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. Well fill you in on all that. And from times square to wall street, what a year, what a decade its 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. Its the dows best year since 2017 and the s p 500 and nasdaqs best year since 2013. The dows more than 170 gain since 2010 now ranks as the fourth best decadelong performance in the past 100 years. And now theres 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. Im david asman. Joining me on the panel today, jonathan hoenig, liz peek, kevin kelly and john burnett. Well, the president delivering a surprise new years 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. Highlevel 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. Weve seen wages rise, weve 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 thats conservative. David well, and liz, to johns point, im 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 its 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 its well deserved. You mentioned the two most important things, deregulation and tax cuts. Thats what he ran on in 2016, thats what hes delivered. And i think with all the naysayers saying its the 1 thats 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 whats 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. Youve got a huge reliance on rentals, and thats going to change. So thats just another thing to be excited about next year. I dont 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 theyre actually going to be signing phase one of the deal. We have been hearing that, im just going to say, the entire year long david we havent heard a specific date and i think Peter Navarro came out and said that its in the bag. I think theres 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, havent been addressed yet. And, of course, theres 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 theres reasons to be bullish. This economy is still the most individualistic, the most capitalist, the most successful in modern history. And to johns point, as long as we stay capitalist, as long as we stay free, theres no reason that momentum cant continue. Well, the issue with the chinese trade deal too that we, thats 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 havent 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. Weve 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, its 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 its usmca or china. I i know its just phase one, but the fact is he got phase one or hes about to sign it. So its the follow through. When deregulatory policies are just extraordinary, the tax policies. And there is more to come. We saw, what we saw wasnt vast between the u. S. And china was a dance. And were going into phase two. And theres 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 theyre going to produce. What im most concerned about is what theyre going to do with hong kong. Its things like that. Outside of the economic elements, its 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 theyve 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, thats a good thing. At what cost . You tell me, i mean, the markets is at alltime highs, etc. Ill 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, its 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 were 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 jonathans 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 thats why youve seen yeah, and coalesce around this administration. And the uncertainty created by the trade war also has a cost to the gdp. What youre 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, thats spectacular. Of could it have been more speck spectacular . Yes, perhaps, but spectaculars 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 . Were going to be asking Lieutenant Commander jasser coming up next. Lets look at australia, which is ringing in the new year. Thats 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 nofee personal loan up to 100k. Get a nofee personal loan most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. 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 iraqs sovereignty. It is a violation of all norms and values. This aggression wont 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 weve seen over the past few months in the streets of baghdad and surrounding cities. Many of these protesters are linked to iranianbacked 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 theyre 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 weve 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. Theyve 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 whats going on with their enrichment programs with Nuclear Weapons . It seems like that is really where theyre wanting to continue to enrich, and theyre 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 youre absolutely right and that they want us to have the shiny ball that theyre moving. One day its yemen, the next its in baghdad, the strait of hormuz, theyre attacking tankers and other things. They really dont necessarily have a plan other than to continue to distract us. The legacy media other than fox continues to focus just on the antiamerican element. Theyre 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 thats happening, and theyre ignoring it. The best antinuclear program, and ill tell you the only antinuclear program as weve talked on this program for months is the revolutions support of continued pressure, the economys collapsing in tehran, and theyre 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 theyre chanting. So theyre 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 irans proxies. Is the administrations 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, its like treating cancer. Patients get a lot sicker before they get better, is and we are headed in the absolute correct direction. You cant 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, whos 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. Its become an arm of the Iranian Regime, and we cant 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. Theyre 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 its 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 whats 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 tonights deadline. Why she could be losing steams only weeks out from the iowa caucus. And before we go to a break, lets take a look at south korea, the way they rang in the new year. Of course, south koreas got a lot more acti