stories and questions at propertyman@foxnews.com. i'm bob massi. and i'll see you next week. [ woman vocalizing ] thanks for joining us bulls & bears starts right now. david: hi everybody this is bulls & bears thanks for joining us i'm david asman joining me on the panel today lauren simonetti is here as well as danielle, gary kaltbaum in person in new york and adam lashinsky as well now take a look at this stocks slammed over reports of a deeper economic slow down in china, worse than economist economists predicted a slow down that the president says he should get credit for take a listen. president trump: but i will tell you this. china's economy, if it's in trouble, it's only in trouble because of me. that's the only reason it's in trouble because we've taken in $11 billion worth of taxes that i tax china. $11 billion. we never made any money with

china. we lost money with china. in the last four months, we've taken in almost $11 billion of taxes nobody has ever heard of that or knows that. people don't report on that they only report on nonsense. david: so folks the question here, should we be celebrating china's economic weakness, the markets going to be saying no what do you think? >> yeah, let's rip on a place that only those 14 trillion gdp number two in the world and say let's have their economy go down that won't affect anything around the globe, but look i'd love to give him all of the credit in the world but europe, germany just contracted, which means the rest are going to contract also going into probably a recession and they have no amo there because interest rates are already negative and they may stop print ing money, maybe, at least they say so, this is more of a worldwide phenomenon but it does not help when the president talks down that big of a country mistake. >> well i would add to that so he talks about the 1 billion in taxes, he's referring to the

tariff payments that china has made to the united states but that's not taking into account what u.s. businesses alone have lost in lost sales because of the tariffs. >> a ton. >> so for that number to mean anything you'd want to do that accounting and then you'd say well how do you feel about that, mr. president, and so gosh, gary it feels so good to agree 100% with you it's rare. >> i agree with the both of them. i mean, we're all in agreement today, because if the number two economy in the world slows, then a consumer of so many products is slowing down, you don't want anybody to slow. global growth is what you need and the fact that we have you went through the list gary i think you stole my notes in the green room because i have all of those things, the ecb cutting their economic forecast, italy all of these issues how does the u.s. continue to grow? so you wouldn't want to top down china or any country of that size. >> look i'm going to jump in here. i think that president trump is probably pouring salt in the

wound at this juncture. to all of your points we live in an interconnected global economy , when you read things like chinese retail sales drop into the lowest level since 200o the lowest since 2002 this is not pure chinese government data manipulation to use as a trade war negotiating tactic. this is a true slowing, and you know, we're starting to see ripple effects in countries like for example, australia that has had an ongoing economic expansion for 27 years i'll push one of gary's hot buttons it had the most prudent central bankers outside of those maybe in pole and but we're starting to even see true economic strong engines of growth be effected by this. we have to remember that china's the largest exporting nation in the world, followed by the united states, followed by germany. there's no reason to think we should be able to be strong if

both of them that are in the united states are weak. >> and i agree with that completely. now what i would add, what the president might add is that we have some real disputes with china. he's been pushing those, to his credit he's been pushing them more loudly and more aggressive ly than president obama was. david: or anybody. >> whose also pushing those, these aren't new issues but yes he's right to do that, but he might step back and say huh, i wonder what the impact of this will be not just on china, not just on the global economy, but on the u.s. economy and jobs in the united states, and that's where it becomes complicated and david i don't think it's unfair for me to point out this president doesn't like complicated. david: well he doesn't like complicated but on the other hand he does know how to get certain deals done. he did it with mexico, he did it with canada maybe the market thought he was going to be too successful too quickly with china, but if china really does feel the pain and they have and let's not discount the fact that

