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tv   Varney Company  FOX Business  August 2, 2016 9:00am-12:01pm EDT

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resonati resonating. thank you, david webb and mike block. now it's all about varney and trump. stuart: thank you very much indeed. let's get at it. a direct attack on donald trump from warren buffett. now, buffett is supporting hillary clinton, but in his speech last night, he poured scorn and contempt on donald trump. watch this. >> in 1995 to my knowledge it's the only time donald trump went to the american people and he said, join me i'm a winner, and join me and invest in my company. the next ten years the company loses money every year. if a monkey had thrown a dart at the stock page, the monkey on average would have made 150%. but the people that believed in him, that listened to his siren's song came away losing
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well over 90 cents on the dollar. stuart: all right, joining us now on the phone, donald trump. good morning, mr. trump and welcome to the program. >> good morning. stuart: what's your response to what warren buffett had to say. >> well, i don't care much about warren buffett. you know, i had a public company based in atlantic city. the numbers, and if you look at atlantic city, atlantic city was run down the tubes and look at everything that's happened in atlantic city, they're all, you know, bad. i've been out of there for seven years, i had great timing, i got out and i made a lot of money in atlantic city over the years, you know, i have to look at myself, i have to look at my company and i made a lot of money, it was a relatively small public company, the only one i've ever, i believe, and it was just a company waist-- based out of atlantic city. i did well in atlantic city, i took a lot of money out of atlantic city, which is what i'm supposed to do, i'm a business person. made a lot of money and i did well during the good times
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there in atlantic city, but then, times started going very bad in atlantic city. ceasar's is bankrupt, you look at all the bankruptcies in atlantic city and look at the homes and numbers. they built the wrong convention center in the wrong location i was telling them don't do it, don't do it. they built in the wrong location, they didn't build the airport, supposed to build a wonderful airport, it never haimoud. they made a lot of mistakes there, i got out seven years ago and, you know, my timing was good because atlantic city had a hard time, very hard time. stuart: is this your counter punch? a lot of your supporters don't want you to take the bait with every provocation, was that a-- >> no, there's no counterpunch. i'm not listening to what -- look, warren buffett has been a fan of-- he's a democrat, been a hillary fan for a long time and i think that's fine. hillary is a disaster. she lied over the weekend to fox. i mean, you saw that, to chris wallace and lied over the
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weekend, i'm sitting there listening to that interview and i couldn't believe it the way she talked. you just heard the fbi director say she lied and she said no, she didn't, he didn't say that. and it was a total lie. even "the washington post" gave her four pinochios, which i guess is their ultimate. but she is, you know, she's a liar. there's no question about that. lies about everything. in fact-- how she got away-- >> the media-- the media is still looking at the khan thing from last thursday. >> well. stuart: and now you've got warren buffett. this is a distraction, your message about bringing prosperity to america is not getting through because of these distractions, when you take the bait with your critics. >> well, no, but you asked me a question what do i think. i could say i have no comment. i'd rather make a comment on it, but you're asking me the question when you ask me, i gave you a quick answer. atlantic city has always been a tough investment for a lot of
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people, if you look at other companies, and you look at, you know, where they are with atlantic city, atlantic city has been-- over the last 10, 12 years it's been a tough place to invest. that's fine. i go the out of there efrn is years ago, all i'm doing is trying to respond to your question. >> hillary clinton has a five year, 275 billion dollar infrastructure plan and will create jobs and she says the biggest job creation program since world war ii, what's your plan? >> where has she been the last 30 years in jobs. the biggest job providing program would be to renegotiate nafta and not sign tpp and where they're going to take all the jobs out of this country, but my plan is renegotiate nafta, make it good or get out of nafta. i want to bring our jobs back and make it hard for our companies to leave our country because they're fleeing. as you and i are talking, companies are negotiating in ohio, i know one, as an
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example, but in ohio and pennsylvania, and in michigan, to leave and to go to mexico, which is booming. mexico is booming. you know, stuart, i say this very quickly to you, but i have a friend to builds plants all he does builds plants one. biggest in the world and he says you have to see what's going on in mexico, building the biggest and most incredible plants in the world. how are you doing in the united states? not so much. stuart: now, we've not yet seen your detailed economic plan, but as i understand it talking to steve moore who helped write it, tax cutting for corporations and individuals is at the heart of that prosperity plan. is that accurate? >> sure, sure. and very true. hillary's going to raise taxes very, very substantially, she's got one of the biggest tax increases ever. and i'm doing the biggest tax decrease. so, of all of the people running, including republicans and democrats, mine is the biggest. we're bringing rates down to 15%, we're bringing them lower
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for individuals, and of everybody running we have the biggest running, spurring growth, tremendous growth and get rid of the complexity of the tax code. it's ridiculous what's going on now, people making not even a lot of money have to go and spend $500 to see h & r block or somebody. it's absolutely insane. so, we're simplifying the tax code, reducing-- we're the highest or just about the highest taxed nation in the world. i'm bringing taxes way down, i'm bringing taxes way down. i'm going to make it possible for companies to take their 2 1/2 trillion dollars back and bring it into this country, which right now it's prohibited, they can't do it. we have a great plan and we are going to rebuild our infrastructure, because without-- by the way her numbers is a fraction of what we're talking about. we need much more money than that to rebuild our infrastructure, our roads. stuart: how much for infrastructure? >> i would say at least double her numbers and you're really going to need more than that. we have bridges that are falling down.
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i don't know if you've seen the warning charts, but we have many, many bridges that are in danger of falling and-- >> where does the money come from? if you're talking close to a trillion or 800 billion or close to a trillion, if that's the number you're talking about, where do you get that money from? >> we're going to go out with a fund, make a phenomenal deal with the low interest rates and rebuild our infrastructure. >> who would put money into the fund. >> excuse me? >> who would put money into the fund? >> people, investors, citizens would put money into the fund and we will rebuild our infrastructure with that fund and it will be a great investment and it's going to put a lot of people to work. we need jobs because if you look, you know, the real number is not 5%, probably closer to 20%. because people have given up looking for jobs. we need jobs. we need jobs. you look at the inner cities of our country and i mean, you have black unemployment, youth of 58% unemployment.
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and nobody's ever seen numbers like this. stuart: what kind of rate of return would you offer. if i wanted to put money into this fund as a private individual, what do you offer me in return. >> these would be bonds, stuart. these would be bonds and sold as bonds. so we'd do infrastructure bonds for the country, from the united states. we do to infrastructure bonds. well, since we have to fix our infrastructure, but we have to fix it without costover runs and get it done properly. i'm building the old post office on pennsylvania avenue, we're under budget and ahead of schedule by over a year. that's the way we have to build. you can't have-- i just left an area where they have a va hospital that has a $1.2 billion cost overrun, okay, and it's still under construction and don't know what's happening. they've totally lost control of it. it's a va hospital, 1.2 billion in cost overruns. it's ridiculous. the whole thing should have been built by a fraction of what they're talking about for the cost overrun. nobody with build better than i can, and nobody knows construction better than i can.
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i have great relationships with the people that are going to do the work, and they have the wrong contracts. and they may have a system that inspires cost overruns and we can't do that. stuart: if we did cut taxes for individuals and for corporations, and we had a huge infrastructure fund, would that give us 4% growth or better? >> i think we'll get better than 4% growth. don't forget, just the 2 1/2 trillion which i actually think is $5 trillion. all of these companies have outside of the united states, and you know about corporate inversion. a lot of companies are leaving in order to get their money, they're leaving because taxes are too high, but leaving to get the money. they can't bring the money back in. they have money outside of the country and they're leaving to get their money because they can't bring it in. just bringing that money in will be tremendous, tremendous. stuart: a lot of people, i know, some people on wall street, they've got these dire predictions what happens to the stock market if you're elected, a lot of people are saying it
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goes straight down. >> what's your response to that? >> i think it's going to go great. we're going to spare a lot of things. i built tremendous wealth for myself, i've been doing it for myself, but i built a tremendous company with some of the greatest assets in the world, some of my assets, assets in the world, they have very, very low debt. i've had it both ways, i like debt, leverage aj -- leverage and debt. stuart: are you invested in the stock market now? >> i did, but i got out, very good timing, but i've never been a big investors of the stock market. stuart: for the average guy, small investor would you say put your money into 401(k) money into stocks? >> i don't like a lot of the signs i'm seeing and i don't like what's happening with immigration policies. i don't like the fact that we're moving tremendous numbers of people from syria are coming
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into this country and we don't even know it. thousands of people, thousands and thousands of people. there are so many things that i just don't like, what i'm seeing. i don't like what i'm seeing at all. look, interest rates are artificially low. if interest rates every seek a natural level, which obviously would be much higher than they are right now, you have some very scary scenarios out there. the only reason the stock market is where it is is because you get free money. i mean, me, too. i'm-- i have very few loans now, paid off large amounts of debt, but i tell you what, i get offered loans from banks at almost nothing. you feel foolish not taking the money. stuart: okay. well, donald trump, thank you very much indeed for joining us on "varney & company" this morning. much appreciated. >> thank you, you're terrific. thanks a lot, stuart. bye. stuart: much more on mr. trump and what he had to say throughout the rest of the program and also by the way, donald trump's daughter ivanka is going to sit down with greta
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van susteren on the record 7 p.m. eastern time tonight. all right, we'll be back in a moment.
