pastor john distinctly i asked you if you needed anything that day, and you said just prayers. we'll keep doing that. okay? good luck with everything, pastor john. >> puts everything in perspective, doesn't it? >> it sure does. still tough. >> that does it for us. bulls & bears starts right now. david: breaking news, fox corporation, our parent company and disney just reporting earnings after the close today. both beating expectations and both up in after hours. fox is up nearly 6%. we will bring you much more on in this in a few minutes. up here first, trade tensions rising and the clock is ticking as the white house says china is ready to make a deal, but beijing warning they will retaliate, if the u.s. raises tariffs with less than 24 hours left until talks resume, will we get a deal before the sanctions kick in at midnight tomorrow? hi everybody. this is bulls & bears thanks for joining us. i'm david asman.

joining me is the panel today. the u.s. trade representatives office has filed the paperwork to formally raise tariffs on chinese imports, but the white house put out some positive news this morning, and that led to a market pop. listen. >> look we've got an indication that they want to make a deal. our teams are in continued negotiations. they are going to sit down tomorrow. we will see what happens from there. david: let's bring in former trump campaign trade and jobs advisor curtis ellis. curtis, good to see you. so far, the china trade fight hasn't really affected most americans. they haven't felt it. will that change friday if the new tariffs kick in? >> i say americans have felt it. we're seeing the 13th straight month of more job openings and people to fill them. david: do you think that's because of the trade tariffs? >> absolutely. candidate trump said he would put in place a program of tax

reform, trade reform, regulatory reform and energy reform that would make this the best place on earth to live, work, invest and do business, and it is working. >> what about china tariffs? that doesn't equate -- >> that's right. businesses are moving out of china. they are moving out of china. as they move closer to america, even the feed stocks and the sub components that go into the finished products are more likely to -- >> what about the retailers? what about the consumers? furniture prices are going up. luggage is costing more. televisions, etc., etc., doesn't that hurt the consumer? don't we eventually pay the tariffs at the end? >> the fact of the matter is inflation is relatively flat. that's what all the evidence says. in fact, there's plenty of body of economic evidence that shows that incomes due to outsourcing, incomes fall even faster than the -- more than offsetting any punitive benefit of lower consumer prices from cheap imports. >> that's completely not true. the evidence shows we now have multiple studies about the

tariffs that the trump administration put into effect. number one, they were born 99% by the american consumers. number two, they cost the american taxpayer more than $900,000 per job saved. number three, american businesses across multiple manufacturing industries have said that the tax being put on them and the cost associated with these tariffs are leading them to close down their operations in the u.s. and move them to mexico and to china. -- [inaudible] -- company announced that today. >> austin you have your evidence. i have mine. there's plenty of evidence to show when americans don't have any money, they don't care how cheap the consumer goods are. the goal here is to bring jobs back to america. bring back to the western hemisphere. and we know -- [talking over each other]

>> what are you talking about? these tariffs are a tax on american consumers. >> keep repeating that, austin. it does not make it true. the fact of the matter is the tariff duty is placed on the first price it is paid to a factory in china. not on the wholesale price, not on the price paid to middlemen in hong kong. if anybody wants to eat the 25% duty, it will be that middleman in hong kong who doubles or triples the price he pays to a factory in china. that's going to be the first place -- >> guys, farmers around the united states are up in arms in outrage over these tariffs because farm income is -- >> -- and going bankrupt. >> -- there's no sense in which tariffs are good for the u.s. economy. >> the economy is doing quite well. [talking over each other] >> first of all, let's get things straight.

tariff is a sales tax. 25% tax on autos. 25% tax on anything else. that is a tax. and ultimately the consumer bears it. two, in terms of the booming economy, that's deregulation and tax cuts. we had a booming economy in 1929, if you want to go back in history. and we put in the tariff, and guess what happened? the world trading system fell apart and we went into a down spin. so let's keep the things that are working, and in terms of china trade abuses, yeah, they've been engaged in them, but go after the perpetrators, like that cfo of huawei who is going to end up in jail; rightly so. >> there are plenty of perpetrators that can go in jail. i don't want to get into a time line, on that tariff, but the crash came before that tariff went into effect. >> it made it worse. >> -- 1929 when markets anticipate the future, and when those horrific tariffs started to ring up their ugly head in

