Income groups. Im not looking to do that. But if i wanted to do it, i believe i could. Im not looking at a tax cut now. We dont need it. We have a Strong Economy. Certainly a payroll tax cut. David sound bite of President Trump telling reporters just yesterday that he was considering indexing Capital Gains taxes but today, touting a Strong Economy, the president says indexing could be seen as somewhat elitist, the word he used, also saying no need now for a payroll tax cut, but is it a mistake to take these tax cuts off the table . David, its always a mistake to take good tax cuts off the table. John kennedy didnt take it off. He had a Strong Economy in the early 60s, but put in a massive tax cut across the board individually. Go back to the 20s, coolidge did the same thing. President s have done it in the past. Inde keep this economy going, great for the market. David not elitist . It benefits everyone and also helps reduce the deficit because Capital Gains revenues always go up when theyre cut and on the payroll tax, that hits everyone from dollar one, doing what barack obama did, one of the few things he did right in 20112012, helping everyone with that. So i dont know what made him take it off the table. Whatever it was, tomorrow he could put it back on, i hope he does, because the economy needs it. David you do it now before it goes into a recession. Well, it is thursday tomorrow and trump has been known to change his mind a little bit, so you never know. Look, if i was the president right now, i would be doing the big contrast with the rest of the democrats that are running for president. They are raising every tax under the sun, that when you try to get wealthy they want to confiscate that wealth and when you get old and decrepit and pass away they want to take even more wealth and in between they want to do a v. A. T. Tax, carbon tax, every type of tax. What a great position to be in to say this is what i want to do, you keep more of your money while they keep going into your wallet and taking every dime you have. Big mistake on his part. You are flipping it to the democrats yet we have a president that seems to be flipflopping quite a bit on this situation, literally 24 hours later, completely changing course. Steve, to your point about the gants tax and it helping, if you look at the effective tax rate its already relatively low. Inflation is also relatively low. Would that add that much of a boost to the economy . Then when you think about the payroll tax, surprised you didnt bring that up already given how large the deficit is and how it will be blowing up even more, is this something we really need at the moment . We need a more prosperous country. In terms of the Capital Gains tax, with obama it was almost 24 . Now that you cant deduct state taxes its over 30 in a lot of states. Reduce this destructive tax on capital. Thats a great point. A lot of americans are in need of additional tax cuts. Tell you what, the economy is, too. If you think about trumps lets say pilgrimage for 2020 here, he needs an economy thats going to refire. The way you are going to refire this economy is by giving it some more help. If this economy continues to slow down as we are starting to see it is, as we are seeing the effects of the tariff war kick in here, trumps in trouble if he doesnt get some new taxes into the system here to help boost the economy, to get reelected in about a year from now. You really think its going to do that much, though, just cutting the payroll tax . I saw some prediction in usa today that said it would only add. 3 to gdp growth. You really think its going to do that much . I tell you what,. 3 to gdp growth, thats bottoming out at 1. 5 , maybe 1 by some analyst estimates is probably kind of a big deal as the teeshirt would say. Any little bit would help. Its also a foray as gary alluded to into saying hey, mr. And mrs. America, im actually going to give you more back of your money versus take your money as the folks you are going to vote in instead of me in 2020 will do. 03 adds tens of billions of dollars to the economy and also affects people who dont pay income tax but do pay payroll tax on dollar one. It gives them more spending money. Good for the economy and good politically. Hello. David hold on. When Capital Gains was cut back during bill clintons administration, everybody forgets he was a tax cutter as well, we did see that boost in revenue as a result. We saw a lot more economic activity. But would indexing Capital Gains do the same . It would. Not as powerful as a straight cut but its there because a lot of people are Holding Assets because they dont want to pay that 25 , 30 tax. When you index it, that effectively lowers what you pay on phony gains that came from inflation, not a real increase in value. So you will get more activity, you will get more new investment, getting money from old investments into new investments. Thats how you get a bigger and better economy. May i remind everybody this year, federal, state and local, we are going to send these wonderful people in government 5. 