tv Cavuto Coast to Coast FOX Business December 7, 2016 12:00pm-2:01pm EST
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nonstop news. wait, what happens in the 12:00 hour center in i don't know. but neil cavuto has that hour. >> i have to get into this. the ford 1-50 you said you would buy? you are kinds of a cheap person. do you know it costs $60,000. stuart: who said i was getting the souped up 3408d. $. take out the air-conditioning. keep going. you are not going to be -- you are just not.
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the media industry and cnn as part of the knicks at the at&t hearing. you remember the apple iphones. china is telegraphing, when might be open to making more in the united states. michael, let me begin with you. on the deals that are rumored and how they would fare and what attention they would get under a president trump. >> i think the deals will get a lot of attention from president trump. what that means is he will be looking at the interests of everyday americans. if that means manufacturing returning to the united states or foreign investment in the united states, he will purchase
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sue it aggressively. with this merger and his efforts to protect consumers from the excessive con glam' racial of power in the hands of corporations like at&t and time-warner. to make sure the information flows appropriately to consumers as well as making sure consumers have a right to negotiate and get something they want in the market at a reasonable price. i expect we'll see hands-on economic leadership from the incoming president. neil: donald trump is on the side of some of the democrats who have been critical of this deal or let's say suspicious of it. >> deals like this he said destroy democracy. he said heould stand in the way of it and not let it happen. >> he can't tell the justice department no, we don't think it's a good idea. they have to apparently co
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you have to apparently come to that illusion themselves. >> i actually think the is precedent in >> he's been super successful. he's not even in office yet and is gotten carrier jobs reinstated. 50,000 jobs from south bank. another 50 possibly from fox con. this is big-time stuff. he seems to have a way to power. this is the beginning of his term, the beginning of this administration any spending it as fast as he can because he knows down the road all the power dissipates and you can't get anything done. >> you've got to trike fast. >> i think the choice of attorney general as well as as well as attorney and the doj will take on antitrust matters to make a difference. there is precedent for the president to be a little make a difference with the initial split up during the reagan
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administration pursuing litigation on hold. neil: that's a very good point. the other issue here is whether donald trump will be low regulation stands, did i cut taxes, all of that? mr. shippin jobs overseas, a little too heavy-handed bear. which donald trump wins out? >> here's the problem. neither one wins out. he's neither pro-business or antibusiness. as you know is a free-market sky. i'm afraid we are seeing with president-elect trump is that he does whatever he thinks plays to the crowd. this notion that the stuff that's gone on this week. i'll invest $50 billion.
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let's check in in a year or two. talk is incredibly cheap and not we get his top. in my opinion, none of it is based on solid fundamental free economics. what do i think people want to hear today? neil: there wasn't a tangible result with these company and the union is saying seven and 30 jobs are up to 1100 jobs. bs that would've gone, all of them to mexico. now you can argue about future jobs and whether they are in peril there. but he did extract that appeared somewhat say that it's a slippery slope, be careful what you wish for. what is your read on how he's extracting a confession? >> how he's extracting this is no different to what they do local government officials have been doing for 20 or 30 years and that is promising tax advantages. this has gone on forever. to act like this is never
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happenedbefore, that is just silly. neil: i understand. the difference is that is going from the tippy top. the president of the united states encouraging those to many companies today. my immediate reaction is what is wrong with that. >> trumpet setting the tone for his administration. there's nothing wrong with that if we look at the greatest stories in the greatest presidencies in the united states. we had link in an teddy roosevelt and reagan is the power of the federal government to look after the individuals, the consumers do not have made a big difference in their legacies. plus a fair economic.and it 3% of the vote. we see bernie sanders who got the majority is where it mattered in actual election because of their economic messages that entailed the sort
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of active role of the federal government in protecting the individual. >> you mention something about how trump might be playing to the crowd. it is very paramount here globally. so there is a limit to what he can do. but what if that pitch in the future is grayed out these job cuts, weighed out sending jobs offshore has been going to cut taxes. just give me time. would she be someone who is comfortable with that kind of a page? >> absolutely. the idea that he's gone beyond persuasion when it's not even an implied threat. he's effectively threatened companies will make any decision he thinks it fast.
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>> how would you apply with a $4 billion for air force one. obviously you can read those any which way you want. it's fair to say the cost estimate for the presidential planes in this case has gone up exponentially. i don't know if it's 4 billion, but to cite them and embarrass them and publicly humiliate them. but he think of that approach? >> you know what, it's not like he threatened them. he gets to do that. he is the proprietor of the shot. train to his already agreed to. >> no. look, my problem with the obama administration as it was operating outside the law. the rule of law is where we should be in this country and to the extent you can persuade around it that you can't violate. i think that is a horrible thing for every business guy like me
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who wants a stable framework to plan and invest in. >> just to fill out the idea, if it may become difficult for business to figure out what's going on. and that kind of environment, they might slow growth instead of rent it out. you are playing to a very specific appetite here. that is s wrried about what n happen to the economy ultimately. am i a fan of these new jobs? it's still a question. tree into michael, final word. >> in terms of adhering to the law, setting the tone and expect nations and make it a priority that we focus on consumers, i think it should continue. neil: he's only president-elect. whether you like it, he's doing all this as a guide not even this one yet. thank you all very, very much.
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we are keeping track of what's going on with time warner and at&t. it is getting nasty here. donald trump is not a fan of the $85 billion merger. there are other democrats. so much her public can to concentration of ownership. you see this play out again for democrats or more lines into the populace thinking of donald trump and some of the fellow republicans much much more after this.
