tv Bulls Bears FOX Business September 26, 2019 5:00pm-6:00pm EDT
about the tesla. don't you need to charge the car? >> it wasn't fully charged. >> right, charge it. >> but that's a lesson; right? connell: i guess. good to see you. thank you for joining us today. bulls & bears starts right now. >> it's a disgrace. it is a terrible thing for our country. they can't do any work. they're frozen, the democrats. they are going to lose the election. they don't want to talk about infrastructure. they don't want to talk about lowering drug prices. they don't want to talk about anything because they're fixated and nancy pelosi has been hijacked by the radical left. david: president trump looking to push on with his agenda despite growing momentum from the left on impeachment. good evening. i'm david asman. thank you for joining us. bulls & bears joining me gary kaltba kaltbaum, zachary carabell.
good to see you. >> you've still got, what, 50, 60 house democratic members who came from republican and trump districts who understand the power of usmca, and in fact, to some extent if they are going to think they are going to go off the ledge, on some crazy idea of impeachment, which is doomed to failure, they might even be more inclined to do something constructive on the u.s. canadian mexican trade deal. david: but nancy pelosi says they will be able to work something out on usmca. listen. >> we're moving ahead on the u.s. mexico canada agreement. we're again hoping to be on a continuing path to that. david: amid the noise, do you think we can see sustained economic growth and pro-growth legislation?
>> i'm not sure that the first requires the second. and thankfully it does not. we've had growth. we continue to have growth. mainly because of the u.s. consumer benefitting from great job market, higher wages and all the rest of the things we have talked about on this panel because nobody else is talking about it. so hurray for the consumer. look, i think it is absolutely essential for democrats to show that they can legislate and govern in addition to harassing president trump. that's not how they view it. they view this as governing. i think a lot of americans will disagree with that. it would behoove them to bring usmca to the table, to the floor for a vote, get it done, because the senate is ready and willing to move it forward and guess what? it really is good for farmers. it's good for americans. it should be done. >> let's be clear, the next 12 months is going to be six plus committees, going after impeachment on the president. i suspect not much is going to get done, very little, maybe a
usmca. they've got a spending bill they need to get passed, but anything of real importance, long-term importance is going to be tabled right now. there is simply one goal, and that is to win an election next november and the democrats think they do it by taking this man down. they may be right. they could be wrong, willing to risk everything for it. >> it is a good political strategy to say the democrats being the party of impeachment and antitrump and getting nothing done legislatively. the reality is no matter how many bills the house passes it's already passed four dozen plus mcconnell and the republican senate don't want to act on them. there is a chance they would act on prescription drug prices because there's a good degree of both republican and democratic support for that. in general these parties and houses of congress now
controlled by different parties are in different places when it comes to legislation. it does help the narrative. it is not an accurate one entirely. the house has been trying to pass some legislation. there's no legislation for the most part that can be passed. >> oversight is part of their responsibility, but passing legislation is, and look, let's look at history. two impeachments essentially in the 20th century, nixon and clinton, and during the clinton era, the markets soared. the nasdaq was up 60% during the nixon era, the market was down. a lot of that has to do with the policies the government had enacted, much more restricted during the nixon era, much freer than the clinton era. they better legislate because what you are seeing is individual investors, wealthy investors, big companies hoard cash because of this indecision. yes, have oversight, but move the business of this country forward so people can make money. david: to your point, jonathan, during the clinton administration, they had a very significant cut in the capital gains tax. they also redid our whole
