Needed more. Welcome. This is bulls bears. Thanks for joining us. Im david asman. Joining me today, jonathan hoenig, kristina partsinevelos, Gary Kaltbaum and liz peek. Swalwell is out but reports are swirling that california billionaire and antitrump donor tom steyer is considering jumping in to 2020 the 2020 race as early as tomorrow. Sources say one of steyers first attacks could be on President Trumps claims that the economy is now thriving under his leadership. With President Trumps Approval Rating now at an alltime high, including his handling of the economy over 50 , how can he, steyer, or any democrat, win by arguing that the economys bad . I think its an incredibly tough road to make that case. Americans are convinced because they see it in their daily lives through higher wages, through Job Opportunities they havent seen before, et cetera, that they are doing better than theyve done in decades. So i think this is not what is going to bring him into the fore. What he really wants to talk about is Climate Change and impeaching donald trump. I dont think hes going to get anywhere blasting this economy. May i say theres still 483 days left until the election. David i was hoping you wouldnt say it. But if unemployment is in the 3s, if gdp is in the 3s and the markets doing fine, i can promise you there is nobody thats going to beat President Trump because its simple, it really is the economy. It is about jobs. And there are many more people with jobs now and some pretty decent jobs than before the president became president. So its going to be a real tough road but a ways to go. The interesting thing with him is that he has hes canceled before. He said he would run for president in january, said he would run for the u. S. Senate in 2016, said he was going to go for Gubernatorial Race in 2018 i think it was. You have all of these he said hes going to do it, then pulls out last minute. Yes, hes been really funding this impeach the president impeach need to Impeach Group, he spent 50 million on this group. They have eight million members. How is he going to stand out amongst all of the candidates . I looked at this ballot, theres a website called ballotpedia. Org. There are 766 people running for president. That is a crowded debate stage. David hold on, ladies and gentlemen. We have the soccer team coming out right now. They are in Newark Airport. There they are. Raising the trophy high. Congratulations, ladies. Its a long trip but the adrenaline is flowing. They are going to have a big celebration here in new york. In fact, we may have a ticker tape parade. You are a big fan. Im going to be reporting on it wednesday morning. David fantastic the parade starts 9 30 a. M. In lower manhattan. David 9 30 a. M. Imagine all the ticker tape there. That will be fun. David lets listen to a little bit of this. Im not sure who those people are, to tell you the truth. They were shaking hands with the soccer stars. Probably soccer officials. David i think so. City officials. Everybody wants a piece of facetime with that group. This is probably the most popular sports group in america right now. There were just so many games that stood out. I remember that one game, remember the highest scoring game of all time, i think it was 130. People were questioning whether they went a little too far in their enthusiasm. Whats amazing is how few goals were scored against america. Almost none in the entire tournament. Its really extraordinary. David unbelievable. By the way, i for one was all in favor of them scoring as many as they wanted to. Its a game. Its about scoring. I heard somebody laughing. Gary, go ahead. Not me. Im not laughing. Listen, you are supposed to play this game to win and its incumbent upon the other team to play some defense. Exactly. They were not able to. Kudos to them. I loved seeing it. God bless america, god bless these women for playing their hearts out and winning the whole world cup. David if you are listening to the music in the background, its we are the champions. Remember that great song . Dont sing, david. David lets just listen for a second. We are the champions we are the champions no time for losers for we are the champions thats fun. David all right. We will have more. Of course, theres a little bit of sour news in this great news story which is the issue about pay. Some people are saying that the women are not paid enough. Other people say they are paid more than enough considering how much revenue is brought in. We will be discussing that issue coming in. But i stopped i believe it was jonathan in midsentence. Go ahead. We are talking about steyer joining the race and saying this is a bad economy. Go ahead. Yeah. Look, we are celebrating this free country, celebrating these young women and congratulating them on their victory in this free country. Tom steyer basically has everything you need to run for president. Hes 35 years old and hes got a lot of money. David hes not 35. He is of the age of 35 and hes got the money to do it. David i see. Hes over 35. Yes. Yes. Hes over 35. But hes got about as big a chance as say hi guy. He has no chances. For better or worse, being antitrump is not going to win you the white house. David hes already got a track record, antitrump track record that didnt work out too well. In 2016 he spent about 100 million. It wasnt only on keeping trump out of the white house. It was also on a lot of other things, environmental issues, et cetera. He didnt do too well. He did okay in 2018 in the midterms. Got to give him that. In 2016 he didnt keep trump out of the white house. Go ahead. I would like to add one thing. Its not just the side of trump and what the economy is doing. If you watched the first debate, all you took out of it was more government, higher taxes, more regulations, more victimhood, more government. Again, more government. Again, a lot more government. I got to tell you, that is not going to sell well if the economys still doing well based on lower taxes and less regulation. Donald trump will have an easy job selling what hes done if the economy stays in shape. I think thats true. I think tom steyer is an interesting character because he actually has launched not only the need to Impeach Group but also a next gen group which really focuses on young voters, bringing young voters to the table, making sure they are registered, et cetera. I think for democrats, thats a very important thing that hes done for them. Interestingly, the left is really blasting him now for wasting tens of millions of dollars on what they consider to be a vanity run instead of backing candidates or putting his money into pacs that could really help them win in 2020. A lot of people see this as nonproductive. David maybe liz warren will talk about it. Could the fight for 15 cost you your job . A new government report showing a huge minimum wage hike will mean a raise for some, but job losses for others. We will break it down, next. Most people think a button is just a button. That a speaker is just a speaker. Or that the journey cant be the destination. Most people havent driven a lincoln. Discover the lincoln approach to craftsmanship at the lincoln summer invitation. Right now, get 0 apr on all 2019 lincoln vehicles plus no payments for up to 90 days. Only at your lincoln dealer. Who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. Expedia. Everything you need to go. Their medicare options. Before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. 