. They love it. They do it. Theyre political people. Every single time i go, mr. Trump, weve never seen anything like this. You go to nevada, wed stand here and the place would be empty and now you have lines that are five blocks long. Its been an amazing thing. Yes, maam . Go ahead. So last night on the debate stage you said that trade is one of the areas on which you right. Very much so. [ inaudible ] in the context of ohio. How do you differ on trade from Hillary Clinton . Hillary is terrible on trade. First of all, she has no business instinct. She doesnt have the energy or the strength to get the right trade deals made. You need strength, you need stamina, you need a lot to get these deals done. They come at you in waves. To do these deals they wrap them up and put 12 countries in one, tpp is an example, i want individual trade deals. Some deals well make that will be so good. Some countries treat us better than others. Some are worse. China will take advantage of tpp. Its not in it now but, believe me, they will come through the back door, theyre watching it so closely. I have so many friends in china. I have Great Respect for china. Im not angry at china. Im angry our people. We have a trade deficit with china this year. 500 billion. Its unsustainable. Were going to change our trade deals. Were going to make trade deals and become a rich nation again. We cannot become a great nation until we become rich again. We cant afford social security. Im going to save social security. There are so many things we can do. Its going to go quickly, too. Yes . A question for dr. Carson about your decision to endorse mr. Trump over senator cruz. You did indicate earlier in the week you are open to endorsing one of the two. So why not senator cruz . Well, first of all, we have a lot of excellent candidates. I think any of the 17 candidates who are running could have done a fine job, but one of the real factors for me is what will happen if we allow the political operatives to succeed in their endeavor to stop donald trump. I think it would fracture the party irreparably and hand the election to the democrats. And they would get Supreme Court picks and america would be forever changed. And thats the big picture. Its a very big picture. Its not about me. Its not about mr. Trump. Its about america. Why not senator cruz . I feel mr. Trump is willing to do what needs to be done to break the stranglehold of special Interest Groups and the political class. Are there any remaining hard feelings towards senator cruz over what happened in iowa . Ive completely forgiven him. Thats a duty one has as a christian. Dr. Carson, you said throughout your life god has led you to your most important decisions. This truly is an important decision. Did god lead you to donald trump . I prayed about it a lot and i got a lot of indications, people calling me that i havent talked to for a long time saying i had this dream about you and donald trump. I mean, just an amazing thing. I also tend to think that the way god speaks to you is by giving you wisdom. And that wisdom says to me that if we allow this attempt to disrupt the will of the people to be successful, it will fracture the party in an irreparable way. And that will hand the election to people who i personally believe would destroy our country. And the reason i say that is because Hillary Clinton was a great friend , she was on a firt name basis. He wrote the rules for radicals. If you havent read it. I recommend that you read it and see the kinds of things that are recommended to change fundamentally change this nation from the Great Success that we have to a socialist country. And the dedication page of that book says dedicated to lucifer. The original radical who gained his own kingdom. I dont want anything to do with anything like that. Dr. Carson, you talk about burying the hatchet. Did you have any kind of conversation with mr. Trump like that with senator ted cruz, and did he ask you for your endorsement . He did not specifically ask for an endorsement, but he did a apologize he wasnt really aware of what was going on. He didnt agree with it. Why mr. Trump over ted cruz . You said a week ago today at cpac that you were endorsing we, the people. It sounds as if in that intervening time between then and now youve evolved and the central focus of what i hear you saying the effort to stop donald trump is what motivated you to endorse him. Is it Donald Trumps qualities or this movement against him that puts you where you are right now . Its about we the people. We need to empower the people. That is not going to be done through politics as usual. Be that republican politics or usual or democrat politics as usual. It requires somebody who is a bit of an iconoclast but someone who has the ability to listen and to make wise decisions. Do you think going back to what mr. Trump said about embracing people, you have a lot of evangelicals, do you think that people will be represe representative of American People and you can help bridge the gap with evangelicals as well as people of color now that youre endorsing mr. Trump . All the policies that i have ever talked about and mr. Trump is going to be onboard with this, too, we talk about things that are good for everybody. Not for this group or that group. The whole concept of picking and choosinging winne inin ining wi. That simply would not happen with a Trump Administration. Looking at ways to benefit all americans that create an equal playing field. A quality of opportunities, thats what were looking for. That doesnt mean were not sense it tiff to people who are downtrodden. Were very sensitive to people who are downtrodden and will be putting in place things that will allow them to ascend. Many people have been place ed in a position of dependency for generations. They dont even recognize whats going on. Gnaw [ inaudible ]. What are you doing . We are fighting in the middle east. [ inaudible ] to china [ inaudible ] and if our neighborhood . Ill let mr. Trump answer that question. Do you see a future for politics . Would you be interested in serving in a potential Trump Administration . Im interested in america. My interest is