>> very nice. thank you for that up close and personal and has been an exciting show and on that note bulls and bear starts right now. . >> a new report saying america is now in danger of losing its title of the world's most powerful economy as soon as next year i am david has been joining me on the panel today is christina, liz and gary and jonathan koenig. the biggest tax cut beyond the ronald reagan tax cuts getting rid of the individual mandate mandates, the biggest cuts of regulations in the history of our country and we are going further. [applause]

that maybe the biggest reason our country is doing so much better and why we do so well. >> speaking to farmers today for his agenda that keeps the economy ahead of the rest of the world and now raising some big concerns that america could lose its crown as early as next year and never get it back. the british bank that has a lot of exposure in asia predicts we will fall behind china then behind india so are they concerned? . >> no. naturally first of all, i think this is a bogus way to look at power they are using something called purchasing power parity which takes into account that it really isn't gdp that is way ahead $19 trillion versus i think 14

for china so there is a substantial gap china has been growing faster so there was an expectation that china could overtake us but they should at some point it is a much bigger country in terms of the number of people so down the road presuming they continue to grow and become more productive they will be bigger and i don't see that as a threat in any way. >> i know you don't like the metrics used but what about the fact if you look at injury a one - - india the car sector which is doubted germany with the largest consumer of cars? that clearly shows some continued strength in that country over they are. they are massive so even though growing at a slower rate and india and the middle class continuing to grow that could potentially add some weight to the united states to take it down.

>> it doesn't take us down or make us any less important but those are big markets for us. >> i couldn't have purchase pairing parity five times fast. [laughter] china second china's economy is headed further south. our gdp is an absolute miracle. i don't know where they come up with these numbers we will continue to lead in technology and medical science you name it the universe undoes universities are getting better. >> i don't know about that. >> if we continue to be free china was dirt poor for hundreds of years when they transformed it even in a very

small fashion to become free in the most prosperous countries are always the most free it is a population or the numbers are the natural resources but the freedom that is what makes america literally america. david: recently they have been going in the opposite direction the president of china said he will be president for life that may be or have more to do with their slowdown than the us terrace. >> if they do go the other way that we don't have anything to worry about the problem is we are going in the opposite direction we are spending more and controlling more it is from within. >> i agree with you 100 percent and i do think the china story is at a tipping

point the state owned enterprises is the economy that doesn't work that is why they're trying to downgrade over time so no government controlled corporation has done as well as the free market so to the extent with china, we heard inevitability before japan was going to be but this is a time now wayne china has decisions to make and by the way i think the united states has decisions to make. >> of right-handed deblasio gets his way we will go big-time to the south i'd definitely agree with john one - - with jonathan i cannot believe how big our government spending is right now with $4 trillion coming out of the economy and 6 trillion local an.

something has to be done eventually so they have to do something or we will be overtaken i get it my friend. >> do you put the blame on the government right now for that political instability? yes we talk about that. of exceptionalism but we are focusing internally i don't think it will end anytime soon it could affect gdp going forward than the fact you are spending so much money to your point that a lot of the blame should be put on the government? . >> the size of government is a gigantic blob getting bigger and bigger. $4500 of our precious tax dollars goes to interest not the poor or the elderly or the children, but interest on the debt that these people in washington created.

if we don't change that trajectory, eventually there will be have to pay and nobody is talking about it. . >> i would also add is also the impression of the government intervening we had some policies being put forward how you pay your employees what type of vacation time this affects small businesses and this begins to crimp that entrepreneurial ability. if i was a young person starting up a business i would leave new york and go elsewhere but it will have an impact. with that kind of thinking goes beyond the bluest of blue states like california and new york. david: those are the rules and regulations that stymied entrepreneurs in europe. that's what hampers countries like france and germany and even england. >> that is so true.

