peter morici: he stood by while china built the islands in the south china sea and militarized them. he has tried to make china back down on currency and trade issues, but when the chinese stand firm, he's flinched. sharyl: what is it you advise president trump to do? peter morici: bite the bullet and put up with the criticism and perils and put china back in its box. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] ♪ sharyl: welcome to "full measure." i'm sharyl attkisson. the new republican-led congress was sworn in this week and one priority was clear -- doing away with obamacare. the promise of the law was affordable health insurance for all. but for too many, the hard unaffordable premiums, and huge out of pocket costs. we've covered the pitfalls since our beginning here on "full measure" and, today, we begin by reviewing what went wrong and the prospects after obamacare. it was a popular election rally cry and will be one of president trump's top priorities. donald trump: we're going to repe

peter morici. we hope you have a happy retirement.er morici, university of maryland print the president will be meeting with congressional democrats on wednesday to focus on one of his legacy items, the affordable care act. on new congress is sworn in tuesday. ben gorman will be joining us. will be talking foreign policy, syria, vladimir putin, russia and china, all ahead on "washington journal." we are back in a moment. stay with us. ♪ announcer: in depth will feature a live discussion with the presidency of barack obama. we are taking your calls and tweets. our panel includes april ryan, a washington correspondent and author of "the presidency in black and white." ,rison university professor author of "democracy in black: how race in slaves the american soul." and david, author of president obama: the story." watching today on book tv on c-span 2. >> monday night on the communicators, carnegie mellon co-author professor, of the book "streaming, sharing, stealing" discusses the impact of data on the book, movie and music industries.

. >> in terms of regulatory reform, something peter morici told you earlier this week. watch out for -- you have need leadership coming out of the white house on rolling back these regulations. if you let these departments get away from you in terms of what they are doing in terms of rolling back these regulations, nothing will get done. so you have to be on top of that. there is a businessman,al real estate mogul in the white house. gary: 100% of the move since the election is emotion, there hasn't been anything fundamentally at rob sechan was talking about. while tax reform is important. as far as the stock marker is concerned. it has priced in now. especially when it comes to financial service. if that doesn't happen and that's not a top priority the market will soften. david: markets don't see everything. they didn't see the 2008-2009 collapse coming. they didn't see the spectacular growth. right now we may be on the cusp of some tremendous technological revolution that none much us even know about. it could be virtual reality. it could be a lot of different things.

next, economist peter morici is here to respond.president-elect continuing to bring business to the u.s. by his jawboning. ceo of novartis telling reuters that donald trump's proposed corporate tax cuts could prompt the pharmaceutical company to increase invests in u.s. but mainstream media not willing to give mr. trump any credit. abc news says the president-elect has not had an impact on job creation. take a listen. >> if you had to rate the president-elect's impact on job creation or job preservation over the course of this two-month transition, how would you rate it? >> according to the companies we hear from it is very small or nonexistent. there is a fantasy football aura to all this because donald trump is saying things on the internet and then when companies do things he will selectively respond to it. david: that is supposedly an nbc fact check. donald trump firing back in series of tweets, writing, totally biased, nbc news went out of its way to say the big announcement from ford, gm, lockheed and others that jobs coming b

and ashley webster, liz macdonald, jeff sica and peter morici. 're starting down lower, 70 points down. i want to know how much is a result of the president's executive orders over the weekend? start with peter, is this an impact? >> i was interviewed on this over the week, i say no. we will have fluctuations, but this executive order is a nonfactor in the mark, especially given its duration. stuart: now to the factor which may have well have a bigger impact, that's this talk, anonymous talk on the internet, about a delay until the year 2018 for the tax cutting package. please, this is just talk from anonymous sources. jeff sica, you're the guy that brought it to our attention this morning and you're saying that's a factor in the market decline? >> yes, investors have to be aware, this is a fragile topic, even rumors on the internet will set investors off because keep in mind small businesses off the radar for the last eight years are desperately relying on tax cuts and if they do happen to move them to 2008, which the rumor is, there are congress

