tv The Intelligence Report With Trish Regan FOX Business June 18, 2018 2:00pm-3:00pm EDT
ralph kramden of the honeymooners, right to the moon! you have to remember that of those of certain age. trish regan is not in that camp. very, very young. trish: i heard the stories. i've heard the line. it was a good show. thanks so much, neil. breaking right now, everyone, we're about to hear from inspector general michael horowitz any minute from now his explosive report on the hillary clinton email probe. the report shows how the fbi damaged the very integrity of its own institution. not good for the country. as we look at a market down 140 right now amid trade fears. a lot of concern about a potential trade war. i'm trish regan. welcome, everyone, to "the intelligence report." ♪ trish: happening right now a senate panel will grill inspector general horowitz and fbi director christopher wray on
that 568 page report. it is happening any minute from now. we'll monitor it as it goes on. we'll bring you updates throughout the hour. don't go anywhere. an important hour ahead. my intel on the explore is sieve report, how several fbi officials handling the clinton probe had a bias against donald trump and anybody that would support him. and why this all may actually tie back to robert mueller's russia investigation. that's coming up. breaking right now, president trump firing back against lawmakers criticizing his zero tolerance immigration policy. president telling his critics, if you don't want to see parents and children separated from the border, go ahead and change these laws. more on all of it. go to our edward lawrence on capitol hill where the hearing has just begun or about to just begin. hey there, edward. reporter: trish, within the last minute the hearing has been
gaveled in. happening behind me. christopher wray, current fbi director and inspector general michael horowitz are in the hot seat behind me. republicans and democrats on the senate judiciary committee want to drill down into the explosive bombshell inspector general report released on thursday. the report really centered around james comey, former fbi director and his role, calling him actually insubordinate at one point talking about the clinton email investigation. also saying that he deviated from normal fbi practices. within that report it really zeroed in on text messages between the man formally in charge of the email investigation, and his mistress, former fbi attorney. how they went back and forth, how they would make sure president trump would not win the election in this case. now the house tomorrow, tomorrow the house will get their chance, house judiciary committee on exactly what happened here. the chairman of that committee says that he is very concerned about what he read in this
560-page report. >> this is what is most important to me. those two presumed and pronounced hillary clinton's innocence before her investigation ended, and they presumed and pronounced donald trump's guilt before the investigation even began. so when you have that pervasiveness or bias, yes it is going to help the person who is complaining about the investigation. reporter: now in the report it says the inspector general turned over five other names for the fbi of possible discipline because of possible bias in messages sent back and forth. the republicans in the committee are expected to drill down on the bias issue in this. the democrats saying the report overall said the conclusion of the email investigation into hillary clinton's email server was not biased, therefore no further prosecution is needed going forward. it should be a very contentious hearing in about five or six minutes from now. trish. trish: i know you're there.
we'll continue checking with you, edward as all that gets underway. i was out on thursday when all of this news came forward what a day to be out. i saw this coming through the wires. my goodness i guess it really confirmed our worst suspicions, that many people in the so-called deep state that have these biases. their own biases. look i get it. we're all human beings, right? everyone has a bias one way or another. but when you're working for the fbi, and you're handling something as sensitive as presidential election, time to put that bias aside. or maybe it is time to at least recognize your own bias and then say, i need to excuse myself, or i am going to work aggressively to make sure that i see all sides of this because i know how i personally feel.
no one did that there. and that's what is so disturbing. i want you to see, here is one text from an fbi employee. trump supporters are all poor to middle class, uneducated, lazy, poss, that think he will magically grant them jobs for doing nothing. so first of all where to begin. jobs, hey, at least his supporters, by the way, want a job. i could say something very different about the handouts that those on the left think that somehow the rest of america should provide. so trump supporters want a job. to call them poor to middle class, the disdain that so many of the elites have for the people that make this country is pretty abominable.
