tv Mornings With Maria Bartiromo FOX Business August 23, 2018 6:00am-9:00am EDT
down 1 half of 1%. residents are preparing for biggest threat in decades, new picture in space show how massive the storm is, investigators in iowa are working to figure out on the immigration status of the man accused of killing mollie tibbets gave false name and president renewed immigration. >> we need the wall, we need immigration laws changed, we need border law changed, this is one instance of many, we have tremendous crime trying to come through this borders. we have the worst laws anywhere in the world. maria: latest developments this morning, meanwhile the saweddia ramco in doubt today, the oil giant putting offering on hold, the kingdom it's insisting it is on track but media say it's
congress'ed on going public. plus, security pullback, apple says it violated data collection policies, fallout later this hour. joining me to break it down fox business dagen mcdowell, wall street journal page editor james freeman and the president of maslansky + partners lee carter. >> great to be here. >> good to be here. maria: how are you in. >> good, hoping we get good news on trade, maybe we will stop fighting with our friends and maybe even get along with china a little better, we will see. maria: day two of talks. dagen: major companies are look if you're going to get hit with auto tariff and you're a foreign manufacturer who does employ americans, they are putting plans to lay off people. if they look tariffs on autos do go into effect, big companies and small companies take
preemptive, everything that we do should be for china and not u.s. manufacturers and allies. >> both on nafta side and china side there's reason to think we might be approaching some kind of resolution, we will see, i think people maybe even more immediately on nafta thinking you might get some kind of an announcement but -- and i think, you know, we have been talking about historic bull market, if you want to see a stock rally -- maria: get méxico done. >> yeah. méxico done without new sand in the gears of north american trade, without an expiration date on it, without screwing up dispute resolution process. that could be really great news for investors but we will see. maria: a lot coming up on that front, certainly coming up, joining the conversation the president of the kansas city
federal reserve the here. senior member of armed services committee james is here, chairman michael milkin, he's here in studio, join us for special interview. all that coming up but first top story, fox news out with polls revealing what voters are thinking, top two issues for voters the economy and health care, when asked who voters hold responsible for the current state of the economy, 44% gave credit to president trump and the republicans 44% to the president and the republicans, james, what's your take on that? >> yeah, i think this is one issue where the president polls very well, when you asked approval, he's still under water. he's above 40% on the economy. i would say maybe preserve a little more than 44 in that poll in terms of policies we have seen, tax cutting regulation,
restraint, but basically this is what republicans want to run on and should run on. dagen: only positive job rating is on the economy, that's the only issue that he has a positive rating on. maria: i'm surprised it's not more on foreign policy. dagen: immigration he gets 39% approval, 57% disapproval. health care 36% approval, 55% disapproval. so i'm surprised it's not better than that. and actually how people rate the tax cuts, i don't know, lee, if this is relevant or not, but they rate tax cuts most than obamacare. >> yeah, i think it is really interesting how things are stacking up and if you look at the parallels right now to how the generic ballot is looking, the republicans are losing ground on the generic ballot again, things were looking good for republicans, they lost about 8 points in generic ballots depending on which polls you're looking, i'm concerned for republicans right now as you look at numbers. yes, he gets credit for the
economy, only 44% are giving him credit versus other places. i would also be interest today see if you asked, are you going to give democrats or republicans credit, i don't think that people are giving republicans credit for the economy, i think they are giving the president and i think that's going to have impact on republicans going in the midterm as well. maria: surprising given the fact that rollback in regulations and tax rates have boosted economic growth, 4.1% gdp in the last quarter, yesterday we talked about atlanta fed, and yet these numbers seem low. dagen: inflation still in check, that's really what should be translating but to be -- to clarify what i was saying, so the gop tax law at 40% favorable rating is less popular than obamacare 51%. >> yeah, i think people like the results even if they don't tie it to the tax plan and i think part of it is that democrats
have been very effective in -- in per saying people that -- maria: that it's crumbs. >> there's nothing in it for them. >> one of the things that's fascinating how people are reacting right now despite the fact that all indicators in pocketbook they'll go, people say they feel better economically right now than they did two years ago, the bottom line is people are still nervous, i don't know if ptsd from a lot of market corrections in the past, i don't know if democrats have persuaded them that things aren't going to last, things will soften soon and this is rally or covering up for other fundamental flaws but a lot of people still think this is temporary and won't be long-term. maria: there's the question of trade, the u.s. levying additional tariffs on $16 billion of chinese goods at 25%, china is responding with their own set of tariffs on equal pament of -- amount of american products, this is the
uncertainty. >> this was well telegraphed. next tranche of tariffs, maybe even 25% rate, that's still up in the air, but that would hit even more consumer goods, computer parts, luggage, just to name a couple of things, that's going to -- that will be felt by americans whether they are consumers, it would be felt by americans, manufacturers that even use some of these parts to go into manufactured goods, so, again, it's what's down the road, the issue, big question mark over auto tariffs, whether they go into effect, at least that report out of commerce department seems to be put on hold at the moment, whether -- auto import or national security risk. [laughter] dagen: down the road and you will see, back to my earlier point, you will see businesses start to act preemptively and
the messaging of this has been poor out of the white house, they begin to believe that will go into effect, they will take preemptive action and lay folks off, period or raise prices. maria: messaging on trade? >> it's inconsistent. i don't think we have seen the same kind of consistent messaging on fax reform like we have here. there's a lot of uncertainty, a lot of americans still you see about 60% of americans are saying i see the tariffs as negotiating strategy but that's softening people are starting to say what's going on, i'm concerned, a lot of people who should be our friends are implicated, a lot of uncertainty, is it going to have impact on the goods that i buy. i think that the administration needs to step up here and make people understand the long-term vision a little bit better because the idea that tariffs are taxes on consumers is something that is starting to infiltrate. maria: they will be articulate
on the issues of china and the fact that china as been steeling intellectual property, people understand that. whether or not the tariffs are the answer to get that going. >> i think we have to point out the 16 billion, a lot of tariff announcements, they do kind of strength claiming national security for steel, auto, but this as you point out was about chinese intellectual property theft legitimate, right, so even if people can disagree how to address it, but i'm hoping it's not a long-term deal, i'm hoping it's a short-term deal and we get deals on nafta and china and i think the reason there's been a mixed messaging because this is a debate within the administration that you did not have over tax policy. dagen: debates like a fight and played out not just behind the scenes but we have seen it percolate, bubble up like tar
bubbling up, oil bubbling out of the ground, like texas tea. but to that point, the walk doesn't completely match the talk on china because they've done this administration has done a lot of things that don't hammer just china, it hammers american manufacturers, american consumers, that's the central issue. people always tweet and you can tweet away that you don't like my dresses and that i should be patient, be patient with the white house, patience eventually runs out with the american people. maria: a big win happens if we do see another deal on the books like méxico. dagen: biggie. maria: we would hear details of a deal with méxico today, thursday, we will see, the president of méxico is in place until december 1, you have to wonder if you'll be able to get a deal in méxico before the new president comes in which is not until december, so we will see. retail was big this week, we get
another retail reporting today, alibaba reporting fiscal first-quarter earnings, trade disputes has to have impact on company like alibaba, that's where we may very well see the impact? dagen: i think it's the news of sale of giant retail nester the united states that are astonishing, you go back to wal-mart, fastest quarterly sales, target posting best quarterly results in more than decade, i think it was in 13 -- best results in 13 years in target. maria: that has to say something about the consumer right now. dagen: absolutely. right, james? i didn't mean to interrupt you. >> we are seeing an economy rising in the united states, retailers benefiting from that, you're seeing an economy slowing in china and you would expect that would hit alibaba's results. dagen: maybe poll indicater on
how they feel about the economy. lee: i think it's fair, you have to look at people to see how they are feeling, a lot of indicators that things are good and the question is who do they give credit. maria: short break, breaking news out of paris, two people have been killed in knife attack, we have the latest coming up next, and then a flop at facebook, social network data security app pulled from the apple store, apple said it violated data collection policies, the fallout next as facebook shares trade down a quarter of a percent this morning, back in a minute.
has details, cheryl. can he recall cheryl details from local paris police, good morning, two people killed, one seriously injured after man attacked pedestrians with a knife in small town west of paris, the two killed were attacker's mother and sister, local media is reporting that he shouted, police reportedly shot and killed the suspect, there's been a number we should say of high-profile terror attacks in france in recent years, not big effect on french market this morning but we are keeping you posted for any new details on that now back to this part of the world in hawaii, they are bracing for hurricane lane, president trump approving declaration, wind up to 150 miles an hour, i will give you an idea of how big this is, look at the view from space, most powerful storm to hit hawaii since 1992. >> i was here for 30 years ago
and i know how it can be and i'm concerned because even if we dodge it there's going to be a lot of rain, a lot of strong wind and i'm expecting, i'm fearing damage for my house. cheryl: residents across the big island are rushing to stock up on gasoline, food, emergency supplies, main while airlines are allowing passengers to change plans without penalty, military aircraft are being moved out of area. saudi arabia is reporting saudi's amco will be postponed. preparations for ipo have run into headwinds including where the ipo actually trade which exchange gets big price, saudi arabia has been looking to diversify away from traditional source of revenue which is oil. wall street journal says that it can sell a stake to china.
