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tv   The Intelligence Report With Trish Regan  FOX Business  July 27, 2018 2:00pm-3:00pm EDT

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let's go to trish regan to take you through the next no doubt very busy hour. trish: thank you, neil. president trump taking a victory lap, right, about the new gdp report. a pretty good report i might add. the u.s. economy grew a whopping 4.1% last quarter. i'm trish regan. welcome, everyone to "the intelligence report." ♪ trish: all right the president silencing some of his critics anyway with another big win, another big win for the u.s. economy. we grew, our economy, grew at fastest pace in nearly four years. just over the last three months. the president's calling this an economic turn around of historic proportions. so should he get some credit for it? will he get some credit for it? we're on it. north korea fulfilling its promise to return remains what are thought to be u.s. soldiers who were killed in the korean
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war. the bodies will be sent to hawaii for dna testing over the next few days. i will speak to one family anxiously awaiting the results of those tests. they have been waiting for their loved ones for 65 years. they are joining us here today. house leader nancy pelosi is back in the hot seat after claiming that democrats are stronger, stronger than republicans on border security. she went on to then downplay the 9/11 terrorist attack, calling it an incident. i'm asking whether or not nancy pelosi has become in fact what you could call a distraction for the democrats? we have more ahead. first back to the economy, everyone. 4.1% growth in the last three months. go to the noor of the nyse, to see how that was received by traders. nicole petallides is with us. >> hi, trish. absolutely right, they got the 4.1 number. they like the print they saw.
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feeling optimistic going forward. it was a revision for the prior quarter. the dow was up more than 50 points out of the gate. you can see across the board it is all negative numbers. in fact, nasdaq, worse of the bunch, no surprise, it turned negative for the week down 1.2%. as we look at the dow losers you see some tech names in there. we do have intel, microsoft, visa counting more for of the dow's drop. intel shaving about 30 points off the dow jones industrial average after the company's numbers. and you do see it down now 8%. you can see exxon is down 3%. you can see selling going on. it is the social media stocks. when i talk to some of the traders there is so much volatility. this week has been a very exciting week. one trader said forget about the sleepy days of july. that was not this week. it was wild. we saw the tech stocks in particular with facebook, people piled into facebook. it had exceptionally heavy
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volume on day of the earnings right before the bell only to have the huge selloff, the biggest selloff ever, the big zest loss for a company. all of the social media stocks are down. a quick look at financials as tim anderson over at mnd partners a division of tjm, actually told us he has seen the rotation out of tech into some big multinationals, including financials. you know, trish, facebook is everywhere. it is indices. it is etfs. it is certainly widespread. back to you. trish: thank you so much, nicole. joining me right now is "the wall street journal"'s james freeman and vision four funds vice president, heather zumarriaga. wow, heather, we were talking about whether it would be three, whether it would be four or could be a five handle, 4.1%, i like it. you know whales i like? i like the optimism we're hearing right now from the administration. the president saying that he
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thinks this sis sustainable. what do you say? >> optimism begets more optimism, that's for sure and i think they're right on target, right on point to tout the economy. they should be. we haven't seen over 3% annualized gdp since 2005. it has been a very long time. so this gdp point was a stellar 4.1% this morning and i'm very optimistic it can continue as effects of tax cuts and deregulation have yet to be fully implemented into our economy, trish. trish: james, one of the things i'm a little amused by, very happy about, average americans i think have a better understanding or appreciation of all these data points now, in part because you got the president out there in the rose garden saying, 4.1%, by the way did you see the trade deficit? exports grew, and imports were half a percent.
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what do you attribute that. >> the news in there is fantastic. i think the market didn't surge because the expectations were even higher but exports obviously great news on that. to me it is capital expenditure. you're asking can this continue? businesses investing a lot more this year, growing by more than 9% in the first six months. new factories, new equipment, new technology. this is not something that just gets consumed in a week or a month or a quarter. this means a higher growth possibility for years to come. trish: so you don't believe in the tariff action is going to cause any wrinkles? >> that's a concern, obviously. that's a negative. that's a drag and the good news on that the p.m. seems to be pretty close, maybe our european friend will get together to focus on china? it is a definitely a concern, when we look at this report, hard not to be optimistic about the future.
