tv After the Bell FOX Business May 22, 2019 4:00pm-5:00pm EDT
too hard to do. liz: he likes pepsi, mcdonald's, legg mason and verizon. jordan kimmel, great to see you. [closing bell rings] there is still trade uncertainty. two. days to go until memorial day. we'll see you tomorrow. melissa: a scheduled sit-down over the nation's top leaders ending in a surprise announcement and dueling news conferences t was a wreck. there are doubts anything can be done in washington. did we think they could do stuff before? connell: we did like 10 seconds. >> so disappointing. stocks on pace for the worst may in seven years. all three major averages ending the day in the red on u.s.-china trade uncertainty. i'm melissa francis. >> i'm connell mcshane. this is "after the bell." the dow lower by 101 points. not far off the session low. s&p fav hundred and nasdaq in
negative territory for the day. nasdaq by 35 points. a lot to talk about with fox team coverage. blake burman at the floor of new york stock exchange. chad pergram on capitol hill for us. blake, start with you, what happened in that building behind you today? reporter: let me give it timeline way this shook out earlier, connell. 100 minutes crystallized everything where things stand here in washington, d.c. most certainly between president trump an democratic leadership in the city. it started at about earlier this morning, 8:00, 9:00 hour, nancy pelosi up on capitol hill held a meeting with her democratic colleagues about the way forward with president trump and discussions about possible impeachment proceedings. after that meeting with her democratic colleagues she came out and said this, listen. >> we believe that no one is above the law including the president of the united states and we believe as president of the united states is engaged in a coverup.
reporter: president of the united states is engaged in a coverup, pelosi said. that was 10:10 this morning. roughly an hour later, pelosi and chuck schumer came over here to the white house to talk talk to talk to the president about infrastructure. that meeting lasted a handful of minutes. president walking in, saying what he had to say, turning around, walking right out of the meeting. he walked into the rose garden for an impromptu press conference. >> i talked into the room and i told senator schumer, speaker pelosi, i want to do infrastructure. i want to do it more than you want to do it. i would be really good at that. that's what i do but you know what? you can't do it under these circumstances. so get these phony investigations over with. reporter: the president said going forward he can only go down one of two tracks, really the way things could shake out. one of those tracks being
investment, essentially both parties coming together, investing in this country, getting something done, or, the other track being investigation. connell, melissa. it is pretty apparent at this point one of those two tracks this train is headed. connell: blake, no doubt. let's get the other side as we head up to capitol hill, chad pergram, fox news capitol hill senior producer. you know, blake laid it out in terms of the president's side. what about the democratic reaction. what now, chad? >> it was amazing how quick the meating was, i was there when house speaker nancy pelosi left departing for the white house. i got this message they were coming back. i said to a senior house source, what disit mean? nothing good. they were back in a matter of minutes and listen what nancy pelosi and chuck schumer said when they returned to capitol hill. >> we were interested, we are interested in doing infrastructure. it is clear the president isn't. he is looking for every excuse.
>> makes me wonder why he did that. in any event i pray for the president of the united states. and i pray for the united states of america. reporter: keep in mind this is the narrative that republicans want. that the democrats in the house of representatives are overplaying their hand on impeachment. they had had that meeting just before, not directly to talk about impeachment, give a status report where they were with various investigations. republicans like this, this looks good for the president if they think the democrats are pushing too far or in the public eye are perceived as being pushing too far. here's the other issue. when we talk about those, those topics, those main bread and butter issues they have to solve we thought around this time yesterday there was a second meeting between administration officials and top republican and democrats here on capitol hill working out a spending agreement for the next two years, raising the debt ceiling, something that will be critical. it is something very important to steve mnuchin, the treasury
secretary. mitch mcconnell, the senate majority leader thought they might have a deal by end of yesterday. they didn't quite get there. one wonders whether they get there, connell. connell: one does. what a mess. melissa. melissa: here is to react strips coglianese, dale at this caller executive editor. this is such a mess. this is business show. let me ask you money questions about this. nancy pelosi said moments before she knew she was going over to talk about infrastructure, she said the president is involved in a cuffup right now, still perpetrating. she knew that would blow up the infrastructure meeting. why do you think the democrats would want to do that? that is spending. that is building. seems like it is one of their good issues. good for the economy, what do you think? >> nancy pelosi is try aging her problems. top among them are holding the caucus together. democrats are furious at
donald trump. they want to impeach him from office. some percentage of our caucus does. she thought today she could walk the middle ground and make a statement, about the president being involved some coverup and that would ease the mondays of people want to see her push further attacking president of the united states. it blew up in her face. by the time she bottom to the white house, president is done. issue ultimatum. stop harassing me and i i will work with you. but if you continue i can't work with you. melissa: she said for whatever reason he didn't want to do infrastructure. that is what she is charging. is there any possibility that's true? to me seems like sadly the one thing all these people do well together is spend our money. so the idea, you know, oh, he didn't know how he was going to pay for it, where the money was going to come from. they never worry about where the money comes from, coming from your and my pocket. do you buy that?
