we'll see if he weighs in on anything related to trade, the economy or the campaign trail. that does it for the exchange today. thank you so much for joining me power lunch starts right now >> welcome, everybody. we start with today's major market selloff on power lunch. stocks are getting slammed for the second day in a row. recession fears are on the rise. thedow down nearly 600 points. 541 right now, 600 at the lows or there abouts. we're heading back toward those august lows by the way one strategy, do not get too scared, new highs. yeah, new highs are just around the corner, and he will explain why he's seeing that outcome we do await president trump who will be speaking any moment as the impeachment inquiry in the house heats up he'll do a joint press conference with the leader of finland. power lunch starts right now

it's an ugly day on wall street, all major averages are down 2%. the dow wiping down 900 points in just two days we are on track for the worst start to the fourth quarter since 2008 and tech, one of the worst performing sectors today, check out some of these moves, microsoft, apple, visa, cisco all under pressure for more, let's get to bob posani >> a slowdown, not a recession that's a consensus will change the way you look at things a week consumer would second the country down for an early warning sign, i've been watching these big consumer stocks that have done well the last few years double-digit gains here, there's

some cracks showing. starbucks has been weaker in the last month it's down about 12%. that may not be surprising given how china is in its portfolio. you see some of the consumer giants here. you can argue, go to the defensive stocks these stocks have had large runups this year. that play has already happened these are very expensive names right now, coke, kimberly clark, procter & gamble as you see, all are trading down today the weakness is widespread 5 to 1 decline to advance. all down about 2%. >> thanks very much. as the impeachment inquiry is gaining steam, the president is holding a news conference with the president of finland.

eomon javers is at the white house today. >> we've seen him expressing real grievance with the impeachment process. he was live tweeting at nancy pelosi earlier today he used the word b.s. which raised a lot of eyebrows he felt he had to deny a report that he wanted alligators in a moat at the u.s. border with mexico, the press has gone crazy in reporting inaccurate information i think we can see a frustrated president trump the president's been tweeting about the stock market today he said earlier all this impeachment process is driving the stock market and your 401 k's down they're willing to hurt the country with only the 2020 election in mind the president blaming today's selloff on impeachment, and you have been talking to experts on

wall street that are suggesting it's that sour manufacturing number that we saw yesterday as a result in part of the president's trade war. this is a president who faces economic head winds now, and he's venting those frustrations in a advisable way. >> i think we can expect to see more of that. >> bernie sanders health, and what it could mean for elizabeth warren as well >> she wants to see bernie sanders back on the campaign trail. no real reaction so far to the folks i've spoken to at the white house. they have largely viewed joe biden as the most likely or competitive democrat on the democratic side for this president as the dynamics change this is a president who's paying close attention to that. i don't expect he'll get a question about it, you can expect they're paying intense attention to that over 59 the trump campaign

>> eaomon javers at the white house. let's bring in brian gardiner, director of research at kbw. let's talk about the overall picture in the economy right now. how worried are either of you. i'll start with you, christopher about weakening manufacturing which has been the banana peel that the market has had over the past two days? >> i think it is the focus of the market and it's what's led to the selloff we're well into the 11th year of expansion revenues have come under pressure margins are shrinking. part of that may be uncertainty around trade policy going-forward. it's a combination of those things leading to the selloff,

much more than the immediate headlines related to impeachment or bernie sanders health or anything like that >> brian, you said you're head of washington research down there, i'm wondering what you think of what christopher just said in other words, is impeachment really noise to the market on this particular day. or could it be masking a concern that the consumer which has been the bull work in this economy might start to feel a little less secure and safe as the country embarks on an unchartered and potentially very divisive collision over impeachment? >> i think for now impeachment remains noise, the state of the consumer, the state of the manufacturing sector that's the driver, at some point politics is a contributing factor to the market selloff, it's not the primary driver

politics indirectly, the trade war that's been going on for the last 18 months is the policy driver i think the administration has had a good regulatory and tax agenda it's inflicted self-inflicted wounding in trade, and i think that is now coming home to roost, and that's what you're seeing in the manufacturing numbers, some of the global trade numbers, and i think that's what's spooking the markets more than the impeachment noise. >> it's very rare that we've seen a president use a curse word in expressing his frustration about anything publicly i wonder how you think about that, going into the elections, though, and the president's position in greeting the chinese in about a week's time does it put him in a position where he's more likely to make a deal all of this sort of plays into politics, right?

