melissa: seems so crazy. i can't imagine. connell: yeah, i think i will stick to what we have. thanks for joining us. see what happens tomorrow. almost 400 today. melissa: that does it for us. i will see you at 6:00 p.m. bulls & bears starts now. david: massive antigovernment protests in hong kong shutting down the 8th busiest airport in the world, leaving thousands of passengers stranded. while china says violent clashes with protesters are approaching terrorism and they are warning the u.s. to stay out of it. stocks dropping on wall street as investors fear a u.s. china trade deal will be even further away right now. and take a look at all three of the major averages, ending down more than a percent, with the dow down 391 points. we will have more on this story coming up. but first, a new immigration crackdown in the united states as i.c.e. raids continue. the trump administration signalling they are not backing down on addressing the crisis at the border and the cost of

immigration in every city in the nation. moving forward today with one of their most aggressive steps to restrict access to welfare by legal immigrants. hi everybody. this is bulls & bears. thank you for joining us. i'm david asman. joining me on the panel today. the trump administration announcing new rules today that would effectively deny permanent green cards to legal immigrants who are using welfare benefits, like food stamps, subsidized housing or medicaid. here's acting director of the u.s. citizenship and immigration services ken cucinelli earlier today. listen. >> the president trump administration is reinforcing the ideals of self-sufficiency and personal responsibility. ensuring that immigrants are able to support themselves and become successful here in america. the benefit to taxpayers is a

long-term benefit, seeking to ensure that our immigration system is bringing people to join us as american citizens, with legal permanent residents first, who can stand on their own two feet, who will not be reliant on the welfare system. david: so the administration says they want to make sure new immigrants won't be a burden to our society. critics say this is forcing immigrants to choose between potential path to citizenship and foregoing basic needs. is this the right move? >> absolutely, david. this is something by the way i'm a little personally biased. i work with the white house on this very issue. i'm very pro immigrant and pro immigration, legal immigration, and most immigrants who come into the country pay more in taxes than they use the services, one of the benefits of immigration, but you do have some immigrants who come in to abuse the welfare system, getting food stamps, getting other public housing benefits and so on. we can't allow that. so this would basically say we want people to come, but if

you're going to come, you can't use the welfare system. ken cucinelli was right, this has been the historical norm when we let in immigrants. when they used to come in through ellis island, one of the first things they would have to show is i'm not going to become a public charge, meaning i'm not going on welfare. i think this is good. immigration, yes. welfare, no. >> i think this is consistent with president trump's push for merit-based immigration which by the way the majority, 63% of the people polled by gallup agree that people should be allowed into this country based on education, ability to supply a talent to the country and other sort of means of that sort. yes, this is part of that overall concept. i think it probably is a good idea. it isn't a brand new idea, by the way. it is simply a rule-based kind of definition of how we're looking at people getting green cards. >> here's my concern, first of all, people have been here. immigrants have to be here for

years before they qualify for these programs >> that's not true. that's the problem. >> people don't just show up and begin collecting welfare. >> they do. >> we want people to -- a lot of immigrants that come here. they take the jobs where they pay low wages. we want people to work in our fields and factories and things like that, jobs where they struggling to find people. david: they are called starter jobs. >> we're telling them you have a low paying job, you will be here for years and years, if you get into a six month stretch where you get in trouble and you need food stamps, forget about it, any hope for you is out the door. it sounds a little strict to me. not a lot of money we're saving. >> i don't want the immigrants to come here just to work in fields. i want them to become doctors and lawyers and successful business owners and do great things. i will work for them. this is what is known as means testing. it's happened before. it is going to happen more strict in the future. it should. other countries do it. and the fact that, look, this is

a dollar thing. the president is talking about how much we have to spend on this, and he's just trying to tighten things up. there's been too many incentives for people to act or do the wrong thing in the past, if you incentivize, great, you get great. if you don't incentive great -- if you don't incentivize great, you don't. >> i know david you have a wife who is an immigrant to this country. virtually every immigrant who comes into this country has a sponsor, whether it's the employer or family member. this idea if you are not getting food stamps, you are going to go hungry. they have a network. that's why they have a sponsor. the sponsor should be responsible for the healthcare, and people fall on tough times, they are the safety net for them, not the government. david: we also have a jobs market which is incredible. jack, i would push back a little bit because in this environment, with this jobs market, do you really think that a hard-working immigrant family should be going

