tv Wall Street Week FOX Business March 19, 2016 9:30am-10:01am EDT
monday, have a great week, good night from new york. ♪ >> this show has never been about investments we have talked about anything that affected people and their money. from fox business headquarters, new york city, the new "wall street week." >> welcome, our new home on fox business network i am anthony scaramucci with maria bartiromo, host with mornings with maria. >> great to be with you, we're thrilled that you and "wall street week" are here at fox
business network, an iconic program. >> let's get to business, general david petraeus former director of cia, he is a retired four-star army general, one time lead u.s. central command he serves at kkr global institute chairman. welcome general petraeus, a delight to have you on the show, our first show, on the old program you are the highest rated 57. >person. >> great to be with you again thank you. anthony: are americans safer today than they were two years ago? or 15 years ago. >> i think you know it has been up and down, americans are safe. but i think that the threats are more complex than arguably more numerous than they have been in the past, if you talk to law enforcement professionals, those in the intelligence business, they feel they have insight they generally need to prevent
attacks, they are doing a great deal of, that much without ever surfacing. seeing daylight if you will. but they feel also a little bit on edge. they feel worried, they might miss something, they are concern about the possibility of so-called lone wolf attack. the individual who self-radicalizes after reading somebody in social media from the islamic state. they are worried about that. they are working very hard to ensure that, they can identify, then preempt attacks before they take place. anthony: there is a tension right now between civil likeries and need to look -- civil liber liberties and meed to look at the phones and decrypt them. >> there is a tension between privacy rights, and really rights of technologists, to make machines that people will buy. then on the other hand,
legitimate need to law enforcement and intelligence agencies to be able to get information from the devices. this is being played out in a very public and big way right now. if you ask me, do i want our government to have the ability to decrypt what someone has to the phone, i would say yes. do i want apple to make a backdoor to enable that? i would say no. like mike haden, i don't think that apple should be compelled to make a backdoor that would make entire technology so much more unsafe. anthony: on a case by case basis, you say we need access. like a search and seizure, in fourth amendment bill of rights thing. >> i do, but we have to figure out the mechanism, i don't think it can be where there is a universal backdoor that is there, there is no question, those who wish us will, will
-- who wish us ill will find that and use it for criminal purposes. maria: on one hand you want to be able to get that information from the phone, but is apple being asked to create software that will make everyone vulnerable? >> that is the question, i think along with mike haden and others who have been surprisingly, i think, resist ant to the notion they should become pehled to create -- campbelled to create software that penetrates their own question -- own system, i have questions about that, this is say international issue not just about u.s., where we generally trust our government . to make use of what it has. what happens when china goes to apple. and russia? who might go after someone, again in human rights realm. so, that is the issue. a very significant one, i have sometimes wondered if it might
not have been better, if there was a quiet conversation with apple, they said this is a serious issue, privately, you can help us find what is in this phone? maria: this international issue is so important, you saw in argentina a person put in jail in brazil. the head of facebook there. could it be that has not come up in china. could apple really be operating in china without giving chinese government access? >> i think to date, again we'll see what they might be willing to reveal. certainly, over the course of the last decade or more, as the mobile systems in particular, have mull flied so much, there has been a supportive approach. that was my experience in my last government job. the problem has been, the snowden affair, has cost firms like google, tens of billions of dollars, threatened main others.
and so there is a reservation now that did not exist before, there is a concern that was not present before. and you can see this sort of ebbing and flowing back and fort. anthony: all -- talk about al qaeda and isis for a 6, this is helping us put down some terrorist uprising. >> yes, absolutely. you know i want our government to have the ability to get insights, in to any kind of system that is out there. i don't necessarily want our government to confess it tote world. we have -- conget it to the world, we have capabilities, we should use them. >> you dish usually in accordance with the law. but, we have to have those to identify would be attackers, would be plotted, 9/11s of the future. anthony: we have to adapt to new world. it is good for business too.