all right, facebook data security app has been pulled from apple's app store, apple says the service violated data policy, reportedly tracks and analyzes uses activities outside of facebook apps, meanwhile new study say that is google is collecting data even with android phones aren't being used. the university found google android phone passes data with google server, 14 times an hour, shares of facebook are down about 2% for the year, shares of google parent alphabet are up 16% so far this year. they are watching, they are tracking, maria. maria: even when the phone is not on or the app is not open, incredible. cheryl: even if the browser is open, they're tracking you. maria: amazing, thank you, cheryl, disney offering hourly workers a major perk, cashing in, chris hemsworth highest paid actors, number one wasn't even
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but our trade deals particularly with china needed to be addressed and they haven't been. so i think the president is doing the right thing, yes, it's going to cause turbulence in the market, but it's never a good time for it. maria: you have seen big impact on the banking sector. you're talking to us today about the small and regional banks, tell us about the impact from the rollback in regulation from part of the president's policies? >> we think the president and members of congress including 17 democrats in the senate, 33 house members, democrats in the house who voted for regularly to unleash the economy, maria, for every hundred thousand dollars our bank spent, 1 million less that we lend in the community. so i think regularly will help strengthen our economy and seen that happened since passed and signed by the president. >> let's talk about loan growth
and i'm specifically wondering how much is the deregulation encouraging it versus how much is the trade concern discouraging bank customers? >> james, look, to maria's question and your point, you know, i know the fed has to, you know, look at fed rates and monitor that very carefully, i know they're concerned about inflation, they also have to be careful not to put a wet blanket on the economy, so rising rates slows down loan demand as small businesses and medium-size businesses start saying, hey, maybe i will hold back on the loan right now. we certainly don't want to do that, this economy is roaring, we haven't had gdp numbers in a long time in the last 15 years so we should be very careful and cautious how we proceed forward, our banks are ready, they are ready to continue making loans and looking for the customers who qualify to make those loans.
dagen: the fed is going to stand pad if they keep slapping tariffs on all imported goods and slows the economy, you saw that in the fed minutes yesterday, so, again, you might get what you wish but for the wrong reason. >> dagen, look, we are very concerned about that but as i said earlier, i think the president's move on trade especially with china needed to be addressed, we've kicked the can down the road, we have swept it under the rug and there's never a good time to address but hopefully cooler heads will prevail between our country and china and an agreement will reach soon. maria: you did op-ed titled credit union shouldn't get a free ride, what's your take against credit unions? >> this is not bank versus credit union, it's about ending corporate welfare for the big mega credit unions, in 1994, 11 credit unions over a billion dollars. golden one credit union,
19 billion-dollar credit union in california got naming rights of the sacramento kings nba arena for paying $120 million over 5 years, is that not what profits should be doing? i'm a veteran, maybe it's over $90 million competing against regional banks as well which investors follow closely. should that federal credit union should be tax-exempt, should a family of four pay more in taxes than 90 billion-dollar credit union, they sponsored draft day on espn coverage spending millions of dollars, that's not what congress intended for nonfor profits, now the snl industry were tax exempt. it's about ending corporate welfare and, you know, i think navy federal, we are talking about 15% of the credit unions, mom and pop credit unions like united method -- methodist,
leave them alone. maria: what do you want to say about florida? >> there's a lot of things exciting things happening, a lot of new yorkers moving there. [laughter] maria: loss of tax writeoff is sending people moving. >> in our constitution we do not allow income tax so florida has about 900 people a day moving in, we are growing like crazy, but i think we are doing smarter this time, maria, not the crazy building that we did in '05 leading up to '08. there's much more control and a lot of exciting things. a lot of hedge funds have moved, offices to miami into south florida, so we are very excited and, of course, the foreign investment continues in florida especially from the hemisphere which is always a good thing. maria: all right, boom times in
florida, alex, good to see you. >> thank you very having me. maria: alex sánchez, the president of the kansas city federal reserve will be here, esther george, do join us for that. facing justice, disturbing details from mexican national. two felons escaped from jail injuries officers in the process, all the details right after the break alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. stay at la quinta. where we're changing with stylish make-overs.
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25% tariff. dow joans industrial average, nasdaq and s&p 500, not too far from where it finished yesterday. did not stop the market from setting longest bull run on the record. >> we have the greatest, longest bull market in the history of our country. we are doing better financially as a country than we've ever done before. maria: in the nine years since bottom, s&p 500 has soared 323%, there's the numbers right there. ftse is up 1 and a half points, cac quarante in paris is up 3 points but the dax index in germany down 22 as we continue to see earnings crossing the tape. asian markets mostly positive with the exception of hong kong which is down 1 half of 1%. president trump is calling for
immigration reform, new fox poll think how important immigration is. plus, teeing up for thanksgiving, tiger woods mickelson to face off. mr. big shot, forbes with highest paid actors, wait till you see number one, we will tell you about it coming up. first story half an hour, new details in mollie tibbets, arrest of christian rivera, abduction and murder of tibbets have made lighting rod, despite past claims the company did not use a federal e-verify system to review the mexican national, instead had used a different older system through the social
security administration. the farm owner revealing rivera had used false name and identification to pass the verification test and was working at the farm for 4 years under a different pseudonym. rivera being held in 5 million-dollar bond and next court august 31st, next guest deeply impacted by illegal immigration, mendoza mother, thank you so much for joining us, condolences with you. what does the story mean to you? >> it's been a four-year process for me since my son was killed and i watch the immigration debate heated up when there's a heavily publicized situation like this and then our elected officials keep allowing it to go on back burner, i don't think if
this is an election year, i don't think if you're being reelected, our politicians in washington need to stand up and make the changes necessary to keep american citizens safe and stop using this as an election tool because american lives are not something to just throw away like this and every time they rush to protect the illegal aliens for the crimes they commit, they are stepping over another dead american body's. maria: how do you think this can be fixed? >> the daca program should be done away with, there are criminals in daca program. we have over 900,000 convicted illegal felons rooming our street waiting for deportation, we need a secure border, being in a situation, i see the stories that are not on mainstream media of illegals who
are back over the border for 15th, 22nd time and they know when they get deported they'll be able to come back here and, you know, it's not only the killings it's the rains, it's child rape epidemic going on in north carolina, there's assault, identity theft, as you know, mollie tibbetts, what we are finding out there. an american's life, elected officials, fellow americans' life that they are toying with and doesn't matter to them what is happening to them. we are becoming collateral damage to support their agenda and i'm tired of it and i am forming angel families and we are having a rally september 7th in dc and we are speaking out, we are not going to put up with this anymore. >> ms. mendoza, james freeman tat wall street journal, again, sorry for your loss, i'm wondering has this experience
sort of turned you against immigration of all types or do you think you'd be amenable to a reform that allowed immigration but had more vetting of people for potential criminal activity coming in? >> i've never been against legal immigration ever, i am against illegal aliens being present in our country harming american citizens and as we know a lot of these people who are here committing these crimes and killing americans, they have just come over our southern border, they don't have ports of entry, how are we going to vet the people who are in our country, we can't. >> there's a lot of folks who are watching who might be on the left or might disagree with immigration policies and they say that that these kinds of policies on immigration are nonhumanitarian, we are not being fair to all immigrants by labeling them just this way, if you think that there's no way
that you can vet them, is there anything that you can do to start encouraging more legal immigration while discouraging or letting out the folks that don't need to be here. >> we need secure border, down in southern arizona, i went down there and had pictures taken and posted them, it's a bob-wired fence, that is it. the only thing that they show on mainstream media is big beautiful walls, you know, but there are lots of areas throughout arizona, new mexico and texas that are bob wire fence and can get through it in two minutes and be in the united states, so there's no way that we are vetting the people that are coming across here, just recently five people found dead in desert in new mexico, this -- this is a humanitarian issue, these cayotes and human smugglers and drug traffickers, they are bringing people over here, leaving them in desert to die, we have to start the flow
and make sure that our country knows who is coming here. every other country in this world demands that and just because we are america and we are great and we are loving people, welcome people to illegal immigrants doesn't mean that we will put americans in danger. dagen: can you name politician whether it's a local or national one who actually steps up with action rather than just talk on this? i will even point to omnibus spending bill where congress with the republicans in charge, they had the ability to withhold federal funds from sanctuary cities, the very places in this country that harbor these illegal immigrant criminals and they didn't do that, can you name one politician who's more about the walk than the talk, so to speak? >> congressman steve king from
iowa, 100%, but, you know, the sad thing is once things start getting rolling, the aclu files lawsuit, everything is tied up. you have so many proillegal groups that are fighting the exact thing they are elected american officials should be doing and we need to find some way to stop these frivolous lawsuits from happening and let us move on with business and let us start protecting americans. maria: president trump, of course, renewing call for immigration reform. he did this in the wake of mollie tibbetts tragedy, here is what he said. >> we need immigration laws changed, we need border law changed, this is one instance of many, we have tremendous crime coming through borders, we have the worst laws anywhere in the world. maria: sounds like ms. mendoza you find all that to be true but it's basically political football.
