tv Bulls Bears FOX Business April 1, 2019 5:00pm-6:00pm EDT
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yeah, i caught the same smell at blockbuster. we should do a show from there one day. melissa: i had a blockbuster card forever. connell: how did it smell? thank you so much for joining us today and every day. melissa: that does it for us. "bulls & bears" starts right now. david: three big events happening this hour at the white house. the president is set to deliver remarks at a summit on prison reform. we will bring you any news from there, especially if he says anything about closing our southern border. over in california, attorney michael avenatti is back in court facing another round of federal charges, this time in california over bank fraud and stealing from clients. more on that straight ahead. and the british parliament holding another round of crucial votes on how and when to leave the eu. the results are expected at any moment. we will bring them to you in a very busy hour. welcome to "bulls & bears." thanks for joining us. i'm david asman. joining me today, liz peek, jack
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hough, michael block and gary kaltbaum. to the first story. new developments on the trump border battle. sources telling fox news president trump is serious about closing the border with mexico, and it could happen as early as this week. the administration coming to the defense of the president's plan. >> what would it take for him not to do that this week? >> something dramatic. we hate to say we told you so, but we told you so. we need border security and we are going to do the best we can with what we have. david: even obama-era homeland security chief jeh johnson told charles payne today there is a crisis. >> by any measure, 4,000 apprehensions on our southern border in one day, 100,000 in a month, is a crisis. it's a crisis in that it overwhelms our border security personnel to deal with that volume of people coming in and it's a crisis in these communities on the border that have to absorb these populations. david: but warnings about the
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dire economic impact of closing the border are growing. the chamber of commerce even opposing the merv ove saying clg the u.s./nemexico border would inflict harm on workers, farmers and manufactures across the u.s. let's bring in director of strategic communications for trump 2020, marc lotter. great to see you. is closing the border necessary? >> when you look at the humanitarian crisis and the national security crisis we have going on at our southern border, it could be possible. what we -- we have to remember most of these migrants, most of the caravans are coming from central america. they are illegally trespassing in mexico to get to the united states. i think the president is sending a very strong message that we need our friends and partners to our south to do more, to stop these caravans from first violating their borders only to then come and violate our border. >> marc, it's liz peek.
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it seems to me yes, this is a humanitarian crisis. i think the entire country is now pretty alert about this. but it's also a political crisis in a sense. i think closing the border would be a disaster economically. everybody says that. is there some other way that president trump can become the problem solver in this equation? we all know congress will not be the problem solver. is there not any other approach that he can take? >> i think the administration right now is working with mexico, it's working to try to see what we can do to help them stop this -- stop the latest caravan, stop the flow of migrants from entering their country but definitely stopping them and sending them back before they get to our borders. i think what you see here is the president showing how serious he is that we need mexico's support. we need mexico to step up their game in doing this but at the end of the day, the president's number one priority has to be the national security.
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it has to be stopping the flow of immigrants, stopping the human trafficking, the drug trafficking, the gang activity, all of those things that are a problem at our southern border, and if he has to shut the whole thing down to do it, that tells you how serious it is. >> it certainly sounded like his number one priority on the campaign trail. i'm wondering why is it that two years into the trump presidency, more than two years, we are still talking about a crisis at the border. i wonder if you would agree that some of these talking points, some of the rhetoric the president used on the campaign trail when you are talking about mexicans as rapists, sparing no opportunity to talk about ms-13 and trying to paint every hispanic coming across the border like that, that has stopped him from coming the a deal with democrats, has it not? >> well, i don't think democrats have shown any interest regardless of the president's rhetoric. congress has not been acting on this for decades. i can go back and talk -- we can talk about president obama in 2014 calling it a national crisis. i remember president george w. bush talking about the need to change our immigration laws. congress has shown no
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willingness to do it over multiple administrations, over multiple parties being in the white house. so it's a failure of the legislative branch compounded by bad laws that were passed by democrats and then backed up by liberal justices who are really putting our national security in harm's way right now. >> marc, this is gary kaltbaum. first off, i agree with everything you're saying. the fact of the matter is even the media's been saying there's now a humanitarian crisis, but 500,000 people cross the border every day legally just in texas. over $1.5 billion per day in trade at the border. you shut it down, you shut down parts of the economy, auto parts coming around stops plants from doing things. the effects of that would be pretty huge on a daily basis. please tell -- i don't know if
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you can answer this. do we have a bluff on our hands or is he really serious about doing something like this? >> no. i think the president is absolutely serious if it comes to that. he's sending the message to mexico we need you to do more. to the companies here in the united states, to the farmers, the ranchers, the people who would be negatively affected, they need to reach out, call their congresspeople, their united states senators, and say get something done, change the law. they could change the law so we could deal with this fairly quickly but there's no pressure to do that. we can't just sit around and do nothing. i think what the president is saying is that i'm dead serious about doing this. he shut the federal government down over the need to secure our border. he's challenged our allies when they're not meeting their expectations, whether it comes to paying up their nato commitment or other things like that. this is a president who said he was going to put our national security first and they shouldn't question him on it.
