Transcripts For FBC Lou Dobbs Tonight 20240713 : comparemela

But before the impeachment announcement the jury judiciary to apartment the one of russian collusion with Trump Campaign youll remember in 2016. One of directly finding bias, Michael Horwitz conclusion was a really damning combination of the tactic used by Law Enforcement agents to start and continue digging for information on district mr. Trump and his team. While just a few hours after the democrats went to the podium to make therefore historic announcement. I had the opportunity to speak at length with attorney general william bar with about a speech meant and reports. We began with impeachment. While the attorney general was now willing to discuss it any length cam he did weigh in on one of the chargers to. I dont believe its the case that we, somebody including a branch of government, is asserting a legal privilege that they have under the law that that constitutes obstruction. Gerry the second article said president tromp had the categorical defiance of pinots and given the constitution gives the house all responsibility for impeachment. This is itself a represent and tatian of obstruction. I just said what i said. It was predicated on advancing claims of privilege that have been previously been advanced and other administrations. And i dont consider that obstruction. Gerry is not unprecedented customer. No. Gerry lets look at what was occupying her tension yesterday which was the complication of the report of the justice Michael Horwitz into the origins and the conduct of the investigation of President Trump and his associates around the russia allegations about collusion with russia. Mr. Horwitz in his report said yesterday, we concluded that the fbi had an authorized purpose when it opened crossfire hurricane, that was the name of the given to the investigation, to obtain information about or protect against National Security protects and crime. You said a response that yesterday the fbi and launch an intrusive investigation of the thinness of suspicions which were insufficient to justify the steps taken. Could you tell us what exactly, where you disagree with mr. Horwitz . Well first let me say that i think there are three parts or issues, lets say categories of analysis in the report. The first is was the investigation adequately predicated . The start of it . The second one is how is it conducted . And i break that down into two things. How is it conducted before the election, how is it conducted after the election . The real meat of horwitzs work and the thrust of the report actually deals with the conduct of the investigation. Where i think it quickly became apparent that it was a travesty. And there were many abuses, and that by far is the most important part of the report. And i think mike horwitz would agree with that. Its been nine these particularly pertaining to the pfizer application . And also from the facts of day one they got exculpatory information and nothing that substantiated in a type of collusion. But put that aside for a minute and go back to the issue. Many ways the issue of whether they were technically adequately predicated the something of academic interest. Where i disagree, and by the way mike knows i disagree with him, there are still people in this town where you can have, we can be adults and professionals and have a disagreement without tearing into those hearts out. Its just one of those things, we have disagreements the department of justice. I think the basic, its a big deal to use the Law Enforcement and the intelligence resources of the United States government to investigate campaign, especially opposing. The opposing party. Im sure there are instances in the past, but i cant think of any recent incidents. Gerry really quickly on this, the phis application, again the report is very crystal. Document 17 omissions or errors under the initial three subsequent applications with the fisa court for surveillance of carter page as we know. But the report does say that it resulted in by the reputations that it may appear that the information supporting probable cause was stronger than was actually the case. To you think that, given that, those phis application should never been made . Yes, this is the meat of the issue and if you actually spent time to look at what happened, i think youd be appalled. Your member they say we are not gonna go talk to the campaign, we are can ascend people in wire them up and talk to the individuals. That happened. That happens in august, september, and october. And it all came back exculpatory. People saying oh, you dont know were talking about. Its not only exculpatory in the relationship to were russians, but to the specific pack facts. And that a, they never did a thing about that they just pressed ahead. Megabyte theyd ever inform the court. They were told they did not have probable cause to get a warrant. So they took the steele dossier, which they had done nothing to verify, and they use that to get the warrants and collapse everything. They withheld from the court all the exculpatory information and they withheld from the Court Information about the lack of reliability of steel. The real interesting thing here, the major take away, actually is after the election. Because in january, steel was dealing with one person. And thats what we call the primary sub source. In it was that person you have the network of sub sources. When they finally got around to talking to him, he said i dont know it steals talking about. I didnt tell him this. Its mostly barroom talk, rumor, i made it clear to him this was my own suppositions and theories. And at that. , it was clear that the dossier was a sham. So what happens . What happens at that. . They dont tell the court and they continue to get pfizer warranted based on that dossier and more damning. And more damning is they actually filed with the court the statement saying that weve talked to the sub source and we found him credible and cooperative. And they put that into bolster. [inaudible] what he is being truthful about is that the dossier was garbage. So its hard to look at this stuff, and not think it was a gross abuse. Gerry lummi put another way do you think those separate judges in that court were deadly misled . s. Yes. Gerry looking into the practices of big tech companies. Coming up next. