tv Cavuto Coast to Coast FOX Business July 29, 2024 12:00pm-1:01pm EDT
12:00 pm
i'm going to go with 48, number two. stuart: doesn't have to be an odd number? or does it have to be an even number, it doesn't make any difference does it. what did you go with ashley, what did you say. >> 48 number two. >> okay i think it might be a bit more than that, i think 54. the answer is 54, the game was first released to the public in 1982, the harrods department store in london the tallest recorded jenkintown was 40 completed levels. you have very steady hands no shaking. it is not for me i don't think at my age, thank you very much for being with us i know we will see you tomorrow, we love you and to leave you with the four big tech stocks that report this week, they are all higher as we
12:01 pm
walked toward the earnings report, "coast to coast" starts now. >> thank you very much for that and the tenure reference, this market is on a very, very flimsy wooden pile if you think about it. that's the best i could do, here's what were looking at right now. i think this could be the story of the day tenure yielding 4.18%, it was not that long ago when we were flirting with the 5% level, this could be the market's way of telegraphing a slowdown in the making or lower interest make on the federal reserve of a good thing this is the week that we see the fed gathering tomorrow and wednesday, the consensus we will see no cuts at this meeting but it will set the stage for september cut. according to some folks including the former federal reserve vice chairman with interested editorial in today's wall street editorial there's an argument getting ahead of this thing in starting the cutting with a meeting, very few agree and even he doubts it might come out to that with the federal
12:02 pm
reserve and the way it is sending signals now, can you imagine if that were the case what that could portend, bobby the coach under cofounder of trading partners, what you make of that, maybe secretly quietly behind the scenes that could happen. if it did and they cut this meeting, what do you think the reaction will be? >> honestly i think more of the be careful what you wish for action, we talked about that last time i was with you and thankfully if they start to go into a rate cut cycle, that is not going to be what stock investors want, that is a sign that things are weaker and we have some downturns in manufacturing across the globe in a little bit of a down taken the small to medium-size business, the s&p manufacturing, pmi a little bit of weakness in the ism and the reason i bring those up, we are a 70% services economy but the manufacturing sector correlates highly with
12:03 pm
the business cycle in the business cycle correlates highly with stock prices. if we get a downturn in manufacturing were likely going to see continued downturn in stock prices. neil: you change your backdrop for whatever the forecast, now were up against a brick wall and you know you're in front of a brick wall. what is the biggest hurdle, you run the other way but i wonder once we get cutting and especially folks that are factoring in three cuts this year, that could be a sign of desperation not a sign of moderation. >> absolutely, the biggest hurdle is still inflation, the good news on inflation's services on inflation is starting to moderate you look at six-month annualized services inflation and you look at 4% month over month annualized and three month annualized add to handle both of those we haven't
12:04 pm
seen that yet during this inflationary cycle, the good news on the services, goods inflation still continues to deflate so we have that going for us. also you know what we saw happening over the weekend with the middle east wearing up, that is a concern because crude oil, energy prices in general have helped the mini recovery in the manufacturing sector, manufacturing uses a lot of energy and if the price starts to rise from their you could see commodity prices rise, now we have the inflation hurdle again getting higher rather than lo lower. neil: i would be remiss if i didn't mention technology the big-name reporting this week, young amazon and apple, microsoft and meta and i raise them because even if they come up with these numbers if memory serves me right, so the google parent alphabet in the stock punished with tesla they came at the same day, what you make of the new jury that is out there
12:05 pm
on the big tech names. >> i think sector rotation is good for the market overall we get a better breath of the market. we have seen traditional stocks or triad stocks to use social media terminology doing really well, mcdonald's was one and another lennar homebuilders playing off of the lowered rate that you mention at the open. we have others like illinois tool works a very traditional stock up about 6.5% since july 5 and you look at a stock like home depot up 8% since july 5 post to 11% since the end of m may. those stocks being strong is not a bad thing for the overall market. i think at this particular time with the nasdaq itself is looking like a short-term sell to me even if we get a 3% rally if that doesn't hold will likely accelerate past the recent lows if we fall from those levels.
