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tv   The Intelligence Report With Trish Regan  FOX Business  July 22, 2016 2:00pm-3:01pm EDT

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but the world isn't. many saying it's on fire. ashley. ashley: charles, thank you very much, we will take it from here. breaking news, there's a deadly shooting spree at a munich shopping center. i'm ashley webster this afternoon for trish regan and welcome everybody to the intelligencereport. munich police expecting multiple fatalities and believe more than one shooter. there's no word on whether that is the case or any possible motive but it is a fast-developing story. our cheryl casone has the very latest, cheryl. cheryl: yeah, ashley, the reports started about an hour ago coming owl of munich, germany, reports of multiple victims, multiple-shooting incident. the olympia shopping center in downtown munich. all we are getting is that the shooting began at a mcdonalds inside of the mall just after
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6:00 p.m. local time in germany. police have confirmed three dead. so police confirming three dead. reports as many 15 dead. sky newses our partners in london, ashley, are saying that there's report of second shooting. they've got eyewitnesses saying that there's a second shoot target marion plat stations, you have two different locations in munich. the train stags and shopping mall as well. it's a large mall in munich. it has two levels, 135 stores. the police were talking to news agency in germany saying they do expect multiple dead out of this incident. the response was quick. you've got counterterrorism officials from munich already on the ground. german police as well but they are hunting for a suspect or multiple suspects that they have not yet located.
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so as of now, no suspect has been captured. they don't know who. >> how many people they are looking for. they are also telling any one in the vicinity in munich, take cover, get out of the streets. they are telling people to get off of their phones. several people were facebook living the event as they were unfolding in munich germany. police is saying that that needs to stop right now. the olympia shopping center at 6:00 p.m. eastern time in munich, this is when it all begin. the sun newspaper reporting that there were victims being seen on the floor within inside of the mall. police, as far as i know right now i'm looking to get an update, police have not entered the malibu -- the mall as we speak right now. we just got a report that jay johnson, department of homeland
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secretary, he has been briefed on the situation. he's on his way to philly to look at the security preparations. the latest update, german officials confirming three now dead in this munich shooting but ashley, this number could rise and i think it's safe to say that the reports i'm seeing from several agencies coming out oh in europe that that's likely going to be the case sadly to report to you. i'm looking for more details, ashley, i will get back to you when i have something new. ashley: thank you very much, cheryl. let's get more reaction now, joining me former fbi inspector bill right here in studio and former cia agent mike baker also joining us. bill, let me begin with you, your reaction, oh, no here we go again. all familiar. >> ashley, exactly right. ecome familiar the scenes in europe as well as the attack of the mall.
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took place less than two years in kenya, we remember that mall that was associated with al-shabab, terrorist network. this didn't seem to be that case but certainly seems to be -- have the same earmarks of the incident that was coordinated, planned out. we don't know who is behind it but europe has faced people and countries have thousands of people who they were not able to fully track and have been moving fluidly across the border and as well as have access to weapons that have made their seemway from the syrian front. ashley: it appears to me another soft target, air stations, metro stations.
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it's the largest in southeast germany. i don't know whether we read -- reports begin in mcdonalds, a symbol of the west. what's your reaction? >> yeah, it is a large, large shopping complex. it's basically adjacent from the munich stadium. security tends to be pretty high there. you have a lot of police out on foot. the cctb footage there, camera coverage inside the facility is very good and that's going to be critical because as cheryl pointed out, you know, the -- as far as we are told at this point, the shooters were -- or shooter haven't been identified so that film footage is in reviewed right now because, again, sort of the eyewitness reports tend to be less incredible in a mast-moving situation like this. but, yeah, i agree with bill. in fact, i almost always agree with bill, frankly. [laughter] >> this is almost a
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self-inflicted wound with a million plus refugees to germany over the past year, the idea that, you know, somehow all of those individuals were properly screened and vetted is nonsense in concert with the islamic states already stated goal of using the refugee crisis for their own purposes, you know, you could see this coming. >> well, you know, mike, listen, i'm going to ask bill the same question as i'm going to ask you now. how can you prevent these things. in my mind you can't. if it's a lone wolf or a couple of suspects, even five if they spread out and all they want to do is create as much fear and kill as many people as they can. these particular places where people just go about their lives. it's very little you can do. you can have police presence or policemen or security officers in every street corner.