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. And i like to question your im yoevery move. N law. Like this left turn. Its the next one. You always drive this slow . How did you make someone i love . That must be why youre always so late. I do not speed. And thats saving me cash with drivewise. My son, he did say that you were the safe option. And thats the nicest thing you ever said to me. So get allstate. Stop bossing. Where good drivers save 40 for avoiding mayhem, like me. This is my sons favorite color, you should try it. [mayhem] you always drive like an old lady . [tina] youre an old lady. shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill. Available at. Male anchor . An update on the cat who captured our hearts. Female anchor how often should you clean your fridge . Stay tuned to find out. Male anchor . This years most buzzed about premieres. Female anchor makes it redcarpet official with. Male anchor 50 5star products you can buy online right now male anchor tributes pouring in from fans. Female anchor her hot new album is just one of the things we talked about. Male anchor beats the odds at the box office to become a rare nonfranchise hit. [anchor voices ramp up together becoming indiscernible] you can provide the help and hope that survivors need. Gerry more noun when im my meeting with attorney general william barr. Earlier this sure the Justice Department announced a Major Investigation of Big Technology firms. And i asked him when that investigation might happen. We started in earnest in july, and its been moving very quickly. We have a very ambitious schedule and things are keeping up to schedule. We are talking very broadly with people getting a lot of input from people in the industry and experts and so forth. And we are doing our analysis. I would like to have it completed sometime next year. I think its important to move quickly on things, that something i can talk about later. But these things have a cost to the marketplace and businesses. And i think at some. The government has to fish or cut bait. Gerry were the issues here these are not enormous countries they dont dominate the economy in the markets, but its well established that the scale alone that is not sufficient to warrant antitrust enforcement action or even to raise necessary concerns about unfair behavior. So what would be the concerns about what google, facebook, amazon, abelard and others are doing . Let me just say that our review is not just limited to antitrust. Antitrust is of course the front and center, but there are other concerns relating to these companies. That other laws might apply to. There is some pressure, or some people suggested, strongarming the antitrust laws to reach things that were not really intended to be covered by the antitrust laws. And im not really in line with that. I dont mind updating, making sure that we are properly applying the antitrust laws to new situations, but we are looking at antitrust, and we are looking at behavior across the board. And how that implicates other laws. The problem, obviously, and i said this in my confirmation hearing, big is not bad. I worked for verizon and i really appreciated that. But the question is when you have the kind of market power that some companies have in their markets, then some conduct which may have made sense when they were sort of being the insurgent company in a growing industry. Can become anticompetitive because it ends up fortifying the monopoly. And so theres conduct that is grown up in these businesses that we have to take a look at and see this extent to which it really involves maintaining a monopoly. Also, this is particularly true will we have a powerful network like we do in these sectors. And the other thing is these are businesses that operate in multiple submarkets, and you have to do a lot of thinking on how they are potentially leveraging power towards another. And also the role the data plays in that. Gerry a couple of issues again you may or may not want to comment on. But some of the people are raising concerns about things like bias results. They could be the algorithms could possibly conceivably beef favoring either their own products or people who paid. Is that a possibility . Is it something youd look into . I can take exactly what looking into. I think google has made public they receive civil investigative demands, but i think its kind of apparent to everybody the practices that are there. Gerry what about the simple scale of online advertising. Is that in itself a scale that they have . Is that a source of concern . That goes to the market power and then you have to look at particular practice that may essentially exclude other competitors and lock in their market power. Just successfully competing in getting into a dominant position is not itself wrong. Gerry up nestle attorney general raises concerns about liberty in this country. Stay with us. You are the one. Nothing shines brighter than you. You are my rock. Nothing is stronger than you. You are oneofakind. I love every facet of you. You are my diamond. For the diamond in your life, theres only one Diamond Store. Zales. Its the you are my diamond event. Get 30 off everything including these one of a kind deals. Exclusively at zales, the Diamond Store my hands are everything to me. But i was diagnosed with dupuytrens contracture. And it got to the point where things i took for granted got tougher to do. Thought surgery was my only option. Turns out i was wrong. So when a hand specialist told me about nonsurgical treatments, it was a total game changer. Like you, my hands have a lot more to do. Learn more at factsonhand. Com today. Gerry at the end of my discussion this week with william barr, the attorney general said he lamented the way government has moved away from supporting religious rights. Legally speaking there used to be a consensus, it was just ten years ago, 15 years ago, that there should be an accommodation and religion. In fact that pass overwhelmingly in congress, Chuck Schumer was a cosponsor. I think Teddy Kennedy and hatch were involved. And which is the maximum accommodations to religion. Religion is a good thing and we may have a general role, but for steps on somebodys toes week try to accommodate it. Thats done by the boards. And now, some people seem to take the right enforcing that particular group that would accept something that is in after much to them. I think humans have dealt with an evolved with religion for 50,000 years. And im not saying is just utilitarian thing, but it has been a very important part of our ability to live together in a community. And our founders believed that they could provide the kind of freedom they did in the system precisely because they felt the moral values that people had primarily from religion, they would be able to control themselves so we could give them maximum freedom. If they dont have that, then society becomes more and more tyrannical and starts making all the rules. I feel there has been an in breakdown of selfcontrol, and the government has performed the mediator of consequences of that. Subsidizing misconduct and we are getting more and more of that and less and less selfcontrol periods. Gerry chief executives are recently demanded to take public stances on some of these issues in ways that a lot of religious people object to. Is that a threat to again the religious freedom . My view is i dont think its a Good Development to have in all of these social warriors essentially pushing companies to take positions on these kinds of things. But those companies that do, thats fine, thats their choice if the shareholders are happy, thats fine too. But i was saying, and i think i said this at my confirmation, i personally do not believe that gay people should be discriminated against and work. Thats not currently under law, but i have no problem with that. I think thats the right thing. But on the other hand i think there has to be accommodations so that if a Catholic School system doesnt want to have a gay person whos leaving in a single marriage is a teacher, they should be able