[laughter] jeff: i don't know, what can i say. melissa: jeff flock, thank you so much. i like it. connell: thanks for joining us, we appreciate it. ♪ ♪ >> even i recognize, taylor swift, big news on taylor swift, public feud with her former record label over her right to play her older songs has now become nuclear, why it's become a 2020 fight as well, hi, everybody, this is bulls and bears i'm david asman, jonathan and kristina partsinevelos; liz peek, taylor swift has a bigger

squad, 2020 hopeful elizabeth warren vocalizing her support for the pop singer's battle with former record label, swift has been cleared to perform older music at the american music awards, that's this sunday but warren has used the bad blood to slam all private equity firms, let's go straight to grady who has been all over the story for us, grady. >> hey, david, you took all my taylor swift song intros there. it was sold earlier this year the carlisle group, senator elizabeth warren apparently is with swift chiming in on this, taylor swift's work is being threatened by private-equity firm, they are costing jobs and crushing entire industries and says it's time to rein them in.

alexandria ocasio-cortez chiming in as well, predatory practices actively hurt millions of americans, leverage buyouts have destroyed the lives of retail workers across the country scrapping 1 plus million jobs, in this case the private equity firm involved the carlisle group isn't commenting but worth noting the data from the advocacy group for the private equity industry, almost 9 million americans work for companies that are backed or owned by private equity firms and private equity supports more than 26 million jobs, not to mention all of the public pensions that have been pouring money into the private-equity firms because of the returns they get from them. last the latest here, the dispute is not over but taylor swift will be able to perform pop music has apparently become political. >> everything has become political. elizabeth warren initially weighing in on taylor swift's

battle over the weekend, tweeting out this, unfortunately taylor swift is one of many whose work has been threatened by private equity firm, they are gobbling more and more of our economy, crashes entire industries, it's time to rein in equity firms and i have a plan, i bet she does. >> first, let's define what private equity is, sounds kind of scary, private equity is individuals and institutions making investments, in this case investing in taylor swift old intellectual property. she had a chance to buy music and masters and others private equity backed the company invested for their profit, but david, private equity should be defended. what do they do? invest in businesses, help them grow, restructure and expand, i have to tell you, elizabeth warren she loves public equity,

she loves taxpayers investing in corporations but she has a problem with private equity, private investors making the same investments for their bottom line. >> the confusing part for me on the story is the fact that she's arguing against private equity and leverage buyouts that you get in order to take over the companies and boggle down the debt, but according to press release in this particular situation, they used equity not debt to buy up her songs and all that. so that argument aside you ignore the celebrity, because i hate talking about taylor swift. you have studies that have come out and i'm going to focus that it could increase prices, you do sometimes overlook -- overload companies with debts but the benefits like jonathan mentioned, you're not using taxpayer dollars and focus on public pensions, should elizabeth warren come through this type of regulation,

downstream effect on american public pensions because so many are heavily invested in private equity but that raises the question, should they be so high invested in public equity and maybe stick with index funds. >> kristina, yes, they should, that's where the returns have been over last 10 or 20 years, the best returns not people invested in common stocks or bonds but rather people invest in private equity, by the way that in essence creates the seeds of this industry becoming less important because as you have more money flowing into private equity over the last 15 years i'd say or 10 years, it's become harder and harder for them to achieve the above average yields. the industry is under little pressure, may i say two things, one, to make taylor swift a 400 million-dollar pop star, poster child victim of private equity injustice is beyond ludicrous.

i'm sorry. secondly, back in the 90's, elizabeth warren little known fact with fact was a corporate lawyer, who did he request, ltv and defended them against having to provide retired coal miners pension benefits, she has been on the wrong side of the issue on the past. >> they might be hypocrites? >> i couldn't resist. >> you raise the issue of private equity companies buying corporations and leveraging up. moodies did a study, that's the rub, they screw companies, they lay off all the workers. david: gordon -- >> private e equity backed company layoff employees in less prevalent rate than nonequity backed company.

