tv Cavuto on Business FOX Business May 21, 2017 2:30am-3:01am EDT
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coffee frozen drink up 50% in a year. dagen: neil? neil: prosecutors in, but investors are not down and out. before another democrat compares donald trump to richard nixon and watergate, i want you to take a look at what happened to the dow back then. ben stein lived it. and was the only one here who was bern in that period. >> you were born then. neil: will you just work with me? we have charles payne, charlie gasparino.
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adays off today. but i want to go back to this whole thing. that history is repeating itself in a watergate way. what do you say? >> i don't think it will be repeating itself in a watergate way. the republicans had an he normous disadvantage in congress. than was no fox news then. i don't get paid by fox news so i'm not saying that to a.k. the people at fox news. there was a sensitive person in the white house named richard m. nixon who would foimed if you if yelled at him too much and trump is a different kinds of guy. the market did go down, but it was an extremely good buying opportunities. after the serious correction
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wednesday the market corrected back up again. it's always a good time to buy stocks when people are worried, and now is no exception. neil: they get shaken a little bit, but then they start buying. >> long term i don't have an immediate concern. we are in the longest bull market since for decades and that makes a big difference in terms of investor confidence. neil: the temperament of the guy in the oval office. many compared that anti-press sentiment to criticism of the two have in common. >> the ability to express that with twitter.
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there would be some legendary stuff out there. on the eve of the trip when he had the meeting with the president of colombia. that's what republicans want to see, let's move on and no early morning tweets. that would suggest something is bugging him and he has to get something off of his chest. having said that, there are no smoking guns. there are a lot of anonymous sources. i think there is a sense of calm now. maybe we'll get too some answers and we can all stop speculating. >> if i may say so, i did not approve and do not approve of the appointment of the special prosecutor. because it means he will go after somebody and some poor indent people will go to jail.
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even saints like castro. he would find something. even saints. somebody is going to go to jail. charlie: you know what fbi stand for. forever bothering italians. there are some similarities with trump and nixon in terms of the paranoia. did he have to get rid of comey now? he's afraid of something. but we should point out the markets are looking at it this way. they are saying the economic policies of trump are very sound. he has good people in place, maybe to carry that out and republicans control congress. they are delineating that from
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the man i am self who does some absurd stuff. there is a degree. neil: what are you still doing there? charlie: weekend we are off air. but you know what they are saying? what's the case scenario with trump. this is way out there. he has to leave office. then you will get pence and a republican congress. people are talking about that. the policies are good. it needs to be executed obviously. neil: outlining his plan to get the tax cut and healthcare rework done. the cbo will get that done. a budget done that will be balanced in 10 years.
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the business the party laid out is still going on. charles: the last two weeks i saw the never trump crowd, if i had a never trump meter. they have gone back into their corners, and some are elected officials on capitol hill who would like to use the controversies on capitol hill as cover for not playing ball. neil: i think nixon was done in by watergate as much by the economic environment. bill clinton largely avoided it because the economy environment was sound and wall street liked him. the environment can make a big difference. the environment right now is pretty good. assuming this escalates, it
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might help donald trump. >> i think back to say that unemployment is below 5%. where with nixon with watergate it was close to double digits. inflation was 12%, now we are 3 3%. >> it wasn't nowhere near that high. it was roughly between 3 and 3.5%. unemployment was roughly near 6%. there was fear about all those things. i think the economy is very strong now. here is something i remember mr. nixon sitting as close to me as gaspo is sitting to a slot machine. he said he could survive
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anything but 50 cent a gallon oil. charlie: ben, i'm in your age break the kind of. inflation was raging on certain products. you had oil and oil-related products. >> i agree. charlie: but i'll make one opt i are point and this is somewhat exculpatory for donald trump. nixon was strategic. donald trump is blundering into this stuff. neil: you mentioned the economic environment can make a difference. let's say whatever the figures are now. that this environment hold, it would take a lot for this thing to escalate against president trump. >> i think it would. he has his own megaphone through
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social media. he's able to tell the narrative in a way -- at the end of the day his success is their success. impeachment is ultimately political. neil: that's a callous, merciless way to look at it. neil: donald trump making saudi arabia his first trip. remember what he told me. >> i would call up saudi arabia and i would say. the prices are coming down.
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heavy equipment maker deare shares jumping after reporting solid results. foot locker's shares down. north korea may not have been behind the cyber attack. experts say the pattern doesn't fit the previous hacks blamed on north korea. watch the fox business net yoork. giving you the power to process. >> if i were president you would have $30 a barrel oil. i would call up be very and say that [bleep] price is coming down, and it's coming down now.
