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ken fisher, talking about heavyweights in the business, fisher investments founder and chairman with ken, president outlined that social security and medicare are not going to be touched, will not be touched next 10 years. whether that was rope-a-dope tactic he locked himself into a corner, trying to lock republicans into a corner, what do you think? >> the whole speech was a campaign speech. let me make a simple point i don't think most people think about. you can't go back through modern history and find a state of the union address that requoted a year or more hater. just try to think of a famous line from a state of the union address. i can think of one phrase, only one phrase, of any of them, the reality today in this era it's a campaign speech. it doesn't really have to be accurate. it doesn't have to be about reality and it wasn't. neil: what's the one you remember? >> the phrase, axis of evil. the only one that really endures. do a google search trying to find famous lines from state of the union addresses. there aren't anybody knows or ever requoted. they don't exist. neil: i

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joining me is ken fisher. a reaction to what the fed chair said? >> you just said the word react. what he said was the word react. he said react multiple times. what they do is react, they don't actually know what they are going to do. he doesn't know what he's going to do. he's going to react. i said this many times but if you go back and see what he said in may when he said we are not considering 75 basis points and then four times in a row they did 75 basis point hikes. they don't know what they are going to do, how is anyone else going to figure out what they are going to do? short-term moves about speculation are logical but it is a bull market. in some ways it is secondary. liz: are you saying this is a bull market, not a bull reaction? >> right. liz: simple as that. let me push it back on powell is only going to react, don't know if you meant that in a negative way, but wouldn't it be better to wait to see data than to have an idea and a plan and a path and stick to it even when the facts change? >> since what he's doing is nonsense to begin with i don't think so. let me go