tv Bulls Bears FOX Business December 31, 2019 5:00pm-6:00pm EST
hours almost from now. i would not want to be in the crowd, i've got to be honest. >> i wouldn't either, but it's always spectacular, it's so iconic, and now we're leaving 2019 behind. 2020, here we go. bring it on. ashley: bring it on. that does it for us. bulls -- ♪ ♪ david: happy new year, everybody! you are looking at athens, greece. that is the parthenon. they've got it lit up beautifully. there you see the fireworks. it is a new year in athens right now, 12 midnight. just to give you a little perspective. also in capetown, south africa. we have a live shot. you are looking live at athenss, greece, right now as the parthenon is the brand space for that celebration over there.
and we are just seven short hours away from the ball drop here in new york city as well. this is a look at times square live where a million people are expected to fill the streets. we'll fill you in on all that. and from times square to wall street, what a year, what a decade it's been for stocks as they close out the very last trading day of 2019 in positive territory, turned around at the end of the day. it's the dow's best year since 2017 and the s&p 500 and nasdaq's best year since 2013. the dow's more than 170% gain since 2010 now ranks as the fourth best decade-long performance in the past 100 years. and now there's new hope that the celebrations will continue well into 2020 as president trump announces a breakthrough in the china trade deal. hi, everybody, this is "bulls and bears." again, happy new year to you. i'm david asman. joining me on the panel today, jonathan hoenig, liz peek, kevin
kelly and john burnett. well, the president delivering a surprise new year's eve tweet, quote: i will be signing our very large and comprehensive phase one trade deal with china on january 17th. or 15th, excuse me. the ceremony will take place at the white house. high-level representatives of china will be present. at a later date, i will be going to to beijing where talks will begin on phase two. so the question for our panel, if the china trade issue is finally on the back burner, what impact is this going to have on the economy and the markets going into 2020, john? >> well, president trump said that we will never be a socialist country. he actually meant it. when you look at this past year, this has been the year of the working class. we've seen wages rise, we've seen, you know, first in terms of a robust job market where we now have more job openings that we have people seeking jobs, right? and we also have people that are already employed. guess what, david?
they actually have mobility, job mobility is key. and we also see the huge burst in the stock market, right? when we look at the dow, 22%. s&p, 28. nasdaq, 35%. the wealth gap is actually closing through the hands of, what? fiscal policy. fiscal policy that's conservative. david: well, and liz, to john's point, i'm holding in my hands 21 pages -- [laughter] of notes from the president's white house about the economic changes that have been put into place from this and during this administration. and it's quite significant. everything from deregulation to taxes, to trade deals, to revitalizing the energy industry, defense spending, etc. >> yeah, look, the president's taking a victory lap, and it's well deserved. you mentioned the two most important things, deregulation and tax cuts. that's what he ran on in 2016, that's what he's delivered. and i think with all the naysayers saying it's the 1%
that's benefiting, trying to diminish the impact of these things, we know differently. we know that businesses have expanded, invested, as john said, lots of new jobs being created. i think what's really exciting now is that gdp estimates, growth estimates for 2020 will beginning to ratchet up because we see a recovery in the housing sector thanks to lower interest rates and the fact that people are ready to own their own homes. you've got a huge reliance on rentals, and that's going to change. so that's just another thing to be excited about next year. >> i don't want to splash cold water on this parade here -- [laughter] but is trade really on the back burner? i mean, david, is the deal out? have i missed the deal? david: you missed the tweet which said that on january 15th they're actually going to be signing phase one of the deal. >> we have been hearing that, i'm just going to say, the entire year long -- david: we haven't heard a specific date -- >> and i think peter navarro came out and said that it's in the bag. i think there's been a lot of commentary -- >> i hope it is. i hope it is. the real reasons for the trade war, whether it be the trade
