tv Cavuto Coast to Coast FOX Business November 25, 2019 12:00pm-2:01pm EST
stuart: 49ers and packers played last night. did the packers win? >> no. the 49ers creamed them. stuart: 49ers are best team around? ashley: they're strong. >> tom brady is still there. showing he might have retire. stuart: that is my commentary. neil, it is yours. david: if it was neil. always great to get your hand you have. i'm david asman in for neil neil cavuto. this is "coast to coast." how might -- mike the situation sorrentino got himself into a big tax situation. he joins me for for exclusive
interview. that is coming up. to our stop story, billionaire mike bloomberg is officially jumping into the race. to charlie gasparino, who has been on top of the story. that is a lot of money. >> now you have mike on a good friend of my friend greg valentino. i have to watch. i can't wait for that. but in any event. this is a huge story on a number of levels. mike bloomberg is one of the richest men in america. i think fifth richest, could be wrong. $58 billion. self-made man. david: wow. >> new york city mayor. he has upended the race at least for journalists. now the real question going forward, does he upend the race, the real race? i think there are two storylines you will see coming out. one is the bigger one. does he have impact here? does he have impact beyond beating the hell out of donald trump, right? a lot of these ads will be saying why trump is unfit for
office -- david: he has to get the nomination first. >> do they work? do they work where they get him enough votes where he sneaks in on brokered convention? it will be hard to come in right after super tuesday. david: he is skipping the first four or five races. >> that is one business story. the second story is still important, what does he do with his company, bloomberg llc. david: correct. >> it is amazing product. if you have been covering wall street as long as i have, you can't be an investment business without this. david: why he made all the money. >> i don't he made so much money. aside from the great analytics tool, it has been amazing news product, okay? some of the best journalists i know work at this place. great editors. they know what they're doing. but they have been thrown a curveball in the 48 hours, 24 hours where they are now under a new regime, on how to report this thing which is not very, which is not very easy to
follow. they're basically told this, you can't do investigative pieces on mike. you can't do investigative pieces on any of the democratic candidates. you can't cover the news but you can do investigative pieces on trump. now,. david: that is big hole in the news. >> there is bunch of personnel changes that sort of, mike had a direct role in bloomberg opinion. they're trying to like seal that up. you will still have columnists but i don't think they will be channeling mike's opinion too much in their editorials. so you have journalists going, trying to comply with that it will be very, very difficult. i'm not saying they can't. they obviously could. puts them in a very bad position that if you, listen, the rationale for covering trump differently and full on, as opposed to covering other candidates is that trump is already in there. he is the president. he won. these other guys haven't won.
they're running against mike. suppose you're a reporter find out something about mike, biden, do you have to give it to somebody else? david: that is huge gap in the news division. let me ask about the running for the nomination, that he is playing into liz warren and bernie sanders theme being rich can buy you political power. >> there are two answers. he is banking on democratic voters in large, en masse, also, the people that really decide these elections, independents, are much less class warfare, class conscience, than the woke liberals that have the loudest voice on twitter and social media. maybe in the democrat, you know, in the democratic primary. he is brokering on that, you know, he has got a shot to get in there, the populist, the voting age, people who really vote, that decide these elections are not crazy about donald trump. they think he doesn't have the right personality. can see that in his poll
numbers. they wouldn't mind a moderate guy getting in there. they will not vote for elizabeth warren because she is so lefty. david: can he get the nomination with all the progressives? >> every biden person i said said no. i want to make one more point about bloomberg. david: because we have to run. >> a lot of people think they will sell it. david: interesting. >> these rules -- david: that is a huge sale. it would be a lot of money. >> i don't know who would buy it. have to put it in -- rules of coverage are so difficult to follow and the other thing is i don't know if you can extract the news division out of product. the news division, may not make as much money on terminals, to the terminal, and to the data that you can't pull it out. david: very difficult problems for mr. bloomberg. >> for people who work for him. he is worth 58 billion. when you're worth 58 billion, you don't have a lot of problems, right? david: charlie gasparino, good stuff. always important to remind folks
first person talking about bloomberg running here and his campaign still going on was charlie gasparino when everybody else said he wouldn't. >> huge assist from lydia moynihan. david: great pouser. we are 20 days away from the next round of tariffs but could we see a delay ahead of the holidays? edward lawrence on this. reporter: david, the announcement meant to get the stalled talks boeing again. the chinese said they would have new guidelines protecting intellectual property rights and patents this is something the u.s. wanted and pushing for. there is a difference saying something, actually following through and doing it. that is what the u.s. wants to see is the follow through. the deal is expected to be on paper right now. the two sides are still talking on phone to iron out details. tariffs are a sticking point for the chinese. they want tariffs rolled back as
phases are completed. u.s. want to roll back some of the tariffs, keep the majority in place to make sure china follows through with this deal. chinese experts believe eventually a phase one deal will be on paper. >> yes, the chinese, as the president says, the chinese are desperate for a deal. they're hurting. he uses the term substantially higher tariffs just two weeks ago if the chinese don't make further concessions. reporter: the president says if we cannot get a deal on paper there would be substantially higher tariffs. in part some items on the screen. hanging out there is the december 15th tariff which these items are included in. senior administration officials told me the tariffs are scheduled to be imposed unless the president is happy enough with a phase one deal that he suspends those tariffs. on hong kong going forward as of right now the chinese see that as a separate issue, related to the trade talks. they are saying though, they will put countermeasures in
place if that chinese hong kong human rights bill goes into effect and becomes law. david: edward, thank you very much. there is another trade deal. president trump calling usmca dead in the water due to the impeachment push. are house democrats proving they can't walk and chew gum at the same time? to forbes media chairman, steve forbes on the fears of a major agenda delay. it is fear impeachment is sucking the oxygen out of everything in the beltway, right? >> it is. you would think nancy pelosi looking to the general election especially candidates coming in that put the party to more centrist direction, who want to show voters in 30 congressional districts could go back to the republicans say, hey, we got something done even though trump endorsed it, it is good for the country, unions like it, we'll vote on it, take away the charge you're just obsessed with trump and hopefully that will happen
because the longer this gets delayed it hurts the economy. david: it hurts everybody. it appears they seem to care a lot more about hurting trump than helping americans, right? >> there is big portion sadly in the house of representatives on the democratic side think a bad economy would help them. they do not want to see a good economy. never say that publicly. david: people be damned? >> people be damned as long as they get in. they think trump is the devil inkarn eight. she needs to realize if she wants to remain speaker which she does, she has 30 seats on the fringe of the democratic party. david: they keep talking what they have passed. they can chew gum and walk at the same time but i look what they passed. a lot of it are renaming post offices those kind of bills, right? >> apple pie week if that is still legit in this country to
eat apple pie and stuff like that. in terms of big stuff they have to come up with something big. to say canada is happy, mexico's is happy, we're concerned about america. when america's interests are in the case we rise to the occasion. patrick and biden would want to be able to say in the fall yes, we put the country first and not let the fringe dominate the agenda. david: steve, let me talk about impeachment because you have got a good political sense as well having once run for president yourself. congressman will hurd a moderate republican. he was seen as by a lot of democrats one republican. i don't approve what the president did, it was not coche you are but does not rise to impeachment. this essentially will be a 100% partisan impeachment. that we never had before in america. don't you think that will turn off a lot of independents?