the regulations are eliminated when they are free you get everything from the fracking and shale revolution with energy it seems benign like the cannabis explosion the industry coming up in the last number of years with tremendous advancements specifically for freedom. >> what about consolidation in the field of biotech and technology, and even entrepreneurs. all of those may have to leave new york. isn't there a time where these massive companies join forces trying to speak on behalf shouldn't we be concerned with the amount of power in these companies especially in the bio sector? . >> that's an interesting question is the farmer companies have gotten bigger the pipeline of new innovative drugs tend to get smaller

which is why they can go by other companies i don't think it's a great thing to have big companies getting bigger and we have that. by the way regulatory assault is why that happens because bigger companies can better expense and accommodate the regulations that are thrown their way and small companies cannot. it's not the only answer but it is one answer. >> as we continue to move forward every day i read about new cancer wonder drugs living 20 years later in new technologies and new kids working their tail off by putting up youtube videos. i think the best is yet to come but i just agree with jonathan 3000 percent. if they just get out of our way and leave us be in stop telling us how to do things and what we have to do. by the way from people who have never even run a business

like bernie sanders. and become a government one - - a big company that means you have done something right. i don't mind it one bit because i have seen those look what i have done something wrong there is nothing wrong with greatness. david: you are just talking about bernie sanders he is picking a new fight over 15-dollar per hour minimum wage as he looks to run for president. should we prepare for more government proposals as the democrats try to out left each other? as a fitness junkie, i customize everything -

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and they just came out perfect. - [announcer] check out our huge selection of custom apparel for every occasion. you'll even get free shipping. get started today at customink.com. david: calling the current $7.25 federal minimum wage a starvation wage, senator sanders is proposing more than doubling that to a nationwide $15 an hour as the 2020 field for president starts to take shape does the party move further to the left? . >> yes.

a man who is lived off of taxpayer dollars all his life telling businesses what they must pay but there are repercussions because somebody may only get hired at ten dollars an hour may not get hired at $15 an hour. on top of that businesses cannot afford it so guess what they do? less headcount in the restaurant robotics and technology. be careful what you wish for because less people working cannot be paying the taxes that you want. >> this is discrimination he is discriminating against low skilled workers from just getting their first job and moving up the chain into his point wages are not arbitrary they don't just pick them out of a hat with feeling but economic reality and supply and demand an employer cannot pay somebody $15 an hour for

$12 worth of work there is always been a loss of jobs but when this first started even in seattle when they instituted that minimum-wage people on the lowest and of the economic spectrum lost income that is a result. >> that is exactly right in history tells us that is accelerated because now you have real threats that did not exist 30 or 40 years ago but now there really is a problem like the fast food enterprises where if you raise the minimum wage like you are talking about bringing in the machine but even more simpleminded response that there was no way we should have the same minimum-wage in mississippi were a house cost $214,000 or san francisco where cost over a million dollars. the cost of living varies enormously by sector of country no way the federal government should dictate what people need to pay you have so

many states that have superseded the federal wage i really wonder how many people this impacts? i don't think it's that many. >> $7.25 has not changed since 2009 and that is a problem think of those people in mississippi making $7.25. but still that it is the average is the problem if we go to jonathan's point about productivity where wages maybe this should be a conversation about the lack of productivity in the united states that is a major concern. we are not seeing that growth we do talk about automation but there hasn't been a steep incline of productivity that bernie sanders is doing this as part of his presidential build he knows it will be killed in the senate. david: it isn't just bernie

sanders there are so many people on the left who are vying for the democratic nomination look at o-letter causey o-letter cortez will not be a presidential candidate she's not even 30 yet but if you look at her plan and that those trillions of dollars she plans to move from your pocket to the government sector is that a concern for anybody? . >> we can talk minimum-wage but it is everything there is not a day that goes by right now that i don't read something or hear something from the left about what more they want to do what i call the dictate or the government creep or the government getting into our lives everywhere every shape and every form and it is always into our pockets and wallets and into our heads about what

we should do or how we should do it. what i was reading about deblasio after bernie sanders and elizabeth warren, it is nothing more than people who have never even flipped a burger or wrote out a paycheck that are telling us what has to be done or how it should be done. every country that is when this way is heading south to make it sounds like somebody who is scared because you keep bringing up representative cortez who is an energetic 28 years old 29 but maybe it is the left in general they need to rebrand themselves being center is not getting them anywhere. so bring this new view and save minimum-wage it may not do it but we are talking about it right now which is a win

