tv Cavuto Coast to Coast FOX Business February 14, 2019 12:00pm-2:00pm EST
authorities go offering tax breaks or incentives to major corporations? can they do it in the future? or will you have an amazon on your hands? david asman in for newell cavuto >> welcome to "cavuto: coast to coast." i'm david asman in for neil cavuto. the top story, amazon is not building hq2 in new york after a lot of opposition, from the politicians, not from the people. rose cliff capital founder mike murphy, deirdre bolton joining me here now. deirdre. neil: first to you, we had a new poll showing most new yorkers want this to happen. polls from long island where the headquarters would be built saying they wanted it to happen. the politicians are going against the people and
politicians won and the people lost. >> this is huge loss for new york city. put politics aside and bill de blasio. i was speaking with local assemblymen as well. they feel like the people have spoken. one they're saying amazon doesn't need subsidies from anywhere. it is an extremely profitable company. the ceo and founder is certainly richest man in the united states. top three in the world we have to assume. $140 billion worth. they say local businesses don't get any subsidies from the state or the government. i think more to the point, this is the point that i really began to understand their point of view on, google, for example, we're talking about building a one billion dollar campus here in new york city, spending $13 billion overall in 14 different cities around the u.s., not asking for subsidies from anyone
people of long island city wanted this. the people of new york state wanted this. there is multiplier effect. it is not only jobs amazon planning on being here. job, everything from soda fountains to dry cleaners. all those jobs are not going to happen now? >> absolutely. david, i grew up about four new york city blocks away from the proposed amazon headquarters in long island city. i know the area really well. anyone against amazon coming there is not looking at big picture. amazon does not need new york city, they will find a home somewhere else. long island city, across the east river from manhattan, could have used amazon, would be good
for all the people and businesses there. this is a big loss for new york city. david: people wanted it. the politicians are going against the people's wishes. that can't happen long in democracy. gerri willis you're following the story as well from the market perspective and people perspective. >> yeah. david: virginia and nashville, by the way, no tears for new york. they are welcome to amazon with open arms. not like they don't have a home. >> looking on twitter see if i find something from the governor of tennessee, mayor of nashville, nothing yet on twitter. here is what the company is saying back in new york, thawing governor cuomo and de blasio for their efforts. we're not building the headquarters in long island city. for amazon to build a new headquarters needs corroborative and collaborative relationships over long term.
they add, while polls show, to your point, david, while polls show in amazon's voice here, that 70% of new yorkers support our plans and investment, a number of state and local politicians made it clear that they opposed our presence and will not work with us to build the type of relationships that are required to go forward with the project. so that in its essence is the rational and reasoning here. 25,000 jobs for long island city. average pay of $150,000. now the state giving some $3 billion in subsidies to amazon, to get this investment. expected to yield revenues of over 25 years of $27 billion. step back, look at that. investment of 3 billion, market impact of 27 billion. i got to tell you, it is going to be interesting to see what fallout from this one is. david: sure is. deirdre, the fact is last week, governor cuomo finally realizing
how important wealthy people and big corporations were for the economy of new york. he said we need these rich people because they have been leaving new york because of high taxes. what is going to happen? they will have a lot less revenue to deal with even though their expenses are climbing. >> that is exactly the point i wanted to make. one of the spicier twitter comments i'm getting from an analyst, congratulations to the lunatic fringe for chasing out a viable business out of long island city, and a place that would have generated a lot of tax revenue for the city and also helped local businesses grow, such as restaurants. he goes on to name them, another whole list. not just restaurants. we get the idea. the ecosystem would have been supported. david: mike murphy, we have a situation in manhattan now, new york is bigger than just new york city itself. but services are falling apart. even though their spending has increased by 30%. we have a mayor of new york is increasing spending by 30%, more
than any other mayor in the history of new york. so their expenses of new york are brogue but there will be fewer people paying the bill? >> absolutely. as a new york city resident myself right now, i think people are starting to get fed up with it, david. we no longer need to live here. similar to what amazon said, if the politicians don't want us here, don't want to work with us, while take our business elsewhere. i think a lot of new york city residents will say the exact same thing. you can keep increasing our taxes, keep reducing the services we're getting. if you cross a certain line for some people, we'll go where people want us. seeing that in statistics of people leaving new york. david: i want to bring in "axios" reporter steph knight from d.c. we have this situation multiplied about a dozen times all over the country. whether chicago, illinois, where a lot of wealthy individuals and companies leaving or california
happening more and more. it has got to be more business-friendly attitude on part of some high-taxed states. other wise they will lose everybody. >> certainly seems to be a real turning point for companies that traditionally gotten huge tax incentives for bringing jobs to an area, like we saw with foxconn in wisconsin where they seemed to go back on their promises. there was major retaliation from the public. we're seeing with amazon, dealing with the nationwide tech backlash an increasingly progressive politics in new york. despite cuomo's support of amazon coming to new york, we're seeing them having to leave. i think this is a trend as we pointed out. we're seeing it in other places and we'll have to see how this pans out. are people increasingly being distrustful of the big tech companies? or will they end up seeing there could be economic benefits to welcoming jobs from companies
like amazon? >> i do want to underline this point again though. google is spending a billion dollars to build another campus here in new york city. 13 to $14 billion in various cities, between 12 and 14 across the u.s. there is proof that a tech company can invest in an area. quite simply pick where they want their offices, build, without running a two-year circus. there is a lot of bad backlash prwise against amazon as well. many smaller cities were encouraged to humiliate themselves trying out for the hq2 when amazon picked up the two areas they wanted to be in anyway which at the time was new york and northern virginia. david: mike, you look at seattle washington, you talk to the people in seattle, all the business leaders in seattle appreciated what amazon has done. even though they got tremendous benefits. all kinds of benefits were given to the amazon from the city of
seattle but it encouraged the kind of business activity that created enormous wealth for that city. it changed dramatically. a lot of people have been priced out of their homes, a lot of renters in particular. that is tough. the multiplying effect of jobs that amazon created there, have been a boon for that city? >> i think that is unquestionable, david. so you look, there are some cities across this country who would give almost anything to have an amazon-type business in their local area because of the residual impact. it is not just in the direct numbers that you can cite. it is in the offshoots, the other things that are out there. so seattle is a great example for a city that has had a real resurgence. there will be a lot of other ones out there. i bet where amazon picks for the second headquarters, you will see a massive boom in the local economy. politicians need to realize amazon is a massive success, that is something you want. as a local politician you want