>> let's stipulate since the president was inaugurated, i think there are any number of things we could say. it's the first time we've seen this, this is incredibly rare. so i mean -- i have found myself saying that. i go home every night and say, i never saw that before. i say that day after day after day. today is another one of those. i think the president is -- i think he's conflicted about what he wants he wants a short term deal on goods to get more goods bought by the chinese, while advisers are holding out on a intellectual property protections. i think they see it in their advantage to hold out longer what he may want, the chinese may not be on board with that. how does that dynamic play, the two conflicting political interests of the two negotiating partners

>> christopher, similar question to you, how are you positioning into this fourth quarter because the muscle memory, you know, when it am coulds to october, when it comes to a fourth quarter of the year, it's pretty negative. >> after we finished, the third quarter that set some records, is a little bit head spinning. if there is no pickup in business investment. it's going to be hard for that consumer to stay stronger much longer the consumer goods from china will put a lot of pressure on the markets going-forward. those are the things we'll be watching for going into trade negotiations next week almost no matter what happens in those negotiations next week, tariffs are part of our exchange with china right now that's going to be looming over almost every conversation you had with the chinese and

businesses better get used to it >> i haven't heard any of you guys remark about interest rate policy around the globe, is very sort of easy money. and favorable to economic developments and to investing, does that back stop recession worries and market worries >> i think that gives most people confidence. that's what's behind most of us who say, there's not a recession looming around the corner. but we are clearly headed to a much weaker patch if you have the central banks on your side, the recession tends to be shallower and shorter. our attention spans tend to be short these days when we focus on the news of the

day. the broader monetary picture looks relatively supportive. >> you can see on the left-hand side of your screen, a live picture of the east room of the white house, we're awaiting president trump and the president of finland let's bring in the btig directing manager. julian, you still think we're going to hit new highs >> we do >> why >> this is the kind of day where you have to step back and think about the things that are actually good with the economy the employment picture is fantastic, the consumer is still relatively sanguine. muchmore present, a lot of tha has to do with concerns with regard to where the future of the trade war is going you step back and say interest rates are low, the consumer is there. the job market is there, the but is the problem that has been

with us for 18 months now the market has chosen to ignore for 18 months, the trade war, the ism number yesterday basically has put the markets on warning, that were at this tipping point, particularly with regard to ce oo confidence where the weakness that's been offshore now has the potential to move on shore what the market is telling us today is that it wants progress in the trade war and it wants it next week? >> what if it doesn't get it what if the headlines that come out of -- history in beijing, there was a highly fev ant nationalistic parade celebrating china. the president of china is all about china's acen dense

the president of the united states is being dogged by an impeachment inquiry. >> it could well be that the combination of external circumstances surrounding president trump's sort of decision mind-set is going to create better conditions for a deal. >> in other words, the u.s. president will bemore inclined to do a deal because he needs a win? >> absolutely. when you look at it, you look back to 1992 when the economy was soft coming to an election year, that was the last time we had a one term president george h.w. bush. president trump is well aware of that, and wants to try to skew the outcome to where you have north of 2%. >> where does the market go. >> the market will test the bottom of the four month trading range which is around 2800 we're moving in that direction

today. is there more down side? there could be at this point the other thing we're finding out whether it's the fed or globally, is reaching the limits of its effectiveness, it's certainly reaching the limits of how much it can keep the consumer confidence. >> it doesn't feel like economic activity is being held back. money is too expensive >> not at all. if you're a manufacturer, your capital is abundant. >> plenty of capital you don't have the confidence to make investment decisions. you don't know what the rules of the game are going to be six months, two months, 12 years down the line. >> if we're going to get new progress, we're going to test the bottom end of the trading range, what sectors do youlike >> for us, the message of the last several months and the fact that the market hasn't been able to break out to new highs with

