crazy. ashley: now they're blaming him for what he didn't say. stuart: we are agreed on this one. our time is a period cheryl: is friday. stuart: you can have 10 seconds of my time. neil: i liken that to the crazy uncle i'm sure this brings home true to you. he you. he likes to say crazy things and you just move on. stuart: it's not trumps responsibility to correct a question. neil: good to see you for a riveting few hours. we've got the dow down 154-point. questions as to where the money is going. we think we've got a few places. the ten-year treasury note yielding 2.16%. people earn a spot to the

security as they were yesterday. 30 year, 2.9 x is down five basis points. then take a look at the two year period so when does yield are moving and most betimes down day over day and certainly week over week it seems to be the markets way of saying maybe there is a slowdown coming in with the federal's nerve davis acknowledged that. when people start placing their money on the safety and security, it does tell you something. or maybe even worse a recession. connell mcshane his hair, lauren simonetti is here. >> the fed confused everybody yesterday. did the golden golden opportunity to raise rates because they promise to protect them. you know somebody said on the 5:00 a.m. show? they will hike the price in her.

and they'll just hike rates. neil: the next scheduled again this october. lauren: correct. december you do. i would think that would be more market moving at the fed hiked around that. but who knows. what the fed said and didn't say yesterday if it's a mess. we need inflation to go up a little bit. there is no inflation there. you want the job market to get better fine. we are watching what's going on overseas. but how bad is it? i was just talking to gordon chang. he said it could be two decades. neil: is very depressing. lauren: he did depress me. neil: you can never interpret in the moment, but when traders are placing steaks on a slowdown i don't incur smartness to gauge

when the federal reserve does it. but they seem to be putting their money where their pessimism is. connell: we could make too much of it or was he at the next few days ago. what came out of yesterday as the fed may see some and we dealt. to the point she was starting to make, things are worse there than we thought. we stirred to read into that still yields start going down. neil: without the help in the economy, we had god more maker recoveries. i think that realization -- lauren: when the fed stop the stimulus last all, where does the stock market on from there?

the stock market is different from the economy. but if the u.s. can't handle a quarter basis point move in the fed funds, what is that going to do? neil: my bigger point is i wasn't expecting it. i could be wrong. one thing that surprised me old, was the fact, the alarm you pointed to. now with the day afterwards i am beginning to see how they reassess things by buying treasury bills appreciably over the last day, they seem to be guarding them of her something that. connell: doesn't mean they are right. the fed has set up an argument about how important they are or relevant they are now because of what they didn't do yesterday

which made me believe they can't do much more. that's why we say the stock market is the most important game in town. we have to agree the federal reserve has been in to do with that said the transition to maybe not be the most important game in town. not as relevant as everybody thinks they are because the federal reserve is out of bullets. they don't think of their own minds that they can do much rather then let events take their course. transfer how do you get americans more confident? the 401(k) is what you're doing. you are not making anything on savings account or cd. there's a return anywhere. it is the 401(k), the stock market. neil: omar machiavelli and strategy. they don't know what to do. connell: said last week the conversation would change. we start to ask ourselves why

not. neil: thank you very much. the lack of clarity of my site yesterday in the telegraph what his next move would be. not that it's never that clear and if it did move that would have been clear going forward. but it does give her reason to say without any clarity, don't expect a lot of anything else. what are we looking forward to now in the next few months? >> people will start seeing the actual data indicating the fed should not raise rates. personally would love to see us get back to normal rate environment. it's a little late in the game for that. if i look at what's going on, unemployment coming down is not the real story. the real story of the people at jobs is back where it was 40 years ago. the same time record high job

opening. businesses can't find the same skills. neil: that's a very clear picture. no clarity, no calm. you can have. you can't have. you can't have koman markus whipsawed with a record number of triple digit swings with information like that that doesn't give them a sense of what's next. >> you will have all of that because the fed for years and years have been saying don't worry i got it and doing everything it can to suppress volatility. volatility is a natural thing. you suppress it for so long and eventually you will get hyper volatility. we are on top of this. we know how to do it. i.q. is saying, the machiavelli of bureaucrats don't have a way to fix this because they go about it based on the wrong assumption. they say the way to get the

economy going is through low interest rates. low interest rates or half of the problem. neil: we are always assessing whether we've got another bubble in the bottom market or real estate, which would mean the crisis eight years or so ago. those dire warnings seemed to me to be a little overdone. what do you think? >> let's look at the basics. we used to have an economy that was healthy and then we caught a nasty cold called mortgage-backed security. rather than just dealing with the cold and getting over it, the economy basically laid on the couch engorged on even more debt on zero interest rate policy is and all kinds of said activities that were supposed to get the economy going. i've got this guy in the couch for the past 10 years doing nothing but drinking and live a non-ben & jerry's and doritos.

neil: way, what is the problem with that? the doritos and ben & jerry's. >> i should not then. ben and jerry are my two favorite guys. neil: at least in my mind that might have had more than you think. this is a live shot now along the hungary border. you know the drill here and drill here in what has been going on. millions of refugees in syria. we heard estimates as high as seven or 8 million. europe doesn't know what to do with them. germany was the most generous sample taken 800,000. now germany is building wire fences and doing the same on that border because they simply do not know what to do with record numbers of individuals seeking asylum. you've never seen this many

conflict in themselves on this many countries. that kind of development is something they cannot live up to. the money it takes to deal with this part of europe was yet another bit of noise the federal reserve didn't even didn't want to agitate. >> certainly this is of great concern. beyond the deal there's other possibilities in the middle east that could add to the problem. the syrian civil war for years on is not over. we basically have is still not. russia is now involved. what about if the islamic state makes great gains in iraq? the city of baghdad is 7 million people itself that damascus is only 2 million. neil: i understand on these gop developments, there's few better than you.

but how and why would that affect your decision-making? you see it is dangerous to raise rates in the middle of what's going on in the globe or do you ignore that or is the fed saying, urging from the world bank and other countries, don't make a bigger mess out of something here. >> i certainly can't in and to channel what they are thinking. i don't think they would want me to. from a geopolitical standpoint geostrategic standpoint with china in the last couple weeks will cause instability and economic challenges. social and economic costs to deal with this whether you allow people in this refugees or treat them as migrants and return them. and what is going on in the middle east. there's a lot of instability. but they were to the federal reserve to decide whether to raise rates. there's a lot of instability in the world.

libya is telling americans to get out of libya. we are reducing forces in afghanistan. there's a lot of trouble and they may be looking beyond asia to what's happening in europe in the middle east and make decisions. neil: thank you very much. we are watching the situation with these refugees. normally officials in the middle of the election-year although they've done so several times in the past and they don't like it in the middle of the world crisis are agitating the world crisis. and the rest of the road goes one way, lowering interest rates or keep them if they wrote in the federal reserve might think about the trend. so they didn't and it's getting ugly. stay with us.

