Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  November 11, 2015 3:00pm-4:01pm EST

3:00 pm
going to dictate our future. the size of government. entitlements, all of these topics are so important right now, and we got to it. we did it. and we couldn't be happier. i am very pleased and i think you all are, too. a good night all around, congrats to the entire intel team and fox business. liz claman, over to you. liz: trish, a job well done to you, the fox business team, "wall street journal" journalists, it was bangup, amazing, get to the markets here. what do you get when you mix red with green? a day kind of like today. stocks moving up and down, down for the moment. no real firm conviction, the dow jones industrials is getting lower, down about 43 points. but the s&p and the nasdaq straddling the green line on this veterans day. bond markets and banks are closed due to the holiday. no surprise trading that volumes are slightly below average. but there is definite conviction about the 2016 republican presidential debates
3:01 pm
on fox business last night. our network, we're so proud to tell you posting record ratings. the most watched event in the history of fox business. a young history. we're only eight years old but we beat this year's super bowl in the number of video streams it generated online. yeah! while fox business gets credit for the ratings, it was the candidates who are the stars in the debate, which was very long on substance, we're proud to say. the candidates getting first chance, i don't know if they wanted it, some of them, but they had to talk about topics affecting the american economy, what generated the most discussion on social media. their tax planas. listen. >> there are more words in the irs code than there are in the bible. and not one of them is as good. >> i want a government really, really small, so small, you can barely see it. >> my tax plan, however, is the only tax plan among any of the candidates on the stage that is part of a balanced budget plan. >> i have a pro-family tax code
3:02 pm
because the pro-family tax plan i have will strengthen the most important institution in the country, the family. >> make the tax code, fair, flatter and simpler, the american people feel like the tax code is rigged for the rich. you know why? because it is. >> we all have a different tax plan, some i don't totally agree with. one thing we understand, each one of the tax plans is better than the mess that we have right now. liz: are the tax plans realistic? guess what? that was a hot topic, but it was the split how to address the serious economic issue of illegal immigration that stood out as one of the most divisive topics of the night. listen. >> we have to stop illegal immigration. it's hurting us economically. >> you think walls don't work? all you have to do is ask israel. >> come on, folks, we all know you can't pick them up and ship them back across the border. it's a silly argument.
3:03 pm
it's not in the argument. >> you should let jeb speak. >> thank you, donald, for allowing me to speak at the debate. nice of. >> you 12 million illegal immigrants, send them back, 500,000 a month is not possible. >> they're doing high-fives in the clinton campaign right now when they hear this. >> the mainstream media covers immigration, doesn't often see it as an economic issue, but i can tell you from millions of americans at home watching this, it is a very personal economic issue. >> tired of being told it's anti-immigrant. it's offensive. liz: we've got all the economic angles covered. joining us live, former senators judd gregg and byron dorgan along with former ambassador to china, because china was a big and hot moment during this debate. former utah governor presidential candidate himself, jon huntsman. we are less than an hour to the closing bell. let's start the "countdown."
