Is at the house antitrust hearing. Hillary, can you tell us, what do you know . Reporter this is an interesting hearing. These companies are trying to convince lawmakers that their competitors are competitive with them. So they are hyping up their competition. We heard from google executives who say they face intense competition for companies over their search functions. Facebook says they have competition from snapchat, skype, and ticktock over their idea video sharing. But not every lawmaker on the panel bought the argument that these companies are in a position to defend their market share and fight for user competition. I think you are in a unique chair in a unique position among those seated at the table. Each one of you occupy a unique and dominant position. But facebook is stands alone in terms of social media. Any other social media platform that can compete with facebook . There might not an identical competitor to facebook but there is significant competition in advertising. Reporter amazon says their competition is not just online platforms, but brick and mortar stores. They have say the idea that the same product bought online versus bought in brick and mortar doesnt mean those two businesses come feet with east other. They say every day they face competition from brick and mortar. But lawmakers wanted an explanation on whether amazon uses their platform to create duplicate products that sell better . You are selling your own products on a platform that you control and they are competing with products in the marketplace from other sellers. That practice has been common for decades. Am zone is a trillion Dollar Company with Realtime Data and billions in purchases and commerce and can manipulate algorithms and favor their own product. Thats not the same as a local retailer with a cvs brand and national brand. Its quite different. Reporter amazon makes the point they have a lot of their own brands but that represents Single Digits compared to other companies, Grocery Stores with 20 to 80 of their product is their own private brands. Reporter there was a lot to talk about and big pressure on technology. Jonathon, i almost feel like i know how you are going to answer. You have catch hill, they are going after big tech. Do you feel its warranted . Do you think they should be butting in. It its frustrating. Facebook is a monopoly . Come on. You have twitter, we chat, snap chat, pinterest. There is no monopoly in a free economy. The monopoly is government. Reporter do we really have a free economy of when you have tax breaks for the big companies. Thats a red herring. To hear these senators and Congress People complaining that they should be broke up and regulated because these guys are concerned that they dont have more followers or retweets. Its shameful. Butt out. I would agree with jonathon but i would phrase it differently. They are very different companies. Secondly be yes they are too powerful, but no they should not be broken up. You have regular free Market Competition and they should have oversight. For those in the content media and publishing space, they should be regulated the way fox or nbc is regulated. Google is totally different than twitter. This is just the jumbling everyone in because they happen to be Historic Companies that dominate their space. But they should not be broken up. You have got these rare over cases where republicans and democrats seem to agree on something, thats that they dont like big tech. Robert is a democrat and im a republican. But i agree with you that these companies should be able to flourish. Its not easy to stay at the top of the tech world. Maybe there has to be some oversight what these companies are doing because much their size. Arent we feeling a patriotic twinge that all these companies, amazon, google, facebook and the rest are American Companies . It doesnt matter if they are mayor scan companies if they are exploiting our data or not protecting it right. We need to come up with regular installation where they are information fiduciaries. My information, they go get it in aggregate. You give it to them voluntarily. No, i dont. They buy a lot of me up information, especially from the Credit Card Companies and do a profile on me. First all you are wrong there. Second of all its not and free market economy. Its a crony capitalism. And youred a row skating for more cronyism. I never said break them up. I didnt say break them up. I think we need efficient regulation where we have referees and set the rules of the game. Its called the marketplace. Reporter kevin, do you have social media and facebook and twitter and other accounts like that. I do have social media. I use twitter. But let me give you a perfect example. With amazon. In one of their cases here in the state much california, they are saying we shouldnt be overregulated because all of the customers that go on to amazon are our customers. They are not resellers customers. Then in another court case they said they are not our customers, we dont want to be liable if something goes wrong with the product. We need to update the law. We are a 21st century economy. We cant let the rules of the 40s and 50s apply to this current marketplace. Reporter google is denying it has ties with china. Its very peculiar back ground where google is working with the Chinese Communist government and not with the u. S. Military. So the project decision was not to work with ai with the American Military but they are working with the communist chinese. The question is what in the world is going on there. Reporter google reresponsibilitied, as weve said before, we do not work with the chinese military. What about the president and the fact he says his administration is going to look into this. Should he . He should. I dont know if the allegations are false or not. But American Companies cannot be conspiring with the enemy. The problem with regulating the tech industries, the government is going to drive to apry 1990s, 1980s regulations and it isnt going to work. The important thing to note here, in 2049, the Chinese Government wants to be the number one military super power in the world. So we actually know it through their plan, the 2025 plan, the 2035 plan and the 2045 plan. I think its important to note that by google working with Chinese State sponsored companies, they may not be the military, but they are for the benefit of the military. I do not think pete peter thie s rock here. They are a member of the open power foundation. They work with ibm who works with Chinese Companies that does massive surveillance. I think its a big issue and the United States government needs to look into. We need to add that peter thiel was giving a speech at a conservative convention and hes on the board of a competitor of google and hes a huge supporter of president trump. So im not surprised this is on president trumps radar. Reporter we have to talk about the white house projecting the highest deficit ever. Well debate it. Stay tuned. Something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. Fisher investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other money managers. Fisher investments. Clearly better money management. 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. 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You have bipartisan support for increase in spending on both size when it comes to defense and domestic issues. This is where it can get murky, the tax cuts could add 1. 