here with more, steve forbes, forbes media chairman. irst start about this, off the record gate if you will, happened earlier today, the fact that bloomberg had an interview with the president yesterday. part of that was off the record. somehow the off the record comments got printed in canadian paper, the star today. bloomberg says they didn't leak it. do you believe bloomberg? >> who knows. somebody at bloomberg may have done it and other bloomberg people didn't know. somehow with this president every time he has something that media would consider juicy, going back to when he was president elect, conversations with australia and mexico, all of those things ended up in the media. so if there is something juicy there, whether on the record, off the record, it will be on the record in record time. always happens with this president. david: we just heard the president talking about this. and suggesting that he didn't mind. he minded that what he said off the record ended up on the record, but, what he said, he verified essentially. i'm ju

david: joining me is steve forbes, forbes media chairman. two things i love about this, first of all the economic boom is real. we all benefit from that one way or the other. >> right. david: secondly is makes fools of those people that never said it would happen. i love it when the so-called experts are so dead wrong. >> most of those experts who are wrong oppose this man anyway. so it is not a surprise they thought the world was going to come to an end. they will continue to predy, just wait, it will all blow up. david: even before president trump was elected, back in the waning days of obama era, folks you have to get used to slow growth. >> they called that the new normal, which was really the new abnormal. now we're getting back to the real normal, which is this economy has the capacity to grow at very vigorous pace. we've seen it time and again in past. david: art laffer spoke about this point. he was talking on fox news, talking about the potential for growth, the harnessed potential. now the harnesses are being taken off. let's play

ashley: steve forbes. >> great man.ou so much. >> thank you. >> kristina, back to you. >> on your mark, get set, sold. some. most expensive, beautiful collectibles classic cars in the world being auctioned off in pebble beach, california. our own adam shapiro is there taking it all in. so stay right here for more. ♪ thank you clients? well jd power did just rank them highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. kristina: all-star lineup, not talking about myself and ashley. some of the most expensive cars in the world are up for auction at the annual concord in pebble beach, california. adam shapiro i want our viewers to know is the

steve forbes is here.of socialized medicine and a great university just did that this week a great study done on the medicare for all on socialized medicine finding out it would cost $32.6 billion in 10 years. that is entire budget, george mason university. you would have to eliminate everything else from what the government does from defense to social security, if you just wanted socialized medicine. >> even worse the quality of care goes down. innovation goes down. europe was a font of new medicines. went whole hog in socialized medicine, '60s, '70s, '80s, we're the great font of new medicines and medical devices f you get government control, that goes out of the window. we'll not get better health in the future. david: i was a piker. i said 32 billion, $32 trillion. >> doesn't matter how many zeros. david: drug companies and pharmaceutical companies made deals with the devil over the years in terms of working with the government and working with politicians who want to increase the role of government in

do you think that would happen, steve forbes? >> i think regulation may come. wish these people would take a cue from the old at&t back in the monopoly days when they went out of the way to make sure everything was covered, service was su superb, they knew how to cover all the bases. these people, we can talk about this all we want. if they're seen as abusing their power, there will be a reaction, like the railroads got in the late 1800s. maria: they'll force them to get small. dagen: as facebook was getting so big and abusing and showing reckless disregard for people's privacy, the government didn't step in and prevent them from getting bigger. there was no pushback on acquisitions. >> they weren't concerned about privacy. they were concerned about profit. they were making money and they were doing it until they got caught. maria: coming up, facing justice, the illegal immigrant accused of killing molly tibbetts in courts today. we've got the latest amid rising tensions about border security. check out a magical moment at tiger stadium during a tribute to aret

kevin kelly, "forbes" media chairman steve ford center and susan leigh. i guess this is just disappointing that maybe people thought miraculously and it didn't happen. >> know because someone will not back down unless he is absolutely forced to. it will ultimately force in in the economy itself. he thinks that he can put on tears any means very little, but they don't know how to defend their currency. they don't know you go in the markets can they keep it off the markets to stabilize it. >> what are they doing? they don't want you dabbling in the foreign exchange markets. >> one in effect they do is raise interest rates which hurts their home domestic economy. using the reserve which they still have defined, reducing their money supply. you reduce the money supply so that people want your current needs. instead, the end of printing more money. it's like throwing gasoline on a fire. >> i seem to remember that with argentina, thailand and russia. one crisis after another. >> time and time again we see that someone has blamed everybody but himself and it sta

my name is elizabeth chong and i work at steve. forbes the temple of technology. the result of the market. the momentum of the board. made in germany. your business magazine d w. frank food to help watch international gateway into the best connection self in road and rail. located in the heart of europe you are connected to the whole world . experience on standing shopping and dining offers and trialling services. biala guest at frankfurt airport city managed by from. this is the news line from good name that the u.s. remembers charlottesville one yet to the violence in the virginia city shocked the world tributes to the young woman who was killed correspondent needs her mother who says she'll carry on her daughter to struggle against white supremacists and also coming up. the u.s. courts are one of the dying man and millions of dollars of jewelry says a month until you can educate him counsel with other lawsuits filed will find out what this means belong.