5 trillion, 6 trillion, and they keep telling us record numbers. There are still homeless on the street. Talk about inefficiency and ineffectiveness. The most efficient place for the earned dollars is in the people that earn the dollars, not that people that confiscate the dollars and disrespect our dollars. I wish the president would change his mind and maybe he will, because hes pretty darned good at that, but just remember, its going to be tough to pass anything heading into the election because democrats are not going to go for much at this point in time. He can do Capital Gains by executive order. David more to pump up the fact the economy is doing well primarily because of the tax cuts. That way he can turn tax cuts into a campaign issue. Hes got to do more to make that connection, because hes inclined to say the economys doing better, we hope it continues to do so, but if he says why, emphasizes why, hes got to do it all the time even though hes heard it 10,000 times a day, the Mainstream Media wont cover it. Hes got to do it himself. Then the china trade thing flared up in a big way. We thought we almost had a deal with china, what, six times, even to backed off. Okay, if we are counting at home, maybe 12 great Corporate Tax cut did as we started to see from some of the corporate earnings reports weve received in the last several weeks. Now the china tariff war is really starting to creep in to some scary forecasts, scary outlooks for a lost companies that just a couple quarters ago werent too worried about it. David you say ruined. I wouldnt go that far with the economy. In fact, the American Consumer appears alive and well. What two major retail giants reported today thats fueling the rally on wall street and the doomsayers we ask is this really what a recession looks like . Managingaudreys on it. S . Eating right and staying active . On it audrey thinks shes doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk . Maybe not. Jardiance can reduce the risk of cardiovascular death for adults who also have known heart disease. So it could help save your life from a heart attack or stroke. And it lowers a1c. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection. In the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection,. Ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it with jardiance. Ask your doctor about jardiance. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. That a handle is just a handle. Chair is just a chair. Or. That you cant be both inside and outside. Most people havent driven a lincoln. Its the final days of the lincoln summer invitation event. Right now get 0 apr on all lincoln vehicles plus no payments for up to 90 days. Only at your lincoln dealer. 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. Talk to your doctor or pharmacist today a cockroach can survive submergede guy. Underwater for 30 minutes. Wow. Yeah, wow. Not getting in today. Not on my watch. Pests never stop trying to get in. We never stop working to keep them out. Terminix. Defenders of home. David take a look at this. These are shares of target and lowes, surging double digits today with target alone closing up more than 20 . This is targets largest percent gain ever, a new alltime high for the stock, its fueling a larger rally on wall street as the two retail giants reported better than expected profits for the second quarter. Target raising its outlook for the year, so is this more proof that all these fears of an imminent recession are overblown . Well, david, retail is kind of more fragmented i guess than its ever been. You mentioned the great numbers from target and lowes. We had some good ones from home depot but look across the street. Youve got trouble at macys, nordstrom, jc penneys which is actually trading for pennies as far as the stock price, believe it or not. Probably not what they intended when they listed the Company Publicly back many decades ago. Heres the issue. The way that a lot of these companies, the big guys, like target, walmart, which we saw last week which were very good, amazon, of course, costco, they have really improved their process with discounting, cost cutting, delivery certainly and involvement in the community. They have started to pull away lets say from the others. While the consumer is strong because of great job growth, and some wage growth, its still a bifurcated market when it comes to picking winners and losers in retail. Exactly. Which is why you just mentioned those department stores. Those are a little separate than target which i think is doing really well trendwise. Retail. Pardon me . But retail still. It fits into the retail bucket, kristina. The big box retailers kind of try to take themselves out of that but they did not adjust like the target and walmart did or at least as quickly. Now they are too far behind, in my opinion. If i were to focus on two optimistic points of view for the near term in markets, the first one is lately, theres been some big movements from hedge funds that are betting that the vix volatility index will be falling. So what that means is less volatility so they think stocks are going to be climbing higher in the near future. We saw a lot of movement with that. The second point was an interesting stat from Credit Suisse that after you have an inverted yield according to their statistics the s p 500 logs positive returns 88 of the time. Which i think is also a positive stat and maybe we shouldnt be focusing so much on this yield inversion that we saw yield curve inversion we saw and really caused the dow to drop 800 points. The glass is clearly more than half full, david, but what you have to worry about is Business Investment has been lagging. Ultimately that affects the economy. So the sooner they get this trade dispute out of the way, no trade war with europe, no trade war with japan, get usmca, the new nafta, approved by congress and get