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>> you're right, you can lock society down and minimize this more than we have right now but that's not the world we are going to live in, it's not going to happen. if you spend any time in counterterrorism and operations, you understand that we are never going to get this risk down to zero so you're absolutely correct. very unsating answer but you can't prevent all of these incidents, but in concert with everything else that you do, you know, you spend all of your time in the world of counterterrorism trying to identify, minimize, disrupt, prevent as many as possible. you're always work to go get to zero risk, but, you know, in the back of your mind it's frustrating because you know you're never going to get there. ashley: bill, same question. also interesting germany, germany had been spare a lot of this but in less than a week ago we had an ax attack from refugee that injured four seriously and now we have this. germany a target, and you too, as a result of the floods of
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refugees who came in, germany saying, we need to be a safe haven but what we do is open the door for people who want to do bad things. >> right, ashley. mutual admiration for mike as well. it is true that when you get to operational side of these types of issues, intelligence gathering, what we see now and this is the case here, we don't know for sure, i just want to highlight. ashley: that's right. >> we don't know that. taking that assumption, it gets down to allow level where the conspiracy may be one person's mind, that person may have mode his mind that day and no longer -- there's a limited opportunity to be able to catch some of these type of events as they manifest themselves,meaning as people are planning them. this could have been just a couple of people speaking, communicating, perhaps discreetly over some of the networks which isis and others have been using and very difficult for intelligence or law enforcement to pick on. that's really been one of the
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issues that here in the u.s. the director of fbi indicated has been a challenge for them, is being able to identify people who are talking either discreetly or encrypted line or a person's mind much like we have seen in orlando that manifest itself very fast and this person committed the act, at tend of the day, personal responsible. when you talk about being in these situations and i've told my people -- i have family members who are in europe right now, think of your own plans, what would you do if you're in a mall. ashley: you tell them to avoid crowded public places, which is hard to tell a tourist who wants to see individual sites. it's hard to be out in public place. >> i did. go out in country side and taste the wine instead of major supporting event where we saw people in nice gathering in large numbers.
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they can get high numbers of casualties. >> do we have sebastián with us. you're an expertrt on terrorism and the battle that we face and as i said to bill and mike, this is something that we are becoming all too familiar with, police surrounding people. people are running for their lives. let me get your reaction first, what's happening in munich at the shopping center. >> well, hopefully they're not doing what we have seen recently and ashley, do you remember back operation, iranian siege in the uk? ashley: i do. i was outside the embassy at the time. >> do you remember the bbc was shooting footage live? ashley: yes, yes. >> i hope they're not doing that right now. bad guys don't need any help from the media or from anybody else with their mobile phones filming this and live streaming this, so hopefully
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they're securing the perimeter. they have a des crimination of shooter or shooters and trying to locate them as rapidly as possible. this is the new world we live in. this is the reality of a world at war. this isn't the first time it's happened. just a few months ago the knife attack in a suburban rail station outside of munich where commuters were attack. isis, jihadi's, if this is a jihadi terrorist attack, they are taking it to high concentrations of unarmed civilians. what better place than one of the biggest shopping malls in germany, that's a perfect target rich environment. ashley: and sebastián, listen, is it my sense that it's picking up in occurrence. isis has been putting out messages to do exactly this, to take the fight to wherever you're living and for whatever reason to bill's point here, we don't know for sure what the motive was behind the shooting
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in munich but it certainly has the hallmarks of a terrorist attack. it seems that whatever you say about isis, they may be losing ground and territory but at the same time they seem to be getting into the heads of these people who want to do harm. >> yes, i mean, this is the magazine, the english language, isis magazine is explicit, it's now on issues 3, they have english instructions on who to attack, how to attack them, when to attack them, you can access this online, this is -- this is the manual of modern jihad and unlike like al-qaeda which is really painted itself into a corner, ironically 9/11 was so incredibly similarly successful for them, they are locked into a place where nay have to have giant skeptical to prove they have capacity. isis has negated that. they're not interested in giant symbolic targets like orlando,
