Transcripts For FBC Cavuto Coast To Coast 20240712 : compare

Transcripts For FBC Cavuto Coast To Coast 20240712

Didnt exactly do wonders for Hillary Clinton four years ago. Were on the latest theme park controversies going on in california. Walt disney land not open yet. Doesnt look to open anytime soon, even though businesses in and around the Magic Kingdom over there are beginning to reopen. Meanwhile the Magic Kingdom on the other side of the country, florida, disney world, very much open. Were on top of all of those developments including getting ready for the the big debate tomorrow. The markets have an interesting way of playing off of that. We have the latest with Hillary Vaughn with the what is in store for the final president ial clash. Hillary. Reporter neil, the stakes are clearly high because both campaigns have indicated their internal polling shows that the race is much closer than what public polling suggests right now. In a new survey from the university of New Hampshire might explain why. According to the survey there are a lot of shy Trump Supporters that feel like they need to hide their support. 68 of them say they will not put a trump sign in their yard. 64 say they are uncomfortable putting a trump sticker on their cars. So a tighter race really makes the final president ial debate critical for both candidates. Joe biden has taken the entire week off the trail to do debate prep. Letting his biggest surrogates do the work. Bernie sanders stumped for him on sunday. President obama is holding a rally for him tonight in pennsylvania. Trump has taken a different approach. He is blasting through battleground states from nevada on sunday and North Carolina today. Biden has been zooming from his home in delaware he did a local interview where he criticized senator ron johnsons report on Hunter Bidens. This is the lastditch effort in the Desperate Campaign to smear me and my family. This is the last debate. It will have six topics but none of them are focused on Foreign Policy which is a break in president ial campaign tradition. The Trump Campaign says this is steering topics away from biden and his sons overseas business dealings. The other break from tradition, will muting microphones for the two minute answer period after a question. Were waiting for clarity with candidates microphones will be muted if one candidate is interrupting too much. Neil . Neil i wonder how they start that . I know they will warn about muting but, they give you one shot and then if you go over 10 seconds, then, i dont know. Going to be a mess. Could be a very good drinking game. I will get into that in just a second. In the meantime, its a joke, its a joke. We will have professional coverage on fbn, i guarranty that. There is couple different takes what is going on in the markets. For example, down a little bit today. Two competing views. One has a great article, got finished reading on market watch a few minutes ago. Stock Market Investors are starting to focus on bidens narrowing lead against donald trump. I want you to juxtapose that against another article that has been focused on Goldman Sachs coming out with this idea of a blue wave. Whatever your politics it will mean a green wave for the economy. It will be a lost spending that will be very stimulative. So no matter what the effect of tax hikes, it will be a offset by a lot of spending. Reason why i mention these competing tugs in the market because theyre very, very real. This latest market watch report about bidens narrowing lead has nothing to do with who ultimately wins, it could be so close it drags on for a while. Keep in mind markets abhor uncertainty. The premise of the market watch piece if it drags on for a while, looks that it could, narrowing as it has in a lot of polls, particularly battleground polls that means you dont get any closure on this anytime soon. Markets abhor this kind of uncertainty. That is the case. One of the reasons writers of this article say this is dragging on stocks. I want to get the read on brian wesbury, First Trust Advisors chief economist. Interesting piece, brian. You and i gotten into this whether Election Nights goes, drags on a while, many times see joe biden with a comfortable lead. It is not what it does. It does add an element of uncertainty for investors. Do you buy that . Yeah. Obviously every election, especially these last couple of decades have been tight, tight, tight, right . Were in a way, kind of a 50 50 country. It comes down to the electoral college. One thing i think about markets is that they often times, yes, uncertainty faces them and right in front of them but they know that in four weeks, six weeks, if you think about the next six or eight weeks, were going to get news about a vaccine. Well know who is in the white house. Were going to know what the Supreme Court looks like. Obviously the election has something to do with what we do with that in the years ahead but a lot of this uncertainty is going to get out of the way so sometimes investors go, i see uncertainty in front of me today but we know it is going to disappear pretty soon. So you can often times just look through that. Neil you know, back to this goldman theory whether you like joe biden or not, sort of saying what a potential biden presidency could look like. Right. Neil that will be big on spending, big on stimulus, big on bigger deficits if theyre not big already, that could be actually tonic for the markets. What did you think of that . I, vehemently disagree with that idea that Government Spending will make the u. S. Economy stronger. Im not going to tell you it wont add, if we buy windmills and solar panels and create a whole new Green New Deal industry, that is going to be spending that will add to gdp the question is is it productive . I mean, everybody remembers the subprime crisis. People borrowed money at very low rates, bought houses that they really couldnt afford at higher interest rates, and we ended up with a crisis of. The same thing is true for