tv Bulls Bears FOX Business August 7, 2019 5:00pm-6:00pm EDT
way off session lows. >> just been another average day on wall street, wild. melissa: that does it for us here. >> that does it for us. bulls & bears starts right now. david: breaking news, president trump arriving in el paso, texas, just moments ago. the president and first lady are now on their way to the university medical center of el paso, where they will be visiting with the victims of last weekend's mass shooting and thanking emergency workers for all their heroic actions. it follows a similar visit earlier today in dayton, ohio, to the scene of a second mass shooting. we're going to have a live report from el paso very shortly coming up. but first, take a look at this. markets clawing back today after taking an initial nose dive, plum meting nearly 600 points in early morning trading, before recovering almost all of that to close down just 22 points on the dow. the s&p 500 and the nasdaq
actually ending the day in the green, but are we out of the woods yet? welcome, everybody. this is bulls & bears. thank you for joining us. i'm david asman. joining me on the panel today is robert wolf, susan lee, scott martin, and my man steve forbes is with us as well. fears of a global recession driving investors to the safety of gold, which was way up today, soaring to its highest level since september 2013. bonds with a ten year treasury yield hitting lowest level since october 2016. at least one bond analyst says it could actually go negative after all is said and done. but is this all just an overreaction, or are we really on the brink of some kind of financial disaster? >> we're not on the brink, david, but the markets are worried that this trade war we're having with china may not be resolved the way they thought it would a few months ago. what would be the implications of that? creates more uncertainty. what's going to happen with the tariffs with autos and auto
parts from europe? that could throw that continent into a recession. so people are hedging. they think something will be done with china, that it won't go over the precipice, but you have to hedge a bit. david: certainly hedging in gold, no doubt. >> and by the way, gold going up like that is fears that the federal reserve is going to overreact and do what it did in the early last part of the decade, and weaken the dollar, bad stuff. >> back in 2008, helicopter ben, printing money, i would say the last few sessions have actually been encouraging since you did see the stabilization yesterday. today we came back from 500 points down for the dow to close almost in positive territory for the dow. so i think there's some positives here. hedge funds have been telling me they have been closing out their shorts with the declines we have seen the last few weeks and guess what? if that rotates into cash, they find value out of their stocks. they have been going to buy. >> there certainly could be a recession outside of the u.s. i mean, whether you look at the
slowing in china, in japan, the up coming situation in brexit, the disastrous stuff going on in europe, pan europe, especially around what's happening with germany and the less trade they are doing, but the real problem is the u.s. the largest economy has bad policies today. this tariff and trade war that we have been living with now for a year has only gotten worse. everyone's been predicting oh no, this was just idle threats but now we're seeing it is much more than idle threats. no one is happy about it. we're seeing business investment okay getting smoked right now. and without business investment, and without capital investment, therefore, it starts impacting everything else. >> okay. i wouldn't say business investment is getting smoked. it is coming off the highs which were created from the tax cuts and other business-friendly policies, but to say that things are going bad with china, i mean, they are getting bad with china because, you know, obama and bush and even back to even some of the reagan years, we let china get away with murder on
us. and so that's why things are coming to roost with china. i don't think it's because of exactly what's happened in the last 18 months. it's because of the last 18 years before that that they got away with everything where we have to put their feet to the fire, get rid of the ip theft, currency manipulation, technology transfer -- >> agree with that, but there is no policy. there was a policy called tpp -- >> what? >> which would have had -- what? do you not know what it stands for. >> i'm sure you will. i said that before you said that, but you are right, robert, that's the one point that trump might have misstepped on because we did need to align with our allies. >> let me know when you want to finish. >> go ahead. i'm waiting. >> we could have had trading with 60% of the country, of the world, with the 11 other countries outside of china. that would have made us much stronger. that would have actually made us work collectively to really
