tv Cavuto on Business FOX News June 3, 2017 7:30am-8:01am PDT
>> overpriced nba players. >> national donut day, my favorite american holiday is come and tim morton is owned by restaurant international. dagen: sums up or thumbs down gary be? neil now. >> always in a rush to get it long. lots of rushing to what we know or don't know about russia or the -- not rushing to what we do know about our economy and these incredible markets, glad to have you, neil cavuto and not saying the media should not cover the climate debate or the kremlin or the white house and all that. i'm saying how about covering what is going on and a lot of other issues, high wages for americans and housing. not to mention the atlanta federal reserve putting out a model that shows the economy growing at better than 3.5% this quarter, the one we are in.
that is north of the 3% average growth the administration forecast in the budget that was pooh-poohed is unrealistic. charles payne, kennedy, larry, don't ask, don't tell. >> the media is in the business of showing train wrecks, but they try to create these wrecks themselves. what is reporting in the stock market is phenomenal stuff. our economy starting to move on so many different fronts and whether it is over 3% gdp this quarter, jobs growth particularly in construction and mining, these things are real. we saw earnings for the first quarter that were phenomenal. stock market reflects that and most people hopefully are not dissuaded about whatever their dreams are or hopes are because things are going well.
>> many in the media -- this is the same media that has ignored this market run-up but didn't waste a second to seize on that day a couple weeks back that we were down 400 points as an indictment of the trump administration and their agenda. they pick and choose their battles. >> it is a false abstraction, very dishonest. the president will pull out of the paris climate accord, i don't think that will have a measurable difference on the climate. you wouldn't know that by the way the media covers this. that was one of the president's campaign promises was another promise was to have gdp growth conservatively between 3% and 4% and if he is seeing that his second quarter in office, that is the kind of result everyone should be talking about because that means people are working, wages are going up and banks are
lending money. >> absolutely go ahead and question whether that is sustainable, that is something to sustain but given the criticism they had to put up with on forecasts of that magnitude would it you 2 point out and quarter we could do it. >> it would not kill the mainstream media. particularly unemployment in 2001, the economy to some extent, and we see policies kicked in when we see legislation passed. >> what if we don't see that? >> we may not. to the taxation reform, we will see. i don't think it will be great for the administration but we will see what is happening at the top, companies businesses rise and fall doing what they need. >> one of the things i see in this is if you read all the
press friday morning and the daily news on the gerald ford thing, but expanding it to donald trump, the president of the world dropped dead i would look around and reach for a gas mask because obviously we are going to hell fast but the fact of the matter was we are continuing to soar. what is the -- for you is this just a premature jump ahead of the reality crushing in the we are all going to burn up and i? >> i don't think that is the case. for the majority of americans when they wake up in the morning, thinking about so many things they are not thinking about the russian scandal, they are thinking of the health and welfare of the family, their economy and the irony is these candles and allegations, the economy has shrugged everything off, unemployment is come down and consumer confidence is gone up, optimism in the economy is gonna, small business optimism is gone up, people who hire --
and an end the day you have to look at that data and the data shows there has been no negative impact in the economy itself and that is optimistic, that is why you i see you raise in the forecast for the gross touristic product. >> this market that follows its upward trajectory on its own, what if it doesn't get what it has presumably been jumping up on on the prospect of tax cuts, healthcare reform or whatever can it maintain itself? is this something we missed, built on more than just expectations? >> is built on more than expectations was larry pointed out soft data but we have seen -- i give you a prime example. in december 1st time in ten
years we saw homebuilders say foot traffic expanded, first time in a decade. first-quarter homebuying went through the roof led by those under 25 so that soft data has begun to materialize into real hard data and investing i am watching, none of these companies are assuming donald trump's legislation or economic agenda will be passed. the guidance is based on the wheels of commerce have begun to move because they know they have a friend in the white house and the won't be any more speed bumps or brick walls. >> you wouldn't know it. sound like a media basher but the media have an obligation to report the good, the bad, everything. we have time, 24 hour news network and there are lots of them so we have the time but i only see one thing, this stuff charles related to gets 0 coverage so through which average folks see the world and see this presidency. >> it is almost as though the opposition to the president is cheering failure and i don't
