Transcripts For FBC Cavuto Coast To Coast 20170615 : vimarsa

FBC Cavuto Coast To Coast June 15, 2017

President wants at that do today. He heralded a Capitol Hill Police, took what was an already awful situation and prevented it from coming much more and saving potential carnage there. The request to arm our congressman and women, maybe all should be allowed to carry weapons or at least have protection. There is back and forth on that the day after all of this. Meantime, were keeping what ensues with the selloff particularly in technology. You wouldnt know it with the dow down all of 24 points but this is concentrated beneath the surface with Technology Stocks resumed their rout couple days ago here. If we go through some of the Big Technology names here that are back to a big selloff here, on that, despite the fact that yesterday there was sort of a breather for a while, what people thought. You will have to take my word for it. We will show you these stocks. But for now, technology is still getting sold off. All right, as we go through these names here, that continue to slide off of course, since this incident and before and after. Now market watchers, jonas max ferris, jonathan hoenig, fox businesss charlie gasparino. Charlie, people say keep in mind the tech stocks are up appreciably for the year, certainly since Donald Trumps election, no denying that but theyre many are itching to correct. What do you think . Bank stocks are off today somewhat. Neil right. I would say this, listen to what janet yellen said yesterday, makes a lot of sense, barring trumps fiscal stimulus plan, even if they do pass it this year, Economic Growth will be about 1. 9 f they dont pass it this year, that neil Economic Growth for this year . Yeah, Something Like that. Correct me neil what do you make of the president seemingly hinting strong Economic Growth this quarter . He is saying it every day. He is a politician, that is what he is supposed to say. Were supposed to figure out whether he is telling truth or spinning it. Neil he is talking about the second quarter. Here is reality if they dont get the fiscal stimulus through, what the bond market is saying, and they are a better indicator where the economy is going and the stock market in the future, bond prices are up, people are looking at less inflation and less Economic Growth. They dont believe he will get his fiscal stimulus package through. That is warning sign for investors in the market. At some point if you dont get the fiscal package through. There has to be a selloff, i dont know how deep or how much. Neil 10year note here, to charlies point, were off the lows, these are 2017 lows, that is in yield for the year. Since backed up little bit. Dont read necessarily too, too much into that at this point. You know, jonathan hoenig, one thing that i do find curious, is this, obviously that is one ripe group, Technology Stocks, they were due for some sort of a hit or excuse to sell. Are you a seller . Neil, i think you have to be cautious. With technology that led the way up the googles, fang stocks have been strongest names. Nasdaq all of sudden at fourbook lows, that should bring some cause for concern. Neil, keep in mind the market is a come percent off its alltime high. Neil absolutely right. The real fear so many expectations now people had, lower taxes, much lower regulations, fixing obamacare as days go on and the administration doesnt stress them, gop running the table, if not now, when are the structural hindrances to the economy ever going to get solved. That is much of the risk. Neil a much has been made of washington drama, jonas, not just the shooting, widening investigation what appears to be widening investigation with the president himself, obstruction of justice you know the drill, these are still the latest distractions against an economic agenda that most of the market want to see enacted. An to charlies point that looks less likely at least in the near term what do you think . I think it is less likely but i think the market is beyond the trump bump at this point. That petered out in march perhaps. It is trading i dont want to call it irrational exuberance, not 1999 when it was all hope. These Tech Companies are dominating the world. That said, i would call it, like theyre drunk on success for lack of a better word. You see it in uber. There is too much money in these stocks. There is too much optimism. They have it to easy. They have been successful, not maybe they will be successful like 99. This is not a huge thing yet but i think there is too much money in it at this point. It will not go bankrupt like all these 99 stocks but i think it is due for neil names youre looking at facebook, apples, amazons, these are the survivors of the internet boom argument goes so they would survive this. Yeah. Neil charlie, you raise an interesting point about what janet yellen and the Federal Reserve was indicating theyre vigilant making sure inflation is in check, ironically they made the move when inflation was under 2 . You could argue theyre being too proactive here. What do you think of that . You worry about the head getting ahead of fiscal policy that is stimulative. I could give you a million worries of the market, whether get out of stocks or be prepared to blow out of stuff at some inflection point. Neil right. I will say this, this is countervailing argument not selling the market, in 1995 i believe, you had 8,000 listed stocks. Now you have half of that. There are not that many stocks out there. The administration is looking to roll back regulations. That is a net positive. On top of that you have easy money. Put all that together neil not as easy. True but basically had janet yellen yesterday saying i have to be convinced to raise rates next time. Neil thinking only one more hike this year. That is still pretty easy . That is a reason, maybe, to keep buying stocks. So, remember, the economy is, and heres the where it is sort of diverges. The economy is growing like crap, face it, 1. 