protests expected there. a lot to get at. for the markets, down 42 points. it has been going out an a little bit after whimper last couple trading days. it has been a spectacular year and decade. blake burman, take it away. blake: ashley, spectacular decade and year, thanks. i'm blake burman in for neil on this "coast to coast" edition. happy new year everyone. new year's celebrations across the globe. live look at bangkok, thailand. would you look at that! listen for a second. you could probably describe that as wall street over last year or so or decade or so, with investors plenty to celebrate as well. stock on track for the best year, at least the s&p, since 2013 this is as the president says the phase one deal with china will be signed on january 15th. he tweeted that out earlier this

morning. with phase two talks with a presidential trip to beijing at some point to follow. that is how we end this year. pretty much where we began it. with the markets up and trying to figure out what is going on between the u.s. and china. deirdre bolton at the new york stock exchange with war things stand. happy new year to you, deirdre. >> blake, same to you. happy new year to you too. on last day of trade for the year, a little bit muted on the dow. even if there is no green on the screen at this particular moment this year has been a standout year, this decade has been standout. the dow is up 22%. s&p 500 up close to 30%. the nasdaq has returned 35%. apple by the way is the standout stock for the year and for the decade. it is the best performer, up 84% in the past 12 months. analysts say apple services, wearables, especially airpods many people asked for christmas,

still haven't gotten because they were in high demand, boosting the company's profits certainly. certainly boosting the stock, basically reassuring investors apple has other consumer driven goods to offer, may match the iphone success. apple up better than 850%, blake, if you bought that stock 10 years ago. now for investors, let's give you that 10-year view overall. the dow is up 172%. you can see that on your screen. s&p 500, 188%. the nasdaq up almost 300%. whether you have a 401(k), whether your pension has some stocks in it, you have done pretty well. by the way, there are two standout stocks that are listed on nasdaq but included in the s&p 500. netflix and amazon. wanted to jai-alai those two in particular. netflix, number one best performer of the decade, up 4,000%. this is for the s&p 500, number

one performer on the s&p 500. you can't beat those returns there, up 4,000%. amazon, more modest, respectable return, better than 1200%. blake, wild card investment for the decade, not so frequently traded. a lot of people uncomfortable with the digital coin. but bitcoin a 9 million percent return in the past decade. started at zero. went up to 14,000. you can see, 7900 we'll call it. skeptics may have to step back at least for today, blake. blake: that is one of those austin powers nine million% returns. deirdre bolton. enjoy the celebrations, deirdre. good to see you. >> thank you. blake: as deirdre mentioned this is the longest bull market run in history. what about potential roadblocks investors should look at heading into the new year? might there be heading maybe not. gartman letter, editor and

publisher dennis gartman. happy new year to you. thanks for joining us. >> happy new year to you, blake, thanks for having me on. you're scraping the bottom of the barrel. you found me. blake: got burman in for cavuto. i think they'rescaping the bottom of the barrel. talk about what deirdre talked about, if you bought and hold, as so many heard when little kids and heard for decades since, right? >> it has been truly extraordinary decade. i must admit i missed a goodly portion of it. i have a hard time with high-tech. it is beyond my kin. people heard me say this before, i like the things if i drop them on my foot will hurt. i go for basic industries. clearly the place to have been, especially for the young has been high-tech. it has been phenomenal. blake: is that the place to be, is that the place to be in the next decade, next year, next five years? what is -- >> i will, say the place to be

in the next self years is commodity markets. commodity prices lagged so far behind the rest of the world. especially lagging behind high-tech and stock market in general. my money will be on commodity markets. i may miss the high-tech industries again. if i do, it is just my age. i don't understand what they call high-tech to begin with. it is just a matter of time. blake: let's pull back from looking at the decade. let's just look at this year. there has been a little bit of a selloff, very, very minor last couple days. is this just profit-taking as we head, taxes and all the like we'll be dealing with next couple months? >> well, to the start of any bear market it is always, at the beginning always looks like it is profit-taking. let's call it profit-taking for now and many profits to be taken. probably a few more profits to be taken after the turn of the year because of tax runs. if you own equities, for several

years, you sell them this year instead of next year, you pay the taxes in 2021 instead of 2020. there will be selling pressure after first week or two. the january effect will always be in effect. we'll see how january ends but the first couple days i wouldn't be surprised if the market shows a little weakness because of tax concerns situations. blake: we'll see what happens. dennis gartman, thanks for joining us. enjoy the day, enjoying the evening. have a good one. >> thanks for having me on. blake: as dennis says we'll see what happens. that might be the favorite phrase of the president. we'll see what happens. though today he said he will sign a phase one trade deal. that phase one trade deal with china, on january this. the president tweets this out a little while ago. saying that there might be a return trip as well to beijing. all of this could come in the middle of a possible impeachment trial in the senate. to the "wall street journal's" eliza collins on the timing of all of this. hello. >> happy new year to you.

blake: happy new year to you. when i saw the tweet january 15th, i thought two things. one could be in middle of a senate trial, two, davos is a week after that. if the president goes allows him to take a victory lap. what about the timing of this. >> absolutely. next year political year, election year. this president is a master at distraction and, right now does -- blake: master at marketing some would say. >> also marketing. he doesn't have a lot of control about the impeachment trial at this moment because we don't know when pelosi is going to send over the articles of impeachment to the senate. so right now that is kind of making him crazy. this is something he can announce right in the middle of a likely impeachment trial which is a victory for him. blake: it's a headline, signing phase one deal, january 15th at the white house. i'm going to beijing. it is being picked up, but you don't know the details of this trade deal. i don't know the details of this trade deal. all the administration says

there is a trade deal to be signed. as we learned from peter navarro yesterday, it is 86 pages in english. that is all we know right now. that's night phase one is the key part. means there are other faces. blake: potentially. >> potential i. but phase one is a headline like you said. it's a headline at a time when the president could use some good headlines. he is marketing that. he is going to do that right in the middle of a kind of controversial moment. smart of him. blake: phase two happens in 2020 or you don't know? phase two-a or b, whatever that might look like? >> i have no idea. blake: great answer. what do you think might happen? >> it could. this is election year for the president. it will be a pretty crazy year. it's a victory for him. it is helpful for him to have a trade deal and to have like, markets go up, to go to davos take a victory lap, those are all the things republicans want

to talk about. blake: not impeachment. not a senate trial. election at end of the year, the president wants and needs most likely at a good economy at this point. all of this weaves in and out. eliza collins of "the wall street journal" thanks for popping in with husband. >> thank you. blake: hundreds of prostesters, did you hear about this, storming the u.s. embassy in the iraq. this is many some of the headlines and video out of this. we'll tell you what the white house is saying after this so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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is telling fox news that about 100 marines are being sent to that embassy to bolster security. fox news correspondent trey yingst has the latest out of the middle east. trey, this was a story we've been following in iraq the last few days, but specifically the embassy. this just popped overnight. what's the latest? reporter: exactly. good afternoon, blake. hundreds of iraqis stormed the american embassy today in baghdad, prompting iraqi security forces to respond. protesters set fire to parts of the compound, smashing windows and chanting, down, down usa. reports indicate the embassy is on lockdown and american citizens are inside. the ambassador is out of town. they were trying to push back protesters with rubber bullets. president trump spoke with the prime minister to reiterate that the u.s. will protect it is people. president calling that them to.

