tv Bulls Bears FOX News August 12, 2017 7:00am-7:30am PDT
>> looking good. see you tomorrow, everyone. >> it is a very bad situation, it's a very teenagers situation and it will not continue, that i can tell you. dagen: tensions rising but stocks stabilizing, snapping a three-day losing streak on friday as the turmoil with north korea puts wall street and main street on edge. to what does it mean for your money and our economy? hi, everybody, i'm dagen mcdowell, this is bulls and bears, the bulls and bears this week, gary smith, john along with morgan ortegus and capri. john f tensions flair up should
we be worried about markets and economy that would potentially get knocked down? >> yes, we should. simply the markets, in april baron did excellent analysis of conflicts since 1980, conflicts of day one, once military conflict got involved. it's telling what's going on. it started with grenada, panamá and later libya. the month leading up to, the market is down and the six months after, if military action is involved, six months, first day of bombing, the market is up 7.2% as compared to average and the market what it's doing is uncertainty before something that happens. you cannot have anymore uncertainty right now. you have a guy in north korea who is an absolute loose cannon with a nuclear threatening to bomb guam, whatever that is we
will see turmoil. dagen: gary, b., do you think you'll see that in the coming weeks and months of uncertainty, potential selloff in the market? >> well, i think is john is right i don't think grenada is not similar, they didn't have nuclear weapons as extensively north korea does. the better parallels is the cuban missile crisis, but even then that lasted about two weeks before anyone on this panel was even before but i was in grade school and the market went down about 5%, 5%, that's not much. now the market is only down about 1% or so, in fact, as you mention it, leveled out on friday but here is the thing, after that was resolved, the market was up in the next four years, 75%, it nearly doubled in the next four years. look, if there are missiles fired, all bets are off.
who knows what's going to happen. but if there are not and the chances that this will get resolved one way or another, it probably at the end of this which will probably last no more than a week or so, i'm still bull you shall on the market. despite the selloff after the markets reopened, 684 points in the first day of trading, the dow was back to where it was before the 9/11 terror attacks but early november of that year. our economy came out of a recession in november of that year, so, again, there is always resill -- reciliency. i think you can attribute to words and action. 20,000, i think that investors were likely looking for a reason to selloff and certainly the rhetoric gave them that reason, the bigger fear for the market is not actually what's going on
between the u.s. and north korea but instead what happens in congress, i think if congress can't get tax reform through and get can't obamacare through, i think that's going to hurt the markets much more than the short-term geopolitical tension that we are seeing around the world. dagen: rising of a mishap of not raising the debt ceiling. talk about north korea, you're trying to place bets or make investments based on the wildly unpredictable behavior of kim jong un, a madman. >> well, i don't think the stock market, the stock market is a great mechanism for what's going on discounting the future, measuring recession and interest rates and i don't think it factors in doomsday scenarios. i didn't in the cuban missile, that was a lot, a whole other level than north korea. ic personally and maybe the market thinks this is world war ii army could beat north korea
pretty clearly even with a couple of nukes that aren't accurate. at the end of the day, you can't discount a doomsday scenario situation like when you get to war. when you get life insurance they don't get priced that you get hit by meteor, there's other things that are relevant. it's going to keep going on and get more technology and then they will have accident, it's going to be the kind of mishaps that almost happened with us in the soviet union many times, computer glitches, start a war by accident, this is not a regime that has act together like the soviet union did. we have to deal with that at some point. dagen: capri the backdrop at least as we deal with this growing threat from north korea is an economy that looks stable with unemployment incredibly low at multiyear low and more than a million jobs created since president trump took office?