the fall of 29 that's when the market crashed. >> somehow china has done great with the highest tariffs on earth. tariffs are a poison that always kills the economic growth, tell that to the chinese. david: hold on to a second. i want to say something in accordance with what curtis is saying. this is not just a short-term boom that we're in. this is the 13th month where we have more jobs than job seekers. i mean, that's an extraordinary record. we are on -- this is not sort of a temporary boom. this is a long-term job growth -- [talking over each other] david: hold on, guys. we have to hear one person at a time so we can hear what you're saying. go ahead, austin. >> okay. we've had 122 months, i believe, of private sector job growth, the longest on record. that's fabulous. can one of you explain to me what is going through the president's head when you have a great jobs number, and then you turn around and say we're going

to reignite trade war with china? david: it is very simple austin. you want an answer. you asked the question. do you want an answer to your question? do you want an answer? this is the answer to your question. he's -- i'm answering your question, austin. he's a negotiator. he took that as a point of strength to bring to the negotiations. lord knows if we're going to have these raise in sanctions tomorrow or friday. they may not happen, if they come to some deal, but he figured he would argue from a point of strength. that's what you do. he got great numbers. and he turned the screws. >> okay. >> on us. why did he do that? >> because china's never opened its market as a promise. it's never lived up to agreements it agreed to. what is he supposed to do? sit there and lick their boots the way the obama administration did? the way every previous administration did? >> let me explain it from the

chinese side. how about that, okay? >> please. >> asia pacific and around d.c., this is what happens, as i mentioned to a lot of people, china is not a one man dictatorship. you also have to get consensus across the aisle as well. there's a very strong, very powerful in place. not all read the 150 page report, that 150 page offer. when they went through the details, a lot of them, especially hardliners were a bit shocked at some of the agreements. also how do you verify technology, force technology therefore, ip theft and the like? also by the way keeping those enforcement mechanisms in place which loses china a lot of faith, so the u.s. can say we will keep the tariffs on until you promise and keep your promises. i think that was very hard -- david: in other words, people were pushing back to these

agreements. they didn't like what they saw on paper? >> that's exactly what happened. you are not selling it to one person. you have to get more than just xi jinping on board. david: we have breaking news. our parent company fox corporation along with walt disney reporting earnings after the close. both beating on perspective top and bottom lines. our own deidre bolton standing by in the newsroom with the very latest >> they both sure did. hey, david. if you look at the post market activity, you will see both of these shares really moving higher. disney is up right now around 4%. both companies exceeding both on the top and the bottom line. so disney's investor call, analyst call happening right now, and i can safely confirm that "avengers: endgame" is going to show up on disney plus on december 11th. so one month after the disney plus service launches. so bob iger just announcing that on the call. but i think what's interesting about this, it highlights one of the biggest questions out there for disney. as we know, this stock hitting an all-time high fairly recently. and as far as analysts are

concerned, they want to know how disney plus is going to compete with netflix, how it is going to compete with amazon. some of these little clues that are being built out about disney plus, quite happy for those. one thing i want to make as a separate point here, david, as i went through the different areas of revenue that are part of disney. so media networks, parks, and experiences and consumer products and then studio entertainment. so the revenue on media networks and parks experiences and consumer products exceeded wall street's expectations. the only one that was a revenue miss was the studio entertainment. a lot of people were saying ahead of time listen these comps were going to be really tough because black panther was such a hit and disney distributed that. in the past 48 hours, disney also said they are going to really shift their whole movie distribution strategy and schedule for lack of a better term so all these big blockbuster brands that people love, i'm talking about the star wars franchise, the marvel

franchise, basically disney has spaced these out already for the next eight years. as one analyst put it, disney owns the entertainment week of the next eight christmases. a lot of analysts -- positive analyst reaction to these figures exceeding on the top and bottom line as i mentioned. david: thank you very much, deidre, appreciate it. curtis, you took a lot of flak. thank you for being here. to button it up, do you think we will have tariffs by the end of the week? >> i think if china doesn't wake up and fly right, yes, we will. i think we will. president trump is not backing down. >> within a few weeks we will have a deal. that's my prediction. >> i agree. david: thank you, gang. the house judiciary committee just voting to hold attorney general barr in contempt. plus the new york times releasing a new report with a lot of old details on the president's taxes. why president trump is calling it a quote hit job. judge andrew napolitano joining us right after the short break. i'm working to keep the fire going

