mike, thanks as always still to come former treasury secretary larry summers tells us what's at stake the economy if president trump continues on this trade war path. woman: my reputation was trashed online, i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you're under attack, i recommend calling reputation defender. and consider joining their groundbreaking campaign to give every american the right to remove old, inaccurate search results by going to righttobeforgotten.org. vo: if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705. listen to your mom, knuckleheads. hand em over. hand what over? video games, whatever you got. let's go. you can watch videos of people playing video games in the morning. is that everything? i can see who's online. i'm gonna sweep the sofa fort. well, look what i found. take control of your wifi with xfinity xfi. let's roll! now that's simple, easy, awesome. xfinity xfi gives you the speed, coverage and control you

i'm friendly with larry summers and i know very well the argument that he made. his argument was about 2% to 2.5% long term and he used that for we ought to have more stimulus. and donald trump passed a 2 trillion-dollar unpaid for tax cut which will provide temporary stimulus of exactly the form. >> martha: that's a totally different kind of stimulus than putting money into the market, into the federal side of the market. when you provide a stimulus by lowering taxes, those are two very different economic policies. right? >> they are different. the only thing i would caution you is before you aattribute 3.2% which we got to the last quarter as the new permanent growth rate just look at the last quarter. >> martha: i didn't say it was a new permanent growth rate: it? >> was in the low 2s. that's what the argument about the new normal was. it wasn't about the short run. it was about the long run. >> martha: okay. understood. it was about the long run, wasn't it? because it was saying. >> your argument is about the long run. 3.2% long run. >> martha: you are saying

' office wearing suits that scene larry summers said was exactly right -- >> andrew wants to wear a coatn college. >> i'm happy to wear a suit. i want to know how you got a meeting with them after writing the first book. >> here's what i love about winklevie, and right now i'm the third one, so i can say this they watched "the social network" and they came to the premiere and even though they were played as the big jocks who were chasing mark zuckerberg around, they also saw in it stuff they liked because they have a 1950s right-and-wrong men of harvard thing going on they really believe in right and wrong, and that's really what spurred them all the way through that movie and so, even though they were characterized that way, they were willing to talk to me and sit down with me and once i got to know them again, i think we got along really well. >> was it awkward? >> i'm terrified of guys like that, because in high school, i was hiding in a locker from guys like that. i mean, they scare me! but after we got to sit down for a while, it wasn't that awkward anymore. >> you're the third -- >

so larry summers, the former president of harvard came to a think tank about two months ago, and he saidhe transformation of china probably will go down in history as larger than the industrial revolution. so i think that since china joined the wto, china's gdp has jumped up ten times because china embraced the liberal international order. and also, china is the largest trading nation of over 100 countries benefiting from chinese economic activity. contribute over 35 of the gdp growth of the world. so it's become an engine of the world economy. so china has become now the second-largest economy in the world. china every year has 100 and 50 billion tourists traveling around the world, spending $200 billion for the local economy. china has sent [inaudible] second, china is a great contributor to liberal international order. the second-largest donation to the united nations and also the second-largest peacekeeping country among permanent council members. also china has actually committed to the paris accord agreement. the u.s. has backed off, china did not avoid its responsibilities and its

it was early 2017, larry summers, the top economic adviser for the obama administration, said we wouldever get to 3% growth talked about you have to believe in the tooth fairy for that. no, you had to believe in president trump's agenda for this economy if you cut taxes, get that business corporate rate down to a competitive level globally like we did, if you cut federal regulations, if you unleash american energy and fight for the kind of trade deals that we have been able to negotiate, south korea, being negotiated as we speak with china, the usmca with canada and mexico, all of that is coming together to create the dynamic economy and we're just getting started >> what is the president looking for the fed board? political loyalty to him personally, a commitment to low interest rates, a commitment to shake things up there? what does he want? >> i think the president is looking for -- i think he's looking for men and women to be appointed to the board of the federal reserve who are as fiercely committed to the free market as he is. the belief that this economy can expand at a rate we

