Were going to be speaking with larry kudlow about this and a lot more coming up. Hi everybody. This is bulls bears. Im david asman. Joining me is the panel today. First, lets bring in National Economic Council Director larry kudlow who is live from the white house in a fox business exclusive. Larry, great to see you. Thanks for coming on. Larry, you know the media. You were part of the media for goodness sakes. Are you really surprised that a trumphating media wont give the president credit for the economy . Well, david asman, yeah, ive been in the media for a long time. Let me just say this, theres some really good reporters out there, and then theres some that not so much. You happen to be one of the really good ones, so you cover the beat. Thats all i will say. And i think the president is right. I think that actually you know what . After kind of a dull winter and government shutdowns and this and that, looks to me like were getting the new life into the economy. David yeah. Im hopeful that the gdp on friday is going to come out, you know, 2 1 2, 3 percent if you add on an adjustment for the shutdown it would actually be well over 3. I love the drop in unemployment claims. I love the rebound in retail sales. I love the fact that businesses are spending rapidly. I love the fact that inflation is going down. You know why . Because supply side tax cuts produce production and investment which actually lowers prices; right . More supply chasing demand, i love the whole story. I think the president has it right. Like i say, buddy, some reporters are better than others. David well, thank you for the compliment, larry. Im just wondering about, it is a very optimistic viewpoint where the economy is going. Its certainly turned around from december. But do you think we can make it through the election before theres a recession . I think if the policies stay in place, this is very important, if the policies stay in place, i believe they will, the low tax rates, particularly on business, but also individuals, the rollback of regulatory burdens, across the board, including energy. Were in an energy explosion. I mean, isnt it fascinating we put Additional Oil sanctions on run away rogue state iran, and oil prices hardly went up, and now it looks like they are correcting downward again . Thats a Great American triumph. Were dominant. I want to say with the trade reforms, i think we have a very good chance of some progrowth trade reforms coming up. So if those policies stay in place, they are progrowth, supply side, free market policies. They are private enterprise, Free Enterprise policies. You have a president who believes that business is not a dirty word. That more people working does not cause inflation. That you should be rewarded for your success, not punished. As long as those tenets and principles stay in place, yes, yes, i believe the economy continues to roar as far as the eye can see. David larry, lets think of your Worst Nightmare here, that democrats take over the white house. I havent seen many moderate democrats so far at least in the race, biden would be one if he enters tomorrow, as is planned, but from what you have seen of the democrats move towards the socialist left, what would happen if those policies were implemented in the United States . Well, it would be a rough patch. I mean, look, 2019 is in place. 2020 is in place. Thats not going to happen. Now, if youre right, worst case, i think the socialist policies would be very damaging. You know, among other things, it would zap the morale of the country, the kind of collectiveness, Central Planning that we have seen talking about, government telling you what to do, where to do it, how to do it, etc. , etc. , destroying the private sector. I mean you can take healthcare and universal medicare. You can give away as many free Student Loans as you want. You can pay as many people that dont want to work as you want. You can end all fossil fuels and destroy you would probably knock off inside ten years 15 of the gdp. One of my favorite stats, i know one of the candidates just talked about at some length, the universal medicare for all . Well, guess what . They will wind up being medicare for 180 million. Okay . 180 Million People will lose their healthcare policy contracts. David right. Can you imagine that . That would be the biggest encroachment and confiscation of property in history. And i think its very important that the Younger Group think hard, and i want to talk to them, the millennials and so forth, church hill said if you are in your 20s and you are not a socialist, you have no heart. In the 30s, if you are not a capitalist, you have no mind. A lot of these young people are starting to be working now. They understand the value of the dollar and hard work. So wheym saying is we so what im saying is we must prevent this. We must put socialism on trial and convict it. Medicare for all is one example. Green new deal is another example. There are a lot of other weird things coming out of the socialists. David i want to talk about a couple of things in particular. I understand the japanese representative is coming in this week. Theres talk inside the beltway that maybe theres an agricultural deal that has been penned with the japanese where they would buy more of