tv Cashin In FOX Business September 17, 2017 7:30am-8:00am EDT
7:30 am
your portfolio. >> every man needs a tractor. david: keep is here. the number one business block kins with cashin' in. trish: north korea firing near missile promising to reduce the united states to, quote, ash and darkness, as the u.n. steps up sanctions and the u.s. puts pressure on china to do more. what's it going to take for north korea to do what we need it to do and get rid of the kim jong-un regime. i'm trish regan. juan williams and gentlemjason, start with you. what is it we need to do right now? because we cannot allow this regime to be able to have the
7:31 am
ability to hurt us and to hurt japan the way he can this right now. >> look, we've done what, eight or nine sessions of sanctions? i don't think those are going to work. if they were going to work, a, we should have done the maximum a long time ago and, b, i don't think kim jong-un cares about his people. we have a lot of military might, but it's only china and russia that can put pressure on the north korea regime, but then again, i think our military's going to have to step it up and they may be having a little more show of force. i think that president moon of south korea has taken a much more palatable, if you will, stance against north crowe. he started out as more of a dove and he's been a bit more hawkish. >> everybody keeps escalating with military action and putting us along a path to effect world war iii. i want to tell you, rachel, china holds a big key to this. rex tillerson coming out this
7:32 am
week saying that china and russia need to be on board with us for this regime. and i've asked countless specialists and generals, what can we do to put kim jong-un in a corner and replace that regime and they said we can't. it's china that holds the key to that. if that's the case, how do we get tough with china? >> it's a great question and you're right, the key is china more so than russia. and for some reason they don't want a regime change and i think it's because they don't want-- they want that buff of north korea on their border so that south korea, which is u.s. friendly, isn't right there or joined up with north korea in some way. and i think they're also afraid of a refugee problem. so, there's got to be some solution just short of regime change that cripples at least militarily the leader of north korea. but i think that the only way to do it is to go after chinese
7:33 am
banks, i think it's going to take donald trump being serious and maybe actually doing that, even knowing it could cause us some economic harm, but this thing is escalating so fast. if we don't do this economically, it's going to go to military and i don't think that's good for anybody. trish: i tell you one thing, rachel, i'd much rather lose a few dollars than lives, and that's-- those are choices that we can and need to be making. juan, we've sanctioned one chinese bank. whoopee, right? the bank of china, by the way, a couple of blocks away from here, they're fully in operation. there are a slew, not to implicate them, but there are a ton of chinese banks that are still doing business with north korea one way or another. shouldn't we be going after china hard? and i mean, being willing to do whatever it takes, including cutting trade off with china if they don't actually step up to the plate and help? >> well, let's stop for a second here.
7:34 am
i mean, i agree with you, trish, about the military option. i have yet to talk with a general who says, oh, we can go in there and it's going to be surgical and there won't be any collateral damage. there's huge presence of american troops, more than 30,000 there in south korea, plus, the entire area of south korea and japan. these are our allies and there would be consequences to military action. it would be as defense secretary mattis has said, a blood bath. but in terms of china. remember, china voted with us in the united nations to up the sanctions. and by up the sanctions, i mean, ban oil imports into north korea, stop their sale of textiles, a key source of of revenue for that north korean regime. the question, are we willing to accept a nuclear north korea? i think japan is not unless you say to japan, oh, yeah, you get nukes, too. and south korea, as we heard from jason chaffetz a moment
7:35 am
ago, is more aggressive in terms of their stance. they can't change what's going on. i think they have to negotiate it and the question is, how much are you willing to accept in terms of-- >> we're not willing to accept a nuclear north korea, i think that's the bottom line and not only are we not willing to step it, representative chaffetz when you think of what that would mean for global instability, i mean, with the north koreans under so much financial pressure, who is to say they won't sell to some rogue middle eastern equipment-- >> they are able to do it because of iran who wants death and destruction to the united states. and chinese holds most of the debt. you see the problem when you have to sell more debt into the world market. if we get into a trade war with china and they doesn't want to buy our debt. trish: that's the argument, but i'm going to fire back this one at you. so what they hold our debt?