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this distract their cycle of intervention and chaos must finally come to an end. >> donald trump last night talking about america first tennis player not only to protect jobs but when it comes to our military to beef it up substantially. though when they hold us all the same week that when it comes to military spending about $125 billion is how much redundancy and wastes were built into the budget and the defense department we are told reluctant to reveal that, even though it was the defense department that confirms that. the former republican senator jim demand doesn't like anyways, even if it's in defense. very good to see you, sir. i'm sure you want a strong defense. everyone does it low and behold we come to discover the extra money we want to commit already
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through quite a bit of that. >> various ways throughout the government. we've done a number of studies that heritage. we know it is fair. it's hard to get congress to go and cut it out, so we need every agency to be challenged to root out this race, particularly at a time when it a lot more money for a military which has been in various decline during the obama administration to make sure every penny we spent for defense actually makes our country stronger. neil: apparently to the tune of 125 billion about a quarter of it is wasted. it always have been that any republican military spending likes to commit more military spending. democrats, social programs, infrastructure but we spend over $100 billion a year on infrastructu. i've always wondered, let's first discover what happens to that money before we add to the pile of money. the republicans risk the same
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game when it comes to their pet products like military spending. >> will come at the military is not a pet project of the republican party. it's part of the constitutional responsibilities of the federal government. >> it's also $600 billion a year. >> it is, but we play a leadership role throughout the world and frankly we can save a lot of money and a lot of lives if we are strong and ready to protect their interests here at home and around the world. that doesn't excuse ways. we cannot continue to ask for more money for military or trsportation or anything without serious oversight from congress to look at the ways. we produce waste looks here and look at all of the waste and spending and government. year after year, we do very little or nothing about it. i hope the trump administration
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and i believe he will for the people he's putting around him will get in and look at a lot of this waiflike is done with air force one. if it sounds like a ridiculous figure spending, it probably is. >> what are your thoughts on just the debt and deficit of almost everything we are told. we are not concentrating on the deficit of the first year or two. it's giving the economy boost and not be more tax cuts and so you have a dip in revenues as a result before you have a spirit as we did with the reagan years. what do you think of that? >> well, the debt is a bigrag on the economy. if we continue to ignore it, it will continue to drag our economy down like throwing a web link it on it. we can do the things donald trump has talked about such as improve our infrastructure without a lot of newfederal spending that gets back to the state and gets wasted.
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neil: that would be in your group he wouldn't commit to that right away? >> devolving a lot of the power for transportation back to the states, where they collect gas taxes instead of sending all those gas taxes or most of them to washington and how about these rules and regulations attached to them, but then keep most of their gas taxes and spend it the way they prioritize them. there's a lot of waste every time money takes a loop through washington and we can keep donald trump's promises of infrastructure, but we don't need to spend a trillion dollars and threw it down a rat hole at president obama did. very little money ended up on roads and bridges. neil: good point. jim demand, have a merry christmas. he well. >> thank you camille. still talking to at&t at time warner. these are two of the biggest media related companies on the planet right now.
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>> this is a classic vertical merger and eliminates no competitor from any market. in fact, it increases competition particularly against the cable companies. >> great content is not enough. you need to deliver consumer experiences and that is what joining with at&t will allow us to do. >> so the respective heads of at&t at time warner seiner merger make sense of the consumer as well as an $85 billion transaction that a lot of them on the committee doing a lot of the questioning are not quite convinced of,
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including a guide not there today but did raise a lot of the campaign staff. donald trump. you remember this? >> as an example of the power structure, at&t is buying time warner and the cnn a deal we will not approve in my administration because it is too much concentration of power in the hands of too few. neil: former fcc commissioner robert gallo. is he too much concentration of power in the hands of just a few? >> probably not. here's the deal as their clip to show that the vertical merger. you are not buying a competitor. there are at least two giant in the cable space and have vertical integration. comcast at this purchase is a as universal. i looked heavily into that. i voted to approve it. so as well as charter with the facilities and liberty and john
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malone, so we've seen a growing trend, demand by consumers between connick committee and content. if you are going to have a nationwide counterbalance to large cable companies that are vertically iegrated, this makes a lot of sense. this is more procompetition than anti-competition. the big getting bigger as the president-elect said earlier in the campaign is really not a legal basis to go to court to upper vertical deal. that's not going to work in court. neil: what if they were already big. it has a history of scooping up everything along its path and that this is sort of like the coup de grace here and you stop them because they're becoming a monster. you say what? >> there's a lot of competition with the eyeball and ad dollars are going to wireless and content and apps that people look at on wireless devices. that's what every can do my
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trend tells us. a lot of cord cutting or record shaving. and so, that is where the competition is. you have for nationwide carriers in the wireless space with others and the average american consumer has a choice of five wireless characters. when you see the integration between mobility and content, and it is something good for consumers. antitrust and consumer protection laws in place that will protect consumers if there should be anticompetitive conduct. at the heart of this is the question of whether at&t would discriminate its own content. laws exist that would prevent that are punished. secondly that would be a bad business decision. people could fire at&t because they are not getting espn or something else or fox business on the platform. neil: they could get it but they might put us on channel 1 million. >> that's true. consumers can vote with their feet and go elsewhere.