guggenheim's steve forbes says there was an ongoing concern about the impact of transportation costs.say the view -- they do the company as best in class. a lot of enthusiasm. we are hoping to see that translate into slightly higher movement in the stock price today. >> i want to mention its competitor lowe's is out with their numbers on the 22nd. i pulled up a stock chart because we tend to look at lowes in competition with home depot. they had been trailing home depot for a wild. if you look at it on a one-year basis it is a tighter race. we will see how lowe's does. mark? >> still ahead, crypto crunch. why bitcoin and other currencies are retreating. it going down by 3.6% today. this is bloomberg. ♪ >> live from london i am mark barton. >> this is bloomberg markets. collateral damage, the rand is down as turkey's financial turmoil impacts emerging markets. the south african trade ministers both to bloomberg about the challenges facing his country. >> we have been affected by the currency instability of the south african rand, it has gone down about 13 something to the dollar to abo

john: joining me is forbes media chair and editor in chief, steve forbes, with his take. i want to ask you about a recent article in forbes. john brinkley wrote an exceptionally good article on tariffs and in his view, we are losing the trade war with china. he cited several anecdotal evidences. you think we're losing the trade war? >> i think calling victory or defeat is too soon yet. the key thing is what kind of agreement they have reached. these negotiations are going and now it's critical we lay out here are the specific things we want. before they thought they had a deal with treasury secretary mnuchin. trump said he didn't like it, so lay out what it is exactly we want. these things are very hard to do, even with mexico, where we keep thinking we are just about to get it done and get canada in. these things are extremely difficult. i think that's why the market is wobbly. if you could wave a magic wand and get rid of these trade disputes you would see the market go up 5,000 points. john: we want them to stop stealing intellectual property but it's harder, how do we

weave our way past lamar alexander and elizabeth dole, and that we would have a challenge from steve forbesd a personal wallet and was sort of the true believer conservative, and that we thought we would have some problems with rambunctious john mccain, but not big. we could reposition him as what he was: a successful governor wh and juvenile justice reform and welfare reform. - i'm goinun a campaign that is optimistic and hopeful sitive. - the most important thing i think we did was define bush very early as a compassionate conservative. - i'm running because i want our political party to match a conservative mind with a compassionate heart. - a great phrase, right? i mean that's fantastic, right? compassionate conservative says, "let's take care of yo "you fall on hard tibes, i'm gonna ood to you. but yeah, i'm not gonna spend a lot of money." - i don't moink bush was any re compassionate than than anyone else. the republican leadership loved george w. bush e he was a blank slate and they could create whatever character they wanted. - it was a core part of the bush campaign strategy to ap

we started this conversation, about what is going on, with trade, tariffs and white house, even steve forbesith all our allies, and take on china, at united front from japan to canada and mexico. and that was the is disturbing about steel, aluminum tariffs to begin with deal with mexico a handshake deal negotiating with canada that is why we are watching this renegotiations of nafta so closely there was just a report out in the globe and mail newspaper in canada, with this headlined canada government officials said to -- deal friday -- >> it is a deadline, it is arbitrary deadline according to some set by the white house that is why not just in terms of the united states economy and our trade with these allies that is like so important to make sure, that we get everybody on our side, and we can take on china. >> that is absolutely critical dagen you know you are one hundred percent right on that. that is why, the -- sort of the handshake with europe, at the end of july that was good thing, because really what happened there was for instance you take soybeans everyone talks soybeans europeans

stuart: steve forbes sitting next to me says you're wringing your hands in despair here. >> we've seenmazing thing is other countries have higher master subsidies that would send up with a huge like 2008. could've been a trying to resurrect an old bad movie how about privatizing cnn friday. let them go out in the marketplace and that the government pulling back and let the housing market flourish on their own. it is not the lack of funding. it's all the local regulations that make it difficult to get permissions to build houses in an efficient and cheap way. stuart: we have an interest in this development. southwest airlines changing their policy for service animals on flight. first of all, what are they doing? ashley: there's only one per customer and they have to be within a kerry or on a leash. there is a distinction, though. their emotional support animals, but there is also trained service animals. those can include dogs, cat and miniature horses. but no other exotic animals aloud. and one per customer. i did no miniature horses were considered trained service animal, but apparent

dagen: as steve forbes said earlier in the week, the market would be higher -- >> he said 5,000 points higher. i take 2500. dagen: just higher if we didn't have the tariffs which are antigrowth which we didn't -- if we didn't have the fight that is we've gotten into on trade but we need to see clear roads ahead. maria: we will see about that, meanwhile coming up this morning big program, former ceo and chairman of macy's is here to talk about retail environment, we know we've had a very good environment in the last couple of weeks, former attorney general alberto gonzÁlez is here to talk about the offset between the president and mr. sessions, so we will talk to former ag about that, former utah congressman chairman jason chaffetz, former senior adviser mark penn, interesting op-ed yesterday, we will talk to mark about that. first u.s. and china wrapping up trade discussions but fail to go make any progress, chairman of the federal reserve jay powell is set to speak at 10:00 a.m. here is what kansas city federal reserve esther georgia told us about implications of tariffs. >> if this l

there's an op ed in the new york times from stephen moore and steve forbes, they're calls on presidents by taking a page from president reagan's strategy for nuclear disarmament. the article says just as no one ever thought mr. reagan would stem nuclear denuclearization, donald trump could be known as ending trade barriers, rather than erecting them. he walked away from thest u, saying we're walking towards no tariffs. >> it was a landmark. before that, everyone was saying donald trump is bringing down the global trading system. he's actually reducing tariff barriers. if that deal with the eu gets implemented, it probably will, there won't be any tariffs on nonautomotive products. dagen: he should stop bragging about how awesome the steel industry is in the country because of the tariffs he put on steel and aluminum. it's a handout to that union. that steelworkers union has been pushing the democrats for this kind of deal for years and he brags about the steel industry. well, the steel industry employs about 140 to 170,000 people. steel consuming industries that are getting hurt that a

kevin kelly, "forbes" media chairman steve ford center and susan leigh.s is just disappointing that maybe people thought miraculously and it didn't happen. >> know because someone will not back down unless he is absolutely forced to. it will ultimately force in in the economy itself. he thinks that he can put on tears any means very little, but they don't know how to defend their currency. they don't know you go in the markets can they keep it off the markets to stabilize it. >> what are they doing? they don't want you dabbling in the foreign exchange markets. >> one in effect they do is raise interest