tv After the Bell FOX Business May 14, 2019 4:00pm-5:00pm EDT
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environment less clean by shifting energy production to foreign countries. so instead of doing this, you would have foreign countries doing that and then shipping it back. i don't think that works out too well, fellows. what do you think? no good? no good right? john says it is no good. that means it is no good. we're focusing the ep aft on the core mission, insuring clean air and crystal clean water for our citizens and our air right now is cleaner than it has ever been. [applause] and one of the things i call to bill and steve and john coming over, we're in the beast. we traveled in the beast. i think it is the world's most expensive army tank, right? the windows, the walls. but they said, sir, we would love to have john kennedy saying whatever you can do, i-10 bridge? you know the i 10 bridge?
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calcsu. i like i-10 much better. can we go by i-10. you've been saying that word your whole lives. me, i just heard it about 20 minutes ago. so the i-10 bridge. i say this i give you this commitment. i can play with these three, steve, john, bill, everybody, sitting here, if we win this election, which is just 16 months away, we're giving you a brand new i-10 bridge. [cheers and applause]
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i didn't know it was going to be that popular. we're going to start work on it right away. i think we're going to win. we want to be prepared. okay? so we'll start work on it right away in terms of planning everything. let's do a beauty, okay? it's a very unsafe bridge. a lot of problems. we've give you a new one. they have been trying to do a new one for a long time. we're planning, we'll start it day one right after the election. [cheers and applause] just last month i signed two executives orders to cut red tape holding back new energy infrastructure like we see here today, without what we've done, could you have never had this approved. i think jeff would say that very easily, without what we did you could have never gotten this done. it would have taken you many years. i say many years prior to rejection. they go years and years. the result of our efforts has been an incredible resurgence of
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the american energy production. this quarter the united states produced record amounts of oil and natural gas. i will tell you, the natural gas, not even close. the oil, not even close. since the election private companies have invested in half a trillion dollars in the u.s. energy industry. they put half a trillion dollars and it looks like it is going substantially up from there. including in this great state where many tremendous projects of all different types are planned. not only in the energy business, in other businesses also. in the past two years, we've expanded our lng exports to the world by nearly 500%. 500%. [applause] it was heading south, folks. it was heading south, folks, fast. the united states is now been a net exporter of natural gas for
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two straight years. our net energy imports are the lowest level that we've had in over 60 years. in other words, bringing it in, the lowest in 60 years. in 2018 american energy exports alone brought down our trade deficit by $215 billion. we're pursuing a vision not just of energy independence, but of american energy dominance. when we get those pipelines approved, you will see it go up 30 and 40% from already number one in the world. [applause] by the end of next year america's lng export capacity will more than double. think of that. but what does it really mean? it means jobs be jobs, jobs. that is what it means. jobs, jobs, jobs. [applause] and thanks to our historic tax cuts and reform, everybody here got tax cut, everybody.
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big one. sempra energy is bringing billions of dollars back home to america, right where it belongs. after years of rebuilding foreign countries we are now rebuilding our country instead. [applause] and we continue to grow the industry of the future. we're training our workers for the jobs of the future. and we're living by two simple rules, buy american and hire american. sounds good. the applause -- [applause] that is why administration started a pledge to american workers. our partners committed to providing eight million training and enhanced opportunities to the american workforce. i'm proud to announce sempra energy just signed a pledge, agreed to train 1000 americans to build our energy future. thank you, jeff, for that.
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we really appreciate it. thank you. [applause] we want every american to know the dignity of work, the pride of a paycheck and the satisfaction of a job well done. we do not believe in socialism, okay? is that all right to say? [cheers and applause] is that okay? we had socialism here, you would have nothing standing. if it was standing from previous generations it would be falling down right now. when we have a soaring economy millions of hard-working people can wake up every day, excited, to use their talents and provide their families, lift up their community and strengthen our country. here with us today are several tremendous workers who want to tell us what america's energy revolution means to them. ronald nunez lost his energy job over 20 years ago back in 2015. a lot longer than 20 years ago.
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i don't know who the hell put that. he lost it, wrong number but right number of years. 20 years. where is my speechwriter? congratulations. thank god i don't read it too often. thanks to our, 20 years, think of that. thanks to our great energy revival, he is now back to work. he is working hard. he is making a lot of money. ronald, please come up. tell your story, please. come. [applause] >> good afternoon, everyone. my name is ronald nunez and i want wanted to tell you about my journey here to cameron lng.