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large gathering on the equivalent of july 4th in france, so this is -- this is like guerilla warfare, it's cheap, hard to detect and has the same effect, it creates fear and spreads fear among population. ashley: mike, let me bring you in, as we watch the fear, i'm sure the police on high alert, here in the united states, this is the kind of attack that we fear very much, isn't it? >> well, it is. it's the kind of attack we have worried since 9/11 and before 9/11. there was an effort to try to say, okay, where is the next threat coming from and what that threat is going to look like and the soft targets, you know, have been a concern for years and years. and the fact that they didn't necessarily materialize, i had a
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couple of people scratching their heads, very hard work by a lot of people behind the scenes. anybody who thinks we have avoided large-scale attacks over the years here just through luck is fooling themselves. it's a tremendous amount of workday and night. but, yes, this is exactly the sort of thing we are worried about. the interesting part is that i was listening to a radio interview and the default position for a lot of people in the media seems to be this immediate excuse of -- of ou know,s like this in an effort terrorism. almost in a way to apologize and say, no, let's not yet again rush to say this is a muslim muslim- extremist problem. just as "the new york times" refer to the driver as -- in nice, you have to understand who
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the perpetrators are but whether it's a direct line or dotted line, it doesn't matter. from the islamic state''s perspective, jihadist state perspective this is a win. they don't care where it's a committed operational act or somebody who has latched onto their cause at the last minute. it's still a win for them. ashley: the bullets still kill no matter who kills what. i want to bring people up to speed very quickly. multiple witnesses now saying that they saw three suspects with guns and also been according to sky news, sister station in london, a second shooting has been confirmed at the metro station in munich, about 5 miles from the shopping mall that you're seeing right now. we will take a break and continue with this right after that.
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ashley: we are continuing to follow this breaking news out of munich, germany, a shooting -- shooting spree as german police described it at a shopping mall, a large shopping mall in southern germany. three people have been killed and multiple other injuries and witnesses say may be three suspects were seen with guns. no one has been arrested as we know at this point. people in the munich being told to stay off of the streets. also reports of shooting in metro station 5 mimiles from mumunich. we have no confirmation of what the motive will be. terrorism one possibility that's being debated. those are the details we have now. again, three people reported kill inside a shopping center in munich, germany, a huge shopping center.
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three suspects possibly involved, that is yet to be confirmed but this is a fast-moving situation and a, of course, we will continue to bring you the latest details as they become available to us. let's change topics for now. president obama meeting with enrique peña nieto at the white house today. nieto has been a critic for donald trump specifically trump's proposal to build a wall between u.s. and méxico. peter barnes joins us now with the latest on this story, peter. peter: that's right, ashley. i'm still in cleveland here the day after the end of the republican convention here in cleveland and as you know trump accepted party nomination last night and gave a speech of more than an hour talking about proposals including proposals to fight terrorism and try to improve law and order here in the united states and abroad.
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he spoke to a group of supporters and volunteers this morning before this news about attacks in germany at the westin hotel behind me and was unscripted and did not have a teleprompter and so what's back, well, lyin ted cruz, the candidate's nickname from the primary fight. trump spent more time bashing cruz this morning than criticizing hillary clinton for cruz's shocker speech to the republican convention on tuesday night. as you know, cruz did not endorse trump in that speech and for that, trump said this morning, that cruz broke his promise, pledge to support the republican nominee. >> it's fine. if he gives it, i will not accept it. it won't matter. [applause] >> honestly, he should have done because nobody cares and he
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would have been in better shape for four years from now -- i don't see him winning anyway. peter: trump went on charging cruz with lying, no comment from senator cruz by twitter or any other means. president obama was asked about trump's speech the other night and offered a measured response. >> we are not going to make good decisions based on fears that don't have a basis and fact. and that, i think, is something that i hope all americans pay attention to. america is much less violent than it was 20-30 years ago and immigration is much less a problem than it was.
