10 downing street in the uk where prime minister theresa may is set to make a statement at any moment after she did survive that no-confidence vote earlier today. you will see it live here on the fox business network. melissa: don't turn away. we will bring it to you live. that does it for us. here's "bulls & bears." david: we have breaking news. british prime minister theresa may is going to be making remarks at any moment from number 10 downing street, where she's living for the moment. this after surviving today's no-confidence vote in parliament. the panel is with us but let's go first to ashley webster, who has been following all of this from london. what is she likely to talk about? reporter: well, i think she will just reach out to the people of britain and tell them that she reaffirms her pledge to deliver brexit, what they voted for more than two and a half years ago. it was a message she brought to the house of commons after she survived that no-confidence vote by just 19 votes. she was expected to win, of course, but now she has to feel

the pressure of finding some sort of way forward. can she compromise, will she give up on some of the red lines that she so doggedly defends, the european court of justice, customs union, free movement and of course, let's not forget the irish backstop which has really been a real hurdle to moving this process forward. all of this is up for debate. there's been a number of politicians on the opposite side of the aisle who have said they want her to absolutely put on the table the chance of no deal going away. they want her to affirm that there's no chance that the uk will leave with no deal. she has not done that. quite frankly, that's the only power she may have over the eu because that's the one scenario the european leaders do not want to see. it hasn't gone away yet but i think as this churns on and on, the chance of brexit on march 29th being pushed back becomes more and more likely. >> steve forbes here. what are the one or two things that would win over reluctant

members of the conservative party such as the ability of britain to negotiate its own trade deal outside of the european union, or the irish border? what are two things that could bring over enough votes where she could have a chance to get something through this parliament? reporter: i think -- i don't think on the conservative side to the right there's anything she can do at this point. what they want, you know this, is to just drop out entirely, cut all ties immediately, start operating under wto rules. they say that look, yes, there will be short-term pain but we will figure it out, everyone will want to trade with us and we will do just fine in the long term. i don't think anyone in that group likes what she has suggested now. they believe it's a soft brexit, still too many ties, but if the prime minister does give them what they want, there's no way the majority of parliament would agree to even more anti-eu if you like measures within her agreement. it's really a very difficult line to bridge. david: forgive me for

interrupting but here comes prime minister theresa may. let's listen. >> this evening the government has won the confidence of parliament. this now gives us all the opportunity to focus on finding a way forward on brexit. i understand that to people getting on with their lives away from westminster, the events of the past 24 hours will have been unsettling. overwhelmingly, the british people want us to get on with delivering brexit, and also address the other important issues they care about. but the deal which i have worked to agree with the european union was rejected by mps and by a large margin. i believe it is my duty to deliver on the british people's instruction to leave the european union, and i intend to do so. so now mps have made clear what they don't want. we must all work constructively

together to set out what parliament does want. that's why i'm inviting mps of all parties to come together to find a way forward, one that both delivers on the referendum and can command the support of parliame parliament. is it now the time to put self-interest aside. i have just held constructive meetings with the leader of the liberal democrat and the westminster leaders of the smp. from tomorrow, meetings will be taking place between senior government representatives including myself and groups of mps who represent the widest possible range of views from across parliament, including our confidence and supply partners, the democratic unionist party. i'm disappointed that the leader of the labour party has not so far chosen to take part, but our door remains open. it will not be an easy task, but

mps know they have a duty to act in the national interest, reach a consensus, and get this done. in a historic vote in 2016, the country decided to leave the eu. in 2017, 80% of people voted for parties that stood on manifestos promising to respect that result. now over two and a half years later, it's time for us to come together, put the national interest first, and deliver on the referendum. david: all right. there you are. short and sweet. british prime minister theresa may just announcing, of course, she did survive a no-confidence vote. her brexit plan did not survive at all. it went down in flames, it's fair to say, yesterday. it was the largest defeat by number of votes that you have ever seen in parliament, but she

