tv After the Bell FOX Business October 14, 2019 4:00pm-5:01pm EDT
demonstrates that uncertainty for businesses continues. we're advising clients stay balanced. [closing bell rings] that you're focused on quality companies. liz: anthony. please come back. that will do it for "the claman countdown." market slightly in the red today lauren: wall street fighting for. chinese officials say they want to talk more about the tentative trade agreement between the orlando's two biggest economies. look at dow, down 30 points. off session lows we should point out. broader market, s&p 500 and nasdaq also kicking off the new week in the red. i'm lauren simonetti in for melissa francis. connell: good afternoon, lauren. i'm connell mcshane. more on the big market movers. here is what is new at this hour
facebook fighting heating up. the latest on the brexit october 31st deadline. the latest on the state of play. president xi's warning for protesters. lauren: kristina partsinevelos on floor of the new york stock exchange. grady trimble on the ground at bolling brook, illinois. blake, what is the latest on the white house? reporter: big news on turkey. news coming out of the white house. that will be the story to end the day at the white house. it began with headlines involving china and treasury secretary steve mnuchin making it very apparent earlier this morning that top u.s. and chinese negotiators would still be communicating for the next several weeks here. as they still need to get phase
one of this trade deal, quote, unquote papered as president trump put it in the oval office on friday. i asked the treasury secretary this morning what exactly it might look like, what the road map might look like between now and the apec conference in chile, in middle of next month. this was his response. watch. >> the current plan there will be deputy level calls this week. prince call level calls next week ambassador lighthizer and vice premier. those things are planned. i wouldn't be surprised if there is deputy level meet national person. i think our expectation we'll meet with the vice premier in chile before the president's meet to make sure there are any final issues. if we need to have in person meetings, more in person meetings to get this done, obviously we'll do that. reporter: to turkey now, president trump has been threatening the economic ruin of that country, based off what has been happening in northern syria. as you know the president had made the decision last week after a phone call with the
turkish president erdogan to remove the remaining u.s. troops in northern syria, which has led to the turkish assault in that area against the kurds which are allies of the u.s., just like nato is, turkey is a nato member, an ally of the u.s. the president said he is going forward with sanctions saying he will soon issue an executive order that would levy sanctions against those who do business against, or those within the government of turkey. that steel tariffs will be increased back up to 50% where they were before the reduced in may. the president also saying that a trade deal with turkey will be put on hold. 100 billion-dollar trade deal because of actions, the president specifically calls out here, the turkish president erdogan. there has been effort on going up on capitol hill as it receipts to potential sanctions. clearly the president making his move saying that sanctions are coming turkey's way.
back to you. connell: blake, thank you. to the market panel. adam lashinsky, fortune editor and fox business contributor. breaking news on turkey will be addressed in some detail later on in the hour, adding to what blake just said, michael. for markets, china remains the story. is your base case after kind of going through everything we know or asking questions about what we don't know that those december 15th tariffs will not go into place? do you think they're still some likelihood they might? >> i think they're still very much on the table. i don't see the president backing off unless there is substantial movement forward in the negotiations. however, i'm pretty positive, even with the headlines that the deal from friday wasn't finalized. it was pretty ugly earlier, pretty ugly opening when i woke up, we recovered almost flat. the market think this is is good first step. connell: first step, likely
adam, oversold, phase one of a deal. others talk about the chinese side. progress towards a deal, which is still positive i should point out. what did you make of all of it? >> you know, to call this a positive is certainly full approach. why not? it beats the alternative. i think it is about the same as a, not much has happened. the president created a problem in a way he probably shouldn't have. it was undiplomatic way to go about this and trying to work his way out of it. in a essence we're sitting about talking nothing ever happened. doesn't mean something never happened but that might be a good thing. but nothing happened. connell: lauren. lauren: earnings kicks off this week. goes off with a bang with kristina partsinevelos on the floor of the new york stock exchange. >> traders wondering how they will do and make money. especially earnings week starts now. we're 2% away from the highs. are we cheering, clapping, any