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not just the capital investment but also inventories are drawn down. they will get drawn up again in the latter half of the year. that will fuel growth. >> i love hearing this. heather, how do you explain the market off 84 points? are people nervous about the fed? >> i know the tech sector has a lot to do with it. propping up the subpoena 500 on the backs of companies like twitter and facebook not coming out with good earnings reports. that is having an effect on the markets. even if you thought the whisper was over 5%, we got 4.1, that is really positive no matter what the market reaction is. that has to do with other things like the fed, like earnings, like the strong dollar right now, not the gdp report. trish: we've seen the president be very vocal recently about the fed. he would not like to see interest rates go up. he wants to keep this economy chucking along here. raising along and the fed could
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put a squeeze on that. our own maria bartiromo sat down a short time ago with vice president pence. she asked him to the federal reserve. >> tweeting something about the federal reserve, he said it is crazy that the federal reserve will raise interest rates. the economy is so great why not raise interest rates? >> look we respect the independence of the federal reserve. the president reflected his own personal opinion about that. but, what we don't want to see happen going forward is we don't want policies whether capitol hill or elsewhere that diminish the tremendous energy we have in this economy today. trish: that is an interesting point, i would say, guys, because too often during the obama administration years. over that eight-year period we saw basically fiscal and monetary policy working opposite each other. in other words the fed was out there trying it do whatever they could to get this economy going. whether that meant qe1, qe2,
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whatever it took. low interest rates for the longest time in history. yet you had a dysfunctional washington that was not able to aid the process at all. so the fed was the only game in town. we could now be in a situation james, it is not the fed that is the only game. the fed is working against what the government is trying to do, so you're getting tax policy reforms. talking about tax cuts 2.0. you're getting estimate laws in that way, in terms of lower corporate taxes, individual taxes, but if that is fighting against the fed, how does it all shake out? >> i don't see it fighting against the fed. i think you summed up perfectly the problem of the last decade. now, given we've moved to pro-growth approach on fiscal side lower fed rates, i don't think we need the fed anymore to conjure economic growth. this gets back to a real
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economy. i don't think progress is incompatable with the fed raising rates. i think the president is too worried about that. as long as he doesn't create a huge trade problem i think his policies on taxes and regulations are so strong it is going to be fine. we'll get back to more normal rates. trish: i agree with you on that. and, heather, one of my pet meese -- peeves, the fed created perverse scenarios, you figure why should i buy that house today, interest rates will be the same if not lower next month or next year. >> yeah. trish: so what incentive do you have as a consumer to say i got to get that deal now, i got to spend now? >> it is coming. i think the federal reserve is going to continue to raise rates. the economic data is there. they operate under a dual
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mandate independent from government and hopefully presidential pressures on the fed which is somewhat unprecedented other than once or twice in history in terms of having the fed maintain an easy monetary policy but we don't need it. the markets are no longer hooked on monetary morphine. the economy doesn't need it. dual mandate, both jobs, inflation have been infilled. let's continue raising rates. i'm okay on that. >> yeah. end of monetary morphine sounds good. trish: good to see you, james and heather. you can catch, everyone, maria's interview with vice president pence on "sunday morning futures" and monday at 6:00 a.m. here on fox business. disney is one step closer to acquiring the entertainment division of 21st century fox, our parent company. shareholders approving the 71 billion-dollar deal. disney and comcast had been in a bidding war for the assets since last december. comcast dropped out. the deal is not expected to
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close for several months. there are still regulatory approval issues that need to be dealt with. today a bombshell report from the hollywood reporter, cbs chairman les moonves is accused of unwanted kissing and touching per "the hollywood reporter." this is part of ronan farrow's me-too story expected to be published on his website. he will report on recent claims of moonves, and incidents that go allegedly back 20 years. the article will describe this as part of a broader culture at cbs the cbs board says it is launching an investigation into the allegations of misconduct by mr. moonves. later on in the show, what the u.s. government is doing to secure our elections. house minority leader nancy pelosi describes the september 11th terror attacks as quote, an incident. with today's strong gdp report and republicans pushing tax
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reform 2.0, is she really turning into a distraction here? if so, can the democrats really afford a distraction like her right now? we're on it. i will see you here.
