tv Cavuto Coast to Coast FOX Business June 22, 2016 12:00pm-2:01pm EDT
degree. glad you're tuning in with us now. we will give it to connell mcshane. he will take it from here. >> thank you, charles. here we go. for the next couple of hours i'm connell mcshane filling in today for neil cavuto. the gloves are off. see what we did. no punches at all. >> may be the most corrupt person of her to seek the presidency of the united states. >> every day we see how reckless and careless trump is. he is proud of it. >> if she ever became president god help us. they all seem to be end of chapter 11. >> her campaign slogan of time
with her. i am with you the american people. [cheers and applause]connell: your presidential race donald trump aiming to shut down hillary clinton's attack on him on the economy both sides they will destroy the economy. both sides just getting started. so are we today with gene allowed in and emily both joining us on this debate. we are going to talk about all facets of the trumps page and even the hillary clinton's speech. especially on these portions of his speech where he went after pretty hard in the economic plans. >> i thought he was strong. i thought it was consistent. i thought his points were valid. he really laid out the argument why did this is a great thing. he starts in a position, let's not forget where americans overwhelmingly trust in our with the economy than they do
hillary. he absolutely had it out of the park today. connell: but specifically stood out to you about the trade stuff or some other things he said. >> there was nothing he said that i thought was particularly weak or anything like that. i thought he had the points i wanted him to head any hit them hard. he made the point so clearly if we can't trust her with some in a simple as e-mail how in the world are we going to trust her with something as complex as an economy. it's a great point. connell: amalie give us the other side of it. as gina said, he made the points he wanted to make your direct from the teleprompter and have a lot more detail than we are used to because he went through piece by cease citing the book, clayton cashin what's out there. what was your take on it? >> i thought trump delivered on what people wanted to see from him. a lot of people on the fence.
a lot of traditionally voted republican to understand his temperament, policy are not real. these are things that would not leave the country and a good direction. you don't know what he would do. business history shows it's all about self-healing as opposed to making the situation stronger. a lot of people looking to get off the sidelines can he be a serious candidate at all? does he have anything more to say? connell: nothing that proves it. >> i think that he for the first time showed that he has potential to be more than e-mails. that's all he's been up until this point. for a lot of people he delivered on what they're looking for. as you mentioned, it was scripted clearly were hers. is that really hand and will that actually keep his face voters together which is a real question. traitor in fairness scripted speeches don't disqualify someone from an imprisonment. in fact we see far more dead
than we have this time around. let's take on economics for a minute here because trump talked a lot about trade here that has been his signature issue. he cited lincoln washington. his comments sounded a lot to the business community as protectionist, that he wants -- to make sure that we don't do these as don't do these as he calls them horrible trade deals. at the same time they sound like anti-trade comment. why should they be? >> they shouldn't be because i don't think mr. trump has in mind. any motivation to do anything. he's made it clear his number one priority is going to be making america strong, economically strong. someone like hillary clinton to contract out with someone who says 15, 16 years ago out of the white house was flat broke and she pretty much goes to the highest bidder. connell: you keep saying over and over offering jobs back.
they will be high paying jobs. but how is he going to do that? do you have any idea? >> nobody asked them not before he founded 500 different companies. he's the only one in the race who has ever created. connell: is not going to hire people himself. connell: seriously he is >> pat on the high you think you can create private-sector jobs. >> these jobs overseas pay far less for a reason and standard of living is far lower. how is he going to bring them back? i don't know that we've ever gotten an answer to that. he just does bring the jobs back. >> we're far from getting an answer from him. his plans don't make any sense. it is protectionist, isolationist and not realistic about the global economy we are in right now which is why people who are traditional economic republican say it
doesn't make any sense to me. it is why they were looking for him to say something without looking for anything to hang their hat on because they've never voted democrat in their life. she has some real policy is and is realistic about a global economy and he's just using taglines. connell: to issue is politically later on. to that point this speaks to trade a lot. it was interesting that trump started making a pitch for the bernie sanders votes. remember they really started supporting sanders because of in some cases his trade policies. anti-trade is trump is. listen to this. >> the insiders wrote the rules of the game to keep themselves in power and in the money. that is why we are asking bernie sanders voters to join our movement so together we can fix the system for all americans so
important. true to gina what is interesting is bernie sanders is by his own account a democratic socialist. his approach of these problems would be far different if he agrees with trump. do you think any of these supporters will come over to trump? >> already pulled somewhere between a third in the fourth of them say they will support mr. shrum. i think it's because nobody ever says it's unrealistic when we talk about sending jobs overseas. when we talk about bringing jobs back from overseas all of a sudden it's unrealistic. i don't understand the connection there, the disconnect. connell: we just pay people more here. the standard of living is far higher here. just wondering how you will bring a job back with a $4000 a year job that would pay someone 50 or 60 grand a year and how you do that is the question. that's what the people look at.
>> if our economy were in a healthier position after eight years of obama and hillary messing things up if our economy was in a stronger position, we would be in a position to bring those jobs back and pay them well. when the union members start to understand that the union bosses are colluding with the government to send jobs overseas. then we'll be getting a lot more of a union type jobs that will be more in the private sector and be paid better as well. connell: any quick thoughts as to what you're worried about sanders supporters going over to trump. you think they'll happen? three mike sanders will do anything. his supporters could not be more idealistically different. they like the outsider and the outsider moments coming to a close. trump shows himself in a speech today. he's not running as the outsider anymore. he's the establishment. they were like in the primary process. he no longer exist. connell: more on all this coming
up. one other top story comes from overseas. the british vote is now just a day away. one thing we hear about today are banks in the u.k. stop piling their cash. you would think that is in case there is a run on banks. ashley webster in london with the latest. what can you tell us? >> yeah you are right. financial regulators in the u.k. talking to retail bank saying make sure you are prepared for what they call the worst-case scenario. a run on the banks. they say that if the u.k. votes to get out of the european union it could be the biggest financial shock in this country in decades. what are they being told to do? for one, make sure all the atms are stocks up with cash. also make sure the machines are working. does that mean we'll have a run on the banks? no. just trying to plan ahead if you like. george osborne, the treasury
secretary said yesterday morning his already been in contingency talks of the bank of england. again if there is a boat to get out of the e.u. are making men do suspend trading on the london stock exchange at least initially until things settle down. could be suspended for the day. all depends on the votes. i know you about this. in "the guardian" this morning an interview with a group from texas who said they are waiting for the outcome of the u.k. vote because of the u.k. gets out of the e.u. they will be inspired to begin their own affairs. next-line this made. connell: there are parallels. i don't know if that will happen. thank you ashley. ashley webster over there in london. let's go to the markets. one of the things we have seen this week in the overall
markets. a number of stocks running up in anticipation that great britain stays in a year that they vote that way. fbn a.m. post nicole petallides now. if it stands to gain the most or lose the most. >> every trader on wall street keeps a keen eye on the vote in the polls that have not proceeded. market gyrations because of it. every time you see a poll that favors staying in the eurozone use the markets moving to the upside. every time you see a poll that favors louvain to explain it better have talked to several in order to compile the list here for you into a better explanation of what we could see, anticipation of trading action. take a look at this board. if the vote now says that the u.k. should remain in the eurozone you'll see a risk appetite go higher, commodities higher such as oil banks and technology and airlines which breathe a sigh of relief. the high-yielding stocks are in the safe haven utility is unlikely to sell off.