>> hard to see that. the president made it really clear throughout his presidency that he would like to pursue a infrastructure deal. you and i both know heading into an election year, collaboration on legislation of this size of any kind is very hard to do, no matter who is president of the united states. but what donald trump in presidency his insistence over and over he wants to pursue a infrastructure bill, one trillion dollars, subsequently two trillion dollars, hard to imagine he brought them over to the white house to do nothing. melissa: they got together, prison reform, that sort of thing. it seems like they could find some middle ground along the way. you know the market is concerned. it makes sense because two of the issues that are top of mind right now, is infrastructure. it is also, three issues, immigration, which is meaningful to businesses because they're looking to get more workers. we have a labor shortage going on right now. of course there is all of the tray agreements that hang in the balance. does what happened today, how does that make you feel about
those things the market and economy need to see happen? do we have any hope? >> this is a chance for chuck schumer and nancy pelosi to prove they are the adults in the room they claim to be. the president apparently indicated in a letter to them he wants them to finish with the usmca, the united states, mexico canada agreement. to get the new nafta trade deal done. here is the opportunity. they can advance that and demonstrate a good-faith effort for the president of the night. maybe they can get him back to the table. for now all congress is propagating is the harrassment campaign against the president that he is put off by. melissa: vince, thank you so much. >> thank you. connell: another big development today involving the chinese firm huawei. this actually happened over the course of the last hour. very interesting. our colleague liz claman spoke to a ceo of uk based chip designer arm. he told fox business but the company has no choice to comply with a uk government order to cease doing business with huawei's chip division. bring in panel jonathan hoenig,
capitalist pig hedge fund founding member, fox news contributor. lanhee chen hoover institute where he is a research fellow. this is a big deal, jonathan, because it is one of stories developing you can see the squeeze put on huawei, u.s., uk, japan, private sector with lawsuit involving a executive that might be litigated in texas. what is the larger goal for the u.s. and its allies? to put this chinese company completely out of business? if so, what are the ramifications of that? >> seems to be, connell. it affects huawei and trade between china and u.s., which is hundreds of billions of dollars. this tray war was supposed to be quick an easy to win but anything but. reflected in the market almost two to one new 52-week lows against 52-week highs. this is one of a series of issues that the market is complaining about.
connell: lanhee, it could be bigger than a trade war. more is being said over the last week or so, we have two economies instead of long term going same direction, win-win, maybe going completely the opposite direction, kind of this winner-take-all new cold war some are calling it. is it getting that big when you see stories involved with the companies like huawei and some other companies we should point out? >> it appears we're headed for a zero-sum game here. look, the challenges with china go beyond economic challenges. that is the major problem. huawei is not so much a economic problem. it is a national security challenge. we've known for many years huawei has the ability to put in technology that could compromise national security here in the united states and also in our allied countries like the uk. so the geopolitical questions really are dominating here. those are the ones that overhang this entire trade negotiation. it is not just about coming to an agreement stopping china's industrial poll sift it is also
geopolitical question how do we halt china's aggressive actions in the region and in the asia-pacific region and potential issues causes us from a national security perspective. connell: marrying that, divorcing that, however you want to phrase it from all the economic issues. rollout of 5g, thanks. jonathan, lanhee, you are back later in the hour. melissa: a mixed bag for retail today as the industry braces for the impact of tariffs. let's go to jackie deangelis at the new york stock exchange for more on that. what was it like down there today? reporter: good afternoon, to you, melissa. 100 point drop all said and done on the dow. retail was the big news. target was big mover to the upside. 10% beat on earnings. investors like that. that says that target is competing well with the likes of amazon and the other internet forces out there. then of course there was lowe's. it was an 11-cent miss on earnings and that was a problem
