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tv   Cavuto Coast to Coast  FOX Business  June 14, 2019 12:00pm-2:00pm EDT

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course, soccer. [laughter] stuart: chile noon eastern time sunday. neil, all yours. neil: you think the world is going to the dogs, look at ipo, dogs too but cats too, animal toys online, multibillion dollar company, came public at 22 bucks a share earlier this morning, now more than $35 a share. my dogs love it. i'm done, sort of interesting reflection on where investors
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are placing value. we will get on that little bit later in the show. back and forth between ourselves and iranian over tanker attacks, they're saying it's not us, we are saying, yes, it's you. we hope it doesn't get to that and what could be happening this weekend. iranian tensions escalating as we speak. hillary vaughn on all of that, hillary. >> secretary of state mike pompeo, indeed, iran was behind yesterday's attacks on two tankers but iran foreign ministers say this is not true, the u.s. is lying, no evidence to back up the claim but there is because the united states military has video showing iran taking evidence from the scene of yesterday's attacks in this video you see iran's
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revolutionary guard removing an unexploded mine from one of the oil tankers that it hit yesterday, iran is denying that they were responsible for this but the president this morning saying iran was caught red handed. >> well, iran did do it, you know they did it because you saw the boat, one of the mines didn't explode and it essentially has iran written all over it. they want want the evidence left behind. i guess they don't know that we have things that we can detect in the dark that work very well. >> foreign minister tweeting response saying iran was behind attack. sabotage diplomacy including by abe shinzo and cover-up,
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economic terrorism against iran. pompeo saying that iran is lashing out and disrupting global oil markets because they want the u.s. to dial back its hardline stance that pompeo says has been working very effectively. the president also saying that the strait of hormuz, he says it is going to stay open and he made that very clear to iran as well. neil. neil: thank you very much, hillary. this coming from arab league chief saying that iranian reverse course right now, one big problem in middle east and it is iran, also saying developments in the gulf deepening confrontations and urges outright restrain. oil prices are up but not that much on this, we are keeping track of it, whether that has any other effect on this. i think it's being mitigated by the prospect of trade tensions with china continuing, in fact,
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china then -- first edward lawrence at the white house with what all of this portrays for trade talks. >> public officials in hong kong are call to go start delay for for reevaluation of fast track of new amendment for extradition to china is on, the amendment calls one to attention one-country two system philosophy that china has adopted. more protests scheduled for this week, past week protests turned violent and 80 people injured on wednesday. law is threatening hong kong's financial stature in the region. reuters reporting that tycoons are moving massive money,
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$100 million to singapore, chinese are telling to butt out, internal china issue. chinese ministry highlighting that hong kong is u.s. trading partner. >> hong kong's prosperity and stability are in the interest of the u.s. messing up hong kong will do no good for the u.s. and advise relevant party to respect facts and back off maneuvers to interfere in hong kong affairs. >> there are lawmakers here in the u.s. that are saying that they believe that this wrong what china is trying to do, the state department says they have grave concerns over this extradition amendment. now could complicate the u.s. trade talks at the moment the president donald trump will meet xi jinping, however, china refusing to confirm that that meeting is going to happen, neil. neil: do you think nothing comes, hong kong unrest as a
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reason? >> that trip is in question, we don't know if he'll show up at g20 summit. internally they can use that as excuse for not going but the president, president trump believes that president xi jinping is going to go because it's close to china and that they will meet. neil: he's threatening tariffs if he doesn't, right? >> the president will add $300 billion of import which is what's left of china importing under 25% tariff if there is no meeting or the meeting goes poorly. neil: edward, thank you very much. chinese are returning the financial favor to the u.s., the more we keep criticism on how they are handling hong kong protests the more they do to stick it to us, latest sign pulling from u.s. real estate saying that there are consequences for this type of talk. larry kudlow also threatened consequences of its own if china
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xi jinping doesn't meet with the president at the g20 summit even with xi jinping and unrest. secretary of state for political military affairs under bush 43, ambassador, very good to have you. >> hi, neil, thanks. neil: where is this going, easy sort of thing, large crowds amassing in the center of a city, you think square, 30th anniversary recently and now this, are the two similar or how would you describe? >> look, that situation shows us that the deal that was made when left hong kong it has been violated, the goal post has been moved. china is creating
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authoritarianism and we should never lose sight of the fact that freedom is the single most important thing that we represent, whether east asia or the gulf. neil: the chinese don't care what we think, they don't care how this looks across the globe much as they did 30 years before they became the super economic power they are today but that this might end quite violently? >> i don't know how it ends, neil, but my view of authoritarian regimes is the one thing that they care about is vulnerability, they are not legitimate, they are not there by the votes of all the people, there are 85,000 protests a year across china, small and large, so i think we have to be aware that the chinese number 1 and 2, 3, 4 and 5 priority is staying in power for a long time. so you could say that means they don't care, means that we have to have a policy that looks at where their achilles heel is and we understand lack of legitimacy
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and authoritarianism, oppression, if you can't think to themselves they will evolve at some point. so that's really our high card, is the freedom, the ability to run a country where people are free and can make their own decisions, it's messier but way better and that's what china is afraid of. >> you know what's interesting too, ambassador, i think at its core china remains a
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>> strategically and the goal is not to go to war with china, but to try to find a way to move forward so that they move closer to us, learn how to be a more of a free country, i don't know how we do it but the -- we can't have war and i hope that the president and xi jinping have a real conversation about that. look, xi is worried, he wants to be emperor for life, he wants a third term, he wants economy to
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be up and they will turn all the dials, all the money dials to help them get there. neil: it won't work like that in free country. we will watch very closely, ambassador, thank you very much. >> thank you. neil: preview of what's going to come up this weekend, obviously the chinese authorities, those that do bidding in hong kong have said that there shall be no public demonstrations, they are watching the crowds but the crowds aren't going away protestor plans throughout the weekend, live on this tomorrow morning 10:00 a.m. eastern on fox news channel following the developments half a world away because big impact here. some are saying uncanny resemblance is very scary and hope it doesn't repeat itself and maybe in this environment where china is economic power house 30 years on the verge of becoming one, what will sort of tame militaristic response, all bets are on, we are on it 2 hours tomorrow beginning at
