tv Making Money With Charles Payne FOX Business November 20, 2019 2:00pm-3:00pm EST
the clock. it is ticking. wall street wants something to be done before september 15th. when the next round of tariffs are going on. the fed, booming economy. i want the fed minutes from jennifer schoenberger. >> fed firms feel the current level on their benchmark interest rate is appropriate to support the economy. likely to remain so so long as economic data comes in with expectations for modest growth. though they stressed they are not on a preset course for monetary policy charles, that was the major takeaway among internal discussions at fed official policy meetings three weeks ago. interestingly, most officials are in favor for the course they set forward. even more interesting, most officials were actually in favor of cutting rate last meeting by 25 basis points. that is in stark contrast what we've seen over past couple meetings. officials felt they wanted to take out insurance against the downside risks, trade tensions,
slowing global growth. there were a couple of officials felt it was a close call. besides casey, president esther george, and boston's rosengren, appears those two were only dissenters. they were in favor of a rate cut last meeting. several thought cutting rate would better align the fed fund rate with the yield curve. officials saw trade tensions easing somewhat last meeting, they still view trade tensions, slowing global growth as prominent risks to the outlook. they are monitoring those carefully. they expect to continue to weighing on manufacturing, business investment. they're watching to see whether that spills into the job market and whether that can hurt consumer spending. speaking of the job market. there was robust discussion on that. officials were talking about whether the pace and slowdown of the job market is a sort of a natural occurrence that could relate to full employment or whether it is because there is a loss in momentum. also on a note, very
interestingly, fed officials say that negative interest rates are not an attractive policy for the u.s. they reserve the right to reassess that going forward. bottom line here going forward, charles, the fed is very comfortable with the current level on interest rates. they're monitoring risks to the downside closely. back to you. charles: jennifer thank you very much. i want to bring in former fed advisor danielle dimartino booth, courtney with payne group. i'm not affiliated with that group. surprised only george and rosen green were dissenters this time. why is moving that needle? was it so much closer okay cut one more time. what changed? >> i think they have seen more evidence of slowing in the u.s. economy outside of thes most interest rate sensitive sector which is housing. today we got out a report that showed the revisions that we had
through the year-ended, downward, over 500,000, downward revisions to payrolls. we found those downward revisions are going to continue through the second quarter, through july of this year. so policymakers are right to be talking about the in depth conversation they had about the jobs market because we are seeing a slowing. we've seen for two weeks in a row, continuing claims increase for the first time since december of 2009. that is real time data on number of americans collecting unemployment insurance. policymakers -- charles: still a 50-year low. >> unemployment rate is 50-year low. it is lagging indicator. why we get all the revisions. charles: initial jobless claims. >> real time data. charles: we have to go back to number one when the archies were on the billboard. courtney doesn't remember the archies. you never heard of them either. this is the case, right, courtney, if this is the case, why is jay powell, calling it the emancipation of jay powell. he was in front of congress. he came out with statements.
went to the white house this beak. why is he taking a victory lap? he seemed to be proud of the work they have done. more or less said we'll put it in neutral. we are doing a great job, everything will be okay? >> the positive side of this stock markets responded really favorably to this. the economy continues to do really well. they lowered rates, accommodative fed, great for market, great for 401(k). hanging tight is good thing this is non-event. minutes coming out, steady as she goes. what people want to see. charles: what is not a non-event what happened since the fomc seems like there is another bifurcation. new york fed chairman president john williams bringing up two things. he talked about the global factors. why he is still worried to your point, worried about the economy. then he also talked, we have the by the way the quote right there on the screen, you know, that these global factors and others causing economy to slow more
than expected. to slow more than trend growing on on going basis that could be argument for somewhat more accommodation. we may not be done with rate cuts. >> i think that is something we should bear in mind. there was a lot of celebration that germany did not technically go into recession. we've seen data come out since then, going it will have a flat line type of growth. we're not going to see the boomerang back up we would like to see. the oecd has leading indicators for global growth. hit a 10-year low. down for 20 month running. williams is justified saying, at some point, not talking about december 11th, but at some point 2020 all together rational markets would anticipate a fourth rate cut from the fed. charles: talked about inflation or low inflation. courtney, you talked about the strength of the economy. there are certain things that continue to buck the trend. you've been worried about auto sales. the last retail report. auto sales carried the retail sector big tile. we're seeing housing permits go up.