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>> attorney general barr, having proved himself to be the personal attorney to president trump, rather than the attorney general of the united states, by

misleading the public as to the contents of the mueller report twice, by not being truthful with congress, has shown himself to be the personal attorney of the united states rather than the attorney general. david: the house judiciary committee just voting moments ago to hold attorney general barr in contempt of congress for not releasing the redacted grand jury information from the mueller report. the vote was 24 in favor. 16 against. while no date is set, the vote must now head to the house floor. joining us now is fox news judicial analyst judge andrew napolitano. by the way, that was jerry nadler, the chairman of the house judiciary committee. it was 20 years ago when he was screaming to keep the same kind of information from reaching the public from the starr report about clinton. >> obviously politics involved in this. david: you think? [laughter] >> there's not just the law, even though theoretically the members of this committee are lawyers. you know, holding the attorney general in contempt is an

irritating thing for the attorney general, but it doesn't really move the dial at all. you know, people don't get arrested for contempt. it generally doesn't affect their right to practice law after they leave being attorney general, but i think in congressman nadler's mind, it was necessary to do so in order to send a message to others who might seek to defy a subpoena. so a subpoena is presumed valid in my view once the subpoena is served. the attorney general shouldn't -- if he can't comply with it, shouldn't negotiate about it. he should challenge in court and let a federal judge decide how and with what information and under what circumstances, if at all, it should be complied with. >> judge, scott martin. i'm guessing that donald trump is not exactly happy about this development in the last hour. does he have any moves do you think he's going to make? anything he can do to help push this further more towards the way he wants it to go?

>> i thought the assertion of executive privilege in terms of the redacted parts of the report is a little unusual. because if bill barr is being truthful, i believe he has been, and the president hasn't seen the redacted parts of the report and neither has his lawyers, so what are they claiming executive privilege for? there's probably a lot of material in there that did not come from the president. remember, executive privilege pertains to communications involving the president or intended for the president only with his senior most aides. so if there's information in there about the prosecution of roger stone, which is still an ongoing prosecution, the president's claim of executive privilege doesn't pertain to that. i think the president wants to slow this down with that claim, but i think much of the claim is not relevant. >> so what should he have done? >> well, what he should have -- >> i'm not a lawyer. i'm not a lawyer, but it seems like the president made a public statement that he's going to shut down cooperation with all

investigations in congress, not just about the mueller report. is he allowed to do that? i thought the other members of the cabinet and the people that are overseen by congress, if congress says come down here and explain what you did, they kind of have to show up and do that. that's what they made me do when i was in the cabinet. >> yes, i remember covering it when they made you do that. essentially, you are correct. he cannot do that. if you recall, one of the articles of impeachment against richard nixon was the failure to comply or even respond to valid subpoenas. there are selected areas of privilege, but for the most part, those subpoenas are valid and need to be complied with, and when push comes to shove, the executive branch is going to lose. david: judge, we want to switch gears. the new york times today publishing ten years of president trump's tax data, indicating the president saw business losses of more than a billion dollars from 85 to 94. the president fired back on twitter saying quote real estate

developers in the 80s and 90s were entitled to massive write-offs and depreciation which would if one was actively building show tax losses and losses, much was nonmonetary. sometimes considered tax shelter. you would get it by building or even buying. you also wanted to show losses for tax purposes. almost all real estate developers did and often renegotiate with banks. it was sport. additionally the very old information put out is a highly inaccurate fake news hit job. is trump right, judge? >> with the exception of the fake news hit job. i could not have written that better myself and under the law, at the time, and under the law today, yes, he's correct. of course you want to take those losses. this is creative accounting done brilliantly by him. so he takes a loss, and that deprives the irs of the ability to tax his ordinary income for the extent -- david: not illegally?

