tv The Evening Edit FOX Business September 18, 2018 5:00pm-6:00pm EDT
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predicting that robots will displace 75 million jobs over the next four years but create 133 million new ones, just look at all of the jobs we have now. melissa: it's like the industrial revolution. there you go all right that does it for us. david: the evening edit starts right now. >> there are a lot of people who have seen the great trade deal we made with mexico the progress we made with europe, the fact that we're still moving forward with the canadians. the president has been re negotiating and improving deals, but the biggest challenge of course is china, and you have the cea put out an estimate last fall china is stealing intellectual property theft and force transfer between 1-3% of gdp every year so china has to show up and hopefully they will soon and come to us with an offer that says we're just going to join the communities of nations and behave like an adult country but they haven't been doing that and as you mentioned we've got all of the amo. >> president trump says china has been taking advantage of the united states on trade for years
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and that he is going to stop it. china now retaliating with tariffs on $60 billion of american goods after president trump announced new 10% tariffs on $200 billion of chinese imports, steve forbes will weigh in on all of it and supreme court nominee judge brett kavanaugh says he's ready to testify on monday about sexual assault allegations against him but his accuser has not yet agreed to appear at the hearing we'll bring you the latest on that story plus, spacex announcing the company's big falcon rocket will fly the first tourist into space in 2023 we'll have about that and the nearly $13 billion needed to start a u.s. space force. thank you for joining us thank you for watching money, politics we've got the detate i'm john layfield in in for elizabeth macdonald, the evening edit starts right now.
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the dow surging 184 points to 26 , 246 the blue chip index highest finish since january as investors brush it off between the u.s. and china more on how it affects your money in just a second but first details on china retaliating with its own tariffs on $60 billion of u.s. goods, after president trump upped the stakes for beijing. announcing new 10% tariffs on $200 billion of chinese imports that will go into effect on monday. the chinese tariffs will apply to 5,207 u.s. products, including farm goods, machinery and chemicals. meanwhile apple avoiding trump's tariffs on two of its most popular products the apple watch and its headphones. won't be affected by this round of tariffs, apple shares ending the day closing at $218 a share and now the justice department reportedly ordering two state- run media companies to register as foreign acts as u.s. officials ramp up the fight against foreign influence
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operations and toughen their stance on china politics with me is edward lawrence live in d.c. on the latest on the trade war. edward? the chinese quickly put those tariffs into place 5-10% on $60 billion worth of goods that we import into china, and as you said they go into effect on monday, september 24, the same day that the u.s. imposes that 10% tariff on $200 billion worth of chinese goods, that tariff from the u.s. goes up to 25% on january 1. now, the chinese or spokesman for the chinese foreign minister says that the u.s. tariffs are unacceptable and they go on to say, "the latest steps taken by the u.s. has also brought new uncertainties to the consultation between our two sides." we hope that the u.s. will realize the negative consequences of its actions and take credible means to correct them in a timely manner. now they're referring to a meeting that's been setup between the ministry of commerce officials in china and the treasury department officials here that meeting is supposed to
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be here in d.c. at the end of september. president donald trump says that china has had a year to come up to the table and work out the issues, specifically changing systemically the issues with protecting intellectual property as well as opening their trade barriers or opening their markets because and eliminating trade barriers but they still haven't. president trump: we are the piggy bank to the world. we've been ripped off by china, we've been ripped off by, excuse me mr. president, the european union, of which you're a part of we've been ripped off by everybody, and i want to protect the american worker, the american farmer, the ranchers, the companies, and we're not being ripped off. reporter: now in a statement last night the white house put out saying that they would go to phase iii on these tariffs if