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>> this is mike block. let's be honest here. we need to have a secure border but it's not like the hordes are ready to come in and destroy everything. let's look at what happened last time the government got into -- the president got into this kind of standoff. we had the government shut down and everybody was pointing fingers, blaming each other. fast forward to now, we are getting over the fact we had a hiccup in the economy, the markets are back to approaching highs again. i look at this situation and say hey, look, the president says he's going to shut down the border, it becomes this situation where he can say hey, look, i can just blame the democrats for this and like you just said, call your congressman, call your senators. it just seems like once again, this is the president actually using his powers of persuasion and negotiation to try to get something done, namely a secure border. what do you think of that? is that what's going on here? is this a negotiation tactic? >> i think it's a pressure tactic. i wouldn't say negotiation. he's sending the message to mexico because it would have considerable harm on mexico as well that we need them to do
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more. we expect them to do more. so i think from that standpoint, it's absolutely applying the pressure where it needs to be done. the same way the president is saying that he will cut off aid to the central american countries. they don't just get a blank check to waste when they're not dealing with the issues that affect our national security. we've got to remember, it's 100,000 people last month who came in, or that's what the estimate is right now. that is 100,000 people who will be here for years, possibly even longer, because only 10% of them actually get their asylum claim and the vast majority of them ignore court orders to go out when they're told to leave. so this has a long-lasting impact on our country. it's something the president said he's not going to tolerate and i'm hoping and i know he hopes that mexico and others will do what's necessary. david: marc, there have been so many times when this president has been second-guessed and he turned out to be right. the border is one of those
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examples. he said it was a crisis, lot of democrats said it wasn't. he's been proven right. the market today was up over 300 points. clearly the market right now is not worried. but what happens if it does begin to wear on the market? as my colleagues here said, $276 billion of u.s. goods are exported into mexico. you stop that just for a few days and you are talking billions of dollars. if it does start to weigh on the market itself, would the president change his tune? >> i don't want to forecast how the president would react based on any kind of specific market impact or anything along those lines. he's very focused on the national security impact. so my hope is that mexico will step up, work with us to help us stop this latest caravan and the flow of migrants. i will also tell you, our economy and the markets themselves, we have been impacted before by things that are going on around the world, whether they are national security issues, disruptions of
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energy, oil, those kinds of things, and there are hiccups and the market recovers. i have no doubt that even if there were some sort of disruption, the market could bear it and then it would overcome it fairly quickly. david: the market is very strong. no doubt. marc lotter, thank you very much. we have some breaking news out of london. when and how will the uk be leaving the eu? the results of the votes for alternatives to theresa may's brexit plan have just come in. ashley webster is standing by in the newsroom. what can you tell us? ashley: well, here we go again. four motions considered by parliament tonight in london, all four failing again. these were amendments or motions that would have kept the uk in a customs union or staying in a single market like the norway style. there also was voting to have a second referendum and also, if there was no deal, to revoke brexit. all four of those deals going down to defeat, much like we saw last friday. so what happens now? well, theresa may, the uk prime
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minister, will meet with her cabinet tomorrow, she's scheduled a long cabinet meeting, some three plus hours to ask where do we go from here. let's not forget, her withdrawal agreement has been voted down by parliament three times in a row. the new deadline to get out of the eu with a deal is april 12th. that's just around the corner, the end of next week. does she try and bring her deal back for a fourth time saying look, the deal, you know, the choices are very clear, it's my deal or we could be stuck in the eu for some time. the other complicating factor in all of this is that the european parliament has its elections may 23rd to may 26th. now, the eu says well, the uk should not be part of that because you are wanting to leave. but the fact that uk can't get its act together to find a way out means that the uk could very well now get swept up into the eu elections which really could mean the united kingdom will be in the eu for more time to come. incredibly frustrating.
