tv Shepard Smith Reporting FOX News December 14, 2016 12:00pm-1:01pm PST
what could be more romantic than paris? don't book your trip just yet. there is apparently an infestation of rats. the eiffel tower has to close down because there were too many. that is not good. here's shep. we are tracking the reaction to the second interest rate hike of this decade. how it will impact your credit cards and saving accounts. plus, donald trump will cost companies billions, but they can make you a lot of money if they play things right. ahead, how investors are cashing in on the trump twitter effect. and donald trump getting tough with china. but if he starts a trade war, american businesses could pay the price. and the chinese are already threatening american farmers and car companies. also, at the golden tower today, the titans of tech talking with the
president-elect. they've had some bad blood in the past. now it's time to make up and move forward. we'll see. and do we need to duck and cover? nasa warning we are not prepared to prevent an asteroid from hitting our marvel. but a scientist has a plan that could save the planet. so let's get to it. first from the fox news desk on this thursday afternoon, they couldn't beat him, so now they're meeting with him. some of the top names in all the tech world gathering today at trump tower here in new york city. many of them trading insults with the president-elect during the election process itself. some even campaigned for hillary clinton throwing piles of cash her way. that includes the apple ceo tim cook who raised millions for secretary clinton when he hosted a fund-raiser back in august. the president-elect ripped cook for making iphones in china and for fighting a government order to unlock an iphone that one of
the killers in the san bernardino terror attack used. then there's the amazon chief jeff bezos who also owns "the washington post." president-elect trump accusing him of dodging taxes. bezos said trump was eroding our nation's democratic process. but before the cameras left the room, donald trump praised all of the executives for their work and said his administration will focus on helping them continue to grow. >> there's nobody like the people in this room. and anything we can do to help this go along, we'll be there for you. and you'll call my people, you'll call me, it doesn't make any difference. we have no formal chain of command around here. >> also in the room, some of the most successful women in tech including the oracle ceo and chief executive, safra katz who plans to suggest ways to help protect the tech world. and the facebook coo sheryl
sandberg. not at today's meeting is mark zuckerberg. the president has been looking to the business world for his cabinet picks. he chose exxonmobil's ceo rex tillerson for secretary of state. they are planning to use tech experts to dig through tillerson's records. and lindsey graham and marco rubio all said they are concerned about the oil chief's close relationship with the russian president vladimir putin. but senate majority leader mitch mcconnell said he's confident that tillerson could put american interests first as our nation's top diplomat. of course, the president-elect is no stranger to opposition from within his own party. take the house speaker paul ryan who once said he would not campaign with his party's nominee. last night speaker ryan gave the now president-elect trump his own packers jersey during a thank you tour rally in
wisconsin. the president-elect told supporters that speaker ryan has gotten better with time. >> speaker paul ryan, i've really come to -- oh, no, i've come to appreciate him. speaker paul ryan, where is the speaker? where is he? he has been -- i'll tell you, he's been terrific. and you know, honestly, he's like a fine wine. every day goes by, i get to appreciate his genius more and more. now, the othif the other goes a me, i won't say that. >> like a fine wine. tell me about this tech meeting, john. >> reporter: good afternoon, shep. donald trump burying the hatchet publicly with paul ryan. and here he's trying to bury the hatchet with many tech leader who is aggressively campaigned against him. he's made jobs the centerpiece of his campaign. he wants to be known for that,
starting in the first 100 days of his presidency. so he's bringing all the people in. you talk about the who's who of the tech industry to say, let's pull together in this same direction. the technology leaders stand to take a lot from donald trump's presidency as well. most of the companies, they have billions of dollars sitting overseas in liquid cash that they don't want to bring back to the united states because it would be expensive in terms of tax. he wants to lower the tax for repatryuating the funds. also, donald trump pointed out today that the stocks from almost all of the tech companies have gone up substantially since he won the election. listen to what he said. >> you're doing well right now, and i'm very honored by the bounce. i'm talking about the bounce, right now everybody has to like me, at least for a little bit. >> reporter: so some of the tech leaders were expecting to come down to the lobby in a few minutes. we'll see if he changed any minds.