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>> all right. tuesday morning, we've got about 15 minutes to go before the market opens and ever so slightly lower at that opening bell. the most important number of the morning is probably the price of oil. right now, we're at $40 a barrel and remember, yesterday, we dropped to 39. the market has been going down along with oil. oil up this morning, 40.40, but that's all we've got. the price of gasoline, 2.12 per gallon and it's going down. better profit as the parent company of the discovery channel that will be discovery communications. strong growth across all its u.s. networks, doing well across the board. animal planet, oprah's network doing well and the stock will be up significantly this morning. new revelations today on hillary clinton's e-mails. according to wikileaks, hillary knew the u.s. was sending arms
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from libya to syria in 2011, but she denied it under oath to senator rand paul in 2013 during the benghazi hearings. and julian assange says he has dirt on hillary with and he'll release it slowly with a big surprise in october. we'll ask the judge. and hillary clinton getting a bounce from the convention, head to head matchup. she leads trump 52-43. that was conducted by phone after and maybe trump's counterpunching giving hillary a bump and maybe the convention, too. and here is what mr. trump said about the jobs and economy. >> i'm doing the biggest tax increase, so of all the people running including republicans and democrats, mine is the biggest. we're bringing rates down to 15% and lower for individuals and of everybody running, we have the biggest--
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we're going to spur growth, tremendous growth and we're going to get rid of the complexity of the tax code. it's ridiculous what's going on where people making not even a lot of money have to go and spend $500 to see h & r block or somebody. it's absolutely insane. so we're simplifying the tax code, we're the highest or just about the highest taxed nation in the world. i'm bringing taxes way down, i'm bringing business taxes way down and i'm going to make it possible for companies to take tear 2 1/2 trillion dollars back into the country and right now it's prohibitive. here here is an economics professor from university of maryland. you've heard what mr. trump said about cutting taxes vigorously across the board and i hope you heard about the fund he would establish so that ordinary individuals could invest in it which would then rebuild our infrastructure. what do you think about that fund? good idea? >> i think it's a great idea. infrastructure is in terrible shape and needs rebuilding.
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the national treasury can't handle it through taxation, so if we can do it through an investment fund, wonderful. stuart: i don't know what rate of return individuals would get if they put their money into that fund. it couldn't be a very high rate of return because interest rates are very, very low. >> that's true, but we'd have to see how he provides a return. just interest on the debt, out of the treasury and so forth, we have to have more details. that's always the case with mr. trump. stuart: but the tax cuts across the board, do you think we'd get 4% growth or? >> there are four legs, tax cuts, entitlement reforms required with them with the house. and infrastructure and regulatory reform we do those things and we've committed to those things, we will grow. hillary will take us in the opposite direction and we won't grow. stuart: stay with us, peter, for the markets when they open at 9:30. the latest out of ellicott city, maryland. the devastating flooding could
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takes months and cost hundreds of millions of dollars. the town is about 14 miles west of baltimore. it saw more than six inches of rain in two hours. two people died, hundreds of cars swept away. the city is prone to flooding, but they are vowing to rebuild. will you just look at that. politics, newt gingrich says the media is in the tank for hillary. more on this in a moment. if you're taking multiple medications, does your mouth often feel dry? a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too.
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>> anybody watching this campaign knows at least 80% of the media is in the tank for hillary. and the number of things that the media would be excited by if they're willing to take this seriously is unbelievable. but the only thing the media wants to do is go after donald trump. stuart: ain't that true? that's newt gingrich saying that the media is basically on hillary clinton's side and piling against donald trump. he gives them scope and gives the media ammunition. ashley: that's the problem. i think that the media as a whole is biased towards democratic candidates and especially in this race, however, he can't stop taking the bait. he's got a very thin skin. stuart: this morning he tried hard not to.
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and rolled the warren buffett sound bite and defended his actions in atlantic city, but didn't attack warren buffett personally, he did not do that liz: he did not. it's fortunate because the republicans tend to be open to listening to economic ideas and what will move the country out of the foul, rotten move it's in. the democrats do not. they're a wall of opposition to any new ideas and that's what donald trump is basically saying, this country is frustrated. we've had eight years of obama and that's why people are listening to socialists like bernie sanders. ashley: he has to focus on the economy and terrorists and he's gold. he can't help himself going off on a tangent. stuart: i said to him, the news stories of the day favor him, e-mail scandals, the terrorism and the poor state of the economy, but we're distracted by what the media serves up to us, which is always going off donald trump liz: the reason we're in the fix we're in with $20 trillion in deficits.
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the media doesn't cover it properly, period, end of story. stuart: that's true liz: yes, you're right, donald trump does go on tan gents, falls for the wait and, if he just stuck to the mood of the country he would be fine. stuart: look what he laid out on this program 20 minutes ago, tax cutting across the board and fund for private individuals for structure. do you think that will get covered. >> the deal for infrastructure bonds has been out there and hasn't gotten coverage. stuart: and break in for ford motor company. they've got sales numbers and they're down compared to july of last year. the stock has been losing ground recently. the market overall, the dow industrials on track for the 7th down day in a row and we're covering your money, of course. moments away from the opening bell. stay there, please. lots going on. what powers the digital world? communication.
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tree and to all great. we have 30 seconds to the opening bell. we're expecting a slight downtick at the opening bell this morning 10, 20 points. the price of oil going up here that should mitigate any losses
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for the dow industrials. there is a relationship here. stocks down when oil is down. we had $39 a barrel for oil yesterday and not not good news for the market. we've been than seven days in a row at the opening bell. the opening bell two seconds away. 930 eastern time ever so slightly lower. we are down five points in the early going. more than half of the dow industrials talks on the left-hand side of the screen are down. the s&p 500 and percentage terms down about the same amount. how about the nasdaq in percentage terms roughly the same as the dow, precisely the same. whereas gold this morning? 1369. oil very important number. oil is on the rise. that might mitigate the stock market losses we shall see.
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the yield is as of now one point by 6%. individual stocks making news. cbs lowered their outlook. the stock is up 3%. better profits at pfizer helped new products like the new nerve pain drug called lyric heavily appetites, doing well. you might call this a ho-hum outlook from prague are in gamble. they make all the big names in your household. bounty, sherman, christ spirit i want to take a look at their crest toothpaste line. south white mane at home. i believe it's flying off the shelves. higher profit that i had not drops plans to further expand its about mature business. the market must clear to us that us this tuesday morning? ashley webster, listening donald. peter marie c. and mike murphy. stocks down seven days in a row.
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what do you make of that? >> the market got ahead of itself. we went into earnings season and people felt pretty good. a big selloff hit the market rallied after that and now we just get a little bit of selling in the market. goldman sachs says you should call the market. fund manager should tell the market here. there's very few catalyst to push the market higher. the market is a little bit ahead of itself. i would rather step back. ashley: gm sales for july this year down 1.9%. earlier down three. taken it on the 1% drop in sales. todd horvitz, we have heard stories. i want to go to you first hear lots of people are saying felt this market. i hear it all around. you are in that camp, too. sell it now.
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>> good morning. 2175 was my target. i am now selling the market. oil is at the bottom which is a great guy. there's also something interest in happening. there may be a rate coming here. i didn't think they would do it. you are watching the bond market, see the long end of the curve now rising. rates are going higher. looks like there's something going on data servers. an increasing rate under the last couple days. >> you heard my interview the other day at five the small investor to get into stocks right now. what do you say? >> i don't think one could call for the market. the dollar cost averaging and very good strategy what murray say recommends. also, the second half to year
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will pick up hillary clinton. the second half of the year is very positive. the gdp report was much more good news than bad. the economy is stronger than the topline number indicated in stronger profits in the third quarter. train to show me face the good they are testing ads on facebook life. that is a big deal. >> made video ads. you are watching facebook life forecast up to 15 minutes. he never wanted to ruin the experience and the meadow. >> that could be a very big deal. everybody sending video around, live streaming. ashley: advertisers don't get a choice of where these things there. the earlier year on something tragic.
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>> relies streamed facebook. i don't think any ads popped up. >> right on the cutting edge. we run a venture capital fund. the way people consume content. people want to see you live. i don't think the market knows the best way to advertise the nowadays. it seems to me to be a no-brainer. individual companies. here we go again and higher sales. the market kind of, not exactly taken up 85 cents. the cruise company, don't do this. they gave the downbeat outlook.
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better profits downgrade the stock sank 4.8%. higher profit and revenue at discovery communications. liz: the revenue up 3%. net profit up 43%. the stock has been in a world of pain a little bit down nearly 70% since 2014. it posted a solid e. n. i u. hate hearing that. earnings are up across the board. they've got a nice, nice grouping a channel they are. train to smith and once in your lifetime high. nicole, give me the story. >> first of all, you can see 69, 74. smith & wesson that 3022. pennies away from a lifetime high again.
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what we see in its demand and background checks. demand for sale 15 months in a row of record demand for sales. right after san bernardino, 3.3 million background checks with all the terrorism with gun violence and also police shootings. they are worried about further legislation of gun control. then you have everybody on the other side. these gun stocks are soaring. >> 69. got it. thanks indeed. earlier this hour there is a concerted effort to undermine trump as a business executive. go around the block here. mike murphy, there was this effort to undermine the guy. take away his credibility and distract from his plan to restore prosperity. >> absolutely. i don't see it as any surprise.
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you don't hear a lot about hillary's negatives. you hear a lot more about trumps negatives. whether you love them or hate them, he's a successful businessman. he has more money than most of us on the panel. the media tries to discredit them. his new plan today, whether it works or doesn't work, that is interesting. stuart: that may go to peter marie c. se/30 commented, donald trump is going to slash tax rates across the board for individuals and corporations and he wants to start a fund which ordinary individuals can invest and a $3 trillion to then go out and rebuild the nations infrastructure. how does that sound is a growth plan? >> let's look to history. one was one of the greatest achievements of the night
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century, the transcontinental railroad. the u.s. government didn't build a railroad. the private sector day. it's a great idea. time and time again, big projects have been undertaken by the private sector whether it's creation of the internet, network of airlines and airplanes and so forth. this is necessary and it's a great idea. >> he would renegotiate the contract. train for a trump tells you how it's going to finance it. hillary clinton does not talk about it. it's big government, but socialist ideas in a salad spinner and now comes these ideas paid for by the u.s. taxpayer. stuart: i also asked him about how it's going to get to growth of 4% or better. cut tax rates across the board. do you think that would work? the
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>> i think that's an outstanding idea. any great war war, what is happening you have to rebuild. it is a boom for the economy. if we rebuild america that will be a boom for the economy. the middle class will go back to work. the guys that can't work right now go back to these jobs because their machine tool guide. they can build this amount would be great for the economy. we get out of all the trouble. stuart: mike murphy, what a term presidency be good for a stock market? the >> initially long-term cutting taxes would be a positive. stuart: we are 10 minutes into the session. thanks for a good performance this morning. 10 minutes in. where are we? down 33 points. now this, wikileaks founder julian assange says he has hacked e-mails that prove hillary clinton not only lied under oath, or provided arms to
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jihadist including isis in syria. judge andrew napolitano on that next. ♪
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stuart: tuesday morning, modified seven days in a row. 35-point.this state. wikileaks founder julian assange says he can prove hillary clinton lied under oath when she claimed she didn't know about weapon transfers in libya prior to the pain as he attacks. roll tape. >> it's been in news reports the ships have been leaping from libya and they may have weapons. i like to know the annex that was close by where they were
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involved with procuring, buying, selling, obtaining weapons and were any transferred to other countries, turkey included. >> you will have to direct that question to the agency that ran the annex. i will see what information is available. >> you are saying you don't know? >> i don't know. stuart: all rights. judge napolitano is here. everyone can understand what you say is hillary clinton's lie. >> killer clinton persuaded president obama to let her conduct a secret war in libya to get rid of nomar could not see. it was to arm militias to foment a civil war against gadhafi and bob the libyan government be in nato. the president took care of the bombing, she took care of the army. the cia and other intelligence agencies were turkeys are not good people. these are terrorist groups.
