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tv   Cavuto Coast to Coast  FOX Business  January 23, 2020 12:00pm-2:00pm EST

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that could affect our economy and market over here. i believe it is. the dow is down 170. we were down 200 moments ago. our time is up but here is neil cavuto, sir. neil: thank you very much. we're following up on all the developments, stuart, not the least of which is the impact on the markets. they really don't know how far this goes. we'll get an update about an hour from now the world health organization, whether this warrants a global health emergency or a global watch. we'll get details on that. the uncertainly around this certainly buffetted asian markets, extended to our futures and hitting key sectors within the financial community. one stock we're keeping a very close eye on is this novavax, working on a possible vaccine. nowhere near it, for this particular virus. the stock ran up about 60% yesterday. it continued to raise today. we're also following the biotech community in general as they
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sort of race to come up with an alternative. this happened during sars and ebola. this is sort of a pattern we see with anything connected to any potential cures or vaccines that run-up in advance of one being found or solution being found. meantime, stuart also pointed out, you have three chinese cities, totaling better than 17million residents. that would be new york, chicago in a lock down. you can't get out of those cities. imagine. that is unprecedented. certainly unprecedented in chinese history. jonathan serrie has the latest. reporter: neil, two additional cities they're imposing quarantine measures are on close to the city of wuhan. the measures are similar. wuhan is city of 11 million people. the airport and train station are closed. people are steering clear of large public venues like movie
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theaters and cafes. this coronavirus was traced to live animals sold for food at a wuhan market but the virus appears to spread from human-to-human. chinese health officials confirm, 500 cases and 17 deaths in that country. >> having a strong action not only control the outbreak in their country but they will also minimize the chances of this outbreak spreading internationally. reporter: health officials in washington state are closely monitoring 16 people who had close contact with a man in his 30s who became ill after returning from central china. the first u.s. patient with the coronavirus is reported in good condition and remains under quarantine at this hospital just north of seattle. neil, a spokesperson for lax airport tells us that an arriving passenger on a flight from mexico city was identified by representatives from the cdc and the local health department and taken as a precaution to a
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nearby hospital. this lax spokesperson was not able to elaborate on the symptoms that this passenger was exhibiting or what type of illness this passenger had but lax is one of five u.s. airports undergoing enhanced screening of international passengers as a result of this coronavirus. neil? neil: jonathan, thank you very, very much. we want to let you know in a city of about 7 1/2 million people added to that lockdown list of cities in china. that you can't get in or out of. we are told right now they won't let long distance train or buses run from or two the urban center. and that the shutdown of public transportation will go on indefinitely. so i don't even know if it is possible for those who work within the city to get to work. gordon chang is with us. a lot of what we're looking at, gordon knows very well, are on data the chinese are providing
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given the fact that their record on providing economic data is a little specious. can we trust what they're -- we're hearing here? good to have you. the 650 infected by this or infected by this coronavirus and at least 17 reported deaths, others put it upwards of 20 deaths, do you buy that, that this is largely coming from china? >> by no means, neil. those numbers are underreported. for the last four or five weeks we've been hearing numbers of cases of people, people who have the symptoms are being turned away from hospitals. people who have the symptoms are not being admitted to hospitals. neil: why? >> because no one wants to report bad news. so -- neil: it will be worse news if they're not treated. >> of course that is common sense but that is not the way chinese system works. so also you have people who have the symptoms, who had been admitted to hospitals they're
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not classified having the coronavirus. they say, they quote, unquote, lung infections. when they die there is no autopsies and bodies are cremated immediately. in one case where someone admitted with a lung infection had a funeral, the family couldn't go to the funeral parlor. guys with hazmat suits were cleaning up the parlor after the body was taken away. this is much bigger than those numbers indicate. neil: is it as bag -- big as sars in early 2003? this that case, 8,000 cases reported, better than 800 known deaths and back then authorities were very reluctant to update those figures. only learned then, actually a couple years after the fact. >> right. china right now, you know, clearly is in a case where there are many more cases. so those numbers really don't make sense. people in china, virologists say
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sars is 1/10 of what this will be? neil: really? >> 80,000 cases perhaps. maybe 7,000 or so deaths worldwide. sars killed people in 37 different countries. neil: that's right. >> this is going widespread. neil: this is global issue. if they're doing that, no indication to confirm what they're saying i trust your connections, the fear with sars and ebola after that was that we don't appreciate the magnitude of something until it is too late and by then people have traveled all over the world. we have a case in seattle. one potentially in los angeles. one in singapore. i think now up to 18 different countries. i'm wondering at what point do world health authorities seize on this, and demand more from china? >> it should have been long ago. yesterday when the world health orgization refused to go forward with a declaration worldwide i think that is certainly a
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mistake. neil: they might change that. a category 3 warning to travelers be careful. but this is also the lunar new year, all of that. a busy time for asian travelers, what do you think happens? >> yeah. the golden period what they call this two weeks long holiday starts tomorrow. so every day means lives, neil and we know that china's not telling the truth. w.h.o. news mow that. so just that fact alone means that they should have declared this emergency a long time ago and deferring it to today, that is just a mistake. neil: so, when we get data that comes in, obviously there is, i guess up to a week incubation period you're coming from china under these points, you might not exhibit any of the signs but a few days after you get here or anywhere outside of china, then you do. then it's too late? >> we don't know the incubation for this coronavirus. could be as few as two days. could be as many as 14.
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there is so much unknown. neil: when do they stop you, gordon in an airport? if you have a temperature, right? if you exhibit any signs, there obviously very much interested checking you coming from china, if you don't exhibit the signs you don't exhibit the signs. >> they stop you only if you're symptomatic. you have to remember at lax where they have the family under onization, it receives 40 to 60 passengers a day from the wuhan area. that is one ear port in the u.s. people are fleeing there because of the panic, many of these people are carrying the virus in all probability. just that they're not symptomatic. we have really good health care system. cdc has been almost perfect on this. nonetheless there will be cases in the u.s. in all probability. neil: gordon chang, thank you very much. right to gordon's point, i want to let you know china's provincial health authority, a patient infected with the coronavirus has in fact died.
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this is the confirmed death outside of the province where the outbreak began. to gordon's point, this could be spreading originally beyond the area where it was reported, does mirror sars, to lesser degree ebola virus. i do not mean to connect all of those, just the way it is rolling out does seem to bear that in mind. commerce street capital and ceo and president. dory wiley. it never fails here, in environment like this stocks generally go down in the aggregate, we don't know how far this spreads or how worse this gets. we see predictable runup in biotech sector seems to be holding its own, those close to addressing this. play this out for me. what do you think? >> well you hit the nail on the head. the market hates uncertainty and hates fear. for, plays really well for investors that, just to kind of
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stay calm and pick your spots here. you know two concerns about that virus is, seems to be a twice the rate of sars and i've never heard in history of shutting down, 18, 20 million people on lockdown. so we'll see how that plays out. this will go on for a period of months. so it will create an overhang in the market. you know, it will affect travel. it will affect airlines. marriott, hotels, some things like that, i read where a piece of cabbage is already costing five bucks over there. we'll see how this plays out. at the same time there are other things going on in the market here where we have had risk-on for a while. a lot of good news, there is profit-taking a little breathing. it is almost as if it is giving the market an excuse to sell off here a little bit. neil: that is a very good point. i was saying the same thing. i don't mean to minimize this or mean to exaggerate what is going on in china here but it seemed to be a matter of finding an
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excuse to sell first. you can ask your questions later. one of the groups that kind of intrigued me avoiding this right now, for a while is bonds, or bond related or fixed income, particularly abroad where a flight to quality going on there, to the detriment of stocks. it is kind of a veered flight to quality. what did you make of that? >> well i thought it made perfect sense. if you have a lot of fear in the world where will you go? if you go to the dollar or u.s. treasury. it makes perfect sense for yields to trade down on uncertainty for me. neil: just the obvious because you're an encyclopedia, yields go down, bond prices go up. that is exactly what is happening here. happening globally particularly in china. not apples to apples. one thing i want to get your thoughts on, casino and hotel operators, they're the ones that seem to be getting the hardest hit as a group. i'm talking about wynn resorts with a big presence in macao.