they have been offering stuff out there, i know it's a small order of soybeans but they did cut the cars down from 40 back to 15%, there are signs of movement on intellectual property, so, i mean, if there was ever a time, nobody said it was going to be easy. there's a reason, adam, why not only obama but every president whose tried to do this has failed to get them. it's going to be hard stuff. >> it may not make a difference let me make a point. it may not be the most important thing for all of the reasons we've been discussing, china has its issues including some severe structural problems, and so their economy is slowing, period , and then there's what do we do about it? >> let me talk about two words and this is what i call the big vote and that's the markets. the markets are voting with both hands right now. they are yelling and screaming at all the leaders of the world, that something is very very wrong, and to throw salt in the wound right now is a huge

mistake which leads me to the other two words, and that's wealth effect. i am 1,000 percent sure a lot of the economy, our economy and economies around the globe, over the last few years, have been doing well based on the wealth effect off of the central banks around the globe. if we lose the wealth effect, we're going to get a double wamm i to the downside, and guess what right now trillions of dollars are being lost in markets around the globe. >> i want to add two things to this first of all the presidents tweets move the market they influence business decisions we've seen that time and time again. the president tweeted today he did not move the markets higher when he was saying hey, we're doing great in this trade war with china. >> that's the boy who cried wolf. >> the markets up 200 points. >> there's a trade war and a diplomatic spat and we're doing both at the exact same time and one will undercut the other when you're trying to change practices, the way china does business, when you're arresting and detaining individuals like

with huawei case. >> uh-huh. >> that could undercut the trade policy that we're trying to work on. david: well on the other hand there are movements all over the place. there have been overtures to china done publicly and one must assume very privately as well that look, guys if we get real movement on the trade front we're not going to let the huawei prosecution get in the way of that so some people are upset about the fact that the rule of law might take a back seat to our trade concerns but i'm wondering, why the way, we're not the only ones looking at the market. the fed is looking as well at next week the fed was due to raise rates that's what everybody thought, could the markets swoon today and if it continues into monday could that affect possibly stop a rate hike next week? >> the only former federal reserve employee on the panel, i'll chime in here and say there's no way in the world that jay powell come next wednesday does not raise interest rates. we have seen too much, but the

retail sales data that came out this morning, it was glossed over because there was so many other international things buffeting the market today, and as well as individual company news, but the fact of the matter is, retail sales came out much stronger than what was expected and there were upward revisions to the prior month, so we know this, and jay powell is going to be focused on the data and he has already -- david: well i hope he's focused on inflation also because there hasn't been significant moves in inflation. that's what should move not whether the economy is growing strong. i don't believe in an overheated economy. >> yeah, but there's no doubt he's going to raise he loses credibility if he doesn't. >> absolutely. >> i think that's it next year. i think that the markets are speaking to him and he's already said in 2012 that investors know that we have their back, that was basically his exact quote. i think they're done at that point maybe that backstops the market i'm not sure. david: i want to get another market story in here that we've

been following very closely. johnson & johnson shaving about 100 points off the dow today with its biggest drop in 16 years, this after a scathing new report, alleging the company knew for decades that its baby powder was contaminated with asbestos. let's go straight to gerri willis at the new york stock exchange what's the latest? gerri: david, reuters out with this bombshell report that pharma giant johnson & johnson has known for decades that its iconic baby powder has contained small amounts of asbestos, that's a synthetic powder and of course known for causing cancer. the headlines emmy mate from several internal documents and memos that j & j shared with attorneys of clients who claim the company's powder products were the cause of their cancers. j & j releasing a full statement listen to this. this is what it says in part. simply put, the reuters story is an absurd conspiracy theory in that it apparently spanned over four years orchestrated among generations of global regulators

, the world's foremost scientists in universities leading independent labs and j & j boys themselves. johnson & johnson's baby powder, they say, is safe and asbestos- free. now david, shares of johnson & johnson closing down 10% and that is the biggest percent decrease in that company's shares, in 16 years, so a big day for j & j, a big day for the markets down here too. david: and this story is not over for j & j. we may hear more on that. gerri thank you very much. well if you thought facebook's privacy woes were over you better think again. a new bug exposing photos that you haven't even publicly posted yet this is affecting millions of users, tens of millions, could you bw one of them? more on that coming up next. >> ♪ ♪

comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods.

