Followed. It will amount to a declaration of complication war and it will warn a response with economic means, political means and, if necessary, other means. Our american friends should understanding that now, that threat follows this weeks announced u. S. Sanctions on moscow for its use of a nerve agent to target a former russian spy on british soil. Those sanctions, by the way, which could ratchet up even more in 90 days just the latest blow to the russian economy and, in particular, its currency. I dont have to tell you this, you know. This but for the folks at home who are unaware, the president s Dollar Diplomacy sent the ruble plummeting. Their currency is down 7 for the week. Its worst week in over three years. It is absolutely cratering. As for the state department. Here is what Heather Nauert had to say. She said Secretary Pompeo spoke with russian counter part sergey lavrov. Secretary pompeo reiterated the u. S. Seeks an improved
the 10year Treasury Yield settled lowest level since mid july. With those levels the yield curve is narrowing. That means banks make less money when they lend. Not surprisingly bank stocks were one of the groups that weighed in in on stocks. In u. K. And europe, stocks down across the board. European banking stocks down on concerns about lenders exposure to debts in turkey the turkish lehr are a hit a record low vest success the u. S. Dollar. President trump authorized a doubling metals tariff on turkey quoting the president s Tweet Tariffs on loom aluminu our relations with turkey are not good at this time. There is an added diplomatic layer to the tension that turkish delegates returned from d. C. With no apparent progress on releasing an american pastor who was detained in turkey in 2016. Turkish authorities accuse Pastor Brunson of supporting a failed coup attempt
against tuckerys president erdogan and his government earlier that year. The pastor has denied the charges but still being held in turkey. Also another diplomatic issue has turkeys plan to acquire Russian Missile defense system. The Trump Administration has objected that that situation. Unclear if turkey will change its mind. President erdogan has spoken with russian president putin and discussed strengthening economic ties between the two countries. Trish, a lot for investors to digest today and this week. Back to you. Trish for sure. Thank you so much, deed draft todays sell off warranted or is this overblown . Lets ask our guests. Kevin, what say you . The thing with turkey is clearly a Garden VarietyCurrency Crisis rooted in a country that was driving growth and spending beyond its needs. So it had been needing to import capital for years and i dont believe its a systemic problem. Is the eu going to break up. German branches holding a lot of greece. German banks learned their lesson. Spanish banks own about 30 billion of turkish debt followed by france 13 billion and italy. I dont believe the Contagion Effect with greece is something that the market should worry about. I think its a bit overdone. Trish i think you are right its a bit overdone. The market is worried to sell off rather significantly with nothing thats motivated the selloff here in this country. So, kevin, back to you for a moment, i mean is, this just sort of one and done its friday in the summer and people are kind of looking for a reason to sell or is this something that you think is going to be a problem as we go into next week and the rest of the summer . Well, you cant item. Youve seen this in the past in other emerging market economies. That has often necessitated a bailout of some kind. We have to see what happens here. But, the reality is, their
debt is an asset to somebody else. If their debt becomes impaired, then those other assets held on someone elses Balance Sheet become problematic as well. So, we have been overweight. U. S. Equities here in the United States. U. S. Assets because we think that growth is better here. And underweight overseas and especially emerging markets. Trish you look at the kohls of our debt in terms of what we are paying for Interest Rates it keeps moving down. Its good to see both of you. Thank you so much. Meanwhile russia slamming any additional sanctions by the u. S. S. As an act of economic war. And vowing to fight back not just economically and politically but by, quote other means. What exactly does that mean other means . How serious a threat should that be . How should we take it Rebeccah Heinrichs is with the Hudson Institute and joins me now. Good to see you. Good to see you, too. Trish other means. What are we supposed to think that. The russians threaten. This is what they do. We shouldnt not take it