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neil: i want to take you to the florida house right now where they are debating up to three different plan parenthood does. ultimately the goal without getting involved in the arcane procedures here that others know far better than i that i that they want to challenge democrats and the president in federal funding for word to take it out of the budget. some have said republicans are so strongly against plan parenthood that they would sacrifice the government itself, shut it down to force the issue. mitch mcconnell said that isn't going to happen. we heard from harry reid and nancy pelosi. they don't think that will happen. the president himself has sworn he doesn't want that to happen. you know how things go. before you know what we are weeks away from needing to see

the credit line increase. it could happen. we will keep you there. let's look at the doubt. a 200-point loss. growing concerns about what the fed might've seemed that that we might've missed raising the slowdown or recession or china. ahead of the chinese president's visit to the country, probably not instead. the guy who literally looked at books on the subject. when you wrote that, it seemed far-fetched. now not so much. >> what we've seen since the middle of june. stocks plunged from a crazy week. information of the chinese data provider says china is losing $135 million of capital outflow every month. even now.

clearly the problem right now is people feel there is no possibility of making money in china and monies coming into the city. condominiums by the chinese is a leading indicator of where china is going. neil: they can create a bubble here. on the southern ocean they are coming here for a big state welcome. a number of republicans including scott walker of wisconsin said it's a waste of time you don't want that kind of an honor. >> theoretically there's nothing wrong with talking to the chinese. what is wrong is legitimizing the communist party. she shouldn't ping is coming here not because he wants a dialogue with our president. he wants televised images to go back to china one time the

fragility, they say look, president obama, the u.s. is honoring us and particularly saturday. that is not what we should be doing. neil: what is the difference with that in the meeting? >> they will not get televised images. neil: they would get televised images of the president talking in the oval office. >> depending how you do it. we talked to the chinese in ways which give them and bolster image. the other thing is we think good relations are friendly relations. good relations or when you get what you want and we haven't been getting what we need. they need us more than we need them. so god has given them this great ed over us. the feeling seems to be we are always on defense and we don't have to be.

we don't realize we have the card here. >> we hold all the high cards in the summit with a day. he has an economy if it's growing at all, in the very single low digits and clearly plunging downwards. neil: how would you do with that? trump's responses stop it, we'ret going to trade with it. >> appointed we get what we need. the chinese cyberattacks -- i think the chinese are so weak at this point that the president were willing to do what reagan did, which is talked to be willing to back it up with action, that's important. neil: they are building whole military complexes out of ireland. obviously the attacking goes on and so they keep doing what they're doing. >> so many things the united states should be doing.

one is freedom of navigation in china in the south china sea to send a message we are protecting the global commons and we will not be scared off of international water and errors raised. we don't do even simple things. chinese keep pushing because they realize there's no push back and that's why they attack networks and build proclamations in the south china sea and how predatory trade is. they keep doing it because they can. right now when we have all of the chips, and this is just insane. neil: it is remarkable. that's a good spin on it. thank you very much. the dow down 215 points. republicans look at something like that and say this keeps happening. great for the party challenging its way into the white house.

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neil: we always look at the data down 228-point. oil reversing gains we had been prior to the fed decision yesterday. the perception then we see a wytheville buying, that you think there is a slowdown. you think there is much of a demand for oil? in other words a supply demand relationship starts going against the praise and it goes down. that appears to be the case right now. what is a politician to do. if you challenge your way into the white house, hillary clinton young as they wanted. look at the positive and step back and see how things have improved over the last six or seven years. it's a battle of winning over people with an optimistic point of view.

republicans have been really quoting his name to say they are deployed out reagan. >> what i think of ronald reagan. ronald reagan. >> ronald reagan. >> president reagan. >> ronald reagan. >> ronald reagan. >> ronald reagan. >> ronald reagan. >> ronald reagan believes in america. neil: i thought we edited that. that was actually a nonstop ride from these candidates. obviously everyone would dream to be like this generation's reagan. deputy secretary mark weinberg said at least these guys from what you've seen -- >> i'm impressed by their credentials, but not by their behavior. it is mean-spirited. it is personal.

it is angry and it's ugly. neil: ronald reagan was facing 15 or 16 challenges. >> i don't think there would be 15 or 16 people who would've challenged ronald reagan. what he would do is what he always did be himself, tell me what he believes, why he believed it and look forward and optimistically towards the future and you wouldn't lay my downgrade other people. neil: things got nasty and 76 and who is challenging gerald ford, turner pulled it off. did he let his surrogates do the nasty stuff? i just never -- notice he never got his own. >> first of all in 1976, if you notice most of the attacks such as they were were against henry

kissinger and not against gerald ford. so he went out at around a day. and when he did he cannot president ford, it was never personal. it was never mean-spirited. it was never vicious and never ungentlemanly. their differences he pointed out. that is what you're supposed to do in the campaign of how policies. not personalities. neil: at the reagan library no less than these guys are ripping each other a new one. donald trump not less most of the attention and questioning. donald trump is singing ian ronald reagan shared a great deal. do you know these guys and their relationship with the former president? i've heard different accounts. what is the real story? >> they knew each other. i wouldn't dare close relationship at all.

i never heard ronald reagan mentioned donald trump name. they knew each other. they were not closed or tied to one another in any way. >> some white house staff at the time were dismissive, that he was an egomaniac and all of that reagan was shrewd enough to work within on some common business interests. beyond that, nothing. >> ronald reagan could work with virtually anyone in the last part of his charm including tip o'neill of all people. i do like all of reagan's policies or not. neil: all or nothing in this environment today. weakness is negotiating with the other guy. >> know what not. ronald reagan understood to govern you have to get along with people and getting 80% is better than 0%. it was not his way or the

highway. it's what is best for the country. neil: do you think in this day and age ronald reagan could get the election? >> he would be appalled by the campaign and how mean-spirited and personalities. i don't even know if you'd be willing to participate in an event that is so mean-spirited. neil: who is the nicest of the candidate right now. the best able to claim era she is then that reagan's own. >> no one yet. neil: carly fiorina, what do you think of her? >> she is smart. she is emerged from the debate earlier. neil: she's like a modern-day margaret thatcher. >> there'll be a lot of scrutiny for years in business is all there should be. that is where the discussion should be. not about her looks, but about

her record in what she can do. neil: we did talk to each other and not say nasty things about each other. [inaudible] >> i remember. neil: mark weinberg, thank you very much. assistant press secretary under ronald reagan. what we are focusing on is two things. oil and interest rates both coming down. the yield are coming down, which tells you folks are putting money on a slowdown, really.

