tv WSJ at Large With Gerry Baker FOX Business March 27, 2021 9:30am-10:00am EDT
don't miss it 10:00 a.m. eastern live on sunday on fox news. right here on fox business start smart from 6 - 9:00 a.m. eastern with "mornings with maria" on fox business. that will do it for us for this weekend, thank you for joining me have a great res weekend. i will see you next time. ♪. gerry: hello and welcome to the wall street journal and large i am james freeman and for gerry baker. much of today's media dominated by progressive leftists who are good at destroying tradition, careers and free expression but what exactly are they building. after all the societal broken eggs where is the progressive omelette. in search of the model of success that gives the woke stores confidence in condemning america's constitutional republic i recently invited
journal readers to name a civilization created by progressive leftists. when you pose this question, you may only hear crickets. few people will look at venezuela run by democratic socialist inhale as a model of the blyton governance. when i pose of left-wing respondents they expressed resentment but others nominated nations western civilization that are progressive targets places like the united kingdom and even the good old usa saying they were created by the progressive other day. now maybe this is encouraging when pressed the council crowd acknowledged it's okay to judge people by the standards of their own times. but their answers are wrong. when i put the question, robert george he said the claim the american founders were progressive leftists is absurd, according to professor george
the american revolution was not in any sense inspired or guided by the ideology of the progressive left. a value not only individual rights but the a tot ami integrity, the institution of civil society. the idea of limited government was to protect not only the individual but also the family, the church and other nongovernmental associations from the control of the state. needless to say progressive last until left there's little for government or the autonomy or the institution of civil society. progressives are certainly enjoying a lot of influence in washington these days and speaking of radical, the biden administration is pursuing progressive budgeting spending $1.9 trillion on a so-called covid relief pan and moving onto another bill estimated cost 3 trillion, 4 trillion, 5 trillion maybe something more than that. but you did not necessarily get the idea what's going on in
washington from this week's news conference with president biden who struck a reasonable and moderate tone. joe concha, our media colonist for the hill and a fox news contributor, thank you for joining us. >> it's good to see you, happy friday. the biden agenda is essentially a massive transformation of the united states, certainly its economy moving us whether you call it the beginning, they're down payment of a renewed deal or something else, we are talking about spending which is unprecedented as the united states soars past the dead of a hundred% of gdp but i would say in the press conference this week the combination of questions and answers did not really give people a sense of what is going on there. >> we did not hear anything about spending, think about this
now nearly 2 trillion spent in a covid age package that had nothing to do with covid aid and 9% of it or something went towards healthcare and 91% towards pet projects to keep democrats and blue states happy, you look at the infrastructure bill that is next in line $3 trillion and it does not talk too much, a third improving roads or fixing our bridges or fixing with our power grid instead free community college and equity is in there as well and paid family leave, what does that have to do with infrastructure, when you added up at $5 trillion, when joe biden left office of vice president in 2016 the entire u.s. budget was $4 trillion, just in these two spending bills alone that's what's happening and no questions hey mr. president i know you want to raise taxes but even if you raise taxes on everyone how do you pay for this and not pass on the bill to our children but overall the press conference was
an absolute disgrace for many in the press corps because we did not get the hard questions that you would expect to be asked why you're getting absolute advocacy from some reporters. i'll give you one example of pbs your tax dollars of work she got the second question it was embarrassing she made the argument that the surge of the border was only happening because joe biden is a moral and decent man and she didn't bother to ask biden didn't use it as a candidate you surge the border, after that it actually says biden should back the filibuster in the name of civil rights and voting rights. this is biased in broad daylight and playing out on national tv. a question i would've loved to heard is something along the lines of this you captured vice president kamala harris to leave the effort and solve the crisis at the border yet she compared ice to kkk agents while saying crossing the border illegally should be decriminalized, how does 70 with this perspective
get to fix a problem that she does not really seem to think as much of a problem, that's what i mean we did not see too many questions and 70s all rambling joe biden who unlike donald trump get interrupted with 20 seconds into an answer he got to speak minutes at a time, peter doocy probably would've been the only person to ask those but people handily mr. biden was on a list of predetermined to assess questions. >> not a lot of substance but on the style of it, certainly i think in some ways for people who wanted a restoration of washington custom after the trump era maybe they got it here. you have a polite polished performance, you have not a lot of straight answers, yet a lot of answers that had something for everybody, you mentioned the
filibuster and is started out sounding like he was defending the tradition of the senate and wanted to see them restored and he ended up saying by the wave don't get what i want i'll get rid of it essentially. it's just as far as the performance and i know a lot of people wonder coming into it because mr. biden is not a kid, how would you view the presidents performances we? >> it was very joe biden, what was unprecedented about this press conference and all your points are correct mr. biden had what looked like a multipage document that he kept flipping through and at some point was reading off a directly, have you ever seen a president do that before, i am not and i wish some reporter in that room would've asked mr. president what is that folder that you keep flipping through near asked the question, why do you have to read answers in some situations, are you
confident in your ability to make an argument extemporaneously without making notes, i would've liked to her that question but i did not quite get it. >> that aspect of it did make you wonder why are they holding this event, thank you for joining us, we appreciate it. >> great to see you james. james: the probe and hunter biden may have been buried by his father's election to dismiss by the liberal media but the investigation is ongoing we will dive into the latest of the biden family business with peter schweizer next. >> i don't think there's a lot of things that would happen in my life and my last name wasn't mm. [ clicks tongue ] i don't know. i think they look good, man. mm, smooth. uh, they are a little tight. like, too tight?
