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tv   Cavuto Coast to Coast  FOX Business  October 24, 2019 12:00pm-2:00pm EDT

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energy reforms for working families. because of the president's policies, america has added trillions of dollars of wealth to our economy. while china's economy continues to fall behind. to level the playing field for the american worker against unethical trade practices president trump levied tariffs on $250 billion in chinese goods in 2018 and earlier this year president announced we would place tariffs on another 300 billion of chinese goods if significant issues in our trading relationship were not resolved by december of this year. to protect intellectual property rights, the privacy of our citizens and our national security, we have taken strong steps to curtail illegal behavior of chinese companies like huawei and zte and we urged our allies around the world to build secure 5g networks that
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don't give bejing control of our most sensitive infrastructure and data as well. as we've grown stronger economically, president trump has always signed the largest increases in our national defense in more than a generation. $2.5 trillion of new investment in our national defense just in the last three years. we've made the strongest military in the history of the world stronger still. and to make it clear to beijing that no nation has a right to claim the maritime commons as territorial seas, the united states in the last year has increased the tempo and scope of our freedom of navigation operations and strengthened our military presence across the indopacific. to uphold the values of freedom-loving people every year, we've also called out the chinese communist party for suppressing freedom of religion
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of the chinese people. millions of ethnic and religious minorities in china are struggling against the party's efforts to eradicate their religious and cultural identities. the communist party in china has arrested christian pastors, banned the sale of bibles, demolished churches and imprisoned more than one million muslim we go -- uyghurs. we head them accountable for prisoning minorities when president trump imposed restrictions on chinese part officials as well as sanctions on 20 chinese public security bureaus and eight chinese companies for their complicity in the persecution of uyghurs and other chinese muslims. [applause] we've stood by taiwan in defense
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of her hard-won freedoms. under this administration we've authorized the additional military sales and recognized taiwan's place as one of the world's great trading economies and beacons of chinese culture and democracy. as millions have taken to the streets in peaceful protests we have spoken out on behalf of the people of hong kong. president trump has made it clear from early on that there must be a peaceful resolution that respects the rights of the people of hong kong as outlined in the 1984 sino british joint declaration. these are all historic actions and no president before has so vigorously advanced america's interests in our relationship with china. in response to america's actions and resolve some multinational
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corporations say our economic policies are too tough and that advancing our interests and our values runs contrary to better relations with china. needless to say we see it very differently. despite the great power competition that is underway and america's growing strength, we want better for china. that's why for the first time in decades under president donald trump's leadership the united states is treating china's leaders exactly how the leaders of any great world power should be treated, with respect, yes. but also with consistency and candor. in that spirit of candor i must tell you that in the years since my hudson speech beijing has still not taken significant action to improve our economic
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relationship and on many other issues we raised bejing's behavior has become even more aggressive and destablizing. on the trade front this past may, after months of painstaking negotiations, resulted in mutual agreement on many key matters, at the last moment china backed away. backed away from a 150 page agreement sending both sides back to square one. now president trump still believes beijing wants to make a deal and we welcome the support for american agriculture in the new phase one agreement and hope it can be signed soon at the apex summit in chile this week but china knows there is a whole range of structural and significant issues between our two countries that also must be addressed for instance, despite
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a 2015 promise in the rose garden by china's leader to cease and desist china continues to aid and abet the theft of our intellectual property. last july the director of the fbi told congress that of his agency's 1000 active investigations into intellectual property theft, the majority involved china. american enterprises continue to lose hundreds of billions of dollars each year in intellectual property theft. behind these statistics are not just businesses but people, families, dreams, threatened by the violation of their rights and the theft of their genius. free enterprise depends on the ability of risk-taking citizens to pursue their ambitions and reap rewards of their sacrifice. when the product of their labor is stolen, when the sweat of
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their brow is made futile, it undermines our entire system of free enterprise. last year alone there has been case after case of intellectual property theft involving china. in march tesla filed suit against a former engineer who has been accused of stealing 300,000 files related to its own american developed autopilot system before bolting for a job at a chinese self-driving car company. last december, the justice department revealed that it had broken up a nearly four year operation by a notorious hacking group within china's ministry of state security. these chinese government officials stole the names and data of 100,000 u.s. navy personnel. as well as ship maintenance information with grave implications for our national security. despite china's promises to crack down on chinese fentanyl
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and other synthetic opioids, the truth is those deadly drugs also continue to flood across our borders. claiming the lives of thousands of americans, every month. today, china's communist party is building a surveillance state unlike anything the world has ever seen. hundreds of millions of surveillance cameras stare down from every vantage point. ethnic minorities must navigate arbitrary checkpoints where police demand, blood samples, fingerprints, voice recordings, multiple angle head shots and even iris scans. china is now exporting to countries in africa, latin america, and the middle east the very zoom technological tools that it uses in its authoritarian regime. tools that it has deployed in
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places like zhingang. tools it deployed often with the help of american companies. beijing has also smashed the barriers between civilian and military technological domains. a doctrine that china calls the military civilian fusion. by law and presidential fiat companies in china, whether private, state-owned foreign, must share technologies with the chinese military. and china's military action in the region and its approach to its neighbors over the past year has also remained increasingly provocative. while china's leader stood in the rose garden in 2015, and said that his country had and i quote, no intention to militarize the, the south china sea, beijing deployed advanced
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antiship an anti-air missiles atop a archipelago of military bases constructed on artificial islands. beijing has stepped up its use of, what they call maritime militia vessels to regularly menace filipino, malaysian sailors and fishermen. the chinese coast guard has tried to strong arm vietnam from drilling for oil and natural gas off of vietnam's own shores. in the east china sea in 2019, our close ally, japan, is on track to scramble more fighter aircraft sorties in response to chinese prove vision than in any previous year in history. china's coast guard sent ships more than 60 days in a row in waters around the senkaku island administered by japan. china is also using its one belt, one road initiative to
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establish footholds in ports around the world, ostensibly for commercial purposes but those purposes could eventually become . we see now the flag of chinese ownership flying today in ports from sri lanka to pakistan to greece. earlier this year, it was reported that beijing assigned a secret agreement to establish a naval base in cambodia. it is reported that beijing is even eyeing locations on the atlantic ocean that could serve as naval facilities. and, while our administration will continue to respect the one china policy as reflected in the three joint communiques and the taiwan relations act, through checkbook diplomacy, over the past year china has induced two more nations to switch
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diplomatic recognition from taipei to beijing, increasing pressure on democracy in taiwan. the international community must never forget, that its engagement with taiwan does not threaten the peace. it protects peace on taiwan and throughout the region. america will always believe that taiwan's embrace of democracy shows a better path for all the chinese people. [applause] but nothing in the past year has put on display the chinese communist party's antipathy to liberty so much as the unrest in hong kong. hong kong has served as an important gateway between china and the wider world for 150 years. hong kong is one of the freest economies in the world with
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strong, independent, legal institutions and a lively free press and it is home to hundreds of thousands of foreign residents. hong kong is a living example of what can happen. when china embraces liberty and yet for the last few years beijing has increased its interventions in hong kong and engaged in actions to curtail the rights and liberties of its people. rights and liberties that were guaranteed through a binding international agreement from one country, two systems. but president trump has been clear. as he said in his words, the united states stands for liberty. [applause] we respect the sovereignty of
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nations. but america also expects beijing to honor its commitments. president trump has repeatedly made it clear it would be much harder for us to make a trade deal if the authorities resort to the use of violence against protesters in hong kong. [applause] since then, i'm pleased to observe that hong kong authorities have withdrawn the extradition bill that sparked the protests in the first place and beijing has shown some restraint. in the days ahead, i can assure you, the united states will continue to urge china to show restraint, honor its commitments and respect the people of hong kong. to the millions in hong kong who have been peacefully demonstrating to protect your rights these past months, we stand with you.
