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tv   Mornings With Maria Bartiromo  FOX Business  September 15, 2015 6:00am-9:01am EDT

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it has restarted all bonfield plans and that is ready to use nuclear weapons at any time. this coming after north korea threatened to launch multiple satellites among luxury markets. the alleged shooter is dead. please confirm and shannon lamb died from a self inflict gunshot wound. when the success that dead of killing the woman who the woman who lived with ana delta professor yesterday. wildfires burning in devastating communities. if i are forcing the evacuation of thousands of people. one person killed. as of late yesterday the valley of fire was only 5% can change. investors waiting for the federal reserve decision this week at the meeting begins tomorrow. wednesday and thursday will know if the fed increases for the first time since. the dow industrial expected to open down 43 points in the
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nasdaq composite expected to see weakness to the tune of 10 and a half. the retail sales number into a half hours. a mixed session of stocks in china hit hard. shanghai composite hosting 3.5%. in europe the major averages lower this morning. down about 35 points biggest cac flat on the session and germany's dax down about 11 points. first week of the nfl season coming to a close. falcons beating the eagles and the debut for the new head coach. the san francisco 49ers outplayed the minnesota vikings. verse game back since brady's suspension last year. arnold schwarzenegger named new apprentice. already practicing his plans for the show. watch this. >> i could not wait to say you're fired. or your terminated.
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or you won't be back. maria: will have all of those coming back. two big names in the presidential race taking several appearances, both keeping them at the middle class would be a key and critical part to any electoral success. focusing on the economic plan, bernie sanders railing against 1% in virginia. >> we are the wealthiest nation in the history of the world. but very few people know that. and very few people feel that because almost all of that wealth and income is going into the hands of the 1%. maria: donald trump setting the stage for a policy announcement coming soon. >> to middle income in this country is being decimated and we are going to change it.
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so i will be announcing over the next three or so weeks, i'll be announcing the great tax plan. i know the tax code and everything about it as well as anybody. maria: joining me now is ronald reagan's campaign direct your along with alan penick in. thank you for joining us. what are your thoughts on the comments about the money in this country going to 1%? >> he's a socialist. he's made no pretense that he's a socialist. what astonishes me as he does extremely well with the democratic party. it's amazing. there is a dysfunction going on. i've never seen any cycle like this. the george wallace era, ross perot era, this is totally different. seven out of 10 americans today don't want someone in government. they think it doesn't work has
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had the best team ever running for president totally been dismissed. maria: which is why donald trump is resonating. the middle has been decimated. >> to a certain extent there's a lot of truth to that. the solution to take more money from the top income earners who create jobs and do other things are basically have a lot of rhetoric. so far trump is that redrick and lucy the greatest text and history and we will get along with the greatest bankruptcy plan in history which has been an accounting mechanism. my sense is there's a long ways to go but he certainly has momentum is making it difficult for serious people like bush and others at the numbers have dropped dramatically. carson and his numbers have risen dramatically. maria: will see what happens in the next debate. how do you see it? >> getting almost exactly the
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same message for his socially sanders in the blowhard reactionary trump, both of them pretend to speak for the middle class and say we've got to do something to pull down people at the very top who are hoarding all the resources. same message from exactly opposite sides of the political spectrum. i do remember a case like that. maria: hillary clinton putting on a softer side. what is your take on what's happening the downside? >> clearly hillary is struggling. to everyone's surprise. sanders did much better than anybody did and then he thought the question of biden living in the background. he's got to be watching sanders in watching sanders in hillary's issues come assertion is a soul and family issues. everyday that passes, i am convinced more that joe biden really might actually do this. maria: what do you think? >> i think he will eventually.
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there is dissatisfaction when hillary campaign was sort of a lot early on thought she was not an inevitable nominee but president. she's certainly going to be tough to beat for the nomination. he will basically get in it before it's all said and done. >> i don't think he will peter. she's going to be very tough to beat. and the democratic primary, unless there's something, otherwise he's going to get it. maria: wow, interesting. then they get the business guys opinion on this. have you heard in economic plan that would resonate with investors with markets that stands out so far? >> no, we haven't had a plan yet on the maria. right now is trump and sanders has led to more insurgency about
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how the election will go. six months ago most people thought it was a middle-of-the-road republican versus hillary. now frankly there is a lot of uncertainty as to where the election is heading. >> i think first we have to wait to see about the great tax plan out of trump. the rhetoric so far has been like more big government by and large. government will solve this and that. certain elements obviously reducing corporate taxes. raw support for that across the aisle. i like to see a return to some questioning of the size of government because government is overblown. i think hillary will be a slow. there's a limit to how much government can do. government spending is not to be on one hand. on the other hand it's not the
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solution to this 1% issue. maria: bernie sanders is talking about trillions of dollars in spending to solve the problems. what can this candidate still in the next debate to stand out? >> my sense is they will take a shot at him and expect to get punched back and kicked if you do. the three or four serious candidates and that's all it's that's all it's really less today need to stand up by offering solutions. your five minutes maximum and you need to make a favorable impression. both walker and bush last time disappeared on the screen. walker is not diminish candidate on life support. bush is basically has money trying up. he's got super pac money but the billionaires who are friendly with are not anxious and excited as i was before. jo: look what happened to his campaign structure. it's so early in a lot of
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candidates we haven't touched on who i really kind of bringing a little bit more to the debate. maria: good point. that's all we really need to watch. thank you for coming in early. ellis, same idea you. we appreciate it. back to wall street where we await the u.s. consumer. retail sales out and about two and a half hours. economists expecting a massive pretense of a percent compared to a jump of six tenths of a percent in july. we're one day away from the two-day policy meeting waiting to see whether the central bank will raise rates since the start of financial crisis 2006. are they stronger retail sales number moved to needle or do you think they know what they are going to do it once and thursday? >> i think we are going to get stronger retail sales. we really have a lot despite the uncertainty in the market. the u.s. economy is in pretty good shape.
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this has been one long gradual expansion. it is chugging along which is good news and bad news for investors in a lot of ways. with unemployment low in some wage growth, confidence is good. low gas prices than i would expect the retail sale. maria: we have not seen the consumer breakout in any meaningful way, even though fred is right on the money in terms of low gas prices. what are you expecting? >> retail sales will be solid. we've also got production on the weak side. i think it will be another mixed bag day for the fed with the domestic side is okay. the industrial side not read it all. china's following down. bernanke did a wonderful talk last week a new dork and he was
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really stressing the asymmetric risk of hiking off at these levels. rosencrantz two weeks ago thought about low inflation rates not in their targets. you've got the contraction caused by china. we've been saying the fed will move in september. we've really backed off of that less than 20%. >> that is because it is not kept to >> the inflation data is not there and you have an effect of tightening by the widening gone on >> two commodities that economies are two economies late commodities? the entire commodities complex is broken down. not just oil, copper, iron ore,
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doesn't signal to sa problem on the industrial side of the economy? jo: there are clues there for that. but that does not move now, will it in a few months have more information is more useful especially in the china story. it is unclear what the chinese government grappling with the issue and making some moves in all directions. hysteria clear and hard to interpret. maria: it could be a bigger problem than if they do raise. because it will basically say to the market things are a lot worse than we thought. >> that's what i would like to get this behind us. if we can bear 25 basis points was that a real problem. but this is the rest of the world's pressure. the rest of the world is lobbying don't raise, don't raise. maria: so as the imf, so as the world bank. >> everybody's under pressure to make for easy money.
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good for the stock market, by the way in my opinion. but i personally would like a weaker dollar. it's better for longer-term gdp growth. so there is a balance. maria: the billionaire set to announce big plans for space flights this afternoon. we have the details. we are topping "the wall street journal" but gm and the uaw to extend the contracts of continued her good name. we will be right back. ♪ can a business have a mind?
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maria: welcome back from a break-in is on the fatal shooting that mississippi delta state university. cheryl casone with the latest headlines. reporter: a man accused of killing his girlfriend and university professor of mississippi is now dead. the 45 girl shannon lamb jumped out of his car, took off into the woods and shot himself last night. we don't know why he allegedly killed the women he was living within a history professor at delta's date, but a love triangle as a possible reason for the shooting. north korea declaring a full restart atomic bomb production plans one day after the country plans to launch long-range rockets as early as next month. finally, deutsche bank planning to cut a quarter of 23,000 workers mostly in technology and also spinoff their 8000 jobs through layoffs under
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americanization by the chief big thank you to who took control in july with a promise of cutting costs a spokesman for the bank declined to comment. maria, back to you. maria: wing of the financial service sector has been cutting come of you not think this is as bad as it looks? >> the house and is not lost jobs. europe to us looks like it going along in a usual fashion solid, slow growth and you've got drunk he basically doing whatever it takes to keep it going. europe is not the issue here for the world market here. maria: do you agree this is separate and apart from the pressure from the regulatory environment? >> idea. i also think part of it is what we were talking about earlier which is central banks have made
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money very cheap and the results is low interest rates and poor spreads. 100 basis points increase from the fed would make a big difference to financial services because they would need on a spread basis. maria: would make a big difference to savers as well. >> to change the way people are spending money which should be great for retail sales. maria: coming up, the rams and the seattle seahawks sunday. using new technology to bridge the gap training millennial players and old-school coaches. we've got the details are not. back in a moment.