for them. >> but the most interesting thing the last election democrats lost the blue-collar worker who defected to donald trump because they are tired of losing jobs, not making money or see the wages go up. i think this shift left for the democrats makes it impossible to win those voters back. in the primary we will have a very big tension between addressing those voters of sharon brown and joe biden and going after the obama coalition the people are very excited about sanders but where will he and up i don't think they'll find a candidate who appeals to both. >> the left is very explicit to say you didn't know that whatever you earn is ours we can tell you how much to pay

employees unless the right can come up with the opposite to say no. you have the right to offer a job they have a right to take it and your money is your money because the left has a moral superiority to say no. what we are doing is right and moral. >> it is now mainstream and is no longer cute when i hear this young lady i don't care she 75 or 29 she is talking 70 percent tax rate. in 1975 weight. hold on. using her tax rates will stop at 10 million? there is no money up they are. in 1875 that was at 200,000 and up that is a 55 percent tax rate after reagan took it down to 28 percent do you know, what happened? revenue skyrocketed they don't

care about the revenue but they care about control and domination of your pockets and we have to be loud and clear to fight back. david: the age of teefive have not been told history it is so clear what gary just outlined a don't think it is taught in college economics courses to make it doesn't affect the rich but the people who are trying to get rich they take more and more as you move up the ladder. david: make or break time for theresa may will she survive a major vote tomorrow? we have the very latest of her victory or loss in a live report coming next from london. oh, that's great sarah. let's talk about this when we meet next week.

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david: tomorrow the uk

parliament will vote on the brexit plan we send ashley webster to london and what the outcome will mean for their economy and hours. i saw you earlier with nigel but he wouldn't say what would happen make no. use the word to shambles. he said it appears theresa may despite the last-ditch effort to persuade her opponents that her deal is the only deal available that it will go down in a vote tomorrow but the question is how big will the defeat to be if she loses by more than 200 that is humiliating a historic defeat for sitting prime minister in hard to come up with plan b what she has to do she would have three working days. she loses by a more narrow margin 45 or 50 that could give a little impetus to go

back to brussels to say give me a few more concessions and i can get this over the line but it is pretty slim but you have to bet 20 pounds to win once so they believe the deal is going or what - - nowhere. so she has to come up with plan b and beyond that who knows what could happen. behind me there trying to come up to sideline the government trying to extend the deadline for march 29 so there could be another referendum or no deal or just leave for the scenarios could play out but the bottom line she is facing defeat unless some miracle occurs then the uncertainty goes on.

>> you have the fact there could be they are expecting defeat they extend that with article 50 mende possibly go into a second referendum or they force the general election if they go down the general election route which is the least likely what you think would happen if jeremy corbin took over what does that mean for brexit? . >> that would not be good let's be honest he cannot negotiate any better than theresa may and we know how much of a socialist jeremy corbin is prickly would be terrible for the markets. the pound would drop the markets would take a hit. "the new york times" poll just came out today to show the conservatives has a six-point lead over labor. even though she cannot get the deal through that country he

tends to believe the labor party would have a good job to do that either certainly jeremy corbin i don't think enjoys widespread support so i don't think that would happen. >> it sounds like labor would be in a very good position except jeremy corbin but one of the bookmakers giving the odds on a referendum it seems like a likely outcome at this point that they call for a second referendum. what do you think? to make that's interesting and david mentioned nigel but the extension of article 50 to push back the deadline is that i favored as to what could happen. they are just running out of time and there is brexit paralysis of extending the deadline doesn't solve anything but it does buy them more time the second

referendum could be the second option there is a growing number that believes they should put the question to the people. do you want to accept the prime minister's deal or do you want to remain in the european union? we know theresa may said there is no more referendums the people have spoken that is the end of it. never say never. >> they are saying to say you can make it better or worse regardless of what happens with the vote i'm watching the british pound it has been rising against the dollar. is there a move for deregulation regardless of what happens if the uk has a real opportunity to distance itself from the e.u. to strike out and be more capitalistic but is that move among the people? . >> they are trying to play that down. the true brexit people would

like to say goodbye on march 29 to start operating under the wto rules yes there are tariffs but they would be unleashed to do trade deals around the world that they could not do with the e.u. and that could really unleash this economy in a way it could not under the e.u.. but the government says no. that's not a great scenario with shortages of food and medicine initially with too much uncertainty in the beginning but true capitalist would love to see a true brexit just say goodbye and that the country do what it wants to do. >> gary kaltbaum here. this has been going on for years so how much more uncertainty in the system

