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tv   Cavuto on Business  FOX News  February 3, 2018 7:30am-8:00am PST

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a growth economy from the time he was on the campaign trail and we are seeing evidence of it so i am very optimistic that we're going to continue to see this great growth in our economy. neil: you know you mentioned the president, and one of the things that he rode this market up and quoted it often and some said well be careful because when it turns around as it did on friday and last week, you'll own that as well. do you think it's a good idea one way or the other for the president to keep referring to the stock market? >> well i think the president will continue to talk about his growth economic message in totality across-the-board and i think the evidence is there to back up what he thought would happen with the tax reform with big businesses bringing money back into the country. i mean apple bringing money back and pay what, 37 billion in taxes and indicating to the president that they're going to invest about $350 billion into the economy and we've seen
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chrysler coming back with their plant from mexico, so the primary issues of this economy that the president continued to talk about are happening and i think we're going to continue to see more of it. neil: i'd be remiss if i didn't mention with your husband vince mcmahon wants to start a rival football league for the nfl one where it would be required that players don't kneel at the national anthem. how do you feel about that? >> well i'll tell you, neil if you want to talk about sba in washington you can talk to this mcmahon. if you want to talk to the nfl you talk to mr. mcmahon. neil: i thought i'd get that answer. administrator thank you very very much very good seeing you. thank you, neil. neil: all right, you already heard speaking of the football game i guess happening on sunday fox isn't covering it so really do i care but anyway justin timberlake is causing a big old stir saying with the risk of concussion i don't want my son to play football. what does joe namath think of that, after this.
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>> the only day i find it's worth getting worked up on the stock market is the day i'm ready to sell, which i'm not and in a sense i've been more than amazed at how much stocks have run up. i probably have a little general nervousness about where they're going to go, but to me, today feels like a bump in something. on the other hand as interest rates move up, which they need to, they will anyway, it's inevitable stocks will back off some. neil: i generally find that billionaires don't much worry too much about the day-to-day swings in the market even when it could affect their worth and the former microsoft ceo telling me he's concerned that rising interest rates are inevitable they were already happening then that interview was prior to friday's big sell off when we
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were had the washington state of the union address and it will raise our carrying cost for all this debt, 20 trillion in debt but it could cost hundreds of millions of dollars, we've got gary b. smooth, deirdre bolton, adam adam lashinsky, it is a valid point he's raising it doesn't take much to make that debt pricey. >> it does not at all and i think this is the danger also of president trump tying his economic or administration success to the stock market, but as you say, it is going to make the debt more pricey and i think we're now the top five if you put us on a list of all of the industrial economies we're on the top five of better nations. neil: but we've had some rip roaring markets. gary b., one of the thins he was warning about that we have to be aware that interest rates were are ridiculously low and unrealistically so, so even if we get back to equilibrium that
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could be another excuse for the bears to say well you want to get out of dodge. what do you say? >> well, i think a lot of people are still viewing the fed inflation in terms of the 70s. i'm not going to say inflation has been banished and by that, you know the fed having to raise rates to play it off, but look at the landscape right now. who can raise prices? grocers can't raise prices, because instead of going to the publix near me i then go to the wal-mart. gas stations are having a tough time raising prices because we're moving more toward electric cars. retailers certainly can't raise prices, because then you go, you know find a better deal on amazon, so i think the fed will raise rates. i think there will be a little bit of inflation which is only at 2% right now, but i don't think it's nearly the concern that it was 10, 20, 30 years ago neil: you know the flip side to that though, adam, is that it doesn't have to be an alarming rate as much as just a higher rate, so to gary's point he's
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right if it's averaging 2% now but wage growth and deirdre reported this is averaging now close to 3%, the trend is not inflation word yes, sirs friend, right? >> that's absolutely right. i mean, i think there's no question that there's no evidence for needing to get out of dodge. that's the good news the economy is sound and that's why we're in the ninth year of an expansion and a bull market but there's also no doubt that the wage increases alone mean that we'll have inflation architecture it pressure and when the market is running away in a sort of unrealistic way as it has been as it did for all of january, it's completely reasonable we would have a pullback, and we'll continue to see -- neil: but is that a justified pullback, to deirdre's point earlier we've only seen that eight times percentage wise it's only 2.5% but it is what it is and people see that over the weekend no doubt are chewing on that wondering about what happens monday.