the leadership that was there in technology, with the leadership that was there in defense of utilities and consumer staples, in our view, this is going to have to be something where that ism number as was the case in 2016 was really sort of the recession that wasn't. so with the turnaround, whether it's confidence driven or deal given, we don't expect a grand deal, just sort of a framework for the next round, is that the answers are going to be the more cyclical areas financials which have been under a lot of pressure the last several weeks but had a very good out performance as bond yields stabilize in september. and the more cyclical areas. a difficult place to have been in recently. and the other area for us is health care which has been under the political crosshairs defense can't carry the broad market higher any more

>> the prospects of an elizabeth warren candidacy and financials are beholden to rates. >> these are not defensive sectors. in the case of health care, it's even more offensive minded but our view would be that what you've seen in the bond market this year has brought tremendous discount both absolute and relative to those sectors combine that with politics, and to us, the risk reward given the fact that the dynamic is that there should be a path to greater growth in 2020 would lead us to those sectors >> julian, thank you so much >> dow's down just under 500 points right now we're awaiting president trump who should be holding a news conference with the president of finland any moment now we're all over this big market selloff. a scary month for october so far. there's a chart that could

explain that and auto sales pumping the brakes we'll look at how the car industry is looking to turn around slumping sales. and much more on the broad market selloff here are the stocks pulling the dow lower this hour. much more on all of this after this short break right here on power lunch.

u.s. car sales numbers are out for september. zm despite a mixed bag of results, the automakers are down. >> we got the q 3 results from the big three. yesterday we got the foreign automakers they were mixed but generally speaking, when you look at the entire industry, the third quarter was up relative to the third quarter of last year whether it's gm, fiat chrysler it is in comparison with last year, it's a little better than expected for fiat chrysler in terms of the pace of sales right now, we're running at a 17 million clip that means if the fourth quarter comes in at the same sales pace,

it will be the fifth straight year where auto sales are 17 million vehicles in the u.s. a couple stocks to watch today, tesla, we're awaiting word on q 3 deliveries, could be later today, more likely many believe it will be likely tomorrow when we get those, the number to focus on, the estimate is $99,000 delivered. talks will be between gm and uaw. when they start airing their grievances and saying, that offer really wasn't good enough, that's a clear sign that they are not close to a deal. back to you. >> stay right there, let's talk about whether the automakers can rev up their sales into the end of the year. what do you think, we know black friday is a huge selling day for cars here, we know from this journal article, that there's the credit terms that have been extended or are already extremely generous, how much

higher can sales go? >> sales have a little less in the tank americans are buying according to their budget. as we move into the fourth quarter of the year, interest rates are going to be as low as they have been for the year. >> incentives, that's usually a sign of desperation, right >> a little bit. but it's to move inventory we should be looking at sales of about 17 million should be the fifth straight year where history meets that mark. >> fords were standout but not in a good way. vehicle sales down ford is de-emphasizing their vehicles we believe their suv sales were lower also correct me if i'm wrong, where

does this put ford >> ford's in a position period right now, they don't have the truck that ford has. that's certainly one cause for the decline. >> also the explorer and the escape are going to be brand new, they haven't hit the market just yet they are trickling into dealership luck. once they hit dealership lots in full, records should be reached. >> what kind of economic backdrop do we need to have in order for those forecasts, do you think to hold true what are the analysts saying in terms of what they're expecting. what they need to see in the context of the u.s. economy in order to get to 17.1 >> the biggest indicator is consumer confidence.

