airlines would put restrictions who can fly, which airlines can fly. boeing 737 max 8 jet. that is coming from india. ashley: yeah. stuart: the overall market is back. we're up 100 after being down 220. connell mcshane in for neil. connell: i'm connell mcshane, filling in for neil, he will be back tomorrow. this boeing is the story boeing is the only exception. after second fatal crash after 737 max jet in just five months. we have number of developments. indonesia followed china grounding all 737 max jets.

it is clear to operate in europe. you heard ashley webster a moment ago talking about restriction on pilots flying in india. this is story we expect to develop throughout the day, throughout the week. jeff flock starts our coverage. out at midway airport with the coverage there. >> midway, because southwest is the biggest customer of the boeing 737 max here in the u.s. more on that in a moment. but first, as you point out multiple developments in the last minute. one you heard from ashley, as you reported, connell. this may be pointing to a suspicion about some sort of pilot error perhaps. they need to make sure the pilots know what they're doing and are totally checked out. that might suggest that but investigators looking at all possibilities. boeing with a new comment saying they have no new guidance based on information they have thus far, in terms of grounding aircraft, making operational changes.

despite that multiple entities and countries grounded this aircraft. that includes china with all the 90 plus aircraft they fly. indonesia and caiman airlines and ethiopian airlines which was a victim of one of the crashes. now to the u.s. component of this. this aircraft is flown largely overseas but also big here in the u.s. i want to take a look at the numbers. top customer for the 737 max here in the u.s. is southwest. they have ordered 280 of these. they have currently taken delivery on at least 31. a couple more since then and are flying them. united ordered 136 of these aircraft. they have 12 in the air. american has ordered 100. 2 it are in the area at the moment. as the reason for the chinese grounding the aircraft, some have speculated could this partly been as a result of the

u.s.-china trade dispute? we have been tough on chinese companies. maybe chinese coming back, being tough on a u.s. company. boeing, here is what the chinese civil aeronautics authority said, i quote them. it is a hard decision to ground all 737 maxes in china. it is unrelated to china-u.s. trade dispute. so they're saying at least that it is not. this is a hugely important aircraft as you know, connell, for boeing. this is is, 737 is the best-selling aircraft they ever made. this latest incarnation has 5,000 orders out there which they have only fulfilled about 300, 400 of those. big aircraft. costs a lot of money. $100 million. $130 million. we'll see where it goes from here. connell: we'll continue to follow. jeff flock in chicago. as china grounding 737 mains

comes amid the china-u.s. trade talks. larry glazer is on this. it is interesting to look at this. jeff's last point before we even talk about china is important, this is a huge story for boeing as a company here, i mean, we don't know really what is going to happen. if you have a plane that they have delivered 350 and there is 5000 ordered this is really the future of the company at stake for boeing. what do you make of what is happening? >> certainly the headline is horrific. for investors this should give them paws when you see this risk associated with the company. with that said, boeing remains the crown jewel of u.s. manufacturing. it is also the crown jewel of u.s. exporting this is our number one exporter. it is also a major defense contractor. you have that many issues affecting a company amidst a significant trade war with china. this trade dispute going on, boeing become as pawn in that

game. they're an easy target for any kind of retaliation that might come up. now you have an excuse to take it out on a iconic u.s. brand. for 150,000 u.s. boeing employees, they become concerned. you make a great point. this is critical to boeing's future. 40% of the profits, 2/3 of future deliveries. that backlog could to out the window very quickly if the headlines are worse and become more after concern. connell: india faa with the headline saying you have to have 100 hours of flying experience to fly one of these planes. jeff, maybe that leads you to believe and speculate pilot error is at play. human error, we don't know. i'm reading as you were speaking, south africa comair grounding 737 max. they will not fly either along with indonesia and china.

what is the secret, the next step the company can make here? they have already said they're not changing their guidance to carriers but do they need to be moring a -- more aggressive getting out in front of this? >> whether the facts suggest it will be pilot error or manufacturing a concern. again this plane is so critical to the future of boeing because this is where the growth is coming from. this is where they're targeting emerging markets. when you see the headlines coming in, they're coming in from emerging markets. that is where the growth is this plane was targeted towards those fast-growing companies. ethiopia was one but many, many others. for boeing this stock has been a total monster, up 30% a year for five or 10 years. gravity can catch up with you. when you're the largest contributor to the dow performance, you can become the largest detractor quickly. investors will watch the data, recognizing this not change the fact that boeing is our greatest

exporter but may give us a pause in the boeing rally. connell: let me follow that as a investment question. boeing is not a trade. it is a long-term investment for everybody that owns it. do you change your outlook on the company because of this? i don't know if you own the stock, if you own it do you sell it, if you don't own it do you buy it? how do you handle something like this given there are some unknowns? >> interesting we talk about trade issues and that the fact this could be a real victim in the trade war t could be a major beneficiary in the trade war. assuming trade resolutions happen, we make a deal with china and free trade is embraced global recovery, and we have global recovery. emerging markets are recovering this year. this is company we want to own and be cautious a pullback we want to look at the stock. for long-term investors if you're very, have he patient, very few companies so unmatched on the global scene with such

dominance in high-skilled areas that really represent america, you can't wave a flag more broadly than boeing. connell: i get you. you figure out what the nice is going on and we don't have a trade deal with china. does it get caught up in the talks? the chinese say the two are not related when they ground the planes? >> this is not first rodeo. they had the dreamliner had some concerns years ago. they are skilled handling public relations. the company will be very, very systemic in concerns how they handle it, look at data. they're hopeful a isolated incident. that safety remain as paramount concern but what trade concerns it is going to weigh on the stock because it is such an easy target. we all want to see free trade. we want to see the markets open. we want the world to embrace american products this will be the beneficiary of that. it may take time for headline

risk to clear. we wan to look at opportunities to look at the company assuming it remains the type of iconic long-term brand it is today. connell: thank you for coming on, larry glazer. market looks good among global concerns out there. fed chairman jerome powell, did sound, this may be helping stocks, minus boeing, jerome powell sounded quite optimistic on 60 minutes last night. >> are we headed over all to a recession. >> last year growth was highest since the financial crisis in more than 10 years. this year i expect growth will be positive and continue to be a healthy rate. connell: former federal reserve board of governors member randall crosby is with us. i wonder whether that is the case, the chairman is always careful at his words, we continue to grow at quote,

