tv The Intelligence Report With Trish Regan FOX Business October 11, 2017 2:00pm-3:00pm EDT
very strong job market. economists expect one more interest rate hike before 2018. our very own adam shapiro is standing by live at federal reserve. he has the minutes for us. going to him now. >> persistence of low inflation might result in the federal funds rate staying uncomfortably close to its effective lower bound. the fed is worried about low inflation. there is disagreement about policy members about the pace of future policy action on rates. they go on to say that a few participant thought additional increases in the federal funds rate should be deferred until incoming information confirmed that low reads on inflation this year were not likely to persist. so the fed, divided on why inflation remains low. how quickly to raise interest rates. many participants worried about low inflation persisting. many participants are in favor
of a third-rate hike this year, but they say perhaps, they need to slow down. quote, it was noted that some patience in removing policy accommodation was warranted a few of these participants thought no further increases in federal funds rate were called for in the near term. that upward trajectory of the federal funds rate might appropriately be quite shallow. to sum it up, trish. fed is worried about persistent low inflation. that they want to go forward with another rate increase in december, there is disagreement in pace of future action on rates and that key quote, might result in the federal funds rate staying uncomfortably close to its effective lower bound. back to you. >> we have robert luna, and steve cortes an our very own lori rothman there at nyse for us. steve, start with you, why is
there no inflation? why is it so low? >> well, this has been a persistent problem obviously ever since the great recession we came out of. we had low growth, and we've had very little wage growth. that is the main reason. the real answer to your question to get real inflation, typically, historically, last time we had serious inflation in this country is 1970s. you had real serious wage growth. the bad news we haven't had it but good news it is starting to tick in that direction, i do think inflation at is percolating here. trish: robert, there is inflation in things like housing costs and energy prices, not so much of as of late but we have seen inflation there the last eight years but no inflation in wages as steve points out. it is like consumers are stuck in a bad spot because they have to pay more for housing and pay
more for food and energy costs. they don't have the means to do so. when you get in that economic environment, i question what the fed can do? >> in 10-year, we've been bumping up against 2.40 for three months. i'm not looking at the charts but i'm sure it is heading down the 2.20 range. trish: 2.34%, guys, this is unbelievable, the 2.34% on the 10-year. if you're willing to lend the u.s. government money, it is such a sure thing, it is good, it is such a sure thing they will not pay you anything for it. 2.34%. that tells you looking in the future, lori rothman, saying 2% for 10 years of having your money tied up. what does that tell us about future growth. >> well, i'll tell you off the top of my head says buy stocks. you're not getting money for bonds but it is actually one of the most security invests, u.s. government debt.
let me share money line from minutes, further rate increases should be deferred until further information is confirmed. that is why we're seeing a pop. increase, nonetheless. s&p is up better than 1 1/2 points. s. it does appear everyone is on board for third interest rate increase for 2017. so the fact that everything is consistent. but we do want to hear what, how the hurricanes impacted, and seems to have just a mild temporary effect. and that the second half of 2017 gross domestic product is key in the minutes, i think, should maintain on a gross trajectory. pretty good minutes read all in. trish: steve cortes, bear with me for a minute. we could talk about inflation in asset price, right? we've seen a stock market on a tear, not just since donald trump became president, but over the last near decade we have increasingly seen market
highs. this is despite weak economic environment. really, perhaps, somewhat related to the fact that the fed was so willing to print money for so long. >> right. trish: so i guess i question, there is no real inflation in the economy, yet, there is inflation in asset prices. did the fed make a mistake leaving interest rates so low, for so long, essentially trying to do all they could to prop up the economy? >> trish, did they make a mistake? i believe a gargantuan mistake. you're exactly correct. asset prices have been doing wonderfully. the problem with that only a small percentage of people in this country own significant assets, real estate and stocks specifically. most people are wage earners. they make their living month to month. for wage earners this is miserable decade. the fed is totally ineffective growing main street even though it is food for wall street. i would argue we're done with this experiment. the fed into evidences to