. >> i believe in the 3%, larry 3% i don't think that it will be -- >> larry summers >> oh, god, no he know steve says anything over 2% is a big bonus. we have to quit thinking that way. we have to get people to realize -- >> we have 35 seconds, but tell me where you get it. because the math is very simple. >> how did we get this quarter >> you really want to know i'll tell you. you asked. 1% from the change in exports. that is people bringing stuff in ahead of time. and i'll tell you what inventories added, 0.6 so 1.5% of your 3% was from trade and inventories. you tell me where we'll get it from productivity or hours worked >> hold on to those numbers. because you will find something to pull out to make it less. >> i will not. i will not i promise you i won't. if there is a real change in underlying gdp, i will get on the rooftops and i'll scream it. >> time for squawk on the str t street ♪ i got to have faith, because got to have faith, faith, faith, i got to have faith ♪ >>> good thursday morning. welcome to squa"squawk on the stree street". futures are indicating some stability af

summer job every year. i got lucky. made me feel so good to take that money and buy my school clothes, go back. it was an achievement. i think it's tougher now, larrykids are -- they have the distractions. a lot of them think they should be making more money that will be offered for from the summer jobs. it's a tough situation. >> it is a tough situation. the nice thing is that you learn what you have -- once you have the job, you earn some respect. one of the opportunities here is for kids to learn what it takes to get a job and then what it takes to keep that job, what it takes to keep your boss happy, how to serve customers. all of those things make you a better human being. and i think that is the real value here. plus, the feeling that you have internally. for your self-esteem, that you won't be judged based on how many likes you get on your social media pages but you'll be judged based on how hard you work and rewarded for that work and the freedom that comes from spending that money you earned. >> charles: i know you're a strict personal finance game. are you going to give these teenagers the green light to spend all of their money this summ

larry. maurice was -- became a part of the hockey team, the avalanche hockey team back in the summer of lastpoint, we did not know he had been -- he was not diagnosed at that point, so on july 28th, of 2018, on his birthday, he was diagnosed so it was our due diligence to tell the coach and the school what was going on, and from then, our relationship began >> larry, so you coached this young man? >> yeah, i selected him as an up and coming defenseman for our 15u hockey team. he was a promising athlete and better person and his family and he heard this tremendous setback in the middle of the year. given my longstanding affiliation with the sohn conference, that was my first call it should be a situation where all children, no matter if they happen to have a coach who speaks at the sohn conference or not, where all children have access to the latest medicines, the latest innovations and the best doctors and the sohn foundation having invested almost $90 million in cutting edge research and cutting edge institutions, they obviously were able to open doors so that maurice could have access to t

summer being a time when we should watch for defaults as congress raises the debt ceiling. the president and xi jinping will meet at the end of june. shift of focus. joining us is larry. correctly given the inventory data we saw today? me, no.o the consents is that people want that higher and expect there scratching their head. the new slow we hear every night is that they think wti should be much higher. i think it should be lower, and eventually gets there, but we have missed, again with api, they are expecting a drop of almost 2 million barrels. i'm expecting flat. that will be about 32 million barrels, year to date, of additional inventory. vonnie: there are so many surprises, week after week. when it comes to this data, much more so than i ever remember. why is that? larry: i think that's why the market -- how the market works. if you look at the lower 48, it has gone down two weeks in a row, but production is really good. 1.2 5mply growth of about million barrels per day. not as great as last year, but it is defying expectations. that said, people are being caught the wrong way in this. vonnie: how much does opec plus factor intosions your forecasting of oil pri