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the parliament in the uk has said let us take control and it's like herding cats. they can't all go in the same direction on anything and the humiliation, if you like, goes on. theresa may back to square one. david: what a mess. ashley webster, thank you very much. stormy daniels' former attorney michael avenatti is back in federal court at this hour. this time in california. he could be facing major time behind bars. we will tell you why, coming next. all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees
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he is facing embezzlement and fraud charges. if found guilty, avenatti faces at least 30 years for these charges, and he's looking at another 20 years for charges that were filed last week in new york related to an alleged scheme on shaking down nike for millions of bucks. joining us is former federal prosecutor james trusty who served in the organized crime section at the u.s. department of justice. how strong is the government's case today? >> well, we don't know yet. i would say there's a couple of things that are worrisome for mr. avenatti. the main thing is, these are kind of simple document cases. there's not a giant terrabyte full of discovery to plow through. there will be a paper trail, a fairly easy paper trail for a jury to understand. in the new york case, some recordings to make that even worse for him. they are probably fairly tight cases. >> mike block here. which of these cases is the most -- is he facing the most say punishment for?
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what's the most serious thing here in terms of, you know, credibility to anything he's involved with? is it nike, is it the irs? what is it here? >> it's a great question, because it's a little hard to say. i would say two things. one, extortion typically is going to be viewed as the more serious offense because there's an element of violence to it, an element of threat to that. so the new york case has that going for it. it's probably a pretty compelling case in terms of the paper trail and the recordings. but all of these cases are also driven by loss amount, by how much money was involved, and that can include the attempt, not just the money that was ever received, but the intended fees he was going to collect. both those cases are going to be, you know, hundreds of thousands or millions of dollars. that gets you into a very high level of sentencing guidelines as a starting point. that's going to be trouble. >> this is gary kaltbaum. thanks for being here. i have been watching this case closely, or cases, and it seems like he's getting hit on both
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sides. then he tweets 15 times a day. as a prosecutor, are you basically just loving the fact that this guy's trying to try the case in public on social media? >> well, you have to remember i have been a defense attorney for two years so i'm more on the other side in agony with the lack of client control. but yeah, the old prosecutor hat is still there and the bottom line is look, you know, there's an old saying that a lawyer who represents himself has a fool for a client. same thing goes for media. he needs to step away from the microphone, step away from the keyboard, not worry so much about his 15 minutes of fame because he is saying things that could be used against him at court, either during the trial as an admission or during the trial as obstruction or sentencing as obstruction. he really needs to walk away from that, get some serious counsel and start doing some damage control beyond just denying everything in front of the microphone. >> jack hough. i can't follow everything closely. my head is spinning on this avenatti business. last i heard, last year the guy
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was going to run for president. now he's in all kinds of trouble. help me understand one thing. the business he's out there in l.a. for, is there potential for that to hurt him when he's defending against what's going to happen in new york with the nike business? does one make the other worse for him? >> probably not on any real practical level. the accumulated effect is terrible for him as a person, in terms of what he's facing here. but evidentiary, they are distinct and most likely because neither will be fully resolved before the other one is. i don't think they are going to come into play as some sort of other crimes' evidence. it's all going to be fair game at some sort of sentencing if things go the wrong way for him but i doubt either one of them really creates an admissibility issue for the other trial. >> jim, question about the nike case. it seems as though there was some basis for the charges that he brought about paying off coaches and the kind of things he was sort of alleging he was going to try and keep secret. does that make a case harder to
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prove against him, the fact that there was maybe some underlying merit to his suppositions or whatever, accusations, probably a better word? >> mildly, but there's a long way to go for us to figure out the full extent of the evidence. the real problem is not whether or not there was some truth to the allegations. it's what his solution was. the solution was hire me to do an internal investigation and pay me millions. that ain't the way it works. so that's the real hook for the extortion, not whether or not there was some truth to the underlying accusations about the ncaa. david: is it fair to say his career as a lawyer is over? >> i think his presidential run is really hurting at this point. it might go up today but lawyers policing lawyers, there's never a total guarantee of what's going to happen but i think there's a solid chance that his days of being a lawyer are done. david: james trusty, great to see you. thank you very much. appreciate it. president trump railing against obamacare and many
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republicans are now joining the trump administration's push for better health care. but do they actually have a plan of their own? we will ask a man who does have a plan. fox news medical correspondent, dr. mark siegel, on what needs to be done right now. >> don't tell me that we are taking action to try and kick people off of health care. that's not correct. what we are trying to do is pass a piece of legislation that meets the requirements of the united states constitution. ♪ limu emu & doug mmm, exactly! liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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david: president trump continuing his effort to dismantle obamacare, tweeting out earlier quote, the cost of obamacare is far too high for our great citizens. the deductibles in many cases, way over $7,000. making almost worthless or unusable. good things are going to happen. fox news medical correspondent dr. marc siegel joins us now. he's author of a new op-ed in "the hill" entitled "obamacare is broken and we should fix it."
