larry kudlow, thank you very much. larry kudlow the chief economic advisor of the president of the united states outside of the white house. all right. we are also following some violent development certainly in the city of chicago. right now it's frustrating the mayor to the point of saying you know, maybe a lot of this violence is being shipped in. what we do know is the magnificent mile ain't so magnificent. in fact, some businesses are leaving because they have had it. after this. as a caricature artist, i appreciate what makes each person unique. that's why i like liberty mutual. they get that no two people are alike and customize your car insurance so you only pay for what you need. almost done. what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ you say the customers maklet's talk data.s. only xfinity mobile lets you switch up your wireless data whenever. i accept! 5g, everybody's talking about it. how do i get it? everyone gets 5g with our new data options at n

so we try to be true to that, as well. >> larry kudlow, thank you for your time. thank you for returning to "firing line." we appreciate it very much. >> my pleasure. thanks for having me. >> "firing line with margarehoover" is made possible in part by... and by... corporate funding is provided by... >> you're watching p. > llo, everyone, and welcome to "amanpour & co." here's what's coming up. >>> new allegations against salman filed in a ourt.mmed bin a former saudi spy chief claims he could be the next victim after journalist jamal khashoggi. >>> and in beirut, the latest for the people there. >> i think people liked this story so much, they didn't even question it. >>> the whistleblower who brought down theranos and what that says abe coronavirus vaccine.

spoke with larry kudlow earlier, who says the two sides remain far apart.ks are rather stalemated right now. there was a better tone earlier this week. through last evening, they have not been any breakthroughs. that is unfortunate. ritika: the main sticking point is the topline number. democrats won $3.5 trillion of aid, republicans want $1 trillion. rescue teams are continuing the grim task of uncovering bodies hit lebanon'ssion capital tuesday. more than 5000 were wounded. it was caused by the ignition of more than 2700 tons of imodium night that was improperly stored. -- the ammonium nitrate that was improperly stored. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm ritikauntries, gupta. this is number. guy? taylor? taylor: back to the jobs report. the u.s. labor market continues to regain ground. employers hired almost 1.8 million workers in july, beating estimates. the jobless rate also down to 10.2 percent. joining us is tom gimbel, lasalle network's ceo. less all network i

so we try to be true to that, as well. >> larry kudlow, thank you for your time. thank you for returning to "firing line." we appreciate it very much. >> my pleasure. thanks for having me. >> "firing line with margaret hoover" made possible in part by... and by... corporate funding is provided by... >> you're watching pbs. the people who give the money to make mister rogers' neighboood are the people who contribute to this and other... and... captioning made possible by u.s. department of education ♪ it's a beautiful day in this neighborhood ♪ ♪ a beautiful day for a neighbor ♪ ♪ would you be mine? ♪ could y be mine? ♪ it's a neighborly day in this beauty wood ♪

the economy, paul romer stunned me yesterday when he called larry kudlow a liar for hire. dministration can't hire a real economist because they only hire liars for hire. i don't pay any attention to what kudlow says. stuart: larry kudlow will come on later in the next hour. we will get his response to that absolute insult next. we will be back. ♪ ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ we've just been finding a way to keep on pushing. these days, businesses are adapting to new ways of working. and innovation is at the heart of it. verizon 5g ultra wideband is the fastest 5g in the world, with speeds up to 25 times today's 4g networks. its massive capacity and ultra-low lag time is already available in parts of select cities around the country. which means businesses both large and small can innovate like never before. in-person concerts not happening because of the pandemic. a streaming company is trying to bring live music directly

that is larry kudlow talking to jonathan ferro earlier on. larry kudlow is trying to put a positive spin on things. this looks like a good report. is a good report? >> we made progress. that's the important thing. we didn't backslide. it was a very wide range. there has been a lot of noise coming from a variety of different sources. survey,he census bureau which ended. it went to the reference week. that was suggesting a decline. the home base is starting to show a flattening out of people reporting to work in key service industries. we had the unemployment claims which continue to be in the millions every week. leading up to this data, there was a lot of reason to suggest that the pace of increase had slowed. slowed, the good news is it's continuing. some continuing despite slowdowns we see around the country as a result in cases. to put this in perspective, you can look at this with percent change, you look in the second and third derivative. if we look at levels, on a percent change basis, we are down 8.1% on it gdp. we are down 8.8% on jo

david: that was larry kudlow. we have heard from the white house. hear about what the stimulus talks look like from the point of view of congress. we will come french hill of arkansas who serves on the financial services committee. before we get to the new stimulus, let's talk about what has come before. cochair of acting commission that looks into that, and i think you had meetings today on it. what are you learning in the first round's of stimulus that may inform the next one? oversight had an commission, our bipartisan oversight cares commission met to look at what congress has done with the so-called main street lending program which is now up and running. capital is flowing to businesses through that. however, we think it should have gotten started faster and should be more flexible for businesses suffering temporary distress because of the coronavirus. david: is the lesson you learned from that, on the one hand, the fed is being dilatory, or is it bestthe fed is not the place to deal with this, that we need a new ppp to help main street here?