market, economy, some factors in the economy act like the things that auger for greater long-term health, housing permits, skyrocketing. things like that, are in place as well. so you have these two, how do you juxtapose short term anxieties maybe towards long term growth? >> i'm more in the house of we should focus on longter growth because a lot of fundamentals are really strong. the consumer really strong. it is interesting when target came out to beat their earnings. showing consumers are still spending right now. we were talking about jobs reports earlier. i thought it was interesting in most recent report, number of people voluntarily left their jobs went up. this is sign of confidence, they know something is around the corner. that they're definitely spending money. that is a good sign. charles: you don't do that when you don't know where your next job is coming from. i appreciate it. tell you about the archies in particular. that was back in the day.
democrats take the stage tonight, the tax foundation putting out analysis of their plans. the plans supported if not all candidates would roll back president trump's tax cuts and the study found the plans would eliminate up to 400,000 jobs. joining me from the national taxpayer union, mattie duppler. mattie, congratulations. great to have you on the show, mom. >> happy to be back. charles: let's talk about this we talked about the amazing economy that we have seen while we've had these massive tax cuts. by the way, amazing for blue-collar workers, amazing for household formation. amazing for part of the economy that has been shut out for a long time. >> listen the white house was unequivocal on that point when we whether talking about the tax cut and jobs act in 2017. the administration said point of cutting income tax rate is make america competitive again.
why is it important that businesses are competitive here? so they can invest in their workers. we're seeing that. you mentioned workers at the lower part of the pay scale are ones seeing the fastest amount of incomes increase. the white house said owing to the tax reform bill average american worker will see 4,000-dollar income increase as a result of cutting corporate income tax rate. when you unleash capital, businesses are allowed to invest it where it is most profitable and productive for them to do so. that is extremely important. when you hear democrats running for president, talking about reversing the corporate income tax cuts, what they're talking about increasing the cost of capital. that makes it more expensive to do business here. more pressure on wages. means fewer jobs for americans here in the united states. charles: kimberly, these democrats, most of them are elected officials in places that are not doing really well economically per se, certainly pockets, certain pockets of the economy are not doing well. you're running for mbc in baltimore. that is an area where the economic plight is well-known to
many, particularly after an expose' of sorts you did. what will you do, what will you tell the folks in baltimore to change how they have been voting for a century? >> i tried to do this for six months. i filed just this week. people if you want more of the same, keep voting more of the same. we saw baltimore former mayor catherine pugh was indicted on pay-to-play. you see federal grants coming into baltimore city. you don't see the money doing anything in baltimore city. why? because it doesn't make it where it is supposed to go. taxpayers across the country, want to see better especially in baltimore city, where we saw in 2015. we had riots. everybody saw as bernie sanders pointed out it looked like a third world country. taxpayers are paying into these grants. we expect to see some results. i hope people understand if you keep voting for these democrats. i hope tonight that the democrat could actually explain how "medicare for all" will actually work out. i believe that would drastically
change your economy. we can't lose those jobs in the medical field. i hope they explain it. charles: yeah. >> people need to understand some of this money is going into someone's pockets. there is a lot of corruption. as a republican i hope to kang that. charles: mattie, when elizabeth warren gave details on her plan her stock went down precipitously. i'm not sure how fine of a point anybody wants to put on the plans tonight. there is something about what we're being offered up this election season. we can have a system tax people done extraordinarily well, redistribute that money. or have a system where people can pull themselves up by their own bootstraps. americans will be asked to make one of those choices next year, mattie. >> democrats are trying to on sure the full cost of spend plans, saying taxes may go up, but services that americans will get in response will overcome amount of increase in the tax burden. that is simply not the case. the notion we can tax businesses, wealthy in the
country, pay for proposals democrats are suggesting. math doesn't work out f you look at some countries who have done this, they do increase taxes on middle class, all workers to pay for sorts of proposals. look for democrats to continue to obscure what they're proposing talking about new spending. charles: thank you both very much. glad to have you back. kimberly it has been too long. >> thank you. charles: worth noting we reached out to kimberly's opponent for the maryland house seat, maya cummings. we have not heard back. would love to have her on the show. impeachment hearings are underway. media and are jumping over gordon sondland earlier testimony but is it clear-cut as the market yawns. technology is killing it including apple. we'll have a preview of president trump's visit to austin. danielle is still in the studio. president trump at a texas apple factory. nothing better than that. we'll be right back.
