tv The Intelligence Report With Trish Regan FOX Business September 19, 2017 2:00pm-3:00pm EDT
donald trump busy at the u.n. today. a bilateral meeting with peter thompson. meeting with the amir. we're live on your world 4:00 p.m. eastern time when that is kicking off. he can say the darndest things and make a lot of news. we're there. trish regan from here. hey, trish. trish: he has a way of doing it. president trump delivering a very direct, a very fiery speech at the u.n. general assembly urging the international community to rein in north korea. welcome everyone, to "the intelligence report." kim jong-un and pursuit of nuclear weapons claiming the regime is on a suicide mission and the united states may have no choice but to destroy them. all of this as the north korean delegation sat right in the front row. watch. >> north korea's reckless pursuit of nuclear weapons and
ballistic missiles threatens the entire world with unthinkable loss of human life. the united states has great strength and patience, but if it is forced to defend itself or its allies, we will have no choice but to totally destroy north korea. >> and he didn't stop there. the president went to make another thing very clear. he will always put the american people and our country first. watch this. >> as president of the united states, i will always put america first. just like you, as the leaders of your countries, will always and should always put your countries first. trish: kind of a different tone than we would have heard from president obama. does the u.s. need to apologize for all the horrible in the world? and he was on the apology tour.
this is different. this is about the importance of being us and the importance of them being them. in other words, everybody is a sovereign state, a sovereign nation that should be looking out for their own interests. why are we footing 25% of the u.n.'s tab? anyway, our very own adam shapiro outside the united nations with a lot more, hey, adam? reporter: and a good afternoon to you, trish, when you bring up the trump doctrine as we might call it, america first, it was a speech which reiterated that and did it in a firm manner and, of course, there are critics and supporters. start with the critics from the democrats. dianne feinstein, the senator from california issued a statement saying, quote, the goals of the united nationstor foster peace and promote global cooperation. today the president used it as a stage to threaten war. then the supporters, lindsey graham, the republican, at times very critical of president trump. he said president trump is right to rally the world to deal with a nuclear-armed north
korea. he's right to focus on getting a better deal with iran. and it's important to focus that this speech wasn't just about the nuclear arms north korea but states that fund terrorism and a need to crack down. you notice steve mnuchin, the treasury secretary was in the audience. a great deal of his work is stopping the financing of international terrorism. but the president talked about the iran deal and why it's important to make sure that that deal is good for the world. here's what the president said. >> the iran deal was one of the worst and most one-sided transactions the united states has ever entered into. frankly, that deal is an embarrassment to the united states and i don't think you've heard the last of it, believe me. reporter: trish, when we talk about the work taking place at the united nations behind me, the president's message firm and saying on message to the
trump doctrine, which is america first. one thing that might not have gotten much headlines today is that spain is expelling the diplomat, the ambassador from north korea, so there are supporters of the trump doctrine, especially when dealing with north korea. trish: adam shapiro, thank you very much. joining me with his thoughts what we heard from the president. we have fox news strategic analyst lieutenant colonel ralph peters. with, sir. >> hey, trish. trish: beating the drum on this over and over again, i'm glad to see mnuchin in the audience, i'd like to see more action out of the treasury secretary. what can and should we be doing? >> the president's speech, i've got give credit on this, there's going to be a lot of bed wetting in washington because he spoke plainly and clearly. he did not attack the u.n. virulently, he said sensible things. give him credit.