larry kudlow joins us again later. what does he think of a $12 trillion increase in the value of american business in less than five months? he's got something to say about it. he's on the show. wednesday, august 12th. "varney & company" is about to begin. stuart: let's get right at it. stock of the day, tesla, way up this morning. susan, that is a very big $84 gain. why is it up so much? susan: stock split. five for one starting at the end of this month which is usually a bullish sign that the company is expecting the stock to go up again. it also makes it cheaper for average investors to afford the stock. $1400 might be hard to afford for some, but easier when it gets down to around $300 a share. stock splits don't change the value of a stock or the company. doesn't really change much for tesla given it's not in the dow jones industrials which is price weighted while the nasdaq and s&p 500 are market cap weighted. stock splits have been popular this summer, as you indicated. apple's splitting four for one near the en

i want to start with something that larry kudlow said last night. let's watch this. >> americans are going back to work. there's a housing boom. there's an auto boom, a manufacturing boom, a consumer spending boom. stocks are in record territory. >> a boom. a boom while we've got 30 million people out of work, 80,000 small businesses have shut down. would you characterize any of what we're seeing as a boom or a selective recovery? >> i would say we went from federal reserve chair -- by the way, good morning, stephanie. it's good to see you. federal reserve chairman powell made the case. we went from the strongest economy in nine years to the worst economy in weeks. this has been unprecedented. yes, the recovery adding back 9 million more jobs has been very impressive, no doubt about it. but larry kudlow and the president will tell you that our work's not done. we believe we need another round of ppp for our small businesses. we need more incentives to help the industries that aren't going to recover quickly. they're going to need help rehiring and k

i am larry kudlow area years ago, i work for ronald reagan. more recently, i helped the team craft donald trump's economic plan during the campaign. it was a success. inheriting a stagnant economy on the front end of recession, the program of tax cuts, historical rollback of onerous regulations that crippled small businesses, unleashing energy to become the world's number one producer, and free, fair, and reciprocal trade manufacturing,r agriculture, technology, and other sectors. the economy was rebuilt in three years. unemployment fell to the lowest rate of 3.5%. luke ellis, african-americans, hispanics, women, all groups benefited enormously. everybody was better off. a rising tide lifted all boats. then came a once in 100 year pandemic. it was awful. health and economic impacts were tragic. hardship and heartbreak were everywhere. but presidential leadership came swiftly and effectively with an extraordinary rescue for health and safety to successfully fight the covid virus. alsoreat bipartisan rescue saved the economy. right now, our econ

fine by me. >> thanks, larry kudlow.appreciate it. >> we'll be right back. ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ we've just been finding a way to keep on pushing. ior anything i want to buy isk going to be on rakuten. rakuten is easy to use, free to sign up and it's in over 3,000 stores. i buy a lot of makeup. shampoo, conditioner. books, food. travel. shoes. stuff for my backyard. anything from clothes to electronics. workout gear. i even recently got cash back on domain hosting. you can buy tires. to me, rakuten is a great way to get cash back on anything you buy. rack it up with rakuten, sign up today to get cash back on everything you buy. [ind(mom)ct radio chatter] come on, hurry up! all systems go? (mission control) 5 4 3 2... and liftoff. (vo) audi e-tron. the next frontier of electric. get audi at your door remote services through participating dealers. latonight, silenc

we saw larry kudlow was on.tlight was on the first lady which included entire passages lifted word for word from michelle obama speech. she is the one who took on the virus. she is the first of the keynote major republican speakers to express sympathy, comfort, grief who have been dealing with this deaf va stating pandemic. >> it would have been nice to hear about the grief in the last six months. david drucker, who is the audience precisely for this election? we know president trump's base is with him. as he said famously, i could shoot somebody on fifth avenue and they would be with me. if you're an msnbc viewer you can't believe what you're hearing. you're living in the reality of this pandemic and you can't believe it's being ignored here. who are they talking to? what are the states they're addressing? what are the groups of people? >> right. so let's remember, too, that as well as joe biden is doing in national polls, in the battleground states that are going to decide this contest things are closer and th