this after u.s. strikes targeted iraqi shia militia group, reportedly responsible for rocket attacks on friday that killed one american contractor. the group that was hit, kataeb hezbollah vowed to retaliate against the united states. >> translator: it's a violation of all norms and values. this aggression won't pass unpunished. reporter: i spoke earlier today with one u.s. official who stressed an important point to remember. the demonstrators at the u.s. embassy in baghdad are different than the demonstrators taken the streets throughout iraq throughout this year, protesting their government. most of the people are linked to iranian backed militia groups in iraq. that official adding president trump will make a final decision if and when if there is any response by americans to the storming of the u.s. embassy. blake? >> nighttime in the middle east as we see from trey yingst in jerusalem. something we'll continue to follow.

trey, thank you. back home here to domestic issues, foxnews.com is digging into elizabeth warren's plans for the wealth tax and questioning whether or not the devils are in the details. because she is looking to tax such big items like student debt, universal child care, "medicare for all," and much more as you see there on the screen. to "the daily caller" editorial director vince coglianese on the math behind all of this. how are you doing. >> happy new year. blake: happy new year on this december 31st. you saw some of the items elizabeth warren wants to tackle, debt cancellation, universal child care, tuition free college. 50 billion for hbcus. a trillion for "medicare for all," tackling opioid crisis. will that cover that. >> no it won't. wealth tax will not cover "medicare for all." basically what that means if you hear her say wealth tax, don't forget she has gigantic

multimillion-dollar program to pay for it, "medicare for all." the way she is doing that avoiding saying throughout the campaign, she would raise taxes on middle class. that is how she is doing it 2% tax on assets over 50 billion. 2% tax for billionaires. assets over a billion. the campaign said this would hit 75,000 household hose bring in at least $50 million. over the course after decade, $4 trillion. >> right. blake: sounds like a lot. do you think they would eventually get there? >> this seems to be a pipe-dream for a number of reasons. problems, one of the problems with it, she spends all of her time talking about gross concentrations of wealth and influence over the united states. this program is the biggest concentration of wealth in a sector, government, that is notoriously corrupt with vast apartments of money. whether warren administration or any future administration she is creating conditions wherein corruption will have access to vast amounts of wealth. blake: what kind of corruption?

their plan acknowledges there would be tax dodging. is that what you're alluding to? >> don't mean corruption among tags pacers. corruption amongst the government. the government gathers all this money, you think they will do it effectively? blake: pete buttigieg says he will decriminalize potential of all drugs, including meth, cocaine, ecstasy if elected. how would this play among democrats. >> this is a sign there are not any moderates in this race serious contenders for the nomination. pete buttigieg we should take seriously leading in iowa and new hampshire. with this policy essentially saying i don't mind that there is this giant problem with the opioid crisis killing some 70,000 americans in drug overdoses every single year. he will make it easier to get access to the drugs. easier for americans to be killed. blake: he is saying don't prosecute the users as part of his argument.

he is saying go after the folks dispensing all this stuff throughout communities. if you're a user, don't pros cue them. throw them behind jail. go after high level folks. this is what he said came via "the des moines register.." came before the editorial board. he said, we have kids in south bend grown up incarceration of parent as one of their first experiences that makes them dramatically more likely to have a encounter with the criminal legal system. i've always been skeptical of mass incarceration. i believe more than ever we need to take really significant steps like ending incarceration as a response to simple possession. so he is seems to be targeting here the possession and then throwing people in jail because of it. >> look a major presidential candidate in the united states should not be pursuing getting rid of impediments to drug use, which is what he is doing here. if he wants to go after the source, there is way to do that. go after mexico, go after fentanyl, go after heroin, chinese imports of those chemicals.

those are dire situations that need to be grappled with. blake: vince, god to -- good to see you. happy new year. >> happy new year. blake: the gig economy, is it up? uber has a big fight on its hands with the state of california. this one goes into play tomorrow. there is now a lawsuit. could other state be trying to take california's lead on this? we'll tackle it coming up. ♪. ♪ yes i'm stuck in the middle with you, ♪ no one likes to feel stuck, boxed in, or held back. especially by something like your cloud. it's a problem. but the ibm cloud is different. it's open and flexible enough to manage all your apps and data securely, anywhere, across all your clouds. so it can help take on anything from rebooking flights on the fly, to restocking shelves on demand, without getting in your way.

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>> anybody can go down 300 to 3,000 feet in a mine sure as hell can learn how to program as well. anybody that can throw coal into a furnace can learn how to program for god's sakes. lowest starting salary, $49,000. highest? 102. taught them how to program. there is 100,000 high-tech

manufacturing jobs out there that are going unfilled. it takes about 15 weeks to learn how to do it. we can do it. so it relates to access to education. blake: all right. so with hitting coal too cold? that is joe biden in new hampshire raising eyebrows among some blue-collar workers that coal miners should learn to code. we have west virginia republican attorney general patrick morey, that the u.s. needs coal to stay in business. thanks for joining us in washington from west begin. >> thanks so much. blake: you hear the comments from the former vice president, presidential candidate, you think what? >> unfortunately it is very tone deaf. there are a lot of people families struggling in west virginia now, works class in our state. so many people relied on coal, manufacturing jobs over a long period of time and when i hear

joe biden talking a bought it, remind me what hillary clinton said, we'll put a lot of coal miners and companies out of business. it is another way of telling them let them eat cake. we want coding jobs. blake: the argument these are good-paying jobs. these are jobs out there need to be taken. you go to any state in the country, let alone west virginia, you find a high school that teaches stem. drive student in that direction but did this miss the mark? >> i think it did, it is how you do things. people know we want coding or other tech opportunities. we want to welcome the people into west virginia. the economy is getting better. we can't to compete effectively. those people that are working so hard, dismissive and cavalier, shows you're not in sync with working class voters that is the reason why president trump did so well, wisconsin, michigan, pennsylvania, west virginia. you will see a similar dynamic if joe biden is the democrat

nominee. trump will match up well because of comments like think, we had you here initially to talk about opioids, that is something front and center in west virginia. on your plate as well. i was reading about it, this story is in the headlines more and more. opioid related overdoses six times the amount since 1999. put a map up on the screen if you don't mind. >> certainly. blake: where the concentration with prescriptions. non-red colors, there, basically south, lower midwest, out west. the opioid prescribing rates are well above average. west virginia in the middle of this. what is going to be the big story going forward in 2020, trying to combat this crisis? >> couple things, first, you have to give credit to the trump administration who has been focusing on this issue. they have been looking at law enforcement, money into treatment, continuing education. you need to attack the problem

holistically we have to address the pieces. in west virginia we're in lot of settlement discussion with the manufacturers, wholesalers and still working with the dea to get the supply number down from the national drug quota. if we keep making progress there, really target illicit products, call for elimination of fentanyl. we have to make certain we circle all the wagons. it is complicated issue. if we keep doing what we're doing, what the president is doing, we'll make progress. blake: big thing quickly, getting supply quota down, fewer pills out there on the market, obviously the less chance of abuse, overdose, et cetera. >> certainpy part of it. we have to get diversion down. my lawsuit to dea was all about. there is more as well. a lot of time when people don't take prescriptions and they're not, there is diversion is eliminated they move on to fentanyl, meth, other products. we have to get at the demand with people. that will take a lot of work.

blake: you referenced this lawsuit. >> yeah. blake: it is going to be massive, no? billions of dollars potentially against these companies. >> absolutely. look, i think there needs to be accountability within the pharmaceutical supply channel. i want to look at families impacted in the eye, i did everything imaginable to help out and that is what we're pushing. right now a lot more work needs to be done. i'm not ready to sign on board. it doesn't do right for west virginia but we're working on it. blake: we'll see where it goes potentially in 2020. big story. if there is settlement, it would be sent out to families impacted by the company. >> absolutely. blake: patrick morrissey, save travels back to west virginia. >> appreciate it. blake: phase one deal is set says the president but is the deal the best one for the u.s.? we'll debate. don't miss fox business's invested inly live audience show january 22nd, 2:00 p.m. eastern. all you have to do is go to foxbusiness.com if you want to be a part of it.

