They say that created an unknown factor. Other climates talk about the tax cuts for a sugar rush. They say its not clear if people will spend in the if youture as they did during the Second Quarter. President trump addressed the issue of sustainability. He predicted growth of 3 or better. Emphasis on better. Here is the president. In the Second Quarter of this year the United States economy grew at the amazing rate of 4. 1 . Ill say this right now and ill say it strongly. As the trade deals come in one by one well go higher than these numbers. So, neil, most economist if you look at on average what they expect they expect 2. 5 through the end of 2019. That eye higher than the 2 they have been tracking. These are the same economist. Yes, indeed. All right, thank you very much. Now to the remark the president made to sean. He thinks if you think this is off the charts how about eight or nine percent. He said he could do that by have the Trade Deficit that will have a benefit to the counsel tray. Think of that and you get the economy booming at double the rate it boomed in the Second Quarter. Lets get the read. Question vagar have gary here. I dont think so. Not because the numbers is too high. A 20 trillion is tough to grow at 8 . Well continue to take 4 . Thats a big number that will keep unemployment down and the
market in good steady. Lets hope it continues. The argument has been if investment picked up a like amount. This is at the minimum thats significantly higher. All things would have to align. Trump would have to barrow from the treasury. Thats what it would take. Every other state. You cant really get to that growth rate. There are things going on that could lead to continued fast growth. The red fall Federal Reserve is not raising rates. You are getting this Hurricane Effect were people do deals before the tariffs that may never escalade. You do your deals as aggressively as you can. Thats with these number. This is not sustainable. Get another hot quarter scare people to doing business. You worry about the trade thing. The trade war, in theory, could have factories lead to the economic boom. This is where i would have an issue with that. There are many factors here. One thing that was a constant on Consumer Spending. It was four times what it was in the fourth quarter. That goes apart from trade. That will tell you in the face of higher gas prices americans were predisposed. Im wondering, what that could petary. That has to do with the tax cuts. Thats the argument the
administration would be making. Why werent they doing that in the First Quarter . I dont know, maybe they were waiting to see how it shook out. I believe its a Wai Wait And Se and thats im not a financial analyst. As a political analyst i would caution everyone thats saying this Isnt Sustainable or about to explode or go to 7 or 8 . That sounds crazy town. We have been at 2 to 3 for a while. The president is right if i can oversee a 3 economy that will be a very successful thing. Its been 3 for a year. We havent done that for a better part of a decade. Because of this, this can
happen the psyche of American Business has changed. Im speaking to ceos and Small Business owners. They feel like they have the wind at the back instead of the wind in their face. Even with the trade stuff. There are things i dont like that he does. They feel like the government is on their side. If we can continue that way. If with ecan lower taxes and have less regulations. The reason why is we were going the opposite way. Business dont know what because next to hit. We talk about obamacare. That mandate was big stuff. Even a little up tick. Whether its an anomaly or not it will make it easier to get to 3 . I dont want to overplay the anomaly. There is more going on here. Soybeans are selling. We all under estimating because peoples mentallies have changed. It could be rational. Maybe their are optimistic now. They are buying the make America Great again. There is no changeable policy. If they believe it. Optimism is up. They are happy about their prospects its better than it was. Even though the company has more tax cuts. Hes a good salesman. No president hiked the economy like this. Corporations did do well under obama. Wage growth is an issue. Thats not something that turned around because of President Trump. We have an extra trillion because of the policies. There are outstanding issues that used to matter to republicans. Paul ryan used to be the deficit king. Now, you know, its sunshine and butterflies. Dammed if he does and dammed if he doesnt. To me, people should be honest about their priorities. The deficit will matter and Entitlement Reform will matter. As a liberal does it worry you hes presiding over an economy thats picking up steam. No, its a great thing for americans. Are you worried . Yeah. See how easy that was. It wasnt that easy. Well have more on this. I want to get the fallout from an Hillary Clinton strategist. The leadership from the,party is that this isnt really happening. A lot of people are seeing it and acting on it. In the poll which im a codirector of. We see 70 before the announcement see we have a strong economy. Trump has a 55 approval on the economy but only a 41 approval personally. A little bit below what he would need to keep democrats from taking the house. Lets explore that. In 2014, the last midterm election. The economy was doing well. Unemployment was cut dramatically down. We were closing in on 5 . A breakdown of major headlines impacting business and politics features a rotating panel of industry experts. Controls. I think one of the biggest advantages democrats have going into this is the republicans jumped ship thinking they were on the titanic. They have a leader that quit. He doesnt seem to support the economic policy. They have a completely mixed massage. The democrats biggest problem is the election of socialist. They produce numbers on unemployment, food stamps, and social programs that are remarkable. Dont forget what happened from 96 to 98. Unexpected growth closed the deficit that not a single economist predicted. The Internet Boom and all of the revenue that came with that. Thank you very much. Thank you. We talked about the media. Protestors shutting down ice. This softspoken guy told a
story about how policies helped him get back in life and his family too. Who connected and why after this. When my hot water heater failed, she was pregnant, inlaws were coming, a little bit of water, it really it rocked our world. I had no idea the amount of damage that water could do. We called usaa. And they greeted me as they always do. Sergeant baker, how are you . They were on it. It was unbelievable. Having insurance is something everyone needs, but having usaa now thats a privilege. Were the bakers and were usaa members for life. Usaa. Get your insurance quote today. Essential for the cactus, but maybe not for people with rheumatoid arthritis. Because there are options. Like an unjection™. Xeljanz xr. A oncedaily pill for adults with moderate to severe ra for whom methotrexate did not work well enough. Xeljanz xr can reduce pain, swelling and further joint damage, even without methotrexate. Xeljanz xr can lower your ability to fight infections,
