we're capitalist with welfare models. they don't even have minimum wage over there either. stuart: thank you, liz. a little anything get. that is good stuff. that wraps it up for us. our time is up, neil, sir, it is yours. neil: thank you, stuart, very, very much we're following breaking news. adding confusion in virginia. right now the man third in line to be the next governor of that state, the attorney general, mark herring, admitting, admitting he wore black face in college as part of a costume. this goes back to 1980. in case you're keeping track, that then means that the governor ralph northam is still trying to cling to office. hasn't resigned yet. hasn't indicated he will over controversial pictures going back to 1984. the lieutenant governor justin fairfax has been accused of sexual misconduct. i don't know who will be fourth in line if that were to happy. they're running out of

gubernatorial possibilities. we'll keep close eye on that, in virginia, what it means set the stage for 2020 race, who turned once reddest of red states purple, then blue. this is looking bleak. we'll keep you posted on all of that. the president on a speech last night laid out the fend h agenda, many in the media and democrats are ripping it. instant polls we don't necessarily put too much stock in, they are what they are, overnight gave the president very high marks for his performance. when we were covering it last night, i said it was the president's best speech staying on message, staying calm. he has not spoiled that with any nasty tweets or statements today. brad blakeman and amber abby, former georgia democratic gubernatorial nominee, stacey abrams consultant, howard franklin. howard.

stayscy behave the response. well-regarded. always a tough position to be in. depending who you were watching and who you were hearing the president tried reaching out, or he didn't try hard enough. what do you think? >> i think it was a little bit of both. honestly if i'm grading the speech i would say, i have good news and bad news for the president. ed good news like you said, he stayed on message. he was as close to presidential as i have seen him over last two or three years. the bad news he already has a credibility problem. he has gone off-the-cuff, gone on twitter rants. and reversed himself, lied looking directly into the camera, it is hard taking him at his word even as public speech as important as this one. so i think there is a little bit of both, really proof will be in the pudding how he decides to govern. neil: well there is november lying to go around i guess, amber, democrats were for a wall are suddenly against a wall.

i guess it goes back and forth. i am wondering if the president never mentioning emergency last night or anything like that to avoid the crisis, maybe keep that conference committee going, helped that process along last night. what do you think? >> i think it was a smart move to talk less about the shutdown and about the immigration negotiations. and more about just what he calls the humanitarian crisis on the border, human trafficking, which he will notice that didn't applaud for that. didn't stand anything that he mentioned crises on the border. he put the focus on them. how they respond to those issues as owe supposed to specific tensions in the negotiations process. of course the president words that he might do national emergency or shut the government down again after this current period of reprieve. neil: brett imwondering the president was referring to a wall, referring to various

versions of a wall. could be see-through slats. he kept trying to point out to democrats, it doesn't have to be this structure that you think it is, even though in the past you voted for it. i'm wondering if that moved any needles? i doubt it but what do you think? >> the president hit a conciliatory tone. he talked about compromise. he talked about a global solution to our border. he talked about physical security, technical security, humanitarian aid, manpower. the president is clearly open to negotiation but he can't negotiate against himself. he needs a willing partner i think the american people by the flash polls, people who saw it, overwhelmingly accepted his speech as positive. now it is in the democratic court. i can assure you this, the president will get border security. we'll call it a wall. democrats will call sitting different. it is going to happen. neil: you know, howard, i was wondering about the dynamic last night with speaker of the house behind the president. she was either reading the president's speech or going

through her mail, i don't know which is the case but i do wonder how she comported herself there and how you think that dynamic went down? >> i think we're in a brand new political environment. i think obviously, you know, with on demand media, folks got good pictures of her, apparently, seemed to be reading his speech. neil: you sure it wasn't her mail? you sure it wasn't her mail? sure it wasn't bills she was going through? >> i also saw on social media some folks responding to the way she clapped at him, maybe not for him. i think all those things play into this new environment. and no one is more adept at maneuvering in it than donald trump. this guy has used twitter to go directly to the people for the last two or three years. it is, for the most part, it kept him where he wanted to be, which is the center of attention. neil: you know, amber, one thing i thought of, what howard was saying there, i think the president did very well. i've been critical of other things he says and does.

i thought he did very well. he has a history of taking a couple good things and squandering. he had couple years with a joint speech to congress, wasn't considered a state of the union address. the next day he is tweeting about former president barack obama tapping his phones. the wheels came off the wagon. it took away all the thunder he developed the night before. he avoided that so far today. we're hearing talk about meeting with conference committee members this weekend to try to hammer out a deal. telegraphing that his staff, or key players are going to head off to china next week. to get talks going on the china trade deal. so he is doing all the right things to follow up, what do you think? >> i think he is doing the right thing. we'll see if it actually lasts in terms of his twitter account. i think it is politically smart for the president to wait and let this speech, speak for itself. it was obviously very well-received in the polls.

the longer that he allows the media and democrats to hammer him for the speech, only lends him more credibility. when you see the media coming out fact-checking, claiming that it was false for him to say a third of woman who come to the border are raped, because it is actually 31%. when they say silly things like that, people thought it was a good speech, they will put more stock in a president. if he lets them get out on their skis, overplay their hand, that only helps him. neil: brad, i was concentrating on economic and money statements as well when we were covering it on fbn, i got to tell you they were getting picky in their criticism, talking job growth strongest it ever has been, not on per capita basis, if you look at at the the at fill moor administration. >> they can't deny the obvious. growth is nowhere near the what

the president promised, he underpromised overdeliverred. repatriated profits back to the company. he deregulated. neil: you must say there is something to the way the media or democrats have been very, very, smooth the way they gone turned that around? 40% of the americans, four out of 10 think the tax cuts were worth it and a good idea? when it comes to the economy, not all americans are feeling it. some there is trend daesh shun as ever. -- trepidatious as ever. is this psychology? >> this is the psychology of economics. there is cause and effect to economics. neil: they're not feeling the effect if that is right. howard, what do you think? >> this is less about the feeling. i don't want to argue the merits of actual case. give you another great example. the president is very fond of saying that african-american unemployment is the lowest it has ever been in the history of our country underneath his presidency. what i have yet to hear him say

african-american unemployment fell nine points under president obama and one point under president trump. we're not arguing where it is. we're arguing who should be getting credit. neil: don't you think if it were flippedded around, i understand what you're saying, don't you think barack obama would be doing the same thing. >> i don't think he would need to lie -- neil: the president didn't lie. he just said its lowest it has ever been, right? >> well, yeah. again he offered the admission without any context. if you don't like math -- neil: i hear what you're saying, it is all in how you do it. i always tell people on pluto i would be svelt. people think about that we're on earth now, neil. amber, i'm wondering now where does this go? if the president makes good on idea of having a summit at camp david. we have sketchy details might not come to pass. early talk with the conference committee, trying to hammer out an accord, might only be