successful companies in your area to help out the entire ecosystem. david: excuse me, it is stef kight not knight. david: i'm sorry i mispronounced your name. where republicans standing up for capitalism, democrats denigrating it in many ways, unfairness defines the system more than anything else. in fact a lot of americans, in fact we have a "fox news poll," showing americans believe capitalism is the best way to achieve fairness in an economy. when you see situations like this, amazon will go elsewhere, whether nashville or some other place in virginia, doesn't this kind of emphasize the point that the democrats are on the wrong track? >> there is certainly, this is certainly a growing trend within the democratic party where we're seeing these young, progressive representatives and senators really stand up to the idea of big business. they're really seeing this trend among many progressive people in
the u.s. among many young people there is growing distrust of big companies, big tech companies. there is concerns for privacy. when we, when we see issues that we've seen facebook and other companies. we're seeing democrat leaders ping on and endorse. people like aoc and others. we do have a capitalist country. we have president trump, who is advocating for capitalist policies. the economy in a good place right now. i think we'll have to see how this battles out where this ends up going. we'll see how it impacts the community. david: you don't have to like donald trump or amazon settling in your own community. unfortunately people in new york decided they want amazon there, will not get what they want because the politicians have essentially driven amazon out. the news is amazon will not be building their hq2, their
headquarters two in new york as a result of the resistance from a lot of radical politicians in the new york area who according to polls went against the people, drove amazon out. more from breaking news from amazon, we're learning more about people moving out from high-taxed states in general. all the latest from bulls and bears, on fbn, 5:00 p.m. eastern time. we'll be right back. comcast business built the nation's largest gig-speed network. then went beyond.
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this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. david: big news at the moment. amazon pulling out of plans for a new york headquarters as we're learning people are leaving high-taxed states like new york and moving to states like texas and florida where there is no income tax. to financial issues stewardship
ministries, inc., ceo dan celio. good to see you. what do you make of the amazon news? >> it is sad for new york, obviously, amazon moving out of hostile territory, basically is what they're doing. and look, look, new york has brought this upon themselves along with some of their representatives and so on. look, this will be the trend. we'll continue to see this trend throughout the country. you know, we can't continue to bash and deincentivize corporations like this, because they're rich and they're making money and they're providing jobs and they're paying a lot of taxes, but they want more, more, more and more. and i think we're going to see more all right, we'll see more of these companies that are just going to say, look, i'm not going to do this. i don't think you will see a max
exodus out of the country like some are expecting but i don't know why they wouldn't go to florida, why they wouldn't go to texas. david: they don't have to leave the country. they can go to states that don't have income tax like texas and florida. florida doesn't, i believe texas as well, don't have estate taxes either. >> that's correct. david: there was kind of a wakeup moment for governor cuomo last week, when he talked about how we need rich people, those are his words, not mine, we need rich people to pay the taxes. as he pointed out, the top 20% pay something like 60% of all the income taxes in the state of new york gets. so he knows he realizes that he is having budget problems. he realizes that if more rich people, there will be a lot of rich people who won't be here because of amazon not building a headquarters here, that means less revenue, that means they're in a real fiscal bind. >> i heard him say that, wow, is he getting clobbered right about
now. he does realize that and he is trying to do some damage control because i think he saw this deal going sour, and, look, he knows it. smart enough to realize that. he understands, probably more than anybody in the state, that we've got to have this tax revenue. and it is not coming from anybody else. it is coming from the rich people, just like the top 1%, paying taxes here in the country. and, to discourage, to discourage what comes along, with some of the people that the populists there, seems to just disagree with everything that they stand for, everything that they are, is lunacy. david: yeah. >> this is what we're going to get from it. it is going to hurt the city. it is going to hurt employment. david: you're looking at protests, don't know if you can put that back up on the screen, split screen of protests in
new york city, again the people that shout the loudest have tendency to be heard by the politicians but they're not representative, if you believe the polls, what the people, the people, what the people in this democracy, in the state of new york really want. they want amazon. they wanted amazon to move in. that is what all the local community, where it was going to be built, long island city, to the larger city community, to the state itself, all of the polls showed the people wanted it, despite what the protesters were saying. i'm wondering won't this come at election time, to bite these politicians who went along with those who shouted the loudest? >> you know what, david? i hate to say it, but there, i don't think it will come back to haunt them. i think it will be a wonderful example of this ideology, that other politicians, republicans can use, as they campaign, come election cycle, but those folks,
there i don't think it will matter to them. i think the voting base in that particular district are probably going to still stay with the reps, probably not going to reflect on them at all. it is sad for the rest of the state, sad for the majority of the people what they feel, unfortunately what matters with local politicians, who are holding and, pulling a lot of these strings, it will not matter anything. i suspect they will probably get reelected. david: it will matter when new york goes bankrupt. new york went through a period where it came within a hair's breath of going bankrupt in the '70s, because they had spend, spend, policies, tax higher, all businesses left new york. amazon, that might be the tip of
the iceberg. appreciate it. >> great to see you, david. david: fox polling shows half of voters disapprove of socialism, clearly, nearly four out of five. this is key. four out of five voters feel their family achieved the american dream or it is on its way to achieving the american dream. 32 advisors ceo, former member of obama's economic advisory board, robert wolf, whether this push from the left by democrats will pay off. robert, before we go to the polls, what do you think of amazon? >> i'm disappointed. i think it would have been good for the city, good for the state. i understand the whole argument of you know, why people are yelling about corporate welfare, but they only get those tax credits if they hit certain hurdles. it was not a free lunch like everyone talking abought it. but it's a real debate. companies like google didn't get the tax credits.