deficit or the ip theft, all those reasons, haven't been addressed yet. and, of course, there's been a promise of new tariffs on europe and other countries. but, look, i hope the trade war is in the bag because i think there's reasons to be bullish. this economy is still the most individualistic, the most capitalist, the most successful in modern history. and to john's point, as long as we stay capitalist, as long as we stay free, there's no reason that momentum can't continue. >> well, the issue with the chinese trade deal too that we, that's yet to be determined is, one, will the chinese actually buy the amount of agricultural products that this administration is expecting. and then the second point is actually enforcement. so i think those are two really up in the item, up in the air items that haven't been addressed yet. and only time will tell, but we are going into an election year, and the chinese know they actually have this administration pinned in a corner that he needs to do something and actually make headwinds in this regard. now, when it comes to the market, i think we actually do need to focus on focusing on the
fiscal policies that are working as the efficacy of monetary policies start to slow. we've seen the fed has been completely accommodative this year, and so the markets have done really well, but can they be next year with inflation starting to pick up? we saw today alone coming out from paychecks that average wages have gone up 4.1%. that is very, very good, but that could lead to inflation which could push the fed to actually wanting to tighten now. david: but, john, you think of the follow through, it's extraordinary that this president, first of all on trade deals, you know, he talks very tough on tariffs. he sometimes applies the tariffs. but then he eventually gets a trade deal done whether it's usmca or china. i i know it's just phase one, but the fact is he got phase one or he's about to sign it. so it's the follow through. when deregulatory policies are just extraordinary, the tax policies. and there is more to come. >> we saw, what we saw wasn't
vast between the u.s. and china -- was a dance. and we're going into phase two. and there's a lot of optimism coming up in terms of, like kevin had mentioned, in terms of enforcement. i believe china will actually deliver in terms of the amount of goods that they said they're going to produce. what i'm most concerned about is what they're going to do with hong kong. it's things like that. outside of the economic elements, it's more so the military action and the threat of military action that might actually undermine this deal. >> yeah. and i want to kind of push back on the fact that this is not all about how many tons of soybeans we produce next month or whatever and is imported by china. if this really -- what president trump has done, i think very successfully the, and alone amongst recent prime ministers, is call out china for all the bad things they've done. the world is talking about this now, the world is watching. and they are watching in hong kong to see what beijing does. up until now, for example, the muslims that have been locked up, the uighurs, no one was talking about that.
the by the way, there was reporting on it. no one talked about it because it was impolite, and no one wanted to poke the tiger. this president has poked the tiger. hundreds of companies have moved their operations -- >> but, liz, at what cost? >> jonathan, that's a good thing. >> at what cost? >> you tell me, i mean, the markets is at all-time highs, etc. >> i'll let the federal reserve tell you, 1% cost to gdp, a loss of jobs in manufacturing and higher costs for producers and consumers -- david: jonathan, it's not correct to say, yes, there was a pullback on manufacturing jobs, but we had 500,000, we had a pullback of about 30,000, so we're still ahead by about 450,000. >> withdraw ahead. david: these are jobs, by the way, president obama said were never going to come back. >> the gdp too, to jonathan's point though, is not actually apples to apples because the ip theft actually takes off of our gdp that was happening over in china. so that's why you've seen -- >> yeah, and -- >> coalesce around this administration.
>> and the uncertainty created by the trade war also has a cost to the gdp. >> what you're not addressing is the alternative to what. if we kept on the same path, right? we have a nation of millennials, right, and people in middle age that were ready and set to embrace socialism. david: well, we have to go, but i just have to say we have never seen in my lifetime a jobs situation like we have now where we have a million more jobs than people seeking jobs. i mean, in my eyes, jonathan, that's spectacular. of could it have been more speck spectacular? yes, perhaps, but spectacular's good enough for me, at least for 2019. maybe 2020 we want more spectacular. all right. president trump pointing the finger at iran for attacking the u.s. embassy in baghdad. could this latest escalation lead us down the path to war? we're going to be asking lieutenant commander jasser coming up next. let's look at australia, which
is ringing in the new year. that's sydney. ♪ ♪ ♪ ♪ everything your trip needs for everyone you love. expedia. by consolidating your credit card debt into one monthly payment. and get your interest rate right so you can save big. get a no-fee personal loan up to $100k. get a no-fee personal loan most people think as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business.