>> it is. mcglocklin group did polls among 17 battleground states, 55% of voters oppose the impeach process. florida got as high as 60%. among swing voters this is not sitting well, they haven't come up with the proverbial smoking gun. that is one reason why schiff, adam schiff wanted this so much in private because in public it sounds awfully confusing. the president didn't behave right. that is not news. but is this something, especially in an election year. election year, if you don't like the guy you can vote him out in november. david: steve you mentioned news. you watch news. mainstream media. with the exception of fox, couple other internet sites. bottom line they say, the grounds for impeachment are there, everything. will that news, even if it is, whether the report something false override the independence, lack of enthusiasm for impeachment?
>> no. because it dominates the upcoming election. we have an election next year. caucuses are soon coming in february in iowa, followed by numerous primaries. it will dominate the primaries. since it is not a winning issue, not if they found him strangling people at night, being a zombie or something. they haven't discovered that. so it will take away news, especially on the issue of health care where they could use that as a wedge issue. it will get dominated by impeachment. every town hall, these candidates will ask, what about impeachment? david: the senate trial, you're going to see a lot more bipartisanship in terms of witnesses, et cetera, than we saw during the schiff hearings. if anything it will be worse for the democrats. >> why weren't we allowed to call our own witnesses as you would have in a normal courtroom. people understand that kind of thing. the house discredited itself. in the senate, i think, you know, donald trump doesn't have to worry about the senate. he has to worry about obviously
the election. david: by the way i have to put up "forbes" cover today. it just came out. there is the chairman of louis vuitton which just bought or trying to buy tiffany's. very well-timed, sir. >> jewel of a magazine. david: a wonderful magazine. i love the name of it. >> i approved. i approved that ad. david: ahead of big black friday deals, big companies making deals with each other. the details are coming up. don't miss the market breakdown on "bulls & bears" a little show i do at 5:00 p.m. eastern time. it's a lot of fun. we have a great panel. hope you enjoy us. be brilliant. be powerful. be the diamond you are. find dazzling deals on diamonds and more. the zales black friday sale. get 30-50% off everything, including this stunning 7-carat diamond bracelet.
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♪ david: i know we're not even at thanks giving yet. yes the christmas tree has arrived in washington, d.c., it is always happy to see a christmas tree, right? what is bad about that. a beautiful day in the northeast united states and beautiful day in washington. so it's a good day for this sort of thing to happen. it will be a while before the treat gets its lights and the lighting ceremony begins but i believe that is the first lady. that is melania there, checking out the tree, making sure everything is in order, giving it her seal approval. these were moments ago, by the way. percent sign of christmas right there. record breaking shopping season kicking off. national retail federation says 165 million schollers are expected to buy over the holiday weekend. overall holiday sales are expected to be higher than initially expected. that is great news on the economy. retail analyst erin sikes says consumer spend something strong. great to see you. >> great to see you.
david: black friday has already begun. it is always supposed to be after thanks giving. >> black friday is not what we grew up with anymore. it is entire week. black friday you don't get better than phenomenal deals you get on saturday, sunday, or cyber monday. might get a couple of bonuses or better credit or gift with purchase or something like that but you are not getting crazy deal that are different than the other days. david: these guys, the retail experts have to kind of divine what will be selling well, what the consumers want. what do they think will be selling well this week? >> it is all about technology. so your smartphones, integrated watches, tablets, et cetera. amazon, target, best buy. that is what they're all going to be pushing. david: you mentioned brick and mortars. we third they would be dead in a couple of years. in fact they have risen from the
dead if in fact they were going there. was all the talk overdone? >> i think retail, state of the economy was overpoliticized for a long time. that is unfortunate. our consumer is really very strong. the retailers doing well will continue to do well. david: walmart and target? >> exactly. walmart, target, amazon. amazon had the biggest cyber monday ever of any retailer last year, on a down year. so just wait for this 2019. david: how about the malls? there again we were hearing stories that we wouldn't see any malls 10 years from now. somebody just invested billions of dollars in a mall in new jersey that has roller coasters in it, things like that. so malls are not dead either? >> no. it is really about upgrading the customer experience. simon does a really great job of doing that they are the ones that control the woodbury commons, those types of very high-end either off priced or traditional malls. but, they're adding more restaurant.
helicopter landing pads to cater to very luxurious consumers. david: even if you can't afford the high-end stuff you like to look through the glass to see what they have got going. >> it is fun and social. david: erin, thank you very much. let's hope for the best year yet on holiday sales. >> absolutely. david: uber facing issues across the pond and under water close to home. stay tuned for that. an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th.
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there's a company that's talked than me: jd power.people 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. most people think of verizon as a reliable phone company. (woman) but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. virtualize their operations. (woman) and build ai customer experiences.
we also keep them ready for the next big opportunity. like 5g. almost all the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. ♪ (people talking) for every dollar you spend at a small business, an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th. >> sir? >> yeah. >> [bleep] well, maybe that was a little too hard? david: yeah just a little bit. a smashing success. elon musk saying preorders despite all that you just saw are coming in. but is this different looking pickup, really going to catch on? we'll dig into this a little more in the next hour. but first, uber, losing its
license in london over passenger safety worries. susan li joining us now with the very latest on this. that is a big one to lose. >> the transport of london said uber exhibited what they call ad pattern of failures, placing passengers and security at risk. here are the reasons. includes unauthorized drivers up loading the wrong photos. trips made by unlicensed drivers, suspended driverses creating accounts. that means cars that look proper insurance. uber says this decision is extraordinary and it's wrong and they will appeal. the ride-hailing giant's offices, we have robust systems and checks in place to confirm the identity of driving and will introduce a new facial matching process which we believe is the first in london taxi and private hire. this is not the first time uber's license has been suspended in london. also taking place in 2017, temporary extensions were granted to uber. now during this particular
suspension uber has 21 days to appeal. it will be allowed to operate in london during that time. now london is uber's biggest european market but only representing 2 to 3% of gross bookings worldwide. so not a lot to the entire business. still it's a big blow that given european rivals like bolt and france based captain are being allowed to operate in london. the mayor of london, sadiq kahn, weighing in i support the decision by tfl, transport of london licensing officials in relation to uber and completely understand why this decision was taken. keeping londoners safe is my absolutely number one priority. however, the plot thickens several reports surfaced reaction in the news, pointing out that anti-uber unions contribute ad significant amount to sadiq kahn's election campaign. they are wondering why uber
might be singled out. david a lot of questions remain unanswered. david: that is an interesting question, susan. mike the situation tore sorrentino is coming up in an interview. ♪ we made usaa insurance for members like kate. a former army medic, made of the flexibility to handle whatever monday has in store and tackle four things at once. so when her car got hit, she didn't worry. she simply filed a claim on her usaa app and said... i got this.