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we have las vegas sands, anywhere down from two to 5% s that an overreaction? in the case of las vegas sands we're talking a very small percentage of activity over there but nevertheless getting hit hard. >> i think that's sector response, travel and leisure. neil: i think you're right. market as you see it in the aggregate, what do you think? >> i'm actually still moderately bullish. we have a lot of good numbers out there. we have wages going up. low unemployment, there is no reason why the market can't continue to have a nice year. we're moderately bullish, if you will. there are some sectors we think are overpriced kind of like 2000. some of the fang and technology sectors are pretty high. when you look at banking, banking record levels of capital, lows of leverage and compared to other sectors, low forward pes. makes different margins. there are places to play very
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attractive going forward. neil: my friend, thank you very much. calming words in historical perspective. of the not surprised i get that for you. thank you very much. even though none of this hit beijing, beijing canceled a number of major lunar year public events to be extra cautious. stay with us. you are watching fox business. this commute's been pretty rough, huh? it's great actually, i've been listening to audible. it's audiobooks, news, meditations... gotta go! ♪
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nevertheless, in national polls just been taken he is underwater against some of his major opponents but in battleground states it is actually quite competitive. despite all the back and forth on impeachment he is more than holding his own. the white house is going to be pounding that theme. blake burman from the white house with more. reporter: president trump set to head to one of the battleground states today, florida, as the president leaves the white house two, 2 1/2 hours time from now. he is headed down to his doral resort in the miami area, to speak at the rnc winter meeting this is quarterly meeting the rnc has, a couple hundred of top republican members within the party, state party leaders, et cetera. the president going down there to talk to those top republican leaders. the last time the president addressed this gathering was two years ago, nearly two years to the day in 2018. that was as the midterm elections were ramping up then
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in 2018. but now the president is one on top of the ballot. so the president is going down to speak to republican leaders. when you look at the numbers, perhaps biggest number the campaign and the rnc points to is this one right here, $195 million. that is the cash on hand, essentially it is in the bank account to spend going forward over the next 11 months until early november 2020, that the trump campaign and rnc have combined together. earlier this week the president's campaign manager, brad parscale told bill hemmer, at this point they feel that president trump is in a much better position than candidate trump ever was back in 2016. >> he is so far ahead where he was in 2016 against clinton. he is so far ahead of these other candidates in fund-raising and in numbers and what we're going to do. and their policies are so far left the american people are not going to want them. reporter: you heard the president mention there he feels
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impeachment essentially is good for him politically. the president also says the campaign, neil, also says what is going on here in washington with the backdrop, with impeachment is good for them fund-raising as well as they have been able to fund raise off many people are seeing up on their screens up on capitol hill. neil? neil: blake, i'm throwing this without with you without any preparation but you always handle it with ease, is there any concern about these polls? they were wrong, so wrong in 2016 but given the economy, given the strong markets today, notwithstanding you could make a compelling argument he should be up by double digits. reporter: you could. neil: wonder if he is nervous about it or folks are there. reporter: two kinds of polls, there are a lot of different kinds of polls, let's break it down to two for argument sake. there is public polls you and me see. and there are private polls the trump campaign and team does internally. when i speak to the campaign,
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they are adamant, every sing time i talk to them down the line, their internal numbers are better than anything we see publicly. whether they are, whether they aren't, i can't see them, their name members, it is private. they are insist that numbers are better than pick a poll out of any grab bag or any day or month. neil: i have internal poll from i am the most popular newsman. reporter: 100% approval rating. that is the ticket. neil: thank you very much, my friend. house impeachment managers are set to resume their opening arguments t could go quite late. fox news contributor liz peek, stepping way back from all of this to get the big picture. looking at it all, first on the market reaction, this is all a china thing, maybe an excuse to sell, the whole coronavirus, very little anything to do with impeachment and that has been
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consistent. >> that is probably the only impartial arbiter of the mood of the nation, right? what investors are doing. neil: these people are betting with their own money. >> exactly. investors have absolute zero interest in impeachment, why? because they know the outcome. everyone knows the outcome. i said to you before, every step of the way it gets worse, adam schiff is telling the same story over and over again -- neil: 2 1/2 hours last night. >> 2 1/2 hours, i thought my mind was going to explode. there is no change in the outcome. there is not even now any new materials which i guess maybe why they want witnesses to spice it up a little bit. the result they have gone now to total hyperbole. adam schiff talking about how, this was such a dangerous thing president trump did because now we have to fight the russians there instead of here. if we didn't give the ukrainians these missiles. we can't trust the 2020 election now, oh, my gosh he subverted the process. i don't really think most americans believe that. neil: this is little weird, i
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don't know where you stand politically on this, i didn't hear many democrats say boo when president obama -- >> no. neil: did not respond to the russian invasion of ukraine, taking crimea. >> right. neil: there were sanctions and the rest, truth be told, let's be consistent. >> obama did not give acrimea. we did nothing to stop the takeover of crimea. i have to say during that entire time, people were arguing legalities of it, doesn't anybody care this nation taken over part of a sovereign nation? it was ridiculous. totally to your point, the answer we can't go backwards. americans want to go forwards. they want some idea what candidates on both sides of the aisle are offering them in the next four and eight years, right? i really think this constant relitigating, oh, my gosh the russia-gate, what hillary clinton did, what obama did, we all know that's why minds are made up now on impeachment. what's staggering -- nothing is changing. neil: right. it will be very partisan
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political affair. >> yes. neil: might be something developing i'm missing here. i don't know if that changes, regardless of your views? >> i don't think it will change, that democrats are totally bluffing they want witnesses because no way republicans will allow them to bring in people they think are injurious to trump without the republicans bringing in people injurious to the democrat cause, joe biden, hunter biden, maybe adam schiff. neil: democrats want to bring up something embarrassing for the vulnerable three or four senators so they can flip the senate. >> i think honestly americans are just sort of so worn out with the partisan bickering and all the polls show that. you were talking about polls earlier. that is the one consistent thing. they hate the swamp. they hate all of this, you did this, you did that, where does that get our country? nowhere. neil: like my italian family. they're always arguing. >> anyway -- neil: thank you very, very much. enjoyed you earlier today. when she puts you down she does
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it in a gentile way you don't realize, i've been put down. neil: the dow is down 123 points. update on burger king, the whole plant-based trend. i think they signaled it is a fad, after this. ♪. at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. stay resthe new rx,the icon thatcrafted by lexus. lease the 2020 rx 350 for $419 a month for 36 months. experience amazing at your lexus dealer.