our agricultural products, particularly meat and pork, can you tell us anything about that . I dont want to get ahead of any stories. Ambassador lighthizer our trade man, best in the business, hes talking to the japanese as we talk right now. Prime minister abe is coming. Hes also a good man. Hes the president ial potus favorite and one of my favorites of the foreign leaders. He loves to do business and talk trade. I dont want to be specific or forecast, but were hard at it talking to them, yes. David lets talk about mexico. The redo of nafta, the usmca, there are a lot of problems as you know on the border. Woe dont have to mention what they are we dont have to mention what they are. Everybody knows. Are they in any way going to affect that trade deal . No, look, the usmca deal is a terrific deal. And the International Trade Commission Said it was the best deal since the mid 80s. We figure that deal, 100 billion dollars in annual gdp over a period of time, and not only strengthening domestic content, lets say for autos and manufacturing, which is very important, but also protection of intellectual Property Rights and patents could spark a tremendous investment boom, a lot of entrepreneurship. I think 3 10 to 5 10 increased gdp per year david asman . David that would be great. Those are big numbers. David whats going on on the border is not going to affect anything thats been decided about the usmca . I dont believe. David we heard about the possibility of tariffs if the mexicans dont help out anymore. They did at one time, but the mexicans responded which what i think potus really wanted and theres some very Good Movement there. Look, we are totally committed to usmca. Bob lighthizer put this together, i think it is the single best trade deal in american history, i mean that. I have been out there fighting for it. Happy to talk about it in on your program. It is so totally progrowth and pro entrepreneurship. It fits right in with all the other things that this administration is trying to do. Im still playing it cautiously optimistic on the china trade. They are hard at it. David china has all of the tensions between the china and the u. S. Have caused a lot of problems, not just here, but around the world. If there is a china deal, what happens to the World Economy . Do we see how big a boom could we get from a good china deal . Well, if its a good deal, or to use the president s phrase, if its a great deal, and if its an enforceable deal, then yes, i think its winwin, growth for everybody. It will help open up chinese economy. If they open up their economy, we will sell them a ton of goods. Our export sales will soar. We are the most competitive economy in the world; right . So if they let us in, well have phenomenal export sales trading across the board and maybe fix some of these terrible technological deals, thefts, force transfers, cloud, but enforcement is crucial. So its got the work. If it does work, yes, i think it is going to add to Economic Growth, absolutely. David larry, final question about the fed. We got a couple of friends who are in the running for that. Herman cane is out. It was made official this week. Steve moore is he still in . If so, when will the president officially nominate him . Let me say a couple things, steve moore is in. He continues to have the backing of the president and myself. He is in the process. You have to be vetted. The fbi and so forth has to go through everything. And then at that point, if it looks good, he will be formally nominated, sent up to the hill. The Senate Banking committee will go through their own vetting and voting process. I wish him luck. We stand completely behind him. I think he would give us a breath of fresh air on the fed. Listen, david, you have never heard me say this. More people working and succeeding do not cause inflation. [laughter] if somebody on the fed can get up and say that every day, like a mantra, like the lords prayer, this is the lords Economic Growth prayer, okay, if they can do that, it would be a Great Service to the fed, and by the way, i think the fed is starting to move in that direction anyway. So were still behind steve moore. David by the way, just for the record, i have been hearing you say that for the past 30 years. It is nothing new from larry kudlow, but now were seeing it in action. You are right, inflation is coming down even though were growing the number of jobs like never before. Great to see you. Dont be a stranger. Come see us soon. Any time. Appreciate it. David appreciate it. Lets bring in our panel. What were your big take aways from what you just heard . Im very happy to hear larry talking about the usmca in a really positive way. I frankly havent heard that message much from the administration. Last night i had the opportunity to talk to canadas consul general here in new york, and she has been making the rounds trying to get democrat legislators on board with this thing. I think this is going to be a struggle only because they dont want to give President Trump any victories between now and the election. Two several points that he brought up, he brought up china, should that happen, i think maybe there is already a pricedin into the market so i think we may not see as big of a reaction as we are expecting because we