my opinion the city loses. 25,000 high paying jobs and to keep the city vibrant we have to always get the best companies. david: to broaden it out, it is not just new york, new york city or new york state, illinois is going through a similar thing. they have a governor there, billionaire, liberal billionaire, governor pritzker raised the wealth tax. they're getting less revenue from that. driving businesses and driving wealthy people out of your state is not too good for the bottom line. >> listen, when i was running ubs we took tax credits when we went into stanford. we had to hit certain hurdles and number of employees, certain number of revenues. getting businesses to come into a city is a good thing. david: this fox poll was really extraordinary on many, many different levels. i mentioned the american stream, the opinion of capitalism, people denigrating capitalism from your party, the democrat party. >> yeah. david: even among democrats, 47% of the democrats have a favorable opinion of capitalism.
only 3% -- 38% unfavorable. republicans 72% against 17% against it. overall feeling when you get reading this poll, the vast majority of americans feel capitalism is a good thing and socialism is not. but your party is going in the opposite direction. >> i'm not sure our party is going in the opposite direction. the idea of tagging democrats as socialists is a great political tag line. that is like me tagging, republicans are just tea party conservatives. i don't think -- david: wouldn't you say the green plan, the green new plan has a lot of socialist elements to it? in fact guarantying a job for those unwilling to work? that kind of talk, if you look at the green plan, it has a lot of socialist components to it and kamala harris, liz warren, kristin gillibrand, have
endorsed it. >> as you know i'm not on the popular left. but preg aggressive issues, climate change, health care is right, gun control. that is where rest of the country is. there is no debate clean energy is positive or not. david: it is more than clean energy, talking about changing our whole economic environment. >> with respect to the green new deal, it's a bold plan, okay. that is not going to get instituted. but it causes the entire debate to say where shall we begin? i remember a few years back we had a whole argument about dig one. should we dig all the fiber in the ground? there is 190,000 miles of highway. they say no, no, it is too bold. you know what we do, dig twice, we dig them up and dig them up again to plant fiber. i don't mind people doing bold deals. up to the congress. david: it has been endorsed by most of the democratic contenders in for president. that will be a problem.
>> some people say those contenders don't have to the endorse the deal but can endorse the prince little of climate change. that green renewable as well. david: there is a lot more than climate change in the new deal. >> i'm not saying i think we agree with even of those points. we should look at infrastructure and have the best energy in the system. solar and wind is lot cheaper than oil. david: great to see you, robert. >> i'm a new fox contributor too. david: congratulations, i love it. shoppers set to get steep price hikes, new signs of a consumer spending slowdown. what should we be most worried about? ♪ i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly.
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white house. lawmakers voting on the spending bill today, but a source to fbn, saying trump hasn't made up his mind whether or not he will sign it. fox news senior capitol hill producer chad pergram. chad, this is a big bill. this is 1159 pages. i know time is of the essence. they have got to sign this thing or the president has to sign this thing to prevent another shutdown. on the other hand we've got to read it, lord knows they know how to stuff it with all kinds of goodies, right. >> right. this is not just a bill for border security, this is not just a funding bill for the department of homeland security, a seven bill package, a minibus on capitol hill, but not omnibus. doesn't include all 12 spending bills. they hope to avoid the government shutdown by this weekend. as you say the president of the united states is not just reviewing but dozens and dozens of lawmakers on both sides of the capitol are doing the same.
senator john kennedy said quote, we're not quite ready to hum, one shining moment yet. there is a lot to go through here. as i was told they don't think the senate will move on this until probably evening. there was a chance they thought maybe 3:00, 4:00. we're hearing sometime after 6:00 tonight. the reason is that the members just need time to go through and sort through this bill and establish their positions. if they move it through the senate, sometime through the house of representatives later tonight, david. david: there were all kinds of things that do make their way into these bills, that get unnoticed because of a length of a bill like this, 1100 pages. we remember what happened earlier in the week when we had that bed provision that democrats stuck in, that was kind of a silly thing, clearly kind of a poison pill. has there been any shouts from republicans yet, there is something in there that doesn't belong? >> nothing specific. you will have certainly, the most conservative voices on capitol hill say that you know the president didn't get everything he wanted. they wanted certain answers on
detention beds. as i indicated yesterday, tom graves, republican congressman from georgia, he is a member of the appropriations committee. he is pretty conservative. he would be a pretty good weather vane how the vote might go in the house of representatives. i am told they are more confident in the senate than they are in the house. here is the key, they have to get the math right and have help on the republican side in the house to supplement democratic votes to pass this. david: best guess do you think the president will sign it at end of the week? >> i have been told he will certainly take his time. the government runs out on funding on saturday. there is holiday weekend. he doesn't have to sign it until tuesday. he might set it out over the weekend, to debate whether he signs it or not. at least make people sweat. the house and senate will not pass a continuing resolution, stopgap spending bill. that would torpedo the deal, what that does applies pressure on the president, sign it, take or leave it. david: if he takes until tuesday, at least people have a
chance to read the darn thing. >> i was going to read doysevkyy before i read this thing. david: i think you better read this thing. >> thank you. david: larry kudlow is saying earlier that he is hopeful about a deal, take a look. >> they're soldiering on. i like that story. i will stay with the phrase, the vibe is good but but i can't gie you details. david: edward lawrence on capitol hill. reporter: both sides remain deadlocked on structural issues. china is balking at u.s. proposals protecting intellectual property of companies. before we go further. look at the table, the delegations are using, literally looks like an entire garden between the two sides. may be symbolic of the state. talks although the u.s. remains optimistic. larry kudlow says the negotiating team is pushing the most difficult topics in this round.
>> they're covering all the ground. they are hard at it. they will meet with president xi. so that is a very good sign. reporter: president xi xinping will meet the u.s. delegation tomorrow as president donald trump did when the chinese came to washington to negotiate. the day in beijing started with niceties. the two side shared handshakes and then got down to business. china is talking the talk so far. just listen here to the ministry of commerce spokesperson today. >> translator: china's pace of opening up will not stop. china has a huge domestic market and continues to expand its consumption potential. we believe that regional free trade arrangements with china will not only benefit china but also the relevant economies and the world economy. reporter: but behind closed doors china is pushing back, resisting actually agreeing to those structural changes the u.s. wants so far. back to you, david. david: thank you very much. market reacting today to retail
sales. bond market showing there is no signs of inflation but consumers are seeing hikes from things like prescription drugs and netflix, to kadena group president, fox news contributor, gary b. smith. so, gary, we get these market signals showing no inflation but everybody is complaining about paying more for what they need? >> i think they're complaining but they're doing something about it, david. the cpi is, in my mind it is old school. it measures a basket of goods and measures those prices go up or down. that was fine 40, 50 years ago, when the average consumer has limited opportunities. now just as an example, who goes to a store if you're shopping for a vacuum cleaner, then doesn't say to their spouse, before i buy that, let me go to amazon and see if i can get it cheaper? so we have, thousands of those examples, david, but that's what i think the consumer is doing. they complain about the prices.
