mondays. a lot of parents are what? now i have child care to worry about for a monday. stuart: i missed it. how much are you going to charge any should have done that we'll have him back, that is a promise. time is up for me. neil, it is yours. neil: thank you very much. we're monitoring developments where we're busy about getting china and u.s. back on some trade common ground. might be wishful thinking. the fact they're talking for the first time, really think about it since last spring could be a positive constructive development. the chinese asked for this meeting. they want to hold off $200 million in additional tariffs and goods would cover everything china makes or sends to this country. it is in china's interests to do that and there is a good deal of pressure we're reading in the asian press how xi xinping is under pressure even though he might be leader for life. there are some caveats to that. you have got to settle this. that is presumably the read. one of the reasons why stocks

are up as we get ready to celebrate what could be the longest bull market in american history as of wednesday. unless we have a 20% fall by then. what have you got? start placing the bets right now. jonas max ferris, real clear politics political reporter kaitlin huey burns, last, certainly not least, moody's chief capital markets economist john lonski. let's get your read on the talks, what you expect of them. very low expectations own both sides. they're open-ended. anything is up for grabs. talk about currencies. everything is fair game. >> low expectations but time something really important because we're heading into midterm season after labor day. more campaigns want more certainty from their constituents. you hear the president talk about the need for talks, to talk about the talks. as a way to calm anxieties to

say look we're working on it. so many big question marks. uncertainty dues without direct answers. neil: what if they go back, talks are going on, we'll keep this going, but they don't have any, even outlines of a deal? >> not good for markets. more so i think for china. you know that market for the year-to-date is down 18%. that is the shanghai composite. by comparison we're up 7%. both sides have incentive to show some signs of progress. neil: do you buy what the president says the chinese have more of an incentive? >> i think that is very true. the chinese economy is underperforming. it is underperforming in terms of industrial production, retail sales, capital spending, whatever the equity market is doing poorly, definitely. neil: jonathan, what do you expect of these talks? anyone can be brought into them. but what do you think? >> i think both side will win or

say they won. nobody knows what winning or losing in a trade war looks like. we could say we -- neil: we have to fix your mic, my friend. maybe do that there. either lost or put it up on ebay. >> i got it back sort of. >> good thing this is not live. neil: no, a chinese microphone. do you get a sense that they are close to doing something? >> i think they're close to starting to sin it as greg sis live that they're win -- spin it aggressively that they're winning. neil: people can't explain what winning a trade war other than free markets and a textbook fantasy. the consumer doesn't know. they will see pain on consumer products which is the nextwave of tariffs end products, not steel but gadgets you like or walmart on the shelves. somebody will be mad.

who will spin that as a negative? democrats going to take china's side? poor chinese companies can't sell cheap now to america? trump is very good, look i he made north korea look like a win. he can make this look like a win. is it a win or not a win? only real measure whose stock market falls the most is the loser. to that point we're for some reason up china's down. at this stage you have to say our companies are winning that doesn't mean we'll not fall if we don't get any improvement here. we'll fall less and trump will say we're winning. neil: isn't that the way he cobbled together the south korean accord? it wasn't great but different than what we have, and they moved on? you can claim victory without it being a huge victory but it is different than what it was? >> i think what trump wants is some progress on intellectual property rights for china. greater for techs for u.s. companies so they don't have to surrender their know how. neil: how do we hold them

accountable? they lie and cheat alot? >> if they claim they agreed -- neil: they can claim they don't even do that. >> they will have to go ahead and admit to their faults, say moving forward that they're going to be less demanding getting know-how from american companies so the companies can gain access to the markets. that will be a victory for trump and may not be that costly for china. neil: the proof will be in the pudding whether they make good on that. enough time might slide before we see the chinese cheating on a commitment like that but it doesn't matter before the midterms. what do you think? >> why gaining control of the narrative is so important to this white house. you do have his base of supporters who are very much with him. he is still very popular among republicans, even when he makes these kinds of moves that are against what republicans have stood for in terms of trade, raising more uncertainty in a time republicans are feeling good about the economy. that leave as big question mark.

neil: they're very afraid, to take them on. scott walker, of wisconsin, no fan the way the president is targeting harley-davidson, even boycotting them but he says this will all work out. >> there is certain amount of trust you have in his base, hearing from people in tennessee, wisconsin, other place, they don't like tariffs and retaliatory possibly measures that they would react to negatively with anybody else but with this president they have a little more leeway. neil: they have learned to, we get nervous about this stuff but it works out for us. we'll give him the benefit of the doubt. >> what is especially important about this week's negotiations we show signs of progress. perhaps that also implies that progress will be made regarding negotiations concerning nafta as well as with our european trading partners. those are, you know, that has many people in the rust belt nervous. talking about harley-davidson and the like. neil: you know what i think will happen before any of this? we'll get a mexico accord before

any of this. now i wonder how that would change things? certainly pressure is putting on canada but would it add pressure to china or what? >> that was sort of the point of tpp. to do deals without without china to marginalize china. up interest would essentially do one-on-one with him facing off other countries, "art of the deal." would look like china is being left out of the global trade game. they need to be a little bit left out -- they will not come out and say the espionage, identity, i.p. theft, we will stop doing that if you don't stop tariffs. neil: i was being facetious, how do you go and address this problem without first having to admit you know, you got us dead center, we're cheating, thieving liars? >> it is hard to win because they won't admit to the stuff they did. but u.s. companies agree to hand

oversee credits the production trade, whoever it might be. neil: to do business there. that was, apple proved this again by saying you know, these 25,000 apps were ticking off the chinese government, they will disappear. we'll not have them. we still kowtow to the chinese. >> what is interesting the president made a lot of unilateral trade deals. we haven't seen them in effect -- neil: there is only unilateral to be fair by definition with south korea. the european one was en masse and promises on oy soybeans. countries can't do. >> pulling out of tpp, it didn't really -- neil: that is his track record. 1-0 with south korea. i'm not minimizing it. it gets back to my argument, is that what he is after, something that can look like we didn't have this before, now we do, not across the board but it is a step? >> trade is becoming fairer.

he can make the statement with confidence. that is what he wants to do. the only problem with thatdy, we had these transactions done this way before, no. >> he is showing some action, putting some energy into this in the past where it was ignored, it was hidden from the american people. they might appreciate that politically. however i think the benefits for many new trade agreements are not going to be easy to notice immediate. thus they may not be much of a political benefit. neil: i was raising that, how you feel with that, jonas, the problems or shallowness of a potential sham after trade deal. i'm not saying that it would happen but you really wouldn't know that until well after the midterms, by which time the republican cost capitalize on it. >> this is trump's trade war to play because he can sell it however owe wants to sell it. it will not be very obvious. unlikely obviously a failure or a complete crash and economy goes into the toilet and market

goes down 400, that will probably not happen. neil: market was celebrate uncertainty going away. definitely the pall and the cloud is gone. >> more jobs and capital spending without a doubt. neil: what would the political ramifications be? >> for a trade war? neil: for resolving this or at least having what looks like a pyric victory if that is what it comes down to? >> i wonder how much is baked in terms of how people know how trump operates. neil: they have been up ahead of this for the most part? >> thinks numbers are relatively stable, even though they're low nationally and high among republicans and relatively stable throughout his presidency plus or minus here and there. i think this kind of uncertainty is baked into some extent. neil: we should say right after the midterms there is the big apex summit where president will meet with xi xinping.

