EQUIPMENT, USING A GENERATOR,
ALL THOSE MOVED TO THE UPSIDE
THANK YOU.
DAVID: APPLAUDING 25-K, HOW CAN
YOU DO OTHERWISE.
PRESIDENT TRUMP QUOTE TWEETING,
DOW CRASHES THROUGH 25,000.
WE HAVE DAN MITCHELL, COFOUNDER
FOR CENTER OF FREEDOM AND
PROSPERITY.
HE WRITEN A LOT ABOUT
DEREGULATION, THAT MIGHT BE
IMPORTANT THAN TAX CUTS.
TODD, YOU'RE A LITTLE RELUCTANT
ON STOCK MARKETS.
I HOPE YOU'RE NOT FIGHTING THIS
TAPE, ARE YOU?
I'M LONG IN MY INVESTING ACCOUNT
AND RETIREMENT.
HERE.
CONGRATULATIONS TO DOW 25,000.
I WISH THE CONFETTI WAS FLYING
OVER MY HEAD.
IT IS GREAT.
REGULATIONS ARE GREAT.
THEY ARE CUTTING THINGS DOWN.
BUT WE ALL KNOW THE MARKETS WILL
FIND A PLACE AND A REASON TO
SELL OFF AT SOME POINT.
THERE ARE STILL A LOT OF UGLY
SCENES UNDER THE SURFACE THAT
WILL ONE DAY COME TO PLAY.
DAVID: LIKE WHAT?
>> MASSIVE AMOUNT OF DEBT WE
HAVE TODAY.
WE HAVE MORE DEBT TODAY THAN
2008.
IGNORING.
CONSUMERS CONFIDENT, SPENDING
MORE THAN THEY MAKE AGAIN WHICH
IS ANOTHER PROBLEM.
WE DON'T HAVE JOB GROWTH THROUGH
DAVID: WE'RE BEGINNING TO SEE
WAGE GROWTH.
WE'RE CERTAINLY SEEING JOB
GROWTH.
DAN, TALK ABOUT DEREGULATION.
TAX CUTS ARE WONDERFUL.
I LIKE IT WHEN TAXES GO DOWN.
ON THE OTHER HAND, THE MARKET
STARTED GOING UP LONG BEFORE WE
HAD THE TAX CUT LAW IN THERE.
IT WAS DEREGULATION, 22 CUTS IN
DEREGULATION FOR EVERYONE
ADDITION IN REGULATION, THAT IS
EXTRAORDINARY, IS IT NOT.
>> THERE IS NO QUESTION THAT
BUSINESSES ARE LOOKING AT THE
ENVIRONMENT IN WASHINGTON AND
THEY FEEL THEY'RE NOT GETTING
HIT WITH ONE NEW REGULATION
AFTER ANOTHER WHICH IS HAPPENING
ALL DURING NOT JUST THE OBAMA
YEARS, BUT EVEN THE BUSH YEARS.
SO THERE IS A CHANGE IN
MENTALITY IN WASHINGTON.
IT IS NOT SO MUCH THAT WE'VE HAD
DEREGULATION.
THERE HAS BEEN A LITTLE BUT THE
MAIN THING, I THINK IS JUST THE
FACT THEY'RE NOT GETTING HILT
OVER AND OVER AGAIN.
YOU COMBINE THAT WITH THE BIG
CORPORATE TAX RATE REDUCTION, I
THINK YES, THERE IS A BETTER
BUSINESS ENVIRONMENT.
NOW I DON'T DISAGREE THERE COULD
BE A BUBBLE.
YOU KNOW, MARKETS WHEN THEY GO
UP, SOONER OR LATER THERE IS A
CORRECTION.
BUT I THINK SOME OF THESE
FUNDAMENTALS IN THE ECONOMY ARE
GETTING BETTER BECAUSE POLICY IN
WASHINGTON ISN'T AS BAD ANYMORE.
DAVID: YOU KNOW WHAT, GETTING
BACK TO TAXES FOR A SECOND.
PAUL KRUGMAN EMBARRASSED HIMSELF
ONCE AGAIN.
NOT ONLY MADE THE WORST
PREDICTION OF THE STOCK MARKET
ON THE NIGHT OF ELECTION SAYING
IT WOULD GO DOWN AND NEVER
RECOVER.
SAY WHAT, DAN?
>> I THINK HE MUST BE SMOKING
SOMETHING REALLY FUN.
MAYBE HE HAD A BIG
NEW YEAR'S EVE BENDER AND IT
HASN'T ENDED YET.
BE HONEST ABOUT IT, PLACES LIKE
HONG KONG AND SINGAPORE HOW FAST
THEY GROW, NOT JUST YEAR AFTER
YEAR, BUT DECADE AND DECADE,
COMPARE THAT TO THE ECONOMIC
STAGNATION TO PLACE LIKE FRANCE
THING THAT MATTER.
TAXES, MONETARY POLICY, TRADE,
YOU NAME IT.
IF YOU'RE A BUSINESS AND
INVESTING IF YOU'RE AN INVEST
TORE YOU LOOK AT AFTER TAX RATES
OF RETURN.
TAXES MATTER A LOT.
DAVID: TODD, DON'T YOU THINK IN
2018 WE'LL SEE A BIG INCREASE IN
INVESTMENT BECAUSE OF THE NEW
TAX LAW?
>> I THINK THERE WILL BE MORE
INVESTMENT.
I AGREE WITH YOU THERE WILL BE
GOING INTO BONUSES AND BUY BACKS
GROWTH SO WE CREATE SOME REAL
JOBS.
BUT THE REAL THING WE NEED IS A
LITTLE BIT OF HIGHER INTEREST
BECAUSE THEY PAY THE BEST WAGES,
WE REALLY CUT OUT.
DAVID: WE HEAR FROM A LOT OF
CEOs SAYING THEY WILL INCREASE
CAPITAL EXPENDITURES A LOT.