our posterity. Any possibility of the american dream. Interested in helping to achieve the goal of saving america and making it great. Absolutely. You talk about two Donald Trumps, the one wed see in public and the one in private. Should the voters know that second donald trump and as that relates to you, whether its religion, are we now seeing a second dr. Carson with this endorsement . I dont think so. My point being that theres a different persona. Some people have gotten the impression that donald trump is this person who is not maleable, who does not have the ability to listen and to take information in and make wise decisions and thats not true. Now you might get that impression from, you know, looking at debates and looking at some of the public appearances. Hes much more cerebral and a much more reasonable person than comes across. Youve heard me talk about it a lot. The media are stillful at painting people certain ways and it may not be who that person is at all. And that person can spend all their time trying to change the media or they can just move ahead. Hes decided to move ahead and focus the attention on the American People, not so much on the media. I think thats the right way to do it. Will you be hitting the campaign trail . We will do some campaigning together, absolutely. And the last question . Interested in being a part of a potential donald Trump Administration, have you been promised a running mate or vp slot in exchange for the endorsement . We have not talked specifically about a role other than being involved and helping me formulate policies and trying to help America Great, thats the real key. And as was said by many, it is great. A lot of the things in place and have been in place and growing over the last few decades have led us to a place of incredible stagnation. We dont need to be there. We once again began it to embrace those policies that will create the atmosphere for risk taking and capital investment. Like nothing youve ever seen before. We havent been doing that. I dont think it will be that hard. I dont think mr. Trump thinks it will be that hard either. So thank you very much. Go outside. We have coffee and drinks. Enjoy yourselves. Thank you. Donald trump solidifying further his grip on the nomination, endorsed by ben carson. The dow up 185. Doesnt seem to be listening too closely. Theyre reacting to the Goldman Sachs call. Goldman planted the flag as the guy who was the lowest on the street. They moved up. The big credit crisis in oil is what kept us back. So youre seeing a lot of the oil stocks including many of them the gigantic deals are all flying. Thats a rally separate from europe that is making people feel more emboldened. Im hearing the call it if oil goes above 40 does a slowdown in the u. S. Economy . And people are just caring about the credit crunch ending in oil. And thats whats behind this rally. What do you think youll tackle tonight . Im going to talk about the unbelievable battle between the shorts and longs in salon. A name we didnt get to today. That was, okay, ill just say it, the best recall call other than dominos, it was an amazing call. May i suggest that every retailer on earth go listen to what mary dillon had to say. That is the way to run a store. I wish i had hair. I would go to ulta and experience it. I could have gone between 9 00 and 9 45. It doesnt take long. 15 gain for ulta. Its real. Its spectacular and real. We will see you tonight jim cramer mad money. As we said the dow is up 165. Dont go away. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Okay, so you launched your banks app. Now what . How will you keep up with the new demands of todays Digital Economy . The fact is some believe they wont need a Traditional Bank down the road, so at cognizant, were helping banking and Financial Services Companies Think digital, be untraditional, and reimagine what the bank of the future can be. Our clients can now leverage customer intelligence to predict their financial needs and provide more contextualized products and services. Were creating new platforms across channels so customers can effortlessly invest, borrow, lend, transactwhereverwhenever they choose. And were digitizing the way banks run, driving efficiencies and delivering new value for their customers in return. Digital works for banking and Financial Services. Lets talk about how digital works for your business. You take your car in for a tuneup, but whens the last time you took you in for a tuneup . Go see your doctor, get to know your numbers, and learn how to prevent problems before those warning lights start flashing. The more you know. Good friday morning. Welcome back to squawk on the street. Im karl quicarl quintanilla. Carson endorses trump. Other eye on oil driving a rally in stocks. Dow is up 171 as we see crude back to 1. 73. The political news of the morning, donald trump picking up the endorsement of his former rival, dr. Ben carson. This as the four remaining candidates barnstorm florida following last nights kinder and gentler debate, the last debate before the delegate rich winner take all primaries of flo florida and ohio, education, social security, taxes, and trade. They were all the main topics. Have a listen. The effect of a 45 tariff would be when you go to the store, when you go to walmart, when youre shopping for your kids, the prices you pay go up 45 but not only that when you put those in place, because a tariff is a tax on you, the American People, but the response of that is that the countries we trade with put in their own tariffs. The are 45 tax is a threat. Its not a tax. It was a threat. It will be a tax if they dont behave. Our next guest has called on the Business Community to step up in this election, but did he hear anything last night or this morning that will help Business Leaders answer the call . We welcome back former office depot and autozone ceo, now a cnbc contributor and the ceo of the committee for economic development. Good to see you again, steve. Thanks for joining us. Good morning. Before we get into the substance of the debate, and there was some, we heard dr. Carson and donald trump himself say there are two Donald