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10:00 a.m. eastern live coverage from there, around there and everywhere, in the meantime, stocks still up this week, reflect all of the pensions, there's a reason for that, we've also got fox news contributor john layfield, john, welcome to both of you, alan, you hope calmer heads prevail n. the history in china that's not always the case but they're hoping that's the case, what if they don't, i don't want to give the worst case scenario, all bets are off? >> we had a healthy rebound and great reversal last week where higher weekly close. we were only 2% from all time high in s&p, it's been recovery that we have seen many, many times before. i'm standing in an interest rate and i'm looking above me, the market is pricing in half point out here in july, so that should be beneficial to the stop market
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and i think that could add to the upside, we all know what's out there, we've all lived there now for going on 2 years, i think we are coupled with the possibilities, like you said smart minds should do the right thing when it comes down to it in the end. neil: interesting, you look at the market and panicked about this, they are not showing it yet and i know you reminded me there could be black-swan developments, maybe what's going on in hong kong right now, maybe what's happening, you know, around iran, so either one, both of us could dislodge this? >> i think they could. right now look at chile ipo and lyft ipo. there's a lot of money chasing yield right now and you have emerging markets not been gone. germany has had problems with manufacturing index, you have
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brexit, china with problems aside from the tariff. the u.s. market, nasdaq are best places to get yield, masking a lot of things that are out there. there's a lot of fractures developing in global trade. now, this could be fixed but there's also potential downside to any of the factors much less if you have cascading effect, we could be for rough patch. neil: you know, alan, the worst things look the more it pushes them to deal with us, factories growing at slowest rate since 2002 and the majority has been softer than expecting, happening more rapidly than expecting and that will ultimately compel to keep things calm in hong kong and furthermore to score a deal with us, what do you think of
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that? >> maybe, let's remember that their gdp is at 6%, double what we do. neil: that's right. >> their numbers, backed off, stock market performed extremely well, better than ours in 2019. common sense should come into play at some point but what i'm encouraged by is we don't have specific objectives on what a good trade deal looks like, anything that we can come up with we can call it a win and we can move on and just claim victory. that could be very much a positive and the markets continue to do what they've been doing for the last 10 years. neil: let me flip it around with you, john, the better things look for us, seek out safe haven, the united states is that, has proven that and we benefit, our markets that is, what do you think? >> i completely agree with that. the place to go in the world right now, you don't want to go to china not because of trade wars, a lot of things to prepare for long trade war which could
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be a new normal but right now the best place to invest is by far the nysc, the nasdaq, there's just not competition out there as far as yield that is going on, and as much problems with trade war which could escalate, the best place by far still to be is the united states. neil: all right, gentlemen, i want to thank you both very much. the market down 46 points, this is a rather tame response. certainly you don't see it in any of the new offerings like the latest, of course,, online food provider, toys, my german britney, they love it. i don't know if they got a piece of this, they wish they had, it's up 11 bucks right now from 22-dollar a share offering. they're very happy about that. so there is that after this.
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i'll pass. neil: all right, the president is on defense over the foreign intel comments, blake berman is at the white house with the very latest on that, hey, blake. blake: hey, neil, a bit of a mess for president trump when he suggested that if russia or if china or foreign entity had dirt on political opponent coming up in 2020, if nothing else he
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would be all ears and open to it. the president is now walking back off those comments legally most likely that is not something one should do, that they should take that evidence or that information and turn it over into the fbi, past republican candidates said going to fbi is something that you should do or some say beneath office of presidency, today the president to takes 80 on -- 180 on it when he call today "fox & friends" and asked about the scenario. >> of course, you to look at it, how are you going to know if its fbi, report it to attorney general or somebody like that, but, of course, you do that. you couldn't have that happen with our country and everybody understands that. blake: the president has been receiving some pushback for doing the interview with abc news, it is, of course, neil the president's decision who he
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speaks, when he speaks to them, what kind of interview he wants to do but now they'll be a new person who makes a decisions at least part of the decision-making process with all of the media appearances, sarah sanders will be the outgoing press secretary, she will hold the post until the end of the month here and there's a big question as to who might fill her shoes, there are a handful of suspected candidates at this point but you could also say, neil, that the press secretary title at this point is a label at that and it's really more so an adviser to the president, sarah sanders has been close adviser to the president, we've only had a handful of actual press briefings in the last six months or so. neil: very way nice profile, young man. that was nice. you want your two little kids to chill so you can sleep f not there's always coffee. >> you know, i've been used to drink coffee until i had kids and now it's like, nonstop, send
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it over my way. [laughter] neil: there you go, they'll be plenty of other vises you pursue as they get older. [laughter] blake: i will leave that for you, neil. neil: don't ask, do tell. very nice profile. in the meantime former press secretary mike pence mark lauder with this, mark, it's a tough job being the press secretary in any capacity, more so with this president who is very, very focused on the message, how it gets out and whether it does get out with the people and the tradition that we are used to, t safe to say that part won't change no matter who replaces sarah sanders? >> one of the differences with this president that 90% of the mainstream media coverage is negative and i want cocontradict what blake said and i have respect for blake, sarah's number one job is never to do
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briefings, it is to deal with all of the messaging development and all of the responses that come out from the white house press shop whether they came out via e-mail, in other forms, just talking on reporters in the room or in her office which is something that i know so well, i spent quite a few hours every day in sarah's office when i was in the white house and most of that job is not about the briefing, it's more about dealing with all of the incoming requests and dealing with the various things that the president is also dealing with. neil: mark, i was wondering about timing of this, she telegraphed her interest, maybe that's indeed the case, a day after the controversial george interview, a week after the ill-time interview the president had here on fox that made him a little bit late to normandy events. would he blame her?
