LOWER.
>> WEAKER THAN EXPECTED WE
BRING IN FORMER REPUBLICAN
PRESIDENTIAL CANDIDATE HERMAN
CAIN GOOD TO SEE YOU.
THANK YOU FOR JOINING US.
>> HELLO.
>> GOT TO GET REACTION ON
MIDTERMS NEW CONGRESS FIRST
TALK ABOUT NUMBERS, THE
ECONOMY LOOKS GOOD IN U.S.,
YOU HAD RETAIL SALES UP 8/10
OF A PERCENT% ESTIMATE 5/10%
ABOUT MANUFACTURING
QUESTIONABLE WHAT IS TAKE ON
TRUMP ECONOMY RIGHT NOW?
>> MY TAKE IS PROSPERITY
CONTINUES.
OF COURSE, WE ARE GOING TO
HAVE A FEW UPS AND DOWNS BLIPS
GOOD THING A LOT OF PEOPLE
ANALYZEING THESE MACROTRENDS,
BUT GOOD NEWS IS, IF IT IS ALL
GOOD THAT IS GOOD NEWS, THE
JOBLESS NUMBERS CONSISTENT
WITH TREND WE HAVE BEEN SEEING
SIX, SEVEN, EDIT, NINE, 10
MONTHS NOT NEW NEWS GOOD NEWS
RETAIL SALES NUMBER YOU
INDICATED BEAT EXPECTATIONS A
LITTLE BIT JOBLESS NUMBERS
DON'T BOTHER ME, I BELIEVE
THIS INDICATES, THAT THE
FUNDAMENTALS ARE SOUND RATHER
THAN FOR STOCK MARKET
FUNDAMENTALED SOUND RELATIVE
TO BUSINESS OPTIMISTICS
CONSUMERS LET'S NOT FORGET
THEY HAVE A MEETING MEDIAN
INCOME OVER 60,000 DOLLARS FOR
THE FIRST TIME IN A LONG TIME.
AND THEY ARE GOING TO SPEND
SOME OF THAT MONEY THEY MAY
HOLED SOME BACK BUT
FUNDAMENTALS ARE SOUND THESE
FLUCTUATIONS I THINK INDICATE
PEOPLE WHO ARE IN THE SHORT
TERM GAME RATHER THAN LONG
TERM GAME.
>> HERMAN JAMES FREEMAN HERE
"THE WALL STREET JOURNAL,"
GIVEN YOUR BACKGROUND IN
RESTAURANTS RETAILING, WITH A
LOT OF RESTAURANTS PRESSURE
POLITICALLY OR MARKETPLACE
HAVING TO RAISE WAGES, WHAT DO
YOU SEE HAPPENING HERE NEXT
COUPLE YEARS JUST REALLY
ACCELERATED AUTOMATION ROBUST
HIRING HARD TO FIND WORKERS
RIGHT NOW?
>> YOU ARE GOING TO SEE SOME
MORE ACCELERATEDS AUTOMATION
AS YOU INDICATED ALSO SEEING
SOME RESTAURANT COMPANIES PAY
THEIR EMPLOYEES MORE BECAUSE
THEY HAVE MORE MONEY TO PAY
WITH.
THE FACT THE RETAIL SALES DID
WHAT IT DID MEANS PEOPLE ARE
GOING TO EAT OUT MORE IF
BUSINESSES RESTAURANT TURZ
HAVE MORE MONEY THEY ARE NOT
UNWILLING TO PAY WHAT WORKERS
MORE I THINK ARE GOING TO SEE
A BALANCED COMBINATION OF MORE
AUTOMATION AS WELL AS PAYING
MORE MONEY IN ORDER TO BE ABLE
TO KEEP BEST EMPLOYEES.
>> I KNOW THERE IS A PIECE IN
THE WASHINGTON YOU POST FEEL
STRONGLY ABOUT, CALLED TRUMP'S
BIG 2020 PROBLEM, THE ECONOMY
COULD BE IN RECESSION THE
ARTICLE POINTS OUT HOW MANY
ANALYSTS ARE PREKING SLOWER
GROWTH INCREASED VOLATILITY
WILL LEAD TO RECESSION WHAT
YOU ARE SAYING THIS MORNING
YOU ARE DISAGREEING WITH THAT,
BECAUSE OF THE NUMBERS, THAT
WE ARE TALKING ABOUT, TODAY,
AND OVER THE LAST SEVERAL
MONTHS.