when it comes to north korea, you know, he's just right. i wish he said we'll totally destroy the regime rather than north korea, that's nitpicking. overall this was a no bs speech, and i think it's just what the u.n. and the world needed to hear. trish: a little refreshing. >> yeah. trish: i made the point as we were going to adam shapiro's report, in the last eight years we heard a very different tone, almost an apologetic tone from president obama. we're sorry for being the united states of america. here, we're proud of being the united states of america and you should be proud of being your own country as well. >> the thing is obama had much better speechwriters and artful delivery. soaring rhetoric, trump deals in prose. his rhetoric was empty and destructive and weeping how bad the united states was, and whereas trump, you know, i've not been his biggest fan, at the u.n. he sent the message,
hey, u.n., you do stuff right but let's fix the other stuff. trish: and we'll get on north korea in a second. but i do think you're onto something, and i think he did this on the campaign trail as well, and he's threading together two-seams here. one is we will do better and we can do better. there is an optimistic tone to what we're hearing? >> yeah, it's really a tough thing because he breaks so much china. he breaks the diplomatic rules. but again, i think it was just the right thing to do, to tell the u.n. up-front, no diplomatic language here. this is what we want, this is what we're going to do. this is what we'll do for you, what you need to do for us, very transactional, and at the end of the day. he covered a lot of ground. i'll tell you where he won me over. it was early in the address when he suddenly speaking about intolerable aggression, he
cited ukraine and the south china sea. obviously, russia and china, and boy, that was great. actually the firmest stand i've heard him take about russia and what it's telling us is contrary to the worst fears on the left and others and some of my own fears, he is growing in the job. he's listening to the right people. getting rid of the dead wood in the administration, bringing along sound performers like mnuchin, obviously jim mattis. kelly running a tight ship now. i'm more hopeful for the presidency. trish: wow! colonel peters, that's exciting to hear from you. you've been quite a critic all along. >> you got to start somewhere. trish: what i liked about today's speech, i'll tell you, colonel peters, it was normal speak. you say yeah, he's breaking china, no pun intended, but that's okay, that's okay because sometimes i think you
got to back away from all the words, right? bogged down in these words and you lose what the message is. he makes it very clear what his message is, and that is our message. it should be our message. >> you're right. i have a weakness for stirring lofty rhetoric, i love lincoln's speeches. there are times when you say buddy, i'm going to knock your teeth out. that's what trump does. for me it's a hard adjustment having been a soldier for 2 years. i don't agree with every president on everything. kudos to trump sending the right message today. trish: high marks from colonel peters. people are in agreement, a very powerful speech. many members of the left are a little upset. you got diplomats that are upset because they don't like this very plain talk. lots going on. we're going to talk about north korea coming up because i still
believe, and colonel peters, i still believe there is a lot more we can do to force china to pay attention to what we need and what we want with the regime in north korea. and i think mnuchin being in the audience today sends a signal too, we need to actually start enforcing the rules with china so that they enforce other things. the other big story we're following is an explosive new report that shows president trump one-time campaign manager paul manafort was wiretapped under court order both before and after the election. probe extended to earlier this year when mr. manafort and president trump were known to be in contact. the president has been tweeting about these allegation, wiretapping allegation by the obama administration for months. remember? you had everyone in the mainstream media calling him crazy because he was saying all of this. watch. >> this information is
embarrassing. it's embarrassing because the president said something that wasn't true at all. >> to the core, it is hard to overstate how reckless that tweet was. >> regardless of the substance or veracity of what donald trump said that legally impossible for a president to direct wiretaps. it's just a falsity and need to call it that. trish: and yet here's cnn's report last night. >> cnn has learned that investigators wiretapped former trump campaign chairman paul manafort under secret court order both before and after the 2016 election. and that surveillance continued into this year, including a period when manafort wasn't working for the campaign but was known to talk with president donald trump. trish: oh, okay! in other words, the president was right, they were tapping the phones over there at trump tower. joining me right now fox news anchor and former defense