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all right. i don't know what happened there but we lost him there. again, this kind of talk has been dismissed by the white house but the timing is interesting coming over the last week with these two controversial incidents. in the meantime we are looking at dow down 39 points, chip makers particularly getting hit hard today especially over one big one, it's saying huawei ban will cost it a lot of money and right now the whole sector is losing a lot of money, more after this. introducing the first of its kind lexus ux
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neil: all right, broader than we thought, catches a cold because of huawei ban and the rest of the industry also sniffling and that's understatement, hey, jackie. >> good afternoon, neil, this is having spillover effect in the market today as you said broadcomm cutting sales guidance
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for about $2 billion citing china tensions and ban of doing business with huawei as one of the problems, one of the interesting things about this it's the company that can actually say this is what it's going to cost us and wall street is worried that the rest are going come out and say similar things so companies like sky work, microns, invidia, semiconductor was down just about 3% as well. huawei fell a lot yesterday, about 8% in the session after hours when this announcement came out, down today about 7% and estimated that huawei is more than 4% of broadcomm's total revenue. $900 million, a lot of money when it comes to this company, that ripple effect across the other countries as well and wall street broadcomm has to make cuts to continue down the line,
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neil. neil: jackie, thank you very much, in the meantime going from bad to worse, i'm not talking about what china is dealing, what's going on with hong kong, seeing its slowest growth. putting this in perspective their idea of slowing down might be a dream for us, if you buy the numbers coming out of china, john bossey on what impact the trade war, i guess we can call it a war having on them. >> you're right of having suspect of chinese numbers to begin with, somewhere between 6 or 5% rate is target for this year, who knows, maybe it's 3% or 3 and a half percent. we just don't know whether numbers are accurate from china but it's slowing down. some of that has to do with the tariffs, some of it has to do with the fact that china was on again, off again slowing down over the last year or so anyways and they are trying to stimulate the economy and some measures haven't played true.
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neil: all right, the import that were affected, they are getting less from abroad but not affecting exports which is obviously the sorts of contention with us, does this push them closer to a deal because the language and the threats they are using don't indicate? >> yes, good story. neil: saw that. >> exports are flat and not good for export economy like china, so you're right, import are down. they have all sorts of measures that they can still use to to stimulate economy. when i loved out there they would call them administrative measures, i think they still do, the central bank calling up bankers saying lend, make sure that you lend to stimulate the economy to push back into the economy for building and, you know -- neil: they can do that. >> they can definitely do that. this is the thing about command economy. the problem is that they have rising debt they are trying to get that under control. they have a shadow banking system they are trying to coral, they don't want to go too far
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down that road. this is devaluing the yuan, you will run into problems with the united states if you devalue the yuan. neil: so poor now the relations they might figure what the heck. >> why not? they are playing game of chicken with the united states, who is going to blink first, is the economy going to get bad in china blink on something that they don't want to, changing economic model, is it that serious yet for china, probably not, are they going to wait to see what happens in the election, maybe it's a new president, maybe not. neil: maybe they are waiting, a story in financial times to that effect, they are unusually in presidential polls and seeing the president oddly enough trailing nationally against some of the prominent candidates by double digits in some cases and in the battleground states and they might, might be
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interpreting that, well, we can wait this guy out. >> i think the chinese would make a mistake to conclude that this is a donald trump issue. it's a united states issue. whoever comes in after donald trump may not use precisely the same means, may not use the same rhetoric, but there's a tail-win behind the president, maybe donald trump or somebody somebody else, a business community that's fed up, allies that are fed up, general population of the united states -- neil: responded today, this approach of the president scares us. >> they are concerned about the use of tariffs for things like getting méxico to change -- neil: right, don't use it for nontrade related -- >> it's not meant for that. you saw up welling of opinions out of business community against what the president was doing. what's happening in china, there's a feeling that they needed to have some action taken, so china may be waiting for the u.s. to blink and the u.s. doesn't blink in which case
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the scenario we see is more spending, more -- you know, easing with tax codes, pressuring the banks to lend more, devaluation of the yuan to some degree, all of the traditional measures that china uses to prop up its economy will probably be deployed again. neil: could i ask about the wild card in all of this and what's happening in hong kong, the extra discussion law put into effect, ignited crowds and reaction, i don't think the chinese expected, i don't know how it's going to end but obviously complicates a lot of things. >> very much so. i spent -- i lived in hong kong for a number of years, it has always been prized by international business as free zone separate from china. one country, two systems. the extra discussion law which hasn't passed yet, the legislative executive legislative council decided to hold off vote on it as a result of protest would allow china to say you have somebody in hong
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kong, we want them back, they will get tried in china as opposed to hong kong. there's no rule of law in china and -- neil: they will go after those who speak out against china? >> already done that with book sellers who were publishing books that they didn't like and suddenly disappeared. i would say no because hong kong is a different place, on the other hand, first off, business is concern about this, if you're a businessman and you run foul, you're in hong kong, they can cease you, that's scary. for the people of hong kong, you have seen them stand up before. this has happened before with china. these are orderly protests, yes, there's a couple of elements, tinny bit of violence, for the most part it is a public outpouring of sentiment against being part of the authoritarian structure of china and hong kong is going to stick with that as
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long as it possibly can. neil: we just passed 30th anniversary and argument was when reviewing tapes, warning weeks before, clearing out, they weren't clearing out. planned protests, camping out another thing. >> a gentleman perceived by exist eveningial crisis, if you let this spread, spread to go shanghai and other places. neil: that's right. >> we are going to lose control as the communist party of china, hong kong is not that, the clamp down on information in china is so severe now that there are a lot of people in china who don't know that hong kong is happening, so they can still isolate, yeah, they could still isolate hong kong and keep content. you would think if they would want to keep hong kong free because it is a source of
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capital, prestige, source of -- neil: they are very different than 30 years ago, they are an economic power, emerging as one. >> yeah, right, and thinking back when the takeover happened was hong kong swallow up china and guess what hong kong is swallowing china, i would think that china would value that, they may not, they may see as pest, as a threat and clamp down even further. neil: one analyzer says at the core they are bullies. >> bullies can feel threaten by the smallest things. neil: john bussey, thank you very much, all right, elizabeth warren wants to cancel student loan debt and she has a plan for it, actually she has a lot of plans and that is what's propelling her in the polls here, she just doesn't talk the talk, she tries to do the math to support the talk,