you would assume by then they want something or no? >> definitely. it would look great. it will not help you out in the midterms, not at all. perhaps the situation still with north korea. they will be thinking about that. neil: yeah. >> trump is winning when he seems like he is being a bully. no one will take china's side. only time he stumbled when he didn't look like a bully with putin. when he is acting like a tough guy pushing people around he always acts overly globalist with, a lot of people like to see that. whether it makes economic sense. neil: he is never a tough guy to their faces? >> he caves a lot. oh, did he seem that tough with north korea at end? neil: when you step out of the studio i will trash you. but to your face, hey, good job. no. wouldn't do that much. john, i would do that, no. we'll see what happens here because we don't know. but, again they are going to be busy this weekend. kept it open-ended we're told. even idea of a return flight they held off on that, the

belief, lower underlings can become to broad agreement to get approval on the way up. it does bear watching. we'll continue watching. we're up 111 points on the dow. who knows, anything can happen. usually does. charlie gasparino on new details he is getting on tesla that go way beyond the soap opera drama last week and i mean way beyond.

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stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. neil: tesla shares getting hit again on these these funding fears whether it is really chief spokesman, in the market survives. i'm talking about whole battle back and forth whether elon musk lives to be the patriarch of this company is anyone's guess. charlie gasparino following other more basic concerns like money and funding and who is behind what, and when. >> money, funding the sec investigation, which this could be an interesting week. couple things we're getting from sources close to the tesla legal team, the investigation is over whether elon musk put out a false statement, materially false statement which is against securities laws, funding is secured, funding is secured for his plan to take tesla private

at $420 a share. all indications are that the funding has not been secured. hence we have rapidly developing sec inquiry that moved to a formal investigation. neil: was that remark triggered it or the tweet? >> mainly. there is other stuff. we will get into that in a minute. tesla legal team believes the sec is pretty much under tremendous pressure to expedite this, given all the publicity that has come on this thing. they are moving fast. they're under pressure to move fast. and, i, from what i understand, this week could be a pivotal week. musk could be interviewed this week. not saying definitely until it happens. by the sec. neil: okay. >> there could be depositions taken or at least interviews being taken. and, while, sec officials face pressure to act swiftly, one issue they're cognizant of, i'm getting this confirmed by more than one source now. they don't want to blow up if this deal, really is happening with an investigation, something

good for investors. if it really can happen, that you can get funding security for $420 deal, obviously given where the stock is trading right now, right at 300 would be a great deal for investors they don't want to blow it up by hammering this guy. neil: by the way i hate to upset, the 4 20, what is the magic of that figure? >> i don't know. that is one of the problems here. he said it had something to do with marijuana, what does 420 mean in marijuana speak? i don't watch. maybe you know. neil: i don't. marco? reason why not to get -- that was a financial level needed to make it happen, i mean he has 20% of that, 70 billion-dollar concern. >> wanted a number high enough to appease investors so you would squeeze -- neil: get on board. >> squeeze the shorts. on top of that, marijuana had

something to do with it, whatever, according to the "times," if you read the "times" story. that is what they said, yeah. don't bogart that joint, my friend. neil: i gotcha. jack dorsey making news. another guy associated with the company. he claimed i have a personal liberal bias myself. i try not to have the company -- paraphrasing here. >> right. neil: it is a reminder how two faces of the respective companies are often seen as the company. yet their comments get them into trouble. very difficult case. >> i don't think jack dorsey is close to the trouble that elon musk is. jack dorsey that you know him -- neil: he is admitting the obvious. >> he is very circumspect guy when it comes to financials. take it from me. i had some interactions you ask him about things like twitter will be bought, he has a quick dodging, not to give you anything. i will say this -- neil: he isn't stream of consciousness? >> no, not at all.

he is very locked down. one of the interesting things i find about dorsey i find, trump is running around saying oh, there is bias against conservatives on twitter and social media, twitter. i think dorsey recognizes that there is a silicon valley bias against conservatives. i also believe, from my reporting that he is taking steps to address that. that he is looking to address that. neil: person i know who admitted his own bias and tries not -- >> there you go. neil: only one i know is -- >> that's a good thing. i know he is reaching out to conservatives, know it for a fact, media types, congressman, how to make twitter a more inclusive place for conservatives? why is that? not because he wants to make the world a better place, maybe he does but there is also a business proposition. conservatives use social media a lot. when i say conservatives, i'm not talking about alex jones, congressman, media types. conservatives use that, average people. it is a way around the mainstream media which a lot of

conservatives believe is biased against them. so he would be, just from a business standpoint he has to embrace conservatives. neil: but he is more or less acknowledging the obvious there is a bias out there. which is fine. >> what is wrong with that? as long as you take steps. neil: i'm just conveying what he said. he also said he hates charlie gasparino. i thought -- >> i think he is a good-looking guy. have you ever seen him? by the way the women love him. neil: are you encouraged by the fact that he is acknowledging the elephant in the room and wants to do something? >> absolutely. neil: that is all i'm saying. >> i think he is ernest, good guy and businessman and company is doing pretty well. i take freight offense you mentioned elon musk and jack dorsey in the same -- neil: jack dorsey, elon musk, who would you trust your money more? >> personally, oh, god why are you asking me this? i'm trying to be objective here. neil: i'm saying. two different parts -- >> they are two different companies. neil: i understand that. >> twitter i'm not sure, i'm not

sure twitter's long term business prospects. tesla has emerging technology. i'm not sure about the way it is being managed. neil: so you're dodging it? >> i have my money in a money market fund. that is the stock i will recommend. money markets. neil: buddy, thank you for breaking all the news. he is constant, more news we'll follow very closely. speaking of all this hyperactivity and who is doing what to whom, you know a lot of people tend to think that the russians were involved in the last election. they will be involved in this election. our next guest says you know, whatever you think about russia, worry more about china. bush 43 writer ned ryun. he is watching closely. uncannily prescient about a number of big developments. when he unveils something i pay attention. ned, what are you saying here? forget about any trade tiffs with china, worry more about what? >> i'm saying neil, i wrote a piece for fox news last week i

said we should think about smart home devices and internet of thing device. this is a trend that will not stop anytime soon. there are eight billion right now. going to 20 billion by 2020 according to some estimates. one estimate said 70% of the american homes, 2025, will have smart home internet of things device. smart fridge, smart thermostat, all these things and i think the question we need to ask ourselves, these devrys are great, make our life better, where is all the data going being collected by these devices who are they plugged into and who is owning the platform. neil: how do you know the chinese do? >> one of the biggest internet platforms is offshoot of alibaba. tulia, they get 300 million more in new round of funding. we need to start asking where are our devices being plugged into, who controls them?