challenge the ip, to challenge the theft that's taking place because we would have done it with all the other countries around us, new zealand, australia, japan, south korea, by us leaving that, it gave us a bilateral policy that we're trying -- david: hold on, guys. if you want to talk bad policy, you don't have to look any further than europe. they're the ones that are refusing to make it easy for businesses to do business. they're the ones who -- >> agree with that. >> -- who aren't lowering their taxes or regulations the way we have done in the u.s. and that's led to a boom in the united states. they are the ones with the negative interest rates as well, steve. >> which is a disaster. monetary policy cannot overcome bad fiscal policy, bad tax policy, bad regulatory policy and the europeans are a living example of it. in dealing with china abuses, there's no question their bad behavior, but the question is what is the most effective way to do it? i don't think putting sales taxes on american business and american consumers, yeah, china gets hurt more but we get hurt too. and that's not the way to deal
with their abuses. go after specific companies as we're doing today with huawei and others. go after the bad actors. make them pay the price. >> i agree with steve on that wholeheartedly. david: the president is blaming the federal reserve not china for the market's volatility firing off this tweet quote three more central banks cutting rates. our problem is not china. we are stronger than ever. money is pouring in to the u.s. while china is losing companies by the thousands to other countries. proud to admit that their mistake of acting too fast and tightening too much. scott, does he have a point? >> well, i think there's a point given by the markets here, david. i mean, i think the ultimate judge here is yes the economic data which has been weak to strong, weak to strong over the last 6 to 12 months depending on how you look at it. here's the thing, open market interest rates which is rates on the two-year bond, the five-year bond, the 10, the 30, are all plummeting in the united states. that's telling the feed that something is afoot here. the fact we had an interest rate
hike which was a total mistake in december, that was bad. only get 25 basis points and here we are in august by now, this year, so to me the fed is behind the curve and they need to be careful here because maybe trump can send them i don't know a few care bears in the mail to get them on his side. they need to listen to the president and realize at least the open market is telling them that they need to cut rates fast and more furiously. david: robert? >> i would disagree. do you hear me? david: yeah, go ahead. >> i would disagree. i agree with scott that we should have done nothing in december and now all we did was reverse december. with respect to the president's, you know, statement, we're the strongest place. we're getting stronger, and then he's arguing to cut rates. that doesn't really work. okay. the idea that we need to cut rates right now, one, as we said at the beginning, i don't think the u.s. is going into a recession. i think there are problems outside of the u.s., but i think we're chugging along at 2 1/2%, and it feels like we're going to continue to chug along. i think what we need to do is
stop with the whole tariff thing to steve's point, to steve's point, because eventually that just a tax on us, and it will reverse the tax reform that he did a year and a half ago. david: susan, you are looking at bond rates. a lot of people are. the longer the bond, the bigger the interest rate is supposed to be. it is exactly the reverse now. ten-year is yielding 1.7. a three-month is yielding 2.03. that's the inversion is everybody talking about and that supposedly indicates bad news ahead. >> no, no, you usually look to the two year versus -- david: you can do either one. >> yeah, but it is the one most people track, and more indicative of a recession. david: the point is we have yield inversions that usually means we have bad news coming ahead that we have to prevent. >> yes, i would agree with that. there has been a lot of money rotating into the u.s. bonds. where else are you going to find places to put your money to make
cash basically, to get some interest. there's so much money pouring into long data u.s. treasuries the biggest five day rotation we have seen in eight years. david: all right. go ahead, steve. >> i was going to say, it is nice to have the money, but you have to put it to work. that's why we need to get these trade disputes out of the way and investing. david: yep. president trump traveling to dayton, ohio, and el paso, texas today paying respects to the victims' families and first responders of two mass shootings in this past weekend. we are live in el paso, coming next. plus, growing backlash against texas congressman joaquin castro after he posted the names and employers of trump donors in the san antonio area on twitter saying they are fuelling hate. now, he says he isn't trying to target anyone, but isn't that exactly what he's doing? we'll talk about that, coming next.