welfare program in the lead up to the impeachment. you can get things done. >> and banking deregulation, david. david: banking deregulation, absolutely. look at the situation now. you have 50 to 60 democrats. i think 64 is the number who come from red states, who come from districts that went for donald trump. liz, i would just think that they are going to go back to their voters. they're going to have to say look, you paid me 170,000 a year to do something. they are going to have to bring something to the table when they go home to try to get re-elected. >> of course, they are. by the way, impeachment is not popular, not in those districts. david: [inaudible]. >> exactly, this is not something that will win them a lot of favors. yeah, the democrats are passing a lot of bills, even if you are in the majority, you can pass a lot of things that are unpopular with the senate and it is not going to happen. those are showboats. we're talking about legislating for things that good for the
country and might get through the senate and the usmca is definitely on that list. >> the venom has never been like this before. at least back in clinton, the democrats and republicans liked each other, talked to each other. david: wait a minute. there was impeachment going on. you don't impeach somebody that you like. >> i understand that. business is business. family is family. all i'm saying right now you can see the hate and the venom in the eyes of both sides of the aisle right now. that's my worry that because of that, they don't care about the people right now. they care about doing what they are doing, front and center, and the media is carrying the water for it. so again i don't think much is going to get done this year, and by the way, and this is to zach, it takes two to tango when it comes to legislation. i'm sure you know that. >> i think for the prescription drug prices still has a pretty good chance of something happening because it is such -- it cross cuts every par tlty li
and that's something that affects tens of millions of voters. charles grassley has been leading this on the republican side in addition to the usmca. i think you could have something there. for someone like jonathan and the more libertarian republicans, government is doing nothing i would assume an optimal outcome. >> the problem is when it comes to things like trade, government has inserted itself. you have millions of people literally waiting to find out, unable to make any type of business deals because they are waiting to find out the next move. david: gary you said that the usmca is a small thing. i don't think it is a small thing at all, not for the farmers in the midwest or north dakota. they think it is a big thing and might give us leverage to get something done with china. >> we already have good trade with mexico and canada right now. this just adjusts it some, to the better, so i don't think it is the end all be all. for me the end all be all right now on trade will be china to get rid of these darn tariffs
that the taxpayer had to take -- take 28 billion of our tax dollars. david: you are teasing up another segment for us. we will have a lot more on that, plus a businessman who has a personal gripe against the chai naez. -- chinese. we will hear his story coming up. let's get to hillary vaughan on capitol hill. the acting director of national intel, joseph maguire, fascinating time today on congress. this guy is a real hero, a navy seal. tell us what happened. >> david, late breaking, the president this morning is calling the cia officer that blew the whistle on his phone call with the ukrainian president, a spy. the l.a. times this afternoon up with a story and audio from a private event in new york where the president criticized the whistle-blower for going off second hand information. >> basically that person never saw the call, never saw the call, heard something and
decided that he or she -- [inaudible]. i want to know who is the person who gave the whistle-blower information. >> the new york times reports the whistle-blower is a male cia officer who was assigned to the white house, and the top democrat of the house intelligence committee wants to hear from him now. adam schiff saysst the -- says it is time to take the next step and investigate, calling the whistle-blower's complaint a road map. >> we're obviously going to be bringing the whistle-blower in, and the director committed to having the whistle-blower come in as soon as the issues are resolved, but i have no idea that this justice department led by this attorney general will investigate anything, except the president's adversaries. >> democrats drilled the director over delaying the complaint, saying he had a deadline of seven days and he did not deliver, but maguire pushed back saying his job is to pass the complaint on to congress, and they are supposed to decide what they do with it.