did survive no-confidence saying she's going to put together a bipartisan group of people to try to come up with some answer to how to exit from the european union. ashley webster has been following all of these fascinating developments. ashley, interesting to note that jeremy corbyn will not be a part at least for the moment of that bipartisan group. reporter: it's interesting, because he has often complained that he was being ignored by the prime minister as she tried to get this deal put together. she has apparently invited him to meet with her one-on-one this evening and he refused. so not a very good start to putting out the olive branch and he just kind of said no, not interested. i think that's part of the message here we just heard of let's put our national -- this is for our national interest, put your personal politics aside. and you know, she's saying all the right things, but ultimately, it comes down to what is she prepared to compromise and what is the other

members of parliament, what are they willing to compromise to put together something that the eu could work with. it's a very tall order. >> it's robert wolfe. nice to see you. i have been listening to you off and on all day. i feel like it's been two and a half years we have been following this. sounds familiar to what's happening in the u.s. but ours is three weeks, theirs is two years. what would you say is what possibly could get done? a lot of people saying there is no brexit or there's a brexit with no exit, you know. and those seem like we are flipping a coin on that. but you get the pulse of the people, you have been there a lot, what do you feel the pulse is of the people? reporter: i think the pulse of the people is they're fed up, and you know, the prime minister just said i understand it's unsettling out there. 17.4 million people, 52% of the people said we want out, and here we are as you say, two and

a half years later, we're no closer to getting that achieved. it's very difficult, because it gets a bit into the weeds on the issues. the opposition has said if you put us back in the customs union, you can get this thing passed tomorrow. but theresa may points out that is part of the reason the people voted for brexit. we don't want to be in the eu custom so that's a nonstarter. she refuses to take no deal brexit off the table and there are those, of course, that would like to see that. as i said earlier, let's just leave, we will take our chances and go from there. but you know, who knows. it's going to be very painful, it will continue to be painful until they come to some sort of consensus. david: i don't think you will be home any time soon. sounds like you have a lot more of a story to cover. thank you very much. i appreciate it. over here, wall street beware. maxine waters out with a new warning as she takes the helm of the house financial services committee with alexandria

ocasio-cortez by her side. >> i will be keeping a watchful eye on all of the financial regulators to make sure they are carrying out their statutory duties, including holding bad actors accountable and promoting financial stability. as we saw during the 2008 financial crisis, large wall street banks that aren't subject to strong oversight and safeguards to protect our economy can do a lot of damage. david: maxine waters outlining her agenda today for the powerful house financial services committee that includes reviving regulations and reinstating the consumer financial protection bureau. we also got this tweet from ocasio-cortez. quote, personally i am looking forward to digging into the student loan crisis, examining for-profit prisons, i.c.e. detention and exploring the development of public and postal banking just to start. so gang, are you looking forward to aoc and maxine waters looking

into all this? >> well, given the bank earnings this week, they were pretty strong. the underlying fundamentals look like it's strong times for these banks. if we have more investigations, more people hauled in front of the senate and the house panels, you can imagine gridlock will be taking place and a lot of wasted time instead of lending out, making loans and making money and underwriting deals. >> i ran a bank so i have dealt with the financial services committee for too many years. i'm glad i'm no longer running a bank. the banks are strong, as susan said. they don't prepare for tomorrow. they prepare for years ahead. so they have already delevered. their risk base is really strong. so with respect to changing leverage ratios or things that may come out of the blue, that's not going to happen. on the consumer protection agency, it's not surprising the democrats wanted it back in, just like it wasn't surprising that mulvaney when he was the head kind of unwound it.

that is not going to be a surprise to anyone in the banking industry. that is going to be regulatory oversight on things like subprime student loans, those things where, for the most part, needs more education than other what i would say commoditized type of issues. david: my question is -- i'm sorry, go ahead. i defer to you. >> i'm not that much older than you. go ahead, i think what the danger here is overregulating again. it was regulation that gave us a punk recovery, especially for community and smaller banks. they are now getting some relief. but we also have the problem, the federal reserve is now starting to examine big banks' loan portfolios again, starting to say why did you do this, why did you do that, as if those people know anything about lending. they proved that before 2008, they didn't see this coming. so those things can put a damper. what i think you are going to

