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tv   Cavuto Coast to Coast  FOX Business  March 5, 2019 12:00pm-2:00pm EST

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this is the blockbuster old style? >> there was one on every corner the '80s. now there is one. stuart: wayne huizenga's deal way back when. he got rid of it. time is up. neil cavuto. it is yours. >> david asman. stuart: i hitchhiked 1200 miles. david: you have to write a book. i'm david asman in welcome to cavuto "coast to coast." i'm no for neil cavuto. the dow up 11% year-to-date. all eyes are on china. as officials are lowering china's growth target, announcing a major tax cut amid growing signs the economy is slowing down.
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"wall street journal" associate editor john bussey what a china slowdown could mean for a trade deal. good to see you, john. >> good to see you. david: still hard to get a specific fix on china because nobody trusts their data, right? >> right. good point to make. slowdown to 5 or 6% it, could be 3% for all you know. you can't trust the data coming out of china. david: there is a slowdown and you can tell trends and the trends is downward. i am wondering how much of that is because of our tariffs? >> maybe a bit. building overcapacity in china as well. this is more of a systemic problem for them. the tariffs probably bit into that to some degree. puts pressure on xi xinping to do something to get out underneath a cloud of the trade battle. there is pressure on the administration to do something about that because the markets are waiting on that. david: pressure on the entire world which is slowing down. the world's shedown, a lot is
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totally independent of china. the china slowdown doesn't help at all, does isn't. >> that's right. where does the trade deal stand? there will be a meeting later this month on both sides. want to have something, that two leaders can say, hey, we reached an agreement. so far it is unclear what is in the trade pact. details will really matter. there will be additional buying of u.s. agricultural goods, lng. that is kind of cosmetic. the president wants to bring down the trade deficit. at the end of the day the sort thing china does with third world countries, buys the products to buy them off, right? that will not do it for the trade hawks in the united states. they expect to see systemic changes. david: they have a new foreign investment law, separate from the trade deal. in a way kind of tied into the trade deal. it opens up the door for foreign investment in china t also allows for foreign companies dealing in china not to have so many chinese communist officials
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plugged into their station in china. so i'm wondering if they're using this investment law to help them with the trade deal? >> the investment law, reduction in tariffs will be on this, opening up of their markets to other types of businesses that have been held back from the auto industry to chemicals and a lot of other industries. again the, the devil is in the details. how are these new quote, unquote openings which china announced plenty of in the past. david: right. >> actually will be implemented, actually will be enforced. will the u.s. have any sort of recourse? are you going to see real changes where china decides not to subsidize it is industries. china decides not to force technology transfer? you don't hear a lot of language about that from china yet. david: as to the first part, it is clear the part of this new move to kind of gin up their economy includes more loans from the government banks to private sector industries. of course a lot of them are tied into the government.
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doesn't look like they will cut back. >> not a good sign and lighthizer, the u.s. trade representative is trying to -- david: tough guy. >> trying timely meant some kind of ip protection, intellectual property protection. is talking a lot about that in these negotiations but we have a front page story today by dustin voltz shows china once again stealing, trying to steal secrets from the united states through cybersecurity through cyber efforts. this time maritime secrets related to the military. david: we have a sigher expert to talk about that later in the hour. the point is the leopard hasn't changed its spots? >> if you want to go into putting a positive step forward you wouldn't do this on the side while supposedly negotiate ip protection for u.s. that will be tough to enforce and essentially violates the china model. the chinese model, heavy state
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subsidyization and stealing of intellectual property at home. david: that is the pillars of their stuff. >> keeping true competition out of their market to build up national champions, international champions, heavily subsidized, supported by the state. david: by the way if we take our tariffs off as part of the trade deal will their economy begin to boom again or are they stuck in a rut? >> i don't think tariffs are doing this i think it is the rut. what xi xinping is being told by liberals within his own party structure you have got to move to a market economy because the state subsidized, state coordinated, state command and control economy won't work in the long term. you have got to foster private industry. tough to do that if you want to stay in power, you're the head of the communist party. david: john bussey good to see you. thank you very much. china stealing our military secrets. do research suggest chinese hackers are targeting more than
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two dozen universities to get access to maritime technology. to sec founder, cybersecurity expert david kennedy. david, do you have any doubt this is being done about it military, the chinese military? >> we don't have a lot of the data to actually support -- since 2016 we had a treaty that set forth we wouldn't see a lot of this intellectual property theft. there is not really much doubt in our minds where it is originating come. we're seeing a huge increase comes to intellectual property theft, government secret theft from the chinese government specifically. >> do we know what they're looking for? >> in this specific case they're developing maritime technology to be used for military
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purposes. china definitely use this is type of cyber theft to go into different organizations or different research facilities to keep up to date with what the united states is doing. we see that commonly from different intelligence organizations including russia, including north korea, including iran. all of these are different ways that we can use cyber capabilities to understand what our adversaries are doing. china definitely does the same thing. they want to understand the technology we're developing to they can stay up to speed with what we're doing with our military as well. david: they want us out of asia. they want us out of all of asia. they want us to be the dominant force in asia, not specifically any part of it. specifically the south china sea, that is the target where they have the islands build up, et cetera? >> that is major contention point between the united states and our allies when it comes to that specific geographical location. when it comes to maritime technology, are we trying to build up to have an advantage in
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those locations? that is something china is interested in and make sure they maintain a big presence in the disputed area. something i could see they want access to that facility. we see that commonly. medical research is a huge research area for them. medical preparedness is huge area for them. they're definitely increasing sophistication and amount of intrusions here in the united states, especially during the trade war battles. david: more a concern about their own defense, it seems they have imperialist foles, if you will, certainly with regard to taiwan, also perhaps with regard to vietnam. vietnam complained many times about their intrusions into their water space and airspace. perhaps even the philippines, part of the south china sea as well. >> that's right. that whole area is in dispute and they're getting more aggressive around land and areas they expand into and regions there. the cyber front, also filed same type of path. we see incursions not just in
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the united states but those occasions as well. not just the united states around intellectual property theft. their government is very much focused on understanding policies, understanding technology. understanding influence within western allies. it is an expansive problem we're dealing with china. now they're looking to implement chinese technology with huawei across our european allies. now we have chinese technology running next generation of backbone internet. there is lot of problems we're seeing from china currently. david: of course, remember they have a lot of problems themselves as we talked about in the previous segment. david kennedy, good to see you. thank you very much. >> you too. david: there may be a another independent running for president. mark cuban leaving the door open to a 2020 run. is the threat of a third party run for real? howard schultz's spokesperson tells us next. don't miss "bulls & bears" 5:00 p.m. eastern time as we debate all the day's headlines and how markets are reacting. we'll see you then.