simple. easy. awesome. click or visit a retail store today. david: facebook is now disclosing details of a major bug in their system that may have exposed nearly 7 million user's private photos to app developers. the company plans to notify people. joining us now is forbes publisher and author of

countless books and essays in the tech world, my buddy, rich cargride. so rich you don't think that a lot of facebook users care much about this, right? >> well i really don't, the fact there are more than 2 billion facebook users, the vast majority of them are people like my wife, who loves facebook , could care less if you think about some of the things that interest the punt itry, facebook is a political football these days, the popular right and left dislikes them and so i think facebook has got problems going forward, their growth of new users has slowed, their share of social media has gone from 18% down to 14% in the last two years, and even most critically their advertising revenue has slowed. they're going to have to find new sources of revenue at that company. david: well rich it's funny you mentioned your wife loving facebook i think there's a meme here because i'm in the same exact boat i stopped using facebook but she hasn't and i

kind of yearn for it but i think it's a very good product but i kind of liken these problems facebook is having to the problems of the electric utility in california pg& e is having they provide a lot of electricity to a lot of people and do a good job but if they have one fire that kills 86 people in the northern counties from san francisco they have huge problems on their hands and i think that's analagus to the problem facebook has with people stealing their data. if just a few people are hurt it's bad news for them. >> well i wouldn't elevate it to that yet, adam. i think the big pearl harbor out there or the thing that might equate it to a fire that takes many lives would be if charles s chwab got hacked and people lost their 401 (k) overnight. it remains to be seen what kind of damage that 6.8 million people having photos that they didn't intend to share with facebook are shared. >> so i've got a question for rich. rich, do you think that the changeover in the house of

representatives come january to democrats is going to cast a brighter light on a lot of these companies that some in congress would much rather have broken up do you think facebook is going to be at risk of anything that extreme because again we're going to have a change of leadership in the congress? >> yeah, we also have a change in the attorney general in william barr. it'll be really interesting to see william barr through the department of justice uses his anti-trust weapon to go after companies like facebook. i think politically facebook is a big target as is google, but economically amazon is the one to watch particularly out of the doj. >> right. >> so rich, facebook waited three months to tell us about this breach and in europe the rules are you've got three days or you pay up. do we go more in the way of the way europe regulates? >> i sure hope not, because where is the great technology company that's come out of france? you know? i mean, i really think that our

wild west attitude out here, its got some unsavory aspects to it but it also produced the four most value all companies in the world right now all of them tech companies. >> rich i watch facebook pretty closely and all i can tell you is it just feels like murphy's law right now. it seems like every week, something else comes up, whether it's millennials going away, this new news where they had to be on the hill, do they need a change in leadership eventually not necessarily zuckerberg but others? >> boy that's a tricky question you know, when you have these brilliant founder ceo's at some point they all reach a challenge , a major challenge. bill gates reached it at microsoft in the late 90s, michael dell reached it when their stock stopped depreciating , larry ellison had to bring in an outside ceo at oracle, steve jobs had to spend 11 years outside of apple before he came back, and was a really good ceo the second time, and

yeah, mark zuckerberg and cheryl sheryl sandberg have arrived at that point, i hope they can grow but maybe they can't. david: by the way i hope no hackers were listening to your suggestion that maybe some hack er would get into our 401 (k). talk about scary ideas that's one thing to scare the heck out of me. but blockchain technology some people are pointing to blockchain technology, is a possible technological solution to this. that somehow the blockchain technology will provide a buffer between the user and the hackers that we don't now have. do you know anything about that? >> i think blockchain has been oversold. i think it's sort of hard to tease out what's really valuable there, beyond cryptocurrency. cryptocurrency clearly has been oversold. now i've been told by some people who are really smart that come the day when quantum computing overtakes the current computer architecture and goes up by leaps and bounds, and being able to then at that point