formalize, as quickly as they can, the answer isn't fed policy to get growth going. it is fiscal side. tax cuts, deregulation. which already happened. this is what donald trump is doing. trump is opening a window so fed can normalize without massive disruptions to markets. because we thankfully, finally have growth accelerating in this country. trish: i talk a lot, robert, about an hour glass economy. i'm drawing it for you. i don't know what you can see. these are the wage earners. they are stuck right in the middle. they haven't been doing well. those on top, they benefited from this asset inflation. those on bottom have been able to collect handouts through redistribution of wealth we've seen under the last administration. those in the middle trying to earn honest living they're feeling a pinch. can the fed do anything about them? >> the thing, not only wage
earners, trish, it is savers, our clients retirees, forced to take on risk assets, 2.2% on million dollar retirement portfolio, can you live off $22,000 a year? most of our clients are not. they are forced into this situation. i agree with steve except for one point. i think the fed actually done a pretty good job. they shot only bullets that we had. there has been pretty much gridlock on fiscal policy we haven't been getting anything done in washington. to your point, tax cuts, deregulation, that is where the baton need to go to for savers. trish: maybe it does. we'll see. we'll talk a little bit about the president and tax reform coming up. steve, lori, bob, thank you very much. >> thank you. trish: president is welcoming canadian prime minister justin trudeau at the white house as they dive into another round of nafta negotiations. as the president continues to take a very hard-line on trade, renewing his threat to terminate the 23-year-old agreement all together, if it can, a deal can
not be reached. my next guest says he is disappointed with the negotiations thus far on nafta but believes trump can get the ball rolling and can make major progress this beak. joining me secretary of agriculture sonny perdue. >> thank you, trish. trish: what do you think will happen with nafta? >> i think we'll get a deal eventually. president is trough negotiator. i want a tough noth tore as our president. some deals lacked enforcement. we looked the other way. we have been kind of patsies on some of these things. mt. is sending a message. he is serious about trade defecits and serious about getting jobs in the u.s. trish: what is your problem with nafta? >> canada, dairy management supply program. they're overproducing creating depressing world prices for milk solids there. is wine issue in british columbia, they're not letting our wines out front where customers can choose. there is poultry access issues.
some things left out of nafta from canadian access perspective is not fair for the u.s. trish: i think this is very, very interesting pause you know, if you go and you study economics, typically they tell you, you want these open markets. globalization is good. that you know, the rising tide lifts all boats. but, in many ways we have seen that hasn't worked. certainly with nafta, we have 700,000 fewer manufacturing jobs now than 23 years ago when nafta went into place. i'm not saying there is direct correlation but may be a correlation of sorts. do we need to rethink agreements and globalization economy? >> i think you and the president are thinking alike in that way, should we look at that? he wants fair trade. he wants free trade but wants fair. our u.s. market, largest consuming country in the world, we're letting all these things in essentially tariff-free and coming in freely while we're
blocked from many markets across the country, including some in conditioned today from dairy as others we mentioned. i think president has same attitude. time to look at these again from a nafta perspective and certainly from core perspective and certainly from china's perspective. trish: we get these things cheaper, right? if canada subsidizing agricultural products or cheaper to make an iphone in china then we as consumers benefit from it. as we look at inflation on a day like today when the fed says no there is no inflation out there, and we say why the heck not? is that in part why? all these countries effectively subsidizing goods coming here we're benefiting from cheap goods while simultaneously losing out to better wage jobs? >> the consumer has to weigh that one of the things of trade, we do things well here in the united states, particularly ag products. that is why we have trade
surplus with agriculture. we ought to diagnose how countries are more effective manufacturing. is it true subsidies or other things we need to look at? president's tax policy is right on target. of the president trump is headed right down that line. trish: if you lower corporate taxes make it attractive for businesses to be here, employ here. >> to create jobs here, manufacture here. i think we can increase our manufacturing exports here if we have good tax policy. trish: how did that get so out of hand? this is supposed to be the land of opportunity, capitalism at its finest but you look at corporate taxes we're highest in the world and those two things don't really jell together? how did that spiral, if you would, out of control? >> i wish i knew. you did a great job drawing your earlier hourglass there. trish: hour grass economy. it is, hourglass economy.
