tv Cavuto Coast to Coast FOX Business June 11, 2018 12:00pm-2:00pm EDT
charles: stay tuned to fbn all day. we have coverage of the summit, beginning tonight. we have special coverage 7:00 p.m., we'll be live overnight into tomorrow morning. we have a big lineup of big names. here is one of them. neil cavuto. neil: thank you, charles, very, very much we're following drama ahead of the big night. it will be historic. that is overused phrase here. what is remarkable throughout the worries back and forth on this, worries back and forth on trade, whether we're alienating our friends, markets keep climbing. we'll get into why that might be going on. why it could continue to go on. first the latest from singapore with our rich edson. rich? reporter: hello, neil, it is nine hours it is scheduled to be president trump, kim jong-un and their translators of the that is the first session. that is the second session broadcast or broadened out, excuse me that will inclues national security advisor john bolton, secretary of state mike
pompeo and john kelly, the chief of staff among others. north koreans will add additional members to their team as well. forç tonight, kim jong-un hit e casino, sands casino close do where we are, the bar, 57th floor. walked around. that was evening preparation for tomorrow's 9:00 a.m. evening with president donald trump. north korean and u.s. delegations were discussing earlier today. there was a morning session, a session this afternoon, to try to get more groundwork done before the two leaders meet. secretary pompeo says hopes this is the first of multiple meetings between the two. >> this summit will have set the conditions for future productive talks. in light of how many flimsy agreements the united states has made in previous years this president will insure that no potential agreement will fail to adequately address the north korean threat. the ultimate objective we seek
from diplomacy with north korea has not changed. the complete, verifiable, and irreversible denuclearization of the korean peninsula is the only out come the united states will accept. reporter: secretary pompeo said in exchange he would offer kim jong-un security assurances however he was not willing to say whatç security assurances would offer north korea. last week, defense secretary james mattisas in singapore. he said that the idea that the u.s. troop levels in south korea would be on the table here, he says they're not part of these discussions. neil. neil: thank you my friend. rich edson, in singapore. you know these type of events are generational. americans -- hence the historic reference.
john kennedy met with nikita khrushchev and beijing china talks with richard nixon and mao tse-tung. 1978, meetings between israel and egypt. iceland, reykjavik, more to the point. ronald reagan and mikhail gorbachev. with ronald reagan politely saying no, i can't sign this. up he left. they did reconvene and did get to an agreement a th later, more to ronald reagan's liking. that was then. this is now. to the oddity of talks that begin tonight and tomorrow morning, of course singapore time. they are a few hours. they will not last a few days, a couple weeks. they are a few hours. then they're done. that's what we're told. the read from the formerç assistant secretary of state for president bush 43 robert charles. secretary, that is a big difference, isn't it. it is fuse a few hours and done, do you think they will stick to that even if it looks promising?
>> i think the average american should look at this confidence and also a degree of caution. two things to clear out right away to answer your question, sort of around the bend here, i think that the homework all has been done. you couldn't ask for four smarter people to be sitting in the room with kim. you know, don't think for a minute that pompeo, number one at west point hasn't done his homework. the others who will be with him equally. arohink allies areht there is no question that the state department is briefing up everybody up to the date. what does success look like here in the few hours that they have? i think if they can come away with a agreement on definitions. which means they agree denuclearization is either disarmament or elimination of those weapons in the capacity to create them, number one. number two, a next step which i think they already set in place, which is the idea that you will, you will have another meeting of principles. it won't be right away with
presidents but you go right to the next level. both parties that have aç meetg of the minds and when this is said and done both walk away with the perception they can agree there is mutual benefit getting rid of the nuclear weapons, perhaps economic and security benefit that china buys into that. that is the total ball of wax but at the end of the day, sitting down and engaging in this country, first time these two presidents, presidents of these two countries, ours and theirs met in 70 years is talk ses by itself it is tantamount with the meeting between mao and reagan and gorbachev. neil: with richard nixon and not they broker ad agreement. richard nixon triangulated the situation and pitted russia, soviet union against the chinese. that was then. there is a lot of speculation going into this meeting that
there might be cessation of stilities occurring between north korea and the united states all these many years and that that would the reason i mention it, secretary, it seems like the secretary of state mike pompeo wasn't mating something could be done and i was thinking of that. what do you think? >> well i think you're right. look where we are right now. there isç defacto secession rit now. the president moved in the right direction by engaging, boldly engaging. i think secretary pompeo is right to talk about that as a potential option. it would have to be part of a larger understanding that we have a mutual interest and that china shares that mutual interest in getting rid of all nuclear weapons on the peninsula. at the end of the day, you have to remember this is chess game. chess games can be won and lost in five moves or can take a long time and this is a process beginning. i think expectations need to be kept in check. for myself personally i'm more
optimistic than i have been in six months. i think something good could come out of it. neil: you say something good, cessation of hostilities, part of that would remove the reason why we have, you know, 30,000 plus troops, whatever it is at the demilitarized zone. would that put pressure on us to remove those troops or start removing them? >> the truth be told, we kept troops in europe for an awful long time. we keep troops all over the world today for stability purposes. they are a trip wire. they are also a deterrent. they are an assurance to allies no bad thing will happen. uhq you would love to see liberty begin to percolate in north korea and 10 years time we're look back, wow this, was tantamount to the reagan reagan-gorbachev meeting this trigger ad sequence of events that cascaded in the right direction. until you get so that point you have to keep all your deterrents
in place. neil: secretary, good to see you. we'll see what happens tonight, tomorrow morning, whatever the truth may b meantime let's get a read how chinaeally comes through all of this. the consensus seems to be in you want to know how the whole thing went and how it fared, look at markets, but look at specifically at age of markets. look really specifically at the chinese markets. of course anything that looks favorable to ease tensions in north korea client state if you will looks good for hang seng index and the singapore exchange, the nikkei, you could look at that and go to beijing and what have you, it could all cascade that way. we'll be monitoring those markets by the way real time as these talks ensue with my friend lou dobbs 7:00 p.m. eastern time. we pick up the baton at 9:00 p.m. until whenever. the read on all of that right now with brookings institution director of foreign policy research, michael o'hanlon, heritage foundation seniorç stes asian fellow dean chang.
hence that shows bert relationships period, forget whether you get a solid deal at outset, all to china's advantage, do you buy that? >> well the chinese want stability on the korean peninsula. a war is bad but also a collapse of north korea is bad. that means millions of refugees streaming into china. so they want that at the same time they're looking to take advantage of any openings that occur especially to drive a wedge between the united states and south korea. neil: michael, how much leaving the g7 and the war of words that just accelerated is that affecting tone of this summit or design, coming from the white house, send the chinese, north koreans, a message, look how we deal and talk with our friends? imagine what we'll do to you? what do you make of it all? >> well, perhaps it could be
interpreted that way in retrospect. i don't really have the sense that is what president trump meant by it when he started tweeting. frustration.e hearing his this president doesn't hold back, whether you're a supporter or critic -- neil: frustration over what? fn over what? justin true dough didn't say anything in those comments that he he hadn't said publicly before so am i missing something? >> i don't think you're missing anything, but doesn't mean that president trump wasn't frustrated. i'm not here to justify what he said. neil: understood. >> but clearly he got, clearly he got angry and got angry about a set of relationships he thinks as he said in his campaign is largely at the expense of the united states in economic terms. i don't necessarily agree with him on that point. that is what he thinks. he said it many times. obviously he felt some of the words that prime minister trudeau used, which i found pretty mild were somehow inflammatory. then he escalated.