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it is going to come back to harm us. she turned a ear and permitted the flow of arms into these groups. one of these groups killed ambassador stevens. with irons that she had authorized. there was a humane and a nato embargo at times with the secretary of state having the ability to pierce the embargo and allow some arms to go through. stuart: now we are at the stage for wikileaks as they will release the mouse proving hillary lied. >> all of this is connect it. all of this is connected to the attack on the dnc e-mails, which the clinton campaign and the obama administration told us was done by the russian. over the weekend a 30 year veteran from the nsa says that wasn't done by the russians. i was stunned by the nsa because they have such antipathy towards mrs. clinton because of this because she permitted arming of
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terrorists groups and americans died as a result of it. stuart: so far, the media has distracted attention away from what you call a lie towards the problems donald trump has. if the e-mails are released, there it is in black and white, the absolute lack the absolute lie, will they had in the imagination? it may make a difference in the election. >> what will it take for the pro-clinton media to realize that they need to expose the truth? we saw that yesterday when the washington post which wants her to be donald trump gave her for pinocchio's porter interview with chris wallace where she lied boldly and blatantly. stuart: last one, julian assange says there will be an october surprise right before the election. >> whatever you think, every time he promises, he delivers. usually under promises and over
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deliveries. he readily admits he wants to prevent mrs. clinton from being elected president by exposing the truth and he will expose at strategic times in the next 98 days. i wonder if they will cover it. stuart: judge, stay there. right now i want to digress to venezuela. or is it top venezuelan officials spotted with luxury goods. train for this socialist country, there is no shortages of luxury watches. the video if you are talking about are people eating rotten food out of garbage bags and food trucks and areas writing continued to want. we are talking 15 meters tracking the luxury watches worn by the likes of nicholas madura around the country. rolex, one block half a million dollars worth of luxury watches.
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that's one page. stuart: taking pictures of the leaders where they are exposing the watch on their arm. look at this. liz: nicholas madura is wearing a nearly $1000 watch. one guy sporting a $25,000 watch. these royal oak watches. we also hear from locals on the ground who are tracking this comment to that the venezuelan leaders are building mansions made out of marble. a lot of marble being shipped. stuart: did me another socialist society everyone is equal, but some are more equal than others. i think george orwell said that. liz: milton friedman said they would run out of sand. by the way, bernie sanders has yet to weigh in on an essay that. stuart: let's change subjects dramatically. a dodgers ball girl saves the
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fan on the phone from taking a line drive. they are on the phone. this speed the ball was traveling back, close up, please. 108 miles an hour. lucky fan, excellent catch. round of applause. the department of homeland security granted amnesty to 8000. migrants in america until 2018. the judges still with us to comment on that in a moment. ♪
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stuart: calls come in the department store. goldman sachs. goldman sachs fifth all-caps-off. they say it will drop to $33 a share. down 4%. the department of homeland security has granted temporary immunity and benefits for thousands of ceiling migrant all the way through the end of 28 team. the judge is still with us. first of all, does the president had the authority to say you're in, you stay amnesty 8000. >> the president has the authority to do that with individual cases in the instance of hardship. the president does not have the
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authority to do it for large groups of people because he was enjoined from doing it by tech this judge upheld by the fifth circuit in the supreme court declined to interfere. he's thumbing his nose at the supreme court for basically doing what he said they couldn't do. stuart: each one of these 8000 as a separate individual case of hardship in each and every case. >> the department of homeland security would have to examine at a hearing each one of those cases which they were not going to do. when he does this, when it says 8000 on documented alien with requires the states in which they live to provide the emergency room. they are, education, health and safety benefits. correct. that was the linchpin for the argument against his changing the immigration laws because if
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you make these 5 million people stay, we will spend money we haven't budgeted. reduce 5,008,000. stuart: to the states have any choice? >> file a lawsuit. and they might prevail because when texas another 25 states of the president, we know they prevailed here but politically those states will face a humanitarian crisis. we don't care. we are financially responsible. we don't want them. >> the president can change the law. the president wants these people to stay. let him pay for it. stuart: to the states know which states are going to be having to take the 8000? >> i think they do. new jersey is aware. stuart: will it be done to defeat us in on what the circumstances that each of the
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8000 s.? >> the information would eventually become public to the states can find it. the state still have to pay. it doesn't cost the fact that nicole. the feds can print on the cash they want. stuart: all right, judge. are you coming back in the 11:00 hour? will have you. brand-new sound from donald trump. i spoke to him about isis in terror when we were off the air. part of that interview coming up at the top of this hour.
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. stuart: it's coming up on 10:00 on the east coast. it is 7:00 in the morning in california. in case you missed it -- donald trump did not take the bait. last hour, i asked him to respond to warren buffett's scathing attack on him. he decided to defend his business record.
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warren's a democrat, and he supports hillary, that's fine. he didn't take the bait. trump did make news when i asked him about infrastructure spending, promising double hillary's proposed number of $275 billion worth of spending, roll the tape. >> we'll go out with the fund. make a phenomenal deal with the low interest rates and rebuild our infrastructure. we have no choice. stuart: who would put money into the fund? >> excuse me? stuart: who would put money into the fund? >> people, investors, people put money into the fund. the citizens put money into the fund. we will rebuild our infrastructure with the fund, and it will be a great investment and put a lot of people to work. we need jobs, if you look, the real number is not 5%, it's closer to 20% because people have given up looking for jobs. stuart: to repeat, that is a new plan, details i have not heard before. a new infrastructure fund with money coming in from individuals and issuing bonds
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to rebuild the infrastructure of america. joining us washington times political columnist charles hurt. i have not heard that before. i don't think you had either. sounds like a plan that gets the debate back on track of how do we get to prosperity. >> i had not heard any of the details either. this is where donald trump is at his best, when he's kind of conjuring up plans like this, talking about infrastructure, talking about things that people have a lot of faith in him. people love to -- democrats love to make fun of him about big buildings with names on it. in gold. but that is something that people -- that's a positive for him. people view that as being something good. they like people who build things. one thing you can't deny is donald trump does build things. we spend so much time talking about foreign policy, talking about the terrible things going on around the world. hillary clinton's e-mails, all of that stuff is vitally
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important. but as you know, this election will turn on the economy. it's going to -- what people vote for is in the pocketbook. stuart: therefore, donald trump has to stop taking the bait. >> yeah. stuart: seriously. the media is universally opposed to trump, they try to provoke him at every opportunity, and trump so often responds to the provocation. he's got to stop doing that. >> yeah, he is impulsive and when he's attacked, he cannot resist. and you know, i feel like this whole thing with khizr khan is somewhat of a media -- something that the medias proportion, but your point is exactly right. he shouldn't have taken the bait. he should know better than to try to -- when stephanopoulos tried to bait him on the business of what sacrifices have you made? you just say, there's no
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sacrifice like the sacrifice that the khans made and move on. i think the part of the thing people like about him, he's so authentic. he obviously didn't go to political answers training school because everybody knows how to answer that question except donald trump. and he's always fighting and people like that. stuart: who do supporters really want? do they want a nailed-down, reined in donald trump, a professional donald trump or unleashed where he just does his thing? i suspect it's the latter, but the latter will never get him the middle -- that's the wrong word. give him problems with the middle ground. >> the problem is, and i agree with you, and it's the unleashed donald trump that is the most entertaining and most enjoyable and most effective, but there are certain circumstances he needs to learn to rein it in a little bit, and as you say, don't take the bait. i'm so glad you tested him, needs to be tested again and again and again until he stops
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taking the bait. stuart: you're right. i offered it to him. didn't quite take it. he talked a lot about his atlantic city experiences. >> i don't think he's going to be applauded by the media for that, though. stuart: no. i expect the media to pick up on what he said about his atlantic city experiences and investigate further his casinos. any excuse and they'll go after that as opposed to looking at tax cutting, a fund to rebuild infrastructure, prosperity and growth. they won't look at that, i don't think. but we shall see. >> not nearly as interesting as all the other side shows. stuart: you're one of the few exceptions in the media, charles. that's why you're on the show. thank you very much, charles, appreciate you here. i'm going break away from politics, check the markets. we are down 50 points, the dow is back around 18,350. down .2%. the s&p 500 down .3%.
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oil, an important number, $40.82 a barrel, it's up today, that may be helping the stock market a little, but not that much, evidently. procter & gamble, better sales, better profits. stock touched a 52-week high earlier today of 8715, still up there at $86.86. testing the $12 level. general motors sales down almost 2% last month, testing the $30 level. better profit at the parent company of discovery channel, discovery communications, doing well across the board. shows include shark week, deadliest catch, they're doing well all right, that's a gain of 6% in stock. close watch on gun stocks, why not? smith & wesson near a lifetime high earlier. sturm ruger reports after the bell today.