see is rise of more non-bank lending institutions, financial institutions that make loans to small businesses and then sell the loans to banks and pension funds. >> anybody who ran for president and would have been a great president needs to be called mr. david: he needs to be called mr. president. >> we have been a great president. >> i still wish the flat tax would have passed. the problem here is who is going to watch maxine waters? she's watching the banks? it's like putting jesse james in charge of the bank vault. she's been listed one of the most corrupt politicians by a liberal watch group seven of the last ten years. she has been dealing with one nation bank with her husband, an allegation of at least a payment that looked like it was underneath the table. she's the woman who asked the cia to be investigated because she claimed they are the ones that gave crack to black neighborhoods or at least said the story needs looking into. this is the problem with politics right now. we have people who shouldn't be

in charge, in charge. this is how we got dodd-frank which dealt nothing with the 2008 crisis. it put regulations on banks, screwed up credit and that's what's going to happen now. ocasio-cortez doesn't necessarily worry me. she's one of about 60. she has a voice that i don't necessarily agree with, but she was elected, she deserves to be at the table. what worries me is people like maxine waters. david: for the record, maxine waters' husband's bank was called one united. but i think the rest of the story is right. thank you, gang. cracking down on big tech. that's what president's pick for attorney general may have in mind for silicon valley. charlie breaking it down for us next. >> i think a lot of people wonder how such huge behemoths that now exist in silicon valley have taken shape under the nose of antitrust enforcers.

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i don't think big is necessarily bad but i think a lot of people wonder how such huge behemoths that now exist in silicon valley have taken shape under the nose of the antitrust enforcers. you know, you can win that place in the marketplace without

violating the antitrust laws, but i want to find out more about that dynamic. david: the word "but" a lot of people are concerned about. attorney general nominee william barr was asked a lot of questions about the mueller investigation at his confirmation yesterday but most folks failed to notice his striking concerns about the size of big high tech firms. that wasn't lost on our own charlie gasparino, who has been breaking news on the subject all day as he's been making rounds. charlie, tell us what you found. >> you know, i covered the justice department's antitrust division a lot. they have been mostly focused on telecom deals. just to be clear, for awhile now, it's the ftc, federal trade commission, that provided most of the front line regulation of the big tech companies, not justice department doj. they were getting, you know, facebook, for example, what's app, you know this stuff. cursory review by doj. the ftc really bore down.

what i heard after he made that statement, i called some of my sources, not going to say who but they are very plugged in at facebook, at google, they are plugged in in the justice department and they said don't let this go unnoticed. this is a huge statement. it's basically saying for the first time, justice antitrust is going to start bearing down on the big tech companies, particularly facebook and google and they are going to look at their merger activity and basically, they are saying to these guys we don't want you to get bigger anymore. so if google and facebook want to go out there and buy stuff, they will be facing fairly significant regulatory scrutiny from doj antitrust and again, it will be the first time they have done this in awhile, the ftc was generally the front line regulator on this. why are they doing this? well, this is the political climate suggesting that. justice, trump justice department does not agree with everything that nancy pelosi and the democrats agree on, but they all kind of hate big tech, you know. they hate it from the privacy

standpoint. i think trump and his people hate it from the size standpoint. they believe if google and facebook keep buying stuff, guess what, they are crowding out innovation, basically creating monopolies because they can buy out smaller competitors. i think that's where we are right now. and by the way, if you own the stock which we are a business channel, this is a worry. by the way, google and facebook are in all these indices, right? so if they start getting hit with regulatory scrutiny from the dems over here, hearings, something we have been reporting on, and the trump administration over here, well, that's something to watch in the stocks. >> i think that's great reporting because it's not only the regulatory side, it's the political side. here you are having a republican person that wants to become the next head of department of justice and he's playing incredibly well to the democrats right now because there is no question they want to go after all the privacy issues, and should these companies which you have been talking about, should

they be regulated like a media company. >> interesting that the trump administration's doj antitrust, and trump's position on antitrust has been almost like a democrat. remember, they sued to prevent the at & t time warner deal. they lost in federal court. they basically -- not basically, they did appeal it to the federal district court so they are against these big monopolies in tech and telecom, so i guess you could say they are basically moving from telecom now to big tech, because that's where a lot of people are concerned. i still think they are going to go after some telecom stuff. there's still a possibility they go after comcast. trump hates nbc as you know, and he's developed -- and justice department antitrust has developed a theory that despite his hatred, we can maybe make, keep comcast smaller, because they are too big, they control too much real estate, they control content and distribution. >> why is there so little faith in technology disrupting the seemingly impregnable companies?