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how do we fix it? >> by the way, the president is right about those deductibles. you come to the doctor's office with a $7,000 deductible, you get no care whatsoever and you can't afford to pay out of pocket. david: how do we fix it? >> one thing that is not going to happen, it is not going to be repealed. i predict that statute law and severability clauses and the fact that it's an entitlement. i don't think it's going to the supreme court to be repealed. with the individual mandate gone, you no longer get forced into a system where you have to buy insurance with a high premium that's heavily subsidized by the government for something you are never going to need because you are not -- you don't have a chronic illness, so that whole idea of roping people in to pay for other people didn't work and six million people a year took the tax penalty. getting rid of that opens the door to more variety of decisions, more choice in the system, association plans, across state lines plans, church driven plans, skinny plans which have been mocked by the
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democrats but shouldn't be because someone that's in good health and is younger, we want them in the insurance -- david: catastrophic insurance. >> we want them in the insurance pool and we want the government to feel responsible for catastrophic, absolutely. >> it's still going to be obamacare, right? there are only a few choices in the developed world. you have state health care or a single payer health care or this sort of government push into insurance plans which is what this is. we can say obamacare is terrible in terms of the cost but it's really the health care that costs more. i predict this becomes a nafta. we do some tweaks to it from republicans, give the thing a new name, suddenly there's red state buy-in, everyone loves it and the thing becomes a success. >> i don't agree, jack, because i do think the mandate was holding the whole thing together. that was one of the legs of the three-legged stool. that's gone now. by the way, the other reason we need more creative solutions is we got innovation. we've got immunotherapies that are precision-based. for one person they work, they don't work for another. personalized health care. we need creative solutions on how to pay for that. the one size fits all approach doesn't work.
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the government as you say can try to ram you into this insurance plan that doesn't work for you. you don't have anything to force you in anymore. >> so dr. siegel, one size fits all thing is totally not the right thing. talking to governor huckabee this morning, he was really advocating block grants to the states because the state requirement in a state like mississippi could be very different from new york. you don't include that in your op-ed today. is that something that you advocate for or not? >> i'm on the fence about that. you are talking about medicaid block grants and i like governor huckabee's point. i'm more interested when it comes to medicaid and this issue of work requirements that medicaid's czar has been pushing because if you are able-bodied and you are into that medicaid expansion which is very popular in the rural states, why shouldn't you be doing community service or educating towards a job? the idea is the medicaid rules can shrink if you actually end up working. that's such a great idea. i'm very disturbed that in arkansas, it's being contested legally.