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and ready for anything. sleep number is ranked #1 in customer satisfaction with mattresses by j. d. power. save $500 on select sleep number 360 smart beds. only for a limited time. david: more billionaires weighing white house runs. mark cuban not ruling out a 2020 run. telling fox news he could still run as third party candidate as howard schultz is facing backlash for doing the same with a lot of democrats. erin, what do you think first of all about mark cuban possibly running? >> we would say the come on in the water is fine. we may have heated it up for him. david: when will you officially announce you are running? as i remember howard hasn't officially thrown his hat in the ring, right? >> you're absolute are right, david. one thing howard wants to do to travel the country, talk to
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americans to see if there is appetite for centrist, third party candidate to run. he believes there is. the research done so far shows likelihood there is but he has to start talking to more americans to the got message across. david: last time, first time, i happened to actually be in a restaurant on the night, i think it was january 28th. that was the same night he spoke in front after crowd where there was a heckler that was just unrelenting against him. and he, i saw him at a restaurant that night, after the heckling. he seemed pretty shaken up. he is confident that he can withstand that kind of constant kibitzing? >> of course. you will always hear a couple of loud hecklers where you go. politicians get it all the time. think back in 2015 and 2016 is when donald trump ran for president, there were hecklers almost all of his events, true. >> he hasn't been a politician,
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that is something he gets used to because he wants to run. david: things time to get used but some people never do. i ask you will he ever will? >> he has been doing a lot of different things around the country and around the world getting to know americans of all stripes and i think he will be absolutely fine if he decides to do it. he is a tough guy. he played football on concrete in brooklyn, when he was growing up. he is is plenty tough enough for this. david: mike bloomberg, he is one person who may run as well. he is reluctant as howard to completely throw his hat in the ring, but his views, correct me if i'm wrong, his views on economic policy sound kind of similar to howard schultz. he is what used to be a moderate democrat. if he runs, what would stop howard from saying, okay, he is going to take the ball and run with it in the democratic party? i will put my support behind
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bloomberg? >> well look, i think mike bloomberg is going to have a difficult time getting through a democratic primary. mike bloomberg is truly an independent, if he had run in 2016 outcome might have been different. i think mike bloomberg might regret that today. david: does that mean there is no room for moderate in the democratic party? >> it is really tough. you mentioned mark cuban at the top of this segment. look, i was with mark cuban and amy klobuchar in austin, texas at end of the december, he was pitching amy klobuchar on fix to health care act and was in her office to make a formalized fix. fixing obamacaring doing it through the center. that is what that says, we need solutions collaborating through the center. i applaud all the moderates, democrats, republicans what have you, it is really hard to get the nomination in one of these
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party if you're not in the extreme. mark cuban what he is saying these parties are ineffect all. third party candidates are where it is at. you have to be able to govern in the center. david: erin, seems like what you're saying he would pull more from the modern democrat side than the modern republican side? >> i don't think that is true at all. talking about howard schultz, he is meeting with lots of republicans everywhere he goes. he talked to secretary gates. he talked to a lot of republicans pulling from all over the perspective. i think it is important to get people with the best ideas and people working together to have a solution. david: i want to ask you one specific question about tax policy. amazon, this is big by alexandria ocasio-cortez, et cetera, amazon didn't pay any money in tax, corporate taxes because of all you know all the deductions they had, et cetera, isn't that a call, i mean in my mind that is, i think she is right calling them out for not paying tax but at the same time isn't that a good reason to call
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for a flat tax, get rid of all the deductions, lower the tax rate a bit, so you get more business but at a flat rate nobody can avoid? >> well, again i think howard schultz is interested in talking to all kinds of people about their own ideas for our tax system but he does believe that we need comprehensive tax reform and he will be putting out a plan later this year, if he does side to run about what that would look like. david: would it include a flat tax? >> i don't know that he is quite there but i, he is willing to listen to steve forbes and others about a flat tax for sure. david: you know where i was coming from. steve forbes is mr. flat tax. erin mcpike. great to see you. >> you too, thank you. david: appreciate it. so is the third party threat a real one for both democrats and republicans? to democrat commentator danielle mcglocklin and gop fund-raiser noelle nikpour. good to see you, ladies. are you worried about a third party run? >> i am a little worried about a
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third party run. you had erin on earlier just a second ago, i will tell you what, there is a pathway for a third party and i think both the right and the left need to be concerned because you know what? trump really embraced the far right. he is going farther and farther to the right, which is fine, totally fine. as you can see the left is adopting the narrative of the far, far left. where do the moderates go? where does middle america go? david: noelle -- >> they don't have a place. david: if i could point to that for a second, stay with you for one moment, on economic policy i don't think it is fair to say he has gone to any kind of extreme right. you look at the tax policy and regulatory policy, it is basically middle of the road conservative, is it not? >> right. not on his economic platform. he is staying true to the values of the republican party but you know as far as evangelicals, you
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know, the social issues, he is embraced the right, which is fine. no problem there. but it is going more towards the right and the democrats are going more towards the left. which leaves an opening, leaves a pathway for a third party. david: talk to danielle about democrats. democrats used to talk about a big tent, particularly the clinton era. it was a big tent under president clinton. he was able to draw from republicans, from moderate republicans, from progressive democrats, it was all there in the democrat party. is it still that big tent because that seems to be the reason why people like howard schultz are running as an independent? >> i think it still is. we are, lead be up to a primary which is always a place where democrats and republicans tend to skew to the extremes because it is the extreme voters that the people, who are very idealogically driven who tend to show up for a primary. there is a lot of talk about
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aoc, whether she is the real face of the republican party, excuse me the democratic party. david: she is not a republican, that's for sure. >> i think republicans talk about her more than we have. david: you may be right on that. >> i think so. it is actually, it is powerful tool, right? >> nevertheless, danielle, just about every democrat who announced they are running for president has endorsed the green plan. >> right. david: her green new deal plan. it is clearly a radical proposal, dramatically would change the way the country and people's lives do business from day-to-day. how do you explain that? that seems to be an endorsement of aoc and her form of economic policy? >> well i think the moderate democrats are seeing this more of generational responsibility rather than taking everything in this plan to make it happen. the idea that we're going to, make all of our buildings in 10 years ecologically, environmentally sound is clearly not going to happen. what democrats will say about
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the green new deal, it is framework, a set of ideas. we have to have big goals, because we have issues with climate change. democratic voterss 80% of democratic voters do think climate change is serious problem -- david: it is more than climate change, danielle that is the point of the green new deal. it goes beyond that into guarantying jobs for everybody, a platform quite dramatic, vest socialist in nature. it has never been done about it democrat party before. it doesn't seem to be a big tent initiative? >> i think democratic nominees, candidates will pick an choose what they want out of the green new deal. i agree it is easy to call it socialism, what you get to the nuts and bolts that is actually possible i think they can thread the needle. david: good news for both of you ladies, independents are billionaires they will not pull from your fund raising efforts. thumbs up on that. great to see you both. thank you for being here. >> thank you. david: ocasio-cortez we were talking about her, refusing to
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denounce nicolas maduro. a advisor to juan guaido reacts. that is coming next. i knew about the tremors.