if we were to leave if the u.k. votes to beat the eurozone the rich appetite of the markets without love. commodities likely to move lower. the bank's concerns about exposure, airline business travel, united, delta. people will be less likely to do business and you'll see them moving to the safe havens of anything that they yield bearing stock or bond in particular. let's also take a look at the exchange fund in the way is to have exposure to these particular set yours. right now today the energy exchange as to the downside while financial technology and gold are gaining. that's the action. currencies will come into play as well. last but not least the billionaire investor made plenty of money against the pound many years ago says that if the u.k. host the euro sometime you might see a fellow 15% 20% in a vendor to be with currently
trading at 146 today. connell: nicole thanks. here's a sentence i've never had to say on television or anywhere else before. there is a championship parade taking place in the city of cleveland. unfortunately, jr smith was unable to come up with a shirt to wear to the parade. this is their life work. good for cleveland. first professional sports championship in 52 years for their city. brother sent for the republican convention. for now they celebrate. lebron and jr and tightly than the rest of the cavaliers. the city of cleveland. the city of champions. good for them. now, back to donald trump in a moment. the story earlier in the week that you might remember this assassination thought that they foiled. trump responded to that in a fox business network interview.
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they are celebrating their first in over 54 years. was that lebron jr.? maybe. lebron and the cavaliers with the victory and they're celebrating it. and we'll dip into that. things are getting a little unsteady with the camera. look at the clouds. the british united kingdom not king james there at all. it is prince charlie gasparino on how they are preparing over there. the officials in london. i spoke to our league, sir webster about this a little while ago. the banks, i mean everybody is getting set. what are they bracing for charlie? >> they're british for my british accent. connell: oh, no, no. no. no. >> the germans they call them. remember that from inglorious bastards? that's my favorite line from that show. but i will say this. if you look at popular media
ivan watching a lot more than i ever have before. the -- most of the establishment politicians the dopey celebrities, they will tell you -- they will all four remain. you would think by having that much. i tell you i watch bvc today it looked like a commercial for the remain crowd against british exit, also known as brexit, so i think brexit has an uphill battle just from the amount of coverage and propaganda that is pushing voters to vote to remain in the eu. with that said, if there is a vote to exit, i'm going to tell you connell it's going to be just from several factors. including the surprise factor and the fact that markets hate surprises. i think it's pricing in right now a remain vote just from a surprise factor, i think the markets are going to trade off. don't believe me. here's one analyst. listen to what he had to say. >> it's been a possibility
that we see major developments if we were to leave. and in particular it's been hard to prepare the crowd with the impact of the brexit in terms of individual firms they have looked to increasing their capital reserves, and cutting back on their risk. it's been a very thin market in sterling from what was normally the case because there's no point in this in the vote. and in wake of that, you will see emergency plans. >> you got it right there. it's going to be a lot of trading, selling the pound. i'm sure there's algorithms created right now where there are stocks tied to the british economy that are probably going to sell off because the near term impact will be -- at least that's what everybody senior saying. near term, there's going to be a economy. long-term, i don't know how you give up your sovereignty to a lot of guys in brussels but i'm american. i would never agree to that. connell: thank you for that. charlie will be back.
>> they call them the bastards. connell: will be back here to talk on the fox business network between his viewing of the bc that he's been hard at work doing. i don't think it's something charlie said. but the market turned down a little bit. down 16, 17 points on the dow. nothing crazy. but he's right. pricing in the stay vote is really what's the big story this week. so if they did leave, have a surprise on your hands. we'll talk coming up about marco rubio. and much more who's going to run for reelection? that was the headline today. so we'll talk about that in a moment. took a shot at donald trump in his statements, which was interesting. more cavuto coast to coast after a quick break
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connell: welcome back to "cavuto: coast to coast" i'm connell mcshane and i'm filling in today for neil cavuto and we've been getting a number of people writing in people asking where neil has been lately, and we want to let everybody know that neil underwent open heart surgery on monday, yesterday. and monday this week. and we're very happy to say that the operation went well. and neil is recuperating right now, and we all wish him of course a speedy recovery and if we know neil; right? he'll be back here as soon as he can. but we all love neil and i want to pass that along. and we've been seeing your tweets and facebook posts and everything else.