>> there is an allegation of a cover up. i'm sure an investigation and before this committee might lead credence or disprove that, but right now all we have is an allegation, an allegation from second hand information from a whistle-blower. i have no knowledge of whether or not that is true and accurate statement. >> house republicans accused the democrats of essentially trotting the out whistle-blower complaint into a public live hearing for their own political advantage, to drum up support for their impeachment hearing proceedings. but the senate, which also talked with the dni director, joe maguire, talked to him behind closed doors. the house chose to do it very publicly. david? david: fascinating stuff. thank you very much. amid all of this, president trump announcing a new timetable for a china trade deal. a manufacturing ceo paul wellborn sat down with the president. he's going to join us next to tell us what they talked about and why he is making a 4 billion
dollars case against beijing. >> they want to make a deal. do you know why they want to make a deal? because they are losing their jobs and because their supply chain is going to hell. and companies are moving out of china. all money managers might seem the same, but some give their clients cookie cutter portfolios. 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 are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. performance comes in lots of flavors. ♪ (dramatic orchestra)
there's the amped-up, over-tuned, feeding-frenzy-of sheet-metal-kind. and then there's performance that just leaves you feeling better as a result. that's the kind lincoln's about. ♪ why accept it frompt an incompyour allergy pills?e else. flonase sensimist. nothing stronger. nothing gentler. nothing lasts longer. flonase sensimist. 24 hour non-drowsy allergy relief
this is a billion years of tiger dna just ready to pounce. and if you have the wrong home insurance coverage, you could be coughing up the cash for this. so get allstate and be better protected from mayhem, like me-ow. >> we picked up trillions of dollars and they have lost trillions of dollars. and they want to make a deal very badly. it could happen. could happen. it could happen sooner than you think. david: sooner than you think, markets still moving more on china matters than they are on impeachment worries. good news on trade makes markets go up. while president saying yesterday that the a china trade deal could happen sooner than you think. there are still many contentious issues holding up a deal. our next guest say has one of them he had a chance to discuss his 4 billion dollars trade case against china with the president, the ceo of wellborn
manufacturing, paul wellborn. great to see you. thank you for coming in, paul. briefly tell us your story and your gripe with china and why you support the president's tough stance. >> to start with, the kitchen business has been attacked or targeted by the chinese, and as you know, when they do their dumping. dumping is a term where they sell. it might cost them $150 to make a cabinet and they will sell it for 50 here. our customers in the past year or two have been targeted also by direct sales from china, and something has to be done. if we don't, we're going to close our plants and lose our jobs. david: you support the president's tough stance on tariffs. >> i certainly do. we are seeing some plus from it, but we also have an antidumping case that will certainly help out. >> mr. wellborn, two things, one there's a degree to which this whole impeachment inquiry probably does make a china deal
more likely. the second thing is competitors often try to undercut. chinese are not the first to do it. the furniture industry which you are a part of was initially very vibrant in the northeast in the united states and then was radically undercut by southern furniture manufacturers, decades upon decades ago. i don't know if what the chinese are doing is anything different than any new entrant into an established industry has done in the past. >> i would say that the difference would be that the government is furnishing the money to the chinese which they probably own anyway and they will do whatever it takes. david: they are getting subsidized by the government for undercutting you? >> with plywood, 80% of the cost of making plywood. the prices are below the the early costs. they can buy logs and lumber from over here, do it there, send it back for $50 when it
would be $150. that's illegal dumping. >> interesting, a lot of that same government subsidy occurred in the 80s by the japanese as well, didn't help that economy long-term. but sir, i want to ask you thank you for being with us by the way. >> thank you. >> these tariffs have not helped the steel industry. there's been layoffs in steel. they haven't helped the farmers. already two bailouts for the farmers. the farmer bailouts have been bigger than the auto bailouts. what makes you think it will help your business which as zachary alluded has been struggling from some inherent and systematic effects perhaps even bigger than competition from china? >> if you look at say the furniture companies, i know john basset and you can read his books and what happened to them, when they were targeted and you saw communities close down, just decimate. we don't need that to happen. many of the cabinet companies in this country are in small cities throughout in many states and
