Committee, oversight, intelligence and Foreign Affairs have given the white house until october 18 to provide documents related to their impeachment inquiry and in a letter to acting white house chief of staff mick mulvaney, the Top Democrats warned, failure or refusal to comply with the subpoena shall constitute evidence of obstruction of the houses impeachment inquiry and may be used as an adverse inference against you and the president. On friday, those same committees also requested documents from Vice President mike pence regarding reports he was involved in efforts to pressure ukraine to investigate the biden s. On friday, those committees, they sent that request and they gave him until just middle of this month, to provide those, and house democrats, they are continuing to warn the white house about refusing to cooperate with their impeachment inquiries. We dont want, you know, to have mob justice or a rush to an outcome here, and we want to give them a fair process but that also means that the president when we ask for documents has to turn them over, and if he is not willing to do that, then we should consider putting his refusal to do that in the bucket of obstruction of congress, and categorizing that as a consciousness of guilt. However the president s gop allies in congressman are refusing to cooperate with the democrats commands is exactly what the white house should do. What im hearing the right move here and when something that the administration seriously is considering doing is forcing the house to take a vote. We should have a vote in the house, if they want to have an impeachment inquiry i dont believe that we should have an impeachment inquiry but if they want to have one there should be a vote. Adding to all of this on friday, secretary of state mike pompeo missed the deadline to comply with the subpoena for documents related to his departments dealings with ukraine, and President Trumps personal attorney, Rudy Guiliani , so fox news is told the state department is in touch with the committees. Neil . Neil garrett, thank you very much my friend and now to the white house and what the president company are saying about all of this, ellison barber is there. Reporter neil, President Trump continues to say that he believes he is being treated unfairly here, and he continues to deny allegations of in propriety. President trump no, no, no, let me tell you. Im only interested in corruption. I dont care about politics. I dont care about bidens politics. I never thought biden was going to win. This is about corruption, and this is not about politics. This is about corruption. Reporter the impeachment inquiry directly reached the white house yesterday evening, when those three Democratic Committee chairman subpoenaed for documents related to communications between President Trump and the president of the ukraine, the chairman says President Trump forced their hand here after ignoring a september 9 request for document s. Sources tell fox news the president is set to send a letter to House Speaker nancy pelosi on monday, telling her the white house will not hand over any documents until a full house vote is held on impeachment. Neil . Neil ellison thank you very much. All right, well House Speaker nancy pelosi says that a full house vote is really not required to proceed with an impeachment inquiry. Republican House Judiciary Committee member debbie leskow here, i think you disagree with that congresswoman is that correct . I would disagree. Its not technically, its not in the law anywhere that you have to do it, but the last two times with president clinton and president nixon, they did a full house vote and they set certain procedures of how it was going to go and there was due process, so that their president s counselors at both times could crossexamine witnesses, sit in on these hearings, and have witness lists. None of that is happening here. This is a total partisan hit job , total unacceptable, i hope the American People see it for what it is. This is so partisan, its been happening for years now, and ever since the president was elected they have been trying to kick him out and they will do anything. I am convinced, the democrats will do anything to get back in power. Neil given that it ever came to a vote that the democrats would have the 218 needed to impeach . You know, i dont know. I know that it certainly is not politically a good thing for them, and thats why im sure pelosi is not doing it. She is giving no standard due process to this procedure at all , and thats why it is so partisan, so unfair, but they should put it up on the board. Put their money where their mouth is, because then, all of their democrats that won in trump districts will be on record and i dare her to do it, and shes not doing it, because she knows that its politically bad for some of her members and its not fair to the president. Neil but when you hear the president though and it might be something you say but when you hear the president saying what he says and even publicly urging china to look into joe biden, and corruption, all of that, is that wise for president , leaving aside whether its impeachable or a high crime misdemeanor . Is it wise . You know i dont know why he said that. I did see a video of marco rubio saying the president is just trying to play with the media, and maybe thats so. I really dont know. I do think that it is fair game that we talk about who interfer ed in the 2016 elections , and what source did that come from . Two years, the president had to put up with what . 