unquote healthy rate? what do you think? >> seems perfectly reasonable f you look at the data for the u.s. economy. it is coming in reasonably strongly. we had more data on retail sales. after questions about december. seems stronger more recently. i don't see the u.s. economy falling off a cliff. there seems to be a lot of concerns about the end of last year. i think the fed is on pause for quite sometime as chairman powell reiterated, wait and see mode. they will wait until they see something that forces them to act either to raise rates because there is inflation or lower rates because the economy is starting to turn down. he doesn't really see that. that strikes me as perfectly reasonable. there are a lot of risks out there. connell: talked about the end of last year, as time we were getting quite concerned about the economy. one thing about the retail sales data we received this morning, you're right, there was bounce back in january, it seemed to confirm in december, even though we had many experts come on say,

that number was a little off, it seems to confirm december was rough in terms of consumer in the retail space. what did that tell you if anything? >> you never want to put emphasis on one number. you want to see broadly where the trend is. december was rougher than we thought, but january bounced back. if you smooth over a few months, it doesn't seem like the economy is falling off a cliff. we had bad december, worse january i would be saying something different and the chairman would. connell: makes sense. january bounceback in the context matters more than it would ordinarily. in terms of outlook we, the argument we keep having is whether the u.s. as best of the bunch is the place to be because of global slowdown fears. the chairman got it in right at beginning of his interview with so

scott pelley that they start to drag on us. where are you on that? >> the world economy is slowing. two years ago everybody was growing pretty well. last year as the chairman said we had strongest growth in a decade as rest of the world is slowing. looks this year europe will slow further. china shifted to a lower gear with a lot of unis -- uncertainty how strong they will be this year. that will have impact on the u.s. we were talking about boeing before. obviously if there are less demand for u.s. exports that is going to affect u.s. firms but we are largely on a internally trading economy. certainly we are one of the world's largest trading partners but as a percentage of overall activity in the u.s. it is smaller. so it has an impact but not as much of an impact on countries like china, germany. elsewhere. connell: thank you for being here, randall crosby. thank you very much for joining

us. let's look at things more broadly. the dow is up 80 points with everything going on with boeing as we talked about. in washington the president comes out with a new budget, the new white house budget proposal unveiled. remind you, join us "after the bell," 4:00 p.m. eastern time, see how the market closes. whether boeing is enough to dragdown the overall market. we'll be right back. ♪ - i think the best companies succeed as a team,

and our shirts from custom ink help bring us together. we just upload our logo, and if we have any questions, customer service is there to help. - [male] custom ink has hundreds of products to help you look and feel like a team. get started today at customink.com. connell: all right, president trump's 2020 budget unveiled. the white house is calling for a return to quote, unquote, fiscal sanity. get to blake burman on what they are proposing. blake? reporter: let me go through

some. highlights. military spending, budget for the pentagon, 5% increase up to $750 billion. proposing to decrease non-discretionary defense spending by 5% as well. in the area of 567 billion or so they are calling for a balanced budget in 2034 along with $8.6 billion for a border wall. let's sort of unpack all of this. let's start with one of the headlines being the wall. democrats, as you know control the house of representatives. so that request is most likely a nonstarter as nancy pelosi and chuck schumer put out a statement saying to the effect that the president is not going to get anywhere near that amount. this is what they said, quote, congress refused to fund his wall and he was forced to admit defeat and reopen the government. the same thing will repeat itself if he try this is again. we hope he learned his lesson. reminder the president budget is request to congress, not something they have to absolutely follow line by line. when we talk about balancing the

budget by 2034. we also got the deficit projections for the next 10 years or so it is a trillion dollars, north of a trillion dollars in 2019, 2020, 21, and 22 and 900 billion or so in fiscal year 2023 the administration is saying they are going to be decreasing deficits by 2.7 trillion over the next 10 years. but when you dig into it, into the numbers, this comes from, at least some of it from non-defense discretionary spending in which they propose to reduce that by a trillion dollars over the course of a decade. connell, you know d.c. as well as i do. if they're able to reduce that by a dollar some might consider that a win, let alone a trillion dollars over the course of a decade. connell: we're getting a briefing on this, right? >> 2:00. connell: the way the white house works. you can help them dust off the

lecturn. >> bring out the big briefing book. we'll go through it line by line. connell: 2:00, sarah sanders, and acting omb director. blake burman. we'll talk more about this, bring bob grady in. former omb director under president bush 41. these things are by definition pipe dreams. the way that white house budget proposals work. this idea of balancing a budget 15 years in the future, people don't really seem to care about that either party. >> that's right. it's a statement of direction. in that sense it is fine. i actually agree we should be increasing defense spending because if you think about it, defense spending went down as percentage of gdp from 5.5% at the end of the cold war, down to 3.2%. it was really a peace dividend as percent of the budget, it

went down from 27% to 15%. we do need to modernize the air force, increase the size of the navy, et cetera. the world is still a dangerous place. one thing you didn't hear from blake's report just now, the whole discussion we'll cut a trillion dollars out of nondefense discretionary. non-defense discretionary is only 3% of the gdp as well. only 15% of the budget. you can't balance the budget on back of that. that piece of spending, funding for r&d, nih, nsf, environmental protection, highways, that has been dead flat in real terms adjusted for inflation for a dozen years. the problem in the budget is growth of entitlement. we haven't heard any proposals to reform growth. connell: people outside of government, there has been panels performed, alan simpsons of the world, from time to time they come up with proposals. nobody really acts upon it.

at some point we spend on military, as warranted it may be at some point it become as issue or does it? the popular tuck in washington did he sits don't matter. people have been saying. >> it's a big problem. total debt is $22 trillion of the u.s. government. that is $70,000 for every man, women and child in the country. or $200,000 plus for every household in the country. if interest rates go up it will get worse. we're lucky interest rates are so low, the debt paid by the government on debt held by the public is 3%. if they go to the long term 7%, that interest payment in the budget every year will go from 500 billion to 1.2 trillion. connell: it won't anytime soon the way the federal reserve is set up and outlook for interest rates. the outlook for trajectory we deal with higher rates asset by

the fed and interpreted by the markets if anything now that doesn't seem to be the case. that is unlikely if that is 2020 issue as you might have thought it would be. >> yeah, you know when you say nobody is talking about entitlements, here is what is interesting. the democrats are talking about it implicitly they have increased them quite a bit. under president obama the amount spent on medicaid went up 50%. 50%. in part because obamacare almost all the people who got health insurance under the aca by going on medicaid. there weren't very few people if any net basis at all, got insurance by enrolling in private exchange. look at next decade, 87% of the growth cbo forecasts next 10 years will be in three things, social security, federal government's health care programs, medicare, medicaid, interest on the debt. that is where you focus the budget conversation.