some deal done with china, by golly, you will see this economy really roar. The key thing is investment. In that sense, retail is a lagging indicator. Its we are getting the fruits of past investment. We got to plant seeds for the future. Between walmart and target, they do about 575 billion in sales. The fact they were able to grow their sales in midsingle digits tells us a lot about whats going on with the consumer. They are still in shape but leave no doubt, there are some termites out there. What i mean by that is credit card usage is at an alltime high. Thats problematic down the road. Yes, there are areas like manufacturing and a few other things that are going on, homes at the high level are coming down pretty decently. Were not perfect but were certainly not what the media has done over the last two weeks. I thought we were at 1930 compared to what some of this we were talking about. It looked like we had that 800 point drop last week, i thought they were going to take out the champagne and pop the cork, they were so happy we were dropping. Its just a damn shame they inject politics into the economy which would affect a lot of people if we do head south. The 800 point fall, they couldnt afford the champagne anymore. David the stats keep proving them wrong. Yes, there are problems here and there and you can point to a slowdown in the economy, but even though the cbo, the congressional budget office, is a very conservative institution, usually they underestimate growth. But even they with their new report thats out today, of course, it talked about the deficits, theyre terrible, but it had a 1. 8 growth in the future at a time when a lot of people in the media are saying theres going to be recession. Its a slowdown from 3 , but its a long way from any kind of recession. What about the escalation, though, the fact we sometimes, a lot of people go on air and talk about the United States in isolation. When you have these numbers coming from abroad like germany, the prediction that it could fall into a recession, the theyre already there. The lack of stimulus for germany, then this newest report i have seen that asia, asia pacific could be facing a debt crisis. Thats a major blow as well. Well, thats why the u. S. Has got to be strong. Thats why we have to have these new tax cuts, david, get these trade disputes out of the way which will be good for economies in asia and in europe. So our prosperity will be their prosperity. Youre right, we cant do it alone. David the president just said again today, he said look, i know we could be growing much stronger than we have been, but this is the one time that we have a chance to really squeeze the chinese to get them to honor agreements that they have signed that they havent been honoring. Yes. They are hurting but there are better ways going after specific Companies Like huawei than putting taxes on us, yes, they get hurt but we get hurt, too. I got news for you. If you hurt the number two economy in the world, you are going to hurt the number one economy in the world. So i dont know what the president thinks hes kidding there, if china goes down, we are not immune. You are already very fragile in europe. Not immune. I will go back the my tried and true, the debt and deficits around the globe and the leverage are just gargantuan and massive. If that ever comes home to roost, i want to be on a little dinghy in the middle of the pacific not having to worry about it. Not a dinghy in the pacific, no. Dont go in the pacific area. David 20 democrats courting big labor today but is their Union Support no longer a given as long as the trump economy keeps going strong . Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Since my dvt blood clot i was thinking. Could there be another around the corner . Or could it turn out differently . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 percent of patients on eliquis didnt experience another. And eliquis has significantly less major bleeding than the standard treatment. Eliquis is fda approved and has both. Dont stop eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for 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. Whats around the corner could be surprising. Ask your doctor about eliquis. But allstate helps you. With drivewise. Feedback that helps you drive safer. And that can lower your cost now that you know the truth. Are you in good hands . David 2020 democrats hoping to win over Union Support today, making their pitch to big labor in iowa. Peter doocy is live with the very latest. Reporter if joe biden is going to get elected president , he knows that he needs support from Union Leadership. He launched his campaign at a union hall in pittsburgh and today, in altoona, he praised Union Leaders in iowa. The only reason we have a middle class is unions. Not labor. Unions. Organized labor. Unions. Reporter more progressive candidates came to make their pitches to Union Leaders as well, like Elizabeth Warren, who described a world where the government provides a lot more benefits than it does now, paid for by the rich. Its time for a wealth tax in america. Yeah. Thats a two cent tax, two cents on the top onetenth of 1 of great fortunes in this country. Reporter warrens plans are among the most progressive in the field. She supports medicare for all. So does cory booker, who came here to essentially undercut the electability argument biden 2020 has been making without ever actually saying his name. The next leader of our party cant