attorney gregg jarrett. good to see you. >> good to see you. >> wow! they're having to eat their words on that one. >> you know, there's not much irony over at cnn but they saw it yesterday and last night when they reported this because it was cnn that condemned, and you saw some of it, president trump proclaiming that his team is being wiretapped when, in fact, they were. now we know they were not only being wiretapped but they were caught up in incidental collection and intelligence gathering as well. so two different forms of it. you know, the president was right, they were spying on us like gladys kravitz, the nosy neighbor in bewitched. trish: i love that show. i make them watch reruns, gladys who was always looking in. this is serious, serious stuff. >> it is. trish: susan rice may be having a hand in this on unmasking. >> samantha power, the list
goes on and on. my beef is jeff sessions, the attorney general has made mow move to go after rice and power and brennan and the host of characters in the obama administration. trish: is he waiting for something? >> appear to be using their public office for a political purpose, which is a crime, and indeed somebody unmasked and leaked to the media, which is also a crime. trish: so in all fairness, i'm going jump back a step and say look, if paul manafort, in fact, was engaging with the russians, there would be cause to be investigating him. >> sure. trish: but it doesn't feel as though they've been able -- unless they've got something they have been keeping hidden, we haven't seen anything thus far. just a bunch of rumor and they use that rumor and innuendo to tap their phones. >> right. look they gave up on manafort after spending a couple years and found nothing, they're
trying to -- again, robert mueller is determined to find wrongdoing on the part of manafort. maybe he'll find some but unrelated to president trump and russian meddling. my other beef is that fisa courts are anathema to democracy. they are secret. should be no secrecy in the united states when you are listening on people's conversations. incidental collection, i get. i understand that. if you're having a conversation with somebody in a terrorist nation, the government should be listening in, but going to a secret court, you can conjure any evidence you want to obtain a warned from the secret judge and there's nobody there to oppose it. that is undemocratic. it's wrong, it's got to stop. we need to get rid of it. >> look, i would just once again say to everyone this is really scary stuff, and i think that the implications could be very, very big. i mean, people should go to
jail over something like this, if they were deliberately, deliberately trying influence a campaign by perhaps gaining intelligence or suggesting that people were bad actors. >> who's going to throw them in jail? jeff sessions is the top lawyer in america. trish: why isn't he doing anything? >> he should resign. he's in over his head. he shouldn't be in the position in the first place. i think the president made a mistake in appointing jeff sessions as attorney general. he's empowered to do something about all of this, and he's twiddling his thumbs. trish: why doesn't the president fire him? >> well, i think the president, notwithstanding "the apprentice" hates firing people, he's a loyal guy. and jeff sessions was the first u.s. senator to back the president when he was running, and i thought -- i think the president considered sessions to be the perfect guy for the job. he is not. trish: well, you know, look,
being a senator, and being a.g., two different things. you think back to eric holder, he was there for president obama, whether you liked him or not. eric holder was there, consistently. and you are not seeing that with jeff session says in. >> you are not. it's a shame. sessions ought to resign. a wrote a column on it noks news.com. trish: it's great. >> and before sessions resigns, he should take action against hillary clinton, james comey and susan rice because there's compelling evidence that all three of them may have committed crimes. >> gregg jarrett, thank you very much. i urge everyone to check out your op-ed on foxnews.com. hurricane maria, now a category 5, could be a direct hit on puerto rico and the virgin islands after doing mind-boggling damage to the island of dominica. we have the latest on maria. see you here after this.
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. trish: hurricane maria smashing into the island of dominica leaving behind what the prime minister calls mind-boggling devastation. category 5 storm moving over the caribbean, a region already ravaged by hurricane irma. poor people are dealing with a lot. the storm already responsible for at least one death. for the latest on maria as well as the threat to the east coast by hurricane jose. let's go to adam klotz, fox news weather center. they hit with one and another, unbelievable. >> incredibly strong. winds up to 165. gusting up to 195. there is the center of the storm, visible satellite. you're seeing it beginning to reach the virgin islands
stretching over towards puerto rico. we're going to be talking about land fafl into the overnight hours into tomorrow. this is the outer rainfall. outer bands, thunderstorms, heavy rain, strong storms beginning to pick up. obviously much more intense as we get the core of this system closer and closer to the islands. no surprise here, we've got hurricane watches and warnings throughout the caribbean and looking at a powerful storm here. from a category 5, expected to be a cat 4. tomorrow is the day throughout the day, you're looking at this storm passing over puerto rico, of course, the u.s. virgin islands just out in front of, that all going to be hit by. this the winds are going to be incredibly strong as the system moves through the island chain. this is a model depicting hurricane-force winds. that darkly colored red area. moving over the virgin islands, moving right over san juan.