larry hall was responsible. not only did hall live 25 minutes from indiana wesleyan, he had been identified chasing two co-eds there a week after tricia went missing. so in the summerf 1995, a month after convicting hall for jessie roach's murder, beaumont was leading a search for tricia. it was in those same indiana backwoods where hall had told indiana authorities he dreamt he killed and buried tricia. >> i wanted to feel like i did everything i could to see if we could find her body. >> but after two days searching in sweltering heat and humidity, tricia's body didn't turn up. >> we couldn't find anything. doesn't mean it wasn't there. >> then beaumont decided to try something completely different. >> i came up with the idea of putting somebody in the prison cell with him to see if we could get him to tell us what he did with tricia reitler. >> they didn't think you were crazy? >> most people did think we were crazy. i was able to convince them we should do it anyway. >> enter jimmy keene, the drug dealer beaumont had just convicted and sent to a low security prison. why did he stick out in your mind? >> i knew he was kind of a con man, he was smart. i knew if a

larry hoganis praising a plano toost the blue crab industry. there will be visas issued for a temporary worker program. it'smportant for the industry and for sweet corn processors. the taste of summerke blue crabs arein enjoya population boom. there are more crabs now than we've seen in seven years. that is great news. there's nothing like crn on the cobb and crabs. uh! >> there you go. >>> 5:48. new, there's a warning for parents, amazon is being aused of spying on kids through its echo dot kids devices. cory smith is at the live desk with more. g.>> reporter: good morn yeah, so the allegations here are that amazon's echo dot kids is listening in when it shouldn't and keeping recordings even afr parents delete them. this is what it looks like. it can play music, answer quesons, ply games, even tell jokes -- play games, even tell jokes. we've been combing through the campaign psted by the organization for commercial-free childhood. because it can get any data from a child it's not acting in the guidelines of the children's privacy act. a spokesperson for amazon says the company is compliant with federal privacy laws and that its private plicies are disclosed on the company's websit

summer off, what's up with that? leland: all right. news continues from new york. don't forget tomorrow "fox news sunday," larry kudlow on.: thanks for watching, thanks for joaning us, everybody. leland: happy mother's day. ♪ ♪ eric: well, a top house democratic upping the ante for his demands for president trump's tax returns, now issuing subpoenas for six years of documents and giving a deadline of may 17th to get them. but, you know, administration officials are pushing back, saying that request is out of bounds as washington on this saturday braces for yet another showdown. hello, everyone, i'm eric shawn. >> and i'm alicia acuna. richard neal sending subpoenas to the heads of the irs and treasury department within the last 24 hours after a

larry, your base case is that u.s. and china and u.s. and mexico will both be coming to trade deals by the end of the summer. >> i do. >> that sounds optimisticimistic that will happen i think there's three reasons. number one, i think the market could force them to come up with a deal i think the economic repercussions that you could see both in china and the u.s. could force a deal and then i think the political aspirations of particularly president trump will make him come to a deal especially when you look at this mexico particular situation and some of the states that by the way could be the deciding factor in the next election cycle i think in the end cooler heads will prevail we'll get a deal, as barry mentioned. and i think that ultimately serves as a catalyst to send the equity markets higher. >> mike, on the topic of yields, fund strat pointing out that 21% of global bonds now in negative yield territory. the highest percentage since 2016 on the surface that sounds very bearish. but 2016 it's not like we ended up seeing a global recession so how are we meant to read this >> we did not. although much of the year we were afraid of exa

summer driving season will be great. consumer 2/3 of u.s. economy. this will ultimately prolong the recovery but create volatility in the near term. connell: i don't want to tell larry this but jack is shaking his head. >> we can agree to disagree. >> real incomes are hit. u.s. treasury market will slow down. it will eventually help u.s. housing that could be way off. if u.s. equities come under pressure there will be wealth destruction. connell: as i said to blake, this one in particular came as a surprise to a lot of people. we'll see how everybody adjusts over next few days, few weeks, few months, whatever it is. have a great weekend. what mexico can do to get out of tariffs. they have data out, january of 2018, and august of 2018, mexico deported more central americans than the u.s. you can see that as their comeback, hey, we're already working on this. border patrol council vice president art del cato joins us. can they do more? what does the president want mexico to do specifically in order for the tariffs never to be put on or too to be taken off. what do you think? >> i think definitely need to take it more serious. they know that these individuals are cross

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