tv After the Bell FOX Business September 7, 2018 4:00pm-5:00pm EDT
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still down 73 points. that will do it for the "claman countdown." the s&p losing about five points. the nasdaq down 19. i hope you guys have a great weekend. [closing bell rings] come join us again on monday. see you then. david: new fears of a trade war hitting wall street but not as hard as it was earlier. stocks recovering slightly after president trump threatened tariffs on an additional $267 billion worth of chinese goods. the dollar ending the day down about 77, way off its session lows. s&p 500 and nasdaq closing in the red for the fourth straight day. hi, everybody. happy friday, i'm david asman. melissa: happy friday is right. i'm melissa francis. this is "after the bell." we have more on the big market movers but first here is what else we're covering in this very busy hour ahead, yes. look at that, more trouble for tesla see elon musk getting high as tesla's stock drops lower. the fallout from his controversial interview and key executive departures, it is like
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run for the hills there. former president obama is giving us a preview what we can expect when he is out stumping for democrat candidates this fall. it includes blasting republicans and president trump, calling him out by name and taking credit for today's economic recovery. our panel will respond to this one. this on a day when we see a blockbuster jobs report blowing away expectations. there is one big industry, american industry is struggling to fill jobs, paying $75,000 a year to pay with benefits and cannot find enough people to take the job. we'll tell you where that is. david: almost a good problem to have. the dow closing in negative territory for the second day, weighed down by trade sensitive stocks like boeing, caterpillar, 3m. nicole petallides on floor of the new york stock exchange t could have been worse. >> it could have been worse. we came down off the lows. we're down about 1/3 of 1%.
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president talked about more tariffs ready to go. $200 billion in the hopper ready to fly out there. that certainly put people on edge. intraday we saw the dow sell off. we've been up three weeks for the dow. today we're seeing markets to the downside. you saw the selling. s&p 500 down a quarter of 1%. here is a look at tesla, down just for this quarter, about 25%. so of course, elon musk appear's rogan's show smoking marijuana. tesla employees allowed to do that? i don't know. meantime we have so many things. departures of executives. you have investors on edge. and i spoke to james at consumer edge. basically they are suggesting that somebody else come on board a co-ceo, someone who can drive the ship and help elon musk with his vision. meantime, as i mentioned, this week to the downside, a lot of tech stocks got hit. here is a look at bkf, that is barnes & noble.
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they came out, you can see the stock had a big jump, up 1 1/2%. taking a stake, they upped the stake from 5.7%. really getting in there saying it could be interesting potential for acquirers. barnes & noble says we're not looking for a sale right now but look what happened to this stock, up 17%. as i said it is a winning week for some, including home depot, coca-cola, exxon. some of those tech stocks, overall you see major averages drop slightly. the nasdaq with tech stocks down 2 1/2% this week. back to you. david: have a great weekend, nicole. melissa. melissa: stocks moving in reaction to big trade headlines in washington aboard air force one. blake burman live at the white house with the latest on all of this. blake it down for us, make. reporter: the news did indeed came on board air force one, melissa. president trump renewing his threat of potentially more tariffs against china.