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maria: welcome back, check in energy prices below $25 a barrel at 4430. by two thirds 1%. though funds in a bind chicago. good morning to you. reporter: good morning. oil prices going up despite the fact we are concerned about demand in china and production in the united states. we had a report from the private forecaster process applies an oklahoma style last week or 1.8 million barrels. what that means is a u.s. production is not only falling, and maybe cratering. we've seen supplies an oklahoma fall five out of the last seven weeks and even though it imports have kept u.s. inventories high, concerned about oklahoma meets u.s. producers are thrown in the top get back to you. maria: thank you so much. talking about u.s. energy holding steady despite plunging oil prices. the journal reported oil companies are bracing for
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director named. monday about a piece in "usa today" very similar today saying after years of borrowing and spending to easy credit is dry now. are they going to have to redo credit facilities and disheartening or bankruptcy in the area as prices go down? >> they are waiting for a miracle to rise back to get it back in business and you don't see that happening with the oversupply and weaker demand from china. from the financial market perspective, they are trading at 30 cents on the dollar, 40 cents on the dollar. that is not going to add jobs to the economy. maria: if you look for the job creation has been from 2007, not necessarily only in energy but iran manufacturing having an indirect link in energy. >> we've seen pushing up in that direction. the fact that they look at having to preserve cash and
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reallocating and repositioning their entire business is certainly a silver lining to look at how supply will change and maybe bring the price back up. certainly a lot of stress on the smaller producers. >> you just wonder if this is a point that pushes more job cuts. >> you have a very positive way of looking up to us. when the unit price of an item, commodity declines by 30%, 35%, is generally made not good. so i think these guys are huge markets quizzes and when they talk about redoing credit lines, it's a question of availability of credit. many of these companies have a longer credit worthy said they will restructure. it has to be basic consensual reworkings for bankruptcies of
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which we've had eight or nine. >> the silver lining if it takes 12 to feed its way through the broader economy. we think the silver lining is on the consumer side but benefits from lower oil prices and that is a big, big impact. there is a silver lining. maria: we will see if the silver lining materializes sooner rather than later. almost decision time for the federal reserve. wednesday and thursday meetings back in a minute. ♪ the broader averages.
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a _ sweet away cars and people, flooding tweet people and five people, for the ninth year arrow dallas cowboys' top the list of the nfl's most viable franchise. the cowboys estimated $4 billion. after that the patriots, washington redskins, new york giants and san francisco 40-niners clocking in at $47 billion in value. the federal interest-rate countdown is on, the big decision days away, we will bring in compton hunter. september rate hikes, we may very well find it this thursday. what is your expectation? >> my expectation is 50/50 whether they move but they could move. the economy is strong enough to withstand 25 basis point funds rate and some minor shocks from
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the global economy. the concern is emerging markets are in a downturn. we have the end of the commodity supercycle putting pressure on beef and not just from markets but the world bank to keep rates steady. that would be misplaced. maria: interesting you say this. during the commercial break, what markets are telling us 26% chance, 24% chance the federal reserve, and was told throughout my career that you want to read markets and markets have messages. if the market is telling us this and we have been having this debate is it such a slam-dunk that the fed should raise rates? >> that they should or that they will? it is a slam-dunk that they should. they had zero interest rates and the market fare change, if they weren't to raise this thursday in the markets would shrug it off.
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we need to telegraph that they are going to go slowly in the rate hikes. it won't be 25 basis points. maria: what is saving money for less seven years done? >> it helps confidence in the economy and stimulated risktaking because it is the only place to get returns. it supported the market and that supported confidence in the economy. i don't think it helps. it would be great forests, the earnings if we get some lift on interest rates to get to $50 basis points, all financial sector does better so i think that would be good. i agreed they can but it does depend on our scenario which is a soft landing. we think they have enough resources but there is uncertainty around that. maria: the data yesterday, the economy is under-- >> the chinese government not sure what to do, they put different measures the seem to
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work in the short term and not necessarily they may not be able to withstand the long term and turn around the growth and we have many fundamental issues tied to u.s. companies and how they may perform but what the fed does janet yellen is looking at that. >> line that is not greece. greece is a pin drop in the mediterranean. >> the real economy is not that great. corporate earnings would be hard for companies that fell into china but the feedback loops are insignificant. china, hard landing by estimating will shave 75 basis points over two years but obviously that is significant if growing at 2% but that is if they have a hard landing. it looked like they will have a bumpy -- >> hard is bad. >> the fed has rabbit ears with
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respect to the market. the fed should be making its own decisions based on its own models. they are models centric and i am getting the sense that the rest of the world has problems and a lot of domestic lobbying here saying don't raise, don't raise which is great in the investor's sector. the financial service sector not great. as we have discussed. i would love to see them be done with this and see us move on. i don't think it will happen. i don't think it will happen. maria: should investors at home or institutions be changing their behavior, their portfolios ahead of the fed meeting? >> i am sorry, we are telling people you should definitely be averageing in, 12 to 18 months, stocks will be significantly higher, 20% to 30% higher 12
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months out. won't 20% to 30% higher? >> very cautious in here telling people don't try to pick a bottom. overs the next six weeks or so we are trying to find a bond but once we get over this fed things the markets are going to look at better earnings this year trading at 14, 15 times next year's earnings, close to 12 months out. >> you think the markets were ripped then. >> significant year end rally carrying us into next year. it is up 10%, the market is down 5% for the year. this has not been a great year for stocks. if you were a stock selector or in health care and mobile technology and certain retail which is what we have been in because i don't like to play in the rest of the world, i don't want court -- foreign currency and investors, individuals in those cases want growth and i
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will play that theme but i agree with steve. i think the market has a lot of legs going forward here. if you look at the last 15 years which is a very convenient period to choose, the s&p has only increased 3.5%. markets have underperformed, the equity market has underperformed versus other profits and i think that says to me i want to invest in that underperforming asset class. maria: which undertwines what you say, fundamental backdrop is getting better but it -- >> strong consumer investment coming back and small increase in rates would help that situation. >> good to have you on the show today. tune in for live coverage and analysis of the policy meeting thursday. the fed decision on interest rates at 2:00 p.m. eastern on thursday and genteel and will take questions from the press beginning at 2:30 p.m. live right here on fox business network. the st. louis rams using new
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technology to bridge the gap between young millennial players, nicole petallides on the story joins us. nicole: that is absolutely wright. how do you absorb information when someone is trying to teach you something? st. louis rams than in the nfl world after toppling the seattle seahawks in overtime, place calls may have had something to do with the. top story in the wall street journal read how the rams build a laboratory for millennials and the article details in order to teach these young teens the rams brought in a research firm to evaluate their teaching message putting rookies through standardized tests to determine how each of them absorb information. another key to the rams' new coaching method is explaining the reasons behind each move. this is the direct result of a typical millennial characteristic of needing to know why after every action taken so i think this is interesting about how they are
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trying to teach these millennials using more visual aids. also have lowered the meeting times. they found the attention span the average age is 24, the attention span, how is your attention span? your young friends and family, they lowered media times address them out to the field to execute what they just weren't. >> my first reaction to this is it makes a lot of sense. even in the nfl focusing the millennials. >> those are the people driving of the revenue to keep this machine running and making those millions of dollars and if you look at millennials we want to know why can't we want to know the numbers behind it. big data. seems to make a lot of sense. why not have more information? make more money. >> they are waking up later too. waking couple little later instead of 5:30 in the morning. they communicate with one another through social media
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apps, instagram, snapped at. that is what they are doing. reading for hours and hours is alex. maria: thank you. start your day with nicole petallides and lauren simonetti every weekday at "fbn a.m." at 5:00 p.m. eastern before "mornings with maria". arnold is the new man, a french is, what can we expect? conan's take on a new block of the apprentice. >> you are totally, high command you leave, you're out of a running. you want to do it. all the way to the unemployment line. i will show you collateral damage. have you seen it? time to see it. (vo) what does the world run on?
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maria: connected cars may be one of the futures we will see before when you exited the future is now. >> the department of transportation picking new york city for connected, our pilot program, thousands of government cars, taxes and delivery trucks with small sensors, the goal to steady traffic patterns, pollution, prevent accidents and plug my iphone in as well. version galactic announcing plans to launch small satellites into orbit unveiling a new
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rocket designed to carry heavier payloads for a lower price than the new launcher 1 crash may one day be able to launch from atop a jumbo jet. look at those schematics on your screen. amazon ceo jeff bezos going to visit cape canaveral, fla. today, as expected to announce new plans for blue origen, his private space company to build and launch rockets from air force base. the rocket itself and the capsule all reusable but it has the competition from elon musk and space x who want to launch from the same spot. maria: elon musk has said space travel could be just a few years away. >> he is working on manned space missions to show schematics for going to the international space station. the competition is here but what is interesting, with all these private projects, blue origen, washington post, going into
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infinity in new mexico, all these projects are so moving towards innovation, it shows that spirit goes beyond amazon. >> does he have the money to do that? united states alliance, which is the main group that watches all the rockets may be bought out. jay haas will bid came out friday. that could be bad for jeff bezos. great ideas but you got to pay for these ideas. maria: thanks so much. celebrity apprentice catch phrase you are fired might be replaced by hostile loveys the. move over, donald trump, arnold schwarzenegger is the new post of the celebrity apprentice. we will have all the details when we come right back. you are terminated. >> you are fired.
