tv After the Bell FOX Business March 18, 2019 4:00pm-5:01pm EDT
they own about $30 per pnc share of blackrock. [closing bell rings] >> ex-blackrock, stock sells nine time earnings and westlake chemical. lauren: charlie smith. the bells cut us off. now "after the bell" starts us next. susan: kicking off the week in green. positive territory after a volatile session for the dow, gaining 65 points at the end of it, s&p 500 struggling for gains today. but it did edge higher at the close. tech-heavy nasdaq also ending up as well. i'm susan li in for melissa francis. connell: good to have you, susan. i'm connell mcshane. welcome to "after the bell" here is what is new at this hour. president trump versus general motors. the commander-in-chief ramping up pressure on the automaker for shutting down one of its plants in ohio.
we're live at the white house with the president's latest comments on that subject. pushing for universal basic income. one major u.s. city is looking to join the free cash movement. why the democratic mayor of the city is considering handing out checks even if you are not employed. then new details are emerging following the fatal ethiopian airlines crash that killed all 157 people on board. we'll bring you the latest on boeing at this hour. susan: let's check in on the markets again of the dow ending the day in positive territory. let's get straight to gerri willis on the floor of the new york stock exchange. gerri? >> that's right, guys. a little pause in the market as we await on federal reserve. dow inching ahead of the federal reserve meeting. at one point boeing carving 60 points off the dow, on report that flight data is showing clear similarities between the
lyon air crash and ethiopia air crash. it is all about the 737 max for boeing. apple shares were higher. company had a stealth introduction of ipad air and ipad mini. march 25th they will unveil a streaming strategy. they're waiting for that. warner brothers ceo, allegations of improper conduct by ceo kevin tsujihara. affair with an actress. casting her in productions. there is no successor named but lots going on in the markets today, guys. back to you. susan: gerri, thank you so much. connell: taking aim at gm. president trump continue to criticize general motors on the decision to close a manufacturing plant in ohio. edward lawrence live at the white house with all of this. reporter: connell, president with jobs on his mind. one blemish on the expanding economy with general motors jobs
related. the company announced they are cutting plants across the united states, including one in lordstown, ohio. they in fact made their last chevy cruz on march 6th. the president tweeting out to pressure the company to settle plant or retask cars to put into the plant and reopen it. gm says it has to close the plant because of customers demand. customers gone away from cars, moving towards suv and truck sales. experts in the industry say there is weakness in the market. >> the auto industry here in the united states is showing real signs of stress right now. sales are down from last year. prices are actually up. the average loan or the average monthly payment is up. exports are down. investment in the sector is down from last year. reporter: car sales also down, not just among gm but among all the dealerships. in fact ford basically gotten rid of all of their cars except for the ford mustang.
they're going to trucks, suvs, big sellers there. experts say that might be the shift in the market of the listen. >> i don't know that i fully agree this was something they could anticipate. you know back in 2015 truck and cars were about 50/50 in the market. now they're 70/30 with suvs and pickup trucks being 70%. actually has been a very, very dramatic change in consume every preferences. reporter: the president called the ceo of gm over the weekend to try to pressure her to change her mind. in fact he also called out the union bosses related to that hordes town plant to tell them get working for the people that rely on them. president trying to get jobs back to ohio. he also called on gm to close plants in china and mexico, move those car production back to the united states. back to you, connell. connell: edward lawrence on the north lawn. get to the market panel. adam lashinsky joins us today, fortune executive editor.