it really is. this text from someone there in the fbi kind of says it all. they don't like the people that they're serving. they think most of america is somehow beneath them. you know peter strzok and lisa page, the two infamous boyfriend, girlfriends, i will not use the other term, they went so far as to say trump's not ever going to become president, right? and the reply there from peter strzok, no, no he will not. we will stop it. you know, they can defend this however they want. i think peter strzok is saying it is not what you think it means but the words certainly don't sound very good. and whether or not there was a joke going on, we don't know that. we just know that peter strzok is telling lisa page, we're not going to allow him to be president. which brings me forward to now
what's going on right? this investigation shows us that there was bias in the fbi. but what this investigation didn't look into is whether or not that bias is in fact what got us to the mueller probe. i suspect it had something to do with it. that is what is disturing here. because this threatens who we are as americans. this threatens the integrity of the fbi, that institution, and the integrity of the transition of power. so that is what they need to get to the bottom of. why did this investigation into the whole russian collusion thing really happen. because they saw donald trump and vladmir putin have been putting on a scheme to rob hillary clinton of the election? or is it because people in government did not like
donald trump becoming president of the united states. joining me right now republican congressman from arizona, andy biggs. representative biggs, so good to have you here. why do you think it is? why do you think we're dealing with the mueller probe when it's clear that there was very apparent bias there in washington, d.c., against the now president? >> well, we're dealing with the mueller probe as you say, you have the guy who is basically running the hillary clinton investigation, peter strzok, he hates donald trump, he wants hillary clinton to be the president. you have the director, mr. comey, and he is, who knows where he is. he is off the reservation. he is insubordinate, doing his own thing, he says he manipulated, he said this previously, he manipulated to get a special counsel there of robert mueller to investigate trump. trish: he openly admitted that. >> yeah. so what you've got going on here is this corruption, if you will at the very highest levels of
our law law enforcement and our attorney general because you got the bruce ohr thing going on over there on the doj side. so this is the outrain just conduct that we're trying to get to and the ig's report, i think it was anti-septic but an attempt to get there but it doesn't really tell us really anything more than things that we probably already knew except for, how deep the bias went. as you pointed out. this is going on at the highest levels who are making decisions on these investigations. but for what was going on in the hillary clinton investigation, which is what the ig reported on. trish: like they want to destroy the will of the american people. they wanted to destroy the whole process we have to elect the president. they think we can because they look their nose down on people that voted for donald trump in the first place, which is what that one fbi text revealed. >> yeah. trish: so what happens?
i mean how, how does america figure out, find out exactly why, why we're spending so much time and effort trying to paint the president as somehow in collusion with the russians so as to rob hillary clinton of the election? >> well, what we have to do, we have to admit that the ig's report, he can't bring charges against anybody. that is why it ends up being anti-septic, plain, blase. what we need is a second special counsel which many on the judiciary committee in the house have been asking for many, many months. you have to do that to peel this back. the other thing too is, director wray and attorney general sessions said if they saw mishandling of the hillary clinton investigation in the ig report which has been confirmed now, they would reopen that investigation. when you don't do this, it undermines the rule of law in america and that really shakes
the foundation of this country. trish: well-put. congressman biggs, thank you. >> thanks, trish. trish: later on the show, the left very eager to picture the white house's zero tolerance immigration policy as utterly heartless, then again, how are you a country if you do not have borders, if you do not enforce your borders? we'll debate that very issue. we're watching dow down triple digits amid trade fears. are we heading into a trade war a real one? what would it mean for our economy? our panel weighs in. i will see you here next. ♪