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they would lower their prices so easy, and they will. neil: i forgot back in those times we didn't use lights for our interviews. danielle says president trump needs to get tough with the saudis right now. but they hold a lot of the cards. they cut back on supply and they think they can get the russians to help them out. oil prices have been moving up. >> if trump can do what he said would he would do in 2008 and convince the called why is to keep oil prices low, it's great for u.s. consumers. money in the pockets of consumers. they save more and spend more. and we'll have russia on the other side who wants to get oil prices up because of their reliance on oil.
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neil: then you have people like charles payne who say if if you don't have a little boost. charles: remember when oil crashed, it did nothing for our economy. anything people saved at the pumps they put in oil cans. we have a lot of people working in oilfield. we need crude oral between $50 and $60 minimum. we don't want oil to be $30 a barrel because it would hurt or economy more than it would have helped 10 to 30 years ago. neil: you get the lower taxes, but all of a sudden you get a situation, where now we have high energy prices, interest rates are moving up. and it's a net launch.
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>> i'm not sure about that, the cause and effect in economics are extremely hard to figure out. even if -- that is not a great scenario. not in the slightest a great scenario. i don't think saudi arabia and russia acting together can control or fix the price of oil. there is an awful lot of isle coming on line from the united states of america it's not like the days of opec where what saudi arabia said was law it's a worldwide economy and it's affected by more than the will of saudi arabia. i'm glad you showed that clip of mr. trump promising $30 a bill oil. what nonsense that was.
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how insane to listen to that and not have him locked up for that. charlie: what about the other stuff? neil: one of the things that came out, as a candidate mulling getting in politics down the road, he was going to take on the chinas, he was going to take on the opec guys. by as president has had a far gentler touch. some would say the mere opposite of that. >> i think when you have to get tough with these guys you have to do it. the problem was there was a dwer jones from -- there was a divergence from reality. i always agree with ben on everything except for taxes and a few other things. donald trump called china a currency manipulator.
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he found out now somehow they are not. neil: he wants their help with north korea. charlie: donald trump was going to have a healthcare plan that would make your head spin. neil: you never say a good word about him. charlie: i hold him to his promises. neil: tell me one thing he has done okay. charlie: what he's great pat and should be sticking to is his economic policies. immigration, you can't have open borders and a welfare state. we are involved in all this nonsense. the economy is a big issue. immigration reform. and he had the formula by the way, he gets the economy going, there is nothing they are going to touch him on with this russian stuff. neil: "mad dog" mattis take on
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assad with more strikes. congress take them on with more sanctions. which one do you think will pack the most punch? >> today on forbes on fox, with the president overseas and the president focusing on allegations and accusations, the white house is about to reveal something dramatic all americans should be focusing on. the summitter of resistance.
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neil: to the strikes on syria. the house going after his money. charles, will this activity work? charles: i like both it's a good idea to have both. economic sanctions alone never get the job done. you need to hammer someone like assad, and you have to hammer his him hard. there are so many ways in a global economy and black markets to get around the economic sanctions. but you start to wipe out the military and the military capacity, that's when you get their attention. neil: syria and north korea are among the most sanctioned countries on the planet and they still do untold damage. they have great been factors. but, man, how far do we go with
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it? >> sanctions with the opportunity to have a leader. but thive humanitarian effect harkens back to the iraqa invasion. the institutions of civil so sight were decimated. people were hungry. we are voting, i'm voting for targeted strikes. let's say we do this again and the russians at this point don't look the other way, where is all of this going? ben: i hope it not going to war with russia. i don't think it airstrikes and stations will work. we dropped 180,000 tons on germany and their air production went up not down. sanctions are not going to work
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with taken joust law regime like this with friends like to russia. i think this madman is in there for a long time until he has a stroke or heart attack. i don't think we have any options there that are good options it's a horrible situation. we can drop all the tomahawks we want and it won't change things. it's just a nightmare. >> i don't know ben was going to bring up vietnam. nixon dropped tons and tons of bombs on vietnam and their will to resist and fight us increased. there was once a presidential candidate who said a horrible thing if president trump would go out and bomb syria. he said it would be horrible. his name is donald trump.
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eth another 18 oh -- 180 where d getting involved in these wars, overthrowing dictate tores is bad. he can say those photos which were horrible were bad. but assad has been doing that for years. i think his initial -- he was initially right. we are not going to win that war. never. neil: we'll see. i want to thank you. a real pleasure. stocks on the way up no matter what goes down after all this. this. survive tlifr no
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>> ben. >> as always fighters hold them long enough you will be rich. >> he will be rich, the way he said it you will be rich, i hope you founded this -- we continue now. david: why washington is focusing on the allegations against president trump as he takes first foreign trip, someone here says with our debt nearing 20 trillion dollars we should salmonella be focusing on a really revolutionary plan the trump team is upvailing brand-new budget aimed at something we have not done in a long time balancing the federal budget can they pull it off with everything else that is going on hi i am david asman welcome to forbes on fox let's find out what michael, elizabeth, sybrina, john, and bruce might very ambitious the goal
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