if you see that fall off, then it's likely that you're going to see auto sales drop they generally move in lock step with each other when you look at the new vehicles that are out there. while these prices are going up. i know kelly mentioned 7-year loans. you still have people saying, given the interest rates, there's a great selection on the used side. we're not seeing people who are saying it's not a good time to buy a new car. >> when and how does the gm strike start to affect sales or has it already >> not so far. we've been tracking those numbers, it hasn't because the dealers have plenty of inventory, and tyler, i said this from the beginning. they have enough inventory where they're fine for four or five weeks, then you would start to see people say, i don't have the vehicle i'm looking for at this particular dealership, even then, keep in mind, if you're looking for a chevy silverado,

you're a chevy guy you'll say, okay, i'll put it off for a month or two >> we saw some pretty weak numbers from neeson, toyota and honda, is there a trade war in effect or what's going on? >> a little bit of a demand declining for those models specifically -- >> ladies and gentlemen, the president of the united states and the president of -- >> i think we have the announcement that the president of the united states and the president of finland are entering the east room let's go to that picture and listen in. >> thank you very much thank you. look at all the press you attract, do you believe this >> i guess they are not after me >> i hope not, you're lucky. thank you very much, today it's my honor to welcome the

president of fin land to the white house. mr. president, it's wonderful to host you once again in washington we've gotten to know each other over the last period of time, and it's been a great experience the president and i have just concluded very productive discussions on a number of exciting opportunities for our two nations. before going further, i want to express our deep condolences over the horrific stabbing attack that took place yesterday at a college in finland. america is praying for the victims and their families and we send our unwavering love and support. the american and finish people are lynched by an unbiding government, individual rights, democracy and the rule of law. this past may our country celebrated the 100th anniversary of america's recognition of the independent nation of finland in

1919 as president wilson wrote, our recognition was prompted by our sympathies that caused our own declaration of independence in 1776 a century after we establish established our alliance, our nation's close cooperation on defense. finland is not a member of nato. we can save a lot of money finland participates in many nato missions and exercises and i'm pleased that finland is substantially increasing its military budget. america and finland are working together to advance stability freedom of navigation and respect for national sovereignty in the arctic. both of our nations are committed to a secure arctic region, interference and

coercion simply put, we believe the affairs of the arctic should be governed by the actual nations of the arctic. there are other people coming into the arctic and we don't like it. we can't let it happen we won't let it happen >> the united states are likewise partnering to secure the 5g networks. it's critical we use safe technology providers, components and supply chains. we welcome the establishment of the oros innovation center in finland. whale com has done a fantastic job with that. we're glad that the finished company nokia, it's a great company, a global leader in 5g technology is developing its cutting edge products right here in the united states at bell

wlabs in new jersey. across the united states, foreign investment from finland totals over $10 billion. each year, finnish overed company companies expand our exports by more than $1 billion just today finnish nokia tires opened a new manufacturing plant in dayton, tennessee, a $360 million investment that is creating hundreds of brand new beautiful jobs for a great state, tennessee we love tennessee. so they made a wise choice you never lose when you go to tennessee. i encourage other finnish companies to increase their investments in the united states there's never been a better time to do business in america, we have passed the largest tax cuts, reform and regulation cuts in the history of our country.

we slash business tax and fueling job growth through our record setting campaign to abolish all of those really terrible unnecessary regulations. the american economy is booming, wages are rising, incomes are soaring and unemployment has hit its lowest level in more than half a century we want finnish companies to join in america's extraordinary economic revival so many countries are coming in, it's the hot place we have the hottest economy in the world, and it's the hot place to be. we all want to be here the president and i are working on a way to improve international trade based on the principle of fairness and my favorite word, reciprocity finland now holds the rotating presidency of the eu council will support our efforts to

achieve a mutually beneficial agreement with the european union. we have not been treating this country right for many years and i tell them and i know it. america's trade deficit with the eu has been averaging $160 billion a year for many, many years. achieving more balance would greatly benefit both finland and the united states. we also appreciate finland's strong partnership in combating predatory trade practices including the theft of intellectual property. from trade to security, to travel to commerce, we are close to the people of finland, great people we're now working on a deal to sell a large number of airplanes, fighter jets, hopefully to finland we'll see how that works out, but we make the greatest jets in the world, we make the greatest missiles and military equipment