trish: all right. a market down triple digits. 131. the loss on the dow, amid some concerns, you can see nasdaq trading down, just barely and the s&p off about a quarter of a percent. there are concerns about a trade war, potential trade conflict between the u.s. and china. that is putting renewed pressure on stocks. you also have investors worried about quarterly earnings and thinking that they may have peaked and it will get tougher as we go through the rest of the year. joining me to discuss all of it, we have none other than than our very own hillary vaughn, live at the white house, along with the
panel coming up. hillary? >> trish, white house counsel economic advisors temporarily -- kevin hassett says we're in position to over $50 billion in tariffs of chinese goods because he says a strong economy is letting the president talk tough on trade because the white house knows that the economy can take it. hassett saying quote, right in the middle of a financial crisis we added some uncertainty over exactly how these negotiations are going to work out then it would be pretty harmful but right now the economy has a lot of forward momentum. secretary of state mike pompeo is saying today that china is engaging in predatory economics saying they use investments to exert political control over rival nations and the u.s. as diplomatic leader has a responsibility to stop it. >> chinese leaders over this past week have been claiming openness and globalization, but
it is a joke. let's be clear. it is the most predatory economic government that operates against the rest of the world today. this is a problem that is long overdue in being tackled. reporter: tighting tension between the u.s. and china could pave the way for a new trade friendship between japan and china. japanese prime minister shinzo abe saying this month he wants to build up the friendship to build china and japan. this comes as president trump's tariff against chinese high-tech goods could have a spillover effect against japan. last year they shipped 13billion dollars in japanese exports to china. some included my tech parts used to make tech products headed for the u.s. including apple iphones. secretary pompeo reminding global trade leaders that is the president is not against a zero percent tariff process but his argument that other countries
need to take the first step then america will follow. trish. trish: thank you so much, hillary. joining me with more moody's chief economist, along with "collusion" author, naomi prince. good to see you both. of the let's play out this a little bit, i don't actually think, i let me preface this, i don't think we'll be in the find ourselves in a gigantic trade war because we are too important. we are the world's number one customer. they need us more frankly than we need them. we have leverage, and we can use it. nomi, what is it of a trade war, why people get rattled here when they think china will put tariffs on all the good going into china? >> trish, i think the main issue with any of these trade war uncertainty is the volatility it brings into the market. that very tension you don't know, we don't know where it could end up.
show we're strong, we have a good economic position, china is growing as well. china is basically as was mentioned putting a lot of money into investment, manufacturing, production and technology. and they are creating tighter relationships with japan so the uncertainty of how that i can shakes out is i think what is bearing more on the markets than what could actually happen. trish: john, how are you thinking about this right now. are you worried we'll be in a full-blown trade war? >> i don't think so. look at markets not forget the blue chip dow jones industrial average is down 8% since this became issue on friday. overall market down .3 of a percent. of the russell 2000, domestic oriented countries, no change whatsoever. we have to be careful extrapolating bad news with the ongoing trade rift with china. as you mentioned, it would be
crazy for the chinese to behave too harshly towards americans when it comes to u.s. exports. after all, we import half a trillion dollars worth of tangible merchandise from china. 552 billion, what do we export to china, only $130 billion worth of merchandise. trish: that is interesting point. so, we do have leverage. now we're actually using it, perhaps, nomi, previous administrations had said, hey, china, we're not going to go along with this, you putting tariffs on our foods and us not doing so with you, if previous administrations had sort of set the tone, maybe we wouldn't be where we are, but nonetheless, now it is a complete shock, shall we say for some of these countries to say, whoa, the united states doesn't want tariffs on their goods? i mean why were we willing to go down this path before?