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you can fire a bad market actor. neil: let me ask you about this. might be a simplistic question that you're always very patient with such questions. >> i've a simplistic guy. neil: hardly. the notion that there's a difference with the new administration whether it's just so are the sec acting independently, that there is a different tone. supposedly, you know, much more free wielding under republicans had much more under democrats. is there any truth to that? >> sure, there's different flavors of the different things emphasized in each administration. but if most of public administrations are law administrations are blocked in order up a legal precedent and in this case had been in the business over 26 years, i can't think when a vertical deal has been stretched down. doj's only remedy is to block the deal and then all of a sudden you've got legal precedent. you've got the jurisprudence of
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antitrust over 100 years of that. neil: what if the president himself, in this case before you with the president-elect repeatedly saying i think this is a lousy deal or i don't like the tone of this one of the great out of this one. he's just speaking out loud, using the bully pulpit. i don't know if he can go to justice or bang his hands on a table and walk inton fcc meeting. what is the power persuasion from someone who can reverse the deal on his own? >> sure. he can go to justice as part of the executive branch of which he is the head. >> as it is supposed to sera himself? >> you would hope and would hope they let their careers or lawyers or economists and engineers in all the rest of the experts do their job. fcc is an independent agency to have the same independence as the judiciary. let's hope that gets restored in this upcoming. but the doj, he still has to
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block it in court but then it becomes up to the judge and the judge would have a lot of suppression and go through the appellate process. his personal desire can't overturn 100 years of precedent about vertical deals. also, there may be at the heart of this is despite her cnn. >> you read my mind i'm not one because that's what i was inking is the galvanizing factor. so changing hands, i'm trying to figure out the logic of keep it in the same ownership hands. is changing hands make it worse? that's the crux of the matter and we will see what happens with all of that. neil: i've been trained to check if this merger went through, we would fox business fall and they assure me you'll be just the 1 million. very interesting stuff.
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neil: we might find this populist pitch to go after china are these donald trump supporters. something refreshing and different. the chinese not quite so much. after this. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! (sigh) i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance
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what he said it shocking that some people the drug industry where he sang right now he didn't specify the group in an aggregate here. he just said it strikes them that many consumers would possibly disagree with that. that does have tumbling on fears he would try to rein in those prices, controlled the prices in a free market they generally don't flip over that sort of stuff. the president-elect also making news to formerly pick retired marine general john kelley to be his next homeland secretary. again, that is just a growing belief he's going to get that commander appeared of course very instrumental say the administration was slow responding to the threat of isis. he would handle that in the homeland security and it does complete a picture of a cabinet increasingly populated by former military. donald trump also continued in
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china, but maybe to ease some fears in beijing looking at terry brands that, governor of iowa to be his ambassador. the chinese take a great deal. of course he has a great deal of good and positive relations with chinese businesses that have set up in iowa and he himself is friendly with the. i guess more of its carrot and stick kind of message to the chinese in particular. what do you make of that? >> that's a really good way to describe it. the governor does have a relationship with chine officials, particularly the president and of course iowa is portant to china in terms of trade. neil:.woodshop me. i would not have immediately thought of it until i started reading it. they do a lot of businesses. the governor has god to multiple trips to china to boost business
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and quite successfully. >> exactly. that was one of the more surprising things as i was researching this and tried to determine terry bransta he has traveled to china many times. agriculture buried for in terms of trade. also what's important about the governor as hehas been one of the earliest defenders of donald trump campaigned actively for him and his date at a time republicans were withdrawing and tried to run away from him. of course his son ran donald trump's campaign in the state of iowa and of course i'll trump on iowa after president obama won it twice. >> they say sometimes you need a friendly guide to carry and nonfamily message. of course the message we are getting towards the chinese is there is a new sheriff in town and it won't be the way it then. they don't welcome that and the chinese media i've seen which they can troll. they are not big fans of what
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they've heard. we are told the chinese people mop up anything they can get on donald trump that they are fascinated by him, with him, whatever it is. that is kind of weird. would you make make of all of that? >> they are taking this wait and see approach. the timeline search may raise lots of alarm bells. there you heard from officials than what we then see whether the actual policy is going to be. that is traditionally how foreign governments interact with president elect. what is important about the brand that pic though i think suggests that donald trump does wonders and the importance of this relationship with china, even as he campaigns for a year and a half really bashing china, particularly as it comes. >> is very pragmatic, stuff, but you also know when youe pretty good at his arena as well that there is a message they are that if you can speak of, acts have
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an almost make people think you're a little crazy, that it will have the desired effect you never have to implement an go so far as in this case going to war, even though you accepted a phone call from the leader of taiwan, that there is a map database. you agree you agree with that? >> right. donald trump campaigned in that way about his negotiating tactics. he tapped his supporters have not is what they point to when it comes to that. but i do think the branstad pact not only shows he understands the relationship that is picked someone who understands where donald trump is coming from. terry branstad, the governor certainly is on the same page when it comes to those negotiations and skills and brings to the table from the trade perspective so it's an interesting pick, but the more you think aout it, it makes a
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lot of sse. neil: rl quickly on that phone call, was that such a big deal? obviously that night is bad in the planning r a while. isn't that big of a deal to accept a congratulatory call? >> debate question surrounding that and raising alarm bells was whether it was intentional or just kind of a diplomatic hiccup so to speak. the important thing to remember his donald trump campaigned on this thing. reshuffling alliance is, kind of not doing business as usual. that move, however planned was really indicative of that strategy. i don't agree should be necessarily surprised by these moves from the president-elect. what people were unarmed about is how activities and throughout this transition process. not only run the country, but also talking about policy. >> caitlyn, great catching up.
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>> you've heard about this decoder pipeline. it's not going away even though they are hanging on here because they want to make sure it not going away. all of this is over a little work about a mile up the pipelines underground, underwater. and now, increasingly the battle is being fought way, way deeper than we thought.
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>> and nicole petallides with your fox business brief. another record and wall street. and wall street. the dow jones industrial average up half of 1%. we see records across the board with the exception of the not yet. a perilous right there with 19,344. good for them for a one k. ira. of three days in a row. the 21st record close of 2015. along with the trump bob. take a look at the s&p 500. the clothes as well. you can see that is see that is up seven points right now. the s&p 500 taking a look at the best performers in factors since donald tram's election victory. they scored 16% higher industrials and energy. oil by the way outfit he had change.