>> yes, absolutely. and, you know, like i said, americans have become the collateral damage in this game that the politicians are playing and just -- just like, you know, watch what happens in the next few weeks, this is going to come up with fevered pitch because unfortunately mollie tibbett has joined hundreds of thousands of fellow americans who have, you know, had their life ended this way, but guarantied in a few weeks when this topic settles down the politicians will put it once again back up on the shelf and start on rhetoric on how much they hate trump and let's find out what else he has done in sidelines instead of doing job they were elected to do in washington, d.c. and this is why the american people are crying foul, it's the swamp, they're not really there to take care of the problems and the issues that they were elected to do, it's become like the national inquirer in dc, stop it. stop lying to the american
people that you're doing the job you're not doing the job you're elected to do and we are fed up. >> i guess on the possibility that the swamp might end up somehow tumbling its way to a compromise, seems like one option would be the wall gets built but people who were brought here as kids get to stay, i know you don't like daca generally but i'm wonder if there was -- as part of that there was an effort to say people with a criminal record are leaving, they are not going to be protected, do you see that as a possibility because to me that seems like where you might actually get a deal done? >> yes, absolutely and i want to make it perfectly clear. since my son's death my might has been against illegal alien criminal aspect in the country and fighting about thely --
lineancy. you see way too often, courtney, husband and child's killers, killed husband and two children and given two years, american citizens would not have been given two years, this is where my fight has been lined. i know people who have been here and don't have a criminal record, yes, immigration reform needs to be happening to make the process a little easier for them to get in there, apply for this, prove they are contributing member of society, not burden on welfare, food stamp system and let's help them become the citizens that they want to come, as far as illegal criminal elements, i'm tired of open-door at our border and allowing them to come back in and committing more crimes. maria: many people are, mary, you make very important points,
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escaped inmates, cheryl casone with the details, cheryl. cheryl: that's right, maria, police are searching for david mosley and matthew price, escaped by spraying bleach in eyes of worker and physically attacking another. mosley was in jail for theft charges. price was in for several crimes including burglary. disney hopes the gesture will improve its relationship with the city which has been strained over tax incentives and subsidies, disney is anaheim's employer. disney is offering incentive to employees as the job market tightens up, offer to pay tuition for as many as 80,000 workers to take online classes this fall, initially invest $50 million into aspire program and 25 million a year after
that, shares of disney up 4% this year. finally there is this, tequila has sent george clooney to top of paid actors list, earnings $239 million, a large portion of clooney's cash came from selling casamigos company. action movie heros dwayne johnson and robert downing, jr., chris hemsworth, jackie chan. scarlet johannsson made $40 million. maria: misleading because it's about liquor company. cheryl: same thing with jennifer anston, endorsement deals. all the water she's selling. dagen: that shows it's effective. you remember that. [laughter] maria: thank you, cheryl, coming up teeing off the high stakes
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condoned alleged abuse they fail today take sufficient management action and not perform as appropriate role models for student athletes. >> my role is to set a good example and i did not live up to the university's standards. jared: both meyer and smith suspended without pay. it's official, the day after thanksgiving november 23rd, tiger woods and phil mickelson will play round of golf one-on-one for a purse of $9 million in las vegas, titled the match, it will air on pay per view, distributed by at&t, we don't know how much it would cost, tiger and phil will be both mic'ed up. bob wiley has been mic'ed up, star of hard knox and most recent episode gave take on the importance of players stretching. >> stretch is way overrated. did you know world war i, world
war ii, all the guy that is fought in the war, right, they did push-ups, jumping jacks, sit-ups but none of the fancy thing. they won 2 world wars, do you think they were worried when they were running across normandy while stretching? let me see. you ought to be kidding me. [laughter] jared: bob wiley is his name. dagen: play it all morning long. [laughter] jared: new star. >> is that a real coach or was that an actor hired to play -- jared: no, that's the real coach. [laughter] lee: spend a weekend with me and my stepson, put him right in
line. [laughter] jared: great stuff. dagen: put a band on. maria: more of jared sports, fox news headlines 24/7 or radio siriusxm 115, quick break, even teens think they use phone too much. get this, we will tell you about the new study that says just that, next hour right here in mornings with maria.
same. talks between the countries entering a second day in washington and the white house is doubling down on its calls for fair trade. >> we would like to see better trade deals for the united states. the president wants to see free, fair and more reciprocal trade between other countries, particularly with china. we will continue those conversations. maria: markets this morning are flat. futures indicate a fractional move with the dow industrials up 1 point and the nasdaq down 4 and-a-half. this after a mixed day yesterday, the declines for the dow and s&p 500 not stopping the bull run from becoming the longest bull run on record. global markets this morning look like this. the cac is up 7, the dax index in germany down about 14 points. in asia overnight markets mostly higher with the exception as you can see of hong kong, hang seng index down a half a percent many bracing for landfall, hurricane
lane barreling towards hawaii. residents are preparing for the biggest weather threat in decades in hawaii. capitalism versus socialism, new fox news polls show how americans are feeling about a potential shift in the economy and the results may surprise you. trouble for technology, a new you the dstudy shows even teensy they're on their cell phone too much. a new hotel is set to open in ohio as the first beer themed hotel. joining me to break this down is dagen mcdowell, james freeman and lee carter. great to see everybody this morning. >> great to be here. maria: a lot going on. >> i'm ready to check into the beer hotel. i'll be at the bar. [ laughter ] dagen: that's all you've got? you have the floor. so much going on in the last three days, that's all you've got, you're going to talk about beer. >> i'm cautiously optimistic that there's an agreement with mexico as early as today. maria: you think we'll get an
announcement on a deal with mexico sooner rather than later? >> i hope so. i think so. maria: i think you're right. they wouldn't keep saying it if it actually wasn't close. it feels like this new incoming president has a better relationship with president trump than the former president, the current president whose term is over december 1. >> looking at the polling numbers, we need a win like this. i think the president knows that, despite all of his confidence, that they've got to get something done. this has to be sa be a priority. maria: this will be a big deal. they're talking about a handshake right now. they can't get a deal until the new president starts, and that's not until december 1. >> the time line is actually kind of rough here. this is getting dicey because of the time required under the agreement for congress to review whatever deal the president strikes. unfortunately, it could go into amylos term in mexico.
the first step is getting the negotiators to come together. maria: this will be a big deal if we see a deal. joining the conversation, ester george. and i'll sit down in an interview with michae my millik- michael milliken. a lot to say with him coming up. he's done an incredible amount of work on health care, particularly prostate cancer. when i first met him, i went to one of his first conferences on prostate cancer. what did he do? he said i'll give you money, doctors, i'll donate to this cause, only under the condition that you share all your research with other doctors. he forced -- it's very competitive. you can't get written in a research journal, you can't get donations until you're written up in a research journal. you don't get in a research journal until you get the money. he said i'm not giving money until you share it.
as a result they shared research and they moved the knee dealt on prostate -- needle on prostate cancer. dagen: you will face cancer in your family. you should listen to this interview. maria: we have a lot to talk about with him. first, our top story this hour, a new rift with china, beijing is responding to president trump's latest tariff on $16 billion worth of chinese goods, by placing equal fresh tariffs on u.s. imports from crude imports, steel, cars, medical equipment, all getting taxed. joining us now to discuss is robert kuhn, he's the author of "how china's leaders think." thank you for joining us. what's your take on the latest news out of the u.s. and now china retaliating? >> the latest news is not as important as the overall structure, what we expect to see is nothing unexpected. what we have to do is really look at the total picture. people talk about trade war and that's why we have these
tariffs. trade war in terms of the deficit is really a very complex and not the most important issue. the trade deficit has to do with a lot of intermediary products that get charged in that have components coming from south korea or japan, a great deal of service money that china pays for students and travel in the u.s. not count. it's complicated. americans benefit from the trade deficit because we get cheaper products at better quality, financed by other people, chai noose in this case. there are five big issues that the sophisticated people are really concerned about. they're concerned about opening markets in china. they're concerned about intellectual property protection. they're concerned about cyber security, industrial espionage. they're concerned about forced technology transfer and joint ventures. and finally, the subsidy the chinese government of technologies of the future. maria: is tariffs going to change any of that?
