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tv   Mornings With Maria Bartiromo  FOX Business  May 10, 2024 6:00am-7:00am EDT

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♪ ♪. maria: good friday morning everyone. thank you so much for joining us is morning. i am maria bartiromo friday may 10. your top stories right now, 6:0. markets capping off the week in the green, investors are looking ahead to next week's key economic data with a buy, the dow industrial off 118, the nasdaq up 87 and s&p 500 higher by 20 points of ahead of the april cpi out next week april ppi bird enterprise indexing consumer price index next week, we have the preview right here today, the federal reserve stands on rate cuts this year, european markets are also higher, take a look at the eurozone as we see the s&p 169, cac 4065 index higher by 127. in asia overnight green across the board, the best performer hong kong, hang seng up to a
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third%, back at home president biden facing a new impeachment threat in the house after saying that he will hold back already congressionally approved weapons to israel. we are talking about it, the impact, high-stakes drama during president trump's new york city has many trial as prosecutors change strategy after adult actress stormy daniels performance on the stand, joining the conversation to lonski group founder john lonski, republican strategist jonathan madison and cheryl casone. "mornings with maria" is live right now. ♪. maria: time for the hot topic of hour, president tr hush money tl
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date 15, denying trump's request for a mistrial and a modification of his gag order, that was denied as well trump's team claiming he should be able to defend himself against stormy daniels solution in pre-judicial testimony, trump blasting the judge yesterday again. >> this judge, what he did and his ruling was a disgrace, he is a corrupt judge and totally conflicted and i have to get back into the campaign trail, i'm not supposed to be here, we're so innocent there's never been anything like it, every single legal analyst, i'm innocent and i being held in this court with a corrupt judge who's totally conflicted, take a look at this conflict is a disgrace to the city of new york, to the state of new york into the country. maria: during testimony, daniels claiming part of the reason that she entered a nondisclosure agreement was for her own safety but she was happy to take the
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money as an added bonus, she also said that she's made money off of this story throughout, prosecutors say that they will no longer call former playboy model carol mcdougall as a witness, jonathan madison, welcome, your reaction. >> i tell you exactly what the prosecution is no longer going to call mcdougall, i appeared in court about three days out of the week is my profession and i took my son to the circus a month and a half ago and that's resembled far more of the la latter, stormy daniels is talking about how her boyfriend thought she was too arranged, she's talking about how she used to communicate with dead people for a fee and out of that was adjusted for inflation, these things have absolutely nothing to do with falsification of business records and here's the risk to the prosecution, the
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risk is as we learned from harvey weinstein if you allow all of these other bad acts that had nothing to do with the church itself, the whole case is right for appeal so we learned the court of appeal overturned the harvey weinstein case, the prosecution made a unilateral call to say stop all further testimony in this direction, this is dangerous for the prosecution. maria: that's a very good point the other point the critics of this are making that there's a bit of coordination underway with the former director of national intelligence john ratcliffe who pointed out that some of the das whether it's fani willis or letitia james or michael who used to work the d.o.j. they had meetings with the white house counsel before trying to take down trump, watch this. >> this lawsuit campaign is the
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most unlawful and unconstitutional political persecution and instance of election interference that hopefully any of us will see in our lifetime if there's not one, not two, but for criminal indictments all brought by democratic prosecutors and blue states or blue counties or by his opponents the part of justice, it's absolutely out of bounds and out of coordinated but is also failing. >> coordination, what do you think. >> let's remind your viewers once again the alvin bragg ran for manhattan da that he was getting doctor donald trump into other jurisdictions denied, number one, number two he's had three weeks and is still not gotten any closer to proving his case then he was three weeks ago at the start of this this is been a waste of time stormy daniels was salacious and had nothing to do with jonathan's point which is financial crimes and the falsification of business ended second tragedy