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abuse. there is another story about hunter biden under federal investigation into his tax affairs related to overseas business perhaps in china, ukraine and elsewhere. in joe biden's press secretary on thursday said she would never heard of an alleged 3.5 million other payment involving hunter biden and a russian oligarch. >> there was a report in the senate finance homeland security and it claims that the moscow's former mayor and the presidents on $3.5 million, there was no explanation and i'm wondering if you could tell us if that claim is accurate and if so what the $3.5 million equaled. >> i'm not familiar with that claimant doesn't sound like it's backed up by a lot of evidence, i'm happy to discuss it further. >> so you have not asked about this. >> i'm not familiar with the report at all. >> this payment like other payments overseas including from
companies in china and elsewhere has led to questions of what exactly did hunter biden do for the money, with me not to take up the question peter schweizer president the government accountability institute and offer of the book profiles and corruption and abuse of power by america's progressive elite. peter, thank you for joining us. >> great to be with you, always great having me. >> i want to get to the three and half million dollar payment from alina boettcher bema, she is a russian oligarch a real estate magnet wife of a former mayor of moscow, now jen psaki the president's press secretary seems as if she hasn't heard of it were that was the impression she gave at the press conference. this was in a report by the senate finance and homeland security committee released last year.
>> your exactly right, to add to that she question what is the sourcing for that report. the u.s. senate committee got the information on the wire transfer from the u.s. treasury department, the treasury department which monitors financial transactions will issue the so-called sars report and suspicious activity reports. this transfer of three and half million dollars was flagged there was no question, she sent this money to joe biden's firm and for her to pretend that she had not heard about it i think is kind of laughable and it's clear that a happen, the treasury department monitored it, it's another example that the biden family and the biden team has never answered this question, they distort them, they say they don't know what they're talking about and i think the press needs to remain curious about this he's president and their financial entanglement and it's an absolute legitimate story.
james: another foreign entanglement for hunter biden came up in a press conference with jen psaki that she indicated he is a part owner of an investment firm called bhr can you tell us about that. >> bhr is behind the harvest rft is of chinese private equity fund i would put private in quotation marks because it's funded by the chinese government and they set this vehicle up in 2013 hand is basically run by chinese financial professionals and then they have a couple of americans that they added to the board of directors, one of those would be devon archer hunter biden's business partner and hunter biden himself and we know by the terms of the deal he was put on the board and he was basically given an equity stake in the firm and the bottom line
i raised from the beginning as we talked about before, there's no logical explanation as to why hunter biden is on the board of this entity, he has no backing a private equity and no background in china and the point is this 10% equity stake by some estimate from scholars at the university of chicago and elsewhere could be worth 30 or $40 million and has all the smell of a payoff or access or influence or something like that, it is one of a series of deals that hunter biden did with chinese government entities while his father was vice president, he had a real estate deal that involved the charge use overseas shipping organization in a couple of investment funds that he set up that he got involved in, the bottom line there was a lot of
financial ties between the biden family and the chinese government and the biden did not bring anything to the table, they did not bring expertise or capital, the question has to be asked why did the chinese give them a coveted seat at a very, very costly inexpensive table. this be what you meant in the biden, last question we mention hunter biden autobiography coming out and it's about his personal life and they think a lot of people may be inclined to ride off some of the foreign entanglements as a result of his struggles that he's had in his own life but as you pointed out in your book this is a biden family issue, beyond hunter that his brother frank and his brother james are involved in is not so dissimilar from hunters.
