tv WSJ at Large With Gerry Baker FOX Business July 30, 2021 11:00pm-11:30pm EDT
will speak with former white house senior aide to president trump stephen miller former hud secretary ben carson in wyoming senator john barrasso, it's good to do a press have a wonderful weekend and thank you for watching. ♪ ♪ ♪. gerry: welcome to the wall street journal on large america has better weeks in the last month from new covid rules to a weakening economy to violence on city streets in the olympic games that quadrennial celebrating but things don't seem to be going to quite right direction to joe biden's america, cuvée cases are surging, mass meetings are back in the economy is weaker than we
thought major cities are in the grip of a violent crime and shows no signs of easing in the nation star athlete pulls out of the games for mental health we can't blame president biden and the democrats that simone biles was unable to continue in the gymnastics world but pretty much everything else right now is creating real doubts about the direction of the country and the president who took office six month ago. on thursday we learn a and annual rate of 6.5% in the three months to june that may sound like a good number and historically it is a good number and total output has indeed recovered, it's recovered all around the pandemic, the growth is much lower than economist have forecast in the headwinds for the economy seem to be getting stronger even as inflation continues to rise. the country is feeling confident, feeling confident in the american leadership that
seems to be stifling the chances of a full recovery. after a year end a half which americans have been through the worst public health crisis in a century the nation should by now bounce back with vigor free from the fear and restrictions of the pandemic. seem incapable of letting americans get the country back on the right path they said in this and determined to keep on the leash the disease or control reverse course and told us is once again recommending that masks be worn even for vaccinated people when indoors. democratic politicians welcome every opportunity to impose new rules. >> certainly the republican party has been delinquent in embracing the science that people need to be vaccinated. that is why when we talk about the masking policy in the house following the guidance, we follow the guidance of the position there is no discussion
about should we do it. gerry: nancy pelosi said mask should be required for all members in congress, when republican leader kevin mccarthy criticized the move the speaker who you may remember was offended by the un-statesman of donald trump when he was president had a very statesmanlike reply. >> leader mccarthy. gerry: still republicans pushback north carolina republican dear the speaker to come and get her. >> socially distant from anybody else they had a covid into vaccinations, i'm washing my hands and wearing my mask inside the chamber but i'm not going to work anywhere else madam speaker, come to get me. >> republicans are right to be skeptical of the latest position in the confusing messages coming out of the government.
>> if you been fully vaccinated you no longer need to wear a mask, let me repeat of your fully vaccinated you don't need to wear a mask, if it was possible that would turn out not to be true. >> i think were all dealing with in a involving fibrous where there's no playbook in historic president the american people should feel confident that we will continue to be guided by science. gerry: cdc's new rules followed by mask mandates and many democratic-controlled cities have no real basis in science and not good policy the cdc is also recommended masks for all k-12 students even those who have been vaccinated even when we know there's no risk to children. >> cdc recommends that everyone in k-12 school where a mask indoor including teachers, staff, students and visitors regardless of vaccination, children should return to full-time in person learning in
the fall with proper prevention strategies in place. gerry: as we noted before cases of the delta variant are indeed rising, hospitalization and death remain lower in previous covid waves requiring those who already have their covid shot to wear a mask is one sure way to persuade those who are not vaccinated the very ones who are at risk of covid ensures they will not get vaccinated themselves. it's a self-defeating policy, it appears to be designed to protect them vaccinated from the consequent is of their own decisions. or it's a sure sign of the democrats believe only big government knows best and it's only contributing to the wider lack of confidence that americans are feeling right now. more of this with democrats pushing ahead with their own huge spending plans after they secured a rare bipartisan deal with $3 trillion of infrastructure spending we will consider in detail the record of the first six months.