republicans which would to me would be disaster. what do you think the about follow-through he has to have next couple days? >> the next move, to reiterate some of the things he said in his speech directly to the people he is negotiating with, on the shutdown, on immigration. but the question is, if democrats are really going to be willing to negotiate, even after hearing those things? so far it doesn't seem like they are. or we're still at the same place where they don't want to throw daca into the mix. the president has floated the idea of both temporary and permanent protections for daca. still they have not offered a wall in return. so even though the speech was great, that gets public opinion on the president's side. but in terms of congress, i don't think that, this particular moment is going to get them any closer to a deal. neil: so young, so jaded. all right. brad, what do you think? >> the president is going to get border security. he is either going to get it through congressional action or unilateral emergency

presidential action. it is going to happen. i think the president is smart to let confereees to do their work. if i was advising the president, mr. president, you must reach out to democrat. take them on the road. take them to the border. let them hear first-hand from border security from those on the front lines. do it as you stated in your speech with a bipartisan effort. let democrats come on board. because i think, as every day goes forward, more and more are. neil: guys, thank you all very, very much i do appreciate it. as we're wrapping up, getting more news out of virginia right now. we told you about governor ralph northam, his pictures coming back to haunt him from a 1984 yearbook. lieutenant governor justin fairfax. the third in line for governor, the attorney general, mark herring indicating, oops, i've got pictures too. guess who is fourth in line? the speaker of the house of delegates. kirk cox. and he is a republican. this just gets curiouser and

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>> much work remains to be done but my relationship with kim jong-un is a god -- good one. chairman kim and i will meet again on february 27th, and 28th in vietnam. >> i think there is every opportunity that chairman kim will move on to fulfill the commitments that he made and we'll in turn fulfill commitments we made towards stability on the peninsula. neil: secretary of state with maria bartiromo. you have to wonder, if you score a second summit, kim jong-un, sit down with president of the united states, you would have done something to warrant the sit down.

a lot of critics, many said when the first hints were going through the wires last night, they didn't see that. they have seen, a lot of shielding of missiles. no more missile launches but they're not exactly tearing things down. that worries them. we're rewarding essentially bad behavior. to retired four-star navy admiral william fallon. what do you think about this? >> top of the day, neil. i think it is very optimistic turn of events. think back a couple years ago, who would have even imagined that the leaders of these two countries would even talk to each other, let alone, sit down, have a second event. neil: sure. >> i think we ought to look at it in very positive light. but realistic light. we need to temper expectations that the idea that there is suddenly going to denuclearization and get rid of all their nuclear weapons overnight i think is a real stretch. but there are ways that we can work to move forward to improve the situation. i think positive notes would be,

they have actually stopped their nuclear testing program and they have, they have stopped the long-range missile testing which would be two of the things that we would have wanted to happen right away. and we look forward to it. neil: that we have to see, admiral. maybe not. i'm just wondering there was report earlier in the week. i don't remember the origin, that they were actually hiding missile sites, all of that, that might come with the territory. takes time for secretive nation to start showing stuff, i get that. enough to warrant a second sit-down? >> absolutely. of course they will have missiles. they will hide them, do everything they can to maintain their capabilities. frankly there is no doubt in my mind that the reason they have nukes is because they're afraid of us. they want to have some, some way to deter us from what they perceive to be hostile actions.

neil: you lose your bargaining chip, right? >> of course. think of this. seven decades of what they're, they call, in their favorite word in my experience with them is hostility. they look upon us as you're just hostile to us, everything we do, you have thrown something in our face. they had a lot of things they want. we want some things too. we want help with northeast asia region. we want that threat of nuclear conflict to, to be put in abeyance and we want to move forward. would be great to figure out how we have more normal relations with them. to me that is one of the key objectives, bitter to talk or not. admiral, indulge me here, the top general in the middle east for our country was surprised when he heard that the president wanted to take american troops out of syria. that the president ever bounced that off of him, and it is sort of surprised republicans and

democrats on that committee. now, others said the white house said, we've been kind of feeling around on this for a while, so it shouldn't have shocked anybody but what did you make of that admission. >> i think he, my cut is, he said what he knew. told them the facts. neil: yeah. >> it would have an been, were i in that position would certainly have been like to have been cut in on whatever planning was going on. i don't have any insight to know what may have been going on in the background but it is no secret that the president had made his intentions very clear. how it is done makes a lot of difference. hopefully it will, they will figure out a way to do it smartly and not just abandon ship to be able to keep, keep some kind of a toehold in there so we can have a better idea what is going on and to try to influence events. so it is not out of our control. if you're not there at the game, if you're not present doing

something, then others will do something in your absence. so, i think it is really important to stay engaged. neil: all right, even in the neighborhood, stay in the neighborhood. if you aren't staying in syria, stay in the neighborhood? >> you don't want to walk out the door. weigh have done that both to our regret in afghanistan and iraq. that hasn't helped for sure. the korean development is a positive step. hope they continue to move forward. don't get carried away with the program. it will not be nirvana overnight. neil: you're probably right. admiral, thank you very much. to the admiral's point, god wind of most liked what they were hearing. talk something better than warring. that is the interpretation why their stocks were up. a quick peek what is happening to the market. not much. we're down a little bit here. we're keeping track of earnings parade. charlie brady, the guy who compiles all this for us is reminding me, about half, 56% of

the s&p 500 companies. seven out of 10 are beating estimates. 61% are beating revenue estimates. and earnings per share are up close 18% from a year ago. a lot stronger than was thought originally to be the case. we've have more after this. can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. introducing the all-new lexus es. a product of mastery. experience amazing at your lexus dealer.

♪ >> an economic miracle is taking place in the united states. and the only thing that can stop it are foolish wars, politics, or ridiculous partisan investigations. [cheers and applause] neil: did you see nancy behind her, in slow motion, that was, i love these things. i live for those moments when you just rattle the other side. the president warning about partisan probes, if you want want to kiss this recovery

good-bye. charlie gasparino, here on all of that. how did you think he did? >> i thought it was a great speech. listen, all these speeches have a degree of bs to them, that is one of the biggest lines of bs there was. the fact if they investigate him -- that is not going to happen. donald trump's economy is living or may die, who knows, we don't know about trade and things like that, on, on the fact that the republicans cut taxes, pretty dramatically on corporations, that may or may not sustain. but if it does sustain, that is because mitch mcconnell, and the paul ryan got it through. it is, it is basically, it is going to live and die on regulation cuts, which any generic republican would have done the same thing. donald trump may have done it. neil: he did it in hyperdrive. >> anybody would have done it especially with a republican congress. neil: his disproportionate attention to it, and he came

