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[ sigh ] introducing an easier way to move with xfinity. it's just another way we're working to make your life simple, easy, awesome. go to xfinity.com/moving to get started. >>> welcome back the unemployment rate is low interest rates are low the economy is more or less humming along. but democrats in the first night of the presidential debates say this economy is not working for most americans how feasible are their plans for the economy, and what are the key takeaways from night one of the democratic debates joining me are nbc news and msnbc political analyst mike murphy and editor at large john harwood. welcome to you both. john, what do you think was the standout from last night was it a who was it a what? was it the economy health care? what jumps out to you? >> i thought it was a who and a what the who was elizabeth warren and the what was her joining bill de blasio, the mayor of new york in standing up and saying i would be for abolishing private health insurance. that's part of the medicare for all bill bernie sanders has talked about but she's ducked that issue before. lively debate among political strategists today. i'd be curious to hear mike's take as to whether that would be a crippling position to take in the general election even in the abstract people don't like insurance companies, they want a new health care system medicare for all polls well. the idea of that kind of radical change in a major american industry might be problematic when you get to outside the democratic primary into the general. >> especially because this is perceived as the achilles heel for president trump and for the republican party right now they turned that strength into more of a weakness based on how quickly this conversation has gone to abolishing private health insurance >> i think they could have elizabeth warren has a strong message for the democratic primary but you don't get elected president by winning the votes you'll get for free in the general election health care is a big complicated system what they don't like the most is enormous, scary change so if you go into a general election saying, step one to my plan, throw away your insurance card, that is gold for the republicans who would much rather be on offense against a warren or bernie on that than defending the fact that president trump hasn't been able to make any meaningful changes in the way people receive health care to improve the happiness of the system so it's one of these deals, short term, might have been a win. long term, vulnerability >> short term it's also an opportunity for joe biden tonight because his strategists are telling me they thought that would be disastrous in a general election so you can bet joe biden tonight who is running as the more moderate candidate, the front-runner in this field, he is going to draw that distinction with elizabeth warren and try to reassure people, no, i'm the guy who can bring things back to normal. not the guy who is going to turn your world upside down >> broadly speaking on the economy, did they strike the right tone last night? because again, i am listening to a lot of it. and i thought the way the question was framed was interesting by savannah guthrie. 70% of people approve of the economy, including two-thirds of democrats. what do you say to this? they say that economy is working for less and less americans. does that message need to be massaged or does inequality get hammered more as a theme, or what do you think about that messaging? >> well, i think it's the only place they can go. it has a certain grip in the democratic primary, though it's also true while the macro numbers are good, real wages which drive voter opinion have only started creeping p. so a lot of people don't perceive they are feeling this good economy so they have got to have an economic argument. that's the best one they have. we're in pollster economics. green, high-paying jobs, all that it's not real economic policy yet, and it's all expensive. >> real quickly, john? >> worth pointing out that there's overlap between what she's saying about people left behind and what donald trump said in 2016 he talks about the forgotten people there is a wide agreement that there's a large swath of americans who are not prospering in this economy. the question is, how much change makes sense to try to help them without hurting what is being successful in the american economy. >> and one of the biggest applause lines for the washington governor is when he said, i stand for unions, and i want to help you and i want to be with you and make that change for you. so maybe it was naked pandering or maybe it just reflects some of the populism these days mike murphy and john harwood we'll look forward to part two tonight. here's what happened when asked about their willingness to abolish private health insurance. >> who here would abolish their private health insurance in favor of a government-run plan just a show of hands to start out with >> that was bill de blasio and elizabeth warren raising their hand the only two if they are the only ones in favor of doing that, does the industry have anything to worry about? for more, i'm joined by les, a health care portfolio manager at esquared capital management and professor at columbia. so what do you make of the direction this is going? >> i think to the last analysis, i think it's health care via slogan, and we've got a long way to go. i think that managed care has underperformed because even if we don't get medicare for all, assuming a democrat wins, and that's a big assumption, there will be additional pressure on the group. >> but i thought the maryland guy made the most interesting point last night when in the middle of this debate he said you go around and ask hospitals what would happen if they received the medicare reimbursement rate and they'd all go out of business overnight. where does that leave the economics for the health care industry for hospitals, for especially if we're even transitioning slightly in that direction. >> i completely agree. especially in the rural areas where we're running out of hospitals now. there is a bill right now to reduce surprise medicare -- sorry, surprise emergency room bills and even that's getting pushback from hospitals because they are relatively slim margins. probably hospitals need to be dealt