if i can propose a single forum, here is what i would say. congress should vote on entitlements every year. we have a crazy system where the federal government, we have all this back and forth and fights over the appropriations process which is 15% of the budget is defense, 15% of the budget is non-defense discretionary. 70% of the budget which entitlements plus interest, they never vote on. never talk about it. by law it keeps going. what household doesn't even discuss 70% of their annual budget each year? that is the real problem. connell: good point the thank you, bob o'grady. >> thanks for having me on. connell: no problem. venezuela, boy these blackouts have been something else. they have turned deadly in venezuela. the maduro regime is out blaming the united states for the whole thing. we'll talk about it when we come back. i switched to liberty mutual

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♪ connell: now to venezuela where the blackout has turned deadly. the country is entering it is fifth day with no power. nicolas maduro blaming the united states saying cyberattacks are to blame for the blackouts in his country. asymmetric can president, vanessa neumann, she has been advising juan guaido on security matters and helping us out during the crisis is. what about pa duro blaming united states? >> they don't want to assume responsibility. there is only one cause for this blackout. it is absolute corruption. the guys affiliated with the regimes, money laundering positions they toll $100 billion from the electrical system. corruption is so bad even international organizations won't give them money anymore. connell: you're plugging into what is going on down there. >> yes. connell: it is hard to figure

out how bad things are. hard to communicate. >> it is very heart to communicate. a lot of people can't get through to their families. a lot of my friends couldn't get through with their families. i had difficulty getting through with friends. some people are coming back on. you have to wait. they are using nine volt batteries to charge the cell phones. connell: what a mess. what is the breaking point of this particular crisis, do you think? is. >> it is horrible. people are dying. you see videos of people sort of trying to keep little babies alive dying in neonatal centers. people had enough. you can't pump water or cook without electricity. there is break down in civil order. in couple days we'll run out of gasoline in the world's richest country, richest oil country. they can't refine it because all the money has been stolen. connell: there were 1800 service stations and about 100 of them, i read this, i don't know what the update, 100 were operational

f that is the case -- >> that is going to go down. then what you will see, you will see even more people dying. they can't get to work. it will cease. it's a human tragedy. the humanitarian crisis is phenomenal. and now, they were already predicting two more million people will leave this year. that is before the blackouts. now with the blackouts and gasoline, people are going to run for the border. connell: we've all been assuming, we ask you this question a lot what happens to maduro here. do people just turn against him or more importantly does his own military turn against him? what if we go on a few more days with the blackout and neither one of those things happen that he is is removed totally? >> there are ongoing talks. john bolton went on twitter said the national assembly who supports guaido is having rapid, extensive talks with the military. he keeps calling on them. you don't want to be part of this crisis. you don't want to be part of

this death and destruction of the country. we're hoping it will change. something needs to give soon. otherwise people will really lose hope. the exodus will continue. connell: you grew up in venezuela? >> i did. connell: you talked about this on television before. it was tremendously wealthy country at the time? >> yes. connell: are you still optimistic it can get back there economically? >> yes it can. venezuela has liquidity problem but it is not bankrupt. it has plenty of everything. oil you dig a hole in the ground to find oil. gold and everything else. all debt will have to be restructured and renegotiated. things will have to be privatized. once you stablize finances and currency you can do with solid economic plan and new administration. then labor is cheap. construction will be cheap. rewards will be great. we can do it. we need to get there. maduro needs to flip and cubans need to stop advising him. connell: that is what is happening now. >> the vice president of cuba is

in caracas trying to help maduro retain power. connell: thank you, vanessa neumann. while all this is happening in united states we have domestic political situation looking at. bernie sanders banking on the popularity of socialism in this country. former bernie sanders campaign staffer joins us now on this idea that younger people are more, kind of apt to support, we've seen data in recent days, about this socialist ideas. what do you make of what is happening in the early days of the 2020 race? >> sure. it is very simple, similar to what happened in 2016. 2.4 million young voters voted more for him than they did hillary clinton. even passed president obama's vote with the young people. what person wouldn't want free health care, college tuition, $15 in minimum wage. he did well with young people

before. only problem they didn't come to the polls. connell: we were talking about venezuela and failure of socialism and some others that doesn't resonate. >> obviously i don't think it is. it didn't look at first time in 2016. i don't know if they look at historical standpoint what it did in other countries or what things play out next 20 or 30 years. young people are concerned about how they pay for college, will they get a job when they get out. it is resonating with them. the key how do you get them to come to the polls in the general election? connell: before we get there though, it is the primary. you get through that, last time, it was really one-on-one matchup, right? bernie versus hillary, it was that choice of a lot of younger people like bernie, and establishment with hillary, might we see that, even so crowded right now repeated with bernie sanders versus joe biden? or do you expect or see someone

else maybe stepping up? >> no, it will be very different. i'm not a socialist but i joined his campaign because i was anti-establishment. now that was only choice. him or hillary clinton. now you have 20 plus candidates to choose from. even people like myself who worked on his campaign will be looking at all of the candidates. i can't say he is better than hillary clinton. we have to look at them. joe biden, anyone else coming to the forefront. 2020 is completely different than 2016. he certainly shouldn't take it for granted. connell: that is interesting, new iowa polling showed him in pretty good position, second behind joe biden, 25%. 127% for biden. everyone else in single-digit. to your point name recognition would have a lot to do with this, if anything he is trending higher in the polls. maybe because he announced he is is officially running? >> of course. when i first started working for bernie sanders it was in the fall of 2015. people would ask me bernie who

in no one knew who he was. he didn't have any name recognition. last three years they have been organizing our revolution and him consistently going across the country he increased his name profile. the flip side he will be vetted more. will look at him even harder than they did before. we'll find out things about his record, including people like myself. we have to take a look to start from the beginning. who don't know joe. rest are not known and haven't had a chance to get their brand out there. connell: are you for anyone else? doesn't sound like you will be for bernie again. are you supporting anyone real quick before i let you go. >> i don't believe in blind loyalty. that include senator sanders. i want to look at all the candidates. make my decision as we get closer to the time. connell: thanks for coming on with us. >> thank you. connell: we appreciate it. tesla is back in the news today. it kind of changed its tune. the stock is up by the way almost 2%. changed its tune, planning a price hike for cars.