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so you can save big. get a no-fee personal loan up to $100k. david: president trump is now in el paso, texas, paying his respects the one of the communities rocked by mass shootings over the past weekend. he visited dayton, earlier. fox news's garrett tenney is on the ground in el paso. garrett, what's the scene there? >> well, david, i can tell you, president trump and the first lady just arrived at the university medical center of el paso, where nine victims from saturday's shooting are still being treated. from there he will head to a joint operation center where he will be able to meet with some city officials as well as first responders who were among the first on the scene here on saturday, when those shots rang out. at the same time, though, downtown, more than 700 people are attending a protest to let the president know that they wish he didn't come. according to organizers, the el paso strong march is to take a
stand against white supremacy and terroristic gun violence. several democrats are participating in that march including beto o'rourke, who has been outspoken that the president should not be coming to el paso. >> has sought to make this country afraid of us, has sought to keep us down. we will not allow him to do that. we will proudly stand together for one another and for this country, and that's what i'm doing with my community right now. >> david, it is important to note, though, that not everyone in this community is against the president being here. we've heard from folks, including some family members of the victims who say they want the president to be here, even if they disagree with some of his rhetoric about immigrants and the hispanic community, they say as commander-in-chief, it is his duty to be here in the aftermath of a tragedy like this mass shooting. david? david: great point, garrett, thank you very much. and on the heels of charges made against president trump, that his rhetoric was somehow
inspiring crazed gunman, texas congressman joaquin castro tweeting out this, a list of names and employers of prominent trump donors in the san antonio, texas area. the congressman defending his tweet earlier today. >> you're giving money for somebody that's going after a community and people have gotten killed because of that. unless you support the white nationalism and the racism that donald trump is paying for and fuelling, then i hope that you as a person of good conscience will think twice about contributing to his campaign. david: so the congressman saying he is not calling for a boycott of those businesses or for the donors to be targeted, but isn't that exactly what he's doing? >> yeah, i would say this isn't a big deal because all of this is public. if you look at the fec reporting which i think thousands of people have looked at who i have given to, it is a public document. it is a federal election committee. everything is filed.
everybody knows who gave to who. it is common that people are putting out who is giving to who. i mean, do i wish he didn't tweet it? yes. do i wish people didn't put my stuff out? yes. but when we make a donation, usually we stand up and we're proud of the donations we make. so i doubt this is a big deal. it seems to me -- >> it is a big deal, and it is symptomatic of the violent left. what he's calling for is to intimidate these donors through what he did today, for harassment, even violence. you see what's happened to senator o'connell's home in kentucky, where it has violent protesters. he's highlighting these people specifically to make them a target. he's holding up the names. he's holding up the names to have them targeted and to be intimidated and to tell others if you give to trump, we're coming after you. we're coming after you at your place of work. we're coming after you at your home. bad stuff. >> i would agree with steve
scalise and people should not be targeted for their political views, especially with this -- this is dangerous and people could get hurt. i don't think people should be harassed for those political leanings. david: they didn't have the addresses, but they did have the places of business and you could easily find out what that address is. >> yeah. you can find out, david. >> no one is saying -- that's all i'm saying. >> that's what he was suggesting. the tenor i hate to say it robert was clear as to hey here are the people that are against us, quote unquote, and therefore, you know -- >> i wish he didn't do it. but i just said it was public information. >> i appreciate you admitting that. i will tell you something else what this reminds me of real quick. remember home depot a few months ago when bernie marcus a co founder of home depot had left home depot for what, 15, 20 years they were trying to get a boycott, the left was trying to get a boycott of home depot because marcus had supported trump and he wasn't involved with home depot in the last 20 years. the left is trying to lineage
people -- david: it is a form of public shaming. >> guys, it's been on both sides, come on, now. >> the rhetoric with which he surrounded it, that you are against a community. that's demagoguing stuff, inviting violence, bad. >> people should be able to choose whether they do business with these people or not. >> a fundraiser for president here in new york, here in new york city, and he's the owner of sole cycle and also equinox, there are now calls even by celebrities including chrissy teigen to boycott sole cycle and equinox. i'm not stopping my spinning classes i will tell you that. >> i may join you. >> robert might want to ride the bike next to me. >> robert go ahead. >> when my name was coming out on wikileaks, i didn't hear you guys yelling and screaming. david: yes, we were always defending you robert. we always defend you except when you are wrong. >> i know. i'm with ya. >> this is a public shaming and
the people on this list are having to defend themselves coming out with the public statements saying we are not racist. >> i wish it didn't happen. david: when you have to say i'm not a racist, you know that person has been shamed. samsung unveiling two new phones in the last hour. should apple be worried? we've got all of the details and how that stacked up against the iphone coming next. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.