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[applause] we are inspired by you and we urge you to stay on the path of non-violent protest. [applause] but know that you have the prayers and admiration of millions of americans. as china has exercised influence across the region and across the world, as i said last year, chinese communist party is also continuing to reward and coerce american businesses, movie studios, universities, think tanks, scholars, journalists and local state and federal officials to influence the public debate here in america. today china is not only exporting hundred of billions of dollars in unfairly traded goods to the united states, but lately
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china has also been trying to export censorship, the hallmark of its regime, by exploiting corporate greed beijing is attempting to influence american public opinion, coercing corporate america. far too many american multinational corporations have kowtowed to the lure of china's money and markets. by muzzling not only criticism of the chinese communist party but even affirmative expressions of american values. nike promotes itself as a so-called social justice champion. but when it comes to hong kong, it prefers checking its social conscience at the door. nike stores in china actually removed their houston rockets merchandise from their shelves to join the chinese government in protest against the rockets general manager's seven word
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tweet which read, fight for freedom, stand with hong kong. some of the nba's biggest players an owners who routinely exercise their freedom to criticize this country lose their voices when it comes to the freedom and rights of the people of china. insiding with the chinese communist party and silencing free speech, the nba is acting like a wholly owned subsidiary of that authoritarian regime. a progressive corporate culture that willfully ignores the abuse of human rights, it is not progressive. it is repressive. [applause] when american corporations professional sports, pro athletes embrace censorship, it is not just wrong, it is un-american. american corporations should
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stand up for american values here at home, and around the world. [applause] beijing's economic and strategic actions, its attempts to shape american public opinion, prove out what i said a year ago. it is just as true today. china wants a different american president. which is the ultimate proof that president trump's leadership is working. america's economy is growing stronger by the day. china's economy is paying the price. the president's strategy is correct. he is fighting for the american people, for american jobs and american workers like no president has before. and i promise you, this administration will not stand
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down. [applause] that said, the president is also made it clear the united states does not seek confrontation with china. we seek a level playing field, open markets, fair trade, and a respect for our values. we are not seeking to contain's china's development. we want a constructive relationship with china's leaders. like we have enjoyed for generations with china's people. and if china will step forward, and seize this unique moment in history, to start a new, by ending trade practices that have taken advantage of the american people for far too long, i know president donald trump is ready and willing to begin that new future.
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[applause] just as america has done in the past, when ping reform and opening policy encouraged engagement and exchange with the outside world the united states responded with open arms. we welcomed china's rise. we celebrated the remarkable accomplishment of 600 million people lifting themselves out of poverty. america invested more than any other nation in china's economic resurgence. the american people want better, for the people of china. but in pursuit of that end we must take china as it is, not as we imagine or hope it might be some day. a people sometimes ask whether the trump administration seeks to decouple from china?
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the answer is a resounding no. the united states seeks engagement with china and china's engagement with a wider world. but engagement in a manner consistent with fairness, mutual respect, and international rules of commerce. but so far it appears the chinese economist party continues to resist a true opening or a convergence with global norms. all that beijing is doing today from the party's great firewall in cyberspace or to that great wall of sand in the south china sea, from their distrust of hong kong's autonomy, or their repression of people of faith, all demonstrate that it is the chinese communist party that has
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been decoupling from the wider world, for decades. president xi himself, i'm told, said in a once secret speech shortly after his rise as party general secretary that china news conscientiously prepare for all aspects of long-term cooperation and struggle between the two social systems. he also told his colleagues at that time, not to underestimate the resilience of the west. there was wisdom in those words. china should never underestimate the resilience of the freedom-loving people of america or the resolve of the president of the united states.
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[applause] china should know, that the united states values run deep, that our commitment to these values remains as strong as it was for our founding fathers. and that there will never be a day when the bright light of democracy and freedom goes out in america. [applause] america was born out of rebellion against repression and tyranny. our nation was founded, settled, pioneered by men and women of extraordinary valor. rugged determination, faith, fiery independence and an iron will. >> vice president mike pence making a speech on china, closely followed here and in
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china, speaking at the wilson institute in washington today. he may move markets. as he does, give us a lot to go into. welcome to "cavuto coast to coast." i'm connell filling in for neil. he went specifically after the company nike. with pointed commentary towards the nba as well. we'll talk about it all. as we continue here. dow jones industrial average which has been fluctuating today, mostly lower, but extended its declines as the vice president was in the midst of is had speech. intraday chart shows that. down triple digits moment ago. more on that. edward lawrence first from washington. he has been covering china trade for us. it is interesting, edward, go
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through what the vice president said, we were led to believe there would be something of an olive branch from the chinese on trade. i'm not sure they will hear those comments as as an olive branch. reporter: it was in there. the speech changed over the past 24 hours. it was in there, they may not have heard it with all the other stuff he was talking about. vice president mike pence blasting the chinese in the speech there at the wilson center. he says the chinese are guilty of human rights abuses, stealing intellectual property and national security issues like spying. setting up what he calls the world's largest surveillance state. but the speech toned down a little bit on the economic future with china saying that the u.s. is not trying to contain chinese development. listen. >> people sometimes ask whether the trump administration seeks to decouple from china? the answer is a resounding no. the united states seeks
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engagement with china and china's engagement with a wider world. but engagement in a manner consistent with fairness, mutual respect, and international rules of commerce. reporter: the vice president's speech comes on a day the chinese announced what could be called a breakthrough on the nal development and reform commission in china says china ss allow the forced transfer of technology. this goes into effect on january 1st. all of these things have been asked for by the u.s. for the past 19 months or so also the department of agriculture here in the u.s. announced chinese company bought another 264,000 metric tons of soybeans, a big, big purchase. china seemingly trying to show it will follow through with a deal this time around. connell. connell: ask you about your reporting, why did you take the
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vice president's speech live on china today? for the point of reference he made a speech in october of 2018 which he talked about at the heritage foundation, people here may remember it, i can say, you know this reporting on the trade talks, in china they remember it. that is seen as a point which the night really, put it, i guess simply, got really tough on china, right? so you're saying this time around, they were conscious of that. i think it is interesting you said in the last 24 hours they made changes to the vice president's address today. reporter: exactly. the u.s. is very aware that china melds all of this together. for instance, this speech was supposed to be given last june and actually it was during a week, it fell during a week there was going to be face-to-face talks here in the united states in washington, d.c., with the chinese. the chinese refused to commit they were actually coming to the talks until after that speech was postponed. now it is given today. the chinese very sensitive about the ideas inside of this speech. as the vice president said in the speech though very clearly,
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we need to be frank and speak frankly with the chinese and treat them as they should be treated with respect but also let them know they're on notice for all of these other things that they do. connell: edward, good reporting as always. edward lawrence in washington. let's bring in from "the wall street journal" global economic editor john hilsenrath and point bridge capital, hal lambert joins us. your thoughts what you heard today. >> there is lot to, you're questioning why you covered that live, i congratulate fox business for covering this live. this was the most coherrent discussion of this administration's stance towards china i've heard in perhaps the most coherrent discussion of america's stance towards china i've heard in many years. i know it is pretty stark that they challenged the chinese on hong kong and taiwan and said that the u.s. stood with
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protesters in hong kong. that was very bold. you know there was also some nuance, i don't want to go on too long about this, but there is nuance i think is very important. i think it is really important for the u.s. to challenge china's behavior but not to express resistance to its rise. earlier in the speech it sounded like the vice president was unhappy that china has become the prosperous nation that it has. i think it is the behavior that you have to worry about and then later in the speech he kind of changed that, listen, we welcome 600 million people being lifted out of poverty. we took part making that happen. i think that is the message that the chinese need to hear. connell: you're making an important point on challenging behavior, because if you do talk, hal, about china's rise, it is seen in beijing as a threat to what they would describe as china's sovereignty. don't be telling us how to run our country but to jon's point the vice president did not back down bringing up some point that
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will be, i don't know how they will be seen. interesting to see how the chinese interpret for example, what he said about hong kong. what did you think? >> i thought it was an amazingly strong speech. it was so cohern. it took the broad issues and narrative down to examples of each broad issue with china. he went through it point by point. i think it is great he called out nike and great that he called out the nba and other companies enabling china to continue to do what they're doing. he put it on american companies as well. connell: right. >> he talked about the fact we had a deal. we had a deal in march that china walked away from. he threw out olive branches. we want to deal with china and china to prosper. that is in our interest. we could get a phase one deal. china has seen the effects of these tariffs and effect of our policies. their growth has slowed down massively. they have manufacturing leaving the country. china's interest is really there our concern on this end we don't
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want china to go into a meltdown. that is not good for the global economy or not good for the u.s. i think we could get a phase one deal to slow that, to move forward because they don't have a major economic problem. because we don't want that either. connell: edward talked about this, i want to get back to you as well, hal, what the vice president brought up about american companies. nike in particular. in that part of the speech he was talking about hong kong a living example what happens when china embraces liberty said the vice president but for the last few years beijing has bin intervening there. he got into the controversy how the nba handles it. particularly how nike handles it. let's get into the portion about nike and we can talk about it. here is the vice president. >> nike promotes itself as a so-called social justice champion but when it comes to hong kong it prefers checking its social conscience at the door. it is not just wrong, it is un-american.