joining me now top advisor to president trump on trade and manufacturing peter navarro an early component of an aggressive response to the pandemic and a key force behind the operation warp speed which was a successful measure by the trump administration to robot vaccines. thank you for joining us. >> good to be here. gerry: let's start with where we are we do seem to be going backwards as far as where we are in the pandemic we thought we were liberated from the pandemic restrictions and lockdowns and everything else another delta variant is surging but without any significant risk, thank god that can help the vaccinated people but we seem to be going backwards in terms of what our freedoms are, what is going on. >> let me take you back in time to february 9, 2020 in the white house with doctor stephen hatfield, rick wright from the health and human services and we
were getting operation warp speed jumpstarted and i mentioned this because at the time we were looking at the experimental gene therapy, the mrna that have been produced by pfizer image irna and at that time, we were clear eyed about the risk associated with that but we had no other choice but to move forward, my point were very dangerous decision one path the biden administration is hurtling down goes to universal forced vaccinations, the other is an alternative strategy which would be targeting vaccinations to the high risk population and letting everybody else deal with it in a way where they use therapeutics. gerry: them interrupt, i want to pull up for you you cannot see it but you may have seen it, it's a new york post today on friday had a very good from page
graphic if you'd like we can show that wouldn't you say the line is insanity from the york post it shows a huge square lots of squares with the number of people who have been vaccinated in the tiny, tiny fraction of them that have actually had breakthrough cases, the vaccine is a very powerful wave of episode in that, the vaccines are working, are they, why given they work in terms you're right, they don't necessarily stop at the spread of the disease but they do stop people from getting sick, why do we need, people are vaccinated that they're not going to get sick and die why are we pressing ahead with the border campaign and other people who don't what to get vaccinated that surely their decision it's their choice, they have that
decision. >> it should be the individual's choice, we have a democrat pro-choice and respected that and the irony, what you want to do is get to herd immunity in the general population to resist the virus you're better off allowing healthy people and experience a virus and have moderate to no symptoms, build up the antibody immunity with the vaccinated people who are at high risk like seniors, you will get to a much better result. gerry: we have to take a short break, when we come back i'll talk more broadly about the economy particularly the democrats response in the bipartisan deal that we got on infrastructure this week and where that's going and where the republican party as well as the democrats. >> were touching every element of infrastructure, basic and
wanting to get on the internet, bridges and roads and everything, airports, we touched everything. this is what's bringing america together knowing that we can do something that is needed for so long. everyone has worked so hard. that this is a job that is well done and there's a lot to do. ♪ welcome to allstate. (phone notification) where we've just lowered our auto rates. ♪ ♪ ♪ ♪ and savings like that will have you jumping for joy. now, get new lower auto rates with allstate. because better protection costs a whole lot less. you're in good hands with allstate. click or call for a lower auto rate today. ♪ when i was young ♪ no-no-no-no-no please please no. ♪ i never needed anyone. ♪
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two and three and half trillion when you were in the white house the trump administration spent a lot of money helping the economy already we seem to be in a mode where there's no limit to the willingness of republicans and democrats to spend money. >> clearly desensitize, not just to the trillions and trillions of dollars that we keep want to spending but to the behavior of the federal reserve which is actively accommodating that spending by printing money which is going to be inflationary, driving the dollar down, i think there is seven things i can point to you in the biden administration. what we did the biden's undoing tax-cut, deregulation, strategic energy and cheap energy, fair trade, higher defense spending, arms transfers and on top of
that fiscal irresponsibility all of that are no growth scenarios and that's exactly what were getting along with inflation which is stagflation. gerry: we have to take another quick break i want to talk about a topic close to your heart which is china in the future china u.s. relationship and how you see the evolving in the next few years. >> i spent a lot of time was xi jinping, president of china, he really clear, he doesn't think democracies can compete in the 21st century. i have news for him hypocrisies will not succeed if we do what we can do as a democracy. ♪
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gerry: i'm back with peter navarro forward advisor to president trump i think it's fair to say when history looks back on the last few years that it will decide the trump administration changed the paradigm as far as dealing with china we had successive administrations thought to engage china and encourage china and frankly let china get away with cheating in international trade and markets, you came along and to be fair to give you
