tv Mornings With Maria Bartiromo FOX Business January 11, 2019 6:00am-9:00am EST
higher overnight. oil, meantime, heading to the plus side. the price of crude on its longest upward swing since january of 2010. it was in a deep bear market and then, boom, soaring. plus, miracle in wisconsin, missing 13-year-old jamie kloss has been found alive. she was kidnapped and her parents murdered last october. details of her remarkable rescue. more trouble for carlos ghosn, the new charges the former nissan chairman is facing, that'that's straight ahead. lindsey bell, former republican presidential candidate, steve forbes, fox news contributor and former economic advisor to president obama, robert wolf, welcome one and all. you want to get to it, you ready to get to it, talk about the shutdown and who is to blame? >> the focus is on the shutdown. but the real focus should be on whether we're going to get that
chinese deal which i think we will get something in the next couple months. if we don't, it's going to be trouble for the economy and the global economy. the shutdown, he will declare an emergency and it will go to the courts and then the he question will be how many republican senators are going to defect and try to come up with something around the white house. dagen: hold that thought. hold that thought. that's our top story, shutdown and the showdown, the white house directing the army corps of engineers to see if it can divert money from disaster relief to fund a southern border wall, as the president decides whether to declare a national emergency to pay for the wall. the commander in chief was at the border yesterday and answered questions from sean hannity about what he might do next. >> you said earlier today that it's likely -- you're very likely going to declare a national emergency. how soon will that happen? >> if we don't make a deal with congress, most likely i will do that. i can't imagine any reason why not. i'm allowed to do it. the law's 100% on my side.
if we can't make a deal with congress -- we should be able to make a deal with congress. democrats in congress, especially the new ones coming in, are saying wait a minute we can't win this battle with fox because it's common sense. how can we say a wall doesn't work? cheryl: the shutdown entering the 21st day, tied for the longest in history. steve, say that again, and i will push back because it doesn't seem like based on the reporting, everybody within the white house is on-board with this declaring a national emergency, including jared kushner and kellyanne p co conw, continue. >> they'll try to find a way around it. he will declare a national emergency. we should know by now this president makes his own decisions when on something like this, he thinks he can win. he's not going to back off many it's going to go to the courts. you'll get injunctions here, overturns there and congress will try to do a run-around, especially when 800,000
government employees don't get their checks. you'll see republican senators peel off and try to come up with a solution. dagen: so steve, jared kushner, this is according to the wall street journal, he's been lobbying for restraint within the white house because if they declare a national emergency it's going to go to the courts, so it's not going to immediately result in money going to actually build the wall and kellyanne conway said you're letting congress off the hook with the quote that the wall street journal has about her concerns about this. >> he will still do it. they will find funds many one of the nice -- not nice things, but one of the things about governments that spend so much money, there's money all over the place, especially in the defense department that you can easily divert one way another. it's going to go to the courts. it's going to be as hardy said to laurel, a fine mess you've gotten me too. dagen: go you ahead, robert. >> i would say we should bifurcate the two things, the government shutdown and the
national emergency. with respect to the government shutdown, it's clear that congress wants to open the government. you already had the senate pass -- the senate gop passed the bill before year end and the democrat house passed the same bill post year end. it's clear both sides want to open the government. there's a deal amongst the congress to be done where you open all the agencies but for homeland security, you open under continuing resolution and then you have the fight really just about the border security. the second part of that on national emergency, you already have someone like marco rubio coming out and says he's not supportive of that because then there's climate change with the next president, if it was a democrat, a national security -- a national emergency. should we shut down all carbon emitting companies? and then you had susan collins say, you know, we're not going to move defense military budget, okay, for a wall. so i think you're seeing a little breaking on the republican side. i'm not sure where it ends up
going but the one thing i would agree with steve, that president trump does what president trump wants. dagen: one thing i want to point out is the republicans criticized president obama for over-reach in basically governing by fiat with the daca decision to give protection to the dreamers which by the way is being the challenge to that by this administration is being heard in front of the supreme court today. so again, it's they like emergency powers when it's in their favor. that's one of the reasons you're getting pushback. >> to make sure -- we also all hated the government shutdown when it was under president obama. i think most of us don't like the idea of government shutdown. dagen: to push back on something that robert was saying, you can't -- what happened in the oval office meeting yesterday, the day before, was president trump looked at nancy pelosi and said okay, a month from now are you going to get on board with this wall and she said no.
now, that's why you have senator lindsey graham who looked like he was trying to broker some grand deal, grand plan -- >> if the president was interested in a deal now, that's not the question you pose to nancy pelosi. you pose it in a way in which she has wiggle room to go to her base. >> exactly. >> and then you come one a deal on daca. >> exactly. >> throw money in for chuck schumer's cros cross-hudson tunl and call it a day. dagen: whose responsibility is that, the republicans or the democrats to come up with an idea for a compromise. >> it was the president's responsibility to leave an opening where she had wiggle room. this will play ought fo out foro weeks. there's a bunch of new people in congress. they are wrapped up by their base. they have to say we fought the s.o.b. tooth and nail and overing elseverything else and t down and everyone will declare
victory. dagen: you have lindsey graham commenting on the shutdown yesterday. he looked like he was trying to come up with an idea of a compromise. and then he said this. >> there's no pathway forward i can see. seems like the only way left is for the president to exercise his authority. it's time for somebody to act. if the congress won't act, the president should act. we need to do something. i mean, we need to have an end game. if the end game is an emergency declaration by the president, do it, do it now. see if it works. if it doesn't work, you do something else. but sitting up here doing nothing is a disservice to everybody. dagen: sigh, i lindsey, i want you in here. >> declaring a national emergency, isn't that giving the democrats exactly with that want? it will be a long, drawn-out process. look at daca. it's been in the court system since 2017. so this is going to take some time. in my opinion, it's giving the
democrats what they want, to jared kushner's point, it's not a clear-cut way to get what you want. to your point about trump and nancy pelosi, he has yesterday finally started talking about a compromise. he's used that word a couple open timetimes in the interviewn hannity. he seems to be willing to make some sort of deal. it's like a will of nancy pelosi. >> which is why congress today, if you -- if the senate voted to open all the agencies and do a continuing resolution on homeland security, for the next 30 days, they would just focus on an immigration deal, not comprehensive, but on daca versus border security and there would be a deal 30 days from today. dagen: that's what the president should cave on and hope that some deal comes together in the next few weeks? that seems to be what you're suggesting. >> i think he's going to declare the national emergency. he's going to show that he's fought every inch of the way. when the compromise comes up,
he'll say we -- he's going to get a piece of that wall. they have to give him a piece of that wall. and they'll get daca in return. they can each go to their base and -- one of the things the democrats can say behind the scenes, we win in 2020, we can tear that wall down. >> but the democratic -- >> they won't do it. just exact just factually. last year's budget they gave $1 billion to the wall. they haven't yet used that. they offered 1.3 to 1.6. we're talking about is it going to be as high as 2.5 or is it going to be as hig high as 5.6. there's a number that will be agreed upon. dagen: 5.7. >> it's not going to be 5 p. >> they're going to resolved this in two or three weeks just because the public's going to be fatigued with with it and they're going to come up with a way -- >> you can't read the coast guard things we're reading and
fda things we're reading, they're not looking at food and the coast guard they're asking people to have garage sales, i mean, honestly, we have to get these people back to work and pay them. dagen: also, let's talk about the economic impact really quickly. you've had the head of the fbi agents' association coming out saying law enforcement can't do their job correctly because of the shutdown. farmers are outraged. they already got stuck by the tariff fight, the trade fight with china. whether it's for the right reasons r not, these are people that voted for president trump and time and again they're getting the shortend of it. >> they did not vote for republicans last no. dagen: there's a lot of districts that didn't in the midwest. what is the economic impact? ultimately is the outrage on the ground across the country, does it force anybody's hand. >> if you look at the bigger picture, there's usually not a huge impact to the economy. part of that is because the
furloughed employees, the people that aren't working right now or working without pay, they usually get back pay and president trump has said he will sign a law, any bill that will promise that and then also i think this time around what's very important is that the trump administration wants the irs to stay open if this does go through the end of the month and into february, $101 billion were paid last year through february 16th in tax refunds and that will come back into the economy. so i think that's a little bit of an offset as well. >> i know we're doing a hard wrap. if i could add to lindsey's point that this is different than years past. two things. the chair of the cea, mean kevin, said we're losing one-tenth of percent of gdp each week. you don't necessarily get that back. i know we're singing kumbaya that federal workers will get their back pay, but contractors are not getting back pay. when we looked at the number, a
large number are nonfederal employees that are not getting paid. i don't think what we know is what it's going to impact the comply at this point. dagen: final world. >> it's going to be de minimis. we're focused on the shutdown. he focus on china and an trade d what happening in europe. dagen: national emergency, that goes to the courts. shutdown, over, and then they somehow come up with some grand bargain on immigration? that's your idea. >> yes, not mine. >> what do you think? >> i don't think he goes to the national emergency. dagen: you don't? do they reopen the government? >> there's a deal that they end up doing. dagen: okay. we're going to be talking about this for three hours. all day long here on fox business. coming up, incredible rescue, wisconsin team jamie kloss found alive. kidnapped, her parents murdered three months ago. the remarkable details. plus, new charges against form earn any sta nissan chairman cas
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dagen: a california female police officer shot and killed. cheryl casone has details on this developing story. cheryl. cheryl: another story like this, dagen, to bring to you this morning. police in northern california say that the 22-year-old officer, natalie corona, was fatally shot after responding to a traffic accident. she had only been on the job a few weeks. her colleagues are in mourning. >> i've heard her describe our officer tonight as our daughter and friend a sister that we all wanted. this is just an absolutely devastating loss to the police department. cheryl: it was not clear what prompted this shooting.
