bring in steve forbes, and steve moore. "wall street journal" ed col edl board calling the move a fiscal stimulus panic. and warning that $1,000 checks to individuals will not help the economy. but a new fed backstop will, steve moore is the journal right? >> they are right. you know, we should be providing some temporary aid in the form of loans to businesses that are healthy that need some help to get through this period when they have no customers and no revenues. we don't want otherwise healthy companies going bankrupt or having fire sale on their assets that would be a nice security blanket for the businesses. we have 26 million small businesses. -- other hand, idea of sending out checks to people, may be steve forbes, i think we ash ag, but that idea will not help stimulate the economy. my big concern, is that not hearing anything from the administration or congress. that is pro economic growth that will help the economy grow once this crises is over. david: steve forbes, you wrote a piece in forbes.com, suggesting th

steve forbes, what do you think about that? rom bernie sanders rather than our good friend larry kudlow. that's why you need this loan facility at the federal reserve, maria. that just makes a straight loan at a straight interest rate and you pay that loan off and you're out of the clutches of the government. equity stakes we should have learned from the auto industry cause all sorts of problems and i don't want the federal government having more claws in the economy. i want them after this crisis less because the only way we get out of this debt and everything else is through rapid economic growth just as we did in the 1980s when things looked grimed in the early '80s, late '70s. maria: matty, your thoughts? >> well, so i think you need to be careful here. there are big differences between 2008 and today. in 2008, particularly with the government action to take an equity stake in gm, that was meant to preserve an institution that had a lot of structural problems that had been laid bare by the downturn in the fiscal situation. t

maria: quite a night, steve forbes. steve: it is, indeed, the federal reserve acted divisively yesterday setting new facilities one called main line lending facility and buying corporate bonds making sure the markets don't freeze up. one of the things that president trump should threaten to do if congress continues to delay, democrats continue to play their game is invoke production act and order treasury to send checks out to individuals immediately. just say it's an emergency, send it out electronically, if schumer doesn't like it, pelosi doesn't like it, take it cocourt. we will see you next year but get the money out to individuals who badly need it. maria: we have been hearing about this. what's your reaction? you have fights going on in the senate. nancy pelosi coming out with own conversation and the federal reserve saving the day for the markets. >> you have politicians playing, you know, russian roulette with how many lives. many of those people have been layed off already. it's incumbent on us to support action

steve forbes, chairman and of forbes media. and john, the owner of garcetti's, the supermarket chain? am i saying that right? how much damage could a nationwide lockdown do? speak of the damage is going to be substantial and it's going to hurt a lot of individuals and put out of businesses tens of thousands of businesses. small and big ones as well starting with the airlines. that's why it's essential for the federal reserve to do now what he did 12 years ago to provide loans through commercial paper. they can set up a facility to provide money, cash to otherwise solvent businesses to keep them through the storm. and the individual side, president trump has to push for a suspension of the payroll tax and put money in people's pockets between now and year-end. something like what senator cotton is proposing, for middle and low income people to get a one-time check. the nice thing about these measures is they end when the crisis ends, instead of this sick pay leave and things like that which will crush small businesses in the fut

now it is 3.3 million, joining me now steve forbes german editor in chief of "forbes" magazine. steve, steve minutia the treasury secretary said said those figures aren't relevant aa discussion. are they not relevant? >> of course they are, they would have been higher if people had been able to get online. their systems were overwhelmed. you will see numbers not only this week but in the weeks to come. we know that, when you take 30 or 40% of the economy out of commission if you will get massive unappointed rapidly. that is why they are having this bill. tens of thousands of businesses face ruin, that is why they need relief right away. and so, it may not be relevant, the only way it is not relevant is it is low, it is going to get worse. >> laura: steve, a friend of mine floated the idea instead of this approach where we are throwing stimulus dollars at the equation, at the problem, a lot of these companies have bills due. they are not going to be able to make their payments that are larger than 500 employees. kicking out the timeline for accounts receivable, so you don't get fo