including tuberculosis. Serious, sometimes fatal infections, lymphoma and other cancers have happened. Dont start xeljanz xr if you have an infection. Tears in the stomach or intestines, low Blood Cell Counts and higher liver tests and cholesterol levels have happened. Your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. Tell you doctor if you were in a region where fungal infections are common and if you have had tb, hepatitis b or c, or are prone to infections. Needles. Fine for some things. But for you, one pill a day may provide symptom relief. Ask your doctor about xeljanz xr. An unjection™. Exbetter experience graduating from a community college. You got married and started are family. The president was compelled by What You Lad T had to say. I believe so. You said in this environment you benefited. Is that what you were trying to get across . Yes, basically, i wanted to let them know what i wanted to do. I landed a job with a Great Company and able to startup an apprenticeship to better my life and family. I wanted to congratulate mr. President on that for passing the bill. I like when you had to say college or four year school zone is for everybody. Sometimes there are different strokes for different folks. There is more then just four year degrees out there. You did a great job. You are a real person. Thank you. Best of luck to you and your family. Thank you. Ron somethings going on at schwab. Oh really . Thank you clients . Well jd power did just rank them highest in Investor Satisfaction with full Service Brokerage firms. Again. And online Equity Trades are only 4. 95. I mean you cant have low cost and be full service. Its impossible. Its like having your cake and eating it too. Ask your broker if they offer awardwinning full service and low costs. How am i going to explain this . If you dont like their answer, ask again at schwab. Schwab, a modern approach to wealth management. It gives you super fast speeds for all your devices, provides the most Wifi Coverage for your home, and lets you control your network with the xfi app. Its the ultimate wifi experience. Xfinity xfi, simple, easy, awesome. All right, facebook, Mark Zuckerberg is not a fan of this. His stocks dropped this week. Twitter also slumped because of the number of users not piling on. Ei have gary and lindsey bell. It seems like a trend. You are seeing users spend less time. They are not giving up altogether. This is a trend that has started. Instagram is doing great. Microsoft said they had the best quarter. This is something they have to work through. I thought instagram would protect them. It was the deal of the century. We dont know how much business they were allowing that was fake. Not just the russians buying ads. Completely fake accounts. Why didnt they deal with this
years ago. You think that is what happened . I was amazed this hit them earlier. Brand name is headed south and worriness is headed north. Thats not good for these companies you pay nothing to be apart of. This is beyond beyond at this point and time. We hit a peak for all of them. Not instagram but the whole. I would be careful. As far as it effecting other technology. Intel was hit this week. Im watching peak earnings. If it breaks that wont be good for the markets. Are you hearing the Break Analysis . What i am hearing is tech stocks are price for profection. It was the forecasting. When you have them priced for perfection then you have this dramatic reaction. Im with you on the instagram thing. Facebook was so smart to buy instagram when they did. It would be worth 100 billion now. Its not helping. I mean, they havent begun to monetize instagram. I would also point out, look at Snap Chats Earnings last quarter that ended in may. Their stock went down 20 . Outlook was horrible. The stock came all the way back up. Where else will you find growth. You look at the stocks. There is a possibility in tech. What was amazing was the stock doped but they had revenue. That didnt happen in 2000. Those companies were falling apart. The point here is that the concept of how they are growing is revenue is under question. Is it just facebook the way they grow revenue at this rate facebook said, okay, well still grow but it wont be in
the 30 perceptage instead of 400 percentage. All of the stocks are over owned, over loved, and over leveraged. The stock knocked down all of the points. All of these people who want to sella peace. They are going lower you go from a high price to not so high price. It has to slowdown. This is what apple deals with. You only sold 80 million phones and they punished the stocks is that justified. Are the apples and amazons and microsoft are the real trendsetters. There are different pockets
that will show more growth. Cloud has been phenomenal. You have a. I. And different areas to focus on. Artificial intelligence. These Companies Need to buy. The he said money is gone. Based on what they have now. Those Technology Companies that are able to move with the time. Microsoft is a Cloud Company now. They got the job with the new ceo. Amazon, with all of their new products, alexa will be monster monster going forward. If investors come to you and say i still believe in technology and its the future and put money on funds. That group, would you tell them go ahead. Its over blown because they are launching ets which is just social media ets. They way waited under the end. Apple never indulged. Social Media Companies are driving the growth. A lot of technology fund. I wouldnt buy a fund i would be stock specific. With social media i would let the dust settle. The greatest winners will be in technology. The timing is off. There will be some monstrous new applications ten years from know that will go up just like weve seen in every decade. Can you share those names during did break. Yeah, there is some kid
watching right now. The president firing Micheal Cohen after the release of the tapes and phone calls. What happened with this relationship. Thats what i want to know. What happened. I feel your pain. With Proskin Technology for two times faster absorption so you can have worry free nights, and wake up feeling fresh and free for a free sample visit tena. Us lets get the latest on what the charges are on the president. Good morning, neil. President trumps long time lawyer said his Boss Green Lighted the meeting thats a future in the mueller probe. It took place on june 8th. It including Paul Manaford and
jared kushner. The president s son long insisted his father had no knowledge of the meeting. It was such a nothing. There was nothing to tell. The president offered his confirmation of that yesterday via tweet. I didnt know of the meeting with my son donald jr. Someone is trying to Makeup Stories to get him out of an unrelated jam. This is after he leaked a attack about hush money they paid to a playboy model. Now the inner circle are painting an unflattering picture of cohen. Rudy giuliani said cohen is lying. I think its a big deal. Micheal cohen represents a legal threat to the president. You know, there is one area. We have one key person we tell
all of our life stories too. In the president s case he was his fixer for many years. Meameanwhile Paul Manafords trial will start in a few days. Witnesses there will also be asked about the meeting. Thank you very much. The fallout is at a time when people are trying to understand. Lets say the president did know about the meeting. Does that mean anything . Democratic strategy ann and mercedes. You are a lawyer. Yep. Is there anything wrong with the president having to reverse himself and say i did know. Outside of misrepresent senting to the press. There is nothing under oath. He hasnt come forward and said
