tv Bulls Bears FOX Business February 8, 2020 11:00am-12:00pm EST
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with us every weekday 69:00 a.m. eastern. have a great west of your weekend have it great weekend thanks for joining it. see you next time. ♪ ♪ ♪ "bohemian rhapsody" there. from all over the political spectrum declaring this trumps best week everywhere. capping it off with a blockbuster. blue-collar boom continues. thank you for joining us. joining me on the panel, adam. gary b smith and john burnett. >> we just came out with fantastic jobs numbers. 200 30,000 or something there about. which was much higher than projected. the jobs continue to do great.
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our country country today is more successful than it's ever been. >> that line from the president has been questioned in the past but is it really true? now are we more successful than we've ever been before? >> i don't know. i think i can write out. here's the situation. even manufacturing numbers, when you look at boeing, their manufacturing woes, the manufacturing numbers are up. wages are up. people are satisfied with their personal lives. even the divorce rate is even found. president trump is making america great again. people have actually you know, they feel like they can live out their american dream. they have confidence, people are spending.
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this is great for america. >> making love great again. i will say that of the 7 million jobs created since president trump was elected, 4 million of those 7 million were for women. so yeah, i think he does have an impact on women in the workforce and labor force. in the administration has done a tremendous job of deregulation. just support from hundred 83000 americans coming back into the labor market and that means the confidence to get a job, 183,0 183,0002 paychecks. that's more important in the headlines. >> even wages are production workers are up significantly. 3.1% according to this report. >> no caps. i think you and your team have done an excellent job, nancy pelosi ripped up the papers and taped them back together so we could have a whole section devoted to the president own
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opinion of himself. >> are the numbers accurate or not? >> of course they are accurate. many multiyear economic expansion, which i know is another topic. >> i'm surprised though that adam did not take the opportunity to answer the question and maybe you'll be shocked but well, okay. give. it is a good economy but here's the thing. if you look at the pure numbers, there have been other years that there's been great economy. so if you are solely evaluating the claim is this the best economy ever? the answer is no. it's not the best economy ever. we have great economies, we have higher gdp growth during some of the periods in the 50s and 60s. the unemployment rates about 3.7%. you know what it was in 1969?
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3.7%. i will give them credit people say our economic well-being, individual is the median household income, that is adjusted at an all-time high. if that's the only metric, then he is right. >> unemployment gdp growth, it's very good but it's not any better than it has been during even some of the bush years. >> you have to look up off the box. what this president had to deal with in terms of bad trade deals and you're talking about 3.7% gdp. >> hold on, one at a time. >> you have to factor in decades of outsource and despair. what the president had to deal with. >> how did they do that in the
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economy? >> stock is cheap. >> the tariffs and gdp -- >> they did have to trade deals that worked out well. >> the to trade deals that led to i think a boom potentially in our economy, especially -- >> one at a time. >> fair enough. we needed to push back on china whether it hurt america temporarily or not because they are stealing are intellectually property, it wasn't to boost growth in america. they want to push back for that reason. u.s. nca is increasing workers in america. >> u.s. nca is the manager trade
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people to make cars more expensive here rather than allowing the all american public to buy less expensive cars. yes for the autoworkers it's a fantastic. >> you sound like romney. let the car companies fail, right? [laughter] >> i'm looking at pure economics. you are waving a flag managed tariffs is a great deal. >> you have to spend cash, that's called making an investment because the positive and president trump -- worth the investment? >> local supermarket, should i start "making money" on food n now? >> you are describing a situation that is terrible. we have the best job situation, all of the -- excuse me, may i
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finish? we have a situation with jobs, with wages and companies coming back to the united states that is directly because of the policies excuse me, directly because of the policy decisions the trump administration to lower taxes and lower regulations dramatically. >> by your argument then from everyone in the union should have trade restrictions when other states keep their jobs. >> i'm talking about the state of the economy right now. even democrats do concede to a large extent the economic and market boom during the trump administration. they credit president obama with all of this. nancy pelosi did yesterday. vice president pence responded, listen. >> it's amazing to think in the last administration that tried to tax and spend and regulate to a growing economy resulting in
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less than 2% growth for eight years, the slowest economic recovery since the great recession. now look at this booming american economy, more than 7 million jobs created, wages rising. think they had anything to do with it. donald trump deserves some of the credit for policies that led to this growth. >> donald trump deserves credit for continuing, i hate to say this, it's going to sound like a trump basher but he basically is continuing to steer the ship that obama set -- >> wait a minute, hold on one second. president obama raised taxes, he increased regulations dramatically, president trump did exactly the opposite and we had up booming results. >> look at any kind of metric, any kind of chart whether it's unemployment rate or gdp growth, whether it's household income,
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it started like this with obama and continued to go up with trump. at the facts. i'm not arguing one president is better than the other. that started in the obama era. >> it's almost absurd that we are having a political conversation instead of in an economic one. we quote that. what's gary is saying, seven years of economic expansion under obama. after the slowest recovery. now we had three more years of economic expansion and by the way, gdp growth is slowing. >> by the way, recovering from a recession, it was a terrible recession, absolutely but we have usually lowered taxes and lowered regulations in order to stimulate the economy. president obama did the opposite and that's why we had the slow
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recovery. >> that's why people him back into the workforce under the trump administration. >> when you look at the markets, the market jumped. for two reasons. president trump was going to take the office in january as president obama was on his way out? we have to move on but i want to emphasize 1 million more jobs than people looking for jobs. we've never had that situation in my lifetime. we got to move on. markets snapping a four day winning streak on the coronavirus infections here at home. we'll bring you a live report and ask how effective the chinese response has been to this virus. that's coming up. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways.