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it doesn't take a percentage on to get to 20,000. 3%, we could do that in a few weeks. we could close out the year. close out today. who knows. we've gotten that close. meanwhile, president effect pushing and energy agenda no matter who is protesting it. take a listen here >> we will cancel the job killing restrictions on the production of american energy and pursue american energy independence. we'll be able to do it. we will also conserve and protect our beautiful natural resources for the next generation, and remain protect team lands in anglers and hunters and all of those who enjoy the out doors like my son. neil: all right. that was the message is valid maybe those protesting in north dakota outside the dakota pipeline that they can relax even though they are sending a court challenge to get it back
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on. progressive radio host carla nixon. you're not keen on getting that going again. why not? >> a couple things. one of the issues is not just the fact that we have over 300 major pipelines and incidents a year, but additionally environmental justice is discussed and sometimes causes division among left-leaning environmentalists. the issue that we have people here who have traditionally faced some level of oppression are the last for 500 years and we should take extra consideration about their concerns because of what they've been through. >> when people go without seeing the bigger picture and a lot of that coming in the last mile or so of the pipeline, dates you would be affect in by a run-up in prices as a result. >> that's right. i believe we need to pursue energy abundance not just for
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the benefit of some, but the benefit of all. the bottom line with this pipeline, you can appreciate a lot of these protesters have their hearts in the right place. the fact of the matter is of a transport energy by pipeline, that is a much safer and more environmentally friendly way to transport oil than by railroad or tanker trucks. >> i thought all of this was settled. you're talking about native americans who said it wasn't. i don't know what is true and who is zooming who i miss. do you think of the bigger picture including native americans who can enjoy the benefit of lower energy prices that half a million dollars a barrel a day. would not be in their favor? >> certainly not. neil: why certainly not because it would? >> a couple things number one and that is actually by the numbers, transporting by railway is in fact safer. they have less amount.
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the fact of the matter is prices are not through the roof now. prices are fairly reasonable right now. >> i hope you're right. they have been taking enough, so my immediate concern and i agree, be very careful, and dog tread on sacred soil here, i'm but as long as all those precautions and safeties are not, i think all types of energy, not just this. what do you think? >> absolutely. sacred lands is not what is at issue. the mile oso of pipeline is owned by the federal government, not by any native american tribe. north dakota access pipeline importantly, the energy transported, the company putting this pipeline into place has worked with other native american tribes. they've made 140 changes to the original brow. he worked to come up with this
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land. then to face the trouble with the process of the federal government right now represent over politicizing of the issue. >> do you worry that the late donald trump really comes into office and says a thing as back on. regardless of your views on the subject, this could get violent. >> i'm not concerned this could give violent anymore than any other issue. the native americans and the people protesting this have been as calm as possible and unfortunately even in the face of violence. i'm not concerned with violence. i am concerned even though the pipeline may be fine right now, 10, 15 years you may have a rusty pipeline and sooner or later the odds say they will have a problem and they have very valid concerns. neil: i want to thank you both. sometimes you will see the stranger spoke show up at the trump tower. i thought it was odd when al
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gore passed through the lobby. but when trina levin did, wow. -- rahm emanuel did, wow. which allergy? eees. bees? eese. trees? eese. xerox helps hospitals use electronic health records so doctors provide more personalized care. cheese? cheese! xerox healthcare services... ...soon to be conduent. that's it. how was your commute?
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neil: blow, just like casting a movie. looks who shows up in the trump tower lobby. rahm emanuel, chief of staff for barack obama, one of those standing by because chicago is included as a sanctuary city. blake burman with the details that might emerge to that and other meetings at trump tower. reporter: hi there, neil. one of the unique things about this transition at least so far at trump tower is the intermittent parade of democrats that are blocked into the building here and held meetings with the president-elect and i continued on this day. rahm emanuel spoke to reporters
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briefly afterwards but didn't say much. his office in chicagying this was a meeting relating to issues in his city of chicago. as you know he was at one time the cheapest that for president obama. speaking of democrats, another democrat expected to come at the end of the week and that even the senator from west virginia. joe mentioned. his name has been floated around potentially for energy secretary. also potentially for secretariata. nonetheless, the democratic senator will be here at trump tower on friday. there is one other potential appointment that we are keeping our eye on at this hour and that is for the secretary, the department of homeland security. sources are telling fox at the president-elect has settled on john kelley, a retired four-star general, length the military
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career. at one point he was in charge of southern command which putting control in the united states atave operations in south america, central america, caribbean and so forth. if he is elevated to the head of dhs, that would have him over cd big-ticket immigration items that mr. trump has talked about as well. back to you. neil: when you look at a lot of these people that come in and out, i get the impression some wish it wasn't so public. others relish it. a lot of questions about the al gore meeting. first they spoke to ivanka. >> they said it was supposed to be with said free trump on climate issues and all of a sudden there is this big link the project is meeting as al gore put up with them president-elect himself. they say climate issues, but kellyanne conway tried to make
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the case that there is for a fight error as she put up she put up with those who are she put her but those were president and vice president and made it seem as if part of this was just the president-elect wanted to sit down with somebody who will soon be on his level least when it comes to sitting in making decisions in the oval office. neil: blake burman, thank you area much. we are now coming on the exact moment five years ago today that pearl harbor was attacked. it was about 6:30 in the morning hawaii time. so about now when the first wave of japanese planes had pearl harbor, taking with them that day more than 2300 largely young lives. the scene and wahoo as this nation remembers the attack that got us into a world war 75 years ago today.