police say a suspect later died of a self-inflicted gunshot wound. the suspect's identity has not been released. at least three police officers have been shot and killed so far this year. well, 13-year-old jayme closs has been found alive after being missing since october following the murder of her parents. a suspect has been taken into custody following a tip that was phoned in to police. closs was found in gordon, wisconsin, about 70 70 miles frm where she was kidnapped. she was reunited with her family last night. >> she's alive and good, we'll get through anything. time to move forward and bring justice for my sister and brother-in-law and we'll get through this with jamie together. it's a big family. i can't wait to hug that little girl. cheryl: she was found wandering the streets and stopped somebody for help. that's how she was found they're going to be holding a news conference today at 11:00 a.m. eastern time to discuss the
details of her rescue and hopefully more details on the suspect. former nissan chairman carlos ghosn indicted on two additional charges overnight. he was charged with aggravated breach of trust and for understating pay by 4 of millio. ghosn had already been charged for under-reporting earnings by $46 million. he's been in a detention center in tokyo since november when he was arrested. his lawyer also says the 64-year-old had a fever but is now at least feeling better, dagen. we saw the sketches from the courtroom. he looks pretty thin. the breach of trust, it's aggravated breach of trust, adding to all of this. looks like they'll keep him in jail. dagen: incredible story. thank you so much, cheryl. what do you make of this story about carlos ghosn? >> it's clearly an outrage. it's amazing that a developed country like japan doesn't have habeas corpus. we helped write their constitution after the war. didn't we put that in there?
the idea you can hold somebody for months on end, coming up with charges which are now looking more flimsy and flimsy, not letting him be released, his lawyer had to find a loophole to allow him to make a statement in public. it's astonishing that a country like japan treats somebody like that. dagen: it was a corporate coupe, they were setting him up. >> the whole police apparatus went along with this thing? something at best would be civil and now they're trying to break him. they want a confession. that's why they keep piling on charges, torture, you come at them and get a confession. dagen: more corporate executives should be speaking out about it. coming up, flexible says the fed, federal reserve chief jay powell says that the fed is going to be more patient on interest rate hikes. what it means for the future of the economy. and oil looking to gain this morning, on track to hit its longest winning streak in
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dagen: we've got losses across the board this morning. they're ever so slight, a 14 point loss on the dow futures after all the market gauges closed, higher for the fifth straight trading session. optimism about the trade negotiations and comments from the federal reserve chief, jay powell. >> in the short-term, if government shutdowns don't last
very long they've typically not left much of a mark on the economy. there's plenty of personal hardship that people undergo but at the aggregate level, the economy does not generally reflect much damage from a shutdown. a longer shutdown is something we haven't had. if we have an extended shutdown, i do think that would show up in the data pretty clearly. i don't see a recession. i would say if you ask me what am i worried about, i would say the u.s. economy is solid. there's good momentum going into this year. the principal worry is really global growth. if you look at say sharks look at europe, -- look at asia, look at europe, you're seeing slowing in growth. the he question is how much will that affect us. i don't think the tariffs on either side have much of a visible mark on the chinese economy or the united states economy. in other words, chinese exports and imports don't show any mark from that. we have a 20 plus trillion dollar economy, the amount of tariffs so far just doesn't show much of a mark. and again, we don't do trade policy. we don't give the administration
advice on that. i would never comment on the administration's trade policy. >> are you worried at the fed about the enormous amount of debt the federal government has? >> you know, so i'm very worried about it. from the fed's standpoint, we're really looking at a business cycle kind of length. that's our frame of reference. and the long run fiscal nonsustainability of the u.s. federal government isn't really something that plays into the next -- the sort of medium term that is relevant for our policy decisions. it's a long run issue we definitely need to face and old ultimately will have no choice but to face. dagen: joining me now, ken mahoney. the most important thing jay l powell said yesterday is the fed riel reserve -- he is going to be flexible on the interest rate outlook. he used the word patient or patiently five times in the interview. >> good, because he was i'm ism
impatient and infectionable inf. he's dusting off the textbook from 1965 and looking at the real economy, real numbers and saying we've got to pause this for a bit. >> doesn't it show that donald trump won the battle, that when he went after them, suddenly they went from hawkish to dove o doveish about 2019? >> the data points, from mortgage applications, to the markets, the yield curve, it showed the fed that the fed was wrong initially and the market was right about what's happening. >> i want to look forward forward-looking into the first quarter, not backward-looking. when you look at the government shutdown, the fed, brexit, china, when you look at the first quarter, i don't want to just talk the next week, because there's no fed move until maybe
march, what keeps you up at night of those type of things going on? >> again, i think the fed we could check the box that hopefully that's behind us. government shutdown, i hope they can get rid of this thing. there are bottlenecks that are happening. i think china trade is really important. the march 2nd deadline and the way trump negotiation he'll probably bring it right to the march 2nd. that will make investors nervous. we had a nice rally, we're selling into the rally a little bit, keeping cash on the side untiside alittle. >> i know lindsey wants to chime? > in.>> what's the probability a downturn. it feels like sentiment in the market is starving to change because you've got the fed doing what investors want, saying the right things, being more doveish. you've got trade moving in the right direction. what's the risk here? we're going into earnings season. >> look, i feel like if we limp
into earnings season, expectations are low, but we're rallying into earnings season. we may get a selloff because of that i think the miscalculation some people are making right now is this is a yellen or better bi put. we should feel comfortable. >> you i want to take the other side of what happens with the fed. in the last employment numbers which were incredible, both on the private sector side and wage growth, was good, and that was post the ninth straight hike. >> sure. >> some people say, well, you know what, the fed rase right wt doing the hike in december, look at the numbers. some people are getting nervous about wage pressure. >> it's not showing up in inflation. >> we're not seeing inflation. we have 90 days to get there. >> look, i think the policy which was, hey, you know what, higher wages, it's too much money chasing too few goods, that 1965 kind of mantra, and we
have disrupters, amazon and walmart pushing prices lower, there's a lot of things going on that you can't use a 1965 textbook, too much money facing too much goods. >> what business does the fed have trying to calibrate this economy? >> by their own admission in the december 18th hike, talking about inflation expectations being here and actual numbers came in here for the last couple years, the models were all false. they kept saying we think because unemployment rate is this and wage growth is this that inflation should be this. >> predictions in the last 15 years except for two times have they ever been right? no. they should stop it. dagen: it's too late. they have a balance sheet that's finally below $4 trillion, $50 billion drawdown every month. the only thing that gave investors solace last friday and this week is they will change course on the balance sheet reduction if need be. again, they're already there, steve. they're already there. >> i love how he says he's
worried about the debt. the fed was the biggest enabler in the growth of the debt after 2009. dagen: they are indeed. they are indeed. they've got the back of all these free-wheeling republican and democratic congressmen and president, they love to spend borrowed money. i don't know why people worship spending out of the government. i'm from the government and i'm here to help, the scariest words in the english language. thank you, ken. coming up, shutdown showdown, day 21. president trump could declare a national emergency. what that would mean, next and even for the next president. and hanging up that racket, british tennis star andy murray plans to retire this season. his cheerful yo announcement, -- his tearful announcement, straight ahead. ♪ as a fitness junkie, i customize everything -
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dagen: i am dagan mcdowell in for maria bartiroma. your top stories at 6:30 eastern. border battle, the white house asking the army corps of engineers to look for ways to get money out of other projects to fund the border wall. donald trump hinting he could declare a national emergency. the funding leaving the united states on day one of the partial government shutdown, the us tied for the longest shutdown in the history of the country. flight losses on the futures at the moment, 18 point loss on the dow. the longest winning streak since october, the biggest bounce back in terms of percentage gains in a decade from that christmas eve low.
122 point gain on the dow. the wall street rally hitting day 5, a more relaxed forecast for the central bank. >> we are in a place where we can be patient and see what does evil and we are waiting. dagen: we have flight losses in europe across the board. if you check england, france and germany a gain on the ftse 100. asian markets higher overnight, gains across the board. kenneth starr, andy murray, announcing a tearful announcement of leaving the sport. details on the sopranos prequel movie as the stars celebrate the show's 20th anniversary. hbo sent out trades of baked the 82 members of the press.
our top story, shutdown showdown, the partial government shutdown tied for the longest in recent us history. no deal incite on funding for the southern border wall, donald trump trying to make his case to the american people visiting the border yesterday. he spoke to sean hannity about the democrats and their opposition to the wall. >> they come to the southern border because it is considered the center of the place where they can get in and we wants to close it up. these people have done the greatest job. it is hard work and it could be easier. it would be virtually 100% effective. nancy and chuck know that but it is politics, it is about the 2020 campaign, running for president. they are already doing it. it is a shame. dagen: the question is whether the president will declare a national emergency. lindsey graham says that is exactly what should happen. democrats are not working in
good faith with you, declare emergency, build the wall now. and good to see you this morning. do you think national emergency is the way this president goes because there's even push back within some of the white house from jerrod kircher and kellyanne conway, only do this if you know it will fund the wall. it will get held up in courts almost immediately. >> this is a pretty immediate mistake. of senator lindsey graham is bluffing in the way he thinks he is and once the deal i think most people have been following, republican politics believe he wants. and shot down by a court injunction and more than anything, extremely dangerous precedent for any democratic president in the future in
terms of the powers of the executive branch. dagen: let me follow up on one thing. you said lindsey graham is bluffing. lindsey graham had been behind closed doors, introduced the idea of a compromise, this was before the new year started. and putting in protection for dreamers, whether temporary or not and that would be the basis of a compromise. behind closed doors discussions with other republicans about this very thing. how is he bluffing? >> calling on the president to declare a national emergency, this would take pressure off of congressional democrats. and congress needs to do its job. and trump may be petty in choosing the 11th our position, it does look even worse for the democrats to not be willing to attribute $5 billion which is a drop in the bucket in
comparison to the federal budget which is in the trillions. trump needs to hold out and show that he's not dealing with people who are interested in securing amnesty for daca recipients in a kinder immigration system. is dealing with a lot of open border extremism. that takes pressure off of congressional democrats, making the court's gave good. >> if the court ends up blocking this thing does not set a precedent in the future, democrats in 2020 will not be able to use a national emergency on the climate change and all that kind of stuff, that could end of restricting the government in the future just as when harry truman sees the steel mills during the korean war, the supreme court said no no no. >> at the same time the supreme court authorized, gave a win to fdr and allowed him to encourage american citizens.