maria: much more with general petraeus thank you. anthony: hillary clinton security breach is being handled different 3 from others, that is up next, "wall street week" will be right back. [engines revving] you can't have a hero, if you don't have a villain. the world needs villains [tires screeching] and villains need cars. ♪
maria: welcome back to "wall street week" we continue now with general petraeus. anthony: a fascinating election season, what is your opinion about the way that things are going in this election cycle with the republican frontrunner. >> what you really have to take from this. that the front-runner in this case, and also the number two, on the democratic side, has really tapped into something that is very different. there is a sense out there among a sizeable part of u.s.
citizenry that unlike every other generation before, they might not actually be able to provide a better future for their children, than they have had. this is astonishing in some respects. just sheer numbers, 4.9% unemployment rate, and percentage of those employed, that were off out of the market coming back in, is gradually easing up. gdp growth is 2.5%, and china is slowing down the rest of the world is experiencing a bumpy ride. >> a little bit of rage growth. >> a bit of wage growth, but that is really the issue. there has not been real wage growth for a substantial number of americans, donald trump has tapped into this. bernie sanders was into it as well. we have to recognize that.
this makes this situation different. the american public is not satisfied with politics as usual, and not satisfied with politicians. maria: a letter that foreign experts policy wrote, they are worried that donald trump does not have foreign policy advisor leadership this country needs. anthony: if he could get the right advisors, could that work. >> again, i hope he would, it is all well and good to say you consult with yourself, i would like to know at some point, who are the individuals on whom he will rely. even in the past they have been strong, say in foreign policy, richard nixon for example, he had a sense to hire dr. kissinger. anthony: you think that the community would rally around a republican nominee, if it was a nonestablishment person like candidate trump? >> i don't know it rally would
be the right word. i think that people feel a responsible to help whoever might -- responsibility to help whoever meeting president of u.s. i am one that believes that no one of us is smarter than all of us together. looking for a thoughtful, pragmatic prudence leadership. maria: you know, as we move closer to the election, the mudslinging will begin, donald trump has said many times, that what hillary clinton did, by installing a personal server in her home while secretary of state is far worse than what you did. i want to say have you been a real gentleman about this subject, have you not discussed it or said anything about this. i want to ask, do you think hillary clinton is being treated differently from you? >> she is being treated fairly. and i think that you know there are people, critics who claim otherwise. there are supporters that
claim otherwise, both sides are given fantastic alarcon spare rasy theories issue the debate, and treatment has been fair, i think that we'll see how this plays out. lou: the. maria: are we going to see it ramp up into the election? do we hear from jim comey, talk of an indictment? >> that is a good question really for the attorney general, rather than head of investigation. anthony: i have learned from you, there is a process in place, the government itself, sort of subordinates of the law is that true? >> very much so. a strength of our system, we're all equal before the law. anthony: i had lunch with justice scalia just once in my life. he were talking about the construct. he said, anthony everyone has flowery -- do you think that is true.
>> i do. maria: we have this whole debate about the naming of the next person for justice scalia's seat. how does it feel to you in terms of the two-sides not able to get together. it feels like this is getting in the way, and has been, to getting things done. >> it has very much so. this is why highlighted earlier that fact that this election seems to show that politics as usual, that has been quite disfunctional, with exception of last year, you have to give credit to congress passing trade promotion authority for the president, and omnibus bill. and funded budget for two years, last year there was an example of what right looks like. but now we're back to neither side will budge. is this really the case that we just sort of us is spend the -- suspend the responsibilities for next 9 months?