type of moderate or slight beat when earnings come out. what we're seeing for this week. we have a few big consumer names. we have johnson & johnson. their earnings are expected q3, expecting decline. they're facing a lot of litigation. earnings per share at 2.01. netflix is expected to put out earnings as well. what we're seeing for netflix. morgan stanley lowered targets. a big concern about subscriber growth. you're seeing on the screen, "stranger things" one analyst note said that show could bring subscribers back to the platform but it is facing a lot of competition. american express as well. often see as barometer of the u.s. economy. switching gears, big week for bank earnings. four largest u.s. banks, before the bell, goldman, jpmorgan chase, citigroup, wells fargo. pnc out on wednesday all in the green right now. however lower interest rate we saw with the fed cutting, have put pressure on a lot of banks
main business. deposit as well. that could be weighing, looking into that parsing details. according to fact sheet, we are expecting, these are investors, basing off the survey, they expect earnings to drop 2.6% this quarter. lauren: we've seen surprises to the upside, kristina. maybe that will happen again. thank you very much. battle escalating between elizabeth warren and mark zuckerberg. running an ad on facebook, that falsely claims the facebook ceo endorsed president trump for re-election. an intentional law to draw attention to facebook's to exempt fact-checking policy for advertisements. adam is back with us. why doesn't facebook ban political advertisements on its site? it is not a big revenue. >> it can't dieddecide what it
is like we are or broadcaster like my magazine or complicated internet company sits between free speech and money making. it is serious money, even not a large part of their revenue and they want it but they can't decide who they are. lauren: elizabeth warren, mike, is saying that facebook continues to put profits ahead of making the right decisions and what is best interest of the public. that seems to be part of her campaign as she runs for presidency. do you think she is right here? >> i think regulation is coming for facebook. elizabeth warren had basically argued for greater government role in almost every aspect of our lives. but the breaking up of facebook and aggressiveness she has taken towards facebook caught mark zuckerberg on a hot mic somewhere saying he will do everything he can to stop that because she is threatening his livelihood. the fight is on. we'll see where it goes from here. lauren: adam, michael, thank you very much. >> you bet.
>> representatives for general motors and the united auto workers returning to the table. the strike hitting week five. igrady trimble out is out in bolling brook, illinois. grady. reporter: hard to see what progress has been made since uaw's recent offer, we talked through the night in weekend days and met at the bargaining table today. still no deal though. over the weekend the union was upping strike pay from $250, to $275. maybe a morale booster. it is $1000 less than hourly wages workers are used to making. analysts say workers have already foregone $624 million in wages if you calculate all 49,000 workers on strike. when you look at general motors, they have lost $1 billion in
profits according to analysts. two issues that have been key sticking points throughout these contract talks have been wages and temporary workers. on the wages side, want to use this graphic to illustrate that. general motors in recent report, according to moody's pays its workers $63 per worker for hourly wages and benefits. when you compare that to foreign automakers with workers in the states, they're only paying 50-dollars per worker. on the temporary worker front. foreign automakers who have plants in the state they have a lot more temporary workers. 20% to 6% for general motors. from general motors perspective important to keep the costs down. not try to increase the number of, costs per worker i should say. i also want to point out temporary workers element is important for the union as well. they want to create a clear path for workers so they become permanent, full-time workers a lot quicker than they have been
able to in the past. contract talks still dragging on today. connell? connell: the beat goes on. grady trimble, thank you, sir. lauren: 2020 infighting. bernie sanders drawing the line between himself and elizabeth warren, why he is calling his progressive rival a capitalist to her bones. i guess that is an insult. connell: joe biden's son hunter biden stepping down from the board of a private equity firm. what will this mean for his father's campaign. lauren: the escalating vaping crisis, why the fda is concerned about a warning it received a decade ago. the fallout after this. ♪ edward jones. it's time for investing to feel individual.
