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tv   Bulls Bears  FOX Business  March 20, 2019 5:00pm-6:00pm EDT

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journal" issuing that subpoena to one of the employeesism bulls and bears starts right now. david: president trump back in the buckeye state, he won ohio in last major election, he is landing in canton, a few minutes he will meet with after addressing workers this afternoon. earlier, we're live in ohio with latest, and we'll bring that to you, this is bulls and bears, thank you for joining us, i am david asman, joining me in panel caroll roth, kevin kelly, scott martin. scott howe. slamming general motors and union leaders over the closur te
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of another plant. jeff gloc flock is here now. reporter: what a. -- he said, islamic state caliphate in syria will be gone by tonight. saying he gave him the funeral he wanted but never got a thank you. and asserted a uaw leader who criticized him on national tv last week was kissing and hugging him here today, no video that of kissing or hugging. perhaps president said it best. >> what is going on with general motors, we have the best economy we've had, the lowest unemployment we had in 51 years,
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soon will be record all-time. and what is going on with general motors? get that plant open or sell it to somebody, they will open it, everyone wants it. get it going now and the uaw will help you. you will help. just promised they will help. get it opened now. don't wait. reporter: president not saying what the uawtold him, he tweeted that last week that mary barra blamed the uaw for closing of that plant. she denied that. on subject of uaw leadership about kissing and hugging i will let you hear that yourself. >> how good it was for this, that they said thank you, sir, thank you. this is unbelievable. thank you, sir. then i see one of the guys next day on the television show. the i think de"face the nation."
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and ladies and gentlemen, de"face the nation," he says, how -- he a democrat. and he wants democrat policies, which were putting of i everyone in the poor house, i left him, he was hugging me, kissing me, telling me it was unbelievable nobody el could do it next day he was the on there talking about stuff, i want to deal with people in union note the heads of the -- not the heads of the union, the heads of the union are not honest people. they are not honest. they are not honest, and a ought to lower your dues by the way, you pay too much dues. reporter: you heard, president rare form, to a number of topics, and listen to that.
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abrams tanks, really, what president has done to restore the plant. back to a thousand workers, turned out dollar 34 tanks a da. a little bit of everything. david: what a show, jeff flock thank you, you heard president slamming union leaders. putting pressure on gm or any company. comes to their business. what do you think? >> risky play. could if it works. this is going to be a major political gain for the president. ohio, a very big battle group state, we have seen. so he needs to gain political lateral. negotiations going. that may be both sides have, not
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doing this say, august, september, october, maybe bringing other ideas to table, a risk worst a chance to take because of fact that people there will be so great full, via votes come 2020, therefore happening take ohio, take the country. >> scott, scott, scott, what about the small government principles, we can't change our principles because we like the person in the white house. we don't want the government picking the winners and losers. it didn't work with auto bailout, and we don't want it now. the reason where plant is closing because consumers -- change and preferences are change. cars that were being produced there are not popular any more, we can't have government in middle of it. >> how is he picking losers. >> because, the american consumer does not want the cars that are being turned out in that factory, no one wants to run down the street in chevy
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cruz, we want cross over vehicles and suvs, problem we have, it is a slippery slope, we start, you know forcing jobs down company'ses throws and bailing out farmers and doing this and that. there is no end in sight, this is a game of political hot poe pay the tateo -- potato, he is too far in front of this. why is he focused on this. >> let me take a shot at answering the president's question, what is going on with gm, they are turning a 9 billion dollar profit this year, government runs a trillion dollar deficit. on subject. gm is healthiest financially they have been in decades, but since president-elect light vehicle sales in america are down, a million units a year, that not the president's fault.
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it was peeking market it has come down a little bit but this is where the orders are. >> amen. president should not do this, but the president is the president, he will continue to beat that drum if he had his tweet before the top of the hour, i will read to you, he said great news from forth. they are invest -- ford, they are investing one million in flat rock, michigan for auto productstiono top of a billion dollar investment last month for a facility outside of chicago, companies are pouring back to the united states, they want to be where the action is, his rhetoric will not stop. david: what else does this tell you that michigan and ohio, historically been blue states, democrat states that turned as a result of this president, reaching out to the working class like the g.o.p. never has since ronald reagan. that is what this is about.
