tv Maria Bartiromos Wall Street FOX Business December 1, 2019 8:00pm-8:30pm EST
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bloomberg is trying to spread the money around different states, different ideas. lou: good night from new york. a crybaby. >> just a little. mike thank you so much. >> from the fox studios in new york city, this is from wall street. >> heavy weekend, and happy thanksgiving to all. welcome to the program that analyzes the week and position you for the week ahead. maria in a just a few moments my one-on-one interview with and more cuban, will talk about his right from humble beginnings to becoming one of the most influential names in sports and business. and then later i will talk with the ceo of mercer, about the super yacht industry and how his sectary is a key indicator for the broader economy. all that coming up. in the end of 2019, can you believe it. let's move ahead a year into 2020 with strategic partner and had a policy research with then.
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good to have you then. >> then: thank you. >> you know that this is a holiday wake and of course black friday moral important. tell me how you things see things going into the end of year and into 2020 do you say the economy stay strong. >> yes economic fundamentals are pretty good we are going at 3 percent in 2018 and we have probably slowed down to about 2 percent here in 2019 and one of those reasons we are staying that slowdown is that consumers remain strong for your business investment has slowed down in live of some of the trade insurgency and federal reserve being is it too tight and the good is here maria, is the federal reserve start cutting interest rates and we're starting to see modest balance sheets expansion and we expect that to sort of see through the economy. particularly in early 2020. and the u.s. and china, are really sitting down and having serious talks about a stage i trade deal. just this week, you saw china, and the u.s. both staying we are if you get close to a deal, yet
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they can start to see investments pick up. and that is nice tell when going into 2020. maria: the great pointed to make because people are really disappointed when it became clear that usa inmate was not happening this year. let's talk a little bit about trade. china is talking about a deal being possible. what about u.s. ema and how important are these two things for the economy. then i want to get your take on the stock market because you keep staying record height. dan: let me start with u.s. mca, or what we call nasa two-point oh. the speaker of the house, nancy pelosi said that she wanted to get to yes on the deal. after the last couple of days, she is really started to pull back on that idea. is it because she doesn't want to give trump a victory. before the election. while there is room to that. this creates asymmetrical opportunity the president. negotiated a better deal is going to boost the economy that is going to lose the auto sector in key election stays maria. he can now go to those people and in those facing see i can
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negotiated a better deal and nancy posted in the democrats don't want you to have more food on the table for your your family. there is enormous pressure on the democratic leadership right now. to host an aptitude to.out because many of the moderate democrats who represent district donald trump one. in 2016, they don't want to vote on impeachment. they want to vote on making things better in the district. and who my sense is that they meet may actually see that peter break. as the pressure begins to build in. watch it, but either way, the president is in a good position here politically. and i say that will eventually lead to good policy and self rated speed i say are spot on. is the fact is that this past week, you had all of these people from congress going back home for your thanksgiving and going back home to their districts and guess what, to be one districts the president trump one and now they are looking at democrats in congress and running for your reelection. they are going to have to be forced to vote. will you vote to impeach this
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president. that could be detrimental for your their election campaigns and 31 districts. dan: you are who right in the way we saw the speaker of the house, sequencing this she was going to get those 31 members a key policy victory on nafta, before forcing them to vote on impeachment and now you are pulling back nasa. and the public supports for your impeachment is declining. it is probably even greater those declines in those key scream districts. that is really for the democrats in a position going here into the year-end and the president's position will politically. i can tell you would rather have the policy victory because nafta is good for the economy. and he really wants to get that done. maria: pete join me last weekend of our fox news into holographic about the opportunities lost. the opportunity cost of 24/7 impeachment. and that is 200,000 jobs around u.s. mca and is the trillion dollars around prescription drug plan and it was other things, it was the economy. nine hear them talk about the
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economy. they don't want to talk about that because write a 50 year low unemployment. tell me how 2020 checks out on your view now that we have michael bloomberg and the risk of ending. that can't be good news for your he'll live warren and britney sanders. he hates pendant billionaires. there should be no billionaires in america britney sanders says. dan: i've never seen a serious candidate entered in the races such as michael bloomberg. in 1992, summer in august or september news and is the very late entry and is putting $35 million on the edge to start. it just shows you the loophole of discomfort in the democratic party. where one side of the party has brought happy with the other side of the party. and vice versa. who this is really a divisive primary that is starting to build print and guess what the president is doing pretty is spending lots of her name shaping the views of all of the democratic candidates. who whoever emerges as the winner in the democratic primary, is going to be out of her name and be not an essay april or may and the president is going to be in good shape. and that is why it is who hard to be an incumbent. let me also see nancy pelosi has
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to be worried about speaker, he'll live warner and bernard sanders wind the lump nomination. they are talking about confiscating people news wealth through well taxes. and if you say about it, many of those democrats, that you reference, that one and trump disregard for your my income interest areas from around the country. hart county california, short hills new jersey, nucleic virginia, and then going to have warren on the top of the ticket. i say they will start to scream the house back. of those people get elected. maria: give me your assessment of what gets done in 2020. it recognizes going to be all about the election but do you see any policy happening out of washington in 2020. dan: there is a belief that election years create new policy. i argue.what the opposite. never underestimate politicians who want to get reelected. you can see something significant on some pricing on nasa, say china is going to get done. and he would have a modest budget put in place sometime in february. and that should set the stage for the election itself. maria: thanks much.