have they learned nothing since 20 years they saw microsoft taking over the world and look where microsoft is. big, but nothing like the monster -- >> they did bring a case. i agree with you philosophically, just so you know, but i will play devil's advocate. what they are going to say is microsoft was able to be taken out by other companies because, just because of the scrutiny from the government, because they put them on their heels. they will also say that we are in a different era right now. they will say particularly on telecom -- listen, what they are saying is this. there's only five or six major distributors of content, and you have must-see content, you can create a monopoly. if you don't -- so that's why they don't like the at & t/time warner deal. it's hard to take apart comcast/nbcu now but they can make life difficult which i think they will. >> it's also a fairness thing. they are regulating the media

companies but they are not regulating these tech companies like they're media companies. that has been a big yelling match where i think both sides, this is one thing that is bipartisan. >> well, remember, i just wonder how far the dems go. listen, there's a lot of democrat staffers that go to work in silicon valley. i think there are a more existential threat. david: do you think they will make a distinction between antitrust and having new regulations on privacy? you have states like california threatening to do crazy things. tech companies may say give us something federal so if you go from new york to new jersey you're not suddenly in violation of a state law. >> listen, that's what the securities industry has done, as you know. there is generally, yes, a lot of state attorneys general, like spitzer did in the day, tried to create his own little pocket. i think there's some degree of that. i think what barr is coming at, what i heard, is he's worried

about these companies getting way too big, buying more competitors which the competitors are no problem. they charge top dollar. you basically then, by buying, like facebook buying or google buying youtube, you do create an information monopoly through mergers and acquisitions, and that's how they have been able to get this sort of monopoly on information. that's how they could potentially misuse it. that's where he's coming from. >> there's no apple because that's considered closed system. >> great question. this is going to -- >> quick answer. >> this will appear on foxbusiness.com any moment. yes, i made that distinction. i don't think apple is in the soup like the rest of them. i think amazon is in the soup as well. they do use information third party and are growing fast. david: you broke it and it's great information. thank you very much. >> i listened to what you said and made a call. >> good call. david: flying is less safe now than it was a month ago. that is a warning from the national air traffic controllers association, citing the impact of the government shutdown. was that just hype from a federal workers union or should

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david: it is a busy news day and we have more breaking news. this time, sad news. an icon of the financial industry, john vogel, founder of vanguard group, dead at the age of 89. he's also really the founder of the whole concept of index funds. by the way, also, he was i think the longest living recipient up until now of a heart transplant. the guy was an amazing character. >> he was. he pioneered index funds so he did two things. one, he showed that small investors, people who don't have megabillions or millions, can do just as well or better than those who are in the market through indexing and then he pioneered low fee funds. if they put their imprimatur on annuity, you knew you wouldn't get ripped off by fees. same thing. now the whole industry is on that.

the costs that were there when he started, that index fund in 1976 versus what it is today, it's about 90% lower, it's like silicon valley and moore's law, call it bogle's law, better and lower fees for people and by golly, he demonstrated time and again, if you stuck with an index fund in your retirement fund, you would do very well. david: that was investing for the common man. he gave the common man an in that all the wall street geniuses had before. again, he will be sorely missed. a wonderful, wonderful man. our hearts go out to his family. meanwhile, it is day 26 in the partial government shutdown and the impact is being felt everywhere, from airports to potentially the upcoming super bowl. to jeff paul from the world's busiest airport with more details. jeff? reporter: yeah, david, wait times to get through security have really been fluctuating a lot today here at hartsfield-jackson international airport in atlanta. take a look behind me, you can see the lines here are pretty

low right now, but just a couple days ago, some customers had to wait as long as 90 minutes to get through these very security lines. part of the reason we are seeing some of the delay, tsa agents are beginning to call in sick to work a little more than they fwho would normally compared to last year. they haven't received pay in a couple weeks and their budgets are starting to run thin. some are worried about paying for child care, for gas, common things like groceries. we talked with some passengers out here today about that reality. take a listen to what they had to say. >> just try to be kind and be grateful and appreciative, because i know what circumstances they are working under. >> i think it's a shame for them but president trump said pay will be retroactive so they are going to get paid. reporter: the other thing to think about is the super bowl will be hosted here in atlanta in just a few weeks, and the mayor saying they are entering uncharted territory when it comes to dealing with that.