dont know how were going to follow through with making sure china doesnt do that. I would like to preface too that often we use the stock market and the economy as interchangeable, they are not. The stock market is based off of investor expectation. Yes, the economy plays into it, but theyre separate entities. And then the other third part that larry didnt bring up but it is a bigger picture, the fact that debt is at 22 trillion. We spend half 500 billion dollars on interest payments. These are something there we go. It is something we should consider, especially our obligations of social security, medicare, all of that is coming into play. Those are answers i would have liked to have heard. I will tell you, obviously larry kudlow was spot on. I would like to connect it to the regular people at home, and the wall street journal did such a great job with that yesterday with a new poll. We talk about the stock market numbers. What does that translate to . Retirees and people have more confidence right now in their ability to pay for their own retirement and have Financial Security in their retirement at an alltime high. Thats what this economy means. We talk about the ups and downs in the stock market. I get it. But for the people at home, thats what they are taking away from this, and thats great news. Thats the help too, guys, of the fed. David, your interview was great. It goes to show you we need more guys and gals in d. C. Like larry who understand inflation and the causes therein because thats exactly what has happened with the federal reserve. You know, they were on this Interest Rate hiking policy kick, you know, for several months last year, and then all of a sudden, they turned after the president calls them out, they look at data and follow the right path. Look at whats happened with the stock market. Its rallied since. David thank you very much. Tesla Quarterly Results due out at any moment. We have been saying that for more than an hour now. We will bring them to you as soon as they come out. Meanwhile, Illegal Immigrants are coming armed to the border, and President Trump says the only way to counter this, look at that picture, is with increased military presence. We will be speaking with a border agent coming next. We humans are strange creatures. Other species avoid pain and struggle. We actually. Seek it out. Other species do difficult things because they have to. We do difficult things. Because we like to. We think its. Fun. Introducing the allnew 2019 ford ranger built for the strangest of all creatures. 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Com moving to get started. David susan lee is standing by in the newsroom. Big headlines from facebook and microsoft. Im listening into the facebook Conference Call right now as we speak. And we heard from Mark Zuckerberg again pledging to go private. In fact, hes encouraging more countries to adopt what the eu has adopted in terms of the protecting data rights of users. He says he expects more countries to do that, hence his privacy manifesto, hence the encryption. He points out that facebook by the way is still not the largest messaging service in the u. S. And also in china. As for earnings itself, we did see the stock pop in the afterhours. Beat on the top and bottom line. And daily active users often coming in better than expected. A slight tick pretty much in line if you want to call it. Looking at daily active users on all platforms 1. 56 billion daily. Thats each and every day folks. A little bit better than expected. Monthly active users 2. 38 billion around the world that use one of the facebook platforms each and every month. These are pretty encouraging numbers that we saw, but the big headline maker for facebook is the ftc settlement, at least what they are putting aside in anticipation of the settlement of 3 to 5 billion dollars, which they say will bite into their bottom line, and you know, we have been looking for some sort of numbers since this has been in the reports and the headlines that there was some sort of settlement to be negotiated with the ftc, but they say that theres no deal so far david susan, i have to wrap you because we have a lot more news. We finally got tesla results that came in. Lets go straight to the newsroom with the headlines. It was an epic wait for these numbers coming out past the 5 00 mark. But tesla did not make it on the top and bottom line. Lets start with the revenue. The expectation 5. 19 billion. Tesla came in at 4. 54 billion. So a little bit light on the revenue side. On the eps side, the loss was steeper than expected. 2. 9 o. The estimates were looking for 69 cent loss. Couple other key items coming out of the earnings release. Model 3 figures, 63,000 in the first quarter. Analysts were looking for that number. Also gross margin on the model 3 about 20 . This is figuring into the calculations. Cash position for tesla down from 3. 7 billion to 2. 