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early as next week potentially the president could reveal if the chinese will be on receiving end of $200 billion worth of tariffs. what the president said extended beyond that. he said there could be more tariffs after that in the pipeline. >> now we've added another 200 billion. i hate to say this, but behind that, there is another $267 billion ready to go on short notice if i want. that totally changes the echanges. reporter: meantime another week set to come to close between the united states and canadian trade negotiators as relates to a potential trade deal there. much different feeling heading into the weekend though this time around as the top trade representative for canada, the foreign minister, chrystia freeland said they're ending the week with the talks being constructive as she put it, saying progpress has been made. the president has threatened auto tariffs in the past against the canadians should there not
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be a trade deal. earlier today in north dakota, he reminded that when it comes to trade talks, the threat of auto tariffs is something that is not unusual. >> every time i have a problem with any of these, many of these countries we're talking about especially the big car countries, i just say okay, look, we can't make -- that's okay. i will put a 20% tax on your cars. we'll do it. we'll do it. we'll agree. reporter: the president also celebrated the jobs numbers, 201,000 jobs created in august. 3.9% unemployment rate staying the same. president trump said the biggest delight as he sees it, year-over-year wage growth at 2.9%. however, melissa, the head of the democratic national committee thomas perez said they feel, democrats feel that is not keeping up with rising costs elsewhere. melissa. melissa: there you go, blake. thank you. david: here is jack how much from "barron's" magazine, michelle mckenna and paul
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versano. jack, first to you, i think probably safe to say what was moving markets today was trade, right, positive or negative? >> i mean, when you look at stocks so far this year, stocks are up less half as much as earnings. i like that set-up. it means valuations are becoming more reasonable. stocks aren't getting overstretched. it sets us up for prolonged in stock market, prolonged economic expansion. i hear a lot of worrisome talk about trade. i'm not seeing a lot of trouble signs in the numbers right now. david: michelle, that is a very interesting point. maybe this is tamping down a wild west kind of market, putting more sensibility into valuations? >> yeah i'm actually very optomistic you will see some trade negotiations happen. that you will see deals happen because let's talk china, right? china is dealing with their own economic woes. they have lower, they have higher unemployment numbers, they have lower retail sales
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numbers and also we have an extremely strong consumer. they want access to our consumer and i think that is a very bullish sign and hopefully these china as well as united states will come to the table and get a deal but i agree that i do not think valuations are extremely overvalued here and the market has further room to run. david: let's talk about, paul, what happens if some of these things kick in. we're talking about 25% tax on all items coming in from china up to about, close to $600 billion. i mean they already had a 25% cut in the stock market, valuation, it was probably overvalued anyway. some of that should have happened. consumer buy something way down in china, investment, industrial production is way down. how much more of this can they take before they blink. >> i don't think it is coincidencal president trump announced a potential
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267 billion tariffs on china on same day we have positive news on the jobs report. i think that obfuscated some of the impact in the market. i do think, a lot of folks argue the merit of these tariffs or not but one thing i don't think you can argue us coming from at a position of strength. the timing of the u.s. doing this with the u.s. market so strong and they're weak. david: they're weak. focus you on the question, how much more can they take? >> we're going to find out. their public and public equity markets in china have not been doing well. i was talking to my partners over there and as you know we cover mergers and acquisitions and we're starting to see for the first time actual pausing of m&a, deals being put on hold and as well deals are being aborted over fears of tariffs. melissa: stick around, guys. raise for american workers, the economy adding 201,000 jobs in august, beating analyst expectations. the unemployment rate remains at 3.9%. wage growth soaring at fastest pace since the great recession.
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jack isn't that the thing we've been waiting for, is to see that wage growth in there? >> this report was so good, my trump derangement syndrome i think is starting to go into remission, almost, almost. david: wow. >> wage growth is encouraging. i don't know if we stay at that number on sustained basis. it comes right ahead of that seasonal christmas hiring season. imagine more people making more money, good for christmastime spending. it is all good news. melissa: yeah. michelle, we heard president obama take credit for this earlier today. he said when you hear the remembers don't remember, i mean don't forget how this started in his administration. we saw gdp revised to 4.2%. president obama is the only president in history who didn't have any higher than 3% growth in any year during his administration. do you think he can take credit for this? >> i think he could take a little bit of credit, absolutely but a lot was in the making. trump did the tax cuts when we went from 35 to 21.
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so that absolutely helped. let's talk unemployment, right? i think trump will see further lower unemployment numbers. i know larry kudlow a few weeks ago stated that he feels that 10 to 22 million americans could find their way back to the workforce. i think that could be an extremely positive sign. and if trump can do that, that is good news. melissa: paul, what's your take? >> well i think what is not to like? 95 consecutive months of job growth. i think we're at, if not near full employment. we're starting to see wage growth. even look at the u-6 number the highest it has ever been, sorry, the lowest it has ever been in employment perspective in 1years. the hitting all cylinders. david: take a look as tesla for a moment. i hate to force you to do this. ending the day down more than 6% after ceo elon musk, controversial, one way of putting it, appearance on a popular podcast and two major exits from the company. susan li is in our newsroom with the very latest.