david: president trump is blaming iranr dozens of militia members stormed the u.s. embassy in iraq. the president tweeting this just in the last hour, quote: the u.s. embassy in iraq is and has been for hours safe, exclamation point. many of our great war fighters together with the most lethal military equipment in the world was immediately rushed to the site. thank you to the president and prime minister of iraq for their rapid response upon request. iran will be held fully responsible for lives lost or damage incurred at any of our facilities. they will pay a very big price. this is not a warning, it is a threat. happy new year, exclamation point, end quote. well, around a hundred u.s. marines have been deployed to the u.s. embassy in baghdad to bolster security there, is and an army apache helicopter flew
over the embassy dropping flares in an attempt to disburse the crowd. trey yingst has more. >> reporter: good afternoon. a tense last day of 2019 in the middle east as hundreds of iraqis stormed the american embassy in baghdad prompting iraqi security forces to respond. those protesters setting fires and also smashing glass windows on the compound, many chanting down, down usa. reports indicate the embassy is on lockdown, and american citizens are still inside. the ambassador is out of town, though embassy security forces were seen trying to push back demonstrators with tear gas and rubber bullets. today u.s. secretary of state mike pompeo spoke on the phone with the iraqi prime minister to reiterate that the u.s. will protect its people. later in the day the president trump also spoke with the prime minister. the president also taking to twitter to call on the iraqis to protect this embassy saying the situation was orchestrated by iran. this comes after u.s. airstrikes
on sunday targeted an iraqi shia mill a shah group -- militia group responsible for attacks on friday that killed one american contractor. the group that was hit has vowed to respond against the united states. >> translator: it is flagrant aggression. it is aggression on iraq's sovereignty. it is a violation of all norms and values. this aggression won't pass up punished -- unpunished. >> reporter: i spoke with one u.s. official who wanted to reiterate the point that the demonstrators today at the embassy are not the oral demonstrators we've seen over the past few months in the streets of baghdad and surrounding cities. many of these protesters are linked to iranian-backed militias in iraq, something very concerning to u.s. forces. as we do know, they are armed and in some cases dangerous. david: trey yingst, thank you very much. here now is former u.s. navy lieutenant commander and forum for democracy president dr. dutity whereaser.
if iran is controlling all of this, this is the iraqi version of hezbollah, how should we respond to iran itself? >> well, it should be a response, as president trump has been doing, which is these are terrorists, these are acts of war. this is no different than the playbook in 1979 in which the khomeinis came to power, took our hostages and took over the embassy. remember, the real protests have been happening over the last six months which are the iranians protesting theocracy in iran and tehran, the iraqis protesting the control of iraq in baghdad and the lebanese protesting the control of lebanon by less blah. -- hezbollah. so what they're trying to do is shift it and they use every opportunity they can to respond to this or that. it is about ab act of terror, an act of war, and we need to bolster our defenses there. and this is what happens when president obama pulls our troops out of iraq and we leave an embassy there -- which we need
to have. all of the blood, sweat and tears we've had with troops in iraq, we are going to lose it more as iran continues to be on its heels and the regime is threatened by protests of its own people. >> this seems to be one of the strategic moves that iran is trying to do. they've been doing some moves over in the strait of hormuz with the oil tankers, and so, you know, are they trying to get a deescalation over there in the strait of hormuz and escalate tensions in iraq so they can actually get movement in regards to what's going on with their enrichment programs with nuclear weapons? it seems like that is really where they're wanting to continue to enrich, and they're trying to get the, you know, u.s. to take off some sanctions. so is this really just a strategic move for them in that regard? >> i think you're absolutely right and that they want us to have the shiny ball that they're