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what do you think? >> well i saw the markets have pulled back to approximately january 10, so you know i'm in the camp i think with gary that says and with steve balmer, who says people shouldn't worry about what happens on monday unless they need their money on monday then it's a different story. neil: is that your view gary? >> yeah, exactly. i'm not saying to most people oh , go in and buy, but you know, if people are quick to forget we still have these tax cuts that haven't even kicked in yet. we still have an economy that's getting out of the obama years. i think there's a lot more positives here than worrying about what the fed is going to do down the road maybe. neil: on that issue deirdre i think it was the atlanta fed that was predicting we would have close to 5.5% growth in the first quarter. >> even the new york fed is weighing in as well. neil: so what would that mean if that would happen, you would sustain something like that you're off to the races but what are you hearing?
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>> so i think all that that means is that different regional fed's are also see inflationary pressures and maybe this means that instead of as the fed is more or less telegraphed three increases this year, maybe it's four or maybe it's three at a quicker pace. neil: but those would be deemed good increases not based on hyperinflation. by the way gary and i are the only one who could remember that period. i've got pictures. >> [laughter] neil: and it could get ugly but we're not seeing that, but the up-tick alone would be jarring for some, right? >> it would be jarring but we're still in theory talking about quarter of a percentage point, right? we're not talking about all of a sudden a wild increase. neil: what are you hearing now three rate hikes this year? >> yes, and you know perhaps a little bit more hawkish of tonor when we hear the statement a little bit stronger in language but to weigh in with the panel as well we are in a nine-year bull market right? there are going to be dips from time to time and i'm with you,
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gentlemen, in the sense that the underpinnings of the economy look good. i mean the whole reason that we saw a little bit of a tantrum on friday is because we had more jobs 20,000 more jobs added to the u.s. economy and in sectors that a lot of people are really concerned about for a very long time, so that's manufacturing, construction, and that's thanks to global economic growth. we're apart of that but the whole, you know global gdp is going up. neil: and very quickly, gentlemen i'll raise this with you finally. do you see anything about this memo and the back and forth maybe even a suspended or elongated investigation that just drags the uncertainty out for months, gosh if not years, gary to you on that. >> i don't. i think a lot of this as much as its headlines for us and other news organizations to the average person out there, it's inside baseball and they're concerned with how much am i making, do i have a job is the
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price of my house, you know am i still under water on my house? i think like a lot of things in the trump administration this eventually fizzles away. neil: you think so, adam? >> i'll add to that. we've had a year of a president who behaves in responsibly who threatens nuclear war and that list goes on and on and on and the stock market -- neil: you should hear what he says z about you. >> well i'm good with that but the market didn't react to any of that. it just kept going up and that's what i see happening here. neil: the only reason i mentioned it is i think the uncertainty of it especially their follow-up investigation suggests well this goes on and on and no one knows where it ends but who knows. i want to thank you all all right? you didn't hear from newly-released but there's apparently a football game tomorrow and a lot of people, you know bet on this thing i don't know why, but apparently better than $4 billion worth of betting goes on it's illegal americans reminding of that, joe namath isn't here to lecture you
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that's for me. navy federal credit union open to the armed forces, the dod, veterans, and their families. neil: all right you're looking live, this is u.s. bank stadium in minneapolis where the super bowl is about to go down tomorrow, but it's half time performer justin timberlake whose been generating at least some news of late telling reporters that given concussion risks and all that he will never let his son play football this comes at a time the nfl is reporting an increase in concussions among players a number just this week saying they donate their brains to science so they can look into that very issue after they're gone. former nfl quarterback super bowl camp joe namath with us right now. joe very good to see you what do you think of that? >> well thank you, neil first of all and i have to agree with justin here. we've learned so much about brain trauma through the years, continuing to do a study, a
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lengthy study on how to help people with brain trauma and it's not just in football it's in every day life so we mode to find a way to help them. neil: are you worried about the future of football if all of a sudden this gets to be, you know , across a lot of parents, moms, dads worried about their kids that the future players are not going to be there? >> i'm not worried about the future of football it's not going away. it's such an entertaining sport, a great sport. we love watching that mix of violence and the guys in the uniforms. it's a sexy violent sport and it's not going to go away. there will always be the guys looking to take the risk. neil: all right but they are taking a risk right? >> oh, it's huge. it's huge. neil: let me ask you a little bit about vince mcmahon who wants a rival league to the nfl and one in which he says all players stand for the national anthem. what do you think?