to basically hack into anything, unless you have great ways of blocking, then blockchain really becomes important but i think it's one of those technologies that is really three to five years out there before it has any meaningful impact. >> yeah, let me augment that, david give you a slightly different answer. if facebook were built on blockchain, then maybe, then the answer would be yes, but the problem is facebook is not built on blockchain. it's built on the internet, as is everything else that we know about so blockchain can't sell those problems. it can only sell new problems. >> and i mean just if you want to back out to the perspective of a shareholder when it comes to stock like facebook every single time you have a scandal like this break out this is just like what's been happening to the big banks in the united states for the past few years and the increasing cost of compliance. every time facebook has to deal with one of these upsets, they have to spend more and more and more money to safeguard privacy and from the perspective of the shareholder, that means that

it's going to take, that the bottom line of the stock is going to keep taking a hit. we have to remember that facebook stands for the f in fang stocks and that is a big part of what has been pulling this market back, for the past few months. >> but a lot of people are separating the different fang stocks, if you will, and saying do you know what? facebook is a different story now we can't lump them together with the netflix or apple, because they face different issues. the facebook problem is very different. >> well apple and of course now we have to mention microsoft once again, it is in a three horse race with amazon and apple to be the most valuable company in the world on any given day, and apple and microsoft are arguably value stocks. they don't have these price earnings ratios, and when you look at amazon, it does but when you look at amazon's cash flow, you know, it's pretty solidly valued right now. facebook is valued on its growth prospects and the growth prospects have slowed

particularly its revenue growth. david: rich, always a pleasure to see you please come back and see us soon. thank you very much david and the gang. david: well gm is making an offer to some of the workers it planned to lay off. is ceo mary bara buckling the pressure from lawmakers and president trump, should she be buckling we'll debate that coming up next. ♪ voice-command navigation with waze wifi wireless charging 104 cubic feet of cargo room and seating for 8. now that's a sleigh. ford expedition. built for the holidays. and for a limited time, get zero percent financing plus twelve hundred and fifty dollars ford credit bonus cash on ford expedition.

david: we have some very exciting breaking news president trump made a decision on his chief of staff, at least temporarily just tweeting this out moments ago. i'm pleased to announce that mick mulvaney, director of the office and management and budget will be named acting white house chief of staff. acting. notice that word. replacing general john kelly, who has served our country with distinction. mick has done an outstanding job while in the administration and i look forward to working with him in this new capacity as we continue to make america great again. john will be staying until the

end of the year he's a great patriot and i want toly thank him for his service. i should mention mick mulvaney has two very important jobs. one he's the head of omb, office of management and budget he deals with that $3.5 trillion national budget and the other thing he does is handle the bureau of consumer financial affairs this is the bureau that was started by liz warren, and in itself is a bureaucratic mons trocity, by some accounts but he handles both of these organizations so gang what do you think about moving him over to chief of staff? >> first off what he was running monstrocity was being nice. i like the guy, i love his interviews he knows his stuff. i just have one simple message to the man. discipline. the white house needs discipline and it needs better consistent messaging, and good luck. >> he's known as the axe man. he's all about cutting in

government spending. his personality is always what gets me he seems to upbeat, so i'm curious how he's going to drive home a hard message and control everything and still have that smile. will he have that smile when he's eventually done as chief of a staff and who replaces him at omb? david: or the other organization bureau of financial affairs, go ahead, danielle. >> yeah, i'm curious to see what i would have loved to have seen elizabeth warren's reaction to this appointment. but i don't want to be a debbie downer for a minute, but we have to recall a big survey came out yesterday that showed 48.6 chief financial officers in this country believe we're going into recession in 2019. what better person to have as your right hand man than mick mulvaney, he has a deep understanding, experience prior to going into government, he had experience in business and real estate, you want somebody who has a great foundation, understands the economy, understands how businesses work,