do chinese nationals control the device my appliance is plugged into, because they're being open and honest what they're doing with the data. your data might be accessed by third parties. your data might be stored in overseas facilities might be in beijing. they say this in some of the disclaimer language. we need to ask ourselves moving forward in the conversation. china is trying to displace us at the center of the world economy. they want to compete with us. what are we doing with the private data of american citizens. we need to ask do we want the world's largest authoritarian police state having potential access to our private data because they have a close relationship with a platform controlled by chinese nationals? i think it's a question we have so start talking about. neil: nowhere is that on any of these various trade talk agendas. that worries me. >> that's right. it should worry us. i think again as we move forward, this trend is going to accelerate, neil. we're going from 8 billion to 20 billion of these devices in the next couple years.

overwhelming majority of americans have something like this in their homes. where is all this going? the great thing, neil, a lot of american alternatives to this. i think part of these conversations we're having with the chinese we need to start talking about wait a minute, we're not comfortable where the data is going. we want to encourage american consumers, but more importantly american retailers to be selling devices plugged into american-controlled platforms. this is a trend that we'll have to start talking about a lot more. again, data is knowledge. knowledge is power. i don't want to be handing over my date to platforms controlled by chinese nationals. neil: they will deny that they will deny they rig their currency or rig their markets to do anything to pressure u.s. businesses to give away their secrets. >> of course. neil: they have a long history of denying stuff like this. i don't see that changing. >> but they're being very open about this, neil. this is one of the things i started asking questions, doing research, tua is not being shy about it. they're doing that in the

disclaimer language. your data is being accessed by third parties, might be stored overseas. hard to estimate how many devices plugged into tua right now, but when you get $300 million of new financing they recently got, they will make a play for a lot more smart home internet of things devices. we need to ask questions. when somebody goes to retailer, target, walmart, best buy, start asking questions where is this being plug understood. if you have to pay a dollar more plugged into american iot platform, it worth the money. neil: ignorance can be dangerously blissful. thank you very much, my friend. ned ryun. following this stuff. way ahead of the curve. it's a legitimate concern, whether you want to politicize it or not it is a concern. it is not on the agenda, but maybe to ned's point it should be. meantime how is this for an event at the white house scheduled for 3 p.m. eastern time, 2 1/2 hours from now.

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♪ ♪ neil: all right, it's really a white house event to honor i.c.e. and to simply say that we will protect the immigration and customs enforcement even though many democrats say they want it gone and the sooner the better. to thomas oman on what he makes of the white house push to salute immigrations and customs officials of i.c.e. and to give them their due and their day. when do you think of all that? >> i think it's one of the many reasons why president trump is such a great president. he talks the talk and he walks the walk. i've been with him on numerous trips to the field. he sits in a room with these american heroes, he recognizes

them as american heroes, and he tells you finish the president of the united states and says i have your six. i've never seen that in my 34-year career, that a president is going to stand shoulder to shoulder with these men and women and defend them against the attacks from the far left. neil: tom, good or bad, you do elicit reaction. a lot of people just commend you for your service, but invariably i get e-mails, you were that guy and you could have stayed on, in fact, they wanted you to stay on, and you opted not to. why? >> well, first of all, i did retire in january of '17, and the day of my retirement is when i got a call from secretary kelly asking me to come back and fill that chair for a little longer, and i did that. again, if i'm nothing, i'm a patriot that will serve the president of the united states. i was there for a year and a half, and i thought i could do a lot from the outside. look, there's certain things you can't say or do -- neil: right. >> i have not left the fight. i'm working very hard to defend the men and women of the border

patrol where i started my career in i.c.e. i'm doing a lot from the outside i couldn't do from the inside. i certainly miss it, i certainly would love to be at that event to salute the men and women that put their lives on the line for this country every day. there's certain aspects i miss, but after 35 years, i thought it was time to spend more time with my wife and children because they've sat in the backseat for way too long. neil: that makes sense. obviously, the president is going to be talking more about his acting director who's in the role right now and the fact that he's come out very strong, like the president, to have i.c.e. continuing what it's doing and not shepherd these out to the services that were there before i.c.e. so if you could update me what we did before i.c.e. came along,ing because to hear kirsten gillibrand and others, elizabeth warren, bernie sanders, all of them saying i.c.e. has outworn its usefulness because it's gone too far, who did this stuff prior? >> well, the immigration naturalization service did some

of the work, and customs did the other customs enforcement work. but, you know, people like senator gillibrand and governor cuomo and ocasio-cortez and is all those other un-americans, in my opinion, they want to vilify our men and women that defend this nation. especially in new york. if you look at what i.c.e. has done in new york over the last year, we took over 5,000 criminals off the street in new york. we have spent millions of dollars fighting the opioid crisis on the border. i.c.e. officers have done more for the safety and security of new york than either one of those two people did. by combining the forces, it made sense. they took over 200 laws and statutes and combined them into one. when you arrest somebody for a dug -- drug violation, they can also charge them with administrative action against illegal immigration status. it manges sense. it's a -- it makes sense. it's a good plan. and you've shown the success under this president twice as

many ms-13 arrests over the previous administration, more gun trafficking investigations and more smuggling investigations, more child predators taken off the street. i mean, i.c.e. is a powerful machine that's helping to protect this country. neil: all right. when the president's very close, as he seems to be, tom, to getting a nafta deal with the mexicans -- so far not the canadians, but the mexicans -- how would that potentially change things? if there's a chance of the mexican economy to approve, you could argue it would make i.c.e. agents' jobs a little better if you were crossing the border because they don't have to. >> right. look, we have a great relationship with the government of mexico, i did when i was there. the more they can do to stop the central american flow to come up true their southern border, it'd be great, and we ought to be working with them on that. you know what? it's not going to get a lot better until congress closes these loopholes like these families come across. we have asked congress fix the settlement agreement, fix it

through legislation, and there would have been no family arrests or separations. so, you know, if these congressmen want to blame these family separations, look in the mirror. we gave you the fix over a year ago. again, they don't want this president to have success. they want this to be an issue in november. it's all politics -- neil: by the latest polls, most americans like i.c.e. doing the job it's doing by a margin of 7 p, close to 8 out of 10 voters, so it could backfire on them. >> i hope it does. these are american heroes. these folks get up every day, leave the safety and security of their home to defend this nation. there's over 400 names on that national memorial wall in washington, d.c. of men and women that died in the line of duty. so people like senator gillibrand and governor cuomo, go walk that wall and look -- go strap a rev lahr vest -- kevlar vest on, put a gun on your hip, and go arrest someone at his home where he has access to who knows what weapons, then turn around and vilify the men and women of i.c.e. that you put in

that position and put their safety and live at risk. neil: thomas hohmann, good seeing you again. former acting i.c.e. director. thank you very much. >> thank you, sir. appreciate you. neil: all right. the race for trillion dollar companies, already you've seen apple doing it. others are lined up like planes at jfk international airport. but some get worried about that because they're a little too rich. what if i told you there's a group on wall street that says, what? they're not nearly so rich. in fact, the old models by which we value these stocks, they're out the window. are they? after this. ♪ ♪

