tv The Journal Editorial Report FOX Business September 22, 2019 10:00am-11:00am EDT
thanks so much for watching "strange inheritance." and remember, you can't take it with you. mom. eric: lisafoundation.org. we don't want any more. ♪ ♪ charles: welcome to journal editorial report, i'm charles payne in for paul gigot. some 2020 presidential candidates calling for the impeachment of justice brett kavanaugh following a new york times report recounting a new sexual misconduct allegation. that report later corrected by the newspaper to note that the purported victim refused to be interviewed and that friends say she has no memory of such an incident. so is this latest episode part of an ongoing campaign democrats are waging against the high court, and are there more to come? let's bring in "wall street journal" columnist and deputy editor dan henninger along with columnists kim strassel and bill
mcgurn. kim, i also read earlier in the week that maybe there was going to be a three-pronged approach for the democrats in 2020 to create villains of president trump, mitch mcconnell and brett kavanaugh. >> yeah, look, i put this in a much broader context. you have a democratic party and a resistance left that are, remain very bitter that they lost this last election. and so you see them try to change the results of that by going after president trump with what was a phony collusion hoax narrative in the end. but this is them trying to do the same thing with the court. they're very bitter that they lost the court, that the president has been able to put two conservative jurists on it. and so they are attacking the credibility of one of them, and they are trying to either change the koch decision of the court -- composition of the court either via with impeaching or court-packing, or trying to intimidate the members into
ruling their way. we should expect much more of it to come. charles: dan? >> well, you know, i think this really could backfire on the democrats. it once again elevated the kavanaugh issue. remember that confirmation, that was one of the most bitter political contests we've had, and it really angered a lot of conservatives. it a angeredded a lot of people who just felt the whole idea of due process was being trampled. if now here -- and now here we go again after a very thinly-sourced new york times story with the democrats reelevating the kavanaugh story. now, i think that the election next year is going to be all about turnout on the right and on the left. and the democratic goal is to try to suppress turnout on the right, get people upset about donald trump, they don't like him enough to vote for him. but what they're doing is elevating turnout with the kavanaugh story. they're reanimating republicans, conservatives and each independents who are upset -- even independents as the way this divides democrats. charles: there are a lot of republicans on the fence about
president trump that will be moved off the fence and into the voting booth because of this issue and the way it's been handled. >> yeah, look, in the last election supreme court was one of the big issues that donald trump had going for him. a lot of peopled people had thes about donald trump looked at the judges he was going to pick, and that's why they voted for him, right? i agree with dan, this is going to turn out -- one of the things the that's important to point out about this story is they made this epic blunder by not putting in the alleged victim has no memory. even if they had put that in, this is a go bus story. -- bogus story. there are no eyewitness accounts. the man that they claim is the source of this new allegation, it wasn't new. he told the senators back then. i don't believe the democrats would have sat there if they thought they had an eyewitness to brett kavanaugh doing something disgusting. we still haven't heard from him. and, in fact, if you look at the times investigation, the real messages after a year of digging we have no more evidence to support it and, in fact, the one
bit of news they had was leland kaiser, the woman that was christine ford's best friend said i don't believe her story. charles: yeah. you know, kim, if president trump is reelected, there's a good chance he'll have a chance to appoint yet another supreme court justice. what do you think then the efforts will be then to sort of smear the process, to smear the highest court in the land? >> well, i don't -- i couldn't even hardly imagine given what we witnessed in kavanaugh which was probably one of the ugliest things, and were he to have the chance to appoint another justice, it's going to be even uglier because that would guarantee a more conservative bent on the court for a long time to come. i think what we're going to see more are attempts to intimidate individual justices to vote certain ways on issues. i think this attack on kavanaugh was very much directed at potential upcoming decisions on questions of abortion, for instance. we saw that this strategy worked
when the left went after the legitimacy of the court and john roberts over the census question in the summer. and in the end, chief justice roberts did end up voting with the liberals to provide partisans on the left what they wanted. this is what i see becoming more likely because they know it has the potential to work. charles: dan, that's a pretty serious charge, the idea that these justices could be swayed perhaps against their own interpretation of the constitution by public opinion. >> yeah. well, that is what the left is clearly trying to do. they want to intimidate kavanaugh and is justice roberts. i think one of the problems politically is joe biden is the front-runner, he's trying to run a return to normalcy, moderate democrat, no more merciness of the trump -- craziness of the trump presidency, and as soon as this story came out we had five democratic ate candidates saying impeach justice kavanaugh.