from real teas it. regulations are particularly pronounces because they have to be. >> paul ryan laid out, i have been -- neil: you will never give the president benefit. >> that is absurd. i have to call balls and strikes. that was a great speech. i loved fact he turned tables on them a lot. like they were sneering at him. neil: given good press, not good press, the fact instant polls americans liked what he said. he has not followed up with nasty comments when he was similarly well-received. >> his comment on socialism. who is for socialism here? let's not make america socialist. the chuck schumer had to stand. neil: bernie sanders did not. >> because he is a socialist and ocasio-cortez is. neil: right. >> i think getting into the second part, what i'm talking about, that is what has wall street and financial community is really worried. people on wall street, lloyd blankfein, departed goldman sachs, long-time ceo

they were huge supporters of democrats. lloyd grew up in the housing projections. big supporters of hillary clinton, even they are getting freaked out where the party is going. if you want -- neil: the party's criticism what companies did with their money, pouring into stock buybacks and dividend. >> i'm not saying that is a great thing. i think that is the least productive way. it is not unproductive. it is the least productive. neil: it is their money. >> it is their money. chuck schumer joined bernie sanders, an alleged moderate of the party, who by the way chuck schumer has gotten more money from wall street than just about any other politician ever, huge amounts of money, joins with avowed socialist, to basically promote a socialist idea of how to run a company, and i'll tell you, wall street guys have freaked out. they're saying to themselves, if chuck schumer is being forced this far left, we'll outlaw stock buybacks, if you're a company that does stock buybacks we may draw and quarter your ceo, guess what?

that means the party has moved to ocasio-cortez, bernie sanders levels on all this stuff. i don't know even if wall street democrats who are basically moderate democrats can deal with that. the basic question, guys like larry fink at blackrock, touting every politically correct agenda, what do they by the real economic -- neil: don't you think this is little more layered though? democrats are sending a message, the problem with the tax cuts, that trump had is, they, went disproportionally, corporations, rich guys, in case of corporations, they plowed it into the stock market, plowed it into rewarding shareholders? >> i don't think so. neil: they're setting stage for reversing it? >> no, i think, yes, that, that's true. neil: we already know the house budget chief wants that. >> but here is has them worried. if chuck schumer is embracing bernie sanders like the, moderate democrats embracing the far, far left and ocasio-cortez, who is going to run the

democratic party? who will be their standard-bearer in 2020? they are really worried that, elizabeth warren, a significant lefty progressive, she has, by the way, she has from what i understand, she has the best team on the ground in new hampshire, iowa, two key states. kamala harris, big time formidable lefty, she has very formidable teams on the ground in california and elsewhere, that they are going to run the party. if they run the party, guess what? forget about, like, barack obama progressive economics. we are talking about barack obama on steroids. and that's bad for the business community. that has lloyd blankfein, it should have larry fink, if he wasn't so lustful to be treasury secretary some day, he would be out there saying that this is absurd where the party is going. so that is what has them scared. it's a legitimate fear. i'm telling you, i was tempted when they found out about elizabeth warren putting down one of other law school, some

application she was native-american that would kill her. neil: texas state bar. >> i heard, i did checking with my democratic sources, not the case. she has a great ground game in new hampshire and iowa. she is the darling of the base. neil: that can make a difference. >> that makes a difference. it is a scary difference. neil: you're scary. >> you're scary. neil: charlie gasparino, thank you very, very much. president was using venz to some calls for socialism as charlie pointed out, but is socialism gaining a lot of steam here by just another name? >> we are alarmedded by the new calls to adopt socialism in our country. just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities.

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♪ neil: people abused capital. you give it back and then some. obligation if you're very wealthy if to give back? >> i drank some of starbucks coffee a while ago. i tasted it, i said i know why

the guy is a billionaire. this is great coffee. he puts coffee grounds, that is lot of could have free grounds. that is all he did. he made a strong cup of coffee. he is a billionaire. i would never take his money. neil: you and howard have to pony up takeses to help your fellow man? >> i look what we paid out. you have to remember i'm a multimillionaire and i'm famous. someone says is that going to help you, either one of those things with your sin and with the grave problem that is coming up for you? they're not going help me, neil. neil: can't take it with you? >> nope. neil: all right, now you, although might notice that mr. robertson didn't answer my question open to paying more taxes, whether the rich should, it is a popular debate to revive back and forth, between powers that be in the democratic party, that the rich like robertson are not doing enough. that the "duck dynasty" star and others should pay up a lot more.

to point bridge capital founder, al lambert. brandywine,'s jack mcintyre, "the evening edit" host, extraordinary talent, elizabeth, wicked, mcdonald. liz lizzie he is saying that is the not answer, just going after the rich. they can find a clever way to make money. they get a lot of money doing it. leave it at that you say? >> by the way i love there is no pockets in a funeral shroud talk with mr. robertson. it was pretty funny. i love that conversation. i like that we're having the conversation now because i think it is worth pointing out when we talk about socialism, when you listen to bernie sanders, he and alexandria ocasio-cortez built a long pedigree, ignoring the evidence, ignoring what the reality is. they talk about medicare for all. medicare has private insurance in it for drug coverage and medicare advantage. bernie sanders likes to talk

about the nordic model. denmark's prime minister says we're not socialist, we're a capitalist model that pays for a welfare state. sweden, norway, denmark, they don't have a minimum wage. medicare for all they have been touting is to the far left of what china even does. china, people in china have to pay out-of-pocket. i just like that the debate is now coming up, just to flush out the inaccuracies and misconceptions that bernie sanders is foisting on the american people. neil: you know though, al lambert, one thing i do notice, regardless of people's personal views on this subject, whether you're inside the market, outside the market, it is gaining traction with voters, who buy and large say the rich are not paying enough and when it comes to even something like a estate tax, majority, are for making it higher, when it comes to a wealth tax, a lot of people like the idea of that. so, it is catching fire. maybe it is because, i don't have to pay for that, so i'm for it, but what do you make of it? >> well i think it is so sad

because it is such a destructive economic philosophy, 70, 80, 90% tax rates and it is destructive political message. it plays on base emotion and envy. somehow it is zero-sum game. somebody made a million dollars, they took it from somebody else and taxed at 70, 80%, '90s kings in washington will decide where the money goes, rather than the person that made it. this does some work in some circles. they believe in the philosophy of a zero-sum game. look at companies, like at bill gates. bill gates should pay more in taxes he can't possibly spend what money he has. guess what? if he started microsoft and had to pay 70, 80%, taxes and he wouldn't have created best software company in the world and all the wealth created. neil: when microsoft started, we had 70% top rate.