be someone that is a safe bet, lets just find the person that can triangulate and get this done so we can beat donald trump. Im running in this election because i know we can do more than that. Reporter booker later told us in the hallway that nobody who was far away the frontrunner this far out from an election has ever become president. David . David interesting. Great to see you, peter. Thank you very much. So as 2020 democrats try to woo big labor, could the strong jobs market and wage growth under President Trump weaken the democrats pitch . Well, michigan, pennsylvania, wisconsin will tell the tale. If they are taking them for granted, they are in big trouble. You know, theres 15 Million Union workers right now and they are trying to send a message we will take away your health insurance, tough, we will raise your taxes but dont worry, well give you more back in return, and if you ever try to become rich, we are just going to raise your taxes bigtime, then take your wealth away. Im not so sure thats going to work. If im the president , i am attacking all of that because i am pretty sure these Union Workers like their health care, regardless of what you hear from some. Yeah, you saw President Trump do very well in 2016 among the Blue Collar Workers and Union Workers, industrial Union Workers, not government union. Precisely because of people wanting to do better. So yes, joe biden will get leadership support, but if the economy is strong, get these trade things out of the way, by golly, the rank and files going to go even more red than they did blue in the last election. Its incredible how much the Union Population has decreased just since 1983. Now we are at 10. 5 of u. S. Workers. Back then it was over 20 . To garys point. But overall, i feel like this shows finally the democrats and you can see this is a positive or negative, are focusing on Blue Collar Workers in general instead of having to always defend the left, ultra left wing policies that have been on the market. I think thats been their biggest weakness, that theyre not focusing enough on the middleman, the worker in these blue collar jobs. Well, but the economy is, though, now, right . Lets go back even further in history, guys, to the 50s and 60s where we had, what, onethird of American Workers in unions . I think the reason was is because this was about worker empowerment. Workers needed unions to get things done at the workplace. Now i would argue that trump and some other governmental policies have created an economy that has created very diverse opportunities for that worker. Empower in the workplace for people. Look at all the jobs that are open in america now, millions and millions of them going unfilled. And wage growth. I know this being in business myself, we have to compete for workers now. They have the upper hand sometimes on us when they come for the job that we post. Nowadays, you dont need that Union Backing anymore or the union fees which dont end up working for you because you can do it yourself. David you remind me of something else, which is that President Trump comes from the private sector in the construction business. You have to deal a lot with unions, particularly in new york city. He knows unions from the inside. He knows how to court them in ways that other gop leaders probably didnt. So that might be an advantage for him. But scott, you just spoke about all the negatives. We have to focus on some of the positives, the fact that it did why . Help increase wages, it helped with benefits. I know it was more costly but it helped create these formal dispute processes. It helped create or sometimes set a norm in the economy as a whole, thinking of safer environments to work in, no longer working at companies on weekends back in the day so it changed a lot. It did help a lot of workers. What really changed things was prosperity and yes, the unions had a role in the 30s and 40s but the reason they have declined is theyre not delivering services today. In fact, they are advocating policies like higher taxes, more regulation, that destroy jobs, hurt those with the least, and higher taxes, people dont like that anymore. I know its illegal but isnt it because corporations arent given the opportunity to have as many unions because there are so many contract workers . No. Its because i think people are figuring why should i bother paying 700 a month when im not getting much for it. And they have destroyed a lot of the industries. You look at the oil industry, hurt it in detroit and the rest of the country where you did not have union work rules, by golly, companies prospered. Im not so sure the message we are going to give you, give you, give you, give you but we are going to take, take, take from some other side and thats basically what Elizabeth Warren was quoted in there about, i dont think thats going to resonate. Last i looked, Union Workers like working. They dont like getting things for free. Yeah, they want jobs, gary. David jobs and higher wages. Both of those have been going up since trump was elected. All right. Immigration crackdown. The dhs announcing a new policy the president says would make ilLegal Immigration quote, almost impossible. But will it work . We will be asking former dhs counsel mike howell, 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. I come facetoface with a lot of behinds. So i know theres a big need for new gasx maximum strength. It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. But