>> I HAVE ONE WORD FOR THAT
ARTICLE.
>> BULL FEATHERS I SAY ON YOUR
SHOW YOU FIGURE OUT EXACTLY
WHAT THAT MEANS.
HERE WHY IS THAT ARTICLE IS
BOGUS.
THE FUNDAMENTALS IF YOU LOOK
AT EVERYTHING AND THE TRENDS
LAST NEARLY 21 MONTHS WE HAVE
HAD THIS PRESIDENT HE
FUNDAMENTALS ARE GOOD ARE
SOUND.
THEY ARE GETTING HE STRONGER,
THE CONSUMER HAS MORE, THE
JOBLESS SCENE SOME PEOPLE ARE
GETTING BETTER JOBS SOME
PEOPLE GETTING PROMOTED IN
JOBS, AND BECAUSE THE
UNEMPLOYMENT RATE IS AT AS LOW
AS IT IS, LOW, LOW, AS YOU
KNOW, PEOPLE ARE THEY ARE
GETTING PROMOTED, BECAUSE IF
THE BUSINESSES HAVE THE MONEY
TO PAY PEOPLE MORE, FOR A
BETTER JOB, GREATER
PRODUCTIVITY WE ARE GOING TO
DO IT DON'T NEED GOVERNMENT
TELLING THEM HOW TO RUN THEIR
BUSINESS THAT IS THE
FUNDAMENTAL DIFFERENCE BETWEEN
THIS ADMINISTRATION, THE TRUMP
ADMINISTRATION, AND THE
PREVIOUS ADMINISTRATION SO I
THINK PREDICTING OR TRYING TO
SCARE PEOPLE AND TALKING ABOUT
A RECESSION, THAT IS SCARE
TACTIC NOT WORKING ON BUSINESS
COMMUNITY THOSE ARE THE ONES
GOING TO DETERMINE THAT THIS
PROSPERITY CONTINUES.
>> MR.
>> CA.
>> CAIN TWO BIGGEST DOMESTIC
POLICY ISSUES IN MIDTERM
ELECTIONS HEALTH CARE AND
IMMIGRATION, DO YOU SEE ANY
SORT OF DEAL DONE FOR DACA,
THE WALL OR ANY SORT OF HE
REFORMS REPEAL AND REPLACE
OBAMACARE TALL ORDER WITH
DEMOCRATIC CONGRESS DO YOU
THINK THE PRESIDENT CAN GET
SOMETHING DONE.
>> I THINK THE PRESIDENT HAS A
CHANCE TO GET SOMETHING DONE,
BUT I DON'T BELIEVE THAT THE
DEMOCRATS ARE SINCERE ABOUT
GETTING SOMETHING DONE.
THEY HAVE 8 YEARS TO GET
SOMETHING DONE ON DACA DIDN'T
DO IT THEY HAD 8 YEARS TO GET
SOMETHING DONE ON IMMIGRATION
THEY DIDN'T DO IT JUST LEFT
THAT PROBLEM LAYING OUT THERE,
AND NOW THEY WANT THE
PRESIDENT TO PULL A RABBIT OUT
OF THE HAT!
DEMOCRATS' IDEA OF COMPROMISE
IS DO IT OUR WAY I THINK THE
PRESIDENT REPUBLICANS GOING TO
RUN INTO SIGNIFICANT BARRIERS
TRYING TO WORK ACROSS THE I'LL
OPTIMISTIC BUT MARK MY WORDS
DEMOCRATS GOING TO DIG IN
HEELS THEY ARE NOT GOING TO
WANT TO GIVE IN ONES NO
SIGNIFICANT ISSUES THEY ARE
BIG ISSUES THIS IS WHY THE
PRESIDENT AND REPUBLICANS HAVE
NOT BEEN ABLE TO GET ANYTHING
DONE ON THOSE ISSUES UP TO
THIS INT POP BECAUSE THEY ARE
DETERMINED HE THEY DON'T WANT
IT ANYWAY OTHER THAN THEIR WAY
I WISH THEM WELL.
