we have linkedin's new list of the top startups to work for in a cnbc exclusive. and shatner, for real, on set. unbelievable it's thursday, september 6, 2018 "squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box. ♪ good morning, everybody. welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's look at the u.s. equity futures. adp coming out later this morning. could give us an indication of what to expect on friday from the government jobs report this morning you will see green arrows ahead of that right now it looks like we're indicated to open up by 25 points for the dow futures s&p futures indicated up by a

point. the nasdaq up by 8 points. we saw the dow close higher, the s&p lower. the nasdaq down by almost 100 points nasdaq was the underperformer as you had the circus taking place in washington. let's look at what happened overnight in asia. you will see the nikkei was down by 0.4%. hang seng off by a percentage point. the shanghai was down by almost a half percent in europe, right now mostly green arrows dax is relatively flat as well as the ftse. stocks up 0.25%. treasury yields in the united states, still sitting below 3% for the ten-year, 2.897%. president trump responding to an anonymous op-ed in the new york times by a senior

administration official who is being dubbed loadstar. eamon javers has more on the reaction >> good morning. it's an absolutely incredible moment in this already incredible presidency. the president now facing a near open rebellion from at least one person inside the administration according to an op-ed written by that anonymous person in the "new york times" that was posted late yesterday afternoon here's an excerpt of what that person wrote about the president of the united states signifying there's a group of people in open opposition to the president inside the administration. though he was elected as a republican, the president chose little affinity for ideals long espoused by conservatives, free minds, free markets and free people at best he has invoked those ideals in scripted settings. at worst he's attacked them outright this official writing that the president is an enemy of freedom itself it's an astonishing charge made

against the president of the united states made in an unprecedented format the president responding in kind the president posting on twitter, one word, treason then also this does the so-called senior administration official really exist or is it just the failing "new york times" with another phony source if the gutless anonymous person exists the times must for national security purposes turn him or her over to the government at once we are left with a conundrum in washington, d.c. which is who wrote this and what did they intend to happen as a result of this i use the word astonishing again and again, but that's where we are. this is something that we have not seen in washington, d.c. before it indicates that the president has a significant problem on his hands. >> legal question for you about this anonymous writer. if, in fact -- there will be a hunt for them. some will describe it as a witch hunt if this person is found out, are

there real ramifications beyond being fired? >> well, right presumably the president would instantly fire anybody who he could determine wrote this but are there real ramifications? the ramifications for the president and for the presidency is that there are a number of officials, according to this op-ed, who are in near open revolt inside the administration against him personally and against parts of his agenda. this person describe the the president as impetuous, adversarial, petty and ineffective and cites the president's amorality and that members of the cabinet discussed at one point or members of the administration discussed invoking the 25th amendment which has never been used before >> that was the most remarkable about the whole op-ed. >> we don't know who these people are right off the bat it gives a lot of people that are on the other

side of this, it's like wow, there really is something going on, i don't want to call it deep state but people trying to undermine the presidency right from the beginning >> you're not paranoid if they're actually out to get you. >> s.a.o.s, senior administration officials, 1200 have to be confirmed by the senate 620 are seen as high level i have a lot of faith in the "new york times. i would hope that it rose -- i hope it's not an obscure individual that is in the weeds somewhere in that 600 that -- i hope it's a name we heard of the loadstar, that's not a word i use. i might use it now >> it's in the culture now >> after being at cnbc for 26 years, i'm a loadstar. the polaris, the guiding star. >> i see you that way myself

>> i may start using it but it's not that on cure if this is an on cuis an obscurn they decided to highlighted, i might have a problem with that >> the "new york times" had to know that going into this. this is a dramatic thing for them to do >> it's probably not jared people want it to be pence not all people but some people want it to be pence because he used that word recently in a speech written bay speech writer. i have all these people. >> pence is the one person that the president can't fire >> there's other clowns going out there going my prediction is it's the speech writer -- because they read the same article all of us read >> loadstar is the rosebud of this scandal it means everything and it can mean nothing >> we will find out, though.

the only way you keep -- >> tucker carlson last night said he knew >> that would be fast. >> you can't use loadstar as -- >> the question is does this rise to the levelof a constitutional crisis, which is the term that people throw about a lot, i don't think it does rise to the level of a constitutional crisis, but it could be described as an unconstitutional crisis in this sense, you have between the woodward book and this op-ed, you have an indication that there are people within the president's administration actively trying to thwart him. >> there's been leakers all along. >> that's different. it's unconstitutional in the sense that these people are using tactics not in the constitution to thwart a

president. >> as a point of -- >> this is something unconstitutional >> just to add on to that -- >> this is an am tradministrati rebellion. >> there's been leaks out of who white houses for efeternity. every bob woodward book you have ever read included all sorts of people who said all sorts of things that i'm sure the president at that time would have been unhappy about. you were saying the content of this is confirmatory of the books and all of the other writings that we are seeing. >> i don't think it confirms anything other than the people who lost the most recent election are having a hard time -- >> this person is clearly a conservative >> this person is a trump -- >> you heard of a guy named bill krist kristol? the never trumpers, 97% of them

are republicans. >> have somebody who worked in the white house -- >> out of 1200 >> trump may not even know this guy. the "new york times" better have checked that this is not just someone in the weeds out of 1200 that they get to write that. >> i don't know who this person is i can't -- i have to -- >> if it's not a high-profile senior level person -- it has to be someone that -- >> my guess would be that it is. we'll find out eventually. >> the times wouldn't do this -- >> let's hope not. >> they wouldn't do this without it being somebody significant. not just a deputy undersecretary >> the real concern this raises is that this goes to the issue of command and control within this white house >> there's nothing new you have people actively trying to undermine him and thwart him in the administration, it raises the question of who is in charge

here of the united states government >> what facts in the op-ed in the "new york times" took it further than what bob woodward or michael wolff has already done >> it confirms all of that >> how does it extend it >> people inside the white house trying to thwart the president and that raises the question of who is in charge here. >> he has 100 hours of tapes within the white house who are saying what this person is saying so what's new? >> the new revelation is that people inside the white house considered the 25th amendment to remove the president of the united states. >> so says this person >> we all learned about the 25th amendment over the last year we heard it mentioned again and again and again and again. which is sort of a little

strange that we've been talking about this guy not being legitimate, efforts to remove him from day one from day one >> the other issue is that it must ratchet up the pressure inside the white house on president trump himself, who if he was anxious about feeling let the people -- the people around him trustworthy -- >> what was this person hoping to accomplish? if you're running a conspiracy, you don't talk about it. >> whatever they claim to try to do will be undermined writing this up. >> they have this high-minded notion that they're trying to save dem democracy

>> is the loas the loadstar of network -- >> you're a load >> i have to take a load off eamon javers, thank you. >> back to the markets three guys are here. ed three loadstars i think there can only be one loadstar it's the star that a ship uses to navigate. typically polaris. >> there can only be one then. two of these guys are fixed incouple juli julian, do you want to be loadstar >> if you're offering, i'll take it kevin giddis from raymond james

and michael gapian from barcl s barclays our first round draft pick for a center if we have a "squawk" basketball team. he's about 6'1'116'11". >> the nasdaq got dicey yesterday. topee? september? season factors is this a time to be concerned that we have seen the best levels or not? as the loadstar, what do you think? >> we don't think the bull market is over we think there's a potential for september to be seasonally weak. as you think about tech, when you're having executives talk in front of congress, we saw it earlier in the spring, the markets get a little bit jittery. when you go back to earlier this

summer there were reactions to earnings that created volatility for us the rally is not over technology is not over, but people are more selective. as we look towards year-end we think that some of the lagging areas are likely to work such as financials and energy. >> michael, sometimes the most obvious things are what actually happened i want to -- bonds are in range. 2.75 to 3% the economy is growing at 3% there's some things that could disrupt this, whether it's trade maybe or something else. i think that things -- the way things look, it's obvious -- you don't need to go much deeper than that to figure things out is that right? >> there's a lot of headline noise, but underneath that the

economy is doing fine. we think you'll see that again on friday with the labor market report it's been a consistent performance of the fundamental side take the trade story out of it what's come out of consumers and federal spending, the signal out of the labor markets the domestic economy is doing fine despite the headline noise. >> jj, we had two fixed income guys you don't -- at this point, you don't see inflation rearing its ugly head in a huge way. that would be the -- the wrench in the works, would it not >> yeah. you laid it out perfectly. >> i did as a loadstar. >> my time is done based on what you said >> i shouldn't have read your notes, i should have just asked you questions. but sometimes we look much deeper at things, these are just -- this is fairly obvious now, isn't it? >> bonds and treasuries in

particular are buoyed by the uncertain uncertainty. the news that everyone is talking about is worth less than a basis point to the ten-year over night and even now we are range bound. friday's numbers will give us another shot at average hourly earnings but at one-tenth to two-tenths it won't push the needle if we approach 3% total on the average hourly earnings, then there may be a different story on the flip side we're almost guaranteed to see the fed act on the 26th then it becomes less sure between september 26th and the end of the calendar year while there's no magic to that, there's still a chance that the fed will remain hawkish or become hawkish that could put pressure on long end yields until we see inflation, i don't see us busting this range. >> jjulian, have you constructed

a chart that shows an inverse relationship between the s&p and trump's disapproval rating >> the president addressed the stock market and how the stock market rallied throughout the administration to us it's more than coincidence that his disapproval rating grinds slowly down as the market gets to new highs. >> so now the disapproval rating is back up and that's a concern for the s&p? >> it's just something to take note of. when we look at near-term, being two fixed income guys this makes sense, the bond market has been stable that's been a definite positive for equities there's always a threat that if this trade war intensifies, and who knows what the political dynamics of the last 24 hours are going to be, it may actually

make the trade war back off. however china could sell treasuries >> you guys have to go to work today? >> yeah. >> you know who is on later today. >> william shatner >> you know if you goggle william s. -- >> he's first one who comes up >> william shakespeare does not come up. that man i've been talking about him -- i think that on his travels to those other worlds he found the foup fountain of youth. what happened? >> you're right. shatner before shakespeare >> thank you for coming in when we come back, there's more jobs than available workers in america if you're looking for an upgrade, we can help

linkedin has a new list of the best startups to work for. we'll unveil that list next. right now as we head to break, let's look at some of the biggest premarket winners and losers in the dow. apple is leading the way it's up by a half percentage point. this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands, 6,000 feet above sea level. but how do you really know that the beans journeyed to the port of mombasa and across the pacific?