Trumps. I wonder does that make you worried or does it give you some encouragement . Well, i dont know. Look, i was encouraged by the debate. I think the candidates moderated their strident tone towards trade and towards business. So instead of saying as the democrats and republicans have been saying, you know, out with trade, up with the trade barriers, what we heard last night was a different tone more moderated towards were going to make good deals and encourage trade but were going to enforce our trade deals. Now the bad news still and the thing that has sceos and busines people worried still on both sides, the democrats and the republicans, is this strident attack on individual industries and companies. Look, in that building behind me, the congress of the United States makes the laws businesses follow. And so its really beyond the pale politicians attack ceos and businesses for being unamerican or worse by following the laws. If they dont like whats happening with following the laws they ought to change the laws. Calling out American Business and so forth is not a good thing this is why Business Leaders need to get engaged in the discussion and the debate here to make sure that people understand that the economy is drin by business. I realize you want to be careful on naming names and getting behind candidates but American People need to know the specific and we did have this debate on policies. We know how donald trump does when it comes to the insults. How did he do when it comes to the substance and policies that matter for the Business Leaders you describe . Were getting closer and this is why its important Business People engage. We do need to talk about the policies here because thats what the American People need to hear. Its the policies of the congress and the next president that are going to be able to drive the growth in the economy that is going to make the difference. 100 of our economy is driven by business. Yes, Government Spending is part of it but all of that money comes from the private sector and the wealth thats created. No, i realize thats why im asking to you weigh in on the specific policies and the specific candidates as someone from the Business World to tell us what you think about it. Yeah, no, and as im saying, the important thing here is that weve got to have trade and weve got to have business. Were only 5 of the worlds population. Weve got incredible capabilities and talent in the United States. We simply cant do it all within our borders. We would be far poorer in the American Worker would be far poorer, fewer jobs if we restricted tray. So we need to open up trade. Now we need to enforce those trade rules and we need to protect our intellectual property. We have a lot of theft going on with china and russia and so forth. We cannot end trade. These are the kinds of things that American Business people need to engage in. We cant keep hammering ford and other companies who have just simply followed the tax rules. We need to talk about changing the laws rather than beating up the companies. One of the problems with the election in this country and the flow of information is and this has been brought up, of course, broadcasters here are commercial broadcasters. And, therefore, when they have somebody as powerful as trump speaking, it is in their ratings are interest to take that line. I wonder at what point somebody else gets the airtime with the people of this country to argue the case against them, steve . Lets fast forward and assume that trump meets clinton for the race proper. Even clinton has had to soften her position on trade, for example, because of what sanders is throwing at her. This seems to be, for those that have the airtime or will have the airtime a losing battle from a business perspective. Oh, youre exactly right, and this is why the Business Community needs to speak out in support. This is not about democrats or republicans or protrump. This is about making sure that the American People understand the basics, that American Workers will be hurt if we have less trade, that tpp doesnt have anything to do with china. These are about our basic largest trading partners in japan, canada and mexico and australia and new zealand. And getting the facts out and so the american Business Community needs to engage here and help and make people understand what drives business and what drives jobs so that the politicians here can make good policy. Otherwise theyre left to rhetoric and to run far left, far right and, unfortunately, if you were at risk of them makinging policy that just destroys the economy and we dont want that to happen. Well see what happens in ohio on tuesday after what many people call a resounding no vote on free trade in michigan last week. Steve odland, good to see you. The dow is up 150 points. Very quickly i want to mention what is happening in europe because of the watersheds we got yesterday from the ecb and the way in which the market is now reacting to that. You have the insurers rallying strongly in europe because theyre going to buy Corporate Bonds and, of course, they have signaled the low on negative Interest Rates may have been reached. This was absolutely a killer for penchant providers and insurers. The banks are rallying strongly. Some of the main eurozone banks as the ecb offers them free money to settle their Balance Sheets for four years or more and the italian banks are rallying particularly strongly again today after selling off on yesterdays session, again, as the ecb suggested it would pay them 40 basis points if they lend out that free cash moving forward. Coming up on the program the cfo of u. P. S. , Richard Peretz, about the state of the economy and his thoughts on what the candidates some of the candidates on both sides of the debate are saying about trade in this country. Squawk on the street will be right back. U . Im vern, the orange money retirement rabbit from voya. Orange money represents the money you put away for retirement. Over time, your money could multiply. Hello, all of you. Get organized at voya. Com. In new york state, we believe tomorrow starts today. All