moving. one day it's yemen, the next it's in baghdad, the strait of hormuz, they're attacking tankers and other things. they really don't necessarily have a plan other than to continue to distract us. the legacy media other than fox continues to focus just on the anti-american element. they're not paying attention to that these are terrorist groups that are not only with iran, but they are iran. and iran has a real revolution that's happening, and they're ignoring it. the best anti-nuclear program, and i'll tell you the only anti-nuclear program as we've talked on this program for months is the revolution's support of continued pressure, the economy's collapsing in tehran, and they're continuing to try to spread into iraq and syria when, in fact, the people protesting in tehran are saying enough with the spread into syria, enough with the death to america, death to the khomeinis, is what they're chanting. so they're trying to make america and israel into the enemy. >> yeah, i wanted to ask you,
this is really an attack on america by iran or iran's proxies. is the administration's maximum pressure economic campaign, is that going to work, or is this eventually going to come down to a military conflict between the u.s. and iran? >> well, jonathan, it's like treating cancer. patients get a lot sicker before they get better, is and we are headed in the absolute correct direction. you can't stop their nuclear ambitions, their terrorism through syria throughout the region and across the middle east unless we continue to allow the revolution to grow. but yet to make sure they never get that nuclear weapon. if that ends up meaning surge call strikes, this is why they responded with the embassy attack because they saw we were going to do strikes in baghdad and iraq if necessary, and we will do it in iran if necessary. because this is acts of war, and it needs to be responded in like, or they will continue to do the same into the future. >> so what can you tell us about the government of iraq which appears to be under pressure from all fronts? is this a government that we should or be and support and
hope that it democratically moves on to the next phase or not? >> well, this is what happens, you know? that question is so perfect because this is what happened when we lost the adult supervision in iraq as the tribes were vying for control, and now it has basically become a client state of iran. so general sulemani, who's basically leading this incursion into our embassy, is basically running the place, and the intelligence service in iraq has not become anything we can rely on. it's become an arm of the iranian regime, and we can't trust them. they are possibly still a barely a democracy by voting but not by any stretch of the imagination because of the control from iran. so we need to work with the demonstrators that are not demonstrating against democracy as some of the swamp said in washington. they're demonstrating against the coe maneys d khomeinis, the theocracy. this is 3.0 that we need to support and step aside from the
support of what is now the iranian regime in baghdad. david: it's extraordinary when you hear the prime minister call the hezbollah members that we killed in the airstrike martyrs. i mean, that tells you a lot about what's going on with the government. happy new year to you, zuhti, appreciate it. >> thank you. david: elizabeth warren begging for donations today as her campaign reportedly facing a big drop in fundraising ahead of tonight's deadline. why she could be losing steams only weeks out from the iowa caucus. and before we go to a break, let's take a look at south korea, the way they rang in the new year. of course, south korea's got a lot more activity than the north, doesn't it? ♪ ♪ ♪ limu emu & doug
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david: did liz warren peak too soon? senator warren is trying to rally troops in her hometown of boston today as her fundraising is down 30% from its peak, and she's down in the polls as well. the slide seemed to begin in late october when she was asked whether or not he agreed with a study on medicare for all. listen. >> an economist at the university of massachusetts-amherst toldizer health news earlier this year that could result in about two million jobs lost. he said those would be mostly administrative positions and insurers, doctors' offices. >> i agree. i think this is part of the cost
issue and should be part of a cost plan. david: well, that was bad enough, but then there were several debates at which she refused to answer whether or not her $32 trillion health plan would lead to higher taxes for the middle class. finally, each democrats expressed concern about the effectiveness and legality of her wealth tax to pay for her multitrillion dollar plans. so is there any way liz warren can recover her momentum. >> i actually don't think there is because she is a zealot, and she will not step back from positions which are basically untenable. she has taken this wealth tax and basically now claims it will, it'll pay for about 17 different programs. and it's an amazing slight of hand when you bin to say, wait a minute, that program's going to cost $8 trillion, $3 trillion, aren't we gone through the benefits of the wealth tax, and she has no answer for that. the irony here is that her big rival, bernie sanders -- who has been on her left pretty much the entire campaign -- has gotten away scot-free from having to
