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tv   After the Bell  FOX Business  December 4, 2018 4:00pm-5:00pm EST

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whole trader team and charlie gasparino all our ceos. [closing bell rings] closing just off session lows. a very rough session with crosscurrents ranging from the bond market and yields dropping to concerns about clarity on trade. that will do it for "the claman countdown". "after the bell" has more. cheryl: session lows, liz. we're looking at major sell-off on wall street. stocks plunging on fears of slowing economic growth. of course skepticism of that trade truce with china. a lot of rhetoric adding to the nervousness today. the dow ending down at this point, we're down 786. give it a couple minutes. near session lows. we were down over 800 points for the dow. s&p 500 and tech-heavy nasdaq both closing down more than 3%. what a day. i'm cheryl casone i'm in for melissa francis. i pick ad day to be here. connell: what a day to stop by,
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cheryl. i'm connell mcshane, this is "after the bell." we have you covered from washington to wall street on this crazy day. first, gerri willis on floor of new york stock exchange. >> what a day today, you guys have it right, we're down 791 on the dow companies doing a lot of business in china falling. 3m down 2.9. apple here interesting. because they fell dramatically as well, down 4%. they had some stocks specific news. their shares downgraded today. financials, also doing horribly as well.
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jpmorgan down 4.3%. citi down 4.6. bank of america down 5.8%. so big trouble in financial land as well. you can see the regional banks here having trouble as well. their selloffs bigger in fact than the big money center banks. i want to talk about treasurys and the flight to quality. we saw people piling into bonds, specifically treasurys, government debt. spread between the three and five-year yield inverting the first time in a decade. 10-year yield at a 3-month low. this was unnerving for traders all day as they were watching that very closely. as we come to the end, it was a palpable sigh of relief on the floor of the exchange as the market closed. they did not want to see anymore selling. we'll see tomorrow if there is relief rally like there has been. one note, dare i say it, positive, the s&p 500 gained 6% over the last six days.
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this is a selloff of 3%. think of it that way. a little positive news for you guys. connell: a little perspective. gerri, thanks. >> you're welcome. connell: boy, what a day. important note tomorrow, blake burman joins us for tomorrow, will be an at least an off day because of president bush's funeral. we could use a bit of a break. part of today, blake, in addition to bond market concerns gerri mentioned, trade concerns. take us through it. reporter: the white house had to clarify today, connell, the 90-day negotiating window is already open. they said yesterday the 90 day window would start next year. that is not the case. we learned today the 90-day window started when two leaders president trump, president xi met in buenos aires, argentina for dinner. the president is optimistic a deal could go forward. also warned that he is ready to unleash tariffs should that be the case. that is the tweet that rattled
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markets. president she and i this deal to happen, if not, remember i am a tariff man. that sent stocks lower. peter navarro one of the top economic advisors says that was homage to president mckinley. the administration at this point continues to talk about this whether or not if this is a if scenario or when scenario. treasury secretary steve mnuchin said today $1.2 trillion worth of purchases could be on the table for the chinese but he also couched it. watch here. >> if that's real, and again, we have to have a negotiated agreement and have this on paper but if that's real, that will close the trade deficit. and it will be the structural changes that lead to u.s. companies being able to compete fairly in what's a growing china middle class. reporter: you heard him say if that's real. what was so, so interesting about today, connell, with this
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selloff, china went forward and said that they are willing to tackle the issue of i.p. theft. they put forward more than 30 different violation what is could, punishments as to what could happen. as you know the administration is hoping that china makes changes on i.p. theft. connell? connell: we're still down 800 points. blake, thanks. to our market panel on this. morgan ortega is with us, gary kaltbaum, kaltbaum capital management president, fox news contributor, and our own susan li joining the conversation as well. wow, gary, are you a tariff man? is that where we start in i don't know how we should start or look at this, what do you make of the action today? >> if i would have a message for president trump i would echo the words of george hwb orb, read my lips, no new tweets. market was coming down a certain