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neil: year ago no one knew about you guys and now everyone knows about you and it is imitating you guys. >> it is incredible. we launched at las vegas consumer electronics show impossible burger 2.0. candidly i don't think anyone on the planet anticipated the unprecedented demand we've seen. neil: well the news there, it was introduced at the consumer
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electronics show. apparently all of this is news to burger king. the fast-food giant apparently cutting the price of impossible whopper make up for what appear to be slumping sales. deirdre bolton has much more. what is going on here? >> that's right, neil, exactly right. the slumping sales are making burger king rethink the strategy with the faux meat, meat alternative product, however you want to put it. store sales dipped to fewer than 28 sandwiches per day, compared to 32 per day, these are all averages compared to when it was introduced. the they are putting two for 6-dollar discount menu on temporary basis. previously the price was 5.59 per sandwich. the strategy, thinking here, if you don't like it, maybe you like it if it was cheaper. shares of beyond meat, competitor of impossible foods, down as much as close to 5%. earlier down even more. steadying out a little bit.
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one analyst told me. he is not surprised sales are falling. fatigue sets in after the initial buzz of any new product anywhere for the launch. you remember there were impossible related promotions. included free delivery. included free samples. for airport delayed passengers, people were going around offering new samples. burger king's peers not slowing down in experimentation. starbucks is exploring meat alternatives for breakfast menu. mcdonald's is testing alternatives for canada. nestle and cisco, they are finding way to be in the meat alternative market. oddly enough, neil, americans are eating more fake meat and ating more real meat. we have stats on the screen from the fda, consumption of red meat and poultry is expected to rise this year, look, 225.6-pounds
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per person this year from 224 and change. ubs by the way had a note out this morning saying, even at burger king even though the impossible whopper sales were lower they had nothing to do with regular whopper sales. we're basically all still eating everything, neil. we're omnivores. neil: everything and all the above. i have a feeling that is not your food pyramid. that is my entire food pyramid. >> that is the not the entire. come on. neil: deirdre bolton on that. new york giants quarterback ely manning is calling it quits. how he became the highest paid player in nfl history and who i got a phone call to wish him well, another new york icon, after this. ♪.
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it's what you do. i can't get it out of my mouth! if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. dog, dog, dog. neil: southwest is feeling the pinch. profits sinking there. 737 max costing the the airline. that is big $828 million last year. >> that is big percentage. ceo blaming the boeing 737 grounds. he went so far to say if the planes weren't grounded, they could see profits climb 28%
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higher. overall they are the largest buyer of the boeing 737 jets. they have 34 in operation at the moment but the ceo says maybe they need to review the strategy given boeing is their sole provider, their sole supplier of these planes. in a statement the southwest ceo said we continue to incur financial damages in 2020. we will continue discussions with boeing regarding further compensation. the reason he is saying that originally southwest believed the planes would be back in the air in june. they know they will have to review the timeline much like every airline that uses the boeing 737s. if you're wondering, seeing the stock, boeing, we were talking about southwest, what is the street saying? i saw two new reports came out, analyst reports. cfra is holding their position. keeping a hold of the price target of $59. you have new constructs which has a buy. that quotation for credit suisse is really to point out that is not a new report.
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they're still holding their neutral rating but haven't updated given the new earnings. costs mounting in 2020. so that is sure to hit the bottom line. back to you. neil: i suspect there will be others. kristina, thank you very much. big news in the new york metropolitan area and around the nation as well, eli manning retiring after 16 seasons. he was the nfl's highest paid player, making record $252 million in salary during his career. to envelope great and team work author chris. he joins us now. i was going to ask him some questions, shook hands he crushed it. it will be a kissy interview. good to see you my friend. >> good to see you. neil: what do you make of that? i think he has years left in him. what do you think? >> i think i have years left in me. nfl stands for not for long.
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the career is around three years. neil: is that right? >> he played 16 is remarkable. leaves with four nfl records. 16 giant records. two super bowl rings. there was concern when he came into the league 16 years ago, will he be under his brother peyton's shadow, his dad's shadow,. this is dynasty family. the mans will go down as greatest quarterback family in history. there are other dynasty families in the lineman world it was matthews family. they played over 20 years. he has quite a legacy he is leaving behind. neil: i have always felt like it was just cruel how he had to be benched this season, as if the backup did anything better. it just ached, you know? >> it's hard. it is emotional. you grow up playing a game that matters because for the love of the game. when you get in the nfl it is about putting butts in seats and
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selling tickets and winning championships. neil: new york press can be very tough. >> no, they're very forgiving. he went through it. typical for par for the course. it is tough. neil: he could have gone other places? >> i think a lot of teams would look at him. he knows when to leave the party. i think it's smart. neil: yeah. apparently he got a phone call from derek jeter who wished him well. two iconic new york athletes, widely respected. i didn't realize both bucked each other up with their tough period. kindred souls. >> just like in business, great leaders inspire other great leaders. when you look at der ely, who could bench more or throw farcest. none of them are on the list. if you look at perseverance, dedication, discipline, all the things you can't measure, you see why both of them had the amazing careers they had. i think athletes make the best
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business people. those instinctive kills engrained in them. neil: team owner, you can do anything. what do you think he will do? >> i think he will have his pick. i think he will take time off. he has a little bit of money in the bank. he will be okay. neil: a little. >> i think he will take his pick with commentating. he will have endorsements. trying to do things with his camps, like his older brother does. the manning family is known for giving back. they made an impression. he is model athlete and role model for america's youth. the really type of athlete we should be looking towards for modeling the future after. i'm proud of him. i'm inspired by him. despite the fact i'm a patriots fan. neil: you read my mind. tom brady, what do you think he does? >> look tom brady is in a unique spot. physically able to play. he is the face, legacy of the patriots organization. his house went up for sale. he is open to looking at teams.
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i just don't see tom brady leaving new england. however i thought i said i would never see michael jordan leaving chicago but he left. it is up for grabs. i think the patriots will make a hard run to make sure he stays in new england. you just never know. neil: you never know. chris, thank you very much. the questions weren't too tough, right? >> it was okay. you give a good handshake. neil: meantime we're looking at a lot more going on here. we're seeing those on the hill respond to preparation for the continuatino of impeachment hearing begins about one p.m., 20 minutes from now. in the meantime grady trimble taking a look at aircraft, well in this case, a boneyard. grady. reporter: yeah, neil. some people call it a boneyard but it might surprise you to find out a lot of the planes here actually have good bones. we'll tell you more next. ♪. ♪
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♪ neil: what if they can't get away? what happens to military planes after they're no longer used? grady trimble is at davis mountain air force base in arizona with a look at just that, grady? reporter: neil, we're pretty much in the middle of the desert and as it turns out the desert is a great place to store planes because it has dry air and sturdy soil so the planes don't sink into the ground. they keep thousands and thousands of planes here. 3200 of them. different types. colonel barnard overseas the entire process. keeping planes here you do repairs and up grades. that is what we're seeing as well? >> we absolutely do. we're seeing five different kinds of airplanes in the shelter that have nothing to do with the storage mission. they come from a unit.
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get modifications or upgrades and they go from here. never stay in the desert. reporter: these planes are from the early '90s. i imagine technology has changed. that is why think needed much-needed upgrades. >> aircraft are get constantly upgrades across the different fleets. we're getting wings to t-38s and a-10s with different upgrades as well. reporter: thank you, colonel. ones that don't get back in the air, they are used for parts and sit out here in the desert. grady? neil: wild, thank you. thank the colonel as well. my next guest says the spies revolution will be the next indugs city maybe the largest industry in history. to hedge fund manager cody willard. space, you could argue in the '60s, '70s had the big moment. you say it will not happen again. you disagree.