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>> a very short bankrupt conversation. he was not in a good mood, he just said i want nothing, i want nothing. i want no quid pro quo. tell zelensky to do the right thing. >> i want nothing. that is what i want from you, that's what i said. i want nothing. i said it twice. i don't know him very well. i have not spoken to him much. this is not a man i know well. seems like a nice guy though. charles: one of the democrats star witnesses facing lawmakers in the impeachment inquiry. ambassador to the eu gordon sondland saying there was a quid pro quo between president trump and ukraine. still his feeling he admitted he never actually heard those words come out of the president's mouth.
what do we make of this week's impeachment effort? i want to bring in republican congressman, house oversight committee member. mark green. congressman green. thanks for joining us. >> thank you. charles: we heard headlines of quid pro quo, as we heard the impeachment proceedings, we learned there weren't any notes. there was mostly recollection. never heard the words, i mean sort of the same thing. so again, one of the key witnesses, a star witness sort of interpreting the actions of president trump. is that going to be enough to take this to the next level? >> well it will be for the democrats. they're, they are heck bent to get this done. they will do whatever they can to get it done. they are already drafting articles of impeachment, i think they made the decision the day the guy took office. it is nothing. like you said, sondland said, he came to the conclusion himself. nobody ever told him. in fact the president told him
just the opposite. as the president said earlier today, that ought to close the book on this. let's move on. but the democrats will not do that. they have got too much invested. they will take it to the end. charles: precise words president trump never told me directly the aid was conditional. the aid was my own personal guess, analogy, two plus two. i never heard from president trump it was conditional on investigations. i never heard those words. i mean so, but now some are saying you know what? he actually wided the net, he is saying everyone knew, everyone. all key players out there. so maybe this is where this goes next. did everyone know that, ambassador bolton, did john bolton know? did some other folks know what was going on? >> well, vice president pence came out today and flat denied that he ever had a conversation with sondland. i know mike pence. i know mike pence's brother. these are honest people. mike pence is an honest man. he is not going to say that if
it weren't true. i don't know gordon sondland. he is all over the map in his testimony. and i know that he said that there was no quid quote profrom the president. if he want to cast a wide net, i think it is more deception on his part. mike pence said it didn't happen. i vent herd from pompeo or the others but i doubt very seriously if they had such a conversation. charles: before you go, how frustrated are you, is there animosity of a role mayor giuliani and some others which seems to be fodder for today's testimony? >> it is very frustrating for us. i will give you an example. i have a bill that would help rural hospitals t removes the 35-mile exclusion. allows hospitals within 35 miles of another hospital to get critical access dollars. that would save rural medicine in our country. i can't even get the bill heard. so all of this has redirected the energies of this congress.
we're not focused on what the people want us to be here working on, lowering drug prices, fixing rural health, so many -- look what is happening in hong kong. charles: yeah. >> we have a report that a british government official was tortured? here we all, all cameras, everything pointed at this impeachment and adam schiff. it is ridiculous. charles: congressman, thank you very. whatever you do keep pushing those bills. we do need them. maybe one day you all will do legislating rather than investigating. we appreciate your time. thank you, sir. >> that would be great, charles, thank you. charles: the extreme lengths silicon valley is going to produce, increase productivity. i will give you a hint three letters, lsd. "the new york times" used a expose' of fedex to knock lack of business investment in america. why the myth that no business investment is wrong, really misses the fact there is a new paradigm shift for capital expenditures.