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again. stepping in stuff she really shouldn't be doing. this time she is making this absurd claim that democrats are actually tougher than republicans when it comes to border security. it doesn't even make sense, right? aren't the democrats the ones calling for abolishment of i.c.e.? so it doesn't end there. she went on to then describe 9/11, as an incident. listen to this here. >> in fact i said to some of you before that when we had the 9/11 incident and the commission was formed, and they made their recommendations, they made recommendations to protect america. but the republicans would never take them up. some of it was about our borders. trish: an incident? that is how you describe the deadliest attack in america's history as an incident? joining me right now, former cia officer buck sexton. always a pleasure. good to have you back on the
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show. >> good to see you. trish: what is she missing here? how could -- by the way, let me at least give her some benefit of the doubt. she was speaking extemporaneously, perhaps it was a very poor choice of words but this is not the only time she has chosen some very poor words. >> yeah, if it wasn't nancy pelosi i think most folks would be willing to give a little more benefit of the doubt here but the trying is pelosi is pretty remote from the issues and interests of most of the american people. going into the midterms she is the gift that keeps on giving for republicans. as much as possible they should have nancy pelosi, hillary clinton, chuck schumer, a number of prominent democrats out there as spokespersons, as proxies for all the did elections that will be going on in states across the country. that is one part of this. then on the notion of nancy pelosi as border hawk or
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nancy pelosi was putting it, willing to do things that republicans won't on the border, notice how she didn't actually name any of these recommendations. she has some faint recollection of things in the 9/11 commission report that perhaps she would like to see implemented, instead she never did anything to implement them. if it was a good idea, tell us what it is? democrats are basically quasi-open borders as a party and nancy pelosi is helping to lead the efforts. they should be honest about, but the problem, trish, the american people don't tend to agree with them. trish: many years ago there were a number of democrats actually did want better border security. they actually talked about this long before the whole idea of the wall from donald trump ever surfaced. now they have amnesia because apparently it is politically expedient to do so. to talk instead of opening the floodgates and welcoming everyone. i do think, buck, when push comes to shove, you talk to people out there in the middle of the country anywhere, it
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doesn't make sense to them, right? maybe to the coastal elites, who don't actually who have to interface with challenges with some folks being here, crime less associated with that, maybe they don't feel it as much, but when you go elsewhere in the country and go along the border in arizona or texas, people feel very differently. why is there such a disconnect? >> well, i think you're hitting the nail on the head. nancy pelosi is really emblematic what you would call a limousine liberal or private jet progressive, whatever your favorite terminology be for her. this is somebody who isn't having her children share a school, classrooms, with illegal immigrants who will need additional language training, often need a heavy dose of public services to help them and while it is all well and good to be concerned for the less
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fortunate among us, there are a lot of americans who are less fortunate need assistance and help legally in the country. once you also add into this employment as factor, sure the pelosis of the world will not be competing with illegal immigrants for jobs but the most comprehensive studies on this have shown state by state, region by region, when there is surge of illegal immigration, wages in unskilled professions tend to drop. simple supply and demand. people can argue all day. there are open borders libertarians and conservatives out there, people see this for a long time. why trump in large part president because he took up this issue, trish. the democrats are flailing because they don't have a message. when you have over 4% gdp growth coming out best they can do is say okay. trish: yeah, no, 4.1%, that is a stuff thing to fight back against because people are feeling pretty good right now. buck sexton. good to have you here. the president is 40 minutes away
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from holding a high-level meeting with national security officials regarding election security, what do we need to do to protect our country and protect our election system. is it possible to stop bad actors from infiltrating us? we have some intel for you. i will see you here next. up ths and the miles and the years. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck, there's truck month. get 18% of msrp cash back on all silverado 1500 crew cab lt pickups when you finance with gm financial. that's $9,000 on this silverado. plus, during truck month make no monthly payments for 90 days.