the rest of the world is going to be worse. >> steve forbes here.ms of statements they put out. rescuing the economy beyond the government control. >> they are cutting rates, fiscal stimulus stimulating demand, chinese production lines cuts down and you can use demand but it is less effective but it is hard to assess at the moment. my instincts are it is a lot worse for china than the united states and we will get a supply shop out of that but it is unfolding. dagen: i have been reading a lot about the supply shock, and in the early 70s, pumping monetary stimulus to the economy that doesn't do much and fiscal stimulus. what about inflation? >> it is possible at the end of this that we get offered pressure on inflation. if there is massive fiscal stimulus, hard to imagine, we could see inflation. i don't think it will be desperately high, but 3%, 4%, everybody has a knee-jerk response, everything pushes prices down, this might not. i would ask if i was the government i would rather have a bit of inflation van get it wrong, counteracting the demand sh

. >> here to put all this together for us is steve forbes. steve it's interesting to contrast the president's overall address the other night which was widely criticized. the stock index really started to decline that night. today, his announcement came on the stock market was still open in the market really rallied into the close. as jackie said when he started to talk about ramping up the texting, it was a much different reaction. >> it is and the reason for it is to get our arms around this crisis is testing. you take south korea, they do each day over 20000 test, more than we've done altogether. taiwan hit this thing early on, australia hit it early on, we lagged because of failures by the cdc being more interested in protecting its turf been working with outside companies. what was reassuring here today was the very fact that you had all these private sector companies, walmart, healthcare companies working together making things happen. it was the sense that finally we will move ahead, mobilize the resources of this nation to deal with cr

steve forbes is back now as well. what do you think about this package, to me it looks really good, what concerns me is it looks like they're going to get the first checks out in three weeks, that is not that soon. >> no, i wish with electronics they can get the checks out right away, the irs has records and social security, and they have ways of depositing cash, the sooner the better, yes there will be mistakes and people will try to commit fraud but most people need and need it now. they are moving on this, i supported and i also wish they would go for a tax holiday on the payroll tax which would make the cost of keep ente more on tr paychecks. do everything, not just one thing. melissa: is concerning that the getting the checks out a couple weeks, i've not seen the details and they keep talking about programs for small business, in the meantime small businesses trying to make their payroll and make the rent in new york and they said nobody can be evicted for certain period of time, that was the new ordinance, the c

steve forbes with us, everybody said it's backward looking and we don't know what the virus will bring but the other word from administration officials and others is that this provides a cushion as we go into whatever were going into bring. >> it is in a sense the past but it's the basic strength there. as larry kudlow may clear this morning, this is a one-time event, it's not like 2008 where you had real systemic problems, there's a one event and eventually it will be over, tragic but it'll eventually come to pass and be over and when it does this economy will be ready to roar. as you know last year things will hold down by concerns over trade, not the growth rate from 3% to above 2%. that was starting to change this year, things are moving up then the coronavirus came along and knocked things down. that is going to be temporary, that's why you sell the surge at the end i have to scratch my head with the market being down 1% is a victory these days. but i think it shows they will be real buying opportunities because the stocks eventually most will come back. connell: it seemed like wh

melissa: steve forbes, you are brilliant, just what we needed. thank you so much. connell: melissa, as we have fox business alert to bring you as we go to to buddy carter of georgia to talk about the breaking news of the day, the alert is from president trump who put out a statement with regard to the defense production act, something we've heard a lot about this weekend the president saying he has signed a memorandum to the hhs secretary directing the secretary to use his authority available under the act and now i'm quoting from the statement to require general motors to accept import ties federal contracts for ventilators. this is being talked about, our negotiations with gm regarding its ability to supply the leaders have been productive but our fight against the virus is too urgent to allow the give-and-take of contracting of the contracting process to run its normal course, he goes on to say that gm was wasting time, this is in the president's statement, today's action will ensure the quick production of ventilators to save americans lives. more throughout th