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susan. >> controversial is a very good word, david, good to see you. we do have the stork at its lowest in the year of 2018 after a controversial year and controversial shall we say episode last night of the joe rogan podcast. it was broadcast live on youtube. the most controversial parts, i just run it for you. looked like the ceo and chairman of tesla taking, taking a toke of marijuana. >> okay. so it is like posh tobacco. >> ever had that? >> i tried it once. >> come on man. you probably can't because of stockholders, right? >> i mean it is legally, right? >> totally legal. >> how does it work? do people get upset at you if you do certain things? tobacco and marijuana in there. that is all it is. >> as i mentioned, marijuana is legal in california but the question is, does it violate
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tesla's own corporate policy? that is something people are taking a closer look at. also wide-ranging 2 1/2 hour interview over whiskey, they talked about artificial intelligence, talked about climate change, the boring company, tunneling under los angeles, lots of topics covered and getting personal at times as well the take a listen. >> i think when i was, i don't know, five or six or something, i thought i was insane. >> why did you think you were insane? >> because it was clear that other people did not, their mind wasn't exploding with ideas. >> so the stock today is down. so with partially on some questionable reputation questions of tesla and its founder and its chairman. also more executive departures as well. we had the chief accounting officer, dave morton stepping down after less than a month in the job. and he says because of the heightened scrutiny on the company, it has made him rethink his his future.
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hrvp leaving. this has been a long year of departures, david, chief engineering, chief of sales, chief of communications left tesla. >> i can't imagine being the hr director for elon musk that he is doing things he would probably prohibit his employees from doing. susan, thank you very much. our panel is pack to react. michelle, i don't like psychobabble in journalism but do you think that he is just trying to self-destruct here? what is going on? >> who really knows but i think it is a nice reminder to investors when you're up 45% in a year, they were up 45% last year, now they're down 15, maybe you should take profits. have the discipline to take profits. now i think investors are waking up, realizing they're not a tech stock. and they shouldn't trade like a tech stock. their valuation should reflect like auto stock. auto stocks trade at much lower valuations. david: paul, you have to go beyond the technicals here. the fact that credibility is important in a business, in a
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public corporation. you look at this guy, what he has been doing, you wonder about his credibility? >> i agree. that is a perfect example of peer pressure my mama warned me about when i was a kid, right? david: actually, melissa and i know elon musk's mom. i'm sure she would give him a whack in the back of the head. go ahead. >> commentary on take private, executive departure, something is going on. david: jack, we've seen other ceos who try to defy investors or try to defy wall street. i remember way back, people's express had a ceo who was colliding investors. he finally saw his company go down to zero. is that is going to happen with tesla? >> you have two choice, double down and appoint chief and chong to the board, ride this thing out or think about different executive leadership at this point. david: i think the latter, don't you? >> i think you might be right. david: what happens, how do you replace, michelle, a guy like
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elon musk? as crazy as some of his actions are, off-putting as they are, he is, one to acknowledge a genius who has these idea this lead to some extraordinary things for the company? >> it will be hard because i have to say the reason why probably tesla has done so well here is there has been so much momentum behind elon. a lot of people could give the same example to amazon. granted jeff bezos acts a lot differently than elon musk but might be hard to replace. david: great to see you all. have a great weekend. melissa: absolutely. former president obama entering the political fray, slamming republicans and calling out president trump directly. is this what's going to help democrats in the midterm election? maybe. we'll put our political panel on it next. david: also "new york times" opinion columnist paul krugman, remember him? he is the one said it would be doom and gloom after the election. he says now judge kavanaugh is going to kill the constitution.
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anyway, what is happening with that? we're going to be asking steve forbes who will be in here in a moment and sound off on that and more. melissa: president trump on the hunt for the anonymous "new york times" author with his administration. more on the action he says should be taken now. ♪ a scratch so small you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty. ♪ (guard) i've seen things unnatural things. these people they don't sleep... like ever. they reveal in extremes and defy limitations. these pursuits may seem unnecessary. but the scariest thing i can imagine is a world where this,
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melissa: president trump wrapping up the search for the anonymous author of "the new york times" op-ed allegedly within his administration. here is what he said aboard air force one today. >> for somebody so do that is very low and i think junenal list i cannily and from -- journalistically, from many different standpoints and maybe from the standpoint of national security, we'll find out about that.