neil is recuperating and you all and we all wish him the best. let's get back to our other big story today. watch this. >> hillary clinton has perfected the politics of personal profit and even theft. she ran the state department like her own personal hedge fund doing oppressive regimes and many others and really many many others in exchange for cash. connell: there you go. that's donald trump today. certainly hitting back at hillary clinton from her speech yesterday. but he is not really getting much help from some other republicans. if you think about the speaker of the house. paul ryan saying he won't be raising money for trump. instead he'll focus on republican races. and senator marco rubio today with interesting comments going to take a shot at trump while announcing his plan for reelection. this is a quote from marco rubio. the prospect of a trump presidency is also worrisome to me. he had just spoken about hillary clinton. his positions trump on many
key issues are still unknown and some of the statements especially women and minorities i find not just offensive but unacceptable. trump supporters scott brown joins us now. what do you make of all of this senator brown? and we knew about paul ryan and now rubio piling on today. >> well, first about neil the reason he had open heart surgery is because he's such an amazingly large heart. he's so big-hearted. i sent him a package today and i hope everyone else, you know puts him in their thoughts and prayers. with regard to marco marco is like a younger brother to me. i have a tremendous amount of respect for him. but with respect he's still a little sore from losing. obviously that was a bloodbath. it took a lot of pride for him to run, a lot of pride for him to step down and a lot of guts for him to come back. he's a hard, hard, hard worker and donald trump will use his guidance and listen to him. i don't put much stock into it. i'm ready to send him a checking, i hope everybody
else does too. connell: but this argument, senator. that was basically his -- the argument that he laid out for why he changed his mind. in other words, that he wasn't running and now he is going to run. he said, yeah, it's bad enough he could have hillary clinton for four years, which is another extension of obama. but it's also trouble if we have trump. i've got to keep an eye on them. that's what rubio is saying basically. >> well, first of all, he said he was never, ever ever going to run and now he's running so obviously he needs a reason to run. whatever the reason is, i don't care. i just want marco in the senate because i worked with him. i love him like a brother from another mother, and i wish him well. with regard to your -- with regard to your other question, your larger question about hey, what about all the other republicans, when are they going to step up? well there's still a little cording period, and i think you have until the convention. once the convention happens either these people like ryan or others are either in or out. >> but it's a money issue accelerate. scott senator brown how we
lost him. was it something i said? he froze up on us. oh man that's nice. there are other people you're interviewing you would hope that would happen but we were in the middle after i good conversation. i don't know what happened there. nicole petallides is unfrozen and she's joining us again today stress test tomorrow. let's talk about that and then get back to the politics. hey, nicole. >> hey, good morning or good afternoon, i should say connell. as we look at the banks we'll start off with the european banks because obviously all of the banks at home have been hit very hard. many are down 30, 40, 50%. today we start with the european banks. storage banks all those names are higher. but they will be front and center over the next several days into friday. then the u.s. banks here at home, goldman sachs jp morgan, and morgan stanley looking at these very closely and actually saying that jp morgan and goldman generate
7 million in the united kingdom. so they have more exposure, morgan stanley less, though, in that realm. if you want to pick banks that are separated in some ways from the united kingdom those names that will have more geographical diversity or more focus here on the states, that would be citigroup also northern trust just to name a few. but for the most part, banks are all higher. and everyone on wall street certainly seems to have the feeling that there will be somewhat of a relief rally if britain chooses to stay in the euro zone. but, again a very cautionary tone is now being taken. back to you. connell: thank you nicole. nicole petallides there at the stock exchange and speaking of thanks and the economy, did you know that believe janet yellen the chair of the federal reserve is testifying once again today and we have our best people watching, i can assure you. essentially so well, you don't have to. that's how we operate around here. but there she is. janet yellen but whole buyers are buying when rates are low.
the existing home sales rising. that's a nine-year high in the month of may. going to talk about all of this with janet yellen. david. and what do you make of that at this point? where are we in housing? >> well, connell the housing market continues to expand. and there are really no signs that it's going to pull back. but i think we've got a lot more room to go, and we're not at the level of sales that we were in the housing boom and nor do we want to be there. but even with that, i think there's room for the housing market to expand further. connell: you know, on the point of yellen, though i joked around we have our best watching today. one of the points she's making not only the last couple of days but in her previous remarks is that it looks like we could have interest rates low, you know, they do raise at some point. low for a extended period of time. how do you expect homeowners or potential homeowners to react for the rest of the year? people rushing still to refi- take advantage of these low
rates? and if so, how does that impact the composition of the market? >> well, certainly people have been refinancing heavily this year and really over the last couple of years. connell: yes. >> but unless rates fall further, you're going to have fewer and fewer people who can refinance. because they will have already done so. now, on the home buying side, low mortgage rates certainly beneficial. but what's more important is what's happening in the job market. job income numbers are always the most important thing for the housing market. and i think the unemployment numbers are probably an anomaly, probably see decent job numbers going forward. and i think that's going to push the housing market up. and as long as mortgage rates don't skyrocket, i think there's little prospect of that then the housing market should continue to expand over the rest of the year. connell: what's your argument for anomaly? we have others that say the employment market, the job market -- it really isn't so hot. it's going to struggle for some time. the so-so at best. what's your argument that those recent numbers were an anomaly, and we will see better numbers going forward?
>> if you look at the weekly jobless claims, they remain historically low. so businesses are holding on fast to their workers. they can't find qualified workers. if you look at the job labor turn over survey, the jolts numbers. again it shows record numbers of jobs that are out there. it may not be hiring as quickly, but i think that shows that the job market has been pretty good. and a lot of the qualified workers already hired. and we're not going to go back to the 230 250,000 per month. but under 100 i think is too low. probably get to 150 to 200,000 per month for the rest of the year. connell: is there any risk in terms of the economy to follow up on this, and we were showing our promo for the coverage of the british exit vote. of that, and i know the polls have been showing that it shows great britain will stay. but if they did leave, is that a large risk factor for our economy, the u.s. economy when you put together your
forecast? >> you know, it's probably not a big long-term risk economy. the short run financial markets could panic. simply because it has not happened before. so we could see a flight to safety. treasury yields pushing down pushing mortgage rates down, which could be positive for the housing market. you know, and could be some picks up with trade. but either we're leaving or staying, the u can be, it's small. connell: so it's a little bit overstating is your view? >> well, i think it's overstated for the u.s. except for maybe some short-term movements in financial markets. but for the real economy, what it means for jobs and income, i think they're going to be very small here. connell: okay. david thanks. david with nationwide on a number of different subjects. we started with housing but talked about great britain and as we wait for the state of that country and whether they stay or go, how big lebron that we showed you earlier? is he staying or going?
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connell: we're back now with your headlines from coast to coast today, and you can add rory mcilroy for the list of olympic athletes not going to the games because of zika. he says the risk for his family. and he will not be there. sanchez one of the athletes involved in a ponzi scheme. an investor manager took a lot from the broncos quarterback swindled nearly out of $8 million. sanchez. and the party in cleveland we've been showing you pictures today as hundreds of thousands of fans celebrating from lebron and the rest. the cavaliers their first pro sports title in that country and some 52 years. we've got speculation about lebron and whether were able to again. all smiles. why are we talking about that today? come on. we'll be back.neood more in a moment i order b14. i get b14. no surprises. buying business internet on the other hand,
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and now it's finally here. the mercedes-benz summer event is back, with incredible offers on the mercedes-benz you've always longed for. but hurry, these shooting stars fly by fast. lease the gle350 for $579 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. connell: another story we're watching here on "cavuto: coast to coast." the speaker of the house paul ryan he's pushing for what's described or what he is describing as a better gop. have made offering up a plan for better health care initiative a replacement essentially for obamacare. would allow coverage over state lines. so some of the key republicans in the house leadership are talking about that today in washington d.c. meanwhile more trouble for veterans. a va watch dog group reporting that the issues at the va are continuing.