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for over 20 years i worked at a plant just a few miles south of here. and i planned to retire there. and then the news came that, the news came of lack of gas. an energy contracts. [applause] my plant would be shut down. november the 30th, 2015, and, all employees would be terp nated effective immediately. so, with one week's notice, two weeks paycheck in my pocket, i went home and very concerned for my family's future. we didn't have any health insurance. we went, looked for the
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affordable care act which we really couldn't afford. [applause] so i, after several -- [applause] after several months of worry, stress, cameron lng job fair hired me and many of my coworkers. [applause] great benefits. great benefits, great savings plans. great health insurance. thanks to call ron lng and the now growing natural gas industry, my family's future is once again restored. [cheers and applause]
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connell: live coverage on the fox business network. president trump making remarks here in hackberry, louisiana. he is speaking at a liquified natural gas facility. we have been covering it here, in the room. the president talking about job growth, talking about the industry, as they add jobs to that industry. bringing up officials from the growing industry telling their own personal experiences we have a special edition of "after the bell." good to be here from the state of louisiana. i'm connell mcshane. melissa: hi, connell. i'm live from new york. stocks bouncing back on renewed china trade optimism. all three major averages ending the day in the green, rebounding from yesterday's steep selloff. the dow ending up 20points after session highs. tech-heavy nasdaq, is s&p 500 ending higher off yesterday's losses. connell. connell: the president still continues his remarks behind me,
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touting importance of energy independence and touting of jobs, touching a bit with some remarks at least in a round about way on trade. louisiana is one of the hardest hit states, if not the hardest from the trade war going on with china. this industry, this facility, liquified natural gas industry, one of the export industries china is targeting with new round of tariffs. from a 10% tariff to 25% from the first of june. we have a farmer in this area getting hit hard by the tariffs. he will join us live. small business owners this audience behind me who are feeling the economic boom, melissa under president trump. melissa: looking forward to that. back to markets, ending the day on trade. tensions rising between washington and beijing but president trump remaining confident. fox business's edward lawrence is live at the white house with the latest. what is the word from there, edward? reporter: melissa, within the last hou a senior
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administration official tells me they are planning to go to china for more talks at some point. they say both sides want to continue this conversation. president donald trump says we can win in a trade dispute. he says our economy is much larger and in much better shape than the chinese economy. the president offered this tip forinesses to avoid all those tariffs. >> you have no tariffs to pay whatsoever if you're a business. all you have to do is build or make your product in the united states. there is no tariff whatsoever. so that really works out very well. reporter: and in that move, with the supply chain moves could be a permanent shift for the chinese economy something they may be faced with. in china, retaliation tariffs, $60 billion worth of items, june 1st go up from 5% to some cases 10%, 20%, even 25%. many of those items deal with agriculture. now senator chuck grassley says, from iowa says, the farm belt is with the president so far.
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>> farmers want that changed. they are going to stand behind the strong position that the president's taken and i compliment the president because they know that china has to live by the rules of international trade just like the united states and almost all the rest of the world does. reporter: the administration looking at a plan to use some of the tariff money to buy agriculture from u.s. participators to send it as humanitarian aid across the world. china for their part using stronger language. saying they will not succumb to external pressure. saying the u.s. should meet them halfway in the negotiations. for the next round of basically everything else that china imports into the united states there is a public hearing on june 17th. after that public hearing and the report is finished, then the president could basically put everything that china imports into the night under a 25% tariff. back to you guys. melissa: edward, thank you for that. much here to react, liz peek,
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foxnews.com columnist, fox news contributor, and erin gibbs s&p investment advisory service portfolio manager. erin, let me start with you. a bit of a bounceback on not that much news, it makes you think possibly this is where the bottom is and new reality there isn't going to be a deal around the corner. what are your thoughts? >> i'm not entirely sure this is the bottom. feels more like a breather. today when you looked at valuations we were at one of those levels, 16 1/2 forward earnings, where people have come in and consistently bought. it looks more like it is buying, sort of dip buying but if there are renewed concerns about recessions, particularly if the further tariffs go through and we're looking at maybe a quarter of a percent hit to gdp, a really big hit to profits, that can certainly send markets lower. i'm not saying this is the final turning point. it definitely might be a breather. melissa: liz, what about you?