for the stock. lowe's slashing the full-year guidance which worried investors. the ceo said there were higher costs, that was an issue. remember this ceo came on board a little less than a year ago. this is definitely a company in transition. i want to end on qualcomm. that stock took a big hit today. after a u.s. judge ruled in favor of the ftc. it was a antitrust suit filed in 2017 saying that qualcomm used anti-competitive practices in essence to maintain a monopoly on semiconductor chips it used in cell phones, guys. melissa: jackie, thank you. connell: on top of all these things we've talked about already, michael avenatti worked his way back into the news hit with new federal charges. the celebrity attorney charged with stealing money from a former client you may recognize by name, stormy daniels. deirdre bolton in the newsroom with more. reporter: hey, connell. escalating legal woes for this
combative lawyer, michael avenatti. the new charges, i go down the list, aggravated identity theft, engaging in a scheme to defraud a former client and extortion charges, related to avenatti's alleged attempt to extort $20 million from nike. he threatened to expose that nike illegally paid high school basketball players unless the company paid him millions. stormy daniels is not in the document but details make it clear that she is the client in the case. stormy daniels is a porn film star that she represented against president trump. he diverted $300,000 that daniels was supposed to get for a book deal. they say he used money for personal and business expenses and only half of that money was paid back according to
prosecutors. avenatti denied all allegations. he has been tweeting a lot ever since the news broke. here are two of the tweets he tweeted about the book deal. i will read them to you now. i was entitled to any monies retained per my agreement with the client. my agreement for representation and compensation included a percentage of any book proceeds. no monies relating to ms. daniels were ever misappropriated or mishandled. she received millions of dollars worth of legal services. we spent huge sums in expenses. she directly paid only $100 for all that she received. i look forward to a jury hearing the evidence. avenatti as we know faces charges in los angeles including a multicounty federal indictment, alleging that he stole millions of dollars from clients, didn't pay tax, committed fraud and lied during bankruptcy proceedings. on all the charges he says he is innocent. a tweet from the past 60 minutes. i look forward to a jury hearing all the evidence and passing judgement on my conduct.
at no time was any money misappropriated or mishandled. i will be fully exonerated once email, contracts, text messages and documents are presented. he in another tweet thanked his supporters what he considers their kind words in support. he has a long road ahead, connell. connell: i would say so. what a run it has been for him. deirdre, thank you. reporter: sure. melissa: treasury secretary steve mnuchin testifying on capitol hill today. why he says we have gone backwards when it comes to china trade. we are live in washington with the headlines. connell: plus how are farmers in the heartland dealing with the trade dispute? fox business put a survey out, asked hundreds of farmers what they think. we'll have results and reaction from senator john hoeven joins us later in the hour. melissa: hail, flash floods, tornadoes, a handful of states bracing for even more severe weather. we're tracking the path of the storm later this hour. ♪
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back. he says sometimes that means that's the way you move forward but until now he says the fourth round of tariffs will be ready against china in the next 30 to 45 days but he does say he is keeping his eye on how those tariffs will affect prices for consumers saying he spoke with walmart cfo bret biggs yesterday about possible price hikes. mnuchin says they are preparing a package to bail out farmers being hit hard by china's agricultural tariffs. he says once the usmca is passed it will free up more options for trade with mexico and canada. he thinks that also will be a benefit to farmers. i asked the secretary why they are interesting in bailing out one industry like agriculture but not others like tech? >> we're going to have a 301 process and look at exceptions that impact certain consumers. people talked about diapers and other things that they can't be sourced other ways.