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neil: you are looking right at pearl harbor, hawaii, commemorating the exact moment 75 years ago today. perfect morning before the japanese launched what would be an unforgettable attack on that days. 350 imperial planes in two ways good sensei at third wave at the last check at. launched from six aircraft carriers on our men and women not that base. they took our virtually our entire pacific fleet and with a 2300 largely young lives aboard arizona with remains of one of them in tune. the average age was 19. the former nsa dirt general keith alexander on the dividends
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of that day, on this day and the threat that is still real. just different threats, general. if you'll indulge me sir, at the time he talked about quick sacrifices. many americans were immediately willing and happy to make including higher taxes, including buying up in a war bonds they could to pay for the effort regardless of party, regardless of economic status. very different time. when you think of that? >> i do think it was a different time. what you put on the table is hopefully for cybersecurity and terrorism. we don't need a pearl harbor event to bring our nation together both government and industry like we had. it is incredible what you bring out when you think about how our nation has advanced since world war ii, that latest generation that brought us here today. think about what they did. it's amazing. how do we learn from those
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lessons like cybersecurity and terrorism is what we need to take on. >> i was thinking about and we didn't have the nsa and those days, but we could've used obviously better intelligence probably is an understatement. we have pretty good intelligence now on cyberthreats worldwide. re: seeing what is happening in the act of terrorists on the move worldwide. but we don't have a focus enemy as we did at the time responding to japanese comers on into the war in europe in joining the fight against the german, does that hurt us and that we can't focus on one entity? >> well, i think it does. it makes it more difficult for people to commit resources in times install than this. in congress, industry and government. this we need to overcome that for just the reasons you can point out.
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you know, the internet, many have said has gone from the internet of things to a capability where all our intellectual property are well. our government, everything that we have now is stored on the internet. we depend on it or power, for finance. if that's interrupted it would have a huge impact because we need to look at this differently. we change with just later in some of these things. think about how quickly our world is changing and how vulnerable we are in this space. >> i always wonder, too, how we would respond if there was a nationwide cyberattack. i doubt we would respond the same way we did after pearl harbor. i don't know if that is good or bad thing, but we marshal forces for causes that seem worth it
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and back then it was very much worth it. all stripes agree. here, i can actually see this playing out on cable news shows and panels are doing, is this worth putting our anti-and responding as we did in past crazies? i think it would be every bit as important and maybe twice a scary, but i don't know if you get the same amount of priority. what do you think? >> well, actually it depends how the attack occurs against which sector were sectors that his son is how we would react. one of the things that is correct, we want our president and secretary of defense to reserve the option to figure out how to respond to such an attack. cyber command in the other combatant commanders would give the secretary of defense and the president option and send all the way from diplomatic to these range of military options. i don't think that's bad to have that is the approach we take.
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what we do need to do is we have to get together industry and government and figure out if this occurs, what can and should we be doing together to prevent it? i think a lot of this is preventable and we should get out in front of that. we shoul't get to a point where we have secretary and that is that a pearl harbor in cyberspace. we shouldn't have that. neil: i'm sorry, while i've got you here, your thought on donald trump taking the phone call from the leader of taiwan. at the chinese upset. he's already looking to name terry brands that come in the iowa governor to be our ambassador to china. so a lot of ruffled feathers there. do you worry that our relations with china could get aee as if they are not already in the trump administration? >> actually, no.
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what the president-elect has the opportunity to do is look at this in a new way from a business perspective. and i think there are actually opportunities we have with china if you look at how we will conduct business to solve problems like south china's need and get to a responsible partnership that is not so military focus, but more commercial. can we do that, should we do that and does that help us? the answer is actually our country partnering with china, we both benefit. now the question and president-elect trump is far better than this -- at this than i am at the conditions on how we do that. i think we have an opportunity. i'm not sure where this will go, but the opportunity is send him back this president-elect uniquely brings you up to us and i found and that hopefully will be elaborate or the good of our country and others.
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neil: we hope. i hope you have yourself a merry christmas. thank you for your service to the country as well. >> thank you, neil. from our general to charlie gasparino. that's a bit of a say. it's gaddafi appeared we were touching on the 75th anniversary of pearl harbor. i was reading the addendum in "the wall street journal" today the december 8th edition was sort of outlining what the nation was going through then. before i get into the meat and potato financial issues with you, would we make the kind of sacrifices our parents, grandparents made back then? >> you know, the youth of this country has over the last 10 years of area schools force. we have a lot of fun with the millennial on our show. we often forget those are the people who fought in iraq and afghanistan. they captured osama bin laden and killed them.
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so there are people in this country willing to sacrifice. my dad was a marine during korea. he was going over to korea when the war ended and he would always say the country is different now. people don't want to sacrifice. >> people come through in the country comes together. listen, there is a cultural battle over this right now between what president obama represented, which was a different type of america. an america that didn't assert its power and didn't assert is an americanism versus what donald trump has brought. i critique in the blood. this is the good part. he wants to make america great again. neil: part of that is that in the world charge the >> was that what is right. ronald reagan when he first came into office said let's be clear here could the democratic party is trying to blur the lines between the u.s. and russia. they are the evil empire. we are the good.
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we made mistakes clearly. vietnam being one of them. let's face it, we want good things to happen. neil: no country has done more to liberate. >> our economic system has done more to feed people in china than ever before. neil: stepping back from that, this cons at a time when, you know, donald trump wants to spend more money on defense. we also get the same report a 125 and dollars worth of waste. i don't know if it's a money issue, but i was thinking looking at "the wall street journal" from december 8th, 1941 and all the things put in place to pay. not for war including higher taxes, and selling war bonds. the people -- would we depend on the crisis in the conflict be willing to do all of that?
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>> coming out of the great depression the country was a pretty heard country. people were really poor if you know anybody who grew up in the depression. my dad didn't work and people were in bread lines. we are not quite there. we had a great recession. but i think they would. the question is, did we don't face the world were right now, thank god. we faced terrorism, which is a series of congregations around the world that we have to address. our biggest problem right now i believe is economic. it is the fact that people over the last 10 years pretty rly, last eight years, that maybe 10 had seen the wages soared to stagnate. the topline economic statistics of 4%. neil: they were told to sacrifice and pay for all
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americans to pay out. we are going to go from factors helping build the war. >> rich people went into the army back then. too many americans feel that build up the banks. this occurred on the bush president obama. president obama is very good for people. bigger money in stocks of you straight to make. that sort of convergence between the rich and the poor and the fact that average americans still see the light at the end of the tunnel is what is driving a lot. >> we didn't distinguish that back then. >> we did not come out of a bank bailout. they cannot have a the great depression which caused people to lose inheritance of wealth. neil: everyone was signed on. fewer and fewer. >> my dad died like i said, korean war died in the 80s. but i knew.