>> not illegal and it is perfectly lawful. he was audited for it and the irs authorized it. >> steve, you have been writing about this for 20 years. >> there are two parts of it. in the 80s he was flying high. in the early 90s he got overextended when the recession hit, he went through a painful period. kept him alive, but he nearly went down. >> i want to know about the tax documents because the new york times say they got it from someone who had legal access to them. is that breaking laws? >> well, i'm scratching my head to try and figure out the circumstances under which they got it. if the person or persons from whom they got it had legal access, that person obviously violated some duty of confidentiality which could affect that person's professional licensure -- >> judge, couldn't trump come in on that point, judge, and say hey i want to find out who leaked this or who gave out this information and get them in court? >> yes, it almost sounds -- just trying to read the article. i read it several times. it almost sounds like this is

not a government person, that this is someone along the chain of custody between donald trump the client and the irs. i mean, if it is a government person, you have a crime. if it's a nongovernment person, you have at least an unethical breach and a course of action. david: i was thinking michael cohen. that popped into my mind first off. >> that would be a tremendous breach on the part of cohen. but of course their relationship -- >> in the early 90s when trump had his troubles, a lot of other people had troubles. david: that's right. >> that wasn't unusual. david: amazon was losing money for year after year after it was developing a brand. he was developing a brand as well and he's worth a lot more. >> you guys sound more apologetic -- you are the apologists for him. david: are you kidding? do you know anything about steve's background with donald trump or judge napolitano -- >> austin, there's nothing wrong with -- you know this. there's nothing wrong with creative accounting and taking a loss when you can. >> but we wrote about those

things. >> once the tax reform act of 1986, largely ended those tax shelters, so a lot of that tax shelter behavior should have been in part before 1986. but second, this was according to the new york times likely the largest personal losses of any one in the united states. so i don't -- david: he made up a lot more -- [inaudible]. guys we have to move on. a federal court handing president trump a major win on asylum as the white house launches a new bid to overhaul the entire immigration system. but will trump get the support of democrats? >> what we need to do is protect our own sovereignty at our southern border and make sure that our laws are not being abused and that we don't have a flood of migrants coming into our country. not to worry abog their minds in retirement. you may have always imagined your dream car as something fast.

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out two broad approaches to immigration reform. the first is immediate and urgent, addressing the crisis at our southern border where we had apprehensions last month. that's reforming our asylum laws making sure we don't have people using fraud. the second part is a high-skilled merit based immigration system. today we have way too many people coming into the country who are unskilled workers or low skilled workers and it is driving down american wages. david: arkansas senator tom cotton on president trump's new push to overhaul the u.s. immigration system this as a federal court is ruling the trump administration can require nonmexican asylum seekers to wait in mexico while their cases are pending. can the administration get the support it needs from democrats to reform the whole immigration system? what do you think? >> david, i mean, we're talking about congress here. looking at something that is a

long time coming, decades in fact of real reform. i think the problem we're going to have here with respect to your question about support from democrats is that trump has come out very vocally and hit this problem front and center, and i believe if the democrats came to the table on this and actually helped get something done here, they might feel make. it might make them look bad because they are aligning with things that trump has thrown out there. i'm not holding my breath. >> neither am i. >> with the humanitarian crisis at the border, david, there's no reason why the president can't go on tv, show some of those scenes and says here's what we have to do short-term. this is about people, not about reforming the immigration system and really take it and make it front and center. >> i would remind everybody that on this issue, donald trump really destroyed his negotiating credibility, let's call it, with the democrats in congress. the very first negotiation with

nancy pelosi and chuck schumer, they believed that they had made a deal with the president to give him money for the wall in exchange for daca, and then a few days after that, the president backed away and said oh, actually i'm not going to do that deal, and ever since then, they don't trust the president, if he says i will offer you a, b, and c, in exchange for you give me what i want, they won't do the deal because they don't think he can be trusted. david: who trusts the democrats after they have denied that there was any crisis on the border? finally they were forced to admit it when it was on the front page of the new york times, "wall street journal," 60 minutes, finally they recognized it as a crisis on the border. for months and months, the democrats were saying there's no problem at the border. that's a direct quote from just about every one of the democratic presidential candidates. >> i mean you are talking about the pr and who takes the credit. i'm talking about the internal

negotiation. david: i'm talking about credibility, austin. it is very simple. credibility. >> i don't think they can negotiate a bill on immigration that will get a majority of congress plus signed by the president because the president can't make any offers that the democrats would believe. >> if he does a nationwide address and does that kind of deal, daca, h-1b reform, and maybe money for a hudson tunnel to keep schumer happy, you could get an agreement with public opinion behind it. that was lacking before. it's there now. >> david, you said credibility earlier. i mean, austin, to your point, when those negotiations with chuck and nancy fell apart, trump did kind of back away, and there was some strife there, but they also said that trump was throwing temper tantrums, acting like a child in the meeting, i mean, they destroyed any chance after those negotiations at first blush fell apart for anybody to come back and get