to say that. So my attitude is live and let live. There has to be space for different, real diversity. When people talk about diversity theyre not really talking about diversity purity i want real diversity in our society. I want people to be able to find their own communities and live according to their values. I think there is a group in our society that views their mission is going around and bludgeoning everyone into uniformity. Gerry that was attorney general william barr. Just ahead americas not the only place where history was made this week. What happened in britain thursday could have important locations for politics here. Whatd we decide on the flyers again . Uh, fifteen minutes could save you 15 or more on car insurance. I think were gonna swap over to over seventyfive years of savings and service. What, were just gonna swap over . Yep. Pump the breaks on this, swap it over to that. Pump the breaks, and, uh, swap over . Thats right. Instead of all this that ive already . Yeah. What are we gonna do with these . Keep it at your desk, and save it for next time. Geico. Over 75 years of savings and service. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. Quitting smoking is freaking hard. St, like quitting every monday hard. Quitting feels so big. So, try making it smaller. And youll be surprised at how easily starting small. Can lead to something big. Start stopping with nicorette beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk history was made in america, the same could also be said of the united kingdom. The British Conservative Party under Prime Minister boris johnson, wanted decisive victory on the general election on thursday. Will the vote was driven primarily by british domestic issues as you could expect, the more important is to finally deliver brexit after three long years of delay. There were some parallels to consider for american politics. Just as donald trump has been transforming the republican party, and winning over bluecollar workers in parts of the country that republicans havent won for decades. So mr. Johns and his conservative party won similar voters in similar rocksolid labor areas by remaking the party is a party that prioritizes national identity. Over issues of naturalization and brexit. There might also be a message for democrats in that vote. British voters emphatically were adjusted and labor party with a far left platform and a far left leader Jeremy Corbin who was promising Massive Public spending increases, higher taxes, and a lot of extreme social liberalism. Many of the same ideas of been hearing on the campaign trail for those vying to be the one to face President Trump in the 2020 election. The democrats begin to choose their candidate early next year to take on Trump Campaign<\/a> youll remember in 2016. One of directly finding bias, Michael Horwitz<\/a> conclusion was a really damning combination of the tactic used by Law Enforcement<\/a> agents to start and continue digging for information on district mr. Trump and his team. While just a few hours after the democrats went to the podium to make therefore historic announcement. I had the opportunity to speak at length with attorney general william bar with about a speech meant and reports. We began with impeachment. While the attorney general was now willing to discuss it any length cam he did weigh in on one of the chargers to. I dont believe its the case that we, somebody including a branch of government, is asserting a legal privilege that they have under the law that that constitutes obstruction. Gerry the second article said president tromp had the categorical defiance of pinots and given the constitution gives the house all responsibility for impeachment. This is itself a represent and tatian of obstruction. I just said what i said. It was predicated on advancing claims of privilege that have been previously been advanced and other administrations. And i dont consider that obstruction. Gerry is not unprecedented customer. No. Gerry lets look at what was occupying her tension yesterday which was the complication of the report of the justice Michael Horwitz<\/a> into the origins and the conduct of the investigation of President Trump<\/a> and his associates around the russia allegations about collusion with russia. Mr. Horwitz in his report said yesterday, we concluded that the fbi had an authorized purpose when it opened crossfire hurricane, that was the name of the given to the investigation, to obtain information about or protect against National Security<\/a> protects and crime. You said a response that yesterday the fbi and launch an intrusive investigation of the thinness of suspicions which were insufficient to justify the steps taken. Could you tell us what exactly, where you disagree with mr. Horwitz . Well first let me say that i think there are three parts or issues, lets say categories of analysis in the report. The first is was the investigation adequately predicated . The start of it . The second one is how is it conducted . And i break that down into two things. How is it conducted before the election, how is it conducted after the election . The real meat of horwitzs work and the thrust of the report actually deals with the conduct of the investigation. Where i think it quickly became apparent that it was a travesty. And there were many abuses, and that by far is the most important part of the report. And i think mike horwitz would agree with that. Its been nine these particularly pertaining to the pfizer application . And also from the facts of day one they got exculpatory information and nothing that substantiated in a type of collusion. But put that aside for a minute and go back to the issue. Many ways the issue of whether they were technically adequately predicated the something of academic interest. Where i disagree, and by the way mike knows i disagree with him, there are still people in this town where you can have, we can be adults and professionals and have a disagreement without tearing into those hearts out. Its just one of those things, we have disagreements the department of justice. I think the basic, its a big deal to use the Law Enforcement<\/a> and the intelligence resources of the United States<\/a> government to investigate campaign, especially opposing. The opposing party. Im sure there are instances in the past, but i cant think of any recent incidents. Gerry really quickly on this, the phis application, again the report is very crystal. Document 17 omissions or errors under the initial three subsequent applications with the fisa court for surveillance of carter page as we know. But the report does say that it resulted in by the reputations that it may appear that the information supporting probable cause was stronger than was actually the case. To you think that, given that, those phis application should never been made . Yes, this is the meat of the issue and if you actually spent time to look at what happened, i think youd be appalled. Your member they say we are not gonna go talk to the campaign, we are can ascend people in wire them up and talk to the individuals. That happened. That happens in august, september, and october. And it all came back exculpatory. People saying oh, you