in the world, nobody's even close. mr. president, i want to thank you again for visiting the white house. the history of our two nations is a profound testament to our independence and resolve i look forward to continuing to work alongside of you, as we safeguard our precious sovereignty and build hope, harmony and pace for the american and finnish people. thank you very much for being with us at the white house and the oval office. we had a very special number of hours, appreciate it very much thank you, sir >> thank you, mr. president. first of all, i will pass on your condolences to finnish people before meeting, i had to some spare time, so a few films here

american african history -- and i had a possibility of attending ceremony in arlington. mr. president, you have here a great democracy. keep it going on we had a very good discussion with the president diplomatic relations are 100 years old, during that time, we have developed our corporation, not only in official meetings like this, but american and finnish people, scientists, for example, meet each other cooperating together we have quite a lot of

cooperation in security sector, also in defense. because i think we have a feeling that the most important thing for the nation is to guarantee security to its citizens that is the starting point for this cooperation i wanted to take up with the president the importance of transatlantic cooperation we all know europe needs usa. but i say that usa needs also europe we know the price of everything. we should record also the value of everything. we share the same values democracy, human rights, rule based order.

and in that we are very similar. europe has in a way awakened during the couple last years to understand also more about security part of you and i just want to tell you that in my opinion, the stronger europe we have, the stronger partner you have the arctic area, you know, finland is very north. is becoming more and more interesting. we both alongside with 6 countries. form the arctic console. and we are working heavily there are surely possibilities like we've heard, the maritime roots are being opened to maybe they are also resources, but

there are huge risks one of them is that we should keep the low tension we are used to have there. and that is what we have been discussing and i do appreciate the president's positions to emphasize it is into the a place for military but even greater challenges, the environment. and i'm very glad we started to talk two years ago in this very house about black coal it is not the best, which is climate problems but it is -- everybody can understand that if black comes down to ice and to snow, when the sun meets it, it melts down.

the melting of sea ice is crucial. i used to say if we lose the arctic, we lose. we have a couple important ones on arms control. some of us remember the best years of cold war in 1960s, there was no agreement at all. just gold war. we can't let the situation return no agreement at all about arms control and that is why it is important to try to negotiate new agreements and to continue the new start agreement, that would be a good new start for international cooperation on

th that mr., you referred to 5g. the issues i hold, we are proud to have the excellence of the center of excellence in helsinki the u.s. has been helpful in that, very many countries are working there together to fight against the future danger of warfare. what comes to providers in that area i am not very willing to point out any country or company we are now maybe a bit late from usa in eu, making a risk assessment

it would be prepared in 1, 2 weeks time after that, we are in a place that we have to choose the tools to protect us. mr. president, i want to thank you very much for having the possibility of meeting you here. it is very valuable i found. the discussions very open, very interest i interesting and giving a lot to my little country. thank you, sir >> before we take questions. something happened that's been -- been going on for many decades, and we came to a conclusion -- could i ask ambassador pence to come up for one second and explain the importance of what just took place? this has been going on for many, many years and this is ambassador pence, no relationship to our great vice president. >> hard to believe, nobody believes that, but that's true

>> i have been introduced as his father, brother, cousin, uncle we are friends, good afternoon when i arrived in helsinki about a year and a half ago. there was a stack of papers on the desk, include iing indigenos peoples in america a lot of their remains had been excavated everyone removed along with 500 artifacts to finland. and there they remain despite a lot of activity to get them back through the good offices of our state department the president and his entire

team, we've secured mutual agreement whereby all of those remains including a number of petrified bodies will be going back to be put back where they were buried. so it's special to us, and i think it's probably special to indigenous peoples around the globe that we're all concerned about paying appropriate respect to those who have departed before us. thank you both of the presidents for supporting this. >> thank you that's a great job, mr. ambassador that's been going on for many, many decades i just want to thank you outstanding. john roberts >> mr. president, thank you.