that would hurt the local communities and the total cost of that to the communities, the stores, the banks is not good for those local communities. >> what response, if any, have you gotten from the chinese? have they backed off a little bit or raised their prices? have they responded at all? my impression there are many companies in this lawsuit which is pretty powerful therefore and also presumably getting help from our government. what's been their response? the chinese? >> well, i think that what we're beginning to see little bit, they are backing off some, but i think they are seeing some sales coming in. not a great deal yet. that could happen, but we haven't had any direct response except our customer base is losing a lot of business. they are being undercut by 50% in the last few years. they tell us it's a couple more years and it won't be turned around in the cabinet industry. we just don't need this to
happen. we need something done. there's laws to protect the american jobs and antidumping and we need something done about this and give us a fair level playing field and we will win. we have competed against all the cabinet companies in this country. >> this is gary kaltbaum. i wanted to ask you, it says here you have a 4 billion dollars trade case. who exactly do you file that with? and what are your expectations to come from it? >> the american kitchen cabinet association, it's a group that over 50 manufacturers that filed a case back in march. and we expect duties hopefully to be close what maybe the plywood. if they looked at this carefully, i think they are w k working on it, what they think the duty should be added to the
cabinets. david: we have to go, paul. can you tell me your prediction in terms of whether or not we work out a trade deal that would be accept to believe the country and to -- acceptable to the country and to you in particular? >> i think long-term the trade deal hopefully necessarily wouldn't just cover the cabinet business because i don't know how the trade deal could do that. if it can, that's fine. but we have to level that playing field. i like what our president trump is doing. he's working hard on saving jobs. i believe he cares about people. i really admire that, what he's doing. david: we hope you do well in your case. we appreciate you coming in to talk to us about it. let us know what happens. all right? >> thank you, good to see you. david: the census finding income inequality is at a new high but does it matter if wages are going up as well? we will debate that, coming next. you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k. here, hello! starts with -hi!mple... how can i help?
a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today.
>> new data from the census showing income inequality is at its highest level in 50 years, but should we care? should we care about income inequality if blue-collar jobs and wages are going up as well. gary? >> i think we definitely care and one of the reasons it sells. look who is leading in the polls now elizabeth warren telling those people don't make like the wealthy that they are where they are because the wealthy are where they are. the other part of my equation that's not talked about enough is our wonderful central banks. our central bank that kept rates too low for too long, bubbling up every asset out there, including real estate and art and everything like that. if you want income inequality to go the wrong way, look no further than that lovely central bank and something should be looked at on this. >> so we can interject our favorite issues here. mine is education. if you want to suppress income
inequality or begin to address it, give people at the low end of the income spectrum the tools they need to advance themselves. that's something that's lacking in the democratic play book. nobody talks about making our schools better. it is astonishing to me. the answer is in this year, and going back a year and a half, this gap in terms of earned income is narrowing. that's what these figures do not reveal. what these figures include is things like as gary pointed out increases in earnings from stocks and assets of all kinds, which have been inflated, but the truth is, earned income, the gap is narrowing. so a jobs market that's this healthy is making some gains on this. >> so if we're going to say what's going on in the country, mine is that income ine equality concerns and anxieties are a proxy for insecurity. it is not about who has more, it is about whether or not what sufficient sufficient and sustainable. so to the degree that we can figure out this 30 year battle
over healthcare in a way that doesn't constantly confuse, perplex, and make people feel like at any moment costs could go up or care could decline, whether it's education, access to it at an affordable price. that leads you to the direction of a social safety net that is -- david: but jonathan, why should i care how much billionaires are making if my income is still going up? >> income inequality is a nonissue. this is a nothing -- the only inequality that matters. the only equality that matters is equality in front of the law. to your point, david, the gap between the so called haves and the have-nots is irrelevant if you live in a free society. what happens is that the haves produce and lift all of us up. that's why the poor in america are richer than most europeans if you can believe that. that's because the wealth in america or even the so called poor are rich in our world.
