Phil flynn has his eye on oil and gold at cme. Hillary vaughn is live in dallas today at a google roundtable event. Gerri to you first on the rollercoaster session. Reporter wow, wow. You said it at one point during the day we dropped 336 point on the dow the within that hour we turned green. Maybe expectation after rate cut, maybe two by the end of the year. Traders like that idea even though the Services Sector appeared anemic here. Dow, one week. We were down 840 points combined tuesday an wednesday. Now we are in the green today. But on the week, the dow is down more than 2 . S p down more than 2 . Nasdaq down 1 . We have got a ways to go to see our way through this thicket. Dow laggards this week, 3m, one of the industrials stocks getting killed bit manufacturing report earlier in the week. Price target cut by barclays and credit suisse. Bad news for 3m. Theyre down 5. 63 . Caterpillar same story. Industrial stock getting hammered by this bat news on manufacturing. Goldman sachs, entire Financial Sector traded lower this week. We know the rate cuts are coming. That does not help bank profits. There you have it. Nice turn around today but we have a ways to go to be positive on the week. Hope sprigs eternal for friday though. Connell thank you, gerri. Paul dietrich with us, fairfax global ceo, and chief investment officer. Mike, you take this first. We bounced today. Were due for a bounce but not on good news, bad news. A rough economic report this morning as gerri said were counting on the fed. What do you make of this environment . I think this is overreaction to a lot of these surveys that came out. I will tell you that this is survey data, not hard data. Last year and in 2017 a lot of survey data was up in the 60s. New orders as part of ism was the highest level since the 1970s. So where was the euphoria then . Why is everyone apocalyptic now . Personal consumption at the moment is up at 8. 7 annualized rate since 2017. The highest level of the decade. I think were humming along but manufacturing has hit a speed bump. Connell your point, michaels point, paul interesting to see if you disagree with this. Not to horrible that the fed may bail us out but maybe things are not as bad as we thought. What do you think . No question the economy is slowing but you have got to put it in perspective, investors have to do that. We had 3 growth last year. Well have 2. 2 , 2. 3 growth this year. That is a significant drop but, if you remember, the last four years of the Obama Administration we averaged 2. 2 growth. We had a bull market during that time. 2. 2 growth is real growth. I think well slow down even more next year. Well probably see recession in 2021. Melissa september jobs report due out tomorrow morning following a tough week for the markets. So what can we expect from the report . Michael what do you think . I dont think were going to have a blowout jobs number in either direction. I think well get an okay number about, somewhere between 120, 130,000 jobs. Part of the reason for that, there is not a lot of people left in the workforce. Melissa right. At the moment there is 1. 2 million more Jobs Available than people looking for work. If you look at the weekly jobless claims, were at he lowest level since the late 1960s on absolute basis even though size of labor force is doubled. I dont think there is much more to add. Im looking at manufacturing jobs, are we adding, are we declining, how does wage growth look . Melissa paul, what will you drill down on the report. What do you think about wage growth . I agree with michael. Youre absolutely right. That is what we have to look for. If were getting over 2. 7 wage growth, that means the reason employment growth is going down is because they just simply cannot find the laborers. But if wages are going up that means, thats a good sign in that it means that people are having to pay more for few workers still qualified to do the business. If it is less than 2. 7, it means were really seeing slowing employment growth. But i think were going to see decent wage growth. I think thats a good sign for the economy, even if we dont quite hit analyst projections. Connell well watch for all that tomorrow. Talk about oil right now for a moment. It was down today. That is eight sessions in a row. The longest losing streak for oil in 11 months. Phil flynn joins us from the floor in chicago. What did you see today, phil . Reporter connell i saw a market really concerned about the Global Economy and demand and that really caused the market to really tank today. It turned around but not as big as the stock market. Couldnt quite get higher in the day. Closed 12 lower. Which usually sign there is more pain for oil. If you look at oil products they had a good day. They got higher in gasoline. Diesel fuel came back really, really strong. We had comments from russia, russian oil minister. Saudi oil minister. Theyre saying people are too negative on demand. Were seeing reports actually Global Demand for oil was very strong in august. Gold, on other hand, came back. Recession fears are good for gold. Goldman sachs said perceived threat of recession will drive gold to 1600 an ounce. You dont have to have a recession. Just perceived threat of one and gold will shine. Connell phil flynn in chicago. Melissa first testimony in the impeachment inquiry quicking off today. The president is firing back. Blake burman at it white house. Blake. Reporter President Trump calling not for one but two different investigations into joe and hunter biden as he left the white house for florida earlier today. The president said that ukraine and china should look into the bidens. The president was then asked whether or not he has discussed this at all with president xi xinping . I havent but certainly something we can start thinking about because im sure that president xi does not like being on that kind of scrutiny where billions of dollars is taken out of this country by a guy that just got kicked out of the navy. He got kicked out of the navy. All of sudden he is getting a billion dollars. You know what they call that . They call that a payoff. Reporter the president takes issue of Hunter Bidens travel with his father, that image in 2013. Days later a private equity fund hunter biden was involved with received money from china. The president claims 1. 