3:04 pm
markets are unsuccessfully fighting at this hour to stay in positive territory. right now, all red up and down on the screen for the major indices. we have the dow jones industrials lower by 46 points. the s&p down 6. you can blame macy's for the red in retail. j.c. penney, sears, kohl's after macy's gave a disappointing full year forecast. down 14%. that's the lowest level since 2009. you see the price for a single share. $40.18. the annual high for macy's. $73. a big cut over the past 52 weeks for macy's. i'm calling last night policy over personality debate. a huge night for the fox business network because we tried very hard to aim squarely for, and hit exactly that. here are the numbers, more than 13 million people tuned in to see my colleagues along with the "wall street journal" get
3:05 pm
down to the nitty-gritty with the gop candidates, asking for actionable and substantive plans. but were the plans that were articulated realistic? let's bring in two gentlemen who worked very hard in washington to try and move the country forward. judd gregg is former republican senator and governor of new hampshire where, a lot of action is coming your way, governor. and byron dorgan, former democratic senator and congressman from north dakota. great to have you both. look, we started the show with the sound bite from minimum wage. we watched very closely last night, defense spending, immigration, bank bailouts. we wrestled some answers from the candidates, but were they rooted in reality? what was your gut reaction? senator gregg, to you first. >> first, congratulations to fox business, it was an exceptionally substantive debate. i thought the moderators did a superb job, of course trish regan is from new hampshire, we're proud of her. liz: that's right, that's right. >> i think in the sound bite
3:06 pm
world which is debates, unfortunately, i thought all the candidates made strong substantive cases for their positions. to get into tax policy in 2 1/2 minutes is hard to do. some of the proposals are really outlier proposals in my opinion. but most of the proposals are built off of the rig and rostenkowski reform of 1986 shepherded through by president reagan which cut rates by reducing deductions and exemptions, we need a tax law that incentivizes people to invest rather than to avoid taxes. when you invest for the purposes of avoiding taxes, have you very inefficient use of capital. i think republicans are on the right track here and i'd love to hear democrats talk about tax reform that was effective, if they ever have a debate. liz: senator dorgan, there has been on the record, a democratic debate already on cnn. senator dorgan, what struck you
3:07 pm
about last night, and then i want to get to immigration? >> it was an interesting debate. part of the noise of democracy. this is constructive noise with skilled debaters. liz: who did you think was skilled? >> i think rubio has significant skills and cruz and others. but on the tax plans, some of them don't begin to add up. they're way, way out there. and by the way, i helped write, i was on the ways and means committee in 1986 and helped reform the package in 1986, broadening the base and substantially lowering the rate. let me make one other point. as i watch the debate last evening and the ones preceding it, one of the things that i understand is that the general election is a vastly different election than the need to appeal to a much different segment of the population in order to get to the republican primaries. last night on immigration, for example, i think they continue to pull that party far off the cliff on that issue because i
3:08 pm
don't think they win the presidency without appealing or at least having some support among latinos. liz: well, you know, we heard the immigration comments at the top, and it was interesting. by the way, in the last hour, ben carson has come out and said at a news conference where he was speaking at a medical college or medical school, forgive me, i'm not exactly sure where. ben carson is saying, which university? liberty university, pardon me. he was saying almost like giving a little amnesty, they wouldn't become immediate citizens but could register. they have six months to do it, so the plans are some cases forming. you know, that said, let's get to minimum wage. that was a hot topic particularly because there were protests outside the arena. governor gregg talking about exactly what we heard about minimum wage, let's listen to exactly what was said and then we can comment. >> every time we raise the minimum wage the number of
3:09 pm
jobless people increases. >> you're going to make people more expensive than a machine. that means the automation replacing jobs and people is going to be accelerating. >> do not raise the minimum wage. >> i would not raise the minimum. liz: okay, there wasn't a person on that stage who would be saying raise the minimum wage, but at some point if you're broadening voter base, don't you need to bring in a few workers who may respond to a message where we might see a little wiggle room like ben carson who may have said don't do it, in the last hour i was watching the news conference, give me a good argument to do it, and i'd consider it. >> well, minimum wage is i think a straw dog argument. as a practical matter, the facts are pretty clear, as you raise minimum wage, entry level jobs go away and people who get the entry level jobs and build into a better job don't have the access to the initial job. it's difficult on students who take minimum wage jobs as a part-time way to pay for their way through education.
3:10 pm
so i think it's a oneliner on the other side of the aisle, raise minimum wage and we'll help lower income people. it's a practical matter, you hurt lower income people by raising the minimum wage arbitrarily across the board and across the country. it's a state-by-state issue to be honest with you. liz: possibly. >> the federal government shouldn't be making this decision. liz: possibly, seen dozens of states do it on their own. byron, i need you to respond to something about spending when it came to military. while there were important topics, this was the social media hottest moment. let's play it, it involved defense spending. >> chris, look, i'll give you a ribbon for participation and a juice box, in the real world, it's about results about, cutting government spending, not just talking about cutting government spending. >> that was not the piece of sound. let's attack that one, too. bobby jindal was certainly a lot hard or chris christie than chris christie was on any of them. he kept trying to revert it to hillary clinton, democratic candidate.