>> in chicago economics school it is irrelevant, but in terms of polls and voting it isn't irrelevant to people because they don't feel the security that they are able to meet their basic needs >> because they have been taught by elizabeth warren and professionals in some of the publications that income inequality -- what matters is people's quality of living and their standard in life. in america with our so called income ib inequality, the average of a so called poor here is rich in other countries. >> we have small number people at the top very very well off. look at bernie sanders. i don't think there's anything wrong with it. somebody has to make the case that -- i thought you were going to say jonathan as long as everyone has opportunity, then you shouldn't be worried about it. that's my view is if everyone has opportunity, then it is up
to everyone, in a free society, to make the most of that opportunity. but to zach's point, that doesn't satisfy people who are discontented. >> listen, the problem is -- david: quickly, gary. >> -- people like bernie sanders, elizabeth warren to be polling like they are, something has to be addressed. david: polls are polls. we have an election coming. economic policy based on envy doesn't work. is political correctness on campus leading to the demise of academic freedom? senator grassley says it is reaching a breaking point. in a new "wall street journal" op-ed we will be asking campus reforms. you want to stay around for that. good stuff. that's next. orlando isn't just the theme park capital of the world, it also has the highest growth in manufacturing jobs in the us. it's a competition for the talent. employees need more than just a paycheck. you definitely want to take advantage of all the benefits you can get.
2/3 of employees said that the workplace is an important source for personal savings and protection solutions. the workplace should be a source of financial security. keeping your people happy is what keeps your people. that's financial wellness. put your employees on a path to financial wellness with prudential.
they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier.
"have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro.
david: senator chuck grassley calling out campus censorship writing in the "wall street journal" today quote universities have long been centers of political correctness but campus administrations increasingly seem to be indulging students when faced with uncomfortable ideas complain of feeling harmed or unsafe. this is reaching its breaking point and making it hard for professors to teach. end quote. the senator says he wants answers from some of the nation's top universities about incidents that have taken place on their campuses that concern everybody about the state of academic freedom. joining us now cabot phillips,
from campus reform. do you see instances where pc culture is impacting students' college education? that's kind of a rhetorical question. go for it >> yeah, there are numerouses instances. -- numerous instances, that's why we have our website. we see plenty of times not only professors. the standard on campus has now become whatever you say hurts my feelings you shouldn't be allowed to speak. sadly so many school administrators indulge these students and outraged moms and it keeps the next generation that your feelings supersede other people's freedoms. in the long run when you take ideas off campus that make people uncomfortable you actually hinder people's growth. the people you are trying to help, you end up hurting because they never have the opportunity to process ideas to make them uncomfortable to grow intellectually and learn how to debate. that's what college is about.
so many people are walking on tiptoes and egg shells because they are afraid to buck the trend. it is a liberal ideology that's welcomed on campus. things that go against that are the things that are pushed back on the most. >> i don't want to be hyperbolic. i think the real danger to this country is not iran, it is not china. it is harvard and yale, it is the universities. cabot, as you said that's the battleground of ideas. that's where the next politicians or politician insiders that's where they are being trained. as you said, the colleges are cesspools of collectivism, cesspools of socialism. doesn't the fact that government dominates education, its funding, its administration, isn't that a root cause of why colleges are so liberal, so left and ultimately so against capitalism? >> i think that's one big reason for it. and for so long, it's increased steadily because we haven't seen any accountability. thankfully we saw this year president trump issuing an executive order on free speech. we have seen sensors like grassley and senator cruz speak
out about this. i think it is going to take accountability to change this problem. and there are tangible expressions of the expression of free speech. i think it is important for americans to understand what it looks like. the things i see are one the free speech zones where students are kind of sequestered off in these secluded areas on campus and say you can express ideas here. we have seen it in suppression of speakers. david: just to push back a little bit. i think zach is going to disagree that north korea is not as dangerous as college campuses. hold on, jonathan. >> having taught at harvard but also having taught at university of massachusetts, boston, commuter school, liberalism is the ability to speak your mind and to have open debates, to use this suppression of free speech on campus as a liberal thing or
a left thing is absolutely not true. david: oh, please. >> come on -- it is true on some colleges. >> you jumped on jonathan for using theoretical guide post. the reality is every campus in america is liberal. that's a reality. [talking over each other] >> modern leftism. look you don't have such things as conservative outrage mobs. i have been on campus and walked around with hundred dollar and told students if you can give me an example of students shutting down liberal professors, i will give you $100. it is coming from the political left. a big difference between classical liberalism which embraces free speech. >> i just had both my kids in college over the last few years. i have two of my closest friends who have kids in college right now.