really affects the system? is not just the uk but other countries also on the outside looking in. that uncertainty is never good. your thoughts? . >> it never is. there is a sense of brexit fatigue they just can't seem to move it on. the vote was the easy part. let's leave but in reality the ability to do that with the agreement with everybody to get on board is proving almost impossible. i was here a month ago there was a lot more passion and protesters and media. it seems eerily quiet right now there is a sense for the love of god get something done yes or no we are done talking about it but i think they are stuck with brexit paralysis and it's not good for anyone. david: maybe it is the calm before the storm. we are glad you are there. have a good night the nation's

largest newspaper business in the hostile takeover bid if it goes through that will be the end of newspapers as we know it. are they right? whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth.

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swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. david: "usa today" publisher again that is the target of a one.4 billion-dollar hostile takeover bid a media company backed by a hedge fund known that is slicing and icing to cut cost one of the largest genes in the country owning 200 publications "the denver post" and the boston herald. it has lost 40 percent of its value over the last two years it's easy to see why it is a target "usa today" and other publications benefit or will it be the end of the american newspaper industry? . >> it's not the end of newspapers but it is wake-up

call for again at. the last four quarters, sales have been down they tried to buy tribune and that did not happen. i love "usa today" some are four pages long with a bunch of advertising you have to get better good newspapers are here to stay but you have to look over your shoulder somebody is coming at you. >> you have to adapt even to thrive or survive. even all those hedge funds to slice and dice a lot of people might need to be fired or layoffs. elevator operators had to be fired along the way this is part and parcel of a dynamic economy that we have so much animosity for the hedge fund hostile takeover they own the company and i applaud them because unlike employees just complaining these actually put their money on the line and

invest in the company. >> it does seem that the company is doomed for as shakeup it needs to be streamlined and more efficient. that's what they want to do i don't see how this threatens the industry. a lot of things that threaten the industry today mainly having to do with online competition. i don't think this will have anything to accelerate that process in any way. >> this is a perfect opportunity to say no to all of you. i went to journalism school cutting 30 jobs in 2018 you don't think these newspapers are trying to adapt? they are using storefronts they are changing the format formats, artificial intelligence they are doing all kinds of things but yet they are losing their viewers and subscribers because people don't want to pay. i feel for those journalist

and now all of us just use the same one article because one journalist wrote it because there's not enough think of all of those out there that have literally change the world like watergate you can say it is the right versus the left or the trumpet administration but they have done a lot. >> there is more journalism now than there has ever been we have seen the rise of citizen journalism and facebook pages. >> you cannot run a business that way the government cannot tell you how to run a business the markets will have to cut people change resource allocations. david: there are a lot of institutions sometimes it is a much smaller story like city

hall newspapers in particular like "the new york post" for example, put the politicians feet to the fire and if we lose the few that are left i'm thinking of mayor diblasio increasing spending more than any other mayor in the history not enough people are focused on what he is doing with that money. you have the oakland newspaper called the express they are moving to a freelance model you are only paid if you write and they successfully choose your article this will discourage the next generation of journalists they don't want to go because there is no guaranteed stream of income. i do is say they need to adapt but do not discount all of these journalists that are complaining about getting their jobs cut. >> but welcome to the world.

. >> welcome to supply and demand with business. there is more journalism now than ever i never heard of axios before. we could go back and forth but all i'm saying is the markets will work themselves out and anyone that loses their job because of consolidation then you find a different company to go to. . >> then you see those business models evolve you could be sponsoring a journalist you can be sponsoring christina for all you know, this can be

a bright new future. david: coming up next we are live from the national retailers federation where tens of thousands are testing out new technology designed to bring in new customers the newest innovations enough for struggling retailers? place, the xfinity xfi gateway.

