tv Forbes on Fox FOX Business December 11, 2016 7:00am-7:31am EST
season. >> ben. >> don't by sweaters for your wife or your spouse or anybody, buy diamonds, diamonds are the way to go for now and for the immediate future and for the long-term future and forever. >> wow. i'd like to see just ben stein shopping. all right. we continue now with dave. president-elect donald trump still getting bashed by the establishment for his congratulatory phone call with taijuan's president. take a listen. >> some of the progress we had made in our relationship with china could be undermined by this issue flaring up. >> i don't want to undermine that progress, but someone here asked where was the outrage when our current president spoke with cuba's raul castro and when he reportedly spoke in secret with iran's leader rouhani. i'm david asman, welcome to "forbes on fox." let's go in focus to steve out
with steve forbes, mike ozanian, john tamny and others. steve, i can't help but hear all the progress we made with china, what about the progress with the south china sea business, with trades, et cetera. i don't think it was bad, do you? >> no, and in fact it was a brilliant move by the way liberals love to deal with our enemies that's why they say it's bad to be a enemy of the u.s., worse to be an eye lie of the u.s. in this case what trump did was absolutely fabulous, he made it clear we're going to defend our interests in the south china sea, cyber security, barring our companies from having full selling rights in china especially if they're cutting edge and appoints terry branstad the new ambassador to client who knows president xi of china. in effect what trump is saying, we will negotiate but with you it will be different from what you have had in the past from us. >> what was all in a progress that josh earnest was talking
about that trump has not endangered? >> listen, i think that my issue -- the phone call isn't that big of a deal to me but i would say that there's 54% of the american electorate and the votes are still being counted and it's growing that still have concerns about donald's temperament here. so when he goes off and he does this and takes a call and then he tweets later that like they called me, it doesn't send a message that he knows what he's doing or that there's a game plan. so that's my concern because he just goes off half-cocked o all these things and i don't really see a game plan here. i guess we will have to wait and see how it turns out. >> rich, some people say it was a plan all along, that this was not that spontaneous, that trump had planned to do this from the beginning, but he does have a game plan concerning money and our commercial interests with taiwan. here is what he sent a tweet out saying it's interesting how the u.s. sells taiwan billions of dollars of military equipment but i shouldn't accept a
congratulatory phone call. does he have a point? >> not only does he have a point, the logic of that is so brilliant and crystal clear. i didn't vote for the guy, i've been critical of the guy. i thought this was brilliant. a lot of my liberal friends on facebook thought it was brilliant. trump is a master negotiator and he knows that the u.s. has leverage with china right now, you know, china desperately needs the u.s. economy to keep its growth rates up and its middle class growing and trump is going to use that leverage. >> and mike, josh earnest didn't spell out, i don't think he could spell out the progress that supposedly we've made with china but trump spelled out in another tweet some of the problems we have had with china, he says did china ask us if it was okay to devalue their currency making it hard for our companies to compete, heavily tax our products going into their country, the u.s. doesn't tax them or to build a massive military complex in the middle of the south china sea? i don't think so. >> well, i think what china
probably was most upset about was donald trump's indiscretion, but as china and the rest of the world are learning is that the president elect speaks his mind. how refreshing is that, david? someone that tells the truth. and the people that are concerned about his behavior, they are the same people who said that when he ran he would never get the republican nomination and then once he got it he would never beat hillary clinton. they were wrong on both of those counts and they're wrong here. >> john tamny, i know trump is not reagan and reagan was not trump but there is a similarity in the sense that a lot of times reagan appeared to be speaking undiplomatically according to the diplomatic so-called experts, yet he got things done. >> reagan at least mostly knew that devaluation isn't the path to prosperity. >> i knew you were going to take issue with that part of the tweet. >> somehow trump still believes that. my main thing is that i don't have an opinion on china versus taiwan, but i certainly don't think our president should be
placating either side. the reality is people in china, people in taiwan invest in each other aggressively. it's not president trump's job to deal with what is a local issue. >> talk about placating. think of the way this administration placated castro, when fidel was alive as well, the way they've dealt with iranian dictatorship and it's just not working. >> that was a moral failure of the obama presidency. just the refusal to basically say evil is wrong and say that countries like cuba or iran brutalizing and slaughtering their own people, that's wrong. and donald trump is doing that. he's speaking with moral clarity. and, you know, by the way, we also had -- do you remember secretary of state john kerry saying about the charlie had he been dough attacks, he could see some rationale in that. now we have a leader saying this is right, this is wrong. rich and mike are absolutely right.