curious meeting from the summit, anybody from twitter, considering how much donald trump has been using twitter, you might think they were invited. but a spokesman for the transition said he couldn't accommodate everyone. >> and what is the littest on the search for the rest of the cabinet, john? >> reporter: okay. so we've got 12 that are named so far. we know another one will be name in the next day or two. that montana congressman ryan zinke will be the secretary of the interior, which leaves two other positions to fill, that's agriculture and veterans of affairs. agriculture, he wants heidi heitkamp. she's a democrat. if she leaves to join his cabinet, there's a good chance that a republican could win the special election to fill her seat, giving them another seat in the senate. heidi heitkamp is under pressure from democrats not to accept any kind of an offer from donald trump. they are really putting a tremendous amount of pressure on her. somebody else who might be up for that job, if heitkamp can't
do it, is congresswoman kristi noem. but she's saying publicly she doesn't want the job. but it will be hard to deny the president if he asks. they need somebody who can really kind of restructure the whole thing and change the entire culture. they haven't found that candidate yet, shep. so it could be days if not a couple weeks before we hear something on that front. >> john roberts on watch for the president-elect. he'll be our senior white house correspondent when donald trump is at 1600 pennsylvania. congrats. see you then, john. we'll bring in emily gooden, managing editor of realpolitics.com and is joining us live now. as the tech meeting goes, one of the words you mentioned in preview of this segment is, awkward mp awkward! >> awkward is the word indeed. trump didn't get along with the leaders during the campaign and were backing hillary clinton. so this is the metaphor call breaking of the bread. because they need each other. this industry doesn't have a lot
of regulation. and what little it has is very out of date. so republicans are going to have a lot of power here. and trump wants to create jobs and wants the industry to create a lot of jobs in the u.s. >> jared cukushner is becoming e more famous son-in-law to donald trump. do you think he's playing a role in this? >> i think he's playing the lead role. i think he'll be the bridge between the trump administration and the industry. he's indicated a huge part in the tech industry and bragged about how the tech not they used during the campaign helped win the white house. >> there's net neutrality, there's immigration, there are a lot of big trump issues that are tied into this group of people. >> yeah, and trump has said he opposed net neutrality, which is different than the tech companies. so the immigration -- for the technology companies, they want to bring in high-skilled immigrants to work on our company. so that is a big issue for them.
>> is it your sense that donald trump needs a backup for secretary of state, or will he win this vote outside and inside his party as it goes to defending rex tillerson? >> i think the verdict is too hard to tell. we're hearing he had a hard time deciding, which is why the announcement came so late. so right now there may not be a backup plan, but he'll really have to work capitol hill to get this guy confirmed. republicans are doubtful. >> that's one that is kind of iffy at this moment, not to donald trump, but to a lot of observers. another you mentioned is rick perry in energy. the department he forgot he wanted to eliminate. >> exactly. you know, the senate has unanimously confirmed every energy secretary since 1998. i think that streak will get broken next year. the democrats will have a field day with this in the confirmation hearing for the reasons you mentioned. >> is it your sense that these confirmation hearings will draw out something about rick perry or a series of things that might
be particular in his demise in that role as you put it? >> well, i think they will bring up the debate. and they might mention it as dancing skills since he was on "dancing with the stars." i think it could be embarrassing and we need rick perry coming in with a sense of humor and quick quips for answers. >> great to see you. thank you so much. >> thank you. the federal reserve last hour raised interest rates for the first time in a year. everybody seemed to know it was going to happen. it will affect everything from your mortgage payment to your credit card debt. it could affect your savings. so will the rate hikes stop here or is there more to come? the wall street people loved it in the first 30 seconds to a minute after this came. we were all green. look at the big board down there on wall street. right after the announce. -- it went into the grain -- there it is.