that monday after super bowl sunday, they are expecting twice as many people to fly through here than normal. send it back to you all. david: maybe i will drive down for the super bowl. that would be kind of fun. thank you very much. so, gang, are the economic and safety issues of the shutdown rising to the level where a compromise is near? what do you think? >> i don't think so. look, i don't want to pick on the person that was interviewed, he's speaking -- he's not a professional speaker but that's a stupid statement to say they will get a nice lump sum at some point. these people have families and mortgage payments and car payments, they're hurting right now because the children in washington, d.c. can't get along. look, i think this is self-sabotage. we have a good economy that's doing quite well, now we are risking all of that. president trump had two years when he had the house and the senate, and he didn't say anything about the wall funding at that point, until the democrats, it seems like a manufactured crisis, and the democrats are not without blame, either. they voted for a wall, they voted for border security. they are now just stomping their feet and the people that are

suffering is our country right now because these politicians in d.c. are acting like petulant children. >> i would agree with john. this is becoming past silly. it's now impacting people on everyday decisions. i think what we fail to understand is we can open all the agencies and have a continuing resolution we have been talking about for three weeks on homeland security and let them have the arguments about the border security versus daca. six of the seven agencies can open up tomorrow. also, i also think that when kevin hassett, chairman of the cea, makes a comment that this is like a vacation for those people, that is idiotic. nothing short of one of the stupidest comments for an incredibly bright guy. then lastly, it is now hitting us from a gdp perspective. .1% per week. this is not going to get back so quickly. david: well, i think the problem

is not safety. they can bring up some of these furloughed people from traffic control and things like that. the real thing that's going to push a compromise is angry flyers, people who may start canceling reservations because they don't want to put up with the aggravation. that's what's going to push the thing, not safety, but anger. people wondering why in the world can't you get something. it's clear what the deal's going to be. it's going to be h1b visas for high tech workers, good for nancy pelosi, dreamers and money for the wall. let's get to it and move on. >> i attended the economic luncheon today with jamie dimon. he says this is a democracy, we are supposed to be negotiating so let's negotiate. give border security money to president trump, do something about daca and immigration, because this will eventually and it is hurting the u.s. economy. that filters through to sentiment which ultimately, that does impact the market, believe it or not, more than economics does. david: a deal like that would help the economy. >> that's right. david: good stuff, gang.

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david: breaking news. federal prosecutors are now pursuing a criminal case against huawei after the company allegedly stole phone testing technology from t-mobile. this as trade talks between the u.s. and china continue. so, gang, what do you make of this? how's it going to impact relations with china now? >> i got in contact with huawei. they say for now, no comment at this point. but this goes back to civil lawsuits and now it's being brought up to the federal level and i think that shows an escalation that is taking place, especially as we have the cfo, huawei's cfo still in vancouver awaiting trial for extradition to the u.s. you know, this might be also a bargaining chip when it comes to u.s./china trade. i would argue, you know, we have the u.s. flexing their muscle, also there's a report saying

they might cut off microchip shipments to vte and hau wauawe. that's one way to bring them to their knees -- >> you think that's going to actually change -- start to change chinese behavior about technology, force partnerships and the like? >> intellectual property theft. as i mentioned on this show many times before, it's been as i said, 18 years since wto and if you watched the "60 minutes" piece this weekend, china's technology has really gotten ahead. do they need to steal at this point? i mean, they probably have stolen everything they needed to. david: susan, you have done a great job reporting on this so i wanted to ask about what seems like a coincidence and may not be. the rest of the huawei executives, while president trump was meeting with president xi, the sentence of the canadian citizen in china who obviously was guilty, they changed the sentence to a death sentence, there's scuttlebutt out there this is all part of the trade

war, or is it out there this is a coincidence, these two things? they certainly don't seem like a coincidence. >> i guess you can see it that way but i would still be skeptical and hesitant to try to conflate the two in terms of diplomacy, especially with the canadian national that's been sentenced to death in china versus this ongoing trade deal and this huawei case in vancouver, because from what i understand, this case of the canadian national in china, he's been arrested for four years, he's been in jail for alleged drug smuggling. i'm not sure that entirely has a case on the huawei cfo because there are other canadian nationals that are in detention in china as well. david: huawei is the big elephant. this is the one for years that the u.s. has been looking at, been struggling to get past anything through cfius. they didn't let them near military bases. this was the one that kind of started, you know, what i would say everyone looking under the hood with respect to what china was doing, as the one company trying to come in.