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in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. linkedin out with its second annual list of startups where professionals want to work the most topping the list is ridesharing company lyft lyft leads the pack. we're talking lyft hq, not lyft the car. >> these are engineers, community managers any time lyft puts up a job, there's so many applicants

think the roof >> why and how did you make the list >> four different criteria, job growth, companies hiring the most, tons of applicants, engagement around the company, how many non-employees are looking at the company and looking at the employees of the company. the last one is how well they're able to suck up talent from the top company. how well do they displace people >> is lyft doing well because its competitor has been under so much pressure? >> no they're both doing well. uber was number one last year. they're too old for the list if you look at other brands, lyft is a known brand. a lot of brands are surprising to me, like luggage, like baby wa warby parkers.

>> how much of this is about getting in on the ground floor of a company that you think is going to ultimately go public and getting the currency involved in that in terms of compensation >> it's not a big part of it >> really? >> yeah. it's taking longer and longer for these companies to have ipos the employees and people who are deciding to work there are doing it for the challenges. he would talked to a lot of people who work at these companies. thinking i might get rich run day one day is a help, but they're looking for this kind of -- employees want plexibilitflexib. they don't believe in the career ladder anymore there's no idea i do in, i move here, i get rich it's this, i get a bunch of skills, move to bali and work

from there >> coinbase is number three. >> the cryptocurrencies are pulling talent from wall street. they're bringing this brand of hopium, hope and opium >> wall street is not on this list >> all the wall street companies that make the list are all crypto companies, or robinhood is on there. it's not straight crypto, but there -- >> is there a classic fortune 100 company on this list >> i think that some of these companies will become fortune 100 companies. there are a number of self-driving car startups. one of these guys will break through. maybe all of them. some of these companies -- we'll look back on this list and say yeah, we knew them when. most of these companies we'll say do you remember those guys a ton of movement. >> fair enough dan, thank you

>> thank you tune in to "power lunch" today where they will talk with halo top's ceo justin woolverton coming up, the skills gap. we'll show you how one software company is training a new generation of workers starting in middle school. and it's jobs week in america. we'll bring you the adp payroll report at 1815 a.8:15 a.m. east. shatner is in studio here? as we head to break, a look at yesterday's s&p 500 winners and losers ♪ i think that she's a very nice girl...

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welcome back you're watching "squawk box" live from the nasdaq market site in times square. good morning the "new york times" publishing an anonymous op-ed entitled i' part of the resistance inside the trump administration the newspaper says it was written by a senior white house official the president calling the attack

gutless and and treason? we'll discuss that more in a bit. and china's commerce ministry saying china will be forced to retaliate if the united states implements new tariff's measures. this after the threat to implement another 20% tariff on 2$200 billion of imports. bitcoin is down big this morning on a story we told you about yesterday. goldman sachs rolling back its plan for a cryptocurrency desk bitcoin, which was about $7,000 when we talked about it yesterday, now down to about $6,300 ether also falling the goldman sachs desk had given the cryptos credibility, thinking it would be normalized. u.s. equity futures at this hour, this is the way the market looks like it will open.

higher dow up about 19 points the nasdaq up 7 points joining us now is bill primer, highland software ceo. highland is a company based in ohio thanks for being here today. >> thanks for having me. >> there's a cover out saying peak valley, questioning whether kill son valley has taked at this point and whether it's time to rise with the rest of the other technology companies what do you think about that based in ohio? >> we didn't intentionally avoid being based in silicon valley. our founder was born in ohio so maybe for us that was an ideal location to start and grow a software company including the

cultivation of tech talent which, you know, ohio is not necessarily known for that >> though you yourself have found what so many companies have toll us, there's a skills gap between the jobs that we need people for and the skills that students have you're working hard to try to change that. >> there might be an immediate skills gap in terms of a ready made work force to come into a company like ours and start developing content services software there is certainly the talent pool and the aptitude and some fantastic college and universities with -- >> case western? >> case western is there we recruit heavily from there. also cleveland state, ohio university, university of akron, ohio state with great computer science, computer engineering, business programs. we're going to the extent of encouraging our local students to apply and enroll in those

programs as you mentioned at the break, we're starting at the middle school level >> amazing >> we're taking a proactive, long-term approach to sort of cultivating a technology work force. >> you deliberately don't mention xavier cincinnati, just browns/bengals thing. >> you're from -- >> cincinnati. great school hoops. uc has gotten better >> uc, badayton, great programs down there as well we're part of encouraging students to enroll in those fantastic programs we'll do a whole series of field trips. we invite probably last year more than 100 middle schools came in to tour the facilities see what a software company is about. see the things we're developing. we're inviting those students to

come back to a technology camp we're teaching them about the computer industry, general hardware, software then we'll invite them back in the later high school years to come to a coding camp. by this time they're really interested in pursuing this as a career they enroll in those programs. we get them back as interns. i was talking to a class of interns. i will talk to them at the beginning and end of every summer the one young man was from cleveland state university i said how did we come into contact? he said i first came here as part of my seventh grade field trip so this is his second summer back with us we invited him back once we'll almost surely offer him full-time employment upon graduation we're -- again, the long-term strategic view to growing our own work force and not banking

on a ready made work force to come into highland and say hire me >> that had been in the works for a while. why did it start >> we're based in cleveland. so while today a growing number of technology -- or technologists, still not a hub for software developmental lent. we realized we would have to grow it and groom it that includes once you're at highland coming out of university you have some programming skills, but you don't have experience. so then we've got to develop that on the job. that's going to take a concerted effort to do that. training on technology. >> what's the cost >> it's hundreds of thousands of dollars, to that point it's important for us to retain them.

>> that's what i was going to ask you. >> we have to keep them. that's the other side of the coin are you building a company and a culture that's very employee-friendly so we can keep that retention very high our retention is in the 90% range. a third of that is people who choose to leave us voluntarily >> how is business this year compared to last year? >> business is strong. business has improved. we had a large acquisition about this time last year, big integration effort so that took a lot of work. so far sales are up 9% this year >> did the tax thing do anything for you? >> it may have, but i think the larger trends are driving adoption of software >> do you have to pay people more to get these people now are wages going up at highland

>> wa little bit the fact we're the largest software development company in our area probably in the state, we are an attractive place to work, to build a career. your previous guest was talking about career progression we're mindful and good at that, i think. you know, we have a bit of wage pressure, but it's not considerable yet >> so you know that, ochocinco changed his name to his number why can't you change your name to premiere. assoftware -- >> it has a nice ring to it. >> it does it will take very little for job security you are the premiere software executive in ohio. >> i'm trying. trying to be >> i think you achieved that >> bill, thank you for coming

in >> bill primier. >> it is a jumble. >> just move the "i" over. >> thank you very much >> we've been doing there too long we see everything as a jumble. we've been playing since 2006. >> i'm trying to stay sharp. >> bill, thank you. when we return, more fallout from the trade war we'll talk about the impact on calgary where 88% of exports go to the united states. and at the top of the hour, our guest host will be larry bossidy. and later we will talk jobs with oscar munoz. stay tuned more to come

welcome back to "squawk box. we will be watching tech stocks closely this morning after yesterday's selloff. nasdaq dropped 1.2%. shares of twitter and facebook

fell as jack dorsey and sheryl sandberg testified in front of congress i thought they actually made it out relatively unscathed i thought they did a pretty good job across the board >> no big slip-ups >> there's been anxiety around the department of justice and some comments there. separately netflix down sharply. it may have been a reaction to a report from a morgan stanley analysts that apple's video service could generate 5$500 million just next year and $4 billion by 2025. an then the news that bernie sanders is is creating what he's calling the bezos act,taking a huge shot at amazon's jeff

bezos. they're saying bezos is a rough acronym for stop rough employers by zeroing out subsidies i thought it was a joke when i first read it. >> you have to be conflicted about this >> i -- >> you love amazon and bezos to some extent i think you like capitalism >> i do. >> to see one of your heroes -- >> who's that? >> to see bernie -- have i got that wrong >> you got that wrong. b . >> but you're conflicted >> i'm not that flikteconflicted >> this is why when you go into the "new york times" people throw stuff at you you're the alex p. keaton. >> this creates a problem in a meaningful way >> it's hilarious. i love bernie.

bernie is a poster child for not -- >> he went after jeff bezos specifically for saying how much he makes an hour i think jeff takes in about $85,000 a year literally his salary is not -- all of his money is made in stock. >> he held the shares. >> bernie wish this was founded in europe or china does he like that they employ all those people and created $1 trillion for shareholders and market cap they have driven down the costs of goods >> not if you read this act yesterday. >> it's disrupted retail, but many people benefited from cheaper prices >> no question this one you will not get a big debate from me on. >> you're not conflicted >> i feel no conflict. >> too many times i think i just -- >> pigeonhole him. >> i'm wrong i apologize for that >> save the tape, people

>> check this out. commuters at a london train station yesterday were treated to a surprise musical performance by actor jeff goldblum he is releasing a jazz album speaking of actors, we will be joined at 7:40 a.m. by the multi-talented renaissance man, william shatner. william shatner will join us google william s., shakespeare is on the fourth page. shatner comes up immediately >> shakespeare is two. >> i know. >> but william shatner is one. impressive >> not bad to supplant shakespeare. when we come back, fallout from the trade war we'll talk about the impact on canada next with the mayor of calgary. also as we head to a break, let's check on what's happening in the european markets this morning in the early trading france is slightly higher.

