WAY TOO CLOSE TO CALL ON THAT.
JUST A COUPLE HOURS FROM NOW.
THE READ ON ALL THIS FROM
LENORE HAWKINS AND JONAS MAX
FERRIS.
WHAT'S INTERESTING IS THE
PRESIDENT DID TEASING ON THE
SECOND QUARTER GDP NUMBER
COMING OUT FRIDAY TO SAY LOOK,
THINGS ARE ON FIRE.
THIS IS PROOF WHAT'S HAPPENING
IN YOUR STATE.
WHAT'S HAPPENING IN THE OTHER
STATES.
WHAT DO YOU MAKE OF THE
APPROACH HE'S TAKING?
>> WELL, HE'S REALLY, REALLY
GOOD AT GETTING PEOPLE FIRED
UP, AND I WOULD LOVE TO SEE THE
SECOND QUARTER BE FANTASTIC,
WE'RE LOOKING AT THE SECOND
QUARTER KIND OF LIKE IF I GO ON
WEIGHT LOSS GAINS, THAT'S NOT
EXACTLY A SUSTAINABLE TREND.
IN THE SECOND QUARTER WE HAVE A
LOT OF CELERY, THE TAX CUTS,
NOT GETTING US A BOOST QUARTER
AFTER QUARTER, AFTER A FEW
THEY'RE BAKED IN.
A PULL FORWARD IN DEMAND ON
EXPORTS, COUNTRIES LIKE CHINA
BOUGHT A LOT MORE SOYBEANS THAN
THEY WOULD NORMALLY BUY AHEAD
OF THE TARIFFS GOING UP.
THAT MEANS LESS IN THE LATTER
PART OF THE YEAR BECAUSE THEY
BOUGHT MORE THAN THEY NEEDED IN
THE SECOND QUARTER AND SIMILAR
THING WITH U.S. COMPANIES
BUILDING UP U.S. TERRITORIES
FOR THE SAME REASON, TARIFFS,
RAISING PRICES, THEY BOUGHT
MORE OF THE MATERIALS IN THE
SECOND QUARTER.
NEIL: ONE-TIME EVENT HERE,
OTHERS HAVE SAID, JOAN ASHE
SAID IT ELOQUENTLY, I LIKE THE
APPROACH.
I HAVE NO DOUBT THIS WOULD BE A
HARD NUMBER TO TOP.
HIGHER IT IS, THE BETTER THE
AVERAGE.
PLAY THAT OUT FOR ME.
>> IT'S A GOOD TIME FOR IT TO
BE HIGH, WE'RE NOT GOING TO SEE
LIKE HOME DEPOT SELLING
LESS OF THE THINGS BEFORE A
HURRICANE.
THE POTENTIAL TRADE PEOPLE
TRYING TO LOCK IN THE DEALS, WE
DON'T KNOW IS THAT LIKE A HALF
4%, THE ADDITIONAL SALES, SO
THE QUESTION IS HOW MUCH OF
THIS WILL BE THE DEBATE AFTER
THE NEWS COMES OUT LATER THIS
OF HIGHER PRICES AND CLIENT
E-MAIL ME BUYING THIS NOW FROM
THE MANUFACTURERS MIXED UP IN
CHINA, A GUY IN THE STEEL
BUSINESS, THEY HAD INCREASED
SALES AND DISTORTED THE MARKET
LIKE PANIC BUYING BEFORE ANY
KIND OF STORM BUT DON'T KNOW
HOW MUCH AND THE TRADE PICTURES
IMPROVED WITH EUROPE.
SO MAYBE THAT'S AN OVERPLAYED
SCENARIO.
I WOULD SAY SOME OF THE TAX
CUTS ARE LONG-TERM THAN THAT.
TRUMP HAS A PLAN FOR THE SUGAR
CRASH WHICH IS MONEY TO AREAS
LIKE IOWA WHEN ULTIMATELY HAVE
SALES PROBLEMS BECAUSE OF THE
TRADE WARS.
NEIL: LENORE, INTERESTING THE
MARKETS, JUST LIKE FACEBOOK, A
INTEREST RATE STORY TODAY LIKE
TAKEN OUT OF THE INTENSIVE CARE
AREA.
SO I'M WONDERING WHAT THE
MARKETS MIGHT BE TELLING US AND
>> I THINK IT IS DEFINITELY VERY
GOOD NEWS TO SEE THAT THERE IS
SOME PROGRESS THERE.
I WOULD ALSO SAY THAT TRUMP'S
CLEARLY WILL BE UNDER A LOT OF
PRESSURE TO GET THIS STUFF
ADDRESSED BEFORE THOSE MIDTERM
YOU HAVE GOT THE CHINESE LEADER,
HE IS LEADER FOR LIFE.
HE DOES NOT NEED TO WORRY ABOUT
ELECTIONS.
TRUMP NEEDS TO WORRY ABOUT IT,
REPUBLICANS NEED TO WORRY ABOUT
IT, HE NEEDS TO MAKE PROGRESS
NEXT COUPLE MONTHS.
WE RUN THE RISK WITH THE MARKETS
NERVOUS.
THERE COULD BE POSITIVE RISK TO
THE UPSIDE HOPEFULLY WE MAKE
PROGRESS WITH THE EUROPEAN
UNION.
IS THAT ENCOURAGING SENSE THAT
MAYBE THE MARKETS LIKE, THAT HE
IS NOT AS RIGID?
THAT HIS BARK MIGHT BE WORSE
THAN HIS BITE, WHAT DO YOU
THINK?
>> I THINK THE, WHAT HAPPENED
WITH THE EUROPEAN AREA SEEMS
LIKE TRUMP IS NOT AS CRAZY AS
SOME PEOPLE FEAR IN TRADE AND
KEEP ESCALATING IN A GAME OF
CHICKEN WITH NO END.
I THINK ALSO IF HE GETS EU ON
OUR SIDE GETS US MORE STRENGTH
WITH CHINA.
THAT IS ENOUGH AFTER FIGHT TO
GET IN.
YOU DON'T HAVE A BATTLE IN EVERY
ZONE LIKE HITLER DID.
YOU WILL CERTAINLY LOSE AT SOME
POINT.
YOU'RE THE ONLY COUNTRY, EVEN
THOUGH WE BUY MORE STUFF THAN
ANYBODY, IT DOESN'T GIVE US
UNLIMITED POWER.
INVESTORS SHRUGGED OFF THE
FACEBOOK DECLINE IS SCARY.
LOSING MORE MONEY THAN ANY STOCK
IN HISTORY SHUTSHOULD FRIGHTEN
OTHERS AND TECH STOCKS, THAT
CONCERNS ME MORE THAN THE FUTURE