bringing some red to the markets. [closing bell rings] could have been so much worse though. fear the word of the day. that will do it for the claman countdown. have a great weekend. melissa: crisis in turkey hitting wall street. stocks slammed. the dow ending the day down about 196 points, off the lows of the session but still. it is red for the s&p 500 and nasdaq falling further away from record territory. i'm melissa francis. david: with everything that is going on in the world in the united states, who would have thought from turkey would have affected market this way. melissa: right. david: i'm david asman. this is "after the bell." more on big market movers. here is what else we're covering for you. it is a very busy friday, folks. talking tough to turkey. first of all that is what started the ball rolling downhill. president trump vowing new tariffs on the country in their response to refusal to release a

an american pastor being held captive there. this adding to the market anxiety. details in a live report from the white house. the president taking jabs at chicago mayor rahm emanuel what he calls bad leadership as violent crime out of control. at least one chicago-based democrat congressman saying enough is enough. la shawn ford is rejecting mayor emanuel's call to keep president trump out. saying chicago needs the president's help. he will join us live coming up. new nasa space mission ready to blast off where no mission has gone before. we're live with kennedy space center with a preview. among our guests at this hour, steve forbes, dan henninger, retired brigadier general anthony tata. melissa: the dow diving on fierce of financial instability in turkey, driving down shares of intel, caterpillar and goldman sachs. phil flynn watching action from

the cme and nicole petallides from the floor of the new york stock exchange. nicole, start with you. >> what happened to our streak? they had five straight days of gains snapping that with the dow down 196 points. the nasdaq composite squeezes out the second weekly gain but it snapped something too. the nasdaq was up eight days in a row. we haven't seen that in 10 months but it finished to the downside today. fang index, if you're hot on the fang index that is up 2% for the week. intel on the goldman sachsdown grade and some of these names related to tariffs and industrials. look at this, boeing, goldman, 3m, caterpillar and also home depot, those five accounted for half of the dow's decline. then take a look at the vix. we had light volume here on the floor of the stock exchange. was not conviction from the bulls to the downside but you can see, look at the vix up about 16 1/2%. here is a quick peek at

facebook. hey, new requirements. if you have a large u.s. audience they will have new requirements to prevent organizations and individuals, to have access, exactly what they are and what they are talking about. stock down 1 1/2%. look at weekly moves overall. but that turkish lira and the crisis there, worried how that could transcend into the ecb, the whole eurozone. the euro even dropped. we have a strong dollar. that is how we ended this week. everybody ran to utilities and bond yields. david: happy friday, nicole. phil, is turkey affecting these prices? >> initially they were, dave. early in the morning, 3:00 in the morning when the news from turkey was starting to break oil prices were getting hammered, they really were. concerns about growth, contagion demand. that, energy agency raised demand for energy next year. came out said if we lose iranian

oil the world will have a very difficult time replacing that oil. that changed the mood quite a bit. if you look across the board in commodities today, dave, everything was moving down here of the dollar, gold, you name it. gold didn't close up that much on the day, when you compare it to how much the dollar is up usually you get that huge inverse reaction. we didn't get that today. shows you there is fear buying in that. we saw a flight to quality in the treasurys down here. the t-notes. all of that. all on guard for the worst-case scenario. turkey is a very small economy. remember greece was a small economy as well. that really shook up the global economy for a few months. but that is really kind of the mood we saw here today. back to you. david: turkey is important. phil, thank you very much. melissa. melissa: vowing to fight back, turkey threatening retaliation after president trump's decision to double tariffs on steel and aluminum imports from our nato

ally. blake burman at the white house. blake. reporter: with a big announcement from the president on terrorists you would think that potentially had something to do with china. instead this dealt with tariffs and turkey earlier today. the president revealed on twitter earlier this morning which he wrote the following, saying, quote, i just thorizeed the doubling on tariffs of steel and aluminum with respect to turkey, as their currency, turkish lira goes rapidly down against our strong dollar. aluminum will now be 20% and steel 50%. our relations with turk can are not good at this time. turkish ministry said the increase does not fit within the world trade organization rules. a spokesperson says turkey expect the other member countries to abide by international rules. the white house later clarifying, tariffs, the raise will not go in place immediately. spokesperson from the white house saying the following quote, as he stated the president has authorized