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both close to all-time highs. new this hour, we promised it to you, donald trump on the u.s. beginning a new round of airstrikes against isis in libya. this is brand new from trump. roll that tape. >> would you react to the news of the day which is now we are bombing isis in libya. do you approve of that? >> i do. we have no choice but to bomb them. they've taken over libya. that was another one of hillary clinton's beauties. they've taken over libya. no good. we have to bomb them. stuart: would you extend the bombing if you are elected president? >> you have to do what you have to do get rid of isis. it's a terrific problem and a horrific -- we should have never been there in the first place. i was opposed going into iraq, we unleashed a monster in the middle east, yes, i would bomb them, you have to do what have you do to get rid of them. stuart: in france, they closed down 20 mosques associated with radical islam, would you do
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something similar in america? >> you see what's happening in france, they have no choice. i say we have to be vigilant, and part of the vigilance is looking at the mosques. stuart: you are staying with a restriction of anybody coming into the country from a terror zone, correct? >> that is correct. and we'll be very strong and we'll have extreme vetting. we want extreme vetting. we don't want people in the country that are going to start blowing it up. you look at san bernardino, look at what's going on, look at orlando, look at everything. it's just a mess. look at the world trade center. we don't want people in this country that have bad ideas, and i want to tell you, we have plenty of people let in this country where we're going to have problems in the future. mark my words. like we've never had before. stuart: right at the top there, donald trump said do what you have to do beat isis. fox news national security analyst k.t. mcfarland is with us. he said, look, bomb libya, do
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more of it, do what you got to do. you approve of that? he said it three different ways, with the immigration question, the europe question, about the bombing question. he said do whatever you have to do. he said use the economic weapon. take away oil wells, take away their ability to make war. he's talked about using troops in the middle east, not necessarily american troops but allies in the middle east. he's always talked about russia. we tried everything for 15 years and nothing's worked. radical islam is in more places in greater strength than ever before. and if trump keeps saying do what you got to do, i'll do whatever it takes, that means economic weapon, ideological weapon, immigration, military, the whole range of a national security power like we used to defeat the communists and the nazis. stuart: seems that trump has a proactive approach. go do it. this is a policy of actually doing something, whereas the administration at the moment
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seems to be more defensive, not doing something as opposed to doing it. is that about how the ball stands at the moment, the game stands? >> i think it's worse. the president is cynically using american forces to forestall defeat. in other words, he's not going to do anything to win this conflict, but he's going to make sure it doesn't fail on his watch. so ultimately he'll say george bush got us into this, the next guy said i will clean it. stuart: the media is so in the tank of president obama and hillary clinton that that message of let's go get them. that doesn't get out there. it's a part of a religious test for people coming into the country. that's a distraction from the attack of donald trump. >> the media will always twist his words. if you look at who have been successful presidents, f.d.r. masters the medium of radio. reagan who i worked for masters television. trump mastered twitter. he's found a way to talk directly to the american people
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over the heads of the media. he has to take the twitter feed away sometimes, he knows how to talk to the american people over the heads of the mainstream media. stuart: you recommend a break from twitter. may be a good idea. see you soon, thank you. warren buffett attacking donald trump vigorously. i asked donald trump for his response. we'll deal with that next. meanwhile, u.s. border patrol agency providing a safe zone for illegals, giving them a step-by-step guide how to live freely and avoid arrest. you won't believe that! and players of the mobile phone game pokemon go invading a memorial to war veterans, camping in tents on the site. a fight breaks out. we've got the video. >> i'm going call 911 now.
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. stuart: i've got new video coming in.
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this is the italian coast guard, they say 400 migrants in the mediterranean sea off of sicily. >> three rubber dinghies, and women and children crammed onto the rubber dinghies. they were saved 2900 migrants made it to the shores of italy. if you go back to the beginning, italy has taken in 400,000 migrants. 3,000 have already died in the mediterranean this year and they're coming from libya across to italy because the route through turkey and greece and macedonia is still shut down. they are forced to take a longer trip and dangerous trip across the mediterranean from libya. stuart: got it. thank you so much, ashley. big board, we are down 75 points, the decline continues, on the left-hand side of the screen, only five of the dow 30 stocks are up. the rest are down. kohl's, goldman sachs says sell the stock because it's
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going to go down 33. it's down 5%. generac, they cut their outlook. down 7% on generac, all the way back to 32. warren buffett attacking donald trump while campaigning for hillary. i asked donald trump about that. roll that tape. a lot of your supporters don't want you to take the bait with every provocation. >> no, there's no counterpunch. i'm not listening. look, warren buffett, he's a democrat, a fan of hillary for a long time. stuart: democratic strategist is with us, he did not take the bait. he did not attack warren buffett personally. is he going to keep it up? >> look, donald trump has an incredible ability to self-correct. he's done it before. how long does he stay on the path. stuart: incredible record of putting his foot in his mouth, too.
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>> 90 days to stay on disciplined message and focus. donald trump is excellent at offense, the more he confuses the issues and stays on the counterside, he's in the defensive posture he has to get out of quickly. stuart: yeah, the media is another of his opponents. universally the media is opposed. listen to this from newt gingrich. he said the media is in the tank for hillary. roll that tape. >> anybody watching this campaign knows that at least 80% of elite media is in the tank for hillary. the things the news media could be excited by if they want to take the race seriously is unbelievable. the only thing the elite media wants to do is go after donald trump. stuart: i'm sure you saw it, donald trump laid out a plan of tax cutting to stimulate the economy and a fund with up to a trillion dollars in it contributed by you and i, ordinary people to rebuild the nation's infrastructure.
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i got a bet that says the media will not touch any of the tax cutting, the infrastructure fund, they'll go after business acumen in atlantic city. >> no doubt. stuart, this is all the more reason donald trump has to stay disciplined and on message. he's going to get no assist from the mainstream media. this is not shocking, for as long as we've had a moderate republican party, we've battled institutional elite media. in the case of donald trump, it's the personality they don't like. the bigness, the fact he's willing to take on the status quo in such a way they're a part of. the mainstream media during much of the primary was actually fairly balanced between her and sanders. now that she's won it and in their minds the fbi put the matter to rest with the server, they are fully invested in her candidacy, and we're seeing that manifest every day in many ways. stuart: 97 days until the election, that's it. that's not much time for donald
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trump to rein himself, in stay on message and get to prosperity in america. his time is running out. >> yes, you are right. the reality is so unique, so asymmetric, he can maximize every moment. he gets more earned media in a day than most republicans or democrats get in a week. stuart: why is he turning sour? >> because he's offmessage. keep his eye on the prize, the victory is there. every macrodynamic points to donald trump victory, from wanting an outsider to the fact people are tired of an economy that doesn't work to failures abroad. every dynamic points to trump especially against established ruling class member like hillary clinton. he has to be able to carry the ball over the finish line because -- >> look, he's got a lot of work to do bring mainstream republicans in line with trumpism. yes or no, a lot of work? >> expanding the party to the
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populist base that rejects both parties. stuart: that is true. tony sayegh, thank you very much. get this. this is a huge sinkhole. >> crikey! >> the couple that lives in the house woke up and found that, gushing brown water. turns out it was a mine shaft that had been put there years ago then abandoned and didn't know anything about it. >> now they got a swimming pool. >> surprise! >> wikileaks founder julian assange says hillary clinton lied under oath about arming jihadis, he can prove hillary knew all about it. more on that in a moment. i have asthma... of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece
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. stuart: better sales at molson coors, the brewers, it is down a fraction. please remember, this stock is up 43% from this time a year ago. higher profits at the cruise line, royal caribbean, but they get a downbeat outlook. investors don't like that, stock is down 5.5%. watch this. new video, players of the mobile phone game pokemon, playing the game in a veteran's memorial park. angry veterans confront the pokemon players. watch this. >> keep your mouth shut! >> you fought for a right of speech. >> yeah! i am asking you not to [ bleep ] be here. >> i am going actually call 911 now. stuart: the pokemon players in the memorial park for veterans, they pitch a tent. they're playing. the veterans come up, they don't like it. and there's an argument of free speech. >> they're saying it's
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disrespectful and i feel the frustration of the vets saying wait a minute, this is a park for remembrance and you're sulying the names of the remembrance. i don't know if you heard in, that one of the pokemon players says you fought for freedom of speech. this is what you fought for. that's where the battle line is on this. i think it's a bit disrespectful to flood this park with pokemon players when it's supposed to be a remembrance. stuart: totally inappropriate. >> i think it's inappropriate. the vets are right, there are gravestones there, not a campground. you know what i ask the pokemon players, how many relatives do you know who fought in wars for the united states? how would you feel if players are trampling over the graves. stuart: i believe the police were called. >> they were. stuart: the police can't do anything about it? >> no, it's freedom of speech. all of those things, as the player pointed out that the veterans were fighting for. i think it's disrespectful and they need to stop and think about what they're doing.
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stuart: the vet in danger of having charges against him. he slaps the side of the camera. it's the vet in danger of being charged as opposed to the pokemon players who were -- some would say desecrating a memorial at that point? >> yes, he took it a step too far, his anger. stuart: it is understandable. the big board is close to the low of the day. we're down 81 point. there is some speculation that there may be a rate increase from the federal reserve at the end of the year? >> now, fed funds futures, those are the guys that bet on rate increases, one in three chance in december. down about half. stuart: down 80 points on, that i suspect. france, desperately trying to stop the spread of terror within borders. officials shutting down 20 mosques. i asked trump whether he would do the same. i'll bring you the sound bite in a moment. the department of homeland
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security granting temporary amnesty to 8,000 refugees. we'll bring that you in a moment, too. back in a moment.
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. stuart: look at this, seven days in a row, the dow is down, down 70 odd points. ash, what's going on? >> recent economic news that's better than expected but raising the expectation that the fed could raise rates. they're of the belief they're not going to do it before the election, i.e., in december. stuart: one little rate hike will ruin the rally. >> i think so. it's a slippery ride. august is the worst month behind january for the stock market. we're in the in-between period.
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stuart: profits would have to go up significantly to justify 19,000 or 20,000 on the dow or the world central banks have to print a whole lot more money. >> bingo. exactly right. stuart: then this, wikileaks founder julian assange can prove hillary clinton lied under oath regarding knowledge of gun running between libya and syria. ric grenell is spokesman at united nations. ric, spell out the lie. most people have not been following this in detail. what is the lie that's central to what hillary clinton said, spell it out. >> look, we don't know the evidence quite yet what assange has, and i think we are all eager to see this. the state department works very closely overseas whether it's in an embassy or consulate, with the cia, everybody knows that. and there are charges that there was a gun program that was going on in libya,
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specifically in benghazi, and that hillary clinton, for sure, knew about this, and under oath was not truthful. look, she's in a difficult situation because if it's a public hearing and it is classified information, she can't really talk about it, what she should do is ask to go into a private session with everyone inside the room that has top secret security clea or, she should work with the committee to explain this. she chose not to do that, stuart. she chose to completely lie about knowledge about this. now, if she didn't know, it's shocking that a secretary of state didn't know what was going on in consulates and embassies. and if she -- if we find through the leaked e-mails that she knew and lied under oath, that's another serious lying problem for the democratic nominee. stuart: well, assange says he's got evidence. he's got the e-mails and he's going to release them strategically.