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david: venezuela opposition leader juan guaido planning to meet today with public employee unions in an effort to recover the state bureaucracy. famed economist thomas sowell joins us next hour with his reaction to the push for socialism right here at home. meanwhile alexandria ocasio-cortez facing criticism for not denouncing nicolas maduro at her latest press conference. take a listen. >> as democratic socialist i'm wondering, what are your thoughts on the venezuelan crisis that is happening now? if you would denounce the maduro regime? >> yeah, so i think that this is absolutely a complex issue. i think it is important we approach this very carefully. david: complex. could venezuela be a warning sign for what could happen if we impose socialism right here in the u.s.?
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to asymmetric can president have fence is a newman. she has been advising one r juan guaido on security matters. first on aoc. a complex issues what is complex about condemning a socialist dictator? i don't think it's a complex issue? >> thank you for having me on, david. i don't think it is complex either. be clear, most of the free world stands with juan guaido. they accepted he is the legitimate president according to venezuela own constitution. if you like the rule of law you like juan guaido. the other thing that is very clear, maduro is the man who sent his security forces to shoot his own citizens for carrying food back to the starving relatives. there is really nothing more to say about that. that is very, very clear. david: that is actually, if you remember, that's why the spanish journalist was incarcerated for a time being because showed maduro, some videotape he had people eating from the garbage.
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that is what people are forced to do, from one of the, once richest countries in the world. >> exactly. if you like the socialist model then you like the fact that 18.7 million venezuelans are losing weight fast. this is a major hunger that, a major starvation that is developing in our own hemisphere. i mean it is, it will go down, if this is not stopped, it will go down in the history books like stalin or mao. if those are your socialist ideals, that is what is going to happen in venezuela this is 18.7 million people are going hungry right now. we need to stop this the ideal scenario for maduro and his cronies to get out of venezuela on a plane and let the rest of us get back to the rule of law, get back to democracy, in transition to let in the humanitarian aid. david: by the way, vanessa, you travel in sophisticated circles in washington and new york,
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et cetera. you have a lot of people that, generally don't necessarily have the same views as you do but when you try to make a parallel between what is happening in venezuela and what could happen here, what kind of response do you get? >> what, amongst my friends? david: yeah. >> people always think it can't happen. when something magnitude of this happens in another country, you go they must be so different, because that would never happen here. when i was a child we grew up and we would fly to miami on shopping trips because it was so close by. venezuela was a fabulously wealthy country. a lot of people had homes, in miami, in new york, in paris and in london. and now, and yes, there were problems with inequality and corruption certainly, so i certainly understand why chavez rose up to address this but what they did is not the answer and what i keep telling people is when your government takes away from you your ability to
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produce, to exchange money, and to travel, to own property in exchange, it really takes away a fundamental freedom. david: it does. and when the government takes over the means of production, efficiency just goes out the window which is why i wonder if guaido has been specific about how, if maduro leaves and he takes over as president, how would he move that economy from a socialist model to a more free market one? has he made out the plans to do so? >> yes, there is a plan and it is actually being discussed here in washington, d.c. today. we have a plan for the recovery of the oil industry and the economics industry and we're working also on security and security force integration plan. david: will the oil industry be privatized? >> yes. david: after all, even before chavez, perez was president when he socialized the oil industry. would it be privatized? >> yes, we all accepted it needs to be privatized. to your point, yesterday we had
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ricardo houseman, eminent professor at harvard got assigned to be guaido's ambassador to the interamerican bank. he has written a phenomenal plan for recovery of venezuela that would be the tip of the spear in the venezuela recovery. he is very clear about privatization and recovery of the productive capacity. david: boy, that would be -- it has been three, four decades since you had a privatizeed oil industry. vanessa neumann, thank you very much. >> at thank you very much. david: is amazon about to change the game for supermarkets? details coming up. ♪ this is decision tech. it's screening technology that helps you find a stock based on what's trending or an investing goal.
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>> welcome back to cavuto. i'm kristina partsinevelos at
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new york stock exchange. look at retail roundup. kohl's, better-than-expected profit, better than expected sales, especially during a crucial time of holiday season. they missed on revenue ever so slightly. came in at $6.5 billion, lower than expected. some of the promotions they had did increase store traffic. brought people into the store. kohl's working closely with some partners like amazon.com. the company also announced they will be buying back 500 million shares and increasing their dividend to 67 cents per share. the next payout is in april. switching to target, you're also seeing target shares climbing a little bit higher, almost 5% higher. that is a double beat. you're seeing some strength when it comes to sales. seeing strength when it comes to earnings per share, beating by a penny. for sales, i want to focus on sales for stores hope more than a year. seeing that climb 5% a little bit over 5%. we haven't seen numbers like that over a decade. what is happening at target?