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connell: tesla's aisle lon musk has until today to respond to the sec contempt claims. we bring on charlie gasparino. >> when i see musk i need to smoke pot for a reason. connell: because he was smoking pot on a podcast. >> this is more serious stuff. if he loses security clearance for spacex for smoking pot on a podcast, and marijuana is banned, they can essentially get somebody else to get that. spacex can keep going. he remains ceo. that is not as bad. this could be interesting. i don't think the sec will take the most drastic action out of it which would be making like, woe have to relinquish his role

as ceo. they could do that for violating the orders, the terms of the settlement, if he tweeted out it would have to be accurate and it would have to run it through a monitor. apparently this initial tweet about production numbers was both inaccurate -- connell: never ran it by anybody. >> never ran it by anybody. i don't think they will throw the book at him. there is a chance they could. connell: kind of weird. >> if they do, there is investor in tesla, they throw the book at him, the stock is going to crater of the just be prepared. connell: what is weird about it, it may have been you on the air when this first came out if you're in the sec you're kind of in the business of protecting shareholders for the most part, and if you go after elon musk really hard you will be hurting shareholders. i don't know if there is any balance or not? >> that is clear. i've been speaking to people that know a lot about this case, that are dealing directly with the sec on it that is the essentially the calculus the sec is using n the back of their

mind they're also cognizant if they keep letting him get away with it, is this establishing a precedent it will be ultimately worse for investors because the guy has not been disciplined and he is remaining as ceo. connell: of course, especially someone else comes along does something similar hammer him or her? >> set as precedent for the markets. should shareholders, does he need to be ceo for the company's long-term performance, not short term. long-term performance? i think, are they better without him being such a distraction saying and doing stupid things? i think that is part of the calculus. my guess is, just knowing what i know about the sec, how they hate tanking stocks, particularly this sec which is very pro-business, they will settle on something that comes before -- connell: whether he was ceo he would still need to be involved in this company long term. this guy is a such a genius engineer. >> martha stewart, someone can

correct me, i covered the martha stewart insider trading case a lot. she went to jail for it. she was banned as officer or director of the company for a while. there was another ceo instead. she was still like the creative director. that is something you probably could let him do. he is major shareholder of it. largest single shareholder. he can still be part of the team. maybe not the management where the sec stops you. that may be the best way. i don't think they will go there, this sec in particular hates moving stocks down. connell: any thoughts what was announced by the company over the weekend, close all the stores, tesla retail locations. they backtracked as a result, some. cars will go up in price? >> here is the thing, i don't know, this is why you worrytesla in terms of management, whether he is capable of managing the company. he keeps losing people. part of this is the fact that he doesn't have a team. i've seen big companies that

lose teams fall into complete disarray. i will tell you this. it is not just the ceo that has to be good. has to be everybody under him. when sandy weill had a big blow-up with jamie dimon back in the day under citigroup. put together citigroup, smith barney, brokerage, big citibank, biggest bank in the world, huge company. he has a big falling out with jamie dimon. jamie is like third in command, second-in-command. leaves with a whole team, slew of executives. that is one of the reasons why citigroup escaped blowing up by the skin of its teeth. you need a management team. one of the problems that elon musk has, so many people leave. he is hard to work with, you come out with messages misleading to the market. they're not thought through. i think that is one of the problems with keeping him as ceo. long term for investors. listen, maybe it is good that tesla, you get rid of him. the stock gets cut in half, which might happen, by the way. he could stay as creative

director. real ceo comes in with a real team and leverages his management that would be, excuse me his knowledge. connell: his expertise. >> his expertise. connell: he is an gear. >> engineer. leverage is what he is good at. clearly management is not it. again i don't think that will happen. i think they will do a half measure thing. who knows what happens with the stock. connell: thank you, charlie. charlie gasparino there. we know it has been 10 years since the bottom of the 10-year bull market. have we already hit the top? we'll take that up after a quick break here on "cavuto: coast to coast." ♪

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connell: bull market celebrated its birthday over the weekend turned 10 years old. slowdown fears are creeping in depending who you talk to or which country you look at. typically bull markets last half this long so we're told so is an end coming soon? we will see if we can scare everybody, with mike murphy, and deirdre bolton and wall street historian, john steele gordon, in the studios as well. welcome to all of you. i don't know how much history matters in this kind of case as opposed to the world we're dealing with, the economy we're dealing with, but what do you make of this 10-year bull run?

>> i think certainly a long year bull run. 1920s was seven years. that was a long bull run but the psychology doesn't seem to be there for a top yet. connell: what would bring that -- if you could name one or two things could end this, what would you worry about or point to? >> john templeton the great investor said pull markets are born in skepticism, mature in optimism and die in euphoria. when everybody thinks the market is going up further, get out of the market. connell: are we euphoric, mr. murphy? >> i'm not your for rick, yet. i agree there is lot more room to run. the market will not stop going higher when we hit a certain is date or dame. it will stop going higher when the fundamentals change or perception of the fundamentals change. pour people watching at home, forget about 10-year anniversaries look at stocks ready to run. connell: apple, alpha the about,

you were saying before you went on, pretty good day for tech. boeing getting a lot of attention. >> great day for tech. we're close to the old highs before we hit the pull back at the end of last year. big tech hasn't led us there. googles, apples, amazons, facebook, still have a long ways to go to get back to the highs. we knee big tech to drive us to new highs. that we're starting to see. connell: that was last year's story, deirdre. >> you're right. in the fourth quarter. tech shares, analysts calls push apple, facebook higher. bank of america out with a note, even though facebook obviously has its challenges, this conversion to stories and focus on messaging is going to piv that stock a little room to run. apple one of the wide shares, got upgrade as well. seems to be for what it is worth from the investor community optimism for big tech. >> what about china, guys. we had the conversation forever,

john, for a historian wouldn't seem forever, talking about the chinese trade talks for a time and still haven't wrapped up. the idea that hangs over the stock market, how do you make of that in terms of how we should wrap it up. >> both countries want a deal. therefore they're going to find one. connell: simple as that. >> yeah. connell: just a matter of when they find it. won't be late march or early april. >> but they will find it. connell: what do you think, mike? >> i agree. we'll get some sort of a deal. market is being looking past this in a sense. connell: they are. >> when we get talk after deal imminent the market has a bit of a rally. the best thing for the market if we get the big macroeconomic, the macro picture out of the way, geopolitical picture out of the way, come back to the u.s., we have a slowdown in other parts of the world. but the u.s. has real growth. if we focus on that, that will be good. connell: best of the bunch argument, deirdre. >> it is best of the bunch. there were concerning data points out of china. export data was down 21%.