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>> well, neil, if you look back in the decades, 50, 60 years ago, it was governments, it was only governments that had the money to do any space exploration, to do space anything. you fast forward to today, you have people like jeff bezos and elon musk who are worth hundreds, tens of billions. jeff bezos is worth $100 billion plus. they can fund their own space programs. and that is what we've got. not only that, but the technologies themselves have developed to the point that they are cheap enough, that we can do it in a private market. there are companies out there doing 3d printing rocket ships in the private market. that was never, you know, before, in the history of planet we didn't have 3d printing. we can do it in the private market. we don't need the government to fund this. neil: who are the beneficiaries or what group sectors would be the beneficiaries? >> well, there's a couple of purist plays in the market.
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virgin galactic has been a stock on fire, almost tripled in the last 90 days, maybe. i spent the last six to nine months studying the space revolution in the space industry. most of the invests are still in the private sector. jeff bezos' blue origin is one which is he pretty much the only shareholder along with some of the employees. spacex from elon musk, my hedge fund invests in that one. but in the public markets it is spce, virgin galactic is the pure play and aarg, makes a rockets. that 60-year-old company helped supply rockets to the apollo missions. neil: cody, thank you very much. good catching up with you. all right, in the meantime we're focusing on three americans killed in a deadly plane crash helping australians fighting wildfires. we have a live report coming up after this.
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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.
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what's your idea? i put it out there with a godaddy website. make the world you want. neil: three americans killed while fighting the australia wildfires after their water tanker plane crashed. benjamin hall has more. reporter: neil, yes, good afternoon. this is tragic. three american firefighters flown halfway across the world to help the australian colleagues fight the worst fires in history and. it was c-130, capable of dropping 4,000 gallons of fire retardant in a single pass. they were flying low in smoke with turbulence. it happened south of australia capital, canberra. the cause of the crash is not known. it was leased from a aviation firm, coulson aviation. 200 arrived in australia to help
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battle fires last month. they were given a hero's welcome when they came. now australia is mourning the death of these three heroes. >> today is a stark and horrible reminder of the dangerous conditions that our volunteers, our emergency services personnel across a number of agencies undertake on a daily basis. >> the crew on board were well-known. their heart are hearts are with all those suffering what is the loss of three remarkable, well-respected crew. reporter: since september australia has battled the bush fire crisis which now killed at least 33 people including 8 firefighters. more than 16 million acres, that is an air larger than west virginia has been destroyed in blazes. there was some rain last week which help ad bit but fires are now raging again and flags are going to fly at half-staff across the region now in memory of the three firefighters. the wreckage has been identified and found. the bodies have not because it remains in the middle of a fire
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sown. neil. neil: incredible. thank you, my friend. president obama mostly silent throughout early stages of this election but charlie gasparino is reporting that certain candidates are urging him to speak up. what have you got. >> he may speak up we're hearing. it is not definite. we should point out a little background. former president obama has not said much about the campaigns since november. i think in november he came out with democratic donors and said, you know, i'm going to paraphrase, but the party is going too far to the left. you don't want to throw the baby out with the bath water. there is stuff to do, a veiled attack against bernie sanders and elizabeth warren. neil: right. >> now as, bernie sanders rises in the national polls and some polls even beating joe biden, his former vice president, what i understand from people who have spoken with barack obama, he is getting increasingly anxious and you may see soon another statement of that type, or maybe something even more
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direct attacking sanders. i don't think he will go as far as as that. but what i'm hearing from folks that have spoken with obama, he is really worried about sanders. it is a bridge too far given all his policies and his temperment. bernie, you know, hillary clinton said this to "the hollywood reporter," no one could work with him. i could tell you that is along the lines of what president obama thinks. he is a very difficult guy to work for, not only that -- neil: whatever the passion of the party is, you risk boomeranging yourself? >> you do. he feels the far left of the party believe it or not never endeared itself to barack obama and felt he never went far enough. in reality barack obama was more of a centrist than many people here gave him credit for. neil: by the way, compared certainly to this group. >> to this group, this is adam smith. i mean, so he is worried about sanders and sanders winning and
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basically beating, you know, taking the party to places that he doesn't think it should go. and, again, he does also believe sanders can't beat, can't beat trump in the 2020 -- neil: they don't buy a lot of polls show nationally, all the candidates including sanders beating the president one-on-one. i think you and i gotten to the fact you don't trust any poll at this stage. >> if he is worried about sanders now, he is thinking he could be the democratic nominee. i think that is bad enough. neil: right. how would wall street take that? >> that would be horrible. neil: how would wall street say he is the nominee? you could do the flip arguement, they would welcome it, that they think the president could easily defeat him? >> that is good question. i don't know. if you look at bernie sanders's positions which every american should look at what he stands for, he is so far out there. he is even more far to the left than elizabeth warren who is pretty far left. i hear obama, who was never a big fan of warren, vice versa, can live with her.
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he is telling people he thinks that she could be a decent president. and she can line up for middably -- neil: taxes are higher than his. >> at least she is looking to pay for stuff. his, he is literally giving stuff away. it's, it is so far out there, it is not funny. listen -- neil: he is in the obama camp's eyes lesser of the potential evils? >> she is. she is. obviously they would like biden to win. what i'm hearing from the obama people that the former president is worried that obama has the stamina to do it. this is really interesting, huge impletionion of the democratic party coalition. used to be if you think about it, working class whites, liberal whites, african-americans. neil: not that now. >> woke millenial whites who are far more liberal than anybody in this country are taking this party and turning it upside down. neil: you're woke. >> not enough. neil: all right. charlie gasparino. thank you.