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china retaliates. china did just that today saying they're going to retaliate the president has threatened to put an additional $267 billion worth of chinese products under tariff that would essentially be everything that china imports into the united states. china, again saying today, that they would impose countermeasure s if the president again goes further. john back to you. >> talking about these counter measures implying something further than the tariffs what do they involve? >> that's one thing we don't know the chinese are being very vague, they do hold a lot of our debt and also could put up other barriers to u.s. companies trying to get into the markets we have heard anecdotal evidence from companies saying their perishable goods have been stuck for snap inspections at ports in china, so there may be non barrier barriers they're putting out and those products have just gone to waste but the chinese not being specific but saying they will add extra counter measures. >> edward thank you very much. president trump arguing his
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tariffs are popular with working class supporters who leave china undercut american industry with unfair trade practices the president tweeted earlier today saying china openly stated they are actively trying to impact and change our election by attacking our farmers ranchers and workers because of their loyalty to me. what china does not understand is that these people are great patriots and fully understand that china has been taking advantage of the united states on trade for many years. they also know that i am the one who knows how to stop it. it will be great and fast economic retaliation against china if our farmers ranchers and/or industrial workers are targeted. joining me now is steve forbes. steve, does the president know how to stop it? >> well, the key thing is what are the best methods to stop these trade abuses which have been going on for years and it's not just we've been complaining about it the europeans and canadians have been complaining about it for years as well. i think a more effective approach would be a laser-like a each pro. you pick out a few companies,
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banks, and say these bad practices are not ceased, not stopped then china does not begin to adhere to the world trade organization agreement which it signed almost 18 years ago, measures will be taken. for example, start with a small bank. kick it out of the swift system, that in fact puts them out of business and then you say you've got five big banks. if things aren't changed, we're going to pick one out that we think has been abusive and tariff ic that deadly action. you focus like that with the united allies or alone, we're big enough i think you'd get a reaction. >> we've picked the trade fight with most of our allies right now and you have a problem of perhaps a negotiation between the eu and china or japan and china actually forming a coalition against us. your solution which sounds very reasonable and logical doesn't have to do with tariffs. do you think tariffs is the wrong way to go about this? >> we should remember tariffs are sales taxes. we're putting sales taxes on american businesses and the american people. i think the president short-term
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people say okay, that gets the thing done we'll bear the pain, but it's going to eventually bite and hurt, and so why do we use those kind of taxes when we've got other methods that can achieve our purposes by focusing on china, not hurting us. >> the tariffs you have the 10% tariff going into effect on monday. you have 25% tariffs that start to ratchet up in january right after the mid-terms. this sounds political to me and not very, not very transparent. >> well i think everyone knows the president's pointed out that the chinese are picking a specific product with political results in mind, so we're doing the same thing. shock-shock. no shock there at all, but the key thing is what is the best way to go forward and the chinese are figuring, like the iranians, that if they wait out the elections i think they're mistaking they can win this thing and so i think there's some miss calculation going on,
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whereas if you focus on a specific bank or a specific industry or a can full of companies and individuals, sanction sanctions, you think bad things have been done that gets results i think very quickly without harming us. >> steve it seems like miss calculation is on both parts like we're underestimating the chinese economy has fallen off a cliff and they're underestimat ing us that we have a divided nation in a recession we can't handle that seems like a stalemate from both sides where is the off ramp for china? what lets president xi save face but get rid of this trade war? >> i think in effect the chinese will say we never did the things you accused us of but we're not going to do them again [laughter] and so they're very, this is why you have diplomats to come up with ways where you come to an agreement with everyone saving face and we forget a few months ago the chinese agreed to buy $70 billion of our product soybeans and the like, the president said that wasn't good enough which shocked the chinese