2 billion in the quarter. Remember, tesla was a company that had turned a profit for two consecutive quarters. As you can see, back down to a loss here. On the Conference Call at 5 30, guidance, thats going to be really important but you can see the stock is actually trading slightly higher after this report. David well, it is, even though we were expecting we called it earnings. They are not earnings. Its losses. Exactly. David jackie, welcome to fox business. Thank you. David a great new addition to fox business. Thank you very much. The situation at the border continues to intensify. President trump is doubling down on his threat to close the southern border and now says hes going to send armed troops to the border. National Border Patrol Council Vice President is joining us now on the phone. Hector, we had some shocking images today of smugglers with ak47s who were crossing into u. S. Territory with illegal aliens. It makes a lot of people wondering are we close to armed confrontations here . Well, thats exactly whats been happening on the u. S. Mexico border. As a matter of fact, just last week, we had mexican soldiers that detained some of our National Guard soldiers that were working along the border. We are seeing some of these mexican soldiers work with the cartels in a corrupt manner, and they are engaging in criminal activity along the border. Now, weve seen this before. Weve had some of these criminal actors with dangerous weapons that have been shooting at other agents across the border. So yeah, it is a difficult situation on the border right now. David scott, go ahead. Great point about the soldiers working with the cartel. I mean, thats the concern ive had all along, hector, is what is mexicos capacity to actually step up and help the u. S. , either with these caravans or like you mentioned with some of the Cartel Members coming over . I mean, besides some veiled economic threats that weve thrown at mexico. Whats the right strategy with getting them to step up and actually help keep some of these people out and from coming into the United States . At the end of the day, we know mexico has a long history of corruption. We know that mexico works hand in hand with these cartels in order to try to achieve peace in mexico, but definitely what President Trump is doing in putting pressure on mexico is the right move. I know that President Trump has been talking about shutting down the border in certain areas along the u. S. Mexico border. And thats some of the steps the president does have to take, they are extreme measures, but we are in a desperate situation. [inaudible] President Trump sending more troops to the border. Hector, question for you, how are our troops, Border Patrol agents, everybody, how are they allowed to respond . If somebodys brandishing a weapon, are they allowed to shoot . If they are shot at, can they respond . How does it work . I feel like were totally the victims here. Yes, so we do have very very good policies in the u. S. Border patrol. We do have use of force policies that dictate how were going to respond to some of these threats. Our agents are highly trained and they do know how to respond to threats. If their lives are at risk, they are authorized to use deadly force against these cartels, against mexican soldiers or even an an alien that might be attacking them. Our agents have received great training where they will make good decisions to know when to use force and not use force. Hector, thank you very much for your work. It is incredible how many migrant families are coming over to the United States. We can maybe say it has to do with the Strong Economy and dire conditions in south america, but what are you seeing once these families are apprehended and where theyre being taken . Is there a lot of people being put into certain areas . Like, whats the vibe with all these migrants that are being apprehended . Again, a lot of these people what they are claiming is asylum, but we already know that a big percentage of the people that come through asylum never follow through the process. What that means is they are abusing the immigration laws. They are abusing the asylum process. Once they come into our custody, unfortunately, because of different constraints of the law, we are not able to detain them. While a lot of these people are being released into our communities, and many times these people that come across end up in the destination that they were attempting to reach, and that could be anywhere in the United States. We know that President Trump was talking about sending them to sanctuary cities, and thats something we do support. He should be doing that because these sanctuary cities are encouraging illegal immigration. David hector garza, we have to leave it at that. We are so grateful that you and your comrades are doing at the border. Hundreds of thousands of people, i know it is almost an impossible situation. You have your hands full. We are very gratef fufu fuful f support. We appreciate it thank you for your support. David do democrats have a Party Problem . Well debate that, coming next. Limu emu doug look limu. A civilian buying a new car. Lets go. Limus right. Liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. Oh. 