our guests include austan goolsbee oil also pulling today -- austan goolsbee. oil also falling today. we are live at the bloomberg technology conference. among our guests this hour. markets close in about two hours time. ramy: fear is definitely in the air today. markets at session lows right now. down on the order of about .6% or more, down four days in a row now. as that that starts its two-day fomc meeting for this month. were are fears of brexit as head towards june 23 and the referendum in the u.k.. u.k.ferendum in ,he s&p is still not that bad you're today or from the yearly lows. or from theate yearly lows. still up about 13% or so. even with this slide down, we are doing well year to date. let's take a look at the imap function. the 10 sectors in the s&p, we have a fairly big lean towards the negative territory. financials down the most by about 1.5%. material is down 1.4%. telecoms up .2%. we did hear about the fcc and that neutrality rules. -- net neutrality rules. ricin and at&t getting a pop because of stability moving ahead. getting a and at&t pop

austan, i remember somebody -- wait a minute. i remember -- i remember a guy running for office that said, $9 trillion in debt? we're taking a credit card to the bank of china in the name of our children and -- excuse me, that's irresponsible, that's unpatriotic. now it's nearly $20 trillion. who was that? >> why would you support donald trump with a $30 trillion tax cut if that's what upset you? >> a tax cut, like reagan showed, he doubled revenues in eight years -- >> no. >> excuse me. he had quarters of growth unlike obama at 8%. obama will be the first president of the united states that never experienced 3% gdp growth in the history of the country. great achievement. >> sean, even the republican economists are saying the trump plan would send us into recession. >> you know the answer. you know the answer. >> you know what that means? >> why are people supporting trump? hold on. you know why people are supporting trump? unlike hillary and frankly a lot of the republican leadership, he's not just talking about the rich and the

we need to change that. >> what about that, austan?rance had a terrible terrorist attack that we all watched. they have some of the strictest gun control laws in the world. even if you accept, yes, i'd like to see the gun laws reformed, even if you're one of those people, you have to understand that taking away the weapon from these guys is not going to solve the problem because there are lots of weapons and we've seen them used. >> okay. you've got a couple of things going on in there. i mean, what mark said, i believe that is changing the subject. changing the subject to what isis is doing in the middle east and in other countries is taking away from the fact that the democrats in congress want them to have a vote on the basic question that is agreed upon by literally 90% of americans in the last poll that if you are on the terror watch list, you should not be able to get a semiautomatic weapon. and for the speaker of the house, when they are literally voting for the 65th time to repeal obamacare, to accuse someone else of a publicit

and austan's answer is that people are too old to work?> it's crazy, and the other thing is, people have given up finding work. that's why we have low participation rates and donald trump has tapped into that, has he not? basically in focus groups, men say i'm getting screwed, women say i'm struggling and they're both saying the same thing which is since when did the job tno longer be enough? people have jobs, they can't afford everyday life because the cost of living outpaced what the wage stagnation has been. nobody can deny the wage stagnation. obama is worried about his economic legacy because hillary clinton in trying to run for obama's third term is not doing well. >> all right. we got to go. thank you. >>> coming up donald trump slams katie couric as a third-rate reporter after it was uncovered this week that her special on guns was deceptively edited. we have eboni williams and dr. gina loudon here to weigh in. >>> and later tonight -- >> [ bleep ]. is that the media staging a shot? is that the media staging a shot? is telemundo st

and austan's answer is that people are too old to work? >> it's crazy, and the other thing is, people have given up finding work. that's why we have low participation rates and donald trump has tapped into that, has he not? basically in focus groups, men say i'm getting screwed, women say i'm struggling and they're both saying the same thing which is since when did the job tno longer be enough? people have jobs, they can't afford everyday life because the cost of living outpaced what the wage stagnation has been. nobody can deny the wage stagnation. obama is worried about his economic legacy because hillary clinton in trying to run for obama's third term is not doing well. >> all right. we got to go. thank you. >>> coming up donald trump slams katie couric as a third-rate reporter after it was uncovered this week that her special on guns was deceptively edited. we have eboni williams and dr. gina loudon here to weigh in. >>> and later tonight -- >> [ bleep ]. is that the media staging a shot? is that the media staging a shot? is telemundo