larry kudlow praised the stock market at the republican national convention. let's get your initial read on the day we had overnight and the fact that risk assets are still pushing record levels rs especially in the u.s. equity. >> definitely. we have had further con frmation -- the policy fake confirmation to provide the stimulus, the numbers coming out of germany and the g.d.p. numbers showing the commitment they have in terms of providing stimulus programs. this will continue whether it is going to be the u.k., the u.s., i believe the policy makers are significantly convinced that it is hard to avoid any social tensions that mass unemployment would cre. -- create. now it is going to be more of often rather than a v-shaped recovery. because we have a significant number of s.m.e.'s. which rely on the broader economy. >> i appreciate there is a lot of cheering on of new stimulus package fwuss rational side in me asks the question these are staggering amounts. who is going to pay that back and when? >> there is a very interesting philosophy. the school of thoug

larry kudlow and donald trump had nothing to do with energizing that economy. kudlow did again tonight mention the trump plan to cut social security taxes, and we just had the breaking news last night that i mentioned here was that the chief actuary of social security has said if the trump plan goes into effect, six months into the next presidency, 2021, six months in, disability payments would stop, and they would stop forever. the trust funds would be incapable thereafter of paying any disability. retirement benefits would stop in 2023, halfway through the year, forever if the trump plan goes into effect. that's part of what was inside larry kudlow's speech tonight. >> alicia, let's go back up to where claire started the show. we call it the curated naturalization ceremony and how discordant people like claire and people watching found it, not only to the tone, tenor and remarks of this gathering so far but the message sent by this administration. >> claire used the word "props" and that's the same word that i've heard from immigration advocates who highlight

but what i want to ask you, also, about larry kudlow is unemployment benefits. the president mentioned he thought he might be able to something by executive order. how would he do that? where woulthe money come from? i know there's up spent money from what was passed e spring. is that what the white house is looking at? >> there may be some repurposing of unspent funds,udy. i can't say. i'm not a lawyer. they're combhg trough a number of things. i don't want to give away, i don't want to negotiate here. i'm just saying it's something we are worried about, first of all, look, the economy is doing much, much better. we all still believe in the v-shape recovery. newe had verys today on unemployment claims dropping for, again. wem,e seen a housing b a manufacturing boom, inventories at rock bottom. it looks to us like a self--sustaining recovery, but there is still harhehip, t is still heart break as we deal with the virus, and we want make sure that people have a good, constructive unemployment plan with, i might add, added benefits for returning to work. so we are

stuart: you can't believe something from somebody like larry kudlow? , paul. >> just trying to tell you the way they operate. i don't pay any attention to kudlow says. no serious economist, by the way kudlow isn't a economist. the reason this administration can't hire a real economist they only hire liars for hire. you get people who will say whatever the administration wants. but you can't get credible people. so i don't pay any attention to what kudlow says. stuart: i'm going to leave it right there because that was really insulting for many of the people who serve in this administration. you have branded them as flat-out liars. >> liars for hire, yeah. stuart: no, no. what you're say something really rather insulting, paul. you know. liars for hire? are you calling larry kudlow a liar? >> yeah. of course. he will say anything that will help this administration. stuart: kevin hassett, a liar? >> i feel in fact. stuart: kevin hassett is a liar? >> they have to just, they have to, look, if you want to hear somebody who will tell you things that aren't t

manus: larry kudlow thinks we are in for a 20% recovery. we can debate that.amy chaar, our guest this morning. your first word news. to germany, they are extending the job aid program that have kept millions of people from unemployment. it was originally intended to last 12 months. now they will be provided until 2021. about 5.6 million people were on the benefits program in july, down from 7 million in may. a third night of unrest in wisconsin. the governor has declared a state of emergency after businesses were vandalized and dozens of buildings set on fire. it was sparked by a police shooting a black man the magic it was sparked by the police shooting of a black lake.acob laura is forecast to become a category three storm when it comes ashore on wednesday into thursday. there are a nurse the louisiana closed as winds are expected to hit 120 miles per hour. ,ccording to a disaster modeler it could cause up to $18 billion of damage. global news, 24 hours a day, on air and @quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than

larry kudlow, answer, good question. good question. we will probably find that out today or tomorrow as we make our canvas. mr. president, if there wasn't another sign that what happened in new jersey was a total show, this tells it all. they laid out a plan asking states that run out of money, but if they have money to rob peter to pay paul, but it didn't even ask states if it was doable. they didn'tta even ask the stats if it was doable. and that is a reflection of this entire plan. let's look at what the president said about the second piece, payroll tax deferral. now, a lot of americans might have heard that and thought i'm an employee, i'm working, and now the portion of my check that is withheld for payroll taxes like social security, i'm not going to have to pay that anymore and that will be money in my pocket. that's not what it did. what it did was say to these people who are working, and by the way, as we all know deducting payrolls taxes from payroll checks is not help the people who don't have a job. they've got nothing to