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coronavirus fears grabbing the markets down today as people begin to worry more about the threat of the disease here at home. this comes as a royal caribbean cruise ships turned passengers exhibiting symptoms of the deadly virus and it's now docked in new jersey. brian is following that. he has the latest. >> all the passengers on board disembarked earlier this morning and they all went home. all except for passengers at the hospital to be evaluated for coronavirus. from what we understand, these are governor phil mercy's words, the personal came here and mentorship when it docked. as coming from a southern caribbean, 11 day cruise and 27 people were screened by cdc personnel, 23 were immediately cleared and the other four were sent to the hospital. royal caribbean says one of those for passengers tested positive for influenza a, the flu internet statement, none of
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the four guests showed any clinical signs or symptoms of coronavirus while they were on board our ship. all of the guests have been permitted to disembark, as usual. the 27 passengers all came from mainland china. we spoke to passengers who were disembarked and they said royal caribbean makes no, they said no announcement on the ship and had no idea what just happened. we spoke to a chinese national who's one of those who are isolated on board that ship inside of restaurant with 26 passengers, he said he hadn't been to china in three years and now he's a little concerned for his health. >> it may affect me.
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>> on top of that, we have two other cruise ships in asia that are now under quarantine. there's a cruise ship off the coast of japan, the princess and 11 with coronavirus have to be quarantined. thousands of passengers pointing since the break 19. ownership under quarantine the coast of hong kong. all of this has three private planes landed at military bases here in the united states by the end of the day today. they'll be quarantined from all passengers, hundreds of americans for 14 days at the military base. last thing, this ship is set to set sail tomorrow on a cruise ship, this cruise ship will be heading to the pop thomas tomorrow unless i hear otherwise. anybody with a passport from china or hong kong will no longer be able to board a caribbean ship through the end of the month. >> thank you. president trump addressed the matter today praising the work
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of chinese president chief, separate the work he's doing to combat the crisis. >> i had a great conversation last night with him. it's a tough situation. they are doing a great job. >> i think china will do a very good job. >> let's bring in this china expert, good to see you, gordon. yesterday doctors detained by communist authorities because he put out a warning on social media about virus, died about virus. a heroic doctor died while treating patients. yet he was treated like a criminal by communist authorities. does that sound like a government being transparent? >> most certainly not. he's one of the doctors trying to sound a warning. doctor lisa, he's going to become the face of the communist party. social media erupted. died twice according to official
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figure. the first time he died, there was an outpouring of grief. basically they saw how bad it was so zero no, he didn't really die, he's just critically ill. the second time he died, about 23 hours ago, there's an unprecedented storm of anger on social media, they've been trying to take down those post. it shows you a government as trying to control narrative, not trying to end the disease. >> forceful, what you make of president trump's comment that he doing a good job of handling the situation? second, what do you think he's trying to accomplish? >> i think with the president is trying to do is calm the matters between the united states and china. he doesn't want to panic the american people that obviously the president there is not doing
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a good job. going back to their old plan of secrecy, that's how this virus spread from the first time a person was diagnosed until december 8 until the 31st with the first announcement of any type of the chinese government and it wasn't until january 21 or second that he started to take measures. a lot of the virus is spread across china which is now led to spread across the world. this is a panic situation and i think trump is just trying to stay calm down, folks. >> i don't trust china. neither do you. the think is, the president is the leader. not only of america but also leader of global markets in some respects. he's not only trying to calm american markets down but also the global markets. let's be frank. we have the phase one deal. china has to by 200 billion plus in goods and services. that might be in jeopardy. in this situation bring strategic by president trump in terms of public praising him and encouraging him but behind the
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scenes, i'm quite sure president trump is putting pressure on president xi. the thing is, president trump announced $1 million the world health organization other countries to combat this. that's what we have to do this. one of the good things, at least in the u.s. the number of cases is not on beyond 11 or 12, about five or six days. i'm not sure i would have let people off that ship. i would that work with other passengers but anyway, we got a pretty good job in the worst best organization and they are showing why they have that reputation. >> the markets when you look at the stars sars outbreak in 2003, killing over 700 people but for the most part it was contained as you know professor over 26%.