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Gang, whatever happened to Party Loyalty . Well, i think what were about to see is the Democrat Party or the Democrat Socialist Party as they should be labelled tear themselves apart. It really doesnt matter which of the 20 or 30 candidates comes out of their primary process. Theyre going to emerge broke, broken, bruised, and theyre going to inherit a Democrat Party thats not adding donations. Its adding debt. And they are miles behind the president in fundraising, in data, the rnc, the National Framework that weve got put in place, they are headed toward a cliff, a socialist cliff, and they are about to fall off of it. To that point, you have the money part. You have Bernie Sanders thats already amassed about 26 Million Dollars thus far. Joe bidens come in with 0. But he could potentially start raising 100,000 per day up until christmas. That number is according to to the new york times. You talk about age, though. The president s 72 years old. Joe biden is 76. So theres not that much difference. Lets not bring david in the way they look. Lets not bring in ageism into this conversation. I do think joe biden though faces a lot of competition from the Democratic Party. There are rumors he will be pushing forward Climate Change as his platform as well. I wonder how that will resonate given the Democratic Party leaders right now candidates are trying to distinguish themselves. He will be coming out with a Climate Change platform, maybe. Before we get to too crazy that hes a moderate, he calls himself the most progressive democrat in the race. I think the sanders followers being angry about what happened in 2016, they wont vote for President Trump, i dont imagine, but theres a good chance if he doesnt get the nomination, they dont vote at all. I think thats a real risk for the Democratic Party. We saw that in 2016 by the way. A lot of them simply didnt vote. So i think this is an issue. A lot of democrats still say oh bernie is not the one. He doesnt have a chance. He does have a chance. This is a good reason why people might vote for him. No, i think you are right, liz. I dont think those voters go to trump, you are right about that. I will tell you what else would be great, guys, is what im hoping for, imagine the biden trump debates and so forth. All the amazing. David dont forget biden is the one who actually said im going to take him out to a wood shed and sock him or words to that effect. You think of bernie in the 2016 i dont know if you remember, mark, in the 2016 democrat convention, bernie was way up sitting in the rafters, way out of the spotlight, just sitting there fuming because he knew that they had cheated on him, and he knew that they had essentially stole a lot of the votes. He could have been the nominee in 2016. He could, and they rigged the system against him and then they still lost. Again, i dont think it matters whether its bernie, biden, mayor pete or whomever, theyre going to face a president in President Trump with a tremendous record that weve already talked about on the economic side. He has a Massive Campaign finance and a Campaign Operation behind him, and just to the point that was brought up earlier, about the money that bernie has raised, President Trump has raised 21 times the amount of money that barack obama had at this point during 2011 and the year before his reelection. Just to put it in perspective, they are about ready to walk into a brick wall that is going to be emblazoned President Trump. David follow the money, as they say. Thanks, gang. Seattle businesses sounding off on a rising homeless crisis and crime in the city. What the city is doing to tackle both issues. We will take you there live, coming next. vo i know what youre thinking. Electric, its not for you. And, youre probably right. Electric just doesnt have enough range. 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If you cant afford your medication, astrazeneca may be able to help. This is a very difficult job. Failure is not an option. A. More than half of employees across the country bring Financial Stress to work. If youre stressed out financially at home, youre going to be too worried to be able to do a good job. I want to be able to offer all of the benefits that keep them satisfied. It is the people that is really the only asset that you have. Put your employees on a path to Financial Wellness with prudential. Bring your challenges. David Seattle Washington is now facing a major homeless crisis that is getting worse by the day. Its driving some local Business Owners out of the city and they are pointing their fingers straight at the city council. Robert gray is on the ground in seattle. Robert what are the details . Thats right, david. Homelessness has spiked by 50 in seattle over the past decade. The seattle economy is booming here with the fortune 500 Companies Based here, amazon, starbucks, costco, microsoft in and around this area, but of course thats also crunching the Housing Affordability here. Much higher for rent or median home prices than the national average. There are obviously folks with Mental Illness issues as well on the streets. But it is not the general Homeless Population thats really troubling most small Business Owners here. It is this growing group of transient vagrants, many of them coming from outside of seattle that are coming here that are posing a threat to their livelihood and to many of them their health and safety. Residents and Business Owners say the street crime situation has worsened considerably in just the past few years. They are blaming lax legal enforcement as well as unresponsive city officials, and keep in mind, all