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david: we're told charles schwab will buy td ameritrade in all stock deal valued at $26 billion. it is expected to close in second half of 2020. td ameritrade is going gangbusters. charles schwab is not doing too bad. we're told to await an event in the rose guarden. as i mentioned before, the christmas tree came in. it's a beautiful day in washington. we don't know what this particular event is about. gives them a chance to taste the fresh air in spring-like day in d.c. we'll let you know as soon as that event takes place. meantime we want to turn to the latest in impeachment inquiry.
democrats could soon turn the process over to the house judiciary committee as we get more signs this whole issue is not resonating in swing states. fox news contributor liz peek says democrats can't turn back now and they are paying the price for this and she is here with me now. great to see you, liz. >> thanks for having me. david: terrific piece. i had congressman dan kildee on, a democrat, sort of a moderate democrat from flint, michigan, he says, i ask him how much the folks in his district care about this? you know, they care more about their jobs than care -- they care more about deer hunting in season than they do about this. >> right. david: i think democrats will pay a price for that? >> every indication they're already paying a price. we have polling which shifted very heavily against impeachment. and particularly amongst democrats. the group that everybody hopes to court favor with, right, between now and the election. fund-raising, look at the fund-raising. gop party groups and candidates are raising enormous,
unprecedented amounts of money. the dnc can't get started. that is affecting them. in those districts you're talking about, swing states, swing districts, the gop is running ads targeting vulnerable democrats in those trump-won areas and the dnc doesn't have any money to respond this is a huge problem for them right now. david: on the other side, on the republican side, moderate republicans are not buying that anything that we heard last week rose to the level of impeachment. >> people are not paying attention. the attention, we see the ratings going down. polling shows that voters are not as consumed with this as the beltway thinks we should be. you know, shame on us. by every indication including the fact that the president's own approval ratings have been ticking higher and the market keeps hitting new highs, it is hard to find anything but corroboration in the fact that people really don't approve of this and they don't like it. david: by the way, once again we're awaiting an event in the rose garden. we're not sure exactly what it
is going to be. we'll go there. but i want a clip in, adam schiff is the poster boy of the impeachment. leading the campaign. he made a closing statement on friday. listen to this and get your reaction. >> in my view there is nothing more dangerous than than unethical president who believes they're above the law. i would say to people watching here at home and around the world, in the words of my great colleague, we have better than that. adjourned. [applause] david: looked like he was fighting tears, a stiff upper lip. i can't tell you how many people we're better than that. isn't that exactly what he did when he tried to get naked pictures of donald trump from a guy who alleged he was ukrainian? >> really. nancy pelosi made the worst possible mistake of her career. this is true. by putting adam schiff in charge of what turned out to be a highly partisan impeachment
effort. she will go down as the person who allowed that to happen which has all kinds of reverberations we don't even know yet. david: we have to take a short break. because we may be jumping out of that break to bring you late-breaking news from the rose garden. let's take the break. bring you right back from that. we'll bring you right back from there. we'll be right here. well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines.
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landed him in prison. he is out. mike is here to talk about his struggles, how he is helping others to deal with theirs. first of all, what the heck happened? >> in the what situation? david: what landed you in prison? >> bad decisions, being young, immature, uneducated about money. eventually, and substance abuse led me -- david: the situation, mike, but we have a situation. let's listen to the president. he is talking in the rose garden. >> al-baghdadi is gone. but that was a flawless attack. i expect quite a few of them. we gave conan a medal and a plaque. that is really, i think conan knew exactly what was going on. but, a dog that is very, very special and we could maybe say, mike, come on over. maybe you want to say something about the type of dog.
>> [inaudible]. >> going to put a muzzle on the dog. i thought that was a good idea, but then it gets even more violent, john. so i had a choice. but the dog is incredible. actually incredible. we spent good time with it. so brilliant, so smart. the way it, was with the special forces people that worked with. for obvious reasons they can't be out in front of the media. but they did a fantastic job. conan did a fantastic job and we're very honored to have conan here and to have given conan a certificate and an award we'll put up in the white house. mike, do you have something to say? >> it's great to be here, mr. president. i know you just finished a meeting with some of the very same special forces who complete the successful raid that took down the leader of isis but i recall, mr. president, when you made the decision right up there
in the white house, the day before the raid, you had talked about measures that were available to protect our soldiers and been described to us about the fact that they had dogs that could go in, in the event that al-baghdadi had on explosive vest, that you put the premium on the safety of our special forces, and this dog was there, suffered some injury. we were able to complete the raid without any american casualty. so i think, having a special forces here today, who obviously can't be out in the public but also having this extraordinary dog here today is a reflection of our armed forces and the great job they do. conan is really a hero. it's a real job to help welcome him here to the white us. >> that is true. conan was badly hurt, as you know. they thought maybe was not going to recover. recovered actually very quickly and since gone on very important
raids. as you know, we captured 100% of the isis cali caliphate when i took office. we had almost nothing. it was though they were just forming again and now it is 100%. we have done a lot of work since then. we've done a lot of work since the raid, certain things have happened that are very important. -- happened that are very important. we're in very good shape. we're in very good shape. we had a lot of help from other countries. we've really done a job. i just want to thank you all. this is a special time for conan and we really appreciated it. i was told about the breed. i was told about conan himself and conan is a tough cookie and nobody is going to mess with this dog. so what chance with conan, i got to see how fast conan can move.
what chance would a strong man have, really strong fighter, what chance would this person have against conan without the guns? what chance? i guess the answer pretty much was none. he would have no chance. so it's, amazing. yet you see how beautiful and calm -- [inaudible] he is not in a bad mood today. not in a bad mood. i want to thank you all. thank you very much. this is a great honor to have conan here a great honor to have the special forces here. reporter: [inaudible]. >> conan is not retiring yet. conan is age time, prime time. i asked that question. they go for about six years like an athlete. six years, they start, they like to get them at 1 1/2 or two years old and six years from that time.
after that, it happens where maybe reflexes are not quite as good and -- [inaudible] never happened to us, but the dog prime time is six years after two and they're very special dogs. very hard to get, this particular dog. this is the ultimate fighter in terms of sniffing drugs. we have, we spent a tremendous amount of money on drug equipment at the border. i was talking to the people, i say is there anything better than this equipment? no, sir. the only thing better is a dog. a dog, this type of dog exactly because it's a certain type of dog. it is pretty amazing. but they are really better. we had a case where we had drugs in a cylinder of a car. it was undetectable by this very expensive machinery, which is really amazing machinery, still it was undetectable. the dog came in, jumped on the
hood, pointing, opened the hood, knew exactly. the incredible the sense of smell whatever it may be. probably sense of smell. so they're incredible animals. thank you all very much. [reporters shouting questions] reporter: [inaudible] >> yes i do, of course. reporter: [inaudible]. david: all right. what a great press conference. you don't have a chance to have nothing but good news when the president meets the press. there was president, first lady melania, handler of really the star of the show. it is very, very rare for the president to be upstaged but in this case he was upstaged a k-9. that was the animal that chased baghdadi, the founder of the worst terrorist group this world has really ever known into a hole in which he killed himself.