>> i think it's because the immediacy of what's happening now, we're going to enact these tariffs, this is what is going on. we'll enact it right now, china retaliates because have another 50 billion, because europe has their retaliation, nafta, other countries besides the u.s. has theirs. that becomes more inflamed environment. these are the goods and services that we need to really focus on in order to have fair trade between all of the countries and the negotiate that. and china has had their own situation. they are very aggressive growing their economy and trade relationships with other southeastern nation countries, south asian country as well as latin america countries. they're trying to grow that. if we get to point of zero tariffs amongst the entire world, that could benefit everybody's economy. trish: that's what i'm for. >> that can be a good goal. trish: you, so there was a time, perhaps time and place in
history, right, john lonski we didn't care so much about china putting these tariffs on because china's economy was quite small. we're obviously in a different day and age. if we continue the pace we're on, we'll wake up some day, i keep saying we'll turn into france and they will be the next usa. >> 22% of our imports come from one country, china. there is the question of intellectual property rights, the fact that they force u.s. exporters to give up some of their technology in return for access to the chinese market. trish: why do we do that, nomi? why doesn't -- >> previous administrations were out to lunch on this particular issue. trish: think about, from a corporate standpoint, right, why is a corporation willing to turn over their secrets all for some quarterly benefit? >> but i think exactly that has been happening. because china is growing sort of exponentially relative to the
u.s. in certain areas over last 10 years, since we were devastated by financial crisis is. we got out of that, et cetera. they had the benefit being outside of that, developing alliances with the rest of the world. if you're a corporation, a multinational corporation, you're looking at a larger population and consumer base to buy your product. trish: you don't need to be patriotic, make money, right? >> it is about dollars and sents. then they look back and say maybe not. trish: isn't that where the administration needs to come in? we get that our global company but your allegiance needs to be to the home base first? >> you have allegiance to the future of this corporation and future shareholders and employees. you can't forget about them. china has come a long way where it was 10, 20, 30 years ago. so perhaps now it's time that they basically play by the rules that are customarily adhered to
by advance economies. very good points from both of you. trish: nomi, very good to have you on the show. john, thank you. >> thank you. trish: any moment senators will grill inspector horowitz on the hillary clinton investigation. we'll keep you updated. that is going on right now. that is developing story we're covering throughout the hour. white house is firing back at critics overseer row tolerance immigration policy. the media is portraying this as absolutely heartless, ruthless, yes, i get it. when you're separating families that is, that is hard, that is hard on that family. it is hard to watch but, let's not forget a country is not a country without actual borders, right? our panel is going to debate it next.
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>> if the democrats would sit down instead of obstructing, we could have something done very quickly, good for the children, good for the country. we're stuck with these horrible laws. they're horrible laws. what's happening is so sad, is so sad. and it can be taken care of quickly, beautifully, and we'll have safety. trish: so fix the laws, right? president trump defending his administration's immigration laws today, blaming the democrats there for separating families at the border. for more on this contentious issue, i want to bring in my panel. democratic strategist richard goodstein, founder of flag, did i get that right, nick? >> absolutely, trish regan. trish: what is flag? >> the foundation for liberty and american greatness.
>> i know you have a book out. you emigrated here yourself. it was quite a headache but you managessed to do this. first your thoughts as it is played out across everyone's television screen, you see, bombarded as a viewer with these images as families being torn apart and it is hard to see, hard to take, but the administration is saying these are the laws, we're enforcing the laws and if you don't like these laws, and he indicated there that he didn't, he doesn't like seeing children get separated from their parents like this, fix them. your thoughts, nick? >> trish, it is heart-breaking to watch. it is really difficult to watch. it is truly said but you know, it really boils down to this. if you don't want to be set rated from your family while crossing our border illegally, don't cross our border illegally. at the end of the day that is what it comes down to. without borders we aren't a country. you said that before. i have said it many times. we really need a, an order of
tough love. the president earlier this year called for a bill of love when it came to immigration. i think the correct bill is a bill of tough love. we need to make sure there are no exceptions. we need to make sure that as heartless as it may be, as heartless as it may feel, as heart wretching as it is to see we have to make sure we look after americans and americans first. no one, trish, is talking about the children that have been permanently separated from their mom and dad because of criminal illegal aliens. no one is talking about the kate steinle's father who has to live every day without his daughter because of criminal illegal aliens. trish: richard, i think that the, will, you're going to defend the left in this case but the left is deliberately trying to sort of tweak people's emotions here so they forget about the law, so they for get,