>> tariffs will get peoples' you attention. tariffs are a significant suboptimization. companies are making decisions and supply change, et cetera, that will have long-term implications that will cause the entire world to be less efficient in delivering prosperity we need in the future. we need to look at these five issues. china is make progress on some of these. they are opening up markets. maria: that's true. >> we have to keep focusing on that because that's good for the chinese economy as well. chinese economists tell me privately that that is good for china because china needs nor competition in its own markets in order to make chinese enterprises more competitive. maria: interesting. very interesting. >> the combination of what u.s. companies need in opening markets is also good for china. >> this is really hopeful news here. i know earlier discussions with the administration, there were times when the chinese government would not acknowledge
the problems related to intellectual property theft, et cetera. now you think this is a regime that understands it needs to change the terms of trade? >> it's not that i think. i have firsthand knowledge. take i thin intellectual propery protection. they've set up special inlength wall property courts. limited now. they're pilots now. shanghai is very strong in this area. they are really focused on this. this is good, again, for china because china wants to be inknow innovative. it's the number one priority in terms of the economy. in order to achieve that, they have to have intellectual property protection. many of these things that america wants to force, which is good for american companies, is now also good for china. that's the hope of the future. maria: alibaba just reported earnings, they missed expectations. the revenue was a beat. the stock is moving, it is up 4% on alibaba right now. my issue with all of this, robert, is that i don't know if
tariffs are going to actually change behavior of china in terms of their theft of america's i.p. is tariffs going to be the thing that gets china to say okay, let's stop stealing. they won't even admit they're doing it. >> you put a lot of confidence into that one sentence. dagen: she's event. >> we have to look at each of the pieces. first of all, this is recognized as an issue. tariffs get everyone's attention, although tear they're terribly suboptimized. economists think they're bad. we're talking about it here. we're talking about the issues. china when they were admitted to the w.t.o. was truly a developing country. some of the same ways of thinking and rules, china has maintained for almost 20 years. what that means is that china has to have a new way of thinking about itself and this attention is forcing that. so in each of these categories of concern, we talked about
intellectual property, great progress. has a long way to go. it's uneven in china to be sure. but it is making progress. in industrial theft, three years ago in 2015 it was a much more serious issue. china and the u.s. faced it. they dealt with it privately. it is substantially reduced. it's not completely reduced. it's an area of focus. i want to focus on the positive which is the first opening markets, china will be opening more of its markets. that's the key to solving the problem for both cup tries. maria: certainly within -- countries. maria: certainly within five years. you will be allowed to open an auto company within five years. great insights from you, robert. the tariffs taking a toll on the american boating industry. gerri willis is covering that story in orlando, florida this morning. jerry, good morning to you. gerri: good morning. looking at regal marine, this boating company in orlando, florida, the floor here you see
people start early at 5:00 a.m. let me tell you, they're pumping out 2,000 boats a year, these are all recreational boats, priced from $35,000 up to $700,000. and here's the story in this industry. they are being hammered, hammered by retaliatory tariffs imposed by the e.u. and imposed by china, imposed by canada and mexico, the e.u. tariff, 25%. so imagine you build a boat here on the floor for $100,000. that's going to cost $125,000 by the time it hits the shores of the e.u. i want to show you here this boat we're standing on, 60,000 boat is beautiful, it's amazing the work these people do here. it's not just the retaliatory tariffs at issue here. it's also what's happened to aluminum prices, steel prices, prices for engines and other equipment that are used in these boats. this company has had basically all their orders from canada and the e.u. canceled as a result of
these retaliatory tariffs. we'll be talking to the ceo moments away. but i've got to tell you, this is pretty amazing sight. it's an american company, an american business, third generation family owned and operated and an amazing story of the work they do. but under fire now because of these tariffs. maria, back to you. maria: really interesting, gerri. thank you. coming up, a hurricane approaches hawaii, the latest weather forecast as residents are bracing for winds that could surpass 100 miles an hour. then fighting phone addiction, details on the shocking new study monitoring how much teens use their devices. back in a minute. ♪
bracing for hurricane lane. we have details from the weather center. adam, good morning. >> it's a big storm, currently winds at 145 miles an hour, enough to make it a category ca. the outer bands are starting to hit the islands. it's stretching closer to honolulu. it's on the move. we will pay close attention to this the next couple days. you're looking at a category 4 storm currently but notice as it moves closer and closer, by the time you're parallel with honolulu, that's getting into your friday evening, down to a category 1 storm. it is weakening. but it is a sharp turn here and that's a big part of this story because that makes it a lot harder to track. you notice a quick turn out to sea, where will the storm system turn? we have to pay attention to this. these are tropical models. each one of these, a different potential track. a couple of these make landfall before it makes the turn. others turn it quicker.
the closer it gets to land, the worse the situation could be. that's something we'll wait and see in the next couple days. it's going to get close and it's going to be a big storm. maria: thanks so much. coming up, i'll sit down in an interview with michael milliken. he'll weigh in on the economy, president trump and health care. a lot more coming up. plus this, brewing up a new business, we take a look inside the world's first beer hotel, later this hour. back in a minute. ♪ xfinity mobile is a new wireless network
however you use it, your wireless bill is about to cost a whole lot less. ask how you get xfinity mobile included with your xfinity internet. so you just pay for data -- by the gig or unlimited. saving you hundreds of dollars a year. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. yeah, i got some financialbody guidance a while ago. how'd that go? he kept spelling my name with an 'i' but it's bryan with a 'y.' yeah, since birth. that drives me crazy. yes. it's on all your email. yes. they should know this? yeah. the guy was my brother-in-law. that's ridiculous. well, i happen to know some people. do they listen? what? they're amazing listeners. nice. guidance from professionals who take their time to get to know you. maria: welcome back. capitalism versus socialism, the new debate. a new poll reveals how americans feel about socialism.
the results may surprise you. take a look at the numbers, 36% of americans think a move towards socialism is a good thing, up from 20% in august of 2012. joining me right now in philanthropist and the chairman of the milken institute, michael mill kevin i would say you're one of the ultimate capitalists out there. thank you for joining us. >> when i think about capitalism i think about free enterprise and the opportunity that people have to succeed. and the promise of america was this american dream, a chance to succeed based on your ability, not your religion, not whether you're a man or woman, not where you went to school, not where you were born. and that opportunity is key for everyone to feel participation in society. it's really the free enterprise system and our country we have millions and millions of entrepreneurs, as they do in
china and around the world. they're going to create the jobs of the future and the businesses of the future. maria: does it surprise you we're having this debate about socialism. a good op ed in the journal, says how to argue with a young socialist. it writes this, socialism would increase the government's power and resources while making americans more dependent on it for goods and necessities, food, he clothing, because it's about the government giving everything away for free. >> i think the challenge is you have these periods of disruption, technology and what has changed. let's take the media industry. when i first met you a few decades ago. maria: yes, it was. >> you were 15 years old. i was in a meeting with steve ross and we were thinking about okay, what about the future of the dvd. well, the storage capabilities, it took two dvds, both sides. would a person watch a movie, would they put a dvd disc in, watch it, get up, turn it over, take it out, put another one in,
watch it, turn it over. today south korea is projecting that they can download a movie in one second. maria: wow. one second. >> the same thing occurs in medical. so when i was putting forth this idea, what should eat, how you live, what you drink, lifestyle, et cetera, was affecting your health. the answer 25 years ago was proven. well, no one can prove it. you couldn't sequence. computers weren't fast enough, just like data storage. well, today, 25 years later, for less than $1,000 and an hour we can sequence your micro biome and we can know how you're being affected. health today in many areas, whether it's heart disease, whether it's cancer, the two major causes of death, or other diseases, you can alter how your genes are expressed by changing your micro biome and you can
change it in a short period of time. we can now measure something that was unmeasureable before. so the first sequencing cost over $1 billion. today, $800,000. and maybe some day it will be $10. this data will allow us to dramatically change however single person is treated with not just precision medicine e. measuring your disease and then trying to figure out what works against it, but precision health, seeing how you're living your life, changing what you're eating, the whole food chain and seeing if that moves you into prevention. maria: this is such an important point you're making. i want to drill down on it a bit. 25 years ago we did map the whole genome. we learned a lot. we learned that smoking causes cancer. we changed our behavior and smoke less. we learned how diabetes and heart disease can occur and we changed our diet. we haven't learned as much about
the brain, alzheimer's and tell us what has taken place in the last 25 years. we're living longer. the longevity trend, tell us how we got here. >> first, people don't realize that the number one growth engine for the world's economy in the last 200 years has been medical research and public health. so we have doubled life exec taken siglifeexpectancy on the e century. in 1900 the average life expectancy on the planet was 31 years of age. one in five americans lost their lives before five years of age. today you moved to 62, 63. one of the things when we look at the growth in asia has been the dramatic increase in expectancy from low 40s to mid-70s in just a couple generations. so that is one factor. we did sequence the genome. it was done in 2003, completed.
but we didn't know -- we weren't sequencing micro biomes. the cost of $1 billion, no one went to the doctor and said please sequence my cancer, my disease, before you treat me. so today you know today, for example, that 28% of prostate cancers have a certain mutation. but 90% of all colon cancer has that same mutation. so if you can effectively deal with that mutation in prostate cancer, you're pretty much going to eliminate colon cancer as a cause of death. so we used to think of all these cancers being different. now these mutations appear. it seems naive to assume you can have a mutation that can only go to your breast or only go to your prostate or your colon. now we see for example in prostate cancer, the mutations appear in 81 other forms of cancer. so when you solve them for
prostate cancer, this mutation, you'll solve them for other cancers also. maria: we spoke earlier, i was saying what you've done for prostate cancer in terms of forcing the doctors to share the research -- >> that has been done and faster cures for all diseases. it's amazing what collaboration can do and teamwork. maria: also technology has been incredible in terms of moving us forward. technology not just in health care but technology in jobs and in creating a new life for yourself. we're going to get to what you're doing in terms of the center for the american dream. tell me what you're seeing in the jobs market, truck drivers are needed, you're seeing technology replace certain areas. what would you say the status of the jobs market is? >> when you look at a study, and you say why are people thinking about socialism. we could look at venezuela and how that resulted. but they're scared. they're concerned about the future. and this country was built on the american dream and the
chance and opportunity to try. and try again. and so they're concerned. when you look at what type of jobs are going to be replaced, it's directly related to the price of that job. the more you're being paid, the less likely that that job will be automated. second, the more education you have, if you have less than a high school education, you have a 40% chance probability that that job you have could be eliminated through automation. a college degree, we're under. people are scared. they're searching for some strong ground and safety and what about their future. that is the challenge we have in a free enterprise system. we have to come forward and let people know they'll have an opportunity, we're going to forge retraining, we'll find different models so you don't get out of college with hundreds of thousands of dollars of debt and so this is the challenge of our free enterprise system. can we find solutions.