but that dog was responsible for cornering baghdadi and an amazing dog it is. thankfully as the president said, it survived. it, for a time wasn't whether the dog would survive. the wounds it received you can only imagine what kind of beating it took from baghdadi as he was trying to escape special forces trying to get him. the dog, conan, a real here roy. we joined president and are esteemed with that? mike sorrentino from "jersey shore." >> it was definitely interesting. david: you went to jail with problems from the taxman. i was young, immature. uneducated. so much eventually the substance abuse led me to making not good decisions. led me to go into prison almost
7 to 8 years later. david: what was the specific problem? too much money, not knowing how to handle did? >> all that fame and money all happened so quickly. i just didn't, i just didn't have my eyes on everything. i was not making good decisions. eventually not making good decisions it could lead to going to prison which it did. david: many say you had millions coming couple years. wasn't the money enough? why did you have to cheat the taxman. >> it wasn't a choice of mine to cheat the taxman. i wasn't knowing what was happening with so many moving parts. it came down to be uneducated, naive, substance abuse. when you combine all that, it is definitely a situation. david: were you being misadvised by individuals handling your money. >> at the end of the day you don't blame or point finger at anybody. you must be accountable. they were my taxes, they weren't
done correctly. it led me to going to prison. that simple. david: did the prison help you get off dependency on drugs. >> i was three years clean and sober before i went to prison. i had a choice to become better or bitter. remained sober in prison. lost 40 pounds. david: you look terrific. and in great shape. >> i'm able to close the factor, pay fines and restitution, handled the situation with grace and class. i can move forward with my beautiful wife and live my best life. david: talk about your beautiful wife lauren, waited for you like nobody ever had. it must have been extraordinary. >> behind every strong man is stronger woman. i'm so proud of her, proud of myself, how we handled such adversity in front of the public eye. david: did she help you deal with the substance abuse? >> she did.
she never gave up on me even though i gave up on myself in the beginning. eventually after trial and error i was able to grasp recovery. i'm being four years clean and sober. partnering with ban i don't know treatment centers to spread awareness of disease and addiction and substance abuse. david: you talk about it. it must be tough to talk about it at first, you get accustomed to it. people of all walks of life. larry kudlow the chief economic advisor of president of the united states, had substance abuse. serious substance abuse. he had a wife who stood by him through thick and thin. she helped him. she said ultimate cure was his faith. did faith play a a role in your cure. >> we rely heavily on practicing our faith. living one day at a time, moving forward we choose positivity as a family. that at the end of the day that helps. at the end of the day you're in
a dark tunnel. the light at the end of tunnel is really yourself. david: do you think somebody can cure addiction without some aspect of faith in the cure. >> i'm not going to say for sure but faith helped. that is what i'm preaching now, one day at a time. works if you work it. obviously believing in yourself. if you believe you will accomplish something you will. but if you believe you're not, then you won't. you have to believe in yourself, your family, your future and sort of put in the work as well. david: you talk about the dark spots in your life. you had another one. >> yes, sir. david: i mention it. your wife was open about it in public, the miscarriage. >> yes, sir. david: i again imagine faith played a role helping you through that? >> it really did. what happened most recently with the miscarriage, we had no experience in that, and, but, we had experience in handling tough situations. you know prison addiction and how we handled those situations was sort of picking yourselves up, dusting yourselves off,
moving forward one day at a time. also relying heavily on the faith and each other. that is exactly what we did. you if he we're in a good situation. we choose positivity today. i'm celebrating four years clean and sober. we celebrate the our first year of marriage. the missus is behind the screen. that is the missus right there. jersey shore is the number one show on mtv. we have a lot to be grateful for. david: lauren, i hope you don't mind. we're showing your profile. good to see you. all of us have troubles. all of us sin. the question how you pick yourself up and handle it. you done it with a lot of class, both you and lauren. wish you the very best. >> thank you so much. david: god bless. protesters in hong kong celebrating rather than rioting but how long? why the big election win may be just the start of progress.
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sleep number event, save 50% on the sleep number 360 limited edition smart bed. ends cyber monday. david: baby boomers expected to flood the market with 21 million homes for next couple decades. the big question who will be around to buy them? kristina partsinevelos with very latest. hi, kristina. >> we talk about millenials not buying homes. now i talk about baby boomers, why they're going to flood the market next 20 years. no, it has nothing to do with easy credit other oversupply. unfortunately has to do with increasing mortality rates as baby boomers start to pass. that is a report that came out from zillow i saying next two years, see influx of houses in the market. more specifically boomers in the housing market. four out the 10 homes are owned by people 60 years or older.
four out of 10 by 55 and older. i will steal the name from cillo. this is a silver tsunami, as boomers turn over nearly 2/3 of homes by 2037. most will be in retirement areas like florida, miami, tampa, sadly where people have left, pittsburgh, knoxville, cleveland. up-and-coming areas with vibrant economies with more affordable housing doing quite well. dallas, houston, knoxville to name a few. if we look how bad it could get by 2040, we have a graphic to show you, how many houses could hit the market. you can see the steep, look at that up to 1.5 million homes, by 2040, just coming from the baby boomers. it will be a major issue for the construction industry. we haven't seen this new home levels at the prerecession levels in quite some time. so we could start to see a shift
of construction workers to work on existing properties. david, to bring it full circle. this might coincide with millenials right now. millenials are not buying homes. we talked about that many times on "bulls & bears." how they're not in the market because of debt or they're not getting married or having children at the same rates as the past but this might work out you know, in the next 15 years or so, once these homes hit the market. i'm trying to bring it full circle. david: we'll see whether it does or not. kristina. thank you very much. coming up how does billionaire like mike bloomberg deal with democratic field with folks that say there shouldn't be billionaires like mike bloomberg. we're coming up next. plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. more exciting than than getting a lexus...