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welcome back.

nafta negotiations still under way. canadian officials maintaining that there would be very little room for compromise on the country's issues. here's the mayor of calgary. good morning to you. >> good morning. >> we'll take third largest city. third is better. tell us where you see the negotiations stand right now. >> i was having a great summer. calgary was named as the best city to live in, fourth best in the world. then nafta, then the court decision on transmountain, so things have shifted a lot. we've got an incredibly smart negotiator in our foreign minster. she knows, she's tough but she knows what its going to take to make a deal. so i know that we'll get there. >> have you felt any impact already? >> not yet. >> what are businesses telling

you? >> we're very focused, of course, on energy. we're much more focused on the decision around the transpipeline that came out last week. we know there always be free flow of energy between the three countries. its way too integrated to try to take apart. that said, so is the auto sector -- its unclear when you're deal with a negotiating partner who -- >> speak to that, though. how much of this is about economics or about ego given some of the comments being made? on both sides, but clearly obviously you heard president trump's comments, he says they were made off the record about how he was approaching this, but kristin said a number of things as well. >> there's always politics in these things. i get to be a nonpartisan guy. of course, there's going to be politics. the important thing to remember is the president's not in the

room and while the minister in the room from time to time, there are professional negotiators there. and so i think the best thing about missing that deadline last week is, in fact, the fact that we can take the glare off a little bit -- >> if you're still up against the hard deadline. this needs to get done before there's a change in the president of mexico, before you have a new president who comes in who's not looking at this the same way. you're optimistic, but are you worried at some point, too >> that was kind of a fake one. there's a reasonable one now at the end of the month. you can't say to somebody on wednesday you got to sign something on friday that has trillions of dollars of impact. i suspect will get -- every party will walk away, i could've

done a little bit better and that's the sign of a good negotiation. >> do you have a plan for calgary stampede -- i think you could get 2 million visitors its the greatest outdoor show in a year and its ten days and its -- everything that you think about with rodeos and outdoor sports and not enough people know about it. >> you're absolutely right. >> do you have a plan? do you have a ten-point plan to get this out you could get 2 or 3 million there. >> you're giving me a great platform now. with the strength of the canadian doctor not being that strong, our tourism has gone up. we would love to see way more people come to calgary for the stampede. its a really wonderful place. i would encourage everyone to come check out and visit calgary .ca. we can talk business.

>> pretty good question, wasn't it, andrew >> its okay. its okay. >> i'm the lone star. >> just talk energy for one second and the pipeline and where that stands. >> it was a tough week when we got a federal court decision suggesting there were a couple of hurdles that had not been met in the approval of the pipeline. we've got a federal government who are absolutely committed to getting this thing built and what that court decision did was actually gave them a checklist, not just for this project -- >> how long does it extend out the timeline >> a few months. the judge's ruling if you read it is really narrow and she seems to think that this will be a couple months delay. i think that's overly optimistic hopefully less than a year. >> then it becomes more expensive? >> of course. >> what's the cost >> we're not adding huge numbers yet. construction had begun. that had to be suspended.

we're looking at a $7 billion project. its important to have that certainty for future investors to come in. >> thank you for joining us. >> thank you. >> aren't you jealous of calgary? they have this mayor -- >> you know what, new york's doing just fine. >> you like the mayor? >> new york is doing just fine and apparently you do too, i'm told >> i don't know. i don't know. coming up, i'm already paying taxes. our guest host for the rest of the show, larry bossidy. your muscles look good, but we should be seeing more range of motion. i'm fine. okay, well let's see you get up from the couch. i'm sorry, what? grandpa come. at cognizant, we're uniting doctors, insurers and patients on a collaborative care platform, making it easier to do what's best for everyone's health, every step of the way. you may need more physical therapy.

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mystery inside the white house, "the new york times" publishing an anonymous op ed trying to undermine the president. reaction is straight ahead. back from the brink, its been ten years since the financial crisis and just before wall street was rocked main street was dealing with a housing crisis. a look at freddie mac and fannie mae then and now. plus captain kirk goes where no man has gone before -- >> i'm home! >> actor william shatner joins us to discuss his new memoir, live long and what i learned along the way. ♪

announcer: live from the beating heart of business, new york. this is "squawk box." good morning, everybody. welcome back to "squawk box" on cnbc. we are live in times square. i'm becky quick. our guest host today is former honeywell ceo and cnbc contribute larry bossidy. we got much to talk about. let's start with u.s. equity futures. you'll see some modest advances. you'll see the dow futures -- we're giving back a lot of those gains. up by one point. s&p futures are down by two points and the nasdaq off by one point as well. yesterday we saw a mixed picture where the dow was up but the s&p 500 and nasdaq were both down. nasdaq was the big decliner yesterday. a lot of concern about technology stocks. we'll talk more about that in

just a bit. let's get you caught up on today's headlines. a key economic report is a little over an hour away. economists are expecting 190,000 new private sector jobs for the month compared to 219,000 back in july. two major health industry deals are close to gaining antitrust approval including to the "the wall street journal." the regulators are set to approve the acquisition of aetna by cvs and cigna's plan purchase of express scripts. you'll recall that anthem's deal to buy cigna were both terminated in the face of antitrust roadblocks. the justice department and state attorneys general are planning to meet this month. doj says the meeting will center on whether social media platforms are stifling the free exchange of ideas of the this comes after a day after sheryl

sandberg and jack dorsey testified on capitol hill, although neither company was mentioned in the justice department analysis. "the new york times" publishing a rare op ed column i think unprecedented from an author -- from the paper -- who the paper identified as a senior official in the trump administration, the piece titled, i am part of the resistance inside the trump administration was published late yesterday. eamon javers joins us now from washington. i retweet your weekend tweets but this is the first time i've retweeted some of the other stuff. i was gratified by one of your recent tweets. instead of a constitutional crisis, its almost an unconstitutional crisis from the way some people within the administration are acting at this point. >> we discussed this earlier in the broadcast, joe. the idea here is the constitution provides a way for the establishment washington to deal with the president that they have concluded is unfit for

office. one is for congress to impeach the other is for the cabinet to invoke the 25th amendment that requires a majority of the department officials to in theory vote to remove that president, but what we're seeing here is something different. this is administration officials, if you believe the op ed in "the new york times" who have decided that the president is at least in some cases unfit to carry out his duties and they're working against him of the that is an unconstitutional remedy in that is not a remedy envisioned in the united states constitution. look at this excerpt to get a sense of what this official is arguing here about the president of the united states. he writes, given the instability many have witnessed there were early whispers within the cabinet of invoking the 25th amendment which would start a complex process for removing the president but no one wanted to precipitate a constitutional crisis, so we will do what we can to steer the administration

in the right direction until, one way or another, its over. the president yesterday responding in the east room of the white house within minutes of the release of this, within an hour, i would say. the president responding with some anger. here's what he said. >> we have somebody in what i call the failing "the new york times" that's talking about he's part of the resistance within the trump administration. this is what we have to deal with. the dishonest media because you deal with it as well as i do. its a disgrace. >> the president now has a challenge unlike that faced by maybe any other president previously. somebody inside his administration announcing to the world that there is a group of administration officials actively working to thwart and contain the president inside his administration at a time when we saw the bob woodward book come out and excerpts from that showing that officials are

ignoring the president's orders, stealing documents from his desk and otherwise trying to contain his control over the administration. the question is how will the white house respond to this other than this eruption of anger we saw yesterday. >> get down to brass tax. 1,200 saos that are senior administrative officials -- the senate has to confirm and then i saw number 600 that are very senior that -- what's the cut off for where i don't sort of question "the new york times" -- "the new york times," our premier media institute, when do i question and start to worry about their reputation is it top 30 does it have to be top 50? top 100? does vice president pence's speech writer, do i care that he has ordained himself as the savior of democracy in our country and is the one person that's going to save us from an elected president, some

appointed official that writes speeches, is that go to the level? is it top 30, top 50 what do you think? >> there's a lot to unpack there, joe. start with this, the vice president has issued a denial this morning -- >> that it was him. >> its not jared. ivanka, unlikely, i think. >> here's the thing. in journalism generally in a newspaper article, the old joke in washington is a senior administration official is any official who talks to me as a reporter. >> right. >> they are the titles of the people who are leaking in order to make the article seem more credible. you call that person a senior administration official. i think that can happen in washington journalism. in this case, though, you have to assume that "the new york times" knew that it was dealing with a political knew tron bomb here and so they would have to have -- >> here's the question, joe. every time we have -- why not

deal with the substance of what's being said in this -- >> because we could've done with michael wolff, why didn't you deal with it in his book >> we tried. >> okay. >> let's bring in walter -- >> do you impeach? how do you deal with it? >> how do you deal >> don't shoot the messenger. let's deal with the message. >> we had the message yesterday from -- >> we heard it from woodward yesterday. >> mike allen just did move this forward. >> mike allen moved it forward this morning by saying he's been called all last night that there are dozens of people in the white house telling him -- >> one of them said there are dozens. >> that has the smell of truth to it. there are dozens. >> what is the truth the fact that he operates unconventionally everyone knows that. >> i think if you read that op

ed, its more than quote unconventional. >> immoral >> was bill clinton or amoral? >> was it every time -- every time we have this conversation about morality it gets -- we somehow turn it into a competition between president trump and bill clinton. >> he changes his mind really quickly and we had to give him a summary on hezbollah. none of those things seem like the end of the world. >> did you read the op ed? it says that he is off the rails -- >> who wrote the op ed, walter what if its a guy who's 150th. >> i would agree with you that "the new york times" shouldn't have printed it if its a total nobody. >> bill crystal could have written it. any no trumper could have written it. >> you and i know that in the guessing game we've had in the past day, there are at least a