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he also says he's got an october surprise. it's rather ominous for the clinton campaign, isn't it? >> look, this is a very difficult situation because i'm 100% against trying to hack u.s. government information and use it against our politicians. that is wrong. i've stood firm against what wikileaks has done. i think it's a big violation and i think people should be prosecuted who had security clearances and who allowed this information to be put out. but, look, the irony and the hypocrisy in the political arguments here against hillary clinton are she's the one who set up the server, put herself into the vulnerable situation, she's the one who told us that russia did not hack her personal server, and now she's claiming that the 33,000 missing e-mails are just about yoga and personal stuff. if that's true, if these 33,000 e-mails were just about personal stuff, then she should
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be calling on julian assange to clear the air and release the e-mails. by the way, i assure you china, russia, the fbi. stuart: she can't do that, but look -- >> it's about transparency stuart. stuart: does it matter to voters? so far it's brought her down in the trustworthy index, so to speak, but it's not undermined her support. it simply has not. >> well, i would argue this some of that is because her opponent has been stumbling a little bit and it's not a pro-hillary clinton vote at this point. most people are voting against donald trump and what he says rather than voting for hillary clinton. that's an opening for donald trump. if he can get on message and stay on message and show -- you did a great interview with him about jobs and the economy. that's what people are going to vote for.
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stuart: can he stay on message? not take the bait? that's what we've been talking about all day long. only time will tell, in the next 97 days, can he do it? ric, thank you for joining us. >> no problem. stuart: i want to take to the cnn-orc poll, shows hillary retaking the lead nationally bigtime. clinton leads 52-43. "national review" is with us now that is a big bump, because of the success of the democrat national convention or chasing down side-by-side stories. >> she had a bad week. the convention speech was horrible, flat-out lying, making inconsistent statements about e-mails again. whenever there is a possibility of bad hillary headlines, trump decides to steal the thunder by saying something awful about gold star families, for example. and he routinely does. this that was a bad one. it doesn't always have to be a
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bad one, people just read headlines, they get news on social media and he's not careful about this stuff and it distracts. what did she do this week that could be a bump that could be positive, sorry. stuart: good rhetorical question. the democrats along with the media are trying to convince the voters that donald trump is not prepared emotionally, temperamentally or morally, he should not be the president. regardless of his policies, regardless of hillary's policies, they're trying to undermine his ability to be the president, legitimacy as president. so far that is successful. >> right. with the mexican judge comments, dismal jobs report he could have been talking about. he needs to stay on message, talk about what he's going to do and be aware of the fact when he makes the statements that are outrageous, they help him, but they will take away from having headlines about hillary clinton that are negative.
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stuart: friday morning we received the jobs report. >> right. stuart: it is the worst recovery from a recession since 1949. what was the media -- what was everybody talking about over the weekend? the khans. the story from thursday night. >> exactly. so hillary is able to say she's the next obama and that's great. the obamas give beautiful speeches at the convention, no one is looking at the report because everyone is too busy talking about what he said about the family. stuart: do you think he can rein himself in? stop taking the bait. skied him that this morning. >> sometimes it seems like he can for a while. he falls right back into it. it can be a lot less than attention because someone reads a tweet or headline. stuart: here's what i'm picking up from trump supporters. dismay. stay on the message of prosperity of making america great again. i see dismay on the faces.
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97 days left. that's all we've got. >> as steve moore said, it's really hard for an incumbent party to win re-election when you've got flat lining 1% growth. that's not the message that's getting out there. stuart: well said. >> historically bad recovery. stuart: kat timpf, haven't seen you for a long time. >> i miss you guys. stuart: this is interesting. background checks for new gun sales, a record high in the month of july. the stocks, gun maker stocks are down today. close to all-time record highs recently. that's accurate, i think, the call at exchange? >> sure, when you are at smith & wesson, $80 was high, there is sturm ruger, which was 78 for all-time high. what's interesting about the stocks, though, is that while they have worries about washington and further gun control, in the meantime, take a look at this, since president
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obama took office in his first term and worries about gun control, everybody started with a background check. demand for guns grew. these stocks soared. each of these two stocks is over 1,000% gain since he entered that white house that you see in the picture! >> whoa. >> and now, it will be very interesting, donald trump versus hillary clinton, and will that trend for the gun stocks continue if hillary gets in. stuart: nicole, that was a shock. a thousand percent, both of them up since president obama walked in the white house january of 2,000. a thousand percent for both of them. >> yeah. stuart: didn't see that coming. back later. now this, the feds are warning pregnant women to avoid a section of miami which is stricken, they're call together zika zone, stricken with the zika virus.
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>> the wynnwood section of miami. a neighborhood down there. now we've got 14 people, and these are people infected by local mosquitoes. in other words, the first u.s.-borne cases in the united states. stuart: we're showing pictures of the area. >> saying don't go. pregnant women don't go. most people don't show symptoms, no vaccine, and i have to tell you, now nearly every state does have zika virus in it. only four states that do not have it so far. alaska, south dakota, wyoming and idaho, don't have zika. so the thing is we've got people infected and they travel and could bring the zika there. stuart: it's the risk though, isn't it? a young woman, you know that there are risks that will really put off traveling. even though the risk is very, very small, you still put off from travel. >> the uk put a ban advised against traveling to south florida from the uk, there's a lot of brits in south florida
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and told not to get on miami area. if you're pregnant or want to get pregnant, don't have sex in florida. is that what they're saying? . stuart: yes. there you have it. no sex, please, we're british. be a real cold fish. [ laughter ] >> moving on. france is closing or has already closed i believe 20 mosques. officials saying those mosques in france may have promoted extremism. we asked donald trump if he would do the same thing here? we'll bring you his response in a moment. and illegal immigrants given advice by u.s. officials how to live a more open and free life, once they make it to america. no fear of arrests. we'll have that next.
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. stuart: remember "varney & co." starts at 9:00 a.m. eastern sharp. here's what you missed last hour. >> we're going to have to go out with a fund, we'll get a fund, we'll make a phenomenal deal with the low interest rates and have to rebuild our infrastructure. we have no choice. stuart: who would put money into the fund? >> excuse me? stuart: who would put money
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into the fund. >> investors, people put money into the fund. the citizens put money into the fund. we will rebuild our infrastructure with that fund and it will be a great investment and put a lot of people to work. you know we need jobs, if you look, the real number is not 5%, it's closer to 20% because people have given up looking for jobs.
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. stuart: you than restaurant chain, texas road house? well, they put out a lower forecast for the future. the stock is tumbling, down 11%. that is the steepest drop since it started trading about 12 years ago. that's texas roadhouse. first thing this morning i spoke with donald trump. skid him about airstrikes in libya, which we just resumed and closing mosques. listen to this. we are now bombing isis in libya. do you approve of that? >> i do. we have no choice but to bomb them. i mean, they've taken over libya, that was another one of hillary clinton's beauties, and they've taken over libya. no good. stuart: now, earlier i'd asked
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him about what warren buffett had to say about donald trump yesterday. basically buffett said, look, a monkey could have done better at picking stocks than donald trump in the mid 90s. governor huckabee is with us now. you are an experienced presidential candidate. should donald trump rein himself in and stop taking the bait from people like warren buffett? i know you're laughing, but you know a lot of people are saying, they're looking at donald trump with dismay. why can't he get to the issue of prosperity and growing america? instead of going off down the road against the khans or whatever? >> look, donald trump has to focus on the people of america not whatever slights are said about him. think of it as a boxing match. he's the boxer in the ring. he needs to land his punches on hillary, not the guy in the front row yelling at him and heckling him because that's not his opponent. his opponent isn't warren buffett, it's not the father of captain khan.
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he needs to leave that stuff alone. he needs to fight for the people and he needs to fight the right opponent and her name is hillary, that's where he's got to put his punches. stuart: what do trump supporters really want? do they want a restrain on message like a professional politician trump, or do they want the trump unleashed that won him all of the primaries? >> well, unleashed is one thing, if he's unleashing for the american people in loss of jobs, loss of wages, for the trade deals that have gone wrong, for the total bungling of foreign policy. let him go unfiltered, say it like he wants to, let him go to the podium and take on open borders, illegal immigration because that's what got him here. when he starts taking on individuals who aren't part of the process, then he gets himself distracted. if i had been advising him, and
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i hadn't asked to, if i was and wish i had been. if this came up with captain khan he should have affirmed the sacrifice and service of this incredible young man who died for this country and should have said this, two things -- number one, two killed captain khan? it was radical islamists. donald trump didn't kill him, the republicans didn't kill him, he was killed by radical islamists. number two, who voted for the war he was in? hillary did. donald trump opposed it, and he should have made those two points and walked away and left it alone. stuart: i sense in your voice exasperation and heard that from other commentators before. governor huckabee, as always, thank you for joining us, appreciate it. >> thank you, stu. stuart: how about this? the u.s. customs and border protection agency is now advertising safe zones for illegal aliens. ashley? >> interesting, they are providing essentially a how-to
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manual on their website on where to go where they will not face law enforcement, places such as schools, places of worship, churches, hospitals, which are generally avoided for enforcement. also they say, you're not going to be bothered if you're at public demonstrations, marches, rally,ure safe there as well. stuart: why on earth would the border patrol people say this thing? aren't they supposed to keep people out? >> yeah, i don't get it. i thought that's what they're supposed to do to protect our border and nation's security. this is how you get away with break the law. it's also if you are at a bus stop or at a school event or a funeral or wedding, you won't be arrested. that's what the u.s. government is advising illegals to do is to basically go all these events. >> find a scene that has the name border protection in it.