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cavuto. it is a battle now of billionaires. the former new york city mayor michael bloomberg shaking up the race and his rivals immediately going after his billionaire status. listen. >> we do not believe that billionaires have the right to buy elections. that is why multi-billionaires like mr. bloomberg are not going to get very far in this election. >> money is sadly a very big factor in american politics and who might win. i just don't think people are going to buy it, that you just put a bunch of money and maybe the argument is hey, i've got more money than the guy in the white house, i don't think they're going to buy that. david: hard to watch them after the "snl" parody over the weekend. let's go the hillary vaughn, live inside the beltway with the latest on this. reporter: former new york city mayor michael bloomberg has not raised more money than other candidates in the race, but he has already outspent all but one
of them in tv ads in his first official few days as a presidential candidate. his late entry into the field is being made up for with a media blitz outside of early states like iowa and new hampshire. spreading $30 million in 100 media markets around the country for a week of tv air time including over $1 million spent in new york city, los angeles, houston and miami. even though bloomberg has billions to drop on his campaign, the billionaire took advantage of a free platform to get his message out, answering questions from followers on instagram live. >> my plan is to tell everybody why i want to run, how i think we can do better, and why they should vote for me, and that's what campaigns are all about. so hopefully you'll pay attention and listen. i'm looking forward to it. it's going to be a lot of travel and a lot of talk and a lot of shaking hands. reporter: bloomberg's entry into the race raises questions about conflicts of interest not just
with his expensive business holdings but also with his news service, bloomberg news, whose editor in chief said the website will not investigate any 2020 democrats, including their boss, out of fairness but still, they'll investigate president trump who they say is fair game because he is president. the editor in chief writing in a memo to employees saying quote, there is no point in trying to claim that covering this presidential campaign will be easy for a newsroom that has built up its reputation for independence in part by not writing about ourselves. also, bloomberg's editorial board says they will not post any op-eds about any of the candidates including bloomberg. david? david: going to be tough. charlie gasparino saying they may actually have to sell the news division which would be something. thank you very much. so can mike bloomberg edge out the competition in a crowded field that includes some campaigning against billionaires like himself? to democratic strategist capri cafaro on the former new york city mayor's odds. so bloomberg is exactly what liz
warren and bernie sanders are talking about when they say we shouldn't allow powerful rich people to buy elections. right? >> well, him and tom steyer. look, though, i personally think there's a good reason why the former mayor of new york, mike bloomberg, got into this race, and i think it's because, you know, he made the calculus, he's been watching the candidates right now and we basically have two groups, folks like bernie sanders and elizabeth warren that, you know, are lurching very far to the left particularly on economic issues, and then you have, you know, a more lackluster crop of centrists and moderates with a pretty weak performance out of former vice president joe biden. so i think mike bloomberg basically thought to himself look, there's an opportunity and frankly, a need for someone to come in that maybe is more, you know, pragmatic when it comes to economic issues but more liberal when it comes to social issues, and there are a lost folt of fo myself included, that have really been disappointed in the
democratic field, looking for someone to fill this void. i think that's where mike bloomberg has come in. david: you are a moderate, clearly, but lot of people say the big energy from the democratic party right now comes from the progressives who would never go for a bloomberg. >> that very well may be true to an extent. it is going to be an uphill battle for mike bloomberg in a primary but here's what i would say about that. you have to look at this on a case by case basis, state by state basis, and how primaries are structured. some states have open primaries where anybody can go in and pull a ballot and vote for the candidate and some have closed primaries where you have to declare your party affiliation beforehand like the state of new york. ohio is an open primary, for example. new york is a closed primary. so you have a lot of independent-minded moderate individuals, maybe people that are, you know, not super-frequent primary voters but you know, are disappointed in president trump and looking for an alternative. they certainly could go to mike
bloomberg and sway this race. so i think that, you know, he could really shake things up. david: very quickly, we only have about ten seconds, what will he do to biden's chances to get delegates? >> i think he hurts joe biden. david: yeah. all right. simple, short, sweet. thank you very much, capri. always good to see you. appreciate it. meantime, more polls showing impeachment support is weaker in the key battleground states. president trump's former senior adviser steve bannon thinks the impeachment push will backfire on democrats. listen. >> i think adam schiff did the president a great service this week by having these hearings and letting people see what's going on and now you are seeing in these 31 districts many of these congressmen have to go home and defend this. it will be a tough week for democrats. david: to former white house deputy chief of staff karl rove. great to see you. do you think steve bannon is right? >> i think the democrats have overplayed their hand and i think they are going to face
resistance among a key group of swing voters who have apparently, even if they don't like the president, they have yet to be convinced that there's something that would cause them to vote for the congress to vote for his removal from office. so far, the democrats have had high expectations and underdelivered. david: they also have a very imperfect spokesperson in the form of adam schiff, who a lot of people think has been trying to sell the public false goods for awhile. first he said he had hard evidence of russian collusion, then we had mr. mueller come out and say not so, so you have this imperfect salesman who is taking center stage. that couldn't help them. >> no, not at all. look, i have had a personal experience with mr. schiff and investigations. he was investigating, the lead for the democrats in the 2007 investigation of the bush administration's removal of five u.s. attorneys. so i have spent roughly ten
hours one day being interrogated by schiff. i was completely unimpressed and it was completely partisan and he made a series of allegations following that that turned out to be simply, you know, not -- any basis in fact whatsoever and even an obama administration investigation of the matter came to an entirely different set of conclusions and no actions were taken. but according to schiff at the end of this ten hours of testimony, behind closed doors, under oath, all kinds of bad things were going to happen. none of it came to fruition. this is the fundamental problem for the democrats. when impeachment has been done successfully, that is a broad national consensus has formed behind it. we have seen one in the last 50 years in the richard nixon impeachment. the chairman of the house judiciary committee was so impartial and fair that at the end of the process, advocates for president nixon applauded his fairness. you had a republican chair -- a republican lead counsel, the president's lawyer was in all of
the meetings, the president's lawyer was able to suggest witnesses and to ask questions at the end of the presentation of any evidence, the president's lawyer was able to frame it from the president's perspective. none of that happened in this, and it's hard enough even when you do that to get a broad consensus. the republicans in the clinton impeachment followed the exact same pattern that democrat peter rodino had done in the nixon investigation and they were still unable to form a consensus that president clinton should be removed from office. democrats are not doing it the way they have done it in the past and as a result, it's even less likely to produce a large national consensus that president trump should be removed from office. they can't prove that he did something that's worthy of being impeached. david: to your political point, many people point to will hurd, the moderate republican, who has no reason to vote reflexively for donald trump. he's been pretty straight down the line in support or opposition depending on the issue. but he's saying this doesn't rise to impeachment shows that
virtually no republican is going to join with democrats on this. right? >> well, you know, this is an interesting thing to me, because if you watch -- the democrat response to all this is not hey, maybe we aren't proving our case. it's why aren't the republicans coming across and supporting our perspective. they are being backed up in the media. i was shocked, one of our cable competitors this morning in one of their political newsletters, in talking about joe biden and hunter biden, said there's no evidence of wrongdoing by the bidens. they are bending over backwards, the media, to support the democratic narrative that what the test is here, is why aren't the republicans breaking from trump, not why aren't the democrats making a case to convince people to come across to join them and they are also treating the bidens as if there was no problem with hunter biden going on the burisma board while the vice president of the united states, his father, is lecturing the ukrainians about how they need to step -- david: by the way, that's a different story from the story we were hearing back in 2015.
when the "new york times" actually editorialized that hunter biden had to step down from the board of burisma because there was too much conflict of interest. >> exactly right. the "new york times" broke this story with a piece by james rison who is clearly not center right, is center left, and was quoted, a whole series of anticorruption experts inside ukraine saying doesn't the obama administration get the weirdness of having hunter biden on the board and his father lecturing us about anticorruption, as much as we support those efforts. david: we got to go. as they say in politics, sometimes in journalism, not here, though, don't let facts get in the way of a good narrative. i think that plays out here. karl, great to see you, my friend. thank you very much. appreciate it. >> happy thanksgiving. david: to you as well. audiences just can't let it go. "frozen 2" setting records and setting a new path for disney. >> has elsa seemed weird to you?