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charles: a fox news business alert of the general motors suing fiat chrysler, this is amazing folks. they are claiming executives at automaker got unfair business advantage by bribing officials at the uaw. the lawsuit alleges that fiat paid millions in bribes to get concessions from labor union. racketeering charges came out. a probe led to multiple arrests. fiat meantime is astonished by the lawsuit. obviously we'll continue to dig deeper and deeper into that. meanwhile "the new york times," you might remember this, we kicked off the week with smear piece in fedex highlighting business investment in the country. you look at the hard data theopposite appears to be not true. since trump took office business investment surged no longer
driven by old smoke stack factories. here to discuss, business forum president hadley heath manning. business is sideways third quarter, year-over-year. we had a chart, it surged dramatically after a couple of years of a lull. >> that's right f you look at for example the congressional research service gone back looked at the trend. there is a pretty strong tie between policy making out come between business investment. a as a result of business confidence, long-term interest rates and incentives that congress and other lawmakers at the state level can offer for business investment. there is a pretty clear trend there. we have seen heel really high amount of business investment in 2018. following changes to the tax code, that president trump signed at the very end of 2017. if you saw the flat piece in the graph between 2014 and 2016, there was a lot of policy
uncertainty in lead-up to major national election. the bottom line, policy making matters in terms of fostering conditions for the a strong economy. charles: you were speaking a of the paradigm shift. we're not building big smokestacks anymore. in the last quarter, ip invests up 10%, software up 10%, r&d up 11%. entertainment up 5%. structures, the big smokestack warehouses they're being retrofitted, not rebuilt. i do want to get your thoughts on this because you're a productivity ex-per. talk in silicon valley what they call using micro dots of lsd to promote greater productivity in the workforce. sound like a good idea to you? >> any working mom is a productivity expert, right? lsd thing is not for me, charles. i think probably a tend. some analysts compared it to the use of anabolic steroids as bodybuilders getting most out of muscles, people trying to get most out of the brain.
it remind me of bradley cooper movie, himless, there are long-term effects when you put things in your body. exercise, sleep, good diet, hard work are, the facets to productivity never go out of style. charles: never heard of them. hadley, talk to you real soon. we're watching markets for you. the leg down, talk about uncertainty with the china trade situation. we're off the lows of the session. we'll head to atlanta where democrats will face off in the fifth debate. a lot has changed since the last one. pete buttigieg will be spotlighted. he is really surging right now. many are wondering will this make him the big target tonight. what you will need to know. we'll be right back. ♪. we call it the mother standard of care.
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into next year. the whole premise there is a trade deal in front of us where we can grab it. that is not the case anymore. there is talk on the floor of ambassador sondland's testimony. first time traders ears peeking up to the impeachment inquiry. potentially troubling news there. i want to bring attention to retail stocks having a good day. target is one of them. double beat for that company. earnings per share 17-cent higher than analysts were expecting. the company also raised the 2019 profit guidance and digital sales were up more than 30%. this is important because it is keeping up with the competition. we're talking about amazons of the world, the walmarts of the world as well. lowe's beat on eps although home depot had a hard day yesterday. it is up more than 4%. back to you, charles. charles: funny, both have 3% same-store sales. one goes up, one goes down. that shows you about he can expectations when it comes to investing.
thank you, jackie. top democratic candidate are ready to debate in atlanta. a lot has changed since they were together. mayor pete buttigieg is skyrocketing to polls in two primary states, iowa, we learned this morning new hampshire. will they gang up on buttigieg this time? let's ask danielle mcglocklin and fox news contributor deneen borelli. slate, which i don't normally read, they had a piece on who will gang up on mayor pete. andrew yang is too much of a gentleman. number one will be amy klobuchar. she will come at him hard and heavy. you liked mayor pete from the very beginning. he is a target, isn't he? >> he is. could end up with a target on his back and his front. moderates ranking below him in the polls will come after him. andrew yang, amy klobuchar.