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>> i cannot wait to say you are fired. or you are terminated. or you won't be back. >> arnold schwarzenegger taking over as host of celebrity apprentice with the former california governor will replace donald trump bill haas the job of his comments about immigration amid his run for the white house. joining us, isn't it interesting and immigrant takes over for donald trump did you >> it is fabulous. when it comes to successful endeavor like celebrity apprentice you never want to be the replacement, you want to be the one to replace the a placement. you don't want to be an curry,
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it is a brilliant move. he is an outside personality, he is smart, blunt, one thing people have mentioned is when terminator opened this summer, in china, that market pushes to become this huge hits, celebrity apprentice distributed in asia and overseas, it is a smart decision to nbc. maria: the chinese love brand. they love successful stories of an immigrant becoming governor who become all weightlifter, a long career. >> how many hollywood movie stars, a lot of people tuning in to see what he is going to say and what line he will use, he could literally use a different line every week, you're terminated, i will be back, it
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will be a lot of fun to watch. maria: are you going to watch it? >> i don't watch a lot of tv but it will be a very entertaining show. >> it is event television and that is what they're looking for. maria: you can't write this stuff. arnold schwarzenegger on the apprentice, he was governor and donald running for president. >> control the world, you guys control the world, it is media driven, the media world we're living in. maria: the federal reserve, you say you don't think they are going to do it in terms of raising rates but they should do it. >> they should get a distraction behind us. in many ways it is good for the economy and confidence but i don't think will happen. maria: what do you think? >> i think they will go by
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december but china settles down. this is not low gradual cycle for stocks. maria: i wonder if you could do anything in entertainment in terms of ticket sales as a read on but economy. the moviegoing public has been declining for a long time. is that an economic thing or just because we have bettered tv sets at home? >> there are so many choices between streaming and tv and digital but people will pay the price, ticket prices are more expensive now than they have ever been and paying premium prices to see in imax so there's an appetite. people will put the money down. maria: interesting you said north america. it is the international story driving the company. >> china has overtaken the north american box office for the first time in history. maria: at the time the chinese economy is slowing down is the
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story of markets. >> 4 billion people. >> the size of the economy they are trying to grow legitimately the consumer side. they will get there. maria: you said you want to be invested in equities. >> absolutely. maria: you said this would be a 20% to 30% rally in stocks. >> by the end of next year will be on the isn't the. >> speaking of weakness media stocks have gone crush. >> baby has been thrown out with the bathwater because people think whole world is going down but i agree with fred. stay out of the export-oriented industrial commodity complex but the rest of it even yield stocks have been crushed. maria: they have been crushed because people are looking for growth and that is income. >> part of your return on equity
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is is dividend and growth. maria: the yield, company to pay yields have been crushed. >> a lot of the ones with the bigger yields, johnson and johnson, a lot have a lot of international -- that is part of it. >> people expect interest rates to go normal cycle, 3.5%, 4%, that won't happen. not in this cycle. >> for the next decade or so look of the demographics with the baby boom. i don't think we will see the ten year at 4%. maria: for longer. we will leave it there. great to see you this morning, thank you so much. coming up next, presidential candidates on both sides of the aisle focusing on the economy. steve more will weigh in on that and more. oil prices holding steady for
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the first time in a couple weeks. steven short will give his take in a moment.
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maria: welcome back, i am maria bartiroma, it is september 15th. with me is keith mccullough, sandra smith, wall street journal's john buffy. top stories at 7:00 a.m. thousands of people filling an arena in dallas to listen to donald trump days ahead of the next debate pulled no punches against his rival and the media. >> take a look, everybody. do you like the media? give them a big hand. if you don't give them a big boo. i have a feeling. maria: there you go. on the democratic side bernie sanders took his message to many
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evangelical schools speaking at liberty university acknowledging differences on social issues but struck a chord when talking about income inequality. a new concern over nuclear weapons, north korea, the company saying it restarted all nuclear bomb fuel plants and it is ready to use nuclear weapons at any time this coming adapter north korea threatened to launch multiple satellites on long-range rockets. the alleged shooter in the mississippi college shooting is dead. police confirming shannon wham died from a self-inflicted gunshot, suspected of killing the woman he lives with and adults as the university professor. the motive for the shooting is under investigation. wildfires continuing out west burning and devastating communities north of san francisco. of fire forced the evacuation of thousands of people and one person has been killed. the value fire is 5% contained. to market investors wait for the federal reserve decision on thursday. retail sales rport coming out
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in an hour and a half from now. that may be the last piece of info for the fed will raise rates, two day meeting wednesday and thursday? futures turning around, looking at a higher open for the broader reverie joys, complete rivers along the last hour dow industrials opening up, the nasdaq composite, s&p 500 flat to hi ron the session. in asia, stocks were hit hard in china. the shanghai composite down 3.5%. in europe the major averages are mixed edging lower. let's look at europe and we have seen that reversal on averages, the cac quarante out 37 points, dax index in germany of 37 points, almost 1% higher, the s&p 100 in london is fractionally lower. the first week of the nfl season coming to a close, the falcons beat the philadelphia eagles, in the late game the san francisco 49ers outplayed the minnesota vikings, the final 20-3.
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the first game back since suspension last year. he is back, arnold schwarzenegger named the new post of celebrity apprentice, already practicing his lines for the show. watch this. >> i cannot wait to say you are fired. or you are terminated. or you won't be back. maria: more on that coming up. top story of the morning, top story in the wall street journal, bernie sanders proposing new programs to expand the federal government to the tune of $18 trillion. this coming as donald trump spoke last night in dallas pledging his own fiscal plan in the next couple weeks. >> the middle income in this country is being decimated and we are going to change it. we are going to change it. i will be announcing over the next three or so weeks i think a great, and i know the tax code
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as well as anybody. maria: i think he said to the network, i am the king of taxes. joining me with reaction, distinguished visiting fellow steve more. what do you think of those speeches? >> the good news is arnold schwarzenegger cannot run for president. maria: isn't it interesting that an immigrant is taking donald trump's old job. >> it really is. what is so fascinating about this race is the two leaders are economic populists. we don't know what trump's tax plan will be. i have been in contact with his campaign people, i don't anticipate too different from what bernie sanders comes out with. there is a rage on both sides of the aisle that is in this race. maria: according to the journal,
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$18 trillion. >> won't be able to come out saying i will raise taxes to fund a program as ambitious as bernie sanders, is that possible? >> i think from has said so many different things on raising taxes, he said rates are too high, he will be pretty good on the corporate side where so much of the damage is done but on the personal income tax side, week or two go he said taxes on the rich should be higher. i don't think we know what his tax plan will look like. i am a flat tax die. i want them to be as low as possible. >> is there anyone running on low taxes and lower government? >> the rest of the republican field is. as mary at nose i had a hand in paul's tax plan, jeb bush had a good tax plan. you are going to get ben carson
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by the 10% tax, on but republicans i'd trump is saying something different from almost all the other republicans. he is saying tax the rich and hired terrorists, talking about shutting down immigration. the other republicans are picking up on that theme is that is going to be fascinating, if trump falters, who picks up this kind of populist -- i was at a conference this weekend, 4,000 activists from all over the country. there was the rage and the republican congress. why aren't they stand up to obama? maria: that is to everybody is mad at. a lot of people were expecting -- they break specing stuff to get done. >> right into the hands of donald trump. >> did somebody pick up the
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populist manual? or if there is the faltering does the republican parties a now we go with our program? >> you know who is waiting in the wings in a strong position? ted cruz. csn alliance right now with trump. i think i am talking more and more activists on the republican side. maria: general election ted cruz, are people going to get over -- >> i think that is a realistic question. people are starting to ask not realistic questions before, we were talking to jim rogers, he thinks it is realistic donald trump could win it right now. >> general election or the primary? >> in the general election, but it would lead to bankruptcy and war. >> lead to bankruptcy and war. >> now that people are seeing he
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is not going away and this might be more realistic that he is the gop nominee people wondering what the future looks like. i will ask you if he is indeed the gop nominee or the president where does the economy looks like a couple years? >> i think he can win the nomination. i would not have said that six weeks ago. i think he is an incredibly skilled politician. he has a real talent for tapping into this rage and anger most republicans were ignoring. he could win the primary and if he can win the primary he can win the presidency. the problem with donald trump this doesn't take any advice. make a lot of stuff up as he goes along and so it would be i don't think -- is an overstatement to cede -- it would lead to war, and depression, that would be bernie sanders. it is amazing.