austan goolsbee, s.e. cupp, patricia murphy. of you. >>> coming up, the oakland police department names its fourth new leader in ten days. (woman) and there's no way to restart it. (jon bon jovi) with directv there is. ♪ you see, we've got the power to turn back time ♪ ♪ so let's restart the show that started at nine ♪ ♪ and while we're at it, let's give you back your 'do ♪ ♪ and give her back the guy she liked before you ♪ ♪ hey, that's the power to turn back time. ♪ (vo) get the ultimate all-included bundle. call 1-800-directv. [ park rides, music and crooooh!unds ] [ brakes screech ] when your pain reliever stops working, your whole day stops. excuse me, try this. but just one aleve can last 12 hours. tylenol and advil can quit after 6. [ cheering ] so live your whole day, not part... with 12 hour aleve. real is touching a ray. amazing is moving like one. real is making new friends. amazing is getting this close. real is an animal rescue. amazing is over twenty-seven thousand of them. there is only one place where real and am

we had austan goolsbee on earlier today with maria. here is how he kind of described what happened in britain. >> in the uk they had a temper tantrum. they kind of pitched a fit and broke some things. now it is other guy, they punched, they punched their little brother in the face. now the little brother is going to have a temper tantrum. it will be europe's turn to start smashing things. if europe has a full-blown melt down that will definitely affect the u.s. in negative way. david: he is calling this worldwide rejection of bureaucrats trying to run economies as a temper tantrum. what do you make of that. >> he is condescending patronizing ass, what do you really think, lou. >> you always know what i think. that kind of thinking, that kind of lack of respect for voters wherever they are in any democracy is stuff which revolutions are born. he was revolting. the next would be those folks that he seems to see in such small dimensions. the citizen in this country is primary. it always has been. we're the beacon for freedom and liberty a

austan, always good to talk to you. up next, is the u.k.t from the eu a political gift for the trump campaign? two of trump's most trusted advisors will be right here to respond. stay tuned. ♪ remember when every new fork on the trail, led to a new adventure? then keep the tradition going with great deals at bass pro shops' 4th of july sale. and check out tahoe boats - including gift cards plus cash rebates with purchase of select models. what are you doing? sara, i love you, and... [phone rings] ah, it's my brother. keep going... sara, will you marry... [phone rings again] what do you want, todd???? [crowd cheering] keep it going!!!! if you sit on your phone, you butt-dial people. it's what you do. todd! if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. i know we just met like, two months ago... yes! [crowd cheering] [crowd cheering over phone] ♪ the sun'll come out for people with heart failure, tomorrow is not a given. but entresto is a medicine that helps make more tomorrows possible. ♪

austan, always good to talk to you. up next, is the u.k.from the eu a political gift for the trump campaign? two of trump's most trusted advisors will be right here to respond. stay tuned. man 1: you're new. man 2: i am. woman: ex-military? man 2: four tours. woman: you worked with computers? man 2: that's classified, ma'am. man 1: but you're job was network security? man 2: that's classified, sir. woman: let's cut to the chase, here... man 1: what's you're assessment of our security? man 2: [ gasps ] porous. woman: porous? man 2: the old solutions aren't working. man 2: the world has changed. man 1: meaning? man 2: it's not just security. it's defense. it's not just security. it's defense. bae systems. >>> in the factor follow-up segment tonight, will britain's vote to leave the eu help donald trump here in the u.s.? trump has been a vocal supporter of britain's exit from the european union and trump reacted to the vote results while in scotland, today. >> people want to take their country back. they want to have independence in a sense an

