They say that created an unknown factor. Other climates talk about the tax cuts for a sugar rush. They say its not clear if people will spend in the if youture as they did during the Second Quarter. President trump addressed the issue of sustainability. He predicted growth of 3 or better. Emphasis on better. Here is the president. In the Second Quarter of this year the United States economy grew at the amazing rate of 4. 1 . Ill say this right now and ill say it strongly. As the trade deals come in one by one well go higher than these numbers. So, neil, most economist if you look at on average what they expect they expect 2. 5 through the end of 2019. That eye higher than the 2 they have been tracking. These are the same economist. Yes, indeed. All right, thank you very much. Now to the remark the president made to sean. He thinks if you think this is off the charts how about eight or nine percent. He said he could do that by have the Trade Deficit that will have a benefit to the counsel tray. Think of that and you get the economy booming at double the rate it boomed in the Second Quarter. Lets get the read. Question vagar have gary here. I dont think so. Not because the numbers is too high. A 20 trillion is tough to grow at 8 . Well continue to take 4 . Thats a big number that will keep unemployment down and the
market in good steady. Lets hope it continues. The argument has been if investment picked up a like amount. This is at the minimum thats significantly higher. All things would have to align. Trump would have to barrow from the treasury. Thats what it would take. Every other state. You cant really get to that growth rate. There are things going on that could lead to continued fast growth. The red fall Federal Reserve is not raising rates. You are getting this Hurricane Effect were people do deals before the tariffs that may never escalade. You do your deals as aggressively as you can. Thats with these number. This is not sustainable. Get another hot quarter scare people to doing business. You worry about the trade thing. The trade war, in theory, could have factories lead to the economic boom. This is where i would have an issue with that. There are many factors here. One thing that was a constant on Consumer Spending. It was four times what it was in the fourth quarter. That goes apart from trade. That will tell you in the face of higher gas prices americans were predisposed. Im wondering, what that could petary. That has to do with the tax cuts. Thats the argument the
administration would be making. Why werent they doing that in the First Quarter . I dont know, maybe they were waiting to see how it shook out. I believe its a Wai Wait And Se and thats im not a financial analyst. As a political analyst i would caution everyone thats saying this Isnt Sustainable or about to explode or go to 7 or 8 . That sounds crazy town. We have been at 2 to 3 for a while. The president is right if i can oversee a 3 economy that will be a very successful thing. Its been 3 for a year. We havent done that for a better part of a decade. Because of this, this can
happen the psyche of American Business has changed. Im speaking to ceos and Small Business owners. They feel like they have the wind at the back instead of the wind in their face. Even with the trade stuff. There are things i dont like that he does. They feel like the government is on their side. If we can continue that way. If with ecan lower taxes and have less regulations. The reason why is we were going the opposite way. Business dont know what because next to hit. We talk about obamacare. That mandate was big stuff. Even a little up tick. Whether its an anomaly or not it will make it easier to get to 3 . I dont want to overplay the anomaly. There is more going on here. Soybeans are selling. We all under estimating because peoples mentallies have changed. It could be rational. Maybe their are optimistic now. They are buying the make America Great again. There is no changeable policy. If they believe it. Optimism is up. They are happy about their prospects its better than it was. Even though the company has more tax cuts. Hes a good salesman. No president hiked the economy like this. Corporations did do well under obama. Wage growth is an issue. Thats not something that turned around because of President Trump. We have an extra trillion because of the policies. There are outstanding issues that used to matter to republicans. Paul ryan used to be the deficit king. Now, you know, its sunshine and butterflies. Dammed if he does and dammed if he doesnt. To me, people should be honest about their priorities. The deficit will matter and Entitlement Reform will matter. As a liberal does it worry you hes presiding over an economy thats picking up steam. No, its a great thing for americans. Are you worried . Yeah. See how easy that was. It wasnt that easy. Well have more on this. I want to get the fallout from an Hillary Clinton strategist. The leadership from the,party is that this isnt really happening. A lot of people are seeing it and acting on it. In the poll which im a codirector of. We see 70 before the announcement see we have a strong economy. Trump has a 55 approval on the economy but only a 41 approval personally. A little bit below what he would need to keep democrats from taking the house. Lets explore that. In 2014, the last midterm election. The economy was doing well. Unemployment was cut dramatically down. We were closing in on 5 . A breakdown of major headlines impacting business and politics features a rotating panel of industry experts. Controls. I think one of the biggest advantages democrats have going into this is the republicans jumped ship thinking they were on the titanic. They have a leader that quit. He doesnt seem to support the economic policy. They have a completely mixed massage. The democrats biggest problem is the election of socialist. They produce numbers on unemployment, food stamps, and social programs that are remarkable. Dont forget what happened from 96 to 98. Unexpected growth closed the deficit that not a single economist predicted. The Internet Boom and all of the revenue that came with that. Thank you very much. Thank you. We talked about the media. Protestors shutting down ice. This softspoken guy told a