then it kind of went to zte and others and there's a whole myriad of them today. but huawei was really the one -- >> well, there are questions as to is it an arm of the government, especially with the person that, the founder of the company who is very reclusive and recently just this week came out in public and again defended his company, which was very rare. >> made the headlines. we don't spy and we take -- >> he also said he's a trump fan. but the government, the chinese government continues to claim it is a wholly private organization. >> that's what he claims as well but because of his history as an engineer in the pla, peoples liberation army, which is an extension of the military, defense arm of china, people are skeptical if this is a conduit for chinese spying. david: isn't this a better way to hold china's feet to the fire than tariffs that hurt both consumers and producers? >> tariffs are sales taxes and by going after specific

individuals, specific companies, you get action. >> one of the things european leaders will tell you behind closed doors, they don't understand why the u.s. from the beginning didn't work with them, have the same complaints, presented a united front. you would have gotten this thing resolved. david: last word from steve. economists are warning of dire catastrophic economic impacts as the shutdown drags on. are they right? that's coming next. our grandparents checked their smartphones

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david: as the government shutdown drags on, a lot of economists are beginning to worry that growth this quarter is going to slow down or even come to a halt. this was the title of one business insider article that the warnings are getting more and more stark, trump's government shutdown is getting catastrophic for the economy. that was the headline. so are these concerns valid in any way? peter morici, professor emeritus from the university of maryland joins us now to weigh in. peter, the market for one is not buying into these doom sayers. do you? >> well, there is going to be an impact. this tenth of a percent a week seems to me to be reasonable. we are going to get a lot of that back, a half to three-quarters when this thing closes but we're not going to get it all back. it's not like a hurricane. with a hurricane, you have the rebuild effect.

this, there's going to be no rebuild effect. my feeling is it's taking a bite. the other thing is, we always get weak first quarters these days so we are getting issues conflated. >> peter, in terms of permanent losses, when you look at economic history, nothing is permanent. you look at the depression and world war ii. by golly, within a few years we got back above growth rate averages. so yeah, people may hold back for now, but they can rev up again very quickly once this thing passes. is that not true? >> it's not entirely true, steve. the thing is, you get your old growth rate back but if you miss ten years of growth like we did during the depression, you know, you are starting from a lower base than you would have if it hadn't happened. now, we're not dealing with anything like that. >> you look at the '60s, 4%, 5% growth rates were the norm. japan at 10% even after pre-war recovery. the point is, people may hold back but then they can rev up again, you get more productivity. >> just to inject here,

post-recession, half of the comebacks were always because of construction and housing. we're not seeing that right now. so this is just really a consumer driven recovery. >> let me -- consumer driven recovery, cautiousness makes a big difference. if people start getting cautious about their spending habits, then i actually agree with peter. i think it's going to be more of a tail. >> the key thing that drives the economy is not consumption but as you know, investment. if businesses get -- we get trade wars out ft tof the way w i think will happen in the next few months, big deal with china, then you see capital expenditures go up, by golly, consumer spending will follow. >> that's where i'm really worried about the economy. you know, if you ask the cfos, they are the people that run the numbers, almost half of them, even in the early days of the shutdown, we are starting to get concern about a recession by the end of this year. now, part of that i believe is the business press is kind of anti-trump. bloomberg. david: surprise, surprise.