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that raising interest rates in this environment is really not very constructive. the federal reserve, as you know, has raised rates five times since the president took office, and the president takes exception of what has happened, that it can nip the progress we're making in the bud here. this echoes similar concerns the president has had about a raising interest rates just as the recovery is taking off and thereby jeopardizing that said recovery. all of this, of course, occurs the same week jerome powell, the chairman of the federal reserve, is going to be in jackson hole, wyoming, talking about the economy and will probably give his first comments, maybe answer questions about the president's concerns therein about rate hikes in general. market watchers dan schafer and our own susan lee. susan, this echoes something he has said many times before, that, you know, and other presidents feel the same way. he has just made it very, very clear forcefully about it, that it's a mistake. how does that affect the fed's thinking? >> well, the federal reserve is

supposed to be an independent policy-making institution, right? but when i talk to traders acorrect me if i amcross, they e halfway through the third quarter, we're probably going to grow at 3.5% for gdp. the strongest economic growth that we've seen in and years -- in 13 years, and the subsectors tell the story. transports for the dow jones industrials, we're up a record 135 points today. goods are moving by trucking, by any means, by railroad, and that is an economic proxy, and it shows you the u.s. economy is growing. neil: you know, this bloomberg report i want to share with you, david, the president said he expected jerome powell to be a cheap money-fed german and lamented that his nominee instead raised interest rates so that he was disappointed. this wasn't the guy i thought he was. what do you make of that? >> well, it's unfortunate if

that was really said. i mean, obviously, i don't know the sources of this whole hamptons event, but i don't think it's a big surprise to any of us that the president has spent most of his life with extraordinary leverage on his own balance sheet and would prefer easy money to sound money. but it's kind of surreal that he sent a tweet over the weekend bragging about the strength of our dollar and then is lamenting the idea of the fed just trying to get to normalized monetary policy. at the end of the day, i don't believe for a second that he expected that whoever he named head of central bank was just going to take orders from them. the fact of the matter is powell does have a difficult decision to make near the latter part of this year and into next year, but getting the fed funds up to a 0% real rate so that net of inflation it's at zero is hardly them becoming a tight federal reserve. neil: all right. and we're close to or at that now. but, dan schafer, it does make you wonder about every move now

the federal reserve makes or jerome powell states because it will be scrutinized under this, you know, this environment where if he doesn't raise rates as aggressively as they'd planned -- i think there are two more rate hikes expected this year, at least that many next year -- then people are going to say, wait a minute. and conversely, if he does, then the president's right and he's overdoing it. he can't win. >> well, the federal reserve is making a big mistake by raising the rates. i agree with president trump. with the amount of debt that's globally in u.s. dollars to try to service that debt, raising short-term rates is going to be a problem. and we could see that, neil, in the bond market with the ten-year and the 30-year treasury yields declining as the federal reserve raises the short end which affects home equity loans, it affects some mortgages that are variable. a quarter percent is a major

move. and i think the fed is raising rates now because they're worried they're going to need to back pedal as the economy starts to slow down. so i really agree with president trump that the short-term rates should not be raised and the bond market's telling us that. neil: well, i mean, i understand what you're saying about debt levels and this would make it easier for those debt levels, but we've had this debt for a while now. we've gotten used to near 0% rates so, susan lee, that's what's got to change. so far it's been changing in our favor. the world still comes to us, both our fixed income markets, certainly our equity markets. i wonder if any of this changes that. [laughter] >> that's a good question. at this point if you look at the price action, i don't think it does because goldman sachs has said, you know, either we get two more rate interest rate cyren'ss -- increases, two to three, it should be above 3,000. so there's still a lot of technical play up there. valuations are not stretched by any means. i mean, take a rook at apple

today, hitting another record high, right? and people are expecting it to be a cash machine. they just started their billion dollar share buyback, and if stock names like apple, amazon and the fangs are still, you know, gaining at this point, there isn't a fatigue just yet, regardless of what the fed does. neil: do you buy that, david? the president should just be quiet, the environment is sound? >> i think the environment is sound, and i do think it's wholly inappropriate for him to be intervening at all because it undermines, exactly what you said, the credibility when they do end up acting. but as far as the comment they shouldn't be raising the short-term rates, that very well may be true. the point is that powell and the fed governors have to make that decision. what the president should be upset about is the bernanke and yellen fed that didn't start this process in 2013 and 2014. that's why we're dealing with this now. that's why they're having to raise short-term rates in the face of emerging market complexity now, because they're so behind the 8-ball.

it's a tangled web they weave when they first practice to intervene. that's what has happened. neil: all right, guys, thank you all very much. i want to passes that along, because that is a bit of a news development. the president is not a fan of the federal reserve raising interest rates in this environment. few presidents are fans of that, they just don't state it so publicly and so repeatedly. we're on top of that. we're also on top of venezuela. it is literally falling apart. keep in mind, this is a country that has enormous riches. all that oil, all that power, all that attractiveness gone in a flash because of a government that promised everything to everyone and ran out of all of that money. and now, and now it's pandemonium. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia.

neil: you know, at first i thought this was a typo, but since the crisis began in venezuela where the shortage of supplies, currency running amok and now 6,000% runaway inflation, more than 2.5 million venezuelans have fled the country, anywhere but there. and it is going from bad to worse as the leader of that country promises stricter controls to get this under

control. everything he's trying is failing. retires four-star general jack keane isn't at all surprised. the thing about it, general, every one of these leaders -- hugo chavez way before him -- this idea you could promise everything even in a country that presumably has the means to pay for it with oil, you eventually run out of that money and options, and the crook erie and -- crookly and thievery makes you run out even faster, doesn't it? >> yeah, it's tragic. this was the richest country in south america for years and was so helpful to, you know, the other countries when they were struggling during the '70s and '80s. neil: sure. >> this is 19 years in the making, neil, as you well know. this is not something that happened overnight. this is one government after another, socialist government, and they just flat, as you said, it couldn't be said any were be, just run out of other people's money. and that is where we are. and this guy, maduro, i'm not an economist. he's got some recovery plan that's coming this week -- [laughter]

that doesn't seem to make any sense. he's going to increase the minimum wage from $1 a month to $30 a month. he's created a new currency because the current one is almost valueless, and he's going to set, set -- [laughter] the value of it at 60 to the dollar. and, of course, that's not going to hold -- neil: yeah, that's not going to happen. what's more, he's demanding these businesses pay these higher wages. they're saying, look, you won't let us increase our goods that we sell, so that's stuck in park. then he goes on and says, well, the government will pay these higher wages, money the government doesn't have because taxpayers don't have it. where do you see this ending? colombia's already are taken in about a million of these venezuelans, but it's strapped. it can't do that forever. >> the humanitarian issue is dramatically increasing. i applaud secretary mattis who's going to send down, you know, a hospital ship, the u is -- uss

comfort, that's got real capability, a thousand beds, a dozen surgery suites. that'll certainly provide some relief. we may send another one on the west coast as well. we'll see what pertains there. you know, the other thing that's happening is you noted the refugees, there's 2.5 million of them that are spread out in various countries. there's also piracy that's taking place now with people going out and just stealing what people have on their boats. and even the coast guard is involved in the piracy. so i suspect the united states working, you know, with the regional countries there could maybe organize something to curb that, because we've got significant experience, you know, operating off the coast of africa dealing with something not quite on the same scale. but, nonetheless, if you're involved, it's pretty tram. neil: real quickly, general, there's a chance for russia to intervene, china to intervene.

what do we do in that event? >> i don't think we stop them from doing what they feel is in their national interest. i think what we need to do is continue to work with the regional neighbors to venezuela and maintain those relationships. the -- this is the region's problem, to be sure. i mean, they're going to have to get some outside experts to come in and restructure this financial situation the way we've done it in puerto rico and the way it's been done in greece until such time these guys aren't going to make any progress. neil: yeah, i think you're right. general, thank you very much. good seeing you again. >> good talking to you, neil. neil: we're mentioning china, also mentioning the trade talks in this country are resuming, and there could be progress. there could. that's another one of the reasons why stocks are up. we'll explain.