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we couldn't find a tougher guy. i knew guys that were in german prison camps i talked about what it was like to go from 160 pounds to 90. the japanese prison camps were obviously much, much worse. people died of starvation in those camps. america fought on and the strength and our resolve. >> it's in our dna to be great. basso resonate with china. we will talk about socks all day. there's an overriding thing here, which he brings that's very good. neil: sorry to go off course there, but i thought it was significant on a day we remember the sacrifice of so many young men and women 75 years ago today. at this very minute, the first wave of japanese attackers was
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until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. >> so china joins the world trade organization and since that time with lots of much. 70,000 factories. we will defeat the enemy on jobs and we will defend american jobs. we are going to defend american jobs. and we have to look at it almost as a warrior. neil: albright. almost as it were. president-elect trump sayhe talks about getting past on china when it comes to trade.
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former senator joe lieberman, the vice presidential candidate as well but the homeland security committee that's ranking minority member as well. very good to have you, senator. some military types have been expressing their about the language that donald trump has used it not all i should it arise, in terms of dealing with china as an economic competitor in economic power, equating that with feeling them as a military power to you. >> well, obviously they are the rising as both the military and economic power. i think what the president-elect is really focused on is not breaking relations with china are giving a trade war. really, we are talking about having trade and business with the chinese be more fair than enough until now. our economies are really
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intertwined to the benefit of both. but in many ways, they've been taking advantage of us. frankly, that is why i was personally very pleased when president-elect trump spoke to the president of taiwan because it was another way of saying we are going to play by america rules, period neil: we agreed to this one china policy. you don't do that kind of death. so i am hearing never one for the gasket about it. all i think he was doing is expecting a congratulatory phone call, but others have equated it to an embarrassing diplomatic faux pas or worse. >> i don't buy that. i think this is a fiction, a strange rule of american foreign policy that should've been broken a long time ago. they have done everything we would want an ally to do. my time in public life they have become a great democracy.
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they are a market economy. we have a statutory obligation to protect them if they are attacked by the chinese. and yet somehow -- china argues that taiwan is just really a renegade province that should be included under its fold. if china were to force the issue. they would risk on? >> that's the law that is guided everett and assertions and that was adopted decades ago. the reality here is taiwan is our ally. it will upset the chinese do we say we won't even talk to the president of taiwan. i remember the 90s during the clinton administration, president lee of taiwan who had graduated from cornell university, wanted to come over here to attend his reunion, maybe his peak at the graduation and they would give a visa.
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the chinese would be upset about it. the reason i brought this up in sight to that call between president-elect trump and the president of taiwan into message to the chinese which will reverberate into our economic relationships and negotiation, which is that the old rules are broken and we've got a new leader. >> that's exactly what the president-elect has said. they talk about provocative action. the chinese is militarizing islands in the south china sea and elsewhere that are neat and bears. before this phone call with the leader of taiwan as a picture we are showing here. there was a great precedent for that provoking us long before we provoked them. while i've got you, i'm sorry, but general john kelley, the retired marine general of the
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u.s. south command is supposedly the pic to handle homeland security. what do you think of that? >> so i can't say i know general kelley well. i met him a few times and he testified before the armed service committee when i was honored a few years ago. everything i know about general kelley tells me he's a good administrator and this department which i helped to create needs a good administrator and needs its policy to protect americans at home from terrorism. it had a really good job since 9/11, but the battle goes on. overall, my reaction knowing more is positive to this probable nomination of general kelley to help the dhs. neil: senator, always a pleasure. senator joe lieberman. before the campaign and before the final election to impeach
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the commissioner of the irs. there's still a number of republicans that want to do that, but the leadership has put the kibosh on it. the guy who is not too hot aboue that. -- not too happy about that. time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live.
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neil: a real quick peek at the dow right now. it is. comfortably at record territory. at these levels it is 2.8% from 20,000. about 550.5 from here. we've had many days for which i matter close to that. not so unreachable. the more it puts in perspective how fast this how fast does it happen. 1100 points has happened since the election of donald trump. the small cap stocks about half at nearly 20% year-tdate gain has come just in the election of donald trump. putting this in his comment is here the dow was up 2000 points, but 1100 are stocks editor has undermined in folks.
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i don't know what's more amazing. at many points are that charlie brady knew that off the top of his head. either way it's crazy. not charlie, but the market. charlie's not crazy. i'm afraid to combine demonic numbers. in the meantime, the house apparently derailing and asked her to impeach the irs commissioner john costin is not sitting well with republican ohio congressman jim jordan. he joins us right now. congressman, why would a mixing that? >> you have to ask them, but the american people when they had this election that time to drain the swamp, one of the things they were focused on was john costanzo allowed 422 backups a new in february waiting until june before he told the congressmen who made false statements to congress and congressional hearings. i think that warrants impeachment and that's what we were pushing forward. unfortunately the congress
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decided to extend the resolution back to the very committee where it's been for 18 months. i'm disappointed as the american people are. >> was their thinking is so much or five weeks left of the administration, the guy is going to be done or he won't be gone because there's an overlap there? >> i don't know for sure. when we get back in session with data to focus on obamacare. we can do more than one thing at a time. frankly, sent in this egregious warrant this kind of action and that wasn't going to tie up a bunch of senate climate that some people were singing. i think those were the reasons they gave. all i know is an individual engage in the same behavior mr. costin and any irs did, they wouldn't get off this easy. neil: whoever is appointed a new irs commissioner, obviously you want to check that he or she doesn't willy-nilly do this stuff to any group left or right. but i would imagine that would
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come up in your line of questioning. >> heck yeah. mr. costin is scheduled to be there until november next year. he does that leave children 20th. that's why this is important. neil: many to leave on their own accord. you are quite right he's indicated nothing of the sort that he would finish his term. >> the honorable thing for him to do was resign a long time ago. he chose not to do that against all indications he will stick around. think about this. while we try to do tax reform, you will have john costin and running the irs come is speaking out doing whatever he may do in the last year. all the more reason why they guy should go and so unfortunate yesterday we didn't get enough votes to start impeachment proceedings. if we had come he would then resign. if he was going to face a trial, he would then resign. unfortunately, we didn't get the votes to make that happen. neil: you never know.