2,800 subpoenas, a whole bunch of fbi officers checking into him. I mean, you know how adam schiff said for two years, he had evidence that the president colluded with russia . Turned out to be not true, and then he makes up this, you know, conversation between the president and the ukraine yankees president , totally made up, and then they released just some of ambassador voelkers Text Messages just the ones that will hurt the president and thats why we needed the whole transcript released. I mean, they are playing so unfair, so unfair to the president , its just unconscionable. Neil so when you see the focus on adam schiff is the face of the impeachment inquiry rather than the chairman of your committee, jerry nadler that is the Judiciary Committee, what did you think of that . It does break form in that regard. I have no idea what pelosi is doing on that, because the Judiciary Committee is the committee that has traditionally done impeachment proceedings, so but theyre not playing by any precedence, any fair rules, anything like that. They are full speed ahead, trying to take out the president of the United States because they didnt like that the public elected him in 2016. This has been going on ever since he got elected, and i am convinced just because im on the ground. I have boots on the ground, that they will do anything, say anything, to get back in power. Neil all right but in the meantime we got reports in the New York Times and elsewhere that they have a second whistleblower could be coming, more signs that the administration might have tried to obstruct getting this out there, even though the president is talking about i did provide a transcript of that conversation with the ukraine leader but that is a dripdrip nature to this and thats why to support for impeachment, oddly enough, is building up a little bit. Do you worry that where theres smoke there could be fire for republicans and in particular the president . All i know is from what i have seen, there is nothing impeachable and that there has been a pattern, by my democratic colleagues, a coordinated pattern, to continue to try to undermine the president. Whether it be a Judiciary Committee with this whole Robert Mueller and collusion and obstruction of justice and all of the type of things that have been proven false, or whether its bringing in witnesses to try to undermine the administrations actions on lets say border security, or Law Enforcement or anything, this is full court press by the democrats. Its a total political witch hunt. I agree with the president , its totally unfair to him, and well see what happens. Neil all right, because right now, republicans are pretty much in lockstep is with what you said, congresswoman but not everybody. Mitt romney says that it stretch es the bounds, im paraphrasing here, that this wasnt a focus on joe biden, and would not have been the case if it were not joe biden, they were talking about, because biden stood and might still stand the best chance of getting the democratic nomination, if that were not the case then it looked like he was sort of finished goods, the president wouldnt be doing any of this. What do you think of that . Well, i disagree with mitt romney. I just disagree with him. I mean, first of all, joe biden wasnt doing very good in any of the debates. He fumbled a lot. He said a lot of bad things. I think the President Trump could have beat him no matter what, so it doesnt make sense for the president of the United States to go after him when he was already a weak candidate. Neil all right, so youre not buying that. Congresswoman very good having you thank you very much. Im not. Thank you. Neil in the meantime, could an Unemployment Rate not seen since the moon landing help land President Trump more and more years in the oval office . One small step for man, one giant leap for mankind. Wow, what a beautiful wedding as your second cousin and number one broker. Youre welcome. Remember, carl, we havent been investing with you for a while. Hmmm . Because schwab makes planning for things like this easier. Yeah, with schwab we get automated investing and integrated planning help. For a low Monthly Subscription price. Why would schwab do that . They help you plan for the things that matter. Subscription pricing. Schwab introducing subscription pricing with oneonone guidance. Schwab intelligent portfolios premium, a modern approach to wealth management. President trump the unemployment numbers just came out, and theyre the best number s weve had in over 50 years. The unemployment number is down to 3. 5 , so that goes way way back. Neil indeed, way, way back. I mean a lot back, all the way back to when Neil Armstrong land ed on the moon in 1969 the last time the Unemployment Rate has been this low so is the economy now prepared for a lift off just when people thought we were falling apart . Fox Business Network has been looking at the numbers and they are pretty impressive. Reporter good morning to you, neil, thats right. Not since Neil Armstrong such significant video have we seen unemployment this low. 50 year low to be precise, the Unemployment Rate falling to 3. 5 . The u. S. Economy added 136,000 jobs in september, and an average Hourly Earnings they grew 2. 9 according to the Labor Department and then there was a little lower than expected but its also believed that its going to be revised up next month. Now, healthcare, transportation, Business Service sector, they added jobs, but manufactures, they cut jobs last month. Stock market it liked the number because it shows that the engine is still running and it wasnt so good that it would deter the fed from a rate cut at the end of the month so kind of the perfect scenario, for investors. Meantime with all of the recession talk, the data, its not conclusive. Manufacturing and services, they slowed, but there is still signs that the consumer is healthy. Thats important, because Consumer Spending accounts for twothirds of economic activity. According to the National Retail federation, holiday sales they could jump 4. 