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has to prove of the election interference. he hasn't even touched any of that and the star witnesses michael cohen and were supposed to believe michael cohen's testimony would is already been to jail, michael cohen already went to jail and serve time and were supposed to believe him, he is over his keys and this is all going to come up and appeal if the former president is convicted. maria: i think there is another goal and that's to muddy up president trump, put in as much salacious data and information so people sour on president trump at the public opinion and i think that's also part of this to muddy up his name then there's hilary clinton here she is again former secretary of state fuming over trump's trials being delayed out of the november election warning voters that might not be informed, watch this. >> justice delayed is justice
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denied and the people in our country it looks as though will most likely go to vote without knowing the outcome of the other very serious trials and the one that is going on now currently in new york is about election interference and it's about trying to prevent the people of our country from having relevant information that may have influenced how they could've voted in 2016 or whether they would've voted. >> how rich is that after this from the woman that came up with the russian collusion narrative and pushed it through the fbi and the cia. >> is so hypocritical, i'll tell you the average american looks at the trials as being politically motivated and you're on a very dangerous path when you begin to politicize justice, that is dangerous, that is scary
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and it reminds us of the banana republic in east germany and so on. >> were to talk about that kevin hassett had something really interesting to say about that how investors might view the banana republic. we will get to that were just getting started will slip in a short break a big week of economic data it's all in on cpi and ppi that's what investors are waiting for, the april numbers are out on wednesday one federal reserve presidents as restrictive rates need more time to work institutional services director is here when we come back, you're watching "mornings with maria" live on fox business. stay with us. ♪ ♪ ♪
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maria: welcome back take a look at treasury yields the tenure is flat at 4.45% right now san francisco federal reserve president mary daly signaled the interest rates need more time saying we are restrictive but it might take more time to bring inflation down, considerable uncertainty about what the next few months of inflation will be and what we should do in response, joining me tj institutional services director, great to see you thank you so much for being here, here what she is saying about inflation that makes next week cpi number that much more important what you expected from the cpi next wednesday. >> the reason is huge we've been waiting for the economic picture
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to deteriorate and over the last month we got 1.6% gdp in the labor data in the last year came off poorly unless you think second and third productive full-time jobs, now they have the economy that is actually falling in the government spending like drunken sailors, but there's one other thing that's not talked about very much that is the confidence in our treasury to fund the government the last seven or eight options five of them have gone poorly. to underscore what i'm talking about two weeks ago the fed actually eased a lot of people say it's not in ease, the cutback the quantitative of 35 billion to $25 billion that has to be a signal of the treasury. maria: use a three and half% is a new 2%, what does that mean. >> it means the whole investment
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thesis could be shifting were at a 30 year period of lower interest rates and deflationary. growth was the way to be and that was evidenced by the nasdaq in the top ten nasdaq stocks carrying a heavy load for so long now were going to. with 30 to half% is the new normal and it's going to be assets to do better and we could be at the beginning of a huge shift of the best things over the next year and over the next 20 years. i started switching everyone owns all those big tech stocks. i'm not suggesting but now gold, copper, silver even bitcoin are places to be instead of those, the fed is in a pickle and i think they're leaning toward easing even though inflation is strong in the gold market in the silver market are telling you the same thing.