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doing what he does on camera, et cetera, but then he gets these incredible orders and the stock is doing well. had another bump today. >> new rule, whenever you reveal a new auto, just screw up and you get a lot of orders. it's the best way i can put it. look, there is tesla carries i guess the word cachet when they come out with new cars. this one, i'm not so sure the look of it but i guess i'm wrong. people are jumping all over it and with the stock, there are still 33 million shares short, when it gets on the move to the upside, they have to cover squeezing the stock even more. that's what you have been seeing over the last two or three weeks. david: you and i, we talked about this on "bulls & bears" last week about how we didn't like the look of the car. we wondering whether the truck buyers were going to buy a truck that looked so different, as this one does. i'm wondering how many of those 200,000 orders are from people who never had a truck before, who just like the idea of this
kind of super-futuristic look. >> i'm sure they are going to do, you know, a little survey of who they are. i think the bottom line, it's the futuristic thing, the "mad max" thing and so far, so good. if this is just the start, that means there's going to be a heck of a lot more bowing soeing sol forward. good on elon, as they say. david: ford sold over a million trucks in 2018. if those orders stick, if people really go ahead and buy and they can deliver, again, there are questions about whether tesla can actually deliver, do you think they will take away market share from ford and gm? >> i'm not so sure of that. i know a lot of ford owners. they are ford owners. i can tell you. i'm not so sure this will play well in boise and jackson hole. that's ford country. david: talk about market share. disney keeps killing it on its market share. "frozen 2" making $350 million
worldwide in its opening this weekend. that is the highest grossing debut for any animated film globally, ever. all time. so gary, disney, just can't do anything wrong. >> oh, that elsa and oh, that olaf. look, they just got game when it comes to animation. it's the number one for disney also. let me just tell you the other part of the equation. it's now thanksgiving week and all the kids are out of school, so expect to see some real smash in records this coming week also. by the way, i went to see tom hanks and i was wondering why there were so many cars in the parking lot. as we walked to the movies, all these little girls were wearing elsa outfits and there's your answer. david: yeah. it's everything. it's not only the movie, it's the outfits that go with it. i just want to put up the market, if you can put up the dow right now because we are over half a percentage point to the plus side. we are very close to our
intraday highs. 145 to the plus side, well over 28,000 again. how long can this continue, gary? >> well, i started saying about four weeks ago, when jay powell went even easier, that i think we can have a nice end of year run and i think we are in the midst of it. i think we are just going higher. it's actually even though we are overbought here, little bit frothy, it seems to be feeding on itself, and the right areas are leading, financials, semiconductors, technology. when they lead, not much happens. any pullback i think is buyable into the end of the year. the president should thank jay powell and give him a lifetime membership to mar-a-lago for what he's doing. david: he just had a private visit with jay powell. we don't know exactly what happened. i don't think there was any lifetime gift that he received. but certainly he hasn't been doing bad recently. good to see you, gary kaltbaum. thank you very much for being here. appreciate it. meanwhile, president trump honoring the dog that chased down terrorist al bagbaghdadi.
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for every dollar you spend at a small business, an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th. david: the white house weighing another round of tax cuts. that's always nice. so are we going the see more tax cuts before the 2020 election or at least an announcement of them during the campaign? to national taxpayers union executive vice president brandon arnold. good to see you. so as we look at a dow that's once again over 28,000, today it's up about half a percentage point, how much of the tax cuts are responsible for this tremendous market we have going now? >> the tax cuts are obviously playing a large role in our strong economy. i think the incentives we placed for businesses to locate or stay on united states soil are huge. i think the reductions we've had
in taxes for individuals and small businesses has really put more money into people's pockets. that's fueled a very strong consumer sector which is obviously the strongest part of our economy currently. they are playing a huge role. i think it is time to consider what we are going to do next in terms of tax reform 2.0. david: what would be your advice to the president as far as that goes? >> the thing that i think really needs attention is capital investment. we are going to see portions of the business expensing provisions start to roll off the books in a matter of years. i would like to see those expensing provisions made permanent. i would like to see them even expanded. right now you can expense factories and equipment fully and completely which is fantastic but if we expanded that to include structures, i think we would see a great deal of capital investment in this country. that would fuel long-term job growth. it would be very very good for the economy. david: that's all very technical. i understand what you're saying, i think most of our audience does, but the point is, something more simple like a payroll tax is something we have been hearing more about.
that sells better on the campaign trail. would a payroll tax reduction which would affect most americans, certainly all who work, would that be effective in pushing the economy forward? >> i think it would help the economy. it would put more money in people's pockets and again, that would strengthen our consumer sector. i don't think it would have the long-term job growth that would be associated with more business oriented tax cuts. but i think the beauty of tcja back a couple years ago was that it married pro-growth provisions with pro-family, pro-small business provisions. so it kind of hit the best of both worlds. we had good politics, we had good policy, and that's why we have seen a strong economy ever since. david: we should mention, by the way, for all those naysayers who said if you lower tax rates, you will have much less revenue and that's going to affect the deficit, now, the deficit has increased because spending has increased tremendously, much more than i think it should, but on the other hand, we have had record revenue increases, have we not?
>> revenue -- the revenue projections have been pretty solid. the spending is a much, much bigger concern, particularly on the long -- even the medium term horizon right now, because of our entitlement programs in particular social security but even more so medicare is facing some structural problems that if we don't resolve, we will have major, major deficits and major debt problem going forward. david: politically, people just aren't going to be talking about that going into an election. it ain't going to be a subject at all. very quickly, the one thing we didn't get from the first, the trump 1.0 tax cuts is tax simplification. we heard a lot about it will all be on one card but it never happened. could that be sold to the american public, the american voters, before next election? >> i sure hope so. americans currently spend a combined eight billion hours each year complying with tax -- david: i hate that. yeah. >> i bet. i bet. we improve that slightly with tcja. i think we have made some small
improvements. there's a lot more work that can be done. hopefully that will be part of the equation. that really requires a comprehensive tax overhaul. right now, it seems like from where the democratic candidates are going, there's a pretty big gap between where republicans on the hill and this president are and where democrats are. it's going to be tough to get to a point where we can actually -- david: but americans will have a very clear choice, either lower taxes or higher taxes. that's the choice i think they will get going into the election. great to see you. thank you very much. >> my pleasure. david: well, an e. coli outbreak is expanding ahead of thanksgiving. that's not what we need. what you need to know about that right after a break. 1 in 5 people you meet wear dentures.
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me and my wife rely heavily on our faith and we practice living our life one day at a time and moving forward like that, and we always choose positivity as a family and that really -- that really helps because at the end of the day when you're in sort of a dark tunnel, you know, it's a light at the end of the tunnel and that light really is yourself. david: a really decent game who came out of something that was bad. mike "the situation" sorrentinno discussing how he's helping others with addiction and recovery. he's been clean for four or five years. the number for the hotline that he mans is on the screen right now. 888-270-5712. we wish him well. and his family. it's one of the biggest
luxury deals ever. louis vuitton parent company buying tiffany for more than $16 billion. tiffany taking a big jump as a result of this announcement. jackie deangelis on that and more from the nyse. jackie: good afternoon. that's right, you can see from the chart the street definitely likes this acquisition. lvmh buying tiffany, more than $16 billion. $135 a share in cash. lvmh has such a strong portfolio. adding tiffany to it is only going to increase that brand power and give it access to consumers here in the united states in a more pervasive way because everybody knows that little blue box. it's so interesting because even though people feel that way about difference titiffany, it' little bit even though it's been doing better. it obviously can fall prey to economic cycles as well. investors have confidence that lvmh getting involved here is going to be good for that. meantime, schwab and td
ameritrade, we talked about this, but it is official as of today. a $26 billion deal. schwab is buying td. this is merging two of the biggest discount powerhouses out there to create a company that's a combined $5 trillion. so this is major. remember, schwab was the one that went out in october and got rid of the fees, the commissions, and really was a disruptor in the industry, setting the stage for all of this consolidation. these two really got their good move in terms of the stock prices last week but they are still higher on this news today. td ameritrade up another almost 7%. david: wow. good luck to those who hold that stock. that's good stuff. jackie, thank you very much. we want to turn now to hong kong, where protesters are demonstrating in the streets. this following a landslide victory for the pro-democracy candidates there. china couldn't be too happy about this. jonathan hunt is live in hong kong with the very latest. hi, jonathan.