those are the strongest winds and hitting all of the u.s. territories. winds, how strong could they get? this is the forecast model, jumping up to triple digits and a lot of places as high as 125 and getting higher than that. 130. incredibly powerful storm. on top of that, talking about a whole lot of rain coming down across puerto rico and you mentioned hurricane jose continues to spin. this, some rain, strong winds along the coast. mid-atlantic to new england. there is a lot going on out there today. trish: wow, we're watching, it thank you so much. adam klotz. markets today up 50 points. here we are, another day another record, right? ahead of tomorrow's big federal reserve announcement. you got the bond markets bracing for possibly the end of easy money, but guess what? equities, they don't care. they're on a tear because they like the fundamentals in our economy. we'll tell you what's going to happen with the fed right after this. ♪
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. >> the stock market is at an all-time high. a record. unemployment is at its lowest level in 16 years, and because of our regulatory and other reforms, we have more people working in the united states today than ever before. trish: that's what he campaigned on, right? jobs. getting people back to work. econ101, less regulation, hopefully lower taxes, equals economic prosperity, growth, you heard me say we're in a challenging spot because the economy increasingly is looking like an hourglass with the middle class getting squeezed and having less and less of the middle class. a lot on the bottom, got a few on the top, but not enough in between. lawyering how is the fed contributing to this? i'll tell you the fed is contributing to the wealthiest
ability to get wealthier, because if you have capital in an environment like we've been in, of no economic growth for the last eight years, you've done just fine. you've done absolutely fine, because the fed has helped you along with the equity market, pushing it higher bit by bit by bit, steve cortes and mary o'grady join me with more on this. steve, i keep saying we need change in the economic growth, the only sway meaningful change out of washington, we're starting to see that in term of rolling back regulations does, that mean we can get away from the sugar high-influenced market, thank you very much, janet yellen, and start getting towards real positive economic picture. >> trish, i hope so, i think so, the reason is because i think there is strong evidence that's starting to happen. incomes, while not high enough,
incomes are rising, consumer confidence soared, small business service soaring, this is one of the most hopeful things reported by the department of agriculture. every month of donald trump's presidency people have fallen off of food stamps. we're over 40 million, i think that's a crisis in our country. however, the good news is the trend is starting to go the right way. trish: i'm glad you brought that up because you look at the programs like, for example, the snap program and i talked about the hourglass economy, and what's so hard, if you're in the middle class, you don't qualify for the free health care and the free food, you're in a much more difficult situation because you don't get the benefit of being on the bottom and getting those handouts. meanwhile, as we look at the fed and look at markets, those who have capital have benefitted in this environment, right?
you just make an investment and keep watching it go up. so what do we do? what can the fed do if anything to address the problem of hourglass economy with middle glass feeling all the pressure? >> i think the most encouraging news we're getting this week is the fed is talking about working back towards a normal monetary paradigm, and this eight years or so of buying -- more than eight years, ten years, of buying, making asset purchases to try to basically feed the housing market and having negative real interest rates has been very costly because business investment has not gone into the places where it would create jobs, and i think if the fed starts and is going to be slow, if it starts to shrink the balance sheet, it's not going to basically sell off the balance sheet but it's going to let things
mature, roll off. >> you think that's positive for the average consumer? >> that is absolutely positive. i strongly believe that the monetary policy has been contractionary. it's been contractionary. trish: why? it shouldn't have been, right, mary. >> this is supposed to be the anti-contractionary market. think about the stock market along the way? >> think about what happened to the reserves that the fed created. they did not go into the system, they sat on the balance sheet as bank reserves, because the banks were being paid a premium to hold them there at the fed. they weren't putting them to work so that was contractionary. trish: why take the risk if you are not benefitting? >> right, and consuming the assets otherwise in the market. it was very bad for savers. i think if we could get back to something more normal where the fed should not be in the business of buying mortgage-backed securities, it would boost the confidence of
the market and return us to a market in those assets. trish: i'm glad you brought up savers, that is an important component of this as well, steve, that mary mentioned. your person that is living off a set income, a fixed income, doesn't have the ability to live off that income without going into their principal because the banks are paying nothing? >> it's punishing the wrong people, punishing people who are responsible. an example is my 80-year-old mother, can't earn any income off of retirement savings. what is she supposed to do? buy the bank stocks at her age? that's not a great option either. you are right, savers have been punished. bad news and central banks have failed at creating real prosperity. that's the bad news, here's the good news, a new economic sheriff, donald trump, deregulation has happened, i believe tax cuts are coming and talking about real growth on
main street. >> good to see you, steve and mary. tune in tomorrow 2:00 p.m. eastern, when you will find out what the fed does. we have the best analysis of anyone in the television business. it is right here at 2:00 p.m. followed by janet yellen's direct comments to the media at 2:30, so make sure you tune in. i'll be here. president trump making it clear to the international community at the u.n. it's no longer business as usual. he's calling out north korea and iran in the harshest of terms. former adviser to president trump, dr. sebastian gorka is here with one of his very first television appearances since leaving the administration. he has all your intel right after this.