i had nothing to do with the meeting. He tweeted it again. There is nothing under oath. If he does turn around and says by the way, i recalled and i did know something about the meeting. It wasnt clear. Someone told me about the meeting. Its fine. There is nothing under oath. It wouldnt matter what was discussed on the meeting. Ive told there is a good book. He doesnt buy all of this. He was telling me that it doesnt automatically mean collusion any way. Am i getting in the weeding of something we dont know happened. Of. Im not a political operative. The russians did nothing to hide the meeting. There was nothing covert about the meeting. They had it at trump power on
fifth avenue. Television cameras during the campaign. Its interesting from me you wouldnt know who those people were. No, but if you were going to have a huge conspiracy it would be a clandestine meeting. This is something that would have been open. What if the president knew about it . He said he hasnt. I have no reason to not believe him. We have Micheal Cohens word against the president. He has publicly defended don jr. If you could pipe down. [ laughtedown. [laughter]. International, im not a lawyer and wont pretent to be one on tv today. If this is true this will be
another page in a catalog of lies by this president on the issue as it relates to russia and every other thing he tends to liability since hes taken office. Whether its stormy daniels. You if you cant trust him on one thing how can you trust him on another. You can say that about bill clinton. Well, a lot of people dont trust him. Do you think you are being fair . Say he did know about it the next leap is collusion. If he did know about it thats where the important work of the Special Prosecutor is doing. Thats why the pressure needs to
be relieved. This is all a witch hunt. We cant deny that russian did be thmesswith the election. Its important for republicans to take a deep breathe. And democrats too. Yeah, well, he hasnt. Well, from a Policy Prospective. A few days ago sec ta ago secreo said well continue the sanctions against russia. We are also aiding with military weapons to the ukraine something many pushed the Obama Administration to do. I understand what you are saying but from a Policy Prospective these are tough policy actions. What we do know for a fact based on the intelligence
committee is russia is playing in our elections again. The president of the United States stood on the stage and slapped the Intelligence Committee in the face. The prior actions he made was fairly tough. Tough in comparison. What did the Obama Administration do . You dont know what happened behind closed doors. The world doesnt know. For all we know you dont know Whats Going On in for a meeting behind closed door but you are judging it. I can base judgment on what he did. One thing i can do is if they hang their head on Micheal Cohen then shame on them. I never said they would. Has anyone ever taped a client, absolutely. Thats why i say the work is important. Im more fi fixated on merces working with how dos of lawyers. I would like you to think aboutar that. Well have more after this. Do . Shes saying a whole lotta people want to buy this house. But you got this Rocket Mortgage by Quicken Loans makes the complex simple. Understand the details and get approved in as few as eight minutes. By americas largest mortgage lender. This is a big road thats usually very busy. A little town out their of 625 people. Between here and there there is a Fire Marching down the fireside threatening the houses there. Others have been destroyed in other parts of the fire. We look off to the right and the problem is this. In california many people move into the mountains which is the wild land urban interface. There is definitely fire in the mountains. Winds have been blowing dangerously close to this small town. At the moment the winds are light. Recent bush growth made california a firebox. The fire might jump this road and they are standing to protect evacuated property. We have seen a horse rescue this
morning. If the winds come up with the High Temperature the homes will be threatened. This is from the level of the air. Of course the issue of the people on the ground facing it facetoface. This is the it you asian around 40 to 50,000 acres. We have the gotten the latest figures yet. Only 5 contained and that means this fire is pretty much raging out of control. There is a lot of Property Standing in its way and a lot of dry bush. Thank you, tom, very much. Well have more on the fallout. This put in a lot of pressure on the power grid. That goes beyond those effected in the area. Willingham tucks it in and puts the championship to bed. Sweet dreams, nighty night. As long as Soccer Players celebrate with a slide, you can count on geico saving folks money. Fifteen minutes could save you fifteen percent or more on car insurance. Pressure, what pressure . The players on the. How would it evidence itself. Same thing, if you go back and take a look at what happened in the ukraine, the biggest use of black energy and loss of power. You start seeing things like that. In the control rooms an easy way to do a 101 look at the officers that mueller putout. Look, its just basic trade stuff you will see. You will see them mapping it out. They detect behavior in the knelt work and start going up. We think there is something in their. They were close to shutting off the power. They could have taken over the breakers. You shutdown the power grid. That connects a lot of utilities. Easily, its sabotageble. You hit the power grid. What would go out along the way . Thats the one thing they havent gained it out. You would have a series of events. I was out in phoenix 114 degrees. They have a massive impact on the power grid. You have to most Vulnerable People in our to society. Places were heat will kill people. You have an impact on public safety. We know what happens. As we have seen in wore. If we go after our power you effect a lot of it between communication or banking to you dont want to create a doomsday scenario. Think of one thing that doesnt require power to operate. It sort of strung together. A lot of people think its a so fest indicated network. When one goes out its a limb that goes out and before you know it you are in intensive care. We are vulnerable because these have not been fixed or updated. In some cases, in Northern California i was reading in decades. Then what . Back in march. I wrote an article about how for russia this is a warmup for them. What you will see is an example of what happened. Back in 2006 you were hit with the massive power outage, it started in ohio and worked its wayout. I have a progress, yes, i have. If they fall victim they take spear fishing. This network wasnt suppose to be connected. This is the same day the target hacked happened. They used third party with Remote Control software. With all of the money they spent and havent learned that lesson you Couldnt Spend Tha Half of. Wouldnt they know they were watching them. They wanted to do something and be extra cautious. This couldnts the low intensity complex. As long as they can keep you distracted the magicians are illusionist. Thats what they are looking to do. They are continue to try to influence elections. Microsoft found three places in the elections. Morgan, thank you. I thank you. We have the congressman coming up. I wonder what he thinks of this. Paying too much for insurance you dont even understand . Well, esurance makes it simple and affordable. In fact, drivers who switched from geico to esurance saved an average of 412. Thats auto and Home Insurance for the modern world. Esurance. An allstate company. Click or call. Paying too much for insurance that isnt the right fit . Well, esurance makes finding the right coverage easy. In fact, drivers who switched from geico to esurance saved an average of 412. Thats auto and Home Insurance for the modern world. Esurance. An allstate company. Click or call. Esursaynot todayis becauseany. Of my bladder, thanks to Tena Intimates with Proskin Technology designed to absorb so fast, it helps to protect and maintain your skins Natural Balance so you can feel fresh and free