larry kudlow from new york city -- check in with larry kudlow. from new york city this morning, good morning. this is "bloomberg surveillance ." ritika: all eyes are on this morning's upcoming job report. after a surgeon coronavirus cases across the u.s., all signs point to a slowdown in job gains last month or worse. it is following a combined rise -- of 7.5lli million in may and june. negotiations on a new arenavirus relief bill edging towards the break of collapse. a meeting thursday between white house officials and congressional democrats ended with each side accusing the other of being unwilling to compromise yet the main sticking point is the top line number. the democrats want $3.5 trillion of aid. republicans want $1 trillion. shocked by it is the executive order barring americans from doing business with the company, and plans to challenge the order. holding stumbled on the news. .hares fell as much as 10% a grim milestone in india. health officials say the country has surpassed more than 2 million coronavirus cases. more than 41,000 in

larry kudlow said they weren't sure how many states will participate. how real is this? few yo if you're somebody at home hearing the president say hearing $400 additional a month, should they believe it in the short term? >> i just don't see how they can. the reality is, one, the kind of bureaucracy to go through at the state and local level, one as you mentioned, the states have to accept it and agree to it. it is not clear, as well, what this would do to fema funds used for hurricanes, we are in the middle of hurricane season. do they think we'll deplete the funds entirely in the next month but not coming that quickly, is sort of robbing peter to pay paul. this doesn't make any sense because we are going to need the funds especially in a crisis like this where homelessness is already on the rise and food insecurity on the rise and homeless and food ensecurity the likes of which we have not seen since the great depression and doesn't fix that and that's hard about it that congress needs to do something and now and the fact that benefits have lapsed it is $18 billion a

he is larry kudlow. he joins us now from the grounds of the white house. nomic adviser to president donald trump. larry, first of all, just general question, what do you think of that jobs number? >> i think it was a very important, very positive number, david. it really tells us a whole bunch of things. number one, the job recovery continues. bear in mind that this was in july, the week of july 12th to 18th. that was smack in the middle of the spiking hot spots in the southwest and a few other places. so the diminution or the worries that some partial shutdowns or some pausing shutdowns would wreck the job numbers did not pan out. i think that's a great sign of strength. getting unemployment down to 10.2% puts lie to the idea we will have double digit unemployment in the fall, around election time. you are going to see single digit unemployment rates. we may not get back, we are not going to get back to where we were at the peak in february, i grant you that, but the idea we are going to get down to, you know, below 10%, 9%, 8%, i don't want to go too far

colleagues, either the sunday shows in real time our reruns have read about them, here's what larry kudlow has asked on the cnn morning show. simple question, have you checked with the states, how many of the 50 states in d.c. and other territories and did they say they would pony up the $100 a week for unemployed citizens, larry kudlow, answer, good question. good question. will probably be fine out today or tomorrow as we make our tents. mr. president, there was not another sign of what happened in new jersey, it was a total show, this tells itey all. they laid out a a plan asking states that have run outth of money if they have money to lock peter to pay paul but they did not assess states if it was doable. they did not ask the states if it was doable. and that is a reflection of this entire plan. let's look at what the president said about the second piece payroll tax deferral, a lot of americans might've heard that and thought i'm an employee, i am working, and now the portion of my check that is withheld for payroll taxes like social security, i'm not going to have to pay that anymor

and claim, larry kudlow larry, it is always great to see you.irst of all, how are you feeling? things good because of this pandemic i know you are not a big guy, certainly not the kind of thing that suits you. >> well, you're right about that, jim yes, it's good to be back with you and david and the others jimmy, those marxist classes did not wear off on you. they did not you know, you are a wealth guy, you are an american patriot guy, when we worked together and you still are. look, on the big picture today i just want to note at the top very good unemployment claims numbers, initial claims numbers and, you know, we've been struggling through that because of the hot spots and they have been holding around a million. the continuing claims have dropped a lot but i wanted to see the initial claims so they dropped a lot, about, what is it, 228. so we are down a million i think for the last two weeks that's a good sign there's no question that the breakout of the hot spots in the south and the west probably slowed the recovery at least in those stat