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david: as retailers like macy's and jcpenney's are crossed with holiday sales the national retail federation kicking off a tangible show to use new technologies to get more shoppers into the stores. christina is there so what kind of technologies are we talking about? . >> robots roaming around i have in the innovation lab right now but i have to go to my key is a big brains behind a lot of this the carpet cleaner that i'm thinking of how does this function with businesses? . >> this is a totally different way to do robotic automation for order fulfillment or e-commerce or store restocking to the shelves. >> so if i want to drop it in

the red box and in the blue box it could do that? . >> yes the robots know where each item goes it is scanned by the overhead scanners so it looks up to send it to the right location we can make systems much bigger than this but tens of thousands per hour. >> in dealing with the for the biggest retailers for out of the biggest 15 with that innovative technology so now we have to continue moving on so just to show you the future of how retailers are advertising their products like nike you can have 3d holographic technologies if you walk into a store look at that all of this could be 3d this is just some of the examples that the innovation lab in new york city.

>> a lot of what you seeing are the efforts to get people into the stores or is it just to cut cost the first segment seems like a cost-cutting adventure that it seems like it's appealing to the consumers what is a bigger thrust? . >> that's a great question because there is another robot behind us right now who picks things off the shelf and they have to accommodate with a push to online with more businesses want to cut cost that way unfortunately that means automation and we could get into a conversation how labor is affected but yes however an interesting trend is yes we buy online but brick-and-mortar is still so very important when we add on items you buy online you go to the store there is a lot of opportunities when customers walk into the store to get the items they ordered online most likely they'll add a pack of

gum or the socks with that sweater that i ordered these are added opportunities that show it's not the death of the brick-and-mortar store. >> before the mall isn't the important thing to recognize the story like sears going by the wayside to do stuff different? and then to put a gargantuan jim another put a school into the mall another is working on the aquarium is that the shape of things to come? . >> maybe the whole experience maybe that whole scene is not as popular as it was there hasn't been as much talk about the experience. they are animated talking about a strong economy and they want to leverage that but in terms of the experience with supervision or others you could customize your own shoe

using a scanner but now you see that with urban outfitters for example, or you could get your hair cut at american doll for children to make terrific reporting all day today from the show how much today is this more about services than merchandise so how much are those focusing on the service you get in the store? . >> great point we are in the innovation lab and how they can cut cost to get to the consumer that you have a massive conference and it is a big point of conversation but

really that is the consumer or to cut cost. david: you did a very good job today president - - president trump just arrives back to the white house making comments to the press on the cell phone we are expected to get the tape in the moment it has been two years since the soda tax and the verdict isn't very good wait until you hear the impact that any tax has on the city of the residence next. apartments become houses, cars become mini vans. as we upgrade and downsize,

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i'm relentless. and my doctor and i choose to treat my metastatic breast cancer with verzenio. be relentless. ask your doctor about everyday verzenio. david: the soda tax in philadelphia. it was designed to make people healthier along with raising revenues. residents remained defind. there is new research that show philadephians haven't cut calories. most of of them drive outside the city limits to buy the sodas. those who can't drive, the poorest, pay the most of. >> an assault on people who want to drink a soda. in chicago they instituted a

soda tax and everyone drove to wisconsin to stock up on sodas. the point here is freedom. why the government needs to punish you if you buy a soda or smoke cigarettes. >> this comes under the heading of one word, duh. we can just go next door and not have to pay the taxes. they called this a seine tax. it's now a sin to drink soda. i'm surprised the soda companies didn't jump down their their throats, or maybe they did. >> i think you are all being kind about this tax. it wasn't even a nanny tax. it wasn't even trying to get people to behave better it was

money grab it was also on unsweetened beverages, coconut milk fan juices. it was money grab supposedly to go to the public schools, and i suspect they haven't seen a dime of it because people went elsewhere to buy the drinks. i thought from the beginning it was an atrocity and it has not worked. >> both gar crane liz. it wasn't about combating oh piecity. which by the way, 4 in every 10 americans are obese. this is supposed to be a revenue stream for them. you saw people just driving their cars further. if you want to take the whole environmental route. taking their cars, using gas to

go buy their soda outside philadelphia. david: it hurts the poorest people more than anybody else. appreciate it. that does it for "bulls and bears." president trump: i want people to come into our country. but they have to come in legally. >> the government remains shut down for one reason and one reason only. the democrats will not fund border security. liz: that was president trump in new orleans today not backing down on the shutdown showdown. we have new live sound of the president back in washington, d.c. he has more to say on that.