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extent that drove it down even more. you see what you see, a big 800-point day. i'm seeing federal express and ups literally crashing. i'm seeing financials rolling over badly and i'm seeing the 10-year at 2.9. that is indicative of a market yelling and screaming major slowdown if not worse. we've seen it in germany and japan. i think the market is telling you something here. connell: that was the bigger message, susan than the stock market. that was the headline, the dow down 800 points but the bond market seemed to speak to a lot of people today. >> as it does. i know we're trying to explain the inversion of the yield curve people glaze over when we hear that term. you have long-term rates lower than short-term rates that is a very bad indicator of expectations of economic growth going forward and i would say, if you look at the transport index, we saw the worst basis since "brexit," "brexit." there isn't that much news to
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trade on except for one tweet. what does that say? says the proxy for global trade is going in the wrong direction right now. connell: in the middle of all of this, morgan, the president is trying to negotiate the trade agreement. we think the next 90 days will be interesting. what do you make of the way he has been handling it? >> what we saw over the weekend was detente of sorts between trump and xi. clearly the president's intent was to get us through the holiday season, to continue the negotiations and sort of ease the markets. unfortunately through the tweets today, the markets had a opposite reaction. i think president will be very in tune to that. the challenge he has this is no longer an economic negotiation he is having with china. it is no longer about tariffs. he is having a crucial national security debate with china because we're in full-blown cyber war with them. the discussion is much bigger than what the trade deficit is or tariff wars. he needs to communicate that to
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the markets and the american people. cheryl: morgan, i i want to stay with that, what do you think of the mixed meserauageing from the white house this morning. larry kudlow and steve mnuchin and the message seems confused on top of the tariff man trump tweet, morgan. the president looks at a the market as a gauge of his own performance? >> this is indicative after administration with competing viewpoints. that is not a bad thing. that is what you see in many administration buildings people looking at economic perspective, kudlow and mnuchin, clearly worried what a strong tariff war could do to markets and company's earnings, especially anybody with a global supply chain but you have people on the other side of the house that want the president to remain very strong on china. i think they can do both, actually. he can remain strong on china but they're going to need more streamlined messaging to the american people conveying what is happening.
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clearly the president wants the upper hand in the negotiations. cheryl: gary k. >> i don't know if it is about streamlined message. i think it is too much messaging. i think they are talking too much. too many people are talking to much and they're confusing the heck out of people at this point in time. take a step back. let markets be. don't mention the word tariff the next few days. leave it be. i think really the bigger picture here is, everything economically sensitive is getting hit very, very hard and everything recession resistant is holding up best. that is really telling me something about the shape of things to come. cheryl: i would like to thank connell for bringing up the yield curve because i really don't want to talk about it but it is the story of the day susan but the other story here and i want to stay on trade, articles from the south china morning post, susan, the chinese were setting up i think trump at the g20 for exactly what they pot, an agreement not to raise tariffs on january 1st.
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the chinese, susan about the long game. you know that. what do you make of the fact that they have not responded to the president's bragging about the fact things were is successful at g20? the chinese are pretty quiet, susan? >> i think messaging was very different on both sides, if you look at papers, china versus the messaging from the trump administration. at the end of the day we've been here before. many administrations chinese leadership have been talking to previous u.s. presidents and you know, i would say it has been encouraging. there is a lot to like in some of these agreements. market access, intellectual property protection, hopefully we're getting there at some point and not going 25% of $200 billion worth of tariffs but i would still say 90 days, 90 days is not enough time to get what the u.s. administration wants. these are tough, structural changes they're asking for. these are 90 days that could be extended. i think that is what the market is forgetting here. cheryl: we don't want promises from the chinese.