on welfare, any kind of welfare? >> i mean, no one has the design of going on it. people come here and they want to work, and if they fall on hard times, they need a safety net to fall back on. they do pay taxes while they are here. so they deserve to be able to participate -- i will just say this. one of the real blessings we have in this country is that so many people want to come here. our birthrate is falling off a cliff right now. david: that's true. >> immigration is what's going to save us from growing old and slipging and becoming -- and shrinking and becoming more. >> let's be clear. people won't be denied those benefits. the issue is when they apply for some sort of legal -- green card in specific, then these benefits will weigh against them. it is not a definite that they will never get a green card. it is something basically to encourage productive people coming into this country. again, most americans think that's the right thing. we should have some standard, not for asylum seekers, but some standard for legal immigration; right? i think that's totally right. >> i also have to mention people

are already coming out with the word heartless and all the other adjectives to describe all this. but i harken back to a tougher barack obama, bill clinton, hilary clinton, chuck schumer, which were for strict immigration and means testing in the past, and somewhere along the line, they may have read a poll or something. we have to change our stance and do this and do that. the fact is, they were all for something like this. this is not heartless. it's being a country, protecting the citizenry, but keeping an opening for anybody to come in who wants to do great things. david: yeah. bill clinton by the way was also for work fair. he was part of the republican congress. he voted with their changes in our whole welfare system. some people say this is an insult to the statue of liberty and that plaque that says give us your tired, your poor. people have to be reminded that back when that plaque was written, there was no welfare in the united states. there were no food stamps.

there wasn't medicaid. there weren't housing supplements like that. people came here with a desire to work and do nothing but work. and yes, the times are tough. it was tough for them, but they persevered through it. most of our ancestors -- >> i must remind there's over 80 welfare programs doling out over a trillion dollars each year. 80 different programs, a trillion dollars each year. yet, we're called heartless and not a great country or generous country? we have the greatest safety net in the history of time at this point in time. >> the worst thing you can do for a new immigrant when they come into the country -- somebody said the new immigrants don't get welfare. yes, they do. the first thing they do is sign them up for all these programs. it is the worst thing you can do for an immigrant. get them a job. get them self-sufficient. they can climb the economic ladder. >> i certainly wouldn't be using language like heartless. people have a right to discuss these issues and decide what they want. i think when it comes to food

stamps, we're talking about $1.50 a meal on average, it is not a big amount of money. they are going after it because it is a hot button election season issue. david: jack, you got the last word on that. the shocking death of jeffrey epstein fuelling questions and conspiracy theories. the u.s. attorney general is now citing what he calls serious irregularities at the jail, where epstein was being held. former fbi assistant director says there are only two possibilities here, and either will be a big embarrassment for the prison and justice department. he joins us, next. >> i was appalled and indeed the whole department was, and frankly angry to learn of the mcc's failure to adequately secure this prisoner. with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big.

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why accept it frompt an incompyour allergy pills?e else. oral combination treatment flonase sensimist. nothing stronger. nothing gentler. nothing lasts longer. flonase sensimist. 24 hour non-drowsy allergy relief all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. david: the death of jeffrey epstein many a manhattan

federal -- in a manhattan federal jail has created outrage and suspicion from prison guards to the justice department. how could he have been left alone with enough time to either kill himself or be killed? hopefully attorney general barr's investigation is going to resolve some of those questions. joining us now is former fbi assistant director. chris, let's start with how his death could have been allowed to happen. who dropped the ball here from your perspective? >> well, someone within mcc and of course the bureau of prisons either made a decision not to watch him or not to give him a cellmate or deliberately looked the other way and gave him room to do himself in. i think it's farfetched that someone went in there, but i think there's a distinct possibility that he was deliberately given the time and the negligence, you know, not watching him, to allow him to

harm himself. >> all i can tell you, by the way, this is gary, i'm sick for these victims of this devil that they are not going to be able to see him in court. i want to ask you about that. what's next for the victims? what's their next move about getting some justice in this situation? hopefully he's in that little place south of us, but i think there needs to be a lot more done here because this is a travesty what just happened. >> agreed. i'm the father of three daughters. i think that original plea deal was sick. of course they are going to have redress against his estate from a civil stand point. i still the federal government, the prosecutors can go after some of the property that was used as part of the sex trafficking ring in a civil forfeiture action. so there's a couple remedies there. i think also -- i think the fbi and inspector general are going