hospitals in texas, it is alleged manipulated wait times for hundreds of vets. sometimes they delayed them for months and, you know, it's been -- this type of thing has been documented many times before with the u.s. army veteran here with us in studio martinez. and i don't know what this tells us. by the way good to see you jr. thank you for coming in. another issue on top of all the issues we've already had. what do you think. >> exactly. first and foremost, i want to send neil my best wishes. connell: of course. >> i've known him for a very long time, and he's become someone that i respect. so neil, you and your family i wish you the betz and hopefully you get back in the studio soon. connell: not at all. >> one of the best people. really is. but essentially i think what you're starting to see is you're starting to see this snowball effect because there's no accountability being held. from the phoenix scandal two
years ago and the director in place there sharon, she wasn't fired, she wasn't removed and she was allowed to be in that position and recently as of a month ago or so because she was removed from her job because she found other allegations from her where she was essentially receiving gifts of money in the sum of, like $50,000. so, you know, think about how if you were to remove her, if you were to help her accountable how you would prevent all of this from happening. and until there's accountability, until we give the power to the va, until secretary macdonald ultimately says hey we're going to start doing this and we're going to pretty much have this no tolerance policy, you're going to see people that are going to hide behind the protection of the law and how they can't be removed. connell: some people say it's like an argument it's either partially privatized or fully privatized for the veterans. would you like to see something like that? or. >> to be able to go away from the va and a civilian sector?
connell: yeah. >> absolutely. and that's the choice program. the program that they already unveiled and are doing that. but you're starting to see a lot of these private they're not being paid by the va. a lot of the payment plans not being done so what they're doing is backing out of the whole program. we want to help veterans but. connell: to do away with a complete. start something new or -- >> the va has done a great job. and i think there have been improvements in iraq and afghanistan started. and i think what it really comes down to is the accountability. connell: fix it. make people accountable. >> sharon was talking about how she's passionate about veterans. well, she's truly not. truly about passionate about her own objectives and what she's trying to accomplish herself. and secretary macdonald misspoke. what he said when he compared it to the disney, it's like you know better than that. and you are a better man than that. and i think from him all the way down, we have to start holding people accountable.
today marks the anniversary of the gi bill. 72 years ago it was put in place. and here right now there's a $3.4 billion cut to the gi bill. i'm a college student. last time i was here with neil a month ago i told him i'm going to college now. that may not affect me, but it's going to affect the next veteran. what's next? when do we start hearing about this? and what people need to understand at home watching that become infuriated by this story is to understand how we need you as civilians we need you as grateful americans to veterans to join us and help our voice be heard. because we've all seen that when we come together and we become passionate about something, things start to happen. we need people to just support us. and i work with ieva, iraq afghanistan veterans of america and they're constantly in dc, constantly with the president and say hey. we have to challenge them and not allow them think we're pushovers. connell: you make your points very well, jr. thank you so much for coming in.
and good luck with everything. >> hopefully i'm not here again talking about it. connell: well, that's the thing. it's representative for all the wrong reasons. jr martinez. we do have breaking news. a federal judge has struck down a white house rule to stop fracking on public land. did so earlier today. press secretary josh earnest moments ago said that they will continue to make the case in the courts. he has just said that as a daily briefing. elon musk in the meantime wants to make a deal with himself. next why investors are saying not such a good deal. that's coming up the next hour coming up. the trump campaign officially ousted one of their workers for tweeting to cory lewandowski. remember when lewandowski got fired in the earlier in the week? well, we have michael caputo standing by with a tweet that's costing him the campaign.
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. connell: tesla making a bid to buy solar city for $2.8 billion. the host of risk and reward, a lot of scrutiny on this. elon musk. >> a lot of scrutiny indeed. but as far as he's concerned it's essentially married two biggest silicon valley ventures. so the idea is he's ramping up production anyway for these batteries for tesla and other uses. so i think it's just as they say in all the 1980s movies about synergy; right? there's going to be electric cars, solar panels all under one roof. all rolling in the shore of the same direction. but does increase security scrutiny i should say on elon musk. he owns more than 20% of both of these companies. i think 21 or 22% .
connell: yeah, so it doesn't make any sense financially. the stocks down. >> right. and also the market caps are incredibly different. one is -- i don't know. a billion and a half to two bill and the other is much higher, like, 33 billion. so there are a lot of people saying maybe elon musk is a guy with a lot of great ideas. spacex . connell: kind of above everything. the stock's down today. >> but if you're a traditional analyst; right? looking at the balance sheet, you're just going to say all right. other than the fact that you own essentially a big chunk of both of these companies . connell: yeah. >> and you're attached to the ideas, maybe it doesn't make sense. but as far as he's concerned -- connell: hit you with another topic here. the senate has blocked this deal it would allow the fbi to basically have access to anybody's internet browsingy without a warrant. so there's obviously privacy issues here. but after orlando, people are thinking about these issues.
>> yeah. so anyone where there there is a suspicion of terrorism or espionage. so those caveats are in it but the senate blocked it in any case. but it was senator mccain who was going for that along with richard -- connell: we're trying to figure this issue out, you know? >> well, privacy in security. but then as you said it is euro contact after orlando where the shooter made plenty of signs. and if you were tracking online, you would have seen a lot of the material . connell: i know. and you could see the other side too where people want to have at least some price. deirdre, thanks. we'll watch you tonight. deirdre bolton risk and reward 5:00 p.m. donald trump now putting up his own money, he said it himself, as a matter of fact. why one supporter says trump has proven he doesn't need all of this money to win. that's the debate. we'll talk about it. plus the trump stamper ousted for a tweet speaking out about
." connell: all right. big day today. donald trump blasting back and this brawl as we're calling it just beginning against trump and hillary clinton. i'm connell mcshane in today on "cavuto: coast to coast" in for neil cavuto. and when it comes to the economy, it really is game on. watch. >> our first republican president abraham lincoln warned us by saying the abandonment of the protective policy by the american government will produce want and ruin among our people. in other words, we have to protect our country. i have decided and visited cities and towns across america, all across america
and seen the devastation caused by the trade policies of bill and hillary clinton. connell: aha. the trade policies. let's bring in cheryl casone now she has there on the fight and the fall out and everything else. hey, cheryl. >> well, connell, it's interesting mr. trump took the chance not just citing abraham lincoln but going after bill clinton. he went after the money today in particular. the relationships that this country established with the chinese back in the day, back when bill clinton was the president of the united states. he talked about the transpacific partnership again saying that it was a bad deal. but many on the democratic side want that deal to go through. and then talking about the fact when it comes to jobs and the u.s. economy, you can, in fact, tie the clintons to the fact that many americans do not have jobs right now. he also went after her ties to wall street, which is interesting because mr. trump did do fundraisers this morning in new york here in town. and then last time as well