the hardship and heartbreak that larry kudlow talked about are very much with us today. >> yeah.ion of not leading by example from what you saw from the cut shots in the crowd for sure, john. let me play what john was alluding to at the very top when he said total honesty, something else that melania trump said. >> total honesty is what we as citizens deserve from our president whether you like it or not, you always know what he's thinking. >> i mean, total -- i'm sorry to put it this way after i've thought of different ways to try to ask this question and i can't seem to ask it a different way. is she tries to gaslight america or do something else? >> i've been wondering that since she announced the campaign, right? the cyber bullying campaign when her husband is the most notorious cyber bully in the world. i think she operates on her own lane. we know, it has been reported by kate bennett that she didn't run the speech through the west wing. she wrote it herself with one or two other advisers. it is heartfelt, but i also think she's in this bubble. she doesn't see what american

update us on that and also be clear on what larry kudlow is saying here.d, the states no longer have to give a hundred bucks to meet unemployment benefit, is that right? >> there's a lot of confusion about what exactly the white house is pushing for in this executive action, but it shows the concerns that a lot of members of congress have that there is going to be confusion about what -- how this will be implemented and it could take some time to implement these enhanced unemployment benefits which is a reason why they want congress to weigh in on this issue. now we've been talking over last several days with a number of these house democratic freshmen, people who are in tough races and people who powered democrats back in the house majority in 2018 and many of whom were in districts that president trump carried in 2016 and a number of those democrats want negotiations to resume. they want both their party leadership and the white house to compromise more. we'll read quotes that they said to me and my colleague lauren fox. max rose from new york said i hea

i was noticing that larry kudlow, when he spoke to the pandemic spoke and said, it was awful. past tense. >> yeah, and he, and he spoke of the economy ask if we are in full recovery. >> right. >> we have 10.2% unemployment. there's a lot of suffering in the country. you know, this is pure donald trump as well. which is deny the reality and try and create a new reality. and the question is, that may work for had his supporters the question is, does it attract anybody new when people are living the pandemic and living through the economic crisis, so, it, does, you know, does the reality show match the reality? and if it doesn't, how do they resolve that? >> you heard a wide variety of spe speakers and we want to see how much they die verged from fact. daniel, what stood out to you? >> well, first lady melania trump said we deserve quote total honesty from our president, we don't get it from president frutrump and we didn' get it tonight. some from the family eastbound ins. eric trump said trump brokered peace in the middle east. war is raging and thousands of troops are in iraq,

joining me now is top white house economic adviser larry kudlow.hank you so much for joining me this morning. i want to start with the president's claim that unemployed americans will get $400 per week in unemployment assistance. but let's talk about what the executive action really says. americans only get money if, a, a governor asks for it, b, if the state kicks in $100 for each person each week. but many states, as you know, are really struggling to make ends meet. so let's be clear, no unemployed american is going to get an extra penny unless their governor asks for it and can afford it. is that right? >> well, look. don't forget, please, the state unemployment benefits continue. there's no effect on what they do. and you are correct. for an extra $100, we will pay three-quarters and the states will pay 25%. and i think the way this is going to work out, we have additional funds that we will repurpose for this. this is an essential item. we've tried to get it through the democratic house for, i don't know, two or three times. and it's going to

stuart: right on time, as promised, we are joined right now by larry kudlow, top economic adviser in orning to you. welcome back to the program. >> thank you, stu. appreciate it. stuart: i want to talk tiktok. the president wants to take a piece of the sale price of tiktok, whomsoever it might go to. he's going to try to take a piece of a private transaction. what do you make of that? >> well, look, i don't know, there's no specific blueprint here. the big thing is in 45 days, if ibm and tiktok have come up with the right plan which allows for all the necessary software, information, personal security, the president is inclined to go with it. that's the key point. stuart: it's an extraordinary precedent, larry. the president acting as almost a broker in a deal with the treasury taking its piece. we have never seen anything like that before. >> true enough, i guess. i can't remember. but look, i don't know if that's a key stipulation. it may be that the president was thinking because the treasury has had to do so much work on this, a lot of options here. i'm not sure it's a specific co

and then larry kudlow, speaking of the pandemic in the past tense, and making claims about the economy that are completely unfounded. >> yeah, look, i think the secretary's speech from jerusalem did break with norms. apparently michael beschloss, the historian, found a precedent 75 years ago. just last month the secretary himself sent out a cable in his name reminding state department employees that they were not to engage in partisan activities and it specifically said presidential appointees may not engage in presidential politics. they tried to argue that no state department employee had anything to do with this speech, they were not participating, they had other people handle the logistics and so forth. but it does break a tradition. i think that's sort of in keeping with what we've seen for four years, the president who came in, remember, who has never been in politics or the military before, and so he doesn't particularly care much if things have been done a different way. his whole attitude is the fact that it has been done a certain way means you should think about doing it the

shaped recovery that larry kudlow is promoting and do you agree with baba that we are on the way back i don't think that there's any any evidence clear evidence because i think we've plateaued on the entire record. front as it is. right now a political battle between the democrats and republicans trying to open the economy or not and right now because of that stagnated the entire stimulus package right now we are moving up at all but we're not moving down at all either so we have plateaued on the entire recovery front but the fact of the persistently high unemployment numbers that is going to be very very worrisome and troublesome for the entire recovery story and i want to move on to something else here ali just reported beating quarterly revenue and profit estimates thursday as traders continue to monitor the situation between the united states and china continues to remain a potential target if president makes further moves against chinese companies i was actually responding to this well i've just reported spectacular earnings as the company's stock is actually up about 23 percent