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blake: bit of a rough year for huawei in the u.s. as we know.

turns out the company might be getting its way or at least close to it, when you add up sales. company says sales spiked 18% in 2019, despite the moves here in the u.s. made by the commerce department, president, trade team, et cetera to restrict business, not allow u.s. companies to sell parts to huawei but the company is also warning about the future business for next year, the u.s. keeps restraint if it decides to do that it could have an impact down the line for huawei. still sales up 18% this year. bit of news from the president as he said on twitter that he will sign the phase one trade deal between the u.s. and china on january 15th. we turn to lee spieckerman, who says it is in the u.s. best interests to take the deal with china. jonathan hoenig says we haven't seen anything yet out of china and that is indeed jonathan hoenig. it is tuesday, why you're dressed up like that? this is your tuesday garb. >> i'm celebrating earlier. we have a lot to be thankful

for. whatever our political differences we have a lot to be thankful for on december 31st in america. blake: indeed. happy new year. start with you, jonathan. you think this is not a good deal. nobody knows what is in it. we haven't seen the thing. >> blake, there is no deal yet. hard to analyze, we keep hearing about a deal, the end of the music man, where is the band? where is the band? there is no band yet. the cost of this trade war has been astronomical. federal reserve lost in gdp, loss of manufacturing jobs, increase in costs not just to consumers as well. washing machine prices up 12%. u.s. steel laying off people. there is very little benefits. we haven't seen any change in the trade deficit or ip. what is all the costs? blake: reality, we don't know. we haven't seen the details. lee, regardless of that, you

like what you have heard so far? >> well i do. i think that this is fantastic. you know, i have often said when it comes to trade, china cheats and in this case negotiating with team trump china blinked and we, i think made a very good first phase deal. blake: how did -- >> that president trump wants to start again. blake: how did they blink? because the administration in april, may, when there was this deal said there would be 150 page trade deal they were at within the 10-yard line. we heard from peter navarro yesterday this is 86-page deal. so clearly it is scaled down at least phase one? >> we got some really substantive commitments on them spending $200 billion over two years more on american goods. but also, keep in mind, we kept tariffs on, almost $400 billion of chinese imports. that means we have a lot of leverage in the phase two negotiations. hang on. that is going to generate

$70 billion in additional government revenue. that is enough to make the middle income tax cuts and trump tax cut plan that was passed permanent so they're not going to expire. that is great for the middle class. jonathan is dead wrong on the economics. the united states is the fastest going country in the eocd. we're the fastest growing major economy on the planet. >> in spite of tariffs. not because of tariffs. >> christmas spend something way up. employment is way up. million manufacturing jobs. blake: what about all the positive numbers? >> just bewildering to me even at this point, lee and the president don't understand that tariffs are not paid for by the chinese. they're paid for by americans. that is why the federal reserve study and every other study said prices have gone up for those impacted about the tariffs. >> we have zero inflation. we have zero inflation economy. that is ridiculous. middle class incomes are rising for first time in 20 years.

>> apples-to-apples comparison. >> half a million well-paying manufacturing jobs since president trump -- this is terrific policy for america. >> well, let me just say to blake's point there is no deal just yet. we haven't seen the deal, federal reserve study, you seen prices rise. >> might be short term trend. >> what about unemployment? you worked for george bush. he learned this lesson. >> hang on. let me say one thing. blake: let me get in here real quick. the tariffs have been a net positive how? because consumers and companies do pay for them. that is undisputed. >> look at bottom line. christmas spending was a record. american confidence in the economy. >> not because of the tariffs, though, lee. >> hang on. support for president trump's economic policies among middle class voters is through the roof. there is nothing not to like

about this economy. americans get what is going on. jonathan, jonathan that is your hedge fund, fat cat economics talking. that is not american people. >> it is federal reserve study. innumerable studies lee. >> look at the economic numbers. we had barn burning christmas spending this year. we have through the roof american economic. >> we're discussing -- i'm not going to -- >> million well paying manufacturing jobs. we added $70 billion a year. >> not because of the tariffs. lee. >> zero inflation. zero inflation, jonathan. >> all i can say, let me say one thing i will stop. you have to learn from history in order not to repeat that president bush tried this -- >> jonathan you don't know anything about tariff history. there has never been a economic contraction due to tariffs in economic history. not one. >> why president bourbon doned his, president bush tried the same thing in early 2,000s.

>> look at your history. >> because of exactly what we've seen last two years. >> the trade deficit with china -- blake: jonathan, lee. >> 360 billion-dollar a year trade deficit with china is more than double china's military budget. we don't want to be sending over there. >> it has gotten worse because of the trade war. the trade deficit is worse under president trump. to what benefit. >> the president is on the right track. our economy is stellar. these are the right policies. great way to go into the new year. blake: which got to leave it there. i think most people would say the economy is doing well. >> very well. blake: there is question how much tariffs held it back. >> made it a lot better, got us to the finish line of the trade deal. >> lee is only one saying that. blake: undisputed that consumers and companies pay for it. we have to leave it all there. jonathan, lee, happy new year to you both. jonathan, you're probably going to a fantastic party. i'm sure lee would be invited.

happy new year to you both. >> i would love to go. blake: see you both. that was fun. forget the election, 2020 going to be about electric? forget about the election, it will be important. what about electric. what ford just said that could spark a new future for autos. ♪. in my line of work, i come face to face with a lot of behinds. so i know there's a big need for gas-x maximum strength. it works fast. relieving pressure, bloating, and discomfort before you know it. so no one needs to know you've got gas. gas-x

blake: new year's eve, taking a live look at the big apple. you can see times square. 12:42 on the east coast. 11 hours, 18 minutes until the big ball drops. we'll keep an eye on festivities going on worldwide. there are of course security measures taking place in new york today, big ones, every year. fox news correspondent laura engle with the latest from new york, how they are keeping the streets safe there.

hello, laura. reporter: well, hello there, from times square. check it out. we have got everybody here who is lined up very early. they did come early. by section by section, pen by pen, new year's eve partiers secured their spot, setting up camp with the big moment tonight. hours away where things will get wild. you've been watching it for years. here we are getting ready to usher in 2020s. it is about to happen tonight. we look at all the people who are set up here. security is very tight as it always is. the nypd, taking a multilayered approach, checking every person, bag, item coming through the crowded streets. that is in addition to rooftop snipers and heavy weapons teams on the ground and k-9s. the nypd will deploy drones to help with security measures for first time. last year the drones were grounded due to heavy rain.