they're more or less ending up defining the democratic party as the party of the progressive and angry left, not the moderates of joe biden. charles: is it going to work, bill? >> i don't think so. senator durbin said we can't be the party of impeachment, thattal we're going to do is inpeach, impeach. and chairman nadler said, you know, one at a time. we're working op donald trump -- charles: that was something, when nadler said -- [laughter] >> it's not popular opinion. it is an orchestrated campaign of smears to intimidate. it's really ugly, and it's meant to attack the legitimacy of the court. charles: all right. hey, when we come back, impeachment talks. well, it's not just brett kavanaugh, of course. the house judiciary committee holding its first official inquiry into president trump this week, but did democrats get the answers that they were hoping for? ♪ ♪ tv announcer: it's just as powerful as the lexus rx... as many safety features as the rx, the new... the lexus rx has met its match.
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another way. are you the hit man, the bag man, the lookout of all of the above? >> i think i'm the good looking man, actually. >> you didn't think that was illegal, to obstruct justice? >> congressman, the president hasn't asked me anything illegal. >> you should be telling the truth -- [inaudible conversations] >> the truth will set you -- >> the time to have gentleman -- >> i yield back. is. >> the witness may answer the question. >> i don't believe there was a question, congressman. charles: the first witness in the house judiciary committee's impeachment investigation testified on capitol hill this week, and former trump campaign manager corey lewandowski didn't exactly give mawickers -- lawmakers the answers they were looking for leading some democrats to openly question the wisdom of bringing him before the house panel. a new poll shows that just 37% of voters support beginning impeachment proceedings while
half approach it. dan, let me start with you on this one. that was one heck of a show, for sure, although i'm not sure what was accomplished. >> show was the word. what corey lewandowski did maybe in a first time of a witness appearing through this whole investigation, lewandowski went up there and treated the whole thing as farce, and he reduced it to farce. and from the clips we just saw, the democrats were playing their role as well, ranting and raving at him. they are really running the risk of the party beginning to look like a farcical party. and polls suggest that most people out there think the democratic party is becoming defined by these investigations and nothing else. and this is beginning to make a lot of other democrats nervous. i mean, there's a story in politico last week about how nancy pelosi and chairman mad her are beginning -- nadler are beginning to develop something of a schism over this. but the nadlers and schiffs of the world are determines to keep
pushing this impeachment narrative. so there's been one failed thing after another, russian collusion, obstruction, trump's taxes, stormy daniels, this week the whistleblower thing rose up. and with lewandowski finally saying, blowing the whistle, in effect, on the democratic investigation, they've got to step back and decide are they going to run this out for the next 14 months or try to turn to something more substantive. charles: bill, the farcical nature of these hearings and these investigations is one thing, but think it brought it out to the general audience who's not necessarily watching everything out of d.c., feels like this is a party filled with anger, and anger has replaced any notion of legislation. >> right. it's a side show for -- first of all, it's not an impeachment hearing. the only way you can do that is a full vote on the house floor. chairman nadler has three problems. even if they did impeach president trump, it's not going anywhere in membership mcconnell's -- mitch
mcconnell's senate. second, some of the people that want it are going to figure out that it's a farce too on the left, and they'll be angry with them for teasing them but not following through. and the third is not just mrs. pelosi, there's not enough votes. it'd be really embarrassing for the committee to, you know, vote for impeachment and then for a vote to fail on the house floor because a lot of these moderate democrats, the reason the democrats have a majority now and nancy pelosi's speaker is because they won in a lot of districts that trump carried, and those people don't want impeachment. like my congresswoman, mikey sherrill, she doesn't want this because this could tip people over. the public, as you say, just another washington spectacle. charles: kim, of course, all this gets back to nancy pelosi and the difficulties she's had in her role as speaker once again. she's dealing with the aocs on one hand, the nadlers on the other hand, and she's trying to appease this ever-divided democratic party.