12:06 pm
overall the sector rotation is a good thing and i think you'll see investors buying the dip in technology and the issue becomes inflation and what the fed does. if they start to act like this is a rate cut cycle, be careful what you wish for. neil: you are exactly right rita hope the lot until next time not a backdrop of niagara falls. always good to see you all. one step at a time. in the meantime they hear his campaign catching up, a lot of premier polls, this is an incredible compliment if you think about that, here's has informally been the top presidential candidate for democrats in a week. it's been roughly that long, this as she's raising a whole bunch of money, more than $200 million better than 170,000 new volunteers, the wind is at her back right now but what is
12:07 pm
the follow-up for malibu jacqui heinrich at the white house with more. >> in her first fundraiser since becoming the presumptive nominee the vice president did something that president biden never did which is allow cameras inside of the fundraiser, it is a sign she is trying to seize every biddable mentor him that she has right now. listen to this. >> let us be clear we have a fight, we have to fight and we are behind the dots in this race, we are the underdogs in this race but this is a people power campaign and we have momentum, the day after i announce my candidacy, we saw the best 24 hours of grassroots fundraising and presidential campaign. >> the dnc said it broke the all-time fundraising record the data biden dropped out of the race and polls show the
12:08 pm
democrats were eager to dismiss him, his favorability jump seven points in one survey after bowing out excitement for harris has been stronger the campaign stays erased to a million so far and out of 170,000 volunteers in the first week. at the community of the villages in florida which is usually in the news for being a trump stronghold harris supporters held a golf cart rally, dnc chair jamie harrison the democratic voters volunteered and grassroots donors are fired up and were confident in about a nonstate democrats will wind up and down the ballot in november, here is first big decision will choose a running mate and democrats are increasingly viewing arizona senator mark kelly as an antidote to republican criticism of her handling of the border, michigan governor richard witmer who made of two women tickets and she's not interested. >> the vice president has a great group of people from whom she's went to pick her ready-made and i know i can be the best ally on the ground in michigan as a co-chair of this campaign as well. that is my focus and i communicated that with ever
12:09 pm
everybody. >> if the map holds where it is right now the blue wall states could give democrat a shot at 270 and that means pennsylvania governor josh shapiro if he were to join the ticket would potentially make for the best chances for them. he will step in for harris in his state and will see how her decision shakes out over the next few days. neil: thank you, jacqui heinrich at the white house. hans nichols joins us, we have 99 days to go in the momentum for the moment is certainly with, here's, you are a good study with the campaigns over the years and it comes and goes with you as momentum and when and what you make of the inroad she is making and strengthening the democratic base that is factoring off under joe biden. >> that's probably the most durable advancement she's making especially with minority groups and blacks hispanics, this is somewhat anticipated. i would also note that the biden
12:10 pm
campaign when it was still the biden campaign was banking on the voters coming home, they think that donald trump was renting them in the polls and he did not own them. in some way harris' nomination or likely nomination is accelerating the trend, the big question i still have, what is going to happen with the noncollege educated white voters and what's going to happen with older americans joe biden is doing exceedingly well with older americans in this cross-section that i'm most interested in in the next whole. neil: you mentioned older americans, they are the ones that are most sensitive to the treatment joe biden was getting because he was showing his age and his cognitive issues, some not all i don't know how that is politically didn't like the way he was treated by his own party he forced the old guy out on their's numbers big enough to impact the ball on a black shed. life is lived at the margins and
12:11 pm
removed at the margins to me the older voter movement is probably the most crucial to watch regardless of which way that they go because they vote, we know that they make up a large close to three and ten voters will be over 60 years old. we don't know that that's based on past productions but you need to win them and have them on your side because they are reliable voters, they get out there and opposed the exact opposite with new voters, younger voters who were not always that reliable about showing up. nothing to say to this. joe nations youth were optimistic and they're not always the most response bond this one. neil: as an old guy myself i would run overhaul: broken glass to vote i am a stubborn uno what, i see this but let me step back is a wildcard development but today in this week, not today but tomorrow the today fed meeting starts and there's an interesting former
12:12 pm
vice chair of the fed who made a credible argument for starting the rate cutting like now. even you by the end of this said probably unlikely but it would pave the way for the two additional rate cuts by the end of the year. i'm wondering whether that happens or not, the unlikelihood of a rate cutting cycle that begins literally this week what with the political impact be? >> the white house biden's allies want the fed to cut faster and sooner and more drastically because they want to see equities boom and they want to see the market get a little excited and they want to surf that all the way into november and the fed experts and whether or not they're going to announce that at this meeting this week seems unlikely and doesn't seemed like the market is pricing it in, september cut does seem likely and whether there is a december when that's after the election and that has more to do with the state of the economy and what the data is saying at that point.
