europe, there would be no galileo. without -- be proud of that. present geopolitics tells us that -- europe has to embrace its destiny. europe has a capacity to influence world affairs. europe must increasingly be a sovereign player in international relations. the european sovereignty derives from the national sovereignty of our member states. it does not replace what properly lies within national purview. by -- we strengthen all of our component nations' regions. that's part and parcel of belonging to the european union. european sovereignty will never be directed against others. europe must remain tolerant, open. they will remain so. europe will never become a fortress, turning its back on the world. in particular, the suffering part of the world. urope must and will remain a multilateral continent because the world belongs to everyone, not just a few. that's what's at stake in the european elections in may 2019. in the 250 days between now and then, we must get across to our citizens the evidence that when we act together, the european union can achieve results. and it respects the commitments we entered into at the begin

only be described as nail—biting scenes. ago, the defeat of tiger woods on the europe team. the europe team. ryder cup europeeam have won their match. match. before four o'clock, there was that clear win. clear win. enough to have half a point in it. point in it. got a round of applause from the grandstand. grandstand. wild card selection to play in the team. team. world number one dustinjohnson to get that point for europe. get that point for europe. dramatically but in the end, ideal conditions for the ryder cup match. conditions for the ryder cup match. europe got their victory, thanks to players like sergio? players like sergio? garcia and his fellow team members. fellow team members. and, of course, that victory over tiger woods. that victory over tiger woods. who is live in paris, later over the course of the hour. course of the hour. we will try and get him tojoin us. get him tojoin us. it looks as though he is there. i can see him in paris. paris. line out to him so he can fill us in on the stage by stage of this map. on the stage by stage of this map. regained its victory in the ryder cup, regaining

is now double that of europe by twenty one hundred would be ten times the size of europe so europe should focus on africa. and who can help europe never china so europe is going to work with china instead of opposing china because america is china if you don't mind we're going to go through all three of those adams step by step that will start with trump. you mentioned w t o he wants to pull america out of the w here he was skeptical of their concessions from the very beginning when he became president if that actually happens if america is out of there are going to zation what would that mean for w t o and for the global economy here actually i have some good news for you. the good news is the rest of the world won't carry on with w t o with or without the united states and just a few days ago i had a conversation with mr pascal lamy the former head of the word biggio for many years and he said kishore the wu can carry on without the united states and the unitas is surprisingly will pay a price if it leaves the deputy oh so this is where i think the united states should think very

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give your up to europe itself europe never felt as close to russia as it does now good days good friends and then yeltsin just upped and left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election boots and of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expansion an encroachment european security trade and no one's what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. and more news coming your way after this short break. you know world is

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give year up to europe itself europe never felt as close to russia as it does now good days good friends and then hilton just up then left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election in of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expansion encroachments european security trade and loans what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. still to come amazon's in the firing line over working conditions for its american staf

europe of today. we must all take responsibility for the europe of tomorrow. such is history. parliaments and commissions come and go. europe is here to stay. but for europe to become what it must, there are several lessons to be learned. europe can no longer be a spectator or a commentator of international events. europe must be an active player and must become an architect of tomorrow's world. there is a strong demand for europe throughout the world. and to meet such high demand europe will have to speak with one voice only -- on the world stage. voicest nations, europe's must be heard clearly. made europe's diplomacy more coherent. it is more coherent than it has ever been. let us not slide back into the incoherence of competing and herald national bank lummis sees. diplomacies.s -- from now on in, i would like us to make more efforts to bring together the east and west of europe. it is time we put an end to the spectacle of a divided europe. our continent and those who brought an end to the cold war deserved better -- deserve better. i would like the european union to take better care of its social dimension too. those

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give year up to europe itself europe never felt as close to russia as it does now good days good friends and then yeltsin just upped and left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election putin of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expansion of encroachment european security trade and loans what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. american consumers might be facing a tricky time ahead the new chief of the us

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give your up to europe itself europe never felt as close to russia as it does now good days good friends and then yeltsin just up then left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election in of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expansion and encroachment european security trade and loans what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. american consumers might be facing a tricky time ahead the new chief of the us cons

exporting cocoa to europe but this would create thousands of jobs in ghana and the ivory coast young people would be employed locally and would no longer head for europe. but europe only wants to make profits and does not think long term that there needs to be a win win situation in this relationship with africa we said for me it's really all just a facade. we know exactly what the problems are and all. we need is the capital in those countries not in politicians' hands but in the hands of business people. we just open in the usa there are a lot of creative minds in africa are they able to transform their ideas into businesses what about your country cameroon but the fact that you have not come would come up with well cameron is a special case. but in fact there are various countries now on the right path when we talk about africa it's not all the same it's not homogenous some countries really work but one is doing great economically and politically there's gonna and south africa it means that as an african i can see which countries are like to go see it and set up a business but in cameroon it's really difficult at the moment i come up with. the fear and it seem