fox news contributor. we're joined by kevin kelly, benchmark investor. this is interesting from point of view of the president of the united states made the whole idea of socialism versus capitalism a centerpiece in some discussions publicly going after a private company for a move it says, the company says was made to maximize profits or minimize losses. what is your read on it? >> i see where you're going here, connell. i agree with the hypothesis you're framing. you're either for capitalism or you aren't. the irony we're in trade negotiations with china where one of our arguments to them, stop influencing state-owned enterprises. let them operate it will be a fair playing field. the president is doing this for political reasons. not good messaging for president of the united states to tell companies what to do. my opinion, will not dissuade him. connell: other side of it, kevin, the president made this case, you have these right-to-work states that are
better in terms of business environments than say what gm is dealing with as it tries to deal with the unions and try to make a new deal there but what's your take? >> yeah, my take this goes back to the auto business is complex an convoluted when it comes to supply chains. it talks about bringing jobs back from mexico but at the same time we still have tariffs on europeans. the biggest issue here is trump politicizing this. people don't want chevy cruzes. the president should talk about infrastructure. make sure the roads and bridges are not dilapidated so you can have a smooth ride on chevy cruze so you don't need a crossover suv. connell: what about, adam as basic political argument, do you think it works there? president is going to key state, ohio, this week, no accident this is brought up now? do you think it is works politically versus economically? >> one of those long term, short term things.
it clearly works to his advantage in the last election. people in ohio saying your jawboning didn't do us any good. we're still left with the raw deal, you said you would fix it. then it will work against him. susan: talk about pushing for a china trade deal. washington and beijing are reportedly pushing back the trump-xi summit to june according to south china morning post. deirdre bolton has latest on trade in washington, d.c. deirdre? reporter: susan, many investors expecting a pup to u.s. china trade talks. in fact sources say president trump and china's xi xinping were planning to meet at mar-a-lago at the end of march. then reportedly the meeting was pushed back to april. now it seems that june is the target. so the g20 summit will take place in japan at the end of june and some close to the matter say this is a possible place for the two leaders to meet. now the u.s. is pushing china on a number of long-standing grievances that include theft of
intellectual property, forced tech transfer and unfair competition. u.s. trade representative robert lighthizer, known trade hawk, he has been pushing the u.s. to get enforcement mechanism to insure that china lives up to the promises it makes. sources say that the biggest issues are these, for beijing which were alarmed by the proposals but most recently president trump struck an optimistic tone at the white house at the st. patrick's day reception. he said we'll have news on china one way or the other. we'll know in the next three to four weeks. he says china has been very responsible and very reasonable. then he added if this one gets done, presumably a trade agreement, it will be something that people will be talking about for a long time. back to you. susan: deirdre, thank you so much. presumably are we going to get a trade deal? bring back adam and kevin because the markets didn't really react to the news of meeting being pushed back to june so are the assumptions we'll get something at some
point, adam? >> yes i think the assumption is for a week or two now we'll get something at some point and furthermore that it won't be particularly meaningful which is what the market wants short term. they want an end to this trade war and market, investors, short term investors really don't care about anything else. susan: what do you mean they don't want it to be meaningful? supposed to be more every lasting, more penetration in the chinese market, want to you clarify that? >> the last 20 years have been very good for investors the way things have been working. i'm not downplaying the importance of having a trade deal with china but i think traders, investors in multinational corporations really don't care. what they want is the tensions lower. susan: is that true, kevin? >> i think what adam is trying to say they don't want to see volatility when it comes to the president talking about actions and slapping 200 billion more of tariffs here and there where the market was being surprised by some of the rhetoric coming from the president. also i think the market wants
rhetoric from this administration to go down. we had market movement depending whether peter navarro was going to dinner or not. >> well usaid. >> what is going to happen here the market doesn't see anything meaningful on the state-owned enterprise side as well as intellectual theft. i think that is for later time should president trump be reelected. i think chinese will wait out this election cycle for anything meaningful to happen. connell: interesting. another thing we're watching today, ipo of the ride-sharing did lyft. lyft kicking off its road show today to promote its initial public offering. the company seeking a valuation of up to $23 billion. to be listed on the nasdaq at the end of the month. right in your wheelhouse, adam, the technology world, talk to us about a valuation that high, 23 billion or up to 23 billion for lyft? >> right. sometimes these things are complicated and sometimes they're pretty straightforward.