if i could, i've got two pertinent questions to ask you, maybe i can ask them separately to get a fresh answer out of each other one the three house committees that are looking into the impeachment inquiry, gave notice they will be sending a subpoena to the white house for documents and other materials. will you cooperate with those subpoenas. >> i always cooperate. this is a hoax this is the greatest hoax. it's just a continuation of what's been playing out since my election, i would say, if you want -- probably we'll find out soon, but probably even before my election. this is a fraudulent crime on the american people, but we'll work together with shifty schiff and pelosi and all of them, and we'll see what happens, because we did absolutely -- i had a great call with the president of the ukraine, it was 100% -- you have the transcript. and schiff went up and -- the chairman of the committee, got up and related a call that didn't take place.

he made up the language. hard to believe. nobody's seen this, i think he had a mental breakdown he went up to the microphone and read a statement from the president of the united states as if i were on the call because what happened was, when he looked at the sheet, which was an exact transcript of my call, done by very talented people that do this. word for word, he said, wow! he didn't do anything wrong. he made it up, he went up to the microphone and in front of the american people and in congress, he went out and he gave a whole presentation of the words that the president of the united states never said. it has to be a criminal act, it has to be, and he should resign, and some people even say it was treason. but it was a very sad thing. just so you know, the call was perfect, the real call, the call i made many people were on the line, i knew that. usually when i speak to foreign country leaders, you can name

any one of them. when i speak on the phone, i know we have many people listening from various intelligence agencies. my knowledge, i know about it. this isn't something like oh, gee i'm on the line, let's talk about a big secret i don't even know how many we'll find out i guess, mike pompeo was on the line they listen for knowledge and security reasons and for lots of reasons. but the president of the ukraine at the united nations the other day -- and previous to that, he announced through his spokesperson said there was absolutely no pressure put on him. there was no quid proquo at all. and if you look at this whistle-blowers -- which i have a lot of respect for whistle-blowers -- his report of the phone call was different from fact. what got them, they never thought i was going to release the call i don't like doing that, i don't

want to -- i hope i don't have to do it again, release phone calls to foreign dignitaries, foreign leaders. i don't want to do that again. i did it with the permission of the ukrainian government we got permission, we called up their representatives and asked them, would it be okay otherwise i con the have done it if i wouldn't have done it, i would have been exposed to a lie. because the whistle-blower report, didn't he say seven or eight times i said quid proquo in other words, you're going to do this or you're not going to get money. in all fairness, biden said it, and he's on tape, in all fairness, you have at least four united states senators that said it, and they said it a lot stronger than schiff and his made up story said it. obama, when he was dealing with the president of russia, not putin, he said, hey, tell vladimir, i can do a lot more

after the election you remember that? you didn't make a big deal out of that. season the that cute my talk and my response -- lindsey graham said, i never knew you were that nice. he said that loud and clear. it was perfect it was perfect not a thing wrong with it, to impeach a president over a fraud that was committed by other people that want to win an election in 2020, which they woen with the is incredible. this is the greatest hoax -- now, it's gone on for a long time we had the mueller collusion delusion, okay that went on for years and that's finally done. no collusion, noobstruction, n nothing. it was a joke. and everyone knows it, and it was from day one now, i get three days of peace, and i'm walking into the united nations, going to meet with the biggest leaders in the world,

and i hear about the word impeachment, i said, what did i do now it was about a beautiful conversation that i had had, and just remember this, the ukrainian new president, a fineman said, i don't know what you're talking about, there was no pressure. and he said it a number of times. what's your second question. you shouldn't be asking two questions. >> well, you're going to want to -- >> do me a favor ask one of the -- >> i will. >> john, john, ask one of the finnish president. >> and then can i come back to you. because i think you'll want to answer >> well, it sounds like it might be a good question let's see if i like the question maybe for the first time i'll have a good question >> there was a report that came out just before you walked out here, that the whistle-blower met with a staff member of adam schiff prior -- >> i like that question. it shows that schiff is a fraud, and -- >> i love that question, thank you, john. >> can i finish asking it? >> there's no to finish.