i don't see punching down. we'll see what happens but i don't imagine will see warrens, sanedders punching down because they're progressives. we'll see what happens with biden. one comes up, one appears to be going down. charles: maybe the lunatic part of the campaign that was roaring just a couple weeks ago, with respect, we have all the plans. no idea how to pay for it. we'll punish wealth or success, maybe that part is starting to fade from the democratic platform or maybe not? >> i'm trying to figure out who are the moderates here because they're all promoting free stuff. green new deal will cost trillions of dollars. "medicare for all" they have no idea how they will pay for it. elizabeth warren doesn't even want to talk about it. look how they want to raise taxes on hard-working americans. where is the moderate in all this? these policies are against hard-working americans. americans don't want government
intervention in their lives and they want freedom and to be able to make their own decisions. democrats politicians want government from all end cradle to the grave. charles: is there assumption on the democratic party that biden is slowly on the way out? feels like he evades being targeted. outside of the first debate when kamala harris came at him pretty hard, he has been able to speak a lot in the beginning, sort of fade in the background while these things go on? why has he, is he getting teflon treatment like that? is it out of respect or -- >> i think a little bit all of those things. he is clearly the front-runner. ultimately all the democrats want a democrat in the white house. they're being careful about the attacks they level because the attacks will be leveled by republicans in the general. that is certainly a part of it. charles: but they all want to win. at some point they have to get down and tough and dirty at some point? >> no question. we haven't seen that with warren and sanedders.
we'll wonder whether it happens. they both tried to demark themselves. sanedders saying day one. >> you mentioned biden. even obama won't endorse joe biden. former vice president you would think -- charles: is that sort of a wink and a nod that maybe president obama doesn't want biden or he thinks it was a bad idea? i heard he thought it was a bad idea to begin with. someone close to him personally outside the office threw his hat into the ring. >> similar biographies. charles: similar speeches. you write one, i will borrow it, you write one i will bore rote it, that kind of stuff? >> we can take what obama said publicly last week, the american people don't want massive institutional change. charles: right. a shot at warren and sanedders. >> american people don't want this country to be turned inside out. they want improvement. >> my goodness this is on video,
right? >> thank you, deneen. charles: thank you both very much. >> thanks, charles. charles: later in the hour, when hollywood hates something i think it is always a buy signal. it is investing advice you won't hear in i where else. apple expanding its presence in austin, texas. president trump will get a first-hand look at the factory there with ceo tim cook. we're live on the ground and give you a sneak peek next. ♪. because your investments deserve the full story. t. rowe price invest with confidence.
texas where he is touring a apple factory with ceo tim cook. susan li is already there. reporter: the factory is behind me. they're building here the mac pro, that the high-end computer that apple introduced this year looks kind of like a cheese greater. they're keeping the jobs here in the u.s. we're slightly behind schedule at this point. let me show you the scene where we're situated in austin, texas. a street divided, maybe emblematic of a nation divided. pro-trump supporters on one side, chanting against anti-trump protesters on the other side. they will be here to greet the president whenever he touches down in austin. this is about american jobs, american business to president trump. he has been lobbying apple, to keep jobs, keep manufacturing in the u.s. listen. >> apple is opening up a fantastic facility. they're spending a tremendous amount of money. i've been asking tim cook from
the day i got elected from the campaign, i've been asking tim cook to, if they would, we want to see apple build here. that way you have no tariffs. there is no tariffs. when companies come to our country and they build there is no tariffs. reporter: maybe convincing with a little bit of pressure since president trump did tweet at apple in july. bring it up if we can. apple will not be given tariff waiver or relief from mac pro parts in china. make them in the usa. they will be making them in them in the usa at one billion dollar austin campus. charles: susan li, thank you very much. one small business owner from flint, michigan, share her story, her moxie, ambition, social media, to connect with athletes, social influenceers to market and buy her clothing line. it is fantastic. we'll be right back. ♪.