lyft's business is one-fourth of uber's, this is fourth of uber's broadly speaking valuation. that is what they're going for. both valuations are preposterously high. neither company makes money. no prospects to make money, that is not important right now. connell: not important right now, but it will be. when the company goes public, adam brings up an interesting point because uber is also planning an ipo so how things go for lyft might if i have us an indication how things will to for uber, what do you think? >> absolutely. i think it will be indicative of the reception uber is going to get. if you look at the valuations they're talking about, they're at upper end of enterprise value. netflix valuations without netflix type of corporate governance. what i mean by that if you are looking to participate in the lyft ipo you will be giving up your votes rights. you see management wants to keep control of company take your money, own less of it. it important to note this is more of a pure play on the self,
on the shared economy when it comes to rides. uber is little bit different. hands are in so many different cookie jars. scooter to uber eats. connell: final point adam, they're not only ones, kind of had to pick one to get excited about, should it be lyft or uber. should it be slack or pinterest? buzz is doing well. forced to choose. kevin, thanks a lot. move on. thanks to all the time. appreciate it. susan: airbnb.
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connell: beto or bust. he was a failed texas democratic senate candidate, beto o'rourke, boy is he raising a lot of money, $6.1 million in the first 24 hours after announcing he is running for president. that beats out bernie sanders and every other candidate who released numbers. fox news contributor doug schoen with us, pollster for bill clinton among many others. those are huge numbers. >> they are. connell: what do you make of it? >> well i think he is sort of anti-systemic, vaguely populist, vaguely centrist appeal hits a responsive cord. the real question whether it will be as responsive as chord as necessary when he is not running against ted cruz. connell: that is what made him popular in texas.
>> exactly. connell: a lot of money he raised in texas came from outside of the state with activists, what have you. i covered him a little bit when he ran for senate. went there in texas spent the day with him, interviewed him. he is charismatic, we see him on the campaign trail here, we don't necessarily, maybe this is the point you're getting at, don't know where he stands on bunch of issues? >> no, we don't. he did "60 minutes" interview, greater minds than him would have to help him figure out iraq, iran, syria. connell: all things to all people thing. maybe half a genius by playing that game for now. everybody sees something in him that they like. polling numbers up here for candidates. joe biden still not in the race. he still gets the best numbers. >> correct. connell: obviously the best known. >> best-known and well-liked. i don't think this is the year for a 78 white male who is more
after centrist than a progressive. he is going to run as progressive but his bonefides are much more -- connell: you don't think he can get through the primary? >> i think it will be very tough, connell. connell: similar with mike bloomberg you worked for. joe biden, former vice president of the country to be fair. >> broader exposure, broader awareness but it isn't clear to me given he is gaffe-prone, he doesn't really have a program. that he is linked to obama, which while it is positive is not an una bashed positive. connell: it might be a mistake for democrats if they don't nominate joe biden, if you look at other numbers, new poll out for emerson college in wisconsin, which is key state. surprise it went to president trump last time around. biden, beats the president as of now quite handily in wisconsin, that it is outside the margin of error. all other candidates are within the margin, very close. >> here is what i say, connell, dispense with the primary,
nominate biden and kamala harris -- connell: running mate? >> we would be in the strongest -- connell: you don't think that will happen? you think democrats go into a different direction? >> i think it is fratricide. i would have to bet on beto, kamala, bernie sanders i would make them favors over joe biden. connell: who do you think president trump is favored? >> i think he would love running against bernie, taking age off the table. running against beto, beto is like this. connell: warming up with that joe biden he had a tweet about it earlier today, he finds that more difficult matchup or at least his people -- >> i think it is hard for donald trump to run against a black woman of substance like kamala harris. connell: kamala harris, if not joe biden would be the best bet from where you sit?