austan? >> are you saying that's the same as the tax returns? they release their tax returns. >> right. i understand this should be done but if one camp releases tax returns, do you think that it will happen before november 8th when we see secretary clinton be transparent when it comes to the wall street speeches? >> i have no idea. she has said that if she releases transcripts of her speeches, that donald trump should release the transcripts of his deposition and his speeches, where he's being sued. so that seems like it would be appropriate. >> barry, i'm holding your feet to the fire in terms of -- austan is absolutely right, in terms of leasing tax returns, even mark cuban said i'll be on trump's ticket, he's questioning whether he has the goods, the money. you know, what is the truth here? >> he has already said he would release the tax returns. it's not finished. hopefully it will be done soon. >> does he have money that he says he has? >> you can't glean so someone's worth from tax returns. >> austan and barry, thank you. >>> the headline

i said tell me how, austan? said if there are people in france working in britain don't have the passports. >> i said that's it? look, they left the eu, they didn't leave the planet. demand is still the same for all the products that the uk produces. >> nobody cares about that what about here? when people see the stock market going 800 points in two days: i'm looking out for the folks. i want to be "on the on the rec. you feel there is nothing wrong with the american economy. if you buy stocks now you will not be punished long term. >> i didn't say you wouldn't be punished. you may be punished if hillary clinton becomes president and massive tax increases. >> this is why it's not a concern. >> stock market will be fine with anything that has happened over the last couple days. >> let's go to your book "wake up america" i cruised it today and three things caught my eye. >> you say that warren buffett one of the most successful investors in american history is a hypocrite, why? >> because he has made billions of d

>> turns out the control room's actually listening to me and they just reported that i misstated austanolsbee worked for the clinton campaign. of course, they worked for the obama campaign, and you all remember that controversy when austan goolsbee remember that controversy got caught saying that the obama administration won't touch nafta. howard dean, it is fascinating to see what nafta has become in presidential campaigning. of course, al gore didn't campaign against it as the nominee. john kerry didn't campaign against it, but here we are now, and donald trump is now using it to reach over to try to pull bernie voters his way. >> yeah, he is. you know, here's the thing about nafta, that i think people don't really fully understand. the people that are supporting donald trump, and to a much lesser extent, but to a real extent, the people who supported bernie sanders, have been left behind by globalization. their skills haven't been caught. many of them have lost their jobs in the 2008 recession. they're not coming back. so, nafta has become a symbol. what nafta really is, is security.

austan goolsbee nice guy we have him on fox news channel but used to advise president obama, here's how he sort of characterized the vote against the eurocrats. let's play the tape. >> in the uk they had a temper tantrum and pitched a fit and they broke some things. now, it's the other guy. they punch their little brother in the face. now, the little brother is going to have a temper tantrum and it's going to be europe's turn tastart smashing some things. if they have a melt down that will affect the u.s. in a negative way. >> huge declaration of independence and he calls it a temper tantrum. what do you think? >> that is just absurd. any time a country decides to shed a big layer of governing bureaucracy is a big thing. furthermore, england is the fifth richest country in the world. very prosperous locale. the idea that they're not going to continue trading with one another when it is in their best interest is laughable. goo he is way off. >> cash involved in all this, too. first of all, they have to pay about $20 billion to be part of eu. they got some back in subsidies and they also

our guests include austan goolsbee oil also pulling today -- austan goolsbee.g today. we are live at the bloomberg technology conference. among our guests this hour. markets close in about two hours time. ramy: fear is definitely in the air today. markets at session lows right now. down on the order of abo

if we did this thing. >> hi, austan. it's steve.political. one is, what happens to the rest of europe? do we suddenly see a bunch of countries saying, well, nmaybe e should have a referendum and get out of the eurozone and the eu. it's not doing us terribly well. and a point richard haas was making repeatedly earlier, what about scotland, northern ireland, the possible ut of the whole uk coming apart? >> those are both highly tied together in a way it's the same thing. and i think it's extraordinarily likely, when they plot the colors of blue for remain and red for exit, scotland was all blue. i think it's pretty much done deal they'll have another vote to try to join europe. they'll be trying to join a thing that's breaking up. i think, a, the uk, by having its own currency and not really being locked in with some of the same problems that the continent has had and, b, having a bit of water between them and not having a land border, they have had, in a way, some of the mildest immigration and adjustment costs that a lot of the rich