we're going to be very careful on this. but the farmers are being personally retaliated for political reasons. reporter: mnuchin says he talks with 100 ceos around the country keeping track what they can source from other countries other than china and ones they can't. they will target those that hurt families with fixed next or target kids. he talked about working with infrastructure with democrats. he said yesterday they did make progress although there was no deal. >> we had productive conversations yesterday with the big four on spending and on debt limit. it's a big priority of mine to make sure that the debt limit is raised. if we can get an appropriate caps deal the president said he would consider that. if not, we'll go down the path of a cr. reporter: a lot of topics were talked about including trump's tax returns. mnuchin says today he thinks handing it over would be
unlawful. connell. connell: good reporting from capitol hill. melissa. melissa: lanhee chen is back with us now. you know, if you base on what you heard from secretary mnuchin about the deals with china and how that's going or the non-deal i'm starting to wonder if maybe the administration's plan is not do a deal with china? they're trying to separate this relationship where we're buying around the world technology that might be embedded with spyware? they're stealing ip from companies that go and do business there and they're buying up debt all around the world including ours, to make sure they have a foothold in every community. maybe president trump decided to wane america off china and this is how he is doing it? is that possible? >> well i think that is an excellent thought. i think it is certainly possible what the president is trying to do is decouple the relationship generally. i didn't think that was going to be the approach quite frankly coming into this year. i thought the administration wanted to pursue a deal but
there are some bridges we may not cross. we frankly may never be able to get china at that enforce a deal that would protect american intellectual property. we may never stop them giving huge subsidies to native industry that make it impossible for our companies to compete. we may never stop them from joint ventures for our companies to participate in the chinese economy. there are many things that made a goods, long term, doable deal with china difficult. none of those factors have changed. the chinese have not indicate ad willingness to play ball. melissa: as things are uncertain everybody is going to their plan b, implementing their workaround, moving factories, buying from other sources, selling to other people. it will be having to watch. lanhee, thanks for joining us. we appreciate it. connell: one more item about china. chip designer arm would stop doing business from huawei's chip-based business. that uk-based company arm but
complying with a u.s. government order. i want to make that clear. speaks to the wider crackdown on chinese companies and huawei in particular. meantime expecting a solid growth rate this year. edward lawrence had an excellent interview speaking with the federal reserve bank of dallas robert kaplan. it was exclusive to fox business. edward joins us now. what can you tell us about that? reporter: dallas president, dallas federal reserve president robert kaplan is happy where the federal funds rate is right now. he says he is patient on any further rate hikes. as far as rate cut he says that could create unnecessary excess in the economy. he likes things where they are at this moment. with all the hurdles of the tariffs he still thinks the economy will grow 2.25 to 2.5%. on inflation it still may be under that 2% target by the end of the year. >> to some extent globalization or are having muting effect on inflation. we don't think that is transitory. we think that's here to stay.
reporter: kaplan says removing the steel and aluminum tariffs on both canada and mexico, opening the door for the passage or ratification of usmca is good for the long term economy. he says on china the tariffs are not being felt yet as inflation pressures are muted. back to you, connell. >> interesting stuff. edward lawrence live in dallas today. melissa: a froing divide between the left and the right. how the ongoing war in washington could impact the 2020 election. b-52 bombers patrolling the middle east, deployed to deter iran. we have the latest on the fallout next. ♪
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at people that have just said that i was doing a coverup. i don't do coverups. connell: what a day. are all hopes for bipartisanship doomed after all this, and if so what would that mean for 2020? that is the prism which we look through at this stage. we are joined by elizabeth heart ring ton, rnc spokesperson and it is kind of funny, liz, yesterday on the show, may have been our lead story, we were talking about oh, there are signs of bipartisanship, debt ceiling deal, this, that, obviously we have today. let me start with whether or not you think that is the takeaway, up until 2020 we're in do-nothing situation in the congress? >> well, unfortunately that is the position the democrats are taking. you can't, nancy pelosi can't say i'm coming over in a bipartisan spirit and then accuse the president again of baseless crimes. i mean we've been living for two years with their phony collusion
conspiracy theory and now we're dealing with a phony coverup of the nonexistent collusion. connell: does this hurt the president politically, do you think? as you look at it going into a re-election campaign, or might the opposite be true, his voters rally around him? what do you think the ramifications of the environment are? >> it hurts the democrats because the fact is the president is the only person offering solutions on infrastructure, on the border crisis, we have a broken border system. democrats said five months ago open up the government. we have ideas on border security. we'll negotiate. where are they? they are not at the table. they could fix look holes in about five minutes. they refuse to do that. they refuse to offer anything on infrastructure as well because nancy pelosi is trying to have it both ways. on one hand she is throwing an impeachment bone to her rabid radical base and on the other she is showing up at the white house, let's do a deal.