to get as close as you want all day, and now all night for a free sample visit tena. Us. Who knew what and said what about meetings. And darrell issa, congressman, a lot of attention about that. I dont think its a small matter and its worth media attention. Im not saying the media ignored the strong gdp data, but lets say it was as favored a subject as the cohen tapes and allegations. What do you make of all of that . It may be the greatest backhanded compliment of all time. We take for granted that President Trump was going to make America Great again financially. He was going to be somebody who came in with the answers to make america competitive, our exports grow, our imports shrink and our industry come back. So the fact that hes done it to a certain extent is appreciated by his base, discounted by The Other Side and a turncoat lawyer, a lawyer who deserves to be disbarred for a number of his
actions, including, you know, recording his client clandestinely makes a much better story than businessman makes America Great again. Neil let me ask you about that then. Regardless of the charges back and forth. Are you worried that a wind should normally be at the republicans back, the president s back could be imperilled into this investigation, a widening issue of the president on a call talking about playing off a former playboy model or whatever gets in the way of all of that, gets in the way of the messaging you think could be a winner for republicans . I think if youre looking for some sort of epiphany for the voter that didnt vote for President Trump because they thought the social solutions and obama issues were more important for themselves and their children. Youre not going to get that no matter what. Neil what if hes proven to be a liar, congressman . If hes proven to have not told the whole truth about the fact that campaigns look for dirt and if someone offers it, you listen to them, nobodys going to be surprised. There are some things in politics that you just take for granted. Neil you dont see that as a longterm impact. Wouldnt be the first politician or president to maybe misrepresent things . Businessmen listen to almost anyone who might be helpful and make pragmatic decisions how to make bad stories go away. In business, a problem is something that money wont solve. If youve got somebody making an allegation true or false and suing you for something true or false and you often make a pragmatic decision to make it go away and get back to the important things. This president keeps getting back to the important things of making our economy work again, make the world safer again, making our military strong and able to keep us out of war. These are the issues no matter how many times people try to
distract the president , he does return to and his cabinet returns to. So, i mean, will the voters in just a few months return to the question of are you better off than you were two years ago . And by the way, so much better off that it is, you know, it is the 40 , 50 better growth, an economy thats not just hitting on all cylinders you, but is the envy of the world. Neil you think that would be the winning you could be right. Congressman, let me get a read from you. A lot of people know youre going to retire and all of that soon. Excuse me, youre also one of the most successful businessman who has ever come to the house of representatives. I believe youre the richest congressman because of that success. Currently, although im too poor to be in the cabinet so im in the middle ground. Neil well, maybe not at the rate let me get a sense when you talk to Business Leaders and those who succeeded this and they like all this and they worry about trade. You tell them what . I tell them if in fact is
what is being done is to getting us to deals that allow our country to succeed, prosper and compete, then these are necessary transitions, including the farmers you were talking about a little while ago and so on. President trump got a commitment from europe to buy up an awful lot of inventory that china is trying not to buy. I think that everyone sees there will be disruption, but in the long run we had to get rid of the barriers to our opportunities or we had to raise our barriers and the president made it clear hell raise the barriers unless others lower theirs. He challenged europe to eliminate all of their tariffs and wed eliminate ours between us and europe. Thats a major recognition that all he wants is fairness. Neil whatever you think about this, is it your sense, congressman, if this were to drag on for many months, all bets are off, right . Well, look, if people get to where they know longer are talking, no longer negotiating, no longer meeting and finding
ways to work together, yes, thats a problem. But during these weeks and months, no president has been more willing to meet meetings that others wouldnt have even considered. Hes already done more in less than two years and most president s do in eight. Neil all right. Congressman, always good seeing you. Thank you very, very much. Thank you. Neil fair and balanced now and a fellow who might disagree with some of the statements there, Barack Obamas former Economic Advisor austan goolsby. Thanks for having me back, neil. Neil we talk about this 4. 1 growth the economy experienced in the Second Quarter. When you were working with president obama it exceeded 4 i believe four times. What weve discussed with the numbers that are wellreceived. Theyre hard to keep going up. Why is that . Well, yes, they are to keep going. Thats why i always used to tell president obama dont get out and take credit for one big number because usually you have
reversion to the mean. If you get a big number, you get a small number. It kind of happened here. In the First Quarter of this year we had a pretty measley number, barely 2 . Now a strong number. Chances are it comes back down and if you average over a long period of time you bet get a better sense of how its going. And this is a good number if there are democrats trying to portray no, its not a good number. Theyre wrong. This is a good number. The president should be happy about this number, but the key thing here is, whats our steady state growth rate . Its definitely not 4 . If we could get to 3 that would be fabulous. Neil and that its very likely, given whats happened the first half of the year and lets say we average 3 or better, thats something we havent done in the better part of a decade. That would be great, if we could do 3 that would be great. Neil id like your sense and i know some oddities in the report and obviously the president s straight position might have prompted some of this, a lot of companies, you know, buying some moving stuff fast ahead of the hammer coming down. But there was a 4 jump in Consumer Spending four times the rate we saw in the First Quarter, that goes beyond logic, right . Because americans at the time were dealing with higher gas prices, still pretty anemic wage growth. So what did you make of that . You know, thats a key point that you seizeded on there. What i made of that was, in the First Quarter, that was surprisingly low. It was literally less than 1 . And at that time, if you remember, we said, well, this probably had something to do with the weather. We had a couple of the quote, unquote, reference weeks when the weather was bad. We thought there would be a rebound in Consumer Spending. Its better than what we were hoping for so thats great. I dont know that that well