12:13 pm
to me if the fed does not move and what the white house will look for is jay powell's speech in jackson hole and whether or not he could no most create a little bit of a rate cut himself by telegraphing forward guidance as the fed speaks. neil: we are seeing that today you are really on point, the market rates are coming down and were showing to tenure at 4.18%, something is going on. >> if you and i had the power to remove real rates with our words we would not be talking to each other we would be on the private island somewhere. neil: at least your private island. you could come visit. this is why what the fed chair says in jackson hole is so important, whether the market and were talking about equities in the bond market and whether there is a real boom that will truly help the incumbent party somewhat debatable that they would rather have it than not
12:14 pm
and that is the insight here is biden world right now. neil: absolutely, always great catching up, hans nichols on all of that, in the meantime bitcoin for a while we popped over $70000 a coin, donald trump had a lot to do with that it's having a devil of a time holding those levels but the fact of the matter is a lot more attention being drawn to bitcoin because what might happen under a possible president trump after this. ♪
12:15 pm
did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com the power of the swing. the speed of the flight. the precision of the putt. to advance the future of golf, pga of america chose t-mobile for business. with a 5g powered innovation hub to analyze player performance and expand coaching tools. and data driven broadcast technology, giving fans unmatched views. t-mobile is helping pga of america enhance how the game is played. experience game-changing innovation with t-mobile for business. to me, harlem is home. but home is also your body. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick and mortar in new york is not easy.
12:16 pm
chase ink has supported us from studio one to studio three. when you start small, you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. make more of what's yours. ruri: ichi, ni, san, shi... (1,2,3,4 . . ) ruri: ichi, ni, san, shi... (1,2,3,4 . . ) hina: ichi, ni, san, shi... (1,2,3,4 . . ) akari: ichi, ni, san, shi... (1,2,3,4 . . ) others: ichi, ni, san, shi... (1,2,3,4 . . ) others: ichi, ni, san, shi... (1,2,3,4 . . ) (♪) (♪) you were made to chase your passions. we were made to put them in a package. beth wants to get back to eating the food she loves. so she's been thinking about getting dental implants, but the cost seems like it's out of her budget. at clearchoice we specialize in permanent teeth replacement.
12:17 pm
offering a range of solutions to fit your budget so you don't have to wait any longer. finance your new smile for as low as $304 a month per arch for qualified patients. smiles start here. schedule a free consultation and 3d scan with clearchoice today. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds
12:18 pm
from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. ryan t. writes, "moving is stressful. 1-800-217-3217. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪
12:19 pm
oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi. easily transfer your services in the xfinity app. bring on the good stuff. neil: donald trump is firmly on the side of crypto encrypted investors saying if he had his way to speech before a packed national audience, he could see maybe getting a strategic stockpile of crypto related currency in bitcoin itself that he gets more involved in that and he had a short bullish effect as cricket itself and crypto undercooked coin $70 acquaintance coming back kelly o'grady followed and still following all of that with us right now.
12:20 pm
>> he promised to make u.s. the crypto capital of the planet, the conferences are really a big deal every year but this is the first time ever that a major presidential candidate headline the event informer president trump called crypto a scam and he summed up the 180 for a crowd into simple words, america first, you should, the biggest announcement as ut schemas plan to classify bitcoin as a strategic reserve asset, basically that means the u.s. would hold bitcoin just like it does gold and other foreign currencies, he did not make a commitment as to how much he would leverage on what the government has seized, he also promised he would protect transactional freedom and that there would never be a central-bank digital currency, the anti-regulation message that really got the crowd going, he attacked the bite of initiation for trying to obliterate the industry in the last four years, he promised the fire sec erie chancellor on get intraday one
12:21 pm
that got a lot of cheers and committed to a crypto presidential advisory council. >> we will have regulations but from now on the rules will be written by people who love your industry not hate your industry, the danger to our financial feature does not come from crypto it comes from washington, d.c. you mentioned how the prices been fluctuating, i tell you from folks on the ground there is a lot of worry that bitcoin and crypto stocks are going to move with speculation about his chances of winning in november, there was a funny moment he was speaking in the prices of bitcoin go like this he meant to the bitcoin reserve and all of a sudden it goes like this. >> he is the impact were on all of this, thank you for that, kelly o'grady, john wu is back with us the president very, very big player in this arena in early enthusiast backer and always good to have you.