3:11 pm
senator dorgan does this help or hurt any of the candidates when they're hitting each other? >> well, obviously it doesn't help them when they're hitting each other. the minimum wage should be adjusted, and i disagree with judd about the effect of it. the evidence is exactly the opposite. but on defense, let me make the point on defense. judd and i were serving in the senate. we fought two wars and didn't pay for a penny of it! doesn't matter whether it's defense or nondefense spending. we got to pay for that which we're spending and you can't go to war and say to the american people, go shopping. you've got to begin paying the cost which includes defense. liz: here's what they said, listen to the sound and continue the conversation. >> how is it conservative to add a trillion dollars in military expenditures? you cannot be a conservative if you're going to keep promoting new programs that you're not going to pay for. >> let me respond. >> quickly, senator. >> we can't have an economy if we're not safe. there are radical jihadists in the middle east beheading
3:12 pm
people and crucifying christians, a radical shia cleric in iran trying to get nuclear weapons. the china taking over the south china sea. i believe the world is safer -- i don't believe, i know the world is a safer and better place when america is the strongest military power in the world. [ applause ] >> senator dorgan, he may be right, but back to the how do we pay for it if all of the gentlemen and carly fiorina are racing to the revenue, saying cut, cut, cut and a lot of giveaways when it comes to tax cuts. >> no disagreement about wanting the country to be strong and invest in the military that allows us to be strong. let me say as an observer, some of the most significant waste i've seen in government exists in the pentagon. every single branch of the service wants to do what every other branch does and duplicate it four times. unbelievable. make significant investments in defense that make the country stronger but doesn't waste the taxpayers' money. liz: have to leave it there. >> liz? liz: go ahead, quickly.
3:13 pm
want to go back to prior points. >> should the folks be attacking each other? i thought jeb bush got it right, he addressed the record of obama, and addressed the record of hillary clinton, and that's where our focus should be, quite honestly, that's what the republican party should be standing up and talk about the difference where, we should be talking about differences. i thought his presentation was right on, on that issue. liz: he showed a certain grace and a little humor last night. it's great to have you both. got to have a little humor. you want to be likable. like you, too. judd gregg and byron dorgan, thank you very much. much more of the debate on fox business network. lou dobbs is back from milwaukee. he has an extended two hour version of "lou dobbs tonight." i don't know if you got to watch last night. it was killer! it was fabulous. rated unbelievably. 7:00 to 9:00 p.m. eastern. do not miz it. lou is followed by the season 2 premiere of "strange inheritance." jamie colby has stories of
3:14 pm
unique treasures the dearly departed left behind. 9:00 p.m. eastern. jamie is going to join us for a live inside look at one of the most dramatic stories of all her efforts in a few minutes. closing bell 47 minutes away. senator rand paul did attack president obamas on so-called all of the above energy plan in last night's debate, while others dodged the energy question altogether because, listen, oil prices are so unbelievably low, you're seeing a lot of job cuts in the field. phil flynn tells us what he wishes he heard from the candidates on oil, gas and alternative fuels. that's next on "countdown." >> you're lucky in ohio that you struck oil. that's for one thing. we live in a pick and choose world.
3:15 pm
love or like? naughty or nice? calm or bright? but at bedtime ...why settle for this? enter sleep number. don't miss the semiannual sale going on now! sleepiq technology tells you how you slept and what adjustments you can make.
3:16 pm
she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! gift the best sleep only at a sleep number store. save $500 on the veteran's day special edition mattress with sleepiq technology, plus 36- month special financing. hurry, ends wednesday! know better sleep with sleep number.
3:17 pm
perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at
3:18 pm
switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. . liz: 42 minutes before the closing bell rings. we are off the lows of the session, but a little indecisive light-volume day due to the veterans day holiday. the stock market is open and moving lower at the moment. cheers! investors are toasting the merger of abm inbev and sabmiller up 2%, inbev up nearly 3%. this deal is a massive one, combines the two biggest brewers creating a gigantic company making a third of the world's beer.