MARIA: DO YOU THINK ANYTHING
GETS DONE IN NEW CONGRESS NEXT
TWO YEARS?
>> NO.
>> NOTHING.
>> IT IS GONNA BE I AM SORRY.
>> IT IS OKAY JUST WANT TO NO
WHAT PRESIDENT'S BUSINESS
FRIENDLY AGENDA IS REVERSED
VOTED OR NOTHING GETS DONE
THAT IS GOOD NEWS?
>> THE BUSINESS FRIENDLY
AGENDA OF THIS PRESIDENT THAT
IS ALREADY IN PLACE CANNOT BE
REVERSED, BECAUSE THE HOUSE
CAN ONLY LEGISLATE HAS TO GO
THROUGH SENATE THEY ARE GOING
TO BE ABLE TO CHANGE
REGULATIONS THAT HAVE BEEN
ROLLED OUT THEY ARE NOT GOING
TO BE ABLE TO CHANGE TAX CUTS
THAT ARE ALREADY IN PLACE.
AND WE'VE SEEN THE BENEFITS OF
IT, NOT ONLY IN BUSINESSES
NUMBERS THAT YOU JUST REFERRED
TO, BUT ARTICLE IN THE
WASHINGTON EXAMINER THAT YOU
SHARED WITH ME THAT SAID THAT
IN THE LAST 12 MONTHS 878,000
NEW MILLIONAIRES HAVE BEEN
CREATED UNDER THIS
ADMINISTRATION GREAT NEWS THAT
IS GREAT, GREAT NEWS FOR THE
PROSPERITY THAT WE ARE
ENJOYING AND I BELIEVE WE ARE
GOING TO CONTINUE TO ENJOY IT.
NOSE MILLIONAIRES DIDN'T
FALLOUT OF THE SKY THE
GOVERNMENT TRYING TO TELL YOU
HOW TO BUILD A BUSINESS AT ANY
TIME DO IT CONTRARY TO WHAT
PRESIDENT OBAMA SAID THEY DID
DO THAT!
THEY BUILT THOSE BUSINESSES
THEY TOOK RISK, AND THEY ARE
NOW REAPING REWARDING MIGHT BE
FEW LITTLE THINGS THEY ARE
ABLE TO GET DONE BUT THE
DEMOCRATS ARE GOING TO TRY TO
POSTURE IT AS THERE IS A BIG
WIN FOR THEM, AND NO-WIN FOR
THE PRESIDENT.
I DON'T THINK THAT TACTS
I DON'T THINK THAT TACTICS
GOING TO CHANGE, 878,000 NEW
MILLIONAIRES.
>> I PROPOSE YOU ARE RIGHT
NOTHING WILL HAPPEN THAT MEANS
NO BIG INFRASTRUCTURE SPENDING
BIG SPENDING ON ANYTHING ELSE
ONE WOULD HOPE.
>> WE WILL SEE THAT COULD BE A
POLICY MISTAKE TRYING TO LOOK
FOR SOMETHING THEY AGREE ON
AGREEING TO SOME ONE, TWO
TRILLION-DOLLAR INFRASTRUCTURE
PACKAGE.
>> WE NEED A BIG
INFRASTRUCTURE PACKAGE, BUT I
DON'T WANT TO MAKE PREDICTIONS
THE PRESIDENT IS WILLING TO
COMPROMISE ON INFRASTRUCTURE
IF YOU GETS THE WALL WHAT
DEMOCRATS DON'T WANT MAKE IT
APPEAR AS IF PRESIDENT TRUMP
HELPED TO CAUSE SOMETHING BIG
TO HAPPEN THAT IS OVERRIDING
STRATEGY THAT IS WHY I AM NOT
OPTIMISTIC I'M NORMALLY
OPTIMISTIC BUT NOT OPTIMISTIC
THAT THEY ARE GOING TO WANT TO
WORK FOR A SUBSTANTIVE
SOLUTION TO ANY OF THESE BIG
PROBLEMS.
>> WE LEAVE IT THERE, WE WILL
CONTINUE TO WATCH THE BULL