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♪. connell: so as it turns out capitalist is apparently the new insult on the campaign trail. listen. >> elizabeth considers herself, if i got the quote directly to be a capitalist to her bones. i don't. the reason i'm not i will not tolerate the for one second the greed, corruption, income, wealth, inequality, so much suffering that is going on in this country today which is unnecessary. connell: okay. dan heninger from the
"wall street journal," a and a well-known capitalist. >> guilty as charged. connell: sounds like we're joking around do you think that resonates with today's democratic primary electorate, to say you're a capitalist? that is insult. >> that is the question. on one hand bernie is trying to break elizabeth warren's rise. she has a lot of momentum. there are two distinct political calculations going on here. bernie sanders clearly believes the democratic party is increasingly self-identifying as socialist. he undoubtedly thinks this is the path to wins in the democratic primaries early next year. elizabeth warren on the other hand has these plans more or less socialize the american economy. she doesn't believe it is possible to identify as a capitalist and win in the general election. connell: as a socialist. >> as a socialist. connell: she plays both sides of
the coin fairly well. if you look at her policies, they're way out to the left. you're a socialist. she says i'm a capitalist to my bones. which ones are people more likely to believe? could she actually track to the center like a traditional nominee does? that seems so farfetched. >> i think it will be very difficult for her to track to the center. she is pretty adept politician. she has the better side of this argument. certainly you have to declare yourself a capitalist to win in the general election. a socialist cannot win. i think she is probably right about the primaries. there will be a wink, wink, nod, nod about elizabeth warren's policies. they know she is socializing the economy. i don't think they will force her to identify as a socialist. connell: i want on that note talk a little bit about policy here. we talked about this before. the wealth tax gets a lot of attention. billionaires as it turns out could face tax rates up to 97.5%
if bernie sanders were to be elected president. these numbers came from a couple of professors out at berkeley and the funny part about that is, i guess there are a number of funny parts potentially, that compares to elizabeth warren and her rate is also pretty high, 62% as effective tax rate for billionaires. right now it is 23%. if the berkeley professors have their numbers right, to bernie's point, she is capitalist, sort of. >> what does it make bernie sanders? if those numbers are right, 97.5%, he is barely a socialist. he is on his way to becoming communist. like the old soviet union. what is next? exile in northern maine for billionaires? what is interesting you have got bernie and elizabeth talking about the wealth tax. this might come up in the debate tomorrow night when they start asking other candidates if they would start supporting a wealth tax.
as it was with the green new deal and "medicare for all," those candidates seem to be easily intimidated by this kind of idea and i wouldn't be surprised if you increasingly saw other democratic candidates signing on to a wealth tax for better or worse. i don't see political upside with that. connell: could be one of those raise your hands questions. you don't see political upside in the wealth tax. it may be a horrible idea in terms of any economists that you speak to, but there aren't that many billionaires out there. so from a political point of view, politicians always, they say we'll tax billionaires. that is different than say tax so-called wealthy or rich. would put a number, 200,000, whatever it may be. people say that is not rich. say it about billionaires, you could have something politically popular makes it more dangerous, right? >> if anyone believes it will be just billionaires, they come down from that. keep that in mind. people supporting warren, they
had 90% of marginal tax rates in the 1950s, and 1960s. a lot of us follow those issues, there was something known as gucci gulch, tax lawyers found loopholes and carveouts for people paying those tax rates. nobody will pay 97% tax rates. tax lawyers and congress will give them ways to have loopholes to reduce the rates. connell: we're looking for ways to eliminate loopholes. this is way to bring them back. >> tax avoidance returns. connell: dan, good to see you as always. dan henninger. lauren: president trump taking action against turkey. how the white house responds to the invasion of northern syria. steve harrigan reporting on ground. the queen speaks. what it means for the upcoming brexit deadline. ♪.