to bear down and really push on with their investigation. i think it's going to intensify. you heard bill barr say today that any co-conspirator should not rest easy and they will be held accountable. i think you are going to see this actually expand in their investigative efforts. >> you use the word deliberate a minute ago. he was deliberately allowed to kill himself, and i just wonder, what gives you the confidence that it was deliberate? that would be extraordinary if someone had done that, and usually if i have a couple of choices, i would start with the thing that's not extraordinary because that's usually what happened. what gives you the confidence that this was a deliberate action? >> no, i just threw that out there as a possibility. i don't think it's the most likely possibility. i think the most likely possibility was simply gross negligence on the part of the under-staffed, overworked and probably under-caring prison guards and staff there. but i do think there is the possibility given the nature of

this case, the underlying case, and the high-profile people there, i think there's an outside chance that he was given the room and the opportunity to do what he did. >> thanks for joining us. let me ask you, the medical examiner has yet to rule on the cause of death after having performed i think the initial autopsy. do you find that strange? >> no. they are trying to gather more information. you need the autopsy obviously in the investigation, but their investigative parameters are pretty limited. i think they are still reaching out and trying to get more information. i wouldn't find anything they say dispositive in this case. this is going to be a pretty extensive investigation, interviews of staff, any electronic media that might be relevant, texting between -- >> but they haven't ruled on the cause of death even though they have performed an awe -- autopsy, and now they said they were going to make an announcement about that last

night and deferred it. i think that seems sort of strange and raises more questions. >> a lot of critical missing facts here, i agree. since they have done the autopsy, you would like to see them have a result. i think they are still trying to gather information. david: a fox news contributor was overseeing that autopsy, so presumably we will be able to hear something about it from him as well. go ahead, steve. >> well, i was just wondering, this allegation that's been made that this was some kind of assisted suicide by people within the prison system, is that really plausible? would that be potentially someone had a pay-off to assist in this? i mean i know you're saying that this happened, but do those kinds of things happen where there's some kind of outside assistance for someone to kill themselves in prison? >> yeah, i mean, and i guarantee you, that the fbi is looking into that possibility. it's a ground ball you have to run out. it's -- you know, it is a remote

possibility. but i think it's there because of the nature of the case, the underlying case, the high-profile individuals. some of those documents that were dropped earlier have implicated -- possibly implicated some pretty high-profile people. so there's a lot of people that would have an incentive, if he were to flip, they would be -- they would be in the crosshairs of the prosecutors. co-conspirators that are very much in the crosshairs. david: we only have about 20 seconds. the document that came out on friday, first of all, the timing was suspicious with his death. but the individuals who were named in that document, some top officials and one was a former governor. another was a cabinet official, etc. will they now be investigated by the justice department as a part of the investigation of epstein? >> i think they will have to talk to them or at least attempt to try to talk to them.

they i took bill barr at his word that he's going to make sure the fbi and ig conduct a very thorough investigation. i believe they will. david: he looked very upset. he wasn't putting anything on in that. that was the real thing. >> no. david: chris, thank you for being here. protests shutting down an airport in hong kong. the dow closing down almost 400 points. more on that, coming up. 2020 hopeful elizabeth warren getting support for her wealth tax at the iowa state fair. not everybody is a fan. one democrat billionaire is calling her out. he did it just minutes after she appeared on the same stage. listen. hmm. exactly.