there. , the something of a comfortable victory for europe —— in the end. , the something of a comfortable victory for europe -- in the end. victory for europethe end. is that how you had it? that how you had it? that europe had coming into the final day. final day. have had it wrapped up around some of those made matches today. of those made matches today. get bread on the leaderboard and they did that. they did that. slipped to defeat in the first one as he led europe out. as he led europe out. reached the total to win the ryder cup. here is the story from today. strongest american teams coming to europe's backyard. europe's backyard. impressive ryder cup performances you'll see. you'll see. famines are beaten by an american team dreaming of drama. team dreaming of drama. jon rahm had other ideas. other ideas. he beat tiger woods, pumped up. pumped up. against dustinjohnson, or am one in the world. but this is ian poulter. that tierney number one in the world. world. this is the ryder cup and you know the west. the curtain go! macaque francesco molinari go. he had already won four points and he found the drink. he found the drink. man to e

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give your up to europe itself europe never felt as close to russia as it does now good days good friends and then hilton just upped and left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election putin of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expansion and quote european security trade and loans what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. a passenger jet has overshot the runway and caught fire in southern russia leaving eig

states and provide security to them i would take europe and provide them security well not i russia will bill i'm serious give your up to europe itself europe never felt as close to russia as it does now good days good friends and then yeltsin just up then left leaving behind a successor that clinton was sure he'd get along with shortly you will have a meeting with mr putin i would like to tell you about him so you will know what kind of man he is he is a solid man who is kept well abreast of various subjects under his purview and he can easily have good relations and contact with people who are his partners who will win the election putin of course he's a democrat and he knows the west he's very smart he's tough he has an internal ramrods and he will when you do business together strange to think that most of the issues problems they discussed in those days are still the main themes of today nato expand european security trade and know when european security trade and no one's what's changed is that russia's grown up turns out it's much harder being friends when you're more equal. retailing giant amazon is in the firing line over working c

europe's backyard. impressive performances you will see. see. start of sunday, europe packed their best players at the beginning. best players at the beginning. themselves beaten by an american team dreaming of drama. team dreaming of drama. other ideas, beating tiger woods and beating his chest. beating his chest. more rookies delivered for europedelivered for europe. against dustin johnson, number one in the world. but this is ian poulter. this is the ryder cup. and, well, you know the rest. look at it go. look at him go! look at francesco molinari go too. francesco molinari go too. mickelson, and with europe on the drink. drink. mullan re to ensure ryder cup would stay this side of the pond. —— molinari. molinari. they said it couldn't be done, at least some dead. done, at least some dead. well, what do you think now? do you think now? as the champagne sprayed, europe emphasised their parisi and power. emphasised their parisi and power. sergio garcia became the all—time leading points scorer. leading points scorer. fancy a fitting finale, alex noren is your man. is your man. 18th green, galleries packed, never looked like missing. looked like missing. seven points was the margin of victory. was the margin of victory. the meaning is so much more. meaning is so much more. this is a europe united. it has been absolutely amazing,