>> yeah. and it's not getting any easier. i think that nancy employees eye's hope was -- pelosi 's hope was that she would let the kind of passions run a bit up through the summer, that it would burn itself out, and she could proceed with an agenda this fall. that's not happened. and, look, i would just point out though that the democrats have brought this on themselves because when you spend two years or longer claiming that the president of the united states is is corrupt, has broken the law, is a potential traitor, a manchurian candidate working with russia, of course your base is going to say, well, you must remove him from office. you can't just leapt a person like that continue in place. so having done that and run on that, now they're forced to do something about it, and this is why you're seeing this impeachment theater which, you know, isn't even real. nancy pelosi, i mean, this was the real part of the lewandowski hearing is it wasn't even a real
impeachment hearing because they have not had the courage yet to force their members to take an actual vote on the floor of the house to commence impeachment proceedings, which is the way it's supposed to happen. and so we're all going to be subject to this continued theater until they decide to either stop it once and for all or do it the real way. charles: you know, dan, again, to kim's point, if they're waiting for it to burn itself out, this is going to be a supernova. it's going to be spectacular. so we've gone from russia, racism, recession, i'm not sure what the next r is, but it's going to come between now and the election. >> yeah. and as bill was suggesting, there are at least 34 moderate democrats in the house who won the election last time by replacing republicans, and they have gone in personally e to pelosi pleading with her, we have to get on to a different agenda, we have to start talking about health care. we want to talk about infrastructure. we want to move forward perhaps on the mexico-canadian trade deal.
we want something substantive we can take back to our middle of the road constituents. but as you say, you've got an angry left, angry democrats with this moral that gnat schism that are refusing -- fanaticism that are refusing to let these moderate democrats elevate their agenda in the house. nancy pelosi can't repudiate the left, and she is in a very tough spot in trying to push them off and bring something real to the surface in the house of representatives. it's probably not going to happen. charles: all right. let's leave it there. when we come back, elizabeth warren draws her biggest ever crowd at a rally in new york city this week as the liberal media touts her momentum. but which democrat is in the best position to take on president trump,ing and what new polls are telling us next. ♪ >> you know, whoever it is, my attitude is whoever it is, elizabeth warren is doing better than joe right now, joe's having a hard time. we'll see what happens. whoever it is, i'll take 'em on, is and i'll do well. ♪ ♪ (dramatic orchestra)
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♪ ♪ charles: new postdebate polls showing the democratic primary shaping up to be a three-way races with joe biden, elizabeth warren and bernie sanders the top contenders in 2020, but the momentum is widely seen to be with warren who drew her largest crowd yet at a campaign rally in new york city this week. and despite all the love she's getting from the left, the massachusetts senator still can't seem to answer that question about raising taxes on the middle class to pay for her health care plan. >> you keep being asked in the debate how are you going to pay for it, are you going to raise the middle class taxes. >> right. >> how are you going to pay for it? are you going to raise the middle class taxes? [laughter] >> so here's how we're going to do this. costs are going to go up for the wealthiest americans, for big
corporations -- >> [inaudible] >> yeah. and hard working, middle class families are going to see their costs go down. >> but will their taxes go up? >> but here's the thing -- >> but here's the thing. i've listened to these answers a few times before. charles: we're back with dan henninger, kim strassel and james freeman. james, no one's really pushed back on her so far, and she seemed to be caught flat-footed, that he didn't just roll with it. >> it's kind of a sad commentary on the reporters covering her campaign, isn't it, that it took this comedian to ask her the big question, which is where is this roughly $30 trillion going to come from? she's detailed these taxes on the wealthy and business that'll get her about $3.5 trillion. she needs to cover a few tens of trillions more, and joe biden mentioned it, but not many other people have. charles: although late in the week, danny, we heard pete
buttigieg talk about it a little bit more, it feels like the moderates are really trying to knock down her momentum. >> well, it's the latter. i think after colbert, this is becoming an issues the where's waldo question for elizabeth warren. the one thing he won't answer is whether taxes are going to go up on the middle class. now, bernie sanders got this behind him, right? he said, yes, payroll taxes will go up, health care taxes are going to go down, it'll be a wash. but she's talking about all these complicated plans, and i think they are just going to keep pressing her, and it'll become the single issue at the center of her campaign. and the answer is is inevitably taxes are going to have to go up for the middle class, and she just doesn't want to say that. and you can bet if she gets the nomination as some people are suggesting, donald trump will ask her every waking hour. charles: although, kim, i'm starting to wonder if this will