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neil: i don't know how you feel about elizabeth warren but she has a lot of detailed policies, she doesn't just talk the talk, she does the math behind that and you might not like the math either, debt proposal that would help kids pay off over the course of ten years, you will pay a lot of that but, again, dismiss her at your own parrel because one issue after another pen to paper, spreadsheet to this and people say numbers don't add up, be that as it may details are there, again, you might not like details but force to be reckon with and she's rocking up in polls right now. correspondent director, emma, emma, what do you make of this, we can go back and forth on
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paying student debt, providing health care for all, whatever the other policies are, she does go into details that apparently many democratic voters find appealing, what do you make of that? >> elizabeth warren's words that she keeps saying i have a plan to that and a lot of people that appeals to them. what's dangerous about this when you break down the plans like you mention there's a lot of flaws here. we know that when the government pours money into system they tend to just become bloated and that's why tuition has skyrocketed so much since federal government started subsidizing the loans for students, it's common now to see 18-year-olds taking out 6 figures of loans just to go to college and this is a crisis not necessarily only of price but of value, this is causing college degrees to become devalued and this is a problem that really means a lot to young people, millennials, again z, largest voting block in the country, this is a scary thing to see
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because we know ideas do not work in practice. neil: i know much of it in this case is targeted at upper 2%, they'll pay for this, presumably the thinking is that the rest of the folks are not and then that will make it appealing, the money covers it. you can't get there, going after the same 2%, you're going after for providing health care for all and run out other people's money as the saying goes, what do you think of that? >> well, i definitely think it's true, it's not right to try to force the top 2% to subsidize programs for everyone in this country, that's not the proper way to do things, that's not what america is about but also this is dangerous lesson to be teaching young people when you make financially irresponsible decisions it's the government's job to come in and bail you out, it's not just georgia to stop at student loans, i mean, why would it? what happens when people buy a car that they can't afford or take out high-interest credit
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card and they're not able to pay that back, i have a right to not be in debt anymore, it's important to see where the logic will go and that's exactly where this kind of thing heads. neil: all right, emma, thank you very much. >> thank you. neil: facebook on a list that it doesn't deserve to be on, being removed among ethical companies that used to be in separate category on their own, what happened and why after this my ideal cloud? it has to work like air traffic control. it's gotta let new data integrate with data from our existing systems. ♪ ♪ be able to pull from reservation platforms built 20 years ago. and also be able to use apps to book super-personalized trips on shiny new phones from the future. plus, i need freedom to move my workloads wherever, whenever - but manage it all from right here. and that's the cloud i want. simple, right?
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neil: all right, it was a list s&p was proud to be out of, list of s&p companies that are deemed ethical, they do the right thing for people, now taken off it, robert gray with the latest impact on that, what happened, robert? >> neil, you might say they were defriended from s&p 500 index, the global head of the index noted in a vlog post that facebook has been dropped. environmental score was strong, indeed, 82 out of 100 but the social media giant got 22 on social and just a 6 on
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governance, out of 100. scored 21 down from 30 last year, it was 71 back in 2015. here is the reason, quote, privacy concerns including lack of transparency as to why facebook collects and shares certain user information, the post citing facebook's privacy issues, that of course, 150 companies accessing users personal data, misuse of personal information and hacking of nearly 50 million accounts, other household name companies were dropped as well, that includes wells fargo, oracle and ibm. separately facebook planning to unveil crypto currency next week and they signed on more than a dozen companies to support it this according to wall street journal. visa and master card, paypal, and uber among them reportedly investing some 10 million bucks each. even though crypto currencies haven't gone mainstream the companies of course attracted by
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facebook's 2.4 billion monthly active users. some of the companies may verify transactions and maintain records of them basically creating a brand-new payment network, the digital coin will be called libra, government issued currency to avoid price swings that we have seen like bitcoin, neil. maybe sign libra, i'm not sure where that comes from. [laughter] neil: i don't know either. obviously getting off the ethical list was one thing but the crypto thing is striving in wall street. facebook north of 180 bucks a share, largely on that development. thank you very much, my friend. let's go to tech expert on all of this. i'm wondering that the market seems to shrug getting off on ethical list but their own technology or currency.
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>> 2.4 billion users, still big revenue engine. it's one of the reasons that when you, you know, mark zuckerberg sits in board room he isn't removed or stepping down any time soon because the business is going well and that's what people understand and also consumers aren't paying attention to that list. i mean, consumers know that there's privacy issues that facebook has bungled things in the last couple of years and not forget cambridge analytica, they are still using facebook and making meaningful connections and aware that facebook is trying to steer into being more careful about their privacy. they talk about moon-shot ideas, plugging into your body for a connection to information and really about kind of connecting to each other in groups and managing your data better. so facebook is trying to change the conversation and, you know, maybe consumers were listening. neil: you know what i'm curious
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about too whether you throw baby with bath water or remove zuckerberg and to do so because apparently he was aware of privacy invasions when he said he wasn't. some go so far that he perjured himself when he testified in capitol hill, if you want him removed you will do a lot of damage, hurt users and he's the founder, he is the guy who came up with the concept, do you want to do that? >> yeah, i think it's a risk, you know, both externally for people looking at leader but especially internally, all of the programs, all of the engineers, the people who work at facebook, they look to mark zuckerberg, he is not just a -- a sort of a paying your head, this is the leader, he's the programmer and understands the system deeply, you know, like so many of the leaders in silicon valley, they built these things and have the grand ideas, could not see the future, had no idea what was really going to happen with the tools they built, what they used to worry about
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eyeballs and keeping a hold of them for as long as possible and now think of things like policy, by the way mark zuckerberg hates to set policy, he hates to think about that he just wants to think about connecting people, so it's a difficult situation because he's not going to let go but he's also faced with the challenges about having to figure out things that he never thought about in the beginning of building facebook. neil: yeah, all of a sudden you become this huge multimillion dollar company and times in the environment change, thank you very much, good to see you. >> pleasure. neil: u.s. military believes without a doubt that iran was behind those attacks and furthermore iran detained crew, individuals attacked and all of the evidence is building, how are iranians responding after this? when your psoriasis is bad,
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you need decision tech. you're smart,eat you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. neil: that was long interview the president george stephanopoulos saying i waited long enough that is for the federal reserve to cut interest rates, that do so now. since we have great numbers company of a companies are very strong they are very liquid, frankly if we had a ditcher person in the federal reserve that wouldn't even have raised interest rates so much we would have been at least a point and half higher.