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maria:welcome back. what a success race story. from not having enough her name to buy a bed to becoming one of the most powerful names in business. mark is the epitome of the american dream. i spoke about him from his rise from humble beginnings. >> i work for your a company where i sold software and one of my responsibilities and retold sort and was come into sweep the floor might in the windows and open up the store. and i got one of my fellow employees to take care of that for your me and i call my boss i said, i'm going closes big deal and meanwhile i'm sleeping on the floor and three bedroom apartment and i only have a drawer, i don't have a closet, and i only have a pile. who i'm thinking, going to get a 1500-dollar commission maybe going to be able to move out of this dump that i am leaving in. who i called him they said no i
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need you to open sore today who i made the executive decision to go pick up the check and the need that i'm handing him a 50000 check gives me $1500 commission is going to change his mind. he fired me on the spot. maria: you are forced to leave. mark: i found a company in architectural lighting, i.c.e. and i have nothing, if you'll investing the her name which is $500 for your one piece of software, i'll make $250 on this. and it's a lease going to be started. if it doesn't work, i will sweep the floor at your house, i will wash your car, i will walk your dog whatever it takes. and it worked. and they referred me to somebody into referred me 70s and that company grew to 30 millions in sales and i sold it. and i went from there. maria: who is the great and guts that you had to just keep on going. thus the american dream. mark: on how to be part of it. maria: unison 200 companies. where's the growth of business today. mark: good and the bad is, the business but the biggest businesses are growing the most
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because they're able to take advantage of of artificial intelligence. smaller businesses you really have to be innovative, and differentiated. you can still make it. the guys, leave the cell little holes. who i say small companies if they are really creative and really pushing to places where others are, you can still start a small company and really quote big. and that is one thing but in terms of where to look, i say artificial intelligence particular integrating into small and medium-size businesses, like i have a comedy called no . isle, that does has a platform for your ai that allow smaller and medium-size businesses, to use ai to really increase your sales. those types of applications are going to grow anything healthcare applications going to grow as who hard medicine becomes more popular. there's more opportunities there. who there is always places. always places for your entrepreneurs to creative people
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to find ways to change it. i was coming to nero, as were walking on the street, cj, look around, and my 13 years and six -year-old two. they don't listen to me as much of my ten -year-old is all. i see look around, everything that you see, somebody made that. there was a day when a digital billboard not exist, there's no reason why the next big idea can't be your big idea. and it's up to greg school kids, i tell them the exact same thing for the american still the american dream is still alive and well. maria: people worried that other peak people are worried about china is ahead of us in ai. speak. mark: in russia is it too. we don't have coherent ai strategy in united states yet. we should be investing heavily and not just for your business reasons and not just for your political reasons, but for your military reasons. maria: doesn't bother you if that for your example google, the juul of
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google is its ai. the best ai in the world at google. and that early iweb in beijing. mark: this on a good thing. and i say this is a lot about our national strategies and also says a lot about our educational system. we are not during his up towards becoming engineers. i don't know the exact numbers with a graduate more engineers in a single year than we have in all of our universities are something that effect. who really can have to work harder to compete. what's even more is our immigration policies are making it tougher. we educate kids from around the world here now are asking them to leave when some of the brightest talent want to come and stay and we need that talent. we need that town to stay here. immigrants start more businesses than third or fourth generation americans. we need that creativity. and were shooting ourselves in the front by asking them to leave. maria: peter was here and needs to see is the very serious issue especially with china. because china was to be number
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one superpower. and they said imaginal if in world war ii, one of our major cabeza guess what, i'm not going to work with you, merck and pentagon because i have to get a foothold in japan. maria: 1000 issue. i am hoping this is just a short period of time where companies are trying to learn how to deal with employee suit based on social issues. it is true that kids today are kids are protesting on college campuses on people thought that was bad and it turned out to be net positive. i say were going through it. but effectively he is right. we need our biggest and smartest companies. we can't break them up. because they are the best sources of ai intelligence for your us right now. because the government doesn't have coherent policy. maria: thank you for your and more. thank you for your and more. be brilliant.
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maria: popped back on this holiday weekend, we are thinking travel since 1975. burgess has been a leader in the super yacht industry. handling aspect for your business and from clients and sales to charters to construction and conservatism. i spoke to jonathan about the business of yachting and how it is economic indicator of how healthy the broad economy is. jonathon: phenomenal this year, we had a very or our best year last year in 2018. and we were sort of planning for the worst and hoping for the best. and in 2019 and actually we have passed all of our pet expectation this year and we are about 20 percent of on anywhere where we've been before. it is actually very exciting for your us. maria: fantastic bridge 20 percent up. we had a granite great economy last year. good metrics in terms of the economy. incident indicator.