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trish: at top of the hour, president trump holding a meeting of his national security council and topic is none other than, protecting our elections. meeting is coming nearly two weeks after the president received all kind of very harsh criticism from both sides, including this bun, right here, following his helsinki press conference when he seemed to question the intelligence community's assessment of russian meddling, and they may have already started apparently meddling in 2018. at least that is the democratic senator claire mccaskill of missouri is saying in a tough re-election fight she is in. she says russian hackers tried to infiltrate her senate
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computer network. how do we protect our election from bad actors? we have former assistant secretary of state, robert charles. secretary charles, good to have you here. what do we do? >> you know, trish, i think the big picture is always important. we're at an inflection point as a nation where we have been reactive in responding to a lot of these threats from russia, from china, iran, north korea. and we really now are becoming, we have to become proactive. if you break it down at the national level are, you had two national security council principles meeting on thursday. you have this meeting happening with the president today. it is not just window-dressing. the coordinated effort by inneragency to look at this problem, get ahead of it. at the legislative level, i will be honest, i think is lot more could be done. right now we do not have a national architecture on the voting side of this, not talking about the digital propaganda side. women -- i'm not talking about
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the voting machines. we have 50 different systems. you need to do end to end audit and every system is tracked. people have to be aware effect spyware, malware is having not only on political races, potentially political race, if you have a campaign, there needs to be a aggressive effort to protect your server but also on individual level. when people search results today for tianamen square and the massacre, the government crackdown in 1989, the chinese are trying to miss direct you, redirect you so you never find i. the individual has to be aware, we have to be aware we are living in an age where the information has to be corroborated, it has to be searched out in multiple ways. that makes it difficult to be informed citizens. that is what we're all trying to be. tough moment.
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trish: i remember old microfilm, you had to look up articles. >> yeah. trish: when google didn't exist, you were researching a topic, you actually went back to primary sources of the time and looked for reallies tore call accounts. i think you're right, in that in today's day and age it is too easy to do the quick search. who knows who is influencing that, russians chinese, et cetera could. you mentioned something is, robert. full scary. voting mechanisms, that is something sacred, nothing hacked into. do you feel technology could be become increasingly vulnerable if we're not careful? >> excellent question. at the end of the day we are relatively safe because we have an awareness of what we're looking at. i think right down to the local level we're very attentive to what the results look like. we're sort of cross-checking ourselves. we have a different voting
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systems nationally. what computer experts tell me, well beyond anything i know, you have to really have national architecture allows you end to end audit on every vote cast, there can be no changes. mom miss are picked up. i'm a states rights guy. i love the idea we have 50 laboratories, we do things differently, some situations, national defense, transportation highway system. trish: our elections. >> our elections where we have to know that the integrity of the process is something we can all trust. our democracy depends upon it. trish: absolutely. robert, good to see you. thank you, robert charles, everyone. >> thank you. trish: north korea fulfilling one promise to president trump, handing over remains of missing american soldiers from the korean war. very big deal. hopefully, hopefully it will give closure to some american families. i will talk to the family of
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captain harry moore, who as a pilot was shot down over korea in 1951. his body was never recovered. they're hopeful, very hopeful they will get answers. stay with us. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- mbc, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, and may cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection.