we haven't seen it yet though. >> austan, why wouldn't very seen that yet? can't anyone really address that problem? >> well, you know, there are a lot of deep forces going on in the economy. if you ask why haven't wages gone up. but i think one of the principal reasons in the short run we haven't seen wages go up as opposed to these long-run trends is the economy has been growing but it's been growing modestly. so just hasn't been as tight of a labor market as you need to get wages rising. i think there is a certain irony or problem or something about the way the fed views this that now you finally start to see wages beginning to rise, which in my world and in the world of elkhart, that's great, finally. after a decade or two decades but then the fed says, osh, no, wages are starting to rise, we better rise the interest rate to prevent wages from rising too much. i think we can get on a vicious treadmill if we start down the road. >> so you don't think the fed should do anything? >> it's been my view the fed should not do something unless and until we have

>> economic advisor to secretary hillary clinton austan goolsbee goes "on the record." nice to see you, austin. >> great to see you again, greta. >> okay. austin, tell me why i should not care that secretary clinton doesn't release those transcripts from those speeches to all those big banks and why doesn't she release them? >> well, we got two things. i mean, first thing i would say though was i wish they have had the reshuffling at the trump campaign. the first version of trump was much more interesting. you know, in the primary, he is accusing ted cruz's father of having plotting the assassination of jfk. he said bebb carson -- ben carson was like a child molester. now the speech today donald trump was just kind of rehashing a bunch ever benghazi and older stuff. why wouldn't you be nervous. i would say two things. >> i assume for whatever reason assume that donald trump isn't in the picture and it's a democrat trying to decide whether to vote for secretary clinton or to stay home and that voter wants to know that democratic voter want to know why doesn't hillary cli

lucha and her friend austan anderson, 27-year-old former marine, are alive but badly injured.hey manage to walk to a road and flag down help. anderson burned over 90% of his body dies the next morning. lucha burned over nearly 30% of her body is the sole survivor. >> when you're burning you don't feel it because you are a survivor in that moment. so i'm on fire. i'm wondering to myself, you know, what do i have to live for? am i going to choose to liver or to die. >> ntsb investigators quickly cher row in on what caused the crash. two weeks before the accident the same pilot got an overheat warning in the same plane. the heater shut down without incident that time. logbooks show the heater was inoperative during the plane's most recent annual inspection. probable cause, the malfunction of the cabin heater which resulted in an inflight fire and smoke in the airplane. that's the same thing that led to the 1985 crash of a dc-3 which killed sing eric ricky nelson, son of ozzy and harriet nelson. >> they can cause inflight fire. in some cases it cause carbon monoxide poisoning. it

tucker carlson and austan goolsbee weigh in. >> isil is training and preparing operatives for furthern ignores warnings from top officials and continues to call for america to take in more refugees. plus some

you had austan goolsbee on with maria. he had it dead wrong.e was advising president obama. >> i called him out on that, stop talking about the british people like petulent children. >> exactly. what it has a lot of similarity with what is happening here. people are fed up with the bureaucratic establishment controlling our lives. whether the way we live our lives or way we start business or unable to start business. >> the danger here, i mean when you're talking about the break upof the eu, that is not just the euro. first of all that implies no more euro. all the turmoil that will go with that. germany could end up being broke. greece will certainly end up being broke or have massive inflation. you're talking about hyperinflation and recession. connell: right. that hurts us is your point? >> obviously if the euro goes. if eu goes, i mean obviously the euro goes. the other thing, with the eu, is that basically, one of the major reasons it was created is that these countries have been fighting wars for 3,000 years. go back to rome. there is ser