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peter: now trump after his meeting this morning headed back to new york and will hit the campaign trail next week in north carolina and florida. ashley. ashley: all right, peter barnes. we are following the latest in germany, a shooting in munich, we will be right back ♪ before it became a medicine, it was an idea. a wild "what-if." so scientists went to work. they examined 87 different protein structures and worked for 12 long years. there were thousands of patient volunteers and the hope of millions. and so after it became a medicine, someone who couldn't be cured,
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ashley: sarah, or let me begin with you just as we close out the convention in cleveland. it felt to me like we were
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seeing the birth of a new republican party. the old establishment types must have been wondering what the heck happened. we have donald trump, the most unconventional candidate you could ever imagine, and talking about issues perhaps the old gop wouldn't. some would argue that's what the republican party needs. would you agree? be. >> well, i do think we saw a very different direction for the republican party at this convention. there were sort of ups and downs during the week,ing but in the end, donald trump delivers his message and what he sees for the party heading into the fall. the big question will be does hillary clinton acknowledge that most people think the country is on the wrong track, or does she run as the status quo candidate that donald trump says she is? ashley: let's ask capris that very question. what do you say? >> well, i think anytime throughout history when you are of the same party of the president of the united states that is currently in the white house, you're always having a challenge. throughout the 20th century it's been very rare that we have seen
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a nominee come through and actually win the white houseseee in philadelphia from what we saw inin cleveland -- asashley: right. >> something that really was a narrative of fear. and i think that we will see a little bit more on thetism coming out of philadelphia. ashley: i have literally a minute. capris, i'm sorry this is so short because of all the breaking news, but hillary's vp pick, u.s. senator tim kaine, does he upset those liberals in the democratic party, the bernie supporters? is he going to be the pick that will make them not vote for hillary? >> i think this entire election is not necessarily about swaying independent voters, but whether or not folks are going to stay home or switch parties.
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the progressive folks are not going to be pleased with tim kaine, but it may help bring some other folks backing into the fray that may be considering voting for donald trump because -- ashley: got it. >> -- tim kaine's a little bit more down the middle. ashley: thank you, capris. sarah, donald trump mentioned picking up some of those bernie sanders supporters. a lot of people laugh at that, but could he? >> absolutely. i think he can. i think that hillary has really annoyed a large chunk of her base, and that's the bernie sanders part of the base. i think donald trump can pick them up. we have yet to see whether he will. i do think you'll see him get a bump out of this convention, most nominees do. and the question is, is hillary clinton's convention next week going to be largely ignored? she has yet to be able to capture the attention, the excitement that the republicans have captured. ashley: very quickly, sarah, last question. donald trump was criticized for
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painting a very bleak, dark picture of where america stands today. how would you respond to that? >> well, i think he's, unfortunately, in line with a lot of voters. far more than half think the country is on the wrong direction. they blame this president for two terms where foreign policy has been a failure, and that was under hillary clinton. the world does feel like a scarier place. the economic recovery hasn't spread to all parts of this country by a long shot. and so i do think donald trump is able to tap into some of that. i think ivanka trump's speech ahead of time balanced that to some extent. she played more of the role of first lady than i think we've seen from other children in past conventions, and we'll see what that looks like moving forward. ashley: zaire are, thank you very much and capris who we lost on the satellite, but at least she got in her points. we are monitoring, of course, that deadly shooting spree in munich, a shopping
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center. we'll have more of the details after the break. ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models.