started with many we should say wall street fights. but he went after the clinton's ties in wall street particularly talking about the fact that hillary and bill both from 2001 on continued to give speeches making millions of dollars. then he went into her time at the state department. he brought up of course the issue of benghazi, libya, and her failure to protect in his words chris stevens at the time the ambassador was killed there. and also more importantly bringing up the ties to the middle east. by the way, mentioned the fact that those ties were all financial relationships while she was in the state department. now, the facts backing these up, i will let the viewers decide and you as well. but making some very critical statements of had her while she was secretary of state. now from here continues and that's mr. trump's hat i believe, make america great again. lots of fans around here in new york, connell. i'm going to send it back to you, but, again, it's always a
colorful day when donald trump appears. especially colorful in new york city . connell: that's why we're reluctant. you're just too popular. with her fans. now speaking of trump, here's a little bit more of the speech earlier today. >> not just the political system that's rigged. it's the whole economy. we've lost nearly one third of our manufacturing jobs since these two hillary-backed agreements were signed. she gets rich making you poor. hillary clinton may be the most corrupt person ever to seek the presidency of the united states. [applause] she believes she's entitled to the office. her campaign slogan is i'm with her. you know what my response is to that? i'm with you, the american people. [cheers and applause] . connell: so that gives you an idea of what trump's argument is. his economic argument against hillary clinton. we've also been hearing here
in recent days from president obama, and he's been out there and will continue to be out there i would assume touting his own economic record and he's trying to help you he hillary clinton in the process. but what do the numbers tell us? dagen mcdown, david heritager are all here. let's start with you and then move on to everybody else. if the president is making this argument, do you think there's any way that it stands up that essentially things are better under his watch and would continue to be better under hillary's watch? >> i don't think that dog is going to hunt. i think donald trump's america first trade policy while as a free trader, i may have issues with it. politically speaking, it's dynamite. in particular places like pennsylvania and ohio where he's already extremely competitive with hillary clinton. and this could close the deal in those important battleground states . connell: yeah, you know, that is, dagen, what he's counting on; right? i was having a discussion with some of our guests last hour about how do you bring jobs back here to
the united states? i don't know if there's necessarily a straight answer to that. but in my experience talking to trump supporters, they don't necessarily want one. the people who support him. they just like the idea that he's willing to go out and say it and really go after these countries. you know, that are screwing us over for, you know, as he might say. so what do you make of it all? >> it's 1:00, i guess you can use that verb, connell. i give you permission . connell: you of all people are not going to be the one. >> i have cleaned up my act, my friend. there are a couple of things you can talk to people in the business world that really resonate out of donald trump and that's a much simpler tax code. one that businesses and individuals can operate within and prosper because of. and the biggest headaches for businesses under the obama administration and last seven and a half years really have been regulations. much of them coming out of obamacare. but also dodd_frank for financial services inaugurations. and just regulations coming out of the white house through the end of last year.
there were 392 regulations out of the white house and that is more than the total eight year total for president bush and for president clinton prior to him. so if you can dial some of that back, you see them, they keep coming in terms of the overtime rules, they come out of labor department. these are getting in the way of businesses and hiring. if and if trump can promise to change that, it goes a long way with voters . connell: so he'll say that david, and then i guess president obama comes back and says i dug us out of the great recession and all the rest it of. which argument wins out? >> the one that you just mentioned as a ladder. and that is dug us out of not just a recession but nearly falling off a cliff from losing 600 to 800,000 jobs a month under george w. bush. to now being in the range of 200,000 plus jobs a month over 72 months.
connell: so simple four more years argument. do you think that will actually work this time? >> well, i think the four more years argument is based on the success that the obama administration has had in creating jobs despite what are has said by the other panelists to get 200,000 plus jobs is pretty aremarkable. and that totaling millions of jobs. you are not asking what kind of jobs when george w. bush was in office. so let's not move the bar or the goalpost on it. the bar -- they are coming out. they are creating a method -- a way for us to get out of a recession, you have to remember the surplus when unemployment was low. >> why do they always filibuster that nobody else can speak? particularly women? that's odd to me. >> we've heard that before . connell: well, niger was
chuckling. so since so he was polite, we'll just have him wait. to be honest, we can't go through -- we have to let everybody go back and forth a little bit here. what were you saying, dagen to be serious? >> i just said, well, liberal filibustering, at a 38 year low and 38,000 jobs created last month and the reason why donald trump and bernie sanders are resonating with the american people is because wages haven't grown in the last seven and a half years. so people don't feel good and that is president obama's fault . connell: okay. so -- what i think interesting also is this. hold on a second. >> how about raise the minimum wage? . connell: no, absolutely, niger. but it's just the idea of making the argument, a political argument; right? and, niger, you were saying how donald trump in depth when it comes to trade. could you make the argument that the approval generating has gone up, the favorable ratings of these two candidates that are not so
hot, that he could go out and make his case for hillary clinton. what do you say? >> oh, he'll definitely try and president obama somewhat popular. but the american people still reject the economic policy. that's why donald trump is cleaning hillary clinton's clock and the economy and on who will keep america safe. the two most important issues for the american people. no, look at the polls. he's beating -- he's had a difficult couple of weeks. hillary has perhaps had -- please don't interrupt. i know you want to go to your liberal filibuster. but please don't be rude. no, but it's clear that donald trump in spite of having difficult time over the last couple of weeks and hillary clinton having extraordinarily good time, the party unifying behind her, donald trump still cleans her clock on the economy who's going to move the economy back. >> he does better on that. >> the 1%. >> he's got one point -- connell: last word because
then we have to move on soon. go ahead, david. >> where is he cleaning her clock? she's winning in -- >> the economy. >> let me finish. she -- he's not even in position. in a position to affect the economy. so how are you saying -- connell: he just means in the -- he polls well on that issue. heats his point i think; right? so on that particular issue. >> well, that's not -- you know, that point being that an electoral college we're starting -- democrats are starting with 300 plus electoral votes compared to -- connell: not if you lose pennsylvania and ohio. >> trump has no campaign organization. it's just donald trump. and that is not going to get him over the finish line, i can tell you that. >> underestimate and lose and the hillary clinton foundation knows that . connell: there. dagen always has a way. i know that from experience. getting the last word in. thank you to both of you and dagen. british exit vote that we are waiting for. forget about. it's all over. david beckham has weighed in and a lot of business leaders as well.