preparation of documents to raise tariffs on import of steel and aluminum. section 232 tariffs are imposed on imports from particular country whose exports threaten national security as defined in section 232. independent from negotiations on trade or any other matter. now that last point there is important because the white house says this is a stand-alone issue. but as you know, the president, this administration dealing with turkey right now, trying to free the pastor, andrew brunson, a pastor from north carolina who has been held in turkey since 2016. turkey says they are holding i am on terrorism-related charges which the white house and u.s. government and pastor brunson himself vehemently deny. here was the state department on this matter yesterday. >> made any progress about the situation of pastor brunson? >> i would say we would define progress as pastor brunson being brought home. i think --

>> until he -- >> progress is pastor brunson being brought home to the united states. reporter: it is unclear if the pastor brunson issue has anything to do with the tariffs that were announced by the president today but as you know, david and melissa, this president and this administration feel very strongly that tariffs are bargaining chips. that work. melissa: interesting. blake, thank you. david: let's bring in today's market panel. jack hough, "barron's" senior editor and carol roth former investment banker. jack, look at number, tur, the turkey etf. that takes turkey companies and government debt into consideration, down 14 1/2%. if you look at six-month chart. this thing has been going down six months. it wasn't just today's tariff announcements that sent it down. >> turkey is in trouble. the problem the average investor is saying i put 1% of my

portfolio into the turkey etf. people are indexing. doing broadly as possible, buying emerging market etfs, when someone says i something like that happens, i will see my emerging market etf it can cause weakness among emerging markets. impact could make the dollar even stronger, seems to be the opposite of president's intended reaction. david: carol, a lot of people are saying think what happened with greece, et cetera. this is something that seems more contained to me, particularly as you look at the six-month chart of the turkey etf. it has been going down for a while. this seems more centered what is happening in turkey than something broadly happening in that part of the world? >> yeah, no, i wouldn't say this is probably our next black swan event. it is really a big fat turkey, david. david: yeah. >> if you're thinking about what the potential risk here is, i think the biggest risk isn't directly anything between the u.s. and turkey. it is that a lot of banks in europe have exposure to turkey.

and so like you made that connection with greece, that exposure potentially could be a contagion that could end up having an effect on the global economy but i do think it is more contained in this particular case. melissa: stay with us, guys. tesla still in the spotlight as new details emerge. fox business is learning that the tesla board is meeting next week to discuss financing with bankers and the possibility of asking elon musk to recuse himself from the process of taking the company private. jack, do you think that makes sense? >> i mean, they should ask him to recuse himself from running a car company because things are getting weird. i think elon musk has completed his transition into donald trump this week. he is tearing down barriers, doing things you wouldn't normally do on twitter. he is doing serious things and being very cavalier about it. and i think it is kind of thing that could come back to bite him in terms of legal props down the road if this deal doesn't happen.

melissa: yeah. carol what is your take? maybe we should just shut down twitter? >> well -- melissa: would solve a few problems. >> i'm probably not going to be able to jump on that one but as a former investment banker i can tell you it is insane to think somebody not only 20% shareholder but who is the company could recuse themselves from going private process. if you're an equity investor you will want to see what elon's visit for the future before ponying up 70 plus billion dollars in equities. what they should recuse him from is perhaps his social media accounts but certainly not from any talks about going private. melissa: i don't know how you have a conversation about the company without him. >> you can't. melissa: anyway, guys, thank you. >> thank you. david: melissa: inching closer to a deal on nafta, u.s. officialsing trade talks with negotiators from mexico and japan to sort out a deal. edward lawrence is live outside the u.s. trade representative es office with the latest. edward. reporter: melissa this is an

unscheduled meeting t lasted 90 minutes when it was supposed to be a short review. mexican economic minister says they're very close to a deal on nafta, especially autos. >> this will depend on the spirit in which the next few days or weeks we finish the u.s. mexico relationship. reporter: now my sources say once a deal is finished with mexico it will be presented to the canadians to see if they want to sign on or be left behind. so far there are no plans for the canadians to come to the u.s. trade representative's office here. the president in the past also said that he does like bilateral agreements. so right now, right here, this is all about u.s. and mexico. >> making a lot of advancements. coming back next week. we will keep on working. we'll work from more conflicts to less conflicts. reporter: things are going so well the mexican delegation will