the government. You cant borrow and spend your way to prosperity. Greece has tried it. Puerto rico has tried it. Lots and lots of countries throughout history has tried it and it always ends in disaster. So this idea we can spend our way to prosperity i dont buy it at all. I think it is a way of in a sense just kind of supporting a certain political idea, economic idea, that doesnt work. You cant spend your way to prosperity and so yeah, you can boost gdp for a couple of quarters but eventually you have to pay that debt back and america will have a problem if we do. Neil we piled up a lot of debt already. We have to pay that back. Yeah. Neil a pox on both parties for that, right . Absolutely. Totally agree. It has been going on for decade. Neil yeah. I hear you, my friend. Thank you very much, always good catching up with you, brian. Learn a thing or two, i need to learn a thing or two. Brian wesbury on all of this. This article is fascinating. When i think i cover all angles on stuff, this premise of a tightening election and the impact on socalled certainties quoting from it, one ever the authors of it, while it is perhaps true that during the first two weeks of october risk markets were supported by a widening of u. S. President ial odds which by itself implied a lower probability of a crowser contested u. S. Election result over the past week or so these odds have started narrowing again. The retrenching in u. S. Stocks then can be attributed to the narrowing of the polls in the president ial race, not the lack of progress on fiscal stimulus plans in congress. In other words the view that a sure thing is not such a sure thing and one of those sure things that someone wins by a big enough margin, that was the implication with the biden polling that it is beyond dispute, this seems to be raising the possibility of polls narrowing not the one youre looking at right now, but with polls narrowing in general from where they were, that could be called into question. Again markets arent red or blue in that circumstance. Theyre always looking out for the green. They dont know which way this goes. They dont like uncertainty. They have a mexican standoff. I have ethan berman, liberal commentator, radio host, we have lily galetta, culture ceo. Lily begin with you, end with you. This premise, i get it, markets abhor uncertainty but it is narrowing of the polls adding to that. Only two weeks to go, less than that, now, they would have to substantially narrow. We have to buy theyre accurate. President says theyre fake news and all that. If you look at the trend it certainly isnt good for him, but, but of late they point out the fact they have narrowed and that is adding an element of unpredictability for election day. What do you think of that . I think as you were saying very well, neil, we dont like uncertainty and anything that seems like it is going to be a contested election will be a problem but as you know we do a lot of big data analytics. So the last week let me tell you that 3. 6 million digital discussions that were positive discussions about both candidates were showing a very close tight race, 48 positive for President Trump and 52 positive for biden. So again, who do you believe . I like to believe how we look at data because that is the unbiased, unsolicited voice of the people, that is at a national level. I think this notion of a lot of Trump Supporters in the closet, not volunteering their opinion or where they lean could be a surprise, but it is extremely tight especially with five or so key states in my opinion will be decisive november 3rd. At the end of the debate wee looking forward to needs to clear the air in terms of economy, jobs, how we get recovery, to bring the blame, brought this depression, pandemic, we see were closing down again. We have to understand what the plan will be to each candidate. Neil you know what is interesting, ethan, 40 Million People already voted, that goes up a few million a day. It could be up to 80, 100 million, all said and done by election day, dwarfing in person voting. This big debate tomorrow, its a big event, it is a big event so were covering it on fbn so it is a covering it on fbn but it might be a nonevent. If so many people have already voted, in the aggregate undecided voters, will it move the proverbial needle, what do you think . It is great, i love this topic, neil, were living in unprecedented times on so many levels. We talk about the market like some certainty who will win the election. This has been a chaos presidency. It is full of uncertainty. The debate will shed little to new light because of the referendum on the sitting president. This is the first time weve experienced it since the 92 election you and i remember, neil, where the sitting president is facing referendum on his own policies, what he has done. It is not so much about the opponent. It is about did this person fail in their first term as president . So the debate weakens trump because supposed strength was interrupting 128 times in 90 minutes with joe biden and Chris Wallace in the previous debate. With this muted mic business coming up, that takes away one of his perceived strengths, that is to cut off the moderator to attack joe biden while he is speaking. I dont think it moves the needle. Im exciting we might not have results until november 10th. My prediction well know the week after close of elections well have actual results weigh can say who our next president is. Neil im curious how they pull off that cut mic thing. There are millions of viewers out there will want to cut my mic, you do that with the president of the United States, the other guy wants to be president that can be a little dicey. Lily, a quick take, the six 15 minute segments for this debate, each candidate two minutes to answer uninterrupted, some of the topics are fairly vague, leadership, american families, the president is protesting that, nothing on Foreign Policy and the rest. Doesnt look like theyre changing that. Does that add to