5 billion but the Washington Post fact checker has disputed that figure. In a Statement Today the Biden Campaign said the president continues to engage in what they see as an abuse of power adding as well, quote what donald trump said on the south lawn of the white house was this elections equivalent of his famous, russia, if youre listening moment from 2016. A grotesque choice of lies over truth and self over the country. Those comment came as the president was leaving for florida where he signed an executive order involving medicare. He had a bit of a dual role as the president was giving his position, saying he wants to strengthen Medicare Advantage while going to the swing state of florida and attacking medicare for all which Many Democrats back as socialism. There was one point there, melissa, connell, toward the end that raised some eyebrows as president said the nonsense, the hoax that he calls it, essentially talking about impeachment efforts, could very well be backed by big pharma. The president saying that he quote, wouldnt be surprised if it was some Industries Like pharmaceuticals that we take on. Back to you. Melissa huh. All right. Blake burman. Thank you. Connell another day. Making a pledge meantime to American Workers and small businesses. Ivanka trump, joining the Google Ceo Sundar Pichai for a roundtable discussion that took place in dallas. That is where the tech executive made announcement of a 10 milliondollar addition to support entrepreneurs. Hillary vaughn was there for it. She is on the scene with details. Hillary . Reporter connell today google signed on to President Trumps pledge to American Workers by also announcing an expansion of their successful i. T. Certificate program. That program will now be available to over 100 Community Colleges around the country. That will open up over 250,000 new job opportunities. Form partnerships and introduce programs to create Economic Opportunity for people in all 50 states. Im proud to be here to sign to pledge to americas workers to take this commitment even further. Reporter so far 85,000 people have participated in the program. Those that get the certificate get access to googles job board that features job openings from Major Companies like ge, hulu, walmart. Those companies have agreed to look at candidates who have googles i. T. Professionals certificate. Ivanka trump joined pichai meeting with students at a Community College in dallas. I want to highlight three students we met today. When google says theyre committed today to signing our pledge to americas workers and creating 250,000 new training opportunities, we have people that [inaudible] reporter right now there are over 200,000 job openings available for i. T. Position but not enough qualified workers to fill it, connell. Google along with the white house is trying to change that the big perk of this all you dont need a College Degree to participate in this program, which means you can get a really goodpaying job with no student debt. Connell. Connell Hillary Vaughn live in dallas for us. Melissa michael and paul are back with us. To me that is one of the biggest stories of the whole entire day. This is what businesses have been saying they need to do but they need the red tape out of the way. They have to get out there to train the workers that they need. They have all these open jobs. Ivanka trump has been working on this behind the scenes trying to connect businesses and communities to get these things up and running. Michael what is your tech . What is your take . Is this the blueprint for Companies Going forward . You know, ivanka trump has been really active in all sorts of job training. Just as an aside, going to the military, letting those certification for bluecollar jobs go across. Getting inmates released from prison job training to enter construction and labor workforce. This is another example. Google, 10 million is like couch change to the rest of us. Melissa yeah. Google has 90 of search. Theyre in big danger being broken up. I think they need to add a few more zeros to that program if they want us to take them seriously. Melissa paul, i dont think they would mind doing that. This is not charity. They dont have enough workers to fill jobs. All the companies are in the same position. They need people with the right skills. I love the idea you dont need a College Degree. Come in the program and you are ready to work. That cuts down on the debt problem. This is the future of week. They already trained three Million People in digital services. A former secretary of labor just said a few weeks ago, top 10 in demand jobs in the United States did not exist 10 years ago. I should make one other point. This particular program with 10 billion or 10 million is for minorities. They have actually, google is actually pledged over one billion dollars for this Overall Program and this is just a small part of it. So i just wanted to give them credit for that. Melissa absolutely. Guys, thank you. Paul, michael. Appreciate it. Connell another top issue of the 2020 race. President