okay, you have to have borders and there is consequences if cross is border illegally, you become a criminal in the united states of america. we're not going to stand for that. are we trying to send a message to countries like honduras, to gaut -- guatemala, mexico sending thousands of people here, frankly only a fraction wind up being detained? >> couple points, trish, we're empath thick what we see. i want to say this respectfully as possible, when the president says this is democratic doing. that is delusional. the republicans control the house and senate and executive branch. he could make a phone call and stop these little kids, did i hear somebody when you cross the border illegally what do you expect? is that what your message is to a 2-year-old, to a 6-month-old. are you saying to them when they cross a border -- hold on a second. the, look the fact of the matter
is, this is not the left. ben sasse is not on the left. laura bush, who called it immoral and cruel is not on the left. lindsey graham and susan collins and, go down the list of republicans who are ashamed to be in a party whose administration isn't making this the law in a with way that no prior administration, republican or democrat chose to do when the law was no different than it is today. >> that is not true. >> it is true. trish: nick? >> that is not true, richard in 1996 president clinton introduced these laws. they were enforced during the george w. bush and obama administrations. we didn't hear from first lady laura bush then. we didn't hear from the left then. all of this is happening last eight years from the very least. we never heard any demagoguery, any outrage, any outcry from the left. now because it is president trump all of sudden everybody has their knickers in a knot
everyone is talking about it. this is not only unfair but the truth is, this is democratic law that was passed by democrats. >> well, again, nick, the fact of the matter is what the prior administrations, republicans and alike did, use discretion. they used judgment, that separating children, so that parents were not in the next room hearing their kids crying out for them and being totally unable to get them. those administrations are, prior administrations, both parties chose not to enforce that as policy. that is zero tolerance is zero morality. i'm sorry. that is what laura bush said. in the me. trish: nick. >> before you burst a blood vessel, before you burst a blood vessel -- >> for a good reason. these kids are helpless. trish: let him finish. >> i tell you who needs to use judgment. i tell you who needs to use discretion. parents. what kind of parents go put
their children -- trish: maybe the answer you don't come here illegally to begin with. >> agreed. trish: okay. >> exactly. >> totally agree. trish: but how do we make sure that people aren't coming here illegally to begin with? you reform all of our immigration policy right now and that includes strengthening the border. i think the president is trying to say we can fix this, we just need to actually do the right things to fix it. >> republicans control congress. they control the white house. trish: so there is opportunity here. >> let them pass a bill that the president will sign. that is not going to happen because there are too many republicans who frankly don't agree with the president's policies. they certainly don't agree with separating these little, little kids from their parents. there is shame. trish: wait, wait. we just decided you can fix this by changing the law and actually having a more, strengthful, wrong word there, immigration policy, right? if you actually have a policy
that's working then maybe you don't have to confront -- >> there needs to be borders. of course there needs to be borders. there was a net ow flow of mexicans from the u.s. to mexico over the past several years. you wouldn't know that if you watched a lot of news programs. trish: statistics, primarily guatemalans coming here as well as people from honduras. >> right. trish: and you're right not as many from mexico. but looks it's a challenge. i would just point out, nick, any other country in the world, right, if i just illegally crossed into -- >> can't do it. trish: right. you can't. you're not allowed. >> absolutely not. no, you can't. unfortunately there are some open border advocates like richard and his friends who would change that. that is just not right. >> no, nick. sorry, i don't want to speak for the left. i don't. but the fact i think every democrat and republican agrees we can't have people willy-nilly crossing the borders, but we also, that doesn't mean that we have to be as heartless as what we're seeing on tv.
trish: then i think there is opportunity here for everybody to come together and find a policy that actually works. and that would be tremendous for the country. >> it would be. trish: richard, nick, thank you so much. good to see you guys. breaking news out of the white house, president trump formally nominated kathleen kreninger, replacing mick mulvaney who was placed after president obama's pick was resigned. we're monitoring fbi director christopherway and inspector general michael horowitz's testimony is happening right now on capitol hill. we're watching all of it. plus is google getting too big. the tech giant is getting calls to break up from one prominent newspaper's editorial board. we have details next.