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for "the new york times" to allow that to happen is disgraceful. jeff should be investigating who the author of that piece was because i really believe it is national security. melissa: here is bill mcgurn, "wall street journal" columnist. first of all it is a matter of national security, if you have someone subverting the president in his administration? >> i'm not sure about that. that is a little bit of a stretch, unless someone in justice and so forth. i think it's a betrayal. i think it is disgraceful. i think it is incredible a person would say i, who am not elected i will steer the president on the right path, i get to make this choice. that is the choice of the american people to make and they made knit november of 2016. melissa: do you think the fact that he says i think jeff should look into it? a lot of people think jeff sessions or someone who works for him? >> i'm sure everyone is trying to figure that out. when i worked in the west wing there were many days where you read a "washington post" story,
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you are trying to figure out who that anonymous source was, right? melissa: yeah. >> this is to the innth degree. i will say there is curious about the story, paragraph of trump achievement. author took credit himself, booming economy, deregulation, i'm not sure the "times" has ever listed these as achievements before. melissa: the narrative is, i notice this among democrats is that they say this is, this is happened in spite of the president, because of the adults in the room that are ignoring him. >> right. melissa: if they listened to him, those achievements wouldn't happen. kind of fits with the undermining narrative. >> at the end of the day the president makes the decisions. if he is amenable to being persuaded to do the right thing, i think that is a great thing. i thought it was important to vote for someone for the supreme court. i've been pleasantly surprised for policies elsewhere. this is kind of a canty.
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everyone thinks they are smarter than president and and a few of us no better but we are not stupid to write it this way. melissa: i am interested being from "the wall street journal," it could be very minor who know one knows. >> right. melissa: if we her their name, in fact, i would feel like it is likely somebody -- >> deputy chief of something or other, right. melissa: right f they had printed it with that person's name nobody in america would be focused on it. seems like sort of a scam? >> i think it is a switcheroo, in a sense when you say a senior figure -- melissa: go, oh. >> in trump administration, people think vice president pence, chief of staff kelly, one of the cabinet officers. people that work there, you and i in the press, we know senior could be one of hundreds of people. melissa: hundreds. >> this trump administration doesn't necessarily mean the west wing, we could be talking about somebody at justice or epa. it is not clear a trump political appointee. a career or holdover from a
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previous administration. melissa: yeah. >> i think this person would not have impact he or she is having now if his or her name is on it. melissa: that seems like, almost forces "the new york times" to kind of come forward to say a little more or something. could be legitimatizing -- >> there is a place for anonymous thing if you're writing a story about a mafia don or dictator. melissa: this is someone like the west wing calling the emergency line. that is how they make it seem. >> it's a pr stunt. melissa: thank you very much. david? david: take a look at apple. dropping during the last hour of trade. speaking about $200 billion worth of goods from china and another 267 on top of everything else. apple says terrorists act as a tax on consumers and -- tariffs act as a tax on consumers, increase the cost of its
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products and fears the u.s. will be hit the hardest. we'll see what happens there. melissa. melissa: where are workers and employers strug inkling to fill jobs offering $75,000 a year with benefits and a pension. we'll speak with the business owner who is caught in the middle of this labor shortage. ♪ to err is human. to anticipate is lexus. experience the lexus rx with advanced safety standard. experience amazing.
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are you in good hands? david: a sign of the times. 75,000 a year with pension and benefits about not many takers. we have peggy marker, marker construction president, right in the center of this problem down in florida. peggy, have you ever seen a situation where the job offers outpace the job takers to this extent? >> no, never. this is record-breaking. david: do you worry it's a bubble? that maybe this sis -- is going to pass or do you think it's a
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long-term problem you have to deal with? >> i think it's a long-term problem we have to deal with. the mind-set has changed in society and educational institutions, people are no longer being encouraged or trained to be skilled workers. everybody is on the college path. david: we are talking here about skilled workers, like electricians and plumbers. you're not just talking about somebody hammering nails in. >> correct. david: what if you reach a point where, you know, building is not going up because you can't hire enough workers, enough skilled workers, plumbers, electricians and et cetera? are you going to have to up the ante to 80 or 80 five or 100,000? or will you spend time training workers and bearing that cost in order to get the workers you need? >> we're doing, we're doing all of the above right now. we're, obviously salaries have gone up but in addition people are looking not only for more money and better benefits. things like a great work place. you know, more personal days