it went down. home depot started in much meyer meyer -- higher rates and dicey economic environment. jack, where is this all going, if you want to look at revenue picture, great, but look at the spending picture. that is the core of the problem. >> right, socialism isn't going to solve that part of equation. going back to your topic. what scares me, we need capital to be put at risk. you know entrepreneurialism, that is the backbone of the economy, if we disincentivize -- we hear about the winners, people doing well. you never hear about the guys that put their capital at risk and they didn't do well. if we go down a socialist path, i don't think you will see people willing to put capital at risk with the idea we'll get the great companies, microsofts, amazons, the things start out obviously very small. somebody has to be willing to put capital at risk to go down

that path. >> exactly. chuck schumer, bernie sanders, alexandria ocasio-cortez, they have never run a business. i understand what they're saying about high taxes, but you know the high tax on upper bracket or the wealth tax wouldn't even pay for medicare for all and if you want to talk about income inequality, look where income inequality is at the most severe. it is in venezuela. when you start taking people's income in the form of taxation, what happens is governments get bigger, people inside the government, sometimes, often times, they turn corrupt. when you have socialism it is often a economy run at the tip of a gun. watch the income inequality debate because they think, that raising taxes will solve income in equality in this country, uniformly doesn't what happens. what happens the government just gets bigger. neil: go back, hal, to what life was like in the 1950s, and early '60s, even after jfk's tax cuts took effect, sadly

after his death but the rates were much higher, but they say the chasm was narrower then between the super-rich and the not so rich. now it has widened out tremendously. the only way to fix that, forcibly raise taxes to actually get it narrower. is that a good idea? >> well look, no, the tax rates were higher but there were massive deductions then. neil: how many people paid that? how many people paid that? >> very few people paid it. i'm so happy president trump attacked socialism directly last night. you know what? he also attacked it indirectly as well, talking about d-day, freeing europe. what was he talking about? what did we free europe from? the national socialist workers party. the nazis were socialists. we became successful country in the world. we put someone on the moon. we have the strongest economy out there. and talked about in the future

where we're going and where we're going. why do you want to change this country the most exceptional country in the world to venezuela's model? it makes no sense. neil: i get back to that socialism argument. you ask americans, what do you think of socialism, they don't like it, depending on the survey. when you talk about medicare for all, college for all, it is not on your wallet. it is on someone else's wallet. then poll numbers get to be very different. i just think, republicans and those who espouse capitalism, are underestimating the strength of this movement. it is palpable, it is real, it has a great deal of support. what do you think? >> i agree. so, we've talked about the wealth dispersion, the income dispersion. so go back, you know that government shutdown, that we just had, amazing underscores the fact so many people live paycheck to paycheck. add on the fed study, that 40% of u.s. adults don't have $400

for a financial emergency? it is not surprising. because you look at the wealth that, equity market where it is. unfortunately not everybody is benefiting from that. so you have got the groundswell of people that haven't lived under, when socialism sort of dominated the global economy. so it sounds good on paper but, there is clearly risk. you know if we talk about venezuela, that is the poster-child for what can go wrong under socialist regime. neil: final word. i want to thank you all. very much appreciate it, guys. told but the new round of trade talks, set the stage for ultimate one-on-one. president meeting with xi xinping. we're told, shortly after meetings with north korean leader, so it is going to be an eventful couple of weeks. few weeks. more after this. what matters to you? let's see. most of you say lower a1c.

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neil: all right, next hour we are, have understanding that the president will announce that david malpass will be his pick to head the world bank. members of the world bank might not be too enthused about that. that is the word, president will settle on him. blake burman with the latest from the white house. reporter: couple interesting components. david malpass was trump campaign advisor.

he made his way undersecretary of treasury for international affairs, under steve mnuchin. we develop known by the president and treasury secretary. someone thought highly of apparatus here in the white house and the treasury department as well but malpass is also a part of the team that is part of the china trade discussions. we do believe that his very senior level communications with the chinese will continue on even though the president is going to elevate him to his selection to lead the world bank. his timeline, matches up the march 1st deadline with china. the world bank vote isn't until april. we believe malpass will continue role as it relates to the china discussions if and when he becomes the head of the world bank. the latter part, because there is criticism, coming as it relates to selection of malpass, malpass himself was critical of the world bank in the past. critical of multilateral organizations as well. the u.s. has a 16% voting stake

when it comes to the head of the world bank. normally, whoever the u.s. puts forth ends up being elevated to the top post at the world bank. we'll see, probably in april, whether or not that is the case this time around as some might have a little bit after, a little bit of a weary eye as it comes to malpass, he has been skeptical of the world bank in the past. neil? neil: blake, thank you very much. blake burman at the white house of the as he indicated the treasury serb tear, president's point man, steve mnuchin and robert lighthizer are headed to china next week. we are told this paves the way for this week or week after president sits down with xi xinping. that is after he meets with the north korean leader in vietnam. to wall street journal at large host, gerry baker. first of all, expectations game with these talks, what are you

thinking? >> both sides want to get a deal done by march the 1st. the principal chinese negotiator and chinese policymaker liu he, was in washington, laid out a set of proposals. set forth some of the objectives the president set forth. both sidessed want to say we avoided tariffs. we have a deal. we're setting our relationship right. we acknowledge we need to make changes. things are going ahead there. you have to be careful. there is city -- still a lot of things with the administration that china will do all kinds of things but not give -- neil: that is the history, right. >> yes. how can we test they are actually meeting their promises. it is really, really hard. the fear among some of the hard-liners in the administration the president will be so keen to get a deal he will just agree with it anyway. neil: can i ask but the deal? if the talks are going along

well, gerri, do you get endcation the president would deray tariffs on $250 billion worth of chinese goods? the chinese want that as sort of semi promise. i don't see any light from the white house. but what do you think? >> i think that's right. the timetable is coming together quite nicely now. neil: right. >> deadline for a deal, before the tariffs are imposed is march 1. president announced as of yesterday that he is going to asia to vietnam to meet kim jong-un of north korea right at the end of february. there is a strong expectation, indeed there is particular proposal on the table as i understand it, that the president, and president xi xinping of china meet while he is in the region, while he is in asia, possibly in someplace in that very area, vietnam. they would both love to say at the 11th hour we've done the deal. china is changing.

china made commitments. the timing looks right for them to spring on the markets which i think would be very favorably received. neil: depends on the deal though, how sweeping. >> sure. neil: your take on president's speech last night? >> it was much more conventional speech than we've come to expect from the president. we'll see how long this spirit of comity and collaboration -- there he was having lunch yesterday, slamming chuck schumer. neil: that was before. >> beforehand. i hate to use the word presidential because it sounds so patronizing of the he rose to the political reality in washington. democrats control house of representatives. they have all kind of subpoena power he wants to head off. maybe he is offering them a little bit of a olive branch there, look if you back off some of this over the top, over the aggressive investigation maybe -- neil: they don't -- >> we can do stuff on

immigration? maybe we can do stuff -- neil: maybe you're right but i got sense of crumbs of a deal to avoid another shutdown or address the border stuff, that won't involve declaring a national emergency at the border. >> that is what it sounds like. getting strong push back from republicans with exception of lindsey graham. the word from mitch mcconnell and others oppose this they think it is illegal and would be challenged. neil: what about the socialism push? >> i thought that was the most interesting line in a speech. i never heard a president give a speech, i have been in country 30 years, not as long as you neil, i never heard a president talk about socialism. look at polls, the polling we've seen for aoc, alexandria ocasio-cortez, is 70% tax rates, elizabeth warren's wealth tax. neil: right. >> polling is overwhelmingly supportive. neil: i was saying that a little earlier. >> even significant number of

republicans. that is not socialism despite the fact people describe it as such but clearly the mood of the country shifted quite a bit in that direction. neil: i see a fine show in the making. gerry baker, "wall street journal at large" with gerry baker. we have a lot more coming up. dow down 11 points. need. ♪ liberty. liberty. liberty. liberty. ♪ . .