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. neil: all right, the sell-off ensues, down 220 points. quick look at oil. if you assume the world is going to slow down or the fed sees something you didn't appreciate yesterday, you're not going to be park your money in oil, you're going to be taking it out. obviously there is not that much demand for that product, that's what's happening, and you're also betting it's a good bet to keep your money in the safety and security of treasury instruments, something we've been seeing. the oil thing that's probably the most worrisome development to hillary clinton and could explain what she had to say about a certain keystone. listen to this. >> i have been waiting for the administration to make a decision. i thought i owed them that. i worked in the administration. i started the process that is

supposed to lead to a decision. i can't wait too much longer and i am putting the white house on notice. i'm going to tell you what i think soon, because i can't wait. i thought they would have it decided way, you know, way by now. neil: why not just say something right there? that's just me. to the "daily beast" jackie kucinich, she is telegraphing before opening this thing, i could be misreading. what do you think? >> i have to agree with you. i don't understand why she didn't say it right there. neil: i'm sorry, i've been waiting for them, here's what i'm going to do. >> right, i was curious about that. but yeah, seems like she's telegraphing she might want to open this thing, if she does it might alienate the progressive base again, they are already mad at her why, they are looking at bernie sanders, that's why they're looking to keep their options open when it comes to joe biden. neil: you're the expert here,

but here's where my thinking goes, she knows she's going to lose some of the progressives but might win over some unions who have been flirting with biden, flirting with to a lesser extent bernie sanders, because they want that, that pipeline open, and they want the job that presumably come with it, so she's going to make i guess a foustian choice here. >> right, the unions are mad at her because of her stance on the trade agreement. maybe she needs to throw them a bone. i don't know if this is going to turn the tide against hillary clinton, this took a long time to build up and one position isn't going to really take it away right away. neil: jackie, do you wonder that she's having these problems at the right time. i don't mean to dismiss the severity of them, everyone is piling on them, we are months away from the iowa caucuses,

she might have time to stabilize the fall. >> of course. neil: if things change, if joe biden enters the race and other heavyweights think about entering the race, for me her biggest worry has to be the markets, got to be the economy the reflection on a slowdown that might be so pronounced that it has taken the federal reserve off the pedal here, and that, that is her biggest threat. >> i agree with you, when voters go to the polls, they care about the economy. we've seen that in last couple elections. so she's smart to focus on that, and you're absolutely right, it is early. there's time to turn the battleship into going into the right direction when it comes to the clinton campaign but they are trying to be proactive and you have to give them that it hasn't been going that well for them. neil: real quickly, you think if she decides i'm for keystone, for opening up, i'm for making a salvo or an opening pitch for unions, that won't do much good for her?

>> i just don't see it turning being the catalyst to turn the tide. when you look at her numbers, it's been honesty and whether people can trust her, that's been the issue, it hasn't been keystone. neil: well said, good seeing you again, have a great weekend. >> you, too, thanks, neil. neil: back to the markets, look at oil again, i'm going follow this a lot, we always follow the dow, i won't ignore that, but i want to focus on oil, i want to focus on interest rates. they are joined at the financial hip here. that slips on the prevailing view that things are slowing down and you run to quality, you run to a safe investment, the yield on a 10-year has come down because people figure, look, 2% of my money beats losing my money. so if you are looking to buy a house, your ship has come in, that assumes you have a job. we'll have more after this.

.

neil: all right, talking about china's problems and how it might be a big factor in the federal reserve holding off on not moving on interest rates. think of all the investments there and the highfliers there. alibaba proof of that, and it is getting cut in the cross winds. who knows that better than jo ling kent, ashley webster here as well. what's going on? >> seen this tumble, the first birthday of alibaba ipo isn't great for jack ma or the new ceo, you have the chinese economic slowdown, so there is concern about consumer demand, what about alibaba do? consumer demand. you have international stockholders and international investors skittish on that and the market volatility in china causes a lot of stress, plus the stock down 45% as a result. there's a lot here in terms of corporate governance, questions that haven't been answered. when i interviewed jack ma at the new york stock exchange he said it's all about trust, trust us, we can do this, and

now they're still countering. what are they doing? counterfeit goods, allegations of fraud, a very challenging time, plus competition from jd.com traded on the nasdaq, making inroads in china. neil: not a good confluence of events. >> it's not, to making the painful transition to a consumer driven economy, but they have a government as we've seen from the markets that's really heavy handed, not really sophisticated. neil: are they banning short selling? >> they put it in a suspension for a short amount of time. i do believe they've maintained that ban in place. neil: and here if you're selling stock at all? >> god forbid you report something not positive for the markets. neil: that was always the rap against them, it went public, and i know you raised them when you saw it, the biggest thing i remember from the interview, do you appreciate your wealth? think about how wealthy you are? he said no, which was his first of many lies. [ laughter ]

>> one way of putting it, i guess. there's just so much about alibaba that we still don't completely know, plus the fact they're on a really big spending spree, that will affect the stock price, even investing in u.s. tech companies, acquiring -- neil: spreading the wealth before the capital goes, right? >> one way of looking at it, but the "barron's" article showing the validity of the numbers, even though alibaba hit back and responded, you are reminded of the gdp numbers in china, the consumer data in china. neil: this is a big issue, this trust. >> seems that alibaba you could make the argument is a proxy to what's going on in china overall. >> a huge indicator. >> a huge indicator, and because it's so opaque, we can't get a handle what's going on in china. drill down to the real economic data, and i wonder about alibaba too, whether they're overstretched, and whether everything is built on potential rather than reality.

neil: but the flip side of that is there's so much internet e-commerce potential in china. >> even if the economy goes south, so many people are shopping on alibaba for day to day goods. if they continue to go online, the middle class that isn't fully online yet, you will see potential growth. neil: good thing the alibaba guy said he doesn't focus on having money, when the cycle is over, he won't. >> he's a good man. neil: what is going on with apple, i downloaded this ios 9, everything is going kablooey. i have 12,751 e-mails. >> i just stopped hitting send right? >> do you ever answer your e-mails. neil: apparently i'm not alone this is happening to a lot of people. this is a big problem. >> it seems to be an issue, there may be battery life issues, but i think you have what psychologists call update hate and this always happens. neil: no, i've updated before,

ashley have you updated the abacus? [ laughter ]. >> three beads to the right, three to the left. >> the tin cans? >> the string is thin. neil: are they going to get over this? not a huge deal. >> not a huge deal, there's a little change in terms of updating the technology, but apple has a bigger problem on its hands. the watchos 2 has not been updated. they said they have a problem. >> ashley had the best line. could be from the 12,700 e-mails. when we come back, the boomers and the pope. that image, after this.