if the u.s. economy is truly heading into a slowdown. >> so i'll say something else kind about him. he also has experience in electoral politics actually more than the president and that's a good thing in this role but we need to keep in mind the president has chewed up and spit out anyone in this job before, and he will do the same thing to mick mulvaney. i would say mick mulvaney is the patriot for taking on this assignment. david: well there's another patriot we're going to bring on right now a guy who works for us chad pergrum, the senior capitol hill producer a guy who knows everything about what goes on inside the beltway. his name, chad, had been put forward by a number of different people but everybody thought he's so indispensable where he is, with the omb and with the liz warren monstrocity, as they keep calling it how can he be replaced? >> i've been getting very subtle hand signals for some time now that he might be the chief of staff and now going to be the acting chief of staff.

he knows capitol hill he has strong relations with the house freedom caucus the conservative group on capitol hill which he helped found when he was a republican congressman from south carolina and you know, this is key. if we're going to go into this potential government shutdown, a week from now, having someone as conservative as mick mulvaney, whose tied with the freedom caucus, that could spark a shut down right there if he's wisperring into the president's ear. this is something that folks on the left and people who are opposed to the wall certainly won't like but he does know his way around capitol hill which is something that the president is definitely going to need. >> well on this shutdown, i've gone through the past going back to the 70s the most, i think 21 days was the most, the average is 1-3 days. do you have a feel on whether in the backchannels things are coming together to where they can get something donald if there is a shutdown it'll end very quickly? >> we've got a little bit of a tip this afternoon that there

might be some behind the scenes negotiating on a two week interim spending bill to get him through christmas and the new year when the democrats take over the house of representatives on january 3. this will go to january 4, but that seems to be dead in the water. first of all, there was one top democratic aid who said to me, well that means that president trump loses twice. he doesn't get in december and he's certainly not going to get it in january. you're right about the length of these government shutdowns. we've never quite had a government shutdown with a new congress coming in. we have had them over the holidays though in 1995 december into early 1996 they had a partial government shutdown, there was a series of three in this big standoff between president clinton and then house speaker newt gingrich but each time they had a shutdown they opened up more of the government so this could be a similar model to what we saw in late 95. >> what do you make of the messaging of this shutdown? we had one back in january and if you ask me the republicans messaged and owned that shutdown

very effectively, but this time, the president wants to take credit for it instead of blaming the democrats in their messaging what do you make of that? >> well you know a few weeks ago, president trump said to the house incoming house speaker nancy pelosi if she needs the vote, i can help her out. well after that meeting at the white house on tuesday, guess what? he helped out. if there was any question among democrats that she didn't have the juice to be speaker of the house after that meeting, she picked up the extra votes there. david: let me just throw in a couple of things to be contrarian here. one is that markets have actually done pretty well the last three government shutdowns markets have reacted positively during the duration of the shutdown, last time the market was up 3%. the other thing is that there was a big shutdown recently that happened just before a mid-term election and even though republicans had been targeted as responsible for the shutdown, they won that election, so the argument can be made that the shutdown might not be political krypton i'd, right? >> sometimes we're at the

furthest point away right now from the next election we're 23 months so if you'll have a shutdown who remembers? you referenced the shutdown in 2013 over defunding obamacare well guess what the republicans won control of the senate. david: exactly. >> but here is the key thing. i wonder what the optics are going to look like if the government is shut down and the president has said i'm going to take the mantel, you can imagine the political cartoonists, the grinch who stole christmas, a heart two sizes too small, all of the different narratives that play into the holidays there, the democrats will eat that up, especially since the president already -- >> by the way when i saw them -- >> go ahead. >> contrarian to that i think the voters who support president trump, i think he's fine with this, because he's carrying through on a campaign promise that he shouted about at his rally. he's going to build that wall and if he can't and whatever that means, by the way, because $1 billion, $5 billion who cares i just don't think his voters are going to blame him for that. >> and you're right and that's an interesting point and i