3:19 pm
how's this for a single day of sales. one company, qvc eat your heart out. alibaba rang up a blockbuster 14.3 billion dollars in sales during what it created. it created its own holiday. they call it singles day, and get people to buy themselves presents. whatever. alibaba is moving down 2%. it's what have you done for me lately. but one billion of those sales came within the first 8 minutes. that's a lot of stuff to move. hate to see the shipping. can you imagine that nightmare. oil prices, look at this. breaking news, just a few minutes ago, they went below $43 a barrel in the after-market. right now $43 and 3 pennies. why is it falling? fears we'll see a weekly build, which we did, inventory numbers today, much bigger than expected billed, energy prices have remained subdued in the u.s. hundreds of thousands of jobs have been cut, and that's
3:20 pm
worldwide, in just the last year. so why wasn't energy perhaps a bigger discussion at the debate last night? well, it was brought up. candidates didn't seem to want to answer the question. joining me one of our favorite guys from the world of oil and energy at cme, phil flynn of the price futures group. phil, thank you for joining us. you were watching with bated breath to see if your world would be brought into this. >> i was. and, you know, i really wish we would have got more into it. i think when it comes to energy, liz, as you know, that's one of the issues that separates the candidates, and i think you're absolutely right. the reason politicians wanted to put it on the back burner, constituents are happy with where gasoline prices are right now, and projections of lower energy prices, it's on the back burner. it needs to brought to the front. when you talk about jobs, you talk about the national security of the country, it comes back to energy, and i hope they comment on it more. liz: the national security? i get that you mean if we don't
3:21 pm
have to import from countries that absolutely hate us, that's important. but look it's a boom and bust cycle, have you talked about this with me before. let's listen to what rand paul said when the subject of energy came up. here we go. >> the first thing i would do as president is repeal the regulations that are hampering our energy that the president has put in place. including the clean power act. what we really need is somebody understand thats thawe do need energy of all forms. and that means we will have solar and wind and hydro, but we will still have coal, and we still will have natural gas. and we've got to have an all of the above policy, want to free up the energy sector and let people produce, drill, let them explore. liz: hampering? phil, we are closer to being energy independent than we ever have been, and before the time track of 2020 which president obama had said was the goal. >> well, i know, but not
3:22 pm
because of him, in spite of him. in fact if anything, president obama in his policies has slowed our march towards energy independence. talk about killing the keystone pipeline. let's talk about this clean power act that costs the country maybe as much as one study says $292 million, raise energy prices in 47 different states, and refusing to lift our oil export ban. he's negotiating with iran to allow them to export more oil, but telling our energy producers here at home, you better hold back, we don't want to produce more oil. this comes as opec countries are dumping cheap oil in this country trying to put our producers out of business. i think it's about time somebody stands up for the u.s. energy producer. liz: well, again, it's a fine lines, you've got to walk because the consumer loves it. low oil, low gasoline. thank you, phil. >> they love jobs too, liz, tell you that. liz: tell us what questions you
3:23 pm
still have for the 2016 presidential candidates, because i'm pretty sure that we'll get another debate in the future. that's how successful our team with the "wall street journal," fox business, it was such a great marriage made in heaven, guess what, your voice can be heard -- closing bell, we're about 36 minutes away. most critics are saying today that the republican presidential candidates did a fairly good job in laying out economic ideas last night, but what are the voters saying? you guys are the ones who matter the most, right? that's why we sent our guy jeff flock to talk to them in chicago. what are you hearing? >> reporter: at the ihop in chicago, it's veterans day, and they're giving away red, white, and blue pancakes to veterans and any active military. we're talking to those folks today about the debate last night. when we come back, we'll tell you what they have to say live.
3:24 pm
stay tuned. jeb bush: leadership means you've got to be all in.