some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have 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. President obama and others brought the families apart but im the one that kept the Families Together. With what were doing now, well do even more of that, but it will make it almost impossible for people to come into our country illegally. David President Trump touting a new policy to crack down on ilLegal Immigration. The move is going to allow dhs to detain migrant Families Together until their immigration cases are resolved rather than releasing them after 20 days. Here now, former dhs oversight counsel, mike howell. Mike, the aclu sounding off with a tweet. Let me read it for you, get your reaction. The government should not be jailing kids and certainly shouldnt be seeking to put more kids in jail for longer. This is yet another cruel attack on children who this administration has targeted again and again with its antiimmigrant policies. Congress must not fund this. How do you respond . Well, i think thats a tweet very much in favor of the human Smuggler Networks that exist south of the border that have profited off of this just green light that the Settlement Agreement has allowed for smugglers to just bring children across the border because that means the adult with them is getting in, no questions asked. So the step the administration took today is, you know, telling the folks that are part of that Smuggler Network that that business is over. It will not happen anymore because families will be detained together throughout their proceedings before they are released into the interior. I feel by saying smugglers you are discounting all the families that have been cramped up in detention facilities. My question for you is this is a statement essentially that you keep these families indefinitely so how are we even going to pay for them, how are we going to ensure that the Mental Health of a lot of these children are kept up to par . I dont know how we are going to do this financially. Right. Well, the rule lays out a pretty specific definition of what the standard for these facilities should be. Its a very high bar. These are wonderful facilities, they meet the standard in terms of the services offered, services well beyond wonderful . Look at whats on our screen right now. Yes. That what youre showing right there is not one of the facilities that will be licensed under the Family Residential facilities but there is xbox, 24 7 snacks, inside outside play area, wide screen tvs. What we are trying to do is get enough of these facilities to house the folks that are coming across the border which as you know has reached record numbers last year in terms of the family units that are coming here. We need places to house these people. What the administration is doing is laying out a standard of care which is an excellent standard. David scott . Mike, have you guys seen any kind of improvement with respect to the crisis at the border, in the flood of people like you mentioned the smugglers that were bringing in children say in the last couple months, with respect to how maybe some of the imaging and things were getting out to people that were coming towards the border that hey, maybe all of a sudden did have better thoughts and turn around at all . Did things improve over the last couple months . Yeah. Theres been improvement for a couple reasons. One is simply based off the cyclical factor of the weather. Every time it gets hot, the numbers slow down but they have slowed down much more this goround. Thats because of a couple things. As you know, commissioner mark morgan has said, the effort of the mexicans in terms of their troops that have been both deployed to their southern and Northern Borders have really helped stem the flow. Additionally, some of the dna testing they have been doing has really, you know, deterred a lot of people who would bring fake families across the borders. The amount of fake families they are apprehending is truly shocking. These are adults who pose as the parent of a child but its no relation, just part of the smuggling operation. This is gary kaltbaum. So this is definitely going to go to court, and im sure the questions going to be asked since youre not going to do 20 days, what is the maximum amount of days, is this openended . Could this go for a year or two years where people are actually detained . Right. Well, i havent seen a definite timeline in the final rule, but what they are aiming for is when the Obama Administration did this before the Settlement Agreement was modified, they could process cases in less than 50 days. Thats the timeline were shooting for. Of course, there are a lot of factors that depends on. How many people are coming in, there are a lot of fixes that can be done to fix this kind of process by which we adjudicate these claims, and separate the meritous claims from those that are fraudulent claims. Theres a lot congress can do. Theres a lot doj can do. At the Heritage Foundation and our agenda for American Immigration reform, we called out a lot of specific fixes. Its about moving it through the process more quickly. What do you think is going to happen in terms of a challenge . The administration proposing this kind of change, trying to get it through congress which shouldnt happen, now they are trying to do it by executive order, by regulation. How is it going to withstand an assault in the courts, do you think . Right. Well, i will say that initially when the Settlement