be back again next week to try to work things out, to see if they come to a deal. there was very unusual situation today. we had two delegations here. the japanese delegation came in. because the mexican delegation meeting lasted so long, they passed inside the hallway of the u.s. trade representative's office. second meeting to get a fair deal with them. meeting happening this week. they also had one yesterday. the u.s. trade representative putting out a statement today that both sides agreed to work more towards open and freebie lateral trade. back to you, melissa. melissa: very busy in the office. edward lawrence, thank you. david: if that wasn't bad enough, another blow to cash-strapped venezuela. the federal judge ordering seizure the only u.s. asset, citgo petroleum. will this be the straw to break its back. here is have necessary that

newman, author of the book, blood profits. first of all how badly will this hurt the maduro regime? >> it is huge. it is huge. this is only remaining economic lifeline other than maybe drug trafficking that is still available to the venezuelan regime. basically, it hits it in two-ways. the u.s. still remains its biggest market because citgo has refineries that can refine this very heavy crude. and it also, it is also a way of the u.s. by allowing seizure of these assets through the debt, the u.s. therefore doesn't with to sanction the entire venezuelan oil industry. this pretty much has the same effect. david: yeah. >> you know, and it is also, citgo also produces a lot of lubricants needed even to draw the oil out of the venezuelan territory. so not only can it not sell to the u.s., will it lose the asset that gives it access to u.s.

dollars, it also gives limited access to the raw materials it needs for production. david: this is huge. the thing -- >> this is huge. david: the thing that people have to keep in mind, venezuela, already ped vase sachs pedevesa oil company, was already in shambles after the hugo chavez replaced serious engineers with his cronies and they essentially ran it into the ground, right? >> correct, exactly. all this really start in 2002. when you had a coup attempt against chavez. then you had oil seizure, freeze in the oil production that pedevesa didn't like what hugo chavez was doing with the oil company. so they ceased production. they went on strike. chavez then put, cleaned them all out and put military in charge. that was the beginning of the end. oil price is very high. david: they kicked out the people that knew what they were doing. it just went down. >> exactly. david: let me ask, bottom line here, there is $150 billion in

international debt outstanding with venezuela. >> yeah. david: they're behind, delinquent on $5 billion so far in payments. >> yeah. david: they were relying on some of that citgo income to pay off the debts. they don't have that anymore. they will go into default very soon, are they not. >> absolutely. the treasury decision two weeks ago to allow trading in the 2020 pedevesa bond seemed like a generous gesture. no, it was about the failure of citgo. by allowing trading in the bond, it allowed bondholders to make a claim. opened it up with defunct canadian mining company crystalex for 1.4 billion. now bondholders will come. two for one for the u.s. government. it is the last thing that will push over regime change, maduro regime and sticks is it to the russians. the russians owned 49.9% of citgo. if other claimants come in, russians lose access.

david: it's a two-fer. we have to leave it at that. vanessa. thank you very much. good stuff appreciate it. melissa: she is great. david: she is. melissa: russia vowing retaliation against sanctions from the trump administration. the prime minister reportedly calling it a declaration of economic war. retired bringing deer general anthony tata praising the president's tough action. he will tell us what needs to happen now. david: meanwhile back here at home the list of democrats distancing themselves from nancy pelosi is growing as republicans continue to hit her hard in political ads. is she a liability for democrats come the midterm elections? our political panel weighing in. melissa: democrats socialist alexandria ocasio-cortez rejecting an offer to debate conservative commentator ben shapiro for $10,000. what she said in her response that is setting off a firestorm on social media. we have the details next. >> i really wanted to make a direct appeal to alexandria ocasio-cortez, the future of democratic party according to tom perez the head of the dnc.