we've had three traumatic things that have occurred during the last two years of this administration. one, i owned a company that was like a for profit ypo. 10,000 ceos. we asked them what were they interested in. one, they wanted to know the administration believes in a free enterprise system. two, they could not deal with 15 different regulatory agencies. they're a small business. they're creating most of the jobs. they can't take a different person every day coming to tell them what to do. that has been changed. and three, they wanted an evening of the tax code for partnerships and corporations, similar to other countries and they got that. i would say four, kind of icing on the cake, these opportunity zones to rebuild our inner cities of america. and encourage people that we should create jobs in these areas. that groundwork has energized
millions of small businesses. maria: they're getting access to capital. i would argue this rollback in regulation coughs be even more impactful than the lower taxes because a small business can't deal wit 15 different regulator. let me ask you about what you're creating in washington, that is the american dream center many tell us about it. >> well, when i think of my life and how it changed, i wanted to run our space program after sputnik. i went to berkley. all of a sudden i'm home during the summer, august 11th, 1965 and the watts riots occurred and i met a young african american man who told me he wasn't part of the american dream. his father would never have access to capital. he wouldn't because he was an african american. so i went back to berkley and switched my major to finance and said okay, we have to solve this problem. we have to have people believe if they have ability and ideas that people will afford them
access to capital. so it's now 53 years later. and as i think about that, this challenge in america is do they have a chance at the american dream and people are questioning that today. you have studies showing that not just in america but in europe, people think that they will not have as good a life as their parents did. now, that was always different. they would have a better life. so we felt we needed to create a center to energize people to reinforce the view that everyone has a chance at the american dream and this american dream is a chance based on your ability, what you could achieve. now, the elements are important. education is important as a framework. health care, if you're not feeling well and you have short lives, you're not going to have that same. and lastly, there were two others, one, the access to capital and the role it plays
and then the role of the entrepreneur. that individual with a new idea that changes the world as we know it. those are the four pillars of this center. and we want to open it to every single person in this country to inspire them with stories of thousands of people that they have that chance also. maria: that the american dream allows you to work really hard and achieve success no matter where you come from. >> well, that dream, that american dream is alive and well all around the world many when you look at a study of people that say they have $1 million or more in china, 41% of them in the latest poll want to move to the united states. so whether you're in africa or asia -- and this might be the rawanda dream, not just the american dream. maria: are you comfortable with what's happening between the u.s. and china in terms of the trade dispute? >> they're trying to work out what the relationship is.
in china if you step back for thousands of years, you never protected i.p. if it was a good idea, the em pourer want -- em prie emporer d everyone to have it. some of the great companies in the world, alibaba are in china. it's a little more mutual and hopefully we'll find a solution very soon. maria: it's good to see you this morning. >> great to see you. maria: so many words of which . the future of the fed, ester george weighs in on the escalating tariff tensions, next. you're headed down the highway when the guy in front slams on his brakes out of nowhere. you do, too, but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges... how mature of them.
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china is responding with equal tariffs on u.s. goods. futures this morning are flat. we are looking at a lower opening, down 7 points on the dow industries, the nasdaq down 9 points. this after a mixed day yesterday on wall street. the dow industrials gave up 88 points, s&p 500 down 1 and the nasdaq composite picking up 30 points, a third of a percent. in europe this morning european indices are mixed. dax index in germany is fraction nailfractionally lower. asian markets finished mostly in the green last night with the exception of hong kong. the u.s. issued a new travel advisory for those headed to mexico. we will tell you why, coming up. a chopper crash caught on camera, look at this. police released video of the helicopter accident caused by high winds. and put that phone down. a new study shows teenagers think they are on their phones too much as well. plus, a bed and brew, the
world's first beer hotel and brewery opening in ohio. we're going to show you all that coming up. first, our top story this half hour, the future of the economy, edward lawrence sat down with kansas city federal reserve bank president ester george. edward, over to you. >> reporter: i had a wide ranging interview with kansas city's fed president. she talked about how she believes the federal reserve is on the right path with the gradual rate highs increases, also how the yield curve alone is not an indicator of a recession. she addressed the president's comments about the federal reserve. she talked about her assessment of the economy right now. >> i think the economy in the aggregate is doing well. i describe it as firing on all cylinders and we're at a good point right now in the economy which has allowed the federal reserve to begin to remove some of the stimulus that we put in place years ago. >> reporter: what do you see as the risk factors in this economy? >> always risk.
i think for me i characterize them as upside risk, which is boosting growth as a time when we have policies, and on the down i look at the uncertainty coming from the trade discussions and where will those come out. we look at what's going on in emerging markets to see some of the challenges they face. so you look at both sides of that risk equation. i think right now they look balanced. but by the time we get to our september meeting you have to reassess. >> reporter: how close do you think we are to normal? >> it's a good question. it's one my colleagues and i continue to explore. ouour objective is to maintain e long run growth of the economy as best we can and trying to understand when we get to normal is a function of knowing -- remember, this policy acts with lags. each time we have made an interest rate increase, that will flow through the economy
after the fact some how. that's why you focus carefully on what do we see on the data, what do we see in the trends and what are we talking to people in our regions about in my case to understand how that policy is affecting people and the economy. >> reporter: how do you feel about the yield curve as an indicator? >> i understand why people look at this. we should look at the yield curve. history tells us when the yield curve flattens and inverts, we've experienced recessions. obviously no one wants to do that. so the question is, what circumstances lead to that inversion and why are we seeing a flattening yield curve. that's where i think the debate is right now. trying to understand what the dynamics are in the economy, remember, we are still at negative real rates, so even though that short rate's been coming up, trying to figure out what's suppressing the long end of the curve, is it because investors believe that the fed's gradual approach, managing inflation he low means longer term rates won't be as high,
does it mean that because we still have a large balance sheet and other major central banks are continuing to add to their balance sheets that that could be so suppressing that. i don't know the answer to that. that's why we pay careful attention to the yield curve. it's not our sole objective as we go forward. >> that's not something you look at solely. >> you can't look at it solely. remember, what i have to look at is the mandate congress gave us. you look at lots of signals and the yield curve is an important one and i think my colleagues ant i are going to keep our eye on that. >> reporter: the inversion, i mentioned inversion, that's one of the indicator force you os fu of a possible recession. >> it could be. reprre-- predicting a recession isn't a good business to be in. >> reporter: the u.s. is imposing $16 billion worth of tariffs this week. that would make $50 billion of tariffs on chinese products alone. we also have tariffs on other countries like the european
union, canada and mexico. how big of a concern are these tariffs for you as the economy grows? >> so this is an area i watch very carefully. as i told you earlier, i consider it to be a downside risk from the standpoint that it's hard to gauge. if this is all we see, then maybe we would conclude that we'll work through the system and it won't affect the economy the size of ours. on the other hand, if it looks like this will continue, if there's some persistence to these discussions, if it leads businesses -- leaves businesses feeling uncertain, that could flow through to holding back on investment or less investment. that's something that i want to watch carefully to see if that will show up in the data at some point. >> reporter: this week president trump told reuters he was unhappy with the fed chairman, jerome powell, because of the rate hikes. the president's office of management and budget director in june said the federal reserve puts brakes on the economy just as it's getting good. what do you think about these
comments? does it concern you when you hear these things? does it affect you in terms of your decision going forward? >> here's how i think about that issue. expressions o angst at a time wn there are higher interest rates is now unique for this administration. we have seen this before. we know higher rates cause adjustments in the economy. what's important for the public to remember is congress understood this tension might exist between a central bank that was responsible for the money supply and those that have other angles in the economy and so they put important firewalls in place that would allow an institution like the fed to keep its focus on the public interest and the long run nature of the economy and that's what we're doing and that's what i continue to do. >> reporter: ester george will be a permanent voting member on the federal open market committee starting next year. she said she listens to everyone from farmers to business owners
to workers, also politicians, but she said at the end of the day it's the federal reserve that will decide what's best for the monetary policy in the u.s. maria: that was a great interview. thank you so much. edward lawrence joining us there in new york. a stark warning for americans, details on the new travel advisory from mexico that you'll need to know. brewing up a new business, we're taking you inside the world's first beer hotel, back in a minute. ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage.
maria: welcome back. the state department is issuing a new warning for those traveling to mexico. cheryl casone has the details. cheryl: the warning urges all travelers to cancun and other tourist spots to exercise extreme caution. the advisory comes after eight bodies were found on the streets of cancun over the course of just a few hours. this all happened after midnight on tuesday. none of the deaths occurred in cancun's beachside hotel zone. this is a popular mexican resort town. they've seen an uptick in violence over the last few months. in april, 14 murders were reported in 36 hours there. the little rock police department in arkansas releasing video showing a police helicopter crashing to the ground due to high winds. it's wild. this footage shows the
helicopter hovering unsteadily above the takeoff platform in a parking lot. then it hits the ground. the pilot was seriously injured. luckily, he's in stable condition. then there is this. teens and their cell phones are rarely that far apart. even teens say they're getting too much screen time. according to a new survey, half of all teenagers admit to heavy use of their phones. a quarter say they feel loanly or -- lonely or upset without their cell phones. the problem is actually even more serious among young girls. the study also found that two-thirds of parents have concerns over the effects of too much screen time for their kids. finally, there is this. a beer lover's paradise, the world's first beer hotel in columbus, ohio. it's called the doghouse. each room comes with its own beer taps for immediate drinking when you wake up and a fridge full of cold ones for the shower. you can watch beer being made
from rooms that overlook the brewery. you can walk down to the hotel lobby for a beer paired breakfast because beer is for breakfast, right? so far, more than 500 nights have been booked. i think it will be a huge hit. maria: all right. cheryl: where is it? >> it's in ohio. maria: ohio, the new beer hotel. james said he's checking in. >> i'm not too ready to sign up for the breakfast package. that's a little aggressive for me. i can learn to like it. dagen: beer does a body good if you want a belly. >> my uncle used to call it the breakfast of champions. maria: shooting for the moon, we'll talk to a film maker, steve barber, about his vision for an apollo 11 crew statue, next. ♪
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i'm going to step off the land now. that's one small step for man, one giant leap fo for mankind. maria: an iconic moment that changed the world forever, neil armstrong taking mankind's first steps on the moon. now a documentary film maker is looking to memorialize the event. joining us now is steven barber, the ceo and director of vanilla fire productions, the man behind the push for this staw chew. the tak statue. good to see you this morning.