talked to one very senior conservative congressman who said he's always stuck in the 40 s so he probably doesn't care. here is the flip side there have been a lot of republicans in the house of representatives who have said they didn't think the gop got the message of the mid-term election, losing control of the house of representatives, because this type of issue and that kind of confrontational politics that works in red america but in, you know, these suburban districts especially with female voters that doesn't work out and that's why they think they are whistl ing past the graveyard in the post mortem of what happened in the mid-term elections especially among house republicans. >> chad what if we get a deal for a wall and something for daca and dreamers? does that get us with both sides want? can they agree to that? >> i specifically asked house minority leader nancy pelosi that a week and a half ago and i said what if you got, you know, a daca deal a permanent bona fide deal for some degree of

wall money and she said absolutely not. i think she believes she has the upper hand here. at that point she said these issues are not connected and especially since the president, you know, took claim there's no reason for her to deal. one might wonder how much this does hamstring her in early january when they get control of the house of representatives. i asked pelosi that yesterday and she said well how long would this shutdown go on? would it go on forever? and that's why some people think maybe there's this backchannel effort to put out this fire pretty quickly and at least have an interim spending bill to avoid a shutdown at christmas. >> you know, i think if you back out to what we are seeing in the markets today what we're seeing in the economy today the last thing we need right now headed into christmas is more uncertainty. the markets have a million sources of uncertainty and anxiety, you know, today the biggest bond fund manager in the world said they see a 30% chance of recession in the next 12 months. i think that the uncertainty associated with the government

shutdown is the last thing the markets need at this juncture, given how shakey things are right now. david: danielle, i know you think that and you would think that, with regard to the markets , but in the past three partial government shutdowns, the markets have been positive for the duration, and again, chad, bringing it back full circle to mick mulvaney, he does have that legislative experience and he certainly knows the budget better than anybody inside the beltway, right? >> right and being budget director you're looking at all the federal spending, you know, here we're just dealing with specific appropriations but you're right. he will be charged with putting together the president's budget request, you know, come february or so. he does know the spending issues but at the end of the day, look at how small the menu of items are. i said this to somebody earlier today. it's like you go into a diner late at night and they tell you well we have a limited menu at this hour. there's only a limited menu of options available. either they pass a bill that funds all seven appropriations bills without the wall, they

pass one that has all seven bills without, they do an interim bill, they do six bills and then an interim one with for dhs, there's only about five conceivable options right now, to put on that legislative griddle otherwise, the kitchen is closed. >> chad correct me if i'm wrong though, politically, when the president said you could put it on my back, a shutdown nancy pelosi and chuck schumer looked like the cat who ate the canary. david: [laughter] >> and they looked like they're ready to just, you know, ramp it up and go after them. the media was going crazy over it. i got to think this is political nitroglycerin for the republican s. >> well, yeah, and that's why people were so worried about this here on capitol hill you talked to republicans and get them off to the side and they are like that was really about as bad as this could possibly go here is another thing with the democrats, as they try to fight back here, i talk about that post-mortem of the election. that's something that they say,

you know, we can champion this and paint republicans who are too close to the president would voted for the shutdown who want things that are too extreme. they think they do have the upper hand here and this is why nancy pelosi she really didn't have to do very much in that meeting. she just kind of sat back and it did probably help her wrap up those final votes here but again , here is the striking thing. the capitol is basically empty at this hour here. david: we can hear the echoes. >> exactly. a week from now i wonder how many reporters are going to be up here. how much scrambling a undercut rosenstein in the hall, and again, a lot of people think that this is a tactic to maybe squeeze the president. condense that amount of time, that they have late next week, to get a deal. you know, if you're condensing the time either you'll have a take it or leave it situation otherwise if the president goes to mar-a-lago, if the president is portrayed as the grinch as i said and they're playing the raven's croft song or something

like that then you can see where the democrats don't have much to do and say see this is why we won the mid-term election. david: i've got another animal analogy. i think the democrats look like the dog that caught the car. you never want the dog to actually chase the car because they never expected him to say that so who knows. he may have made a big mistake but he may have hit upon something and we'll see how it all plays out. chad we're so grateful you could make it here for this breaking news i appreciate you being with us. >> thanks for having me. david: well did gmc eo mary bar a just bow to pressure from lawmakers and the president? that is next. (vo) 'twas the night before christmas and all through the house not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive

at 11:59.