and i don't even know -- beckham was for stay; right? was he? i don't know a lot of celebrities are. beck amazon say he should stay in the eu but adam shapiro knows more about this than anybody. anybody we have on right now anyway. and he's in berlin for the week reporting on the whole and feel what have you been hearing there, adam? >> well, there's so many different things you can hear in a city like berlin, it's international city, so your testimony people from the eu not only the united kingdom but also from different parts of germany, from belgium, from the netherlands. you mentioned david women am. let me get to that right away. because we have a baseball cart card, a picture of the soccer star or futball star. he actually came out in favor, connell, of remain. he is against the brexit. so he and his wife, the former spice girl victoria beckham, they have both come out in favor of remain. they say that the citizens of united kingdom should vote to stay. but so do 1,200 business leaders. there was a letter published
in the london times -- the times of london today in which 1,200 signatories, they are the leaders of half the of the constituents of the footsie 100. they were in there and essentially what they're saying is you should vote to remain as well. here's what they said a quote from that letter. britain leaving the eu would mean uncertainty for our firms. less trade with europe and fewer jobs. britain remaining in the eu would mean the opposite. more certainty, more trade and more jobs. eu membership is good for business and good for british jobs. that letter was also intended to be read by roughly 1.7 and -- roughly 1.7 million employees of the companies represented by those 1,200 business leaders. among them, sir richard branson, virgin airlines michael bloomberg signed it, the former mayor of new york but also bloomberg which clearly has interest in london. here in berlin, the chancellor
angela merkel meeting with the chancellor. going to have a press conference tomorrow going to be meeting with business leaders and trade unions while the vote is taking place in london. but here in berlin, all kinds of people are talking about this. we've been speaking to people from the uk who work and live here in berlin. we're going to talk more of that later on fox business. connell, back to you . connell: we'll look for that adam. that is the argument that adam was talking about. it looks like it may be winning today. but who knows. the polls have been wrong in past cases. today the markets are down. you know, the european markets adam showed you are up still with the idea that great britain might stay in the eu. but the dow here in the as you say down about 50 points after it was up around 80 earlier. now, if the british were to bolt our next guest columnist could give the market a jolt. cliff that as effectively as i could so rhyming would duet done here. but it seems like the betting markets and the financial
markets are at least leaning towards the side of stay. but you think it's a big deal; right? if they leave? >> well, there's no question. look, at the moment the betting is that britain is more likely to stay than to leave. and markets have become quite optimistic about that in the last week. they're pretty much relying on that result. i'll tell you if we get a leave victory on thursday, tomorrow, i would expect to see a lot of turmoil in the markets on friday. i mean the fact is just a week ago the markets were starting to get nervous by the possibility of brexit. and they were down quite a long way. we've seen about a 6% rise in european stock markets. i suspect we would retrace that and then some. i wouldn't be surprised to see 10% off on a lot of european markets . connell: 10% off. wow. right away you're talking
about, like, huge down day on friday followed up by a down week next week? of course these are all hypotheticals. >> i can't guarantee it. if i could guarantee it, i would be talking to you from my yacht. but that would be the likely scenario because everyone now has placed the bet on the idea that britain is going to stay in europe. and you've got to understand. if there is a leave boat there's a lot of uncertainty that would follow from that, including an internal -- like a domestic political crisis. you know, i would expect the prime minister's position to be in jeopardy if he lost the vote tomorrow. so you would have uncertainty inside the uk. you would have uncertainty about where britain and what britain and europe were going to do. you would also have uncertainty about any contagion that might spread particularly to more vulnerable countries like italy. would that make italy more likely to leave the euro? also consequences to follow
the leave vote. the market is quite complacent about remain at this point. possibly too complacent . connell: that's the risk that we're setting ourselves up for. you can look for ashley and we wish gasparino. i think they're out at the fox business yacht there. so if it goes that way; right? brett with us from london. we'll keep covering this. and he laid out why it's so important to us. and in terms of the danger from europe, ambassador john bolton is why he says the united states should be looking out for something specific. he's next
reporting on today and mr. trump said we should be learning from as he sees it refugee mistakes made in europe. watch this. >> we might as well beat them over the head while they're coming over here. because hillary wants more than 500% more to come in than obama. and we have no idea who these people are. the ultimate trojan horse maybe. but hillary clinton wants these people to come in . connell: now to our next guest on this issue. the former un ambassador john bolton joins us on the dangers of maybe repeating some mistakes. how do you see it, ambassador? >> well, i think the united states has a huge security interest in what britain does. european union has made europe less than the son of its parts. the notion that the eu makes europe stronger i think is miss guided politically and militarily.
it's a bureaucratic overregulated economic policy and on security, it's demonstrated it can't handle the terrorist problem. it can't handle the flow of refugees. it can't handle an aggressive, assertive russia in eastern and central europe. all of which is bad for the united states. a weak europe, which the european union has helped create. connell: and you've watched that as an observer now that you're over in london. is it similar in many ways or parallels in different discussions and arguments and debates that happen there versus what we're going through our election? >> well, i think to some extent, the financial elite here in britain wants to stay in the european union because they fear uncertainty. as if you can foretell the future of the european union with certainty. it is a terribly flawed institution. but the people who will vote for brexit and it's extraordinarily tight. i don't think anybody can really call it at this point.
the people who will vote for brexit are middle class people by in large. and the people who will put it over the top will be labor party blue-collar union members . connell: right. >> and what motivates them is they want to be british. how about that? . connell: well, it's interesting because you have the so-called elites telling those people; right? like we sometimes see here in the united states. quote you don't get it. you don't understand the economics of it, you know? >> well, i think the economics are a coin toss at this point. i think a britain free of the strangling effect of brussels able -- i hope quickly into a free trade agreement with the united states would be very well positioned to be a center investment. people act as though britain drawing from the eu would mean putting a wall up in the english channel. i think the side that has to be worried here is the european union. britain is the second biggest economy in the european union.
it is one-sixth. and the head of german business today said that if the brits vote to leave tomorrow, the british -- that german business would insist that the terms of trade remain the same. because britain is their biggest export market among all the countries of the eu . connell: yeah, that's the kind of thing adam shapiro has been reporting on from berlin. great to see you there in london and back to here. drama over debt. we're going to talk about spending piling up and social security quickly drying up. new details after this
by the way, i was just told by the white house briefing. this is kind of random but josh earnest, the press secretary for some reason asked him if president obama when he leaves office if he wants to be baseball commissioner. he answered by saying "no" but wants to be participate of an nba ownership group. the president. what do you think of that, lebron? no reaction. all right. so the -- yeah good times in cleveland. they have been waiting a long time. so did they really deserve it? that's the only way to look at it. stocks today are turning negative. nothing to do with the cavaliers as far as we know. may have nothing to do with the uk. but down a little bit. down 47 points right now. a bit of a run-up earlier in the week. but what happens when all of our money runs out? that's quite a question. blake burman, we've assigned him that responsibility today because he has pretty sure data coming in on how bad or debt problems are. >> we were over at the treasury department a little
while ago. the newest figures as it relates to the social security and when the reserves may run out. the date has stayed the same. 2034 but that of course means we are now a year closer. 2034 when the treasury department says the reserves will run out. you see at the who of the screen there, 79 to 74%. that's what the treasury department says recipients at that point afterwards would receive depending on when they get into the system. so the clock continues to countdown to that. democrats have put out a lot of different ways as to how they believe that they could extend that timeline. bernie sanders being one of them saying that the cap at which you get taxed should be eliminated. so that higher income earners could pay into that tax. second hillary clinton has said that she would be open to that possibility. but hasn't given an exact figure as to what that number might be.