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. neil: all right, here comes the pope, and here come our bitter boomers. i want you to picture that, charlie gasparino, stephen leeb, lizzie mcdonald, charlie brady. very high expectations, gaspo, for the pope, and there's a lot of angst here that he's going to lecture the house on climate change. conservative catholics are saying it's not your job. >> i will say the pope is very popular with millennials because he speaks to their brainwashed liberal craniums every day about climate control, the evils of capitalism, and i tell you where he's losing support where the catholic church is losing people is like me, boomers, i sit there and i'm saying -- >> do you go to mass? >> i have been to mass. neil: when? father forgive me for it has been 17 years since i confessed. he's already lost you. >> well, the catholic church lost me for a lot of reasons.

>> exactly my point! >> we're worried about climate. the pope has made more statements about the evils of capitalism, climate control than he has about sex abuse that occurred in his church, you than? neil: he did come into eradicate it and punish it immediately. >> okay. >> priorities. >> at least from what i hear, charlie this is when i disagree with you on, not about -- neil: what? what? china! >> not about all the abuse in the catholic church, that's obvious, but i think this is a very spiritual man, and i think he does try and represent good and you may not agree with what he's saying, he's delivering a spiritual message. >> i want to prioritize. >> to a country that has lost all spirituality including the millennials. >> boo. >> including the millennials. >> for a spiritual guy that spent so much time on secular issues.

neil: do you think they transcend lizzie? >> i don't know if this transcends, what he's trying to do is say hey, we need to get millennials into the church. 16% identify as catholic right now. neil: according to pew? >> his message about the poor speaks to the idea of millennials before we became bitter boomers, we were carrying about the poor. >> we should do a fact check here. what has done more to put food on people's tables, capitalism or the catholic church. >> that's a given, the pope is talking about different needs than any economic -- >> come on! >> he is. i read what he's saying, talking about greed and selfishness. i'm agreeing with you. neil: charlie is still angry. >> a very bitter boomer. >> the peronus more greedy.

neil: i think this is a very, very shrewd reader of the economic tea leaves and realizes that the pews are not exactly full and needs to fill them up, and part of it is to reach out to younger people and to reach tout -- out to latin america, the business is dying to the business model. >> whoa, whoa. >> he's reaching out to the nonjudgmental generation. how ultimately you're going to get them to square the circle. >> wait a second. you know what the bitter boomers don't like. what he's doing, his focus on the poor is square in the middle where the millennials sensibility is, it's about the poor. and the fact he's socially liberal or makes comments, that makes boomers crazy. so what! focusing on the poor. >> are you telling meet evangelicals are having a hard time filling up the

auditoriums. neil: all of the nominations are down with the church. it's down. >> so popular. >> he's one guy. neil: he has to have rallies at a stuckies now. it is way down. >> stuckies? stuckies? neil: i'm kidding you. he has got, as the pope, he's got to marshall more of the catholics. >> i hate to say it, it has totally conflated church and state. there is no more separation, they're the same. >> that's not true. that's not true! that is absolutely not true. neil: do you like his message or not? >> what? neil: do you like his message? >> i don't particularly like his message. >> in the sense it represents spirituality. neil: for god's sake, yes. >> t

had it not been for c.s. lewis and broadcasts about christianity. neil: don't get me started on c.s. lewis. >> why would any catholic support anyone who is essentially a socialist communist. >> i don't think that's part of his message, charlie. neil: all right, all right, i wish we had more time, father, forgive charlie gasparino, for he did not know. >> he did not go to mass. >> i love joel olstein. neil: we'll have more after this.

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invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. . >> big problem in this country called muslims. we know our current president is one. you know he's not even an american. >> we need this question. >> but anyway, we have training camps ruling where they want to kill us. that's my question. when can we get rid of them? >> we're going to be look at a lot of things, lot of people are saying this. bad things are happening out there. we're goin

that and plenty of other things. >> donald trump got into a heap of trouble on that, and online things are lighting up and news networks are lighting up, he was worse off not saying something there than he has been for saying something everywhere. the guy can't win. to charlie gasparino, connell mcshane, sabrina schaeffer. what is so bad about what he said? >> i don't think anyone. if donald is going to blow up, it's going to be from the words that come out of his mouth, not everyone's mouth. he put it in the right context he thought it was a joke, okay he rolled his eyes a little bit. he did not take it as a completely serious question, except the part about muslims in this country being radicalized. that is an issue. neil: the idea from john mccain, a questioner called the president an arab and he corrected the questioner, he

should have done something like that. >> trump is from the birther movement, he's judged differently from other people. mccain is the model how to handle it, you can argue this could have been handled better. charlie makes the key point, by treating this guy dismissively even in his language saying this guy is, really, this is what i need? this first question. that saves him from a political disaster. >> by the way, there is a problem with radicalized muslims in the country. neil: but it is interesting to me, sabrina, they moved on from criticizing anything donald trump says to criticize when he doesn't say something. >> no, bithink two sides of the same coin, neil. trump has exposed this populist rhetoric or the populist sort of movement within the republican party they view as concerning, and he's made lots of comments by women and veterans and immigrants that are concerning, they're

hateful. >> one veteran. john mccain. [ laughter ] >> by the way -- >> he has grown the base. connell, the argument was he did tick off quite a few people, no doubt about that, but he adhered himself to many others that it's more than offset that. >> this is just a political analysis rather than an opinion of what's happening to them. what could hurt him is the lack of attention he's going to get going forward rather than the executive attention. >> depends on money. >> there is a story from politico where they did an analysis, a firm did an analysis how much trump is getting mentioned on television, that's where you're getting on radio and on the internet, that's where you get the argument that trump has peaked. neil: they hope he's peaked. they hope he's peaked. >> they're not talking about him. that's the problem. >> look at his response, his response to this. he put out a statement that said something along the lines of, obama wants to make this

all about obama, and then he mentioned something along the lines of obama is at war with christianity, this is what he said. >> so he refocused that debate. what do you think of that? >> he's overlooking -- look, we do have a problem with radical islam, we have a problem with illegal immigration. these are real issues that face the country, but i think that when you don't shut down the hateful or inflammatory rhetoric, you are encouraging that rather than coming up with a problem solver, if he wants to be president, that's what you do. >> here's the void that donald trump is filling and i don't totally disagree with you. because the republican establishment, not just the democratic establishment but the republican establishment like jeb bush and scott walker and marco rubio won't face up to the problem we have homegrown terrorism because they are afraid to say islamic terrorists. we have a problem at the border, they won't address it.