every year, tens of thousands of people, maybe close to be a million, will be part of celebrations rain or shine. we're expected to get a nice break from the frigid cold and wet conditions we've seen last few years, which is expected to bring even more people to times square for the big ball drop. we talked with some of them today with their strategy how they will make it through the night. >> rest. >> finding people that we can lean on, that is all we can do right now. >> i came early. i left the house at 7:00 to get here because i knew they would get people here at 11:00 in the morning. >> adrenaline being here will make me stay here to midnight. i really do believe that. i'm excited. first time here. i will make it, i will make it through. reporter: these people are extremely confident. they have every right to be. you have the nypd everywhere. you have really nice weather

headed your way. of course, you know, we have a lot to celebrate ushering in the new year. back here live, as we get ready to see the big ball drop, you were talking about very fun facts i want to share with you. the times square ball is nearly 12,000 pounds. it has over 2600 waterford crystals. no matter where you are here in times square, watching at home, you will get the nice kaleidoscope effect. we'll all be watching and waiting at midnight. you can watch it on fox. back to you. blake: thank you, laura. happy new year to you and yours. >> happy new year. blake: drones will watch times square during the ball drop and hours before. bring in former nypd lieutenant, darren porcher. darren, i was shocked to hear this was first time they had it. last year they tried it but even then, why did it take so long? >> when you look at the advent of technology, drones, although

it's a great team we need weather to agree with us. this will be the first year we'll actually fly drones. in addition to the drones we're going to have aircraft. when i say aircraft, meaning nypd helicopters circled above, with culmination of sniper patrols at the roof. tops. we have million 1/2 people gathered in a very small space. it is essential we provide them best security as a result. blake: what did have before or that more is better? >> it gives us greater optic what is occurring. the drones are not harmed with any defense mechanism so to speak. primarily a camera system relays information to the boots on the ground and we can deploy troops accordingly as we see a disturbance that erupts as a result. blake: darren, for the audience at home, i always wondered this how big of an effort to insure safety of everyone at times

square? i got to imagine it is massive? >> it's a huge undertaking. believe it or not the planning starts from last year, from the confetti drop last year, that is when the planning phase starts. it is very arduous task. this takes upwards of 12 month to plan. so especially when we look at this being the close of a decade, we have more fortifications that we're moving forward as a result. but this is a very arduous and continuous planning phase that started from when the confetti dropped from last year. this is merely to keep us as new yorkers and international community that comes through us as tourist safe as a result of watching this ball drop because this is a very festive environment and we've been successful for many years on end. we want to continue with that progress. blake: we continue to take a live look at times square, new york city, big apple, where the ball will drop almost 11 hours from now. daryn porcher, formerly of the

new york police department. thanks for coming in. enjoy your evening. >> you too. happy new year. blake: tesla has been on a tear this year. the company is reportedly making 1000 cars a week in china. what does that mean for the future of autos? [ dramatic music ]

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some people say that's ridiculous. i dress how i feel. yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real. what's your idea? i put it out there with a godaddy website. make the world you want. blake: continue be to keep eye on tesla on its tear especially last couple weeks. the stock basically at the magic number for elon musk, 420 that got him in a little bit of trouble earlier this year. the company started making cars, distributing them in china saying that is will make 1000

cars, at least will make 1000 cars a week. it hopes to get the 3,000 mark per week in the near future. tesla, again at 419, 420. whatever you want to call it. ford says reservations for the first electric mustang are full. uber, that as it relates to ford, just to get into that real quick, this was the first kind of crossover vehicle. the company says it has made all of those reservations, but they haven't said exactly how many reservations now. to uber and post mates filing suit to block california's gig economy worker law claiming it is unconstitutional. fox news correspondent jonathan hunt in l.a. with details. the law goes into effect tomorrow, jonathan? reporter: midnight tonight. in effect, january 1st. california wading directly into the growing gig economy.

making it more difficult for companies to treat workers like contractors instead of employees who would be entighted to minimum wage and other benefit such as workers' compensation. it's a law, that could, according to some estimates, cost companies more than $50 billion but according to california legislators, the cost is worth it to offer greater protection to the growing number of workers in the gig economy. now the legal challenges to the law are already underway. uber and the food delivery company postmates seeking an injunction today to prevent that law going into effect at midnight tonight. uber issuing a statement accusing legislators of passing the law using a quote, biased and overtly political process that ignored the voices of the workers most affected by the law and granted preferential treatment to an arbitrary group of industries. the blake, the only thing that seems certain in terms of the future of the gig economy is

that it will keep the courts busy in 2020. blake? blake: it will keep the courts business -- busy, jonathan. as i understand it from the last part of the statement, the argument from the companies that other gig economy-type jobs are not subject to the new law in california. they think that is why it doesn't fall under, it is not really being lived up to, clause of the constitution. >> certainly in the case of uber, uber thinks this law is all about uber rather than the gig economy as a whole. uber obviously has been targeted not just across the united states but around the world by certain local jurisdictions that don't like the way it does business. uber thinks that that's what this is about. they believe they are being treated and targeted unfairly, blake. blake: good point. headaches all around the world for uber. california now just one of them. the litigation begins. jonathan hunt in california.

good to see you, jonathan, thanks. the race to shop online putting many iconic brands off-line. next hour, new warnings, the retail apocalypse might just be starting as "cavuto: coast to coast" returns. ♪. ...

>> december 31, 2019 good to have you here on the last day of the decade welcome back to cavuto coast to coast i'm blake burman in for neil cavuto. wall street an main street continues to close out the year and the decade strong stocks on pace for the best year since 2013 unemployment at a 50-year low but many democrats are fram ing this economy as something that is not working for everyone. listen. >> middle class is getting

crushed and the working class has no way up. >> why is america's middle class being hollowed out? >> now it is time for wall street to come to the aid of the middle class of this country. >> i know i'm called middle class joe and in washington that's not meant as a complement >> blake: the former trump senior economic advisor steve moore joins us now on how the middle class is doing in the middle of this debate. hello, good to see you in person >> good to see you too. >> normally see you at the white house buffets to face i'll take it. when you hear those comments you think what? >> well it's a tough sell for the democrats right now frankly. i mean, they are running against a president in a booming economy as you just said record stock market but look it's not just record stock market and it's not just the fact that we have 7 million unfilled jobs which is the reason the wages are rising. the story of this economy really is how well it's doing for the middle class. i had a piece in the wall street journal six weeks ago showing that according to census bureau

data the average middle class family has $5,000 more income than they did just before trump was elected. that's a big increase and then what's been reported just in the last week or two has been that the wage gains for the people near the ballot are actually, that's telling us by the way is income inequality is actually declining right now, so the democrats are kind of grasping at straws here. >> blake: when you look at the polls though the numbers aren't as strong as you'd think when it comes to how the president is handling the economy though, why >> well it depends on what poll you look at. the cnn poll, and by the way as you know cnn is hardly friendly to donald trump, their poll shows 76%, three out of four americans rate the economy as pretty good or great. that's a very very -- >> blake: but when you look at other polls as well how he's doing on the economy, it's not starely a 76%. >> i think part of that is because a lot of people don't like donald trump so if people