trump's number one goal is to secure a wall here declaring a national emergency is not going to be effective in helping him play more hardball. >> what impact will it have on public opinion? >> i think it will make the president seem rational play into the greater liberal media narrative the president is acting impulsively is not necessarily listening to his advisors and quite frankly he is within his rights to tell congress the american people voted me in, they want more border security. what he is asking for a sensible. when the gang of 8 built-up 68 vote in the senate five years ago people agreed to $4.5 billion for more border security, it was not a physical barrier but the point was hundreds of miles of fencing. the end goal has not changed too much. dagen: the editorial board weighed in on the border stand
off in its op-ed entitled trump's presidential emergency, quote, writing if donald trump did win in court, president elizabeth warren might take the president has licensed to circumvent congress whether it is politically expedient, political spending fight over the wall doesn't warrant a national emergency radon military funds. i want to get everybody in here. this would be different from what truman tried to do with steelworkers in steel mills in the 50s, he didn't invoke congressional he delegated power in that instant. the president and his advisers, basically a statute that allows the defense attorney to undertake the american certain projects. they know what happened in the case of youngstown steel. at this point i want to point that out. >> what truman did with the
case of overreach and what roosevelt did in world war ii once the emotions went down the supreme court in effect, is attorney general of california later became supreme court justice, chief justice apologized for what they did to japanese americans during the war. dagen: i was pointing at you. that means go. >> i was going to ask about that. are you still on? i was going to ask, let's take a public -- in the last week, prior to that, you had will heard who actually overseas in congress 40% of the 2000 miles, 800 miles, and representative foreign berry who ran armed services for the republicans when they were head of the house, they both came out against the wall. we want to make that everyone is for the wall but these are two of the senior congressman from texas who said no. dagen: go ahead.
>> there are more pressing issues when it comes to illegal immigration than physical barrier along the southern border if you look at people overstaying visas, the very real problem with chain migration, being affectively endless. these are all issues trump could get a compromise from but the wall has become a deeply emotional issue on both sides that people are projecting hopes and insecurities onto. the president promised a wall and that mexico was going to pay for. seeing the latter will not be true, and the former is something he's going to make held to die on it has to come out effective. he cannot translate hardball and will lose in court and that congressional democrats get away with it. dagen: i will end with this. one of the problems is the president on the campaign trail was a little too flippant about
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>> reporter: cristiano ronaldo facing award from vegas police sent to authorities in italy where he's accused of raping a woman in 2009 and paying for $375,000 to keep quiet. he's denying all accusations. the first grand slam tennis tournament is going to be the final australian open for andy murray. only 31 years old. mary announced yesterday he's going to have to retire soon. he became emotional before speaking with reporters, sat down and left. when he came back emotions remained tender. >> i think i can get through this. until wimbledon. that's where i would like -- that is where i would like to start. >> in what could be the final match of his career next week,
he's in the open round of the australian open. tim tebow is making to the altar. is off the market, he got engaged, shared this image on instagram with his bride to be, in this universe 2017. dagen: this is me not being negative. somebody called me a filthy name on twitter this morning so thank them for that, thank you for that as well. coming up, back in the family 20 years after the debut of hbo's iconic so the sopranos, a prequel to tell you about is next. population is self-employed. lobster fisherman is the lifeblood of this town. by 2030, half of america may take after stonington, self-employed and without employer benefits. we haven't had any sort of benefit plans
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>> my name is bella. >> we played ball and don't you shoot. >> don't you shoot. dagen: that was a dog's way home, family drama centered on the dark struggling to reunite with her owner. chief film critic mike sargent, what do you make of this movie? will be a hit? >> i think it will be a hit, there's nothing else like it. this is not a sequel to a dog's purpose. same author but the sequel to that is coming out in may and that is called god's journey. dagen: as long as you put a dog in the title and then the trailer. do these films do well?
i think animal films and dog movies -- >> absolutely. not only do they do well, and this one is almost like a disney movie, where there is an adventure and a cougar and all kinds of things like that but it reminds you of animals to have love and loyalty and all the things we equate with being human. dagen: to quote bill murray from caddy shack, dogs and cats living together. that was ghostbusters. opening this weekend is the upside starring kevin hart and bryan cranston. what is this movie about? bryan cranston is quadriplegic in the film and kevin hart enters his life. >> the story behind this movie, is interesting as the movie. this is based on a real-life situation that happened between french aristocrat named philip deboer go and this really happened. it was made into a french film
in 2011. the second biggest french film ever phenomenon. they made two other remakes, argentine one and an indian one. this was supposed to come out a year ago but it was a weinstein films i don't have to tell you what happened there. it is truly the store, the reason it has been made so many times, it shows your past is not your destiny and unlikely friendships can be transformative and that is what this is about. kevin hart, bryan cranston has won enemies for drama. dagen: as a tony for portraying lbj. i met him after that. >> you forget how funny he is. he goes to to do with kevin hard. dagen: he is very funny in person. let's talk about the sopranos because that is everything you would want in a tv show and there is a prequel, yesterday was the 20th anniversary and there is a prequel in the works, returning to a familiar location. >> yes.
♪ don't stop believing ♪ dagen: new york post reporting the crew has film scenes at the restaurant from the show's finale. that was the final scene of the film. what do you pick of this prequel? >> david j says it takes place in the 60s when there were race riots and organized crime in that intersection. he grew up in southern new jersey. it was interesting to him. they were going to do a sequel but once get golfing any past, this is going to focus on young tony, more on his dad. it should be really interesting. dagen: we will eat baked ziti and do a binge rewatch of the sopranos over the weekend,
please come back. still ahead apple presses on. planning to release three new iphone models despite sluggish sales. that is on the next hour of "mornings with maria". ♪ of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms. serious allergic reactions can occur. for all the things that move you. ask your doctor about taltz. . . .
dagen: good morning. i'm dagen mcdowell, i in for maria bartiromo. it's friday, january 11th. the shutdown entering day 21. tied for the longest in u.s. history. president trump now considering declaring a national emergency and using disaster aid money to fund the border wall. >> my sacred duty, most sacred duty as president is to defend the people of our nation. that's whether it's from foreign nations or along the border. it's all defending our people. and defending them properly and strongly and really rightly, justly. dagen: futures are showing this
this morning, 29 point loss, 30 point loss on the dow futures. investors are waiting for some headway, like some evidence that a trade deal is coming together with china, although optimistic about the progress so far. yesterday all three of the major market gauges gained about half of 1%, markets on their longest winning streak since early october. in europe, we have losses to report across the board, in england, france and germany, although slight there. asian markets, all four major asian markets finishing higher overnight. oil headed to the plus side this morning. the price of crude oil on the longest upward swing since january of 2010. plus, hail mary, details on apple's plan for a new phone the company hopes will pull it out of the iphone sales slump. shark attack, the hit song, baby shark, makes history. we will bury it in your head
and you will not be able to get rid of it. here with me to break it down, cfr a a investment strategist, lindsey bell, former republican presidential candidate, steve forbes and fox news contributor, 32 advisors founder and ceo, former economic advisor to president obama, robert wolf. welcome one and all. >> great first hour. dagen: you're such a flatterer. >> great first. dagen: because you're here, you're here, you're here. someone called me a nasty name on twitter. i'll take that, that's fine. >> just think of the shark song, works with 3-year-olds and 1-year-olds. dagen: do you know the song, steve? >> my 3-year-old can cite it. dagen: i just love it, deeply and profoundly. we'll get to it later this hour. weighing a national emergency, white house exploring new options to fund a southern border wall as lawmakers remain at a stand still over any deal.