it is, these folks here are going to work and saving their money. they are the ones that are stuck. if you have money, sure you can invest it and you can make more. if you don't have any money, people will there be to help you out, redistribution of wealth. it is these folks in the middle and how do you help them? if you look at president trump's tax policy for middle class, not only corporate investment to create jobs but get wage earners for in demand. look at immigration policies, he is trying to raise wages with immigration policy as well. trish: that helps low wage earners. >> absolutely. trish: if you're a low wage earner, a ton of immigrants disblasting you in that job, keeps your wages low. >> exact choke point you mentioned, tax policy and immigration policy where the president is trying to effect, to raise those boats in america of middle class of wage earners
for better opportunities. trish: mr. secretary, do you think he will do it? we watch all the discord in washington. you have a lot of republicans traditional republicans have not quite jumped on board. a lot of hawks concerned that we're acquiring too much debt and we're spending too much money. will he be able to pull everyone together? >> if you look at his history he has been successful in many of those things domestically and internationally. we have challenges in congress. the health bill shows that. i think the public needs to speak up over the policies. let people members of congress know what they would like to see. trish: how do you like to work for him? >> i like it. it is interesting and intriguing. i love the job obviously. my background is farm, veterinarian agribusiness career. fits right in with the secretary of agriculture. i was out at and urban faa school here in the city. it was absolutely amazing. future of those young people in the industry of agriculture is so bright. trish: a lot of technology
there. when you think agriculture you think farming but there is a lot of technology. >> a lot of technology. trish: president is speaking with the prime minister of canada. let's listen. >> thank you very much. i very much appreciate. we are here with a man who has become a friend of mind, prime minister justin trudeau and mrs. trudeau. thank you very much. we appreciate it. we're discussing many things including nafta but we have discussions scheduled for quite a few subjects. i think we both look very much forward. i want to tell you, justin, great honor to have you both with us. thank you, thank you very much. >> thank you. great to be back here in the oval office. the president said, a lot things to discuss. we have incredibly close relationship, two countries interwoven in our economies, in our cultures, in our people but we have a good, a good partnership and there is always
a ways to improve it. always issues we need to talk through. that's why having ongoing constructive relationship between the president and the prime minister is really important and i'm glad to be able to meet with you here again today. [speaking french] >> mr. president, is nafta dead? >> we'll see what happens. we have a tough negotiation and it is something that you will know in the not-too-distant future but we are going to be discussing nafta and we'll be discussing defense because we have a great, these are truly great and original allies and mutual defense is very important. i guess we'll also be discussing mutual offense, which people don't mention too often, but offense is part of defense. we have many things to talk about but nafta will certainly be a big factor today. okay? >> nuclear arsenal?
>> no, i never discussed increasing it. i want it in perfect shape. that is fake news by nbc. which gives a lot of fake news lately. somebody said i want 10 times the nuclear weapons we have right now. right now we have some nuclear weapons. i want them in perfect condition. perfect shape. that is only thing i discussed. general mattis put out a statement or putting out a statement saying that was fake news, mentioned that way. frankly disgusting the way press is able to write what they ever should want to write and people should look into it. i want absolutely, perfectly-maintained which we are in the process of doing, nuclear force. but when they said i want 10 times what we have right now? it is totally unnecessary, believe me. because i know what we have right now. >> want no increase whatsoever? >> we won't need an increase. i want modernization and i want
total rehabilitation. it has got to be in tiptop. [inaudible] >> what changed? >> i don't think anything changed. we're negotiating a nafta today. it is time over the years. it is possible we won't be able to make a deal and it is possible we will. we have a great personal relationship. we have a relationship now, as two countries, i think that is as close as ever. but we'll see if we can do the kind of changes that we need. we have to protect our workers and? all fairness the prime minister wants to protect canada and his people also but we'll see what happens to nafta. i've been opposed to nafta a long time in terms of fairness of nafta. i said we'll negotiate. justin understands this. if we can't make a deal we'll terminate it. they will do well, we will do well. maybe that won't be necessary t has to be fair to both
countries. reporter: do you think there should being limits on the press? >> no. the press should speak honestly. it is not a question of distortion, like the question asked before about 10 times the nuclear capability. i know the capability we have, believe me. it is awesome. it is massive. and so when they make up stories like that, that is just made up. the generals will tell you that. then they have their sources that don't exist in my opinion, they don't exist. they make up the sources. there are no sources. any other question? [shouting questions] we'll decide over next period of time. it will work out with both countries and mexico. reporter: what about the iran deal? >> you will see that very soon. we'll announce that shortly. reporter: [inaudible] free trade with canada?