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george stephanopoulos says he is your pick, said my pick i agree but, you know, we also have people in there are weren't my pick but he is my pick i disagree with him entirely as i know it is independent. >> 10 year yields coming if in and out of two-year lows on -- real clear market senator on this president expressing frustration with federal reserve, he said i -- you know a couple many times, and we would have stronger growth if they hadn't done that do you agree. >> no i don't think there is any correlation between the two, that is the equivalent of de blasio saying archetype represents are too high in new york i am going to lower them does anyone think would result in you apartment abundance in new york city, obviously, not the idea the fed can somehow lower the coast of accessing trucks tractors computers desks chairs buildings is just
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not serious we live in globalized credit if a fraction as powerful as assumed the u.s. economy wouldn't be worth talking about we wouldn't even care who is at the federal reserve. >> president says, referring to the fte chairman if he did the interest rate increases half as much if he didn't do tightening tightening meanings taking money out of the till we tall it quantitative tightening if he didn't do it, i am appear fraegz wouparaphras been better would there be a measurable difference? >> i don't think so remember that the trump economy, has been by trump administration's own statements booming, and i would agree that many think the administration has done has been good for the economy, the fed has been raising rates since what? 2013, 2014? so the idea that suddenly one
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quarter point rate increase in december turned an economy they said was best in the generation into something is that was weakening just wasn't serious. i mean, i look at the "new york post" in the past week they noticed that buffalo western new york is struggling, is it struggling because the fed has been tight tight in buffalo could fed unanimous buffalo economy buying banks, no, it couldn't the talent out there at a 51 peek a day if you want to boost economic growth you lower taxes on individuals, you reduce barriers of production the fed can't alter reality. >> so a it can change psychology right there is growing expectation, that probably not at the june meeting, but -- in july, they cut interest rates. normally, when people here that worry what does fed see that we don't see but the expectation is that is all good how do you feel about that. >> what is the fed see has fed
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been right about anything in -- in all the time you have been doing this show? >> their projections with economic growth have been so wrong so long, of course, if these economists at fed had a clue where economy days going wouldn't work at fed but making billions private sector i don't think it matters what the fed says let's remember it projects always oversthaitdz influence through banks shrinking source of credit in u.s. economy about 15% it is a least dynamic does anything think what fed does is of any import to what is happening in silicon valley? the most dynamic part u.s. economy, of course, it doesn't idea that fed fiddling with interest rate can alter economic reality is not too serious furthermore it insults the u.s. economy way of sailing you didn't build it the fed built it. >> stop insulting our economy repretending rig on a bunch of
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guys on constitution avenue in d.c. >> president should not even be mentioned. >> of course, not i think -- insults the good of his policies by mentioning the fed. >> you know it is weird interest rates dropping gold prices stoorg gold hit 14-month high something you don't see every day what do you make of it. >> remember in 1970s fed was aggressively pushing up interest rates, and gold skyrocketed in 70s, 80s, 90s the fed was pushing down rates gold plummeted, the fed contrary to what is believed does not control the value of the dollar i will point out, point something important, the gold price is at recent highs, that is the biggest danger to the trump economy when investors invest, investment is driver of economic growth, they are buying future dollar, so when policy presidents get what they want dollar devaluation you are levying a tax on very investors who will power your economy forward.
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>> gold -- as interest rates are sliding, sounds a lot to me like stagflation. >> it is never -- look at the carter-nixon era bad for economy hard assets did very well a sign that investors are not investing in real ideas they are basically investing consumption, compare to the 80s, 90s gold was plummeting oil was plummeting u.s. energy industry was nonexistent did anyone care? no. u.s. economy was soaring when dollar is strong investors much more about comfortable putting money to work in most dynamic economy on earth know they won't face the tax that is devaluation i have idol everyone i snow inside trump administration if you maintain the dollar as reagan did as clinton did you will have a booming economy about to term presidency if you procure dollar devaluation your presidency will fail as jimmy carter's did ultimate george
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w. bush's did weak dollar worse thing you can do to economic growth. >> 1985 ronald reagan did lead -- treasury secretary at the time to bring dollar down you are rightly did not go far enough to crash the economy, but he did reverse course. >> he did reverse course that was -- and that really ultimately harmed him if you don't have that dollar dedeinvasidede dededevaluation jim baker talking down dollar october 87 there is no way you have that crash let's never forget. >> interesting point, all right. >> dollar investors are buying future dollars if you devalue the dollar you tax the very investors who power economic growth. >> very interesting discussion, thank you good talking to you -- >> thanks for having me. >> we have following iranian developments he said they said we think they are behind and we said we have to -- of this tanker twin tanker one found
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digging through to retrieve a mine had not exploded, a camera we had issues the video is there they say it is iranians trying to did -- any a mess iranians say they had nothing to do with this he pressure building certain in arab league and others to make sure she pay for it former national security adviser john hannah worked with dick cheney. >> where i is this going. >> right now toward escalation whether or not u.s. is going to tricker military response unclear because the president clearly doesn't want to face a war going into an election campaign. but this is not the first incident we have had with iran there are now up to six incidents, that have happened, that are a link to iranian backed militias or iranian backed elements clearly trying to destabilize markets generator crises get u.s. to bank off economic sanctions
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that are absolutely crippling the iranian economy. >> we are getting reports as speaking to you this is from -- talking to fox news four august boats crashed topull norwegian tanker the front altair. >> so to your point could be escalating, that is almost going to have to prompt an international response. would it be? >> well -- listen the highest end of this is obviously, to send some iranian boats to the bottom of the -- of the gulf there. and hope that that then contains and deterz iranians backs them off because the last thing they need is force on force confrontation with the united states navy, that is a suicide mission for -- for iranian military their
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hope and her skill set is in that gray zone actions, short of war, that impose real costs and pressure, on united states and international community. in the hopes that we are more afraid of war than they are that we will back off. and the trump administration just has got to keep its foot on the pedal stay steady got to stay resolved get allies in europe most importantly the american congress american people, behind us to develop a credible case about why we need imposing confronting iranian aggression here. >> we will watch he closely good catching up you -- >> thanks neil. neil: one foreign cries isn't enough there is china, hong kong china, recently -- our envoy over hong kong criticism chinese had enough protesters, they say they've had enough usually that gets to be a
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don't look at it you are not going to know if it is bad how are you going to know if it is bad, of course, you give it to fbi or report to attorney general or somebody like that. but, of course, you do that. neil: all right, clarifying controversial remarks on accepting foreign dirt on potential opponent jeff trying to put this to rest, it doesn't seem to be going to rest how is this playing out? . reporter: we have certainly seen republicans and democrats come back after the president's comment saying that that this is this is wrong a democrats the taken this -- as another way that the president is being soft about issue of offered, foreign political appointee, republicans even lindsey graham supportive of the president saying that if
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foreign offersings opposition research of any value the answer is no. >> woevent surprise me quite strong in that i am not surprised as valerie jarett barack obama's long term adviser talking about this when i was talking with hurry just jed i want you to react to this. >> the president is under some to recover for telling george stephanopoulos if he had dirt from p foreign entity people listen what do you think. >> i think by own fbi director words that is something you are not supposed to do why would we want anybody thuting thumb on scale for our election to have you ask why would they be giving that you information in the first place? because their trying to affect outcome. >> all right, i am wong where this goes how much of a political issue you are hearing it could be what do you think? >> i think everything is going
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ebb to be a political issue at this point keep that in mind that trump is launching his campaign officially on tuesday, and so this is the kind of than any really gives you a window into the way trump thinks through what he is going to say in interviews, he knew this was going to be a big deal to say just doesn't care, he went ahead and said sure would take up research we have seen him walk it back a little bit earlier this morning, saying that, you know, if there was something that seemed bad he would go to the fbi. which is, of course, what fbi director has said that you must do, and trump said he was wrong we are seeing trump start to walk this become a little bit also seeing campaign trump come outgoing to say things, and not even think through how they might be read but he believes he can listen -- defend himselfs accusations from democrats this is obviously, going to be something democrats can use against him, a lot of republicans are just trying to kind of move past.