9 , that doesnt mean the stock market, companies that will look for economies of scale, donesize, that they cant grow, they cant produce decent earnings. Im saying, temper your sort of willingness to sell with that thought because, there is still a buy here. There is still a buy rationale here. Neil what about for you, jonah, are you in the bullish camp, or whatever you want to call it . Neil, big moves are made over time and that is how the money is made. Look, were due for a correction. Jonas made this point. Weve been talking about low volatility. There isnt a lot of fear in this market despite the fact there are a lot of things to be forful about. Seeing 10 or 20 correction we are due for that. Neil when was last time we had a 10 . Have we had it in this rally . We had it but i forgot. Neil right. So were due for a little the thing for investors is, dont make it all or none decision when it comes to your portfolio and look for new buy opportunities when the finally makes correction. I dont think well have implosion. Neil kind of what youre saying, jonas. It wont be like a 1999, early 2000 preview to the, nothing like that . Right. Those companies, we had 80 nasdaq correction, were not due for anything like that. Have to watch overindulgence. Crypto currencies. I think you should add longterm Investment Grade bonds, than maybe more stocks. Dont prepare for doomsday which never really a good strategy, even if it doesnt happen, you dont know. As things that arent u. S. Tech stocks. Bonds, Something Else to get a little diversification, even though gives up some upside you see in these areas. I like Pumpkin Spice latte futures. Neil there you go. There is a reason why i hate you. This is the latest reminder. Guys, thank you, that did not apply to the two other fine gentleman. The president touting his jobs plan and theme he will push again and again. Blake burman at the white house what is behind all of this. Hey, blake. Reporter to push forward the need to buildout more apprenticeship programs throughout the country. The administration has been citing for better part of a week, six million jobs they say are left unfilled. They believe apprenticeship programs can sort of bridge that gap. To that end a little while ago here at the white house, the president signed an executive order. One of the things it allows the department of labor to work with companies, trade groups, even unions to build up these models, put together plans for appresent tisship programs, submit them to the department of labor. Try to get them approved and fasttrack them. That is one thing its doing. Another thing it is doing, the administration points to there are 43 different workforce programs throughout government. This allows them to kind of take a step back, look at that, see if any of that can be streamlined. President boiled this down, neil, to something weve heard him talk about for months on end now, which is trying to get rid of regulations. We will be removing federal restrictions that prevented many Different Industries and regulations on top of regulations, and in history nobody has gotten rid of as many regulations as the trump administration. That is one of the reasons you see jobs and companies kicking in so strongly. Reporter as for criticisms here, neil, a senior white house official was pushing back on the notion this might remove some of the oversight as it relates to appresent tisship programs from the department of apprenticeship programs. They dont want to focus on one thing. They want to expand the tent. Neil . Neil blake burman at the white house. After yesterdays shooting congressman thomas sass i introducing a bill that let those with concealed carry permits in the home state to do so in washington, d. C. , where they work. He is a republican from the beautiful state of kentucky joins us right now. Very good to have you. Thanks for having me, on neil. From the description of the incident yesterday that i received from my colleagues, it is clear the Capitol Police who were there were heroic. Had Steve Scalise not been there, there would have been far more, there would have been fatalities. And a lot of congressman would have been hurt. What im trying to do is anticipate how to he avoid a tragic situation in the future, you know, the American People dont realize is, most congressman do not have a security detail. And we are as exposed as the general public is exposed when it comes to our nations capitol. That is to say neil on Capitol Grounds you do, but not off the capitol you dont. Thats right. As soon as we step into washington, d. C. , or anywhere in the public were unarmed and unaccompanied for the most part. But i dont want to extend a special privilege just to congressman. I recognize everybody has the right to defend themselves. That is in the constitution. So the bill i introduced today, i will literally walk here to the floor and drop it in the hopper in just a second, it will allow anybody with a concealed carry per mitt in their home state to use that permit here in washington, d. C. , as if it were a drivers license. Neil what if you dont . Im sorry, neil . Neil what if you dont . What if you come from a state that doesnt allow that . You can apply for a nonresident permit in washington, d. C. , if you dont have a permit from your state. That provision is in the bill. In facts makes it slightly easier to get nonresident per mitt in washington, d. C. Neil