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. trish: israeli prime minister benjamin netanyahu praising the president's speech the the u.n. general assembly today tweeting -- this, after the president singled out iran denouncing the iran nuclear deal, calling it an embarrassment as iranian diplomats looked on from the audience. here he is. >> the iran deal was one of the worst and most one sided transactions the united states has ever entered into. frankly, that deal is an embarrassment to the united
states and i don't think you've heard the last of it. believe me. trish: joining me right now, is make america great again coalition chief strategist in one of his very first introduce since leaving the white house dr. sebastian gorka, dr. gorka, good to see you. >> first interview on tv since i joined the coalition, the scoop is yours, trish. trish: congratulations on. that tell me what the goal is with the coalition right now? >> this think is about it as the forgotten -- this is the super pac for the forgotten men and women who voted for this rank outsider last november 8th. we're going to work with existing pacs and super pacs. i know sheriff clarke, tony hicks, steve bannon, all those people. we're going to make america great again, from the outside and support the president and also get those rhinos out. primary those rhinos wherever they are. trish: dr. gorka, there is
concern that maybe steve bannon, breitbart and the others are not entirely on the president's side right now, in that they've been quite critical of a few things that have happened since you left, since he left. what do you tell those who feel somewhat deserted by the people, including the people there from the beginning? . >> i just gave a speech literally an hour ago to a conservative crowd in washington and i said, look, take a deep breath, relax, count to ten. just because steve left the building, just because i left the building does not mean the original agenda is in danger. we're far more capable on the outside of supporting the president, and got recognize, he's surrounded by people who will not identify as part of the original agenda. today's speech at the u.n. is clear, we have exerted pressure, he said radical islamic terrorism which he did not say in the afghan speech. so trish, it's working.
trish: you liked the speech today? >> oh,s. >> it was direct and you think resonateed? >> he went into the heart of darkness, this is the united nations meant to provide peace and stability after the san francisco conference at the end of world war ii and a hive of duplicitous globalism where countries like saudi arabia and iran are lecturing us about human rights? i mean the tweet from prime minister netanyahu, there is no nation that has suffered more from the united nations' double standards than israel and when netanyahu calls that the best speech he's heard in 30 years, you continue was a good speech. trish: part of that is because he liked what the president had to say on iran. i know you've been a huge critic of that deal. you'd like to be as far away as you possibly can. there are concerns that iran could be the next north korea.