that was worrying. ecb pretty much said we're not growing at all this year in the eurozone. actually injecting stimulus. so the u.s. does, compared to those three regions, asia, europe, u.s., the u.s. does seem the best. i think a lot of people that i speak with, they're wondering when all of our multinationals begin to take a hit that. >> is the question. >> because asia and europe are slowing. seems like there is time to go. connell: why are we the best or are we in the united states, best place to park your money as opposed to a country dragged down with the rest of them if global growth is the concern? >> we're the most politically stable major country in the world. >> that is saying something. connell: not a bad play. >> there is that. so that is, money goes to the safest place. connell: yeah, it always has, right? i guess that is not changing anytime soon. reserve currency does not hurt i guess. >> certainly does not hurt.

connell: mike, i think you're believer in that theory, we're the best of the bunch but if the global slowdown is real, looks like it is, china doesn't look pretty, i don't know that a trade deal fixes all of that overnight, why doesn't to deirdre's point that affect our multinational companies drag us down a bit. >> it may. connell the big question you have to solve for will the rest of the world drag down the u.s. or is the u.s. strong enough to pick up the rest of the world. connell: is it strong enough. >> my bet on the u.s. figuring it out. if not, they drag us into recession that would be bad for the markets. connell: we have good market all things considered, deirdre, mike. thanks to all three of you. we're up 79 on the dow, despite boeing's issues. we're up 7% on the nasdaq. more on boeing when we continue. ♪

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connell: let's get back to boeing as we get to our number two of "cavuto: coast to coast." connell mcshane in for neil today. bowing down by 7% because of the dow 30, boeing is the only one after a second fatal crash involving a 737 fax chat in just five months. we'll talk about what we know about that first let's focus on the stock market and the new york stock exchange. susan. >> bowling around 237 points. the latest news here from around the world. they have also joined in the grounding of the 737 that they i'll and msm chorister and the rest of the airlines. that includes southwest here in the u.s. american airline. around the world in singapore by dubai come in the region, all

still flying today. the largest customer of these with around 380 of them flying. on order and operating at this point. china has been a really big customer boeing. 250 of these planes on order currently grounding 96 of them not flying today. 11 of these that they i'll in throughout the year is 251 from bowing. of course impacting boeing shares from 7% down as much as 13% and still waiting on the dow dragging by 200 points. just the same as earlier on the

ethiopia crash in a statement that the investigation is in its early stages, but at this point based on the information available we do not have any basis to issue any new guide in. largest customers in the world are taking precautionary measures. not good for the pr. suspending the use of the 737. let's bring in, balian. joins us in the studio here in new york. good to have you on. last hour we talked about the business aspect of this. a large part of the future on this particular plane. a huge caveat before we start a conversation. a lot of what we talk about is going to be speculative. from what you do know, what

you've seen, anything you can tell us. >> i am leading towards the system where the sensors are pertaining to the airspeed indication which pretty much tell you the airplane is climbing or descending that there was some issue there. a mechanical issue. >> for example that malfunctioned, there's a function on the plane and the airplane is stalling, which is actually pushing the airspeed and recover from a potential stall situation. at low altitude the pilot would be struggling to recover from that computer. connell: is very system unique to this playing with past boeing models i should say. >> that's a common future in large airliners. what is unique in this airplane,

the 7378 maxes that the sensors indicate different sensor system than previous models. also the configuration is a little bit different so that can change the weight and balance if their pilots were trying to recover from an in-flight scenario. connell: to be clear, informed speculation you know a lot about these planes. but it doesn't necessarily mean that's what happened. he could be something we don't know. >> yeah, that is true. once these black foxes are analyzed, will have a very clear picture of what actually happened. if in fact these pilots were struggling from a system on the airplane, i think they probably would get some kind of directive possibly grounding the airplane

that there was found there is a serious mechanical difficulty or failure that is jeopardizing human life. connell: how surprising for someone like you does all of this industry for so long. we think now in the modern age of air travel being so safe. especially in this country with american pilots i understand that. we do think of it that way. >> the last major airline crash with the exception of a large airliner in the u.s. with american airlines and i believe i was 2000, 2001 right after september 11th. we've had a stellar safety record. i just want to point out if in fact this is a mechanical error or a failure of some sort, there's thousands of suppliers on these airplanes. you know, not just spelling. you have companies like united technologies honeywell that are making components that around these airplanes.

connell: again, we'll have to just wait. that's part of the problem for investors and everybody looking at this as you just don't know. anyway, good to see you. thanks a lot here in connell: china has nothing to do with the trade talks, but the trade talks to roll-on in the u.s. and china are supposedly inching towards a currency deal as beijing signals that will not be devaluing its currency, the yuan. the latest on now. edward. >> a lot of things intertwined here. the u.s. is now going to germany that it wants all equipment for 5g, the chinese company huawei. it will limit the unintelligent shares that the country. the secretary of state has been traveling the world war and u.s. allies not to let huawei set up their network for fear of spying for that technology. this letter marks the first time it will take action as a result of allowing huawei in. the chinese do this in part is part of the trade maneuvering in their company should be allowed

to grow. on the trade for the u.s. is having teleconference meetings all week with the chinese to see if we can get a final trade deal. we first reported the chinese are moved off of president xi jinping's calendar a trip to mar-a-lago. yesterday white house economic adviser larry kudlow backed up the timetable saying that he's bullish on the trade deal. not giving the trade deal in beijing. they are working day and night to try to reach an agreement. there may be enormous progress on at least one part of a trade deal. china's central bank governor says that both the u.s. and china agree that they should allow the market to determine the exchange rate of currency. the chinese deny they manipulate their currency but this is the first time they are taking a step to talk about letting the markets at the rate. the treasury secretary stephen mnuchin says it needs to be in all of our agreement the u.s. makes going forward. we're also adding it to an agreement with the japanese.