12:22 pm
is this going to be a race for which candidate wins better for bitcoin for the political position and donald trump's into the white house or kamala harris does, what do you think of it. >> donald trump is showing great leadership, the attendance in nashville was great and back up to 2022 levels there is a lot of fanfare in a thing 50 million plus americans on the asset class actually agree. whenever we think of donald trump is been very consistent approach innovation and pro-america and that has led to vice president here is calling for a roundtable for the democrats to reassess the asset classes a whole. he showed great leadership and a lot of great points and for me as an operator it is great i want to see clarity and real standards so the ceos i've talked to en bloc chain can have
12:23 pm
consistency. neil: is not an investment and you have said that but there has been some sense that after shaking off those feared where it was tanking and there was a notion it was losing ground, now we get the notion that it could be a replacement for gold, do you buy that? >> the 50 million americans who hold it and about believe it's a story value and overseas, definitely in places like venezuela and latin american countries, turkey where there's a lot of inflation, they definitely believe it's a story value and heads to inflation and for sure, to forget the 50 million americans a lot of them are young voting male ad adult, that says a lot as to what people think of this asset class. neil: you mentioned a hedge against inflation no matter the age of the investor but if the fed succeeds at slowing
12:24 pm
inflation or reversing it there was a school of thought at the meeting that seems unlikely but is out there, three cut surprise for the remainder of the year end that's also up there that seems unrealistic but having said that does that make for a very, very difficult environment for bitcoin at least through this year. >> bitcoin is a big part of the asset class, we saw ethereum with the spot etf an avalanche and all the players involved in space close calls. i'm sorry you sparked the issue but maybe there is an alternative that might be more financially appealing? >> those alternatives are the players trying to create utility on top of the chain they are about coding on top of the train, smart contracts creating use cases, it works with
12:25 pm
deloitte, j.p. morgan, apollo, kkr to create applications on top of the block chain but we need standard so if there is payment reels established such a stable coin, product market as an established players like paypal and other traditional enterprises can also use it and that's what's been held back. with the lower fed environment and with clear regulation i think next year if this happens you get is the explosion of all the other parts of the computer asset class as well not just bitcoin. neil: for bitcoin in and out of 67, $60000, would you see that. >> it is still up 60% year to date, it's only worse then nvidia the magnificent seven i see given the annualized volatility i see it go well above 100,000 and that's not even a crazy prediction some of your other guests have come up
12:26 pm
and said over a million but i could easily see it go much higher given that you absorb some of the initial btc selling from the trust and then you have retail buying it you haven't even penetrated the riaa need to establish a distribution channel, once that channel is open you can have more buyers for bitcoin. neil: you talk about secondary players that can pounce on this we will see what happens always good seeing you, thank you very much. in the meantime hezbollah attack that took out 12 largely israeli youngsters, the war is widening and israel wants to respond and plans a response into lebanon, normally that would send oil prices rocketing, that is not happening and normally you would see the airlines many whom are cutting back to travel particularly within lebanon they
12:27 pm
are all selling off, that is not happening either, why that is the case after this. everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients.