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>> your tax dollars at work. stuart: let me bring our viewers' attention to the fact the dow is down more than 100 points. we are down 107 to be precise. 28 of the dow 30 stocks are down. only two in the green up and. isis sending a warning to vladimir putin and threatening russia. it's calling on members to carry out jihad attacks across the country as in russia. and the collapse of socialism in venezuela. desperate citizens searching for food, meanwhile, government officials are out and about buying wrist watches worth thousands of dollars. extraordinary story. more details on varney next. ♪
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the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ . stuart: good morning, mr. trump. welcome to the program. >> good morning. stuart: what's your response to what warren buffett had to say? >> well, i don't care much about warren buffett. i had a public company, it was based in atlantic city. the numbers. and if you look at atlantic city, atlantic city was drawn down the tubes and you look at everything that's happened in atlantic city, they're all dead. i've been out of there for seven years, i had great timing, i got out, and i made a lot of money in atlantic city over the years. i have to look at myself, i have to look at my company, and i made a lot of money. it was a relatively small public company, the only one
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i've ever had, i believe, and it was just a company based out of atlantic city. stuart: is this your counterpunch, sir? >> i did very well in atlantic city and took the company public, i took a lot of money out of atlantic city, which is what i'm supposed to do, i'm a business person, made a lot of money and did well during the good times in atlantic city. then times started going very bad in atlantic city. ceasar's is bankrupt. a lot of mistakes were made. they built in the wrong location, they didn't build the airport, they were supposed to build a wonderful airport, it never happened. they made a lot of mistakes there, i got out seven years ago, and my timing was good because atlantic city's had a hard time. very hard time. stuart: is this your counterpunch? a lot of your supporters don't want you to take the bait with every provocation.
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was that the counter? >> there's no counterpunch. i'm not listening to what -- look, warren buffett has been a fan, he's a democrat, he's a hillary fan for a long time. stuart: donald trump, thank you for joining us on "varney & co." this morning. and much more donald trump coming up in our next hour. he's holding a rally in virginia today. a key battleground state. to the markets, the dow lower by triple digits as investors ponder a rate hike from the fed by the end of the year. and this, some 911 operators told not to respond anonymous calls for help because of fear the police officers could be ambushed. hour three just three minutes away.
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dream to our three, here we go. any moment now donald trump full text the to the podium for a rally in what is a key
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battleground state. i spoke to mr. trump earlier in today's program. here are some highlights. she says she has the biggest job creation programs since world war ii. what is your plan? >> hillary will raise taxes very, very substantially. shall have one of the biggest increases after. i'm during the biggest tax decrease, bringing rates on 15%. bringing them even lower for individuals and we will rebuild our infrastructure. by the way, her numbers a fraction of what we are talking about. we will make a phenomenal deal with low interest rates and will have to rebuild our infrastructure. stuart: who would put money into the fund? >> people, investors. the citizens of the onion to the fund. we would rebuild our infrastructure without fun. stuart: woodpeckers 4% growth or better? >> i think we will get better than 4% growth. stuart: better than 4% growth
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good former goldman sachs partner. peter, the fund that donald trump has proposed. i've not heard of it before. and individuals could put money into it in the money will be used to rebuild infrastructure. >> there has to be a public private partnership like this. there's no way we can do it less than a trillion dollars. you have seen them in like 275 alien. nowhere near enough. stuart: with this idea of a fun, where we could put money in and that money would be used to rebuild infrastructure. without work? >> it would immediately go to every corporation, every union pension fund. now is the time for all good people to to invest in this, to come to the aid of the country. in world war ii we had war bonds. it is time for job and gave they
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should be sold to every american citizen. stuart: that would be a possibility. >> i think this is a great idea. he himself is being timid. we have been reported to be 3 trillion short on infrastructure. 1 trillion is the minimum ante to this poker game. stuart: okay, he also said if you select that the stock market would go well. that is counter to a lot of people is that the market goes down of trumpets elect it. where do you stand? >> right this minute, we broke the antenna off the market. all your early warning detection is gone. people say there's no inflation. if you live everyday spending money, things are going now. inflation being hated. the markets are copied. i'll give you one next sample. the s&p forecast of all the mls, bloomberg said that 16% growth for the next 12 months.
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profit growth. hasn't happened in the 1% growth economy. amid the answer to that and i'll tell you what the bond market is hiding. stuart: the market is copy. >> there just is not growth. how do you come up with 16% growth in the next 12 months. stuart: 18 to 90 is where we are right now. stay with her. much more in a moment. we are now losing a lot of ground. seven days and that the market has been down 112.3 dataset 18 292 as we speak. the price of oil instrumental in bringing the market down. this morning it's barely a $40 per barrel. if it touches $39 you can expect >> is no conviction here. there's nothing to keep it with a big 40.
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stuart: a triple digit downmarket. look what happens to the big-name stocks. intel, cisco, ibm, yahoo!. all of them are down. the same thing about microsoft, apple and google. the big-name technology stocks. microsoft and 16 cents. amazon down $10. google is down 350. facebook back to 122, down two bucks. the decline to the big tax, the popular big names their body or to the percentage decline in the dow. ford motor company, sales down july last year. general motors down almost 2%. both the stocks are lower. ford back at $11 per share. pfizer been helped by new products like the pain reliever derek. you see that advertised everywhere. nonetheless, down 2.5%.
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overall downmarket. you say i want to get back to this because you say wall street types say the market is looking. as of right now he would not in lies the small investor to put money into stocks right now. i guess you would agree with that. >> i would. if you look at utilities, who is going to live the next way? oil companies? i don't think so. the finance companies if they don't bump rates, how will they lead the rally? fewer and fewer people with the big names you mention will have to be the one. stuart: here is that donald trump had to say about the new airstrikes the u.s. has just launched against isis and libya. listening to donald trump. >> would you react to the news of the day that we are now bombing isis and libya. you approve of that? >> i do. we have no choice but to bomb
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them. they are taking over libya. that was another one of hillary clinton's beauties. no good. stuart: would you extend the boing if elected president? >> you have to do what you have to do to get rid of isis. stuart: mike flynn, trump supporter and author of "the new york times" best-selling book, the field of play. you just heard donald trump say yes, bombed libya. he would do it if he was president. you approve of that? >> here is what we are seeing. then for having me on. this is another example of a failed strategy going after radical islamism that is not comprehensive. we are having to react to this enemy on the global battlefield. i agree with what donald trump said. we are in a place now where we have to take a step back and look at a much more comprehensive way of dealing with this problem.
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libya is a failed state because this administration did not learn the lesson of iraq. we basically created another safe haven for the rise of radical islam is a and multiple groups and libya appeared a couple is writes again a couple of quote, unquote high-value targets is not going to solve the day. stuart: in our interview, donald trump outlined a more comprensive policy strike them over there. go after them militarily. more surveillance domestically and a more onerous and difficult immigration policy to his people come into the country in the first place. we did outline a more general policy to stop this thing. >> i would add a couple other things. we need to discredit the ideology. we need to create what i call a new 21st century alliance, which brings the arab world, the muslim world to task, brings
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them together at the leader level. we have to help them help themselves inside their own countries because they know they have a problem. those nationstates that still exist. president all cc in egypt, the king of saudi arabia. we have some other online is that we must take a look at in order to help solve the problem. stuart: i have 30 seconds left. you know this indian side. what is hillary clinton's anti-isis policy? >> is to do more of the same. there is no comprehensive policy, no comprehensive strategy. she sent this on the path that it's on right now in libya which is a complete disaster. people forget about yemen. that's a failed state in all the other actions in sera and iraq as well as the terrible refugee problem we know infiltrating inside out to include into our own country. you will see more of the same on
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her side. stuart: thanks for joining us. much appreciated. "the wall street journal" reports new york city police mayor bill bratton will announce he's resigning. ashley: a number of high-profile incidents. it takes that fixing scandal, a federal investigation into taking and bratton himself has been criticized to pay for his membership in the harvard club. also reports of confrontation and a police officer refusing to apologize. put this all together. he has been under pressure. now there's a report he's going to resign. back to the markets. check out the big board. not exactly coming back him up is down 103-point and 26 of the
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dow stocks are down. new video of the devastation in maryland where the deadly floods occurred over the weekend could take months and hundreds of millions of dollars to clean it all. where you at this? two people died. homes and whole streets destroyed. this city does now to rebuild. now look at this. luxury 58 story apartment building in san francisco sinking into the ground. it is leaning to one side. more details on that coming up i promise. the cdc issued its first-ever travel warning within the united states telling women and their partners, avoid one specific neighborhood in miami.
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stuart: the discovery channel doing very well. lots of the channels within the
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discovery operation. not the animal planet in animal planet and upper snapper, all doing very well. very much a down market today. are they swept up in it? yes. ge down 9 cents. ibm, that stock is also down 84 cents. bigger losses if bigger losses if he checked out amazon. facebook down significantly. then we have this intriguing story and very anxiety causing. the cdc issuing a travel warning to pregnant women and women who want to become pregnant sightings day away from a small area in miami because of the zika fear. dr. siegel is here. i could understand people not flying. why take the risk? >> we are talking one square mile. all my patients are saying should i go to florida, miami. it is one square mile in north miami because the 14 cases that were mosquito borne, bit by
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mosquitoes. those mosquitoes live one to two weeks and they never traveled beyond two blocks. they are not going to fly up to fort lauderdale. they're not going to make it. these types of mosquitoes are always confined to a couple blocks. stuart: how to get to that particular area? >> a traveler product in there. a little bit of standing water. stuart: i will interrupt you for a moment. president obama is giving it brief press conference at the prime minister of singapore. >> i always valued his insight, his counsel an outstanding partnership. that may say that our thoughts today are with former president and the people of singapore and praying or the stolen -- full and speedy recovery. as president, i've rebalanced american foreign policy play in a larger long-term role in the
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asia pacific, a region that is critical to our security and our prosperity. as i said this morning, singapore has played a vital role in that rebalanced. singapore supports the united states engaging more deeply than ever across the region, including the posse on an east asia summit. given its strategic location, singapore is an anchor for the u.s. president which is the foundation of stability and peace. prime minister, i want to thank you for the invaluable contribution singapore has made to a central pillar of our foreign policy. today we agreed to continue building on this progress. the u.s. and singapore are united in our commitment to advancing regional security and stability. our defense relationship remains one of the closest in southeast asia with hundreds of american ships and aircraft through singapore each year.