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and said why did you send your chief finance minister over and he didn't have the power to do a deal but you do something like that where the president can holdup a piece of paper and say this is a billion dollar order for soybeans, everyone can declare victory but the key thing is, dealing with specific abuse, allowing more of our companies to come in, allowing not being forced into forced partnerships and the other thing the reason why we want to get our allies on board is they start to play divide and conquer they go to german automakers and say our markets 50 million cars in a few years versus 16, 17 million total u.s. market. we'll allow you to put factories in. americans, no, so we've got to move now. >> i think you could help the negotiation process, steve. >> we just want to win. thank you for joining me. >> thank you. president trump saying earlier today how the chinese markets are dropping on the tariffs take a listen. president trump: our market is going up like a rocket ship. i don't want that market to go down but their market is down 32
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% in three months, because we can't let them do any more what they've done, but when you have $375 billion in trade deficits, and then many billions of dollars in other liabilities of all different types, you have to do something about it. >> here now with how those tariffs will affect your wallets our markets panel, bulls & bears buddy money manager gary b. smith and jonas max ferris, the u.s. imported chinese goods last year gary b., i want to start with you. the market is up today at least. it seems to not carat all about this potential trade war. does it care? >> it's the trump tariff trade i guess, [laughter] the more he talks about it the higher the market goes. we should not care, and here is the reason why. everyone here hears that 200 billion number and they think that it's 200 billion in taxes and it's not. that's the amount that's going to be taxed. that amounts to even john even
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if at the 20% level only .2% of gdp but wait, there's a lot of mitigating factors. one you know there's a lot of exception to that as companies line up to say oh, no, we can't live with that. two, you've got to collect it all. it's hard to collect these tariff taxes, just doesn't automatically flow like making an amazon purchase and three there's substitutions. you know people say well i don't want that kind of steel i'll take this different grade of steel and finally if that's not enough smart countries like china like the u.s. do you know what they will do they just ship their goods to another country, that doesn't have their tariffs, vietnam for example, maybe korea and then the goods come through there. i wouldn't say this is all about nothing but i don't think it's anything to worry about. >> jonas, do you agree with that, the steel tariffs by president bush had to be retracted, and did not seem to work, do you agree with gary b.
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that this is not a big deal, that china will just get around these tariffs and the market has no lasting effect from this? >> yeah, first of all we don't know what working is with these tariffs first of all. we have a permanent tariff we put in place that brings in money and doesn't radically hurt the economy, maybe that is working in trump's eyes and it seems like from the stories he wanted to increase tax revenues to offset the needed corporate tax rate cut which we needed and to gary's point they do the same stuff collecting money from corporations and they route the money through ireland and that's a difficult path too. anyway the point is that the corporate tax cut and individual tax cut is higher than this tariff, 10% you could put on all of the chinese goods its already beaten by the tax breaks in our economy and into an already hot economy so that's probably one of the reasons the market here is not falling and is falling in emerging markets particularly china. it's basically a value-added tax , we're adding it to stuff that comes out of emerging markets and right now it's china
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and hopefully won't spread to all our trading partners but it won't be that much of a negative at this level. >> it's great to see you both you'll both be joining me later in the show which is good news for me and my dad because he loves watching you goes more than he does me. let's take it to the markets check on your money three major indices ending the day in the green. our own gerri willis is on the floor of the new york stock exchange with the latest. gerri: john the big day in the marketings today the dow ending up 184 points all three indexes higher, and up 255 points driven higher by united technologies, boeing, caterpillar, 3 m responsible for half of the dow's advance and these are stocks that trade with tariff concerns, so the fact that they were higher means that tariff concerns are lower. also want to tell you about a loser today that's general mills , that stock down almost 8% today as they reported a revenue miss in earnings, the company is saying they've had a decline in their north american business
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and one piece of good news for that company sales for the division were higher by 14%, john back to you. >> thanks gerri. gillette showing up nike taking a different approach, honoring a one-handed nfl linebacker and instead of the polarizing colin kaepernick. coming up we have a new ad, also tonight, this is president called prepared by celebrity chef while his nation saw it. we have the pictures. but first, supreme court nominee brett kavanaugh's exposes are coming to his defense. here is what they have to say in his defense after this. (vo) when bandits stole the lockbox from the wells fargo stagecoach,