Agreement came out it was contemplated that the administration could through regulation solve this problem. So i think they are on pretty solid legal footing there in addition to the very robust regulatory process they took. That being said, being on solid Legal Foundation is no longer a requirement for a lot of these courts, especially in the ninth circuit. So well see what they decide. Im sure that there will be a judge out there that ties policy claim into a legal claim, will decide they dont like the font of the lawsuit or something and hold it up for whatever reason because theres a lot of policy makers wearing robes right now. David i understand you are trying to reduce the incentives for coming here illegally. That makes sense. What about the switch to a meritbased system in which we try to increase incentives for people with skills that we need in this country to come here . When are we going to see the outline of a clear meritbased immigration system . Right. Well, i think the administration took a step in that direction with the rollout of the public charge rule last week. I think that will be a huge shift in terms of the Legal Immigration side. That being said, theres a lot of fixes that will require legislation and unfortunately, congress has not, you know, been up to the task of actually legislating to meet americas needs. Thats an immigration system thats designed to actually benefit americans. David well, it works in australia, works in canada, theres no reason why it couldnt work here. Mike howell, good to see you. Thank you for being here. Appreciate it. Well, the risky mortgage is making a comeback. Is there concern enough for us all to be very worried . A look at the impact that this could have on our economy, coming next. Their medicare options. Ere people go to learn about 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. Its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. Only about 80 of your medical costs. This part is up to you. Yeah, everyones a little surprised to learn that one. A Medicare Supplement plan helps pay for some of what medicare doesnt. That could help cut down on those outofyourpocket medical costs. Call Unitedhealthcare Insurance Company today. To request this free, and very helpful, decision guide. And learn about the only Medicare Supplement plans endorsed by aarp. Selected for meeting their high standards of quality and service. This type of plan lets you say yes to any doctor or hospital that accepts medicare patients. There are no networks or referrals to worry about. Do you accept medicare patients . I sure do see . Youre able to stick with him. Like to travel . This kind of plan goes with you anywhere you travel in the country. So go ahead, spend winter somewhere warm. If youre turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. Thumbs up to that remember, the time to prepare is before you go on medicare dont wait. Get started today. Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs oh, and happy birthday. Or retirement. In advance. David is this 2007 all over again . The Mortgage Market is reopening itself to risky borrowers according to the wall street journal. Home buyers with low Credit Scores or high debt levels are finding it easier and easier to get credit. One study showing borrowers took out 45 billion in what they are calling quote, unconventional loans in 2018, the most in a decade. You remember what happened a decade ago. Its on track to rise again this year. Now, we all remember the role of subprime loans in the last financial meltdown. Are we headed in that direction again . Thankfully not on that same scale, but in terms of principle, absolutely. As soon as you get a rise in Interest Rates or recession, you will see a rise in defaults. This shows how desperate parts of the housing industry are that they are lowering standards like that. Take it in today but by golly they will get hit tomorrow, especially when rates go up or the economy has any kind of slowdown. Let me tell you a little story. Back in 2006 a friend of mine got a 250,000 mortgage on a place he only paid 200,000. The reason why the lenders did it is affordability. Housing prices went up too high. They are doing it again, repeating the same mistakes. Back then, the mortgagebacked securities were leveraged 10, 20 times. It was just a matter of time. If the same thing happens again, look out below. I cannot believe i am reading this is happening after just a decade ago. Its scary. That was a good rhyme, by the way. Tell you what, its scary, gary, but the issue is were not going to see that crazy leverage. Theres not going to be this you sure . I know, listen, the banks are probably not going to go down that same road with some of this crazy leverage because they have been hurt by this before. Im telling you. And the fact, too, you guys got to realize this perfect lender or perfect borrower thats out there with this great credit score, with all this money in the bank, just doesnt exist in todays economy. The banks do, yes, have to be creative and a little more lenient with some of their lending rules when they need to get these loans out as these homes get bought. I do have some concern. Unlike 2008 where now housing prices are starting to come off already, banks are continuing to lend at this rate, they got to watch out. Of course you got to watch out, especially with unconventional loans coming to 45 billion in 2018 alone. You said the big banks arent getting involved. In the wall street