reagan was slightly reelected with 49 states so the american people loved what reagan did for the american economy. lot of what donald trump has done is out of the pages of reagan's policies. different than reaganomics. trump is more of a populist but they both wanted the american economy to expand and boy, has it. host: the president has been critical of the chair jerome powell because he says he doesn't like the interest rates. is that appropriate? guest: there is a big debate about that. the president has the right to speak out about said policy. the president is the ceo of our national economy and why shouldn't he be able to express an opinion? everyone has an opinion about what the fed should do. if you watch fox business news are you watch cnbc, that is all they talk about. i think the president should weigh in. i happen to think the fed does not need to be raising interest rates now. we have 4.5% to growth and low inflation. that is perfect, that is what you want. ingorry that the fed is tak the punch bowl away from the party just on the party is getting going. goingis concerned that is to

the american coal industry. i think there has been a radical shift in the direction of the economy since november 2016. the american people understand this. i was looking at polling i was t some polling the other day that under barack obama, throughout most of his eight years in office and is certainly true for the day before the election in november 2016, only three out of 10 americans, 30% rated the economy as good, the number today? seven out of 10. that is a dramatic turnaround for you o dramatic turnaround. motivations were sincere, but you do not to make the economy growth faster by raising taxes on businesses, and it had a negative effect on the economy. host: i want to ask you about trade because we expect to hear the foreign minister changing her plans, rushing to washington to meet with administration officials and the deadline self-imposed by the president, 90 days and so he could get to congress before december 1. explain why that is important. guest: for my first meeting with donald trump which is now a little over two and a half years ago, i challenged him on trade. i am a free trade guy a

the american economy is getting stronger and stronger. it is going to boil down to this. country in the world is going to make the choice of becoming the partner of the iranian economy with all of the problems in iran versus the american economy? that is a real measurement. and we will see the results. molly: upsala, thank you so much. aliza november as well. we will be looking ahead of that. >> thank you, molly. mike: another shark attack this time on the west coast. where it happened and the latest on the victim, next. we want an update in the fbi probe and allegations against judge brett kavanaugh. an attorney for one of the accusers, deborah ramirez, his classmate from yale confirm she has been contacted by the fbi and agree to cooperate. molly: a 13-year-old boy recovering from a shark attack in southern california. the teenager was diving for lobsters on saturday. >> we are actively having guards coming onto the beach and into the want to let people know we had a nonfatal shark attack and advising them to stay out of the water. molly: jeff paul joins us from our los

what we focus on is the threat, as opposed to american democracy, to the american economy by the concentration and monopolization. started openre, i markets a number of years back at a think tank called new nowica and we are independent, growing, and stable. >> why were you asked to leave new america? >> we were asked to leave because we reache released a statement applauding an antitrust decision in europe against google. there were a lot of folks in new america who were from google, who supported the new america think tank, so they were not happy with the statement and it was impressed upon us that we had to leave. >> is google one of those companies that concern you, when it comes to the american economy and democracy, the concentration of power? people have to understand we have a wide ranging problem with political power -- concentration of power. pretty much every sector. manufacturing.s, thethe area that gives us most concern because of the nature of the corporations, the power that they have, are the platform monopolies. this is google, facebook, amazon, u maybeber -- maybe uber. host:

the benefits of this strong economy have not reached all americans. sette: hsbc has raised main lending rate in hong kong for the first time in more than a decade. the move closes off an era of ultralow borrowing costs that sent property prices skyrocketing. the london-based bank boosted its best lending rate hours after the hong kong monetary authority raised it is mark interest rate by what he five basis points in line with the fed. u.s. president donald trump has said he and his chinese benterpart will -- might not friends anymore. he accused beijing of trying to interfere in november's midterm election. you made a significant allegation against the chinese government, you suggested that the chinese had meddled in or are meddling in the midterm elections. what evidence do you have? president trump: we have evidence, it will come out. i cannot tell you now but it did not come out of nowhere that i can tell you. they have admitted they are going after farmers. juliette: brett kavanaugh has been accused of the most lurid sexual misconduct yet as senate