>> kamala and biden, with biden number one. connell: we'll do the interview 35 more times. >> i look forward to it. connell: doug schoen on the numbers. susan? susan: i look forward to it too. free cash for unemployed. basic universal income plans to provide residents with monthly paycheck regardless of their job status. ford o'connell, civic forum pack chairman sounds off. new information in the boeing probe. federal prosecutors getting a closer look at the development process of the company's 737 max following two deadly plane crashes in five months. the latest details coming your way next. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees
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the very latest. hi, jeff. reporter: hi, susan, that news, as well as news from the "wall street journal" today about the investigation of the certification of the 737 maxs also weighing on the stock. this is a stock that just hit an historic high just this month, historic high of $44 a share. now as you report it is down another% 1/2 today. 372.28 the close. a loss this month of, well, approaching 10%. the headlines in addition to the one headline that came out over the weekend which was that those two crashes, indonesia crash, lyon air, then the crash in ethiopia, similarities between those apparently, although the black box data has not yet been fully analyzed, enough similarities to not look good for boeing. then on top of that, "wall street journal" reports two significant developments with regard to looking into the
737 max and its approval process. specifically, the journal says that a grand jury in d.c. has subpoenaed boeing employee who was involved in the development of the aircraft. that would be a criminal prosecutor looking at that. in addition they say that the d.o.t., the department of transportation, inspector general, is also looking at how that system, you know, the anti-stall system, the manueverrability system, that it is suspected in connection with the lyon air crashing looking how that was approved by the faa maybe boeing got a little bit of a break somewhere on that. and so, neither of those things good. i will give you statements from the faa and boeing, that is the other side of the story. if aa says the getterification processes are -- certification proses are well established. produced consistently safe aircraft. boeing saying the max was
certified in accordance with identical faa processes and governances and all certification of previous new airplanes. keep in mind, susan, this was not a all new airplane. this was 737. 737s had remarkably great safety record but boeing made significant changes in this, specifically with respect to technology. where it placed the engines and this anti-stall feature which could have potentially, with only one sensor given out bad data. so did the faa maybe not take as hard of a look at this as they should have. that is apparently under probe right now. susan. susan: boeing 737 is the best-selling plane. around since 1977. reporter: you said it. connell: the college admission bribery scam moving to capitol hill. one law maker is pushing legislation to help working class students. that sponsor is republican congressman tom reed.
he joins us next. amazon says no to new york city. many voters in the state calling congresswoman alexandria ocasio-cortez a villain because of that. the fallout from that coming up next. ♪ (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking) (♪) ♪ ♪ i can do more to lower my a1c.
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susan: new details emerging in college admissions scandal. what we know about the biggest emissions scam in u.s. history. exposing loopholes in the college admissions system. kristina partsinevelos is following it closely has the latest. reporter: this story hit a nerve with the lot of people. shows how the super-rich game the system and how uneven the playing field is for everybody from all income brackets or lower income brackets. the latest, pimco told reuters a blacker asset management firm, some of their employees engaged with the ringleader behind all of this and they possibly could have used the bribery scheme. they don't know of any of their
employees are involved in any wrongdoing. but you have several people have been involved. a lot of big business leaders, including one, the first parent who said he will plead not guilty. this is david sido, you're seeing on the screen. he was ceo of lithium corporation. he is headed off to canada for a bit. he is no longer associate yo he. you have manuel enriquez, resigned as ceo of hercules capital. a huge attorney, gordon kaplan, who has taken a leave of absence. not just business guys we want to talk about the celebrities because they constantly come up given their media presence. lori loughlin you may remember from "full house" back in the '90s. a relatively popular star on hallmark. the latest, ""fuller"fuller hout go of lore roy loughlin.