journal, i will give credit to the reporter, you had citibank thats slowly starting to give out unconventional loans, jpmorgan, a lot of these bigger banks are getting involved. I think thats concerning, especially when you have these unqualified people that are artificially inflating demand, increasing the price for everybody when that shouldnt be the case. David to scotts point, you dont see the bundling. Remember what happened in 2005 they are not doing that over and over again. David hold on, gary. Hundreds of these subprime mortgages were put together in these packages and thats what was then leveraged. I havent seen that kind of bundling yet. Maybe other people have. Let me give you a fox business alert. Its going on. David i havent seen it. How do you know . It is. Because im in wall street. Hes writing them. Im on wall street. Let me say this. It feeds on itself because theres one thing about wall street, when they see money being made, they jump all over it left and right. This is a worry. Im hoping somebody stamps their foot down on it before the fire really gets crazy. David have you seen the bundling . I havent seen these mixtures of hundreds and hundreds of subprime loans the way i did in 2006. Not on the same volume. In the old days, you go to a hotel, look under the bed, you find them, mortgages floating around. They were everywhere. The regulators i think at some point will have to do something, having dropped the ball so badly 10 or 12 years ago. What i dont understand is why dont they demand a little higher down payment so you have skin in the game . 5 , 10 . You put 10 down, you will be very reluctant to walk away from that mortgage. Thats the biggest risk. David i dont think i ever put less than 15 down. Maybe im dumb for having done that. But managed pretty well as a result. Is hemp the new coal . How about that one . Why some farmers say hemp could be a saving grace for the heartland economy. A live report on that coming up next. Dont miss your golden opportunity to experience our most advanced Safety Technology on our full line vehicles. Now at the lexus golden opportunity sales event. Lease the 2019 es 350 for 379 a month for 36 months and well make your first month payment. Experience amazing. 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. Talk to your doctor or pharmacist today to the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you preorder a new samsung note. Click, call or visit a store today. David the growing business of cbd. Now, the jurys still out on the full effectiveness of the drug thats derived from marijuana but its production is giving some needed relief to farmers in rural america. Fox businesss Grady Trimble is at a hemp farm in illinois. What are the farmers saying there . Reporter well, david, a lot of people rely on corn out here, as their primary crop, but thats been tied up with tariffs and its been a bad season this year because of all the rain they had. They had to plant late so they are turning to this, a new type of crop. This is industrial hemp. You can extract cbd from it and thats put into oils and people use it for all sorts of ailments like stress relief, pain relief, seizures, headaches, you name it. This is the guy behind the operation out here in central illinois. His name is trent lawrence. You have been putting a lot of money into this but the fda still hasnt come through and allowed cbd and other hemprelated products in food yet, and thats going to be a big market for you. Oh, absolutely. What were looking at are really three limiting factors on the industry right now and they all are sourced out of washington, with the federal government. We have the banking issue, where hemp farmers cant get financing. We have the usda rules which are out in limbo somewhere now. We dont know how were going to operate. And we have the fda who has not yet let us given us any guidance as far as what is going to be allowed. The fda is probably the biggest of the three. They set the market size for how big this market can grow. Reporter theres a lot of cbd companies already, you know, infusing this into different types of products. How do you know this isnt just a fad here today, gone tomorrow, because you have invested a lot in this. The simplest answer to that is to look at the history of cannabis in the function of society. Weve got a thousand years of documented usage of this for various ailments and various conditions so i dont think its going away any time soon. I think its been proven its here to stay. Reporter thank you, trent. Obviously a lot of green out here and they are hoping they can make some green off this product. David . David great stuff, grady. Thank you very much. So should we all be happy about this new business . It is creating new jobs and its right there in your own state, scott. It is, david. I know exactly where grady is. Grady, just hang out. I will be there very soon to pick some up because heres the thing. The farmers need help right now. We got this big issue with china going on. Weve got issues with the weather, as was mentioned, it was a bad growing season. A lot of these farmers have really, think about leveraging the system, they have levered up their farmland to the gills. So you need something new to kind of come along and refresh things but im worried about, as grady pointed out, this blockage in washington that is hurting what some of the states, i will give illinois credit, what the states have allowed to happen so far. So if the states