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maybe this time it's different. the economy is very fragile, as you said, we don't know the extent of the virus. but off china's economy is a second in the world. could there be a ripple effect in the u.s. market in u.s. economy is complex. >> is a ripple effect a ripple effect today. without the great news this bring on the jobs report and market down 277 points from the problem here is contracting. you can see that because of its demand for oil is down 20% year on here. that says china is in the road. you have all of these factors turning out parts for other factors. how you and i has closed south korean car plans because they can't get parts from china. regular case united states as
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well. i don't know how hot it will be. monday is a day when china goes back to work. we will find out a lot about how this plays out. this can either be harmful or not so bad maybe even we won't know until tuesday or wednesday. >> we got to end here but we've got to have you back with more on this. the market could be other things as well but concerns investors have about whether the fact is not going to lower interest rates. clearly the virus is weighing on the markets. meanwhile, andrew cuomo said he suing for trump administration. a lot they say will protect americans. where the suit put our national security at risk? we will ask a former dhs official coming up next. >> this is another form of expression.
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new york governor andrew cuomo announcing his attempt to sue the administration after the department of homeland security decided to ban new yorkers ferment trusted traveler program over a law allowing undocumented immigrants to apply for driver's licenses. governor cuomo sounding off earlier. here he is. >> this is unbounded arrogant, this respect of the rule of law. hyper political government and this is another form of extortion. it's pure politics. it has nothing to do with affecting government policy or laws. >> here not as former dhs official in the trump administration and heritage senior advisor, mike. thanks for joining us. mike, as you hear from almost at
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the policies are based on politics, phs claims it's based on not being able to verify the event of the travelers who don't have proper ids. which is it? >> dhs needs tmz information to check things such as records, whether the individual has a warrant out. i softly a motion on the governor when a legal alien was released. new york raped and murdered a 92-year-old. he's got priorities mixed up. >> i was looking at what congressman said, here saying it's incredible to see a statement was a target on 9/11, when the reason behind one of the main reasons behind 9/11, was at the department cannot share information to each other. don't you think it's a problem if we don't share information? >> absolutely. decades of good relations between york city and federal government to fight terrorism and keep our country safe.
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the governor putting illegal aliens about their own citizens safely. that's unfortunate. >> the thing is when you look at new york and california, i lost track at the number of lawsuits they lodged against president trump. when you look at new york and california and new jersey, they all are saying she will sanctuary states. why is new york different from california and new jersey? new jersey in california have international airports, something? >> certainly. what this one centers on specifically is the dmp. i don't know where the case in relationship but dhs and california new jersey is right now but this one squarely centers off the latest action which is prohibiting dhs to get into the databases and make sure our skies are secure. >> i know that's the way you throw around the expression,
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you're probably not far left. i'm guessing your states rights. a states rights versus a federal side. it's a national security issue. response ability of the government, the common defense. >> your not concerned about stepping on the states rights of the state of new york but you are in other? >> there's a difference when the federal government is constitutionally supposed to get involved. this is one. planes take off, they get off in the air and go to other states. it's gathered by the federal government. the new yorkers don't have to five. they don't have to get on these weightless or trust and traveler list. it's a state right issue. >> i'm curious, how often have the states sued the dhs?