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who would have thought two months ago the front runners would not be hillary clinton and jeb bush. or any of the infrastructure. donald trump. >> in the journal none of the advisers. >> basically advising, steve wynn, free-market libertarian. the big question in my head, there's a populism to free markets, free market capitalism. the problem with ted cruz, at they are just the league's players represented a big mental. >> that is agreed point. i have done a lot of work with rand paul, he was going to be a the anti-establishment candidate. >> the 800 pound gorilla named donald trump comes along and steels left under. the same happened with the day she mentioned that he doesn't
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have the infrastructure. one thing other candidates had doing like jeb bush, so and so endorsed me, this politician endorsed me and people don't care about that that he doesn't have this republican infrastructure around him. but republican brand is damaged and trump has tapped into this so professionally and expertly. maria: get to markets and the economy, ready for the latest read on the health of the u.s. consumer. sales at 8:30, and economists expect an increase of 0.3% for thought reading in august. we are one day from the start of the federal reserve two day policy meeting whether the central bank will raise interest rates for the first time since 2006. this morning you say no matter what the fed does, china and europe are slowing which is critical, this morning one of your topping's is spain. >> if you look at what is going on in europe china is easy to recap, they tried to manipulate the market higher and now
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they're back on the lows, down 3.5% overnight sell all that manipulating did nothing so we are pretty clear china is making up the numbers. what people are not clear on is how quickly the slowdown in europe is in beijing itself and this is a big problem. if you look it spain the first european stock market to make basically what we call lower lows. the prior low is not alone anymore, we are watching the low in spain, you are watching bond yields in spain start to rise or diverge, negative credit signal. in spain you have an election coming up in november, steve talks about the king trillion or billion dollar package. might as well build walls and do that but the reality is in europe they are going hard left. this is a big scare in europe this morning the germanindex which is a good reading on economic sentiment got the behalf, europe is slowing and a lot of people have to pivot from
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talking about china and the fed to including europe. maria: to the question on the heels of all of that can you sustain growth and pick up growth when all the trading partners are challenged? >> we had dinner last night, we asked the question, bearish on joel world's. except the united states. if there is a change of leadership then you get someone who wants to cut tax rates, mentioned the regulatory stranglehold, if you release that the u.s. can grow at 4% to 5% but it will take regime change, he says all the problems in the united states our policy policy oriented. i thought that this fascinatingly >> i can't believe we're talking about rejected retail sales up 3%, we have gas prices at $2 as a national average. don't you think we should be getting more help for the
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consumer? >> they call it cycle peak. we have gone from the lows of 2009, retail sales don't have much left in the tank. the actual thing rolling over, bust cycle is late cycle as we call it but the big question is if the fed goes dovish, higher gas prices the news story. that is the tail wind? are have heard everything, low gas prices, high gas prices, trump, i don't think it is -- maria: we will talk about that coming up but the question comes up do commodities the economy or do economies lead commodities? >> rand paul with its which they do and we are seeing it in britain already in the labor party over the weekend. was it something that came up in your discussion with fred smith, the ceo of fedex which is as good a bellwether, did this come up the issue of the drift politically? >> yes, very concerned about it.
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he said what happens in the united states, uses the term a coup kind of left-wing takeover of a lot of these governments and he is extremely -- >> the public drifting left. >> you see that in england with what happened with the labor party. one quick thing on gas prices. there is good reasons for gas prices to be falling. the good reason it is an increase in supply from shale and gas and the bad reason for commodity prices is if it is world demand falling. we are kind of supporting those out but i do think gas prices being low over the longer term is a good thing. marionette good to have you on the show. up next ridesharing, details after a moment.
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maria: flash floods without cars, homes and people. cheryl: good morning, seven people i didn't six missing after two cars were caught in a flash flood in southern utah and arizona border. according to reports the flooding began at 5:00 p.m. local time. cars, vans, thrown into area waterways. this is the home town of polygamist warren jets. firefighters making slow progress fighting 2,000 wild fires in northern california. three counties and 100,000 acres. so far one person is confirmed dead. the major milestone for uber list. competitors were granted sticker mix to operate in nevada. officials have preapproved more than a thousand drivers up to this point planning an imminent collision to vegas but neither has given a launch date but big
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news for both companies. maria: uber list getting the go to operate in the desert. these companies are expecting people will buy fewer cars, have fewer cars. the have been battling this for years that this is obviously happening. i wonder if this is going to mean individuals buy fewer cars. >> the don't have any money so that will stop them from having the ability to buy cars listed as are strapped. 8 afford to have their parents' credit card. >> they don't want cars either. there is a change in psychology. people love uber, the access which it your traveling and it was it like las vegas and you are not president of the city and don't know your way around it is great because then you don't have all these crazy tourists on a road. >> big truck sales are up on cars but the convenience of its is simply going to create additional demand no matter
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what. >> this is the ubers of the world, they are not just trying to become taxis and put taxes out of business and transport goods. they want to put automakers out of business. >> millennials didn't drive to the meeting, got a ride with another guy, he gets uber. doesn't need to buy a car. that is true about urban areas. something that works besides having to wear down the street and helen new york city cab which may or may not ever come. i don't think car sales are in trouble because of uber or lift. people have commute to go way beyond a range of applied to uber or lift. maria: from amazon status is why jeff bezos is planning to take a new exploration to speed and a minute.
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maria: richard branson's virgin galactic announcing plans to launch small satellites into orbit unveiling a new rocket designed to carry heavier payloads for more flights. the 1 crafted a one baby able to launch from on top of a jumbo jet. jeff bezos will visit kitty canaveral, florida today to announce new plans for blue origin, his private space company to build and launch rockets, is their money to be made here or ids just expensive hobbies for billionaires? >> there is money to be made and there will be money in the space tourism business but it will be an incredibly select segment of the economy. you have to wonder if lot of this is being done not just for
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space travel and tourism but commercial use, the fact that has that is using this, the europeans will be using their rockets. >> this may sound odd but we -- just launched the first test on small satellite commercial tests outside austin, texas. this is what is happening. the small satellite set up in a lot of different people, not the least of which is the chinese people trying to not let people actually see information. there is a ton to do here. we are very early but there's the commercial aspect that isn't just a bunch of rich guys trying to get things into the air. maria: improvements to the rocket include a larger fuel tank and more powerful engines. we will be happy to hear some of these improvements being made if we talk about this happening commercial. my 2-year-old daughter would be happy but did not sign me up.
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>> first thing when we have a test launch, how did the local farmers deal with it? these -- some real weird stuff out of the backside, something you have never seen before on farmland in the middle of something, texas. you are going to see synergies between the various businesses these people are in. private sector is going to be able to use what elon musk is doing in a variety of other zones to fuel his space program. maria: it is on, the countdown, federal reserve interest-rate countdown making a big decision today is a way, economic data moving the needle for janet yellen. the panel will weigh in on retail sales, in just your production and the fed meeting, back in a minute. why should over two hundred years of citi history matter to you? well, because it tells us something powerful about progress: that whether times are good or bad, innovators with great ideas will continue to drive the world forward.
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. good tuesday morning welcome back maria bartiromo, it is tuesday september 15, once again with me hedgeye keith mccullough in the house,
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fox business network sandra smith and wong's john busey. >> first top stories 7:30 on east coast, donald trump and bernie sanders, on middle class, in speeches yesterday trump said he will lay out his tax proposal over next three weeks he also brushed off the attacks from rivals sanders the journal reporting his policies will cost 18 trillion dollars, with a t, the largest expansion of government during peace times, breaking twitters will let anyone in the united states makes donations to presidential candidates through a tweet twitter will team up with square also run by jack dorsey the candidates will be able to sign up, for on an account, through square cash, another pop lift making headlines senator warren changinging tune on fannie mae and freddie mac will no longer support legislation that shuts down this giant, on to markets futures are mixed this morning we were excepting a lower opening an hour ago look how things changed if last hour a
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couple catalysts from markets, investors to digital react to 8:30 a.m. eastern we've got retail sales number coming out 3/106 a percent gain the expectation at 9:15 a.m. eastern an industrial production report, we know that the industrial side of the economy has been weakening, a watch on journal morning is worse time to facestocks highlighting the market volatility is more costly for strael investors who often tried after the market eepz, ninthier in a row cowboys to be heard forbes list was nfl most valuable enfranchises worth apparently estimated 4 billion dollars, followed by new england patriots you washington redskins new york giants 49ers. >> crude oil futures, below 45 dollars a barrel, still phil flynn in chicago with the latest. >> coming back a moment after sell-off we are following stocks down yesterday, today we are rallying on concerns
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about lower u.s. production, a big report about a drawdown in oklahoma five out of seven weeks raising concerns u.s. shell producers cutting back in a big way back to you. >> phil flynn as "the wall street journal" reports oil companies bracing for cuts as credit lines dry up joining us the editor steven schwartz would did this over the weekend in usa today one of you're worries companies are going to have to redo credit lines going to force a number of oil companies into bankruptcy, tell us your big worry as relates to engenderienergy. >> at this point right now, look, we were able to kick the can, down the road back in the first quarter. when we had to redetermination, of the bank credit lines liquidity continued to slow with fed easy money a function of the forward curve that is to say, the industry was able to hedge, production, forward and bring that production now to
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the fore. now the concern here is that the prices crashed not only in the stock market but also, at the end of the curve, so now that hedge is not there, hedge production is he collateral as far as bank is concerned without collateral in credit facilities reexamined that credit liquid is going to dry up we have been pulling back production already, now my fear is blood running down the street in oil patch once that credit starts to dry up in the fourth quarter that flow is going to turn into a tidal wave could be a very, very ugly fourth quarter in 20 sf. >> keith mccullough this is very much in step with what you've been talking about last year and a half certainly let me ask you about that because the picture, that steen is painting, is really not good for the global economy at all. >> no, it leads rates to jobs claims to big thing a lot of bulls talk about oh, till below 300,000, by the way, they stay below 300,000 before