d. C. Has some of the strictest gun control laws in the country, congressman. People hearing it, good congressman made sure he and his fellow congressman are protected i know what you said about trying to provide this for all, but if you are living in the district now, and you dont have this right now, how could you under this measure get that . Well, were working on legislation to do that as well, to make it easier for resident. Even though they cant apply for a permit. There are fewer in 200 people in washington, d. C. , that successfully completed that permit process. We need to work on that as well. But as somberness of this situation, you know sets in here on capitol hill, yesterday we were all sort of in shock. Today i think we need to start thinking about what to do in the future to prevent further episodes or to ameliorate those conditions. The irony, neil, is, those of us in congress who dont have police details, we are safer in our home districts where many of us do carry concealed weapons. We want to be able to extend those privileges to those who come here to visit us in washington, d. C. , also for us to exercise our rights as well as their rights. Neil do you think that maybe, you and your colleagues, there are 435 in the house, 100 in the senate, should have Security Protection of that, it might be rather expensive but, the risk of not having it in light of what happened yesterday shows that it might be worth it . I would rather us have the ability to defend ourselves, and for our staff frankly, to be able to defend members. Many of my staff are qualified to handle a firearm. Neil but you know what im getting at, sir. Sometimes arguments can get heated on the hill. Im just wondering if you are allowed to carry, all of sudden it is getting really nasty, you could start shooting at each other . Doesnt happen at home. I dont think that would happen here, but to your point, if groups of congressman congregate, common sense there should be a little of Police Protection there, even if one of them is not a member of leadership. By the way, my prayers are boeing out to Steve Scalise. Were all hanging on every word or piece of information we get on his condition. Neil thank you, sir, very, very much. Let me know how this measure of yours proceeds because its timing getting a lot of attention. A lot of attention it would not have gotten beforehand. Well keep an eye on that. Democratic read from all of this, california congressman John Garamendi, what he makes from this. 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For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Neil just wondering here, whether the message you had for example, during John Kennedys president den sy, reach out to republicans for a tax cut or Ronald Reagan where he reached out to democrats to get legislation through, whether that would even be doable . Actually working together and not demonizing each other and not drawing those lines and literally saying you are my enemy because i disagree with you, or because you disagree with me or because you have a different religion or race. When that happens that we see unfortunate tragedies like today occur. Neil yesterday, hawaii democratic congressman Tulsi Gabbard saying the tone has got to change in washington. Good luck with that. One other possibility is widening pool of security for those who serve in congress. Maybe to my next guests liking, all United States congressman and women, all senators as well, democratic congressman among those supporting that, not only one, John Garamendi is here. Thank you for coming. Good to be with you, neil. Neil we had one of our colleagues tacking about in the prior segment, sir, this notion, congressman and women should be armed, especially come from a carry state to carry a weapon. What do you think . Well if theyre from a carried state i suppose they could. Certainly dont want weapons in the house of representatives or anywhere around the capitol building. That seems to be a serious problem. I have a problem with the carry law itself. There are a lot of bars you simply dont want to walk into. In any case the issue of security for members of congress clearly, when there is a threat, and many, many members of congress have received very serious threats, they do need security. The rest of us, we go about our daily life. We go shopping, buy our groceries, do things most every other american does. That context i dont think were going to need security. But when youre out in public, doing a town hall or some other kind of event, yes, security is appropriate. Neil but youre out in public at a grocery store. It is different, really different. Youre there anonymously in most cases although many of us are known in our local community. Neil i would recognize you in a minute in a local safeway. I would stop and talk to you. That raised concerns that whole aspect i see where youre coming. A former colleague of california, im quoting, people are supposed to be able to come up go, yeah, thats you. You cant build walls up around elected officials. That is not what theyre supposed to do. The president might be a little different but not these 535, referring to number of congressman and senators we have. What do you say to that . I think there are situations you need to have security. As i said a moment ago, there are very serious threats against many many, many threats against my colleagues. Over the years i have had serious threats. They need to be investigated. State owe Capitol Police, or fbi ought to knock on doors of those individuals putting those serious threats forward. Neil but i mean if you think about it, congressman, there was an open carry

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