i don't see it serving any particular purpose in advance. maybe there is a way to do what you said and remind the north koreans, this guy is capable of getting upset just as two weeks ago he was going to cancel the summit. i think that was more interpretation after the fact as opposed to a conscious design. neil: i should stress, michael, i didn't believe my own question. i'm just trying to justify seemed like an impulsive response. dean, i'm wondering from your vantage point, from michael's as suit observations something set the president off, had him doç 180, it doesn't presumably take much to set him off, doing a 180. if i'm the north korean leader or any confidantes i have to tiptoe carefully, right? >> i think president's willingness to cancel the summit he clearly was prepared to do is a message to the north koreans. you have a president who is literally prepared to get up and walk away from the table. if that is what -- that should
be a factor in north korea es negotiating stance with the united states. by the way that is probably also a message for the chinese as they look ahead towards tariff negotiations and the like. neil: i think if you say anything inpolitic or any slight zing here, michael, all bets are off. could take something innocuous as that have this whole thing unravel, what do you think? >> i think you're right to be concerned, however i'm not overall supporter of president trump i think his approach towards north korea is not all crazys not all bad. he alternates between the warmth which suggests he is willing to have a new relationship if things fall into place but also the bluntness and willingness to show a bit of emotional reaction as dean just said and you just said. i think that may not be a bad way to play this kind of situation and rather trying toç be straight and only let the north koreans deviate emotionally from one extreme to the other.
keeping themng, as long as we stay self-disciplined in our own mind and ultimate behavior i think that may not be such a bad tactic. neil: i was talking with a prior state department official before, dean, this idea of pressure limped time. not a tw week camp david accord or full weekth john kennedy and had nikita khrushchev.theret something done and that could work to both sides advantage. what do you think comes inis limited time? >> i have very limited expectations. the important thing there will be face-to-face negotiations bit leader buti don't expect a peace treaty or ev necessarily a final denuclearization kind of agreement but if they are prepared to have further meetings, if, trump, president trump doesn't just get up and walk , meaning that the north koreans don't put silly ideas on the table and expect us to take them seriously, i think
it will still have moved ball forward a little bit. not necessarily a first down but at least part of the way there. neil: i would agree. better to meet, at least come to know conclusion not to meet at all just leaveç the worst instincts to bear. having said all of that, michael, i mean do you get a sense now, that the markets are telling us something. they have been up through the worries about the g7 and fighting back and forth. up even with some of the cynical sort of reads what might come out of these talks with north korea. what do they see maybe nervous prognosticators do not? >> we have these debates how smart are the markets. sort of collective emerging consciousness of investors around the world. i think sometimes that can be don't think the markets arei smart on this one, we're trying to read future with have two unpredictable individuals and very, very unpredictable north korea. i was struck as secretarympeo
said at top of your news show, the ultimate objective remains, complete, verifiable, irreversible disarmament. doesn't mean that is the first objective. that is sign of flexibility that could lead to interim deal i believe is the more realistic objective here. neil: gentlemen, thank you both. we'll get the first hint of this 12 hours ahead of us here. meantime there is blowback i mentioned from the g7 summitç here. very real, very palpable. the canadians are very upset. it was one thing when the president was sending some nasty tweets back and forth t was right another one peter navarro said there is special place in hell like leaders for justin trudeau. canadians said, all right, that's it. ♪
neil: all right. add angela merkel to the leaders who are ticked off at the president of this iconic photo, many in the media saying they're dressing him down. i don't know what is going on down with the photo. he is the leader of the free world. they don't like his stance on trade. they're making it very obvious. i don't know what they're
thinking. leaving that aside, one of the things come up here, president not only said tweeted since what seemed like amicable talks with the world leaders, what he is seen, a worithout subsidies, tariffs or taxes or any of that, on any products. maybe the whole entire g7 trading zone could be its tariff-free, tax-free environment. the read on how likely that could be at a time we're threatening trade wars and big ol' tariffs that could make the dream go the opposite direction. republican sought dach senator mike rounds. senator, what did you think of that and the pzerident's goal eventually to there? >> i like his idea. if it was easy it would have been done a long time ago. i think the fact that he first of all, has suggested that he would impose tariffs and then also suggested now, let's get rid of all tariffs, you know, great idea. challenge is, then how do you make sure that everybody is playing fairly and you not have
some trading partners subsidizing some of their own producers? naturally they awill accuse us doing so with our own producers. by think the president got something accomplished here. i think he wanted to create chaos in the middle of this. from there he has the ability to step back in and negotiate, perhaps, better than what has been negotiated in the past. neil: is it your sense though that he should be checked on whatever tariffs he is considering, whether it is 25% tariffs on steel, 10% aluminum products, that it has to get senate approval? >> the act they used in this particular case was 1962 act was designed to enhance trade. the problem is is that since that time we've always assumed that everybody would have about the same interpretation of what national security issues were when you started using thisç particular, section 323 or 232 of the act.
challenge you will find here, individuals within congress may not agree with the president, that this is an appropriate use of that particular section of that law. neil: do you think it is, sir, do you? >> personally i think prospectively, not lookinback at what he has already done i think speculatively what senator bob corker is suggesting would be a good idea. i didn't like two parts to senator corker's proposal. number one, it retroactively went back and changed what the president already done, which i think puts us in weakened position. second of all it would require the president to get 60 votes in order to have any of his ideas approved for tariffs. i think 51 votes is a fair approach f it was done prospectively in the future, i might support it. i can't support senator corker's proposal, you retroactively go back to change what the president negotiated from. that puts him at a poor
negotiating position with our allies and adversaries alike. neil: canada is a ally. we could argue whether these o laws back at time of jfk applied to our national security in the wayç acanda would be a threat. leaving that aside, i what you make of increasingly hostile nature of aggressive back and forth between canada and u.s. officials? peter navarro, the prime minister, special place in hell for any foreign leader that engages in bad faith diplomacy with president donald j. trump and tries to stab him in the larry kudlow saying trudeau was sophomoric, stabbed us in the back, what do you make of that? >> i do not appreciate the hyperbole. those types of issues have to be done privately. we should have disagreements with our allies and not air the dirty laundry in front of everybody else. neil: you think justin trudeau stabb back because
i -- >> if you think about it, i don't know the rest of the story and based upon everything we've seen right now i was very surprised with the very, very strong response from the administration. but we don't know what the rest of the story is. i would like to know the rest of the do not likethe hyperbole because these are our allies. we need to be able to work with them in other areas besides just trade f we can have disagreements on trade and we can argue very, very fiercely and i like the idea that the president isç trying to make better trade deals. neil: right. >> this is also the same group of people we work very closely with, with regard to national defense issues. we do not want to have this falling over into other areas as well. so once would like to hear the rest of the story and why they reacted so fiercely and this hyperbole. neil: the reason i mention it, because before the president left, you know, the canadian prime minister said that canada would respond to these tariff threats on part of united states and he said it afterwards.