say oh, things aren't going well even though they are, but ultimately, people do vote their pocketbook, let me give you one example. look at the christmas season shopping. anybody who went to the malls, or to stores, you saw just floods of people. we've got where you saw big increases people are spending more, because they have more. >> blake: why do you think consumer confidence the rating came down today then? >> i didn't see that. but the fact is consumer confidence has been high for three years, so a slight dip does not concern me. i think people feel good about the direction of the country, and i think people feel good about their current financial situation, and you know, we will see whether that can sustain itself in 2020 but i think it can. look, what the trouble signs that i was worried about like this trade situation with china, the fact that we now have this truce in this trade deal that takes a big cloud off the

horizon for 2020. >> blake: i'll get to that in a second but i want to get to the article that you wrote that's up on foxbusiness.com. here is what you write. you say, "we have become so rich as a nation that even most poor families can buy dolls and baseball bats and $100 nike basketball shoes for their kids as well as cell phones that have more computing power than every computer used to put a man on the moon. it is nonsense you say to say the poor and the middle class are worse off than they were 20 or 30 or 50 years ago. " you say we have become so rich as a nation, but what would you say to the families out there who can't necessarily afford those $100 basketball shoes for their kids or three or four or five kids? and they say you know what? they say the story is about mark zuckerberg making 27 billion and bill gates making 23 billion and they say what about me? >> there's always going to be people who get left behind in the economy. what i'm looking at is what's happening with the average families and they are doing a lot better and doing better in no small part because when you create a very tight labor market

, it allows workers to have more options in terms of where they work and they can bid up their wages and that was precisely why we did the tax cut one of the things that annoys me is if you read the new york times oh, this big tax cut for rich corporations and rich people, no this was always designed to help american businesses succeed. one other statistic that you'll see this week, one of my favorite ones, $1 trillion of repatriated capital. you guys reported that on fox business news. that's a giant number, $1 trillion coming from france and germany and china and mexico >> blake: what about 1 trillion in debt? >> well look that is a problem but look what's happened to our assets relative to our debt? the assets are rising faster than our debt, and if your income is rising faster than your debt you don't have a problem. it's when your income is following and your debt is going up and don't forget we have record low interest rates right now so that means the servicing class are much lower. >> blake: hold that thought for a second because the stocks are climbing so too as we just

talked about the national debt record $23 trillion at the start of this decade it's like 11 or 12 trillion its gone up almost twice as much, to the former investment banker carol roth who says the strong economy now is the best time to tackle debt, and spending. carol? thanks for joining us, you've heard a little bit of that. i know you say now is the time, but as i sit here in washington d.c., with the capital behind me , you know the reality of it, and the other end of pennsylvania avenue down at the white house. that ain't going to happen any time soon no matter if there's a democrat or republican who occupies whatever building. >> i know and this makes me want to put my head through the wall because you have all of these people who purport to be fiscal conservatives when we had obama in the white house they say we need to reign in the spending and we do need to reign in the spending. our deaf this this past fiscal year was almost $1 trillion, and it is completely unacceptable. if you go back to 2001 the federal government spent $1.9 trillion, and we have a 15% increase inflation, but 137%

increase in the spending to $4.5 trillion. why does the federal government need to be spending that much money and where are all the fiscal conservatives saying this is too much. >> blake: carol i want to bring steve in here, because she makes a great point. there are conservatives all over washington, who for years pointed their finger at the obama administration and said you're spending like a drunken sailor. some of them are in the white house, right now, and the chief of staff at the white house was one of them. what do you say to those who say so-called fiscal conservative because they are running up debt left and right. >> let me just clarify one thing because everybody has to know this. again read the new york times or listen to joe biden, they say the reason we have this enormous deficit is because of the tax cut. here are the numbers. in 2019 fiscal year 2019 that ended september 30, federal tax revenues to the united states government were higher than any

other single year in american history. so my point there, i mean, carol is right. carol you're right. we do have a problem with these deficits, but it is not a result of the tax cut. it is a result of both parties, democrats and republicans, spending too much money. we've got to keep the focus on the spending not the borrowing. >> and i will echo steve. steve scalise 100% correct. the revenues did increase 4%, it shows that the tax cuts work, so the revenue side isn't the issue , but the spending side is a huge, huge issue and the fact of the matter is we have a good economy. if you do not tackle this now you're never going to be able to do it because once the economy turns down, you can't have oster ity, that won't work from an economic standpoint and certainly not from a political standpoint so if we're not doing it now what's going to happen? >> carol what worries me though is americans should be listening to what the democrats are saying , and on the presidential. >> but they should also be looking at what republicans right now are doing, because --

>> i'm not going to defend what republicans have done on spending. it is indefensible. the democrats if you look at their agenda, green new deal medicare for all, expand social security benefits, free college tuition we're thinking about trillions and trillions of dollars additional debt so the problem carol is neither party want to do anything about spending. >> blake was exactly rightist hitting the nail on the head. we expect this out of the democrats. the democrats are very clear. they want to spend every last dollar that you have, but the problem that i have is that the republicans say we are fiscal conservatives so this is part of our platform, so if you are not going to be the ones to do it who is going to do it and then at least be honest about it. just say you know what? we've given that up that's not part of our platform any more and let somebody else have that platform, because somebody needs to be the adult in the room here >> yeah, i don't think you'll hear it but probably the reality of the situation and carol we have to leave it there. thanks for joining us, steve, good to see you as well happy new year to you both, thank you.

>> well the chinese tech giant tencent buying a stake with artists like drake and the beatles. deirdre bolton has the latest from the floor of the new york stock exchange. reporter: that is right blake as if we needed more proof that content is king so 10% that should be worth about $3.5 billion if you like and this is going to give tencent basically a bigger footprint in china, bigger access to a streaming catalog you mentioned some of the stars they have a ton but lady gaga, taylor swift came to the top of my mind and they also have some classics, the beatles, and queen so it's of course the purchase is subject to regulatory approvals but because it is not necessarily a sensitive kind of industry if you want to deal with technology most people say you know what this should probably go through both companies saying they hope that it wraps by june 2020. now, universal is literally getting paid for its deep inventory, and following up on this content is king rule, we

can extrapolate that and look to some of the streaming services that we've been following, disney as we know has made numerous acquisitions in the past few years, with the hopes income that it will feed disney plus customers for years to come if we go down the list, marvel, lucas films for star wars, pixar , most recently the entertainment assets of fox, disney as we know has six, count them, billion dollar movies this year alone, so hopefully, seed ing that disney plus echosystem. netflix also saying recently its own content so what it is paying to produce itself, tops all 201o it's a sign at least temporarily that the companies are very aggressive investment for the moment is working. now the stocks a little bit higher today, i just want to highlight this one though because it is a number one, top performer of the decade, on the s&p 500, off of 4,000 percent so that's a pretty healthy return, comcast is taking a quick look,

nbc's universal peacock launches in 2020 so joining the competition if you like in this streaming space, as we know apple tv plus has already launch ed and then more of the traditional networks as we're used to calling them, blake is having a bigger presence in 202. >> that's 4,000 percent netflix number is mind boggling to think about but it's true. what a run for them. >> it's almost blake burman money. >> i don't know about that but i'd hope so. deirdre bolton, thank you, appreciate it. >> sure. >> meantime coming up on cavuto coast to coast, joe biden is he now getting bipartisan? what he has said here in the recent 24 hours or so about a potential runningmate, and will that runningmate have an r or a d next to their name? wait until you hear the comments >> ♪ pump it, louder! pump it, louder! ♪ most people think of verizon