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>> you say looking ahead to november inflation is not going away regardless of who wins the selection, and a trump presidency we may avoid stag inflation and i will usher in a business friendly climate in terms of the two different policies. >> there's no question about it if you look at the biden presidency over the last year supply is going higher not lower underscoring how much money they're spending, at the same time heavy regulation of presidency and administration the trip administration you shown in the past and he likes to spend a lot of money, this is conversations i had in 2017 through 19 were racking up debt didn't seemed like any reason to. i hope he is a different attitude and wants to cut back spending and really rain and inflation but i have a high confidence level than. maria: james i don't know if wall street or investors are paid attention to this trial in manhattan right now in terms of
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president trump, but i spoke with the former chairman of the council of economic advisors kevin hassett this week, he had an interesting perspective on what would happen to treasury yields if in fact the market watched trump in handcuffs going to jail over this gag order. watches. >> if you look at the case of new york the judges so and democratic and unconstitutional because president trump it looks like there's a conspiracy put in jail to put behind bars in a president trump is in chains going to rikers island, would you want to buy the u.s. treasury the next day and the thing i'm worried about short-term rates for the economy the democrats are serious about the lawsuit and if they succeed imagine we become a banana republic the moment they take them to rikers and i can imagine what happens to treasury market sunday. maria: is not an issue, what do you think. >> is an issue but this much of an issue the world needs are get at the moment and that's a
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reflection the other central banks are doing more ridiculous true chips of the currency than we are. they still need our treasuries. i like what he saying we have to worry for decades how some people would rather invest in india then china based on the rule of law that we understand a lot more if the rule of law from this country as a 80% there just with the progression of legal battles that trumpets had to deal with. at this point in time it might sound really weird and i want to see him in handcuffs just so people could see how ridiculous this looks in real time this is a level of fascism and banana republic stuff and i don't understand how anybody can see that it's not political. maria: were watching markets anticipate inflation because we had three straight months of elevated levels and i recognize it's come down from the 9.1% to 40 year highs. in an interview this week joe
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biden claimed he's done so much to take inflation down and you said inflation was at 9% when he walked into the office, which is not true. >> no president has had the run in terms of creating jobs in inflation, it was 9% when it came to office, look at the michigan survey for 65% of american people think they're in good shape economically and the strongest economy in the world. >> let me be clear when joe biden walked into the oval office, the cpi was at 1.4%, you know this 1.4% is when he started and it went up to 9.1% because of all of the reckless spending and even though it is back down you are still talking about inflation of 19% on biden's watch, how much higher will ago or are you expecting it's actually common.
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>> i'm expecting the 3% range, doesn't seemed like decades ago politicians were not trustworthy would try to pick something that was true that they can take out of context to make it seemed like they do it a good job, this underscores there's not much in the bidenomics plan so they have to lie about things. he said he gives bidenomics and f annette also anyone else would he do that. maria: by the way couple that with growth which has come down to 1.6%. james comer we see the backdrop, how do you want to allocate capital in the backdrop, you see the will to walk away from high-tech, big tech, what he wanted you. >> i want to nudge away from big tech i made some moves in there but i think things like copper is doing well, oil, all the nonsense from oil with the technology that doesn't exist, oil is coming back in its coming back huge and were pumping
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record numbers and is probably reflective of policies 5 - 7 years ago and no exploration or drilling in some of these are very old, i think oil is a great place to be, gold is a no-confidence vote in stewardship of our currency and i think that's the appropriate vote copper, silver, i'm moving more towards those things. >> it to see you this morning, thank you so much. we will catch up soon. james james iuorio joining us. a life picture of the university of pennsylvania, we are more protests underway at ten night now and this is life picture and the police are on the scene interesting happening at the university of pennsylvania. after protests were underway in philly at the university of pennsylvania. working to take a short break and come back, these investor
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happening as we speak a life picture right here at the university of pennsylvania as these protests continue across the country on college campuses, protesting you penn's relationship with israel and demand either making demands of change in the relationship. we'll take a break, president biden faces a new impeachment two and the house after he said he's going to hold back the congressionally approved weapons to israel, michigan congressman john james is here with reaction you are watching "mornings with maria", live on fox business. (♪) (♪) (♪) (♪) (luke) this will be a gold mine of local intel. just you wait. (marci) right.