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neil: we could have progress on trade at least on early indications for the first time since last spring chinese officials will be here to talk to her. came out of country turkey, all separate problems. but to try to find the parameters they can strike a deal. republicans would certainly hope before the november elections. more likely than the president, and xi xinping, president of china, sit down to talk at apex conference well after the election but progress is eyed closely. edward lawrence with the very latest on that front. hey, edward. reporter: neil this could be a little hiccup in the progress.

behind me are the public hearings for the possible $200 billion of chinese goods that could go under 25% tariff. these hearings last all week into next week i can tell you. 99% of the folks were opposed to extending tariffs on $200 billion worth of goods going moo china. this information from the hearing is die es ifed by the -- did i guessed by the treasury department. chinese are paying steel and aluminum tariffs. then in july, they face $34 billion of tariffs on chinese goods or $34 put under tariff in three days, the second round of tariffs go into effect, $16 billion of goods are under the tariff. sometime after september 5th, $200 billion of chinese goods will see a 25%

tariff, from seafood, to printing ink and beauty products. they believe they can take on china because the u.s. economy is doing so well. indicator of markets from the u.s. and china are going in different directions. that might be one of the reasons there may be a breakthrough. as kneel mentioned, chinese want to talk about possibly ending the trade dispute. on wednesday the vice minister of commerce from china comes here to the united states to talk to treasury officials to lay out the framework for a meeting that will happen in november between president trump and president xi the chinese hope to come to end for tit-for-tat of tariffs. this is about imposing $200 billion of chinese goods imposing a 25% tariff. neil: will anything come out of the talks, get read from market watchers ryan payne, randy watts and our very own gerri willis. gerri what are you hearing? any expectations at all?

>> it wouldn't take much to make the markets happen here. if anything at all happened. not clear anything will. i think at this point both sides want to bring this all to a conclusion. it is in both sides interests. as we know there are winners and losers in the u.s., right? consumers could be advantages, the dollar is strong, allowing to us buy more with our dollars. china at risk especially because the economy he is seeing weak numbers out of the economy. do we get something? unclear, but anything would be a win here. neil: could the markets digest no deal at all? no deal, they don't have a deal. >> coming out the talks this week? i don't think people really expect a deal this week. this is more like a appetizer for the entree that is coming. neil: the entree would be? >> meeting between xi xinping and trump later in the fall. neil: they are expecting something well after the midterm elections is it. >> correct. people want to see is that the

talks are going to happen. we're getting groundwork set for it. people east expectations are not too high right now but they want progress things are continuing. neil: better to talk than not, right? >> the bottom line the market would be higher right now if we didn't have all the trade war rhetoric laying on the markets. if that lifts a little bit, fundamentals are so good right now. neil: wouldn't have to be a great deal by your measure? remove uncertainty of ongoing trade war, could have yielded something is better than nothing? >> reminds me before the election, i remember the markets went sideways for a while. once you knew who would be in office, markets were rocking inch and roll inch. you see -- logging and rolling, you see certainty the markets take off. neil: markets sort it out later? south korea deal cops to mind. it wasn't a great deal.

i'm not minimizing it. will be it along that ilk? >> i was saying why don't we convince china to quit managing the yuan? that would be the answer to all our problems. neil: they say they don't that. >> they're stinky liars. neil: they won't say that they're stinky liars. >> we will. we done that repeatedly. if we allow the currency to react like the dollar does, their goods would become more expensive in global markets. they would become more competent competent -- competitive globally. that would be a solution that costs us nothing. neil: they called the chinese to come to the united states and talk. >> that is good sign we're in the a strong. at the end of the day we're in a position to probably win this negotiation. >> trade is very asymmetrical

with china, right? china sells us $524 billion in goods, we sell them 188. really they have a lot more to lose than we do. the fact that the trade terms haven't been that great over the past, anything we get out of this is really an improvement from where we are now. neil: how will it help the economy and or the markets? >> markets don't like uncertainty. i think any resolution we get this fall would be positive, kind of like ryan said earlier. neil: you don't see it reflected in the run-up we've had prior and it sells off on -- >> i think run-up is due to the fact earnings are so strong. earnings were up almost 25% last quarter. estimates are going up. the economy is doing quite well. when we think about the market, earnings are double dirge it for this year and next year. there are a lot of good things happening in the u.s. economy. >> shanghai is down 25%. they're under pressure in a variety of ways. broadly reinvestment in that economy dramatically lower.

there is a lot of pressure on china to do something. i wish they would take care of their currency. think that would be a easy way to solve the problems. >> they are going to have to now. in 2015 when they devalued the currency they had a big flight of capital. they had to put capital restraints in. they import manufacturing parts from other parts of asia. that is expensive. their currency is so loy. a lot of debt is in u.s. denomination. that is increasing as well. my guess the currency will start stabling and probably start going up which would be a good sign to buy this china as well. neil: won't our companies still suck up to china? apple pulling 25,000 apps that the chinese found offensive, no matter what deal we sign we'll see these guys sucking up? >> china is a very important market for apple. that is about 20% of their revenues. they did 17 billion in the app store alone over there. that is a market they can't ignore. with regard to the apps they pulled recently, those were

mostly gambling and lottery apps, which the chinese government told them they didn't want to see on the app store. maybe apple need to clean a little bit of that up. neil: even third and fourth party apps. apple said it was no skin off our nose? >> don't forget apple employs a lot of chinese where they manufacture their iphones over there. so we're both dependent on each other here. not just apple is dependent on china. apple is dependent on china as well first we don't have an accord or some sort of progress before the midterm elections that could be a problem, right? unless it's to your point the confidence is that we're leading the one? >> i think zero progress, looks like those talks in november are not going to happen that would be very negative. i think a little bit of more positive talk out of both parties and it being clear they will both sit down and meet in november, i think that is enough for the markets. neil: xi xinping, who is leader for life, something like, that right? >> right. neil: even leaders for life have

to look over their shoulder, right. >> oh, yeah. oh, yeah. trump is acutely aware of that. he is strong-arming here. neil: you guys thank you all very much. we're up about 99 points. we'll have a little more on this bloomberg report that the president has been complain about the federal reserve again, the guy he selected to lead the federal reserve surprised him moving to continue to keep interest rate hike pace going from janet yellen. he was letting them know, at least at that gathering in the hamptons where everything happens as you know, they never do these things at the jersey shore. but at least there, he was aghast what they're doing. he left that meeting in the hamptons to go to new jersey. we'll have more after this.