he did say that the united states was pushing canada into a corner before the threats. he replayed after the prident the same. nothing i'm hearing from canadian prime minister indicates anything sneaky or back-stabbing. there might have been to your point, private assurance given to the president he disavowed. not as if he didn't know his remarks would be beamed around the world including to the president united states, right? >> that's correct. once again i would like to know what the rest of the story is because as you say the response, the comments that he made he made before. neil: right. >> so what the reasoning was or what the agreement was we don't know. i would sure like to know what it is because the response from the administration really was pretty fierce, pretty intense. i don't think it added long term to fixing the problems. neil: sir, thankç you very much for taking the time. senator rounds. a lot is being made as well about the markets and how they withstood all the crosscurrents because they have. and what is equally remarkable
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>> back to "cavuto: coast to coast," nicole petallides live on floor of new york stock exchange. the dow is higher. looking at facebook with an up pair row on this -- arrow on this day where "the wall street journal" noted that facebook gave some companies special access to user data, additional data. in fact while we're seeing stock at 192.36, the talk secretly they allowed dozens of hardware companies to have access to friends data. this was supposed to stop. in fact back in 2015 zuckerberg told congress it cut off developers broad access to the information of users friends but
in some cases that was extended such as royal bank of canada and nissanç motor. fthe quarter it is a real winner, up over 20% but big picture this, is something now that congress wants to focus on, neil, i will tell you, i looked at analysts. over91% of them have a buy rating. they have a target of 222. that is 30 bucks higher than where it is right now. neil: i guess they're not worried. thank you very much, nicolepet pest. what to make of that. bet with. nicole raised a good point, if investors are worried about the privacy investigations seem to come out every day with facebook, they have a funny way of showing it, right? the stock doesn't fl it, despite all the media criticism, they are sticking with it. what do you make of that? >> you know, neil, i think it is interesting after zuckerberg won the war over data affecting
facebook's credibility, when he car up this technologically-inept congress after two days of testimony, that was pretty much it. it calmed customers on the spring. certainly calmed investors, felt that facebook bypassed its biggest obstacle. you look at the fact most investors recognize unless there is a clear and present danger most customers, most users of facebook are numb to any kind of implication of data on their lives. unless it affects either their family directly or their bank account or their jobs which -- neil: how does that break down? i talk to a lot of younger people who these days, for me, everyone i talk to because they're all younger, they all kind of say with a shrug of their shoulders, we compromise a lot, so convenient, so good to
have we can deal? >> well, that is exactly the point. is that, and they're right. i think that, we see this across the board. that, there is so much in the news on hacking and data and this has been going on for years, that, people are willing to make this deal, in essence, a deal with the devil, in some cases, with certain people. where they're willing to undergo the services that are at play. and they recognize that there will be some implications. but again, unless it really affects them, if it affects the bank account, their job, they're willing to just roll with it. and we're seeing that. investors haveok certainly recognized that, they recognized it after mark zuckerberg master any, with help of so many different people slade congress. that was citing incident that helped them regain their credibility. neil: well-put. eric, thank you very much.
i want to take your attention to singapore. a few minutes ago dennis rodman arrived. we don't know what le if any he will have with the talks. many say since he is a friend of both the president of the united states and the north korean leader he would be a nice guy to have around. for whom, i have no idea. he is there. he talked to the press. try to recue things up, to hear what he had to say. the world needs to know this. we are going to share this, after this mom and dad got a new car.
at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. neil: look who arrived in singapore, now. the party can begin. dennis rodman. listen up. [inaudible] >> could have been a disaster. could have been a disaster. trump could have said something
different. kim jong-un could have said something different. fair to say, both will see what is, it should go fairly well. people should not expect so much for the first time. like i said the door is open. >> exciting for you, mr. rodman, to be here? >> just exciting to be a part of it. that is the main thing. glad to be a part of it. >> mr. rodman -- [inaudible]. >> well, you know, as i say it is up in the air right now. they have bigger things to worry about than seeing me right now. [inaudible] something for a good gateway to see what is going on in the world. [inaudible] >> every time i see him it is always a surprise. tomorrow is a same thing. maybe it's a surprise. >> thank you, sir. >> all right. neil: all right. dennis rodman, hard to hear all
of that, exciting to be a part of it, that caught my ear. that is the way i roll. what does that mean? is he going to be a part of his discussions, he is one of the few on his planet with both relationship between the president of the united states and north korea. we don't know what is exciting to be a part of it means. we're following that hours ahead of the talks that will begin at 9:00 p.m. eastern time, 9:00 a.m. of course, singapore time. the markets are sort of on tenterhooks waiting to see how all of this goes. if they're worried about it, they're not showing it, like they didn'teflect any worry about acrimonious trade talks, acrimonious talks in general with our president own the way out with our some of our g7 counterparts. joe, first on the markets, what you make of their resilience in the face of all these worries, concerns, unknowns, what do you think? >> i think korea is a very small
country. north korea, has very little impact on a global stage. what is important is whether this meeting makes it worse than it is today. that is unlikely. what you have to remember we have two unpredictable leaders. that we end up in place that is not priced now. highly likelihood nothing really happens and they leave without any real resolution and there is possibility, very remote it gets worse. there is not a lot of economic reasons to do anything with your invests because likelihood of something really bad happen something very low. but again its exciting theater. we hope something great happens like they just denuclearize completely. neil: jack, how do you play something like this, or do you? i think most sophisticated investors i talk to say it is about earnings. about corporate fundamentals, the economy. these are outside events, albeit important outside events but no way to play them?
>> yeah. i agree. it is interesting theater. and it is very important. obviously i don't want to be too cavalier. you have to focus on the knowns. what are the knowns? well the global economy is actually on very solid footing. we're seeing better growth. ultimately that will dictate the direction of risk assets, equities in general. i think there is probably mor downside more than upside on successful talks. neil: when you say they are successful talks, they make a commitment say for future talks, would that be enough to keep the rally going or sudden len failure, the fact that is it, we're walking away from the table, one or both, i know that is extreme possibility, h would that play into your thinking? >> yeah. so i, again, continue to make progress and they set up and continue to do more talks and you know, real negotiation takes hold, that will constructive.
i don't think it will be a key influence on markets. versus if they walk away, after five minutes, kim walks away or trump does, you will see short-term selling but i don't think it is enough to derail what we're seeing in the equity markets. neil: joe, we're hearing interest rates going up again. maybe the federal reserve telegraphing pace of increases going forward. that would have more immediate effect, would it for you? >> definitely so. an area very few people are talking about is emerging markets. we're having a flattening yield curve as the fed increases rates. the yield curve getting very, very equal, which is not a great sign but of significant concern because europe is now starting to deleverage a little. and it is making cost of capital much higher in the emerging markets. i am concerned about talk of tariffs coming in. impact of high interest rates. what that means for emerging
markets where we have instability in argentina and turkey. we're seeing lose things on the edges. that could impact on us here in the u.s. neil: want to thank you both. breaking news we're passing along. keeping eye on it. a united airlines transatlantic flight diverted following potential security concern. we're not told what that security concern was, heading from rome i, i believe to chicago. that is all we're hearing f we hear anything more and what potential security concern was that is now diverted this flight to ireland we'll let you know. again apparently a security threat of some sort on a united airlines flight enroute to chicago that was leaving rome and will now make an emergency landing in ireland. more after this. ssing out after.