story about how policies helped him get back in life and his family too. Who connected and why after this. When my hot water heater failed, she was pregnant, inlaws were coming, a little bit of water, it really it rocked our world. I had no idea the amount of damage that water could do. We called usaa. And they greeted me as they always do. Sergeant baker, how are you . They were on it. It was unbelievable. Having insurance is something everyone needs, but having usaa now thats a privilege. Were the bakers and were usaa members for life. Usaa. Get your insurance quote today. Essential for the cactus, but maybe not for people with rheumatoid arthritis. Because there are options. Like an unjection™. Xeljanz xr. A oncedaily pill for adults with moderate to severe ra for whom methotrexate did not work well enough. Xeljanz xr can reduce pain, swelling and further joint damage, even without methotrexate. Xeljanz xr can lower your ability to fight infections,
including tuberculosis. Serious, sometimes fatal infections, lymphoma and other cancers have happened. Dont start xeljanz xr if you have an infection. Tears in the stomach or intestines, low Blood Cell Counts and higher liver tests and cholesterol levels have happened. Your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. Tell you doctor if you were in a region where fungal infections are common and if you have had tb, hepatitis b or c, or are prone to infections. Needles. Fine for some things. But for you, one pill a day may provide symptom relief. Ask your doctor about xeljanz xr. An unjection™. Exbetter experience graduating from a community college. You got married and started are family. The president was compelled by What You Lad T had to say. I believe so. You said in this environment you benefited. Is that what you were trying to get across . Yes, basically, i wanted to let them know what i wanted to do. I landed a job with a Great Company and able to startup an apprenticeship to better my life and family. I wanted to congratulate mr. President on that for passing the bill. I like when you had to say college or four year school zone is for everybody. Sometimes there are different strokes for different folks. There is more then just four year degrees out there. You did a great job. You are a real person. Thank you. Best of luck to you and your family. Thank you. Ron somethings going on at schwab. Oh really . Thank you clients . Well jd power did just rank them highest in Investor Satisfaction with full Service Brokerage firms. Again. And online Equity Trades are only 4. 95. I mean you cant have low cost and be full service. Its impossible. Its like having your cake and eating it too. Ask your broker if they offer awardwinning full service and low costs. How am i going to explain this . If you dont like their answer, ask again at schwab. Schwab, a modern approach to wealth management. It gives you super fast speeds for all your devices, provides the most Wifi Coverage for your home, and lets you control your network with the xfi app. Its the ultimate wifi experience. Xfinity xfi, simple, easy, awesome. All right, facebook, Mark Zuckerberg is not a fan of this. His stocks dropped this week. Twitter also slumped because of the number of users not piling on. Ei have gary and lindsey bell. It seems like a trend. You are seeing users spend less time. They are not giving up altogether. This is a trend that has started. Instagram is doing great. Microsoft said they had the best quarter. This is something they have to work through. I thought instagram would protect them. It was the deal of the century. We dont know how much business they were allowing that was fake. Not just the russians buying ads. Completely fake accounts. Why didnt they deal with this
years ago. You think that is what happened . I was amazed this hit them earlier. Brand name is headed south and worriness is headed north. Thats not good for these companies you pay nothing to be apart of. This is beyond beyond at this point and time. We hit a peak for all of them. Not instagram but the whole. I would be careful. As far as it effecting other technology. Intel was hit this week. Im watching peak earnings. If it breaks that wont be good for the markets. Are you hearing the Break Analysis . What i am hearing is tech stocks are price for profection. It was the forecasting. When you have them priced for perfection then you have this dramatic reaction. Im with you on the instagram thing. Facebook was so smart to buy instagram when they did. It would be worth 100 billion now. Its not helping. I mean, they havent begun to monetize instagram. I would also point out, look at Snap Chats Earnings last quarter that ended in may. Their stock went down 20 . Outlook was horrible. The stock came all the way back up. Where else will you find growth. You look at the stocks. There is a possibility in tech. What was amazing was the stock doped but they had revenue. That didnt happen in 2000. Those companies were falling apart. The point here is that the concept of how they are growing is revenue is under question. Is it just facebook the way they grow revenue at this rate facebook said, okay, well still grow but it wont be in