12:31 pm
12:32 pm
a lot of people were not happy about it, greg palkot on the business follow from this. >> the olympic games are in full swing but the upper over one scene friday nights opening ceremony is still swirling around, critics say it was a parity of the last supper as depicted in the leonardo da vinci painting come in the role of jesus christ a french lgbtq icon the disciples played by drag queens and others, complaints have come fast in the controversial social media claiming mock christianity and elon musk candidate extremely disrespectful, house speaker mike johnson said it was shocking and assaulting a u.s. telecoms yanked its ads from olympic coverage other political leaders speaking out. opening ceremony creators have been denying any connection with the last supper, yesterday one french olympic sinker admitted it was modeled after the religious scene and another
12:33 pm
apologize, take a listen. >> it was never an intention to show disrespect to any religious group. if people have taken any offense we are really sorry, the head of the paris games called the ceremony quoting a probably over the top display of french and as for others, it was more a below the belt hit at long-held beliefs. get back to you. neil: i don't know the artistic upside would've been with us, regardless of your freedom of expression but it is what it is. thank you, great reporting as always, greg palkot on all of that. meanwhile waiting for the israeli response right now and worries of what they're planning an attack presumably in lebanon to respond to the weekend attack on largely kids and young people more than a dozen killed and hezbollah attack, the former idf
12:34 pm
brigadier general of israel defense and security, general always good to have you, not under the circumstances but the worry about whether this war is widening and i'm wondering if you agree with that it is widening in this act cemented that. neil: definitely, i think that we have seen in the last nine months i continuous fire between hezbollah and the idf, we reached a point where israel where we cannot continue the reality and 80000 people displaced, children brutally killed and no prospects it is coming back home and they are clearly looking devastating and we will do something today seems like there is no diplomatic solution and at the end of the day israel will be left retaliate and attack and change the reality the most and we need
12:35 pm
the big strategic change in weather that will be now in a month or two israel will have no choice but to go to a full-scale war against hezbollah. i'm just wondering you are quite prepared and our guest israelis except the bad pr that they get whatever they respond to the gruesome attacks that you cannot win obviously eukaryotic do what you have to do but then in the world to interpret as overdoing it in the criticism that you've gotten from the white house illustrates that, are you worried, do you have to factor or do you factor any of that in on how you respond to these things? >> i think we have to understand the basic facts that were dealing with the global war this is not just about israel, this is all iranian and the russians, chinese in the middle east. iranians are terrorizing all the
12:36 pm
country in weapon i yemen, syria this is not just about israel and the administration stand strong with israel and really does and who are the bad guys and we need munitions and support us and sustain the long war which is not about to end anytime soon, anybody who talks about wrapping it up bringing it and it is cease-fire is not understanding what extent the israelis are facing rear facing a set exponential war in the south and north we need american leadership in the administration to stand strong and were not seen that this is very bad for israel. neil: donald trump has said when benjamin netanyahu was here that his election would be key to ending this quickly he says it's
12:37 pm
very important to india quickly even from your prime minister he makes clear that this can't end quickly you cannot wrap it up and call it a day okay go on for years, do you agree with that? >> i agree with the prime minister i talked to the leaders in the south and they're talking about two years more in order to dismantle all of the infrastructure in gaza and the war didn't even start yet we have to go to work and push hezbollah out in all of the capabilities around lebanon and we have iran moving towards the capabilities and if they reach a nuclear bomb the whole global change everybody would be terrorized every single city in the u.s. will be out the danger of the crazy regime, we need to
12:38 pm
understand you cannot wrap up a global regional war it doesn't work like that we have a lot of ahead of us but if we really stand together and fight we can win decisively the change in reality for the future it will go into a third world war and we can see the first signs of this happening and the russians will continue to aggression the iranians will procure nuclear weapons and terrorize everybody we cannot be in the scenario we need to the globe. neil: thank you, godspeed on all the craziness it doesn't seem to end we will keep an eye on that and keeping an eye on the forest fires out west, they are so out-of-control an interesting story in the los angeles times, the cost of dealing with this could likely eclipse that are
12:39 pm
dealing with what were told will be a busy hurricane season, the edge goes to the fires it's still early but is still very much out-of-control. >> i have two cbp officers out of the door telling me i need to get out and i packed up what i can pack up in the car, me and the dog and i got out. neil: looking in the rearview mirror i was trying to keep my eyes on don't look back don't look back, in your head i might get my going to have something to go home to nice to meet ya. my name is david. i've been a pharmacist for 44 years. when i have customers come in and ask for something for memory,
12:40 pm
i recommend prevagen. number one, because it's safe and effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when the customers come back in and tell me, "david, that really works so good for me." makes my day. prevagen. at stores everywhere without a prescription. it's pods biggest sale of the summer is extended. save up to 25% on moving and storage until august 12 and see why pods has been trusted with over 6 million moves. but don't wait, use promo code big25 to save. visit pods.com today. [♪] can a personal loan unlock your ambitions? oh yeah. consolidate bad debt and save money for your next goal. take a swing at your kitchen reno... we meant that literally. or design your actual dream wedding. all your ambitions. all in one app. sofi personal loans. low, fixed rates borrow up to $100k. no fees required.