5 trial to our National Debt the next decade or so. But overall, the economy is still growing. The democrats were always big spenders. And republicans were fiscal conservatives. Kristina nothing is the same anymore. Hes telling associates privately the debt is not his problem. As someone who helped advise trump on this. We always put growth first. Jobs and growth were always our highest priorities as they should be. Its true we have a bipartisan spending problem. But when you have growth like this, the Congressional Budget Office is predicting the economy has 6 trillion larger the next 10 years than they thought it would be and thats in large part because of the tax cuts. Steven and i have been debating or that for five years now. Its clear the revenue from our country are not coming in fast enough because of the tax cuts. And the deficits are ballooning. The great gdp growth, steve thought it would be 5 , 6 . The deficits are higher. And the truth is, this tax cut was too big versus the revenue. Thats why we are in a problem situation. I want to also agree with jonathon. I cant believe this democrat is more fiscally conservative than the entire republican party. Kristina to steves point, isnt it premature for to us say anything because we havent had that much growth . I was giving them a bonus. We are talking about this during good times which is very nice for all of us. But the problem is what happens when we get into a recession, right . I think thats the biggest situation we need to be focused on. We see our deficits where they are now, they will only balloon even more. And the answer is what will cause the deficit is to repeal the tax cut. It got us from 1. 5 to 3 growth today. I tell you what we are going to get. We are going to get a 2 trillion infrastructure from a supposedly conservative president endorsed by fiscal conservatives like steve moore and larry kudlow. People who used to hold government spend together fire want to pass it along when government wants to spend trillions of dollars. Steve we finance with private money, not tax dollars. We are going to have to save the rest of this for later. It was actually dubbed lie of the year a decade ago. So why is former Vice President joe biden resurrecting it for his campaign . Well talk about that next. vo the hamsters, run hopelessly in their cage. Content on their endless quest, to nowhere. But perhaps this year, a more exhilarating endeavor awaits. Defy the laws of human nature,at the summer of audi sales event. Get exceptional offers now. When crabe stronger. Strong, with new nicorette coated ice mint. Layered with flavor. Its the first and only coated nicotine lozenge. For an amazing taste. That outlasts your craving. New nicorette ice mint. I wanted to consolidate my credit cards in to a personal loan to pay them off faster. Lending tree made lenders compete for my business and i ended up with a loan that saved me over 9000 and no more credit card debt. I mean 9000 hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. 2020 frontrunner unveiling his Healthcare Plan with a message that sounds familiar. If you like your employerbased plan you can keep it. If you like your plan and your doctor you can keep them. If you have private insurance you can keep it. If you like your doctor, you will be able to keep your doctor, period. If you like your Healthcare Plan you will be able to keep your Healthcare Plan, period. That was the lie of the year. Is it a big mistake to connect his plan with this infamous line . I think its a giant mistake. I can tell you from firsthand experience when i heard president obama say that i got a plan i liked. The first thing that happened was the aca was passed, my plan was canceled. I got plan i wanted and it was canceled on me. Its not a great idea to say that because now i think what joe biden is saying is the exact opposite. Well get medicare and medicaid for all and private insurance is done. Is this the Vice President differentiating his plan from the rest . We are being disingenuous. They are not saying anything the same at all. President obama was responding to the Affordable Care act. Vice president bind said you will not lose your private understand if you want to keep your employerled mandate one was about a mandate. This is about why hes not for medicare for all, and why hes making sure when different people like Elizabeth Warren and Bernie Sanders raise their hand that they are taking away your private understand. The problem with that is thats what obama said, that you wouldnt lose your Health Insurance in were millions of americans who did lose. Why should we believe him now . We are talking about two different things. We are talking about medicare for tall can and the mandate. I know you want to confuse things just like you did on the deficit. But i will pause there. Kamala harris is unveiling a plan to combat high drug prices. Shes going to have the governmento federal government set a pricing for that drug. Sounds a little convoluted to me. Is this a smart way to combat drug prices which have continued to go up even after obamacare was passed . I just read about this today. President trump said he was going to lower pharmaceutical prices. He said he was going to hammer the pharmaceutical industry. He has completely backed off on that and all thats happened is pharmaceutical drug prices are higher. I think this is going to make sure we are competing versus prices globally. Global competition should be a good thing. There are some good things to it that we should think about. Its clear pharmaceutical prices are too high. Why should you be able to go into canada for 1 5 the price we pay in the u. S. The people . America who develop the drugs pay more for them than in china and germany and japan. If you limit the profits of these companies you will delay the introduction of new vaccines and drugs. The answer is not price control. One thing that more people were thinking about was the idea that medicare would be able to negotiate prices. You have medicare thats a governmentrun program, so why shouldnt then able to make sure they can negotiate its amazing everyone has a monopoly on pricing except the buyer cant look elsewhere. To your point, the fact that there are huge roadblocks. Why dont we have more generics on the market. Steve you just brought up the fact if we lower the prices there will be a lack of incentives for the pharmaceutical countries. Why does it take two or three years for the approval process. We are paying 50 of the drug prices around the globe. Clearly there is an issue. Lets move on. Facebook is in the hot seat. The companys cofounder of the crypto Currency Initiative is facingal bipartisan back trash. Would you trust facebook with this new libra currency . Award winning interface. Award winning design. Award winning engine. The volvo xc90. The most awarded luxury suv of the century. What might seem like a small cough can be a big bad problem for your grandchildren. Babies too young to be vaccinated against whooping cough are the most at risk for severe illness. Help prevent this talk to your doctor or pharmacist today about getting vaccinated against whooping cough. Kristina facebook getting hit from beth sides of the aisle over its crypto currency plan. Reporter Facebook Says libra will be separate from their social media company. Trust is something you earn. And facebook certainly hasnt earned it. So its not enough to say you will keep the data separate. I would like to know how exactly will you keep libra data separate from your social media data. Santa ana, thank yo