understand how you go home to your constituents and say the world is falling apart, and therefore reelect me. >> we are standing out by not being in. being apart from this team is bad for us. >> just the perception of being part of a team as opposed to some things that is actually lasting and meaningful but to danielle's point, republicans in congress absolutely have to take the lead on tax reform and health care, they have to figure it out. obviously those who believe in free market solutions would love to see it untethered from government and when they can do that that is when you talk about sustainability. >> given the time horizon and limited number of days they are at work whether things can get done. >> on morgan says next month. also back to this russia thing. this is a huge story. i understand there's frustration that this is overcovered but we
will see. i have no reason to what is in those is not being reported. this is a problem. >> i believe the president compounded in the wall street journal about this, by tweeting about russia and all this other stuff, he is feeding the beast. it is a legitimate story. the president ironically compounded by dwelling on it. >> sometimes he can't get to the phone. millennial speech. he tries to blame that on his communications team. you can blame it on an amateur presidency and they are still finding their footing but they have to find it much faster. if you look at the foreign trip you see the president is capable of having success. when he gets out of his own way.
he is still learning how to do it and looks as though too much cannibalism within the administration so that has to calm down and they have to keep their eye on the ball. when he goes on these attacks on twitter it is a great distraction. they have to refocus. >> the stuff he has alluded to -- we will take a quick break. hillary clinton seems to forget the reason she lost the election. see these guys? they did not forget, not one bit. >> environmentalists warning donald trump's decision to leave the paris climate deal will put the planet in danger but someone here says it will create more wealth to better protect the planet. nike says they are sticking by tiger woods even after this. should his sponsors keep giving him mulligans, we will see you at the top of the hour. ymore!
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>> live from america's news headquarters, recovered after an explosion in a corn mill happening in cambria. 45 miles northeast of madison. the workers were hospitalized. the cause is under investigation. overseas another day of bloodshed and violence in the capital of afghanistan was a series of suicide bombings killing 12 people, injuring more than 80 others. no claim of responsibility, in kabul several i did after protesters enter their second day of protesting, thousand demonstrators facing off against riot police demanding better security following the truck bombing that killed 90 people and injured 500 more. now back to cavuto on business.
>> i inherit nothing from the democratic party. >> what do you mean nothing? >> it was bankrupt. it was on the verge of insolvency. the data was mediocre to poor. comey was there to talk about my emails but not the investigation into russia. they were dropping a lot of the stuff, they haven't done anything since early january. their job was done. >> my weight thing is the thyroid issue, nothing to do with my preferring to eat more than any human being on the planet. is she serious? still having a hard time with her loss. i can understand that but kennedy wants to help her out, a lot of excuses, i didn't hear any of the ones that came after the election. >> look at the people, and
opening for star wars. the democrats wish this were a new hope but it is not. it is the same old routine, so incredibly selfish of her to be reciting this laundry list saying she always makes the excuse i take full response ability and then she goes on and on and on. >> my decisions but not the law. i know you are a big fan of hers and that is fine and wonderful. but you must hear that and say oh, come on. you need an intervention. you are worried. >> a number of reasons, a mosaic. $5 each paper. a lot of reasons. >> he has been on speaking
tours, the jacob javits center, charles gave me that. what do you make of the fact this is happening a lot. >> we are seeing more about the russian investigation. from a broader perspective, cannibalization, democrats had to figure out a way forward that may -- to run for any -- getting past -- >> gerri brown, and -- >> i love it. young people -- and we need to
move on. >> she needs to move on. >> what was the key? democrats lost these key states, michigan, pennsylvania. she almost lost to minnesota. white blue-collar workers, they took them for granted. she didn't even visit these states. like the clip we showed, rich silicon valley guys in the hamptons or chilling out and then she represents somebody struggling to pay their rent or put their kids to college. >> not only did they feel they were taken for granted but these are traditional democratic strongholds who fell they were being taken for granted but there voice wasn't being heard, they weren't part of the dialogue and in washington treating them as flyover country.