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charles: headlines about flint, michigan, only seem to get attention when they're negative. a entrepreneur is trying to change that using her city as a base for her high-end unisex streetware, called calm with a k. they invest in early stage companies in flint, michigan. kalm clothing founder joins us with founding partner of 100-k ventures robert wolf. a pleasure to meet you. i've seen your interviews online. i've been following you almost a year. you have only blossomed since then, as a young entrepreneur,
share bits of wisdom what got you here today? >> what got me here is resilience. when i first the is ited i didn't know anything about taxes. i didn't know how to run a business. i knew how to design clothes and import them and sell them real fast. charles: you had an encounter with deion sanders early on giving you business advice about a venture you were in. >> yes. charles: you changed course, along the way you started to learn about this business as well. >> so deion sanders was, actually i thought he would be an investor and one of the first ideas i had which was really big huge issue boxes i used buildout in my mom's driveway. i was selling them. his son dmed one night he told me wanted to invest. he had his father call on three-way. i'm thinking this is my big break. he will take me under his wing. no way. there is no longevity in this. make as much money cast you can really fast. don't look for this to be your
big break. he gave me advice. it steered me into a difficult course. that is how i got into clothing. charles: looking for ways to make new things. you found a clothing person. ordered a jacket you kind. everyone loved it. you are like bingo. that is my next business. so how did you get and robert get together. >> i was selling trunks out of the trunk of my car. my attorney told me i needed to be in touch with 100-k ventures which is robert. robert is 100-k ventures founder. they got me in touch with him. charles: robert, you and i talk about a lot of different things. this is where we share a strong compassion. first and foremost, i want to say thank you. >> well, thank you. charles: how is it going? >> listen it is going great. we're an accelerator group, 100-k ventures with phil out of ferris wheel. we have group, draymond green,
victor cruz, soledad o'brien, girls who code, meena harris, michael nutter, frank thomas. we have a great group. our idea we'll take a great entrepreneur, who already has it, help her go from there. so our first investment was in kalm growthing. we're so excited, she is resilient but she works hard, she's smart, this is not a non-for profit. this is for-profit, a business. charles: i saw your podcast with the barber boys, troy cash, t-stone. there was a line, i love you guys keeping it real, right? >> yes. charles: there was a part i think it was joey cash, flint is where you can create your job. there is no reason for anybody to be unemployed in flint. that struck me. we hear from the media, people in flint, they have the water situation, they're poor, hopeless, you all were agree you
can take your own destiny into your own hands? >> yes. exactly. flint, there is a lot of different lanes that you can go through in flint. a lot of people in flint are of affected by the water crisis. i think that has taken away from the fact they don't know you can create a lane for anything in flint. so our markets are kind of low. if you want to go into the fashion business, there is a fashion business in flint. there is room for more. charles: right. >> there is barbershops in flint. there is room for more. you have to create your own lane. be resilient. don't be affected by things in the media. >> 100-k. there is 100,000 people in flint. that it where we got 100,000-k ventures from. charles: possibly 100,000 business. >> they want to help themselves. charles: before i let you go, tell us about the new line. i love the coat. love the layout. >> we'll show it to your people. kalm.online. charles: this is your new -- >> this was one of the most popular items from kalm it's a
puffer coat. you can wear it on the other side. charles: reversible. >> uh-huh. there was a sweat suit came out with the the coat. like a matching three-piece kind of thing. this is pretty much how i go from concept to product. so there is no fancy computers. none of that. so you guys don't need any of that to get started. all you need is an idea. to be able to put it on paper, be able to talk about it. charles: you are an amazing inspiration. >> thank you. charles: definitely i will be a customer. you got my sons? >> i have your sons -- i'll be sure to get you guys, family and friends discount. charles: we're looking for it. cara, robert. thank you very much. much success. you are an inspiration. >> appreciate it. charles: i have a piece of investment advice for you later, you will not hear anywhere else. why there is great value investing against your own angst, your own fears. why it is always a buy signal if hollywood hates it.