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moments away not only from the impeachment trial resuming with the world health organizations holding a press conference on the coronavirus as it shuts down three big cities in china totaling 17 million people. that's huge. after this. ♪. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. from packaging tape... to tape that can bond materials to buildings... and planes. one idea can unlock a breadth of solutions. at 3m, we are solving problems that improve lives. one idea can unlock a breadth of solutions. if you have postmenopausal osteoporosis
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neil: all right. the top of the hour, two big developments we're following. the impeachment trial heading into day three, starting just about now, will go on for at least eight hours. in geneva, awaiting the world health organization, whether they will declare a global emergency in light of the coronavirus. right now, we have a confirmation of at least one more death. that would bring to 18 dead, 650 cases of this. in china, this makes you wonder about whether the magnitude of that is being appreciated here, because we are talking three major cities totalling 17
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million residents. that would be the equivalent of new york city, chicago and los angeles, shut down and no people can get in or out in the interim. that's a pretty big deal. would you do that for something that is relatively contained to just about 650 cases and 17, depending on who you talk to, 18 deaths. it is raising eyebrows and that's why the world health organization might spell this out. they have already issued a grade 3, i think they call it grade 3 sort of a warning level on global travel that you have got to be careful, that's kind of stating the obvious there, but all of this as we are learning the incubation period for this particular virus could extend beyond just five days to as much as 14 days, which makes it very difficult for those in customs offices when you come into this country or any other country, if you're not exhibiting any of the signs or high fever, any of that, they will let you keep going and you might already have it. therein lies the concern for the w.h.o. as to how to deal with this. the white house, meanwhile,
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assuring americans all precautions have been taken and they are on top of it. take a look. >> we are monitoring the situation in realtime. the president has been briefed and remains consistently vigilant in making sure that this doesn't spread throughout our country. we have sent more entities to airports. neil: more entities to airports might be a welcome idea but again, the problem is people aren't exhibiting any signs or symptoms, they go right by you. what do you do? to health policy expert dr. roger kline. thank you for taking the time. what do you do in that event? >> well, you know, i think we are doing what we can do. i think really what we need to do, we need to monitor people who are at risk. i think right now, for americans, the risk is actually quite low. we are really looking at people who have been exposed to those who potentially are infected and these would be people who have traveled to china or people who have been in close contact with others who have gone to china. i think for americans right now,
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the risk is quite low. neil: for americans, i get the drill about make sure you are washing your hands, make sure, you know, you are using all the precautions most people would normally take, but there is no vaccine for this as of yet. i know that was the case with sars and ebola and we got through these crises. sars ended up claiming close to 1,000 lives when all was said and done so it got a little bit out of control before they got it under control. do you envision anything like that here? >> i don't think so. at this point, it doesn't look -- first of all, it doesn't look to be as transmissible and it doesn't look to be as serious. i think that the death rate per case is significantly lower and really, the people who are at the highest risk would be elderly people, people with other illnesses, compromised people or young children. neil: you know, the difference
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here, maybe it was the case in some of the prior, you know, virus contagions, you can help me with this, but when i see three major chinese cities with a combined population north of 17 million, i think -- one viewer corrected me saying it's 21 million, i don't know what's the case, it's a lot of people, and they are locked down. you can't get in or out of them and even within two of those cities, even intracity travel is shut down. are they seeing something we're not? >> not necessarily. these are huge steps to take and i agree with you, but initially, they were actually criticized for not being tough enough, and not being restrictive enough. this may be in some respects a reaction to that. it's difficult to know in a system like china's whether or not this actually makes sense and whether or not it's going to make a difference. neil: thank you, doctor, very, very much. reassuring words. we need that. i appreciate it. meantime, as the good doctor
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was speaking, this is a big reason why people say the dow is down. excuse to sell, whatever you want to call it, nervousness about that, economic impact if it spreads, all the asian markets were down, uncertainty around this and it was hitting a lot of issues that have anything even tangential to do with this. for example, casino and hotel operator stocks have been particularly hit hard, including wynn resorts, given its macao presence down 2% to 5% through the course of the day. we have got the largest percentage exposure to this neck of the woods, las vegas sands, that sector has been taking it on the chin. there are exceptions. in the biotech community which largely resisted this and has been a flight to quality or at least flight to potential vaccine, one of the biggest potentials of that this year is this novovax, up on the last two trading days on the possibility it is working on a vaccine that could be ready sooner rather than later. you know the drill, particularly
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when it comes to the market aggregates. they sell first and ask questions later. this might be exactly what's going on. to barron's roundtable host jack otter and "after the bell" cohost connell mcshane. connell, i'm not sure this approaches the crisis type of mentality that exists right now, but it is an excuse to take some profit. >> a lot of sentiment indicators indicate that maybe now was a time to do that, that people were getting a little bit ahead of themselves and the market was doing nothing but going up. i would also say, i don't know that the stock market at least in the interim is the best place to look for reaction to all this. some of the consumer sentiment indicators and kind of macro economic pictures that we see especially out of china might be better, only because if you look back to, you talked about sars, ebola, but other health scares over the years, often the stock market over the time in which we are dealing with them ends up being higher because we are dealing with all kinds of other issues. we are just coming off a crash essentially of the market before sars hit, after the nasdaq
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bubble, for a couple years, so -- and then the iraq invasion came shortly thereafter. there are other factors happening and this is no different. we are dealing with all kinds of other issues from impeachment to trade to everything else. the stock market might not be the best place to look but it is interesting to see how the chinese economy handles it over the next few months. neil: it comes at a time, not to be crass about it, jack, where a lot of people signed this trade deal, are the chinese going to be able to make good on it if their economy spirals as a result. >> i think it's important to note, i agree 100%, people look for a headline, blame it on that when actually it's a lot more complicated. back at the time of sars, consumer spending was a much smaller share of the chinese economy than it is now. sars hit the chinese consumer spending pretty hard. neil: early 2000. >> 2003. so if it does the same now, that same reduction in consumer spending would have a bigger impact on the chinese economy. we do have to look out for that, and the chinese economy of course is a bigger part of the global economy. so there could be an effect here, but again, i think
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connell's long-term point is even more important, which is that often the market was up in double digits, actually, if you look 12 months after these outbreaks over the years. neil: normal history on this is that they will sort it out, it's not nearly as dangerous as people point it out to be. already there are those who have biotech plays that could go up on the notion the vaccine is in the works, then anyone in the hospitality industry, the casino industry, even if they have no presence there. >> there was talk of actually shutting down macao casinos. i think that's why wynn is -- neil: right. right. >> we are trying to figure out what's actually happening versus what is a precaution that's being taken or reaction that maybe is an overreaction. you talk about shutting down cities, for example, at least to public transport and people getting in and out. china has a couple audiences it has to deal with here. some sort of large health crisis like this is, you know, potentially a threat to the regime. xi jinping knows that, i
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presume, and is conscious of how the world perceives how he and his -- neil: how responsive they are. >> internally, there's a different audience. they definitely don't want to have people panicking. although there are certain areas closed down, i think the forbidden city has been closed down and other things so people in beijing would know about it -- neil: they canceled a lot of development -- >> fair, but in the press, to some extent, have been burying it. they haven't been covering it as closely. if you look at a financial website, i know impeachment is the big story in all the political web sites today but ours are, you know, journal, barron's, i'm sure the financial times, this will be high up. on wednesday in the peoples daily, what i understand, the print edition, it was on page 4 right at the bottom of page 4, just a small mention. i looked on their english language version earlier today, it's covered, but it's like third or fourth. there's something about xi jinping wishing people a happy new year, and that's above it. it's not like they're not covering it but they are definitely conscious of how -- neil: i have read a lot of
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cities that look forward to a lot of chinese tourists who come particularly this time of year, in vancouver and seattle and san francisco and los angeles, the more immediate beneficiaries of chinese travel this particular year. >> and the residents of those cities probably think well, maybe not so many chinese tourists these weeks wouldn't be that bad. you know what amazes me, the fact that you can shut down three cities with roughly 20 million people. imagine trying to do that in this country? [ speaking simultaneously ] >> even then you could take a train out. >> you can drive in and out of these cities, as far as i understand, but you have more people that are relying on public transportation and you know, it was tough for them. neil: wonder how much they are being told. >> apparently not too much. >> yeah. i mean, they are covering it, from what i understand, it is being covered which some people say well, that's progress. neil: page 4. >> on wednesday, it was page 4. it's a little higher up on the
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website today. i only looked online. it was the third story. you can see it at the top. it's something to the effect of the chinese people are fighting back against this outbreak but it wasn't the top story. >> valiantly, no doubt. neil: guys, thank you very much. want to take your attention to the floor of the united states senate. i think you know the drill here. it looks like jerry nadler. indeed it is. this is going to go another eight hours. the house managers will continue making their case as they will do so tomorrow, then it's the republicans' turn to make their case curreounter-case to whatev got on their case and back and forth we go. again, the hope among republicans is they want to wrap this up certainly before the president addresses a joint session of congress for state of the union address february 4th. that could be slip-sliding away. the dow down 129 points. it's either the assurance of a 165-point