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trish: investing half a billion dollars in china's e-commerce player. they are working to provide a retailers with superior experience and competing with rivals like amazon and alibaba. speaking of google or alphabet as it's known, trading up right now, there is some concern here that google and other big tech companies may take over the world one of these days and it is not actually something to laugh about, certainly in the case of google, they are the dominant search engine. we saw what just a couple weeks ago there was a lot of concern because the california republican party was being searched and the second term that would come up in the search was naziism. i mean this is, this is the concern, right? because if google's controlling the searches, then are they
controlling the world? one newspaper is getting a little concerned and it calling for google to break up. this is the editorial board with "the boston globe," not exactly right-leaning, writing, never in the history of the world has a single company had so much control over what people know and think, yet washington has been slow to recognize that google's power is a problem much less embraced the obvious solution, breaking the company up. our very own susan li joins me with more. i find this so fascinating because it is kind of terrifying that the google, the gatekeeper, to all information. >> 90% of internet searches, that is what they control. trish: wow. >> over 80% of the world's smartphones run on android. along with facebook they control over 70% of the u.s. advertising space. these are monstrous numbers,
right? don't forget if you want to separate them, break up individual companies and businesses, youtube is $15 billion a year in revenue company on its own, 1 1/2 billion monthly users. these numbers are as very mom call. i want -- astronomical. i want to tell you about the china deal, trish. i think it is a master stroke for google. they got in the chinese market. amazon is not able to get in. trish: what are they giving up? >> google has been censored 2010. i'm surprised the chinese government authorized this. trish: it is coming at an interesting time. we were talking with a previous panel what you give up in terms of intellectual property to be over there. one of the goals of the trump administration really is to stop the stealing of intellectual property. so, yeah, google wants to be there, i get it. more than a billion people. it makes sense, but at what cost? and look, "the boston globe,"
none other than "the boston globe" saying it is time for this company to be broken up. >> right. trish: could it happen? >> okay. so i think they're using the analogy of remember at&t, was seen as public utility. trish: yes. >> there were different ways, for them to keep their monopoly in 1956. they had to license out a lot of their patents for free. eventually 30 years later they broke up at&t anyways. because they had too much control over the market. so the "boston globe" is saying, why don't you break out the individual businesses that google owns, break out android, break out youtube. break out the google advertising business. trish: when they become alphabet because there are so many difficult businesses -- a letter for each one, you might be on to something, "boston globe." good to see you. thank you so much. the dow off 127 points right now. meantime we're monitoring inspector general michael horowitz testimony on the explosive report on on the
hillary clinton email. we'll bring you any heated exchanges. if they will happen, they will happen here. so do not go anywhere. i see you on the other side of this break. so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife.
in the hot seat. as we speak they're getting grilled by lawmakers, dianne feinstein asking them particularly how they handled the hillary clinton email case. edward lawrence is there. reporter: hearing pointed questions from democrats and republicans on this committee. right from the start, senator chuck grassley went right to the blasting fbi on the possible bias inside this inspector general's report. he reported there was different team, double standard for the way the clinton email investigation was handled and the russian probe. listen. >> under lynch, a low level i.t. worker lied to the fbi twice about destroying records under subpoena and got immunity. under rosenstein a low-level trump campaign associate provided the wrong date for conversations with a professor
and got charged with lying to the fbi. under lynch, clinton's lawyers and aides who improperly held classified information got carefully-crafted agreement to limit searches of their computers by consent. under rosenstein trump's lawyers and former aides got raided and hauled before grand juries. reporter: democrat senator dianne feinstein pointed out in this that, turn to the last part of the report basically where it says the conclusion there was no bias in the final determination that no charges should come against hillary clinton in her email investigation. listen to what she has to say. >> report is highly critical of director comey. it did not find that it was biased against president trump or in favor of secretary clinton reporter: now fbi director christopher wray all those with
biased text messages within this inspector general report will be held accountable in this case. he says that is not going to be something tolerated in the fbi going forward. wray admits mistakes were made and bad unjudgment. that will be corrected going forward to get the public's trust. trish: trish, thank you so much. edward. we're off the lows of the session, but still off 130. some people worry we're heading straight into a trade war, that will be a real problem. are these headlines getting kind of overblown. we'll talk about it. go to the new york stock exchange next as we continue to watch the testimony coming out of washington. stay with me.