dont know were talking about. Its not only exculpatory in the relationship to were russians, but to the specific pack facts. And that a, they never did a thing about that they just pressed ahead. Megabyte theyd ever inform the court. They were told they did not have probable cause to get a warrant. So they took the steele dossier, which they had done nothing to verify, and they use that to get the warrants and collapse everything. They withheld from the court all the exculpatory information and they withheld from the Court Information<\/a> about the lack of reliability of steel. The real interesting thing here, the major take away, actually is after the election. Because in january, steel was dealing with one person. And thats what we call the primary sub source. In it was that person you have the network of sub sources. When they finally got around to talking to him, he said i dont know it steals talking about. I didnt tell him this. Its mostly barroom talk, rumor, i made it clear to him this was my own suppositions and theories. And at that. , it was clear that the dossier was a sham. So what happens . What happens at that. . They dont tell the court and they continue to get pfizer warranted based on that dossier and more damning. And more damning is they actually filed with the court the statement saying that weve talked to the sub source and we found him credible and cooperative. And they put that into bolster. [inaudible] what he is being truthful about is that the dossier was garbage. So its hard to look at this stuff, and not think it was a gross abuse. Gerry lummi put another way do you think those separate judges in that court were deadly misled . s. Yes. Gerry looking into the practices of big tech companies. Coming up next. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies<\/a> ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. And i like to question your im yoevery move. N law. Like this left turn. Its the next one. You always drive this slow . How did you make someone i love . That must be why youre always so late. I do not speed. And thats saving me cash with drivewise. My son, he did say that you were the safe option. And thats the nicest thing you ever said to me. So get allstate. Stop bossing. Where good drivers save 40 for avoiding mayhem, like me. This is my sons favorite color, you should try it. [mayhem] you always drive like an old lady . [tina] youre an old lady. shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill. Available at. Male anchor . An update on the cat who captured our hearts. Female anchor how often should you clean your fridge . Stay tuned to find out. Male anchor . This years most buzzed about premieres. Female anchor makes it redcarpet official with. Male anchor 50 5star products you can buy online right now male anchor tributes pouring in from fans. Female anchor her hot new album is just one of the things we talked about. Male anchor beats the odds at the box office to become a rare nonfranchise hit. [anchor voices ramp up together becoming indiscernible] you can provide the help and hope that survivors need. Gerry more noun when im my meeting with attorney general william barr. Earlier this sure the Justice Department<\/a> announced a Major Investigation<\/a> of Big Technology<\/a> firms. And i asked him when that investigation might happen. We started in earnest in july, and its been moving very quickly. We have a very ambitious schedule and things are keeping up to schedule. We are talking very broadly with people getting a lot of input from people in the industry and experts and so forth. And we are doing our analysis. I would like to have it completed sometime next year. I think its important to move quickly on things, that something i can talk about later. But these things have a cost to the marketplace and businesses. And i think at some. The government has to fish or cut bait. Gerry were the issues here these are not enormous countries they dont dominate the economy in the markets, but its well established that the scale alone that is not sufficient to warrant antitrust enforcement action or even to raise necessary concerns about unfair behavior. So what would be the concerns about what google, facebook, amazon, abelard and others are doing . Let me just say that our review is not just limited to antitrust. Antitrust is of course the front and center, but there are other concerns relating to these companies. That other laws might apply to. There is some pressure, or some people suggested, strongarming the antitrust laws to reach things that were not really intended to be covered by the antitrust laws. And im not really in line with that. I dont mind updating, making sure that we are properly applying the antitrust laws to new situations, but we are looking at antitrust, and we are looking at behavior across the board. And how that implicates other laws. The problem, obviously, and i said this in my confirmation hearing, big is not bad. I worked for verizon and i really appreciated that. But the question is when you have the kind of market power that some companies have in their markets, then some conduct which may have made sense when they were sort of being the insurgent company in a growing industry. Can become anticompetitive because it ends up fortifying the monopoly. And so theres conduct that is grown up in these businesses that we have to take a look at and see this extent to which it really involves maintaining a monopoly. Also, this is particularly true will we have a powerful network like we do in these sectors. And the other thing is these are businesses that operate in multiple submarkets, and you have to do a lot of thinking on how they are potentially leveraging power towards another. And also the role the data plays in that. Gerry a couple of issues again you may or may not want to comment on. But some of the people are raising concerns about things like bias results. They could be the algorithms could possibly conceivably beef favoring either their own products or people who paid. Is that a possibility . Is it something youd look into . I can take exactly what looking into. I think google has made public they receive civil investigative demands, but i think its kind of apparent to everybody the practices that are there. Gerry what about the simple scale of online advertising. Is that in itself a scale that they have . Is that a source of concern . That goes to the market power and then you have to look at particular practice that may essentially exclude other competitors and lock in their market power. Just successfully competing in getting into a dominant position is not itself wrong. Gerry up nestle attorney general raises concerns about liberty in this country. Stay with us. You are the one. Nothing shines brighter than you. You are my rock. Nothing is stronger than you. You are oneofakind. I love every facet of you. You are my diamond. For the diamond in your life, theres only one Diamond Store<\/a>. Zales. Its the you are my diamond event. Get 30 off everything including these one of a kind deals. Exclusively at zales, the Diamond Store<\/a> my hands are everything to me. But i was diagnosed with dupuytrens contracture. And it got to the point where things