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written in the lavatory. th held everybody on board to see their handwriting. apparently everybody was onboard that 767 note was en route to chicago when the note was discovered in the lavatory. that is when they made emergency landing in ireland in the shannon airport. everyone still on board. everyone is still okay. we might stress they're trying to find out who wrote it. again, everyone okay. by the way, today marks the end of what they call net neutrality. a lot of activists and lawmakers say this could escalate. that this is not a fight that is over. connell mcshane with a more on this what are you hearing. reporter: supposed to go away after today, neil. which we've been anticipating some time. when you talk about net neutrality seems like we have to define it all over again to people know what we're talking about, basically a set of rules on internet would be equal. that internet providers could
not charge extra or slow down service or pieces of content over others. the rules go away. the question now will the service providers decide to slow things down? if so, how do they go about doing that? look at companies like verizon and comcast, they look, nothing really will change. they have such vast networks, people can get what they want, access to what they need just like they could in the past. fcc, that is interesting, the chairman ajit pai is making argument that the new system will be better and more transparent writing in a c a c nyet op ed, they will give entrepreneurs the information they need as they develop new products and services. transparency will. companies could slow down or increase fees. that is what opponents are saying. neil as always there is a
political component to all of this. there was a bill passed in the senate to put the net neutrality rules back in place. mocrats are pushing speaker paul ryan to bring it up in the house. it hasn't been brought up yet. so far, for today, the bottom line, internet has fewer rules. so there you government. neil: thank you, my friend, cornell mcshane. former fcc commissioner robert mcdowell with us to react to all of this. commissioner, what do you make of this. >> the rules are not going away. that is something that gets repeated over and over in news stories. what is happening here reverting back to the clinton-gore legal framework. where the federal trade commis department of justice still police anti-competitive conduct under the clayton act, the sherman act, the federal trade commission act. internet service providers can't charge you uncompetitive rates, anti-competitive exclusive type charges for faster service that would harm competition. they can't dot blocking and throttling. that is always alleged with
these stories. it gets very frustrating to hear time and again -- neil: can they choose which certain material is downloaded to you? >> not in anti-competitive way, no. doing something exclusive, favoritism, one internet service prover having aavored content provider, per se is violation of antitrust law. why before february 26th of 2015, before these title 2 rules that have been dumped down to be called net neutrality, before they were in place, that is why you had this amazing entrepreneurial explosion of brilliance throughout the internet ecosphere, an idea hatched in the dorm room could be one of the world's largest companies. why was that? legal regulatory framework there, low barriers to entry and all market conditions allowed for that. so what the fcc did voted last december 14th, to vote for rules in effect today, go back to the clint-gore policies
which worked so well. it gets confusing to folks that somehow consumer startups are not protected. they are protected. the internet was not born in 2015. it was born long before. neil: i understand that, commissioner, officially hearing whether the at&t, time warner merger goes through, if it does go through, wouldn't at&t apt to be prefer time warner programing and speed that to me than any other competitive program, as things stand now in right to do so? >> not in anticompetitive way, in violation of antitrust law, number one. would wouldn't have economic incentive this is 85 billion-dollar merger. correct me if i'm wrong, you're in the content business, your content is more valuable more people watch the program, not fewer people. you will not buy 85 billion-dollar company by having fewer people watch your content by restricting access. neil: unless you favor your own
content, right. >> right. then all of sudden you become less valuable. your stock price crashes and your whole business concept is destroyed. neil: you don't see in other words, that was paramount fear, commissioner, all of sudden this would give free license to the guys that control all the pipes to prefer what they want coming down the pipes, not what you want? >> remember when time warner, inc., twix, and time warner cable, twc were one company they didn't do that. you know the end of the world was supposed to come when aol and time warner merged in the late 90s and early 2,000s. that didn't happen either with all the same arguments y is that? a, the legal framework, and b the economic incentives just aren't there for that to happen. it hasn't happened with comcast universal. neil: at&t-time warner situation do you see looks like it would go through, maybe not? could be a -- on my part, if it
doesn't it changes a lot of dynamics for a lot of deals that could be pending including comcast? >> no, first of all the government had the burden of proof here in this trial. that is a very steep hill to climb. this is the first lawlawsuit to oppose a vertical deal in 47 years, almost half a century. there is a reason for that. there is hard to prove there will be a consumer harm or consumer welfare will be harmed by doing this. and i t the at&t, t government i should say, the government witnesses were really kind of destroyed on cross-examination in terms of, what is the you know lying theory here for saying that this content is going to be more valuable if fewer people watch it, that there is economic incentive to do that? we'll see. anything can happen i guess here in washington and has but judge lee on, the judge in charge is very much a law and order facts and lawe judge, no-nonsense. i think he will make a
intelligent, well-reasoned decision. neil: we'll know later on. robert thank you. >> thank you for having me back. neil: we're eight hours away from the big summit as the two leaders, kim jong-un of north korea and president united states sit down. we'll be monitoring it all. begins 7:00 tonight with lou dobbs, special two hour version of his show. we pick up the baton as late as long as it takes throught the night. we're a business network devoted to this. monitoring foreign market reaction as it happens. you can get one or the other places place can go or come to us, get it all, enrich yourself, look forward to a safer world. that's what we do. you're welcome, world. ...