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ashley: we are continuing to follow the breaking news out of munich, germany. a shooting spree is how german police are describing it, and it goes on. it began at a shopping center, a mall, one of largest in the region, shortly before 6 p.m. local time. reportedly began in the mcdonald's restaurant inside the mall. there are reports now at least
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three people have been killed, an unknown number of injuries, multiple injuries as being reported by a number of media outlets. the number of suspects, german police say at least two, although witnesses report seeing three suspects with guns. they are still on the loose. the city of munich, at least the city center, has been shut down. there are no trams, buses, trains, subways. people being ordered off the streets and to stay in their homes, and it's an ongoing situation, and german police just putting out a tweet saying to people, please, do not take pictures of us as we move around looking for the suspects. we do not want to give anything away as to our operation. we are continuing to follow this, and we'll give you the very latest details as they become apart. all right. changing subjects, billionaire peter thiel going against the grain and breaking down stereotypes at the republican national convention. >> i am proud to be gay. i am proud to be a republican. [cheers and applause]
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but most of all, i am proud to be an american! [cheers and applause] ashley: lots of cheers. peter thiel saying he was proud to be a republican, and a republican no less from silicon valley. no one even knew they existed. turns out there is more than one. joining me now is a friend of peter's, carl but the dean know. thank you, carl, i apologize for butchering your name. mr. thiel is the president of the silicon valley leadership group. what did you make of his speech last night? how do you think he did many. >> my last name is garre dee know. you just need that italian flair. ashley: i've got it now. >> perfect. [laughter] we're proud of peter thiel, and it's not for every word he said, but the fact he was willing to speak out and to bring the innovation economy, the global capital of the innovation economy to our nation's capital in terms of who wants to
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represent us, whether that's going to be secretary clinton or donald trump. silicon valley being engaged is always a positive. ashley: why are republicans so rare in silicon valley, carl? >> it's fascinating because silicon valley innovators and entrepreneurs don't always identify with a political party or ideology as much as pragmatism. we want to get things done. we want to make sure at the regional level that we're dealing with tough issues like traffic and housing and education. at the state level and at the federal level, we want to make sure that thorny issues like immigration reform and cybersecurity and data privacy are being addressed. so we rarely ask at all what's your political affiliation. no one really cares. what we want to ask about is what are your solutions to the pressing problems that we face in silicon valley and throughout our country? ashley: very quickly, i'm out of time because of all the breaking
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news, and i apologize, but who's better for the tech industry do you think, carl, hillary or trump? >> we have just sent a letter to both, actually, asking them on a variety of issues that i've just mentioned where will you stand on the issues of importance not only to silicon valley and america's innovation economy, but to our families and everyone that helps our nation's economy thrive. and we're going to evaluate what they tell us on those critical issues. ashley: very good. carl guardino, thank you so much. we appreciate it. we'll be right back.
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>> the nasdaq at the highest level of 2016 or, so good news for those tech stocks. here's a look at the major averages this week, and we're seeing the dow just holding onto the green. we'll be backing in negative territory, the nasdaq up .4% and the s&p 500 up about a half of 1%. here's the biggest dow losers this week, general he can trick down almost 3%, caterpillar up, disney down and nike down 1.8%. take a look at the stocks in
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particular, kid get an up-- did get an upgrade -- [inaudible]
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ashley: we are continuing to follow the breaking news out of munich. this is a picture put up by sky news in the u.k. showing what it purports to be one of the suspects with some sort of assault rifle. police say as many as three suspects could still be on the loose. no one is in custody, at least three people killed at a munich shopping center.
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reports of gunfire be elsewhere in munich, that city being shut down. people being told a -- told to avoid the streets. we are continuing to follow this breaking story. meanwhile, hillary clinton is expected to name her running mate before the party's convention kicks off monday. reports today say she favors virginia senator tim kaine, though other sources say she has not yet made up her decision or mind, and ag secretary tom vilsack is still in the mix. hillary expected to make the official announcement during a swing through florida, maybe at an afternoon rally today in tampa. we shall see. joining me now, progressive radio host chris hahn is mark serrano, president of the proactive communications. thank you for joining us, gentlemen. chris, let me begin with you. what about mr. kaine, is he a good pick for hillary? >> yeah. look, i think he's a fine pick p he shores up virginia which is going to be a very important state in this election.