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off. do we, you know, support them, doing additional training or higher education which our company does, we pay for all of that. david: wow. >> you have to make yourself as attractive as possible. david: that's a huge cost for you guys. how do you deal with it? do you pass it on to the consumer? >> no. it's, i think part of the cost of doing business, you know. you get the best workforce that way. you deliver a better product. then people want to work with you. so you know, it is, reward of it. david: eventually wage inflation does catch up. it is interesting. we had jobs numbers come out today. there was wage inflation but not a lot of it, not enough to worry the federal reserve or others. have you, it appears you're able to swallow the cost, the extra costs of this training? >> the training? for sure. you know, i think, obviously our clients also bear the brunt of wage increases because it is industry standard. i mean every company has that
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but when you want to separate yourself being a better employer, we have to eat some of that. david: i got to finally ask you one question, kind of unrelated to this? are people moving to florida? we're talking about here, we're talking about all the folks coming to florida, are they refugees from high-taxed states? >> we certainly see a lot of new yorkers coming down. obviously florida is known for the place to come and retire. people are retiring younger, living longer and it is a huge influx into our economy. david: a lot of people, i know this, a lot of my new yorker friends are fed up with high taxes here. i understand it is happening elsewhere. you do have a nice climate down there but you also have zero state taxes. that must be one reason people are moving there? >> you bet. david: best of luck to you, peggy. sounds like you're making the best of it. thanks for being here. >> thanks for having me. david: you too. melissa: the fight for breast
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>> start with donald trump. this is the symptom, not the cause. [applause] he is just capitalizing on resentments that politicians have been fanning for years. melissa: resentments they have been fanning or resentments of those politicians? that is my question. president obama calling president trump out by name and diving into the midterms in the 2018 election, looking to help democrats regain some of their congressional seats. ford mcconnell, chair of the civic forum pac, robin biro, former regional field director for the obama campaign join us now. robin, do you think that will be effective? >> i think he gave a effective speech today. we needed his voice. to be honest i'm not seeing a whole lot of leadership from the democratic party. he did a good job attacking
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apathy. bringing out the point only one in five young people voted in the last election. polls still show we have troubles as democrats headed to the midterms with trying to turn out the young vote. and i was really glad he laid out some cohesive, coherent issues because right now the party has 435 official platforms. melissa: yeah. >> you know what, robin, here is the thing. you guys really only have one issue. that is donald trump. to be perfectly honest, melissa, the democrats are beyond fired up. this could actually be a net positive for the republicans because the problem in 2018 staring republicans in face is enthusiasm gap. look at latest "fox news poll," 76% of clinton voters are certain they will turn out in november. only 67% of trump voters are certain they will turn out. the number needs to be closer to even between the two parties if the republicans take back or hold the house. melissa: let me ask you about the argument he was making
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though because when he said he talked about the ruling class, and breaking the death grip the ruling class has protecting its power in this country and president obama talking about himself as a step forward and president trump as a step back, a lot of people who voted for president trump hear what president obama was saying think, the ruling class that has a death grip are politicians in washington that elitist like president obama are that ruling class that has a death grip and the revolution was about people like them. robin, i mean do democrats realize that half of america hears that talk and thinks of politicians in washington and those elitists as the ruling class who have the death grip? >> melissa, yes, you just nailed it. i want to be clear. the swamp is on both sides. we have a swamp in our, on the democratic party ourselves that needs draining. we have, i would love to see
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someone replace nancy pelosi as speaker, for example. i think she is a masterful legislator but we need a new voice because republicans are doing a wonderful job of using her name very effectively to attack democrats as being pelosi democrats and it is working. so we really have issues on our side. obama rightfully called the democratic party out on several of those. i was glad to hear it, melissa. melissa: ford, what do you think? >> you have to understand president trump was swept into power precisely because of the obama agenda, and essentially he is back on the campaign trail will remind a lot of republicans of consequences giving democrats in washington back the power, therefore what it is like under the status quo. so therefore i think this is a great thing that he is out there. if you notice very carefully obama only visiting what i would call democratic friendly territory, california, new york, ohio. i promise you love him to go to montana, go to north dakota, because i know the republican will win that senate race.
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melissa: what do you think about that, robin? >> today was actually a republican strong hold, specific district that he was in, and they laid out a very clear plan, that he does plan on going to those. he said himself in the speech today we have to fight for every single vote because what we did in 2016 obviously didn't work. >> robin, let's be honest, heidi heitkamp doesn't want president obama outside of fund-raising in north dakota. john tester is saying not come to my race. in key races this is about obama's his leg ga sy and influence the democratic party. that's it. melissa: he reminds democrats were they voted for him in the first place. we have breaking news. we'll talk about this much more. david: hate to break that up. u.s. judge sentenced ex-trump campaign aide george george paps one of the things some say led to the russian investigation.