who doesn't, but then they do something about it by using, you know, alternate solutions. david: you mentioned amazon. i have to ask you the question of the moment, what do you think about their decision to pull out of new york? >> well, you know, it is kind of like a, you know, new york city is the landlord, if you will and they're responsible for their environment and the whole being of all their tenants and amazon is obviously a private corporation and they have to do what's best for them. i was not in favor, i always thought, we talked about it on "bulls & bears," i thought it was more akin to the money they were offered like cities putting up money for football stadium which comes to fruition but never the economic as a result. on the other side, they say well all corporations get that money. amazon is free to do what they want. i don't think new york city will suffer one iota to be honest. david: tell you the truth, the difference between this and a stayedup. a stadium is not everyday thing. stadiums, don't every day
produce multiplying effects for the local community but an amazon headquarters where everyday people come to work, everyday they will have to shop at a little sandwich shop. every day they will have to use a laundromat, there is a difference here between what amazon was thinking of doing and the bonuses they give to stadiums, right? >> well i agree with you if we were talking youngstown, ohio where there are having real problems. a young person will not move in because of amazon. they will move in because of another job. they're not suffering from lack of ability to draw people. so the incremental benefit of that one extra person from amazon. it will be knee gated by another person. i don't think new york city is any worse off. david: they are suffering from
wealthy people lifing new york. >> but that is another set of problems. david: gary, thank you very much. >> appreciate it. david: new details on mike bloomberg's 2020 plans. charlie gasparino has the breaking news coming next. after months of wearing only a tiger costume, we're finally going on the trip i've been promising. because with expedia, i saved when i added a hotel to our flight. ♪
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anemic disney animation studio, earned more than 400 million in the u.s. and billion dollars worldwide. the movie opens december 22nd, the sequel does. that is nine months from now. one of several high-profile features from the house of the mouse. including the the avengers. netflix, peter length movie, may revolve around aaron paul. he will reprise emmy winning role as a meth cook. first run project rights will then air on amc. "breaking bad" was a breakout success for amc, running five season long. news sent markets lower today, that would be retail sales, december retail sales. the came out lowest in a decade, raising questions about the health of the economy, the health of the consumer. sales down 1.2% in december from
the previous month. that is the biggest drop since 2009. 1.2% drop. economists had forecast a 0.2% gain. stocks led by consumers, non-cyclicals, led the way. back to you. david: gerri, thank you very much. california is proposing to lower their tax, not all taxes, just the tax rate on legal marijuana. to hillary vaughn with more on that. hi, hillary. reporter: hi, david. well california cannabis companies pay nearly half of their product costs just on taxes to legally put their products on the shelf and sell it to consumers. the move to legalize marijuana was expected to bring in anywhere frombillion to $20 billion in tax revenue for the state of california but high regulations, high taxes on the product and a complicated lottery system to get the license to sell legal cannabis is suffocating the legal industry and thriving the black market. legal pot sales for the first six months of 2018 came in over
$100 million less than what the state was expecting. >> any other crop is taxed that much, tomatoes, people would stop eating them, buy black market tomatoes. 40 cents on every dollar in taxes. it is not practical to the average consumer. reporter: state officials hope dropping the state excise tax of 4% would help improve revenue for the newly legal product to convince black market deals to sell legally. cannabis companies say taxes are one small problem stifling industry. it is a major stumbling block growers out of the gray market to sell legally. you need team of lawyers and lobbiests to work through the system in california. there are way too many restrictions where dispensaries where many consumers live over an hour away from the legal product. convincing consumers to drive an hour to pay for 10 times more for a product they can get
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♪ david: could michael bloomberg spend half a billion dollars to take down donald trump? charlie gasparino has all the details on this. >> i want to say, bloomberg was mayor, we'll get into this a minute, amazon would still be in new york. david: we'll talk more about that. first this one. >> from what i understand from people close to bloomberg, it is not just 500 million. he could spend more than that they're talking that up, if he does run, this is someone will spare no expense. we should point out a couple things, bloomberg is incredibly liquid under like the current president, finger in the air and -- david: his billion, this guy is 43 billion in treasury bond. he can do that. david: wow. >> here is the thing. this is some remarks that chris christie made at book party i attended at steve cohen's financeer's house, there was a lot of journalists there,
you heard him go after jared kushner, some of his comments whether bloomberg would run. he doubts bloomberg would run. why he doubts it. he says the far left of the democratic party, particularly running in states like iowa which is very far left. you think it is midwest? the democratic party is far left. new hampshire they hate most things he stands for, big time against school choice. big time against fiscal conservative. lower corporate taxes. of a bill clintonesque type. he might be more right-wing than bill clinton on fiscal issues. he think bloomberg is flirting now because of his age, he is 75. this is probably last time. he is realist. mook bloomberg if anything is realist. he will not waste his time. he will realize he is wasting his time.