7:36 am
we're the ones that need to pay that debt. if you're the bank and someone's got a mortgage in jeopardy of default, you don't want them to default, right? you want to help them to make whatever payment they can because you need that, that debt to stay active and continue getting paid on time. so, rachel shall as much as people bring up this argument that we are in debt to china and they're effectively our banker, we are the ones that owe so much money. they're the ones that need to get paid back, we have more leverage than they think. >> i totally agree. we have a president, i think, that's willing to get tough. this north korea problem didn't happen in a vacuum. i mean, representative chaffetz brings up a good point about iran's involvement and we've empowered iran. remember when moammar gadhafi gave up nuclear ambitions we had hillary clinton saying, we came, he died, so, we have made it rational for the leader of
7:37 am
the north korea to want to go nuclear for his own survival. so our whole basket lies in china and i agree with you i'm a mom, i'd rather see us lose economically and use the leverage with the chinese banks and cut off the bail than i would-- >> hold on a second, everybody. wait a minute, you'd have us a the a moment when the economy is looking good middle class incomes are at historic highs you want to start an equivalent of a trade war and-- >> a trade war is much better than a nuclear war and i think this situation is escalating to a level and at a rate that makes me very nervous as a parent, as a citizen. trish: we'll leave it there. a whole lot more. a whole lot more. could mother
7:38 am
♪ a whole lot more. could mother it's a highly contagious disease that can be really serious... especially for my precious new grandchild. it's whooping cough. every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. they always refer to me as master sergeant.
7:39 am
they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today. my frii say not if you this protect yourself.ary. what is scary? pneumococcal pneumonia. it's a serious disease. my doctor said the risk is greater now that i'm over 50! yeah...ya-ha... just one dose of the prevnar 13® vaccine can help protect you from pneumococcal pneumonia- an illness that can cause coughing, chest pain, difficulty breathing, and may even put you in the hospital. prevnar 13® is approved for adults 18 and older to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia.
7:40 am
you should not receive prevnar 13® if you have had a severe allergic reaction to the vaccine or its ingredients. if you have a weakened immune system, you may have a lower response to the vaccine. the most common side effects were pain, redness, and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. get this one done! ask about prevnar 13® at your next visit to your doctor's office or pharmacy. money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
7:42 am
>> today mounting concerns for the push for tax cuts might actually be delayed, delayed because it's going to cost so much to deal with the hurricane relief. what does congress do in light of all of that. representative chaffetz, you know how congress works and how bogged down congress is right now. and how tough is it going to be especially when we need so much money to help texas and florida. >> and i know how congress works. we should have had tax cuts a long time ago. i want tax reform because i don't think that tax cuts is enough. it's not what we promised and not what we should deliver. absent from the discussion about tax reform has been where are you going to cut in the budget when you have irma and harvey and talking 100-plus aboutle in expenditures at the same time you hear discussions about wanting to do infrastructure spending, then the numbers start to look really, really ugly and i think that's why the struggle to get out a package.
7:43 am
the key date is december 25th. and president trump earlier in the week i should say, surprised everybody saying the details out on the 25th and i think that congress hasn't seen those, so it will be interesting to see what happens there. trish: he surprised everybody with the big dinner at the white house, showing he's a little willing to work with the dems when it comes it getting some kind of tax reform package through. how likely is that in your view? >> it's not likely. we don't know the details. maybe if i knew the details i'd do a better job of prognostication, but i can't. when i hear from people on capitol hill, they're saying, we're not going to do tax reform, which is congressman chaffetz was talking about, looking at the tax structure. we're down to the idea of tax cuts and even on the percentage of tax cuts for corporations and individuals, there's a lot of back and forthright now-- >> all right, i'm going to jump in.