i took for granted got tougher to do. Thought surgery was my only option. Turns out i was wrong. So when a hand specialist told me about nonsurgical treatments, it was a total game changer. Like you, my hands have a lot more to do. Learn more at factsonhand. Com today. Gerry at the end of my discussion this week with william barr, the attorney general said he lamented the way government has moved away from supporting religious rights. Legally speaking there used to be a consensus, it was just ten years ago, 15 years ago, that there should be an accommodation and religion. In fact that pass overwhelmingly in congress, Chuck Schumer<\/a> was a cosponsor. I think Teddy Kennedy<\/a> and hatch were involved. And which is the maximum accommodations to religion. Religion is a good thing and we may have a general role, but for steps on somebodys toes week try to accommodate it. Thats done by the boards. And now, some people seem to take the right enforcing that particular group that would accept something that is in after much to them. I think humans have dealt with an evolved with religion for 50,000 years. And im not saying is just utilitarian thing, but it has been a very important part of our ability to live together in a community. And our founders believed that they could provide the kind of freedom they did in the system precisely because they felt the moral values that people had primarily from religion, they would be able to control themselves so we could give them maximum freedom. If they dont have that, then society becomes more and more tyrannical and starts making all the rules. I feel there has been an in breakdown of selfcontrol, and the government has performed the mediator of consequences of that. Subsidizing misconduct and we are getting more and more of that and less and less selfcontrol periods. Gerry chief executives are recently demanded to take public stances on some of these issues in ways that a lot of religious people object to. Is that a threat to again the religious freedom . My view is i dont think its a Good Development<\/a> to have in all of these social warriors essentially pushing companies to take positions on these kinds of things. But those companies that do, thats fine, thats their choice if the shareholders are happy, thats fine too. But i was saying, and i think i said this at my confirmation, i personally do not believe that gay people should be discriminated against and work. Thats not currently under law, but i have no problem with that. I think thats the right thing. But on the other hand i think there has to be accommodations so that if a Catholic School<\/a> system doesnt want to have a gay person whos leaving in a single marriage is a teacher, they should be able to say that. So my attitude is live and let live. There has to be space for different, real diversity. When people talk about diversity theyre not really talking about diversity purity i want real diversity in our society. I want people to be able to find their own communities and live according to their values. I think there is a group in our society that views their mission is going around and bludgeoning everyone into uniformity. Gerry that was attorney general william barr. Just ahead americas not the only place where history was made this week. What happened in britain thursday could have important locations for politics here. Whatd we decide on the flyers again . Uh, fifteen minutes could save you 15 or more on car insurance. I think were gonna swap over to over seventyfive years of savings and service. What, were just gonna swap over . Yep. Pump the breaks on this, swap it over to that. Pump the breaks, and, uh, swap over . Thats right. Instead of all this that ive already . Yeah. What are we gonna do with these . Keep it at your desk, and save it for next time. Geico. Over 75 years of savings and service. May your holidays glow bright and all your dreams take flight. Lease the c 300 sedan for just 399 a month at the mercedesbenz winter event. Hurry in today. Quitting smoking is freaking hard. St, like quitting every monday hard. Quitting feels so big. So, try making it smaller. And youll be surprised at how easily starting small. Can lead to something big. Start stopping with nicorette beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk history was made in america, the same could also be said of the united kingdom. The British Conservative Party<\/a> under Prime Minister<\/a> boris johnson, wanted decisive victory on the general election on thursday. Will the vote was driven primarily by british domestic issues as you could expect, the more important is to finally deliver brexit after three long years of delay. There were some parallels to consider for american politics. Just as donald trump has been transforming the republican party, and winning over bluecollar workers in parts of the country that republicans havent won for decades. So mr. Johns and his conservative party won similar voters in similar rocksolid labor areas by remaking the party is a party that prioritizes national identity. Over issues of naturalization and brexit. There might also be a message for democrats in that vote. British voters emphatically were adjusted and labor party with a far left platform and a far left leader Jeremy Corbin<\/a> who was promising Massive Public<\/a> spending increases, higher taxes, and a lot of extreme social liberalism. Many of the same ideas of been hearing on the campaign trail for those vying to be the one to face President Trump<\/a> in the 2020 election. The democrats begin to choose their candidate early next year to take on President Trump<\/a> and next years election may want to take a moche closer look at what just happened across the pond. While thats it for us this week. For the latest show updates be sure to follow me on twitter, facebook, an instagram. I will be back next weekend as we head into the holiday season. Ill be talking to george weikel about how the Catholic Church<\/a> has responded to the many challenges of modern times. Thats right here on the wall street journal at large. Thank you very much for joining. Welcome to barrons roundtable with the sharpest minds on wall street made to get behind the headlines and prepare you for the week ahead. Im jack otter. We begin with that we think the three most important things investors should be thinking about right now. The u. S. And china reached a phase i agreement trade deal after United States<\/a> mexico canada trade. But all means for your portfolio. With Charles Schwab<\/a> announced last month his two that shook up the brokerage world and surprise wall street. What it will made for consumers, financial advisors, and brokers. And fedex is set to report earnings next week, what could we expect and what will it tells about Retail Stocks<\/a> . On the barrons roundtable tonight my colleague sal beverly and jack. Jack trade deals are breaking out all over the place, grabbed his on mexico and maybe some good deals on china . And the stock market is is what . I have the party streamers, the air horn, the rally to sound the horn but i never got to sound the horn because we got a limited china trade deal. We avoid another round of terrorist. The market didnt