be something that stops her from getting the democratic nod. this week germany put through a climate pill that cost $55 billion. 63% of the people say it's worth it, they're willing to take an economic hit to do the, quote-unquote, right thing. she may just start saying whatever it is, it is. because it feels like it's got that kind of momentum in her party. >> well, that's what they already are all saying. look, i can't even add high enough to keep track of all of the plans they've got and what it would cost. and there seems to be no care out there among the candidates or among their constituencies that there simply is no logical or conceivable way that you can pay for all of these things; medicare for all, free school, free college, free everything, a climate, you know, green new deal that could also cost tens of trillions of dollars. so i think that the price tag issue doesn't even matter so much at the moment. i do think the more important
aspect of this this is that warren seems to have lost her grace period. she had been basically given a pass by everybody for the last few months, and she's used that to great effect and to her advantage, climbing in the polls. but now having managed to get that attention and notice and consolidate her position a bit, her rivals are going to begin aiming at her, and she's going to get some real incoming especially in this next debate. charles: so, james, it boil down to obamacare 2 the.0, medicare for -- 2.0. essentially, it seems to have the most momentum in her party, and if she's campaigning on that, if you shoot the merge, are you shooting down medicare for all? >> the reason they call it medicare for all even though it actually gets rid of traditional medicare, is they know people don't like it when they say we're going to have one government health care plan covering everybody, and you're not going to have any more private insurance. and most of your government
plans are going away, you'll be rolled into this new one. so i think there's a reason she has described it that way, and there's a reason she's not comfortable telling us all the taxes that are going to be needed to pay for it, because the real deal is not that appealing to people. charles: you know, dan, you mentioned president trump take a go at her, but republicans really don't have the kind of leverage they had in the past, you know, being so concerned fiscally, concerned with our debt levels rising the way they are right now. they lose a little bit of that edge. >> yeah, they do. i mean, the one thing because the president has a lot of spending to rise, he cut taxes significantly and produced a strong economy. you have to show that causality between the tax cuts and the economy. the democrats, on the other hand, i think the internal ballots are just becoming more and more fascinating. in these recent polls, joe biden still sits at the top. the polls have warren and sanders kind of jockeying for number two position. but the two of them are
beginning to look like kind of a third party inside the democratic party because they just steal votes from one another. combined the progressive vote exceeds that of joe biden. if we roll forward and joe biden keeps coming in at the top with iran is -- with warren and sanders stealing votes from each other, the progressives are going to wind up disappointedded that one of them didn't drop out. charles: it ultimately comes down to two candidates, and if they were to join forces, james, it would be a formidable juggernaut. they would have the largest share, the plurality that it holds. >> we'll see. i'm not sure voters are as ideological as these candidates. a lot of sanders' -- charles: first and second choice, warren a juggernaut. she's number one in first and second choices. >> for example, a poll showed that the second -- most popular second choice for voters is biden. he wouldn't necessarily have guessed that. so we'll see how it shakes out. to kim's point, i think this
grace period with fawning media coverage may disguise some of her weaknesses. they haven't gotten into how she falsely claimed to be a native american for years. in a democratic party very concerned with identity politics, i think that will be an issue. charles: all right, we'll see. great stuff, thank you. still ahead, president trump stepping up his attacks on jerome powell following the fed's quarter point rate cut this week. we'll take a closer look at powell's message and what to expect in the future, next. ♪ ♪ i mean, if you haven't thought about switching to geico,
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♪ ♪ >> i don't think he knows how to play the game very well. they've raised too fast. i've been saying this openly, and they've lowered too slow. and he took 25, some people were hoping for 50. he took 25. so i'm not thrilled with the fed, but despite that, we have an incredible economy. charles: president trump stepping up his attacks on jay powell this week after a sharply-divided federal reserve lored its benchmark interest rate by just a quarter point and declined to signal whether further cuts are likely. the president saying, quote: jay powell and the federal reserve fail again. no guts, no sense, no vision. a terrible communicator. don luskin is chief investment officer at trend macro, and he joins us now. so, don, wall street was expecting 25 basis points, they got it. jay powell's communication seems to have gotten p better, but it
still feels like no one knows where they go next. we're not sure what the powell doctrine is, we don't know what this fed is all about. >> the problem is we've had a series of very strong fed leaders going back two general its rations, paul volcker, alan greenspan, ben bernanke, janet yellen. they've been good communicators is and leaders because they're economists who come in with a strong policy vision, and they're like ceos. they bring their staff along, and they bring their board along. now comes jerome powell. he's an attorney, he's a private equity executive, he's not an economist, he doesn't have a strong vision. trump says he's a poor communicator, i don't disagree with that. he's also a poor leader, or at least he's abdicating. he doesn't have a vision as a strong ceo who's supposed to bring people along with a vision. i think that's what ceos do, that's what every fed chair since the '80s has done. so the market is having to get used to the idea of a fed chair who just simply counts votes.