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as i told the prime minister, we welcome singapore's interest in purchasing the f-35 aircraft and will explore the possibility of troops training on bomb. at the same time we will continue working to strengthen regional institutions in line with the principles we agreed to earlier this year. and we've reaffirmed our shared commitment to building a regional order brought nations play by the same will send his teeth are resolved peacefully including in the south china sea. we agreed to do more to innovation among our economies. with a little over a decade, trade between our two countries has grown more than 50%. we are collaborating to jumpstart greater digital innovation and development smart cities concepts that can improve the daily lives of our citizens. we will do more to connect our
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vibrant startup community so engineering and singapore can collaborate more easily with entrepreneurs in silicon valley or austin, texas. with respect to trade an issue that stirs great passion. globalization means economies around the world are more integrated than a print job and capital across borders. automation means that goods and products can be produced with fewer workers and these forces of globalization and technology have not always benefited everybody evenly. there are fears and anxieties that people may be left behind. these anxieties are legitimate. they can't be ignored. they have to be taken seriously. we have to do everything we can to make sure that everybody shares a prosperity. we have strong rules to protect workers, to promote higher wages, to make sure our citizens have getting the education and
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the training that they need. but the answer cannot be to back away from trade and the global economy. it is here to stay. it is not possible to cut ourselves off given how integrated our economies are to try and pull up a drawbridge and trade would only hurt us and workers. the answer is to make sure globalization and trade is working for us, not against us. that is why we are reaffirming our commitment to the transpacific partnership. i'm a strong supporter of cpp because it will reduce tariffs on american goods from cars to crops and make it easier for americans to ask for in the markets of the world. tpp levels the playing field for our workers and help ensure strong labor and environmental rules. this is an opportunity to grow our economy and write the rules for trade in the 21st century in a way that's equitable.
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a chance to reduce economic inequality and support good paying jobs all while strengthening critical strategic relationships in a vital region. so i think not only is tpp important, but the prime minister and i agree that we need to expand our partnership eon just regional effort. we have work to do on a global scale. singapore was the first country in southeast asia to join to destroy a fifth and we are grateful that singapore is making more effort by providing viable medical support to coalition forces as two nations on the forefront of digital innovation, we recognize current price of cyberattacks and will continue to work to strengthen cybersecurity and promote peaceful norms on how nations should operate in cyprus base.
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singapore, the garden city help to achieve the paris climate agreement last year. mr. prime minister, thank you for your commitment towards the agreement this year. we also work with the international community to reduce harmful aviation emissions and phase out a chassis. our two countries will work together to advance global health security so the world is better prepared to address the threat of pandemics. last point. we agreed to keep promoting people to people between our two countries. we are expanding our trusted travelers program to make it easier for americans to visit each other into business together. i welcome singapore in the new exchange program to include scholarships for students of our two countries into our young young southeast asian leaders initiative. we will empower young people in singapore and across the region to become the leaders of tomorrow in their own communities of business and
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civil society. i will note i had a chance to meet one of those young singaporean leaders at a summit last year. a remarkable young woman who's helping underprivileged women become financially self-sufficient. kerry talked about coming together with young people from across southeast asia. we bonded to seek to understand and learn from one another in pursuit of our aspirations to a better world. young people give me hope and may start our work together to singapore and the united states will continue our shared aspirations for many years to come. with that, let me turn it over to you, mr. prime minister. >> thank you, president obama. president obama, distinguished guests, and very happy to be here for the 50th anniversary of our relations. i'd like to thank president obama and for his attention to
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bilateral relations as well to the asia pacific and specifically good wishes on the condition of our former president. the president then i have bases and shift conversation on the wide range of issues. we have a strong multifaceted and long-standing relationship. strong economic ties to underpin the u.s. singapore free trade agreement. singapore is america's largest trading partner and southeast asia, where the u.s. is singapore's largest foreign direct investor. many american companies run headquarters in singapore and many companies also in america and their relationship. in a different area we have robust cooperation under the ammo you in 1990 and the strategic framework agreement in 2005.
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last year we concluded the enhanced cooperation agreement which expands cooperation into new areas of humanitarian assistance and disaster relief, cyberdefense and counterterrorism. also cooperation between the agencies and areas of counterterrorism, cybercrime, corruption current trends rotation security and trade enforcement annex land and into new areas like cybersecurity were agencies are sending an animal view to work together to protect national security and economic interests against cyberattacks. we also share an interest in smart goodies so we discuss how cities can use technology to tackle problems from health care to transportation to delivery of public services and a lot of interest from companies. underpinning the ties between the two countries are the friendships and relationships between our people. thousands of american students are studying and working in
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singapore. thousands of singaporeans are working in america and last time the national reception in our embassy here in 600 people showed up. it is fitting to mark this special occasion of our anniversary that we're launching a scholarship for singaporeans and americans to do some exchanges in each other's country and drawn to people closer together and get to know each other's society and opportunities to cooperate together. we've recently implemented a trusted traveler program that will also facilitate travel by singaporeans to the u.s. the president and i also discussed a tpp and the president gave an eloquent explanation of why it's important to america and also to asia. as an integral component of america as component of america's rebalanced umesh.
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apart from the economic benefits, trade, market access, it is also from strategic point of view in a strong signal of the u.s. commitment to continuous deep engagement in the region. we greatly appreciate the efforts of the president and his team to push for the tpp, which grew from a small fta with singapore had started with chili and new zealand and now the tpp will be a free trade agreement encompassing the world's population and one third of the world's gdp. we hope that the countries, particularly the u.s. will ratify as soon as possible. finally, the president and i discuss the partnership in tackling global challenges of counterterrorism. it is a problem for all countries. everyday in the news papers you read of newer attack somewhere. america and the europe, middle
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east, middle east and eurasia. we in southeast asia are very concerned about this because the terrorists are active in many countries in the region. several hundred, perhaps a thousand from southeast asia and we have witnessed attacks in both indonesia and malaysia that were mounted by isis followers under orders from isis operatives in the middle east who launch attacks in their home countries. the efforts to counter as they say are crucial and that is why singapore is a member of the coalition and we are making a modest contribution to the effort and we will be sending a medical team to iraq. we have been participating in another race and now we are going to send a medical team into iraq. it is also important to fundamentally address the root source of violent extremism to counter the underlying ideology
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as well as to address the issues of extremist exclusive use the propagated. these are major issues we have discussed amongst our two countries and we look forward to working together in taking our relationship even further. stuart: first question is margaret grant. >> thank you, mr. president. given the republican nominee's recent precedents about the khan family and that his statement that it is that he would consider recognizing russia's annexation of crimea, does that make you question his fitness to become president. i'm libya, you've you said in the past but the worst mistake of your presidency may have been your failure to plan for the aftermath of the 2011 nato intervention with libya. do you see your new decision to bob isis bear as a direct result of that?
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>> yes. i think the nominee as unfit to serve as president. i said so last week and he keeps on improving it. they no shame that he would attack a gold star family that had made such extraordinary sacrifices on behalf of our country, the fact that he doesn't appear to have basic knowledge around critical issues in europe, in the middle east, in asia, means that he is woefully unprepared to do this job. and this is not just my opinion. i think what has been interest
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in is the repeated denunciations of his statement by leading republicans, including the speaker of the house and the senate majority leader and prominent republicans like john mccain. the question that i think they have to ask themselves is if you are repeatedly having to say in very strong terms that what he has said is unacceptable, why are you still endorsing him? what does this say about your party that this is your standard bearer? this is in a situation where you have an episodic gap.
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this is daily and weekly where they are distancing themselves and statements he is making. there has to be a point at which you say this is not somebody i can import for president of the united states. even if he purports to be a member of my party. you know, the fact that that has not yet happened makes for some of denunciations very hollow. i don't doubt their sincerity. i don't doubt that they're outraged about about some of the statements that mr. trump and his supporters made about the khan family. but there has to come a point at which you say somebody who makes those kinds of statements doesn't have the judgment, the
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temperament, the understanding to occupy the most powerful position in the world. because a lot of people depend on the white house getting stuff for a period this is different than just having policy disagreement. i recognize that they are profoundly disagree with myself for hillary clinton on tax policy on certain elements of foreign policy. but there have been republican presidents with whom i disagreed with that i didn't have a doubt that they could function as president. i think i was right and mitt romney and john mccain were wrong on certain policy issues, but i never thought that they couldn't do the job.
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and had they won, and i would have been disappointed, but i would have said to all americans, this is our president and i know they are going to abide by certain norms and rules and common sense, will observe the sick decency, and we'll have enough knowledge about economic policy and foreign policy and our constitutional traditions and rule of law that our government will work and will compete for years from now to try to win an election. but that is not the situation here. and that is not just my opinion. that is the opinion of many prominent republicans.
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there has to come a point in which you say enough. the alternative is that the entire party, the republican party effectively endorses and validated the positions being articulated by mr. trump. if i sat in my speech last week, i don't think that represents the views of a whole lot of republicans. with respect to libya, i have said on several occasions that we did the right thing in preventing what could have been a massacre of blood bath in libya. we did so as part of an international coalition and under u.n. mandate. i think that all of us collectively were not sufficiently attentive to what happened the day after and the
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day after that in order to ensure that there were strong structures in place to ensure basic security and peace inside of libya appeared the good news is they have the attempt for the beginnings of a government and the government of national accord. they are serious about trying to bring all the factions together to start creating a basic security structure to begin to monitor of libya's borders and cooperate internationally to deal with issues like penetration on their territory. at the request of the government , after they had never made significant progress
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against isis and have essentially pushed isil into a very confined area, it is in america's national security interest in our fight to make sure they are able to finish the job. we are working in partnership with them to ensure that they do not get a stronghold in libya, even non-it begins what is going to be a long process to establish a functioning government. the goodness is that they recognize this terrorist organization in their midst is contrary to their national interest as well as the world and we are hopeful that having
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completed this process of driving isil out, they will bring the parties together inside a country and not only us, but the europeans and other countries around the world have a great interest in stability in libya. the absence of stability would feel the migration crisis in europe and some of the humanitarian tragedies we have seen in the open seas between libya and europe. >> thank you, president obama. first question for the prime minister. he spoke about the significant part of peace and stability in asia. how do you envision this continuation and the next 50 years and what role do you see singapore play in this context?