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block grants work, governor huckabee is right. i think states should have more control over it. that part i agree with. >> dr. siegel, talking about innovative solutions, one thing i'm excited about or hopeful for is how jpmorgan, berkshire hathaway and amazon announced they were banding together to find solutions in the private health insurance arena. we haven't heard a lot about that. what's your thoughts on what they might bring to the table? >> i absolutely love that. and i love another thing you didn't bring up, henry ford hospital in detroit is doing this, direct care models, where you cut out the middleman. obviously it's going to bring down costs. you have a huge array of health care like you do at henry ford, i'm not advertising ford, i have no connection with the system, but there are six hospitals in place there. you have all of these providers and you have patients that can get care directly because they are employers. that's got to cost less than having the insurer skimming off the top or the pharmacy benefit manager. the thing has its own pharmacy system. >> let me point out, you have
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distributors who have had that business model, they are under pressure now. i think it's a good thing. >> they have to justify what they're doing. by the way, price transparency plays into that. we know what things cost, we will find out who is really bilking the system and who isn't. >> dr. siegel, this is gary kaltbaum. there is a problem with your ideas. they are too logical. with government, there is no logic that comes from them. imagine competitiveness through the states where they actually have to bid for your business. we don't have that right now. i try to get something different, i couldn't find any other insurance. going forward, you have the left right now saying hey, let's just do government everything. how are you able to fight that as we move forward towards the election, because it's going to be all about the political. >> that's a great way to phrase it. number one, medicare that fits all is ridiculous because it's not medicare, number one, it's just diluted insurance. they tried to bite the thing too deeply and they bit into the
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employer based health care system which has 170 million people covered. they are going to fall on their sword with that. that's number one. number two, i like the point that when medicare sets something up, the private sector follows suit. i like what secretary azar is doing with price transparency, with choice, and i think that may infiltrate the private sector more. if we know what we are paying for, maybe we will have more competition. david: we have to do this quickly. there is one government program that seems to be working. one. that's medicare advantage, where you put as little distance between the provider and the receiver of the health care as possible, so that the patient gets to see what he wants, what his most cost-effective treatment is. is there any way to expand that to the general population? >> i completely agree with that. that medicare advantage model is what hhs is trying to expand to part d, to medicare part d with drug pricing and even some part b. it works because everybody makes money with medicare advantage including the insurers love
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medicare advantage. you're right, the patient gets choice. choice is key here. choice is key and medicare advantage gives you choice. david: they say it's unlike any other product on the market, but it is a product. >> it works. david: thank you very much. appreciate it. facebook ceo mark zuckerberg calling for more regulations against his own company. so why would any business owner ask to be regulated? we have an answer coming up. ours visit thousands of companies, in a multitude of countries, where we get to know the people that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence. that's why we go beyond the numbers. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it starts acting in my body from the first dose and continues to work when i need it, 24/7.
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david: mark zuckerberg calling for the government to regulate the internet, including his own company. in an op-ed for "the washington post" the facebook ceo saying regulators should play quote, a more active role in four areas, including harmful content, election integrity, privacy and data portability. why is zuckerberg asking to be regulated? >> you mean all the things they haven't taken care of at facebook? methinks mr. zuckerberg knows
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the shape of things to come from washington, d.c. and instead of being on that side, he's going to be on their side holding hands and maybe writing the rules and the regulations on the industry he's already in. i suspect there is a method to his madness on this. >> let me take gary's cynicism a step further. it's like "the godfather" keep your friends close and your enemies closer. this is a situation where the optics look great. i'm mark zuckerberg and i'm going to let myself be regulated, here, let me help out. fact of the matter is he's drowning in this but sees an opportunity to create this illusion where he's saying look, i'm playing by the rules but meanwhile he will keep changing the game. never mind the rules, they won't apply much longer. >> i think that's part of it. i think it's a preemptive bid. you have people on the left and the right now threatening to put in legislation which would break up facebook, which would allow them to basically sever from facebook instagram. how has facebook warded off
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competition in the past, by buying it up. if they no longer can do that, we put in a lot of regulation and little startup companies that can threaten them down the road basically can't compete. >> how long are we going to dump on mark zuckerberg for? >> it's so fun. >> he creates this platform and it turns out we are horrible people. by we, i mean everyone but me like on the internet, we say horrible things and mark zuckerberg, how come you won't clean this mess up. this is him saying you think it's so easy, you do it. david: you've got it. "wall street journal" has a great piece today reminding us that big companies can absorb regulation much better than small companies. what is he afraid of? is he afraid of a big competitor like google or something, yes, but i think tehe's more afraid a startup coming in and doing what he does. that's why he buys all these startups. >> instagram was an actual threat to facebook and still is except now that they own it. yes, i think part of it is what
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you are saying, jack, that guess what, they can't possibly oversee this thing. i think he's willing to admit that. >> their reputation has taken a pretty darned good hit over the last year because they have become a data collecting monster and i think people have had enough of it. i think it's actually a pretty smart move to try and get in front of this. their earnings and sales have been decelerating. millenials have been saying bye-bye to it. they've got to do something. i think he's trying to do something different. again, i think the most important part of this is stay on the side of the people who are going to come down and come down after you pretty darned good. >> millenials are saying bye-bye to it but hello to instagram, facebook's customers, if you will, are going nowhere because they like free stuff. it's free. people like free. >> instagram is becoming more monetizable. he knows that. he sees that. it's gotten to the point where you can click through instagram and buy things and book trips, do whatever you want.