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the note 10 plus. susan you have the details. >> just a few minutes we had the microsoft ceo on stage. he was a special surprise guest, and this is a great partnership. microsoft and samsung partnering to bridge android and windows closer together, especially in a smart phone environment, in a smart phone market worth a trillion dollars. we see seven quarters of sliding sales and people are not refreshing and upgrading as much as they used to, so selling these four figure phones is pretty tough in this environment. and that's why you have seen that reflected also in apple and samsung earnings. this galaxy note, first time they have offered two with 5g capability. david: it's got a stylus which you like, i don't. >> i like. you don't. it has augmented reality and handwriting to tech. there's a lot to like but still pretty pricey. david: does apple have to worry about samsung's new phone? >> yeah, i think they do, david. in fact we started seeing clues of this some quarters ago when
apple stopped in their earnings report talking about iphone sales and started showing how they were going to more services which i think was smart. here's the thing, if you look at the technology itself, i mean i don't know how many of you have older iphone models. i have an iphone 7 right here which i love the size of. >> oh my. >> but the performance stinks. this is a cool phone, believe me, i think. here's the thing, it is not a well-performing phone. now i'm being forced to upgrade. ios updates have crushed the battery. siri doesn't work very well, i paid a thousand dollars for a new iphone xs phone which i don't even like as much as on the iphone 7 but the battery is dead on it >> the whole thing is it cheap and easy to use? sometimes some of us are very very slow to upgrade. here's my samsung -- david: you have to hold it up, steve. he has an old flip phone. >> it still works. i don't have to worry about my upgrades. for my typing i do the ipad. >> i'm jealous. i'm so jealous. [laughter] >> robert?
>> i saved money. >> i don't know where to go. i can't see steve with a flip phone. i think are we talking about him running for president again? we're going back to school here. [laughter] >> i like that. >> it is clear that i think apple is going to have to do things because their sales have been slow and as scott said, they've been moving towards service, and you know, i think they need to continue to either make the best product or people are going to move to the best product david: scott, you are going to have to get an iphone x, no doubt about it. >> i did. i'm regretting it. that bill -- a thousand dollars for a phone is ridiculous. the quick thing too it got me hooked in the icloud and apple music. they have a lot of people hooked. they don't want to lose that information. david: you need the services that go along with it. 2020 candidates stumping in america's farm belt descending on iowa for the annual iowa state fair. here's a look at elizabeth warren in the hawkeye state now after unveiling her new plan to overhaul the farming economy.
them and done what no other president would do, and it's i will do it again next year, if necessary. this is china announcing what's being called a body blow to farmers, cutting off all imports of u.s. ag products including crops and livestock. here now iowa farm bureau president craig hill joins us. good to see you, craig. do farmers still feel that the president has their backs? >> oh, i think in general, yes. the answer to that is yes. at least in iowa. iowa farmers appreciate the president and the efforts he's made in regulatory relief and a number of other efforts. i would tell you also that tariffs would not have been our first choice. diplomacy, china has been a bad actor, but we would have sought other efforts to correct china's ways than a tariff war. >> craig, have you read the "wall street journal" today? because there's an article today on the front page talking about the 63 billion dollars that the u.s. has brought in from tariffs over the past year, and in that
article, it is interesting, that dollar for dollar, the u.s. government says that each dollar that comes in, via tariffs, will be $1 made available for farm aid in the future. >> well, certainly that doesn't make us feel better as producers. we enjoy the marketplace. we enjoy opportunities to access markets around the world. and we've much rather have that access than to have trade aid. these payments, while we hope they are temporary, are very helpful. they do solve some of our cash needs temporarily. in the future and going forward, we would certainly rather have our markets back. >> craig, i know it's been a tough slide with some of the commodity costs and prices what about the farmland? that's been one thing that's interesting. amidst all the difficulties with the products, it looks like farmland has held its value very well and there's in fact been a lot of leveraging again of that farmland. what do you think about your farmland value in iowa? are you worried about that going
forward too? >> i would have to tell you about 80% of the farmer's balance sheet is farmland ownership. farmland has held high in valuation because of low interest rates. so we've been held up with our balance sheet, but our cash needs have been quite severely strained. and so farmers are running out of cash. they may be forced to sell some land. that's the last thing they want to do. some have. but the balance sheet has been held stable as a result of high land prices. >> craig, i appreciate that you're being clear that tariffs are not a policy that have been, you know, applauded by the farmers at all and certainly it's not something that any farmer want is a bailout. they want to be in a normalized market. where do you think the next six months to a year is going to be for you guys as an industry?