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how have those cases been proceeded? >> it's a total abuse of the system. the dhs getting sued, i don't know for total numbers but i can guarantee they are good. everything i've been tracking, the major ones whether it public charge, the travel ban and assume this one will go the same way. you just can't refuse to walk dhs and expect to get a special program. it doesn't work that way. >> great to see you. we appreciate you coming on. thank you. joe biden falling far behind in a no call, one newspaper saying he is mia. is there any hope for joe biden? cologuard: colon cancer screening for people 45 plus at average risk. i've heard a lot of excuses to avoid screening for colon cancer. i'm not worried. it doesn't run in my family. i can do it next year. no rush. cologuard is the noninvasive option
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foxbusiness alert the justice department has dropped its antitrust before major automakers involving the deal over fuel efficiency standards. sources are telling "wall street journal" or after examining the geology concluded ford, honda and volkswagen did not engage in conduct that violated u.s. antitrust law. 2020 democrats gearing up for a make it or break it debate in new hampshire tonight. last month before tuesday's primary in the first since the i want disaster, peter is live in manchester new hampshire with the latest. >> most candid are in the
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general area and getting ready for tonight debate. bernie sanders is already signaling a. >> presidential campaign. we are in a moment were billionaires control not only our economy but are political era. >> there using different metrics to claim victory in iowa but that's for the attack, buttigieg hasn't really been taking it. >> what i admired about senator sanders is consistency and willingness to say exactly what he believes. that doesn't mean i agree with him. didn't agree on everything that or everything now.
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i do believe wherever we fall on some pundits ideological spectrum, responsibly to talk about what we believe in. make a case for what we believe is right. when it popular and when it's not. >> the delicate equivalent, bring claims he won because of the popular vote. marsha is the first. where does joe biden fit in? he's been regrouping at home in delaware so biden didn't have any yesterday. he doesn't have anything today until the debates and saturday and sunday and monday he has two events. senior staffers are being reassigned to new roles within his campaign as i try to avoid coming in. fourth-place like they did in iowa. >> i'm sure he wishes he could shake you up, you're always
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there asking those questions. thank you very much. joe biden taking center stage despite falling behind as peter was just saying. biden now trailing in fourth place behind bernie sanders and pete buttigieg as and elizabeth warren. the washington post reports he's been mia in new hampshire. he's hunkering down in delaware with his advisers. reporter and columnist, joe contra. you know it's bad when the washington post is against you if you are a liberal democrat like biden. even the atlantic, uber liberal, devastating pieces saying his campaign is lack of money, mismanagement. what are you hearing? >> i think joe biden is done. i don't think it was ever really a first place thing. once he got into a contest, you see him finish and forced fourth-place. he's never one a primary or
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caucus in any of those times. he's a bad candidate. now he doesn't evoke any confidence in democrats that he can be mayor of dweller alone president of the united states. >> he was never a hit to begin with but you look at suitable. [laughter] >> he's moving support, fundraising is declining and what we thought was his base, the black vote bloomberg is cutting into that. what is strategy tonight? is he going to attack bernie sanders? >> he's going to pray he gets south carolina. remember there was a firewall for rudy giuliani. by the time he got there, it was gone. he's not campaigning new hampshire. he won't do well there. he's got nevada where he's not pulling well either. what is ago? i think you will be split up amongst a couple of places. >> a question, i thought
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thousand example good politicians. i'm wondering if you agree. do you agree with david when a newspaper writes an article analyzing how a candidate campaign is doing poorly, as an attack on my candidate? you are a media columnist that's why i'm asking. >> sure, it's probably being fed by people who don't want to see joe biden do well. it's all about the sources. >> analyzing a correct situation, correctly? >> again, i don't want to put words in joe's math but a lot of it depends on which sources you use. >> and where is that coming from in terms of biden in this situation. the obama people haven't been crazy about joe biden candidacy from day one because it's a reflection on obama's legacy. >> switch gears before we get
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gary and heather in her mouth the fallout from of those he's ripping up of that speech in the state of the union the other night, now there's a new ad that the trump administration is putting out there, the heroes of that speech and her ripping up the speech itself. what you think of this ad? >> democrats don't like it. they are already telling facebook and twitter and youtube to take at the video down. it never happened to jump before. [laughter] it's been a horrible week for democrat. when we saw the debacle in iowa and the state of the union address i don't care what they think. independence when elections in michigan, pennsylvania, ohio, 82% of independents like the president's speech on tuesday. democrats are in trouble. >> you have to move on. remember the treadmill about the prime example for wasteful government spending? i think we have pictures.
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there he is. foxbusiness is getting a look at president trump's new plan to take major action against an take major action against an incredibly at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond.
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president trump is ready to go to work on wasteful government spending. we are getting an early glimpse of the president new budget proposal for 2021. that's expected to be submitted to congress on monday. president trump's budget said to include a detailed chapter on curbing waste fraud corruption and taxpayer abuse. some of this is real money. it's not just million-dollar programs, they are zeroing in on medicare and medicaid waste and fraud. they say they can save 85 billion a year by doing this. when they get it done? >> no. no they won't. obama promised, bush promised. james madison probably promised.