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this really is -- spot you saidt you said too early for the elect, this is the election we're in the election mode, we is thinking of keeping those formerly blue states red. >> kevin said that, he was wrong. >> ohio is my homeland too. no republican party won white house without carrying ohio. i am not seeing this makes economic sensor sense, it is ae that makes sense for this president, if it works out and he keeps job, folks will remember that when they head to poll in 2020, think was this president that saved my job or one that actually allowed this company, whatever company it was, gm or anyone else, where i grew up other companies left, that people got mad about they will remember if you save for job. david: scott, i did mean kevin
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you are right. >> were the jobs to be saved already through usmca . how complex and convoluted supply chain was and he was bringing the jobs back from mexico, this plant should not be shuts down based to that previous promise. this goes to chevy cruze, i know my man jack here, mini man mega-athon. >> in ohio, have been giving others e for retirement. gm has room to work there. given a choice, in terms of inappropriate, president to do this, i don't think so, if president wants to go out and badger company chiefs to create more jobs great, i would rather have him do that than john mccain stuff any day. have at it.
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david: just for record usmcarc has not been approved by congress yet. if you think about obama administration, you had a car czar, deals made, some teals thadealsthat didn't benefit amen workers. it was all sorts of stuff that went on that a lot more than just jawboning of now about yes, that is a challenge at the end was day you can bully a company to making a decision short-term, but long term, that will be best result for company and consumers and employees, that is what is going to win out. you can go and talk about it, win political points, from a principle stand point that is not something that should be done am gm needs to do what is best for their business. >> i don't want to leave a that there is a sob story going on in
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america. it is a success story. david: market like hear that federal reserve will not raise rates any time this year, what does this mean for the economy, we'll debate that coming next. all money managers might seem the same,
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comcast business. beyond fast. david: breaking news, boeing has been in headlines quite a bit after the plane crashes that hurt it substantially, but now good news they have been awarded a 4 billion dollar defense contract. we'll give you details to come. >> despite dow ending day in
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red, market took a swift reversal in positive territory today after federal reserve kevin ratekeptkept interest rate level and announced they most heblikely won't raise rates at l for the year. what does it say 'the health of the economy. >> i don't think that is good for the economy, you see 10-year treasury yield get in 2.5% range that shows that economic growth is not taking hold to what this administration it saying, that is worrisome to me, everything is trading in tandem. correlations are at one because the fed is artificially manipulating risk. the fed should have never been in here, they are now only game in town, they are dictating where the market goes. >> not a great sign for the
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economy but not a terrible sign for the economy. this is a wait-and-see. i think that stocks go higher, biggest risk to stock market was not a economic slowdown, it was -- competition. 3% rate saving in your account, you will not see that any more. >> i think this is a pretty stunning ultra dovish report from the fed, i was taken aback by it. i don't think it is such a great idea. rwe're not at 3% growth, i think that we'll be better than perhaps what fed projects, at end was day, we'll not have a lot of dry powder, they are pointing themselves into a corner. >> jack, you can take me to your bank, i am still in savings accounts, i was not getting
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anything more than crumbs. to use a word that nancy pelosi likes, peanuts. kevin is right. interests tell the story, that is what has been going on this whole year, we're getting back to this big economic growth phase. and outlook depending on who you count on whether the banks or analyst or white house report, about the economy, that looks decent, 2 1/2 3% growth, job numbers very good, yet, the 10-year treasury rate and other interest rates have been plummeting amongst this big equity rally that is worrisome. from stand point of fact something is going under the surface that is likely to come to fruition as maybe fed steps away further. >> i am glad you brought upward worrisome word. going back to when janet yellen
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was chair person, she was worried about acid inflation, and fed props up stocks more, could we get to elevated valuations they trade 18 to 20 times earnings when the economy is growing slower, that leads to socialisistic left. where they say rich are getting richer. that will be a problem. david: -- without using fancy phrase, what seems to be happening, correct me, but the world economy sucks right now, the world economy is bad. we are the best game in town. we -- yes we're not growing at robust rate we should be, but we're growing more than we used to and more than the rest of the world is. and that is -- by the ka the cet says they are losing confidence for a third quarter in a row, they still think this is the best game, a strong economy,
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they would rather be here than anywhere else, that say positive, what the rest of the world sucks as bad as it does it is hard to do much. >> david, challenge is that in the short-term that work well for the u.s. economy, long-term, what is going on overseas up directly comes back around. >> i don't think it is a good thing, it is not a good thing that world doing badly it is bad for us. >> but indirectly it will come back, in short-term, being only came in town is good but with china and europe struggles indirect lethal cam -- indirectly, that will come back. >> global central banks are coming in stimulate. >> one second for breaking. >> president trump has just arrived at akron canton airport
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in ohio, making his wha way to a round table with supporter in canton, if he has anything to say right now as he steps off, sometimes microphones are close enough to hear, that sounds to be far from where he is right now, if he talks, we'll go back to the president in ohio. immediately. >> former vice president joe biden, could reportedly be announcing his 2020 bid for presidency soon, can he hit the ground running and stay there in the far left field of democrats? more on that to come. >> by new left, have the most progressive record of anyone running -- of anyone who would run.