president trump landing in texas to tour an apple factory in austin, along with ceo tim cook. stay with fox business for his comments. we'll be right back. ♪ only pay for what you need with liberty mutual. any comments doug? yeah. only pay for what you need with liberty mutual. con liberty mutual solo pagas lo que necesitas.
scientists a path to create entering treat entering treat incurable disease. due to the potential misuse, the u.s. intelligence committee designated out of mass destruction and perforation. of course password to this week shares have erupted higher after two patients with two different blood disorder diseases including sickle cell anemia and it caught my eye because i have a godson that suffers from not in last year he suffered numerous bouts of debilitating pain. it averages seven years after four months since he got the gene therapy he has been crisis free. he will now be followed for the next couple of years and if everything goes well, this could be available to people like my godson. no matter how many scary movies hollywood makes or investigation by congress, the future is going to look a lot different and you are going to be a part of it
anyway. >> if this company looks up to his potential investors can have life altering impact of their portfolio if they own the stock. another note, the editor of trading with cody.com. i've got to start with you, you did not used to talk about the stuff all the time, cutting edge technology, the world fears that but it's changing our lives and we can make money. >> that's exactly right, their trillion dollar industries being created all the time in regards to the crisper industry itself, i have a medically fragile daughter diagnosed with trisomy 13, a genetic disorder before she was even born. i believe that crisper and these other genetic modifying disease attacking technologies are coming out, they will change her life and make her -- shall be able to walk, talk, shall be a functional human being if these
crisper technologies take us to where i think they really will. >> of course we just showed a picture. >> a beautiful girl. >> my two beautiful daughter. >> that is what it is all about. i have a natural fear and anxiety about technology but at the same token as an investor i'm in stocks that are real against all the time, i'm on facebook, i'm on amazon even though i'm always complaining about them. >> the future is great because of people like robert wolf, he is one cool dude, let me start with that. when i started this business it was amgen, then aids in a death sentence. and new drugs came out and gets a hopping, people live the rest of their lives with it. modern technology, new medicin medicines, greatness is going to continue to come forward because of great people inventing and
researching and doing the things necessary to bring things forward. that's why we are seeing technology a rapid pace right now, new wonder drug that you would never dream of 20 years ago are now out there for every type of disease. grab the future and may i add the greatest winners from now will be all these new ipos coming out at reasonable prices that have these great technologies that have these new medicines and new things in the medical industry. do not fear it, embrace it. >> you are two of the best i've known you for a long time. let's switch gears, the anxiety today with the fed news -- with the china news. i'm over that, were at all-time highs and i think eventually wall street would love to see the december 15 deadline. where you stand in respect to
your investment in all the anxiety out there? >> i think the economy might be set to accelerate over the 6 - 9 months. i think the markets might be ready to do another leg up. the most unexpected and stand you can take right now is to be bullish and excited that the economy might accelerate. i think there were such apposite concern about the chinese tariff in the chinese trade war that maybe now i did not actually impact anything, people will take up the pause button and hit play again. >> we saw housing permits soaring, wages are soaring, it looks like a home a strong 2020. >> the economy is sound, i don't see this being gargantuan lee great, i think gdp will be 1.5 this quarter but were much better than most. the beat goes on, the talk of recession and depression has been going on since beginning of the time, the talk of crashes, this just does not happen very
often. it's not even 3:00 o'clock, by 4:00 o'clock there will be different news. one more trump tweet. [laughter] >> i try not to pay too much attention. >> i have two superstars. thank you very much. we will get a chance to see gary again on "bulls & bears". here is liz claman. >> breaking news, air force one has just landed off in texas. president trump back in the lone star state to tour the factory where apple makes. >> pro. apple ceo tim cook will lead the president on a tour and then the private narrative that will be developing during this hour, fox business and "the claman countdown" are overbooked. the ultimate intersection of business, politics and trade and investment, it is all happening in the next 59 minutes and it's happening as trade war news knocks market off the record pace the report t