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>> his main message is two-fold which is trump has to go and that he, bloomberg is a credible alternative, solid, stable, rational, not given-to-flights of fancy. >> blake: well the democratic presidential candidate michael bloomberg says if he wins the white house, if he gets to 1,600 penn, he will turn the ceremonial east room of that building into an open space for his team, and that he will only use the oval office for official functions, though not sure exactly how that might work, could you imagine taking a phone call from a world leader, and the staffers next to you, who knows but that's what he says, interesting idea, joe, michael bloomberg on twitter yesterday meantime joe biden talking about whether he would choose a

republican as his vice president >> our 21-year-old son said the other night i wonder if joe biden would consider choosing a republican as a runningmate. >> the answer is i would but i can't think of one now. >> [laughter] >> no, no, no, now listen. there are decent republicans out there but here is the problem right now of the well known ones they've got to step up. >> blake: former bush 43 speechwriter annika green, phil wegman and b. riley wealth management invest strata gist paul dietrich. happy new year. >> absolutely. >> blake: phil what did you make of that? >> first of all, there are not a lot of democratic primary voters clamerring for a republican on the ticket right now and also there aren't a lot

republicans who would clammer to be joe biden's runningmate because if you remember joe biden isn't exactly moderate. he's only moderate in comparison to the current field right now and i think that if he was to make that jump, if he was going to try and bring on some republican, if he could find one there would be massive differences not only on social issues but also fiscal issues. >> blake: annika, you worked for president bush 43. do you think there's a republican that would take-up joe biden on his offer? i don't think many people take what joe biden said yesterday as something serious. it is a campaign, it is getting close to the primary in iowa, but would anybody even take him up on that offer? >> so i heard the comment we know it's meaningless but what about john kasich ic? we know he's endorsed trump and if he could bring support in the rust belt, particularly ohio. >> so you said maybe one, did i translate that correct? >> yeah, maybe mitt romney although he's pretty comfortable

right now, and john kasich just finished his ubenatorial term and looking for something to do. >> i've got the answer. michael bloomberg used to be a republican, he would be able to fund the campaign at a level where the democrats could actually outspend trump, which nobody thinks can happen with the regular group now, and he could be biden's attack dog. >> blake: he would also be second fiddle and i don't think michael bloomberg, i don't think he would be comfortable playing second fiddle after the life of building up what he has. >> he keeps saying his whole purpose is to defeat trump, and think about this. you have two queens new york junkyard dogs and they are going to go after each other, punch for punch, and bloomberg can do that with trump. that's going to be the best reality tv show we've ever seen. >> blake: it would keep the

reality tv somewhat going for what we've seen here with the last handful of campaigns and cycles meantime let's turn our attention to u.s. housing and development secretary ben carson , speaking with lou dobbs last night addressing the homelessness crisis and who is responsible. listen to these comments. >> it's going to require local authorities and the state to cooperate. stop throwing firebombs and wanting to actually get this thing done. >> so the blame game continues here, it's a very serious problem. >> and the sound bite make sense for a white house on a philosophical level and a political level because what's happening is the white house wants a federal approach to this problem, they want local answers to this problem here, but also, it gives the president going into 2020 because what he can do is look to a national economy that is booming and to contrast that with what's going on in blue states. >> blake: you say the white

house is approaching but ben carson said it is not the responsibility of the federal government. when you go to the hud website, anneke, and i quote from the federal government website, "hud serves over 1 million people through emergency, transitional and permanent housing programs each year. " it talks about how it uses housing choice vouchers to help low income, elderly and disabled with private housing and money that eventually goes to public housing agencies, and those pha 's are allowed to give preference to the homeless. so to say it is not the responsibility of the federal government, that's not what the federal government's own website says and there is an issue there for ben carson with those comments. >> there is an issue. he's trying to i think make us switch and we saw what president trump then said was well look if the governors would ask nicely then maybe we would increase section 8 and the way section 8 works is the federal government gives money to the states to make up the difference between fair market-rates and what a low income person can supply. >> blake: and bill deblasio

says new york needs more section 8 help from the feds and the president says the feds should jump in should they jump in even though it is part of that responsibility. >> if you look at the statistics homelessness is up 16.4% in new york, it's up equally in san francisco, and at the same time, in the other 48 states, on average, it's declining, so two things are happening. one, either all of the homeless are moving to new york and san francisco, or in other cities, people are actually dealing, local mayors are actually dealing with this problem, a lot more effectively than we're see ing in new york. i think it's a way to kind of shift the blame for failed policies up in new york and san francisco. >> blake: got to leave it there for one second going to have you stick around lots to get to still. it's a record year of ceo turn over, but that could lead to big turnarounds, how the tide might be turning we'll take a look at it after the break.

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>> blake: this was remarkable because all of a sudden he was just gone suddenly out of japan and lots of questions as to how he got away. the ex-nissan chief fleeing from lebanon to japan citing japan's rigged justice system and lebanon is saying today that gho sn will not be subject to legal action and comes as a record year for ceo turnover comes to an end, many major ceo 's shown the door at big-time companies, jackie has some of the biggest ceo shakeups we saw here in 2019. hi there, jackie. reporter: good morning to you, blake. the year of 2019 saw the most

ceo departures since firm challenger at christmas began tracking this data back in 2002 and fox business compiled a list of the 13 most prevalent ceo departures and the five i thought were most impact full, first you had dennis muhllenberg , of boeing after the company faced a crisis with a 737 max jet and it said replacing him with david calhoun would provide a fresh start and ability to repair its relationship with regulators and its customers. hopefully to restore some trust and then of course there was adam newman of we work. now, wework didn't move forward with its ipo, because newman made investors nervous. his behavior was unpredictable and erratic and a change was needed to restore confidence. we don't necessarily know that it's back, and meantime, the third one was steve easterbrook of mcdonald's. he had such a positive impact on this company and the stock price as well but a consensual relationship with an employee, it was a violation of company

policy and he had to go. chris kapinski took over for him and fourth was jewel labs ceo kevin byrne, who resigned in september and blamed flavored e- cigarettes for the surging use among young people and he was replaced by an executive at altr ia group, who has a stake in jewel and finally, larry page from alphabet google, ceo, and this is the company that faces most likely regulatory challenge s next year and a lot of people think larry page wanted to step away from that. will be interesting to see how the stories play out. >> jackie, speaking of interesting we don't have any details on carlos ghosn, right? it's just like he left japan and now he's in lebanon and we don't know what happened in between right? >> that's pretty much all we know. we don't know exactly how it happened but it certainly sounds like a calculated move and we reported at the top of the segment there won't be any repercussions he doesn't have to

go back. >> we'll see. jackie, thank you and happy new year to you. >> same to you. >> blake: well, coming up 9,300 and counting potentially, could be a record number of retail store closing and why some experts say that happens to be giving the mom and pop shops a very big opening. >> ♪ ♪ as a struggling actor, i need all the breaks that i can get. at liberty butchumal- cut. liberty biberty- cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need.