explain how you pay for medicare for all. he said, yes, taxes will go up on the middle class, which we all know is true, but somehow no one has pressed him for further details. he doesn't have a plan, and he's doing just fine, so maybe there's a little bit of a note there. >> i disagree. i don't think elizabeth warren ever peaked. i think there was a little excitement, but i treat her like a fad. it quickly wore out. when you look at her advertising, she only spent $3 million. if you're running to create your own lane, arguably the lane that bernie sanders owns, he never really -- she never really broke off from bernie sanders' supporters in terms of having that progressive lane. and like david had mentioned on the outset, the thing is when you run on a platform to reduce jobs -- [laughter] when president trump has created jobs, there are now more job openings than there are applicants? that's a losing proposition. this is insanity. and, again, she's trying to push
socialism. that's not going to get middle of america. >> yeah. so the biggest problem elizabeth warren has is that her base is not devoted to her like sanders' base is. so the biggest problem that she's going to face is that the party will get behind sanders over her, and the reason why is she's hypocrisy at its finest. she doesn't even support school choice, yet she took her son out of a public school and put him into a private school. she'll just say whatever is convenient for her at the moment, and it's starting to show for the democratic voters. that's why you're starting to see her support wane off, because they can't trust what she says from one minute to the next. >> yeah, and, you know, even the democrats, there is something about americans, they have an optimistic spirit, an optimistic sense of life. and elizabeth warren speech after speech after speech, she just doesn't have it. she's just simply not likable. she's always negative. she exemplifies the european sense of wanting to tear down
successful people. and a lot of americans aspire to be millionaires and billionaires. so democrats are probably waking up realizing, to john's point, that socialism -- despite all of its appeal -- simply is not selling in america. david: so the answer to the question can she recover, i guess it's a no, right? [laughter] i guess we're pretty clear on. that all right. [laughter] well, people across the world celebrating the start of the new year, three states are going to be putting laws into effect making life easier and freer, in a sense, for illegal immigrants. former acting i.c.e. director tom homan sounding off about the dangers this could pose for all of us coming next. and here is hong kong ringing in the new year with a little less fireworks than we're used to seeing in the harbor due to the ongoing threat of violent protests, but it's still beautiful over there. ♪ ♪ ore buying cartridges. look at all this ink it comes with. big ink tanks. lots of ink. no more cartridges.
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david: well, the debate over illegal immigration, whether u.s. taxpayers owe illegal immigrants rights and services usually reserved for citizens, will continue in 2020. several new laws are going to go into effect on both coasts at midnight. california's going to give everyone in the state access to health care regardless of immigration status. and new york and new jersey are going to be issuing driver's licenses to illegal immigrants. joining us now is acting former i.c.e. director tom homan. great to see you, tom. so what kind of impact do you think these laws are going to
have on law enforcement? >> well, look, my concern is they're normalizing bad behavior. they're normalizing illegal behavior. i mean, getting a driver's license is supposed to be a privilege. in my op-ed i said -- the left said this is a win for the immigrant community. no, it's not. legal immigrants can already get a driver's license. when i first became director two years ago, i took a lot of hate for it, but it's truth, if you choose to enter this country illegally in violation of federal law, you're not supposed to be comfortable. you're supposed to be looking over your shoulder. we can't reward you with giving you privileges. if i speed down the highway at 100 miles an hour, i'm going to get a ticket. when you enter this country illegally in violation of the law, you're supposed to be uncomfortable. we're not supposed to reward that. >> tom, it's jonathan hoenig, it was reported this afternoon that the trump winery has actually fired seven undocumented workers.