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things could change. thank you very much for coming by. a message from the former governor of the vienna. the new powers that he and congress you don't forget about the death of it. don't forget about the dead. don't make promises you can't keep and don't try to buy their loves. [vo] quickbooks introduces jeanette.
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continuation of the obama bull market rally as i'm sure he likes to call it, stocks are going up. well into record territory. russell 2000 populated by smaller stocks, double that percentage pace on the year since the trump election. no matter how you slice it stocks trying to end the year on a very, very positive note. that is an understatement but not all that far, 550 points in the case of the dow from 20,000. which would be the quickest turn from 1000 point level from 19,000 to the next level which is of course 20 you thousand. whether that is a credit to donald trump or some of the things he is talking is anyone's guess. former governor mitch daniels on all that. governor, good to have you. >> hi, neil. neil: they're calling this trump rally, a lot of folks are but it
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it traces to. neil: from your days as governor and advising president bush and now of course president of purdue university, numbers, have to add up for you, always have, always will. i have crunch ad love of these numbers with hillary clinton's plans, with donald trump's plans, at very least, in the short term for donald trump it is going to lead to worse deficits. i can't see that not being the case, even though he argues,
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there is grounds to argue this, you know, dynamic accounting, the bang you get from the buck of tax cuts, you saw that in indiana as well, but, but, but, we might not see that right away. so the deficits will get worse first ent programs is baked in. neil: would you bake in a big tax cut on top of that? >> yeaossibly. if it's well-designed.
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now it won't be sufficient. i hope the administration, let's face it, in what was, maybe not the most uplifting presidential campaign any of us have ever lived through, both campaigns were silent, nearly silent about the debt. i hope that changes because ultimately, debt, that we have, and interest that it will, growing interest charges on it, are a threat to the growth that it is obvious president-elect trump wants to bring to america. so these things are not inconsistent. everything doesn't have to happen in the first bill or the fir six months. i hope they will indicate a concern about the debt and perhaps some concrete steps, maybe a long-term look. for instance, at social security, which sooner or later has got to be addressedded
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neil: from your perch at purdue university, does it academically make sense that you can cut taxes to the degree donald trump wants, even allowing big tax cut for upper income, even though incoming treasury secretary, steve mnuchin, if he is approved, limiting their deductions will offset whatever gain they get in tax cuts, that that will trigger growth?se looy limit the total amount of deductions people take as simpler way, you can have can have something on its face if not revenue neutral, not too far from it. and incremental growth that is
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highly likely, will make the short term i think, more than tolerable. but, you know, you talk about my per be here. i was concerned about these issues as a citizen, as elected official. neil: yes you were. >> i'm really concerned as somebody hang out all day at purdue gym with young people, from one generation or two to bother money in unbelievable quantities, not spend on long-term investments not themselves, consumption and which is what we're doing and hand the bill to the next generation is not only economically wrong-headed it is really not right. frankly it's immoral. i hope if not on day one, as part after comprehensive plan for our economic and fiscal future this administration will do what its several recent predecessors did not and take the debt seriously as a major national priority.
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neil: governor, real quickly, this deal with carrier keep the jobs here, i don't know, i say whatever it is, it is more than would have been the case had donald trump not interviewed, now now raised questions from market purists, capitalists, free money guys who say the strong arm of the government picking and choosing winners and losers. what do you say?
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as long as it doesn't become a staple of national policy, probably not going to do any harm. neil: we'll see. governor, thank you very much. good catching up with you. >> you too, neil. neil: mitch daniels. in case you haven't noticed, very few parts of the country are about not to notice, we have some of the coldest weather of the season hitting virtually the entire country. an arctic blast the size we haven't seen in years. this covers everybody outside after small hamlet in florida. outside of that everybody. more after this.
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>> jeff flock on the floor of cme in chicago with the fox business brief. oil holding up $50 as we speak here. the news, today, on opec, actually, bringing prices down. that is because of decreasing optimism and owe pec and non-opec producers will hold to production cut. the chart looks not too good after run-up. you would have thought prices would be up because eia report was very bullish.