really do much. I think that means the good news is kind of pricing at this. On china trade, thats not so bad. I expect pretty good news. What would become bad news from here is a total breakdown in talks, and a chance of further terex collation. But as long as we see good faith discussions, and maybe some pumping into deep next year, i think thats supportive of the stock Market Investors<\/a> are here. If we wouldnt have had a canada mexico deal that wouldve been real problems. That wouldve been a big problem. The new usmca looks like we have a deal between the president and the speaker and organized labor. And i think the biggest take away here for investors is we avoid having to tear down and remake supply chains that took 25 years to build under nafta. I think people talk about this substantially similar to nafta, you can quibble over how similar it is. I think its modestly better. I think there are things here for certain players to like, u. S. Autoworkers probably gonna see more contents of cars made here in the u. S. More trade is always good for trade and Dairy Farmers<\/a> theres more access from canada and mexico there will be a freer hand to bring organized labor down there which could help our workers here. So one. One particular stock you like is for warner . Will you s mca, i dont date a stockpicking case of what to buy and why. Its incrementally positive for borg warner who makes car components. Organist in warm manufacturing here. Ill like them they like money on gas cars, hybrid car they have high staying power. For them and Kansas City Southern<\/a> which is around. Its really the removal of any risk with respect to borg warner right . I think so, it would have been a negative had this work not come through. But now i think were in the position to grow. Steel Company Stocks<\/a> are still down from the election when good things were gonna happen. How does that play into the car industry . Steel is a tough business to check out. Theres a world price first deal so what goes on here is dependent upon the supply around the world. I think usmca is quoted for steelworkers here in the u. S. But Car Manufacturers<\/a> i think their cost could go up because theyre more things built here. So you look at the ca and thats a slamdunk for buying gm. If youre gm anyhow, thats fine. But cars he got below bit. Beverly a want to go with you, weve got a big story in barrons about the ameritrade deal. A lot of stuff jumps out at that. I would go straight to the. That theres a few weeks before announcing this deal, schwab cut conditions to zero. Why is that interesting in this business deal . It made the deal a whole lot cheaper. What couldve been a 30 billiondollar deal goes more like 26 billion. Because ameritrade suffered a lot more them when the industry basically decided it was not in a charge transaction fees. s a lot of its revenues as commissions. Or swab is much more revenue stream. Is their competitive issue with your choices . Theres still plenty of choices but its amazing to me how often fidelity and vanguard get overlooked in these conversations. They are not publicly traded so from a stock investors. Of view they are kind of out of the mix. But schwab even after this deal, even after doubling the number of the accounts it has. Is still smaller than both of those companies. Jack them with everything being free now, how do you distinguish between swab fidelity and any other cut their country . Is an individual investor its all about service. Almost every thing is free these days. So you can expect prices to come down anymore. So its really the Little Things<\/a> like how you interact with the company prayed with the Customer Service<\/a> like whats a Technology Like<\/a> customer whats the website like . The advice that it gives through robo plans. And some things on the margin like sweep accounts and how much money you can make on your cash. Before that is interesting how many damage the player. Woody of spacing with fedex . Is going to be high drama for a variety of reasons. But the stock is pretty beaten up. Its a very low expectation right now. So on balance things will probably work out okay because stock markets a funny thing. Even bad news can be good news. If its just not to disastrous news and they cut guidance big time last quarter and there are several things going on so people have been avoiding the sun for the last few months. Jack things are basically flat on the year when its been pretty good for stocks but is down from two years ago. But the Bigger Picture<\/a> the retail industry. The fedex is sometimes look at as a barometer for online realtime retail sales produce still do that . Logistics is a lifer to the economy they always look at fedex this get a sense of whats going on as a Global Global<\/a> macro as retail and commerce growth. But this quarter they walked away from the amazon business there and talk about ecommerce growth but its going to be a subset of east commerce growth. And now we have to decide if we have a broad read on retail just from fedex earnings. Kennedy last year some people told me free twoday shipping is now table stakes during the holiday seasons and retail. You have to have that if you want to play. Is that still the case . Is there an increase in the arms race . Is there free oneday shipping where you have to be to be a big retailer right now . I think two days is table stakes everyone is racing to oneday shipping to sameday shipping. Amazon wants to deliver packages, walmart wants to deliver packages. To this race for the last mile and how youre gonna get step as fast as you can, in theory it should be good for fedex. Everybodys can be ordering online for volume. The problem is this isnt free. Cant just sound the drive faster in the work hardy has put capital in the ground. And with new entrants, essentially with people trying to deliver packages that used to be delivered by fedex or ups, everything sort of is up in the air. One analyst put it its going to be an incredibly interesting quarter in incredibly nerveracking. Jack i know i will be ordering online december 23 so im glad theres twoday shipping. Coming up the Panel Debates<\/a> the investing outlook for 2020. But first baron stock top stock picks for the next year andrew berry explains why these investments will outperform in the coming year. Hell give the names next you are the one. Nothing shines brighter than you. You are my rock. Nothing is stronger than you. You are oneofakind. I love every facet of you. You are my diamond. For the diamond in your life, theres only one Diamond Store<\/a>. Zales. Its the you are my diamond event. Get 30 off everything including these one of a kind deals. Exclusively at zales, the Diamond Store<\/a> im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. From packaging tape. To tape that can bond materials to buildings. And planes. One idea can unlock a breadth of solutions. At 3m, we are solving problems that improve lives. This is the epsonlock no more buying cartridges. Big ink tanks. Lots of ink. Print about. This many pages. The epson ecotank. Just fill and chill. If you have postmenopausal osteoporosis and a high risk for fracture now might not be the best time to ask yourself are my