neil: you know, i think we are running out of democrats in virginia, right now the attorney general is saying that he too wore black face in party, whatever your views on the subject. that's the third controversy for officials beginning with ralph northam with questionable photographs and lieutenant governor fairfax accused of sexual misconduct and other things that could make it difficult for democrats to advance to that office. so with the governor in a heap of controversy, lieutenant governor next in line and third

in line attorney general, again, controversy, who you think is next, the speaker of the house of delegates, kirk cox and he's a republican. this is getting a lot of attention here because virginia lately shifted from purple to almost outright blue. what does it say act 13 electoral votes in a couple of years, in 2020? how is this setting the stage or backdrop for that, karl rove, what do you think? >> what a mess. neil: incredible, right? >> yeah. >> this has been sort of like 10 days of northam first gets into trouble a week ago tuesday by getting involved, there's a bill brought up in the house of delegates to basically allow and he defends on wednesday, if a baby is born and the mother wants it to be aborted we will keep it comfortable and physicians and the mother will

have a discussion and decide whether or not to kill it and by friday he gets involved in this. 3 news conferences on the subject. now we have the lieutenant governor accused, we have the attorney general popping up and saying i too wore a black face. i mean, you can't make this stuff up, the democrats in virginia have gotten themselves tied up in knots and everybody in the democratic establishment is calling for northam to be gone and most of them did so before they found out that lieutenant governor fairfax had his own problem and in a couple of hours attorney general. neil: governor said on that, that birth, abortion issue that it was only deemed for babies who could not survive or were in such peril that it would be up to the parents to decide to keep that child at that point. leaving that aside, you're right, the drama around all of this with the rotating chairs

here, i'm wondering if it came down to the speaker of the house of delegates moving up to governor, the other two would have to resign ahead of them, wouldn't they? >> you would have to have the governor resign, the lieutenant governor resign and the attorney general resign. in virginia you only elect 3 offices statewide, both 3 are the governor, lieutenant governor and attorney general. neil: they don't resign, this is tough to conclude one way or the other. >> yeah, if governor northam decides he will stay, i find it difficult to believe that the house of delegates, even though the democrats have called for his resignation, i find it hard to believe that democrats in the house of delegates will move forward with impeachment proceeding. neil: karl play 2020 and things can change in a matter of days, forget years, this state that seems to have gone democrat or at least is bluer than it ever

used to be, how does it swing on this or does it? >> well, it has a first impact in 2019 because virginia holds its state legislative elections this november and republicans control house of delegates by one vote and the state senate by one vote. so in this kind of election if you had a popular democratic governor who organized as jerry mccullough organized, campaigned for the candidate, then the republicans could stand a very strong chance of losing control of the state house and/or the state senate but now the democrats will be divides, democrats will be enthusiastic, they are going to lack money and republicans have a wind of their back and might be able to hold on if they play cards right. neil: what did you think of the president's speech last night? >> the best parts where it was him, you know, he clearly cares deeply about, for example, the

angel families, people who have suffered from and illegal family or obviously cares about sexual and human trafficking and illegal immigration, we talked about special agent hernández. so the moments that are him, he comes across as authentic and that he cares, that's why i think his numbers were so good last night on the instant poll that is were done of viewers. i think he takes too much on him. he talked about, for example, building the wall, i paid attention with interest to the democrats in recent days, well, we want evidence-base wall said one of them on sunday programs. we want evidence that this is necessary, well, the president is not plucking the numbers of what needs to be prepared and what needs to be built from out, he's getting from experts inside of homeland security. i wish last night the one criticism i would have i wished last night that he had said, you know what, you heard from me about this, but i want you to hear from the people that i'm hearing from, i want to point

out men and women on the front line of our border security who are telling me what we need to do along the border and they say we need this whatever, 50 additional miles of new wall and we need to repair and let them carry the burden more than just him. he has real authentic support among those experts if he will put them out there and let them help make the case for democrats and makes it tougher for democrats to avoid making a deal because now it's no longer them arguing with trump, they're now arguing with the person that's in charge. i mean, better to have more allies who are actually the people recommending what needs to be done than take it all on himself. neil: interesting point. take the burden off of him. you are making this up, these are the experts that have been saying even in prior administration. karl rove, appreciate it. >> thank you, neil.

neil: the president was doing touting of american economy but are republicans selling tax cuts enough. >> no one is saying that, i'm not saying the right or the left is failure to report, a lot more green in this country as a result. >> the truth is the buybacks, you're parking it back in your own company, looking for key investment for growth, for prosperity and employment, that makes sense, i will tell you this back home, you know, whether you're a fortune 500 or not, businesses back home across america, they are investing. neil: but the dirty secret is on tax cuts that republicans, president trump orchestrated back in 2017 is they're not resinating to the degree that many would, 4 to 10 americans that i -- said they were good idea. congress, what do you think of

that? >> one to have biggest economics changes in lifetime and triggered by the tax cuts and the regulatory relief that this administration wanted in first 2 years. neil: most people are of the impression that it didn't do that, is that a failure to articulate on republicans' part, what? >> well, i think people are feeling it and that's what really matters. everywhere i go people are telling me that businesses is booming, they have new jobs that are opening up for them, wages are going up, we are seeing sort of the morning again that ronald reagan once delivered using the same policy. neil: they're saying it was an uneven recovery, you could argue that for decades, right, but that's what they are counting

on, what do you think? >> people know in their own life how they are doing and any politician that convince them otherwise looks foolish. the president has a lot of bragging that he's entitled to do because of policies that he's enacted and the economy is responding and people are feeling it. neil: let me ask you about ongoing effort, next friday could be another government shutdown, the president never once used the word energy at the border, he did talk about things that happened at the border that clearly, warranted a wall or reinforcements therein. i'm wondering where you see this going and is the president were to declare emergency, whether that -- >> it's perfectly clear that he needs to use authority granted, unobligated military construction funds for national defense and i can't think of anything more than important to our nation's defense than security of our southern border, he can actually draw more

funding using that existing authority than he's had -- neil: a court would drag it down. it would avoid a shutdown, i guess, what do you think? >> the fact of the matter anything that he does to secure our border the left will go to court and challenge. he might as well have the satisfaction of getting it done. neil: all right. your view of what he was talking about with the economy, a lot of people were -- were saying that a lot of this is still barack obama, what do you think? >> well, you can make the argument if he had continued all of obama's policies, the fact is he changed them 180-degrees and that's when the economy had taken off like a bat out of hell. neil: i like that. good catching up with you. >> great to see you, neil, thanks. neil: speaking of bat out of hell, how much does it improve for women, unemployment record lows, even though not predispose

of supporting the president even those dressed in white, even they had to say, yeah, we like that after this. with expedia, i saved when i added a hotel to our flight. so even when she grows up, she'll never outgrow the memory of our adventure.