>> well, i think a very dark cloud hangs over particularly iowa. iowa's the second most -- excuse me, export dependent state in the country. and in terms of soybeans, china was purchasing about 60% of the world's global soy trade. 30% of that came from america, and iowa is either number one or number two year to year in soybean production. so we have been impacted severely. we will have to curtail many of our acres of soybeans and look for other crops. our income is going to be down, and it has been down for many many years. so we need market opportunities. china, the pacific rim when you think about the billions of people that live throughout asia, that market opportunity was essential for us. david: liz warren 2020 candidate is meeting with farmers right now in pacific junction iowa
after unveiling a sweeping overhaul of farm policy. she's plo posing to -- proposing to break up big corporate farms, pay out farmers what she calls fair prices, reduce overproduction, encourage environmental conservation, it goes on. will her plan appeal to farmers there? >> when you think about it, agriculture is probably america's most essential industry. we are an independent lot in nature. we believe in the family farm ownership and control, and to turn this over to government, for government to control our farms i think is somewhat of ridiculous idea. we have been very very successful in the past. we want to continue that success as the envy of the world in terms of production, in terms of our agriculture. affordability, predictability, and our efforts, the promise of
feeding portions of the rest of the world with that production. >> senator warren is going back to the 1930s where misbegotten trade policies made us temporarily an importer of food because of slashes in production. so you are right, the government should stay out. how good are the balance sheets of farmers? is the debt low? or did some of them become overleveraged because of the cheap money that was out there? >> yeah. well, debt is increasing. and again, our cash situation is very low. the balance sheet, though, looks fairly stable, and that's dependent again, like i said, on interest rates. if the interest rates would begin to climb, things would change rapidly. there's very few parcels of land for sale and many times when those parcels do move, it's from family to family member or the neighboring farmer that may be has a little better position. so very few land sales right
now. but if with the rise in interest rates, it would be very concerning. we could be turned what we had in the situation back in the 80s. david: craig hill, we love to have you on. please come back. i love the way you talk, by the way. criticizing somebody by saying it is somewhat of a ridiculous deal. [laughter] david: you've got the iowa way of talking. we appreciate that here. good to see you. thanks a million >> thank you. david: google getting hit from both sides of the political aisle over accusations of 2020 election interfeerns. should the government investigate google before it is too late? we'll ask judge andrew napolitano coming next. >> we're suing google really because of the power these big tech monopolies have over influencing our public discourse, freedom of speech and our fair elections.
election interference. president trump saying he is watching the company, quote, very closely after warnings of anti-conservative bias, from a former google engineer. here's what the engineer told us on bulls & bears yesterday. listen. >> google has a lot of mechanisms for manipulating public opinion. youtube itself deletes about 8 million videos and 3 million channels every three months. they censor conservative content constantly. they are poll pulling -- pulling politician's adds. constantly looking to manipulate the process. >> an advertising account was suspended following a first debate. >> we are suing google really because of the power these big tech monopolies have over influencing our public discourse, our freedom of speech and ultimately our fair elections because if they can do this to me as a sitting member
of congress, running for the highest office of the land, this means they can do it to anyone running for office at any level in this country or any person, if they don't like what you're saying. david: here now is fox news senior judicial analyst judge andrew napolitano. judge, good to see you. is google breaking any laws if it is actively stepping in and trying to tip the electoral scales? >> the short answer is no because the 1st amendment only regulates the government. it doesn't regulate google. they can post whoever's ads or youtubes they want and they can censor whoever's ads or youtubes they want. the remedy is to compete with google. that's easier said than done because of their enormous size. what's their market share? >> 93%. >> north of 90, right, right. only somebody like steve forbes could afford to challenge google. a barrier to entry is extraordinary, but the government can't either directly through legislation or indirectly through the courts be in the business of telling a