trump cracking down on the progressive push for medicare for all, a move he says puts americas seniors most at risk. Talked about that today. Well break down the new white house plan for you. Melissa plus the scandal still rocking the nation. Another parent sentenced in the College Admissions scam. What his time behind bars could mean for the rest of the cheating elite. Connell an unexpected shift. How a candidate who wants to break up big tech is apparently emerging as a frontrunner in Silicon Valley. Melissa thats a fascinating story. Connell it really is. Well have later on in the hour. Ats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums sometand with theall screen Xfinity Stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Keep what you watch with you. Download the Xfinity Stream app today and get ready for Xfinity Stream tv week. Watch shows like south park and the walking dead october 7th through 13th. Connell taking aim today at medicare for all, President Trump issued an executive order outlining a vision for how medicare should work. Phil keating covering that for us. On the ground near the president s event in florida. Phil . Reporter connell, President Trump left washington this morning and the on going impeachment inquiry, coming down here to Central Florida for a far more friendly territory, the massive villages retirement complex where in 2016 the president won 68 of the vote. He is on his way now back to washington on Board Air Force one. However, while he was here, the president signed an executive order in front of about 1000 enthusiastic retirees. He spoke of keeping medicare intact. The order is called protecting and approving medicare for our nations seniors and the president is vowing to protect patients, deliver affordability, and give seniors options and quality. Slamming medicare for all and socialized medicine proposals being touted by democratic president ial candidates like Bernie Sanders and Elizabeth Warren, claiming those proposals will lead to months long waits for health care and operations and reduce quality and options. Medicare is under threat like never before, you know that. You will not be very happy here. Almost every major democrat in washington is backing massive government takeover that would totally obliterate medicare. Reporter 50,000 retirees live here at the villages where golf carts are the thing. In florida, a third of the state is over 55 years old, with nearly five million using medicare. We met with a retired couple in their 70s. They tell us their biggest fear when it comes to future health care is simply the big unknown what is going to happen to medicare. The concern is, that we have, we like medicare now as it is and it is done well for us. Were healthy folks. But, the concern is, what might happen in the future. That is the biggest deal. Reporter medicare is always a big concern for americas Senior Citizens and retirees. As the baby boom generation continues to add and retire to the pool the Medicare Trust fund is always under threat. It is currently forecast to at least remain solvent until 2026. Connell phil keating from the villages for us. Melissa here to react, Hadley Heath Manning from the independent womens forum. What do you think about todays event and the message . It is a sharp contrast, melissa, between the president s agenda on health care and the democratic agenda on health care where democrats want to eliminate private options and replace the private marketplace with medicare for all. This as President Trump saying i want to strengthen, preserve medicare for seniors, the population it was intended for initially. Make it fiscally solvent and more affordability. He wants to make medicare more like the private market and make the private market more functional. He has demonstrated in other actions on health care, he wants to give patients of all ages more choices when it comes to the plan, where and how they receive health care. Its a pretty stark contrast. Melissa what is more tempting political message . I understand the idea when we talk about medicare for all, there isnt enough money for that even if you confiscated all of the income of our top whatever percent. We have all seen the numbers but at the same time that doesnt stop people hoping, wanting to believe in it the way they wanted to believe in obamacare . Do they still win with the message well spread great medicare thing out for all . Or do people understand math and appreciated president s message . What is your take . You know i think the challenge is, americans are compassionate people. We want to be sure everybody is taken care of. That no one falls through the cracks. Part of appeal for medicare for all, the promise, false promise it would protect everyone. Meanwhile we have had for a long time safety ned programs like medicaid which Affordable Care act expanded i believe to the detriment for most vulnerable people. The same thing would happen if medicare expanded. Seniors who are the primary population that medicare was designed for would no longer have the Safety Net Program that is designed for them. So i would really caution against the idea of moving to medicare for all. Melissa i dont want too interrupt you, i think what youre Say Something factually correct in terms of the nations resources do people currently on medicare get if we try to spread it out, they for example, use four times in dollar terms the amount of benefit as to what they paid in . That is why it only works for a limited portion of the population. Obviously you cant spread that out to everyone, so they would lose their benefits . Do you think people currently on medicare get they would lose so much . I