joining me now, brian brenberg and peter morici. pay a premium for german products in part because of that marvelous german engineering. is there something else we should be doing to level the playing field? >> well, absolutely. what the german vice chancellor did not tell you is the provinces where these car makers are located require cars to be produced in germany. volkswagen requires it because of a combination of the province's members on the board and the labor members on board compel that. it's a very protectionist regime. you know, we make high quality, affordable cars. germany tends to make upper end cars. but, i mean, make better cars? i mean, for god sakes, i'll take a ford fusion over a volkswagen jetta any day of the week. it's garbage. [laughter] this is a trump era, so we use words like that. [laughter] charles: these are your new economic terms. brian? >> it's not as good a car. charles: i got ya, buddy. brian, i think, you know, a lot of foreign automakers now make cars in this country. >> they do. charles: i think t

melissa: peter morici, universi of maryland professor of economics.n a lot of ways, it is easy to see how mexico could pay for the wall, it is semantics. with so much money flowing back and forth. you say money flowing in will pay for the wall but there are real tax ways to do it. one is border adjustment tax, as goods come in, you put a new tax on those. what do you think of that idea? >> well, i don't like it because it hits all of trade. it really penalizes consumers. put import tax and tariff which we talked about, making american consumes pay for it. melissa: have to lower prices in mexico to have market parity. likelihood of that balance -- >> some of each. melissa: some of each. having idea of a border crossing tax. they come in and pay a tax and would have a trust fund because those worked so well in the past where money goes directly for the wall. the problem with that that is not necessarily mexico paying. that is whoever crossing the border, americans or whoever. >> exactly. like border tax adjustment. instead of taxing goods in both direct

peter morici. we'll see you begin real soon, peter thank you very much. >> take care.bizarre moment during a c-span much their coverage of the confirmation hearings. watch this. >> take our cop on the block, the sec, analyst rally obliterate -- ♪ stuart: that's rt television backed by kremlin. ashley: woke you up, didn't it? maxine waters giving a speech on sec regulation. then poof, we're into russia today for about ten minutes. conspiracy theorists believe because maxine waters was repeatedly talking about donald trump and russia, there was some skulduggery afoot, to quote sherlock holmes but c-span says routing problem as they say in this country and they say it was not hacked as some had suspected. russia today playing some games with c-span. but it made it kind of entertaining. stuart: conspiracy they'res will have field day. ashley: absolutely. stuart: i have breaking news from trump tower. liz, more meetings? liz: yeah. richard trumka at 11:00 a.m., afl-cio head, and also lockheed martin ceo marilyn houston at noon. stuart: she has gone back? liz: gone back, int

i'm joined by the economist peter morici who has more whether or not this is all going to work. , one of the things i think is interesting about him is that he's basically setting a tone here in a way we haven't really seen, i don't know, if we've ever seen anything like this where he's saying basically the message to corporate america, guess what, you got to put the united states of america first if you want to have a good relationship with me and with everyone else in the united states. is this a tactic that will result in more jobs? >> well, it will result in some more jobs. we have to do something about what goes on in germany, for example, not just the 10% tariff, in lower saxony where volkswagen is located, the labor union has half of the board seats, and the government of lower saxony which holds shares in volkswagen has two more. so whenever volkswagen makes a decision about investments, for example, where to put new electric car production, it needs to get the votes of the labor union and the government who vote together on board. trish: what you're saying is very intere

let's bring in peter morici, professor of economics. that's it, isn't it?y this market is up, because we expect, we demand tax cuts fairly soon. [laughter] that's why it's up, isn't it? [laughter] >> well, that's got a lot to do with it. it's also how we're going to cut the taxes. i mean, you can't just willy-nilly cut 'em and explode the decit. he want toss apply them to imports. well, with a $500 billion trade deficit, that's a net gape of, you know, about $75 billion, $100 billion depending on what rate you set. and that's a lot of money. that can be used to lower rates overall. so i think that's a good thing. the question is whether it'll hold up in the wto, because you can rest assured the lawyers over in europe are scribbling away right now, how do w maintain our advantage on the americans? we can rebate the value-added tax, they can't theirs, how do we maintain our advantage? stuart: but the real tax cuts which has excited everybody in america and the market is personal income tax cuts. that's what's getting everybody excited, isn't it? >> yeah, and