so we have no idea what the fed's going to do because the fomc is just 12 votes where out of 12 people drawn from all across the country you're going to have some hawks, some doves, you never know. so there is no vision. there's no vision to communicate. charles: great point, and that was also underscored in the so-called dot plot, you had a couple that wanted to do nothing, one voter who wanted a 50 basis point cut. jay powell says, he seems to take pride that he is more of a consensus builder rather than someone who likes to dictate his own opinion or authority. we need someone who's strong-willed and that everyone understands what they're trying to achieve. >> i think the very last phrase in your question is exactly the right one. sure, it can be a risk to have an autocratic leader who gets things wrong and drags everyone along with him. but if you get a leader who who's out of control, you do
have those other 11 votes on the fomc who can rein them in. but if you have no leader, then you just have a rudderless my whereas ma of no policy. and markets, right or wrong, at least want to have an idea what the policy is. if they think it's wrong, they can disagree, they can protest, they can write off bets, they can do all kinds of things. but if you just don't even know, that's kind of the worst of all worlds. charles: so to that point, wall street still indicating they expect one more rate cut perhaps at the december meeting, and it feels like this fed -- because it's such a rudderless ship -- will ultimately take its cue from wall street. is that okay with you? >> no, it's not okay because -- you picked exactly the right word, they're probably going to cut rates. we should know by now whether they're going to cut rates. the fed funds futures curve is giving that a 60% probability as we speak. markets drive uncertainty. everybody just says it like, oh, my god, we have this terrible
trade war that's creating all this uncertainty. the fed is creating even worse uncentithat every single business transaction has to be built upon. you have got to know what your financing rates are. not everybody deals with china, but everybody deals with credit. this fed has got to get its head screwed on. charles: real quick, the new york fed had to step in and provide cash to the financial system. without getting too wonk key, the notion that a financial system would run out of hard currency is a little frightening to main street. should people be worried? >> no, people should not be worried. anybody who's watched the fed for more than five minutes, you know, can go back over generations and see that this happens all the time. in fact, the reason the central bank was created in 1913 was to step in and deal with these little mini liquidity crises that happen and keep them from becoming financial panics. this is saturday operating procedure, i'm sure you can focus on something else.
charles: speaking of focusing on other news, i've got to is ask you a preliminary china delegation in town, in the united states this week. it e feels like there are more and more goodwill gestures from both sides building up to the principals meeting next month. how are you handicapping that? what's your sense on maybe some series of progress if not a deal before the election? >> it's really hard to know because there are two very powerful, very strong politicians involved, donald trump and xi jinping. and they're both focused on the 2020 election. xi is wondering whether he can wait out trump, and he's got a big bet to make. if he ends up negotiating with joe biden, he's got an easy path. if he ends up negotiating with elizabeth warren, i think he's going to miss trump. trump, on the other hand, has to understand whether he wants a deal going into 2020, he might be better off going into the industrial states that are going to decide this election as the trade warrior and still embattled. charles: don, always a pleasure. thank you very much. >> thank you. charles: still ahead, oil
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every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. ♪ ♪ charles: oil markets stabilizing this week following those devastating attacks on facilities in saudi arabia. the relative calm thanks in part to saudi's efforts to get most of its production back online at the end of the month. but has america's own energy revolution made a difference? we're back with dan, kim and allysia finley. a lot of democrats are talking about really fossil fuels are the enemy, that fracking is not a miracle, and it's done more harm to the world. and you can imagine maybe we'd be in a different place a few years from now. >> about a decade ago democrats were talking about you need to
become more energy independent. well, we finally are thanks to fracking. we, the u.s., produces about 12.4 million barrels a day, that's about twice as much in 2012. and by the way, most of that has occurred on private land. the obama administration really tried to restrict fracking on public land, and this is essentially what democrats want to do is don't -- i would actually bet that they would also try to restrict on private land. and all that 6 million barrels in spare capacity would go away probably within a couple years. charles: we've also done pretty good, kim, with respect to lowering our co2 emissions and the nat gas part of flashing isn't talked about a lot -- of fracking isn't talked about a lot, but the democrats would, i suspect, follow through on campaign promises. >> yeah. we're already seeing attacks growing on natural gas across the country with certain cities and knew missal by -- municipalities saying they're