have to keep an eye on oil prices and gas prices. If you think thats going to be sustained. Now, to the president s credit. Neil okay. I dont know if its credit, i dont think that this number reflects very much the tax cuts. I know a lot of people are saying that, but i think if you believe, which i dont, but if you believe that the president s tax cut is going to have a big impact on investment and growth, that has yet to kick in. So, he could get from his policy more, but i dont think you can attribute this number to it because its in the wrong category. Neil quickly, what about his thoughts in an interview with sean hannity, if he hacks the Trade Deficit in half, 8, 9 growth isnt out of the question. What did you make of that . That sounded like i mean, obviously, that doesnt make any sense. I think he was just trying to
express his happiness that this was a good number. Its clear, trade is not that big of a share of the u. S. Economy and we do not have sustained growth rates of 8, 9 in the United States, only see growth rates in countries that are very poor and you disagree with na . Yeah, i disagree with that. Neil ill put you down as a maybe on this president right now. Austan, always good seeing you. Thank you very much. Thanks for having me. Neil austan goolsby. The from t vchltvj rogers on t phone. How much credit do you give this credit for this pickup in the economy . Well, given the warning that the numbers vary around, the fact is that the number 4 is a big number. The left wing press is attacking
the number, cant be sustained, et cetera. But guess what . You know, the guy came in, he said we have to lower taxes, we have to do this and that, he did it and right now we have record low unemployment and its been low enough, long enough we have people coming off the bench and adding into the labor poor. Those people are spending money and thats running the economy. So instead of trying to win a philosophical battle by dumping on the guy, lets give him credit for a job well done. Neil so a lot of these, the president would be damned if he did and damned if he didnt. And you do raise a valid point. But does the Trade Friction worry you . Yes. The government government meddling in trade is like a sledgehammer. To get a deal going with a company in another country to set up a supply chain is a big deal, it takes years. And that Companies Need a
stable economy to be able to do what they need to do to grow the economy. And when that gets jerked around and you read the newspaper. By the way your product is going to have a tariff tomorrow, that tax stuff around. My hope is that hes doing what i think he will be doing, which is, look, were prepared to disrupt this thing, were prepared to raise hell. If you guys are willing to go to a zero tariff deal, which is a straight deal, everybody will do it were not going to live with the status quo. Were going to take action chts the same policy, youve got to pay for noto n. A. T. O. A lot of concern with what happened this week with facebook, and even intel nervous guidance. Whats going on . Well, first of all, if you look at the what id call the software
sector, twitter, facebook, et cetera, you just do the multiples on those companies and theyre off the charts and maybe thats right. Maybe people feel a lot of growth, a paradigm, the world is changing and these guys are the leaders, so lets give them credit. Those numbers were off the chart and when they relax a little bit, when facebook, for example, reports growth to a record level, but the growth isnt as high as they hoped for and therefore, they take a hit. To me, thats a correction, but theres nothing fundamentally wrong here. Business is good. So the concern among invests, ma inbound this group thats been on fire, maybe we ought to unload this stuff because theres something funky going on, you just dont agree with that . Well, okay. I dont agree with the assessment of the root cause, but the fact is, in my career, i usually get surprised. I cant predict. Nobody else can either, but i
dont feel inferior. And my biggest fear always in the market was the invests are getting skittish. They think that the markets overheated and theyre all waiting for a reason to bulk up. Neil i didnt mean to jump on you. We have to go to that break regardless. Tj rogers on the phone. Be well. Nor korea and the United States, more in sync than you know, more progress than youre hearing after this. It rocked our world. We called usaa. And they greeted me as they always do. Sergeant baker, how are you . They took care of everything a to z. Having insurance is something everyone needs, but having usaa now thats a privilege. Tired of wrestling with seemingly impossible Cleaning Tasks . Wipes in the kitchen can be ineffective. Try mr. Clean magic eraser with durafoam. Simply add water, to remove burnt on food. Try mr. Clean magic eraser with durafoam. Or new or unusual pain in your hip, groin, or thigh, as unusual Thigh Bone Fractures have occurred. Speak to your doctor before stopping prolia®, as spine and other Bone Fractures have occurred. Prolia® can cause serious side effects, like low blood calcium; serious infections, which could need hospitalization; skin problems; and severe bone, joint, or muscle pain. If your bones arent getting stronger isnt it time for a new direction . Why wait . Ask your doctor about prolia. If my fathers remains come back, it will be a mixed reaction that know i will experience. It will be good to have the closure. Of course, its never good to know that your father really did die given the options of probably the best thing, believe it or not, but rather than have it just go on and on, bring him home. Lets share the space here in this country and know what
happened to him and put him to rest. Neil that was donna knox, now, her dad, among those who went missing when his plane carrying four crew members went down in authority korea back in 1952. Shes still waiting to know exactly what happened to him. Nuclear showdown author gore began gordon chang on those who fought and died there. You were educating me about the process here, the North Koreans hand over the remains and the numbers. How do we know those remains coming here are the remains that the North Koreans say they are . Well only know when the dna test is done in hawaii. The North Koreans have returned dog remains, for instance, i dont know intentional or not, but you never know until you do the forensics on these. Theyve been sitting on these for a long, long time, decades. The North Koreans say they have held 200 sets of remains