up before the announcement. then it rocked it in the green for a little bit. hit a record high along the way. the dow is higher than it ever has been. but now i'm in the dumpster after a roller coaster. the dow is closing in or it was a few moments ago on the 20,000 mark for the first time in history. erin -- aaron zitner, what is going on? >> well, when last seen, the fed signaled they would have two rate increases next year. now they are saying three. but what's important here, this is a big economic moment, of course, that affects borrowers and savers and investors, but it is also a big political moment because this announcement helps
to shape the environment that the new president and the republican congress are going to be working in when they are set to work in january. one of the things have to give them room to work? >> the fed is saying that the economy is doing pretty well. in fact, if i understood the comments correctly, and i didn't hear them all, she said, yeah, in the past, we talked about the need for fiscal policy, for stimulus, for government to step in and help goose the economy, but that is what unemployment or when unemployment was higher. now there's not an obvious need for the government to step in and spend. and that is an interesting comment coming as the new administration is about to come in and undertake, probably, a pretty significant fiscal stimulus. >> my bet is, a lot of people in our viewing audience are sitting
at home, some may be retiring, they have cds, they have some other 401(k)s. are rates on the savings account going up? or is there no good news here? >> well, i would think this will affect the other rates. there's always a tradeoff hire. i would like to see rates do, i'm a developer, and developers get low-cost loans. a the end of the campaign, he said rates were too long and accused janet yellen for handling at the best of the obama administration in keeping rates low to help hillary clinton get elected. so they are always seeing tradeoffs in a race where some people benefits at their low and others at the high. >> one of the benefits has been in the housing market in dire straits for a while. it was getting a boost as you get a mortgage for extreme ly
more or higher rates. >> the interesting thing that happens is when we get deregulation, if donald trump and the republican congress achieve that. and we get tax cuts, and we get defense funding. does this juice the economy and prompt the fed to raise rates even more? and what is the tradeoff then? savers would obviously benefit from higher rates, but one of the things that the new administration wants is to boost employment, get businesses to hire more, higher rates could mitigate that and make it be a counter vailing force to businesses that want to hire. >> often the market doesn't like uncertainty, and it usually doesn't, and it seems like the
economy is headed up. the stock market is our guide and hiring is our guide. it just looks like those who move the money around in big patches, seem to believe, we're on the up. >> yeah, and i guess investors have to weigh that against the idea that maybe things have gotten too heated. the market may have expectations too high. but what trump is going to do when he comes in, you talk about uncertainty, here's one thing to watch for. will there be a presidential tweet? donald trump has cast that aside going after boeing and labor unions. he raised the one china policy. he seems to like uncertainty and seems to think it helps him in negotiations or helps his hands somewhat. will he make statements about fed actions, which raised uncertainty because they could
call entomb the number of actions. coming up, could donald trump's moves prompt problems that could last longer than his presidency? that's coming up, next. give your loved ones ancestrydna, the simple dna test that can tell them where they came from -by revealing their ethnic mix. you'll save 10%-and they'll have a new story to tell. order now at ancestrydna.com
do that is slap a 35% tax on goods from u.s. companies that move productions overseas. but the lawyers say if the president-elect does decide to side-step congress on this matter, he could face years of legal battles. the fox business network blake berman is live in d.c. >> hi, shepard. you probably saw the president-elect reiterate to chris wallace that he'll try to, quote, impose a major tax on company that is leave the country and sell back to the united states. mr. trump has said that number could be as high as 35%. however, experts we have spoken to, like derek scissors of the american enterprise institute, says the president can enact this but can't cite specific companies. >> that is why we're getting him to talk about carrier and visiting and negotiating with
companies. because that authority doesn't really exist. >> reporter: mr. trump has said he wants free but fair trade. critics say signaling out specific companies engages in picking winners and losers. >> what kind of legal problems could be faced, blake? >> reporter: should a company be singled out by a tax for the president for leaving and selling back into the u.s., experts say it is likely that company would sue and then you get into quite possibly an ed immediate junction with years after that. one possibility to side-step a piecemeal trade battle, if you will, could involve a comprehensive tax plan that embraces the trade deficit and how to tax the goods that come across the border. >> blake berman from the biz, fox business network, where they are dissecting everything that happened today with the interest rate and the dow jones numbers and the nasdaq and the oil, that has gone way down.
i want to tell that donald trump likes to tweet. wall street traders like to make money. and now some of them are coming up with new ways to profit from the president-elect's social media commentary. that is ahead. also, a cease-fire to stop the fighting in aleppo did not go wrong. and more than 50,000 civilians are trap in part of the city. what is happening in aleppo will go down in the history books. and the question will be, why didn't anyone try to stop it?
fighters are reporting dozens of air strikes happening in the eastern part of aleppo. this comes a day after turkey and russia worked out a cease-fire meant to help get rebels and civilians out of harm's way. the government forces with help from the russian military are now close to taking back the entire city from the rebels. in fact, the russians report the rebels have less than eight square miles. the u.n. estimates 50,000 people are still trapped in aleppo. you can see some here trying to make their way through the streets. the u.n. secretary general says he's heard credible reports that pro-government troops are murdering civilians as they move through the area. and a u.n. commission says it learned of troops accusing people of crimes and carrying out deaths on the spot. the news continues with shep right after this.