3:25 pm
3:26 pm
it's not about yappin'. it's not about talking. it's about doing. i know how to do this because i was privileged to serve in florida for eight years. and we turned the systems upside down that weren't working. 1.3 million new jobs were created. we cut taxes every year. income rose in people's pockets. people were lifted out of poverty. children started to learn. as president of the united states, i pledge to you that
3:27 pm
i will solve problems. announcer: right to rise usa is responsible for the content of this message. one of the country's biggesties financial services firms? or 13,000 financial advisors who say thank you? it's why edward jones is the big company that doesn't act that way.
3:28 pm
. liz: president obama honoring america's war heroes today at arlington national cemetery. laying a wreath at the tomb of the unknowns soldier on this veterans day. the president noted that veterans have had difficulty accessing health care through the department of veterans affairs. he said improvements are taking place, but that he is not satisfied yet. let me just say on behalf of the entire "countdown" team, we really do care so much, and we want to thank all of america's veterans for your service on this veterans day, and from a personal standpoint, you guys
3:29 pm
know i have done a lot of work for buildinghomesforheroes.org, and so many of you have sent donations everything from $5 to $500, i cannot thank you enough. we have built custom mortgage free homes for most severely wounded soldiers and so much of the thanks goes to you. today is the day, the day after the fox business "wall street journal" presidential debate. jeff flock is talking to veterans and voters at the international house of pancakes restaurant in chicago. free breakfast for the veterans, but what they thought about the candidates last night, jeff? >> reporter: interesting to talk to people. i hate to repeat something that perhaps has been said a few times already, but people impressed by the tenor of the debate. this young lady said people argue too much in the debates and last night they said, you know, we actually heard some answers out there. talking to this fellow down here whose first election was 1964, voted for barry goldwater
3:30 pm
back then, and i tell you, you don't see any barry goldwaters in this pack. >> no, that's for sure, even back then. >> reporter: what did you think of the debate last night? >> i thought it was more substantive, the questions were more relevant than the last debates. i think they handled it pretty well. i don't like the split though between the two, the early debate and the second debate. >> reporter: you'd like to have them altogether? >> there were too many. they could have put them all on the stage last night, because they only had four and eight. >> reporter: you got a favorite among any of them? >> no, not yet. neither side. neither on the republican side nor the democrat. >> reporter: you've only got a year to figure it out. >> i'm not in a rush. >> reporter: appreciate it, let you get back to the pancakes. i leave you with a picture of the international house of pancakes, today they're giving
3:31 pm
away a stack of pancakes, red, white, and blue pancakes to veteran or active duty military. we've been thanking them for their service and for watching the debate. a way we can all serve a little bit. liz: i thank ihop for doing it, love the pancakes you showed earlier, yeah, the red, white, and blue. i like the way the gentleman just spoke, it is extraordinarily early, and there are voters who are still shopping, right? you had that quote yesterday, i'm still shopping. >> you said it. >> i think that's fascinating. thank you so much, jeff flock. if you're a veteran, go to ihop, free pancakes today. the least anybody could do. closing bell 29 minutes away. the dow is inching closely back to the flatline. we're down 30 points for the dow. republican party's presidential hopefuls back out on the campaign trail. no rest for the weary, looking to capitalize on whatever momentum they could catch.
3:32 pm
the wave they could catch from last night's big debate. carl cameron is hot on their trail, live in new hampshire where donald trump and senator cruz are stumping today. and from cyberattacks to trade, china was one of the big hot button and stumble issues of last night's gop showdown. so we thought bring in the expert. he is former china ambassador and utah governor, republican jon huntsman, who ran for president himself. he's joining me live in studio to weigh in on the china war of words and where the substance should really be focused? we live in a world of mobile technology,
3:33 pm
but it is not the device that is mobile, it is you. it's more than a nit's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support.
3:34 pm
with centurylink as your trusted technology partner, you're free to focus on growing your business. centurylink. your link to what's next. it begins from the the second we're born.er. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healthier we're here to make healthier happen.