david: put it all trying to get rid of donald trump how. >> i don't know. no one knows. i mean i can't imagine that he will support elizabeth warren. can't imagine. so, you know, they would need, if biden emerges as victor i could see bloomberg backing him possibly. david: now, we're going to transition from bloomberg to amazon because there is a connection. >> well the connection is, if comrade bill de blasio was not mayor, and mike bloomberg was mayor, they would have made -- they would have made it very hospitable for jeff bezos, the ceo of amazon to be here. the community groups at that oppose -- david: de blasio put together part of the packages for amazon but that politicians he didn't like. >> he caved to these interest groups, i don't know what they're against, jobs? they're against, maybe more pollution in long island city? who knows. the whole thing, crowded streets in long island city? traffic. i mean maybe that's it. i think bloomberg, just knowing him, he would be impervious to
those -- that is what made him -- david: he would have stuck by amazon where de blasio didn't. >> another thing that the far left hates about bloomberg stop-and-frisk. if you remember, the pressure came on bloomberg on stop-and-frisk. he was saying no. there has been some problems but by and large -- david: those don't know, that is tough policing. the tough policing that led to dramatic drop in crime. first under giuliani. >> the far left said it was racist, targeting african-americans and minorities. he said no, we're targeting crime. ray kelly, continued stop-and-frisk, he would never have folded on this. if you're going to take stuff he took on stop-and-frisk. that is the difference here. it is comrade de blasio being spun around -- david: we have only 30 seconds. as i mentioned before, polls from long island city, poles
from new york city, new york state in general peel were in favor. politicians going against -- >> the activists help elect mayors than ever before. unions, left-wing activists this is sad state of affairs. this is not the city of rudy giuliani, mike bloomberg anymore. it is just not. david: charlie, we'll see you next hour. thank you very much. why a u.s. comptroller general says both parties are to blame for our ballooning debt. tiremen. dealing with today's expenses... while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. the first-of-its-kind lexus ux and ux f sport, with the latest safety system standard, best-in-class turn radius and best-in-class mpg. experience amazing at your lexus dealer. ..
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yorker supported than an investment in state and local politicians have made it clear they have closed our presence and build the type of relationships required to go forward with the project we and many others envisioned in long island city. the company also went on to state it requires positive and collaborative relationships. you have a lot of backlash from local politicians as well as some resident, more specifically about the tax incentives amazon receipt to the tune of about $3 billion. people also concerned about transportation and inflated housing prices. there hasn't been much discussion from the local politicians about the potential tax revenue the area could have received to the tune of over $25 billion up until 2025. billions of dollars in revenue that is now potentially lost.
this is actually non-going story. the "washington post" did mention amazon was considering it last week leaving the area. reuters reporting there's been no land acquisition in the areas makes it easier for them to leave. if it's me or state in a tough spot and new yorkers are leaving the area with all of the assaulted actions. amazon is the biggest blow just yet in this area. it could be a big question as to what is next for businesses that want to enter the area when you have a big tech company and local politician they cannot work together. final word, amazon did say they are moving forward with plans for virginia, nashville and will higher in canada and the united states. david: and then there's this by the way. new york lost may be new jersey's gain. amazon's law should be our gain. we might get amazon in new
jersey. of course the new governor of new jersey's a high taxpayer, but apparently he's going to bend on this to get amazon to move in his state if he can make them do it. new york city council minority whip job or rally. he thinks this is a mistake for amazon, but can you blame them? >> no, no. it says more about the problem about having a high tax state like new york and new jersey if governor murphy gets its way and only able to attract big businesses by dangling financial incentives. ideally, a company should want to come to new york to customer highly educated workforce near the quality of life here in the ability to make a profit. but that is not the case with new york without incentivizing them vis-à-vis big tax breaks. >> you are one of the very few republicans. i think three republicans out of 51 members. i am just wondering if the
politicians, democrats continue to do things that are so opposed to what the people want because they showed that new yorkers wanted amazon here, mike hurt democrats in the coming election? >> what you're seeing on the local level is the adoption of the national model where we are fighting to just gain support of a very small base of far left democrat. as you pointed out, most people in new york city are happy amazon is coming. david: they are not coming now but go ahead. >> most politicians are pandering to the democrats would be upset because of amazon's unionbusting pastore their inability to work with unions. the gentrification based on coming to long island city even the gentrification for most of us is a positive thing, but that is unfortunately what they were facing. local politicians who were going to negotiate in good faith for the real challenges that would befall anybody developing a large area of the city.
david: the bottom line is the line these activists use his progress or just about any progress is bad for people. they call themselves -- the irony is they call themselves progressives but when it comes time to economic arbor is they don't want any part of it. david: it's very sad. i was sitting with one of the new york city colleges who says amazon was already working with the university on free projects like getting to involved, the people involved. there are so many tertiary benefits to having a big company like amazon. that are now just up and mope because of this political pandering. david: job or rally, one of only three republicans out of 51. great to see you or break to talk to you. i appreciate it. reaction from pennsylvania congressman, would you think of this? >> i'll tell you what appeared if they are not going to new york city i hope they come to
pittsburgh. we have so many talented people that would love to work for amazon. one of the most livable cities in the country right now. affordable with a wealth of talented people who can operate in an become part of the picture. i understand all the back-and-forth on it. i get that. we are talking about a lot of jobs and we get a lot of revenue for social security and medicare are the things we hold near and dear to us. come to pittsburgh. we would love to have you. train to which you have been willing to give to amazon all the tax benefits and other things new york city gave to them? >> i don't know what all new york city gave to them, and that i watch what happens in georgia and alabama when kia and hyundai were moving there. when i talk to the lawmakers they said the offset was phenomenal plus the influence and the influx of people coming into those communities they thought was worth whatever they had to put there. i don't know what amazon is
looking for, but i'll tell you what, i've been in the business almost all my life. please come to pittsburgh, enjoy the fact that we have the finest talent waiting for you right now. >> the best baseball stadium in the world. and i'm a yankees fan. thank you for talking about amazon. we wanted to talk to you about the new spending bill, whether it is shut down or not. the new bill is 1100 pages long. you guys are supposed to vote on the very quickly otherwise another shutdown. are you going to have time to go through? >> anyone tells you they'll have time to go through it is just whistling in the dark. this is an incredible amount of money we're talking about spending. one of the things i find as we wait until the night before the term paper is due and try to submit something and we didn't see and wonder why we didn't do better on it. we've had time to work through
this. my concern is when they go through the border law and what we expect for the safety and security of the american people. i am so fed up with politics interfering with good policy. this is not about republicans and democrats and independents. let's make sure we secure everything for the american people. whatever happened to the deferred action on childhood arrivals plan. the president without but none of the water. what started one point for a million dollars in work from there. now they are talking about wasting your tax dollars. the spending bills are really important. every single penny comes out of some hard-working american taxpayers pocket. for us to say we can sit down and absorb for spending money and think it's okay to do that, and not okay to do that. david: you mentioned daca, an
executive decision president obama made, which is the challenge still in the courts. there is a question whether this president is going to make an executive decision vis-à-vis the border while spending, declaring an e. and using money for the border wall that he doesn't get through the spending bill. if he did that come if he signed the spending bill and declared an emergency to fund the border while, what would you think about? >> i heard mick mulvaney the other day talking about there are sources of money that they believe, the administration believes they have access to. they can be legally challenged. the safety and security of the american people as our number one responsibility. if we can't do that and if we have to make it a political game instead of a policy game in order for a win, right now for democrats is the president loses. my question is when does it become a win for the american people. let's stop all of the identity
politics and look what is good for every single american and can we work that way. if you have 435 in the house of a hundred in the senate, 535 people. david: enough people in the senate have gotten together and agreed that william barr is going to be the right attorney general. this is breaking news. this is going to be his second run as attorney general as i'm sure you remember more than two decades ago. george h.w. bush. i don't know if congressman kelly is still there, but wondering your reaction. >> i've watched this euphoric in this process takes place in the senate. we are looking not the administration. we are still waiting to have people approve that can fill the open spaces. this move today, getting the attorney general and their and questions are taking place. government is supposed to work
hand-in-hand to do the right thing for the american people. and so fed up. i'll go back to what i said earlier. those are the people we represent. david: that the bottom line. thank you for rolling with the punches. we appreciate it. congressman kelly from pennsylvania. new optimism over the economy and how new fox opinion polls show trumps 2021 should not be discounted and don't miss bulls and bears tonight at 5:00 p.m. eastern. we will have the latest on border trade in amazon. everything that impacts your wallet tonight at 5:00 p.m. eastern right here on sbm.