we saw how that all worked out, right? >> right. trish: dr. gorka, what is the path to getting out of that deal with iran now? is there one, really? >> there is. the case simply has to be made right now that there's two sides to the iran deal. there's the technical compliance, and the technical compliance is an absurdity, like a bad "snl" skit. you capture with too much water, capture with too many centrifuges and they get 30 days to fix it. like calling the bank robber and saying we'll be with you in a few hours from the local police department. it doesn't matter if they are in compliance because it's a bad deal. real important thing, this is what the president will argue and i hope have the necessary effect with the swamp. the deal is supposed to be in the national security interests of the united states of america. and clearly it isn't. any deal that you can play the way tehran does which doesn't
stop nuclear acquisition but delays it says a bad deal. >> wow, dr. gork alet me ask you about north korea before i let you go here. this is increasingly becoming a problem for us. what do we do? >> look, i had the president tell me in the oval office, i think it was the two of us in there. he said i do not want to go to war over the korean peninsula, and people need to just take that to heart. nevertheless, if you threaten us, if you threaten our territory with nuclear weapons, with ballistic missiles, look at team he's got. secretary mattis is not going to take that lying down. and this nation has shown in syria with the cruise missile strikes, in afghanistan with the 21,000-pound bomb finishing we need to, we will use force, and just one message from fox business to pyongyang, do not test this president. trish: well, dr. gorka, to
follow up on that, china. i keep making the point that hey, nobody wants to be at war, right? we don't want to be at war to reunite the korean peninsula but there's a whole lot more we can do along the way before we get on world war iii scenario and we need to be looking at china. the idea that china is somehow allowing him to exist. they have intelligence dr. gorka. they are effectively keeping him there. why aren't we doing more to pressure the chinese to say okay, enough. this guy. if he's going to be there, he needs to get rid of his nuclear arsenal, otherwise you got to put them off in the corner. >> there are many things that we can't discuss on public television that can be done and may be being done that are not overt by this government, but your analysis is spot-on. the nation that has the most
control in the nonmilitary sense, we are the most powerful nation the world has seen, that goes without saying. nation that has the most diplomatic and covert influence is china. north korea is just a proxy for china and china needs to vote with its feet. do you wish to see war in your region? or do you wish to see stability and peace. so pyongyang shouldn't test this president, and beijing should step up to the plate. trish: all right, dr. gorka, thank you. congratulations on the new gig. >> thank you. trish: we look forward to seeing you a lot right here on the show. >> thank you, trish. trish: sebastian gorka. the equifax scandal getting worse and worse, the company suffered an earlier hack in march, way back in march and never told us a darned thing, 143 million americans compromised? we're on it for you next.
. trish: breaking right now, mexico city, mexico hit by a strong earthquake everyone, magnitude 7.1, on the heels of a major earthquake that hit mexico last week. we're going to continue to monitor this as it develops. you see this? this is instagram video into us, and you can see the hysteria there as the mexicans deal with the 7.1-magnitude earthquake. you see the people on the street fleeing. this is reracked? additional video? i'm asking the producers for guidance. it's a loop. that's the video we have right now, 7.1, mexico just hit with that. more bad news out of equifax. months before the recent massive data breach exposed the personal information of 143 million people. 143 million people. chances are you had your information exposed. equifax had a whole other hack.