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>> do you think he knew well in advance answering the question the way he did would ignite response he predictably got? >> it is hard to know for sure whether he knew how big a deal would it be he knew this was a travel moment controversial moment democrats said shouldn't have taken meetings with russians no one on campaign should have taken a meeting with anyone offering opposition research on a political opponent, so he knew this was something that democrats would likely get riled up about, it is hard to tell how much of an issue he thought it would be seemed to not care he said what it we see over and over again. neil: you heard republicans are saying, democrats criticize when they lefth paid for dossier disputed they all play games one side acting holier than the other is that how this goes? >> yeah in fact we have seen this been an issue people
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pointing to steele dossier saying democrats are hypocrites, fbi was involved in that and now, of course, trump is saying he would go to fbi potentially, and this is ego going to be political conversation both sides saying you are a hypocrite this is the illegal you can't do that opening up this can of worm all over again. >> thank you, have a great weekend. >> thank you too. >> all right, fuss going on around iran, strait of oman strait of hormuz what if i told you all that stuff could ebb directly impact your gas prices next time you fill up tank just on fears just the fears that it could escalate even if it doesn't, after this. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know?
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neil: all right we say this
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is the iranians iranians saying this is not so back-and-forth continues amid separate reports, that say it is escalating again, fox news national security correspondent-over griff i have been. >> we learned senior u.s. official iranian are blocking four tugboats chattered by norwegians one one irrainians preventing august boats from towing that stricken vessel away a situation that is developing as we speak. at first the irrannias put out a press release saying they rescued all 44 sailors on two disabled tankers after he sploefrgs explosions officials tell us one were detained thursday after being rescued by another mere ancient vessel one crewmen spoke on iranian state tv. >> i am from russia.
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service was excellent posted really well everything is fine. >> we are told that is a propaganda video only 23 sailors prevent not 44 iranians claim to holding u.s. says it rescued 2 from tanker attacked u.s. central command released this photo showing what it says unexploded mine attached to to hull of one tanker attacked outside persian gulf thursday this released by u.s. military shows what it claims is proof of iran's involvement in the attack officials say this iranian islamic revolution guard boat removed that unexploded mine from hull suspected iranians wearing life jackets not bomb disposal gear to handle live ordinary nantz the japanese tanker damaging in gulf of oman as japan's prime minister visited tehran iran dens any parole in the attack u.s. the personals say 21 from japanese owned
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tanker were asked by bainbridge treated returned to ship proposing to you to stricken vessel to port iranian vessels remain nooefsh lurking around damaged hull attacks roughly 20 miles from iranian shore near strait of hormuz strategic waterway 20% of world's oil flows each year uss mason guided missile destroyer dispatched to ensure iranian vessels stay away from commercial shipping officials say unexpleaded mine is same in same vicinity secretary of state also blames on iran important to remember 23 sailors dined by -- detained by iran held against will nearly two days. >> thank you very, very much, as if a trade war isn't enough
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farmers in midwest racing to harvest unused land after he severe weather. >> the farmers can't plant getting together as you just prefaced by saying normally by this time of year, you have corn at least in knee-high if not higher grand too wet to plant this year farmers gathered last night at a out of does preyings exasperation talking to a producer they said we want you to hear our voices, he stayed with them until 3 a.m. eastern time. so as far as what is going on in the markets, how we are seeing this show up, corn futures so volatile this month most analysts we were speaking to in chicago say there is more to come on that, because the final planting dates for
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corn and soybeans have come and gone. so acres that were slated to be planted are not able to be planted here is what one farmer told us. >> we have no idea -- >> we don't -- and not going to be over next week this is not over to us -- until -- >> farmers are saying the weather has to be absolutely perfect from now until harvest time to get any kind of crop, one decision farmers are discussing decisions to invoke insurance on a plot of land, before even planting it and majority of farmers are moving in that direction. but some say it is just too lately or too risky no longer worth the cost of planting the land because keep that in mind, of course, they are paying for seeds paying for machinery costs still paying for manpower, one insurance
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our producer spoke with told thus. >> every year i say we have one -- one to two percent clients have -- an issue, issue potential issue like this year over 90% we never dealt with it this type of scale before. >> looking into ways to allow the farmers who have been unable to plant crop due to rains and waterlogged fooemdz to qualify for farm aide payments that is in the moment under discussion back to you. neil: incredible, how much will more can farmers take? >> i don't know, i don't know. >> thank you hong kong bracing for more protests this weekend,in hong kong -- with the latest. >> neil we come to i on a relatively calm friday evening in hong kong in fact last couple days, have been what you would dry as normal here in this city, after a wednesday that was anything but normal. that is the day when protesters took to streets and forced debate on a controversial extradition bill
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to be delayed then the police moved in, using tear gas, rubber bullets to drive protesters away they will tell you the driven away only on temporary basis the same group organized protests here last week said they are putting together another large scale march as described to us, for sunday afternoon. local time here in hong kong they will be gathering, at 2:30 same area that they marched earlier in the week trying to force this extradition bill would allow people charged in hong kong with a crime theoretically to be shipped back to china, mainland china and charged for that crime they are trying to get that bill shelved, but so far their effort has been unsuccessful. carrie almost a chief of staff in the hong kong highest ranking official pushing forward with effort to push this bill through in fact she referred to the protesters as an organized riot, in her comment the other night, the
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world once again will be watching hong kong, on sunday afternoon, watching for any reaction to come out, of china and seeing if protesters can have, any effect. >> neil back to you in new york. >> is it connell thank you very much, back to iran and -- the shipping rates, oil areas, that are -- very much impacted and very much about affecting oil prices not as dramatically as thought fear seems to be escalates getting to that it could be if anyone's guess particularly on gas gas petroleum analysis what this could mean what do you think? >> neil, obviously, this is a situation worth monitoring as i think your colleague are reported you know perhaps more is about to happen in the days and weeks ahead that is what the markets looking for oil prices are still lower than where they started the week, so motorists need mot rush out fill tanks if attacks escalate
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in number size severity we could see impact in the future keep that in mind the other side iea revising down toward global oil demand that is keeping pressure on oil to move lower but for now, gas prices do continue to move lower in fact 38 of nations 50 states are down 5 cents a gallon, versus last friday. and national average now declined to 269 lowest level since march 30. >> you got to won it seems slowdown fears winning out obviously, you could have panic attack for the markets looks, middle east is turning into a powder keg. how do you see this playing out? >> well, you know, obviously, the u.s. navy is headed to the situation. i think president trump has taken ownership of the gasoline oil prices too degree that perhaps he might want to look at more involvement, i mean that is obviously, sticking point u.s./iran tensions are already high but perhaps that would play into