many of us want what is best for the american economy. the president's tweet is a strong missage to the members of congress who want a political win for themselves. they want power and not to mess around. not only will you hurt yourself politically but you will hurt our country. >> this is a big one for new york. they move on that issue. might that change your vote one way or the next? >> i don't think this administration, i don't want to speak for the administration. i'm not sure if this is their position. they are not cutting a deal will canada where they are not budding. this administration is taking a stance and fighting on behalf of businesses. i don't believe this administration would be sending a deal to canada. >> earlier this week on friday they asked whether or not she essentially feels the united states wants a deal or at least -- >> they have been working really, really hard. >> there was a pause there and it wasn't a yes. the canadian theme is skeptical. was that the ebbs and flows of negotiations. >> listen, the president is

what we focus on is the threat that is posed to american democracy, to the american economy by concentration, by monopolization. we got here, i started open markets a number of years back at a think tank called new america in the year later we were asked to leave so we are now independent in growing and stable. >> wherever you has to leave new america? >> guest: we were asked to leave because released a statement of antitrust decision in europe against google and there were a lot of folks with a new america who were from google that supported the new america think tanks, said they were not happy with the tape and and it was pressed upon us that we had to leave. >> host: is google one of those companies that concern you when it comes to the american economy and democracy and concentration of power? >> guest: what people have to understand is we have a very wide-ranging problem with concentration of power. pretty much every sector of the political economy in the united states has been highly concentrated over the last immigration. it is retail, through services, through manufacturing. but the

we need to overhaul how we think about the american economy. we know first of all, corporations don't drive the economy, workers do. we grow the economy from the middle class out, not from the top down. might be interesting to know that just this week, the fdic announced that bank profits have continued to skyrocket, yet middle class wages have shrunk. if work isn't valued, americans can't earn their way to a better life for their families, no matter how hard they work. last year's tax bill was an opportunity to reset our priorities by focusing on american workers, focusing on the businesses that invest in them. a bunch of democrats, a bunch of us, had plans to cut taxes for millions of american workers and businesses that create jobs here in the u.s. we fought to expand the earned-income tax credit and the child tax credit that reward work to put more money directly into the pockets of working families. we worked to cut taxes for businesses, but only those businesses that treat their workers well and keep jobs in the united states. we want to e

americans don't. large parts of america have not recovered from the crisis. the san francisco fed s estimating that as a result of the lost growth in the u.s. economyhe decade in which america grew below where it might otherwise have been, the recession probably cost the average american about $70,000. >> reporter: $70,000 in lifetime income, that is. >> so that is not something we're ever going to get back, regardless of what happee in ock market. >> reporter: which prompted a final question, about the political ramifications of the crash of ¡08, at a final location. >> this is zuccotti park, just by wel street, the site of th famous encampment in 2011 that spawned occupy and the discourse of the 1% against the 99%. the place where inequality in america today was really put back on the political map. huge rage against bailing out the banks. and the other great political reaction to the crisis came two years earlier in the form of the tea party. the idea that irresponsible borrowerwho had taken on debts they couldn't afford were now going to be rescued by the federal government. one opens if you like the door to a more radical politics on the right

it means that we should find other ways to do it that do not negatively affect the american economy and american companies. you asked me what time it was, i told you i needed a watch. >> on the question of intellectual property theft with regard to china, you are saying and what they are doing is not the right way to go about this. what is the correct way to deal with chinese theft of intellectual property? >> you mean other than tariffs? >> exactly. >> first of all, there are a lot of things that china is seeking to do in their new government. we have tremendous leverage there. you could, for example, instead of having us pay major tariffs, you can limited the things that they could export to the united states. there are all sorts of ways to leverage our trading partners, as they leverage us, by denying us access to this type of business opportunity, or that. they may deny access to exporting things to our country. we need to be more sophisticated. >> talk about your relationship with the white house. are you in regular communication with them? last i could see, you were at the white h