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are we doing well, is it partly due to vibrancy a phoria for the broader economy. jonathon: absolutely it is. it fall is the business markets. the stock market, and our clients, they have her name but they need the confidence go out and spend it. on something like a yakitori up chopper. they know right now, and the economy seems to be in a good place. we haven't seen any signs yet. maria: is good as you, we are in a good place and yet a lot of people expecting to slow down. year and expansion which is unprecedented. you were founded in 1975 and you got 13 offices across the world. tell me where you are seeing the most growth globally speaking because the worry is that the horses you know, that chinese economy is slowing in the global economy is slowing you wrote and able to generate much growth. jonathon: one of the good things for your us is that we do have 14 offices around the world. we are truly a global company
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who if one market is down somewhere else hopefully will be up. and we had traditionally, it was you're up and the middle east in america. and then the russians came into our market and had this in sensational act. it would building invite. maria: and they were paying up for your it. jonathon: it in mind with the page who long as they got what they wanted. now they have all disappeared. they've all gone down that rabbit hole. when america is back very strong and asia and china is actually, really establishing itself as an interesting place to be. that's in terms of la. maria: you see russia's down run. what about china. between the u.s. and china china coming up with the deal. what is your take on the chinese in this market. in one or not they are pulling back spending. jonathon: i say there are pulling back spending.
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our clients, we worked very hard with the ultra high net worth chinese clients. actually we are only dealing with a handful of people of any one time. we don't need 200 clients. we only need about five or ten clients. the clients we are working with the moment, are all in a very positive about coming on and spending her name in our marketplace. maria: apparently there is a work transfer that's going to be happening from baby boomers, passing on inheritance to their millennial children. you are talking about $68 trillion in wealth transfer. that's expected to happen within the next ten years. sue can also from those millenniums. jonathon: that's very interesting to me. in a meeting with the boston consulting group in london recently. when looking at the wealth curve. it is going up. steeply. but the new construction curve is much flattered where try to work out why is that. but i say a lot of the wealth, the average edge is 62.
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who i have the perfect candidate for your this. a lot of the wealth is in younger people news hands these days. which it wasn't 20 years ago. and those are the younger people don't want the mention connection at all. the rolls-royce to drive around the city. there more sporty and they're doing things of the younger person would do. i say when they reach the five years old, and they are married and have a family, they will step up into our market. maria: see just want to groom families. honey get that customer. jonathon: obviously a lot of them are children of our clients. who we know who they are. and working very hard to talk to them. and the way we sold to the younger generation is the weight that we sell to the older generation i say that is one of the things that we have learned over the years that we have to react very differently in different marketplaces. maria: in terms of being able to sell
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one of these yachts, is chartering a yacht, the first way you do that. you want to introduce somebody to yacht leaving. jonathon: more often than not. if somebody were to come in and they haven't really thought about hunting before but that seems to be a great holiday and it is a great family holiday, they come in they enjoy it and they will do it two or three times and then they start thinking about buying their we've god. maria: to me that the construction today of new yachts and boats. is it very different than what has been in the past in terms of constructing these new ships. jonathon: new yachts are getting bigger and bigger. some 20 years ago, the we've god was 60 to 70 meters, and 200 to 240 feet, today, i got would be anything in the 18 meters, 250 feet. and you start to get into the big yachts. maria: you can do a lot of the vault when is that big. tell me about four start versus sick *. obviously one of the most ours we do are charging a lot or
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buying a yacht. what are the terms in services in those notes. jonathon: do a lot of clients who have worked with us for your many years. and when that chartering a vault, they will see to us, that is what we use you, because you pick the perfect vault for the perfect cruise for your us. some people are very formal and some people need something very casual. a number of the yachts are not five or six starts. a lot of them are four-star. and that is very disappointing. if you going on and spitting a lot of her name, and having to get the best, and actually not getting the best community second-best. and that is not acceptable. maria: these are expensive voyages. if you charter a yacht, depending on the state 100 feet, how much does that cost. a. jonathon: gunfight yacht would cost you around hundred thousand dollars a week. something like that. some of argonauts could cost a million dollars a week. and we have got a couple of yachts that cost $3m a week. that's a lot of her name and you
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(sfx:footsteps in wet cement) (sfx:birds singing, distant dog barking) hi hi ♪(whistling tune: "don't worry, be happy")♪ welcome back, coming up right here, we have a private equity sector and business, cofounder, my special guest. join us next week and at this time for a special program. tune in sunday morning for warning features, catchers lift this weekend talking with alvin
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and others. every weekday on fox news right hear from six to nine eastern every morning, mornings with maria. i hope you willreat rest of the weekend. thank you for watching. have a beautiful thanksgiving weekend. see you again next time. >> welcome to "wall street" journal, thanksgiving is over. i hope you had a restful and happy holiday. it's that sacred time of year we get to reflect on important things in life, the true meaning of the holiday season. we go shopping, black friday, super saturday, will be spending, spending spending. the traditional idea of retailin
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