and you're 100% correct. people are walking around on egg shells on what they can say, how they can say it and where they can say it. so my specific question to you cabot, what are you going to do change? >> what are you doing? >> what specifically can anybody do to change it? i know you want to change it. david: hard question. >> i think one thing you can do first off is letting market forces take impact. don't send your kid to a college if you look up what they stand for and they are not doing enough to protect ideological diversity on campus. legislation can play a role in this. schools aren't getting funding if they aren't doing enough to protect fundamental elements like the 1st amendment. if there were liberal ideas that were being suppressed on campus, you would have democratic congressmen and senators speaking up. there's a reason it is only republican members of congress in the senate that are speaking up about this problem. >> the idea you can debate racism and race and gender, those are things that a lot of
campuses are trying to preclude discussion about. a liberal approach would say you have to have an open dialogue. david: point to one instance where a liberal or socialist was shut down by a conservative group. on campus. i can't think of one. but i'm sure cabot can give us dozens of examples of the other way around; right? >> yes. i'm agreeing that there is a far left or whatever you want to call it. i'm just saying that's not the liberal attitude of most universities. >> try wearing a maga hat on any one of these university campuses right now and see what happens. david: all right. we have to leave it at that. >> someone was hospitalized for doing just that, wearing a maga hat on campus. david: it can be dangerous. cabot, thank you for coming in. appreciate it. the latest ipo unicorn to fall flat at its debut. at fidelity, we believe your money
should always be working harder. that's why your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain
abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid. you may have gingivitis. when you brush, and the clock could be ticking towards bad breath, receding gums, and possibly... tooth loss. help turn back the clock on gingivitis with parodontax. leave bleeding gums behind. parodontax.
david: the maker of high end exercise bikes and treadmills ending down, 11% on its first day of trading. ceo telling fox business it could be a while before the company is profitable. listen. >> don't you think your investors now that you are a public company might demand profits? >> eventually of course, yes. i mean, i think we're showing in 2023, so we're going to get there. david: four years from profitability, is this a company that people should invest in? >> 2023? hey, thanks. [laughter] >> look, the company is growing leaps and bounds sales. they lost 240 million bucks this year. they sell products that are 10 and 20 times what a normal product is, and most importantly, the market over the last year has said enough,
enough of just shoving down our throats companies no matter what they sell that lose a ton of money, at ridiculous valuations. it happened with uber. it happened with lyft. and i put out a report last week. there's a couple of hundred names in the last two years that are under water because they all lose money. give me a company that produces a product for a buck and makes a dime on it, i will be a happy guy. >> to this point, what we saw with the peloton ipo, what we saw with we work going from 47 billion dollars valuation under 10 should give anyone who thinks this market is some sort of 1999 in terms of frothiness real pause because if those companies had gone public 20 years ago they would have been up five x on day one on the promise of potential transformative growth at some point sometime somewhere. the fact these companies are not getting a warm welcome and peloton priced -- its opening
price was well below what they went to the market with initially should be a sign of public markets saying hey we're not going to reward these companies with these valuations. >> amazon opened the door for investors getting behind a company that lost money for a long time. >> david: you actually use the product. >> i do use peloton. there's an issue i think with this company that no one talks about. if you actually go in to buy the shoes, for example, what you need to use the bike, in most instances, you can't buy them. no inventory, they are trying to keep their costs low. they send them to you. you have to go back to put the cleats on. for millennials that want instant gratification, this is not it. i think it is a terrific product. i think it's several years ahead of its growth. they need to start making money. >> ipo is a great forward