the behigh white house directine army corps of engineers to divert funding if necessary. president trump said a border wall is the only solution. >> it's common sense. it really is, when you think of it, whether you're into the world of law enforcement like these incredible folks behind us, it would make their job so much better and they could also go to other areas, because we have the wall, you don't need so many people. we would probably pay for that many times in one year. the law is very clear. we have the labs lieutenant right to declare -- the absolute right to declare a national emergency. if you don't have a barrier, whether it's a steel barrier or concrete wall, substantial and strong, you are never going to solve this problem. dagen: joining us now, fox news contributor, former speaker of the house and author of trump's america, newt gingrich. mr. speaker, it's always a pleasure to see you. i am dying to hear what you have
to say about this. what do you say about the president potentially using emergency authority to get this wall built? >> well, if the lawyers tell him that it will withstand a court challenge, he has every right to do it. he's commander in chief and the congress allocated money for the defense of the united states. i do think there's a certain value to him fighting this out. every day that goes by, it's more obvious that the democrats don't value the safety of americans nearly as much as they value the convenience of people trying to get here illegally and every day that goes by i think the fact that the democrats won't compromise, nancy pelosi saying if you give me everything i want, i still won't give you the wall, i think that attitude is really bad way for them to start with a new congress. and so i think in many ways this is a key moment for the president in defining what's at
stake for the country and in shaping the next two years. dagen: will the republicans continue to stand with him? that's what -- in terms of will their knees buckle or do they have -- do they have the gusts to stand with him -- guts to stand with him? >> it doesn't matter. if he's prepared to veto a bill, he's certainly going to keep one-third plus one of the senate and one-third plus one of the house, so he'll sustain any veto he wants. if some republicans at the margin want to be tim mid, they want to be panicked, they want to run in circles, the way our constitutional system works, a president who is tough and determined has enormous p advantages. p i think he in many ways can relax and just say -- first of all, senator mcconnell said he won't bring up a bill the president won't sign. so it's not going to go through the senate. nancy pelosi can -- she can
perform a ballet act, she can jump up and down, it won't matter. it won't change anything. she can't force it through. >> mr. speaker, sounds like you don't think the president should declare a national emergency but simply let the thing play out, is that what you're saying, you'd advise him not to do that, he's winning already, why mess it up? >> look, i think if you got -- first of all, i think what he said all along is the right position. he is not going to sign this appropriation unless he solves -- >> you don't think he should do a national emergency? you're saying he can't but you don't think he should? >> i think it's less powerful than winning this fight. he's got decide what he wants to do i always tell people, when you start thinking about any kind of campaign, military, political, you always have to say then what. okay? tomorrow morning he declares a national emergency. it goes to court immediately. but nonetheless, we're moving in
the right direction. he can't really declare victory over the congress. at that point what he's done is he's had a clever detour to get around the congress and that's not going to solve the long-term problem. the long-term problem is nancy pelosi who has a crazy wing of her party now, a wing which is totally out of touch with reality, nancy pelosi right now thinks that she is the equal to the president. i went through this. and we won and ultimately got a very important agreement with president clinton because we had a principled positive goal. nancy pelosi's goal is purely negative. our goal was to get to a balanced budget which as you know, steve, we were the only people in your lifetime to produce four consecutive balanced budgets. that came out of having what was tied today as the longest shutdown in history. you don't do these things lightly. >> just quickly, mr. speaker, gets to another thing the democrats are talking about a 70% tax rate and all that kind of thing when are the republicans going to put
something exciting on the table going on offense, like a flat tax, instead of letting the democrats dominate the agenda on taxes. >> i hope they'll do it pretty quickly. although i must say, if you want to think about a suicideal party, being the party that runs next year vote for me and i'll raise your taxes to 70%, i don't see how a new yorker survives that. i hope every successful person in new york is looking at what the left wing of the party wants to do to them. when you combine state, city and federal taxes, a 70% rate would be a killer. dagen: the congresswoman who threw that idea out there, how many days had she been an actual member of congress and they put her on 60 60 minutes for pete's sake but that's another problem. the government shutdown reaching day 21, that ties the '95, '96 government shutdown under the clinton administration. you remember this well. you were speaker during the
shutdown. it was -- if you look back, though, do you have any regrets about what happened back then? >> no, and i think the washington establishment is just totally wrong about this. we were the first republican congress in 40 years. we had a position we believed in deeply. we were prepared to fight over it. the reward was in 1996 we became the first republican house reelected since 1928. all these so-called washington smart people go around and say boy, that really hurt the republicans. we're the first people that got reelected in 68 years. it's because our base believed we were real, we were committed to welfare reform, committed to the largest capital gains tax cut in history, committed to balancing the budget. the president has the same thing going for him. he has communicated he's a man of strength, he's a man of determination, he is committed to protecting americans and i
think every day this goes on, the democrats are in danger of looking like a party that doesn't care about american lives, doesn't care about american families, and is frankly the party of illegal immigration rather than protecting americans. dagen: i want to get your reaction to senator kamala harris who dismissed the border wall fight when she was on the late show with stephen colbert. >> we have hundreds of thousands of americans who are not going to get paid and they're not getting paid because the president of the united states has a vanity project he doesn't want to give up. it's outrageous. it is irresponsible. dagen: vanity project, mr. speaker. >> look, kamala harris represents what i think of as california crazy. california's a state and the governor in california just said we're not only going to be a sanctuary state, we're going to have he free healthcare for everybody and the new governor said and i specifically mean
illegal immigrants. so he's sending a signal to the entire planet, if you can get to california, we'll take care of your health problems for free. that is the kind of policies -- the former mayor of san francisco, a city which now has people in hazmat suits pay $200,000 a year to walk around and pick up human feces off the street because there are so many homeless people in san francisco which is by the way the largest center of capital in the world in the last 2 a 5 or 30 -- 25 or 30 years. you have a state which is nuts. you have a senator who has no clue and you have a governor who is saying basically i'd like to have open borders, be a sanctuary state and everybody who gets here, i will give them a taxpayers cost free healthcare which of course will he destroy the california health system. i think there's a certain amount of craziness going on in california and kamala harris is part of it. dagen: i'm putting you down as no, you're not moving to california. >> i love california as a state.
i just think its politicians have gone crazy. the state's wonderful. dagen: the people are lovely. the state is beautiful. but it's a whole lot of yeah you. >crazy.mr. speaker, thank you s. newt gingrich, great insight. president trump's tweet on the wall, often said during rallies that mexico will pay for the wall. we signed a great new trade deal with mexico. it is billions of dollars a year. better than the very bad nafta deal which it replaces. the difference pays for the wall many times over. there's an issue there, though. that has to get ratified by congress. nancy pelosi, now the new speaker, has to take it up. will she just put it in her drawer and say bye-bye? it's another worry for the markets that we haven't talked about but we will as the show moves on. coming up, apple rolling out new gear, the tech giant unveiling three new iphone models this year despite slumping sales,
that story, plus parents of young children know this song well, baby shark, it swims into the history books. ♪ when the daylight has to go, but tonight i'm going to hold you so close. ♪ in the daylight we'll be on our own. ♪ tonight i need to hold you so close. ♪ shing deductible, you can earn $100 off your deductible for every year of safe driving? sing that. ♪ vanishing deductible, you can... ♪ ♪ earn $100... ♪ earn $100 off... ♪ off your deductible. ♪ deductible. ♪ for every year of safe driving. ♪ ♪ for every-- for every-- ♪ ♪ for every year of safe driving. ♪ what are you-- what key are you in? "e." no, no, go to "g." "g" will be too high. not for me. ♪ vanishing deductible. oh, gosh. sweet, sweet.
dagen: u.s. troops have begun with drawing from syria. cheryl casone has details. hey, cheryl. cheryl: hey, dagen. u.s. defense official has confirmed to fox news the troops are being withdrawn on president trump's orders to pull out of the country. military officials aren't sharing an exact time line or locations of the troops of course for their safety. the full withdrawal that president trump is calling for overall may be a bit delayed. u.s. national security advisor john bolton said earlier this week that troops won't be pulled out until isis is completely
defeated and kurdish fighters are guaranteed protection from turkey. well, more trouble for huawei. the wall street journal says an executive for the chinese telecom company has been arrested in poland and charged with espionage. the suspect is huawei's local sales director who is a chinese national. the former deputy head of he poland's i.t. security department is also in custody. this comes amid concerns by the u.s. and other western governments that beijing is using huawei, the company, to spy on those countries. well, apple reportedly is planning to introduce three new lcd iphones this fall, despite the struggling 10r sales. and yes, i said iphones. the wall street journal is reporting apple will unveil new camera features including a triple rear camera for the highest end model. they are sticking with lcd this year. they're considering dropping the
lcd models next year. dan niles was on "mornings with maria" earlier this week. he said apple is focusing on the wrong products. maria: 5g is a big deal. if 5g is on the horizon and i want to get the latest, greatest on the phone, but an iphone is not compatible to 5g, why would i buy an iphone? >> that's a good point. 5g will start rolling out in the june quarter. apple doesn't have a 5g phone out. you're trying to convince somebody to spend $1,000, does it have 5g, no. they'll wait. this year could be worse than last year in terms of how much the smartphone market shrinks. apple not having 5g is an even bigger problem. cheryl: let's take a look at shares of apple in the premarket, unchanged right now. you also led great discussions this week on apple, in particular, how many $1,000 phones do consumers need.
dagen: exactly. apple is upping the amount of money you get on a trade-in, trying to get people to -- to get people into the phones. i want to get your reaction to something. it's not just apple. we're going to talk about it later in the show. macy's stock had its worst one day performance ever i think yesterday on weak sales. that was hard on the markets, hard on that sector, for sure. >> for sure. i think what surprised me the most is the conversation yesterday was about the consumer being dead. not about what was really plaguing retail at the end of the third quarter earnings was what about trade and how is that going to impact the cost of goods and things, apparel and things they're selling. i think this is going to be a very good holiday sales season, like the mastercard numbers you got as well as some of the other data we're seeing in retail sales is going to show that there are winners and losers within the rel tail space. i think -- retail space. i think amazon and walmart will
be big winners. dagen: l brands was down 5% yesterday, this is a front page story in the wall street journal. women are not buying that garbage that is some standard of beauty that is not related to anybody's life anymore. they keep pushing ahead with this thing from the early '90s. >> you've got be innovative, you've got to be doing e-commerce right. that's where you're going to win. dagen: thank you so much. i will get your response to speaker gingrich. i want to he know -- >> i'm going to wait until we have him back on. dagen: well, you can't -- well, no. i'm going to make you talk about it. coming up, markets on a winning streak, we're looking at stocks and how the government shutdown is impacting the ipo market in the new year. and social media's impact, one study finding heavy facebook use could be impairing your decision making. details ahead. ♪ it's like one, two, three,
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dagen: the government shutdown now tied for the longest in the nation's history. tomorrow it will be the longest if it lasts. and it could delay ipos in p 2019 in the new year. joining us now, pwc partner, head of financial services neil dart. great of you to be here. what's the impact right now? >> right now it's very difficult to get an ipo out in the marketplace because you need a regulator to sign off on the document. there is no regulator at the moment. other than emergency things. so what we're seeing is december had a lot of volatility in the marketplace. so it was very slow from an ipo standpoint. now, we're not going to he see
many things, basically what happens in january is if you don't get ipos out immediately, then folks will wait for year-end earnings. dagen: so isn't this is a blessing for these companies, though, in some way? because it gives them cover. kathleen smith, who researches ipos, was on this program and she thought the market was so rotten at the end of the year that it could be closed for ipos at least in the first quarter so it gives them a little bit of cover to take some time and wait for the market to recover. do you agree with that? >> i think 2018 was a very good year for ipos. there was 215 ipos. usually anything over 200 we believe is a strong year. so we had that momentum. you're right, things did slow down at the back end of the year. volatility is usually a very big pain point. dagen: she was really talking about the performance in the second half of the year, the companies that did go public. >> we did see that. we did see a drop in relation to
the ipos that went out at the beginning of the year, traded up versus the one that's came out at the back end. >> i think what you said, volatility is the key point. we have volatility with the government shutdown, with geopolitical risk, with trade, with tax 1.0 versus 2.0, with fiscal, with fed. and a company, we can live on good and/or bad news. what we struggle with is when we have no idea what the future may be, which is why the government shutdown, the idea we have regulators not able to work, we have the fda not able to work, this impacts all companies, whether going into earnings season or ipo season or retail sales. are we going to get the right numbers. what do you tell your customers how to deal with this whole volatile situation. >> there's certain things you can control, certain things you can't. what we see from an ipo to be strong in the marketplace, good management, strong growth, strong cash flows, that's what they can control from a story
stand. the other stuff, you have to be ready and one of the things that we preach as we help our clients think through this stuff is you've to be ready -- an ipo is a nine to 12 month process to get ready. you never know what will happen in a marketplace and when you can dip in in a favorable moment. >> on ipos, 81% -- i saw a stat from the university of florida-this year were unprofitable companies. that rivals 2000 when we were in the dot-com bubble. what does that signal about where we are in the cycle of ipos or maybe even in the business cycle. >> we've seen -- ipos come in a lot of different flavors. you have cash stable companies, a lot of the sponsor backed companies are cash stable companies. we have seen a big uptick in relation to get and pharma, life sciences ipos. those companies will have that type of profile, strong revenue
growth, but potentially loss-making type of companies. dagen: at least it doesn't smack of the same type of companies that were going public back in 2000, companies that just seemed really ridiculous that barely had a business plan. i don't think that -- at least i don't get the same sensation. >> there's a lot more diligence in relation to what the investors are asking for, what companies are being asked on the road shows, the level of diligence feels different, agree. dagen: good to see you. i lived through -- thank god i lived through there. neil dart, good to see you. taking on big technology, our next guest says that customers and congress need to stand up to some of the biggest companies in the world. plus, baby shark attack. ♪ baby shark. dagen: the youtube children's song, a historical success. the story has parents everywhere bopping and shaking their heads. we make steve forbes sing it, comcoming up.