elizabeth warren is against private ownership, that's the american way and that's why she hates for profit -- >> you're totally on the mark here. we should remember by the way, a lot of those studies really focus on small to mid-size companies previous toking from private equity ownership, to me that's where private equity is at its best. they can't find its way to dealing with overseas markets, they provide the managing help to do that and tremendous of that company's profitability, be aware, when elizabeth warren talks about all of the retail companies assort of, again, the poster children for companies that have been hurt by private equity investment, retail is in the tank, folks, i mean, everybody in the retail business has had a very hard time and it's not because of private equity, it's because of amazon and online shopping. >> to make this more of a bipartisan argument, tomorrow we will have a hearing on this, listening on this -- title of

the hearing from house financial committee america for sale and they will be focusing on the private equity practices which i think we may well just dig into it, whether you like it or not, we may understand a little more, like jonathan mentioned the study of people -- i know there's a lot of layoffs but at the same time they hire people, so what's the balance right there and what does it mean to americans that are about to retire. >> we don't need a study to see that private investment is good, private investment is beneficial. all the high-tech companies now that we enjoy, twitter, facebook, uber, how did they start? private equity, making those investments benefit all -- david jonathan, hold on a second, steve moore has sneaked into the room, thank you for making it, i can see your red face, you've been running to the studio. business warren says, i'm quoting, gobbling more of our

economy, what does that even mean? >> let me first say i'm in favor of taylor swift playing her old songs over the new songs, i love the old songs. [laughter] >> one example, i'm on the board of 3 start-up companies right now, you know what we would love? if a private equity company came in -- david: there you go. by the way, 300 million-dollar price tag, that's how much carlisle leveraged to buy into this. >> the oxygen for -- also companies that are struggling, they come in and provide the capital, it's hard to say how anybody would be against this. david: gobbling up the economy, you wonder what economy she's talking about, taking money away from the government or -- >> she spoke on behalf of other artists. david: are they the victim here, though? >> sounds like someone's rights are being violated here. taylor swift is fine on dotted line, whatever the deal is here

and as i said has the right to buy masters, she passed. don't blame private equity. >> it ain't so easy to pick winners out there. a lot of times companies -- i like to see elizabeth warren -- [laughter] david: moving on house democrats are now looking to investigate something president did during the mueller probe, remember that? why are they circling back on that and what that could mean for the impeachment process, we will be asking former assistant u.s. attorney andy mccarthy, he knows it all, he will be joining us next.

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fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. david: more winning on wall street, brand-new record high, steve giving thumbs up for second day in a row, first back to back record close for the dow, s&p and nasdaq since july 15th. stocks climbing even as reports that house democrats are now investigating whether president trump lied to special council robert mueller in written answers he provided during russia probe, here now former

assistant u.s. attorney andy mccarthy, investors are grasping at straws here because they don't have a strong case, are they right? >> well, i think everybody thinks that, david, i watched some of the sunday shows over the weekend and it was funny, they'd have a panel that would talk about the impeachment case and then they'd have a commercial and the same panel would come back and ask about the democratic primary and what everybody talked about in connection with that was, they needed a candidate who would be able to beat trump because he's going to be very formidable in the ultimate election, so if anyone really thought that trump was going to be removed and impeached, i don't think that's the conversation we would be having. >> my presumption from day one has been that the house will definitely, definitely vote to impeach, so, i guess one question is do they really need to go far field and follow another case, another accusation

when in fact, the longer they put this off the more 6 senators run forking the democratic primary -- running for the democratic primary will be held up in senate trial, this is terrible for the democratic party. >> yeah, well, i think, liz that they don't think that once it gets over to the senate they'll be able to very influential as far as the schedule is concerned. >> sure. >> to begin with, but the second thing and the thick that i've thought it's most important is this is pretextual impeachment in the sense that they never thought that they had any chance of removing president trump. >> right. >> what this has always been about since the beginning is trying to render him unelectable by the time we get to the stretch run of the election next year. so all of this is about narrative building, so now it's going to be, you know, he doesn't tell the truth to mueller, he's running the state department into the ground and exploiting his powers to, you