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american corporations should stand up for american values here, at home, and around the world. connell: jon, i would add to that the comment about the nba he said is acting like a wholly-owned subsidiary of authoritarian regime. what did you think? >> i thought that was a really important part of that speech on many levels. for one, american corporations are the bridge between the u.s. economy and the chinese economy. it is their factories that they set up there or their contract manufacturers that they're working with. they're bringing chinese goods into our country. you know, for many years it was american corporations that lobbied here in washington to go soft on some of these practices, to look the other way on human rights issues. connell: right. >> i think american corporations have gotten fed up in their own right on having intellectual property stolen, not getting access to their markets. so their view has changed. i say it is about time an american leader stood up said,
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american companies need to stand up for our values everywhere in the world. very bold part of that speech. connell: all of that said, we have to get in a break, hal, make that quick. you still think, there are signs of it today, we can at least get some sort of a small phase one interim deal, even in this environment with those tough comment? >> i think it is possible. mainly because president trump would be open to it. china has serious problems. they're at decades low growth. they're very levered, their banks are levered, their economy is levered. they may go into a meltdown and we don't want them to go into meltdown. originally i was not for that phase one deal but i think it's a bridge to move forward. i think we're too far apart on other issues. >> connell, do i have a second to chime in on that? connell: yeah. >> i think we'll get some non-escalation agreement in the next few weeks. we don't add more terrorists. they try to bring ag purchases
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back up. we're long way from any kind of agreement. >> i agree with that. connell: jon, hal, good stuff. the dow has come off 30 points from the lows the last few minutes. we're down 67. other news breaking from overseas in the uk. we heard from boris johnson, he is the prime minister, he is calling for an election. calling for that election to take place on the 12th of december. we'll talk about that when we come back. "after the bell," 4:00 p.m. eastern. all this plus amazon earnings and a whole lot more.
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connell: move on to some other news. look at tesla up 17%. that is what happens when you turn a profit, right and you're tesla, you report record deliveries. elon musk is looking ahead. full version of self-driving car could be ready to go by end of
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the year. look, no hands. john is here about the self-driving crazy. i'm looking forward to not driving my kids to soccer. at the end of the year, that sounds soon but do you think elon has this thing ready to go? >> sounds soon. if you drive a tesla you can realize this is coming soon. the end of the year will likely be rough around the edges with a fully self-driving capability for tesla. if you get in a tesla be today, these cars drive themselves almost completely on highways. they change lanes for you. they stop on your behalf. the level of sophistication in the vehicles is truly unbelievable t comes down to tesla's incredible defensibility around their autonomous technology which no one else can match right now. connell: you're dropping soft hints, john, that you drive a tesla. you say things if you drive a
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tesla, do you? are you tesla guy? >> i finally did get one. connell: which one? >> i the got the low end model 3, the cheapest one you can get. what is so interesting about it, even that one has tesla's autopilot features which is just astronomical. i drove it from san francisco to austin, it drove itself for 98% of the way easily, with no issue. connell: got to move on. talk twitter for a moment, john, while you're here. i want to bring in deion from "axios." twitter adding more users but the stock not doing well. a big miss on revenue. it is kind of a interesting issue for twitter that we covered for years. more and more people use it, everybody is getting their information from it but how in the heck do you make money? i know they're blaming software but do you how make money, deion? >> you can say this is one-time
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error, these issues will not bounce back and hit the company long term. you could say that, but as you pointed out, twitter has a long and storied history of making self-errors or really avoidable mistakes. this is just another another example of thing in the market they thought they had worked out. the stock was driving towards 41-dollar mark. once again you have same old problems. new people making the same old mistakes. you have to wonder if this is an issue with jack dorsey or the entrenched leadership at twitter? can they keep the ship on the straight-and-narrow. you see the chart up there. vin toess have gotten bullish. earnings reports say maybe they haven't. connell: i see twitter, john, sometimes i look at it, compare it to what facebook does. facebook is an easy target for a lot of people for all kind of different reasons. you can go after mark zuckerberg or go after the model.
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nobody, no young people are using it, all these things we talked about with facebook but at the end. day they make a lot of money and think know how to make money at facebook, i wonder if they figure that out, or figure it out the right way at twitter. what do you think, john? >> i think twitter figured it out. twitter makes money with advertising. the problem when you compare twitter's advertising product with facebook and google, it doesn't compare. connell: right. >> if you're small company you will choose facebook and google over twitter to target customers. you can reach more people and in better and precise ways which saves you money as an advertiser. the other thing twitter is dealing with one controversy after another. ther political side for allegations that twitter hides certain content of the other thing is, what deion touched on is the leadership. i think a huge loss for twitter was losing former coo adam bean
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before he left was working on innovative revenue generating opportunities in the live tv space, which is really interesting, considering so much of the media industry is jumping into the post-cable ear ray, they were ahead of it. you could get the nfl or whatever it was. >> nfl, yes. connell: they were ahead on that. that is a good. to john's point a lot of companies cute up. can stream an nfl game on amazon for example, other companies have similar plans. even facebook getting into news a little bit more. twitter was ahead of it. it comes down to execution, deion? >> comes down to execution and how much you want to pay. twitter got into the game nfl and they were the only game in town. we can drive the price up, create a little competition, one thing the nfl is great at is making money. facebook, i'm sorry, twitter got
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itself into unsustainable and untenable position trying to do streaming wars trying to put itself in the streaming wars. john, what you were talking about, all the issues were supposed to be solved by the shift towards video. the shift towards video was bringing in at lo more revenue. it was bringing the stock price straight up. we see that might not be enough to sustain the momentum. these are big issues. if you believe in twitter. if you believe in the base case, the believe the team there, that is really the key, then you don't get off because of one bump in the road, this earnings miss wasn't that big if you start to think about it but it makes you question who is at the helm or who -- connell: whether or not that needs to change. good stuff from both of you. we have 2020 news we want to move on to now. charlie gasparino joins us in the newsroom. we had tulsi gabbard and reporting about tulsi gabbard and hillary clinton. there was meeting on
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wall street. what do you have, charlie. >> she is an outsider not doing very well in the primary. she is an outsider. had this big fight with hillary clinton, exchanges that were pretty nasty. also there is widespread speculation in the democratic party she will run as a third party candidate that would hurt obviously who would eventually become the nominee. as all this is going on, fox business has learned that gabbard was in new york city last night for a private meeting with wall street executives and possible donors. this meeting occurred at anthony scaramucci's hunt and fish club. it was sponsored by robert wolf, as you know is a fox business contributor but also a prominent democratic party fund-raiser. a guy part of the establishment which raised some eyebrows also. bob himself is a wall street executive. run as private advisory firm and used to be ceo of ubs americas. he has advisory firm he does on
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the side with anthony scaramucci. this occurred last night t was a private function, attended by two wall street executives. they are likely donors. they will be hit up for contributions by the gabbard campaign at some point, i'm told. it raised a lot of eyebrows. apparently she did not attack hillary clinton during this meeting and she really did impress the wall street folks. if you look at tulsi gabbard on policy she is all over the place. pro-second amendment, pro-guns, at least nominally. she is against foreign intervention in wars. she has some of the same sort of policy positions as donald trump, maybe why trump is patting her on the back so much with the fight with hillary. connell: they say she might run third party for real? >> this is the other thing that is fascinating. i've been asking democratic party people about this. robert wolf sort of connection here is interesting. he is generally establishment candidate. >> like a biden guy? >> i believe he is a biden guy.