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connell: a "fox business alert." president trump announcing new economic sanctions against turkey, along with increased tariffs following invasion of syria. the commander-in-chief saying u.s. troops coming out of syria will redeploy and remain in the region to continue to disrupt remnants of isis. all that information just in as we go to fox news correspondent steve harrigan reporting from northeastern syria. he has the latest on the ground. reporter: what began as a military operation what turkey called terrorists has evolved something perhaps bigger and much more dangerous. a war between turkey, a nato member and syria a country backed by russia. kurdish officials wasted little time finding a new partner after withdrawal of u.s. forces what they described as a stab in the back. assad troops reached the front
lines within an hour of the deal. a welcome sign to those on the ground. >> translator: thank god for the return of the syrian arab army. reporter: the fight something brutal. arab militia backed by turkey have been accused of atrocities, executing prisoners on the battlefield and pulling a leader from her car and putting a bullet in her head. dozens of civilians on both sides of the border have been killed by mortar shells exploding into homes. there is a rage here among civilians that no one is doing anything to save them. [shouting] >> translator: where are the united nations? let them come to see the blood of our children on the floor. why don't they show up? our children are gone. our girls are gone and our strength is gone. reporter: several world leaders warned that the conflict would lead to resurgence of the islamic state in the region.
the kurds have been in charge of prisons housing isis combatants and family members in syria. over the past three days, at least two mass escapes have been attempted at facilities. civilians are looking for an escape from fighting coming to their doorstep. more than 130,000 people are on the move trying to get away from the fighting any way they can. that number has gone up each day. back to you. connell: steve harrigan reporting from syria. lauren. lauren: let's discuss. chris harmer, retired navy commander. thanks for joining us. >> pleasure to be with you. lauren: moments ago the president said he would issue an executive order with sanctions on turkey, a nato member, raising steel tariffs to 50%. putting 100 billion-dollar trade deal on hold and some troops remain in the region. chris, does that do anything to change the situation that has gotten so bad in such a fast time on the ground? >> as a practical matter won't
have any impact at all. i grew up out west, at risk of using a western euphemism system, this is like closing the barn door after the horses have gone out. kurds have switched allegiance to proxy of the united states to allying with bashar al-assad. isis prisoners will be released or break out. this is a tragedy across the board. it was such a preventable tragedy, both humanitarian tragedy and national security tragedy for us. there is no way to put shine on this. lauren: can you quantify how severe isis rising could be now? and also, the rise of russia in the region? >> it's a good question. i wish i had discrete numbers. most of our analysts. most of the estimates put the kurdish prisoners they were holding, isis prisoners around 10,000. my impression that is a bit on the high side. we're closer to 6 to 8,000 isis fighters held by kurds. virtually all the isis fighters will be released one way or the
other. the kurds don't have manpower to simultaneously guard isis prisoners and turn against the turkish invasion. they have to make a decision between guarding prisoners or protecting women and children. they will protect the civilian population. i would do that same thing. at a minimum several thousand isis fighters will be released or escaped, call it what you want, distinction without a difference. they will be back in the battlefield shortly. that is completely fault of our policy change. lauren: what about europe? they helped protect safe zones in northern syria. as for europe as refugees flee this is another refugee crisis for the continent. >> continental europe will do what it has been doing for last 70 years, united states primarily and united kingdom secondarily for help. i'm not a europe basher, plenty of allies do the best they can but by and large europe is
following lead of the united states within the context of nato. they don't have much of a choice. they have a serious problem they're completely unprepared for. they're looking to the united states for leadership. instead they're getting abdication. i think european union, rather than nato will take the lead on crafting european domestic policy and response to this but i don't know what they can really do. unless they know exactly which countries isis fighters came from and get their hands on them quickly and repatriate them to their home country for resecuring in prisons i don't see the possibility they will leap back on their own surreptitiously and wait for isis to conduct attacks back in europe. lauren: chris, would the u.s. be part of that eu negotiations or can we not be trusted as reliable ally these days. >> great question. they were not notified. by all accounts this was unilateral decision by president