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>> everyone took their pencils out after yesterday's big selloff. there are stocks that will not be very affected by trade wars. domestic stocks primarily. those look pretty attractive at reduced valuations. also the numbers coming out from most analysts what the impact of today's situation is, today's tariffs, on growth in the united states and growth in china is just not that big of a number. so i think there was some opportunistic buying today. i think erin's right, that down the road if we had another big ladling on of tariffs that's a difficult story. melissa: connell? connell: melissa, moving on to another story today, the retail shipping wars. walmart taking on amazon prime members with free next day delivery. of the kristina partsinevelos is live at the new york newsroom with more. >> thank you, connell. a situation where walmart is taking a jab at amazon two weeks
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after amazon announced one-day shipping, walmart will provide next day delivery and you don't need to have a membership. that is a direct jab at amazon. walmart says spend $35 or more online you get the items delivered next day. amazon you need to pay $119 a year in order to get one-day delivery. you say this will cost walmart quite a bit because they ship every single day. according to the company, that is not the case. there was a quote, the president and ceo of walmart e-commerce, contrary what you might think, it will cost us less, not more to deliver the next day because eligible items come from a single fulfillment center closest to the customer. the quote goes on to say they will consolidate and fulfillment centers across the country. they also have 4700 stores. they have a much larger footprint, physical footprint
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from amazon. they believe they can outdo them when it comes to delivery services. however, walmart's e-commerce business has not been profitable thus far of the there is a lot of pressure there. amazon is really ramping up the one-day delivery. they're spending $800 million to lower delivery costs. just yesterday they're expanding a new delivery partner program, encouraging employees to quit jobs at amazon to deliver packages so amazon can bypass fedex and ups. muted reaction in the share prices. roads will really get congested connell. what do you think. melissa: kristina, thank you. liz, i think this is my fault. i probably ordered 10 things on amazon today, two were individual packs of gum. >> shame on you. that wouldn't work with walmart, because you have to buy at least $35 worth of merchandise to get the next day delivery. this is terrific. i'm glad walmart is not rolling over.
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consumers are beginning to weigh the different conveniences if you will. they're also weighing prices. often times walmart is cheaper than amazon. i think what is really impressive though, is that walmart has for years, after all they started this whole magic of the supply chain and being able to dumb down costs for consumers. now they're doing it with deliveries too. i think this is very healthy -- melissa: real quick, erin. do you think, the proposition they made on being able to deliver next day cheap i don't know, when you listen to that explanation it sounds wonderful. i don't know if it sounds like it as doable? >> there are some possibilities. first of all we have to remember amazon does 10 times as much online sales as walmart. the fact that it is not profitable with walmart, they're just getting into the game. being able to take the stores and convert the stores into essentially mini warehouses, then use that to make it closer to the end consumer as they stated most, 95% of the u.s.
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population lives within 10 miles of a walmart store. so if you can leverage the big box space, make it into a warehouse there is certainly a possibility of it. melissa: that is convincing. thanks, guys. connell? connell: melissa as we continue from here in louisiana, i have a feeling the president is just about to wrap up his remarks, we have lot of time we hope to get into say what he had with energy and jobs. moving on to uber. uber as a stock ending in the green today for the first time since it went public. gerri willis on the floor of the new york stock exchange with more on that. reporter: connell, that's right. a good day for the ride-hailing app companies. uber up handily, up 7.7%, its first positive day since its disappointing ipo on friday, still, still not above the offer price of $45. lyft the same experience here, also higher. we're seeing a pretty good bump for the stock as well as you can
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see right here, still not over the offer price. the companies better, struggling a bit, disappointing investors as we wait and watch. bayer, shares hitting intraday low, down dramatically, lowest level in seven years on a two billion dollar jury award to a california couple in that runup weed killer cancer issue. -- roundup weed killer cancer issue. connell: thank you, gerri. melissa: not backing down, former vice president joe biden dismissing china's threat to the u.s. again. what his controversial claim could mean for the democratic candidate in the 2020 race. plus two of congress's loudest democratic socialists are teaming up to take on credit card companies. why "the wall street journal" editorial board is sounding the alarm. we'll talk to james freeman from the "wall street journal." that is next. we're live in louisiana. connell. connell: a lot more to come from here as well, melissa. we'll talk to a local
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businessman who is here at the event with president trump in hackberry, louisiana. he says his company is booming, hiring more people thanks to the president's policies. more to come after a quick break. ♪ without knowing firsthand the unique challenges in that sector. coming out here, seeing the infrastructure firsthand, talking with the people behind the numbers creates a different picture. once i know what a business is truly worth, we can make better informed investment decisions. that's why i go beyond the numbers. ♪ i'm begging you... take gas-x.ed beneath the duvet your tossing and turning isn't restlessness, it's gas! gas-x relieves pressure, bloating and discomfort... fast! so we can all sleep easier tonight.