>> this is not a story of a guy that has a substance abuse issue who went off the rails, this is a story of a family who systematized self enrichment and corruption through public service, they should try to hide behind the tragic personal problems that hunter biden has and that he is wrestling with. >> we will stay on the story, thank you so much for joining us. >> you are welcome. james: coming up a battle is brewing in the country over the level of herd immunity, needing to fully reopen. our next guest says it's close to the dr. fauci predicts. we will take it up with doctor marty makary next. ♪ limu emu & doug ♪ liberty mutual customizes your car insurance so you only pay for what you need. thank you! hey, hey, no, no limu, no limu!
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challenges in front of us with regard to the high level of daily infections. when you're at that level i don't think you could declare victory and say you've turned the corner. james: doctor anthony fauci insisting the u.s. won't achieve herd immunity until 75 - 80% of the population is vaccinated including children, currently 40% of the u.s. is vaccinated more than 25% has had one dose. for nearly a year the children of this country have had to borne the burden of the covid response. living in isolation, learning that a distance often not being able to participate in activities that they enjoy. my next guest says there might be a better level for vaccinations of the vulnerable where we could possibly stop contact tracing in testing and remove the restrictions that we have in place, isolating our children who most of whom have never been a high risk. let's take it up with professor
of health policy management of john hopkins in a fox news medical contributor doctor marty murky. thank you for joining us. you caused a bit of a stir in the campaign to silence you on facebook in february when you wrote inner pages that the u.s. herd immunity by april and that would allow us to resume a normal life what is your timeline look like now, are we still on track for the herd immunity and is normal life mean what it thinks we mean is it and into the restrictions in isolation? >> i hope it's an into the excessive restrictions because it's happening many parts of the country but we already achieved herd immunity in certain parts of the country, north dakota they are basically there we achieved herd immunity healthcare workers most of which have been vaccinated or have the infection. we will probably see herd
immunity and most of the country toward the end of april and probably end of may, 20 states, this does not get a lot of coverage 20 states had days last week with 0 deaths per day, what you call that we will see a divergence of the data where high risk americans have been experiencing the pandemic and their numbers are getting much better as vaccination rates are way up, pretty soon we have to get back to normal life and there's a threshold were about to cross in many parts of the country and we stopped testing people who are already immune, when dr. fauci said that 70 - 85% of the population has to get vaccinated in order to reach herd immunity it is not honest with the data a good study came out to california that i wrote about in the wall street journal, shows 39% of the population that in our bodies, that was a month ago and since then there's been a lot of cases confirming more immunity and it takes time for the body to develop in a bodies so over half of california has had natural
immunity from prior infection. that means we need to get more people vaccinated to hit the significant thresholds of slowing but let's be honest with folks and not manipulate the reality just to encourage more vaccinations. james: it sounds good, make sense, thank you for joining us. >> thank you james. james: coming up my thoughts on joe biden's big infrastructure plans, don't go i've lost count of how many asthma attacks i've had.
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james: before we close this show will one more story to share you heard of washington legislation to fund info structure. those are the bills you hope don't cost too much but will fill the potholes on your way to work and maybe replace the 100-year-old bridge you have been driving over and a year later you find out the money went to bike paths, solar panels and airstrips in the alaskan wilderness. this time washington is warning you upfront seek and set your expectations very low. this year's model will be the most expensive ever enacted, congress and the white house have not decided how many trillions of dollars but not only is most of the money going to roads and bridges, some of what's left is going to projects that would reduce the size and number of highways, transportation secretary pete buttigieg says some roads need to go on a diet.
here is hoping they're not the ones that need to get to work. that is it for us this week jerry will be back next week on the wall street journal at large. thank you for joining us. ♪ >> "barron's roundtable" sponsored by invesco qqq ♪ ♪. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead i am jack ought her. pandemic lockdowns change the way companies do business, dan springer will tell us what's next with the work from technology. later how to improve returns on your portfolio with solid companies that pay big dividends but we begin by always what we think are the three most important things investors should be thinking about right