12:42 pm
12:43 pm
from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. with so much entertainment out there wouldn't it be great... 1-800-217-3217. ...if you could find what you want, all in one place?
12:44 pm
show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to pinity. neil: if you been wondering why president biden has been up to even though he took him self out of the presidential race is not beyond making history by wanting to revamp the super court of the united states, the speaker mike johnson in the house said it's dead on arrival in the house and what's causing the fuss, let's go to david spunt with more. >> president biden will make the announcement at the l presidentl library and even the president biden is making the proposals it's ultimately vice president harris who would see them
12:45 pm
through collected she will take on cheers and jeers that come along with a controversial proposal three big changes the administration wants to make no immunity for crimes of former president committed in office, term limits for supreme court justices in a biden code of conduct for the supreme court, the first will require a change to the actual constitution and the form of an amendment it comes weeks after the supreme court ruled former president donald trump was largely immune from prosecution in his federal trial for alleged attempts to overturn the 2020 election biden calls it know what is above the law amendment, the second proposed change term limits for justices, right now justices on this report enjoy lifetime tenure president biden wants that to change readiness of president supports a system which a president would appoint a justice every two years to spend 18 years and active service in the third and final change of biden code of conduct for the supreme court justices
12:46 pm
with the key phrase that is enforceable president biden said justices should not be exempt from the forcible code of conduct that applies to every federal judge, speaker of the house johnson as you mentioned said it's dead on arrival it is telling that democrats want to change the system that's guided our nation since the founding because they disagree with some of the court's recent decision this dangerous gambit of the hot under biden here's is dead on arrival in the house senator lindsey graham said the same in the senate, were waiting on the president to announce this today but ultimately this would be some sort of congressional approval because president biden is coming out with these ideas it does not mean that they will pass especially in six months is what she has an office. neil: thank you very much, california congressman. what do you use on this isn't this a potentially slippery slope for republicans upset with the liberal leaning court in some of the decisions that made it might ponder the same type of
12:47 pm
changes, what do you think. >> i propose this in 2020 before the dobbs decision and i think would depoliticize the court, every president would get to appointment in their term term limit is something that i supportive her house and senate members we had turned the mix with the president why not have term limits for supreme court justices the founders never intended people to be on the courts for 20 or 30 years. neil: the term limits is one thing he wants to look at decisions and essentially reverse them including this one constitutional amendment saying the president has criminal immunity in the supreme court decision wasn't that black-and-white, the reason i raise it is because when you dove into decisions and trying to reverse them by way of law that will overrule them that is a superior slope. >> that's a history of our country that is the 13th,
12:48 pm
14th, 15th amendment did. neil: this is part of revamping the entire court. >> i think the term limits which i think are common sense would depoliticize the court but i think it's common sense to say there should be criminal liability if a president does something egregious, let me give you an example of somebody says i'll give you a million dollars if you build a certain way. if i did that i would get tried for bribery why shouldn't the president have the same liability if the president takes an official act by getting money to do that they are clearly egregious cases where there should be criminal liability. neil: i guess we can go back and forth on this but i want to get your thoughts on kamala harris she's raising more than $200 million and much from silicon valley community that is your community as well. what do you read into that when you give a lot of money you expect a lot back what do you
12:49 pm
think silicon valley wants from her? >> shows momentum but she needs to be careful to be pro tariffs. it would be a mistake to repeal some of the tariffs to protect steel and aluminum and industry in the country and she needs to make sure we have a sensible antitrust policy and needs to be clear that she has confidence in lina khan and not appoint her because of interested donors. this is a crucial moment especially on economic policy and industrialization vice president harris needs to stand with those that we need to make things in america. neil: tariffs to shield industries, what about tariffs to prevent the chinese from hurting industries in this country like donald trump wants to do or not? >> i support strategic tariffs on china from jumping things into the united states i serve
12:50 pm
on the china select committee a scenario where president biden has followed former president trump's tariffs we've kept them on steel and increase them and kept them on aluminum and chinese goods being dumped into the united states like electric vehicles. i think the vice president should be very clear that she's going to support the strategic tariffs and not allow what happened for 40 years, the hollowing out of her industry because other countries were jumping she goods into the united states. neil: how do you feel about the switch that was made i haven't had the pleasure talking to you post swapping out, it was fast and orchestrated very quickly some say a couple in a conspiracy. every rule seem to be followed for this unprecedented move i'm not here to criticize it. i am here to wonder about the fallout and how democrats look disloyal and one bad pull in one bad debate even though it was an awful debate and you can be out on your heinie real quickly.