you mention rewarding, quote-unquote, bad behavior. does it surprise you that given all he's talking talked about tt there's undocumented workers working at his winely? >> times employers don't know they're illegal because they present fraudulent documents. and, you know, a lot of the social security cards and driver's licenses from different states, they look real but they're not. it's hard for an expert to tell. which is getting back to driver's licenses, that's like dmv employees in new york sued because they don't know what an el salvadoran birth certificate looks like. we don't even know who these people are that come in and get these driver's licenses. david: kevin? >> hey, tom. so i guess the biggest question here is what -- are there any benefits or is there anything that can be positive that can come from this whether it's helping to track these people, because it's really, really hard to see the upside in this because we are rewarding bad behavior. >> what i would do if i was i.c.e., i would -- first of all,
doj needs to sue new york because i think this law's a violation of title viii that says you can't create, no jurisdiction can create some program or policy that you prevent employees from sharing immigration information. and new york law says you can't share this information with i.c.e. so i think doj needs to sue. now, let's say they don't beat the driver's license, i.c.e. needs access to that database, and we'll use the addresses and look for them. and we'll just use that as a data mine. but doj needs to sue. they need to take the driver's license away. again, we don't know who these people are. look, i read in a newspaper article, it's going to help them get jobs. they're not supposed to work! they're in the country illegally. there's nothing good about this law, nothing. >> go ahead. >> hi, tom, this is john burnett. if i was someone in a foreign country and i heard that you're giving away driver's licenses, i'd have free health care, you know what? i'd be trying to make my way on foot, land, boat, any way --
[laughter] whatever resources i could use to get here, i would actually try to take advantage of it. so it's going to put a burden on law enforcement, but it's also going to put a burden on our social safety net. you know, when you look at new york and california, we're experiencing a homeless crisis. this is going to actually put a burden on the housing, it's going to put a burden on our social programs like health care and social security, things of that nature. so what do you propose in terms of our reaction in terms of the electorate, what -- how do we actually get e the message across that there's a social cost here? >> well, i think the administration's pushing that out now. i think you're right, you're exactly right. with all the democratic people, democrats wanting to run for president, get rid of i.c.e. enforce sanctuary cities, free health care. do they really think that's going to solve the immigration crisis? that's going to bring more immigration which is going to cost more money.
social services are already strapped. we've got schools, english as a second language, they're holding english-speaking children back. we've got trauma centers across the country shutting down, we've got social services, they're bankrupt. and, you know, just the health care alone they said is going to cost about $30 trillion. that's more than double what our national deficit is now. and i said in another show this country will collapse, and it will. we cannot take care of the rest of the world. who's going to pay for this. >> tom, it seems as though in california i think they've been for a couple of years now, maybe three or four years, issuing driver's licenses to people there illegally, and that has raised concerns about voter fraud because there's a very simple route between applying for a driver's license and getting on the voter registration rolls. have you any data or have you seen evidence that that is exactly what has transpired in california? >> i haven't in california, but you're right. in my op-ed, i talk about this is going to lead to voter fraud. back when i was an agent back in
dallas 15 years ago, we had a case, we had a university in that's that had their own zip code, and we had multiple, i mean, hundreds of people voting fraudulently with usage of fake driver's licenses. and that's what concerns me. when we start giving people a legitimate government identification, that's going to lead to voter fraud. that's going to lead to welfare fraud, to all kinds of fraud. that's why i say it again, if you're in this country illegally, we can't normalize that. we need to, we -- they have to be uncomfortable, they have to be looking over their shoulder. if there's no consequence and no deterrence to violating our laws and you come here and get a gift and more enticements, why would they stop coming? david: and as my dad used to say, driver's license is not a right, it's a privilege. and these people have done nothing to deserve a privilege like that if they're there, here illegally. tom, great to see you. happy new year. thank you for being here, appreciate it. >> happy new year, all of you.
david: well, joe biden raising eyebrows among blue collar workers after offering them job ad vice for the future. his comments coming up. and here's a look at how thailand rings in the new year. ♪ i'm your mother in law. and i like to question your every move. like this left turn. it's the next one. you always drive this slow? how did you make someone i love? that must be why you're always so late. i do not speed. and that's saving me cash with drivewise. my son, he did say that you were the safe option. and that's the nicest thing you ever said to me. so get allstate. stop bossing. where good drivers save 40% for avoiding mayhem, like me. this is my son's favorite color, you should try it. [mayhem] you always drive like an old lady? [tina] you're an old lady.