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neil: apparently there's something going on in singapore you heard it here, but after much hoopla and discussion, and pomp and pageant are and concerns the whole party would be off it's going to happen now it's eight hours away we'll be there we're following this every step of the way in fact we'll be on all night for this because that's the way we roll. we will also simultaneously be sort of telegraphing how the markets around the world are doing the futures on our own stocks and markets here and that's sometimes not always, you know, accurate but it's a good way to gauge how people are placing their financial bets on the prospects for peace between these two countries that have
been in a state of war for the better part of 70 plus years. former u.s. ambassador to south korea, with us right now sir very good to have you. we got an unusually upbt sort of preview if you will on the part of mike pompeo who seemed to be saying big things could come tonight. what did you make of his remarks >> well, it was very encouraging because i've been fairly pessamistic going into this meeting. i've just been worried we don't have enough time to really nail down the detailed agreements that would commit the north koreans to denuclearization which is what this game is about pompeo did sound very upbeat. there have been expert talks for the last week led by former ambassador to south korea who really knows these issues, so you know i'm hoping that my possess a mix will be misplaced and they will actually get the north koreans to sign up to a
clear path to denuclearize the korean peninsula and change the whole nature of relations in the region. neil: what about just ending the state of war that's existed for three-quarters of a century now? >> well that would be good on the surface, but if you don't get to the source of the threat to regional peace and stability which is the nuclear weapons of north korea, then declaring peace would be kind of a misleading gesture, so i think the things have to be tied together. denuclearization and a peace agreement ending the korean war, formerly, have to go hand in hand and i think the president needs to be careful about giving a peace agreement before we are sure the north koreans are ready to denuclearize. neil: what if the north koreans sir, say do you know what? pakistan is a nuclear power now and you live with that, you're going to have to live with us being a nuclear power and we readily admit we aren't. >> well that would be unfortunately what a lot of
experts are predicting is going to be the outcome, and it could well be that he l offer denuclearization on such a vague set of terms over such a long period of time that effectively means nothing so again, we have to be very careful about giving them any rewards any incentives before we have it really nailed down with vair any indication that they're going to get rid of the nuke, the missiles, the infrastructure and it's a big complex task. it'll take years to actually dismantle everything but if they waffle in singapore i think the president will be expected to do what he promised which is to walk away. neil: now, this is just a few hours, most of the more historic meetings we've had whether between j jfk in vienna in 1961 up to camp david in 1978 which went for a couple of weeks or gorbachev and ronald regan which went almost a week
and ronald regan walked away from that one but they certainly were not just a couple of hours. it puts even more pressure on this particular meeting, doesn't it? >> indeed. as a former professional diplomat i always get nervous when you put the leaders in there without everything being prepared in advance and signed, sealed and delivered. it was considered a near miss in actually renouncing all nuclear weapons. gorbachev, however insisted we get rid of missile defense so reagan walked away. in this case there have been expert talks up in the dmz and now in singapore in the final hours leading up to this meeting so i hope they're getting on paper what the north koreans really need to agree to because this is not an occasion to wing it. i know the president thinks his instincts and personal chemistry can solve everything but this is a very complicated subject we need to have very precise language, very precise agreement s with verification or
it could be a disaster. neil: real quickly, sir he said over the weekend he could size up someone within the first minute, you know how it's going to go. what do you make of that? >> well that may be true in the business world, but remember what happened to george w. bush in hst meeting with vladimir putin. he said he looked into his eyes and saw his soul and i tend to agree with john mccain's version he looked in his eyes and saw three letters, kgb, so chemistry is a good thing. i think it was worth taking the risk for the president to start at the highest level rather than doing the usual years of bureaucratic negotiations but with that being said, follow the ronald regan victim of trust by verify and really make sure you know what the other guy is signing up for. neil: pressure is on. ambassador thanks for taking your time and your service to this country i appreciate that as well. >> you're welcome. neil: dennis rodman is in singapore so all should be well.
take a look. >> he could have said something different but i think that it should go fairly well but people should not expect so much the first time so like i said the door is open. neil: so what progress could we see dennis rodman is hopeful are others let's ask crtv host allie stuckey, cabot phillips. welcome to all of you. dennis rodman is optimistic but he's just cautious is that about the right posture to take? >> yeah, i'm not sure if dennis rodman is necessarily an expert on this but i do think it accurately reflects how most of us think even if you love president trump or hate president trump i think we have a reason to be a little bit cautious not just because we're
talking about negotiating but also because president trump said he's going to wing this and go off script and be able to walk in and just feel whether or not this is going to be a good deal. there's reason for criticism but it's cautious optimism as well as of course all of us want denuclearization no matter what side of the aisle that we're on. neil: cabot your thoughts? >> welcome to 2018 where dennis rodman probably has more insight on these negotiations that's just the world we live in at this point. neil: well he made more sense in that exchange as many diplomats do but i digress. this is true and it's interesting to see the lead-up, and one thing that's particularly noticeable on the left is the amount of people that seem to be hoping president trump is going to fail in these negotiations and i think that they don't just want him to fail many of them need him to fail at this point because of their credibility is on the line. they've been saying for really a year or two now that president trump is going to fail and his rhetoric is not going to work
and on the verge of a major peace agreement that entire narrative will be flipped on its head and for any american to hope for failure is counterintuitive. president trump fails to garner peace or in any regard it hurts all americans so i think we should all be hoping for the best and it's kind of concerning to see the way many people have not been. neil: well history is with parties in the opposition sort of second guessing the peace talks that are going on with the party in power but having said that, taryn, do you think this is on the left to see this all go? >> absolutely not. i think that's absolutely the most ridiculous thing i've ever heard. i mean when it comes to peace talks and denuclearization, niece are things we've been talking about for years. there is nothing more important to every american and i would say particularly on the left, they're no different than anyone else. we are all americans and the safety and security of our country is always firstmost, at the forefront.
neil: well what is getting to that -- >> about how he's handling that neil: you just said it there. you just said it there. i beg you to stop. i just want you to clarify and you did so all i'm just saying here is the questioning that has come up and its come up from a number of republicans although not nearly as many is that the president is going on a thought and the idea of sizing someone up within the first minute could be risky and that they're worried about the way he's going into this. now it would not be the first time people are worried going into talks about how they will proceed with sinicism around the reagan/gorbachev talks and a lot of sinicism around the jfk talk so this is not a first but what do you make of just those concerns that the president might not be ready? >> i mean of course i have those concerns like i said i think people on both sides of the aisle probably have those concerns but at the same time traditional approaches haven't worked in the past so maybe this is the kind of new dynamic
approach that we need who knows. he's kind of not president trump but kim jong-un is a kind of a leader that there's not really anything we can expect going into this dl. the best thing we can hope for is that president trump is successful whether or not we like his tactics going into it, the best we can hope for is that denuclearization actually is accomplished. neil: well that's one of the goals i just don't know in the limited time they have unless they extend it cabot, i might miss something that they do just that. what we can expect out of this and what will be deemed a success. i always think it's very good to have leaders talking because it beats the alternati but would you be wanting to see is there a hope that we see follow-up talks or that this is a continuation of a trend? >> i don't think we should necessarily expect to see some huge breakthrough here. i think hopefully this would be the start of an ongoing series of discussions and rather than feeling rushed and like they have to get a deal done just for the sake of getting a deal i
think ideally from a diplomat pepective they would like to see them take their time but ultimately you got to think of the big picture. whatever deal is i it to be something where there's follow through. i think when it comes with north korea like your former guest was saying trust but verify. not just take them at their word but continue these negotiations and whatever outcome comes about neil: you know taryn, what's remarkable when i look at the history of major historic agreements or talks, there's very little umph that the party in power got from them whether it's jimmy carter and democrats in 1978 with the camp david asman cord that was a big deal or even the success george senior had, kicking iraq out of kuwait didn't last very long, so i guess what i'm saying is do we overplay the political impact of these events? >> yeah, i think that actually 's november is election
is still a long way away even though we feel like it's quickly approaching and certainly 2020 is even longer than that, so i'm not sure what kind boost or deficit something not working out well here would have and so i think that's part of the reason why i don't think people are rooting for failure in any way, shape or form because i'm not sure that it's really going to have as much impact. the real impact is on the safety and security of americans if we can push forward and really have as the previous guest the ambassador said an iron clad agreement that's really going to have something we can follow through and know that we're going to work real steps towards denuclearization. so i don't think the political blowup, good or bad, is going to be something that can last all the way to november and certainly all the way to 2020. neil: all right guys i want to thank you all very very much. again the dow up about 78 points right now and a lot of the issues leading the way are those that will benefit from an improved trade posture in that neck of the woods including in the asian community, the chinese
markets of course will be the first to feel the positive impact if a deal goes through or any talk of the deal, that's something we'll be watching live tonight because not only are we covering this al night but we are monitoring how foreign markets are responding in realtime to what they're hearing you can only get thate. more after this. this endangered species is getting help from some unexpected friends. these zebra and antelope. they're wearing iot sensors, connected to the ibm cloud. when poachers enter the area, the animals run for it. which alerts rangers, who can track their motions and help stop them before any harm is done. it's a smart way to help increase the rhino population. and turn the poachers into the endangered species. ♪ ♪ that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen.