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he speaks fluent spanish, can go on the spanish-speaking networks and speak with ease with their anchors. so i think he's a fine pick. i would have gone with john hickenlooper out of colorado. i think i might be the only one in america still holding onto that, but this is who we've got. [laughter] ashley: well, we don't know yet, there's nothing be official. mark, listen, it seems to me that tim kaine is not going to make the more liberal of the democratic party very happy. will they -- >> agreed. ashley: will they embrace him, i guess, is my question. >> well, you know, she's not -- hillary clinton is not going to play towards the bernie crowd because she doesn't want to appease them any more than she already has. she's like bernie sanders. she doesn't need to pick another candidate like him. so what she's going to do is, look, keep in mind donald trump picked his candidate by his gut. hillary clinton picks, is going to pick hers by a focus group. >> you think that -- >> absolutely. >> you think that was his gut choice? you're out of your mind.
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>> it was a got choice. >> his gut was telling him chris christie. >> her focus groups and i'm telling you, tim kaine is safe. he's establishment, and that's what hillary clinton's all about. ashley: having said that, that's the way a classic politician operates, and that's why donald trump has done so so well, anything but the normal. what would you say, chrissome. >> mike pence was no be way a gut check moment. it was an establishment check moment for donald trump, and it was the right thing for him to do politically. look, i think it's going to be an interesting choice for hillary clinton. whether or not it matters -- >> it's not interesting at all, chris. there's nothing interesting about it. it's safe, it's establish. , and the voters don't care. >> hey, hey, i'm still holding out, i'm still holding out hope for john hickenlooper -- [laughter] >> you're the only one. >> because colorado's got legalized marijuana, and that's the thing they care most about. ashley: all right, gentlemen,
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before we hit the democratic convention on monday, i'm going to ask you both, what are you expecting from the convention, and how much will it give a bump to hillary in the polls? let me begin with mark. >> i think you can expect a lot of people to fall asleep watching this convention. [laughter] because the establishment's going to be running it for hillary clinton, and it's going to be nice and safe like her vp pick. ashley: all right, chris. quickly. >> as to opposed to the gop convention where nobody could sleep at night because we all thought the world was going to end at any moment. [laughter] there'll be a lot of hope, kind of look like something ronald reagan might say -- >> no, no, no. you're not going to talk about the economy because it's so bad. >> no, the economy's actually doing good, we're going to talk about it. ashley: love it, love it, love it. chris and mark, thank you so much. appreciate it. [laughter] let's take a look at these markets. they could go all day and night. take a look at the markets, well, we're finishing out the week on a nice upswing.
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the dow modestly up 35 points, the s&p and nasdaq also moving -- the nasdaq up half a percent today after losing ground, the major markets that is, yesterday. we will be right back. ♪
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(ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store.