>> anybody that can go down 300-3,t in a mine can learn how to program as well. anybody who can throw coal into a furnace can learn how to program, for god sake. there's 100,000 high-tech manufacturing jobs out there that are going unfilled. it takes about 15 weeks to learn how to do it. we can do it. david: that was 2020 front-runner, former vice president joe biden, sharing some interesting advice with coal workers, some of whom have lost their jobs in recent years. but you remember this major misstep from hillary clinton in
2016? look. >> i'm the only candidate which has a policy about how to bring economic opportunity using clean renewable energy as the key into coal country, because we're going to put a lot of coal miners and coal companies out of business. david: oh, you don't want to say that, even hillary now admits that was her biggest mistake on the campaign trail. will it turn out to be biden's as well, john? >> you know what? this statement by biden made me so upset. there's nothing more frightening to a working class family financially than to actually wrestle with the fear of losing their job, right? and then having the threat of having their industry completely wiped out. and then having to retool, reskill when you have a mortgage, when you have kids and a family? david: yeah. >> and in certain areas, every area's not like california and new york, david, where you're
going to get a side hustle really quickly possibly and then maybe transition. readily transition -- >> yeah, but, john, isn't that the story of america, the horatio alger story of pulling yourself up? you seem to imply there's some divine right to stagnate because you were a coal miner in the '80s, you could always be a -- [inaudible conversations] >> you don't make a statement like that without a plan. you've got to have a plan. >> john, we used to have elevator operators, we used to have a lot of coal minders in this country, and market mechanisms more than anything are changing that. so i applaud joe biden -- >> the person that's attacking president trump for actually stepping to the plate, taking on china to make sure that we can actually grow jobs in the u.s., this from someone who -- come on. >> telling, you know, the unions are telling coal minors don't worry about anything, don't improve your skills. at least joe biden is telling them, look, you've got to change
with the times. david: he had a plan back in 2010, something called recovery summer when he claimed he was going to retool workers and get them green jobs. he said we're going to have 500,000 jobs a month during recovery summer. we ended up that summer with a deficit of jobs, so he's made promises before of retooling workers that haven't come true. >> the green job myth remains a myth, and that is the end of that story. joe biden, by the way, is against fracking, wants to eliminate it, wants to eliminate nuclear plants, wants to shut them down. someone should point out to him that americans are paying 13 cents per kilowatt hour for power versus 33 in germany. that's why german companies are starting to come to the united states. this is a huge, competitive advantage for the united states. and, by the way, jonathan's right, coal is on the wane because natural gas is exploding. we can't use it enough, and it's being flared. david: biden was also taking his
war against fossil fuels in general a step further saying he wants to throw those executives in prison for damaging the environment. kevin, what do you think about that? >> well, i don't think his son is an executive at an energy company anymore or on the board of burisma, so i think it's easy for him to say that, and i think it's easy for him to call coal in new hampshire. i don't think he would say that in coal country. so this is just once again joe biden just not understanding what he's actually saying because coding is pretty hard. does joe know how to code? because he's going to be out of a job here pretty soon too -- [laughter] so he may need to start to learn coding. the biggest problem here is that don't attack someone's livelihood and then try to say it's easy for them to take up a new skill. and i think this is just joe being deaf again. david: all right. we've got to move on. the rebound in the housing market continuing, but a new report might spell out some trouble for 2020. we've got details next. but first, let's take another
david: some positive data out from case shiller today, u.s. home prices increasing at a slightly faster rate in october making the second month of growth. the hottest areas including phoenix, tampa and charlotte which registered the largest price increases of the major cities that are tracked. so what can we expect for the housing market in 2020, jonathan? >> three issues, location, location and location. that's what it is. it's all about job growth and taxes. i know here in the bid west, specifically -- midwest, specifically in illinois, we've
had huge taxes, these massive pension entitlement programs and, of course, real estate prices basically haven't budged since 2008. in other places like texas, more low-tax, low-regulation states, you've seen prosperous home price appreciation. it's all about politics, that's what's going to determine what happens with real estate prices. >> i beg to differ on the location, location, location aspect. it would have to do with supply and demand, that dictates what happens in 2020, and we know that there is tons and tons of demand and very limited supply. local municipalities are limiting the permitting process, and so that's why you're seeing a housing shortage everywhere along the coasts, and that's why you're seeing the cities that you had mentioned whether it's tampa or it's phoenix doing exceptionally well, you're also seeing other states where it's affordable do well like idaho. i think one of the things that's going to happen in 2020 is asset inflation will continue to go up. houses are real assets, so i think real estate across the