going to ban the installation of natural gas into new buildings, for instance. so, you know, if you enjoy cooking on a gas stove, say good-bye to that. but this is a remarkable thing to do because it's completely backward. just a couple of years ago democrats were talking correctly about natural gas as a bridge fuel because its emissions are lower than other types of fossil fuels that we use. and the fact that america has fracked so much of it and embraced it as an energy source is why we are really the only country out there that's been reducing its emissions, co2 emissions if this is something that you care about, and we have certainly outpaced europeans despite all of their incredibly complex and costly efforts and programs to lower their co2 emissions. so they're looking a gift horse in the mouth, and this is exactly the opposite beta that you'd want to go to actually do
the things they claim they want to do. charles: germany, certainly, is a great case study on how not to go about this. now, one of the reasons also, dan, that we saw energy prices stabilize this week was it felt like military intervention was off the table for right now. but there are increased sanctions going into place. >> yeah. the administration's announced some sanctions on the iranian national bank and is trying to squeeze with their ability to access funds. and, of course, iran needs funds because they are a primary oil producer. i think one of the most fascinating things about what has happened here in the past week, charles, is actually political. because you had the iranian attack on these saudi oil fields raise the issue that world energy supplies, we all understand now, were very feint on those energy supplies, and meanwhile you've got the democrats over here raising climate to the sort of level of a secular religion. their solution to it is to ban fossil fuels, and i'm beginning to wonder whether they aren't
starting to frighten a lot of voters out there who, obviously, their world depends on electricity. and the idea that like in eight years we're going to be getting it all from solar or wind power and so forth in the wake of the realities of the energy markets people are seeing this week strikes me as a potential political problem for the democrats going forward. charles:allysia, crisscrossing the nation in private jets right now. it's something i've got to do right now. yeah, just like if your kid hurts themself at soccer practice, you want a gasoline-powered car to come get him, ambulance, to take him. we all need to use it right now and perhaps a long time into the future. >> right. maybe eventually cars will become more economic and the battery panel will improve, but we don't know, and it's kind of ridiculous to mandate this on automakers as well as consumers. i mean, this get back to california, consumers should have choices. charles: but here's the thing,
they can't backtrack on this 12-year ticking clock. the clock is ticking. twelve years, if we don't do it between now, it's all over. they all more or less have committed to that timeline. >> i think they've probably provided themself some wiggle room. ten years from now -- i mean, the obama administration didn't say anything. they had very ambitious goals, and they kind of had renewable fuel mandates and basically granted them a waiver. charles: hey, when we come back, a golden state showdown. fresh from some high dollar fundraising in california, president trump takes on democrats there over the homelessness crisis and the power to set their own auto emissions standards. >> nearly half of all the homeless people living in the streets in america happen to live in the state of california. what they are doing to our beautiful california is a disgrace to our country. ♪ ♪ our dad was in the hospital.
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attitude was you people might not all vote for me, but i can certainly take your money. [laughter] that was a treal point of going out there and just sent the message. it did, as you say, core respond as well with i think an important action that the administration said it was taking on this car waiver. folks like me, i'm all about states' rights, but we also have a commerce clause. and is one of the problems with california when the obama administration gave it this waiver, it essentially began imposing its own policy views on the rest of the country country in that detroit, because because california is such a big market, it's forced to throe so much of its -- throw so much of its budget at cars that really only californians buy or want. and the rest of the consumers are left with whatever detroit decides to continue making for them. but, so this is a way that's going to allow detroit to have a lot more innovation, and it's a message to california that, you know, you don't necessarily get to set national standards.