credit you change the way that we think about that, the biden administration has accepted the premise that china is a strategic adversary or competitor but it doesn't seem to be doing much but china continues weathered cyber hacking or doing what it's doing with companies in the u.s. and elsewhere still throwing his weight around the administration doesn't seem willing to push back what should they be doing? >> they should do with the trump administration is doing with respect to the economic aggression in china engages in in sanctions and tariffs they should stay in place and be increased china should not have access to capital markets the stain of the concentration camp with the uighurs resisting over times in the binder administration has turned a blind eye the two most important things for me on the china front when i was in the white house i
drafted an executive order that would've formed a commission to examine the origins cost and geopolitical implications of the virus, clearly at the end of the process we would see enormous reparations imposed upon communist china for unleashing the virus i still think that we should be doing that instead of some of the other things were doing. gerry: to be for the biden of administration is conducting the intelligence investigation to get to the bottom we don't know the conclusion what they're going to do but they are pursuing. >> that is limited to where the virus came from is not broad think. this virus from china has caused a years worth of gdp for this country conservatively, they os that implicitly uses virus to
advance his political and geopolitical agenda across the world including in hong kong hong kong would not have fallen for the pandemic the only thing i want to mention is taiwan i'm extreme the concern that china will make a move on taiwan in the next 12 - 24 months in the biden administration will blink and we will use taiwan to the free world as we used to call it just like we did with hong kong, president trump was the first president to stand up to communist china and it was a great epiphany they remember historically in the above many of the other things i he did. gerry: a final question on taiwan do you really think the u.s. is prepared to go to war with china to defend taiwan's
independence? >> militarily prepared, probably not. >> to think the american people would be willing to go to war with china over taiwan. >> is a good question but if we remember what happened with imperial japan when the uses same strategy to advance from the first island which taiwan is a centerpiece in the second island to projected power we know what will happen, the c line in the south china sea are some of the most critical in the world and that's why we projectile the way that we do it goes back centuries to protect the economic prosperity and nobody wants war but we get war women get weakness and that's what i'm afraid with joe biden. gerry: another fascinating conversation thank you for joining us coming up simone biles withdraws the tokyo lipid games criticism and praise this week, my thoughts on why both
responses are completely unjustified. that is next. >> i thought it was best if you took over into the rest of the job they are medalist now and they should be proud of themselves for how well they did last minute having to go in, it's been really stressful at this lipid games as a whole not having an audience there's a lot of variables going into it's been a long week and along olympic process and along year. ♪ at usaa, we've been called too exclusive. because we were created for officers. but as we've evolved with the military,
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gerry: the tokyo olympics and simone biles the young gymnast with a handful of gold-medal she pulled out of the gymnastics event after disappointing start and withdrew from the individual she explained it was a result of mental health and she did not feel safe competed in a high-stakes atmosphere. a storm back home a number of commentators criticized her for quitting on her team after she did bad but others described her as a his heroic statement for mental health progressive commentators in particular in the priester withdrawal. both responses tell us how nonsensical and toxic public discourse has become in the modern media age none of us not
tv commentators just watching athletes doing simple things none of those is to condemn her for her decision given all she's been through in her young life and career we have to respect her and sympathize to put her health and safety first. but neither is it right to agree to a moral victory athletes commit to extraordinary physical and mental effort reaches the very best of the ones that push through the pain and anguish and reach the highest peaks there's no shame in not being able to do that but there's nothing to celebrate either the problem that we become a culture that values failure almost as highly as success is especially true when we can argue there is a terrible injustice or persecution responsible for the failure some suffers oppression she has done extraordinary things and she may do many more, we certain hope she does but we should be careful not to say her decision to pullout represents a moral triumph over evil forces
in society. but the u.s. did have a victory to tourists when lee has suffered setbacks in a day later tangled in the all-around individual contest that is something worth celebrating. i'll be back next week with more in-depth interviews. they can bring much for joining us. ♪ >> "barron's roundtable" sponsored by invesco qqq. >> welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. and jack otter charles schwab chief investment strategist liz and solders with outlook, big tech reported lower earnings why did investors sell the stocks we begin as always with what we think the three most important