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remodeling the stores. pushing forward with online delivery. they're trying to reach out to all the parents. they really stocked up on toys over the holiday season when toys "r" us went bankrupt. we know from target and kohl's they both gave bullish earnings guidance. last but not least, home depot announced they have 80,000 job postings on website. full time, part time. david: wasn't for retail, the market would be lower. thank you very much, kristina. >> thank you. david: a grocery game-changer, amazon is set to disrupt the supermarket industry with its own supermarket stores. fill -- phil lambert, good to see you. this is very different than what they do with whole foods, right? >> absolutelily david. i think we'll see amazon stores. as kristina just said target
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increased their in store traffic by 5%. that's significant. what we're finding millenials and generation z, they want the retail experiences in store. so i think what we're going to see from amazon, not just a grocery store. i think we'll see like a mini target. if you look at their leases reported by "the wall street journal," what they're saying they're not specifying that it's a grocery store. that they could have health and beauty aids, they could have electronics in there, they could have clothing. i think amazon will create a fabulous retail experience. david: what, let's talk about what amazon is because it is not exactly a technology company. it's a supply chain company. because of the genius of jeff bezos they figured out a way to with their supply chain to bring stuff to people that had never been possible before, and prices that had never been possible before. does that supply chain model that they revolutionized work in the grocery business.
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>> i think it does, david, but also, if we look at last week, staista reported that 26.5% net sales of amazon is going to logistics, fulfillment and delivery. that is not sustainable, when you have that kind of percentage going into that. so what amazon wants to do, they want to get stores. they want to get brick-and-mortar. again we're seeing the concern from a lot of consumers wanting to get into stores especially when it comes to grocery. they want to look at the fruit, they want to be pick their meat, because a lot of delivery services are frankly not doing a great job. david: here is the problem they're dealing with. they have haven't been doing well with whole foods. there are a lot of customer complaints. john mackey, who started whole foods set up terrific relationship with the employee, essentially every employee was manager, they had responsibility, terrific bonuses related to their success.
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some of that has gone by the wayside. and a lot of customers are complaining about it. are they addressing that in any way? >> they are, but keep in mind the people complaining are the ex-whole foods shoppers that wanted it the old way, really left once amazon took over. also keep in mind that what amazon wants to do with whole foods is expand the marketplace. have more people come in that have never been to a whole foods before. they have lowered price, they have done some things. let's not forget the reason amazon was able to buy whole foods it was broken. it just wasn't working. they didn't have any data. their customer count while it was good, they weren't making the kind of money they should have. david: yeah. that is when jeff bezos came in. we'll see what happens. phil, great to see thank you very much. appreciate it. >> thank you, david. david: house financial service is chair maxine waters calling for immediate, immediate impeachment of donald trump. coming up legendary economist
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david: democrat congressman jerry nadler requesting documents from dozens of people, 81 actually, linked to the president and his associates. to powe lit call playbook coauthor anna palmer, whether any of this is worrying the white house. anna, i'm wondering if the white house thinks that the poll numbers, again relatively speak having been pretty good for the president recently. i'm wondering if they think maybe all this probing is actually helping him politically? >> certainly they are attacking it pretty ferociously from the white house, from sarah huckabee sanders, from other republicans on capitol hill. we heard counterpunch back democrats are overreaching. this is not about collusion. that the mueller report isn't going to get anywhere but i do think these are serious questions and these are serious probes. this isn't just congresspeople asking questions. they have subpoena power. so there is concern. i'm hearing among republicans that this is going to drag on. this will be the thing that kind of, investigations of a lot of
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these different agencies and white house will be next two years of this presidency. david: right after the election, we heard some more moderate democrats talking about, no, we want to legislate more than investigate. seems that is out the window, doesn't it? >> certainly that is something that the freshmen democrats said. i think they sent a letter right away to nancy pelosi, when she was in her speakers race we need to make sure we can have wins on legislation. that is what we came to congress for. i think if you asked democratic leadership, they would say hey, we can walk and chew gum at same time. we will do legislation and investigations. clearly the investigations are sucking up all the oxygen. david: that is a great way of putting it. the other way is political capital. there is only so much political capital you have. you have to decide where you're going to spend it. and spending so much of that political capital on investigations right now. how much more do they have left over for legislation? >> i think time will only tell. this is certainly what divided government often looks like.
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when there was a democrat in the white house and republicans were in control of the house you also saw a lot of investigations. david: guess what, newt gingrich since is then he said this week that was a mistake of republicans to focus so much attention on the impeachment of bill clinton. >> hindsight is 20/20 gore a lot of people at the moment i don't think that is what he would have said. if there is overreach there is a lot of concern what happened in 2020, and a lot of these districts that democrats won that republicans, historically republican. david: now they clearly want to get rid of donald trump but i'm wondering what way? do they want to impeach him or just wound him badly going into 2020? what's their goal there? >> i think there is mixed opinion on that. i don't think there is one universal opinion. i think as you said earlier maxine waters, calling for immediate impeachment.
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so there is definite energy on the left for that, but i think that is a political play, right? so there is also a lot of democrats who want to try to, you know, make some cuts in terms of where donald trump stands and try to be able to make the case to some of these more moderate conservatives they should be able to vote for a democrat in 2020 and make him a one-term president. david: anna palmer. thank you for being here. appreciate it. california democrat maxine waters saying for trump impeachment is the only answer. charlie gasparino has been ahead of this, reporting on maxine waters what a headache she could be for president trump. >> as we reported months ago when democrats first took over i said the threat of maxine waters will not be with the big banks necessarily. a lot of people thought she would go after jpmorgan. uh-uh, it will be trump mainly. the trump intersecting with big banks. so that is why, one of the names i pointed out at the time was deutsche bank. remember that was donald trump's
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long time bank he did his business dealings through. you notice she is focusing on deutsche bank right now. focusing what they did, what i understand, cooperating with her with information requests from the house financial services committee. so it is very interesting that she is going this route. i will say this, i heard your last guest, talking about overplaying the hand in terms of investigations and some freshmen wanted to do legislation, there is not much legislatively the democrats can do. they don't have the senate and don't have the presidency. what is left for them to do? david: impeachment. >> investigations. here is where they could step over the line but i will say this, as someone who has covered donald trump, his businesses for years, there is always been these questions about him and -- david: seems like what happened last week with michael cohen show was that, it actually went against their interests. that is, for one thing he said there was no collusion but, do
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you think it had the opposite effect they're looking for? >> two takeaways from michael cohen. he was not involved in any of the collusion stuff. maybe that is not what they're going after after all. i thought he was strongest being questioned by aoc, when she asked him point-blank about how he would handle, how he would inflate assets for the inches insurance document because he wants more coverage and deflate them for paying less taxes. she honed in on that. he gave pretty specific answers. to me that is where he is very vulnerable. david: vulnerability frankly of any new york business person because that sort of thing is done, you know new york business better than anybody. that is done so often particularly in real estate. >> depends how much you go there. i'm just telling you how much did he push the envelope on that?