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david: something else he's seen which is how pathetic politicians are and regulators are in dealing with people like him. whenever he goes in front of them, that's only in public, there are a lot of private meetings, i'm sure, where he meets with regulators. he and his consort of people, his minions, know so much more about how to deal with the internet and how to run their way around various regulations, if he can have a hand in making these regulations, i think he wins. >> he will keep staying one step ahead, period. full stop. >> are you suggesting the united states congress is out of touch with technology? >> it's funny to watch those hearings where they truly don't have a clue and they are looking at their staff and thinking do you know what he's talking about? david: let's face it, if you knew as much as they did, these people would be in silicon valley making millions, not inside the beltway making a couple thousand of dollars a week. top democrat candidates in the 2020 election taking the stage back-to-back in d.c. as
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pitching their platforms, taking on some of president trump's ideas, especially his plan for health care. edward lawrence joining us from d.c. to give us the very latest. hi, edward. reporter: hey, david. yeah, there are so many candidates on the democratic side that voters need to figure out how to separate them. today in washington, senator elizabeth warren came out attacking the trump administration as she was the first one to really take major swipes at the president today. she says the entire administration is a threat to national security, adding 25 people in the white house got security clearance who shouldn't have. >> yeah. why, oh, because they had ties to foreign governments, because they had conflicts of interest, because they had financial problems that made them vulnerable. reporter: eight dantsd candidat the democratic side spoke today. this was set up by unions so union members can decide who they want as a candidate. senator cory booker has an unusual penalty for prescription drug companies who raise prices.
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>> a pharmaceutical company raises their prices in our country higher than that in other countries, then we not only don't allow it but if they do it, we take away their patent. reporter: this is the first time i have heard a candidate saying they would remove intellectual property protection. the candidates also talked education, many of them thinking college should be free like high school. former secretary julian castro says all teachers at all grade levels deserve a pay raise. >> basically, we need to invest in things like universal pre-k and improving our k through 12 system by paying teachers what they deserve and reducing class sizes. reporter: the other universal topic here, climate change. many democratic hopefuls say on their first day in office they would re-enter the paris climate accord. back to you guys. david: edward, thank you very much. gang, what do we think of all this? >> so one question i would have, i wish edward had stuck around,
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is if joe biden does not run, now that he has this little problem that everyone's talking about, who is positioning themselves in that forum as the moderate candidate? who is trying to appeal after all to union workers, blue collar workers who defected to donald trump in 2016, because a lot of people feel like that is necessary for democrats to win. >> where was biden, by the way? i heard he had grabbed an early lead in this thing. guess he wasn't on the list. what i'm looking for, i'm not worried about who is moderate at this point. i'm looking for anyone who is from out there because when i hear these people speak -- >> it's so true. >> it's a problem for the democrats. they set themselves up as the party of virtue. i get it, i get exactly what they are upset about, but it is hard to be the most virtuous person in america and also be fun. i think they have themselves in a real box here. >> let's face it. we need someone who will be provocative and innovative. talking about health care's fine but not if you are proposing something like bernie sanders is
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and you have no idea how to pay for it. it was exciting to hear castro talk about education. hope that's not the last we hear about education. that should be a key issue. climate change is not going to do the trick. i i also want to add joe biden wasn't there, how about pete buttigi buttigieg? >> you are the only person who can pronounce his name. >> practicing is not fair. david: i got it right the first time. >> just listen carefully. they have set themselves up as the authoritarian party, everything is government. everything is a higher tax. everything is more government control. everything is we, the government, not we the people. listen very closely. if you added up all the taxes they want to put on us, we would be at 150% tax rate from the poor to the wealthy. it is absolutely insane at this point in time. david: the only way you can justify that is if the economy's
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in shambles, if we have some kind of national emergency that i mean, maybe we have one on the border but the economy certainly doesn't have it. we had a 300 point gain today in the market. how do they make the case that the economy's so bad that we need these drastic measures to improve it? >> that's really a problem, because when it comes down to this, the average voter is risk-averse. first of all, they won't even know all the names in this race. they will say to themselves i've got a job, this worked out pretty well for me, trump isn't perfect, i have my complaints, but do i want to take a chance on something different. the average person's risk-averse. you really need to have something special to get over that hump. >> i think that's true for republicans and democrats. i totally agree. that's why the health care debate is sort of questionable. if i were the president, i would not have jumped back into health care because in terms of taking a risk, that's what voters may think is risky. >> i think -- but the president does have an opportunity here is what i will say. one way to not solve this is what cory booker said. pharma companies do need to be regulated. there needs to be something done about pricing.