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>> i want to thank chairman kim for keeping his word. we have many others coming but i want to thank chairman kim in front of the media for fulfilling a promise that he made to me and i'm sure that he will continue to fulfill that promise as they search and search and search. these incredible american heroes will soon lay at rest on sacred american soil. trish: president trump thanking north korean leader kim jong-un today for fulfilling a promise to return the remains of missing soldiers from the korean war. a u.s. military plane entered
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into north korea to retrieve 55 cases of remains today. there will be repatriation ceremony in south korea on wednesday before the remains are flown to hawaii for scientific testing. one of the brave americans who fought in that war was captain harry moore. the air force pilot was shot down in korea in 1951 and his body was never recovered. his family is pushing for answers. they have been looking for answers and for some closure for 65 years. joining me right now is bob and lois moore. good to have you guys here. good to see you again. you're getting closer, gets closer, after 65 years? bob? do you feel like, you might actually have a chance at some closure right now? >> well, we won't have much chance for closure from the
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remains being brought back because my brother was captured and we believe sent to russia as a prisoner. what is very important to us though, is what happened that were northern to be alive at the end of the korean war and not returned. we're so happy president trump has been able to bring back remains, get something done, and get his attention of what happened to those that were left behind. trish: it's a big deal. i see a story like this. we see what's happening. it reminds you really of what distinguishes us as americans from so many other countries in world. we have, we put a value on human life. we want to know what has happened. we want these remains back here in this country. lois, walk me what you do know
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about your former husband. you were widowed when he was lost. it is your understanding that he wound up as a prisoner of war in russia? >> in 2002 i received a letter from the u.s. air force and they stated they have found information in the russian archives that indicated my husband, captain harry moore, had been shot down but was able to land gently in the water south of the yalu river and that he was captured and that he was interrogated by a colonel, and that harry was sent to menino airbase in russia. that is the last we heard about him. other than years late some of our people were interrogating the russian pilots and they remembered his name as harry moore. trish: so, still a lot of questions obviously. but it is nice to see that some
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families will finally be getting some answers. to kind of end this segment on a positive note, i mean bob and lois, you guys have an amazing story yourselves. lois, you were widowed. bob, captain moore was your brother. and then the two of you, came together. you raised lois and captain moore's child together as your own. you're married to this day. it is an unusual twist in all of this but i think one that can put a little warmth in everyone's heart as we hear your story. tell me about it. >> well, most important thing to us right now is we, we have not been able to get any information from the defense department because they have classified all these files. so we, we are suing the cia, the fbi, the defense department, to release classified files that have been held for over 65 years
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and there are 7,000 of us or more waiting, families, to hear what's in those classified files. that's where the answers will be. trish: any sense when you will get them? >> well, it is going through the federal courts right now. we hope that president trump will take an active part on this, demand these files be declassified. they have been held for 6 5. the law says they must be released after 25 years. they have been not been released. they keep stonewalling and hiding covering it up. we want the answers to those files. trish: i don't blame you. bob, lois, thank you so much. good to have you guys here. we hope you fet answers very soon. >> thank you very much. trish: busy week for commodities between president trump promising $12 billion of aid to farmers hurt by the tariffs and the trade promise to the eu
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we'll head to the to the markets. markets are off 125 points despite fabulous news of 4.1% growth. why are investors talking about this. president trump is saying he knew about the 2015 infamous meeting in the trump tower. what he is saying about his lawyer michael cohen next. fidelity. open an account today. fidelity. i saw my leg did not look right. i landed. i was just finishing a ride. i felt this awful pain in my chest. i had a pe blood clot in my lung. i was scared. i had a dvt blood clot. having one really puts you in danger of having another. my doctor and i chose xarelto®. xarelto®. to help keep me protected. xarelto® is a latest-generation blood thinner that's... proven to treat and reduce the risk of dvt
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trish: president trump striking a huge trade deal with the eu this week. jean-claude juncker saying the eu will buy more soybeans from the united states. see how markets react to the trade news. ii want to go to jeff flock at the cm. >> you talk about buying soybeans and tariffs off, beans will go up. that is what they did do. i checked the hot board, beans up nine cents at the close. i want to do a three-month on beans but first let's run through other agricultural commodities quickly. corn unchanged. trading around 3.0 a bushel. wheat up six cents. oh looks like down fraction ahn ahn -- fractionally. this is why the concern. three months ago before all this mess ensued on tariffs, 10.67
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beans. we're now at 8.69. that is down $2 a bushel. if you have 500-acres, you lost 50 grand. you now pushed the price below break-even mark. we're hoping buying from europe will have positive impact on beans. a lot of guys lose a lot of money. those are trump supporters in soybeans. latest from the cme, trish. trish: thank you so much, jeff. shifting gears, president trump blasting former attorney michael cohen that president trump claims he president trump knew about the infamous meeting between the his son and the russian lawyer in 2016. president trump says he has no evidence backing up the claim. trump tweeting i did not know the about the meeting with don, jr., seems like someone is making up stories to get himself out of a jam.