and mentioned this in conversations to u. S. Official. Now, of course, 55 fewer. The pentagon estimates theres 5 52 5300 sets in north korean and the official number is over 7,000 and the number of americans who are missing. And we know some are mischaracterized, theyre not missing, theyre prisoners of war. We have incontrovertible evidence that some were not returned at the armistice. And estimate 800 to a thousand americans were not returned. So, thats the so, they were alive, but prisoners . They were alive. Yes, we have evidence will they be in their 80s today . Some would be in their 90s. The one who is we have incontrovertible evidence who was not returned was major sam logan shot down september 9th, 1950. We have a still photograph of him released by the soviets and
by the way, if there are american p. O. W. s alive, theyre alive probably in china or in russia because the soviets took a lot of them for basically intel purposes. So, you know, logan would be close to a hundred. But there are others 85 or so. And yesterday on americas news room, you guys were interviewing a korean war veteran, he was 85 and he looked you just mentioned it here. How do we deal with that . What do we do to get to the bottom of that . We have to put maximum pressure on the North Koreans and the chinese and russians. We have the leverage to do that. We have never put p. O. W. s, m mias at the top of the list of things to do. We need to do that because if we do that well get beneficial effects on things we consider more important. I dont think that way, but things like Nuclear Weapons and the rest of it, those are important, but if you dont show resolve on remains and p. O. W. s, the chinese and North Koreans
and russians are going to look at us and say youre not serious. Youre serious on one thing thats important to us . Juan williams was saying on fox, look, this is who we are as a people and thats absolutely right. Neil thats wellput. Gordon, thank you, very very much. Meanwhile, the president , of course, is charting this progress as he should with the North Koreans. Its something that theyre doing, They Werent Doing before and progress on the trade front. Come down 52 billion. Thats the gap, four Trade Deficit in the latest quarter. Not a word there on the Budget Deficit and why that worries some folks after this. So you can have worry free nights, and wake up feeling fresh and free for a free sample visit tena. Us
im even more honored to see that deficit shrink, the Trade Deficit shrink so much. The press never mentions about the deficit. Were looking at a trillion dollar one. He sure does and i disagree that he never mentions it. You might recall when he saw the Spending Deal he was pleased to see the military that he wanted, but was concerned that perhaps theres too much other spending, but i would guess in the next Budget Negotiation we will have to dry a harder line on spending. Neil that sounds like one of my diet commitments. Harder line. All right, welcome back, everybody, back with me on this subject about the attention to the Trade Deficit, not so much the Budget Deficit. 200. We have Jonas Max Ferris and lindsey. More attention to trade than budget. Just where is that . Yeah, it worries me, too. And like you said in the intro, the Budget Deficit is going to
exceed a trillion dollars and continue to be at that level for the forseeable future. Nobody cares. The president barely talks about it and the bond market hasnt reacted and thats why theres no political will to deal with the spending issues. Youve been reminding for many years, its like a ticking time bomb. The Trade Deficit is the fly and the Budget Deficit is the gigantic elephant and theyre taunting markets and theyre taunting the economy and i put it down to real numbers. This coming year, our first 400 billion of our tax dollars going to interest, not for the poor, not for the elderly or the indigent. And it will be a trillion dollars and how is the bond market, not at 5, 6 , one day, im promising you this, i dont know when, 20 trillion, 30 trillion, we are going to wake up in the bond market and much
higher Interest Rates. Look out. If trump wants to see all the good hes done or says he has done dissipate very quickly, watch, if you dont start addressing this and unfortunately, the republicans added 300 billion a year to spending. Neil theyre outdoing the democrats. And of course, ryan is quitting, hes going byebye and nobody cares. Neil what worries me about that, to his point, you know, the thing i worry about, jonas, a slight uptick in rates makes this a lot worse and also, your point hasnt happened yet. Do you even factor it in . Its something that we talked about when youre running for president. Once youre president you stop talking about it. Thats the way with everybody. Its really not this president s fault. Weve reached Maximum Capacity to be fair, when he was running he did talk about the fact that
growth solve a lot of problems and i dont know if growth donald trump doesnt fear debt like most americans. Hes more comfortable leveraging. Let put it that way. That said, these problems arent going to go away. The Interest Rate which you brought up originally is a concerns. Youre financing a lot of debt and economy doesnt grow well because the rates are low. You cant lose control of the Interest Rates. Its when the rates go up and payments that gary was talking about spiral without more spending. You have to at least keep the confidence there that youre going to borrow and thats the biggest single problem, some of its because the economy is hot, but other japan and others california 500 billion in debt. New york, i think 400. Illinois is one step from junk
bond rating. This cant continue and god forbid we ever have a recession, watch what happens to the deficits then, theyll blow up like you never believe and again, my simple thought, every day theyre taunting markets and every day 3 billion is aeded to the taxpayers shoulders and thats bad longer term. Neil help me with this, the president said outside the white house, he was talking about growth really helps. I think every percentage point increase adds 3 trillion. I dont know what that was remembering to or 10 million jobs, maybe the other way around. Bottom line, that it will solve a lot of problems. Bill clinton enjoyed a lot of that with the Internet Boom and revenues that came in and higher gdp and all of a sudden, deficits became surplusesment does he have a point, can he do something to lift the gdp lets say it consistently gets to be 3, 4, 5 , and told sean hannity
8, 9 . How far would this go to addressing this . Growth would help the situation for sure. The question is, does it cause inflation to rise . If inflation rises, it hikes rates. The Interest Payments that we are going to have to make to service the debt is going to go through the roof. So its really a problem for your generation. Im kind of cast out. I im kind of cashed out. Im not too, too worried. Where is this going. Saying to the Federal Reserve dont raise rates. If Federal Reserve raises rate, he wants a hot economy and low borrowing cost. That can somewhat get us out of the problem. The high Interest Rates would be a disaster for the deficit. We know so people like you