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you have to ask him. he is on our air enough. if he supporting biden why is he supporting -- why is he doing something that might help a third party candidate which would hurt the democratic party nominee? this is not me saying this. these are democratic activists i spoke to to today in the wake of this meeting. we'll have a report on which raises some of these issues. we should point out mr. wolf had no comment. tulsi gabbard campaign had no comment. connell: i wanted to touch on, because done reporting on mike bloomberg, whether he runs. is it still pipe-dream? >> very outside chance is i bring this up, there was this report, judge judy, there is not a joke. she wrote it about in "usa today," he can help us heal. she is all-in bloomberg. the problem bloomberg is not all
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in. >> "judge judy," i know her a little bit. very nice problem, she is not, like a far left, she is like a moderate, she is kind of, when i met her she came across moderate to conservative to me. i will say this about mike, mr. bloomberg a mayor who was a very good mayor we should point out, you know, i think he want to run. i've been told by people close to him the door is open like, just a little bit ajar. he hasn't totally said no. he maintains his campaign office as we first reported but you know, they're telling me, that you know it would take something sort of dramatic for him to go there. i think it would take essentially bernie sanders being the nominee, not even elizabeth warren. this is, this is the impression i'm getting from them. because you know, he has to see a clear path to victory. connell: at some point it is about timing if he wants to run
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as a democrat. >> here is the interesting thing in timing because i've been bouncing this off with party insiders, anybody that can do it not in the race now would be him. he has money to self-finance. he can get in as late as january. i've been told he hasn't totally said no. the door is open like that much i've been told. still has the campaign office but if you were going to lay odds, the odds right now would be against it i am told. connell: "judge judy.." in his corner. >> you have to let go for it. connell: charlie, thank you, sir. how is this for transition, go from gasparino to haunted houses. that may not be difficult to do. there is a house said to be so scary, it bets you 20 grand that you, if you get through the haunted house, give you $20,000. apparently nobody can. we'll be right back.
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♪ connell: i really don't know about this segment. your worst fears coming true! the scariest haunted house in the united states is offering $20,000, to anyone who can finish. anyone get through the haunted house, they give you 20 grand to go in. you need a doctor's note. a safe word, of course. a 40-page waiver. the psychotherapist, dr. robi ludwig is here. you have analysis on this. >> brought me in for psychological torture. connell: so hard to get through, they give you 20 grand. somebody tells you there is hypnosis to make you more scared. i don't know how much about it.
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>> i don't know how legally they get away with it. i can see so many lawsuits that result it doesn't seem worth it. it its looking at video what they are induce something a form of psychological torture but for fun. so i man whoever is going into this haunted house. connell: what goes on in the guy's head? what is actually happening to the people in the situation? why can't they get through it? >> i'm sure in part, they probably don't feel that they can't get through it. part of the drive is, maybe i would be the one that could get through it, maybe they're the one that can get through it. there is excitement and danger. that is why we like horror movies. to go through haunted houses. this is another extreme. these are truce masochists that are in for an adrenaline rush to see if they get through. what is scary is, that i as a therapist would never sign off any of my patients or anyone i know. connell: a joke is a joke.
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made plenty of them, trust us. you should have been here through the commercial, i found out, won't say who, somebody's safe word is pineapple. which is fine. >> mine would be lawsuit. there you go. connell: we were joking, you're saying, maybe we shouldn't? people could get hurt doing this? >> part of what is acceptable given psychological torture, they know they are doing it entertainment, doing it for fun and know they have a safe word. i would not feel safe inducing this even for fun because some of the things they were doing, i wrote it down, sensory deprivation can cause bizarre thoughts. connell: what does that mean? >> put inn a dark room, you lose a sense of yourself, or sense of your surroundings. it creates a learned helplessness, you can't control the environment and get out. yourself image is altered
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because you are no longer in the environment. some of the things they make you do. eat vomit. hold certain positions for a long time expire apple. >> lawsuit, exactly. connell: right. >> but obviously people are enjoying it. there is a long waiting list. they have covered themselves as far as i can see. connell: why are we like this? you mentioned horror movies. people do like to be scared. why? >> there is an adrenaline rush. risk-taking. it is exciting. especially if you know you're doing it for fun. if someone is really abducted -- connell: i don't like scary movies. what is wrong with me? >> are you romantic comedy guy. connell: is there something wrong with me? you can say it. >> everybody is designed differently. connell: clearly think there is something wrong with me. >> in part you know that you're safe but can be scared at the same time. i imagine that is what is going on in this haunted house as well, i like that kind of. made myself, or made me feel better about myself.
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>> good job. connell: that is what you do all day long. i don't know. it's a strange world that we live in. i'm actually kind ever strangely fascinated that, maybe someone made through it. i want to be accurate on reporting. >> in part maybe because people are exhausted a eight hour process they're being tortured. going through a lot of different processes nobody could withstand. connell: pineapple ten minutes at most. thank you for coming. >> happy halloween. connell: in a moment we get back to business so to speak. you may have seen it live, the vice president made a very important speech on china. taking aim at china. a lot of specifics. a lot to dig through which we will do when we come back.