bike, wheels, saddle. i customize everything - that's why i switched to liberty mutual. they customized my insurance, so i only pay for what i need. i insured my car, and my bike. my calves are custom too, but i can't insure those... which is a crying shame. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

president trump: but to tell me a couple of weeks before christmas that she's going to close in ohio and michigan not acceptable to me and she's either going to open fast or somebody else is going to go in but general motors is not going to be treated well. david: so a day after trump gave that warning to gm the auto

maker now says some of its workers who would have been laid off can transfer to other fatalitieses in other states where the company says nearly 3,000 jobs are available, so gang, did trump's tough talk yesterday work? >> no i don't think so and i'm not sure maybe you guys can help me understand how he's not going to treat gm well except for using them as a punching bag for 2020. i have one word answer and that's "yes" become she moved towards him, because she's getting bad press on a daily basis, but i must say, there is nothing i like about a president targeting companies because they're doing something in their best interest. whose next? who is he going to go after? is somebody that the president is going to do something? i complain when obama did it and i am when trump is doing it. >> and the wall street journal editorial, this is about as un republican as it gets but not inconsistent i'm sorry go ahead. >> no, i was just going to say

that the problem with casting a constant dark light on general motors is that it's like a contagious disease it keeps on giving other ceo's and cfo's ideas about maybe i should also get in front of the slowdown. i've been hearing from a lot of my company contacts they're hearing from their upper management they're now looking at layoffs. i wish he would move the spotlight to another subject. david: in defense of the president here, there is no company in america that is more in debt to u.s. taxpayers than gm. they still owe $11 billion, so the fact is that they are caught in this bind that they put themselves in by taking all of the money so there is some influence. look what obama did on electric cars? >> but it sets a bad precedent and i go back to the two words, whose next? everybody has to worry about what the president thinks on a daily basis. it's not supposed to be that way >> and the president has to worry about ohio where a lot of the layoffs are happening because it's a swing state and he needs it. david: last word the clock is

ticking for congress to come up with a deal to fund the border wall and avoid a government shutdown. right now they're not even in washington. they're on vacation until the middle of next week and the only bills they come up with are farm bills that a lot of people are calling corporate welfare. is it? more on that coming up. >> ♪ ♪

comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.

yeah, i've had some prettyeer. prestigious jobs over the years. news producer, executive transport manager, and a beverage distribution supervisor. now i'm a director at a security software firm. wow, you've been at it a long time. thing is, i like working. what if my retirement plan is i don't want to retire? then let's not create a retirement plan. let's create a plan for what's next. i like that. get a plan that's right for you.

td ameritrade. ♪ david: after eight months of debate, negotiation congress finally voted to approve a massive $867 billion farm bill that will provide more than 400 billion for agricultural subsidies, conservation and food aid now added to the president he's expected to sign it but gang, a lot of these subsidies are going to rich food companies , even iowa governor or republican senator chuck grassley, he is a farmer. he was outraged because the package gives federal subsidies to distant relatives of farmers who don't even farm so is this just corporate welfare and should the president veto it? what do you think? >> look, i liken it to how i heard it first described as welfare for the rich. this is ridiculous this is the united states of america, we're supposed to be a capitalist country when you hear