in fills the void of a guy like donald trump. neil: that could help them. >> there are people that support. that as a leader, someone running to be the president of the united states ought to be held to a higher level. he ought to say this is not how we deal with the issues. >> should the president of the united states -- >> this is not how we talk as president. >> should the president of the united states say if you want your health care plan, you can keep it. if you like the health care plan, you can keep it. should the president of the united states be held to -- >> i disagree with this across the board. >> should the president of the united states put on a key environmental commission some guy, a head of the committee, some guy for green jobs, a truther who believed signed a petition that said maybe it was the u.s. government that did it. neil: really quickly, connell, do you think this hurts him, i think he's been bulletproof and he will remain so. >> what hurts him is when people stop talking about him. as long as they're talking about him.

>> i already don't like him. >> there are plenty of people like that. >> you know why this doesn't hurt him? if you take the obama rhetoric out, we have a problem with homegrown terrorism. neil: sabrina is right, he's losing to people like sabrina but gaining others in her absence. connell, i want to thank you charlie, i don't want to thank you. >> you're fired. >> don't look at me. neil: and charlie has reported on, this all the other guys who are just seeing that donald trump is sucking the oxygen out of the room and the money out of the room. alex is here on why jeb could be having some problems with donors. and if you think about it, he came into the race with a lot of money, but from what i understand, alex, he's having trouble getting new money, is that right? >> yeah, and i think a lot of it is donors want a winner. look at debate.

jeb bush, he got better as the debate went on. if we're honest about it, he's not a great debater. neil: 100% better than he was prior. it's a snapshot i grant you. he did come up with an economic plan. you might be right. the guys have come up with plans, they don't soar in the polls, but where are they going, where is the crowd of money guys going? >> well, and it's true with the economic plan, jeb bush comes out, he's got a plan for 4% growth, but compare him to someone like herman cain, you used to have herman cain on the show all the time. the guy was brilliant with marketing, the 9-9-9 plan was talking about the tax reform plan. jeb bush needs to be creative. he needs to be interesting with this. the donor guys want to see somebody serious, and jeb bush has got that, can he be interesting? a fighter, and most importantly they want somebody that can beat hillary clinton. neil: hillary clinton is campaigning, where is she?

iowa? new hampshire? one of the things this rage at establishment candidates and jeb bush might be feeling that, the traditional argument is that after the flirtations with the outside the box characters they will come back to the mainstream guys, and jeb bush will be a beneficiary of that. do you buy that? >> jeb bush and advisers have to think, there's no way to think he would get the nomination if this cycle is like every other cycle and somebody like mitt romney gets it. if you're not committed to jeb bush, why would you not give a look to marco rubio or a first look to carly fiorina. they're in a better situation to maybe pick up the uncommitted donors than somebody like jeb bush who is looking to bring in more donors, not just the bush people. neil: it is early, but interesting what is going on. alex, thank you very much. >> you bet. neil: we know there are two financial candidates, if you

think about it, in this race. those for the business world, donald trump and now carly fiorina and each criticized the other and what they bring to the business table here. zane is a restaurant guy and got very, very rich and stayed very, very thin, the latter is infuriating to me. zane on which of the candidates that stand out. the rap against business guys, great at what you do, it's hard to make the transition to politics and survive and put up with the nonsense. >> yeah, yeah. neil: of those two, who could do a better job? >> i'm not sure either of them very honestly, neil. they come in a different sector of the business world, right? real estate, specifically real estate is donald trump, and carly, her history is at least spotted at best. neil: but the rap against donald trump is he went bankrupt or companies are in bankrupt, a few times. the rap against carly fiorina

she laid off thousands of workers. so the media will play off this as it did with mitt romney. >> unfortunately in the world of business, there's the world in the real world of supply and demand, ups and downs, if you maintain. that's called the c-word, calm something where you hold labor regardless what happens on the supply side, that doesn't work either, does it? >> you need someone -- guys like you know math, money in, money out. you have a good understanding of it. that's all i ask of people in washington, just understand addition and subtraction. >> the people are so far removed from realities on the ground, they have no concept. when a guy like cuomo says no way $10 minimum wage, and gets together with the vice president. neil: talking about andrew cuomo, the governor? >> yes, sorry. $15, they have no concept. what about the folks out of

work when they get on $15? the more cost something, is the less the supply. neil: but when you pick people you are a good judge of talent you pick people to run your restaurants, run divisions, i'm sure you go for outside the box characters. >> absolutely. in fact, if i have any talent, i'm not sure i do. >> i think you do. >> thank you, thank you. that the reality is that i am able to identify talent, and i know who's good at what and who's not. neil: when you hire workers, you look for ones who ran other fast-food restaurants. >> no, no. neil: that's what we do in politics, we look for politicians or governors that represented and that's where we're going. >> we look for smart people. good to great. if they're on the bus, get them to a place where they can go. it's our success, our mantra and how we operate. neil: of those two business individuals, the one -- the rap

against one is an egotistical maniac, the other is she's an overrated ceo. who do you like? >> out of the two of them it's donald, but it hurts me to say that because he hasn't been able to lay down anything other than a stream of consciousness. neil: he doesn't have to, save that for later. >> save it for later, you got to get it to save it. i'm not sure it's there and i'm not sure carly has it either. buying businesses and tacking them on just because they deliver volume, just because you get the numbers, obviously that doesn't work as the strategy either. what we need in washington is somebody who has an understanding. america is great because we're innovative, creative, we have incentives, all sorts of initiatives and people's initiatives can go. we can't legislate a middle class which is what we're saying at $30,000. i'm concerned more than they are, live with my people every single day about, our people. you can't legislate them into another class. neil: a billboard to that

effect right in times square. >> i didn't know that. neil: it's rough, you got to see it. gets a lot of reaction. >> but the reality is it's got to earn, skill or will, nobody is addressing skill or will. neil: zane, thank you very much. we're getting news out of jamie dimon out of jpmorgan chase fame criticizing the pushback on the rich and the poor and narrowing the gap and the ceo fat cats, he's worked a billion dollars, north of 20 billion dollars. jamie had an argument, if you were to rip the pay out of all ceo's, fire them all and take away all their money, you would have a huge gap between the rich and the poor. is he right? right after this. at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good.