3:35 pm
3:36 pm
. liz: 24 minutes before the closing bell rings, we're looking at a market that can't move higher right now, but the losses are nothing too dramatic. we had the stretch of six weeks
3:37 pm
the markets continued to move higher. the dow jones industrials down 42, the nasdaq down about 10. it was flat to the upside earlier. let's bring in apple. maybe apple is the culprit. the breaking news we're getting, apple is launching a mobile person to person payment service. what is that? it would be a rival if you heard of paypal's venmow platform, the details are in flux, it could launch in 2016. keep in mind, square, jack dorsey of twitter is launching square, doing the ipo for that. that's a mobile payment system. maybe apple trying to squeeze in under the line here to steal thunder from square. a big day for apple fans, ipad pro going on sale today. features a larger screen thanna previous models and the first ipad apple designed a stylus accessory called pencil, which steve jobs said he'd never do but tim cook did it. shares down a quarter of a percent.
3:38 pm
apple flat right now. not helping the major indices. the battlefield moves from milwaukee to first in the nation primary state of new hampshire. who rushed there from the debate in milwaukee? donald trump stopped by, ted cruz is set for a christthis evening. who has the most ground to make up in the granite state? donald trump is doing well, he leads with 27%, but the race is tightening, ben carson number two with 15% on the democratic side bernie sanders takes the lead for the dems with 44%, that's just above hillary clinton's 42%. so let's bring in the guy with the eye, fox news's chief political correspondent carl cameron. you are right hot on their trail in manchester, new hampshire, donald trump stopped by this morning. why? >> they all had the debate last night. some of the candidates have gone to iowa. one going to south carolina. ben carson was at liberty university today, and as you say, there's going to be a whole pack of them for the
3:39 pm
remainder of the week. the filing closes friday. those that didn't come in the last week or last couple of days have to make it if they want to get on in new hampshire. they didn't want to be constantly interrupted, they didn't want biased liberal questions or "gotcha" questions, they all say they're pleased by what went on. in trump's case, he put in a reasonable performance, not one of his best but made it clear he's delighted at the outcome because there were fewer candidates on the roster. >> we started out with 17 and one by one by one they're disappearing. disappearing. it's a beautiful thing to watch as they go out. i love it. every day another one goes out. >> reporter: if trump seemed a little slow this morning, he only got about 90 minutes of sleep. he left milwaukee midnight and up and working at 8:00 here. ben carson had a good night.
3:40 pm
he got a lot of attention, lot of incoming flack in the last debate and since donald trump was raising questions about the honesty of his book and that nature. no one laid a glove on him. he had an opportunity to talk at great length. he spearheaded this meeting trying to get reforms made in the debate format. they didn't apply to fbn, but it was clear the candidates liked it. here's how ben carson put it. >> i thought it was excellent. it was not about the moderators, it was actually about the candidates and i hope it will set a new standard and we actually dealt with substantive issues that are important to the people, not little gotcha stuff, not trying to create conflicts between people, and it makes me believe that maybe there is a level of maturity that is returning to our country that's refreshing. >> reporter: might be quaint idealism, the truth of the matter is the sniping and the name calling comes from the
3:41 pm
campaigns themselves, and the reporters are just repeating it. the next debate isn't for another five weeks, so the candidates either have to start advertising or pounding the pavement a heck of a lot harder, liz? liz: we deal in facts here, we should mention that donald trump said one drops every single day. only two have dropped out since the beginning, rick perry and scott walker. the rest are hanging in at the moment, carl. >> reporter: and mr. trump gets latitude with the preciseness of his facts. that might be an example of it. you know the other part of what happened last night is jeb bush didn't fall further. it's being widely accepted he did well enough to keep going and continue his fix-it tour. there were a lot of people that had him on a death watch. and the other thing is the race beeen ted cruz and marco rubio. mr. cruz will be here tonight. planning a meeting at the vfw, of course today being veterans
3:42 pm
day, there's much more battling to come before the next debate. liz: carl cameron, thank you very much. and guess what? holding people's feet to the fire, we didn't have to do that, in fact other candidates did it, one point that may be a weak spot for a lot of the candidates, except rand paul, the landmark trade deal, the tpp that was signed. it brings together 12 nations including the u.s. and canada but represent 40% of global gdp. china is not one of them but that's a fact that may have escaped donald trump. listen to what happened. >> the tpp is a horrible deal. it's a deal that was designed for china to come in, as they always do, through the back door and totally take advantage of everyone. >> we might want to point out china is not part of this deal. there's an argument china doesn't like the deal. doing the deal will be trading with competitor. china is beating the daylights out of us, they can build stuff we can't because they're not taxing it.