this is not how it works. connell: the thinking, she might push back against the base of the democratic party, avoid the conversation. that is no longer the truth. if you look at the campaign how it developed, this is interesting, most establishment figure out there for the democrats is the frond runner in former vice president, right in joe biden. we do have data biden doing pretty well, even pretty wellhead to head with president trump. does that worry you if you look how things are setting up, that the president might have work to do in pennsylvania, michigan, or wisconsin? >> i don't think so. joe biden has a record. i don't think any of us are nostalgic for the obama-biden economy, going back to stagnant wage growth, plummeting wages in fact, lost manufacturing jobs. we're not nostalgic for any of those numbers. at the same time, joe biden is running with two dozen comrades who are moving far to the left. connell: he is still doing all right? >> he is calling for
taxpayer-funded abortion now. he is calling for repeal of the hyde amendment. he is calling for a climate change revolution. he is adopting these radical ideas that his, the base of the democratic party sadly now -- connell: i get it. i'm saying numbers still show he is doing okay. i'm wondering what you make of that, how much of a threat that might be? >> he has a lot of name recognition. connell: yeah. >> also these polls are oversampling democrats. the "fox news poll" showed 8% more democrats were asked the question. so -- connell: state like pennsylvania, there are just are more democrats. that is sometimes what you end up with. keep those people that swung to his side, right? >> we're not worried at all. he has a record in pennsylvania in particular. we have record low unemployment in pennsylvania. that never happened under joe biden and barack obama. they had a high of 8.8% unemployment. we have manufacturing actually coming back to pennsylvania. we're looking very strong in
those states. connell: okay. continue to follow that, good to see you, liz. thank you for coming on, we appreciate it. melissa: hit hard by the trade war, u.s. farmers are losing confidence in the negotiations between the u.s. and china. so what is behind that sentiment? we're on the ground at a farm in illinois? that's next. connell: plus the president preparing to announce another round of aid for farmers. is it the right thing to do? will it be enough? we'll talk about it all with republican senator john hoeven. he is working to secure additional assistance as the u.s. works to strike a deal. >> boom triggered by ipos. how some millionaires are cashing in on san francisco real estate. we're live in california. that's coming up. ♪ it's either the assurance of a 165-point certification proces.
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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ melissa: some relief on the way to the heartland. a source telling our own blake burman that the trump administration will roll out the second aid package for farmers tomorrow. jeff flock is live in fairmont, illinois. what are farmers out there telling you? reporter: you know, it's funny we were on a hog farm last week. by the way you're looking at a planter, this is a soybean planter by the way, if you want to know how that works, the seeds come rolling down there. this is what soybean seeds look like. they're red. those fall into the field and in little areas these make a furrow, that is how it works. we're at the hog farm last week
and we talked to one farmer a lot of viewers, i got stuff on twitter, what do all the farmers think? number one i have the president of the illinois soybeans growers association, uncommon to see a woman perhaps running the soybeans growers association but you're it. >> yeah. it is not a common thing but our board, they felt that i was fully capable and i have enjoyed every minute of it. there is not very many of us women farmers out there but there is a few of us out there kick it up with the boys. reporter: i've seen you do it all day. it has been fun except for this year with the tariffs. we did a poll, i shouldn't say it, we did a survey as we look at your field out there and if you put the numbers up, a bunch of people are losing confidence, 60% said this may actually affect how they vote in the election. we know farmers supported president trump largely. what do you think? >> well it is hard to tell how anybody will really vote in
2020. there is still a lot of time in between the elections and still a lot of time that can happen for these tariffs to be resolved or rescinded or some compromise to be reached between our country and china so it is hard to tell. as this continues to linger out, farmers are getting more and more frustrated. reporter: losing money. >> we're losing money. we can't continue to lose money for two plus years now. reporter: leave you with just a comment. we did a survey, thought would give us 20, 30 farmers giving us feedback. we have 700 responses. here is one of what one farmer said. the chinese will drag this out. i look for them to push president trump into election year showdown to resolve the trade war. one other one said, leave you with this one, keep the pressure the chinese, get this deal done before we all go broke. farmers have been taking it. they have been really bearing the brunt of this. tomorrow maybe they get relief from the president. he seems to feel their pain, as