>> edward lawrence, live in washington d.c. let's bring in the ceo at united capital to talk more about this. i don't know how much it affects market or not, but i think one of the more adjusting things said in his report was what he started with on huawei that the united states is going to germany and says don't do with this company. if you do this issues on the intelligence front. they always say the two are related but i've talked to for examples steve forbes a lot about this and he thinks they should be dealing with chinese companies that might be the way to get them to come around on some other reissues. i don't know how you see it. >> i completely agree. as long as they been in industry. but to go to africa into business with where i grew up in zimbabwe and say we'll give you fun, but then you have to take out oil. they negotiate and take advantage. this is a big deal.

what is happening right now, the two biggest trading countries in the world, the two biggest gdp than the world are figuring out how to change the dynamics to make sure we can start the work together. it not going to be easy. the fact that they are basically saying we are not going to apply tariffs until we figure it out is the most important thing because it will continue to be messy. there will be finger-pointing, but as long as the tariffs don't suddenly double, go to 25%, will be in good shape. connell: which may very well be the case, but it will delay if the huawei stuff keeps up. i don't know if going works into it all. but it would delay the deal with a lot of investors kind of assuming in the last few weeks that we get something done late march, maybe early april at the latest. and what if that doesn't happen? >> i think it's probably not going to happen. investors i don't anchor

expecting anything to happen. they want the talks to continue to be civil. and also what is the impact of the time? there's a bunch that is not occurring as long as it does not result. i think what you'll see this as soon as this has announced it will be a much bigger impact than the tax plan that have to make year ago. this is a long-lived serious event that occurs in its great for stock markets. what we want more than anything is let's not go back to the loud rhetoric that is trying to keep us all on the same page. again, it is probably not until may or june it will get something in resolution. it's a big deal with the currency. the ip protection is what is around this whole huawei thing. connell: it's a big deal what you said about the market. we've had guest after guest a good deal or some sort of the deal is pretty much priced into equity market.

the president by the way himself said we'll see a very big spike in markets. i think that was a quote. sounds like you're on his side. a little more and not before we let you go. >> i think using a lot of their price, maybe 30% or 40%. the long-term impact won't be a spike. it will be a cyclical bull market that will extend for quite a lot longer. if it's the right deal. if you protect ip, get more contacts coming both ways it's going to be great for everybody to know the long-term impact fall to the foreign companies. i think it's a big deal and we will have long-term implications of it goes the right way. connell: inc. is a big if. good insight today from joe durand. new details coming out about president trump's budget today. the white house is going to hold a rare white house briefing room briefing at 2:00 p.m. eastern time. so we'll tune in for that and join us at the analysis at 4:00 p.m. eastern today when the

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get started today at customink.com. connell: the new white house budget proposal has been on sale today. democrats heading president trump at this border wall request. another thing that is raising some eyebrows on the left. the budget is calling food stamps and medicaid work requirements. the administration asking for 20 hours a week and a third job, job training or community service program. the former acting cbo director barry edwards, working under bush 43. sometimes the budget and i think we knew this going in not necessarily going anywhere is a

huge program that never really happens, but it does give us a chance to talk about priorities of an administration make us work requirements on welfare reform would be one of the priorities of this administration. let's start without them and talk more broadly. >> you know, with larry summers and dick cheney and several of the democratic presidential candidates basically promising unlimited spending, this was an excellent opportunity for the president to propose a fiscally responsible budget. but priorities yes, what he's done is games, gimmicks and gaps. i mean come you take a look at this and you look in the out years and the dead he is proposing will increase more than the debt that obama had in his eight years in the president was very critical of the former president. but this is in a word, very disappointing. connell: i guess it is your

point that it has been going on for years when someone like dick cheney would say deficits don't matter anymore in our liberal economists like larry summers is actually not. but there is a real police now in washington it's been written about for the last few months that is the new world. would you say to people as they doesn't matter as long as we can finance and pay for these debts and deficits, it doesn't really matter as much as people have been telling you for years that it does. >> we in the budget community is to have something called a reverse robin hood. he robbed from the rich and give to the poor. a reverse robin hood is to rob from the poor to get to the rich. we are sort of doing that here. it is not just rich and poor. it's young and old. adding spending, adding spending, adding debt and who's going to pay for it? we are basically robbing from the young to benefit the rich and the old. i worked for a lot of presidents and balance the budget next year

sure that's common. allen's the next turned yeah, you see that. but we don't have balance next year or the year after that her next term. we have balance and i don't know how many terms after the president is gone. connell: they say 15 years and nobody really believes that is actually the case. >> is just very disappointing. connell: it's almost academic conversation. i'm sure you know bob grady. he makes the point if you're not talking about entitlement reform, then what's the point of all of this because we spent all this time saying they're spending more in the pentagon and not more in these domestic programs, but nobody is talking about slowing down the growth even if these entitlement programs. to bob's point, and to the president in 2020 if anything they talk about spending much, much more on these programs. >> i absolutely agree with bob. that's why there's games, and

kimmitt and gaps. the biggest gap in this proposal is no discussion of entitlement reform. we do have some discussion of fraud waste and abuse. the president has been in office for ever two years now and most of that time he's had republican majorities. all the sudden fraud waste and abuse raises its ugly head. where was that the last two years? it's just disappointing. this was an opportunity to not necessarily balance the budget this year or next, but to put the government on a path into late. instead we've got games, gimmicks and gaps. connell: barry andersen, and under bush 43. thank you for coming on. we have a briefing at the top of the hour after this. see what sara sanders and company have to say for themselves on the budget. the u.s. journalist who was freed from venezuela giving his own account of being detained and whether the maduro era is

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>> how long do you think the maduro government can last? >> while it's hard to tell. he survived intense protest in 2017 but this definitely feels different especially with u.s. sanctions on the oil here. i will be huge and have a huge impact on what he can do in the economy. but i think the transition is probably coming. it is hard to tell, but this is an unprecedented situation there. it's really hard to see how he hangs on for much longer. >> the u.s. journalist who is detained in venezuela. he gave his first interview live over the weekend. david asman hosting on saturday

morning. entering his fifth day with us today. it's great to get them on. >> i was 29 when i started covering not america for the journal. there's so much going on. he's lucky to have gotten out of there as he did because he's got a lot of experiences down on his belt. the bottom line as he was arrested because he did a report on soldiers, the military. not the generals, but the rank-and-file showing 2000000% inflation that they have now in venezuela. connell: i don't even know what that means. >> the rank-and-file soldiers can't make ends meet. the people on the top, the generals have bank accounts in miami, panama, gold, et cetera. the rank-and-file that have to rely on the local pesos are not making ends meet. if somehow this guy juan guaido can manage to rally the

rank-and-file military. connell: to this idea it's hard to see how he hangs on much longer that environment with the lights out. >> the extraordinary thing i know has been said before but when i first started covering modern america, venezuela was one of the richest places in the entire hemisphere. the exact same thing growing up. but even the middle-class -- they had a very strong middle class. but back when i started, they dirty nationalize, taken over the oil company. so it had already been socialized. it takes years and years for that to turn into pure socialization in your crony socialization. what chavez did as a kid got all the experts, all the engineers and put in his cronies. that's when the oil company just fell apart. it's producing one 10th of what it used to.