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the president's strategy is correct. he's fighting for the american people, for american jobs and american workers like no president has before. and i promise you, this administration will not stand down. that said, the president has also made it clear the united states does not seek confrontation with china. we seek a level playing field. nike promotes itself as a so-called social justice champion. but when it comes to hong kong, it prefers checking its social conscience at the door. it's not just wrong. it's un-american. american corporations should stand up for american values
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here at home and around the world. connell: vice president of the united states earlier today. i'm connell mcshane filling in for neil. vice president pence pushed for a level playing field with china, but also as you heard there, slammed companies that don't stand up to china. our panel to talk about it now, independent womens forum senior policy analyst, "wall street journal" associate editor and new york city council minority whip. welcome, all. we took it live, thought it was important to hear the vice president outline the administration's positions on china. some had said before that it was going to be almost conciliatory on trade and maybe to edward lawrence's reporting, there were a few olive branches mixed in. also a very tough speech. what did you think? >> yeah, look, it's probably incumbent upon the president to sound tough on china because the trade talks are not going great. this mini deal that was gotten a couple weeks ago was basically
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the same old china. we are going to buy your goods, all the other problems, push them to the side. that's what it was. we're not going to raise tariffs any further. if you increase your agricultural goods, no timetable for that, no specifics behind it. it was kind of a kick the can down the road. so this tough speech, which is quite interesting, this is, you know, we're not going to decouple from china, we're not trying to contain china when in fact there are elements of containment in the policy of the government right now. but it's easy for the administration to take nike to task when it itself has not really been out front on supporting what's going on in hong kong. connell: today may be the most aggressive commentary we've heard from this administration, about hong kong and it was that part of the speech, you know, it's you always have to be careful in assigning causation in this situation but that's when the market went to its lows when he was talking about hong kong. it's since come back to where it
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was earlier. he really went after it there and went after nike and the nba. what did you think? >> i think it's really great to hear that from this administration, because like you said, this administration actually strangely for all of trump's bombast when it comes to economics with china, he's been quite soft on human rights issues. he's been quite soft on this nba issue which was a huge story that you would expect a trump tweet out, right. he had a kind of mild tweet where he made fun of them a little but you would have expected him to hit on those issues. he hasn't. i was really really pleased to see mike pence hit on this issue. i think one of the ways the president -- one of the problems the president has had with this issue in general with the trade war and everything else is he's talked about it purely as an economic issue. when you are talking about it purely as an economic issue, then americans are going to look at the hits that tariffs have created for americans. but if you talk about it as a national security issue, if you talk about it in a way that asks americans look, we might have to sacrifice a little bit in the short term economically because these guys are geopolitical
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opponents and they do not wish us well, i think that's a message the majority of americans actually do believe and will, you know, support and fall in line behind. connell: the ceo of a major corporation just said recently the president, in his view, has morphed in his position on china. he started off saying they're ripping us off, we need to do something about this trade deficit, now he sees it much more broadly. maybe to the point she made, maybe that's what we saw in the speech today trngs, it's a much broader fight. maybe we can cut a short-term deal that will help us economically or stop the pain, so to speak, but you have to deal with human rights. >> i have long been a supporter of president trump. one of the fair criticisms by his critics out there has been as the china trade deals have progressed, there really hasn't been any commentary on the nba issue, on broadly speaking, hong kong, human rights. i do think that this is a step in the right direction. i do think giving a little pushback at least, i wouldn't say this is really dropping the gauntlet on china, but it is certainly a change of direction for the administration to begin to start confronting these
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things. i would just contest what john said. i think china's national development chair also just said they have agreed in essence to not -- no longer discriminate between foreign companies and domestic companies, meaning chinese companies, in terms of intellectual property. i think that is a fairly good progress -- >> they made some comments today that i think if they were made, good point, you know, a month or two ago, the market would have shot up. it's actually interesting that it didn't in some respects. i don't know if it's like the boy who cried wolf syndrome or people say that if china, in my view, china would have agreed to have made a deal on intellectual property a year ago, the question has always been whether they agreed to a deal that's been forced. peter navarro claims they have. we don't know whether that's the case or not. >> that's the old saying, time will tell. connell: exactly. >> enforcement, enforcement, enforcement. they agree to these things constantly. they say we are not going to keep your goods out, we will normalize our standards for what you are allowed to bring in, we will increase kind of thinking about government procurement and the government buying your goods as well as -- and then there's
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no enforcement. this is lots of talk on the part of china, decades of this, and kicking the can down the road. so that's where we are in the trade negotiations. we don't have anything of substance yet. that frees up i think the pences and trumps to talk tough on china. very good point i think on this national security front. when pence speaks this way, when anybody in congress speaks this way, it is a bipartisan acclimation. you get points on both sides of the political spectrum. the american public is behind this kind of rhetoric at this point. but it is a substitute for practical, real progress on the trade front which we don't have. connell: i want to transition, it's all related, to talk about american companies and it's kind of interesting, coming out with nokia, we will show the stock price, getting hammered. it's down by almost 24%. the reason is the company came out and said on 5g which is important to the u.s., important to china, of course, the
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competition is hurting them, they are spending a ton of money on it and you know, it's more expensive than they thought, essentially. the stock is getting hammered. that brings up huawei. that's who nokia is competing with here. huawei is the leader in 5g. i spoke this week with a top executive at huawei who told me in the interview that u.s. businesses are actually still interested in working with huawei on 5g in kind of a roundabout way. listen. >> we can license, you know, the product to any potential american partners. connell: you have any lined up? >> yeah, we do have some, they have some parties ask about that. connell: some u.s. companies, so we're clear on what's actually happened, have come to huawei saying we want to license your technology? that's where we are now? >> no, they just want to ask what exactly means, you know, we have an interest, that's it. connell: that would give you kind of a footprint still here in the united states, so to
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speak. >> it's still too early to say. connell: so just quick comments on this. think about that for a second. we blacklisted huawei. now it will say all right, you blacklisted us, let's sell this technology and that puts nokia in a tough spot. they're competing. >> yahoo! finance put it the best by saying there's almost no excuse for nokia to fail given all the geopolitical opposition to huawei's expansion, amazing to see huawei was able to sign more contracts. connell: other countries, other countries are still working with, germany, for example, they haven't banned huawei. we don't know what the uk will do. real quick, john? >> cheaper. why? state subsidies. why? it's a preeminent chinese company. it is a product of the government of china. this is a perfect example of what u.s. business and european business is up against. state subsidized entities that can compete unfairly on the global stage. connell: one thing for us to say
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we're -- the vice president actually talked about this today. they don't always go along. >> the vice president also made a comment about the chinese policy of not having a separation between military and private companies, right. i think that again, goes to the national security point. that's why i'm glad the administration is finally talking about it from this perspective. i think as long as we are talking about it from a purely trade perspective, purely economic perspective, we are missing key points like when it comes to huawei, like the fact, why are people nervous about this company. because it's so heavily in bed with the chinese government and because if we left them in, there's the potential the chinese government will have a lot of control and potentially access to a lot of things in america, even national security stuff. connell: key points, as you guys pointed out, where there is actually widespread agreement on, bipartisan support. when we come back, we will broaden it out across the world and talk about the uk because i don't know if you saw it today, boris johnson has said hey, we should have an election in order to push brexit through. >> so the way to get this done,
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the way to get brexit done, is i think to be reasonable with parliament and say if they genuinely want more time to study this excellent deal, they can have it, but they have to agree to a general election on december 12th. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪ i get it all the time. "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...
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connell: republicans causing a ruckus as the impeachment timeline appears to be in flux. nobody knows more about it than fox's chad pergram who joins us from capitols hi hill. yesterday was something else. reporter: eventful. connell: i was looking for the right word. what's going on? reporter: no witnesses today, because the house kind of took a break. there's no votes on the house floor, no witnesses, because of the services here with elijah
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cummings, the late democratic congressman from maryland, who was the chair of the oversight committee and part of this investigation, lying in state in statuary hall. what we will have is a deposition on saturday. this is phil reager, in charge of european and eurasian affairs. jim jordan indicated he would like that pushed back to a weekday so more members could be here. again, a closed door deposition. we are told next week and the week after that, they will start to ramp down some of these closed door hearings. there's a couple reasons. number one, the universe of people they need to talk to is pretty slim. so they are getting most of these people in the door and then they would probably punt this over to the judiciary committee and that's where you would start to have public hearings and maybe get some of these transcripts mid to late november. what republicans continue to carp about is the process that democrats are using to handle this impeachment process. that's mainly their talking point here. i asked the senate majority leader mitch mcconnell about
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that earlier this week. every time you ask a lot of senior republicans they turn this back around on the democrats and criticize the process and don't defend the president outright. this is the inherent question. >> you can ask them -- reporter: are you willing to defend the president in this matter? >> i'm willing to talk about the process. i just did. i think it's grossly unfair and i think the president has a legitimate complaint about the process. reporter: republicans yesterday, they stormed the house intelligence committee, some took their phones in to the secure area. that's a big no-no here on capitol hill. in fact, i'm told after the phones were confiscated, that one member still had a device on him that they didn't find and they had to scrub the room. that took about two hours. president trump was very appreciative of republicans standing up and said quote, thank you, house republicans, for standing tough. it's a total scam. connell: thank you, chad pergram, on capitol hill for us. joe, that's really what the president wanted to see, right?