of this not helping Small Businesses in what we all know is a very tough retail environment. Were fighting things every day for, you know, competition, the Online Business is, you know, a huge for any brick and mortar store. And for you to have to worry about a customer coming in and the experience that they have is someone out of their mind on drugs yelling and screaming at them. It is hard to overcome. Yeah, for sure. You know, we experienced some of this firsthand. We were accosted by a group earlier, and weve interviewed several people who have been, you know, attacked themselves in recent weeks and years here as well, david. This is going to be a hotbutton issue as 7 of the 9 City Council Seats are up for grabs this year and a lot of people telling us they are fed up. Back to you. David same thing happening here in new york. Robert, thank you very much. Gang, are seattles policies just making its homeless problems worse . Well, first of all, lets discard the idea that its a housing issue. These people are most likely not the kind of people that are going to be buying houses or renting houses, even if they are affordable. Most of them have Mental Health issues, drug problems, etc. The answer is in these blue cities, new york being one, san francisco, seattle, etc. , they have taken such a soft line on enforcing laws and getting rid of things, like vagrancy laws that now anything goes. I mean, in new york city, which i know better than obviously what goes on in seattle, people can do anything on the street in front of your house, etc. Nobody takes any kind of enforcement against that. And guess what . Eventually you are going to continue to lose people. Taxpayers are going to say where are my tax dollars going . Security is the number one thing people expect from their government, and they no longer have it. Its outrageous. You are right. I mean, you are right, liz. Were past the tipping point. Thats the scary part. Were well past the tipping point. The chips have spilled out all over the floor. It is going that way. Thats the concern, Going Forward here, the policies of these states, by the local officials, consumers and local businesses are upset by this, what are you going to help them . Are you going o the tax them more . Regulate them more . They are going to move out and take the tax dollars away and the government will be left with a bigger migrant population or problem and therefore you will have more problems than they have today if they think today is even bad. I want to bring back lizs point because i do believe im talking about new york city because ive seen it here. Its become more relaxed, but i dont think we should be criminalizing the homeless. I dont think enforcement is always the answer. I dont think we can arrest ourselves outs of this situation. Arrest ourselves out of this situation. I think we need to address mental help. There used to be places in seattle where they could go, single room housing units, like the ozark hotel, those are gone. Those are contributing to the lack of facilities where a lot of these people with Mental Health can go. I think thats a big part of it. Why these vagrants came in there, that i cant understand why thats happening. David because they are enabling them with all kinds of offers for free food, and they do have free we have more housing for the homeless here in new york than we have ever had. Often if you look around and people that are watching our show right now do not see that a lot of these people out on the streets have mental instability . They need medical help. Thats a great point. I think people would actually pay up to have some Mental Health help for some of these folks because that would help fix some of the problems versus throwing the tax dollars down the drain and saying yeah it is going to go other places where we cant tell you where it is going to end up. Exactly. This just proves that the liberal policies of these cities are all complete failures. To the earlier point, people are getting fed up. Already some of the highest taxed people in our country. They also have some of the worst problems. It is not going to be too long before the residents and the businesses say enough, im washing my hands of it, and im taking my money, my revenue, my employees out. Were going to go to other places where this is not a problem. For those people, lets look at it on the national stage. We will have this argument next year. If you want these liberal freeforall policies that produce more problems or do we want the common sense Free Market Solutions that bring the answers . David theres another point to all of this, which is policing power. The police very often are hamstrung. They cant do anything about these people because they have Mental Health issues and even if they are threatening innocent people, and i have seen it in my own neighborhood in new york, where we call the police because a homeless person is threatening somebody, an innocent bystander, and they cant do anything. The police throw up their hands. What are you going to do . Well, i just actually want to pinpoint marks point. He just politicized it. I dont think thats the answer. Theres more Homeless People in metropolitan cities. This is not a liberal or democrat versus republican situation. This