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it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. maria: welcome back we have breaking news take a look at the pictures of live shot of the university of pennsylvania where arrestor happening right now. as you can see the protesters are at the school and police are putting handcuffs on the protesters they have rules in place they broke the rules and now they are arresting these folks we will see how many are students, how many are outside agitators this is happening at the university of pennsylvania indicated the college protest and the campus unrest is not over even though we've been focused on mit and harvard, we have a situation underway right now at the university of
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pennsylvania, house republicans are preparing impeachment articles against president biden to cut off aid to israel and making an ultimatum to israel saying he will cut off weapons supply if israeli forces invade rafah israeli prime minister benjamin netanyahu said israel will stand alone if this is necessary, here is spokesperson matt miller on biden's decision, watch. >> we pause one shipment and were reviewing others, as a president make clear we will always be committed to israel's defense and committed to helping israel defend itself against hamas, hezbollah, the threat from iran and other terrorist groups and malign actors but will we lookup a potential operation and rafah the president make clear the vernacular provide certain weapons that they could use in such operation. what is he talking about we will
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provide aid to israel except when they're in the middle of the fight to their lives michigan congressman john james the house foreign affairs transportation and info structure committee an iraq war veteran, thank you for your service to our great country and when you hear things like that as a veteran yourself in iraq, what do you say at this moment in time that the u.s. is holding back weapons to israel during the fight of its survival. >> is naïve of the administration and it cowardice in the face of the enemy with malicious trained by everyone in the only thing that these terrorists understand as a warhead to the forehead this is negotiated with terrorist and that leads to more american lives in danger, under this administration it's open season on america and i'm old enough to remember when we didn't negotiate with terrorists the
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only people we were negotiating through the trouble administration was normalizing relations between arabs and the israelis what we were doing was moving the embassy from tel aviv to jerusalem we were doing things to cause peace in the middle east under president trump's leadership because the world respected the united states of america under this confused old man the world is backing away from america and americans are less safe. maria: i think this is becoming a redline for jewish voters and even independent voters, they see now is not the time to hold back weapons to israel especially in the face of all of these protests underway we have live pictures at the university of pennsylvania protesters on the ground again and they're fighting to stop any relationship between the university of pennsylvania and israel and now is the time the joe biden says were not concerned weapons there does that suggest you siding with the protesters were being arrested
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right now? >> the liberal professors have been so weaned these seeds of chaos for decades and now were surprised they have been teaching generations of young kids that the constitution is broken in capitalism is evil and now were surprised when they chant death to america i'm telling you our enemies are so weaned the seeds and reaping the harvest the reaping the harvest from the seeds that even sound from the liberal cancer administration and don't know how the real world works. frankly if the agitators were willing to wake up and work as hard with the labor shortage that we have in this country than they probably would have more money in their pockets and they probably would not be out there causing failure for universities these are being funded by our enemies iran and russia and we need to open her eyes joe biden is more beholden
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than he is to the united states of america. >> white house communication advisor john kirby is doubling down on biden's ultimatum he is adding his own views on how rafah and innovation would affect thomas, watch this. >> is a president was crystal clear last night that if they do smash into rafah and invading a major way he's going to have to make decisions but we hope it doesn't come to that. our view that rafah operations with any kind of major rafah ground operation with strength thomas' hands at the negotiating table, not israel's. maria: congressman what about that you know the situation and you know what voters in michigan are saying we hear from the israeli side the terrorist hamas
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fighters are in rafah, are they there or not. >> hamas terrorists are everywhere but the homebase is in rafah that's only place i have to go in israel still remembers october 7 the rape and murder of women. they still remember the largest killing of jews since the holocaust, here's the thing they would only negotiate if they only felt that they were losing but when you see america backing away from israel and teaches hamas in the terrorist that they are winning joe biden in a administration of teaching they are winning. what also they have to go one the policy from democrats from the iran nuclear deal to give an example use of dollars that funded hamas in the first place to not enforce sanctions that congress are ready has in addition to withholding weapons,
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joe biden told thomas is on the side of iran told thomas is on the side of thomas and we absolutely must change the pack now. >> a lot of critics are saying the reason that the biden administration is doing all of this and pushing back on israel is afraid that they lost the pro-palestinian vote you are in michigan i want you to tell us about the constituency there, do you feel that some michigan voters are mad about the israeli situation and he lost the pro-palestinian vote this is not even about the wherewithal of the weapons and what israel needs is about joe biden losing the pro-palestinian vote in michigan and minnesota. >> it's tough to see the politically motivated joe biden is good at one thing how do you nail the jewish voters and
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muslim voters he is literally that bad the reason the most ticked off is the policies are failing his policies because inflation that pushed inflation to high and joe biden cares more about keeping his power then standing by our allies and that should be disqualifying for reelection. maria: that's quite discouraging, good to see you. we will keep on it john james joining us in michigan. we'll be right back. honestly, i was scared when i was told age related macular degeneration could jeopardize my vision.