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every recession inflation moving parts i think steven dead-on on this the risk trading in between very short term fed gores hyper about dove ebbish qe 4 could get oil into o high 40s as opposed to me ander forking trade. >> if fessed rays traits on thursdays. >> if they raise rates they will crash. maria: exactly if they raise thursday what happens to economy in a fragile state? >> well, absolutely, the economy right now i think, federal reserve q3 forecast well below street 1.2%, right now we just had a down graded on the chinese growth, in economic activist, the industrial economy majority g-7, asian, contributing right now you know what that is coinciding to last 12 months
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what is happening over the last 12 months oil prices crashed industrial metals crashed looking at canary in coal fine the fact pulling down now we saw this signal six, 8, 12 months ago commodity markets began to crash. so you have a weak economy globally, united states barely chugging along 1.2% growthed, our neighbors to the north in reassessing brazil in recession other natural resource dependent economies around the globally when are those dominos going to fall you have to ask you intuitively how long can united states go it alone,and a scary proposition at this juncture. >> steven, is -- saudi arabia winning here part of this is demand, the global economy slowed down so demand for oil is down but part of it also that staudi, is pumping oil, saudi pumping oil to complete with shale trying to being no back shale producers from getting too much into their business. so you have at a glut of oil, on the market, is saudi winning this fight watching what is happening in the oil
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patch or when saudi arabia has to make again because it has to fund its social programs do these players in u.s. shale field come back on line it was a momentary departure from production? >> yes, steve i kind of take a -- you know, off the radar kind of view on that, and i maintain saudi really wants north american production to is it accurated years to sxeet with higher cost producer in the global market than it is to compete with the elon musks of the world you want entry barriers low to answer your question why, i do think saudi is winning saudi being driven by two important drivers at this point first and foremost now that white house has given permission on growth of iran's nuclear weapons program saudi arabia sunni saudi arabia does not want to fund that growth right now we're looking at largest between sunni and a peck on record, with that
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said, saudi is certainly not going to cede market share in 2016 especially to the iranians so that is where the real competition is, and saudi being the high credit secure investment -- they are going to they are -- easely accessed credit will want to make things as hard on iran as possible in the new year. >> you are point in all of this commodities do not lead academies, academies lead commodities that is why the commodities complex is -- has broken down? >> absolutely, hence why out looks for world global economy. >> good to have you on shows always we will see you soon, news alert we want is to show you last pictures of the serbian hundred hungarian brurd hungry latest no declare a s state of emergency this continues to worsen what is your take on migrants kroefg
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the board. >> a huge problem politically has to decide who is allowed in who who is not allowed in security risk what is it a huge problem economically, how are they going to provide social welfare services to this new influx of individuals, that at a time when already having trouble meeting their bills, it if anything, maybe, this is the slight positive on demographic front you have an aging europe now sort of a younger group coming in not sure if big enough to make much of a difference. >> you look at this as part of your macro, backdrop for investment. >> the biggest problem, with europe's generation they don't have -- millennial generation, people hungry don't have jobs, you have a political system that is trying to go left to try to support them and they don't want it, so you have a huge issue here, if you look at what we call the core spending cohort of economy 35 to 54 years old demographic curve in europe to look like japan by 2020, in other words, in a core population is going to be down 5% going right off
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thecliff, they don't have a young population, to support it, so again when things fall xaurt k economically like you said economies drive stoshls frustrations and, again, i would not be surprised for hungary metaphor of hungary a big story not going away soon. >> i wonder how this is going to drive our response here at home when you've got the president talking about 10,000 refugees, one democrat yesterday so-called 50,000 of them to be allowed into united states, are we going to stake a queue from europe, in the way they are responding to this crisis. >> yeah, so, the united states is also a benefited from immigration, that is within reason we don't have the demographic bulge europe china japan really has population declining not enough people to replace those dying, think what you that does to an economy long run u.s. has always benefited from this, economically, the story could be made quite positive, which
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nation it at a a little bit harder to argue against it politically. >> there are so many things going on people are not generally aware you and i talked a lot about this if you show the world population growth rate just that chart, start with that, the last 20 years, basically cut in half twice world population growth is going sub1%, so then you have to ask what share of that population growth do you have. whichs immigration policy do you have, getting harder, to basically create humanan, create some sense of economic gravity with "big brother" charts. >> betting so critical, sandra make such an important point the president said we are opening the doors here in u.s. to 10,000 migrants coming from mai middle east two days earlier said -- ground zero or isis is -- is where they are coming, i go back to -- how do you know you are not -- taking in isis?
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>> and ean bremer on program said and tweeted out yesterday, that this is going to this refugee crisis is going to be a bigger problem for europe than anything we looked at for -- >> exactly think about europe's problem, heavily vetted 10,000 coming into united states, 100,000 kroefg the border from hungary all at once, with -- >> merkel said they could take 00,000 somebody else said a million. >> thesh where do they go into slums around paris you have disfranchised i want to knows feel not part of society a hotbed for the possibility of fomenting unrest, or do they find a way to effectively integrate into society, going to be a very difficult slot. >> sure is in in uc countdown for federal reserve meeting a preview what to expect thursday next.
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welcome back this is it on eve of the federal reserve two-day policy meeting the will structural raise interest rates for the first time since 2006 joining us conversation advice chairman has finger on the pulse good to sue thanks for joining us give us the drendz in terms of those of jobs you are placing, white collar jobs you have a good vantage point where are the jobs in this country let's
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start there, and then connect the dots with the fed. >> it will first of all, interesting korn/ferry, i think we fill a job 3 1/2 minutes around the world a pretty robust that we have, thanks a lot work a lot of companies actually help get folks to do better so we do both would we're seeing in jobs what we expect consistency in the recovery around professional services jobs definitely continue to increase. health care, and financial services finally starting to come back a bit those are the places where we have seen growth of being course technology, digital, of course, energy is has been challenged, so, that is kind of what about we've been seeing. >> skill set is a big issue, companies can hire, but they can't find people with the right skill sets to put those people in the job, but at this moment in time, do you worry that a federal reserve increase in if rates on thursday is going to put a crimp in that sustainability you've been seeing. >> good question, i honestly believe that well, let's face it fed has to ray of ratese
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know question when now, march ofetween now panned march of if we do this a moderate rate increase dovish language what i expect if we raise relaxation probably more stock market than labor market about in a nutshell we have to raise going to raise now six months is it going to change the game i just think that we are going to have an impact, because i think we have been egged lowen lower quality. >> have a rate hike i here all the time we have to because we didn't we made a mistake so we should make another mistake, you know, you raise rates, that is a deinflationariry raise rates anyone business model particularly if energy company, and business depends on high oil prices, and debt, you know they have to start firing how is raising rates not a catalyst for something that none of us know the answer to -- >> keith i got to tell you you are spot-on right, so we talk about the zombie companies,
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right, zombie companies exist rates quite frankly aush artificially low beyond believe job cuts when succumb dee companies go away a dual mandate the fed has to both manage, rates, so they can support a growing economy, but they also have to be mindful of inflation, to be frank with you i don't feel living ins i am not commit my sense is having to raise rates thing is driven largely by sentiment when you look at data i don't know where it is contiguously -- >> how -- the data, the piece of it fed really looks at wage rate growth. and it has been really nominal very, very -- slow, growth in wages, over the last several years. and has really kicked in last year or so are you seeing something different tell us the argument on both sides of a fed increase, where you are seeing wage growth, and where
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we may be underestimating how bad it is. >> sure, two thirds of the economy is driven by consumers, right? shoe wages, employment will tell us how strong the economy is going to be how much it can take in terms of pressure to raise rates. >> extremely year on-year average wage growth from 14 to 15 has declined. so as a couple months back adding jobs what is the quality of the jobs we are egged relative to people being able to life spend money in a way supportive of the economy. >> where is wage growth happening no surprise places we talked about, robust professional job growth happening, so life sciences health care, construction financial markets but even with those places raising the average hourly rate, across the macropicture we have had a decline since 2014. >> so egged jobs adding low quality jobs. >> adding jobs to pay let's say, less than 15 dollars an hour. >> this is why the political
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pollution particulara is centrally plan higher minimum wage crappy jobs give higher pay isn't that a wonderful american story. >> we appreciate you joining us. >> maria thanks. >> thanks you so much from korn/ferry. >> arnold schwarzenegger named celebrity of cellity host. >> listen to this is. >> -- i command -- it is not but you have to do -- >> all the way to unemployment line i will show you collateral damage, collateral damage have you seen it value has many -- seen it -- fired. we live in a world of mobile technology,
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but it is not the device that is mobile, it is you.
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deinflati deinflation. . . maria: welcome back a birthday to remember for queen of spain good morning. cheryl: that is right the queen and husband are going to visit the white house for 43rd birthday part of fou-day tour of the united states. and, he has to be back, are arnold schwarzenegger the new host of "celebrity apprentice" plaifrz donald trump as host of the show arnold practicing his lines take a listen. >> i cannot wait to say euro fired or your terminated or you won't be back nooshgs maria back to you. >> thank you so much, are you think arnold will make a good host. >> i think teeing up to run against trump in 2020. >> he can't he is an immigrant. >> oh. >> can't run for president. >> united states, but what a great american story.
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>> right. >> you once again, superiority of resurgence of arnold watching him in movie expend bls only in america. >> i was hoping to get some better makeup and lighting, looked so good, on -- >> yeah, yeah, i mean you could tell hanging out on sofa doing that i think going to be a spectacular replacement that is a hit show a lot of people are going to watch. >> me too. >> all right donald trump tweeted out great idea congratulations. is not it interesting now the host running for president, arnold actor by many governor, it is -- >> what happened in europe becomes such a circus, that like literally a in europe clowns will run for and actually this a run at it for a while. >> now, now keith. >> a circus again -- ronald reagan was actor.