know, at the timer his own nest politically, et cetera, all it is it's about a narrative for the next election, they don't really think that they have a chance actually to remove him or that they have anything that's worthy of a serious consideration about removing him. >> hi, andy, steve moore here, i've had smoke coming out out of my ears, the prosecutorial misconduct in the investigations, i have 2 or 3 good friends that almost have had their lives ruin by prosecutors and accusations, spend millions of dollars against you, people who have almost been bankrupted, we saw this on this weekend with roger stone, roger was -- it was a perjury trap basically, he basically, they were accusing him of perjury, something that was inmaterial to anything and i wonder, what can be done, andy, to rein in prosecutors that are

ruining people's lives and abusing their power? >> well, you know, if we don't hold people accountable when they do this kind of stuff, steve, and we toll rare -- tolerate two-tier of justice, they don't do serious probe, they lie and withhold investigation, justice department decides going in that nobody is actually going to be prosecuted so if you're in that bucket you're fine, if you're a political enemy or political adversary you get treated like the policy that we have seen in this investigation. i don't think people are going to want to tolerate that but the thing is if congress doesn't hold people accountable for this, then it's going to continue, that's the reason we have it in the first place.

>> couldn't the president literally end -- the famous thing, the buck stops here, he promised to release taxes, he has not and teased testify in mueller case and he did not, couldn't he end by being honest and putting the matter to bed? >> you want -- if you want him to testify, i think, the important thing would be that it has to be in something other than a kangaroo kind of proceeding. you have to testify honestly, let's remember, jonathan, this is not a judicial court, this is not a situation where the president would be walking in with impartial judge on the bench who isn't going to let the other side ask all kind of loaded questions and run away with the proceeding so that it's not conducted under the normal rules. this is a highly partisan proceeding and as partisan proceeding as i have ever seen

because they have cut off the ability of the other side to call witnesses, to use subpoenas, to compel the production of information that might be helpful to -- to make sure that the whistleblower who started the whole thing is not revealed and no question even touches on him can be asked, so if i were the president, i would not dignify this -- >> right. >> by offering to testify in it because it only seems to legitimize it, you don't want to volunteer to testify on something that isn't a fair and legitimate proceeding. >> i was going to add on just the fact that jonathan brought it up, you have roger stone possibly introducing information that the president may have lied, may not have lied and the questions that have come up, there's no way the president's lawyers would let him testify even though it would be highly entertaining and give us to speak about, but my question to you, andy, this is taking on the other side and democrats talking about the fact that there's 6

associates that have been associated with criminal activity, paul manafort, michael cohen, isn't that questionable in some way to you? >> well, it's questionable except, you know, as i pointed out throughout mueller's investigation, he indicted a lot of russians and indicted a lot of trump people but the trump people had nothing to do with the russians and the russians had nothing to the with the trump people. >> so many people lying. >> well, and look, i'm not endorsing lying, i think, you know, people -- when you conduct an investigation, people have to be truthful because we are lucky enough to be in a country where the fifth amendment allows us to tell the investigators, we don't have to talk to them at all but i think the government always also has an obligation to conduct equal justice across the board and it can't be that there's one standard of prosecution and investigation for democrats and a different one for trump.

david: right, it's a very strange process, andy mccarthy, appreciate it. >> thank you. david: hong kong on the brink, china makes a move critics say is ominous warning of what's to come, we will have the very latest coming up next.