reports say the company was alerted in march about an earlier breach. they say the two hax are unrelated but if they knew about a breach in march, why didn't they upgrade the security bigtime so they didn't have that in july? joining me jason rotman of managing partner lido aisle advisers. i'm so angry with the company and annoyed, they're asking for everybody's personal information so you can freeze your credit so can you be protected in this environment, and i just scratch my head and say why the heck do i want to give more information to the company that abused us all in the first place? >> that's right. funny you mentioned that very specific comment. i was signing up for the first promise trust program, and i had to enter my social security and i x'd it out. i'm not going to do that with them. i think this topic really
honestly opens up a can of worms for fundamental discussions on centralization, you know, how much do you trust the big companies with all of your personal information? but that's a whole two hours. on a microlevel number one, personally, you need to protect yourself going forward. freeze credit reports temporarily, but on a macro level, what does that mean if half the country's freezing credit reports for business activity? is there going to be less loan activity or resources devoted to that. trish: not just that, think about that, if you're freezing credit, you are not spending. maybe it's good and not spending via credit line, but when you think about what turns this economy, right? and what turns it all, it's people getting a mortgage, that can be harder to do. people getting a car loan, that can be harder to do right now. and as we head into the holiday retail season on all the things that we spend on, and you might actually see a pullback because
people don't have the access to credit. so jason, that's a good point in terms of the overall economy. 143 million people. that's a lot. jason. good to see you. >> thank you. trish: take a quick break. >> we need more time. trish: see you right here after this. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
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. trish: all right, everyone, we've been talking about the president today there at the u.n. and the forceful language we heard, especially when it comes to north korea. we're continuing to deal with a threat out of pyongyang and kim jong-un doesn't want to play by the rules that we need him and the world to play by. joining me former reagan economic adviser art laffer. now, art. >> yes? trish: i'm a little surprised
because you and i rarely disagree on anything, but i understand -- >> almost never. trish: we never disagree on sanctions. let me tell you what i'm thinking and you tell me why you don't think it's going to work, but be prepared for a fight. >> okay. i'm scared. [laughter] >> i don't want to fight with you, trish. trish: and i don't want to fight with you but i care about this right now and what i'm bothered by, art, is we're engaging in business with china when china has the absolute total ability to remove or to at least lessen the strength of kim jong-un in north korea. they got the intelligence, the wherewithal, he's been there, his family members as a result of them. china doesn't seem to understand that we don't want him to have this nuclear capability. they seem to be just fine with it. i know there's one way, art, we can make them understand. we can use our economic might to make china understand that north korea and this guy there
is not acceptable. can we do it? >> you know, if we've been trying sanctions against north korea for 65 years, you can see how it's worked out for us. what we tried with china, i was on the first trip to china with george schultes and john ehrlichman in 1970. china in the modern world and a much better country today than prior to 1970. it's been a miracle. sanctions don't work, we've tried a long time. trish: no, no, no, no, no. hear my peace on, this you're saying sanctions have not worked in north korea. we just started sanctioning 90% of economy, i don't know how we're allowing the other 10% to exist. we're not talking about sanctioning north korea at this point. i don't think that gets you anywhere, i agree. if anything it could potentially drive kim jong-un into the hands of a middle eastern nation. >> exactly right. trish: because they need the money. but china, china actually could
use its might to get him over as i keep saying and into the corner, to contain him or change his regime, and i don't understand why we're not putting more pressure on china. i got the american argument and american businesses are going to freak out if they lose the market. here, i think the nation would be willing to lose a few dollars, art, instead of lives right now? >> not too many people are made complacent by threats and are willing to abide by your rules because you say if you don't do that, i'm going to beat you. that's not a good way to win internationally. the way you do it is trading with them and doing it. we have had such a bad posture against north korea for so long, i doubt very much we can turn them around today. trish: we need china to. >> i don't think china will, they might. i mean, if i were china, i'd surely try to get north korea to disarm right away, but china
is not going to be threatened into doing actions for the u.s. it's just not a good way of doing it. trish: art, they signed onto the sanctions. when? after we sanctioned a chinese bank and made it clear we were willing to go after them on intellectual property theft. >> one swallow does not a spring make. if china doesn't do the real mccoy, getting rid of the nuclear weapons, which we all want, we want to be successful. our strategy in north korea and china, except for nixon, has been bad on the sanctions, and frankly i think we're doing a mistake with iran and with russia as well. you don't sanction countries that are your friends. trish: thank you, i worry about our troops. >> i do too. trish: the walmarts of the world, they don't want to cut off trade with china. anyway, we're going to take a quick break. art laffer, thanks.
trish: conversation doesn't end here. we continue it online. just head to my facebook page at realtrish regan. or twitter account, at trish underscore reagan. liz has you from here. liz: trish, thank you very much. always israeli prime minister benjamin netanyahu calling his country innovation nation, citing warren buffett bought an israeli company. google set up headquarters there. he takes his turn at the podium. but president trump really jazzed things up. he is expected to depart the united nations at any moment. we'll have video of that. president trump is heading to the palace hotel, not too far away where he will meet with the emir of qatar at the top of the hour. earlier it was not