seriously. So, you know, any time this is a Nuclear Power we should take it, you know, a little bit seriously. This is kind of what they do. They threaten aggression. Back in march the United States kicked out those 60 russian spies out of the u. S. So this is sort of this is ratcheting up our response to the russians use to a Weapons Grade Nerve Agent on u. K. Soil to try to as iassassinate this former spy. So this is just a consequence of their actions. Trish rebecca, what i love about this is we have so much economic power. And we can use it i would much rather see us use our economic power than any kind of military power. That should be last resort. Right . You use everything you can economically speaking to try and to try to influence these actors. And we know, i mean, given russias economy right now, walk us through it. They cant withstand a lot of these sanctions from us. Can they . The ruble is falling in value they have a weak economy. The Trump Administrationknows. This thats something that is incredibly unique about the Trump Administration its perfectly willing to use the full weight of the American Economy. To strengthen the American Economy and we would it in Foreign Policy and use all these diplomatic levers and tools to implement american Foreign Policy, everything short of Military Force but, also, you know, having this sort of foreboding credible Military Force should everything fail. Its actually having great effect. This is an administration thats been incredibly tough towards russia and the russians understand strength and resolve afternoon thats what they are getting from the Trump Administration. Trish interesting because the left keep criticizing this administration saying its too soft on russia. If you look at the actual policies and if you drill down on that what you see they are anything but soft. Thats right. Because President Trump has a different rhetoric that he uses towards adversaries but its not just russia. The president s opponents like to pick on russia. He is the same way towards
committee jinping and kim jong un and other authorities because he tries to have a good personal relationship with them to see if he can have a diplomatic break through while not relenting at all as a matter of policy. Trish really, really interesting and very different from anything we have seen from previous president s, i think. His rhetoric when we see him in the room with these leaders is quite charming and he has that Charm Offensive going on. And, yet, the policies themselves are pretty challenging for these leaders. For example, what we are seeing in russia u is it going to get us anywhere . Is it going to change the situation in a material way . Rebecca . I think out important thing here is that we cant let the russians get away with just impunity on using Chemical Weapons. We have these banned. We have seen the russians give cover towards assad using Chemical Weapons in syria. Then this Weapons Grade Nerve Agent in the u. K. This has got to stop. The big thing here is to compel the russians to understand this is not going to be something that we tolerate. So you just continue to show
resolve. Continue to show where the United States is not willing to budge. Then can you play ball with the russians in other areas where there might be some overlapping. The russians, again, they understand strength and we have a better relationship with them if they understand where the resolve and hard lines are. Trish sounds like a strategy. Rebeccah heinrichs, thank you very much. Thanks. Trish nfl Players Kneeling Again and President Trump is needling. He said they should stand proudly for the National Anthem or lose their pay. How is the league going to handle this . How should they . Burgess owens has some ideas. He is next. He challenged her to a debate to hash out the issues. Now democratic socialist alexandria ocasiocortez is comparing his offer to catcalling. What is ben shapiro saying . You will find out because is he here. Is he only here. We will see you right after this. Business news and analysis. For two times faster absorption so you can have worry free nights, and wake up feeling fresh and free for a free sample visit tena. Us and its also a story mail aabout people and while we make more ecommerce deliveries to homes than anyone else in the country, we never forget. That your business is our business the United States postal service. Priority you trish might be preseason football some nfl players are in full game mode when it comes to protesting the National Anthem and President Trump is already tackling the issue. Lets go right now to Fox News ChannelTrace Gallagher who has the latest for us. Hey, trace. Hey, trish. There were a dozen games last night. Three involved National Protests including jacksonville jaguar players staying in the locker room. Then the tampa bay bucks game robert quinn raised a fist like he did last season and Dolphin ReceiversAlbert Wilson and kenny stils each took a knee. Being a part of this protest hasnt been easy. You know, i thought i was going to be by myself out there. And today i had an angel with me with albert being out there. And, you know, im grateful that he sees whats happening and he wants to stand up and do something about it as well. And for the steelers
eagles game the Eagles Malcolm jenkins and raised their fist. Jenkins says he is trying to get the conversation going and not waiting to see what the league does. You may recall back in the spring the nfl said players who kneel or sit during the anthem would be fine. When the union balked at that the nfl suspended the rule. Now it appears the league is leaning back in that direction saying and im quoting all player and nonpersonnel nonplayer personnel on the field at the time are expected to stands during the presentation of the flag and performance of the anthem. Personnel who do not wish to do so can choose to remain in the locker room. And the president , as you noted certainly hasnt changed his stance tweeting, quoting again be happy, be cool. A Football Game that fans are paying so much money to watch and enjoy