i do, again, say that is president obama's greatest failure is his refusal to hate and condemn evil acts. >> steve, he has picked these diplomats to operate with the world in the various forms and everything, they are -- some of them are from the establishment figure. is he going to take charge, is he really going to shake up the diplomatic community in ways we haven't seen since reagan? >> i think he's going to be forthright in terms of what our interests are and pursue them. appointing terry branstad who knows xi in china as a negotiator tells the chinese things are going to change but we're willing to deal with you and we'll profit if we cut good deals with each other, but this idea that they can cut american companies off from selling in china, steal our know how in technology and not pay a price for it, that's got to close and got to end. >> bruce, i'm going to try to get it out from you again just talking about what the obama administration did. i mean, the reset did nothing, the russian reset that hillary did with that target button and
everything, did nothing to stop the russians from going into crimea, from invading a foreign country and taking it over, it did nothing to stop china from moving into the south china sea. it doesn't seem to have worked. >> well, i would say this on the -- there has been a lot of ambiguity with china dating for decades here, maybe there can be some clarity here. i would say trump didn't get this idea to call taiwan on his own. bob dole, the former republican presidential nominee set this up, he was a paid lobbyist for the taiwanese people on this and that's how that came about. so so much for draining the swamp. >> that's an interesting charge. steve, had you heard that charge before and is there any credence to it? >> sure, bob dole was instrumental in making it happen. my answer is so what. if he makes something good happen you ra grab it, if it's not good you ignore it. just because somebody may think they have something in it doesn't mean you should reject it. that's good judgment. >> i'm laughing because it
reminds when hillary charged truch of taking advantage of tax write-offs and so forth he said, yeah, it proves i'm smart. >> that's the kind of bluntness you get. steve forbes and i just came back from our forbes global ceo conference and i am telling you americans should go there because other countries in asia really want a strong u.s. and so they may not come out and say so publicly because of the fear of offending china, but they are giving a quiet thumbs up to trump. >> i want to go back to steve because he did just come back from asia. you were one of the first people to tell me during the campaign that the chinese, the people that trump were attacking time and again actually were okay with the idea of his becoming president, right? >> they feel they can cut a deal with him, negotiate with him and i think he's demonstrating that with a real clarity. >> and by the way the chinese in reality are less upset than "the new york times." >> exactly. and here is why. i mean, china needs the united
states more than the u.s. needs china. >> bingo. >> we are their number one export market. >> although i saw john tamny snaking his head. go ahead. >> of course china needs the u.s. as an expert market but let's not forget how much better off our economy is because we have such productive people in china making all sorts of goods for us so that we can focus on our energy on a much more higher margin goods. this worked for both sides. >> agreed. >> it's not a negotiation. it's not war. >> got the last word in john. coming up next republicans plan to delay replacing obamacare coming under fire but our steve forbes says he has the cure for everybody without a delay and it puts you, the consumer,
you say the remedy is just to get rid of all the middle men, insurers and the government, and make the patient the customer again. explain. >> sure. david, whenever we have real free markets scars tease turn into abundance, prices come down. why not with healthcare, you see it with lace sick surgery for the eyes, you see is in cosmetic surgery. how about having hospitals post prices for all these products and services. how about hospitals posting each month how many patients die from infections received after they're admitted to the hospital, 90,000 a year. david, there is a surgery center in oklahoma called the surgery center of oklahoma and their prices are low, they bundle, they're public about it, they don't take insurance, they're so good that now the state of oklahoma is having its own employees go to them because they're so cheap and effective. >> brewuce, the point is that y put as little distance between the patient and provider as possible. by the way, life expectancy for
the first time in a long time is going down to the u.s., all kinds of increases from various diseases, as steve mentioned some of the hospitals are getting dirty. don't we just want to shrink the middle men, get the middle men out of the business? >> well, i would be for, which would never happen, the bernie sanders idea of single payer which would get rid of all the middle men known as insurance companies. >> put a big middleman in the middle known as the government. >> one of the things that obamacare and even the president didn't talk enough about this does is that it moves the system away from fee for service medicine to value-based care which does put the patient at the center where you're not just treating people once they get into the hospital. we heard at the forbes healthcare summit last week humana has 10,000 nurses where you're moving the providers more out into the community to get people and stay well before they get sick and in the hospital, which is a worry at a hospital industry. >> it is a worry. mike, the point is that
healthcare is a service. the obamacare wanted to make it something else, some government right or something, but it's a service like all other services and if the customer has choices the customer is better off. >> to me, david, there's no mystery with healthcare. there's nothing that distinguishes it from, say, food or sneakers or anything else that you buy. it should be a decision based on the customer and, you know, it's extremely personal. you know, what doctor i want to see, what type of treatment i want. it's much more personal than anything else. so the more control i have, the more i'm going to feel comfortable with it. >> rich, let's talk about this very interesting coalition between establishment types inside the belt way, including republicans, working with insurers and hospitals, coming out with a study saying it's going to cost $165 billion if we get rid of obamacare too soon. frankly this is ridiculous to me. i mean, the sooner the better i think if something is not