and d. C. Can get together and help these farmers, that may be the solution to fighting off some of this china worry. Also, they should be encouraged that they have the right soil to grow tobacco. Oh, not supposed to do that anymore. Weve got to find out what the Health Effects actually are instead of a fad, then its going to have appropriate regulations. The real cure for what these farmers are going through, you hit on it earlier, is get this trade war stuff out of the way and let people sell wheat, corn, soy that the world wants. Come on. And cbd. No . Hemp extract is cbd and we know its very very trendy, due to the fact its already in dog biscuits for dogs, you can get it in lattes. Can you give it to your motherinlaw . I could. Its very easy to take. You can have tinctures to make you feel calm. Right now, it is very how do you spell snake oil . I dont know. Maybe we should ask marco rubio. David gary, weigh in. Look, its a big industry right now. Whether it has longevity, i am not too sure. But you have to make hay when, you know, its going on right now. Make hemp at this point in time. I have to allude to what steve just said. China is no longer even getting our stuff from farmers. If we fix that up, that can help because they buy a lot of stuff. I mean, we get rid of the trade war, that will help the farmers. Theres a reason why the president gave them 28 billion, because they have been hit hard because of the tariffs. Fix that up first. David steve, are you at all worried, i mean, manhattan, l. A. , chicago, you walk down the streets, you cant help but to get the smell of skunkweed as everybody is smoking marijuana as the laws go down. Does this kind of i understand the cbd is not for getting high, per se, its for helping you as a kind of supplement but are you concerned at all about that, steve, the connection between the two, the use of marijuana . I think the key thing is marijuana, we are finding out more and more the damage it can do so if you are going to legalize it you have the same kind of restrictions you have on booze and prescriptions and the like. I cant get over, david, those who hate cigarettes love marijuana. I dont get the connection. David i dont like skunkweed. I dont like the smell. That simple. If you thought robocalls were bad, just wait until you hear what scammers are up to now. Youre not going to believe it. Thats next. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . And i recently had hi, ia heart attack. It changed my life. But im a survivor. More than 100 milligrams as it affects how well brilinta works. Brilinta helps keep platelets from sticking together and forming a clot. In a clinical study, brilinta worked better than plavix. Brilinta reduced the chance of having another heart attack. Or dying from one. Dont stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. Brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. Dont take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. Slow heart rhythm has been reported. Tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. If you recently had a heart attack, ask your doctor if brilinta is right for you. My heart is worth brilinta. If you cant afford your medication, astrazeneca may be able to help. past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. David scammers are branching out to texting. They can install mallway, they can be phishing for your data. And should we throw our phones away at this point . What do we use our phones for except for browsing. I dont call anyone, i just text. You dont return my calls. The way you can get rid of this is first you can pay for robokiller apps. You can get rid of it, our block them or you complain. Last year there were 93,000 complaints about robotexts specifically. You should see my list of blocked numbers. Its probably in the 100s. The care years were supposed to work with d. C. On this and they are not. If they get malware in your phone and start taking information on are your bank accounts, thats when its over. I got this from the smithsonian and it still works. How does it feel to be with the times . I dont take the new york times. I think the problem is the people doing the robokiller apps are the ones sending the robostuff. All i can tell you is i received thousands of robocalls. And now this. Are you kidding me . I cant even begin to tell you what we should be able to do to anybody who starts a business and we send this to us. David the carriers and recommending laters are so far behind the people sending these things out. They have got all kinds of tricks. I understand when you see china and lit a wayne yeah and o ae calling. All they want you to do is say hello and they morph your voice into an advertisement. He never say yes because they will be ordering a lot of stuff in your voice. You are charged long disstance if you answer the phone and its a robocall. I turn mine off. I will just turn it off during that period where i receive a lot of calls. Thats all you can do. David have you ever had an iphone . I have an iphone for overseas. David that does it for bulls and bears. Well see you next time. Liz President Trump in louisville, kentucky announcing a new plan to help military veterans big time. Wiping out Student Loan Debt for soldiers permanantly disabled. And as we track the medias recession obsession. Same recession language was used by the media a year ago starting in august of 2018. It was also used in 2017 and 2016 when President Trump won. A growing number of