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we want deals. i sound like president trump but that is the truth. we need a deal in writing. morgan, gary, susan, thank you so much for helping us react to breaking news today. connell: a lot of it with the point being down 800 points. cheryl: get it out. here we go. connell: now there is politics involved obviously in all of this. we have a warning coming up for president trump. why one former state department advisor says all the tit-for-tat about trade could really hurt his chances next time around for 2020. cheryl: you know he is watching the market the for that. the worst civil unrest in decades. france's prime minister reversing course on gas tax hikes after the rioting left paris in chaos. is the president backing down. connell: the legacy of the president george h.w. bush. how the 41st mr. of -- president of the united states impacted our economy. that is coming up from
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connell: this breaking news we're covering an 800 point plunge nearly in the dow, down 799. rising fears of an economic slow down we saw that in the bond market and growing confusion, to put it mildly what is going on between the united states and china. dan henninger from "the wall street journal" is here. dan is also a fox news contributor. we made sort of this whole, i am a tariff man tweet. what is the takeaway there? is this a president whose policy is, i'm a protectionist, i believe in this, versus i'm a free trader, and i want to get -- >> that's it, connell. i don't think we should make light of it at all. i thinkthought that tweet was a forceful, determined statement
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on the president's part and it kind of explained his thinking. i will read the rest of it, because this is the part not getting much emphasis. it will always be the best way to max out our economic power. we're right now taking in billions in tariffs. make america rich again. connell: there is heads spinning in the editorial board meeting of "the wall street journal." >> well, look, max out our economic power. a tariff is not economic activity. a tariff is a tax and a tax on economic activity. the question the markets ask are there these tariffs are going to become chronic, in other words, extend beyond the 90-day negotiating period because if they're long term the american economy will live with a tax on its back. connell: i don't know if you saw charles payne's interview with peter navarro. he is somebody that believes that. we heard and read his commentary for years, but based on his love for william mckinley, the
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tariff of 1890, the mckinley tariff. >> it is the mckinley tariff. the president trump admires the most. we're obviously in an activity of brinksmanship with china. they will really try to force them to the wall and the question who will blink first. i think the president has to be believed, if he doesn't get what he wants, i do think it will go past 90 days if the chinese showed movement on any of these issues, if they don't he is willing to impose these 25% tariffs. connell: another extension is the market's best hope now? >> i say so. connell: by the way the chinese may be hoping for that as well. are they trying to run out the clock? >> they may be trying to run out the clock, making a judgment president trump will be in the white house past 2020. as you said earlier they do have the long view. they will take that the market has to sort this out, what we saw them finally saying we've got a problem at least as far as we can see.
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connell: want to get your view on another issue while you're here and it's france. the president of france, actually the prime minister made the announcement but the president's policy over there i suppose, suspending this gas tax was really one of the big reasons for protests we've seen in recent weeks that have turned violent. this was actually the lead editorial in "the wall street journal" this morning about carbon taxes. so very interesting that the french have now backed off on this. >> president trump's relationship with emannuel macron has cooled some. i wonder if he finds some amusement with what is going on in france because of all the grief he took for pulling out of the paris climate accord. now we're seeing all the discord in paris because president macron to achieve his climate goals is proposing a gas tax on the pretty much people. and the french people are saying this is, we drive our cars to work. you're taxing a means of economic activity for us. connell: right. >> the thing about it, connell that is so extraordinary is, the
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unemployment rate for young people in france right now is 21%. they still very high unemployment rate, barely 2% growth. why emannuel macron thinks it will raise the french economy by impoising a gas tax on all the french people is playing out in fires in paris. connell: there is this whole elitist versus populist, because people -- this would be true in this country, as i'm sure it is in france, if you live in a rural area, you need your car to fill it up with gas. if you are living in the city you maybe you don't need it as much. >> as we noted in the editorial there are recent expressions of opposition to climate levees in washington state in the midterm election, canada, provinces of ontario an alberta, in a way that could endanger justin trudeau and canada. at least there will be a political rethinking how heavily we want to tax people to try to
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achieve these climate goals. connell: dan, thanks, always good to see you. >> good to be with you, connell. connell: a crazy day. cheryl: it's a crazy day. we'll talk more about it. the dow closing down 799. we're well off session lows but not that much, folks. we'll talk about the major selloff on wall street. plus president trump meeting with german automakers ahead of gm ceo mary barra's trip to capitol hill. she is going there tomorrow. she will be on the hot seat. what does it mean for the auto industry's future? that is all coming up next. if your insurance won't replace your car, what good is it? you'd be better off just taking your money and throwing it right into the harbor. i'm regret that. with new car replacement, if your brand-new car gets totaled, liberty mutual will pay the entire value plus depreciation. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪
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connell: if you were paying attention to markets throughout the day today, you missed quite a day today. the selling started early but the president's man of tariffs tweet worked in its way. the bond market started to send a message in the middle of day and the stock market went down as bond yields went down signaling a economic slow-down may be coming. the low for the close, down 800
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points. things closed on dow jones industrial average. s&p 500, the nasdaq, also closing lower today, cheryl, by more than 3%. cheryl: rough day. maybe we get the relief rally tomorrow or relief in the auto industry too. president trump, you're looking at white house, today met with german auto executives from volkswagen, daimler and bmw at the white house you're looking at. this comes ahead of general motors ceo mary barra heading to capitol hill tomorrow. she will have an interesting time. the company announced as you may remember, massive layoffs and plant closures in the state. connell spoke to senator rob portman earlier on fbn. this is about the meeting with barra tomorrow. let's listen. >> bring in another product that can be made this specifically, general motors is making over 20 new electric vehicles over the next five years. connell: do you have any reason to believe she might be willing to bend on that? that you might be able to make progress on that front?