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neil: all right. the president has been a critic of social media saying it's funny how they're always trying to work on bias on the right-leaning sites. not so much on the left-leaning ones. in other words anytime they're trying to rein something in be the president says always conservative opinion, never liberal opinion. jack dorsey of twitter fame acknowledging he is himself of a liberal bias. he tries not to let it interfere with the postings or views of those who use twitter. fox news contributor, kat timpf,

on trying to correct this kat, they correct what they don't like. does the president have a right to fear it? >> i think he does have a right to fear it. humans are humans. we all have our own biases. very difficult for us not to let our biases not impact what we do. that is our jobs. if twitter is your job, if you you have a left-leaning bias, which jack admitted company does, hard for the biases not to do your job. that is the way the human mind works. neil: what would set it off? you come up with sophisticated algorithms to deal with this sort of thing. you catch words or phrases or combination of words, that is one way to talk about explosive bias, or ones that is threatening but that is hard to do too? >> it is very difficult to do. that's the question here, what do we actually do about it. i'm not somebody who thinks there should be government regulation. i'm somebody who was a little concerned by president trump's

tweet saying we won't that happen. not so much concerned but maybe confused this is private company. they can ban mover they want to ban. there is no constitutional right to go on twitter to tweet your feelings or opinions or thoughts, whatever you want to tweet. that is the confusion. i think public pressure will be very important here. as conservatives continuing to speak out about the fact they notice this. they are concerned about bias. neil: you were joining me on saturday on the weekend show one of the things we got into was the fact that even bill maher, no fan of some of the real heated and virulent talk says that to shut any of it down is a dangerous direction to go in. and it is the kind of thing that will only compound the troubles, whether you like it or not. what did you make of that? >> i completely agree. i disagree with bull mahre on a lot things -- bill march. neil: talking about alex jones. >> i completely agree. what are people so afraid of giving everyone a right to speak and everyone a voice?

alex jones is an awful human. he said absolutely awful things. that is bit of an extreme case. when you talk about twitter, everyone should be able to have a voice. it is up to us as individuals to decide what is real or not real. i'm not concerned about fake news being out there. there are trolls on twitter that go out to purposely troll people. you have to as a responsible user to sort that stuff out on your own. neil: you can do that. you can do that. you have a lot of smart friends but is everyone able to do that? there are people on the left and right buy as gospel something on line, they are convinced it is true? >> i don't know what to do about that. trolls get shut down. they create another account. policies against fake news are well intentioned. a lot of people blame fake news nor a lot of problems. i don't know how you ultimately eliminate it. once an account gets shut down you can create another one very

easily people who troll me on personal level i blocked, who create another account to continue to troll me on personal level. if i'm getting that on a personal level, i can't imagine on a larger scale how often that happens. >> we were doing, you might recall, kat, on gofundme page, peter strzok, one viewer, never-trumper, there are a few out there, more than a few, maybe hundreds of thousands, anyway said that i had donated $100 to his gofundme page. others were picking up on that and saying it is gospel truth. didn't happen, never did. it became accepted because it was repeated again on the internet. there is no discerning it or separating it. it becomes the truth simply because someone started, others repeated it, off we went. >> that is incredibly frustrating neil. i've dealt with that in the past. i had someone misconstrue my comments before, kat timpf says this, it gets attention. next thing it becomes reality

kat timpf said this, even though kat timpf didn't say that. my question what do we do about it? it is a lot to ask twitter to police every single post. neil: you can't. >> you absolutely can't do that. so you need to just remind people that not everything you see on twitter is boss pell. a lot of it -- gospel. a lot of quite frankly is a lot of garbage. neil: kat, thank you very much. people are going after facebook right now saying they're beyond help because they do little to try to correct this sort of stuff, police it, let alone just sort of monitor it. there is a move to break it up. how the company would be broken up is anyone's guess. because it is too big for its britches. sara miller is with us. >> thanks for having me. neil: are you in the camp favors breaking up facebook? >> yes. our coalition is comprised after range of groups have different concerns about facebook, and we represent 11 million americans, believe a really important part

of the solution is restructuring facebook to create competition. facebook has too much market power, too much control, too much control over the information. neil: how would you break it up? what would you do? >> separate instagram, whatsapp and messenger. it is simple. you can reverse the acquisitions instagram and whatsapp. those are all facebook property. >> exactly. neil: those would be spun off into a separate entity, i guess? >> exactly, exactly. right now facebook controls the social media space almost entirely. some countries it comprises the entire internet. it is clearly monopoly. incredibly dangerous. the first part of a solution create competition to let other social media platforms grow and thrive. neil: you have to be careful what you wish for. all of sudden it is expanding, you're right, it represents a quarter to 1/5 of the people on this planet, how many users it has, there might be other technologies along the way already in the process of

usurping this guy gant? in other words let the market decide that. >> sure, this is the first step in the solution. right now we really need to look at the fact that facebook is unaccountable, non-transparent and is creating a range of problems from censorship, discrimination, privacy violations, election interference, all which it has proven unable to manage. neil: so it has gotten too big for its britches to your point but a lot of technology companies are not as obvious in this because they're not social media platforms per se but they are big technology companies that gather information on you or use their version of address list and information on their customers and share that with people. where do you draw the line what you police or hold back? >> right. exactly. i mean we think this is critically important. facebook, for example, is allowed to collect data on you that not only is includes what you share on facebook but all over the internet. where you are through location tracking on your phone.

thousands of data points going back years and years. neil: i always think of scott mcnealy at sun microsystems said if you want your privacy these days get over it. the ease of use, they make life more efficient or usefulness, in other words, outweighs all the other problems it is a cynical view. it is seen as a cynical view then but do you think young people, you're a young person, do you think they look at that, say, yeah, i don't like them getting into all my stuff but certainly make my stuff a lot easier? >> we've absolutely seen polling numbers that people rin credibly concerned about privacy violations on facebook. that view is starting to be more outdated as people realize the scale and scope of information that they collect on you. neil: there is no clarion call. not like these people with the torches, storming the gates of these companies demanding they cease this. they get upset. they see smart people on the air talk about other solutions to this. i don't think they care.

either that or they're not, they're annoyed, don't get me wrong but they look at the convenience of all this stuff, we'll deal? >> we are have 11 million people. people on the left and the right have concerns about facebook. federal trade commission have authority to change it. we disagree. we're bringing coalition groups together to advocate this in one voice even though we might have particular different problems with the company. neil: i admire what you're doing. not too many are doing it. whatever you're doing the approach is brave. you're going up against a gazillion dollar behemoth. freedom from facebook spokesperson trying to get a handle on this. we're trying to keep a rally going up 96 points. all this at a time the mueller probe could be expanding. we just don't know. we do know the white house lawyer has been talking to those