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neil: all right, well, i don't know the wheels are off the wagon after that g7 summit what there was of it now we're not talking to each other we're saying, you know, very horrible place in hell for the leader of canada and that's just for starters. hillary vaughn at the white house on how quickly things deteriorated and why. hillary? >> neil, things are escalating really quickly. president trump sounding off in singapore, he's prepping for a historic meeting with north korean leader kim jong-un but he still has trade on his mind. late last night, sending a furious tweet calling out world leaders he hung out with at the g7 summit in canada. now fallout from the meeting triggered a domino effect of backlash from allies, france, germany including the eu that pred retribution for u.s. tariffs but the president is not phased targeting canada and germany in tweets after both
leaders lashed out at the president, german chancellor merkel calling trump's showdown at g7 "depressing" and canada prime minister justin trudeau calng trump"week and dishonest." now in response president trump began picking off a list of tariffs america's northern neighbor tax on american goods including a 270% tax on u.s. dairy and also put pressure on german chancellor for uneven policies including the u.s. out paying germany in nato contributions 4-1 white house consolidate. >> laura: kellyanne conway says earlier today on fox that people should not be shocked over this testy trade talk. >> the idea that the president is going to go to g7 wherever it is in this case it was in canada , and do the talk of other types of perhaps leaders in the pastor even other leaders in industry, it's just not donald trump.
>> also saying the president is not a fan of multilateral trade agreements he thinks he can get a better deal if he negotiates one on one with each country. all part of the process, neil? neil: so there's a method of this, hillary vaughn thank you at the white house right now. whether this is a good or bad posture to take, whether headed from tariffs worldwide to go from bad to worst markets sheep to be shrugging their collective financial shoulders to susan li on this, ashley webster on this. ashley it is remarkable i like to say they have a funny way to show it. ashley: if ever there was a week that the geopolitical issues could disrupt the markets this could be it the g7 summit going to singapore the markets are getting used to donald trump i don't think the markets don't believe, you're smiling at me susan, markets don't believe, that there's a huge trade war. there's going to be tariffs flying left, right and center
and ultimately the markets believe that things will get sorted out. those that don't believe anything much will come out of this first meeting in singapore with the north korean president. if they thought something was going to go awry you'd see the markets dropping. on the other hand if things start working in our favor and donald trump and there's a lot of method in the madness i think , markets will take off from here. >> okay well i'll take the counterpoint on that. well i would say there's some mild tensions maybe the political risk trade is back on if you take a look at the yield so we're still below 3% even though there's a 95% certainty they raise interest rates this week by the federal reserve right? and also those money flows. take a lack at where money is flowing to and if you look at the russel 2,000 which hit a record last week, money is going to small caps which generally isn't as affected as multinational large companies that have global trade, so that's telling me there bit of a political risk/trade on. is that huge?
neil: it's not that they're ignoring thets right? >> and the dollar came down as well versus the g7 currencies over the weekend. ashley: i think the calm says the whole story and if there is money pouring anywhere it's into the united states whether it's small or large caps it doesn't matter europe is continuing to grow at a glacial pace. ish is a light, japan is stuck in whatever decade it is and the u.s. is the place to be for equities. neil: a couple of weeks back now he's got the president's wrath and the president seems to in you mate he's a phony little worm right? >> your words or his words? neil: no tha kind of what they said. peter navarro said there's a special place in hell for any leader that engages in bad diplomacy with president donald trump. and nothing you heard was different than what i've heard in the past. he promised canadians would respond to these tariffs and he said it before he said it
ardso do y the genesis of the reaction the president had that what he heard eard before because wet he actually researched this and found out that he has been consistent, that is the prime minister on this subject. >> that's correct. he's recalled what's happening with the tariffs on aluminum and steel insulting. he says we are going to pushback this is nothing new but i think larry kudlow mentioned on cnn on state of the union when he said we felt stabbed in the back the president doesn't want to look weak going into the north korean summit. neil: well i know the canadians don't like it and i know -- >> and they're polite people as justin trudeau pointed out. neil: fine but i'm sure unless he said something different and private that president that he hasn't said in public before or afterwards but it's not as if his remarks aren't picked up worldwide speaking before a microphone. >> right so i thought at the event when there was a face to face bilateral meeting between
the two but then the u.s. president also went on to tweet about germany and the uk and the eu and france. everyone was involved. i felt like he probably felt g7.be a bit ganged up on at the neil: well he was though right? ashley: yeah but to your point, neil i don't know what was said perhaps in private by mr. trudeau that he actually gave a 180 on. neil: that's the only thing i can figure ashley. i'm going to, you know, see if we can work this out and then he developed tha ashley: yeah, i'd like to know what that was. donald trump is uninterested in a relationship with anybody. that's very clear. he just wants line by line, pulling apart every agreement to every country what hillary vaughn just said and rewrite it at least on a fair, equal footing. neil: what about his other argument guys pursuing there was a strategy to this to send a message to the chinese and north koreans who were serious? we even deal with our friends
this way. >> right our longest-snding allies this way. yeah that's probably posturing as well trying to look strong, headg into a veryy important meeting. neil: well maybe the president is just moody. >> well okay i'm going to play devil's advocate. what happens behind closed doors maybe there was an arrangement and there were exchanges. neil: all i could figure -- >> but how is that different from the mo or the president then? neil: well i don't know i'm asking. >> [laughter] neil: but you raise a good point i don't know. it just doesn't add up. ashley: it doesn't but it's obviously something the person has a thin skin so maybe something -- neil: what do you mean by that! ashley: i'm sorry. neil: all right guys i don't know it's weird but you know, who could second guess here, it's got these guys sitting at a table right now something that's never been done through conventional means we shall see. okay, thank you both very very much see you tonight. we're all going to be burning the midnight oil here in the meantime we could be moments
neil: all right, the deals go on and every amount of waiting for this decision on at&t and time-warner whether it goes through i think tomorrow we'll know charlie gasparino? charlie: 4:00 tomorrow is when judge leon of the federal district judge is ruling on this deal whether it's proper or not. there's three possible outcomes here. he says yes it's a great deal let it go through it doesn't violate anti-trust laws merging a big distributer, at&t with time-warner with all that allegedly great content. that should usher in deals all sorts of deals and we'll get to one of the main ones in a minute and then there's one where he says no, never going to happen. we don't like this, it violates
anti-trust lawsnd we think it raises prices that kills a lot of deals probably including some of the ones we'll talk about in a minute and then he splits the baby so to speak and issued a ruling where time-warner, at&t can buy time-warner but it can't prevent certain distributors from getting the content of time-warner. it has to give it to them at a cut rate price. there's all these conditions and that's where, that will be -- neil: that will be tougher to read. charlie: there will be grey areas but here is what we do know. all things being equal, there's a lot of deals pending including one deal involving our parent company, 21st century fox, which is trying to sell its entertainment assets, everything but us and a few other properties, to disney. neil: right. charlie: what bankers are saying pending this ruling is that we are in play right now in a major way, that yes, comcast is on the sidelines. it's going to bid probably even if there's a sort of grey ruling
with at&t. neil: but not if there's a rejected ruling. charlie: they might even do it then. i think they'd be stupid to do it because the justice department hates comcast, hates the model they're basing their attacks on the comcast model that includes nbc, universal and comcast and they think they rip off the customers doing that that's what they think i'm not saying i agree with it but if there's a grey ruling or positive one for at&t we are in play a lot of people -- neil: it'll be a bid bidding war potentially for comcast? and i'm a fox entertainment shareholder. charlie: you're buying lunch today based on where the stock is. neil: not for you. charlie: and maybe others, what bankers are saying we're clearly in play. if you think about it who would the others be? possible tech companies? maybe apple needs to buy? neil: how come that name always comes up. charlie: because they want to get into the content business and here is the reason why bank ers say we're in play and there are other potential bidders.
