IT'S ♪ ♪
>> LAST YEAR THE REPUBLICANS
HANDED GM A WINDFALL OF
$150 MILLION IN THEIR TAX BILL.
GM COULD BRING BACK MONEY FROM
OVERSEAS, THEY SAID THEY WOULD
DO IT AND EMPLOY PEOPLE.
THEY ARE BRINGING BACK MONEY
FROM OVERSEAS BUT THEY'RE NOT
EMPLOYING PEOPLE.
>> IT SEEMS LIKE GM WOULD RATHER
BUILD ITS ELECTRIC CARS IN CHINA
RATHER THAN IN THE UNITED STATE
UNITED STATES.
WE ARE GOING TO BE LOOKING AT
CERTAIN SUBSIDIES REGARDING
ELECTRIC CARS AND OTHERS,
WHETHER THEY SHOULD APPLY OR NO
NOT.
>> Bret: AS THAT WAS GOING ON
AT THE WHITE HOUSE THAT FOR A
PRESS BRIEFING, THE PRESIDENT
WAS TWEETING ABOUT
GENERAL MOTORS SAYING "VERY
DISAPPOINTED WITH GENERAL MOTORS
AND THEIR CEO FOR CLOSING PLANTS
IN OHIO, MICHIGAN, AND MARYLAND.
IF NOTHING BEING CLOSE TO MEXICO
AND CHINA.
THE U.S. SAVED GENERAL MOTORS
AND THIS IS THE THANKS WE GET.
WE ARE NOW LOOKING AT CUTTING
ALL GM SUBSIDIES INCLUDING FOR
ELECTRIC CARS.
GENERAL MOTORS MADE A BIG CHINA
BET, DON'T THINK THAT BETTE IS
GOING TO PAY OFF.
I AM HERE TO PROTECT AMERICA'S
WORKERS.
"IF YOU LOOK AT GENERAL MOTORS
STOCK IT TOOK A TUMBLE JUST AS
THAT TWEET WAS COMING OUT, IT
RECOVERED A BIT LATER IN THE
DAY.
JUST A FEW MINUTES AGO
"THE WASHINGTON POST" RELEASED
PART OF AN INTERVIEW IT DID IN
WHICH THE PRESIDENT SAYS HE'S
NOT WORRIED ABOUT A RECESSION.
"I'M DOING DEALS AND ARE NOT
BEING ACCOMMODATED BY THE FED.
I HAVE A GUT AND MY GUT TELLS ME
MORE THAN ANYONE ELSE'S BRAIN
CAN EVER TELL ME.
"HE GOES AGAINST A FEDERAL
RESERVE CHAIRMAN, HE SAYS SO FAR
I'M NOT EVEN A LITTLE BIT HAPPY
WITH MY SELECTION OF JAY, I'M
NOT BLAMING ANYBODY BUT I THINK
THE FED IS WAY OFF BASE WITH
WHAT THEY ARE DOING.
LET'S BRING IN OUR PANEL.
JONAH GOLDBERG, MARA ELIASSON,
NATIONAL POLITICAL CORRESPONDENT
OF NPR, AND KATIE PAVLICH NEWS
EDITOR AT TownHall.com.
THERE ARE A LOT OF THINGS THE
PRESIDENT DOES, TWEETS, SAYS
THAT OBVIOUSLY DON'T TRACK WITH
WHERE OTHER PRESIDENTS GO.
ATTACKING HIS FED CHAIR HAS BEEN
ONE OF THOSE.
>> MANY PRESIDENTS ARE
FRUSTRATED BY THEIR FED CHAIR,
WHETHER THEY DO SOMETHING ABOUT
IT IS ANOTHER MATTER.
THIS IS THE MOST FRUSTRATED HE'S
BEEN, HE WANTS EASY MONEY HE
DOESN'T WANT INTEREST RATES TO
GO UP.
HE DOESN'T WANT THE RECOVERY TO
END, THAT'S WHAT HE'S WORRIED
ABOUT.
>> Bret: DOES HE HAVE THE CASE
THAT THE FED IS ACTING TOO FAST?
>> THAT'S ABOVE MY PAY GRADE.
I THINK THERE ARE SOME PEOPLE
WHO THINK THEY ARE BUT JAY
POWELL IS TRYING TO FOLLOW IN
THE CAREFUL FOOTSTEPS OF
JANET YELLEN TO MANAGE IT SO
THERE IS NOT INFLATION WHICH
HASN'T BEEN A PROBLEM IN A VERY
LONG TIME BECAUSE THE FED HAS
GOTTEN GOOD AT THAT.