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. neil: all right, as expected, the house has gone ahead and

approved a measure to defund planned parenthood. now it moves onto the senate. but republicans are trying to make this a far bigger cause than just a piece of legislation. they want that whole thing out of the budget, or they won't vote for a budget which would effectively shut down the government. it's not quite that simple and we might not even get to that point, but we are two weeks away from uncle sam running out of money. you know how this goes. both party leaders hope to avoid all that. we shall see. this might be the bone of contention. the gap between the rich and the poor is not so dirty secret or unknown secret that it has expanded to the obama administration. in fact, it's widening through democratic and republican administrations alike. this wealth gap, there is a solution for it, though, and don't look to jamie dimon of jpmorgan chase to buy the one that said go ahead and tax the ceos and take away all their money. jamie dimon said even if you

were to strip them of all of that dough, in other words, all the ceos' dough, you would have a wealth gap, you wouldn't do anything to change that. to jonathan hoenig whether he agrees. >> people have different salaries because people are different? income inequality, neil, isn't an issue it's not a problem, it's really a metaphysical fact of reality. some people are better tennis players, some have better bodies, some are better students, somewhere better ceos, jamie dimon is one of them, works at the biggest bank, this is a ceo worth every penny he can make in the free market. neil: the free market was north of 21 million dollars and we can argue whether he deserves that or not. but it's 221 times the average of workers there, if you include lowest paid workers across the globe. close to 1,000 times.

that's way out of whack with reality and history, something's got to be done, what do you say? >> he's worth a thousand times what's the lowest entry level workers worth, neil, we criticize the person achieving, who's produced earnings and doing well. look at folks at the bottom who haven't worked to improve his or her skill levels to warrant a higher sal army. it's not the folks that are producing that are a problem and achieving and being a success, it's those who are not. to suggest they have a right to a value they haven't produced in the free market is not true. neil: you know what happens in the middle of this debate function about it is all the programs and the ways to balance this out, if you can't lift the poor up, whack the rich down. in other words, tax them more, embarrass them more, throw more rules and regulations out to them. maybe that will forcibly change the math. the irony is with all of that, it hasn't. and we've seen a lot of it.

>> neil, the more we've done to fix income inequality like the minimum wage, the minimum wage we talked about ad infinitum has kept those at the lowest level from building the skills to move up the ladder and it happens. look at mcdonald's where a big portion of their executives started literally on the line. that happens in america, people move up the ladder by improving their skills but everyone needs to be equal because that's right is just in stark contrast with the reality. not everyone is equal and some people are better ceos and others like jamie dimon. neil: thank you, my friend. speaking of jamie dimon and things wall street, and wall street titans, not much of a titan feeling today. the dow down about 220 points. we're going to update you not only on that but what's going on in washington. we told you about the house vote to defund planned parenthood against a billion dollars a year. republicans are furious, they've been galvanized by no less than carly fiorina who put

this in stark emotional terms in the presidential debate this week. they see her as leading a charge on principle even if it means shutting down the united states government. is it worth that? after this.

. >> as regards planned parenthood, anyone who has watched this videotape, i dare hillary clinton, barack obama to watch these tapes. watch a fully formed fetus on the table, its heart beating, its legs kicking while someone says we have to keep it alive to harvest its brain. this is about the character of our nation, and if we will not stand up and force president obama to veto this bill, shame on us! [ applause ] . neil: we remember those remarks from carly fiorina at the presidential debate and changed the entire tone and sort of a maybe forced the back bone of a lot of republican critics of

planned parenthood and this effort to defund it. take it out of the budget. house measure just being approved to do that, goes to the senate, it's an uphill fight there. talk about whether this is worth shutting down the government. some in congress think it is, i wonder if arizona congressman does. is this worth shutting down the united states government? does carly have a point? >> i think carly has a point. the reality is, neil, and something the media has been derelict in pointing out, the only thing that would shut the government down in terms of the way she is characterized it is the senate filibuster. a perpetual filibuster. now i will say this. i think the case can be made that a government predicated on the notion we're all created equal and have equal protection clause in the constitution that doesn't protect the most innocent among susa government shut down by definition. so the bottom line is, the filibuster in the senate is what shuts the government down

and somehow the most esoteric watchers are not pointing that out. >> i think you're very right. there are arcane procedures here, the same thing in the senate where it can vote overwhelmingly against an iranian deal, but could not similarly vote 60 votes to end the deal, you are quite right on that. you are quite right on the byzantine process. >> makes house leaders look weak. it's not a matter of having a back bone. neil: i understand. i will ask you what diat the outset, the arcane rules different in the senate than the house, notwithstanding, do you think this is a fight worth having that republicans would use this as sort of like a point with the president. this is included in the budget you don't have a budget, you technically don't have an operating government until you take it out? >> if that would work, i would be all for it. the democrats want us to do

just that. what we should do is put in the reconciliation where we don't have to be stopped by the filibuster and force the president to veto it. this president is cementing himself as the abortion president and would be remembered for that more than anything. i believe the issue is important enough to do whatever is necessary, but unfortunately the slamming our face into the wall and failing and not doing what's necessary to protect the children or defund those that are murdering them is not a successful or viable option in my opinion. neil: congressman, thank you very much. again, this measure now goes to the senate and to the congressman's point, all sorts of different rules there. not a simple yea or nay. the great conservative thinker on that and donald trump and carly fiorina and what republicans do to identify themselves. who are they? what are they? after this.

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neil: donald trump might be a rock star republican party now but that doesn't meep he is a rock star from all republicans. like to quote a line from thomas soule. he is author. he writes, with country more than 300 million people, remarkable how obsessed media have become with just one donald trump. what is even more remarkable after six years of repeated disasters and domestically internationally and glib egomaniac in the white house, so

many potential voters are turning to another glib egomaniac to be husband successor. with writing like that he is not invited to the next white house christmas party. thomas. good to have you. >> good being here. neil: yikes, yikes! what was your reaction you got from that? >> i don't usually get much reaction. it is amazing. there are people who come up with expletives and so forth. but it is amazing how -- but, it is amazing how little criticism i get for someone who writes about some controversial issues. they think they're smart to ignore me and pretend i don't exist. neil: i don't ignore you and or your muses. you make a lot of sense. you talk about what is at stake for america and these times. even down to the push everyone should vote. you say that not necessarily a birth rate something you should study up for. what did you mean by that.