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what are the hot issues as the u.s. hopefully continues its free balance? second question. you've mentioned what singaporeans have had with nine different strong record there. how would we address with more closed off, more globalization, for example, in november being a cornerstone relationship between singapore and the u.s., especially on the announcement of the global coalition with jesus. with the threat of terry nation and indeed the rest of the world, potential for military confrontation in the south china sea, how do you see singapore to address this going forward? last question.
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four more years you are hearing a little bit in the past few weeks and months. while that's not possible, how would you continue developing relationships with singapore going forward? thank you. >> 50 years is a very long time. 50 years ago nobody imagine what the world would be like today and have a deep and broad relationship is so many things to do together. we would like to build on this. it depends on how each of our countries is in singapore with opening, successful or you remain but the dynamic, vibrant leading economies in the world in a world in which there are other powers, and other centers of creativity and technology,
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but the unique participate in contributing to the world, not just for your own interests, but your belief that the world would be a better place for countries. if america can do that, if singapore can maintain our success there are many opportunities to make common course together. it will be a very different world. other countries will slow down. demographics will have a big factor to come. they have been shrinking and they will have to do some thing somehow to turn it around otherwise 50 more years of population shrinking and a very small country in terms of
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economy, in terms of influence internationally. america has a demographic change of the population not shrinking and the composition changing. in this situation, we have to adjust to a new world of maintaining our position and our ability to compete. and yet knowing it's not going to be the same as it was in 1946 when america was almost half the world's gdp. so that is the crucial factor over the next 50 years. as for what we do over bipartisan links that there is a u.s. data more closed off and wants to turn inward, i don't think this is the right forum for me to talk about u.s. politics and public at this moment appeared we will work with whoever is the u.s. administration and, whichever party we were with five republicans than for democrat
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administrations. our experience of american elections, presidential elections that many pressures built up during the election campaign and after the elections and palmer, cooler atmosphere is positioned our strategies and nuance and a certain balance is kept in the direction. it doesn't turned completely upside down. the americans take pride in having a system of checks and balances so that it is not so easy to do things, but not the receipt you completely missed thinkpad. [laughter] we admire that and sometimes we depend upon that. >> is absolutely right. the wisdom of our founders.
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with respect to military cooperation, obviously singapore is a small country, but as i've said before, so much of our work in the asia pacific region is not a matter of fact could conflict, but rather creating an architecture or framework of rules and norms that keeps the peace and that has under bread security for the region and for us for many years now. singapore a selloff in the adult in the room, the levelheaded bacchanal us work with a wide range of countries around certain issues, help defuse tensions. in many ways, the diplomatic work and collaboration that we
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do with singapore is as critical if not more critical than the work militarily. the nature of threat today, when you think of cyberthreat or orcas earn about enforcing sanctions against north korea to ensure non-proliferation of nuclear materials, or being able to counter a message to isil and a place like southeast asia and ensure information sharing with countries where there may be a budding terrorist threat. those are all issues of military finance and intelligent and precision. those are areas where singapore itself. in addition to being a very important logistical hub and
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center for operations, the partnership we are able to maintain hopes as to work with a whole range of other countries much more effect to believe than we would if singapore weren't there and we were having to just try to gather up all these countries earlier. that is where i see i'm i've been important because it isn't too should the lightning many of these practices in ways that hopefully avoid conflict in the first place, which would be in everybody's interest. as far as where the relationship is, the prime minister is absolutely right. 50 years from now it is very hard to anticipate where we are going. but there are certain trends that are inevitable.
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the asia pacific region will continue to grow and will continue to account for a larger share of the world's economy and in the southeast region to look to the path of singapore into a mature, advanced economy. it is going to be a big market and the united states is still going to have a massive interest in maintaining the south as an asia-pacific power and maintaining trade and commerce and scientific exchange and educational exchange. given the close strategic interests, or maybe even more importantly closed book to people ties between america and
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singapore. i think we can anticipate that will be just as strong 50 years from now as it is today. singapore has to take into account not just american interests. china is a big neighbor and there are strong commercial ties and cultural ties as well. and not sent some of singapore serve as a useful partner with us and with china to assure the u.s.-china relationship move in a good way. which i think would be in the interest of both countries. this is going to be a central engine for world growth. if we do a good job in maintaining stability, insuring the rules-based order, continuing to promote greater transparency and reducing corruption in the region so that
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all people are benefiting from the rapid growth taking place, then the future 50 years from now will be for a period jordan fagin. >> thank you, mr. president. you are here attacking the transpacific partnership. the vice presidential nominee tim kane is now braced himself against it. donald trump is the next president opposed to steal. if you take both candidates at their word, how do you plan to get congress to pass the deal during the lame-duck and what is your plan to convince members to do so given the opposition i just described. secondly, security officials inside and outside the government have said they are almost certain the democratic national committee came from russia. does it look like russia's meddling and what impact showed that half of the administration's relationship with moss cow?
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>> well, right now i'm president and i am for it. and i think i've got the better argument. i have made this argument before and i will make it again. we are part of the global economy. we are not reversing that. it can't be reversed because it is driven by technology and it is driven by travel and the fact that the demand for products inside of our country means we got to get things from other places and our expert sector is a huge contributor to jobs and our economic well-being. most manufactured products now
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involve a global supply chain where parts are made in all corners of the globe integration kit assembled and packaged and sold. the notion that we are going to pull that up is unrealistic. point number one. point number two, it is absolutely true. the evidence shows that some past trade deals have not delivered on all the benefits that were promised and had very vocalized cross-reactivity communities heard because plants no doubt. people lost jobs. jobs were created because of the street jazz, but jobs were also lost. people who experience those losses in those communities didn't get as much help as they needed to. but it's also true as a
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consequence of globalization and automation. what you have seen is labor workers losing leverage and b. mobile, being able to locate around the world. that has all contributed to growing inequality both here in the united state, that in many advanced economies. so there is a real problem, that the answer is not cutting off globalization. the answer is how do we make sure globalization, technology, automation, those things work for us, not against us. tpp is designed to do precisely that. number one, and knocks at 18,000 terrorist that other countries place on american product and good. our economy currently has fewer tariffs more open than many of our trading partners.
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so if everybody agrees we will have lower tariffs, that is good for american business and american workers and we should want that. we should pursue it. number two, the complaint about previous trade deals was that labor agreements and environmental agreement sounded good, but they weren't enforceable the same way you could complain about tariffs and actually get action to ensure that tariffs were not enforced. well, tpp actually strengthens labor agreements and environmental agreement and they are just as enforceable as any other part of the agreement. in fact, people take them so seriously that right now, for example, vietnam is acting in presenting unprecedented labor reforms in vietnam.
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change in their constitution to recognize worker organizations in vietnam for the first time. so what we are doing is we are raising standards for workers in those countries, which means it's harder for them to undercut labor standards here in the united states. the same is true for things like human trafficking. a country like malaysia taking really serious efforts to crack down on human trafficking because tpp says you need to. it gives us leverage to promote games that progress is and people here in this country, including labor unions, say they care about. so if you care about preventing abuse of workers, child labor,
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wildlife trafficking, overfishing, the decimation of four s., all those things are addressed in this agreement. i have not heard anyone make an argument that the existing trading worlds are better for issues like labor rights and environmental right then they would be if we got tpp past. and so, i am going to continue to make this case and that got them very close friends, people i had my hair a lot, but i just disagree with them. and that's okay. i respect the argument that they are making. they are coming from a sincere
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concern about the position of workers and wages in this country. but i think i've got the better argument. i've got the evidence to support it. hopefully after the election is over and the dust settles, there will be more attention to the actual facts behind the deal and it won't just be a political symbol for a political football. i will actually sit down with people on both sides on the right and on the left. i will sit down publicly with them and we will go through the provisions. i would enjoy that because there's a lot of misinformation. i am really confident i can make the case that this is good for american workers and the american people. you know, people said we weren't going to be able to get the trade authority to the then present this before congress and somehow we muddled through and got it done and i intend to do
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the same with respect to the actual agreement. you had the second question. how is one answer. i apologize, mr. prime minister. but every once in a while. the fbi is still doing an investigation. you are right that there have been some assessments made that this may be a russian hack. but i can tell you without commenting on the specifics is that there are a lot of countries out there that are trying to hack into our staff. governmental databases, but also private-sector databases and not-for-profit databases. this is why we have stood up such an aggressive effort to strengthen our cybersecurity. and we have provisions in place where, if we see evidence of a
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malicious attack, by a state actor, we can't impose potentially certain or personal penalties. but that requires us to really be able to pin down what we are talking about. so i don't want to get ahead of it. the legal evidence and facts that we may have in order to make those kinds of decisions. more broadly, we are trying to promote international norms and rules that say there are certain things that states should not be doing to each other when it comes to cyberattacks. there are certain things that are out of bounds. and those arms i think are going to slowly build and get more adherents over time. we are still early in the
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process. in some way the exclusion of the internet and its importance to our communications systems has far outstripped the legal architecture and we are playing catch-up. though we are going to have to keep on added. in terms of how it affects our relationship with russia, we've already got a lot of differences with russia on a whole bunch of issues. but i think that we have been able to try to stay focused on those areas where we still have a common interest, understanding that we had deep disagreements on issues like ukraine, but perhaps potentially we have an interest in bringing an end to violence in syria. how do we balance those issues? that is pretty standard. statecraft at this point with
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russia. if in fact russia engaged in this activity, it is just one on a long list of issues that we talk about but i've got a real problem with. and so, i don't think that it wildly swings but it's a tough, difficult relationship we have with russia right now, but it is not going to stop us from still trying to pursue the minsk solu implement the agreement and get russia and those separatists to lay down arms and stop bullying ukraine or trying to make sure we can bring a political transition in syria that can end the hardship there. >> can i say something about the
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tpp? don't want to wait until your domestic politics, looking at it from somebody on the other side of the pacific that has been intimately involved and triggered the whole process because we started the p 4, and just become this important initiative. the economic arguments for the tpp in terms of trade the president presented eloquently, what the benefits are to american companies, it is a deal which the countries have negotiated, each one providing market access. on their side in return for gaming markets access on the other side, each one committing to rules and exchange for the other side committing to rules, hard-fought bargaining process, negotiators, many nights and many don's and fought it out. but at the end of it everyone must decide plus or minus,


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