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>> they're bringing a resolution for words that they can vote against it. this cheap cynical ploy evidently represents the sum total of senate republican leadership on the vital issue of climate change. david: chuck schumer swimming mitch mcconnell for planning to bring the green new deal up for it though. should lawmakers go on the record on this? a lot of candidates are to have here to republican strategists john thomasson daily caller editorial director vince: a spirit how can democrats call a vote on their own resolution sabotage, something that most of their candidates have agreed is a good deal for americans and yet they're against voting on it? i don't follow. >> at those hilarious. i love hearing chuck schumer being so grumpy about it so much as haitian been hot on the floor. he is mad because he didn't think they would have to take a roll call on who supports it and who doesn't and it's
embarrassing for the democratic party because they thought they could get away with basically having the showpiece and no one would have to affix their name to it. but now you have democratic senators running away from the sanest just aspirational. we didn't hammer out the details and this is sort of classic washington. the type of things voters hate, which is washington pretending to do business rather than actually do it. david: you now have all these contenders to support the green new deal. these are people who want to be president. you better believe they are back now. this is an albatross for them in 2020. no? >> you're 100% right. a brilliant move by senator mcconnell to get a senators on record voting for this green new deal. this great new deal is so toxic on all ends. it's wildly unpopular upfront with most americans except for the far left. with the green new deal does his hands president trump, he can argue talk about how the economy is doing better under his
administration, but hans trump a weapon and that is he can go to places like michigan and wisconsin and make the argument to blue-collar workers saying not only have i hope you, but the democrats who have also voted for this think you are the enemy. they are abolishing your job. you are the problem. look at their vote. david: these people are optimistic. a new fox news poll showing most of them, four to five americans, four out of five americans that they either have achieved the american dream are on their way to achieving it less than 20% say they never will. americans are optimistic about where they are in this economy, but does not take them all the way to the 2020 election? a lot of things can happen between now and november 2020. >> we saw the decade $22 trillion. at some point that will catch up with us and put on the economy.
the president has been upset every time they push rates up you think they're doing a real disservice to the economy was slowing things down when they should not be slowing down. a lot of things could get in the way of this success. that sentiment is really important so long as the president can maintain the sentiment coming meaning the economy does well. he cannot the democrats continue to shoot themselves in the foot. david: the breaking story of the day, both of you guys to chime into this. we had a comment for mayor about amazon decided not. he's really attacking amazon. he says you have to be tough to make it in new york. we gave new business in the greatest city in the world is that of working they threw away the opportunity. what you think this attack on amazon will do to deblasio if
anything? >> well, what it does is to deblasio is busy trying to give away free everything and not worrying about how to pay for it. so when he loses china job creators like this it starts to hurt his tax bases. we are learning the implications in california and new york they are microcosms of liberalism. the policies the democrats are putting forth are killing jobs and we are seeing it. going into 2020 if these are any examples of the arguments of what's going to happen if democrats controlled the presidency. it doesn't bode well for them. david: in getting a push for the break. i have to ask you, deblasio was one of the people that came up with the benefit. now he is claiming it is their fault. i don't think it giants. they are going to recognize the hypocrisy here, don't you? >> is obviously not read about
salvaging the deal. there's no way. meanwhile, alexandria ocasio-cortez should come out in public. i but she wanted that to happen. david: he's not going to build to run again so it's got nothing to lose. good to see you both. thank you very much. why a former u.s. comptroller general is both tourneys are to blame for ballooning debt. that is coming up. and every time we move, things change. apartments become houses, cars become mini vans. as we upgrade and downsize, an allstate agent will do the same for our protection. now that you know the truth, are you in good hands?
david: in both the house and senate today. blake burman has the latest. reporter: the senate first in the house at different points later today. the big question is whether or not president trump will support it. for more than a day now, they have wanted to review the entirety of those bills, 1100 plus pages as it turned out. they are going through all of it
now. the president treated this as well on what exactly over here today. over in poland today will be making his decision one way or another at some point before the deadline tomorrow night at midnight. >> the president is evaluating and i know he'll be making a decision before the deadline is friday. reporter: still no indication as to which way the president will go with this one. in the meantime we are learning about the meeting earlier this week. story of the day attain president trump and governor andrew cuomo a couple days ago. the meeting as you might remember was supposed to be about where the majority was about removing the salted action. that's at. that's at the new york governor came to talk to president trump about.