dozen people, even people who work at the white house think it might be this person. >> some of this is not new, reince priebus told me for the new chapter in my paper back that take everything you know and multiple it by 50. this is not the first time that people have had to take papers off the president's desk. nixon had to be talked off the ledge. this is not -- this is not a michael wolff, this is not bob woodward, this is somebody at the highest levels of this administration. we don't know who it is, but you can be sure the "times" wouldn't have gone with this unless it was somebody who was very high ranking. that doesn't mean that this version of events is true or that this portrait of the white house is true. we'll find out. i think that we're going to know who this person is probably sooner than later. >> that would be my guess. >> it was 30 years before we learned that deep throat was

mark felt. >> what are the ramifications for the individual >> well, if its a senior enough person it could go either way. you could have bob bar net getting a book deal or the guy could be humiliated. if we find out who it is, they'll be a mass group of people, six to 12 people, all at once coming forward. >> my guess is, it'll be both. you'll be celebrated in some circles and humiliated in others. >> what do you think the consequence of this is >> it'll blow over -- >> it means kavanaugh's not going to get confirmed. >> maybe not. it depends on whether we learn this person's identity sooner rather than later. i think -- this is the most famous -- could become the most famous anonymous piece since george kenen's long telegram in 1947 from the soviet union. he was warning us to contain the soviet union. this person is saying that donald trump has to be contained and i think it may go down in

history as one of the most famous anonymous pieces ever written. >> it is an accumulation after a while. the weird thing is, these things accumulate. we kind of already knew that. the bob woodward book too is filled with a lot of things that are very credible. woodward does not make up quotes. he is -- never been proven wrong in any of his books -- >> you saw all the woodward quotes, what's the most disturbing revelation about trump in the woodward book >> there was nothing in there that i hadn't heard before. >> what's the most disturbing? can the republic go on knowing that >> what's been the consequence of all this stuff? the administration goes on, he's got good things done. this is an unconventional, even bizarre guy, but on the other hand i don't see anything coming of it that's going to be of a disaster's nature. >> eamon >> i just wanted to pick up on your point about who this person

is and how will he be per sooufd or she will be perceived. is the right analogy deep throat a more or less heroic figure operating behind the scenes. is this an evil figure operating behind the scenes? that's still to be determined. >> you have a very polarized society and i don't know that there's going to be one viewpoint for this person because you have just different views and people who will look at this as treasonous. >> people within the administration all along and you got 63 million votes and he's never been seen as a legitimate president by 50% of the people in the country. i don't know whether that's something we should be proud of that we're in that group or whether you should feel like, give it a rest, the election results were in. how long can you -- whether its

russia -- >> its not about whether the election results are in, its about whether the operations of the white house are of effectual and being done in a proper way and clearly there are people inside who don't believe that they are. >> there's a command and control question here, andrew. who is actually in command and in control over at the white house? if aides are ignoring his orders, stealing documents from his desk -- >> this has nothing to do with the election. the day-to-day operations of our country. >> what did mr. anonymous here intend to accomplish with this, right? is this about getting the votes for the 25th amendment or getting the votes for impeachment? >> people in trump's camp are going to point to this as another -- >> you're absolutely right on that. >> andrew, you said maybe trump wrote it himself because its going to totally emboldened and galvanize people that say there's a cabal of never trumpers that wanted to subvert

a duly elected president. >> is there ever a moment where you think to yourself maybe there's something in there that i should think about >> do i -- am i worried about an impetus president that changes his mind all the time? no i care about gorsuch and deregulation and tax reform and new highs in the nasdaq and s&p. i care about if hillary had been elected where we'd be right now. they're mean tweets and he doesn't listen to people. if it comes home to roost with the nuclear war, i'll care. >> you care a little bit about character. i know you. you judge -- >> did you write all these articles about bill clinton for eight years? did you ever hear juanita broderick? didn't you like the economy under bill clinton. >> i cared about character then. >> you were in the clinton news network. i don't are you caring about clinton. >> that has nothing to do with

what's happening now. >> now it has nothing to do with it. >> when i was at "time" magazine, all those cover stories on monica lewinsky -- >> on the other ten that are mentioned? >> no. this is something -- you ask how its going to effect people. you're right. the hard core of trump supporters may not affect them. but what it will affect is a whole lot of people that feel, okay. this is gone on too long. this is exhausting. we don't need this. >> there's another analogy here, during the last days of lyndon johnson, he was clinically paranoid and that ended of course with johnson deciding not to run again, but some of donald trump's behavior is reminiscent of lbj at the during the darkest days of vietnam. >> again, we'll find out in november how the general

population views all of this. gentlemen, thank youvery much for joining us today. walter isakson, we appreciate it. >> okay. we got a lot more coming up on squawk. its going to get heated. we'll be back from the brink. we're getting ready to mark the ten year anniversary of the financial crisis. we'll hear from financial services committee chair jeb ckn hearng ba ia moment. need a change of scenery?

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in many cultures, young men would stay with their families until their 40's. we are approaching the ten year anniversary of the financial crisis but right before the fall the government was dealing with fannie mae and freddie mac. diana olick joins us with more on what's happened since. diana. >> reporter: when the subprime mortgage market collapsed a decade ago fannie mae or freddie mac backed -- nothing like it does today. >> everything worked in a housing crisis that people say could lasted for decades lasted for several years and home prices quickly started to regain value. if anybody said that these saw this in 2008 or 2009, i think

they're kidding themselves. its been remarkable. >> reporter: under government conservatorship fannie and freddie drew money from the treasury but were required to pay any profits back to the government and ten years later uncle sam is reaping the rewards. they drew $194 billion from the treasury and so far have paid 279.7 billion back, a net profit of $88.3 billion and they continue to pay. some argue that profit is part of why congress and the administration have done very little beyond offering proposals for reforming the mortgage market. >> the taxpayers are the ultimately vulture investors here. we bought low when nobody else would come in and as a result taxpayers are reaping the rewards. >> reporter: so where does all the money go back to the government in general. any programs in the end it just means the government has to

borrow tloes fund itself even as fannie and freddie shrink their portfolios. the profits just keep pouring in. much more on this on cnbc.com right now. >> thanks. joining us right now to talk about fannie and freddie and reform is representative jeb hansarling. good morning. >> good morning. >> his op ed ran in the "the wall street journal" -- >> is that anonymous >> i'm pretty sure its not. >> they spelled my name right so i'm happy about that. >> its the journal not the times. >> just take us back ten years for a second before we get into your plan and what you want to do about this. when both of these companies were put into conserve torship, i don't think anybody thought ten years later they still would be. did you? >> no, i didn't. there's been a handful of us who have labored in my case for 16

years to try to get rid of the government guarantee and the secondary mortgage market. we don't need it. its not helpful. other nations do not have anything remotely resembling a fannie and freddie and they have comparable rates of home ownership. we didn't need it and after the crisis, no, i never would have thought through multiple congresses and three administrations we would still have them. i heard the report leading into this interview. i don't know necessarily see it this way. we're having a hearing later today in my committee, the house financial services committee, among others we'll hear from the former director of fhfa who was the regulator for about four years. we'll hear from ed pinto, a former risk officer from fannie mae. risk or once again building up within fannie and freddie.

we still essentially have a government sanctioned monopoly that still controls roughly 99% of all mortgage securitizations. once again insuring loans with as little as 3% down. they have multiple scandals. as i said in the editorial, its deja vu all over again. >> congressman, for those who haven't had a chance to read the editorial, explain real quick what your solution is? >> number one, i don't believe in a government guarantee. i've offered legislation to get rid of it. i'm going to do it again today for no other reason, it makes me feel good. i've always fought this battle unsuccessfully for a number of years. i'm offering along with my democrat colleague, we're offering a compromise plan and so it recognizes it would codify into law the government guarantee in the mortgage backed security market and it would do it through ginnie mae which

currently puts a government guarantee on va/hfa housing. >> what would that do in terms of the subsidy or the redistributive benefits or effect of what fannie and freddie put on the table today >> here's what we're trying to do, number one. we're trying to disburse risk. we are attempting to ensure that we have lots of private capital in the system and put the taxpayer in the catastrophic risk position only. in addition we're trying to create a common securitization platform, accessible by everyone in the market, so whether it be a big lender or small lender, bank lender or nonbank lender as opposed to this choke hold we currently have is over a five year period we phase out the government charters of fannie and freddie. we use the current system of ginnie mae which has 400 issuers

as opposed to two. we divide, buy fur kate the issuing and the guarantee function that currently fannie and freddie does together. the whole idea is bring in market competition, bring in innovation, disburse risk. i'd like to get rid of the government guarantee but i have to take the political battlefield as it is, not how i'd like it. >> larry has a question for you. >> congressman, i think your suggestion also implies there's a tighter credit standard which i think people will applaud. the democrats historically have not had much to do with trying to replace or improve freddie mac and fannie mae. why do you think you can get congressional approval on this >> we're about to find out, aren't we? i've been labor in this for almost 16 years but its the first time i've had a democrat cosponsor for a piece of legislation, that is clearly a step in the right direction. here's the grand bargain. the grand bargain is we codify into law the government

guarantee in place of that, we put the taxpayer in the catastrophic risk position last loss position and there will be an affordability housing component which the left wants. i think the best affordable housing program is growing economy with a good job leading to a meaningful career. currently there are a number of basis points that are skimmed off to go into an affordable housing trust fund. whatever affordable housing component we have is going to have to be something that ultimately is transparent and actually goes not to third party groups but people who actually need the help and we put people into homes they can afford to keep. i hope today's hearing is going to highlight is the risk of doing nothing is huge. it is deja vu all over again. we got a boiler. its heating up. look at debt to income ratios, look at down payment levels --

>> representative, i want to get your reaction to this. we do want to just read something that's come across twitter from our president. you might want to react to this. he just tweeted out the following, he says the deep state and the left and their vehicle, the fake news media are going crazy and they don't know what to do. the economy is booming like never before. jobs are at historic highs. soon two supreme court justices and maybe declassification to find additional corruption. wow. that was -- kim jong-un proclaims unwavering faith in kim jong-un. thank you, chairman kim. we'll get it done together. getting an endorsement from the president of north korea. i don't know if that's good or bad. congressman, what do you make of the anonymous op ed and what's happened here? >> in some respects i think we might have reached a new low in journalism, although i don't really know its journalism.

so much political commentary now parades under the headline of journalism. i haven't read the piece in "the new york times." i doubt i will bother to read it -- >> you don't care about the content of the fact that there's someone inside the administration who clearly has -- finds significant and serious problems with the day-to-day operations of what's taking place in the white house? >> i got examine the source, personally. i've tuned out "the new york times" years ago. so i don't know if it has any credibility or not. if there was a name attached to it, maybe i would pay attention to it, but an anonymous op ed published in "the new york times," frankly, i got better things to do. i've got a housing finance system that represents a government monopoly that is creating huge systematic risk in america and it has to be reformed now. we cannot repeat the mistakes of the past. that's what i'm working on. otherwise what i know is in the fifth district of texas, people are enjoying the best economy in their lifetime including the banking relief act that came

out -- >> i'm going to miss you, jeb. i'm going to miss you desperately. >> we'll miss you too. >> its a free market and free world as they say. we appreciate it. thank you very much. >> thank you. when we come back, grilling on the hill, social media under fire from lawmakers, what yesterday's hearing could mean for the sector straight ahead. really want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies lead with digital.