has been going on for quite some time. David there are good times and there are bad times. Now is a bad time. We have to run, gang. Thats it. A new report on what went wrong with samsungs 2,000 folding phones and why they may have been rushing to get them out. Details coming next. Of mastery. Lease the 2019 es 350 for 389 a month for 36 months. Experience amazing at your lexus dealer. When heartburn hits, fight back fast with tums smoothies. It neutralizes stomach acid at the source. Tum tum tum tum smoothies. Also available tums sugarfree. Comcast business built the nations largest gigspeed network. Then went beyond. Beyond chasing down network problems. To knowing when and where theres an issue. Beyond network complexity. To a zerotouch, onebox world. Optimizing performance and budget. Beyond having questions. To getting answers. Activecore, hows my network . All sites are green. All of which helps you do more than your customers thought possible. Comcast business. Beyond fast. David samsungs need to beat its competition to punches backfiring bigtime according to new report, pressure to get out of apples shadow and be a, quote, true innovator led samsung to rush their 2,000 galaxy that foldable smart phone out to market before they should have. Lets bring in mobile nations Senior Editor russell holly. What do you make of the report . Im actually not sure i would put this so much on apple as i would huawei. Both of these companies are looking to put out the foldable phones really quickly. Motorola is behind them with another one. The big turn up here seems to be the Third Party Company thats taken one of these phones completely apart and shows whats very likely here this is kind of unconfirmed samsung will release their own official report but it seems like theres some space in between the edges where you fold the phone over, where just doing something as simple as leaving the the phone in your pocket can cause dust to get in between the layers so when you fold it, it could puncture through the screen at one point. I find it mind boggling they did not catch these errors, these flops. Do you think this is a bigger problem of the industry as a whole . We have a company rushing to market. Smart phone sales down almost 5 . People are holding on to their phones a lot longer. So that means the cycle of replacement doesnt happen as soon. Is that really the problem . You are definitely looking at a couple of those things here, in my opinion. The first thing to keep in mind is that this is a phone thats unlike anything else thats available right now so there is no maybe i can keep ahold of my own phone and keep some of these features. That doesnt exist in this situation. You upgrade to this phone because you want something radical and new. You are essentially a beta tester for samsung. There are a lot of things come into the software in the limited amount of time that its been used was really clear it wasnt fully baked yet and not entirely ready for i wouldnt give this phone to my sister but it is something i would probably use and figure out over time. It is scott martin. I would probably give this phone to my brother but thats because he likes phones. Did they screw up the price point, though . This phone is 2,000. Is a phone i guess is a smart phone ever worth that much money . And secondarily, is that even the right price point for what you are getting with this smart phone . Its a really interesting question and a big part of that conversation is thinking about what it is that youre actually getting with this. It is a tough thing to answer. You keep in mind that we were actually having this same version of this conversation nine months ago when we saw phones break the 1,000 price point with apple and samsung and several other companies. The 2,000 price point you are adding two devices together. You have the thousand dollar phone experience which samsung is leaning on as being something they have proven their worth and you are adding the whole tablet experience when you open it up. The cost of ipad mini, you add into the cost of a regular iphone, getting not too far away from the 2,000 mark already. Russell, i think thats right. It seems to me with the explosion in streaming services and people watching everything on their cell phone or smart phone, this is such an obvious opportunity for somebody to kind of capture the next thing, which is, yes, you have a smart phone, but boy it opens up and you can really watch a movie very comfortably and enjoyably. Samsung is not stupid. The rewards for having the first one out and really conquering this thing must be enormous, i would think. Weve seen several companies over the last couple of years approach this whole answering this question, what if you had one device that could do everything . You have the phone that does the phone thing and open it up and do the tablet thing and plug it into a monitor at a hotel room and you have a full desk top experience. That experience samsung has been trying to sell. Microsoft has done the same presentation over the last couple of years. That what if hasnt been met by a single piece of hardware thats done it and samsung is gearing for that here. Are we looking at we cant fit anything bigger in our pockets or our purse . Now the question how can