reporter: hi, david. there was some speculation that given the size and manner of their political victory, pro-democracy activists might put on hold the street protests but that was proved completely wrong tonight. protesters back on the streets near the campus of the hong kong polytechnic university, demanding what they call the liberation of a couple dozen students still holed up in that campus. it was, though, also something of a celebration, given that they have now won 90% of the district council seats that were up for election. a huge victory as one leading pro-democracy activist told us today. listen. >> silent pa jort expremajority their voice by their vote. reporter: still a long way to go. >> we will continue to fight until the day we get free elections and the victory of
hong kong. reporter: now, more than 70% of hong kong's four million registered voters turned out and gave that victory to the pro-democracy activists, leading some pro-beijing lawmakers to admit it is time for the hong kong authorities to accede to at least some of the protesters' demands. listen again. >> obviously we have to think twice about answering people's call from now on. reporter: a real wake-up call for the government. >> if you like, the real wake-up call is a slap in the face, really. reporter: the big question is how does the chinese central government respond to that so-called slap in the face. do they now decide to try to accommodate the protesters to some extent at least, or do they move even more quickly to crush
the pro-democracy movement? david? david: people have spoken. jonathan, thank you very much. meanwhile, back at home, a lettuce recall expanding to more major retailers and all this just in time for thanksgiving meals. federal agencies warning the lettuce may be tainted with e. coli. grady trimble has all the details for us. grady? reporter: hey, david. we are specifically talking about romaine and more and more grocery chains are pulling romaine lettuce from their shelves. the latest to do so is kroger. they join a long list of others that already had over the weekend, including right here at walmart, target, aldi, wegman's and many others. there have been 40 cases of e. coli linked to romaine in 16 states including here in illinois. 28 people were so sick, they had to go to the hospital. we are talking about all types of romaine, including heads of romai romaine, precut, hearts of romaine as well as salad mixes and kits. this is specifically romaine
grown in the salinas growing region of california. after two outbreaks of e. coli tied to romaine last year, the producers of romaine lettuce started providing on the bag the details of where it was grown, so you should be able to look and see where it was grown. but the cdc says simply put, if it isn't labeled with a growing region, don't buy it and if you already have bought it, you should probably throw it out. i guess the moral here ahead of thanksgiving is don't have the romaine, have a little more sweet potato casserole or whatever your favorite side is. david: at least it didn't affect turkey. that's one good thing. thank you very much. good to see you, my friend. well, the new warning about working too much. why it may not only be bad for workaholics but for everybody else also. stay tuned. i'm your 70lb st. bernard puppy,
and my lack of impulse control, is about to become your problem. ahh no, come on. i saw you eating poop earlier. hey! my focus is on the road, and that's saving me cash with drivewise. who's the dummy now? whoof! whoof! so get allstate where good drivers save 40% for avoiding mayhem, like me. sorry! he's a baby! david: a day visitors at the white house today. president trump first of all honoring the dog conan who
assisted in the death of isis leader baghdadi. blake burman is live at the white house with the latest on this. i don't think anybody saw this coming, did they? reporter: you never know what you're going to get out of this white house on a day-to-day basis. today's surprise was just another example of that. you're right. we had no clue. today, seemingly out novembwher around noon, we were told to go into the rose garden, which we did. shortly after that, emerging out of the oval office as you can see there, the president, the first lady, the vice president and conan. the belgian melinois, the hero dog that led to the arrest of b abu bakr al baghdadi. the president today said conan has recovered and will continue to work alongside top u.s. forces. cool moment in the rose garden earlier today. live look at the white house
now. within the next 30 minutes or so we are expecting the leader of bulgaria to arrive and to meet with the president. energy, russia, nato expected to top those talks. we could be hearing from the president once that begins. so within the next 30 minutes or so, potentially, president trump on camera once again. david: it is a gorgeous day in washington, as it is in new york. it's a springlike day. we saw the christmas tree delivered. when will we see the lights on that and the rising of the christmas tree in washington? reporter: good question. that's on the south portion of the white house, the national christmas tree that ends up being placed over there. it is a spectacular sight. i'm sure you have seen it, if you have ever been to washington around christmastime. south side of the white house. david: i grew up in d.c. i remember we went there every year. blake burman, great to see you. thank you very much. enjoy your holidays. well, working too much is sparking income inequality. that's what new data says that
those with higher incomes were working more and that is creating a bigger divide in the labor force. to "making money" host charles payne. charles, first of all, it strikes me as something off, because it shouldn't be bad that we are becoming more productive. right? charles: i agree 1,000% and you know, i think there's a subtext here. when you get these articles, this particular author and this particular newspaper about this whole new idea people should be working less anyway, so i think there's a double shot. the shot at folks who like to work in part because they want to be successful. it's not just about the money. and on top of that, there's this sort of push for income inequality so to diss hard work on two separate tracks, i think both of them are disingenuous. david: they are. on the other hand, you have been very clear about this, there are these inequalities that have developed over the past couple
decades in america, that people with a college degree have increased their income enormo enormously, while people with just a high school degree have seen a fall in income and that has created this bigger divide. i would point out this is happening exactly when we tried these big government efforts to solve that problem, and those big government efforts have failed. charles: they have failed. listen, the war on poverty that began over 50 years ago began in appalachia. if you walk those same trails, wouldn't see much of a difference. same with the urban areas, they touted this was going to be a special cure driven by the federal government. for me it's about the same tide lifting all ships. i get into a lot of these areas, particularly last week it was determined that atlanta, for instance, has the worst income inequality in america, that they come up with these weird -- these rules that don't allow poor people to go on, to get on the ladder of success, to climb it, because when the focus is on higher minimum wage, you are still at minimum wage.