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neil: all right. it's day three and aren't we having fun. the senate impeachment trial just getting under way. hillary vaughn on capitol hill with the very very latest. what are we looking at today? reporter: well, right now house impeachment manager jerry nadler is making the case for what is day two of the democrats' opening arguments. so far, republicans are unfazed. the senate leadership source tells me no republican senators have come behind closed doors expressing concerns about anything that they have heard so far from adam schiff on the senate floor, but democrats think that could change, as they convince four vulnerable republican senators to vote with them to approve new loads of documents and witnesses. >> if my republican colleagues are interested in some new evidence, on top of the very substantial house record, there's a very simple answer. vote with democrats to call
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relevant witnesses and documents. republican senators, four of them, it's in their hands, can make this trial more fair if they want to. the question is will they use that power when it really matters. reporter: but republicans aren't convinced that they should be forced to hear from witnesses, that democrats themselves in the house never bothered to call. >> here's what i want. i'm going to make my vote based on the evidence assembled. i have said consistently i'm not going to grant witness requests by the defense. they could have called all these people if they wanted them in the house. reporter: democrats are singling out four republican senators they think could defect on a vote for witnesses, susan collins, lisa murkowski, lamar alexander and mitt romney. so senate republicans are doing whatever they can to keep those swing vote senators happy. i talked with the senate leadership source this morning that tells me during this process, they want to avoid
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calling witnesses at any point so part of the strategy is to keep those four senators involved in the process. all four of them were instrumental, i'm told, in writing the organizing resolution that set the rules of the road. democrats now have about 16 and a half hours left to deliver their opening arguments and right now today, they are focusing on article i, abuse of power, as part of these impeachment articles. neil? neil: you are very alert considering you have had no sleep following this. touche to you. hope you haven't had to depend on just milk or water, whatever they are having. thank you very, very much. as hillary was explaining, they are trying to get these four republicans to go along with witnesses. that's what you would need, assuming all 47 senate democrats were pushing for witnesses. it takes just a simple majority of 51 to do that, hence this focus on these four particular republicans. let's bring our panel into this. we've got danielle mcloughlin, former chief of staff to senator mike lee, boyd matheson and jack
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otter. i'm curious where this push for witnesses goes. i don't see the ultimate conclusion changing that the president avoids getting impeached in the senate, but it could drag out longer than thought if we start talking about witnesses, and it's not a two-week affair. six-week affair. what do you think? >> certainly. republicans are making a process argument here. they are arguing that because these witnesses weren't called in the house, which by the way, was partly because the white house refused to hand over any documents or witnesses that had been requested, but they that house democrats don't get to do that in the senate. neil: they could have waited it out. >> they could have waited it out. neil: they were in a rush to get it out to the senate. >> they made a technical i guess strategic decision that rather than go all the way to the supreme court which is where i suppose this would go, we have had -- we are already seeing cases end up making their way through the federal courts on the basis of the president's extremely broad view of executive privilege, they made
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the determination not to go to the courts and live with what they had to live with. so again, the question becomes if you have exculpatory evidence as the white house does have witnesses or documents that present their side of the case, why wouldn't you bring them forward in a senate trial? you are making a process argument as opposed to a factual argument. neil: let me ask you, boyd, the rumors were that if witnesses were entertained, there would have to be a mighty swap, we will give you john bolton if you give us hunter biden, as if. >> yeah. sort of the old baseball trade, we will give you hunter biden, joe biden and a staffer to be named later. but i don't think any of those things are really going to happen. i think we can almost go sesame street level on all of this. that is if the senate trial were sponsored by sesame street it would be the number 53 and 47, and i think we will continue to see that. >> that's sort of where we are on this thing. neil: to your point, you have gotten into this as well, if the markets were anticipating anything other than exoneration
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for the president, they probably would have shown it more. today it's more about china and the whole, you know, viral situation but not impeachment. so are they right? >> well, remember when donald trump said i could go on to fifth avenue and shoot someone and every one of my voters would stick with me? that's what's going on in the senate. everyone knows the market has fully priced in at least probably 57 votes but certainly 63 votes so i cannot see -- neil: is there worry now, he's safe in this but the democrat strategy is to get vulnerable democrats kicked out of the senate so they can retake that body? >> vulnerable republicans. neil: yes. >> yes. yes, that certainly is, but it's chess, not checkers here. what if there is a deal to bring biden and hunter in, presumably that doesn't do great things for joe biden's run for president, so then you've got a dichotomy, what if somebody from the
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liberal wing, sanders or warren, that increases their odds of getting the nomination, but probably frankly reduces the democrats' odds of winning the presidency. so there's a lot of moving parts there. i just think the market is looking at it fairly simply. we will have the same president for the rest of this year. neil: i was talking to a prominent democrat yesterday who was saying something to the effect, you know, the longer this drags on, the more we can remind people of sort of the sleaziness of the president's role in this, his view, the more it might stick than the president believes, that he's not impeached but that people are going to say boy, that's a little heavy-handed. what do you think? >> i tend to agree. you've got groups of people in two very clear camps. the pro-trumpers in the republican party and the never-trumpers as the base of the democratic party but there's a large swath of american voters in the middle, and if we look at, for example, polling that says about 70% of americans actually want to see witnesses and testimony in this, the middle obviously really really matters here. and so there are risks i think
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to both sides, in either making this drag out too long or not being forthcoming with facts and evidence as the senate seems to bear here. the middle really matters. >> this movable middle danielle is talking about, these are not just independent voters. these are center left to center right. these people are tired of senate trials, tired of all the shenanigans. the things that move them are the market, economy, community, upward mobility and self-reliance. neil: if that was it, the president would be up double digits. >> i think it's dragging it just a little bit but most people are getting up, going to work, taking care of their families, making a difference in their community. i don't think this will all wash in the end for the movable middle. >> there is one more important point. in that movable middle, trump is not a super popular guy. >> correct. >> so they will look at the alternative and say -- neil: you have to know who you are running against. >> exactly. i think there are people who can get close to the middle and people who can't. neil: we are getting an update from hong kong.
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carrie lam probably relieved she doesn't have to talk about protesters, saying she's cautiously confident the system in the city that was built up over the years through the sars epidemic, i assume she's talking about that 2003, will get hong kong through this current health crisis. keep you posted on that. alarming new study out on taxes. some people do not realize their refund is money they already paid the government. after this. as a caricature artist, i appreciate what makes each person unique. that's why i like liberty mutual. they get that no two people are alike and customize your car insurance so you only pay for what you need. almost done. what do you think?
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i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ tit's great actually, i've been listening to audible. it's audiobooks, news, meditations... gotta go! ♪ ♪ hey! you know, i do think it's weird you've started commuting when you work from home. i'll be in my office. download audible and start every day off right.
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everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office, we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual. neil: all right. if you were waiting to hear an international state of emergency for public health and the world health organization, this press conference is going on right now i believe in geneva, right? anyway, just announced that it is not going to issue such a public health emergency for the time being, saying it's a bit
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too early for that. we will be watching this very very closely. that did take some of the selling out of the dow. it's still down about 97 points, ahead of this it had been down about 130. i don't know if it's tied to that but i just throw that out there. meantime, tax season kicking off next week. did you know exactly where your refund comes from? turns out that a good many americans do not. a survey out there finds close to half of them didn't realize that the money comes from their own paycheck. it's their own money coming back. to rebecca walser, what are we to read into that? >> it's so sad because honestly, i don't know what americans think they are getting if they don't have an earned income credit or refundable tax credit that the government pays them, of course it's their money coming back to them that they overpaid. this is just letting us know we need to do a much better job of making sure people understand the basics of the tax system. neil: in other words, there's something wrong if you are getting a big refund that you could have had during the course
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of the year coming, you know, every week or two weeks or every month, however often you get paid, than a free loan and proceeds at the end of the year you gave the irs, right? >> yeah. i think it's forced savings for a lot of people. i have a lot of people who say i like that big refund. it's like you know, it's just your money, kyou could have savd it all along and made some interest or done some kind of investment. i'm always looking for that. they're like if i get it, i spend it. that's the typical american situation. we get it, we spend it. that's the big problem. neil: i'm the one dovetailing this with this other development that, you know, a percentage of americans would not be able to handle a $1,000 emergency expense or they would have to slap it on credit. i'm wondering, a, they need to watch fox business a lot more and b, whether we as a country are failing the people in this country by not stressing this, by not reminding them about basic economics.