private corporation, not owned be i the government what -- not owned by the government what they can say and what they can do with roads. >> in the 19th century railroads were very powerful, many privately held, but the government ended up going in the business of regulating them because of what they thought they were abuses. >> went out of business. >> yep. why is google so brain dead politically? why don't they make sure that if somebody has a complaint, they deal with it. people don't feel discriminating against. >> that's a great observation. it stems from your view of personal freedom, that this should be addressed by the capitalist system not the governmental system. they will lose -- this is why maybe you should start a competitor. they will lose a huge segment of the population that doesn't trust them, whether they're conservatives, libertarians or progressives. google doesn't like what you have to say, they shut you down. you go somewhere else. >> university for crying out loud which brings on right of
center mainstream people giving great five minute lectures and they bar them. absolutely outrageous. >> they are more interested in some sort of a short-term political victory because they have 93% of the market than they are in increasing their market share. >> shortsighted. maybe short the stock. >> i don't think they should be broken up and i don't think we should get involved with whether a company is a monopoly or not because there should be free competition. i think they should be regulated like a media company like fox is or like the new york times why aren't they being regulated as a media company when literally that's what they are? >> the print side of the new york times is not regulated. the cable side of fox is not regulated. the only hook to hang that kind of regulation as the receipt of a federal license. i don't know if google has a federal license for anything that they do, bobby, but you as a businessman should appreciate
the success of this endeavor. i mean -- they don't charge for their services. >> i don't think they should break them up, but i think they should be treated, you know, similarly like, you know, under the fcc or something. >> if they are regarded as a media company, the fear is they can be held responsible for all the content that runs on that site. >> correct, right. >> which is impossible and would give them huge liability. >> wouldn't you fear the government, bobby? >> all the more reason, for google to behave itself and try to be fair. >> go ahead, bob. >> i think it has to be fair, similar to whatever the fcc would oversee. >> one of the basic principles of the free market is you pick your customers. you don't want to deal with somebody, you don't deal with somebody. >> tech has run circles around government for the last several years, if not decades, guys. do you think government is ever going to catch up with google, facebook, twitter? forget it. >> isn't it ridiculous when the government complains about google violating privacy? the government is the biggest
violator of privacy on the planet. david: that's true. >> sadly the fair rules that are being proposed is what we had before we had talk radio. you could not run opinion on any television or -- >> we do have the doj looking into big tech on whether or not they are infringing on anti-trusts. i'm just wondering, judge, before you launch, what grounds would it take? what would the government need to prove before they say yes -- >> you are raising a great point, susan. will the president's personal -- towards the politics of google be manifested in the doj investigation? the doj is not supposed to start investigations without some evidence of criminal wrongdoing. short of that, it's not the doj's business. what could the criminal wrongdoing be? it could be using their sharp elbows to prevent competition. i don't know the extent of the competition. but if they intentionally dry competition up, that is a violation of antitrust laws.
>> fine them again like they fined facebook? what do they do, fine them again like they fined facebook 5 billion dollars? fining them, the stock goes up. >> correct, you are right. their biggest fear is what our dear friend bobby says he doesn't want to see happen, break them up. that is the ultimate weapon that the courts have. they are not going to break up google because they put a few mom and pop people out of business. but if they do see a regular consistent systematic pattern of stifling competition, the courts have a lot of tools available. david: they are also totally tone deaf, judge. that's what steve was saying. now on both sides. tulsi gabbard gave what they considered -- somebody at google considered a bad performance at the debate. then they pulled her ad. maybe that's not precisely what happened, but that's what she's charging happened. now she has both a democrat and a republican president against them. >> who likes google? the democrats don't like them. the republicans don't like them. the libertarians don't like them. >> they have all the market
share. >> where is the 93% coming from? david: judge, thank you very much for being here. >> love you, bobby. david: meanwhile tariffs and tourism, we will have a live report from chicago on how our trade war is now affecting the amount of visitors to the windy city. that's coming next. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.