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but violating intellectual property law like he said, take the patents away? are you kidding me? >> all i know is every day i'm looking for anybody to say something logical. the latest one is beto coming out saying wealth should be broken apart. what the heck does that mean? david: i heard something logical. hickenlooper, governor hickenlooper was talking about how he brought up the fact we now have more jobs than we have job seekers and therefore, we need to find more job seekers but in saying that, he just justified the trump economic plan. so again, they are really stuck in a -- between a rock and a hard place in proving the economy is so terrible when they admit there are more jobs than job seekers. >> i like jack's idea that we need more fun candidates. all kidding aside, i think that's where beto comes in. i don't view him as a policy heavyweight at all. >> oh, no.
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>> he kind of makes it kind of light and it is light but i think that's why he's got some traction. [ speaking simultaneously ] david: what a world. all right. meanwhile, speaking of the absurd, elon musk, the rapper. the new song he just dropped. we will play it for you. should his latest passion concern tesla investor s oorsin? that's next.
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but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? ♪ ♪ ♪ yes, this is a business network, ladies and gentlemen. that was elon musk's rap song.
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he released it over the weekend. believe it or not the song has been listened to by over one million listeners. we reached out to tesla for comments. we haven't heard back yet. so gang, if you are an investor, does this concern you? >> that music is exactly why they created whiskey. look, i stopped trusting elon musk about a year, year and a half ago. for me, i need the dude who's running the show to be consistent ope and know his rold he needs to slow his role. the sec is on pim. he can do all of the rapping he wants but he better come through with the amount of cars he says he's coming through with or else the stocks are underperforming big disbliem at least with
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secur. i'm still waiting for mercedes pe bens, gm, bmw to come in and eat this guy's lunch. people love the name and the cars, clock is ticking. and we don't need this. david: the stock was up 3 1/3%. that is an aide that was killed in cincinnati because he was threatening a toddler. >> send your angry e-mail to david. >> why would he will screwing around like this if the next numbers he was going to present weren't good. >> i don't think he's got nearly that kind of self restraint. i mean he saw something he wanted to do, he did it. the important issue is it's not very good so i don't think there will be another one. >> the big question is the million people that listen to
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it. don't they have a life? this is how they spend their time. david: the stock was up today. the point is, the investors, if you've stuck with elon this long, him doing a rap song is not going to get you off of the stock. >> he's goa got a cult followind smart people think he's going to deliver. the stocks are down why the marketmarkets near the highs. when all is said and done he's going to have to come through with what wall street wants and that's a lot of cars being sold with a lot of profit. >> 15 months ago people own bitcoin, you're on ind yoi idiot owning it. oops? david: how much bigger is tesla's stock? it's still a lot bigger than gm. >> i got to take a fresh look. i'm not sure. >> i think when they send the
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next tesla into space it will be very interesting. the music they're playing. >> gm does eight times the sales and market caps a little higher. david: that does it for "bulls"& bears." elizabeth: showdown at the border. conflicting reports coming in. mexico's secretary of interior says there's a caravan of 60,000 heading our way. honduras depeuts that. disputes that. president trump not taking any chances. he may shut down the border as early as this week. and the president is ordering border patrol to quote surge, meaning ramp up, even more border workers there. mere's thhere's the question. will mexico stand up and stop it? we're on it. mexico may well do that. we're going to take you to
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