when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. trish: all right, the market is off 142 right now but we are as i said earlier off session lows that when we first opened up this morning it looked like it would be a little bit worse because everybody is wording about this intensifying trade concept between the u.s. and china, kind of like a bad game of chicken here and whose going to blink first. joining me right now is john o' hera. john, i just, i think that people forget how much power economically we really do have, right? i mean, we are the world's biggest consumer. and i would just think that china is if they're being rational here, and they should be, it would want to keep that
in mind as they throw all these tariffs out there. >> i agree completely with what you said, trish. recently i think i read that the u.s. was $100 trillion in net worth. i think that you're going to see continued volatility day-to-day when the headlines come in and come out on this whole issue but i think the president is in his position and tariffs essentially could be converted to a different word which is tariffs so really there's a development to this whole approach as well and the president doesn't think is fair and i think he's going to continue to push things. if you're worried i would stay away from the commodity and material-based stuff and perhaps even energy i'd focus on technology which we are with etf 's and particularly the chipmakers we like micron, for example. i would also pay attention in the u.s. to specialty retailers which seems like a very strange thing but recently macy's or dick's sporting goods or foot
locker which are all primarily u.s. domiciled company and in our cash cow series, they've actually done very well year-to-date, much better than the overall market and much better than even some of the faa ng stocks. trish: bet law enforcement ask you about earnings and expectations and how that shakes out because some in the wall street journal today is not just trade but it's earnings and they are saying they're still going to be good but last quarter was really good so can you beat what you did three months ago and so what is your sense of how earnings are going to move and is that going to be a disappointment for some? >> i think for the rest of the year things look pretty solid, where i would start to get worried would be next year when you have your comperables. in other words if you have a bad earnings cycle it's very difficult to beat those and surprise on the upside, when you have a good earnings cycle it's difficult to beat that so you have downside surprises and perhaps that gets people a little bit skiddish and the market is getting a little long
in the tooth and people are worried maybe they would be trying to pick-up pennys in kind of a steam roller. we still think the u.s. economy is strong and u.s. companies are strong and inflation is low, interest rates are low and all of the signs are good but i would start thinking about next year, first quarter second quarter towards the end of the year the comparables will be more and more difficult and we'll have to see whether companies can continue on this earnings like just unbelievable up-trend. trish: its been great. good to see you thank you so much for joining us today. >> thank you. trish: i would just reiterate there is an opportunity on all fronts whether we're talking about the kids that are getting separated from their parents, and the democrats and republican s can work together to make sure that we reform our immigration policy and we can stop all of that that you're watching right now as the president said earlier, and i would also point out, when it comes to trade, we don't have to have tariffs. china doesn't have to have tariffs in fact no one has to
have tariffs right? you could be in a 0% tariff environment and we have the kind of power to force other countries to do it. i'm going to be on outnumbered tomorrow so i'll see you on fox news at noon eastern in the meantime liz has got you through the close, liz? liz: trish thank you very much if you look at the dow you guys on the far right side of the corner on the screen the market slicing and dicing away more than 100 points of earlier losses but this morning as investors work-up and remember we still have those china trade fears the dow is still down 149 but well off the lows and breaking news zero tolerance splitting republicans as the immigration debate gains steam, minute by minute. so president trump is expected to have a high profile meeting in the oval office at any moment that's related to this. he is meeting with senators richard shelby and republicans about immigration issues border wall funding and your tax ll