steve forbes, this market is now down 15% from the high.irus but the reaction to the virus. we are not on the top of our game here, sadly, and also, there's still concern in the market, what will governments do in reaction to it. simply there's fear of debasing the dollar, if we go with something like a payroll tax cut and a few targeted measures, that's good, but there's fear what governments might do in reaction to the virus. that i think is affecting markets more than the virus itself. maria: european central bank president christine lagarde wants a coordinated effort. i don't know what the monetary policy is going to do at this point. >> yeah. well, it's interesting. i think we heard today from a lot of the advisers that if you are just an individual contributor, or investor, probably stay on the sideline. this thing is probably -- we are about five points away from a bear, we are down 15, 20 is kind of the guideline. maria: it was said today it's the end of the bull market. kyle bash said recession is iven tabl. >> all of them, jpmorga

all morning long, steve forbes' been on this program saying we need something now. the treasury secretary to call the federal reserve and open up the window for small business now. so any company that has been solvents before this crisis can get alone now. what about making sure you give the authority to the federal reserve to do something along those lines? >> welt maria, i think the treasury and the fed up and working literally around the clock this week. they put out and we support with equity there's three facilities last night the press release came out at 1130 and that's because we were working super late last night to get this out. these are very important facilities. they support the money markets, we were very worried that hard-working americans were going to find they could not get their money out of money markets. i can assure you the fed understands they're under authority. we are working together on them. and where we don't have authority, we are going back to congress. if already asked that. we are focused on being able to provide liquidity to companie

steve forbes, forbes chairman and editor in chief, joins me now.eal with crude oil right now. want to deal with what larry kudlow told me earlier, that they would have targeted, targeted stimulus go to groups of people who may have been hurt by this. you approve of that? >> i think it was brilliant on his part. that was a great interview. i think it was very reassuring that they're not going to panic, they are going to deal with specific problems. that way, congress isn't going to go off on a binge, it's not going to harm the economy, people are hurt, we will help them as much as we can. that shows compassion. it also is one reason why the democrats are not trying to make this an issue. the administration is responding with calm, authority, tealing wi dealing with facts as they come and people want this reassurance. they know this did not start in trump tower, this virus. so get off that horse. stuart: that's a great line. can i steal it off you? >> sure. there's no patent. stuart: it did not start in trump tower. >> so i think also, the report on

kristina: and forbes, steve, he has cruise. >> not a free cruise.- for july. >> still on? >> i'm told to move it, growing number of u.s. senators trying to stop it from happening, todd young helps to lead charge, on your screen, he is joining us next. ofi, get your credit cards right by consolidating your credit card debt into one monthly payment. and get your interest rate right so you can save big. get a no-fee personal loan up to $100k. get a no-fee personal loan my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away

. >> welcome to "bulls and bears," i am steve forbes in for david asman, super tuesday resulted in a super width for market -- wednesday for markets, stocks surging dow up more than 1100, the second largest point gain ever as investor cheered at better than expected performance by joe biden last night. he won 9 states and over 500 delegates. but are investors really cheering a biden surge or a sanders slide? we debate that in a moment, but first, our all-star panel. zachary care notice his great tie, liz peek. >> and medicare for all -- president trump could not resist, he weighed in. >> what do you think of the stock market react today, almost a sigh of relief. >> i said from the beginning, partially this, a big part of this, but also the fact that they didn't like seeing what -- they don't like joe either. joe has become, you know a lot of people are with joe, you look at those people they are worse than bernie in terms of being radical left. >> liz, are markets reacting to less likelihood of bernie socialist policies coming to fruition? or do they like trump's odds again joe biden

he's got to have a growth plan, steve forbes and i have talked about the idea of suspending the payroll for the rest of the year to give businesses an incentive to hire more workers because it will be a tax cut for everyone and the 26 million. >> laura: but what if people don't have any money to spend? >> look, we have programs already for people, for example who have lost their job. unemployment. i had dinner tonight with my seventh and eighth grade stepsons. i asked them, what do you think about the idea of the government giving $1,000 to everybody? the first one said why doesn't anybody work if the government and wouldn't that be inflationary? if ralph seventh and eighth grader figure that out, why can't members of congress? >> laura: i'm trying to get my kids to do basic math facts. >> economics is not complicated. >> laura: but you know the pressure people are under to say, okay, we have to come together. we have to work together, we have to come together, we have to do something. so the people are asking the questions and always vilified. if you ask us a question about a lockdown