it is a solution that jack lou talked about today that he says he and the president both see as well. take a listen from lou earlier today. >> we're going to have to have a bipartisan discussion. i believe it's going to have to involve addressing the tax base. we don't put a social security tax on income above a certain level. that level is not very high. around $110,000 a year. and there are as the president said a lot of people who can afford to pay more. >> donald trump has said rather that he would not touch social security, that it would stay as is. and, connell, i was speaking with a senior administration official earlier today about this. and i said when you model everything, have you tried to factor in 2016? depending on who wins? and that senior administration official says what exactly the mix will be in the end. that's a really good question. and we'll see. connell: yeah. said, hey, if it's such a good question, why don't you answer it. thank you, blake. blake burman at the white house today.
dan mitchell is our next guest. a deficit hawk as mitchell is. as we look at these crazy numbers on the u.s. debt. i would argue, dan, that we're never really going to get serious about this because this story has been around for so long. and the numbers have been bad for a long time. and until it's just the end of days and, you know something terrible happens and the markets collapse or something, it doesn't seem like we're getting serious, does it? >> it's a big problem. like the titanic, and we see the iceberg days in advance and yet the politicians who are steering the ship won't turn it. but here's what you need to know. it's much worse than that report at the start of this segment said. the so-called reserves and social security trust if you understand are nothing but i owe yous. and, oh, by the way, social security is in a good shape compared to the health entitlement. medicaid, medicare, obamacare, you're talking in the long rub
$100 trillion plus of unfunded liabilities. baked into the cake . connell: right? >> we are greece if we don't begin to change and things actually hillary clinton wants to step on the accelerator. whatever ships have, increase the motors of the ship and rush toward the iceberg . connell: whatever they have. they have. yeah, working all those analogies and comparisons in there. when you think about it, dan when simpson talked about it they had a commission on it on some of these similar types of issues and other people talked about it and you said it's worse than what numbers show. it's hard for it to sink in, you know? and it wasn't until -- and even after '08 when the market fell apart, even they said it would have to happen again when it was in housing. how do you get through to people inspect? how do you get your argument through to people? >> that's a big problem. politicians only think to the next election cycle. that's their time horizon and frankly we probably have ten years, 15 years, maybe 20 years . connell: that's the problem, you know?
>> think about it this way. if we were in greece doing this program in 1998, some of us might be saying, oh everything's just fine. we're able to borrow at 2% interest rates. obviously the markets have competence in our fiscal system. but it was just ten years later that greece blew up. so if we don't deal with it now, we have nobody to blame but ourselves. but of course the people who really should be ablamed are the politicians because they created the mess, and some of them want to make it worse. connell: they want to your point get reelected. thank you. good to talk to you. now, investors have been placing their bets in the meantime on this uk vote. but what if we toll you that the bookies already know how that vote is going to play out? that's inside from our friend gasparino. coming up. this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat
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connell: welcome back to "cavuto: coast to coast." i'm connell mcshane filling in for neil cavuto for today. the pile on, keeps piling on. >> hillary clinton may be the most corrupt person ever to seek the presidency of the united states. >> every day we see how reckless and careless trump is. he is proud of it. >> her decisions spread death, destruction, and terrorism. >> trump would throw us back
into recession. >> if she ever became president god help us. >> he has written a lot of books about business. they all seem to end at chapter 11. >> her campaign slogan is i'm with her. you know what my response is to that? i'm with you, the american people. [applause] connell: so we're calling it the biz brawl. you see that at the bottom of your screen? very creative. we love alliteration around here. they are arguing over economics and business and trump some other stuff. next hour hillary clinton is set to hit back again. she will be in north carolina. fbn all over that as well. i think she will speak more what she wants to do as opposed to what trump wants to do when she speaks. united kingdom, u.k. vote, we've been talking a lot about that as well. we sometimes say what are people betting on. in u.k. we literally mean what are people betting with the bookies.
people putting their money where their mouth is. one analyst telling liz claman that bookies no better than pollsters. >> at moment polls have it very, very close but betting markets are calling it clearly in remain. betting market. make a prediction what they think will happen but putting real money with skin in the game. polling says what are you going to do? betting says what do you think will happen and you will put your own money on it, that is why it's a lot clearer than polling. connell: all right. liz is here in the newsroom in new york. and, gasparino is back as well. prince charles, prince charlie gasparino over there in london. we'll goat to charlie in a second, liz. tell me about the betting market. 75-25, something like that. >> it has changed by one more percentage point to the stay side. connell: really. >> yesterday it was 75% to 25%. the political analyst you just heard from, liz, i have to tell
you this is the way it is going to go. the betting market has always been right in england. right now it is 76-24%. those are the very latest numbers. it is going more to the stay side. connell: i think issue here, charlie, "barron's" brought it up, we're really setting ourselves up for a stay. if we don't get it, for some reason the polls are wrong betting markets are wrong, there could be issues in our market, right? >> it is going to be wild. it will be less wild for the u.s. although i think we'll get turbulence. here in terms of trading anything related, british related, pound related will be off the charts. i will say this though. here is where i'm a little concerned about the betting markets. is that reflection of real, sort of information that the polling doesn't have, or is it it a
reflection of every major tv station, most of them, the bbc for example, is running, it is news analysis is essentially a remain ad. all the celebrities like david beckham, like i really care what david beckham thinks about economics. anyway, he is out there touting remain, not to exit the e.u. and you know major politicians both, you know in the labour party but also establishment conservatives like david cameron are saying we need to stay too. is it reflecting that which is at odds with you know the popular mood which is lot closer? or is it, or is it real? connell: sometimes we see that even with politics here, liz. >> man on the street, man on the street it is very divided. connell: it is. >> saying over at lad brooks he was saying there is big difference man on the street charlie is referencing will do once he or she goes into the
poll booth what people then in general think is really going to happen. that is the betters. they look at all influx of news and decisions. bristol pulse, a city outside of london, bristol is saying they would like to leave. the bristol pulse, saying lad brooks and betting agencies say it will be stay. jpmorgan researchers are saying it is way closer than that. there is a little bit of each. connell: real quick, charlie sorry. >> i'm sorry. yes, the anecdotal part was man on the street. it is divided. usually in trade, our way of looking at betting in presidential elections, usually right but i just don't know what the poll, betters what information have we don't have here. are they working off of some top secret, like stash of polling data that no one else knows about because it sounds like it is pretty even. connell: or just overreacting to current polling data. thank you, charlie.
you said it, not me. liz claman with us from new york. imagine charlie doing man on the street interviews by the way they see him coming? we'll talk to trump former campaign advisor who was fired over a tweet. does he regret it. he is next. we'll have that coming up for you. >> cleveland keeps on partying today, look at that for the cavs. they are nuts in the the streets of cleveland for some time enjoying themselves. for "cavuto: coast to coast" after a quick break. life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life.