dont get anything, entitlements. The time to work on this is when the going is good. They have such an opportunity with the growth right now. Neil they didnt do it penalized for it. They penalize and loose their power base because money is the mothers milk for these politicians. Neil this is so simple with the growth then. Its not so simple, but i agree with gary we need to take care of this problem right now. The economy will slow down. Part of the reason why we got to 4 is because of spending that has been done, the tax cuts and stimulus. Neil you want to do something, youre worried for your generation. Yes, i am. I am. Neil i guess theres something to that. Seriously, thank you all very much. The president talking about the great process hes making on trade and the deal he scored with the europeans. I want you to meet a farmer who says, sir, not so fast. Rance, you could save with their single deductible. So if you confused the brake with the gas, or if your lamp post jumped out of nowhere, or if you forgot your bike was on the roof rack, you only pay one deductible instead of two for a claim involving both your auto and home. And when you save that much, its almost like it. Never even happened. Thats auto and Home Insurance for the modern world. Esurance. An allstate company. Click or call. You know, everyone worries about approaching tariffs and what americans are going to be paying for when it comes to this trade war. Farmers are already paying for it right now despite 12 million that the president promised to get them over the hump before its resolved. And a live stock farmer from illinois, brian, glad to have you back and thank you for taking the time. Neil, great to be back again. Neil how are things looking for you now . I guess on the respect of trade its an uncertain environment. You know, we hope that the president s able to resolve these issues quickly, negotiate some bilateral deals and get us back into the markets that weve worked so hard to gain all of these years in agriculture. Neil so, brian in your case, im curious with the deal that the president made with the
europeans, we dont have all the details, but they have committed to buy more soy beans and agricultural products. Are you going to see any of that . Do you know how that will offset whatever youre losing now . Neil, its going to be the devils in the details. I think you probably heard as well that eu spokeswoman said that agriculture was not going to be part of the deal. I think she made that announcement yesterday. So we dont know. Theres just so many unknowns and just like with the aid package the president announced on tuesday, you know, we dont know enough of the details yet to say what how thats going to benefit. Neil all right, that aid package was supposed to improve things for guys like you so that you had a buffer. We dont know where exactly the money will be coming from, we dont know to whom it will be going. Were told those who would be in the direct line of fire, which i think would be guys like you, but youve heard nothing . Well, we know some of the
details, yes. And thats about what we know, what youve outlined. Of the 12 billion, a portion is going to be in direct payments. A portion is in purchase of commodities. A portion is going to be in market development. The details are being ironed out and in theory, were going to be seeing the details in august, you know, but we do appreciate the president acknowledging the tremendous damage thats occurred in agriculture, in rural america, since the trade war began, back when you and i first talked, neil. Neil at the time the detail was the chinese get them to the table and get them to blink at the table and concede. Maybe theyll start buying soy beans. I dont know how big of a market for what you produce, but what do you think about that . Well, they are a big market and i think from the beginning weve said, you know, all due roux he inspehe
respect we think theres a better way to go go that. Tariffs are a last resort, not the first. I think theres time for the president to set a course making an agreement with our allies and mexico, another huge unknown sitting out there for us, neil, is nafta. Thats probably as much or more important as a Pork Producer is that. Make a deal with mexico, with canada, our allies in the g7 and turn as one and face china. I think thats a productive, again, a rulesbased approach to solving you know, neil, theres no doubt theres trading issues that need to be addressed. Its just whats the most productive way to address them. Neil the president said, brian, this is the time to do and from a position of strength, we just came off a strong gdp report, the economy is doing very well, were the worlds envy, youve heard all of that argument, and theres never a good time to do
this, but if there ever were, this is it. What do you think of that . Its a horrible time for agriculture to do this, neil. Weve seen Farm Income Drop from a high of over 120 billion five years ago to usda projected level of 60 billion dollars this year. The farm income has been cut in half and now, neil, since the trade war started weve seen the combined value of the big six commodities drop 20 billion. So the timing wasnt good for agriculture and you know, id say thats why were pretty adamant from the beginning that theres a better way to go about this, mr. President. Neil brian, you know, we talk to average consumers and theyve seen the price of a lot of items they buy at the Grocery Store go down, whether its bacon or sausage, some cereals, breads and they say, well, whats brian complaining about . Were doing okay, all of this stuff is getting cheaper. [laughter] yeah, well, pork loin is a bargain right now i would say
for grilling season as we get to the end of the season. Pardon me while i put that unsolicited advertisement in this, but, yeah, but theres and thats why agriculture occupies a really unique spot in the economy, neil. We buy retail. Were hit both sides on this tariff, equipment, grain bins. Anything we buy, we use a lot of steel out here in agriculture. Weve seen those prices go up 30 and then we cant pass that price on. Were price takers. We sell, we sell into a market and take a place. And so, thats why this has been particularly devastating for agriculture. The prices of what we buy, the hard inputs have gone up and what we sell has dropped precipitously. Neil brian, i wish you well. You argue on behalf of farmers like few others i know. Im hoping these clouds lift and very, very soon, my friend. Thank you. Yeah, so do we, neil. Again, always a pleasure to visit tu. Neil same here. Brian duncan of the Illinois Farm Bureau vicechairman, caught up in the fire back and forth on this issue. Well, my guests think about the longterm impact of that after this. Hats next. And im still going for my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. So if theres a better treatment than warfarin, im up for that. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. So whats next . Seeing these guys. Dont Stop Taking Eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an Artificial Heart Valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take
certain medicines. Tell your doctor about all planned medical or dental procedures. Eliquis, the number one cardiologistprescribed blood thinner. Ask your doctor if eliquis is whats next for you. Reunited is reunited and now the attention has shifted and you know thats not the case, but back and forth. There are over 711 children who have not been reunited. But theyre no longer here, cant be reunited, but 200, 250. Neil they were back. 150 waived the right to be reunited and a look see to determine if they can be. And theres a if they have a criminal background they will not be reunited. So its a mixed bag whether these children could ever be reunited. So many 711 thats been reported that have not been, but various reaps why. But the sad part about this, whether youre democrat or republican, we should not have been in this position. This idea of Zero Tolerance or