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>> kanye west wants to become president. >> give him a is not ronald reagan was an architect long trajection in t trajection those who have public persona s a eisenhower leadings war effort those in american mind have this kind of -- that they can ride a long time, arnold certainly one of those. >> a carissa a leadership to them even if may not be a leader they can pretend they are if a good actor i side a while ago this is most mediocre looking field i have seen in my life now, that is the point, trump is basically, competing against the bunch of guys, that are -- low energy as he likes to say, they really just don't say anything. i mean at the end of the day, even if they had something to say don't pretend to say it properly, like. >> you see flip side kind of watching one of his stump speeches over the weekend he is really engaging, but a stream of consciousness, it is goes from one thing to the
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next, on in second iter very light on policy the other deep in policy more borrowing. >> i love what he said about media last night getting the whole audience to boo, boo at i wouldn't he had. >> battle for 2016 heating up we are going to look at the economy former economic advisors to george w. bush is here, back in a minute.
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. maria: welcome back good morning, everybody. i am maria bartiromo tuesday, september 15, it is 8:00 on east coast joining me fox business network sandra smith hedgeye keith mccullough "the wall street journal" associate editor, first top stories, thousands of people, filling an arena in dallas, to listen to gop front-runner donald trump will least tax plan coming three weeks bernie sanders took his message to
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evangelical school struck a chord talking about income inequality. >> we are the wealthiest nation in the history of the world. but very few people know that. and very few people feel that. because almost all of that wealth and income is going into the hands of the one percent. >> now if you like a candidate you can give them money through twitter twitter will team up with square also is run by jack dorsey say it candidacy will be able to sign up phenomena for an account through square cash concern over nuclear weapons north korea saying it restarted all nuclear beam fuel plants ready to use nuclear weapons at any time, a day after north korea threatened to launch mtiple satellites aboard long range rockets wildfires outstanding west continue to burn devastating communities to look at pictures north of san
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francisco you are looking at a fire forced evacuation of thousands of people, and one person has been killed, as of late yesterday it has fire 5% contained, markets investors waiting for fed decision this week futures a mixed market very much volume on light side until we get through fed meeting the meeting wednesday and thursday get decision whether they raise rates on thursday 2:00, of course, before that retail sales in 30 minutes industrial production out in about an hour and a half, mixed section stocks in china hit hard shanghai composite a decline of 3 1/2% overnight in europe mixed averages there as well he mostly lower on session take a look at europe although we should foibt out as u.s. has turned around upside european markets shown better performances last dwroer cac quarante paris up 20 points, dax in germany up a fraction ft lower first week of the nfl season coming to a close falcons beat eagles in debut for the falcons head coach in
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late game 49ers out plied vikings final score 20 to 3. adrian peterson, by the way, first game back since suspension last year arnold schwarzenegger named new host ef "celebrity apprentice" practicing lines for the show. >> i cannot wait to say you are fired or you are temperature inmated terminated or won't be back. >> more on that coming up in the program, first, though -- back to story republican candidates range to stake contagious this week again in the second presidential debate wednesday. trump stole the show last time remains front-runner two americans does he stand right now ceo is with us conducted a poll you unlikely voters good to see. >> you how are you. >> good. >> we have seen the it into debate donald trump poised for
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knock-out punch i will tell you why i conducted a poll over weekend 300 republican voters, and if we look at -- bush, versus trump we see, that trump has a 3-1 edge right now on who they would vote for, but i have to question, i said what if you knew that donald trump could win? and he surges from 29 to 49 and bush goes from 10 to 8 an this signal to me, that donald trump might not have this among republican primary voters we have watched numbers go up and up, about at 49% a true poll arearity consolidatin that people are not friday of him win 3 to 1, 39 to 13 believe donald trump can beat hillary clinton that is the on the of this primary so not only has he become legitimate he is now become foecome form m.
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>> gaining confidence. >> isn't this what lowest wants don't you want donald trump to be the nominee. >> i am -- second of all, right now. >> you work with the clintons. >> i have worked with clintons also worked with mike bloomberg, the real issue. >> going for knockout punch. >> the real issue, here donald trump gaining confidence has momentum in politics you do not want to run against momentum candidate hillary as in with barack. >> who do demonstrates want to begins hillary. >> would love ted cruise. >> -- ted cruz. >> you asked the question. >> -- that is a social issue ted cruz incredibly articulate on economic issues, about social issues, he has got -- a debate in terms of general
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population. >> take skywalker i don't think. >> she wants trump. >> she doesn't, and here is why donald trump is now seen as having innovative policies, to move the country forward, donald trump has captured the magician. >> what notably as far as policy. >> innovative democrat policies raising taxes building walls protect shunnism. >> innovative? >> with america focused on right now is the economy, he is a businessman, and coming out with the -- >> raising taxes? >> you know doing -- really into the feeling that there is some -- that people are not paying fair share, and -- >> this is to my -- question i have, how much of this when dealing with a populist candidate like donald trump, is the feeling aspect of it and not the substantive aspect vibe has been donald trump is going to get tripped up when it comes dome time to have
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substantive policies that americans are responding to him, partly cloudy because they are lazy. >> they don't want to get into the policy issues when the bush talks about it seen as unenergetic and he boring how much is american public being lazy unengaged in the big issues or are they engaged. >> i think that the ratings and social media engagement record lls slow how engaged they are when you see cnn, is looking forward to having this debate as fox, was when they had they had record numbers trump shows up on tv programs, he is getting the -- americans -- >> salacious aspect of it? >> christians and lions -- >> hillary clinton hers yesterday, in her i amtakes of donald trump she admitted she said i have to admit it, donald trump is entertaining i have to say i kind of wish i had that same sort of mentality, right? can't she -- take a queue from that other candidates. >> she can.
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>> but -- >> i think that what has to happen here is that you have to be engaging you can call entertainment or caulk it gaging but they are paying attention to what donald trump is saying as presidential candidate that is what you want -- >> the one-liner everyone has to do not like the media like actually a bunch of children if they like broccoli. >> not presidential mountains he is is he not tapping into -- >> he is not talking about issues of the country, that is the problem with so many people in they have. >> very simplistic way a. >> granular solutions when than talking about do you like media. >> i think we have to look at this analysis, not through a political lens i think we need to look at it through the brown lens i spend time work forking facebook samsung when national hockey league look at guys as -- trump is a very engaging brand. >> he is a brand. >> yes one guy --
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>> one guy going to punch his weight is ben carson, and through my poll i really understood what it is about ben carson. >> what? >> people like the fact that he is gracious they have gratitude he cares about people that he is guided by good intentions, and that best days are ahead what is happening there is a part of the party maria who shares his values and they like the way he communicates, and i think that he -- >> have nice people out there. >> is it not -- >> he is -- >> of three things that tumble uniquely does not have. >> once i do have -- a former doctor cares about people is brilliant, the other side, you have a charismatic businessman building a brand we have a very -- this is why jeb bush getting pushed out if you are a carson one side trump on the other, where does politician stand. >> this debate for important for jeb bush has to do s something to stand apart at debate. >> i want to ask hillary
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clinton comments on extra if idea having bill clinton as vice president has crossed her mind do we have that sound bite. >> what do you think about that. >> i think that -- if you are medicare to former president will cross your mind then you move on, i don't think it stays in you are her headed too long. >> foonltr fso many people love bill bo -- bill clinton, hillary running away from policies n projecting hers as bill clinton. >> i think al gore. >> i think she is i think evolving. >> he was more moderate. >> in second term is joe biden running out of time? >> no i think joe biden is making a nice case he is i don't think he will jump in proactively i think he will get drafted in, and keeping that dialogue alive.
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>> right now taking support away from her you look at polls, where hillary dropping sanders moving because joe biden is in the question and taking that -- >> what is your poll suggest right now rb final matterchup republican versus democrat according to the data you saw -- >> would be trump versus hillary. >> trump versus hillary you could see trump polling like a rubio somebody is to balance things out a little bit i don't see a trump-carson don't -- not. >> i definitively don't see trump carly. >> how do you spell, strangeer things happened. >> that would be smart. >> you have seen how trump works. >> in to loving way. >> loving? >> could come back. >> thank you. great stuff as usual. up next summer driving season may be over demand for dplaen show shows no signs of slowing down going to check what it means to you and your money topping one or moring gm uaw agreeing to extended contracts
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continuing bargaining north korea says it is in final phase of developing a slight iraq warning of sharp oil cutbacks. we'll be right back. ♪ ♪ ohhh, ♪ never had a backstreet guy, i bet --
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square allows users to make campaign donations, to candidates right from twitter feed all that starting today, get your wallet out whatever, and finally, thousands of migrants stream into europe, austria following germany lead tight he think security, a grouper of european countries agreed to details how to redrth a immigrants among more countries humanitarian crisis talking about it for days the economic cries is the next big discussion, germany potentially 800,000 coming in refugees, countries can't potentially examine economically handle what they are dealing with right now. >> the point you made earlier, john, in terms of paying for benefits, stand the economics behind. >> what happens when you can't pay for it political resentment that results from those already in germany, against those who say -- >> it is a classic you know immigrant issue in the united states. >> working for -- trump yesterday was running on the same thing, he is saying, you don't have any money i am
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going to give it to you. >> okay, this is the whole point, when you don't have economic growth you have to create handout stipends if you look at u.s. pardon me of pemedian consumer income government subsidies 18% in greece 25 to 30, in spain, threatening to be 30. that is what people who don't have anything, want to hear. you are going to give me something, this is the -- epicenter of socialism very introduces in trump and bernie sanders interesting different parties. >> so against conservative donald trump saying he is a conservative is. >> he -- >> doesn't look that way from things he is saying he continues to say that he is --ch. >> i asked him that question said well eileen conservative all things social as well as economic. >> show me somebody wants to raise taxes, raise government spending, build a wall be a pro technical shunist i show
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you a gratuito democrat. >> definitely out there. >> the crisis is bad, i go back to -- bremer was brilliant on this yesterday, actually made a comparison to the situation, that we all just saw, in greece. this is going to be far worse for europe, and germany is shouldering the brunt of this, you look at here at home you wonder, you know, what kind of numbers are we talking about here the president talking about 10,000, you know you've got another democrat in u.s. talking about 50,000. so -- what do we learn from what is happening there for here at home? >> security risk as well down the line. >> you see a political system driven by this this is contributing not causing but a contributing to europe versus the will have the social issues declining employment concern about we'll being drift to left in britain over the weekend, at the same time, the dpaufrment, concerning nor
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europe. >> don't confuse europe the continue nent with america huge byes a raciallyly ethically a very hot topic there going to get hotter. >> we will keep watching cheryl this you cheryl casone low oil prices some relief at pufrn for americans how low will prices stay is there? is it go to go help the retail sales number when it comes out 10 minutes are people spending money thanks to the savings at the pump? back in a minute. sure, tv has evolved over the years.