steve forbes at the end of the day today at the close of markets says he bets we'll see one to two months of this uncertainty and then a big bounceback. who knows. the bottom line is, though, this is one of the many reasons why the president was trying to wean us an our economy from china becausehi of this kind of uncertainty in our supply chain and this is where this whole thing started, sean. >> sean: all right. thank you. joining us with more on the president's response to varney and the outbreak is with our fox news medical team dr. siegel. itve took three weeks. the travel ban and the uarantine hadn't been done in decade. three weeks. now, everything everybody wanted, he said, you know, whatever is needed, we'll make available. how many people die from the flu every year, compare this to h-1-n-1 which you happen to be an expert on, how obama and biden reacted to that compared to this virus. >> they definitely weren't stepping up to the plate on that virus. in terms of the response to this virus president trump was projecting calm leadership in the midst of all of this varney hysteria

steve forbes at the end of the day today after the close of the market said he bets we'll see one to two months to the uncertainty and a big bounceback. who knows? the bottom line is though, this is one of the many reasons why the president was trying to wean us and our economy from china. because of this kind of uncertainty and the supply chain. this is where this whole thing started, sean. >> sean: all right. melissa francis, thank you. joining us with more on the president's response to coronavirus and the outbreak is with the fox news medical "a" team, dr. marc siegel. it took three weeks. yeah, the travel ban and the quarantine hadn't been done in decades. three weeks. now the money was signed, everything everybody wanted. he said that, you know, whatever is needed, we will make available. how many people die from a flu every year? compare it to the h1n1, which you are an expert on. compare and contrast how obama-biden responded to that, attacking more children versus this virus. >> they were not stepping up on to the plate on that virus. i can tell you from my own experience. i

even when we have had mega bucks candidates before, whether it was steve forbes or if it was mitt romneyen donald trump, they spent the time to build the infrastructure needed to win an actual campaign. what bloomberg did was drive up ad costs to ensure that he would be the only one on air. >> tucker: okay. but, i mean, leaving aside the anti- -- small d democratic implications of this making it hard nor other legitimate candidates to advertise on tv is not good for democracy is it good for america to hand $500 million to the worst people in this country which are, i think we both agree are political consultants. he just made a bunch of people who are already rich who are mostly kind of bad people even richer. how does that make america better, honestly? >> well, i think what we see is after citizens united, after all the money that's been poured into american politics, our congress is going to have to act to limit the ability of wealthy individuals and corporations to try to buy our democracy. as i am someone like a cory booker or kamala harris looking at tom steyer still being in the f

even when we've had megabucks candidates before whether steve forbes or mitt romney or even donald trumpey take the time to build the infrastructure to actually win a campaign. what bloomberg did his added cost to ensure he would be the only one on air. >> tucker: okay, but leaving aside the anti-democrat, small implications of this, making it hard for other legitimate candidates to advertise on tv is not good for democracy, but is it good for america to hand $500 million to the worst people in this country, which i think we both agree our political consultants? he made a bunch of people who are already rich, who are mostly kind of bad people even richer. how does that make america better, honestly? >> i i think based on what we sk him after citizens united andnd after all the money poured into american politics, our congress will havehe to act to limit the ability of wealthy individuals and corporations to try to buy our democracy. if l i'm someone like a cory booker or kamala harris and tom steyer are still being the finafinal four coke or five candidates, he bought his way onto the st

that's why steve forbes and i have performed the suspension of the payroll tax so we have something thatve some juice to be economy once we get going. >> bill: maybe when we get to that at some point. we will see. austin, what is your view from chicago? >> look, i think this approach that stephen is describing in which underlies several of the things in the senate bill so far which is let's try to cut taxes for people who have more money, let's try to cut taxes for business. i don't know. i lived through the last version of the bailouts, first they bailed out the banks, then we had the auto rescue. those only work if the economy recovers. so my number 1 thing that i can't understand is why we aren't spending more time and more money on the virus inside of virus economics. because if you do not get the test and you do not address the health aspect, you can't get us out of lockdown, and general lockdown is what's killing the economy. >> bill: on that point, here, you lead right to it, "wall street journal," here's the piece from earlier today. "rethinking the coronavirus shutdown: no socie