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david: 14 days in prison for lying to fbi in the russian probe. he is accused lying to investigators about arranging a meeting with the trump campaign and trump officials. before that sentencing papdopoulus said he made a terrible mistake and hindered the investigation. 14 days. melissa: dead wrong about the trump economy. larry kudlow's message to all the experts who said this boom would never come. steve forbes, forbes media chairman sounding off. ♪ we protected your money then and we're dedicated to helping protect it today. like alerting you to certain card activity we find suspicious. if it's not your purchase, we'll help you resolve it. it's a new day at wells fargo. but it's a lot like our first day.
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david: what would you say the headline story today? >> here is the broader headline. the single biggest news story in 2018 by far is an economic boom that almost everyone believed to be impossible. david: yeah. white house chief economic advisor larry kudlow in an interview you can see tomorrow by the way at 3:00 p.m. on fox news channel, talking about
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how the naysayers never saw the economic boom coming that we're in today as employers added 201,000 jobs in august. we've still had the historically low unemployment rate. joining me with reaction, steve forbes, forbes media chairman. all the naysayers. they thought we were going to tank, as opposed to explode the way we have been. more than barack obama comes on the scene saying he is responsible for all of this. yet, it wasn't his economic policies that turned this economy around. >> like a coach who had eight years of a losing team. they get a new coach, the team starts to win, the old coach said, i did that. quite amazing. he said entrepreneurs don't create businesses, all right i will apply to president obama. you did not create this economy. david: the thing is, i said to larry today, it is not rocket science. you make it cheaper for businesses to do business by lowering taxes, by lowering the
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number of regulations and you will have more business. it is as simple as that. >> the american people do it if you let them do it and for the first time in eight years people can get up in the morning know that the government was not going to try to figure out a way to make their lives harder and more miserable. david: what happened with obama, it is true that stocks went up after he came in, but he came in at the absolute bottom, literally the bottom, march 2009 was two months after he took office, that was bottom of the recession. had no place to go but up. the dow was trading 6,000 back then. it is now at 25,000. it was going up but it was stuck at about under 2% rate for eight years. it is the slowest economic recovery we ever had because he raised taxes and he increased the number of regulations. >> yes, and a lot of that stock market rise, let's be blunt about it, financial engineering, buying shares, mergers and acquisitions. david: the fed with zero interest rates. >> all fine stuff.
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you didn't have positive investment that enables a economy to grow. new business formation showing signs of life. you're not only seeing that but investment being made. that is how you get future prosperity. david: quickly one of the naysayers is paul krugman who shade we would fail as soon as trump was elected. he is now saying a vote for kavanaugh will be a vote to destroy the legitimacy of one of the last federal institutions standing. your response? >> with him you take the opposite as the truth. so when he says destroy the constitution. no, it will destroy the constitution. no more legislating by the courts. there will be judges, not legislators. david: yeah. >> that is what he is angry b that whole column was a rant, rush shun collusion. everything they have in the arsenal is out there. it is a reflection of frustration. the economy is doing well and they can't stand it. david: it was a vomitorium. south of the border, brazil a
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conservative candidate was stabbed, luckily not to death, stabbed on the campaign trail. he has serious injuries. he may not make it. in argentina you have a terrible crisis. the imf which is a bain of your and mine existence for many years because they often give bad advice -- >> malpractice. david: we'll give you a loan if you raise taxes on exports. just the opposite of what they should do. they're also having a currency crisis. that is brazil by the way. but larry kudlow suggested that in fact the u.s. treasury may try to come in and do what the imf hasn't done, play the sound bite. >> the treasury is deeply involved in this discussion, deeply involved, which is a great thing. and, as you and i learned and others, the only way out of argentina's dilemma is to set up a currency board, the peso links to the dollar, but you can't create a single new peso.