it were. we'll see. melissa: direct retaliation, jeff. thank you. connell: we're joined by republican senator john hoeven from the state of north dakota. he is on the agriculture, nutrition forestry committee. this is issue you've done a lot of work on. talking about jeff's report from farmers in the state of illinois. are you hearing similar things in north dakota people you're talking to that maybe patience is wearing a little thin? >> i talk to farmers and ranchers across the country. it's a tough time for them in agriculture, no question about it. they very much want better trade deals with china, japan, want the usmca approved with canada and mexico. they want to get there so we're working on assistance. connell: tell us about that. we hear there is coming out tomorrow. a package last year, 12 billion. will this be 15 billion? what do you know about it? >> the white house will make that announcement. obviously i've been working on
it, but that is the range that the president has indicated so far. we have a meeting as you know tomorrow with farmers. we've been hard at work. it will build what we did in the first round but add some things as well, to try to improve what we did. connell: such as? >> we're looking at a number of areas. not only the market facilitation payment, doing more to help with trade assistance to open new markets and again as the president has said purchases for distribution and kind of thing. connell: will this go on for a while, will this drag on for a while, is that how you see it? >> we hoped the administration would get a agreement in principle with china week before last. we hoped we wouldn't need a second round. they're delaying negotiations and targeting our farmers. this not only assisting farmers but showing the chinese we'll stick with this, determined to get better trade agreements. connell: ask you a philosophical or idealogical question, as republican senator is it
difficult to policy where you have higher taxes put in place which is what tariffs are, retaliation for that hurts people in this country, then a bailout which is essentially has been is put in place to help those people who are hurt? what would you say if it was a democratic administration doing that kind of thing? >> we don't want tariffs. we want free and fair trade. our farmers, every single day go out there produce the highest quality, lowest cost food supply in the world that benefits every single american every single day. and so at the end of the day they can compete with anybody. connell: right. >> this is about getting rid of tariffs and trade barriers, enabling our farmers -- connell: are you confident that will happen or are things permanently changed in terms how the u.s. and china do business? >> connell i think it will happen. the tough thing getting through the negotiation and getting there. connell: you're right. it has been tough. thank you for coming on as always. >> thank you. melissa: a show of force. u.s. jets flying over the persian gulf amid heightened
tensions with iran as the country claims they do not want to go to war with the u.s. where do we go from here? plus, bracing for dangerous weather. more tornadoes slamming the plains as twisters touch down in oklahoma. we're tracking the storm next. ♪ long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ play it cool and escape heartburn fast with new tums chewy bites cooling sensation.
connell: boy, flooding to tornadoes, severe storms expected throughout the country following devastation we've seen throughout oklahoma this week. adam klotz tracking storms from the weather center. adam? >> hey, there. unfortunately we're still seeing more storms moving across middle of country in areas that have been hit. these are the storm reports over the last 72 hours. you see the new line from northern central texas running again into at least portions of illinois are spots paying attention to. it is not just the big tornadoes and strong winds t has been pretty heavy rain pretty widespread from northern oklahoma running up into kansas. anywhere from five it 10 inches of rain. no surprise we've seen a lot of flooding. watches around warnings across the entire region. still nowhere for the water to go. as it works into the mississippi, rivers and tributaries dealing with flood warnings as more water is likely
on the way, not just for this system but more systems funneling in here the next couple days. this is your forecast for today. you do see so far we haven't seen a whole lot of activity, but there is the future time stamp. this is popping up within the next several hours. we start to see big thunderstorms late they are evening running into tomorrow. possibly a couple of tornadoes there, connell. just more heavy rain on areas where they don't need it. connell: jeff was talking about the tariffs. this is also tough for these farmers, the weather. adam, thank you. melissa: the u.s. air force releasing new video and photos showing b-52 bombers flying a patrol alongside f-35 fighter jets as patrick shanihan, acting defense secretary says the threat of an iranian attack on americans was on hold after u.s. increased military presence. let's bring in chris harmer. a retired navy commander. tell us what all of that means, what i just read there? what do you take from that? >> pleasure to be with you. thanks for having me.