tell us how this came about. >> i shot a movie in the capitol 1 of years ago about the marines. i had seen this statue created by a gentleman named george londine. i was blown away by it. i was the most beautiful statue had i ever seen around the world. ten years later i was hanging around with buzz aldrin. we were talking about the 50th anniversary. i went on a bike ride. i thought what a great opportunity to memorialize these guys. i called nasa and i said would you be interested in 12 moon walkers, that was my original vision. nasa was like we can't do that legally. we think the kennedy space center might be interested. that's how it got started. i was on a bike ride, thinking about the 50th anniversary, thinking about the statue. my father worked for general more toe, he was an engineer. it came together. the kennedy space center loved it. i met with the artist.
we flew down there and met with him a couple weeks ago. right now they don't want to pay for it but i'm going to pay for it. i'm going to find somebody to basically embrace the most amazing technological achievement in the history of mankind, the moon landing. >> i think it's fascinating timing with a lot of people focused on the renewal and interest in space with the space force. how are you going about securing the funding? you say you might do it but -- >> well, i sold gandhi his first set of brass knuckles. how's that? i'm a sales guy. that was before the hunger strike. i saw our good friend michael milken, i dropped a package off at michael's house. he want todd be part of the space program. michael, i can help you. ma hi y.i've raised $4 million. we have one of the most nobel film companies in america. maria: you're a documentary
mill film maker. you're putting together a film based on this campaign. what should we expect to he see. >> archival footage of apollo 11, the as stro astronauts. i'll show the statues being made. george londine and his brother mark are brilliant artists. brilliant. the number for this is $750 to put a naming right. these statues will be here for decades after we're gone. maria: look at the privat privatization of space travel. they are looking to change the game completely. what's your take on what's happening in terms of the privatization, private companies getting into space and even the trump administration ramping up as well? >> it's also inspiring. you go back to 1962 when a young
president kennedy was at wrights university on september 12th and said we choose to go to the moon, because it's not easy, it's hard. that was so inspiration as. 400,000 people came together and this president is doing the same thing. maria: steven. congratulations, we'll be watching. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders.
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maria: welcome back. good thursday morning. thanks for joining us. i'm maria bartiromo. it is thursday, august 23rd. your top stories right now, just after 8:00 a.m. on the east coast. trade tensions, the u.s. and china tariffs going into effect overnight on $16 billion worth of goods. talks between the countries entering a second day today in washington. markets are flat this morning. futures indicate a fractionally higher opening for the dow and s&p, a lower opening for the nasdaq, after a mixed day yesterday as well. the declines from the dow and s&p 500 not stopping this bull run from becoming the longest bull run in history. dow industrials yesterday down 88. global markets mixed.
european indices are higher by a fraction. cac up 7 points, dax index up half a point. in asia overnight markets finished mostly high wear the exception of hong kong, it was down half of 1%. president trump weighs in on the impeachment threat. watch this. >> i don't know how you can impeach somebody who has done a great job. if i ever got impeached, i think the market would crash. i think everybody would be very poor because without this thinking, you would see numbers that you wouldn't believe, in reverse. maria: we'll have more of the interview with president trump coming up. bracing for landfall, hurricane lane barrels towards hawaii this morning. residents are preparing for the biggest weather threat in decades. we're tracking the storm. startling new details in the murder of mollie tibbetts this morning. the illegal immigrant who has been charged allegedly gave his employer a false name and identification. the latest coming up. we have the latest developments
here as well, the saudi aramco po is now in doubt. the oil giant is putting the deal on hold. the king of saudi arabia is insisting the ipo is on track. first it was veggie burgers, now fall flower steak, -- cal on fo dagen mcdowell "the wall street journal" james freeman president maslansky and partners lee carter, help with watermelon. dagen: not only awesome looking, good for you. there you go, and -- -- about to vegan. >> let's not go ahead carried [laughter] >> downtown from trump impeachment?
i think crash a strong word i think reasonable to expect, that given the trump bump we have seen since election, it is if investors this can would market turn away from policy you probably would see. >> particularly with nancy pelosi said dagen going to raise taxes, if the -- the a democrats are able to flip house in november. >> we had an interesting debate in the greenroom about this caution i said the market fell 19.4%, in the couple months before the ken starr report released 1998 made gain back between september and late november even as clinton was being impeached the par market came back james pushing back saying but because, idea is all of these policies would go away they have given a firm footing to our economy, it is raised stock prices raised everybody's sense of well being in this country. that would be that would be really, really hard on stocks and the economy. maria: that is right. >> if people thought a turn
away they think pence rolls along policies status quo may be not much change. >> regulatory environment what was it up to -- >> hitting records -- 90,000 -- >> equivalent to 15 equivalent to 15. >> too much, where you have seen then, this is a debate, because we've seen this reduction in regulation, but the government still regulates a lot you were talking about with milken people don't think next crazy idea coming from washington confident they know the landscape and can invest. >> i think crazy ideas come from washington nancy pelosi, raising taxes on everybody rolling back he corporate tax cuts somehow good for prosperity. nation. >> forget tax cuts 22.0 if house phillips does have a
point. dagen: you beneath build that i spend your money better than you spend your money. >> pay your fair share, all right coming up, escalating trade tensions beijing feeling bite on u.s. tariffs 16 billion dollars chinese goods hillary vaughn with more. >> good morning. the chinese delegation meets with officials from u.s. treasury here in washington, trying to negotiate some sort of trade cease-fire or he negotiation president trump and president xi are raising the stakes because tariffs in effect today on u.s. to china and china to the u.s. the president this morning, in interview on "fox & friends" saying that he thinks, this trade back-and-forth with china has -- had the effect that he wants over the past 90 days. >> china, by the way, has gone down 15 trillion dollars. when i came in china was a dominant force now like me very much i get along great with president xi but i said
we can no longer give you 500 billion a year on bad trade deals. >> round matching u.s. tariffs on chinese imports china 25% tariff will hit 15 billion dollars products coal medical instruments waste products, crude oil steel -- says just plain negatives defense to u.s. attacks, saying they have no choice but to retaliate but this fight is continuing to escalate u.s. also looking at additional 10% tariff on 200 billion dollars of chinese imports the president has said he is willing to consider taxing all imports from china. maria: thank you so much hillary vaughn at the white house want to talk more about that board security the killing of 20-year-old college student mollie tibbetts is renewing tensions about security at southern border this morning authorities charged christian rivera from mexico illegal immigrant first-degree murder used
different name fake id applied to work at iowa dairy farm said it cleared rivera to work through e-verify system here is border security in that exclusive interview. >> i think so sad, building the wall already started, we have spent 3.2 billion, on it we are asking for 5 billion for this year's funding wall is going up a lot of people don't know it will. i would like to build faster but dealing with democrats is very tough immigration laws are horrible. >> joining me right now senior member of the senate armed services committee oklahoma senator inhofe thanks very much for joining us. >> nice to be with you. >> you were at border recently your reaction to the developments this morning where are we in terms of that wall? >> keep in mind that we went to you are talking to the right person i have gones a builder developer on border 20 years i know the border the
patrol what they are doing i think you have to look at the overall picture here that is we just came back from a president who was inviting people to come into this country and come into the country, legally or illegally didn't make any difference keep that in mind between last two years the obama administration, it increased the applications for asylum by 200%, now the case you are talking about right now, yeah, we know that we have a lot of criminal elements that is coming through, we have no way of stopping it, and one of the reasons i went back down there maria, because there are some easy solutions to the problem. and i have one that we are introducing actually today, that we are working on now for about three years. maria: this is the bill aimed at easing the immigration backlog tell us about it. >> well, what it is, historically, and during the last administration, intentionally they are allowing people come through
you took border patrol will tell you saying that they come through they made application they want an application, for asylum to come into this country, and so they would say fine we will give you a court date, and be sure to show up, well you know two weeks from thursday court date came they didn't show up so vast majority of people didn't do it they just were into our society and out there now. as i mentioned increase about 200% last two years, easy solution that is first step in applying for asylum to this country, is to determine there is a credential fear that an individual has, that determination should be made before they cross the border, because if once they cross border in united states we can do that in consulates in embassies, then at the same time, anyone who does not show up for the next step, in asylum, create a criminal bench warrant for those individuals. for some traffic ticket
something we know who they are, steps -- >> what about catch-and-release. >> well, that is what they were doing during the last administration. and that is -- and the border patrol didn't want to do that they were forced to do it all they could do once is one came through they got them out there they have to turn them over to some detention center no xaz for detention centers stand in waiting line essentially released that has come to a close. maria: a fox news poll shows voters priorities into the are determines 10% say immigration most important 5% view border security important the economy, health care, these are the most important issues for voters what does this mean to you senator into midterms. >> well, means to me, that this president -- look. i know a lot of people really don't like the president. a lot of media doesn't like the president stop and look at
three things describing what he has done, number one, look at the economy. it is unprecedented, where we are right now all the indicators are on our side number two, and i know this i have been ranking member on the armed services committee, what this obama did to the military, was shameful we are rebuilding the admittedly if this president's direction causing that, and the third thing is look at judges, changing judicial system quality people actually believe in constitution if those three things between three things i think the american people are going to say my gosh, good things are happening. maria: that is the thing the outcomes have impend very positive for this president and i think that is why detractors going insane over it don't want positive outcomes one of the priorities for this administration, certainly before the midterms is going to be getting brett kavanaugh confirmed are you going to vote why should judge kavanaugh. >> well, of course, are you kidding? of course i am, i had a chance to visit with him i am not a
lawyer, i let lawyers make those he determinations but i know that he is a very wonderful human being the things he has done, to help friends of his, he had a friend who died, in -- his widow every time something happening they need parents there, he drops everything, goes takes her kids to the events, he is just a warm wonderful person. >> there seems to be. >> he will we he will be confirmed no question about that. >> new pushback from left you do think you are going to have votes? >> yeah, we will have votes republican votes going to pick up democrats votes from endangered species over there, they are about six democrats running in areas where trump is very popular so there will be a bunch of them i would assume that will come over, and vote just for their own political future, smart to do that. maria: quick senator before you go your thoughts on what is taking place between china and the u.s..