so, it is going to be very interesting. the nomination of judge garl and is one that is not you know, a hard left or a pandering to the liberal wing if you will of the president's open party, this is a centrist, an individual with an established track record, that will be a very interest debate. anthony: do you think this could perhaps tip it, we break partisan strug -- struggle in washington. hor dwash. or do i think we'll still be at las vegasse laggerheads. >> if not you will see establishment out flanks again and again. until i think it realized what american people want is folk us who will do deals, get something done for the country, and make a difference for those who feel they are being left behind. anthony: you are in privacy sector, sir. you have to adapt to new
business environment. do you think your politicians are aat that pointin afast enough. >> the voters are saying no. maria: one issue is trade. you think trade and immigration is ripping the republican party apart, let's talk about trade authority. you did a deep report on the north america trade agreement. that we were not actually getting what we should have gotten out of that. we continue to -- >> to the contrary, i think that north american free trade agreement now 21 years, has had winners and losers. but net effect, for all three countries has been very positive. maria: but we should capitalize on it more. >> we should be capitalizing on it more without question. canada and mexico are two of our top three trading
partners, there are huge strengths, mexico is risen in the ranks of car exporters, every car made there is 40 percent u.s. content that shows that aim of integration of our three economies, a market size of 500 million nearly people. we have descent demographics, shared values, no threats. no ethnic sectarian default lines or divides. i have said what has come after american century, assuming last century was described as was. is not the chinese century or asia know, it is actually the north american decades, the number of decades will be determined by how well washington turns what are headwinds into tailwinds. like education reform, and so for. anthony: so well said, not in the campaign rhetoric right
now, but we need to integration, it does lower prices and improve the lives of great many people. maria: so what about this wall that trump is talking about? >> i think that this is elect rhetoric, i think that net flow of people in each of last two years has been to mexico rather than from mexico. i was just in mexico, i heard that perhaps we should be paying for the wall. anthony: coming up, collapse in oil prices is good news when you fill your car. what does it mean for the world, are we less secure, and more open to global threats? that is next.
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anthony: welcome back to "wall street week," we're talking with former cia director, general david petraeus. talking security, has collapse in oil market made the world more unstable? >> it has created some complexities, it is good for us. we have a 5 million note that we're importing every day, this is good for our balance of payments. it is good overall for the united states if you are a country however that is a net exporte, like a gulf state, russia, venezuela, then, a huge blow. this is a big challenge for example for our partners in the iraqi government. they used to have $110 per barrel price now it is 40ish.
this is a big challenge for them. running bigger deficits, each of the gulf states has recognized it has to take serious measures to reduce their own fiscal -- >> in your opinion, does it make some of those more unstable? >> i don't know that stability is the issue. there is no question they have to carry out economic reforms, they have to start charging people more for gasoline, electricity there in the country, and value added taxes, other ways of generating revenue in the past they did not with bo either to do, because they -- wh bother to do because they had such huge surpluses, that is not the case now. they have to expand beyond just exporting oil and gas. maria: this seems, this would have huge geopolitical
implications, like our allies, what are those? >> our europe ra european allies who benefit by and large -- second ep except norway. anthony: does our military footprint change. >> probably save a couple billion for our fuel for air force and navy. there is no question about pressure this puts on putin and russia. we're not just exploding in terms of producing crude oil, we're the number one natural gas producer in the world. andy have just began to export that. crude oil ban was lifted but really was waiting on -- >> liquid and natural gas. >> waiting to do the natural
gas in liquid. with our price below 2 million btu, add 5 dollars, it still, below price that russia is selling gas to europe. so it is a huge boone for europe, injects a great deal of competition into a market that was almost monopolistic in the power that russia had over it. maria: they do airstrikes in syria, then putin decides when he will pull out and stop. >> he is withdrawing not pulling out, much of what he withdraws is easily reinserted. if bashar is threatened by forces on the ground. he will use those still to support bashar, and continue offenses against in some cases those we're supporting.
lou dobbs. the gop establishment tonight is playing a very dangerous game as they have made stopping donald trump the number one priority of their party. these are the same gop elites who have screwed up and lost two presidential elections in a row and today a secretive group of republican operatives and conservative leaders met for some five hours in washington. they were there talking about ways to deny voters who want donald trump to be the nominee. this group of conservatives led by red state founder erick erickson found a bit like an ideological