trump. since we did not discuss this, negotiate this, give european allies a head as up, my guess they go it alone on crafting a response. they will give us a head's up, them making a decision, informing us what they are doing. lauren: 10 seconds, do you think the one-on-one diplomacy by president trump helps him 2020 with voters. >> i'm not a analyst. strategically it is a disaster. lauren: chris harmer, thank you for your time. connell: very fast fast moving situation to your point in turkey. revealing new insights of rise of e-cigarettes and how the fda allowed growth of that may be leading a whole new addiction for a generation. lauren: hunter biden making a new promise, if his father wins the presidency in 2020. connell: popular videogame "fortnite" is down. not for the reasons you might
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lauren: any attempt to split china will quote, end in crushed bodies and bones. that according to chinese state media after hong kong's government protesters. 19th consecutive weekend. no signs of slowing down. connell: none at all. taking a step back. hunter biden announces he will step down at his role at china backed private equity fund. he won't take any foreign work if his father ends up being elected as president. as for his dad joe biden, holding 10 point lead over massachusetts senator elizabeth warren in latest fox poll. peter doocy on the ground at columbus, ohio, which happens to be the site of tomorrow's democratic debate. >> connell even though joe biden says his son never had conflict interests with foreign dealings, his son decided to step down on his position on the board, from the private equity firm backed by the communist chinese
government. >> the statement my son put out today, i saw was one being put out. i did not consult him. that is man of integrity he is. what in fact he has done, why he stepped down. >> so the bidens maintain they're not working together here. working on his campaign on his own. hunter biden insisting he will steer clear of foreign business deals if his dad gets elected president. he will have to challenge the former vp about any of this, but, it doesn't sound like everybody in the top tier is interested. >> well, look, we may be competing for the presidency, but what is going on in the white house and the way that they have put america's interests second in order to involve a foreign power, trying
to tar the family of an american public servant like the former vice president? i think it's a reminder what is really at stake in this election. >> late last night, biden team did something else to demonstrate all the ways that they are above unethical behavior by government officials. they released a plan that would guarranty and require ethical behavior by government officials and biden administration. connell: there you go. can i ask just one thing, peter? interesting you're playing a sound bite from pete buttigieg. logically this is a chance, a political opportunity tomorrow night for some of these candidate to go after joe biden who had been up until recently the presumed front-runner but to your point doesn't seem like they will. talking to people close to the campaigns, what is the calculation here politically? reporter: it does not sound like anybody is previewing an attack. i talked to kamala harris in
iowa couple days ago. she was saying all this talk about joe biden and ukraine and his son is a trap set by president trump so it does president trump more favors to ding biden about this. also remember the last democrat to directly challenge biden in front of a national audience was joaquin castro, sorry, julian castro when he made a suggestion his aides may have -- age may have factored into something he said. that did not go well for castro. he is in the low single digits and biden hasn't really moved at all. connell: that is interesting. you have to know when to go with it, versus letting it happen on its own. good reporting. piecer doocy in columbus. lauren: to brexit or not to brexit. queen elizabeth weighing in to parliament. we break down the odds of the uk leaving by halloween. college admissions scam getting lifetime movie treatment. but it is missing a couple of
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credit to $100 for power customers who lost power and $150 for business. the company shut down for hours, as they were trying to prevent wildfires. now this. >> my government intends to work towards a new partnership with the european union, based on free trade and friendly cooperation. lauren: queen of england taking words out of prime minister's boris johnson's mouth, delivering a address to parliament, outlining his plan to get brexit done by october 31st. that is 17 days away. fox news's benjamin hall. >> brexit is the world so many people are fed up of hearing. many don't care how it happens. just so long as it does. it is uncertainty which is hurting economy. that is hurting britain. while this could finally be the biggest week yet for brexit.
