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tv   WSJ at Large With Gerry Baker  FOX Business  August 5, 2022 7:30pm-8:00pm EDT

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my special guest sunday at 10:0. on fox business start smart every weekday from 6-9:00 a.m. eastern for morningings with maria and start your day with us on fox business. that's it for now. thank you for joining me and have a great rest of the weekend and i'll see you again next time. gerry: hello. this week on the "wall street journal at large," nancy pelosi defies china and pays a visit to taiwan. is this bold leadership and defensive freedom or reigns leadings kick that could rebound on the u.s.? job growth in july and democrats are set on hitting the economy on massive new tax in spending bill and arizona to michigan, republican voters endorsed-backed candidates and signal of ascendant populous gop
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or could it spell trouble for the party in november? plus candidates vote to -- canada votes to keep women's rights to abortions. did the fbi protect hunter biden from investigation over his foreign influence pedaling. that's under fire this week. we'll discuss all this and more with our guests miranda devine and more. the public health mandates and nancy pelosi stepped off military aircraft in taiwan and became the most seen yore u.s. official to visit the self-declared autonomous island in a quarter century. the house speaker demonstrating caution against the small risk of spreading a virus that might cause flu-like symptoms and making a willfully provocative gesture that risks a serious escalation and tension between two nuclear powers as taiwan as potential ground zero. no one is challenging pelosi's
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right to visit taiwan, no one except the chinese and once the news of the trip was leaked, there was no way she couldn't go. no u.s. official should ever be seen to vender to chinese communist bullying and international relations in life, there's a difference between having a right and when to exercise that right. it was self-indulgent and seems she's had a yearing to visit taiwan before she probably loses the speakership when her party seems likely gets booted out of house majority in november, it was nonetheless reckless and not only further complicates a torturous relationship between u.s. and china and may help china's leader at a difficult time. this is what you'd expect: loud cries from chinese. >> it will lead to a very serious situation and consequences. >> those who play with fire, nothing good will come from it and those who offend china must
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be penalized. >> we will take whatever we can to respond and to protect the safeguard our sovereignty territory and our response will be very strong and forceful.ful. gerry: now, don't be too alarmed by this rhetoric and china is firing off missiles and live tests denouncing americans and doing all kinds of other things as it likes. but they're not foolish enough to start world war iii over visit of soon to be ex-american politician to their rebellious island and the visit raises problems for the u.s. with no obviously benefits. first it may tempt china getting closer to russia in the new global cold war alliance and bolstering the actions and global hot spots and helping xi jinping and the chinese expert blundered in recent months and the covid lockdowns is causing
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massive unrest and stalling the economy. the economy is in shambles and many chinese refuse to pay mortgages and the real estate firms are going bust in great numbers after a huge property bubble. the visit comes just ahead of china's national people's congress this fall where president xi expects to be nominated for a third term. that outcome is not in any doubt but what better way to silence the growing domestic criticism than find an excuse to bang the war drums with america. the visit underscores at a dangerous time where it's a risky ambiguity of u.s. policy towards taiwan. this country would go to war with china over the island rests on something of a fiction. americans don't seem to be much of a mood to get into a conflict with nuclear armed countries. with the u.s. weaker than it's been for many years, a move like this by the speaker risks tempting china to seize the initiative. it's not actually to invade taiwan and perhaps to place the island in a tight vice.