>> sure, absolutely. it is possible we won't reach a deal with one or the other. but meantime we'll make a deal with one. i think we have a chance to do something very creative that is good for canada, mexico, and the united states. reporter: you want nafta to survive? reporter: how is your relationship with secretary tillerson? >> very good. you mean last week? john, you're so far behind the times? today or last week? today i didn't have lunch with him. i had a lunch last week. we had a very good lunch. we have a very good relationship. the press doesn't really understand that. we have a good relationship. what else? reporter: [inaudible] >> i think i have a little bit different attitude on north korea than other people might have. and i listen to everybody, but ultimately my attitude is the one that matter, isn't it? that is the way it works. that is the way the system is. but i think i might have somewhat different attitude and
different way than other people. i perhaps i feel stronger and tougher on that subject than other people, but i listen to everybody and ultimately i will do what's right for the united states and really, what's right for the world. because that is really a world problem. that is beyond just the united states. that is a world problem. and it's a problem that has to be solved. thank you very much, everybody. [shouting questions] trish: the president there talking to the media alongside justin trudeau from canada. we heard him talk a little bit nuclear arsenal and how that needs to be in quote, tiptop for the u.s. we heard him talk a little bit about his relationship with rex tillerson. we heard him talk about trade with canada saying hey, maybe we could reach a deal with canada. maybe we don't even need mexico. here with his thoughts, republican congressman from new york, peter king. good to see you, congressman. >> trish, good to be with you.
i was hoping you ask the president to wait until i was on. you know how it is. trish: good to see you as always, if you have to get bumped a couple minutes might as well be for president of the united states. congressman, first of all, tell me your thoughts on the iran situation? talking about our nuclear arsenal. we need to make sure it is in tiptop. when you look at iran and south korea and north korea, you look at trouble people there in south korea may be in because of this mad dictator in the north, are we are we going to find ourselves in a situation where we're actually having to think about using a nuclear arsenal? >> we always have to think about the potential of using it. more we think about it, less likely it will be we have to use it. listen we're up against very dangerous opponents. certainly short term with north korea. iran is more sensible than north korea. they're -- right in the long
term. i don't think kim jong-un is suicidal. and i think that the more he sees the president trump is strong, that president trump does have the nuclear deterrent. that makes it less likely we have a war. just over the past few weeks, ever sips the president gave a speech at u.n., for first time we've seen some real progress involving north korea with china, again for first time, talking about imposing real sanctions on north korea. now they have to follow through. this is the furthest they have ever gone even discussing possibility of it. they said they are going to do it. i think president's policies work. it is important for north korea to know, that the u.s. is serious and they will not get away with any type of aggression. trish: by the u.s. being serious, not just us, right? we shouldn't be trading with north korea anyway, also rest of the world, specifically china. i keep hearing china is really the key to north korea. if we want north korea to disarm, china actually has to put pressure on it? >> yeah. by the way china is the key to
north korea. if north korea knows that the u.s. is serious and china realizes the u.s. is serious, the last thing china wants is a war in their backyard. so this puts pressure on them, to in turn put pressure on north korea. so it is all connected here. this is interconnected. complicated world, complicated issue. by us being strong, us leaning on north korea or standing up against north korea, that gives us bargaining wedge we need to have china have them put pressure on north korea, as far as credit, as far as banks, as far as doing business. as far as supplying energy. trish: let me ask you about tax cuts. what is the likelihood this stuff gets done this year? >> i hope it gets done. issue that i have is taking away of the state income and local real property tax. that would be devastating to my district. and to other -- trish: congressman, i know it would be. hey, i like being able to deduct my state and local taxes too as
resident of new york city. i hear you on that. i hear you. but, is it fair? is it fair that you know new york gets to keep part of my income that otherwise would go to the federal government? >> i'll tell you why it is fair. because that new york is what is called a donor state. we give more to the federal government in revenues than we get back. we get 79 cents on doll arela. many other states accuse us getting benefit, they are getting far more than they put in. new jersey, has worse deal than we do, they're down to 61 cents. we get 79 cents on the dollar. california, gets 77. we are don't in states. we're ones subsidizing other parts of country. at least they could give us a a break. just treat us fairly. trish: congressman, i have a feeling you will win on that one. i think there are too many of you from important states that do mean a lot to federal covers. so it is not, you will not see tax reform go anywhere unless