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party but judge kavanaugh is very anxious to do it, and a delay is certainly acceptable, we want to get to the bottom of everything. we want everybody to be able to speak up and to speak out. the fact is though this should have been done a long time ago, and when senator feinstein had judge kavanaugh in her office for a long time, she never even mentioned this. >> president trump saying his supreme court pick, judge brett kavanaugh is anxious to testify about allegations that he sexual ly assaulted a 15 year old while he and the girl were in high school an accusation he denies, but so far his accuser, christine ford, has not agreed to appear at a public hearing scheduled for monday. kavanaugh was defended by two former girlfriends, watch this. >> he was a responsible guy. he was someone who did have a beer, but he was never out of control. he never became someone different after drinking. >> and all of the time, all of the years i've known brett, even if we had a beer, he was always
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in complete control and he was actually one of the guys that if we were at a social gathering he would be the guy to look out for other people. >> in all of the years i've known him over 35 years he's been nothing but honest and trust worthy and respectful. >> and this just in, the other person who is accused of being in the room during the alleged assault, says he never saw kavanaugh act in the manner the accuser described, and has no interest in speaking publicly about it. joining me now former george w. bush deputy assistant brad blake man. brad, this is the supreme court. you've had the hearings. you've had brett kavanaugh there for 32 hours in congress, a meet with senator feinstein while she had the letter in possession and now this comes out later. this is crazy to me. i'm not talking about the claims that i don't know but this is nuts to me the timing of this. >> look it doesn't pass the smell test. dianne feinstein had a letter from an anonymous person. she could have easily brought it
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to her colleagues and said that i have an hads anonymous allegation against brett. what do you want to do about it? they could have proceeded in a manner that was timely and fair. they chose not to do that and this letter suddenly surfaces after the hearings are over and by the way then she becomes a public advocate of her allegations and then refuses today to appear on monday at a hearing. no. no prosecutor based on this thin evidence and the length of time of these allegations would have ever acted on this, and now, they are going to ruin a man's career based on an allegation that is not could be rated, has never been corroborated and the one witness has told us it never happened. >> now you worked with brett kavanaugh. i did. when you were in president bush 's white house, so you know him personally right? >> i do and i work with him every day. i saw him socially. i saw him professionally. i worked with his wife ashley in the west wing. he is central casting for what
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we would want as a supreme court judge. he's had a stellar career, dating back to his high school days, and i've known him to be at the highest caliber. i'm a lawyer. if i were in trouble he would be my lawyer, and as a judge i have full confidence and respect in him. >> there's no other skeletons in the closet. it sounds like this guy, i don't know anything about this incident i don't know if it occurred or no one is in the room except for judge kavanaugh one of the person who claims this incident did not occur but other than that he's had a choir boy reputation. >> this is the kid who asked for more homework. >> always hated that kid. >> but you respected him because he's the real deal. he lives for the law. he lives for his family, and he lives for his religion and the accuser i have to tell you as a lawyer, i parsed out the evidence that has been made public. i don't see any evidence to warrant the type of attention that's being given. >> so what happens now?
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if the accuser doesn't show up then surely i guess judge kavanaugh doesn't show up either , is he confirmed? >> yes, i think he is because the senate is bending over backwards to accommodate this outrageous allegation and if she does not take the opportunity to face brett kavanaugh and to face the american people, she shouldn't do it behind closed doors, and then brett kavanaugh has the right to defend himself after testimony. that doesn't happen i think the senate has no choice but to close it down and base his confirmation on his record and his testimony before the senate. and you think that happens all before the mid-terms? >> it has to happen before the mid-terms because we need judge kavanaugh and then justice kavanaugh to join the court as they start their session in october. >> that's fascinating stuff thank you very much. it's a pleasure. >> thank you. >> at least 32 dead in the aftermath of florence as floodwaters continue to rise. president trump heading to the carolinas tomorrow to survey the damage. steve herigan is live in north