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we have morgan or the take go, and university of professor steve -- stephen mull ray. starting with the legal aspect, can you tell me sir, whether or not donald trump did know the meeting was happening, would that actually be in fact a crime to take a meeting meeting with n to get some information? >> well, if he knew about it and approved of it, it would be evidence of the so-called, collusion, that everyone has been talking about -- trish: really. that's collusion? because, suppose you had a russian friend, you know, i have some interesting stories about your competitor, and you said, oh, yeah, i want to come on hear them, hearing information is somehow coclouding with the russian to hack and steel steale
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election. >> emails show the purpose of the meeting was for them to give the trump campaign dirt on hillary clinton they could use for campaign purposes that sack tiffly cooperating with a foreign, hostile power to interfere in elections. that is collusion, but i think most people's definition, collusion by itself is not actually a crime. what would be crime -- trish: wouldn't you have to use the information or pay them for the information? don't forget, by the way, stephen, it was hillary clinton's team that actually got the dossier together so, isn't that a form of using foreign sourcing to get dirt on someone? isn't that the same thing in a way? >> well, no, if you pay and disclose those paints for normal information gathering services, some of them happen to be foreign, that is the not the same thing as accepting assistance for a foreign power f it were something of value, money or professional services that would be a crime under the
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campaign finance laws. it is not clear whether this was something of value. trish: i think that's a big part of the issue and having a meeting, getting scoop on someone, it actually being -- anyway, let me back up for a second here to go to morgan because i have a suspicion, and our friend there on "outnumbered" today, whose background is in intelligence and the cia, certainly confirms perhaps some of my worst suspicions and that is that putin may have deliberately done this. in other words he may have sent the russian attorney for trump tower for everyone to see because it was a bread crumb for the media to follow? walk me through that theory. >> when you try to get into the mind of vladmir putin, he loves nothing more than all the press coverage he is getting. think about it, why did he offer up publicly for president trump to come to moscow? he wants to keep the attention up. as you know better than anybody, trish, the russian economy is
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doing terribly. their economy is not as big as the size of california. they spent a ton of money and blood and treasure in syria. he as ambitions for the russians to be the soviet union again economically on world stage. they can't do it through their weapons and so they're doing it through geopolitics. >> we don't have a ton of time. do you think that the russians deliberately tried to mess with us, it didn't matter which side won, whoever won, we were going to see a kind of chaos ensue because the trump camp would have said, it was stolen from him? they would have blamed hillary clinton and vice versa? >> i believe you're totally right. all the intelligence we've seen from publicly from the intelligence community, assessments, backgrounds of people, experts in this space led to that exact conclusion you just said trish. the russians have done all of this, done it purposely. it was not a clandestine
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operation. trish: you wouldn't send her to straight to trump tower for everybody to see. >> they did this so they would know, wanted to get into the mind of the american people. they wanted us not to trust each other. they want us not to trust our elections. they want us not to have faith in institutions that is the problem focusing on russia, russia, we're helping them. we're helping vladmir putin with his goal. trish: this is what kills me about it, in some ways, morgan, he has won this round because he has used our greatest strength, which is our trust in our system of government and we've always had peaceful transitions of power and he has used that against us in a pretty massive way. good to see you as always. >> thank you. trish: stephen. good to have you here. >> thank you. trish: gdp report showing the economy growing 4.1%. that is pretty nice. something the left actually said there was no way this president would ever be able to accomplish. so what are they going to say now? our political panel is here. we're debating it as we watch a market seeing a bit of a
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challenge on friday afternoon. down 122. see you back here after this.