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this morning we are live at the nasdaq market site in times square. secretary of state mike pompeo blasting "the new york times" for its anonymous op ed piece yesterday. it was critical of president trump. the times is a liberal newspaper that has relentlessly attacked the administration. pompeo was asked by reporters if he was the author of the article. he said he was not. china again warning it will retaliate if the u.s. implements any new tariffs. $200 billion new tariffs could go into effect. a public comment period ends tonight although the exact timing of any new tariff remain uncertainty. we're about 45 minutes away now from the august adp employment report. its one of several economic reports that come out today.

revised figures on second quarter productivity as well as jobless claims and we'll be getting the institute for supply's management index. facebook sheryl sandberg and twitter jack dorsey getting grilled on capitol hill. julia boorstin has the highlights. a lot of people talking about this but also saying it didn't look like there were too many obvious missteps from these two yesterday. >> reporter: they both got pretty high marks for holding their own but twitter shares did fall 6% over the course of the day while facebook shares dipped by 2% during the trading day. now there was pretty noncombative questioning by the senate intelligence committee but then dorsey going solo faced tougher critics from the house where he was grilled about perceived conservative bias on the blast, something that dorsey denied twitter shares dropping really on dorsey's explanation that making changes to the platform

will come at a cost. >> our singlear objective is to increase the health of public conversation and we realize that that will come at short-term costs. we realize that we will be removing accounts. >> sandberg and dorsey both stressed they're work to go improve their platforms and to beef up protections ahead of the midterms. those commitments drawing thanks from the committee members. the senate intel committee did leave an empty chair to highlight google's failure to send a message to its lack of participation. there was a need to force transparency. senator mark warner who suggested a range of potential regulations says the wild west area of social media is over. >> its a good active theater to leave that chair open tells you the senate can do that.

it may not be what happened yesterday that really moves any potential regulation. hearing about the department of justice and state attorney generals that are going to be meeting later this month to talk about whether social media platforms are actually stifling free speech and all of these things make you wonder what kind of regulation really might develop down the road. what do you think? >> reporter: most obvious regulation would be something that would be similar to the gdp or privacy regulation that's we've seen out of europe. while privacy regulations are certainly on the table, we could see some of the suggestions that senator warner has made. he suggested very simple things that making sure that bots are label. any time you're interacting with a bot, you would know it wasn't a real person. there's a pretty wide range of things that have been discussed. a lot of these issues like how do you mandate the impashality. can you regulate that in terms of how algorithms work its still the early days of

that. >> thank you. coming up, william shatner the actor, producer and american icon out with a memoir, live long and what i learned along the way, wow, quail gets to talk to shatner. >> don't worry. you'll get your turn in a minute. >> he's our guest after the break. futures right now are up just a little. look at that guy.

how do you watch -- we are back. our next guest, 50 year hollywood career includes actor, director, producer, recording artist and writer. let's welcome william shatner, star trek's captain kirk who's new memoir is live long and -- >> live long and dot dot dot -- that dot dot dot is the

important part of the title because you live long and -- and if you watch "squawk box," you'll prosper, but if you don't, you know you might not. its the ellipse that's the pivotal part of the title, like, what are you going to do with your life? >> you've written books before >> i have. >> how many? >> we stopped counting. >> but this one is very forthcoming and -- i think you open up about a lot of stuff that's interesting to people and there must be cathartic to talk about at least. >> a lot of memories and all of our long lives are painful or cathartic or -- or -- i mean its part of your journey somebody said to me when i said -- when i was complaining about something, they said, well, that's the career you're supposed to have. this is the life we're supposed to have, this journey and whatever you're doing is what

you're doing. and then you stop. >> i talk about you because no one -- they look at your date of birth. most actors lie about their date of birth. i think you're lying the other way because you can't be -- you can't be 87. >> i am not. >> you're not 87 >> no, i'm 52. why you laughing >> on one of those travels to some foreign place -- you found the fountain of youth out in the ether some where. >> its near cairo, a little dune. >> he actually -- in the book he talks about george burns, that you can't die if you're booked and he's booked on "squawk box" and amazing race". >> i've got an album, country music album, why not me, i've got a christmas album coming up in october, called "shatner clause" and i've got this book

and i've got to shatner.com to see where i'm coming to a city near you, i'm on tour with a film, the wrath of kahn, we talk and have fun. go to shatner.com -- >> i think of you as like shatner enterprises. >> shatner universe. >> tell us about the business that is you. do you have a partner or a team? >> absolutely. i love the idea of business. i love the concepts of business -- taking care of our lives, looking for means of making us better. for example, pegago bikes, electric bikes -- electric bikes is where its at. solar energy, solar alliance is another company i'm involved with. the earth is in crisis. not the government. we'll get over this soon or

later things will evolve. what will not -- we will not get over what's happening in the environment. so companies that are working in the environment to help the environment, to help us stop the inundation of new york city is where business is at, i think, and i'm involved in the future of businesses. >> talk about just some of the stuff in the book. nemoy you -- >> does that ever happen to you? >> yes. >> i've talked to many people where some -- they stop, what's the matter you never got an answer and that's what it was. except in my case, my dear friend died, you never got an answer. >> you think it might be that you asked him to do something and he said, no, i'm not going to do it and you thought he might be kidding. >> that is a possibility. i don't know and its furious to

speculate because you can't do anything about it. what i have said -- i didn't go to his funeral. i was at a fund raiser and i said to the people that were giving money to the red cross, it was, all our names, all "squawk box" will fade into dust and the shortest while you'll be a nonentity of a mote of dust in the air and so will i but everything will be forgotten. what won't be forgotten is the good deeds you're doing here, in this case that night or the good deeds we do in life reverberate like the butterfly effect and that's what, although we personally won't be remembered, the effect you have by helping somebody or some thing to do. >> i think you should -- you've been asked to start trek again, even command a ship again and you wouldn't do that. >> no, i haven't been asked.

and how do you -- i'm a little different 55 years later. >> i think wisdom and age as the captain of a starship would be, i don't think that would be a negative, would it -- >> commander of the whole fleet. >> you've done that. >> you're looking for ways to incorporating me into a star trek film sthar, is that what y saying >> yes. the one you directed in the book didn't work out. you made the wrong decision. >> i made political decisions -- this would be an interesting subject for you guys if not -- if i don't have time today, something that, again, you might think about. when do you stand on principal, when does joan of arc say tie me to the stake or when do you compromise or when do you say joan of arc says i'm buy polar and i made a mistake and don't

burn me. and they leave. i'm kidding. why do you have to die for your beliefs when you're much more effective if you stay alive? >> exactly. so you wanted to direct, nemoy directed. you wanted to direct but it wasn't the perfect vehicle to do it and instead of blowing it off you decided to -- >> well, the whole story or the three line further explanation of what you said is i thought what an interesting premise if star trek goes in search of god. we go looking for god for some reason. and then the studio said well who's god, which god is it you can't be god and somebody said, what about an alien who thinks he's god? in order to preserve this great voyage why did i just compromise and say an alien -- and that destroyed the whole premise and -- >> its like a rotten tomato and

so you should've just said no. >> then i wouldn't have been able to make the movie at all. >> so what have you learned? i'm trying to find out. do we stand on our principles or do we not? >> that's your individual choice. >> what does william shatner do? >> i say its better to live than die for your principle and by living you can espouse your principle. >> and this man has gone through things. i remember like it was yesterday the horrible tragedy of your wife. its 20 years. its 20 years -- >> exactly right. >> since 1999 and i've often wondered and i don't want to get modeling about this, but you got to the point where you're not sure whether life is worth living without that person and you think -- >> you know that happened to me twice. i was in such grief with her death that i thought about that and went to the animals, the horses and the dogs and things

that i surrounded by life with and my family, of course, and gradually grief aswages and you learn to live with it but another time and this is important also to say on the air that i have tin thigh tis -- the reining in the ears that never -- ringing in the ears that never goes away but you can become accumulated to it. i've talked to many people -- talked people down from suicidal impulses because of the ringing in the ears by assuring them that it'll get better. so suicide is not a good idea for anybody. its too -- that's a final word. that's no compromise there.