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carolina with the latest. reporter: john the rain stopped in this part of north carolina and yet the water here keeps rising this is water from the cape fear river backed up water really with nowhere to go. you can see a number of the stores here are partially flooded and the water continues to rise. we've seen merchants go inside the stores to pull out what they can that's still dry or stack stuff up on tables. the real concern is what happens if this river crests at about 2:00 in the morning today, at peak height of 61.5 feet if that happens we could see catastrophic flooding here for a mile in each direction. we saw them just evacuate a fire station down the road. officials here say they don't know what's going to happen in the city of 200,000, you can see on this street a lot of cars turning around they've setup a roadblock a few minutes ago more than a thousand streets and road s across the state are blocked off right now including some major ones, parts of i95 also blocked off the water rescues are slowing down. a lot of members of the military have been carrying out those
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rescues more than 2,000 people rescued but the real issue the real debate is how high is this water going to go in fayetteville, north carolina. john back to you. >> steve god bless you and all those people down there thank you. gillette showing up nike, taking a different path, honoring a one -handed nfl linebacker instead of the polarizing colin kaepernick. coming up, we'll show you the new ad, but first the venezuela president prepared by celebrity chef while his nation starves. my next guest says this is what happens under socialism, former special assist to president special assist to president trump joins me next.and i'll ald that we're not just building
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with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. >> as venezuela struggles to survive the countries economic crisis the president maduro was photographed yesterday eating an each pensive steak in a trendy restaurant and this as they find more than 30% eat only once a day. joining me now former special assist to the president trump
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mark lotter. mark it seems crazy to me, socialism has never worked and you can never find an example but part of the democratic party they are in horrible disarray right now but as the republican party was in disarray say in 2010-2012 he influenced a lot of the elections do you see the socialistic wing of the democratic party emerging and affecting some of the elections coming forward? >> i seriously hope not and i think as the democrat party lunches further to the left they are going to lose many of the people who might just be say just left of center they used to call them blue dog democrats back in the day and when folks like that are looking at what the democrat party has become i'm not even sure if they would recognize it and they have to realize that this is where they're taking their party in the future, and to put a finer point on this, 75% of people in venezuela are starving. the average venezuelan has lost 19 pounds. this used to be one of the
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richest countries in south america and they have run it into the ground. why would we want to do that here? >> yeah, it's an incredibly gorgeous country and chavez has just absolutely ruined it. speaking of the socialism that chavez brought in, bernie sanders was interviewed by comedian sarah silverman. listen to this. >> we can't even use dirty words. >> i can't? >> no not in the united states senate. we just stalled little children we don't bomb houses and buses of children and we give tax breaks to billionaires but we don't use dirty words. >> [laughter] now marc, so i don't take this at face value but the socialistic party that bernie sanders so represented and hillary clinton tagged to the left after her loss in michigan which i think hurt her in the general election, this party it seems to me is taking over the democratic party. does this not raise a lot of concern how about our country in general? it does and remember we had that
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poll out about a month ago or so that said more democrats now a majority of them think more favorably of socialism than they do capitalism for the first time in history, and you look at the fact that two leading democrats, the democratic leaders in the house of representatives were defeated by socialists. they have socialistic candidates running for governor in multiple states. this is where they're going, and but we've got the facts on our side so when you look at the economic boom you talk about it every day, john, and the incomes and the stocks and all of the things that are going right why would we want to turn this way and turn our country that far radically left? >> marc, a lot of things are going right the tax cuts attributed to 40% of the increase in earnings for corporate america, cutting regulation our unemployment is at historic lows but president trump has missed on one thing boasted about great new trade deals but so far none of the trade deals have materialized. what do you make of this and when will a deal get finalized?