indicator. i think it is the canary in the coal mine. endeavor is going public tomorrow cut their deal size and cut the offering price already. i'm brought back to january and february of 2000. that's when a lot of those ipos started coming public and flopping. smile direct, lyft, uber, these are ipos that were high-profile that are now underneath their ipo prices and this is a canary in a coal mine -- >> jonathan, as we were on, endeavor just pulled its ipo. david: interesting, wow. okay, maybe it is the canary in the coal mine. before we head to break, let's see what's coming up on evening ed date -- edit with elizabeth mcdonald. >> great to see you. we're talking about how wall street is ballparking all sorts of scenarios, will biden drop more in the polls? will elizabeth warren be
president? what would happen in the market in that scenario? we're talking about that. we're talking about a heightened state of readiness in saudi arabia. we'res a -- we are also talking about warren wants to take over a part of the economy that powers consumer confidence and growth. you won't believe what she wants to do now. that comes up in 6:00 hour. david: that sounds great. i would be honest i would watch you talk for an hour just for the pleasure of that. good to see you, liz. we will be watching. >> thank you. david: alexandria ocasio cortez rolling out a sweeping legislative package aimed at combatting poverty in america in her new proposal. it's called a just society. what her plan is calling for. wait till you hear this, coming up. for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target.
blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. it's used by some of the biggest retailers everywhere. a nice wedge. so more food ends up on your table, is that daddy's lettuce? yeah. and less food goes to waste. ♪ ♪ ever since you brought me home, that day. i've been plotting to destroy you. sizing you up... calculating your every move. you think this is love? this is a billion years of tiger dna just ready to pounce. and if you have the wrong home insurance coverage, you could be coughing up the cash for this. so get allstate and be better protected from mayhem, like me-ow.
so gthat could allow hackersr devices into your home.ys, and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's protected. call, click, or visit a store today.
david: new york congresswoman ocasio cortez rolling out a new six bills proposal plan. it is called a just society. aiming to reshape america's economy. one of those bills would give undocumented immigrants access to medicaid, regardless of their immigration status. another would cap monthly rental increases at 3% and forbid landlords from evicting people unless they haven't paid rent for a couple of consecutive months. now ocasio cortez calls economic inequality and climate change, quote, the greatest threat to our country and democracy and our planet, end quote. so will aoc's six bills make their way into the democrat platform? what do you think, liz? >> we have seen with the green new deal that she and the squad have an ability to shame other democrats into adopting some of these things, and by the way, some democrats already are on board. we saw all of those candidates on the debate stage raise their hands when it was asked whether illegal immigrants could get
federal aid. so this is not all brand new. some of it is pretty whacky, like guaranteeing that everyone's going to have wonderful robust health and mental health. i don't know how she's going to do that. i think it's terrific. i guess she puts the whole country on a diet. i mean there are a lot of things that are just sort of standard issue left wing stuff, like rent controls which just simply don't work. but, you know, i think -- my read of this is she's been sort of out of the headlines for a while and she wants back in. this is her way of sort of promoting her brand now that her chief of staff left who was sort of writing her script for a while and so forth. this is her new big thing. we will see whether they bite. >> it's her attempt to take the moral high ground; right? she said this is a just set. >> yeah. >> if she wanted a just society, that would be a society that's free of coercive force. that's a capitalist society. in a capitalist society, that's the ultimate poverty fighter. think back to 1990, 40% of the world was in extreme poverty.