you have all of you guys on board. but again likelihood of it being done this year, are you more skeptical. you say you hope it gets done. are you skeptical about the timing? >> anytime you talk about two or three months, that is very quick for congress. having said that i strongly support supply-side econmics. i support tax cuts. i was disciple of jack kemp going back to the 1970s. reagan tax cuts in '81. that is what turned our economy around. you see benefit of that ever since. by the way with reagan, he went with tax cuts in '81 and larger tax reform came five years later. one way or the other we have to get these cuts. trish: i think a lot of people would really like to see them. congressman king, always good to see you. >> good to see you, trish. trish: 18 people are dead as wildfires in northern california continue to spread. our own hillary vaughn is in napa valley. she has the very latest for you
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trish: fire officials calling damage caused by wildfires across northern california, pure devastation. at least 3500 homes and businesses have been destroyed, by these fires, which are spreading over a 200-mile region, including the wine country there. at least 18 people are dead. new evacuation orders are in place today as authorities say the risk remains extreme. for new fires to start. none of the 22 major wildfires burning north of san francisco have been contained. our own hillary vaughn is there live in napa valley. hi, hillary? reporter: trish, firefighters are struggling to get containment of the 22 wildfires. so far 170,000-acres have burned. i want to give you snapshot some of the carnage that the fires are leaving behind. to my left you can see, we're at a winierry in napa. you can see fire burned through,
taking out plants, leaving a black ash behind. and then, if you follow the path of the fire, you can see the tasting room behind me is reduced to rubble. all of this has to be cleared out and built back up again. heavy snoke is setting over vineyards not touched by fire. that white haze is all smoke con thinking to build up throughout today. we talked to several residents who have not been able to get back into their homes. i saw people that i saw yesterday, dressed in same clothing in the same spot, trying to survey some damage. here is how they described the evacuation process. >> it is funny, we've been watching people in evacuation centers in texas, florida, puerto rico, our hearts are broken for these people. little did we know we would be in one too. reporter: what did you have time to grab?
>> nothing, nothing. we probably would have had more time, when you're in a canyon looking up, fire is pretty intimidating looking up at it. reporter: we talked to a winery president dan depaul low just moments ago. he says he is very lucky because his vineyard wasn't touched. but one of their tasting rooms experienced some structural damage. he says in one week they bring in about $100,000. he is confident they will be get back up and running in a few days, once they open up the access roads. that winierry is neighboring winery we're at today. here is dan explaining the fires he put out himself. >> as you can see the hillside behind us, and next signorelli next door, pretty much destroyed. it is that close. we're just lucky people. reporter: he told me they are going to harvesting grapes tonight. because they still have some on
the vine that need to be picked. 70% are away in tanks for the 2017 vintage. there are still some on the vine, trying to get those done tonight, despite the fire still waging. trish. trish: it will be tough on the wine industry. thank you so much, hillary. harvey weinstein, everyone, caught on tape apparently admitting he groped a 22-year-old model. she went to the police. so why the heck wasn't he prosecuted? the da trying to say he didn't have a case. we have the tape. we have the details next.
model. listen to this. >> you must come here now. >> no. >> please? >> no, i don't want to. >> i'm not doing anything with you, i promise. >> i'm sorry. i -- yesterday was kind of aggressive for me. i need to know a person to be touched. why did you touch my breast? >> come on. i'm used to that. >> you're used to that? >> yes, come in. trish: why didn't the d.a. bring a case back then? why did the d.a. said it did not have a case? nbc universal is under fire for purported attempts to delay the shocking expose' by freelance reporter ronan farrow. he went to the bosses that he then published in new yorker, came a day after "the new york times" story on harvey weinstein but his nbc bosses didn't want to run it. here is what ronan had to say. >> i will say that over many years, many news organizations
have circled this story and faced a great deal of pressure in doing so. trish: so why did the story stay buried for so long? joining me to discuss, media buzz host, howie kurtz. good to see you. also point out there, was joke made about harvey weinstein and his indiscretions on "30 rock," that show was so watched for many years. there was also, a joke made by seth mcfarland at the oscars as well about harvey weinstein. so, this seemed to be out there. no one reported on it. >> we now know basically an open secret in movie and media circles, and nbc had this chilling audiotape that you just played, also lots of other evidence and interviews ronan farrow, mia farrow's son collected. i got a statement from nbc news president noland oppenheim, this is what he told the staff. the notion we would cover up for