IN TERMS OF YANKING SUBSIDIES
FROM GENERAL MOTORS, YOU WANT TO
YANK SUBSIDIES FROM EVERYBODY
BUT TO PUNISHED GENERAL MOTORS
BY TAKING AWAY THEIR SUBSIDIES
THAT SOUNDS LIKE CRONY
CAPITALISM IN THEIR WORST, THE
SAME THING THAT REPUBLICANS AND
CONSERVATIVES ARE SUPPOSED TO
HATE MORE THAN ANYONE ELSE.
>> Bret: NOT A TRADITIONAL
ACTION, MENTIONING SPECIFIC
COMPANIES IN THIS ACTION IN THIS
WAY.
YET, AGAIN, DOES HE HAVE A POINT
ABOUT U.S. SUBSIDIES FOR A
COMPANY THAT'S CHOOSING TO CLOSE
PLANTS IN THE U.S. AND NOT CLOSE
THEM IN CHINA AND MEXICO?
>> TWEETS GAVE ME FLASHBACKS OF
2008 WHICH WHEN HE TALKS ABOUT
THE AMERICAN PEOPLE HAVE GIVEN
GM AND OTHER COMPANIES A LOT.
THAT GOES BACK TO THE ARGUMENT
THAT WE SHOULD NEVER HAVE BAILED
OUT THOSE COMPANIES IN THE FIRST
PLACE, THEY SHOULD'VE COME BACK
ON THEIR OWN RATHER THAN BEING
PROPPED UP FOR YEARS.
THEY ARE CONTINUING TO SELL CARS
PEOPLE DON'T WANT TO BUY.
IT IS INAPPROPRIATE FOR THE
FEDERAL GOVERNMENT TO GO AFTER
ANY SINGLE COMPANY FOR NOT DOING
WHAT THEY WANT BUT THERE IS A
HUGE CASE TO BE MADE GENERALLY
ABOUT HOW CERTAIN SUBSIDIES HAVE
BEEN GIVEN TO ELECTRIC CAR
MAKERS SO WE CAN MAKE THE
ARGUMENT THAT WE SHOULDN'T HAVE
BAILED OUT GM AND THE FIRST
PLACE, THAT IS COMING HOME TO
ROOST IN A WAY THAT
CONSERVATIVES, REPUBLICANS AND
OTHER ECONOMIC FACTORS PREDICTED
BACK WHEN IT HAPPENED AND HERE
WE ARE MOVING FORWARD WITH THE
JOBS GOING AWAY IN THE U.S.
WHICH IS SOMETHING THAT
PRESIDENT TRUMP DOESN'T LIKE
BECAUSE HE CAMPAIGNED ON KEEPING
THEM HERE.
>> THE GM VEHICLES BEING
DISCONTINUED, THE PRESIDENT
SINGLED OUT THE CHEVY CRUZE AND
PLANTS ARE BEING SHUT DOWN, BIG
ONES IN OHIO, MICHIGAN,
MARYLAND, ACTUALLY TWO IN
MICHIGAN, YOU CAN'T TAKE THE
POLITICS OUT OF ANY OF THIS.
THEY ARE LOOKING AT OHIO SAYING
WAIT A SECOND, OHIO?
>> IT'S POLITICALLY EMBARRASSING
FOR THE PRESIDENT, HE'S BEEN
BRAGGING ABOUT THOSE PLANTS
COMING BACK.
I THINK HE SAID AT A RALLY, I
AGREE ENTIRELY WITH KATIE ABOUT
THIS.
THE REASON WHY GM IS CLOSING THE
SPACE
SPECIFIC PLANTS IS BECAUSE
PEOPLE AREN'T BUYING THE
SPECIFIC CARS BEING SOLD THERE.
THEY ARE FOLLOWING IN THE
FOOTSTEPS OF FORD, A LOT OF
THESE GUYS ARE GETTING OUT OF
THE PASSENGER CAR MARKET AND
GOING TO THE LIGHT TRUCK MARKET,
I DIDN'T THINK BARACK OBAMA KNEW
ENOUGH HOW TO MANAGE A HUGE
ECONOMY FROM THE WHITE HOUSE, I
DON'T KNOW THAT DONALD TRUMP'S
INSTINCT OR ANY BETTER.
I'M A FRIEDRICH HAYEK GUY, THE
MARKET IS SUPPOSED TO WORK THIS
STUFF OUT.
THEY'RE MAKING BUSINESS
DECISIONS CLOSE TO THE GROUND,
I'M ALL FOR GETTING RID OF THE
ELECTRIC SUBSIDIES.
IT'S A REALLY BAD IDEA.
>> Bret: THE MARKET WENT UP
TODAY IN PART BECAUSE OF HOPES
THAT SOME DEAL WITH CHINA COULD
BE WORKED OUT.
HERE'S LARRY KUDLOW.
>> THERE IS A GOOD POSSIBILITY
THAT WE COULD MAKE A DEAL.
AND HE IS OPEN TO IT.