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dagen: welcome back. i'm dagen mcdowell, in more pho. it'maria bartiromo.it's friday,. the shutdown showdown enters day 21. now tied for the longest in u.s. history. president trump considering declaring a national emergency and using disaster aid to fund the border wall. futures are heading lower this morning, ever so slight. tough to make the connection between the shutdown and the markets at this point because we've had a great run. we've got a 20 point loss on the dow futures right now. the major markets gauges gained half of 1% yesterday and they're on track for the longest winning streak since early october, before the massive selloff at the end of the year. in europe we have selling to report in england, p france and
germany, although slight, losses of half of 1% at the moment. all four markets in asia finished higher overnight. fiat chrysler warning of a potentially dangerous flaw impacting 1.6 million vehicles but there's an even bigger issue. we have the details. then addicted to facebook, we'll tell you about new research that says using the social media app could be as bad as a cocaine addiction. and shark attack, the hit song baby shark making history. to our top story this half hour, taking on technology. companies like facebook and google are bigger than ever. in fact, the number of facebook users now exceeds the populations of china, the united states and brazil combined. google oversees 90% of all online searches. between those two companies, they control roughly two-thirds of all advertising online. my next guest says more those be
done to rein thee companies in. she has an op ed in the san francisco chronicle, consumers, congress, stand up to tech giants, saying this. when a small cadre of companies begins to operate as retailers, news aggregators, advertising platforms and information keepers they don't just rise to the top of the marketplace, they become the marketplace. walling off competition in a way that threatens the very idea of consumer choice. joining me now, consumer reports president and ceo, motoo tiyeta. good to see you this morning. what do you mean by this op ed? what should consumers do? what should congress do? >> think about it. our founders were great believers in the free market and competition but the thing about free market, you also need free choice. how do consumers have free choice when they don't have knowledge or transparency about what's in the marketplace? so we need transparency. we need accountability. we also need some changes.
the physics of this new reality are very different. so we don't really have the rules and regulations in place to even think and contemplate how to hold these companies accountable. dagen: when you say rules and regulations, though, steve's neck turns bright red. steve, what do you have to say to the head tore y'all? >> in terms of regulations, i think you're going to get national regulations if only because states are starting to do crazy things. you don't want to vulcan -- want a vulcanized market. i think you will get something national. in terms of getting information out there, it's as open as it's ever been before. what i want to ask you is, we said the same thing about ibm, said the same thing about microsoft, said the same thing about walmart, amazon, now we say about amazon. aren't there things that will upend these people like 5g or new technologies that are going to undo them like they've always
done before? >> here's the difference. i think yes, we have seen behavior like this before. we haven't quite seen so few companies like big tech that are controlling so much. as i said in the op ed, they're not just tech companies. they are ad platforms. they are retailers. they are controlling our experience. so the dynamic, it's not just what we've seen before. the physics of this are entirely different. it's too few of them and not enough transparency for consumers to make decisions. >> do you think block chain technology, have you look at that as a way of getting privacy back. >> people are talking about block chain technology, bitcoin. those things are thought about, talked about, they're not a reality for everyday consumers. dagen: what about personal choice? i know you want to get in here. the if consumers turn their backs on some of these companies in a way, it's different if you talk about the way that ads are served online. that's tougher. but in terms of facebook, people could just stop using the
platform and really pull back and maybe that would give rise to alternatives who would be -- with companies that would be more transparent. that just seems like a really long road ahead. >> i think you're seeing that already, particularly with young audiences turning away from facebook. the choices are not there and the information they need, these companies are not being transparent about the information they're using. consumers are really being victimized by incredible technologies that are he delighting us but they're also limiting our choice in terms of pricing, in terms of the whole experience that we have in our daily lives. >> it's a bit of a double edged sword. i love what you wrote. but we applaud the shared services economy because it makes it, one, morph efficient t fous all. pricing has gone down, not up. in a consumer driven country
like ours which is 73% consumer driven, that's a good thing. >> yes. >> on the flip side, i agree with you on the regulation side. because isn't facebook and these companies, shouldn't they be regulated no different than the wall street journal and fox because really they dominate advertising, they dominate eyeballs. i think that's what you're saying, that there has to be a level playing field for what i would say is the more mature companies or the older school companies that are innovating maybe at the same pace, but they don't yet have a monday on. dagen: congress could remove the liability waiver that these social media companies have. they have a liability waiver for user generated content because they say they're not media companies. that is something that congress could do. go ahead. >> let me get to something you said, robert, that is about price and quality. we're seeing great stuff there. what we're not seeing -- we're seeing price and quality. but what about privacy and security? i don't think that things on the books today even come close to
addressing that. >> that's why i'm a supporter of block chain protocol. i think it's going to proliferate a lot faster than the market -- >> we're anxious to see that. in the meantime, what are the standards by which consumers can go into the marketplace and make choices about products with privacy and security. there aren't. that's caused us to innovate as well. what we're doing is we have developed a whole series of tests and protocols so that consumers can actually make a choice about which payment app is going to be the safest for them. that's exactly what we did. and guess what, as soon as we started testing and creating these standards, companies started competing against them and saying we want to be number one, we want the best smart tv that protects privacy. there are ways to incentiveize. it's not all regulation. dagen: the problem you touch on, there's all the power in a few hands. you talk about millennials leaving facebook. well, they're using instagram which facebook owns. i never understood why that was allowed to happen.
again, these nerd robber barons who are controlling our information and tracking everything we do. >> what all these companies are really excelling at in addition to delighting us are being consumer trust busters. consumer trust is at an all-time low. dagen: great to see you. tayoto, did i say that right? >> you did indeed. dagen: that was important to me. here's the highlight reel from this week. must see moments from the show. >> the president doesn't want a government shutdown. he wants the government to e he also wants it to do its i don't know. >> the shutdown is not good. my biggest complaint is that america has been unable to do a lot of things that need to be done. if your one of those folks out there, jp morgan chase client, we're going to help you. we're going to give you help deferring payments. maria: how long can the credit markets stay this tight before you see it as a worry sign? >> for a while.
i'm not worried about it. i think you are just having -- look at it the other way around. credit spreads were abnormally low for a long time. this is more maybe a little bit of a normalization. you and i both know that the tip of the spear is ipos and high yield. so when people -- when sentiment changes dramatically those are the first two areas where people cut back and open up over time. >> in 12 months we've gone from the hope of synchronized pick up in global growth with everybody doing better to divergence with the u.s. outpacing europe and china and now we are worried about the wrong type of convergence. we're worried about the u.s. slowing to the rest of the world instead of the rest of the world picking up towards us. it is for the fed to realize it can't be on auto pilot. it those be more sensitive to what's happening not just in the u.s. economy, but also what's happening globally. >> not sure apple realizes the real issue is they're trying to
sell a ferrari in the market that can afford a ford. they went from the second largest vendor of phones in the world, huawei passed them to become the second largest. >> we want to work with both parties to ensure that patients can have meaningful access to drugs and affordability is a real problem. the question is, how do we solve the affordability problem for today's patients. we've shown already that key hey truda in combination can significantly reduce the amount of deaths. with respect to newly diagnosed people with the most common form of lung cancer, we're able to reduce the death rate by 51%. there's never been anything like that. >> started amazon during their marriage, dollar for dollar it was amassed during the marriage, right down the middle, 50% generally would go to the spouse. anything that he comes out with a statement that can impact the shares of stock and the value of it can result in a shareholder
derivative. maria: harley davidson revealing a new motorcycle later this year. >> as we think about electric vehicles they're becoming more mainstream but two-wheel mobility is relatively new trend and we're setting out to lead the electrification of motorcycles. this is part of the plan we launched last year, which was around broader access to the brands, opening up new markets, new channels.