is this getting to be a real trade war right now? >> you know we have gone through -- democrats administration republican administrations for decades now, ago in ever happens nothing changes this president decided we are going to take some drastic action, and i understand, that there is some problems i know we are -- a big farm state exports concerned about this i talk to them they say clean this up go back equal footing correct problem not corrected by democrats or republicans, this president is doing it will. >> thanks very much. >> thank you, maria. >> james inhofe. >> bracing for impact have wiee residents preparing for the worst as hurricane lane is closing in then hanging in the balance saudi arabia is denying reports this morning, that it is halting the listing of the state oil giant aramco details next.
. maria: this a deadly knife attack in france, cheryl cheryl with details headlines. cheryl: new details on this this happened earlier this morning, two people killed, one seriously injured after a man attacked people with a knife in a to up west of paris officials say two killed tweeshg's mother and sister isis claiming responsibility head is urging followers to continue fighting in audio file released by terror group, celebrating the recent attacks in canada and europe, it is unclear what was recorded we should say because there had been reports of his death, last couple years, hoo waye bracing for hurricane lane, the worst weather threat in decades, president trump approving a disaster declaration category four storm approaches i lands winds
up to 150 miles per hour -- big, look at the view from space, this is the most powerful storm to hit hawaii since 1992. >> i was, i was here for hurricane -- 30 years ago, i know how bad it can be i am concerned, because even if we dodge it will, going to be a lot of rain, a lot of strong wind, and i am expecting and fearing damage from my house. >> residents across big island are rushing to stack up on glean food emergency supplies airlines are allowing passengers to change plans without penalties. >> president trump says payments made o 20 two women by former lawyer michael cohen were legal adding payments came to him personally and not from his campaign. white house press secretary sarah sanders spoke to reports about it yesterday. >> he did nothing wrong, there are no charges against him and
just because michael cohen made a plea deal doesn't mean that that implicates the president on anything. >> then, the president speaking about the payment directly to on "fox & friends". >> did you know about the payment? >> later on i knew. later on. but you have to understand, what he did and weren't tan out of campaign finance a big thing much bigger thing did they come out pain didn't come out of campaign came from -- if you look at president obama had a massive campaign, violation but had a different attorney general. and they viewed it a lot differently. cheryl: take a look at cover of "time" magazine features a flooded oval office with president floating above the waterline. all right, facebook pulling security out from pap app store the project reportedly is tracking analyzing users,
facebook app, says it invites policies shares down 2% this year a study says google collecting data when android phone not being used an idle google smartphone open browser passed data to google server 14 times an hour folks screaming about this saying, two location services off moons i don't want to be tracked keep learning more about things that they didn't know about, now telling us, yes, we are look we are watching, it can. >> suitor of aramco ipo could sell a stake to china instead of going public. >> holy smokes a delicious smoked ham is vegetarian later this hour, back in a minute. ♪ feels in the spring turn from
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show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. maria: welcome back in the balance saudi aramco halting ipo maybe not speculation is not going public now. >> they did put out a statement i will get to that in a second but that is huge ipo, potentially two trillion dollars, putting in perspective two apples two trillion dollar ipo saudi aramco said contrary to some reports earlier that this public offering is not off the chairman also the saudi energy minutester with a statement government remains committed to ipo of saudi aramco when conditions are optimum will depend on favorable market
conditions downstream acquisition the company will pursue in the next few months. so -- they are not finished with the preparations yet we could expect a purchase to come soon, and maria, as mohamed told in you march there are question marks. .d. >> -- that is -- it will go public in the local market that is for sure we have not decided yet where going to list but we are going with a listing new york london hong kong or other plays. >> location timing was he slated this year big reason is china higher price of oil when crown prince bin salmon announced he planned to sell in saudi aramco oil prices 30 dollars a barrel now approaching 70 dollars a barrel 67.90 doesn't mean a zombie ipo, the other reason
it could be more likely ipo is china, "the wall street journal" reporting that pressured china could buy into the company exchange for supply contract saudi arabia oil exports to china are falling the same time russia and saudi arabia rivals and iraq are picking up slack this is election year that is politics and geopolitics on top of all this we've got plenty of shale oil in the u.s. we have to see what happens you don't want certain alliance forge in that part of the world. maria: right, when i first got back from saudi last year i was told by some sources that they wouldn't go public in new york, because they will be subject to lawsuits by 911 victims and families. because the congress now there is a law that they can they can sue the government of saudi arabia so that is why i was thinking ipo in new york maybe london.
>> london has requirements lengthy statement the chairman put out saying they are addressing all these things, there are other issues as well, but you know just to -- to get the -- the conditions right. >> wherever you want to list, public investors expect a certain level of accounting certain level transparency. this is has been a state owned enterprise for a long time the chairman is also the government energy minister i think that would be a challenge wherever they want to list. >> going to be a challenge getting to shareholders acting like transparent company as you say diversifying the economy alliance with china may be pour money as part of a feel into something else in china 20 get out of the oil -- more techie. >> what they are trying to do lauren thanks so much alibaba roerth quarterly earnings this morning on the move up 4 1/2%
maria: welcome back. good thursday morning. thanks so much for joining us. i'm maria bartiromo. thursday, august 23 your top stories right now 8:31 east coast trump economy breaking news initially look at jobless numbers out we've got initially weakly jobless claims 210,000 versus estimated 215,000 this is better than expected on jobs, president trump touting this as the best economy we have ever had. >> we have the best economy we have ever had. in the history of our country. and more jobs today literally today we have more jobs more people working in the united states, than ever before in the history of our country.