they haven't come out yet, we have to call apple. here is why. there's only a few places where you get premium content and if the play isontent right now, if apple wants to compete with amazon and netflix it needs content. where are the likely places you lo at the chess boards not a lot out there, cbs would be out there but they have to do this dance between cbs and national entertainment and whether they get freed up a merger with viacom so we're out there, all eyes are on us so a lot of people say we are in play, if there's a grey or positive at&t outcome, and we're in play in a major way. neil: what if the at&t deal goes through with time-rner the way it's expected by and large, we're obviously still in play but other categories and players come into this. charlie: well then you have verizon looking at cbs. if a judge allows this -- neil: that whole area has been. charlie: remember the old days they say vertical mergers are good meaning you have different types of companies merging together, because there's no
overlapping and no way to create a monopoly. the justice is department is saying when you have a big distributer, different product, content, different product if you merge that together you could control the content and basically squeeze competitors that want that content. if that happens if they go through how could comcast legitimately mid for us? they're basing their whole attack on the nbc model so i'd say listen here is the whole thing. markets are always surprised by thins betting is that it's going to go through or possibly se grey area and then the bidding war starts. if that does not happen -- neil: because these are publicly traded company in our case even though the murdock family has controlling shares you can't ignore these type of overtures and you have a fiduciary responsibility here. charlie: and by the way just how much you could ignore or you have to listen to your shareholders if you're the controlling shareholder is being played out in court right now in the battle between cbs and
national entertainment sherry red stone and that is being played out right now so it's not a slam dunk. if it's positive for at&t in any way, look for the deals we are in play. bankers this is what they're telling me more than just comcast is interested there might be others if it's a negativities a price of the market and all these stocks come crashing down tomorrow. neil: and you don't want to give your competitors the content they need. disney can't allow that to happen with comcast. charlie: at&t tried to make the case if they bought time-warner they have every intention giving it to everybody, and why would we want to deprive us of those revenues so in order to get the maximum out of those revenues it has to basically squeeze the other side. that's the way this deal works if they make a lot of money with premium content that people have to pay up for it, so i could see the justice department coming down a lot of different ways on this. i will say this everybody that
witnessed the trial thought the government lost. just so you know but then again -- neil: i've seen that like almost 600 days. charlie: a long time but tomorrow is d-day. it's interesting coming the same day as the north korean summit. a packed news day. neil: thank you very very much charlie gasparino. all right, the managine director of the list of european voices furious at donald trump. the germans are upset. the french are upset. you already know that justin trudeau is upset. i mean it's getting bad. the president doesn't seem to care, should you? after this. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. touch shows how we really feel.
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than good so they want to check him on this sort of stuff and leave it up to congress to vote yes or no on the tariffs he's considering. i'm oversimplifying it but let's get to the core of the issue with the republican congressman ted yoho. cong very g have you. >> hey, neil how are you doing? neil: i'm fine sir now you're among those concerned the president might be going too far do i have tha right? >> no, you don't just on maybe zte and things to deal with china. as far as the tariffs i think we need to have a balance because there's such an inequity and i'm sure you listened to the president's speech after the g7 summit. i thought that was phenomenal. neil: so you're okay with tariff s to respond? >> absolutely. yes. neil: so i apologize for getting yours wrong but some of the colleagues in the senate like bob corker most say at least on this, congress shouldn't lose its ability to at least weigh in on this and they're concerned the president could be going too far and maybe starting a trade
war. >> well, you know, if you look at the inequities we have with let's say china, $370 billion, we've been under water people talk about a trade war, neil we've been held under water we're coming up for air and there's going to be an investment. neil: but i'm talking about canada, germany and the european s do you think that is fair? >> i think on those things that there's a strong imbalance, we need to put the tariffs on there to adjust things. free-trade everywhere, but with the inequities that there are we can't have that and if you heard the president at the end of that summit, he said we used to be a cash-rich nation and i remember those days as you do, and we haven't been that way and that's why we can't do a lot of the things we are and he talked about getting america back to a positive cash balance sheet and that's something we're yearning for in this nation and also something we need to get back to to get our mandatory spending
under control so that we're not laden by this debt that'll go on not just for our grandchildren but for generations to come and that i truly believe that this is the beginning to change that. neil: it might be, sir and i don't mean to be rude here but when i hear larry kudlow calling justin trudeau is stabbing us in the back and peter navarro saying there's a special place in hell for any foreign leader that engages in this bad-faith diplomacy, referring to justin trudeau, whatever you make of the politics or the leader of canada he does represent our closest trading partner and the one with whom we've been running a surplus so what heck? >> right, well again, everybody has their own techniques, it's probably not you and i would do but i think at the end we're in the moment and i think six months from now when you look back at this you'll say this was a good deal and -- neil: well in the moment i would
never say a special place in hell for you i wouldn't do it. >> you and i wouldn't do that. neil: he's the president of the united states, congressman. >> i know it. i realize that, but also you've got to think his rhetoric has gotten us where we are with the korean deal. if it wasn't for him, we probably would not have this negotiation. neil: you might be right and they are sitting down to talk i'm just wondering whether this burnt bridge approach when it comes to our friends and by the way they're all just acting like the pope and some of them do rig certain products but in the case of the canadians and i'm far from them i just realize that you know we run a bit of a surplus with them so so i can think of bigger targets. >> i would agree with that but the inequities that are not balanced around the world, i think this is a good starting point and as we move forward i think you'll see these things adjust and like i said this is the now, six months from now it'll look totally different.