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for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. . . maria: welcome back, foreign oil prices fueling decline in prices at the pump, now gas at the lowest level since february, how long will that affect for oil and gasoline,
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increase out side sf the refinery in lamont illinois jeff? . reporter: morning to you maria that is smokestack you see back there that is canadian tar sands crews being refined as we speak cheap canadian tar sands one of the reasons in 10 minutes we will see some of what we've seen past 3 or 4 months, take a look at those numbers, down a lot. that is money spent on gasoline, but doesn't mean we are using less in fact, just the opposite true first week of september over course of the past four years, less than -- not since 2007 have we used as much a gasoline in first week of september as we have this first week of september that is because travel is up take a look at a couple representative states florida new hampshire, people driving more getting a lot more obtaining for their buck, what are they doing with that money? well, when we get retail salz
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we will find out whether saving or spending it. >> thank you so much we know john, that the savings rate is back up to 5%. so, so far, they have been saving even though we are hearing aring possibility of gas reaching $2 a gallon by new year. >> the recessionary out of a very bad time over last five years, takes a long time for people to feel more confident, again, in a way a good thing people saving more we have been encouraging higher savings rate bad thing two-thirds of the economy depends on consumer the expectation still is that the billions of dollars of saving upwards 100 billion dollars of savings because of lower gasoline prices will eventually tip into the economy, you are going to see people, you are seeing already, people driving more, spending more, around the margins buying that consumer goods more. >>ing watching oil as one most important elements for investing. >> yeah if you look at stock market day-to-day look at yesterday for example markets now what led the market down energy stocks, down 20.4% for
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the year to date xle energy ecf a crash moved back in crash mode for the year to date as soon as oil sfoouts pop this morning, s&p futures from lows to highs again, people are just not betting on economic growth they are betting on fed this is what we are boekt on, if you want to bet on a dovish fed into meeting thursday, you are correct going to bet on the dollar falling interest rate falling oil going up that is the most clean cut way nonconsensus way everyone bearished on oil matters to the market. >> is everyone bearish on oil that is what you said? >> i was look at six different articles in a row basically say i've been saying for a year but not like -- i will read headlines in a second. >> nanyway --. >> everybody -- >> i certainly don't, i think that there is a lot of bottom picking happening in oil prices you look at 4448, but still, with oil historical at low levels, by the way, jim
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rogers on this program says he believes oil is bodily injury out at these levies, by the way, not all bullish on commodities not buying gold not buying virl. >> agriculture. >> buying agriculture. >> -- that is right i put in caveat. but i just got a tweet, like people know maria, you keith and i were active tweeting on show somebody tweeted that they a kid 1.94 in rogers at local casey's convenience store 1.89 sam's club card discount i am wondering why people paying less than $2 at gas pump and united states right now, we're not talking about a booming u.s. sxhier. >> about the mix, by the way, headlined from "wall street journal" i define bearish when in journal oil patch braces for financial reckoning i wouldn't say bullish headlined. >> that is a different story. >> we have been talking about a lot, on this program. >> want to get to actual story isn't, 6% of the take the
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median household average consumer, 6% what have they spend on gas prices, 25% is on rent, rent is hitting all-time highs, health care all-time highs. >> combine -- half of what they spend on health care, and rent so when -- like we should not even be able to say we went to college, to say -- >> part of that sentiment if people think paying lows on gasoline they think paying less on every day items, they spend more. >> but you got to say and could also get fired. >> you are fired. >> if you life in dakotas, texas -- >> you said something very important that i don't think you can underestimate that is cost of health care, yes -- 100 dollars at gas pump but guess what i spent 106 on family affordable care, so that is what -- taxing everybody. >> rent and -- >> complete agree. >> what does it mean for fed retail sales number out you four minutes we've got breaking news don't go away.
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can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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>> all right. we're waiting breaking news. the retail sales numbers, market is expected to open higher today. retail sales expected to be up 3/10 of a percent. that would be the full growth we saw in july. the numbers are coming out any moment right now. this is probably going to set the tone for the markets. 3/10 of a percent increase we're looking for for the month of august. we want to talk to jerome, the director at thompson reuters, and the number is .2, up .2. 2/10 of a percent. it's weaker than expected. what's behind the number. >> it's behind the consumer sent: it's the psyche of the consumer. you can give them lower gas prices, but if the global markets are volatile, and the stock market is volatile, it's
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a rishen the u.s. is recovering. as a result they're being very, very cautious on spending. last month we saw record auto sales and that's driven by lower gas prices, consumers say it's a good time buy a car. consumers are leaning more towards experiences over the actual buying material things, there's been a whole change of the consumer since the last recession. >> and it clearly matters that stock market market move had to have mattered. this is a miss versus expectations. i spent time modeling the basket of expenditures, they are ate pressure and maria mentioned health care and rent. are those big problems that you see when you look at the data. >> those are huge problems and if, you know, despite the fact that we are, the job market is improving, if the consumer feels that there's still uncertainty in the economy, and the mixed data, they'll hold back on spending. they have that like health care, it's up high so those are
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the primary thanks. >> the psychology works in the savings rate as well. they may not be saving for later on, but saving because they're worried about the health care cost. that's why it's so high in china because they save because they might be hit by a car. but the same thing-- >> retailers are paying attention and they reported earnings and issuing negative guidance. the beginning of august we received about 22 negative guidance and that's up to 52 today for earnings. so when you look at projections fors s&p 500, lower than the last holiday season. maria: can the federal resister of, this is much weaker than expected. autos are up 1/10 of a percent. >> they can, because guess what, the federal reserve is
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unelected. they can do whatever they want. they're unaccountable, both parties support them. republicans and democrats just like in the 1970's. >> they're accountable to the wealthy in the economy. and their perception of that. >> as far as i can tell the median consumer in this country makes 50 grand and has to spend 50 just to eat and have a place to sleep. >> i was going to say, based on what you just said, i think that's an excuse of like the psyche of the consumer, i think it's kind of a lame excuse. i think the numbers are really bad. this recovery has been slow and dismal. wage growth has been stagnant. the unemployment rate, the headline rate doesn't mean anything to the middle class. people are taking jobs out of college, not buying homes or cars, not a lot of positive news in the economy. maria: you're talking about the u.s. story. and now layer on the fact that the u.s.'s trading partners are all seeing recession or slowdowns.
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>> exactly. >> you're sounding more bearish than me. >>. sandra: not bear ish, but blaming it on psyche. maria: why are companies hiring new workers when they have to put benefits and higher now $15 minimum wage. all of these measures coming in businesses, would you hire more people? >> let me ask you on the saving rate, with the people putting the money aside from lower gas prices, an um can of -- couple of bucks a gal or on average. and we hear later on people save money and feel good and get to a certain level and things are better and we see-- >> a snapback. >> we have seen that in the past and right after the recession and we saw that at the holiday season, we saw that the third quarter slows down and consumer between the back to school and holiday season
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and splurge during the holiday season. projections are for healthy holiday spending, but weaker. >> let's not forget what else happens at the hospital. what he said, low quality jobs, temps. >> what happens during the oil price falling season. i hope people don't forget when people went from $150 in the middle of '08, gas prices were falling as i can see all the way through christmas into the bottom of '09. the expectation embedded in that in the jobs market and the stock market absolutely matters to people. it scared the hell out of people. do you think there are people out there today that are allowed to go like this and basically say, oh, i'm not so worried about the 2000 bubble, the 2007 bubble, in asset prices. i'm totally confident this is going to play out just, jut fine this time. the psyche has to matter. maria: we got the number outment your prediction, keith? the federal reserve does not raise interest rates thursday, how does the market respond?
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>> it's going to be tough. i mean, we've not had to go through-- what the market is saying now is that bad economic data is bad. bad is bad. maria: sell off. >> one time it's not good enough, if a democrat or obama could tell you the-- it's fantastic the market to go up. but when it goes from growth to possible recession. i'd like to take down exposure and say you guys make that decision and i'll react after i see it. sandra: this is a highly anticipated federal reserve day. thursday is going to be huge. this is going to be a test of the market. maria: we have been talking about the september meeting for a year. thank you so much. >> thank you. maria: bernie sanders has a new proposal to expand the government. yeah, really expand the government.