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>> blake: celebrations all across the word continue these are live images right now, bangalore, in yeah as they are ringing in the new year there, did so about a half hour there, the party still continues and probably will throughout the night, 10.5 hours to go on the east coast until the big ball drops in times square, meantime a decade of retail decline as many iconic brands shut their doors and the pain could potentially continue into 2020. grady trimbull is outside of a shuttered fears in chicago. grady? reporter: blake, more stores closed their doors in 2019 than ever before. 9,300 store closing to be exact and sears of course is one of them. sears which owns kmart as well had a pretty rough decade. they closed more than 2,000

stores and other retailers were toys "r" us that had to close more than 800 stores and since reopened two stores after rebranding and changing the shopping experience. blockbuster as well, remember them? they were still around back in 2010 but since have closed 1,700 locations. payless shoe source closed almost all of their locations, gymboree, sports authority, the list goes on and on but it was a triumphant decade for some retailers. take a look at lululemon stock for example, that has climbed more than 1,000 percent in the past 10 years, ulta beauty also had a good decade and home depot did as well with the recovery of the housing market. 2020 on tap, some retailers are still in limbo, and ironically in this closed sears parking lot , are these trucks. this is the company to blame for the changing face of retail across the country. some of the companies that are planning more store closures

include of course sears, forever xxi, pier 1 imports so a lot on tap for 2020 and store closures still coming down the pike. blake? >> trade it trimble, an amazing shot with the amazon trucks in the sears parking lot. thanks, appreciate it. >> so could we see more retailer s at risk of shutting down? to the former sachs chairman and ceo, along with our panel here who will chip in. steve, that picture there with grady, i think, shows it alan empty sears, some amazon trucks. is it as simple as that this morning? my two-year-old wanted something to make him happy and i pulled out the phone and went to amazon people like me and stories like that, right? >> well i think that it's an indication that retail is healthy but it's very different. some people want to shop online and a lot of people still want to shop in-stores, but it's not the traditional brick-and-mortar stores like sears that are doing well but you have a lot for

example,, lululemon which is doing extremely well so retail formatter card grew 3.4% on top of a year ago 5.2% so we have a healthy consumer coming into 2020 except it's very different and it's not just about the brick-and-mortar. >> but those brick-and-mortar numbers too according to mastercard it was 1.8% down for those, for retail stores as well though, right? >> well you had 18.8% growth on e-commerce, and still on the brick-and-mortar you have winner s and you have losers. the ones that are winning are stores like walmart and target that are omnichannel where they have a terrific brick-and-mortar experience and you have the buy online pickup in-store and things like that. >> blake: do you need to be like a lululemon? it's a relatively new company or at least the pop-on i feel like within the last four or five years. do you need to be something that successful to be able to withstand brick-and-mortar long term? >> well i separate brick-and-mortar from brands. lululemon is not just a retailer it's a brand. it's a very differentiateed

consumer experience and brands are doing very well. it could be lululemon, it could be any number of brands. retail, you think about as lululemon could be selling it through their online presence or doing it through a brick-and-mortar, so first, brands are very healthy. secondly, retailers that offer a differentiated experience are doing very well. consumers want experiences. look at the data. restaurants are doing very well. electronics are doing very well. this all came through the mastercard data, so it's really about an experience that consumers want. >> blake: steve stay there bringing it back to the panel here just curious last thing you bought was in-store or online? >> i did all my christmas shopping on amazon prime. >> amazon prime. >> i did both. i was in a brick-and-mortar on christmas eve. bad mom here. >> [laughter] >> blake: not at all you got it done. >> bear in mind guys that 85% of all commerce was done in a physical store during the

holiday season. >> blake: steve, i wonder though because i get gifts online, and then i had to return something in-store, and i sat there in line, and i waited to return it and i thought to myself my goodness, why am i doing this? and it almost just feels like the shift of going into the store now, for some feels like a burden even. >> well i'd say shame on the retailer if they couldn't convert that into a great experience, because they ought to be -- >> i returned it. >> they can then go and sell you something else. >> i returned it and didn't even get the store credit to buy something else and i went online and bought something different. that's what i just did and i think that that's probably what you see. one other question i wanted to ask you steve again real quick afterwards, the panel. as it relates to closing, i think the number is 75,000 more stores could be shuttered by 2026 is that realistic do you think? >> well think about it the u.s. has about four times the amount of retail per square foot

or per capita as europe so you have far too many stores in the united states so do i think there will be a lot more closure s yes you're up on track to about 12,000 this year but again you have about 5,000 openings so you have closures and you have newness in openings >> blake: if you were looking commercial big box is that a space you'd want to be in? >> depends on which one. best buy, costco, walmart, target are killing it right now. depends on which one you're in. >> blake: that's an interesting point and when you talk about lululemon for example , i guess you're right depends on the brand, the experience, and view it brick-and-mortar et cetera. fascinating when you see all of the numbers coming in this holiday season but we have to leave it there. steve, from my old stomping grounds i think you're in miami. used to work literally directly across the street from where you are. appreciate it. >> thanks. >> blake: still to come here coming up on cavuto coast to coast hundreds of iraqi protesters storming the u.s. embassy in baghdad, this is a story we've been following in

the middle east over the last 12 -14 hours or so and now a u.s. defense official is telling fox news that about 100 marines are being sent to that embassy to bolster security. we'll have an update out of the middle east, coming up. ♪ ♪ ♪ everything your trip needs for everyone you love. expedia. by consolidating your credit card debt into one monthly payment. and get your interest rate right so you can save big. get a no-fee personal loan up to $100k.

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>> blake: welcome back to cavuto coast to coast. stocks are shooting up as we've seen this year, this decade but hedge funds are closing up. more closing than openings we believe this year, for the fifth straight year. let's bring in charles payne, host of making money. charles first off happy new year charles: you too thank you very much. >> blake: this hedge fund story is interesting it could be the amount of hedge funds opening up since 2000. charles: here is the thing i guess it looked like a great industry and of course it would be, but imagine getting paid 20% of profits before taxes, and a 2 % administrative fee and then

managing $1 billion, the math is amazing so everyone became a hedge fund manager, and no one was making money, the markets have been so good, and listen, okay, technically, hedge funds mean that you're hedged right so you won't be completely long in a market up like this, but by the same token if you start thinking about it, you know, how much money do you want to pay to essentially break even in the market and do you want to break even when the rest of the market is up 20-30% so there's been a serious pickle and i also think a lot of these more famous masters of the universe types, you know, have became they start writing 25 page reports on why x yz company should be shorter, i think they got over it. >> blake: what's interesting to me about this is when you look at the numbers from this year, 391 hedge fund openings at this point at least according to the latest numbers, 285 of those , 73% are from europe. so the action is happening not here in the u.s. but in europe.