dagen: president trump continues to tweet this morning. h1b holders in the united states can rest assured that changes are soon coming which will bring both simplicity and certainity to your stay including a he potential path to citizenship. we want to encourage talented and highly skilled people to pursue career options in the u.s. that's a biggy. >> that melee th may lay the r resolving the crisis. the visas have been severely restricted. you throw that out there, along with daca, you've got a deal. dagen: steve drops the mic. fiat chrysler issuing a major recall. cheryl casone has the details you need to know. cheryl: fiat chrysler recalling more than 1.6 million vehicles worldwide to replace takata air bags. the air bags can explode with
too much force and send shrapnel flying. the affected models include the jeep wrangler and the 201 ram pickup, this is the third recall for the air bags this week alone. it's been in the news for years over air bag troubles. chrysler stock down 28% from one year ago. a new study finding that heavy facebook users make impaired decisions similar to drug addiction. 70 participants were tested with an exercise used to measure decision making. based on the people who admitted being excessive facebook users did worse on the test than those who didn't use facebook as often. shares of facebook are lower in the premarket, down more than half a percent. and then finally, parents of young children, you should be so excited because the song baby shark has become a smash hit
with little kids and now it's on this week's billboard hot 100. ♪ baby shark doo da doo ti doo. ♪ baby shark doo da doo ti doo. ♪ baby shark doo da doo ti doo. ♪ baby shark. cheryl: this music video racked up more than 2.1 billion views on youtube. the song has been around since 2015. it got popular last week -- last year, when a social media challenge asked listeners to record themselves doing this is the baby shark dance, so yes, if you have young kids at home, you thought frozen was bad, get ready for baby shark. ♪ baby shark doo da doo ti doo. dagen: steve's doing it. i'm going to be doing that all day long. >> we've got two young grandchildren, three and-a-half and one and-a-half, the only way they eat food is you have that device in front of them playing baby shark. we sing along with them. they eat the food. it's great. [ laughter ] dagen: helpful hint from
grandfather steve forbes. >> markets, parenting, babies. dagen: we're going to address everyone's needs. coming up, healthy food for man's best friend. we talk to one company that wants your dog eating as well as you, next. ♪ you ain't nothing but a hound dog. ♪ crying all the time. ♪ you ain't nothing but a hound dog. ♪ crying all the time. ♪ well, you ain't never caught a rabbit and you ain't no friend roof mine. ♪ [friend] i've never seen that before. ♪ ♪ i have... ♪
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delivered to your door. joining me now, brett padalski and jonathan ragan. brett, to you first, i'm going to hold up this delicious bowl of it looks like tuna and corn, broccoli and squas h and carrot. it's for your dog. >> it's actually turkey. dagen: turkey. it looks delicious. how did you come up with the idea for the company? >> it all started with my dog, jada. she was sick for the first two years i had her. i was desperate to find a solution for her. after trying every pet food and going to several vets, a vet recommended i try home cooking and it was like magic and all of her symptoms disappeared. it made me wonder what was going on with pet food. the vet recommended the same ingredients as was on the pet food label. when i cooked it, the result was
different. it looked like actual food. her stomach symptoms were cured. so i wanted something better for her. after doing a lot of research into the pet industry and for anybody that has done any research into how they make pet food, it's pretty alarming. i wanted something better for letter. after realizing there was no companies out there that i felt comfortable feeding her, we decided to build the company. dagen: how did you build the company? how are you getting the message out to consumers who might order their dog food from amazon? >> at first, we really didn't focus on marketing. it was really difficult and complicated to create the supply chain needed. also, the technology to create a subscription to have food look like this. remember, this food in particular, it's not meant to look pretty. it's not meant to look fancy. it's just fresh food. dagen: it does look fresh. it does look fresh. >> it is fresh. so to do that in an affordable way and also to make the food very convenient to feed, that was where the difficulty was. we really didn't focus on
marketing for the first three years or so. it really grew by word of mouth. dagen: brett, how is the dog food sold essentially? do you advertise on pod casts? direct to consumer? are you in stores at all? >> we're just starting to now -- it's online only and it's direct to consumer. direct to cons her is the only way that -- consumer is the only way we could keep the food fresh and convenient. you go online, you enter your dog's information. we take all of that into account. we create a custom plan for them and then that feeds back into our very complicated supply chain that can deliver the food fresh. so food actually comes in this package, right, so it's personalized for your dog. dagen: hand it to me. >> sure. dagen: thanks. >> it's preportioned for your dog. your dog's name will be on it. thank you. that's mainly so we know how much you have at any given time. before you run out, our kitchens are making food. >> starbucks for dogs. dagen: exactly. >> bring your dog and get high
end food at starbucks. >> dogs should be allowed at any cafe. dagen: i agree. you're welcome back on that note, please come back both of you. we'll be right back, everybody. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. and it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes, or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have symptoms of a serious allergic reaction, a lump or swelling in your neck, or severe stomach pain.
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dagen: good morning, everyone. i am dagen mcdowell in for maria bartiromo. friday january 11 top stories 8:00 a.m. eastern, day 2 shutdown showdown tying for the longest in u.s. history president trump considering declaring a national emergency disaster aid to fund the border wall. >> we are going to get this straightened out the hopefully, hopefully democrats are going to come to their senses realize they don't want people killed, they don't want crime they want to end it, and that is going to happen. dagen: shutdown showdown debate coming up, meantime futures heading legislator this morning losses across the board 43-point loss on the dow futures, the major market engages added up half of 1%
yesterday they are on longest winning streak since early october. >> in europe we have selling to report, losses in england, france, germany different story asia overnight four major markets there modifying to the plus side oil also heading higher this morning, the price of crude on longest upward swing, since january of 200. plus miracle in wisconsin, missing 13-year-old jayme closs has been found alive. kidnapped after her parents were murdered last october. details of her remarkable rescue. and retail rout macy's among retailers hit yesterday suffering worst one-day loss on record. on 18% yesterday kohl's lrands home of victory victories target also hit why are stocks suffering? with the economy so so will destinied here to break it down cfr investment strategist lindsey bell ford media
chairman former republican presidential candidate steve forbes, 32 advisories fourn ceo former economic advisory to president obama robert wolf good morning one and all awesome to have you here two hours i have got you one more. >> a greet day, and, lot to cover one of the things keep an eye on, china trade talks. if they work you are going to see this economy really take off. and i think, both sides now want a deal for their own reasons. dagen: particularly with china's economy in the -- it is suffering as much as it is on -- >> not only will economy take off markets will take off too, so we are getting a little bit of dide jestion in china see how that impacts companies here. >> i am bullish, i mean i know a lot of economists starting to talk about recession, i don't see it, but you know.
>> -- talked about -- >> they are right half the time so --. [laughter] >> i view shutdown as starting to be bad thing for the country, the economy, i think if you hear people talk about being impacted, this is not a three-day shutdown. we are going to the third week this is really impacting you know the individual, and time to open. >> we have a democrat in congress coming up, so i think you will agree with you but we want to get to blake burman, at the white house, day 21 partial government shutdown now laughing matter we are tied to longest shutdown in history, one day after president trump's visit to mexican brrred blake burman plooif at the white house with the very latest. reporter: good morning to you it is a complete stalemate here in washington, d.c., at least politically as relates to this shutdown, so with that president trump took his message down to the southern border yesterday meeting with federal law enforcement going
to rio grande the border down mckalen texas while it would face immediate legal challenge president said yesterday he believes he has absolute right to get wall funding by tlairg national emergency fox told the white house has directed army corps of engineers to see if it could divert money tapped for defendant relief funding last year the president says he still wants to strike deal with congress, but if he can't, the declaration would come next. >> now, if for any reason we continue get this going they are not going to act responsibly don't mind deaths crimes all problems they caused by not having have barrier, then you will see what happens, with national emergency which i can do easily no question it holdings up. >> today payday for most of the federal government with that, roughly 800,000 federal workers impacted by this partial government shutdown will not be receiving their bye weekly paychecks today
factor in spouses, children, and this ripple through to millions of people all across this country, democrats reporting finger at president saying he should support spending bills that would reopen that part of the government shut down, continuing the border security negotiations. >> the president is treating these hardworking americans as nothing short of leverage. pawns in his bill gambit tostract five billion dollars from american taxpayers to fund a border wall that he promised mexico would pay for. >> dagen president trump also announced yesterday he will not be going to davos switzerland end of the month for world economic forum though likely a much smaller team from the administration in some form or another will be heading over tlo dagen. dagen: thank you for that reporting blake burman at the white house. joining us texas congressman hos appropriations committee member henry, cramming gre--
great to see you what do you see as potential compromise to open government. >> first of all, let's look at the on the. if we want about to stop drugs look at latest dea report most drugs will come through ports of entry we got to start putting technology personnel, x-ray machines because that is where most drugs will come in. if you want to look at the people that -- 33% of them are illegal crossings, 67% of them visa overstays, so we got to look at what the objectives, let me tell you about the border i am at the border if you look at latest fbi statistics, mckalen part of my area, had 4.8 murders to 100,000 washington, d.c., 16.7 so it is almost four times more washington in washington, d.c., when you look at those crime stats. dagen: do you have but you have a but you actually do
have border barrier wall fencing in along that portion of the border don't you? >> yeah, i know. >> that is kind of the point. >> let me -- let me make the point, back in 2008, president bush said that he want 700 miles so right now we got 654 miles, in that particular area, we didn't like that fence what senator cornyn and myself we sat down came up with a compromise call and levy wall helped flooding helps on security, there are ways we can compromise infrastructure, the problem is we don't give plol border patrol chiefs sit down with local communities work out, what sort of security we can provide, it cannot be washington driven, those folks down there at border know better than washington bureaucrats. >> robert wolf here fellow democrat you are welcome to ask a question is laying out when people would get behind
but all ideas, that are part of would be part of a broader compromise. >> interesting texas representative thornberry, texas representative hurd yourself all saw they don't believe wall the right way actually most of texas, the congressmen that cover most of texas i don't want to get into just wall debate i want to get into you are in appropriations have you seen -- from the white house, where they want to spend 5.6 billion? because what i have been told is that the appropriations committee in the senate nor the house has actually seen a plan on how they want to appropriate. >> absolutely, i saw the omb letter sent off last week end negotiating, with all due respect that is not the way we do appropriations, now today i will be releasing about 3 or 4 pages of specific