connell: to get to bear. what is your view on how long it takes to reverse that? >> one thing vanessa newman told me because she's advising juan guaido as if he takes over there going to privatize the oil company. that's going to be extraordinary. it's going to be very difficult to do because it's been socialized the past 30 years. but if they do it, they plan to use the alaskan model and that means you give every single citizen a stake in the company. give them all shares in the company. the profits would be divided on a monthly or perhaps even weekly basis with the people who are the owners. the people who have become the stockholders. it shows you what socialism does is creates a social and economic divide bigger than anything produced by capitalism. that social divide you have 90% of the people who are poor and 10% who are connected with the

government. so that's equality. if you want 90% of the people to be starving and poor, do not switch again. connell: there is where it is. david, latin americans can tell as well as anybody. while you are here, one more topic on domestic politics at the united states. aoc, alexandria ocasio-cortez taking s'more heat for her description of capitalism as an economic system. here she is. >> it means receipt and prioritize profit in the accumulation of money above all else and we seek it out any human and environmental costs. that is what that means. to me the ideology is not sustainable and cannot be redeemed. connell: money above anything else. >> the accumulation of money and power above all else is an exact definition of what is happening in venezuela right now. an exact definition of what is happening in cuba.

that is what socialism or communism becomes peer-to-peer accumulation of money and power without any regard, one of the dirtiest places in the world is the oil company, oil reserves where they are in venezuela and a formerly pristine area. the way they exploit the oil they have been such rich reserves is the dirtiest way on the planet. in russia if you want filth, have the government take over. they have no care for the environment whatsoever. not to mention care for any kind of equal division of the wealth that is created by what the government has. it all goes to the top 10% or maybe even 5% and the rest of the country is poor. there is no middle class. connell:.messaging.zero and 2020. >> bring it on. >> they seem to want this

argument. >> certainly ocasio-cortez. i don't think joe biden wants to get behind now. good to see you. great stuff on this topic. america kicking off the year 2019 with what the experts are calling the retail apocalypse. the brands that have been hit the hardest by that fresh off a new retail sales data when we come back. it's screening technology that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today.

connell: so have mixed signals if you look at the numbers. retail sales rebounded in the month of january. 5000 stores are closing across the country this year. we had the ceo and fairfax global market today. mark avalon join us and ceo in the other thing to start with you but if you look at the retail sales numbers come in january bounce back but we have confirmation today that december

was a disaster. which of those is more important? >> moving forward in 2019 sort of where we are headed in the retailers we talked to are confident about what 2019 will be. they have a pretty solid outlook. obviously there is some had when on the policy for a bit like to see resolved in order to give them a real boost of confidence and optimism. what really matters is going forward. it looks like we'll have another good year. connell: will put that in the rearview mirror for now. a lot of people came out and said it doesn't look right. december really was tough. that means we had a test and to the year. do you agree with what karen is an outlet for the rest of 2019 for the consumer is pretty positive, would you think? >> i do, but let me tell you those retail numbers are really suspect. they came in lower than dead.

they even lower to further and then you look at corporate earnings for the can number discretionary retail sector. it was up almost 15%. way above the rest of the economy. also 79% of these companies actually exceeded their earnings estimate. >> the polls right on its numbers i'm sure. some companies individually are mentioned in a number of stores closing down which may speak more to winners and losers in the environment but the macro factors in the economy. what's your take? >> there is a lot of management execution issues and there's also a huge capital expense that retailers need to make to keep up with their clicks and bricks strategy are to compete with wal-mart and amazon and that is what the shakeout is. we've seen the shakeout across the board.

discounters like payless, gymboree and retailers like macy's. so there's nowhere to hide. the overhead associated with bricks and mortar real estate is incredible compared to how lane online retailer can operate in if they don't execute better we will see more of the same going forward. >> you mentioned at the start of the discussion would like to see more clarity in terms of policy. i assume in part you're referring to trade their period is bad or is there more to it in terms of companies holding back on commitments to make him a spending because they just don't know the type of environment they're operating in. >> trade obviously is a big issue in terms of the impact and they would like to see clarity. obviously it to tariffs lifted them in terms of china, some resolution to that and a good deal moving forward in terms of market access, intellectual

property. but also that will set the stage for getting that result will set the stage for hopefully a passage on u.s. mca because that's a big lift as well. there's a lot of trade across borders with mexico and canada. that is another big piece again that will provide some certainty and clarity of her the retail community and then trade agreements moving forward to open more global markets. connell: we've been doing pretty well when you consider that it's something hanging over us for quite a while. i know there's been some debate but the studies the last few weeks to show the american consumer has been taken a hit. some say the chinese companies are absorbing. it may not be to the point where someone predicted in terms of armageddon as a disaster. it's starting to hit us and if it continues that would only be a bigger and bigger issue.

>> i think it is and i think it will be resolved. almost everyone i talked to in the trade area and who are working on this trade agreement exists will be over within the next few months. certainly by the end of june. i think the big issue is we've got full employment or near full employment. we've got wage gains of 3.4% and among people at the lower end of that it's even much higher. so what are they going to do? are they going to say that money and invest? i don't think so. i'd love to see that. they are going to spend it. retail sales are going to be good through the end of this year. >> and then what i guess is the question after that? >> of? >> if we hear that argument i agree. if you have strong wage growth and low unemployment and modest gas prices to get to the stores and stores are closing, there is something structurally wrong with the retail delivery model

and the retailers will need to be very forward thinking very quickly because the story has been going on for years and it's going to continue. i know you can repurpose these properties but that takes years and it's hard to replace all the square footage u.k. for miniseries or polls. connell: paul, let me go back to you. what do you think of that the real estate investments we look at our something that could be kind of a casualty or something we can look at here is mark is right and structurally we have an issue in retail. >> there's no question about it. rex and mortars especially in their death throes. we are seeing a capitulation right now. they are going to have to repurpose all these buildings. it's going to be difficult. it would be a factor in not investing in at the moment simply because of that.

go ahead. he wanted to make one more point. >> if you want to repurpose real estate and you're at a vibrant new code, where ibm and about when and about what nbc that's fine. try repurpose and a shopping mall 30, 40 miles out or the economy is a totally different story. connell: would happen out there? >> there's no one going in those places. amazon might say if they can repurpose it for a warehouse. maybe some creative office space. but the retail they're just can't survive. connell: would you make of that in terms of the businesses you talk to what the longer-term concern? >> it is. the fact of the matter is you have small innovative retailers that are driving all of this to begin with. the personalization, specialization, authentic engagement, differentiated technical fulfillment. leading customers where they are. this is the reality of the marketplace right now and the

customers are king. i'm a little bit more optimistic perhaps in terms of repurpose same because i always think that entrepreneurs will find a solution or be innovative with those bases. but definitely there is destruction going on and it's going to impact those real places. connell: thank you to all three of you. good discussion all this. we are up 155 and the dow right now. the market look strong today driven in large part by the technology stocks. targeting the technology companies. what this could mean for silicon valley when it comes to fundraising. that next. you.