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neil: all right. stocks are hot. the weather is not. first to stocks. dow up over 200 points now. 45 points, what what is propelling optimism. arctic blast is coming you through much of the country. in fact sweeping through most of it. to rick reichmuth to how cold it gets. >> it gets cold. december we're getting arctic arean the lower 48 first time this season. this dark color, that is rlly cold air. it is in parts of alaska and canada but it is getting close. windchill, 22 degrees in seattle. that is very cold for seattle. minus 2 in fargo. you get idea bit wind direction that will settle down over the
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midwest. look at when you factor in the wind, it feels much, much colder than that, even toward denver feels like minus four. the cold is in place. we have windchill advisories for temperatures feeling like minus 20 to minus 30, maybe even minus 40 across couple of locations in wyoming. we'll warm up the southern tier. the cold arrow treats a little bit. we remain cold here in bismarck all the way into the weekend. north platte and denver you warm back above the averages as the air goes back at least by the end of the week but we'll get another shot of it. this is the cold blast coming in here, this blue. temperatures below freezing that will settle in overnight in across parts of the deep south. louisiana, over towards georgia ancarolinas, look at temperatures bsaturday morning below freezing. very, very cold air out there. this is thursday. this is friday. going into the day on saturday, we see a ltld of a
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rebound. this is the beginning. looks behind this, neil. we have another shot of colder air that will come in next week. that will hit the northeast certainly a lot more in the mid-atlantic. neil: man, oh, man, you love to rub it in, buddy. rick reichmuth, thank you very much. >> you bet. neil: a support group, telephone line, an actual audience for students who are still anxious about president-elect trump. really? kennedy says, yeah, really. ♪
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group hotline if you will for students anxious about donald trump. the election was about a month ago but they still can't move on. kennedy here to say time to move on, i guess? >> i think it is time to move on. this is the wonderful opportunity for the nation's largest school district about resilience. sometimes things don't go your way, you don't have to respond to them with total hysteria. i think you can look at some of the decisions and statements that donald trump has made postelection and realize that a lot of the stuff that he talked about when he launched his campaign at trump tower and a lot of stuff he used to fire up supporters at his rales, those were not edicts. neil: he is pragmatic. he is flexible. >> he proven to be more pragmatic than his detractors ever thought. neil: i don't know how much is coming from parents or from them, but i guess they have this support line. do you know what they do on the support line?
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get off the ledge, what. >> they coddle, they calm. neil: maybe you're just trying to get out of class? >> it is frustrating, i have two kids in lausd for many years. you're focused on them learning. this is one of the things that becomes a giant distraction and it grabs headlines. it is what we're seeing in schools. it is this culture of coddling and entitlement that is destroying, now two generations. neil: remember these were, probably a lot of the same kids in that district who walked out after trump's election, remember to protest his sanctuary cities policy and what have you. >> yeah. they're passing all sorts of laws, one specifically in california, redirecting funds and it creating places for charitable donations for legal representation for illegal immigrants in california. neil: when you were in high school, that is five years ago -- >> oh, yeah. neil: what would get kennedy,
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who had a last name back then, whatever, what would get you upset where you would have to go to the authorities of the school or, for me when they were out of cheeseburgers. are you kidding me? you, what was it? >> for me personally at the time, i'm a libertarian now but at the time i was teen republican. i had ultraliberal english teacher who would talk about throwing himself naked on the side of a mountain in tibet. i was so disgusted. neil: by the image? >> i would routinely go to the vice principal's office and hear me coming and slam her door before i got there. neil: kennedy about the naked teacher. could i switch gears, if you don't mind? >> please. neil: the market is going nuts. you see this? >> yeah. neil: we're about the 2 1/2% away from 20,000. >> unreal. neil: unreal. what is doing this. >> funny, we sat here on election night and you saw the futures indices. neil: that was you on election night? i knew it. you brought the magic markers.
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>> i did. neil: yes, you did. >> you're so sharp i need ad bucket of sharpies to keep up. neil: you. >> we saw the markets tanking. neil: but you very early on, memory serves me right you didn't buy the immediate reaction. >> no. it didn't take long for the markets to say, wait a second, we'll see an uptick in manufacturing. oh, we're going to see tax cuts. we're going to see some big regulations rolled back. neil: right. >> to increase at least consumer confidence and confidence of small business owners and there has been nothing so far that donald trump has done to really dissuade the markets from that. will have happen eventually? is he going to say something wildly unpopular? yeah, probably. for now, everyone on this side is still very much in the honeymoon phase. neil: do you know when you were on, i got more complimentary emails from you being on. >> really? neil: yes. >> were they from my mom and stepdad? neil: not a lot -- a lot of
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illegals were very upset. kidding. here is one thing i want to ask you as a libertarian, we got into this before, whateverdonald trump is doing to boy -- buoy the markets some of them wince whether it is carrier or other factory in indiana or what he says about boeing and a $4 billion air force one contract. how do you stand on this? should a president, let alone a president-elect be doing the kind of stuff he is doing, saying the kind of stuff he is saying? do you say no, hands off. >> i don't care who the president is, i don't want to see them intervening with private business. i don't think that is the job. i think we should really encourage the president-elect to keep going with tax cuts an lowering the corporate tax rate. neil: you wouldn't cry in a company would ship jobs out? you wouldn't save them, callously let them do it? >> i don't think it is the role of the president to call every
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single company and consult them for what is best for their bottom line. it is creating a different climate. i don't think it is the worst thing for companies to say maybe we should look at american manufacturing. it would be interesting if apple -- neil: what if that was the pitch. if part of the pitch wait me out, cut regulations cut taxes, what if that is all he did. >> i don't think that is fine but not the job of the president. there is way to get out there not cherry-picking winners and losers. neil: as libertarian are you okay paying $4 billion for a plane forethe president, two planes. >> i think we should scrap f-35 plan. neil: really. >> it i think it is boondoggle. we talked about this on my show last night. often times people in congress servicing their home distributes, creating jobs where they don't necessarily bolster the military. neil: you were very mean to your guest you know. >> which one? neil: all of them. >> that's right. neil: all right. kennedy --
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. neil: all right, the dow just sprinting ahead now, 470 points away from 20,000. i wasn't literal when i said that, but whatever. trish regan. trish: neil, this is huge! wow! we're pretty close. people are talking about maybe 20,000 on the dow by the end of the year, and i'll tell you we are looking like it might get there. take a look at this, everyone, highs of the session, the dow jones industrial average up 281 points. all of this happening as we get news from the president-elect. turns out there's a company out of taiwan, makes products for apple and they want to invest in the united states of america. this comes on the heels of softbank saying it wants to put $50 billion into america,
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