12:51 pm
do you worry about the precedent that was set and how it makes democrats look? >> i was out there defending president biden until the last day i think i was on tv on sunday afternoon in the press release came down that he wasn't running i did not like the way it was done i think the person who had 50 years of public service should have had the opportunity to make a decision on their own and he won the votes but the reality now are looking forward and there's no denying that vice president harris has a lot of momentum and no denying she's closer in the polls and she had acclamation. the reason there wasn't competition because everyone supported her she was very adapted coalescing support and will earn the rights of delegates. it's good to be a closer race but i think the way president biden was pushed is not something that i particularly condoned of. neil: congressman great catching up with you, thank you very
12:52 pm
much. >> thank you. neil: in the meantime talk about a close race in the dictator said that he won. he was saying this five minutes after the polls closed, after this. ♪ re r. r. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie? ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ jardiance! -it's a little pill with a ♪ ♪ big story to tell. ♪
12:53 pm
♪ i take once-daily jardiance ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seeee, ♪ ♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body to flush out some sugar. and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this infection, ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill with a big story to tell! ♪
12:54 pm
12:55 pm
so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp? i can't talk right now, i'm at a silent retreat. cashback on everything you buy with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours.
12:56 pm
12:57 pm
-how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo neil: venezuelan leader nicolas maduro sums a dictator has another six years in power but world leaders regarding his claims that he easily won the election this past weekend. it is a bit of a controversy to put it mildly, david asman understands this far better than i ever will. it is we are the rest of the world say not so fast but what
12:58 pm
you make of the tightness of the race that is claiming victory. >> it was not tight the day of the race, as of sunday morning i called them a dictator, maduro was down 25 points all of the independent polls that were done showed him getting really, really whipped badly by his opponent, suddenly he's ahead any claims he's ahead the moment the polls are closed and he keeps out pull watchers worldwide independent pull watchers he kept them out he's done all kinds of shenanigans of the passage nobody believes this is true that's why the biden here's had sanctions put back on him the one spectrum put on they took him away about a year ago but in april they put him back because he was keeping candidates off the ballot. we should mention who he is, hugo chavez was his predecessor he was the godfather of socialism.
12:59 pm
you want to use a film analogy the godfather was hugo chavez and radio is the current president he's kind of a secondary chavez but using theft to votes in the past and all kinds of crooked methods to stay in power. he could begin for a total of 18 years if he survives his third term because of the six-year term. it is looking bad and it affects americans because more migration from venezuela we are to have 8 million migrants coming in from venezuela and oil we were hoping to get a little bit of oil from what venezuela produces and probably now we will not get much of it. neil: i don't know if that factored in the oil sliding it might be other developers but what did you make of that. >> i think that was more of the fact that there was relief in terms of inventory et cetera that's why it went down. we are 185,000 barrels a day from venezuela, that is nothing compared to eight and a half
1:00 pm
million that we export in total. it is a drop in the bucket so to speak of the oil that we get. it should not affect us that much. but it could affect us from immigration there will be a lot more people saying i had it with venezuela, sayonara, i am out here. neil: any chance it could be overturned? he's the dictator. >> i hate to say about only violently, there have been protests are getting in the streets he is a bunch of hooligans working for him that loved history of violence and they did so last night. there were a couple of people killed already. if there is a popular uprising it is possible but maduro has so many guns and bullets he is everything in favor of him winning a war if it goes to the streets. neil: scary stuff, thank you very much your walking encyclopedia, oil down right now, the market is down right now waiting on a lot of things,
36 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on