think some of them do. I think it is difficult when you talk about medicare because in contrast to medicaid or other Safety Net Programs, medicare is one throughout our working lives we do pay n we pay something in. Of course many seniors continue to pay while they benefit from medicare. They have premiums. Maybe on a Medicare Advantage plan or supplemental plans. There is sense of ownership medicare patients feel. It is the case no matter what your age people satisfied with the Health Insurance plan want to keep what they have. That is challenge for politicians. That is the challenge for president obama when he promised if you like your plan you can keep it. Well fix the Health Care System for other people who had a need. We saw how that worked out. People couldnt keep the plan they liked. When they hear about talking about expanding medicare, ultimately take medicare for all at its word. It will be eventually for all, for everyone without private options. Melissa hadley, always great to talk to you. Thank you. Thank you. Connell fox business alert. Costco just came out with its Fourth Quarter earnings results. The stock is selling off on the numbers, gerri willis. What did they say . Reporter this could be better. A disappointment on both the top and bottom line. Show you numbers, eps coming in at 2. 47 versus 2. 54 a share as the estimate. Revenue, a bit of a disappointment too. Actually 47. 5 billion. Estimates, 47. 57 billion. They just didnt make it. Analysts expected improvements yearoveryear of 7 . It was not to be. Even samestore sales a bit of a disappointment. They came up 5. 1 . But i got to tell you, expectations skyhigh for the talk. One analyst calling it a Business Model safe haven in a retail battlefield. Maybe not. Here is the big question for tomorrow i think. Is this read as a failure of management, which i got to tell you there is a lot of confidence in management of costco, or is this about the economy . I guess well have to wait and see. Disappointment for costco here. Connell it is not a huge selloff interestingly enough in the stock. Only down 1 1 2 . Well see what happens tomorrow. Thanks, gerri. Melissa one for you, 19 for me. A new survey counts how much of your money the taxman takes. You wont believe what it all adds up to. Economist ben stein does the math later in the hour. Communist authorit authorities looking to crack down on protests. A new move that might change the future of demonstrations there. 300 miles per hour, thats where i feel normal. I might be crazy but im not stupid. Having an annuity tells me retirement is protected. Annuities can provide protected income for life. Learn more at retireyourrisk. Org annuities can provide protected income for life. Cologuard colon cancer and older at average risk. Ive heard a lot of excuses to avoid screening for colon cancer. Im not worried. It doesnt run in my family. I can do it next year. No rush. Cologuard is the noninvasive option that finds 92 of colon cancers. You just get the kit in the mail, go to the bathroom, collect your sample, then ship it to the lab. Theres no excuse for waiting. Get screened. Ask your doctor if cologuard is right for you. Covered by medicare and most major insurers. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare, youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then youre still responsible for 20 of the cost. Next, lets look at a Medicare Supplement plan. As you can see, they cover the same things as original medicare and they also cover your medicare deductibles and coinsurance. But they often have higher monthly premiums and no Prescription Drug coverage. Now, lets take a look at humanas Medicare Advantage plans. With a humana medicare plan, hospital stays, Doctor Office visits and medicare deductibles are covered. And, of course, most humana Medicare Advantage plans include Prescription Drug coverage. In fact, in 2018, humana Medicare AdvantagePrescription Drug plan members saved an estimated 7400, on average, on their prescription costs. Most humana Medicare Advantage plans help you stay active and keep fit by including a Silver Sneakers Fitness Program at no extra cost. And, you may be able to save on dental and vision expenses, because coverage is now included with most humana Medicare Advantage plans. You get all this coverage for as low as a zero dollar monthly plan premium in many areas. And your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you can save on your prescriptions and to get our free decision guide. Licensed humana sales agents are standing by, so call now. Connell cracking down on protesters amid rising rage. Honk con officials expected to invoke Emergency Powers that would among other thing ban face masks at the protests. Talk about it with james carafano, Heritage FoundationVice President , National Security and foreign policy. This is interesting in some ways, i was there at the very beginning of the protest movement in june. I naively walked up to some protesters when we first got there to ask them about the masks, are you afraid of tear gas. A little bit. These masks wouldnt do much for that. Were afraid people seeing our faces. They do not want the authorities to see them f the authorities do move this direction, what impact would it have on protest movements . That is really interesting development. We havent seen this kind of legislation talked about in hong kong since the 1960s. What it tells me, remember the old ancient maps . We gone off the end of the earth. People are making it up. Nobody had a plan on what to do. All sides are making it up as they go along. The Hong Kong Administration really frustrated and clueless how to december escalate these. Deescalate. Theyre