her husband, founder moves sim mow clothing released on one million dollars bond. their daughter, olivia jade, who benefited from bribery, lost corporate sponsorship deals from tresemme and siphora we're speaking about her daughter. there is video from 2017 we pulled from her youtube channel, olivia is very, very popular on youtube. listen in to lori loughlin making fun of the education issues with her daughter. >> if you would have said england is your city. why did i pay all this money for your education [laughter]? reporter: there you have it. of course at this moment in time we don't know exactly what will happen to all these stars. they have been allegedly charged. you have 50 people involved. the worst case is they could face up to 20 years in prison if convicted. and then you have the situation with the schools now. they have to decide what they're going to do with the students. will they let them have the degrees and take back degrees of
those who benefited? there is still a lot of unanswered questions. susan: long look at system. kristina, thanks. connell: we're joined by republican congressman tom reed from new york. he is sponsoring legislation which would require colleges to disclose the number of legacy students and students of megadonors in this bill, the reduced bill for working class students. congressman, good to see you again. sounds like something not directly related to what kristina reported on, something we talked about almost because of the scandal. tell us what you think is important about disclosing? >> i'm sorry to say this appears just to be a tip of the icebergs something we've been warning about for years. we need higher education where the dollars are going, where the donors are going. where the families are involved in the process. we need moreness transparency. connell: i want to make a difference between what is legal
under the system, people may not like what is legal, but what is what kristina talking about, which is illegal. legacy students, had a parent went to certain university, you applied many times have a better chance to get in. do we not know that now, is that the point? >> that is part of the point. we don't know the relationship because, disclosure requirements on higher education in my opinion are complex, they're convoluted. look at form 990, which is non-profit return they have to file they're voluminous. like looking for a needle in a haystack where the money is going, where the money is coming from. connell: right. >> having a quicker, more concise disclosure requirement we can hold higher education accountable for increasing college costs going through the roof. connell: what about the big-time donors? that is a little complicated, congressman. some people look, say, boy, if you get a building named after you, give millions dollars to a school, what about my kid? schools would argue, they say we
need to have some of those types of students allowed in, that is how we build endowments. in theory we give out scholarships and like to other students. is it little bit of a gray area or complicated issue? >> it is. that is where the heart of our bill, the reduce act gets to in saying. are you giving because you're giving to be charitable? are you giving because you will get some type of consideration in exchange? if you are getting consideration in exchange for gift, you shouldn't get a tax benefit under not-for-profit rules to take advantage of the deduction on income tax return. that is the distinction i think we need to go into this eyes wide open with. connell: that is very interesting. we'll follow that, see how it works out. i want to get your thoughts on trade in a second but anything you learned from the scandal, specifically from this scandal that should lead to some change? i know your bill doesn't directly address that? >> what i learned from this, again lack of transparency, but amount of money we're talking about, going to higher education
in ways that we as parents, we as people that are listening to stories of somebody coming out with debts 200, 300, $400,000. lack of transparency in my opinion is tip of the iceberg. will grow as we go forward. connell: keep eye on that. the trade issue i want to ask you about, something we don't talk bull at time, we should be talking about, the new nafta. we haven't heard as much about it, we talked to you about it in the past, whether the usmca as it is called will pass in the congress. give an update? will it pass? >> it needs to pass. we spent hour, hour 1/2 with the trade ambassador, small group of members, bipartisan group in the problem solvers caucus. we're at the time now, we need to pass the mexico-canadian agreement. our farmers are requiring it. our business leaders are requiring it. manufacturing communities but overall as we go into the negotiations with china, having mexico canada on the books is something that is going to have
to happen here in the near future. connell: if and when it passes do we roll back, get rid of steel and aluminum tariffs put in place? >> i think you're at a point when we get this passed those tariffs will obviously be a thing of the past, rightfully so. now we have fair agreement we can operate. we don't have to rely on tariffs with regards to the way we are today. connell: congressman always good to talk to you. we'll check back with all the issues. >> good to be with you. susan: virginia moving closer to making amazon's hq2 in chris it- crystal city. the arlington board approving incentive package despite protests. alexandria ocasio-cortez leading the pack of officials and new yorkers consider the villain in amazon canceling its plan to move to new york city.
here new york state assemblyman ron kim. ron, great to have you. talk about northern virginia
first off, they finally approved the final 23 million-dollar incentive package, 150 million-dollar incentive package to lure amazon to build the second headquarters in that state. yesterday after six 1/2 hours of protest, discussions they finally made the approval. a lot of people showing up, angry, shouting shame, shame, shame. they had the same concerns that new yorkers had as well which is boosting up rents, making it unaffordable, congestion, traffic, also the overflow into the schools. what did they do wrong maybe new york city did right in your view? >> government should never be in the business of picking winners and losers. i think virginia has made a big mistake, committing taxpayer dollars to the growth of one of the biggest megamonopolies in the world. you have ever seen in the history of humankind.