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melissa: former vice president joe biden yet again downplaying the threat from china during a campaign stop in new hampshire. take a listen. >> what are we doing? we're walking around with our heads down, woe is me. no other nation in the world can catch us, including china. i get criticized for saying that i spent as much time with xi xinping as any world leader has. melissa: this coming a few weeks after the leading 2020 candidate was met with bipartisan backlash for his weak stance on china. james freeman "wall street journal" and fox news contributor. james, i feel like this is a big theme in politics right now. someone says something, they get smacked around for it. they show up an double down on it again. that really seems like it is what joe biden did here. what's your take? >> it's a little odd. the debate in the united states now whether donald trump's strategy putting taxes on imports is the right one to counter china but there is really no debate that trade with china is a problem.
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that they are stealing intellectual property. that our businesses are in the getting a good deal. it's a little odd. i share mr. biden's optimism about america but i think he is sort of asking for this to be brought up later, when you think about, china became the world's second largest economy right about the time he was getting elected vice president. melissa: right. >> economy more than doubled while he was in office. its right around the time he was getting reelected that xi xinping took over the communist party. that was end of reform. i don't know how you couldn't be concerned about what has happened in the country since then. melissa: it is interesting, because it seems like his campaign is going to be, if you loved 2009, we can to right back there. >> yeah. >> like this trump guy never existed. that is really sort of what he is out there trying to sell. and, you know, obviously primary voters like it, because he is way ahead in the polls. how much appeal do you think the message hassles where? >> that is really interesting question.
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you look at the kickoff speech he did, you wonder is his bump in the polls is this just obama nostalgia or commentary on rest of the people in the race but that idea that you can say i'm going to bring back those wonderful days of the 2000s, when lot of people really struggled through a slow growth and slow wage growth economy. i'm not sure there is a whole lot of nos tall ga for that era. that is why we got president trump. melissa: he is banking on it. james, i want to get your take on another topic. senator bernie sanders and congresswoman alexandria ocasio-cortez are proposing capping interest rates on consumer loans of 15%. okay. but then they're pushing for the post office to double as banks. "the wall street journal" editorial board writing quote, sanders and aoc are a credit risk. you don't want them underwriting loans? you don't want the guys at the post office underwriting loans? >> yeah, the limit on interest rates, if they just stuck to that, i think that could be
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popular if misguided plan but i don't know anyone who is going to say, oh, the postal service playing a central role in our economy and bringing that efficiency, that customer service, that underwriting skill, given their huge losses and massive unfunded liabilities, yeah, it is kind of a head-scratcher. melissa: it is amazing. if you look at everything about the post office, it screams economic disaster. yet they want to put all of our economics into the post office. can you imagine going down and standing in line to get a mortgage. you would get to the front, sorry, you didn't look online you needed 45 other forms. now we're going to lunch, we'll talk to you three days from now. it would be just fantastic. >> just the lines. exactly. i think, maybe that is the key to underwriting, so many people just get ticked off and don't want to wait anymore. so they go out the door. you don't have the credit risks. >> there you go. bright side there, james. thank you for that. >> sure. melissa: we're on the ground in louisiana with more from
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♪ connell: we are back here in hackberry, louisiana. president trump just wrapping up his event talking about energy jobs, infrastructure spending, the economy. people came out attended an event -- [inaudible]. local business owners about the local economy. -- [inaudible]. companies feeling a positive impact from the president's policies right here in louisiana. thanks for coming in. >> thanks for having me. connell: what did you think of the event here? >> it was real nice. i've been with one event with
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mike pence, vice president pence in new orleans. this one was very special with donald trump. connell: i met your dad earlier, i should tell your audience. you and your dad are in business together. briefly, what do you guys do? >> part of third generation. we push inland tugboats, barges, chemicals mostly throughout the intracoastal waterway and throughout the mississippi. connell: transporting chemicals around. >> yes. connell: has the economy here getting better? that is the president's case, if so where are you seeing in your business. >> it is getting better here, with all the infrastructure going up. it is helping our industry. lng we don't move this particular product. but other things up the river. billion dollar projects going on. moving other products going inland. connell: like a trickle down type of thing. they spend more, you get more business. have you been hiring people? what is the plan? >> we've been hiring people. in the past year our growth went
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about 20%, 15% in enemployment, growth in assets this past year. we gave 6% increase of wages to our mariners. connell: you did? is this is reason, this is happening, why we're hiring or paying our people more? what is it? >> couple things. tax cuts, huge, huge relationship there. connell: yeah. >> deregulation. cut the red tape of a lot of stuff. just confidence overall. federal reserve confidence. we see it. people are not reluctant to hire contractors. they are not just talking but confident tag things. connell: i ask you question about another subject. we'll have farmer from another part of the state. they have different issues, right? they are hit by the tariffs. so there are questions about the future, whether that confidence will spread or maybe start to wane a little bit. are you worried about that at all, this trade war stuff? >> there is always going to be
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some waivering, some point or way. there is risk all out there. at the end of the day i feel like we have president or administration that is fighting for us. looking to bring jobs here. we're a jones act company. american-made, mesh-made, american owned, america work. when he saying there america, america, gives us great confidence to invest building barges that incost 2 to $5 million per barge to bring them out. connell: thank thank you, matt . your dad is -- joe. >> joe. connell: you're taking over business? >> some people say i might have done it all already. -- connell: matt duvall, one of the people met with the president. back to you in new york. melissa: tesla closing up 2% after announcing a price increase of $400 for all model 3 vehicles.