>> thank you. >> how's that for a -- >> that is actually a big pick me up. that is something that people need to hear. >> the last thing you want to do is end it completely because there are ways of getting around it. >> that resonates with me because we've just had a family tragedy where a 20-year-old gaend son student committed suicide. he had an attachment disorder which often befalls adopted children and he was one and we just couldn't get through it, so his parents, pam and phil martin have founded a foundation and with the idea of particularly of young people trying to early identify and treat mental illness. i'm committed to it and for those of you with any interest in the subject, i recommend that you visit our website which is

radical hohope foundatiofoundatn radicalhopefoundation.com. >> what a wonderful opportunity for you to be able to say that by something i've brought up for you, maybe between us we've can save a life. >> it wasn't prearranged and i thank you. >> exactly. it wasn't prearranged and i saw you looking at me and i'm wondering why and now i understand you were wrestling with the idea of saying something. i personally am so glad you said something. >> me too. i'm sorry. i didn't know that. >> awesome, again. the last time you were on, i think -- the people ask who have you interviewed, shatner's been on. i've done this twice. think about what those people at the star trek conventions would do to sit down and talk to you. >> i admire you all and you give good advice frequently and people should follow it, go to

william shatnshatne williamshatner.com and see if i'm appearing at a place near you. >> the new book is, "live long and, dot, dot, dot -- ellipse, what i learned along the way," thank you. coming up. a lot more to watch, oscar nunez is going to talk jobs. he joins us along with the ceo of year up. squawk" returns right after this. like ever. they reveal in extremes and defy limitations. these pursuits may seem unnecessary. but the scariest thing i can imagine is a world where this, doesn't exist.

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we got stocks to watch this morning. docku sign earning 3 cents per share. signature technology also gave strong revenue guidance and the stock down this morning but still well above its july ipo price of $29. g 3 apparel shares are a rise. reported profit of 22 cents per share for its latest quarter. revenue beating forecasts as well and g 3 increased its full year outlook. game stop, my kids are always talking about game stop, up in premasht trading after rising 22%. the retailer stock has been gaining following reports that its working with a possible sale. coming up, we have jobs in

focus. united continental ceo oscar munoz will join us. leedadp private payroll will be reas. all coming up right here or "squawk box." so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.

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breaking economic news, the adp employment report a key read on jobs just 15 minutes away. working for a living the ceo pulls up to the squawk gate with a look at how his company and others are trying to develop the workforce of tomorrow. plus, the politics of big tech. former son microceo grades facebook and twitter on capitol hill this week and talks industry regulation as the final hour of "squawk box" begins right now. announcer: live from the most powerful city in the world, new york. this is "squawk box." good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square.

i'm joe kernen along with becky quick. larry bossdy is our guest host today. we'll visit with larry momentarily. futures up about 26 -- 25 points now and the nasdaq rebounding up about nine. and the s&p indicated up $1.40. today's top stories. the adp employment report that's due out in just 15 minutes time. forecasters say the economy probably added 190,000 new private sector jobs last month. that would compare with the 219,000 added back in july. "the new york times" publishing an anonymous op ed entitled, i am part of the resistan resistance. president trump has called this piece gutless. in a tweet during the last hour he wrote, the deep state and the left and their vehicle, the fake

media news, are going crazy and they don't know what to do. the economy is booming like never before. jobs are at historic highs. soon two supreme court justices and maybe declassification to find additional corruption. wow. cbs is reportedly in talks with national amusements and controlling shareholder to settle litigation over control of the media company. "the wall street journal" says that cbs would drop its attempt to strip national amusements of its voting control and national amusements would refrain from pushing for a merger of cbs and viacom which it also controls. other stocks to watch today. delta air lines reported higher two investment banks. remember when you got into the refining business of one way to hedge oil prices. separately glasgow declined as a recently announced restructuring. it employees about 15,000 people

in the united states. >> that was mcgyver, richard anderson. he had to solve problems with fuel costs and his solution was -- >> he got another refinery himself. the automaker is recalling 2 million trucks in north america to address fire concerns for seat belt parts. i had to reread that. there are apparently fire concerns with the seat belt parts. for more information to figure this out we'll bring it to you as we get it. ahead of tomorrow's jobs report, one nonprofit has begun disrupting the corporate hiring process with the workforce development program for high school educated youths. its called year up and it counts facebook and sales force among its corporate partners. joining us right now with more is the year up founder and ceo and oscar munoz who is the ceo of continental holdings and welcome to both of you.

let's talk about what year up is and how it came about. please explain. >> thanks for having me. year up is a national nonprofit organization. we're now in 21 cities. we work with low income 18 to 24-year-olds and in one year enable those young adults to go from low income to no income to about careers in companies like united, facebook, jpmorgan, bank of america, really getting on that career path to a good job often in technology, finance, other areas where there's a demand in the economy and employers are looking for a reliable pipeline of talent. >> we hear all the time about the opportunity divide and we hear anecdotally from that about ceos who have trouble finding qualified people to put in these jobs. how big is that gap? what really motivated you to do this >> there are 5 million 18 to 24-year-olds out of school and out of work and don't have more

than a high school degree. we know there will be 12 million jobs that we can't fill because employers can't find the talent they need. there's this skills gap. there's an opportunity divide. what europe's doing is connecting those young adults by working directly with the employers, understanding their needs for talent and backwards engineering that to make sure we're preparing those young people to take those jobs. this is a massive opportunity in a tightening labor market to find a new source of untapped talent to help companies grow their workforce. >> oscar, united continental just got involved earlier this year. why? what drew you to this program and what have you found so far >> from the standpoint of what gerald is talked about there's such a great opportunity on this divide in closing and ceos around the country and this is just at least from united

perspective one of our proof points that this can be done because beyond the altruistic value of doing the right things for our communities, its also really good for business. gerald mentioned technology. its a great place to bring folks in. parts of the -- large parts of big data management initiatives is just data management and those middle skill jobs are very important and these are the folks we're finding from organizations such as year up. >> tell me something, when these people apply, do they have to have certain qualifications? do they have to be high school graduates or -- what's the criteria on which basis you admit them >> so our students have a high school degree or ged. some of them have tried college and unfortunately not been able to afford that path, and so we're looking for a motivated young person who wants to work at a great company like a united or jpmorgan, at&t and what we're doing is really preparing them with what i call the new abcs,

the attitude, behavioral and communication skills needed to hold a career job in this country but also teaching them something marketable like cybersecurity, data analytics, quality assurance testing, finance. these are skills you can learn and if you bring the right attitude, the willingness to keep learning and show up on time, there are many companies willing to open the door even if you don't yet have that advanced four-year degree. >> oscar, how many of these interns have you brought in under the program and where are they working >> the last question, i think the qualifications of them, the attitudal piece, i couldn't overemphasize that more. year up vets them to that degree. we just started the program, becky. we hired in the work study program in the last period, we had ten people. we've hired eight of them. we just have our new cohort of around ten.

the numbers are relatively small but i urge all my fellow ceos around the country that this is a very, very exciting and productive way of filling some of those jobs we need to get filled. >> gerald, how many young people have come through the program? >> we've been blessed to serve over 21,000 young people since we started the program 18 years ago. in some companies like state street, jpmorgan have taken 1,000 interns and seeing this as a relevant, valuable pipeline of talent in what i -- companies are going to recruit on campus, they'll have campus recruiting but they also need to have a deliberate, free baccalaureate strategy to bring in that talent that for many reasons didn't have access to that four-year degree. these are talented individuals and it connects them to enlightened employers like united, that's what we need to do and we can bring probably 1 million people into this workforce, reduce some of that

tightness in the labor market and help our companies be competitive. >> we have an adp report coming up in just a few minutes and we are hoping that's a precursor to the jobs report on friday. nobody knows better than someone like you who is sitting on the front lines. what do you see right now when it comes to the consumer economy, oscar >> it continues to boom. our cfo just reiterated our quarterly guidance but upped it on the revenue front. things are looking good. >> if there were any pushback, what would it be or is this just a situation where you think things are firing on all cylinders? >> fuel price continues to increase and that continues to be an aspect. we've figured out a way like others to manage some of those costs with regards to some of our capabilities, but fuel is probably a big issue and of course broader geopolitical issues always can surface and impact us in some way. >> the baggage fees that united

just went up matching what we had already seen from jetblue, $30 for the first bag and 40 for the second. my only question as a passenger, i get baggage fees, i accepted they're here, i just feel like there are so many other passengers who try and cram their bags in and get them on for free by taking them to the gate. can you fix that system and make sure people aren't incentivize to bring their bags on instead of checking them >> the industry's trying very different things. what we're trying to do is make it he's grort customer. the quicker we can board those aircraft, the quicker we can turn them and get people out on time. we have segmentation in our business that has allowed some of that to check in. we continue to try many methods and this is one of them. >> i just feel like baggage feels are a deincentive. is there a way to incentivize people to check their bag instead of dragging it on? >> that's been tried and we'll continue to monitor this but at this point in time we were just following what others were

doing. >> gentlemen, i want to thank you both for your time today. we appreciate hearing about it. jared and oscar, thank you both for your time today. >> great. larry, you might know about these things, seat belt pretensions. ford is recalling the f-150 pickup truck. it uses an explosive charge in the seat belt to drive a concealed piston -- the minute there's impact, they go off before the full force of the impact because it pulls the body back in. there's 17 fires where after there's an excess sparks after they've been deployed which caused a fire. i was wondering about seat belts. do you make those things >> we did. it sounds like a good basis for

recall. >> exactly. a lot more to come. we're just minutes away from the adp employment report. got the numbers and we will bring you instant reaction. 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? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

tra our guest host, larry, we've only got about a minute before we get to the big numbers because mark zandi's standing by. its sort of unfair. hi, mark, how are you? what do you think is going on in the markets? >> it tries to digest the news every day and the news has been very turbulent over time. its had remarkable resilience and i don't see us having a catastrophe -- >> what are you doing with your money? >> basically the same what we've been doing. we keep -- we stay in equities. probably as i get older, a

little more in tech exempts and a little more liquid, by not a lot different than what i've done most of my life. >> fair enough. joseph >> we got to get to this number. we're ready for the latest adp employment reports. steve liesman is here and mark zandi is here with the numbers. >> 163. the july payrolls -- this would be the august payrolls rose by 163,000. that's a bit below the estimate and there was a revision, slight revision down by 2,000 to the very strong still in july. 217,000. you can see everything you need to know of the goods up 24,000, services continues to roll ahead, 139,000 but that 24,000 number's a good number for the good sector and there's the estimate for 192. we'll see if that comes down. now i want to look at business size. this is interesting and i think may be important. small businesses up by 21,000,