something done. david: there are certain issues i think that everybody could come behind. the merit-based system, changing from this crazy lottery system that we have with chain migration right now with something based on merit. we have more jobs than seekers in america. we could use people with specific skills for those people for jobs in the jobs market. isn't that something that both republicans and democrats would agree on? >> they might. it is an interesting idea. what you have seen some of the republicans however advocating is a wholesale dramatic reduction cutting in half of legal immigration into the united states. so i actually think where these most immigration deals break down is on the republican side. they can't agree on anything except enforcement. >> what you do is you go for what you can get an agreement on. for example, they're all salivating at the idea of having an infrastructure bill.

the problem is, you have a shortage of construction workers. you could start with that. you want more highways and bridges. you have to bring in more workers. hello. david: i hope they are listening. great point. uber and lyft drivers protesting all over the world. we will tell you what they want and why one of the protests didn't go as planned. and the unique challenges in that sector? coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. that's why i go beyond the numbers.

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...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? david: an effort by unions to organize uber and lyft drivers around the world today calling for a strike that wasn't universally obeyed. robert gray is live in san francisco at the protest today. robert, go ahead. >> hey, david, thanks so much. there was definite disruption here in the midday, not during the rushes. you had scores of protesters here. uber drivers and other protesters joining in basically shutting down market street which is a major thoroughfare through the tech here right outside of uber headquarters in san francisco. basically the cars were stopped from coming through here. the trollies and the buses

literally stopped in their tracks. we talked to one of the organizers earlier. >> we don't believe that uber is going to walk out here today and ask us what we want and give it to us. but this is a starting point. this movement that started here in san francisco and l.a., quickly evolved into a global day of action today. so this is just the beginning. if we don't get what we want after today, we're not going to stop. >> hard to judge the effects here long-term, but certainly reports coming out of new york city saying there was little disruption in that morning rush hour. a lot of drivers were on the job, and even as the strike -- and the protests that were going on here, there were still a pretty good amount of both uber and lyft drivers circling around this immediate area, at least they had their apps on indicating they were for hire. the drivers are asking for better minimum wages, higher minimum wages, some benefits and be treated more like employee

not independent contractors. uber and lyft have both said that would be a material adversely affecting the companies if the drivers were classified as companies. the companies looking to cut costs as they are going public imminently. traders are telling me the drivers are a replaceable commodity and technology is not. that's what they are investing in with the ipo. back to you. david: we're all replaceable, robert, we know that. robert good to see you. the union that organized the strike fell on a lot of deaf ears and many lyft and uber drivers kept working. is the ride sharing model in trouble? or is it the unions that want to organize the drivers? >> i'd say a bit of both, you know, if you ask me. the bigger question here, which is a very interesting one. they are having ipos. uber and lyft. they are going to be worth 50, 100 billion dollars.

but both of them are losing boat loads of money in the current model. so for investors to be saying they want to invest in that, it's either got to be that prices on consumers are going to go up in the future or the amount that they are paying the drivers is going to go down in the future. otherwise, they're not breaking even. and so what a lot of these protests are is the drivers saying well, wait a minute, we don't want -- we don't want our payments to go down, but i think you are going to see protests of people walking, you know, with their feet, voting with their vote, if they try to raise prices. so it is going to be interesting to see how this plays out, in an otherwise strong economy, so that workers do have some alternative choices. >> well, the companies -- both companies are right, that if you go to unionized workers, that's the end of them. even employees, that's the end of them. it has to be independent contractors. those that don't like it can drop out.