you think of us walking us consumers in an economy, we are affected by headline inflation. the average american is impacted by -- the reality is that a fair bit higher. nejra: let's bring one more person to the conversation and hear from the citadel ceo. >> the economy is running hot right now. the trump policies, whether deregulation or tax reform, certainly pushing corporate termsa to go, go, go in of new plant and equipment, hiring people and so on. months another 18 to 24 minimum in this cycle just on the bath -- just on the back of the adrenaline rush. nejra: should the fed be taking more advantage of the fact that we have 18 to 24 months minimum in the cycle? >> very much so. if you think of how long the fed will be raising rates, the risk is they do more, not less in the cycle. manus: the other thing i wanted to ask you about is the differentials in treasuries to bunds. in the dollar to other currencies. the euro-dollar is dropping. 0.2% on the italian budget news. the trajectory for the differential in terms of bund treasury, that's right want to call. >> that is at an all-time wide. th

the banking system. pres. bush: this is an extraordinary period for america's economy. many americans of felt anxiety about the finances and their future. i understand there were he and -- in their worry and their frustration. we have seen triple digit swings in the stock market. major financial institutions have teetered on the edge of collapse and some have failed. as uncertainty has grown, many banks have restricted lending. credit markets are frozen and families and businesses have found it harder to borrow money. we are in the midst of a serious financial crisis. the federal government is responding with decisive action. we boosted confidence in money market mutual funds and acted to prevent major investors from driving down stocks for their own personal gain. most importantly, my administration is working with congress to address the root cause behind much of the instability in our markets. financial assets reloaded to home mortgages have lost value during the housing decline. in the banks holding these assets have restricted credit. as a result, our entire economy is in danger.

this has implications not just for the american economy, but for the global economy.ederal reserve is the credit and pace makerfor federal reserve is the credit and pace maker for most of the world. developing economies are really suffering from increasing prices, the question is are the federal reserve going to take action on that, are they going to take account of the effect and pain they are causing in developing countries? thank you forjoining us. our team in the us will be telling us what is going on later, as they make their announcements. shares in the chinese hotpot chain haidilao have surged more than 10% on their debut in hong kong — that's after the firm raised almost $1 billion in its initial public offering. rico hizon is in singapore. i don't know if i pronounce that company name right or wrong, you can correct me and tell me what is going on. haidilao. williams. is a beijing —based restaurant chain, it has outlets from the us to japan and has a reputation for keeping patient customers waiting for more than two hours for table because of their famous hot

this conference speaks to the vital role, not just in the overall success, but the success of the american economy. the reality is we are seeing more skepticism than ever before about the impact of these technologies. part of these ideas come from the worry of how these technologies are changing the nature of work. a team of 15 radiologists recently competed against an artificial intelligence system to see who could diagnose new neurological disorders faster and more accurately. this is mind blowing. each site studied samples. the average team of humans took 30 minutes to diagnose a patient with a 66% accuracy rate. an algorithm meet a correct diagnosis 87% of the time, in only 15 minutes. many workers without college degrees, for example, represents 70% of american adults thinking the same thing, whether it is long-haul trucking or another profession. now we bring up this issue to explain why it is sometimes hard for governments to be on the side of innovation. when change occurs, it's easier to identify and focus on those who will be hurt, rather than those who will be helped, even in the long r

of the major impacts if not the major impact has not been on china but on american manufacturers, the very sector this trait wart is supposed to support. the american economy trade war. american supply chains are breaking down. a lot of manufacturers that have survived globalisation are now facing serious problems. one of the consequences of the trump administration what could say is that the strengthening of the us dollar. that is also hurting the global supply chain. could that provide some relief? only at best in the short—term. what we are dealing with here is essentially to act as. you have the uncertainty caused by the trade war. the $200 billion of ta riffs the trade war. the $200 billion of tariffs coming in tomorrow and we still do not know what he is going to do. the supply changed is also taking a real hit. while the weakening of the dollar may help on the supply chain, you still have to deal with the uncertainty which is argued we have in more of an impact. thank you for coming in and taking us thank you for coming in and taking us through that. let's stay in the us, where shares of the social media giants have fallen as their top executives fa