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david: it's 2%, folks. 2020 candidate senator elizabeth warren getting chants in in support of her 2% wealth tax, but not every democrat is on board. billionaire and former new york city mayor michael bloomberg calling warren out for attacks on the 1 percent minutes after she left the same stage. listen. >> i just said to senator warren on the way out, senator, congratulations, it's a nice talk, but just want to remind you, if my company hadn't been successful, we wouldn't be here today. so enough with this. david: great point. do you think his message will resonate with liz warren? >> i don't think it will resonate with liz warren.

the 2 cents she keeps talking about makes it for a great sound bite, that amounts to 2.7 trillion dollars over ten years. so it's a lot more than 2 cents, mrs. warren. look, bloomberg is not running because he feels so alienated from what the democrats are now talking about, and it's a capitalist enterprise system that they are attacking, and the fact that elizabeth warren continues to describe herself as a capitalist, even as she wants to undo every single significant industry in this country is offensive. it offends bloomberg. i think it offends a lot of voters. >> it is a sad day in america when michael bloomberg is too conservative. >> i know. >> for the democratic party. look, what i'm hearing from the democrats, not just liz warren, i have watched a lot of the debates so far, and they are heart breaking actually. the democrats have no economic message, david. it's all basically we're going to tax people. we're going to spend a lot of money. we're going to redistribute income. we're going to give people stuff

for free. that's not an economic message. that's not the united states of america. i'm still waiting after 20 hours of listening to democrat debates for one good idea that would help the growth rate and the workers of america. i haven't heard one yet. >> well, i'm not sure i would agree with that. listen, the democrats are going to lose in 2020 not because they don't have ideas because they can't stop sounding joyless -- [laughter] >> i have to tell you about this 2 cents or 2%, whatever you want to call it, it is a bad idea. you need a whole new bureaucracy to make this work. it polls well. it polls a lot better than raising the rates higher on very high incomes. >> polls where? havana? >> polls great among democrats and not so badly among republicans. >> not just 2 percent. it is 2 percent every year. so in ten years, they are taking 20 percent of the wealth after

already being taxed when the income came in. this self-proclaimed capitalist is making bernie sanders sound like ronald reagan right now. there has not been a tax hike she doesn't like. it is amazing to watch that every industry she's going after. this week it is teleco she wants to break up, technology she wants to break up, bank, insurance, healthcare, you name it. i don't know where this woman is coming from. it is so depressing when you see them up on the stage, not one thing about people and earning money. it is all about people and going after their wallets. it is almost laughable at this time. they are just handing a win to donald trump come next november. david: an important thing that has to be pointed out, a wealth tax is not an income tax. it is not a property tax. it is a confiscation tax. it is taking from you private property on which you have already paid your taxes. this is unconstitutional. it is a whole new way of taxing

in america, and when you ask that question, whether you'd be in favor of a confiscation tax, i think the answers would be very deferent. -- very different. >> the 2 percent is misleading. it is 2 percent one year. then 2 percent again. then 2 percent again on the same wealth. over ten years, it's more like 25 or 30 percent tax. that's worth repeating. >> even when the new york times when they di skreeb -- when they described this tax, other countries have implemented such a tax and have abandoned it because it doesn't work. it is an unbelievable complicated thing. >> about the kind of stuff that wealthy people own in this world and how you figure out what it is worth at any moment. >> let me add one more thing, she also has a tax that if these wealthy people want to leave the country, there's a huge tax. she is holding the wealthy people hostage if they want to

move. what about we the people. it is we the elizabeth warren. >> it sounds like she's not winning you over. [laughter] >> she can't count on your vote? >> a berlin wall; right? you can't get out. david: we will see if it goes any further than that. we have a huge show for you tomorrow on bulls & bears. we will be speaking with not one, but two 2020 presidential candidates, during the hour. kicking it off first with new york city mayor bill de blasio, followed by former maryland congressman john delaney. we will be asking them about the issues that matter most to you and your wallet. go to our twitter page at bulls bears fbn and tell us what you would like to ask. you may hear your question on the air tomorrow. we're excited about that. chinese officials with some tough talk for hong kong after protesters shutting down the city's busiest airport. what happens if beijing steps in with troops? we will ask former trump administration senior advisor,

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david: wall street rocked by hong kong protests are shutting down the 8th busiest airport in the world. hong kong international airport is due to reopen 30 minutes from now, but the reverberations of this defiant act will have long-term consequences. already china seems to be setting the stage for more

bloody pushbacks by labelling the protests as terrorists and directed by the united states. let's bring in national interest senior fellow who just returned from hong kong. christian, the big question for the moment is when or if the chinese bring in troops from the mainland to put down the protests. what are you hearing about that? >> david, there are some ominous signs, especially calling recent activities terrorist activities despite the fact that the overwhelming majority of protests are very peaceful, come from a broad walk of hong kong life, bankers, civil servants, airline pilots, people like that. you know, i think more likely than a pla invasion, an invasion by the people's liberation army might be some sort of hybrid invasion by civilian police or the psb. they have been large scale exercises across the border. they say these are exercises to get ready for the 70th anniversary of the chinese communist party and the peoples republic of china, this october. i'm not sure why you need that many cops for an anniversary like that.