and questioned whether it's worth the money we're spending. the u.n.'s incoming leader is looking to address some of donald trump's concerns. earlier this week the former portuguese prime minister antonio gutierrez took the oath of office to become the next leader of the u.n. he's promising to make the organization more efficient through management reform. diplomats are also telling "the new york times" newspaper the incoming secretary general has also changed his approach to nearly every major crisis after trump's election win. eric shawn is live in the new york city newsroom. hey, eric. >> shep, he's complained about overspending by defense contractors. and next the u.n. could feel the trump pinch. the president-elect's views are at odds with the world body in a variety of pressing issues, from the support of the iranian nuclear deal to climate change and the budget could soon be on the line also. former u.n. ambassador john bolton served with george w. bush and talked to the president about joining the administration.
critics think the president-elect will take a hard stance at the u.n. he says the almost $3 billion in american taxpayers this year alone, the most of any of the nation, could face cuts. >> i think a good, hard look at the u.n. budget is long overdue. and i wouldn't be at all surprised if a president trump wants an office that will pay attention to him. >> donald trump testified to congress, at least in a discussion near the multi-billion renovation back in 2006. when he attacked the u.n. then of overspending. >> it is the most corrupt thing going on in the world, which is saying something, or one of the most incompetent things i've ever seen. >> he sounds very similar today. mr. trump asked nikki hailey for u.s. ambassador. and a possible preview what she could face if she takes the job if she's accepted by the senate.
he said, well, in a quote, he said, they were populists, demagogues and federal chiefs. he compared their language to the pop began day of isis. >> eric shawn live in new york city, thank you. and there's breaking news on fox news channel. we have just gotten word from a syrian rebel truce deal. within hours, we are hoping it will save tens of thousands of lives. the city is under siege for years. hundreds of syrians have died this the civil war. now it appears that most of the city was taken back from the rebels in aleppo. and now tens of thousands of civilians are trap in a
one-mile-square area of burned out and bombed out remnants of a previous great city in the world. and are now trying to figure out if they will all be lined up or be allowed to escape. there was a brief cease-fire implemented over a period of hours. by the thousands, they lined up for buses that we'll take people to a safe area. they began to work on an agreement to try to get the survivors with their children and everything they own on their backs out of this city of aleppo. well, now the word has just come to the ruse service. the truth's deal is coming and being bombarded. we'll keep you upgraded. and many are trying to cash in on president-elect's tweet.
last week he launched a twitter tirade over the building of the new air force one. even offering him any advice on the f-35 program. some traders are now updating their computer models to try to profit when trump tweets about companies. in other words, if he says something bad about the economy, you want to get in on the down and cash up. the votes do seem to happen. the more tweets, the better the proms remake. and we are dealing with a president who tweets, but that is new for traders. >> reporter: it is a totally new world. if you think about the trump
reporters outside of trump tower, at 8:26 monday, an hour before the opening bell, the cost is tweeted the president-elect says the f-35 program and cost is out of control. so with the tweet, you take that off, it's about $4 billion, give or take, from the company's stock market value in just a few hours. but len to what we do over and over again. >> i work with a regulated securities industry where i think ten years ago it would vm been a her see to have much a wonderful day on twitter. social media, what is that? well, the president is going to
adopt to social issues. and there is some gray area. mr. trump said he's comfortable in these areas. >> reporter: many say he has the comfort level. interestingly enough, he told me about the delivery time a few times and points this out. just about the same exact thing about that fighter jet over the weekend, before monday, but the wall street crowd didn't pick up to it and take note of it until he said it on twitter. until he tweeted it. so it is something completely different. >> if you were a trader and were able to get it, say, a 30-second heads-up on what donald trump is about to tweet, you could make a lot of money. except that is insider trading, so is there any indication this is going to stop? >> no, not necessarily. any time you talk to the tramp