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during xfinity mobile beyond black friday. that's simple. easy. awesome. click, call or visit a store today. >> the united states is gravely concerned by the unrest and violence in hong kong including the standoff between protestors and police at hong kong university and other campuses, chinese communist party must honor promises to hong kong people who only want freedoms and liberties that they have

been promised. david: mike pompeo speaking earlier today as hong kong police stormed university campus threatening live rounds over the week, greg palcock. >> strong images all day, in fact, now tuesday morning in hong kong and the tense standoff between protestors and police continues at a university there. the latest word we are getting we are seeing, that several hundred remain hold up in the university, the police are surrounding the police, it's mostly scrimmages on the edges, police using teargas, in some cases live ammunition, protestors fighting back with bricks, arrows, catapults, some of the injured were let out and others fled through the night, hong kong itself has hit been as well, thousands hitting to the streets monday and into monday night, businesses, schools,

roadway, rail lines affected, hundreds more were arrested and injured in the last 24 hours, all 4500 protestors since riots back 5 months ago, aimed at getting more democracy for the chinese territory on the part of the protestors anyway but the results, well, a hardening battle, we heard a little bit from secretary pompeo a short while ago, he says hong kong government must take clear steps to address the public concerns there, one chinese official, however, said on monday there's no room for compromise, another noting that chinese soldiers who are stationed in hong kong are ready to sovereignty of china and hong kong, one final note, david, on sunday schedule, very important local elections, halfway move to democracy might tend to calm things down but we

are hearing from leading official in hong kong, he said maybe that vote is not going to happen, maybe more trouble. david: unbelievable, we wish them the best, so gang, what happens to congress -- hong kong? >> according to hong kong law you need to request the presence of soldiers, it could be a bad sign that china will intervene, he said the elections, canceled, that's, of course, unfortunately going to create even more havoc, look at the visuals that we are seeing on the screen, arrows. >> yeah, yeah, you think about hong kong was literally a fishing village just 70 years ago, what prompted to become so wealthy was the institution of basic capitalism, the british came along, they instituted property rights and rule of law, that's what gave hong kong tremendous success more sky scrapeers than new york,

unfortunately the communist chinese, david, reversing the trend and more the more authoritarian they get, the less wealthy hong kong -- david: china does seem to understand that crack-down where you have dozens or even thousands dead would be terrible for china itself. >> terrible in many respects but certainly one of them is about 3% of their economy, i mean, hong kong is on the 3% of china's size economy but great portion of direct investment from overseas into china goes through hong kong, they're legitimacy as a money center depends on hong kong, so the stakes here are very, very high for mainland china, unfortunately that leads me to think that they have to crack down because even without that crack-down money is fleeing hong kong, losing its place in the global financial order, i don't know how china really walks away from this. >> the big question for the last 25 years is will hong kong take over china or china take over

hong kong, right now it looks like it's going in the wrong direction. david: does, indeed, fedex blasting "the new york times" over expose claiming the company paid zero dollars in taxes, steve moore spoke to ceo fred smith this afternoon, he has the inside scoop on how he is firing back and steve will tell us what's going on. i am alfa romeo.

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(people talking) for every dollar you spend at a small business, an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th. david: feddism ceo and founder fred smith challenging "the new

york times" to public debate after he says they published a, quote, distorted and factual incorrect story about the company and tax payments, discovered fedex paid 0 federal taxes in 2018 in defense fedex says, quote, they invested billions in capital items eligible for accelerated depreciation and made large contributions to our employed pension plans, the factors are temporarily lowered federal income tax which was the law's intention to help grow gdp, create jobs and increase wages, so is there anything wrong with fedex taking advantage of tax code to do what is in the best interest of the company and steve moore, you spoke to fred smith. >> no good deed goes unpunished, the story is very simple here, fedex which was very much in favor of the tax cut because