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i mean listen a lot of people thought romney screwed around with his taxes. he actually didn't. there were some years he apparently didn't pay taxes but did it totally legally. we don't know that. the problem donald has when he didn't release the tax returns, it cited this sort of void of information. people are like what is he hiding? we're going to find out what he is hiding. it might not be pretty. david: an entire lifetime in new york real estate business there is bound to be something there, right? >> you know, i don't think you should brush it off he is doing what everybody else is doing. i think you should -- i don't know every new york businessman, i don't think every new york real estate businessman is corrupt. i'm just saying, if that is what they find there -- david: talking about what everybody is doing, doesn't maxine waters have banking dirty water. >> her husband was involved. neil: she was involved in a bailout of the bank that her husband worked for, he was director on that, it was terribly-run bank. didn't deserve a bailout. they had a porsche as their
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company car. is she worried about trump hitting back with her past history and dirty laundry on this subject? >> probably. she is not president. head of the financial services committee. she is not the one the southern district is looking at now. i went to a book talk chris christie gave because he is selling a book, one of the interesting things he says is not necessarily mueller but the southern district. u.s. attorneys in the southern district which operate independently. they hone in on financial crimes. david: michael cohen dangled that interesting tidbit he may be giving information to them. >> he clearly showed them that, told them where to go, or they're asking him about those issues. david: charlie gasparino has on on it from the beginning. charlie, thank you very much. coming up next hour the breakdown of socialism showing up on the streets of venezuela. plus i will be talking to legendary economists, really a national treasure. thomas sowell is here live ton
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>> welcome to our two of "cavuto: coast to coast." i am david asman in for neil cavuto. stocks hold that as investors have details of a possible china trade deal. its own economy as it cuts its growth target. edward lorenz on what this could mean. >> very interesting for the chinese announced they are/generics but patience for growth in 2019. it is between 6% and six by 5% gross. they announced their growth was the lowest in 30 years and that was still more than the 2019 projection. it's still signals a weaker economy. also companies in china say american manufacturers have
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started to ship their supply chain. that could signal long-term damage to the chinese economy without a trade deal. according to tracers as the deputy level discussions continue even today working in the background to get to a trade deal. the president saw enough progress to suspend the increasing terrorist than $200 billion for the chinese good to 25% until further notice. it was officially published in the federal register today. a signal to the chinese to come to the table with meaningful structural changes. the speed of those changes have been a sticking point and complicated the matter further the cfo has their extradition hearing tomorrow. experts say the president can separate the criminal case for the trade deal. >> if there is one defining feature of statecraft in foreign policy that each of these themes to negotiations are one thing.
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>> in another lane to ride the european union trade commissioner will be in washington with their negotiations. we have a stalemate because the e.u. refuses to put agriculture on the table and some in the administration accusing the e.u. of dragging its feet could europeans maintain as long as negotiations continue to expect the president to honor the agreement and hold off an opposing auto tariffs. without any progress the frustration could be mounting in the white house. david: edward, thank you very much. does it help or hurt trade talks? the global portfolio manager jack my entire -- mcintyre and senior research fellow -- forgive me. let me start with you. what do you think about how china slowdown might affect her trade talks if at all? >> i think it could affect if it they are serious tension not just because of the united
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states and china. i was looking at a growth number this morning and they really haven't been in a growth number in quite a while. and so there's a lot of pressure on the president to get the economy going. the trade war is not helping and we shouldn't be surprised. it doesn't work in the u.s. senate doesn't work in china. and so, all these terrorists are hurting -- are tariffs are hurting our consumers. the pressure is mounting. david: they also have this new foreign investment law meant to encourage investment in china from foreigners that supposedly gives foreigners a lot more freedom than they've had in the past. will they deliver on this or is it another empty promise?
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>> you normally have to wait to see what their actions are. i think they will deliver. this is a little bit different environment while fixing and as you point out china's ruling. they can't afford to have the strait tension drag out too much further. i think they're willing to bring something to the table. i don't want your viewers to say this is a new economic cold war between the u.s. and china. we've got this battle that i think is going to have a decent outcome and will reach an agreement. sure into this new foreign investment among a things allows foreigners to open a bit less about chinese partners necessarily or at least the vast diminishment of the number of chinese partners you have to have. do you think that it's for real or is this again another attempt that doesn't have any real backing. >> it's hard to say that i actually suspect that it's probably real. remember as great as it is for
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foreign investors in china, it is even better for the chinese. the chinese will not succeed because of their industrial policies. they will succeed when they put in place strong free-market policies. and unfortunately under president -- he has scaled back away from those -- plus the rental would give him a strong incentive to open up a little bit and i could be a first step. true to it brings up a great point that the chinese are natural entrepreneurs. despite all of this bad stuff that the communist government does in terms of stealing our property -- intellectual property and try to invade foreign companies, there is this natural entrepreneurship and doesn't take much delight that fire and includes tax cuts come
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a significant tax cuts and the regulatory sounds a little champion. >> supply-side economics. and remember that the chinese economy is transforming even before arius consumption services are becoming an increasingly bigger driver of growth. the private sector is getting as you pointed out a little sort of fire in their bellies come in all spirit. long-term i think you can still pay a pretty constructive outlook on china. the u.s. needs a stronger china. the u.s. needs a global economy. we're not an economic island. if the rest of the road is slowing down the u.s. has got a slowdown. >> just sticking with this new policy as they said trump began pause. on the other hand, as you mentioned before, she wants to be president for life.