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this is political strategy, on how to deal with iran, if iran continues to make these threats and carry out attacks maybe there is some diplomatic solution apeaked of 2020 especially if oil prices start reacting more to attacks -- >> i would doubt when you bring up that is americans don't seem to care, i mean even when prices jump not as if they cut back driving or buy fume efficient vehicles even though a lot of suvs today are certainly more fuel-efficient than they used the he to be not cheap. what is driving that? >> we have 90 good days of summer neil you are in new york i am in chicago. we don't get a whole lot of great warmth during summer americans are incredibly resilient, you could have gas prices at approach breach 3 dollars a gal our survey found out a month ago doesn't really matter, people are taking to roads no matter what, of course, you know that is going
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to eventually perhaps fiduciary demand up but in the light of this, you know just previous story farmers are suffering less diesel consumption i think a good story both sides of the barrel here that is oil demand may decrease but gasoline demand is going to remain strong this summer in u.s. if not slightly lower than last year. neil: agent thank you very much, watch closely, head of petroleum analysis right through the process we will see, come whatever. >> right now we've got a debate set we know the democrats will be attending those who won't but we know one surging, with a lot of details on well surging government spending. after this. fact is, every insurance company hopes you drive safely. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands?
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elizabeth warren is gaining traction a lot of traction, and this afters promising extending more details behind house she would pay for that spending you could agree or disagree with math or even approach, but it seems to be resonating with democratic prosperities, through former hillary clinton campaign finance member, independent with dlashg of policy new york city with republicans joe borrelli. >> iffic i could begin with you is it your sense the reason why someone like elizabeth warren talking about how she will pay for that. >> i think that is right, neil, i mean there is a certain atractioniveness for big ideas and her mantra i've got plan for that, landed on cover "time" magazine limousine catchy i think able to both resonate with her core
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base democratic party as we have seen course of last week, really start to gain traction, with new voters siphoning off appears voters from bernie sanders and from joe biden. >> you know, looking at all of this, she is having biggest surge right now that could change about it only thing i can get that she has been relentless in details relentless in being the wonk bracing the wonk, even out wonking bernie sanders no doubt someone sheed a mired, seems for the time being, as younger face of same message how do you describe that? >> right, and there are so many candidates in the field, we have to remind ourselves not that many lanes in thefield joe biden continues to be top of mind sort of traking more moderate democrat voters center left lane as he will bernie sanders, has always had his lane as
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democratic socialist elizabeth warren doing successfully i think o moment for achieving a policy agenda that could unite democratic party so i have oping off moderate support from joe biden i think economic patriotism aagenda voters that might otherwise vote for president trump reelection bid, also appealing to crowd further left might support senator sanders when he gave hes speech about democratic socialism it is ideology, opposing oligarchy, to tall tarrism elizabeth getting into details of policy. >> honest all the other stuff -- so he doesn't seemto fret her as much as would appear let's ajoe biden he trailed i
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think elizabeth warren by 3 or 4, so maybe he is just dismissing her out of hand what do you think. >> i don't think that would be right move she is someone who has begun to differentiator hers from accounts i put in a second tier not joe biden not bernie sanders, and she is doing that, by sort of adopting some respects, a populist message trying to appeal to a -- a broader swath of the population, you know biggest criticism that she has is she is not unique in most liberals can't figure out how they are going if -- pay for some of the bright bushy-tailed spending programs they want to come up with she is one few who is trying to talk about policy, not just going after trump on impeachment and things like that. >> very good point blake something you touched on as well, a lot of people who she targets to pay for that 2% seems a theme comes up in paying for college debt, and
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help people get health care for all provide medicare for all. it is rich, who she goes after. whether that ultimately does work out is anyone's guess. but does that people raboomeran her. >> i don't think in democratic party not struggling attackeded wealthy encouraging ultra wealthy pay more for something particular lowering cost of college making health care more affordable as we saw with howard schultz' you know just ill begotten nonsensical campaign the second pushed back against that was all but dead in the water now i think that campaign has finally come to its end, fortunately i don't think i it is going to boomerang on her in a democratic primary i do think that again what the democratic party has to be careful of is not tacking so far to the left to win that they can't come
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back, to the middle and capture again some of those obama voters who then changed and voted for trump which is critical as you bureau about an woman critical, rust belt, critical to win one concern about elizabeth warren i will say i think tempering that considerably by putting her ideas out there, and putting her ambulance out there, for the public to digest. neil: there is -- joe biden sort of sitting on a lead, blaming -- conservatively not politically. he might regret that. what do you think. >> you know, i -- i think there is a warning both for joe biden, and eventually for president trump in this recent momentum surge for elizabeth warren that is when talking about the policy ideas, the debate between the right and left, tends to be, you know here is medicare for all green
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new deal, universality health care name it, critics of that plan say how are you going to pay for it if she provides details how to pay for it then we need to address the other arguments about why it might not be best for government to be in charge of raising children from birth through age 5 or providing health care for everyone that replacing, the options in a private marketplace with one centralized government plan is ultimately going to result in limited access or lower quality when it comes to the things that we care about, so i think she is driving the policy debate right now, but certainly something for other candidates like joe biden, and eventually president trump to be thinking about current message cannot simply be about money it has to be about benefits providing people greater choice he is rather than one centralized government option. >> good point joe -- the economy that you could go back-and-forth how great economy is but certainly strong right now. key demographics looking at record low unemployment, and
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he is trailing, now that he they might not equality accurately reflect the what is really going on, but you could make an argument president should be up double digits he is not. >> the president was losing just about every poll before he actually won the white house, won presidency. >> you are right about that i think we are going to see polls change after we watch this greatest hits of the rat pack debate candidates trying to sing greatest hits articulation rich ban cars medicare for all nine joe biden's big moment to gain or loss if he comes out apologizing for all past votes, past mistakes people are thinking of him in the past, they are not going to see him as future of the democratic party which is a problem he has already been walk wag a fine line. >> final word i want to thank you blake, thank you for coming i hope you all have a great weekend. >> thanks to you a.