7:44 am
we don't know all the details. he has made it clear he would like to see a 15% corporate tax rate. >> but that's not-- >> like to see the individual rates cut. are' -- you're shaking your head no? >> he said in the past week, he said he's willing to raise taxes on the wealthy. >> the wealthy or the high income earners? i think there's a distinction between that. rachel, it's one thing if you manage to have a good year as a, you know, employee, it's another thing if you're sitting on hundreds of millions of dollars and paying the capital gains tax rate on it. there is a distinction between wealth and income. and one of the things that i think is pretty disheartening right now is that the left wants to penalize income. how is that right? >> i agree with you as an american. however, we're in a deal-making mode. we have to get this deal done and that means we probably have to involve democrats. so, am i willing to make, you know, to let the, you know,
7:45 am
zuckerberg pay less in taxes? yeah, i am. or pay more in taxes, i am rnths. trish: there's a distinction between income and wealth. zuckerberg has a hell of a lot of wealth. in new york city you're sending your kid to school and get by on a amount like that. it's relative to where you are. >> i agree. trish: the left wants to paint owl quote, unquote, high earners as so-called wealthy and paint them like that. >> trish, can i just say, you're absolutely right, however, we have to get a deal done and so, i think sometimes in this case, it's a good example. we have to prioritize, i think corporate and middle class taxes are going to have a take a priority if that what it takes. >> spending, you have to cut tax spending along the way, you
7:46 am
can't continue in perpetuity to be in deficit. >> that's the elephant in the room for republicans. the deficit. republicans have been deficit hawks during the obama time, right? and now the question is, with the hurricanes that trish was talking about at the top of the segment, are you willing to say, wait a second, as americans, we have a responsibility to help each other in moments of emergency and it's going to impact the way we do tax reform? i think the connection isn't there. i'm so pleased we're discussing this morning because i think a lot of people would like to look away. >> i think that this president in particular, one, doesn't have quite the same fear of debt as a lot of other folks do and that's in part because of the business he's been in where it's all about leverage and all about debt to be able to build your business and build your buildings. so he may not have the same fear and i do think he genuinely wants to help, as we all do, right? everybody in texas and everybody in florida that's challenged right now, and are' seeing americans come together in that effort and means
7:47 am
they'll have to come together, representative chaffetz, in congress, to try and get something done. as you point out, at some point you're pushing on a string here and there's no more money. the only way we're going to effectively get more into this economy is by generating some growth, and by having more jobs and creating a stronger middle class and therefore, bringing in more tax revenue, but, you know, it's a chicken or an egg kind of thing. >> it's a pro growth agenda and the idea, the theory, if you can get gdp grow, to 2% and then to 3%. and i think most of the infrastructure is going to have to go to florida and texas as opposed to throughout the whole country. there's so many hundreds of billions of dollars you can give out, but we still have to cut spending and that's a fundamental problem. trish: we do and we need to
7:48 am
generate activity in this economy which probably means tax cuts and tax reform certainly at the corporate level and bringing overseas profits back home to work for us instead of other countries, and you know, looking at the individual tax cut rate which, i'm sorry, happens to include the people that actually pay the taxes. all right. coming up, everyone, how hillary clinton's new book could backfire on her money making brand. don't let dust and allergens get between you and life's beautiful moments. flonase outperforms the #1 non-drowsy allergy pill. it helps block 6 key inflammatory substances that cause symptoms. pills block one and 6 is greater than 1. flonase changes everything.
7:49 am
you each drive a ford (all) yes.ght? i'm going to show you a next generation pickup. awesome. let's do this. the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. stronger the better. and best of all, this new truck is actually- (all laughing) oh my.... the current chevy silverado. current chevy owners and lessees get a total value of ten-thousand, six hundred dollars. or, 0% financing for 72 months on this silverado all star. find new roads at your local chevy dealer. for tech advice. dell small business advisor with one phone call, i get products that suit my needs and i get back to business. ♪ so new touch screens... and biometrics. in 574 branches.
7:50 am
all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver.