with in a separate sort of process. >> would you invest in any of them right now >> no, i absolutely would not. too much uncertainty they are running thin margins. down the road, perhaps, as we see consolidation. but not at the moment. >> so where would you invest in the health care sector >> if i wanted to avoid all of this, and there's a lot of here in this, i would say medical devices, life science tools, diagnostics, maybe some international companies like twist who makes dna or boston scientific and then the aforementioned health equity. >> which just bought wage works this morning >> people -- companies who are not involved with politics and where you're just dealing with the fundamentals of the business which are quantifiable politics are not quantifiable. >> what would you do with the insurers steer clear? >> how many people do you estimate work at our nation's health insurers? >> there have to be millions who are either at insurers or if you include the blue plans and things like that, a lot. >> millions of people who, you know, we're talking about completely eliminating their industry >> right and you're also disrupting hospitals, too, which tend to be the biggest employers in most congressional districts. so there's a lot of disruption that could come from a radical change and i think cooler heads will prevail, i hope. and to be fair, the current system is not really sustainable. so we have to do something >> like what >> my guess, my suggestion, not that anybody is asking, but i would say allow the states things like medicaid buy-in and experiment at the state level before we rolled something out on a national level. >> which means those programs will expand no matter what which has implications for the health care system because it sounds like it's not great for profits and for taxpayers because they're costly >> for sure taxes are going to go up. if you pay -- if you insure more people, taxes are going up and costs will go up it's just the math but you could argue that if people have a health care cushion, maybe there would be more entrepreneurial you've seen those economic arguments. >> it's going to be fascinating. we'll be watching. >> it will be a lot of fun >> we'll be watching tonight and in the months to come. in the meantime, you're steering clear of the entire insurer sector while this plays out. >> right >> les, thanks for joining me. >>> coming up -- another problem with boeing 737 max. could it push the plane's return to service into next year? we'll have those details and the potential impact on the company. >>> the shares are down more than 2% right now. as we watch them in the session. >>> plus, it's not just facebook collecting data on what you doa. there's something else most of us use every day that's doing the same thing we'll tell you what it is and whether you should be worried, next so ...how are you feeling? on a scale of one to five? one to five? it's more like five million. there's everything from happy to extremely happy. there's also angry. i'm really angry clive! actually, really angry. thank you. but what if your business could understand what your customers are feeling... and then do something about it. turn problems into opportunities. thanks drone. customers into fanatics change the whole experience. alright who wants to go again? i do! i do! i have a really good feeling about this. >>> welcome back to "the exchange." here are some of the movers this hour shares of howard hughes are soaring 37% after the company confirmed david faber's report this morning that it is considering strategic alternatives, including a potential sale, joint venture or spinoffs of some of its assets a huge move for hhi today. >>> bitcoin is plunging. it's lower by 18% after crypto currency exchange coin base crashed. this after bitcoin investor mike novograt told squawk box he soiled a little bitcoin yesterday but wish he had sold more >>> and walgreens boots alliance up after beating on the top and bottom line. walgreens rebounded from a difficult prior quarter. >>> now to courtney reagan for a cnbc news update >> good afternoon. house speaker nancy pelosi says the children coming across the southern border are the most important part of discussing a border bill. this as senate majority leader mitch mcconnell demanded that house democrats drop their insistence for changes in a $4.6 billion border aid package the senate passed. >> so, if this is how he sees things for the future, cooperation is a two-way street. when you're talking about the children, this is a very big priority for us. so we'll continue our conversation they're not threats. >>> fisher-price recalled 71,000 inclined sleeper accessories because infants can roll from their backs on to their stomachs risking injury or death. infant deaths have been reported using other inclined sleep products >>> and a special memorial was held today for the victims of the virginia beach shooter tomorrow marks one month since a man opened fire inside the city's municipal building killing 12 city employees and injuring four others staff members gathered to honor their co-workers >>> that's the cnbc news update at this hour back to you. >> thanks very much, courtney reagan >>> here's what's coming up on "the exchange. >> ahead -- amazon heads to the pharmacy national beverage falls flat a look at who else could be wauc watching your online habits. and consumers still have a sweet tooth. a cinupn ap"rid fire." my degree from snhu has helped me tremendously. the flexible class schedules allowed me to go to work full time, run my catering business and be a mom and parent. when i reached this accomplishment, it was like, it's here, it's happening, it's now. we at southern new hampshire university are the ones who succeed. we are the ones who break through. >>> let's catch you up on a couple stories that should be on your radar it's time for "rapid fire. here to break down the headlines are dom chu, leslie picker and robert frank you can get your amazon packages delivered to your home, garage, car, you name it but amazon is now launching a new in-store pickup initiative called counter and pharmacy rite aid is its first partner this will begin in 100 rite aid stores riteaid could use the help its shares have been shellacked. surprising partner for amazon, unless they are aiming specifically at the urban market perhaps? >> that's a good