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>> we'll see, we'll see. as she told me she is es hesitant to raise expectations that can't be met. she said she will keep an open mind. that is it what i've been counting on. cheryl: morgan, gary, are back with us. i have to correct myself, markets are closed tomorrow in honor of george h.w. bush national day of morning. apology to the our viewers about that. gary, this will be an interesting meeting with mary barra with the two ohio senators. how much power and sway will they have with a ceo dealing with lower sedan sales? if folks don't want to buy a smaller car they won't do it. what can they say to the senator, do you think? >> i hope they have no sway over here. her job is to do what is right for the company, the shareholders and even though they're getting rid of some people and the rest of the employees. the world has changed, everything has changed. sedans don't sell like they used to. they have to move to something else. electric cars they have to move to that more quickly.
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bottom line they have not done a good job, gm. that is part of it. some companies do well. some companies don't. they have to deal with reality, unfortunately getting rid of some people, shutting some plants. they're not the first company to do it. not the last cop toe do it. what i worry about government telling everybody in their business what to do and that is wrong. cheryl: mary barra, she has to make that the ultimate audience of shareholders of her company. at the same time, what about german carmakers using idle plants from gm or ford? do you think that is something pitched at the white house? >> i wouldn't be surprised if they did. important to note these german auto manufacturers, vw, make majority of all suvs exported around the world and sold in the united states in the south, places like south carolina. the german auto companies are invested in the u.s. it might be easier for them to weather some of the tariff storm but what you're seeing i think as it
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relates to mary barra and german automobile manufacturers, mary barra and gm somehow managed to anger everybody on both sides of the aisle related to this. i think it is little bit harder for gm to make the argument because they took a government bailout. you're not talking about a private independent government sector. you're talking about someone saved by the united states government and president trump, democrats, republicans alike in the midwest feel some ownership. the positive news there, what they said they're not actually entirely closing these gm plants. looks like they're shuttering them because of consumer demand where consumers just don't want to buy sedans right now. so there could be positive news coming. it was a big screw-up for gm to announce it before the holidays, the way they did. cheryl: yeah but at the same time if the economy is good people want to drive a big ol' truck or luxury car or suv. that is the american way of life. >> god bless america. cheryl: morgan, gary, thanks again for being here.
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really appreciate it. connell: senator portman is talking to keep the lords town plant open for electric cars or some other type of vehicles. cheryl: that was a good interview this morning. connell: honoring president george h.w. bush as cheryl said will be the big story tomorrow. today we'll talk about the his impact on the economy. art laffer joins us. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade.