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>> sure. connell: he wanted to see his own party stand up for me, essentially. that's what yesterday was about. >> it's dealeper than that. certainly the president wants to see people pushing back. it can't just be gaetz, it has to be a party-wide thing. the democrats have made it clear they are going to cheapen this impeachment process that should be solemn and open to the public. having these proceedings done in a star chamber that can overturn the will of the people is something that will fundamentally be -- connell: what's the republican argument once they do open it up going to be? as chad says, that's probably going to happen. >> there are lines of defense over whether there was a quid pro quo, even if there was a quid pro quo, whether the head of state is not the appropriate authority, otherwise, who else, to basically order the investigation of corruption in their own election so there is an avenue for republicans to investigate trump. the problem is, you see only leaks coming out of one side from adam schiff, as a result, we only discuss these issues in the frame of -- and the
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narrative that the democrats are trying to frame it as. connell: i understand. it will be interesting to see, to chad's point, what happens next week with that. i think from wall street's point of view, john, it's always kind of about results. and you look at some of these prediction markets, who knows if they're worth it or right on with what they say but they pretty much say it's a good chance, 7 in 10, maybe, the president is impeached but maybe only a 1 in 4 chance he's removed from office. some say with a republican senate, even that's a little high. how do you look at things in terms of outcomes? >> we are early in the process. it looks like the senate would not convict but we are early in the process. public opinion does seem to be shifting. more people view this as a big concern. they are less interested in what the republicans are interested in at this point, which is the process. they are more interested in the facts, and the facts are speaking pretty loudly. connell: what's the worst thing you've heard in terms of the president's point of view this week? you are referring to what we heard from mr. taylor? >> yeah. well, i think that the transcript of the call, what mr.
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taylor has said, what others have said in these hearings, which by the way, are the normal process, they are the legal process, the process of the house of representatives, those issues are resounding with the public. whether or not it will resonate enough to shift public opinion such that those in the senate feel compelled to convict, that's a long -- that's a bit of a stretch at this stage. we are early in the process. connell: let me talk about how it affects other policies that are being talked about, for example, usmca, the new nafta, whether the chaos there is threatening that from getting through. there are some arguments it should actually move faster because of the impeachment inquiry. white house trade official peter navarro was on the network earlier today and he talked about speaker pelosi and how she jeopardizes that usmca deal. let's listen to his perspective. >> there's one real sticking point, that's nancy pelosi. she fiddles while the usmca is in a deep freeze.
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this thing is ready to go put on the floor. the problem is only a few days left in legislative calendar for the house in october. connell: so what do you guys think? in terms of whether that actually gets done? that is one that matters i think to investors and everybody else. is it slowing it down, the impeachment inquiry, or should it speed it up? >> absolutely it's slowing down the ability of the house to function on anything else. look at what the news us covering 24/7. it's impeachment, impeachment, impeachment. that is a large problem for democrats because the country, you know, yes, numbers are moving on impeachment but i think what we're seeing is the settling of people who didn't like trump now in favor of impeachment and removal. we have the same divide you always had about donald trump and his base sees this as the third bite at the apple from democrats to try to overturn the results of the 2016 election. that conflict is going to push out anything that actually, you know, people in the middle are looking for. i think a lot of people are waiting to see all the evidence, they are waiting to see what the senate brings out if it ever makes it to the senate on that
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issue, and they want to see in the meantime, they want to see this trade deal. they want to see issues like health care being talked about and they're not. i think a lot of voters in the middle are frustrated with that. connell: i wanted to get in what's happening in the uk. boris johnson has called for election on the 12th of december. how do you see this whole thing unfolding? we will get brexit finally, he wins, what do you think happens? >> i think it's going to be tough to see how brexit does not happen but i understand the problem and i think nooij wiigee and others have talked about this. you have a parliament that doesn't seem to represent the actual will of the british people. in some ways, it's almost respective of the american impeachment process where this is going on behind closed doors. but the british parliament doesn't seem to be going in the same direction as the british public demanded they did in the referendum and i think the general election would be both good for boris johnson's party and i think it would be good for the british public. connell: how do you think he'll do in the election? >> if there's an election.
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he's suggesting that there would be and that's kind of holding his own party's feet to the fire. that unless you kind of speed up the process and get brexit through, we will call an election and aim to get a majority. look, he's got momentum at this point. he has the eu kind of behind him as well. they have been compromising on issues that they hadn't compromised with theresa may on. connell: give the guy credit for that part. a lot of people didn't expect that. >> exactly right. exactly right. so there does seem to be a tail wind, you know, at this point. back on usmca -- connell: sure. absolutely. absolutely. >> there are actually some issues that are still being negotiated. labor is unsatisfied with some of the contingencies with the usmca. holding foreign producers to the standards that labor feels are necessary for the deal, whether you agree with labor or not. lighthizer is back and forth, the ustr, is back and forth to the hill, still negotiating these things with members of congress. so there is discussions going on.
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connell: i always wondered if they make too many changes how it affects the other countries involved. >> complicated. mexico already ratified. they would have to have corollaries which are much harder to enforce. connell: we will get back to all of this. it's all very important, of course. it all seems like one larger story. it all fits together. in a moment, hillary clinton's 2020 door is supposedly opening up a little bit. what do you think? >> well, is this what the democrats want or is this what the democrats fear? we'll be right back. ♪ does your broker offer more than just free trades? fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity.
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(alexa) added "ukulele" to band shopping list. ♪ (nationwide jingle) perfect. peyton, what are you doing? 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. alexa and i disagree. alexa, add "positive attitude" to band shopping list. (alexa) added "positive attitude" to band shopping list. that's for you. you need it. join nationwide now and get a free amazon echo auto. connell: back to the markets for a moment. 3m, the biggest drag on the dow jones industrial average. been another busy day for earnings. not over yet, by the way. susan li joins us with the latest on all that.
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susan: 3m is actually offsetting the gains that we are getting from microsoft today and the maker of scotch tape and post-it notes cutting its full-year earnings outlook, saying it's not going to make as much money as they had hoped and that's despite a stronger quarter of earnings. we do have 3m right now down about 4.33%. really being hurt by the u.s./china trade war this year, and the stock is down, really underperforming given that we are looking at 20% gain for the broader s&p. comcast, lower in the session despite the fact they had a pretty good quarter, better numbers. first report card, in fact, just announcing its new streaming service called peacock will be introduced in the spring of next year but it's comcast's traditional broadband service providing faster speed internet for its customers that's actually helping lift its profit. fifth consecutive quarter where comcast has exceeded analyst forecasts and yes, the stock is also outperforming this year as well. the movies division didn't perform as it did last year and that's because you are comparing it to a pretty strong quarter
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last year when you had momma mia and the like although i didn't watch that particular movie. peacock will start in april next year. the new streaming service. it will come with the office and parks & recreation. finally, we have a big one tonight. amazon will be reporting results. we are looking for profits to drop around 20% from last year but sales should go up because they have introduced one-day prime delivery. however, that does increase costs, which should bite into the bottom line at amazon cloud. also important as well because they are the leader in cloud. i know we talk about them as an e-commerce giant which they are, since they control about 50% of the e-commerce sales online, but also, cloud, they were six years ahead of everybody else. of course, we will be taking a look at it tonight on "after the bell." connell: melissa and i will see you there. it's always fun. susan li. joe biden, meantime, taking a dig at the trump economy. he's on defense over his own record. the details, the analysis of all that, coming up next. we'll be right back.