neil: so you think there's a method to this madness not just that he's mad or crazy? >> oh, absolutely. i saw that documentary might be on your channel and it's the way he's been all of his life. he's come out and he's had strong rhetoric and its got him where he is. it's like on any other leader we've had before, but it's a welcome change because what i can tell you when i've sat with him, he loves this country and he's putting this country first and standing up for this country he may have a little bit different way of doing it than you and i would do but i think the end result will be good. neil: knock-on wood, congressman you and i can maybe disagree on that particular approach but it's always good seeing you sir i appreciate it. >> take care, neil. neil: all right that summit now we're close to about seven hours away what's in-store and what are the things you watch for the president has already made it clear that he can get a pretty good idea within the first minute of sitting down where it's all going. can he? can you?
i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's basell practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. neil: forget the whole north korean summit with the united states. you hear about this ihop thing? it is the self of international
confusion, jeff flock in evanston, illinois, jeff what the heck? reporter: here is the headline, neil and i hate to break it to you, but they're not really changing their name. ihop, you know, to ihob, why is that because now they're the international house of burgers? there's the logo to the chain? well it changes on twitter. it changes in marketing for the big signs, you know, there'se 1,700 ihospitals across the country do you think they change all of those signs? no they're not it costs way too much money but they are trying to push the notion they're in the burger business. mcdonald's with their all day breakfast has cut into ihop's profits and they said well you're going to mess with our breakfast we're going to mess with your burgers and i had one this morning for breakfast which actually was not bad and i'm not a big burker fan so they're doing these steak burgers and
that also doesn't mean that they're out of the pancake business. it's going to stay on the sign, and it's going to stay in the restaurants, the president of ih op was on with fox & friends this morning to break the news. listen. >> we're always going to have pancakes on the menu. we're always going to be ihop, but america loves burgers and america loves ihop, and we thought this was a fantastic combination to bring america's burgers to an iconic brand like ihop. reporter: but they're not really changing the letterhead, not contacting the securities and exchange commission. in fact this whole ihob business may be short-lived i take you to their press release which says i hop flipped the p to a b and their iconic name for the "time being." i asked one ihop official this morning and said is this just a giant marketing scheme? he said well it worked didn't it
neil? neil: it's a very good point so you're saying if they don't really change any signs, you can have your pancake and eat it too reporter: and eat your burger too exactly. neil: if it's a story that matters to the world, it matters to jeff and i guess this story matters. all right, thank you. could you imagine the leaders for north korean and that would not be a bad idea. it's very bad. all right, jeff flock, by the way, one of the things we've been dangling to the north koreans fast food comes to north korea but mcdonald's could come to north korea i don't know maybe an ihop, whatever let's go to john layfield who follows these developments quite closely and that's an a luring possibility isn't it? >> it is, and it's a luring possibility to us.
you look at how different countries have changed over the years you look at the soviet union, the former soviet union now russia and china. what we did was allow capitalism to go into those countries and you see them of course freer. they're a much freer democracy than 30 years ago but then you look at cuba and north korea and isolation there's basically no change just an entire country and people and i think allowing free markets and capitalism to go into these countries like north korea is a very good thing neil: i'm wondering looking at these markets of the continued run-up obviously they're very confident they like the under pinnings here it's improving the president's poll numbers which got this unusual sort of view from bill mar on what it would take to undo a trump presidency i want you to react to this. >> i feel like the bottom has to fall out at some point and by the way i'm hoping for it because i think one way you get rid of trump is a crashing
economy, so please, bring an the recession. sorry if that hurts people, but it's either root for recession or lose your democracy. neil: what did you think of that >> i disagree with bill mar. it's a zero sum game that if the president loses the democracy and will mar is a very talented comedian, he is incredibly entertaining, but so partisan that he's actually now rooting which is shocking rooting agains theountry itself because he doesn't like the president in power i have a lot of things i didn't like about the last two presidents but i never rooted against the country i think that's how divisive our politics has become and something needs to change. neil: you know i always think of these things john. he just put the voice, what in the past has been the view of the opposition party that you don't want a gangbusters economy when you're trying to steal seats away or take their power away so he just put a voice to that but having said that do you
see that as a possibility because i just see economic numbers get strongernd stronger i'm not saying that the president is doing or anyone else is doing but it is happening under his watch and generally benefits the party under his watch. what do you think? >> i don't see it happening my mid-terms for sure. we'll probably be at 3.7% unemployment which is the lowest in 50 years since lyndon johnson which didn't come after the 64 tax cuts that were carried out by president johnson and that's a huge number going into the mid-terms historically the president's party loses in pact 35 of 38 times the president lost seats at mid-terms so historically republicans look like they lose this election but that 3.7 number and the economy is certainly going to help. neil: yeah, they will lose seats but i don't think and i've said this just i don't think they will lose the house, if anything they will gain in the senate, and that will be deemed the democrats a big disappoint. this blue wave never
materializes and the only thing i'm basing that on is improving economic numbers what do you make of it? >> i agree completely people vote with their pocket book and that was the reason that president trump got electedo begin with it's what happened in england with brexit and happened in theresa may's latest where he poll numbers were so wrong. people don't like the political status quo and the one person that is not status quo is president trump and that's one of the reasons he gotlected. neil: do you worry about the fall off from the g7 trip and the nastiness back and forth? >> absolutely i worry about the trade tariffs, i worry about a trade war happening that the market apparently is not worried about it whatsoever. they think it is just negotiation and hopefully that is what it is. neil: all right, that's hopefully all there is to it is right. john layfield thankou ver very much, just in case something happens and he's ready for all contingencies thank you very very much john. meantime we're at 52 points at the corner of wall and broad so this continued runup is about 2%
for the major market averages in the last couple of weeks with all this trade talk and war and nastiness and back and forth and quitting summits and prom iting not to go back to summits, markets just dance on and so should we, after this. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way copd trieso say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way
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the north korea summit. again the markets have been advanc these are people that put money on the line. they will do so tonight in real time as stocks ensue in asia. we'll follow all of that tonight on fox business. right now to trish regan. hey, trish. trish: hey there, neil. history about to be made. breaking, everyone, we're seven hours away from this historic summit between president trump, the president of the united states and kim jong-un of north korea in singapore. the president is going to be looking at his very first, any first i should say sitting down of a u.s. president with a north korean leader. all of this coming as we look at a market up 61 points right now. investors not reacting too much one way or the other. this may be a wait and see. they need to see what comes out of this big summit in singapore. i'm trish regan, welcome,