we should not be sub sy sizing the growth -- subsidizing growth of big corporations especially
when they ultimately add to the extortion, exploitation, extraction of value and wealth in local communities that we've seen big tech companies do over time. susan: ron, some would say crystal city in a lincoln town was pretty smart in this. new york wasn't. amazon brings 25,000 high-paying jobs. 150,000 on average. they would only get tax incentives once they create those jobs similar to new york. we had 3 billion-dollar tax incentive package. amazon would give you back $20 billion in tax revenues over 10 years. is that the right move? >> out of the $3 billion we would be getting $500 million up front. so they are getting money up front. susan: 2 1/2 billion up front to build the infrastructure. isn't that a lot bigger number than the $500 million? >> if you look every single megadealer we constructed last 20 years, cost the country close to half a billion dollars, 500,
i'm sorry, close to, close to 450,000 to $500,000 a job. that is not -- that is not good enough. we need to hold these corporations accountable. in up state, new york, buffalo, costing us almost a million dollars per job for tesla and for solarcity. we need to have stronger language when we go into deals there are clawbacks accountability for taxpayer money. susan: sit your understanding when it comes to taxes there is $2.5 billion short fall in new york state. amazon would bring the jobs. pay more in taxes, get more in corporate revenues. >> amazon could never commit to 25,000 jobs. they never, from the get-go, from the hearings, they could merv commit to the quality of jobs. quality of jobs they are producing. $5,000 coming to new york. the key to add intrinsic value to places like city and state of new york which attracts people, attracts people.
that is the pipeline we need to be focused on. not trying to bribe corporations -- susan: there is no bribery. only get the money once they created the jobs. 5,000 jobs is not 25,000. ron we'll have to agree to disagree to this i have to move on to one more question. this has to do with alexandria ocasio-cortez because it seems that the sienna poll she is probably the biggest villain in amazon not coming to new york. someone arguing -- new york state what about my credit here. what do you think? >> this was never about one politician being the villain or the hero. this was about coalition of grassroots and community leaders coming together to being one voice. aoc, kong member alexandria ocasio-cortez has stuck up for the community she is representing this was never about, any politician. it was about amazon not wanting to be in the spotlight. the last thing amazon wants to face is congress member ocasio-cortez at congressional hearing explain to the world why
they are engaged in antitrust practices for last few years. those are the type of questions they're trying to avoid. just like any big corporation, they want to make money and produce profit quietly. there was too much noise going on in new york city. they wanted to avoid it. so the biggest culprit here is amazon. any politician trying to pit people against others, politician and blaming politicians and vilifying elected officials is going down the wrong path. this was about a big corporation trying to pit citizen of a state against each other. they failed. susan: the mayor and governor didn't agree at the time. i guess we'll have to agree to disagree. ron, thank you for making time. good to see you as always. >> thank you. connell: interesting to see de blasio and como listed as actually -- susan: wanted it. connell: supported deal. that is how people saw it. guaranteed incomes is topic a lot of people talk about. guaranteed universal income whether you have a job or not. newark, new jersey is toying with the idea. what we know about the
democratic mayor there possible ramifications of the plan. we have civic pac chairman ford o'connell. ♪ to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪
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susan: guaranteed income for all. new jersey's largest city no less. the mayor of newark announcing creation of a task force to explore universal basic income pilot program, but with no details how such a plan would actually be paid for. joining us, ford o'connell, civic forum pac chairman and republican strategist. isn't that the question, especially when you have a $10.5 billion budget deficit in the state of new jersey, which is one of the largest in the country? how do you pay for it? >> i think what the newark mayor proposed failed just about everywhere it was tried from