steve forbes and pappy cannon had to drop out. do you know why it dipped to seven states?pat buchanan had to drop out. carl: i was covering the clinton white house. countrygoing around the , talking about the bridge to the 20th-century. the fiscal conservatives in the senate had the bridge to nowhere. this was the bridge to the 21st century. we scratched our heads and so did the audiences but the economy was doing great and bill clinton was a great campaigner. a threatnever much of to him. at some point bob dole, here's a legitimate war hero. and clinton is going around telling all these whoppers and being glib. dole gets mad. where's the outrage? he is doing good and clinton seemed capable and audiences left him. it was an election about not much. bill clinton would say this is most important election in our history, but it wasn't. it was an election between two capable guys. and the incumbent one. -- won. 2000, we are back up to 16 states participating in super tuesday. bill bradley ended his campaign after super tuesday. george w bush ended john mccain's campaign becaus

. >> welcome to "bulls and bears," i am steve forbes in for david asman, super tuesday resulted in aay for markets, stocks surging dow up more than 1100, the second largest point gain ever as investor cheered at better than expected performance by joe biden last night. he won 9 states and over 500 delegates. but are investors really cheering a biden surge or a sanders slide? we debate that in a moment, but first, our all-star panel. zachary care notice

another one, steve forbes. a lot of people spent a lot of money, and i was sort of the middle.nd they said lost, lost, lost, lost. donald trump became president of the united states. lost, lost. i said cool. [applause]. you know what i love t we are doing more than anybody can imagine. even right to try. for years, right to try. we can outside our medicine if someone is terminally ill. >> martha: is there going you missed in i remember michelle obama said she missed going shopping or walking down the aisles. is there going you can't do now. >> president trump: yeah. i can't walk down the street now. we had a very successful be and even my show turned out to be a success. i had many top best sellers and things. but i could walk down the street, and i could actually walk into a store and it was, you know, it was not like nobody knew me. but now, today, if i suggested, you know, i think i'm going to walk down pennsylvania avenue and let's go shopping. so it's a lot different. so i do miss that. i miss that sort of free life. this is not a free life. are dog because we are accompli

that is what steve forbes is talking about. my bet is that they are going to say yes.need to get money into the hands of small business asap. sandra, look at the restaurant industry. look at the airline. some of the small businesses will not make it. we know there will be the oil patch. they will not operate with a $20 oil pick the restaurant industry is also going to see many companies, many small businesses that will not be able to make it out of this. >> sandra: such urgency out there. here's the big board again selling a 434-point drop after a 1300 plus point drop for the dow yesterday. the message from the white house -- we will hear from the white house coronavirus task force coming up, maria. all eyes will be on that as far as market movement as well. peter navarro said this white house plan is to push by american and all of this. >> it's basically a 3-prong approach talking consistent with what president trump did back as candidate trump which is buy american come up make it, deregulate. during the last crisis with this swine flu, it means basically, we are alo

i think i heard steve forbes say the virus did not come from trump tower, okay. this most likely originated in china, in wuhan, and the president has taken commendable steps in the beginning from day one from banning visitors from china, and he didn't get a lot of credit for that. now the 8.3 stimulus is a bipartisan stimulus plan passed, again, not getting a lot of credit for that either. so no matter what he does, the media will bash him. the economy in the u.s. is very strong. you briefly mentioned the jobs data we got on friday, 273,000 jobs added, and i feel like maybe cnn and msnbc are just going to cover that up and only focus on the virus which again, this is not something that's political. this is an epidemic. it has nothing to do with the president. stuart: for how long on cnn and msnbc was it russia, russia, russia, then obstruction of justice, then impeachment. all that's gone. now what have you got? you've got the virus to go at him with. i mean, really. it drives me up the wall. christian whiton still with us. what's your reaction to this? i just th