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>> no one has benefited more from thriving economy than women who have filled 58% of the newly created jobs in the last year. [applause] neil: i always get a kick when they have those moments. okay.

dressed in white, grown to be quite large. 30 congresswomen, they like the progress that's been made on unemployment for women, record number coming into the house of representatives, up better than 40 and record low unemployment for women period, fox news contributor on all of this, what do you think? >> hey, neil, i thought it was kind of odd that the democrat females were widely applauding themselves, first some of the things they should have been standing and applauding for with the country's and the president's accomplishments, you talk about the job growth in our country and january alone over 300,000 jobs were added and the prediction, i think, was only 107 to be added. we are the number one in exporting oil and natural gas, there are so many things this president talked about that democrats should be on board with but instead a lot of them

sat on their hands and decided to applaud and cheer for themselves versus the success of our country. neil: yeah, obviously record number of women in the united states congress, they will argue bad one on the president and that's why the numbers fell to a degree that they did, provided more opportunities to women, so win-win for both of them. what did you make of the back and forth on this last night? >> the back and forth on -- neil: well, you know, the other side is reluctant to stand, all that. >> you know, it's very telling, neil, the democrats are going to continue to resist all things president trump even though the bulk of his speech was about uniting americans, uniting our lawmakers, coming together and working on an agenda first for america, not an agenda -- neil: republicans did that with barack obama, i know it comes

with territory, but seems like, wow, miles apart here. >> well, we are looking at policies that are helping men and women, the forgotten men and women, when you talk about the lower taxes, the lower regulations and how that is helping propel an economy and it's creating an incentivized economy so that businesses can open, flourish and grow, that is good for all americans, he also talked about the importance of border security, that's good for all americans as well, that is something that democrats need to recognize and get on board with, it's not just for one party, this is for all of america. neil: what did you think, the media does a thing where they fact-check the president, all good, sometimes fact-check can get too detailed correspondence, -- conscious, i don't know, the strongest rate in decades and i think one network was saying, yeah, it's bare i will keeping base with inflation, technically

right but it is still growing at the fastest pace in decades and i'm wondering, that's going out of your way to submerge what is phenomena whether you want to credit the president or not. >> the good thing the president can get on the big staging address the nation because you have the nay sayers and the media, they don't want to talk about the accomplishments of the president, some of the headlines were breath-taking what their criticism against the president and the speech for the state of the union, they are afraid that the true message will get out and resinate to americans, cbs had a poll, 76% approved of the president's state of the union speech and 72% approved of comments on immigration, so the democrats are going to continue on the run and continue to be haters of president trump.

neil: but he will say the proof is in the pudding, the economy is getting better, a lot of peel when polled on the subject don't think tax cuts work, don't think that their situation is all that great and i'm wondering whether people have gotten used to this or what, what do you think is going on? >> well, again, i think the media is not -- is doing a disservice to the country, they are not promoting the positive effects that are coming out of this administration and unfortunately if you're only getting your news from one source, that's all you know, that's all you're going to hear, so, again, being on the national stage for the state of the union i think was really good for the country, good for the president. neil: all right, deneen, thank you very much. a lot more coming, by the way, we have no problem with fact-checking the president, we fact-check ourselves, we called the president on saying that it was the largest tax cut ever in american history, it wasn't, ronald reagan's was, we also agreed that when he talked about

the 3 plus percent growth in wages, he was right on that. it wouldn't kill you to report the good and the bad and don't get too into the weeds, is he getting the the big picture right or not, call him out on that, it's called fair and balance. trips to mars. $4.95. hydroponic farms. robotic arms. ♪ $4.95. delivery drones or the latest phones. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.

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like me. ♪ >> we are alarmed by the new calls to adopt socialism in our country. america was founded on liberty and independence and not government coercion, domination and control. tonight, we renew and resolve that america will never be a socialist country. neil: all right, the president rejecting socialism in the context of what's going on in venezuela but much making with

democrat movement particularly popular among those who want to be president, high taxes on the wealthy, medicare for all, college for some, so where is this going? daily caller editorial, that was deliberate strategy, did it work? >> yeah, i thought it was very impressive for a number of reasons, one of them to get a head count that thinks socialism is worth definiting inside the -- defending inside the congress. i want to see every single member's face, i understand that alexandria ocasio-cortez was grinning ear to ear and half democrats decided to stay seated and not applaud at all although the leadership did applaud the president saying that he didn't want to see america become a socialist country, chuck schumer and nancy pelosi applauded which is clear indication there's a

civil war within the democratic party about whether or not socialism is the future, i think, the president exposed those fault lines yesterday. neil: i think what a lot of democrats are worried about is that they risk grabbing defeat from the jaws of victory, tapped into the party before, happened to republicans also, but the idea that going with the far left, high taxes, state taxes to 77%, wealth tax, aka elizabeth warren, kamala harris, that this kind of move will hurt the party's chances in a general election, that person might get nominated but will go down in defeat. what do you make of it? >> i do think among the older generation of democrats that are there, socialism is still auditory word with the exception of bernie sanders, who openly embraces it and they are not thinking about it in the context of soviet union.