they wanted to do this investment and they invested 6 billion, $6,000,000,000.2018 in airplanes, trucks, other capital investment which by the way creates jobs and higher wages and as you said that's the reason we did the tax cut to get companies to invest and, of course, that reduced tax liability but the fact is this is why we wanted to do it and by the way what's wrong with prepaying the pensions unlike the government, they have pension system. great story. >> also interesting to note that "the new york times" according to fred smith anyway paid zero federal income tax in 2017 even though they earned 110 million and 30 million in 2018, if someone wants to look at tax returns, maybe they should start with "the new york times". >> what we are seeing both companies benefiting from reduction of corporate tax rates, however, you brought up the investments, if we look just generally across the board over the past decade or so, cap x has

been declining with a lot of corporations despite this tax cut break, can you look at the graph over here and this is coming from all the s&p 50 companies and a lot of money just last year alone, $806 billion in buybacks that was record year, yes, lower this year, but do you not think we have to -- you know, talk about that a little bit, the fact they are not -- >> where do jobs come from? cap x, it's $10,000 per job. >> goes back to shareholders, i think that's the whole point, the whole notion that unless you're paying a lot of taxes you're somehow unpatriotic or bad american, why would you pay more than you're legally obligated especially when you're a ceo and have a fiduciary duty to try to save and make your investors money, god bless fred smith, i applaud him here, instead of government getting the money it will go back.

>> it's not going back, that's going into the buybacks. >> but that goes -- kristina that goes back to shareholders whether it's buybacks, whether it's new investments, if money doesn't -- >> it's not investments. >> the importance of capital investments, the seed corn for the company, this will translate into higher profits and they won't pay taxes on it. albeit at a lower rate -- david: one reason tax revenue has been increasing, one form of capital investment which doesn't show up on the graph is investing in new hires and there's millions an millions of new hires because of the tax cuts $10,000 to train every one of the new workers, they pay taxes and that's why tax revenue has been increasing record highs. >> fedex have paid billions of dollars on social security tax, income tax. david: we wouldn't have had debate if we had a flat corporate rate with no reductions at all.

>> it is true. david top republicans want answers from abc news on why they buried the jeffrey epstein story early on, details coming up next. no more cartridges. incredible amount of ink. the epson ecotank. just fill and chill.

david: house minority leader and two other top republicans calling abc news demanding answers on why they prevented story from going forward that would have exposed allegations against jeffrey epstein much earlier, mccarthy's letter says i'm deeply concerned, went to abc news, provided information and abc news chose to bury the news, a decision that ms. robok alluded was to protect powerful people or financial interest, end quote. we have reached out to abc news for comment but have not yet received response, so liz, should congress get involved?

jonathan, let me put it to you first, should congress get involved in this at all in. >> first amendment answers that already and that's no government has no role in speech, i get that kevin mccarthy in general, what is he doing here, shame on him. i don't know if this is a distraction on impeachment, abc's decision to air a segment, not air a segment, that's their choice, it's not a police force, anyone might have been aware of what was going on with jeffrey epstein that might have been those who knew him way back when like the presidents who way in 20002 talked about jeffrey epstein's love of young women, abc has nothing to the with this. kevin should butt out. >> i think it was really bad performance on the part of abc, they have been exposed, they squashed the story for unsavorily reasons. >> we are weighing in with no details, we don't know anything nor should we -- it was an editorial decision, most often

producers and executive producers -- >> again, it's their decision. >> right. >> we don't know the reason, the decision, the editorial decision. why is government getting involved with this? >> exactly. >> these were series patterns of crimes, that's worst than the fact -- david: jonathan, that's a good question, is it not, if they had any information epstein was get get away with murder with underage girls, i mean, shouldn't they have shared with law enforcement? >> much will be written about the epstein tragedy, obviously, the real issue seems to be with the failures of law enforcement, much more than failures of the mainstream media like abc however big they might b epstein slipped through the fingers of law enforcement and prosecutors again and again, it's at their feet and not abc.