>> well, i think we do node thoo put this entire thing into context, there's no question that there is a level of volatility and uncertainty within the market right now because of the obvious concerns surrounding north korea and nuclear capabilities, at the same time, we found ourselves the in all-time high, 22,000 on the dow, at one point, what goes up must come down a little bit and there's going to be a course correction, what we are seeing right now is a little bit of the fact that we were hiding historic skews and it was going to come back down regardless of what was going on in north korea, that north korea circumstance did add to volatility, the volatility index is, i think, at the highest at least since may, for example, and we are seeing some volatility and some downward spiral in the market not just in the dow but the ftse 100 out in britain, down roughly a hundred or so points. so, you know, i think that we all need to take a deep breath
as was said, nothing is prepared for doomsday scenario, but i think this is something that -- a bit of a course correction right now and things are going to be stabilized. dagen: gary b., perfect world, a democratic lawmaker talking about index. >> i did check out, it does pay out if i hit with a meteor and asteroid, i have to correct on that, if it wasn't north korea it would be something else. that said, this is kind of a situation that no one really has experience, we have been through
the gulf war and been through all of that other than going back to the cuban missile crisis, we've never had a dictator say, hey, i might nuke us, even cuba wasn't going to nuke us, they didn't have that technology. this is a dangerous situation, personally with at least part of my portfolio i'm on the sidelines. i'm more of a trader. dagen: john, i want to ask you before we go, give you the final word on this, what about the cost of us, the u.s. not acting and taking a tough stance against this -- this rising nuclear threat. >> we are going to have to do that sooner or later and might as well be now because this guy -- the nuclear armaments and potentially could sell to get money.
when world war ii veterans could defeat this guy, world war ii veterans, 80 year's old can bet this guy, their military is absolutely zero match for us, the only wild car are the nuclear weapons and at some point we have to address this. >> and potentially maybe a trade war with china, that was certainly part of the economic. thank you guys and gals. kennedy is filling in for neil, kennedy, what do you have? kennedy: fire, fury, many condemning message to kim jong un but someone hearsays they are scolding the wrong leader and if his party can't get things done, the party may reach across the aisle to cut taxes but would the deal with democrats backtrack on taxpayers. dagen: thank you, girl. one gop lawmaker crying foul
after protestors show up at his home, they did go too far. >> this is a partisan attempt to hijack quite frankly a meeting, my home. at some point, somebody has to stand up and say enough. usaa to me means peace of mind. we had a power outage for five days total. we lost a lot of food. we actually filed a claim with usaa to replace that spoiled food. and we really appreciated that we're the webber family and we are usaa members for life.
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>> live from america's news headquarters in washington. i'm elizabeth, good saturday morning, president trump and chinese president xi jinping have spoken over the firm. the white house confirms that both discus making the korean peninsula free of nuclear weapons, president xi called on u.s. and north korea tone down rhetoric and avoid action that is could increase tensions. the judge ruling that the radio host failed to prove the singer personally set out to have him fired, however the judge is
allowing suit against mother. i'm elizabeth prann in washington, now back to bulls and bears. dagen: protestors hitting a little too close to home for minnesota republican congressman jason lewis because they were literally at his home. he says that is way out of bounds but the group behind it says it is necessary because he will not hold town halls, gary, you think this went too far? >> absolutely. look, i think this is a slam dunk in the video the people are on his porch for crying out loud. if i'm the guy, i'm barricading myself in the house because you know what happens if he steps outside, someone throws a brick
at him or hits him over the head, it's a dangerous situation. as much as we malign senators and congressmen, my god, this guy is in a tough spot. are people allow today protest, they have to find a middle ground other than coming on to the man's property where they should all be arrested. dagen: morgan, way too far because the first amendment covers the freedom of speech but not on someone's private property? >> right, it's not just the congressman and his family that they were disturbing is his innocent neighbors, they are in a neighbor. most people probably watching this that are on the panel will think it's out of line but it is sort dangerous when you look at the fact that there was a livestream of sean spicer's house whenever he resigned as press secretary. i know sean well, he has two small children. of course, we know what happened at the baseball field. members of congress, members of the senate, they don't go around with security and so, you know,
maybe he didn't have anything to be worried about but how do you know, this time is an elderly person, how do you know who it is next time. it's clearly out of loin and the organizer of the protest said she would do it again, democrat leaders need to come out and say, hands off, we are not going in people's porches, there needs to be a line of common decency. >> can i jump in here, i may be the only person that has actually held office on the panel right now, part of being a public certify vapts means you are just that, you're on duty 24/7. i certainly feel for the member of congress and you have -- he has an argument people trespassing on property. i was in office for ten years, i was followed into the ladies room, i've been stopped at the gas station, i've been stopped at the grocery store. i've been talked to at the gym. there's no bounds that folks have and frankly these people are our boss and if you ran into your boss at the grocery store you wouldn't, you know, ignore them, you would have to talk to them.