it means nothing to the american economy. trump is a politician and it means something to the people who voted for him. he ran on reapproving these trade deals. none of you guys in d.c. would have jobs if you didn't have great politicians winning these races. my point is, i talk to people who want better -- there was a woman on maria's show in the past week who sells cheese. she sells string cheese flavored with fruit, and she wants to be able to sell into canada more easily. >> that's fine. we have a 180% tariff on peanuts and tobacco. we have a few of those agriculture protection thing too. but in the big scheme of things the, irrelevant political maneuver that isn't going to make jobs in america. the thing about mexico, of course they like the deal. trump is saying you have to raise wages to $16 an hour in mexico. that's good for mexican workers. he's saying 75% content. dagen: it puts us potentially on a level playing field with mexico. >> it's not even close. the uaw is $30 to $60 an hour. dagen: how is it not good. when

the american economy is mostly driven also by personal consumption. who says personal consumption also says increase in imports. the trade balance of the u.s. is not improving despite a high-growth of the u.s. economy. second point is we are at the edge of midterm elections in the u.s. let's never forget that. most of the rhetoric we currently see is very much targeted at voters in the u.s. in view of the upcoming midterm elections. you very much indeed for joining us, wilfried verstraete, chairman of global trade, joining us from shanghai. i want to get you to some of these lines coming out of pyongyang, the talks between kim jong-un and his counterpart there from south korea as well, just saying they will be signing a military agreement at 11:10 a.m. ,ot sure if that is seoul time must be hong kong time. they are going to sign another agreement. david: l we will beive out of south -- we will be live out of south korea. in the meantime, let's bring in paul allen. an update of your first word news. paul. grew again's exports in august while strong impo

in the 1950s as i'm sure many of you know, the american economy entered a boom period where great waves of consumer products went washing out over the american population. this took place after the private asians of the great depression in the 1930s, the restrictions of world war ii in the 1940s . the rapid growth of consumer prosperity in the 1950s which of course was linked to the rise of the suburban middle-class, promoted an ethic which said that the purchase of automobiles, normal houses, two car garages, lawnmowers and washing machines and televisions and barbecue grills, leisure activities of all kinds. this is a key part of the american way of life. it was a signal of abundance and abundance was the key to the good life in america. playboy from the very first issue in late 1953 was heavily invested in this new consumer ethic. it really offered guidance to young men , a kind of guidebook for young men. many of whom had a good job and a good salary for the first time as they face this new consumer cornucopia of goods. and instructed them as a kind of a guidebook on stylish clothin

has been reliable as being a reliable indication of what's going on but what we do know in the american economy is that skill shortages are beginning to impact labor markets. anybody who's a global in america basically is you know can get a joke so the economy is i think in a pretty advanced stage of its credit cycle i don't think we can really i mean you keep talking about all this money sloshing around the system and the fact that we have failure of crisis governor at the same time you can't really call that money money has starkly is a store of value or a means of exchange but we're talking about family by the central bank that is for political favoritism and for political outcomes that's not money that those are coupons that are printed by a centralized autocracy to further their power structure but it's not quote money as i understand that term and the everything you're saying kind of buttresses that point the flattening ales curve is an economic indicator that would help you determine oh are bonds expensive or are they is a market but again we're not talking about money are we were talkin

the american farm economy was massively ill-prepared for the evolving 20th century. well before the depression, the farm sector was deeply troubled. there were too many farmers and -- onorkers trapped by unproductive farms with no access to capital, a of managing risks. the farm economy was marked by a deep-rooted disequilibrium. the vastly compounded challenge of 1930's policymakers and policy makers the 1930's. during the depression, congress responded with a mix of policies. the u.s. was not alone in imposing controls and protections of the farm sectors. this was worldwide but few imposed such extensive production controls. why did the u.s.? do this and they remained in place -- why did the u.s. do this? and they remained in place for decades. the answer is its dependence on exports by 1930, the american prices have been pushed out of line with world prices largely because policy mistakes produced and an enormous buildup of carryovers of surplus stocks burdening the american market. paradoxically, the uber administration and agrarian insurgents -- their answer was