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she really likes a lot of the people running. she knows them well. she thought about some of them for her vice presidency but there might be a reason she would be the best person not only to beat donald trump but to govern after donald trump. connell: how about that. that's long-time adviser to hillary clinton. last night with tucker carlson, saying the door's open for a
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2020 run for hillary clinton. maybe you can start this one off. i think in the commercial break i asked the panel, did anybody think she's really going to run. i didn't see any hands go up. is this serious? you think she's really thinking about it? >> i don't know if she's thinking about it or not. i don't think she would be very successful if she did jump into the race. she's not where the zeitgeist of the democratic party is. it's to the left of even where it was in 2016 where a socialist almost knocked her off. i just don't think -- they have a lot more options now on that stage, all of whom are basically running far to the left of where hillary is. even joe biden is conceding to that zeitgeist in the democratic party. so i just don't see her as a viable candidate. connell: very good use of zeitgeist. >> twice. >> the ghost of elections past coming out. despite what reince said, she's looking at the field and seeing everything that we are seeing also on this side of the cameras. she's seeing a very weak field to go against president trump.
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i don't think she gets in because there's only two options and neither are good. she will get a bump in the polls if she announces but then will have to spend every waking hour in iowa and new hampshire to compete. i don't think she wants to do that. i don't think she's ready to do that. or she plays the delegate game which without super delegates having as much power as they once did, i don't think that option's available to her. >> we do stories like this all the time. there's always some candidate that everybody is -- >> tom steyer. and he flopped. connell: i saw somebody tweeted yesterday, i thought it was funny, there's this dream that a billionaire centrist will get in so if it's not howard schultz, it's the ceo of dick's sporting goods. you think there's another candidate out there we don't know about yet? >> so hillary is a powerful force in the democratic party. still. she's a major significant force. the numbers are showing several candidates doing quite well against trump in a general election. she may be looking at that and saying that could be me. on the other hand, she's lost
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twice. the democratic party partly blames her for the fact that trump got elected. connell: if you talk to democrats, even on camera but off camera, they mostly said she was a bad candidate. that's why trump won. that's what many people say today, right? >> there are a lot of very compelling women candidates in the lineup for the democratic nomination. she would have a lot of head winds. connell: that's a kind word. i don't see it happening. but again, it comes up over and over again. let's talk about joe biden for a moment. he went out to scranton, loves going to scranton, was born there, and talks about his own plans, but also, had to defend his own record after going after president trump over policies and tweets. here's the former vice president. >> if donald trump inherited a strong economy from barack and me, things were beginning to really move. and just like everything else he's inherited, he's in the midst of squandering it. connell: i sense you disagree. >> this is the idea of timing, of how the economy was doing
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when president trump took over, whether he had what he had to do with it, how it's doing now. i think this is an overall bad strategy for joe biden. i almost think his advisers wouldn't want this. connell: to make it about the economy. >> if you want to make the 2020 election about the economy and start comparing the trump numbers versus the obama numbers or even worse for joe biden, maybe going back, looking at his record in the senate when he was supporting nafta, the things that actually elected donald trump, joe biden has been on the wrong side. he also came out and said china's not our problem. it's probably the same speech. you know, there's no geopolitical or economic argument to even validate that. that should concern -- connell: that's an interesting point. it will be interesting to see how the democratic nominee, if it's biden especially, how they kind of handle it the next election because as we know, as we learned the last time around, it's really about states, not about an overall vote. if you are in pennsylvania, say, or if you go to wisconsin or to michigan, do the democrats have an economic argument to make in those states, especially if the china trade war continues, or is joe right, they should stay away from it, probably make it about
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personality? >> if you compare the trump economic numbers to the obama era economic numbers, the obama era fares very well. connell: coming back out of '08. >> oh, my gosh. connell: you're coming out of the ditch, digging out. >> you came out of a ditch. there were days, i was washington bureau chief during that time, you wondered whether the lights were going to come on. it came out of the ditch because of economic policies that were successful on the part of the obama administration and economic growth began in 2009 and job creation began -- connell: the polls show the president has a pretty good argument there, that tax cuts worked, deregulation. if you look at every issue, he struggles on a number of issues in the polls. not on the economy relative to the other issues. >> that's right. you can go at this one or two ways. you can also say the tax cut resulted in what we have now which is a trillion dollar deficit, budget deficit which is something the republicans used to rail against. [ speaking simultaneously ]
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>> on the other hand, on the other hand, the economy is doing well. that is what the voters are going to be thinking about in pennsylvania, ohio, florida. they are going to be thinking the economy's doing well, they are going to credit the administration over the economy doing well. >> you are someone who is following the markets every day, in tune to it. you are going to ask a voter in ohio just to simply go look at your 401(k), is it better now under president trump or better under president obama. that's how voters will vote. regardless of what we say around tables like this. >> i think that's right. >> and unemployment which is really important in exactly those blue states. unemployment is at historic lows. especially for women, actually, since 1965 -- connell: overall, whereas in some states you can nit-pick, i guess that was my question, to you some of the manufacturing numbers, manufacturing for example, has slowed down. the data shows it. that's where people might be getting hurt. trump supporters in those key states. i wonder if there is an economic
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argument to be made there. joe says no. john says maybe. >> look, you know, who gets credit for the good economy, is it the person who set policies in motion, the guy in the office now? it's the guy in office now. connell: it's a macro rather than the micro. people's big picture, they say strong economy, we are doing pretty well. >> yes. it's a good story. >> especially if the china deal does happen, if usmca does get ratified. these are big ifs. you look at some of the other cable networks they are struggling to find that same soybean farmer time in and time out to do the same interview every night. connell: i have been to iowa to do those stories also, and very good point, because that in the election will be one of the stories, is that a lot of people assumed wrongly, by the way, that the farming community -- >> polling shows tremendous support. connell: would have given up on the president. in many cases, a lot of this is anecdotal but i've seen it in reporting, that's not the truth. they have been loyal, in other words. >> right. in part because of billions of dollars of taxpayer subsidies.
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connell: bailouts. let's wrap that up for now and go back to microsoft, at least for a moment. it had the big pop in profits that was reported last night. is it running out of room to rally, though? microsoft up 2%. we'll be right back.