it started off with pomp and ceremony as the queen opened a new session of parliament. she announced the new government legislative agenda. no surprise at the very top was brexit. >> my government's priority has always been to secure the united kingdom's departure from the european union on the 31st of october. >> there are rumors that a deal with europe is close. the deal apparently would hinge on keeping northern ireland in the european customs union while the rest of the uk comes out, at least until future negotiations are complete. if that is agreed. if boris son john gets a deal, he would put that before parliament this saturday to be voted on. that way we'll know if brexit is happening. meantime boris johnson continues to talk about the future benefits of brexit. >> as we prepare to get brexit done. by october 31st, we are setting out our vision of an open, global free trading united
kingdom, a high wage, low taxed economy, with the highest environmental standards, new protections for animal welfare, the best place to invest. >> even if boris johnson does get deal, brits it to parliament not sure it get as vote saturday. by voting against any deal they bring down the government, installing themselves. if he doesn't get a deal. parliament voted to force him to ask for an extension which would effectively mean back to square one. back to the negotiating table. back to you. lauren: here we go again. benjamin hall. thank you. connell: still going, reaction, analysis from mark littlewood. general director of the institute for economic affairs he joins us this evening from london. thanks for coming on. we appreciate it. had similar conversations. if we were having a conversation on friday. we may have led with the fact things are looking pretty good.
look at irish prime minister's comments. we're having on monday, i'm not so sure. what is the latest analysis? >> you're quite right, connell. things seem to change all the time. and the clock is ticking, to that october 31st deadline. that's when the united kingdom is supposed to leave the european union, frankly with or without a deal. but that has been complicated by parliament instructing the prime minister with no deal in place and agreed by parliament and the eu, he needs to seek further extension. this has been going on forever, frankly. nobody knows when this movie is going to end or how. it is worth reminding viewers that britain voted for brexit, a full four months before the american presidential election which installed donald trump. connell: that's right. >> can you imagine if the u.s. held a presidential election, some three years later the president had still nod been installed. that is why there is awful lot
of frustration whether the vote will be carried out but the crucial point to look at, not so much, the will pageantry queen elizabeth's performance and appearance in parliament today, but can an a deal be agreed at next eu council meeting of this week? can they solve a thorny problem how northern ireland will be treated under any sort of agreement, if so, boris johnson has a small window to get it through parliament. but a parliament which he no longer commands a majority. there is chance it is resolved but not a certainty. connell: can you explain a little bit the political dynamic where johnson moves in a way he can have, what sometimes the irish referred to as frictionless border between the republic of ireland and northern ireland? does he then risk losing votes on the other size? what is that, how much can he give and still make it so, there is not, armed guards on the
border, like there was years ago. >> sure. connell: does he risk losing votes if he gives in there? >> the real problem the success of the irish peace process over the years nobody wishes to disentangle, as the eu leaves european union, one land border left with european union. that land border will between the border between northern ireland, part of united kingdom and republic of ireland, wholly independent nation-state as member of the eu we never really seen that friction between the uk and northern ireland and republic of ireland before, because we both joined the european union together at the same time. suddenly, as brexit happens, we'll be in a different trading and regulatory framework on the south of the border and the north of it. so how should that work? if you're in the same regulatory environment, the same trade zone, it doesn't matter. it is no more than a border
between say massachusetts and a neighboring state. but once you're in different territories it does matter. so how can you properly allow trade to flow without the antagonism of a erecting hard infrastructure on the border, spot-checks all the rest of it, which would likely unravel the peace process. that is the final piece of the jig jaw. nobody has been able to slot in pace to the satisfaction. key party in the northern ireland is democratic unionists which con curve tiffs rely on. to the satisfaction of the european union. somebody needs to find a technical solution to that quandary. connell: it is complicated stuff. they don't want to give up on a process that put peace in place more than 20 years in northern ireland. since the good friday peace accord. mark, thank you. >> thanks so much. lauren: college admissions scandal turned movie, lifetime television movie about the college scam aired on saturday.