question, whether they're aiming for the urban market you'd think people wouldn't have as many issues in terms of package deliveries which is one of the key obstacles for -- >> they're cracking down not tenantses and landlords. >> exactly so that would make sense what's interesting to me is how much time people are still spending in physical stores, whether rural or urban or more suburban environments. people are still spending drastically more time and money in physical stores >> it's pick-up locations. it's a network of places people can actually go. it's not that they want to spend time in stores it's just these physical places exist. you can walk to it, get to it. fedex trying to expand its rural reach by going to dollar general or whatever stores to get their things put forward amazon seems to partner with some of these retailers that have been talked about as being in distress. we talk about sears and the tire center buy your tires on amazon go to sears to get them installed. get this at rite aid >> you think they're trying to exploit the weakness >> i don't know if that's the case they're not going toward like the cvs for this very competitive head-on for some of this >> and also the terms of the deal were better for rite aid. they want a place with ubiquity in terms of number of outlets where people can go. you walk into the store. order something on amazon. you have a bar code you show to the person behind the counter and pay for it with the bar code and get the item how is that better than going to the store and buying something >> the rite aid probably doesn't carry your -- >> that's what i wonder. are they products that are shipped from an amazon warehouse that have nothing to do with rite aid or products you could also buy at rite aid >> from the shipping point of view, it would seem like it would neither work for rite aid to accept big bulky packages are they going to restrict this to the type of things they'd carry so it doesn't disrupt -- >> it's also economics rite aid has to be getting something out of this. >> foot traffic. >> could be foot traffic or something else or it could be like a swipe fee. something where every package that goes through they collect a cut on or something along those lines. >> i hate going to drug stores, and the whole idea, the reason i go to amazon is so i don't have to go to the store this doesn't work for me >> but i was thinking where we lived in the city there was a rite aid right there on the corner our building was fine accepting packing ans but a lot of them aren't and it's going to drive people to other locations. >> i also have to wonder what it means for price discovery. if you are at rite aid and you've been able to sell toothpaste for 50 cents more than someone would be able to buy on amazon, people are going to be like -- they'll see it and order their cheaper toothpaste go into rite aid and say i just bought that for 50 cents cheaper. >> and pick it up. the ultimate disgrace. lacroix maker national beverage is reporting a quarterly sales drop the sparkling watermaker is facing multiple lawsuits including a class action suit claiming its ingredients aren't all natural which is an allegation the company has denied remember, ceo nick caparella made headlines when he announced earnings with an open letter claiming the poor results were not due to dismanagement nor woeful acts of god he said much of this was the result of injustice. so another tough quarter for them >> it's a great consumer story because it tells you about the power of branding and reputation, right? lacroix was the only game in town for the longest time. it was ubiquitous. if you wanted seltzer water flavored, that's the can you saw. now within my circle of friends or socially or businesswise, i see a lot more spend drift and bubbli which is a pepsi co product. folks out there know i'm cheap enough where i've had a soda stream for years because i like to make the cartridge and make my own seltzer at home and put the flavor in it if i want to. in a commoditized consumer product, not much you can get away with without consequence if there's not bad pr >> lacroix was such a big trend. this flavored sparkling water. then people looked more closely and weren't quite thrilled with what they saw. i wonder for some of the other new products out there if people are excited by the concept and maybe try it but as they get a better sense of what those products are, are maybe a little less impressed >> a lot of people are moving to that because it's just natural juice from a fruit that is clearly put into the seltzer water. >> i think i've had one of those. >> there's a lot of questions, whether justified or not, over whether it's truly natural those essence flavors are truly natural or not a lot of people are moving toward what they know is natural which is just juice. >> or water. >> or water. >> so the end result is we're going back to juice? >> sparkling juice like spenddrift like these other brands >> we're going back to juice boxes. >> topic three, facebook and google have a lot of information on where we go and what we look at online. they are getting a lot of heat for it there are other companies that have all of that information your internet service providers. so as washington starts taking a closer look at social media and search engines, we wonder if at&t and comcast will be next. comcast and charter have specifically denied they are doing any of this kind of tracking, but as this article points out, these companies could do even more in the sense of knowing how exactly you're spending your time online, inferring what devices you use as a result of that. >> so interestingly, exactly a year ago, the fcc proposed these rules and the house voted them down they said they couldn't go forward. and these rules would have prevented the tracking of geographic location, children's information, health information, financial information. social security numbers, web browsing history, app use history, so this was something that was on the radar in washington and they decided to say, you know, we're okay with this because there are such strong lobbying practices for the isps down in washington. >> is it a little bit too early? because a lot of this hasn't been rolled out yet. was there a sense of we don't want to make this an unlevel playing field b
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