>> i mean elections are not just held for social participation. they're not held just to vent our emotions. they're held to a elect people who will hold our lives and lives of our loved ones in their hands as well as the fate of the entire nation. i think to go out if we're votes for a homecoming queen or something is madness. i advise in that column that people who really haven't had chances to study these things know much about it, the their most patriotic act would be stay heem on election day rather than vote based on whims or emotions which is really playing russian roulette with the history of the country. neil: by that measure, safe to say every msnbc viewer should just stay home. in an election is not popularity contest you wrote or award for showmanship. if you want to fulfill your duty as citizen you need to be informed voter to follow up on what you said. if you're not informed the best thing you can do on election day

is stay home. people will hear that and say, well, is that arrogant or what? is that jeffersonian or what? >> there are worse things than being jeffersonian. neil: yeah, yeah. >> no, it is not arrogant. if i don't -- there have been elections where i have stayed home, either because i didn't think i was up on the issues or more often, because i didn't think that -- neil: which ones? when did you stay home? >> 1972, when it was nixon versus mcgovern. neil: why? >> i thought, oh, my gosh, question what kind of disaster you want. neil: okay. now in this race, do you think about it in the type of personalities and we made like homecoming king affair, that's really been going on since john f. kennedy, right? and that is since 1960, maybe longer for all i know. but what is it we do wrong? when you see these debates and see all the candidates up on a

stage they have to give a quick rejoinder, a quick zinger, that is what we replay. that is what we focus on. what is the problem? >> well the problem is sound bites usually aren't very sound. that they're very few series issues that can be dealt with in one minute. and especially when they're simply sprung on you. if they had given them the questions two hours before they went on the air, maybe they would be able to condense it down something said in a minute or two. but when you simply spring a question on you, with one minute to answer, what kind of answer can you expect? neil: that is very good. i always thinking when i read you, how would lincoln have survived debate format, all right, abe, in 30 seconds tell us how you would solve the rift with the south. buzzer rings in 30 seconds. that's it. it is true. what do we do about that? we live in a world of short attention spans and gadgets, all that other stuff?

how do we reverse that, average political response and ad has gotten shorter and shorter and shorter? >> that may be why our policies have gotten worse and worse. there are a lot of things you could do. if you were serious you would have each one of the serious candidates interviews with an hour by someone like bret baier or, who is the man on c-span? i can't think of his name offhand. neil: i don't want -- you didn't include me in that. i'm quite annoyed but i see what you mean. give them time, charlie rose thing where they give a long time. >> that's right. neil: the argument against that no one would be interested. >> well, if those who weren't interested didn't vote then i you get much better outcome of elections. neil: oh, that is interesting. other crop of candidates you see now, former advisor to ronald reagan saying here, none of them look like reagan to him. he dismissed this idea, first of

all they have broken the 11th commandment to speak ill of other republicans. more they didn't offer optimistic view of the country. that is the core of their problem. what do you think? >> i think the core of the problem, reagan although he was quite good with his words, reagan spent years and years studying all these issues, writing about them. talking about them on the air. so by the time he got on television to run for presidency he really knew what these issues were, how they came out and he didn't have to just carry on, it wasn't, he was quick but he was not glib. neil: you know, do you think that candidates these days knowing reality, almost have to change in the campaign and then change if they get to office? like, they just say whatever they can to get elected. bill clinton in 1992, big middle class tax cut, gets elected. i will shelf that tax cut. it happens. it is human nature. and that may be single terms,

would be the answer. if they had only one term, they could focus on that, make it six years instead of four years. what do you think? >> oh, i have been advocate for longest time. my only objection for people with term limits is the s at the end of the word limit. should be one term f they have three terms, the first two will be spent trying to get reelected. wait for the third term. and in third term they may be trying to set a record to go on some other position. so one term people would be, i think ideal. neil: but you know, we don't reward candidate who has a prescription. if you think about it, thomas, anyone offering anything approaching a plan, jeb bush with a tax plan and economic growth plan to get us to 4% annual growth or either chris kissty on the fringes of trying to look at reforming social security they're not exactly rocketing in the polls

where someone like trump with a great deal of bluster and not a whole lot of detail is doing just fine. >> oh, yeah. i mean it is, i have a plan. i have seen those kind of people get elected. i think, great, you have a plan. tell us what it is. well after i'm elected i will tell you. that, people shouldn't take anyone like that seriously. neil: people have gone to the white house doing just that. richard nixon got reelected about peace in vietnam, right? so i guess what i'm saying, that they never are what they appear to be. so how do we know who is the good guy and who's the bad guy? >> some are, some aren't. i think reagan, first of all had a track record. and he did follow through on most of the things that he talked about. neil: that's interesting. >> but i don't think, i don't we can afford to wait for another ronald reagan. it could be a few generations from now before that happens. neil: thomas, none of the ones you see out there now are

impressing you? >> owe, there are some are promising. i would like to know more about them, among them, scott walker and especially bobby jindal. he really talks sensibly like an adult. he is one of the reasons he is not in the top tier. neil: in other words, some of the prescriptions aren't exactly received well. if this is the way this country is going, and we don't talk to the other side, ronald reagan was very good talking to tip all his way or the highway those days are gone and i wonder if we ever get them back and that is part of the problem as well. >> it is but also there is the republicans have this notion if they want to attract various groups they're not doing well with, they need to pander to those specific groups. they have forgotten completely there were group of people reagan democrats, people normally vote for democrats but voted for ronald reagan and he didn't get them pretending he was democrat. he got them showing how his agenda would be beneficial to

them and attracting them to him, rather than going to them and trying to meet them where they are. and just pandering to what they already believed. neil: yeah. i always think it is first day working with those southern bo weevil democrats, making a port of a broad collision that would cut taxes, that was then, this is now. argument we're too divided and divisive and media plays into that. do you agree with that? >> yes. but it's also true if you make some serious attempt to present your principles, if you have any, to black, hispanic, other groups, asian-americans, i think would be a particularly group should be easy for the republicans to appeal to. but they don't. and if you listen to only to the washington consultants, you can keep losing a lot of elections even when the odds are in your favor. neil: you know, we have stocks down a lot today. thomas. this obsession with the markets but not nearly as many