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conditions would remain weak joining us now from the white house national economic council director larry kudlowere for a first cnbc interview welcome back, larry, good to see you. >> thanks, sara, appreciate it. >> so you got your v but it's in the market but not in the economy. why do you think that is >> i don't know. if you rundown all these, housing sentiment, starts, permits, manufacturing production, auto sales, consumer spending in general, retail sal sales, i think it's a very strong economy coming back and the fed will do what the fed is going to do. they have done a good job up to now seems to me. they will probably stay on the easy side. look, it's hard to recover but i think the third quarter is going to be a very high number, 20%. atlanta fed talking 25%. that's their view, not mine. but still it's a great number. it's interesting i think and suspect as some private analysts are saying this is self-sustaining two reasons. number one, inventory basically collapsed in the second quarter and now here in the late spring and summer months we've seen a huge pick up in car did heened make

witness back in may prior to the release of these latest figures white house economic adviser larry kudlow told reporters wednesday the country's economy is rebounding quote very very strongly adding that it's on a self-sustaining recovery and it's a v. shaped recovery also promised a new round of aid will be provided to unemployed americans in the coming weeks the u.s. did add 1300000 jobs in the 2nd quarter of the year but not enough to recoup the 22000000 jobs lost in march and april alone now for more on the state of the u.s. economy and what's moving markets let's bring in boom bust co-host christine and todd horowitz chief strategist at bubba trading thank you both for being here i want to start here with you now these jobless claims are notably worse than expected and now it's been about 4 weeks without that $600.00 a week care act benefit for these tens of millions of unemployed americans what is going to happen here and what are the contagion effect of these persistently high unemployment numbers on the economy. could have been brought back to listen let's face it the numbers are

larry kudlow with his address. >> our economic choice is very clear.o you want economic health, prosperity and opportunity and optimism or do you want to turn back to the dark days of stagnation and posseesemisim i say stay with him. >> joining me now is senior political economist, stephanie kelly. eamon javers still with us some strong words from larry kudlow he's out there telling people the trump administration is handling things well what do you see as the biggest difference of a trump continued administration opposed to a joe biden one? >> i think with his comments being economic minded and seem to be more business friendly, the reality is we are in the middle of an incredible global recession. the u.s. is not immune to that we have 30 million voters out of jobs i think that is the difference maker. can the republicans win the argument that the trump administration has done as well as he could or will he end up getting blamed particularly with his key voters that are also going on those unemployment benefits >> if you look at both tickets, there h

just start with what just happened in my interview with the president's chief economic adviser larry kudlow. he said that the white house didn't know how many states would contribute to the president's plan to supplement unemployment insurance or how long it would take for those payments to kick in. what's your response? >> well, first, good morning, dana. it's nice to be with you on a sunday morning. let us all be prayerful that we can meet the needs of the american people, especially as we all watch the angst that is associated with sending children back to school. what the president's adviser said really shows weakness and meagerness in what the president proposed. first of all he is saying states have the money. no, they don't. they have expenses from the coronavirus. they have lost revenue. because that far they are firing health care workers, first responders, teachers and the rest. sanitation, transportation because they don't have the money. second of all, everything is left out. our assistance to the schools, feeding the hungry, helping people who are going to be evicted. the presi

here's what larry kudlow had to say. >> better than 20% growth in the second half of this year.do you want economic health, prosperity, opportunity and optimism? or do you want to turn back to the dark days of stagnation, recession and pessimism? jillian: your reaction before we go? >> larry kudlow is talking about the theme of the rnc convention which is opportunity, we are not talking about economy of inequality, not talking about grievance, we are talking opportunity and hope, job creation. that is what the president is trying to push, a contrast with the dnc convention. thus far he has done it but has a couple days to go and see what message he ends with. todd: we love talking money with you, thanks for your time. jillian: the first lady delivers a powerful speech from the rose garden. >> you have a president who will not stop fighting for you and your family. it cannot be done. he works harder. todd: did milania trump seal the deal? women for trump react next. guys, are you tired of frequent nighttime bathroom trips? well, force factor prostate helps reduce urges to urinate