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connell: let's get back to microsoft. we showed the stock a moment ago up 2%. kind of eyeing a record high, i believe. the earnings beat virtually all metrics. but does it have room as a stock to move much higher? "making money" host charles payne joins us. i did the numbers last night. wow, that's a great suit. wish i had thought of that. i'm surprised, it popped up on the screen. that is great. best dresser in the building. not even close. cavuto's not watching. i was distracted. anyway, doing the numbers last night, maybe you disagree, but unless i missed something, everything was great. the stock didn't really take off. maybe that's a sign that little
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sole the news. what did you think of microsoft? charles: i think you're right in terms of this stock has had an amazing not one year, two year, three year, four year, but it's had a multi-year run, out of this world. they are doing extraordinarily well. they are hitting on all cylinders. and it's just one of those stocks that's going to be tougher to get those big multi 5%, 6%, 7% movts. it's one of those stocks you feel comfortable at night having in your portfolio. i anticipate more wall street firms over the next 24 to 48 hours, trading days at least, we will start to upgrade the stock or at least increase their share price target. that could give is more oomph as well. this is just a great name. you got to keep it in your portfolio. it's doing extraordinarily well in cloud and it's just become an innovation machine which it had lagged for over a decade. connell: i heard someone talking later, probably varney, varney a big microsoft guy, talking about the stocks as well. it used to be it got boring for awhile and it was just debating
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whether it was value or growth and the argument here is it's back to being a growth company. how do you view microsoft? charles: i still see this as a growth company but it's one of these things that's not extraordinarily expensive by any measure. i always tell people to chase fundamentals, don't worry, you know, the argument over whether or not hey, the stock is already up, should i buy it. it depends. you're not chasing a share price, per se. if you are chasing the underlying fundamentals, in this case fundamentals that continue to improve, the upside for this cloud business and their other businesses, other initiatives, is just absolutely huge. connell: speaking of cloud, by the way, you looking forward to amazon tonight? we'll have that, obviously. charles: one thing i'm going to point out to viewers, the last four times they reported, a week later the stock was down 6.6%, .6%, and 5.6%. in other words, the risk has been to the downside in the week after they have reported. but the stock has pulled back some from that 2,000 level. we got pretty high share price
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levels there. by the way, they have to show they can keep up with microsoft. for awhile they were the only game in town on the cloud side. connell: so true. aws. we'll have that after the bell. see you at the top of the hour. i think it's a washington nationals suit. that's what charles is going for there. he's going for -- up two games to none. that's my way of saying i'm going to the world series tomorrow in washington. here's a scary sign. holiday sales, signs are up before halloween even hits us. retailers are spooked. ♪
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connell: how about this one. the workers are investing more
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in their jobs and now they are calling for more investment in them. grady trimble putting it all together, has the details on a new survey out from gallup. tell us about it. reporter: well, unemployment numbers indicate just about every american who wants a job right now, has one, but the authors of this new gallup survey would contest that not everybody has the job that they want. in fact, if you look at the numbers, most of the people surveyed say their job is mediocre or just plain bad. fewer than half of the people surveyed say they actually have a good job. the survey also found money matters. this probably doesn't come as a surprise to you, but higher earners, people who make more than $140,000 a year, are much more likely to say they have a good job. only 28% of lower income respondents say the same. lower income referring to people who make less than 24 grand a year. interestingly, millenials don't seem too happy at work. only a quarter of young adults 18 to 24 report having a good job, while nearly half of people
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in their upper 60s say they like theirs. when you look at the important job qualities for middle income earners, the top thing they say that's important is stable pay, but they also look for job security and this is interesting, that they enjoy the work that they do. obviously that's important and the people who did this survey make the case that, you know, we look at unemployment figures, we look at gdp, but that's not enough to tell if people are happy in their job. you need to look at these qualities as well to tell if people really like the work that they're doing and retention right now is a big thing. can employers keep the people that they have. so maybe they should look at these numbers when they're making those hirings. connell: especially this job market, it's interesting. grady, thank you, sir. i think borelli thinks people will complain no matter what, even in a strong economy. >> i think the default around america anywhere is that people are grumpy at work. anyone who has met a millenial in the workplace -- connell: here we go. >> -- just know this kind of self-important generation is sort of upset at the stage they
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are in whatever workplace they're at. connell: not always. >> no, no. he doesn't want to grease up his boots, that's a guy or gal you keep. connell: there's plenty of millenials even on this show, on the staff. with the exception of ralph, most of them work very, very hard. pineapple! what do we think, you take anything away from that age breakdown there? >> age breakdown, people in their upper 60s tend to be happier with life generally. as surveys have shown. probably they are kind of happier with work. look, there's always a bit of grumpiness in the workplace, that's probably what makes this such a vital and thriving economy, is that people aspire to something better and aspire to something more, which is really good. there's ambition in that economy. on the other hand, coming out of the crisis of 2008-2009, jobs were scarce, you probably still have a lot of millenials feeling that they haven't been able to
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get traction the way that they thought in their careers, and a lot of the jobs even though we have very low unemployment, many of those jobs are lower paying than they had in the past, automation has taken its toll, so you are probably seeing a bit of that sentiment working through these new mexicumbers a. connell: all these things, you have younger people as well, to all of john's points, they have had issues coming out of 2008 but i don't know if maybe it's cultural or because of those issues, also it seems like they are more open to moving around in their jobs than years ago. maybe that leads to some of the, you know, jumpiness we saw, where i'm always looking for something else. what do you think? >> i think it's cultural and economic. we are seeing the rise of the gig economy, there's less stress but it also brings major opportunities, actually, especially for mothers and mothers who want to balance family and home life. they have a lot of women working now in the gig economy in a way that they wouldn't have had the opportunity to before, because they were primarily taking care of their families.
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i think, i have to defend my generation a little bit here. look, i think it's good that people aspire to more. i mean, steinbeck called us a nation of temporarily embarrassed millionaires. he meant it as an insult. he was a socialist. but it's fantastic about america that everybody is always striving for something better. this is the economy if you're doing that, that you want to be doing it in. you want to have these really, really low unemployment numbers where you have a lot of employers who have to put something on the table to attract and keep employees. that's a good economy to be dissatisfied in, if you are going to be dissatisfied. connell: good point. always looking for people. let's talk about walmart for a moment. i mentioned christmas. what about christmas in october? walmart kicking off its holiday shopping deals online tomorrow. tomorrow. so this, it seems like we have been doing these stories for years. oh, boy, when are we going -- does that tell us anything, they start this early now, tell us anything about retail? what do you think? >> you're right, it always seems to start a little bit earlier every year and maybe that's just
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kind of the nature of this particular ecosystem. this year, the calendar breaks in such a way that there are fewer shopping days before christmas, so you are seeing retailers compensate for that by starting a bit earlier but also, look, the consumer, two-thirds of the u.s. economy is consumption-based. the u.s. consumer drives that. those numbers have been kind of, you know, up but also slowing a bit over the last several months. so the retailers may be anticipating what is basically still a healthy consumer making sure that they stay healthy right through the selling season so they are starting early. connell: what do you think about retail? >> look, i'm against all of this early christmas stuff. you said it, we do this story every single year. it's bumping back further and further. then there is always grumbling about seeing santa claus before halloween, before thanksgiving which deserves its own, you know, attention, i feel like. always gets overshadowed. look, the consumer index has
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been dropping, consumer confidence index has been dropping the last couple months from highs i think during the summer, so whether or not that picks up, whether people start to kick off their christmas shopping before halloween, i don't know. i'm culturally against it. i don't believe we should be buying christmas presents before halloween. culturally, i dissent from this. connell: everybody is wondering what joe borelli thought of this. instead i want to get this news from former president carter. the 95-year-old former president of the united states has been released from the hospital. we just learned this. he fell and fractured his pelvis so a spokesperson for president carter says he's looking forward to continuing to recuperate at home. of course, home for president carter is plains, georgia. he thanks everyone for their kind and well wishes. president jimmy carter just released from the hospital. 95 years old. all right. more to come. markets take another downturn here. we are down by 90 points on the dow, been fluctuating a little. we were down triple digits when vice president pence was speaking about china, came back, now we're down close to that amount again as the earnings
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have been mixed today. we'll be right back. does your broker offer more than just free trades? fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. there are zero reasons to invest anywhere else. i get it all the time. "have you lost weight?" of course i have- ever since i started renting from national. . . if you have medicare, listen up.
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connell: alert on new home sales in the united states falling. prices have been falling. lowest level since 2017. just a quick update on housing, which a lot of people have been talking about, interest rates as low as they are. new home sales went down. market going down as well. percentagewise, .3 of 1% on the dow. 86 point drop right now. some earnings cale out were strong. not so strong. charles pick up on that. see you "after the bell" how amazon does. join melissa and me, 4:00 p.m. eastern time. that will be one of the big stories. summarize all the day's news. how does sampson do after the bell? -- amazon. it comes out after 4:00.
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probably trading for the market tomorrow. especially what it says on cloud services. thanks for joining us on cavuto coast to coast. i'm connell mcshane filling in for neil cavuto. here is charles payne. charles: i'm charles payne. this is "making money." most companies are beating on earnings. big behemoths are doing well. all-time highs for market remain elusive. maybe that does change with amazon reporting after the bell vice president pence troubles down on harsh criticism of china both sides getting louder on breaking up tech. almighty american consumer are spending. bringing and mortar malls are suffering andhr


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