individuals participating in the markets as they used to. do you think that candidates and those in power focus too much on these markets? in other words obsess too much? >> with what markets are you talking about? neil: stock markets. >> i actually a awful lot of people participating in the stock market whether they realize it or not because their pensions are often invested in the stock market. as mine is. neil: but, feeling that pain. to your detriment, to their detriment. >> depends what time. you know, market going down a lot this year. on the other hand if you compare where it was when i first started having my pension there, it is doubled. neil: all right. but i guess what i'm talking about when i look at this big selloff today, the federal reserve did what it did, we're told to try to keep satisfying th and it obviously boomeranged to

my. i try not to think about the federal reserve. oh, my gosh. when you think what the federal reserve was set up to today, to reduce economic downturns, prevent inflation, keep banks from failing. all of those things reached record high after the federal reserve was created. they were never as bad before the federal reserve was created. i think if anyone wanted to seriously justify the existence of the federal reserve, with facts and logic, they would have a very big problem ahead of them. neil: thomas sew well. sowell. adding to federal reserve to long list of enemies. former federal reserve governor on that, after this. good seeing you mr. sowell, have a good weekend. >> bye-bye. neil: all right, stick around. (vo) me? i don't just wait for a moment. i watch for the perfect moment. the one nobody else sees. and when i find it- i go for it.

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>> i'm connell mcshane back here with your fox business brief on "cavuto: coast to coast." well, not a great friday for stocks at all. we're giving back any gains we had, turning negative for the week with nearly 250-point decline on the dow. looks like a bit of a fed hangover with this money coming out stocks and maybe warnings how bad things are in china. money going into bonds today as we take a look at some government treasurys. 10-year with yield of 2.14%. likes of talk of from pimco with the fed holding off till next

year. treasury yields falling under 3% on 10-year note. might see biggest drop for oil price in more than a week. down 1.63, which is 3 1/2%. quick look at energy stocks while we break talking about oil because those are some. biggest losers in the s&p 500. neil coming right back.

neil: so the great conservative thinker is not a fan of, well, the federal reserve. tom sowell say we don't need it. it has gone way beyond what we're needing it. randy what do you think what sowell is saying the fed went way beyond what they were supposed to do and making a real scrub of things? >> well, certainly the fed helped us to avoid a repeat of the grea i think the fed made a lot of mistakes in the 1930s. milton friedman, who was much more of a fan of the central bank had said really the depression became the great depression because the fed didn't act, didn't do what it was supposed to do. actually those things that that, you were talking about before trying to prevent thousands of banks from failing which they did in the 1930s. trying to prevent inflation and unemployment rate going to 20%

like they did in the 1930s. neil: they got it wrong like everyone else. >> for sure. neil: in 1937 you could argue premature hike went overboard and brought us into severe recession. >> for sure. neil: that we can't kill off federal reserve and left to blatant politicians left to handle it. i have know. are you surprised all the reaction in the markets post the meeting of the federal reserve? not only tumble in stocks but all the buying we've seen in the treasury market if aping a slowdown? >> certainly by the fed not moving it raise the questions how much confidence the fed has in the economy going forward. and so, i the key is, how the fed over the next few weeks will be talking about the u.s. economy. where they see the challenges, whether it is really just about the inflation issue, and which is the really key thing that they highlighted.

neil: do you think they're nervous, randall? you know having been there people read into non-move as panic. wait a minute, if they're not moving when we how the they might move, they must see something we don't so we better get out of dodge? >> what is incredible, so much focus on this one quarter of a percentage point whether it comes in september or december. if the whole economy turns on that we're in such a fragile situation nothing the fed does could help. neil: not just a quarter-point move, but what it represents. you and your colleagues in the past, rarely been one and done. trend would be ratcheting up rates maybe not dramatically but slowly, inexorably. was that a just concern? >> that is really the key issue is sort of the path going forward. is it going to be a steep path? is it going to be a shallow path and what's going to be driving that? i think that's right but seems so many people are focused on 25 basis points, one quarter of a

percentage point one or three months from now, that seemed a little overboard at least from my point of view. neil: well-put. randall kroszner. don't pay attention to all the naysayers like thomas sowell. you're not that bad of a guy. >> you're very kind. neil: thank you very much. we're getting word now that the u.s. is going to be speaking to russia, specifically vladmir putin i don't know who vladmir putin will be speaking with about this syria situation. mike baker, on that, after this. usaa makes me feel like i'm a car

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countries putting up barbed-wire, anything they can do to stop the throngs secretary of state john kerry says discussions will begin and they will start military talks with russia. we don't know who the principals will be or when they start. russian troops are being apparently sent to syria. mike baker on that. what we do right now. that is fairly provocative especially in middle of this mike. what happens? it is. important to talk about middle east anything related to foreign policy, nothing happens in a bubble. everything is connected. if you consider that, consider about eight short weeks ago general soleimani, iranian head of revolutionary guard traveled to moscow. beyond the fact he is sanction and wasn't supposed to be traveling an moscow said he wasn't here. no, he was. general soleimani's key responsibilities are military support of assad in syria. you fast forward just a short

few weeks and magically, russia is deploying troops and military hardware in a fairly significant manner to a airbase in the western side of syria where assad basically has his control. he doesn't control much outside the western portion of syria. things don't happen coincidentally. neil: what are we doing? we still have talks and sanctions on russians since the ukraine moves and other moves. i could imagine he is just bartering for those sanctions, right? >> well, we broke off military to military conversation after the crimea annexation back in 2014. neil: right. >> ash carter, secretary carter, defense secretary has been in office for about seven months. now he just had over the course of the past 24 hours his very first conversation since taking office in seven months with the defense minister for russia. think about that. you're the defense second tearing of united states.

that job you have nister of defense for russia. re they discussed where the u.s. and russian interests overlap and diverge. neil: so they start. >> right. thanks to the news corp research department i've create ad vin diagram. this shows where u.s. and russian interests overlap. i thought i would do that to benefit. neil: that is helpful. saves us a great deal of money. michael, thank you very much. >> thank you. neil:down 284 on the dow. thank you very much. we'll have more after this. it's a fact. kind of like shopping hungry equals overshopping. hi my name is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here we're here and we've got your back. legalzoom. legal help is here.

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stocks plunging to the lows of the session. they are trying to digest the fed comments. i'm trish regan, welcome to "the intelligence report." their reason for keeping rates at zero is a global slowdown china. if yellen that worried about china, that can't be good for any of us right now. joining us, steven guilfoyle jim bianco. are you surprised by this at all? does this make sense in your view, people are realizing, boy, things are really lousy out there? >> no. this makes a little bit of sense to me. let's use the dow.