putting him on defense here. Because he wants to mention the biden emails and all of that because the moderator presumably will not. What do you think . I think President Trump will be trump and even if not asked he will have a way to weave those topics in because they are hot and he has been looking for that platform since, censorship is happening of the story on other channels. I wouldnt be surprised once again the answers that are asked are not necessarily tied to the questions because this is that one last chance. Sure, a lot of people. Neil maybe youre right. A lot of people decided millions cast votes but there is still questions what is the plan because we keep hearing on one side new politician there has been some results with the economy, then Vice President biden 47 years as a politician, what are those Key Highlights . I think people want to know what exactly will you bring to the table that is different given your track record each of our neil you know. They look like 47 years. He has done some things. He has not been a msnbc ba the last 50 years. I know where youre coming on the political argument. Ethan, one of the things i wanted to ask you, they want to put joe biden on the spot. Many recommended president not interrupt him. Let him explain his position on packing the court. They say if the president were to do that, joe biden would be the one who is vulnerable what do you make of that . I love that argument from the opposite side here. Joe biden is a phenomenal speaker. He is resting this week. He is preparing for this event. And those who take the time to actually listen when he does speak he has well thoughtout plans. He is progressive and democrats changed their mind when new data comes in. I love the argument he has been a politician for 47 years. He has evolved. Neil he is a little lumbering. He is getting a little old. He kind of lost his fast ball. Im not here to criticize older people. I dont remember what i had for breakfast, who am i to judge. Ethan, i it comes up a lot, he has exchanges with reporters, left unexposed, uninterrupted whether that could in fact hurt him. You say no . I just dont think it will. I really believe he knows his positions. He knows where he stands and it is always funny when people go we dont know anything about joe biden. Go to joe biden. Com. Anybody paid attention last several months knows where he stands unless youre listening to opposition who is attacking by the way i could spend all the time attack as well. Were not going to. Im looking forward in tomorrow nights debate joe present a positive position when he expects to do when he is president next four years. Neil i hope they dont do that. I hope they get nasty and constantly have the mics cut. You want something more solid i deeply admire that i was not making light of that. It will be interesting. That debate tomorrow night here here. They are free to cut the president s mic, how do they do that . Do they cut it immediately . Give you a 10 seconds warning, youre 10 seconds over . How do they do that. Well individual broken down for a drinking game here shortly. Youre watching fox business. At aetna, we take a total, connected approach to your health and wellness to help you age actively. With Medicare Advantage plans designed for the whole you. We offer monthly plan premiums starting at 0. Hospital, medical and Prescription Drug coverage, in one simple plan. Plus dental, vision and hearing. Aetna Medicare Advantage plans. Medicare annual enrollment ends december 7th. Call today to learn more and well send you a 10 visa reward card with no obligation to enroll. Neil all right. Stimulus is it on or is it off . If you look in the house things are getting a little interesting, if you look in the senate, doesnt matter what is going on in the house because they are uninterested. Chad pergram on the latest where all of this stands. Reporter House Speaker nancy pelosi yesterday was supposed to be the deadline, a selfimposed deadline to get deal so they could get legislative text developed later in the week. That did not happen. She continued conversations with treasury secretary Steve Mnuchin. They will talk again today, but things are looking up according to the white house chief of staff mark meadows. I can tell you that the negotiations have entered a new phase which is more on the technical side of trying to get the language right if we agree upon the numbers. Were still apart. Still a number of issues to work on but the last 24 hours have moved the ball down the field. Reporter however a lot of lawmakers are in the dark. These talks are just between pelosi and mnuchin. What is unresolved are big issues, money for state and local governments, gop demand for liability protections. Some republicans are willing to spend more if it is targeted. Pelosi wanted legislative text locked in by friday if the house were to vote before the election. Senate Majority Leader Mitch Mcconnell said the senate would consider whatever the house sends over but mcconnell wouldnt commit to doing it prior to november 3rd. Some republicans have questions about what mnuchin is negotiating but not north dakota coat at thats kevin cramer. He has a better working relationship with the speaker probably better than anyone over here. That is good, thats valuable. I dont know that doesnt mean every republican will support it, the position he ends up with. Reporter a senior aide on capitol hill tells me dont believe the happy talk where theyre going with these negotiations despite a lot of optimism being expressed by the administration here and keep in mind they still have to have the right mixture of republicans and democrats to get this across the finish line in the senate. You still have to have 60 votes to overcome a filibuster. Neil. Neil do that point, House Speaker nancy pelosi is giving an interview on msnbc, chad, and she is talking about the prospect there is for a covid19 aid deal. That lifted the m

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