across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. Like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. And in syracuse, where imagination is in production. Let us help grow your companys tomorrow today at business. Ny. Gov donald trump and Bernie Sanders continue to challenge decades old business mantras that free trade is good for people. Mr. Trump stated his case again last night. If nothing else to distance himself from other gop rivals. Take a listen. I am different in one primary respect and thats trade. I feel that we have had horrible negotiators, horrible trade deals. The jobs are disappearing and especially the good jobs. Trade deals are absolutely killing our country. The devaluations of their currencies by china, japan and many other countries and we dont do it because we dont play the game and the only way were going to be able to do it is taxes unless they behave. Joining us now is the cfo of Richard Peretz and a member of global cfo council. Good morning. Good morning. The market cap of our organization is 88 billion this morning. How much of that is based on trade . Its good to be here. Nice here on on set. When you look at our International Segment alone, its about 21 of our revenue. However, when you bring in the logistics side which is a very large portion of International Logistics and the supply chain, it goes up from there. International plays a large part of our business. How do you react when you see the debates on both sides of the aisle running with an init tent those that are winning and d distance themselves for free trade . Something has gone wrong. The economic environment, countries need to continue to work towards Free Trade Agreements. The global economies and our industries specifically u. P. S. Its been a big story over the last 15 years. I didnt mean to interrupt you. The basic problem is that overall, and you may be able to prove this, its better for the economy, but there are always winners and losers. Donald trump is striking a chord with those who think theyre losing. How as a Business Community you do you counter that . When we look and think about international trade, we think about how it impacts the business and the company and we know when a country passes a Free Trade Agreement we see our export volume grow by more than 20 . Export volume, not selling selling to the country once a Free Trade Agreement over what time period . The next year or two. 12 months. Yes. The second important point from an International Perspective is that for every 22 packages, a job is supported when its an international package. So as export value grows, jobs grow as well across the entire network of u. P. S. How do you respond then to a donald trump that says its not fair trade. We can still do free trade but it has to be fair. In other words china charges us for our exports into their country. Why dont we raise tariffs on them for their imports and ours . When i look at what were doing i separate out whats happening in the Business World from whats happening on the tv right now and at the end of the day what were seeing is across the entire world a tremendous amount of growth in export volume and its not just out of the u. S. Or to the u. S. Because we operate a very large bits in europe and asia as well. I want to change the subject and ask you about one of the events of the week. Stocks surged after amazon, one of your main customers, announced it will start leasing planes from them. Now if you listen to what ama n amazons cfo said, it was clear they feel you and fedex and others are not able to meet their demands moving forward. How do you react when you read that now that theyre beginning to lease planes . When we look at amazon, theyre a Great Customer and it is mutually beneficial to u. P. S. And amazon. You realize what a great opportunity for a company like u. P. S. Something like 10 to 12 of retail sales are made on line. Thats going to keep growing and growing which gives us a great opportunity. What we have to do and continue to do is invest to make sure we maintain the label of ship earp of choice. When you put all of that together, by investing and use of our integrated network that shares the scale and scope that well continue to win. There is a suggestion that ultimately amazon may break out its Logistics Business as an independent Free Standing business. Its made a lot of money. Would you try and get ahead by changing the way that you think about the business . You say, look, we have a physical Delivery Business and over that Huge Technology that weve laid over it. If amazon becomes a main entrance, would you be more of a it Technology Company . Would you attempt to have a vertical integration through the industry . How serious ly are you thinking about the future . Were always making adjustments. Weve been around 108 years. Because of that we have to think about whats going to be possible and whats happening and weve moved and changed as the general society has changed and things like Access Points and my choice which are tools for the end user didnt exist in our industry until u. P. S. Introduced them. Thats a physical answer. What happens if the Technology Takes precedence to the ultimate clients who are the retailers . Again, when you bring the economies together for delivery, you have to have the physical side and our scale, the economy, the density that we create because of the millions of customers we used cant be replicated and our customers are better off because theyre using u. P. S. Can i ask you about transportation stocks. The first negative week in about eight. Theyve had a good run. Your stock bottomed out. We believe not only that because when you think about u. P. S. Specifically, its not just the global economy. Its also whats happening within the company. A really good year in 2015 and we have initiatives and efforts within the company that are continuing to build momentum. We expect 2016 to be another positive year as we guided and we explained on our call. Good to see you, richard. Thanks for your time. The cfo of u. P. S. When we come back this morning oil prices rebounding nearly 50 in the last month climbing closer and closer to 40. The dow is now back to its 200 day