larry kudlow joins us in a moment, do we need more stimulus, larry 3 minutes away from all the answers. here is the backdrop for interview, new claims for unemployment 1.106 million, this is a key indicator for getting back to work. that's not a good number because the number of claims has gone up from last week. the federal reserve says the virus is hurting america's growth rate and job creation, now if you put the fed statement and higher jobless claims together, that's what's pushing stock prices down this morning. look at it. the dow is off about 100, s&p 60, nasdaq about 31, more on that in a second. all right, did you watch night 3 of the democrats convention? it was hate trump night. speaker after speaker layed into the president in personal terms. he gets the blame for everything. seems to me like the democrats have not gotten over their loss 4 years ago. the president was live tweeting all the way through. we will show you both sides of this, of course, but seems to me like all of the democrats have is hate trump. varney & company is about to begin. ♪ ♪ stuart: look at the red

here's how larry kudlow tried to explain some of the actions. >> i think it's going to come about $1200 per person. that's a huge -- >> you keep saying $1200 per person, are you talking about in addition to the unemployment they're already getting? >> no, that's the payroll -- i beg your pardon. the $1200 will come from the payroll tax. it should be $800 for the unemployment. >> $800 or $400? >> no, it should be $800. if the states step up, we're prepared to mark, $400 federal, $400 states. >> with me now is kristin holmes. if you can explain exactly what is in the executive actions. it certainly looks like you have to read the fine print here. >> reporter: you certainly do. let's start with the unemployment benefit. the way that larry kudlow was explaining is is not the way that experts and lawyers have been explaining it to us after last night. we know americans were getting $600 a week from the federal government innish to whatever they were getting from the states, and this was for unemployment. president trump is now saying you'll gelt $h you'll get $400. it's not that simple. some

comments on the 6.95 amid -- under larry kudlow's comments on the trade deal. goldman saying the stimulus right outside risk to real rates which will support billion. -- bullion. gold miners in sydney, with new crest set to report results. an australian bank coming through with its third-quarter numbers, unaudited third-quarter cash earnings coming in at 1.5 billion australian dollars. ozzie futures a little changed after the benchmark saw the most in two weeks. the asxup the terminal, 200 facing mounting technical resistance. the average coincides with a fibonacci retracement that the index has bumped up against three times in two months. the kospi rally running hot after a five-month gain over the march low. 82, andsi has topped volatility could add higher should korean regulators decide to lift the shortselling band after thursday's meeting today's august options expiring. that could be a trigger for choppy trade for south korean cheers. soph. the right, pandemic slowdown has prompted investors to take some precautions. david rainey is here with his views. y

earlier today larry kudlow said that president trump will likely sign off on some executive order suspending payroll tax collection. kudlow said that legal drafting is complete. it sounds like it's really only a matter of time before president trump acts on this unilaterally but still a day or two away. president trump can only do so much when you are talking about trillion dollars that both sides say are needed to help this economy in the middle of this devastating pandemic. >> neil: thank you very much. here's what might have given republicans a little backbone. a strong employment report for the month of july. susan lee on the report that may have them doing a little bit of posturing. >> a third straight month in july was good enough to show on-going recovery. 1.8 million new jobs. more than anticipated. job less rate down to 10.2%. all of the jobs in restaurants and bars. government employment rising most in education. retail trade in health services made up all of the jobs. manufacturing disappointing. only a 10th of the new jobs. long-term unemployment 15 to 26 weeks went up in the mon

>> reporter: i want to it is to that in a second, but we really need to point out that larry kudlow's interpretation of this is different from many experts and lawyers we have spoken to about what exactly this will look like. we have spoken to experts who say it's most likely that many people will not receive that $400. those governors have to enter into an agreement with the white house in order to anyone in the state to get that money. actually, this has to be an entire process has to happen here in order for them to even get the $300. the states have to enter into the agreement to pay the star $100, but they also have to agree to administer the extra money. all that we saw happen the last several months when people were getting this unxwoimt money from the state, from the federal government, that money was going through a system that the state put together. >> now the federal government is asking they to create an entirely any system for that $300 that they have to put in place, and then figure out how to administration, and on top of that, they have to contribute their own money.