>> there's a big difference -- >> there's a big difference between that and somebody come to your lawn, i don't dispute that, however, when you're a public servants these are some of the risks you take on. dagen: at what point do we put a stop to this and stop putting people's lives at risk potentially because somebody is upset about medicaid cuts that haven't even been passed. >> i'm not sure that gives you anymore inside into this than just observing and approval rating of public office i'm not sure i would be bragging about it either. the problem that you have with these guys, the freedom of speech and not freedom of responsibility from that speech. what happened to the softball field is atrocious and disaster, this is a disgrace for these people. there's no reason, even with low approval rating to be in fear of their lives or fear of their
family lives because it's not just these people but there are a lot of mentally instable people and you start putting houses online. >> i've had people show up at my office, it happens. >> who cares if they did that? >> just because it happened it doesn't make it right. >> it's a risk you take when you take the oath of office. >> no, you don't take a risk of people coming to your property. there's a line. >> your address is public record. dagen: did these people cross the line? >> the last show we talked about the long vacation after watching the video does not seem to appealing to me anymore. i don't even like it when the pap razzy is staking out paris hilton's house, i think it's out of line. you definitely earn more public scrutiny when you are voting on things that are important to people and haven't worked out what plan b but that can be done in public wherever you vote, it
doesn't have to be at a house. again, it's like the pop razzy can follow paris hilton to the club but don't go to her house. dagen: it violates somebody's rights, thanks guys and gals, trish regan hosting cashing in. trish, what do you have going on. trish: hey, dagen, does the white house have any hope of stopping north korea if it doesn't stop the leaks? and new york city's subway crumbling, its liberal mayor wants to raise taxes, someone here said how about just cutting spending. cashin 'in. dagen: online giant step to go world domination could give consumers a step up
dagen: look out ticketmaster you may be amazon's latest target. the giant is in talks to tap into the u.s. ticketing market. morgan, you say this would be great for consumers. >> yeah, i think this is the fundamentals of capitalism, whenever you have diversity of choices for the consumer, ends up with lower prices, better options for the consumer and better options for, you know, around. amazon is going to have to deal with the venue owners and try to make this actual work but if they are able to, it's clearly going to lower the prices that consumers pay, it's a win-win.
dagen: jonas is this a win for anybody who loves live muis snick. >> all this tech development has been beneficial to the consumer which is why the government has stayed out of it. i worry about tech, five tech companies want everything, is all consumption going to be amazon. what are they going to do with all that power? i worry about what that's going towards. dagen: gary b, is this good news? >> yeah, i think it's great news. the bigger point that jonas brings up the fear of technology taking over but what's monopoly these days with netscape, was dell a monopoly, exxon in a monopoly, ebay is a monopoly. you can get your power to your house other than from your local utility, there are no monopolies anymore. it's just too difficult in this
age, i think it's great for amazon but don't be competition out there if it doesn't work. dagen: capri. >> ticketmaster is domination for tickets including europe, i'm a music chick,i say bring it on, go ahead, amazon, we want lower prices. dagen: john, final word to you. >> always a great show when john gets called, long way to being a monopoly. gary b is right, it'll be great for consumers. dagen: jonas does have his purple set samsung phone. [laughter] dagen: thank you, guys, morgan and capri specially for joining us. the rocky markets got you worried? fear not, our guys have picks to get you through unstable times statins lower cholesterol,
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go. >> when the world was about to implode, you know what i was doing i was watching ozark on netflix. 250% in the next five years. dagen: you look like a house of cards, john, do you like it? >> i love house of cards, i love the company netflix, i'm worried about the stock because so much competition coming online. dagen: john your prediction? >> chevron, i think it's going to continue and benefit the may majors, i own it. 20%. dagen: what do you think? >> i liked it when it was standard oil monopoly. dagen: what about your prediction? >> long-term u.s. government bonds in portfolio, tlt will do that. dagen: gary b., what do you think? >> a snoozy funny, the stock was at the same level in 2013.
get something else, anything else. doomsday hasn't happened yesterday. dagen: john, final word? >> boring pick i've ever heard in predictions, congratulations. [laughter] dagen: love you guys, kennedy is now. >> north korea best not make any more threats to the united states, they will be met with fire and fury like the world has never seen. he does anything with respect to guam or any place else that's an american territory or an american ally, he will truly regret it and he will regret it fast. kennedy: doubling down, tough reception from lawmakers and media was it diplomatic talk that got us into this giant mess? hello, everyone, i'm kennedy in