it did not include a single reference to the celebrities involved, lori loughlin and felicity huffman? is that a good move? let's ask david asman. do they want to watch it? >> they want to avoid lawsuits. we all know who is who in this story. we've heard enough. in fact to tell you the truth, i've had enough of the story. i don't know about you. they have had all details, various justifications, attempts at justification. i've had enough of it. >> curious to see lori loughlin's defense at trial. what else is coming up on bulls and bears? >> a lot going on. latest on new tariffs as we're looking at the scandal that the college admissions scandal. new tariffs by the trump administration on turkey, as a result of their invasion of syria. we got james carafano to talk to us about that. then we have the chairman of the millionaire, the patriot millionaires. remember that group?
they think they're not being taxed enough. they want more taxation but are they willing to sign on to elizabeth warren and bernie sanders wealth tax. we'll ask them. particularly this guy, the chairman of the group, whether that is going a little bit too far even for him. lauren: exciting stuff. david, thank you very much. we'll be watching. catch david asman, 5:00 p.m. eastern on fox business. connell: check with david. make sure he has at least passing interest in the stories. lauren: that's a good point. it is all about lori loughlin. connell: we all get sick of these stories. fda is under pressure for dismissing signs that could have prevented a massive vaping crisis across the u.s. dr. marc siegel on the new development. he is next. cologuard: colon cancer screening for people 50
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e-cigarettes went unchecked in 10 years of fda inaction. that is the report. here to discuss dr. mark siegel. thank you for joining us. a lost decade, if we had this information about the new technology for anti-42traditionl smoking why didn't officials look into this. >> i don't think that all of the blame should fall on fda in 2009, e-cigarette company successfully filed a lawsuit against the fda and prevented the fda from considering it a drug, it fell under tobacco law. of 2009, cigarettes are hard to regulate, fda did not have a lot of teeth to begin with, then the idea that maybe e-cig brett
gretz helped -- e-cigarettes helped smokers quit. who abouwhat about the idea you are better off with apan e-cig than a tobacco sig, o that day, i believe that true, but the manufacturers including juul got got so big they started targeting the youth. they say they did not. hard to believe with the different types. lauren: some cities, some states ban flavored e-cigarettes to teens, is the larger issue, thc, and the fact that marijuana in legalization is not federal, have you a state by state system, 1300 patients sickened
with lung disease in many cases because they are smoking who knows what in the e-cigarettes, do you think many are not admitting that oh, we put it, hc in the -- thc in the vaping device. >> you made a tremendous point, the problem that has rock wokene up is really the illicit bootleg product, marijuana-based, with chemicals and oils other toxic chemicals that are causing the lung damage. most of that is illegal. the fda has no authority over that, it is very gray whether they can regulate it, they cannot regulate a bootleg or illegal product, that is a huge problem. the real problem, even if you made marijuana legal in all 50 states, it still ends up in states where is legal, the illegal industry is still burgeoning it cheaper to buy it
illegally. lauren: we video an epidemic, dr. siegel thank you. connell: thank you lauren for joining us, we appreciate it when lauren hangs out with us. lauren: he really means this. connell: "bulls and bears" starts right now. david: 2020 hopeful, democrat socialist bernie sanders taking his first direct shot at elizabeth warren today. slamming her as quote, a capitalist. as he tries to further separate himself as only candidate who'll take on what he calls corporate greed. this is "bulls and bears," i am david asman. joining me, jonathan hoenig. christina, steve moore and gary kaltbaum. one day before the fourth democrat debate, bernie sanders trying to draw a contrast between himself and elizabeth warren, listen. >> there are differences between elizabeth and myself, she has