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maria: breaking news, take a look at the live pictures from the university of pennsylvania where we had more protesters this morning and the police are on the scene and they are making arrest, we see tents, people
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there on the ground getting handcuffed as police make arrest earlier we saw more of the same of what we saw another college campuses that is statues being defaced with palestinian flags we saw that he get at the university of pennsylvania and now were watching the police takedown protesters, put handcuffs on them and the rest them arrest being made as we speak at the university of pennsylvania on the heels of more protest we want to zoom in and find out who is there and find out if it students, faculty or outside agitators here's what looks like a student, handcuffs walking to the police trucks in this morning's protest at the university of pennsylvania, the commerce department adding 37 chinese companies to the trade restriction list yesterday over their support of china's spy
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flight which you know the spy balloon flew across the united states before beijing before the united states finally shouted down joe biden about the spy balloon to fly throughout much of the country all the way to the carolinas as it took information from the military installation and sent it back china's foreign ministry is slamming the move same beijing opposes the abuse of export controls the u.s. revoking licenses which allowed intel and qualcomm to ship ships to huawei for using the phones and laptops joining the hudson institute senior fellow alice organization founder and the author of china's vision of victory jonathan dt ward, good to see you take this on for us and explain why this is so important in terms of shipping chips to huawei i talked about huawei on this program be the communist party of china's main surveillance tool and now we
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have the administration doing something do you think it is enough. >> a surveillance tool other than tiktok we started going after huawei 2019 and 2020 and that's when it ramped up and putting a whole bunch of subsidiaries and affiliates on the list and restricting technology from the united states to huawei except through having an export license what happened license were granted to some u.s. chip manufacturers and while we was able to take off release new handsets and laptops and therefore the company has really come back in a massive resurgence in the revenue at the end of last year was $100 billion which puts us squarely on the global fortune 100 we never finish the job with this company in u.s. exports are very powerful if exemptions are not granted i think that's what has to be done at this point, we
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can still restrict technology that chinese corporations depend on the chinese industrial depends on science and technology in the corporations with strategic and emerging embassies, although a lot of it depends on u.s. chips in u.s. technologies and they cut the flow pretty dramatically and for willing to use it we can cripple these again then we have to do that huawei is not only a history in relationship with the ccp established it's a major r&d and technology center for the people's republic of china and the entire science and technology and enterprise is at the heart of china's vision of victory in the long-term objective is no longer long-term this is happening but their objective of overtaking the key industries and we can stop that we have the tools we need to use them. >> my problem with this even though certain companies on the entity list they are trading in the u.s. there still in u.s. index funds and i would like to
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know why if there on the entity list does not mean there off-limits? we still have investors funding the expansion of communist china in the white house doing nothing about it. when you say we started getting on huawei what the rules were any new contracts or stop but anything in place stayed so if all we had contracts in place wires in place and anywhere else in the u.s. doctor not get affected, am i wrong? >> were trying to get them out of the united states but will get africa more broadly and as a company and to destroy a chinese corporation in the distinguishing feature with china we have to go after the battle units in the grand strategy which other strategic corporations whether state owned or state back like huawei there
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are a lot of things you could do, one you can restrict technology it's a great toolkit into restricting the market access not only the united states but alliance system you take a company like huawei in their step into new business outside of telecommunication cloud and autonomous into cars and they see a massive expansion on the horizon in the asia-pacific and latin america, africa they have a global market strategy that we have begun to address, we have to take on the company's access to capital and technology in global markets not least of the alliance system and there's a lot we can do, bytedance i would like to send the strike package on that one and we can play hardball in the whole target is impairment in the china corporation in state bar corporation they are all over the national strategy in the people's republic of china
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and it would be extremely robust thing to do and we could do a lot. >> the chinese communist party is playing hardball and it's criticizing the u.s., the navy destroyer through the taiwan strait less than two weeks before taiwan's president is inaugurated it's also accusing the u.s. of having publicly hyped the passage of the uss halsey, your thoughts on this as we know that china has been aggressive in his support for russia in the war on ukraine also has not been held accountable for that and it's pushing back on the u.s. sending the ship through the taiwan strait ahead of the inaug inauguration. >> i think this is a pretty standard issue freedom of navigation operation so it's going to international waters in the u.s. navy and indo specific command and regular basis emphasize that these are international waters will