a powerful person is deeply offensive to all a of us. we reached point until summer where we didn't feel we had all elements to air the story. a few weeks later, incredibly well-documented, well reported story appears in the pages of new yorker. i have to point out since you're a business network there, are a number of business relationships between weinstein's company, nbc universal pictures, nbc's bravo channel, et cetera. trish: interesting. it makes you wonder, was there some concern that this would hurt nbc and its relationship with these various entities somehow entangled with weinstein? in other words, as you look at this, you see there are so many connections people may have been trying to protect themselves and their own interests? >> that is fair question of the as you know harvey weinstein was liberal hero. democratic donor. maybe not attractive target for nbc. if the story in their judgment
wasn't fair, ronan farrow was pretty blunt, work with him. you let him walk out the door. take it to a magazine a great magazine. you basically gave up what is becoming the biggest entertainment scandal in recent years. trish: that is surprising to some people, to us included, right? because ronan was coming to them with what he says was a lot of fact wall stuff and they just weren't interested. so disinterested, he has to take it to a different shop. he is not full time as i understand it for nbc news anymore. he is a freelancer. >> yeah. trish: usually a news organization wants the story, howie, and they want it first, if they get wind anybody else is working on it they feel competitive. >> yes. these are difficult sessions to make. you have lawyers involved. taking on a private businessman known to be litigious an vin --
and vindictive all of that, "new york times" spent a long time on its piece on weinstein as well. to give up to take it somewhere else shows nbc in the end wasn't dedicated to doing everything they could to expose what we now know was known by lots of actresses and actors in hollywood. lots of people at weinstein company. i think nbc kind of blew this one big time. trish: i say they did. by blowing it effectively became part of the problem. if all these folks are sticking together, what chance does one of these women have coming out trying to expose him? anyway, howie, this is story that will go on for some time. >> absolutely. trish: we'll talk to you more about it, and watch you this weekend on media buzz. catch howie there, every sunday at 11:00 a.m. eastern. mystery surrounding the las vegas massacre continues to deepen. of mgm, owner of mandalay bay, casting doubt on the official
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the investigation into the las vegas massacre taking a bizarre twist overnight. mgm resorts which opens mandalay bay, pushing back the latest timeline of events provided by las vegas police saying quote, it may not be accurate. police dramatically changed their account of what went down that night revealing the gunman shot a hotel security guard six minutes before he went on his deadly campaign. initially police said that the suspect was firing at the crowd ten minutes but stopped after the guard showed up. leading many to hail the guard as a hero. things are not quite adding up. what happened? joining me with his thoughts, former fbi agent and secret service agent dan bongino. this is mystery. why is the mgm pushing back on this timeline? >> this case is mysterious. every single turn opens up more
questions. here is my guess on this i work ad criminal case on federal level, obviously nowhere serious as this, it was a financial crimes case. we had timeline and involved a cash register, and time register and camera and they didn't match up. my guess, the mgm security system, tile -- time stamp on video is not mirroring up with sell phone cameras. trish: they should be able to know when the guy was in and out of the hotel f any place has good surveillance it's a casino, right? yet there are these inconsistencies. i don't get it. >> don't mistake my explanation for an apologizing for them. i'm just trying to explain to you from a law enforcement perspective why i think the misinformation came out and why there are corrections on top of
corrections. it just doesn't make sense any other way. there has to be a, there is disparity somewhere here, trish, on essential piece of video with time stamps. it is either a cell phone video or mgm camera systems not marrying up and when you're dealing with short blocks of time, five or 10 minute blocks of time where the attack went on, it is critical you get the time stamp right. trish: i appreciate your explanation, dan. i'm frustrated with law enforcement and frustrated with mgm, this should be something that is apparent. these cameras should be in sync what they're seeing elsewhere. the timeline should be something you could figure out at least by now. let me ask you this. is mgm concerned for legal reasons and looks as though their security team wasn't able to stop him but maybe had information to stop him and calls were not placed as quickly as they should have been et cetera? are they pushing back on the timeline for legal reasons at all? >> yeah, that is an astute
point. that probably has a lot to do with it here. i mean if you're going to push back the attack now by six minutes, and now apparently looks like the security guard responded first before the shooting broke out. there are going to be obviously in the lawsuits that will come down, we all know that, there are going to be some viable questions about response time and why this wasn't stopped sooner from people who are going to seek, you know, some monetary remuneration for their injuries. that is a very good point. trish: i hope mgm wouldn't do that. a good point but maybe a cynical point. i certainly hope they would not dispute a timeline record for that reason only. i think, we all want to see this in some way get crystallized. >> yeah. trish: dan, do you have anymore theories talking to your source what is happened? >> i think it is fascinating, news broke yesterday how the brother now, apparently is of interest to law enforcement. but that is always a very vague