throwing spaghetti at the wall. Connell were joined live in hong kong by fox news correspondent greg palkot early in the morning there. As we become accustomed to talking about greg, what is the latest as you sit there early in the morning, greg . All right. Obviously a little trouble hearing. I only waited a extra second, thought maybe it was delay in the satellite. James, lets continue our conversation. We would talk about what is next that is the question. Theyre throwing stuff at the wall, seeing what sticks. And we had a guest on yesterday, a couple days ago from hong kong, one of organizers, how will this end up . Nobody really seems to know. It keeps going . How does it end up . Nobody really knows. We have a good analogy for this. Think back earlier this year when we had kind of attempted coup in venezuela. They tried, there was a big standoff, how will this end . It is still going on because, it was like a road accident. Nobody really expected to be there. Nobody really knew how to get there from there. That is the situation of all three sides, hong kong government, Chinese Government and protesters nobody knows a way out of here. All the fault goes back to the Chinese Government. They encroached on basic law which insured one country, two systems that preserve the economic and Political Rights of the people of hong kong. They started to encroach. It blew back in their face. They just kind of been watching this like a a a dumpster fire. Theyre clueless hue to help the people of hong kong. They are not doing anything proactive, Construction Activity to end the situation. Theyre doubling down on failure to address the responsibility to their own citizens. Connell in your writings you talk about the issues beijing is facing quoteunquote problems for the regime and you mentioned hong kong as one of them. You said something that it damages the Chinese Government brand to some extent and it is happening at a time obviously there are other issues china must deal with, not the least of which is trade back and forth with the United States. We have talks resuming next week. If the thing drags on and on and on, can we have a trade agreement between the two countries . I do think these things are going on separate tracks. They are not connected. Collectively they have to wear on regime in beijing. The economy is slowing. Theyre not having success in the trade negotiations. Hong kong is an embarassment. Belt and Road Initiative is looking skeptically and huawei. It is coming to roost. On 70th anniversary look at chinas great success, emergence on the world stage, they looked like a fragile giant. Connell from hong kong they do. Do they look that way from the main land . I know the pictures are propaganda we only see the best of the best. Will we see that in Mainland China . No i dont. People look at hong kong, you people have everything, what are you complain about. There is very little sympathy. Theyre looking at their own lives and situations. Slowing economy. All other things i think they will weigh on the chinese. I think the chinese will have to go through a period of introspection here and say, we burst out of the blocks three years ago after party congress, china has arrived. Looks like they forgot to put their pants on. Connell it is something of a mess. James carafano, always very interesting to get your analysis. Thanks for coming on again. We appreciate it. Thanks for having me. Melissa another parent in the College Admissions scandal facing a judge for sentencing. Were live in boston with details. Connell Silicon Valley, is it embracing senator Elizabeth Warren despite the warning to break up big tech . Donors are warming up to the idea of her as president. That would be surprising. Melissa yeah. Connell well have reasons behind the sudden change coming up. Melissa starbucks is working on a store in penn station, starbucks pickup, they only accept orders for people who place orders on their phones. They have yet to announce an opening day. Sounds cool though. Maybe ill win saved by zero 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. was in an accident. When i called usaa, it was that voice asking me, is your daughter ok . Thats where i felt relief. Were the rivera family and we plan to be with usaa for life. See how much you can save with usaa insurance. Melissa future ridesharing hitting new heights. Uber expanding its Helicopter Service in new york city, giving all users option of hailing a chopper from Lower Manhattan to jfk airport. The service initially launched early this summer but only ubers top tier riders could use it. Now customers can book the copter on an app for an average of 200, to 225 per person. That is pretty cheap. Just like the companys car service, the price fluctuates based on demand. Connell surge pricing to jfk. Hard time. The latest parent sentenced in the College Admission scandal, gordon caplan, former cochair after Prestigious International law firm. He found himself on the other side of the bench. Molly line continues to cover this story. She joins us from boston with the latest. Reporter hi, connell. Gordon caplan is expected to selfreport to prison november 6th. He has been sentenced to one month behind bars and the expectation is that he will selfreport like many of the other parents at this point been sentence thus far. Prosecutors initially called for eight months, argued in court unlike others embroiled in the scandal who first engaged with singer for legitimate services, his relationship with the haster mind was a scheme from the start. Unlike other parents, kaplans daughter was unaware of her daughters cheating efforts. Father es cheating efforts. Caplan repeatedly apologize