do i think it's really interesting to watch. i mean, all of the people that you just mentioned, the truth is the democrat party, no matter what you call it is heading further to the left, i mean, all of the presidential candidates practically are supporting medicare for all, all moving in the direction of sort of left-wing socialist policies that just a couple of years ago bernie sanders was seen as the radical, now seen much closer to the middle of the democratic party. neil: you're right about that. i had former indiana senator and governor democrat who just, you know, when i joked, are you running for president, he said this party would never nominate me, paraphrasing but echos the theme you heard elsewhere, those the more moderate men would have a tough time. i even suggested that bill clinton would have a tough time getting nominated at this moment, what do you think? >> for a number of reasons, bill clinton would have a difficulty getting nominated in the party. i saw claire mccaskill warning

democrats, democrats should take that as a sign. neil: it's not -- you're right about the socialism thing but when you take socialism out of it, medicare coverage for all or taxing the wealthy at a much, much higher rate, aspects of socialism and bigger government and how you pay for bigger government, that a lot of people, a majority in fact, half republicans when put that way, so does that aspect worry you? >> here is what it tells me actually, it's a symptom of a problem that's animated both the trump base and the left-wing base and what that means to me is that our policymakers, our politicians in washington do have to be cog nizzant -- cognizant that the middle class is shrinking, yes, gdp is rising

and there's all indicators in trump economy but a broad swath of american public that doesn't feel it in the same way and they need to be respected and they are looking for solutions wherever they can find them and that's why republicans need to be careful here. if you see socialism anywhere in polling data, it's really a symptom of a larger problem and ultimately that people need to be taken care of. they need to feel like they are taken care of by policymakers and by far too long in washington they haven't been. neil: let me ask you, great news and all, but you might have heard in virginia, the virginia attorney general mark admitted that he too controversial pictures from college yearbook dated back in 1980 wearing black face, follows what is going on with governor northam and similar controversial fibbing user, lieutenant governor fairfax accused of sexual misconduct, the top 3 who the governor and those next who

would be in line for governor could be questionable and now the next in line, fourth in line if it were to come to all of those guys resigning the house of delegates, the figure is getting messier. >> hey, maybe the republicans and speaker of the house in virginia might become the next governor, that was unthinkable. neil: all the other guys would have to resign. >> basically resign and not even appoint acting lieutenant general so lieutenant -- sorry, lieutenant governor, yeah, what you have here, remember, mark harrigton case, the third in the pole called northam to resign. neil: didn't anyone elbow him and say, boss -- >> you might want to check files. he has that problem as well.

neil: thank you, my friend, daily caller editorial director. we are waiting to hear from the president of the united states in roosevelt. the president because of disproportionate wealth, big name in financial community and very close confidant as his wife and he's the guy who lead the charge, others aren't keen of criticisms he has on the world bank, we will see what happens after this.

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>> welcome back cavuto coast to coast i'm gerri willis. spotify to buy companies, spotify podcast publisher, were

not disclosed, spotify the second largest platform, maybe more profitable than music. last week siriusxm purchase, the company has 40 million paying subscribers who are streaming music service, apple has more than 50 million, spotify has 96 million paying subscribers, spotify chief executive estimated 1 trillion-dollar market while music and radio 100 billion-dollar market, podcasting audiences are loyal spending twice as much time using the service streaming one music, spotify releasing fourth quarter earnings beating tops and bottom lines, and also blowing out earnings today gm beating on top and bottom line, toss it back to you, neil, the only dark cloud that gm mentioned in call i had with

them was china, they were seeing sluggish sales there, they say pricing is difficult there and they say sales in china will be flat for the year, neil back to you. neil: thank you very much, gerri willis at the new york stock exchange. we are waiting on the president to announce, when the activity starts there, we will go there. in the meantime, we have dierdre bolton and connell mcshane, connell, talking about the environment here and more to the point about the markets and what they've been doing and we have seen a run-up uninterrupted now, 7 weeks. what's going on? >> who would have thought it? it's interesting because we have christmas eve issue where everybody was starting to get worried about everything, turned out maybe we were too worried just about everything, but a couple of things, the corporate

profits have come in and we see the ones after the bell or the ones in the morning, generally speaking they did good, profit growth has been better than expected, but more than anything else, the federal reserve got on board and changed the stance and now we have patient man running the federal reserve and the federal open market committee and i think -- neil: private and all is good now. >> president trump actually sat down with jay powell since november 2017 since he appointed him which i thought it was fine because in the past presidents need more -- meet more frequently. not all of the time. there you go. apparently. [laughter] neil: what's going on from technology? i noticed fang stocks are not back with vengeance but back from christmas eve lows? >> i think there was a lot of concern like connell said, people were worried and we are starting to see more normalization, you know, apple is normalizing and really going

right after microsoft at this point. so i think this is where -- neil: apple will be a target on capitol hill? >> it's a false target. above with their face time technology, you could hear conversations when you weren't supposed to. >> a 14-year-old found it. >> a bad bug. they'll be on capitol hill. it's been fixed. effectively on capitol hill that's going to be political -- >> the difference between that and what we have seen on facebook, things are not always what they seem, seems that's truly a bug as opposed to something that was mote -- motivated in the case of facebook by profit, trying to make money off of advertisers, whatever the case may be. apple made a mistake, roll out a software upgrade to correct the mistake which is a different type of situation. people like to jump on them

because apple are holding privacy issue. >> what's funny, apple, the reason they were sketchy in december while things were worried is because they didn't have the diversification of selling the data that has made facebook so profitable. they aren't making as much money of people's data. neil: again, they are still down a lot from their highs but they have clawed back, apple was the last to do it. so what are you hearing on the stocks? >> well, i think one of the most interesting calls, ideas was from jpmorgan that apple should fly netflix. sometimes i'm not sure put title, makes sense, it has the money to do it, to your point as it builds out the services and decrease it is revenue as we all talked about on iphones, why

not? neil: start a drones program. >> it's expensive. >> apple music and hasn't come close to spotify yet. >> right. >> breaking into that business. they have plenty of content, disney plus is priority, i think bob igor called it priority number one in conference call but busting through netflix kind of established brand-name is really difficult to do, so the question now becomes for them even anybody getting into the streaming, well, can you take market share, can you take subscribers away from netflix or can you convince all of us to say, you know what, i have a netflix account, let me get espn plus and how many things am i willing to buy. >> apple has been aggregator from what everything i have seen from disney plus it's only disney content. they will have to make a decision and also it's cheaper, maybe you don't care if your kids aren't crazy about disney, 5 bucks.

>> how many people do that? neil: the president is going to introduce his head of world bank, the country is so rich, we get to pick who heads it and the president decided on david, someone who was early on the trump campaign, there is that. you know, we look at the world bank and if i remember correctly he was critical of world organizations that they don't serve the u.s.' interest, waste a lot of money, ignore the united states, what do you think? >> the same idea of trying to consider un ambassador say to bash the un in the past and, yeah, you're right about that. what surprises me a little bit because we are all familiar in financial media with david with

chief economist at bear stearns and either false narrative out there or we should be careful about judging a book by its cover that you assume the chief economist at bear stearns or big banks from many years ago, globalist type and david is being reported, i have interviewed tim a ton of times, he's being reported over the last couple of years as you said as early supporter of president trump, make america great approach. >> it seems as if he wants to roll back -- be able to lean on private institutions as well and to your point doesn't think at the moment that we should be subsidizing the financial development of other countries. neil: not politically in our interest and that rattles some of the world bank, are you changing -- >> my favorite quote is brussels think tank, the trump administration pick, it could

have been worst, we actually know david. [laughter] >> indirectly have a role of policing companies, different markets like european union where a lot of our high-tech guys, apple included, google, alphabet, they get closely scrutinized. not nearly as aggressive as the governments themselves but it could be indication of new sheriff in town. >> yeah, i think there's an aspect to which trump wants to convey the element of, well, i still have leverage over these companies, i still can put the rug out from under them whenever i want. i think, it's a lot of sort of pushing forward this idea rather than executing on it long term. i think for those companies they would rather leave them primarily alone.