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ashley: we are continuing to follow this breaking news out of munich, a shooting at a shopping mall. the situation goes on. cheryl ca soap me's been -- can sony's been following it. >> reporter: we now have six dead confirmed in munich from attack, and we should say police are now calling this a terrorist attack. munich police calling it a terrorist attack. now, witnesses say that there were three suspects wearing black armored gear and that they had long eiffels. they were holding long rifles. witnesses saying there were three distinct shooters holding
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guns, all of this at the mall. also we should say that the entire transit system in munich has been shut down. there have been reports of a shooting via our partners of sky news in london of a shooting at the train station there. the entire transit system has been shut down. also the state department in this country has just issued an alert to all u.s. citizens that are in munich to stay in place, to get shelter, and also they are trying to find out from local authorities if any americans are part of this attack or have been injured in any way. but again, six confirmed dead by munich police, and they are also telling everyone to stop live streaming images from this scene. facebook putting checks in place to make sure these images don't get out to the world. ashley: still no suspects in the custody. cheryl casone, thank you for following that breaking story. switching gears now, we are heading towards the last hour of the trading for the week. let's take a look at the markets for you, finishing or trying to at least on an up note although
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it be very modest. both the dow, the s&p and nasdaq, as you can see, up anywhere from a quarter to half a percent. joining me now, john lonski, chief economist at mood duh's, and jim by january coe. john, let me begin with you. this is a market that took a bit of a breather certain hi in the last couple of days, but i get the sense it just wants to go higher. would you agree? >> well, it wants to go higher as long as it believes interest rates are going to remain low and as long as it gets support from equity buybacks. ashley: jim, so it appears for now that the fed remains on the sidelines and investors looking for yield. i would argue that the u.s. equity markets are the only place to fight it. what it's turned out is brexit was a big positive for the stock market. what it did was it put central banks in a near panic mode. they're talking about easing, no
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rate hikes here for a long time x there's no change in the economy. so if you're just going to pump for sugar into the system, you're going to wind up with higher stock prices, and that's exactly what we have. ashley: jim, just to follow up, there are those that argue this is an overheated market due for a pullback. would you agree? >> yeah. by most of the valuations, you're at the second highest valuations in the last 80 years, the only one that was higher was 2000. most of the metrics are now solidly higher in 2007 when the market peaked. this is not a cheap market, full stop. it is, depending on how you want to measure it, overvalued or very overvalued. pwxpóxwpxpwéwpóto pump sugar and the market's going to continue to go higher, and i think they will over the next few months. ashley: and what's interesting is all of this is happening against a backdrop where it feels like the world's on fire, but the markets have been unaffected. what would it take for these markets to be knocked down?
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because it's been extremely resilient. >> well, i suppose we have to reach that point where a longer stay by subpar profitability if not shrinking profits, let's not forget we're setting record highs with equities even though profits are still sinking. if we reach that point where soft profitability prompts layoffs, that slows down consumer spending, the party's over for the equity market and the economic recovery expires. ashley: you know, that's a good point. what are the latest earnings telling us, jim? tóéwtótwpwéwxóéwpéw
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more stimulative, and that's what i think you get that perverse bad news is good news reaction out of markets. actually it would be good news that ends this rally, and that means that central banks stop. ashley: josh, why are so many people still in cash? are they missing out? >> i don't think so. i think you have an overvalued market as the other guest stated. it's a risky time to dive in at this point, and i think that's a good strategy was i believe that this -- because i believe that this economic recovery is running out of momentum. it seems as though auto sales are topping off. we got a nice monthly jump by home sales, but growth has slowed significantly -- ashley: i have to leave it right there -- >> i wouldn't be surprised if we're looking at downward revisions of modest economic growth -- ashley: we will have to leave it right there. >> later this year.
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it could be -- ashley: all right. john and jim, we're out of time. thank you so much. we'll be right back. chantix. i had a lot of doubts going in. i was a smoker. hands down, it was, that's who i was. after one week of chantix, i knew i could quit. along with support, chantix (varenicline) is proven to help people quit smoking. chantix definitely helped reduce my urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. some had seizures while taking chantix. if you have any of these, stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse or of seizures. don't take chantix if you've had a serious allergic or skin reaction to it. if you have these, stop chantix and call your doctor right away as some can be life-threatening. tell your doctor if you have heart or blood vessel problems, or develop new or worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. decrease alcohol use while taking chantix. use caution when driving or operating machinery. most common side-affect is nausea. life as a non-smoker is a whole lot of fun.
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ashley: we are continuing to follow those developments in germany. a manhunt continues. liz claman, over to you with the latest. liz: yes. and we do have this news out of a german newspaper, build, this is the widely-read newspaper. apparently -- and, again, these reports are very fluid at the moment -- one of the gunmen has possibly killed himself. but we do at this hour, and you can see police running everywhere, murder, fear, panic gripping germany's third largest city at this hour. munich, there's no other way to describe it, folks, is under siege. this massive manhunt for three gunmen, one of them may have killed himself in the last couple of minutes. it is developing at this hour. here's what we know. munich police confirming that shots were fired at to limp ya shopping center -- the olympia shopping center. moreha

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