some of the early drivers actually got some shares out of this ipo, will have some shares out of this ipo. but i think they are going for volume. get more and more volume. and even though cities are resisting, the more volume they get, the more we become accustomed to it, how easy it is, even for grandma to get an uber. they may take away their license or my license as i get older but i can get around with the best of them. i wouldn't put too much stock you might say not to be punny on driverless cars. i think that's years down the road. uber is a great service and will grow. >> the ipo this friday, i've read through the filing, basically they say that yes, their business depends on these employees, these drivers being classified as contractors. and they've also noted, uber has noted they paid autoover 70 billion dollars -- out over 70 billion dollars over the year to the 3.3 million drivers around the world so it's not like they

haven't been paid. don't forget who operates the technology, who puts the r&d into it. it is the companies themselves; right? they are still subsidizing each and every ride, mind you. they are still paying out, but for these employees to ask for more, that might be a little tough. >> that's a good point too. this is part of the business model. you are asking a business change to the business model that could really affect the business poorly. as i think many folks already pointed out, i mean these are companies we saw from the lyft earnings just recently guys, these companies are both losing over a billion dollars a year. there's massive amounts of losses here. it is not like there's a ton of money go to go around. -- a ton of money to go around. let's just remember. nothing against the lyft, uber drivers, appreciate them. you drive a car. i drive a car too. you pick people up. you drop them off. to ask for all these things seems a little bit egregious to me at this point. david: i'm wondering why you can't drop the regulations that make it so difficult for individuals to start their own version of uber. you used to have in places like

washington, d.c., where you have all independent workers, not part of this taxi -- like you have in new york, it seems like there are more options, prices a little lower. why can't we lower the regulations and essentially make everybody an uber driver? >> some of the regulations, david, are about safety, and i think if there's no background checks being -- taking place at all, you are going to have a backlash by passengers that they are going to say whoa, wait a second, you know, a guy's out on parole, he's going to pick you up. david: i think you are right, austin. they began as safety, but what they have turned into is these people in city governments working with the taxi unions. >> trying to put a cap on them in places like new york, trying to strangle them, make them like the rest of the industry. the empire always strikes back. that's what you are seeing against uber and lyft right now. david: gm is getting praise from the white house for selling its

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david: president trump's criticism of gm has seemingly come to an end after the president is giving the company

kudos today tweeting out great news to ohio. i was informed that gm will be selling its plant where they plan to build electric trucks. gm will also be spending 700 million dollars in ohio in three separate locations creating another 450 jobs. i've been working nicely with gm to get this done. thank you to mary b, you're great, governor and senator rob portman. with all the car companies coming back and much more, the usa is booming. is the auto comeback for real? if so, what impact could it have on the whole economy? what do you think? >> well, david, i love to see this being that ohio is my home state so holler at ohio for the jobs and production they are getting out of this. you know, the electric movement let's say in cars vehicles trucks is definitely coming on. it's not going to be tomorrow where it's taking over but it is a good movement there. but now we have the tariffs moving. the big thing with china in a next few days. maybe they will postpone some

plans with tariff hikes. auto workers have a direct effect or they will be affected based on the how the tariff talk works out. but automakers have a little bit of pressure on them given the fact we have self-driving cars coming down the road and so forth. to me it is a cloudier picture than it once was. >> higher aluminium and steel prices as well. i was doing the math because 14,000 jobs are being cut by gm. that's 3,000 jobs out of the 14,000 that are being saved, not a lot of them. don't forget, the u.s. saw 7 million jobs available in the recent past month. that's close to a record. maybe retraining and get these workers working elsewhere in other industries >> if we get the trade dispute out of the way you will see the economy boom and more auto sales. in terms of electric vehicles, that's not going to happen for years and years without massive subsidies. why should american workers be subsidizing buyers in california

and new york to have their teslas and these other electric cars that companies would not make -- >> what do you mean? we love our teslas. >> the companies would not make those cars if the government wasn't pushing them to do it. they are not market oriented. unless you more like coal fired plants to get the electricity for these cars. >> austin, go ahead. >> look, i would just say there's a lot of evidence that fossil fuels have been heavily subsidized for many years. so the argument that this is a subsidy for renewable or electric vehicles and therefore it's -- >> $7500 a vehicle, that's real. >> -- subsidies we got for fossil fuels for a long time. david: the uaw doesn't like this deal. during the 60s, 70s, 80s, a lot of people it was one of the causes of the problems that creeped up in the 90s.