>> markets this morning are mixed take a look fractional moves upside for the dow s&p, nasdaq lower 4 1/2 points in europe, also fractional moves to tell you about european indices mixed ft 100 up three points cac quarante up 6 dacs down one, markets in asia most of the time higher overnight exception of hong kong, hang seng down a half percent alibaba reporting mixed earnings missed on earnings however, the revenue was better than expected stock on mover up 4 1/2% on alibaba shares in premarket, grab your fork may look like a ham but a watermelon smoked to perfection on set in a few minutes futures searching for direction ahead of open latest look at labor market jobless claims if he will to 210,000 latest week as president trump touts record on economy in interview this morning,
joining us managing partner ted oakley good to see you. >> hi. >> thank you so much for joining us this morning, are you buying stocks investing in markets, as a result of the backdrop in terms of of the economy and earnings? >> not particularly maria. we are applying things that give us a chance to lack at some things that got cheap for example, back in may when we had the 30 year bond 312, 10 year 312 ran in bought some consumer stays they have done well since then. we own various thing we don't buy anything based on on exactly what the economy is doing right now. >> what about the retail sector you just said consumer staples pretty good run all week how would you characterize the backdrop for retail. >> consumer has done well able to come back to retailers you have seen in walmart, et cetera. i suppose we take a little different look in retail for
us is a different kind of retail we own dollar tree, ebay, amazon, those types of retail. we don't go for box stores as much as the others. >> james freeman "the wall street journal," my sense is that you are not a long term bull on the economy. and i am wondering why i don't see this increase lately in corporate capital expenditures signaling that we may get faster growth for the long haul? >> well, it is -- it is on cycle as much as anything james i don't i am not totally negative we just have a little higher than normally have what happens is that you come to points in the cycle where everything is peaked, and when you get everything peaked everything full you can't be more full. you are where you should be not that you can't stay that way for the next year or two, but usually, that is not the place where then you take off
push to another level and i think that is we feel that is where we are now. >> you think we are at a peak because --? >> well if you look at peak profit margins peak labor, peak everything, you are at the point where and i -- primarily work with business owners, sold companies or business owners in business today what i find from them they are running well they are doing well there is not a question about that. but it is hard for memory to see how they can add up they can't find anybody to work for them can't get a move, on the revenue side because they need people and they don't have people. >> so a lot of voters that i speak with, despite the fact the economy is good despite the fact feeling all this they are very concerned about the markets just like you are describing and, yet, for years now, for three or four years talking about how this might be the end of the run. how do you reassure folks
where they should be going if you are saying that this is a peak, what should people do right now? >> well, for us, it is where we just we raised cash it is not a ton i mean we have 23% liquid, in stock account we run higher income accounts aggressive income stay with those we don't do anything differently when you can't find things that are really in the zone we run a screen that we really like of about 200 companies, and very, very few of them are in the zone where we want to apply them that doesn't mean they wouldn't be there, you know in the next six months or so that is what we look at try to find things that are in that particular value zone for us. >> ted this is dagen mcdowell. this is a story until the "the wall street journal" that bears noting. at the moment, record number of hedge funds and speculative investors bet on lower treasury prices, moved against
them yields fell now facing losses again this is the saw heard over and over again more than a decade that longer term interest rates, are going to spike, and you are going to have big losses, on treasury didn't happen what do you say? >> hmm, well dagen, if you look at our twitter account different things you will see we have been constitutional for lower rates. we if you look at the 10 year and 30 year rates they are exactly where they were six months ago actually 30 year is a little bit lower, in our income accounts we are long the treasury right now, we think the people and i know what you are talking about, the futures contracts all-time record. we just think they are on the wrong side of the trade. we look for by the time we get in first quarter of '19 we think those rates are no the the same they are today i. dagen: so you would still go long the 10 year with yield at 2.82%? >> well actually long 20 and
30. and we if you look at the 30 year bond, look at the rate on it, if you want to know where you haven't lost money has been in 30 year paper you really would have loves in the 2 to 8 year paper that moved gains you but the long paper and this is what people i think are in disagreement with the fed they are saying hey, we don't see any longer term inflation problems. >> let me go back to equities for a second you own amazon when do valuations start to bother you amazon obviously had incredible couple of years, this -- you have owned it for a while. >> yes, we have. what is your take on valuation here? >> well, obviously, it is an expensive stock relative to any sort of basic valuation used in the past you have to look at what kind of market share they have and that type of thing. i will tell you that when we get new money, we don't add quite as much as we have in older accounts that have it a
lot lower cost basis than we would with a new account, but we still have it. but it is just not as hay a percentage as it would be normally. >> anything you would sell right here? i don't -- i have to tell you -- >> it goes stock by stock for us i am not trying to hedge on that it is agent you have the that we look at various companies, and we think that a lot of the companies are -- are overpriced. but number we don't own the companies we have if we didn't like them would have already sold them will by now. >> thanks so much. >> yeah thank you. >> ted oakley retail this is focus this week, nicole petallides on the floor of the new york stock exchange with details there, good morning. >> hey. good morning maria so on the of names we have been watching a retailer, lbrands, can i start a alibaba revenue beat strong e-commerce strong cloud business areas they invested a lot squeezed profit margins
helped now ultimately with better-than-expected revenue beat increased 61% stocks up 4% on that one williams-sonoma revenue beat e-customers area there, increase as well, surfaced what analysts expected in fact we are seeing several analysts this morning, maria bear citigroup morgan stan yee raising price target stocks up almost 8%, turn this around to downside jeff reeves noting, deterioration in the fundamentals long rood for victoria's secret structural issues batting and body works one negative commentary stock down 46% this year ceo, victoria's secret ceo retiring, so this is the -- in fluctuation i should say, and analysts don't seem so positive you are seeing to downside i spoke with ceo and
couple things noting strong economy the tax benefits said very positive liking small mid caps huge, also immune to trade if you want to be defensive go into convert inland bonds you know a lot about as well what he has been saying this morning. >> nicole petallides on wall street the economy under president trump stuart varney weighs in a twist on watermelon check out this fruit dish looks a lot like a smoked ham, next. ♪ i know -- ♪ ♪ test.
>> okay. >> futures searching for direction this morning take a look markets longest bull run in history yesterday, of course, and we are looking at fractional moves today joining me host of "varney & company" stuart varney to weigh in good morning. >> good morning, maria. how many times have i said and i am sure you said the same thing political chaos in washington, d.c., but markets sold on keeping going up both you and i said that many many times i've got an explanation for it even if the president is impeached even if the democrats take control of the house, that is most important if they take control of the house, you will not be able to roll back the tax cuts, in the election campaign i am sure democrats will rail against
give away to rich corporations vow to retreat and reverse, those tax cuts, i don't think it can be done, you would need what 60 votes in the senate to roll back those tax cuts i don't think those votes in the senate are ever going to be there so you take the worst-case scenario for many, many people, that is the democrats take control of the house again, and you still don't have the worst-case scenario for the economy, will be a rollback of tax cuts that is my rather simplistic explanation for why we keep rallying in the face of political chaos. >> you know what if they do flip the house, markets i think will react so because going to be a lot tougher for this president to get policies through. >> stalled as opposed to reversed. >> propriety. >> the market won't like it i don't think it really takes a serious down turner. >> absolutely see you 10 minutes i will be joining us looking for forward to that. >> yes, you will look forward to it. >> top of the hour 9:00 a.m. "varney & company" begins with stuart coming up right after
"mornings with maria," but first there is this a vegetarian take on smoked ham. of the we are getting a testimonial of a watermelon taking internet by storm check out a cantaloupe burger too, back in a minute. ♪ ♪ ♪ . then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com it's a revolution in sleep. the new sleep number 360 smart bed is on sale now, from $899, during sleep number's 'biggest sale of the year'. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. and now, all beds are on sale. save 50% on the new sleep number 360 limited edition smart bed.
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horowitz smoked watermelon ham thank you so much looks so good i was questioning its hot watermelon how did this all come about. >> hot super weird we understand we have been smoking meats in restaurants well-known for smoked meats in new york a decade right now, and we just wanted to share something a little different for us we thought a little weird to serve a baked vegetable table looked like bleeding do same thing for thousands of years to veggies, fruit. >> can you tell us how you made this. >> we takes about five days to make we cured four days smoke it for about a full day. >> wow. >> a really day he will. >> smell incredible, here you have cantaloupe. >> our smoked cantaloupe this is the original rendition of our smoked mellon on the menu, and since we put this on we have been selling out of that every night.
amazing. >> wow you are seeing more interest in this because vegan vegetarian taking off. >> definitely on the rise. >> more about environment sustainability offer -- why not. >> exactly you going to cut that start with dagen because dagen has the -- what do you think? how is it. dagen: really delicious, my mom always told me not to talk with my mouthful, but -- you know what it is -- chew and get back to you. maria: you chew see how you cut this here look at this all watermelon, looks so good! >> i'm sorry we are not trying to make something meat we know not meat we make great tasting meat tried to make watermelon cool. >> smells really good what is the as you see that smells so good. >> we made a little bit of
watermelon gravy, make this with the -- watermelon drippings. >> no different than ham or steak, anything else, watermelon. >> watder medicermelon you are a lot of interest. >> we are incredible feedback on social media, business increased. >> how much does this cost what about the cantaloupe. >> mellon costs 75 dollars which is expensive we -- go it in advance takes a meat. >> it serves three to five people do a whole meal, 15, 18 bucks a person, no different than how we would do it for any other meat. >> are you chewing it. dagen: this is delicious. because it doesn't it is not -- because you guys smoked this, right? it has that -- that smoky flavor makes it savory not
like a dessert i am so i all in on this, because again, the point make my friends eat vegan restaurants i want to be able to go somewhere i can eat vegetarian or vegan. >> you can come in order watermelon or any night get cantaloupe burger. >> the cantaloupe lettuce looks like a burger. >> a hot ran of as you see butter lettuce caramelized onions fried onion as well. >> we figure pretty weird keep it as normal everywhere else. >> you guys vegans? >> we are not. >> you are seeing all interest in vegan, spoo we are seeing interest like i said we also we love smoking meat also care about environment want to do stuff that is more you know pro kind of helping the world, and we don't want to be
antimeat but reduce amount we are using eating. >> thank you again not about all of us preaching to each other just about like thinking about the -- >> a little bit about. dagen: i don't preach i don't tell people that i am not going to go out with you if not vegan. >> make something really, really delicious. maria: what are the other food items. >> working on recently this year almost won chauterie contest. >> for us about the watermelon fun doing it now but opening up door for us, trying to figure out or anyone else. >> we love it love it. >> new direction. >>. dagen: tell him how to say -- >> i am italian a name like
maria: welcome back. final thoughts from the all-star panel. lee carter. >> interested to the see aftermath of announcements earlier this week of michael cohen and others. every crisis happened to this administration democrats responded almost blown it up in a big way it end up benefiting the administration. i'm seeing whether or not it will blow up. maria: good point. james? >> i hope we get good news resolving disputes with mexico. markets tell me to curb my enthusiasm. hoping for good news. >> raise the issue whether the
president actually saying if i get impeached market would crash and people would be very poor. that is subject people will be debating and discussing beyond today. maria: that was some quote. watermelon and cantaloupe, delicious. great show. see you tomorrow. stuart varney we go. "varney & company" begins right now. stuart: good morning, everyone. the president defends the performance of the trump economy. in an interview with fox news he is heavily remoting the return to prosperity. faced a political firestorm the president goes on the offense latest economy. the latest pole show he has a political problem. fox poll reveals 11 point lead for democrats over republicans and more enthusiasm over democrat voters over republican voters. who would have thought this, obama care more popular than tax