the word subsidy your skin should crawl. this is a huge bill. look back to president clinton, if you must. look back to president clinton, because he pushed through welfare reforms that at least made people who were capable of working be able to work in order to get subsidies and this bill does not even do that. the gop, the republican request that in order to receive food stamps, food aid, you had to be able to show that you could work this bill, this farm bill -- david: it takes away the work requirement for ablebodied people to get food stamps yeah. >> it also makes us look a little bit foolish when we lecture other countries with their subsidies or the ways they support their industry and the only way we can say this has been going on for decades literally back to franklin roosevelt and there's no swamp draining going on there's the opposite. >> it's bipartisan. >> exactly. >> let's remember this is not a tax cut where a person keeps more of their earnings or the corporation keeps more of their profits.

this is a gift from the taxpayer to the biggies, and it is just another example of these people that are running the country that are not acting the best interest of the people, but in the best interest of themselves and who they can favor with and unfortunately, you know, aunt mary and uncle bob with the two acres of corn will get a little bit of money but the big guys get most of it. >> sugar and corn. >> a lot of the recipients are actually people who live in the city. they aren't people who farm on farms. >> incredible. >> the fifth fifth avenue farms : david: well to gary's point 60% of all of the subsid ies go to 10% of the richest farms and most of them are owned by these big corporations. it's not like your old family farm business, so should the president veto it quickly? >> yes and my i state this was also signed off by conservative republicans i want to make sure that's noted: david: not grassley. no he shouldn't because this is the oil that lubricates not just the economy but the political

system and to veto it, it would be to upset the apple cart too much if i can mix it. >> it sounds like a swamp creature talking. >> [laughter] >> i understand. >> i'll be the outlier. i say wildcard he vetoes it. david: all right we'll see. he does like that. so folks, do you want your coffee delivered straight to your door? >> yes. david: do you need it delivered straight to your door? details of what starbucks is now brewing up, that's next. >> ♪ ♪

david: starbucks announcing he'll partner up with uber eats to expand their delivery service to 2,000 locations by early spring. starbucks tested the program of deliver relationship over the sumner miami where apparently people are too busy getting a tan to walk a few blocks to get a cup. outside of miami will this work? >> i am old enough to remember the idea of corporate coffee shops was a bad idea. starbucks is already delivering in china. most of people hate waiting in line, right?

>> 14,000 locations. the company ratcheted down its growth the aspects. ordering on uber eatser. >> one of the -- uber eats or one of the other' things. you may not want to spend $10 or $15 for a cup of joe. >> we have a bubble in delivery. 5 four starbucks within a mile and a half of my house. just go out and get. gee whiz. >> the problem with this story and the reason they are testing it in miami is it's warm there. you can probably keep the coffee hot in is no way in new york city even if the starbucks is across the streets and they are delivering it to you and it will be hot.

david: i live in manhattan. we have four starbucks of within a block of where i am. i don't see this. i understand adam what you are saying. they brought that concept of the coffee house to the united states from europe where it succeeded. i don't see that. >> everybody is doing the delivery thing. i guess there are things to come. >> you have got to be careful, young man. >> millennials won't get off the' couch. i am not a millennial. >> but you are still right. > they have foot and snacks. maybe you need a cd to be delivered, too. they are testing a different

retail concept. i think it's smart. >> we'll see what happens. they are not a dumb company. we appreciate it with all the breaking news. that does its for bulls and - [announcer] the following program is a paid advertisement for the philips airfryer xxl, the healthiest way to fry! what could be better than delicious, crispy fried food? healthier fried food. with the introduction of the original philips airfryer, eating healthy changed forever, allowing you to enjoy all the flavor and taste of french fries, fried chicken, and your favorite fried foods, but with little to no oil. it was quite simply a healthier way to fry. since then, over eight million philips airfryers have been sold, making philips the number one air fryer in the world, and now, the philips innovation team has done it again with the twin turbostar powered philips airfryer xxl, our biggest and most powerful air fryer ever, with twice the size as the original philips airfryer.