if someone would wake up and say forget about all these government things, just open it up, allow everyone to get out there and by the way, encourage everyone to get out there and watch what happens. david: the other thing is, the focus on education, the government's role, federal government's role in education, it's been totally misplaced. we have spent billions and billions of tax dollars offering these special programs on education and again, we see the failure of that at least in terms of improving the inequality. charles: the best thing they can do on education is to give all kids harder curriculum at younger ages. later on, trying to put people in college who weren't prepared for college, even in new york city, you and i know stuyvesent high school is perhaps the smartest high school in america if not the world. they spit out scientists all day long and the largest portion of the school happens to be asian kids. they earned these spots. now there's talk of taking these spots much like they do in
harvard and giving them to other kids who didn't earn them. you can argue about whether or not these kids should have gotten these spots or not, but the problem begins in k, kindergarten. these asian kids, their parents demanded they learn the hardest stuff, that they do the hardest homework and that's why they should be rewarded with the slots at these schools. same with harvard. they lost a major court case, i'm still shocked they lost that, but we got to teach our kids at an early age instead of trying to fix it later on which disadvantages everyone. david: what was offering hope on that front, things like charter schools and things like options where you would provide these vouchers to poor families to give them the options that wealthy people have now, to send their kids to the better schools, those options are being denied. charles: it's so nuts. i was on the board of a charter school in the south bronx. i'm interviewing a kid on a board in a charter school in new jersey a week from now. elizabeth warren doesn't like charter schools when her kid
went to a $30,000 a year private school. the hypocrisy of these people knows no ends, none, zero. it's mind-boggling. they want it for their children but they think everyone's kids are too dumb, too slow. there's something they don't like. it's the bigotry of low expectations that get you every time. david: there's one other thing. the old adage follow the money. you look at the money these politicians get from the teachers unions and they are dead set against charter schools, dead set against the kind of options that would be provided by vouchers and i think the pressure from the unions is preventing a lot of these politicians from going in the right direction. charles: it's a lot of money and it's a huge reliable voting bloc. david: "making money." we will watch it right after this show. thank you, charles. great to see you. nba season about to get a whole lot shorter. nba reportedly considering shortening to just 78 games. more details on that, right after this.
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david: the nba is reportedly considering shortening its regular season to 78 games. let's go to dle agency founder, doug eldridge. good to see you. what's going on here? >> well, it's interesting. we are really struggling with fan apathy, which is to say disinterest in the regular season among nba fans. what they are looking at doing is predicated upon the european soccer model. they are talking about shortening it from 82 to 78 games during the regular season, then implementing a midseason tournament, mandatory for all 30 teams, then an end of season play-in tournament all of which is intended to shuffle not only
the rankings at the end of the season but spike the interest in the middle of the season where they are currently lagging. this isn't just opinion. there is quantifiable justification for this. over the last two years there's a 27% drop in nba televised games across tnt and espn on the heels of a 14% dip in the nba finals viewership. the problem is very real. the trend line is skewing negative. they are pulling out all the stops. david: i see the problem but i have to admit, sometimes you can overdo it with the tournaments just like you can overdo it with awards. we began to see hollywood have beyond the academy awards, all these extra awards, and fan interest began to wane a little bit. i'm wondering if the same could happen with the nba. >> my dad used to say it's like overcorrecting on ice. when you start to skid, don't jerk the wheel. hold it steady and guide yourself out of it. there's a couple things at play here. number one is injury among key players, because the nfl versus the nba model, the nfl is largely marketed on a team basis, where the nba is individual players. so if you are hanging your hat
on that, it's like a non-diversified portfolio. there's no risk mitigation. if your star athletes get injured and are out for the season like steph curry or kevin durant. the second is load management which is to say the prescheduled yet aun nouannounced sitting of star players especially among heavy road swings and finally, the political painting we saw recently with the hong kong issue. they try to keep politics out of it, yet they seep in. like water seeps in a rock and cracks it when it freezes, you are starting to see fractures here. there's not one single stripe but it's the totality of it. they are trying to mitigate that as much as they can. david: you made the political segue and we will stick with that. no nfl teams have reportedly contacted colin kaepernick since his workout. are you surprised about this, doug? >> yes and no. here's why. i have said from the start that i hope he gets a chance, but i have always been very clear by saying the nfl is a privilege, not a right. nothing is owed to colin any more than it is the other 1500
players in the league. if we are being really candid, i don't think colin did himself any favors insofar as how he comported himself in the workout, from the teeshirt to last minute location change, but he doesn't bear all the blame. the nfl didn't button this up and dot all the is and cross the ts before formally announcing it. it should have been handled completely differently. as a result, you have a bilateral public relations nightmare. essentially there's no winner coming out of this. there's no winner. i have to say, if you were my client, there's a degree of self-sabotage here. i don't think he did himself any favors. i was disappointed to see that. david: he keeps pouring salt into the wound. he just tweeted out, i'm quoting a tweet here, stop running from the truth, talking to the nfl. stop running from the truth, stop running from the people. maybe he's the one who's running away from the truth. they just don't want him. they don't think he's good enough. >> i certainly can't speak to his heart but if i were his agent or publicist, i would certainly have a shorter leash on his twitter account. again, even when my own nfl clients come and say dougie, i
wish the guy could play again but he's shooting himself in the foot but put it in context. the average nfl career is two and a half years. guys come in when they are 21. by the time they're 25 statistically they are already out of the league. it's that competitive and it's a $14 billion landscape. there is nary the space or latitude for this type of stuff. from the balance sheet or just from the fan base. that's what i mean when i say there's an element of self-sabotage. i'm certainly rooting for him in the context of i want to see him succeed, what type of agent would i be to root against a player, what type of person would i be to root against the man. i want to see him succeed. but he's got to make some course correction decisions here. david: from self-sabotage to self-interest because fox is the one who will be broadcasting the super bowl this year. super bowl ads selling out early for the first time in five years, as i said, fox sports is hosting this year's super bowl. i'm surprised, by the way, that $5.6 million for a 30-second ad is better by $300,000 than it was last year, and selling out this early is unusual, is it
not? >> very much so. but again, let's put the numbers to the test here. 5.1 to 5.6 is the range. so not only did you sell out, you meaning the fox family, sell out long before previous years, i think as a matter of fact you have to go back to 2013 but that was when fox had it and they announced in december, made the announcement before thanksgiving this year which is tremendous. not only was it early but also record rates for the 30-second spots. but there's also a couple things that play into that. typically there's five commercial breaks per quarter. fox chopped it down to four so there's one less break per quarter. four less breaks. fox business, basic supply and demand. supply goes down, demand increases so there's a proportionate increase in terms of the rate. one of the biggest things is the fact that people underestimate, which is funny, right, the impact that super bowl has for networks. nbc reported, what, nearly half a billion dollars, $500 million, so to speak, in terms of super bowl-specific revenue in 2018. this is tremendous. so to have this front end
sellout for fox and then to be selling the pregame and post-game spots at two and three million dollars apiece? that's unheard of. kudos to the sales team at fox. david: absolutely. great sales team. by the way, cbs, when they were selling ads, they didn't sell out until just hours before the game itself. so to do it more than a month ahead of it is extraordinary. hey, got to leave it to that. great to see you. thank you very much for coming in. the s&p 500 and the nasdaq, notching new highs amid fresh trade hopes. we'll have more on the market and what's happening with business across our great nation, across the world, coming up. . .
markets, economy, politics, we got it all covered. as does my good friend, charles payne, who takes it from here. it is always yours. charles: thank you very much, david. good afternoon, everyone. i'm charles payne and this is making money. sounds like a broken record. but i love it. record territory. new highs begat new highs. news from the chinese government on intellectual property. general optimism on economy and earnings going into 2020. how much better would the economy be talking about everyone optimistic? shocking numbers, showing a stark contrast on sentiment. politics showing deep divide on success and prosperity. elon musk getting the last laugh. smashing orders. tesla cyber truck bringing in despite the smashing windows. all that and so much more on "making money." ♪ charles: at the moment the s&p 500 and nasdaq hitting