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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.
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trish: president trump touting our booming economy. the economy growing at a fantastic, happy to say 4.1% in the last three months, second quarter of the year, something many people on the left, many people in the liberal media said no way, no how, it is never going to happen. guess what? it did and i want them to take a look at these headlines from 2017. this is what they were saying.
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opinion piece in the "washington post" by former treasury secretary mr. larry summers, he definitely doesn't like trump. the economy under trump, plan for the worst. then you have "the l.a. times," if trump thinks he can get more than 3% economic growth he is dreaming. vice news, why donald trump's economic growth goals are a terrible idea. really? do you not want 4.1% economic growth, guys? i know you thought it could never happen but guess what? it did. what are you going to do now? what is the liberal media, what are democrats going to say? what do they have to run on. fox news contributor deneen borelli, democratic strategist john summers with me. john, you're the dem on the panel. what you got? no i think it is great news. 4.1% is certainly improvement over last quarter's 2.2%. that is very good news. we do need to keep in mind however one quarter does not a
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trend make as was alluded to the business report a few minutes ago. soybeans were a big part of that. soybean exports grew by 50% over last year. that was a big driver. as was an increase in government spending to the tune of about 3.5%. so, hopefully we'll see this again coming up next quarter. we'll have to see. >> i like you're so positive on it, so deneen, if the economy is booming, democrats didn't vote for tax cuts, don't forget one single one wanted the tax cut, the prove is in the pudding, look at numbers, 4.1%, what do they have to run on? >> not much. , trish. we'll keep an eye on that as we get closer to -- president trump
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keeping promise of america first agenda. a roll back in taxes. roll back in regulations. economic pro-growth, environment. consumers are spending. businesses are spending. businesses are hiring. they're expanding. they're paying higher wages and better benefits. so americans are benefiting from the are benefiting from president trump. americans of all persuasions are benefiting. this is what democrats need to recognize because there will not be the blue wave they keep talking about. trish: jon? >> what you need to recognize there are not wage increases. many employers are paying this out in bonuses but not necessarily wage increases. in fact wages remained stagnant. >> that is it not true. not going to let you say that, jon. trish: u.s. wage growth verses inflation, you can see there is
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some wage growth versus inflation. i give you that point, jon, there hasn't been enough. we need more. critical you do get more, right? >> absolutely. jo lower unemployment, deneen, i will pay the president a compliment right here, right now. i like what he said. i like how he said this was sustainable and we would keep doing better because we need that optimism. do not forget, right, when you look at how people spend and how our economy performs, so much is based on optimism, in the sense things will get better. that is why, what keeps you going. that is why you don't hoard money, that optimism is critical.
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>> we have some certainty now in the environment which is good for businesses, it's good for hard working families. people want to know that they have more money in their pocket and to remind voters again, democrats did not support the tax cuts. [laughter] trish: you're not going to let them forget that, right? i have a feeling. [laughter] >> not today. trish: but you know what? it's the their fault. john, you guys could have been behind the tax cuts. there used to be a time in history where tax cuts were not political. i don't remember, because i wasn't born yet, but i am a student of history, and jfk cut taxes which is why i say they don't have to be political. >> and democrats are all for cutting taxes for working families. unfortunately, that's not the tax cut we saw in this case. [laughter] trish: well, we might get another one. just saying. deneen, john, good to see you guys. a quick programming note. guess what? i'm going to be on "the five" tonight on the fox news channel at 5 p.m. eastern time, so i
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hope you tune in. it's going to be my first time as one of the panelists there. fun stuff. we've got lots to talk about, indeed. see you 5 p.m. tonight on fnc. i'm heading over to liz, down 114. liz: interrupt jesse watt tears. [laughter] trish: it's my first time. we'll see. liz: okay. good luck, trish. the second tech wreck of the week on wall street, painting stocks and the nasdaq in particular a deep shade of red. by the way, this fall for the nasdaq of 126 points, the steepest decline in a month. twitter itself as the little bluebird shifts $6 million in market value and counting.

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