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>> well, this is america and i think this issue that colin kaepernick originally started has been really mixed up, man. taking a knee even was taking a sign of submission and respect to the flag. this is crazy. this is america and outside of the workplace we should continue to protest what we don't think is right. neil: what do you think happens if any player on either side tomorrow does just that, takes a knee? >> he may be risking what we hate to call a black ball in the league, but you've got to understand there's a player out there that's the principal that started this in colin kaepernick and his physical abilities and his background dictates that he's worthy of a position in this game. i think that maybe the players
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association ought to consider hiring collin or giving him a job if no team owner will give him a job. neil: well we're not going to see any progress on that front. we are seeing progress in the bidding war for cousins. the washington redskins and now the team that team ended a horrific year yet he could have 130, $150 million contract coming his way. do you think that's right? >> it is the way of the game. it's the wealth of the sport and also if cousins was wanted by the washington redskins, they would have found a way to pay him. now if you're going to make him the highest paid player in the game, is it just to get him on your side because he certainly is not the best at this point. neil: but if he's not the best and likely the command this kind of money which could make him the highest paid player, what does that say about the state of football right now? >> it's doing very well.
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neil: yes. >> however, however overlooking those in the past that are suffering, this day with the traumatic brain injury and they need help and they're not getting help. hundreds upon hundreds of former players are not receiving the help that the nfl has promised that they would get because they have to jump through hoops, go through paperwork 30 years ago to show them and the paperwork doesn't exist to show the league that they are in fact suffering traumatic brain injury and their families are suffering too. it's awful the way they're being treated. neil: all right, the money that's being paid out here that could go to that very thing that is not for the time being or certainly disproportionately is not, when i had joe theisman with me a couple weeks ago in washington the former redskins quarterback was shaking his head at some of these deals.
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do you ever do the same look back and say my gosh, i mean, would of should of could of? you know what, neil the robert f. kennedy bridge was $0.25, the toll to cross when i was playing there. what is it today? 8.50? neil: inflation. >> [laughter] and it also shows the health of the industry. the nfl owners have a lock on the sport in our country and even out of the country. neil: and a lot of money at that joseph thank you very very much. joe namath, we'll have more after this including a look at those markets and how they could be going come monday, after this ( ♪ ) only tena intimates has pro-skin technology designed to quickly wick away moisture to help maintain your skin's natural balance. for a free sample call 1-877-get-tena.
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neil: all right democrats say republicans a thing with the release of the fisa memo here the president weighed in as well fox news correspondent phil eating is with him in mar-a-lago >> good morning, neil president trump and the first family arrived in palm beach county for super bowl weekend also known as memo fallout weekend they arrived on air force one about 1:00 last night the president living behind a beltway immersed in partisan politics with the declassified house intelligence memo which shows the justice department abused their power with surveillance war rans on trump campaign advisors while democrats say the memo is distorted and the man behind the memo release republican devon nunes chairman of the committee defended the memo's release last night exclusively with special report anchor brett baer. >> the fbi opened a counter intelligence investigation into the trump campaign into the summer of 2016 that's what happened and then,
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they got a warrant on someone in the trump campaign using opposition research paid for by the democratic party and the hillary clinton campaign. that's what this is about and it's wrong and it should never be done. >> now, former fbi director james comey tweeted this reaction, that's it? dishonest and misleading memo wrecked the house intel committee destroyed trust with intelligence committee damaged relationship with fisa court and inexcuse aboutly exposed classified investigation of an american citizen, for what? doj and fbi must keep doing their jobs. democrats on that intelligence committee hope to release their own memo as early as some time next week, but they must first get the full committee to clear that and scrub it for any possible classified information. as for president trump, he motorcaded over to the nearby trump international golf club about an hour and 15 minutes ago and that is where he is for now. back to you neil. neil: thank you very very much
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phil. we're half way through this we've got a lot more coming up including an fbi official who says this memo confirms his worst fears, we've also got democratic congressman henry qua ir who says that is ridiculous, caveat o live is now ... whoooo.
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...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews. the lowest prices. >> the republican party, which used to hold itself up as a law and order party, seems intent on destroying the credibility of our premier law and order agency. >> we're not going to become them, the republicans, because they are totally irresponsible in this regard. they're talking about the intelligence community. >> this is designed to impugn the credibility of the fbi, to undermine the investigation. >> how does it happen that you have a republican party which for so many years defended law enforcement, defended the intelligence agencies, are now turning against them? and this gets you back

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