bones strong . Life is full of make or break moments. Thats why its so important to help reduce your risk of fracture with prolia\u00ae. Only prolia\u00ae is proven to help strengthen and protect bones from fracture with 1 shot every 6 months. Do not take prolia\u00ae if you have low blood calcium, are pregnant, are allergic to it or take xgeva\u00ae serious allergic reactions, like low Blood Pressure<\/a> trouble breathing; throat tightness; face, lip, or tongue swelling rash; itching; or hives have happened. Tell your doctor about dental problems as severe jaw bone problems may happen or new or unusual pain in your hip groin, or thigh, as unusual thigh bone fractures have occurred. Speak to your doctor before stopping prolia\u00ae as spine and other bone fractures have occurred. Prolia\u00ae can cause serious side effects, like low blood calcium; serious infections which could need hospitalization; skin problems; and severe bone joint, or muscle pain. Are you ready . Ask your doctor how prolia\u00ae can help strengthen your bones. Jack andrew berry is a 28 year veteran of barrons and a pillar of our newsroom. He has just written his much and pissed dissipated stocks for the coming year. Enjoins us now to share his pics and explain his thinking. Thank you for stopping by the studio and earth that look before we to 2020 lets look back to 19. Their neck and neck with the market but one that stands out is apple. Its a very close to stock up but you decided correctly that 19 was a good year for it and its up 6 . Why did you decide that . There is a lot going on with that especially the iphone sales. Theyve also been better accepted than we thought. Especially in increase and their accessories. They have an aggressive buyback proposal thats helping really well. So be force thats gone really well so youve got ten more pics for this year. The markets fairly valued right now. Its up almost 30 with a total return of the s p 500. So were a little bit more defensive and valueoriented as we approach 2020 with our pics. The. Kennedy the average pd of your stocks is 14 versus 17 looking at 2020. Thats right and some around ten, some are below the market, actually most of them below the market. Jack so lets look at alphabet thats a little cheaper right now. Alphabet is a Technology Conglomerate<\/a> of businesses including local Search Engine<\/a> plus businesses like youtube, maps, waves, and economist driving vehicle company. Jack and some think it could be broken up but ive talked to investors its not really says thats a good idea from a corporate level. It was actually invents the value of the stop. I think theres talking about the breakup, especially if trump wins the election next year. But some of the parts of the companies are worth more than worth trading for for right now. I. Jack number two shar hathaway why is this the year for that . That had a real to reap poor year this year which is up about 9 which is 19 below which is one of the worst showings than i think its a time to look for the stock. Jack and the new one is viacom cbs, cvs is not been doing wellin recent years after nice runoff. I think the word stock is doing worse in the company i think there are concerns about cutting and just whats gonna happen to the future of traditional tv. And thats weighing on the stock. But that creates a leading company in booktv and movie business in the streaming service as well. I think its pretty wellmanaged company with an underappreciated ceo. Jack and may be your most contrarian pics Royal Dutch Shell<\/a> Energy Market<\/a> which is not popular with investments right now. That has been the worst of the market this year end last year. Energy is very much out of favor in a particularly european like bp is out of favor. Climate activists are targeting the companies over there, and investors are increasingly skittish about owning oil companies. So they now have six and half yield in a very low price around 13. And that yield is safe . I think its pretty safe consuming oil prices dont collapse edited thats pretty good bet. Kennedy and finally dell technology. Even watching this company closely in fact the traffic stop vmware you had an interesting exchange. This is a convoluted means a year ago when they basically bought out the tracking stock for vmware which is a Software Company<\/a> that they controlled. But dell is also a Technology Conglomerate<\/a> hardware as well as a stake in theater which is actually worth more than dells entire market value. So its an intriguing situation that could have some catalyst in the coming year. Jack view pointed out that anomaly and a while ago tell us about your call from carl icahn after you wrote that. Will qualify as a good idea, and he ended up buying the tracking stuff and also vmware. He actually reads barrons. Jack youre being very careful here but he made off a lot of money on that so thank you for pointing that out. Thank you so much andrew to see the rest of your pics you can pick up a copy of barrons or go to barrons. Com. Coming out of ideas on what you can do right now to improve your portfolio. But first, j. P. Morgans fund she for global strategist gets a seat at the table. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies<\/a> ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. A former army medic, made of the we maflexibility to handle members like kate. Whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. 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Not promise. Prove. And now, 48month financing on all smart beds. Plus free premium delivery when you add a base. Ends monday. Jack with 2019 coming to a close investors are looking ahead to 2020. This weeks barrons cover story examines the views of. Market strategist for joining the ray town j. P. Morgan chief global strategist speaks of influence strategies. Theres a lot to talk about david, lets start with the big big picture. Looking at the global economy, but particular in the u. S. If a depression is one and one of them best times is ten where do we stand right now. Closer to ten prayed we have to look at levels and growth. The levels of this economy are excellent. Between the unemployment and we dont expected to rise last year. We think that we will be able to get through 2020 with probably without a recession starting. This is the only decorator in American History<\/a> where there has not been a recession. We have a stable economy, low unemployment, and slow growth. But their slow growth in the economy overall, with got more challenging returns from both equity growing forth. And thats a concern to some investors periods before youve been pretty vocal on an interesting. Of growth. While the president has berating the feds for not lowering the rates more. You have been berating the feds for not raising it more for couple years now. Its amazing what you can learn about was sewing on the night states but also japan and europe. With all this monetary stimulus but you dont see is stimulating anything. And theres a reason for this. Any medicine taken to an extreme text makes a poison. When you look at all of the mechanisms for which this is supposed affect the economy, the parlor affects temporal fate and the negative