i mean could they kill the deal? what do you think? steve? >> i think the unions will step aside on this. they have gm putting money into ohio which is a unionized state. so they may not like it, but they will go along with it. what it's amazing is people forget the history of lordstown. that was seen as the poster child of inhuman assembly lines when it was opened in the early 70s. people then were saying it should be closed. it is too inhuman. now everybody is saying we must have it back again. david: to your point, susan, about the reworking and retooling of the workers themselves so to speak, i mean, it's going to be hard no matter how they're retooling, what industry they go, they are not going to get these $30 an hour union wages; right? >> very generous wages, almost $40, 40 to 50 for some of these gm jobs. look, this is a million job gap of those looking for work and work available jobs available and i feel like the u.s. industry and the u.s. industry is waking up to that and maybe

accepting workers who haven't say gotten a college degree. i mean, that's important right now to find the right skills for the right jobs. david: also by the way some very serious questions about workhorse which is the organization that's going to take over this plant is that they had a net loss last year. so far this year they have a net loss. we wish them the best. >> gm may be holding that paper. david: they may go back to it. >> let's not forget the carrier plant where the president announced that he was going to save the jobs and then it turned out not to be true. david: let's not forget 13th straight month of more jobs than job seekers, austin. we have to remember all these things. it's a whole package and ain't a bad package. fox news channel is getting ready to host a live town hall with 2020 hopeful and minnesota democrat senator amy klobuchar just about half hour from now. why what she is saying about capitalism could make headlines tonight. all money managers might seem the same,

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that's gonna be a good one., ♪ (playing) did you know that nationwide has customized small business insurance? huh-uh. maybe that's a song. yeah, maybe. (peyton) did you know nationwide is america's #1 provider of pet insurance, farms, and ranches? now that's a song. yeah, maybe. oh, that's gold right there. did you know that nationwide has an interactive retirement planner? (music stops) are we there yet? ♪ (nationwide jingle) >> 2020 democrat presidential hopeful minnesota senator amy klobuchar will be joining fox news channel tonight 6:30 pm this is a live shot from milwaukee, wisconsin where it's all going down. it would be a live one hour town hall. she will face tough questions from our own as she makes her case for the white house. unlike some of her competitors, she accepts the capitalist label but says the capitol

system needs rebalancing. is she right? steve, you just wrote a piece smacking down all of the successful capitalists who are saying that capitalism is too hard we need something a lot softer. right? >> nothing like a minor marxist. [laughter] but the fact of the matter is rebalancing has to be done not by capitalism. you only succeed in a free market if you meet the needs and wants of other people. and the problems you have with our economy we know what they've been. excessive taxation, excessive regulation. you talk about manufacturing. regulations coming up to $35,000 a job. no wonder we are getting crushed. capitalism, if is a lot to do so, also, is very creative system. you do not get that kind of creativity from government. >> i am sure that you agree. >> i am an economics professor. i do not believe in socialism.

i believe in the market. i think senator klobuchar is an interesting character. i think she will be getting more attention as this rate goes on. i think she's been undervalued i think she's done a lot of interesting work in the last couple of years about let's call this antitrust and assuring there can be entry and there can would not be surprise that is one of the tax she takes talking about capitalism. that we can't set it up so that big corporations can snuff out little guys and get themselves giant to trillion dollar tax cuts and just proceed as everything is hunky-dory. >> i think she is quite the moderate because she does not even medicare for all, she does not believe in free tuition for everybody. at least she is a realist when it comes to spending and i think it's probably the line she will tow tonight. >> in terms of corporations, the best antidote for that is

competitive market.and i remember gm was once a monster, ibm was once a monster. before the early 90s, microsoft was once a monster. all of these companies have a vibrant economy because innovators are always trying to find new and better ways. >> it is only capitalism that is getting ruined by government intervention on both sides of the aisle. that is when capitalism goes wrong. when government starts to mess with it. >> and monopolies. let's not forget that monopoly equals markets failure. [multiple speakers] >> it is all third-party you need for markets. free markets always turn into -- >> all the crises in capitalism that we hear with about, the student loan crisis, most as you pointed out start with

problems with government intervention. right? quickly. >> absolutely. including the great depression. government cause, not free markets. >> we have to leave it at that. just about and a half hour from now on the fox news channel. you will see the klobuchar town hall. that does it for "bulls & bears". thank you so much. we will see you back here next time. >> the stock up and down today at the white house earlier today signaled that china wants to cut a deal. but stocks give back the gains in the final steps. china now threatening to retaliate against tariffs. we will bring you the update on what can happen just 30 hours from now. the battle for 2020.the economy. we will show you new information on how barack obama made joe biden his job training -- according to the obama white house, no job growth, it a ton of tax-free money wasted. we will also show you how insight is in the obama white house had what they called