7:52 am
trish: hillary clinton catching some flak about her new book blaming the election loss on a whole lot of things and a lot of people. she launched the book across america, and some v.i.p. prices running as high as, can you believe $3,000 for two people. juan, i'll start with you. do you really think that people are going to cough up three grand to go see a candidate that's going to tell all the reasons why she lost this election yet again? >> trish regan, miss capitalism, of course. if people want to pay, people will pay. in all honesty, i right book, i love to have book events, i've never been able to charge people, but i'll be totally honest. trish: i don't know if she can either though. >> there was a line outside the bookstore here in new york at 5 a.m. for a 12 noon event and
7:53 am
the line stretched more than 250 people at 5:00 a.m. so there's a market. trish: i'm talking about the stadiums, right, here with the $3,000 tickets for two. and it does include a photo op with her, but, rachel, she was challenged to fill the stadiums when she was out there speaking. i don't know how she's going to fill them now. >> well, if there was a line at 5:00 a.m., she clearly has had a base of support. the problem is this book tour is hurting her party and it shows that hillary clinton is really unfathomable greedy. she doesn't need to do this. she doesn't need to hurt her party and, frankly, she is he a-- she's making a fool of herself on this tour and blaming everyone. i think it's hurting her party. it's hurting her image, it's hurting her legacy. she should take a play out of the george bush playbook and learn how to retire with grace.
7:54 am
trish: jason chaffetz, retire with grace, it feels like she doesn't want to go away. >> hey, you know, as a republican, just keep going. i hope she runs for president again, that would be the best thing to happen to the republican party. look, her, nancy pelosi, chuck schumer, as long as those are the leaders of the democratic party, things look very good for the republicans. trish: now, well, i hear where you guys are coming from, but it's a challenge right now for the democrats and they've got to figure out who the new blood is in the party, and it can't be a bernie sanders socialist, or the elizabeth warren types. i'll promise you right now you'll be dealing with a very challenging landscape if that's the route you go and hillary clinton would be wise to think about that as well. anyway, thank you so much, guys, great segment and extra special thank you to jason chaffetz to be here, we appreciate it, representative you know who likes to be
7:55 am
in control? this guy. check it out! self-appendectomy! oh, that's really attached. that's why i rent from national. where i get the control to choose any car in the aisle i want, not some car they choose for me. which makes me one smooth operator. ah! still a little tender. (vo) go national. go like a pro. with some big news about type 2 diabetes. you have type 2 diabetes, right?
7:56 am
yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis
7:57 am
or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so now that you know all that, what do you think? that it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪ when i was too busy with the kids to get a repair estimate. i just snapped a photo and got an estimate in 24 hours. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance. >> you know, before we go, we
7:58 am
want to pass along our condolences to eric bolling and to his family. eric and his wife adrian lost their son. eric chase bolling was 19 years old. and i know you worked, rachel, with him on the show and you knew him well and know him well and his son meant the world to him. >> he did. and i just want to say that it was-- eric has always been professionally kind and gracious to me on the show and my heart just breaks for his family and i want to send my deepest most heart felt condolences from myself and from everyone in the fox family on to him and his family. trish: it's a terrible, terrible thing for any parent to ever have to go through. this was their only child and juan, you also have known eric a long, long time and you know his son meant so much to him and again, this was their only child, 19 years old. >> so, you know, i spent a lot
7:59 am
of-- i went to clutch on sunday and i spent a lot of time just trying to make sense of something like this because it's so-- it's an immense hurt. i don't know how you cope with it and what i would say to eric and to adrian is that, you know, you just-- that love is the only thing i can say, 'cause i don't know how you deal with this kind of pain. i know how much you loved eric chase, i think all of us here who have known eric, you know, eric and i have been across from each other for years, not just casually, we go into it and we disagree, but i've got to tell you, i would hug you eric, and let you know how much as a dad, i just don't even know what to say to you, man. it hurts and i understand the hurt, but i hope that you and adrian can love each other and know there's a lot of love out there for you and for the man that you are. you're a great one, eric. trish: it's so hard to imagine any family going through this and you know, just on behalf of myself and everyone at fox business, everyone at fox news,
8:00 am
everyone here on the cashin' in crew that worked with eric and knew his son, all of our thoughts and all of our prayers are with the entire bolling >> i'm bob massi. for 32 years, i've been practicing law and living in las vegas. i help people with all sorts of real-estate problems, from trying to save their homes to closing major deals. eight years ago, 6,000 people a month moved here, looking for employment and affordable homes. little did anyone know that we would become ground zero for the american real-estate crisis. now, it's a different story. the american dream is back. we're gonna meet real people who faced the same problems as millions across america, and we'll dive deep into a city on the rebound because las vegas was a microcosm of america, and now vegas is back. [ woman vocalizing ]
55 Views
1 Favorite
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