that could be grounds for moving into hong kong. >> hi, christian. i wonder if you can tell me about the protests about the leadership layer, if there is one, if that's something that's been changed. i mean, i don't really hear from a group that's laying out demands and how you can find a peaceful resolution here. is any kind of leadership starting to emerge among these protesters? >> yeah, there is the beginning of that. it is fairly diffuse and sort of the vanguard of the movement are student leaders and protesters, but it goes very bad after that. it's much broader, for example, than the 2014 umbrella movement. the demand so far have focused on completely eliminating and removing from any consideration the extradition bill that started this all. but i think you will see more coalescing around the idea of a dialogue on democracy, some sort of path forward. they are also calling for the removal of the chief executive carrie lam. it might be better to have a

weak incompetent executive than someone new. >> what do you think has to happen i mean on a negative way where we talk a little bit louder than i don't know about getting physically involved but at least with voice? >> gary, i think president trump wants to preserve an ability to have a discussion with xi jinping and leave the door open on a trade deal, even though china seems completely unwilling to walk through that door. if you look at statements from vice president pence, in particular secretary pompeo who sort of vociferously criticized china and the hong kong government for putting personal details of one of our diplomats out there. this diplomat was doing her job in just reaching out to people involved in this protest movement, having an open door. i think these things are linked. i think this protest movement goes to china's inability to

keep its promises, its promises to respect autonomy, relative autonomy in hong kong, to have a path toward universal suffrage, all of which china agreed to. i would like to see the administration talk about this a bit more, but they have been doing that some. >> christian, it is liz peek. it seems to me a big difference between this protest and what happened prior to tiananmen square is the people of hong kong are fully connected. they have the news. they have the internet. there's no way beijing can really promote propaganda in hong kong; correct? i mean, i think the question is, how successful are they relaying back to china what's going on in hong kong? do the people in china what's going on? are they going to be sold a bill of goods if the chinese attack these protesters? are they going to believe it was in deference to a terrorist -- in anticipation of terrorism? >> liz, that's a great point. and i think you are right there, which is that the propaganda and the sort of the complete information control that china

could rely on in 1989, 30 years ago in tiananmen just doesn't exist anymore, and frankly i think beijing thinks they can blow through this like the 2014 umbrella movements and that's not going to work either. hong kong despite erosion of freedom from china, china can't help itself from agreeing to its own exitment -- commitment are fully a ware of what's going on. some on the mainland think hong kong is a spoiled child, that they get more freedom and prosperity than they get on the mainland. you will see that people there want what hong kong is fighting for. it makes sense for them to get it. it percolates in the mainland. it is a huge political problem for xi jinping, this guy who is supposed to be a strong man is looking weak and clueless. david: i want to switch gears to russia. putin is dealing with 50,000

demonstrators in moscow, asking for very much the same thing the hong kong protesters are, kind of america-like freedom, both freedom in the economy and freedom in their political system and the freedom to vote for somebody other than vladimir putin. where do you think that goes? >> yeah, i think you have a thriving dissent movement in russia, and it's just a reminder that putin doesn't have the complete control and power that we think. it's also a reminder these strong men -- it just happened to erdogan in turkey, make mistakes. often they are their own worst enemies. instead of allowing a little bit of a nod towards plural politics, they don't have that. russia of course is also wasting money on crazy things like nuclear powered rockets one of which just malfunctioned. there's dissent there. david: we have to leave it at that. thank you for being here. christian, glad you are home. a way of upholding a system of oppression. professor richard wolf says it

is. he will make the case, coming next. ♪ all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. ♪ ♪ ♪ ♪