recommendations for border patrol for cbp officers ice immigration judges coast goordz so we can secure border we cannot play defense in one-yard line called u.s. mexico border we got to extended our defense our perimeters, and put money to work with mks southern border with guatemala people working with central american countries this capital we spend 18 billion dollars border security on u.s. mexico border 18 billion, about three years ago shifted over 80 million dollars to help mexico secure the southern border did you know with 80 million dollars stopping 220,000 individuals that were coming over to u.s.. 220. . what do we get last year? there were 396,000 illegal crossings, and in 2000 we had 1.6 million crossing so numbers have gone down, we got
to learn who play defense better than on one-yard line. >> congressman, the -- nobody disputes the problems overstate visas and the like, but some will say parts of the border the wall walls make sense, worked in california and few other places. what is the hang-up on using the wall. >> there are -- and i will be straight are forward there are some areas where you can step one foot over here on u.s. side and one on mexican side we pretty much have walled that up fenced that up, arizona new mexico california then texas -- >> wall are immoral according to your leader. >> let me finish let me finish let me finish. so we got 1200 miles out of 1954 miles, if you ever been to we see texas you got biggest cliffs that are better than -- than walls that president trump wants to talk about if you look at the
river, keep in mind can when they put a wall or fence they don't put it at the riverbank, they actually go sometimes one mile inside so if you believe in private property rights i know you all do, why are we giving up one mile of territory over there? and if somebody wants to claim asylum all they have to do is get the to the bank, and fence one mile away they are in u.s. can claim asylum credible fears we got to be smarter how we secure i will get you three, four pages you will see very detailed in fact seven billion dollars, more than the 5.6 billion dollars the president wants. >> congressman, in terms of a compromise though because government is shut down, we are nearing the longest shutdown more than u.s. history why don't democrats put something on the table, even outside of border security in terms of immigration like protection for the dreamers, why doesn't did leadership put that on the table and say, if you give us
this, and not temporary but let's just talk about a path to citizenship but that on the table open the door to negotiations, why isn't that happening in. >> because we have done it over and over and over again. last year we tried to you discharge dream act had a lot of border security tea party folks basically said no the tea party folks said no to dreamers you saw what happened on senate negotiations with senator graham trying very hard to negotiate, bottom line is, it is you know to mix both have been very difficult, i want to see strong -- >> you still i know but you still stand for the dreamers don't up? you still stand for trying to give protection because the protection in a president obama gave them, that was essentially temporary rescinded, it is ladder in front of the supreme court today you could wrap this up come up with a compromise that net side is willing to do that. >> let me ask you, if president trump willing to do
that steven miller willing to advise him to do that? are at the republican tea party willing to do that there are so many folks on the other side refuse to do that now there are people like will hurd john cornyn other folks willing to compromise, we need to get the the people in the middle i am talking about, democrats and republicans, let's come up with something. dagen: if you won't put you the on the table we will never know. >> okay. it is on the i believe at a, let's see what happens. see if any republicans will take it, will take and say we will be willing i have not heard one republican say that. now, will hurd senator cornyn other folks have been very, very good about it notice those are the people that representative the border, everything single member of congress on border democrat republican don't support wall we want a strong border security but we want to have, fair immigration also. >> you need to pick up that red phone that direct line to nancy pelosi, and tell her what you just said. good to see you.
thank you so much. >> thank you so much. >> congressman henry, coming up remarkable rescue wisconsin taken jayme closs found alive, she was kidnapped following murder of her parents three months ago the startling details, plus retail rout booming retail sector sfrg from holiday blues that is ahead. ♪ ♪ after months of wearing only a tiger costume, we're finally going on the trip i've been promising. because with expedia, i saved when i added a hotel to our flight. ♪ so even when she outgrows her costume, we'll never outgrow the memory of our adventure together. unlock savings when you add select hotels
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what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work. i california female police officer shot and killed cheryl casone has tales. cheryl: second time this week i am reporting a story like this dagen police in northern california say 22-year-old officer natalie corona has fatally shot after responding to traffic accident, she only had been on the yob a few
weeks, her colleagues in mourning. >> i have heard her described by officers tonight as the daughter, and our friend, and just the sister that we all wanted. and this is just an absolutely devastating loss to the police department. cheryl: police say a suspect later died of aing stefl inflicked gunshot wound at least three officers shot and killed so far this year, 13-year-old jayme closs found alive, after being missing since october following the murder of her parents. suspect has been taken into custody following tip phoned to police, a woman walking her dog in gordon, wisconsin that is about 70 miles from where she was kidnapped. reunited with family last night authorities are holding a news conference today, at 11:00 a.m. eastern to share
details of her rescue luckily she is okay. >> former nissan chairman carlos ghosn indicted on two additional charges financial misconduct overnight charging with aggravated breach of trust under stating pay 40 million. this brings number of charges against him to three goes onnen had been charged for under reporting earnings by 46 million, has been in detention sfler in tokyo since arrested in november ghosn says he is innocent,nearly 300 guests crew members on one of the world's biggest cruise ships with neurovirus outbreak sailed towards jamaica royal caribbean oasis of seas cut short seven-day trip returning to florida tomorrow a day earlier crew members after officials put it on lockdown, giving a full erupted for fares shares down 16% last
year we have done so many stories dagen i don't think i want a cruise ever. dagen: even though government shutdown cdc tracks outbreaks on ships you can go and look and see which ships have the biggest problems, so yeah, i have never taken a cruise, and probably won't may have to never taken a cruise we -- >> commercial. >> that is right you do, you know i have been on the old forbes yacht before you sold it didn't you -- >> we did we treated you very nicely. >> you did i was on that boat september 10, 2001 on deck looking up at twin towers i will never forfeit lot of people took purchases of the tin thank you nerz background. >> a hit from weak hollywood sales not the all of them, but whoa. macy's taking a hit yesterday more on that ahead, plus at&t
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dagen: at&t backlash a call for federal investigation, over its data sharing practices. gerri willis on the floor of the new york stock exchange with more good morning. >> good morning dagen that is right at&t poised to open lower, legislator in premarket trading they are saying they will stop selling customer location data after a report information wound up in wrong hands, remember, not too long ago verizon got in trouble some of this data, was sold to locations aggregators, used by
prison officials to spy on innocent americans companies said before they would stop selling calls to do same thing on tuesday, t-mobile said it would also stop selling this data. we have to wait and see, macy's tough day yesterday, as it went from retail boom to post holiday gloom, stock off 18% biggers sell-off for that stock probably in history most likely we also saw reports there was biggest sell-off in 10 years, why in because sales were down for december. started strong finished weak, that took the whole sector down, other stocks in group that had good sales results target costco sold off yesterday, too, and we're seeing macy's down absolutely this morning, as well. that is yesterday's stock price. dagen back to you. dagen: thank you so much gerri gerri willis new york stock exchange. >> shut down day 21 officially
ties longest u.s. history president weighs weighing a national emergency town leash funds power of fed outlook for new year as chairman jay powell of the federal reserve signals may be i am patient in interest rate hikes jon hilsenrath state ahead ♪ got down on my knees ♪ and snoring? how smart is that? smarter sleep. to help you lose your dad bod, train for that marathon, and wake up with the patience of a saint. sleep number is ranked #1 in customer satisfaction with mattresses by j. d. power. and now, save up to $500 on select sleep number 360 smart beds. only for a limited time.
dagen: welcome back. i'm dagen mcdowell in for maria bartiromo. friday, january 11 top stories 8:30 a.m. eastern, we are about 30 seconds away from a key update on inflation, the consumer price index for the month of december, the estimate is for at drop of 1/0 of a percent men and women over month a gain of 1.9% year-over-year we bring those when we get them futures
heading lower ahead of reefs down all morning a 65 point loss, on the dow futures tame inflation would certainly reiterate the kind of easing of worries about the federal reserve, in europe we have losses across the board. as well. in england france germany different story in asia overnight gains across the board there. top story, the federal reserve in focus, fed chief jay powell speaking in washington yesterday easing concerns over future interest rate hikes. we have -- let's look at what the consumer price index is doing right now, can we put the numbers on the board for cpi month over men and women does anybody want to tell me what it this is my ear since we don't have it on the banner yet? so -- down .1%, month over month, and then -- 1.9% gain year-over-year very tame
inflation jon hilsenrath, he joins us now "the wall street journal" global economics editor gives federal reserve kind of explains somewhat the reasons for the -- pause if you will, saw we are going to as you said last friday mr. hillsborough, we are going to -- don't worry about the jobs' report last week the fed is going to be looking at all data for january, and february. >> rite jay powell talking about this yesterday at washington economic club because inflation is turning out to be autumner than fed expected the fed feemz it can be patient looks like it's going to be skipping definitely skibl january rate increase looks like could skip a march rate increase not do anything until middle of the year at earliette you've got producers whispering in area about numbers headlined he number down i would love to know core number inflation
excluding food and excluding energy if fame sign to the fed can hold off on more rate increases. >> jon lindsey bell here, so as you mentioned, the fed has walked back in the last couple weeks, they talked about their ability to be patient and flexible in this praying environment given market volatility lower inflation what are your options as you think about 2019 as far as rate hikes? because if you look at economists most of them are expecting one to two the fed projected two you look at the cme futures market they are expecting zero you even have some people expecting a cut is that a possibility? >> well, i mean a possibility, if economy falls to its knees you know it is interesting futures markets have always been more dovish than fed on increases almost every year we come in, and investors are not expecting the fed to do as much as it does.
i think maybe one of the reasons that the stock market had so much trouble last year is that the fed actually did end up following through, and doing as much on rate front as it expected. this year looks like a different story. it looks like you know two, at the most and if we keep getting tame inflation numbers, you know the fed could hold off altogether. dagen: is there any concern it has been raised looks like jay powell the people at federal reserve caved to is in the just president trump's demands but caved to market caved to -- basically propping up stock market giving them i call it the veer you cana stock market i want it i want it now. >> there is ben bernanke talked about this other day dagen point that you raised, there is idea of a fed putt whatever the market starts selling off fed comes in to rescue, to save the day the keep the market from continuing to fall.