why? >> part of it is because a lot of people keep expecting europe to do well and every year, blake , you know the january interviews with the experts they all say emerging markets i can't wait to get back into europe, and every year -- >> i heard someone say that yesterday and i thought to myself like are you not realiz ing what's happening here? why would you put your money over there? i don't know. >> do it every year it's a guess. this year emerging markets are up 14% versus 30, and 28% for the s&p more for the nasdac and it is what it is, but it's sort of unfortunate but i really believe these masters of the universe, they really started to think about themselves in a way that went beyond their scope of the job and then there was eddie lamper, taking over sears and running it into the dust so i think they did some things that

don't warrant them getting 20% of profits. >> what would you say to some young kid coming out of college, maybe in their 30s getting into finance and say i want to ran a hedge fund. charles: i would say good that's something good to do but i don't know if you'd use the word hedge. i would manage money for folks and try to perform in a way that i don't want to miss out and want someone to miss out on the market up 28% and have any excuses for that, so maybe change the title a little bit. you know, my son, he's studying international business in his last year of college he did venture capital work this summer and if he wants to come into this industry it's fine with me and i hope, believe me, the watches he looks at he's going to need to make a lot of money at. >> blake: if he's 10% as successful as his father he's got it made. charles: if i'm 10% as successful as he thinks he is i'm making more money. >> blake: [laughter] we'll leave it there charles. charles: happy new year thanks a lot. >> blake: you as well thanks so speaking of the new year, might have a drink or two

tonight? maybe. what about brewers? are they about to go belly up? the trend here is interesting, and the age-group potentially is even more interesting. why we're talking about teenager s, after the break. whether you're out here on lte

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and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >> well, we've had some great times. >> ♪ when i was 17, i drank some very good beer ♪ >> blake: i think that's a video of me in high school in college, so brewers beware. analyst cowen is warning beer makers, maybe facing some tough times as more drinkers are turning to spirits and teenagers

, are turning away from alcohol in general. back with our panel here, we know that the drinking age is 21 we also know that teenagers drink right? let's just put it out there but it's an interesting thought that teenagers now are moving away from beer and that maybe these companies need to reposition themselves accordingly. >> i think part of the reason is the beer industry itself, i mean, i blame it on craft beers. if you ever tasted a craft beer it tastes like it's awful. i mean, they have flavored beers , pumpkin beer, raspberry beer, and so this is, i think, a major problem, have you ever tasted a craft stout that tastes better better than guiness? no. it's the worst stuff that you ever drank. >> blake: the other part of

this is as the legalization, or with cannabis, how there is this thought now that maybe it might not be as bad as we once thought it was. that teenagers are now moving to that, more and away from beer less and that's one component of this with all of the legislation that we seen all across the country. >> first of all i'm with you i think we'll look back at 2010 and think why weren't we drinking these and they will go out of fashion but we know that gen z they are more risk averse and i think they are seeing their other options for them to get their kicks. beer is on the way out and other vices are more profitable for them. >> blake: anneke, white clue and truly is starting to pick up market share. >> i'll be the first to admit that's what you drink at the beach and you want to keep your buzz going and not be out by like 11:00 but we know that beer is an acquired taste so i think the younger generations are being honest about the fact that it's not very good.

>> i think it's a health issue too. >> calories and all that. >> and there's a reason why they call it a beer belly. >> blake: well the calories and what people might be thinking come 2020 in a second, but first, before that, of course it's the new year, and there's going to be a little bit of partying tonight and a new app lets users track their blood alcohol concentration levels from their smart devices. this is a new app out there i was looking at it earlier and it basically says like i just had a beer, or i had a beer. it was this size i had one of them and here is an image so on the left-hand side what you drank, on the right hand side how large it was, i presume you put in your height, weight, et cetera. on the face of it, it is a, i think, good idea, but also, we have uber and we have lyft for a reason and we should point that out on december 31. >> absolutely. when i saw this one concern i

had was privacy. i mean that's one of the things that you see there is a guy at the washington post and he started tracking how much information is being gathered just from your daily use. >> blake: then there is that new privacy law in california that takes effect tomorrow and all of these companies in california are having to change. this app, what do you make of it >> maybe this is why the teens are drinking, probably not, but yeah, i am more concerned i was toying around with it earlier on >> blake: what do you have to put in? >> your weight and height. >> blake: do you give them your name? >> no, but i wonder where is this data going and the other thing is there an individual who rather than calling one of those rideshare apps says i'm a little bit buzzed i can still drive. >> but the nice thing is about this, is that you plug in the data. it's really easy to use, even if your tipsy. >> blake: do you trust it though? like i wonder how much. >> it had multiple, if you put in your height and wait and things like that, and they have

multiple alerts that tell you when you've worked off and you have zero alcohol in your system i don't know. i think it's good. >> blake: on this new years eve we should note the national highway transportation administration says drunk driving claims the lives of 10,000 people each year. something to remember. especially this evening. looking ahead, the new year, could it be a new you? it's four out of 10 americans are planning resolutions which include improving their financial situation, eating healthier, and being more active i was surprised that improving your financial situation was only 51%. i thought it would have been much higher than tax >> yeah, well i did, i looked at the top five and spending time with your family and friends, that's always more important, especially personally and not doing it just through text, but one of the top ones was saving more and investing more for their retirement, and as an investment manager i think

that's a great idea. >> blake: but what could people do, like someone says i want to save more money. >> financial advisor. >> blake: if they can't afford it. >> if they can't afford it they probably aren't putting any money away for investing for their retirement. >> i say robinhood. it's easy to use, there's not commissions. they give you little newsletters with snacks, it's very interesting and a good way to learn about the market. >> blake: when you saw those numbers did it surprise you more it was basically on the same as i just want to be healthier. >> it surprised me a little bit but i think this is sort of the white house's new years resolution which is they want the economy to continue to buzz and they want a strong economy going into 2020, and their resolution has to get usmca passed and they are hoping these trade deals will continue to keep things hot. >> blake: that's almost a formality in the senate. all we heard was one republican senator who said he wouldn't vote for it and we're assuming all other republicans would be on board for this right? >> that's true it's a formality

and they want it sooner rather than later. >> blake: what does that scheduling look like? >> that's anyone's guess but we know that mcconnell said he's going to work hand in hand with the white house to give them the impeachment trial that they want they want to go longer or shorter, and it's their perogative. >> blake: we sit here in washington today what do you think washington's resolution should be? >> no more sad news. i think that we have a lot of good news coming out of this last year and i think people are tired of negativity so maybe look at the headlines and write them a little faster. >> blake: what would your resolution be? >> for me to spend more time in iowa and new hampshire but add positive with both of the parties, preparing to go head-to-head in november in 202n saying that now. it's real but positive news goes a long way. >> blake: paul ending it on you here. >> i agree with them, but i think we need to spend less. >> blake: personally or government-wise? >> government-wise for washington.

we need to lower the debt. >> we will leave it there, paul , phil, anneke, thank you all three for joining us happy new year to you. i'll start by saying that, which is how we started. >> thank you, happy new year. >> blake: meantime still to come up on cavuto coast to coast two hours away from ending a record decade for stocks with the dow surging about 172% over the past 10 years you see the numbers on the screen. what a ten years its been. . .

blake: we've been highlighting, rightly so the record numbers as it relates to stocks over the last year and the last decade. take a look at gold. gold closing out 2019 with the

best annual gain in nine years. 1523 an ounce, up 19% this year. we give you a look at times square as the new york police ramp up security measures tonight. new year's eve 2020, make it a fun one and great one. happy new year. over to charles. charles: thank you, blake. blake is right. the end of a decade, a 10-year booming bull market. the big question, where do we go from here? we'll break it down for you. i'm calling it biden's deplorable moment, revealing what his liberal friends think about women of color and taking a shot at miners. >> anybody that can throw coal into a furnace can learn how to program for god's sake. charles: we're talking about the whitey's comments are not only offensive but i have evidence to show they're wrong and not