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[laughter] proposing a budget that increases suspending, the deficit $9 trillion. the only way to cut this waste is mandated, budget that comes down. you're not going to go to each department. what department will head will say i want to make my sphere of influence lower. you can't do it. they all promised of bureaucrats find a way around it. find a way to justify. unless you cut the fence, which is not going to happen when either front, is not going to happen. >> 23.2 trillion deficit over $1 trillion so i echo that and appreciate the sentiments but the truth is, both parties have racked up spending as of late and i think i applaud the
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efforts but with the democratic lighthouse, they want to ramp up with right now. some of the wasteful cut that need to happen, wasteful spending, inflatable gains, not quite sure what that is. model market $34000. 1.6 million. >> the president sort of approached spending the way he did as a real estate developer. he likes to spend. you've been up budget talk your entire career. you just sat there silently. he's just saying all the same things other presidents have said. >> he won't. >> you have to be optimistic here. based on your comments, president is dan defeat those,
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damned if he doesn't. >> let's look at his administration. he has a lot of business people in there. you look at the political and -- >> i'm not changing the subject. >> we make investments over the last several years in terms of nontraditional ways, increasing thought budget and investing, we've got great returns. let's wind down the spending and reduce our deficit of debt. >> hold on a second. 85 billion out of medicare and medicaid is not shrimp on a treadmill. >> it all adds up. >> there's one president and adam will be pleased to hear it comes from a democratic administration, jimmy carter's reign, we deleted an entire department, a man named alfred,
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head of the civil aeronautics board, remember that? he cited his own agencies so it can be done so let's keep our fingers crossed. bernie sanders leading the pack of democrat hopefuls, commander-in-chief high-profile investors now raising a lot of red flags on how much economic harm a sanders president could cause. could we have a president sanders still have capitalistic economy? is a possible? thatatatatat
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polls but to legendary hedge managers are sounding the alarm on recent search. sandy said as bernie sanders socialist becomes president, the stock market plunged 40%. jones says the market dive could be 20%. they are warning sanders proposed executive order to ban oil exports and simultaneously the u.s. economy while helping the dictatorships russia, saudi arabia and venezuela. click bernie on the rise in recent polls, should investors be quarried? >> every investor in capitalist in the inner pole and shout for socialist are coming! we can't let bernie or any socialist in the white house because they are right. this predictions will likely come true with bernie sanders it will take us back to the old obama days. it will bring the dow lower in
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terms of the highest.in which obama was able to get it. >> the thing is that people need to understand not only whether savings be impacted, future savings, wages and everything else, oh my gosh. you see how this working? the strategy is actually to have a planned economy and look what's going on. this is powerful. >> there's no doubt a sanders presidency would not be good for the stock market. i'll inject an caution. president have a hard time doing all the things they would like to do. for example, president trump after three years of trying hasn't been able to kill the affordable care act. that's a very real policy example. if president sanders were president, he would have congress fight, the federal bureaucracy to fight. the fight on things like ending oil exports, i think that would be a little bit. >> one other time.
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>> the stock markets have done phenomenal under president trump obviously and under democrats in the past i president obama and president clinton but that difference is, most democrats in the past that bernie really is a self-declared democratic socialist. i do think the market would take the washington post even slammed his ban on oil experts on day one. there can't be a positive for the market. >> if the market tanked, you have to remember adam's words. i think miller and jones, they forget the role of the government. the role of the executive branch is to execute the law. congress makes the law. yes, there are some executive orders but obamacare past because they had control of
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congress. it's not obama didn't do himself. we can't pass tax laws unequivocably. you can't take over, i don't want a sanders presidency. don't get me wrong but unless the federal reserve is working in cahoots with a totally democratic senate and house it's not quite do have -- >> even then. >> we got to move but i disagree entirely. i'm scared of a sanders presidency because capitalism and socialism can't mix. one has to win. if you are a president, you are going to push socialism. tom has done a lot to change the economy. we got to move on. for the first time, planning to stage star play of one of the most controversial and decisive -- divisive parts of the 2016 elections. we've got the details coming
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>> a new gig for superman vampire slayer, taking this an entire play from text messages between disgrace fbi agent peter strzok and lisa page. fbi lovebirds undercover, does it go too far? >> i can't tell if it goes too far or not far enough. i really don't think it's that funny though. >> i think it's generally a bad
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