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>> i would love to have a real conversation about eschews. you said republicans are afraid to talk with you or discuss the issues, not only eager to discuss the issues with you, i'm willing to offer $10,000 to your campaign today. melissa: conservative commentator ben shapiro inviting rising democratic socialist star alexandria ocasio-cortez to debate. this is how she responded in a tweet. just like cat calling i don't owe a response to unsolicited requests from men with bad intentions, cortez tweeted.

catcalling they feel entitled to one. reaction, dan henninger, "wall street journal" deputy editor, richard fowler, nationally syndicated radio talk show host, both fox news contributors. dan, what do you think about that? >> her response, let me see, i'm trying to come up with a word to describe it. how about stupid? melissa: yeah. >> catcalling. that was not what ben shapiro was doing. ben shapiro simply offered to debate her and debate her ideas but i guess on the left the idea you would disagree with somebody refute their ideas amounts to catcalling they simply won't accept it. she is a big celebrity now. she is politician. she is a public figure. trying to protect her brand by not getting into a debate with ben shapiro, for that she has some reason to believe she would be reputed. she will not be able to avoid these situations forever. melissa: yeah. richard, you know, it does seem like, i'm not sure she would be able to hang there in a debate,

given that she has really stumbled in a lot of very friendly interviews. >> well, listen i think we'll have to see. actually the debate of alexandria ocasio-cortez to her constituents in the new york third district is smart and intelligence she wouldn't have won the primary this is larger thing. why does she have to debate ben shapiro? there is no reason -- melissa: she doesn't have to. she could have declined in a way, that was smarter. >> here is how i see this, right? i think there has been this beyond the fact that ben shapiro offered to debate her on twitter, she has been sort of being bullied by supporters of his, why don't you do it, you're stupid, blah, blah, her response is i don't have to endure this at all. not even remotely. responsible and beholden to the residents of third district ever new york city. melissa: why go to the bullying place? >> i read the tweets. melissa: do you think, that then everything on, all of twitter is bullying. >> oh, i agree how uncivil folks

are on twitter. they think some husband because we're on the air we disagree don't get along. we do. just because you don't agree with them politically they feel as though they can bully you. on both sides of aisle, not just on the right but also on the left. melissa: but if everything is bullying then nothing is bullying. >> can we return to the original tweet? isn't she the one who tweeted ben shapiro was a man with bad intentions? >> i think what he is trying to do in the debate and embarass her. melissa: no, he is trying to have a conversation about the ideals but he is taking advantage of the fact that she has really embarrassed herself when she thought palestine was a state and she didn't, she made a lot of huge gaffs. didn't know what nancy pelosi's role was. let's move on to the second topic. at least 50 democratic candidates and incumbents are reportedly saying they will decline to vote for house minority leader nancy pelosi. that is her job in case

alexandria ocasio-cortez is watching. if democrats retake the house in november, dnc chair tom perez refusing to call pelosi a burden for the party. dan henninger with all the honey she brings, i don't know she is such a burden. she would have to be a real drag. the right loves to punch at her, an effective target. i don't know. >> i agree with you, melissa. the bottom line she is master fund-raiser and right now in the middle of all these races those candidates out there, democrats need what nancy pelosi can raise for them. but i think there is a legitimate question here about the generational transition is and political transition. there are a lot of gerrymandered democrats in the house, especially younger black politicians, democratic politicians, very difficult for them to break in. there send tire generation of younger politicians, minority politicians that probably should be getting into politics because can't break in because people like nancy pelosi, maxine waters, simply won't go.

and i think that pressure will continue no matter what happens. melissa: richard, do you think that is true? >> i'm trying to figure out what african-american candidates he is talking about. look what is happening in georgia. we have african-american woman, young, nominee for the democratic party. in florida you have, for governor, florida, you have black african-american democrat who is very, very formidable candidate could be next governor for the state of florida. i think all across the ticket. you're seeing minorities run and seeing minorities win. we have minority laura underwood illinois, veteran somebody is running. i think that argument is a farce. melissa: happy friday. david: they're running away from nancy pelosi as fast as they can. melissa: maybe she didn't mind. i don't know. for the good of the party. david: going where no spacecraft ever gone before. nasa set to blast off on mission relatively close to the sun. still several million miles away. we'll take you live to cape canaveral coming up.

president trump sounding the alarm over chicago's ever increasing murder rate. my next guest is calling for trump's help. la shawn ford, democrat from illinois next. >> no reason in million years that something like that should be happening in chicago. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia.