regarding messaging going on here what is happening the u.s. department of defense is sending a highly visible message to the iranian regime letting them know we repositioned forces into the persian gulf abraham lincoln strike group. f-35s, also showing flying close formation with qatari aircraft. that is signal with the iranians that the relationship with the gulf cooperation council allies is strong. iran is essentially isolated in persian gulf. we're simply doing a show of force as deterrence to deter further malfeasance on their part. melissa: a lot on the other side of the aisle questioning that that last thing you said, that it is a show of force for deterrent sake. they say there is provocation. there seems to be no plan an that really, you know, we're turning up the temperature on our way to war. how woo would you respond to th? >> i try to stay away as political analysis as much as
possible but inevitably the real conversation the failure here is the failure by obama administration, in a sense they engaged iranian regime on the false premise there are moderates within the iranian regime they could negotiate. there are no moderates in the iranian regime. there are moderates out there. they are completely isolated from the government and isolated from the economy. the hard-liners are in control, always will be in control. this is hardly messaging prelude to war. this is reality the islamic republic of iran is the world's largest state sponsor of terror. what they have done over the past 40 years is continuous stripping of terrorist attacks. from 2003 to 2011 they killed 600 americans in iraq. that is not remotely arguable. melissa: given all that you just said, would it make more sense to take the obama approach and not, even if they are, you know, hard-liners and they do want to do away with america, israel, the west and everyone else --
>> right. melissa: does it make sense to provoke someone like that, or do you want to sort of, u know, placate them, try to make peace over time? >> that is a valid observation, valid point of view but winston churchill famously said, talk talk is always better than war war. if the counterparty is not negotiating in good faith there is no point in concessions. with reference to the iranian nuclear plan for the most part they have been in compliance wit. reality they have used relief of sanctions over past few years to increase the sponsorrism of terrorism. i don't think there is any reason to consider these hard-liners inside of the iranian regime other than total control of the iranian state and their policy. melissa: race harmer glad to have you back. good to see you. >> good to be here. connell: tense times. we have ipos boosted real estate market in san francisco as you expect. these numbers are crazy, single family homes going five million plus. we'll take you after the break
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connell: the ipo wave is sparking a real estate wave. the bay area and its newly minted millionaires hunting for new apartments thanks to the boom we have seen. robert gray out in san francisco with the details on this story. robert? >> hey, connell, that's right. we did see sales soften a built earlier this year -- soften a bit earlier this year, but as you mentioned this wave of ipo san francisco based companies expected to create some 5,000 new millionaires, combine that with lower interest rates expect to see the softening trend reverse itself. the median sales price already up some 50% in the past five years to about 1.4 million bucks. and some experts see it going
even higher. >> over the next five years, i expect rent prices and home prices to appreciate at least 50%. 100% is also plausible. and we're looking at a much more expensive city. >> and speaking of much more expensive city, you think long island is a bit crazy. take a look across the street from here, this shack, a mere 2 1/2 million dollars teardown. we had access to go inside and take a look out back. this gives new meaning to the term open house. it's wide open in the back. the reason it is so valuable the realtor who has the listing telling us that basically you have to cut through the red tape. you have the right to tear it down and plans already approved for 4 1/2 million dollars total package send it above the neighbors with full view, near the freeway to commute and also near that new 1 billion dollars chase center where steph curry and the warriors play. she said maybe even one of the
warriors would buy it. you might have to have that salary to do so. connell: exactly right. sign up kevin durant if he stays for that one. interesting story. now robert gray. connell: a nice parking spot in front there too. -- melissa: a nice parking spot in front there too. americans have suffered a workout hangover that has forced them to stay inside all day. the post workout pain also causing more than 1 in 4 active americans to skip out on work after that. connell: 1 in 4 skip out on work? that seems like -- melissa: this is why i don't work out. connell: that's a very good reason. melissa: of the apparent danger and because i'm so dedicated to being here with you and also because i want to earn enough money to buy that house that's falling down. connell: 2 1/2 million for a tear down. melissa: unbelievable. i feel like there's a catch in there or they would have done that and built it and sold it
for that much more. there's something we're not seeing. regardless, it is insane. connell: we had a lot of crazy stories today. the dow down 101 points. thanks for joining us today and every day. melissa: that does it for us. bulls & bears starts right now. i walked into the room and i told senator schumer, speaker pelosi, i want to do infrastructure. i want to do it more than you want to do it. but you know what? you can't do it under these circumstances. so get these phony investigations over with. >> investigates or legislates, that's the ultimatum president trump is giving to democrats after he blasted house speaker pelosi for accusing him of engaging in a cover-up over congressional probes. that's just moments before a scheduled meeting with them on infrastructure. this is bulls &