the economy. is the components of the economy that americans are interested in. linda: jim from the los angeles times. >> staying on that theme what , would democratic control of the house me to the chamber's agenda? i know you have been very active in pushing for scaling back some of the dodd frank regulations. having maxine waters as chairman of the financial services committee. what would that mean for your financial services company members? tom: one of the things that interest us a great deal is the agenda that would be broad to -- brought to the congress. if the democrats took over the house, or the senate, and you can make a lot of those judgments yourself. you can see it in your question. my concern is if i am listening to everything that i hear the people particularly in the senate talking about, free health care for everybody and on and on with all the. aggressive -- the very progressive activities they promised a were going to bring us, i worried about our economy. but i am worried about it in the pieces that we were talking about. what happens to tax

states of america if you think the average chinese even is even half as smart as the average american china will have an economy which will be twice the size of america. and as you know the chinese haris mart has and what he hopes and the mistake that these american thinkers are making is thinking that this last century's right of western domination is normal actually as i said it was an aberration because from the year one to the year it hundred twenty that the largest economies were always those of china and india so this aberration has to come to an end and you cannot fight for what i think is it because presidents come and go and then with every new president there's a new course of action here this approach towards china detail actually perish with trump or is it a long term strategy for america now well i am actually writing a book on that subject this year on u.s. china relations because history teaches us that whenever there was number one emerging power which is china is about to overtake there was number one power in economic size and scope to happen in the next ten years then there will be a maximum

what we focus on is the threat to american democracy, the american economy, and monopolization. -- i started open markets a number of years back. i had a think tank called "new to leave we were asked do america so we are independent. host: why were you asked to leave new america? barry: we released a statement of plotting an antitrust decision in europe against google. and there were a lot of folks within new america that had -- that were from google. host: is google one of the companies that concern you. barry: in the u.s., it has been highly concentrated. it is true of manufacturing. that gives us most concern is the nature of the corporations and the power that they have. host: what about the group that is a threat? barry: the traditional american approach when we have had monopolies in the past -- and we have had them. the approaches to have anti-monopoly laws. they neutralized the power and that monopoly. they are perfectly apt to deal with google and amazon. host: we want to bring google and political into the monopolization. >> google received a lot of flak or offeringing up,

amazon, and what it means for the company. >> that's a huge chunk of a standard measure of the american economy by its strongest typhoon in 25 years, killing at least six people and injuring 160 others. the typhoon made landfall today, crossing the main island near osaka, and bringing heavy rain and winds of more than 100 miles an hour in western japan. you can see those winds were strong enough to cause this large tanker to slam right into a bridge. japanese officials have ordered more than 1 million people in affected areas to evacuate their homes, due to the danger of high waves, flooding, and mudslides. the typhoon has also left tens of thousands of people without power and forced the cancellations of hundreds of flights across airports in japan. >>> the body of a california man among three people still missing after two boats crashed on the colorado river was found today. authorities recovered the body of 15-year-old brian grabowski. this comes after the body of a 51-year-old woman from visalia was found in the river along the california-arizona state line. the search continues for two oth

effective he is as a speaker, he cannot convince anyone that his administration was good for the american economy. the day he left office the regulatory stuff started getting repealed. and that did so much damage. he never would have pushed a tax cut. and the american business community clearly understands who is responsible for this economy. david: there is also the idea of leading from behind. and this president who takes such a strong action whether it's china or dealing with all kinds of areas around the world, particularly the middle east, sending our forces into syria to take care of that red line that president trump ignored. this is genuine leadership. what we saw from president trump was an absence of leadership. ed: he wasn't viewed as a world leader by any of the leaders around the world. he was a community organizer and he continued as a community organizer as president. he was advocating healthcare for all. he wants to get on the campaign trail. trump will use him like a speed bag. david: he had an almost open contempt for business. you didn't build it. he what chastise every level o