>> why do you think that is? why do you think that is? the money that he has, connections, he was able to slip through the cracks again and again? >> i will say to david's point, i think they blew it, they sat on the story and had major scoop, everyone was reporting on jeffrey epstein, it would have been in their self-interest to go ahead in the story and make the news. >> i think the allegation was that there was significant important people like royals, for example, and president clinton and others who were going to be exposed in this, basically went out to do fact-checking and sure enough those people came down on them pretty hard, that's the allegation, i don't really -- again, i'm not sure that the role of congress is to really determine whether that's true or not. david: of course, there's still questions on how he died. elizabeth mcdonald, what do you have for us? >> prodemocracy demonstrations around the world, hong kong, we have protestors occupying

college campuses, deploying arsenal of fire bombs, arrows, catapults, also in iran, iran warning of decisive action over gas price hikes, iranians demanding more democratic freedom, accountability from day care tittership and take you to lebanon and venezuela, expert analysis on each major flash point, we have tonight general jack keane, china expert michael and former venezuelan mayor now living in exile, david, back to you. david: thanks very much, billionaire mike bloomberg still not officially in 2020 race but acting more like a candidate apologizing for something he did as new york city mayor that he now says was wrong. nypd income taxative and founder of blue lives matter is here to sound off coming next.

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♪ ♪ >> i've got something important wrong, i've got something important really wrong. i didn't understand that back then the full impact that stocks were having on black and latino communities, i was totally focused on saving lives but as we know good intentions aren't good enough. but i can't change history, however, today i want you to know that i realize back then i was wrong and i'm sorry. david: former new york city michael bloomberg facing backlash from both sides after reversing long-standing support for the controversial stop and frisk police strategy, the new

york city times slamming timing of apology politically convenient. blue lives matter founder joins us now, first of all, what do you make of bloomberg's back peddling? >> he stood there saying, yes, i defended, police officers patrolled the area that were high crime and all you have to do pull up and the individuals are the gang bangers. so they got going to their night. it did a lot more good than the negative you hear on the news. >> clearly this is courting the black folks, are there any black leaders in new york city or elsewhere willing to stand up and say, yes, it was our communities who benefited most from this stop and frisk from the lower crime rates, that's

where the crime rate went down, it wasn't on the upper east side. >> no, it wasn't. i live in staten island, people who will be stopped are predominantly white. those numbers will reflect that. the bronx, latino, african-american side, those numbers will reflect that as well, it's not that police officers are being racist, they were stopping people in the area, they were doing their job. >> no question that bloomberg is pandering here, that says about modern democratic primary voters, to run as law and order democrat you can't do that these days and i just wonder what your take on that, this has been a successful policy, reduced crime and yet he's apologizing for it. >> it was probably the most useful tool a police officer can use. i want to see a leader -- don't backtrack, he's saying what he believes the people in the

audience want to hear. >> exactly. >> america is not going in the direction on what we will hear what's going to happen especially law enforcement and president trump defends us. >> latest numbers 76% of those that were arrested in 2016 alone were innocent, if we ignore the color of people's skin, it shows, questions the effectiveness of this stop and frisk program and if you really look at the numbers, 52% were black, 29% latino, that seems to be where the argument comes from, i know that you're saying crime decreased, how do you address that factor? >> so when people say that individuals were not guilty of a crime or they're innocent, it's not necessarily the case, they go for court and whatever reason the judge decides to decline prosecution in the eyes to have law they are innocent but when i stopped them they were committing a crime. the numbers aren't always accurate either and you have to take that into account as well.