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>> the monopolist will make fewer monopoly profit. boo-hoo. we want to keep that marketplace competitive. not with a giant who has an incredible information advantage and manipulative it damage be able to snuff you out. my view is break those things apart and will have a much more competitive robust market in america. >> you trust these tech companies?

>> no, i don't. i like that they are incredibly successful for america. but i don't like a state trust us for so long and we did it. connell: the 2020 democrats campaign up the rhetoric when it comes to big tax. real clear politics associate editor katie stoddard joining us now. it is funny because they obviously rely on silicon valley to raise a lot of money and not only elizabeth warren, but in a club, but amy klobuchar another's going after these companies. does that affect their fundraising? >> elizabeth warren will not be raising money from the big five tech giants. train to stand out in the field where polling is very weak with the bold idea and we will see whether that takes up at the grassroots of the democratic party among the liberal activist dave shue seeking to energize. i know this is a bipartisan issue. there are concerns on the republican side as well. some discussion of antitrust

issues when bill barr was making its way to the confirmation process committee attorney general and he was asked about it from senator mike lee and senator josh holly of missouri. they are concerned about the monopolization of the marketplace by these companies. congress doesn't seem to know exactly what to do about it. i don't think elizabeth warren will be a nominee. it is her way of standing out in a huge field when she's not that popular so far. we will see if it helps her. connell: some issues as you know are ones that you get even bipartisan agreement on like maybe this is one of them and people say something needs to be done about this. those aren't always the same issues that resonate with voters and drive people to care about which candidate they vote for her drive them to the polls. keep its offense going after big tech of that type of an issue. >> you see the candidates in

this very big field trying to differentiate from each other. elizabeth warren is not so electrifying. bernie sanders is kind of in her space where she took his space, but polling much better than she is. we'll see if this is something she thinks will galvanize the left wing of the party. early polling out of iowa, the primary electorate is really looking for is sort of bread-and-butter democratic issues these days. taxation, climate change, and beating president trump and health care. that helps someone like joe biden. it doesn't help them on elizabeth warren is talking about the power of the banks, the power of monopolies and what it does. she might be speaking to some energized grassroots part of the primary electorate, but i don't think obviously this is an issue

that's rocketed for voters in the general electorate. >> some of these issues because i remember all those commercials in the midterms in one of the reasons those moderate democrats won in certain states was because it almost lays into the story today of the dnc taking wisconsin, to host their convention. now they finally go to wisconsin. maybe hillary clinton should have gone there the last time around. it does show they are paying attention for better or worse finally. >> no question. the democrats to do this sort of winn-dixie will of the 2810 midterm election was that they really solidified these wins in wisconsin, michigan and pennsylvania, states that gave president a slim margin the presidency two years ago. the fact that they had these

non-competitive senate races. they were victorious in gubernatorial races makes that their primary focus in 202270 electoral votes and that is why you see i'm not the price they paid to make sure their energized the electorate in using convention so close to the general election as the place. connell: av, good to see you. in case you're wondering why we show multiple angles. we are awaiting the white house briefing. we don't get these anymore. in the brady briefing room. at the top of the hour sarah sanders as well as the lmb direct your set to brief reporters on the budget. that and more when we come back.

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connell: is new york city facing a potential bankruptcy? some financial experts warning new york could go bankrupt if a recession hits.

new york city councilmen minority whip joe borelli is here with us in the studio. good see you, joe. >> thank you. connell: "new york post," new york city is careening close to all-out financial bankruptcy, first time since bean was mayor 40 years ago s that true? >> that article acknowledges a what a lot of people acknowledged for a long time. there is spending on one hand and onerous state regulatory and tax burden on businesses. while spending continuing to climb, you have the state of the new york doing pretty much everything it can to kick business out of the state and the region. connell: amazon was a fiasco, right? >> in most parochial sense we're losing a lot of revenue from not having amazon here. they are a symptom of the problem and not necessarily the cause. thousands of companies do every year not what amazon did, not within the form after contest, within their own boardrooms. they look whether the state they

can go into whether they're competitive and succeed. they find time after time, new york is not the place where they can go. businesses want carrot-and-stick approach and they cannot offer that. connell: i don't know how the overall numbers stacking up yet, will take time to compile it, where people are leaving the state, particularly high net individuals, sometimes texas but often florida comes up. what are you hearing about your own position? what is the city government doing about that if anything? are they talking about it? >> they are not doing anything about it. that is part of the problem. people like mayor de blasio further millionaires tax. that is something governor cuomo pushed back on. the problem new york city is the league leader in state and local tax burden. we're shedding our population in addition to the corporations. there is no solution other than to rein in spending. connell: long term debt, $81,000

per household? >> per household that we continue to issue long-term debt. you will see, even know moody's upgraded our bond rating recently. what we look for the downgrading for the bonds will lead to financial collapse as we try to improve the infrastructure. connell: what is the time frame on this issue. it is not tomorrow i'm sure but what is the big story. >> generally 20 year reinvestment of money. when you look at priorities, rather than liabilities of our employees. you talk about generationally liabilities at that we have to pay that is the time frame we're looking at. if we don't make changes now. we'll not face the problem in the future. connell: joe, good to see you. always, joe borelli. get to you quickly before we go to charles and the markets, we talked about boeing, the dow is still up, even with all the issues by 159 points. if you take boeing out of the equation, the dow could easily be up 350 points thereabouts.

that is the type of day. we'll cover it all, come back at 4:00 p.m. eastern with melissa francis on "after the bell." we'll see how it closes out. it's a strong day on wall street minus boeing. to take you through the white house briefing, next hour, charles payne. charles: it has been a monster session. i'm charles payne. this is "making money." we're moments away from the white house briefing as president trump swings for the fences, asking congress for nearly $9 billion for a signature border wall. major welfare overhaul in bloated government agencies would cover the cost. make no mistake, the stage is set for another battle with congress. tragedy in ethiopia sending boeing shares tumbling after the crash of a boeing 373 max 8, the second deadly crash since october. the market looking extremely vulnerable coming into the week. we had