but look at that medium number, up by 111,000 and large employees up by 31,000. we'll talk to mark about this. its not as sexy as saying small business but medium business has been leading the way on job growth. let's take a very good look on sector here, education always leading the way. leisure hospitality also a greater sign of disposable income. manufacturing is a strong number. president trump crowing about that number and the big gain in manufacturing employment. let's bring in mark zandi now. mark, i was crunching the numbers this morning. it used to be small business that led the way. what i did is i looked at which one was the biggest job gainer before and it used to be small and now its medium and its been -- here's -- 18 of the last what do you want to call it, 30

or 40 months since 2016, medium business has led the way, what's going on there >> i think its more of the story of the small and the large. for the small business, they're struggling filling open positions. they can't compete with the big guys and they're raising their wages more quickly than other companies. we're seeing slowing growth there because they can't hire. the numbers are pretty quite compelling there. if you go back two, three years ago, they were creating a million jobs a year and now they're creating half that, small business. the big guys and this is more -- what i just said i have a lot of confidence in. this i have less confidence in but its increasing evidence here that the trade war is having an impact on large companies. so they are starting to become more cautious in their hiring. >> medium -- >> medium is doing what its always done, exactly. >> i am interested, though, when we get a weak number or weaker

number -- 163 and we could talk about that for a second, its not a weak number. >> no. >> its double the entrance to the workforce. its a gate number. a strong number has to be 200. that said, a weaker number could be a sign of difficulty in finding workers. >> that's the case for the small guys. that's having -- >> i caution august. every august -- we have very low response rates in the bls so it always comes in soft, at least on the initial report and it gets revised higher -- >> this is my theory, by the way. the lower the response rate the better the economy. more people are on vacation -- less traffic on the west side highway on the way in in august the better the economy. i called the guy the other day and reached him at his office, i don't know if i want to be using you as a source. he said why. because you're in the office. anybody that's worth anything is

already on vacation. >> it used to be the other way around. if you saw more trucks on the road and more cars, so we -- that only applies to you guys here in new york. >> let's talk about the economy, which we do with moodies and you guys. rapid update running 3.2 and a tuck-up it was in the -- tick-up in the second quarter is 4.3. i'm impressed the economy is continuing the strength of the second quarter into the third quarter. i thought there would be some giveback. >> why >> i thought there would be some giveback. >> you got massive deficit finance cuts and all this temporary juice coming into the economy, it would be miracle if you didn't see it. it would be bizarre if you didn't see this kind of job growth. >> you don't see anything in terms of the tax cuts helping to propel growth and capitalism -- >> not at all. think about the -- how would that work exactly?

lower tax rates by themselves all else being equal lowers the cost of capital to get more investment, more productivity growth, got it. you have higher interest rates. so higher interest rates raises the cost of capital and reduces investment. >> its a conflict of interest. i got to talk about jimmy from central avenue jeep that agrees about every single criticism of donald trump except the fact that cars are flying out the doors. he could careless about the things that most of the media spends all their time on. his business is up 15%. he's selling a whole lot more jeeps -- >> there's a case where its not. we'll sell 17 million units this year of vehicles. that's what we sold the years before. >> for the record, i struck my deal with jimmy before i mentioned him on television. there's no conflict. >> thank you. tonight on "mad money,"

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when we come back, we are just minutes away from weekly jobless claims. then reaction to big techs big day on capitol hill. representative kathy mcmorris rodders will join us from washington and we'll be talking to scott mcnealy. its all coming up when "squawk box" comes right back. ♪

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♪ guest host this morning is larry bossidy, former chairman and ceo of honeywell. you talk to business guys still, don't you? >> i do. >> what are you hearing about the -- not the stock market or about the overall economy? >> i think its good as its going to get and its very good. you look at any of the statistics, whether its employment or whether its auto sales, the previous person was saying 17 million units was not a good number. it isn't a record number but its

a very good number. i think the economies hitting on all cylinders. >> he was also saying what do you expect when you finance huge tax cuts and huge deficits and you get a sugar high and a short-term stimulus and it can't last and there's no reason to think that tax cuts to businesses would have a long-term effect, so i don't understand that rational. >> that's a position that's hard to agree with in any aspect. nonetheless, i think what's happened -- trump gets a lot of criticism and some of it justified, but look at what's happened from a business perspective, its been outstanding. its been almost unprecedented. >> the zandi remark or the other view, if you will, how do you think about deficits long-term and what the tax cuts have ultimately created >> i think deficits will have to be dealt with over time -- >> but is it a spending problem or tax cut problem >> politicians have to decide you have to look at spending as

well as well as any other medium and they haven't been willing to. but in the meantime there's no reason to do the kinds of things that will choke an economy. recognizing in the long run we'll have to deal with it. >> you think the president should be talking about spending then, if that's the solve. >> i think the president has talked about it. >> he's not going to sign another one of those budgets. >> there's no interest in congress to address the subject and so nothing happens. >> the argument that the deficit will interest rates to go up and offset the benefit of the tax cuts, its possible. we're at 2.9% on the ten year. >> and we have trouble keeping it. it goes down below that. we'll have a couple more raises this year in rates and that's okay, i don't think in any way it'll choke the economy. >> larry, overall, can you just say that that money or capital is treated better in the private sector because its deployed by risk takers to either innovate

or for entrepreneurial reasons so tax cuts by definition is better than having 90 cents go down the cracks with the way the government's been. >> they have to be accountable in terms of -- so certainly the private sector deploys capital more effectively and it matters. >> let's get to rick santoli, he has the numbers. >> reporter: on initial claims they moved down, 10,000. no revision the last week's 213,000 which now stands at 203, 203,000. and continuing claims moved down just a whisker. the money number today none pharma productivity, second quarterfinal, 2.9 and toss it except for we don't because it stayed at 2.9. the final read is the same as the midread and that turns out to have been the best read since

3.1 which is in the first quarter of 2015, at least on the perspective of not looking at how its been averaging which, of course has been on the low side but this is bumping up a bit labor union cost down 1%, productivity up, labor cost down. that's the way its supposed to work. that midcycle number was .9 so it now stands officially on labor costs is down 1%. as i look at the board, i do see a 290 yield so we're ever so firming up, so slowly after having 18 sessions in the 280s and everybody out there that paid attention to tax reform as it was implemented realizes that there may be some issues that cause the buying of treasuries up until around this time in september. we'll have to monitor, i'm not sure how much speculators or investors have played on that or lack of what may diminish but we'll pay attention, joe.

back to you. >> thank you, rick. this is only ari fleischer but he says -- >> i like him a lot. >> but he's quoting jennifer polmari. this is why its impossible to evaluate how important the anonymous op ed is without knowing how high up the author truly is, the op ed leads me to no conclusions. jennifer says fyi, based on my experience with the sourcing rules for administration officials, this person could easily be someone that most of us have never heard of and more junior than you'd expect, like a deputy at legislative affairs. so now jennifer polmari now sounds much more reasonable than you or walter isakson and she was hillary clinton's director of communications. she has put herself far to the center of where you and walter and chris are.

>> i disagree fundamentally. you can raise a question about who this person is -- >> if it turns out that its not an important person -- >> and raise the question about who this person is and therefore what their veracity is, that's one issue on one side. and then the other question is, what is actually being said in this op ed and in particular, how it is affirm tri -- >> if it was number 1,200, would you still give it as much. >> i would probably not give it as much credibility, but at the same time you have all of these other books, you have all of this other reporting. i could even tell you my report lg -- your own reporting would tell you there are people inside this administration who think the president's crazy. this is a crazytown conversation to be having. >> you can't -- you can't overlook the fact that washingtonians like to have things done a certain way. there's a bureaucracy down there that the inside people want to

follow every daily and he doesn't do it. if you look at what's happened as opposed to how its happened, then you have to be confident that what the guy's doing has been a big success. is he bizarre and unprecedented, yes. tactually i wish he'd do some things differently, but the results have been outstanding. >> you might be on breitbart saying that president trump is crazy. >> i'm not saying -- >> you just said it. this guy is crazy. >> our reporting -- including you've had -- there are a lot of people inside the administration who have made comments on background that have suggested that they have doubts about the way he operates. >> sure. >> i don't think that that's -- i don't think that's controversy. >> that he's crazy -- >> i've heard kraeztown and all sorts of phrases, you've heard them too. >> that's slang. >> i'm not saying he's certificatably crazy. >> there are people who do say that, though, on other networks.