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i'm going to look at his in comparison to trump's next. ♪
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>> one nfl team topping the most valuable list yet again. cheryl casone with the story. >> i'm happy about this one. how about the cowboys, the
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american team for the most valuable franchise, $4 billion. second is spanish soccer team real madrid, and new york patriots, new york yankees and es barcelona rounding it out. and movie goers seeing the james bond specter film, there's a ticket made of black seals with bond logos on it, allowing them to see it as many times as they want. big whale, small boat, right? a couple miraculously escaped unharmed after that whale breach breached. >> look at thatment. maria: can we show that video again? >> oh, man. maria: whoa.
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>> yeah. that does not happen often. they're okay. maria: that's good. >> if somebody gave you a million dollars and said this thing is going to land on you on your kayak, would you do it. maria: no. >> they seemed to enjoy it. maria: they're hanging on for dear life, good for you, you made it, wow. back to the 2016 campaign and a different kind of shark and whale. top story in the wall street journal bernie sanders, expanding the government to $18 trillion as presidential front runner donald trump spoke last night in dallas pledging his own fiscal plan. >> the middle income in this country is being decimated and we're going to change it, we're going to change it over the next three or so week, i'll announce a tax code, i know everything about it probably as well as anybody. maria: joining us now in ed
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lazier, former advisor to george w. bush. welcome back to the program. >> nice to see you. working you too hard, i haven't seen you too much here. maria: i'm coming soon, but in the meanwhile, join us onset. ed, go through donald trump's policies and compare them to the others, in particular bernie sanders with $18 trillion in spending. >> well, it's difficult to compare donald trump's policies to anyone's right now because he hasn't really spelled them out. in fact, the only candidate that has really given us a detailed tax plan is jeb bush. he unveiled his last week, as you know, it's a pretty specific plan and i think you could compare that to what bernie sanders is saying and some of the other candidates are saying. the thing i like about jeb's plan in particular, and perhaps mr. trump will come out with the same thing in the future is the focus on investment. to me, that's the most
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important component in listening to your discussion a few minutes earlier about the anemic recovery. the key thing here, we've not had significant capital expenditure during this recovery and to my mind that's in large part a result of the taxes that we face on investment and on corporations. so, i think that the biggest thing that we see in this plan, and jeb's plan and also to come extent in the plan that marco rubio unveiled a bit earlier, is the fact that investment will not be taxed or will be taxed at a significantly lower rate. maria: you didn't mention, by the way, that hillary clinton wants to double capital gains taxes. there's that, keith mccollough. >> unfortunately, that goes the wrong way. two bad features. first of all, it definitely had discourage investment. we certainly don't want to be doing that right now. that's exactly the wrong thing to do in terms of economic growth and, but the second thing, i don't think it will work. even if you thought it was a
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good idea. the roam is-- problem is she's focusing on short run versus long run strategies by corporations. since people's investments are staggered at any point in time in the market, there are many people who are going to be coming due to turn their capital over. what that means, the trading which affects market prices, the holders don't affect market prices, the traders affect market price. i think it's definitely a step in the wrong direction. most republicans, obviously, i worked for a republican administration so i can't claim to be completely unbiased, but most republicans are pointing on the right direction in growth and i like specifics in jeb's plan in particular. >> that's a key of the bottom up mandating of minimum wages,
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never worked. what trump had to say, didn't that have the chance to smack of socialism. he says many' going to fix your income the day before he's talking how executives are getting paid too much? is he talking wealth transfer or growth? >> again, i think that mr. trump hasn't been specific enough yet to evaluate what his plan will be. the one thing i am concerned about in the things that i have heard from mr. trump is that he does tend to have a somewhat populous bent in the discussion. as you point out, the kinds of things he's talking about appeals to a general audience. what you want in a presidential candidate, a rudder that's not going all over the place. when we think of the president, a strong viewpoint, perhaps an ideological viewpoint, but that guides them when it comes to
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decisions that they have to make along the way. you want someone with a strong focus. up to this point without being too critical of any one candidate, i have not yet seen that focus by mr. trump. >> by the way, bernie sanders, price tag of sanders' proposal, $18 trillion. where is he spending it? >> he's spending it on everything, it's not just an expansion of programs but it's on things that republicans can get by, too, like more highways and infrastructure. our infrastructure is slowly, but surely degrading. maria: larry summers wants that. >> everybody is complaining about that. on college education, on a variety of sort of things that i think a lot of americans would say, a yeah, that makes sense. the problem is it's 18 trillion over several years and more, if it's 18 trillion. >> and it's 6 1/2 trillion in tax increases he's articulated.
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maria: he wants a 90% tax rate. he's going to charge a 90% tax rate. sandra: ed, my question to you, you've obviously disclosed your bias, i would challenge you if you like jeb bush's plan on the economy, and like his plan as far as taxes are concerned now that he's laid that out. why does he continue to lose ground in the polls? >> well, i think-- i'm not really the guy that you should go to for political analysis, i have plenty of colleagues superior from me. maria: what does your gut tell you? >> well, you know, my gut is that jeb has focused on substance as have some others, i don't want to single him out. he has focused on substance and the substance i think will be important later in the campaign and certainly when it gets narrowed down to the democrat versus the republican. it doesn't get the headlines. it's obvious to you, you see how many headlines mr. trump has gotten the past few months
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and even jeb when he rolled out what was this dramatic plan, the centerpiece of what he's talking about in terms of 4% growth got little bit of attention, not a great amount, and that's unfortunate. and i would say the same for other candidates. maria: look, donald trump just threw him under the bus when he said he's low energy and it stuck. >> it did. well, you know, i think that's true. now, i would say low energy perhaps in terms of communication, not low energy in terms of actual performance. maria: right. >> because if you look at jeb's record, again, i don't want to be singing the song for jeb and ignoring other candidates, but if you look at the record of some of the candidates, there are many very good candidates out there on the republican side, and look at their records. look at what they did when they were in the governor's office. i think they've been quite successful. so, you know, jeb certainly was not a low energy governor of
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florida. he did a lot of things there ap i think his record was very good there. i think scott walker, you know, who doesn't come off as the most dynamic speaker in the world, but certainly was an aggressive governor, got recalled and did some things, some of which you might like and some you may not. you hardly view that as a docile period in wisconsin. they're active people, they don't seem to have the same smile. right, yes, sir, that's right. maria: ed, good talking with you, thank you for joinings the conversation, appreciate it. >> thank you. maria: see you back in california soon, ed, thank you. >> hope so. love to see you out here. thank you. maria: we'll be right back.
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welcome back to morning with maria. i'm nicole petallides on the floor of the new york stock exchange. a gain of 0.2%. slightly less than expected. 0.3% was the expectation. up from the prior month 0.7% in july. showing consumers are getting used to volatility. we'll see what the fed does with this piece of news. many retailers were under pressure for the month of september, lululemon, and aeropostale and the empire manufacturing state gauge down 14.7. that that's contractions. much more with, morning with maria coming up.
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>> is that caught? that was out of his glove. maria: wow, look at this! a fan at last night's l.a.
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dodger's game tried to wrestle the ball and glove away interest adrian gonzalez. gonzalez prevailed, the dodgers got out. the police showed up and he received plenty of boos and he was escorted from his seat. that's quite a moment. let's get your thoughts, on that note. the futures have turned around and what's going on here, what are you seeing there as you're watching the futures? >> i just tweeted for those of us who follow twitter and the show at the same time. i tweeted the real thing going on here, which is more cow bell. wall street wants more cow bell, more federal reserve easing. when they see that data, forget the december hike, forget the election hike, they want that. that's the only catalyst that the market has left during an economic slowdown available and ready visible to anybody with
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eyes and ears. maria: earlier you said and i think i agree with this, if the fed doesn't raise rates, it's a negative for the markets. are you saying now that the markets want the fed not to raise rates? >> they're hoping, it's a hope trade. and i like to describe it with the viagra metaphor. everything is shorter and less long when it comes to the next central planning event. you had dollars down on the number and futures didn't go up. the markets didn't go down today. i don't think that's a huge thing, but, again, we're going through the paces on that. you have to obviously watch the market for what it is and-- >> oh, my gosh. i want this meeting to get over with. >> yeah, so, i mean, looking at the way the markets are reacting, there's pretty like subpar economic data. and the market praying that we will get that quarter point rate hike and we'll get it on the next meeting. ooh en-- even if they do, what's a quarter point.
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the market is fed obsessed at the moment and not talking about china, it should talk about china. the market there, the hang high was off another 3 1/2% today and the second story that we're looking at is the immigration, migration problem in europe and it's going to cause additional slowdowns, at least in the nearby, for europe as they try to digest the huge population. >> my colleagues on the desk, always a pleasure and an honor. thank you, everybody. thank you so much for joining us, ashley webster is in for stua stua stuart. >> thank you very much, i'm ashley webster, stuart is back tomorrow. the big story, they keep on coming for hillary clinton. the latest poll shows her support among women, women i say, plummeting down nearly 30 points in eight weeks, since july. donald trump packs a basketball arena, blasts hedge funds and ceo pay and what does he do? he goes up in the polls again. pope francis

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