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what do you think? >> no, neil, there is no doubt you are hitting the nail on the head. this is so true. we do not have any basic financial planning courses or any finance courses how to manage money, how to buy a house, what's the best way to go about saving for retirement, starting early, how to invest. all of these things are not part of basic curriculum in high school, college, unless you are going for a business degree. this is absolutely something this country, president trump would say let's add this to the curriculum at the primary years and up through high school so that our country, we spend too much for what we make. we don't have enough savings rate in this country. we have a huge retirement savings gap in our country, the largest almost in the world, if you look at the imf reports, so this is a systemic problem for our country and we need to do a much better job of getting people the knowledge they need. neil: absolutely right. you have been warning about this for many a year. thank you very, very much. meanwhile, a new study says
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that bernie sanders' version of a wealth tax, it won't pay for nearly any of what he proposes. after this. i'm really into this car,
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neil: all right. maybe because he's the frontrunner all of a sudden getting more attention than he used to, a new analysis of bernie sanders' tax plan shows the plan will generate $1 trillion to $1.5 trillion less than the campaign claims, undercutting his education and health care plans. that is an economic study which was put together by economists who are often wrong. not all the time -- well, all the time. danielle mcloughlin rejoins us, jack otter, boyd matheson. what did you make of that? >> i thought one of the more interesting points is that although bernie sanders' campaign still estimates the wealth tax will raise between $2.8 and $3.3 trillion over a ten-year period which is not an insignificant amount of money -- neil: assuming that money is static and doesn't move. >> right. and also, this is a prediction which is what we are told even when it's a tax cut, the idea there are models, we are projecting what human behavior will be like, what markets will do, et cetera. so you take it with a grain of
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salt. >> first of all, every single politician ever has predicted a better outcome from his plan. but one important thing, it will not surprise anyone to know that elizabeth warren has a plan for what to do with that money. as a result, wharton scored that as adding a little bit of growth. neil: it also says hers isn't paid for. >> the difference between warren and bernie here, she said i do x, y and z, they say okay, that will add a little bit to growth. bernie did not say what he would do to it. neil: they are the two biggest taxers. i'm wondering how that plays out. >> and the problem with both of those plans is that eventually, they will run out of other people's money and the economy will crash. neil: i don't mind if it stops at your end. >> don't tax me, don't tax you. ultimately, i think that's going to be the task. if the democrats really do swing left, the economy keeps rolling well, that's going to be harder again for the middle voters who
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really will determine this in critical places like wisconsin, michigan, ohio, pennsylvania. neil: you ever get the enssense guys, i know you hear the white house people go, you know, bernie sanders or elizabeth warren would be their dream nominee and i'm old enough to remember the carter folks prayed it would be ronald reagan, not george bush senior, because he was the crazy conservative cowboy, they could walk all over him. you know what happened. when i look at sanders' stubbornness in the polls, he's doing okay, i know that's dangerous to glom on to, that's all we've got, and he's holding up better than a lot of his rivals, what are we to make of that? are republicans getting ahead of themselves? >> that's a good question. neil: that's what i do. >> it is. that's why you're sitting there and i'm sitting here. we have two progressives in this group. that's a really interesting sort of questionable calculus. if they both stay until the end, they are actually splitting voters at the moment. your great point is not
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resonating with the average voter. i think if they both stay in, it divides their sort of power in the primary. >> i think it's interesting, because you do have someone like amy klobuchar, who is stuck in the senate with some of her colleagues there, but she's one that has no motivation to get out of the race at this point. in places like iowa, these caucus states, that's very important because if you are everyone's favorite number two, you can have a really good night. neil: it was four years ago, everyone dismissed, certainly the democratic party, they hoped that donald trump would be the nominee because they could squash him like a bug. >> exactly. i will say to your point about bernie, could he really win, is an interesting one because of this factor that he's really not that different from trump. people think i'm insane for saying that, but the reality is they are the two populists on either side. depending on who you think is evil, you vote for bernie or trump. neil: how great would the
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debates be? >> it's the wrap-around voters. neil: you're right. >> it's like okay -- neil: you're right. >> which boomer? pick a boomer. neil: as a boomer. all right, coming up, a new way of transporting organ donations to patients who are in immediate need of that. after this. >> it used to be it would have to go back to nyu. cutting across manhattan this time of day would be anywhere from half an hour to an hour. that's time the lung spends without oxygen. huh, fifteen minutes could save you fifteen percent or more on car insurance. everybody knows that. well, did you know pinocchio was a bad motivational speaker? i look around this room and i see nothing
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do you worry that if we were to see additional tariffs on european products, that that hurts the u.s. economy? >> i don't think so. you always have some backlash
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from them. they undoubtedly will do something to retaliate but remember, the president has simply said this is if it fails. we are -- our working assumption is it will not fail and we will make a deal with them. neil: that was commerce secretary wilbur ross earlier, with maria bartiromo, talking about the president's threat to impose tariffs, particularly auto tariffs, if they don't get hopping in europe on this ongoing trade dispute. the cow guy as we like to call him, scott shellady on all of this. i'm curious what you make of the virtue of tariffs and they always seem to work, administrations stand by them, they are going to use them again as sort of a lever to extract concessions. as a free marketeer, as a capitalist, a very good one at that, does that worry you? >> well, yeah. look, i've got some strong agricultural ties and this last go-round we had with china and the chinese tariffs and how
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badly they hurt the soybean farmers, it's been very very difficult and hasn't really blown through like a lot of folks would like to think it has. it's been a difficult time of suicides at record highs so they are not always -- there is an ugly side to these things that really don't get, you know, advertised and rightfully so, but that is why i continued to think trump will use that stick and that is why we will also see some unintended consequences we don't really talk about, but they're there. neil: now, it does get deals done. i think that was the gist of the president's message that, you know, bottom line, i get the chinese to sign a deal, i get a new nafta 2 agreement with the canadians and mexicans. jury's still out whether it will deliver the goods and in the case of the chinese, they buy the goods, but longer term, what's the impact, do you think, of this? i know we don't know, it's too soon. >> well, i would say this. i like free trade and i want everybody to have fair trade as well. so i stand in that camp.
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he's been doing some things that have been unorthodox but have actually been working. i continue to think he will act like that but in the long term, i say that it's probably not a great idea, but again in the short term, he's winning that way. again, you probably read the book, a lot of other folks told me what he thinks. this is going to probably be the case going forward for the short term. he will probably, if he gets through this impeachment, continue with these types of things going forward up until the election and probably use them again after that. be interesting to see how it comes out with great britain. it will be obviously interesting to see like you said with usmca. but this is the world we are living in now and he's been emboldened by success. neil: well put. scott, always good seeing you, my friend. thank you very much. the world health organization not declaring the coronavirus is yet a global health emergency. that took a lot of the selling steam out of the corner of wall and broad for now. more after this.