. >>> joining me for more analysis, peter morici and former adviser to bill clinton simon rosenberg. good to see both of you guys. simon, this isn't enough for you. tell us why. >> well, many of the ethics lawyers that looked at this, it's unprecedented, never been through anything like this before, and what the line that everybody drew on this is about divestiture, about him not moving away from control of the company but actually releasing control over the assets themselves, and so he wouldn't personally benefit from the decisions that were made or things he did while in the white house. this is not going to pass muster for people studying this closely. trish: simon, does it pass muster for you? >> no, i'm one of those people. trish: what is it doing? he's building a multibillion dollar empire, are you suggesting he sell it in a fire sale right now? >> yes, do a public audit he releases about what his holdings are, it's a secret business empire. he could have hundreds of billions of dollars of deals with the russians. trish: so you want him to sell off everything he owns. >> and to

i want to bring in peter morici, checks professor of the university of maryland. elites in davos and putting themselves in opposition to america first, trump. it is globalizes getting together there in opposition to america first trump. is that the way it is stacking up here? >> actually i think that is a very good analysis. i picked up on that this morning that he was taking that position. we're going to be pressuring germany on some of its policies with regard to automobil. we're pressuring china with regard to, its policies on investment and currency and so forth. and an unholy alliance could emerge of some of our major trading partners, who are very powerful within their own regions to oppose the flights and may get difficult to affect the kind of changes we need. you are fortunately the trump -- unfortunately trump team doesn't seem sensitive to the wto, international system and so forth, the potential allies. stuart: i found it extraordinary that the leader of china's communist party rallying western business executives against capitalist america. i found th

trump had a meeting with automakers this morning and peter morici is with us this morning. r tack, or border adjustment tax, if we get either of those two things, don't we get higher prices in america, don't we? the. >> we need to separate the two. if we get border tax adjustments, part of generalized tax reform. that is very important. if we have a 20% border tax, only affects retail prices by 10% because after all paying on wholesale, not retail. on top of that businesses will have better environment for manufacturing in the united states. so investment will come back. that will drive down prices. lower taxes will drive down prices. so i don't think we'll see long term the big bump that people are worried about. stuart: that is nice theory, peter, but the immediate impact of any kind of tax at the border is higher prices. i agree with you, look undo the road, maybe they're controllable, but the initial point prices do go up and i suspect consumers will not be happy with that. >> i don't know how much they will go though. they will not go up by 20%, i can guarranty you that

let's bring in a tenured professor of economics, peter mau morici.f the themes on this show is the bricks and mortar ice age, you don't believe this? you're shaking your head. >> please go on. stuart: it seems to us that the suburbs are going to look different. a lot of shopping malls in real trouble here. >> the suburbs are starting to encounter the kinds of difficulties that inner cities and downtown encountered in the '70s and '80s. the basic technology of buying products or the basic retailing is changing. instead of going to a big campus where there are stores clustered together, parking free and easily. people are doing one better, staying at home and using their computers and it's having a negative effect on employment. one of the reasons that amazon does so well, it takes fewer people and less time to fill orders over the internet than it does even with customer service calls than it does through a mall. stuart: do you see any end to this trend in sight? >> well, yes, i mean, no trend is complete. i mean, we still have downtown shopping cente

a 10% tax on that would probably generate 1.5, $2 billion a year. >> peter morici, a lot of ideas. h thing. >> well, now he's here with a message for his celebrity friends. that's next. there he is. >> come on in. >> come on in. and they're absolutely right. they say that it's hot... when really, it's scorching. and while some may say the desert is desolate... we prefer secluded. what is the desert? it's absolutely what you need right now. absolutely scottsdale. . >> do you think we're pushing our luck? >> no such thing. >> we've all seen him in so many hit movies and tv shows, but he's not your typical hollywood type. >> now he has a message for his fellow celebrities melting down over president trump. >> and actor joins us now. good to have you here. what's your message? >> i didn't have any message. everybody says, hey, look, everybody has a right to protest. but let's just make movies and everybody get along. >> you've been in this business for a long time. have you ever seen celebrities speak out quite like this in politics? and you said it's really been more behind closed door