not investing at the pace they were a couple of years ago. and ultimately are, that s a, you know, lead indicator. by the way, if we can get this trade deal done, both the u.s.-canada-mexico one and the china one, then i think businesses will start spending again. but, look, i m not one that believes that bull market expansions like we re in right now die of old age. they don t. they die because of policy leland: okay, you think about that. thises from wall street journal, a tight jobs market insulates a slowing economy and perhaps trump two. that brings up what does that mean, trump two? oh t-o-o leland: the president as well. yes. leland: the question becomes this, as we ve seen this massive expansion, we saw this last year, stock market dropped 20. recession was we could all see recession coming. you and i talked about it. by the way, the reason that didn t happen is because the fed finally took trump s advice and
interest rates. [laughter] well, first off, you know, just acknowledge the fact that the reason people are spending more money is because they have more money. they have bigger paychecks. they have and this is a great time to be an american worker. families are feeling flush with cash, and they re spending it. now, in terms of the fed leland: we ll get to that. but they tie in on this point. there may be record spending, which is what ellison talked about, there is also record debt. we re not talking about the national debt, we re talking consumer debt. the american consumers eau $14 owe $14 trillion. the government owes more than that but not much. is this cheap credit environment we re in where people can buy virtually everything they want and pay virtual hi no interest, is that dangerous in creating the same kind of bubble we saw in 2008? you know, maybe. but, look, we have leland: oh, there is a, there is a [laughter] a little pessimism in steve moore. look, i mean,
small distributers, you know? support the little guy, the little guys you add them all up, they re bigger than the big guys. so think about the little guys. laura: we hope that people will be enjoying what you have to offer. deb, thank you so much. i was looking at the pictures there of you pouring wine and teaching people. we look forward to hearing how you to after the holiday season, okay? thank you very much. laura: deb, thank you very much. thank you. leland: in the scene in hong kong this the scene in hong kong. folks waving american flags and singing the national anthem after a move by president trump to show support for pro-democracy protesters. you can imagine the chinese aren t so happy. we re going to let you know what they re saying coming up. to our military service members at home and abroad for all their hard work and sacrifice. we all sleep easier knowing you re out there
committee hearings, that he has his counsel there so we see a fair, open, transparent process. and i m going to wait and see what the recommendation is of the intelligence committee, the judiciary committee, and then i ll make my decision. you know, what ses so interesting about what the president is saying and what republicans are saying, it s the same thing we ve been saying for months: there s nothing impeachable here, this is a witch hunt. reporter: okay. as you know, democrats would like to have a decision made sometime before christmas. if we re going to impeach the president, let s get that done in the house. or if we re going to censure the president, let s get that done in the house. one way or the other, we should know by then if they do choose the foreman, that means we re looking at former, that means we re looking at a senate trial sometime in january which means a very interesting winter in washington. for now, back to you. leland: in february there s those iowa cau
the law. laura: absolutely. you know, when you see those images, i mean, they really are so just incredible to watch. the american flags being flown and being waved around in hong kong, and some of the protesters who were out there on the streets waving those flags had something to say. here are some of them on thursday. i think that we have no we are not strong enough to address the chinese government. and we have we hope american government can support us. we are here because we know the united states has [inaudible] for hong kong this morning, so we especially want to thank the united states citizens is and also the president, donald trump, for supporting hong kong. finish. laura: you know, a lot of people say that the move of signing those bills was a risky one but, obviously, leland, the folks of hong kong waving those flags