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david: former vice president biden reportedly telling supporters he is planning to run
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for president in 2020, ask asking his major donors to start lining up contributions accords to "wall street journal." a new national poll showing biden tied with bernie sanders for top spot among primary voters. will biden be able to satisfy democrats moved to the left. >> i'm not in habit of giving democrats on how to win, if i was, i would say don't move to the left, have you enough far left cooks tha kooks that are indestinguishable from each other. there is still a moderate centrist part to this party that would hik like someone with ides that are not insane. >> i think that makes sense, if you think about it, i worry, i guess worry is a strong word. i laugh at fact that i think that democrats look more and
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more removed from reality, they attack the current economy, they attack business climate and tell folks that corporate america does not care about them, wages on rise, 401(k) balances high, so many things go on. they come out say we need to change everything and revamp government, and wipe out everything that has been done that makes them hoo look crazy. >> it is crazy he is the most established person in their party ready to run. he has quality and experience, and knows you to to work across the aisle. why would he pivot, he is the least progressive. why would he say he is the most that just looks disingenuous and then no one would trust him.
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>> joe biden is a really good addition to the field, is this really the dream team? i am not wowed. i think that average american voter is risk averse, they go to this election, they say, i have a job, thank god for, that i would be stuck without this job, that is what i have with a trump presidency, what do i have with the other choice? this is a starting point that is tough on overcome. david: he just said, made that supposed flub. i think that was less of a flub than him announcing he would be run. i am the most progressive candidate. i know it ridiculous comparing him to bernie sanders, there is no way. but then remember he said something nice about vice president pence, and he no to walk that back -- he had to walk that back he was criticized by the progressives. i think from now to nomination
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he is going to try to run to the left. >> i hope he does not run far and fast, i get worried if he says i'm most progressive, then what would he drop on us as far as ridiculous les nessness thate heard, it can't get worse, can it. it. >> the flew plan new plans. you talk about a reality that the democrats are laying down that does not have the luster that it once did when the plans first came out, you see costs of plans and implementation costly, the economy, and jobs going forward, now truth in the data point, they just are not coming to fruition, and they scare america. >> and this is a numbers game, we could have 20 different people who are running on the dem side, that means somebody who gets 20 something% of the vote actually could be the candidate.
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you need that point of differencdifferentiation. with all crazy things that scott mentioned and getting rid of electoral college, there are much things that if joe biden can stay away he could get shelter from that fallout. >> joe biden has greatest asset, that is attached to barack obama. right? a really likeable president, everyone from hollywood who will try to katee cater and donate te should say if you want more of whabarack gave you, vote for me. everyone to the left really liked him. >> there is baggage with that. remember when he -- went out whole summer he was touting the spending plan, that president obama had that was supposed to produce these jobs, that it did not produce, we ul have 500,000 job protrou deuced every month -
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produced every month as a result of stimulus, but president obama was likeable but not everyone he was associated in, will help. >> i agree. he has -- i think too, looking back to 2016, they put forth hillary, not joe look at what happened, they got beat, the party is not happy about, he did not run, he did dillydally around that for a while, democrat lost, and now they are behind the 8 ball again because trump has taken off with the economy and jobs. >> not just democrats now that support a federal gas tax hike, it could get bipartisan support. but is it the right fix for the nation's crumbling roads and highways? grover norquist sounding off on that next. visit thousands of companies,
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david: a hike to federal gas taxing be changing momentum. saying we need to raise federal tax from a dpal o gallon of gasm 18.4 cent to 43 cents over next 5 years, bringing in americans for tax reform president, grover norquist, is that really the solution? >> not the solution. also not news, chamber of commerce has been lobbying for gas tax increase for decade, largely unsuccessfully. there are some interesting ideas, you davis-bacon act, if you build a road or bridge, it costs 25% more than it needs to because they have the prevailing wage provisions, many states have gotten rid of their state
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versions of that, if you want 25% more roads get rid of davis-bacon. >> and about 20% of all money raised promising you new roads and bridges get siphoned off to light rails and other things that go on few cities and don't often carry many passengers, gas taxes should only be for roads and bridges. there is a lot of money there, but it is not spent well. add to that, one thing they could do is being put forward by a left-right coalition. by black caucus and freedom caucus members take the loans, a hundred billion, sell those, and take that offer that as federal support for state and local roads. does not raise taxes.