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she is a full-fledged communist party member. have no illusions about it. if you give up more economic freedom, doesn't he endanger his personal goal of a totalitarian control of the country. >> e. endangers it because the chinese have actually gotten what it is to be able to trade what it is, to be a little grow what it is, to be able to get richer, to be able to serve your family and dream of a brighter future. the economy is slowing down as it is than it has been and it's going to slow down further and it is going to create serious as it is already creating a lot of criticism coming from within china about the feeling of ip, about the bad industrial policy of directing loans to cronies. i mean, there's a lot of things.
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i think president xi jinping is in a bad place. i think it's a great place for those who believe in market. i just don't see how he maintains that without opening up. david: very quick final point on the trump administration's view. it seems at first they were quite happy with china going down the tubes economically speaking because china was seen as a threat. it is clearly a cyberthreat et cetera. but on the other hand they saw how the world economy was affected and how her own stock market is affected when china does badly. has that view changed somewhat from the trump administration? >> the trump administration has changed in the said here the realization as i point out earlier. historically when the rest of the world slows down the u.s. inevitably slows down.
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we need china doing while. the u.s. and china are the elephants when they fight, the mice get squashed. we need the u.s. and china to step up and reach an agreement. just in the context as you point out an economic cold war. sure into good to see you both. thank you very much. appreciate it. legendary economist tom saul on the debate over socialism versus capitalism as the democrats pushed further to the left. venezuela facing total collapse. don't miss in there. by pm eastern we debate all of today's headlines and how markets are reacting. we will see you tonight. - hello, i'm brad castillo.
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david: the debate over socialism hating us americans watch tragedy unfold in venezuela. legendary author of discrimination and disparity is a new and enlarged edition on the growing socialism movement right here in united states. wonderful to see you again. thank you for being here. >> good to be with you. david: u.s. mental lifetime bitterly using specific evidence to disprove bad economic policies with all the evidence about socialism, not to mention barbarism in the 20th century appeared to surprise of its resurgence right here in the united states? >> unfortunately our educational system or the media encourage people to test ideas against facts. socialism is a wonderful founding idea.
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david: used yourself as a student were drawn towards socialist ideas. >> pistil cloture votes on marxism is not only negative. what turns you against that model? >> facts. with the passing years i looked into more and more things. i saw the difference between reality and the rhetoric. unfortunately, so many people today including the leading universities don't pay much attention. david: do think the facts and evidence about socialism will sink in before these kinds of policies in the united states. >> what is known already when
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you see people starving in venezuela and fleeing into neighboring countries and realize this is a country with the world's largest oil reserves. everyone a very good prospect and didn't turn out well. david: the answer always is when you point to examples of socialism that turns at the very least into horrible economic conditions. that was a special instance. venezuela has a very different culture than the united states. it could never happen here. how do you respond for that? >> i would say looking at in a worldwide perspective, the so-called exceptions are almost universal on every continent among people of every race, creed and whatever.
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david: what you make of alexandria ocasio-cortez. she has this growing a movement who haven't been particularly persuaded by this socialist mean. do you think it will continue or will she fall flat. she goes by rhetoric she's a rising star. when you expose the new edition discrimination disparities. reparations for slavery. how do you respond to that?
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a hundred years ago as genetics and other times and places it was exploitation. but again, these are ideas that sound plausible. when you do your research, you discover that everywhere there a thousand reasons why people don't count the same. i point out that the firstborn has higher iqs than siblings has more achievements among astronauts were example to 29 astronauts in the apollo program that put a man on the moon. 22 were either the firstborn are an only child. if you can't get a quality raised under the same roof, why in the world do you think you're going to get it among people of such different histories around the world.
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david: when you continue to hear politicians using statistics, sort of cherry-picking statistics in order to form economic policies are the government has strictly involved. they always do it under the guise of social does. it seems like anything that is led by the phrase social justice can be accepted by these people. >> yes, and i guess one of the crucial assumptions of the social justice literature is back in the absence of bias, people would be similar. but they are not in the letter. they are not demographically similar. for example, the median age of jewish american and japanese americans is around 50. there's no way they are going be equally represented in another society in the national football league. 50-year-olds are not going to compete with people in their 20s. david: they see the kind of break for sport teams, but when
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it comes down to the general housing market, for example, various policies have been specifically oriented towards the use of statistics to show that in fact more black people are denied mortgages than white people, et cetera. they cherry pick statistics to try to push social policy is whether government gets involved needlessly. >> yes, well that is one of the fallacies i show up in my book, that if you look at the average credit score of people of different ethnic backgrounds, the discord for the rank credit scores by acceptance of the highest policy mortgages. in turn down far more than asian-americans. david: why is this misused? is it because so often the statistics that don't work.
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is it because politicians extend their term in office. that exists. what do you think motivates peoples to do these things that clearly >> saying things people and showing evidence they are doing wrong. too many wealthy people that in order to redistribute income we don't want to take all of the people and bring back the guillotine and need a wealth tax in order to cut into some of their riches. what you think about? >> i think that's one of the biggest fallacy is because the most fundamental kind of wealth is human capital, which is inside people's heads and you
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can't confiscate back. any number of countries that have forced people out of the country to expel them or driven them out and wouldn't let them take their wealth with them. the asians who arrive destitute. the case for doing it means nothing if you can't do it. david: professor, used to love reading your column every week and one thing that is less economic and it's more social that's been happening recently, particularly throwing around terms calling people racist what
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would you say about that with regard to president trump. you consider him to be a racist? >> i don't know enough about the man. any such accusation accompanied by something we can test against facts. david: you certainly heard that charge anti-semitism despite the fact that his daughters to convert judaism. and then the charge can stick to what they may happen to be. david: i must say to ask this question because you're so honest and see things straight on. do you think we are destined to
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go through. but socialism. where these ideas and could bring down our country. >> the predictions of economists do not encourage me to go far in that direction. but i do have a great fear that in the long run we may not make it. i hate to say that. the one thing to keep me from being despairing as of course we don't know. there's so many things we can't possibly know. i wouldn't bet on it. david: tomasello, you really are a great economist and treasurer for the united states of america. we appreciate you coming on. we wish you the very best of luck. your newest biggest addition of discrimination disparities can
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be taught at the bookstores are an amazon right now. thank you for being here. really appreciate it. >> thank you. david: howard schultz, mark cuban, how worried are democrats and republicans in billionaire third-party run. details coming next. ♪ - hoo!