which he did outside of the courthouse again earlier today. I fully respect the decision of the decision of the court today. Im deeply and profoundly sorry for being involved in this, this mess. I am focused now on doing everything i can to regain some portion of my good name. Thanks. Reporter looking ahead another father learns his fate tomorrow. A wealthy california inventor agreed to pay 300,000 in bribes to test cheating and faking athletic scandals. He will be sentenced tomorrow in front of the same judge. Hard to see what the sentence as parents move closer to trial. Among that famous fav, Lori Loughlin and her husband as they face trial. Connell saga continues. Thanks, molly. Melissa outside role in the college process. One potential move to knock down a barrier on a major admissions requirement. Connell tax dollars hard at work. Melissa no. Connell where most of your cash is actually going. How americans can turn the tide. The great ben stein is here to sound off coming up next. The world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. This is the family who wanted to connect. To go where they could explore and experience adventure in unexpected places. Who were inspired by different cultures and found that the past can create new memories. Leading them to discover were woven together by the moments we share. For everywhere you go, expedia has everything you need, all in one place. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. So you can save big. Get a nofee personal loan up to 100k. Melissa so do you know what your biggest monthly expense is . Is it mortgage, food, energy, clothing . What do you think . Nope, none of those. Average american paid more in taxes in 2018 than they did for food, clothing and health care combined. This is according to a new bureau of labor statistics report. Here now to discuss it is economist ben stein. Ben, it is great to have you. I always make this point, that if you looked at your expenses at the end of the year, your biggest liability is the government. Do you feel like youre getting your moneys worth. What do you think . Do you feel like youre getting your moneys worth . I feel like im getting my moneys worth because im a big hawk on defense. I want to spend as much possible on defense to keep us free from any possibility of soviet or chinese aggression. Im good with it. I tell you what the real problem is, were at a point where were at low tax heaven. Taxes will go up. Were running enormous deficit only way taxes can go is up. Were paying 16,750 a year for taxes but it is going up, up, up, because were running 4 or 500 misdemeanor Million Dollars deficits. Were running trillion dollar deficits every year. Well find ourselves paying so much in taxes it will crowd out all other expenses put together. Melissa where does all the money go . You talk about how you like it to be spent on defense but that is only a type any portion. I walk around new york city, were paying more taxes than we ever had before locally and the streets are a mess. It is the quality of life is not higher . Well, quality of life is not higher for but lets remember, included in this tax is support for various people that are old or older, disabled, retired. There is some double counting going on here because cost of health care is not counted once but twice. It is counted as private expense, counted as public expense. It should be counted as one or the other not as both. Were spending awful lot to keep society afloat. We are a very, very lowtaxed country compared to other countries, compared to denmark, holland, sweden or germany or france. We are a lowtaxed country. Whatever problems we think we have now with taxes being too high, theyre going up, up. We cant avoid it. And it will be a real problem. Melissa i think of one way we can avoid it because your logic is making me want to jump off a bridge. We can avoid, cant we cut back on spending, spend less rather than raising taxes . What would you advice, well it is not it is profligate to you or not profligate to people who get the money. It is real serious. Melissa how about waste, fraud abuse . They always say that. Im an old man. Im probably twice as you, maybe three times as old as you because you look like youre very, very young. Melissa flattery will get you anywhere, ben. Saying waste fraud, abuse as long as i can remember. It is not waste, fraud abuse. It is supporting people who otherwise would not be supported. Awful lot of people in this country who would be starving, destitute and walkers begging if not for the fact of government support. Melissa i dont know we have a lot of Social Security disability fraud. We have a lot of open jobs in this country. How are you going to fix that . How are you going to fix that . How are you going to fix that fraud . There are a lot of clever people out there doing the fraud. Melissa we should let it go on . Well, i dont know that we should let it go on but we have would to become a police state to stop it. A awful lot of people spying on each other to stop. Make it harder to get it in the first place . Well, people say it is already too hard. It is not really too hard. People can get all kinds of money free from the government. Melissa yeah. But i just want to point out however bad we think it is, it is going to get worse. Cheer up. Everybody. It is going to get worse. Melissa all right. Ben i love but now im really depressed. Thanks for coming on. Im sorry. Connell he is not really sorry. How about this . A major shift in the college process. Leaders in at the university of california considering dropping s. A. T. And act exams as admissions requirement. Melissa what . Connell what could that mean for