term. i found that fascinating. the brother was first one to jump in front of cameras, giving a long-winded explanation, defending his brother. i never saw this behavior, et cetera. which in my experience not behavior accomplice or assistants could very well be, may not be, we don't know, but he is definitely of interest now. that is not kind of behavior someone engages in. i found that interesting. addition of girlfriend to some watch lists is interesting as we, given initial reports, you know the brother, we don't know if he knew what was going on. the brother certainly claimed otherwise. that is interesting. the moat i have it is big open question. the second thing, big open question i have with the timeline changing, why did the shooter kill himself and stop the attack so early? he clearly had ammunition to keep the attack going? a lot of open questions. trish: dan, thank you for your insight. u.s. military putting on a major show of force against
: alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. . trish: the thought of war is sending defense stocks soaring, new reports show north korea may have hacked into the south korean military database last
year getting access to pertinent wartime information. how much does kim jong-un know? joining me to discuss, fox news military strategist general jack keane. good to have you here, general. >> good to be here, trish. trish: what do you think he's thinking right now? we've certainly been quite forward in what we have said and our president has said, as has he. what's really going on? >> well, first of all, this administration put the military option back on the table the very first week after president trump was inaugurated when secretary mattis made that announcement in the far east. and ever since that time, all the entire leaders in the national security arena, mattis, tillerson, mcmaster, pompeo, et cetera and the vice president and the president of the united states have been reinforcing that policy decision to get kim jong-un and the chinese in particular to recognize that this
administration is the trump administration, not the obama administration and we're serious. so a lot of this rhetoric is about trying to convince those two leaders in north korea and in china that this is serious. i think china has largely accepted the fact that trump certainly is not obama. he saw that happen when president xi was visiting mar-a-lago, and we conducted a strike against syria based on the use of chemical weapons when the chinese president was there, and the very next day, trish, that that chinese president told president trump that i'm willing to work towards denuclearizing north korea. so in my judgment, that option is on the table and obviously attempting to get the chinese along with other countries, and there's been some positive effort here, we've got a number of countries who have shut off commerce with north korea. shut down embassies and economic noose is getting tighter. and there are some options
here. trish: that's important, general, i've been saying all along, look, i talk to folks like yourself know who a lot more about this than i perhaps could, but the reality is it seems that china is the player here in that they have the intelligence on north korea that far surpasses what we have. so if we want to really influence north korea it's one thing for us to sanction north korea, it's a whole other thing when we say sanction a chinese bank and there's more of that where it came from. right, general? we can do more to put pressure on china. >> no doubt about it. and china knows this, we've advertised to china that if you don't cooperate with us, we're going to sanction you, and they know that's going to happen, and i think that is something they don't want any part of, particularly prior to the president xi's communist party taking place this month in his country, he's going to solidify his power base, he doesn't want his critics saying we have a
problem with the united states that's going to affect our economic viability. they're starting to sanction us, the two biggest economic giants in the world. he doesn't want any of that take place. we're going to see after this is over, are they still tough on north korea as they are right now? remains to be seen. and let's talk about kim jong-un for a second. if the economic noose starts to get tight and the country starts to collapse, a couple of things could possibly happen. kim jong-un could feel i'm in the corner, nothing to lose, and could actually initiate an attack. that is certainly a possibility. second thing that could happen is his own leaders, seeing the collapse that's being caused by their leader could change him out, and that would be a good thing. trish: that would be good. we think it would be good. >> and also china could do very much the same thing in terms of changing the leader out. trish: the good news is we have options here, and we have a lot more power than perhaps some thought we did. general jack keane, good to
have you here, sir, thank you so much. watching a market that's higher, up 21. another day, another record. good stuff. i'll see you on twitter, tell me what you thought of today's show. liz claman sending it your way. liz: you can see the s&p, could see a record close for that index. eye on closed-door meeting between facebook chief operating officer sheryl sandberg on the hill and expected to be grilled by nancy pelosi and steny hoyer about russia and the ads it was able to buy and possibly influence our elections. keep an eye on that. less than three hours to president trump's latest pitch to the nation on the need for tax reform. the president set to depart the white house at any moment headed to harrisburg, pennsylvania where he'll appear before american trucking industry members who will use the speech to vault off his tax plan he