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david: as i remember, howard still has completely thrown his hat into the ring, right? >> you're absolutely right about that. one thing howard wants a do over the next three months or so his travel the country and talk to americans to see if there is an appetite out there for a third-party candidate to run. the research that he's done so far shows that there likely is. he does have to start talking to more americans to get that message across. turning to the howard we are talking about is howard schultz who is the former starbucks cheap who's considering a run. looks like he's ready to throw the hat into the ring.
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is there an appetite for third-party candidate the democrats and republicans should worry about it all. colored his foundation editor-in-chief, chris bedford joining us now. by the way, before we go into howard, i want to ask about tom sowell who is an american economist. you heard it's rather depressing ending that maybe america will have to go through a socialist era that would drag it down before they learn completely. >> i don't think the amount of pressure that exists at this big balloon from growing up has been displayed at enough. there is still a real appetite for someone who's got a radical vision for america whether it's more to the rider more to the left. one of my favorite was the conflict of visions and breaking down the way people look at these issues differently and how they may not ever be able to come to terms on what they
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actually agree on. we are at a dangerous place in america for economics. trying to get have people like howard schultz trying to find a middle lane. do you think you will? >> i think you can find a destructive link for sure. i don't know if it's a person to do it. mark cuban is actually -- before the election to president trump i would say mark cuban doesn't necessarily stand a chance. now it's in politics turn on its head so many times somebody who can speak to the american people and who can be entertained an interesting and put his finger on the pulse may actually have a shot if not it went and i think it's less likely that at least cause a major distraction. tragedy is a businessman, a billionaire who has his own reality tv show. it's a familiar story. it works. >> it does. recite third-party candidate really derail the democratic
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election and al gore losing to george w. bush. nader got about 100,000 votes in florida and bush barely squeak that out. an exit poll showed about half of those voters said they would've gone for al gore and only if it would've gone to george w. bush. if that had laid out the way, there would've never been a recount. they would've never been supreme court in all gore likely would've been the president. politicians on both sides have to be watching this worried. david: if there is another presidential term of trump, if he wins reelection in 2020, is it possible that by then there may be a place for mark cuban? >> may be. it's possible but i don't see anyone coming from the right. somebody breaking off in the gop seems more like a pipe dream. a couple folks especially based in washington d.c. and some in new york who think the republican party has in
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hijacked. uas get back from folks in the right wing lanes. you've got nice and gary bald -- barry goldwater. in the pushback they oftentimes are successful and i don't think there's a big appetite on the right as much as there is on the left. david: one thing donald trump is due have to fix america and keep it on the right track. they want someone who has real world experience even in the wild word of realist date, then as a possible at the very least whoever that may be to be from the real world rather than the academic or political one. >> someone who's not poll tested.
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and what is accomplished. david: in the debate that proves i'm smart. he didn't run away from it. chris bedford, good to see you. tree into the ceo says the company is going to step up restructuring of power and that is where we are going to begin the next segment. we'll be right back. ♪ now... grandpa, what about your dream car? this is my dream now. principal we can help you plan for that . that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen.
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david: democrats are pushing to revive regulations for the internet to president trump repealed in 2017. hillary von has the very latest on that. david: the republican voted to reinstate net neutrality rules last year, but the house didn't take up the issue in time before the end of the year. so now house speaker nancy pelosi is promising to push through an impact the internet act. but some internet providers like
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verizon and at&t tommy if net neutrality rules when away, nothing would change for them because regulations were rolled back. internet service didn't change further users. for rising remains fully committed to an open internet. that's our position for many years. nothing has changed. at&t today stand by their commitment a year ago that their internet service would not change for users and still has not. there is still bipartisan support with some industry oversight. it is unclear. if it goes further than reinstate net neutrality rules and the internet service providers i talked to say they're waiting to see what's in the plan. david: thank you very much. coming up, alexandria ocasio-cortez pushing a new tax on all stock trades. yes, her mother is talking up
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and free shipping. upload your logo or start your design today at customink.com. david: general electric shares
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tumbling after the ceo said industrial's free cash flow is going to be negative in 2019. kristina partsinevelos is at the new york stock exchange with more. >> we are seeing a ge stuff at the moment. the jpmorgan aviation and transportation conference in new york city. he made the statement about mega-free cash flow that's left after operating and capital expenditures are taken care of. a big marker for efficiency. when investors look at his reaction on the market. the ceo went on to say they need to restructure the power division facing a lot of headwinds that could last for several years. primarily with the acquisition of all stoned power to happen back in 2015 are they spent about $10 billion to buy that company. that's part of the reason you're seeing a major drop right now. also the board and senior executives at ge also want to see more transparency when it comes to financial reporting. this is all breaking right now
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at the jpmorgan conference in new york. switching gears, the dallas fed chair, robert kaplan raising concerns today about the level of corporate debt amongst firms that are not in the financial district. these are nonfinancial debt levels. he's saying it could potentially hurt the ability for these firms to invest in the future, invest in people and it comes at a time when you see corporate debt rise at the same time as government debt. he further implies this could mean a very highly sensitive environment, a danger for any type of economic recession if there is one on the horizon. this could impact the severity of a recession going forward. we know right now the fed still wasn't clear. the general said the fed reserve about raising interest rates. the key word is patience right now. last but not least another big mover is possible at the moment. down about 1% you've got reports coming from china that the model three is being held at the
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border because of unclear laboring -- labeling on the vehicle. this could cause restrictions and this is a big deal for tesla because china is a massive market down to $192. this comes to an online only model. back to you, david. david: 198, that's a huge draw. 192. david: thank you very much. tax in all stock trades, democrats trading ideas on just how to do that. deirdre bolton joins us with more. reporter: that is right. today is that a democratic congressman from oregon leading the charge against wall street. he's good to introduce legislation today on stocks, bonds or derivatives. this is not the first time is targeted wall street. he introduced a similar bill that there was more pickup at the time. congresswoman alexandria