now we are told the president that talked about amazon's hq to in new york. i am told the president was supportive being in his home state in his home city. the president has said new york and virginia. a very big price. he made comments that he didn't necessarily want to talk about a complicated deal as it is. the president was supportive in new york and we know that turned out. david: a lot of jobs lost. larry kudlow react to engineers at amazon canceling its plan to build a new york on brian to me's radio show. take a listen. >> it's too bad. i mean, speaking as a new yorker would instead have very good name for new york city and new york state. was some controversy, the president and i just met with
governor cuomo and the topic did come up. they would've really helped new york. and it's too bad. train to david walker, u.s. comptroller. they want to talk about the dead and we will ask you about that. some people want to go as far as call it corporate welfare. details were released to the public, but it would have brought tremendous job and growth to a section of new york that has been sort of undernourished economically speaking over the years. what you think about the decision to pull out in reaction from new yorkers? >> it's important for that part of new york. the second location they go to stamford, connecticut. it's only a 30, 35 minute train
ride from new york city. connecticut clearly needs more economic development and they've got it in new governor and they can work out a deal there. plenty of open space after the exodus of rbs and ubs several years ago. >> there was a time and i remember the time they didn't have a state income tax back about 25, 30 years ago. since then. moving to places like tennessee. amazon may grow their facility in nashville and has no income tax in order to accommodate for the lost jobs in new york. if communities want to, aren't they going to have to change the tax and regulatory policies to
lure companies then? >> one of the primary criteria is because they want a business friendly state. that is historic weight not been the state of connecticut. but i think there's a recognition and hopefully it will end up changing course. this is a serious decision for all parties concerned but if they're not in new york and they want to be in that part of the country because of location, location, location, that's like a stanford. david: maybe, finally there's some crack and politicians, some wake, some wake up on that for politicians in connecticut where they've been raising taxes. they need to go in the opposite direction. you think connecticut has reached the breaking point. >> i sure hope so. they need to not only lower taxes the regulatory burdens and restructure retirement obligations. in addition to the
transportation system and i'm happy to talk about the debt, to if you want. david: that me ask you about that because we had $22 trillion mark. doubled under president obama. will it double again under this president? >> it won't double again but let's recognize reality. republicans are fiscally irresponsible. even if it's debt finance that is totally unacceptable. for example we need to have a federal constitutional amendment that limits the debt to gdp. we need to get rid of the debt ceiling limit and focus on debt to gdp. we need to get rid of shutdowns, which are downright and have
automatic continuing resolutions and we need to recognize reality when congress does not pass by october 1, they should not get paid until they do. and they should not receive any retroactive pay. we have a situation today the only enumerated responsibility for the congress in the constitution is to pat annual appropriations bills. they have failed over and over again. enough is enough. david: unless they pay a personal price they'll never change their ways. any takers inside the beltway? there aren't that many people inside the beltway would agree to limit their pay if they don't get the job done. >> look at this. my understanding is california did this. they been getting budget done on time so we have to recognize reality. it's not the federal workers that should suffer. it's the people responsible for passing appropriations to begin
with. david: you're exactly right. jay walker, thank you for giving us a clear example of how to get the job done. i appreciate it. charlie gasparino is back with how much this scandal is going to be costing goldman sachs. charlie can fill you in on the details. >> david, the huge malaysian government infrastructure fund that money has been missing. it's been stolen allegedly. massive investigations involving who stole it. to goldman sachs executive on this fund what's interesting they could come under tremendous liability because they have gone to finance the fund than they
properly disclose some of the potential shenanigans inside the fund in their six government better looking than this. fox business has learned they are trying to tally up the potential liability. what we hear from people who know the senior executives inside goldman sachs, what they're talking about is this thing potentially could cost as much as a year's worth of earnings. we should point out that goldman is a very profitable firm. not as profitable as they once were when trading was all the rage. that is what they're talking about. it could go as high as that. how do we know so much. officials may owe them as much as $7.5 billion in terms of liability. on top of that there is
potential u.s. fines. inside golden and they are tallying up the sheer number of investigations looking at this and talking about something like six combined u.s. and foreign entities including the justice department. they regulate on issues on whether there was disclosures. one other thing that gives you an insight into how scared the executives are about this, they announced they will put in clawback provisions if they found any of these top executives had any knowledge or should have known and didn't know and didn't know. includes voip link fine, ceo and current ceo. back to you. david: that word puts the fear of god. good stuff. thank you very much.
coming up, amazon in the news about moving out of new york. e.g. here they didn't pay any dollars in taxes? zero dollars in taxes again. we are going to break down how amazon is getting away with that. do they bet on tetris. what is all this apparently new again here on "cavuto: coast to coast." but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- metastatic breast cancer, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai.
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david: as i'm sure you've heard, amazon ditching new york and local tax breaks in them behind. amazon paying zero he's done it before. doug mckelway with a closer look. how do they get away with that? >> the same way a lot of people are getting away with this. it's perfectly legal. jeff bezos the "national enquirer" making all the headlines. there's a bigger story out there you can argue with nothing in
federal taxes despite being one of the most profitable of companies. the last year up to $11.2 billion in profits in 2018. the tax burden is zilch and it's done absolutely nothing wrong. thanks to the tax code by congress comments entitled to any number of exemptions and credits that can deduct profits to executives in all internet companies didn't have to pay state income taxes on e-commerce in 2017 that change. amazon does that sales taxes in states that require it. president trump has been a huge critic of the amazon because he owns the "washington post," but the president and his prior business dealings has benefited from the very same tax advantages as amazon. remember this? >> or maybe he doesn't want the american people, all of you
watching tonight to know that he's paid nothing in federal taxes because the only year is anybody's ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license in may showed he didn't pay any federal income tax. >> you heard that off camera. then president saying that makes me smarter. reminder there is a downside to the tax advantages and corporate cuts. the economy is booming. unemployment at record lows that tax receipts are down. in 2018 corporate taxes slipped 17% from october to december from the previous year. your previous guest just talked about the $22 trillion national debt we are now experiencing what has to be done in washington is to raise taxes and cut services and certainly not the political will to do that. david: i'm not sure the jury is out on whether we need to raise
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david: february is national heart health month. many are turning to herbal technology to monitor their heart health. dr. jeannette nash out with more details and i don't have a heart monitor watch but i don't have a family history of heart problems. should i get one anyway? >> not necessarily. if you live a normal healthy lifestyle, good diet, exercise, watching cholesterol, blood sugar and not eating a fatty greasy guy coming on up to spend hundreds of dollars on these devices. if you have a history of heart disease at each real stipulation which is an irregular heartbeat, these devices can make save your life because the devices can pick up your heart rate. they can pick up how many
calories you burn, how many steps you've taken. some can detect your oxygen model. even if you have no heart disease, it's not going to hurt you to pick one out. it might be a good motivator for you. >> at the same time sometimes people become a little too it. they monitor every single beat beat that their heartaches and if there is one beat a little different because normally you cannot irregular heartbeats from time to time. >> it is possible. if you notice a consistent irregular heart your palpitation you need to see your are right away. over 600,000 people die each year. anything that could help detect something is always a good idea but the american heart association recommends making sure you have good broad pressure, making sure your blood sugar is good, exercising, no
smoking, stay inactive. those are the best things to do to protect yourself, your heart. >> it's not just the day-to-day tape. it is the trend over time. if the trend is troublesome. that could be very valuable. >> absolutely. a very unhealthy person and you notice they went for a second that's persisted even young people have underlying heart disease but heart abnormality. in shortness of breath. otherwise anything that can help you monitor your health is always a good idea. david: cbs is introducing a new health care concept. gerri willis has all the details on this. >> hi david, that is right. cbs's unveiling a concept store. the new format focuses less on retail and more on health care called health hub in houston,
texas offering yoga classes with walnut products. health screening, health seminars coming even dietitians and respiratory specialists. meanwhile, an announcement of tetris 99. the classic video game will feature a battle royale mode for 99 players to phase out with each other online. it is free to play an exclusive to online members. coca-cola shares tumbling down 8% after the company reported earnings. investors focus on the below estimate forecasts for 2017 and sending shares lower. coca-cola has been pressured by commodity costs and a lack of trust drivers which put the company to raise prices. david, back to you.