>> the whistle-blower met with a member of adam schiff's staff, you got it right there, you know it >> i hate to say it's the new york times, they wrote it. maybe they're getting better >> your response to that happening and schiff may have learned some of what the whistle-blower knew before -- >> i think it's a scandal that he knew. i think he probably helped write it, okay that's what the word is, and i think it's -- i give a lot of respect for the new york times for putting it out just happened as i'm walking up here, they handed it to me, i said to mike, whoa that's something, that's big stuff, that's a big story. he knew long before, and he helped write it too. it's a scam, it's a scam just to finish on this, i appreciate it, i love that second question by the way should have asked it first but let me just tell you, the whole thing is a scam, the mueller deal with as a scam, the

russian collusion was a scam you can ask putin, nobody's been rougher on russia than donald trump, okay? with that being said, it would be great to get along with russia, and we will get along with russia, because it's smart. but nobody's been tougher on russia than donald trump okay, ask one please >> yes, mr. president, good to see you again. you had a conversation with president trump about 5g and how nokia could fill in that space you also met with president xi during the summer in which you renewed the ties of friendship between the two nations. do you believe that countries, particularly western countries that put huawei equipment in their 5g cords, are at risk of security >> like i said already, maybe the situation in europe is different from that here because the company you mentioned is inside europe,

partly at least. what european union is now doing is making a risk assessment. asking each country what kind of experience, what kind of -- what you have seen and found out. and that will be finished in week or two weeks time and after that, we have to decide together in european union which kind of tools we need to protect ourselves. you refer to my discussions with the president xi we didn't talk about 5g. and we all know, nokia is a major factor in this area. they will answer for themselves. thank you. >> pick somebody who is really nice i think they're all nice in

finland. >> fininform ish reporters just two okay yes? >> from ntv news finland vie one question for president trump and one question for president. how will the political storm affect the u.s. policy, especially the u.s. relationship with finland and second for the president of finland, what kind of favors has mr. trump asked from you. >> or the other way around. >> what favors i asked. >> or the other way around. >> both ways, okay. >> the political storm ierk lived with it from the day i got elected. i've done more, and this administration has done more than the history of this country in the first 2 1/2 years i'm used to it

for me it's like putting on a suit in the morning. people have said to me, how does he handle it rush limbaugh said i don't know of any man in america that could handle it. sean hannity said the same thing. i don't know any man in america. because it's all a fraud because of that, because i know i'm right and because i'm doing a great job for the american people i'm very, very happy living the way i'm living. i thought i would finish off the first term without the threat of people making false claims this one turned out to be incredible all because they didn't know i had a transcript, word for word, coma for coma, we had an sxhakt transcript when they produced that transcript, they died because you look at the whistle-blower

statement and it's vicious vicious. and that whistle-blower, there's no question in my mind that some bad things have gone on. and i think we'll get to the bottom of it i think it's going to be a total reversal but i've lived with this cloud now for almost three years more than that because it probably started even before and i think nobody has done what i've done when you look at tax cuts and regulation cuts and rebuilding our military and right to try right to try that means people that are terminally ill and sick have the right to use our medicines, great medicines, because we're so far ahead of any other country. so many things we've done, our vets are now taken care of we have choice nobody ever thought we could get choice you have to wait on line as a vet. you go outside, get a doctor, we pay the bill you don't have to wait for three weeks to see a doctor if you're a vet. we cherish our vets.