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now that you know the truth... are you in good hands? >> we had 63 incidents last weaken and 12 deaths. bad stuff happening. that is bad leadership. david: president trump talking about chicago, slamming mayor rahm emanuel as number of violent crimes continue in the city. this past weekend 74 shot, 12 killed, one. most violent weekend for the year. total number of people shot in chicago, a staggering 1785.

my next guest says chicago needs help from the president. joining me democratic state congressman la shawn ford. the matter of fact your mayor says chicago should be a trump-free zone. to which you say what? >> i have to tell you, thank you, fox, for making time for me as a democrat to be on the show. david: very important. >> i want the mayor to know, that chicago is one of the donor states, illinois, i should say is donor state for the country and we get less money back into, to throw away the opportunity to meet to work with the president is shameful. illinois is 48th in bringing money back to the state. david: what is it, can i just ask you, representative, what exactly is, do you think the mayor is doing wrong? because clearly things are not going right in terms of crime. >> the bottom line the mayor is focused right now on law

enforcement and bringing more police into the communities in the city where we have a consent decree where law enforcement hasn't been trained to work in those communities. instead we should be working this is the business, fox business, we should talk about economic development in those communities. there is gentleman named dee nash in chicago, talk about hammers instead of guns. we could bring drillment -- david: i used to teach junior high school in cabrini green, one. poorest areas. that had a lot of city government in it. it was disaster, i'm just wondering if the focus should be rather on these elements of trying to revessel certain parts of city, just having a zero tolerance for any kind of crime? that is what changed things in new york. new york city, by the way as you probably know, we went from 2245

murders in 1990, down to extraordinarily low 290. we had an 87% decrease in the number of murders specifically because we focused on crime. >> yes. david: having zero tolerance for the small crimes, to the middle crimes, to the big crimes. and it worked. >> absolutely. i am going to tell you, i was born in cabrini green, what made that community safer is the development, opportunities, vibrant over in cabrini right now because government and private sectors worked together. if this mayor decides to work with the president, we could bring economic development to the west side. we're cutting our nose to spite off your face. we don't want to work with the president and the labor department. we don't want to work with the president and bring all of the resources that the federal government has to offer. it makes no sense for chicago to be a trump-free zone. david: quickly. >> i am calling for, for the mayor and the president, we must

stop the fighting and we must have a cease-fire as it relates to -- david: doesn't sound like there is much of a cease-fire between those two guys. i'm wondering some of your colleagues suggested the mayor should actually resign. do you go that far? >> well there is going to be an election. i think what the mayor should do be responsible and do what he has taken an oath of office to do, help keep the citizens in chicago safe. that means that he has to do everything that he can to work with the president, work with the state, work with people that can help there. is no reason for the mayor of city of chicago it not work with the federal agents and bring resources back to chicago. david: representative ford, i strongly suggest, i know you've been looking around the country for examples that work, new york is one of those examples. it was an amazing turn around. i lived in this city for the past 30 years, so i saw it happen. i strongly advise you to take a cue from what we did here.

again our hearts and prayers go with you. we hope you're able to work things out and bring this horrible crime rate down? >> thank you so much. and i will, because i'm working with a contributor gee yawn know caldwell. you have great contributors -- gianno. david: we had gianno on, he is a terrific guy. thanks for being here. new york city mayor bill de blasio has been attacking uber, lyft and other private transportation companies but public transare pourtation in this city is collapsing. subways delayed without any air-conditioning. buses don't show up. never ending public construction projects double or triple travel time. the mayor may hate the private sector even liberal new yorkers now agree that the public sector is lot worse. i'm sure melissa can agree with that. melissa: that is true. where markets end the week, the dow and s&p snapping a five-week winning streak for stocks,

dragging the blue-chips lower. boeing, 3m. goldman sachs, ibm, these four, responsible for all of the dow's declines. look at that. david: preparing for a blue wave. why drug companies are making changes now for the potential rise of socialism. we're getting steve forbes' take on all of this coming up. melissa: plus north korea threatening to derail any progress made from the talks with president trump. anthony tata responds. that's next. ♪ what matters to you? you got a1c, heart, diet, and exercise. slide 'em up or slide 'em down. so let's see. for most of you, it's lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk of a fatal heart attack or stroke. jardiance is the only type 2 diabetes pill