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pelosi esthete reigns leading cal performance known to be making matters worse for everyone. joining me with columnist miranda divine. let me start with you you, miranda. bold move in defensive leadership oris i can move? >> hi, gerry, you said it very well. this was the height of self-indulgence and self-obsession by nancy pelosi who just wants, you know, a farewell tour to add to her photo opportunities and burnish legacies as being tough on china. this was not a whole of government strategy. she freelanced against the advice of pretty much everybody in the government. you know, it's not about being tough on china, which obviously everybody wants to be, it's about being stupid and at this time when america is basically
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embroiled in the war in europe, in ukraine and when china as you said president xi is heading into his congress where he's trying to get an unprecedented third term and crown himself basically as the next leader, and when he's very happy to have a distraction from the country's economic woes, nancy pelosi played into his hand. now her visit is an excuse for the kind of belligerence that he's keen to do because it's popular at home. i cannot fatment for the life of me why any republican is praising nancy pelosi, other than once she said she was going to do it, she had to go otherwise she was just highlighting american weakness. gerry: let me bright in dewrite. many said it was great and a lot of republican members of congress that were right behind
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her wanting short term want to stand up to chinaand tht is important to stand up to china? >> it's important and it's exposed just how spectacularly hot headed the chinese are and nominate xi jinping for the noble prison of thin skip. nancy didn't show up and lead a protest and lead a mob to burn down mainland chinese buildings in taiwan and went on diplomatic visit overnight and flew home. didn't fly over shanghai and drops bombs or anything. you've got missiles flying over taiwan and you've got these military exercises surrounding the island and it's high time somebody stood up to the chinese that killed a million of us with covid-19 and didn't tell us the origins and they're running slave campto-pes to produce solar panels and camps full of weeingers and it's a monster country and happy to see somebody standing up to them and paying diplomatic prices. gerry: we have ambiguity on
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whether or not the u.s. defense comes to the aid of taiwan in event of conflict and do you think americans would support going to war with china over taiwan? >> absolutely not. no way. you know, this is a really touchy issue. considering that we as de-roy says have not confronted the chinese over covid-19. you can't have this sort of freelance, hodgepodge attitude towards china. we have to have a really careful and tough strategy to deal with them. they are a number one adversary, and i think the government doesn't really seem to have its eye on the ball and the mixed messages coming from joe biden are not good. gerry: we've got to move on. coming up, president biden's new
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tax and spending agenda is on the cusp it seems of senate approval. we'll have the latest when we come back.
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gerry: another strong jobs performance for the economy? july and payroll rising by 528,000 and the month and unemployment falling to 3.5% and the numbers create further uncertainty of the state of the economy. it's conning but inflation is high and strong wage growth in july suggesting that inflation pressures are in fact continuing to increase. democratsseem determined to press ahead with plan for huge tax increase and big expansion in the size of the government. kirstin sinema is ready to sign onto the democrat's $700 billion bill and in a twist they call the inflation reduction act. is this what the economy needs now? deroy, strong job growth, strong wage growth or suggesting more inflation and rate increases and
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democrats have this great plan, apparently, which is to spend billions and hundreds of tax billions. >> it's the inflation reduction act and i think it'll be the inflation expansion act. i've never seen any economic theory saying you fight inflation by spending more money and want $433 billion in more spending. i thought the jocks report was much -- jobs report was a much, much bigger number of employment than anyone imagined and that's good news. on the other side this suggests that the fed is thinking the economy is too hot and we need to cool it down and increase interest rates 75 basis points in september and if that happens, that'll put more pressure on the housing market that's already retrocochleary shaking and positive and negatives and probably more clouds ahead of us than sunshine. gerry: miranda, we've seen this kirstin sinema joining joe mansion and we don't know what the outcome of the final bill will be as we record this and looks they have just enough to get this through reconciliation
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and congress in the next few days. $700 billion tax increase, which they claim won't hurt the economy, what's your take? >> well, the democrats will definitely be doing a victory round and that'll be for all their work trying to play out this jobs growth figure as a big win for them and a justification for their tax and spend plans, which is fueling inflation obviously. but they shouldn't be patting themselves on the back because basically the economy has just bounced back to the pre-covid, pre-pandemic, pre-lockdown numbers. i think it's something like 30,000 extra jobs in the last 2.5 years so that's really nothing to crow about and, you know, real wages are down, inflation is just a damp neron everything and they really have no solution to that other than denying it exists. gerry: deroy, are you surprised that sinema and mansion are
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having held out so long against the build back better plan have seem to come on board and not quite sure the outcome. >> surprised i thought this was dead and so often you think bad legislation is dead in washington dc and springs back to life. we'll see where the vote goes and spending $80 billion of money we don't have for 87,000 brand new irs agents to audit people, litigate, investigate and not just billioning and millions and regular folks watching this program now. call your senators and tell them to kill the bill. gerry: i think people will be delighted of prospect of increased irs enforcement. coming up, trump endorsements make their voices heard in this week's primaries and we'll break down the future of both parties, next.
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gerry: trump already backed candidates came out on top this week in primaries this week. 188 candidates endorsed by the former ft. won primaries and only 14 lost. what does this mean for the party in november? kansas voters handed pro choice advocates a victory in the state opting to maintain a right to abortion in their state's institution. that's proving that the -- constitution and overturning the roe v wade is giving the power over the issue back to the states. we're back with our panel. deroy, you first. the trump-backed candidates are doing well and georgia was one example where they didn't and most of the country they seem to be doing very well. does this mean a populous republican party or do you worry that actually some of the candidates may have a truckment struggle getting elect -- trump struggle getting elected in november? >> i think it shows getting president trump endorsement is
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victory and many have come from behind and got his endorsement and gone onto win. trump tends to back candidates s that are feisty aggressive and say i have a right to be in this office and these people will fight hard for their races and some of them in some places, the trump brand is a bit of uphill battle, but these will be tough candidates that fight hard on the campaign trail and i'm confident about them. gerry: miranda, that kansas voter, deep red state kansas, voted by huge margin to keep the constitutional right to an abortion in their constitution. does this spell trouble for republicans do you think in november? >> well, i think it's more of a warning against overreach and, you know, the supreme court decision as justice scalise said was not about abortion. it was just about allowing the issue to go back to the states to make their own decisions, and there they did so in kansas.