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Case in point, berkeley economists put out a study, a large one, three million homes, 51 wage changes, and they found there was no reduction in the number of hours david but it was berkeley. Wait, guys. Give me a second. I will share both sides. You got berkeley, you got the London School of economics saying it didnt do anything. You also have the Harvard Business school as well as the university of california that did find that it did change. It really just depends which study you look at. Going back to 1938, when the first minimum wage was instituted, our own Labor Department said that in fact, yes, of course minimum wage destroys jobs, it destroys those first entry level jobs for people just getting on their feet, just learning the skills to begin to go up the ladder and so you can go back to 1938, you can even go back to 2017 in seattle, after they instituted their minimum wage, the average takehome pay for low income people actually went down 124. Minimum wage discriminates against low income people, it destroys their jobs and like all these government intervention, it hurts the people it supposedly wants to help. I think following up on that, i think where we have really seen that and what the cbo study said was that teenagers would be the people most badly affected by this. If you look at, for example, france, frances youth unemployment is off the charts high and they try to combat it by changing some of the rules which really discriminate against make it very hard to hire young people, then fire them. Something that companies have to be able to do, because they are basically working with unproven tale talent, if you will. So i think its a really bad idea for that. The second thing thats wrong with it is the choice to oug automate is going to be propelled by the cost of labor going up. Once you have done that, there is no going back. You lose jobs because of that and thats final. Berkeley in their study should take a fly. Theyre forgetting something very important. This money doesnt grow on trees. It comes from the business owners. You tell aunt mary and uncle bob that next year, they growing to have to spend 50,000 more on minimum wage without any productivity gains and guess what aunt mary and uncle bobs going to do . They are going to listen to that salesman that comes knocking at the door about the kiosks that will save all kinds of money. Somebody who would get paid 10 an hour but not 15 going to lose their job. This is again a bureaucracy, people who have never run a business telling people what to do. David we have to emphasize, in kristinas favor, these are all guesstimates. The cbo doesnt know any more than the people at berkeley any more than the people at harvard. However, liz brought this point up in the past, every state is different. You shouldnt have a national 15 15, you may just barely get by in new york city but in oklahoma, that could mean a lot. Why have a nationwide standard when it doesnt fit . To that point, what we are already seeing with a lot of companies, costco being an example, amazon is increasing minimum wage, costco going up to 15, amazon 11, eventually 15. Walmart, 11. A lot of these companies are doing it on their own. We need to force it . That is something we can debate. They are doing that because we have a tight job market. Thats really what the ambition is for every economic policy, make it so that companies have to raise the wages. We dont even need to debate it. Its stupid. It makes no sense. Gary, are you going to say that to all the economists that have researched this . They called three million homes . The only economists that matter are the people running the businesses let them decide what they want to pay. If somebody only produces 8 an hour worth of productivity i agree with that. I understand that. You cant pay them 15. David amen. We have to move on. Tensions rising in the persian gulf. 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Easy. Awesome. Ill pass. David President Trump has warned quote, that iran better be careful, not to mistake american restraint for american weakness against irans defiance on rebuilding its nuclear program, specifically its plans for uranium enrichment. Lets bring in walid phares. Are we headed for a military showdown . The Iranian Regime does not want a confrontation directly with the United States at this point in time because they will lose. However, they have a plan b and the plan b is to have their militias, not them, not the government, engage us where, in syria and iraq. Thats why we are beefing up our forces in what i call the northern front. Its jonathan hoenig. Thank you for being with us. Iran is the number one state sponsor of terrorism in the world. For many, many decades now. They have shown no sign of stopping their ambition to pursue a Nuclear Weapon. Is there any way to avoid this without military confrontation, and more specifically, President Trump kind of hesitated because he was worried about potentially killing 150 iranians with that strike. Is there any way to have a military conflict with not at least having some iranian casualties to make this Nuclear Threat nonnuclear . Two things. The president and the administration really want not to engage in a big war if they can. But at the same time, theyre not going to allow the Iranian Regime to develop not just the nukes, basically the longrange missiles because if they develop the missiles, its not to throw roses. Its basically to use these weapons. So now we are in the Twilight Zone between what the iranians want to do and what the president wants to do. So if we basically force iran back to the negotiating table, which presumably is the purpose of the very hard sanctions, et cetera, what are the one or two specific things we want to change in the jcpoa, in the pact that prohibits them having a Nuclear Weapon for some period of time, 12 years . First of all, that we can monitor. Thats the most important thing. Europeans will be with us on this issue. Second, press on the delivery system. On the missile. On the missile. The deployment of the missiles. One thing if those missiles are in iran, another if they go to yemen, iraq, syria, lebanon. Then we are in a much more difficult situation. We would want them to keep the missiles under sort of surveillance or something. First not to develop further, not to buy more from russia. They have 150 billion so we want to make sure they arent going to use that cash to buy those missi