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a spokesperson we adjust pricing and available options so there. many americans are celebrating the economy under president trump but not all businesses are booming. connell? connell: yeah, we were getting to that at the end of the interview with matt. we have a farmer from a different part of the state coming on in a few minutes to talk about the on going trade war. what it means for his business. that's next. ♪ not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪
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connell: we're back here live in louisiana and, got it tell you, they cleaned out this room pretty quickly. the crowd has filed out. president trump just wrapped up his remarks here, really just a few minutes ago. he visited a state today that is getting hit hard by the trade war with china. so we want to spend some time on that. agriculture is among the top three industries in the state. farmers here are really feeling heat from rising tensions going on between washington and beijing. in fact we're joined on the phone by a farmer just northeast of us in the state of louisiana. he is also vice president at the louisiana farm bureau. so richard, it is good of you to join us today. richard, tell us if you can, a little bit about your business. give us an update how things are going. if you're struggling, tell us
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why you think that is. is it all the tariffs? from what i read there is a lot has to do with the weather. how are things going? >> first off, welcome to louisiana, connell. definitely a pleasure to be here. i got to hear part of your story earlier, it is nice to see all of our congressional leaders there supporting us but as we move into 2019 we, 2018 feels fresh in our minds, the tariffs did impact us. we were not able to harvest the entire crop last year due to the congestion along the river and inventory issues as it relates to flow-through and stockpiles. so we took a pretty good hit but as we move on to 2019, probably the biggest hindrance we're facing right now the weather situation. we got six or seven inches every couple weeks. we're inundated with wet weather. it is really putting a delay in our planting of our soybean crop right now. unfortunately i'm afraid it will
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have a dire impact. connell: i can see that in some of the video. the video by the way we were showing while richard was speaking, drone video he shot at his own farm, gives us an idea what you're dealing with the crop there. the president talked about bailing out the farmers. the word he uses i will take care of the farmers. i know times are tough right now. there was a 12 billion-dollar bailout last year. he talked about something on order of 15 billion this time around. first of all were you helped out last time, will that be a help this time? >> what he did last year, the economic incentive he put in place to offset some of the losses in the market was through the market facilitation program. i'm not sure if that is what he is going to go do this year but unfortunately last year the fact these crops, our in particular went unharvested we were not eligible for any of that market facilitation program as the statute states. it has to be a harvested crop.
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with the perfect storm scenario we had last year, slowed exports, accumulation along the river, delayed harvest, unfortunately our crop deteriorated in the field before we get into the market. combination of these things. some were orrery instated as well. but i'm not sure. the bailout, more economic -- economic fix if you will for some of the price loss we, about 20%. connell: all right. i have one more question, richard. please keep your answers short if you can. it differs by farmer, i'm curious, do you blame the president for the tough time you're going through? >> i don't blame the president. we're taking medicine today to provide a cure for tomorrow. trade agreements are very crucial, very important to our industry. i'm a fourth generation operation. if we have bad trade deals in place unfortunately they might not be a fifth generation opportunity down the road with a
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bad trade deal. connell: richard, we wish all the best. thanks for joining us today. very good insight on the industry. as we continue here, i spoke with a member of the congressional delegation, you may have heard the president reference making his remarks. you will hear what he has to say about all the big issues in the state of louisiana, the big economic issues. he is next. ♪ 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 are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this.