3:43 pm
chinese don't take us seriously why, should they? why should they? they hacked into the american government's personnel file and took millions of records, and cyber warfare against this country. i'm one of the victims. they're building the artificial isles in the south china sea and other president up until recently wouldn't sail a ship within 12 miles or fly a plane over it. the first thing i'll do to the chinese, i'll fly air force one over the islands. they'll know we mean business. liz: here with us is former u.s. ambassador to china and former utah governor jon huntsman. >> thank you, liz. liz: a lot of strong statements certainly. start tackling the tpp, china dislikes it because competitors compete in the greater bloc of trade. should they have read it and know which countries are in it? >> that's always a good thing,
3:44 pm
there's a lot of good information floating around tpp, as a former trade negotiator, i can tell you it will come together in pieces and every trade negotiation is a train wreck, it's a mess and you've got to get all the capitals of the tpp to get back to respective legislatures and parliaments and agree to the contents, same thing in the united states. same time next year diversion is going to be together and will be an up-or-down vote. >> the tone was china, devil, u.s. angel, what have you. is china the devil that it is made out to be? you've been there on the ground, you speak mandarin, have you dealt with the people and negotiated with them. what should our relationship be? >> i have for 35 years and part of managing the relationship. it was surreal going from managing the relationship to the presidential debate stage where the pandering, of course, is the most prominent feature of the u.s./china relationship. it's not different than that.
3:45 pm
you're not going to get a candidate who's going to talk about what do with china. the talk is about what to do to china that gets good applause lines, come across as tough, and i would advise any candidate to do anything with that. but you have to instruct the american people on the most important relationship of the 21st century, beyond just sound bites and rhetoric to how we're going to engage them economically and in terms of regional security and third world conflict resolutions. liz: i agree with you except we have actual data from cybersecurity firms that show some of the cyberhacking comes directly from chinese government buildings. >> no question about it. liz: how can you square with that? >> admiral denny blair and we concluded that china is 70% of the problem. $300 billion in costs per year. that's where you would like to see the debate go. go from the sound bites to the fixes and how we can come up
3:46 pm
with policy solutions to deal with it. our market is the most important thing to china. block access to the market, use provisions of the trade law on their imported goods when they have any kind of tie to ripping off intellectual property. that's an attention getter. liz: then they will break. >> that's right. i'd go back on tpp and say the chinese fear tpp because it brings us together with the trading partners of the asia-pacific region and the one thing china respects is economic strength. what the arrangement does with 40% of the world's gdp is bolsters our ability with renewed standards, lowering barriers to trade and invest more with a lot of the countries they'd like to be doing it with. liz: you would have made a great president. we skied together, our families. >> short-term, look at the market. liz: dow down 37 points, but it's great to have you. governor jon huntsman, former ambassador to china. pleasure to have you, please come back.
3:47 pm
and much more on the 2016 race tomorrow, "mornings with maria," donald trump will be maria's guest. 7:00 a.m. eastern. do not miss it. maybe she'll push him more on tpp and other. it's not over yet. we got a year before this election. we're coming right back. don't go away. you both have a
3:48 pm
3:49 pm
perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at
3:50 pm
switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance.
3:51 pm
. >> what a collection! ♪ >> imagine a small country could win a war with these? [ laughter ]. liz: yeah, they didn't inherit money, they got tanks! "strange inheritance," jamie colby, premiere at 9:00 p.m. the second season. whoa!