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i think it's more of a warning shot to republicans that on abortion for instance, the democrats get a massive turnout and if moderate and independent voters see that, you know, you're trying to completely eradicate any abortion at all, they won't go with you. the polls show that abortion up to about 15 weeks is pretty much where the american people are. beyond that, they're not comfortable but banning it out right, they're not comfortable either and i think the republicans ought to be mindful of that going into november elections because it certainly is for the democrats a real vote turnout machine. gerry: great, coming up, fbi director ray was grilled on capitol hill this week over the mittization of the fbi and its mishandling of hunter biden investigation. what was his response and how is he going to clean house? talk about that next. >> don't have to explain to the committee and to the country how
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you'll manage this mess. simply put, the fbi's credibility is on the line.
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>> christopher wray before the senate judiciary committee on thursday how fbi officials walk in discredited probes into hunter biden by labeling verify of intel as this information in the november 2020 election.
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christopher wray directly avoided commenting and managed to pivot the dialogue to whistleblowers. >> obviously if there are allegations of misconduct by fbi employees we want to make sure that we get the information so we can use the tools that we have to go after that conduct. certainly i condemn in the strongest possible terms any prospect of retaliation against whistleblowers. >> let take it up with a panel miranda divide you wrote the book on hunter biden and are continuing to work and uncover important new information on his various activities. did we learn anything this week and what do you make where we stand with the subdivided investigation in the criminal investigation. >> we learned absolutely nothing from christopher wray who is a master of smog evasive answers. he told us senators that he had to leave early to catch his
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private plane undisclosed location. he is incredibly arrogant and it's amazing all the questions, very good questions coming particularly from grassley and ted cruz. a blue often. he seems to have no awareness of anything that's going on inside the fbi despite the fact that there is overwhelming evidence with his entire time in office. in fact as director there is all sorts of politicized agent and shenanigans going on under his nose and why on earth for instance there is an fbi analyst who was involved in the russia collusion hoax which christopher wray refuses to call a hoax. he was also involved in suppressing the hunter biden information that was coming in an october 2020. the fbi also gave a fake defensive briefing, basically to
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chuck grassley and ron johnson, the two republican senators in august of 2020 who were uncovering darrell under derogatory information about hunter biden the joe biden's involvement and influence peddling game. the fbi defensive briefing was linked to the media to damage the two senators. it was the defensive briefing that was bogus and that in itself is serious concern about what's going on inside the fbi which christopher wray thinks is not a problem at all. >> the last lack of accountability we have seen somebody scandals around the fbi with the russian collusion hoax that we talk about in the hunter biden issue and yet christopher wray is able to dock the senate and able to bury the questions. were not getting a proper accountability. >> were not he is very evasive and there's a big problem which
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is determined this conflict of interest between the department of justice investigating essentially the president of the united states is the boss of all these people. we need a special prosecutor, merrick garland needs to recuse himself even if he's totally honest and any rules basically on behalf of hunter biden is going to create a perception of insider dealing, favoritism and that kind of thing. if we have a special prosecutor not conflicted in the way that merrick garland is that would be a lot better for this investigation and the overall inner institution. >> miranda you been following this closely and a lot of investigations going on are we going to have to wait until republicans take control of congress in november if they do for a thorough accounting of the hunter biden case? >> i think so and certainly the republicans are showing all signs that there gearing up to be aggressive and subpoena the right people and bring out the right information because above
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all this is a russian wide disease of corruption and it needs to be exposed at the very least and it can lead people to account. let's see how they go. >> thank you very much thank you for taking this on, miranda devine. that is it for this week i'll be back next week with more calm entry at the wall street journal at large. thank you very much. >> welcome to fox nation the broken border crisis, lives summit from edinburg texas. here at the texas department of public safety, less than 20 miles from our southern border. i am maria bartiromo, already this year 1 million illegal immigrants have been caught crossing from mexico into texas. that is the highest number of apprehensions in 36

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