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cheryl: well, long lines on capitol hill as dignitaries, former colleagues, friends, family, gather in the capitol rotunda to pay respects to president george h.w. bush as he lies in state. you're looking at live pictures right now as americans from all over come to d.c. to pay their respects. hillary vaughn is live on the scene. she has latest. i'm sure it is moving, hillary to see so many americans coming in to honor his memory? reporter: cheryl it is. i want to point out the line. it has been a steady flow. people waiting in line, 40-degree cold temperatures with a chance to say good-bye and pay respects to former president george herbert walker bush as he lies in state in the capitol rotunda. americans fly from all over the country and leaders from all over the world. we've seen the visit from south
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korean former minister, seem mir from saudi arabia. bob dole, the former senator stood up and saluted. he lost to push in the 1988 republican primary. we saw john brennan and cia director, gina haspel, pay their respects. roster of athletes paid their respects. peyton manning, progolfer, jack nicklaus, phil mickelson and greg norman paid their respects. sully bush, the yellow lab stayed by the president's side until the final words were uttered paid his respects. he circled the casket and for a moment laid down on the ground below. thousands paid respect and will continue to throughout the day today, and overnight tonight. he will stay here throughout the morning tomorrow. he will make his way first two
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funeral services at the washington national cathedral. president trump and first lady melania arrived here tuesday. former first lady laura bush visiting the white house today, to take a tour of christmas decorations. she described it as a sweet moment in what has been a somber week. also, we are expecting the president, because he announced this morning that he and the first lady will spend time with the bush family at the blair house later today. tomorrow the president has declared a national day of mourning. in all federal offices will be closed. cheryl? cheryl: hillary looking at pictures right now of president trump, melania trump, first lady walking up the steps with of course president george w. bush, entering blair house and former first lady laura bush there, entering blair house. the first lady and president paying respects to the former president and former first lady. quite a moment. connell: blair house the
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traditional guest house for the white house of the president, president trump made available for use bit former president george w. bush while he is in town for his father's funeral. art laffer joins us now, former reagan economic advisor. laugher and associates founder and chairman, to reflect on former president bush to focus on economic policy. anybody watching, you have art laffer on, you are talk about those days, you have to ask him about voodoo economics. it is interesting because, i think most people probably do know the story but for those who don't, briefly george h.w. bush when he was running against ronald reagan in 1980 had criticized his economic policy, cutting taxes and spending more money on military and other things being quote voodoo economics. he was not only criticizing ron are, art, he was criticizing architect of that policy which would be in past well, you. could you talk about that and
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how your relationship developed after that when he became vice president? >> let me say i knew george push, president bush fairly well, not really well. he and mrs. bush i knew well. saw a lot of them during the reagan years. they are the finest people you ever meet. decent, wonderful people, which is a rare commodity in the highest echelons of political life. let me tell you, there are not nice people up there. there are some, you can think of some george shultz, some others really wonderful. but ronald reagan was really wonderful. the bushes bushes were first cll the way. on the economic front he wasn't quite the same. ronald reagan was entrepreneur, understander of incentives. george bush really wasn't. in 1980, in the primaries i think in pennsylvania he referred to voodoo economics. reagan's tax cut plans as voodoo economics. then he referred to me specifically. art laffer is the architect, some economist in california. he had known me before. we won. he lost.
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he came in. and he was the best vice president ever. he served reagan beautifully. connell: wow. >> he just did a great, great job. in 1986 the president asked me to support george bush, which i did. even though jack kemp was usher at my wedding, pete dupont, i had done all his tax reforms, i dropped all that, supported him in the primary in 1988. i went up to new hampshire at the president's request to campaign for george bush with the manchester union leader. we won, it was great. then we came to the convention. now he did his next quote for me, which was specifically on me, they will come back to me, ask me for higher taxes and i will say, read my lips, no new taxes. connell: yeah. >> which happened there. and of course he broke that promise shortly thereafter. the economy tanked. revenues fell sharply after he raised tax rates which is what you would expect. the economy did not do well. wealth of the united states grew
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very, very slowly. he lost the election as a result of that action. but he was great on foreign policy. i have to say some really nice things. he is a manager, not an entrepreneur. connell: right. >> george h.w. bush was a manager and all of the sort of entrepreneurial stuff of reagan, like the defense budget, like the taxes, that stuff. they weren't in his bailiwick. they weren't part of his world. connell: right. >> managing the collapse of soviet union he did the best job of any president imaginable. he was just great on that. connell: it is kind of interesting to hear you tell that wonderful story or set of stories to see the idea, you know, people don't have to agree on everything, economics, but you still have so much respect and you can hear it in your voice in relationship to -- >> they were fine, fine people. i was one floor below them. i used to tease mrs. bush, you know, '84 convention, my room in the second highest floor, they were in the penthouse. i used to teaser what was all that noise going on between you