>> i wondered too because the president sent signal, we are reminded bipartisan support. not the world bank but infrastructure spending, going after drug prices, unjustly high and shot up even higher and it was the senate oddly enough that looked at 6 or 7 of the drug ceo's to come and have a chat with them and that was a republican senate. i'm wondering there's definitely a new cast here. >> in our own research at fox shows that, what's your number one concern and they asked voters, independents, republicans, it was health care and cost of drug feeds into that. i think that would be huge. neil: the socialism argument, the direction -- the democrats wanting to and the president was using what's happening in venezuela but it was just as easily saying that the trend, state tax, wealth tax, much higher taxes, that you don't wanting to in that direction. >> i think it's undoubtedly setting up a very simple easy to

understand argument for potential reelection in 2020 at least on the economic side of things where he's going to -- i think this is the first of many times we will hear this president come out and say america is never going to be a socialist country which then brings the idea what type of candidates democrats nominate. if you're running against joe biden, hard pressed to say you're a socialist, mike bloomberg, you're socialist, if you're running against democratic candidate that are picking up momentum and you can effectively make that argument to this whole group of people who look at this president and are relatively happy with some of the policy decisions he's made, broadly speaking on tax cuts and deregulation which he talks about all of the time and rightly so but aren't so happy with the president on personal reasons, the way he has conducted himself, for various other reasons, that's the group in certain state that is will decide the election and i would think just logically speaking would be susceptible to that

argument, so it'll be interesting to see what happens in the democratic primary. >> although i would say it does seem like the tax cuts as you said in the show aren't really ringing the people as they would expect them to be. neil: well, the criticism, the companies are free to do with the money what they want, the problem was that they plotted into their own stocks. that's why it didn't have the bang for the buck. >> of course. >> i think it's going to be interesting after tax day, right, so april, may, june, i would be interested to say what people are getting back. >> you would be interested in our own tax return. [laughter] >> i can't believe this. >> you'll see me eating, which eerios breakfast, lunch and dinner and you know what happens.

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neil: pretty strong earnings even though there is problem ins china. let's go to jeff flock. >> neil, pretty good for gm. they made about $8 billion in profit last year which is great. good, good stuff. they they would for guidance going forward. but you point out china. look at numbers on china. first of all mary barra saying it will be a challenging environment going forward. it will cost as you billion dollars next year because of tariffs and commodities. the cfo of general motors saying we expect china's, china equity investment to be down moderately year-over-year. why is that? well in q4 sales in china, you know, gm sells more cars famous in china than north america. they're cheaper. they don't make as much money. they sold 1.3 million cars in q4

last year. this year, less than a million cars. cadillac was a bright spot by the way. they sold 200,000 cadillacs in china, up 17%. that is a positive. mary barra asked about the whole jobs things. they are shutting down those four plants. 2800 workers impacted. she said today, that they will have jobs for most of them. that is the latest, neil. neil: i like that part of it. thank you, jeff, very, very much. these are folks coming out right now, you can see, david malpass is the taller gentleman. right of the screen. steve mnuchin behind him. wilbur ross, commerce secretary. these are the principles in the financial community. malpass's wife. she is very big in political circles in new york, as is david. so this is power couple as they say. president of the united states

heading this world bank issue. whether that person should be a traditionalist, in that sense, bear stearns, david malpass with bear stearns pedigree would fulfill that. he has been a critic, as the president, of these multinational institutions financed essentially by banks, that have missed a bigger picture here. that there were more globalist-minded, looking at who they are lending money to long term for the global community. malpass himself endeared himself to the trump administration for some. things he has said about such global institutions, this one he will head. edward lawrence. a unique pick but not a surprising one. reporter: he is well-known within financial circles. working with the treshdid i department, has a lot of respect for things that he already accomplished. trade stuff he is working on

with the treasury department of he has respect of folks within the administration. they believe he will be a firm hand if he does get into the world trade organization. he is not a pushover when you talk with him. i talked personally with him on a couple of occasions and he has very firm ideals about things and can back up his point when it comes to it. he is not somebody to be able to be bowled over by the organization itself there. an interesting pick from the president, neil. neil: now, are we going to see changes how the world bank runs or even lends? >> that is something the president would like to see. as you know, david malpass has talked about the reach of the world bank and how it reaches out, maybe oversteps its bounds he says in the past he says. there could be changes from within. the first step is trying to get him confirmed in this. as you know the u.s. only holds 16% of the votes so to speak, putting him at head of world bank. there are other factors.

neil: steve mnuchin and wilbur ross is there in attendance. president of the united states beginning to make the formal announcement. the head of the world bank. >> hi, everybody. thank you very much. it's a lot of fun for me doing this one, we're dealing with a very special man, a very special person. today my pleasure to announce my choice for the next president of the world bank, mr. david malpass. and i've known david for a long time. very extraordinary man. with us today, david's wife adele, his three children, robert, emily, junior, i want to thank you all for being here. i want to congratulate you all. thank you very much.

[applause] we're also pleased to be joined today by secretary steven mnuchin, wilbur ross, alex acosta, ben carson, as well as ambassador bob lighthizer who is right now negotiating with china. how are you doing? where's bob? how are you doing with china, bob? give him some breaking news. it is going well. administrator linda mcmahon and treasurer jovita corenzsa ivanka trump and kellyanne, a lot of great people. dr. jim young kim, i launched broad search for a replacement after interviewing many very qualified candidates. i knew that david was the right person to take this incredibly

important job. in addition to his current service overseeing the imf and actually overseeing the world bank as undersecretary of international affairs at the department of the treasury, david brings 40 years of experience in economics, finance, government, foreign policy to his new assignment. after receiving a degree in international economics from georgetown university's prestigious school of foreign service, david served as deputy assistant secretary of the treasury under president ronald reagan and deputy assistant secretary of state under president george george h.w. bush. he distinguished himself as staff director of the joint economic committee of the united states congress. and he was named to the boards of many notable institutions and

charities, highly respected man. including the council of the americas and the economic club of new york, "the wall street journal" just said today in an editorial that david malpass is an excellent choice which is true. america is the largest contributor the world bank, giving it over one billion dollars every year. my administration has made it a top priority to insure that u.s. taxpayers dollars are spent effectively and wisely. serve american interests and defend american values. david has been a strong advocate for accountability at the world bank for a long time. he has fought to insure financing is focused on the places and projects that truly need assistance including people living in extreme poverty. david was also critical of the creation of the world bank's