>> people on wall street, they are all democrats anyway, and the academic economists, they are worse than that. so the thing is, this is starting to have a psychological effect, this sort of campaign of doom. my feeling is that the consumers are strong, businesses were investing in places you don't normally expect them to invest and don't show up in the data. for example, they spent a lot of the tax cut so far on training, because it takes training to apply all that artificial intelligence. so coming into the year without a shutdown, i was more optimistic than everybody. my forecast for this year is for pretty good year. i don't see us trickling down to 1.9% growth by 2020. >> okay. yeah, definitely not recessionary. i think that's pretty much a consensus on the markets. but blackrock said we saw a mini '08-09 in december heading into 2019. i feel like sentiment is very fragile. obviously the shutdown which should reduce, by the way, there

should be an economic impact, maybe it's a quarter of one percent or tenth of one percent but that again drives into sentiment which of course then drives into cap x spending by the consumer, et cetera, et cetera. there is a filter down effect. >> there is a multiplier, there's no two ways about it. if you take $100,000 away from federal employees, you lose $150,000 in gdp. you are basically giving me keynes. think about what steve said. there's going to be a comeback. question is do you get it all back. i don't think so. i think you get a lot of it back and that's fine. if this thing drags into february and march, then i'm going to change my tune. you know, i am. >> okay. >> i don't think we're going to go that long. what did you say, january 24th? >> not sure on that one. >> david said off camera january 23rd. >> we can be wrong together. >> peter, what happens if the

opposite happens? what happens if the trade wars don't end? what happens if this global slowdown you see in china, that you see in germany, that you see this brexit, is an unmitigated disaster, you add to that the white house and there's such unpredictable behavior, cap x is falling off a cliff right now. i think the economy is doing fine, i don't want to be doom and gloom, but i can certainly see the other scenario here. this adds to the fact that we are heading towards a slowdown that could exacerbate it. >> yeah, if you take all the bricks that have been mailed to nancy pelosi's office and put them in a b-52 and dump them over wall street, bad things are going to happen. you just went through a whole list of things and lot of assumptions that are going to happen in their wake that i don't think are wholly true. for one thing -- >> it's not an assumption that china and germany are slowing, that brexit is an unmitigated disaster. those aren't assumptions. >> i think the brexit one is. you know, britain is still growing. i don't know that if they crash out, it's going to be quite as bad as everybody says.

my feeling is that britain can get out of this thing, one of the things about china, people are blaming the tariff for more than they should. china's got troubles with or without the tariffs. >> by the way, cap x has a lot to do with training workers, which as you said -- >> doesn't show up in the data. david: exactly. >> it shows up in c, not i. >> china is starting to cut taxes. they know they have to stimulate. david: peter, thank you. we appreciate you coming in. thanks a million. good to see you. >> take care. david: top democrats just introducing new legislation to bring the federal minimum wage to $15 an hour, but what impact will that have on employers and the overall economy? >> when we raise the minimum wage to a living wage, poverty will go down and it's time we address the issue of poverty in this country.

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to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions 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. >> the current $7.25 an hour minimum wage is a starvation wage. the last time congress passed legislation to raise the minimum wage was 12 years ago. the economy and the world has changed and minimum wage legislation must change as well. that's why we are here together to say in this country we'll

have a minimum wage which is a living wage, $15 an hour. david: it's called the raise the wage act. it's backed by nancy pelosi and chuck schumer. it would index the new rates to inflation and phase out the exception for tip workers. >> they chose $15 because it looks good on a pumper sticker. -- on a bumper sticker. it's so hard to have a national minimum wage. i agree $7.25 is too low. but it should be different in rural misas compared to silicon valley or the heart of new york

city. >> i agree with down. the whole idea fight for $15 sounds great. but for my friends in ohio who are making $4. >> $ -- who are making $40, $50 an hour and are looking for work. >> the best way to raise the minimum wage is a prosperous economy. prosperity does it. focus on the growth policies and the wages will take care of themselves. >> $7.25 is too low. who will pay for it eventually, the customers and the economy. david: when i started out i was getting minimum wage. i couldn't raise a family on it

but it helped me learn how to hold a job. >> $15 you will have more kiosks, fewer workers. dave great stuff today, that does it for "bulls and bears." >> recent years we have seen democrats vote for billions of dollars in physical walls and fencing. recent years have seen a democratic administration build the very same steel barriers this president wants to expand. >> you may disagree with us. open the government. open the government. you can do it, leader mcconnell. and all your blaming and flailing isn't going to open the government. we all know donald trump is the obstacle here. you not, i know it, we all know it. to holded the