president trump claimed that his havevers on tariffs listed the american economy. to what do you attribute the strong u.s. economy? let me say that there is not a lot of argument about things that need to be fixed. timexample, it is about that we are dealing with china on the issues on the test of our intellectual property it -- theft of our intellectual property. and the effort on their part to deny us any opportunity for a competitive offer in areas where they have their companies of significant government role. economic success requires fundamentally two things. one is investment capital, and more and more we are getting there. human talent. while we have great human talent, as the economy is growing, every industry i visit with start off, where are we going to get the people? what that suggests is sometime after the midterm elections, i think there is going to be a lot of discussion going on about say isrm -- what i would an effort to find workers. i'm trying not to name it. ,n immigration bill in pieces we are going to have to work on. issuesstion of the trade

through the blouses, washington saved the american and perhaps the global economy but trust in public institutions never recovered. just ahead of bush's first term, 44% of americans recorded a high level of trust in the federal governme government. at the height the number was 24 24%. the crisis gave way to populism at home and in europe. in the united states this translated to a remarkable fraying of the left and a hostile takeover of the right. so when the next financial crisis hits, the real problem will be any response to require a substantial degree of bipartisan cooperation and fast. does anyone think that is possible in today's washington? when we come back, i want to talk about the future of the global economy and where will the next crisis start. i will be back with andrew ross sorkin in a moment. this is an insurance commercial. but let's be honest, nobody likes dealing with insurance. which is why esurance hired me, dennis quaid, as their spokesperson because apparently, i'm highly likable. see, they know it's confusing. i literally have no idea what i'm getting, dennis qua

morning president trump brushing off concerns about new tariffs on chinese products hurting the american economy . the president tweeted, tariffs have put the united states in a very strong bargaining position with billions of dollars in jobs flowing into our country. yet, cost increases have thus far been almost unnoticeable. if countries will not make fair deals with us they will be tariffs. this comes one day after reports of trump administration plans to announcing another round of tariffs against $200 billion worth of products from china. the president is due to meet with chinese leaders this week and had already said the tariffs will give him more leverage in the next round of talks. those talks are expected to focus on china's practice of pressuring american companies into handing over new technology in exchange for doing business in china. >>> the house intelligence committee plans to transcripts of dozens of private interviews conducted during its investigation into russian election meddling committee chairman david nunes republican from california says he will release the materials in

they are necessary to get our economy back and secure the confidence of the future of our markets, our economy, and the economic well-being of all americans. thank you. i will turn the podium over to chairman ben bernanke. mr. bernanke: i want to express my thanks to my colleagues for what has been an extraordinary collaboration. challengens know, the is evident in the economy are large and complex. i believe that the steps taken today will help us overcome them. our strategy will continue to evolve and be refined as we adapt to new developments and inevitable setbacks. we will not stand down until we have achieved our goals of repairing and reforming our financial system and thereby restoring prosperity to our economy. year, the federal reserve has actively used its powers and authorities to help the economy through this difficult time. the worldnks around have consulted closely and cooperated in unprecedented ways to reduce strains in our financial markets and bolster our economies. we will continue to do so. however, clearly the time had come for a more comprehensive and broad-based solutions. history teaches us that government engagem

, the economies of the northwest, the plains economies. around the american southwest, the rating, trading, plundering economy is a helpful metric for gauging economic activities in the pre-reservation west. we can all imagine any post-reservation west when the u.s. army has won the civil war, there are no longer major adversaries confronting the american nationstate from 1865 until the spanish-american war of 1890 weight. an entire generation of u.s. military leaders will seek engagement and recognition in western american military campaigns or stations. -trainedthem are yale army officers like william henry pratt, william tecumseh sherman. the rival of the u.s. army at the time of the aftermath of the establishment of reservations, like the one in colorado, is ratified by the senate through a tricky process. these are the kind of structuring political, sovereignl, legal, mechanisms that yield those forms of autonomous, strategic goals that tribes have been trying to obtain for decades. people will not know this because it is not in your colorado history boo