is no place to protest. Most of that money goes to the players anyway. Find another way to protest. Stand proudly for your National Anthem or be suspended without pay. And the regular season is one month away. Trish . Trish thanks so much, trace. I want to get right to my next guest former nfl player Burgess Owens right now. The author of the new book why i stand. Sir, good to have you here. What do you think about this right now . Hi, trish. Trish what does the nfl need to be doing in your view. Trish, the focus right now is on these players. I think we need to go further than that. We have an organization that the last three years now should have gotten this right. Keep in mind they lost over 20 of viewership over the last two years. Capped out at 13 billion. Lost tv revenue. They cant sit down and figure out a way to make sure that the employees, people that work for them protect and respect their brand. There is something more to this than meets the eye. This is what i want people to understand. At the same time you have a Commissioner Being paid 40 million per year. Only 10 of that by the way is guaranteed. The rest is based on incentives. Projecting here capped out
here 13 billion. Projecting 9 years from now to be 25 billion Around The World. With foreign nfl players in china and france and mexico. This is not by accident. These guys understanding theyre leftist globalist and thats all i need to say about that. Trish Leftist Globalists. Come on. They have benefited from the opportunity that they have been given. They are talented athletes. They have worked hard at their athletic craft. They have excelled at it. They are making a lot of money and they are Leftist Globalists . No, no. Not the owners. The players. Trish im talking about the players. No. The players basically young men who have been brought up in these socialist environments. They have never pledge the flag. Never said a prayer. 70 of these young men dont have fathers unlike the generation i grew up in. They will be used and abused and discarded. They will lose their careers. Have their brand to follow later on is these owners that understand this game. They understand the profitability they have Around The World. They want to make as much as they can. They dont mind using black players to get there. Trish i had not thought about it that way, mr. Owens. Thats an interesting viewpoint on it to me, Roger Goodell, like ought to be thinking about ratings. Ought to be thinking about ticket sales in the u. S. It is an american sport. And the majority of his profit was are still from the United States of america. And if you have got americans saying i dont want to watch this anymore. Im turning it off because i dont feel like these guys out there on the field have any appreciation for this great country we live in, then thats going to hurt your business. Well, you would think so. But, understand, goodell is not like the goodell in the past or al davis. Its not about america. Its about how much profit globally. They see themselves as the new soccer league. A world sport. Not an american sport. Trish is it that popular overseas . When you are talking about 25 billion in profits over next seven to nine years they see a way of getting there we have to understanding thats just the way these people think. Trish let me ask you this, are they afraid Roger Goodell and Team Owners Afraid of players walking off the field and thats part of what is motivating their lack of willingness to clamp down on this . Trish, if you think at the nba they feel the exact same way. They dont do it because they have rules and regulations and they know the consequences. The nfl this is the wild, wild west. Let these guys and kids, not kids, younger men do whatever they want to do because they are not putting in place parameters. Trish i have to leave it there. Alexandria ocasiocortez accusing conservative ben shapiro of catcalling after he challenges her to a Debate Tweeting i dont know a response to unsolicited requests from men with bad intentions. We couldnt get her but we certainly did get ben. For some reason, they feel entitled to one. Whoa. We called alexandria ocasiocortez and asked her to come on the show she is yet to respond. You know who did respond no other than ben shapiro for his first interview since that tweet. Ben, its good to see you. First of all, quickly. Trish she is making news with you here. Quick comment. First of all, how dare you cat call alexandria ocasiocortez by inviting her on your show. How dare you, thats sexism in action there. Trish apparently. What do you think of that though . To use that term, which, you know, to remind everyone, a woman walking down the street and someone, you know, whistles or something. Thats catcalling. How is what you did asking her to have an intellectual debate on the actual issues, how is that in any way relevant or similar to a cat call . Catcalling must be very weird in queens. I dont know construction worker Standing On Street Corners Shouting to women
hey baby you want to have hour long discussion about Trade Policies economic Vest Success Neo marks ix economics. It gets strange in her district apparently. Some folks on the left jumping to sort of intersectional defense in which anybody who requests a discussion or debate must be evil by their very nature. Right . Im a man, therefore im catcalling her even though as an or