finland to canada. the reasons are very simple as you pointed out. cost sustainability and concerns about -- i think there is larger draw back here when you listen to the mayor of newark, that they're concerned about income inequality and unemployment but frankly the big drawback to universal basic income, it provides disincentive to work or work harder. joe biden said when it comes to jobs, they are a lot more than paychecks that has not stopped democrats to pursue this. susan: is this policy by slogan includes one from former mayor of newark, cory booker? >> look, absolutely is. the democrats have a solution to you will after america's problems, whether housing, health care, guaranteed jobs. that is socialist policies. they will tell you about government directed policies, take control of resources productivity in this country and cost will be north of $93 trillion over 10 years which is larger than the gdp of the
world. susan: by the way, almost exactly how much the government spends each and every year, that includes medicare, defense, social security, you name it, et cetera, et cetera. i'm glad you brought up socialism because bernie sanders is trying to explain what socialism actually is because it is hugely unpopular with the majority of americans but why don't we take a listen to bernie sanders? okay, i was going to play some sound. i will do it myself. he would do a better job explaining it. it's a living wage, not free health care or free college and the rest. do you believe him. >> this will be the great debate of 2020. the democrats will duck, dodge, tell you this is not socialism. the reason why they want to tell you that because socialism is only popular with 25% of americans, even though some of these individual policies are extremely popular with the american public. essentially, if the republicans sort of ignore this, they don't take it head on, they will be in
real trouble. we all know what the record of socialism is. it had a long record of death, destruction and despair all across the world. look, best way you know socialism is not a winner in terms of long-term growth, look at china. right now they're trying to move from socialism to capitalism. but republicans have to win this debate. if they don't win this debate, donald trump may lose. i think what is most amazing about this, susan, at a time americans are having one of the best economic moments in modern american history the democrats are pushing socialism yet, it seems to gain traction. susan: i would call china more communism than socialism. i would say larry david would deliver that message better than bernie sanders. ford, good to see you. >> thank you. connell: very nice. very nice. as we move on here, the deadly flooding really taken over a good part of the midwest. terrible, terrible stuff. we'll have latest details breaking after this quick break. we'll be right back. ♪ beyond the
record-setting flooding in several midwestern states, leaving a number of towns in ruins. the threat prediction continues. moments ago, president trump tweeting about this, saying my team's staying in close contact with the governor of iowa and the local officials managing these floods. we support you and we thank you. all the first responders working long hours to help the great people of iowa. that's from the president. let's get more on all this. reporter: one of the big problems crews are experiencing are the huge ice jams. they are seeing them in multiple rivers and they are pretty extended. you will remember last week, the whole midwest had this bomb cyclone, you had heavy snow and lots of cold, wet rain that came in that also contributed to this. we have video coming in from fox news multi media reporter charles watson from nebraska, where he told us the town's waste water treatment plants and sewage plants are submerged.
folks who were living in campers were flooded out. right now, nine million people in 14 states live in an area where there is a flood warning in effect. that's according to the national weather service. the nebraska emergency management agency says rescuers who helped 290 people escape the rising waters as roads and bridges are washed out. the town of freemont, nebraska is cut off by the waters and authorities are hoping sometime today the water recedes enough to allow access. >> water level at north bend and further downstream, those levels have both dropped. there's not actually a gauge at freemont but the gauges on both sides of freemont show a decrease in the level of the river. reporter: national weather service says that these conditions are going to continue into wednesday. connell: those are some pictures. thank you for that.
just terrible flooding. something to see. susan: some bad weather in the last few weeks. bomb cyclones. connell: that's true. it does always seem like something. thanks for joining us. you're with us all week? susan: i am. connell: see you tomorrow. "bulls & bears" starts right now. david: the clock is ticking. president trump now demanding gm find a way to reopen one of its plants, urging the automaker and the union to come to the table right now. the pressure is on. this is "bulls & bears." i'm david asman. joining me in the panel, kristina partsinevelos, liz peek, jonathan hoenig and john layfield. the president racheting up his criticism of general motors. one of his tweets reading because the economy is so good, general motors must get their lordstown, ohio plant open, maybe in a different form or maybe with a new owner, fast. toyota is investing