>> i wish somebody would pull back on the data, i'm always hearing from people, so many young men of color are in prison for smoking marijuana, that's not true, those people -- greater crime in order to reduce innocence and because our judicial system is overwhelmed and they can't go to trial with every single accusation and every single case, why isn't somebody out there sort of pushing back saying, no, this -- >> before you bring that up, we need individuals that are showing the facts. people are misinformed and not being told the facts, the evidence and what's going on, if people knew, it would change perception. stop, question and frisk is bad, intended to stop minorities, that's not true, people stuck in jail for smoking a joint or something, they violated probation for something more serious. >> we appreciate what you and all the shield have done to keep us safe but let's take it to the

policing element and to politics, isn't bloomberg smart here, bloomberg is smart here for getting down in front of this, apologizing, whether it's elizabeth warren with whole native american thing or joe biden with his plagiarism issue a number of years ago or even bill clinton, bill clinton was never as popular after he apologized -- >> he doesn't have a thing to apologize for. >> yeah, but -- [inaudible] >> as democratic voter doesn't he and isn't he benefited out by getting in front of it and putting issue to bed right away? >> i don't know if stepping up and having that as your first topic to discuss is actually going to benefit you because in my opinion you're playing into what people want to hear, that's not always a good thing. let it develop, when it gets developed then tackle it. i don't want to have a president who will backtrack on the decision that he made. david: lives are important here and important to note that there were 2,200 murders every year in

1992, 2,200, that went down to less than 300, drop in murder rate, stop and frisk maybe wasn't the only thing but played a part in that but i would like -- at 90% of those deaths were in the minority community, black and latino, so thousands of black and latino people who are alive today that might not david: god bless you, thank you, sergeant, thank you for being here. can your college-age kid ace a test or change a tire? they are helping with adults courses, details, you may not want to hear this.

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nationwide hso you can plan for your futfor retirement and save for college. oh, that explains this. the nationwide dome. state-of-the-art venue. 80-yard screen. fantasy sports lounge. climate controlled seats. sushi bar. club level pool. really? lastly... retractable roof. whoa. are you kidding me? peytonville showed no mercy. go peytons. (pop) kind of lackluster. eh, still working out some kinks. who they playing? the brads. worst team in the league. of course.

david: college students are apparently so bad at basic life skills, that some colleges are now stepping into help bridge the gap between the classroom and the real world. they are offering noncredit workshops often called adulting 101. i kid you not. in areas like changing a tire, balancing a checkbook, budgeting and tax preparation. some of them free of charge. teachers say decline in home economics classes in high school has contributed to the need for these life skills workshops. liz, what do you make of this? >> look, i think it is a good idea, particularly the financial. if kids don't know how to create a budget, that will hold them back in later life if they are trying to launch a business. i think it is kind of sad that parents aren't teaching these kids these things. we taught our kids how to do that. look, i think it is better than some of the other baloney that's being taught in school. so i'm perfectly okay with it. >> there's a saying you're so smart you don't know the difference between a pig and a

cow. it's true. kids are so book smart. when we were in high school, we had stuff like shop class and things like that. david: i loved shop. >> i did not. >> why don't they have that anymore in school? >> they do, though. i had to build a birdhouse. [laughter] >> that's in canada. >> i think this raises the point that education system has failed a lot of americans canadians across the globe when it comes to financial illiteracy. no matter what in every single school there should be a budgeting program. why is there no tax prep course? >> and how a mortgage works. >> i've never balanced a checkbook. i've never -- david: i don't balance a checkbook. >> but you can make a birdhouse. [laughter] david: jonathan, can you make a birdhouse? >> i can't make a birdhouse or change a tire. i can balance a checkbook though and i can invest and i do know

about budgeting. to kristina's point, these are actual life skills. when you talk about the application of history, application of math, that's economics. david: all right. last word. that does it for bulls & bears. thank you for watching. see you back here next time. elizabeth: street protests against corrupt dictator shops around the world. -- dictatorships around the world. to hong kong pro democracy protesters using thousands of fire bombs, bricks, even bows and arrows, slingshots catapults, we will take you there. to iran people taking to the streets in nearly 100 cities fighting against gas price hikes, fighting against the religious dictatorship there. corruption, reports now coming in, more than five dozen killed. also rioting in lebanon. rioting in venezuela. we've got the latest and expert analysis on each major flashpoint and what it means for the freedom