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>> i think it's coming in short order we have agreements with south korea already, the eu, they are just putting the fine language together. these are not simple, they're very complicated deals that have to be worked out so once you've got the agreement you have to let the lawyers and the experts work out the fine tooth details but we see it working. we see the president's leadership whether it's with the eu, south korea, mexico already, and we will soon have canada in line as well, i'm sure. then we can confront the real challenge we face in china which is what the president long said this is fighting for american workers so we shouldn't rush this just to get this out on some sort of artificial timeline , the deals are there these countries want to deal with the largest economy in the world. it's in their best interest. the president is going to get the best deal possible. >> it's in our best interest too. so far the deals have not been sign but the deals are pending
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and hopefully comes to fruition sooner than later thank you very much for joining us. thank you, john. >> elon musk announcing space spacex, and a physicist is here to talk about the future of space tourismism after this and gillette taking a different approach than nike honoring a one-handed nfl linebacker instead of colin kaepernick, we'll play the ad after this. ♪ 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. add-on advantage. so i got an offer and now i'm thinking... i'd like to retire early. oh, that's great sarah. let's talk about this when we meet next week. how did edward jones come to manage
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>> let me give you a better understanding. it's all about work. putting in the work. putting in the work. and he believed, he believed. i'm never going to give up. >> gillette taking a different approach than nike, earning a one-handed nfl linebacker shakee m griffin revitalizing the brand's 30 year old the best a man can get and gillette says that the nfl rookie knows that nothing comes easy from earning defensive player of the year in college and hard work and a dedicated father helped him overcome any obstacle we are proud to share his inspiring story and taking a stock check nike closing the day 2% higher but the owner of gillette closing slightly lower joining me republican strategist ford o connell. wendy i want to start with you
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because this nike commercial to me was fantastic. i loved it, and there was so many good things about it so it's what's so great about sport , however it was narrated by a person that is very polar izing mr. kaepernick. is gillette what they're doing here and this story by the way of shakeem, the fact that a guy is playing with one hand in the nfl is just something that i wish every kid in america could see you can do anything you want in life in this world, is gillette taking the safer approach here, is this the best business plan? >> you know, i won't take anything away for shakeem. he has sacrificed but the thing with defensive player of the year when he was in college colin kaepernick was offensive player of the year when he was in college not to mention in his division he was also the person with 10,000 passing yards and 4,000 rushing yards which is the first of his time so yes, they have both sacrificed it doesn't have to be a binary decision and more importantly, let's talk
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about the fact that collin colin kaepernick is not en auto in the nfl any more so he continues to sacrifice every day for racial injustice and that is this movement so yes you can have two heros we do not have to pick one and so i tip my hat to shakeem and also colin kaepernick. >> and sport has been full of heros you look at muhammad ali who sacrificed in the 1960 who protested for the vietnam war and protested in the 680 limb picks and you look at people overcoming things sports is always at the forefront from jackie robinson and it's what's great about sports, and colin kaepernick would be in the nfl right now if it wasn't for the fact that people didn't want to deal with a divisive figure and perhaps a distraction. my question to you, ford, is how is history, you believe, going to look at collin because we look back at carlos and smith in the 680 limb picks in mexico and look back to muhammad ali very
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favorably. how will we look back at colin kaepernick 20 years from now? >> we don't know to be perfectly honest with you, tommy and carlos in the 680 limb picks it was a very different time, the 68 summer riots but right now, there are very few things as americans that bind us that certainly isn't language and religion. it may be sport hopefully it is sport but so few things left like the flag that it may not be looked on as fondly as a 68 olympic moment with folks raising their fist to your original question i will say this about gillette they are taking a safer marketing approach because essentially americans love underdogs who overcome ridiculous obsticles regardless of political strife and anyone who say shakeem should have been inspired right then and there but i will say this about colin kaepernick. maybe he will make his way but i don't like the nike ad, because it just spotlights him and essentially lines his pockets
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and obviously nike fought differently because they decided to run a second set of ads that does spot lit more people overcoming obsticles other than colin kaepernick and frankly colin kaepernick is a back bench player. >> no he's not. >> yes he is i know a lot more about football. >> oh, you know more about football why, answer that question first. >> because i played college football. okay. >> why do you know a lot more about football and colin kaepernick? i know about football is it because i'm a woman? >> no because you stated something wrong. colin kaepernick was not the offensive player of the year in college football okay? that is reserved for the heisman trophy winner. but shakeem griffin was the defensive college player of the year. you misstated a fact. >> i did not misstate a fact. okay the facts are this that in his division, he continues to have the most passing and rushing yards. >> yes, do you know what division that is? that's called the mountains west
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>> well you just said i misstated the facts. >> guys? >> okay then i was corrected, put your foot in your mouth, thank you. >> nothing like talking over each other. people can't understand you but i played professional football and also coached so i think colin kaepernick would have a spot in the nfl somewhere, if not for the fact that he appears to be a distraction by most. >> that point i do agree with you. >> ford and wendy thank you both very much for being here tonight. >> thank you. >> elon musk announcing spacex will fly a japanese billionaire for its first ever private tourist to the moon. we are here to talk about the future of space tourism, next.