david: gerri willis coming thank you very much. it is valentine's day, everybody. a new look at love scams that are causing people millions. details to come. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.
♪ david: valentine's day isn't just a big day for couples out there. it is also a big day for capitalism. the national retail federation says total holiday spending projected to hit record high of $20.7 billion for valentine's day in 2019. carley shimkus with us, "fox news headlines 24/7" reporter. it is a luxury we all love. ii hope they don't plan to tax s to death like other luxuries the. >> 20.7 billion, that is lot of chocolate. there has to be diamonds mixed in. david: it is all chocolate. >> fewer people celebrate valentine's day this year than years past.
which means more are spending more on the holiday. this is fun holiday story. it is appropriate for this day, february 14th, but this is absolutely a story about the economy and how the economy is going today. look no further than the "gallup poll" the president tweeted about, 69% of the americans expect their finance to improve next year. so this makes total sense. why not to out to dinner. don't even buy the cheapest bottle of wine. spring for next bottle up. david: $55 per couple. they obviously don't live in new york, whoever is spending that money. that gets awe couple drinks in new york. >> state by state. when you think about valentines' day. david: look at the chocolate industry. $22 billion. >> it's a luxury holiday. about chocolates, going out to dinner, those are luxuries. this holiday is not as important as gift giving religious
holidays like christmas and thanksgiving. average spending per person is $162 per year. i saw a wallet hub, a man celebrating valentine's day will spend $340. david: wow. >> who are these men? i don't even expect anything on valentine's day. david: you don't? you should. >> i just expect a text message. david: you should expect. there are love scams going on. tell us about that. >> the federal trade commission reported last year americans lost $143 million to valentine's day related online scams. so what happened -- david: how does it work? how do you get a love scam? >> scammers bo online, facebook, dating website, start a conversation with a victim, formulate a relationship, ask for money. they're nowhere to be seen from again. the really sad part, david, the group hit the hardest, range in
age from 70 and up. a lot of these people are on fixed income. retired, maybe hopely. can't really afford a financial hit like that so the advice if they can't meet you in person, if they say that they're overseas -- david: that is a clue. >> don't give them money. david: that's a clue. you were not only smart, beautiful, anchor woman but you are also a millenial. i got to take advantage of your millenial status which i don't share to ask but the fox news polls. specifically about capitalism, versus socialism. they say there are a lot of people now of your age, of your generation who are drawn towards socialism but these poles, even though we didn't really break it out in terms of age here, clearly show the american public does not believe that socialism is an answer. >> i think that is one of the reasons why president trump got the big applause line during the state of the union address. david: not from nancy pelosi sitting right behind her. she didn't give him applause.
>> people with three initials in their name popular person to talk about in the news today. i think one reason why some millenials are drawn towards socialism, because they have been told it is fair and fair equals good to them. and they're not really told, that it means government control a lots of people hear socialism, they think fairness. they don't think government control. for younger generation of people it is becoming more popular. david: one of the questions, kind of dealt with that a little bit, the question was from the "fox news poll," the message you would send to the government, leave me alone, versus lend me a hand. it is a very good, breaks down very quickly where you stand. leave me alone crowd is now 55% compared to the lend me a hand crowd that is 34%. i would think most millenials would be suspicious of the government coming in saying, i'm here to help as opposed to those
who say don't come anywhere near me. >> leave me alone, lend me a hand, those are longer versions, you know, capitalism versus socialism. i do think that young people, if you know, you're in that sort of age range where you're struggling with student loans still, you maybe need a little bit of financial help see words lend me a hand, seems appealing to you especially bernie sanders saying that. higher education is something that the government should pay for. those are pipe dreams. seem great to young people. but how are you really going to pay for it? that is a big question. david: you had to remind me our first time together was on a show, "america's nightly scoreboard." used to be on fox business. >> first person to talk to me on tv. david: it was cards to hold up. it was a great game show. i do one here at 5:00 p.m. on
"bulls & bears." hope you can tune in. stay tuned. keep it right here on fox business, because of all breaking news with amazon, what is happening to the markets, et cetera. who better to guide you along in very busy news day, our own friend charles payne. good to see you, charles. charles: you too, david. i really, really appreciate it. we have a wild and crazy day going on now. as you heard amazon ditching new york. pulling out of the deal. no hq2. a lot of mixed feelings. dow staging a remarkable come back. the dow was down 130 points. now it is only down 30. there were worries with retail sales a gigantic mission. people wonder is the american consumer worn out from all the bad news? are they tapped out? we'll discuss that and a whole lot more on "making money." ♪