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david: we've heard about the impact of tariffs on americans, but what about the impact on tourism in general? a new report showing the increase in terrorism is causing fewer people especially people from china to take an international trip to the u.s. we are in chicago and has been following the story from the windy city. hi, grady. >> hey, david. well, apparently this is a pretty popular happy hour spot, but it's also one of the most iconic spots in chicago that
tourists love to go to, but there may be fewer tourists from other countries if this new report you mentioned is correct. the monthly report from the u.s. travel association says international travel to the u.s. is down a little less than 1% in june, and here's why, they say the decline is at least in part because of trade tensions with china. the chinese government put out a travel advisory at the beginning of june, it warns that chinese visitors have been interrogated, interviewed, and subjected to other forms of what it calls harassment by u.s. law enforcement officials. and that's not the only factor. the exchange rate could also be involved. despite a rough past week for the stock market, the u.s. economy still much stronger than economies across the globe, and as a result, the dollar is worth more than other countries' currency. that could discourage travelers from other countries because their money just won't go as far here. let's give you some perspective now. how many visitors actually come from china? well, about 3 million per year, according to the u.s. travel
association. and that makes up 80 million total of international travelers. tourism from china to the u.s., it was already down last year after more than a decade of growth and the u.s. travel association says the number of international travelers could actually keep going down for the rest of the year. david? david: all right, grady, thank you very much. so will the tourists industry now join farmers and retailers in lobbying against the trade war? what do you think? >> you know, david, i appreciate the tourists come here. it is one of the great things about america i think that they enjoy, but forgive me if i'm not going to shed any tears here if it means millennium park in chicago or times square in new york isn't overcrowded to where i can't even step somewhere without getting bumped into or can actually get somewhere in a feasible amount of time. to me, i think it is fine for now that we take a little break. >> yeah, unless you're a vendor. david: yeah. >> but in addition, david, too, what is happening here in terms of the dollar, also affecting it is the fact that the chinese
economy is not doing very well, and when you are not doing very well in the middle class, you are less likely to travel. same thing happening in europe. david: robert, i'm wondering about the effect of the industry itself because, you know, the administration has to listen to these industry reps, and you already have some of the farming industry, some of the retail industry, shouting loud about the trade war, if they combine with tourism, and other industries, might they find a receptive ear somewhere in the administration? >> david, i think you're spot on. i mean, first of all, travel and tourism for our country is viewed as an export. and when people come over, they are buying goods and services. and so in an industry where we want consumers to continue to spend, and we want foreign direct investment, and we want travel and tourism, our dollar policy right now is hurting us. there's a couple things going on. you have one, the chinese people are obviously in a slowing
economy. number two, you have the trade war. number three, with the strong dollar, versus the rest of the world, it makes our goods expensive to come over and buy things. so yes, i think we should look at travel and tourism as a situation that, you know, the strong dollar is not helping. david: gang, thank you very much. well more fly than fishing. you could be looking at the next big fashion craze. we're going to explain this, coming next. lergy pills? flonase relieves your worst symptoms lergy pills? including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. .. to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions
on a scale of one to five? one to five? it's more like five million. there's everything from happy to extremely happy. there's also angry. i'm really angry clive! actually, really angry. thank you. but what if your business could understand what your customers are feeling... and then do something about it. turn problems into opportunities. thanks drone. customers into fanatics change the whole experience. alright who wants to go again? i do! i do! i have a really good feeling about this.
fishing vest, robert? >> no. i am not sure how much more i can add to that. i don't need 15 pockets. i don't really fish, and i would not call myself a trendsetter. david: steve, you had five daughters. did you need all those pockets? >> diapers and bottles is all you need for kids. you don't get me hooked on this. i am not going to pay $600 for a pair of blue jeans that look like it came out of a dumpster. >> robert looks great. it's great we are doing these rare men's wear segments on "bulls and bears." but as the female on the panel i don't find it that attractive.
and i hope the burken stocks go with it out of my sight at least. david: this is one for a woman. this is a real picture. the same idea with all those pockets. >> women make clothes look better. >> that would be good for pick pockets. david: steve? >> i like the way i looked in that graphic. i like that look. i have been look for help fashion-wise. i think you have done it for me. david: these fancy companies can charge $615 -- >> it's demand, david. david: it's something you can probably pick up $40 for ll bean, correct?
that does it for bulls fan bears. thank you for watching. [♪] liz: president trump and the first lady leaving el paso heading back to the white house. we have the latest, and the media bias as well. sean spicer will join us tonight. what a wild day. the dow closed up after rallying back from a nearly 600-point drop. gold surging. we have both side of the argument on the china trade fight. the trend of manufactures leaving china accelerating.