mexico responded to your >> hi tom, jonathan hoenig.as you said, most people are simply looking for a better life, a better american dream at a time when american employers are looking for employees, why would we stop them at the border? why would we take some of the jobs and build the economy? >> if we need low skilled label or this type of labor, how congress open up the labor market, whatever. we cannot condone illegal aliens coming to the country to take a job illegally. this isn't just illegal immigration. we keep allowing illegal immigration in this country. we are bankrolling the organizations that smuggle guns, drugs. drug cartels for further. within full criminal organizations to the cartel. the same that has murdered a season murdered a siege in spirit as how to do this the legal way. >> and. >> the rule of law begins at the border. ironically immigrants are coming here because of respect for the rule of law they don't have in the country. they have to do it legally and there are ways to do it legally. tom, great to have you o

jonathan hoenig of the capitalistic hegemon and editor of in a textbook called americanism, more about which later and jonas, max ferris founder. scott, jonathan jonas are all fox news contributors and are happy to see them here today. president trump looking for across the board budget cuts. take a listen. >> i would like you to come back with a 5% cut. get rid of the fat. get rid of the waste. i'm sure you can do it. it'll have a huge impact. >> that would be nice, but budget cuts is a star. >> do it, talk about it. the budget is up 17% year-over-year. >> we should be clear. the death exploded because the spending. >> stop spending and start on the federal level. americans of the last 10 years to tighten their belts. time for government especially. if not now, when. we have a businessman president. he said cut the fat. >> some businesses have spend a lot of money. first of all, we are going to have it any day now. >> at take more work than asking for a 5% cut. part of the problem is they were tax cuts to corporations that we needed a warrant fully paid for in the budget. >> to what i

connell: liz peek and jonathan hoenig have been here on the show today.couple tech analysts. on the gab issue which a lot of people hadn't heard of until of horrific event in pittsburgh, someone made to the the point if they're taken down, didn't exist anymore, something well like it could pop back up if the companies crack down. >> i have no sense how many niche platforms are out there. how many subscribers each of them have or what kind of surveillance there is of any of these. you would hope law enforcement would have some sort of eye out on platforms like this which attract kind of kooks and people who are -- connell: on this platform, deirdre reported 650,000 users versus 10 of millions, hundreds of millions for others. jonathan, what is your view on responsibility big picture social media companies when it comes to this kind of thing? >> they are under tremendous amounts of scrutiny. some have stepped up to the plate. to offer various tools to allow people to quash or squelch messages but i worry, the response to some social media companies. faceboo

steve forbes media chairman jonathan hoenig of the capitalist pig hedge fund and jack cao bavarians. z and jonathan are both fox contributors. stocks slammed today. take a look at the dow ended down a whopping 608 points in the nasdaq and correction territory down four by 5%. the dow and s&p 500 are now negative for the year. as concerns grow about orbiter earnings. let's bring in the panel and a lot of problems are affecting the market. the bomb threat today all over the east coast. worries about china, what's happening with the world economy and of course earnings. what is most heavily weigh on the market. >> the tariffs beginning to recognize will affect profit margins, going to infect investing decisions because you don't know what the rules of the game are peer disrupting global supply chains and the fact that we haven't resolved the thing at begin to weigh on the market. get a big deal with china but not on the horizon. >> we've heard from larry kudlow and others that there's no progress in talking to chinese about the many issues we have done. not just unfair tariffs. i do thin

joining me, jonathan hoenig. also the editor of a new tax book of americanism.ics of ayn rand. >> i'm enjoying the show tonight, great to be with you. kennedy: thursdays are always a special evening on the kennedalia show. let's talk about the pain of basic economics. even a big company like amazon wants to save money. when they give some they will take it back elsewhere. >> they pick a wage like you pick a flavor of ice cream. but for businessmen and women, it's not arbitrary. wages aren't based on emotion. they are based on supply and demand. some jobs aren't worth $15 an hour. the net result of the minimum wage is fewer jobs, destruction of jobs it's not my estimate. it's what the labor department said when the first minimum wage as you instituted. >> we said it a million times on this show. it ends up hurting the people who need those jobs the most of. now they are the last ones to get them. that's what happens because amazon i'm sure they could afford a lot. but they also owe something to their shareholders. i think it's dangerous for bernie sanders to set

connell: deirdre we'll pick up on that point go to our market panel liz peek, columnist and jonathan hoenig from the capitalist pig hedge fund. both jonathan and liz are fox news contributors. deirdre is getting at something they're calling peak earnings. not a liz peek. >> ouch. connell: the idea, we've seen the best, what do you make of that jonathan, especially on the sales side she said? there is some concern there, right? >> the earnings are terrific, but what we've seen often times, colin, the stocks traded down after those earnings. i think the market is indicating structural problems here. almost 500 new 52-week lows. only about 30 new 52-week highs. as deirdre pointed out the banks just a bloodbath today. materials stocks, homebuilders, despite the fact you said the economy is strong, earnings are good, the fact market is so weak i think a harbinger of bad times. connell: we saw some strength to be fair in technology, liz, bouncing back but what do you make of what jonathan says there are structural problems in the market? do you notice the same thing? >> i think earnings will cont