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david: think of that idea? >> that is sensational. 1990s, argentina did a half-baked currency board which had some success. they didn't do it right. it went kablooy. david: it did last for seven years. >> every time you do a real currency board it always works. so by taking out of the hands of politicians and central bankers, having that fix, it kills inflation overnight. bulgaria did it 20 years ago. almost hewlett-packard irinflation overnight -- hyperinflation. stability. david: argentina sounds like it is far away but could lead to a spiral for emerging markets all over the world. >> it has speculators going after currencies because they know central banks don't know how to defend their currency. if argentina set up currency board or something they never do, dollarize, you would see the economy come to life. david: u.s. treasury, people like larry kudlow know a lot more how to fix things. >> that is the best news ever.
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instead of the imf. like a real doctor versus a crack. david: steve forbes, have a great weekend unless you're watching yankees. melissa: that was a greatnal sy. our own gerri willis is leading the fight against the deadly disease and how you can get involved. ♪ a dry mouth. plus, it freshens breath. biotène. immediate and long lasting dry mouth symptom relief. 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.
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it's a revolution in sleep. the new sleep number 360 smart bed is on sale now, from $899, during sleep number's 'biggest sale of the year'. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. it's the final days where all beds are on sale. save 40% on the new sleep number 360 limited edition smart bed. plus, 24-month financing on all beds. ends sunday. sleep number proven quality sleep melissa: this marks the 29th annual susan g. komen race for the cure, raising funds for breast cancer research. so far the fox team raised $31,000 ahead of sunday's race, beating last year's number.
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our own gerri willis is spearheading the campaign. i will be out there sunday with you. i'm bringing my kids. we'll walk through central park the i have to tell you this is really something that touches everyone in my own life. three people in the last month have been diagnosed. >> you're kidding? melissa: it is shocking. >> you had a mammogram. melissa: myself, yeah. >> i wanted to check. it is critical about early detection. to hear your family is impacted. melissa: three people in the past month. >> right to the heart of everything we're talking about. one in eight women will be diagnosed in their lifetime. i was diagnosed two years ago with lob you lar breast cancer, an aggressive form of breast cancer. six months before my diagnosis i had a clear and clean mammogram. melissa: wow. >> you have to go back and get checked over and over again. this weekend is exciting. you will be there. we'll have so many fox stars there. if you are a fan, live in the new york city area you better go to central park on sunday,
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9:00 a.m. melissa: it is not just about raising money. it is about raising awareness, bringing it up so they get mammograms, but letting people with the diagnosis, there is a future. it did change your life for the better. >> it changed my life for the better. sunday is about showing that warmth. because what i found through my own journey, if you were on your own and you're alone, that is a recipe for disaster. you have to have support from people, not only to tell you secrets of how to survive the treatment, but also to be there with you because it is grueling to go through this on your own. listen, i wasn't alone. i had the fox team behind me. i got calls every single month from our executives. what did they say, gerri, when are you coming back to work? no they said, gerri, are you okay? what can we do? it was unbelievable. >> that is amazing. we're have a huge support team. our team "after the bell" wanted to raise awareness on social
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media. our own producer jamie, conducted a little contest. take a look. >> we're taking you on a battle of the best bubble gum bubble. let's go. ♪ ♪ melissa: a pink bubble. get it? to raise awareness. i hadn't done that so long. we're encouraging everyone to donate. send us your bubble gum video to "after the bell." we love that. please come out, our goal, we'll get over $40,000. we're at 31,000 right now. we can pop through 40,000 in the next few days. help us out. let me tell people where to go.
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this is critical. bottom of the screen right now. komennyc.org forward slash fox. melissa: thank you very much. david. david: good stuff. no frappuccinos on the menu. than starbucks survive in the birthplace of the expresso? ♪ 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 of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands?
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melissa: starbucks is now open in the lapped of expresso, opening its first location in italy of all places. david: i don't know how this is going to turn out. the cafe is in milan. it's charging twice than what italians typically pay for one of those incredible italian expressos. and the location look as little differently. more glass and marble. but what finicky i italians go r
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substance. melissa: you want american coffee is what they say to me. david: here's for jeri willis what did you think of president obama's speech? >> when you hear how great the economy is doing right now, let's just remember when this recovery started. >> i'm sorry i watched it but i fell asleep. >> i'm glad it's continued. >> i think he's trying to take credit for this incredible thing that's happening to our country. >> when you hear about this economic miracle that's been going on, when the job numbers come out. >> if the democrats got in with their agenda in november of almost two years ago, instead of having 4.2 u
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