the 30 perceptage instead of 400 percentage. All of the stocks are over owned, over loved, and over leveraged. The stock knocked down all of the points. All of these people who want to sella peace. They are going lower you go from a high price to not so high price. It has to slowdown. This is what apple deals with. You only sold 80 million phones and they punished the stocks is that justified. Are the apples and amazons and microsoft are the real trendsetters. There are different pockets
that will show more growth. Cloud has been phenomenal. You have a. I. And different areas to focus on. Artificial intelligence. These Companies Need to buy. The he said money is gone. Based on what they have now. Those Technology Companies that are able to move with the time. Microsoft is a Cloud Company now. They got the job with the new ceo. Amazon, with all of their new products, alexa will be monster monster going forward. If investors come to you and say i still believe in technology and its the future and put money on funds. That group, would you tell them go ahead. Its over blown because they are launching ets which is just social media ets. They way waited under the end. Apple never indulged. Social Media Companies are driving the growth. A lot of technology fund. I wouldnt buy a fund i would be stock specific. With social media i would let the dust settle. The greatest winners will be in technology. The timing is off. There will be some monstrous new applications ten years from know that will go up just like weve seen in every decade. Can you share those names during did break. Yeah, there is some kid
watching right now. The president firing Micheal Cohen after the release of the tapes and phone calls. What happened with this relationship. Thats what i want to know. What happened. I feel your pain. With Proskin Technology for two times faster absorption so you can have worry free nights, and wake up feeling fresh and free for a free sample visit tena. Us lets get the latest on what the charges are on the president. Good morning, neil. President trumps long time lawyer said his Boss Green Lighted the meeting thats a future in the mueller probe. It took place on june 8th. It including Paul Manaford and
jared kushner. The president s son long insisted his father had no knowledge of the meeting. It was such a nothing. There was nothing to tell. The president offered his confirmation of that yesterday via tweet. I didnt know of the meeting with my son donald jr. Someone is trying to Makeup Stories to get him out of an unrelated jam. This is after he leaked a attack about hush money they paid to a playboy model. Now the inner circle are painting an unflattering picture of cohen. Rudy giuliani said cohen is lying. I think its a big deal. Micheal cohen represents a legal threat to the president. You know, there is one area. We have one key person we tell
all of our life stories too. In the president s case he was his fixer for many years. Meameanwhile Paul Manafords trial will start in a few days. Witnesses there will also be asked about the meeting. Thank you very much. The fallout is at a time when people are trying to understand. Lets say the president did know about the meeting. Does that mean anything . Democratic strategy ann and mercedes. You are a lawyer. Yep. Is there anything wrong with the president having to reverse himself and say i did know. Outside of misrepresent senting to the press. There is nothing under oath. He hasnt come forward and said
i had nothing to do with the meeting. He tweeted it again. There is nothing under oath. If he does turn around and says by the way, i recalled and i did know something about the meeting. It wasnt clear. Someone told me about the meeting. Its fine. There is nothing under oath. It wouldnt matter what was discussed on the meeting. Ive told there is a good book. He doesnt buy all of this. He was telling me that it doesnt automatically mean collusion any way. Am i getting in the weeding of something we dont know happened. Of. Im not a political operative. The russians did nothing to hide the meeting. There was nothing covert about the meeting. They had it at trump power on
fifth avenue. Television cameras during the campaign. Its interesting from me you wouldnt know who those people were. No, but if you were going to have a huge conspiracy it would be a clandestine meeting. This is something that would have been open. What if the president knew about it . He said he hasnt. I have no reason to not believe him. We have Micheal Cohens word against the president. He has publicly defended don jr. If you could pipe down. [ laughtedown. [laughter]. International, im not a lawyer and wont pretent to be one on tv today. If this is true this will be
another page in a catalog of lies by this president on the issue as it relates to russia and every other thing he tends to liability since hes taken office. Whether its stormy daniels. You if you cant trust him on one thing how can you trust him on another. You can say that about bill clinton. Well, a lot of people dont trust him. Do you think you are being fair . Say he did know about it the next leap is collusion. If he did know about it thats where the important work of the Special Prosecutor is doing. Thats why the pressure needs to
be relieved. This is all a witch hunt. We cant deny that russian did be thmesswith the election. Its important for republicans to take a deep breathe. And democrats too. Yeah, well, he hasnt. Well, from a Policy Prospective. A few days ago sec ta ago secreo said well continue the sanctions against russia. We are also aiding with military weapons to the ukraine something many pushed the Obama Administration to do. I understand what you are saying but from a Policy Prospective these are tough policy actions. What we do know for a fact based on the intelligence
committee is russia is playing in our elections again. The president o