board whether it's commercial or whether it's residential is going to do exceptionally well in 2020. >> kevin, i would say you and jonathan are both right, just to make you both happy. [laughter] i think it is location and, by the way, the locations that are doing well in this survey are those where low taxes are attracting people. new york, san francisco and los angeles don't quite get it that if you keep raising taxes, you're going to lose citizens -- david: and businesses. >> and businesses, which is exactly what's happening in new york. so i'm very bullish on real estate next year. i think certainly in those statements and cities where they are attracting growth and new businesses and so forth, i think it's going to do well because household formations have continued to grow even as millennials have not yet bought houses. i think that'll change. >> well, i agree with everyone here -- [laughter] >> we're all right. >> you know what? there's, there will be a lot of homes for sale in new york and california. why? because they're going to florida, they're going to north carolina. that's why those housing prices
have skyrocketed. you know, when you look at the housing market in places like new york and california, you know what's going up as well? property taxes. why? to take care of all the social into entitlement programs. but you also know, you should also know that there's another social trend. millennials are forming households. >> yeah. >> right? so there's going -- >> can i talk about that millennial household formation? david: you could if we had another hour to talk, but we don't, i'm afraid. [laughter] people around the world getting ready to ring in the new year. we are celebrating here as well with 2020 resolutions and predictions of our own. surprising new forecasts from our panel on where they see the markets going in the new year, that's coming right up coming next. ♪ ♪ limu emu & doug
hour 36 in the stakeout. as soon as the homeowners arrive, we'll inform them that liberty mutual customizes home insurance, so they'll only pay for what they need. your turn to keep watch, limu. wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
hundreds of thousands of service members will remain on duty. away from home. now more than ever, they need your help to bridge the distance to family, home, and country. so this year, as you celebrate your favorite traditions, take a moment to send a piece of home to our nation's heroes. be a force behind the forces. visit uso dot org slash holidays to send a gift of home to our service members.
♪ ♪ david: well that, of course, is new york city. we're about two minutes away from a new year in paris, france, as well. an estimated million people are going to be gathering right here and more than a billion are expected to watch trout the globe -- throughout the globe as we get ready for the world famous times square ball to drop. we thought we'd end this new year's eve show with some 2020 predictions and/or resolutions of our own. liz, you start it off. >> my resolution every year is to have more patience with everybody. so i will try. i am predicting a trump landslide in november. against michael bloomberg who i think will win the nomination in a contested convention. and i think markets will respond positively. also i think growth is going to
be good. david: by the way, that's the arc d'triomphe. john, predictions. >> i think i'm going to work out next year -- [laughter] i'm like to look 25 again. in terms of the market, i think in q1 we'll experience a 3% gdp growth, we'll hit 30,000 dow, and by q4, you know what? liz will clutch her pearls, but guess what? trump is going to get reelected. we're going to see the worst of boeing be, and we're going to see dow 30,000. david: jonathan, about 20 seconds, go ahead. >> david, happy new year -- david: god bless you. >> gold above 2,000 in 2020, an all-time high. >> for all the nay saying, hello. hello. 2020. david: looking very stylish. kevin, predictions or resolutions? >> next year asset -- or inflation will go up, i think we'll pass 2.5%. that'll help jon and the gold bugs, and i think wages are
going to go up above 4% consistently. david: happy new year, everybody. >> there you go. [laughter] david: that looks like 2020. >> happy new year. david: thank you so much for watching. we really appreciate your interest in our show. we'll see you next year. this is "objectified"... to be a cuban-american to get the key to the city of miami, and not sell cocaine, amazing. i'm harvey levin. this is a story about a cuban-american boy who grew up to become one of the most recognizable, and marketable celebrities in the world. ♪ swing your partner round and round ♪ ♪ end of the night, it's going down. ♪ armando pérez grew up in the slums of miami surrounded by violence and drugs. when i was born i was breastfed cocaine. i had to get rushed to the hospital and see if i was gonna make it. but music proved to be his golden ticket to a better life. - you are light-skinned, blue eyes. - yeah.