3:52 pm
how many tanks did this family inherit? >> 220, they had to have the tread realigned when i was done driving. it was a lot harder. it was on my bucket list. i rappelled out of helicopters and seen the inside of an apache. we took the gopro inside so you get a great view. liz: all about what people inherit and how they deal with it, others say wait a minute, this is a value that's emotional, not hard currency. >> listen to this, the woman who inherited george washington's wallet isn't related to george washington, isn't necessarily an historian but could get $100,000 we found out because we had it appraised and authenticated and could improve her life substantially. she goes to the senior center, doesn't live at senior center but she's a vip, but she won't sell, liz, it could improve her life and buy her a new condo in florida, she won't sell, it means that much to be the
3:53 pm
family that's been the custodian all these years. liz: that's important, george washington our first veteran. >> he was. we're having four episodes and i have a guy who inherited a goldmine. he had no idea until we tested the gold in the abandoned mine and found out it is worth a goldmine. liz: can't wait! >> four episodes, 9:00 to 11:00. liz: you're a star. >> thank you. liz: tune into season 2 on the fox business network. we'll be right back. s&p still down about five points.
3:54 pm
. .
3:55 pm
3:56 pm
opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. liz, well the day after that debate. breaking news. billionaire charles koch has no plans to back any republican presidential candidate just yet. of course the koch brothers, billionaires, conservative, what they think and what they do matters to a lot of people. we'll be watching to see if that tone changes. okay, back to the debate.
3:57 pm
what does the c-suite think of candidates performance last night? we have stieffel financial chairman. ron, i want to begin with sound bites that happened last night, the big question neil cavuto had, would you bail out banks the likes of 2009. here is sound from candidates. >> would you bail out the big banks again. nobody gave you an answer. i will give you a an ends. absolutely not. >> are you saying sir, if a bank of america were on the brink, you would let it fail? >> yes. >> people who put their life savings in there, you have to deal wit it. you can't turn a blind eye to it. liz: nobody kind of got the facts right on this. ted cruz was giving his put gut feeling and that's fine. you're shaking your head, ron. what is going on here? >> i think it plays well with things.
3:58 pm
the is populace thing. banks so much stronger, so much well-capitalized i don't believe that is really an issue today. i think that there has been, again so much, amount of capital and everything, the banks are much stronger. it plays well in debates but not really an issue now, in my opinion. liz: part of the reason banks are taking fewer risks because of dodd-frank, in particular, regulations that were put into place. a lot of these candidates are saying, get rid of it, get get rid of it. roll it back. can you? >> i will answer it a different way. the question is can you make the banks too safe? if you make them too safe that will inhibit economic growth. you have to have some risk in the system. so, you know, we have to be careful that regulation doesn't go too far and i think we are at a risk for that but engen, this concept of, concept of he
3:59 pm
bailing out plays well at debates. liz: rate hikes, janet yellen came up. you as financial largess individual, do you think rate hikes, how will that fit? >> liz, back when it didn't come up i said it shouldn't for reasons that are reversed. real quick. we have full stock market recover rid. have budget deal. 30 billion more of stimulus. new speaker of the house. takes away uncertainty. unemployment report last friday, employment report better stated. international situation is much better. gdp numbers while apparently weak are stronger numbers. we'll have a rate increase in doze. good to get that off the discussion. we'll talk about when the rate increase will be. liz: we have to talk about the closing bell. ron, thank you so much. that will do it for county down. i head to -- countdown.
4:00 pm
i head it to david and medical list. david: thank you, liz. why the fox business was great were issues that affect your lives and were front and center. we have karl rove and our own bret baier. melissa: on this veterans day we're taking a look at the crisis at the va we're now learning nearly $150 million was paid out in bonuses there amid all the scandals. david: some of the people that got the money deserved it the very least. [closing bell rings] we get to the stocks, slide the close on wall street. we see all red as a kay -- day. goldenedded bad but this lowest level in gold we've seen more than five years. bad day for the gold bugs. melissa: wow. while markets

35 Views

info Stream Only

Uploaded by TV Archive on