increases. I dont think it works overseas, but i dont think anything this year will really change the attitude of the u. S. Economy at all. Jack and one thing you. To is the fact that its the fear that rates will be going up that will drive people to spend stuff. Thats right simmons among relatively low but people think its going up. I should borrow that money now. I should sell my house now. I should sell my house now i should take advantage of low rates. They say dont worry, each of breath for breakfast itll be low forever more. So. Jack maybe we dont have enough drive powered or when this next recession hits to stimulate enough. But it sells i should not be staying up at night crying about it. I think with military and physical stimulus being applied to the u. S. Economy over the years that im not too worried that this army is can run out of ammunition. But also we should have a faith in the american economy. Every day 325 million americans, they get up they want to work more hours, they want to spend more hours, they want to get ahead. Growth is the normal situation for an economy not stagnation. To the economy can recover from any weakness if you can reduce uncertainty and give businesses more clarity on the environment. Given that there is less upside Going Forward<\/a> is this a time when americans who have country bias should be looking more overseas . Absolutely i think the United States<\/a> must be close to a record, of stock Market Capital<\/a>ization. And i dont think america having 56 of anything. Usually seasoning that hides going to come down. But ask yourself this. How Many Americans<\/a> have 44 of their equity Exposure International<\/a> . Almost nobody. They are almost all below that. It does not make sense. I know people get scared of the rest the world, but the truth is, the rest of the world will grow in the long run just like the United States<\/a> will. The rest of the world were grow faster. The emerging markets, americans should get over that fear an investor on the world. Jack will more question for you what can we do to use growth rate on this country . I think we should look at the population growth. The its only two tenths of a year of this decade ahead. We should actually look at immigration. We had 2 Million People<\/a> immigration Going Forward<\/a>. Then 1 million, now we could add about half of that growth i wish we could take immigration out of the political sphere. Of course it has to be regulated. But this is a time when america actually needs immigrants and immigrants who work. The kind who would like to come to america. Tells on the younger viewers to make babies, wouldnt that help . Jack the long run that will be good but i have a team of millennials and the shock on their face and they actually realize what parenthood really is. [laughter] i think they tell stories to their friends thats kind of discouraging everybody. Jack on that score we have to leave right there. But we up next roundtable members give their investment theres a lot of talk about value out there. But at fidelity, value is more than just talk. We offer commissionfree online u. S. Stock and etf trades. And, when you open a new Fidelity Brokerage<\/a> account, your cash is automatically invested at a great rate thats 21 times more than schwabs. Plus, fidelitys leading price improvement on trades saved investors hundreds of millions of dollars last year. Thats why fidelity continues to lead the industry in value while our competition continues to talk. Talk fidelity. But you dont feel good. With polycythemia vera, pv, symptoms can change so slowly over time you might not notice. But new or changing symptoms can mean your pv is changing. Lets change the way we see pv. You track and discuss blood counts with your doctor. But its just as vital to discuss changing symptoms as well. Take notice and take action. Discuss counts and symptoms with your doctor. Visit takeactionpv. Com nothing shines brighter than you. You are my rock. Nothing is stronger than you. You are oneofakind. I love every facet of you. You are my diamond. For the diamond in your life, theres only one Diamond Store<\/a>. Zales. Its the you are my diamond event. Get 30 off everything including these one of a kind deals. Exclusively at zales, the Diamond Store<\/a> ugh, another electronic signature. You have to print, walk, sign, scan, recycle, walk, email yourself. Really . More walking, try again, waiting, recycle, walk, email yourself, then get back to your day. Or not. This isnt working. Introducing samsung paperless workflow solutions. With the galaxy tab s6, you can sign Digital Documents<\/a> onscreen, with a finger or your s pen. Samsung business solutions. Male anchor . An update on the cat who captured our hearts. Female anchor how often should you clean your fridge . Stay tuned to find out. Male anchor beats the odds at the box office to become a rare nonfranchise hit. You can give help and hope to those in need. Kennedy s untrained and your call this week you talk about buying high and youre not dogma the cannabis industry. Thats right i deliver a statistical wedgy to anyone who is ever use the phrase by low sell high. Its not helpful, its a truism rapids around a node. Inside something yogi berra wouldnt announce. And also the evidence stands against it. Theres a vast body of research that says youre better off buying high and selling higher. Because momentum investing works. At the stacks up a lot its a good sign. With got a great interview with peter lynch next week, when things he said to me was trying to sell your winners and put more money into the stock thats going down. Which is kinda classic value. It is like watering your weeds and cutting your flowers. But i dont think momentum investing and Value Investing<\/a> are opposites. Instead of buying shares that look cheap, and youre sure youre right in the world is wrong you are gonna wait till everyone is going to come round to review. You can search for stocks that look cheap and theyre already looking like that we were in a screen like that maccallum. Jack and barons traditionally want you to go into the coming week making your next move. So beverly one actionable idea. Emerging markets i believe with david kelly for international exposure. I would focus on emerging markets. Its not really recovered but they are set to. In an easy way to play the indexes ing. I hope youre right. At theres a new king of the mountain, the largest Market Capital<\/a> in the world is an old Economy Company<\/a> saudi aramco almost 2 trillion, knocked all the tech giants off the mountain. I would rather stay with the tech giants like a google parent alphabet which and or barry writes about this week. Before i think thats a great call to read more check out this weeks edition barons. Com and be sure to join us next week when we talk to legen weekend. Lou good evening, everybody. President trump entered this week as a target of the rabid radical dimms seeking his overthrow. And he is this week as the author of two historic trade agreements that add considerable weight and luster to his historic list of achievements and successes over the fires few years of his presidency. 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