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>> the energy we produce here in our country is better, cheaper, cleaner than our foreign competitors and it's not even close. you people know that better than anybody. it is your business. connell: that was president trump a short time ago here in louisiana. and i spoke to republican congressman ralph abraham who was here for the president's event. he represents louisiana's fifth district. i asked him about what specific policies are fueling the job growth you heard president trump refer to? you heard what the president said. here is what he said. >> the president's policies are working. he has given money back to the people. he let local government take care of local government. connell: deregulation is a thing we hear about a lot as well. to be fair we were talking about it earlier in the day on fox business. some of that started in the
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obama administration with liquified natural gas and crude oil. president trump continued this. how important has that been in terms of adding jobs? you cut regulation at a company, that it is being the key. more important as taxes? >> just as important as taxes for sure. you talk to the people, they were being choked to death with the regulations burden. certainly the tax burden. you put those two together, you up leash the energy sector, that is why we as a country now, we will become energy dominant. connell: national security issue? >> if we control the energy of the world, then for our national security, even for global security, that matters. connell: it makes sense. when you said there is also strikes me. i heard it from a lot of people, almost creates for business a certainty where they kind of know what the playing field is. they know what the rules are, right? >> you have to have the predictability and certainty for them to even do business. connell: the other side, what
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makes me think what is going on in trade. many businesses and farmers, we're not quite sure there. so how much uncertainty is created on the regulation side? >> president campaigned on the trade imbalance certainly with china. i'm glad we finally got a president that will stand firm. our farmers are patriots. connell: they are taking a hit though. >> they understand there will be some short term pain but long-term gain will be worth it. connell: final, what is the red line between short and long term? how long is too long? some of these people are getting pretty hard, right? >> we are getting hard but they understand that, they are willing to take a lick right now. if we don't get this right they have no future. the president has given them a future to look forward to. connell: congressman. thank you. >> thank you very much. melissa: good stuff. socialism is on the rise in the u.s. can we afford the ideas?
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sandra eating up in the democratic party. it appears to be embracing socialism. jerry white his labor editor, world socialist website, the only solution for what he called unsolvable contradictions at the capital assistance and he joins us now. problem is that human nature gets in the way of it. we operate in our own self-interest. how do you prevent that from happening in the socialist model? you don't end up with maduro type dictator who sees the means of production enforces that. how do you stop it before it gets there? >> first of all, the economic reality is that billions of people on this planet will
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actively produce society's wealth, cooperate in productive capacity yet all of the decisions of the allocation of that wealth are made by a tiny handful. >> a dictator at the top was deciding who gets what? it's not any different because you have a couple of people in control deciding what's right for everybody. >> i would urge your watches today to come to the world socialist website, you have an intense amount of material explaining the opposition in this bureaucracy by the fourth international which is what our party traces its roots to. the claim that society cannot afford socialism, the reality is that society in the u.s. and around the world cannot afford capitalist. >> not that they can afford it, how to stop it going to where it
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is in venezuela and places? >> venezuela is not a socialist country, it's capitalist. banking sector is privately owned, corporations like chevron are making a lucrative money there. the crisis in venezuela is part of the collapse of oil prices and of course, the united states is planning to carry out the regime change as well as iran. the fact is, at the end of 1991, when the bureaucracy, which you serve political power from the working-class when it liquidated the soviet union, the claim was all the great issues of history had been resolved. >> okay but -- we only have a couple of seconds left. i don't want to run out of time. how do you keep it from getting there? >> the essential issue is that you cannot solve problems on a
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national basis. the fourth international conducted a struggle against stalin and their reaction in utopia that it was possible to build socialism in a single country. a political revolution, overthrow them and expand the socialism internationally. no country, including the u.s. is completely independent from the world economy. what is seeing now, you are seeing the same. p of the 1930s. great work, u.s. at war against venezuela and iran. >> i just had that one question about how to keep it from getting to that overthrow point. >> the most essential question is that the working class, the vast majority in society work is all over the world from france to the u.s. where the number of workers on strike at the highest level. >> we are out of time. i'm sorry. we appreciate it.
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i was jerry white, up 270 points. final work there. >> i will see you back in new york tomorrow. >> it starts right now. >> what a different today makes. yesterday's speech showoff, stocks hitting session highs, the president says the trade deal with china could absolutely happen. much faster than people think. i'm david, thanks for joining us. joining me today, carol ross, robert wolf, john and mark. the president telling reporters earlier today, american woman in the trade talks. listen. >> they want to make a deal, it could absolutely happen. in the meantime, a lot of money is being made by the u.s. our people want to go
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