at least this administration does for many years, they didn't. i take care of the vets. no administration has done and i've lived with it from the day i got elected so i'm just fine with it. okay >> yes, we had a conversation and discussed on a very equal basis, which is i really appreciate that. i had one request specifically i wanted the president to take more notice on transatlantic relations, because i consider it's useful for both usa and europe what we were discussing also trading. i told the president that the big purchase we are do iing will be finished in two year's time we have five different

candidates, three from europe and two from united states he answered that ours is best. >> jeff, go ahead. >> thank you, sir. i would like to ask you about your use of the word treason do you consider anyone who opposes you treasonous >> no. i consider when they lie, when they stand before our great body in our great chamber and they make up a story that's fiction, like schiff did. he took that perfect conversation i had with the ukrainian president and he made it into a total lie. it was a total fabrication and you do admit that. it was a total fabrication he said this is what -- the only ones that don't like my conversation are the ones that never read it, but they heard

shifty schiff. that's what i call a lie because of the fact that he's lying about the president of the united states and as to what the president says -- believe it or not, i watch my words very carefully. there are those that think i'm a very stable genius, okay i watch my words very, very closely. and to have somebody get up and to totally fabricate a conversation that i had with another leader and make it sound so bad, it was so evil and now i see this, that just came out minutes ago, where he met at a time that was impossible to have done, unless there's corruption involved. and just so you know, we've been investigating on a personal basis through rudy and others, lawyers, corruption in the 2016 election we've been investigating corruption because i probably will i was going to definitely, but i

probably will be bringing a lot of litigation against a lot of people, having to do with the corrupt investigation, having to do with the 2016 election. >> for example >> and i have every right to do that, because the way they've treat immediate and other people -- they've destroyed people they've destroyed their lives with a phony charge that never existed and that was collusion never existed. you had 18 people that hated donald trump and you had bob mueller that hated donald trump and in the end they couldn't find one damn thing. i could find it on you they couldn't find one thing about donald trump having to do with collusion this is after two years and spending $42 million and i've been looking at that long and hard for a long period of time. how it started why it started it should never happen to another president, ever. but i've been talking about it from the standpoint of bringing a major lawsuit and i've been talking about it for a long time we've been investigating the corruption having to do with what they did to my people they destroyed many people

they came down to washington to do a great job and they left home -- they left washington dark they were dark they came down here. i say bright eyed and bushy tailed they wanted to do a great job for the people we won the election and then they get served with subpoenas all these subpoenas. now look at nancy pelosi nancy pelosi hands out subpoenas like -- you know, she has to approve it she hands out subpoenas like they're cookies. you want a subpoena? here you go. take them. like they're cookies paul ryan would never give anybody a subpoena he wouldn't give them when mark meadows with went in to talk, he wouldn't give them when jim jordan went in, devin nunes. i'm not saying wrong or right but paul ryan, no, let's talk about it that's a big thing to give a subpoena let's talk about it. two weeks later they're still talking. they wanted subpoenas to

investigate the corrupt democrats and the corrupt people on the other side. paul ryan would not give subpoenas. nancy pelosi, here you go. take it. who wants a subpoena every day you get subpoenas. and paul ryan was actually right probably because they should never, ever allow a thing like this to happen to our country again. thank you, please. >> mr. president can you make clear right here, what do you or what did you want president zelensky to do with regard to joe and hunter biden >> if you look at what he said, okay -- and he brought it up i think he brought up the name rudy giuliani. what i want is the following and i said this loud and clear we have our ambassadors here we have mike pence here. why are we the only ones that give the big money to the ukraine? we give money to ukraine and it's bothered me from day

one. you have plenty of people just here how come it's always the united states that gets ripped? frankly, ukraine, we want to help them. and i do like the new president. do you know why i like him he was honest, because he said there was no pressure at all exerted on me, meaning him, by the president of the united states he said it by the way, that one sentence should stop this but he said there was no pressure exerted but you don't have to ask him. all you have to do is read the transcript, read the telephone call what i was having a problem with two things number one, ukraine is -- before him, tremendous corruption, t m tremendous more than just about any country in the world in fact, they're rated one of the most corrupt countries in the world. and i don't like giving money to a country that's that corrupt. number two -- >> you don't like giving money >> excuse me number two, i said the following.