charles: well, there's no doubt it was working to a degree though, james. you know, california was able to bully several automerricks who had just been -- to makers -- automakers who had been complaining bitterly to get to where businesses want to be anyway. so maybe it was working for california in the sense that a lot of automakers blinked. >> well, it's a huge market, and so it's hard to have a manufacturing strategy that doesn't include california, but this effort to force all of us to buy more expensive cars, to boy more electric cars, there's not -- really, as kim said, a legal basis. it comes from a waiver issued by the obama administration, but that was on an authority that was meant to attack smog, not greenhouse gases. so california's going to have a very tough time in court if they want to challenge this trump position. charles: it's not, maybe not the economic impack, but certainly the visual impact of this
homelessness crises in california, san francisco, the wealthiest state in this country, when democrats run on the idea of shared prosperity, income inequality and those kind of things, when you start looking closer, it's the most inequal state of them all. >> i think that's right. partly -- or mainly it's because of its policies. we can start with the environmental regulations, zoning ordinances. the white house put out a paper this year that estimated housing byes basically completely deregulated so the production costs were basically on par with the actual prices. homelessness would decline in san francisco by about 50%. you have some other measures in california, decriminalization of drug offenses and, you know, small dollar theft has resulted in, you know, probably hundreds of thousands of people on the street. charles: so, james, here's the thing, even orange county though went democrat in the midterms.
and so i know president trump, you know, he raises a lot of cash, and i think he rightfully pointed to the fact that, hey, the golden state not necessarily as golden as it used to be, but is there the idea that republicans can make some inroads there? >> i think in the intermediate term putting a spotlight on this model of progressive governance and showing that even in a very wealthy state almost half of the homeless people in the united states are in california. if you look at the worst cities for homelessness in the u.s., they're almost all located on that coast. and so i think this has a value beyond california, but maybe it's the start of a political revolution there where he gets people to say, like he's said to the black community, hey, what have you got to lose? how about trying another direction? we see the problems resulting from the status quo. charles: because, kim, right now it feels like if you're not super wealthy in california or
seattle, then you've entered into a faustian deal which requires a large welfare state thatting just simply keep up. -- that you can just simply keep up. >> well, you just put your finger on something. when you listen to california lawmakers they're constantly worrying about this particular policy or that particular policy that they need to tweak or fix, you know, maybe -- excuse me -- because of our housing policy isn't right. in fact, what it is is it's just too expensive. charles: bottom line. we have the take one more break. when we come back, hits and misses of the week. ♪ ♪ ♪
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debut performance on dancing with the stars. [laughter] >> and for this reason, because it was fun an can we remember that, you know, it was shocking to watch all of the liberals and grumpy people in the media use this as excuse to trash on the trump administration and spicer again, when you know you can't dance and you wear lime green ruffly shirt is because you are trying to have fun. charles: wait till i do a show with that shirt. [laughter] >> he definitely dances better than i do. charles, i want to give a hit to andrew yang, when somebody says something that offends you and trying to get them fire, what about forgiving them and talking to them, it's really a wild new idea in the democratic party and credit to andrew yang. >> this is a hit to four-time
grand slam champion ken who is showing that there are third acts in life, retired twice, last time in 2012, now making another comeback after having 3 children. >> wow, that is very impressive, bill. >> charles, we don't often praise nancy pelosi on the show but i want to change that today, the speaker denounced by china for interfering in chinese affairs by meeting with prodemocracy figures from hong kong, speaker of the house can meet with whoever she wants, considering legislation that has to deal with u.s. trade relations with hong kong. big hits for nancy pelosi. charles: be sure to tweet it at jer at fnc, i'm charles pain, you can catch me on weekend days on making money on fox business network, paul is back next week and we hope to see you then. hen
monday. ♪ many. ♪ >> from our nation's capital, this is the special edition of maria bought romo's -- bartiromo's "wall street." maria: happy weekend. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. thanks for joining us. coming up in just a few moments, blackstone founder chairman and ceo steven schwartzman is our special guest this week. but first, i sat down for a first on fox interview with vice president mike pence and asked him about the economy and the federal reserve's decision wednesday to lower interest rates by a quarter point. watch. >> the american economy's booming everywhere you look. jobs are up, confidence is up. more than s