working. >> well, i think you have to disrupt the existing order and particularly, you know, when many of these hospitals are not behaving professionally as steve points out and are not being transparent about prices and about infection rates. but i have some sympathy for them because if you take away obamacare you're simply going to get people crowding emergency rooms and the hospitals are left dealing with this. >> but, john, the point is that obamacare has been taking us in exactly the wrong direction. if you want to get out the middleman between the customer, the patient and the provider, that means that you give the customer more -- more say over his own money. that's what flexible spending was all about when, in fact, obamacare cut flexible spending from $5,000 down to $2500. >> absolutely. when people -- when free people are venture buyers high prices fall, the first ballpoint pen cost $15 now it doesn't, the first laser printer cost $17,000. my problem with the republicans is stop coming up with solutions
and just repeal obamacare. once you do that and just allow competition into what is a service like any other you will see prices fall because those who provide the service will come in and compete on price. >> you will also see less abuse and fraud because when people are in charge of their own money, they're much more careful about how it's spent. medicare, just one major government healthcare enterprise alone wastes $60 billion a year because the individual doesn't have control over it. >> right. i think that the central goal in all of this is to give individuals more ownership and control over their healthcare dollars. to mike's point the way we have control over our food dollars and our clothing dollars. to sort of respond to some of the progressive concerns i think one of the reasons there was this big push for universal courage was because they felt that people weren't going to a doctor soon enough, but if we repeal obamacare it means that insurance would go back to being what insurance was originally intended for, for catastrophic
things, not for your daily or your routine visit to the doctor. so we're all going to have to reset the way we think about insurance and this will be much better for everyone. >> all right. the "cashin' in" gang getting ready to roll at the bottom of the hour. what have you got? >> president-elect donald trump barbs boeing over the sky high cost of the air force one, the mainstream media warns he's scaring companies but is that a good thing? j plus ohio state university students and faculty saying don't call the recent attack on campus terrorism even though the attacker praised a terrorist leader. what? see you at 11:30. up here first all the major stock indices soaring since the election hitting lifetime highs this week with you some of the media saying it's not a trump rally at all, it's an baum rally at all, it's an baum raways wins.
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so it's being called the trump rally, stocks jumping again this week and they're way up since the election, but according to the "new york times" we should be saying thanks obama. john, i was away for a week and i saw that stocks were going up but then i come back and read these articles saying obama should get the credit not trump. am i crazy? i think it's nuts. >> well, markets never price in the present they always price in the future so trump deserves credit for this rally, but to be fair and balanced, if republicans want what's true to be true, they must also acknowledge what was never true, that the fed was the source of stocks rallying all these years
up to that point. that never made sense, either, neither does "the new york times." >> bruce, clearly the obama administration has had 7 1/2 years where they really haven't been able to get this economy going. did they deserve any credit at all for the market rally? >> of course they do because the economy was in a ditch when w. left office and unemployment is down and wages are starting to tick up. but i will give trump a little bit of credit because his promise to make america great again appears to be to make america dirty again because he's appointing all these fossil fuel people to his cabinet. >> e mack. >> listen, if the media gets it so right why did they get the election so wrong. if the km he is so great why wasn't hillary elected? the fed helped this rally, the markets look forward, this is a trump rally and they're going like gangbusters right now. >> sabrina, when boom came in he raised taxes, raised
regulations, trump is saying he's going to lower the cost of doing business, isn't that why business is happy and markets are up? >> yeah, i certainly think so, david. john can correct me if i'm wrong but i think markets respond to sort of the perception of what's going to happen and you don't have to be a donald trump fan to see that people believe that he is going to have a pro growth agenda. he's already sort of showing that in terms of rolling back burdensome epa regulations and taxes and we're talking about repealing obamacare. sort of this massive expense. so i can't imagine why the stocks would move in any other direction. >> mike, you and i are simple guys, isn't it simple that trump is going to make it cheaper to do business and that's why business likes it? >> and that's showing up in the value of our currency, david, since donald trump was nominated president the value of the u.s. dollar has increased, it's gotten stronger, i know i'm making steve forbes and john tamny very happy but money is flowing in, the strength of the dollar is the proof. >> steve, 15 seconds. does this market continue for long, this market rally. >> as long as he pushes forward
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and we're beating the competition bad. we are back with the picks our informers say will hit new highs of their own. e mack, you have a collection of stuff. >> fidelity, select industrials, they have great industrials, also aerospace plays in there. kind of like what mike likes. >> what do you think about e mack's p i can? >> i like this if he had ilt fund, i think that the manufacturing sector is going to rebound and this is a smart way to play it. >> boeing, why do you like boeing? >> boeing has had a rough week
relative to the overall stock market but this is a great company and i think it will rebound. >> eric bolling has more on this after the break. what do you think? >> it's a blue chip stock and i think it pops. moving into the second half. >> aerospace is good. that's it for "forbes on fox," thank you for watching, have a wonderful weekend. keep it right here, the number one business block continues with "cashin' in." the plane is totally out of control, it's going to be over $4 billion. it's four air force one program and i think it's ridiculous, i think boeing is doing a little bit of a number. we want boeing to make a lot of money but not that much money. >> president-elect donald trump talking tough dens companies he thinks are taking advantage of us. from the cost of government contracts to moving jobs overseas and, surprise, surprise, the mainstream media bark him for it. the "washington post" accusing mr. trump of unnerving corporate america but is it really a bad thing and with all the markets breaking out