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- at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. each of these food boxes represents a gift of life for people here in israel who are in desperate need. these are very difficult times for israel and the jewish people as the government spends more and more of it's resources for battling terrorism. the situation has become a crisis. every week the lines get longer and longer. there are more people who come than they expect
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because the numbers keep growing. the bible teaches, "blessed is he whose help is the god of jacob." "he upholds the cause of the oppressed and gives food to the hungry. this $25 food box will provide one desperately need family here in israel with food, with hope and with a note inside each of these saying that it is from christians and jews in america who seek to bless them. with your phone call right now a food box will go out to one desperate family in israel. inside the food box is a special note that will bless them and will let them know that america stands strong in solidarity with israel in their struggle for survival. many of these people are ill, they're sick, they're alone. they don't have the money to afford
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things that many of us; most of us take for granted. i ask you to please help. go to your phone and tell us that you stand with israel at her time of need. israel and it's people need your help now. you can make a life changing difference by calling and saying that you will give a $25 food box to help a family in need in israel. thank you and god bless you for your support. >> it's dangerous to be clear. this is dangerous. this is no walk in the park here when you're pushing the frontier
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it's not a sure thing. it's not like just taking an air flight somewhere. there's some chance that something could go wrong. >> spacex revealing that the japanese billionaire will be the first tourist in space set to fly around the moon on the companies next generation rocket known as the big falcon rocket the trip is expected to launch in 2023 to date only 24 humans traveled to the moon the last one made the journey in 1972 at the end of the apollo program let's take it up with author of the future of humanity, joaning us over the phone. doctor, i've got to tell you first, i was looking at some of your videos today i'm not sure i'm smart enough to do this interview but i'm excited to have you on the show and i want to ask you about that apollo program. it seemed that in 1972 when president nixon canceled the apollo program and went to the shuttle program that we lost our fascination and we lost the desire to explore deep space.
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was that a mistake by the president to do that? >> yeah, i think so, you know when i was a kid, the headlines were dominated by astronauts and then nasa got stale. it became the aging seat to nowhere. the thrill was gone but now the thrill is coming back. this time it's billionaires setting the pace. we have people like elon musk of tesla motors, jeff bezos of amazon, richard branson of virgin atlantic, three billionaires that are taking it away from nasa and they want to go back into outer space. the thrill is coming back. >> the tourism space flight itself that go around the moon they won't land around the moon but orbit around the moon, the japanese billionaire is taking himself and six of his artist friends, people who have been to the moon have had deep religious experiences having been there. tell me about this flight. >> yes, first of all, it's a
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new rocket and the media i think missed a big story. the bfr is really a mars rocket. elon musk already has the falcon heavy. the falcon heavy is a moon rocket capable of orbiting the moon but he wants to go even beyond the falcon heavy. the bfr is a prototype of a mars mission, because elon musk has a dream and that dream and vision is to become a multi-planet species so he's way beyond simply bidding the russians in the 1960s and way beyond simply going back to the moon. >> doctor, president trump is planning to create a u.s. space force as a separate military arm , the air force now estimat ing it would cost $13 billion in its first five years and also require cop greg all action this is strategic competition with both russia and china and i want to ask you specifically about russia that developed this weapon called the hyper drive which is something the united states has they said they will have this in 2020.