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neil: you know 30 hours is a lot of time, maybe more to talk to bob mueller if you're the white house counsel don mcgahn but apparently the president gave him permission to talk, to talk to the mueller folks said there was no problems. encouraged him to do so. rudy giuliani doesn't really know what happened. could this be a modern-day john dean that turns on the president. who knows. hillary vaughn has the story. reporter: green light a sit-down between robert mueller's team and white house counsel don mcgahn. speaking on twitter all throughout the weekend, even this morning saying his strategy of full cooperation with the mueller team is being turned around to make it look like his team is turning on him but the president reminding everyone

that he is the one that allowed the mueller-mcgahn sit down because he didn't have to because he has nothing to hide. now the president suggesting that the mueller team is taking advantage of this full cooperation, saying investigators, quote, spent over 30 hours with the white house counsel only with my approval for purposes of transparency. anybody needing that much time when they know there is no russian collusion is just someone looking for trouble. now this follows reports that mcgahn has been very helpful to the mueller investigation but isn't giving the trump administration a detailed breakdown of all their discussions, but, president trump's legal team said they never asked for a detailed breakdown. reports have circled that some members of the administration are concerned about what mcgahn is disclosing but john dowd, the president's former outside counsel, is pushing back on that, any suggestion there is second thoughts at the level of the administration officials that they're worried about

mcgahn sitting down is completely false. administration officials i talked to this morning, neil, tell me nothing has changed in the relationship between the president and his white house counsel and he still stands by his decision to allow the interview. neil. neil: did they know he would be speaking so many hours with mueller? reporter: you can see the president shocked by that. rudy giuliani is shocked by that. the president implied that he is unhappy about that with his tweets that the mueller team is exploiting the full cooperation. we'll see if the full cooperation continues. neil: hillary vaughn, thank you. get details from vince coglianese, "daily caller." someone from the white house counsel ends up spilling the beans and gives up much more to investigators than the president

thought was possible, too early to say that the number of hours he testified raised that, and the president waived executive privilege to seemed to indicate that. >> "the new york times" made this sound like don mcgahn was trying to save his own skin, that he wanted to be the truth teller, that someone else in the administration gets in trouble. they declared mcgahn told mueller's team that president trump never exceeded boundaries of his own authority. suggesting everything donald trump had done as president was okay, was well within his powers to do. that doesn't sound like the type of guy who is trying to save his own skin. sounds like a guy who is going to go in there accurately representing the president of the united states. i thought that was interesting, mcgahn is trying to be forthcoming, part of a strategy that the white house said really earlier, we will be transparent in hopes that they will bring

the investigation to the end. that didn't work. not all that transparency didn't lead to end in the investigation. that upset trump's lawyers. neil: mcgahn to talk to the mueller people, we have nothing to hide. hence he does. do you think the views have changed given sheer amount of time he spent with mueller? >> the idea he spent 30 hours, next best thing to the president of the united states testifying. bring in a white house counsel, a guy who hasn't mat knowledge of all conversations. he goes 30 hours and robert mueller's investigation is not done yet. you hear guys like rudy giuliani, at this point it might not be wise to have the president to sit down at all. need to bring it to an end. president's legal team is frustrated how long this thing has stretched on, how cooperative they have been and how how long mueller's investigation has been.

neil: i want to be careful about stuff we don't know. i don't know if mcgahn relayed to them, i had been with them 30 hours, leave it at that he was under no obligation to. it does reinforce the defensive atmosphere at the white house that might be very unfair. they feel that they are being targeted. president called this investigation a witch-hunt. stuff like this emerges. i guess what i'm asking to you step way, way back. give me a sense where you see this going? americans are the of mind-set whether they approve of what mueller is doing or not to wrap it up quickly. do you think it will be wrapped up quickly? >> one would hope that mueller's team doesn't in any way impede or interfere with the election. the president voice ad pretty explicit concern in his tweets about that. bob mueller's angry democrats are seeking to interfere with the election. he should avoid that with all costs. put this thing on i.c.e., if he doesn't plan ending it anytime soon. for now it will cause a lot of heart acre among republicans. inside "the new york times" piece, mueller doesn't think he

can indict a sitting president of the united states following justice department guidance, in the end this is public relations battle. if it goes before congress by way of referral, it is up to the elected officials to decide to what to do with any report bob mueller sends his way. the president has to fight for his political life get out ahead of it. that is what we see him doing on daily basis. neil: hourly basis, what it seems, vince. thank you very much. >> thank you. neil: the president is busy trying to help coal and argued that during the campaign and throughout the campaign and then afterwards as president he was going to revitalize this industry by lifting a lot of restrictions, environmental and otherwise that bedeviled industry. if those were lifted they would have a fighting chance. jeff flock at a power plant in illinois where that seems to be the theme. hey, jeff? reporter: it's a question though, neil, how much it is going to help. that is the will county generating station behind me. it's a coal-fired plant but perhaps you don't see any coal smoke coming out of the stacks.

it is shut down right now. it is slated to shut down permanently sometime this year. they won't say exactly when but it is going away. the reality is, these shut-downs have not come as much from environmental concerns and regulations just from, free markets. you look at coal consumption in the u.s. over the course of the past dozen years, we used to consume over a billion short tons of coal a year. we're down around 700 million and part of the reason is the generation of electricity has come much more now from natural gas, which not only is cleaner burning but also a heck of a lot cheaper because of fracking than coal, a lot easier to get. down 36%, coal in the last dozen years. natural gas consumption by plants up 36%. it is really continued right up into the first four months of this year through the trump administration. the president made it of course a campaign issue. he has to keep his campaign

promise and that's what he is doing to try to solidify perhaps those coal states which are trump states in large measure but how much is this going to help these plants? these decision have been made to shut some of them down long ago that can't be spun around. a lot of times they're making the decision, neil, the fact that natural gas, and solar and wind make better sense for them. they're cheaper and easier. you don't have a big ol' coal plant to deal with and maintain. coal jobs and we all sympathize with, they're tough jobs. one of the reasons people like them they pay money. a lot of good money. well, that is because coal is actually expensive, more expensive than natural gas right now. neil. neil: jeff flock, thank you very, very much, my friend. the battle for power in this country, sustaining coal is part of the picture with natural gas. just might be market fors at play here. we shall see. one thing going on in the economy is earnings. another thing is shopping.

another thing is saving. you are saving a lot of money. you're not just spending it all. that is very different than the environment we had going into the last melt down. people learned from that meltdown and how. ♪ the employee of the year, anna.

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♪ , we're saving a lot of money. we're saving a little more than 3% of our income. a lot of people say that couldn't be, because after the meltdown when a lot of us were socking money away we never wanted to revisit something like that. that a lot of people experienced first-hand. neighbors, friends go through it we would have cushion next time something like that would happen. we never gave up the cushion. we never gave up to have the fight for cushion. what is odd with this number, raising with a national taxpayers union senior fellow there, people continue to do that and shop judiciously.

so there is a little bit of an opportunity for everything. what do you make of it? >> couple things happening right now. one, i think we see evidence that people who were down on the tax reform law, not being able to change things and saying that it was just a sugar high for the economy there, is evidence that's wrong and that's because what happened with tax reform is changing some of the more pervasive problems we have with income stability in this country. it is savings. the fact that over the past decade or so our savings rate was so low. leaning into the 2018 recession we saw difficulties americans were not saving enough. that the quick it in their home was enough for savings nest egg. we saw what followed was not the case. now that americans have more after-tax income. what they're doing with the income is noteworthy. they're spending it, yes. they're saving it as well. we're seeing changes not just in the last couple years but in the first quarter alone. the bureau of economic analysis said that the savings rates for americans they estimate to double for the last year. this is just in the first quarter when we're tarting to