that its politically okay for the red meat for the base to yank parents away from children is bad and i fought my party for not holding this administration, this president accountable and we switched the conversation to abolishing ice. Which is impractical policy. Neil you think that was stupid . I think its impractical policy. Focusing on this administration to do something about comprehensive Immigration Reform and about he wouldnt be the first president , democratic or republican that hasnt gotten people on both sides of the aisle were so horrified. You cant say its okay that theyre doing this. Its not a political discussion, about what was done. My point in all of this, this should have never happened. Like, this was under the instructions of trump about the zero policy notion and i think that that kind of, you know, pushed the ball down the field. Neil dont you think that the
president was damned if he did, damned if it didnt. Ratherly does he blink or pivot only because the pressure was up. Neil look the way to put it, he changed his mind and now those who could be reunited are reunited. And mercedes brings up the reality a lot were deported before they could be reunited. 700 more not been. Theres reports about data being lost and kid not being able to find their family. Neil are either of you in the Joe Crowley Camp a guy who lost her Leadership Post by losing a primary in new york, who says that they should be compensated for this . Depends what compensation looks like. Neil money. I dont know if they should be in cages, to give them a handout, i dont know that it depends, because the children will probably have psychological damages for their
lives being disrupted. What does the concern look like. The devils are in the detail. To each child the bottom line. Even if every even those kids who parents then returned or mother or father. Or waived the right to be reunited, too. So who then takes the blame for that . Well, i mean, thats really boils down to, frankly, if you look at some of the ice individuals that did the separating of children. They said, well, we thought their policy meant this. I dont think there was at least its being reported. If you look at the granular level. No one is coming forward and said the president said y, x and z. Neil youre saying that ice took it to the next level. I said it was unclear and frankly, there isnt any its being reported both sides. Neil and theres a lot more than the separation and zero to correcting that. Exactly. But, neil, the bottom line, this came from the zero
tolerance policy from this administration and now well never give this president a ribbon or a political for fixing a problem that he caused. Its just like the farmer bailout. He caused the Tariff Problem and now you wouldnt blame barack obama for putting teens who ended up being in drug mills for illegals when they were locked up . I would not blame barack obama for that, neil. Neil but you would blame donald trump for this . I would definitely blame donald trump for this. Neil so youre not being fair and balanced. I think im being practical. Neil all right. Guys, a lot more after this, including the eu saying its going to do one thing, but maybe its doing another . What a farmer just told us after this. For two times faster absorption so you can have worry free nights, and wake up feeling fresh and free for a free sample visit tena. Us
always discreet boutique. Hidden inside is a super absorbent core that quickly turns liquid to gel. So i feel protected and pretty. Always discreet boutique. If these packs have the same number of bladder leak pads, i bet you think bigger is better. Actually, its bulkier. Always discreet quickly turns liquid to gel, for drier protection thats a lot less bulky. Always discreet. What does the farmers lament have to do with syria . If youll indulge me, the farmer a little while ago talking about his understanding of the european goods, and selling more goods to the europeans and lo and behold, they say thats not in the context. And i want to bring this up with morgan ortega, what and how can we believe on this . Its not to disparage the president or for that matter the europeans, but whats in a socalled settlement when it comes to syria, iran, when it comes to how we handle each and all . So what is your understanding, the threat that iran poses and what we will do in response . So, this administration has taken a very clear idea of iran, which i agree with, they want to stop the iranian aggression and
expansion in the middle east rit large. I think one of the things that a lot of people fail to understand is our policy in syria is irretrievable linked to the policy in iran. Right now on the syrian border, you have Iranian Forces in syria. The israelis are worried about syria becoming a staging ground tore military operations which it already is for iranians. Thats why you saw them shoot down a syrian war plane that ventured into their air space and operations against Iranian Military forces. Neil is that a proxy war . Its a complete and utter mess. In order to have a Clear Strategy on iran, you have to have a Clear Strategy on syria. Keeping assad in power, hes killed thousands of his own people and created chaos and mess and no way the average syrian person is going to have any sort of peace that the civil war will end with assad in
power. It just wont happen. Neil and they say you pull this stunt again on the syrian people, were not going to allow it. Which is a smart move. Neil there are ways of going around that . Exactly. Essentially were saying you cant kill your people with chemical weapons you have to use other weapons. Hes still killing his people. Neil and speaking of this farmer, is something not getting translated properly . I think that the president and his team are in a very tough position in syria because we had for, at least four years, five years under the Obama Administration, an incredibly muddled policy and in syria, the United States, understandably so, has been very leery about entering yet another war zone, another area. Weve had humanitarian assistance and special forces, that sort of thing. But President Trump has been reluctant to get involved. A lot of people want to see the
syrian war wrapped up. The problem is youre trusting the russians to be able to keep the iranians at bay. I dont think that putin has the ability to do that. Neil really, the iranians are rogue now . And National Intelligence says that putin doesnt have the will or the ability to keep them at bay. So the president and his team are right to be tough against iran, to push back against their expansion in the middle east, to be allies with our sunni arab partners ton this, however, the administration also needs to come up with a very clear policy on syria because theyre linked in. And what do the israelis do . Ua ambassador to the u. S. , netanyahu goes to moscow more than washington. That shows what a player the russians are in the middle east. Neil communicate, communicate. Morgan, thank you. Mixed signals, to morgans point. But on the Foreign Policy front
too early to say where it ends up. We know on the economy front, a that, at least is providing positive signs. That will do it. Fox continues after this. Shes saying a whole lotta people want to buy this house. But you got this Rocket Mortgage by Quicken Loans makes the complex simple. Understand the details and get approved in as few as eight minutes. By americas largest mortgage lender