-- president-elect donald trump, you will see what he says about these things. >> dan springer was just live in our pacific northwest newsroom. dan? >> reporter: yeah, shep. that heated rhetoric has some people on both sides of the pacific concerned that the two largest trading partners in the world could be headed for a breakup. >> they haven't played by the rules. and i know it's time that they're going to start. >> reporter: during the campaign, trump said he would label china a currency
manipulator. back out of the transpacific partnership or tpp or hit them with tariffs up to 45%. all needed, trump said, to correct a $356 trade imbalance with china. the tough talk as many in the u.s. are worried about a full-blown trade war. >> the strain that has happened over a last number of decades is we trade both ways. the downside of that is there is pain being inflicted both ways. >> reporter: analysts expect boeing to feel the pain first if tensions escalate. >> the chinese government long history of using aircraft orders as reward or punishment. >> reporter: but peter who lived in china eight years and now exports alaska fish battling tariffs up to 30%, says trump is the right man to level the player field. >> everybody is worried about a trading war with china. i've got news for you, we've been in a trade war with china for the last 25 years and are losing miserably. >> reporter: donald trump's
transition team and leading on trade echoes that sentiment saying for far too long the u.s. has been responding to a power of strength. we'll see what happens from here. and putting weapons on the artificial island, the one built in the disputed area of the south china sea, that's according to asia maritime transparency initiative, which is a think-tank that monitors the area and is respected. it reports china built the structures on a number of reefs, three of them, and four smaller reefs in the south china sea. the think tank relates images from all seven islands. this is a fully artificial island built um and now houses among other things weapons. they are a hexagon shape, four of them, hexagon-shaped buildings here. you can see the hexagon-shaped
buildings. and on the top of the buildings, they hold anti-missile systems. if you go to it on the computer, you can see, on top of the hexagon-shaped ones, there are what appears to analysts to be anti-aircraft weapons. the group reports each of the smaller reefs has similar structures. this is mischief reef, which is much larger. do i have that as well? it's a full screen for you, this is mischief reef. the group supports the chinese saying they built more complex structures here. analysts say it appears to them that the hexagon had tears so the weapons could possible every direction. the think-tank reports the black boxes as most likely covers for those already in place. the pentagon officials tell fox news they are not sure if any of them is operational. cops can force a suspect to hand over the code to unlock his iphone. that is the new ruling from a
video holding something with a screen that looks like a cell phone, no doubt. the woman confronts him, they push each other around here and there. and then he shoves her into a shelf and runs off. another camera caught him running out of target. some critics say the new ruling goes against constitutional rights protecting people from self-incrimination. the judge is here, fox news analyst judge andrew napolitano. it was not that long ago that you don't have to turn over your cell phone or your passcode, now you do? >> well, i think this ruling is erroneous and will be reversed by the florida supreme court, which has a tradition of upholding constitutional rights. there's two constitutional rights here. one is, can the government force you to give testimony against yourself? is giving the passcode to your phone considered testimony? and the other is, can the government force you to speak or do you have a right to remain silent? the appeals court refused to address the latter, even though
that was raised by his lawyer. and the answer is, the government can't force you to speak. and all the other cases that i've looked at the passcode phone cases have gone the other way. the government cannot force you to give your passcode. so think of it like the government wants to get into your strong box, it can make you surrender the key. the government wants to get into your wall safe, it cannot make you surrender the combination. because it can't make you speak. what can the government do? they can go to the service provider for his phone and subpoena the records from them and find out whether -- >> they don't know my passcode. >> he took the photograph. >> ah, not to go through the phone, but to go through the server to get a copy of the photograph. >> right. so the constitution doesn't totally frustrate law enforcement, it just forces, when it is followed, law enforcement to follow the constitution by not violating rights, by not forcing him to cough up the passcode.