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david: should we be abolishing grades in school? professor richard wolf says yes, we should. why? because grades promote meritocracy and upholds capitalism. in an article, wolf argues grading has little pay off for students. he joins us now. how does removing grades help better prepare students for the real which is right now a capitalist world? >> i think most employers know as most students do that each

person has unique, has ways of learning, thinking and contributing. giving them a single grade b at the end of a semester like you've had a piece of written work doesn't get at any of that. it is a bad index. employers have discovered like all of us have discovered over the years that hiring people on that basis is a very mixed bag but they haven't drawn the conclusion if you want to know what the capabilities of a person are, you have to spend some time, you have to spend some effort, you have to have some interactions with the person to see what their skills are, not to give them some little exercise and throw a letter at them. it's a short cut that does not work. >> i don't doyce -- i don't disagree with what you just said. let's face it, grades are a motivational factor for kids. if i came home with a d or f, i would get beaten by my dad.

don't you think getting rid of grades will demotivate at least some kids? >> no, because i think what has happened over the years is people act to get the grade. they please the teacher. they repeat the teacher. they mimic the teacher. they have developed strategies because we're smart as people to get that grade, which is a very different exercise from learning what has to be learned about yourself and the topic you're studying. >> it seemed to me here -- >> there's one thing, you're talking about math or things that are concrete sciences, i mean there's a right or wrong answer. you know, so with respect to grades for those kinds of things, you wouldn't be opposed to that, would you? >> i would. albert einstein told the famous story, he got very bad grades. what did it prove? he wasn't the kind of student who did what the teacher wanted. but if the time had been taken and the effort had been taken with him as with the rest of us, they would have discovered that a genius in there, maybe thinks about it in a different way, maybe has a particular approach.

those things have to be found if people are going to be as contributing to society as they want to be and that society wants its people to be. it's self-destructive to do the short cut of the grade system that we have come to rely on. >> i need to pick you up on that because instead of the short cut of the grade, i presume you would expect the professor or the teacher to give a lengthy evaluation of the person. correct? >> uh-huh. >> or there will have to be something at the end of the semester which would show the quality of the work. what you are saying is that professor can do that but he can't translate that into a grade, and more importantly, do you really think that most employers depend on a single letter grade to assess a candidate because i can guarantee you as someone who has hired people in the past, that is not what happens. >> no, the grade is part of what the story is that -- >> exactly. it is part of the story. >> but more and more objective efforts have been relying on a score or a grade, in number terms or letter terms, so the

easy cheap kind of way of going is to go with that grade, rather than to do the hard work, which if you believe in education, i'm a professor, so i do, it's something that requires a lot of effort and intensity and time -- >> teachers are putting in exactly that effort to come up with the single grade. my only point is if in fact you're a talented teacher and you assess all these different things that goes into a student's work, you can still ascribe a grade to that at any rate. >> look, i'm sorry if i'm going to a doctor, i need to get help with a doctor, i'm interested to going to somebody who went to a great school and got a's, not b pluses, i will not let him do surgery on me. when i talk to my kids, when they went to school, i told them reach for stars, don't reach for mediocrity. it seems to me not having grades, you put yourself in with everybody else. in the university of florida you need a 4.0 to get in right now. kids are striving to be great. when they become great, they get much more money when they go out

into the real world. so i don't know where this is coming from. i respect all professors, but for me, striving for greatness is what makes this country great or any other country great out there. and grades are part of the system. >> right, grades are part of the system, and that's the problem. the striving you are talking about for greatness i believe in. that's why i want a better and a richer educational system. striving for grades is not the same thing as striving for greatness. if you rely on the person who got the high grades and went to the fancy schools, you're making precisely the dependence on something that isn't a good measure of what they are capable of and how much genius you want to be there when you have a surgery or you do anything. >> i thought this was going to go down like the guy who shows up at the biker bar and tips over all the bikes and everybody comes out angry. this is something that seems designed for this group to hate. i'm not hearing -- liz, go on the attack here. david: one thing i do want to say, professor, you say the

grades are capitalism in action. >> right. david: as if there's something wrong with capitalism in action. of course you have a socialist point of view. but i went back and looked at the education systems of a lot of socialist nations, including the old soviet union, they had a five point grade system, a very strict, much more rigid than the system we have. here in america, you can choose, if you don't want grades, you can go to hampshire college or someplace like that. if you do, you go to -- what's wrong with choice? we have choice in the united states. isn't that a good thing? >> i love the example. the soviet union, eastern europe, they did strict grading. david: absolutely. >> that's why i'm against it. david: my point is incentives matter here. incentives matter even in communist countries. >> incentives matter everywhere, but what grades have to do with them is the question at issue. let me address why it's important. david: quickly. >> if you don't have a job, if a job you have is hateful, either