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and mr. bush? she would say arthur, you stop that. very fine, fine people. i loved them dearly. you know they paid a very high price for their bad economics. they lost the election. connell: can i use that to ask you another question? >> sure. connell: we're covering the market being down 800 points, what have you, in the bond market today, some of the kind of takeaway from some people that the bond market is telling us that this economy, the modern day, the current day economy is slowing down. so is there a chance what happened to president bush, an economic turn that you described, people argue it was coming back when the election happened, whatever the case would be, if the economy turned on president bush and cost him the election in '92, is history about to repeat itself in on president trump in 2020? >> i have no reason to believe that at all. connell: okay. >> it is one day. i remember driving my home from san diego to los angeles in three-hour drive, market was
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down, with in '87 alan greenspan coming in, market down 500 points in market of 1500. down 33% in one day. there is no crash. connell: you think the bond market is signaling a slowdown? >> sure if it would last for a long time it would be signaling a slowdown. it is just a day, a couple weeks. look at all the markets since the election has done very nicely, thank you. the policies in place are just fine. the tax cut is great. i don't see any changes happening there that would make me pessimistic. powell is doing great job at the fed. deregulation is fantastic. when i think what really happened with larry kudlow, kevin hassett and steve mnuchin, you have the three best advisors imaginable giving the president advice. what couldn't be better? connell: powell doing a great job at the fed. you better check your twitter feed. >> i love the president dearly. he tweeted my book out by the way. connell: i saw that exactly. >> how is that for cool? connell: those are great stories
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about president bush. thank you so much. art laffer. thank you. cheryl: a little scandal there, art laffer. connell: that was great story. cheryl: really good story. we'll of course have more for you on today's market selloff, what we can expect to see from stocks this week again. trading is closed tomorrow for national day of morning. stocks will be back open on thursday and of course friday. we'll talk about that next.
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connell: so with this big selloff on wall street, down 799 points on the dow, some saying there are now doubts about the trade truce that was supposedly struck over the weekend between the united states and china. now our next guest says the g20 deal wasn't such a deal after all, wasn't such a breakthrough for president trump. christian whiton joins us, former state department senior advisor. i guess that could have consequences for the president depending how he handles it from here on out, huh, christian. >> it could.
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looks like acquiescence to china. this is something china offered before, a dialogue, a bunch of goodies and certainly the white house hyped this. wall street figured out there is not a deal. what they concluded is we're going back to higher tariffs in 90 days. the chinese will not chuang the economy in 90 days or 90 years unless they feel economic pain. if trump wants a different outcome he will have to go ahead with the tariffs. connell: raise 25%, put new tariffs in place quite possibly. brings up the question, is there more political risk, i think i know how wall street figures this but is there more political risk or being soft on china? >> going soft. george h.w. bush hit a rock. except for perhaps the wall, tough on china, is president trump most pressing issue if
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wall street doesn't get him reelected america will. connell: the economy slows, put tariffs in place, eventually taxes on consumers leads to a slower economy that could still hurt name politically but you're saying not as much as the other way around? >> because the market is dress click i overreacting. we import, sell 130 billion worth of bucks, less than one-half of economy. total china trade, 3% of the economy. higher tariffs. 25% on the imports, talking about $100 billion in taxes. this why the market, because they don't want to give credit to trump for deregulation and cutting taxes they're hyper-focused on china. it is an overreaction the we'll not slow the economy down by getting tough on china. connell: i don't think they know what to expect at this point. could be good for bad. could be good for negotiation but not buying and selling stocks on day-by-day basis. christian, thank you for coming on. >> thank you, connell. >> good points there. setting the stage for 2020. today's selloff raising
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questions about the future of the booming nation, our economy. how crucial is economic growth when it comes to the next presidential bid? our panel will weigh in next. place, the xfinity xfi gateway.
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cheryl: huge selloff today bringing economy into focus for potential 2020 democratic candidates. joe biden tooting his own horn on the bookstore telling the audience he is most important qualified person to be president, gaffs and all. will it come down to experience in the next presidential election? who is the moats qualified when it comes to the economy. bring in democratic strategist, christie setzer, new heights communication president, and bre payton, staff writer at "the federalist."