>> the idea is, law enforcement needs the ability to get things accomplished for the people, so the people have a right to their own privacy because the constitution dictates such. >> precisely stated, shep. the trial judge in this case agreed with that. the appellate court did not. because this is so profound and could affect so many people, we all have phones, most of us have passcodes on them. this will go to the florida supreme court, even though it arrives in this sort of very taundry case, i believe it will go to the florida supreme court. >> i believe there was a case, they wanted the person driving the car to unlock the phone to find out if that person was finding texts or e-mails during the time which he had some sort of traffic accident. and the ruling was, if it's unlocked and you can look at it like looking in the window to say, oh, there's a weapon -- >> called plain view. exactly. >> if the phone is in plain view and you send a text, but if it's locked, it's locked. that's it. >> correct. the government has the right to
seek and pursue evidence against defendants in criminal cases. it does not have the right to force the defendants to turn in evidence against themselves. >> a lot of people say, well, i don't do anything wrong, so go ahead and do that. >> that attitude will result in a destruction of our privacy. that attitude should be condemned. >> because that is part of what we're all about. >> right. that's part of what it is to be a free human being. it is to have rights that are yours no matter what you've done. the innocent people don't have to worry about the rights. the rights are there for people who are pursuing people probably not evidence. the evidence against this man is probably overwhelming. they probably don't need it. this is why we have courts. >> thank you, judge. >> thank you. merry christmas. should scientists spot a big astroid heading toward earth, like say the one that killed all the dinosaurs, there's essentially nothing we can do about it. just get ready for the end of
the world. except one nasa scientist says he's got a plan that could save all of us and the puppies. that's coming up. liberty mutual stood with me when i was too busy with the kids to get a repair estimate. i just snapped a photo and got an estimate in 24 hours. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance for over 100 years like kraft has,natural cheese you learn a lot about what people want. honey, do we have like a super creamy cheese with taco spice already in it? oh, thanks. bon appe-cheese! okay... the search for relief often leads, ...here or here. today, there's a new option. introducing drug-free aleve direct therapy. a tens device with high intensity power that uses technology once only available in doctors' offices. its wireless remote lets you control the intensity, and helps you get back to things like this...
if a massive asteroid were to come hurtling toward earth tomorrow, we're saying one would, there's nothing we could do about it so save the world. that's the world from a real nasa scientist at an annual meeting of america's top earth and space researchers. he said we need a rocket on standby to knock space rocks away from our planet. he pointed out that he wasn't speaking on behalf of nasa, just giving his own suggestion and the chances are slim we'll actually get hit by a huge asteroid like the one that knocked out the dinosaurs but even so he cautioned we should
be ready. how much do we have to worry about this? >> because of better surveys and upgraded telescopes, nasa discovers 30 new asteroids a week and sometimes they get bumped into our neighborhood. in 2004, a devastating comet flew into jupiter and in 2014 one brushed near mars and that was only discovered 22 months ahead of time which is not long enough to build a deflection system so researchers say we should be prepared to "mitigate" the possibility of a sneaky asteroid coming in from a place that is hard to observe like the sun. apparently those smaller sneakier asteroids are still extremely dangerous but for a little don't panic perspective, you should know nasa has cataloged more than 15,000 near earth asteroids, none, not one, pose a risk to earth in the next 100 years. >> are other scientists issuing recommendations on this matter? >> yes.
scientists say there are two ways to deflect an asteroid. one, a nuclear warhead or a connettic impactor like a giant cannon ball. cannonball technology is very good technology intercepting object at high speed actually ends up being more effective than high explosives. now, the problem is we still don't have a lot of knowledge about what's inside asteroids and comets so blowing them up could pose other dangers. earlier this year, fema and nasa did a simulation of what would happen if a 330-foot asteroid hit los angeles. they estimate ed the explosion would kill tens of thousands of people and then it would level the city. comforting, right? >> hopefully that doesn't happen. trace will be there to report if it does. thank you, sir. we'll be right back with a look at an intense rivalry between explorers and their race to the bottom of the earth. it came to an end on this day in history.
president-elect trump made another pick but not for his cabinet. the transition team reports 16-year-old jackie evancho will sing the national anthem on january 20th. trump's team called her an inspiration to all americans. jackie says it's going to be awesome. on this day in the year 1911, a norwegian explorer and his team became the first people to reach the south pole. he beat the british navy officer to one of the few unexplored areas of the planet. after a trip that lasted more than a year, scott's crew arrived five weeks too late finding the norwegian flag already planted in the ground.
he and his team later died after a run-in with a blizzard. in a diary he left behind, good god, this is an awful place after losing the race to the most unforgiving spot on earth 105 years ago today. >> all right. thank you. we got history here, folks. the first hike in interest rates is on. the first one we've seen in a year. only the second in the last decade. and right now the markets are chewing on it and not liking what they saw. a pause in pursuit of dow 20,000. we have you fully covered on this one. we also have alan with us in chicago and last but not least, to rub it in in vero beach, florida. i begin with charlie. what's going on here? >> it was more disappointed in what she said about uncertainty and then the markets