i watched your interview with larry kudlow this morning. as a policy practice, you never want to incentivize people to sit on the couch. that is a bad idea. they are trying to come up with the right blend of policies. do you think the u.s. can generate a recovery that will lead to higher rates? yields aregher probably not in the cards for a while. the funds rate will be at zero four years. when they do raise the funds rate, the driver of longer-term rates, i don't think they get much above 1% probably for the next decade. can a go from 50 basis points to 1% over the next few years? absolutely. at those levels, it brings back buyers again. we are not that worried about the downside risk in the bond market. the appetite for risk assets is where real yield is now, and where rate volatility is. we can getat something to turn that around anytime soon, i don't know. to work out whether this market can break down, i think we have to work out whether the things that support it can turn around. do you anticipate higher real yield, rate vol? michael:

larry, thank you so much for joining us. mr. kudlow: thank you for having me, ben. prof. peterson: i will also have a separate -- ben: i will also have a separate conversation with pat mchenry. you can follow along with the h tag #rncpolitico. i want to ask you about what president trump said in 2016 and even before that when he was running for president. he called the stock market a big fat bubble blown up by the fed that was set to explode. i wonder why it is not the same thing now, given the fed is pumping huge amounts of money into the economy. why is the stock market not a big factor like you said it was in 2016? mr. kudlow: it is a completely different situation today than it was in 2016, dealing with the pandemic. and the resulting economic contraction permitted getting the pandemic. pre-mitigating the pandemic. i don't know what he meant in 2016. i'm not sure i would agree with that. in our economic task force during the campaign, it never really gave up, so i'm not sure i could give you much help on that one. , iterms of today's market think the market is, number

and his economic adviser, larry kudlow in the mix as well, barely touching the economic downturn thatas brought on by the coronavirus because of this president's mishandling of the coronavirus. right? and then the fir lai -- then th first lady was there, she was the only one to acknowledge the pandemic, one that has cost the country more than 178,000 lives. so, you have the president who acts way he acts every single day, tweets, retweets. racist things. controversial things. and then says well, i was just retweeting it. it's not what i have to say. and does all kinds of unnecessary things and unbelievably -- and does things that are beneath the dignity of, certainly beneath the dignity of the oval office and then you have the person we have tonight. do the two match up in your eyes? >> no. look. a little bit of that is politics. right? that's what conventions are. >> a lot of it is. >> they are trying put it up there as here's the ideal, it's harder for an incumbent bought they have a record. but if you are trying to get the base to feel good and give them permission to vote for you

you heard from larry kudlow who said that the legal drafting is complete on at least some of the possiblexecutive orders. shannon, the president could sign them very soon. >> shannon: we will be standing by watching. kristin fisher at the white house. thank you. president trump broadly prohibiting unspecified transactions with the chinese owners of tiktok and we chat. the executive order in 45 days. the president threatened a deadline of september 15 to close down tiktok unless microsoft or another company buys it. and tonight's democracy 2020 report, joe biden on damage control. the presumptive democratic presidential nominee is trying to recover from a comet critics say is derogatory to african-americans. peter doocy has the latest from wilmington, delaware. >> joe biden's motorcade showed up at an event in wilmington today. party leaders tried to figure out where he should accept the nomination as the campaign tries to clean up a comment about african-americans. he said "i want to clarify. in no way did i mean to suggest the african-american community is a monolith, not by identity, no

i want you to hear an exchange with dana bash and larry kudlow of the weekend. >> and i think it's goinge to about $1200 per person. that's a huge wage increase. >> you keep saying $1200 per person. are you talking about in addition to the unemployment they are getting? where does the amount can coome? >> i beg your pardon, it should be $800. from the unemployment. >> 800 or 400? >> no, it should be 4 -- it should be $800. if the states step up, we are prepared to match that should be come out $400 federal, $400 states. >> and look, just hearing larry kudlow there, again, confusion about where the money is coming from. $1200 check is the stimulus check that millions americans will be eligible to receive is. that is different from the enhanced unemployment benefit that is important right now and rosemary, you have an unemployment rates looking slightly better. better than people expected that came through on friday. but still much higher than what we saw during the peak of the global financial crisis. all these issues, paying a really strong role in how the stimulus talks will go. going f

you just played the clip by larry kudlow that pre-pandemic, we were doing very well.cted thing hit us and everybody spoke about it in the past tense but he is making the case that we are on track to come back better. and enough course -- and then of course, this law message. the republicans are banking on the fact that while people are sympathetic to the issues going on with policing, that they are getting tired of the violence in the cities and they are hoping to use that to turn some of these swing states. and then of course, the first lady who we do not hear from a speech inan important which she was the first to talk about what the pandemic has done to people and how devastating it has been. david: people are very anxious about the pandemic and what comes next asked kids -- as kids go to school. has the trump campaign effectively moved off of whether he did a good enough job in handling the pandemic? >> i think it is very tough for him to do. people are not happy with how this has gone. i do think it is important for them to address it but i think they are sort of