europe. europe the trade minister for the e.u. saying we'll drop all auto tariffs. >> trump said i don't like that. we didn't have a problem with canada and mexico until trump started attacking them for stupid reasons. canada. he's constantly going after the dairy program there. i agree it's a terrible government subsidized thing. but it's $6 billion a year industry. it means nothing to the american economy. dagen: but president trump is a politician and it means something to the people who voted for him. he ran on reapproving these trade deals. none of you guys in d.c. would have jobs if you didn't have great politicians winning these races. my point is, i talk to people who want better -- there was a woman on maria's show in the past week who sells cheese. she sells string cheese flavored with fruit, and she wants to be able to sell into canada more easily. >> that's fine. we have a 180% tariff on peanuts and tobacco. we have a few of those agriculture protection thing too. but in the big scheme of things the, irrelevant political maneuver that isn't going to make jobs in america. the thing about mexico, of course they like the deal. trump is saying you have to raise wages to $16 an hour in mexico. that's good for mexican workers. he's saying 75% content. dagen: it puts us potentially on a level playing field with mexico. >> it's not even close. the uaw is $30 to $60 an hour. dagen: how is it not good. when you saw the release of the mexico deal the market cheered it. >> the market is delusional. trump is a clear and present danger to this economy with his massive deficits. dagen: we are going to get to that. becauser indicator i looked at, you can't find one that's bad. so we'll talk about that with david when we come back. we'll be right back. >> announcer: stocks are soaring and corporate profits are booming but david stockman says it won't last. more david stockman know what? no, what? i just switched to geico and got more. more? got a company i can trust. that's a heck of a lot more. over 75 years of great savings and service. you can't argue with more. why would ya? geico. expect great savings and a whole lot more. (♪light musical cords) dagen: corporate profits booming in the second quarter, rising 16.1% fueled by tax cuts, strong economic growth. those are the largest year over year gains in 6 years. back with me, david stockman. is this sustainable? going to break i said you cannot find one negative thing to say about the economy. >> the profit boom is an illusion. it doesn't take intogether the one-time impact of a tax cut after four quarters and the rebound from the profit recession we had in 2016. if you go back to 2015, they dropped by 18% the next four or five quarters. now think rebound back and they would be $117 a share for the quarter. so that's 3.5% profit growth the last four years. when you put it in context it's not close to wait appears to be. and we are 10 years into a business cycle. at some point a recession is coming and profits will drop. dagen: we had a guest on "mornings with maria" saying because this expansion didn't experience the corporate investment boom or learning boom or a real housing boom in most of of the country, that means this could go on longer. when i say i have looked at the quarterly growth numbers. current estimates for this quarter. wages growing, consumer optimism at an 18-year high. the average grob growth this year for the first 7 moist faster than it was last year. i will put it to you. tell me something bad that's going on right now. you worry about 8 months from now. >> whatever is going on isn't due to trump, it's just the momentum of the economy that's in a business economy. the 4.2% was a total aberration. you had soy bien so i -- you ha. and uncle sam borrowed the money and gave the consumers a tax cut. dagen: there has been an acceleration in economic growth. >> it's one quarter. dagen: the 7-month average this year is 215,000 jobs. >> they keep revising the jobs data. the first six quarters under trump, and he had nothing to do with it. gdp growth was 2.6%. in the last seven quarters of obama, and he had nothing to do with it, it was 2.5%. there is no acceleration in the economy. we have an economy freighted down with debt. we have an economy that hasn't invested because the fed encouraged corporations to use their cash flow on their balance sheet to buy back stock. dagen: investors aren't worried about the level of debt right now. they are worrywarts. they are paid to worry. and they are not because you still got yield on the 10-year treasury in the last week that was deep below 3%. >> in europe 8. but the point is all the central banks of the world pivoted to qt. they are shrinking their balance sheets. they will be dropping $600 billion a year worth of bond into the market, not buying. dagen: i take issue when individual in this country, your average working folks, man and woman who are feeling good, plenty of jobs out there, they are optimistic, they are going out to stores, spending money, their disposable income is growing and adjusting for inflation and people can't say anything good about it. >> i don't want to say anything good. you know why? we are burying ourselves in debt. washington is out of control. 10 years into the recovery we'll have a $1.2 trillion deficit. they are little entitlements run. they raised defense spending for no purpose. dagen: the president wants to freeze the automatic pay increases for civilian workers. >> i'm all for that. dagen: you just said trump is doing something good i'm all for it. >> i am all for that. but if you look at how much mo

europe. well europe has no interest in global protectionism increasing on the other hand there are opportunities for european companies now and there are opportunities for europe to get to stay out of this rao so it could be that on the one hand the chinese will make concessions to the europeans to intensify trade with europe and it could also be that some european companies those competing with chinese companies in the u.s. market. may increase their market share so this scenario where the conflict is mostly between the u.s. and china is in fact quite positive for europe of course we know trump is very volatile so he could easily turn to europe very quickly but father for the time being europe is in a more comfortable position because clinton's first there advocates of a cleaner and greener fashion industry say a shift in the way designers do business depends on the mant in other words the onus is on us to make the sector more sustainable others argue fashion houses the one sitting on mountains of cash which could be used to change consumer habits is what's trending at milan fashion week. beauty may rule the catwalk. but as soon as the lights go out fashions

europe and italy five years from now? paolo: that is the most difficult question you have asked me. this will depend from italy and europe as well. europeme charming sum of rulesst the to be applied to the countries. if europe he comes more charming , more appealing, more popular, then italy will come and other countries as well, will become closer to europe. francine: is this europe reforming itself, or is this politicians around the world making the case for the benefits of being in the eu? paolo: no, you see, the point of me is that by a choice national government, we have built a europe which is not politically attractive. i was asking the other day to a friend of mine, tell me who was the predecessor of mr. juncker? i don't remember. he has been the president of europe for 10 years. i don't remember. mr. -- gone, forgotten. blair, ieveryone mr. don't know, so what does it mean that we have built a europe which was not popular to the people? was a kind of technocratic mechanism. ?here they manage a lot of money. rules,n find countries, so maybe power, yes, but not europe which speaks to the people. francine: does that mean you will