2 to 730 billion. That is higher than last year. Then we saw increased sales from costco and apple. Household names that give you a beat on the consumers mind set. Costco revenues jumped 22 in the last quarter, apple increasing its iphone 11 by 10 because of such Strong Demand so the markets are bracing for earnings season in full swing they want to hear how companies are fairing amidst the trade war and how theyre going to guide wall street providing some insight into what they think is going to happen when we head into the holidays, neil . Neil jackie thank you very very much in the meantime despite everything over the economy and uncertainty over impeachment, jackie pointed out wall street enjoyed a fine end to the week performance, still it was the third down week in a row even with that better than 340 point gain, so what are the markets telling us . Lets ask some market brains, and weve got Gary Kaltbaum and jonas max ferris. When you look at this, francis the employment report was really the savings of the week everyone is getting worried theres contraction going on in the factory sector, services are slowing down, we got a problem, and then boom. What do you think . Well the thing is that we do have deceleration and growth and then we have questions around inflation and those things will determine when the Business Cycle rolls over, right . So we are pretty late cycle in the fact that weve had a record bull run and so how much longer does it have to go remains to be seen but we do see some deceleration and thats going to hopefully trump gets a china trade deal and now hes under pressure to review that and hopefully the fed eases, and however neil well the expectations is they are going to do that. Later this month, they meet again, and up until this week, fewer than 4 10 thought we would see a rate cut. Now, its almost up to 9 10. Well its 100 guarantee they are going to but the markets already done the job. The ten year is already down 1. 5 and thats what matters most. Most important thing for me and im kind of where i think a lot of the areas of the earth are already contracting, asia same thing. Were holding up pretty darn well compared to the rest and i just keep my fingers crossed that continues. Were just getting, if i only looked at the bond market id think that we have, we would be in a depression right now but i think were growing probably in the mid to high 1s which is not great, but neil better than a minus. Better than what were seeing across the globe and ill tell you what the economy has been able to do every time weve had a little bit of a drop its re accelerated again, so thats what im hoping for. Im not sure just yet. I need to see more and of course , the Holiday Season will tell us everything. Neil you know whats interesting about it, jonas is that that is true, that every time we had a fall off, people have pounced in and bought on these debts, have where you buy on the dips and i dont know how long it holds true but for the better part of 11 years its held true. Its when the doesnt work that there is a problem. Neil shhhhh. All of the economic numbers that would get you reelected look good. The ones that predict recessions are scaring investors to be honest. And the bond yields for one, the manufacturing, ive got to tell you was a lot stronger during the moon landing and that concern is that neil we only had a 5 inflation rate . Inflation was unbelievable. We beat it. But manufacturing is a small part of the economy than it was during the moon landing, so that in itself, what scares me actually is not the manufacturing, is a little weak. Its the perceived excess, because thats really whats driving our economy, could lead to all of the investors questioning how much money they are putting into these companies seeing that its all going into tequilla bottles, office spas and gulfstream. That stepback of money could lead to the economy slowing down , and ending this recession more so than a manufacturing job neil some of those, if you think about it, have been the ones that have been torn apart, right . So im wondering if thats the case, is that a bad sign, for the markets, remember the economy, whether youre talking peleton or smile direct, you know, two new offerings 1999, remember all of the ip os that came out in 1999 right before as jonas says the tech bubble burst but the other thing thats interesting is they are increasingly lower volumes buying these dips so the fear even though the market does not make a new low and the vix index or measurement of fear did not make a new high in last weeks selloff, shortterm, its looking like the markets are holding but longer term we have these larger issues with the reconciliation point. Neil maybe to joanass point we kick it and always say this time that every single time, we pounce on them and ignore them. Well its not if theres a recession its when, because the Business Cycle is the Business Cycle is the Business Cycle. Ive been saying that for five years. [laughter] neil i guess not. Yeah, and you bring up this we work and all of this stuff. I actually think that its good news because the investment banker neil we earned a lot more. The Investment Bankers did their usual they end they came out with ridiculous valuations on money losing companies and i think were getting back to the realworld where a public is not going to get screwed. I think we work, you know, i wonder if thats around in a couple of years. I just think its good to see because you cant keep bringing out companies at 20 billion valuations that lose 1 billion a year, so i actually think neil but they have to make money contrary to the period in 99 and early 2000 where anything that was then. I think its good news for the market w