ON THE OTHER HAND IF THESE
CONDITIONS I MENTIONED A FEW
MOMENTS AGO ARE NOT MET AND ARE
NOT DEALT WITH, THE PRESIDENT
HAS SAID LOOK, HE'S PERFECTLY
HAPPY TO STAND ON HIS TARIFF
POLICIES.
>> Bret: SO YOU'RE SAYING
THERE'S A CHANCE.
>> LARRY KUDLOW IS A VERY
OPTIMISTIC GUY.
>> Bret: HE'S GOING TO MEET
WITH PRESIDENT XI ON THE
SIDELINES IN ARGENTINA, THEY DO
THINK CHINA WANTS TO MAKE A
DEAL.
>> CHINA WANTS TO MAKE A DEAL
BUT WHAT THE U.S. IS ASKING
CHINA TO DO IS ALMOST TO GIVE UP
ITS BUSINESS MODEL.
THEY DON'T WANT ANY MORE FORCE
TECHNOLOGY TRANSFERS, THEY DON'T
WANT INTELLECTUAL PROPERTY
THEFT, THEY DON'T WANT NONTARIFF
BARRIERS, THAT'S THE CHINESE
BUSINESS MODEL.
THEY WOULD HAVE TO MAKE A DEEP
STRUCTURAL TO SATISFY THE U.S.
>> Bret: I WANT TO TURN TO ONE
MORE TOPIC, THIS IS THE PAUL
MANAFORT TOPIC.
HE'S BEING ACCUSED OF LYING TO
SPECIAL COUNSEL, THE PLEA DEAL
IS UP IN THE AIR, THEY ARE
SAYING HE'S TOTALLY UNDERMINED
IT BY LYING AND THERE IS THIS
STORY IN THE GUARDIAN SAYING
THAT HE HELD SECRET TALKS WITH
JULIAN ASSANGE OF WIKILEAKS
SUGGESTING HE HAD SOME PREVIOUS
KNOWLEDGE, PRIOR KNOWLEDGE
BEFORE THESE EMAILS CAME OUT.
MANAFORT PUTS OUT A STATEMENT TO
HIS TEAM, "THE STORY IS TOTALLY
FALSE AND DELIBERATELY LIBELOUS,
I'VE NEVER MET WITH JULIAN
ASSANGE OR ANYONE CONNECTED TO
THEM, I'VE NEVER BEEN CONTACTED
BY ANYONE CONNECTED TO WIKILEAKS
EITHER DIRECTLY OR INDIRECTLY,
I'VE NEVER REACHED OUT TO
ASSANGE.
WE ARE CONSIDERING ALL LEGAL
OPTIONS AGAINST THE GUARDIAN WHO
PROCEEDED WITH THIS STORY EVEN
AFTER BEING NOTIFIED BY MY
REPRESENTATIVES THAT IT IS
FALSE."
YOU CAN'T GET A MORE STRINGENT
DENIAL THAN THAT.
>> WIKILEAKS DOESN'T HAVE A TON
OF CREDIBILITY WHEN IT COMES TO
TELLING THE TRUTH BUT THEY ALSO
ISSUED A SIMILAR DENIAL AND THE
GUARDIAN WALKED BACK SOME OF THE
MORE STRICT LANGUAGE IN THAT
STORY PUTTING IN WORDS LIKE
"APPARENTLY" AND NOT EXACTLY
FOLLOWING THROUGH WITH IT BEING
A SOLID ALLEGATION THAT HAD
BACKING.
THE TRUTH IS WERE NOT GOING TO
KNOW UNTIL ROBERT MUELLER COMES
OUT WITH HIS FULL REPORT BUT
PAUL MANAFORT HAS A RIGHT TO
DEFEND HIMSELF AGAINST THESE
ACCUSATIONS ESPECIALLY IF THEY
ARE VERY SERIOUS AND THEY HAVE
TO DO WITH A PLEA DEAL.
>> WERE TALKING ABOUT SOMEBODY
WALKING INTO AN EMBASSY, YOU
THINK IF HE WAS THERE THEY COULD
PROVE THAT.
>> ONE OF THE MOST MODERN ARE
DOORWAYS IN THE WESTERN WORLD, I
GENERALLY THINK THAT PAUL
MANAFORT IS A HYSTERICAL PERSON
AND HE'S IN BIG TROUBLE AND I
DON'T TRUST WIKILEAKS OR JULIAN
ASSANGE EITHER BUT THE IDEA THAT
THERE AREN'T MULTIPLE
INTELLIGENCE AGENCIES MONITORING
THAT DOOR AT ALL TIMES TO SEE IF
JULIAN ASSANGE IS COMING OUT
WITH A FAKE MUSTACHE AND
TRENCHCOAT IS LUDICROUS.
>> YOU THINK THEY CAN PROVE WITH
THE STORY IS SAYING.
>> Bret: WE ARE STILL ON