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and has bipartisan left, right support. >> grover is this the worst thing that republicans could be doing going into the presidential election, this is a progressive tax. david: regress. >> regressism doesn't it hurt the poor the most, the corporate fat cats got tax cut and now you pay more for gas. >> elizabeth warren just came out against the gas tax because it was regressive, they had one under bill clinton they proceeded to lose house and senate, state by state. they put a legislature to raise taxes voted down in blue massachusetts. there was a energy tax on the ballot in washington state, twice that got voted down.
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arkansas voted down, 80-20, how many times do people have to tell you, they don't believe for a minute, you will actually ice it for roads, and they don't want their taxes raised, this is political sou stupidity of hight and suicidal level. >> a tough label. people who like this, might say, we're headed for trillion dollar deficits, we really need to think about paying bills. if you do something like this, we have you know we have come down on the you know what we're asking much of carmakers in terms of gas mileage. what would you say? >> first, government told us we had to limit how much gasoline we use because we're running out of gasoline. that was scion, they lied for decade, they were wrong, science
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proves that fracking works. we have more energy today, why are we sticking people with cafe standard rules to solve a problem we know was a lie at the beginning and is a lie no, the government ought to back off, get out of the way, let people buy the cars they business trucks they want and not falsely inflate the cost of roads with davis-bacon laws from 1930s, which siphoned off money for new york city metro, people in texas and kansas to pay for, this is ridiculous. there is a lot of savings, we don't need more taxes, we don't need more money available, we just need it spent wisely. >> i am wondering in terms of roads and bridges, how much of that it intrastates for interstate. >> you are correct.
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the solution to this, is to get rid of federal gasoline tax, let it out to state, with possible ex sense shiexecex -- exceptions between states, and massachusetts, can do the massachusetts roads, and new hampshire can do the new hampshire roads. the cross subsidies are very problematic, because, you drain money from one state, give it to another state depending on how powerful they are, let the states fix their own roads, we built the forward highway system that has -- the federal highway system it has been done. at end was day there would be a lot less corruption in washington if they were not handing out earmarks in roads on texas was building roads in texas. >> this is scott in illinois. right behind my, we're paying 37
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cents a gallon in taxes, in chicago. if you have federal gas tax more of them who what we pay. what is that going to do to local economy that are already struggling under mountains of debt people are leaving because our taxes are already high and business climate stinks. >> states like illinois and california, as long as they can blame washington for their failures, they will over in reform. much better to let the states raise their own gas taxes. build their own roads, and get washington out of this because washington just take its says we'll take 20% for subways or light rail or something that does not really move to too many people down the road that takes up space that could be used for road, take federal government out, let state pay for their own road, then, voter can decide, whether they like local politicians, looting the gas tax
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anspending it on nonroads. david: then states will have to pay a price, you mentioned 20% diversion if federal tax revenue, 20% goes to nonhighway purposes, in states like maryland, connecticut, new jersey, over 60% of the federal -- money that comes in, goes to stuff that has nothing to to with highways. >> reason they call it infrastructure, is that infrastructure is a french word that means not words, if they were going to build roads they would say roads, but they don they say infrastructure. david: good point, grover norquist thank you so much. >> good to be with you. david: coming up, europe slapping google with its third billion dollar antitrust fight, are regulators overseas just getting greedy now? more on that to come. ♪ limu emu & doug
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willy davis, who has alzheimer's. i decided to make shirts for the walk with custom ink. the shirts were so easy to design on the site. the custom ink team was super helpful and they just came out perfect. seeing my family wearing my shirts was such an amazing reminder of all the love and support that everyone has for my dad. - [narrator] check out our huge selection of custom t-shirts and more, for teams, businesses, and every occasion. you'll even get free shipping. get started today at customink.com. david: european union, slapping google with a big antitrust fine, for limiting how some web sites could display ads that are sold by its rival, this is the first antitrust penalty for google since 2017, it is legit or a cash grab by the eu.