see changes in that after-tax income change. neil: you know what i found surprising. first thing i always tell a lot of young people foolish enough to ask me for investment advice, spend a lot less than what you earn. >> yeah. neil: the thinking being, i've seen millionaires go broke spending more than millions they're making, you should learn to live with less, not dramatically less but at the margin that can make a big difference. i wonder if that is coming in at play. >> right. neil: they're doing better but not spending every new penny coming in. >> that is exactly right. the thing about savings, compounding effect. the earlier you start saving, the more you save in the long run. we have record number of 401(k) millionaires. people have taken note, started to invest in their own livelihoods and savings in the long term there. is question whether or not young people will take note of that. millenials like myself have gotten a lot of flak for our

spending habits. we need to spend less. we need institutional changes from policy perspective induces people to save. looking forward, house of representatives in september how they will do tax reform 2.0. a big component, how we save. making savings more accessible for employers to offer to the their workers but individuals taking advantage of a savings reek they may not have the ability to do so in the past. increasing sophistication and financial understanding why savings are important in the coming years as we see young people age into the workforce. neil: another thing going on here, hoping it is not screwing these numbers about, the fact that the market goes up, dividends, all that goes up with it too, is that skewing data to make it better than normally would be. i don't think that is the case. it does help, right? >> i think, neil, we need to recalibrate our expectations here. we're so used to having a skepticism about americans financial futures --

neil: you're right. you're right. >> when we see good stock market, healthy savings, healthy consumption, people look around and say what we do next? we invest in the future. make sure savings vehicles are there for everyone that wants to use them that will take care of long-term worries. when we haven't had the stability to lay back on. neil: i think realizing the money in, money out. if governments realize at state, local, federal level, just individuals get a good sense of your budget what you want to do. >> yeah. neil: live accordingly. >> exactly. neil: which is not rocket science which is very expensive field. thank you, mattie. >> thank you, neil. neil: president little more than an hour away from honoring i.c.e. at the white house, despite celebs some democrats calling that back. separating kid from their parents, outside of that it is doing a lot of good work.

it is trying to make amends. it is doing the kind of things the president says it should be doing and no one else can do. is he right? right after this.

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neil: by the latest polls most americans like i.c.e. doing the job it's doing by margin almost

seven, eight out of 10 voters. so it could backfire. >> i hope it does. these are american heroes. leave safety and security of their home to defend our nation. there are 400 names on the national memorial wall in d.c., of men and women died in the line of duty. people like senator gillibrand and governor cuomo, go walk that wall. neil: the president is going to recognize all of them, doing so on recommendation of former director thomas homan who has been saying all along i.c.e. should be celebrated, not politicized. they're doing more good than any of embarassments come to the attention or separation of kids and parents issue. be that as it may, administration will make i.c.e. front and center at white house. it will continue to, continue to do its job and reading political tea leaves that most americans feel same way. democrats got called in a box

here trying to call for its shutdown. get the read from texas attorney general ken paxton who has a good read on all these developments. always good to have you. ken, a lot of people are looking at this saying you can't gloss over the problems with i.c.e. you say what? >> i wouldn't disagree with that. we have to deal with problems no matter whether with law enforcement and doj or my office. you always deal with issues. these people are heroes. i don't know if any of these politicians have been along the border but i have. i've been on both. helicopters and horseback, these people are sometimes in very unpleasant conditions risking their lives. you know, they're doing a job they were asked to do. i appreciate it. neil: you know, ken, obviously the president made a calculated political move as well, i stand by i.c.e., i'm not going to withdraw my support from i.c.e. even chuck schumer said on democrat side the clarion call to get rid of it might have backfired, went too far. he is urging a lot of his more

virulent members to calm down a bit on it but where do you see it going, will it be an issue this election year? >> i would be surprised if the american people were not supportive of the efforts of i.c.e. and border patrol and customs enforcement. at least texans and most americans realize we have border issue, they want security and want to be safe. president is doing the right thing and democrats are realizing this is an important function of government. neil: on the same day the president is very told to a close to a nafta deal with mexico, not with canada. that could be a while in coming f we get a deal with mexico and nafta, for incoming ral government takes office in december, that could be a game-changer on border issue and illegal immigration issue. there is a lot of stake, right? >> as a border state we do a lot of trade with mexico. that is one of the main trading

partners. it is important for us to have a good relationship with mexico and mexico. i hope the president gets this worked out. it is important to a lot of citizens in texas and ultimately to a the rest of the country. neil: if he cobbles this thing together he gives up this notion on mexico paying for this wall? >> look, i don't know, it is not important for me to pays for it, as long as we get the job done. it is ultimately about negotiations. obviously i hope we negotiate a good deal for our country. it has to work both ways. in the end all i care about we have a good deal for my state and for the rest of the country. neil: all right, a couple billion was set is aside to get going on this and advance this, it will cost at least 10 or 15 times to finish it, whether a structure or one combined with electronic implementation. is it your sense though, that is ever going to happen? >> yeah. i hope it does happen. we have a wall, at least along

juarez and el paso. before that was put up, before that was put up, el paso had the highest crime rate in the country. it has one of the better crime rates. i know it works. whether it's a wall or combination of technology, or technology gotten better we can use that. obviously we need more border agents. not just one size fits all. depend on what part of the border we're talking about. neil: go to the brouha that started this elimination of i.c.e., separation of kids from their families. a lot of i.c.e. individuals coming back to me, we were fallen orders given to us from the trump white house. orders or policies indirectly in effect at prior administration, just not acted on of the power is to go ahead and do this but others have not followed up on that. what do you make of the argument that i.c.e., easy to blame them in these events but you might sooner point the finger who is ever in charge of the white house because, they give the directives, i.c.e. has to

follow suit? >> yeah. i agree with that. i.c.e. has to, they're just following the law. it is policies enacted by the clinton administration made this very complicated for both the trump administration and for border control. so they're dealing with a very complicated, messy situation that was created by prior administrations. the fact that the obama administration decided not to enforce the law was not a solution either. it caused more problems than obviously helped. neil: but it does and continue to galvanize the left. i don't know what happens in midterm elections, one of those core issues galvanizing the left, what do you think of that? >> i think that is true. no one wants to see parents separated from their children. i think the trump administration has struggled. they don't want the separation either. they were dealing with policies and law they didn't put in place. hopefully congress in the end what we need them to address this. it is not really ultimately trump decision. it's a, it's a congress

decision. neil: all right. the president is also talking a lot about the economy and good earnings and the fact that wednesday we could be looking at longest bull market in american history. but it doesn't seem to have made a dent yet in some, not all polls. you would think it would benefit republicans going into the midterms. what do you make of that? >> i don't really know what to make of that. typically if the economy is doing well, people vote their pocketbook. i'm going to be surprised if that ultimately doesn't happen here. you know obviously the economic figures are on his side. on the republicans side. i ultimately think, when people get to the polls they will pay attention to this issue. they're in better shape than they were three or four years ago. neil: ken paxton, texas attorney general, good to see you again. thank you very much. >> thank you. neil: we're up a little more than 100 points. waiting for the president hour from now we have the i.c.e. event. he uses occasions to tout the economy and other developments, including what could be, unless

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we've spent obviously quite a few hours. and his thoughts on what you said. the president as will saying they can throw a party when they raise interest rates. a lot more on that. cheryl casone will take you through the next hour. we have a lot of breaking is to get to during this hour. let's start with your markets in your money. hello everyone. i'm in the for trish regan today. we like to walk me to the intelligence report. hearings from president trum