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>> first there is the burger tyson launching chicken nuggets without chicken, apparently they taste just like chicken, after
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reason the company promising delivering ,000 cards day to record quarter, stock responding to all of that today we are also separately getting news from the white house that j.p. morgan jamie dimon met with members of the business roundtable, we have executive officers ceo from ups, union pacific, a lot of key financial and industrial players talking presumably about this the amongst mexico trade agreement usmca how that is going to fan out, and concerns about the china trade agreement if will come to pass that a previoductive meeting a few minutes ago round two u.s. open under way world cup
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golfer gathering in pebble beach california gerri willis the latest accomplished golfer in her own right gerri what is it looking like there. >> is it i think you overstate at any rate gorgeous absolutely beautiful a minitour in a second, but first to catch you up on play it is justin rose englishman leading the pack great first round, 6 under 65. tying record for the best performance in a u.s. open round the only other person has done that tiger woods we caught up with both of them state ofing with justin rose at driving range, a lot of fellows we were up close and percentage with betting of them, tiger practicing putting saw him practicing with irons really impressive to see both of them out there, working so hard, of course, all out there getting ready for today's
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second round of the u.s. open. to give you a tour here of stillwater cove show what is going on three holes from where we are here is hole six, right here you can see up on the hill, and coming around you can see four that is a fairway for four, and then over here on my left, you can see 17 a couple people standing up there on 17 getting ready to go. you see the flag there all the way across, of course, right here in this cove people bring in boats this is how they come to the u.s. open to visit, they don't rent a hotel don't airbnb it they just drive boats in, and come right through here where i am standing right now, and join play a ton of finish covering stuff you would never see otherwise, if you didn't have a special pass. and we're here all day, back to you neil. neil: good for you gerri thank you very much en viable assignment gesture withi willis at u.s. open, tyson's
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food joining meatless fray announcing chicken mcnuggets without chicken -- plant based, so this appeal is real, the use of it is spreading to registered dietician. >> thank you for having me. >> in rush for people loving this stuff, and i tasted some new burgers they taste great i don't know if healthier if fewer calories i don't know what is in them, i didn't quibble they are delicious i am wondering are they better nutritional alternative? >> so plant based on the rise these alternatives meats have become popular, and typically made with a base of beans, whole grains foods we should
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incorporate in diet norred to achieve that meaty taste texture they can have added sugars higher in sodium because processed -- it is also lower in saturated fat one reason makes them better for us, in a way because saturated fat -- because of the -- about cardiovascular disease. >> i don't know what they are he had aing beats or something, you are trying too hard to look like mccoy doing weird things to do so should i worry about that or not. >> i am a dietician pushing real whole foods, kind of staying away from the processed stuff. >> you and me both, you and me both. >> body knows how o to digest it social nutrients it
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contains yeahpen advocate for real whole foods when it comes down to it. >> is that right? so now the fact tyson as big as you get is looking at this chicken less alternative chicken nugget that sort of thing others apparently clamoring to offer their own, this is real isn't it do you think that this could mean country's obesity rate slightly came down could improve now? so there is research to show when we incorporate more plant based foods into our diet we are lowering our risk of chronic disease can help with weight management, that -- in that i see as positive thing that transition to go more plant based foods but that doesn't necessarily make it heart, like saying they add the lot to make it have that sort of meaty taste texture as long as you are staying below saturated fat recommendation i think that meat can be mart of the healthy diet. >> lfrt, thank you very, very
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all right. thank you very, very much we are both in fitness, you probably know, 10,000 steps a day a day. i didn't know that we will have more. that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪
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2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
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can the past help you write the future? the day we'll finally get something done. can you feel calm in the eye of a storm? can you do more with less? can you raise the bar while reducing your footprint? for our 100 years we've been answering the questions of today to meet the energy needs of tomorrow. southern company neil: all right, you have crisis around the world that could develop, not only about iran but plans over in china, live on
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quickly developing issues. 10:00 a.m. eastern time, special cavuto live looking around the world. we have you covered even though it's the weekend and charles payne knows a thing or two about constantly working. charles: breaking right now stocks slightly lower today but not selling -- let's put it this way, window continues to close in near-term resolution. broadcomm with revenue forecast by $2 billion, for his part, president trump fired up on fox news today saying it doesn't matter if china's leader meets later this month calling iran a nation of terror and also making it clear, of course, he would report foreign interference in the election. we've got that and much more on


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