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we created bionic and put the word out with godaddy. what will you change? make the world you want. everyone in this room is smart enough to invest in the stock market. wall street has spent the last 200 years telling you can't, telling you don't understand the market, it's too dangerous, too scary. send us the money and we'll do it for you. what do they do? they buy the stuff you love so they go out and take your money and buy apple, they take your money and they buy amazon, they take your money and they buy the things that you know. here's the irony, though. you know this stuff is great before they know. neil: seconds after that, charles payne announced he's running for president of the united states. isn't that amazing? he's the best. charles payne, great job, as always. you know, you made a lot of people think both inside and outside that room, why should
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the big guys have all the fun, right? charles: i got to tell you, it's happening in the markets. look at what's happening like the mutual funds, people taking their money out of that, etfs, they are putting into what they call passive investing, just saying hey, buy me the s&p. i think a lot of people are getting wise to this whole thing that -- if you have someone who is really a great stock picker and they are on the ball, that's fine, but the notion that no one else can do it except the folks in those gleaming towers down in the canyons of wall street, you know, i think people are starting to reject that. neil: you know, i don't know if you got into all of this, this notion of the trend is your friend, the younger you are, the more time you have to sort of ride out these crazy cycles, so a lot of people could rightly look at this market, maybe not today, but toppy as it is and say i missed the party. what do you tell them? >> you got to be in it. i'm always in it. doesn't mean my subscribers always 100% vested.
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at my most worrisome points in 2019 we had 20% cash. but you just can't get in and out. it's unrealistic that anyone watching this show, listen, we have professionals, you know why the market really took off in october and december? the professionals finally got in. so you know, the money managers who were so deathly afraid, they were sitting on record amounts of cash for 90% of the year, you know, trying to pick the top or guess the top, is folly. you always bring up a hundred year chart and i think that's really the best example. if you look at a hundred year chart of this market, it's hard to discern where any of the pullbacks were, even the biggest ones we ever had in history. while they can be intimidating, they can be, you know, frightful, you know, the idea of waiting for the dip, no one waits for the dip. if you're not confident enough to buy the market while it's going well, you won't have the confidence to buy the dow down 1,000 points. neil: you can't time it. the difference between you and me and the hundred year chart, i covered it a hundred years ago.
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but you know, what do you tell people who look at this and say, you know, i don't know, you saw the survey that almost half the americans out there wouldn't have enough to cover an emergency of $1,000 or more. i don't know how reliable all that data is, but a lot of young people in particular just don't have the money to invest. what do you think of that? charles: we talked about that yesterday, one of the guests was talking about paying off student loans, working full-time and still having enough money to invest. neil: stuart varney. charles: don't get me started with stuart. and you know, so what i pointed out to them, i said listen, people have money. come on. i said coachella, the big concert all the millenials go to, they do $700 million in revenue. coachella. a two-day stay is $2800. $2,280. people have the money. if you smoke two packs of cigarettes a day in new york city, forget about investing, if you just stop doing that and put it in a bank you could send two kids to college.
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we have the money. we have to make certain sacrifices in our lives and we have to decide fear of missing out, you only live once, or you know, fear of missing out when i'm 50, 60, 70 and 80 because those are two different things also. neil: you're right. brilliant job, as always, my friend. that was your heart talking there, not just your incredible brain. charles payne coming up in about eight minutes. meantime, the world health organization for the time being is not declaring an international i guess virus alarm. they are watching developments in china and asia. fox news medical correspondent dr. marc siegel here. no global alarm just yet. what do you think? >> i was expecting them to call it. i think they will soon. it's a double-edged sword. when they start calling it an international emergency, you will see more public health measures which are important but you are going to see panic. what does panic do? well, people take less precautions when they panic, the markets go crazy as they are already doing. so the real question here, the billion dollar question is how many people are infected, how many people are dying, why is
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this spreading so rapidly and so quickly. i'm suspicious that there's many many many more cases that have already been reported. neil: if they are shutting down three cities totalling close to 20 million people and locking them down, maybe that's procedure, i don't know, i don't ever remember something that sweeping. >> you do, actually. in 2003 they did that with sars which is a very similar virus to this coronavirus. neil: sars had a much higher death count. >> exactly. neil: that's what's making you think -- >> that's a great point. almost 800 people died of sars and about 8,000 cases. so one in ten. we do credit public health for part of the success with sars but also, it wasn't as contagious as we thought. we don't yet know how contagious this is. here's what the cdc does. they control cases, they see how many people you came in contact with. they isolate anyone who came in contact with you because you could spread this virus even before you have symptoms. neil: i want to switch gears. we were going to talk about nyu
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and i guess the uber or skyy, the transportation helicopter that's combining to help people that need medical fast. >> i flew on one of these helicopters very bravely. i had never been in a helicopter before. i went with a set of lungs all the way to nyu. you know what's really exciting about this? blade, it's a real free market model, they are organizing lear jets, helicopters, bringing the organs from places you couldn't get them before. in this case, all the way -- neil: and quickly. >> all the way from north carolina. so when you are quick, guess what happens? the organ is not out of the body that long, guess what happens? people get better, quicker, faster, the patient that we interviewed is back on his feet in 16 days. neil: i think we have that patient, don't we? do we have that exchange? take a look at this. >> tell us your story, how this partnership helped you. >> well, it was great. first of all, i would like to thank everybody involved with the transportation from blade to
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the people at nyu, the transplant team was amazing. i had such a great experience, and a very quick recovery. so i'm blessed. >> how many days did it take you to recover? >> 16 days as of today. >> 16 days? >> know what's really amazing? the cost. it's one-quarter of the cost because it's an organ. you are flying an organ. you don't need a full team. you can do it with one physician, one perfusionist monitoring the organ. neil: it's speed. you want speed in the end, right? >> you want speed. you can go farther and get organs you couldn't get before, bring them into the hospital and you know what the biggest problem here in new york? you won't be surprised to hear this. it's the ambulance trying to get from new jersey over to nyu langone. you fly over, it's six minutes. six minutes instead of an hour saves lives. neil: there will obviously be a lot more of this, the debate over the convenience but it's a big deal. >> it's a big deal. it's groundbreaking. blade, by the way, is not making
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a lot of money on this right now. they will, though, probably reach all the way around the country and then around the world. neil: the good will is off the charts. >> absolutely. it's philanthropic but it's the way transplants should be done, faster, better and it leads to better outcomes. i'm very excited. neil: good for you bringing this to people's attention. dr. marc siegel who looked very calm flying in that helicopter. >> didn't feel that way. you know, you could see right out to the ground. neil: exactly. meantime, gold prices are moving up right now. why do you think that is? after this. at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk
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this round's on me.eat. hey, can you spot me? come on in. find your place today, with silversneakers. included in most medicare advantage plans. enroll today by calling the number on your screen or visit getsilversneakers.com neil: all right the impeachment trial now is in its third day. jerry nadler is running things right now for the time-being. house judiciary committee chief. he follows the house intelligence chief adam schiff yesterday. went on pore 2 1/2 hours making
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the case the president of the united states should be impeached. that is kind of the approach jerry nadler is take. the key here whether any minds have been changed. now simply a partisan affair. republican against doing that. democrats for doing that. here we go. to charles payne. charles: thank you, neil. good afternoon, everyone, i'm charles payne. this is "making money." a down day for the markets. there are two contributing factors. earnings from blue chip names and concern over the coronavirus. some relief the world health organization says it is a bit too early to consider the virus a public health emergency of international concern. tesla making it rain again, continuing a record run the first u.s. automaker to top $100 billion for a car manufacturer. that means gargantuan days for this guy, elon

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