so i think they are a bit conscious of that. powell he had interesting remarks yesterday about -- about donald trump, he was asked whether he would meet the president if the president asked he said well, no fed chair has ever not done that spop we kind he kind of suggested would you go if i have to but i don't really want to. you know in terms of caving to the white house, i think the data have -- i think it is more caving to the market than to white house. and i think the data have also turned in a way that supports this fed pause, because you know the fed says it is going to be data dependent always say that if credible once they say that they have to respond to inflation numbers like today, and inflation numbers today just aren't they are not showing a lot of inflation it is below fed 2% inflation target. >> correspond number thanks to lindsey bell for getting this up 2.2%, so up 2.2% in line
with expectations, at the overall number up 1.9% core pce under 2% recent months. >> pce permanent consumption expenditures price index the commerce department produces and that is that is the target that the fed goes after. looks at the cpi number but main target this is other commerce department indicator one irony right now that because the government is shut down, the labor department has funding for several more months the commerce depth doesn't fed as of right now isn't getting a chance to look at you flaifrt inflation indicator until shuts ends. >> steve forbes here the fed believes if phillips curve right there is a trade-off between inflation and unemployment can't let the economy get too prosperous that is bad for inflation?
they still believe that; right? >> you know, it is -- it is interesting steve, because there is all this friction between jerome powell fed chairman and donald trump the president. and on some issues, they are closer together than you would think one of those is this issue of the phillips curve, you know jay powell is not an economist he wasn't trained in all models, that fed staff work in. and you know the models say where unemployment goes down inflation goes up, powell isn't convinced of that, you know. he thinks there might be something to the phillips curve but one of the completely buy it so i wouldn't say that he believes this in phillips curve i think he wants to see what facts on the ground today day's numbers say even though unemployment is very low we are not getting inflation. >> the fed winding down its portfolio, given the fact banks still have massive amounts of competence reserves that in and offis shouldn't hurt lending should it banks have plenty reserves to still
lend; right? >> there is another disconnect here between what the fed is doing what the market believes. the fed has been allowing this portfolio to wind down very gradually, 4 1/2 trillion dollars a couple years ago, it is now around 4.1, so they have wound down 400 billion dollars from p holdings. the fed doesn't think that is having a big effect on the markets. you know. if it was you might see for instance 10-year treasury yields much higher, but they are not they are under 3%. there is this idea in the market that this wubddown the fed is doing the shrinking of holdings is a big issue, and the fed just doesn't believe it. now the president is on the market side on this he thinks it is issue the fed should stop shrinking its balance sleet. >> they did throw markets a bone jay powell definitely through markets a bone friday and really reiterating what he said about portfolio about balance sheet last week he was
-- essentially said these open fed is open to changing balance sheet policy if needed to meet goals jon if looking at a lot of fixed income securities how it was impossible to price some of them late last year. that you have etfs trading at a -- a discount to the stated net asset value seem to suggest people didn't know what securities in bond etfs were worth there are skekz disconnects disruptions worth looking at certainly a lot of drufgs in the market last year to what extent tied to fed, you know shrinking of balance sheet i am not sure, but, you know, you definitely right dagen fed has thrown a bone to the market. but i think there their inclination to the extent want to accommodate the market, they want to do it with the fed funds rate. the interest rate that they control.
and not so much the balance sheet. you if fed becomes convinced the balance sheet really is a problem, for the market maybe they will change course. but not really convinced of that yet. >> what would i say 2019 itself going to be very different than '18 we don't have the tax -- >> how different the market was down last year worst year in a decade. >> i was going to say. >> hey we got 3% growth, so -- >> going to say let me finish my point. you are not going to have tax reform, and you have a complete deleveraging that took place in system into what was nine straight rate hikes now literally markets going to be very driven own hopefully earnings. that is what we want the market to be driven in, not all the other things that happened around us whether it is trade, and tariffs but we like to go back to a normalcy where literally the public policy actions are not driving the market, but the earnings are driving the market i think that will be something that
changes in '19 because truth is nothing is going to really get done politically, we have a the most polar rising congress white house we have seen in years. >> one other thing much different potentially this year, than last year, is fiscal policy budget agreement that is pumping a lot of money on the federal spending front, into the economy, that expires in september. you know. if democrats in the house, and republicans in if senate can't get together, and agree on a spending bill, then there is -- spending stimulus coming from this republican washington spending sur+ goes away. >> are you telling me no longer fiscal hawks this republican party? >> no, no. >> adding two trillion to the deficit since president came
into snoofs obama doubled national debt under president obama doubled what did we get never got growth even at 3%, in any one he calendar year. >> to debate. dagen: it is true to your point jon we got -- >> i thought would i get people riled up by mentioning all spending issue -- >> because you are in washington, we are going to blame it all on you -- >> a lot of spending going on down here, but the other thing i wanted to mention robert you said maybe we should get back to earnings driven market. the comps don't look that great this year the tax cuts have flown through off a higher base on profit fund. >> thank you so much we will get lindsey's input on that jon hilsenrath as always thanks for stirring us up. investors eyeing u.s.-china trade talks impact of shutdown also on american farmers, straight ahead. ♪ ♪ need.
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by some leading flats including presidential candidates, elizabeth warren senator cory booker bernie sanders, beta o'rourke supportive of this deal other leading democrats. what is is they tax individuals on their income, they tax oil and gas companies, they bring in trillions of dollars then redistribute this to create a brand new green infrastructure throughout the land plus a guaranteed minimum wage jump on anybody wants one a grab bag of giveaways here been accepted by this insurgent gruchl democrats i think a big plank in the democrats pain of 2020 pm .d i don't think we should dismiss it just because it totally unaffordable thou generation millennials kind of likes socialism may play very big in 2020 i regret to say. >> yet left waning lie are rich are rich enough to pay
for all programs look at france and rests of europe where they have socialist policies who pays middle class pays, lower income citizens pay, there are social taxes property taxes, there are heavy-duty fuel taxes, there are value-added consumption taxes hidden everybody pays. because you could confiscate every dime of adjusted growth income from 1% in this country would you still be 1.2 trillion dollars short for medicare for all not going to pay for all ideas. >> yes. i think we are in total agreement dagen i really think we are. >> i get mad about this. be honest, but they need to be honest with american people, everybody is going to pay and everybody is going to feel it. >> to beed expect honesty i think quite a lot of support for this a lot of people will get free money from the government in a scheme and it is a scheme they will get free
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. dagen: futures down across the board, about a 7 .loss on 71.loss in red all morning coming off longest winning streak since early october optimism frl chief jay powell essentially said we are going to wait look at data, before any additional interest rate hikes also some progress being made on u.s. and china trades, joining us now advisory managing partner ted oakley can this optimism in the stock market continue? >> i think it will for a few weeks dagen. i don't think it is a long-term thing for '19 i suspect that balance from december 24 last six, eight weeks maybe i think back in the soup again. >> it is lindsey bell here so what keeps up, up at night biggest concerns risks you see facing the market right now? i mean you do have pretty much
the rest of the world starting to slowdown there are sign there is we're seeing economic data in u.s. here come in maybe a little bit softer than on run rate basis what worries you? >> i think what happens is people don't realize the impact that buybacks had on marketplace i think companies will probably be focusing on the balance sheet that impacts the marketplace, in addition i think that we have a bigger risk of recession than everybody thinks, i i mean we think a decent chance that in the last half of the year we have a recession, if that is the case all earnings that are out there now probably they have gone from 12 to 7%, probably too low, too high i mean they will go lower. >> what are the chance again of a recession the "the wall street journal" monthly poll says economists see 25% chance of a recession in the next year what where do you put the
chances? >> well, i don't think bank too much on economists their usually populate only that dagen. dagen: -- i agree with you what are the chances -- of a recession. >> i think the chances are better than 50%. dagen: wow. >> if you look at leading indicators the fed looks at lagging indicators backwards if you look at leading indicators, telling you that hey this thing is probably slower than you think it is. >> what is concerning you specifically? why this is going to -- lead to recession what is unwinding? >> well one of the things steve you are at the end of cycle you have been around a lot of cycles i have too, and this is part of the cycle. you get i was back on show in summer i mentioned when you get to top of profit margins, they are legislator part of cycle the fed comes in, you have nine straight quarters up through really second quarter where we had gdp growing unprecedented, and just part
of the cycle you roll over things start to go the other way. and i think that is where we are now. >> if we get good trail deal with china, wouldn't that lust the huge cloud and investment will start to pick up again? >> business investment capex? i think in the it will for a while when you look at china they are in a declining mode themselves. and so and i know would it help them too degree if we go ahead and dothing with them but i think it will be tough in general worldwide that is the problem we face i think in '19. dagen: thank you ted oakley great to see you as always. >> still ahead impact of the government shutdown on american farmers, that is next. ♪ ♪
land i they don't have access to value public data as they enter the 21st day and speak one-on-one in first on fox business interview monday 7 a.m. right here on mornings with maria steve your reaction to this. robert brought this up that the farmers were hurt by the trade fight farmer are being hurt by the shutdown. >> yes, they are because tariffs are are accident tays and the farmers have been hit hard. that's when you get a deal request china, the top of the list is going to be buying soybeans buying this, buying that and ag felt if they don't take care of the farmers it is over and one of the travesties when republican administration going for subsidies to pay pharmacies 12 billion and that's not what they want just to do this. no soybeans -- okay and in november republicans put on taxes they want to do their business. republicans put on taxes to pay
for the -- for now they have subsidy set to bailout farmers bad stuff. >> steve lindsay robert so great to see you and we were going to talk that jeff bezos divorce we can't even talk about it stuart varney. [laughter] stuart: that's a remarkable segue if ever i saw one. happy friday. [laughter] good morning dagen and good morning everybody. it sure look like the president is close to an emergency declaration to get the wall built and the government reopened. he wept to the border to see the the situation firsthand, he told sean hannity he has the absolute right to declare an emergency and that he probably would if a democrats continue to refuse to negotiate. he may get more money from outside congress. administration may tap into cash that marks hurricane relief in puerto rico on wildlife damage in california. another big migrant caravan is