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does this put them ahead of us in the space race? >> well yes but it's of marginal importance. the hypersonic drive, for example, is a weapon that on re entry can maneuver usually an icbm, when it comes back into the atmosphere has limited maneuver ability and therefore could be a sitting duck for a star wars system so that's why the russians want to make a hyperdrive device which can maneuver in space, and so they can evade a star wars system. now, it turns out that the united states tested its own version two years ago, but they were very unstable and it's very difficult to control an object coming in at several types the speed of sound and have it evade a star wars system, but you know , because the russians have announced they're working on it, we too are now working on it and so yes the chinese are also now working on these weapons as well >> doctor, thank you very much, this is absolutely fascinating stuff. appreciate you calling in.
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>> okay. yes. billionaire elon musk speaking of the billionaire in hot water electric car company tesla is now under investigation by the u.s. justice department and its stock dropping nearly 3% today. (nicki palmer) being a verizon engineer is about doing things right. and there's no shortcut to the right way. so when we roll out the nation's first 5g ultra wideband network, it'll be because we were the first to install the fiber-optics and small cells, and upgrade the towers that will change the way we learn, work and live. and i'll always be proud that we're not just building america's first 5g network. we're doing it right. money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does.
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>> electric car maker tesla in hot water confirming its under investigation by the justice department over public statements made by its founder elon musk. the investigation comes on top of a civil investigaon by the securities and exchange commission and lawsuits from investors. tesla shares dropping more than 7% on the news. but closed the day down 3%. tesla's lue has fallen by almost a third, since musk initial tweet with nearly $18 billion off the value of the company. money guys are back with me.
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jonas, i want to ask you your guy who covers elon musk knows a lot about the electric car industry. is musk and the entire company of tesla in trouble of survival here? >> there's no question they're in trouble of survival and this situation might only make the problem worse. there was already the ongoing problem that these cars don't seem to be economically feasible currently. maybe in a few years if they can keep raising money but then it went off the rails with these tweets and we'lle cash flow positive and again under the world of like donald trump and tweets it doesn't seem like a big deal but with the sec and doj you can't just it becomes stock man epidemic you legislation to say oh, we've got a deal that will go through at some high praise that happens to be the code name for smoking marijuana or whatever and then the stock goes up and you got convertible bonds that may or may not be converted stock mapulation it's a very serious offense he may not have been aware of and i'm not saying he did those things but the doj and sec wants to know what's the story, did you have a deal and
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to make things more weird it seems like the saudis are invest ing in a competitor start up which doesn't make sense because people thought tha was going to give them the money it's very very strange. key investors behind this company now think it's hard to look at the company seriously and no one knows what the future will be particularly with gulators and wall street. >> gary b. i want to switch gears and ask you about ryan fitzpatrick the quarterback of the tampa bay bucks, taking place of the former heisman trophy winner, they beat the team 11-5 last year the new orleans saints and this guy is from harvard, but he comes out dressed like he was from the game of thrones. you remember jim mcmahon, of the chicago bears? >> i do. your great team of the washington redskips, is this god 's gift to the nfl right now? >> [laughter] i tell you what, he may well be. i mean, you know, i think what the nfl needs right now, john and you know it, it needs excitement. what do we have more ties in the
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first week than ever in the nfl, the restrictions on the hitting, the tackling, have really i think dulled the game down but look, i'm here in florida i'm rooting and proud that the dolphins are finally 2 & 0. i'd might be rooting for a contenderer after all these years. >> all your teams are doing well with the dolphins and the b uccs right now. reminds me right now of tampa bay. gary b. and jonas, thank you as much as always. >> thank you. the president set to visit florence-damaged north carolina. more on that after the break.
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sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ john: north and south carolina residents struggles with record rainfall from hurricane florence damaging tens of thousands of homes. some rivers in the area still
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continue to rise. fox business will bring you all the updates. thank you for having us in your homes. our friend charles payne is here with making money. charles: the markets shrugging off the trade war as the dow finishes at its highest level since september. hours after president trump slapped new tariffs on chinese goods, china announced $60% on american goods. president trump addressing the latest on these tariffs. president trump: we are the piggy bank to the world. we have been ripped off by china and the
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