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>> a little bit graby, how do you do 1.7 billion math, you divide what carry a two. so we're up to about 9 billion in fees, this is a company that will generate probably 30 billion dollars in free cash this year, that figure might more than double over next 4 years, they could afford it, but, this is not last of it. they will keep getting pickpocketted in europe. >> right. this is a pour grab -- power grab, a cash grab, i think unfortunately for the big tech companies this will be the cost of business going forward, a nonreoccurring item that market accepts, a cash hit but not core to their business. as we have seen from the stock i am a stock holder, it makes me happy they perform well. the market usually slugs them
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off -- shrugs them off. i think that the ei an euand otr jurisdictions will get their hand in the pocket. >> caroll, google did the wrong thing. and so did facebook, they took people's data and sold it, without disclosing it, here is the funny thing, if you look back to ftc, biggest find they levied on google 6 years -- 22 million, now a rumor find to facebook any week of say about 5 billion, now they get sharp teeth, jack is stop even if what is scary they stop stealing our data and reselling it, they will get fined more. >> i'll let you end on jack being right, but he is wrong on
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the eu saying they are a little bit graby. if you look at last highlight that came up, they were fined are about blocking rival ad on their system, are we joking? whole point of having regulator is making sure people abide by the rules and play fairly. if we had an ad company and google was blocking us from advertising on their system, we would be upset, i would be applauding regulators for slapping a fine on them, this wraps up a decade long look into their practices that are antiwhicanticompetitive, i havea problem people saying this great all about google, everyone is graby, no, this is wrong, the rule -- regulators overseas and here need to update the rules of engagement. the tech companies are well in
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front, they can afford every lawyer, they can delay and delay. >> kevin. >> i want to put that argument on youtube but google would make money from it. >> or take it down. >> right, probably take it down. >> then they won't display the ad. >> my only you know i don't know where figure comes from, the companies google, facebook, i'm not sure we can show they are not companies that trend toward monopoly power, right? is there not bound to be one dominant search company or social network, doesn't everyone want to be in same place. >> they dominate advertising and ever facet in every vertical, that is the problem, like you can dominate search but why do you have to dominate ads and this, then can be ant anticompetitive. >> this is something they changed practice on, then they came back and decided what fine
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was, i find it is arbitrary, but remind consumers in a do have opportunity to vote with their dollars, just as ea easy to go g or duck-duck go as it is to go to google, this is outcome of what consumer like. david: i'm amazed surprised at you, you stand up for european regulator, this woman she is like the re regulator in chief. margaret she impresses fines willy-nilly, there is a video of her. you don't think this is just a money grab on her part? and by the way, another word for money grab is a bribe. if you want to stay in business, you got to pay up. >> she is getting job done. and listen that is more than i can say about regulator here, guess what is happened, facebook
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has skirted tons of schedules and regulation -- tons of rules and regulations, whether this applies to advertising on their platforms. against fair housing act, they are skirting tons of rules and regulations, i have not seen them really have -- no regulator has come down hard on them, you talk about bribes they want campaign money, nancy pelosi is not coming hard on the tech executives because they are donating to her campaign. >> "wall street journal" did a piece a while go about how much money that this money has imposed in fines, tens of billion, she brought a lot of money into the eu, he is doing her job well, have a very spirits debate. >> apple making updates to one of the most popular products in market now. what that could mean for future of the company. if you have an apple product, you want to stay tuned for this.
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david: apple's popular air pods just got an upgrade. as apple continues tour push for wearables, can the company survive with products like this as they move away from the iphone? >> they have to. a lot of competitors have caught up with the iphone. the biggest growth areas are in services. the problem i have with apple, siri and i have this great relationship for five plus years. but she still can't understand me. i talk to techs, make siri better and you have got clients
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like me. >> iphone still accounts for 2/3 of their revenues, so they need a big win. they are trying to do their own apple tv situation. we were talking about a car a long time ago. >> sire was never programmed to be. i am a proud air pod owner. maybe mildly a shamed one. these things have good margins. they both have margins above the iphone. but there is no replacement for that iphone business. it's huge. >> unless they do some sort of m & a and buy something different, i think services is the story. even though it's been growing quickly. they have such a tremendous
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opportunities. to put their own services and third party services and bring that into their ecosystem and take a cut of that, i think that's where the future is. president trump: we are restoring american manufacturing and fighting for our great american worker. over the last two years we secured $1.5 trillion to provide our war fighters the finest aircraft, ships, missiles and tanks. our investment if you is also a tremendous win for american taxpayers. i'm proud to report that 400 new jobs are coming here to lima. and we are doubling the size of your workforce. liz: president trump on the move in ohio this

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