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continue to operate in the international law permits. and on the other hand there are going of the pacific command and the admiral of the indo pacific command admiral have both given a powerful statement to america telling us in this building a military force with the intention of being able and capable of invading taiwan in 2027, apparently there on track to do that we have been warned pretty clearly by our military leaders in a very good letter written by the incoming chairwoman of the house committee by the ccp and the secretary of the air force and the secretary of the navy explaining the vulnerability of our basis in the pacific and say we need to act on this and we talked about this the other day
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most people get that the ceos of america and most ceos are looking at china as a best business opportunity and i spoke with craig brown the chairman of motorola solutions the other day and the thoughtfulness as far as the threat of chumming it under communist china he is suing a chinese company and to intellectual property threat here he is with me. >> motorola had three half-billion of revenue in china and 15000 employees today we have no revenue and 50 empl employees. after these infractions going back a decade and a half ago we made the decision get out of china is not a productive market they don't play on even terms the communist party leaves the theft of intellectual property and patents so the addressable
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market of 66 billion that we pursue for public safety and national security is zeroing out china we left that market. maria: you know i wrote about the motorola story in my book the cost and he had up close and personal experience with the theft from communist china your reaction to get out of china. >> this is the standard playbook, then invite you and strip your technology, produce national champions, push you out and go after global markets this is can happen to elon musk and tesla in any company that has a clear exit strategy from china and now only putting their own company's future in jeopardy but we could have a major market event by the time u.s. corporations who have not mitigated the china exposure in the chinese equity market they're not coming back, u.s. corporations are too much china exposure and now is the time to
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get out to de- risk and find your way out of this problem, if you're betting long on china secure company that's good to take a hit in the 2020s and i think investors need to see that and understand and wall street needs to push her ceos to have the freedom to maneuver out of this problem. >> ceos need to know what john ratcliffe told us a long time ago the strategy of the ccp rob, replicate and replace, that is it thank you, always a pleasure, jonathan dt ward, we'll be right back.
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when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage
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on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi with xfinity. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks
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that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. maria: welcome back a developing story we want to show you a breaking news and the like pictures coming out of the university and pennsylvania cops are on the scene taking down the encampment, look at all the tents arrestor being made right now the university of pennsylvania into israel campus encampment as outside agitators are still causing chaos at american college will enter colleges, cheryl casone it with the very latest. >> were following what happened at u penn there's also practice happening right now at mit and were following those protests that well in gwu refined you now
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33 people arrested in encampment set up their and six of them are at the university weapons were discovered at the encampment including several items including rocks and plywood and a weapon in the encampment no firearms were recovered that's according to officials and at cornell university in new york, university president announcing her retirement as protest plague got school as well and it's to start a new chapter in announcement was a result of unrest at that school. border patrol officials confirming to fox news that shots were fired from a mexico side in the el paso area luckily no injuries were reported, the el paso field office telling the shooting is being investigated in a statement they are saying this the fbi violent crime task force working closely with the custom and border protection office, professional responsibility on an assault on
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investigation, ongoing investigation of further details will be given at this time, listen to this and el paso judge dismissing 211 cases against migrant remember the video where they charge the border on march 21 the new york post video they were trying to push their way into the rest by ripping down razor wire and assaulting troops the texas judge says he lacked jurisdiction and he throws out the cases and the da is disagreeing. >> it does not matter a person's immigration status it does not matter if there from this country were not if you break the laws of the state of texas in particular in the riot cases and future street property in you endanger lives you will be held accountable. >> the migrants face misdemeanor charges that could annex penalty
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of 188 days in jail up to a $2000 fine, they are off, nothing happened to them. maria: unbelievable, that is the story of lawlessness in america, thank you. we have more on that story in the developing story underway on college campuses you heard cheryl on mit ally picture covered under the university of pennsylvania we will go there. you're watching marty to gloria live on fox business. stay with us.
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