the future of standardized testing . Were looking for somebody we could ask. No one other than david asman. My interview with ben stein, ben is three times older than melissa i didnt know . I love that debate. In fact i would love to know since it is in california, that is where ben stein keeps trying to convince me i have to move to. We should bring him back in to talk about it. The point, china, a lot of other countries competing with the u. S. Now are competing on basis of the quality of the education, particularly in science and math that their students have. This is the last thing we need to do, cut back precisely that thing which the chinese are beating us with. The study they are doing, many, a lot of it is wrote studying maybe they can do communist country rather than democracy like ours. You dont want to cut back on testing we need to keep our competitiveness. Connell i hear you. That is what we need. I was asking what is coming up on the show but ben stein took up all the time. Talking with dr. Siegel, medicare and socialism. Stuff ben stein would love to talk about. Connell 5 00 p. M. , top of the hour. Bulls bears. Well see you then. Melissa mysterious match. Silicon valley billionaires are slowly embracing Elizabeth Warren despite her push to crack down on big tech. What is behind the shift . Thats next. Connell winning over Silicon Valley this is really interesting Elizabeth Warrens call to break up the Big Tech Companies apparently are not stopping some entrepreneurs out there from warming up to the senator as she surges in the polls, firmly in second place in the democratic race in the latest cold polls weve received but is she staying cold on them, lets bring Adam Lashinsky and he knows this industry as well as anybody does, fortunes executive editor fox business contributor, so this story is interesting it could be as simple as they think shes going to win or maybe theres more to it but what do you think . Well i thought it was an outstanding story because they were asking all of the right questions and they didnt get to any true bigshots because no big shots are going to say what they really think especially this early in the game. Theres basically two reasons at play. You already said the second one connell its just Good Business sense of you think someone is going to win or has a reasonable chance of winning then you support them because you want to be able to tell them when theyre in the white house that you supported them. Number one the vast majority of these people are democrats. In some fashion or another they have one goal in mind which is for donald trump not to be president after the 2020 election. Connell we were reading it ourselves and wondered whether there was anything to the idea that some of these Silicon Valley folks whether its Venture Capital people or just entrepreneurs who started smaller company, that they wouldnt necessarily be opposed to breaking up the big titan, maybe they would benefit from it they arent against some of these ideas i dont know. So thats a great point. There is a very strong, if quiet , minority in Silicon Valley that feels that google and facebook and apple and amazon a little bit in particular are hurting Silicon Valley as we know it but theyve become so dominant and snap up these little companies or worse, copy their products as soon as they start to get some traction, that the true magic of Silicon Valley isnt happening so i think those people although they are reluctant to say that they support Elizabeth Warrens plan outloud, support Elizabeth Warren. Connell but do you think they are right to do it, you know the business. These policies if they went forward i understand theres an argument you couldnt get some of the stuff passed but if they went forward, it wouldnt help those people in the industry would they . No, i think first of all, you know, if you just focus on her plan to break up the mega caps, that would help a lot of these people. It only effects the way she wrote it i think its over 100 billion in market cap but you can count on one hahn the number of companies that connects and so yeah that gives opportunities to all of these other companies they have nothing to fear from that i think. Connell the really interesting discussion just given all of the attention shes got in the last week or so, and as well as shes been doing in the polls adam always good to see you talk to you again soon. Thank you. Connell there you go. Melissa so it is interesting because even people that would hurt them in the shortterm after they worked with those companies, they had their dream is to go out and start their own companies so it would give them the opportunity if the bigger ones were broken up. Its just interesting to think about. Connell well have plenty of time, over a year to talk about it. Anyway, we said today would be interesting to watch and it was. Tomorrow we got the jobs report so the market bounces well see what happens tomorrow. Melissa up 122 points that does it for us. Bulls bears starts right now. President Trump Medicare is under threat like never before. As long as im president no one will lay a hand on your medicare benefits. Democrat healthcare proposals would put everyone into a single socialistic governmentrun program that would end private insurance for over 180 million americans. David President Trump slamming the medicare for all proposals by 2020 democrat hopefuls as he touts his own vision for healthcare, trump telling a crowd of Senior Citizens in florida that medicare for all is just a fancy name for socialism and no amount of money will ever make that work. Hi everyone this is bulls bears thanks for joining us. Im david asman joining me is