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melissa: north korea throwing a wrench in the plan. the rogue regime threatening to stall the process of denuclearization if the u.s. continues to enforce calls for sanctions against the country. here is to react an any tata, retired brigadier general, author of the book, dark winter. thanks for joining us. what is your take on where we are in this progress right now? >> melissa, i see the tension between diplomacy and applying maximum pressure. why we want to keep maximum pressure on north korea so they do everything we're asking them to do, chairman kim's position i have returned remains. i have begun dismantling nuclear sites. i have a meeting on monday between my generals and south korean generalses, reduce the sanctions or eliminate the

sanctions. this is information war. you have military, diplomatic and economic. chairman kim says we have a deal. i'm living up to my end of the deal. from his perspective the united states perhaps at the second or third level staffers that are going back and forth are not consistent with what the president and chairman kim signed. melissa: but, at the same time though we keep seeing these reports he is continuing with his plans to build other weapons. he is continuing at other installations, that, you know, really, all they have gotten so far is the hostages. that is great and returns were remained and steps towards denuclearization haven't been significant. is that the wrong way to read this? >> i don't know if it is the wrong way, we don't know what is real right now. that is part of the issue. that is what secretary of state mike pompeo is really driving at, we need people inside

north korea to verify that progress is being made. that is where the real rob is. that is the next step that needs to be taken here, get inside of north korea and verify the denuclearization because everything else is important. the remains, of course all of that. the key is to have a a denuclearizationed peninsula. melissa: in response to new sanctions put in place by the trump administration over that nerve agent ating that on a former spy in the uk. russia's prime minister calling it an act of economic war. what do you think about their threat to retaliate? how meaningful is that? >> i think it is meaningful. i agree it is again, as i mentioned this is an economic lever of element of national power that we are applying against russia for using chemical weapons to kill or try to kill people in the uk. and so it's perfectly legitimate what president trump is doing. it just goes to show that he is

indeed tough on russia. and russia is seeing this. it will impact 70% of their economy when these sanctions kick in. 40% of their workforce. it is about national security type goods that can be sold to other countries. >> what kind of threat -- when they say they will retaliate, what form does that take? >> i think it is an economic form that it is going to take. perhaps there is some oil issues that they can apply against us but there is really not a whole lot that they can do. melissa: not a whole lot. >> a lot of it is bringster in my opinion, the president knows he has the upper hand. melissa: retired brigadier general anthony tata thanks for joining us. we appreciate it. >> thank you. david: you think you're braving heat here, wait until you hear nasa is on a mission to the sun. how close an you actually get to our sun? we'll take you there with details next. ♪ your insurance rates skyrocket after

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melissa: a moment in the sun. nasa's parker solar probe headed on humanity's first-ever mission to the sun getting as close as four million miles from its surface, closer than ever before. phil keating is live in cape canaveral, florida, with the latest on this historic mission. phil? reporter: absolutely, melissa. this first of its kind mission into the sun launching just about 10 hours in the pitch black of night and the solar probe is going to be flying into the sun's corona, its atmosphere at 430,000-miles an hour? that is faster than any spacecraft has ever flown launched from earth. the pad 37-b, united launch alliance is on the pad with five booster rockets. it is one of most powerful

rockets on the planet and needs to be as the sun on average is 100 million miles from us. this is humanity's first mission flying a space craft into a star. in this case it is our own, our sun. when the parker solar probe gets there, it will zoom in within four million miles into the sun's burning corona, the zionists are banking, specially designed carbon heat shield will protect it from 2500 degrees. on board the probe is multiple cameras and scientific instruments send back real time data of stuff we only previously studied from afar. the expectations here globally are enormous. >> my understanding our star works we can explain how other stars work. they have interstellar winds. they have stellar storms. there may be planets orbiting them that could actually be habitable. reporter: solar probe will get to the sun over seven years, sling shotting around venus seven times using gravity.