>> the beat goes on. >> this isn't the end of the subject on that subject. >> let's talk technology right now but also technology in the context of washington. jack dorsey facing tough questioning yesterday on capitol hill. our next guest was there and we want to welcome kathy mcmorris rodgers and the chair of the house republican conference, good morning. >> good morning. >> we're having you on to talk about the hearing that took place yesterday. i want to get your thoughts. i would love if you would just weigh in on the conversation we've been having here because i imagine you have read the op ed that everybody's been talking about. >> i recognize everyone's talking about it. i have not read it. and i doubt if very many people in eastern washington have read it. there's a lot of noise around it and the untold story remains the results of this administration, the results of the republican majority, the results on the economy. i just spent several weeks in eastern washington, people are hopeful, they're optimistic again after years of a stagnant

wages, stagnant economy, hard working men and women in eastern washington are hopeful again. there's jobs, there's increased pay, increased wages. it is -- its a story that gives people hope at a time -- just two years ago, just two years ago we were being told that the economy would never grow again at 4.0% gdp, right we were told we can't ever do that again. this is a new normal at 2% or less. and yet we're exceeding all these numbers and you would just urge people to look at the results. look at the impact -- >> i'm not going to dispute the results but i will ask you a question, which is given your role representing your district, do you have any responsibility at all if, in fact, there are people inside the administration who are calling out and suggesting that the president and the operations of the white house are troubled to investigate and look into that yourself at all as in just even

to read the op ed itself >> well, yeah. yes. i will read the op ed, and yes, we need to listen. i contend that story after story, the media is focused on a single person or a single incident rather than the bigger picture and the untold story here remains the economy. i feel it back home in eastern washington and yet, there's -- there's a dismissing of the policies, the results and i would just urge people to really look at that. i don't agree with everything that the president has said or done. i urge people to look at results. i am proud of this majority in the house, i'm proud of the work that we have done and, in fact, 68% of the bills that the president have signed this year have been passed in a bipartisan fashion. there's more work being done and work being done in a bipartisan fashion, despite the fact that so many just want to focus on

the drama, want to focus on, you know, some story coming out of the white house day in and day out. >> fair enough. let me ask you a separate question which goes back to the hearing yesterday. your take on the reaction and the answers that you heard from jack dorsey, ceo, of twitter. >> i want to say thanks. thanks to jack dorsey for coming and addressing these questions, coming to congress, coming in front of the energy and commerce committee and sitting there for several hours to answer these questions. i appreciated that. twitter is a relatively new platform. several years ago i was someone on capitol hill promoting the use of twitter. i think they're very important in the public square. i use twitter a lot and it helps me communicate with the people that i represent, so i think that this is a very important discussion that we're having. i have had concerns -- and jack dorsey himself had said that

twitter is left leaning. i believe that we need to address some of the incidents as -- i asked him directly about the meghan mccain incident. they made a mistake. they were too slow. they're going to do better. they've been saying that for some time on a number of incidents and we need to see them take some action to ensure that it is fair and that it is free and that we are having that battle, the battle of ideas that needs to take place in the public square but have it done in a free and fair way. >> okay. we appreciate your time and your perspective this morning. thank you very much. >> thank you. still to come this morning, former son scott mcnealy, he will grade facebook and twitter on their capitol hill performance this week. we're also talk industry at a. tion th'sll coming up when "squawk box" comes right back. but right now,

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facebook says sheryl sandberg and twitter's testifying on capitol hill about preventing election interference, page did not attend despite being invited. the government and cybersecurity companies -- >> let me be clear, we are more determined than our opponents and we will keep fighting. when bad actors try to use our

site we will block them. >> if we don't find scaleable solutions to the problems we're now seeing, we lose our business and we continue to threaten the original privilege and liberty we were given to create twitter in the first place. >> joining us now scott mcnealy, good to see you, been a while. >> good to see you. >> its a little wild, wild west but what a great industry we've got in the united states in terms of, you know, the digital age here. i don't know where you're going to come down on it, but a light touch is always best, isn't it things are going to happen but we definitely don't want the genius that's write all the rules necessarily getting involved in trying to -- i don't know -- rein in something, do we >> no, we don't. hi, larry, good to hear from you. >> thank you, scott. >> you have no privacy. get over it. i've been saying that for since

way before the social media. second of all, if you use a service like a social media service for free, you're not the customer, you're the product, so face that and understand that. thirdly, its not left leaning. these companies are in the bay area, they're in san francisco. that is left of hawaii so you should understand that all the bureaucracy and the machinery and the people operating it or going to be biased and you know what people have bias. get over that. so understand that you're going to get shadow banned -- its just going to happen. even if the ceos weren't left -- they couldn't stop it if they wanted to, that's the nature of something that's as big and as complicated as all this. everything you say is a digital tattoo. you can't get erased, you can't be anonymous or forgotten. that's all just -- it seems like only hillary's been able to hide other emails and only the vegas shooter has vart wally no footprint digitally or

discernible motive. the next thing i would say is the government shouldn't be part of this. its not their role. i just don't like the thought police idea. i've never liked the idea of a hate crime where you get in somebody's head. i hate all crimes and i think -- i hate all bad speech but you can't deny people the ability -- what is hate speech to one person is the right answer -- i think promoting socialism is a really -- that's just a terrible thing to go do, but you can't stop that conversation. these platforms are open. by the way, its users generated content and so you have to understand there's a whole bunch of strange people that have strange views and strange ideas. i guess the last thing i would say here is that we should be warning everybody not to trust anything you hear out there. i don't trust -- everything everybody has a bias, you have to use your logic and so what i would like to see, is i'd like

to see all media execs and i would like to see all reporters and newscasters put on air and on the web their donation and voting records and anything else that's relevant to that. larry and i, when we were running our kpds, we would have to share with shareholders any equity investments we had in competitors and conflicts of interests and i think we should, when we're ingesting or digesting content we get over the air, we should know where your bias is. let's be proud of it and be honest about it. >> i would agree with you at a certain point. if you've made any political donations. most of us can't do that. i don't know if everyone should share they're vote on everything that's happened. >> if you're going to be in a political or a news environment where you can shade and bias your perspective on it and use different words that mean very different things -- you know what the last conversation about

trump. i'll tell you what, there's been a lot of very, very successful ceos who, if we looked at every letter or anonymous note that was written by one of their employees, i bet larry didn't get 100% job approval rating by every one of his employees especially ones he laid off. i certainly didn't myself and steve jobs would have gotten a lot of funny letters from a lot of people. he had a very weird style looking at the results and looking at the positives of the output -- >> i want to -- you -- one of your quotes that i always use was that the reason the economy started up ticking in november of 2016 is because the water boarding of the private sector came to a halt at that point. i'm hearing this is an extension of the recovery that president obama put in to effect in -- i'm still hearing that now that

things are going so well. you predicted if you get out of the way of the private sectors, good things can happen. >> the reduction in taxes, i think the reduction in regulations, i think the expectations that things are going to be better, that the water boarding has stopped and the world's worst ceo is 1,000 times better than the best politician in the white house and i don't think donald trump by any stretch of the imagination is the worst ceo ever, but i think its niegs to have somebody -- nice to have somebody who understands the private sector and understands that the limited role of government is a better answer than -- >> i'm hearing its just more stimulus. even if it was stimulus, at least its working this time instead of that 800 billion -- i don't know what that did. this is just front end stimulus that's going to blow out the deficit and result in higher interest rates and its going to shut off the recovery, but i

don't know. a permanent change in corporate tax rates, i would think would have a longer term positive effect. >> absolutely. the statement -- i would much rather have a business person or an investor allocate capital than a lifetime bureaucratic politician who's redistributing my money to buy votes so they can stay in power. that's just the wrong way to do it. >> scott, back to the media question. i was impressed with dorsey yesterday. i thought he was very forthcoming and frank about some of the ills that he has to face coming forward. its a complicated subject. i would like to think they'll give him time to fix it as opposed to having the government intervene and make a further mess out of it. >> i don't want the government to intervene but i don't think they'll fix it. not looking at the employee base, you just have to deal with it and understand that. i think everybody has a responsibility in the media, in

the government to tell people, i tell my four boys, listen, everything you see out there could be a bot, could be a liar, could be somebody with huge bias or could be somebody that's not very smart. you have to dissect the logic, the facts and try and and try to get the right answer. asking the government to tell us the right answer is scary. >> we'll see on your weekly segment mcnealy. >> thank you, scott. >> jim cramer is going to join us, he's in philadelphia this morning ahead of a scipeal "mad money" and the football game as well like ever. they reveal in extremes and defy limitations. these pursuits may seem unnecessary. but the scariest thing i can imagine is a world where this,

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welcome back to "squawk box," let's head down to philadelphia that's where we find jim cramer, getting ready for tonight's nfl season kickoff on nbc. that's going to be good. you have a special guest also. i would like to call the both stars of all media,

jacksonvilljacksonvillgyjim, do that work for you? >> we are at the city's capitol. i wore an outfit that i felt was more in keeping with being a world champ and accepting today is our day just as it was at the beginning of february. >> where did you get that? >> well, my wife bought it i think she got it two for one in milan i got a matching one >> no, anyone can get these. >> are you going to wear that? >> they are fire hazards >> are you going to wear that and interview brian roberts? >> if brian were an eagle or a cap, you may something like that i will be dressing in accordance >> did you hear me about whether

we should regulate or not? what are we going to do with these great companies? >> who is going to regulate? a left wing media and right wing media? dolphins no i don't think anyone can regulate they ought to try. that's the problem with free speech and it has been nasty i think the first amendment is going to prevail here. i think the amendment does trump the commerce sack even though some people disagree with that >> thanks, gyjim, i will see yo in a couple of minutes >> stay tuned, "squawk box" will options fees? are you raising your hand? good then itr power e*trade the platform, price and service

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welcome back to "squawk box. our guest all morning honey w l honeywell's ceo. >> great to have you >> a lot of people talking about these headlines. do you think the business community cares about these headlines? >> i think they care about them but not as a first priority. i think they run their business

and delighted of what's happening in the economy and you know i think they probably wish some of these headlines didn't happen but i don't think it affects the way they run business >> when you think about and you have said when we talk about the markets where we are, is there any icebergs ahead of you? we are about to do the whole anniversary marking the ten-year anniversary of the crisis? >> we'll have a recession. there is no doubt about that that's not going away. i don't think it is right around the corner and like other recessions will come out of it i worry of the debt of the country, i hope this economy will reversal out of that debt by virtue of productive and profits that will come from what's happening but certainly i feel really good of where we are in this country. >> you think the senate is safe for republicans but the house is -- >> the senate is safe in the house and it is up for grabs

>> it would be against history to keep the house. >> but, you know they got to get 23 seats we'll see. hopefully, they'll hang on but it will be close >> larry bossidy, the one and only, we appreciate it >> thank you >> make sure you join us tomorrow "squawk on the street" begins right now. good thursday morning, welcome to "squawk on the street," i am carl quintanilla, cramer is in philadelphia where the eagles will kickoff against the falcons. future is pretty steady after the drop for texans for july we'll see if the u.s. launches tariffs on 200 billions on chinese goods. our road map begins with a new season and a new nfl