in countries like china, southeast asia, make minute moves towards freeing up their economies today less than 10% of the global economy is considered extremely poor. that's because of capitalists. aoc same old stuff, rent controls, weal fare, minimum wage -- welfare, minimum wage, that hurts exactly the constituents that she proposes to help. >> i'm not going to defend these ideas per se, which is if these we are enacted if you could only evict someone after they weren't paying their rent for two months, if a lot of this stuff got passed at a federal level, it would be dramatically worse for a lot of the northeastern cities that aoc represents, which to me is deeply odd in these proposals. >> i just want to know where in this bill, what is she going to give to the 50,000 people who didn't get jobs with amazon in long island city because of her
and a couple other people? what about those people that she screwed by amazon not going there? look, we've discussed this a thousand times. this might as well be called government give away. that's all it is government give give give. i've got news for you, government only lives because of what the people give the government, our taxes, and they continue to abuse us, and they continue to try and grow and run things. that's what put head winds in front of the economy. marxist/socialist need to be unelected and out. we need to get people who understand what economies work off of. david: the problem she is to a certain extent the wind in the sails of the democrat party right now. they may pare it back a bit what she says, but she gives them sort of the marching orders. >> no question. what's astounding to me is you have senior democrat senators running for office who jump on
any bandwagon she trots out. i'm sure they will bite on some of this stuff. we were talking during the break, warren i think lub the candidate -- warren i think will be the candidate, how does she walk this stuff back? i don't think most americans are on board with what she's saying. >> it will be a long walk back. david: should police really be driving electric cars? wait till you hear about this. ? nationwide's teamed up with amazon to bring you the all-new echo auto. you're gonna love this. alexa, add "xylophone" to band shopping list. (alexa) okay. we don't need a band shopping list. ... join nationwide now and get a free amazon echo auto.
david: the weakness of green power, police in freemont, california have a few tesla patrol cars as part of a pilot program to help reduce greenhouse gasses, but while one of those teslas was in the middle of a police chase, the officer sent out a mayday to nearby squad cars "just slow down to six miles of battery on my tesla, so i may have to lose it here." now other officers took over the chase, but they lost the perp,
so is this a warning about going all green, gang? >> you know, dave the president has joked in the past about what if you're watching tv and it's powered by windmill and the wind goes down the tv goes out it's a joke but this is actually it happened and it happened in a place of public security. look, technology is good if it helps man, not the environment, but mankind, and maybe at least at this point given the technology is still so limited in kind of mission critical situations, you have a real engine, and not a plug-in like a tesla when it comes to catching crooks. >> it's a funny story but there is a fact that electric cars has absolute unbelievable of course up and torque because they don't have the mechanics to get in the way of the 0-60 so if you had a much more effective as they were charging these cars correctly, they go a lot faster and are a lot more efficient at getting to high speeds and doing a chase. david: they sneak up on you
without you hearing them. they are good chase cars. >> i think probably this is a pretty amusing story and it doesn't tell us a great deal about whether electric cars are the future or not but going back to the have, in places where wind power has been very promoted and has become a bigger part of the power grid, it does happen that the wind doesn't blow and they do have power outages, so that's a separate issue. it is real. >> tesla is amazingly fast, i agree with zach and how about the police officers just checking on the electric before he gets in the car, just like i do my gas. logic. david: but we were just talking about aoc and the green new deal she wants to go completely fossil fuel free in 12 years. okay, about the police cars i get it but what about planes? i don't know of many planes that operate on battery power do you? >> not yet. >> and david this goes back to the obama administration. there is an active effort to
subsidize what in many applications is just low quality technology. the chevy volt we talked about that literally for years. >> and for it on consumers. david: good to see you that does it for bulls & bears thank you so much for watching we'll see you next time. liz: the markets taking impeachment in stride again today, as president trump wore this that "markets would crash if democrats impeach him." wall street pros now ballparking multiple scenarios jpmorgan warns we are on now ground what the top wall street pros say tonight and we have a heightened state of readiness for saudi arabia, the pentagon sending a patriot missile defense system, four radar units and 200 personnel to saudi arabia, to defend it against potential attacks. also the pentagon put three more units on "prepare to deploy orders" that story tonight to d.c. chaos growing,