to to jonathan hoenig and gerri willis. the fear is this is going to accelerate.you sell this market short based on what happens over day two or three, you pay for that dearly. will investors now selling out be paying for that? >> neil, something has changed here. we haven't seen this really for the better part of ten years now, a sustained move higher in interest rates. as you said, the velocity of this, the speed at which interest rates have begun to shoot up, we haven't seen this in quite some time. i'm looking at the 52-week low today, it is littered with bond etfs and that's one of the reasons why i think you have to be concerned. i'm seeing almost 180 new 52-week lows, only about 52 new 52-week highs. this says that now is the time to be very cautious in this market. neil: what are you hearing? >> look, one of the sectors that's getting really killed here is housing, right? neil: absolutely. >> why? because people have to take out loans and mortgage rates matter to people out there. i got to tell you, this goes to a point you have been making all day long. t

jonathan hoenig of the capitalistic hegemon and editor of in a textbook called americanism, more about

liz p., jonathan hoenig of the capitalists is hedge fund in gary kaltbaum, president of cult capitaln the way from florida to be with us

melissa: bring in today's panel jonathan hoenig from capitalist pig hedge fund a fox news contributor. carol roth, former investment banker and creator of the future file legacy system. thank you both for joining us. carol, i would point to you what federal reserve chairman jerome powell said, a period unprecedented in modern history as you look at another record today on wall street. can you believe it or do you think it's a little long in the tooth? >> no. i can believe it. i think that there are a lot of things that are going, that contend it is going to continue. if you look at the brett of the rally, it hasn't been particularly broad. so it was niece to see an industry like financials today, finally participating and i think that we do. we have a lot of good news ahead of us. so i think there is room to run here. melissa: jonathan -- >> i'm not a pessimist. i know -- melissa: i just want to ask you, so the president tweeted out the only reason to vote for a democrat is if you're tired of winning. do you think that some sort of political changeover in the house or the senate would

jonathan hoenig, capitalist pig hedge fund, michelle mckinnon, payne capital management. thank you for coming on. today, michelle, that was not a very positive close for the market. what did you make it in terms of what led us negatively into the close today? >> very hard to tell on any given day, i simply say trees don't grow to the sky, right? pullbacks are very normal and healthy and on average we get one 10% correction every year, to year-and-a-half. it is, that's normal. what i would be looking at is corporate earnings. what's going to happen this quarter and last quarter. i think you will continue to see companies beat on expectations. any type of pullback we're having right now is opportunity. connell: 27% gain in s&p five earnings in the first quarter. 25% in the second. jonathan, expectation we'll see for third quarter is 27%. >> earnings don't matter, connell. earnings are not what is as important. it is the stock market reaction is important. as lauren pointed out, bank of america double beat the stock fell as a result. from a technical perspective this is stil

jonathan hoenig from capitalist pig hedge fund, fox news contributors, and danielle dimartino booth and former federal reserve advisor which has a big part to play. october 1987, the market was down 23%. today was substantial 830 points is 3%, no comparison. since the election the dow jones has gone from 18,000, or thereabouts to 25,598. it is still about a 35% increase from where it was when president trump was first elected. so putting things in perspective, it's bad but it could be a lot worse, right? >> yeah. in the immortal words of ace greenberg stocks fluctuate. look this happens. as you said we've given up a few months worth of gains. the dow and s&p at seven teen sometimes forward earnings. i don't know if that is crazy with a growing economy, growing earnings. atlanta fed, st. louis fed, saying 4.2% gdp growth in the third quarter. melissa: wow. david: danielle, the president himself wade in on what the fed is doing in terms of raising interest rates. we'll have two, three, four more interest rates rise over next 12 months, as a result of that. a lot of people are saying, gee,

jonathan hoenig who we have on the phone. jonathan, the selling picking up some momentum.d out what started out as the technology name. they are holding out. today a knockout international general motors, ford, a lot of those interest rates sensitive and economically sensitive names. when the paddy wagon comes, they take the good girls with the god. today is the day we see the paddy wagon calm. >> i was going to pick up on the analogy. a different approach here. we are breaking some key moving averages on the major indices. the best reforming factor. how much damage or is it too early to make an assessment of where this could take us. >> you have to put it in somewhat. 300 points a shocking but it's not uncommon. it's not even 1.5%. it is being done in the technology names, the nasdaq down well over 125%. in particular i'm looking at stocks like tesla, for example. this is your stock over the last couple years. valuation essentially out the door. tesla over elon musk settlement with the fcc. the stock is now below where it was when the announcement, the fcc announcement fi

let's bring in capitalist pig hedge fund manager jonathan hoenig. companies like google and facebook have an enormous amount of power which i think is dangerous. i'm sure you disagree with me on that. but i can see regulation or antitrust coming right down the pike right at them. you? >> well, you seem to be encouraging it from what i hear. you keep warning people about this terrible power of amazon, terrible power of google. you completely conflate economic power with political power. economic power is what amazon, what google have. that's the power to trade. any power that they have, they have earned. you say they have the power but stuart, you undermine what they have given us. remember in the 1980s, in the '80s, the encyclopedia britannica cost $18. to be encouraging regulation is a worrisome sign and the fact it's coming from so-called conservatives and capitalists, no wonder facebook is at a 52-week low. stuart: i recognize that i'm reprehensible in your eyes, but nonetheless, i think you have been right on big techs. am i not right that just