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ocasio-cortez a lead cosponsor of the bill along with a dozen others. he wants to discourage high-frequency trade to avoid another flash crash. he also said the money from the tax could go to more worthy causes. for causes. for example the joint committee on taxation estimates of financial transaction tax could help reduce the budget by adding revenues of $777 billion during 10 years. if the exact form in here is what it means for you. individual investors would pay .01% per transaction and the online account. ameritrade, schwab, whatever you have. individuals would not be taxed when putting money into 401(k), but the companies that manage that money whenever they bought or sold securities. in theory as the managers pay the tax, biscuit takes a
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corporations always find a way to pass down added cost to consumers. we want to know if this is a proposed bill, proposed legislation far from being passed. david: defazio is an occupy wall street guy. he's probably the biggest tax and regulate guy in congress. but still, who knows what's going happen. it's out there. >> it is out there. david: thank you very much. meanwhile, alexandria ocasio-cortez's mother just signaled how nice it is to be tax-free or at least living with lower taxes. telling the daily mail, quote, i was paying $10,000 a year in real estate taxes up north, meaning in new york. i am paying $600 a year in florida. it is stress-free down here. is all of this giving democrat to capri cafaro on what she makes of all of this. it is kind of funny that on the
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one hand, ocasio-cortez talking about the end of the american dream or at least there never was an american dream and her mother finding the american dream down in florida. >> the good old family feud. you know, and there is nothing that says a mother and daughter need to share the same ideology or agree all the time i would ever fill the blank policy. i think it is definitely -- i think it's a little bit funny, but i think it does highlight the impact of what someone like congresswoman ocasio-cortez is advocating for when it comes to increasing taxes and the fact that as on other americans as well. david: by the way, her mother collister sold boc, blanche ocasio-cortez. so she can't stand the taxes up north. she buys and 87,000-dollar
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house. it was a fixer-upper. it was cheap for a reason. but she spent a lot of time fixing it appeared she painted it, fix the plumbing, fix the electricity and she's really happy now. it is a quintessential -- it's just a great american dream story. it could be used by donald trump to talk about the american dream. >> again, good for her. she's an american citizen. she can do whatever she wants. her daughter can do whatever she wants, too. but i think it's important to recognize that alexandria ocasio-cortez does not speak for all democrats. here in ohio i may not be a dose he or boc. im coc. we need to make sure that we grow the economy from the middle out. not necessarily the top down. they have more money in their pocket an opportunity to spend
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that money. that means more people are going to work and whether it's the service industry, manufacturing and the like. i wish the media wouldn't be so fixated on the loud but small group. david: it's not just the media. i don't want to defend the media, but it's the democrat party themselves. almost every single one of the people who declare themselves candidates for 2020 among the democrats support the new deal. it is getting a disproportionate amount of face time to the progressive wing. undoubtedly there is a growing far left wing of the democratic party of and i think that he is declared candidates i think on the democratic side has bought into this thought process that somehow everybody is worked onto the left. what i think we are seeing is
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the loud moderate voice starting to come out. you know how taken looper from colorado the former governor there. amy klobuchar was trying to position herself as a realist. i think we're going to see whether it's joe biden, sherrod brown from ohio. what is happening is that moderates are realizing because they are pragmatic they are getting drowned out and they realize that the middle needs a voice and the fact progressives have been so loud maybe it's waking up the middle to say hey, we haven't gone anywhere. we represent the majority of americans were not going to be silenced by a few loud people. david: or it's driving moderates out of the democrat party. you get people like our chill, mark cuban. i am clear whether he's democrat or republican. they might be pulling the labor force somebody is neither
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democrat or republican. >> that is not what our system is geared up for. focus on how we can make the system better rate now. moderates on either side, whether it's moderate democrats are moderate republicans that we abandon the system, the far left and far right takeover is nobody's fault but ours. david: capri cafaro, great to see you. new details on a possible breakthrough in the fight against aids and possibly cancer as well. you don't want to miss this next.
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david: uk counter terror police investigating three packages that apparently contained explosives. they are found in heathrow airport, london city airport, waterloo station. three separate bags with
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improvised explosive devices were found in postal bags. officials say no one was harmed by the devices. we'll keep you updated here on fbn. is a hiv cure among us. we have a board-certified medicine family doctor on what the breakthrough means. do we know this is an actual cure, doctor? >> i like this story because i know it brings hope to people around the world. 1.1 million people are live with hiv in the united states and one in seven don't even aware they have the illness. as family practitioner to get tested. there is huge caveat when we use the term cure. this patient had a blood cancer treated by a bone narrow transplant from a donor that had specific subtype of genes resistant to allowing the hiv virus to enter cells.
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david: bottom line is, cutting through the jargon we're still not sure it is an absolute cure? >> scientists would like to call this a long-term remission. 19 months in the patient is off hiv medication and does not have any visible sign of the virus. david: that is wonderful news. how transferable, if at all is this technique to other diseases in particular cancer? >> this technique has been used for cancer for quite some time. question how applicable is it to people that suffer with aids? we have a patient, timothy ray brown, the labeled the berlin patient. he was officially kurd with the treatment. second patient using the same treatment, it brings hope very small population of those suffering with hiv what it brings most hope to scientists, doctor, how we go attacking this virus in the future. david: this is a stem cell. there is question whether it is embrey ontic or adult
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stem cells. a lot of people have problems with the embryonic stem cells because it comes from fetuses of aborted children. do we know what kind of stem cell this is? >> donor adult stem cell. david: not embryonic. >> not embryonic in this case. interesting, 1% of european individuals who have this specific subtype of gene resistant for hiv. we look for people who have the subtype to be donors. david: you say this has been used, this technique for cancer in the past but there have been breakthroughs working on this particular patient. >> absolutely. in order for the bone marrow transplant to take we have to actively destroy the person's immune sim. we have people lose their lives. myself included. i lost my mom because of receiving bone marrow transplant for lukemia. david: for all the bad news we
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cover it is great to cover great news like this. doctor, great to see you. appreciate it. >> appreciate it. david: the market still on the flat line basis, but if anybody can bring it to life, charles payne who starts right now. charles: thanks, david. great interview with thomas sowell. david: we love tom sowell. he is the best. charles: i'm charles payne. this is "making money." gains are being die -- digested. some are retreating to hot names, facebook, alphabet, google. in a way they have become odd safe havens. retailers are rocking led by target and kohl's posting positive financial results and extremely confidence guidance for entire year. is this more proof of the u.s. consumer. markets in china on a tear

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