>> i don't think this is accidental. as part of a calculated -- democrats are very confident they are going to take the house next year and donald trump -- so they are all positioning themselves to take advantage of this vacuum where he would not be impeached before he leaves, their point of view and seizing on that, hillary included positioning themselves to be ready for that. >> the mentality she says she was the victim of. the broad assumption she was going to win the election. she is not a victim. they are foolish of they are counting on -- >> doesn't change the fact middle-class people -- >> that is the -- >> talking about voters. >> those -- >> cross back on party lines. >> democrats would do well to look at the trajectory of the
unions and this week consumer confidence where people make $15,000 or less at a 16 year high believe in donald trump and don't put their faith in the hand of democrats anymore. >> a new way to pay for healthcare that may have car shoppers, restaurant goers and other folks paying more, maybe a lot more.
>> california making news, state lawmakers have figured out a way to make healthcare free. raise taxes even more, when going out to a new car, dining out, california the highest sales tax rate in the nation. what will be free about that? they are targeting every day purchases going after upper income, and what do you make of this, we will do what the republicans are dismantling on
capitol hill. >> we have a broken health care system but raising taxes on the middle class like sales tax and small business is not the way to fix the problem or solve the issue. nevada and texas are laughing all the way to the bank because california is going to chase the jobs right out of their state and if you don't believe me ask the oakland raiders who are moving to nevada because that will happen to california. it is too expensive to live there, teachers can live in the community and you can't run a business. >> they have cuba envy. we like what we are seeing over there. it doesn't work in europe or anywhere, it has been tried. it is a shame because a bifurcated place, kennedy knows this and a lot of people struggling. >> a single-payer type system.
>> a couple things going on, and -- the payoff was you had more money because you were not paying out-of-pocket, not paying premiums, you go to the hospital and get $100 or $1000 so coming from a place where it is in full force i can say in new zealand. with the hobbit beautiful house. and so there are like any policy decision, winners and losers but it is an interesting experiment. >> it is job killing and charles is right. california is more than beverly hills and silicon valley and a lot of people in interior parts
of the state that has been desperately hurt by a lot of climate measures as well as one of the things people in california especially lawmakers have to ask themselves are we going to make healthcare free for illegal immigrants? >> thank you very much. $1000 a share this week, first time ever. if you missed the amazon run, there are others poised to do justice. after this. this gap between when we should start saving and when we actually do is one of the reasons why too many of us aren't prepared for retirement. just start as early as you can. it's going to pay off in the future. if we all start saving a little more today, we'll all be better prepared tomorrow. prudential. bring your challenges.
>> big money stocks, our guys say could be the next amazon. charles what do you have? >> i love deere. they're taking over the largest maker of road paving equipment. doesn't sound sexy, but a $5.2 billion cash build and we're going to be building here and around the world. firing on all cylinders. larry. >> a great pick. industrial heartland, low valuation and competitive business, but they're executing and that's the most important here. charles, it's a winner. >> what's your winner?
>> you know, my winner is look, summer is here finally and low gas prices mean more people travelling. gas won't stay lone forever. we'll go with the i share dow epf-- >> charles doesn't have time to trash it. that will do it. >> we have among the most abun dent energy reserves in the planet, sufficient to lift millions of america's workers out of poverty. under this agreement we're effectively putting these reserves under lock and key. taking away the great wealth of our nation, great wealth, phenomenal wealth. david: protesters hitting streets after the president stayed we will exit the climate deal. and they say it will put the planet in danger. some here says it create more