3:33 a.m. eastern time. that is the launch time. so you can be able to see it from miami up to southern georgia. just have to set your alarm, wake up, walk out side. melissa. melissa: seven years. wow, thank you, phil. very cool. david: long term. truck companies sounding the alarm against medicare for all so-called, but is the industry that relies on the government for so much of its revenue the best messenger against socialized medicine? next, steve forbes, forbes media chairman, is here to respond. ♪ [music playing] (vo) from the beginning,

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david: sounding the alarm. the nation's drug and insurance companies plan an ad campaign warning of dangers of socialized

medicine as more democrats take on the medicare for all slogan. are these the right mentioners after years of cooperating and subsidies from the government. steve forbes is here. dismiss the idea of socialized medicine and a great university just did that this week a great study done on the medicare for all on socialized medicine finding out it would cost $32.6 billion in 10 years. that is entire budget, george mason university. you would have to eliminate everything else from what the government does from defense to social security, if you just wanted socialized medicine. >> even worse the quality of care goes down. innovation goes down. europe was a font of new medicines. went whole hog in socialized medicine, '60s, '70s, '80s, we're the great font of new medicines and medical devices f you get government control, that goes out of the window. we'll not get better health in

the future. david: i was a piker. i said 32 billion, $32 trillion. >> doesn't matter how many zeros. david: drug companies and pharmaceutical companies made deals with the devil over the years in terms of working with the government and working with politicians who want to increase the role of government in health care. are they best messengers against socialized medicine? >> betting fighting it than making a deal with the devil because the political constellation was with them. back in 19900 when you were born. david: thank you. >> in 93 and 94 battling hillary care, they were on the right side fighting it, and i'm glad they're on the right side fighting it. if you want innovations and better cures, this is not the way to go. david: the gop famously failed

in the first year and a half of the trump administration to get rid of obamacare. president trump is trying to tweak it through regulations or deregulations in many cases. is that going far enough? >> they are doing what they can, offering short-term insurance policies so you can get affordable insurance policies, instead of the disasters on the exchanges, but what they should be pushing for november elections is health savings accounts for all. remove all the restrictions. even if you don't have a health insurance plan you can set up a health savings account for daily, routine expenses. go with that. treat it like ira. have something exciting to put out there. >> steve, i want make a switch to trade. you're very much of a free trader. you've criticized trump administration imposing tariffs, threatening to do well. t.j. rodgers, great libertarian you know well. >> sure. david: one. free market guys in silicon valley, he actually came out in support of what some of trump is

doing with regard to china. let me play the sound bite of him saying that, get your reaction. >> you think china blinks first on this? >> i do. it is simple. our trade going to them is this big. their trade coming to us is that big and basically if you cripple both arrows the big arrow is going to get crippled more, more dollars and they are going to have to blink. president trump said that easy to win a trade war. we'll see but, that's the reason for it, asymmetry of trade. david: t.j. says the u.s. will win on this what do you say? >> not so fast. they may be hurt. we're already being hurt as well, if we go from 50 billion to 200 billion or 500 billion. remember, they buy a lot of our securities. there is a lot of foreign investment. we have these elaborate supply chains will get upset. this is going to go beyond just people directly affected by trade but knock-off effects on companies that deal with

companies affected by trade. we are seeing it in the farm belt. maybe they will get hurt worse than us but we'll get hurt. putting sales taxes on american people, american businesses not to way to deal with china trade abuses. david: i know. we have to stop them from their trade abuses. >> we can't go it without hurting ourselves. david: great to see you, steve. have a nice weekend. melissa. melissa: we all grew up wanting to win the golden ticket from willy wonka, you remember that? there is an adult version. i think it might be even better. we'll tell you what you can win next. ♪ where the similarity stops . if you're on park street in reno, nevada, the high winds of the washoe zephyr could damage your siding. and that's very different than living on park ave in sheboygan, wisconsin, where ice dams could cause water damage. but no matter what park you live on, one

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much. you and i are both mcdonalds fans. melissa: i love it but to a week david: i know but it's a treat. bullies what if you are older? david: it still sounds good. the virtual collapse of the turkish currency for the russian market have been in disarray and we have had sanctions but on the night you have the lira collapsing. they are very likely not to work at all. >> it's important to work in concert with our allies. >> i don't know how long this will last. we have an economy moving the way it is and you apply the sanctions you see what's happening in the turkish market overnight and you see what's happening in russia with her market overnight. you get china and russia to cooperate and you see what's happening as you mentioned 15 months ago. >> iran's economy is on its knees. the