you blame the system that doesn't provide the good fit between what the society needs and what the person can do and want, or you don't. in our society we put people out of work, we give them a bad job, and then they blame themselves -- david: or they have a bad job that becomes a better job because the job situation is so good. gary, i hear you want to get in. at least we got you to say incentives matter. that's an important distinction. we have to leave it at that. professor, thank you for being here. "the hunt" is being called off, amid growing backlash. will hollywood take note? liberty mutual customizes your car insurance,

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david: universal is now scrapping plans to release its highly-controversial film "the hunt". the movie featuring a group of

elites paying to go to a private island to hunt down deplorables. they used that word. the studio saying quote they understand now is not the time to release the film, which they describe as, quote, a satirical political thriller. will this send a message to all of hollywood? >> it will be a hiccup in terms of message to hollywood. in this case, they bowed to public sentiment which said it was incredible hypocrisy to yell about gun control and have this incredibly bloodthirsty horrible movie. i say hurray, bulls & bears were on it. we were responsible for them taking it down. good for us. >> hollywood is full of moral degenerates. this is certainly an example of that. they should not be delayed. they should burn the film and nobody should see people shooting each other for sport. >> it is horror. >> imagine a movie where a bunch of righties were shooting down obama voters.

the good news is they realized how nuts this was. the other good news is there were a lot of other movie companies that turned this thing down weeks in advance. a start. hopefully they get it going forward. >> i'm going to see "toy story 4" again. [laughter] david: at the risk of defending the indefensible here, remember the movie the dangerous games based on a novel, it was basically the same thing, it didn't have politically overtones this did. >> that's the point; right? this was a political message. it was basically in period where divisiveness is so intense right now and there is so much anger out there. it was just pouring fuel on the fire. it really was. that's a left wing talking point, but it is true. david: i guess there's a time and place. this was neither the time nor the place. one university had such a big beef with a menu item on campus. they are banning that menu item entirely, but it's the reason why they're doing it that's raising some eyebrows. you want to hear about this,

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david: forget about meatless mondays. one university is cancelling beef all together. goldssmith university of london planning to ban sales of all beef products next month on campus as they attempt to become carbon neutral by 2025. could we see the same thing here in the u.s.? >> i will just keep this -- and ask the question, what is going on out there? you mean, no burgers is going to save the earth? no steak is going to save the earth? i don't think so. i don't know where these -- what room do they go into to try and figure these things out? what's next? skittles? i just don't know where to go with this. >>i mean, i'm all for trying

things to cut my carbon footprint on my own, but don't turn me into a beef smuggler at this point in my life. i will smuggle meat if forced to do it. please don't make that happen. >> we used to make this point, david, that hey it is not fossil fuels. it is cows that are causing the pollution. now they want to abolish cows. david: extraordinary. >> going vegetarian only cut an individual's emissions by 2%, and 84% of people who try and go vegetarian basically recant the following year, so i think this is an incredibly dumb policy. david: jack, you were telling us, extraordinary thing is now they are against organic farming, something that is very healthy in most people's minds because it uses waste from animals, rather than artificial substitutes. >> i have had people -- i have had executives come to barron's and talk to me about saying, organic farming, people don't understand it, using more the early, uses more water, it is worse for --

david: pesticides and chemicals that cause cancer, that's better? >> there's a debate out there. david: that does it for bulls & bears. tomorrow we have two presidential candidates coming to bulls & bears. you don't want to miss that. we will see you then. >> stocks in sell off mode on new and escalating fears that a trade war with china could potentially lead to a global recession. on the ground at the big board, stocks sharply low, but off session lows. and on the ground in hong kong, flights are set to restart at one of the world's busiest airports at this very moment, after thousands of pro democracy demonstrators shut it down earlier today. this after antigovernment protests turn even more violent, with riot police firing tear gas at protesters in the subway yesterday. president trump, he's in new jersey, but today's administration unveiled new rules that could make it easier to block gre