city hall. today the site of a big protest by chicago public school teachers. they had a forced furlough day today. day off without pay, because of budget troubles with the schools. state of illinois currently does not have a state budget. that means the schools are running out of money and could not open this fall. teachers demanding that the wealthy, big business, and others pay more in taxes. they say those folks are not paying their fair share. big protests across the city targeting some of the city's wealthiest individuals saying they need to pay more to pay for schools. we'll see how it goes in the fall. state legislature controlled by democrats and republican governor can't seem to agree. that is the latest from chicago. "coast to coast" will be back
family road trip! fun! check engine. not fun! but, you've got hum. that's like driving with this guy. all you do is press this, and in plain english, “coolant” you'll know what's wrong. if you do need a mechanic, just press this. “thank you for calling hum.” and if you really need help, help can find you, automatically, 24/7. because you put this, in here. verizon. the technology designed to make your car smarter, safer and more connected. put some smarts in your car. connell: we know there was a major shake-up in the trump campaign this week and corey lewandoski was fired, the campaign manager, there was reaction tweet by someone michael caputo, advisor to trump that caused him to sign. see that ding-dong the witch is dead on the tweet.
michael, people would have empathy what happened to you, we all said something right after it comes out of our mouth we regret it or this day and age we tweet something we could take back. obviously that can not happen. what i think is interesting though, because it speaks to what is happening or happening inside of the campaign, why did you say what you said in the first place? do you really dislike corey lewandoski that much? >> corey and i haven't gotten along very well, it got kind of personal. i think my exuberance finding out about the fundamental changes in the campaign leadership got the best of me. i realized very quickly that i had done a real disservice to donald trump. so i did what a professional political operative does, i fell on my sword. there is no room for unforced errors running against a juggernaught like hillary clinton and i just, i didn't avail myself well for my boss. connell: okay. you resigned your position. he accepted your resignation. you all move on from that. what is happening inside of the trump campaign?
what was the issue with lewandoski you? said you guys didn't get along. what was he doing holding trump back? what were the real issues? >> well, i think there was a bit of toxicity in the campaign but mr. trump made the change on monday. that's why i'm so excited about where things are right now, even though i'm not on the ship anymore, it is really moving forward. paul manifort is completely in charge. his campaign plan he and mr. trump put together is being put completely into place. you've seen immediate change in things even just yesterday when rapid reaction force got their act together started moving out on hillary messages. today the speech by donald trump, it got down to the simplest, most important distilled message of the campaign, change or more of the same. i think it will continue to get better. connell: is that the kind of thing you would be talking about as an advisor internally, we need to be quicker, more organized, is that the type of things you were saying when you worked in the campaign?
>> well, and that is kind of things have been discussed since paul manifort came on board. i in fact was over at convention at mr. trump's office, caucus operations as director of communications when i made this foolish tweet. i had hired 14 top communicators, most of them from the military. some of them combat from centcom, all experienced communications professionals put together a rapid response team to start moving forward for mr. trump when he gets to the convention. there is really significant hires going on in this campaign that aren't being trumpeted out there. i think people on capitol hill those who are expressing doubt about the trump campaign are just throwing shade on it. there is a lot more going on there. there are real positive things happening and you don't have to look any further than mr. trump's speech today. connell: okay, michael. good luck whatever is next for you. we appreciate you coming on, talking about issues today. michael caputo. we do have breaking news we have to move on to it is about bernie sanders taping a c-span
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call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ connell: here we go. this is the biz blitz. should be fun. we'll run through some of the big business stories of the day and look how investors should play those stories in the markets. john tamny is here to help us out in the biz blitz. we'll talk first about tesla. the stock is down today put it mildly. tesla down by 9%. elon musk said a solarcity purchase is a no-brainer. maybe not so much? what do you make of it? >> well he is a great entrepreneur but i think it needs to be stressed neither solar nor electric cars can stand on their own.
there is some degree of creation of government subsidies. i don't want to touch the stock. you don't know what future congress will do or president about these subsidies. connell: fair enough. the second one in our biz blitz is facebook. the story on facebook they have signed a deal or number of deals with 140 media companies or thereabouts and celebrities for their new feature, facebook live. what do you think? does that make facebook a more attractive investment, this idea of facebook live? >>, absolutely to some degree i think it is pricedded. increasing americans and people around the world start with facebook. they're on it all day. they end it with facebook. only makes sense they should come up with ways to keep eyeballs on even more. this is buy to me. connell: negative publicity for facebook live in recent days idea of getting celebrities behind it. maybe that helps out. we call it biz blitz, we want to get through as much stocks and cover as much ground.
after the bell we get barnes & noble. big losses expected. i guess books is not the best business to be in long-term but you would think online and all the tab helets and everything. the stock anyway is down by 6%. what do we make of it? >> even jeff bezos at allison says amazon can not create excitement of going into a store. there is still excitement going into a bookstore. i would be bullish on barnes and noble because i think it has potential to evolve in ways we don't even know that will excite us. connell: you did a very good job. we were concerned you could work your way through three stocks in time allotted. you did such a good job we'll give you a bonus question on the "brexit." u.k., vote will be tomorrow. we're covering it like crazy. the main point is, charlie gasparino made this point, others made this point, we're really setting ourselves up for a stay, right? that looks like the favorite scenario. what if that doesn't happen? >> if it doesn't happen, this is
so much passion over something so small and inconsequential. whether they leave or stay reality is we're talking about two prosperous locales. there will still be trade, there will still be investment. there will still be immigration. history will show this as latest why 2 k, much ado about nothing -- y2k. connell: thank you, good stuff out of john tamny. we talked about bernie sanders a little while ago. he apparently come to the revelation he will not be nominee for president. there is bernie. he told c-span it seems he won't be. it appears that way. yes, we, we didn't want to tell him but now he knows. so we'll be back with more. trish regan is coming up after a quick break. ♪ ♪ ♪ ♪
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setting ourself up for a stay vote. if the u.k. was to leave, would that be a surprise? well, we have it covered. "varney & company" 11:00 p.m. eastern. cheryl casone after that. trish regan involved tomorrow night. she is involved right now to take you through the next hour. hey, trish. trish: you bet i am. thank you, connell. breaking today, everyone. donald trump delivering a major attack on hillary clinton. in a pointed rebuttal to her attacks yesterday he calls her an insider that has rigged system for the benefit of her family and special interests for years making herself and her friends rich at the expense of working americans. i'm trish regan. welcome, everyone, to "the intelligence report." donald trump playing offense accusing hillary clinton of government corruption. watch. >> the other candidate in this race has spent her entire life making money for special interests and i will tell you, she has made plenty of money for them and she has been taking