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if we're talking age before beauty, look at ages of these potential candidates. if we go for older, more experienced candidates, here are the choices. president trump is on the list. he will be 74 but joe biden at the time of this election would be 77. elizabeth warren, 71. bernie sanders, 79. even hillary clinton if she decides to jump in here, 73. what do you make of that, bre? do we need that experience? >> donald trump himself is not pa spring chicken. i don't know age on the democraticside of the aisle will be that much of a factor, that much of a difference in terms of donald trump. they do have a lot of talented individuals who are a lot younger. i think it is kind of interesting of those who average into this level tend to be older. the thing about biden specifically, his candidacy after brett kavanaugh, me-too moment we were experiencing should be politically untenable. it will be interesting to see if liberals live up to the standards of me-too, live up to the same rhetoric they pushed
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out during the brett kavanaugh confirmation or going to completely reverse themselves. cheryl: here is, that is the question for you christie. let's talk about this. look at possible democratic challengers, there are some younger kids, if you will on the list, but they never really done anything yet that has stood out. thinking about cory booker in particular. kamala harris is on this list. senator klobuchar on there, kirsten gillibrand. a lot of folks in the younger category, mayor bloomberg. >> mayor bloomberg? cheryl: he is not young. him and biden are on the list. you look at younger folks maybe they need in the democratic party more diversity? maybe they need a youthful voice and time for a new path for democrats? >> what is so interesting about it, there are a lot of different credible arguments different potential democratic nominees can make for how we best contrast to donald trump and to
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the republican party. so there are some who can say, look, i may be older, allah elizabeth warren, bernie sanders , et cetera but i will give the best answer when contrasting on the trump tax cuts. i'm the one who will say, tax cuts are for the wealthy. all the work i've been done working on working people, make sure people get their fair share. a certain segment of people can run who can make those kind of arguments. cheryl: right. >> there are younger who can make different arguments. they will not overtly argue why we need more diversity on the national stage but it will be obvious that will be one of the appealing factors. cheryl: christie, look at alexandria ocasio-cortez. a young girl from new york who is making a big impact. not saying she is going to run. she is not in 2020. bre, both of you, is she the future of the democratic party?
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bre, to you first? >> i think it is honestly disturbing republicans don't have equivalent of alexandria ocasio-cortez on their side of the aisle. i do think as a young conservative myself, it is frustrating to see that there are no young woman who have been elected in this term who look like me, would represent a lot of things i feel passionately about but think when it comes to joe biden, we need to talk about his creepy behavior, groping young women. cheryl: that is another discussion. >> people want to set themselves on fire. cheryl: before we talk about creepy behavior, christie, last word to you, christie, to you, alexandria ocasio-cortez? >> i agree with them, i agree with bre, making some of my points for me. court courts -- alexandria ocasio-cortez is incredibly exciting, both in tone and issues to the party, the fact she is young woman of color. she is absolutely the future of the party. cheryl: ladies, thank you so much. great to have you both here. >> great to be here.
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connell: we saw emotional powerful comments earlier today from jeb bush. he was speaking in washington about his father, president george h.w. bush and his legacy. we'll bring high lights from those comments next. sher calls o you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3 ♪ trelegy 1-2-3 trelegy
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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. connell: back to washington, official presidential guesthouse across street from white house, president trump and first lady, leaving after meeting with the bush family. >> edward lawrence is in washington, today, jeb bush was speaking at the "wall street journal" ceo counsel meeting. >> they heard from former governor, son of george h.w. bush. jeb bush said that u.s. is still dynamic country with good-hearted peal.
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people. >> a lot of people are focused on solving problems, they know about compassion and generocity of spirit, you can do more, i am more optimistic, because i don't come here often. connell: he hopes this is not end of an era of civility. other thing conference heard about, trade ceo heard from law kudlow, who remains optimistic about what came all of meeting between president trump and president xi . and bolton said that u.s. needs to make sure china follows through. connell: thank you. >> a lot of questions, we have about that. connell: those questions will be answers tomorrow morning, that is what i'm told, cheryl wakes up bright and early every morning, you can see her along
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with her little friend lauren. cheryl: do i tell lauren, you called her my little friend. connell: i love lauren and you. bulls and bear with david asman starts right now. david: this is bulls and bears, i am david man david asman. on the panel today, will stock rock to dow diving nearly 800, after larry kudlow said this about a u.s., china trade deal. >> it may not get done, okay? i'm saying that it looks to me like the ball is being moved in the right direction. much more than past 8 or 9 months, but i can't sit up here and say we'll get this, this

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