we jam more things into it to make it bigger but also not bigger in im personally very excited to see the first person who tries to slide this thing into their back pocket and sits down somewhere and they will be very surpris surprised about what happens next. [laughter] motorolas reveal might be the razor phone, where we have something that flips out and has that foldable display. Were not so much going for bigger or taller, so much we are how much we can make it so its thinner but still, you know, able to be movable. David it is weird how were going back to the future. Steve forbes will be very happy. He still has his original flip phone. Russell holly, great to see you, thank you very much for being here. Appreciate it. Good stuff. Thanks for having me. David Oil Executives boosting their salaries just a day before a multibillion dollars merger. Coincidence or is this crony capitalism run amok . 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. Going back to the doctor just for a shot. With neulasta onpro. Patients get their day back. To be with. Family. Or just to sleep in. Strong chemo can put you at risk of serious infection. In a key study. Neulasta reduced the risk of infection from 17 . To 1 . A 94 decrease. Neulasta onpro is designed to deliver. Neulasta the day after chemo. And is used by most patients today. Neulasta is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome. Have occurred. Report abdominal or shoulder tip pain, trouble breathing. Or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes. Fatal crises can occur. The most common side effect. Is bone and muscle ache. Ask your doctor. About neulasta onpro. Pay no more than 5 per dose with copay card. David anadarko oil in the middle of potential bidding war after Occidental Petroleum made an offer of 38 billion dollars to buy the company. This coming after chevron agreed to buy for 33 billion dollars earlier in the month. Oil executives at anadarko sitting pretty either way, reportedly boosting their own payouts just a day before announcing a deal with chevron. The ceo walker reportedly getting 43 Million Dollars. Thats almost 7 million more than before changes were made. So gang, heres the question, is this an example of crony capitalism at its worst . Its pretty bad, david. The optics are not good. Obviously the shareholders did not vote on this boost. The board did. It goes to show you you keep shareholders close and keep Board Members closer. Thats what happened here. The sad thing too shareholders also if you look at since walker took over this company as the leader, i think it was back five, six years ago the stock is only up with dividends reinvest about 3 and it is trailing considerably behind a lot of its peers so he hasnt done a lot of great things for the shareholders over the life of his tenure. Scott makes a good point. That i think is more important frank frankly than this last minute changing the year end pay. These guys wont have a job after this deal goes through so i dont think it is totally shocking that the board would try to compensate them for seeing the deal through. I think the fact that he is making so much money when the stock hasnt done well and company hasnt done that well is more compelling to me. David since 2012 by the way when all these talks of mergers and buyouts began, 127 Million Dollars, thats more than pretty well. Yeah, i think theres one calculation i saw online that he could potentially have a payout of 67 Million Dollars too. So whats the solution . Do you have to have a better governance . A group to oversee the board in these decisions . The shareholders will have a vote right. But my guess is it wont come to anything. I guess to answer your question then, the answer is yes this is an example of crony capitalism. We look at the stock price of both those. Anadarko is trading a bit higher because i think the expectation is there potentially could be a higher bid, trading higher than chevrons offer price so maybe theres going to be a little bit of a battle. D david mark, this plays into the play book; right . I think we need to rename it. It used to be called the golden parachute now platinum parachute. Getting 43 Million Dollars to go away, a lot of people would take that and go home. In terms of government regulation, since im on the political side, i usually try to stay out of that lane. David yeah, well there is room for government regulation. Maybe this is one, maybe not. We will see. All right, gang. That does it for bulls bears. Thank you very much for joining us. We will see you back here next time. Liz major developments tonight, north Koreas Kim Jongun in russia about to meet with putin. Were going to also talk tonight about President Trump declaring the economy is on fire. The stock markets on fire. 9. 1 trillion dollars added in market value since the president was elected. The president now warning democrats looking to impeach him that he will fight them all the way to the supreme court. We have that debate tonight. Plus the do nothing democrat house, new data coming in, this congress is enacting laws at half the rate of the last congress. More on that and also how top moderate democrats are now hitting the panic button about losing 2020. The battle for the border, the government releasing